Oak Tree Anglican Fellowship Trust Trustees Report and Financial Accounts for the y&qr ended 31 December 2023 Cl]arles & Associate Charles Ose4 BS¢ (Hons). MSC. ACTE. MCtPP, AF& ATA OAK TREE ANGLICAN FELLOWSHIP TRUST Page I
OAIK I'RLEANGLICAN FELLOWSHIPTRUST CONTENTS Page3to4 Legal and Administrative Inforniation Page 5 Independent Examinefs Report Page6to7 Review of the period Page 8 Statement of Financial Activities Page 9 Balance Sheet Pages JO to 13 Notes to the Financial Statements Page 2
OAK TREE ANGLICAN FELLOWSHIP TRUST LEGAL AND ADMINISTRATIVE INFORMATION NAme: Oak Tiee Anglican Fellowsbip Tn1. Thc naiiic of thc Irust was changed by decd on 14° March 2010 from the Oak Tree Clwitabl¢ Trst to the Oak TrLt Anglican Fellowship Trust. Reg15tercd ChArlty Number: 1067145 To comply with a provision of the Chariti¢s ACL which requircd all previwsly Gxcq)tcd chariti&s I church&s with 0s5 incomc in cXc of £IOO.000 to ADdivi(bJally rCgiSt with th¢ Charities Commissioo ihe Oak Tree Anglican Fellowship a non-parochial church in the Churcb of England gitled au ol its assets to the Tnjsl effective 31. March 201 O. The charity had previously been r¢gistffed by the Fellowship lo undertakc Vario charitable activitias which were no longer being pursued. Tntee$. The Trnste&8 of the charity during the year wcre: Revd Tim Sudworth (CIwry)SOTr) Simon Brewst(r (rreasurer) C01} Hope (Rlarda) At the Annual General Meeting of 12 May 2024. the new electoral roll was published with a membership of 39. Advisory Church Council During the year the following sffvol as members of the ACC: Revd T. Sudworth Mrs S. Miller MI C. Hope Mr S. Brewster Mr5 E. Lewis Miss E. Benwell Miss S. Alvi Minister in charge Curate Warden Treasurer Pa8e 3
OAK TREE AIYGLICAN FELLOWSHIPTRUST LLOAL AND ADMINISTIIATIVE INFORMATION (continued) The policy of thc fellowship 18 to give away at least l /• of its income to other causes. The giving fund is under the adminislralion of the ACC. The giving 18 divided 8(V/o thc Giving Committee and 200/0 to th¢ Viw's Discrciionary Accouirt. Governln% InstrunAt., Thc Trust was tabl]ShCd by a deed of trust dald 4 November 1997. Correspondence Address: ?16 .4cton High Sirn London W3 9NX Primary Bankers: Santander Ul( plc Busin&ss Banking 301 St Vincent Street Glasgow G2fft Independent ExanJiDer Charl£8 Osei, Bsc (Hons). MSC. ACtE, MCtPP. AF& ATA Flat 3, 1 l Rwhdale Way Deptford London SE8 4LY Page 4
The Oak Tree Anglican Fellowship Trust nd•p•nd•lll Examln•rf• r•port on th• flnanclal •l•t•m•nt• To tho trte of Th• 04k Angllc•n F•llow•hlp Tru•1 I rop on Iho fin881 stst8monls tho yoar ended 310ececmber 2023 68t out on pag88 8 - 13. Thi6 report is soty to Ihe Twst8e8 of The Oak Tre8 Angllc8n FBllowshlp Tru81. 86 8 bly, in accordarKe vath regulalions made under secilon 145 of tho Chathles Act 2011. My has been jertak 80 ihal I rnht state to the Twst008 m8tlerB l am r8qulrod lo stale to thern In an Indendent Examinerfs and no olher purpose. To the lullosl exlenl permitted bylaw, I do t W (y assLNn8 respsknhty Io Sn6 oih8r Ihan ihe charlly and ch8rWs trustoos for my eXaminalw th. fty INS reFX)rt. or the stalemenl I have given lOw. Respectlve responslbllltles of Tnutees and Independent examlner As Charty ITUSte8s for the wry)oses of charity law, are responsible for the prepar8tlon of th8 financt81 statements, The Tnjstees consider that an audit is not required for this year und8r section 144{2) of th6 Charitss Act 2011 (the 2011 Act) and that an indePeIent examination is needed. Having satssfied myself that the Charity is not subject to an audit under company law and is ellgible for rent 8xaminatts)n. it is my responsibilty to: a) examine ts aca)unts urKler seclion 145 of the 2011 A¢ b) follow the rt)cedures laid down in the general Directions given by the Charity Commtssioners under section 145(5Mb) of the 2011 Act. and c) sial6 wlKlh6r particular rnatt8rs hav8 come to my attenlic)n. 8asls of Independent examEner's statemerrt My examinatson was carried out in accordance with the general Direclions given by tho Chanty Commission. An examirk2tTron includes a review of the accounting records kept by the Charity. and a comparison of the a¢tS presented wth those records. It also indleS consideration of any unusual ttems or disdosures in the accounts and seeking explanations from you as Trustees conceming any such matters. The prowjures undertaken do not provide all the evidence that would be qUIred in an aud¢t. and cons8quenty no opinion is given as to whether Ihe accounts present a Irue and fair vieb and the report is hmited to tIK)se matters set out in the sL3tement below. Independent examSner's statement In connection my examination, no matter has come to my attention: 1) }ch gives me reasonable cause to believe that in any material respect the requirements a) to keep accwnting records in accordance with Section 130 of Ihe Charities ACL" and b) to prepare accounts vthich accord with Ihe a¢unting records. comply véith the accounknng requirements of the Charities Act rK)t me( or 2) to kn my opKik)n. attention should be drawn in order to enable a proper undefstanding of the 10th May 2024 Ch*s Osel. Bsc {Hc). Msc. ACIE. MCIPP, AFA. ATA Flat 3. 11 Roct¥J818 Way Dep1fd LcKKlon SE8 4LY Date Page 5
OAK'fRTr=F ANGI,ICAN FEI.I.OWSIIIP I'RUS'r RLvif.w OF I'l IE YI.'AR LNDF.D 31 DECEMBER 2023 Slructurn, Governance and manv4Eement Thc Oak- -1 ree kliib)IiLWI I'cllowsliip is pari of Iljc Cljuicli of England and prior lo the tegiiil.Itii)iis iliul Liuiie inlo r()f ce us pnrl olllie Cliarilics Acl. fell under ils Charitable Rcg?istrntioii wid shared ils Clii2rilublc Objcclivcs. Changics inlrodiiccd by Ilic C'liuritics Acl rcquircd 1111 previously cxcepled charities and churLhLs Ivilli i Rross iiicoine iii c.xcess of£ i 00.000 lo indlvidually regisler with the Charlty CoiniiitS5ioii. To coiiiply iyiili Iliis requircinent iii March 201 O thc Oak Tree Anglican Felloiv511ip gifted all of its assets and liabilities lo the Oak Trc¢ Anglican Fellowship Trust. Tlie Felloiyship is ronnlY governed by ils Trustees. Objcctii"t5 and Actii'itics Founded in IX-tolKr 1993 al the invltation of the Bishop of Willcsden. Oak Tree w&s established to be a new. ex[IM¢tal church in thc Aclon are& Alihough fully part of the Church of Englan(t Oak TTe¢ is different from the trdth"lionaJ parish church. Having no set geographical boundaries. Oak Tree sees th¢ whole ofAclon. with its 85,1X)O Tesidcnts. &s it5 mission area working with the oth¢r churches ot. Ihe arcas to help meet neells and create community. Its prii))ary activity is lo ii)eel for prayer, worship 1chIng and fellowship fornially on a Sunday, but also infomially during the week in small groups. Th¢ Fcllowship runs a Christians Aoatnst Poverfv centre and oiher IIKaJ proj¢cts lo serve the residents of Aclon on an ongoing b&sis. Financial ReTriew The Fellowship w&$ without a pernianent home sinc¢ it was founded in 1993. In 2009 the Diocese of London purchased a community. centre in the heart of.Icton for Oak. Tre¢ to occupy. refurbishment work commenced in the summer of 2010 and the Fellowship was able to occupy the building in January 2011. In 2023. total incoming resources for the year were £94k (2022.. £IOOk) and expcnditiire £94k (2022: £9.)k) resuliing in break-even (2022: surplus of £7k) for the period. Unrestricted funds remained stable (2022.. increased £7k) during the period at £1 Iok (2022: £1 Iok). Public Benefit The charity acknowledges its rulTement to demonstrdte clearly that it must have charitable putposes or 'aims' that are for the public benefil. The"[ rustees confm that they have paid due regard to thc Charity Commission guidance on public benefit before dcciding what activities the ClrIty. should undertsL'e. Page 6
().,Ilk 'l'lll,:lJ IKN(:LIC'AN Tr-Tr:I.I,()W(illlP'fRIJ.4i"r RLV ILllI ui,-"Iiir. I'LAR ENDID 31 DECEMBER 2020 (conlinued) Rtsen'ei l>oli¢)' The Truslecs hai'e con.sidcred the level ofreserves they wish io retain, appropriate lo the need5 ofthe Irusl. This is based on the fellowship's size and the Icvcl of financial COIIITiiilmcnts held. The Trustees aim to ensure ihe fellowship will be able lo continue to tullill its chanlable objeclii cs ei-en il'ihere is a teinporary shorttall in income or unexpectcd expenditure. The Trustees will endeaN"our not lo sel aside funds Unnecess11Y. The reservcs of thL fclloiN'ship hai'c bccn built up oi'cr rcccnt )-cars to fund thc fit out costs of its ncw ilding. the fina] age of which was completed during 2013 with the r¢TbiShment of the lift. The Trustees arc conscious &$ a num[ of itetns put in as part of the fil out in 20101201 I come lo ihc end ofihcir working life then th¢y will necd io bc replaced and thus reserves arc Maintain for this. Risk assessmenl The Trustees actively review the major risks which the trust faces on a regular basis and believe that maintaining the free reserves state¢ combined with th¢ annual review of the controls oi'¢r key financial syslems carried out on an annual basis. will provide sufyicient resoLirces in ei'ent of adiiercp coryditions. The TtePS hai'e also pX2tnind other operational and business risks which they face and confirni that they have eslablished systems to mAtigale the significant risks. The Truslces also ensure thal SarUarding and other non- financial FK)licies are r¢gularly reviewed in line with Church of England giN)d practice. Trusttes, Rtsponsibilities The Charities Act requires thc Trustees to prepar¢ financial siatemcnts for ¢ach financial year which give a trne and fair view of the state of affairs ofthe trust and the suryjlus of the trust for that peri(xl. In preparing those financia] stalements the Trustees are required to: Sclecl suitsble accounting policies and apply them consistenily Make judgtnents and estimates that are reasonable and prudent Prepare financial statements on a going concern basis unless it is inappropriate to presume that the tn1 will continu¢ in cxistencc. The Trustees are r¢4K)nsiblc for keq)ing proper accounting iecords. which disclose wilh teasonable accurac>' at any time the fmaricial position of th¢ trust. Thc). atc rcsponsiblc for safeguarding the assets of the trust and hence for lak-inbi Teasonabl¢ steps for the prevention and detection of fraud and other irregularities. Signed on Ixhalf of the Tnle¢S ... .. Print Name: Tim Sudworth Siinon Brewster Date." May 9dL 2024 Pa8e 7
I'he Oak I"rcc .,Knglicain li L.Iloii'sliip I'rust STATENITr"NT OTr. FINANC"IAI. ACI'II'I'I'ITr" For the )'er tnded JI l)t¢tml)tr 202J Gevrl Pl•nllnR Fund Glwlni Vkv' Totsl F¥Mth Vumb Diyrtl 2021 IYCOIIE 55.( 55.(YX> 55 61 38.610 15.348 TOTAL INCOME 93.7¢ l(M).J7i EXPENDITURE aritthk kniiqtiej 78,753 i,( .77) TOTAL EXPENSES 7,7)5 I?.IKK) 15,( (ry.774) 7.6Y3 TRANSFER BEN FUNDS (10.Oii) (10.Oii) (10.:4-.1 10.llij 7.614 4,95 (4.3)61 (36:, BALANfES BROUGHT FORWARD AT 1, 3)23 93.814 17.44? 110.674 lo?.(1 31. xi23 M(wrm¢ots dl rt8¢Th¢s •xl all r¢¢Wi$ 84iw and ILW¢S we showi aiM)vc. All of thc orBani&i1ii)n's Vratio1lS a. (lassL Th¢ p4¢19 to 13 forni of th¢ finAncial P•o¢8
'I"hc ()Mk 'l'rec Ilnglican I, elloivship 'fru5t BAiAJCE SIIEET AT JI DECENIBER 2023 2023 1022 FIIED ASSE75 34,579 38.144 CLIRREIYT ASSETS tkbioys 5.787 71.356 6.671 É6.957 Lash ai and in hand 77,143 73.628 CREDITORS: AMOUFs FALLING DUE WITHIN ONE YEAR (8091 (1.0981 NET CURRENf ASSETS 76.334 72.530 NET ASSETS 10.913 110.674 FUNDS OF THE TRUST Rdtrirted Fund5 Church PJanitnB Fund 2.228 2.222 U¥restric¢ed Funds 8.086 1.833 9.919 12.442 2.196 14.638 98.767 108,68) 93.814 10¥,4)2 T•tsl 10.913 110.674 lry Thc&k Ttee AD8lwo F¢lb)wsFLiP Tnld on 9 May 2024 and s Si8n int Name.. Siown Bre71¢f
The Oak Tree Anglican Fellowship Trust OI"TrJ TX) TIIE FINANCIAI. s'fATEME For the y¢r e•ded JI Derewbtr 20LI ACCOU1lG H)LICIFS lTh¢ financial etements ht iwi in 8CLY>nlwKe with the Chuwh A¢untIng Regulations Iipn to with &Fl>lile occowrting stwdmL8 and the CTraritie3 SOIiP. Fwnds Crtneral funds the funds of OTAF th818ff not subjert lo any srrtial re5tridM)ns rewding thcir use and 8re &vai18b]e for aroliLlion w th¢ &rrmJ prSeS of the OTAF. Funds Iksignaled for a Fwtiuilar puryx>se by the ACC are FlredAssets HIstorillY fixcd purch&w bave Ix¢n written off wlKvn wuirrA. With the move to a F%rMa1 and the Si1fi1 aslatrAI th this. thc has now stsrted to capitalise Bll Lssets pchsu and (kprtcia them ov¢r their ruI life &s 51M)wn in tW)te 4. Con5Crtd PJKI t¢n¢fictd prorffj is ry¢luded frnm the XY>)W by s1 10 (2) of th¢ Chftritics Ad 2011 ChaAxa th Acco¥ntingpolicies andpreths accounts Thrye Ills itn TWI chgnge to the lICI¢S (vri8tion ruks and orUntIng) 5iDL%1oSt )tar. al no Gtr•l Givi VitPI To¢•1 F¥• Fxd F•uds Di*¢tIO• 2022 46J56 lJ88 7JJ2 46.356 lJ88 7.352 57.978 14.181 Colledxffty (opi plrte) & all suvknxs Tlxai Vol1 55.(Y)6 55.096 75.125 55 55 61 61 1820 35.790 2.820 35.790 3.037 21311 38ffj10 3&610 25.348 P40 10
The Oak Tree Anglican Fellowship Trust NOTLS TO THE FINANCIAI, STATEMEMS (coDtln¥ed) For the )'ear ended JI December 2023 3 RESOLIRCES LXPENDED Pl••ll Gt¥l Totsl F••th 2•22 mission aThJ charitable giving". Missions 3,916 1,913 5,829 2.775 1775 13.775 14.775 iio Minisiry Diocawi qwta lif0 li) 34,080 Ministry w¢ns Office costs 3,?68 3.768 19J05 4.261 14.334 Invited SF&ets 23.074 23.074 18.595 825 825 583 1867 1867 2.833 19.929 J9.929 10,046 Hirc of IlIdID85 19.929 19.1x29 10.046 5.628 5.628 6239 of styvi(ts Wolp & &)ufyJ 880 1,705 1.158 3.742 1,705 1,158 3.742 1.474 866 3.268 213 1.081 2]3 1,081 612 1.425 1294 1.294 1037 1.197 1.197 7.946 9,144 317 8.725 9.043 9.144 250 2$0 92.802 78.753 2.775 93.527 P11
The Oak Tree Anglican Fellowship Trust NOTE5 TO TIIE FINANCIAL STATKhlENIS (roJll•ued) For the i'tar ended 31 DeceMr 2023 FIXED A&SF.V4 Furnitu Athlio visual WMI other equipmurt IT equiFrnrt 21251 4.893 2.798 7.691 impmvements Fixlur¢s & fittings 113.073 nd clectriul Cosl As at l janu 2023 Athlitio Ai 31 DcctmlTh 2023 Totsl 166.086 1798 168,884 26.869 113.073 26.869 21251 SL 10)t SL S ytats 26.wj SL4)rns SL3Jw5 20.108 4.893 1.104 735 21212 As gt l January 2023 Ch for the At 31 Demir 2011 76.072 4.524 80.596 127.941 6.364 134.305 26.869 5,628 Net Ix)ok Val at 31 fkcemiu 2023 IxK)k Val at 31 DeLzmirr 21)22 31477 37.Wl 39 1063 34.579 38.145 1.143 20L1 2022 DEKroi 802 1058 4,611 6.671 5.787 CREDrroRS: AMOUKtS FALLING DUE WITHll¥ ONE YEAR 809 809 1.020 1.020 STAFF COSTS AND NUMBERS Gross W4es and SalaTi&S Employerfs National Insurnnc¢ Costs PeiOn Contribution% 17.607 331 17264 781 722 414 18J51 18.767 Tr TnLSt (wales wroll urxkn thE InlaThl Reventse's PAYE scheme. (kn 2 awiloyecs {2 part FUND MOvEmE[s AND DESCIU]ryIONS 31.De£-22 31-De23 93.814 93.760 78,753 10.055) 98.767 12.428 2.196 14.624 12.lrfX) 1775 14.775 8.071 1,833 2.411 10.055 2.228 iio 93.766 93J27 JiOJ99 P88e 12
The Oak Tree Anglican Felloivship Trust IYOTES TO TIIE FINANCIAI. STATEMENTS (togtlnued) For the year ended JI De£tmber 2023 FUND MOVEMEW15 AND DLsciuFfioNS (continued) Deseriptlons: Gfving: this designated fimd Tcccives 8.IPA of gro&s income of the trust. This is adminisred by a separnle o)mmittee and is directed at other charithble organisatioAs or to supp)rt personaI missionaries. Anv gifts over£l.(MX> aye dilOSed below: 2023 2022 Agencies: DLC Dis&sl¢r #p1 Others under £l.OCK) IDdivlduts: Claire Grirnble 250 11000 IiO(x) 250 VIcArf$ Dbcretloaary Fund: this desi fund receives 2.0% of gross income of the feElowship and 15 PAlministered on a confidential basi5 for the support of individuals or organisation& No pAents to individuals during the year exceeded £l.OiY). Plallthig Fuod: the Tn5 only r1¢tcd fi3nd is for local outreach 2nd church pkntiog which provides funds for new outreach&s to thc local community. PAYMENIS TO ThE TRik%fELS AND OTHER RELATED PARTIES SUdWth (frugtee) receive41 £ 40.IKI. carol) Hope ffwstee) recieved £ nil and Sarah Ilcr (fDJ#¢e} 1ved £349.25 in eXe reimbutsements duiing the ycar. No other payments w¢Yc to the othff t¢¢ during this financial peri4)(L No other tnaterial truthodions Pl bdwttn the charity and thc InLStecs or any per50ll CA)nnec¢¢d with them 013