## The Oikos Collective
Report and Accounts Year ended 31 March 2024
1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk
## **THE OIKOS COLLECTIVE**
## **COMPANY INFORMATION**
## **FOR THE YEAR ENDED 31 MARCH 2024**
## **Trustees**
Andrew Cox-Peel Jeremy Dearing Kenny Dubnick (resigned on 14 October 2024) Andrew Lee Daniel Mandley Terry Wilbanks (resigned 12 October 2023)
## **Key Management**
Jeremey Dearing Daniel Mandley Kevin Sheckler
## **Governing Document**
Memorandum and Articles of Association dated 23 February 2012, amended 7 October 2021
**Company Registration Number** 07962108 **Charity Registration Number** 1146963
## **Registered Office**
58 High Street Erdington Birmingham B23 6RH
## **Independent Examiner**
Lisa Darby FCA Stewardship 1 Lamb's Passage London EC1Y 8AB
## **Bankers**
CAF Bank HSBC
|**Contents**|**Page**|
|---|---|
|Company Information|1|
|Trustees' Annual Report|2-7|
|Independent Examiner's Report|8|
|Statement of Financial Activities|9|
|Balance Sheet|10-11|
|Cashflow Statement|12-13|
|Notes to the Accounts|14-22|
|Detailed Statement of Financial Activities with Comparatives|23|
Page 1
**Report of the Trustees, Structure, Governance and Management**
## **Report of the Trustees**
The Trustees, who are also Elders of the churches, present their report and accounts for the year ended March 2024.
The report has been prepared in accordance with the Charities Statement of Recommended Practices (Charities SORP (FRS 102)), Financial Reporting Standard 102 (FRS 102)) and the Charities Act 2011.
## **Structure, Governance and Management**
The OIKOS Collective is established as a charitable company. The charity is established under the charity’s Articles of Association and Memorandum approved by the charity commission, which contains the main legal provisions for governing the charity.
## **Trustees & Elders**
The trustees are the appointed Elders of the churches. Trustees lead on all matters of charity law and meet at least four times a year to oversee finances, employment, risk management, policies and other legal matters.
The spiritual leadership and direction of the churches and the day-to-day management of staff is overseen by the church elders, who meet bi-weekly.
The paid elders and trustees are Jeremy Dearing (Pastor of Second City Church) who stopped being a paid elder in December 2023, and Daniel Mandley (Pastor of OIKOS Church).
The unpaid elders and trustees are Andrew Cox-Peel, Kenneth Dubnick (resigned on 14 October 2024), Andrew Lee and Terry Wilbanks (who left his role in November 2023).
## **Staff**
The charity employs a number of staff, as well having several self-funded, externally-sponsored, and volunteer staff.
- Café staff includes Harriet (assistant café manager) who left her role in December 2023, Dom (assistant café manager on zero hours contract) and Jo (cleaner on zero hours contract), Jeni administration support for Café.
- OIKOS Church staff include Dan (pastor), Shane (visa worker focussing on church planting and work with refugees) and Nikki (volunteer Gospel worker focussing on women’s ministry).
- Second City Church staff include Alex (operations manager) who left his role in November 2023, Jez (pastor), Antonino (volunteer finance manager) who left his role in November 2023, Coby and Bailey (visa worker focussing on asylum seeker ministry and church planting) who left their role in November 2023.
## **Volunteers**
The majority of the work of the charity is carried out by a large and willing body of volunteers who are engaged in every area of the ministry of the churches, without whom most of the aims of the charity could not be delivered as they are now.
OIKOS Church has a total of approximately 50 volunteers each month. There are volunteer roles for our Sunday Gathering. The teams that people serve on are, Children’s team , welcome team, set up and set down team, Music Team, Audio Visual Team. Other ministry areas that are run by volunteers are our English Class who teach and deliver a class each week. We also have people volunteer for our community nights each month helping serve food at the community meal and providing drinks at our quiz night and evening of Creativity.
OIKOS Café has approximately 20 volunteers that serve each week Their role is to make drinks, welcome and talk with customers.
Hope Church total approximately 25 volunteers per month to help run their Sunday Gatherings on the welcome team, music team and welcome lunch. Other volunteers help serve at the weekly evening bible study. There are
Page 2
female volunteers that help run a weekly women’s gathering. Hope lead the Collective Youth Group that has a group of volunteers each month. There are also volunteers who help run the weekly homework club for school aged children.
Second City Church have approximately 10 volunteers to help lead and preach at their Sunday gatherings each month.
Overall, no appropriate value can be attributed to this contribution, which therefore is not included in the financial valuation of the charity.
## **Structure**
Each church congregation is led in spiritual matters and day-to-day management by a group of Elders and/or a local leader. The trustees, being made up of the Elders of the churches, lead on all matters of charity law and oversee finances, employment, risk management, policies and other legal matters.
## **Reference and Administrative Details**
## **Risk Management**
The trustees of the charity take risks of all kinds seriously and make every reasonable effort to mitigate against such risks. These risks are managed through a number of policies and procedures. The charity has a risk management policy in place and seeks to minimise risk where possible to keep the charity functioning effectively without unnecessary burden. However, as a faith-based charity, we also seek to follow the Lord and may occasionally start projects or ministries that involve a level of risk, such as the Café ministry. This will only take place after extensive prayer and consideration by the Elders of the churches who are also the trustees.
The OIKOS Café team carefully monitors Food Hygiene risk and in March 2024 has a Food Standards Agency rating of 4 for Food Hygiene.
The trustees recognise that in general the biggest potential risk that the charity faces is the area of child protection. Trustees received external trustee safeguarding training during this reporting year by The Christian Safeguarding Services. The charity has a safeguarding policy covering all activities with children and young people and adults at risk. Staff and volunteers receive appropriate training and information and are subject to all necessary checks e.g. via the Disclosure and Barring Service (DBS). Daniel Mandley, Jo Dearing, Keri Sheckler, Aura Donaldson and Clare Cox-Peel are the safeguarding leads.
As a Christian organisation, we aim to demonstrate the benefit we bring to local and wider communities. The Trustees have had due regard to guidance published by the Charity Commission on public benefit.
## **Relationships to other organisations**
The churches are members of the Fellowship of Independent Evangelical Churches (FIEC) and the charity has a working relationship with local churches in the surrounding area and across the UK. The churches are also connected with ACTS29, a church planting network providing assessment, coaching, training and support.
## **Charity Commission Policies**
During the year, a number of policies were reviewed and amended by the Trustees including:
- Safeguarding Policy
These policies are available at www.oikoscollective.co.uk/policies
1. Policy on Policies and Procedures
2. Conflicts of Interest Policy
3. Risk Management Policy
4. Whistleblowing policy
5. Complaints Handling Policy
6. Anti-bullying policy
Page 3
7. Management of Ex-Offenders policy
8. Volunteer Management Policy
9. Anti-Money Laundering policy
10. Safeguarding Policy
11. Photo and Video Policy
12. Recruitment of Staff and volunteers
13. Café Health and Safety Policy
14. Personal Electrical Appliances Policy
15. Fire Safety Policy
## **Objectives and Activities**
The charity’s purposes, as set out in the Company’s Articles of Association and Memorandum, are to:
- Advance the Christian faith;
- Relieve sickness and financial hardship, and promote and preserve good health in Erdington and such parts of the UK or the world that the Trustees may think fit; and
- Benefit and improve the condition of life for residents of Erdington and the city of Birmingham, without discrimination, and in a common effort with other organisations.
The objectives do not change, but the strategies and goals may change.
The aim of the charity is to see people in Birmingham becoming disciples of Jesus Christ, growing in discipleship and being disciple-makers to those around them. This is lived out through acting as family towards one another, serving the needs of those around us and living a life of mission to bring about the values of the Christian faith in our neighbourhood. All our policies, decisions and actions, and activities are guided by God’s word, the Bible.
These aims fully reflect the purposes that the charity was set up to further.
## **Achievements and Performance**
In line with our objectives, we have undertaken a broad range of activities to further the objectives through the period.
The charity’s current activities fall under four primary expressions; OIKOS Church, Second City Church, Hope Church and OIKOS Café. The activities of the charity are thus broken down under these headings.
## **OIKOS Church**
OIKOS Church have been meeting each Sunday at 10.30am to hear God’s Word preached. We aim to eat lunch together once a month. We have preached through James’ letter, a series on Prayers from the Old Testament; and a sermon series on what it means to be Devoted to One another.
For our Christmas Events we had over 400 people hear the Christmas Story again. And once more at Easter we held our annual Christian Passover Meal with over 100 people attending.
The conversational English Class is thriving, with over 20 regular attendees from multiple nations, with over 50 people utilising the service. We offer a free lunch followed by an optional Bible study. We have introduced a free weekly football tournament for asylum seekers and refugees in the local refugee hotel.
OIKOS used some of its tithe fund to support 2 mission partners. Extra one-off support has been given once again to one of these mission partners who has been in financial need.
The Mums and Toddlers’ Group continues to meet during the school term and has seen growth to over 30 mum’s attending. The leaders have initiated a time of prayer that all are invited to prior to the start, and also offer support to mum’s in the community through running regular social activities.
Page 4
Loving Little Ones continues to support a number of new mum’s have what they need to care for their babies. They received approximately £850 worth of baby goods during the financial year, and distributed around £600 worth of equipment and clothes to families most in need.
We still offer our regular community nights each month, which include a Quiz attended by 40 people from the community; a creative evening celebrating local music talent and we have introduced a free community meal with over 100 people attending each time.
The Church has grown over the past 12 months with more people attending our Gospel Community groups to read the Bible and to pastorally care for one another. We have increased to having 5 Gospel Communities from 4 with another 6 leaders having been trained to help co-lead the groups.
The number of children within the Church has grown which has seen a need for more Children’s workers for Sunday School.
## **Second City Church**
Second City church has continued to gather each Sunday for worship, prayer and teaching from the Bible. We partake in communion at least once a month. Over this last year, how we gather each Sunday has changed, from meeting in a building in the city centre to meeting in different peoples’ homes slightly further North in the city. This has happened to model and develop hospitality, and to encourage and equip our church to evangelise local communities and neighbours.
We meet at other times during the week for Bible study, fellowship and encouragement in the Christian faith. This has been helpful in building deeper relationships within our church.
We have had the joy of baptising 3 people who have become Christians in the last year.
We have been able to encourage and support a number of people who have arrived from Hong Kong. Being a part of Second city church has helped them to settle here in the UK and deepen their Christian faith.
Our ministries to students and asylum seekers continued through the first part of the year. It enabled us to have a big impact in helping asylum seekers, refugees, and students new to the city to receive a warm welcome and support. These ministries were put on pause in October 2023 when a number of our workers returned to the US.
Looking forward, we continue to focus on ministry to the people of Aston, Handsworth, Erdington and Jewellery Quarter. Our hope is to see worshipping communities start in each of these areas of the city in the next 12-18 months.
## **Hope Church**
Hope Church is located in the north-central part of Birmingham in the ward, Nechells. Nechells is a community of families and young people from diverse backgrounds. Fabrics of beauty that need the thread of Jesus to weave it together so a tapestry may display the glory of God.
The gospel is the purpose and message of Hope Church. People from many tribes, tongues and nations have the opportunity to hear the gospel through Sunday preaching, weekday evangelism and personal testimonies being shared.
Sunday worship attendance has increased over this year with an average between 50-60 each Sunday.
Formal discipleship is done through weekly ladies' and men's bible studies, children's clubs and youth club. Informally it happens through relationships, meals, and living life together.
Special events we ran were:
- Kids' Holiday Club during May 2023 half-term had 75 children attend and hear the gospel through Biblical stories .
- Summer Fun in the local park - Longest day of the summer offered Hope Church opportunity to serve refreshments to several hundred people from the Nechells community .
- Bonfire Night 2023 brought together over 150 people who enjoyed an evening at the Hope Church getting to know the church members, hearing testimonies, and having the opportunity to ask questions.
Page 5
- Christmas Outreach 2023 involved food packages and served almost 300 people. The gospel message was shared through song and word.
- Easter Outreach 2024 was also well attended with 120 people attending a Good Friday family event that involved a gospel message, a scavenger hunt through the Bible, hunting for eggs that were filled with bible verses and having a purpose for parents and children alike to enjoy time together. The greatest result being four families who have begun to sporadically attend Sunday worship service.
Weekly activities:
- Mondays - Ladies' Bible study sees 5-6 ladies attend regularly to dig into the Word, pray for one another and to spur each other to live out gospel truths;
- Mondays - Homework Club saw 50 children enrol with 40 attending weekly; each week children are taught a Bible story as the last part of the club.
- Tuesdays- Young Adult Bible Study has around 15 university students and single young adults come to gather to read and discuss Scripture; they went through the book of Mark.
- Wednesdays around 25 people gather weekly for a concentrated time in prayer; it is one of our most beloved times that we share as a body of Christ.
- Thursdays - Men's fellowship see anywhere between 5-8 men come together to study Scripture, encourage one another in their daily walks, and spur one another on.
- Fridays - Hope youth join with Oikos Collective youth for a time of Bible study, games and fun.
## **OIKOS Café**
OIKOS Café has been open for 8 years and continues to bless the community of Erdington. The number of people coming forward to volunteer increased significantly.
We continue to support 2 people from the local Special School with the aim of giving life skills to these individuals. We also have had a number of people with a background of addiction and also people seeking asylum come and serve in the café to learn skills to get a job in the future.
There has been a continued increase in room bookings, with several charities utilising the space. The ‘Sure Trust’ continues to use our upstairs room contracted twice a week to use the large upstairs room to help people get back into work.
The partnership with the Erdington Arts Forum has continued ensuring that the evening of Creativity each month thrives, championing local musicians and poets' work.
The weekly craft group sees a good number of women for the community come together to work on a craft activity and to talk.
## **Future Plans**
The 3 churches met together 3 times for a ‘Collective Celebration’, rejoicing together in what God has been doing through each of the churches. We want to expand its activities in line with the objectives through further ministry expressions, as well as through joint ‘Collective’ initiatives with the church communities and in partnership with other churches in the Birmingham area.
The charity took ownership of the property that Hope Church use from the FIEC.
## **Financial Review**
During the year income increased by £370,714 to £679,259, and expenditure increased by £19,455 to £335,207. As a result surplus for the year increased was £344,053 (2023: deficit of £7,207) and the charity's net assets increased by the same amount, to £498,133. Net current assets increased by £14,162, to £136,408.
Include in income for the year was the gift of a property from the Fellowship of Independent Evangelical Churches (FIEC) which the trustees have valued at £350,000.
Page 6
## **Reserves Policy**
The OIKOS Collective believes that the Reserve held by the charity should be of a sufficient amount to help the charity through any unforeseen circumstances. At the end of the year the charity held £32,494 in a Designated Reserves Fund. The goal is to reach a fund of approximately £50,000, which the trustees believe will be sufficient for its purpose. We recognise this figure has increased, which is due to the greater risks associated with owning a building.
## **Grant Making**
The charity puts approximately 10% of its donated income, not including grants, into a Tithing account that is available to be given to church planting organisations, churches seeking to plant new churches or church plants. During the year, £7’900 was put into this fund and £4’790 was paid out in gifts/grants. The balance of this designated fund currently stands at £7’785.
## **Café Ministry**
The financial goal of the cafe is to break even so as not to require financial support from the charity as a whole. However, due to the very challenging environment that the hospitality sector currently faces, with significant increase in energy, and food prices, the cafe ministry has had to lower paid staff numbers and increase sales prices to stay financially viable. These changes have put the cafe in a financially stable position but it is now reliant on volunteers more than ever.
## **Going Concern**
The Trustees have reviewed the circumstances of the charity and consider adequate resources continue to be available to fund the activities for the foreseeable future.
The Trustees are of the view that the charity is a going concern.
## **Trustees Responsibility Statement**
The Trustees are responsible for preparing the Trustees Annual Report 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 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 of the charity for that period. In preparing these financial statements, the trustees are required to:
- Select suitable accounting policies and then apply them consistently;
- Observe the methods and principles in the Charities SORP;
- Make judgements and estimates that are reasonable and prudent;
- State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping adequate accounting records that 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 Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008.
They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
## Dec 16, 2024
Approved by the trustees on _________________________
And signed on its behalf
## Dan Mandley
Dan Mandley (Dec 16, 2024 21:05 GMT)____________________________________
DANIEL MANDLEY
Trustee
Page 7
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF**
## **THE OIKOS COLLECTIVE ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024 on pages 9 to 23 following, which have been prepared on the basis of the accounting policies set out on pages 14 to 16.
## **Responsibilities and basis of report**
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner’s statement**
Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Lisa Darby Lisa Darby (Dec 18, 2024 10:48 GMT)
Lisa Darby FCA Institute of Chartered Accountants in England and Wales Stewardship 1 Lamb's Passage London EC1Y 8AB
Date: Dec 18, 2024
Page 8
## **THE OIKOS COLLECTIVE**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## **FOR THE YEAR ENDED 31 MARCH 2024**
|Note
**INCOME AND ENDOWMENTS FROM:**
Donations
3
Charitable activities
4
Investments
5
Other income
6
**Total income and endowments**
**EXPENDITURE ON:**
Charitable activities
6
**Total expenditure**
**Net gains/(losses) on investments**
**Net income/(expenditure)**
**Transfers between funds**
14
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
14|Unrestricted
Funds
£
480,198
174,128
1,167
-
655,493
310,913
310,913
-
344,580
19,929
364,509
125,433
489,942|Restricted
Funds
£
23,766
-
-
-
23,766
24,294
24,294
-
(527)
(19,929)
(20,456)
28,647
8,191|Total
Funds
2024
£
503,964
174,128
1,167
-
679,259
335,207
335,207
-
344,053
-
344,053
154,080
498,133|Total
Funds
2023
£
154,346
153,844
355
-|
|---|---|---|---|---|
|||||308,545|
|||||315,752|
|||||315,752|
|||||-|
|||||(7,207)
-|
|||||(7,207)
161,287|
|||||154,080|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing operations.
The statement of financial activities also complies with the requirements for an income and expenditure account required by the Companies Act 2006.
The notes on page 14-22 form part of these accounts.
Page 9
## **THE OIKOS COLLECTIVE**
## **BALANCE SHEET**
## **AS AT 31 MARCH 2024**
|Note
**FIXED ASSETS**
Tangible assets
8
**CURRENT ASSETS**
Stock
9
Debtors
10
Cash at bank and in hand
11
**CREDITORS: Amounts falling**
**due within one year**
12
**Net current assets / (liabilities)**
**Total assets less current liabilities**
**Net assets / (liabilities) excluding**
**pension asset / (liability)**
**TOTAL NET ASSETS**
**FUND BALANCES**
14
Unrestricted Funds
General funds
Designated funds
Restricted Funds|Unrestricted
Funds
£
361,724
361,724
2,381
2,401
143,443
148,224
(20,007)
128,217
489,942
489,942
489,942
449,663
40,279
489,942
-
489,942|Restricted
Funds
£
-
-
-
-
8,191
8,191
-
8,191
8,191
8,191
8,191
-
-
-
8,191
8,191|Total
Funds
2024
£
361,724
361,724
2,381
2,401
151,633
156,415
(20,007)
136,408
498,133
498,133
498,133
449,663
40,279
489,942
8,191
498,133|Total
Funds
2023
£
31,834|
|---|---|---|---|---|
|||||31,834|
|||||1,223
(1,428)
139,097|
|||||138,892
(16,646)|
|||||122,246|
||||||
|||||154,080|
|||||154,080|
|||||154,080|
|||||120,758
4,675|
|||||125,433
28,647|
|||||154,080|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.
Page 10
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006 however, in accordance with Section 145 of the Charities Act 2011, the accounts have been examined by an independent examiner and their report has been included in these financial statements.
- The directors (who are the charitable company's trustees for the purposes of charity law) acknowledge their responsibilities
- (a) ensuring that the charitable company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its net income or expenditure for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
The financial statements were approved by the Board of Directors and were signed on its behalf by:
Dan Mandley Dan Mandley (Dec 16, 2024 21:05 GMT) --------------------------------------DANIEL MANDLEY Dec 16, 2024 Date: ___________________
Company number: 07962108 Charity number: 1146963
The notes on page 14-22 form part of these accounts.
Page 11
## **THE OIKOS COLLECTIVE**
## **FOR THE YEAR ENDED 31 MARCH 2024**
## **CASH FLOW STATEMENT**
|**Cash flows from operating activities:**
**_Net cash provided by/(used in) operating activities_**
**Cash flows from investing activities:**
Dividends, interest and rents from investments
Proceeds from the sale of property, plant and equipment
Purchase of property, plant and equipment
Proceeds from sale of investments
Purchase of investments
**_Net cash provided by/(used in) investing activities_**
**Cash flows from financing activities:**
Repayments of borrowing
Cash inflows from new borrowing
Receipt of endowment
**_Net cash provided by/(used in) financing activities_**
**Analysis of changes in net debt:**
At start of
year
£
Cash
139,097
Bank loans:
Falling due within one year
-
Falling due after one year
-
Finance lease obligations:
Falling due within one year
-
Falling due after one year
-
Total net funds / (debt)
139,097
**Cash and equivalents at the beginning of the year**
**Change in cash and equivalents due to exchange rate movements**
**_Cash and cash equivalents at the end of the year_**
**_Change in cash and equivalents in the reporting period_**|Note
a
b
b
[Any non-cash
movements]
£
-|2024
£
11,369
1,167
1,167
-
12,536
139,097
-
151,633
Cash-flows
£
12,536
-
-
-
-
12,536|2023
£
15,474|
|---|---|---|---|
||||355
(3,952)|
||||(3,597)|
|||||
||||-|
|||||
||||11,877
127,220
-|
||||139,097|
||||At end of
year
£
151,633
-
-
-
-|
||||151,633|
Page 12
## **THE OIKOS COLLECTIVE**
## **FOR THE YEAR ENDED 31 MARCH 2024**
## **NOTES TO THE CASH FLOW STATEMENT**
## **Note a: Reconciliation of net income/(expenditure) to net cash flow from operating activities**
|**Adjustments for:**
Depreciation charges and provisions for impairment
(Gains)/losses on investments
Donated property income
Dividends, interest and rents from investments
Loss/(profit) on the sale of fixed assets
(Increase)/decrease in stocks
(Increase)/decrease in debtors
Increase/(decrease) in creditors
**_Net cash provided by (used in) operating activities_**
**Note b: Analysis of cash and cash equivalents**
Cash at bank with immediate access
Notice deposits (with a term of three months or less)
Petty cash
**Total cash and cash equivalents**
**_Net income/(expenditure) for the reporting period (as per the statement of financial_**
**_activities)_**|2024
£
344,053
10,255
-
(350,000)
(1,167)
9,855
(1,158)
(3,829)
3,361
11,369
2024
£
151,603
-
30
151,633|2023
£
(7,207)
12,526
-
(355)
-
2,106
8,404|
|---|---|---|
|||15,474|
|||2023
£
139,087
-
10|
|||139,097|
Page 13
## **THE OIKOS COLLECTIVE**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 MARCH 2024**
## **1 Statutory Information**
The charity is a charitable company limited by guarantee and is incorporated in the United Kingdom. The company's registered number and registered office address can be found on the Company Information page.
## **2 Accounting Policies**
These financial statements are prepared on a going concern basis, under the historical cost convention.
These financial statements have been prepared in accordance with the "Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102"), with the Companies Act 2006 and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.
The principles adopted in the preparation of the financial statements are set out below.
## a) Going concern
The trustees (who are the charitable company's directors for the purposes of company law) have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.
## b) Income
Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.
Income from donations includes:
- i) Recoverable gift aid. This is recognised when the related donation is received. Gift aid that has not been recovered by the balance sheet date is included as a debtor.
The charity relies on volunteers to carry out many of its activities. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.
When donated goods, services and facilities are distributed or consumed, an expense in respect of those items is included in the Statement of Financial Activities. At the year end any goods that have not been distributed or consumed are recognised as stock; donated fixed assets are capitalised.
The charity has taken the view that it has two charitable activities, namely the advancement of the Christian faith through three churches and the operation of a Christian café. The café income is separately disclosed in note 4 as Income from Charitable Activities.
## c) Expenditure
Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured
The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.
The cost of raising funds is not significant and has not been separately disclosed.
The charity's overheads, being costs that have not been incurred directly on a charitable activity, have been allocated to the charity's two defined activities in note 4d using the percentage split in directs costs by activities to allocate them.
Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.
Page 14
## **THE OIKOS COLLECTIVE**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 MARCH 2024**
- d) 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. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.
## e) Tangible fixed assets
Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £1,000 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective the following rates of depreciation are charged:
Freehold land Is not depreciated (because it is not consumed by use) Freehold buildings Over 50 years after taking account of the building's residual value Leasehold improvements Over the lease term or, if shorter, expected useful life Equipment Over 3 to 7 years
The carrying values of tangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate that the carrying value may not be recoverable.
## f) Investments
Fixed asset investments are held to generate income and / or for their investment potential. Current asset investments are investments that are held specifically for sale or are investments that the charity expects to sell by the next balance sheet date. Investments, other than social investments (see below), are valued as follows:
- i) Investment property and listed investments are valued at their market value (fair value) at the balance sheet date.
- ii) Unlisted investments are measured at cost less impairment where it becomes apparent that the amount that could be realised is less than cost.
Social investments are investments where the primary motive is to further the charity's objects, not to generate an investment return. Social investments comprise :
Mixed motive investments are investments that are held both to generate a financial return and to contribute to the furtherance of the charity's objects.
Impairment losses and losses arising on the disposal of social investments are included in the Statement of Financial Activities under the heading 'Expenditure on charitable activities'. Gains arising on the disposal of social investments are included in the Statement of Financial Activities under the heading 'Other income'. All other gains and losses on investment assets are included in the Statement of Financial Activities under the heading 'Net gains / (losses) on investments'.
## g) Stocks
Stocks of goods purchased for re-sale are stated at the lower of cost and net realisable value.
## h) Pension scheme arrangements
The charity operates defined contribution pension schemes for its employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds.
## i) Taxation
The company is a registered charity; it has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.
## j) Financial instruments
The charity's financial assets and financial liabilities all qualify as basic financial instruments, as defined by FRS102. Except for loans, creditors and debtors are measured at their expected settlement value (normally the amount of cash that the charity expects to pay or receive). The charity recognises liabilities for the principal of those loans that remains outstanding at the year end (i.e. the liabilities exclude any interest chargeable on the loans in future years).
Page 15
## **THE OIKOS COLLECTIVE**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 MARCH 2024**
## k) Foreign currency translation
These financial statements are presented in sterling, which is the charity's functional currency.
- i) Income and expenditure denominated in a foreign currency is translated into sterling at the exchange rate prevailing on the date of the transaction.
- ii) Monetary assets and liabilities denominated in a foreign currency are re-translated at the exchange rate prevailing at the balance sheet date.
iii) Non-monetary assets are measured at historic cost at the rate of exchange prevailing on the date of the transaction and are not subsequently re-translated.
All differences arising from the application of the above policy are charged (or credited) to the Statement of Financial Activities.
## l) Critical accounting estimates and areas of judgement
The trustees do not consider that there are any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period.
ln preparing financial statements certain judgements, estimates and assumptions have to be made that affect the amounts recognised in the financial statements. The trustees consider the following to be significant:
- i) The annual depreciation charge for property, plant and equipment is sensitive to changes in the estimates for useful economic life and residual value. These estimates are reassessed annually and, when necessary, adjusted to reflect current circumstances.
- ii) The valuation of the property gifted to the charity in the 2023/24 year. The trustees have valued the property at £350,000 in the financial statements based on the insurance value at the time of the donation.
## **3 Donations**
|Donations of cash and similar
Gifts in kind
Other grants receivable
**4**
**Income from charitable activities**
Oikos Café
**5**
**Investment income**
Bank interest
**6**
**Charitable expenditure**
**a**
**Costs incurred directly on specific activities**
Church Operations
Employment costs
Property related costs
Training and Conferences
Hospitality and travel costs
Equipment purchases
Church events & ministry costs
Café Operations
Employment costs
Property related costs
Costs of goods sold
Other costs
Grants payable (note 6c)|2024
£
144,173
350,000
9,791
503,964
2024
£
174,128
174,128
2024
£
1,167
1,167
2024
£
81,908
19,252
1,810
745
3,362
13,800
56,570
42,804
54,900
1,163
276,314
10,446
286,760|2023
£
154,346
-
-|
|---|---|---|
|||154,346|
|||2023
£
153,844|
|||153,844|
|||2023
£
355|
|||355|
|||2023
£
86,272
19,044
5,034
1,161
-
7,632
50,154
46,224
56,656
1,385|
|||273,562
14,564|
|||288,126|
Page 16
## **THE OIKOS COLLECTIVE**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 MARCH 2024**
|**b**
**Costs incurred on support & administration**
Governance costs
Independent examiner's fee
Other
Offices and Support activities
Bank charges
Legal and Professional costs
Depreciation of tangible fixed assets
Loss on Disposal of tangible fixed assets
Insurance
**Total expenditure**|2,850
-
2,850
17,572
2,346
11,243
10,183
72
4,180
48,446
335,207|750
354|
|---|---|---|
|||1,104
13,996
-
-
12,526
-|
|||27,626|
|||315,752|
The fee payable to the independent examiner for preparing and examining the accounts was £2,850 (2023: £750).
## **c Grants payable**
|**Grants payable**||||
|---|---|---|---|
|Grants for UK and overseas mission
Grants for the relief of poverty
The comparatives for the previous year are as follows:
Grants for UK and overseas mission
Grants for the relief of poverty
The charity's principal grants to institutions comprised:
Greater Europe Mission (UK)
ChurchCentral Trust
Operation Mobilisation
Grants to institutions for less than £1,000 each|Institutions
£
7,996
7,996
Institutions
£
11,305
-
11,305|Individuals
£
2,200
250
2,450
Individuals
£
2,100
1,159
3,259
2024
£
5,200
2,400
-
396
7,996|2024
£
10,196
250|
||||10,446|
||||2023
£
13,405
1,159|
||||14,564|
||||2023
£
6,015
2,200
2,290
800|
||||11,305|
## **d Total Expenditure split by Charitable Activity**
|Costs incurred on specific activities
Grants Payable
Depreciation
Legal and professional fees
Other support & admininstration costs||2024|Total
£
276,314
10,446
10,183
11,243
27,021
335,207||2023||
|---|---|---|---|---|---|---|
||Church
£
120,878
10,446
8,916
11,243
11,821
163,303|Café
£
155,437
1,267
15,200
171,903||Church
£
119,143
14,564
11,682
-
6,576
151,965|Café
£
154,419
844
-
8,524
163,787|Total
£
273,562
14,564
12,526
-
15,100|
|||||||315,752|
Other support and administration costs have been allocated between the activities based on costs incurred in specific activity levels.
Page 17
## **THE OIKOS COLLECTIVE**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 MARCH 2024**
## **7 Analysis of staff costs, the cost of key management personnel and trustee remuneration**
The average monthly number of employees during the year was 7 (2023: 7). Most of the charity's activities are carried out by volunteers.
No staff received salaries at a rate of more than £60,000 per annum.
The charity's key management comprise the trustees and the key staff named on the Company Information page. Total employment benefits payable to key management for the year were as follows:
## **Staff Costs**
|Social security costs
Other pension costs
Gross Pay|2024
£
129,185
6,026
3,340
138,551|2023
£
127,204
5,934
3,289|
|---|---|---|
|||136,426|
|Other
Employer
Wages &
employment
pension
salaries
benefits
contributions
Trustees:
J Dearing - Church Leader
18,524
415
D Mandley - Pastor
35,990
1,140|2024
£
18,939
37,130|
|---|---|
||56,069|
The following amounts were payable in the previous year:
|following amounts were payable in the previous year:||
|---|---|
|Other
Employer
Wages &
employment
pension
salaries
benefits
contributions
Trustees:
J Dearing - Church Leader
22,340
483
D Mandley - Pastor
31,178
766|2023
£
22,823
31,944|
||54,767|
Jeremy Dearing and Daniel Mandley served as church leaders and received the above payments for serving in that capacity, not for serving as trustees; these payments are permitted by the charity's governing document.
- **8 Tangible fixed assets**
|Cost
At 1 April 2023
Additions
Disposals
At 31 March 2024
Accumulated depreciation
At 1 April 2023
Charge for the year
Eliminated on disposal
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023|Freehold
Property
£
-
350,000
-
350,000
-
-
-
-
350,000
-|Fixtures,
fittings and
equipment
£
45,678
-
(23,195)
22,483
30,232
2,804
(13,268)
19,768
2,715
15,446|Leasehold
Improvements
£
73,788
-
-
73,788
57,400
7,379
64,779
9,009
16,388|Total
2024
£
119,466
350,000
(23,195)|
|---|---|---|---|---|
|||||446,271|
|||||87,632
10,183
(13,268)|
|||||84,547|
|||||361,724|
|||||31,834|
In the year, the charity was gifted a property by the FIEC. This has been valued at £350,000 by the trustees, based on the insurance value.
Page 18
## **THE OIKOS COLLECTIVE**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 MARCH 2024**
## **9 Stock**
|Purchased, at cost
**10**
**Debtors**
**Falling due within one year:**
Trade debtors
Prepayments and accrued income
**Total debtors**
**11**
**Cash at Bank and in Hand**
Cash at bank with immediate access
Petty cash
**12**
**Creditors: liabilities falling due within one year**
Trade creditors
Taxation and social security
Other creditors
Accruals|2024
£
2,381
2,381
2024
£
330
2,071
2,401
2,401
2024
£
151,603
30
151,633
2024
£
10,555
6,900
(297)
2,850
20,007|2023
£
1,223|
|---|---|---|
|||1,223|
|||2023
£
(1,428)
-|
|||(1,428)|
|||(1,428)|
|||2023
£
139,087
10|
|||139,097|
|||2023
£
13,379
2,317
200
750|
|||16,646|
## **13 Pension commitments**
During the year employer’s pension contributions totalling £3,204 (2022: £2,567) were payable to defined contribution personal pension schemes. No pension contributions were owing at the balance sheet date (2022: £nil).
Page 19
## **THE OIKOS COLLECTIVE**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 MARCH 2024**
## **14 Funds**
During the year the movements in the charity's funds were as follows:
|_Designated Funds_
Tithe fund
Reserves fund
_General Unrestricted Funds_
Total Unrestricted Funds
_Restricted Funds_
Building Acquisition
Community Meal
English Classes
HUB Office
J Dearing (Pastor)
Leadership Training
Travel Expenses
Other restricted funds
Aggregate of funds|Opening
balance
2024
£
4,675
-
4,675
120,758
125,433
5,961
-
-
2,757
-
-
-
19,929
28,647
154,080|Incoming
resources
2024
£
-
-
-
655,493
655,493
-
250
250
18,080
2,250
2,250
686
-
23,766
679,259|Outgoing
resources
2024
£
(4,790)
-
(4,790)
(306,123)
(310,913)
(5,961)
-
-
(18,333)
-
-
-
-
(24,294)
(335,207)|Transfers
in the year
2024
£
7,900
32,494
40,394
(20,465)
19,929
-
-
-
-
-
-
-
(19,929)
(19,929)
-|Gains and
losses
2024
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|Closing
balance
2024
£
7,785
32,494|
|---|---|---|---|---|---|---|
|||||||40,279
449,663|
|||||||489,942|
|||||||-
250
250
2,504
2,250
2,250
686
-|
|||||||8,191|
|||||||498,133|
The transfers referred to above were made for the following reasons:
a) The creation of a new designated fund - the Reserves Fund
b) The designation of funds to be set aside for grantmaking in the Tithe Fund.
c) A correction of an historic error which previously classified the reserve fund as restricted rather than designated.
## **Analysis of net assets by fund**
The assets and liabilities of the various funds were as follows:
|**lysis of net assets by fund**
assets and liabilities of the various funds were as follows:||||
|---|---|---|---|
|Tangible fixed assets
Stock
Debtors
Cash at bank and in hand
Creditors falling due within one year|General
Designated
funds
funds
£
£
361,724
2,381
2,401
103,163
40,279
(20,007)
449,663
40,279
Unrestricted Funds|Restricted
funds
£
8,191
8,191|2024
£
361,724
2,381
2,401
151,633
(20,007)|
||||498,133|
Page 20
## **THE OIKOS COLLECTIVE**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 MARCH 2024**
In the previous year the movements in the charity's funds were as follows:
|_Designated Funds_
Tithe fund
_General Unrestricted Funds_
Total Unrestricted Funds
_Restricted Funds_
All Funds
Aggregate of funds|Opening
balance
2023
£
4,675
4,675
135,383
140,058
21,229
21,229
161,287|Incoming
resources
2023
£
-
-
301,127
301,127
7,418
7,418
308,545|Outgoing
resources
2023
£
-
-
(315,752)
(315,752)
-
-
(315,752)|Transfers
in the year
2023
£
-
-
-
-
-
-
-|Gains and
losses
2023
£
-
-
-
-
-
-|Closing
balance
2023
£
4,675|
|---|---|---|---|---|---|---|
|||||||4,675
120,758|
|||||||125,433|
|||||||28,647|
|||||||28,647|
|||||||154,080|
## **Analysis of net assets by fund**
In the previous year, the assets and liabilities of the various funds were as follows:
|Tangible fixed assets
Stock
Debtors
Cash at bank and in hand
Creditors falling due within one year|General
Designated
funds
funds
£
£
31,834
1,223
(1,428)
105,775
4,675
(16,646)
120,758
4,675
Unrestricted Funds|Restricted
funds
£
28,647
28,647|2023
£
31,834
1,223
(1,428)
139,097
(16,646)|
|---|---|---|---|
||||154,080|
## **Fund Descriptions**
The **Tithe Fund** is a designated fund which the individual churches within the charity put aside to be used to support other church planting activities. These are given as grants to external organisations or individuals.
The **Reserves Fund** a fund holding the charity's reserves as per the reserves policy. The funds can be used by the charity pending trustee approval should the charity find itself in unforeseeen financial difficulties.
The **HUB Office Fund** is a fund used only for the purpose of covering operational costs of running the office space and is restricted. The building that the charity rents is shared by other organsations and to cover the reunning costs of the building each user pays a contribution each month.
The other funds are for the purposes described in their title.
Annually the trustees set aside some of the charity's income for grant giving to institutions and individuals who undertake activities that further the charity's own objects. It is anticipated that all of the funds designated for this purpose will be distributed in the new financial year.
Page 21
## **THE OIKOS COLLECTIVE**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 MARCH 2024**
## **15 Operating lease commitments**
The charity has an operating lease for its cafe. The minimum amount payable (until the next break clause and ignoring the potential effect of future rent reviews) in respect of this lease is as follows:
|
effect of future rent reviews) in respect of this lease is as follows:|||
|---|---|---|
|Within one year
Between one and five years
After five years
Payments falling due:|2024
£
18,750
9,375
-
28,125|2023
£
18,750
28,125
-|
|||46,875|
During the year the charity was charged £18,750 (2023: £17,188) for its operating lease. There is an annual break clause on the lease and the lease expires on 24th August 2025 at which point the charity expects to renegotiate the terms of the lease.
## **16 Transactions with related parties**
During the year the charity:
- a) received donations totalling £19,467 (2023: £20,732) from related parties (which includes trustees, any other members of key management and anyone closely connected to them).
Except as disclosed in note 'Analysis of staff costs', there have been no other transactions with related parties during the year.
## **17 Members**
Each member of the company commits to contribute if the charity is wound up an amount of £10.
Page 22
## **THE OIKOS COLLECTIVE**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES**
## **FOR THE YEAR ENDED 31 MARCH 2024**
|Note
**INCOME AND ENDOWMENTS FROM:**
Donations
3
Charitable activities
4
Investments
5
**Total income and endowments**
**EXPENDITURE ON:**
Charitable activities:
6
**Total Expenditure**
**Net income/(expenditure)**
**Transfers between funds**
14
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
14||General
Designated
2024
2024
£
£
480,198
-
174,128
-
1,167
-
655,493
-
306,123
4,790
306,123
4,790
349,370
(4,790)
(20,465)
40,394
328,905
35,604
120,758
4,675
449,663
40,279
Unrestricted funds|Restricted
2024
£
23,766
-
-
23,766
24,294
24,294
(527)
(19,929)
(20,456)
28,647
8,191|Total
2024
£
503,964
174,128
1,167
679,259
335,207
335,207
344,053
-
344,053
154,080
498,133|||General
Designated
2023
2023
£
£
148,331
-
152,441
-
355
-
301,127
-
315,752
-
315,752
-
(14,625)
-
-
-
(14,625)
-
135,383
4,675
120,758
4,675
Unrestricted funds|Restricted
2023
£
6,015
1,403
7,418
-
-
7,418
-
7,418
21,229
28,647|Total
2023
£
154,346
153,844
355
308,545
315,752
315,752
(7,207)
-
(7,207)
161,287
154,080|
|---|---|---|---|---|---|---|---|---|---|
Page 23