## **Trustees’ Annual Report for the period**
**From 01/01/2021 Period start date To 31/12/2021 Period end date**
## **Charity name: Oliver Heaton Trust**
## **Charity registration number: 1165051**
## **Objectives and Activities**
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SORP reference
Summary of the Para 1.17 To further such religious purposes in
purposes of the charity the THE PARISH OF SS PHILIP & JAMES
as set out in its WITH ST MARGARET IN THE CITY OF
governing document OXFORD as the Vicar and
churchwardens of the said parish shall
in their absolute discretion think fit.
Summary of the main Para 1.17 and The charity’s principal activity is to
1.19
activities in relation to make grants to support activities in
those purposes for the line with its charitable purpose, as set
public benefit, in out above.
particular, the activities,
projects or services
identified in the
accounts.
Statement confirming Para 1.18 The trustees have had regard to the
whether the trustees Charity commission guidance on
have had regard to the public benefit.
guidance issued by the
Charity Commission on
public benefit
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## **Additional information (optional)**
You may choose to include further statements where relevant about:
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SORP reference
All applications for grants must be
Para 1.38 considered and approved as being
Policy on grant making appropriate by the PCC before the
trustees consider them.
Para 1.38
Policy on social
investment including
program related
investment
The charity’s activities in reviewing
Para 1.38 grant applications and making grants
Contribution made by are carried out entirely by the
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volunteers trustees, who are volunteers. The
charity itself does not carry out other
activities, except to manage its
assets.
Other The church is an Anglican parish
church, but is open to all, irrespective
of residence or faith.
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## **Achievements and Performance**
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SORP reference
In 2021, OHT agreed to provide
funding for
continuing the cost of
Summary of the main Para 1.20 extending the associate Priest
achievements of the post to full-time (cost shared
charity, identifying the with St Giles Church, Oxford)
difference the charity’s continuing funding of children’s
work has made to the worker (100%)
circumstances of its architect’s and lighting
beneficiaries and any consultant fees and other costs
wider benefits to society for the church’s reordering
as a whole. programme (100%)
continuing grant to SAMS (a
weekly craft group at church for
children)
embroidered kneelers
loan to PCC for cost of church
aisle roof repair
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## **Additional information (optional)**
You may choose to include further statements where relevant about:
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All grants were in line with the
charitable objectives
Achievements against Para 1.41
objectives set
Performance of
fundraising activities Para 1.41
against objectives set
See financial report
Investment performance Para 1.41
against objectives
Other
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## **Financial Review**
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Review of the charity’s Para 1.21 Total funds carried forward:
financial position at the £2,773,869.18
end of the period
Statement explaining Para 1.22 Reserves are not held
the policy for holding
reserves stating why
they are held
Amount of reserves held Para 1.22 None
Reasons for holding zero Para 1.22 The charity does not have continuing
reserves obligations beyond those already
agreed in grants. Investments are
sufficient to meet current obligation
without difficulty.
Details of fund materially Para 1.24 None
in deficit
Explanation of any Para 1.23 None
uncertainties about the
charity continuing as a
going concern
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## **Additional information (optional)**
You may choose to include further statements where relevant about:
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The charity’s assets are invested
partly in COIF funds and partly in
The charity’s principal property which is let. The sole source
sources of funds Para 1.47 of charitable income is the return on
(including any these investments.
fundraising)
Investment policy and
objectives including any Para 1.46
social investment policy
adopted
All forms of investment are subject to
risk. In 2021, the rental housing
A description of the Para 1.46 market experienced considerable
principal risks facing the fluctuation, and is likely to continue to
charity do so.
Other
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## **Structure, Governance and Management**
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Description of charity’s
trusts:
Type of governing Para 1.25 Trust deed
document
(trust deed, royal
charter)
How is the charity Para 1.25 The charity is a charitable trust
constituted? constituted according to its trust deed
(e.g unincorporated
association, CIO)
Trustee selection Para 1.25 There must be at least 3 trustees
methods including each of whom serves for a term of 3
details of any years, renewable. Trustees must be
constitutional provisions 18 years or older and are appointed
e.g. election to post or having regard to the skills, knowledge
name of any person or and experience needed for the
body entitled to appoint effective administration of the charity.
one or more trustees There are currently five trustees,
including the vicar and two
churchwardens. Following the
retirement of the vicar in November
2020 there was a vacancy for the
incumbent as trustee, until the new
vicar was installed on 30/11/2021.
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## **Additional information (optional)**
You may choose to include further statements where relevant about:
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All trustees have regard to the
policies of the charity.
Policies and procedures
adopted for the Para 1.51
induction and training of
trustees
The charity’s
organisational structure Para 1.51
and any wider network
with which the charity
works
The Oliver Heaton trust is
independent of the PCC of St
Relationship with any Para 1.51 Margaret’s with St Philip and St
related parties James, but by its constitution may
only approve grants which have
already been considered and
approved by the PCC as being
worthwhile and in line with the aims
of the PCC.
Other
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## **Reference and Administrative details**
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Charity name Oliver Heaton trust
Other name the charity OHT
uses
Registered charity 1165051
number
Charity’s principal 24 Navigation Way,
address Oxford
OX2 6XW
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## **Names of the charity trustees who manage the charity**
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Name of person (or body)
Dates acted if not for
Trustee name Office (if any) entitled to appoint trustee
whole year
(if any)
Rev Andrew To 30/11/2020 Ex officio (vicar)
1
Bunch
2 Dr Hugh Series Chair Churchwarden (ex officio)
Christopher Treasurer
3
Levick
Prof Richard Churchwarden (ex officio)
4
Cooper
5 Uta Balbier From 13/05/2020
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
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Corporate trustees – names of the directors at the date the report was approved **Director name**
Name of trustees holding title to property belonging to the charity
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Trustee name Dates acted if not for
whole year
Diocesan Trustees
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(Oxford) Ltd
## **Funds held as custodian trustees on behalf of others**
Description of the assets None held in this capacity
Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets
## **Additional information (optional)**
## **Names and addresses of advisers (Optional information)**
**Type of Name Address adviser**
**Name of chief executive or names of senior staff members (Optional information)**
## **Exemptions from disclosure**
Reason for non-disclosure of key personnel details
## **Other optional information**
## **Declarations**
**The trustees declare that they have approved the trustees’ report above.**
**Signed on behalf of the charity’s trustees**
**Signature(s)**
**Full name(s)** Dr Hugh George Series
**Position (eg** Chair **Secretary, Chair, etc)**
**Date** 21/02/2022
## **Oliver Heaton Trust**
## **Accounts for year to 30th December 2021**
||£||£|
|---|---|---|---|
|**Source of Funds**|**To 31st Dec 2020**||**To 31st Dec 2021**|
|Receipts||||
|Interest - CAF Gold|0.82||0.22|
|COIF Investment Income|28,111.19||28,669.62|
|Net Income from Leader's Management|60,206.87||58,805.97|
|**Total Receipts**|**88,318.88**||**87,475.81**|
|Payments||||
|Bank charges|60.00||96.00|
|Grants|79,242.20||42,322.29|
|**Total Payments**|**79,302.20**||**42,418.29**|
|Surplus/(defcit) to date|**9,016.68**||**45,057.53**|
|**Buy to let acquisitions**||**2021 Change**||
||£|£|£|
|35 Coxs Ground|526,115.42|-|526,115.42|
|5 Radley Place|418,371.45|-|418,371.45|
|2 Badgers Close|175,965.48|-|175,965.48|
|18 The Publishing House|203,467.40|-|203,467.40|
|1 The Publishing House|159,728.55|-|159,728.55|
|2 The Publishing House|144,909.21|-|144,909.21|
|3 The Publishing House|162,340.99|-|162,340.99|
|4 The Publishing House|201,780.31|-|201,780.31|
|**Capital Costs**|**1,992,678.81**|-|**1,992,678.81**|
|**Balance Sheet**|**31st Dec 2020**|**2021 Change **|**31st Dec 2021**|
|Assets and Liabilities|£|£|£|
|Buy to let aquisitions - historic cost|1,992,678.81|-|1,992,678.81|
|Prepayments/accrued expenses|- 7,063.89|2,549.90|- 4,513.99|
|Loan - St Ms|-|26,500.00|26,500.00|
|Cash at CAFBank current account|50,191.91|8,803.24|58,995.15|
|Cash at CAFBank Gold|1,004.82|7,204.39|8,209.21|
|COIF Charity Investment - historical cost|692,000.00|-|692,000.00|
|**Total**|**2,728,811.65**|**45,057.53**|**2,773,869.18**|
|**Fund Value - historic cost**|**2,728,811.65**|**45,057.53**|**2,773,869.18**|
|**COIF Charity Fund value at bid price at 31st Dec 2021**|**974,577.38**||**1,096,423.27**|
|_Unrealised surplus_|_282,577.38_|_121,845.89_|_404,423.27_|
Independent examinerfs report lo the trustees of the Ollver Heaton Trust
I report on the 3ctounis of ihe Trust for the year ended 31 December 2021, which consist of iwo
pages of accountslsections A and Bl and lin Section Cl Notes 3. 6, 13. 17. 19, 20 and 24.
Respertive responsibilities of trustee5 and examineT
The charity's trustees are responsSble fof the preparation of the accounts. The charitys trustees
con51der that an ¢1udil is not required (Dr thi5 year under sedion 144121 of the Charittes Act 2011 Ithe
2011 Actl and that an independent examination is needed,
It is rny responsibility to-.
examine the accounts under section 145 of the 2011 Act
follow the proce(Jures laid down in the Eeneral Directions given by the commi55ion under
section 14515llbl of the 2011 Act
stale whether particular matters h3ve come to my atientton
Ba515 01 independent examiner's report
My emamirtation was tarrièd out in accordance with the Eeneral Direttions given by the Charity
Commission. An exttmin3tion includes a review of the atcouniing records kept by the chafily and
comparison of the accounts presented with those record5. It a150 includes ct)nsideraEiofi of any
unusual item5 or disclosure5 In the account5 and Seeking explanation5 frotn YQU a5 tru5tCC5
conceming any such matters. The procedures undertaken do not provide all the evidence that would
be required in an audit and consequently no opinion is given as to whether the accounts present
true and fair view and the report is limited to those mètters set out in the next statement.
Independent examinerfs ststement
In tonnection with my examination, no matter has come to my attention:
Ihal BIvE5 me reasonable tause to believe that in any material respect the requirements:
to keep accounting records in accord3nce with section 130 of the 2011 Act and
to prepare accounts that accord with the accounting record5 and comply with the
accounting Tequrrements of the 2011 Act
have not been met or
io which in my opinion attention should be dfawn in order to enable a proper undefstanding
of the accounts to be reached,
Name.. Tom C*er
Relevant professional qualification or body.. formerly practiced as chartered accountant IACA.
qualified 19961
Address= 59 Chalfont Road Oxford OX2 6T1
Dote.. 31 Au8USt 2022
Signature=