# **Registered number: 10581583 Charity number: 1172915** ## **OASIS COMMUNITY HUB: FOUNDRY & BOULTON** **(A company limited by guarantee)** **DIRECTORS' REPORT AND INDEPENDENTLY EXAMINED FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 AUGUST 2021** ## **OASIS COMMUNITY HUB: FOUNDRY & BOULTON** ## **(A company limited by guarantee)** ## **CONTENTS** ||Page| |---|---| |**Reference and administrative details of the company, its trustees and advisers**|1| |**Directors' report**|2 – 8| |**Examiners’ report**|9| |**Statement of financial activities**|10| |**Balance sheet**|11| |**Notes to the financial statements**|12 - 17| ## **OASIS COMMUNITY HUB: FOUNDRY & BOULTON** ## **(A company limited by guarantee)** **REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS DIRECTORS AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2021** ## **Directors** S Culy (appointed 11/11/21) Dr K Draper (resigned 2/12/21) F Yafai (appointed 11/11/21) S Harewood BA Simmonds (resigned 2/12/21) ## **Company registered number** 10581583 ## **Charity registered number** 1172915 ## **Registered office** 1 Kennington Road, London, SE1 7QP ## **Company secretary** DJ Parr ## **Independent examiner** Mr Matt Ryan, FCCA _Numbers Ltd_ Page 1 ## **OASIS COMMUNITY HUB: FOUNDRY & BOULTON** ## **(A company limited by guarantee)** ## **DIRECTORS’ REPORT FOR THE YEAR ENDED 31 AUGUST 2021** The Directors (who are also Trustees of the charity for the purposes of the Charities Act) present their annual report together with the unaudited financial statements of Oasis Community Hub: Foundry & Boulton (the company) for the year ended 31 August 2021. The Directors confirm that the Annual report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Charities SORP 2019 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** ## **a. CONSTITUTION** The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 24/01/2017 and is a registered charity number 1172915. The principal objects of the Company are the advancement for the public benefit of education and health, the preservation and protection of public health generally, the relief of persons who are in need, hardship or distress and the prevention and relief of poverty. ## **b. METHOD OF APPOINTMENT OR ELECTION OF DIRECTORS** The management of the company is the responsibility of the Directors who are elected and co-opted under the terms of the Trust deed. The appointment of new directors is at the discretion of the existing directors (and/or the Guarantor). ## **c. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF DIRECTORS** Policies for the induction and training of new directors follow those of the Parent and Guarantor, Oasis Community Partnerships. ## **d. ORGANISATIONAL STRUCTURE AND DECISION MAKING** Oasis Community Hub: Foundry & Boulton (the Company) is a company limited by guarantee, whose registered number is 10581583. It is also a registered charity, number 1172915. The Company is governed by a Memorandum and Articles of Association of 24th January 2017. The Company is controlled by the Directors who are also the Trustees. The company was founded by Oasis Charitable Trust, however Oasis Community Partnerships is the immediate parent and sole member. The Company does not have a share capital. Directors are appointed by a majority of Directors or the Guarantor. The Directors have delegated the day to day activity of the Company to the Hub Leader, but retain responsibility for major strategic and governance decision. The Company was established in furtherance of Oasis Charitable Trust and Oasis Community Partnership’s intention to deliver individual and community transformation through local community hubs. As each Hub will need to respond to the issues and needs arising in its own locality and in order to engage local involvement each hub will operate as an independent legal entity but expressing the consistent ethos of Oasis. ## **e. RISK MANAGEMENT** The Directors have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks. Page 2 ## **OASIS COMMUNITY HUB: FOUNDRY & BOULTON** ## **(A company limited by guarantee) DIRECTORS’ REPORT (Cont.) FOR THE YEAR ENDED 31 AUGUST 2021** The risks and impact of Covid-19 have been assessed by the Directors and they are satisfied that risks have been mitigated wherever possible. We have confirmed grant commitments from our major funders covering the period up to and beyond August 2022. The Directors consider that Oasis Community Hub: Foundry has adequate resources to continue in operational existence for the foreseeable future and, for this reason, the Directors continue to adopt the going concern basis in preparing the accounts. ## **Objectives and Activities** The objective of the company is to operate as a catalyst for community transformation by facilitating improvements in the lives of individuals and growth in community activity and cohesion. This will be achieved by identifying and understanding the needs and strengths within the community, and by applying the Oasis Ethos to everything. The Oasis Ethos is: - A passion to include everyone - A desire to treat everyone equally, respecting differences - A commitment to healthy and open relationships - A deep sense of hope that things can change and be transformed - A sense of perseverance to keep going for the long haul Oasis Hubs will typically include activities in education, youth and children’s work, community empowerment, housing, advice and support, personal and spiritual development and health and wellbeing. ## **Achievements and Performance in 2020/21** Oasis Community Hub Foundry and Boulton is in the Winson Green and Handsworth areas of Birmingham, with community space available at both Oasis Academies Foundry and Boulton. As with every other charity, Oasis Community Hub Foundry and Boulton was heavily impacted by the Covid-19 pandemic during the year, especially during national lockdowns. This has had a substantial impact on our work; the majority of our faceface work stopped and we quickly had to adjust how we work. Our priority was making sure that our vital food poverty and pastoral support services were able to continue. Whilst this time has been significantly challenging; it has presented us with opportunities to serve our community in a unique way, and our increased online presence has helped raise our profile. The communities around both academies is rich in many ways – culture, life experience, skills, compassion, language, and ideas. Our volunteers are our biggest asset, it has been a pleasure to work with local people to invest into community development with them. Regular activities include: ## **FaB Food** We transitioned our Food project into a Your Local Pantry and then started a sister pantry at Boulton. These continue to be a fantastic way of connecting with the local community, meeting a food need, recruiting volunteers and people wanting to access out other activities. It is the heart of our hub in so many ways and we were really pleased to employ a pantry manager to oversee the project and she is doing a marvellous job. We were also really pleased to be the recipients of the free loan of an e-cargo bike to help with our pantry deliveries in an environmentally responsible way. ## **Summer Holidays Activities** We were really pleased to put on our first holiday club for some time. We ran sessions for over 8s, Young leader 13 plus and under with their families, four days a week for four weeks. This was made possible with HAF funding and included breakfast and lunch. Page 3 ## **OASIS COMMUNITY HUB: FOUNDRY & BOULTON** ## **(A company limited by guarantee) DIRECTORS’ REPORT (Cont.) FOR THE YEAR ENDED 31 AUGUST 2021** We recruited some local sessional workers and volunteers and had between 20 – 60 children, young people and parents/careers attend each day. We also partnered with Newbigin Trust to use their site in the Waseley Hills and take the children bell boating. Warm Earth ran daily sessions and so did the WildlIfe Trust. It was very popular, and we got to know some great families- some of whom have moved their children to Foundry/Boulton and now volunteer with us or have joined our pantries or Adult Education Classes. ## **Wild Life Club** With funding from the Wild Life Trust there has been a weekly afterschool Wild Life Club for 15-20 children form each school. The WLT continue to be great partners locally and sessions are based at their facility. We had some wonderful highlights such as litter picking along the canal in a bell boat and spotting baby geese in their nest to den building and making potions. ## **Alpacas and Chickens** **Alpacas** - Staff from the local charity Newbigin Trust in partnership with the Academy have supported delivering the Alpacas to Boulton for week long visits, now the enclosure has been repaired. Staff at Boulton have been trained in caring for the Alpacas and supporting children in small well-being groups to visit with them. **Charlie the Chinchilla-** is a class member among year 2 children at Foundry. The Academy now takes full responsibility for his care. **Chickens-** Boulton now has two chickens donated form Newbigin and another family. We have had an Eglu and run which are also donated. Staff have been trained how to care for them with members of the community caring for them over the week end and holidays. ## **Foundry Field Development** We have partnered with a local charity called Warm Earth who had a community garden at City Road Hospital but were recently evicted because a of the new hospital build. Warm Earth have sectioned off an area on the field and installed raised beds a water gathering pergola, water butts, compost toilet, poly tunnels and a composting system that generates power to heat the plant beds all year round. We hope soon they will be able to compost most of the school’s food waste. Over the summer we employed one of their team to run growing sessions as part of our holiday activities offer. Each Wednesday they have open volunteers’ sessions that some of our pantry members attend. We are planning joint bids for further wellbeing groups for the community. In addition, The Warm earth team have led growing sessions with the school children leading to a bumper harvest of pumpkins and they also revitalised and re planted the front garden at Boulton House. ## **Good Runners** The Good Runners continue to be a great partner for us, most recently weeding and muck spreading at the Boulton House front garden. They are a brilliant group of people and have really helped move us on with key projects like digging a pond for the Wildlife area and planting hedgerows with the WLT on the field. We are looking forward to another year of this wonderful group’s support ## **Boulton Community House** Boulton Hub is coming into its own and we now have a second Pantry in the house, with five volunteers, plus Hub Council chair supporting with vital admin work. We have added some clothing sales and a Place of Welcome. These have proven popular and we plan to add an internet café with some chrome books donated to the Hub. The school gym has also moved over to the house and we are putting in bids to hire a personal trainer to offer sessions to the community- the personal trainer is also a pantry member. ## **Stay and play** We now have two stay and plays, one based at Boulton House on Tuesdays and one in Bishop Latimer Church Hall on Mondays. Both are run by a team of volunteers and a lead partner from Operation Mission who uses her supported hours to lead the team. She is a qualified L3 Nursery Nurse- so very well placed to do an excellent job. Both groups have proven popular and are steadily growing. ## **Adult Education** We now have two ESOL groups running at Boulton House. Also, Child Care Level 1 and Level 2 Diploma courses and Functional Skills English at Boulton. Page 4 ## **OASIS COMMUNITY HUB: FOUNDRY & BOULTON** ## **(A company limited by guarantee) DIRECTORS’ REPORT (Cont.) FOR THE YEAR ENDED 31 AUGUST 2021** ## **Informal advice drop-in and support** . We continue to provide advice and support, but have had to change to an appointment systema dn also do a lot of signposting to partner organisations. We also provide further support through the pantries/Place of Welcome/Adult Education classes and from school referrals. ## **Relationship of Oasis Community Hub: Foundry & Boulton to other Oasis companies** The Hub has three relationships with the wider Oasis group: 1. With the national group of Oasis organisations 2. With the Oasis Community Partnerships group 3. With the Oasis Academies Foundry and Boulton These are described below as follows: ## **1. The national Oasis Group** The Oasis family of charities in the UK has been structured to enable the entire group to benefit from working together towards national objectives while at the same time being able to deliver maximum impact in local communities. The challenge of running a national charity is in ensuring the correct needs are being addressed in local communities, while the advantage is working collaboratively at a national level to minimise cost locally and benefitting from the value of interdependent working. This ‘hybrid structure’ has been developed to ensure that local ownership and oversight is achieved whilst leveraging economies of scale. At a national level, Oasis Charitable Trust is responsible for all Oasis’ activities in the UK and is the parent company for three national subsidiaries. These are: 1. Oasis Community Learning – a multi-academy chain running 52 academies across England 2. Oasis Community Partnerships – a charity delivering community development work 3. Oasis Community Housing – a housing charity supporting vulnerable adults and young people ## **2. The Oasis Community Partnerships Group** Within this group structure, Oasis Community Partnerships is responsible for all of Oasis’ community development work in the UK. It is the national holding company for 19 local Oasis Community Hubs and one Trading Company, delivering integrated community development work in a number of targeted neighbourhoods across the country. Oasis Community Hub: Foundry & Boulton is a local subsidiary of Oasis Community Partnerships, which, in the same way as the group structure. This enables sharing of resources, best practice and central support functions while Oasis Community Hub: Foundry & Boulton operates locally in order to respond appropriately to the needs of the local area. As a result, Oasis Community Hub: Foundry & Boulton benefits from higher quality and cheaper infrastructure than it would be able to access as entirely standalone organisation. Page 5 ## **OASIS COMMUNITY HUB: FOUNDRY & BOULTON** ## **(A company limited by guarantee)** ## **DIRECTORS’ REPORT (Cont.) FOR THE YEAR ENDED 31 AUGUST 2021** ## **3. Oasis Community Hub: Foundry & Boulton and its partnership with Oasis Academies** Oasis Community Hub: Foundry and Boulton is governed by a local board of trustees, who are accountable for the financial management of the Hub, overseeing the development of projects to meet local needs and ensuring that those projects benefit from any funds raised. As explained about Oasis Community Hub: Foundry and Boulton is a subsidiary of Oasis Community Partnerships, which in turn is a subsidiary of Oasis Charitable Trust. Oasis Community Hub: Foundry and Boulton delivers integrated community development work in the Winson Green area of Birmingham and in particular the community surrounding Oasis Academies Foundry and Boulton (primary schools). One objective of Oasis Community Hub: Foundry and Boulton is to provide wrap around care for students and their parents/carers at the Academy. Therefore, Oasis Community Hub: Foundry and Boulton works in close partnership with Oasis Academies Foundry and Boulton in order to provide integrated and holistic community transformation. Because the Academies are able to articulate strong educational outcomes from the role of Hub Leader, a portion of their salary is funded from the Academy budget. The Academies are accountable to the Department for Education and Education Funding Agency, who rigorously regulate the spend of statutory funds and are therefore only able to fund community roles which have clear and identifiable educational outcomes for students. However, Oasis Community Hub: Foundry and Boulton has a broader purpose in providing community interventions for the entire area and therefore there are a range of additional community roles and programmes which must to be funded in other ways. Therefore, Oasis Community Hub: Foundry and Boulton has been specifically established to govern our charitable community activities in the area. ## **Financial review** The total incoming resources during the year ended 31st August 2021 amounted to £33,509 (2020: £18,491). Expenditure amounted to £25,074 (2020: £16,215). The overall result is a surplus of £8,435 (2020: Surplus of £2,276) leaving retained funds of £22,723 (2020: £14,288). ## **Going concern** The Directors have considered the risks to the Hub, including the impact of Covid-19, and these include the ability for the Hub to carry out its activities in an environment where social distancing rules are expected to be in force for some time. The Directors have confirmed that the major sources of grant funding are committed and the delivery of the activities can be adjusted to ensure that guidelines around social distancing can still be applied. Furthermore, the Directors are confident that costs will only be incurred to the extent that funding is secured. The Directors are confident that the Hub has adequate resources to continue operating for the foreseeable future and, for this reason, the Trustees continue to adopt the going concern basis in preparing the accounts. ## **Plans for the future** We are in the process of applying for large funding grants which would give us some stability and really secure the Pantry in terms of staffing, provision and wrap around activities, also some external works improvements at Boulton house to make it more accessible. Page 6 ## **OASIS COMMUNITY HUB: FOUNDRY & BOULTON** ## **(A company limited by guarantee) DIRECTORS’ REPORT (Cont.) FOR THE YEAR ENDED 31 AUGUST 2021** We aim to have additional wellbeing, craft and a range of clubs for adults during the school day. In addition, we aim to offer some form of activity every school holiday for families. We plan to broaden the After School clubs and Lunchtime clubs we currently offer. We have also received some funding to employ an early years' development worker to start in January 2022. The idea is for the worker to support the development of a community of parents, including online groups, a toy library and home play packs also support and sign posting and arranging outings. It is the intention of the Directors that in due course Oasis Community Hub: Foundry and Boulton will establish and retain sufficient funds to cover the running costs for three months. ## **DIRECTORS' RESPONSIBILITIES STATEMENT** The Directors (who are also Trustees of Oasis Community Hub: Foundry and Boulton for the purposes of charity law) are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Directors to prepare financial statements for each financial year. Under company law the Directors must not approve the financial statements unless they are satisfied that they 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 these financial statements, the Directors are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. Page 7 ## **OASIS COMMUNITY HUB: FOUNDRY & BOULTON** ## **(A company limited by guarantee) DIRECTORS’ REPORT (Cont.) FOR THE YEAR ENDED 31 AUGUST 2021** The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and 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 preparing this report, the Directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006. This report was approved by the Directors on 02/02/2022 and signed on their behalf by: S Culy Director Page 8 ## **OASIS COMMUNITY HUB: FOUNDRY & BOULTON** ## **(A company limited by guarantee) EXAMINERS’ REPORT FOR THE YEAR ENDED 31 AUGUST 2021** I report on the accounts of the charity for the year ended 31 August 2021. ## **Respective responsibilities of trustees and examiner** The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to: - examine the accounts under section 145 of the 2011 Act; - to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and - to state whether particular matters have come to my attention. ## **Basis of independent examiner’s report** My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below. ## **Independent examiner’s statement** In connection with my examination, no matter has come to my attention: - 1) which give me reasonable cause to believe that in any material respect the requirements: a. to keep accounting records in accordance with section 130 of the 2011 Act; and b. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or - 2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. ## _**Mr Matt Ryan, FCCA**_ 32 High Street, Wendover, Bucks, HP22 6EA Date: 07/01/2022 Page 9 ## **OASIS COMMUNITY HUB: FOUNDRY & BOULTON** ## **(A company limited by guarantee)** ## **STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an Income and Expenditure Account) FOR THE YEAR ENDED 31 AUGUST 2021** |**Note**
**INCOME**
Gifts & Donations
2
Grants
2
Other Income
3
**TOTAL INCOMING RESOURCES**
**EXPENDITURE**
Charitable activities
4
**TOTAL**
**MOVEMENT IN TOTAL FUNDS FOR THE**
**YEAR - NET INCOME/(EXPENDITURE)**
**FOR THE YEAR**
_Total funds at 1 September 2020_
**TOTAL FUNDS AT 31 AUGUST 2021**|**Unrestricted**
**funds**

**2021**
**£**
**3,756**
**1,000**
**120**|**Restricted**
**funds**
**Total**
**funds**
_Total_
_funds_
**2021**
**£**
**2021**
**£**
_2020_
_£_

**420**
**4,176**
_4,364_

**24,350**
**25,350**
_12,993_

**3,863**
**3,983**
_1,134_

**28,633**
**33,509**
_18,491_| |---|---|---| ||**4,876**|| |||| ||**3,274**|
**21,800**
**25,074**
_16,215_

**21,800**
**25,074**
_16,215_

**6,833**
**8,435**
_2,276_

_13,408_
_14,288_
_12,012_

**20,241**
**22,723**
_14,288_| ||**3,274**|| ||**1,602**
_880_|| ||**2,482**|| The notes on pages 12 and 17 form part of these financial statements. Page 10 ## **OASIS COMMUNITY HUB: FOUNDRY & BOULTON** ## **(A company limited by guarantee) REGISTERED NUMBER: 10581583** ## **BALANCE SHEET AS AT 31 AUGUST 2021** |**Note**
**CURRENT ASSETS**
Cash at bank
Debtors
6
**CREDITORS:**amounts falling due within
one year
7
**NET CURRENT ASSETS**
**NET ASSETS**
**CHARITY FUNDS**
Restricted funds
Unrestricted funds
**TOTAL FUNDS**|

**£**
**26,945**
**44**|**2021**

**£**



**22,723**|_2020_

_15,039_
_22_| |---|---|---|---| ||**26,989**
**(4,266)**||_15,061_
_(773)_| ||||
_14,288_| |||**22,723**|
_14,288_| |||**20,241**
**2,482**|
_13,408_

_880_| |||**22,723**|
_14,288_| For the year ending 31/08/2021 the company was entitled to exemption under section 479a of the Companies Act 2006 relating to subsidiary companies. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts. The financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). The financial statements were approved by the Directors 02/02/2022 and signed on their behalf, by: S Culy Director The notes on pages 12 to 17 form part of these financial statements. Page 11 **OASIS COMMUNITY HUB: FOUNDRY & BOULTON** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021** ## **1. ACCOUNTING POLICIES** ## **1.1 Basis of preparation of financial statements** The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP), 'Accounting and Reporting by Charities' published in March 2005, applicable accounting standards and the Companies Act 2006. ## **1.2 Company status** The company is a company limited by guarantee incorporated and domiciled in the UK and is a public benefit entity. Oasis Community Partnerships is the sole member of the company. The address of the registered office is 1 Kennington Road, London, SE1 7QP. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company. ## **1.3 Fund accounting** General funds are unrestricted funds which are available for use at the discretion of the Directors in furtherance of the general objectives of the company and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the company for particular purposes. The cost of raising and administering such funds are charged against the specific fund. ## **1.4 Income** All incoming resources are included in the Statement of financial activities when the company is legally entitled to the income and the amount can be quantified with reasonable accuracy and the likelihood of receipt of the income is gifts and donations are recognised on receipt. ## **1.5 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings: • Expenditure on charitable activities includes the costs of educational activities undertaken to further the purposes of the charity and their associated support costs. • Other expenditure represents those items not falling into any other heading. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the College’s educational operations and activities.. ## **1.6 Debtors** Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due. Page 12 ## **OASIS COMMUNITY HUB: FOUNDRY & BOULTON** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 AUGUST 2021** ## **1.7 Cash at bank and in hand** Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **1.8 Creditors and provisions** Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. ## **1.9 Financial instruments** The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Financial assets held at amortised cost comprise cash and bank and in hand, together with trade and other debtors. Financial liabilities held at amortised cost comprise bank loans and overdrafts, trade and other creditors. ## **1.10 Critical accounting judgements and key sources of estimation uncertainty** In the application of the company’s accounting policies, the directors are required to make judgements, estimates, assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects the current and future periods. In the view of the directors, no assumptions concerning the future or estimation uncertainty affecting assets and liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year. ## **1.11 Reconciliation with previously accepted Generally Accepted Accounting Practice** In preparing the accounts, the directors have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was required. In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was required. In their estimation, the impact of transitioning is not material to the financial statements and therefore the restatement of comparative items is not required. The transition date was 1 September 2014. Page 13 ## **OASIS COMMUNITY HUB: FOUNDRY & BOULTON** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021** ## **2. INCOME** |**INCOME**||||| |---|---|---|---|---| |Gifts & Donations
Grants
Voluntary Income|**Unrestricted**
**funds**
**2021**
**£**
**3,756**
**1,000**|**Restricted**
**funds**
**2021**
**£**
**420**
**24,350**
**24,770**|**Total**
**funds**
**2021**
**£**
**4,176**
**25,350**
**29,526**|_Total_
_funds_
_2020_
_£_
_4,364_
_12,993_| ||**4,756**|||_17,357_| ## **3. OTHER INCOME** |Income from Other Activities
**4.**
**CHARITABLE ACTIVITIES**
Staffing
Consultancy costs
Training
Equipment
Telecommunications
Subscriptions
Travel and subsistence
Consumable supplies
Management charges
Office costs
Bank charges
Other costs
Total Costs||**Unrestricted**
**funds**
**2021**
**£**
**120**|**Restricted**
**funds**
**2021**
**£**
**3,863**|**Total**
**funds**
**2021**
**£**
**3,983**|_Total_
_funds_
_2020_
_£_
_1,134_| |---|---|---|---|---|---| |||**Unrestricted**
**funds**
**2021**
**£**
**700**
**-**
**-**
**123**
**-**
**764**
**94**
**33**
**1,248**
**-**
**41**
**271**|**Restricted**
**funds**
**2021**
**£**
**4,512**
**864**
**231**
**2,652**
**-**
**-**
**309**
**4,857**
**5,088**
**-**
**-**
**3,287**
**21,800**|**Total**
**funds**
**2021**
**£**
**5,212**
**864**
**231**
**2,775**
**-**
**764**
**403**
**4,890**
**6,336**
**-**
**41**
**3,558**
**25,074**|_Total_
_funds_
_2020_
_£_
_6,500_
_-_
_-_
_1,817_
_346_
_-_
_148_
_-_
_2,593_
_10_
_4,801_| |||**3,274**|||_16,215_| Page 14 ## **OASIS COMMUNITY HUB: FOUNDRY & BOULTON** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021** ## **5. NET INCOMING RESOURCES / (RESOURCES EXPENDED)** This is stated after charging: |**2021**
**£**
Auditor's remuneration
**250**
During the year, no Directors received any remuneration (2020 - £NIL).
During the year, no Directors received any benefits in kind (2020 - £NIL).
During the year, no Directors received any reimbursement of expenses (2020 - £NIL).
**6.**
**DEBTORS**
**2021**
**£**
Debtors
**44**
Debtors - Intercompany
**-**
**44**
**7.**
**CREDITORS:**
**Amounts falling due within one year**
**2021**
**£**
Creditors
**3,549**
Intercompany
**717**
**4,266**|_2020_
_£_
_200_
_2020_
_£_
_-_
_22_| |---|---| ||_22_| ||_2020_
_£_
_773_
_-_| ||_773_| Page 15 ## **OASIS COMMUNITY HUB: FOUNDRY & BOULTON** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021** ## **8. STATEMENT OF FUNDS** |**Unrestricted funds**
**Restricted funds:**
Big Lottery
Youth Club
U5’a Project
Summer Projects
Food Projects|**Brought**
**Forward**
**Income**
**2021**
**Expenditure**
**2021**
**Carried**
**Forward**
**£**
**£**
**£**
**£**
_880_
**4,876**
**(3,274)**
**2,482**
_4,249_
**-**
**(4,224)**
**25**
_624_
**-**
**-**
**624**
_-_
**3,000**
**(230)**
**2,770**
_-_
**11,950**
**(4,071)**
**7,879**
_8,535_
**13,683**
**(13,275)**
**8,943**| |---|---| ||_14,288_
**33,509**
**(25,074)**
**22,723**| ## **9. ULTIMATE PARENT UNDERTAKING** The company is a wholly owned subsidiary of Oasis Community Partnerships, a company incorporated in England (registered number 08749179) and a registered charity (number 1163889). Oasis Community Partnership prepares consolidated financial statements and this is the smallest group for which accounts are prepared that incorporate Oasis Community Hub: Foundry & Boulton. Copies of these financial statement can be obtained from its registered office at 1 Kennington Road, London, SE1 7QP. OCP’s principle objectives are to: - To deliver integrated community development work in a number of targeted neighbourhoods across the country - To grow and develop Oasis hubs across the country - To facilitate regional improvement networks - To ensure the Oasis Ethos is promoted nationally and that best practise is implemented throughout the hubs. Oasis Charitable Trust (OCT) is the Ultimate Parent and is a company incorporated in England (registered number 02818823) and a registered charity (registered charity number 1026487). Oasis Charitable Trust prepares consolidated financial statements which include the results of Oasis Community Hub: Ashburton Park, and this is the largest group for which accounts are prepared that include this company. Copies of the Oasis Charitable Trust group financial statements are available from its registered office at 1 Kennington Road, London, SE1 7QP. OCT’s principle objectives are to: - To ensure that the national group of organisations is governed well and in accordance with Oasis theology and ethos - To maintain the cohesion of the family of Oasis organisations in the UK by ensuring that the Oasis vision, mission, and ethos is understood and implemented across the group of organisations - To lead the integration of work across the subsidiaries and to grow and develop Oasis Hubs – the Oasis model of community transformation - To promote the corporate message of Oasis Page 16 ## **OASIS COMMUNITY HUB: FOUNDRY & BOULTON** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021** ## **10. RELATED PARTY TRANSACTIONS** At year end there is a balance of £717 (2020: owed by the Hub to Oasis Community Partnerships £22) owed from the Hub to Oasis Community Partnerships. There were no other related party transactions. Page 17