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2022-08-31-accounts

OCCA House Limited

Financial Statements

Period ended 31 August 2022

Charity registration number: 1067314 Company registration number: 3449676

OCCA HOUSE LIMITED

Financial Statements

Period ended 31 August 2022

Contents

Page
Charity Reference and Administrative Details 2
Letter from the Chair of OCCA House Limited 3
Trustees' Annual Report (Including Directors' Report and Strategic Report) 4
Independent Auditor's Report 10
Statement of Financial Activities (Including Income and Expenditure Account) 13
Balance Sheet 14
Statement of Cash Flows 15
Notes to the Financial Statements 16

1

OCCA HOUSE LIMITED

Charity Reference and Administrative Details

Period ended 31 August 2022

Charity registration number 1067314 Company registration number 3449676 Trustees James Gardner (Chair) Matt Baird (appointed 10 April 2022) Christine Brindley (appointed 25 April 2022) Yolanda Ibbett (appointed 25 April 2022) Martin Kitcatt. (resigned 21 June 2022) Jeremy Marshall Emma Osborne (appointed 31 March 2022) Mike O'Neill (resigned 16 March 2023) Akeel Sachak Francis Wright (resigned 16 March 2022) CEO Charlie Styles (appointed 17 January 2022) Richard Giles (resigned 31 December 2021) Registered office 76 Banbury Road Oxford OX2 6JT Auditor Critchleys Audit LLP Beaver House 23-38 Hythe Bridge Street Oxford OX1 2EP Bankers Triodos Bank Barclays Bank Nationwide Building Society The Co-operative Bank

2

OCCA HOUSE LIMITED

Letter from the Chair of OCCA House Limited

Period ended 31 August 2022

We began the 2021-22 financial year with the foundations of our newly independent UK ministry in place. I concluded last year ‘ s letter by noting

“ .. a sense of great optimism, born not of a warm feeling but of our unshaken confidence in our Lord ‘ s purposes and His provision of means to do that work to which He calls us ”.

By God ’ s grace we have made significant progress this year in relaunching our evangelism and training ministries. Our key achievements during the year were as follows:

During the financial year we were joined by many talented people, including a new chief executive officer and a new director of operations. We recruited four new speakers who have since joined in the 2022-2023 accounting year, to add bench strength and a diverse set of experience to our frontline team. We also welcomed four new trustees to our board. Speaking personally, it is deeply encouraging to welcome these faithful and committed individuals to serve alongside us in supporting the mission of the UK church.

In short, we have been able to use this financial year to expand and develop our new ministries, and to implement a number of profound initiatives. There is a real sense of momentum and energy in our team ’ s work. As our new CEO Charlie Styles explains later in this report, we have ambitious and exciting plans for the coming year. I hope that you will find them as inspiring as I do.

To God be the glory.

James Gardner Chair, OCCA House Limited

3

OCCA HOUSE LIMITED

Trustees' Annual Report (Including Directors' Report and Strategic Report)

Period ended 31 August 2022

The Trustees present their report and the audited financial statements of OCCA House Limited ('the Company') for the period ended 31 August 2022. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' (FRS 102) in preparing the annual report and financial statements of the Company.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the Company's governing document, the Charities Act 2011 and Accounting and Reporting by 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.

Trustees of the Charity

The directors of the charitable company are its trustees for the purposes of charity law. The Trustees who have served during the year are as follows:

James Gardner (Chair) Matt Baird (appointed 10 April 2022) Christine Brindley (appointed 25 April 2022) Yolanda Ibbett (appointed 25 April 2022) Martin Kitcatt (resigned 21 June 2022) Jeremy Marshall Emma Osborne (appointed 31 March 2022) Mike O'Neill (resigned 16 March 2023) Akeel Sachak Francis Wright (resigned 16 March 2022)

1. STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

OCCA House Limited (formerly RZIM Zacharias Trust) is a company limited by guarantee, incorporated on 14 October 1997 and registered as a charity on 9 January 1998. The company was established under a Memorandum of Association that established the objects and powers of the charitable company and is governed under its Articles of Association.

The Board of Trustees

The Trustees hold Board meetings four times per year. The Senior Management Team (SMT) attends Board meetings. Other members of staff may be invited to present specific reports. The Articles of Association include provisions for the election, retirement, and removal of Trustees.

Trustee Induction and Engagement

An induction pack for Trustees is made available to new Trustees and follows the Charity Commission guidelines. The Board is periodically provided with relevant material and guidance from the Charity Commission and other professional institutions on charity governance and regulatory changes. Independent legal advice and guidance is sought where specific points of clarification are required.

Trustees attend events organised by the Company, visit the offices and interact with the staff team. Trustees receive a detailed board report and other information prior to each of the four board meetings.

Our twelfth annual UK vision day was held in November 2022. Trustees, senior management, and members of the speaking team invited sponsors and key supporters to hear reports of the activities of the Company over the last year and its forward plans.

4

OCCA HOUSE LIMITED

Trustees' Annual Report (Including Directors' Report and Strategic Report)

Period ended 31 August 2022

Three sub-committees support the Board's activities: one focused on finance and risk, another on peoplerelated matters (HR, premises, welfare, and safeguarding), and the third on governance. The first two committees each meet four times per year, typically by conference or video call. Working parties are periodically convened to look at specific areas that may arise from time to time. Policy is discussed and agreed by the entire Board.

Organisational Structure

Decisions taken by Trustees include those involving premises, leases, strategic partnerships, banking arrangements, financial practices including reserves, governance, approval of accounts, staff-related matters and governance. The Board Chair holds an annual review with the CEO, to whom the executive leadership of the Company is delegated by the Board of Trustees.

Decisions taken by the management team include day to day operational decisions, preparation of the strategic plan and budget for Board discussion and approval, plan and budget delivery, financial and management accounting, management of the staff team, event planning, and delivery, education, and training curricula.

The total staff employed at year-end was 19 (16 FTE).

Risk Management

Our approach to risk takes due note of the guidelines provided by the Charity Commission. Following the guidelines, the Company maintains a risk register that identifies potential risks and assesses the possible impact to the Company of these risks. The register groups the risks into five broad categories: Strategic, Compliance/ Governance & Legal, Operational, Financial, and Reputational.

Risk management is one of the matters addressed by the Finance Committee of the Board. We manage and mitigate potential risks through regular review of the risk register. Key potential risks are assessed during the year by the management team and discussed with the Finance Committee and (if appropriate) with the full Board.

Affiliation

At the start of the previous FY (2020-2021) we had a Ministry Agreement with RZIM Inc. and an agency ministry agreement with RZIM Canada. Both agreements terminated that year, following our independence from the RZIM network. Since 2013, the Company held a 100% beneficial interest in RZIM Turkey, a registered entity with an office in Istanbul. This beneficial interest also ceased in FY 2020-2021, as a result of our independence from the RZIM network. The Company is a member of the UK Evangelical Alliance (UKEA) and the European Evangelical Alliance (EEA).

Day to Day Management of the Company

The Trustees delegate the responsibility for the day-to-day executive management of the Company to the CEO, who reports to the Chair of the Board. Between his appointment in November 2020 and resignation in December 2021, our Interim CEO was Richard Giles. From his appointment in January 2022, our CEO was Charlie Styles.

2. OBJECTIVES AND ACTIVITIES

The Objects of the Company are:

' To advance the Christian faith in accordance with the statement of beliefs appearing in the Schedule (in the Memorandum of Association) in the United Kingdom and elsewhere as the Directors of the Charity (the Trustees) may from time to time think fit .'

Its aims are primarily education, training, communications, speaking, and religious activities. These are discharged through the provision of human resources (staff, volunteers), services and advocacy, advice, and information.

5

OCCA HOUSE LIMITED

Trustees' Annual Report (Including Directors' Report and Strategic Report)

Period ended 31 August 2022

The Company's main activities through the year, carried out throughout the UK and internationally, included speaking, teaching, and training in a variety of contexts, including academia, media, business, and the church.

3. PUBLIC BENEFIT STATEMENT

Each year the Trustees review our objectives and activities to ensure they continue to reflect our aims. In carrying out this review, the Trustees act consistently with the Charity Commission's guidance on public benefit.

As indicated above, the primary aims of the Company are education, training, communications, speaking, and religious activities. These are discharged through the provision of human resources (staff, volunteers), services and advocacy, advice, and information.

The Company carries out a wide range of activities in pursuance of its charitable aims. The Trustees consider that these activities, summarised below, provide benefit to the wider community:

Teaching and training forums are accessible and welcoming venues for discussion and learning by people of all faiths, races, cultures, or creeds and those who wish to know more about the Christian faith. Where a charge is made, concessions and, in some cases, scholarships may be available.

4. STRATEGIC REPORT

OCCA The Oxford Centre for Christian Apologetics exists to play a specific part in the mission of evangelising the world. OCCA aims to model evangelistically fruitful apologetics ministry that is creative and pioneering, characterised by being both intellectually rigorous and tender-hearted. Since its establishment in 2004, OCCA has invested in over 400 individuals from nearly 50 countries through its one-year programme, the month-long course for senior business professionals, and the Doctoral Fellows programme.

Evangelism

Evangelism in universities, government, businesses, churches, schools and youth spheres continued during the financial year. Our team fulfilled hundreds of speaking engagements. The effects of recent events continued to have a slowing effect on the ministry during this financial year. However, the team has grown over the past year and invitations are growing each month.

Education and Training

We have begun plans to create courses for church-based small groups, with the first planned for publication next year. This will be the first stage in a training pathway.

Stage two will be our recently developed Foundational Apologetics course, which began in March 2022, covering sixteen different topics over the course of eight weeks. This is now running regularly with 25-40 delegates on each course.

We will later be creating stage three: a more demanding year-long part-time course and then later adding a full-time programme.

The Doctoral Fellows programme seeks to create and grow an interconnected academic community of evangelists and to train and equip them to use the platform of their academic careers in evangelistically fruitful ways.

6

OCCA HOUSE LIMITED

Trustees' Annual Report (Including Directors' Report and Strategic Report)

Period ended 31 August 2022

The 'Business Programme' geared towards senior executives and professionals did not take place in 2022, following the significant changes we were navigating. However, close contact with Business Programme alumni continues, and the programme is going ahead in 2023.

Media

The team’s new media studio saw activity from both team and partners throughout the financial year. Apart from the new content created by the team, ministry friends and senior fellows partnered with the team in utilizing our media studio for external recordings.

Platform URL Followers
Facebook https://www.facebook.com/theocca 13,221
Instagram https://www.instagram.com/occa.house/ 1,451
Twitter https://twitter.com/theocca 495
YouTube https://www.youtube.com/@OCCAOxford 17,375

REBOOT

The aim of our REBOOT youth apologetics programme is to engage and equip young people with a faith perspective on life's difficult questions, using fun and engaging conferences. Teenage delegates bring their burning questions, wrestle with big topics, and feel heard, understood, and valued as they navigate issues of worldview, science, identity, and faith. We are planning to relaunch this vital ministry in future years.

STRATEGIC AIMS 2022 / 2023

Our desire is to see extended Gospel reach, through growth in evangelistic opportunities. We continue to identify and respond to pertinent questions from non-believers. In addition to maximising evangelism to Youth, Schools, Government, Workplace and Students, we will also seek new avenues in arenas where Christians have not spoken before.

OCCA wants to see believers sharing their faith without fear, in a way that makes sense to the world. We summarise this as confident, connected evangelism.

We do this by Engaging the World by both listening and speaking - seeking to understand the times and express the Christian faith clearly and relevantly to the culture of today. This includes speaking in various contexts and producing written, audio and video material for publication.

We seek to Equip the Church to do the same: working with local churches and Christian organisations to give every Christian confidence to explain the hope they have, investing in a new generation of evangelists who will in turn equip others.

In 2022, we will be particularly focussing of digital content creation in both training and outreach. This will include the delivery of online training courses and relaunching some of our previous activities, including Reboot and the Summer Conference to connect with the widest range of people.

FINANCIAL REVIEW

Performance and Out-turn

The financial year commenced on 1 October 2021 and ended on 31 August 2022. The Company chose to shorten the financial year in FY 2021-2022 by one month (from a previous end date of 30 September) to align future, full 12-month financial years more closely with programme and project budgeting cycles.

7

OCCA HOUSE LIMITED

Trustees' Annual Report (Including Directors' Report and Strategic Report)

Period ended 31 August 2022

The Company operated with a lower average cash balance than in 2021, and with lower income as well as lower interest rates, the interest earned was £3k lower. The lower average cash balance is due to a lack of RZIM funding in 2022 and in line with expectations. The balance on the unrestricted income decreased by £298k to £5.814M (5%) in 2022. The decrease is in line with expectations, following the separation from the RZIM affiliate, resulting in the implementation of a settlement agreement with RZIM. This conditional agreement settles claims between the parties relating inter alia to the funding of the acquisition of the company’s offices, on terms that the properties are to be sold and the proceeds split between the parties.

Principal Funding Sources

FY 2021-2022 was the first FY where the Company was financially independent from RZIM and relied on the generous support of our donors in the UK and elsewhere.

OCCA continued to focus on its training objective through the OCCA Foundational programme in 2022. Restricted grants towards OCCA scholarships enabled us to continue offering scholarships to facilitate applications from a broad diversity of countries and communities. Significant scholarships for students were made available for the 2021-2022 academic year.

Specific online and the annual in-person Vision donor events were organised during the year towards the aim of increasing funding support from the UK.

Fundraising practices

Our fundraising predominantly works through personal contacts and opportunities to share our vision and explain clearly what we do. Our goal is to treat everyone who interacts with us with the same due respect and courtesy and, at the same time, ensure we do this in a way that follows best practice and ensures legal compliance, including meeting the new GDPR requirements. Our fundraising work is carried out by our inhouse team, and we do not use any external professional fundraisers or commercial participators. There have been no reported complaints or failures in respect of our fundraising activities.

Key Management Personnel

After completing an externally-contracted benchmarking in the second half of 2021, ensuring salaries are accurately positioned, in line with Oxford area Charity salaries, the Company continues to review salaries on an annual basis.

Investment Policy

Aside from retaining a prudent amount in reserves (see the next paragraph), the Company's income is spent during the course of the financial year on operational and other expenditure. The Company holds current and deposit accounts in sterling and a current account in US dollars. The Finance Committee of the Board has formulated an investment policy limiting the amounts held in the main current (operating) bank account and promoting the diversification of the sums held in savings accounts amongst different financial institutions.

Reserves Policy

The Board has examined OCCA House’s requirements for reserves in the light of the main risks to the organisation. It established a broad objective whereby the unrestricted funds not committed or invested in tangible fixed assets should equate to at least three months' expenditure. The Board reviewed the reserves policy in September 2022 , maintaining its inclusion of at least three months’ expenditure, as well as a prudent provision for winddown activities, in the event of a significant reduction in income.

The reserves are needed to meet the working capital requirements of the organisation, and the senior management team is confident that the current reserves level would achieve this. As at 31 August 2022 the total funds of the charity were £5,814,401. Of this £252,943 was in restricted funds, £5,297,311 was represented by tangible fixed assets leaving free reserves of £264,147. Unrestricted expenditure in the year was £906,446, and therefore free reserves represents 3.5 months' expenditure, which exceeds the objective.

8

OCCA HOUSE LIMITED

Trustees' Annual Report (Including Directors' Report and Strategic Report)

Period ended 31 August 2022

Governance and Audit

Critchley's Audit LLP was appointed by the Board to provide audit and accounting services for 2021. A full review of audit providers was conducted in 2015.

TRUSTEES' RESPONSIBILITIES

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

Company law requires the Trustees to prepare the financial statements for each financial year. Under that law, Trustees have elected to prepare the financial statements in accordance with the 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 reasonable accuracy at any time the financial position of the company and 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.

The Board of Trustees serving during the year is set out above, in the section on Charity Reference and Administrative Details.

Disclosure of information to the auditors

In accordance with applicable law, we certify that:

In approving the Trustees' Annual Report, we also approve the Strategic Report included therein, in our capacity as company directors.

On behalf of the Board

James Gardner Chair of Board of Trustees, OCCA House Limited

…. June 2023

9

OCCA HOUSE LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OCCA HOUSE LIMITED

Opinion

We have audited the financial statements of OCCA House Limited (the ‘charity’) for the period ended 31 August 2022 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including 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 of the 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 twelve 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. 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. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

Opinions on other matters prescribed by the Companies Act 2006

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

OCCA HOUSE LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF OCCA HOUSE LIMITED

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within 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 trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose 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 the trustees 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 charitable company 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 whether the 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.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

We assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

OCCA HOUSE LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF OCCA HOUSE LIMITED

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

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 directors 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: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Colin Mills (Senior Statutory Auditor) for and on behalf of Critchleys Audit LLP

30 June 2023 .........................

Chartered Accountants Statutory Auditor

Beaver House 23-38 Hythe Bridge Street Oxford OX1 2EP

OCCA HOUSE LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE PERIOD ENDED 31 AUGUST 2022

Unrestricted
funds
2022
Notes
£
Income from:
Donations and legacies
3
672,189
Charitable activities
4
66,546
Investments
5
1,212
Total income
739,947
Expenditure on:
Raising funds
6
109,761
Charitable activities
7
906,446
Total expenditure
1,016,207
Net (outgoing)/incoming
resources before transfers
(276,260)
Gross transfers between
funds
(21,744)
Net (expenditure)/income for
the period/
Net movement in funds
(298,004)
Opening fund balances
5,859,462
Closing fund balances
5,561,458		 Restricted
funds
2022
£
236,443
-
-
236,443
-
112,198
112,198
124,245
21,744
145,989
106,954
252,943		 Total Unrestricted
Restricted
funds
funds
2022
2021
2021
£
£
£
908,632
1,971,743
88,600
66,546
148,446
97,970
1,212
4,034
-
976,390
2,124,223
186,570
109,761
227,193
-
1,018,644
2,020,477
5,997,518
1,128,405
2,247,670
5,997,518
(152,015)
(123,447)
(5,810,948)
-
4,642,170
(4,642,170)
(152,015)
4,518,723
(10,453,118)
5,966,416
1,340,739
10,560,072
5,814,401
5,859,462
106,954		 Total
2021
£
2,060,343
246,416
4,034
2,310,793
227,193
8,017,995
8,245,188
(5,934,395)
-
(5,934,395)
11,900,811
5,966,416

The statement of financial activities includes all gains and losses recognised in the period.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

OCCA HOUSE LIMITED

BALANCE SHEET

AS AT 31 AUGUST 2022

2022
Notes
£
£
Fixed assets
Tangible assets
11
5,297,311
Current assets
Stocks
7,048
Debtors
12
159,385
Investments
13
269,562
Cash at bank and in hand
129,577
565,572
Creditors: amounts falling due within
one year
14
(48,482)
Net current assets
517,090
Total assets less current liabilities
5,814,401
Income funds
Restricted funds
15
252,943
Unrestricted funds
5,561,458
5,814,401
The financial statements were approved and authorised for issue by the Trustees on ........		 2021
£
£
5,405,275
5,040
41,312
518,398
268,733
833,483
(272,342)
561,141
5,966,416
106,954
5,859,462
5,966,416
.................		 2021
£
£
5,405,275
5,040
41,312
518,398
268,733
833,483
(272,342)
561,141
5,966,416
106,954
5,859,462
5,966,416
.................
5,966,416
106,954
5,859,462
5,966,416

.............................. Mr James Gardner Trustee

Company registration number 3449676

OCCA HOUSE LIMITED

STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 31 AUGUST 2022

Notes
Cash flows from operating activities
Cash absorbed by operations
19
Investing activities
Purchase of tangible fixed assets
Proceeds from disposal of investments
Investment income received
Net cash generated from/(used in)
investing activities
Net cash used in financing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period		 2022
£
£
(378,806)
(10,398)
248,836
1,212
239,650
-
(139,156)
268,733
129,577		 2021
£
£
(507,308)
(93,555)
(1,387)
4,034
(90,908)
-
(598,216)
866,949
268,733

OCCA HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2022

1 Accounting policies

Charity information

OCCA House Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 76 Banbury Road, Summertown, Oxford, OX2 6JT.

1.1 Reporting period

The reporting period changed to 31 August 2022 and the 2022 financial statements are presented for a 11 month period.

The reason for this change is so that the financial year is aligned more closely with a general academic year. Going forward, this provides a more practical rhythm for project planning and events, particularly as major strategic projects focusing on students and courses operate on these annual cycles.

Comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

1.2 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document. the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by 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)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

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 financial statements.

1.5 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

OCCA HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2022

1 Accounting policies

(Continued)

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.6 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.

1.7 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings land - nil; buildings 50 years
Building improvements 7 years
Fixtures and fittings 3-5 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

OCCA HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2022

1 Accounting policies

(Continued)

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

Impairment

Impairment of fixed assets (see note 11)

OCCA HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2022

3 Donations and legacies

Unrestricted
Restricted
funds
funds
2022
2022
£
£
Donations and gifts
672,189
236,443
Donations and gifts
Funding from RZIM USA
-
-
Funding from RZIM
Canada
-
-
Other
672,189
236,443
672,189
236,443		 Total
Unrestricted
funds
2022
2021
£
£
908,632
1,971,743
-
1,511,951
-
58,799
908,632
400,993
908,632
1,971,743		 Restricted
funds
2021
£
88,600
-
-
88,600
88,600		 Total
2021
£
2,060,343
1,511,951
58,799
489,593
2,060,343

4 Income from charitable activities

Communica-
tions and
speaking
Training and
education
2022
2022
£
£
Training fees and sale
of goods
-
65,568
Coronavirus Job Retention
Scheme
978
-
978
65,568
Analysis by fund
Unrestricted funds
978
65,568
Restricted funds
-
-		 Total
Communica-
tions and
speaking
Training and
education
2022
2021
2021
£
£
£
65,568
-
107,568
978
138,848
-
66,546
138,848
107,568
66,546
138,848
9,598
-
-
97,970		 Total
2021
£
107,568
138,848
246,416
148,446
97,970

OCCA HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2022

5 Investments

Unrestricted Unrestricted
funds funds
2022 2021
£ £
Interest receivable 1,212 4,034

6 Raising funds

Unrestricted Unrestricted
funds funds
2022 2021
£ £
Fundraising and publicity
Staff costs 48,736 146,276
Support costs 61,025 80,917
Fundraising and publicity 109,761 227,193
109,761 227,193

OCCA HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2022

7 Expenditure on charitable activities

Communica-
tions and
speaking
Training and
education
2022
2022
£
£
Direct costs
524,699
231,148
Impairment
-
-
Scholarship
funding to
students
-
18,696
524,699
249,844
Share of
support costs
(see note 8)
158,888
79,443
Share of
governance
costs (see
note 8)
3,847
1,923
687,434
331,210		 TotalCommunica-
tions and
speaking
Training and
education
Impairment
2022
2021
2021
2021
£
£
£
£
755,847
1,505,774
588,861
-
-
-
-
5,150,000
18,696
-
126,027
-
774,543
1,505,774
714,888
5,150,000
238,331
521,582
120,501
-
5,770
4,376
874
-
1,018,644
2,031,732
836,263
5,150,000		 Total
2021
£
2,094,635
5,150,000
126,027
7,370,662
642,083
5,250
8,017,995

OCCA HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2022

8 Support costs

Depreciation
Office costs
Professional fees
Information technology
Audit fees
Trustees and meeting
expenses
Analysed between
Fundraising
Charitable activities		 Support
costs
Governance
costs
£
£
118,362
-
76,332
-
79,231
-
23,989
-
-
6,300
-
912
297,914
7,212
59,583
1,442
238,331
5,770
297,914
7,212		 2022
£
118,362
76,332
79,231
23,989
6,300
912
305,126
61,025
244,101
305,126		 Support
costs
Governance
costs
£
£
265,230
-
148,695
-
253,356
-
55,719
-
-
5,250
-
-
723,000
5,250
80,917
-
642,083
5,250
723,000
5,250		 2021
£
265,230
148,695
253,356
55,719
5,250
-
728,250
80,917
647,333
728,250

Support costs are allocated in proportion to the staff engaged in each activity

Governance costs includes payments to the auditors of £6,300 (2021- £5,500) for audit fees. In addition there were amounts due for the year to the auditor for non-audit services of £1,800 (2021: £1,600).

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration during the period, but one of them was reimbursed a total of £653 travelling expenses (2021- none were reimbursed £nil).

10 Employees

The average monthly number of employees during the period was:

Raising funds
Communications and speaking
Training and education
Total		 2022
Number
3
8
4
15		 2021
Number
4
24
8
36

OCCA HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2022

10
Employees
Employment costs
Wages and salaries
Social security costs
Other pension costs		 (Continued)
2022
2021
£
£
530,264
1,867,262
61,650
188,378
53,223
217,786
645,137
2,273,426		 (Continued)
2022
2021
£
£
530,264
1,867,262
61,650
188,378
53,223
217,786
645,137
2,273,426
2,273,426

Included in wages and salaries above is termination costs of £Nil (2021 £466,077).

The total amount of employee benefits, including the cost of employers' national insurance, related to key management personnel is £243,978 (2021 - £818,430). The charity considers its key management personnel comprise the trustees and the senior management team.

The number of employees whose annual remuneration was more than £60,000 is as follows:

is as follows:
2022 2021
Number Number
£60,001 to £70,000 - 1
£70,001 to £80,000 - 1
£80,001 to £90,000 - 2
£90,001 to £100,000 - 1
£120,001 to £130,000 - 1

11 Tangible fixed assets

Freehold land
and buildings
Building
improvements
£
£
Cost
At 1 October 2021
10,809,016
571,721
Additions
-
2,346
At 31 August 2022
10,809,016
574,067
Depreciation and impairment
At 1 October 2021
5,656,026
500,109
Depreciation charged in the period
-
23,094
At 31 August 2022
5,656,026
523,203
Carrying amount
At 31 August 2022
5,152,990
50,864
At 30 September 2021
5,152,990
71,612		 Fixtures and
fittings
£
512,691
8,052
520,743
332,018
95,268
427,286
93,457
180,673		 Total
£
11,893,428
10,398
11,903,826
6,488,153
118,362
6,606,515
5,297,311
5,405,275

OCCA HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2022

11 Tangible fixed assets

(Continued)

Following on from the separation of this charity from the RZIM affiliate (from which the charity received much of the funds used to purchase the charity’s headquarters), it has been agreed that a proportion of the proceeds from the sales of the properties will be returned to RZIM. An impairment provision has been made so that the net book value of the freehold property is the Trustees’ estimate of the recoverable amounts after taking into account the proportion of the proceeds that will be returned to RZIM. As there are no longer any restrictions associated with the residual amount the balance of the restricted capital fund has been transferred to unrestricted reserves.

12 Debtors

Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
Current asset investments
Short-term deposits
Creditors: amounts falling due within one year
Trade creditors
Other creditors
Accruals and deferred income		 2022
£
2,821
72
156,492
159,385
2022
£
269,562
2022
£
3,247
4,752
40,483
48,482		 2021
£
5,371
72
35,869
41,312
2021
£
518,398
2021
£
-
24,400
247,942
272,342

13 Current asset investments

14 Creditors: amounts falling due within one year

OCCA HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2022

15 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Balance at
1 October 2020
£
Capital
10,483,058
Africa
-
DACH
-
Media
-
OCCA
-
Reboot youth work
52,955
Scholarship support
12,883
Wellspring International
11,176
Ministry Work
-
Digital Services
-
10,560,072		 Movement in funds
Income
Expenditure
Transfers
Balance at
1 October 2021
£
£
£
£
-
(5,262,125)
(5,220,933)
-
2,000
-
-
2,000
2,980
-
-
2,980
18,131
(20,659)
2,528
-
138,399
(714,634)
576,235
-
25,000
(100)
-
77,855
-
-
-
12,883
60
-
-
11,236
-
-
-
-
-
-
-
-
186,570
(5,997,518)
(4,642,170)
106,954		 Movement in funds
Income
Expenditure
Transfers
£
£
£
-
(15,787)
15,787
-
(2,000)
-
-
(8,937)
5,957
-
-
-
-
-
-
30,000
(12,500)
-
-
-
-
(10,407)
(829)
-
103,194
(58,465)
-
113,656
(13,680)
-
236,443
(112,198)
21,744		 Balance at
31 August
2022
£
-
-
-
-
-
95,355
12,883
-
44,729
99,976
252,943

OCCA HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE PERIOD ENDED 31 AUGUST 2022

15 Restricted funds

(Continued)

The Capital Fund is provision of premises for the Company's headquarters and for its ministries. Please see the tangible fixed assets note for the reasons behind the 2021 transfer.

The Reboot fund is used for expenditure on youth apologetics.

The Scholarship/support fund provides scholarships and assists with students' living costs. Due to a temporary pause on funding external programmes this financial year, there were no scholarships issued.

The Wellspring International fund was for RZIM humanitarian projects and the balance was returned to RZIM following a final intercompany settlement after our separation from RZIM.

The Ministry work fund supports various global speaking projects.

The Digital services is for OCCA media and communications costs

OCCA HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2022

16
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2022
2022
£
£
Fund balances at 31
August 2022 are
represented by:
Tangible assets
5,297,311
-
Current assets/(liabilities)
264,147
252,943
5,561,458
252,943		 Total
Unrestricted
funds
2022
2021
£
£
5,297,311
5,405,275
517,090
454,187
5,814,401
5,859,462		 Restricted
funds
2021
£
-
106,954
106,954		 Total
2021
£
5,405,275
561,141
5,966,416

17 Events after the reporting date

On 7 December 2021 OCCA House Limited signed an unsecured loan agreement which provides a facility of £500,000 to further OCCA House Limited’s charitable objectives. The facility allows drawdowns of at least £100,000 each and is repayable in full on the earlier of 7 December 2027 and the date of sale of 76 and 78 Banbury Road, Oxford. The loan accrues interest at a rate of 5% per annum, payable quarterly. No amounts had been drawn down on the loan by 31 August 2022 but drawdowns have commenced since the year-end.

18 Related party transactions

Included in donations is a total of £122,800 (2021 - £29,100) donated by trustees and expense of £653 (2022£Nil).

19

Cash generated from operations
Deficit for the period
Adjustments for:
Investment income recognised in statement of financial activities
(Gain)/loss on disposal of tangible fixed assets
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase)/decrease in stocks
(Increase)/decrease in debtors
(Decrease) in creditors
Cash absorbed by operations		 2022
2021
£
£
(152,015)
(5,934,395)
(1,212)
(4,034)
-
31,322
118,362
5,383,908
(2,008)
4,746
(118,073)
93,376
(223,860)
(82,231)
(378,806)
(507,308)		 2022
2021
£
£
(152,015)
(5,934,395)
(1,212)
(4,034)
-
31,322
118,362
5,383,908
(2,008)
4,746
(118,073)
93,376
(223,860)
(82,231)
(378,806)
(507,308)
(507,308)