REGISTERED COMPANY NUMBER: 07189165 (England and Wales) REGISTERED CHARrrY NUMBER: 1151361 IF OXFORD LTD. REPORT OF THE TRUSTEES AND UNAUDED FINANCIAL STATEMENTS FOR THE YÉAR ENDED 31 MARCH 2024 Mercer Lev Ltd Chartered Accountants 7 Citibase New Barclay House 234 Botley Road Oxford OX2 OHP l Niiiiilliii AD15H0EO 1711212024 COMPANIES HOUSE A14
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IF OXFORD LTD. CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 MARCH 2024 Page Report of the Truste•s Independ•irt Examln•rfs Report Stat•m•nt ol Flnan¢lal ActlvlU•g Balance Sh••t Not to the Flnanclal Statements 7 10 11
IF OXFORD LTD. REPORT OF THE TRUSTEES FOR THE YEAR E14DED 31 MARCH 2024 The tNstees who are also directors of the charity for the purposes of the Compaftles Act 2006. present their reporl with the finanaal ststements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Slalement of Recomrnended Practice appIlble to ¢harits'es prepanng their accounts in accordance Mih the Finanrial Reporting Slandard applicable in the UK and Republic of Ireland (FRS 102) (eflective 1 January 2019). OBJECTIVES AND ACTMTIES ObloCtlv•s and alms The aims ol the charity remain to devekp. over the next fwe years, a high quality, financialty sustainabl8 science and id8as (Mthere sclence represents the pursult of knoedge and includes the soaal sci8nc8s and the crossover between STEM and the Arts) leslival vAth a non4xdusive focus on the Oxlord region, aiming to have nauonal and Intematlonal appeal. Our objectives are th8 follong. To deliver a variad pmgramme of high quality, énjoyable sci8nce and ideas events which: AltraGt a large. diverse audience. gaining consistenlly positi've feedbath and reach all of Ihe communities in Oxlordshlre - To explore arL culture and perf(mance and how these interact *ith science in order to wden the appeal of the festival and engage with an audience who would not normalty consider attending a sc4ence and ideas lesllval Showcase th8 wid8 range of s(xenc8, technology and Innovation takino place Sn the region, en8urfng Ihls 19 cOVed wilh scientifi¢ credibility and rigor Raise awareness. engage and excite people, supporbng a lrfe4ong interest in Scien and profile the ski118 and career opportunhles available In the innovatlon sector To take the fèstlval lo communlt18s would not naluralty engage In a sdonce and Ideas lestival. for example in South East Oxford. Develop a cle8r. di8tincliv8 id8nOty and brand lor the f8Stlvallsl thal wlll.. - Attract high profile and credible STEM speakers and events - Encourage vlsilors to Oxlord Build a national and intemalional profile - Goln main8trearn and Ixal rnedia recognition 8ulld a financiafty sustainable organisation: - An emphasis In 2023 has been on business d8velopment. engaglng with polential funders: promoling the benefits of 5ponsorOng and p8th'clpatlng in the festival to companies and organisations Vlith the aim of irnproving Ihe finanaal sustainability and including a broader cohort of companles and organigalions willing to financially support the festival and lessen the relianrA on the small numb8r of key funders. - The 6mergèncy fund Ihal had been established was used durtng Ihe Covid p8ndemlc and an importanl aim Is to generate an annual surplus to rebuild this emergencylcontlngency fund. However, thls Is provlng thallenging and it ts only by establlshing strong and predlctable revenue streams Ihat the suslainable delivery of a substantial annual feslival y11 be achieved. - That has sufficient reser4es to defray flnancial risks - That has robust cost control. financial govemance and overslghl.
IF OXFORD LTD. REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ACHIEVEMEKf AND PERFORMANCE Charitable activltles The festival in 2023. delivered 108 public events. invofving 750 profes8ional8 and vdunteers r8preserrting their university, college or departrnenL companies. charities. communities and individuals. We ¥¥ish to a¢knoedge the support provided by all of the participants in IF Oxford 2023. VthoUt thom we ccwld nol have delivered a mOnlOng programme of events. Approximatety. 43,000 people engaged bith the festivals 108 events during October 2023, wilh approximatety 66Yo ¥isibng the festival for the first time. In exrt surrfeys over 95% of visiiors raled the event they attended as good (a score o16+ 110) and 80% as great (8+ 110). The festival audience covered a broad age range and the hands4Jn activities at Blast. Tech Works, Science at the Shops, Explorazone and Robot Racing at the lffley Road Sports Centre brought in a family audience. Over 80Yo of attendees came from Oxfordshire. A grant was awarded by the Oxfordshire Local Enterprlse Partner5hlp (OXLEP) to run a thshop entitled "Energising Ambitions" Ithere key stakeholders were invited to explore how they engage with the festival and offer recommendats'ons as to how to bring in 8dditsonal financial supporters. The OXLEP grant also funded two videos aimed at the buslnessleducation sector and the audiencelcommunlty groups re$pKtivety. FINANCIAL REVIEW Flnanclal posltlon Tha year presented a Nmber of slgnfficant finandal chalenges and acknovAe(Ige the Iln8ndal support recelved from a number of bodies, wEthoLrt whom the prograrnme could not have been delivwed. Despite this SUPPOTL the fests.val operated on a minimal viable budget and we experienced an in(Yease in cosls due to the hlgh inflation rate. 11 was agr8ed to offer the two pemianent staff a modest salary increase to renecl their hard work, achievements and offset the rlsing cost of Ilvlng. IF Oxford Lld made a very smau surplus durtng the year of £1.005 on a turnover of £166.676. The priority for Ihe festival is to encourage more companies and organlsations lo engage vlth the feslival and cffer financlal support Ihrwgh pa¢1pas0n fees. sponsorship and donalions in order lo grow an emergency fund and ensure finanaal sustainability. However. at the en(J of the perlod a small number of sponscffs elther withdrew from the festival or reduced the 18vel of thr sponsotship. This vlill impact the awdilable budget for the 2024 festival and manifest in a cashtlow thallenge in eally 2025. The boar(I has 8 fiduclary responsibility and allgned with this will rewlew Ihe financial viabllty ol the festival in Oecember 2024. FLrruRE PLANS In 2024 our focus continues to be on increasing income to build flnancial sustsinabilbty. ¢)Jr overarchlng objective remains to build a major independent science and ideas festival in the region of Oxford, 8ncour8glng participation from the ragion's scièncè and Innovation ecosystèm. We aim to work wlth th cyeative arts sector to encourage their participation In the festival, with the aim of attracting a broader audlence. We a150 propose to contlnue io take events to locallunder represented communlties 0 would not usualty engage vilh a saence and Ideas festival. This objeclive remains a key driver for a significant nurnber of our funders. Finally, we wish to retsin the 'Pay Wh81 You Decide. model for the majority of lestival events, so Ihat prtce is not an obstacle to people attending events, however. due to the finandal challenges face(1 we will encourage more donations from attendees at events. STRUCTURE. GOVERNANCE AND MANAGEMENT Govemlng document The tharTty is conlrolled by its govoming document, a deed of trusL and CA811tUtes a limited company. limited by guarantee, as defined by the Cornpanies Act 2006.
OXFORD LTD. REPORT OF THE TrUSTEES FOR ThE YEAR ENDED 31 MARCH 2024 STRUCTURE. GOVERNANCE AND MANAGEMEiir Declslon maklng Our Charity is govemed by a board of trustees all of whorn hold. have held, significant roles in siien¢8, education. communications or business. Some of the Iruslees come from key partnering institutions. local research organisations and c4Thpanies. The 2023 Festival was supported by a number of organSsations. participants and donofs, who were acknoledged in both the lestival programme, online and in the Oulputs and Impacts Report. Our board of truslees conllnue to woth towards the improvement of our &4)vemance and support Ihe groY•lh of operational capaoty. and will ojntinuously review our structure. procdUS and managernent lo meel this aim. In addition, we seek to increase the diversity and age profile of the board in order to better represent society and ensure we are able to engage wlth all cornmuniues. During this period iwo new Truslees were in¥lled to joln the bo8rd, Dr Nia John as eXClO truslee from the UKAEA and Mr Samuel Mansell fepr8senting the local cc(nmunity. REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Company number 07189165 (England and Wales) Registered Charlty number 1151361 Reglstor•d offl 7 C6tlbase, New Barday HOL 234 8olley Road Oxford OX2 OHP TnJste•• Mr Rory Flryl Campbell (reslgned 1513r2024) Dr Timothy David Hart Professor David Pe Dr lan Thompson Dr Claire Cockcroft Dr Sarah Jane Macnaughlon Mr Sarnuel Mansell {appointed 61912024) Ms Nia Caroline John {appolnled 61912024) Company S•er¢tary Or Dane Wllliam Comerford Indep•nd•nt Examln•r A Churchill Sione FCA DChA Mercer Lewn Ltd Chartered Accountanls 7 Cltlbase New Barclay House 234 Botsey Road Oxford OX2 OHP Approved by order of the board ol trustees on .. tir Thompson - Trustee
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF IF OXFORD LTD. Independent examlnets report lo the trustees of W Oxford Ltd. Dhe Compan I report to the charity trustees on my examination of the accounts of th6 Company for Ihe year ended 31 Mar¢h 2024. Responslbllltles and bas16 of report As the charivs truslees of Ihe Company (and also its directors for Ihe purposes of company law) you are responsible for the preparati( of the accounts in accordance with the requirements of the Companies Act 2006 {'the 2006 Act,). Having satisfied myseff that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are elSglble for Indepèndent examination. I report In resped of my examinatlon of your chartyg accA)unts as caffi8d ¢t under S8ctson 145 of the Charities Act 2011 Cthe 2011 Act,). In carying out my examination I have lollowed the Directions given by the Charity Commission under Section 145($1 (b) of the 2011 Acl. Independent examln•rfs Statement I have Gompleled my examination. I confirrn that no matters have Gome to my attention in connectiw the examination giving me cause to beth'eve: acxountlng records were not kept In respect of the Company as requlred by Section 386 of the 2008 ACL. or the accounts do not accord with those records. or the accounts do not comply ryth the accounting requirement8 of Section 396 of the 2006 Acl other than any requirement that the accounts give a true and fair view ¥4thich is not a matter considered 8$ part of an independent examination: or the accounts have not been prepared in accordance the methods and prhciple6 of the Statement of Recommended Practice for ac(Xnting and reporting by tharities {applicable to charities preparing their accounts in 8CCOTd8nc8 ith the Finandal Reporting Stsndard applicable in th8 UK and Republic of Ireland {FRS 102)). I have no concerns and have come attoss no other matter5 in connedion the exarnination to which attenlion should be draffi in this report in order to ertable a proper understandlng of the a?nIS to be reached. A Churchill Stone FCA DChA Mercer Le%in Ltd Chartered AcrL¢untants &7 Citibase New Barclay Hous¢ 234 Botley Road Oxford OX20HP
IF OXFORD LTD. STATEMENT OF FINANCIAL ACTtVmES FOR THE YEAR ENDED 31 MARGH 2024 2024 Total funds 2023 Total fund8 Unrestricted Restrlcted fund funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 6.460 Charftable actlvitles Sdence communlcatlon 145,322 15.000 160,322 146.358 Total 151.676 15.0 166,676 152.818 EXPENDITURE ON Charitable activitle5 Science communication 159,671 6,000 165,671 152.149 NET INCOMEI(EXPENDITURE) (7,995) 9.000 1,005 RECONCILIATION OF FUNDS Total funds brought forward 33,637 33,637 32.968 TOTAL FUNDS CARRIED FORWARD 25,642 9.000 34,642 33.637 The notes fomi part of Ihese financial Statements
IF OXFORD LTD. BALANCE SHEET 31 MARCH 2024 2024 Total fund8 2023 Total funds Unrestricted Restricted fund funds Notes FIXED ASSETS Tangible assets CURRENT ASSETS Debtors Cash at bank 11,569 17,301 9.000 20.569 17.301 9,524 27.499 28,870 37,870 37,023 CREDrroRS Amounts falling due wlthin one year (3.229) (3.229) (3.387) NET CURRENT ASSET5 25,641 9.(100 34.641 33,636 TOTAL ASSETS LESS CURRENT LIABILrriES 2S,642 9.000 34,642 33,637 NET ASSETS 25,642 34.642 33,637 FUNDS Unrestrfcted funds Rastricled funds 25.642 9,000 33,637 TOTAL FUNDS 34.642 33.637 The charitabl8 ry)mp8ny Is titled to exempiion from audit under Section 477 01 the Ccffipanie6 Act 2006 for the ar ended 31 March 2024. The members have not required the company to obtain an audlt of Its financial statements for the ypar ended 31 March 2024 in a¢Gord8n¢e with Section 476 of the compani Act 2006. The Irustees acknovA8dge their responsibilitles for la) ensuring thal the ch8ri18blo comp8ny keeps accounting records that comply with Sections 386 and 387 of Ihe Companies Act 2006 and (b) preparlng flnanclal statements ¥thlch glve a true and falr vlew of the stale of affalrs of the chantsble company as at the end of each financial year and of its surplus or deficit for eath financial year in accordance with the requirements of S8ctions 394 and 395 and which otherwise compty with the quirements of the Comp8nies Act 2006 relatlng to fin8nci81 statements, so far as appficable lo Iht charllable company. These financial statements have been ppared in accordance with the provisions applicable to charitable ompanies subjed to the small companies reglme. The financia statem were 8pproved by Ihe Board of Trustees and authorised for isr•ue on and le signed on its behall by. Dr Thornpson - Trustee The notes fomi part of Ihese financial ststements
OXFORD LTD. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES BASIS OF PREPARING THE FINANCIAL STATEMENTS The financial sL8tements of the charitable company. ththich is a public benefit 8ntity und8r FRS 102, have been prepa in accordance with Ihe Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Stalwnenl of Recommended Practice appllcabla to charities prepadng their accounts in accordance ¥Mth the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland IFRS 102) (effective 1 January 2019),. Financial Reporting Standard 102 The Financial Reporting Standard applicablg In the UK and Republic of Ireland. and Ihe Companies Act 2006. The financl81 ststements have been prepared under the hi8iuical cost conventlon. INCOME l income is recognised in the Statement of Financial Activities once Ihe charity has entitlemenl to the funds. it is probable that the income wlll be recelved and the arnount C8n be rneasured reliably. EXPENDrruRE Liabil.es are recognised as expenditure as soon as there is a legal or construdive obfigation committlng charity to that expendllure. It Is probable that a transfer of OnoMIC benefits ¥lll be required in setttemenl and the amount of the Obligati can be measured reliably. Expenditure is arxounted for on an acc¥uals basis and has been dassified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocalod to activiti88 on a basls consistent with the use of reSr¢e8. TANGIBLE FIXED ASSEf5 Deprerjation is provided at the folloing annual rates In order to write off eath asset over ris esb"mated uselul fife. Computer equipment 33•A on cost TAXATION The chanty is exempt from cofpor8bon tax m Ils charltsble aclivities. FUND ACCOUNTING Unrestricted funds Gan bo used In aordanCe with the charliable objeclives at the dis(Yellon ol tho trustee8. Restricted funds can onty be used for particular restricted purposes within the objects of the charity. Reslrictions arise wh8n speclfied ty Ihe donor or funds are raised for parttcular restricted piirpo8e8. Further explanation of the n8re and purpose of each lund Is included in the noles lo the fiDcIal statements. PENSION COSTS AND OTHER POSTthETIREMENT BENEFrrs The charitable (xxnpany operates a defined (xjnlribution pension scheme. Contrlbutions payable to the tharilable cornpanls pension scheme are charged to Ihe Slatemonl of Financial AGlivities in the period to which Ihey re181e. continueth..
IF OXFORD LTD. NOTES TO THE FINANCIAL STATEMENTS - ¢ontlnu¢d FOR THE YEAR ENDED 31 MARCH 2024 NET INCOMEI(EXPENDrruRE) Net 1nrmel(expendituj is ststed after thargingl{crediting).' 2024 2023 Depreciation- owned assets 227 TRUSTEES. REMUNERATION AND BENEFrrs There were no INstees' remunerats'on or olher benefits for the year ended 31 March 2024 nor for Ihe year ended 31 March 2023. TRUSTEES. EXPENSES There were no trustees, expenses paid for the year ended 31 Marth 2024 nor for the ar ended 31 March 2023. COMPNRATIVES FOR THE STATEMENT OF FINANCIAL ACTivrfiES Unrestricted Restrlcted fund funds Total funds INCOME AND ENOOWMEKfs FROM Donations and legacles 6,460 6.460 Charltable actlvltles Science c%)mmunlcatlon 139,858 6.500 146.358 Total 146,318 6,500 152.818 EXPENDITURE ON Charltable actlvltl ience communicalion 145.649 6,500 152,149 NET INCOME 669 669 RECONCILwnoN OF FUNDS Total funds brought forward 32,968 32,968 TOTAL FUNDS CARRIED FORWARD 33,637 33,637 continued...
IF OXFORD LTD. NOTES TO THE FINANCIAL STATEMENTS - contlnuod FOR THE YEAR ENDED 31 MARCH 2024 TANGIBLE FIXED ASSErs Computer equipment COST Al 14uril 2023 and 31 March 2024 1.040 DEPRECIATION At 1 April 2023 and 31 Marth 2024 1.039 NET BOOK VALUE At 31 March 2024 At 31 March 2023 DEBTORS: WIOUNTS FALLING DUE THIN ONE YEAR 2024 2023 Trade debtors Prepayments arKI accrued income 6.000 1S,569 6.000 3.524 20,569 9,524 CREDrroRS: *JIOUNTS FALLING DUE wrrHIN ONE YEAR 2024 2023 Trade credltors Social securtty and other taxas Pension liability Accruals arml defeffed Income 246 2,243 481 2.192 180 180 3,229 3.287 MOVEMENT IN FUNDS Net movemenl in funds At 114123 31r3124 Unregtrlctod funds General lund 33.637 (7,995) 25.642 Restrlcted funds OXLEP Project 9,ODO TOTAL FUNDS 33.637 1.005 34.642 contlnued...
IF OXFORD LTD. NOTES TO THE FINANCIAL STATEMENTS- contlnuod FOR THE YE>R ENDED 31 MARCH 2024 MOVEMENT IN FUNDS - contlnu¢d Net movement in funds, induded in the al)ove are as follows: IncnIng fesour¢e8 Resources Movement expended in funds Unrestrlctsd funds General fund 151.676 (1 59.671) (7,995) Restricted funds OXLEP Project 15.LN)O (6.000) TOTAL FUNDS 166,676 {165.671 } 1.005 Comparatlves for movefflent In funds Net movement in fund$ At 114122 31131rJ Unrestrlcted lund8 General lund 32,968 669 33,637 TOTAL FUNDS 32,968 669 33.637 Comparatsve net movement in funds. included in the abe are as follows: Incrnilng re8ourc88 Resources expended Movemenl In lund8 Unr•stricted funds General fund 146,318 {145.849) 669 Restricted fundg Christmas Lights FestiV81 6,500 (6.500) TOTAL FUNDS 152,818 (152,149) 669 10 cA)ntinued..-
IF OXFORD LTD. NOTES TO THE FINANCI STATeMeNTS - continued FOR THE YEAR ENDED 31 MARCH 2024 MOVEMENT IN FUNDS - Continued A current hear 12 months and Pfior year 12 months combined position is as foHows: Net rnovement in funds At 114122 3113124 Unr•strlct•d lund General fund 32,968 17.326) 25,642 Restricted funds OXLEP Prqect 9.000 TOTAL FUNDS 32,968 1,674 34.642 A Cuenl year 12 months and prior year 12 monlhs combined net movement in funds, included in the above are as follows". Incoming Ra8ources Movemènt resources expended in funds Unr•strl¢t•d fund• General fund 297,994 (305,320) (7,326) Restrlct•d lunds Chrl8tma8 Llghts F8811val OXLEP Proiect 6.500 15.000 (6.500) (6,000) 9,000 21,500 (12,500) 9.000 TOTAL FUNDS 319,494 (317,820) 1,674 RELATED PARTY DISCLOSURES There were no related party transactions lor the year ended 31 Marth 2024.