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2022-08-31-accounts

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 2022

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 2022

Directors

S Culy (appointed 11/11/21) Dr K Draper (resigned 2/12/21) F Yafai (appointed 11/11/21) C Spence (appointed 31/1/22) 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 (resigned 5/7/22) K Simmonds (appointed 5/7/22)

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 2022

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 2022. 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 2022

The risks and impact of the cost of living crisis 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:

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 2021/22

The vision for Oasis Community Hub: Foundry & Boulton is to endeavour to bring about community transformation; helping to create a local community where people of all ages and situations feel included, know they can contribute and realise a deep sense of belonging. We aim to achieve this through the delivery of a range of services and opportunities that respond to local need.

Oasis Community Hub Foundry & Boulton is in the local community of Winson Green and Handsworth, Birmingham. We work closely with Oasis Foundry and Oasis Academy Boulton to offer holiday schemes, afterschool and lunchtime clubs and a range of enrichment activities. We also deliver two food pantries, Adult Education classes and wellbeing groups, advocacy/family support, Stay and Plays and volunteering opportunities. With local partners we have developed a community garden and have put on 8 community gathering and celebratory events over the last year.

The communities are rich in people, diversity, talents, lived experience and community spirit, whilst living in the face of multiple deprivations and daily challenges. They invest into the community with their time, skills, and life experiences, to help each other.

The last year has marked a different phase for our hub, we have moved beyond offering services that help the community survive the many hardships they face toward offering opportunities for the community and its members to thrive and share their talents. Recognising the expertise and understanding within the community and providing opportunities to share and help each other, has helped reduce the negative impact of stress on their health and wellbeing.

Page 3

OASIS COMMUNITY HUB: FOUNDRY & BOULTON

(A company limited by guarantee)

DIRECTORS’ REPORT (Cont.) FOR THE YEAR ENDED 31 AUGUST 2022

Pantry Foundry and Boulton

In May we were successful for a Reaching Communities bid to run our pantries and offer advocacy and family support. We were able to continue to employ our Pantry Manager, appoint a Project Co-ordinator and retain our admin support. The pantry team has grown in confidence, and they now run the pantries independently with only guiding input form the hub leader. They have initiated an eco-corner, where we buy oil, flour, spices, washing powder etc in bulk and pantry members bring their empty bottles to be filled. This project has been championed by the Your Local Pantry brand. It’s a huge time investment to run a food project and the team have worked hard to make it their own and establish it within the community. It’s a great place for volunteers to find their feet and make friends. Over the two pantries we have supported more 287 families and provided 21,314 meals.

Advocacy

We have very competent lived experience advocates and have between 5-10 appointments each week, many more when the household support fund was open. We support with anything from housing and school applications, form filing, reducing council tax bills, Universal Credit issues and so on. One appointment can take two hours, its hugely time consuming and vitally important. We have supported 100 individuals through our advocacy programme

Adult Education/Volunteering Opportunities

Working with Eagles Consultancy we have offered Child Care Diploma Courses. This has proven beneficial to the learners but also the hub as we have been able to make the most of skilled volunteers in our playschemes and clubs and been able to employ several learners. We also had English and Maths functional skills. The process of Adult Education along with volunteering opportunities leading to employment has been brilliant. Birmingham Adult Education Services have also offered ESOL courses which have been consistently attended too.

Events/Community Garden

Warm Earth, Newbigin Community Trust, and The Active Wellbeing Society, have collaborated with us to transform the use of the school field at Foundry, it now boasts a nature area, alpaca enclosure, and community garden. Together we have put on eight events over the year with between 75-500 plus in attendance at each, including road closures, live music, free food, tabletop sales, bouncy castles, gardening and slime workshops, mehndi, craft activities, archery, swing ball etc They are a celebration of the local community and have been joyful occasions.

The Warm Earth Team are very talented and knowledgeable and have appointed an outreach worker over the summer to work with the school and community. This has made school engagement and use of the field much more effective and linked to the curriculum. Jon Carroll the outreach worker has done assemblies and supports with Wildlife Club too. He and Warm earth are planning several initiatives to increase community engagement with garden. They also now compost all the pantry and school food waste. We have run 8 community events with a total of 1145 people attending.

Playscheme

Our HAF Christmas, Easter and Summer play schemes have also been a big feature over the last year and important in connecting us with local people, offering work opportunities for local people and free activities, a cooked meal and company for young people and preschool families. Again, we collaborate with Warm Earth, The Wildlife Trust, Newbigin Community Trust, Spectra Arts Company and local musicians, the Canal and River Trust to offer a huge range of activities. This summer we did High Ropes and visited Telford Town Park, cycling at Kingsbury Water Park and bell boating on the Birmingham Canal as well as visiting a sensory garden at City Road hospital. 370 children took part in our holiday activities throughout the year.

Page 4

OASIS COMMUNITY HUB: FOUNDRY & BOULTON

(A company limited by guarantee)

DIRECTORS’ REPORT (Cont.) FOR THE YEAR ENDED 31 AUGUST 2022

Stay and Play

Our Early years worker has worked hard to establish a stay and play group at each site. The parents are compiling a booklet of tips and ideas and encouragements that have helped them parent their pre -schoolers. The groups are slowly getting established, and the parents are taking more ownership of the groups. Coming out of Covid and opening spaces has meant a slow, gradual increase in numbers.

Clubs

We have run a Wildlife club for each academy, and clay workshops and chess club. The Wildlife Clubs have been very popular despite venturing out in the rain and cold. We offered between 10-20 spaces for each club and had 10 or more sessions each term.

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 53 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 2022

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 2022 amounted to £99,801 (2021: £33,509). Expenditure amounted to £65,019 (2021: £25,074). The overall result is a surplus of £34,782 (2021: £8,435) leaving retained funds of £57,505 (2021: £22,723) split £4,014 in unrestricted reserves and £53.491 in restricted.

Going concern

The Directors have considered the risks to the Hub, including the impact of the cost of living crisis. 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

The last year has proven to our hub team that we need a project lead for the Boulton setting. This role will enable even better connection with the academy and staff, parents and effective support with advertising and developing hub activities, partnerships, and volunteers. It will be exciting to see how this will develop. In addition, our Early Years worker contract finishes in December, and we are keen to find funding to renew it. Her Stay and Play groups are just starting to take off after a year of her hard work and we are keen to build on her success.

Cosy Corner: Offering a warm space with refreshments, activities, space to work, laptops, Wi-Fi, and company.

Page 6

OASIS COMMUNITY HUB: FOUNDRY & BOULTON

(A company limited by guarantee)

DIRECTORS’ REPORT (Cont.) FOR THE YEAR ENDED 31 AUGUST 2022

Re Loved: Working with our creative Clay tutor Lisa Slinn, also a design tutor we are piloting a project to sell some of the clothes we are donated on Vinted or eBay. She is helping us take great pictures and we have a team of volunteers to organise the selling. The aim being that we learn from each other, and all make some money for the hubs and individuals learn how to sell their own items too.

Road Map: Our hub supporter and friend Educational Psychologist Dr Anita Soni has gained funding from the NHS to run a parent voice and peer support group for families with children with additional needs. We are partnering with parents from the academies and our playscheme to run this group on a fortnightly basis. The aim of the group is to establish a Road map for parents navigating the services and adjustments and negotiating necessary to support their children. This will be fed back to the NHS to inform their services and engagement with parents.

Peacemakers Training: Our hub staff team and long-term volunteers will be offered a Peacemakers Course in the Autumn term. The course explores what positive peace means for different people, how to feel peaceful, deal with conflict and build relationships.

Community Health and Fitness: We have gym equipment at each site and still have plans to run fitness classes and gym sessions. We are finding funding streams to make this happen.

Adult Education: Several learners have preschool children, so we are offering a creche to support their access. We are piloting this scheme but plan to make it a regular offer to go with the Survival English course. This would be overseen by the Early Years Worker, whose role is vital. It also provides employment opportunities for our adult education graduates.

Together as a team, with our community work and links with Oasis Academies, we will champion character transformation and personal and spiritual wellbeing throughout the Hub, focussing on developing people socially, spiritually, and morally through Oasis’ ‘9 Habits’ and Oasis Ethos.

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:

Page 7

OASIS COMMUNITY HUB: FOUNDRY & BOULTON

(A company limited by guarantee)

DIRECTORS’ REPORT (Cont.) FOR THE YEAR ENDED 31 AUGUST 2022

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 17 January 2023 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 2022

I report on the accounts of the charity for the year ended 31 August 2022.

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:

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:

have not been met; or

Mr Matt Ryan, FCCA

32 High Street, Wendover, Bucks, HP22 6EA

Date: 17 January 2023

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 2022

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
Transfer between funds
Total funds at 1 September 2021
TOTAL FUNDS AT 31 AUGUST 2022		 Unrestricted
funds

2022
£
22
5,266
2,933		 Restricted
funds
Total
funds
Total
funds
2022
£
2022
£
2021
£

2,014
2,036
4,176

83,780
89,046
25,350

5,786
8,719
3,983

91,580
99,801
33,509
8,221
6,714
58,305
65,019
25,074

58,305
65,019
25,074

33,275
34,782
8,435

(25)
-
-

20,241
22,723
14,288

53,491
57,505
22,723
6,714
1,507
25
2,482
4,014

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 2022

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

£
62,165
710		 2022

£



57,505		 2021

26,945
44
62,875
(5,370)		 26,989
(4,266)

22,723
57,505
22,723
53,490
4,015
20,241

2,482
57,505
22,723

For the year ending 31/08/2022 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 17 January 2023 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 2022

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 2022

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 2022

2. INCOME

INCOME
Gifts & Donations
Grants
Voluntary Income		 Unrestricted
funds
2022
£
22
5,266		 Restricted
funds
2022
£
2,014
83,780
85,794		 Total
funds
2022
£
2,036
89,046
91,082		 Total
funds
2021
£
4,176
25,350
5,288 29,526

3. OTHER INCOME

Income from Other Activities
4.
CHARITABLE ACTIVITIES
Staffing
Consultancy costs
Training
Equipment
Subscriptions
Travel and subsistence
Consumable supplies
Management charges
Office costs
Bank charges
Other costs
Total Costs		 Unrestricted
funds
2022
£
2,933		 Restricted
funds
2022
£
5,786		 Total
funds
2022
£
8,719		 Total
funds
2021
£
3,983
Unrestricted
funds
2022
£
2,908
-
-
225
706
45
193
-
136
90
2,411		 Restricted
funds
2022
£
27,456
2,438
500
4,564
2,500
5,850
1,062
12,187
490
-
1,258
58,305		 Total
funds
2022
£
30,364
2,438
500
4,789
3,206
5,895
1,255
12,187
626
90
3,669
65,019		 Total
funds
2021
£
5,212
864
231
2,775
764
403
4,890
6,336
-
41
3,558
6,714 25,074

Page 14

OASIS COMMUNITY HUB: FOUNDRY & BOULTON

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

5. NET INCOMING RESOURCES / (RESOURCES EXPENDED)

This is stated after charging:

2022
£
Auditor's remuneration
275
During the year, no Directors received any remuneration (2021 - £NIL).
During the year, no Directors received any benefits in kind (2021 - £NIL).
During the year, no Directors received any reimbursement of expenses (2021 - £NIL).
6.
DEBTORS
2022
£
Debtors
710
710
7.
CREDITORS:
Amounts falling due within one year
2022
£
Creditors
5,176
Intercompany
194
5,370		 2021
£
250
2021
£
44
44
2021
£
3,549
717
4,266

Page 15

OASIS COMMUNITY HUB: FOUNDRY & BOULTON

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

8. STATEMENT OF FUNDS

Unrestricted funds
Restricted funds:
Big Lottery
Youth Club
U5’a Project
Summer Projects
Food Projects
Community		 Brought
Forward
£
2,482
25
624
2,770
7,879
8,943
-

Transfer
between
funds

£

25

(25)

-

-

-

-

-


Income
2022
Expenditure
2022
Carried
Forward

£
£
£

8,221
(6,713)
4,015

-
-
-

-
-
624

10,014
(5,622)
7,162

19,957
(18,689)
9,147

49,770
(31,570)
27,143

11,838
(2,424)
9,414
22,723
-
99,800
65,018
57,505

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:

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:

Page 16

OASIS COMMUNITY HUB: FOUNDRY & BOULTON

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

10. RELATED PARTY TRANSACTIONS

Page 17