THE OAK FOUNDATION
TRUSTEES, REPORT AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
## **THE OAK FOUNDATION**
**INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
Page 1 Index Page 2 Charity Information Pages 3 - 6 Trustees’ Report Page 7 Independent Examiners' Report Page 8 Statements of Financial Activities Page 9 Balance Sheet Pages 10 - 14 Notes to the Financial Statements
1
## **THE OAK FOUNDATION**
## **CHARITY INFORMATION**
|**TRUSTEES**|Mrs S. Ahmed - Chairperson|
|---|---|
||Mrs F. Hussain|
||Ms R Noor - Treasurer|
||Mrs U. Bashir|
||Ms S. Mahmood|
|**REGISTERED OFFICE**|61 Fillebrook Road|
||Leytonstone|
||London|
||E11 4AU|
|**BUSINESS ADDRESS**|2a Boundary Road|
||Walthamstow|
||London|
||E17 8JU|
|**CHARITY NUMBER**|1092967|
|**INDEPENDENT EXAMINERS**|Silverstone & Co|
||Chartered Certified Accountants|
||Fourth Floor|
||39 Ludgate Hill|
||London|
||EC4M 7JN|
|**BANKERS**|The Cooperative Bank Plc.|
||P. O. Box 250|
||Skelmersdale|
||W98 6WT|
|**SOLICITORS**|Rafiq and Company|
||14 (B) Queens Road|
||Walthamstow|
||London E17 8PX|
2
## **THE OAK FOUNDATION**
## **TRUSTEES’ REPORT**
## **FOR THE YEAR ENDED 31 MARCH 2021**
The trustees present their report with the financial statements for the year ended 31 March 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) ‘‘Accounting and Reporting by Charities’’ issued in May 2005 in preparing the annual report and financial statements of the charity.
## **INTRODUCTION**
The Oak Foundation (formerly Waltham Forest Asian Mothers Group) was constituted in 1984 and registered with the Charity Commission for England and Wales on 16[th] July 2002 (under the Charities Act).
The main activity of the Charity is to provide services to children and adults with disabilities from all groups and cultural backgrounds within the Waltham Forest Communities. The Charity is also registered with the Office for Standards in Education (OFSTED) as a childcare provider agency.
The Trustees and Executive Management Committee this year comprised five mothers (of children and young adults with disabilities), who were all volunteers and collectively responsible for managing the Charity.
## **OBJECTIVE FOR THE PUBLIC BENEFIT**
The aim of the Charity is to improve the quality of life for families who have children and young adults with disabilities living in the London Borough of Waltham Forest and Neighbouring Boroughs. The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Trust’s aims and objectives and in planning future activities and setting the policies for the year.
## **FINANCIAL YEAR 2020/21 OVERVIEW**
The Statement of Financial Activities on page 8 shows net movement in funds for the year of £212,608. Our reserves stand at £499,148 in total.
The Financial Year 2020/21 has been most challenging but was ultimately a successful year for our charity. Due to COVID-19, we had to establish different ways of working and delivering our services. Thanks to everyone at the organisation's hard work, we were able to keep most of our services running throughout subsequent lockdowns and were recognised as a key frontline support organisation by Waltham Forest social services.
We developed new services and projects, as well as welcoming new volunteers and staff members. This year has challenged many of our beliefs and work methods. Despite the challenges, our charity's financial situation remains stable and we were even able to offer staff a pay increase during the financial year.
## **OUR ACTIVITIES THIS YEAR FOR PUBLIC BENEFIT**
Our goal is to provide equal opportunities to children, vulnerable young people and adults with disabilities. We also provide respite to carers looking after children and young people with lifethreatening illness. We work within the area covered by the London borough of Waltham Forest and its directly neighbouring Boroughs.
3
## **THE OAK FOUNDATION**
## **TRUSTEES’ REPORT**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **Aims and objectives.**
In order to provide equal opportunities for these individuals and their carers, we remain a user-led group with the firm belief that children and young people with disabilities, together with their carers, are the best people to define the type of support and services they require. We encourage people using our services to help us develop new initiatives according to their changing needs.
At The Oak Foundation, we aim to assist children and adults with disabilities to live life as normal as possible and be active in their local community. We work to increase public awareness of the needs, abilities and achievements of people with disabilities, as well as the issues their families and carers face. We are committed to treating our clients in an anti-discriminatory manner and raising awareness about the issues they are facing.
## **Ensuring our work delivers our aims**
We review our aims, objectives and activities each year. This review considers what we have achieved and the outcomes of our work across the previous twelve months. We look at each key activity, asking if it has been successful and what benefits it has brought to those groups of people we are working to help. The review also helps us to maintain a clear focus on our stated purpose through all our objectives and activities.
We have referred to the information contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives or planning our future activities. In particular, the trustees consider how planned activities will contribute to delivery of the goals they have set.
## **Services and activities**
We believe that children and young people have the right to play, learn and develop their skills in a safe environment. We aim to provide access to leisure and sporting activities that are enjoyable and stimulating for their development.
In the past year, children have enjoyed a variety of trips to the seaside, national theme parks, local zoos, theatre, cinemas, parks, shopping centres, bowling and boats, as well as regular participation in multi-sports sessions, hockey, swimming and softball. Children have been taken to various restaurants to enjoy meals together and they have experienced living life independent of obstacles that may be associated with their disabilities. These activities have helped the children to become more sociable, confident and independent, allowing them to develop their social skills.
## **The Effects of COVID-19**
With the rapid spread and effects of COVID-19, in the UK and across the world. We took immediate action to protect our service users and staff. Packs of hand sanitisers, gloves and masks were issued to all staff members, and wall mounted hand sanitisers were put at several entrance points in our building. We organised COVID-19 safety training for all of our staff. We also facilitated free COVID-19 tests to be available to all staff and their family members who were showing symptoms of COVID-19.
4
## **THE OAK FOUNDATION**
## **TRUSTEES’ REPORT**
## **FOR THE YEAR ENDED 31 MARCH 2021**
During the year, following the COVID-19 situation and government announcements, our Early year nursery was closed until further announcement.
We decided to keep our short break services for disabled children open on an individual one- to-one staff basis and cancelled all our group activities. In line with national guidelines, some of our staff had to work from home and most of our staff members had to be placed on the government furlough scheme.
## **Services provided to children and young people**
- Weekend Play Scheme
- Holiday Play Schemes
- Child Support Service
- Siblings Outings
- After School Club
- One-to-One Support Through Direct Payment
- Fitness Club
- PGL Residential Holiday
- Early-Years Day Care Nursery
- Early-Years Apprenticeships.
## **Services provided to carers**
- Carers Trips
- Carers Support Group Meetings
- Yearly Conference on Health Issues
- Training for Carers
- Benefit Advice Sessions
- “Stay Healthy” Club
## **Early years nursery: “Little Star”**
“Little Stars” has proved to be a great way forward for our charity. We are able to offer places to children with disabilities from the age of three months up to five years. We are now offering regular places on our NVQ2 and NVQ3cources to students through our apprenticeships scheme. This is an excellent result in such a short period of time.
Our day care Nursery, “The Little Stars” is now working in its full capacity. We are now receiving referrals through our new website. This has made it easy for parents and professional to contact us any time suitable for them.
5
## **THE OAK FOUNDATION**
## **TRUSTEES’ REPORT**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **Future plans**
We plan to continue the activities outlined above in the forthcoming year, subject to satisfactory funding arrangements. Proposals are also being developed to work on a number of schemes with local job centres to offer more apprenticeships to our service users.
## **Acknowledgment**
We are getting regular donations through our website. Thank you to all our donors. This support is very much appreciated. We would also like to thank all of our staff and volunteers for continuing to work during these challenging times.
One of our service user’s parents sent a heartfelt message, which speaks volume for our work and our staff’s commitment: **“Every Thursday when all the nation is clapping for NHS our family is clapping for The Oak Foundation, thank you for supporting us.”**
We wish to thank the following funders for their support:
- LBWF Social Services
- Variety Club
- In Kind Direct
We would like to give a special thanks to all of the charity’s supporters and volunteers, without whom our work would not be possible.
## _F Hussain_
....................................... Mrs F Hussain – Trustee 25 August 2021
6
## **REPORT OF THE INDEPENDENT EXAMINERS TO THE MEMBERS OF**
## **THE OAK FOUNDATION**
I report on the accounts of The Oak Foundation (the client) for the year ended 31 March 2021.
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.
It is my responsibility to:
- examine the accounts under Section 145 of the 2011 Act
- to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
- to state whether particular matters have come to my attention.
## **Basis of the independent examiner's statement**
My examination was carried out in accordance with the General Directions given by the Charity Commission. The examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the client as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below.
## **Independent examiner's statement**
In connection with my examination, no material matter has come to my attention:
- (1) which gives me reasonable cause to believe that, in any material respect,
- the accounting records were not kept in accordance with section 130 of the Charities Act; or
- the accounts did not accord with the accounting records; or
- the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
## _M. Jaweed Raza_
Muhammad J Raza FCCA Silverstone & Co Chartered Certified Accountants Fourth Floor 39 Ludgate Hill London EC4M 7JN 25 August 2021
7
## **THE OAK FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **FOR THE YEAR ENDED 31 MARCH 2021**
|**Notes**
**INCOMING RESOURCES**
Donations received
Activities to further the charity's objects:
Service agreements – local authority
Direct payments receivable
Grants – CJRS
Other Grants
Bank interest
Total income
**RESOURCES EXPENDED**
Cost of charity activities
2
Management and administration costs
3
Governance costs
4
Total resources expended
**Net movement in funds**
**Funds at 01 April, 2020**
**Funds at 31 March, 2021**|Unrestricted
Funds
**£**
595
-
-
561
1,156
-
750
-
750
406
2,757
3,163|Restricted
Funds
**£**
-
240,482
190,632
153,473
26,000
-
610,587
373,203
24,462
720
398,385
212,202
283,783
495,985|**2021**
Total
**£**
595
240,482
190,632
153,473
26,000
561
611,743
373,203
25,212
720
399,135
212,608
286,540
499,148|**2020**
Total
**£**
1,374
195,540
282,712
-
506|
|---|---|---|---|---|
|||||480,132|
|||||370,690
19,876
720|
|||||391,286|
|||||88,846
197,694|
|||||286,540|
There were no recognised gains or losses other than those recognised in the Statement of Financial Activities.
8
## **THE OAK FOUNDATION**
## **BALANCE SHEET**
## **AS AT 31 MARCH 2021**
|**Notes**
**FIXED ASSETS**
Tangible assets
7
**CURRENT ASSETS**
Debtors
8
Cash at bank and in hand
**CREDITORS:**Amounts falling due
Within one year:
9
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS**
**CURRENT LIABILITIES**
**FUNDS**
Unrestricted funds
10
Restricted funds
10
**TOTAL FUNDS**|**2021**
**£**
98,775
12,748
395,980
408,728
8,355
400,373
499,148
3,163
495,985
499,148|**2020**
**£**
31,721|
|---|---|---|
|||-
260,806|
|||260,806|
|||5,987|
|||254,819|
|||286,540|
|||2,757
283,783|
|||286,540|
ON BEHALF OF THE TRUSTEES:
## _S Ahmed_
…………………………………….. Mrs. S. Ahmed 25 August 2021
The notes on pages 10 to 14 form part of these financial statements.
9
## **THE OAK FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **1. Accounting Policies**
## **Basis of preparation of financial statements**
The financial statements are prepared under historical cost convention. The financial statements have been prepared in compliance with the Statement of Recommended Practice: Accounting and Reporting by Charities issued in March 2005, applicable accounting standards and the Companies Act 2006. The company has taken the advantage of exemption in Financial Reporting Standard No. 1 from the requirement to produce a cash flow statement.
## **Tangible fixed assets and depreciation**
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Leasehold improvements 15% reducing balance basis Toys library 50% reducing balance basis Fixtures, fittings & equipment 25% reducing balance basis Motor vehicles 25% straight-line basis
## **Income**
Income from grants is credited to the Statement of Financial Activities in the period to which it relates. Unexpended grants are carried forward to the reserves of the Company. Investment income represents the bank deposit interest and is recognised in the financial statements when it is received.
## **Categories of funds**
Funds held by the company are either:
- **Unrestricted funds:** funds that can be used in accordance with the charitable objects at the discretion of the Director and Management Committee
- **Restricted funds:** funds that can only be used for particular purposes within the objects of the company as specified by the donor, when funds are raised for specific projects.
## **Operating lease**
Rentals payable under operating lease are charged to the Statement of Financial Activities as incurred over the term of the lease.
## **Taxation**
Value added tax is not recoverable by the company, and as such is included in the relevant costs in the Statement of Financial Activities. The company is exempt from corporation tax on its charitable activities.
## **Management and administration costs**
Management and administration costs of the company include costs not directly related to the charitable activities, which includes costs of running the company such as staff salaries, a portion of rent, audit and statutory compliance and a proportion of other overhead costs.
10
## **THE OAK FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2021**
|**2. Cost of charity activities**
Staff costs
Heat and light
Rent and rates
Telephone and fax
Repairs and maintenance
Training and courses
Printing, postage and stationery
Insurance
Weekend club
Day care nursery costs
‘Direct carer’ payments
‘In Kind Direct’ Fees
Small equipment expensed
Van expenses
Depreciation
Subscription and professional fees
Sundries
**3.Management and administration**
**costs**
Staff costs
Rent and rates
Bookkeeping
Printing, postage and stationery
Sundry expenses
**4. Governance costs**
Independent Examiners’ fee|
**Unrestricted**
**Funds**
**£**
-
750
-
-
-
750|**Restricted**
**Funds**
**£**
261,320
1,259
51,451
1,570
4,972
7,250
122
1,862
4,857
4,857
1,636
9,694
782
6,136
15,400
35
-
373,203
**Restricted**
**Funds**
**£**
8,082
12,113
4,267
-
-
24,462|**2021**
**£**
261,320
1,259
51,451
1,570
4,972
7,250
122
1,862
4,857
4,857
1,636
9,694
782
6,136
15,400
35
-
373,203
**2021**
**Total**
**£**
8,082
12,863
4,267
-
-
25,212
**2021**
**£**
720|**2020**
**£**
232,987
986
46,556
1,791
17,020
8,556
172
2,380
3,884
10,578
11,716
13,583
1,326
8,270
7,596
3,186
103
370,690
**2020**
**Total**
**£**
6,935
11,639
1,117
172
13
19,876
**2020**
**£**
720|
|---|---|---|---|---|
11
## **THE OAK FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **5. Net surplus for the year**
|**5. Net surplus for the year**
Net incoming resources for the period are stated after charging:
Depreciation of tangible fixed assets
- Owned by the company
Independent Examiners’ fee
**6. Staff costs**
Total emoluments paid to staff:
Wages and salaries
Social security and pension costs|**2020**
**£**
15,398
720
264,375
5,027
269,402|**2020**
**£**
7,596|
|---|---|---|
|||720|
|||233,210
6,712|
|||232,922|
No employee received emoluments of more than £60,000. The average weekly number of staff employed was as follows:
|Direct charitable work: Part time
Casual
**7.Tangible fixed assets**
**Cost**
At 1 April 2020
Additions during the year
At 31 March 2021
**Depreciation**
At 1 April 2020
Charge for the year
At 31 March 2021
**Net book value**
At 31 March 2021
At 31 March 2020|**Leasehold**
**Improve-**
**ments**
90,181
-
90,181
72,091
1,951
74,042
16,139
18,090|**Toys/**
**Books**
**Library**
**£**
-
-
-
-
-
-
-
-|**2021**
**2020**
**Number**
**Number**
18
18
33
44
51
62
**Fixtures**
**Fittings &**
**Motor**
**Equipment**
**Vehicles**
**Total**
**£**
**£**
**£**
72,128
-
162,309
15,552
66,900
82,452
87,680
66,900
244,761
58,497
-
130,588
7,967
5,480
15,398
66,464
5,480
145,986
21,216
61,420
98,775
13,631
-
31,721|**2021**
**2020**
**Number**
**Number**
18
18
33
44
51
62
**Fixtures**
**Fittings &**
**Motor**
**Equipment**
**Vehicles**
**Total**
**£**
**£**
**£**
72,128
-
162,309
15,552
66,900
82,452
87,680
66,900
244,761
58,497
-
130,588
7,967
5,480
15,398
66,464
5,480
145,986
21,216
61,420
98,775
13,631
-
31,721|
|---|---|---|---|---|
|||||244,761|
|||||130,588
15,398|
|||||145,986|
|||||98,775|
|||||31,721|
12
## **THE OAK FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2021**
|**8. Debtors**
Due within one year:
Other debtors
Prepayments
**9.Creditors:**amounts falling due within one year:
Other creditors
Accruals|**2021**
**£**
12,748
-
12,748
7,381
973
8,354|**2020**
**£**
-
-|
|---|---|---|
|||-|
|||5,014
973|
|||5,987|
|**10. Funds**
**Unrestricted**
**Restricted**|**Balance at**
**1 April**
**2020**
**£**
2,757
283,783
|**Income/**
**Transfers**
**£**
1,156
610,587|**Balance at**
**Expenditure**
**/Transfers**
**31 March**
**2021**
**£**
**£**
750
3,163
398,385
495,985|
|---|---|---|---|
All the above funds are used to carry out charitable work in the London Borough of Waltham Forest and its neighbouring Boroughs.
|**11.Analysis of net assets**
Tangible fixed assets
Net current assets|**Unrestricted**
**Funds**
**£**
-
-
-|**Restricted**
**Funds**
**£**
98,775
400,373
499,148|**2021**
**Total**
**£**
98,775
400,373
499,148|**2020**
**Total**
**£**
31,721
254,819|
|---|---|---|---|---|
|||||286,540|
13
## **THE OAK FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **12. Financial commitments**
The company was committed to make the following payments under the non-cancellable operating leases in the year to 31st March 2021.
|
the year to 31st March 2021.|||
|---|---|---|
|Within 1 year
Within 2 to 5 years|**Land &**
**Buildings**
**2021**
**£**
-
63,524
63,524|**Land &**
**Buildings**
**2020**
**£**
-
46,200|
|||46,200|
14