The Oxford Evangelical Pastorate la company limlted by guarantee) Charity Number: 1136848 Company Number: 7161962 Unaudited Account5 for the year ended 30 September 2023 Wenn Townsend Chartered Accountants Oxford
The Oxford Evangelical Pastorate Reference and Admlnistrative Information for the year ended 30 September 2023 Trustees: Professor Ewan McKendriek (resigned 3151 December 20231 Dr Anne Keene Revd Professor Joshua Horde¥n Professor Ard Louis Mr John Tranler Professor Timothy Maughan (appointed 1st January 20241 Council: Revd Stephen Foster Mrs Ginny Dunn {resigned 141h June 2023} Dr Ke2ia Gailskell Revd Rachel Gibson (resigned 28th February 2023) Revd Dan Heyward Revd Professor Joshua Hordern DrAnne Keene Revd Dr Michael Lloyd Professor Ewan McKendrick Revd Vaughan Roberts Professor Lorna Smith Revd Dr Chris Sugden {resigned 141h June 2023) Professor Ard Louis Mr John Tranler Dr Matthew Kirkpatrick lappoinled 1 Olh November 20221 Professor Timothy Maughan {appointed 141h June 20231 Chalr. Professor Ewan McKendrick (resigned 3111 December 20231 Professor Timothy Maughan lappoinled 1st January 20241 Ms Claire Shullleworth Secretary to the trustees.. Registered Address: 33 Ja¢k Straws Lane Headington Oxford OX3 ODL Accountants: Wenn Townsend Chartered Accountants 30 Sl Giles Oxford Bankers: Lloyds Bank 1 - 5 High Street Carfax Oxford Investment Managers: Walker Crips 103- 105 Bunhill Row London
The Oxford Evangelical Pastorate Contents Page Report of the Trustees Report of the Independent Examiner statement of Financial Activities Balance Sheet Notes to the Financial Statements 10-19
The Oxford Evangelical Pastorate Report of the Trustees for the year ended 30 Septgrnber 2023 The Tiuslees, who are also directors of the Charity for the purposes of the Companies Act, submit their annual report and financial statements for the yea¥ ended 30 September 2023. The financial slalements have been prepared in accordance with the accounting policies set out on pages 10 to 12 and comply with the charity's Trust Deed and applicable law. The Charity is a charitable rnPany limited by guarantee and was sel up on 18 February 2010. It is governed by 8 Memorandum and Artides of Association. structure, Governance and Management The Charity was established on 18 February 2010 and assumed the assets and liabilities of the original charity of the same name. Its objects are to promote amongst students and other members of the University of Oxford a trije and lively faith in Christ and a knowledge of Divine Truth as held by the Church of England since the Reformation. Vwhen the original charity was established a sum of money was provided lo enable a Pastor lo be appointed lo carry out the objects of the Charity by way of social contact. private teaching and public speaking. Al present, the principal focus of the charity's activities is the community of postgraduate students and researchers at the University of Oxford. During the year the Charity operated under the guidan of the Trustees (who are members of Coun¢ill and together with the Council Members, mel regularly throughout the year lo discuss the overall direction of the Charity. Day-to-day executive decisions are taken by the Chaplain in consultation with the Chair and with the other Trustees. Those Trustees and Council Members who served in the year are detailed on the Reference and Adminislralive Information page. Trustees are appointed by Council and new Trustees spend lime with the existing Trustees to ensure they understand their responsibilities and the legal and financial framework in which the Charty operates. For reference all Trustees are issued with the Charity Cornmission's publication 'The Essential Trustee.- What you need to know, what you need lo do'_ May 2018. Trustees, Responsibilities The Trustees are responsible for preparing the Trustees. Report and the financial statements in accordan with applicable law and United Kingdorn Accounting Standards (United Kingdom Generally ACpIed Accounting Praclicel. Company Law requires the Trustees to prepare financial statements for each financial perlod which give a true and fair view of the Charity's financial activities during the period and of ils financial positM)n al the end of the period. In preparing these financial stalemenls, the Trustees are required lo.. Select suitable accounting policies and then apply them consistently.. Observe the methods and principles in the Charities SORP 2019 IFRS 102}; Make judgements and estimates that are reasonable and prudent.. Slate whether applicable UK accounting standards and Statements of Recommended Practice have been followed, subject lo any material departures disclosed and explained in the financial statements., Prepare the financial slalemenls on the going conrn basis unless it is inappropriate lo presume that the Charity will continue in operation. The Trustees are responsible for keeping accounting records that dis¢105e with reasonable accuracy Ihe financial position of the Charity and which enable them lo ascertain the financial position of the Charity and lo ensure that the financial statements comply with the Companies Act 2006 and with the Memorandum and Articles of Associ31ion. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and deteelion of fraud and other irregularities.
The Oxford Evangelical Pastorate Report of the Trustees leontinued) for the year ended 30 September 2023 Risk Management The Trustees have wnsidered the major risks affecting the Charity and consider that there are no risks of synificance. Financial risk is under control and is not significant. The Charity's assets are invested in a diversified portfolio of equities, funds, bonds and cash managed by an independent investment manager. Cash is a150 held in the Charity's current account. so it is unlikely that investments will have to be realised in disadvantageous circumstances with consequent adverse impact on the Charity. The Pastorate has a Safeguarding Officer. all trustees are required to have completed bas Di0san training, and Safeguarding is an agenda item at each trustee meeting. ObAectives and Activities The Charty seeks to promote a true and lively faith in Christ and a knowledge of dwine truth among students and other members of the University of Oxford. The principal focus of the Charity's activities is the community of poslgraduale students and researchers in the University. The Charity serves the postgraduate and research community and. Ihiough them, the world. The Charity employs a Chaplain who leads a ministry team seeking lo present the Christian Gospel lo this community, supporting poslgraduales as they learn how to live out a true and lively faith in an academic context. Achievements and Performance The Trustees and Council have continued to hold regular meetings during the year. Council meets al least three limes per annum, with the Trustees meeting as required and al least three times per annum. The Trustees and Council have undertaken a detailed review of the aims of the Pastorate and how they may best be met in the early decades of the twenty-first century. They have critically evaluated the process of govemance of the Pastorale with the intention of increasing transparency and designated lines of responsibility. Revd Dr Jonathan Brant was appointed as Chaplain in September 2008. On 31st August 2023 Revd Dr Brant moved on from this role to lake up the role of Dean of Research at Wycliffe Hall. Dr Bethan Wllis, formerly Associate Chaplain, took on the position of Acting Chaplain from 1st September 2023. The Trustees began work lo select a permanent appointrnent to be in place for the start of the 2024-25 academic year. The work of the Chaplain and the staff team is reviewed regularly at the meetings of the Council and by the Trustees. During the period of activity covered by this report the Chaplain, Acting Chaplain and staff team have continued lo serve the poslgraduale and research community of Oxford University through the following programmes and aclivilies.. Chaplaincy and Outreach: Postgraduate Student Welcome IPSW) With Freshers Fair having returned lo the Examination Schools for October 2022. in partnership with volunleeis from local churches and the Graduate Christian Forum, we handed out flyers for a number of welcome events including a Poslgraduale Welcome Dinner at St Aldales Church. and back by popular demand a cream lea for postgrads with spouses and families, a walking lour of Oxford, and a C.S. Lewis walk, featuring Sholover Hill. We were able lo host 250 for the Welcome Dinner and had to use an overfiow space because of high attendance post-COVID. Each tsble was hosted by current postgraduates or academics from local churches, and there was a short talk from a Christian faculty member about navigating Oxford successfully as a new postgrad. Many of those who attended were international, and of all faiths and none. Some come just thankful for the offer of a free me81, while others are seeking answers to their big questions about life and faith. Each year we are also aware that. for some. this may be the first time they have ever sel foot inside a Christian Church. stella Aldwinckle Series: In post for a remarkable 25 years from 1941 to 1966 - Stella Aldwinckle was the first Pastorate Chaplain to women students. One of her most notable achievements was the founding of The Socratic Club. Established in response to student demand from Somerville College, she asked C. S. Lewis to be its first President, whilst she worked behind the scenes as its Chair. The Club quickly became one of the most vibrant forums for religious debate in tsventielh-cenlury Oxford. Inspired by Stella. and her friendship with Iris Murdoch. we
The Oxford Evangelical Pastorate Report of the Trustees {continuedl for the year ended 30 Septernber 2023 established this series of discussion events for postgraduates and early career researchers promoting conversation among those of different research inleresls, and of all faiths and none. on key themes relating to philosophies of life. In June 2023 the Pastorale hosted the second annual seminar in this serie5. The event, 'Beyond Ourselve5.' wonder, awe and transcendence via the art of John Ruskin,, was held on 16th June al Sornerville College. Discussion was framed by our invited speaker Revd Dr Joanna Collicut. Clinical Psychologist and Theologian who introduced Ruskin's work in the light of psycholcrfJical understandings of wonder, awe and transcendence in human life. Flourlshlng Llfe: A partnership beeen the Oxford Pastorate and St Clemenl's Church in Oxford, this project continued to grow church engagement amongst those in their 20s and 30s and offer a space to support this generation's mental and spiritual health. In response lo renI research about young aduks feeling directionless, Conrned about the climate crises and justice issues, and not feeling hopeful about the future of the world, Flourishing Life offers young adults in Oxford of all faiths and none an open space to explore big questions they have about life with one another. A range of regular community event5 were held, including book clubs, walking groups, and film nights. Reaching up lo 30 young adults each meeting, these events started in the Autumn of 2021 and completed at Easter 2023 In May 2023 the Pastorale hosted a ministry roundlable lo share learning from this project, attended by 25 invsted College Chaplains and ministry leaders. with Sl Aldates supporting this event. Dr Bethan Willis, Associate Chaplain at the Oxford Pastorate, led the project with the Revd. Dr Joanna Tarassenko. Curate al St Clemenvs, assisting in the early phases. The project was funded by an 18-monlh giant from Oxford Diocese's Development Fund. In Trinity 2023 the work continued with the Pastorale hosting a monthly reading group. There is an intention lo develop a sustainable pattern of similar events over the coming years. Socratlc Happy Hour: The Oxford Pastorate supports an initiative with similar aims and ethos to the Socratic Club, discussed above. The Socratic Happy Hour - motto. Friends don't let friends lead unexamined INes' is a gathering for poslgr8duate students in Oxford who are seeking civil and convivial ¢onversations about life's biggest questions. These conversations were started in New York in 2015 by Associate Chaplain David Williams, when a small circle of friends who disagreed deeply about life. the unnterse, and everything discovered that talking with each other about our differences and our doubts, our questions and our convictions was a lot more interesting than talking about the weather. Questions addressed recently have included. If there is no God, are all things pemilted? Does Religion Stifle Science?.. and 'Failh. Science and Other ways of knowing,. The Chaplalncy Team. The Oxford Pastorale selves a remarkable communty at the cutting-edge ot their disciplines and with experience and expertise across a range of subjects. We are fortunate that many called and gifted ministers are willing to join us in serving this lalenled, international community. We are grateful for the extrptional team and Continue lo benefit from secondmenl agreements with other ministries and from self-supporting chaplains. In 2022 the Pastorale was able lo sponsor Daniel Weninger to join us on a Religious Worker visa. contributing lo special projects as part of the Pastorate team.
The Oxford Evangelical Pastorate Report of the Trustees {contlnuedl forthe year ended 30 September 2023 Year-long fomation and learning communities: Christian Leadership and servi offers a year-long programme of community, mentoring, teaching and prayer for postgraduates leading inilialives in Oxford or likely lo be in future leadership positions. In 2022~23, 8 cohort of 10 students participated. led by the Chaplain and Associate Chaplain, Kay Rumford. Guest speakers included.. Revd. Glenn Nesbill and Lizzy Nesbitt {St Ebbe's Church and headleacher of Emmanuel School. Oxford).. Dr Cathy Ross and Dr Steve Ross {Lectur in Mission at Regent's Park College, Oxlord and GP)., Dr Kaly Granville-chapman (Wellinglon College and Character Project)., Dr Jane Jerrard {educalionalisll,' and Revd. Alex Pease (vicar and lawyer). There are now more than 120 alumni of the programme dispersed around the world and at work in academia, business, charities. medicine and church leadership. Christians in Academia offers a year-long prograrnme of community, mentoring, leaching and prayer for postgraduates and early-career researchers exploring a call or actively pursuing a career in academia. In 2022-3. 12 students participated in a group led by Dr Bethan Willis, and Profes59r Lorna Smith of St Hilda's College. University of Oxford. Christian Academic guest speakers were drawn from the University of Oxford and beyond. Partnership with Developing a Christian Mind: The Pastorate has a close working partnership with Developing a Christian Mind IDCMI, which provides 0 conferences each year for postgraduates and academics lo encourage the integration of faith and intellectual life. Oxford University academics led DCM while the Pastorale provided contracted staff lo coordinate the conferences, mobilise students and boost participation. In 2023, the two Developing a Christian Mind conferences are Tunning al fvll capacity again post-COVID. Christianity & the Life of the Mind Conference took place on 27th and 28th January in a new venue, Jesus College's Digital Hub. with 122 attendees. The Seeking Wisdom Conference took place on 17th and 18th March al Magdalen College with a dinner at New College and 124 attendees. Both conferences featured new faculty speakers and the January conference included dinner within faculty homes for every attendee. and attendance of a delegation of faculty members and ministry partners from MIT, Harvard, and UNC Chapel Hill with the aim of replicating the event in Boslon, MA and Chapel Hill, NC in the USA. Partnership wlth the Global Faculty Inltlatlve: In 2022-23, the Pastorate continued to develop ils partnership with the Global Faculty Initiative. a project that seeks lo promote the integration of Christian faith and academic disciplines by bringing theologians into conversation with scholars across the spectrum of faculties in research universities worldwide. The Pastorale partners with the Faculty Initiative in much the same way that it partners wlh DCM in providing administrative and mnagement support for the busy academics who lead the programme. In addition, the Pastorale team provide expertise in the production of study guides and other materials, and in organising and leading in-person and online Glob81 Faculty Initiative events. In 2023 the first series of the Global Faculty Initiative podcast was released, hosted by Asso¢iate Chaplain, Dr Belhan Partnership with the Oxford Character Project: The Chaplain Contnued to serve as the Founding Director of the Oxford Character Project and was seconded one-day-per-week to the Faculty of Theology and Religion for this purpose. In addition lo some management responsibilities. the Chaplain facilitated one of the Global Leadership Initiative cohort streams, supporting poslgraduale students of any or no religious faith as they seek lo develop character and grow into the wise Ihinkeis and good leaders the world needs.
The Oxford Evangellcal Pastorate Report of the Trustees (continued) for the year ended 30 September 2023 Partnershrp with Baylor University The Chaplain acted as consultant to Baylor University's 'Chrislian Study Cenlres and Character Formation.. A community of pracllce lo cultivate virtue5 of the heart and mind, research project, Iravelling lo the Slates al inletvals to contribute to this. Financial Revlew and Reserves Policy The total income raised during the year was £166,396 12022.- £118,668) and expenditure was £172,440 {2022'. £146.3041. After including market value losses on investments, realised and unrealised of £45 663 12022-. losses of £128,150), the deficit from unrestricted resetves was £66,886 {2022.. deficit of £153,588), with £nil12022'. nil movement} on designated funds, and a surplus of £15.179 12022.. deficit of £2,198) on restricted funds. The charity holds funds for future operating requirements. At 30 September 2023, the charity held £1,224,114 12022.. £1,291.000} in unrestricted general funds. The level of unrestricted reserves held is sufficient to cover the budgeted operating expenditure for the foreseeable future. Public Ben9fit The Trustees have complied wth their duty to have due regard lo the guidance on public benefit published by the Charity Commission in exercising their powers and duties. The Charity works to promote a true and lively faith in Christ and a knowledge of divine truth as held by the Church of England. Ils advancement of the Christian faith is con51Stenl with the promotion of a positive moral and ethical framework demonslraling that Christian faith has a beneficial impact on society particularly through the cullivalion of virtue in postgraduates with the aim of developing good leaders and wise thinkers. While the primary focus of the Charity's beneficial activities is on student members of the University of Oxford, the extent of the benefit is experienced more widely through the interaction of students. academics working in the Unniersity, Trustees and members of Council with wider society. This is achieved, for example, through public lectures addressing topics of contemporary social relevance. through programmes facilitating the integration of international students into British society, and through partnering with other national and international institutions in the delivery of the religious- academic- and ¢haracler- focused programmes listed above. The expectation is that growth in Christlan discipleship amongst students of Christian faith, and growth in practical wisdom amongst students of other or no religious faith, will help Oxford University poslgraduales lo develop the integrity and character which will equip them to be more effective leaders across many fields in 811 parts of the world throughout their careers.
The Oxford EvaTrgelic•l Paslorate Report of tho Trustees letlinU#d1 lor lh• y••r •nd•d 30 S•pi•mb¢r 2023 Plan8 lof Futur• P•flods Sirico the dpptsintmeftt of a Cbaplain In September 2008 Ihe Ch8rrty'$ focus has been on the promo1K ol Ihe Christian lailh among the pos19". 8duate and rÈ5earch c0rnrwny of Oxford Unlvorsity. This work wdl continuE lea by Chaplain and a loam comprisèd ol As$71e Chaplain$. Pro9tarnme Coordinal¢Y5 8niJ an Adntrat0r. Theie continue 10 be a focus on pe¥8onal conlact by Ihe Chaplain and hts team with Poslgrodugie students". and on the orgBnisatiw ol 8Wtnl$. bnOn¢0I11 Of collatratn wrth Ihe Oxford ¢4Y<tTe chLFrches. Ihe Graduale chrn Fwm in the UnNersrty, il chaplains of Colleges and other Cal Ofg4nwiK)ns. We afe continuing lo devebp our funoing partner5bips lo resoLtrce thè growtng missK)n and mintry. In 2023, In 3ddrtKJn ID partnerships Wnth The Faculty ol ThY & R•li9Ktn ai Oxford Universty. f>evelopa79 a Chiislian Mind. The Gththl Faculty 1nrtrye. and Baylor Uni¥eTrty Ihe work has bèen supported by individu81s. l¢x41 ¢hurchp5. Christl8n 50c>?lTre5. and Small fur)d$ We G¢)nlinuèd running developwl campavJns over tP summer rnonlh5. èncouragirig e¥slin9 financial donors to Incre8$e their givin9 and Invrting n8w )nS io commd Io g1)fing lo the Oxford P8siorate The resutts ol ttte 2023 eBmpap3n hw been the Iwifful lo datè. ratsing lèvel of INe-gwirvJ from Indsviaual ¢Jonors io over £15,oryJ per annum Related parties Characier Sèrwres I Imrtert ¥•ths inc(vrsorated on 5th MBfch 2019 as 8 tltholty ownéd sUtrAx1ty ol thi$ charty 11 was d6so*rfed on 13Y, June 202i. Small company oxemptiong Advaniagt has taken In Ihe piepafatth of thLS reFAYt ol special exempt5 applKablt EO small comp8nies This report was appro¥gd by th• Tru6too6 on 8" Jung 2024. John Tranler Trnsteè
The Oxford Evangelical Pastorate Independent Examiner's Report to the Trustees of The Oxford Evangelical Pastorate I report to the charity Iruslees on my examination of the accounts of the charity and the group for the year ended 30 September 2023 which are set out on pages 8 to 19. Respectlve responsibilities of trustees and examiner As the charity trustees land also ils directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordan with the requirements of the Companies Act 20061'lhe 2006 Act,). Having satisfied myself that the accounts of the charity and the group are not required lo be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examinab.on of your charity's aceounts under secb'on 145 of the Charities Act 2011 {'Ihe 2011 ACV). In carrying out my examination I have followed the Directions given by the Charity Comrnis5ion under *clion 1451Sllb} of the 2011 Act. Independent examinerfs ststement I have completed my examinatn, I confirm that no matters have come to my attention in connection with the examination giving me cause lo believe that in any material respecL' accounting records were not kept in respect of the charity and the group as required by section 386 of the Companies Act 2006,. or the accounts do not accord wrth 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 fairf 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 Slalement of Recommended Practice.. Accounting and Reporting by ch8rib.es (applicable to Charities preparing their accounts in accordance wtth the Financial Retx)rting Stsndard applicable in the UK and Republic of Ireland IFRS 10211. I have no cOnrnS and have come acros$ no other matters in connection wlh the ex8minalion to which allenlion should be drawn in this report order lo enable a proper understanding of the accounts lo be reached. Andrew Rodzynski FCA Wenn Townsend Chartered Accountants Oxford . 2024
10 u) r 0>
a) 00} r Q CN o DJ o 0
(J
rhe Oxford Evang•llcal Pastoritfj Company number: 7161962 8•lonce She as at 30 Sèptemb8r 2023 Not• 2023 2022 IRo&t•t8d Flxèd A$vJts Tangib fiKed 8s5ag Invtsitments 582.508 633.011 582 512 714.816 Currnnl Asset Bank current Bccount PTopaid eXFens Accrved Ineon AcLounts rec&ivable Other debtors 1.215,519 1,297.328 27.403 921 9,181 1.532 6,953 5.838 576 4,448 6563 U•bllhl• Cr&Yilors - ¥nounts lallffig dl wthin one yew 45,990 17.425 10 119,4651 121,0021 Nel Cufr•nl AsMt 26,525 13.5771 Total A$s•is1•4 ¢urr•nt Llabllltl•s 1,242,044 1 293.Ifj1 Thè Funds ofthe CharSty Unreslricied foserves Re5[le& reserves 1.224,114 17.93 1 291 000 In¢orne fundg cBrrl*d fonvard 1.242.044 1 293,7S1 In apwow.n9 tttesp fina.-i¢ial statemon15 a8 Iruslee5 oe the ccYnpHny the giotsp we hetetsy con.lrm th81 for the peTrDd st£ied abo¥e the comogny and the group was enÉiifèd to the exenylion conferred by Seciion 477 01 the Companies Act 2aC6. Ihal no notte has tseen dep05rted at Ihe regjstered off.ce of Ihe ¢trnpany pur5uanl to Section 4 16 rw'Jes4ing ihw an audrt be coTrducte(I for Ine er)dfJd 30 Seplembef 2023 800 Ihat we acknowledge our responsibilrte5 for i. ensunng that the cunpany and tfiè group keeps accountiftg rEcords whh comply wrth S¥xtJDn 386 arsd li prgpanng fina131 slalemeiits wh£h givè a IrL•e arKI fair view ol the 61aiQ ol a4JaJ15 01 the company ano Ihe group as ai ihe end ol Ine financrdl and L)1 Its sury)'.u$ oi dtl£il loi th• yÈaf then ered in 8cdance with the requirernenls ol 393 and whh herWiSe comply with Ihe provLsff>ns ol the Companiès Act rolatmg io financJ&l stsiemenis, so far as applr8ble lo the company ond Ihe group Tnc-.se linancial s',aten'enis afe orepared In accofdanco wrth the provistons applicable lo comp8nie$ 5'JtyLrl to the 5rnall ¢omp&nie$' rpgime {bi Tnp. finar¢ial $iatements (M) pa988 8 to 19 wfrre approved by the Tru¥lee$ on Junf 20?4 ond $4n&J on 14e r hl1 by". John Tranler Trustee Th• nol•s on pag•8 10 10 19 forni part ol ihts¢ Kcouni$
The Oxford Evangelleal Pastorate Notes to the Accounts for the year ended 30 September 2023 Accounting Policies Basis of Preparation The Oxford Evangelical Pastorate is a charitable company limited by guarantee In England.11 has no share capital and in the event of a winding up. the liability of each member is limited lo £1. The charity constitutes a public benefit entity as defined by FRS 102. The financial slalements have been prepared in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 102}, Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wrth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 second edition issued October 2019. the Charities Act 2011, the Companies Act 2006 and UK Geneially ApIed Accounting Practice. The accounts have been prepared under the historical cost eonvenlion with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policy note. The significant accounting policies applied in the preparation of these financial statements ale set out below.. 2022 Restatement of figures During the preparation of the 2023 accounts, il was noted that £55,725 of income CogniSed as reslricled grant income in the year ended 30th April 2022 was in fact unreslricled project income. The accounts have therefore been restated to reflect this reallocation of income and expenditure beeen funds. The total year end balance of funds for the year ended 30th September 2022 was not affected by this restatement. In addition, the headings under expenditure on charitable activities have been reviewed lo ensure they more accurately reflect the expenditure of the charity- Exemption from preparing group accounts The company was part of a small group in the year. The company has taken advantsge of the exemption provided by section 399 of the CompanEs Act 2006 and has not prepared group accounts. Income Recognition All income is included in the SOFA when the charity is legally entiued to the income, il is probable that the income will be received and the amount of income receivable can be measured reliably Income is included gross. The arnounl credited to the income and expenditure account in respect of gift aid donations includes the amount of income tax recoverable. Grant income is recognised as re¢eivable SLtbjecl to fulfilment of any associated condition5. Vwhere conditions have been met or are likely to be nEI, grant income is recognised in full. No amount is included in the financial statements for volunteer time in line with the SORP {FRS 1021. Donated services are considered immaterial to the accounts and a not considered practicable to fair value, therefore they are not recognised in the financial Statements. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to the expenditure, il is probable that a settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. Charitable activity costs are those costs incurred directly in support of expenditure on the objects of the Charity. Governance costs are those incurred in connection with adminislralion of the Charity and compliance with conslitulional and slatulory requirements. Grants payable are included when the recipient has a reasonable expectation that they will receive a grant and when any conditions attached lo the granl are fulfilled. 10
The Oxford Evangelical Pastorate Notes to the Accounts (continued) for the year ended 30 Septembei 2023 continued Accountlng Policles {continuedl Freehold Property This is a propety used in the work of the Charity and is shown at ils historical cost. No depreciation Is charged on the freehold property as il is the Charity's policy to keep the freehold propety in good condition and the current value is in eXsS of the cost figure shown in the accounts. Freehold buildings are maintained by a programme of repair such that the residual value is at least equal lo its book value. Having regard to this, il is the opinion of the trustees that any depreciation charge required by the Companies Acl 2006 would not be material. Fixtures, Fittings & Equipment and Computer Equlpment Depreciation is provided on fixtures, fittings and equipment so as to write off the cost. less any estimated residual value, over the expected useful economic life on a slraighl line basis over five years. Depreciation is provided on computer equipment so as lo write off the ¢ost, less any estimated residual value, over the expected useful economic life on a straight line basis over three years. Investments Investments are shown in the accounts at their current market value al the balance sheet dale. The SOFA includes the nel gains and losses arising on revaluations and disposals throughout the period. Debtors and creditors rg¢eivable I payable within one year Debtors and creditors with no slated interest rate and receivable or payable withSn one year are recognised 2t transa¢tion price. Any losses arising from impairment are recognised in expenditure. 1.10 Pension$ Contributions payable for the period are charged in the income 2nd expenditure account The charity contributes to a defined Contribution scheme for ils employees. The Oxford Pastorate has employees in the Church of England Funded Pension Scheme ICEFPSI which is a defined benefit scheme. This scheme is in deficit and so all members are required to make additional annual contributions towards reducing this deficit. However. the Pastorale is defined as a "Minor Responsible body., which implies that we have no material long term liability when a minor body ceases lo have active members it pays a nominal debt of £100 with the remainder of the section 75 debt being apportioned to the major bodies. Fund Accountlng Unrestricted Funds These are funds which can be used in accordan with the charitable objects of the charity at the discietion of the Trustees. Restricted Funds These funds a subject to specific conditions imposed by the donor or by the temis of an appeal. these conditions being legally binding upon the Trustees. Designated Funds These funds are unrestricted funds whith have been allocated for future expenditure for 8 specific purpose by the Tru31ees. 11
The Oxford Evangellcal Pastorate Notes to the Accounts (continued) for the year ended 30 September 2023 . conlinuod 1.12 Irrecoverable VAT The Charity is not registered for VAT and hence is unable to recover VAT on expenditure incurred. All costs are therefore shown inclusive of the associated input VAT. 1.13 Going Concem The financial statements have been prepared on a going concern basis as the trustees believe Ihal no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. Donations and legacies 2023 2022 IRestat¢d) Donations Grants 41.814 25,757 17,358 12.420 67,571 29,778 Charitable activities 2023 2022 IRestatedl Project income Reimbursed expenses 67.226 3,836 60,367 1.531 71.062 61,898 Raising funds 2023 2022 {Restatedl Fundraising Costs Investment management costs 165 7,231 227 5,651 7,396 5.878 12
The Oxford Evangelical Pa$toTote Notes to the Accounts {continuedl forthe year ended 30 September 2023 continued Charltable Actlvltles Unrestricted Designated Restricted Funds Funds Funds Total 2023 Staff costs Isee note 6) Propety costs Property repairs Insuran Publicity and website IT costs Venue hire Food and drink Travel and accommodation Books and resources Team expenses Governance costs (note 51 Office costs Grants payable Freelancers and honoraria Bank charges and forex losses Sundries 119,496 4,354 3.925 123,421 4,354 1.505 697 1,310 1.024 4,346 2.991 393 575 11.654 3.154 1.505 1.229 1,310 3.003 5.969 3.013 393 575 11.654 3,665 900 2,393 1.408 252 532 1,979 1,623 511 900 500 1,893 1.408 252 155,052 9,992 165,044 Grants payable.. £100 grants paid lo students in the Christians in Academia whort towards the cost of study materials. 13
The Oxford Evangelical Pastorate Notes to the Accounts (continued) for the year ended 30 September 2023 . continued Unrestricted Designated Restrlcted Total Funds Funds Funds 2022 (Restated) (Restated) (Restated) IRestated} Stsff costs {see note 6) Propety costs Propety repairs Insurance Publicity and website IT costs Venue hire Food and drink Travel and accommodation Books and resources Team expenses Governance costs (note 5} offi costs Grants payable Freelancets and honoraria Bank charges and forex losses Sundries 92,743 4,665 459 2.106 1,071 1,241 1,803 2,862 623 605 564 10,708 3,372 11,703 104,44S 4.665 459 2,106 1,781 1,385 2,209 4,404 640 605 564 10,708 3.412 710 144 406 1,542 17 40 1.620 1,011 55 1,620 1,011 411 356 125,508 14.918 140,426 Governance Cost9 Unre$tri¢ted Restrlcted Funds Funds 2023 2023 Total Unrestricted Restricted Total Funds Funds Funds Funds 2023 2022 2022 2022 (Restated) (Restated) {Restated) Examiner's fees Payroll & pensions fees Trustee & council meetings Fines & penalties 8,220 2,271 913 250 8,220 2,271 913 250 7.893 1,953 862 7,893 1.953 862 11,654 11.654 10,708 10,708 14
The Oxford Evangellcal Pastorate Notes to the Accounts Icontinued) forthe year ended 30 September 2023 continued Staff Costs Unrestricted Restrlcted Funds Funds 2023 2023 Total Unrestrlcted Restricted Fund$ Funds Funds 2023 2022 2022 (Restated) {Restat¢d} Total Funds 2022 Gross wages & salaries 102,692 Social security 2,665 Pension 14.139 Accommodation 4,354 3,188 105,880 2,971 14,630 4.354 75,708 2.058 14,977 5,124 9,287 711 1.705 84,995 2,769 16,682 5,124 491 123,850 3,925 127.775 97,867 11,703 109,570 There was an average of 6 employees in the year ended 30 September 2023 {2022". 41. There are no staff earning over £60,000 {2022.. None). Trustee and Key Management Porsonnel Remuneratlon The Iruslees neilhef reTrived nor waived any remuneration during the period12022.. £nill. No trustee received any reimbursement for out of pocket expenses incurred {2022.. £nil). The management of the charity is undertaken by the trustees and the Chaplain. The cost was £40,326 12022. £43.9901 15
The Oxford Evangelical Pa$toiat¢ Notes to the Accounts (eontinuedl for the year ended 30 September 2023 . continued Tangible Fixed Assets Freehold land & buildlngs Computer Equipment FFE Total Cost or valuation At 1st October 2022 Additions 581,926 800 532 569 583,295 532 At 31 st September 2023 581.926 1.332 569 583.827 Depreciation At 1st October 2022 Charge for the year 556 422 227 114 783 536 Al 31st September 2023 978 341 1.319 Net book value al 1st October 2022 587,926 244 342 582,512 Net book value al 31st September 2023 581.926 354 228 582.508 No depreciation has been charged on the freehold propety as the Charity's policy is lo maintain ils property in good condition. The Iruslees carry out impairment reviews and the estimated market value is not less than ils nel book value at any given time. 16
The Oxford Evangelical Pastorate Notes to the Accounts Icontinuedl forthe year ended 30 September 2023 continued Investment Assets 2023 2022 Investment in securities Cash held for investment purposes 618.301 14.710 692,011 22,805 633,011 714.816 Cost of investrnenls in securities 599,449 665,248 Market value at 1 October 2022 Additions Disposal proceeds Gainslllossl on investment assets 692,011 837,844 34,325 61.527 162.3711 179,210) {45.6631 {128.150} Market value at 30 September 2023 618,302 692,011 qo. Creditors 2023 2022 Ac¢ruals and deferred income Soci81 security and other taxes Trade creditors Other cieditors 14,913 2.385 1.927 240 18,975 736 498 793 19,465 21,002 Deferred income comprises donations received in advance for chaiitable activities taking place in 2023-24, and grants reiVed for the 2023-24 academi¢ year. 17
The Oxford Evangelleal Pastorate Notes to the Accounts (continued) for the year ended 30 September2023 continued 11. Statement of funds Asat1 October 2022 Income Expendlture (incl galns on (incl loss on investments) investments) Transfers Between Funds Asat30 September 2023 Unrestricted funds General 1,291,000 141.225 {208,1111 1,224,114 Restricted funds Flourishing Life Postgraduate Sludenl Welcome DCM Bursary Study Grant Doris Field Trust Moore-Wlliams Hymns A&M 3.925 5.400 817 1,029 500 12.500 1.000 13,9251 13.538) 2,751 4,613 817 (1.0291 {5001 12,500 (1.000) Total iestrieted funds 2.751 25,171 19,9921 17,930 Total funds 1,293,751 166,396 {218,103) 1.242,044 Asat1 October 2021 (Restated) Income Expenditur¢ Transfers Asat30 linel gains on Ilncl loss on Between September investments) investments) Funds 2022 (Restated) (Restated) (Restated) (Restated) Unrestricted funds General 1,444,588 105,948 1259,5361 1,291,000 Restricted funds Flourishing Life Virtues and Vocations Postgraduate Student Welcome 69 2,214 2,666 9.420 19,489} 12,2141 13,2151 3,300 2,751 Total restricted funds 4.949 12,720 114,9181 2,751 Total funds 1,449,537 118,668 1274,454) 1,293,751 Flourishing Llfe: A project in partnership with St Clements Church, funded by a grant from the Diocese of Oxford's Development Fund. Postgraduate Student Welcome: An annual programme of welcome events for all poslgraduate5. The charity partners, and reiVeS donations from. local churches and Christs'an organisations to run these events. DCM Bursary: Grant to enable students to attend future DCM COnferenS. Study Grant: Grant lo enable students in the Christians in Academia cohort lo receive £100 each towards study materials. Any surplus was allowed lo be used towards the subsidised cinema lickel eo$ts of the screening of'GocxJ' in Trinity Term. 18
The Oxford Evangelical Pastorate Notes to the Accounts Icontinuedl for the year ended 30 September 2023 - continued Dorls Fleld Trust: Grant towards monthly costs of desk hire for the Administrator. Moore-williams: Donation for Alissa and David Moore-wlliams to be held for future use. Hymns A&M: Grant towards the costs of the Stella Aldwinckle Brunch held al Somerville College on 16th June 2023. 12. Analysis of net assets between lunds Fund balances at 30 September 2023 are represented by: Unrestricted Restrleted Funds Funds Total 2023 Fixed assets Current assets Current liabilities 1,215,519 25.710 117,1151 1,215.519 20,280 45,990 12,3501 {19,4651 Total net assets 1,224,114 17,930 1.242.044 Fund balances at 30 September 2022 are represented by: Unrestricted Restrictèd Total Funds Funds 2022 (Restated) (Restated) {Restated) Fixed assets Current assets Current liabilities 1.297.328 12,924 119,2521 1.297,328 4,501 17,425 11,7501 121,002} Total net a$$ets 1,291.000 2,751 1,293,751 13. Related Parties Professor Adriaan Louis, Trustee, was 8 member of the SMT of DCM, a donor organisation. DCM paid the charity £18,143 during the year to administer two DCM Conferences 12022.. £19,573) and reimbursed expenses. Mr John Tranler, was a Trustee of St Aldales PCC, 8 donor organisation. The Oxford Evangelical Pastorale paid St Aldates PCC £2.602 during the year to run the Postgraduate Student Welcome Dinner. During the year the Trustees donated £6,62012022.. £1,720) without conditions. 19