**REGISTERED COMPANY NUMBER: 04446103 (England and Wales) REGISTERED CHARITY NUMBER: 1093779**
## **Report of the Trustees and**
**Unaudited Financial Statements for the Year Ended 31st December 2020**
## **for**
## **Oaks Community Church**
Ashbys Chartered Accountants Morton House 9 Beacon Court Pitstone Green Business Park Pitstone LU7 9GY
**Oaks Community Church**
**Contents of the Financial Statements for the year ended 31st December 2020**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|4|
|**Independent Examiner's Report**||5||
|**Statement of Financial Activities**||6||
|**Balance Sheet**|7|to|8|
|**Notes to the Financial Statements**|9|to|16|
**Oaks Community Church (Registered number: 04446103)**
## **Report of the Trustees for the year ended 31st December 2020**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st December 2020. The trustees have adopted the provisions of 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).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
Oaks Community Church was created to continue the work of Oaks Community Church Trust to:
- provide a church in the Aylesbury area and meet some of the needs of the local community
- to promote and advance the Christian religion by the provision of facilities calculated directly to promote the more
- effective working of all Christian churches, and
- to fulfil our purpose statement and our mission statement
## Purpose Statement
"To know Jesus and make Jesus known"
## Mission Statement
"Love God Love Each Other Love the Lost"
## Vision Statement
"We aim to establish and outward looking church where God can be God and we can truly be ourselves"
## **Significant activities**
Although the church has still been active we were for most of 2020 functioning in a different way from previous years because of Covid 19. In 2019 and in previous years and for the first 2 to 3 months of 2020 we met at Aylesbury Grammar School for Sunday worship but from the middle of March 2020 onwards we were not able to meet physically for worship services but we continued to meet "virtually" and had services on Sunday mornings and Wednesday mornings on Facebook Live and on zoom and we also had midweek Bible Study meetings on zoom as well as a Saturday morning prayer meeting on zoom and also meetings for children and young people continued on Zoom and we also had a regular quiz on Zoom on a Friday evening once a fortnight.
We also lease a shop in Elm Farm Road Aylesbury which is seen as a doorway into the local community and before the Covid 19 lockdown in March 2020 there were activities in the shop including coffee mornings and bridge group and weight loss group. Apart from a period in the summer of 2020 when we were able to open the shop as a coffee shop for a limited period the shop has been used mainly as the office for the church and the shop is also the base for a food bank which supports people in need in the local community.
While planning activities for the year the members of the Council have considered the Charity Commission guidance on public benefit and in particular the specific guidance on charities for the advancement of religion.
Page 1
**Oaks Community Church (Registered number: 04446103)**
## **Report of the Trustees for the year ended 31st December 2020**
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
We continue to be committed to being a community church: a church that is involved in the community and committed to the community although we have not been able to do as much as in previous years due to covid 19 apart from the food bank which continued to be operated from the shop.
We also support charitable work overseas including supporting a couple who are connected to the church who have recently gone to Africa as missionaries.
We have as stated been continuing with Sunday and midweek services and groups for children and young people and Bible Study and prayer groups but these were mostly online during 2020.
We remain committed to church unity and are members of the Aylesbury Church Network (ACN) which is a group of churches who seek to work together in Aylesbury although due to Covid 19 there were not any joint services or other activities in 2020
We hope this report will provide an insight into our work and we would like to thank all those who have supported us in the past year both in prayer and financially.
## **FINANCIAL REVIEW**
## **Reserves policy**
The Trustees have established a policy whereby the unrestricted funds not designated or invested in tangible fixed assets (ie "free reserves") held by the charitable company should be equivalent to three months running costs. At the year ended 31 December 2020 the free reserves excluding the legacy receivable were above the target level.
The total income of the Church for the year was £153,385. This was made up of donations from the congregation, income from the Church's shop and legacy income. Total expenditure of the Church for the year was £86,724, resulting in a surplus of £66,661 for the year. The surplus includes legacy income of £62,724 which has yet to be received by the Church.
## **FUTURE PLANS**
The charity's aims and objectives for the coming year are:
- Continuing to grow as a church both numerically and spiritually
- To continue online ministries until it is safe to resume meeting face to face
- To use the shop as more of a community resource and so maximise public benefit of the charity
- To seek to reduce expenditure and increase income and reserves where possible so that we have adequate financial resources to pursue our aims and objectives.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
Oaks Community Church is controlled by a governing document, the Memorandum and Articles of Association of the limited company, and constitutes a limited company limited by guarantee as defined by the Companies Act 2006.
## **Recruitment, appointment and training of new members of Council**
In accordance with the Articles of Association the Council is authorised to appoint new members of Council. One third of the Council retire by rotation at the Annual General Meeting but may seek re-election.
Members of the Council are encouraged to continually review their role within the Council and in this context new members are appointed following consultation with and the approval of the Church Leadership Team.
On appointment to the Council new members are provided with such training as is required to enable them to carry out their role in an effective manner.
Page 2
**Oaks Community Church (Registered number: 04446103)**
## **Report of the Trustees for the year ended 31st December 2020**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure**
The Trustees usually meet by themselves two or three times a year. There is also a church Leadership Team and the Trustees have meetings jointly with the Leadership Team three to four times a year. We also have wider meetings called Department Heads Meetings four times a year which include the leaders of the various groups within the church. The Trustees also report to that meeting.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
04446103 (England and Wales)
## **Registered Charity number**
1093779
## **Registered office**
6 Bourbon Street Aylesbury Buckinghamshire HP20 2RR
## **Trustees**
K P Scott R G Buckland
## **Company Secretary**
K P Scott
## **Independent Examiner**
Ashbys Chartered Accountants Morton House 9 Beacon Court Pitstone Green Business Park Pitstone LU7 9GY
## **Bankers**
National Westminster Bank 22 Market Square Aylesbury Buckinghamshire HP20 1TR
## **Church Leader**
G Arnold
## **Church Leadership Team**
G Arnold K Springett
## **Affiliations**
Member of the Evangelical Alliance and part of the New Wine Network
## **THANK YOU**
We hope this report will provide an insight into our work and we would like to thank all those who have supported us in the past year both in prayer and financially.
Page 3
**Oaks Community Church (Registered number: 04446103)**
## **Report of the Trustees for the year ended 31st December 2020**
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 26th September 2021 and signed on its behalf by:
K P Scott - Trustee
Page 4
**Independent Examiner's Report to the Trustees of Oaks Community Church (Registered number: 04446103)**
## **Independent examiner's report to the trustees of Oaks Community Church ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st December 2020.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Jill Andrews FCA Ashbys Chartered Accountants Morton House 9 Beacon Court Pitstone Green Business Park Pitstone LU7 9GY
28th September 2021
Page 5
**Oaks Community Church**
## **Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the year ended 31st December 2020**
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
146,879
**Charitable activities**
Church costs
3,835
Shop
880
Investment income
2
1,791
**Total**
153,385
**EXPENDITURE ON**
**Charitable activities**
Church costs
69,556
Shop
16,134
**Total**
85,690
**NET INCOME/(EXPENDITURE)**
67,695
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
54,744
**TOTAL FUNDS CARRIED FORWARD**
122,439|Restricted
funds
£
-
-
-
-
-
1,034
-
1,034
(1,034)
72,636
71,602|2020
Total
funds
£
146,879
3,835
880
1,791
153,385
70,590
16,134
86,724
66,661
127,380
194,041|2019
Total
funds
£
90,154
-
3,225
1,891
95,270
81,498
17,676
99,174
(3,904)
131,284
127,380|
|---|---|---|---|
The notes form part of these financial statements
Page 6
**Oaks Community Church (Registered number: 04446103)**
## **Balance Sheet 31st December 2020**
|Unrestricted
funds
Notes
£
**FIXED ASSETS**
Tangible assets
7
4,954
Investments
8
35,000
39,954
**CURRENT ASSETS**
Stocks
9
979
Debtors
10
69,458
Cash at bank and in hand
14,046
84,483
**CREDITORS**
Amounts falling due within one year
11
(1,998)
**NET CURRENT ASSETS**
82,485
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
122,439
**NET ASSETS**
122,439
**FUNDS**
13
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
funds
£
-
-
-
-
-
71,602
71,602
-
71,602
71,602
71,602|2020
Total
funds
£
4,954
35,000
39,954
979
69,458
85,648
156,085
(1,998)
154,087
194,041
194,041
122,439
71,602
194,041|2019
Total
funds
£
5,770
35,000
40,770
1,061
6,693
80,767
88,521
(1,911)
86,610
127,380
127,380
54,744
72,636
127,380|
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2020 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 7
**Oaks Community Church (Registered number: 04446103)**
## **Balance Sheet - continued 31st December 2020**
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 26th September 2021 and were signed on its behalf by:
K P Scott - Trustee
The notes form part of these financial statements
Page 8
**Oaks Community Church**
**Notes to the Financial Statements for the year ended 31st December 2020**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## Donations
Cash donations are brought into the financial statements upon receipt. Gift aid tax which is reclaimable on these donations is recognised on receipt of the donation.
## Government Grants
Government grants are accounted for under the accruals model. Coronavirus support revenue grants are recognised in the profit and loss account as other operating income in the same period as the related costs for which the grant is intended to compensate. Coronavirus support grants which are receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support with no future related costs, are recognised in other operating income in the period all eligibility criteria are met.
## Legacies
Incoming legacies are included gross in the Statement of Financial Activities when the charity is entitled to the income at the date of probate provided sufficient information has been received to value the charity's entitlement. Pecuniary legacies are recognised as receivable once probate has been granted and notification has been received. Residuary legacies are recognised as receivable once probate has been granted and they can be valued with reasonable certainty.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 15% on reducing balance Fixtures and fittings - 15% on reducing balance
The cost of minor additions or those below £250 are not capitalised.
continued...
Page 9
**Oaks Community Church**
**Notes to the Financial Statements - continued for the year ended 31st December 2020**
## **1. ACCOUNTING POLICIES - continued**
## **Stocks**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Council members.
Restricted funds can only be used for particular restricted purposes within the objects of the charitable company. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
The Council makes transfers between funds when expenditure of a restricted nature is to be met from more than one type of fund. the maximum level of these transfers is agreed by the Council prior to the expenditure.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Hire purchase and leasing commitments**
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **2. INVESTMENT INCOME**
|**INVESTMENT INCOME**|||
|---|---|---|
||2020|2019|
||£|£|
|Curr asset inv income|1,791|1,891|
## **3.**
## **NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||2020|2019|
|---|---|---|
||£|£|
|Depreciation - owned assets|878|1,023|
|Other operating leases|12,829|23,152|
|Deficit on disposal of fixed assets|136|617|
|Independent examiners fees|1,809|1,890|
continued...
Page 10
**Oaks Community Church**
**Notes to the Financial Statements - continued for the year ended 31st December 2020**
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31st December 2020 nor for the year ended 31st December 2019.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31st December 2020 nor for the year ended 31st December 2019.
## **5. STAFF COSTS**
|Wages and salaries
Social security costs
Other pension costs|2020
£
51,080
982
1,401
53,463|2019
£
49,932
839
1,258|
|---|---|---|
|||52,029|
The company has benefitted from government backed initiatives to support businesses during the pandemic in the form of the Coronavirus Job Retention Scheme.
The average monthly number of employees during the year was as follows:
|Church leader
Church assistant and children's worker
Youth worker|2020
1
1
1
3|2019
1
1
1|
|---|---|---|
|||3|
No employees received emoluments in excess of £60,000.
## **6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
90,154
**Charitable activities**
Shop
3,225
Investment income
1,891
**Total**
95,270
**EXPENDITURE ON**
**Charitable activities**
Church costs
81,498
Shop
17,676|Restricted
funds
£
-
-
-
-
-
-|Total
funds
£
90,154
3,225
1,891|
|---|---|---|
|||95,270
81,498
17,676|
continued...
Page 11
**Oaks Community Church**
**Notes to the Financial Statements - continued for the year ended 31st December 2020**
## **6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
|Unrestricted
funds
£
**Total**
99,174
**NET INCOME/(EXPENDITURE)**
(3,904)
**Transfers between funds**
626
**Net movement in funds**
(3,278)
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
58,022
**TOTAL FUNDS CARRIED FORWARD**
54,744
**7.**
**TANGIBLE FIXED ASSETS**
Equipment
£
**COST**
At 1st January 2020
18,429
Additions
198
Disposals
(435)
At 31st December 2020
18,192
**DEPRECIATION**
At 1st January 2020
13,814
Charge for year
704
Eliminated on disposal
(299)
At 31st December 2020
14,219
**NET BOOK VALUE**
At 31st December 2020
3,973
At 31st December 2019
4,615|Restricted
funds
£
-
-
(626)
(626)
73,262
72,636
Fixtures
and
fittings
£
5,332
-
-
5,332
4,177
174
-
4,351
981
1,155|Total
funds
£
99,174
(3,904)
-
(3,904)
131,284
127,380
Totals
£
23,761
198
(435)
23,524
17,991
878
(299)
18,570
4,954
5,770|
|---|---|---|
continued...
Page 12
**Oaks Community Church**
**Notes to the Financial Statements - continued for the year ended 31st December 2020**
|**8.**
**FIXED ASSET INVESTMENTS**
Other
There were no investment assets outside the UK.
Investments (neither listed nor unlisted) were as follows:
Green Pastures Loan Stock
**9.**
**STOCKS**
Stocks
**10.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
Prepayments and accrued income
Other debtors include legacies due to be received amounting to £62,724 (2019: £nil).
**11.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Accruals and deferred income|2020
£
35,000
2020
£
35,000
2020
£
979
2020
£
62,888
6,570
69,458
2020
£
148
1,850
1,998|2019
£
35,000|2019
£
35,000|
|---|---|---|---|
|||2019
£
35,000||
||||2019
£
1,061|
||||2019
£
-
6,693|
||||6,693|
||||2019
£
21
1,890|
||||1,911|
continued...
Page 13
**Oaks Community Church**
**Notes to the Financial Statements - continued for the year ended 31st December 2020**
## **12. LEASING AGREEMENTS**
Minimum lease payments under non-cancellable operating leases fall due as follows:
|Within one year
Between one and five years|2020
£
11,000
17,250
28,250|2019
£
10,500
33,500|
|---|---|---|
|||44,000|
## **13. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
**Restricted funds**
Building fund
PA equipment
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
PA equipment
**TOTAL FUNDS**|At 1/1/20
£
54,744
70,646
1,990
72,636
127,380
Incoming
resources
£
153,385
-
153,385|Net
movement
At
in funds
31/12/20
£
£
67,695
122,439
-
70,646
(1,034)
956
(1,034)
71,602
66,661
194,041
Resources
Movement
expended
in funds
£
£
(85,690)
67,695
(1,034)
(1,034)
(86,724)
66,661|At
31/12/20
£
122,439
70,646
956|
|---|---|---|---|
||||71,602|
||||194,041|
||||66,661|
continued...
Page 14
**Oaks Community Church**
**Notes to the Financial Statements - continued for the year ended 31st December 2020**
## **13. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
**Restricted funds**
Building fund
PA equipment
**TOTAL FUNDS**|At 1/1/19
£
58,022
70,646
2,616
73,262
131,284|Net
movement
in funds
£
(3,904)
-
-
-
(3,904)|Transfers
between
funds
£
626
-
(626)
(626)
-|At
31/12/19
£
54,744
70,646
1,990|
|---|---|---|---|---|
|||||72,636|
|||||127,380|
Comparative net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|95,270|(99,174)|(3,904)|
|**TOTAL FUNDS**|95,270|(99,174)|(3,904)|
## **Restricted reserves**
The Building Fund consists of donations towards the purchase of a new building.
The People in Need Fund consists of donations towards providing financial assistance to people in times of crisis.
The Indian Orphanage Fund consists of donations for the Oaks Orphanage in India.
The PA Equipment Fund consist of donations towards a new PA system.
Page 15
continued...
**Oaks Community Church**
**Notes to the Financial Statements - continued for the year ended 31st December 2020**
## **14. OTHER FINANCIAL COMMITMENTS**
The internal policy of the Oaks Community Church is to distribute at least 10% of the previous years general donations. In 2021 the church plans to distribute £7,238.
## **15. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31st December 2020.
## **16. COMPANY LIMITED BY GUARANTEE**
The liability of each member is limited to £1. At 31 December 2020 there were 2 members (2019 - 2).
Page 16