THE OAK FOUNDATION
TRUSTEES, REPORT AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
## **THE OAK FOUNDATION**
## **INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
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 Notes to the Financial Statements
Pages 10 - 14
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** Whitefield Solicitors 384-388 Hoe Street Walthamstow E17 9AA
2
## **THE OAK FOUNDATION**
## **TRUSTEES’ REPORT**
## **FOR THE YEAR ENDED 31 MARCH 2023**
The trustees present their report with the financial statements for the year ended 31 March 2023. 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 benefits when reviewing the Trust’s aims and objectives and in planning future activities and setting the policies for the year.
## **FINANCIAL YEAR 2022/23 OVERVIEW**
The Statement of Financial Activities on page 8 shows net movement in funds for the year of £57,944. Our reserves stand at £631,696 in total.
The Financial Year 2022/23 has been a successful year for The Oak Foundation. We opened our Adult Day Centre for disabled people, began The Healthy Living Project, as well as delivering domiciliary care.
We have now expanded our services for families dealing with chronically ill children and adults. This project is regulated by Care Quality Commission. Last year we completed our Care Quality Commission registration. This year we had our first inspection. We were awarded “Good rating in all five standards”.
After 4 years we were inspected by Ofsted and maintained our “GOOD “rating.
In our annual food standards health and hygiene inspection, we also maintained our “5 star” rating.
With all the extra work completed and new projects set up, our charity's financial situation remains strong.
3
## **THE OAK FOUNDATION**
## **TRUSTEES’ REPORT**
## **FOR THE YEAR ENDED 31 MARCH 2023**
## **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.
## **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.
4
## **THE OAK FOUNDATION**
## **TRUSTEES’ REPORT**
## **FOR THE YEAR ENDED 31 MARCH 2023**
In the past year, children have enjoyed trips to the seaside, national theme parks, zoos, cinemas, parks, shopping centres, bowling alleys 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.
We have completed major renovation work to our building with guidance from the local authorities for fully disabled access.
## **Services provided to children and young people.**
- Weekend Play Scheme
- Holiday Play Schemes
- Child Support Service
- After School Club
- One-to-One Support Through Direct Payment
- Out and about days out for over 19-year-old
- Fitness Club
- Early-Years Day Care Nursery
- Early-Years Apprenticeships
- Adult Day Care
## **Early years nursery: “Little Star”**
We had our OFSTED inspection this year and maintained our “GOOD” rating.
## **Adult Day Care Service**
Our Adult Day Care service has been highly valued by carers of disabled adults and the Local Authority.
Last year we aimed to provide services to 8 service users. This year we have 18 Adult service users in our Day Centre.
This service is regulated by Care Quality Commission (CQC).
We completed our registration last year. In January 2023 we had our first inspection. We were awarded “GOOD’ rating in all five standards.
5
## **THE OAK FOUNDATION**
## **TRUSTEES’ REPORT**
## **FOR THE YEAR ENDED 31 MARCH 2023**
## **Healthy Living Project**
We now have a Community Gardening allotment plot. This is used to support disabled young adults and children to learn how to grow their own vegetable and flowers. This is helping them to learn independent living skills and have increased their confidence and self-esteem.
## **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.
Our aim is to have all our staff fully trained to manage every aspect of care to Chronically ill children and adults.
## **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.
We wish to thank the following funders for their support:
- LBWF Social Services
- 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.
.......................................
Mrs F Hussain – Trustee 13 July 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 2023.
## **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.
Muhammad J Raza FCCA Silverstone & Co Chartered Certified Accountants 304 Mayfair Point 34 South Molton Street London W1K 5RG 13 July 2023
7
## **THE OAK FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **FOR THE YEAR ENDED 31 MARCH 2023**
|**Notes**
**INCOMING RESOURCES**
Donations received
Activities to further the charity's objects:
Service agreements – local authority
Direct payments received
NHS receiving
Grants – CJRS
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, 2022**
**Funds at 31 March, 2023**|Unrestricted
Funds
**£**
-
-
-
799
799
-
300
-
300
498
3,240
3,738|Restricted
Funds
**£**
291
298,190
300,034
256,646
-
-
855,161
761,607
35,388
720
797,715
57,446
570,512
627,958|**2023**
Total
**£**
291
298,190
300,034
256,646
-
799
855,960
761,607
35,688
720
798,015
57,944
573,752
631,696|**2022**
Total
**£**
291
260,268
310,393
-
31,846
86|
|---|---|---|---|---|
|||||602,884|
|||||500,390
27,129
720|
|||||528,282|
|||||74,602
499,149|
|||||573,752|
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 2023**
|**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**
**NET ASSETS**
**FUNDS**
Unrestricted funds
10
Restricted funds
10
**TOTAL FUNDS**|**2023**
**£**
198,608
-
442,619
442,619
(9,531)
433,088
631,696
3,738
627,958
631,696|**2022**
**£**
125,660|
|---|---|---|
|||-
456,490|
|||456,490|
|||(8,398)|
|||448,092|
|||573,752|
|||3,240
570,512|
|||573,752|
ON BEHALF OF THE TRUSTEES:
…………………………………….. Mrs. S. Ahmed 13 JULY 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 2023**
## **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:
- **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 2023**
|**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**
**£**
569,877
881
58,704
2,452
8,599
10,010
41
5,314
19,807
13,575
6,552
8,865
1,091
16,329
33,554
5,955
761,607
**Restricted**
**Funds**
**£**
17,625
14,676
2,856
231
35,388|**2023**
**£**
569,877
881
58,704
2,452
8,599
10,010
41
5,314
19,807
13,575
6,552
8,865
1,091
16,329
33,554
5,955
761,607
**2023**
**Total**
**£**
17,625
14,676
3,156
231
35,688|**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|
|---|---|---|---|---|
|||||500,388
**2022**
**Total**
**£**
10,848
12,993
3,157
174|
|||||27,172|
|**4. Governance costs**
Independent Examiners’ fee|**2023**
**£**
720|**2022**
**£**
720|
|---|---|---|
Independent Examiners’ fee
11
## **THE OAK FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2023**
|**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|**2023**
**£**
33,554
720
553,479
34,023
587,502|**2022**
**£**
25,933|
|---|---|---|
|||720|
|||347,374
14,233|
|||361,608|
No employee received emoluments of more than £60,000. The average weekly number of staff employed was as follows:
|employed was as follows:|||||
|---|---|---|---|---|
||||**2023**|**2022**|
||||**Number**|**Number**|
|Direct charitable work: Part time|||19|18|
|Casual|||32|30|
||||51|48|
|**7.Tangible fixed assets**|**Leasehold**|
**Fixtures**|||
||**Improve-**|**Fittings &**|**Motor**||
||**ments**|**Equipment**|**Vehicles**|**Total**|
||**£**|**£**|**£**|**£**|
|**Cost**|||||
|At 1 April 2022|133,636|97,043|
66,900|
297,579|
|Additions during the year|75,600
|6,903
|
24,000
|
106,503
|
|At 31 March 2023|209,236|103,946|
90,900|
404,082|
|**Depreciation**|||||
|At 1 April 2022|78,334|72,750|
20,835|
171,919|
|Charge for the year|10,343|7,195|
16,016|
33,554|
|At 31 March 2023|88,677|79,946|36,851|
205,474|
|**Net book value**|||||
|At 31 March 2023|120,559|24,000|
54,049|
198,608|
|At 31 March 2022|55,302|24,293|
46,065|
125,660|
12
## **THE OAK FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2023**
|**8. Debtors**
Due within one year:
Other debtors
Prepayments
**9.Creditors:**amounts falling due
Other creditors
Accruals
**10. Funds**
**Unrestricted**
**Restricted**|within one year:
**Balance at**
**1 April**
**2022**
**£**
3,240
570,512
|**Income/**
**Transfers**
**£**
799
855,161|**2023**
**£**
-
-
-
7,398
2,134
9,532
**Expenditure**
**/Transfers**
**£**
300
797,315|**2022**
**£**
-
-
-
7,425
973
8,398
**Balance at**
**31 March**
**2023**
**£**
3,240|
|---|---|---|---|---|
|||||627,958|
||||||
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**
**£**
-
3,738
3,738|**Restricted**
**Funds**
**£**
198,608
429,350
627,958|**2023**
**Total**
**£**
198,608
433,088
631,696|**2022**
**Total**
**£**
125,660
448,092|
|---|---|---|---|---|
|||||499,147|
13
## **THE OAK FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2023**
## **12. Financial commitments**
The company was committed to make the following payments under the non-cancellable operating leases in the year to 31st March 2023.
|Within 1 year
Within 2 to 5 years|**Land &**
**Buildings**
**2023**
**£**
63,525
254,100
317,625|**Land &**
**Buildings**
**2022**
**£**
-
63,525|
|---|---|---|
|||63,525|
14
## **THE OAK FOUNDATION**
## **DETAILED INCOME AND EXPENDITURE ACCOUNT**
## **FOR THE YEAR ENDED 31 MARCH 2023**
|**INCOME**
**Revenue Grants**
**-**Restricted
LBWF – Social Services
Direct Carers Payments
NHS 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**|**2023**
**£**
298,190
300,034
256,646
291
855,161
799
-
855,960
(798,015)
57,944
573,752
631,696|**2022**
£
260,268
310,393
-
291|
|---|---|---|
|||570,952|
|||86
31,846|
|||602,884
(528,282)|
|||74,602
499,149|
|||573,752|
15
## **THE OAK FOUNDATION**
## **ANALYSIS OF EXPENDITURES**
## **FOR THE YEAR ENDED 31 MARCH 2023**
|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|**2023**
**£**
587,502
73,380
8,865
33,554
6,552
6,788
8,599
5,314
6,788
2,452
1,091
16,329
881
29,818
5,954
720
3,157
272
798,016|**2022**
**£**
361,608
64,963
12,241
25,933
3,752
7,477
10,695
3,215
7,477
1,822
483
5,650
2,838
13,243
2,838
720
3,157
205|
|---|---|---|
|||528,282|
16