2024-06-30-accounts - Oxygen House Foundation

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Registered Charity number 1131659

Oxygen House Foundation

Report of the Trustees and Financial Statements for the Year Ended

30 June 2024

Oxygen House Foundation Contents of the Financial Statements for the year ended 30 June 2024

	Page
Report of the Trustees	1 to 3
Report of the Independent Examiner	4
Statement of Financial Activities	5
Balance Sheet	6
Notes to the Financial Statements	7 to 10
Detailed Statement of Financial Activities	11

Oxygen House Foundation Report of the Trustees

The trustees present their report with the financial statements for the year ended 30 June 2024.

The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.

Registered Charity Number

1131659

Operational Address

Oxygen House Grenadier Road Exeter EX1 3LH

Trustees:

Mr A Altman	Mr M Haynes
Mrs A Clark	Mr M Manton
Mrs A Fowler	Mr M Symons
Ms C Pym	Mr M West
Mr C Williamson	Mr P Jones
Mr D Bromley	Mr R Dutton
Mr D Smith	Mr R Howard
Ms D Stead	Mr R Olsson
Dr DJ Irons	Mr S Buckley
Mrs E Adams	Mr S Esgate
Dr E Dixon	Mr S Evans
Mr E Kirby	Mr S Thorner
Mr GJ Littler	Mr S Witts
Mr G Pawley	Mr T Bloom
Mr I Sutton	Mr T Deaneworth
Mr J Burgess	Mr T Houlden
Mr J Robertson	Mr TJ Landy
Mr K Smith	Dr T Paulden
Mrs K Williamson	Ms V Cobb

Executive Trustees for Oxygen House Foundation are:

Mrs G Anderson (Treasurer) Mr M Gingell Mr S Lees Mr S Doherty

Bankers Lloyds Bank 234 High Street Exeter Devon EX4 3NL	Accountants
	Oakleys Pitt Farm Cullompton Devon EX15 3BY

Oxygen House Foundation Report of the Trustees

Structure, Governance and Management

Governing Document

Oxygen House Foundation (formerly ATASS Foundation) is a registered charity, number 1131659 and is constituted under a Trust Deed dated 6th August 2009.

Recruitment and appointment of new trustees

The Trust Deed provides for a minimum of 3 trustees. New trustees are automatically appointed through donating to the Foundation and the 4 first executive trustees check that there are no reasons for them not to be offered trusteeship under the rules of the Charities Commission.

Induction and training of new trustees

The Trust Deed for the Foundation, as well as general information on the structure of the charity is available on the Oxygen House intranet. New trustees are encouraged to familiarise themselves with the relevant Charity Commission publications on what is required of a charity trustee.

Organisational structure

The charity has a board of 4 Executive Trustees and a board of 30 Non-Executive Trustees.

The board of trustees meet regularly throughout the year and at each meeting discuss any matters that arise, and the trustees seek independent advice where necessary regarding the governance and management of the Foundation.

Risk Management

The executive trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The charity exists to receive donations from employees and former employees within companies of the Oxygen House Group and related companies. The charity has minimal ongoing costs and all time provided by the trustees is on a voluntary basis. Oxygen House Foundation has not identified any major risks, but will continue to review and document any risks that may arise and will take action to minimise these as required, and to notify the Charities Commision where necessary.

Objectives and Activities

Objectives and aims

The objects as defined within the Trust Deed are:

To pay or apply the income towards or for the advancement or in futherance of such charitable purposes of charitable institutions or organisations or persons and in such proportions as the trustees may from time to time in their absolute discretion determine.

Grant Making

At each meeting a review is undertaken of the finances and money available at the time of the meeting and a donation amount is agreed. The trustees then vote on any of the charities proposed and the donations are distributed accordingly. The governance and management of each proposed charity or charitable cause is scrutinised beforehand to ensure that the Foundation is donating effectively and is adhering to the objects of the trust and the rules as laid out by the Charities Commission. Any charity deemed unsuitable under these terms will provoke discussion and if necessary be withdrawn from the round of donations.

Oxygen House Foundation Report of the Trustees

Achievement and Performance

Charitable activities

Oxygen House Foundation's activities include offering financial help and monetary donations to other charitable causes and charities. Oxygen House Foundation has donated to charities across the UK and abroad.

The trustees feel that the donations made this year reflect a wide range of charitable areas, including health, care and medical research, education, sports and arts, homelessness and protection of children. In addition, Oxygen House Foundation has donated to local, national and international charities, ensuring that many geographical areas are benefitting.

There have been no changes in the charity's objects or activities this year and Oxygen House Foundation will continue to make donations as the trustees see fit. The trustees will ensure that the objects are adhered to, and will continue to evaluate the charity's activities to make sure that Oxygen House Foundation is donating effectively. In the next financial year we hope to continue to support a wide range of charitable causes, donate responsibly and hope to build long-term relationships, particularly with local charities.

The objects of the Oxygen House Foundation ensure that there is a diverse range of charities and charitable causes that the Foundation will help, across several geographical locations, and that by carrying out these activities, the trustees are ensuring that the Foundation is working for the public benefit.

Financial Review

Reserves Policy

Oxygen House Foundation is considering whether to adopt a reserves policy in the near future, but there is currently no policy in place.

Financial Review and Plans for the Future

The Foundation is currently funded entirely by donations and resultant Gift Aid (voluntary income).

Voluntary income for the year amounted to £92,396.66. The Foundation paid out £118,000 (£55,000 in 2023) in donations to charitable institutions.

At the year end the Foundation was holding cash resources of £3,297.25.

Statement of Trustees Responsibilities

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales, the Charities Act 2011, charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charity SORP;
make judgements and estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to; and
presume that the charity will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the charities Act 2011, the Charity (Accounts and Reports) Regulations and the provisions of the trust deed.

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.

On behalf of the Board of Trustees of the Oxygen House Foundation

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Mrs G Anderson - Treasurer

Dated: 16/04/2025

Oxygen House Foundation

Independent examiner's report to the trustees of Oxygen House Foundation

We report on the accounts of Oxygen House Foundation (Charity Number:1131659) for the year ended 30th June 2024.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the 2011 act) and that an independent examination is needed.

It is our responsibility to:

examine the accounts under section 145 of the 2011 Act;
to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act: and
to state whether particular matters have come to our attention.

Basis of independent examiner's report

Our examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explations from you as trustees concerning such matters. the procedures undertaken do not provide all the evidence that would be reqiured in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with our examination, no material matter has come to my attention which gives us reasonable cause to belive that in any material respect :

the accounting records were not kept in accordance with section 130 of the Charities Act; or
the accounts did not accord with the accounting records; or
the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.

We 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.

Tudor Jones

Oakleys

Pitt Farm Uffculme Cullompton Devon EX15 3BY

Dated:

Oxygen House Foundation Statement of Financial Activities for the year ended 30 June 2024

Notes INCOMING RESOURCES Incoming resources from generated funds Donations and legacies 2 Investment income Other incoming resources Total incoming resources RESOURCES EXPENDED Charitable activities Donations to other charities 3 Governance costs 5 Total resources expended NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	2024 Unrestricted Funds £ 92,396 2 - 92,398 118,000 621 118,621 (26,223) 40,115 13,892	2024 Total Funds £ 92,396 2 - 92,398 118,000 621 118,621 (26,223) 40,115 13,892	2023 Prior Year Funds £ 73,613 - -
			73,613 55,000 573
			55,573
			18,040 22,075
			40,115

Oxygen House Foundation Balance Sheet as at 30 June 2024

Notes Current assets Debtors 6 Cash at bank and in hand Creditors: amounts falling due within one year 7 Net Current Assets NET ASSETS FUNDS Unrestricted funds 8 TOTAL FUNDS	2024 £ 11,182 3,297 14,479 (587) 13,892 13,892 13,892 13,892	2023 £ 1,600 39,022 40,622 (507) 40,115 40,115 40,115 40,115	2023 £ 1,600 39,022 40,622 (507) 40,115 40,115 40,115 40,115

			40,115
			40,115
			40,115

The financial statements were approved by the Board of Trustees and were signed on their behalf by:

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Mrs G Anderson Trustee

Approved by the board on 16/04/2025

Oxygen House Foundation Notes to the Financial Statements

for the year ended 30 June 2024

1 Basis of preparation

Basis of accounting

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

The accounts have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (SORP 2015 FRS 102) and include the results of the charity's operations all of which are continuing .

Going concern

The accounts have been prepared on a going concern basis.

Change of accounting policy

The accounts present a true and fair view and the accounting policies adopted are as outlined.

Changes to accounting estimates

No changes to accounting estimates have occurred in the reporting period.

Material prior year errors

No material prior year errors have been identified in the reporting period.

2 Accounting policies

2.1 INCOME

Recognition of income

Income is included in the Statement of Financial Activities (SoFA) when: Resources expended - the charity becomes entitled to the resources and it is more likely than not that the trustees will receive the resources, and

the monetary value can be measured with sufficient reliability.

Offsetting

There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.

Grants and donations

Grants and donations are only included in the SoFA when the general income recognition criteria are met.

Oxygen House Foundation Notes to the Financial Statements for the year ended 30 June 2024

Tax reclaims on donations and gifts

Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.

2.2 EXPENDITURE AND LIABILITIES

Liability recognition

Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

Governance and support costs

Support costs have been allocated between governance and other support costs.

Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.

2 DONATIONS AND LEGACIES Donations Gift aid	2024 £ 82,650 9,746 92,396	2023 £ 68,229 5,384
		73,613

Oxygen House Foundation Notes to the Financial Statements

for the year ended 30 June 2024

3 CHARITABLE ACTIVITY COSTS Donations to other charities 4 GRANTS PAYABLE Donations to other charities Recipients of institutional grants:	2024 £ 118,000 118,000 2024 £ 118,000 118,000	2023 £ 55,000
		55,000
		2023 £ 55,000
		55,000

Name of institution NSPCC British Red Cross Devon in Sight More Positive Me Cool Earth Malala Fund UK First Star Scholar UK UNICEF Children in Gaza Cancer Research Jay's Aim Farms for City Children The Marine Conservation Society CoLab Exeter	£ 10,099 13,330 7,675 8,753 10,753 7,291 7,099 12,810 8,819 9,339 6,519 7,819 7,694
	118,000

5 GOVERNANCE COSTS

Auditors' remuneration Bank charges 6 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors	2024 £ 614 7 621 2024 £ 11,182	2023 £ 543 30
		573
		2023 £ 1,600

Oxygen House Foundation Notes to the Financial Statements

for the year ended 30 June 2024

7 Creditors: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 8 Movement in Funds Unrestricted funds General fund At 1st July 2023 Net movement in funds Net movement in funds, included in the above are as follows	2024 £ 587 2024 £ 40,115 (26,223) 13,892	2023 £ 507
		2023 £ 22,075 18,040
		40,115

Unrestricted funds General fund Total Funds	Incoming resources £ 92,398 92,398	Resources expended £ 118,621 118,621	Movement in funds £ (26,223)
			(26,223)

Oxygen House Foundation Schedule to the Profit and Loss Account for the year ended 30 June 2024

INCOMING RESOURCES Voluntary Income Donations Gift aid Investment Income Other incoming resources Interest on gift aid receipts Total incoming resources RESOURCES EXPENDED Charitable activities Donations to institutions Governance costs Auditors' remuneration Bank charges Total resources expended Net (deficit)/income	2024 £ 82,650 9,746 92,396 - 92,398 118,000 614 7 621 118,621 (26,223)	2023 £ 68,229 5,384
		73,613
		-
		73,613 55,000 543 30
		573
		55,573
		18,040

This page does not form part of the statutory financial statements