THE OASES FOUNDATION INTERNATIONAL (A COMPANY LIMITED BY GUARANTEe) ANNVAL REPORT AND FINANCIAL sfATEME14TS FOR THE YEAR ENDED 31sr JULY 2021 CHARITY RIGIsfRAT1014 No: 1111640 COMPANY REGISTRATION No: 5530343 Independent E¥Jmlners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Boshèm THE O¥4SES FOVNDATXON INTERNATIONAL (A COMPANY LIMITED BY GUARANTEE) CONTENTS Pages 3 to 8 Page 9 P•ge 10 Poge$ 11 to 15 Pag* 16 ThE OASES FOUf4DAn014 INTERNATIONAL {A COMPANY LIMITED BY GUARANTEE) REPORT OF ThE DIREcfoRS FOR THE YEAR ENDED 31sr JULY 2021 LEGAL AND ADMINISTRATIVE XNFORMATION CHARITY NVMVIEA 1111640 COMPANY REGIsniATION MuM8eR 5530343 sfART OF FINAMCIAL YEAA 1st Awjust 2020 eND OF FINAIICIAL YEAR 31st Juty 2021 TRusrttS AT 31sr JULY 2021 (•lw dlr•Ltr¥ undw ￿rnpartY l•w) Mr Adeboyo AdemilLb Rev Inyang Okutinyany Mrs He￿n Akerele Mr Akinturyje Magbad Mr Olumhje 0gunt>￿a - AptrfJnt¢d l May 2021 COMPANY SECRETARY Mrs Toyin Onanug OThER NAiies Oaxs ¢* Love thii5bOn Centre Iworklr¥) Traff￿1 REGISTERED ADDRESS E114EN DATE OF INCORPORATIOII 8th AUg￿t 20)5 GOVERN114G DOCUMENT Mèi)ornndum ArtldEs of A$s￿￿tk)n BANKERS HSP£ Bank pl¢ 85 Lewisham street LEwisham London SE13 6BE 1NDEPtIlDtl￿ EXAMINER Unrt2 Del11r￿ lar* P018 8NF THE FOUNDAYION tNfERNATIONAL IA COMPANY LtMtTFII BY GITARANTEE Foil THE YEAR P4Dlr4G3l￿ JULY2•2A The Trustee5 present their report and accounts for the year ended 31 July 2021. The accounts have been prepared in accordance with the accounting policie5 set out in note I to the accounts and comply with the Charity's Constitution. applicable law and requirements of the ststement of recommended practice -Accounts"ng and Reporting by Charities" 2019. STRucfuRE GOVERNANCE AND MANAGEMENT The Trustees incorporated Oases Foundation International as a charitable company limited by guarantee on 8 August 2005. It is governed by Its Memorandum and Articles of Association. The dlrectors 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 goveming document on the basis of their commitment to the vision of the Charity and its statement of bellef, and their wealth of experience in management and administration. inin The Trustees a￿ 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 attend s¢Jme specific programmes run during the year. Olumide Ogunbona was appointed a5 a trustee on l May 2021, having previously served in this capacity in the past. he was not required to attend any trustee indurtion sessions because he also served as a non-executive member of the board. Each year the Trustees are invited and encouraged to attend training sessions held on the church premises or externally. All Trustees re￿1Ve regular update5 from the Charlty commisslon and other newsletters. The Charity meets the public benefit for the advancement of the Chrlstian faith, to advance Christian education, to relieve persons who are in condition of need or hardship or who are aged or slck 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 activitie5 are described below. All activitie5 are undertaken to further our charitable purposes. and the Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when ￿VIewIng the Charity's aims and objertives, and in planning its future artivities. The Trustees believe that thev meet the public benefrt 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. The Trustees have conducted a review of the major risks to whlch the Charity is exposed. A risk reg15ter has been established and is updated annually. Where appropriate, systems or proCedU￿S 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 a￿ constantly reviewed by the internal audit team. Procedures are in place to ensu￿ the health and safety of volunteers. members and visitors to the Charity's facilities. The protection of children and vulnerable adults remains a priority and the Charity currently ensures that all volunteets who work with children and vulnerable adults are DBS checked and are IA COMPANI. LIMMBY GUARAKfEE? member5 of CCPAS cfhe Churches. Child Protertlon Advisory Service). The risk management is overseen by a nominated team who ensure teams that work with these gmups receive regular trainlng, po￿ COVID 19 In person services are held each week with Ilve streamlng for those who cannot attend. Prayer meetlngs and cell group meetings will continue online until further notice. The Charity continues to ensure COVID 19 compliant measure5 are put in place ensure the health and safety of volunteers, members and visitors to the Charities facilities. OBJEcfIvES AND ArnvrrIES The purposes of Oases Foundation International are as detsiled in its Memorandum and Articles of Association are: A) to advance the Christian faith in accordan￿ with the 5tstement 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 connerted with the charitable work of the charity: B) to further Chrts￿an educatlon 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 wodd 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 suth parts of London and in such other parts of the United Klngdom and the world as the trustees may frorn time to time think fit: D) to provide and maintain faalities for the benefit of local c¢)mmunities in such parts of London, the United Kingdom and the world a5 the trustees may from time to time think fit which facilities may without limltation include the provision of child-care services and meetings. lectures and classes and other fomis of education. recreation and leisure-time occupatlon without distinction of race, sex. political. rellglous or other opinion and with the object of improving the conditions of life for the sald inhabitsnts as the trustees may from time to time In their discretion deterniine. The following groups benefit from the work of the Charity: l. Those who worshlp 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 ccwnmunity as a whole through support given to other charftable organizations that promote the objects of the Charity The followin9 is an account of the activities, events. and general progress of the Oases Foundation Intemational and in particular the Oasis of Love Christian Centre. TUE OASES FOUNDATION IPITERNATIONAL IA COMPANY LtP+irtED BY GUARAFnf£l 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 moming service. Services were held online only during the lockdown restrirtions b. Engaging our members in a dally Spiritual exercise prTrJramme nick-named "splrobics" where both adults and children participate in daily devotional readings and prayer. c. Teachlng and training familles on the Word of faith and divine health through interactive sessions. cell groups, books and other teaching tools. d. Prayer bands and prayer chain projrammes run daily and prnyer meetings are held on Fridays where the Church engages in prayers for the community and the govemment. These meetings are now held online. Support single parent familles, senlor otizens. unemployed antj young families by providing financial assistance. Providing social artivitles to foster fellowship and develop strong relationshlps among the Church membership. g. Training and development of young people engaglng them in Christian values and preparing them to impact their generation. h. Training volunteers In administration. finan￿, management. music and hospitality, Developing and encouraging strong families through the provislon of marriage enrichment seminars. Encouraging business start-ups through its community connection programs. Other Actlvltle$ Street party. Rock Nations and Young at Heart events are still suspended but It Is hoped that they will ￿SuMe at some stage in the future. erBo 11 Na Prayer Bootcamp for all Nations (PBC) Is a prayer ministry and initlatlve of the Charity. Thls ministry is well ￿e1Ved 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 and second lockdown (Operation Let My People Go) against the impart of COVID 19 and for natlons. families and people imparted by the pandemic. 'OperatioD Let My People Go. and 'Taskforce against can￿r. continue to provide prayer daily. 'My Godly Seed, and 'Reset My Seed, are weekly meeting5 for expectsnt pa￿nts and parents. PBC provides resource5 (Prayer School and Spirobics) to teach and guide on devotional and intercessory prayer. This unit provides support for single parent famllles and is an outreach programme to a551St them with their daily routines. provide financial and emotional support and mentoring where requi￿d. THE FOW4DATION IPnERNAnONAL IA COMPANY LtmrrF￿By GUARA￿[ FOR ThE YEAR EF4DINGJisfJuLY 1•21 ni The Charity is committed to 5UPPOrting agencles and projects which carry out valuable and essential services here and abroad by way of donations to charitie5 suggested by the membership. Thls year particular support was given to charitie5 that were undergoing flnancial difficulties due to the impact of the lockdown measures. Liv The Charity is currently engaged with Linking Lives, an outreach to the elderly In the community, however, due to the government re5trithons. it has only been able to provide support to its benefactors via telephone. It is intended that the project will progress in the future when the all restrictions are lifted. 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 objetts 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. 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 satisfartory return was achieved in the year. The Charity currently has a policy of keeping any surplus funds in cash at banks where immedlate access and security of funds are guaranteed. Aside from retaining a prudent amount in reserves most of the Charity's funds are currently requlred for the purchase of its current premises to allow our contlnued servlce to the local community. 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 unrestrirted funds not committed or invested in tangible fixed assets held by the Charity should be between 3 to 6 months of the expenditure. The firbancial forecast for 202112022 Is £147.000. The reserves a￿ held in case of sudden decline in income to ensure that the Charity meets its legal commitments and commitments to provide service and attivities in accordance with its objects. The Charity is Cur￿ntlY committed to a 3 year lease with London City Mlssion which expires June 2022. London City Mlssion have offered a further extension to June 2023. Looklng to the future We intend to be involved in outreache5 to the developing nations providing training and development in information technolcrfJy. management and administration. We are also looking to develop ongoing outreaches to the elderly within the community. At the time of writlng this ￿pOrt, the Government restrirtions due to the pandemic has limited the Charity's ath'vities. Some meetings and actlvitie5 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 St￿arned 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 medlum. Prayer Bootcamp for all Nations continues to run weekly prayer meeting5 and teaching THEO.4SF.S Foi %D.4TIOTh I%TER%ATIO%AL {A CO)IP.4NI" LIM￿ED BI. GI'A114%TEgl REPORT OF THE DIRECTORS FOIiTHE I'EAR E%DING31￿ Jl Ll. ￿21 resources to support people during the pandemic. The welfareteam also provides finandal support for people who requbre assistan￿. It is difficult to predict whether or not activities such as Street Party and Young at Heart will run in 202212023. This wlll be revlewed In the coming months and our dLrlslon will be in accordance with any guldance or requirements ￿ceiVed from the Government. Whilst cash or physical donatlons glven by churth attendees on Sundays have been suspended. majorlty of our donors continue to 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 wlll be able to contbnue its work in the years to come. Statement of Dlrector's responslbllltles: The Chanties Act and the Companies Art 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 chority os at the end of the finanoal year and of the gjrplus or deficit of the diarity. In preparing those flnanclal statements the Board Is required to:. selert sultable accountlng polldes and then apply them Con￿StentIy. make Judgements and estimates that are rea￿)nable and prudent: and prepare the flnanclal statements on the golng concern basis unle55 It Is Inapproprlate to presume that the charity will continue In buslness state whether applicable accounting standards and statements of ￿cOmmended practice have been followed, subject to any material departures dlsclosed and explained in the flnanclal statements.. The Trustees are also responsible for maintaining adequate accounting records which disdose wlth reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transattions and enable them to ensure that the financial statements comply with the Companies Att 2006 and comply with regulations 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 detettion of fraud and other Irregularities. The Trustees are responsible for the contents of the trustees, report. and the responslblllty of the ndependent examiner in ￿latiOn to the tru5tee5' report Is limited to examlning the report and ensuring that. on the face of the report, the￿ are no inconsistencies with the flgures dlsdose in the flnanclal statements. These accounts have been prepared in accordantr with the provisions appllcable to companles subject to small companies. regime. l approve the attached statement of financlal activlties and balano sheet for the year ended 3 1st July 2021 and confirm that I have made available all infomiation necessary for its preparatlon. Date: Signature.. PRINT NAME: Mr Adebayo Ademiju THE OASES FOUNDATION 114TERNATIONAL (A COMPANY UMrfED BY GUARANTEE) STATEMENT OF FIPIANCIAL AcfIvmES FOR THE YEAR ENDED 31ST JULY 2021 In¢orporatlng In¢rAM and account TOTAL 202012021 201912020 INCOMING RESOURCES In¢om• Irom: 124.284 124.284 119,883 Actfjvw for GenerntlNJ Funds 3b 10.220 10,220 3.263 Investy1)ents 69 TOTAL INCOME 134.513 134.513 123.21S RESOURCES EXPtIlDiD Charftable Acifvitle5 96.887 96.887 129,794 TOTAL ExpeNSES 96 M7 129 794 NEf IMCOMIN611¢)IFfGOII•G) 37.626 37,626 (6.579) Total FuThts Brought Fornard 94,527 94.527 101,106 TOTAL FUNDS CARRIED FORWARD 13 153 131153 94.527 Movements ¢)n all reserve5 arml all 94ins and 1055e5 art stthin ato4e. of the operation5 a￿ c￿sSed as (xxthnulng. The notes on pw 11 10 15 fryrn part fin#rthl starwrw THE OASES FOUNDATION INTERIIATIONAL (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET AS AT 31￿ JULY 2021 Unre$trltt￿ Restr￿l￿1 31-Jul-21 31-Jul-20 Furvts Funts Tot*1 Total Tanglble assets 5.768 5.768 2.572 Deblors 7.212 7.212 2.354 CJsh al bank arvJ In harkj 122,937 122.937 94.991 Tot•1 Cufr•nt A*Mts 130.149 97.345 Cr•dIt￿. ornounts ts#wL9 ¥rthin one year 3,764 5.390 NET CURRENT ASSETS 91.955 126.385 91.955 FU140S OF TME CHARITY Unrestdcted Funts 132.153 132.153 94,527 Restrlctttl Fu TOTAL FUNDS 131153 131153 DIRECTORS, RtSPONSlBIUTIES: (x men*Ef5 have CUnPBTry 10 Otrtakn afi I￿r( d ts at¢wrts for the year Al q￿l￿)n in XCC￿aÈ￿e b)t**s leffertr*E XTh). THE OASES FOUNDATION IPITERNAT1014AL (A COMPANY LIMThED BY GUARANTEE) NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31sr JULY 2021 I. ACCOUNTING POLICIES Bads 01 pr•p*r•tl•n: Th• flnaftcbal Ststtyn￿ts hove been wepJreO M the htstrrt81 cc6t ￿5 of a¢tim￿tl￿j in accordan￿ wrth the Charities 2011. statement L* R￿c*Mrr￿ed PrtctKe 'Amntin9 and Reportin9 by Charit*s" {SORP 2015), aWKable a(touniing siarnlards and the CM1paTh￿S A£t 2(￿. The accounts have FRSIO2. AdvaThtsge has been taken of Seciity) 396(5} d The Ccrfnpan4es 2(M)6 to alkni the format of the finandal statvr*nts to ￿ adapied to renEct the speciol nature of ¢h•rlty'S and In order to ccffipty wbth the requirEments of the SORP. The cixnpany ho5 loken al￿￿nI￿ge crf the exvrytkn kn Fkn•fxkl Rer#NVng Sl4rthrd No I frorn the rÉyulrwneni to prr•Juce a cash l%)w slat*))ent. There has no chanye io the acc(wtiwwJ I￿rItit￿￿ nJe5 •nd meihod5 of acrountiivjl SIr￿ tsst year, and ¢l￿n9e5 to t￿￿ xcwnts. Incom• Recognltlon oljnumne These are 1fid￿d in the Stotemert ol FlTrafbclJl Acti¥fjt*s (SOFA) when.. ' the tharity t￿me5 entthj to the resty1r￿,. the trlstees ore virtually certain It*y vrflll re￿1¥¢ Ihe re50urtts: and . the mLY*tsry valuv can te ￿sU1￿d wlth rel*b4ty. In¢ome with ￿lated e¥pendlture resouwce relatsd experKlituwe are repwtal gro55 kn the SOFA. Grntjts and Éknlattons Grafits and Donotions are the SOFA hjs uncond*kwl ￿t￿nt to th Tax r¥lalms ￿ Cwtlons ond G#ts Incoming resourw fr(ffi tax ruknlms a￿ IrKluded in the SOFA in the sarrn fi￿￿141 0$ Ihe gift to whith they rdète. ContractLtal Income and Pwfmnce Rdoted Grnnts Glfts In Klrtd Gffts Sn kjnd art accounted lor at a re4sonable estThte cl their Value kn the chjrity tr the amwnt acruolly realised. Glfts In kind for or db5tdtth are indude4 In actounts as 9fft5 wly *then sold or dlstdbuted by the chavlty. Gfft5 in kind tor use the th•rity are I1￿￿le4 In the SOFA as IrKrynlNJ rtsoUr￿ r￿￿vable. These are th Induded In Incomlng resources Iwith an ￿￿1V0*￿t anw)unt in rewurtes expended) where the benertt to the chartty ts reas(wbty quantMobb¢. m￿surable ar*1 mèier*l. The value placed w these Volunteer Help Annu41 Repjrt. 10 THE OASES FOUNDATION Ip¥fERNATIONAL (A COMPANY LIMITED BY GUARAt4TEE) NOTES TO THE FINANCIAL STATEME14TS (c4>ntinued) FOR ThE YEAR ENDED 31ST JULY 2021 I. ACCOUNTING POUCIES (i•l 31-Jul-21 31-Jul-20 FuThJ Fund Curyent Account- HSBC Savlrws Account- HSBC 22.935 I¢￿.¢￿)3 22.935 ICQ.CQ3 9.923 85.068 7. CREDifoRS AMD ACCAUALS: Amouiifs FALLING DibE WITHIN ome YEAR Tot•1 J1-J￿-21 31-Jul-20 Fund HMRC- PAYE other credltors 1.607 1,607 4.250 1,140 1157 2.157 8. STAFF COSTS AIIO NUMBERS 202012021 201912020 GY05s Wagts aNI Salartes Enwloyer's matH￿oI Insuran￿ Cos15 Em￿0ye1.5 P¢nsion COAS 31.798 3,173 954 33.051 3.363 202012021 201912020 TOTAL AthIU¢s In furtlwor** d ￿n￿OI1￿).S Obj￿ 13 THE OASES FOUNDATION IrirERNATIONAL {A COMPANY LIMITED BY GUARANTEE) NOTES TO ThE FINANCIAL sfATEMENTS {cortinued) FOR THE YEAR ENDED 31ST JULY 2021 9. DIRECTQAS AND OThER RtiATED PARTIES 20201202L 201912020 Numtw of DIre£th￿ who We￿ pak1 exptsws Total amount pold The pastof L5 also a dIT￿tty. His sakry Is h15 dutses as Pa￿￿. aThJ no pfrynwt 15 made to hkn $ a dlrth. No otlw payments were made to dwectots or any with lkn dUfm￿ flnanclal perk)d. other than rwmbJrsw*nt for ￿rd￿Se$ mode on behalf ￿ the Charrty. No matsrtal tr8￿Ct￿)n took place t*iween the ￿9￿￿￿tk)n or any £onDxttd wlth thwn. 10. RISK ASSESSME•IT See Trustees Report (Page 31. 11. RESERVÈS POUCY See Trnstees Rewt (Page 6). 11 PU8LIC BENEFIT See Trustees R•PYt (Pa9¢ 3). 14 ## **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 2021. ## **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 Unit 2 The Broadfields Business Centre Delling Lane Bosham Date: 11.5.22 West Sussex PO18 8NF