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2020-12-31-accounts

REGISTERED COMPANY NUMBER: 07877036 (England and Wales) REGISTERED CHARITY NUMBER: 1147040

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

OASIS CHURCH COLLIERS WOOD

GBJ LLP Statutory Auditor Sterling House 27 Hatchlands Road Redhill Surrey RH1 6RW

OASIS CHURCH COLLIERS WOOD

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

Page
Strategic Report 1 to 3
Report of the Trustees 4 to 5
Report of the Independent Auditors 6 to 9
Statement of Financial Activities 10
Balance Sheet 11
Cash Flow Statement 12
Notes to the Cash Flow Statement 13
Notes to the Financial Statements 14 to 24
Detailed Statement of Financial Activities 25 to 26

OASIS CHURCH COLLIERS WOOD

STRATEGIC REPORT FOR THE YEAR ENDED 31 DECEMBER 2020

The trustees present their strategic report for the year ended 31 December 2020.

The Directors present their strategic report and financial statements of Oasis Church Colliers Wood (Registered Company Number 07877036 and Registered Charity Number 1147040) for the period ended 31st December 2020.

Directors Responsibilities and Functions:

The Directors listed on Page 1 are the signatories to this Report. A new Director, Antoinette Johnson was appointed on 31st January 2020. The method of appointing and discharging Directors is that the current Directors have the power to appoint additional Directors or to discharge existing Directors, but there are overall requirements that the number of Directors is not less than three nor more than seven and that Directors are required to be members of Oasis Church, Colliers Wood.

The Directors are responsible for preparing the strategic report, the annual report and financial statements in accordance with applicable law and regulations. Company law requires the Directors to prepare financial statements for each financial year.

The Directors have no retained professional legal advisers; their bankers are National Westminster Bank plc of 16 Wimbledon Hill Road, Wimbledon SW19. Dzifa Ayidah remained as Treasurer. Duncan Moass serves as Company Secretary. The Independent Examiner is N.I Green of GBJ LLP, Sterling House, 27 Hatchlands Road, Redhill, Surrey RH1 6RW.

The Directors have quarterly meetings during which they examine the financial reports and activities as well as look at their other governance obligations.

Aims and Objectives:

Oasis Church Colliers Wood operates as a local Church in the Colliers Wood area of southwest London. Whilst it is independently constituted, in December 2020 was affiliated to the London Baptist Association and Partners in Harvest, a similar affiliation of like-minded churches that has grown out of the so-called "Toronto Blessing".

Activities:

The activities of the Church are the usual ones which could be expected of an evangelical Church, being Sunday worship services, weekly renewal meetings at the Church (for Church members and serving the wider Church body), meetings of Church members in homes, evangelistic outreaches, etc.

During the year, the church suspended many in-person communal activities in accordance with Government regulations and guidance concerning Covid 19, and services on Sundays and Wednesdays were streamed live. Viewing figures were regularly over 500, often over 750 and occasionally over 1000 viewers. The church completed its commitment to the Merton Winter Night shelter from January-March, and many activities took place over Zoom and other electronic means. Cell groups, Healing Zoom, Bible study, Men's Listening Post, youth work, children's work and over 60s tea parties are among the events that happened electronically. A wellbeing survey of the whole church took place and resulted in several specialised groups including a check-in-and-chat telephone contact service being set up as a result. Staff and volunteers organised food deliveries and any physical support for church members and others in need during 2020

Work on the final aspects of the youth church has been considerably delayed during this time.

Apart from at the main centre in Colliers Wood, many activities in Epsom at Longmead Centre, Sefton Road, in Walton-on-Thames at Walton Day Centre, Manor Road and in Redhill, at Salfords Primary School, Copsleigh Avenue were rearranged to conform to Government guidelines.

During the year, Directors continued to ensure that the Company complied with the requirements of GDPR and data protection.

-1-

OASIS CHURCH COLLIERS WOOD

STRATEGIC REPORT FOR THE YEAR ENDED 31 DECEMBER 2020

With reference to size, the Church had 434 core members and nearly 300 others associating with the Church as at 31st December 2020.

Leadership: The leadership structure of the Church is that there is a full-time pastor (Sam Onyenuforo), two part-time pastors who serve at our plants in Epsom and the Asian Fellowship, and staff fulfilling various ministry and administrative roles; along with the pastors, there are unpaid elders with shared overall responsibility for the Church and others holding responsibility for the Church work.

Finance

The primary source of the income is derived from donations and legacies given by Church members. The church's income has largely been maintained during the year despite the closure of all activities, Oasis Church (Colliers Wood) and the smaller church plants of Epsom, Walton and Redhill have had to cease many physical meetings since March 2020 due to the Covid crisis. This could have caused cash flow problems, and the Directors and Elders of the Church have employed every means appropriate to maintain the stability of the church and its members, and our financial situation. Where possible, staff have been furloughed with the benefit HMRC scheme payments and loan payment holidays have been negotiated, and many church functions have been paused.

The Directors are looking into the effect that the cessation of furlough and payment holidays will have on the company's cashflow, but with the current expansion projects and many church functions remaining paused; with continued careful planning, they do not anticipate any need to access the reserve account. The Company has various designated and restricted funds, listed in the accounts, including a "Jubilee Fund" that receives 10% of the Church income and any other specific gifts. This fund is administered by a minimum of three members. This is overseen by the Directors and was set up for the advancement of the Christian faith, and/or as an expression of Christian love. These gifts have continued to be given.

The directors remain satisfied that the church's financial position remains secure despite the pandemic.

Risk Register

The Directors have reviewed the risks to which the Company may be exposed and have developed a risk register which is reviewed and updated quarterly. The Company also has a Health and Safety Policy and a Safeguarding Policy, which is reviewed on a regular basis.

Reserves Policy

The Directors have developed a reserves policy which is reviewed every year. It is anticipated that any surplus income, at the close of the year, would be carried forward during the following year while retaining sufficient funds to meet the charity's stated or planned commitments.

The Directors aim to have reserves amounting to not less than GBP 200,000 on an ongoing basis, but in 2019 took the view that it would be more beneficial to temporarily reduce this figure to £100,000 rather than take out a further loan for the completion of the new building. The reserves have since been replenished in accordance with the policy..

Disclosure of Information to Independent Examiner:

In the case of each of the persons who are Directors of the Company at the date when this report was approved:

-2-

OASIS CHURCH COLLIERS WOOD

STRATEGIC REPORT FOR THE YEAR ENDED 31 DECEMBER 2020

This confirmation is given and should be interpreted in accordance with the provisions of S418 of the Companies Act 2006.

Approved by order of the board of trustees on 3 November 2021 and signed on its behalf by:

I Berle - Trustee

-3-

OASIS CHURCH COLLIERS WOOD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

07877036 (England and Wales)

Registered Charity number

1147040

Registered office

1-27 Fortescue Road Colliers Wood London SW19 2EA

Trustees

D Moass Crown Prosecutor I Berle Retired NHS Manager A A Alli Accountant T Q M Clements Administrator D Mahtani Management Consultant (resigned 12/4/2020) Miss J Takyi Miss A C Johnson (appointed 5/5/2020)

Company Secretary

D Moass

Auditors

GBJ LLP Statutory Auditor Sterling House 27 Hatchlands Road Redhill Surrey RH1 6RW

Bankers

NatWest Bank PLC 16 Wimbledon Hill Road Wimbledon London SW19 7ZD

-4-

OASIS CHURCH COLLIERS WOOD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Oasis Church Colliers Wood for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law 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 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 those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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 so far as the trustees are aware:

AUDITORS

The auditors, GBJ LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Approved by order of the board of trustees on 3 November 2021 and signed on its behalf by:

I Berle - Trustee

-5-

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF OASIS CHURCH COLLIERS WOOD

Opinion

We have audited the financial statements of Oasis Church Colliers Wood (the 'charitable company') for the year ended 31 December 2020 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

-6-

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF OASIS CHURCH COLLIERS WOOD

Matters on which we are required to report by exception

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

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

Responsibilities of trustees

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

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

-7-

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF OASIS CHURCH COLLIERS WOOD

Our responsibilities for the audit of the financial statements

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We enquired of management concerning the Company's policies and procedures relating to:

The Company is subject to many laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements. We identified the following laws and regulations as the most likely to have a material effect if non-compliance were to occur; United Kingdom Generally Accepted Accounting Practice, the Companies Act 2006, tax legislation, anti-bribery legislation, GDPR and employment law.

We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur, by evaluating management's incentives and opportunities for manipulation of the financial statements. This included the evaluation of the risk of management override of controls. We determined that the principal risks were in relation to:

It is the audit partner's assessment that the audit team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations.

We obtained an understanding of the Company's operations, including the nature of its revenue sources, products and services and of its objectives and strategies to understand the classes of transactions, account balances, expected financial statement disclosures and business risks that may result in risks of material misstatement. We also considered the effectiveness of the Company's control environment to identify and prevent any irregularities and fraud.

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

-8-

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF OASIS CHURCH COLLIERS WOOD

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

N I Green (Senior Statutory Auditor) for and on behalf of GBJ LLP Statutory Auditor Sterling House 27 Hatchlands Road Redhill Surrey RH1 6RW

3 November 2021

-9-

OASIS CHURCH COLLIERS WOOD

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

2020
Unrestricted
Restricted
Total
fund
funds
funds
Notes
£
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
653,394
56,496
709,890
Other trading activities
3
5,040
-
5,040
Investment income
4
79
-
79
Other income
(87)
-
(87)
Total
658,426
56,496
714,922
EXPENDITURE ON
Raising funds
5
500,312
58,051
558,363
Charitable activities
6
Missions, outreach and evangelism
2,234
3,940
6,174
Social care
34,168
-
34,168
Total
536,714
61,991
598,705
NET INCOME/(EXPENDITURE)
121,712
(5,495)
116,217
Transfers between funds
18
(60,000)
60,000
-
Net movement in funds
61,712
54,505
116,217
RECONCILIATION OF FUNDS
Total funds brought forward
1,186,745
1,997,847
3,184,592
TOTAL FUNDS CARRIED FORWARD
1,248,457
2,052,352
3,300,809		 2019
Total
funds
£
830,994
151
298
-
831,443
572,311
30,935
71,544
674,790
156,653
-
156,653
3,027,939
3,184,592

The notes form part of these financial statements

-10-

OASIS CHURCH COLLIERS WOOD

BALANCE SHEET 31 DECEMBER 2020

Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
13
894,956
CURRENT ASSETS
Debtors
14
94,252
Cash at bank and in hand
335,803
430,055
CREDITORS
Amounts falling due within one year
15
(76,554)
NET CURRENT ASSETS
353,501
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,248,457
CREDITORS
Amounts falling due after more than one year
16
-
NET ASSETS
1,248,457
FUNDS
18
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
2,285,116
-
11,807
11,807
(49,762)
(37,955)
2,247,161
(194,809)
2,052,352		 2020
Total
funds
£
3,180,072
94,252
347,610
441,862
(126,316)
315,546
3,495,618
(194,809)
3,300,809
1,248,457
2,052,352
3,300,809		 2019
Total
funds
£
3,182,444
75,342
220,352
295,694
(69,851)
225,843
3,408,287
(223,695)
3,184,592
1,186,745
1,997,847
3,184,592

The financial statements were approved by the Board of Trustees and authorised for issue on 3 November 2021 and were signed on its behalf by:

I Berle - Trustee

The notes form part of these financial statements

-11-

OASIS CHURCH COLLIERS WOOD

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2020

Notes
Cash flows from operating activities
Cash generated from operations
1
Interest paid
Finance costs paid
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Sale of tangible fixed assets
Net cash used in investing activities
Cash flows from financing activities
New loans in year
Loan repayments in year
Net cash (used in)/provided by financing activities
Change in cash and cash equivalents
in the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end
of the reporting period		 2020
£
244,462
(6,239)
(1,780)
236,443
(72,172)
182
(71,990)
-
(37,195)
(37,195)
127,258
220,352
347,610		 2019
£
279,544
(12,841)
(2,813)
263,890
(397,764)
-
(397,764)
150,000
(58,439)
91,561
(42,313)
262,665
220,352

The notes form part of these financial statements

-12-

OASIS CHURCH COLLIERS WOOD

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2020

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
2020 2019
£ £
Net income for the reporting period (as per the Statement of
Financial Activities) 116,217 156,653
Adjustments for:
Depreciation charges 74,274 73,489
Loss on disposal of fixed assets 87 -
Interest paid 6,239 12,841
Finance costs 1,780 2,813
(Increase)/decrease in debtors (18,910) 27,066
Increase in creditors 64,775 6,682
Net cash provided by operations 244,462 279,544
2. ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS
At 1.1.20 Cash flow At 31.12.20
£ £ £
Net cash
Cash at bank and in hand 220,352 127,258 347,610
220,352 127,258 347,610
Debt
Debts falling due within 1 year (58,072) 8,310 (49,762)
Debts falling due after 1 year (223,695) 28,886 (194,809)
(281,767) 37,196 (244,571)
Total (61,415) 164,454 103,039

The notes form part of these financial statements

-13-

OASIS CHURCH COLLIERS WOOD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 2% on cost Plant and machinery - 25% on reducing balance Fixtures and fittings - 25% on reducing balance Computer equipment - 25% on cost

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

continued...

-14-

OASIS CHURCH COLLIERS WOOD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

2.
DONATIONS AND LEGACIES
Donations
Gift aid
3.
OTHER TRADING ACTIVITIES
Conferences, bookstall & sundry
4.
INVESTMENT INCOME
Bank interest received
5.
RAISING FUNDS
Raising donations and legacies
Trustees' remuneration etc
Staff costs
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Church running costs
Youth and childrens' work
Publicity and advertising
Office expenditure
Property maintenance
Music and worship
Social and recreational
Ministerial and pulpit fees
Training and volunteers
Motor and travel costs
Tithe to Jubilee
Depreciation
Interest payable and similar charges
Support costs		 2020
£
615,638
94,252
709,890
2020
£
5,040
2020
£
79
2020
£
-
324,070
1,239
6,931
14,350
1,373
4,090
457
1,237
10
6,916
34,695
7,825
6,926
8,652
2,323
-
46,315
74,274
8,019
8,661
558,363		 2019
£
723,084
107,910		 2019
£
723,084
107,910
830,994
2019
£
151
2019
£
298
2019
£
5,054
299,805
1,358
6,628
8,769
1,863
7,932
2,698
7,071
300
14,251
26,488
10,709
33,595
14,825
5,706
280
27,684
73,489
15,654
8,083		 2019
£
151
2019
£
298
572,242

continued...

-15-

OASIS CHURCH COLLIERS WOOD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

5.
RAISING FUNDS - continued
Other trading activities
Purchases
Aggregate amounts
6.
CHARITABLE ACTIVITIES COSTS
Missions, outreach and evangelism
Social care
7.
GRANTS PAYABLE
Missions, outreach and evangelism
Social care
8.
SUPPORT COSTS
Raising donations and legacies		 2020
2019
£
£
-
69
558,363
572,311
Grant
funding of
activities
(see note
7)
£
6,174
34,168
40,342
2020
2019
£
£
6,174
30,935
34,168
71,544
40,342
102,479
Governance
costs
£
8,661		 2019
£
69
572,311		 2019
£
69

continued...

-16-

OASIS CHURCH COLLIERS WOOD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

8. SUPPORT COSTS - continued

Support costs, included in the above, are as follows:

2020
2019
Raising
donations
and
Total
legacies
activities
£
£
Auditors' remuneration
7,500
7,800
Auditors' remuneration for non audit
work
-
283
Legal and professional fees
1,161
-
8,661
8,083
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2020
2019
£
£
Auditors' remuneration
7,500
7,800
Other non-audit services
-
283
Depreciation - owned assets
74,275
73,490
Deficit on disposal of fixed assets
87
-
TRUSTEES' REMUNERATION AND BENEFITS
2020
2019
£
£
Trustees' salaries
-
4,640
Trustees' social security
-
182
Trustees' pension contribution
-
232
-
5,054		 2020
2019
Raising
donations
and
Total
legacies
activities
£
£
Auditors' remuneration
7,500
7,800
Auditors' remuneration for non audit
work
-
283
Legal and professional fees
1,161
-
8,661
8,083
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2020
2019
£
£
Auditors' remuneration
7,500
7,800
Other non-audit services
-
283
Depreciation - owned assets
74,275
73,490
Deficit on disposal of fixed assets
87
-
TRUSTEES' REMUNERATION AND BENEFITS
2020
2019
£
£
Trustees' salaries
-
4,640
Trustees' social security
-
182
Trustees' pension contribution
-
232
-
5,054		 2020
2019
Raising
donations
and
Total
legacies
activities
£
£
Auditors' remuneration
7,500
7,800
Auditors' remuneration for non audit
work
-
283
Legal and professional fees
1,161
-
8,661
8,083
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2020
2019
£
£
Auditors' remuneration
7,500
7,800
Other non-audit services
-
283
Depreciation - owned assets
74,275
73,490
Deficit on disposal of fixed assets
87
-
TRUSTEES' REMUNERATION AND BENEFITS
2020
2019
£
£
Trustees' salaries
-
4,640
Trustees' social security
-
182
Trustees' pension contribution
-
232
-
5,054
2019
£
4,640
182
232
5,054

9. NET INCOME/(EXPENDITURE)

10. TRUSTEES' REMUNERATION AND BENEFITS

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.

continued...

-17-

OASIS CHURCH COLLIERS WOOD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

11. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 2020
£
272,712
14,210
37,148
324,070		 2019
£
281,156
17,026
6,677
304,859

The average monthly number of employees during the year was as follows:

2020 2019
Employees 18 16

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

2020 2019
£60,001 - £70,000 1 1

Under the governing document of the charity, the Trustee, Mr S Bradburn was remunerated during the year in the amount of £nil (2019: £4,640) gross wages and £nil (2019: £232) pension contributions. Mr S Bradburn's role in the charity was the Church Administrator until his resignation as a Trustee in September 2019.

In autumn 2021, the directors became aware of a potential liability for staff pension and salary for the church's pastor. In error, he had been underpaid the previously agreed remuneration package, from January 2003 until some time in 2007. The elders and directors have reviewed the estimated combined amounts of staff pension (compounded) and salary as £68,379. The pension owing will be paid as a lump sum in 2021. However, discussions are ongoing with the pastor about salary, as he has evidenced a reluctance to accept any back payments that may be owing. This will be the subject of future negotiations and will be reported in 2021 accounts and report.

12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
648,614
Other trading activities
151
Investment income
298
Total
649,063
EXPENDITURE ON
Raising funds
502,470
Charitable activities
Missions, outreach and evangelism
29,897
Social care
71,544		 Restricted
funds
£
182,380
-
-
182,380
69,841
1,038
-		 Total
funds
£
830,994
151
298
831,443
572,311
30,935
71,544

continued...

-18-

OASIS CHURCH COLLIERS WOOD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

12.
COMPARATIVES FOR THE STATEMENT
Total
NET INCOME
Transfers between funds
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
13.
TANGIBLE FIXED ASSETS
Freehold
property
£
COST
At 1 January 2020
3,471,370
Additions
72,172
Disposals
-
At 31 December 2020
3,543,542
DEPRECIATION
At 1 January 2020
301,113
Charge for year
70,871
Eliminated on disposal
-
At 31 December 2020
371,984
NET BOOK VALUE
At 31 December 2020
3,171,558
At 31 December 2019
3,170,257		 OF FINANCIAL ACTIVITIES -
Unrestricted
fund
£
603,911
45,152
(99,000)
(53,848)
1,240,593
1,186,745
Fixtures
Plant and
and
machinery
fittings
£
£
3,415
10,961
-
-
(1,298)
-
2,117
10,961
2,706
4,584
110
1,594
(1,029)
-
1,787
6,178
330
4,783
709
6,377		 continued
Restricted
funds
£
70,879
111,501
99,000
210,501
1,787,346
1,997,847
Computer
equipment
£
6,801
-
-
6,801
1,700
1,700
-
3,400
3,401
5,101		 Total
funds
£
674,790
156,653
-
156,653
3,027,939
3,184,592
Totals
£
3,492,547
72,172
(1,298)
3,563,421
310,103
74,275
(1,029)
383,349
3,180,072
3,182,444

The freehold property is held in trust for Oasis Church Colliers Wood by the London Baptist Property Board Limited, and acts as security for the loans from the London Baptist Property Board Limited.

continued...

-19-

OASIS CHURCH COLLIERS WOOD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

14.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Gift aid due
15.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other loans (see note 17)
Other creditors
Accrued expenses
16.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Other loans (see note 17)
17.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Other loans
Amounts falling between one and two years:
Other loans - 1-2 years
Amounts falling due between two and five years:
Other loans - 2-5 years
Amounts falling due in more than five years:
Repayable by instalments:
Other loans

continued...

-20-

OASIS CHURCH COLLIERS WOOD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

18. MOVEMENT IN FUNDS

Net
movement
At 1.1.20
in funds
£
£
Unrestricted funds
General fund
1,186,745
121,712
Restricted funds
Building Fund
1,149,851
16,340
Building Development Fund
571,043
(12,729)
Initiatives
4,099
(3,428)
Conferences/Towards Revival Fund
8,044
-
Healing Rooms
2,858
209
Other Specified Gifts
5
-
Church Extension (Land and Building)
261,947
(5,887)
1,997,847
(5,495)
TOTAL FUNDS
3,184,592
116,217
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
658,426
Restricted funds
Building Fund
55,766
Building Development Fund
-
Initiatives
281
Healing Rooms
450
Church Extension (Land and Building)
(1)
56,496
TOTAL FUNDS
714,922		 Transfers
between
funds
£
(60,000)
60,000
-
-
-
-
-
-
60,000
-
Resources
expended
£
(536,714)
(39,426)
(12,729)
(3,709)
(241)
(5,886)
(61,991)
(598,705)		 At
31.12.20
£
1,248,457
1,226,191
558,314
671
8,044
3,067
5
256,060
2,052,352
3,300,809
Movement
in funds
£
121,712
16,340
(12,729)
(3,428)
209
(5,887)
(5,495)
116,217

continued...

-21-

OASIS CHURCH COLLIERS WOOD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

18. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Restricted funds
Building Fund
Building Development Fund
Initiatives
Conferences/Towards Revival Fund
Healing Rooms
Other Specified Gifts
Church Extension (Land and Building)
TOTAL FUNDS		 At 1.1.19
£
1,240,593
921,592
583,772
3,244
8,044
2,856
5
267,833
1,787,346
3,027,939		 Net
movement
in funds
£
45,152
129,259
(12,729)
855
-
2
-
(5,886)
111,501
156,653		 Transfers
between
funds
£
(99,000)
99,000
-
-
-
-
-
-
99,000
-		 At
31.12.19
£
1,186,745
1,149,851
571,043
4,099
8,044
2,858
5
261,947
1,997,847
3,184,592

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 649,063 (603,911) 45,152
Restricted funds
Building Fund 180,138 (50,879) 129,259
Building Development Fund - (12,729) (12,729)
Initiatives 1,902 (1,047) 855
Healing Rooms 340 (338) 2
Church Extension (Land and Building) - (5,886) (5,886)
182,380 (70,879) 111,501
TOTAL FUNDS 831,443 (674,790) 156,653

continued...

-22-

OASIS CHURCH COLLIERS WOOD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

18. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Restricted funds
Building Fund
Building Development Fund
Initiatives
Conferences/Towards Revival Fund
Healing Rooms
Other Specified Gifts
Church Extension (Land and Building)
TOTAL FUNDS		 At 1.1.19
£
1,240,593
921,592
583,772
3,244
8,044
2,856
5
267,833
1,787,346
3,027,939		 Net
movement
in funds
£
166,864
145,599
(25,458)
(2,573)
-
211
-
(11,773)
106,006
272,870		 Transfers
between
funds
£
(159,000)
159,000
-
-
-
-
-
-
159,000
-		 At
31.12.20
£
1,248,457
1,226,191
558,314
671
8,044
3,067
5
256,060
2,052,352
3,300,809

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 1,307,489 (1,140,625) 166,864
Restricted funds
Building Fund 235,904 (90,305) 145,599
Building Development Fund - (25,458) (25,458)
Initiatives 2,183 (4,756) (2,573)
Healing Rooms 790 (579) 211
Church Extension (Land and Building) (1) (11,772) (11,773)
238,876 (132,870) 106,006
TOTAL FUNDS 1,546,365 (1,273,495) 272,870

Included in Restricted Funds are: Building Funds, which are for the Church building and the Initiative Fund for Church Initiated projects. Other specified gifts are short-term funds comprising individuals' gifts for specific purposes.

continued...

-23-

OASIS CHURCH COLLIERS WOOD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

19. RELATED PARTY DISCLOSURES

During the year, a salary of £17,007 (2019: £19,722) and pension contributions of £859 (2019: £986) were paid on behalf of K Clements, the wife of Trustee Mr T Clements.

-24-

OASIS CHURCH COLLIERS WOOD

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Gift aid
Other trading activities
Conferences, bookstall & sundry
Investment income
Bank interest received
Other income
Gain on sale of tangible fixed assets
Total incoming resources
EXPENDITURE
Raising donations and legacies
Trustees' salaries
Trustees' social security
Trustees' pension contribution
Wages
Social security
Pensions
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Church running costs
Youth and childrens' work
Publicity and advertising
Office expenditure
Property maintenance
Music and worship
Social and recreational
Ministerial and pulpit fees
Training and volunteers
Motor and travel costs
Tithe to Jubilee
Freehold property depreciation
Plant and machinery depreciation
Carried forward		 2020
£
615,638
94,252
709,890
5,040
79
(87)
714,922
-
-
-
272,712
14,210
37,148
1,239
6,931
14,350
1,373
4,090
457
1,237
10
6,916
34,695
7,825
6,926
8,652
2,323
-
46,315
70,870
110
538,389		 2019
£
723,084
107,910
830,994
151
298
-
831,443
4,640
182
232
276,516
16,844
6,445
1,358
6,628
8,769
1,863
7,932
2,698
7,071
300
14,251
26,488
10,709
33,595
14,825
5,706
280
27,684
69,427
236
544,679

This page does not form part of the statutory financial statements

-25-

OASIS CHURCH COLLIERS WOOD

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

Raising donations and legacies
Brought forward
Fixtures and fittings depreciation
Computer equipment
Bank loan interest
Bank charges
Other trading activities
Purchases
Charitable activities
Grants to individuals
Support costs
Governance costs
Auditors' remuneration
Auditors' remuneration for non audit work
Legal and professional fees
Total resources expended
Net income		 2020
£
538,389
1,594
1,700
6,239
1,780
549,702
-
40,342
7,500
-
1,161
8,661
598,705
116,217		 2019
£
544,679
2,126
1,700
12,841
2,813
564,159
69
102,479
7,800
283
-
8,083
674,790
156,653

This page does not form part of the statutory financial statements

-26-