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← Wandsworth Oasis Trading Company Limited

2024-03-31-accounts

Company registered number: 03256975 Charity registered number: 1126061

WANDSWORTH OASIS TRADING COMPANY LIMITED (A Company Limited by Guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

WANDSWORTH OASIS TRADING COMPANY LIMITED

(A Company Limited by Guarantee)

CONTENTS

Page
Reference and Administrative Details of the Charity, its Trustees and Advisers 1
Trustees' Report 2 - 11
Statement of Trustees' Responsibilities 12
Independent Auditors' Report on the Financial Statements 13 - 16
Statement of Financial Activities 17
Balance Sheet 18
Statement of Cash Flows 19
Notes to the Financial Statements 20 - 38

WANDSWORTH OASIS TRADING COMPANY LIMITED

(A Company Limited by Guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024

Trustees Mr R Effs, Chair (resigned 31 August 2024)
Mr B Black (resigned 26 March 2024)
Mr J R W Rosam (resigned 22 June 2024)
Mr C Woolls
Mr R W Aldridge (resigned 18 December 2023)
Ms L A Cooper
Mr M Williams
Ms K Jackson (appointed 27 June 2023, resigned 25 June 2024)
Mr A P Collins (appointed 27 June 2023)
Mr S N Patel (appointed 27 June 2023)
Company registered
number
03256975
Charity registered
number
1126061
Registered office
Unit B204, Tooting Works,
89 Bickersteth Road
London, United Kingdom
SW17 9SH
Chief Executive Officer
Head of Retail
Mrs Christine Ansell (resigned 25 June 2024)
Ms Sarah Keeton (appointed 22 July 2024) (resigned 24 January 2025)
Ms Raewyn Jones (appointed 2 January 2025)
Mr Iain Burnett
Independent auditors
MHA
Chartered Accountants and Statutory Auditor
6th Floor
2 London Wall Place
London, United Kingdom
EC2Y 5AU
Bankers
Reliance Bank Limited
Faith House
Lovat Lane
London
EC3R 8EH

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[This draft produced on 6/6/14 19:39] WANDSWORTH OASIS TRADING COMPANY LIMITED (A company limited by guarantee)

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024

Chair Annual Report

Statement from the Co-Chairs

We are pleased to present the Trustee Annual Report for the year ended 31 March 2024. This year has been one of significant change and resilience for Wandsworth Oasis. Despite the challenges posed by increased operational costs and a competitive market, we have continued to support our community through various initiatives.

Our dedicated team of trustees, staff, and volunteers have worked tirelessly to achieve our strategic objectives. Our financial performance, while below budget, showed a year-on-year improvement with a 5% increase in total income, driven by increased sales in our shops, increased Gift Aid and fundraising activities.

Significant Organisational and Personnel Changes

At the end of this reporting period, we experienced significant organisational and personnel changes including the resignation of our Chief Executive who subsequently left the organisation in June. Seizing the opportunity, the Trustees challenged ourselves to strengthen our governance foundations. The trustees acted with integrity and in the best interests of the organisation by not rushing the appointment process. Instead, we appointed an interim CEO. This ensured stability across our operation and enabled the trustees to work with external specialists to identify strong candidates and ultimately recruit the best individuals. The support of a strong Interim CEO enabled a considered approach to our search and selection for our permanent CEO was crucial. We have a robust and capable leadership team to guide Wandsworth Oasis into the future.

We remain committed to our charitable objectives, focusing on relieving sickness among persons who are HIV positive or living with AIDS, and providing education and training to the public. Our grants programme has continued to support organisations that make a positive impact on the lives of those affected by HIV.

Looking ahead, we are focused on ensuring the longevity of Wandsworth Oasis. We will continue to enhance our retail portfolio, explore alternative revenue streams, and support our volunteers and staff in achieving their personal and professional goals. We are confident that with the continued support of our stakeholders, we will navigate the challenges ahead and continue to make a meaningful difference in our community.

We extend our heartfelt gratitude to everyone who has contributed to our success this year. Together, we will continue to build a brighter future for those we serve.

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[This draft produced on 6/6/14 19:39] WANDSWORTH OASIS TRADING COMPANY LIMITED (A company limited by guarantee)

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024

The Trustees present their report and financial statements for the year ended 31 March 2024. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. The financial statements have been prepared in accordance with the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Ireland (Charities SORP (FRS 102)) and applicable UK accounting standards.

Structure

Wandsworth Oasis Trading Company Limited (Wandsworth Oasis) is a registered charity number 1126061 and company limited by guarantee, number 03256975, governed by its memorandum and articles registered on 26 July 2008 and amended by special resolution on 22 November 2015.

Governance (Trustees)

The Board of Trustees comprises at the balance sheet date of eight trustees who are also Directors of the Company. They are elected by its members. Term limits for trustees are not defined in our governing documents and the board continues to benefit from the experience and input of our longest serving member Chris Woolls. Mr Woolls has 10 years continuous service which is noted here as per governance best practice. Trustees are the sole members of the charity. The board is a voluntary management committee and has ultimate responsibility for Wandsworth Oasis. As stated in our governing documents, the board will consist of a minimum of 3 and maximum of 12 trustees.

The charity’s three-year strategy was re-visited during a Trustee & Senior Leadership Team away day on 14 February 2024 with the support of the Worshipful Company of Management Consultants once again. We are grateful for their assistance. The awayday focused on achievements to date on delivery of our strategic objectives and discussion on the direction of our 2024-27 strategy document.

At the quarterly meetings, the trustees agree the broad strategy and areas of activity for the charity, including consideration of grant making policy, risk management, reserves policy and investment. The board delegates operational responsibility and implementation of policy decisions to the Chief Executive Officer who has accountability for the Senior Leadership Team.

All trustees give of their time freely and no remuneration was paid in this year. Details of trustee expenses and related party transactions are disclosed in notes to the accounts. The trustees have also developed a code of conduct which includes a formal statement of roles and responsibilities and a disclosure of interests. Trustees are required to disclose all relevant interests and register them with the Chief Executive and in accordance with the charity’s policy withdraw from any decisions where a conflict of interest arises.

The charity has in force during the budget year, qualifying third party indemnity provision for the benefit of the trustees.

Management (Senior Leadership Team)

The Chief Executive remains responsible for the day-to-day operations of the charity and is supported by the Senior Leadership Team. At year end there were five employees in the head office and eighteen members of staff across our retail and back-office operations. Wandsworth Oasis continues to outsource HR management and where required seeks professional advice.

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[This draft produced on 6/6/14 19:39] WANDSWORTH OASIS TRADING COMPANY LIMITED (A company limited by guarantee)

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024

Risk Management

The Trustees understand that they have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to mitigate against these risks. The Trustees recognise that, in the dynamic environment in which the charity operates, the risks encountered are continually changing.

During the year, a new Risk & Internal Audit Committee was set up to focus on risk management for the charity. Coaching where required was provided to both the Senior Leadership Team and the Trustees around enterprise risk management techniques.

Our approach to risk management is centred around a departmental and corporate risk registers. Risks across the business are rated based on impact (1-5) and likelihood (1-5), scores are provided both pre and post controls (gross vs net risk) and assigned a risk owner within the Senior Leadership Team to manage on a day-to-day basis. Items from the departmental registers are taken to the corporate risk register, which in turn is reviewed by the Risk & Internal Audit Committee on a regular basis.

At year-end there were 14 risks identified in the corporate risk register of which 4 were scored greater than 12 on a net basis. Below is an extract from the corporate risk register at the year-end, with a description of the highest risks (>12) that are currently being carried by the charity. All 14 risks have controls in-place to either mitigate, manage, or transfer the risks as appropriate.

Health, Safety &Wellbeing
H&S Compliance Retail If the H&S policy and procedure is not enforced across all WO operations it
may lead to accident or injury for staff or customers. This may result in injury
of workforce, increased pressure on existing staff, breach of H&S legislation
and penaltynotice or fines,negativereputationaldamage.
Compliance & Governance
Poorly defined and executed
governance procedures		 If our governance processes are not compliant with regulatory requirements
or recognised good practice. Then we will be in breach of our regulatory and
legal obligations to the Charity Commission and Companies House. This may
result in the charity losing its status as a charity, fines, or legal proceedings
againstTrustees and/orSLT.
Trustee Expectation and
Development		 If we do not have full Trustee engagement in the work of the charity, including
the strategy document and associated work streams. It may lead to negative
impact on SLT in implementing changes and continuing operational tasks
effectively and reducing operational capacity. Resulting in the strategy not
being delivered ontime andmeeting ourcharitable objectives.
Operational
Workforce skills shortage
leads to increased turnover
and poor wellbeing		 If we are not able to attract and retain the right skills to the vacancies. Then it
may lead to a skills shortage across the WO portfolio. This may result in an
inability to meet financial targets and strategic objectives and create undue
pressure onthe existingworkforce

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WANDSWORTH OASIS TRADING COMPANY LIMITED (A company limited by guarantee)

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024

Going concern assessment

The challenges the charity has faced during 2023/24 have primarily been related to increases in operational costs, continued challenges around recruitment and retention of quality staff, and limited income growth in revenue streams.

Whilst for 2023/24 Wandsworth Oasis made an operating loss of £18k, the Balance Sheet and reserves position remained healthy, and the charity was able to make grants, albeit at a reduced level than in prior years.

The trustees remain confident the charity will continue to be a going concern. This is further supported by our budget planning and projected outturn.

Objectives and activities for public benefit

Our charitable objects set out in the Memorandum of Association are to relieve sickness amongst persons who are HIV positive or living with AIDS or those affected by HIV/AIDS, by the provision of care, support, and counselling to those who are HIV positive and people with AIDS and their families and people caring for such persons in particular in the London Borough of Wandsworth, and provide education and training to members of the public in the needs of such persons living with HIV/AIDS and in the better understanding of AIDS.

The trustees confirm that they 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 future activities and setting the grant making policy for the year. We are primarily a fundraising organisation and are not equipped to administer the casework involved in administering direct support for large numbers of individuals. We will continue to work predominantly through other charities that can help us achieve our aims by funding projects which will be of benefit to our target client group. Our grants programme is regularly under review to ensure it remains current and relevant.

Ensuring our work delivers public benefit

During 2023/24 the charity updated it is grants application and monitoring processes to ensure Wandsworth Oasis continues to maximise the benefits in the communities our grant recipients operate in and therefore our indirect reach.

As a grant giver, Wandsworth Oasis uses an application form to assess the potential benefit of each piece of work that is funded. Each charity that receives funding from Wandsworth Oasis is required to provide an impact report at the end of the funded year.

Wandsworth Oasis also looks at the value our shops provide in terms of waste kept out of landfill and cost savings to the local council, alongside the opportunities that are given to local people to enter the paid or volunteer workforce.

Grant Making Policy

Funds are given to organisations who, in the assessment of the Grants Committee and approval of the board, will provide a positive impact on people living with HIV. There is a predominant focus on London boroughs and to charities that provide information that raising awareness about HIV and how it can be prevented.

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WANDSWORTH OASIS TRADING COMPANY LIMITED (A company limited by guarantee)

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024

The programme is advertised on local forums, the website and in specialist press and is proactively communicated within the HIV sector. Applications presented in the correct format are reviewed against the criteria by the Board of Trustees following recommendations from the Grants Committee.

Staff visit each of the charities supported at least once in the year following the grant to establish that the funds are being used for the purposes given and to gain a greater understanding of the work of the sector and its emerging challenges.

How our grant programme delivers public benefit

Grant recipients offer support to their specific HIV beneficiaries in a variety of ways. Below are some examples of how our funding is being deployed.

Positive East

The ReAssure Women’s Project remains London’s only tailored service for female asylum seekers / refugees who are HIV positive, who have experienced domestic abuse, are survivors of rape, and who are all at an increased risk of poor mental health, co-morbidities, non-adherence to anti-retroviral medication and increased further abuse. Due to the grant support received from Wandsworth Oasis Positive East have been able to successfully support 90 plus women, providing them with 1:1 clinical psychology, access to workshops and peer support, and skill building opportunities.

Over the course of the project the women have increased their knowledge regarding sexual health & HIV, sexual rights & sexual wellbeing, and their ability to speak of these matters. The participants reported an increase in their use of strategies for managing abusive behaviour within relationships and disclosing their HIV status. They also showed increased self-esteem levels and lower levels of depression and anxiety.

St Georges Hospital Courtyard Clinic

The Courtyard Clinic supports the holistic wellbeing of people living with HIV by providing a massage and reflexology service. For many individuals living with HIV, chronic body and joints pain are a constant reminder of their condition and the provision of a massage service lowers the physical pain endured and levels of stress, in addition to alleviating tiredness.

The River House Trust

Their mission is ‘a better life for people with HIV’ and focus is on supporting people as they grow into older age; particularly if they are affected by poverty. The three main aims are

The River House Trust provides direct support for 100 plus isolated people living with HIV from an older community through peer lunches, and foodbank services for 60 plus disadvantaged individuals.

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WANDSWORTH OASIS TRADING COMPANY LIMITED (A company limited by guarantee)

[This draft produced on 6/6/14 19:39]

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024

The Food Chain (UK) Ltd

With the increase in cost of living during the year, the charity has donated to this food bank organisation to support the community in times of hardship and provide nutritional guidance to improve their everyday lives.

The ultimate beneficiaries of our grant programme are some of the most marginalised within our society; the trans and non-binary communities, LGBTQI+, people living with HIV/AIDS and the associated stigma, BAME and those living on or below the poverty line.

The trustees believe supporting programmes in the community that support individuals living with HIV, education to reduce impact of HIV on everyday lives is important and meets our charitable objectives.

Our Volunteers

The trustees and staff appreciate the contribution of volunteers. We aim to give all individuals an opportunity to contribute, whether it is to improve their language skills, to gain work experience, to give them much needed structure in their live or simply an opportunity to interact with others.

The main activities undertaken by volunteers are customer relations; sorting and pricing donations; shop related financial transactions; shop and window display; and loading and unloading customer vehicles. Volunteer availability continues to be a challenge in an incredibly competitive sector and therefore we continue to look at activities to retain and attract this workforce.

Green agenda

We received income from recyclers of £42k during the year. This roughly equates to about one hundred tonnes of textiles being kept out of landfill and many tonnes of books being recycled or donated to education establishments across the world.

We continue to look at alternative ways of disposing of unsaleable items to keep income levels as high as possible.

Financial performance 2023/24

Our financial performance was weaker than budgeted for the year, with both income (10%) and expenditure (9%) below the budget set by the trustees. Nevertheless, our year-on-year performance was good with an increase in income and a proportionately smaller increase in costs resulting in a small loss for the year of £18k. We achieved this through the tireless work of our staff teams and volunteers and the continuous support of our donors against a highly competitive and shrinking market.

We estimate to have lost circa 15% of potential annual trading hours with shop closures due to staff sickness or shortages, plus planned maintenance work to comply with Health and Safety regulations. In addition, one shop suffered a closure due to a flood.

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WANDSWORTH OASIS TRADING COMPANY LIMITED (A company limited by guarantee)

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024

Income Generation

Our total income generated for 2023/24 was £1.34m, which represents almost 5% increase, compared to 2022/23. Income growth was generated by increased sales in our shops and the associated increase in Gift Aid on these sales in tandem with an increase in donations and funds from fundraising activities. During the year we closed a loss-making shop (Garratt Lane) and opened a new shop (Islington) which contributed to the positive performance.

Retail Sales continue to grow post pandemic as illustrated below:

We continue to regularly monitor the individual profitability of each shop and take steps for improvement or divestment if required.

Our Gift Aid receipt for 2023/24 was £83k versus £75k in the previous year. The increase demonstrates the effort and energy put into onsite training to encourage new registrations to the scheme during the year.

Our income generated from recyclers came in at the same level as 2022/23 at £42k. Prices in the market are significantly lower than prior years and therefore there is an ongoing downward trend in this income stream.

Expenditure

Our total annual expenditure for the year to 31 March 2024 was £1.36m Our grants disbursed for charitable activities of £78k forming 6% of total income (down 2% year on year). Cost discipline ensured that costs came in lower and below budget to offset shortfalls in the budgeted income.

We strive to optimise our staff numbers and make up, to improve our skills mix. Staff costs represent a substantial portion of our operational requirements and form 47% of our total expenditure for the year. The next highest cost categories are rents, at 25% of total expenditure and Utilities at 3%, both of which we have limited influence over currently.

In the recent budget years, we aimed to build operational reserves that would support the management of any foreseeable risks. Wandsworth Oasis retained a strong cash position which is maintained within our target for three months of operational reserves.

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[This draft produced on 6/6/14 19:39] WANDSWORTH OASIS TRADING COMPANY LIMITED (A company limited by guarantee)

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024

Grants Awarded

We approved and disbursed beneficiary funding totalling £78k to organisations collaborating directly with people living with and affected by HIV and for HIV awareness and prevention activities.

Here is a summary of the grants awarded in 2023/24.

Policy on Reserves

The trustees annually review the reserves of the charity to ensure appropriate levels are retained to meet future demands, contingencies, and commitments through review of the Reserves Policy. However, the reserve position is monitored monthly through the internal management accounts to ensure adequate cash is available for operational integrity.

At the end of the budget year the breakdown of our reserve is as follows:

The retained funds will maintain the infrastructure and future development of the charity and its volunteers and staff whilst also continuing to support charities that collaborate with people affected by HIV.

The primary fundraising activities of our organisation arise from the sale of donated goods in our nine shops and the trustees are not aware of any immediate material uncertainty, disclosures or events that could trigger insolvency in the next 12 months.

Remuneration and HR

The Nominations Committee’s key responsibility and activities include reviewing the staff structure of Wandsworth Oasis, its skills set, knowledge and experience. The Nominations Committee annually evaluate staff’s level of pay to comply with changes of employment law, taxation, and remuneration. Wandsworth Oasis is aiming to embed a culture of high performance that allows our people to thrive and reach their full potential.

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WANDSWORTH OASIS TRADING COMPANY LIMITED (A company limited by guarantee)

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024

Staff across the whole organisation and the shops have been integral in developing our work and participating in major organisational initiatives.

Sadly, we need to report during the year we had to dismiss one staff member for minor fraud through theft. We continue to consider mechanisms to prevent fraud including CCTV and Point of Sale software audits, and by ensuring adequate checks and balances during new staff on-boarding.

Related Party Transactions

During the year Wandsworth Oasis had the following transactions with other organisations in which a trustee had interests.

The charity made grants totalling £25,715 to the River House Trust, (registered charity (England & Wales) no. 1059696) of which Chris Woolls is Executive Director, this was also disclosed in prior years as was part of a final instalment of a three-year agreement.

Looking to the future

As trustees, we are committed to ensuring longevity of Wandsworth Oasis and look forward to working with our internal and external stakeholders in the coming budget year. Some areas of focus underpinning our strategy are for 2024/25:

Building on last year's communications plan around our values, we aim to reinforce the One Charity, One Team focus for all staff and volunteers. We are committed to ensuring everyone in our team feels valued, informed, and supported.

Post Balance Sheet Events

Subsequent, to the conclusion of the 2023/24 fiscal year, there have been significant events necessitating the intervention of the Trustees and Senior Leadership. The key items of note are as follows:

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[This draft produced on 6/6/14 19:39] WANDSWORTH OASIS TRADING COMPANY LIMITED (A company limited by guarantee)

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024

Key Personnel Changes

The departure of the CEO and the resignation and departure of the Senior Finance Manager has necessitated engaging with a third-party recruitment agency to hire both an interim CEO to ensure continuous operation and to conduct an extended search for a permanent CEO. As of the time of this report, a new CEO has been appointed. Initially the Senior Finance Manager role was covered by a temporary worker but during November 2024 a new model was implemented: outsourcing to a company that is experienced in charity accounts and provides continuity and expertise to de-risk the finance function.

Governance

During the 2024/25 period, the loss of further trustees, including the chair and two other members, led to the formation of two board working groups: (1) Staff and Trustee Recruitment, and (2) Ensuring the ongoing viability of the charity. Upon satisfactory progress, these working groups were re-integrated into the board. As of the publication date, the trustees had suspended all sub-committees due to the reduced number of active trustees. The plan into Q4 24/25 is to re-instate the Finance & Risk Committee with new TORs. All trustees have participated in a tailor made “Duties of the Trustee” workshop which was designed and delivered by an external facilitator. We have also been successful in recruiting two new trustees who will be onboarded during Q4 24/25. They bring a wealth of experience to complement the existing trustee talent.

The Charity was also successful in closing our loss-making store at Battersea (B2) to further enhance retail portfolio management.

During this time of turbulence, the trustees have continued to support the charity, intervened or supported where necessary, and reserves remain strong.

This report was approved and authorised for issue by Wandsworth Oasis Board of Trustees and signed on its behalf by:

……………………………………….

Mr A P Collins

Chair

Date: 23/01/2025

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WANDSWORTH OASIS TRADING COMPANY LIMITED

(A Company Limited by Guarantee)

STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024

The Trustees (who are also the Directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

Approved by order of the Members of the Board of Trustees and signed on its behalf by:

................................................

Mr A P Collins

Chair Date: 23/01/2025

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WANDSWORTH OASIS TRADING COMPANY LIMITED

(A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WANDSWORTH OASIS TRADING COMPANY LIMITED

Opinion

We have audited the financial statements of Wandsworth Oasis Trading Company Limited (the 'Charity') for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

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

Conclusions relating to going concern

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

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

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

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(A Company Limited by Guarantee)

WANDSWORTH OASIS TRADING COMPANY LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WANDSWORTH OASIS TRADING COMPANY LIMITED (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees

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

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(A Company Limited by Guarantee)

WANDSWORTH OASIS TRADING COMPANY LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WANDSWORTH OASIS TRADING COMPANY LIMITED (CONTINUED)

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

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

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WANDSWORTH OASIS TRADING COMPANY LIMITED

(A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WANDSWORTH OASIS TRADING COMPANY LIMITED (CONTINUED)

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 Auditors' 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 its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Stuart McKay BSc FCA DChA (Senior Statutory Auditor)

for and on behalf of

MHA

Statutory Auditor London, United Kingdom

Date: 29/01/2025

MHA is the trading name of MacIntyre Hudson LLP, a limited liability partnership in England and Wales (registered number OC312313)

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WANDSWORTH OASIS TRADING COMPANY LIMITED

(A Company Limited by Guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

Note
Income from:
Donations and grants
4
Other trading activities
5
Investments
6
Total income
Expenditure on:
Raising funds
7
Charitable activities:
8,9
Awareness
Hardship
Support
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2024
£
108,474
1,225,311
5,995
1,339,780
1,242,469
-
6,997
108,105
1,357,571
(17,791)
678,007
(17,791)
660,216		 Total
funds
2024
£
108,474
1,225,311
5,995
1,339,780
1,242,469
-
6,997
108,105
1,357,571
(17,791)
678,007
(17,791)
660,216		 Total
funds
2023
£
84,786
1,190,484
1,907
1,277,177
1,126,830
9,632
5,070
134,185
1,275,717
1,460
676,547
1,460
678,007

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

The notes on pages 20 to 38 form part of these financial statements.

Page 17

WANDSWORTH OASIS TRADING COMPANY LIMITED

(A Company Limited by Guarantee) REGISTERED NUMBER: 03256975

BALANCE SHEET AS AT 31 MARCH 2024

2024 2024 2024 2023 2023 2023
Note £ £ £ £
Fixed assets
Tangible assets 14 88,601 85,479
88,601 85,479
Current assets
Debtors: Amounts falling due within one year 15 244,745 231,428
Cash at bank and in hand 21 418,803 516,498
663,548 747,926
Creditors: Amounts falling due within one
year 16 (43,273) (121,812)
Net current assets 620,275 626,114
Total assets less current liabilities 708,876 711,593
Provisions for liabilities (48,660) (33,586)
Total net assets 660,216 678,007
Charity funds
General funds 18 660,216 678,007
Total unrestricted funds 18 660,216 678,007
Total funds 660,216 678,007

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

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

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

................................................

Mr A P Collins

Chair Date: 23/01/2025

The notes on pages 20 to 38 form part of these financial statements.

Page 18

WANDSWORTH OASIS TRADING COMPANY LIMITED

(A Company Limited by Guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024

Note
Cash flows from operating activities
Net cash used in operating activities
20
Cash flows from investing activities
Investment income
6
Purchase of tangible fixed assets
14
Net cash used in investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
21		 2024
£
(84,454)
5,995
(19,236)
(13,241)
(97,695)
516,498
418,803		 2023
£
(28,508)
1,907
(46,631)
(44,724)
(73,232)
589,730
516,498

The notes on pages 20 to 38 form part of these financial statements

Page 19

(A Company Limited by Guarantee)

WANDSWORTH OASIS TRADING COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. General information

Wandsworth Oasis Trading Company Limited is a charitable company limited by guarantee and is registered with the Charity Commission (Charity Registered Number 1126061) and the Registrar of Companies (Company Registration Number 03256975) in England and Wales.

In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per Member of the Charity.

The address of the registered office is given in the Charity information on page 1 of these financial statements. The nature of the Charity’s operations and principal activities are as shown in the Trustees Report.

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

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Wandsworth Oasis Trading Company Limited 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.

The financial statements have been presented in pound sterling, which is also the functional currency of the Company, and are rounded to the nearest pound.

2.2 Going concern

The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the Charity to be able to continue as a going concern.

Page 20

WANDSWORTH OASIS TRADING COMPANY LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. Accounting policies (continued)

2.3 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

2.5 Taxation

The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Page 21

WANDSWORTH OASIS TRADING COMPANY LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. Accounting policies (continued)

2.6 Intangible assets and amortisation

Intangible assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.

Amortisation is provided on the following basis:

Software and Website

2.7 Tangible fixed assets and depreciation

Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following bases:

Leasehold improvements - Over the life of the lease - Office equipment 20% straight line - Computer equipment 20% straight line

2.8 Debtors

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

2.9 Cash at bank and in hand

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

Page 22

(A Company Limited by Guarantee)

WANDSWORTH OASIS TRADING COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. Accounting policies (continued)

2.10 Liabilities

Liabilities and provisions are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

2.11 Financial instruments

The Company only holds basic Financial Instruments. The financial assets and financial liabilities of the Company are as follows:

Debtors – trade and other debtors (including accrued income) are basic financial instruments and are debt instruments measured at amortised cost as detailed in Note 15. Prepayments are not financial instruments.

Cash at bank – is classified as a basic financial instrument and is measured at face value.

Liabilities – trade creditors, accruals and other creditors will be classified as financial instruments, and are measured at amortised cost as detailed in Note 16. Taxation and social security are not included in the financial instruments disclosure. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is simply an obligation to deliver services rather than cash or another financial instrument.

2.12 Operating leases

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the lease term.

2.13 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

Page 23

WANDSWORTH OASIS TRADING COMPANY LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. Accounting policies (continued)

2.14 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

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

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

Investment income, gains and losses are allocated to the appropriate fund.

3. Critical accounting estimates and areas of judgement

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Page 24

WANDSWORTH OASIS TRADING COMPANY LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

4. Income from donations

Donations
All donations in the prior year were unrestricted.		 Unrestricted
funds
2024
£
108,474		 Total
funds
2024
£
108,474		 Total
funds
2023
£
84,786

5. Income from other trading activities

Sales of Donated Goods
Recycling and Delivery
Fundraising and Events		 Unrestricted
funds
2024
£
1,176,297
41,625
7,389
1,225,311		 Total
funds
2024
£
1,176,297
41,625
7,389
1,225,311		 Total
funds
2023
£
1,126,327
48,287
15,870
1,190,484

All income from trading activities in the prior year was unrestricted.

6. Investment income

Unrestricted Total Total
funds funds funds
2024 2024 2023
£ £ £
Deposit account interest 5,995 5,995 1,907

All investment income in the prior year was unrestricted.

Page 25

(A Company Limited by Guarantee)

WANDSWORTH OASIS TRADING COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

7. Expenditure on raising funds

Unrestricted Total
funds funds
2024 2024
£ £
Cost of raising funds 1,242,469 1,242,469

Included within cost of raising funds are direct costs of £1,006,243 (2023 - £917,493) and support costs of £236,226 (2023 - £209,337) . The support costs are outlined below.

Cost of raising funds
Raising funds - Support costs
Staff costs
Property costs
Governance costs (Note 10)
Professional fees
Overheads		 Unrestricted
funds
2023
£
1,125,080		 Restricted
funds
2023
£
1,750
2024
£
46,658
17,298
64,931
10,266
97,074
236,227		 Total
funds
2023
£
1,126,830
2023
£
56,171
18,570
62,087
7,106
65,403
209,337

Page 26

WANDSWORTH OASIS TRADING COMPANY LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

8. Analysis of expenditure on charitable activities - by fund

Awareness
Hardship
Support		 Unrestricted
funds
2024
£
-
6,997
108,105
115,102		 Total
2024
£
-
6,997
108,105
115,102		 Total
2023
£
9,632
5,070
134,185
148,887

All expenditure on charitable activities in the prior year was unrestricted.

Page 27

WANDSWORTH OASIS TRADING COMPANY LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

9. Analysis of expenditure by charitable activities - by type

Hardship
Support		 Activities
undertaken
directly
2024
£
942
14,551
15,493		 Grant
funding of
activities
2024
£
4,725
73,000
77,725		 Support
costs
2024
£
1,330
20,554
21,884		 Total
funds
2024
£
6,997
108,105
115,102

Details of the grants paid in the year, including those paid to institutions, have been included in the Trustees Report.

Awareness
Hardship
Support		 Activities
undertaken
directly
2023
£
1,282
675
17,856
19,813		 Grant
funding of
activities
2023
£
6,560
3,453
91,400
101,413		 Support
costs
2023
£
1,790
942
24,929
27,661		 Total
funds
2023
£
9,632
5,070
134,185
148,887

Page 28

(A Company Limited by Guarantee)

WANDSWORTH OASIS TRADING COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

9. Analysis of expenditure by charitable activities - by type (continued)

Analysis of support costs

Staff costs
Property Costs
Overheads
Governance Costs (Note 10)
Professional Fees		 Total
funds
2024
£
4,323
1,602
8,993
6,015
951
21,884		 Total
funds
2023
£
7,423
2,454
8,642
8,203
939
27,661

10. Governance costs

Auditor's remuneration - Audit of the financial statements
Auditor's remuneration - Accountancy and other fees
Auditor's remuneration - Under accrual of prior year fees
Board meetings
Staff costs - SMP board support
Trustees expenses		 2024
£
13,750
3,500
-
1,130
52,333
233
70,946		 2023
£
13,250
4,000
1,000
2,495
49,335
210
70,290

Governance costs of £70,946 (2023 - £70,290) are represented by £6,015 (2023 - £8,203) expenditure on charitable activities and £64,931 (2023 - £62,087) of expenditure on raising funds.

Page 29

(A Company Limited by Guarantee)

WANDSWORTH OASIS TRADING COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

11. Staff costs

Wages and salaries
Social security costs
Pension costs		 2024
£
561,729
43,544
30,678
635,951		 2023
£
508,905
42,143
28,458
579,506

The total termination benefits for the year were £NIL (2023 - £1,450) of which £NIL (2023 - £NIL) were non-contractual benefits. No amounts are outstanding as at the year-end (2023 - £NIL).

The average number of persons employed by the Charity during the year was as follows:

2024 2023
No. No.
Staff 23 21

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2024 2023
No. No.
In the band £60,001 - £70,000 - 1
In the band £70,001 - £80,000 1 -

Key Management Personnel are considered to be the Trustees and Senior Management of the Charity, being the Chief Executive Officer, Head of Retail and Head of Finance.

The total cost of employment of the Key Management Personnel was £182,046 (2023 - £180,306).

Page 30

WANDSWORTH OASIS TRADING COMPANY LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

12. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL) .

During the year ended 31 March 2024, expenses totalling £ 752 were reimbursed or paid directly to 1 Trustee (2023 - £210 to 1 Trustee). This was in respect of travel and printing expenses.

13. Intangible assets

Cost
At 1 April 2023
At 31 March 2024
Amortisation
At 1 April 2023
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023		 Software
and Website
£
27,590
27,590
27,590
27,590
-
-

Page 31

(A Company Limited by Guarantee)

WANDSWORTH OASIS TRADING COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

14. Tangible fixed assets

Cost or valuation
At 1 April 2023
Additions
At 31 March 2024
Depreciation
At 1 April 2023
Charge for the year
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023
15.
Debtors
Due within one year
Trade debtors
Rent deposits
Prepayments and accrued income		 Leasehold
Improvements
£
126,218
14,558
140,776
41,964
14,335
56,299
84,477
84,254		 Computer
equipment
£
27,480
4,678
32,158
26,255
1,779
28,034
4,124
1,225
2024
£
18,500
86,962
139,283		 Total
£
153,698
19,236
172,934
68,219
16,114
84,333
88,601
85,479
2023
£
62,525
71,129
97,774
244,745 231,428

Page 32

WANDSWORTH OASIS TRADING COMPANY LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

16. Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Grants payable
Accruals		 2024
£
15,355
14,668
-
13,250
43,273		 2023
£
16,919
6,943
81,400
16,550
121,812

17. Provisions

At 1 April 2023
Additions		 End of
Lease
Dilapidation
£
33,586
15,074
48,660

A provision has been made for end of lease dilapidations costs of the current shop portfolio of Wandsworth Oasis. The costs were estimated using comparative previous refurbishment works in the organisation.

Page 33

WANDSWORTH OASIS TRADING COMPANY LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

18. Statement of funds

Statement of funds - current year

Unrestricted funds
Designated funds
Retail Strategy Fund
General funds
General Funds
Total Unrestricted funds
Restricted funds
Website
Total of funds		 Balance at 1
April 2023
£
-
678,007
678,007
-
678,007		 Income
£
-
1,339,780
1,339,780
-
1,339,780		 Expenditure
£
-
(1,357,571)
(1,357,571)
-
(1,357,571)		 Transfers
in/out
£
-
-
-
-
-		 Balance at
31 March
2024
£
-
660,216
660,216
-
660,216

Page 34

WANDSWORTH OASIS TRADING COMPANY LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

18. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
Designated funds
Retail Strategy Fund
General funds
General Funds
Total Unrestricted funds
Restricted funds
Website
Total of funds
Restricted funds		 Balance at
1 April 2022
£
150,000
524,797
674,797
1,750
676,547		 Income
£
-
1,277,177
1,277,177
-
1,277,177		 Expenditure
£
-
(1,273,967)
(1,273,967)
(1,750)
(1,275,717)		 Transfers
in/out
£
(150,000)
150,000
-
-
-		 Balance at
31 March
2023
£
-
678,007
678,007
-
678,007

The Website fund represents a grant received for the creation of a new website which was utilised in the year.

Page 35

(A Company Limited by Guarantee)

WANDSWORTH OASIS TRADING COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

19. Analysis of net assets between funds

Analysis of net assets between funds - current period

Unrestricted
funds
2024
£
Tangible fixed assets
88,601
Current assets
663,548
Creditors due within one year
(43,273)
Provisions for liabilities and charges
(48,660)
Total
660,216		 Total
funds
2024
£
88,601
663,548
(43,273)
(48,660)
660,216

Analysis of net assets between funds - prior period

Tangible fixed assets
Current assets
Creditors due within one year
Provisions for liabilities and charges
Total		 Unrestricted
funds
2023
£
85,479
747,926
(121,812)
(33,586)
678,007		 Total
funds
2023
£
85,479
747,926
(121,812)
(33,586)
678,007

Page 36

(A Company Limited by Guarantee)

WANDSWORTH OASIS TRADING COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

20. Reconciliation of net movement in funds to net cash flow from operating activities

Net income/expenditure for the period (as per Statement of
Financial Activities)
Adjustments for:
Depreciation charges
14
Amortisation charges
13
Investment income
6
Increase in debtors
15
Decrease in creditors
16
Increase in provision end of lease dilapidation
17
Net cash used in operating activities
21.
Analysis of cash and cash equivalents
Cash in hand
Total cash and cash equivalents
22.
Analysis of changes in net debt
At 1 April
2023
£
Cash at bank and in hand
516,498
516,498		 2024
£
(17,791)
16,114
-
(5,995)
(13,317)
(78,539)
15,074
(84,454)
2024
£
418,803
418,803
Cash flows
£
(97,695)
(97,695)		 2023
£
1,460
16,836
4,268
(1,907)
(19,899)
(31,046)
1,780
(28,508)
2023
£
516,498
516,498
At 31 March
2024
£
418,803
418,803

Page 37

(A Company Limited by Guarantee)

WANDSWORTH OASIS TRADING COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

23. Pension commitments

The Charity operates a defined contribution pension plan for its employees. The amount recognised as an expense in the period was £30,678 (2023 - £28,458). At the year end, there were outstanding contributions of £NIL included in Other creditors (2023 - £NIL).

24. Operating lease commitments

At 31 March 2024 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:

Land and Buildings
Not later than 1 year
Later than 1 year and not later than 5 years
Later than 5 years		 2024
£
340,167
1,017,250
407,500
1,764,917		 2023
£
316,500
1,107,125
547,000
1,970,625

The following lease payments have been recognised as an expense in the Statement of Financial Activities:

2024 2023
£ £
Operating lease rentals 345,092 334,176

25. Related party transactions

The Charity made grants totalling £25,715 in the year (2023 - £28,353) to The River House Trust (registered charity (England & Wales) no. 1059696) of which Chris Woolls is Executive Director.

As at the year-end, £NIL was owed to The River House Trust (2023 - £25,000) .

Page 38

Wandsworth Oasis - Accounts and Trustees Report FINAL

Final Audit Report

2025-01-29

Created: 2025-01-23 By: Raewyn Jones (raewyn@wandsworthoasis.org.uk) Status: Signed Transaction ID: CBJCHBCAABAAtGU46MHI8vlyE8ldmrKtqh1W_sg7xJWw

"Wandsworth Oasis - Accounts and Trustees Report FINAL" His tory

2025-01-23 - 5:56:33 PM GMT

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2025-01-23 - 8:13:34 PM GMT

2025-01-23 - 8:15:56 PM GMT

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