REGISTERED CHARITY NUMBER: 1159713 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR OASIS COMMUNITY CHURCH ABERDARE MHA {trading name of Maclntyre Hudson LLP) Limrted liability partnership in England & Wales Registered number OC312313 Elfed House Oak Tree Court Cardiff Gate Business Park CARDIFF County of Cardiff CF23 8RS
OASIS COMMUNITY CHURCH ABERDARE CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Report of the Trustees 1 to 2 Indepond¢nl Examinerfs Rèport Statement of Financial Activities Balance Sheet Notes to the Flnanclal Statements 6 to 13
OASIS COMMUNITY CHURCH ABERDARE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their report with the financial slatemenls of the charity for the year ended 31 March 2024. The ttustees 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). OBJECTIVES AND ACTIVITIES Objective$ and aims The objects of Oasis Community Church Aberdare as stated in the Constitution are." (al The advancement of the Christian failh in accordance wtth the doctrines of the affinty.org.uk and lo tr¢e extent that the same do not confllct wllh this first object: {b) For the benefrt of the residents of Aberdare and the surrounding area. on the basis of equality of oppothnty and in accordance with the law relating to discriminalion, by as$o¢iating together the said residents and the local authorities, voluntary and other organisalions in a common effort, to advance education, promote good health artrd to provide facilities for recreational and other leisure time occupation, in the interests of so(ial and spiritual welfare, wilh the object of improving the conditions of life for the residents- and (¢) The relief of poverty. Signlficant adivlties Signsficant activities undertaken during the year indude various weekly services and meebngs lo facililale Chmslian expression and teaching and various community focused activtties including weekly children'styouth dubs. coffee momings. parent and tots group and Pilales sesstons as well as hosting the monthly women's Institute meetings. The pantry conlinued to provide discounted food to individuals in local area in need of Suppo Challenge Valleys provided a hub to support those recovering from addiction in the local area. During the year the charity also started second hand fvrnilure collection which wa5 sold al discount price to individuals in the tocal area. Public benefit The trustees can conffrm that they have complied Yitth the duty in Section 17 of the Charities Acl 2011 to have due regard lo public benefit guidance published by the commission. The truslees have endeavoured lo identify the needs wf(hin the community and establish and maintain ils aelivities accordingly. ACHIEVEMENT AND PERFORMANCE Charitable a¢tivitie$ The Charitys community focused initialives are all well supported by the community. Significant growih is evident in each of the organised activities. A number of people have "tumed their lives around. and making better life Choices due to the Influen ofthe Charity. FINANCIAL REVIEW Financial position The charity recorded income of£172,529 for the year and expenditure of £147,452 giving a surplus of £25,077. The charity has eXperIend increased activty durfng the year as a result of new attendeeg to the church which has had positive impact on donations received. In addition. this has resulted to a rise in the number of activities held from the church premises that has increased income generated from Ministy Outreach. With the inltial panty set up costs encountered in the previous year, the current year has seen a full year of operatton and has had a positive impact on profits. The charity was financially stable at the end of the period with £142,725 held In the bank. Reserves poll¢y ReseTves are held to allow for more strategic planning in relation to fijture development of building and facililies. At 31 March 2024 the charity had totsl funds of £734,539 of these £579.814 had been invested in fixed assets and £2.441 is held in a designated fijnd. Free reserves at the year end were £152.284. Page 1
OASIS COMMUNITY CHURCH ABERDARE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE. GOVERNANCE AND MANAGEMENT Govemln9 documènt Oasis Commsjnity Church Aterdare Is consututed as a Charitable Incorporated Organlsatlon {cio} and is governed by its Conslitutson. Recrultment and appolntment of new trustees Trustees are appointed by nomination to a meeting of the serving trusteas, who give consideration as to the suitability of the nominee. The nominee may be appoint9d as a trustee by a ro$olution pa88ed at a properly ¢onvened meeting of the serwng charity trustees. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charlty number 1159713 Prlnelpal address Hitwaun Road Trecynon Aberdare Merthyr Tydfil CF44 8ED TTU5tEes JJ Richards J Dae$ C Walton Freeman AG Richards L Durkin B Haffls L Ne Chaimian Deputy Chaiman Secretary- Resigned 19 June 2023 Resigned 10 September 2023 Appolnted 1 October 2023 Appointed 1 October 2023 Independent Examlner Julia Mortimer FCCA MHA ltrading name of Maclntyre Hudson LLP) Limited liability partnarship in England & Wales Registered number OC312313 Elfed House Oak Tree Court Cardiff Gate Busin¢5s Park CARDIFF County of Cardiff CF23 8 Appr y orde oftheb of tnjstees on .... . and signed on its b9half by. rustee Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF OASIS COMMUNITY CHURCH ABERDARE Independent examiner's report to the trustees of Oasls Communlty Chur¢h Aberdare I report to the charity trustees on my examination of the accounts of Oasis Community Church Aberdare (the Trust) for the year ended 31 March 2024. Responslbilltles and basls of report As the charity Iruslees of the Trust you are responsible for Ihe preparation of the accounts in accordance wth the requirements of the Charities Act 2011 {'Ihe AcV}. I report in respect of my examination of the Trust's accounts carried out under Section 145 of the A¢t and in carying out my examination I have followed all applicable Directions given by the Charlty Commission under Section 145{5)Ib) of the ACL Independent examinerfs statement I have completed my examination. I confirm Ihat no material matters have come to my attention in connection with the examination giving me cause to believe thal in any material SpeCt. 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 Tecords- or the accounts do not comply with the applieAble requirements conceming Ihe form and content of accounts set out in the Charities {Accounts and Reports) Regulabons 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independenl examination. I have no concems and have come across no other matters in tt)nne¢tion wtlh the examination to which attention should be drawn in this report in order lo enable a proper understanding of the accounls to be reached. Julia Mortimer FCCA MHA Ilrading name of Maclntyre Hudson LLP) Limited liability partnership in England & Wales Registered number OC312313 CARDIFF CF23 8RS Page 3
OASIS COMMUNtrY CHURCH ABERDARE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 2024 Totsl funds 2023 Total funds Unreslricled funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 142,174 142,174 101,736 Charitable actlvities Ministry outreach 22.235 4.562 26,797 21,341 Investment income Other income 1.876 1.682 1,876 1,682 356 10,929 Total 167,967 4,562 172.529 134.362 EXPENDITURE ON Charitable activities Ministry outreach 143.850 3.602 147.452 146,331 NET INCOMEI(EXPENDrruRE) 24,117 960 25,077 111.969) RECONCILIATION OF FUNDS Total fvnds brought forward 709.462 709,462 721,431 TOTAL FUNDS CARRIED FORWARD 733,579 960 734.539 709,462 The notes fomi part of these financial stslements Page 4
OASIS COMMUNITY CHURCH ABERDARE BALANCE SHEET 31 MARCH 2024 2024 Total fvnds 2023 Total fijnds Unrestricted funds Re3trided funds Notss FIXED ASSETS Tangibla assets io 570,814 579,814 S93,495 CURRENT ASSETS Debtor8 Cash at bank and in hand 11 18.401 141,765 18,401 142.725 15,620 106.873 960 160.166 161,126 122,293 CREDITORS Amounts falling due withln one year 12 16,401) (6,401) 16.3261 NET CURRENT ASSErs 153,765 154.725 115,967 TOTAL ASSETS LESS CURRENT LIABILITIES 733,579 960 734,539 709,462 NET ASSETS 733,579 734,539 709,462 FUNDS UnstrIcted funds R85trKted funds 14 733,579 960 709,462 TOTAL FUNDS 734.539 709.462 nFia statements w8re approved by the Board of Trustees and authorised for tssue - and were Bigned on its behall by.. on The not¢$ fomi part of tha8È financ¢al st8t•mènls Pagè 5
OASIS COMMUNITY CHURCH ABERDARE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 STATUTORY INFORMATION Oasis Communlty Church Aberdare is a registered charity, registered in England and Wales under charity number 1159713. The goveming document of Oasis Community Church Aberdare is its Constitution and it is a Charitable Incorporated Organisation {CIOI. The principal address is Hirwaun Road. Tre¢ynon, Aberdare, Mid Glamotuan, CF44 8ED. The nature of the charity's operations and principal activities are disclosed within the Report of the Trustees. The financlal statemenls are presented in Sterfing {£}, the charity's functional currency, and rounded lo the nearest pound. The signFficant accounting policies applted in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. ACCOUNTING POLICIES Basis of preparing tho financial Statements The financial statements of Ihe charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP {FRS 1021 'Accounting and Reporting by Charities- Statement of Recomrnended Practi applicable to charities preparing their accounls 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 applicaiAe in the UK and Republic of Ireland, and the Charities Act 2011. The financral statements have been prepared under the historical cosl convention. The financial statements have been prepared to gtve a 'true and fail view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent to provide a Irue and fairf view. This departure has involved following the A¢¢ounting and Reporting by Chartlies.. Statement of Recommended Practice applicable to charities preparing Iheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland issued in October 2019 rather than the Aixounting and Reporting by Charities- Slalement of Recommended practi effective from 1 April 2005 which has since been withdrawn. There have been no material departures from Financial Repon9 Standard 102. Going concem No mate¥ial uncertainties exist relating lo events or conditions that may cast significant doubt upon the entivs ability to continue as a going COnM. Income Atl income is recognised in the Statement of Financial Activities once the charity has entrfement to Ihe funds. it is probable that the income will be received. and the amount can be measured reliably. Donatton income includes donations. gifts and grants Ihat provide core fiJnding or, are of a general nature and are recognised where there is entitlement. probability of receipt and the amount can be measured with sufficient reliability. Such income is only deferred when the donor spectfies it must be used in fvlure accounting periods or the donor has imposed conditions which must be met before the charsty has unconditional entitlement. Income from charitable activities includes income received under contract or where entltlement lo grant fvnding is subject to specific performance conditions. This income is recognised as the related services are provided and there is entiuement. probability of receipt and the amount can be measured with sufficient reliabilty. In¢ome is deferred when the amounts received are in advance of the perf0rrnan of the servtce or event to which they relate. Investment income is re¢ognised on a re1vable basis. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, il 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 accnjals basis and has been dassified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed lo particular headings they have been allocated to activities on a basis consistent with the use of resources. Page 6 continued...
OASIS COMMUNifi CHURCH A8ERDARE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES - continued Expenditure Expenditure on charitable act¢vities ¢omprises those ¢osts incurred by the Charity in Ihe delivery of ils activities and services for its beneficiaries. It include5 both costs that can be allocated directly to such activtties and those costs of an indirect nature necessary to support them. Support costs are those costs that. whilst necessary to dellver an adlvty, do not themselves produce or conslitule the output of the charitable activity. This includes governance costs whith a those costs associated with meeting the constitutional and ststutory requirements of the charity and indude the accountanry fees and costs linked to the strategic management of the charity. Tangible fixed assets Fixed assets are initially recorded at cost. DepCIatiOn is provided at the following annual rates in order to write off each asset (less expected residual value) over its estimated usefijl life. Freehold propety Improvements to property Plant and machinery Fixtures and fittings Motor Vehicles 2¥0 Straight line 2 /0 Straight line - 250h straighl line 12.5°k straight line 20% straight line Taxation The charity is exempt from tax on its charitable acliwtses. Fund accountlng Unrestrtcted funds can be used in accordance with the d)aritabla objectives at the discretion ofthe trustees. Restricted fijnds can only be used for pariicular restrÉcted purposes within the objects of the ¢harity. Restrictions arise when specified by the donor orwhen funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fijnd is included in Ihe notes to the financial statements. Penslon cosls and other po$t-retirement benefits The charity operates a defined (x)nlribulion pension scheme. ContributÈons payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Financial instruments The ¢harity only ha5 financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments a initially recognised al transaction value and subsequenuy measurèd at their setdement value. Dèbtors Trade debtors and other debtors are recognised at the settlement amount due. Prepayments are valued al Ihe amount prepaid. CreditOTS Creditors are recognised where the charity has a present obligation resulting from a past event that will Probably result in Ihe transfer of funds to a third party and the amount due to settle Ihe obligatson can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due. Page 7 continued...
OASIS COMMUNITY CHURCH ABERDARE NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 DONATIONS AND LEGACIES 2024 2023 Donations Gift aid 126,334 15,840 87.633 14,103 142,174 101,736 INVESTMENT INCOME 2024 2023 Deposlt ac¢ount interest 1,876 356 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Activity Ministy outreach Ministy outreach Ministy oUta¢h Grants 22,235 4,562 8.906 12,435 26.797 21,341 Grants received, included in the above, are as follows: 2024 2023 Purple Shoots- Communty Renewal Fund Interlink- Foodwse Rhondda Cynon Taf CBC- Winter Hardship Rhondda Cynon Taf CBC- Food Support Fund Future Valleys Construction - Communities Initiative Fund Rhondda Cynon Taf CBC- Community Facilities Support Programme RCTCBC- Together Neighbour NeOrk 9,269 500 1,200 1,466 3,062 540 960 4,562 12,435 SUPPORT COSTS Govemance ¢osts other Totals Ministry outreach 8,473 2,633 11,106 Induded in govemance costs are fees amounting to £2.880 (2023 £2.400) in respect of independent examination fees. TRUSTEES. REMUNERATION AND BENEFITS There were no trustees. remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Tru$t¢¢$' expenses There were no twstees. expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. Page 8 continued...
OASIS COMMUNITY CHURCH ABERDARE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 STAFF COSTS 2024 2023 Wages and salaries Social security costs Other pension costs 48,005 582 894 42,6¢)0 826 49.481 43.426 The average monthly number of employees during the year was as follows: 2024 2023 Support Staff No employees received emoluments in excess of £60,000. COMPARATlliES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fvnds Restricted funds Total nds INCOME AND ENDOWMENTS FROM Donations and legacies 101.736 101,736 Charltable actlvltles Ministry outreac 8.906 12,435 21.341 Investment income other income 356 10.929 356 10,929 Total 121.927 12,435 134.362 EXPENDITURE ON Charitsble activities Ministry oulwGh 100.035 46.296 146,331 NET INCOMEI(EXPENDITURE) 21.892 (33,861) {11.969) RECONCILIATION OF FUNDS Total fvnds brought forward 687.570 33,861 721,431 TOTAL FUNDS CARRIED FORWARD 709.482 709.462 Page 9 continued.
OASIS COMMUNITY CHURCH ABERDARE NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 10. TANGIBLE FIXED ASSETS Improvements lo property Freehold property Plant and machinery COST At 1 April 2023 Additions 260,000 337,796 53.627 9,264 At 31 March 2024 260,000 337,796 62,891 DEPRECIATION At 1 April 2023 Charge for year 15.600 5.200 30,077 6,756 43,053 5,288 At 31 March 2024 20,800 36,833 48,341 NET BOOK VALUE At 31 March 2024 239.200 300,963 14,550 At 31 March 2023 244.400 307.719 10.574 Fixlures and ffittings Motor vehi¢les Totsls COST At 1 April 2023 Addittons 32.658 498 10,432 694,513 9,762 At 31 March 2024 33,156 1Q,432 704.275 DEPRECIATION At 1 April 2023 Charge for year 10.024 4,113 2.264 2,086 101,018 23.443 At 31 March 2024 14.137 4,350 124.461 NET BOOK VALUE At 31 March 2024 19.019 6.082 579.814 At 31 March 2023 22.634 8,168 593.495 In the year ended 31 March 2020 the premises at Oasis Church, Aberdare was legally transferred into the name of the ¢harity at nil cost. The property has been recognised at its original cost of £135.000. In the year ended 31 March 2020 the ¢harity was gifted the legal transfer of a property and land at Pertywuan, Aberdare. This property has been recognised at twstee valuation of £125.000. The trustees have no formal qualtfications with regard to property valuation. Page 10 conlinued.-.
OASIS COMMUNITY CHURCH ABERDARE NOTES TO THE FINANCIAL STATEMENTS . contlnued FOR THE YEAR ENDED 31 MARCH 2024 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors Income lax recoverable Prepayments and accrued income 45 15.840 2,516 14,103 1,517 18,401 15.620 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Social security and other taxes Other creditors Accruals and deferred income 1,193 430 1,898 2,880 400 406 858 4,662 6.401 6,326 13. LEASING AGREEMENTS Minimum lease payments under non-cancellable operaling leases fall due as follows: 2024 2023 Within one year Beeen one and five years 7.301 29.780 518 1,037 37,081 1.555 14. MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 3113124 At 114123 Unrestricted funds General fund Designated fijnd - Challenge Valleys 686.137 23.325 24,117 20,884 {20.8841 731.138 2,441 709.462 24.117 733.579 Restricted funds Panty Fund 960 TOTAL FUNDS 709.462 25,077 734,539 Page 11 ontinued..-
OASIS COMMUNITY CHURCH ABERDARE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 14. MOVEMENT IN FUNDS - continued Nel movement in fvnds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 167,967 (143,850) 24,117 R¢strl¢ted funds Community Facilities Programme Pantry Fund Community Initiative$ Fund 540 960 3.062 15401 960 13,062) 4,562 {3.602) 960 TOTAL FUNDS 172.529 {147,452) 25.077 Comparatives for movement in funds Net movement in funds Transfers between fijnds At 3113123 At 114122 Unrtrstricted fi*nd$ General fLtnd Designated fund- Challenge Valleys 677,189 10,381 9.892 12,000 (944) 944 686,137 23,325 687,570 21,892 709.462 Restrfeted funds Community Facilities Programme 33.861 (33,861) TOTAL FUNDS 721.431 111.969) 709.462 Comparative net movement in fijnds, incEuded in the above are as follows: Incoming resources Resources expended Movement in funds Unrestrictod fvnds General fund Designated fund - Challenge Valleys 109,927 12.000 (100,0351 9,892 12.000 121,927 {1(10.0351 21.892 Restricted funds Community Facilities Programme Pantry Fund Rhondda Cynon Taf CBC- Winter Hardship Fund {33,861) (11.235) 133,8611 11,235 1.200 {1.200) 12,435 (46,296) {33.861) TOTAL FUNDS 134,362 1146.331) {11,969) Funding was received from RCTCBC relating lo Communty Facillties Programme making funds available to local groups and organisalions who support communities who are in need of help during the Cost of Living Crisis. Page 12 continued...
OASIS COMMUNITY CHURCH ABERDARE NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 14. MOVEMENT IN FUNDS - contlnued The Pantry Fund was established to purchase panty supplies. supported by Purple Shoots funding, the RCTCBC Food Support fund, the newJhbour network fvnd and Interflnk Foodwise Grant. The Community Initiatives Fund was a restrlcted grant received from Future Valleys Construction towards church projects supporting the local area. Prlor ear restricted fund The RCTCBC Winter Hardship Fund was received to provide a wamispace durtng the wtnter months. Transfers between funds A transfer of £20.884 was made from the designated fijnd for Challenge Valleys to the unrestricted nd. with the purpose of matching the designated fund with the balance on the Challenge Valleys current account at 31 March 2024. 15. RELATED PARTY DISCLOSURES During the year. the charity received donations of £21.240 {2023.. £11,943) from trustees and their close family. Rlchard's Funeral Servi$ Limited a a lated party of the charity as it 15 controlled by the trustees. During the year income of £150 {2023.' £250) was received from Richard's Funeral SeThiees Limited. During the year the charity paid employees who are related to one of the trustees. The tolal amount paid to the employees in Ihe period after thè tnjstee was appointed on l October 2023 totalled £23,239. At the year end the amount payable to the two employees totalled £Nil. Page 13