Company number: 05300083 (England and Wales) Charity number: 1107554 

Oasis Aquila Housing Ltd (A company limited by guarantee) 

Directors Report and Financial Statements For the year ended 31 August 2023 



Oasis Aquila Housing Ltd 

(Trading as Oasis Community Housing - A company limited by guarantee) 

Contents 

||Page|
|---|---|
|Report ofthe Trustees|2-10|
|Independent auditors’ report|11-13|
|Statement of financial activities|14|
|Balance sheet|15|
|Notestothefinancialstatements|16-28|



1 



Oasis Aquila Housing Ltd 

## (Trading as Oasis Community Housing - A company limited by guarantee) 

## Report of the Trustees 

## For the year ended 31 August 2023 

## INTRODUCTION 

The 2022-23 Financial Year has seen the breadth and depth of our work expand to respond to the steady growth of homelessness. This is in spite of the economic headwinds of the ongoing Cost of Living crisis, and an environment in which income generation has never been more challenging. 

Within this context the numbers of people that we are supporting have risen, and the diversity and complexity of those we support has increased. This diversity has been driven largely by the growing number of refugees coming into our services; whilst the complex challenges facing those we support arise out of a combination of both the increasing absence of public sector services, and our growing understanding of the impact of trauma on homelessness. 

Correspondingly, our income and expenditure has grown in the financial year, our income by £245k and our expenditure by £227k. However, it is the growth of our work on the ground that best illustrates the current direction and core purpose of our mission. Some of the standout statistics of the last year include: 

- e Atleast 29,322 actions of all kinds taken by our staff team to support those we serve across our work over the course of the year 

- e More than 1,300 individuals supported through our services — a 6% rise in the cumulative number of individuals we have been supporting since the previous year 

- e 962 individuals engaging with one of our Crisis Services; a 5% rise on the previous year 

- e 388 times we directly prevented or alleviated homelessness 

- e 88% of women supported by our Empower domestic abuse team said they felt safer as a result. The total number of women supported has risen to 134, 8% higher than last year. 

- e A sslight increase in the number of individuals or families housed in our Home 24/7 supported accommodation to 224 

In addition we have continued to branch out into new areas of work as opportunities have arisen. The most significant new development for OCH during FY 22-23 has been our supported accommodation project for Ukrainian refugees in Peterborough. Although our refugee support work has been growing organically for a number of years, especially in London, ‘Queen Street’ as we call it is our first purpose-designed project to house and support refugees. In doing so, we have also embarked upon a new corporate partnership model with Leeds Building Society in which their assets and our expertise are combined. 

## ADVOCACY — A NEW BRANCH OF OUR WORK 

After several years in which we aspired to turn our organisational experience into a research-led, homelessness advocacy campaign, we have been able to launch our Tackling Trauma, Ending Homelessness campaign in 22-23. 

This campaign is based on research that we commissioned from Northumbria University and which shows, amongst other startling statistics, that 94% of people facing homelessness have also experienced trauma in their lives. Furthermore, the research demonstrates that homelessness itself is a trauma, with 28% of respondents reporting trauma as a result of the process of becoming homeless (e.g. domestic abuse), and 38% reported traumatic experiences as a result of being homeless (e.g. never feeling physically or psychologically safe). Indeed, 65% of people directly link trauma and its impact to their current housing situation suggesting trauma is often a trigger for homelessness. 

We were able to launch the Tackling Trauma, Ending Homelessness report in the Houses of Parliament in November 2022, with the Shadow Homelessness Minister as our keynote speaker, and with a wide range of Parliamentarians and homelessness sector guests and contributors. 

Over the course of 2022-23, the campaign has continued to grow, with numerous opportunities to share our findings within academic symposia, the media, Local Authorities and directly with political leaders. The report is calling for: 

2 



## Oasis Aquila Housing Ltd 

## (Trading as Oasis Community Housing - A company limited by guarantee) 

Report of the Trustees 

For the year ended 31 August 2023 

- e The establishment of minimum standards for the delivery of trauma-informed homelessness support services. 

- e TheLocaldevelopmentAuthorities andandprovidersroll out ofofa commissioned national trauma-informedhomelessnesstrainingservices.programme in England, mandated for e The requirement for Local Authorities to only commission services supporting people experiencing homelessness that are trauma-informed, psychologically-informed and person-centred. 

- e The development of dedicated mental health pathways for people experiencing homelessness that acknowledge and reflect the challenges posed by the chaos of homelessness and the impact of trauma. 

The next milestone for the campaign will be an event at the Labour Party conference in October 2023 with a panel including the former and current Shadow Homelessness Ministers. Our focus will remain on pushing for our recommendations to be enshrined in the policies of the next government. 

## OUR CONTEXT, OUR ACTIVITIES AND OUR ETHOS 

Oasis Community Housing (OCH) is a charity with nearly 40 years of experience of providing a Christian response to homelessness and disadvantage. Our expertise and emphasis is on providing bespoke housing and support to those facing crisis and particularly homelessness. 

This continues to find its expression in four broad activities, which cover all of our work: Home (Supported Accommodation), Basis (Crisis Services), Aspire (Employability Programmes) and Empower (Domestic Abuse Support). Each of these broad activities is outlined in greater detail below. 

We do this work because we believe all people are made in the image of God, have inherent worth and are created to be loved. We believe the image of God is expressed most fully together in community. 

Our vision is: For everyone to be part of a community where they are included, belong and have what they need to reach their God-given potential. 

Our mission is: To transform communities by creating access to housing, addressing homelessness and journeying with people as they fulfil their God-given potential. 

- OCH is a subsidiary of the Oasis Charitable Trust (OCT) which brings together the following organisations to create integrated, empowered and inclusive communities so that all people experience wholeness and fullness of life. The other subsidiaries of OCT are: . Oasis Community Learning - a Multi-Academy Trust running 53 primary and secondary schools across England 

- . Oasis Community Partnerships - a Community-based charity doing grassroots community development, including youth work and other locally-owned projects in 36 hubs across England 

- ° Oasis Restore — will be a secure school enabling young people to live their best lives, through education well-being & hope. It will care for children aged 12-18 who are on remand and sentenced to custody by the courts. 

OCH and these other subsidiaries of OCT share the common goal of becoming the leading community transformation movement and voice in the UK by 2024. We do this through a range of activity on the ground in some of the most disadvantaged communities in England. 

In order to contribute to this over-arching goal, the aim of OCH is to become the leading Christian, national homelessness charity in the UK. We do this because we believe that we can make a substantial contribution to solving this national crisis. 

## Oasis Community Housing's Activity 

Oasis Community Housing has a strong track record in supporting vulnerable people to become thriving, contributing members of the local community. Our core activity since inception has been in the field of supported housing, which we call Home. Through this work, we have developed specialist services to support homeless young people, homeless young mums and their children, and increasingly anyone who finds themselves homeless. Our aim is to provide quality accommodation and holistic support, while promoting independence at all times. 

3 



Oasis Aquila Housing Ltd 

(Trading as Oasis Community Housing - A company limited by guarantee) 

## Report of the Trustees 

## For the year ended 31 August 2023 

We also operate drop-in centres for individuals facing a homelessness crisis and a continuum of accommodation along a spectrum, including Housing First provision, and a range of other activities for those in crisis, which we call Basis. Furthermore, we address the causes of homelessness by working with those affected by Domestic Abuse, which we call Empower and by barriers to employment, which we call Aspire. We undertake all of this activity because in some way these issues contribute to the causes or consequences of homelessness. 

## Oasis Community Housing's Ethos: 

- Our ethos is rooted in the Christian faith and we have five core values, which come from elements of this faith, reflected in the life and work of Jesus. These values are: ° Hope - We have a deep sense of hope that things can change and be transformed, regardless of what the current circumstances may say. We will encourage those we serve to dream big dreams. 

- ° Worth - We believe in the inherent worth and dignity of all people, we will therefore treat everyone equally, respecting differences. 

- ° Inclusion - Everyone has a need to belong. So we are passionate about including everyone. ° Perseverance - We are committed to people and communities for the long term, and will give second, third and fourth chances. 

- ° Life - We will work to enable ‘life in all its fullness' to be a reality for those we work with. Our organisation is comprised of staff and volunteers from all faiths and none, but all our staff understand and sympathise with the Christian ethos and values of Oasis Community Housing and commit to embedding these values in their work. We consider our Christian ethos to be a reason to champion equal opportunities, stemming from our belief that all are made in God’s image, and we are committed to both the transformation of communities and to the inclusion of every person in that process. It is because of our Christian ethos, not in spite of it, that in all that we do Oasis Community Housing will: 

- ° Serve and respect all people regardless of their age, disability, gender, race, ethnic origin, religion or beliefs, pregnancy or maternity status, marital or civil partnership status, sexual orientation, physical and mental capacity. 

- ° Acknowledge the freedom of people of all faiths and none to both hold and to express their beliefs and convictions respectfully and freely, within the limits of the UK law. 

- ° Never impose its Christian faith or belief on others. 

## Oasis Community Housing's Strategy 

Oasis Community Housing believes that by delivering services of a high quality, infused with our ethos and values, we will be successful in supporting people to overcome challenges and fulfil their potential. 

The past year has been the middle year of our 3-year organisational strategy, the objectives of which are: 

1. Our Growth: To have a substantial range of all of our activities in at least four English regions 2. Our Leadership: To be sought out as a valued and respected homelessness charity by key stakeholders in the Church, local authority, housing associations, government departments and the wider sector 

3. Our Ethos: To ensure that our Christ-centred ethos and values remain central to the way that we work, and that we are articulating it in the way that we talk about it to others 

4. Our Sustainability: To be a financially resilient organisation with a sustainable and mixed income stream 5. Our Team: To ensure we have the right people, processes and tools to support these strategic objectives 

Our assessment at the end of the second year is that in all objectives we are making either moderate or good progress across all five objectives. In particular, the organisation has made great strides against Objectives 2 and 5. The delivery of these objectives are helping us to grow our profile and influence, improve and embed our ethos and excellence, and ensure the right people and processes are in place to achieve our goals. We also understand that some of our greatest challenges, in the light of the external socio-economic context, are the headwinds that we face on making our work financially sustainable in the long-term, whilst remaining true to our ethos and values. 

4 



Oasis Aquila Housing Ltd (Trading as Oasis Community Housing - A company limited by guarantee) 

## Report of the Trustees 

For the year ended 31 August 2023 

## RESOURCING AND SUPPORTING OUR WORK 

During 2022-23 our fundraising activity has been delivered by our Business Development Unit (BDU). The team continued to work hard to secure both Unrestricted Income (URI) and Restricted Income (RI). Our overall performance on URI, when set in historical terms, broke new ground as we secured £262,090 (2022: £154,121) that was directly attributed to our fundraising activity in the year. This figure is the single largest URI achievement in a given year that we have ever achieved. Indeed, our overall unrestricted income (excluding rental & contract income) was £301,697 (2022: £183,320). 

However, we must also set these historic achievements against the ambitious growth targets that we were unable to meet in the course of the year — especially our £400k URI target. Meeting this target was largely dependent upon us being able to build our fundraising capacity in the South East in order to tap into potential new income streams and supporters. Unfortunately, we were not able to recruit to these roles and have had to support our efforts in the South East from outside of the region, making it significantly more difficult. 

Nevertheless, many of our fundraising products and initiatives, had landmark years. For instance, our annual Giving a Home Christmas fundraising campaign raised £104k, the largest sum we have ever achieved in a single fundraising appeal. Equally, our major events such as our Black and Gold Ball and our participation in the Great North Run saw strong returns on our investment. 

These results in what is undoubtedly a very difficult fundraising environment for all charities in the UK show that our mission remains compelling to potential supporters and that our investment in fundraising remains the correct approach. 

## Our Fundraising Standards 

We are members of the Chartered Institute of Fundraising and signatories to their Code of Fundraising Practice. Amongst other things, this means that any communications to the public made in the course of carrying out fundraising activity shall be truthful and reflect our ethos and values, that our appeals will state whether funds raised are for general funds or a specific purpose, and that all money raised via fundraising activities will be for the stated purpose of the appeal and will comply with the organisation's stated mission and purpose. 

Where fundraising is carried out on our behalf, it is done so by corporate volunteers or church and community groups. In order to support this process and maintain our standards, we employ staff to work closely with these volunteers and supporters, and they are given relevant guidance where necessary. Furthermore, we have a Fundraising Statement which summarises our standards and approach to fundraising, and which is available for volunteers and other supporters. 

All personal information collected by OCH is confidential, is not for sale or to be given away or disclosed to any third party without consent, and complies fully with GDPR standards. Nobody directly or indirectly employed by or volunteering for OCH accept commissions, bonuses or payments for fundraising activities on behalf of the organisation, and no general solicitations are undertaken by telephone or door-to-door. 

We have had no fundraising complaints in the last financial year, however if someone wants to make a complaint about our fundraising, we will tell them about our complaints procedure and provide it to them in writing upon request. 

5 



Oasis Aquila Housing Ltd 

(Trading as Oasis Community Housing - A company limited by guarantee) 

## Report of the Trustees 

For the year ended 31 August 2023 

## FINANCIAL REVIEW 

In addition to the work of our BDU mentioned above, we have also begun to lean more heavily into securing sustainable income for our work via tendering for new contracts or for existing contracts when they are renewed or extended. During the year we successfully secured the optional 2-year extension of our Southwark youth homelessness contract, as well as honing our organisational skills by bidding both unilaterally or collaboratively for contract opportunities as they arose. In the year ahead we finally expect the re-tendering of the contracts relating to our work in Gateshead and have been doing the groundwork to put OCH in the best position possible to win these contracts. 

We also continue to receive a large proportion of our income from Housing Benefit and rent: £1,765,791 (2022: £1,806, 167). 

Our financial results are shown on page 14. Incoming resources totalled £4,516,090 (2022: £4,270,731) of which £1,350,343 (2022: £1,179,865) related to restricted funding for specific projects. Resources expended totalled £4,622,040 (2022: £4,395,344). 

Overall, we have a surplus in the year of £104,062 after a valuation gain of £210,012 (2022: deficit of £77,563). General unrestricted reserves are showing as £457,442 (2022: £575,442). Net assets carried forward at the yearend are £3,111,668 (2022: £3,007,606). 

This year there was a net surplus on restricted income of £94,341 (2022: deficit £92,685). These fluctuations largely reflect the timing of receipts from some of our funders who either make multi-year grants or within the framework of the UK Financial Year. This means that we record expenditure for some grants in the current year, but income from the grant(s) in previous financial years and vice versa. 

Our unrestricted reserves fell by £118,000 during the year due to the difficult economic climate and hence continue to fall short of what our policy requires however we continue to work towards increasing them. 

## Reserves policy 

The Board has a target for our cash reserves which we believe is adequate for ensuring sufficient cash flow for the charity and to meet all our obligations. 

The Board have set the reserves level to aim for at £700,000, being 3 months budgeted staff costs, non-residential rent, rates and loan repayments. At the end of the year unrestricted reserves were £457,442 being 2 months of these costs. 

The Board recognises that it will take time to reach this target, particularly as the charity grows. However, Trustees will ensure that they review this target and the reserves level every 6 months, managed by the Finance, Audit and Risk Subcommittee and annually by the full Board. 

Whilst we are a considerable way off meeting this cash reserves target, the charity holds a significant level of assets in the form of residential properties. Should the charity require additional finances we are able to take the decision to sell some of our properties in order to provide the funds required and our reserves policy acknowledges this additional form of capital the charity has access to. 

At the end of the financial year, we held designated funds of £2,107,311 (2022: £1,979,590) including a revaluation reserve of £470,733 (2022: £338,016) details of which can be found in Note 17. Details of other designated funds can also be found in this note. 

6 



Oasis Aquila Housing Ltd 

Report of the Trustees 

(Trading as Oasis Community Housing - A company limited by guarantee) 

## For the year ended 31 August 2023 

## REFERENCE AND ADMINISTRATIVE DETAILS 

|Registered|company number:|05300083 (England and Wales)|
|---|---|---|
|Registered|charity number:|1107554|
|Registered|office:|FL 1-4, 7-8 Delta Bank Road, Metro Riverside Park, Gateshead, NE11 9DJ|
|Advisors|||
|Auditors:||Haines Watts North EastAudit LLP, 17 Queens Lane, Newcastle upon Tyne,|
|||NE1 1RN|
|Solicitors:||Ward Hadaway, Sandgate House, 102 Quayside, Newcastle upon Tyne, NE1|
|||3DX|
|Bankers:||Unity Trust Bank plc, Four Brindley place, Birmingham, B1 2JB|
|||Triodos Bank, Deanery Road, Bristol, BS1 54S|
|||Ecology Building Society,<br>7 Belton Way, Silsden, Keighley, BD20 OEE|
|||Nationwide Building Society, Kings Park Road, Moulton Park, Northampton,|
|||NN3 6NW|
|||TheCharityBankLimited,FosseHouse,182HighStreet,Tonbridge,TN91BE|



## Directors and Trustees 

The directors of the charitable company are its trustees for the purpose of charity law. The trustees and officers serving during the year and since the year end were as follows: 

NW Salisbury BA (Hons) ACIB Appointed April 2014 (Chair from 07 July 2021) 

K Ginks BA (Hons) PG Dip MRICS Appointed November 2015 

Bishop M Bryant BA (Hons) Appointed 22nd January 2018 

A Morris BEng (Hons) CIMA Appointed November 2018 

F Bowman, MBA CIWFM FCMI Appointed 03 August 2021 

A Griffiths PhD, MA & BA (Hons) Appointed 26 January 2022 

J Norton BA (Hons) Appointed 26 January 2022 

W Waithaka MBA CIMA Appointed 26 January 2022 

## Trustees who stepped down during the period 

R Tierney BA (Hons) Appointed 26 January 2022, stood down 19 September 2023 

## Key management personnel 

The key management personnel are the non-executive directors of the organisation, who are responsible for the day-to-day management of the charity's activities: 

Chief Executive Officer: D W Smith MA (Hons), MPhil, commenced in post September 2016 Chief Operating Officer: S Lister BA (Hons), FCA, commenced in post June 2018 Director of Chaplaincy: P Conn, changed role from September 2022 Director of Programmes: C Wood, commenced in post September 2022 Director of Housing: J Gauden-Hand (LLB), commenced in post April 2014 

7 



Oasis Aquila Housing Ltd 

(Trading as Oasis Community Housing - A company limited by guarantee) 

## Report of the Trustees 

For the year ended 31 August 2023 

## STRUCTURE, GOVERNANCE AND MANAGEMENT 

## Governing document 

The charity is controlled by its governing documents, a deed of trust, and constituted as a limited company, limited by guarantee, as defined by the Companies Act 2006. A new Memorandum and Articles were adopted in April 2014. 

Oasis Aquila Housing (trading as Oasis Community Housing since September 2018) is a charitable company limited by guarantee, incorporated on 30 November 2004 and registered as a charity on 11 January 2005. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £10. 

## Recruitment and appointment of Board 

The directors of the company are also the trustees under charity law. Under the requirements of the Memorandum and Articles of Association the trustees are elected to serve for a period of three years after which they can be reelected in accordance with the Articles up to a maximum of three terms. All the initial trustees were appointed as subscribers to the Memorandum and Articles of Association. 

## Trustee induction and training 

Most trustees are already familiar with the practical work of the charity. Additionally, new trustees are invited and encouraged to attend a series of short meetings with the Chief Executive Officer, Chair and Senior Management to familiarise themselves with the charity and the context within which it operates. These cover: 

. The obligations with the Board. ° The main documents which set out the operational framework of the charity including the Memorandum and Articles of Association. 

- . Resourcing and the current financial position as set out in the latest published accounts. . Future plans and objectives. 

## Responsibilities and Delegation of Authority 

The trustees are responsible for the strategic direction and policy of the charity. At present we have eight trustees from a variety of professional backgrounds relevant to the work of the charity. 

A scheme of delegation is in place and day to day responsibility for the provision of the services rests with the Chief Executive (CEO) along with the Executive Team of Directors. The CEO is responsible for ensuring that the charity delivers on the Charitable Objects, vision and mission of the charity, including through the setting of time-bound strategies that turn these into tangible objectives. Additionally, the CEO takes a lead on representing the organisation externally and building strategic partnerships and has especially focussed on this over the financial year just ended. 

The Chief Operating Officer (COO) takes a lead on the strategic development of the finance and support services of Oasis Community Housing, ensuring we have the right policies, processes, compliance and resources that we need in order to deliver the highest quality support to both our staff and those we empower through our frontline services. In addition, the COO is also responsible for the day to day operations of the charity, line-managing the Director of Programmes and the Director of Housing. 

The Director of Housing is responsible for the strategic development of our Supported Housing and ensuring the day to day operational management of our supported housing projects across England runs effectively. The Director of Programmes is responsible for the strategic development of our Crisis Services, Employability and Domestic Abuse Programmes and ensuring the day to day operational management of these is effective. Both are responsible for ensuring that their respective project teams are supervised and supported and ensuring that the teams continually develop their skills and working practices in line with good practice. 

## Related party relationships 

Oasis Community Housing Ltd is a wholly owned subsidiary of Oasis Charitable Trust (OCT) Company Limited by Guarantee number 2818823 and Registered Charity number 1026487. The relationship is governed by an Intra~Group Agreement. N Salisbury is a director of OCT in addition to Oasis Community Housing. 

8 



Oasis Aquila Housing Ltd 

(Trading as Oasis Community Housing - A company limited by guarantee) 

Report of the Trustees 

## For the year ended 31 August 2023 

## Pay policy 

The pay of the Chief Executive is set by the Board. The Board of Trustees hold an annual remuneration subcommittee where pay awards or Cost of Living increases are agreed. The pay of all senior staff, with the exception of the Chief Executive follow the pay scales of the organisation which are evaluated according to the responsibilities of the post, with set grades and increments of pay. We are an accredited Real Living Wage employer and ensure that our staff receive a real living wage in both the North East and London. Our Salary Scales were reviewed and updated in November 2022 in relation to both inflationary pressures brought on by the Cost of Living crisis, and in the light of increases to the Real Living Wage. The pay of the Chief Executive is benchmarked with charities of comparable scale and reach and approved by the Oasis Community Housing HR & Remuneration subcommittee. 

## Risk management 

The Board reviews the risks faced by the charity on a quarterly basis, maintaining a risk register of the major risks faced by the charity and the strategies in place to manage the risk effectively. The greatest risks faced by the charity currently are financial risks and risks relating to the characteristics of the clients. Funding streams are monitored closely by the trustees at full Board level and through the Finance, Audit and Risk Subcommittee, attended by the Chair, Vice Chair and Executive Team. Staff and volunteers are subject to DBS procedures and lone working strategies are in place and regularly reviewed to ensure the safety of staff and service users. 

During the period the Safeguarding, Health & Safety Subcommittee has met three times to provide governance oversight of all Safeguarding activity throughout the charity. This ensures that the Safeguarding of children and vulnerable adults remains a key priority in the governance of the organisation and that our Safeguarding Strategy is owned at the highest level. 

Our governance and executive oversight are enhanced by the day to day operational focus that the senior leadership of the staff have on both health & safety and safeguarding. Our Health & Safety Officer keeps our H&S awareness and practice up to date through regular inspections and staff training, and every Project Team Leader is the H&S lead within their own project so as to ensure both authority and accountability. In 2022-23 we began planning for an external Health & Safety Audit in order to test our organisational preparedness, and this will be undertaken in the next Financial Year. 

9 



Oasis Aquila Housing Ltd (Trading as Oasis Community Housing - A company limited by guarantee) 

Report of the Trustees 

## For the year ended 31 August 2023 

## STATEMENT OF DIRECTORS’ RESPONSIBILITIES 

The trustees (who are also directors of Oasis Community Housing Ltd for the purposes of company law) are responsible for preparing the Directors’ report 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 these financial statements, the Directors are required to: 

- e select suitable accounting policies and then apply them consistently; e observe the methods and principles in the Charities SORP; e make judgements and estimates that are reasonable and prudent; 

- e state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; 

- e prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. 

The Directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and 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. 

So far as each of the trustees is aware at the time the report is approved: 

- e there is no relevant audit information of which the charitable company's auditors are unaware, and e the Directors have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. 

## Auditors 

In accordance with the competitive tender undertaken in 2022 Haines Watts North East Audit LLP were reappointed as auditors. 

This report was approved by the trustees on 23 November 2023 and signed on their behalf, by: 


**----- Start of picture text -----**<br>
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N W Salisbury BA (Hons) ACIB 

Chair 

10 



Oasis Aquila Housing Ltd (Trading as Oasis Community Housing - A company limited by guarantee) 

Independent Auditors' Report to the members of Oasis Aquila Housing Ltd 

## For the year ended 31 August 2023 

## Opinion 

We have audited the financial statements of Oasis Aquila Housing Limited (the ‘charitable company’) for the year ended 31 August 2023 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: 

- give a true and fair view of the state of the charitable company’s affairs as at 31 August 2023, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## Basis for opinion 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## Conclusions relating to going concern 

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

## Other information 

The other information comprises the information included in the trustees annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. 

Opinions on other matters prescribed by the Companies Act 2006 

In our opinion, based on the work undertaken in the course of the audit: 

- — the information given in the trustees' report (incorporating the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- * — the directors’ report has been prepared in accordance with applicable legal requirements. 

11 



Oasis Aquila Housing Ltd (Trading as Oasis Community Housing - A company limited by guarantee) 

## Independent Auditors’ Report to the members of Oasis Aquila Housing Ltd 

## For the year ended 31 August 2023 

Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: 

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or 

- ¢ the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of directors’ remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit; or 

- + the trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report. 

## Responsibilities of trustees 

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. 

## Auditor responsibilities for the audit of the financial statements 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We obtained an understanding of the legal and regulatory framework applicable to the charitable company itself and the industry in which it operates. We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our sector experience and through discussion with the directors and other management. The most significant were identified as the Charities Act 2011, the Companies Act 2006, UK GAAP (FRS 102) and relevant tax legislation. We considered the extent of compliance with those laws and regulations as part of our audit procedures on the related financial statements. Our audit procedures included: 

- e confirming with the trustees and management whether they have any knowledge or suspicion of fraud; e obtaining an understanding of the internal controls established to mitigate risks related to fraud or noncompliance with laws and regulations; 

- e assessing the risk of management override of controls, including testing a sample ofjournal entries; e obtaining confirmation directly from the banks to verify the balance as at the last day of the accounting year; 

- e reviewing minutes of those charged with governance; and, e challenging the assumptions and judgements made by management in significant accounting estimates, principally the valuation of the property portfolio. 

A further description of our responsibilities is available on the FRC's website 

at: httos://www.fre.org.uk/auditors/audit-assurance/auditor-s-responsibilities-for-the-audit-of-the-fi/description-ofthe-auditor%E2%80%99s-responsibilities-for This description forms part of our auditor's report. 

12 



Oasis Aquila Housing Ltd 

(Trading as Oasis Community Housing - A company limited by guarantee) 

## Independent Auditors' Report to the members of Oasis Aquila Housing Ltd 

For the year ended 31 August 2023 

## Use of our report 

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the Opinions we have formed. 

Craig Henderson (Senior Statutory Auditor) For and on behalf of Haines Watts North East Audit LLP Chartered Accountants and Statutory Auditors 

## AL Deemlel 20% 

17 Queens Lane Newcastle upon Tyne NE1 1RN 

13 



Oasis Aquila Housing Ltd 

(Trading as Oasis Community Housing - A company limited by guarantee) 

## Statement of Financial Activities 

## For the year ended 31 August 2023 

|For the year ended 31 AugustAugust|2023||||||
|---|---|---|---|---|---|---|
||||Unrestricted||||
|||Unrestricted|Designated|Restricted|Total|Total|
|||Funds|Funds|Funds|2023|2022|
||Notes|£|£|£|£|£|
|Income:|||||||
|Donations|4|182,854|-|30,869|213,723|150,174|
|Grants|4|20,398|-|1,319,474|1,339,872|1,160,966|
|Charitable Activities|5||||||
|Rental Income||1,765,791|-|-|1,765,791|1,806, 167|
|Contract Income||1,098,259|-|-|1,098,259|1,069,609|
|Other Income||15,725|-|-|15,725|30,525|
|Investment income|6|3,484|-|-|3,484|1,232|
|Other trading activities|||||||
|Fundraising||79,236|-|-|79,236|52,045|
|Other||-|-|-|-|13|
|||3,165,747|-|1,350,343|4,516,090|4,270,731|
|Expenditure:|||||||
|Raising funds|7|281,061|-|-|281,061|229,448|
|Charitable activities|7|3,011,675|72,840|1,256,002|4,340,517|4,165,896|
|Loss on revaluation|17|-|462|-|462|-|
|||3,292,736|73,302|1,256,002|4,622,040|4,395,344|
|Net income/(expenditure)||(126,989)|(73,302)|94,341|(105,950)|(124,613)|
|Transfers between funds|17|8,989|(8,989)|-|-|-|
|Other recognised gains|||||||
|Gains on revaluation of fixed|||||||
|assets||-|210,012|-|210,012|47,050|
|Net movement in funds||(118,000)|127,721|94,341|104,062|(77,563)|
|Reconciliation of funds|||||||
|Total funds brought forward||575,442|1,979,590|452,574|3,007,606|3,085,169|
|Totalfundscarriedforward||457,442|2,107,311|546,915|3,111,668|3,007,606|



The Statement of Financial Activities includes all gains and losses recognised in the year. 

All incoming resources and resources expended derive from continuing activities. 

14 



## Oasis Aquila Housing Ltd 

## (Trading as Oasis Community Housing - A company limited by guarantee) 

## Balance Sheet 

## As at 31 August 2023 

|||Unrestricted<br>Funds|Restricted<br>Funds|Total<br>2023|Total<br>2022|
|---|---|---|---|---|---|
||Notes|£|£|£|£|
|Fixed Assets:||||||
|Tangible assets|13|2,648,717|-|2,648,717|2,500,490|
|Current Assets||||||
|Debtors<br>Cash at bank and in hand|14|231,088<br>674,072|132,386<br>414,529|363,474<br>1,088,601|751,703<br>705,415|
|||905,160|546,915|1,452,075|1,457,118|
|Liabilities:||||||
|Creditors: Amounts falling due within||||||
|one year|15|(466,086)|-|(466,086)|(414,817)|
|Net Current assets||439,074|546,915|985,989|1,042,301|
|Total assets less current liabilities||3,087,791|546,915|3,634,706|3,542,791|
|Creditors: Amounts falling due after<br>more than one year|16|(523,038)|-|(523,038)|(535,185)|
|Net assets||2,564,753|546,915|3,111,668|3,007,606|
|The funds ofthe charity:||||||
|Unrestricted funds:||||||
|General fund||||457,442|575,442|
|Designated funds||||2,107,311|1,979,590|
|||||2,564,753|2,555,032|
|Restricted funds||||546,915|452,574|
|TotalFunds|17|||3,111,668|3,007,606|



These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. 


**----- Start of picture text -----**<br>
Approved by the Board of Trustees on 23 November 2023 and signed on their behalf by:<br>fy p<br>N fa Lc<br>**----- End of picture text -----**<br>


N W Salisbury BA (Hons) ACIB Chair 

Company Number: 05300083 

The notes on pages 16 to 28 form part of these financial statements. 

15 



Oasis Aquila Housing Ltd (Trading as Oasis Community Housing - A company limited by guarantee) 

## Notes to the financial statements 

## For the year ended 31 August 2023 

1. Accounting policies 

1.1 Basis of preparation The financial statements have been prepared in accordance with 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) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice. 

Oasis Aquila Housing Ltd meets the definition of a public benefit under FRS 102. The financial statements are prepared under the historical cost convention or transaction value unless otherwise stated in the relevant accounting policy note(s). The financial statements are prepared in Sterling which is the functional currency of the charity and rounded to the nearest £. 

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 

- 1.2 Going concern 

The financial statements have been prepared on a going concern basis, which the trustees believe is possible based on their cash flow forecasts and projections. This includes stress testing the finances of the business to account for severe but plausible downside scenarios such as the non-renewal of certain contracts. The trustees have considered the level of funds held and the expected level of income and expenditure for at least 12 months from authorising these financial statements. Annual budgets take into account the current difficult economic difficulties as they relate to funding and increasing costs and are monitored on a monthly basis. Based on the budgets and the cash flow forecasts prepared the trustees consider that the charity has sufficient reserves in place to be able to continue as a going concern. 

1.3 Funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charitable company and which have not been designated for other purposes. 

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. 

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the company for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. 

- 1.4 Incoming resources 

All incoming resources are included in the Statement of Financial Activities when the charity has entitlement to the funds, any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. 

## Donations are recognised when receivable 

Grant income is recognised where there is entitlement, receipt of the funds are probable and the amount can be measured with reasonable certainty. If there are conditions attached to the grant and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. 

Income from charitable activities includes income received under contract and rental income. Contract income is subject to specific performance conditions and is recognised as earned. Income received to deliver services over a specific period covering more than one financial year is accounted for over the specific period. Rental income in the form of housing benefit is recognised in the period to which it relates and rental income received from the service user is recognised on receipt. 

Investment income relates to interest earned through holding assets on deposit. 

16 



## Oasis Aquila Housing Ltd (Trading as Oasis Community Housing - A company limited by guarantee) 

## Notes to the financial statements 

## For the year ended 31 August 2023 

In accordance with the Charities SORP (FRS 102), the general volunteer time is not recognised, refer to the trustees report for more information about their contribution. 

1.5 Expenditure and irrecoverable VAT All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. 

Irrecoverable VAT is charged against the cost in which the expenditure was incurred. 

1.6 Support cost allocation Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity. 

1.7 Tangible fixed assets Tangible fixed assets are stated at cost (or deemed cost) except fully owned freehold & long leasehold properties which are at valuation, less accumulated depreciation and accumulated impairment losses. 

Depreciation is provided on all assets at rates calculated to write off the cost or valuation, less estimated residual value, over their estimated useful economic lives as follows: 

|Freehold property|Valuation and 2% straight line|
|---|---|
|Freehold property - part owned|Cost and 2% straight line|
|Long leasehold|Valuation and 2% straight line|
|Leasehold improvements|Cost and 33% straight line|
|Motor vehicles|Cost and 25% straight line|
|Computerandfixtures|Costand33%straightline|



The assets residual values and useful life are reviewed, and adjusted as appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively. 

1.8 Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 

1.9 Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 

## 1.10 Creditors and provisions 

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement after allowing for any trade discounts due. 

1.11 Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 

1.12 Pensions The charitable company contributes to its parent company's defined contribution pension scheme for employees. The annual contributions payable are charged to the Statement of Financial Activities. 

17 



Oasis Aquila Housing Ltd 

(Trading as Oasis Community Housing - A company limited by guarantee) 

Notes to the financial statements 

For the year ended 31 August 2023 

- 1.13 Tax The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. 

- 1.14 Exemption from preparing a cash flow statement Exemption has been taken from preparing a cash flow statements on the grounds that the charity is part of a larger group. 

2. Legal status 

Oasis Aquila Housing Ltd is a company limited by guarantee (No 05300083) and not having a share capital. In the event of the company being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. 

18 



Oasis Aquila Housing Ltd (Trading as Oasis Community Housing - A company limited by guarantee) 

## Notes to the financial statements 

## For the year ended 31 August 2023 

## 3. Comparative Statement of Financial Activities 

||||Unrestricted||||
|---|---|---|---|---|---|---|
|||Unrestricted|Designated|Restricted|Total|Total|
|||Funds|Funds|Funds|2022|2021|
||Notes|£|£|£|£|£|
|Income:|||||||
|Donations|4|102,076|-|48,098|150,174|161,021|
|Grants|4|29,199|-|1,131,767|1,160,966|1,147,616|
|Charitable Activities|5||||||
|Rental Income||1,806,167|-|-|1,806,167|1,894,881|
|Contract Income||1,069,609|-|-|1,069,609|1,139,828|
|Other Income||30,525|-|-|30,525|23,886|
|Investment income|6|1,232|-|-|1,232|1,992|
|Other trading activities|||||||
|Fundraising||52,045|-|-|52,045|30,776|
|Other||13|-|-|13|620|
|||3,090,866|-|1,179,865|4,270,731|4,400,620|
|Expenditure:|||||||
|Raising funds|7|229,448|-|-|229,448|199,844|
|Charitable activities|7|2,781,090|112,256|1,272,550|4,165,896|4,227,778|
|||3,010,538|112,256|1,272,550|4,395,344|4,427,622|
|Net income/(expenditure)||80,328|(112,256)|(92,685)|(124,613)|(27,002)|
|Transfers between funds|17|(32,677)|32,677|-|-|-|
|Other recognised gains|||||||
|Gains on revaluation of fixed|||||||
|assets||-|47,050|-|47,050|172,500|
|Netmovement in funds||47,651|(32,529)|(92,685)|(77,563)|145,498|
|Reconciliation of funds|||||||
|Total funds brought forward||527,791|2,012,119|545,259|3,085,169|2,939,671|
|Totalfundscarriedforward||575,442|1,979,590|452,574|3,007,606|3,085,169|



The Statement of Financial Activities includes all gains and losses recognised in the year. 

All incoming resources and resources expended derive from continuing activities. 

19 



Oasis Aquila Housing Ltd (Trading as Oasis Community Housing - A company limited by guarantee) 

## Notes to the financial statements 

## For the year ended 31 August 2023 

|For the year ended 31 August 2023|||
|---|---|---|
|4.<br>Donations & grants|||
||2023|2022|
||£|£|
|Donations<br>Grants|213,723<br>1,339,872|150,174<br>1,160,966|
||1,553,595|1,311,140|
|All donations are generated through the Business Development Unit.|||
|Analysis of grants|||
||2023|2022|
||£|£|
|B&Q Foundation|-|5,000|
|Barclays Bank|-|100,000|
|Benefact Trust|25,500|-|
|Changing Futures|-|18,095|
|Community Foundation Tyne &Wear & Northumberland (Linden Family Fund)|10,000|5,000|
|Community Foundation Tyne &Wear & Northumberland (P&G Fund)|5,000|3,000|
|Durham County Council (MHCLG)|-|548,170|
|DWP Access to work|-|8,701|
|Fulfilling Lives|-|37,457|
|Garfield Weston Foundation|20,000|-|
|Gateshead Council|-|6,182|
|Gateshead Council (Financial Capability)|10,000|8,750|
|Gateshead Council (MHCLG)|658,479|-|
|Gateshead Council (Wellbeing Works)|10,000|-|
|Hospital ofGod at Greatham|1,000|-|
|Jack Petchy Foundation|2,760|1,200|
|Julia and Hans Rausing Trust|7,183|-|
|Landaid Charitable Trust|21,650|-|
|Leeds Building Society|45,766|-|
|National Lottery Community Fund (Awards for all)|-|10,000|
|National Lottery Community Fund (BBO Moving On Tyne &Wear)|48,582|80,289|
|National Lottery Community Fund (BBO Wise Steps)|17,481|33,460|
|National Lottery Community Fund (Help though crisis)|-|32,914|
|National Lottery Community Fund (Reaching Communities— Gateshead)|100,000|100,000|
|National Lottery Community Fund (Reaching Communities— Sunderland)|33,000|66,500|
|North EastArea Miners Social Welfare Trust Fund|1,000|-|
|North East Probation Service|10,000|-|
|Northumberland Estates|5,000|-|
|Northumbria Police & Crime Commissioner|1,000|-|
|Northumbria Police & Crime Commissioner (MOJ DA/SV Community Fund)|57,200|10,300|
|Northumbria Police<br>& Crime Commissioner (Supporting Victims Fund)|47,500|48,448|
|Safe Lives (The Circle Fund)|-|5,000|
|Screwfix Foundation|5,000|-|
|Sir James Knott Trust|20,000|-|
|Social Bite|5,800|-|
|SouterCharitableTrust|1,000|-|



20 



Oasis Aquila Housing Ltd (Trading as Oasis Community Housing - A company limited by guarantee) 

## Notes to the financial statements 

## For the year ended 31 August 2023 

## Analysis of grants (continued) 

|Southwark Council|-|5,168|
|---|---|---|
|Stewardship (Thompson Fund)|5,000|-|
|Sunderland City Council (MHCLG)|74,795|-|
|Sunderland City Council (Outreach)|5,000|-|
|Tesco Community Grants|1,375|-|
|The Charity of Sir Richard Whittingham|33,334|-|
|The Virgin Money Foundation|2,000|-|
|WA Handley Charity Trust|1,000|-|
|Other|47,467|27,332|
||1,339,872|1,160,966|
|5.<br>Income from charitable activities|||
||2023|2022|
||£|£|
|Home|2,818,950|2,876,591|
|Basis|60,825|29,710|
||2,879,775|2,906,301|



|5.|Income|from|charitable|activities|
|---|---|---|---|---|
|Home|||||
|Basis|||||



## 6. Income from investments 

All of the charitable company’s investment income arises from the money held in interest bearing deposit accounts. 

## 7. Expenditure on charitable activities 

||Direct|Support|||
|---|---|---|---|---|
||Costs|Costs|2023|2022|
||£|£|£|£|
|Home|2,404,347|442,336|2,846,683|2,718,698|
|Basis<br>Empower|817,165<br>112,213|310,411<br>45,699|1,127,576<br>157,912|1,059,319<br>158,096|
|Aspire|144,539|63,807|208,346|229,783|
||3,478,264|862,253|4,340,517|4,165,896|



Support costs above include Governance costs as shown below 

||2023|2022|
|---|---|---|
||£|£|
|Home|28,369|31,779|
|Basis|19,908|19,712|
|Empower|2,931|3,405|
|Aspire|4,092|4,838|
||55,300|59,734|
|Expenditure on fundraising|||
||2023|2022|
||£|£|
|Staff costs|192,618|158,812|
|Event & other costs|88,443|70,636|
||281,061|229,448|



21 



Oasis Aquila Housing Ltd (Trading as Oasis Community Housing - A company limited by guarantee) 

## Notes to the financial statements 

## For the year ended 31 August 2023 


**----- Start of picture text -----**<br>
||||||
|---|---|---|---|---|
|8.|Allocation|of support|costs|
|Staff|premisesOffice|runningOffice|Total|
|£|£|£|£|
|Home|276,550|25,911|139,875|442,336|
|Basis|194,070|18,183|98,158|310,411|
|Empower|28,571|2,677|14,451|45,699|
|Aspire|39,892|3,738|20,177|63,807|
|539,083|50,509|272,661|862,253|

**----- End of picture text -----**<br>


As the charity’s activities are primarily staff based the support costs have been allocated in line with staff costs. 

9. Governance costs 


**----- Start of picture text -----**<br>
||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|2023|2022|
|£|£|
|Staff costs|44,042|35,715|
|Office|running|4,419|5,011|
|Recruitment|-|13,368|
|Audit|6,840|5,640|
|55,301|59,734|
|10.|Net|income/(expenditure)|for the|year|
|This|is|stated|after|charging:|
|2023|2022|
|£|£|
|Depreciation|of|tangible|fixed|assets|owned|by|the|charity:|50,187|51,619|
|Loan|interest|paid|34,234|16,425|
|11.|Auditors|remuneration|
|2023|2022|
|£|£|
|Fees|payable|to|the|charity’s|auditors|for|the|audit|of|the|annual|accounts|6,840|5,640|

**----- End of picture text -----**<br>


## 12. Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel. 

Staff costs were as follows: 


**----- Start of picture text -----**<br>
||||||
|---|---|---|---|---|
|2023|2022|
|£|£|
|Wages|and|salaries|2,192,034|2,020,806|
|Social|security|costs|186,753|173,482|
|Other|pension|costs|145,176|138,088|
|2,523,963|2,332,376|

**----- End of picture text -----**<br>


22 



Oasis Aquila Housing Ltd (Trading as Oasis Community Housing - A company limited by guarantee) 

## Notes to the financial statements 

## For the year ended 31 August 2023 

The average monthly number of employees during the year was as follows: 

||2023|2022|
|---|---|---|
||Number|Number|
|Chief Executive|1|1|
|Project staff|73|76|
|Administration and support|22|22|
||96|99|



One member of staff received remuneration in excess of £60,000 (2022 - None). 

The charity trustees were not paid or received any other benefits from employment in the year (2022 - fnil). No charity trustee received payment for professional or other services supplied to the charity (2022 - Enil). During the year 2 trustees were reimbursed £687 for expenses (2022 - £1,331 was reimbursed to 7 trustees). 

The key management personnel of the charity comprise the Chief Executive Officer and the Executive team. The total employee benefits of the key management personnel of the charity were £253,726 (2022 - £200,974). 

## 13. 

## Tangible fixed assets 

|||Freehold|||||
|---|---|---|---|---|---|---|
||Freehold<br>property|part-<br>owned|Long<br>leasehold|Leasehold<br>improvements|Computers<br>& fixtures|Total|
||£|£|£|£|£|£|
|Cost|||||||
|At 1 September 2022|1,953,638|156,850|410,000|24,294|52,470|2,597,252|
|Additions<br>Disposals<br>Revaluation|3,068<br>(14,204)<br>182,500|-<br>-<br>-|-<br>-<br>(20,000)|-<br>(24,294)<br>-|-<br>(52,470)<br>-|3,068<br>(90,968)<br>162,500|
|At 31 August 2023|2,125,002|156,850|390,000|-|-|2,671,852|
|Depreciation|||||||
|At 1 September 2022|-|19,998|-|24,294|52,470|96,762|
|Charge for year|38,850|3,137|8,200|-|-|50,187|
|Disposals<br>Revaluation|-<br>(38,850)|-<br>-|-<br>(8,200)|(24,294)<br>-|(52,470)<br>-|(76,764)<br>(47,050)|
|At 31 August 2023|-|23,135|-|-|-|23,135|
|Net book value|||||||
|At 31 August 2023|2,125,002|133,715|390,000|-|-|2,648,717|
|At31August2022|1,953,638|136,852|410,000|-|-|2,500,490|



The part owned property is a property in which Oasis Aquila Housing has an equity interest of 49.66%. 

23 



Oasis Aquila Housing Ltd 

## (Trading as Oasis Community Housing - A company limited by guarantee) 

## Notes to the financial statements 

## For the year ended 31 August 2023 

In respect of the assets stated at valuations the comparable historical cost and depreciation are as follows 


**----- Start of picture text -----**<br>
||||||||
|---|---|---|---|---|---|---|
|Freehold|Long|
|Property|Leasehold|Total|
|£|£|£|
|Cost|
|At|1|September 2022|1,700,064|529,390|2,229,454|
|Additions|3,068|-|3,068|
|Disposals|(14,204)|-|(14,204)|
|At|31|August|2023|1,688,928|529,390|2,218,318|
|Depreciation|
|At1 September|2022|372,943|80,230|453,173|
|Charge|for|year|5,381|9,181|14,562|
|Disposals|-|-|-|
|At|31|August|2023|378,324|89,411|467,735|
|Net|book|value|
|At|31|August|2023|1,310,604|439,979|1,750,583|
|At|31|August|2022|1,327,121|449,160|1,776,281|

**----- End of picture text -----**<br>


Fully owned freehold and leasehold properties were valued in August 2023 by McGillivrays Chartered Surveyors and Bradley Hall Chartered Surveyors. 

## 14. Debtors 


**----- Start of picture text -----**<br>
|||||||||
|---|---|---|---|---|---|---|---|
|2023|2022|
|£|£|
|Trade|debtors|124,791|515,169|
|Other|debtors|7,948|10,438|
|Prepayments|&|accrued|income|230,735|226,096|
|363,474|751,703|
|15.|Creditors:|amounts|falling|due|within|one|year|

**----- End of picture text -----**<br>



**----- Start of picture text -----**<br>
||||||||
|---|---|---|---|---|---|---|
|2023|2022|
|£|£|
|Bank|loans|43,162|43,162|
|Trade|creditors|121,877|102,909|
|Social|security|and|other|taxes|44,251|43,964|
|Other|creditors|98,966|91,242|
|Accruals|and|deferred|income|157,830|133,540|
|466,086|414,817|

**----- End of picture text -----**<br>


Deferred income comprises contracts relating to future periods. 


**----- Start of picture text -----**<br>
||||||||||
|---|---|---|---|---|---|---|---|---|
|£|
|Balance|at|1|September|2022|76,621|
|Amounts|released|to|income|earned|from|charitable|activities|(76,621)|
|Amounts|deferred|in|the|year|59,073|
|Balance|at|31|August|2023|59,073|

**----- End of picture text -----**<br>


24 



Notes to the financial statements 

## Oasis Aquila Housing Ltd (Trading as Oasis Community Housing - A company limited by guarantee) 

## For the year ended 31 August 2023 

|16.<br>Creditors: amounts falling due after more than|16.<br>Creditors: amounts falling due after more than|16.<br>Creditors: amounts falling due after more than|16.<br>Creditors: amounts falling due after more than|one year||||
|---|---|---|---|---|---|---|---|
|||||||2023|2022|
|||||||£|£|
|Bank loans||||||523,038|535,185|
|Bank loans are analysed as|follows:|||||||
|Due within 1 year||||||43,162|43,162|
|Due within 1-2 years||||||43,162|43,162|
|Due within 2-5 years||||||479,876|492,023|
|Due after more than 5 years||||||-|-|
|||||||566,200|578,347|
|The bank loan is secured byway ofa legal charge over part ofthe property portfolio. The repayments are spread||||||||
|over 25 years but the remaining balance is fully|||repayable after 10 years (August 2026). Interest is||||payable at|
|2.25% above base rate on the principal amount.||||||||
|17.<br>Fund reconciliation||||||||
|Year ended 31 August|2023|||||||
||Balance at<br>1 Sept 2022|Incoming<br>Resources||Resources<br>expended|Transfers|Gain/<br>loss|Balanceat<br>31 Aug 2023|
||£||£|E|£|£|£|
|Unrestricted funds||||||||
|General fund|575,442|3,165,747||(3,292,736)|8,989|-|457,442|
||||||.|||
|Designated funds||||||||
|Property fund|1,584,127||-|(50,187)|78,306|(462)|1,611,784|
|Revaluation reserve|338,016||-|-|(77,295)|210,012|470,733|
|Elizabeth House||||||||
|refurbishment fund|5,000||-|(5,000)|-|-|-|
|Maintenance fund|24,794||-|-|-|-|24,794|
|Systems upgrade fund|12,653||-|(12,653)|-|-|-|
|Beneficiary fund|15,000||-|(5,000)|(10,000)|-|-|
||2,555,032|3,165,747||(3,365,576)|-|209,550|2,564,753|
|Restricted funds||||||||
|Home<br>Basis<br>Empower<br>Aspire|29,733<br>270,042<br>24,074<br>128,725|105,063<br>1,003,108<br>124,752<br>117,420||(37,219)<br>(953,038)<br>(126,550)<br>(139,195)|-<br>-<br>-<br>-|-<br>-<br>-<br>-|97,577<br>320,112<br>22,276<br>106,950|
||452,574|1,350,343||(1,256,002)|-|-|546,915|
|Totalfunds|3,007,606|4,516,090||(4,621,578)|-|209,550|3,111,668|



## 17. Fund reconciliation 

25 



Oasis Aquila Housing Ltd 

(Trading as Oasis Community Housing - A company limited by guarantee) 

Notes to the financial statements 

## For the year ended 31 August 2023 

## 17. Fund reconciliation (continued) 

## Year ended 31 August 2022 

||Balanceat<br>1 Sept 2021|Incoming<br>Resources|Resources<br>expended|Transfers|Gain/<br>loss|Balance at<br>31 Aug 2022|
|---|---|---|---|---|---|---|
||£|£|£|£|£|£|
|Unrestricted funds|||||||
|General fund|527,791|3,090,866|(3,010,538)|(32,677)|-|575,442|
|Designated funds|||||||
|Property fund|1,554,783|-|(50,383)|79,727|-|1,584,127|
|Revaluation reserve|338,016|-|-|(47,050)|47,050|338,016|
|Elizabeth House|||||||
|refurbishment fund|5,000|-|-|-|-|5,000|
|Maintenance fund|44,000|-|(19,206)|-|-|24,794|
|Systems upgrade fund|25,320|-|(12,667)|-|-|12,653|
|Beneficiary fund|30,000|-|(15,000)|-|-|15,000|
|Support costs fund|15,000|-|(15,000)|-|-|-|
||2,539,910|3,090,866|(3,122,794)|-|47,050|2,555,032|
|Restricted funds|||||||
|Home<br>Basis|77,878<br>345,408|48,349<br>806,387|(96,494)<br>(881,753)|-<br>-|-<br>-|29,733<br>270,042|
|Empower|42,139|78,191|(96,256)|-|-|24,074|
|Aspire|79,834|246,938|(198,047)|-|-|128,725|
||545,259|1,179,865|(1,272,550)|-|-|452,574|
|Totalfunds|3,085,169|4,270,731|(4,395,344)|-|47,050|3,007,606|



## Property fund 

The fund represents the net book value of all properties held less the revaluation reserve, related borrowings and properties held for sale. Transfers are made each year to achieve this. 

## Revaluation reserve 

The fund represents the excess of valuations over the original cost of revalued properties and is held as a designated reserve until disposal of the related property or a lower valuation is made. 

## Elizabeth House refurbishment 

This fund is to cover the costs of planning for a proposed summer house to be used as meeting space for residents 

## Maintenance fund 

The cost of planned maintenance work on our properties which has been calculated over a 3 year period. There has been no expenditure during the year due to postponing expenditure until some key related contracts are renewed. 

## Systems upgrade fund 

The charity's systems upgrade was completed during the year. 

## Beneficiary fund 

This fund was to provide a mentoring scheme for our male residents within our Southwark Project. A pilot scheme was run during this and the previous year which came under budget. The charity has decided not to continue with this project for the foreseeable future, therefore the balance of the fund has been transferred back to unrestricted reserves. 

26 



Oasis Aquila Housing Ltd (Trading as Oasis Community Housing - A company limited by guarantee) 

Notes to the financial statements 

## For the year ended 31 August 2023 

## Support costs fund 

This fund was provided to employ additional administrative support in Central Office. Staff were appointed to these posts during 2022 and their costs charged against it. 

## Restricted funds 

## Home 

The Home Fund represents funding received to increase access to housing. This includes funds to improve and refurbish our portfolio of properties, as well as funding for mental health support and our Transitions Fund. 

## Basis 

The Basis Fund represents funding received to provide services to people in crisis, those who are either homeless or likely to be. It includes funds received for the operating of our Basis Drop In’s in Gateshead and Sunderland. It includes funds received to provide our Housing First type model — Basis Beds and our direct access homeless accommodation. 

## Empower 

The Empower fund represents funding received to work with victims of domestic abuse and sexual violence. 

## Aspire 

The Aspire Fund represents funds received to deliver employability services to those who face barriers to employment across the North East. 

## 18. Analysis of net assets between funds 

For the year ended 31 August 2023 

||Unrestricted|Restricted|Total|
|---|---|---|---|
||funds|funds|funds|
||£|£|£|
|Tangible fixed assets|2,648,717|-|2,648,717|
|Current assets|905,160|546,915|1,452,075|
|Creditors due within one year|(466,086)|-|(466,086)|
|Creditors due in more than one year|(523,038)|-|(523,038)|
||2,564,753|546,915|3,111,668|
|Forthe yearended 31 August2022||||
||Unrestricted|Restricted|Total|
||funds|funds|funds|
||£|£|£|
|Tangible fixed assets|2,500,490|-|2,500,490|
|Current assets|1,004,544|452,574|1,457,118|
|Creditors due within one year|(414,817)|-|(414,817)|
|Creditors due in more than one year|(535,185)|-|(535,185)|
||2,555,032|452,574|3,007,606|



27 



Oasis Aquila Housing Ltd (Trading as Oasis Community Housing - A company limited by guarantee) 

## Notes to the financial statements 

## For the year ended 31 August 2023 

## 19. Leases 

The future minimum lease payments under non-cancellable operating leases are as follows: 

||2023|2022|
|---|---|---|
||£|£|
|Not later than one year|1,177|4,709|
|Later than one and not later than five years|-|-|
||1,177|4,709|



## 20. Related party transactions 

At the year-end there was an amount of £20,650 owed to Oasis Charitable Trust (2022 - £19,257 owed to Oasis Charitable Trust), this entity is connected to Oasis Aquila Housing Ltd 

## 21. Pensions 

Pension contributions payable for the year ended 31 August 2023 amounted to £145,176 (2022 - £138,088). 

## 22. Analysis of changes in net debt 

|22.|Analysis of changeschanges in net debt||||
|---|---|---|---|---|
|||At 1 Sep|Cash|At 31 Aug|
|||2022|flows|2023|
|||£|£|£|
|Long <br>Short|term borrowings<br> term borrowings|(535,185)<br>(43,162)|12,147<br>-|(523,038)<br>(43,162)|
|Total <br>Cash|liabilities<br> & cash equivalents|(578,347)<br>705,415|12,147<br>383,186|(566,200)<br>1,088,601|
|||127,068|395,333|522,401|



28