Oxford Conservation Consortium Financial Statements For the Year Ended 31st July 2025 Charity Reg no. 1158728 Oxford Conservation Consortium Contents Page Number Trustees, Report Ito5 Independent Examiner's Report Statement of Financial Activities Balance Sheet Cashflow Statement Statement of Accounting Policies 10 Notes to the Financial Statements Ilto14 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 2025, which comply with the Charities SORP IFRS 1021. Reference and administrative details Registration number: 1158728 Trustees: Balliol College Christ Church Corpus Chrlsti College Exeter College Jesus College Lincoln College Magdalen College Merton College Keble College Oriel College Queen's College St Antony's College St John's College Trinity College University College Worcester College Trust Secretary.. Celia Bockmuehl, Head Conservator {appointed 14th October 20241 Reglstered Office: 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 Hlgh Street Branch,121 High Street, Oxford. OXI 4DD Oxford Conservation Consortium Trustees, Report Page 2 Structure, Governance and Management. The Oxford Conservation Consortium {OCCI is a Charitable Incorporated Organisation ICIO) with registered charity number 1158728. OCC'S registered address and principal location of operations is Grove Cottage, St Cr055 Road, Oxford OXI 3TX. OCC is established under a Foundation Constitution registered by the Charity Commission on 30 September 2014. The Trustee5 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, Trinitvi 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-making 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 responslble 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 aspects of the day to day running of OCC. General meetings of Members of OCC take place no less than twice annually. Annual budgets and full year financial accounts are revlewed by Members at general meetings. Risk Management The Management Committee is responsible for reviewing the risk register and ensuring appropriate action Is taken to mitigate risks. The Trust Secretary reviewed the register In the autumn of 2024. All members of OCC staff updated and retook online meta compliance trainlng. The register includes assessing and managing the risks to ensure business continulty and provision of services to Members. Objects, Objectives and Principal activities The objects of the CIO are to advance education for the public benefit, in particular through the preservation 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, was appointed Interim Head of Conservation and Trust Secretary. In October 2024, the OCC Management Committee confirmed her appointment on a permanent basis working four days per week, one from home. Nikkl Tomkins was promoted to Deputy Head Conservator in April 2025. During the period under review, OCC continued to provlde expert collection care and advice to all Members, as well as contractual services to the Oxford Centre for Islamic Studies Ioxcisl. This work encompassed remedial conservation of core collection materials and a range of preventive measures, including environmental monitoring and control, rehousing, digitisation, advice on exhibition loans, pest monitorlng, and interpreting relevant heritage standards for collections, bulldlngs, and displays. Our preventive efforts aim to maintain the highest standards of collection care, strengthen Members, knowledge, and increase public access to their collections. In July 2025, OCC hosted a well-attended one-day symposium for Members, highlighting the breadth of activities we undertake. In September 2024, OCC welcomed paper conservator Allce Derham, whojoined from the British Museum, bringlng our team of conservators to eight. The team continued to oversee the Chantry Library in the absence of a librarlan, welcomlng readers on site and offering a scan-and-deliver service for those unable to attend. Librarians on the Management Committee have generously shared their expertise when needed. A major building project began in July 2024 to replace the studlo roof. Desplte the disruptS0n, OCC'S work continued uninterrupted, and the project was completed successfully in September 2024, resolving many years of coping with intermittent water ingress. Outreach to Members and thelr communities remained a prlority. Three OCC conservators co- authored a paper for the Archive Records Association annual publication, while Jasdip Singh Dhillon presented a paper at the Copenhagen Book and Manuscript Conference. We hosted number of studlo tours for small groups and each conservator engaged in ongoing professional development, Through stewardship of the Chantry Library, OCC continued to promote heritage conservation and highlight the value of Members, historic collections. In addltion to supporting Trustee Members in 2024125, OCC maintained its external contract with Oxcis, delivering both preventive and interventive conservation. This included treatment of two significant volumes and assistance with an incoming loan from the Qatar National Library for an exhibition on astrolabes. Oxford Conservation Consortium Trustees, Report Page 4 Financi31 review and results for the year In the 12 months to 31 July 2025 OCC recorded gross income of £506,302, and a surplus after all Costs of £28, 146. The surplus of £28.146 is from Charitable activities, before transfers between funds. Unrestricted reserves stood at £375,556 on 31 July 2025. The policy of the CIO is to accumulate unrestricted reserves of approximately £200,000 (the equivalent of approximately six months expenditure) for the purposes of continuin8 services and meeting its obligations. Future plans OCC alms to provide a service of excellence in conservation and preservation to all its members through the careful review of our methods and to ensure that good relationships are fostered. The Management Committee is committed to supporting the development of the skills of the OCC team to assist them in reaching the highest standards in their practical conservation skSlls and thereby achieve the best possible outcomes for the protection of the collections for whlch our members care. Bespoke training is planned for mid-career conservators in 2025/26 in collaboration with the Bodleian conservation team (continued from 20241251. OCC continues to strive for improving the utility, useful life, visual and educational impact of heritage objects in our members, collections. We will continue 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. The membership is likely to increase in 2025126 with two f urther approaches from other interested Oxford Colleges. Statement of Trustees, responsibilities The Trustees are responsible for preparing the Trustee5' Report and the flnancial statements in accordance with appllcable law and United Kingdom Accounting Standards Iunlted Kingdom Generally Accepted Accountlng Practicel.The law applicable to charitles in England & Wales requires the Trustees to prepare financial statements for each flnancial year which glve 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 required to: {il Select suitable accounting policies and then apply them consistentlv; {iil Observe the methods and princip5es in the Charities SORP. {iii} Make judgments and estimates that are reasonable and prudent; {iv} State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the f inancial statements; and {v} Prepare the financial staternents 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 responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the f inancial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Declaration of Trust. 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. The Trustee5 have complied with the duty in the Charities Act 2011 to have due regard to publlc benefit guidance published by the Charity Commission. Independent Examiners Moore Kingston Smith acted as Independent Examiners for the year. A resolution to reappoint them will be proposed at the Trustees, Annual Meetlng. On behalf of the Trustees Z Hancock Chair of the Management Cornmittee Date.. C Bockmuehl Trust Secretary Date.. Oxford Conservation Consortium Independent Examiner's Report to the Trustees Page 6 I report to the trustee5 on my examination of the accounts of Oxford Conservation Consortium (the Trust} for the year ended 31 July 2025. Responsibilitie5 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 145151{b) of the Act. Since the charity's gross income exceeded £250,000, I confirm that l am qualified to undertake the examination by being a qualified member of The Institute of Chartered Accountants in England and Wales. Independent examinerfs 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: 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. Adam Fullerton Esq For and on behalf of Moore Kingston Smith LLP 9 Appold Street, London. EC2A 2AP 11 December 2025 Oxford Conservation Consortium Statement of Financial Activities for the Year ended 31 July 2025 Charlty registration number 1158728 Page 7 Note: Unrestricted Restricted Total Unrestricted Restricted Total 2025 2025 2025 2024 2024 2024 Income Contributions 451.487 451,487 443,018 443,018 Other Income 43,625 43,625 39,980 39,980 Bank Interest 11,190 11,190 9,524 9,524 Total Income 506,302 506,302 492.522 492,522 Expenditure Charitable activltles 478,156 478,156 399,862 399,862 Total Expenditure 478,156 478,156 399,862 399,862 Net Income/{Expenditure) 28,146 28,146 92,660 92,660 Transfers between Funds Net movement in Funds 28,146 28,146 92,660 92,660 Balance B/forward l August 347,410 347.410 254,750 254,750 Balance C/forward 31 July 375,556 375,556 347.410 347,410 The notes on pages 10 to 14 form part of these accounts Oxford Conservation Consortium Balance Sheet as at 31 July 2025 Charity registration number 1158728 Page 8 31st July 2025 31stJuly 2024 Note: Current Assets: Bank Accounts Debtors & Prepayments 441,723 4,334 369,765 11,466 446,057 381,231 Creditors: Amounts falling due within one year Creditors & Accruals 70,501 33,821 Net Assets 375,556 347,410 Funds Restricted Funds Unrestricted Funds 375,556 347,410 Total Funds 375,556 347,410 Approved and authorised for issue by the Board of Trustees and signed on its behalf: Z Hancock Chair of the Management Committee Date: f l 1£ J ￿¥S The notes on pages 10 to 14 form part of these accounts Oxford Conservation Consortlum Cash Flow Statement for the Year ended 31 July 2025 Charity registration number 1158728 Page 9 2025 2024 Cash flows from operating activities Net income 28,146 92,660 Elimination of non-operating cash flows: Investment income Decrease in debtors Increase/{decreasel in creditors (11,190) 7,132 36,680 (9,524} 3,353 148,649) Net cash generated by operating activities 60,768 37,840 Cash flow from investing activities Investment income Net cash from investing activities 11,190 11,190 9,524 9,524 Change in cash and cash equivalents in the year 71,958 47,364 Cash and cash equivalents at the beginning of the year 369,765 322,401 Cash and cash equivalents at the end of the year 441,723 369,765 Oxford Conservation Consortium Statement of Accounting Policies for the Year ended 31st July 2025 Page 10 Accounting Policies • Basis of Preparation OCC is a public benefit entity. The financial statements have been prepared under the historical cost convention. The financial statements have been prepared in accordance with the Charities SORP {FRS 102), 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 Activities on a receivable basis. Expenditure All expenditure is accounted for on an accruals basis and has been classified under appropriate expenditure headings. Expenditure on equipment 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. Restricted Funds are limited to supporting the operating costs of the Chantry Library. Pensions Pension costs, which consist of contributions to a multi-employer defined benefit 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 going concern. The Charity has prepared forecasts, taking into account the potential pressures on income, which confirm the Charity wi51 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 Financial Statements for the Year ended 31st July 2025 Page 11 2025 2024 Contributions were: Balliol Christ Church Corpus Christi Exeter Jesu5 Keble Lincoln Magdalen Merton Oriel Oxford Centre for Islamic Studies Queen's St Antony'5 St John's Trinity Universitv Worcester 20,420 43,886 36,827 12,215 20,420 12,215 36,827 50,943 29,768 20,420 12,215 29,768 12,215 50,943 20,420 29,768 12,215 451,487 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 Unrestrlcted Restrlcted Total Total 2025 2025 2025 2024 Other income for the year includes: Trust Fund income Project income Other income Donation Grants 29,817 10,710 3,098 29,817 10,710 3,098 28,641 6,932 1,632 2,775 39,980 43,625 43,625 Oxford Conservation Con50rtium Notes to the Financial Statements for the Year ended 31st July 2025 Page 12 Unrestricted Restricted 2025 Total 2025 Total 2024 2025 Expenditure includes: Staff Sala ries National Insurance Pension Contributions Administration services Office Rental Operating costs Independent Examiner's Fees Legal & Professional Fees 273,700 14,739 35,087 57,724 61,701 33,135 2,070 273,700 14,739 35,087 57,724 61,701 33,135 2,070 220,100 16,475 17,860 54,902 60,744 27,735 2,046 478,156 478,156 399,862 In 2024 two staff were employed by Magdalen College and Seconded to OCC, four further staff were employed directly by OCC. In 2025 two staff were employed by Magdalen College and seconded to OCC, with six staff employed directly by OCC. AII salary cost5 are recharged to OCC in full and no individual's emoluments exceeded £60,000 in 2025 or 2024. 2025 2024 Oebtors & Prepayments Trade Debtors Prepayments & accrued income 2,280 2,054 4,334 1,647 9,819 11,466 2025 2024 Creditors falling due within one year: Magdalen College Accrued expenses 60,380 10,121 70,501 31,811 2,010 33,821 Oxford Conservation Consortium Notes to the Financial Statements for the Year ended 31st July 2025 Page 13 Restricted Funds All financial activity in the year to 31 July 2025 related to unrestricted funds.The balance on restricted funds at 31 July 2025 wa5 £nil. Lease Commitments The office lease expired on 31st July 2025 and a new lease was agreed in Sept 2025 for the next five years. There will be a review on the fifth anniversary of the tenancy. 2025 2024 Rent due under the lease agreement, excluding VAT: Due within one year Due between l and S years Due after 5 years 50,620 9 Analysis of Net Assets by Fund Unrestrlcted Restrlcted Total Total 2025 2025 2025 2024 Net Current Assets 375,556 375,556 347,410 Total net Assets by Fund 375,556 375,556 347,410 Oxford Conservation Consortium Notes to the Financial Statements for the Year ended 31st July 2025 Page 14 9 Analysis of Net Assets by Fund12024 comparative) Unrestricted Restricted Total 2024 Total 2024 2024 2023 Net Current Assets 347,410 347,410 254,750 Total net Assets by Fund 347,410 347,410 254,750 10 Trustees, Remuneration 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 Tru5teel, office rental is payable to Merton College la Trusteel, 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 including national insurance and pension costs amounted to £57,361 (2024: £49,842) at 0.8 FTE. 11 Trustee Donations Magdalen College donated trust fund income of £29,817 during the year {2024: £28,641). 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 £57,72412024'. £54,902). Merton College supplies office accommodation £61,70112024: E60,7441. During the year two college5 paid for additional project work, Keble College £8,95212024: £3,672) and Christ Church College £3,798 (2024: £5,194).