## **THE OASES FOUNDATION INTERNATIONAL (A COMPANY LIMITED BY GUARANTEE)**
**ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2020**
**CHARITY REGISTRATION No: 1111640 COMPANY REGISTRATION No: 5530343**
Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham
**THE OASES FOUNDATION INTERNATIONAL (A COMPANY LIMITED BY GUARANTEE)**
## **CONTENTS**
|Pages 3 to 8|Report of the Directors|
|---|---|
|Page 9|Statement of Financial Activities.|
|Page 10|Balance Sheet.|
|Pages 11 to 15|Notes to the Financial Statements.|
|Page 16|Independent Examiner's Report on the Accounts.|
1
## **THE OASES FOUNDATION INTERNATIONAL (A COMPANY LIMITED BY GUARANTEE)**
## **REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31ST JULY 2020**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
## **CHARITY NUMBER**
1111640
**COMPANY REGISTRATION NUMBER START OF FINANCIAL YEAR END OF FINANCIAL YEAR**
5530343 1st August 2019
31st July 2020
**TRUSTEES AT 31ST JULY 2020 (also directors under company law)**
Mr Adebayo Ademiju Rev Inyang Okutinyang Mrs Helen Akerele Mr Akintunde Magbadelo
## **COMPANY SECRETARY**
Mrs Toyin Onanuga
**OTHER NAMES REGISTERED ADDRESS**
Oases of Love Christian Centre (working name)
180 Grove Green Road Leytonstone London E11 4EN
**DATE OF INCORPORATION GOVERNING DOCUMENT BANKERS**
8th August 2005
Memorandum and Articles of Association
HSBC Bank plc 85 Lewisham High Street Lewisham London SE13 6BE
## **INDEPENDENT EXAMINER**
K Gomes Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling lane Bosham PO18 8NF
2
## **THE OASES FOUNDATION INTERNATIONAL (A COMPANY LIMITED BY GUARANTEE)**
## **REPORT OF THE DIRECTORS (continued) FOR THE YEAR ENDED 31ST JULY 2020**
The trustees present their report and accounts for the year ended 31st July 2020. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity’s Constitution, applicable law and requirements of the statement of recommended practice “Accounting and Reporting by Charities” issued in March 2005.
## **STRUCTURE GOVERNANCE AND MANAGEMENT**
The Trustees incorporated Oases Foundation International as a charitable company limited by guarantee on 8th August 2005. It is governed by its Memorandum and Articles of Association.
The directors of the company are also Trustees for the purpose of charity law and under the company’s articles they are also members of the company. All Trustees have been appointed in accordance with the charity’s governing document on the basis of their commitment to the vision of the charity and its statement of belief, and their wealth of experience in management and administration.
## Trustee induction and training
The Trustees are familiar with the practical work of the charity having been committed to the ministry of the church for some years. The Trustees continue to participate in activities held by the charity and they are also at some specific programmes run during the year.
No new trustees have been appointed but when new trustees are appointed they are required to attend short training sessions to familiarise themselves with the Charity and the context in which it operates. The training sessions are normally organized by the Chair of the Board of Trustees and the Company Secretary.
Each year the Trustees are invited and encouraged to attend training sessions held on the church premises or externally. All Trustees receive regular updates from the Charity Commission and other newsletters.
## Public Benefit
The Charity meets the public benefit for the advancement of the Christian faith, to advance Christian education, to relieve persons who are in condition of need or hardship or who are aged or sick and to relieve the distress caused thereby in such parts of London and in such other parts of the United Kingdom and the world. Our main activities are described below. All activities are undertaken to further our charitable purposes for the public benefit, and the Trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Charity’s aims and objectives, and in planning its future activities. The Trustees believe that they meet the public benefit requirements by empowering and enabling ordinary people to live out their faith as part of the community through worship, prayer and fellowship; outreach and missions; pastoral care and support to the members of the community such as the homeless and senior citizens.
## Risk Management
The Trustees have conducted a review of the major risks to which the Charity is exposed. A risk register has been established and is updated annually. Where appropriate, systems or procedures have been established to mitigate the risks the Charity faces. Internal financial control is a constant risk management focus. Robust internal controls are operated, including a hierarchy of spending limits and authorisation procedures, which are constantly reviewed by the internal audit team. Procedures are in place to ensure the health and safety of volunteers, members and visitors to the Charity's facilities.
3
## **THE OASES FOUNDATION INTERNATIONAL (A COMPANY LIMITED BY GUARANTEE)**
**REPORT OF THE DIRECTORS (continued) FOR THE YEAR ENDED 31ST JULY 2020**
## **STRUCTURE GOVERNANCE AND MANAGEMENT (continued)**
The protection of children and vulnerable adults remains a priority and the Charity currently ensures that all volunteers who work with children and vulnerable adults are DBS checked and are members of CCPAS (The Churches’ Child Protection Advisory Service). The risk management is overseen by a nominated team who ensure teams that work with these groups receive regular training.
## COVID 19
All in person meetings, mid-week and weekly services were suspended and moved online. The Charity provided a platform where attendees could still continue to participate in its weekly activities. The Charity set up a support system for people who lost their jobs and social support for the vulnerable and elderly. Donations were received online so the Charity did not experience a drop income.
In person services commenced when the Government lifted the lockdown restrictions in July 2020 and all measures to ensure safety of attendees were put in place such as a station for sanitization, COVID19 compliant cleaning, screens, the provision of masks and disposable gloves, social distancing measures, pre -attendance and attendance registration.
The Charity continues to ensure COVID 19 compliant measures are put in place ensure the health and safety of volunteers, members and visitors to the Charities facilities.
## **OBJECTIVES AND ACTIVITIES**
The purposes of Oases Foundation International are as detailed in its Memorandum and Articles of Association are:
(A) to advance the Christian faith in accordance with the statement of beliefs appearing in the schedule hereto in London and in such other parts of the United Kingdom or the world as the trustees may from time to time think fit and other such purposes which are exclusively charitable according to the law of England and Wales and are connected with the charitable work of the charity;
(B) to further Christian education including by means of establishing and operating any educational establishment or establishment in such parts of London and in such other parts of the United Kingdom and the world as the Trustees may from time to time think fit;
(C) to relieve persons who are in condition of need or hardship or who are aged or sick and to relieve the distress caused thereby in such parts of London and in such other parts of the United Kingdom and the world as the Trustees may from time to time think fit;
(D) to provide and maintain facilities for the benefit of local communities in such parts of London, the United Kingdom and the world as the Trustees may from time to time think fit which facilities may without limitation include the provision of child-care services and meetings, lectures and classes and other forms of education, recreation and leisure-time occupation without distinction of race, sex, political, religious or other opinion and with the object of improving the conditions of life for the said inhabitants as the trustees may from time to time in their discretion determine.
4
**THE OASES FOUNDATION INTERNATIONAL (A COMPANY LIMITED BY GUARANTEE)**
## **REPORT OF THE DIRECTORS (continued) FOR THE YEAR ENDED 31ST JULY 2020**
## **OBJECTIVES AND ACTIVITIES (continued)**
The following groups benefit from the work of the Charity:
1. Those who worship or participate in other activities at the Oasis of Love Christian Centre.
2. Vulnerable and disadvantaged members of society, including the homeless, elderly, single parent families, children, young people and families.
3. The wider community as a whole through support given to other Charitable organisations that promote the objects of the Charity.
## The focus of our work and strategies
The following is an account of the activities, events and general progress of the Oases Foundation International and in particular the Oasis of Love Christian Centre.
The Oases Foundation International continues to establish and develop the Oasis of Love Christian Centre which is, at present is its primary activity and the key elements of the Charity’s medium to long term strategies are:
a. Providing Christian worship and proclamation of the Christian message. Facilitating opportunities for Christian worship through prayer, music, literature, electronic media and personal evangelism. We continue to run a weekly Sunday morning service. Services were held online only during the lockdown restrictions
5
## **THE OASES FOUNDATION INTERNATIONAL (A COMPANY LIMITED BY GUARANTEE)**
## **REPORT OF THE DIRECTORS (continued) FOR THE YEAR ENDED 31ST JULY 2020**
## **OBJECTIVES AND ACTIVITIES (continued)**
b. Engaging our members in a daily spiritual exercise programme nicknamed “spirobics” where both adults and children participate in daily devotional readings and prayer.
c. Teaching and training families on the Word of faith and divine health through interactive sessions, books and other teaching tools.
d. Prayer bands and prayer chain programmes run daily and prayer meetings are held on Fridays where the Church engages in prayers for the community and the government.
e. Support single parent families, senior citizens, unemployed and young families by providing financial assistance.
f. Providing social activities to foster fellowship and develop strong relationships among the Church membership.
g. Training and development of young people engaging them in Christian values and preparing them to impact their generation. The Church’s youth group ONYX continues to thrive and is a vehicle through which the Church reaches out to young people.
h. Training volunteers in administration, finance, management, music and hospitality.
i. Developing and encouraging strong families through the provision of marriage enrichment seminars.
j. Encouraging business start ups through its community connection programs.
## **OTHER ACTIVITIES**
## Street Party
Street party, Rock Nations and Young at Heart events were suspended due the current restrictions but it is hoped that they will resume at some stage in the future.
## Prayer Bootcamp for all Nations
Prayer Bootcamp for all Nations (PBC) is a prayer ministry and initiative of the Charity. PBC has been pivotal in providing prayer support for families experiencing challenges during the pandemic. This ministry is well received and sees weekly support and participation globally with over 200-250 people connecting with the Charity online through this platform every week. PBC held daily prayer meetings during the first lockdown (Operation Let My People Go) against the impact of COVID19 and for nations, families and people impacted by the pandemic. ‘Operation Let My People Go’ and Taskforce against Cancer continues to provide prayer daily. My Godly Seed and Reset My Seed are weekly meetings for expectant parents and parents. PBC provides resources (Prayer School and Spirobics) to teach and guide on devotional and intercessory prayer.
## Single Parents Support Unit.
This unit provides support for single parent families and is an outreach programme to assist them with their daily routines, provide financial and emotional support and mentoring where required.
6
## **THE OASES FOUNDATION INTERNATIONAL (A COMPANY LIMITED BY GUARANTEE)**
## **REPORT OF THE DIRECTORS (continued) FOR THE YEAR ENDED 31ST JULY 2020**
## **OTHER ACTIVITIES (continued)**
## Support of other charitable organisations
The Charity is committed to supporting agencies and projects which carry out valuable and essential services here and abroad by way of donations to charities suggested by the membership. This year particular support was given to charities that were undergoing financial difficulties due to the impact of the lockdown measures.
## **FINANCIAL REVIEW**
With the support of the church membership and other attendees the Charity has generated a very positive outcome and has been able to maintain its commitments and fulfil its objects and had an increase in its funds. The Charity’s principal source of funding is from donations received from members of the Oasis of Love Christian Centre and other supporters of its work.
## Investment Policy
The Charity has cash levels that are set out in the Charity’s balance sheet. The objective of the investment policy is to invest cash at banks where the capital is protected. The Trustees consider that a satisfactory return was achieved in the year. The Charity currently has a policy of keeping any surplus funds in cash at banks where immediate access and security of funds are guaranteed.
Aside from retaining a prudent amount in reserves most of the Charity’s funds are currently required for the purchase of its current premises to allow our continued service to the local community.
## Reserves policy
The trustees have reviewed the Charity’s reserves policy in light of its commitments main risks and future plans. They have established a policy whereby unrestricted funds not committed or invested in tangible fixed assets held by the Charity should be between 3 to 6 months of the expenditure. The financial forecast for 2020/2021 is £140,000. The reserves are held in case of a sudden decline in income to ensure that the Charity meets its legal commitments and commitments to provide service and activities in accordance with its objects. The Charity is currently committed to a 3 year lease with London City Mission due to expire June 2022.
## **LOOKING TO THE FUTURE**
We intend to be involved in outreaches to the developing nations providing training and development in information technology, management and administration. We are also looking to develop ongoing outreaches to the elderly within the community.
At the time of writing this report, the Government restrictions due to the pandemic has limited the Charity’s activities. Some meetings and activities at the Charity’s premises particularly the weekly Junior Church and monthly meetings have all been suspended until further notice. The Charity, through its working arm Oasis of Love Christian Centre (OLCC), has put in place virtual meetings and services which can be streamed online during this time. We have daily prayer meetings via video conference and during the month of lent were able continue with meetings using this medium. Prayer Bootcamp for all Nations continues to run weekly prayer meetings and teaching resources to support people during the pandemic. The welfare team also provides financial support for people who require assistance.
It is difficult to predict whether or not activities such as Street Party and Young at Heart will run in 2022. This will be reviewed in the coming months and our decision will be in accordance with any guidance or requirements received from the Government.
7
## **THE OASES FOUNDATION INTERNATIONAL**
## **(A COMPANY LIMITED BY GUARANTEE)**
## **REPORT OF THE DIRECTORS (continued) FOR THE YEAR ENDED 31ST JULY 2020**
## **LOOKING TO THE FUTURE (continued)**
Whilst donations given by church attendees on Sundays have been affected by the suspension of church activities, majority of our donors now give online using the facility available on OLCC’s website. We are encouraged by the faithful commitment of our donors. We trust that the Charity will be able to continue its work in the years to come.
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES:**
The Charities Act and the Companies Act require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to :-
- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business;
- state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements.
- The trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with the
Companies Act 2006 and comply with regulations made under the Charities Act. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are also responsible for the contents of the Trustees' Report, and the responsibility of the independent examiner in relation to the Trustees' Report is limited to examining the report and ensuring that, on the face of the report, there are no inconsistencies with the figures disclosed in the financial statements.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
I approve the attached statement of financial activities and balance sheet for the year ended 31st July 2020, and confirm that I have made available all information necessary for its preparation.
Date: …...........................................
Signature………………………………………………………………
Mr Adebayo Ademiju, Director
8
## **THE OASES FOUNDATION INTERNATIONAL**
## **(A COMPANY LIMITED BY GUARANTEE)**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JULY 2020**
Incorporating income and expenditure account
|Notes
**INCOMING RESOURCES**
**Income from:**
Donations and legacies
3a
Activities for Generating Funds
3b
Investments
3c
**TOTAL INCOME**
**RESOURCES EXPENDED**
**Expenditure on:**
Charitable Activities
4a
**TOTAL EXPENSES**
**NET INCOMING/ (OUTGOING)**
Total Funds Brought Forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**2019/2020 2019/2018**
£
£
**£**
**£**
119,883
-
119,883
132,835
3,263
-
3,263
2,881
69
-
69
158|
|---|---|
||**123,215**
**-**
**123,215**
**135,874**|
||129,794
-
129,794
126,595|
||**129,794**
**-**
**129,794**
**126,595**|
||**(6,579)**
**-**
**(6,579)**
**9,279**
101,106
-
101,106
91,827|
||**94,527**
**-**
**94,527**
**101,106**|
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 11 to 15 form part of these financial statements.
9
## **THE OASES FOUNDATION INTERNATIONAL**
**(A COMPANY LIMITED BY GUARANTEE)**
## **BALANCE SHEET AS AT 31ST JULY 2020**
|Note
**Fixed Assets**
Tangible assets
2
**Current Assets**
Debtors
5
Cash at bank and in hand
6
**Total Current Assets**
7
**NET CURRENT ASSETS**
**TOTAL ASSETS**less current liabilities
**NET ASSETS**
**FUNDS OF THE CHARITY**
Unrestricted Funds
Restricted Funds
**TOTAL FUNDS**
**Creditors:** amounts falling due within
one year|Unrestricted
Restricted
**31-Jul-20**
**31-Jul-19**
Funds
Funds
**Total**
**Total**
£
£
**£**
**£**
2,572
-
2,572
1,339
2,354
-
2,354
7,322
94,991
-
94,991
97,383|
|---|---|
||**97,345**
**-**
**97,345**
**104,705**|
||5,390
-
5,390
4,938
91,955
-
91,955
99,767|
||**94,527**
**-**
**94,527**
**101,106**|
||**94,527**
**-**
**94,527**
**101,106**|
||94,527
-
94,527
101,106
-
-
-
-|
||**94,527**
**-**
**94,527**
**101,106**|
## **DIRECTORS' RESPONSIBILITIES:**
The directors are satisfied that for the year ended on the 31st July 2020 the charitable company was entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 and that no member or members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Act. However, in accordance with section 145 of the Charities Act 2011, the accounts have been examined by an independent examiner whose report appears on page 16.
The director(s) acknowledge their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The directors acknowledge their responsibility for ensuring that the company keeps proper accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.
Approved by the directors on …...................................................
Signed on their behalf by director ................................................. Print Name:
10
## **THE OASES FOUNDATION INTERNATIONAL (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2020**
## **1. ACCOUNTING POLICIES**
## **Basis of preparation:**
The financial statements have been prepared on the historical cost basis of accounting in accordance with the Charities Act 2011, Statement of Recommended Practice "Accounting and Reporting by Charities" (SORP 2015), applicable accounting standards and the Companies Act 2006. The accounts have been prepared on an ongoing concern basis. The charity meets the definition of a public benefit entity under FRS102.
Advantage has been taken of Section 396(5) of The Companies Act 2006 to allow the format of the financial statements to be adapted to reflect the special nature of the charity's operation and in order to comply with the requirements of the SORP.
The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement.
## _Changes in Accounting policies and previous accounts_
There has been no change to the accounting policies (variation rules and methods of accounting) since last year, and no changes to the previous accounts.
## **Income**
## _Recognition of Income_
These are included in the Statement of Financial Activities (SOFA) when:
- the charity becomes entitled to the resources;
- the trustees are virtually certain they will receive the resources; and
- the monetary value can be measured with sufficient reliability.
## _Income with related expenditure_
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.
## _Grants and Donations_
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
## _Tax reclaims on Donations and Gifts_
Incoming resources from tax reclaims are included in the SOFA in the same financial period as the gift to which they relate.
## _Contractual Income and Performance Related Grants_
This is only included in the SOFA once the related goods or services has been delivered.
## _Gifts in Kind_
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.
## _Donated Services and Facilities_
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
## _Volunteer Help_
The value of any voluntary help received is not included in the accounts but is described in the Trustees' Annual Report.
11
## **THE OASES FOUNDATION INTERNATIONAL (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST JULY 2020**
## **1. ACCOUNTING POLICIES (continued)**
## **Expenditure and liabilities**
## _Liability recognition_
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
## _Governance Costs_
Include costs of the preparation and examination of statutory accounts, the costs of the Trustees' meetings and cost of any legal advice to trustees on governance or constitutional matters.
## _Grants payable without performance conditions_
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
## **Assets**
## _Tangible fixed assets for use by the charity_
These are capitalised if they can be used for more than one year, and cost at least £500. They are valued at cost or, if gifted, at the value to the charity on receipt.
Depreciation is calculated at a rate to write off the cost of tangible fixed assets on a reducing balance over their estimated useful lives. The rates applied per annum are as follows:
|Fixtures and Fittings
**2. TANGIBLE FIXED ASSETS**
EQUIPMENT
Cost
01-Aug-19
Additions
Cost at
31-Jul-20
Depreciation
01-Aug-19
Charge
Depreciation at
31-Jul-20
Net Book Value
31-Jul-20
Net Book Value
31-Jul-19|33%
Unrestricted
Restricted
**Total**
£
£
**£**
28,659
-
28,659
2,499
-
2,499
Fixtures & Fittings|
|---|---|
||31,158
-
31,158|
||27,320
-
27,320
1,266
-
1,266|
||28,586
-
28,586|
||**2,572**
**-**
**2,572**|
||1,339
-
1,339|
The annual commitments under non-cancelling operating leases and capital commitments are as follows:
31st July 2020 : None 31st July 2019 : None
12
## **THE OASES FOUNDATION INTERNATIONAL (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST JULY 2020**
|**3. INCOME**
**a) Donations and legacies**
Tithes & offerings
Gift Aid tax recoverable
**b) Activities for Generating Funds**
Rock Nation
Street party
Prayer Bootcamp
**c) Income from Investments**
Interest
**4. EXPENSES**
**a) Expenditure on Charitable Activities**
Bank charges
Building lease & maintenance
Church general
Department expenses
-Rock Nation
-Women's Ministry
-Other
Depreciation
Equipment
Events & activities
Governance costs
-Board of trustees
-Professional fees
Honorarium
Insurance & licences
Community outreach & missions
Repairs & restoration
Salaries
Stationery & Supplies
Training
Utilities
Welfare Support|Unrestricted
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**2019/2020 2019/2018**
£
£
**£**
**£**
106,202
-
106,202
119,148
13,681
-
13,681
13,687|
|---|---|
||**119,883**
**-**
**119,883**
**132,835**|
||1,998
-
1,998
2,881
650
-
650
615
-
615
-|
||**3,263**
**-**
**3,263**
**2,881**|
||69
-
69
158|
||**69**
**-**
**69**
**158**|
||Unrestricted
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**2019/2020 2019/2018**
£
£
**£**
**£**
1,164
-
1,164
540
30,209
-
30,209
27,044
100
-
100
298
6,412
-
6,412
7,739
1,300
-
1,300
1,248
1,975
-
1,975
493
1,266
-
1,266
669
2,260
-
2,260
1,846
1,200
-
1,200
6,304
-
-
-
75
1,155
-
1,155
1,333
2,000
-
2,000
1,800
7,679
-
7,679
3,107
14,092
-
14,092
12,456
781
-
781
48
37,394
-
37,394
36,934
1,585
-
1,585
2,969
6,729
-
6,729
1,697
3,189
-
3,189
3,429
9,303
-
9,303
16,566|
||**129,794**
**-**
**129,794**
**126,595**|
13
## **THE OASES FOUNDATION INTERNATIONAL (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST JULY 2020**
## **5. DEBTORS AND PREPAYMENTS**
||Unrestricted|Restricted|**Total**|**Total**|
|---|---|---|---|---|
||Fund|Fund|**31-Jul-20**|**31-Jul-19**|
||£|£|**£**|**£**|
|Gift Aid tax recoverable|480|-|480|4,137|
|Prepayments|1,874|-|1,874|3,185|
||**2,354**|**-**|**2,354**|**7,322**|
|**6. CASH AT BANK AND IN HAND**|||||
||Unrestricted|Restricted|**Total**|**Total**|
||Fund|Fund|**31-Jul-20**|**31-Jul-19**|
||**£**|**£**|**£**|**£**|
|Current Account - HSBC|9,923|-|9,923|4,852|
|Savings Account - HSBC|85,068|-|85,068|92,531|
||**94,991**|**-**|**94,991**|**97,383**|
|**7. CREDITORS AND ACCRUALS: AMOUNTS**|**FALLING DUE WITHIN ONE YEAR**||||
||Unrestricted|Restricted|**Total**|**Total**|
||Fund|Fund|**31-Jul-20**|**31-Jul-19**|
||£|£|**£**|**£**|
|HMRC & NEST|-|-|-|2,163|
|Trade Creditors|4,250|-|4,250|1,035|
|Accrual: Independent Examiner's Fees|1,140|-|1,140|1,140|
|Prepaid Income|-|-|-|600|
||**5,390**|**-**|**5,390**|**4,938**|
|**8. STAFF COSTS AND NUMBERS**|||||
||2019/2020|2019/2018|||
||£|£|||
|Gross Wages and Salaries|33,051|34,220|||
|Employer's National Insurance Costs|3,363|1,917|||
|Employer's Pension Costs|994|797|||
||**37,408**|**36,934**|||
Employees who were engaged in each of the following activities:
|Activities in furtherance of organisation's objects|2019/2020
2019/2018
TOTAL
TOTAL
1
1|
|---|---|
||**1**
**1**|
No employees received emoluments in excess of £60,000. Staff are paid through the PAYE system.
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# **THE OASES FOUNDATION INTERNATIONAL (A COMPANY LIMITED BY GUARANTEE)**
# **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST JULY 2020**
## **9. DIRECTORS AND OTHER RELATED PARTIES**
|Number of Directors who were paid expenses
Total amount paid|2019/2020
2019/2018
0
0
**0**
**0**|
|---|---|
The pastor is also a director. His salary is for his duties as pastor, and no further payment is made to him as a director.
The Charity supports a number of students attending University. One of these students, who received payments totalling £300 in the year, is related to the pastor.
No other payments were made to directors or any persons connected with them during this financial period, other than reimbursement for purchases made on behalf of the Charity. No material transaction took place between the organisation and a trustee or any person connected with them.
## **10. RISK ASSESSMENT**
See Trustees Report (Page 3).
## **11. RESERVES POLICY**
See Trustees Report (Page 6).
## **12. PUBLIC BENEFIT**
See Trustees Report (Page 3).
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## **THE OASES FOUNDATION INTERNATIONAL (A COMPANY LIMITED BY GUARANTEE)**
## **INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2020.
## **RESPONSIBILITIES AND BASIS OF REPORT**
As the charity’s trustees of the Company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).
Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act.
## **INDEPENDENT EXAMINER'S STATEMENT**
I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that:
- accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
- the accounts do not accord with such records; or
• the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or
- the accounts have not been prepared in accordance with the Charities SORP (FRS102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
K Gomes MAAT Independent Examiners Ltd Sovereign Centre Poplars Yapton Lane Walberton West Sussex BN18 0AS
Date:17/5/21
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