**Charity registration number NIC101348** **Company registration number NI031842 (Northern Ireland)** ## **OASIS YOUTH CENTRE LIMITED** **(A COMPANY LIMITED BY GUARANTEE)** **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** ## **OASIS YOUTH CENTRE LIMITED (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION** ## **Trustees** Mr J J Proctor Mr J Hart Mrs F R Balmer Mr R V Chapman Mr J W S Preston ## **Secretary** **Secretary** Mr J J Proctor **Charity number** NIC101348 **Company number** NI031842 **Registered office** 15 Dorchester Park Portadown Craigavon Co Armagh BT62 3EA **Independant examiner** GMcG PORTADOWN Chartered Accountants 17 Mandeville Street Portadown Craigavon Co Armagh BT62 3PB **Bankers** Ulster Bank Ltd 20 High Street Portadown Craigavon Co Armagh BT62 1HY **Solicitors** RM Cullen & Son 16-20 Edward Street Portadown Craigavon Co Armagh BT62 3NE ## **OASIS YOUTH CENTRE LIMITED (A COMPANY LIMITED BY GUARANTEE) CONTENTS** ||**Page**| |---|---| |Trustees' report|1 - 2| |Independent examiner's report|3 - 4| |Statement of financial activities|5| |Balance sheet|6| |Notes to the financial statements|7 - 11| ## **OASIS YOUTH CENTRE LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2024** The trustees present their annual report and financial statements for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charitable company's Memorandum and Articles of Association, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2019). ## **Objectives and activities** The principal activity of the charitable company is supporting other local charities and local financial organisations connected to a charity. The objectives for which the charitable company is established, and thereby providing public benefits, are to: - Disseminate financial aid to individuals, charitable organisations and youth groups, to enable them to improve the conditions of life for those living throughout the world. They aim to provide: - Advancement in education; - Advancement in religion; - Relief for those in need by reason of youth, age, ill health, disability, financial hardship or any other disadvantage. The trustees have paid due regard to guidance issued by the Charity Commission for Northern Ireland in deciding what activities the charitable company should undertake. ## **Achievements and performance** The charitable company did not undertake charitable activities on its own account during the year. Instead, the charitable company made five donations totalling £4,500 (2023 - £2,550). Further details of these donations can be found at note 4 to the accounts. ## **Financial review** The surplus of funds for the year amounted to £1,717 (2023 - £405 deficit). Reserves at the year end consisted of £198,071 (2023 - £196,354) in unrestricted funds. ## **Plans for the future periods** The charitable company will continue to award grants to charitable organisations which they consider meet the objectives of the charitable company until such times that the reserves are depleted. Subsequently the charitable company will be wound up. ## **Reserves policy** As disclosed above, it is the intention of the trustees to award grants until such times as the reserves are fully depleted. - 1 - OASIS YOUTH CENTRE LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Structure, governance and management The charilable company is a company limited by guarantee and does not have share capital. It is governed by its Memorandum and Articles OfAssociat￿n dated 10 January 1997. The charilable company is registered with the Charity Commission for Nothem Ireland. The charltable company is also recognised as a charty with HM Revenue & Customs. under registration number XN45774. The trustees, who are also the direclors for the purpose of company law, and who served during the year and up to the dale of signature of the financial statements were= Mr J J Pr¢JCtor MrJHart Mrs F R Balmer Mr R V Chapman Mr J W S Preston The trustees of the charitable company are also directors for the purposes for charity law. Under the requirement of Ihe Memorandum and Articles ofAssoualion, trustees are appointed and relire by rolalion every three years at the annual general meeting. The number of trustees is not subject to a maximum bLrt is not less than ￿0. None of the trustees have any benefiual interest in the charitable company. All of the trustèes are members of the company and guarantee to contribute £1 in the event ofwinding up. The day to day running of the chartlable company has been designated to Mr J J Proctor, trustee. In preparing this report, the Irustees have taken advantage of the small companies exemptions provided by seclion 415A of the Companies Act 2006. Registered Office". 15 Dorchester Park Portadown Craigavon Co Armagh BT62 3EA Charity Registration No. NIC101348 Company Registration No. N1031842 The trustees. report was approved by the Board of Trustees. r J J Proctor Trustee CHAKTEKED ACCOUNTANTS OASIS YOUTH CENTRE LIMITED (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF OASIS YOUTH CENTRE LIMITED I report to the trustees on my examination of the financial statements of Oasis Youth cent￿ Limited (the charitable company) for the year ended 31 March 2024. Responsibilities of trustees and examiner As the trustees of the charitable company (and also its trustees for the purposes of charity law) you arè responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act). It is my responsibility to.. examine the finanaal statements under section 65 of the Charities Act: follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Act., and state whether particular matters have come to my attent￿n. Basis of independent examiners. report I have completed my examination. I confimi that no matters have come to my attention in ¢onnedion with the examination giving rne cause to believe that in any material respect.. accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act,. or the financial statements do nol accord with those records.. or the financial statements do not cornp￿ wtth 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 financial statements have not been prepared in accotdance with the methods and principles of the Statement of Recommended Practi￿ for accounting and reporting by charities applicable to charities preparing their accounts in accordan￿ with the Financial Rewrting Standard appIl￿ble in the UK and Republic of Ireland (FRS 102). 17 Mandeville Street A]fred House 19 A]fred Street BELF.4sr wr2 8EQ DX39kO NR Be]fast 50 Century, House 40 creS￿nt Business Park LISBURN BT28 2GN h*ry¢t¢d Crdigavon BT62 3PB Td* +44 (0)28 3833 2801 Fax:+44 (0)28 3835 0293 Tel.. +M {0}28 9031 1113 F&¥: +44 (0)28 9031 OTn Tel: +H {0)28 9260 7355 Fax: 444 (0)28 9260 1656 CHARTERED ACCOUNTANTS OASIS YOUTH CENTRE LIMITED (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER'S REPORT {CONTINUED) TO THE TRUSTEES OF OASIS YOUTH CENTRE LIMITED Independent examiner's statement I have no concerns and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Gillian Johnston ACA GMCG PORTADOWN 17 Mandeville Street Portadown Craigavon Co Armagh BT62 3PB 17 MandeTrille Street Alfred House 19 A]fred Street BELFAsr wr2 8EQ DX3910 NR Belfast 50 CentuTr House 40 Crescent Business Park LRSBL.RN r28 2GN Crdigavon BT62 3PB Tel: +44 (0)28 3833 2801 Fax: +44 (0)28 3835 0293 Tel.. +44 {0)28 9031 1113 Fax.. +44 (0128 9031 OTf7 Tel: +u {0)28 9260 7355 Fax: +44 {0}28 9260 1656 Reg￿te[eat￿(o1thCla￿1tW0[kbythelllStitute￿ra￿t*￿IA¢(￿th￿tslTr Irel0￿1 www.8mcgca.com ## **OASIS YOUTH CENTRE LIMITED (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## **FOR THE YEAR ENDED 31 MARCH 2024** |**Unrestricted**
**funds**
**2024**
**Notes**
**£**
**Income from:**
Investment income
**2**
6,809
**Expenditure on:**
Charitable activities
**3**
5,092
**Net income/(expenditure) for the year/**
**Net movement in funds**
1,717
Fund balances at 1 April 2023
196,354
**Fund balances at 31 March 2024**
198,071|Total
2023
**£**
2,732
3,137
(405)
196,759
196,354| |---|---| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. All amounts in the prior year are unrestricted in nature. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. - 5 - OASIS YOUTH CENTRE LIMITED (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes Current assets Debtors Investments Cash at bank and in hand 2,304 184,908 11.454 1,403 189.000 6,531 198.666 196,934 Creditors: amounts falling due within one year io (595) (580) Net current assels 198,071 196,354 Income funds Unrestricted funds 198,071 1￿,354 198.071 196,354 The charitable company is entitled to the exemption from the audit requirement contained in section 477 of the Gompanies Act 2006, for the year ended 31 March 2024. The trustees acknowledge their responsibilrties for ensuring that the Charitable company keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of the finanaal year and of tls incoming resources and application of resources, induding its income and expènditure, for the financial year in accordan￿ with the requirements of sections 394 and 395 and which otheNise compty with the requirements of the Companies Act 2006 relating to finanaal statements. so far as applicable to the charitable company. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance wrth section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. 71fs The financial statements were approved by the tnjstees on ......................... r J J Proctor Trustee Company Reglstration No. N1031842 **OASIS YOUTH CENTRE LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 MARCH 2024** ## **1 Accounting policies** ## **Charity information** Oasis Youth Centre Limited is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 15 Dorchester Park, Portadown, Craigavon, Co Armagh, BT62 3EA. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the charitable company's governing document, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2019). The charitable company is a Public Benefit Entity as defined by FRS 102. The charitable company has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. Thus, although it is the intention of the trustees to eventually wind up the charitable company, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charitable company. ## **1.4 Incoming resources** Income is recognised when the charitable company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charitable company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charitable company has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. - 7 - **OASIS YOUTH CENTRE LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024** ## **1 Accounting policies (Continued)** ## **1.5 Resources expended** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. ## (i) Charitable activities This comprises all the resources applied by the charity in undertaking its work to meet its charitable objectives. Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the Statement of Financial Activities once the recipient of the grant has provided the specified service or output. Where the charitable company gives a grant without performance conditions, these are recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity. Direct costs relate to expenditure directly related to providing care and support in the community. ## (ii) Governance costs Governance costs include the costs of governance arrangements which relate to the general running of the charity. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with use of the resources. ## **1.6 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of six months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **1.7 Financial instruments** The charitable company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. - 8 - **OASIS YOUTH CENTRE LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024** ## **1 Accounting policies (Continued)** ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the charitable company’s contractual obligations expire or are discharged or cancelled. ## **2 Investment income** ||**Unrestricted**|Total| |---|---|---| ||**funds**|| ||**2024**|2023| ||**£**|£| |Interest receivable|6,809|2,732| All amounts in the current and prior year are unrestricted in nature. ## **3 Charitable activities** |**Charitable activities**|| |---|---| |**Unrestricted**
**funds**
**2024**
**£**
General expenses
13
Grant funding of activities (see note 4)
4,500
Share of governance costs (see note 5)
579
5,092|Total
2023
**£**
13
2,550
574| ||3,137| All amounts in the current and prior year are unrestricted in nature. - 9 - ## **OASIS YOUTH CENTRE LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## **FOR THE YEAR ENDED 31 MARCH 2024** ## **4 Grants payable** |**Grants payable**|| |---|---| ||**Unrestricted**| ||**funds**| ||**2024**| ||**£**| |Grants to institutions:|| |The Salvation Army|1,000| |Southern Area Hospice|1,000| |St Vincent de Paul|500| |Newry Baptist Church|1,000| |Thomas Street Methodist Church|1,000| ||4,500| ## **5 Support costs** |**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Accountancy
-
579
-
579
Analysed as
Charitable activities
-
579|**2024**
**£**
579
579
579|2023
£
574| |---|---|---| |||574| |||574| ## **6 Trustees** None of the trustees (or any persons connected with them) received any remuneration or benefits from the charitable company during the year. ## **7 Employees** The average monthly number of employees during the year was: ||**2024**|**2023**| |---|---|---| ||**Number**|**Number**| |Total|-|-| - 10 - ## **OASIS YOUTH CENTRE LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## **FOR THE YEAR ENDED 31 MARCH 2024** |**8**
**Debtors**
**Amounts falling due within one year:**
Other debtors
**9**
**Current asset investments**
Short term investments
**10**
**Creditors: amounts falling due within one year**
Accruals
**11**
**Related party transactions**|**2024**
**£**
2,304
**2024**
**£**
184,908
**2024**
**£**
595|**2023**
**£**
1,403| |---|---|---| |||**2023**
**£**
189,000| |||**2023**
**£**
580| |||| There were no disclosable related party transactions during the year (2023 - none). - 11 -