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← Oasis Church Colliers Wood

2023-12-31-accounts

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

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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 2023

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 23
Detailed Statement of Financial Activities 24 to 25

OASIS CHURCH COLLIERS WOOD

STRATEGIC REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees present their strategic report for the year ended 31 December 2023.

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 2023.

Directors Responsibilities and Functions:

The Directors listed on Page 1 are the signatories to this Report. 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 auditors are 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 it is affiliated to the London Baptist Association and Evangelical Alliance.

Activities:

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

During 2023 services on Sundays and Wednesdays continued to be streamed live and cell groups continue to meet in person, on Zoom or a mixture of the two. Cell groups, Healing Rooms, Bible study, Pastors and Leaders meetings, youth work, children's work, the Oasis Leadership School (OLS), staff meetings and over 60s tea parties are all examples of activities that have been happening regularly during 2023.

A community café was started in March 2023 and continues to welcome anyone from the local community every Thursday. One off events included an open Picnic in the Park, the Coronation community Barbeque, a 'Joy to the World' Christmas community event and a 24-hour worship service, which was held in December 2023. Baptismal services took place on three occasions during the year. Four church 'Family Nights' were held during the year and 30 new members were welcomed in 2023. These meetings are for all members to attend and be involved through voting in the work and activities of the church. The new building has been fully utilised with a prayer room open on weekdays. Business meetings have continued on Zoom for convenience.

The church hosted an international annual conference on behalf of Harvest Alliance (a network of like-minded churches) 2-4 October which was attended by numerous visitors and speakers from the UK and overseas.

-1-

OASIS CHURCH COLLIERS WOOD

STRATEGIC REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

Apart from at the main centre in Colliers Wood, three church plants have continued at Epsom (at the Longmead Centre, Sefton Road), in Walton-on-Thames (at Walton Youth Centre, Elm Grove, Walton on Thames) and in Redhill, (at Salfords Primary School, Copsleigh Avenue). The Asian Fellowship has continued to meet at the main centre in Colliers Wood. A document summarising the governance arrangements and an SOP for the main church and plants was developed in early 2024.

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

The Church had 467 core members and over 500 others associating with the Church as at 31st December 2023.

Leadership: The leadership structure of the Church is that there is a full-time pastor (Sam Onyenuforo), three part-time pastors who serve at our plants in Epsom, Walton and the Asian Fellowship at Colliers Wood, 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 been maintained during the year with a slight increase over budget projections. The church received a transfer of funds from its associated manse property trust in the sum of £70,000 as part of responsible management of that trust, reflecting amassed rental income.

Cashflow remains stable and improves month on month.

The Company has various designated and restricted funds, listed in the accounts, including a "Jubilee Fund" that receives and distributes 10% of the Church income and other specific gifts. This Jubilee 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 continue to be given.

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

Risk Register

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

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 - so far as each of the Directors is aware, there is no relevant audit information (as defined in the Companies Act 2006) of which the company's independent examiner are unaware; and - each of the Directors have taken all the steps that he/she ought to have taken as a director to make himself/herself aware of any relevant information and to establish that the independent examiner is aware of that information.

-2-

OASIS CHURCH COLLIERS WOOD

STRATEGIC REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

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 10 September 2024 and signed on its behalf by:

I Berle - Trustee

-3-

OASIS CHURCH COLLIERS WOOD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

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 2023. 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 J Takyi Counsellor and Psychotherapist Miss A C Johnson

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 2023

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 10 September 2024 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 2023 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).

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.

-6-

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

Opinions on other matters prescribed by the Companies Act 2006

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

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.

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.

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

10 September 2024

-9-

OASIS CHURCH COLLIERS WOOD

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

2023
Unrestricted
Restricted
Total
fund
funds
funds
Notes
£
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
875,621
121,339
996,960
Other trading activities
3
7,350
-
7,350
Investment income
4
4,858
-
4,858
Total
887,829
121,339
1,009,168
EXPENDITURE ON
Raising funds
5
703,404
62,384
765,788
Charitable activities
6
Missions, outreach and evangelism
63,768
-
63,768
Social care
59,998
31,482
91,480
Total
827,170
93,866
921,036
NET INCOME
60,659
27,473
88,132
Transfers between funds
18
(68,000)
68,000
-
Net movement in funds
(7,341)
95,473
88,132
RECONCILIATION OF FUNDS
Total funds brought forward
1,381,507
2,202,812
3,584,319
TOTAL FUNDS CARRIED FORWARD
1,374,166
2,298,285
3,672,451		 2022
Total
funds
£
775,892
7,100
588
783,580
641,023
15,229
65,919
722,171
61,409
-
61,409
3,522,910
3,584,319

The notes form part of these financial statements

-10-

OASIS CHURCH COLLIERS WOOD

BALANCE SHEET 31 DECEMBER 2023

Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
13
830,798
CURRENT ASSETS
Debtors
14
113,429
Cash at bank and in hand
442,111
555,540
CREDITORS
Amounts falling due within one year
15
(12,172)
NET CURRENT ASSETS
543,368
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,374,166
CREDITORS
Amounts falling due after more than one year
16
-
NET ASSETS
1,374,166
FUNDS
18
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
2,324,661
-
101,209
101,209
(25,003)
76,206
2,400,867
(102,582)
2,298,285		 2023
Total
funds
£
3,155,459
113,429
543,320
656,749
(37,175)
619,574
3,775,033
(102,582)
3,672,451
1,374,166
2,298,285
3,672,451		 2022
Total
funds
£
3,200,089
76,258
479,846
556,104
(44,056)
512,048
3,712,137
(127,818)
3,584,319
1,381,507
2,202,812
3,584,319

The financial statements were approved by the Board of Trustees and authorised for issue on 10 September 2024 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 2023

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
Net cash used in investing activities
Cash flows from financing activities
Loan repayments in year
Net cash used in 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		 2023
£
135,977
(7,306)
(2,253)
126,418
(31,048)
(31,048)
(31,896)
(31,896)
63,474
479,846
543,320		 2022
£
166,178
(5,899)
(1,951)
158,328
(99,609)
(99,609)
(38,451)
(38,451)
20,268
459,578
479,846

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 2023

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
2023 2022
£ £
Net income for the reporting period (as per the Statement of
Financial Activities) 88,132 61,409
Adjustments for:
Depreciation charges 75,675 76,975
Interest paid 7,306 5,899
Finance costs 2,253 1,951
(Increase)/decrease in debtors (37,171) 19,567
(Decrease)/increase in creditors (218) 377
Net cash provided by operations 135,977 166,178
2. ANALYSIS OF CHANGES IN NET FUNDS
At 1.1.23 Cash flow At 31.12.23
£ £ £
Net cash
Cash at bank and in hand 479,846 63,474 543,320
479,846 63,474 543,320
Debt
Debts falling due within 1 year (31,668) 6,663 (25,005)
Debts falling due after 1 year (127,818) 25,236 (102,582)
(159,486) 31,899 (127,587)
Total 320,360 95,373 415,733

The notes form part of these financial statements

-13-

OASIS CHURCH COLLIERS WOOD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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 2023

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
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
Tithe to Jubilee
Depreciation
Interest payable and similar charges
Support costs		 2023
£
847,981
148,979
996,960
2023
£
7,350
2023
£
4,858
2023
£
399,382
5,260
5,710
27,101
2,633
5,816
2,418
7,064
2,042
13,473
83,334
9,675
29,496
27,898
2,341
46,795
75,675
9,559
10,116
765,788		 2022
£
661,402
114,490		 2022
£
661,402
114,490
775,892
2022
£
7,100
2022
£
588
2022
£
314,672
1,022
7,874
17,833
2,354
4,815
3,023
11,210
148
18,501
58,168
11,266
32,804
21,039
1,366
40,000
76,975
7,850
10,103		 2022
£
7,100
2022
£
588
641,023

continued...

-15-

OASIS CHURCH COLLIERS WOOD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

6. CHARITABLE ACTIVITIES COSTS

6. CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities
(see note
7)
£
Missions, outreach and evangelism 63,768
Social care 91,480
155,248
7. GRANTS PAYABLE
2023 2022
£ £
Missions, outreach and evangelism 63,768 15,229
Social care 91,480 65,919
155,248 81,148
8. SUPPORT COSTS
Governance
costs
£
Raising donations and legacies 10,116
Support costs, included in the above, are as follows:
2023 2022
Raising
donations
and Total
legacies activities
£ £
Auditors' remuneration 8,441 8,220
Legal and professional fees 1,675 1,883
10,116 10,103

continued...

-16-

OASIS CHURCH COLLIERS WOOD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

9. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2023 2022
£ £
Auditors' remuneration 8,441 8,220
Depreciation - owned assets 75,678 76,977

10. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.

11. STAFF COSTS

STAFF COSTS
Wages and salaries
Social security costs
Other pension costs		 2023
£
363,650
20,892
14,840
399,382		 2022
£
282,495
18,658
13,519
314,672

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

2023 2022
Employees 20 17

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

2023 2022
£60,001 - £70,000 1 1

continued...

-17-

OASIS CHURCH COLLIERS WOOD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

12.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
775,749
Other trading activities
7,100
Investment income
588
Total
783,437
EXPENDITURE ON
Raising funds
580,484
Charitable activities
Missions, outreach and evangelism
13,199
Social care
65,919
Total
659,602
NET INCOME/(EXPENDITURE)
123,835
Transfers between funds
(145,949)
Net movement in funds
(22,114)
RECONCILIATION OF FUNDS
Total funds brought forward
1,403,621
TOTAL FUNDS CARRIED FORWARD
1,381,507		 Restricted
funds
£
143
-
-
143
60,539
2,030
-
62,569
(62,426)
145,949
83,523
2,119,289
2,202,812		 Total
funds
£
775,892
7,100
588
783,580
641,023
15,229
65,919
722,171
61,409
-
61,409
3,522,910
3,584,319

continued...

-18-

OASIS CHURCH COLLIERS WOOD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

13. TANGIBLE FIXED ASSETS

COST
At 1 January 2023
Additions
At 31 December 2023
DEPRECIATION
At 1 January 2023
Charge for year
At 31 December 2023
NET BOOK VALUE
At 31 December 2023
At 31 December 2022		 Freehold
property
£
3,715,835
29,881
3,745,716
518,623
74,667
593,290
3,152,426
3,197,212		 Plant and
machinery
£
2,117
-
2,117
1,931
46
1,977
140
186		 Fixtures
and
fittings
£
10,961
1,167
12,128
8,270
965
9,235
2,893
2,691		 Computer
equipment
£
6,801
-
6,801
6,801
-
6,801
-
-		 Totals
£
3,735,714
31,048
3,766,762
535,625
75,678
611,303
3,155,459
3,200,089

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.

14.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Gift aid due
15.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other loans (see note 17)
Social security and other taxes
Other creditors
Accrued expenses		 2023
£
113,429
2023
£
25,005
-
3,870
8,300
37,175		 2022
£
76,258
2022
£
31,668
2,988
1,300
8,100
44,056

continued...

-19-

OASIS CHURCH COLLIERS WOOD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

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
18.
MOVEMENT IN FUNDS
Net
movement
At 1.1.23
in funds
£
£
Unrestricted funds
General fund
1,381,507
60,659
Restricted funds
Building Fund
1,414,031
(43,759)
Building Development Fund
532,856
(12,729)
Initiatives
523
89,848
Conferences/Towards Revival Fund
8,046
-
Healing Rooms
3,064
(1)
Other Specified Gifts
5
-
Church Extension (Land and Building)
244,287
(5,886)
2,202,812
27,473
TOTAL FUNDS
3,584,319
88,132
2023
£
102,582
2023
£
25,005
15,000
45,000
42,582
Transfers
between
funds
£
(68,000)
68,000
-
-
-
-
-
-
68,000
-		 2022
£
127,818
2022
£
31,668
25,305
45,000
57,513
At
31.12.23
£
1,374,166
1,438,272
520,127
90,371
8,046
3,063
5
238,401		 2022
£
127,818		 2022
£
127,818
2022
£
31,668
25,305
45,000
2,298,285
3,672,451

continued...

-20-

OASIS CHURCH COLLIERS WOOD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

18. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Building Fund
Building Development Fund
Initiatives
Healing Rooms
Church Extension (Land and Building)
TOTAL FUNDS
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 1.1.22
£
1,403,621
1,311,694
545,585
719
8,046
3,066
5
250,174
2,119,289
3,522,910		 Incoming
resources
£
887,829
-
-
121,339
-
-
121,339
1,009,168
Net
movement
in funds
£
123,835
(41,912)
(12,729)
(1,896)
-
(2)
-
(5,887)
(62,426)
61,409		 Resources
expended
£
(827,170)
(43,759)
(12,729)
(31,491)
(1)
(5,886)
(93,866)
(921,036)
Transfers
between
funds
£
(145,949)
144,249
-
1,700
-
-
-
-
145,949
-		 Movement
in funds
£
60,659
(43,759)
(12,729)
89,848
(1)
(5,886)
27,473
88,132
At
31.12.22
£
1,381,507
1,414,031
532,856
523
8,046
3,064
5
244,287
2,202,812
3,584,319

continued...

-21-

OASIS CHURCH COLLIERS WOOD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

18. MOVEMENT IN FUNDS - continued

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

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 783,437 (659,602) 123,835
Restricted funds
Building Fund - (41,912) (41,912)
Building Development Fund - (12,729) (12,729)
Initiatives 143 (2,039) (1,896)
Healing Rooms - (2) (2)
Church Extension (Land and Building) - (5,887) (5,887)
143 (62,569) (62,426)
TOTAL FUNDS 783,580 (722,171) 61,409

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 1.1.22
£
1,403,621
1,311,694
545,585
719
8,046
3,066
5
250,174
2,119,289
3,522,910		 Net
movement
in funds
£
184,494
(85,671)
(25,458)
87,952
-
(3)
-
(11,773)
(34,953)
149,541		 Transfers
between
funds
£
(213,949)
212,249
-
1,700
-
-
-
-
213,949
-		 At
31.12.23
£
1,374,166
1,438,272
520,127
90,371
8,046
3,063
5
238,401
2,298,285
3,672,451

continued...

-22-

OASIS CHURCH COLLIERS WOOD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

18. MOVEMENT IN FUNDS - continued

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 1,671,266 (1,486,772) 184,494
Restricted funds
Building Fund - (85,671) (85,671)
Building Development Fund - (25,458) (25,458)
Initiatives 121,482 (33,530) 87,952
Healing Rooms - (3) (3)
Church Extension (Land and Building) - (11,773) (11,773)
121,482 (156,435) (34,953)
TOTAL FUNDS 1,792,748 (1,643,207) 149,541

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.

19. RELATED PARTY DISCLOSURES

During the year, a salary of £20,709 (2022: £19,722) and pension contributions of £1,035 (2022: £986) were paid on behalf of K Clements, the wife of Trustee Mr T Clements.

-23-

OASIS CHURCH COLLIERS WOOD

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Gift aid
Other trading activities
Conferences, bookstall & sundry
Investment income
Bank interest received
Total incoming resources
EXPENDITURE
Raising donations and legacies
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
Tithe to Jubilee
Freehold property depreciation
Plant and machinery depreciation
Fixtures and fittings depreciation
Computer equipment
Carried forward		 2023
£
847,981
148,979
996,960
7,350
4,858
1,009,168
363,650
20,892
14,840
5,260
5,710
27,101
2,633
5,816
2,418
7,064
2,042
13,473
83,334
9,675
29,496
27,898
2,341
46,795
74,665
46
964
-
746,113		 2022
£
661,402
114,490
775,892
7,100
588
783,580
282,495
18,658
13,519
1,022
7,874
17,833
2,354
4,815
3,023
11,210
148
18,501
58,168
11,266
32,804
21,039
1,366
40,000
74,316
62
897
1,700
623,070

This page does not form part of the statutory financial statements

-24-

OASIS CHURCH COLLIERS WOOD

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

Raising donations and legacies
Brought forward
Bank loan interest
Bank charges
Charitable activities
Grants to individuals
Support costs
Governance costs
Auditors' remuneration
Legal and professional fees
Total resources expended
Net income		 2023
£
746,113
7,306
2,253
755,672
155,248
8,441
1,675
10,116
921,036
88,132		 2022
£
623,070
5,899
1,951
630,920
81,148
8,220
1,883
10,103
722,171
61,409

This page does not form part of the statutory financial statements

-25-