Trustees’ Annual Report for the period
From 01/01/2023 Period start date To 31/12/2023 Period end date
Charity name: Oliver Heaton Trust
Charity registration number: 1165051
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | To further such religious purposes in the THE PARISH OF SS PHILIP & JAMES WITH ST MARGARET IN THE CITY OF OXFORD as the Vicar and churchwardens of the said parish shall in their absolute discretion think fit. |
| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. |
Para 1.17 and 1.19 |
The charity’s principal activity is to make grants to support activities in line with its charitable purpose, as set out above. |
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | The trustees have had regard to the Charity commission guidance on public benefit. |
Additional information (optional) You may choose to include further statements where relevant about:
SORP reference |
||
|---|---|---|
| Policy on grant making | Para 1.38 | All applications for grants must be considered and approved as being appropriate by the PCC before the trustees consider them. |
| Policy on social investment including program related investment |
Para 1.38 | |
| Contribution made by volunteers |
Para 1.38 | The charity’s activities in reviewing grant applications and making grants are carried out entirely by the 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.
Achievements and Performance
| SORP reference | ||
|---|---|---|
| Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
Para 1.20 | In 2023, OHT ceased contributng to the cost of the associate Priest post which has become part-tme. contnued funding of children’s worker (100%) paid for a First Aid course loaned money to St Margaret’s for guter repairs contnued the grant to SAMS (a weekly craf group at church for children) |
Additional information (optional) You may choose to include further statements where relevant about:
Achievements against objectives set |
Para 1.41 |
All grants were in line with the charitable objectives |
|---|---|---|
| Performance of fundraising activities against objectives set |
Para 1.41 | |
| Investment performance against objectives |
Para 1.41 | See financial report |
| Other |
Financial Review
| Financial Review | ||
|---|---|---|
| Review of the charity’s financial position at the end of the period |
Para 1.21 | Total funds carried forward: £2,609,243.37 |
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | Reserves are not held |
| Amount of reserves held | Para 1.22 | None |
| Reasons for holding zero reserves |
Para 1.22 | The charity does not have continuing obligations beyond those already agreed in grants. Investments are sufficient to meet current obligation without difficulty. |
| Details of fund materially in deficit |
Para 1.24 | None |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 | None |
Additional information (optional) You may choose to include further statements where relevant about:
The charity’s principal sources of funds (including any fundraising) |
Para 1.47 |
The charity’s assets are invested partly in COIF funds and partly in property which is let. The sole source of charitable income is the return on these investments. |
|---|---|---|
| Investment policy and objectives including any social investment policy adopted |
Para 1.46 | |
| A description of the principal risks facing the charity |
Para 1.46 | All forms of investment are subject to risk. In 2023, the rental housing market experienced considerable fluctuation, and is likely to continue to do so, hence the decision to sell the properties. |
| Other |
Structure, Governance and Management
| Description of charity’s trusts: |
||
|---|---|---|
| Type of governing document (trust deed, royal charter) |
Para 1.25 | Trust deed |
| How is the charity constituted? (e.g unincorporated association, CIO) |
Para 1.25 | The charity is a charitable trust constituted according to its trust deed |
| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees |
Para 1.25 | There must be at least 3 trustees each of whom serves for a term of 3 years, renewable. Trustees must be 18 years or older and are appointed having regard to the skills, knowledge and experience needed for the effective administration of the charity. There are currently five trustees, including the vicar and two churchwardens. |
| Additional information (optional) You may choose to include further statements where relevant about: |
Additional information (optional) You may choose to include further statements where relevant about: |
Additional information (optional) You may choose to include further statements where relevant about: |
|---|---|---|
| Policies and procedures adopted for the induction and training of trustees |
Para 1.51 | All trustees have regard to the policies of the charity. |
| The charity’s organisational structure and any wider network with which the charity works |
Para 1.51 | |
| Relationship with any related parties |
Para 1.51 | The Oliver Heaton trust is independent of the PCC of St Margaret’s with St Philip and St 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 |
Reference and Administrative details
| Charity name | Oliver Heaton trust |
|---|---|
| Other name the charity uses | OHT |
| Registered charity number | 1165051 |
| Charity’s principal address | Court Place Barn, 33C Oxford Road, Old Marston, Oxford OX3 0PQ |
Names of the charity trustees who manage the charity
| 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 |
Trustee name | Office (if any) | Dates acted if not for whole year |
Name of person (or body) entitled to appoint trustee (ifany) |
|---|---|---|---|---|
| Rev Daniel Walters | Ex officio(vicar) | |||
| Dr Hugh Series | ||||
| Christopher Levick | Treasurer | |||
| Prof Richard Cooper |
Chair | Churchwarden (ex officio) | ||
| Tom Plant | Churchwarden(ex officio) | |||
– 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
| Trustee name | Dates acted if not for whole year | |
|---|---|---|
| Diocesan Trustees (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) Position (eg Secretary, Chair, etc) Date |
||
|---|---|---|
| Professor Richard Anthony Cooper |
||
| Chair | ||
| 08/01/2025 | ||
| 08/01/2025 |
Oliver Heaton Trust Accounts for year to 31st December 2023 ToJtsttk¢ 2022 To315tlk¢ 2023 Sourctol Funds Income Interest prof0 saleof s.997.43COIF units COIF InvÈStment Incorne Net Income from Leader's Paanagement Proflllllossl on piopertyd15posal Totsil IncL¥ll• Expendlture Bank charges Grants 126.30 33,450.78 27,M.12 60570.13 847. 34,963.60 43.583.11 23.586.58 55W.93 121,937.33 81.00 172,620.25 24,837.92 Toi•l£xpendliUrn I?I701.25 7.92 Surpluslldeficktl todate before ImpalimEnt olpfopÈrty August 2023 10% Impairment marketvalue adl. 00fi¢114fterlmylrment 50.763.92 .91ty01 144,771. 113.861 S0,Y63.92 Bwto let•(qu1%10 20ZjChae 35 CoxsGround 5 Radley PIKe 2 Bad8ers Close 18The Pub115hin8Hou$e l The Publlshln8 House 2The Publlshln8 House 3 The Publlshlng House 41he PubllshlngHouse Capll4lt061S 2023 10% Impalrment . rnarkei valueadl. IMp•lr•d t4plt•l ct Forsgle Sold S26,115.4Z 419,422.43 I75.5.4& 207,471.77 159,728.55 I4,59.21 163,272.99 201,?BO.31 1,99&66&16 . 550,Y7.17 144.771.9) 1,99&666.L6 . 695.719.07 2,748.97 419122.43 32B,864.39 175.965.48 211,125.77 185,073.83 I44,.21 3,654.LKI 25,345.28 Forsale Sold Forsale 163,272.99 201.7.31 IA47.?1&99 144.771.50 I.917.09 ¢• Sh•1 JtstDe¢lOIZ 2023Ch•ry4 To31%t D•ciO Buy roletaqu1s10n$- hlsrortccost PrepaymeDlslactruÈdexpense$ Loansiost Mar8aret5 PCC Cash al CAF14ank Cuffent account Cash ai CAFeank Gdd COIF Charfty Inves¢ment- hlstorlral wst Tot•1 1.9666.16 1,7117.32 71,031.11 20,093.63 16,076.26 615,45().78 17Z3.10&16 6%,719.07 8.616AQ 22,9AO.71 3,667.61 9,746.6 1,302.947.09 6,829.08 .0).40 23,761.24 25.822.94 I,lJ5,dSn.78 113.86L89 I609,14J.37 Fund V•lw.hLrtorlccoii I713,10&26 I609243.37 COIFChJthFuNlv41uèai bld (ell $t p¢4mbr202J Unrea115edSU@U5 BB2,720.21 267,269.43 1.$9jIl.O£ 375,060.28 107.N.85
Oliver Heaton Trust Grants St61Statrthuti0 re DWtW5 As% prsOronn0r 840.93 1.92 4.46758 StMar8¥etsde¥ekym)tW0frE& OXCC plannisEe5 EEOW by De. Riwrtyryi rtteThde Arboi¥l report Atboieal report wanK1ee Asbest055uThVf TopoÈraphl 5Ut¥EYCD5ts LiEhting Pwieptis Lowe&(Xiver-lithtthits klTA hea(orbgJltants 3n. I1&.61 IL Y14.fAI 141MAI StMar8aret5Churth athts•ffl•Thten S4Ms2023 re Knede IE 15tAidtowse Thtry. St Msloantyw4ep¥iiTrl reoty of Mustce¥y Ortsn 5thdat5hip-R (%.EIlt Evantelena watrs EYa.Lapt 2127.82 25207.79 24A17S2 Lowe & Ol¥erSta££ IVAT Lfft&(IhvSl4t 2VAT Le &Oltsv 5ta8e 3VAT TrSlIsd( ¢utterrepailSStsAe I JttEfFepait5513y2 4ASQ22 5.IrB_14 IIT22AO ,722.40 35 CosGrowd S Radley Pla 28adEersll05e 18ThePvblishineH L The PublthinE 21he PUbl1E 3ThePublishingWou5e 4ThePubli5hinE House s26.1. 419A22A3 I755.48 207.471.77 159.72855 I797 s2.39 In.965.48 21L12S.77 Is5783 1449YJ.2L .345a8 1632rL.99 201.7&1.3I 1.487n5 16333452 925.52 2L731 202310% Wirnr . I44.771. - k44.71LS
X 8% 88 8 8 8 8 88 % ¥ 8 g %z 88 x88 x~ ¥¥ % s s¥: ZII Ixri i o o ZIL
I rew)rt on Jccounts ot the Trust for the year ended 31 Derernber 2023. which tOllSi5t of tY•V pages of accounts Isecti¢)ns A and 81 ond lin 5ettion Cl Note5 3. 6, 13, 17, 19, ?0, 21 a1 24. The charivs trusrees are ponsIble for the preparnt7on of rhe accovnts. The chjrivs twstees considef that an audit is not qUired tor this yejr under sertson ]442> ot the Charits Art 2011 Ithe 2011 PLtI and that an indeperthnt examination is needed. Is my re¥oTrybility to: examifte Ihe accounts undef seaion 145 of the 2011 A follow the procedures larfl down in 8eneral Direak>ns 8l¥en by t1 urn155lon under section 145151Ibl of ihe 2011 Art state whthr particular manefs have c0ft ro ftry attention Dasls ol Independent ¢x[w$ r•port My qyarninan was tirried out in xtordance with genefal Olrectk¢ns gfven by the Charity Commissioft. An eyamination includes a revlew of the accountin8 records kept by the charTty ar41 tompdrison of the accounts presented wilh those records. It aFso inclwles cons60erntion of any Usual items or disdosures fft the accounts and scekry expl4rlI0fts from as Irustees concernin8 Jrry such rnaftprs. The proceduros UFKl8rtaken do not provide all th¥ vidnc thal Would be qUired in Jn aLKltr and consequentty opinion ss Kivon •s to wh•ther thll accounts pr45ant rrue Jnd lair vi•.w and the reFX>rt Ilmitd to th0 matters set out in the nxt teMent. Independen¢ t&¥Trin•rf$ %W¢m•nt In connertion wlth my •iaminat#)n, fio fflatr come to my attention: l. thar 8i¥es me rewJ)nable cause to believe ihat in ony m4reriJl respecr the uIrementr. io keep Jccoufflin8 recofds in •cwrdJnce wirh secrion 1.30 01 ttte 2011 Acr JTrd b. io prepa accounts th•r accor(I with thp accountin& rpcords and compty with th accounzirvd requlremeTris ot the 2011 Act hove fy)t been rn•t or 2. to whh in rny opinlon attentK>n should be drawn in order to enable è woper utfStarKlin8 of the accounis to be reached. N4m•: Tom Cdrwr Relevant pffjfessional qualilirnmn or bothf. fofrnerty praciKed •5 thJrtered •ccountant IAC qualif*d 19961 Address". 59 Ch•lfDnt Road Oxford OX2 6rJ Date: 29 Juty 2024 S•&nare.