Company number: 05300083 (England and Wales) Charity number: 1107554 Oasis Aquila Housing Ltd (A company limited by guarantee) Directors Report and Financlal Statements For the year ended 31 Augusl 2024
Oasis Aqulla Housing Ltd (Trading as Oasis Community HousinE- A company limited by guarantee) Contents Page Report of the Trustees 2-11 Independent auditors, report 12-14 Slatemenl of financlal activllies 15 Balance sheet 16 Notes to the financial statements 17-29
Oasi5 Aquila Housing Ltd (Trading as Oasis Community Housing- A company limited by guaranteel Report of the Trustees For the year ended 31 August 2024 INTRODUCTION The 2023-24 Financial Year has seen the breadth and depth of our work continue to respond lo the steady growth of homelessness. This is in spite ofthe 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 WG are supporting has remained fairly steady, however, the diversity and complexity of thos& we support has increased. This diversity has been driven largely by the growing number of rgfugees Goming into our services., whilst the complex challenges facing those we support arise out of a comblnalion of both the increasing absence of public sector servic8s. and our growing understanding of the Impact of trauma on homelessness. Correspondingly, our income has grown in the financial year by £228k. Our expenditure has decreased by £151k. However, il is the growth of our work on the ground that best illustrates the currenl direction and core purpose of our mission. Some of the standout slalislics of the last year include.. 30,507 actions of all kinds taken by our siaff team to support those we serve across our work over the course of the year, this is a 3.10 increase on the prior year. More than 1,250 individuals supported through our services - whilst this is a small 3.80/0 fall in the cumulative number of individuals we have been supporting since the previous year. the actions to support these individuals (as above) has risen showing an increase in the breadth of our work. 910 individuals engaging with one of our Crisis Services. 335 times we directly prevented or alleviated homelessness. 900/0 of women sUPPOrted by our Empower domestic abuse team said they fell safer as a result. The total number of women supported has risen to 217. a 400A increase on the prior year. 196 Indlviduals or families housed In our supported accomrnodalion, of which 105 are Individuals housed In our 2417 Home supported accommodation (excluding Children). In addition, we have continued to branch out into new aaS of work as opportunities have arisen. One of the most significant new developments for OCH during 2023-24 has been our shorl-term emergency supporled accommodation project in Houghton-le-spring. We are working in partnership with Sunderland Council to provide self-conlained flats with 2417 support for individuals who have experienced rough sleeping. Also, in 2023-24 we successfully tendered for work within Galeshead,. this will be mobilised in 2024-25 financial year and will provide Housing First solution for up to 20 individuals in Gateshead and South Tyneside,. 2417 Supporled Accommodation and Emergency Accommodation for people who have experienced rough sleeping or homelessness who also have multiple and complex needs: and an Outreach and Resettlement service in Gateshead and South Tyneside. W8 are looklng forward to bringing these additional services to the Gateshead and South Tyneside areas in 2024-25 and beyond. In the general election in July 2024, our Chief Executive David Smith was elected as a Member of Parliamonl and therefore, resigned from Oasis Community Housing with immediate effecl. The Board appointed Sarah Lister, our Chief Operating Officer, as Acting Chief Executive to provide stability and Continuily to the charity. Recruitment for a permanent Chiéf Executive commenced in 2025. OUR ADVOCACY WORK Following the launch of our research-led. homelessness advocacy campaign, Tackling Trauma, Ending Hom818ssness In 22-23, our advocacy work has continued al pace. This campaign is based on research thal we commissioned from Northumbria University and which shows, amongst other startling statistics, that 94¥0 of people facing homelessness have also experienced trauma in their lives. Furthermore, the research demonstrates Ihal homelessness itself is a trauma, with 28 % of respondents reporting trauma as a result of the process of becoming homeless (e.g. domeslic abuse), and 38 % reported traumatic experiences as a fesult of being homeless {e.g. never feeling physically or psychologically safe). Indeed,
Oasis Aqulla Housing Ltd (Trading as Oasis Community Housing - A company limited by guarantee) Report of the Trustees For the year ended 31 August 2024 65010 of people directly link trauma and its impact to their Current housing situation suggesting trauma is often a trigger for homelessness. Over the course of 2023-24, the campaign has continued to grow. and we have participated in numerous opportunities to Share our findings within academic symposia, the media, Local Authorities and directly with political parties at the party confarences. The report is calling for: The establishment of minimum siandards for Ihe delivery of trauma-informed homelessness support services. The development and roll out of a national Irauma-informed training programma in England, mandaled for Local Authorities and providers of commissioned homelessness servicas. The requirement for Local Authorities to only commission services supporting people experiencing homelessness that are trauma-informed, psychologically-informed and person-centred. The development of dedicated mental health pathways for p8ople experiencing homelessness that acknowledge and reflect the challenges posed by tha chaos of homelessn&ss and the impact of trauma. The next focus for the campaign will be to continue lo bring the campaign to prominence wlth the new Labour government and we have invited all of the local MP'S which have an Oasis Community Housing project in their area to visit our projects and hear about the work we have done and conlinue to do on Irauma. OUR CONTEXT, OUR ACTIVITIES AND OUR ETHOS Oasis Community Housing {OCH) is a charily wilh 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 ils expression in four broad activities, which cover all our work.. Home (Supported Accommodation). Basis {Crisis Services), Aspire (Employability and Financial Capability Programmesl and Empower (Domestic Abuse Support). Each of these broad activities 15 Outlined in grealer 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 vlslon Is.. For everyone to be part of a community where they are included, belong and have what they need to reach their God-given polential. Our mlsslon Is: To transform communiti8s by creating access to housing, 8ddr8ssing homelessness and journeying with p8opl& as th8y fulfil their God-given pot8ntial. OCH Is a subsidiary of the Oasis Charltabl8 Trust (OCTI which brings togglher the following organisatlons to create integrated, empowered and inclusive communities so that all people experience whol8ness and fullness of Ilfe. The olher subsidiaries of OCT are.. Oasis Community Learning - a Multi-Academy Trusl running 52 primary and secondary schools across England o Oasis Community Parlnerships- a Community-based charity doing grassroots community developmanl, including youth work and other locally-owned projects in 18 hubs across England Oasis Restore-a secure school enabling young people to live their b8sI lives, through education well-being & hope. It will care for children aged 12-18 who ar8 on remand and sentenced to custody by th8 Courts. Stop The Traffik- a charity whose aim is to bring an end to human trafficking. Oasls Communlty Houslng's A¢tlvlty Oasls Community Housing has a strong track record in supporting vulnerable people to become Ihrivlng, contributing members of the local community. Our core activity since inceplion has been in the field of supported housing, which we call Home. Through this work. we have developed specialist services lo support homeless young people, homeless yOL¢ng mums and their children. and increasingly anyone who finds themselves homeless. Our aim is to provide qualily accommodation and holistic support, while promoting independence at all times.
Oasi5 Aquila Housing Ltd (Trading as Oasis Community Housing- A company limited by guaranteel Report of the Trustees For tho year ended 31 August 2024 We also operale drop-in centres for individuals facing a homelessness Grisis 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 Ihis activity because in some way these issues contribute to the causes or consequences of homelessness. Oasls Community Houslng'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 currenl circumstances may say. We will encourage those we serve to dream big dreams. Worth - We believe in the inherenl worth and dignity of all people. we will therefore treat everyone equally, respecting differ8nc8s. Incluslon - Everyone has a need lo belong. So we are passionate about including everyone. Perseverance - We are committed to People and communities for th8 long term. and wlll give s6cond, third and fourth chances. Llfe - We will work to enable 'life in all its fullness, to b6 a reality for those we work with. Our organisalion is comprised of staff and volunteers from all faiths and none, but all our staff understand and sympalhise 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 commitled lo both Ihe transformation of communities and lo the inclusion of ev8ry parson in that process. It is because of our Chrislian ethos. not in spite of it. that in all that we do Oasis Community Housing will: Serv8 and respect all people regardless of their age. dlsabillly, gender, race, elhnlc orlgin, religion or beliefs, pregnancy or maternity status, marital or civil partnership status, sexual orienlalion, physical and mental capacity. Acknowledge the freedom of people of all failhs and none lo both hold and to express their beliefs and convictions respectfully and freely, within the limits of the UK law. Never impose its Chrislian faith or belief on others. Oasls Community Houslng's Strategy Oasis Community Housing believes Ihal by delivering S8IceS 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 final year of our 3-y8ar organisalional stralegy, the objectives of which are.. Our Growth.. To have a substantial range of all of our activities in at least four English regions Our Leadership.. To be sought out as a valued and respected homelessness charity by key stakeholders in the Church, local aulhorily, housing associations, government departments and the wider sector Our Ethos.. To ensLrre that our Chrisl-Gentred 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 Our Sustalnablllty.. To be a financially resilient organisation with a sustainable and mixed income stream Our Team: To ensure we hav& the right people. processes and tools to support these straleglc objectives Our assessment at the end of the third year Is that in all objectives we have made good progr8ss across all five objectives. Although, some objectives naturally have not come to fruition, this is mainly due to a change in focus by the charity. Strategy evolves and responds to emerging opportunities and challenges. Thus, some objectives included in the existing strategy may have become less relevant andlor applicable and new ones have emerged. Nonetheless. we have delivered in the following areas: Our Growth: We have activities in five English regions
Oasis Aquila Housing Ltd (Trading as Oasis Community Housing- A company limited by guarantee) Report of the Trustee5 For the year ended 31 August 2024 Our Leadership.. We have further developed our trauma campaign and are sought oul as a recognised partner in this area. We have good relalionships across local authorities, housing associations and with wider sector through Homeless Link. Our Ethos.. We have continued lo develop our Christ-cenlred elhos and values, particularly through the work of our Director of Chaplaincy and through the lenders we submit. Our Sustalnabllity.. We have grown our unreslricted income and Gapacity in this area and aim to further develop this in our new strategy. Our Team.. We have undertaken a large amount of work to ensure that we have tha right paople, in the right place, doing the right thing. 2024.27 Strategy Our 2024-27 Strategy was developed during the year, however, our Chief Execulive, David Smith, was elected to Parliament in the July election and Iherefore, the formal implementation of the full new strategy has been placed on hold until a new permanent Chief Executive is in post. The Board approved a drafl slrategy for Oasis Community Housing lo follow at the Board Meeting on 11 July 2024 to include the following objectives: 1) Insplr8 and Influence change wlthln the homelessness system - We will become 8 leading example of best practice and continuous improvement within the hom8lessn8ss sector, advocating for our approach and using the voices of both our staff and those we serve, in order to change th8 homelessness system for the good of the people we s8rve. 2) Alm to grow the number of people whom we are supportlng through our person.centred approach by 50 /0 and enable more of them to move on and contribute lo flourlshlng community - We will bring a slep-change lo the scale of our work in order to do our part to tackle homelessness where we work. 3) Develop the flnanclal sustainability of the charlty We will take aclion to ensure that the sources of income which fund our work are more varied and have signtficanlly greater longevily in 2027 than in 2024. RESOURCING AND SUPPORTING OUR WORK During 2023-24 we refocused our Business D8v8lopmenl Unil into a Fundraising and Communications T8am. Th@ team continued to work hard to secure bolh Unrestricted Income (URI) and Restricled Income (Rl). Our ov8rall performance on URI, continued to be strong in challenging circumstances as we secured £253,950 (2023.. £262,090) that was directly attributed to our fundraising activity in the year. Our overall unrestricted Income (excluding rental & contract income) was £292.562 {2023: £301.697). How8V8r, we must also set these achievements against the ambitious growth targets that we were unable lo meet in the year- especially our £500k URI target. Meeling this largel was largely dependent upon us being able to build our fundraising capacity in the Soulh East in order lo lap into potential new income streams and supporters. Through a restructure of the Fundraising and Communications Team. we recruited a Philanthropy and Partnerships Manager who has a particular focus on the South East, however, we are unlikely lo see the fruits of this new post until well into 2024-25. Nevertheless, many of our fundralslng products and initiatives. had landmark years. For Instance, our annual Giving a Home Christmas fundralsing campaign raised over £120k, the largest sum we have ever achieved in 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. We also developed crucial new partnerships with local businesses in the North East. 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 supportèrs and thal our investment in fundraising remains the correct approach. Our Fundralslng Standards We are members of the Chartered Institute of Fundraising and signatories to their Code of Fundraislng Practice. Amongst other things, this means that any communications to the public made in the course of carrying oul fundraising activity shall be truthful and reflect our ethos and values. that our appeals will slate whether funds raised are for general funds or a specific purpose, and Ihat all money raised via fundraising activities will be for th8 stated purpose of the appeal and will comply vrilh the organisation's staled mission and purpose. Vvhere fundraising is carried oul on our behalf. il is done $0 by wrporate volunteers or church and community groups. In order to 5UPPOrt this process and maintain our standards. we employ slaff to work closely with these
Oasis Aqulla Housing Ltd (Trading as Oasi5 Community Housing- A company limited by guarantee) Report of the Trustees For the year ended 31 August 2024 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 lo be given away or disclosed to any third party without consent, and complies fully wilh GDPR standards. Nobody directly or indirectly employed by or volunteering for OCH accept commissions. bonuses or payments for fundraising aclivilies on behalf of the organisallon, and no general solicilalions are undertaken by lelaphone or door-to-door. We have had no fundraising complaints in the last financial year, however If someone wants to make a complalnt about our fundraising, we will tell them about our complaints procedure and provide it to them in writing upon request.
Oasis Aquila Housing Ltd (Trading as Oasis Community Housing- A company limited by guarantee) Report of the Trustees For the year ended 31 August 2024 FINANCIAL REVIEW In addition to the work of our Fundraising and Communications Team 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 contract for emergency supported accommodation in HoLtghton-le-Spring and various conlfacts for Multiple and Complex Needs in Gateshead and South Tyneside. We also tèndered for. and won, contracts for the Young Person's supporled accommodation services in Gateshead. These new contracts will be mobillsed during the spring of 2025, with the new servlces being delivered from June 2025. We also continue to receive a large proportion of our income from Housing Benefit and rent.. £1,893,74812023', £1,765,791 }. Our financial results are shown on page 15. Incoming resources tolalled £4,743,863 (2023.. £4,516.0901 of which £1,378,37012023: £1 ,350.3431 related to restricted funding for specific projects. Resources expended tolalled £4,470,71012023: £4.622.040). Overall, we have a surplus In the year of £273.154. (2023: surplus of £104.062). General unreslrict8d reserves are showlng as £584,484 (2023.. £457,442). Net assets carried forward at the year4nd are £3,384,82212023: £3,111,668). This year there was a net surplus on restricted income of £195,698 (2023: surplus £94,341). These fluctuations largely reflect the timing of receipts from some of our funders who either make mulli-year grants or within the framework of the UK Financial Year. This means Ihal we record expenditure for some grants in th8 current year, bul income from the grant{s) in previous financial years and vice versa. Our unrestricted reserves increased by £127,042 during the year. whilst this still falls short of what our policy requires, we continue to work towards increasing ihem. Reserves pollcy The Board has a target for our cash reserves which we believe is adequale for ensuring sufficient cash flow for the charity and to meet all our obligations. The Board have set the reserves level to aim for al £700,000, being 3 months budgeted staff costs, non-residential rent, rates and loan repayments. At the end of the year unrestricted reserves were £584.484 being 2.5 months of these Costs. Whilst we are not yel al our cash r8serves larg8t 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 abl8 to lake the decision to sell some of our properties to provide the funds required and our reserves policy acknowledges this additional form of capital the charity has access to. Al the end of the financial year, we held designated funds of £2.057.725 {2023'. £2,107,311) including a revaluation reserve of £470,733 (2023: £470.733) details of which can be found in Note 17. Details of other designaled funds can also be found in this note.
Oasis Aqulla Houslng Ltd (Trading as Oasis Community Housing- A company limited by guarantee) Report of the Trustees For the year ended 31 August 2024 REFERENCE AND ADMINISTRATIVE DETAILS Registered company number: Registered charily number: Registered office: 05300083 (England and Wales) 1107554 FL 14, 7-8 Delta Bank Road, Metro Riverside Park. Gateshead, NE119DJ Advlsors Auditors: CLA Evelyn Partners. 17 Queens Lane. Newcastle upon Tyne, NE11 RN Solicitors: Ward Hadaway, Sandgate House. 102 Quayslde. Newcastle upon Tyne. NE1 3DX Bankers: Unity Trust Bank pl¢. Four Brindley place, Birmingham, B12JB Triodos Bank, Deanery Road, Bristol, BS1 SAS Ecology Building Sociaty, 7 Balton Way, Silsden. Keighl8y, BD20 OEE Nationwide Bulldlng Society. Kings Park Road, Moulton Park. Northampton, NN3 6NW The Charity Bank Llmited. Fosse House, 182 High Street. Tonbrldge, TN9 1 BE Directors and Trustees The directors of the charitable company are its trustees for the purpose of charily law. The truslees and officers serving during the year and since the year end were as follows.. NW Salisbury BA (Honsl ACIB Appointed April 2014 (Chair from 07 July 2021 > K Ginks BA (Hons) PG Dip MRICS Appointed November 2015 Bishop M Bryant 8A (Hons) Appointed 22nd January 2018 A Morris BEng {Honsl CIMA Appointed November 2018 A Griffilhs PhD, MA & BA (Hons) Appointed 26 January 2022 W Wailhaka MBA CIMA Appolnted 26 January 2022 S Coles Bsc MBA DIC FRSA Appolnted 4 October 2024 J Wood Appointed 4 October 2024 Trustees who stepped down durlng Ihe perlod R Tierney BA (Hons) Appointed 26 January 2022, stood down 19 Seplember 2023 F Bowman, MBA CIWFM FCMI Appointed 03 August 2021, stood down 9 May 2024 J Norton BA (Hons) Appointed 26 January 2022, slood down 12 July 2024 Key management personnel The key management personnel are the non-executive directors of the organisation, who are r8sponsibl8 for the day-to-day management of the charily's a¢livilies'. Chief Executive Offi¢er'. D W Smith MA (Hons). MPhil. commenced in post September 2016, left 11 July 2024 Chief Operating Officer: S Lister BA (Hons). FCA, commenced in post June 2018, became Acting Chief Executive Officer 8 July 2024 Director of Chaplaincy.. P Conn, changed role from September 2022 Director of Programmes.. C Wood, commenced in post September 2022, left 19 July 2024 Director of Housing.. J Gauden-Hand (LLB). commenced in post April 2014
Oasis Aquila Housing Ltd (Trading as Oasis Community Housing- A company limited by guarantee) Report of the Trustees For the year ended 31 August 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing documenl The charily is controlled by its governing documents, a deed of trusl, 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 {Irading as Oasis Community Housing slnce September 2018) is a charitable company limited by guaranleo, incorporated on 30 November 2004 and registered as a charity on 11 January 2005. The company was established under a Mamorandum 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 conlribute an amount not exceeding £10. Recruitmenl and appolntment of Board The directors of the company are also the trustees under charity law. Under the r8quir8ments of the M8morandum and Articles of Association the trustees are elected lo serve for a period of three years after which they can be re- 81ecled 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 ofAssoGiation. Truslee induction and training Most Irustees are already familiar with the practical work of the charity. Additionally, new trustees are invited and encouraged lo allend a series of short meetings with the Chief Executive Officer, Chair and Senior Management lo familiarise themselves wilh the charity and the context within which It operates. These cover., The obligations with th8 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 Authorlty The trustees are responsible for the strategic direclion and policy of the charity. At presenl we have eight Iruslees from a variety of professional backgrounds relevant lo the work of the charity. A schemo of delegation is in place and day to day responsibility for the provlslon of the services rests with the Chief Executive (CEO) along with the Executive Team of Directors. The CEO is responsible for ensuring thal the charity delivers on the Charitable Objects, vision and mission of the charity, including through the selting of time-bound strategies that turn these into tangible objectives. The Chief Operating Offlcgr {COO) lak8s a18ad on the strategic development of the finance and support servlces of Oasis Communlly Housing, ensuring we have the right policies, process8s, compliance and fesourc8S that we need in order to deliver the highest quality support to both our slaff and those we empower through our frontline services. In addition, Ihe COO is also responsible for the day to day operations of the charily. 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 tha strategic development of our Crisis Services, Employabilily and Domestic Abuse Programme5 and ensuring the day to day operational management of these is effective. Bolh are responsible for ensuring that their respective projecl teams are supervised and supported and ensuring that the teams continually develop their skills and working praclices 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 Regislered Charity number 1026487. The relalionship is governed by an Intra-Group Agreement. N Salisbury is a director of OCT in addition to Oasis Community Housing. Pay policy
Oasls Aquila Houslng Ltd (Trading as Oasis Community Housing - A company limited by guarantee) Report of the Trustees For the year ended 31 August 2024 The pay of the Chief Executive is set by the Board. The Board of Trustees hold an annual remuneration sub- comrnillee 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 lo bolh inftationary pressures brought on by the Cost of Living crisis, and in the light of increases to the Roal Living Wago. The pay of the Chief Executive is benchmarked with charities of comparable scale and reach and approved by the Oasis Community Hotjsing HR & Remuneration subcommittee. Rlsk management The Board reviews the risks faced by the charity on a quarterly basis, mainlaining a risk register of the major risks faced by the charity and the strategies in place to manage the risk effeclively. The greatesl risks faced by the charity currently are financial risks and risks relating lo the characteristics of the clients. Funding streams are monitored closely by the trustees al 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 lo DBS procedures and lon8 working strategies are In plac8 and regularly r8viewed to ensure the safety of staff and servlce users. During the period the Safeguarding. Health & Safety Subcommitte8 has met three times to provlde governance oversight of all Safeguarding activity throughout the charity. This ensures that the Safeguarding of children and vulnerable adults remains a key priorily in Ihe 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-lo-day operational focus that the senior leadership of the staff have on both health & safety and safeguarding. Our Health & Safety Officer keep5 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 wilhin their own project lo ensure bolh authorily and accountability. In 2023-24 we received an external Health & Safely Audit lo obtain an external perspective, and we have been implementing the recommendations over the past 9 months. 10
Oasis Aqulla Housing Ltd (Trading as Oasis Community Housing- A company limited by guarantee) Report of the Trustees For the year ended 31 August 2024 STATEMENT OF DIRECTORS, RESPONSIBILITIES The trustees (who are also directors of Oasis Communily 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 AGGounting 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 slate of affairs of th8 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 lo- select suitable accounting policies and then apply Ihem consistently- observe the methods and principles in the Charities SORP: make judgements and estimates Ihat are reasonable and prudent., slate whether applicable UK Accounting Standards have been followed, subject to any malerlal departur8S disclosed and explain8d in the financial statements- prepare the financial statements on a going concern basis unless it is inappropriate to presum8 that the charilable company will continue in operation. The Directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any lime the financial position of the ¢harilabl8 company and 8nable them to ensure that the financial slat8menls comply with the Companies Act 2006. They are also responsible for safeguarding Ihe 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: there is no relevant audit Information of which the charitable company's auditors are unaware, and the Directors have taken all steps Ihal Ihey ought lo have taken to make Ihemselv8s aware of any relevant audit information and to establish Ihat the auditors are aware of that information. Audltors In accordance with the compelitiv8 tender undertaken in 2022 CLA Evelyn Partners were reappointed as auditors. Thls report was approved by the Irustees on 11.10.71 2fand signed on their behalf, by: v(LJ N W Salisbury BA (Hons) ACIB Chair
Oasls Aquila Housing Ltd {Tradlng 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 2024 Opinion We have audited the financial stalements of Oasis Aquila Housing Limited (the 'charitable company,) for the year ended 31 August 2024 which comprise Ihe Statement of Financial Activities. Ihe 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 Accounling Standards. including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Ropublic of Ireland (United Kingdom Generally Accepted Accounting Praclice). In our opinion the financial stalemenls: give a true and fair vi8w of the stale of the charitable company's affairs as al 31 August 2024, and of ils Incoming resources and application of resources, including its income and expenditure, for the year then ended., have been properly prepared in accordance wilh United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance wilh the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit In accordance wlth Intemational Standards on Auditing {UK> (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in th8 auditor responsibilities for the audit of the financial statements sectlon of our report. We are indep8ndent of the charitable company in accordance with the ethical requirement5 Ihat are relevant to our audit of the financial statements in Ihe 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. Concluslons relatln9 to going con¢ern In auditing the financial slalements, we have concluded thal the trustees, use of the 90ing concern basis of accounting in the preparation of the financial statements is appropriate. Based on th8 work we have performed. we have not identified any material uncerlainties relating to events or conditions that, individually or collectively, may cast significant doubl on the charitable company's ability to continue as a going concern for a period of al least twelve months from when the financlal statements are aulhorised for issue. Our responsibililies and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this report. Other informatlon The other information comprises the information included in the trustees annual report, other than the financial slalements and our auditor's report Ihereon. The Iruslees are responsible for Ihe other information contained wilhin the annual report. Our opinion on the financial slalements does not cover the other information and, except to the extent otherwise 8xplicilly stated in our report, W8 do not express any form of assurance conclusion thereon. Our responsibllity is lo read the other information and. in doing so, consider whether the other information is materially inconsistent with the financial stalemenls or our knowledge obtained in the course of lh8 audit Of olh8rwise appears to be malerially misstated. If we identify such material inconsistencies or apparent materlal misstat8ments, we are required to determine whether this gives rise lo a malerlal misstatement In the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this olh8r information, we are required to report that fact. We have nothing to report in this regard. Oplnions on other malters prescribèd 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 statemenls., and the directors. report has been prepared in accordance with applicable legal requirements. 12
Oasis Aqulla Housing Ltd (Trading as Oasis Community Housing- A company limited by guarantee) Independent Auditors, Report to the members of Oasls Aquila Housing Ltd For the year ended 31 August 2024 Matters on which we are requlred lo report by exception In the light of the knowledge and understanding of the charitable company and its envirorlment obtained in Ihe course of the audit, we have nol identified material misstatements in the directors, report. We have nothing lo report in respect of the following mallers in relation to which the Companies Acl 2006 requires us to report lo you if, in our opinion: adequate accounting records have not been kepl, or returns adequate for our audit hav8 not been receiv8d from branches not visited by us., or the financial statements are not in agreement wilh tho accounling records and relurns. or certain disclosures of directors, remuneration specified by law are not made.. or we have not reGelved all the information and explanations we require for our audit; or the Iruslees were not enlilled to prepare the financial slalernents 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 slrategic report. Responslbllltles of trusteas As explained more fully in th8 trustees, responsibllilies statement. th8 trust8es (who are also the directors of the charltable Gompany for the purposes of company law) are responsibl8 for th8 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 determlne Is necessary to enable the preparation of financial slatemenls that are free from material misslatemenl, 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, mallers related 10 90ing concern and using the going concern basis of accounting unless the trustees either intend lo liquidate the charitable company or lo cease operations, or have no realistic alternative bul lo do so. Audltor responslbllltles for the audit of the financlal statèmants Our objecliv8s are to obtain reasonable assuranc8 about whether the financial statements as a whole are free from material misslalement, whether due lo fraud or error, and to issue an auditor's r8POrt that includes our opinion. Reasonable assurance is a high level of assurance. but Is nol a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstalement when il exists. Misstalem8nls can arise from fraud or error and are considered material if, individually or in Ihe aggregale, they could reasonably be expected lo influence the economic decisions of users taken on Ihe basis of these financial stalemenls. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We deslgn procedures in line with our responsibilities, outlined above. to detect material misstatements in respect of irregularities, including fraud. The extent lo which our procedures are capable of detecting irregularities, including fraud is detailed below.. We obtained an understanding of the legal and regulatory framework applicable lo the charitable company itself and the industry in which il operates. We identified areas of laws and regulalions that could reasonably be expected lo have a material effect on the financial slalemenls from our sector experience and through discussion wilh the directors and other management. The most significant were identified as the Charities Act 2011, the Companies Act 2006, UK GAAP (FRS 102} and rel8vanl lax legislation. We considered the ext&nt of compliance with those laws and regulations as part of our audit procedures on the related financial slatemgnls. Our audlt procedures included.. confirming with the trustees and management whether they have any knowledge or susplclon of fraud; obtaining an underslanding of the internal controls established lo mitigate risks related to fraud or non- compliance with laws and regulations; assessing the risk of management override of contro15. including lesting a sample of journal entries.. obtaining confirmation directly from the banks to verify the balance as al the last day of the accounling year., reviewing minutes of those charged with governanGe', and. challenging the assumptions and judgemenls 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.. hll s'.Ilwww.frc.or .uk/auditorslaudit-assurancelaudilor-s-res onsibililies-for-Ihe-audil-ol-Ihe-fildescrl lion-of- Ihe-auditor/oE2 %80 /099s-res onsibililies-for This description fomis part of our auditor's report. 13
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 2024
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 CLA Evelyn Partners Chartered Accountants and Statutory Auditors
6 March 2025 17 Queens Lane Newcastle upon Tyne NE1 1 RN
14
Oasls Aquila Housing Ltd (Tradlng as Oasis Community Housing- A Company limited by Euarantee) Statement of Financial Activities For the year ended 31 August 2024 Unrestricted Unrestricted Designated Funds Funds Restricted Funds Total 2024 Total 2023 Note5 Income: Donations Grants Charitable Activities Rental Income Contract Income Other Income Investment income Other trading activities Fundraising 138,856 37,292 20,779 1.357,591 159,635 1,394,883 213,723 1,339,872 1,893,748 1,167,978 6,571 19,029 1.893,748 1.167,978 6,571 19,029 1,765,791 1,098,259 15,725 3,484 102,019 102,019 79,236 3,365,493 1.378,370 4,743,863 4.516,090 Expendlture.. Raising funds Charitable activitles Loss on revaluation 303.153 2,934.697 3,061,726 1,182,672 303.153 4.167.556 281,061 4,340,517 462 50,187 17 3.237.850 50,187 1,182,672 4.470.709 4,622,040 Net Incomellexpend5ture> 127,643 (50,187) 195,698 273.154 (105,950) Transfers beeen funds 17 (601) 601 Other recognls8d galns Gains on revaluation of fixed assets 210,012 Net movement In fund$ 127,042 (49,586) 195,698 273,154 104,062 Reconclliatlon of funds Total funds brought forward 457,442 2,107.311 546,915 3.111,668 3,007,606 Total funds carrled forward 584,484 2.057.725 742,613 3.384.822 3,111,668 The Statement of Financial Activities includes all gains and losses recognised in the year. All Incomlng resources and resources expended derive from continuing activilles. 15
Oasls Aquila Housing Ltd {Trading as Oasis Community Housing- A company limited by Euaranteel Balance Sheet As at 31 August 2024 Unrestricted Restricted Funds Funds Total 2024 Total 2023 Notes Fixed Assets: Tangible assets 13 2.603,336 2,603.336 2.648,717 Current Assets Debtors Cash at bank and in hand 14 622,251 418,012 179,618 562,995 801.869 981,007 363,474 1,088,601 1.040,263 742,613 1,782,876 1,452,075 Liabilities: Creditors.. Amounts falling due within one year 15 (478,953) {478.953) 1466.086) Nel Current assèts 561.310 742,613 1,303,923 985,989 Total assets less current Ilabilltles 3,164.646 742,613 3,907,259 3,634,706 Creditors.. Amounts falling due after more than one year 16 (522,437) (522,437) {523,038) Net assets 2,642.209 742,613 3.384,822 3,111,668 The funds of the charity: Unrestricted funds.. Gen8ral fund Designated funds 584,484 2.057,725 457,442 2,107,311 2.642,209 742,613 2,564,753 546,915 Restricted funds Total Funds 17 3,384,822 3,111,668 These financial statements have been prepar8d in accordance with th8 provisions applicable to companies subject to Ihe small companies regime. ed by the Board of Trustees on ..lI.1.l2%nd slgned on their behalf by: Appro N W Salisbury BA {Hons) Chair IB Company Number.. 05300083 The notes on pages 17 to 29 fomi part of these financial stalements. 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 2024 Accountlng policies Basis of preparation The financial slalemenls have been prepared in accordance wilh Accounting and Reporting by Charities.. Slalement 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) iSSLted in October 2019. the Financial Reporting Standard applicable in the United Kingdom and Republic of Iraland IFRS 102), the Charities Act 2011, Ihe Companies Act 2006 and UK Generally Accepted Practice. Oasls Aqulla Housing Ltd meets the definltlon of a public benefit under FRS 102. The financial statomenls are prepared under the historical cost convention or transaction value unless otherwise slated in the relevant accounting policy nolels). The financial statements are prepared in Sterling which is the functional currency of th6 charity and rounded to the nearest £. The significant acLounling policies applied in the preparation of these financial statemenls are set out below. These policies have been consistently applied to all years presented unless otherwise slated. Golng concern The financial slalements hav8 been prepared on a going concern basls, which th8 trustees believe Is posslble based on their cash flow forecasls and projections. This includes stress testing th8 finances of the business to account for severe bul plausible downside scenarios such as the non-renewal of certain contracts. The Iruslees have considered the level of funds held and the expected level of income and expenditure for al least 12 months from aulhorising these financial stalemenls. 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 budgels and Ihe cash flow forecasts prepared the trustees consider that the charity has sufficient reserves in place lo be able to conlinue as a 90ing concern. Funds Unreslrict8d funds are available for use al the discretion of the trustees in furtherance of the general objectives of the charltable company and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been sel aside by th8 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 lunds which are lo 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 adminislering 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. Incomlng resources All incoming resources are Included in the Slatement of Financlal Activities when the charity has enlillemenl lo the funds, any performance conditions hav8 been mel. the amount can be measured reliably and it is probablo that the income will be received. Donations are recognised when receivable Grant in¢ome is recognised where there is entitlement, receipt of the funds are probable and the amount can be measured with reasonable c8rtainty. If the are conditions attached lo the grant and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully mgt or the fuifilment of those conditions is within tha control of the charity and it Is probable that th8y will be fulfilled. Income from charitable activities includes income received under contract and rental income. Contract income is subject lo specific performance conditions and is recognised as earned. Income received to deliver services over a specific period covering more than one financial year is accounled 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 eamed through holding assets on deposit. 17
Oasls Aqulla Houslng Ltd (Trading as Oasi5 Community Housing - A company limited by guarantee) Notes to the flnancial statements For the year ended 31 August 2024 In accordance with the Charities SORP (FRS 102), the general volunteer lime is not recognised, refer to the trustees rèport for more information about their contribution. 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 seltlement will be required and th8 amount of the obligation can be measured reliably. Irrecoverable VAT is charged againsl the cost in which the expenditure was incurred. Support cost allocation Support costs are those that assist the work of the charity but do not directly represenl 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 charily. Tanglble flxed assets Tangible fixed assets are stated at cost (or de8m8d cost) except fully owned freehold & long leasehold propertles which ar8 at valuatlon, less accumulated deprecialion and accumulated impairment losses. Depreciation is provided on all assets at rates calculated to write off the cost or valuation, less eslimaled residual value, over their eslimaled useful economic lives as follows: Freehold property Freehold property - part owned Long leasehold Leasehold improvements Motor vehicles Computer and fixtures Valuation and 2% straight line Cost and 2¥0 Straight line Valuation and 20/0 straight line Cost and 330/0 Straight lin8 Cost and 250/• Straight line Cost and 33% straight line The assets residual values and useful life are reviewed. and adjusted as appropriale, at the end of each reporting period. The effect of any change is accounted for prospectively. Debtors Trade and other debtors ar8 recognised at the settlement amount due aft8r eny trade dlscount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 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 or18ss from the date of acquisition or op8ning of the deposit or similar account. 1.10 Crgdltors and provlslons Creditors and provisions are recognised where the charity has a psent 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 Flnanclal Instruments The charity only has financial assets and financial liabilities of a kind that qualify as baslc financial Instruments. Basic financial instruments are initially CogniSed 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 melhod. 1.12 Penslons The charitable company contributes to ils parent company's defined contribution pension scheme for employees. The annual contributions payable are charged to the Statement of Financial Activities. 18
Oasis Aquila Housing Ltd (Trading as Oasis Community Housing- A company limited by Euarantee) Notes to the financial statements For the year ended 31 August 2024 1.13 Tax The charily is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered lo pass the tests sel out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation lax purposes. 1.14 Exemptlon from preparlng a cash flow statement Exemption has been taken from preparing a cash flow statèments on tha grounds that the charity is included in a set of consolidated accounts. Legal status Oasis Aquila Housing Ltd is a company limited by guaranlee (No 05300083> and not having a share capital. In the event of the company being wound up, the liabilily in respect of the guarantee is limited to £10 per member of the charity. 19
Oasis Aquila Housing Ltd {Trading a5 Oasis Community Housing- A company limited by guarantee) Notes to the flnanclal 5tatement5 For the year ended 31 August 2024 Comparatlve Statement of Flnan¢ial Actlvities Unrestricted Unrestrlcted Designated Funds Funds Restricled Funds Total 2023 Total 2022 Not•s Income: Donations Grants Charilable Activities Rental Income Contract Income Other Income Investment income Other trading activities Fundraising Other 182,854 20,398 30,869 1,319,474 213,723 1,339.872 150,174 1,160,966 1.765,791 1.098,259 15,725 3.484 1,765,791 1,098,259 15.725 3.484 1,806,167 1,069,609 30,525 1,232 79.236 79.236 52.045 13 3,165.747 1,350,343 4,516,090 4,270,731 Expendlturo: Raising funds Charitable activities Loss on revaluation 281,061 3,011,675 281,061 4,340.517 462 229,448 4,165,896 72,840 462 1,256,002 17 3,292.736 73,302 1,256.002 4,622.040 4,395.344 Nel Incomel{6xpendlture) (126.989) (73,302) 94.341 (105.950) {124,613) Transfers between funds 17 8,989 (8.989) other recognlsed galns Gains on revaluation of fixed assets 210,012 210,012 47,050 Net movomenl In funds (118.000) 127.721 94.341 104,062 {77.563) Recon¢lllatlon of funds Total funds brought forward 575,442 1,979.590 452.574 3,007,606 3,085,169 Total funds carrled forward 457,442 2,107.311 546,915 3.111,668 3.007.606 The Statement of Flnancial Activities includes all gains and losses recognised in the year. All incoming resources and resources expended derive from continuing activities. 20
Oasls Aqulla Housing Ltd (Trading as Oasis Community Housing- A company limited by guarantee) Notes to the financial statements For the year ended 31 August 2024 Donations & grants 2024 2023 Donations Grants 159,635 1,394,883 213,723 1,339,872 1.554,518 1,553,595 All donations are generated through the Fundraising and Communications Team. Analysls of grants 2024 2023 Barbour Benefact Trust Blg Give Community Foundallon Tyne & Wear & Northumberland (Linden Family Fund) Community Foundation Tyne & Wear & Northumberland (P&G Fund) Durham County- Community Foundation Durham Counly Council (MHCLG> Garfield Weston Foundation Galeshead Council Gateshead Council (Financial Capability) Gateshead Council IMHCLG) Gateshead Council (Safer Streets) Gatashead Council (Wellbeing Works) Hospital of God at Grealham Grassroots Harry Curelon Fund Heart of England Community Foundation Jack Petchy Foundation Julia and Hans Rausing Trust Landaid Charilable Trust Leeds Building Society National Lottery Community Fund {BBO Moving On Tyne & Wear) National Lottery Community Fund IBBO Wise Steps) National Lottery Community Fund (Help though Grisisl National Lottery Community Fund (Reaching Communltles- Gateshead) National Lottery Communlty Fund (Reaching Communities - Sunderland) North East Ar8a Miners Social Welfare Trust Fund North East Probalion Service Northumberland Estates Northumbria Police & Crim8 Commissioner Northumbria Police & Crime Commissioner (MOJ DAJSV Community Fund) Northumbria Police & Crime Commissioner (Supporting Victims Fund) Ofsted GMBC Granl SafeLives (The Circle Fund) Screwfix Foundation Sir James Knotl Trust Social Bite Souter Charitable Trust 10.000 25,500 15,000 10,000 5,000 6,000 293,683 20.000 10,165 20.000 10.000 658,479 275,599 20.833 10,000 1,000 10.000 4,500 10,000 1,800 2,760 7,183 21,650 45,766 48.582 17.481 5,600 74,234 20.000 100.000 100,000 33,000 1,000 10,000 5,000 1,000 45,000 51,684 17,883 2.000 57,200 47,500 5,000 20,000 5,800 1,000 20.000 3,000 21
Oasis Aqulla Housing Ltd (Trading as Oa515 Community Hou5ing- A company limited by guarantee) Notes to the flnancial statements For the year ended 31 August 2024 Analysis of grants (continued) South Tyneside Counci5 Stewardship (Thompson Fund) Sunderland City Council (MHCLG) Sunderland City Council (Oulreach) Tesco Community Grant5 The Charity of Sir Rlchard Whitlingham The Virgin Money Foundation WA Handley Charity Trust Other 9.350 5,000 74,795 5,000 1,375 33,334 2,000 1,000 102,479 117,473 162,962 33.333 54.783 1,394.883 1.394,884 Income from charltable actlvltlgs 2024 2023 Home Basis 2,954,140 114,157 2,818,950 60,825 3,068,297 2,879,775 Income from inv8Stm8nts All of the charitable company's investment income arises from the money held in inlerest bearing deposit accounts. Expendlture on charltable actlvltles Dlrect Costs Support Costs 2024 2023 Home Basis Empower Aspire 2,316,374 843,688 115,795 51.932 469.454 306,357 44,216 19,740 2.785,828 1,150,045 160,011 71,672 2,846,683 1,127,576 157.912 208,346 3.327.789 839,767 4,167,556 4,340,517 Support costs above Include Govemance costs as shown below 2024 2023 Home Basis Empower Aspire 27.264 19,922 2.875 1.284 28,369 19,908 2,931 4,092 51.345 55.301 Expendlture on fundralslng 2024 2023 Staff costs Event & olher costs 214,743 88,410 192,618 88.443 303,153 281.061 22
Oasis Aquila Housing Ltd (Trading a5 Oasis Community Hou5inE - A company limited by guarantee) Notes to the financial statements For the year ended 31 August 2024 Allocatlon of support costs Office premises Office runnlng Staff Total Home Basis Empower Aspira 269,726 194,090 28.446 12,699 87,206 24,858 3,588 1.602 115.520 84,410 12,183 5,439 472,452 303,358 44,217 19,740 504,961 117,254 217,552 839,767 As the charity's activities are primarily staff based the support costs have been allocated in line with staff costs. Governance costs 2024 2023 staff costs Office runnlng Recrullment Audit 42.858 1.647 44,042 4.419 6,840 6,840 51,345 55,301 10. Net Incomel(expendlture) for the year This is staled after charging: 2024 2023 Depreciation of tangible fixed assets owned by the charlty.. Depreciation of No3 Cerise Road Depreciation of Revalued Properties Loan interest paid 2,404 51,619 50,187 43,315 47.050 34.234 Audltors remuneration 2024 2023 Fees payable to the charity's auditors for the audit of th8 annual accounts 7,800 6,840 12. Analysls of staff costs, trustee remuneratlon and expenses, and the cost of key management personnel. Staff costs Were as follows: 2024 2023 Wages and salaries Social security costs Other pension costs 2,234,653 179.802 133,921 2,192,034 186,753 145,176 2.548,376 2,523,963 23
Oasis Aqulla Housing Ltd (Trading as Oasi5 Community Housing- A company limited by guarantee) Notes to the financial statements For the year ended 31 August 2024 The average monthly number of employees during the year was as follows: 2024 Number 2023 Number Chief Executive Project staff Adminislralion and support 73 22 73 22 96 96 One member of staff received remuneration in excess of £60,000 (2023 - None). The charity trustees were nol paid or received any other benefits from employment In the year {2023 - £nil). No charity trustee r8ceived payment for professional or olher services supplied to the charity (2023 - £nil). During the year 2 trustees were reimbursed £687 for expenses {2023- £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 £247,651 (2023 - £253,726). 13. Tanglble fixed assels Freehold part. Long Computers owngd leasehold & Ilxtures Freehold property Total Cost At 1 September 2023 2.125,002 Additions Disposals Revaluation 156,850 390,000 2,671,852 7,210 7,210 At 31 August 2024 2,125,002 156,850 390,000 7,210 2,679,062 Depreclatlon Al 1 September 2023 Charge for year Disposals Revaluation 23.135 3.137 23,135 52,591 38.850 8.200 2,404 Al 31 August 2024 38.850 26,272 8,200 2,404 75,726 Net book value Al 31 August 2024 2,086,152 130,578 381,800 4,806 2.603.336 At 31 August 2023 2,125,002 133.715 390,000 2.648.717 The part owned property is a property in which Oasis Aquila Housing has an equity interest of 49.660 24
Oasis Aquila Housing Ltd {Trading as Oasis Community Housing- A company limited by guarantee) Note5 to the financial statements For the year ended 31 August 2024 In respect of the assets slated at valuations the comparable historical cost and depreciation are as follows Freehold Long Property Leasehold Total 2024 Cost At 1 September 2023 Additions Disposals 1,688,928 529.390 2,218,318 Al 31 August 2024 1,688,928 529,390 2.218.318 Depreciation Al 1 September 2023 Charge for year Disposals 378,324 33,870 89,411 10.616 467,735 44,486 At 31 August 2024 412,194 100,027 512,221 Nel book value At 31 August 2024 1.276,734 429,363 1,706.097 At 31 August 2023 1.310,604 439,979 1,750,583 Fully owned freehold and leasehold properties We valued in August 2023 by McGillivrays Chartered Surveyors and Bradley Hall Chartered Surveyors. 14. Debtors 2024 2023 Trade debtors Other debtors Prepaymenls & accrued income 532,211 3.714 265.944 124,791 7,948 230,735 801,869 363,474 15. Credllors: amounts falllng due wlthln one year 2024 2023 Bank loans Trade creditors Social security and other taxes Other creditors Accruals and deferred income 43,162 108,056 39,495 121,574 166,666 43,162 121,87 44,251 98,966 133,540 478,953 441,796 Deferred Income comprises contracts relating to future periods. Balance at 1 September 2023 Amounts released to income earned from charitable activities Amounts deferred in the year 76,621 (76,621> 54,771 Balance at 31 Augusl 2024 54,771 25
Oasis Aquila Housing Ltd (Trading as Oasis Community Housing- A company limited by guarantee) Note5 to the financlal statements For the year ended 31 August 2024 16. Creditors: amounts falling due after more than one year 2024 2023 Bank loans 522,437 523,038 Bank loans are analysed as follows: Due within 1 year Due within 1-2 years Due within 2-5 years Due after more than 5 years 43.162 43,162 479.275 43,162 43,162 479,876 565,599 566,200 The bank loan is secured by way of a legal charge over part of the properly portfolio. The repayments are spread over 25 years but the remaining balance is fully repayable after 10 years {August 2026). Interest is payable at 2.250/0 abov8 base rate on the principal amount. 17. Fund reconclllatlon Year ended 31 Au ust 2024 Balance at 1 Sept 2023 In¢omlng Resourcos Resources expended Galnl Balance at 10$$ 31 Aug 2024 Transfers Unrestrlcted funds General fund 457.442 3,365,493 (3.237.850) (601) 584,484 Deslgnated funds Prop8rty fund Revaluation reserve Maintenance fund 1,611,784 470,733 24.794 (50,187) 601 1,562,198 470,733 24,794 2,564,753 3.365.493 (3,288.037) 2,642.209 Restrlcted funds Home Basis Empower Aspire 97,580 320,110 22.276 106.949 146,693 1,089,222 116.750 25.705 (48.564) (955,943) (135,460) {42,705) 195,709 453,389 3,566 89,949 546,915 1.378,370 (1,182,672) 742,613 Total funds 3,111,668 4,743,863 {4,470,709) 3,384,822 26
Oasls Aquila Housing Ltd (Trading as Oasis Community Housing - A company limited by guarantee} Notes to the flnancial statements For the year ended 31 August 2024 17. Fund reconciliation (continued) Year ended 31 Au ust 2023 Balance at 1 Sept 2022 Incomlng Resources Resources expended Gainl Balance at loss 31 Aug 2023 Transfers Unrestricted funds General fund 575,442 3.165.747 {3.292.736) 8,989 457,442 Deslgnated funds Property fund Revaluation reserve Elizabeth House refurbishment fund Maintenance fund Systems upgrade fund Beneficiary fund 1,584,127 338,016 (50.187) 78.306 (77,295) (462) 210,012 1,611,784 470,733 5.000 24,794 12,653 15,000 (5,000) 24,794 {12.653) (5,000) {10,000) 2.555,032 3,165,747 {3.365.576) 209,550 2.564,753 Reslrlcted funds Home Basis Empower Aspire 29.733 270.042 24.074 128,725 105.063 1,003.108 124.752 117,420 {37,219) (953,038) {126,550) (139.195) 97,577 320,112 22,276 106,950 452,574 1.350,343 {1,256.002> 546,915 Total funds 3,007,606 4,516.090 (4,621,578) 209,550 3,111,668 Pro ert fund The fund represents the nel book value of all properties held less the revalualion res8rve, related borrowings and properties held for sale. Transfers are made each year to achieve this. Revaluation reserye The fund represents the excess of valuations over Ihe origin81 cost of revalued properties and is held as a designated reserve unlil disposal of the relaled property or a lower valuation is made. Elizabeth House refurbishm8nt This fund is to cover Ihe costs of planning for a proposed summer house lo be used as m8eting space for residents Maintenance fund The cost of planned maintenance work on our properties which has been calculaled over a 3 year period. There has been no expenditure during the year due to postponing expenditure until some key related contracts are renewed. S sten7S U rade fund The charity's systems upgrade was completed during the year. Beneficia fund This fund was to provide a mentoring scheme for our male residents wilhin our Southwark Project. A pilot scheme was run during this and the previous year which came under budget. The charily has decided not to continue with this project for the foreseeable future, therefore the balance of the fund has been transferred back to unreslrided reserves. 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 2024 Restrlcted funds Home The Home Fund represents funding received to increase access lo housing. This includes funds lo improve and refurbish our portfolio of properties, as well as funding for menial health support and our Transitions Fund. Basis The Basis Fund represents funding receive(J lo 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 Firsl type model - Basis Beds and our direct access homeless accommodation. ower The Empower fund represents funding received to work with victims of domestic abuse and sexual violence. As The Asplre Fund represents funds recelved to deliver employabilily servlces to those who face barriers lo employment across the North East. 18. Analysls of net assets between funds For the ear ended 31 Au USI 2024 Unrestrlcted Restrlcted funds funds Total funds Tangib18 fix8d assets Current assets Creditors due wlthin one year Creditors due in more than one year 2,603,336 1,040,263 (478,953) (522.437) 2,603,336 1,782,876 (478,953) 1522,437) 742,613 2.642,209 742.613 3,384,822 For the ear ended 31 Au ust 2023 Unrestrlcted Restrlcted funds funds Total funds Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year 2,648,717 905,160 (466,086) (523,038) 2,648,717 1,452,075 (466,086) (523,038) 546,915 2,564,753 546,915 3,111.668 19. Leases 28
Oasis Aquila Housing Ltd (Trading as Oa515 Community Housing- A company limited by guarantee) Notes to the financial statements For the year ended 31 August 2024 The future minimum lease payments under non-cancellable operating leases are as follows: 2024 2023 Not later Ihan one year Later than one and not later than five years 1.177 1,177 20. Related party transactlons At the year-end Ih8r8 was an amount of £36,575 owed to Oasis Charitable Trust (2023 - £20,063 owed to Oasis Charitable Trust), this entity is connected to Oasis Aquila Housing Ltd 21. Panslons Pension contributions payable for the y@ar ended 31 August 2023 amounted to £145,176 (2022- £138,088). Analysls of changes In net debt 22. At15ep 2023 Cash flows At 31 Aug 2024 Long term borrowings Short lerm borrowings (523,038) (43.162) 601 1522,437> (43,162) Total liabllilies Cash & cash equivalents (566,200) 1.088,601 601 (107,593) (565,599) 981,007 522.401 {106,9921 415,408 29