Charlty réglstrallon number 1145408 THE SOLDIERS OF OXFORDSHIRE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 THE SOLDIERS OF OXFORDSHIRE TRUST LEGALAND ADMINISTRATIVE INFORMATION Trustees Mr5 mari￿Jane Bamett Mrs Heather Carter Mr Thomas Johnstone Mr David Shouesnmth (Chairman) Mr Henry Spilberg Lt Cd Reld Richard Belbln Mr James Seddon Mr Mike Montagu Dr ￿ndelI Peters BrigadierAnthony HarkiNJ OBE (Appointod 15 July 2024) Charlty number 1145408 Rogl•tsrod offlc• SOFO Museum Horrlg)n'$ Lane WocAlstock Oxlordshire OX20 ISS Mus•urn dlroctor Mlss Ursula Coro)rdn Ind•p•nd•nt •xamln•r Gravrta Audit Oxford LLP First Floor, Park Central 4041 Park End Stre8t Oxford OX1 1JD Bank•r8 88rdays plc and The C￿perath Bank Kl¢ Sollcltor• Blaké MoDJan Seactyjrt Ttmer West Way Botley Oxford OX2 OFB THE SOLDIERS OF OXFORDSHIRE TRUST CONTENTS Trustees. report Independent examlnerfs report Statement of finan(i81 aclTrviti89 Balaneo she8t Notes to the Ilnanclal statements 8-19 THE SOLDIERS OF OXFORDSHIRE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The t￿￿tee$ wesent their amual report tofftr the Una￿lited ffinancial statements of The Soldiers of OxfoTdshire Trust fortr￿ year end8d 31 March 2024. The Trustees c#)nfirni that the Annual RoFwNI end the finanlial stslements of th8 tharity compty with the cuff8nt statutory requirements, the requirements of the charitys goveming Lkjcurrent and the provisbons of the Statement of Recommonded Practi(* ISORPI, ap￿￿'ca￿￿ to charitiés prepannp their accounts in accordance wth the Financial Reportlng Standard 8pplicab18 in the UK and Republic of Ireland (FRS 102) leffeclive 1 January 2019). Objectlves and actlvltles Objocts and Alms The charity's oblocts are to promote grealer awareness and urKlerstanding of hlstory of conftict as tt has affected Oxfordshire by th• •stablishm¢nl and Maintenar￿ of a museum. ￿ring for the artefacts belonging to tho charfty and to the contrbutory trusts {the Royal Green Jacknts Trust ar¥J the Oxfordshire Yeomanry Trust), and plannlng fLrture exhlbltlons. educaton and outreach prcNJramm8s. 0bleGtlV￿, 8lr•tOgles and Acllvftl•• The displays in the main gallaries provKle OPE￿lunitieS lor visitors to leam MO￿ a￿ul the mihtary henlage of the ¢¢)unty. They 8re enhanced by )*lsiling and tempor8ry exhlbitions Irom With￿ the collections or k)aned from other hthtage organksatk>ns. New actlvlti88 through publk engagement are used Ihroughoul the year to attract new audlen¢e8 and ￿den the musoum's appeal. Audlenco devekipw￿nI is key to divernSfylng the storfes tthl at th8 museum and attracttng new parbierships. Grdnl funding Is used to support individual exhibitksn and acbvtty rAanniry. The museum bs Improvlng Its dlgltal capaclty as well as Its cataloguing lo Improve research and leamin9 OPFortunitles. Volunteorn The charfly contlnu8S to benefft from 8 growln9 ban¢J ol d8duted vc4unteers. They contrlbute to the nN)re cerebral glde of our work and asslst In research about prevlous members of the refvnts (a source of kncomel, and care of lh8 cclloCtlon8, 8ducation and OLrtroath. Achiavements and perforniance The main sources of Income tr tho musoum aTr admission fees, onllne tslks a friorrfls programme, sales throwJh Ihe shop and onlina. Granl income for specific projects is scMJght throwhout lh8 y8ar. Financial revlew Inc(uno and •xpendliure The In￿Me to 31* March 2024 was £126.384 and oirtgoing expenses less depredatlon were £356,068. Th8 Tmst has substantial funds of £3.229.805 of whi¢h £2,255,622 is c8Prtahs8d in thè twlding and 8qu1pff￿nt. Golng concgrn After making appropriate erNuirie8, Ihe Trnstee8 have a reasonat4e eYpOctati￿ Ihat Ihe charity has adequate resources to continue in operabon for the foreseeable future as a result of substanttsl reseNes and unrestdcted funds being availab￿. For th1$ reason, they continue to adopt the conc￿ basis in prep8rirvJ the finan¢ial statements. THE SOLDIERS OF OXFORDSHIRE TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 On 31 March 2024 the d￿rity held the folkjwirg Reserves: Unrestricted funds: - Desb3nated {Tanglbl8 Flxed Assets) £2.255,622 - General £53,340 Restricted Funds £11,062 Endowm8nt Funds £909,781 Reserves al 31 Mar¢h 2024 £3.229,805 P8n8lon$ The Trust complies with legal pens1c￿ requlrements. Inv•8tment Pollcy The Endowment Fund has bean rntained in the CCLA COIF Invegtment Fund. Tha arnlowm8nt was invested in th8 autumn 2017 and Is expected to generdte a relum In Ilng wlth ifflatkjn and has 80 far p8rfOrn￿d 88 expect8d. Rlgk8 The major financial risk is the continuiro lack of stable income sources. However th8 expendabla endowmènt provides a v&ry signlflcanl buffor against thls for a few y8ars. The Truste8s conlinu8 to focu$ on this Issuo and look to ways to reduce the gap be￿een income and expendibjre. The Truslees 8re Ur￿re of any Irregul8rfUe8, INludlng fraud, involving the management of the ¢h8dty, or of any inslanc*s of actual or possible non-comFdiance wrf(h laws. regulations or agreements that migm result in th8 charity sufferlng slgnfficanl penaltles or other boss. The ¢harily has policles in respect of a¢xess, equal opportunltles, health and safety, education, claiming exp8n$e$, and acquisltlons and dl$pJsals. Public Benefit The Trust905 havo r8fwred to Ihe guidance provKled by thg Charlty CommissiM Publ￿ ben8fit when r8vI￿Ong the ¢harlty'$ alms and obigctiV8s and aro satisfied that the chaiity'$ a¢llrf&s are In line with that 9uidanc8. Structure, governance and management Constitution The Soldlers of Qxfordshire Twst was a chartt8bl8 Trust establkshed kn November 2011 and subsequentty registered as a company Ilmited by guarantee in January 2021. The charlty has established a trading company (Soldiers of Oxfoldshire Tradng Linil6d - number 071550271 to undartake certain trading activity for the Trust. Al profils from the trading company are Glft Aided to the TrusL THE SOLDIERS OF OXFORDSHIRE TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The trustees who seNed during the year ar￿ up to the date ol siwabJe of the financi81 staternonts were: Mrs MarievJane Bamett Mrs He8lher Carter Mr David Innes Mr Thomas Johnstone Mr ChTi5topher Laurence Mr David Shouesmith Ichaimwn) Mr Henry Spilberg Ll Col R&td Rkhard 8èbln Mr Jarnes Seddon Mr Mlke Montagu Dr Klndell PeteryJ BrigadierAnthony Harking OBE (Resigned 12 December 2023) (Reslgned 7 December 2023) (Apwintèd 15 July 2024) Method of Recrultment and Appolntm•nt or El•¢tion of Truste Trustees 8re e18Cted by the trustees. New trustees are drawn from ttM)se with a ¢onne¢tton to the fomier county regiments and units based in the county, from those wrth an interest in militsry hi810ry, from retired soldier8, from those who suppcrt the maintenanlx of the miltsry history of Oxfordshire and from local citlzens and business people. Trustees are inducted by brklngs from tho staff of the mu5eurn and from other Trustees as apwopdate. Details of the INst8es who seNed during Iho year are inchJd8d above. Membfrrn, Llablllty Each memb8r of the CIO undèrtakes to contn'bule to iha assals of tho chanty in tho 8v8nl of it b•irvJ wound up whilg they are a member. or vhthin one year after they cease lo be a member. Such amount as may be requlred. not exceeding £5 for the debts and liabilities ¢ontrathd t¢f(*e they ¢6ased to be a member. Manag•m•nt Thé managèm•nt of th8 trust is by tha Tru81e88 vkno d•lagata Somo rospe￿sibil￿ to committee8 or th8 exerAJtTve 188m of the Trust. There are two committees that meet regularfy und8r Tern￿ of Reference agreed ty the Board.. tt18 Finance Committee and the Fundrai%rvJ Committee. Th8 Financ8 Committee meets regularly to consKler financ￿1 and other matters which are then reported to th8 boar(l. The primary responslblllty of the committee is to monitor day to day perfomiance. the perfO￿an￿ of the Endowmont Fund arKI major risks. Tho Fundraislng Committee meets regulaty to Invesbgato sources of knding. Thelr primary alm Is to gvaluate sourcès of grants to enhance the museum exp8ri8nc8 Wh￿ is a gro*ing source of irKomo for th6 Trust Arrangomonts for settlng pay and r•mun•ratlon of key managoment perwnnel The remuneration of all Staff L8 sxopo*I by the Finance Commrttee and agr88d by the Board. The trustees, r8POrt was 8pprov8d by tho Board of Twsiees. omas Johnstone Trustee Data= .. 11-/o.. /J.¥................ THE SOLDIERS OF OXFORDSHIRE TRUST CRITCHLEYS INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE SOLDIERS OF OXFORDSHIRE TRUST I report lo the tnjslees on my examination of financial statements of Tho Soldiers of Oxford$hire Twst (the chanty> for the year ended 31 March 2024. Responsibilities and bas1$ of report As the trustees of the charlty you are reswnsible for the prep8ratMM of financial ststements In a￿[clance wrth the requSrements of the Chartues Act 2011 {th8 2011 Act). I report in respect of my 8xaminat￿n of tho ¢hariVs finanaal statements ￿rried out undw 88Ction 145 of the 2011 Act. In Garrying out rny 8xamination I have folowed all the applTrcable DtrecUw$ glven by the Charlty Commisslon under sectton 145(5Xb) of the 2011 ACL Indepandant examlnefs 8tatomènt Since the ¢harlty's gross income exceeded £250,000 ywr examinw rnusl ba a m8rnb8r of 8 body listed in section 145 of the 2011 Act. I confimi th8t l am qu81ified to underlake the examinatv)n because l am a member of ACA, whith 18 on8 of th8 li8ted bodies. I have ¢omrAetad my oxanwnation. I cfjnfi￿ that no matters ha￿ eom8 to my attents'on in connaction with thé examlnatlon glvlng m8 cause to be118ve that in any material respect: accountlng records were not kept In r9spect of the charity as required by 8ecUon 130 of the 2011 Act,. or th8 financial stslements do not accord wth those records," or thé financial ststom•nts do not comply with the applicable requir8monts wnceming the form and contant of accounts set out in the Charities (Accnunts and Reports) Regulations 2008 other than any r8quirem8nt that the accounts give a true and fair view which is nol a matter consldered as part of an independent exarninallon. I hav8 no concerns and have coma across no other matters in connection with lh8 examination to which att8ntion should be drawn In thls report In order to enable a proper urKlerstanding of Ihe financial slatements lo be reached. Gary Pready FCA Gravlts Audlt Oxford LLP First Floor. Park Central 4¢H1 Park End Street Oxford OX1 IJD Dated.. ......................... THE SOLDIERS OF OXFORDSHIRE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Current financlal wr Unrestrlcted R•strlctod Endowment funds funds nd8 2024 2024 2024 Total Total 2024 2023 me and endowm• Donations and kgacies Charilabla acb'wties Inv8slm8nts Other income 20.098 20.492 29.159 53.149 73,247 20,492 29.159 3.486 44,533 30,405 32,911 9,003 Total Incom• 73.235 53.149 126,384 116,852 endlturè on: Charitable acttvitles 360.623 52.545 413.168 299.360 Net galnsl{Ios8es) on investm 12 81.437 81.437 {43,8741 Not {out9olnglllncomlng rnsourc8$ b•for• translors (287.388) 604 81,437 (205.3471 (226,382) Gross transfers behveen fvnds 270.000 (270,OCw)) N•t rnovement In fund8 (17.388) 1188,563) (205,347) (226,3821 Fund balanc88 at 1 Aprtl 2023 2,326,350 10.458 1,098.344 3.435,152 3,661.534 Fund balanc•• al 31 Mar¢h 2024 2,308.962 11.062 909.781 3.Y29,805 3.435,152 The statemont of ffinanc4al aclivilies indudes all gains and losses recognised in the yoar. The statement of finanoial activities Includes all galns and losses recognised In the year. AJI Income and exponditure derive Irom continuing activitles. THE SOLDIERS OF OXFORDSHIRE TRUST STATEMENT OF FINANCIAL ACTMTIES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Pflor flnanelal yoar Unr•stri¢tsd Restrlcted Endowmant funds nds funds 2023 2023 2023 Total 2023 Incomè and ondowme Donations and legacies Charitsble acli)rib"es Inveslmant8 Other Incom8 33,600 30.405 32.911 9.CK13 10.933 44,533 30,405 32,911 9,003 Total In¢om• 105.919 10.933 116,852 endlture on: Charitab18 aclivlties 289.286 10.074 299,360 Net gainsl{10gses) on investments 12 (43,8741 (43.874) Net (outgolng)Iln¢oming resou￿5 bthirn transfers {183.3671 859 {43.874) 1226,3821 Gross transfers b8fvfftn funds 20.( (20.000} N•t mov•m•nt In lund$ (163.3671 859 {63,874) (226,382) Fund balan¢8s at 1 April 2022 2,489.717 9,599 1,162,218 3.661.534 Fund balances at 31 Mar¢h 2023 2.326.350 10,458 1,098.344 3,435,152 THE SOLDIERS OF OXFORDSHIRE TRUST BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Note8 Flx•d assets Tangl￿0 assets Investrn8nts 14 15 2.255.622 909.781 2.312,724 1.098,344 3.165,403 3,411.068 Currant ass•ts Débtors Cash al bank and In hand 16 5.512 65.374 10.625 30.832 70.886 41.457 Credltors.. amounts falllng duo wlthln ono yèar 17 16.484) (17,373) Net current assets 64.402 24,084 Total ass•ts1•88 curr•nt Ilabl 3,229,805 3,435,152 Capttol funds ndowmenl un en General endoN￿Trent funds 909,781 1,098,344 909,781 1.098.344 Expendable endowment 909,781 1.098.344 19 909,781 1.098,344 Income funds Restricted funds Unreslrtcted funds Designated funds General unrestricted fl￿d8 11.L 10,458 21 2.255.622 53.340 2,312,724 13,626 2,308,962 2.326,350 3.229,805 3.435,152 The finanrial slatwn8nts vmro approved by tho Trusteos on . .... oma$ Johnstone rustse THE SOLDIERS OF OXFORDSHIRE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 countlng pollclos Charlty Informatlon Tha soldiers of Oxfordshire Tfust is a charitabl8 incorporated organisabon in the Unrted Kingdcrtn. Th8 addross of th8 registered office is given in the chanty infornWK)n on pagg 1 of these financial statem8nts. The nature of the charitys operations and principal aclNities are camg for artefacts belonglng to the charity and contributory tnJsL8, and planning future exhibitions. 1.1 Accountlng convenllon Thg flnancial statements have been prepared In accordance wlth the charfty's [govomlng documgntl. the Charits'es Acl 2011, FRS 102 ￿h& F4ian¢o1 Reporbng Standard apF4icabl6 in the UK and Repubknc of Ireland. ('FRS 102-} and the Charili8s SORP "Accounting and Reporting by Charities.. Statement of R&Gommended Pr8Ctlce appllcable to ¢haTities preparlng thfrlr accounts In accordance wtth the Finan￿al ReFth'ng Slandard applicable in the UK and Republic of Ireland IFRS 1021. (8ffectiv8 1 January 20191. Th8 tharity is a Public Benefit Entlty as defined by FRS 102. The charity has taken advantage of th8 prOv￿lOnS in the SORP for tharit￿8 nol to prnpare a Stat8m8nt of Cash Flows. The flnancial ststements have departed from the Charities (A¢¢ounts arKI Rep)rts) Regulations 2008 only to the axtenl raquired to provido a and fair viow. This departure has involved fcllowng the Stalemont of Recommended Practs'ce for charltl8s applying FRS 102 Tathef than v8rsH)n of the Slatsmenl of Recommended Prathce which 1$ referred to in the Regulabons but ￿1¢h has 8ln¢e been wllhdrawn. Tha finanual ststamènts aro pwar•d in 8terting. thich 18 tho 1￿c￿l0n81 ¢￿rrencY of the eharity. IAonolary amounts In these financial stal8ments ar8 Tounded to the nearest £. The flnandal stateThnts have been prepared under th8 hlst(wlcel ojst conventbn. The prtnclpal acwunllng Fdicie6 adopted ar8 8et out below. 1.2 Golng conc•m At th8 tlm8 of approvlng the flnanclal statemenK th8 trustees have a reag)n8bl8 expoctallon that the ¢y)arity has adequate resources to contlnue In operath)nal exlstence for the foreseeable future. Thus tha tNstees conts'nue to adopt the going con¢em ba's of acu)unling in propanng tha f￿￿claI slalgments. 1.3 Charltable funds Unrestricted funds are aval1 able fix use at the discrel¥)n of the 1wstees in furtheranr* of their charitable objectiv&s. R8stricted funds are subject to SP8cific coThJtti(ms by donors or grantors as to how they may be used. The purposes and uses ol the restricted lunds are set out in the notes to the financial stal&rnents. Endowment funds are maintained for the fi￿jre benefft of the charity bul are expandablo fft nature. 1A InGom• Income Is recognised when the charity is legaly entitled to it after any perffjmance condttlons have t￿n met. the amounts can be measur&d reliably, and it probable that income be received. Cash donations are recc*3nlsed on receipL Other donations are recognised once tha charlty has b&8n notified of the donation, unless performance conditions require deferral of the amOl￿ Income tax recoverable In rofab'on io donatKJns received under GiftAid or deeds of covenant is recc•3nised at the time of the donab"on. THE SOLDIERS OF OXFORDSHIRE TRUST NOTES TO THE FINANCIAL STATEMEKfs (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles Icontlnued) Legacies are recognisod on réceipt or otheThYise rf the charity has been nob'fiad of an imponding distribution, the amount 1$ known. and receipt is expected. If the amount Is not kn¢)wn, the legacy is treatsd as a contingerrt asset. 1.$ Ex￿ndItUr0 Expendilure ￿ recognk88d once there is a legal or o)rtstructive obligation lo transfer economic benefit to a third party, it is probable that a transfer of ecor￿Mi¢ b9ngfits wll be requtred In setuement. and thg amount of the obligat￿n can be measured reliabty. Expendlture Is classlfied by actlvtty. The costs of each activity are made up of thg tolal of direct rx)sts and 8hared costs, including support costs involved in urKl8rtakn'ng Oach activity. Direct costs attributable to a singl8 activity are 8lkncated dire¢Uy lo thal aclmty. Shared costs bthich conlribule lo mor8 than one activity and support Cogts whith are not attdbutsble to a slngle activity are 8PPOrtioned befvleen those acttvrtles on a basis conslstenl with the use of resources. Central slaff costs ara allor2ted on th8 basis of tsm8 spenL and d•proclatlon tharges are albxated on the port1￿ of the assefs U80. 1.6 Tangibl• fix•d a••ets Tangible fixed assets are initiany maasurad at (a)st and subséquently measured at Cost or valuation, net of depr6datton and any Impalrment losses. Depreciation is reo)gnlyed $0 8$ to write off Ihe ry)st or valuatlon of 8s88ts less thelr resldual wa￿63 over th8lr usaftd lives on th8 follo￿￿r￿￿ bas Fr88h(4d land and buildlngs Flxtures and ffttlngs Computers 50 years stralghl Iln8 2 & S years stralght Ilne 3 yearn 8trayht line The gain or Ioss ari￿n9 on the disposal of an asset is delèminad as the differenL* betw8&n the salè proceeds and the c8rrylng value of the asset, and is recognised in the statement of financlal a¢tfvitlO$. 1.7 Flxod a•g01 Inve•lm8nts Fixed ass•t investments are initially measured at transaction pn¢• èxduding tranSac￿n costs. and aro subsequentty measured at fair value al each rewiing dale. Changes in fair vdue are revyJnlsed In net incomellexpendlbjre) for the year. Transaction costs are expensed as incurred. 1.8 Impalmient of fixod as59ts Al 8aGh reporting end date, the cherty reviews the (¥ryw)g amowits of Its tangible 888ets to dètamiin8 ether there Is any indKation thal those assets have suffered an impairment loss. If any such Indication exists, the recovèrab￿ arrrf)unl of asset is estimated in order to detamin8 the oxl•nt of the impainmont loss Irf any). 1.9 Cash and cash aqulvalents Cash and cash equivalents indude cash in hand, deFK6its held at call with banks, other short4emi Ilquid Investments wilh original maturitK8s of three months or bss. and bank ovwdrafts. Bank ov8rdTafts ar8 shown wlthln Lhrnlngs In ujrrent liabith1￿. THE SOLDIERS OF OXFORDSHIRE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollclo$ (Contlnuad} 1.10 Financtal Inslrumènts The charity has el8cted to apply Ihe prowsions of SectKJn 11 .82$￿ Financial Instruments. and Section 12 'Other Financk41 Instruments Issues. of FRS 102 to al of its financial instrumerrts. Financlgl instruments are reccsnlsed In the charitys balance sheet when the charlty becomes party to the contractual provisions of the instrumenL Flnanclal assets and Ilabililies are offset. with the nel amounls presontsd In the financial statem8nts. when there Is a legally enforceabl8 right to set off the re(wnised amounts and there Is an intention to $ettl8 on a net basis or to reabse the asset and settle the liabdity sImuhar￿tssty. 8aslc flnan¢lal 8s80ts Baslc financi81 assets. whkh include debtors and cash and bank balan(*s. are initialy measured 8t tr8n$a¢lion price includin9 Iransath'on costs and are subsequentty carried at amortisod cost using the affective Intfrrest method unless arrangement ¢onstitutes a financing transaction, where the transaction Is measured at the present V81ue of the fvtuTr receipts dbscounted at a market rate of interest. Flnanclal assets classified as receivable wilhin ona yèar ar& not amorkn"sed. 8•slc ftnan¢lal Ilabllltles Basi¢ financial liabilities, includir¥J uedltors and bank initielly recognised al transactton pri￿ un105S the arrangement constitutes a financing transacts"on. wher8 the debt Instrument is measured at the prèsent value of tho ftrture payments discounlod at a mark•1 rat• of inter88t. Finanaal liabdits'a8 cknssifiad as payable within one year 8Tr not amortised. Debt Instruments are 8ubseqyenOy ¢8rried al 8morU8ed ￿51. UBlng the effective intef88t rate method. Trade creditors are obligations to pay for g)ods or serwces thal have bean acquiréd in thé ordinary course of optsrallon$ from Suppllers. Amounts payable are classlfied as Current Ilabllltle$ if payment is due wlihln one year or less. If not, they are wesenled as nonunts ow8d by fellow group undertakirwjs 3,550 10.621 5.512 10.625 17 Cr•dltor•: amounts falllng du• wlthln on• y••r 2024 2023 Trade creditors Accruals 465 6.019 7,742 9,631 17,373 18 R•tir•m8nt bon•fft sch•m•# 2024 2023 D•flnBd contrlbutlon •c￿M Cha￿je to profft or loss ￿ respect of dekned contribulion schemas 3.424 2.553 The charity operates a d&fined contribution pension scheme for all qualÉfying ern￿OYeeS. The ass8ts of the heme a￿ held separatety from those of the tharity in an independenuy administered ftxnd. THE SOLDIERS OF OXFORDSHIRE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Endowment fvnds Endowment funds represent assets N*tich must be hekj pern￿neTr1ty by the chaiity. In(x)me arising on the 8ndowment funds can be used in accorda￿ with the objects of the charlty and is induded as unrestricted Income. Any capila5 gain5 or losses arising on the assets fomi part of the fijnd. Al 1 Aprll 2023 Transfers Galn8 and At 31 March losge$ 2024 Pgrrnangnt ondowmonts 1.098.344 (270,000) 81,437 909,781 Pr•vlous year: Al 1 Aprll 2022 Transfers Gains and At 31 March loswJ 2023 Expendablo ondowmenls Endowment funds 1.162.218 (20,000) {43.874) 1.098,344 20 R•8trl¢tsd fund8 The In￿rne fvnds of the charity include restrlcted funds comprfslng the fdlowiNJ unexpgnded balancas of cS)n8tions and grants held on trust for spoofic purFK)ses. The Exhlbltlon Funds represents grants frcAn chjnors to support SP8clk exhlbltbn6 to be organlsed In the Museum s d8dicat•d éxhibition spaee. The Education & Other Funds includes grants for $pe¢thc educalicfial acbvib'es to be carried out by the Museum and to d9velop Ihe expertise of th8 Museum staff and volunteors to enhanc8 the Museum actlvltl6s and operatlons. This also indudes the Art Fund. ￿lch conlribuled towards staff training 8nd Innovate I G6n8ral8 which was a r8fre8h of tha wobsila. Movement In funds Movement In fund$ Balan￿ ot InCorn￿￿ R•4ourc•s Balanc• at Incomlng 1 Aprll 2fJ22 r••wrc•• •xp•nd•d 1 Aprl 2023 r•sour R￿our￿$ 8•l•n¢• •t •xpondod 31 IAwch 2024 Exhibition Education & olher 8.849 17,999) 8.850 1,150 {8,6731 1.327 750 2,933 (2.075) 1.608 51,999 (43.872) 9,735 9.599 10,933 {10,074} 10.458 53.149 (52.5451 11,062 (9gZ'68z) 6I6'9OL LL£'6Ptr' 9Z9'£L OL'LI (zoi'Lg1 198Z'68z) 816'SOI 169'6PI 9a8'69£' Spury pguo9 punj losse poxi ezoz 4gJFIY ¥£ IV 8J0JgueJi pgpu•dxo g•JJnosw SO￿n0¥0¥ Ouiwo) oz Ivdv & iv e•A $noihOJd Z96'80£'Z ooo'ol (£z9'09£) I￿9,0￿) 6PUry IBJeUa9 pury pssE pexi trzoz P￿￿edX? 9owno$g¥ s•)Jnos•J £zoz iydv & iv 94OJSUP 'sasodJnd ?uiJ8ds JOJ Se￿$rL4 Aq spunj pepywun p ino apise ias U8aq OAeu spunj paiEuPASaP epnpui gsaui 'p8sn eq Aew MOU ￿ SE ￿￿UEJ6 pue sjouop Aq suoqlpuo) gw.?8ds ￿ pelqns iou gJB U?iuM guw6 pue suorywop Jo s8Juwpq pow8dx8un asudww Awpyg an io spuru pOpU￿•Jun auL ZOZ a3aN3 IIV3A 3HI 110 (aanNILNO)) SlN3V131VIS IVI?NVNla 3HI 01 S310N Isn¥1 3¥lHsa¥o4xo 40 s¥31aios 3HI JA• tx 06> THE SOLDIERS OF OXFORDSHIRE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 23 Rolated party transacilons There were donab'ons from 2 trustees in the year totalk'n9 £162 (2023: £280). and no reimburyJements made to trustee8 In the yoar12023.. £6361.