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← Oasis Community Hub: Henderson Avenue

2024-08-31-accounts

Registered number: 07237011 Charity number: 1137025

OASIS COMMUNITY HUB: HENDERSON AVENUE

(A company limited by guarantee)

DIRECTORS' REPORT AND INDEPENDENTLY EXAMINED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

OASIS COMMUNITY HUB: HENDERSON AVENUE

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the Company, its Directors and advisers 1
Directors' report 2 – 7
Independent examiner's report 8
Statement of financial activities 9
Balance sheet 10
Notes to the financial statements 11 – 16

OASIS COMMUNITY HUB: HENDERSON AVENUE

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS DIRECTORS AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2024

Directors

S Cross (resigned 11 November 2024) N Whittle L J Baxter (resigned 22 May 2024) C Blakely A Hornsby (appointed 12 November 2024)

Company registration number

07237011

Charity registration number

1137025

Registered office

1 Kennington Road, London, SE1 7QP

Company secretary

K Agar

Independent examiner

Mr Matt Ryan, FCCA Numbers Ltd

Page 1

OASIS COMMUNITY HUB: HENDERSON AVENUE

(A company limited by guarantee)

DIRECTORS' REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2024

The Directors (who are also Trustees of the charity for the purposes of the Charities Act) present their annual report together with the audited financial statements of Oasis Community Hub: Henderson Avenue (the company) for the year ended 31 August 2024. The Directors confirm that the Annual report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Charities SORP 2019 applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Structure, governance and management

a. CONSTITUTION

The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 27[th] April 2010 and is a registered charity number 1137025.

The principal objects of the Company are the advancement for the public benefit of education and health, the preservation and protection of public health generally, the relief of persons who are in need, hardship or distress and the prevention and relief of poverty.

The Directors confirm that they have paid due regard to the guidance contained in the Charity Commission’s general guidance on public benefit when setting the charity’s objectives and planning its activities.

b. METHOD OF APPOINTMENT OR ELECTION OF DIRECTORS

The management of the company is the responsibility of the Directors who are elected and co-opted under the terms of the Articles of Association. The appointment of new directors is at the discretion of the existing directors (and/or the Guarantor).

c. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF DIRECTORS

Policies for the induction and training of new directors follow those of the ultimate parent, Oasis Charitable Trust.

d. ORGANISATIONAL STRUCTURE AND DECISION MAKING

Oasis Community Hub: Henderson Avenue (the Company) is a company limited by guarantee, whose registered number is 07237011. It is also a registered charity, number 1137025. The Company is governed by a Memorandum and Articles of Association of 27[th] April 2010. The Company is controlled by the Directors who are also the Trustees. The company was founded by Oasis Charitable Trust, however Oasis Community Partnerships is the immediate parent and sole member. The Company does not have a share capital. Directors are appointed by a majority of Directors or the Guarantor. The Directors have delegated the day to day activity of the Company to the Hub Leader, but retain responsibility for major strategic and governance decision.

The Company was established in furtherance of Oasis Charitable Trust and Oasis Community Partnership’s intention to deliver individual and community transformation through local community hubs. As each Hub will need to respond to the issues and needs arising in its own locality and in order to engage local involvement each hub will operate as an independent legal entity but expressing the consistent ethos of Oasis.

e. RISK MANAGEMENT AND GOING CONCERN

The Directors have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.

The risks and impact of the cost of living crisis have been assessed by the Directors and they are satisfied that risks have been mitigated wherever possible. We have confirmed grant commitments from our major funders

Page 2

OASIS COMMUNITY HUB: HENDERSON AVENUE

(A company limited by guarantee)

DIRECTORS' REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2024

covering the period up to and beyond August 2023.

The Directors consider that Oasis Community Hub: Henderson Avenue has adequate resources to continue in operational existence for the foreseeable future and, for this reason, the Directors continue to adopt the going concern basis in preparing the accounts.

Objectives and Activities

The objective of the company is to operate as a catalyst for community transformation by facilitating improvements in the lives of individuals and growth in community activity and cohesion. This will be achieved by identifying and understanding the needs and strengths within the community and by applying the Oasis Ethos to everything. The Oasis Ethos is:

Oasis Hubs will typically include activities in education, youth and children’s work, community empowerment, housing, advice and support, personal and spiritual development and health and wellbeing.

Achievements and Performance 2023/24

The vision for Oasis Hub Henderson Avenue charity is to develop grassroots initiatives that empower residents through providing opportunities to develop new skills, leadership potential and positive life experiences. We seek to respond to the assets and needs of our local neighborhood, and actively involve community members in designing, delivering and leading activities and enterprises, recognizing that a person’s ability to lead change for themselves is the best way to support the development of deep transformation. We currently have two main projects: Adult Courses being delivered through Multiply funding to teach skills in hospitality, baking, beauty and upholstery. The Humber Coin a bespoke early intervention program that works with young people, where young people within the Hub area are already identified as vulnerable and where school exclusions/alternative education provision is an identified risk.

Oasis Community Space

Oasis Community Space has seen a real shift in the usage where we have seen many new organisations starting to use the space for their meetings and their events. We have gained quite a few members that are happy to support the space more as ‘regular donations’ which helps with the costs of running the space. We have also seen a church start to rent the space during the week and on a Sunday which has seen a few new volunteers coming through to support the pantry.

It has been positive to start seeing the space being used more and being able to capture all the people that are starting to take ownership of the space particularly the Ukrainian Community and Syrian and Afghan.

The figures for the last quarter show real growth:

Page 3

OASIS COMMUNITY HUB: HENDERSON AVENUE

(A company limited by guarantee)

DIRECTORS' REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2024

Humber Coin

Over the summer of 2023 we were successful for funding from Million Hours Funding which has allowed us to develop our youth project that had been paused since our Lead Worker left earlier in the year. We have now converted the container into a Creative Youth Agency which has seen small groups of young people gathering to explore skills such as photography, social media and baking.

Purple Shoots

Since the pilot of the ‘Purple Shoots’ project we have seen 5 Entrepreneurs that have been referred by the Job Centre receive micro loans that have enabled them to purchase vehicles or equipment in order to start their business. They have then been able support with the needs of the other project such as the hair and beauty course for Syrian Refugees and Afghan Refugees – which is what Zara and Abby have done after starting their own beauty business. One of the examples is Tony who left being long haul driving after witnessing somebody ending their life in front of his lorry. After receiving funding, he was able to purchase a delivery vehicle which enables him to carry on driving while providing for his family.

Good Coffee

We have seen our coffee shop starting to gain traction in the community, although we have faced some challenges in terms of staff turnover. We continue to run a pantry offer, in partnership with Fare Share.

Page 4

OASIS COMMUNITY HUB: HENDERSON AVENUE

(A company limited by guarantee)

DIRECTORS' REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2024

Relationship of Oasis Community Hub: Henderson Avenue to other Oasis companies

The Hub has three relationships with the wider Oasis group:

  1. With the national group of Oasis organisations

  2. With the Oasis Community Partnerships group

  3. With Oasis Academy Henderson Avenue

These are described as follows:

1. The national Oasis Group

The Oasis family of charities in the UK has been structured to enable the entire group to benefit from working together towards national objectives while at the same time being able to deliver maximum impact in local communities. The challenge of running a national charity is in ensuring the correct needs are being addressed in local communities, while the advantage is working collaboratively at a national level to minimise cost locally and benefitting from the value of interdependent working. This ‘hybrid structure’ has been developed to ensure that local ownership and oversight is achieved whilst leveraging economies of scale.

Oasis Charitable Trust is responsible for all Oasis’ activities in the UK and is the parent company for three national subsidiaries. These are:

  1. Oasis Community Learning – a multi-academy chain running 53 academies across England

  2. Oasis Community Partnerships – a charity delivering community development work

  3. Oasis Community Housing – a housing charity supporting vulnerable adults and young people

2. The Oasis Community Partnerships Group

Within this group structure, Oasis Community Partnerships is responsible for all of Oasis’ community development work in the UK. It is the national holding company for 20 local Oasis Community Hubs and one Trading Company, delivering integrated community development work in a number of targeted neighbourhoods across the country.

Oasis Community Hub: Henderson Avenue is a local subsidiary of Oasis Community Partnerships, which, in the same way as the group structure, is also a hybrid model. This enables sharing of resources, best practice and central support functions while Oasis Community Hub: Henderson Avenue operates locally in order to respond appropriately to the needs of the local area. As a result, Oasis Community Hub: Henderson Avenue benefits from higher quality and cheaper infrastructure than it would be able to access as entirely standalone organisation.

3. Oasis Community Hub: Henderson Avenue and its partnership with Oasis Academies

Oasis Community Hub: Henderson Avenue is governed by a local board of trustees, who are accountable for the financial management of the hub, overseeing the development of projects to meet local needs and ensuring that those projects benefit from any funds raised. As explained above, Oasis Community Hub: Henderson Avenue is a subsidiary of Oasis Community Partnerships, which, in turn, is a subsidiary of Oasis Charitable Trust.

Oasis Community Hub: Henderson Ave delivers integrated community development across the Crosby and Park Ward of Scunthorpe and in particular the communities surrounding Oasis Academy Henderson Avenue. One objective of Oasis Community Hub: Henderson Ave is to provide wrap around care for students and their parents/carers at the Academy. Therefore, Oasis Community Hub: Henderson Ave works in close partnership with Oasis Academy Henderson Ave in order to provide integrated and holistic community transformation.

Page 5

OASIS COMMUNITY HUB: HENDERSON AVENUE

(A company limited by guarantee)

DIRECTORS' REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2024

Financial review

The total incoming resources during the year ended 31st August 2024 amounted to £131,983 (2023: £128,897). Expenditure amounted to £127,670 (2023 £164,657). The overall result is a surplus of £4,313 (2023: £35,760 deficit) leaving negative retained funds of £11,385 (2023: £15,698 negative) split £7,055 negative (2023: £3,637 negative) unrestricted and £4,330 negative (2023: £12,061 negative) restricted.

Going concern

The Directors have considered the risks to the Hub and have confirmed that the major sources of grant funding are committed. Furthermore, the Directors are confident that costs will only be incurred to the extent that funding is secured. The Directors have adopted the going concern basis in preparing the accounts due to the support from the parent company Oasis Community Partnerships.

Plans for the future

Good Coffee + Pantry

We are looking to develop a different opening pattern (Tuesday – Saturday ) in order to develop the weekend trade. We have a strong focus in November and December to ensure our staff and general expenditure is bought to a minimum.

Adult Education Courses

We have seen the courses for adults become more of a priority as we see a gap for developing courses that really respond to the communities that are using the space. We have seen our growing refugee and asylum community needing more support . We have put on Baking and Beauty Courses every Tuesday and Friday to start bringing together a group of women that have been learning English as part of a provision that we have been supporting run by North Lincolnshire Sanctuary Group. We are looking to develop courses through Multiply funding which will hopefully be run in the academy as well as the community space

Youth Work

We are hoping to use the Humber Coin project as a pilot to write a bid to Reaching Communities which will allow us to develop our Youth Work offer. We hope to also see the work in schools develop as we understand the needs of the school and where we can best add value.

Page 6

OASIS COMMUNITY HUB: HENDERSON AVENUE

(A company limited by guarantee)

DIRECTORS' REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2024

DIRECTORS' RESPONSIBILITIES STATEMENT

The Directors (who are also Trustees of Oasis Community Hub: Henderson Avenue for the purposes of charity law) are responsible for preparing the Directors' 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 Directors to prepare financial statements for each financial year. Under company law the Directors 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Directors are required to:

The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In preparing this report, the Directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the Directors on 3 April 2025 and signed on their behalf by:

N Whittle

Director

Page 7

OASIS COMMUNITY HUB: HENDERSON AVENUE

(A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF OASIS COMMUNITY HUB: HENDERSON AVENUE

I report on the accounts of the charity for the year ended 31 August 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(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner’s report

My 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 explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required 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 my examination, no matter has come to my attention:

have not been met; or

Mr Matt Ryan, FCCA

32 High Street, Wendover, Bucks, HP22 6EA

Date: 3 April 2025

Page 8

OASIS COMMUNITY HUB: HENDERSON AVENUE

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an Income and Expenditure Account) FOR THE YEAR ENDED 31 AUGUST 2024

Note
INCOME FROM:
Gifts and Donations
2
Grants
2
Other Income
2
TOTAL
RESOURCES EXPENDED
Charitable activities
3
TOTAL RESOURCES EXPENDED
MOVEMENT IN TOTAL FUNDS FOR THE
YEAR - NET (EXPENDITURE) / INCOME
FOR THE YEAR
Transfers between funds
Total funds at 1 September 2023
TOTAL FUNDS AT 31 AUGUST 2024		 Unrestricted
funds

2024
£
50
-
63,296

Restricted
funds
Total
funds


2024
£
2024
£

-
50

50,616
50,616

18,021
81,317

Total
funds


2023
£

90

45,249

83,558
63,346
68,637
131,983
128,897
66,764
60,906
127,670
164,657
66,764
60,906
127,670
164,657
(3,418)
-
(3,637)
7,731
4,313

-
-
(12,061)
(15,698)
(35,760)

-
20,062
(7,055) (4,330)
(11,385)		 (15,698)

The notes on pages 11 to 16 form part of these financial statements.

Page 9

OASIS COMMUNITY HUB: HENDERSON AVENUE

(A company limited by guarantee)

BALANCE SHEET AS AT 31 AUGUST 2024

2024 2024 2023 2023
Note £ £ £ £
CURRENT ASSETS
Cash at bank 15,688 15,688 10,110
Debtors 2,719 719 3,884
18,407 18,407 13,994
CREDITORS:amounts falling due
within one year 5 (29,792) (29,692)
NET CURRENT ASSETS (11,385) (15,698)
NET ASSETS (11,385) (15,698)
CHARITY FUNDS
Restricted Funds 6 (4,330) (12,061)
Unrestricted funds 6 (7,055) (3,637)
TOTAL FUNDS (11,385) (15,698)

For the year ending 31/08/2024 the company was entitled to exemption under section 479a of the Companies Act 2006 relating to subsidiary companies. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.

The financial statements were approved by the Directors on 3 April 2025 and signed on their behalf, by:

N Whittle Director

The notes on pages 11 to 16 form part of these financial statements.

Page 10

OASIS COMMUNITY HUB: HENDERSON AVENUE

(A company limited by guarantee)

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

1. ACCOUNTING POLICIES

1.1 Basis of preparation of financial statements

The accounts (financial statements) have been prepared in accordance with the Charities SORP (FRS 102) applicable to charities preparing their accounts in accordance with FRS 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.

Under FRS 102 the charity claims an exemption for preparing a cash flow statement. The parent company (Oasis Community Partnerships), prepares consolidated accounts, which include a group cash flow statement and the hub companies are consolidated into this.

1.2 Company status

The company is a company limited by guarantee incorporated and domiciled in the UK and is a public benefit entity. The sole member of the company is Oasis Community Partnerships and it’s registered office is 1 Kennington Road, London, SE1 7QP. In the event of the company being wound up, the liability in respect of the guarantee is limited to £10.

1.3 Fund accounting

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

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund.

1.4 Income

All incoming resources are included in the Statement of financial activities when the company is legally entitled to the income and the amount can be quantified with reasonable accuracy and the likelihood of receipt of the income is probable. The incoming resources includes gifts and donations and grants.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

• Expenditure on charitable activities includes the costs of educational activities undertaken to further the purposes of the charity and their associated support costs.

• Other expenditure represents those items not falling into any other heading. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the hub’s operations and activities.

Page 11

OASIS COMMUNITY HUB: HENDERSON AVENUE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS (Cont.) FOR THE YEAR ENDED 31 AUGUST 2024

1.6 Debtors

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

1.7 Cash at bank and in hand Cash at bank and cash 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.

1.8 Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

1.9 Going Concern

Despite the negative equity, Oasis Community Hub: Henderson Avenue continues to operate as a going concern due to the support of its parent company, Oasis Community Partnerships.

1.10 Financial instruments

The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Financial assets held at amortised cost comprise cash and bank and in hand, together with trade and other debtors. Financial liabilities held at amortised cost comprise bank loans and overdrafts, trade and other creditors.

1.11 Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates, assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects the current and future periods.

In the view of the directors, no assumptions concerning the future or estimation uncertainty affecting assets and liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year.

1.12 Reconciliation with previously accepted Generally Accepted Accounting Practice

In preparing the accounts, the directors have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was required.

In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was required. In their estimation, the impact of transitioning is not material to the financial statements and therefore the restatement of comparative items is not required. The transition date was 1 September 2014.

Page 12

OASIS COMMUNITY HUB: HENDERSON AVENUE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS (Cont.) FOR THE YEAR ENDED 31 AUGUST 2024

2. VOLUNTARY INCOME

Gifts and Donations
Grants
Other Income:
Invoiced Services
SLA Income
Merchandise Sales
Other Income		 Unrestricted
funds
2024
£
50
-
22,656
25,071
428
15,141

Restricted
funds
Total
funds


2024
£
2024
£

-
50

50,616
50,616

-
22,656

-
25,071

17,979
18,407

42
15,183

Total
funds


2023
£

90

45,249

25,003

28,179

28,830

1,546
63,346
68,637
131,983
128,897

3. CHARITABLE ACTIVITIES

Governance costs
Staff costs
Training costs
Bank charges
Travel and food costs
Building improvements
Equipment
Website costs
Subscriptions
Publicity and advertising
Telephone costs
Rent payable
Rates payable
Consumables
Coffee shop consumables
Office costs
Professional/Consultancy fees
Other Costs		 Unrestricted
funds
2024
£
410
45,290
-
160
615
523
337
180
192
550
434
8,000
538
997
-
1,966
600
5,973

Restricted
funds
Total
funds


2024
£
2024
£

-
410

26,558
71,848

48
48

-
160

1,458
2,073

136
659

3,833
4,170

880
1,060

871
1,063

203
753

-
434

50
8,050

-
538

7,299
8,296

5,937
5,937

219
2,185

9,178
9,778

4,236
10,209

Total
funds


2023
£

300

94,969

269

223

1,595

10,423

5,689

301

1,152

1,977

84

2,888

3,605

4,106

12,125

2,426

12,679

9,846
66,764
60,906
127,670
164,657

Page 13

OASIS COMMUNITY HUB: HENDERSON AVENUE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS (Cont.) FOR THE YEAR ENDED 31 AUGUST 2024

4. NET INCOMING RESOURCES

This is stated after charging:

This is stated after charging:
2024 2023
£ £
Independent examination fee 410 300
During the year, no Directors received any remuneration (2023 - £NIL).
During the year, no Directors received any benefits in kind (2023 - £NIL).
During the year, no Directors received any reimbursement of expenses (2023 - £NIL).

5. CREDITORS: Amounts falling due within one year

Creditors
Intercompany		 2024
£
4,375
25,417
29,792		 2023
£
6,845
22,847
29,692

6. STATEMENT OF FUNDS - 2024

Unrestricted funds
Restricted Funds
SIT Upholstery
Youth
ERDF/ESF
Community Fund
Pantry
Retail
Adult Education		 Brought
Forward
Income
2024
£
£
(3,637)
63,346
79
427
5,147
15
(12,549)
-
756
37,606
-
2,650
(5,494)
14,929
-
13,010

Expenditure
2024
Carried
Forward

£
£

(66,764)
(7,055)

(784)
(278)

(4,866)
296

-
(12,549)

(21,206)
17,156

(2,698)
(48)

(18,827)
(9,392)

(12,525)
485
(15,698)
131,983
(127,670)
(11,385)

The overdrawn restricted funds are covered by a guarantee from Oasis Community Hub Henderson Avenues parent company, Oasis Community Partnerships (OCP). The OCP Board have underwritten the deficit balance.

Page 14

OASIS COMMUNITY HUB: HENDERSON AVENUE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS (Cont.) FOR THE YEAR ENDED 31 AUGUST 2024

STATEMENT OF FUNDS -2023

Unrestricted funds
Restricted Funds		 Brought
Forward
Transfers
between
Income
2023
Expenditure
2023
Carried
Forward
£
£
£
£
2,937
-
50,724
(57,298)
(3,637)
17,125
-
78,173
(107,359)
(12,061)
20,062
-
128,897
(164,657)
(15,698)

7. ANALYSIS OF NET ASSETS BETWEEN FUNDS - 2024

Unrestricted Restricted Total
funds funds funds
2024 2024 2024
£ £ £
Current assets 19,473 (1,066) 18,407
Creditors due within one year (26,528) (3,264) (29,792)
(7,055) (4,330)
(11,385)

ANALYSIS OF NET ASSETS BETWEEN FUNDS - 2023

Unrestricted Restricted Total
funds funds funds
2023 2023 2023
£ £ £
Current assets 22,573 (8,579) 13,994
Creditors due within one year (26,210) (3,482) (29,692)
(3,637) (12,061)
(15,698)

Page 15

OASIS COMMUNITY HUB: HENDERSON AVENUE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS (Cont.) FOR THE YEAR ENDED 31 AUGUST 2024

8. ULTIMATE PARENT UNDERTAKING

The company is a wholly owned subsidiary of Oasis Community Partnerships, a company incorporated in England (registered number 08749179) and a registered charity (number 1163889). Oasis Community Partnership prepares consolidated financial statements and this is the smallest group for which accounts are prepared that incorporate Oasis Community Hub: Henderson Avenue. Copies of these financial statement can be obtained from its registered office at 1 Kennington Road, London, SE1 7QP.

OCP’s principle objectives are to:

Oasis Charitable Trust (OCT) is the Ultimate Parent and is a company incorporated in England (registered number 02818823) and a registered charity (registered charity number 1026487). Oasis Charitable Trust prepares consolidated financial statements which include the results of Oasis Community Hub: Henderson Avenue, and this is the largest group for which accounts are prepared that include this company. Copies of the Oasis Charitable Trust group financial statements are available from its registered office at 1 Kennington Road, London, SE1 7QP.

OCT’s principle objectives are to:

9. RELATED PARTY TRANSACTIONS

In the year the hub was charged £3,024 (2023: £5,070) for support services. At the year-end a balance of £25,417 (2023: £22,847 ) was owed by the hub to OCP.

There were no other related party transactions.

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