Ashmolean Museum Endowment Trust
Report and financial statements
for the year ended 5 April 2024
Registered charity no. 1154932

Ashrnolean Museum Endowment Trust
Contents
For the year ended S April 2024
Page
Charity information
Trustees, report
Independent auditors, report
Statement of financial activities
Balance sheet
Statement of cash flows
io
Notes to the financial statements
11-16

Ashmolean Museum Endowment Trust
Charity inforniation
For the year ended 5 Aprll 2024
Trustees
Sir Martin Smith
Mr Bernard John Taylor CVO CBE DL
Professor Irene Mary Carmel Tracey CBE FRS
Lord James Roger Crompton Lupton CBE
Dr Alexander John Sturgis CBE
Registered address and principal office
Farrer & Co
65-66 Lincoln's Inn Fields
London
WC2A3LH
Registered number
1154932
Auditors
Saffery LLP
St Catherine's Court
Berkeley Place
Clifton
Bristol
BS8 IBQ
Bankers
Coutts & Co
440 Strand
London
WC2R OQS
Solicitors
Farrer & Co LLP
Farrer & Co
65-66 Lincoln's Inn Fields
London
WC2A 3LH
Investment managers
OUEM Ltd
27, Park End Street
Oxford
OXI IHU
Page I

Ashmolean Museum Endowment Trust
Trustees. report
For the year ended 5 April 2024
The trustees present their report and financial statements for the year ended 5 April 2024. The financial
statements have been prepared in accordance with the accounting policies set out on pages I I to 12 and
comply with the charity's trust deed and applicable law, the Charities Act 2011 and the Statement of
Recommended Practice: Accounting and Reporting by Charities 2019 (FRS 102).
Objectives and activities for the public benefit
The objert of the trust is to advance education in the arts and archaeology for the public benefit at the
Ashmolean Museum ofArts and Archaeology ["the museum") in the University of Oxford by the provision
of financial and other support including but without limitation to support for general upkeep. teaching,
research and the facilitation of public access. Admission to the museum is free of charge. The trustees
confirm that they have referred to the Charity CoTnmi55ion guidance on public benefit when reviewing
the trust's aims and objectives, in planning future activities and setting grant making policy.
Structure. governance and management
Ashmolean Museum Endowment Trust (registered number 1154932) is governed by a trust deed dated
29 Ortober 2013 which established the trust. The registered office is detailed on page l.
The trust's bankers are Coutts & Co, and Farrer & Co LLP of 65-66 Lincoln's Inn Fields, London, WC2A
3LH are the trust's solicitors.
The trustees, who all served for the whole of the year ending 5 April 2024, are:
Sir Martin Smith
Mr Bernard John Taylor CVO CBE DL
Professor Irene Mary Carmel Tracey CBE FRS
DrAlexander John Sturgis CBE
Lord James Roger Crompton Lupton CBE
The trustees as a body are entitled to appoint one or more new trustees and at all times there must be at
least three trustees, the majority ofwhom must be resident in the United Kingdom. The trustees
meeting5 are held at appropriate regularity throughout the year. The trustees have established a policy
on trustee training whereby any new trustees without the necessary experience receive training
concerning trustee duties, responsibilities and obligation5.
The key management personnel of the charity do not receive any remuneration.
Risk management
The principal risks faced by the trust lie in the performance of its investments. This investment risk is
mitigated by engaging expert investment managers.
Achievements and perfonnance
The trustees are satisfied with the performance of the investments. The charity made donations of
£370,000 to the Ashmolean Museum during the year.
Page 2

Ashmolean Museum Endowment Trust
Trustees, report (continued)
For the year ended 5 April 2024
Reserves policy
The trustees aim to maintain sufficient free cash to make no less than one annual donation to the
Ashmolean Museum and to pay, out of restricted income, for the governance costs. In line with this
policy, free cash stood at £608,072 at 5 April 2024.
Financial review
The trust's work is entirely reliant on income from donors and returns from its investment The trustees
expect the value of the charity's donations in pursuit of its objects to increase over time.
Investment policy and performance
The trust has an investment policy and employ fund managers who make investments in accordance with
the long term nature of the trust's objects.
Trustees, responsibilities in relation to the financlal statements
The trustees are responsible for preparing the trustees. report and the financial statements in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice).
The law applicable to Charities in England & Wales requires the trustees to prepare financial statements
for each financial year which give a true and fairview of the stste of affairs of the charity and of the
incoming resources and application of resources of the charity for that period. In preparing these
financial statements, the trustees are required to:
select suitable accounting policies and then apply them consistently,
observe the methods and principles in the Charities SORP (FRS 102);
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any material departures
disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that
the charity will continue in operational existence.
The trustees are responsible for keeping proper accounting records that disclose with reasonable
accuracy at any time the financial position of the charity and enable them to ensure that the financial
statements comply with the Charities Art 2011, applicable accounting regulations and the provisions of
the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
Auditors
The Charity's auditors, Saffery LLP, have expressed their willingness to continue in office, and a
resolution to reappoint them will be proposed at a meeting of the Trustees.
Mr Berna
lor CVO CBE DL
Signed on behalf of the Trustees, on
Page 3

Ashmolean Museum Endowment Trust
Independent auditors, report to the Trustees
For the year ended 5 April 2024
Opinion
We have audited the financial statements of Ashmolean Museum Endowment Trust for the year ended 5
April 2024 which comprise the statement of financial activities, the balance sheet, statement of cashflows
and notes to the financial statements, including a summary of significant accounting policies. The financial
reporting framework that has been applied in their preparation is applicable law and United Kingdom
Accounting Standards, including Financial Reporting Standard 102, the Financial Reporting Standard
applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements..
' give a true and fair view of the state of the charitys affairs as at 5 April 2024 and of its incoming
resources and application of resources for the year then ended,.
. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice; and
. have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We condurted our audit in accordance with International Standards on Auditing (UK) (ISAS (UIQ) and
applicable law. Our responsibilities under those standards are further described in the Auditor's
responsibilities for the audit of the financial statements section of our reporL We are independent of the
charity in accordance with the ethical requirements that are relevant to our audit of the financial
statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of
accounting in the preparation of the financial statements is appropriate,
Based on the work we have performed, we have not identified any material uncertainties relating to
events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to
continue as a going concern for a period of at least twelve months from when the financial statements are
authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in
the relevant sections of this reporL
Other information
The trustees are responsible for the other information. The other information comprises the inforrnation
included in the annual report. other than the financial statements and our auditor's report thereon. Our
opinion on the financial statements does not cover the other information and. except to the extent
otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Page 4

Ashmolean Museum Endowment Trust
Independent auditors, report to the Trustees (continued)
For the year ended 5 April 2024
Other inforniation (continued)
Our responsibility is to read the other inforniation and, in doing so, consider whether the other
infonnation is materially inconsistent with the financial statements or our knowledge obtained in the
course of the audit or otherwise appears to be materially misstated. If we identify such material
inconsistencies or apparent material misstaten]ents, we are required to determine whether this gives rise
to a material misstatement in the financial statements themselves. If, based on the work we have
performed, we conclude that there is a material misstatement of this other information; we are required
to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts
and Reports) Regulations 2008 require us to report to you if, in our opinion:
the information given in the Trustees. Annual Report is inconsistent in any material respect with the
financial statements; or
. the charity has not kept sufficient accounting records: or
. the financial statements are not in agreement with the accounting records and returns; or
. we have not received all the information and explanations we require for our audiL
Responsibilities of trustees
As explained more fully in the Trustees, Responsibilities Statement set out on page 3, the trustees are
responsible for the preparation of the financial statements and for being satisfied that they give a true and
fair view, and for such internal control as the trustees determine is necessary to enable the preparation of
financial statements that are free from material misstatemenL whether due to fraud or error.
In preparing the financial statements. the trustees are responsible for assessing the chari￿s ability to
continue as a going concern, disclosin& as applicable, matters related to going concern and using the
going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease
operations, or have no realistic alternative but to do so.
Auditors, responsibilities for the audit of the financial statements
We have been appointed as auditors under the Charities Act 2011 and report in accordance with
regulations made under that ACL
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement. whether due to fraud or error, and to issue an auditors, report that
includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an
audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the
aggregate, they could reasonably be expected to influence the economic decisions of users taken on the
basis of these financial statements.
Page 5

Ashmolean Museum Elldo￿nent Trust
Independent auditors, report to the Trustees (continued)
For the year ended 5 April 2024
Auditors. responsibilities for the audit of the financial statements (continued)
Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to detect material rnisstatements in respert
of irregularities, including fraud. The specific procedures for this engagement and the extent to which
these are capable of detecting irregularities. including fraud are detailed below.
Identifying and assessing risks related to irregularities..
We assessed the susceptibility of the charity's financial statements to material misstatement and how
fraud might occur, including through discussions with the trustees, discussions within our audit team
planning meeting, updating our record of internal controls and ensuring these controls operated as
intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial
statements. We identified laws and regulations that are of significance in the context of the charity by
discussions with trustees and updating our understanding of the sector in which the charity operates.
Laws and regulations of direct significance in the context of the charity include the Charities Act 2011, the
Charities (Accounts and Reports) Regulations 2008 and guidance issued by the Charity Commission for
England and Wales.
Audit response to risks identified:
We considered the extent of compliance with these laws and regulations as part of our audit procedures
on the related financial statetnent items including a review of financial statement disclosures. We
reviewed the chariws records of breaches of laws and regulations. minutes of meetings and
correspondence with relevant authorities to identify potential material misstatements arising. We
discussed the charity's policies and procedures for compliance with laws and regulations with members
of management responsible for compliance.
During the planning meeting with the audit team, the engagement partner drew attention to the key areas
which might involve non-compliance with laws and regulations or fraud. We enquired of management
whether they were aware of any instances of non-compliance with laws and regulations or knowledge of
any actual. suspected or alleged fraud. We addressed the risk of fraud through n]anagement override of
controls by testing the appropriateness of journal entries and identifying any significant transactions that
were unusual or outside the normal course of business. We assessed whether judgements made in
making accounting estimates gave rise to a possible indication of management bias. At the completion
stage of the audit, the engagement partnerfs review included ensuring that the team had approached their
work with appropriate professional scepticism and thus the capacity to identify non-compliance with
laws and regulations and fraud.
There are inherent limitations in the audit procedures described above and the further removed non-
compliance with laws and regulations is from the events and transactions reflected in the financial
statements. the less likely we would become aware of IL Also. the risk of not detecting a material
misstatement due to fraud is higher than the risk of not detecting one resulting from error. as fraud may
involve deliberate concealment by. for example, forgery or intentional misrepresentations. or through
collusion.
Page 6

Ashmolean Museum Endo￿llent Trust
Independent auditors. report to the Trustees (continued)
For the year ended 5 April 2024
Auditorg responsibllities for the audit of the financial statements (continued)
A further description of our responsibilities is available on the Financial Reporting Council's website at:
rs
es
nsibili
Use of our report
This report is made solely to the charity's trustees. as a body. in accordance with Part 4 of the Charities
(Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to
the trustees those matters we are required to state to them in an auditor's report and for no other
purpose. To the fullest extent pennitted by law, we do not accept or assume responsibility to anyone
other than the charity and the trustees as a body. for our audit work for this report, or for the opinions
we have formed.
$4fy LLP
Saffery LLP
Chartered Accountants
Statutory Auditors
St Catherine's Court
Berkeley Place
Clifton
Bristol
BS8 IBQ
Date: 6 January 2025
Saffery LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006
Page 7

Ashmolean Museum Endowment Trust
Statement of financlal activities
For the year ended 5 April 2024
Unrestricted Unrestricted
General Designated Restrlcted
funds
funds
funds
2024
2024
2024
Total
funds
2024
Total
funds
2023
Note
Income from
Donations and legacies
Investments
69
150,638
42
91.669
99
216,955
210
459,262
65,010
425,192
Total
150,707
91,711
217,054
459,472
490,202
Expendfiture on
Charitable activities
133,929
73.853
174,787
382,569
401,276
Total
133,929
73,853
174,787
382,569
401,276
Gain/Ooss) on investments
190,717
116,060
274,678
581,455 [652,182)
Net Income/ (expenditure)
207,495
133.918
316,945
658,358 (563,256
Transfers between ￿ndS
8,446
(166,243)
157,797
Net movement in funds
215,941
474,742
658,358 (563.256
Reconcfiliation of funds:
Total funds brought forward
3.713,852
2.423,795 5,185.072
11,322,719 11.885,975
Total funds carried forward
7 3,929,793
2,391,470 5.659.814 11.981.077 11,322.719
The Charity has no recognised gains or losses other than the results for the year as set out above. All activities
of the Charity are classed as continuing.
See note 13 for fund accounting comparative figures.
The notes on pages 11 to 16 forni part of these financial statements.
Page 8

Ashmolean Museum Endowment Trust
Balance sheet
As at 5 April 2024
2024
2023
Notes
Fixed assets
Investments at market value
11,337,106
10,755,651
Current assets
Cash atbank and in hand
Debtors
608,072
46.032
538,546
42,231
Liabilities
Creditors falling due within one year 6
10,133
13,709
Net current assets
643,971
567,068
Net assets
11.981,077
11,322,719
The funds ofthe charity.
Restricted funds
Designated funds
Unrestricted funds
Total charity funds
5.659,814
2.391,470
3.929,793
11.981.077
5,185,072
2,423.795
3.713,852
11.322.719
7&8
The notes on pages I I to 16 forn] part of these financial statements.
Mr Bernard
Tayl
r CVO CBE DL
Approved on behalf of the Trustees on ..,
Page 9

Ashmolean Museum Endowment Trust
Statement of cash flows
As at 5 April 2024
2024
2023
Notes
Cash generated from operatlng
activities
11
69,526
91,891
Cash flows from investfjng activitles
Purchase of investments
(500,000]
Cash used in investing artivities
500,000
Cash flows from financing artlvfjties
Increase/(decrease) in cash and cash
equivalents in the year
69,526
(408,109)
Cash and cash equivalents at the
beginning of the year
538,546
946,655
Total cash and cash equlvalents at the
end ofthe year
608,072
538.546
Page 10

Ashmolean Museum Endowment Trust
Notes to the financial statements
For the year ended 5 April 2024
Accounting pollcies
1.1 Accounting conventlon
The financial statements have been prepared in accordance with the Statement of Recommended
Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) applicable from I
January 2019 and the Financial Reporting Stsndard applicable in the United Kingdom and Republic of
Ireland (FRS 102) and the Charities Art 2011 and UK Generally Accepted Practice as it applies from I
January 2019.
The financial statements are prepared in sterlin& which is the functional currency of the charity.
Monetary amounts have been rounded to the nearest £1.
The charity constitutes a public benefit entity as defined under FRS 102.
The financial statements have been prepared under the historical cost convention.
1.2 Incoming resources
Donations are recognised in the period in which the charity is entitled to receipt and the amount can
be measured with reasonable certainty. Income is only deferred when the charity has to fuifIl
conditions before becoming entitled to it or when the donor has specified that the income is to be
expended in a future period. Investment income is accounted for on its receipt.
1.3 Resources expended
All expenditure is accounted for on an accruals basis and has been classified under headings that
aggregate all costs related to that category.
There is no requirement to apportion overheads other than on a dirert basis. This is due to there
being only one charitable activity undertaken by the trust.
1.4 Investments
Fixed asset investments are included at market value at the balance sheet date.
Unrealised gains and losses represent the movement in market values during the year and are
credited or charged to the ststement of financial artivities based on the market value at the year end.
1.5 Taxation
The Trust is a registered charity and is not liable to United Kingdom income tax or corporation tax on
charitable activities.
1.6 Financial instruments
The charity has applied the provisions of Section 11 'Basic Financial Instruments, and Section 12
'Other Financial Instrnments Issues, of FRS 102 to all of its financial instruments. Other than where
specifically stated all of the charity's financial instruments are classed as basic financial instruments.
Financial assets are recognised in the charity's balance sheet when the charity becomes party to the
contractual provisions of the instrument.
Page 11

Ashmolean Museum Endowment Trust
Notes to the financial statements (continyed)
For the year ended S Aprll 2024
Accounting polldes (continued)
1.6 Financial Instrnments (continued)
Financial assets are classified into specified categories. The classific2don depends on the nature and
purpose of the finanaal assets and is deterniined at the time ofrecognition.
Basicfinanciola&Fets
Basic financtal assets, which include trade and other debtors and cash and bank balances. are initially
rnea5ured attraD5action price including transaction costs and are subsequently carried atamortised cost
using the effective interest method. unless the arrangement constttute5 a financing transaction, where the
transartion is measured atthe present value of the fvture receipts discounted at a market rate of interest
Basicfinanciulliabilities
Basic finanaal liabi]itie5 are thltially recogn5sed attransaction prtce. unles5 the arrangement constitutes a
fjnancing transaction, where the debt instrument Is measured atthe present value of the receipts
discounted at a market rate of interest
1.7 Fund accounting
Unrestrirted funds are those funds whlch are available for use at the discretion of the tsvstees in
furtherance of the general objects of the charity and which have not been designated for specific objects.
The restrirted fvnds are donations whlch the donors have specified whattheir donation Is to be used for in
specific areas of the trust's work The restricted fvnds relate to supporting the curators of ancient Egypt
and Sudan Collections, Northern European Art Greek and Aegean Art and Indlan Art.
The designated hjnds are addltlonal funds thatthe Trustees intend to spend on the same areas as the
restrlcted funds.
1.8 Going concern
Atthe time olthe approval ofthe flnancial statements, the trustees have a reasonable expectation that the
charity has adequate resources to continue in operational existence forthe foreseeable future. Thus. the
trustees continue to adoptthe going concern basis of accounting in preparingthe financial statement&
Charitable activities
Unrestricted Unrestricted
General
DesiEnated
funds
funds
2024
2024
Restricted
funds
2024
Total
fund5
2024
Total
funds
2023
Donations to A5hmolean
Museum
Governance costs (note 3)
121,360
73,853
174,787
370,000
12,569
382,569
386.500
133,929
73,853
174,787
401,276
The average number olstaff employed by the tn￿totalIed nil (2023: nll). No staff members received
remuneration exceeding £60,000.
Page 12

Ashmolean Museum Endowment Trust
Notes to the financial statements (contlnued)
For theyeaT ended 5 April 2024
Governance costs
Unrestricted
funds
2024
Restrlcted
funds
2024
Total
funds
2024
Total
funds
2023
Legal and professional fees
Audit fees
Fees to auditor for non-audlt services
Bank charges
Foreign exchange (galnJ/loss
3.816
9,870
1,980
746
1.636
14,776
11.063
11,063
722
784
12,569
722
784
12,569
The audlt fee represents costs relating to the provlslon of auditserylces and accounts produaion.
Governance costs were fvlly unrestricted In both the current and prloryears.
Flxed assetinvestments
2024
2023
Llsted Investments
Market value at 6 April 2023
Cash transferred Into fvnd
(Loss) / Galns on investment
Market Wdlue at 5 April 2024
10,755.651
10,907,833
500.000
(652.182
10,755,651
581,455
11337,106
Debtors
2024
2023
Prepayments and accrued incoTne
46,032
42,231
Credltors: amounts falllng due withln one year
2024
2023
Trade creditors and accrua15
10,133
13,709
The above financial instruments are carrled at amortised cosL
Page 13

Ashmolean Museum EndowmentTrust
Notes to the financlal statements (continued)
For the year ended 5 April 2024
Funds
Unrestrlrted DeSi￿ated
funds
runds
2024
2024
Restrlcted
funds
2024
Total
filnds
2024
As at 6 April 2023
Income
Expendi￿re
Reallsed ga5ns
(Loss) / gain on Investments
Transfer between funds
As at 5 April 2024
3,713.852
69
[133,929]
150,638
190,717
8,446
3.929.793
2,423,795
42
[73,853)
91,669
116.060
166,243
2.391.470
5.185,072
99
(174,787)
216,955
274,678
157,797
5.659,814
11,322.719
210
(382,569)
4S9.262
581,455
11,981.077
Prior perlod comparative
Unrestrlrted Desi￿ated
funds
funds
2023
2023
Restricted
funds
2023
Total
funds
2023
As at6 April 2022
Income
Expenditure
Realised galns
(Loss) I gain on investments
Transfer between fund5
at S April 2023
6.496,948
435,202
[142,321)
5,389,027
55,000
(258,955)
11,885,975
490,202
(401,276)
[652,182)
2,423.795
3,713.852
(652.182)
2,423,795
2.423,795
5,185,072
11322,719
The purposes of the restricted and designated fimds are as described in note 1.7.
2023
Incomlng
Outgoing
Transfers
2024
Materlal restrltted and designated funds are:
Selz Curator of Anaent
Egypt and Sudan
Collections
SirArthur Evans Curator of
Greek and Aegean Art
Christopher
Brown
Curator
of Northern
European Art
Curator of Indian Art
Totsl
2,106.026
193,613
(68.820)
(2.338)
2,228,481
1.947,508
179.039
(63,6411)
(2,162)
2,060.745
1,879,571
1.675,762
7,608.867
172.794
(61,420)
(2,086)
1.988,859
154.057
5¢.760
1,860
1.773,199
246.640
699,503 8,051.284
8,446
A transfer between funds was made during the year to increase the comblned level ofrestrirted and
designated ￿ndS ro 67.2% ofthe totsl fvnds. to reflect the donors, wtshes in relation to totsl donations
receive(t These transfer5 do not change the substance of current or historic accounts.
Page 14

Ashmolean Museum Endowment Trust
Notes to the flnandal statements (contlnued)
For the year ended S April 2024
Analysis of netassets between funds (Continued)
Unrestrlcted Designated
funds
funds
2024
2024
Restricted
funds
2024
Total
funds
2024
Fixed assets
Current a55ets
Current liabilities
3.725,375
214.551
10.133
3.929,793
2,260.910
130,560
5.350.821
308.993
11.337.106
654.104
[10.1331
11.981.077
2,391.470
5,659,814
Prlor perlod comparative
General
Unrestricted Deslgnated
funds
nds
2023
2023
Re5tr1cted
funds
2023
Total
funds
2023
Fixed assets
Current assets
Current liabilities
3,146,784
580,777
2.423,795
5,185,072
10,755,651
580,777
13,7091
11,322.719
3,713,852
2,423,795
5.185.072
Trustees. remuneration
The charity did notpayany expenses or emoluments to the Trustees or those connected to the Trustees
during the per50
10 Related partytransactions
The key managemenipersonnel received no remuneration during the current or previous year&
As per note 2. donations were made to the Ashmolean Museum totalling£370.000. DrAlexander SturOs
CBE (a Trustee) is the Director ofthe A%hmolean Museum.
11 Reconaliation of net movement in funds to net cash flow from operating activities
2024
2023
Net movement in funds
InvesttneDts movement
Decrease/(increase) in debtors
(Decrease)/increase in creditors
Net cash generated from operating activities
658,358
(581.455]
(3.801)
3.576
69.526
[563.256}
652,182
(934)
3.899
91.891
12 Analysts ofchanges in netdebt
Foreign
exchange
Cashflow movements At 5 April 2024
At6Aprll2023
Cash at bank and In hand
538,546
538,546
223
223
608.072
608,072
Page 15

Ashmolean Museum EndowmentTrust
Notes to the finanaal statements (continued)
For theyear ended S April 2024
13 Comparative statement of financial activltles
General
Unrestrlrted Designated
funds
funds
2023
2023
Restricted
funds
2023
Total
funds
2023
Income from
Donations and legacies
Investments
io,oio
425.192
55,000
65,010
425,192
Totsl
435,202
55.000
490,202
Expendlture on
Charitable activities
142,321
258,955
401,276
Total
142,321
258,955
401,276
Ga5ns on investments
(652,182)
(652,182]
Net Income/(expenditure)
359.301
203 955
563,256
Transfers between funds
(2,423.795)
2,423,795
Net movement in funds
2,783,096
203,955
563,256
Reconciliation ofcunds:
Totsl funds brought forward
6.496,948
5,389,027
11,885,975
Totsl funds Ca￿led forward
3,713,852
2,423,795
5,185,072
11,322,719
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