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2022-03-31-accounts

THE OAK FOUNDATION TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

THE OAK FOUNDATION

INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

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 A. Farooq
Ms S. Sajjad
Ms S. Aslam
Ms S. Ali
Ms M. Omer
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
304 Mayfair Point
34 South Molton Street
London, England
W1K 5RG
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 2022

The trustees present their report with the financial statements for the year ended 31 March 2022. 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 2021/22 OVERVIEW

The Statement of Financial Activities on page 8 shows net movement in funds for the year of £74,603. Our reserves stand at £573,752 in total.

The Financial Year 2021/22 has been most challenging but was ultimately a successful year for our charity. COVID-19, Presented us with many challenges but at the same time gave us the opportunity to reflect on our services. As a result, we decided to expand our services to domiciliary care. We submitted the application for Care Quality Commission registration in January 2021. In December 2021 we successfully completed our registration.

This has enabled us to expand our services for families dealing with chronically ill children and adults. This project is regulated by Care Quality Commission. Despite the challenges, our charity's financial situation remains strong.

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 2022

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. All our services are developed with a person-centred approach.

At The Oak Foundation, we aim to assist children and adults with disabilities to live life as fully 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 face.

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 12 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 of our objectives and activities.

We have referred back 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.

This year, we started our Adult Day Care service. This service has been planned for the last two years and started in February 2021 with the support and approval of local health and social care agencies.

4

THE OAK FOUNDATION

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2022

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.

Early years nursery: “Little Star”

We had to close our nursery during lockdown in line with government guidelines. This did result in loss of income and childcare places for our day care nursery. This has been a difficult year and it will take time to recover. All our staff are working hard to rebuild the nursery and increase the number of available places to pre-lockdown levels.

5

THE OAK FOUNDATION

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2022

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.

As we are registered with the CQC (Care and Quality Commission). We have purchased training packages to make sure all our staff is fully trained to deliver services under Care Quality commission regulations.

This will enable us to expand our services for families dealing with chronically ill children and adults.

We have applied to local authorities for Allotment for our new gardening project. This will enable us to take group of young disabled adults every week to learn gardening skills and healthy living.

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:

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.

.......................................

Mrs F Hussain – Trustee 26 January 2023

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 2022.

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:

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:

Muhammad J Raza FCCA Silverstone & Co Chartered Certified Accountants 304 Mayfair Point

34 South Molton Street London W1K 5RG 26 January 2023

7

THE OAK FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MARCH 2022

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, 2021
Funds at 31 March, 2022		 Unrestricted
Funds
£
291
-
-
-
86
377
-
300
-
300
77
3,163
3,240		 Restricted
Funds
£
-
260,268
310,393
31,846
-
-
602,507
500,390
26,872
720
527,982
74,526
495,986
570,512		 2022
Total
£
291
260,268
310,393
31,846
-
86
602,884
500,390
27,129
720
528,282
74,603
499,149
573,752		 2021
Total
£
595
240,482
190,632
153,473
26,000
561
611,743
373,098
25,316
720
399,134
212,608
286,541
499,149

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 2022

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		 2022
£
125,660
-
456,490
456,490
(8,398)
448,092
573,752
3,240
570,512
573,752		 2021
£
98,774
12,748
395,981
408,729
(8,355)
400,373
499,149
3,163
495,986
499,149

ON BEHALF OF THE TRUSTEES:

…………………………………….. Mrs. S. Ahmed 26 January 2023

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 2022

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 Fixtures, fittings & equipment 25% reducing balance Motor vehicles 25% straight-line

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:

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 2022

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
3.Management and administration
costs
Staff costs
Rent and rates
Bookkeeping
Printing, postage, and stationery
Unrestricted
Funds
£
-
-
300
-
300		 Restricted
Funds
£
350,759
2,803
51,970
1,822
10,695
6,570
31
3,215
6,673
14,953
3,752
12,241
483
5,650
25,933
2,838
500,390
Restricted
Funds
£
10,848
12,993
2,857
174
26,872		 2022
£
350,759
2,803
51,970
1,822
10,695
6,570
31
3,215
6,673
14,953
3,752
12,241
483
5,650
25,933
2,838
500,390
2022
Total
£
10,848
12,993
3,157
174
27,172		 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

4. Governance costs

Independent Examiners’ fee

2022
£
720		 2021
£
720

11

THE OAK FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

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		 2022
£
25,933
720
347,374
14,233
361,608		 2021
£
15,400
720
264,375
5,027
269,402

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 2021
Additions during the year
At 31 March 2022
Depreciation
At 1 April 2021
Charge for the year
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021		 Leasehold
Improve-
ments
£
90,181
43,455
133,636
74,042
4,292
78,334
55,302
16,139		 2022
2021
Number
Number
18
18
30
33
48
51
Fixtures
Fittings &
Motor
Equipment
Vehicles
Total
£
£
£
87,680
66,900
244,761
9,363
-
52,818
97,043
66,900
297,579
66,464
5,480
145,986
6,286
15,355
25,933
72,750
20,835
171,919
24,293
46,065
125,660
21,216
61,420
98,774		 2022
2021
Number
Number
18
18
30
33
48
51
Fixtures
Fittings &
Motor
Equipment
Vehicles
Total
£
£
£
87,680
66,900
244,761
9,363
-
52,818
97,043
66,900
297,579
66,464
5,480
145,986
6,286
15,355
25,933
72,750
20,835
171,919
24,293
46,065
125,660
21,216
61,420
98,774
297,579
145,986
25,933
171,919
125,660
98,774

12

THE OAK FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

8. Debtors
Due within one year:
Other debtors
Prepayments		 2022
£
-
-
-		 2021
£
12,748
-
12,748
9.Creditors:amounts falling due within one year:
Other creditors
Accruals		 7,425
973
8,398		 2,381
973
3,354
10. Funds
Unrestricted
Restricted		 Balance at
1 April
2021
£
3,163
495,986		 Income/
Transfers
£
377
602,507		 Balance at
Expenditure
/Transfers
31 March
2022
£
£
300
3,240
527,982
570,512

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
£
-
213,148
213,148		 Restricted
Funds
£
125,660
234,944
360,604		 2022
Total
£
125,660
448,092
573,752		 2021
Total
£
98,774
400,373
499,147

13

THE OAK FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

12. Financial commitments

The company was committed to make the following payments under the non-cancellable operating leases in the year to 31st March 2022.

Within 1 year
Within 2 to 5 years		 Land &
Buildings
2022
£
63,524
254,096
317,620		 Land &
Buildings
2021
£
-
63,524
63,524

14

THE OAK FOUNDATION

DETAILED INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2022

INCOME
Revenue Grants
-Restricted
LBWF – Social Services
Direct Carers Payments
Donations
Grants -
Investment Income
Bank deposit interest
Grants
Total Income
LESS: EXPENDITURES
Profit for the year
Total funds at 1 April
Total funds at 31 March		 2022
£
260,268
310,393
291
570,952
86
31,846
602,884
(528,282)
74,602
499,149
573,752		 2021
£
240,482
190,632
595
431,709
561
179,473
611,743
(399,135)
212,608
286,541
499,149

15

THE OAK FOUNDATION

ANALYSIS OF EXPENDITURES

FOR THE YEAR ENDED 31 MARCH 2022

Salaries, wages, and social security
Rent and rates
‘In Kind Direct’ fees
Depreciation
Direct carer payments
Day care nursery costs
Repairs and maintenance
Insurance
Weekend club
Telephone
Small equipment
Van expenses
Heat and Light
Staff training and other expenses
Subscription and professional fees
Independent examiners’ fee
Bookkeeping
Printing, postage, and stationery		 2022
£
361,608
64,963
12,241
25,933
3,752
7,477
10,695
3,215
7,477
1,822
483
5,650
2,803
13,243
2,838
720
3,157
205		 2021
£
269,402
64,314
9,694
15,400
1,636
4,857
4,972
1,862
4,857
1,570
782
6,136
1,259
7,250
35
720
4,267
122
528,282 399,135

16