Company number 8286100 Charity number 1150372
Oaks Trust
Report and Financial Statements
Year ended 31 August 2024
OAKS TRUST
Financial Statements - 31 August 2024
| CONTENTS | |
|---|---|
| Page | |
| Reference and administrative details | 1 |
| Trustees' Report | 2-5 |
| Independent Examiner’s Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Cash Flow Statement | 9 |
| Notes to the Financial Statements | 10-13 |
OAKS TRUST
REFERENCE AND ADMINISTRATIVE DETAILS
Oaks Trust is a registered charity (1150372) and a company limited by guarantee (8286100).
Its registered office is: 21/23 Clarendon Villas Hove East Sussex BN3 3RE
The Trustees throughout the Year, (unless otherwise shown), and at the date the report is signed were:
K Ball (resigned on 31[st] December 2023) A Bateman (appointed on 11[th] June 2024) W Bigwood N de Freese (appointed on 20[th] February 2024) J Foreman (resigned on 7[th] November 2023) P Jarvis (resigned on 14[th] May 2024) A Knight M Sibanda J Waller (appointed on 14[th] May 2024) D Wilson (appointed on 19[th] March 2024)
Company Secretary A Waller Bankers: National Westminster Bank plc 103 Church Road Hove East Sussex BN3 2BF Independent Examiner: Dr Shona Wardrop C.A. 44 Grand Parade Brighton BN2 9QA
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OAKS TRUST
TRUSTEES’ ANNUAL REPORT
The trustees present their 12[th] report and the unaudited financial statements for the year ended 31 August 2024.
The financial statements have been prepared in accordance with the accounting policies set out on pages 9 and 10 and comply with current statutory requirements the Financial Reporting Standard applicable in the U.K. and Republic of Ireland (FRS102) (effective from 1 January 2019), the Memorandum and Articles of Association, and the Statement of Recommended Practice: Accounting and Reporting by Charities 2019.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The company was incorporated on 8 November 2012 and was registered as a charity on 7 January 2013. It is governed by its Memorandum and Articles of Association. The activities started in 2014. The company is limited by guarantee and has no share capital. The liability of the members is £1 each in the event of the company being wound up.
The trustees of the company are appointed upon becoming a trustee of Clarendon Trust Limited, which is the sole member of Oaks Trust. The induction process for trustees involves supplying them with copies of the Memorandum & Articles of Association, recent Accounts and Minutes of trustees’ Meetings. Trustees meet regularly through the Year and all the major decisions of the charity are made by them in consultation with the charity’s managers.
Oaks Trust is connected with Clarendon Trust Ltd (of 21-23 Clarendon Villas, Hove, East Sussex BN3 3RE) in that the charities have common trustees and Clarendon Trust Ltd is the sole member of Oaks Trust.
The trustees have recognised the importance of assessing and managing risk associated with the charity’s objectives. The process of identifying risk is ongoing and has been an essential part of the management of the charity. The trustees have implemented systems to ensure ongoing identification, management and documentation of foreseeable risks.
OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT
The trustees have had regard to the Charity Commission guidance on public benefit and paid due regard to it in deciding what activities the charity should undertake. The trustees are satisfied that the ongoing activities in which they are involved, that the charity is continuing to meet the public benefit requirement. Oaks Trust seeks to help those who are poor and disadvantaged for a variety of reasons.
Oaks Trust has three food banks across the conurbation of Brighton & Hove and Shoreham with the plan of opening a fourth foodbank in January in Hangleton. Each of these food banks serve their respective community areas with emergency food parcels, designed to meet a crisis need as well as signposting towards other relevant services. The food parcels are made collaboratively between our clients and volunteers. With volunteers going through the list with a client finding out what they need and bags are made up respectively depending on whether clients come weekly or fortnightly. Vouchers must be presented by a client in exchange for food at the food bank centres. These vouchers are issued by a range of agencies, including CAB, doctors, churches and social services and are processed mainly now through the Trussell referral system compared to previously being done through our own referral system.
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OAKS TRUST
Trustees’ Report – continued
ACHIEVEMENTS AND PERFORMANCE FOR THE PUBLIC BENEFIT
Over the last year the Trussell Trust network of food banks have distributed 3.1 million food parcels - a 94% rise in the last five years.
Oaks Trust has responded to the need by operating our four food banks in Brighton, Hove, Hangleton and Shoreham. In 2024 we gave out 3,260 food parcels, many of which were for families with children.
Thanks to a grant we received from Trussell near the start of the year, we have been able to fund a Money Advice Plus advisor in each of our three Brighton & Hove food banks every week. They offer expert advice on benefits, debt and other financial issues, and have been able to help our guests access over £200,000 in previously unclaimed benefits and debt relief. We have also had a CAP advisor working in our Shoreham Foodbank, who has helped people in debt and other financial difficulties.
In addition, we have had visits by social prescribers, energy poverty relief agencies, careers advisors and other charity support workers. They are very helpful providing support for people dealing with specific issues such as poor mental health and addiction recovery etc. We are very conscious that food poverty is nearly always a symptom of deeper underlying problems for individuals, and we provide a ‘front door’ for people to come and receive other forms of help as well as food. Many guests are lonely and come in for the social interaction as well as the food.
We recently conducted a ‘guest satisfaction’ survey, the results of which were incredibly positive. The vast majority of respondents indicated that they were happy with the food bank environment, the serving team and the food they are given. There were a number of specific comments about things we could do even better and we have listened carefully.
Over the last year the food banks have been assisted through donations of food and finance from various sources, including church congregations, local businesses and the local authorities. In 2024, over 39 tonnes of food was counted in and passed on to clients who have massively appreciated receiving this provision as the cost of food continues to rise. Over half of that total was food directly donated to us, and the rest we purchased using funds donated by our generous church congregations and some smaller civic grants.
All our food banks are staffed by a paid ‘Food Bank Lead’ (a day a week each) who keep things running smoothly and organises our equally excellent volunteer teams without whom we could not operate. Most of the volunteers are members of Emmanuel church congregations and we typically have about twelve volunteers at each venue each week. We recently applied for and received a Trussell grant of £12,000 which will go toward the salaries of the food bank leads in the coming year, and means that less of the donated funds need to be directed toward staffing costs.
There is also a Partnership Manager (funded by a different Trussell grant) who works three days a week and helps liaise with external agencies as well as helping with the general running of the food banks. He also acts as something of a bridge between the food bank staff and the wider Emmanuel Care team.
The Clarendon Foodbank is our busiest, serving an average of 28 households per week, with referrals attending the foodbank weekly or fortnightly. A large proportion are single people living alone although we do also have a number of single Mums who use the Playgroup that runs in the building at the same time.
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OAKS TRUST
Trustees’ Report – continued
Earlier in the year we were able to fund the conversion of an area of the main downstairs lounge at the Clarendon Centre into a food store which has allowed us to move the Foodbank from a cramped upstairs room at the back of the building to the much more spacious and pleasant lounge area at the front of the building. As in all our food banks, guests can come and enjoy a relaxed cafe-style environment with free refreshments and a friendly volunteer team on hand to listen and serve.
The Villas Foodbank is located in the Villas cafe which has provided a great opportunity for clients to come and stay, as quite a few of the clients are struggling not just with food insecurity but loneliness and isolation. This cafe style set up allows us to provide space for more organisations to come in and chat with clients helping to break the cycle of food insecurity. Villas typically give out about 18 food parcels each week.
A similar model is in place at our Oasis Foodbank which started up in March 2023 and serves the Hangleton area. They currently serve about 11 households each week and this number is gradually rising. The Oasis building is being used for more community activities through the week, and is increasingly seen as a hub for the local community. There are good links developing with other agencies and support groups in the area.
The Shoreham Foodbank is the longest established and is well supported by the community in Shoreham, with donations from private donors, schools and supermarket collection points. They currently serve around 13 households each week.
We also operate two Baby Basics (Brighton & Shoreham) projects which make links with midwives in the region to support new mothers who are identified as struggling with financial stability, with the gift of a Moses Basket full of consumables for mum and baby. Both projects are run by volunteers.
FINANCIAL REVIEW
The Statement of Financial Activities on page 6 shows total incoming resources for the year of £179,104. Sources of funding are donations from individuals and churches as well as grant-making trusts and companies. The charitable company has funded various activities, which are in line with its stated objectives. The level of activity for the year was satisfactory and there was a surplus for the year of £30,674.
All funds are restricted and totalled £80,376 at 31 August 2024.
RESERVES POLICY
The trustees have formulated a reserves policy in line with Charity Commission guidance. It is the trustees’ intention to maintain free reserves sufficient to enable the trust to meet its recurring expenditure for the foreseeable future. At Year end restricted reserves were £80,376.
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OAKS TRUST
Trustees’ Report – continued
PLANS FOR FUTURE YEARS
Oaks Trust continues to strengthen and build its relationship with the Trussell Trust, giving the charity access to unique funding opportunities for jobs, food, equipment as well as more training for our volunteers if they would like it. Trussell uses the data of their 3,000+ food banks across the country to inform policymakers in parliament to help make changes.
Oaks will continue to partner with a number of other UK wide charities and services (i.e. CAP, CAB, Home for Good, Jubilee+) with our mutual objectives of seeing people freed from poverty and underprivilege.
Chariot House Limited have been appointed as independent examiners via a resolution at the Annual General Meeting.
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies’ exemption.
Approved by the trustees on 25[th] March 2025 and signed on their behalf by
William Bigwood Chair of Trustees
21/23 Clarendon Villas Hove East Sussex BN3 3RE
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INDEPENDENT EXAMINER’ REPORT TO THE SOLE MEMBER OF OAKS TRUST
I report to the charity trustees on my examination of the accounts of Oaks Trust for the year ended 31 August 2024.
Responsibilities and basis of report
As the charity trustees of Oaks Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of Oaks Trust’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Dr Shona Wardrop C.A. 44 Grand Parade Brighton East Sussex BN2 9QA
Date: 25[th] March 2025
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OAKS TRUST
Statement of Financial Activities for the year ended 31 August 2024
| Notes INCOME AND EXPENDITURE ACCOUNT Incoming resources from generated funds Voluntary income 2, 5 Total incoming resources Resources expended Charitable Activities Foodbanks 3, 5 Baby Basics 3, 5 Total resources expended Net movement in funds Fund balances brought forward at 01 September 2023 Fund balances carried forward at 31 August 2024 |
Restricte d funds 2024 £ 179,104 179,104 148,430 - 148,430 30,674 49,702 80,376 |
Restricte d funds 2023 £ 136,087 |
|---|---|---|
| 136,087 | ||
| 120,661 - |
||
| 120,661 | ||
| 15,425 34,227 |
||
| 49,702 | ||
All funds are restricted.
The Statement of Financial Activities reflects the results of continuing activities for the Year. There were no recognised gains or losses for the Year other than those shown on the Statement of Financial Activities.
The notes on pages 9 to 13 form part of these financial statements.
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OAKS TRUST
Company number: 08286100
Balance Sheet at 31 August 2024
| Notes CURRENT ASSETS Cash at bank and in hand Debtors CREDITORS - AMOUNTS FALLING DUE WITHIN ONE YEAR NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES FUNDS Restricted funds 5 TOTAL FUNDS |
2024 £ 82,798 1,287 84,085 ( 3,709) 80,376 80,376 80,376 80,376 |
2023 £ 55,476 |
|---|---|---|
| 55,476 | ||
| ( 5,774) | ||
| 49,702 | ||
| 78,138 49,702 |
||
| 49,702 |
The company is entitled to exemption from audit under section 477 of the Companies Act 2006 for the year ended 31 August 2024.
The members have not required the company to obtain an audit of its financial statements for the Year in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for:
-
(a) ensuring the 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 company as at the end of each financial Year and of its surplus and deficit for each financial Year in accordance with the requirements of section 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to the financial statements, so far as applicable to the company.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
Approved by the trustees, signed on their behalf by and authorised for issue on 25[th] March 2025.
William Bigwood Chair of Trustees
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The notes on pages 9 to 13 form part of these financial statements.
OAKS TRUST
Cash Flow Statement for the year ended 31 August 2024
| 2024 Reconciliation of net movement in funds to net cash flows from operating activities £ Net movement in funds 30,674 Depreciation - Decrease/(increase) in debtors (1,287) Increase/(decrease) in creditors (2,065) Net cash outflow from operating activities Capital expenditure Purchase of tangible fixed assets - Net cash outflow from capital expenditure Increase/(decrease) in cash in the year Reconciliation of net cash flow to movement in net cash funds Net funds at beginning of the year Change in net funds during the year Net funds at end of the year |
2023 £ £ 15,425 - - (2,557) 27,322 - - 27,322 55,476 27,322 82,798 |
£ |
|---|---|---|
| 12,869 | ||
| - | ||
| 12,869 | ||
| 42,608 12,869 |
||
| 55,476 |
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OAKS TRUST
Notes to the Financial Statements for the year ended 31 August 2024
1 ACCOUNTING POLICIES
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with 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.
The financial statements are prepared in sterling, which is the functional currency of the entity and are rounded to the nearest pound.
The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern. The trustees do not consider that Covid 19 will have a significant impact on the charity for the following reasons:
In light of the above and following a review of our financial position, reserves and future plans, the trustees have confidence the charity will remain a going concern for the foreseeable future.
(a) Incoming resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
(b) Resources expended
Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. Expenditure is recognised on an accruals basis. Overhead and support costs have been allocated on the basis of actual time spent.
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office and governance costs. They are incurred directly in support of expenditure on the objects of the charity.
Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to statutory audit and legal fees.
(c) Voluntary assistance
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A certain amount of time is expended by volunteers on the charitable company's activities which is donated free of charge. It is not possible to quantify the value of the time given, and accordingly it is neither recorded as donated income nor as an expense in the financial statements.
OAKS TRUST
Notes to the Financial Statements for the year ended 31 August 2024
(d) Taxation
The company is a charity within the meaning of Para 1 Schedule 6 Finance Act 2010. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains within categories covered by Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. No tax arose in the year.
(e) Pensions
The charitable company contributes to defined contribution pension schemes. The charge to the Statement of Financial Activities for 2024 was £2,907 (2023 – £1,582).
(f) Fund accounting
An explanation of the nature and purpose of each fund is included in the notes to the financial statements. Funds held by the charity are restricted funds - these are funds that 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.
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OAKS TRUST
Notes to the Financial Statements for the year Ended 31 August 2024
2 VOLUNTARY INCOME
| Donations from churches Corporate and local authority donations Other donations and tax recovered During the Year the following grants of £2,000 Trussell Trust (for Money Advice Plus) Trussell Trust (for strategic role) West Sussex County Council Brighton & Hove City Council Chalk Cliff Trust |
2024 2023 £ £ 52,833 45,998 92,310 53,610 33,961 36,479 179,10 4 136,08 7 or more were received: £51,75 0 £18,00 0 £16,47 3 £6,000 £3,500 |
2023 £ 45,998 53,610 36,479 |
|---|---|---|
| 136,08 7 |
3 RESOURCES EXPENDED ON CHARITABLE ACTIVITIES
| Direct Costs Direct staff costs Other direct costs Support costs Support staff costs Other support costs |
2024 £ 44,014 95,857 139,871 6,646 1,913 148,430 |
2023 £ 23,618 89,383 113,00 1 4,789 2,892 120,66 1 |
|---|---|---|
Other support costs include independent examiner fees of £1,600 .
4 TRUSTEES AND STAFF COSTS
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No trustees received or waived salary or expenses from the company during the year.
Staff costs
| Gross salaries Social security costs Pension costs |
2024 £ 46,044 1,710 2,907 50,660 |
2023 £ 26,131 674 1,582 |
|---|---|---|
| 28,387 |
OAKS TRUST
Notes to the Financial Statements for the year ended 31 August 2024
There was no key management personnel remuneration during the year (2023: nil).
The average number of persons employed by the charitable company during the year was as follows:
| as as follows: | ||
|---|---|---|
| 2024 | 2023 | |
| Number | Number | |
| Average number of employees | 3 | 1.5 |
No employees had emoluments in excess of £60,000: nil (2023: nil).
4 RESTRICTED FUNDS
| Balance at | Movement in resources | Movement in resources | Balance at | ||
|---|---|---|---|---|---|
| 1 September | 31 August | ||||
| 2023 | Incoming | Outgoing | Transfers | 2024 | |
| £ | £ | £ | £ | £ | |
| Restricted funds | |||||
| Shoreham Foodbank | 26,980 | 42,141 | 23,693 | (18,000) | 27,337 |
| Centre Foodbank | 1,904 | 24,204 | 33,754 | 9,500 | 1,854 |
| Villas Foodbank | 1,138 | 21,220 | 26,802 | 5,000 | 556 |
| Oasis Foodbank | 1,530 | 18,789 | 21,981 | 3,500 | 1,838 |
| Shoreham Baby Basics | 1,152 |
- | - | - | 1,152 |
| Brighton Baby Basics | 2,000 | 2,000 | - | - | 4,000 |
| Trussell Trust | 15,088 | 70,750 | 42,199 | - | 43,638 |
| ────── | ────── | ────── | ───── | ───── | |
| 49,702 |
179,104 |
148,430 |
- | 80,376 |
Balance at Movement in resources Balance at 1 September 31 August 2022 Incoming Outgoing Transfers 2023 £ £ £ £ £
Restricted funds
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| Shoreham Foodbank Centre Foodbank Villas Foodbank Oasis Foodbank Shoreham Baby Basics Brighton Baby Basics Trussell Trust |
31,031 562 1,532 - 1,152 - - ───── 34,277 |
45,175 28,460 21,954 20,498 - 2,000 18,000 ────── 136,087 |
39,316 (10,000) 28,618 1,500 23,847 1,500 25,968 7,000 - - - - 2,912 - ────── ───── 120,661 - |
26,980 1,904 1,138 1,530 1,152 2,000 15,088 ───── 49,702 |
|---|---|---|---|---|
Foodbanks are the restricted funds representing the emergency food distribution service. OAKS TRUST
Notes to the Financial Statements for the year ended 31 August 2024
6 CONNECTED CHARITY
The charitable company is connected with Clarendon Trust Limited (of 21-23 Clarendon Villas, Hove, East Sussex, BN3 3RE) in that the charities have common trustees and Clarendon Trust Ltd is the sole corporate member of Oaks Trust.
7 CHARITABLE COMPANY STATUS
The charitable company does not have a share capital and the liabilities of its sole member are limited to the guarantee of up to a maximum of £1.
8 RELATED PARTY TRANSACTIONS
There were no related party transactions.
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