REGISTERED COMPANY NUMBER: 04626166 (England and Wales) REGISTERED CHARITY NUMBER: 1097395
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
FOR
OASIS OF HOPE FOUNDATION-UK
OASIS OF HOPE FOUNDATION-UK
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 5 |
| Statement of Trustees' Responsibilities | 6 | ||
| Independent Examiner's Report | 7 | ||
| Statement of Financial Activities | 8 | ||
| Balance Sheet | 9 | ||
| Notes to the Financial Statements | 10 | to | 15 |
OASIS OF HOPE FOUNDATION-UK (REGISTERED NUMBER: 04626166)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
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 31 December 2021. 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
The charity's objects and principal activities are that of providing resources to help the poorest of poor children of Colombia.
Volunteers
The charity is grateful for the team of volunteers who freely give of their time to enable the Charity to function so well. The value of services donated by volunteers is not included in the Statement of Financial Activities.
Public Benefit
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit and complied with section 17(5) of the 2011 Charities Act when reviewing our aims and objectives and in planning our future activities. In particular, the Trustees/Directors consider how planned activities will contribute to the aims and objectives they have set.
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OASIS OF HOPE FOUNDATION-UK (REGISTERED NUMBER: 04626166)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
ACHIEVEMENT AND PERFORMANCE Charitable activities OASIS OF HOPE FOUNDATION IN SANTA MARTA, COLOMBIA.
2021 has continued to see many changes in light of the continued Covid-19 pandemic. Clearly the safety of our students and staff have been a priority in how we responded. We have ensured that our work was delivered in a safe and secure way adopting infection control strategies.
This year we have continued to use Zoom for the students whose parents are nervous about their children returning to normal classes. However, since July the vast majority of students have returned back to class with the transition being deemed as seamless.
A safe and secure Covid-19 protocol was devised and implemented that allowed the safe and secure return of the students.
At present we have 270 students registered at the Oasis of Hope School.
In December 2021, 14 students graduated from the school, with the majority of them going on to university or some other form of further education!
We have now set-up a university scholarship fund that will help students families who can't financially afford the fees - but who's children have the ability to study at university level. It's envisaged that in 2022 seven students will be sponsored for the full 5 years of their Colombian university course. As the fund grows, we are expectant that the number of students we can help will increase.
OASIS OF HOPE FOUNDATION WORK FORCE & FACILITIES
We currently have 14 available classrooms with 3 sets of toilets. The administration block consists of director's office with toilet, secretary's office with toilet, waiting room, teachers rest room and library, plus the IT facility and administration block.
At present we have 24 teachers employed at the Oasis of Hope school, plus school principal, academic coordinator, phycologist, health & safety officer, secretary and cleaner.
The kitchen staff are volunteers who receive a small donation for their loyal contribution to the work.
OASIS - JOB CREATION
The foundation employs an administrator, two administration workers, nurse and 5 security staff. This allows value plus services to be provided to the students and the wider community from which they are drawn, including health checks and interventions to promote good health. Clearly the security staff are required to ensure the building, students and staff are safe when within the school grounds.
OASIS OF HOPE FOUNDATION - SOCCER ACADEMY (OASIS LIONS)
This brand-new initiative was set-up by Rev. David Taylor in August 2021. The aim is to reach out to boys and girls in the local community. Many of these young people simply have nothing to do, with little or no infrastructure being in place in these extremely poor neighbourhoods. The academy invites the students in and teaches them life skills and soccer expertise. At present we have around 40 students, which includes 10 girls. The academy employs a director, secretary and 3 coaching staff.
CHILDREN'S EDUCATION & OUTREACH PROGRAMMES
Oasis of Hope Foundation provide support and outreach programmes across the region of the Atlantic coast of Colombia. The focus of the work is to positively impact those communities that have and are experiencing enduring physical and social deprivation.
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OASIS OF HOPE FOUNDATION-UK (REGISTERED NUMBER: 04626166)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
The partnerships which the charity has developed within the community are both empowering and enabling. Oasis of Hope seeks to free individuals and ultimately communities from the debilitating effects of poverty through access to good quality education and life opportunities. The projects that come under the banner of Oasis of Hope are:
a) CIENAGA SCHOOL
In 2021 the number attending the school was 400.
22 students graduated from high school with many of them going on to university or further education.
b) LA PAZ SCHOOL
In 2021 the number attending the school was 450.
This school is situated in the Guajira, the desert area of Colombia where the school faculty is made up entirely of the Wayuu indigenous population.
c) PUEBLO VIEJO
In 2021 the number attending the Pueblo Viejo project was 160. This outreach provides lunches 3 times a week plus basic educational study. Many improvements at this project have been made in 2021.
d) MAICAO PROJECT & PRESCHOOL
In 2021 the Maicao project had 150 children attending - with meals provided from Monday to Friday during the preschool educational timetable.
The students arrive at 7am Monday to Friday and have a comprehensive programme until 3pm. The activities include, school lessons, hygiene, brushing teeth, washing hands etc.
The Oasis foundation partner with the local community church in providing meals for the Wayuu indigenous groups who live nearby.
FINANCE DEPARTMENT
The finance department continues to ensure that the financial recording is sound, and the services are delivered in a cost-effective way.
SPONSORSHIP DEPARTMENT
The sponsorship department continues to provide a vital link to the office in the UK. Here vital data is gathered and sent to the UK who then process it.
MEDICAL DEPARTMENT
Glemis Fernandez is our full-time nurse. Free medicines are administered where needed and doctors attend the clinic on a regular basis to hold medical campaigns
FINANCIAL REVIEW
Reserves policy
The Trustees/Directors have resolved to establish reserves at a level sufficient to ensure the charity can cover its operating costs for a minimum of three months in line with the guidance issued by the Charity Commission. The Trustees/Directors closely monitor income and expenditure to ensure the appropriate measures are taken when necessary.
The Trustees/Directors consider the financial performance of the charity during the year has been satisfactory. The Statement of Financial Activities shows net incoming/outgoing resources for the year of a revenue nature of deficit £6,418 (2020 - deficit £4,292) The total reserves at the year end stand at £55,997.(2020- £62,415).
Finance sent to Colombia from Oasis of Hope Foundation-Uk for the year 2021 was £71,267.86.
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OASIS OF HOPE FOUNDATION-UK (REGISTERED NUMBER: 04626166)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
FUTURE PLANS
Future Plans In the coming year Oasis of Hope Foundation intend to continue to:
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deliver its life changing work in various communities within the Atlantic coast area of Colombia.
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build on the number of students that graduate. Many of these students come from families living in abject poverty. Graduating successfully gives them life changing options in securing further education or work.
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deliver excellent education, developing best practice and ensuring students and staff remain safe in the context of covid-19. Oasis of Hope will continue to help students attain their full potential, through this it will not only release them from the shackles of poverty but will have an added benefit of slowly changing the communities in which they come from.
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positively impact the local communities in which the projects work, providing support and practical help which will alleviate poverty not just in the short term but give communities independence in the future.
In addition, Oasis of Hope is seeking to secure additional funding to enable us to provide:
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£9,500 has now been donated to purchase a piece of land for the Isla Project. This will enable a church building to be established in a poverty-stricken area allowing community support to fulfil spiritual, social and physical needs of the community.
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To secure funding to provide IT equipment for the Oasis of Hope School in Santa Marta. This will allow students to further develop key skills that will enable them to keep pace with a changing world and further their education.
Oasis School of Hope are still seeking the funds to employ a 'site manager' who would look after all the installations, making sure they are in good working order. We believe this will be cost effective going forward as it will allow issues arising on the site to be addressed quickly thereby eliminating costs which will arise from lack of timely intervention.
Covid-19 is not a challenge that will disappear overnight. However, the projects which come under the banner of Oasis of Hope Foundation will continue to provide life changing benefits in a safe and secure way.
Clearly funding is more under threat during this time, but Oasis of Hope is proactively seeking to secure grant funding as well as continuing to secure the individual gifts it relies on. This funding will allow it to continue to deliver its core services as well as to provide aspirational goals. The need continues and indeed deepens in the current context of Covid-19 we see ourselves as pivotal to continuing to be the solution within the communities in which we work.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is constituted as a company limited by guarantee, and is therefore governed by a Memorandum and Articles of Association.
Recruitment and appointment of new trustees
The Board of Directors/Trustees is committed to selecting and recruiting trustees with appropriate skills and abilities to reflect and meet the needs of the charity. Prospective persons are approached by the trustees/directors to join the board.
Organisational structure
The board of trustees aims to meet 3 times a year.
Wider network
The charity works closely with other charities and organisations interested in its aims and objectives.
Risk management
The trustees have identified and reviewed the risks to which the charity is exposed and have ensured appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
04626166 (England and Wales)
Registered Charity number
1097395
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OASIS OF HOPE FOUNDATION-UK (REGISTERED NUMBER: 04626166)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
Registered office Revive Church Ground Floor, Kingswood House Ashcombe Road KINGSTON UPON HULL HU7 3DD Trustees Rev. D Cooper Mr. N. Lendon Mr. P. T. Gallant Mr. R. Dixon Rev D. Taylor Mr R Saggs Mrs T Wild Mrs H Button
Independent Examiner Miss C. M. Tams ACA Smethurst & Co LLP 12 Abbey Road GRIMSBY DN32 0HL
Bankers Royal Bank of Scotland 10 Silver Street HULL HU1 1JE
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Mr. P. T. Gallant - Trustee
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OASIS OF HOPE FOUNDATION-UK
STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2021
The trustees (who are also the directors of Oasis Of Hope Foundation-UK for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF OASIS OF HOPE FOUNDATION-UK (REGISTERED NUMBER: 04626166)
Independent examiner's report to the trustees of Oasis Of Hope Foundation-UK ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2021.
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:
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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
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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
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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.
Miss C. M. Tams ACA Smethurst & Co LLP 12 Abbey Road GRIMSBY DN32 0HL
Date: .............................................
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OASIS OF HOPE FOUNDATION-UK
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 19,850 Investment income 2 4 Total 19,854 EXPENDITURE ON Raising funds 23,158 Charitable activities Core 17,631 Total 40,789 NET INCOME/(EXPENDITURE) (20,935) Transfers between funds 12 16,281 Net movement in funds (4,654) RECONCILIATION OF FUNDS Total funds brought forward 35,370 TOTAL FUNDS CARRIED FORWARD 30,716 |
Restricted fund £ 69,483 - 69,483 - 54,966 54,966 14,517 (16,281) (1,764) 27,045 25,281 |
31.12.21 31.12.20 Total Total funds funds £ £ 89,333 103,772 4 38 89,337 103,810 23,158 22,449 72,597 85,653 95,755 108,102 (6,418) (4,292) - - (6,418) (4,292) 62,415 66,707 55,997 62,415 |
|---|---|---|
The notes form part of these financial statements
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OASIS OF HOPE FOUNDATION-UK (REGISTERED NUMBER: 04626166)
BALANCE SHEET 31 DECEMBER 2021
| 31.12.21 | 31.12.20 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | fund | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible assets | 9 | - | - | - | 118 |
| CURRENT ASSETS | |||||
| Debtors | 10 | 721 | 2,180 | 2,901 | 2,588 |
| Cash at bank and in hand | 30,517 | 23,101 | 53,618 | 60,240 | |
| 31,238 | 25,281 | 56,519 | 62,828 | ||
| CREDITORS | |||||
| Amounts falling due within one year | 11 | (522) | - | (522) | (531) |
| NET CURRENT ASSETS | 30,716 | 25,281 | 55,997 | 62,297 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 30,716 | 25,281 | 55,997 | 62,415 | |
| NET ASSETS | 30,716 | 25,281 | 55,997 | 62,415 | |
| FUNDS | 12 | ||||
| Unrestricted funds | 30,716 | 35,370 | |||
| Restricted funds | 25,281 | 27,045 | |||
| TOTAL FUNDS | 55,997 | 62,415 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(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.
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 ............................................. and were signed on its behalf by:
.............................................
Mr. P. T. Gallant - Trustee
The notes form part of these financial statements
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OASIS OF HOPE FOUNDATION-UK
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
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 updated by bulletin 1) '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 2015)', 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.
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.
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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% Straight Line
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 trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Donated goods
Donated services by volunteers are not recognised in the Statement of Financial Activities.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31.12.21 | 31.12.20 | |
| £ | £ | |
| Interest received | 4 | 38 |
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OASIS OF HOPE FOUNDATION-UK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
3. GRANTS PAYABLE
Core The total grants paid to institutions during the year was as follows: Colombia
| 31.12.21 | 31.12.20 |
|---|---|
| £ | £ |
| 71,268 | 84,302 |
| 31.12.21 | 31.12.20 |
| £ | £ |
| 71,268 | 84,302 |
4. SUPPORT COSTS
| Core Support costs, included in the above, are as follows: Depreciation of tangible fixed assets Independent examiners fee Insurance NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Independent examiners fee Depreciation - owned assets |
Governance Other costs Totals £ £ £ 118 1,211 1,329 31.12.21 31.12.20 Total Core activities £ £ 118 156 450 450 761 745 1,329 1,351 31.12.21 31.12.20 £ £ 450 450 118 156 |
|---|---|
5. NET INCOME/(EXPENDITURE)
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
7. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 31.12.21 | 31.12.20 | |
|---|---|---|
| Staff | 1 | 1 |
No employees received emoluments in excess of £60,000.
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OASIS OF HOPE FOUNDATION-UK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
| 8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 15,510 Investment income 38 Total 15,548 EXPENDITURE ON Raising funds 22,449 Charitable activities Core 13,995 Total 36,444 NET INCOME/(EXPENDITURE) (20,896) Transfers between funds 16,068 Net movement in funds (4,828) RECONCILIATION OF FUNDS Total funds brought forward 40,198 TOTAL FUNDS CARRIED FORWARD 35,370 9. TANGIBLE FIXED ASSETS COST At 1 January 2021 and 31 December 2021 DEPRECIATION At 1 January 2021 Charge for year At 31 December 2021 NET BOOK VALUE At 31 December 2021 At 31 December 2020 |
Restricted fund £ 88,262 - 88,262 - 71,658 71,658 16,604 (16,068) 536 26,509 27,045 |
Total funds £ 103,772 38 103,810 22,449 85,653 108,102 (4,292) - (4,292) 66,707 62,415 Fixtures and fittings £ 1,271 1,153 118 1,271 - 118 |
|---|---|---|
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OASIS OF HOPE FOUNDATION-UK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 31.12.21 | 31.12.20 | |||||
|---|---|---|---|---|---|---|
| £ | £ | |||||
| Tax | 2,901 | 2,588 | ||||
| 11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||||
| 31.12.21 | 31.12.20 | |||||
| £ | £ | |||||
| Other creditors | 522 | 531 | ||||
| 12. | MOVEMENT IN FUNDS | |||||
| Net | Transfers | |||||
| movement | between | At | ||||
| At 1.1.21 | in funds | funds | 31.12.21 | |||
| £ | £ | £ | £ | |||
| Unrestricted funds | ||||||
| General fund | 35,370 | (20,935) | 16,281 | 30,716 | ||
| Restricted funds | ||||||
| Projects in Colombia | 27,045 | 14,517 | (16,281) | 25,281 | ||
| TOTAL FUNDS | 62,415 | (6,418) | - | 55,997 | ||
| Net movement in funds, included in the above are as follows: | ||||||
| Incoming | Resources | Movement | ||||
| resources | expended | in funds | ||||
| £ | £ | £ | ||||
| Unrestricted funds | ||||||
| General fund | 19,854 | (40,789) | (20,935) | |||
| Restricted funds | ||||||
| Projects in Colombia | 69,483 | (54,966) | 14,517 | |||
| TOTAL FUNDS | 89,337 | (95,755) | (6,418) | |||
| Comparatives for movement in funds | ||||||
| Net | Transfers | |||||
| movement | between | At | ||||
| At 1.1.20 | in funds | funds | 31.12.20 | |||
| £ | £ | £ | £ | |||
| Unrestricted funds | ||||||
| General fund | 40,198 | (20,896) | 16,068 | 35,370 | ||
| Restricted funds | ||||||
| Projects in Colombia | 26,509 | 16,604 | (16,068) | 27,045 | ||
| TOTAL FUNDS | 66,707 | (4,292) | - | 62,415 |
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OASIS OF HOPE FOUNDATION-UK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
12. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Projects in Colombia TOTAL FUNDS |
Incoming resources £ 15,548 88,262 103,810 |
Resources Movement expended in funds £ £ (36,444) (20,896) (71,658) 16,604 (108,102) (4,292) |
Resources Movement expended in funds £ £ (36,444) (20,896) (71,658) 16,604 (108,102) (4,292) |
|---|---|---|---|
| (4,292) |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | Transfers | |||
|---|---|---|---|---|
| movement | between | At | ||
| At 1.1.20 | in funds | funds | 31.12.21 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 40,198 | (41,831) | 32,349 | 30,716 |
| Restricted funds | ||||
| Projects in Colombia | 26,509 | 31,121 | (32,349) | 25,281 |
| TOTAL FUNDS | 66,707 | (10,710) | - | 55,997 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 35,402 | (77,233) | (41,831) |
| Restricted funds | |||
| Projects in Colombia | 157,745 | (126,624) | 31,121 |
| TOTAL FUNDS | 193,147 | (203,857) | (10,710) |
Restricted funds consist of gifts and donations given for the purpose of projects in Colombia.
Transfers between funds
Transfers are made from unrestricted funds to meet commitments of the charity in relation to its objects.
20% of restricted donations are transferred to the general funds to cover admin costs.
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OASIS OF HOPE FOUNDATION-UK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
13. RELATED PARTY DISCLOSURES
Total donations from Trustees during the year amounted to £4,504 (2020- £2,347).
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