REGISTERED COMPANY NUMBER: CE011980 (England and Wales) REGISTERED CHARITY NUMBER: 1175563
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2020
FOR
OASIS CHRISTIAN FELLOWSHIP (TELFORD) CIO
D E Ball & Co Limited Chartered Accountants 15 Bridge Road Wellington Telford Shropshire TF1 1EB
OASIS CHRISTIAN FELLOWSHIP (TELFORD) CIO
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31st December 2020
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | to | 6 |
| Notes to the Financial Statements | 7 | to | 10 |
| Detailed Statement of Financial Activities | 11 |
OASIS CHRISTIAN FELLOWSHIP (TELFORD) CIO
REPORT OF THE TRUSTEES for the Year Ended 31st December 2020
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st December 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
Oasis Christian Fellowship (Telford) is set up for the advancement of the Christian faith in accordance with the basis of faith, and such other charitable purposes as shall, in the opinion of the Trustees, put into practice the Christian faith including but not limited to, the prevention and relief of need, hardship and sickness, the advancement of education and provision of social welfare facilities.
Significant activities
The trustees purchased a building to provide a permanent establishment for the church.
The trustees recognise the need to generate funds to cover the associated loan repayments along with the costs of meeting their charitable objectives.
Public benefit
The trustees have had regard to the public benefit guides PB1, PB2 and PB3 when making decisions on the actions of the charity.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
While Covid has impacted the activities of the Charity, it has managed to evolve it's activities to deal with Covid.
The financial position of the Charity has remained satisfactory.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document,a deed of trust, and constitutes a charitable incorporated organisation.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
CE011980 (England and Wales)
Registered Charity number
1175563
Registered office
Unit B1 Stafford Park 15 Telford Shropshire TF3 3BB
Trustees
C M Agyeman K N Etsibah C Beech Ms A Bentil Rev J D Botfield
Page 1
OASIS CHRISTIAN FELLOWSHIP (TELFORD) CIO
REPORT OF THE TRUSTEES for the Year Ended 31st December 2020
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner
D E Ball & Co Limited Chartered Accountants 15 Bridge Road Wellington Telford Shropshire TF1 1EB
Approved by order of the board of trustees on 6th December 2021 and signed on its behalf by:
Ms A Bentil - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF OASIS CHRISTIAN FELLOWSHIP (TELFORD) CIO
Independent examiner's report to the trustees of Oasis Christian Fellowship (Telford) CIO ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st December 2020.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Russell Ball D E Ball & Co Limited Chartered Accountants 15 Bridge Road Wellington Telford Shropshire TF1 1EB
6th December 2021
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OASIS CHRISTIAN FELLOWSHIP (TELFORD) CIO
STATEMENT OF FINANCIAL ACTIVITIES
for the Year Ended 31st December 2020
| 31.12.20 | 31.12.19 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 40,517 | 50,658 | |
| EXPENDITURE ON | |||
| Charitable activities | |||
| Church | 46,226 | 42,055 | |
| NET INCOME/(EXPENDITURE) | (5,709) | 8,603 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 101,044 | 92,441 | |
| TOTAL FUNDS CARRIED FORWARD | 95,335 | 101,044 |
The notes form part of these financial statements
Page 4
OASIS CHRISTIAN FELLOWSHIP (TELFORD) CIO
BALANCE SHEET
31st December 2020
| 31.12.20 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 5 241,995 CURRENT ASSETS Cash at bank 10,210 CREDITORS Amounts falling due within one year 6 (6,330) NET CURRENT ASSETS 3,880 TOTAL ASSETS LESS CURRENT LIABILITIES 245,875 CREDITORS Amounts falling due after more than one year 7 (150,540) NET ASSETS 95,335 FUNDS 10 Unrestricted funds 95,335 TOTAL FUNDS 95,335 |
31.12.19 Total funds £ 245,283 5,784 (5,860) (76) 245,207 (144,163) 101,044 101,044 101,044 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2020 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
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continued...
OASIS CHRISTIAN FELLOWSHIP (TELFORD) CIO
BALANCE SHEET - continued 31st December 2020
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 6th December 2021 and were signed on its behalf by:
A Bentil - Trustee
J D Botfield - Trustee
The notes form part of these financial statements
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OASIS CHRISTIAN FELLOWSHIP (TELFORD) CIO
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31st December 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% on cost Motor vehicles - 25% on reducing balance
Freehold property is not depreciated. The trustees are of the view that the level of ongoing repair and maintenance of the property will result in the residual value of the property at the end of its useful life being greater than its original cost. This is reviewed annually by the trustees.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
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OASIS CHRISTIAN FELLOWSHIP (TELFORD) CIO
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31st December 2020
2. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 31.12.20 | 31.12.19 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 4,438 | 3,473 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st December 2020 nor for the year ended 31st December 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st December 2020 nor for the year ended 31st December 2019.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 50,658 |
| EXPENDITURE ON | |
| Charitable activities | |
| Church | 42,055 |
| NET INCOME | 8,603 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 92,441 |
| TOTAL FUNDS CARRIED FORWARD | 101,044 |
continued...
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OASIS CHRISTIAN FELLOWSHIP (TELFORD) CIO
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31st December 2020
5. TANGIBLE FIXED ASSETS
| Fixtures Freehold and Motor property fittings vehicles £ £ £ COST At 1st January 2020 226,210 9,924 14,240 Additions - 1,150 - At 31st December 2020 226,210 11,074 14,240 DEPRECIATION At 1st January 2020 - 1,285 3,806 Charge for year - 1,233 3,205 At 31st December 2020 - 2,518 7,011 NET BOOK VALUE At 31st December 2020 226,210 8,556 7,229 At 31st December 2019 226,210 8,639 10,434 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.20 £ Bank loans and overdrafts (see note 8) 5,400 Accrued expenses 930 6,330 7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.12.20 £ Bank loans (see note 8) 150,540 8. LOANS An analysis of the maturity of loans is given below: 31.12.20 £ Amounts falling due within one year on demand: Bank loans 5,400 Amounts falling between one and two years: Bank loans - 1-2 years 11,400 Amounts falling due between two and five years: Bank loans - 2-5 years 17,100 Amounts falling due in more than five years: Repayable by instalments: Bank loans more 5 yr by instal 122,040 |
Totals £ 250,374 1,150 |
|---|---|
| 251,524 | |
| 5,091 4,438 |
|
| 9,529 | |
| 241,995 | |
| 245,283 | |
| 31.12.19 £ 5,400 460 5,860 31.12.19 £ 144,163 |
|
| 31.12.19 £ 5,400 |
|
| 1,880 | |
| 17,100 | |
| 125,183 |
continued...
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OASIS CHRISTIAN FELLOWSHIP (TELFORD) CIO
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31st December 2020
9. SECURED DEBTS
The following secured debts are included within creditors:
| 31.12.20 | 31.12.19 | |
|---|---|---|
| £ | £ | |
| Bank loans | 155,940 | 149,563 |
10. MOVEMENT IN FUNDS
The General Fund represents surplus funds raised while meeting Oasis Christian Fellowships objectives.
The retained surplus is being used to fund the purchase of a church building .
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st December 2020.
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OASIS CHRISTIAN FELLOWSHIP (TELFORD) CIO
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
for the Year Ended 31st December 2020
| 31.12.20 | 31.12.19 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations - regular giving | 29,798 | 50,658 |
| Donations - other | 3,000 | - |
| Gift Aid | 7,719 | - |
| 40,517 | 50,658 | |
| Total incoming resources | 40,517 | 50,658 |
| EXPENDITURE | ||
| Charitable activities | ||
| Light and heat | 1,640 | 2,702 |
| Telephone | 678 | 498 |
| Advertising | - | 229 |
| Sundries | 354 | 1,259 |
| Repairs & maintenance | 25,583 | 14,366 |
| Ministry training | - | 600 |
| Welfare | 3,243 | 3,331 |
| Motor & travel | 3,164 | 4,802 |
| Church consumable | 1,174 | 2,677 |
| Instruments | - | 1,798 |
| Depreciation - Fixtures | 1,233 | 992 |
| Depreciation - Vehicle | 3,205 | 2,481 |
| Accountancy | 470 | 460 |
| Bank loan interest | 5,250 | 5,625 |
| Bank charges | 232 | 235 |
| 46,226 | 42,055 | |
| Total resources expended | 46,226 | 42,055 |
| Net (expenditure)/income | (5,709) | 8,603 |
This page does not form part of the statutory financial statements
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