Registered Company Number: 07028710 (England & Wales) Registered Charlty Number: 1139532 REPORT OF THE DIRECTORS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 FOR OASIS OF LOVE INTERNATIONAL CENTRE (aka The Love Centre) CONTENTS PAGE NO. COMPANY & CHARITY INFORMATION DIRECTORS, REPORT INDEPENDENT EXAMINER'S REPORT STATEMENT OF FINANCIAL ACTIVITIES BALANCE SHEET NOTES TO THE FINANCIAL STATEMENTS 10-14 OASIS OF LOVE INTERNATIONAL CENTRE COMPANY & CHARITY INFORMATION FOR THE YEAR ENDED 30 SEPTEMBER 2021 DIRECTORS I TRUSTEES: Mr Emanuel lornongu Mrs Rita Favour Mr Henry Bada Mrs Zodwa Ngwenya Mrjide Ogunmiluyi Mrs Eulalee Reid Mr Ferdinand Daniel COMPANY SECRETARY Mrjide Ogunmiluyi REGISTERED OFFICE: 78A Walsall Street Wolverhampton West Midlands WVI 3LP REGISTERED CHARITY NUMBER . 1139532 INDEPENDENT EXAMINER . Amoeba Associates Derwent House Broad Street Kingswinford West Midlands DY6 9LP OASIS OF LOVE INTERNATIONALCENTRE REPORT OF THE DIRECTORS FOR THE YEAR ENDED 30 SEPTEMBER Z021 The directors, who are also trustee5 for the purpose5 of the Charity Act, present their annual report and independently reviewed Financial Statement5 for the year ended 30 September 2021. STRUCTURE, GOVERNANCE AND MANAGEMENT The Charity is constituted as a Company Lirnited by Guarantee. The Trustees deem the company is not subject to Corporation Tax. The organisation is controlled by its governing document, Mernorandum & Articles of Association incorporated on the 24th September 2009 under the name 'Oasis of Love International Church This name was amended to"Oasis of Love International Church aka The Love Centre by special resolution as registered on the 6th September 2010. The tru5tee5 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 trustees Set the overall poliry and direction of the organisation. They have a wide range of ski115 and experience in Christian ministry, and management in the public, private and voluntary sectors. OBJECTS AND ACTIVITY The principal object of Oasi5 of Love International Centre IOLICI is the advancement of the Christian faith and the relief of povertv. PU8LIC BENEFIT In developing activities and delivering services, the Trustees have taken account of the guidance on public benefit published by the Charities Comrnission. All of the group's activities are forpublic benefit. No member of the organisation, including the Trustees, receives anv financial benefit frorn their involvement with the organisation. STRATEGIES FOR ACHIEVING 08JECTIVES The charity has adopted the Strategies below aimed at achieving its objective5'. o The promotion of mental health,. o Organisation of conferences. activities and community events aimed at promoting racial equality, diversity and inclusion; o Organisation of comrnunity fitness activities., 0 Support for other Charities,. o Support for Christian events; o Support and asslstance to individuals. ACTIVITIES FOR CARRYING OUT OBJECTIVES o Provision of a soup kitchen & loodbank.. o Food parcel deliverie5 & Clothing bank.. o Provision of Business, employability and 50cial skills training for youth5, and Migrants; o Provision of welf3re Support to individual5,' o Missionary activities and evangelism,. o Provision of support to other charities; o Provision of health and fitness activities like cycling, Dance4fitness, walking, etc. o Conferences, workshops and Community Cohesion events; o Provision of a Community Space or centre,. o Provision of after school clubs and youth activities,. VOLUNTEERS The Charity is grateful for the efforts and support of its volunteers who are involved in the service delivery. During the financial year, an estimated minirnum of 19.500 volunteer hours1125 volunteer5 x 3hrs per week x $2 week51 were provided. When valued at £10 per hour. the efforts of the volunteers amount to £195,000. During this period the Charity welcomed 23 additional volunteers from the community. They are contributing immensely in rneeting the ever-increasing demand on our service5 due to the effects of COVID-19 ACHIEVEME￿5 AND PERFORMANCE- Ottober 2020- September 2021 With COVID-19 still ravaging the lives of so many in our community and nation, this financial year has proved to be yet another difficulty year for everyone, particularly for members of our community. Many have lost their jobs, families, and health. There has been a very sharp increase in cases of mental health issues in the community that is linked directly to the effects of COVID-19. As Chairperson it is with rnixed feelings that I present this report to our supporters, service users and the public. It shows some of our achievements over the past 12 months, particularly in meeting the ever-increasing needs of those who are most affected by the Covid-19 P3ndemic,' and some insight into the organisation's vision for the future. In the year under review, OLIC engaged in various Community based welfare, educational, fitness, and community building activitie5 for the benefit of its members and the general public. Some specific activities were also carried out abroad. OLIC continue5 to experience further growth and made significant contributions to both the Mental, Emotional, Social, Financial, Physical, and Spiritual lives of it5 member5 and the public. The organi5ation continues to expand its service provision to the public every week, particularly in alleviating the pain and hardship occasioned by Covid-19. OLIC continues to organise a host of socially distanced programmes and Covid-19 compliant activities for the public benefit which are focused on alleviating the suffering caused by the pandemic, promoting community cohesion, the relief of poverty, skills training, community engagement, fitness and youth activities, evangelism and spiritual empowerment. Most of the activities are still online, the charity is gradually returning to some in-person activities, following government guildlines. Specifically, some of the activities included.. l. We launched a new cycling club with the purchase 10 bicycles. 2. A 17-seater Ford Transit Minibus was purchased for the use services users. 3. Soup Kitchen and Food Bank Number of unique individuals served with hot meals during the year.. 2,105 Total number of Food Parcels delivered to home5.. 3,120160 x S2wk51 It is e5tirnated that a total number of 49,720 mea15 were Served by the Soup Kitchen and foodbank in the 202012021 financial year. 4. Online Physical fitness activities like dance4fitness classes. 5. Online Youth events including empowerment seminars, and sport activities designed to keep the youths active and fit. 6. Zoom seminars / workshops, weekly bible studies, weekly prayer meetings, love fellowship rneetings, 7. The charity also provided.. material and financial assistance to other charities and individuals in the course of the financial year. These included individuals facing hardship and other5 who suffered bereavement. Clothe5 and other relief materia15 were sent to IDPs in Nigeria. 8. The charity started a new"NotAlone" support group, in addition to the two Covid-19 support grtsups Ibubble51 for the lonely and those at risk of suffering isolation. 9. We have also continued to work closely with other agencies tsn the Covid-19 Community Test and Trace Scheme. FINANCIAL REVIEW The organisation is funded generally from donated funds for non-specific purposes, from it5 members and attendees. These funds are retained in b3nk 3ccounts held in the UK and are treated 3s Unrestricted Funds. During the current year, funding has been Secured for the Soup Kitchen and youth activities, these are reported a5 Restricted Fund5. This year the Charity received restricted fund5 of £30,500 toward our activitie5. The Board endeavoured to develop the Outreach activites and secure funding for this arm of the organisation. The majority of income come5 from contributitsns from members of the church. With the ongoing closure of the building a lot of effort has been focused on virtual and outdoor activities. In Ilne with the recommendations of the Charity Commission, the directors have adopted a policy on the holding of reseNes. The Trusiee> dlv seekiiig to achieve reserve5 amountingto six months, sal¥ri@S 3nd riinning Costs. This amount% to #round Éai.Grxi f(Jr the Teported year. The Board will endeavour to sustaln unre5tTlCted reserves at this rninimum level. The directors are empowered to invest monies ot the Charlty not immedlately Tequire(S Ivi ilie further&nce of it3 objects in or upon 5uih illVeSLnieiits. securities or property a• may be thought fit. neverth@l@gs siibjgrtto such tonditions lif any) and such consents lif anyl as mayfoT the time belng be imposed or reqUI￿d by law. STATEMENT OF DIREcfoR5' RESPONSlblUTIES The diTector5 are required under UK Company law to prepare fin3nci31 statefflents for each tlnancial year. which give true and fairview of the compan￿$ ftnancial acilvltles duTinu LIIE yea¥ and of its financial p051tion at the end ol the year. In preparing those financial statements, the directors a￿ required to.. dl select 5Ultable accounting poli¢ics and apply th•rn congirt@ntly.' h) m3kÈludgements and esrimate5 Ihat are reasonable and prudent., 1 sLaie whether applicable accounting standards and statements of rerommended practice have been followed. subject to any departures disclosed and explained In the financial stateme￿ts.. dl prepare the financial statements on a going concern basis uThle5S it is inappropriate to presume that the company will continue in opÈr3tion. The directors are responsible for keeping accounti￿ retOFds. which disclo￿ with reasonable accyracy the financial position of the comDanv and which enable them to ensure that the finanoal 5tatement5 COTnply with applicable1aw and regul8tion5. They are also responsible for safeguardingthe assetg olthe company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularttSes. The direttofs have identifled the malor risks to which the charity are exposed and have put adopted suitable me¢hantsms to rnanage those risks. I his report ha5 beeH prepdr¥d iii èLGoi"dance with the special provisicn4 of the Comparsi05 Act 2006 applicable tn ¢?mpanies" bjectto thè 5mJll Companios rpgimp.- APPROVAL This report wa5 approved by Ihe dlrectDTb Vll and signed on thelr behalf.. Mr E. lornongu, TrustÈe **REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES OF** ## **OASIS OF LOVE INTERNATIONAL CENTRE** I report on the accounts of the Charity for the year ended 30 September 2021, which are set out on pages 3-6 and 8-14. ## **Respective responsibilities of Trustees and Examiner** As the Charity's trustees you are responsible for preparation of the accounts; you consider that the an audit is not required for this year under section 144(2) of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies’ regime and in accordance with FRS102 SORP It is my responsibility to: - examine the accounts under section 145 of the Charities Act, - to follow the procedures laid down in the general directions given by the Charity Commission under - section 145 (5)(b) of the Charities Act and - to state whether particular matters have come to my attention ## **Basis of Independent Examiners statement** My examination was carried out in accordance with 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 the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. ## **Independent examiner's statement** In connection with my examination, no matter has come to my attention : 1. which gives me reasonable cause to believe that in any material respect the requirements - To keep accounting records in accordance with section 130 of the Charities Act; and - To prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Mr Mills, EMB Amoeba Associates Derwent House Broad Street Kingswinford DY6 9LP Date : 29/03/2022 **7** OASIS OF LOVE INTERNATIONAL CENTRE Statement ()f Financial Activities lincorporating an Income and Expenditure Acrountl forthe year ended 30 September 2021 2021 Toial Funds 2020 Total Funds Unrestrlcted Funds Deslgnated Funds Restrltted Funds Notes INCOMING RESOURCES: Incomlng Resources from generated funds Don3tions & Legacies InvestmÈnt income 60,314 60,314 59,863 60,314 60,314 59,863 Incomlng Resources from charhable aafvftles Grant Income 29,811 30,5CK) 60,311 30,037 Other Inrornin8 Resour¢e5 Other Income 14,381 14,381 Total Incomlng Resources 104,506 30,500 135.006 89,9 RESOURCES EXPENDED.. Charitable Activities 51,808 360 30,500 82,308 360 59,072 Governance C05t5 Other Resourtes Expended Total Resources Expended 52,168 30,500 82,668 59,872 NET INCOMINGIIOUTfjOINfjI RESOURCES before iransfers 52,338 52,338 30,028 Transfers between funds Net IncominEIIOutEoinEI resources 52,338 52,338 30,028 RECONCILIATION OF FUNDS Total funds bought forward 128,922 77,568 206.490 176,462 TOTAL FUND5 CARRIED FORWARD 181,260 77.568 258.828 206,490 The Statement of financial activitie5 4150 complie5 Wlth the requirewents for 3n incorne and expenditure account under the CompaniÈs Att 2006. None of the charity's activities were started or discontinued during the current or previou5 year and all operatlOll5 continue. There are no recognised E3ins or1055e5 Other than those p3ssing through the income and expenditure account. OASIS OF LOVE INTERNATIONAL CENTRE Balance Sheet as at 30 September 2021 Note5 At 30 Sept 2021 At 30 sept 2020 FIXED ASSEf5 T2ngible 267,475 247,081 CURRENT ASSErs Debtor: & prcpayments Cash at bank and in hand io 3,960 6L973 65,933 3,960 39,385 43,345 CREDITORS Amount5 falling due within one year li 1.216 CURRENT ASSETS 65.933 42.128 TOTAL ASSETS LESS CURRENT UABILITIES 333.408 289.209 CREDITORS Amounts falllng dup after more than one year 74.580 82.719 ASSETS 258,828 2￿,490 FUNDS Restricted funds 12 Unrgqtrictgd fund Desi8nated fLEnds 1511,? 77,568 128.922 77,568 TOTAL FUNDS 258.828 206.490 For the year ending 20 SÈptembor 2021 thÈ tompany was entitled to exemption frorn audit under sectlon 477 of rhe companies Acr z006 relating to small companies. DireLtur's re5POn5ibilitie5 The members have not required the company to obtain an audit of its accounts for the year in question in accordance with settion 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the reauirements of the Companies Act 2006 with respect to accounting record5 and the preparation of accounts. These accounts havè beon pre.pared in occordance with the provisions appll¢able to companles sublecE to Ihesmall companies regime. The accounts were approved by the Uoard on................ Mr E. lornongu, Trustee The nDtes form part of the financial statements OASIS OF LOVE INTERNATIONAL CENTRE Notes to the Financial statements for the year ended 30 September 2021 Note I ACCOUNTING POLICIES Accounting Convention The financial statements have been prepared under the historical cost convention and in accordance with the Financial reporting Standard for Smaller Entities leffective April 20081, the Companie5 Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities. Financial Reporting Standard Number I Exemption has been taken from preparing a cashflow statement on the grounds that the companv qualifies as a small company. Tanglble flxed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life Furniture & fittings Vehicles Equipment - 0% per annum on the Reducing Balance basis Oyo per annum on the RedLJcing Balance basis - 0% per annum on the Reducing Balance basis Incomlng Resources All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Restricted incoming resources in respect of capital expenditure are carried forward as deferred capital grants and released to the fund account to match the depreciation charges. Resour¢es Expended Expenditure is accounted for on an accruals basi$ and has been classified under headings that aggregate all the costs related to the category. Where costs cannot be directly attributable to particular headings they have been allocated to activities on a basis consistent with the use of resources. Taxation The charity is exempt from corporation tax on its charitable activities Fund Accountin8 Unrestricted Funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restrirted funds can only be used for the particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when the funds are raised for a particular restricted purpose. Further explanation of the nature and purpose of each fund is included in the notes to the financial 5tatement5. io OASIS OF LOVE INTERNATIONAL CENTRE Notes to the Financial statements for the year ended 30 September 2021 Note 2 Donations & Legacies 2021 2020 Donations Fundraising Events 60.314 59.863 60.314 59.863 Subscriptions are received from service users in 2020-21 3 Investment income Unrestricted funds Restricted funds Total 2021 Total 2020 Interest receivable 4 Incoming Resources from charitable activities Unrestricted funds Restricted funds Totsl 2021 Total 2020 Wolverhampton City Council Severn Trent Water PLC Gill Group Tesco Groundwork Lloyd5 Bank Foundation Black Country Consortium Voice 4 Change EnÉland Heart of England ESC Lottery Fund Arnold Clark Automation 15,143 20,500 35,643 25,000 2,000 1,000 500 500 1,037 10,000 10,000 7.960 5,708 1,000 7.960 5,708 1.000 29,811 30,500 60,311 30,037 S Other incoming ￿$oUrCeS 2021 2020 Other income lincl.Gift Aid, Insurance & CJRS claims) 14.381 li OASIS OF LOVE INTERNATIONAL CENTRE Notes to the F5nanc5al statements for the year ended 30 September 2021 Note 6 Total resources expended Total 2020 Staff ¢osts Depreciation Other costs Total 2021 Costs of generating funds Fundraising & publicity 345 345 Charitable expenditure Direct Project Costs Staff & Volunteer Costs Premises Costs Legal & Professional Costs Vehicle Costs Administration C05t5 Costs in furtherance of charity's objerts 23.725 1,377 7,889 11,527 1,153 5,281 50,953 23,725 29,951 7,889 11,527 1,153 5,281 79,527 4,954 28,087 22,673 499 28,574 1,661 57,875 28,574 Management and administration 2,796 2,796 1,997 2,796 2,796 1,997 28,574 54.094 82,668 59,872 Management and administration costs include payments to the Independent Reviewer of £36012020- £3501 for fees. 7 Trustees During the year, remuneration for services as Pastor was payable to Mr E. lornongu totalling £24,000. Expenses were paid or were payable, directly or indirectly, out of funds of the charity to this trustee. No other amounts were payable to any person or persons known to be connected with them or the Charity. 8 Employees 2021 Number 2020 Number The average monthly number of employees during the year was Activities in furtherance of organisation'5 objects Management & Administration Employment C05t5 Wages and salaries Social security costs Pension costs 24,098 25,921 24,098 25.921 There were no employees whose annual emoluments were £60,000 or more 12 OASIS OF LOVE INTERNATIONAL CENTRE Notes to the Financial statements for the year ended 30 September 2021 Note Unrestricted Funds Restricted Funds 9 TANGIBLE FIXED ASSETS Total Cost At 30 September 2020 Additions Disposals As at 30 September 2021 247,081 20,394 247,081 20,394 267,475 267,475 Depreciation At 30 September 2020 Charge for the period Disposals As at 30 September 2021 Net Book Value At 30 September 2021 267,475 267,475 At 30 September 2020 247.081 247,081 10 Debtors At 30th Sept 2021 At 30th Sept 2020 Trade Debtors Other Debtors Prepayments and accrued income Total Debtors 3,960 3,960 3,960 3,960 11 Creditors . amounts falling due within one year 2021 2020 Deferred Income & Creditors Short term Loans Tax and social security Accrued expenses 366 850 1,216 13 OASIS OF LOVE INTERNATIONAL CENTRE Notes to the Flnanclal statements for the year ended 30 September 2021 Note 12 Restricted funds The income funds of the charity include restricted funds comprising the following unexpended balance5 of donations and grants held in trust for specific purposes MOVEMENTIN FUNDS Incoming Resources Resources Expended Transfer5 Balance at l Oct 2020 C105ing Balance Wolverhampton City Council Voice 4 Change England 20,500 10,000 30,500 20,500 10,000 30.500 Transfers Transfer5 may be made in 51tuations where expenditure ha5 exceeded 8vail8ble grant income or where there has been a small balance of grant remaining after the project completion. 13 Oesignated Funds No funds hève been set aside out of unrestricted funds by the trustees for specific purposes. 14 Commltments under operatlng leases At 30 September 2021 the company had no commitments under non-cancellable operating leases. 15 Reserve5 Policy The directors have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The directors aim to ensLJr& the charitv will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditLJre. The director5 will endeavour not to set aside funds unnece5sarilv. 14