OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← Oaks Community Church North East Derbyshire

2024-04-05-accounts

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5TH APRIL 2024

OAKS COMMUNITY CHURCH NORTH EAST DERBYSHIRE

(COMPANY LIMITED BY GUARANTEE)

CHARITY REGISTRATION No: 1115427 COMPANY REGISTRATION No: 05291244

Independent Examiners Ltd

Unit 2

The Broadbridge Business Centre

Delling Lane Bosham PO18 8NF

OAKS COMMUNITY CHURCH NORTH EAST DERBYSHIRE (COMPANY LIMITED BY GUARANTEE) CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2024

Page
Legal and Administrative Information 3
Directors' Report 4 to 6
Independent Examiner's Report on the Accounts 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Accounts 10 to 18

OAKS COMMUNITY CHURCH NORTH EAST DERBYSHIRE (COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION

CHARITY NUMBER

1115427

COMPANY REGISTRATION NUMBER 05291244

START OF FINANCIAL YEAR

06 April 2023

END OF FINANCIAL YEAR

05 April 2024

DIRECTORS AT 5 APRIL 2024 Janet Morton (Chair) Richard Bull Susan Marley (resigned 23 March 2024) Mary Milner (resigned 28 Sep 2023) Kathryn Filleul Julie Thompson John Fermer Richard Thompson

COMPANY SECRETARY

Emma Bowden

The existing trustees appoint any new trustees following the provisions laid out in the Charity's governing instrument.

GOVERNING INSTRUMENT

Memorandum and Articles of Association incorporated 19th November 2004, amended by special resolutions on 21st May 2006, 11th March 2010 and 22nd July 2010.

REGISTRATION DATE

REGISTRATION DATE 19 July 2006: Standard registration REGISTERED ADDRESS 4 Lea Road Dronfield Derbyshire S18 1SB PRIMARY BANKERS Co-operative Bank 15 Elder Way Chesterfield S40 1UX INDEPENDENT EXAMINER Gary Schulz ACMA Independent Examiners Ltd Unit 2 The Broadridge Business Centre Delling Lane Bosham PO18 8NF

3

OAKS COMMUNITY CHURCH NORTH EAST DERBYSHIRE (COMPANY LIMITED BY GUARANTEE) DIRECTORS' REPORT FOR THE YEAR ENDED 5TH APRIL 2024

The Directors have pleasure in submitting their report and financial statements for the year ended 5th April 2024.

Charity Objects:

Introduction:

When planning our activities for the year, the Directors and Leadership Team have considered the Commission’s guidance on public benefit and, in particular, the specific guidance on the Advancement of Religion for the public benefit.

The church aims to meet the needs of both the local and the wider community by providing opportunities for worship, teaching, pastoral care and practical help for those from all backgrounds and of all ages. It also supports others in the wider community and worldwide who work with the poor, the elderly, the needy and underprivileged.

Achievements and Performance:

Object 1: the advancement of the Christian faith by the holding of public meetings, and by the encouragement of personal spiritual growth.

The advancement of the Christian faith by running two separate congregations both of which are open for the public to experience worship, Christian teaching, and pastoral support in Sunday and midweek meetings. Midweek meetings for children and youth are also run from both sites weekly during term-time. These groups are open to and attended by members of the public who have no other affiliation to the church. All our youth and children’s groups give teaching which contributes to the spiritual and moral education of those who attend.

We have Belonging Groups, and other small groups which meet at individuals’ homes and online, where teaching, Bible studies and pastoral support is given. We continue to produce online programmes, called ‘Bible Talk’, ‘Sunday’s Cool’ and ‘Oaks Online’ in an effort to maintain our online presence, being accessible to anyone, anywhere, anytime.

Object 2: the advancement of education.

The advancement of education by teaching and equipping in Sunday services and midweek groups. We have provided leadership training for those leading adult and children’s groups. We continue to employ a part-time Schools Worker for schools in both Dronfield and Eckington. Our Schools Worker partners with Transforming Lives for Good (TLG) to provide weekly support for children who find school challenging. We host training events for staff which we open up to the people in our wider groups. We also now donate regularly to the Echoes Pre-School and Primary School Project in Sachibondu, Africa which works to bring education to children in a rural community.

Object 3: the provision and maintenance of facilities for the benefit of the community.

We provide and maintain our facilities for the benefit of the community at both the Oaks Community Church building in Dronfield and The Lighthouse in Eckington. Funds are made available for the maintenance of these premises, and upgrades to facilities are ongoing. We continue to develop activities to best serve the people of both communities and our weekly groups in both locations give local people a chance to meet others in the community, and good friendships and support networks have developed as a result.

We are still holding weekly walking groups, Knit and Natter, Book Exchange and other small groups by way of helping folk stay connected. We also run our Community Café twice a week at our Dronfield site, which serves free, light refreshments.

4

OAKS COMMUNITY CHURCH NORTH EAST DERBYSHIRE (COMPANY LIMITED BY GUARANTEE) DIRECTORS' REPORT (continued) FOR THE YEAR ENDED 5TH APRIL 2024

Object 4: the relief of sickness and hardship, and provision of help for those in need.

We have supported the work of the New Hope Food Bank by regularly helping to collect donations, sort food and distribute food parcels to those in need in our area.

We continue to run the Re:Store food service and attached Community Café. The two aims of Re:Store are to combat food waste and fight hunger. Food is donated by the charity FareShare, and other local supermarkets. We also work in conjunction with other local community projects and have received external funding from various sources. Re:Store is open to everyone. It runs twice weekly and costs £1.00 to access the food service. Quantity of food is allocated on household size. Re:Store is attended by over 150 households regularly.

From our connections with families in the community, we have continued to regularly provide school holiday food packs to families on free school meals.

We continue to work with those who experience money problems and offer budgetary advice for independent living and signposting to other organisations offering debt advice.

We are still able support the work of missionaries and projects overseas through our contacts at the House of Grace Thailand, and Links International. All of these organisations work to bring relief of poverty, and treatment and care for those who are sick. We also support Betel of Britain, based in Nottingham for the upkeep of their men’s home for recovering addicts and Hope House, based in Chesterfield who work to combat homelessness.

Financial Review

Total incoming resources for the period were £407,826 (2022/23: £168,717) of which £405,950 was unrestricted income (2022/23: £154,938). Total resources expended were £178,173 (2022/23: £185,502) of which £175,236) was unrestricted expenditure (2022/23: £172,179). A full review of the financial position of the charity can be found on the attached financial statements.

As at the balance sheet date of 5th April 2024 the charity had free reserves (unrestricted funds) of £856,746 (2022/23 £623,734) and restricted reserves of £10,874 (2022/23 £11,935).

Summary:

The church relies heavily on the work of volunteers to run many of its groups and activities. A team of around 90 volunteers work regularly to provide care and support for those of all ages both in the church and in the wider community. We are very grateful for all the help our volunteers give. Our core leadership team all give their services voluntarily.

All income received for a specific purpose (e.g., special collections, or to support a mission worker) is treated as a restricted fund and distributed in accordance with its purpose.

We acquired Eckington Friendship Hall as a gift from another charity on 22.3.24. We estimate the value of this asset to be £250,000. We put our Dronfield building on the market in January 2024 and it was valued at £450,000.

Looking Ahead:

We will continue working in the community with our current projects, providing warm spaces, food packs in school holidays, and community groups for all ages. Our part-time Schools Worker will continue attending the schools in both Dronfield and Eckington.

5

OAKS COMMUMrrY CHURCH NORTh EAST DERBYSHXRE (COMPANY LIMrrED BY GUARArirEE) DIREcfoRS' REPORT (eontlnu•d) FOR THE YEAR ENDED sfH APRIL 2024 r•Ltor•' RWpoMI￿I1t Statement rf Dlrttys. R•sp(￿sIbIlIIeS. Th• Charltles Art 2022 and the Companla% Act 2006 requlre the dlrttt(Y5 to prepare flnancl•l st•nents tr exh flnanclal yw whlch gfve J true and falr VIE￿ rf the st#e af th• company as at the end af the fknancknl yew and ( the surplus ty dafict of the charty. In preparlng those Ikn?￿dJI statem&)ts the dtfftws are rqutred to :. a) selxt sutable acc￿nt￿9 polcles and th￿ ¥ply them cthslstffitty; b) make Judganents and estlmates that are reasonable and prud•nt' ¢) prryjare the th￿cIal strtements (n the gokng c￿C￿n hsls unkss It Is Inappr(yrfate to prnsume thrt the 111 cMtlnue In bu51nffA' d) state whether appkable accountkng standards and statements rf rec(Ynm•nded prjttlce have been subjxt to any matffial depvturn8 dlsclogul and ￿p￿thed kn the flnanclal statements. The Dtrertors are 0 regponsble tr makntalnlng adequate accountlng r&ords ￿lch dbclw wkh rasonable Kcuracy at Jny tkne the flnanc￿l pasltlon of the c￿nPanY and whh are suftlent to Shtr￿ and explllln the crffipany'5 transattbns and enable them to ensure that the ffflanclal gtatemonts comply wkh the Companlts Act 2006 and comply wth Wulk￿5 made under the Charltles Act 2022. They are also rnsponsble fty satsjuardlng the amqts of tho company and hffice for tak1ng raasonable 5t•ps for the prevffitkn dettttkn rf fraud md ather IrreguIwki85. The Dlrectws are ab¢ re5ponslble for the (rfthe Dlrfft(Ys' report, and the responsbllty of the Independffit examlner In rdatlm to the Dlrertixs, rq>rxt Is Ilmltd to fxamknkng the rep¢Yt and ffisurfng that cffj the fac• of the rq>tyt thwe are no Inc(￿$￿tencIe9 wlth the TrJurts dlscksed In the flnanclal Stthrn￿ts. These accounts have been preparal In 4ccrydance wlth the prTr4tsk)ns appk)ble to ¢rAnp•nles subject to the small compJnle5 regkn& I approve the attachad stat•nffjt of flnandal KtMtle5 and bnce she and conflrni that I have made Mllthl8 all knfc¢matkn necessary ftr ts prepartlon. 19 aol Apprml by the Dlrectors cfi the.... Slgned (m thdr bthaif by Dtrector . Prlnt Nam&..............................................................................

OAKS COMMUNITY CHURCH NORTH EAST DERBYSHIRE (COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2024

I report to the charity trustees on my examination of the accounts of the charity for the year ended 5th April 2024 which are set out on pages 8 to 18.

Respective responsibilities of trustees and examiner

As the charity’s trustees of Oaks Community Church North East Derbyshire you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2022 (‘the Act’).

I report in respect of my examination of Oaks Community Church North East Derbyshire's accounts carried out under section 145 of the 2022 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

Since Oaks Community Church North East Derbyshire's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2022 Act. I confirm that I am qualified to undertake the examination because I am a member of the Chartered Institute of Management Accountants, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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.

…………………………………………. Shiu G W Schulz ACMA Independent Examiners Ltd Unit 2 The Broadridge Business Centre Delling Lane Bosham PO18 8NF

18 December 2024

…………………………………………. Date:

7

OAKS COMMUNITY CHURCH NORTH EAST DERBYSHIRE (COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5TH APRIL 2024

Incorporating Income & Expenditure Account

Notes
Donations & Legacies
3a
Investment Income
3b
Charitable Activities
3c
Other Income
3d
TOTAL INCOME
Costs of Charitable Activities
4a
Costs of Generating Funds
4b
NET INCOME/( EXPENDITURE)
5
Total Funds Brought Forward
TOTAL FUNDS CARRIED FORWARD
EXPENDITURE ON:
TOTAL EXPENDITURE
TRANSFERS BETWEEN FUNDS
INCOME AND ENDOWMENTS FROM:
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:		 Unrestricted
Restricted
Total
Total
Funds
Funds
2023/24
2022/23
£
£
£
£
390,699
1,876
392,575
149,768
2,782
-
2,782
689
12,344
-
12,344
18,135
125
-
125
125
405,950
1,876
407,826
168,717
142,773
2,937
145,710
176,724
30,165
-
30,165
8,778
172,938
2,937
175,875
185,502
233,012
(1,061)
231,951
(16,785)
-
-
-
-
233,012
(1,061)
231,951
(16,785)
623,734
11,935
635,669
652,454
-
-
-
856,746
10,874
867,620
635,669

All of the Charity's operations are classed as continuing operations.

The notes form part of these financial statements, found on pages 10 to 18

8

OAKS COMMUNrrY CHURCH NORTH EAST DERBYSHIRE (COMPAPIY LIMtrED BY GUARApifEE) BALANCE SHEET AS AT 5 APRIL 2024 UnreBtrfct•d Restrkt&1 Fund Fund OHw24 05-Apr-23 Flx•d TangJbl• Assets InveStM￿t Assets N(tes 707,225 707.225 475,820 707 225 707 225 475 820 Debtors & Fwayments Cash at bank Jnd In hand 17,282 135,512 17,282 146,386 2,791 160,097 10,874 874 crnd1t0￿. arn￿nts fallkng due thln one ye4r 3273 3273 3,039 149,521 lo￿74 160.395 159.849 TOTAL A&TEf6 less currqnt lablle IV74 IIV.I20 635,669 CY•dlt4My: amounts famng due kn one year PiW4DS OP THI CHARrrY Gqnqral Funds Restrktal fvnds 856.746 856,746 10.874 623,734 11,935 lo￿74 TOTAL FUNDS 8S6 87 620 669 Dlr•rtorf• m•pO￿￿1￿•￿' pop th• Ywr ended 5th WI 2024. The Dlrectors are sat1511ul the charltabk company was to VAemptlon from the rffjulrement to obtsln an audk under 5￿tkn 477 ofthe Companlas Act 2006 rkng to small companles. The membus hm nrt requtred the company to In audlt for the kn quest1￿ In acurdance S￿11￿ 476 rf the Companfes Art. Howwff, In accordance wlth sertlon 145 rf the Charftles Act 2022, the acc￿nts have be•n wimIn￿ by an Independfflt Examlnw vthL%e repLrt ¥pews after the NL¢s to the 5tat¢ments. Th• Dtrector(s) ￿kD￿lled99 th r4gponslbly ILY conplfvg th• requlrwnents of the C¢xnpans Act 2006 Ytth respect to accountlng rec¢rd5 and the preprtknn ( Kcaunts. Tho aCc￿nts have been pwared In acctydance wlh the provlslms kn Part 15 Of the Ctynpanles Act 2006 applcable to companfeB subject to the small companley r•Jlme In xccrdance FR5102 SORP. The dkqctorB xknywdge th responslbllty for ensurkng that the company kwps proper xcounthiq r￿5 whlch Comp￿ wlth 386 of the Act 2006 and for pr•parkng financ￿1 statements whlch gfve a true falr v rf the stste ¢¢ affs af the ctxnpany as at the end of the flnancllll year and cl r($ profft loss fty the flnancljl yey In accordance wlth the r￿uternent of sections 394 and 395 and whlch rtherwlse compty wlth the requlren&its of the Companles Act 2006 rdjtlng to acC￿nts, so far as appllcable to the company. 18-. ..J).eQFVv.).￿.. 204............................................... Apprrnl by the Dlrnctors on the.............. .. Slgn&l on th•tr behaifby DtrKtw.. ..... ........................................................................................................... Prknt Name: J.M .pTr1é£10fr) Company Reg￿tr&I(￿ Number . 05291244

OAKS COMMUNITY CHURCH NORTH EAST DERBYSHIRE (COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 5TH APRIL 2024

1. ACCOUNTING POLICIES

Incoming Resources

Recognition of Incoming Resources

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.

Incoming Resources 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 at the same time 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.

Volunteer Help

The value of any voluntary help received is not included in the accounts but is described in the directors' annual report.

Investment Income

This is included in the accounts when receivable.

Investment gains and losses

This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.

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

Includes costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advise to trustees on governance or constitutional matters.

10

FOR THE YEAR ENDED 5TH APRIL 2024 OAKS COMMUNITY CHURCH NORTH EAST DERBYSHIRE (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2024

1. ACCOUNTING POLICIES (continued)

Grants with performance conditions

Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.

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.

Support Costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of the resources, e.g. allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

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 £3,500. They are valued at cost or, if gifted, at the value to the charity on receipt.

Statement of compliance

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Basis of preparation

The accounts have been prepared on a going concern basis. The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Depreciation

Depreciation is calculated at a rate to write off the cost of tangible fixed assets on a reducing balance basis over their estimated useful lives. The rates applied per annum are as follows:

Equipment 25%
Fittings 10%

No depreciation is charged to freehold property as the property is maintained to such a standard that the estimated residual value is not less than cost.

This page does not form part of the statutory financial statements

11

OAKS COMMUNITY CHURCH NORTH EAST DERBYSHIRE (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2024

2. TANGIBLE FIXED ASSETS

Additions
Cost
At 6 April 2023
Revaluation Gain/(Loss)
At 5 April 2024
Accumulated Depreciation
At 6 April 2023
Charge for the Year
At 5 April 2024
Net Book Value
At 5 April 2024
At 6 April 2023		 Building -
Dronfield
Building -
Eckington
Friendship
Hall
Equipment
Fittings
2023/24
25%
10%
£
£
£
£
£
467,323
-
20,556
18,130
506,009
-
250,000
-
-
250,000
(17,323)
-
-
-
(17,323)
450,000
250,000
20,556
18,130
738,686
-
-
17,744
12,445
30,189
-
-
703
569
1,272
-
-
18,447
13,014
31,461
450,000
250,000
2,109
5,116
707,225
467,323
-
2,812
5,685
475,820

The charity acquired Eckington Friendship Hall as a gift from the charity Eckington Friendship Club on 22nd March 2024. The value of this asset is estimated to be £250,000.

The charity also placed the Dronfield building on the market in January 2024 and it was re-valued at £450,000 by SMC Brownill Vickers Chartered Surveyors, Oaks Community Church, 2-4 Lea Road, Dronfield, S18 1SB on 4th September 2023.

The annual commitments under non-cancelling operating leases and capital commitments are as follows:

5th April 2024 : None 5th April 2023 : None

This page does not form part of the statutory financial statements

12

OAKS COMMUNITY CHURCH NORTH EAST DERBYSHIRE

(COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2024

3. INCOMING RESOURCES

Note
C) Trading Activities
d) Other Income
Sales
Insurance Claims and Refund
Re:Store (Community Project)
Eckington Friendship Hall donation
Events Income
Premises Hire
Special Collections and Mission
Giving
Grant
Tax Reclaimed
b) Investment Income
Interest Received
a) Donations & Legacies
Other Donations		 Unrestricted
Restricted
Total
Total
Funds
Funds
2023/24
2022/23
£
£
£
£
2,496
-
2,496
2,772
(292)
1,876
1,584
11,065
98,894
-
98,894
88,659
5,000
-
5,000
23,650
34,601
-
34,601
23,622
250,000
-
250,000
-
390,699
1,876
392,575
149,768
2,782
-
2,782
689
2,782
-
2,782
689
7,379
-
7,379
10,384
986
-
986
4,102
3,979
-
3,979
3,630
-
-
-
19
12,344
-
12,344
18,135
125
-
125
125
125
-
125
125

This page does not form part of the statutory financial statements

13

OAKS COMMUNITY CHURCH NORTH EAST DERBYSHIRE

(COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2024

4. RESOURCES EXPENDED

Note
Hardship
b) Raising Funds
Re:Store (Community Project)
Revaluation losss on Fixed assets
Grants
Payroll Costs
Professional Fees
Governance costs:-
Independent Examiner Fee
Training
Other Gifts
Special Collections
Children and Youth Work
Travel
Utilities
Eckington
Equipment
Insurance
Maintenance
Utilities
Administration
Depreciation
Evangelism
a) Charitable Activities
Dronfield
Equipment
Insurance
Building Maintenance
Events
Gifts to Mission		 Unrestricted
Restricted
Total
Total
Funds
Funds
2023/24
2022/23
£
£
£
£
2,726
-
2,726
3,078
3,956
-
3,956
3,521
2,755
-
2,755
2,006
8,962
-
8,962
7,432
1,046
-
1,046
794
-
-
-
692
17,273
-
17,273
49,649
9,790
-
9,790
2,578
1,660
-
1,660
3,016
1,272
-
1,272
1,570
724
-
724
141
4,221
-
4,221
9,190
11,444
-
11,444
10,638
-
-
-
1,234
(14)
1,829
1,815
12,909
2,298
-
2,298
1,063
1,679
-
1,679
1,906
1,128
-
1,128
457
64,749
-
64,749
58,626
6,812
-
6,812
4,392
170
-
170
692
(1,108)
1,108
-
-
1,230
-
1,230
1,140
142,773
2,937
145,710
176,724
12,842
-
12,842
8,778
17,323
-
17,323
-
30,165
-
30,165
8,778

This page does not form part of the statutory financial statements

14

OAKS COMMUNITY CHURCH NORTH EAST DERBYSHIRE (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2024

5. RESTRICTED FUNDS

CURRENT FINANCIAL YEAR

Balance Gains & Balance
06-Apr-23 Income Expenditure (Losses) Transfer 05-Apr-24
£ £ £ £ £
Special Collections 2,045 1,876 (1,829) - - 2,092
Building Fund 1,520 - - - - 1,520
Hardship Fund 8,370 - (1,108) - - 7,262
11,935 1,876 (2,937) - - 10,874
PREVIOUS FINANCIAL YEAR
Balance Gains & Balance
06-Apr-22 Income Expenditure (Losses) Transfer 05-Apr-23
£ £ £ £ £
Special Collections 1,707 13,279 (12,941) - - 2,045
Building Fund 1,020 500 - - - 1,520
Hardship Fund 8,752 - (382) - - 8,370
11,479 13,779 (13,323) - - 11,935

The Restricted Funds are wholly represented by the Charity's cash reserves and are to be expended as specified above.

This page does not form part of the statutory financial statements

15

OAKS COMMUNITY CHURCH NORTH EAST DERBYSHIRE (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 5TH APRIL 2024

6. INVESTMENTS

The Charity held no investment assets during this or the previous financial period.

7. CASH AT BANK AND IN HAND

Inland Revenue Gift Aid
Co-Operative bank
Kingdom Bank
8. DEBTORS AND PREPAYMENTS		 Unrestricted
Restricted
Total
Total
Funds
Funds
05-Apr-24
05-Apr-23
£
£
£
£
17,395
10,874
28,269
44,762
118,117
-
118,117
115,335
135,512
10,874
146,386
160,097
Unrestricted
Restricted
Total
Total
Funds
Funds
05-Apr-24
05-Apr-23
£
£
£
£
17,282
-
17,282
2,791
17,282
-
17,282
2,791

9. CREDITORS AND ACCRUALS AMOUNTS FALLING DUE WITHIN ONE YEAR

PAYE
Pension
Independent Examiner's Fee		 Unrestricted
Restricted
Total
Total
Funds
Funds
05-Apr-24
05-Apr-23
£
£
£
£
1,626
-
1,626
1,511
417
-
417
388
1,230
-
1,230
1,140
3,273
-
3,273
3,039

10. CREDITORS AND ACCRUALS AMOUNTS FALLING DUE IN MORE THAN ONE YEAR

The Charity held no long term liabilities during this or the previous financial period.

16

OAKS COMMUNITY CHURCH NORTH EAST DERBYSHIRE (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 5TH APRIL 2024

11. STAFF COSTS AND NUMBERS

The Charity runs a PAYE scheme, as detailed below:

TOTAL
2023/24
£
Gross Salaries
61,133
Employer's National Insurance Costs
-
Pension Contributions
3,616
64,749
Employees were engaged in the following activities:
TOTAL
05/04/2024
Activities in furtherance of organisation's objects
4		 TOTAL
2022/23
£
55,606
-
3,020
58,626
TOTAL
5/4/23
4

No employees received emoluments in excess of £60,000 during the year. (2021/23- None)

12. DIRECTORS AND OTHER RELATED PARTIES

No payments were made to directors in the current finanancial year. No material transaction took place between the organisation and a director or any person connected with them. (2021/23- None)

13. RECONCILIATION OF MOVEMENT ON CAPITAL AND RESERVES

The Company is Limited by Guarantee (05291244) and it is a charity registered with the Charity Commission (1115427).

It does not have a Share capital and has no income subject to Corporation Tax.

Profit / Deficit for the financial year
Other Recognised Gains
Balance Brought Forward
Closing Funds at 05-Apr-24		 2023/24
£
231,951
-
231,951
635,669
867,620		 2022/23
£
(16,785)
-
(16,785)
652,454
635,669

This page does not form part of the statutory financial statements

17

OAKS COMMUNITY CHURCH NORTH EAST DERBYSHIRE (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 5TH APRIL 2024

14. RISK ASSESSMENT

The Directors actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Directors have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.

15. RESERVES POLICY

The Directors have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The Directors aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Directors will endeavour not to set aside funds unnecessarily.

16. PUBLIC BENEFIT

The Charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Directors' report. The Directors confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.

This page does not form part of the statutory financial statements

18