Oxford Conservation Consortium Financial Statements For the Year Ended 31st July 2024 Charity Reg no. 1158728 Oxford Conservation Consortium Contents Page Number Trustees, Report Ito5 Independent Examiner's Report Statement of Financial Activities Balance Sheet Statement of Accounting Policies Notes to the Financial Statements IOto13 Oxford Conservation Consortium Trustees, Report Page I The Trustees present their annual report together with the financial statements for the 12 months to 31st July 2024, which comply with the Charities SORP IFRS 1021. Reference and administrative details Registration number: 1158728 Trustee5'. Balliol College Christ Church Corpus Christi College Exeter College Jesus College Lincoln College Magdalen College Merton CollegÈ Keble College Oriel Colle8e Queen's College St Antony'5 College St John's College Trinity College University College Worcester College Trust Secretary: Celia Bockmuehl, Head Conservator lappolnted 14th October 20241 Reglstered Offlce: Grove Cottage, St Cross Road, Oxford. OXI 3TX Independent Examiners: Moore Kingston Smith LLP 9 Appold Street, London. EC2A 2AP Bankers: National Westminster Bank PIC Oxford High Street Branch,121 Hi8h Street, Oxford. OXI 4DD Oxford Conservation Consortium Trustees, Report Page 2 Structure, Governance and Management. The Oxford Conservation Consortium IOCC) is a Charitable Incorporated Organisation ICIOI with registered charity number 1158728. OCC'S registered address and principal location of operations is Grove Cottage, St Cross Road, Oxford OXI 3TX. OCC is established under a Foundation Constitution registered by the Charity Commission on 30 September 2014. The Trustees of OCC, all colleges within the University of Oxford, are Balliol, Christ Church. Corpus Christi, Exeter, Jesus, Keble, Lincoln, Magdalen, Merton, Oriel, Queen's, St Antony's, St John's, Trinity, University and Worcester. All were Trustees for the full period under review in this Trustees, Report, All Trustees are also Members of OCC. The organisation and decision-maklng processes of OCC are described in documented Rules which were approved at a general meeting of Members on 12 December 2014. There Is a Management Committee comprised of at least five and not more than nine people, each elected for a three year term at a general meeting of Members. which is responsible for the overall direction and management of OCC. The Head Conservator, who is an ex officio member of the Management Committee, is responsible for all aspect5 of the day to day running of OCC. General meetings of Members of OCC take place no less than twlce annually. Annual budgets and full year flnanclal accounts are reviewed by Members at general meetings. Risk Management The Management Committee is responsible for reviewing the risk register and ensuring appropriate action is taken to mSti83te risks. Celia Bockmuehl updated the register in September 2024. All members of OCC staff have undertaken online meta compliance training. The re8lster Includes assessing and managing the risks to ensure business continuity and provision of services to Members which in this period included continuation of work during major building work. Objects, Objectives and Principal activities The objects of the CIO are to advance education for the public benefit, in particular through the preservatlon and maintenance of educational and historic materials and documents. These objects are achieved primarily by providing a broad range of conservation and preservation services for Members of OCC who pay for these services on the basis of an annual subscription. Oxford Conservation Consortium Trustees, Report Page 3 Achievements and Performance On l August 2023, OCC'S Senior Conservator, Celia Bockmuehl, w35 appointed as Interim and on 14th October 2024 Head of Conservation and Trust Secretary. In the period under review OCC continued to provide collertion care expertise and advice to all OCC Members. This included remedial conservation treatment of core collection materials, and preservation actlvities such as environmental monitoring and control, rehousin& digitisation, and advising on exhibltlon loans, pest monitoring, and the Interpretatlon of standards relating to heritage collections, bulldings, and display. Through our preventive work we aim to enhance the Members knowledge and thereby increase accessibility of their collections to students and wider members of the community. In 2023-24 there was a signif icant increase in the number of loans with which OCC was involved which further extended the reach of the collections both within Oxford and beyond. OCC was short staffed following the resignation ofjane Ea8an and Katerina Powell In 2023 but nevertheless fulfilled all obli83tlons to Members. In January 2024 a junlor conservator was appointed, Initially on a one-year Contract, which has helped to address the shortfall and a further part-tlme conservator was appointed from August 2024. The Chantry Library Ilbrarlan retlred at the end of March 2023 and the management committee took the decision to freeze the post and review the demands for a librarian in the next financlal year. The Ilbrarians on the management committee have agreed to provide assistance in this Interim period. Despite this chan8e of circumstance, readers continued to be welcomed to the library to undertake research and requests for scans of articles unavailable elsewhere, were also fulfilled by the OCC conservation team. In July 2024, a major building project was started to replace the roof of the main studio and office at OCC due to persistent and ongoing leaks which had continued for many years. This work involved a total replacement of the existing roof and precautions had to be made to ensure safety of staff and studio contents, including Members, objects. Work was able to continue and no days were lost despite the disruption, Through publications, studio tours, presentations, professional activities, and by maintaining the Chantry Library, OCC continued to raise the profile of heritage conservation and demonstrated the value of the historic librarylarchive collections of its members. In 2023124, OCC continued to supply conservation and preservation services to the Oxford Centre for Islamic Studies IOCIS), via an external contract. Interventive conservation was undertaken and assistance given with the mounting of a major exhibition for an event they hosted in March 2024. Oxford Conservation Consortium Trustees, Report Page 4 Financial review and results for the year In the 12 months to 31 July 2024 OCC recorded gross income of £492,522, and a surplus after all costs of £92,660. The surplu5 of £92,660 15 from Charitable activities, before transfers between fund5. Unrestricted reserves stood at £347,410 on 31 July 2024. The policy of the CIO is to accumulate unrestricted reserves of approximately £200,IXIO {the equivalent of approximately six months expenditure) for the purposes of continuing services and meetin8 Its obllgatlons. Future plans OCC plans to continue improving its services to members, building relatlonshlps, sharlng knowledge, and developing the skills of the conservatlon team. Our alm is to continue to improve the utility, useful life, vlsual and educational Imp3Ct of herltage objects in our members, ollections. We will contlnue to promote the Chantry Library as an important source of information about the development of the conservation profession in the UK. information about materials and techniques for practicing conservators. and for promotion of the importance of cultural heritage materials. There were three enquiries from Oxford Colleges/institutions that are not currentlv members of OCC- a testament to the excellent reputation of OCC withln the Oxford community. Statement of Trustees, responsibilities The Trustees are responsible for preparlng the Trustees, Report and the financlal statements In accordance wlth appllcable law and United Kingdom Accounting Standards (United Klngdom Generally Accepted Accounting Practicel.The law applicable to charities in England & Wales requires the trustees, to prepare financial statements for each financial year which give a true and fair view of the state 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 requlred to: 11) Select suitable accounting policies and then apply them consistently; 1111 Observe the methods and principles in the Charities SORP,. liiil Make judgments and estimates that are reasonable and prudent: livl State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and Iv) Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. Oxford Conservation Consortium Trustees, Report Page 5 The Trustees are responslble for keeping proper accountin8 records that disclose with reasonable accuracy at any time the financlal position of the charity and enable them to ensure that the flnancial statements comply with the Charlties Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provlslons of the Declaration of Trust. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the preventlon and detection of fraud and other irre8ularltles. The Trustees have complied wlth the duty In the CharSties Act 2011 to have due re8ard to publlc beneflt guldance published by the Charlty Commlsslon. Independent Examiners Moore Kingston Smlth acted as Independent ExamlnÈrs for the year. A resolutlon to reappolnt them wlll be proposed at the Trustees, Annual Meetlng. On behalf of the Trustees Z Hancock Chalr of the Management Commlttee C Bockmuehl Trust Secretary Date.. io I i& 1 ## **Oxford Conservation Consortium** Independent Examiner's Report to the Trustees Page 6 I report to the trustees on my examination of the accounts of Oxford Conservation Consortium (the Trust) for the year ended 31 July 2024. - Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Since the charity's gross income exceeded £250,000, I confirm that I am qualified to undertake the examination by being a qualified member of The Institute of Chartered Accountants in England and Wales. - Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Luke Holt FCA For and on behalf of Moore Kingston Smith LLP 9 Appold Street, London. EC2A 2AP 11 December 2024 Oxford Conservation Consortium Statement of Financial Activities for the Year ended 31 July 2024 Charity registration number 1158728 Page 7 Note: Unrestritted Restricted 2024 2024 Total Unrestricted Restricted Total 2024 2023 2023 2023 Income Contributions 443,018 443,018 420.048 420,048 Other Income 39,980 39.980 29.453 104 29,557 Bank Interest 9,524 9.524 4,522 4,522 Total Income 492,522 492,522 454,023 104 454,127 Expenditure Charitable actlvities 399,862 399,862 454,157 6,490 460,647 Total Expenditure 399.862 399,862 454,157 6,490 460,647 Net Income/(Expenditure) 92,660 92.660 11341 16,386} 16,5201 Transfers between Funds 16,3861 6,386 Net movement in Funds 92,660 92,660 16,5201 16,5201 Balance Blforward l August 254,750 254,750 261,270 261,270 Balance C/forward 31 July 347,410 347,410 254,750 254,750 The notes on page5 9 to 13 form part ofthese accounts Oxford Conservation Consortium Balance Sheet as at 31 July 2024 Charity registration number 1158728 Page 8 31st July 2024 31stJuly 2023 Note: Current Assets: Bank Accounts Debtors & Prepayments 369,765 11,466 322,401 14,819 381,231 337,220 Creditors: Amounts falling due withln one year Credltors & Accruals 33,821 82,470 Net Assets 347,410 254,750 Funds Restricted Funds Unrestricted Funds 347,410 254,750 Total Funds 347,410 254,750 Approved and authorised for issue by the Board of Trustees and signed on its behalf: Z Hancock Chair of the Management Committee Date: lo)1 Izll The notes on pages 9 to 13 form part ofthese accounts Oxford Conservation Consortium Notes to the Accounts for the 12 months to 31st July 2024 Page 9 Accounting Policies Basis of Preparation OCC is a public benefit entity. The financial statements have been prepared under the historical cost convention. The financial statement5 have been prepared in accordance with the Charlties SORP (FRS 1021, and the Charities Act 2011. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts are rounded to the nearest pound. • Income All Income Is included in the Statement of Financial Activitles on a receivable basls. Expenditure All expenditure is accounted for on an accruals basis and has been classified under approprlate expenditure headings. Expendlture on equlpment is expensed in the year of purchase. Fund Accounting Unrestricted funds are funds which are available for use at the discretion of the Trustees In furtherance of the general objectives of the Charity. Restrlcted Funds are limited to supporting the operating costs of the Chantry Library. Pensions Pension costs, which consist of contributlons to a multl-employer deflned beneflt scheme and Nest are accounted for in the period they fall due. Going Concern The Trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the Charity to continue as a golng concern, The Charity has prepared forecasts, taking into account the potential pressures on income, which confirm the Charity will have sufficient liquidity to operate for at least the next twelve months from the date of approval of these financial statements. The Charity therefore continues to adopt the going concern basis in preparing its financial statements. Oxford Conservation Consortium Notes to the Accounts for the 12 months to 31st July 2024 Page 10 2024 2023 Contributions were: Balliol Christ Church Corpus Christi Exeter Jesus Keble Lincoln Magdalen Merton Oriel Oxford Centre for Islamic Studies Queen's St Antony's St John's Trinity University Worcester 20,037 43,062 36,137 11,986 20,037 11,986 36,137 49,987 29,210 20,037 11,986 29,210 11,986 49,987 20,037 29,210 11,986 443,018 19,300 41,478 34,807 11,545 19,300 11,545 34,807 48,148 28,135 19,300 11,545 28,135 11,545 41,478 19,300 28,135 11,545 420,046 Unreslricted Restricted Total Total 2024 2024 2024 2023 Other income for the year Includes.. Trust Fund income Project income Other income Donation Grants 28,641 6,932 1,632 28,641 6,932 1,632 27,433 2,020 104 2,775 39,980 2,775 39,980 29,557 Oxford Conservation Consortium Note5 to the Accounts for the 12 months to 31st July 2024 Page 11 Unrestricted Restrlcted 2024 Total 2024 Total 2024 2023 Expenditure includes". Staff Salaries National Insurance Pension Contributions Administration services Office Rental Operatlng costs Independent Examlner's Fees Legal & Professional Fees 220,100 16.475 17,860 54,902 60,744 27,735 2,046 220,100 16,475 17,860 54,902 60,744 27,735 2,046 260,070 19,693 27,193 51,797 60,771 39,209 1,914 399,862 399,862 460,647 In 2023 four staff were employed by Magdalen College and seconded to OCC, four further staff were employed directly by OCC. In 2024 two staff were employed by Magdalen College and seconded to OCC, with four staff employed directly by OCC. All salary costs are recharged to OCC in full and no individual's emoluments exceeded £60,000 in 2024 or 2023. 2024 2023 Debtors & Prepayments Trade Debtors Prepayment 1,647 9,819 11,466 14,819 14,819 2024 2023 Creditors falling due within one year: Magdalen College Accrued expenses 31,811 2,010 33,821 80,591 1,879 82,470 Oxford Conservation Consortium Note5 to the Accounts for the 12 months to 31st July 2024 Page 12 Restricted Fund5 All f inancial activity in the year to 31 July 2024 related to unrestricted funds. In the year to 31 July 2023, net expenditure of £6,386 was charged to the Chantry Library during the year, a transfer from the unrestricted funds of £6,386 was made to cover the costs. The balance on restricted funds at 31 July 2024 was £nil. Lease Commitments The lease of the office is for a period of 10 years from 1st August 2015. There was a rent review on the fifth anniversary of the tenancy and the rent was agreed at £50,620 per annum plus VAT from December 1st 2020. 2024 2023 Rent due under the lease agreement, excluding VAT: Due within one year Due between l and 5 years Due after 5 years 50,620 50,620 50,620 Analysis of Net Assets by Fund UnrestrScte(I Restricted Total Total 2024 2024 2024 2023 Net Current Assets 347,410 347,410 254,750 Total net Assets by Fund 347,410 347,410 254,750 Oxford Conservation Consortium Notes to the Accounts for the 12 months to 31stJuly 2024 Page 13 Analysis of Net Assets by Fund {2023 comparative) Unrestricted Restricted Total Total 2022 2023 2023 2023 Net Current Assets 254,750 254,750 261,270 Total net Assets by Fund 254,750 254,750 261,270 10 Trustees, Remuneratlon Trustee colleges receive no remuneration other than the services covered by Member contributions, detailed in Note 3. Administration services and staff are supplied by Magdalen College la Trustee), office rental is payable to Merton College {a Trustee), detailed in Note 5. No expenses were reimbursed to Trustee college. Key Management is considered to be the Head Conservator, employed by Magdalen College and seconded to OCC. Total remuneration excluding national insurance and Including pension costs amounted to £46,075 {2023., £35,791) at 0.65 FTE. 11 Trustee Donations Magdalen College donated trust fund income of £28,641 during the year {2023: £27,433). No other donations were made by any trustee college. 12 Related Party Transactions All trustee colleges pay an annual subscription, see note 2. Magdalen College employs the Staff seconded to OCC and through a service agreement, supplies accounting, human resources and IT support £54,90212023: £51,797). Merton College supplies office accommodation £60,74412023.. £60,771). In the year Keble paid for Conservation and Exhibition work £3,672, Christ Church College paid for Work on Manuscript5, Exhibition work and 4 additional day5 work £5,194.12023: The following colleges paid for conservation training during the year. Christ Church College £213, University College £106, Jesus College £53, Balliol College £106, Magdalen College £538 and Merton College £177.)