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2025-06-30-accounts

Charity registration number 1128820 (England and Wales) Company registration number 4339438

THE OXFORD LITERARY FESTIVAL

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

THE OXFORD LITERARY FESTIVAL

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Y Alibhai-Brown
A J M Lowther-Pinkerton
Sir Ben Okri
P T R Simons
J M Severn
Dr Louisa Treger (Appointed 24 October
2024)
Prof Henry Woudhuysen (Appointed 20 October
2025)
Charity number 1128820
Company number 4339438
Registered office c/o Gravita Oxford LLP
First Floor, Park Central
40-41 Park End Street
Oxford
OX1 1JD
Independent examiner Gravita Audit Oxford LLP
First Floor, Park Central
40-41 Park End Street
Oxford
OX1 1JD
Bankers HSBC
65 Cornmarket Street
Oxford
OX1 3HY

THE OXFORD LITERARY FESTIVAL

CONTENTS

Page
Trustees' report 1 - 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Statement of cash flows 8
Notes to the financial statements 9 - 17

THE OXFORD LITERARY FESTIVAL

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 JUNE 2025

The Trustees present their annual report and financial statements for the year ended 30 June 2025.

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 Charity'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)" (effective 1 January 2019).

Objectives and activities

The objective of the charity is to advance education by promoting and providing opportunities for the appreciation, understanding and enjoyment of literature and the arts, in particular through the promotion and running of a literary festival in Oxford.

Public benefit

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.

Achievements and performance

Significant activities and achievements against objectives

1. FESTIVAL DE-RIGGING

The 2025 Festival was the most successful ever - but inevitably resulted in a greater workload of administration

2. FESTIVAL OUTCOMES

The Festival's very prominent and long-standing commitments to Free Speech - and the Pursuit of Excellence and Evidence have generated a significant degree of interest and support. The 2025 Festival saw several very prominent figures who have been de-platformed at other universities and festivals - invited to speak at Oxford.

3. FESTIVAL SCHOOLS PROGRAMME

We continue this project as a major priority; to increase the number of City of Oxford schools participating, and the number of free tickets for Festival events. We seek to raise more funding and sponsorship in the coming year.

4. PROMOTION OF FESTIVAL EVENTS

The media partnership with The Telegraph - for the 2025 Festival - resulted in the largest and most effective promotional campaign that the festival has ever enjoyed. And we wish to pay tribute to The Telegraph Team - and the commitment of its papers to supporting the 2026 Festival. A record 40,000 Pocket Guides were printed to mail out to the festival's database and other distributions.

5. FESTIVAL STAND-ALONE EVENTS

The 'Stand-Alone' events during the year were at a record level - and will be expanded for the future.

6. FESTIVAL VOLUNTEERS

The Festival is very fortunate to enjoy the continued support of large numbers of volunteers who look after festival venues and events - with great good humour and welcome for our ticket holders.

THE OXFORD LITERARY FESTIVAL

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

Financial review

In the year ended 30 June 2025, the Festival’s income from donations, sponsorship and other receipts increased to £848,344 (2024: £502,242), primarily due to an increase in private donations but also due to the release of deferred income of £120,399. This relates to ticket sales held in respect of the 2020 event cancelled as a result of COVID, for which the final date to use expired on 30 September 2024. Costs have increased to £612,350 (2024: £539,418).

Notwithstanding the net liabilities shown on the balance sheet, these financial statements have been prepared on a going concern basis as the Trustees are confident that sufficient funds will be available to enable operations to continue at a sustainable level for a period of at least 12 months from the approval of the accounts by the Trustees.

Reserves policy

The Trustees have considered the sustainability of the Charity and believe that a minimum reserve of £25,000 should be retained. The Charity is not yet in a position to achieve this objective, although the Charity is working hard with multiple donors and sponsors to strengthen the reserve position so the desired funds can be retained for future sustainability of the festival. Sponsorship is pursued through trusts, individuals and foundations.

Over the past year the profile of the Festival has risen very considerably, because of its unique track record of commitment to Free Speech; and the exceptional support and promotion of the Festival and its programmes and events by our Media Partner - The Telegraph.

These developments have enabled the Charity to plan and implement a new campaign for securing Corporate sponsorship in cash, goods and services; private donors; and major national and international partnerships. This programme has run throughout 2025 and will continue in 2026. Early signs are really encouraging ; enhanced by the Festival’s matching emphasis on the pursuit of excellence; and it’s platform to promote the highest quality of research; scholarship and teaching in every field.

Major risks

The Trustees have identified the major risks which may affect the charity and have taken reasonable steps to mitigate those risks.

THE OXFORD LITERARY FESTIVAL

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

Plans for future periods

The Charity plans to continue running the festival in order meet its core aims and objectives:

1. Promote literary appreciation: The festival aims to foster a love of literature and writing by providing a platform for authors to connect with readers and discuss their work. The festival gives a platform to distinguished writers in every field of human endeavour.

2. Advance education: The Festival provides opportunities for authors, journalists for learning and intellectual engagement, particularly through discussions with leading authors and thinkers. The festival also stages workshops and creative writing courses.

3. Facilitate dialogue : The festival serves as a space for dialogue, debate, and free expression, bringing together diverse voices and perspectives on a wide range of topics. The festival is deeply committed to free speech and civilised, evidence-based dialogue on controversial subjects and issues.

4. Promote international collaboration: The festival regularly features international programmes and speakers, celebrating the literature and culture of many countries and societies.

5. Support writers and authors: The Festival provides valuable opportunities for both established and new writers and authors to meet new audiences, gain exposure, and discuss their work.

6. Connect with the community: The festival engages with local schools and communities, offering opportunities for students to participate in events and engage with authors and thinkers. Festival speakers appear at schools, and school groups attend Festival events in central Oxford.

7 Oxford : The Festival has always sought to reflect Oxford and its sense of place, known for its leading University, for its traditions of the pursuit of excellence in scholarship, research, and discovery.

The Festival is committed to:

Structure, governance and management

The Oxford Literary Festival is a company limited by guarantee and is governed by its Memorandum and Articles of Association. As at 26 March 2010 the company, The Oxford Literary Festival became a charity and is registered with the Charity Commission (registered number 1128820).

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Y Alibhai-Brown

C A Allan (Resigned 21 September 2024) K Farquhar-Thomson (Resigned 1 May 2026) A J M Lowther-Pinkerton Sir Ben Okri P T R Simons J M Severn Dr Louisa Treger (Appointed 24 October 2024) Prof Henry Woudhuysen (Appointed 20 October 2025)

Recruitment and appointment of trustees

THE OXFORD LrrERARY FESTIVAL TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORTI (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025 The Board of TnJsttss apwnt mgmb8rs of th6 Board eithw to fdl a ￿SU41 vxarw or by wzy of addilim to the charivs athibes. (knnis81ional stllK(ure Day to day administration of the thwity is de*at6d lo s￿ty Dunwwe. as Chjgf ExeoJIr￿. under the supgrvts mgetsngs. Tho TnJsle8s' report was approved by tho eowd ofTnJ51 Chalrnmn: Jarl Mlcha•l 8•v•m

THE OXFORD LITERARY FESTIVAL

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE OXFORD LITERARY FESTIVAL

I report to the Trustees on my examination of the financial statements of The Oxford Literary Festival (the Charity) for the year ended 30 June 2025.

Responsibilities and basis of report

As the Trustees of the Charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Since the Charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

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 that in any material respect:

I draw your attention to note 1.2 which details the rationale for preparing the financial statements on a going concern basis.

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 financial statements to be reached.

Elinor Upjohn ACA Gravita Audit Oxford LLP

First Floor, Park Central 40-41 Park End Street Oxford OX1 1JD Date: ............................10 June 2026

THE OXFORD LITERARY FESTIVAL

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 JUNE 2025

Unrestricted Unrestricted
funds funds
2025 2024
Notes £ £
Income from:
Donations and legacies 3 458,172 128,215
Charitable activities 4 390,014 376,845
Investments 5 158 182
Total income 848,344 505,242
Expenditure on:
Charitable activities 6 612,350 539,418
Total expenditure 612,350 539,418
Net income/(expenditure) and movement in funds 235,994 (34,176)
Reconciliation of funds:
Fund balances at 1 July 2024 (373,619) (339,443)
Fund balances at 30 June 2025 (137,625) (373,619)

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

THE OXFORD LrrERARY FESTIVAL BALANCE SHEET ASAT30 JUNE2025 2024 Flx•d ••••ts TarKdltA• a8$0ts 11 439 Curr•nt •M•t• D8blc C8$h •t bgnk •nd In haThl 12 62.434 149 15,825 77 62.683 15,W2 Cr•dllorn: •nwunl• falllng du• lihln on• y••r 14 1200,537) 1383.8411 Nel curr•nt I1•bU1￿ {137,954) (387,9391 Total ••••ts l•M cww•nt Il•bllltl•• (137,623) (367.5001 Cr•dlt•rn: •mounts falllng du• •ft•r m¢x• than on• y••r 15 (8,119) N•t Il•bllltl•• (137.625} (373.6191 Incom• funds Unr8tstrlthd funds 1137.625) 1373,619) (137.625} {373.619) The company Is enltugd to the •xémpOM from th• audlt rw4uirnmenl conlalned In seth 477 01 tho Companles Acl 2￿6. ￿ the year érthd 30 JJn• 2025. The dlreclors aCkTr￿￿ed9ts thalr reSp￿s[bilitIeS for (x)mtAwTrJ trtrfth the requtrem8nts ol the Compan￿5 Act 2CM)6 The members have nol rtyuirtyj th8 C￿nY to otrtaw) an audit of Its finaThJal statements for the year in question in accordance wlth sectiwt 476. These finanaal ststem¢nts have b￿n prepaTed In •￿Idance *lth the wovlslons appllcable lo ￿MpanIeS subject to the compan58s regime. The financjal statements were apwov8d by tho Trust888 on . 26 J M Sgvem Ch•lmian: Jarl Mlchwl 8•v•m Company Reglstrallon No. 4339430

THE OXFORD LITERARY FESTIVAL

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 30 JUNE 2025

2025 2024
Notes £ £ £ £
Cash flows from operating activities
Cash generated from operations 21 49,974 19,523
Investing activities
Investment income received 158 182
Net cash generated from investing activities 158 182
Financing activities
Repayment of borrowings (54,953) (26,049)
Net cash used in financing activities (54,953) (26,049)
Net decrease in cash and cash equivalents (4,821) (6,344)
Cash and cash equivalents at beginning of year (23,912) (17,568)
Cash and cash equivalents at end of year (28,733) (23,912)
Relating to:
Cash at bank and in hand 149 77
Bank overdrafts included in creditors payable
within one year (28,882) (23,989)

THE OXFORD LITERARY FESTIVAL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

1 Accounting policies

Charity information

The Oxford Literary Festival is a charitable company limited by guarantee incorporated in England and Wales. The registered office is c/o Gravita Oxford LLP, First Floor, Park Central, 40-41 Park End Street, Oxford, OX1 1JD.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The Charity is a Public Benefit Entity as defined by FRS 102.

The Charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the Charity. 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

Notwithstanding the net liabilities shown on the balance sheet, these financial statements have been prepared on a going concern basis as the Trustees are confident that sufficient funds will be available to enable operations to continue at a sustainable level for a period of at least 12 months from the approval of the accounts by the Trustees.

In addition to this, the pattern of the charity's activities is such that voluntary income will be available from major donors at stepped intervals throughout the next 12 months, enabling the Trustees and Chief Executive to manage cashflow effectively. The Trustees are confident the 2026 finances are secure. The Trustees have the ability to reduce operations significantly if income was to fall.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

As all income in the year is unrestricted a funds note has not been considered necessary.

1.4 Income

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. The following specific policies are applied to particular categories of income:

Donations - For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

Grants - Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

THE OXFORD LITERARY FESTIVAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

1 Accounting policies

(Continued)

Donated goods, facilities and services - Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the benefit of the gift to the charity. For example the amount the charity would be willing to pay in the open market for such facilities and services. Where recognised, a corresponding amount is recognised in expenditure.

For the year ended 30 June 2025, there are no amounts recognised by the trustees in the financial statements as the value of the benefit to the charity cannot be reliably estimated.

1.5 Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

Costs of raising funds - This includes all expenditure incurred by the charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Charitable expenditure - These are costs incurred on the charitable activities, including support costs and costs relating to the governance of the charity apportioned to charitable activities.

All costs are allocated between expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly.

Support costs allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. Premises overheads have been allocated on an insert detail basis and other overheads have been allocated on an insert detail basis.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Office equipment

25% reducing balance

1.7 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 three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

THE OXFORD LITERARY FESTIVAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

1 Accounting policies

(Continued)

1.8 Financial instruments

The Charity 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 Charity's balance sheet when the Charity 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.

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.

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.

2 Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. There are no significant accounting estimates or judgements in these financial statements.

THE OXFORD LITERARY FESTIVAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2025

3 Donations and legacies

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Donations and gifts 458,172 128,215
4 Charitable activities
2025 2024
£ £
Commissions receivable 15,503 10,000
Ticket sales 281,690 212,315
Sponsorships 92,821 154,530
390,014 376,845
5 Income from investments
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Bank interest receivable 158 182

THE OXFORD LITERARY FESTIVAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2025

6 Expenditure on charitable activities

Running
Events
Governance
Costs
Total
Running
Events
Governance
Costs
2025
2025
2025
2024
2024
£
£
£
£
£
Direct costs
Staff costs
103,899
-
103,899
103,369
-
Depreciation and
impairment
110
-
110
146
-
Administrative assistance
20,811
-
20,811
16,094
-
Speakers' fees and travel
94,226
-
94,226
79,272
-
Venue costs and
equipment hire
95,315
-
95,315
70,413
-
Event running costs
169,284
-
169,284
142,578
-
Postage and stationery
3,128
-
3,128
3,899
-
Advertising
55,658
-
55,658
64,273
-
Telephone and fax
-
-
-
164
-
Printing
14,507
-
14,507
9,982
-
Travel and subsistence
33,580
-
33,580
33,520
-
Bank charges
-
4,024
4,024
-
465
Book-keeping
-
1,723
1,723
-
2,487
Office running costs
2,515
-
2,515
1,926
-
Sundry expenses
6,358
-
6,358
3,558
-
Insurance
7,212
-
7,212
7,272
-
606,603
5,747
612,350
536,466
2,952
Analysis by fund
Unrestricted funds
606,603
5,747
612,350
536,466
2,952
7
Net movement in funds
2025
£
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements
-
Depreciation of owned tangible fixed assets
110		 Total
2024
£
103,369
146
16,094
79,272
70,413
142,578
3,899
64,273
164
9,982
33,520
465
2,487
1,926
3,558
7,272
539,418
539,418
2024
£
-
146

8 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.

THE OXFORD LITERARY FESTIVAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

9 Employees

The average monthly number of employees during the year was:

Employment costs
Wages and salaries
Social security costs
Other pension costs		 2025
Number
2
2025
£
91,993
10,713
1,193
103,899		 2024
Number
2
2024
£
91,992
10,184
1,193
103,369

The total amount of employee benefits (including employer pension contributions) received by key management personnel for their services to the charity was £103,899 (2024: £103,369).

There were no employees whose annual remuneration was more than £60,000.

10 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

11 Tangible fixed assets

Tangible fixed assets
Office
equipment
£
Cost
At 1 July 2024 4,966
At 30 June 2025 4,966
Depreciation and impairment
At 1 July 2024 4,527
Depreciation charged in the year 110
At 30 June 2025 4,637
Carrying amount
At 30 June 2025 329
At 30 June 2024 439

THE OXFORD LITERARY FESTIVAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2025

12
Debtors
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income
13
Loans and overdrafts
Bank overdrafts
Other loans
Payable within one year
Payable after one year
14
Creditors: amounts falling due within one year
Notes
Bank overdrafts
13
Borrowings
Other taxation and social security
Deferred income
17
Trade creditors
Other creditors
Accruals and deferred income
15
Creditors: amounts falling due after more than one year
Borrowings		 2025
£
9,311
53,123
62,434
2025
£
28,882
6,814
35,696
35,696
-
2025
£
28,882
6,814
5,021
-
141,239
1,168
17,413
200,537
2025
£
-		 2024
£
2,500
13,325
15,825
2024
£
23,989
61,767
85,756
79,637
6,119
2024
£
23,989
55,648
36,764
120,399
126,525
1,778
18,738
383,841
2024
£
6,119

16 Members' Liability

Every Trustee undertakes to contribute to the assets of the charity in the event of it being wound up while he or she is a member or within one year after he or she ceases to be a member, an amount not exceeding £1.

The total amount of such guarantees at 30 June 2025 was £9 (2024: £7).

THE OXFORD LITERARY FESTIVAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2025

17 Deferred income

2025
£
Other deferred income
-
Deferred income is included in the financial statements as follows:
2025
£
Deferred income is included within:
Current liabilities
-
Movements in the year:
Deferred income at 1 July 2024
120,399
Released from previous periods
(120,399)
Deferred income at 30 June 2025
-		 2024
£
120,399
2024
£
120,399
122,449
(2,050)
120,399

Deferred income of £120,399 was released in 2025, this relates to ticket sales held in respect of the 2020 event cancelled as a result of COVID, for which the final date to use expired on 30 September 2024.

18 Retirement benefit schemes
2025 2024
Defined contribution schemes £ £
Charge to profit or loss in respect of defined contribution schemes 1,193 1,193

The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund.

19 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 July 2024 Incoming Resources At 30 June
resources expended 2025
£ £ £ £
General funds (373,619) 848,344 (612,350) (137,625)
Previous year: At 1 July 2023 Incoming Resources At 30 June
resources expended 2024
£ £ £ £
General funds (339,443) 505,242 (539,418) (373,619)

THE OXFORD LITERARY FESTIVAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

20 Related party transactions

During the year no trustees (2024: one trustee) donated (2024: £5,000) to the charity for general purposes.

One trustee (2024: one trustee ) had travel expenses of £294 (2024: £48) reimbursed.

During the year £170,000 of loans were advanced in the year by one trustee (2024: £20,000). No interest is charged and there are no other conditions attached to the loan.

Loans totalling £190,000 were subsequently converted to donations. No amounts remain outstanding at year end (2024: £20,000).

21
Cash generated from operations
2025
£
Surplus/(deficit) for the year
235,994
Adjustments for:
Investment income recognised in statement of financial activities
(158)
Depreciation and impairment of tangible fixed assets
110
Movements in working capital:
(Increase)/decrease in debtors
(46,609)
(Decrease)/increase in creditors
(18,964)
(Decrease) in deferred income
(120,399)
Cash generated from operations
49,974		 2024
£
(34,176)
(182)
146
5,157
50,628
(2,050)
19,523
22
Analysis of changes in net (debt)/funds
At 1
Cash at bank and in hand
Bank overdrafts
Loans falling due within one year
Loans falling due after more than one year		 July 2024
Cash flows At 30 June 2025
£
£
£
77
72
149
(23,989)
(4,893)
(28,882)
(23,912)
(4,821)
(28,733)
(55,648)
48,834
(6,814)
(6,119)
6,119
-
(85,679)
50,132
(35,547)