Charity registratlon number 1172230
Company rngl¥trgtion numb*r 10670170 (England and Wal•sl
THE CITY OF OXFORD CHARITY LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

THE CITY OF OXFORD CHARITY LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustee$
l Bratby
C E Chrislie
WD Cronan
A FairweatheT-Tall
JGMGay
J V Gould
C E Hllliard
A Hollingsworth
G Jones
P L Kennedy
Lygo
J Mactaggart
E Mvndy
S Pressel
C Simrn
C SrrovAon
J Tomes
A L Wamer May
J Wlliams
(Appointed 29 July 20221
(Appointed 31 Juty 20221
(Appointed 13 July 20221
(Appointed 13 Juty 2022}
(Appointed 28 October 20221
Seeretary and Chlef Extethivè
MrREve
Charfty number
1172230
Company numb*r
10670170
Reylstered offlee
The Office
Stones Court
St Clernents
Oxford
OX4 1AP
Audltor
Critchleys Audit LLP
Beaver House
2>38 Hyttie BTNlge Street
Oxford
OXI 2EP
Bankers
Bardays Bank plc
54 Commarket Street
Oxford
OX1 3HS
Invgstm•nt advlsors
Cazenove Fund Management Ltd
1 London Wall Place
London
EC2Y SAU

THE CITY OF OXFORD CHARITY LIMITED
CONTENTS
Page
Truslees, report
Statèment of trustees, respon$lbllrties
Independent auditoV5 r?port
statsment of financlal adMII¢$
Summary Income and expendiiur¢ account
10
Balance sheet
11
NoieB to the financial stst¢ments
12-25

THE CITY OF OXFORD CHARITY LIMITED
TRUSTEES. REPORT IINCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2022
The tru5tee5 present their annual report and financial ststements for the year ended 31 December 2022.
The financial statements have been prepared in accordance wth the accounting policies set out in note 1 to the
rinanci818tatements 8nd cornply with the charity's goveming document, the Cornpanie5 Act 2006 and "Accounting
and Reporting by Charities.. Statement of Recomrnended Practice applicable io Char￿e5 preparing their ar£ounts In
accordancè w(th the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021
leffe¢tive 1 January 20191.
Obje¢tlv&s and a¢tlvltie¥
The charitys objects are..
To provide housing accDmmodation for persons in n8ed. hardship or distre55 who reside in Oxford.
For relief of persons resident in Oxford who are in need, hardship or distress.
For relief of persons in need who are residenl in Oxford and the neighborhood thereof who are $i¢k.
convalescent. di38bled, handicapped or infimi.
For provision of education a5SlStance to peT50ns in need who are under age of 25 and resident in Oxford.
The trustees have confimed Ihat they have complied wth the duty in strdion 17151 of th8 ChaTibes Act 2011 to have
due regard to the guidan￿ published by the Charity Commission.
A¢hi?vements and perfonnance
Overall, 2022 was a challenging yèar. COVID-19 ¢onfjnuod to Imp8¢t Iifv, thero was conlnuèd turfoul•nc• In the
financjal mart(ets. and inflation became a serious concem both for the Charrty and for tre Stones Court residents.
The Charity lost the services of fv40 key tnJstees.' Robin Birch retired after 15 years as Chair and Roger Smith, a
Very long4tsnding trustee, sadty died unexpectedly. However. there have been a nLhmber of new appointments and
at year end just ￿v0 vacanoes remgined.
The investment portfolio continued to prowde a good income as did the commercial properties which were let
throughout the year.
Stones Court has CDntinued to b8 maintained lo a high standard with major repairs to th? loft of Ston8s Building to
improve both )Ire safety and Insulatlon.
We have continued to make grants for Relief in Need and in Sickness and for Bankruptcy Fees and for Education.
D¢$prte the Tru$tee5 relying on video conferencing for ihe first six months of the year, the distribution of grants to
those in need inueased significantty. During 2022 (comparable figures for 2021 are given in brackets) grant5 for
Relief in Need and in Sickne55 Were rnade to 169 11181 personslorgani5ations, lotslling £94.9791£64,0411. plus 16
1151 grants to assist wth Bankruptcy fees amounting to £3,2101£3,2101,' and Educab"on Giants to 321151 persons I
organisalions amounting to £14,0681£11,3221.
Financial review
al Inv•#tm•nts
Cazenove has eonllnued 8$ the charity's investment managers. Year on year the value of the portfolio and dividend
income fell but the drawdown amount w85 the same as 2021.
bl Commercial prop8rti
AJI rents were paid in ftjll trroughoLJt the year. During the year, the outstsnding deferred rent for 58A St Clement5
was repaid. A new tenan¢y with incieased rent was agreed for 15 Alma Place.

THE CITY OF OXFORD CHARITY LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORTI (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
cl Stones Court
It is the policy of the TnJst¢es lo sel the Weekly Maintenance Contributson (MICI for all flats at Eevels below 'fair
renf bul sufficient to cover the expendrture on Stones Court. The WMC includes a Welfa￿ charge and where this
payment rllay cause hardship to indmdual residents, we consider Iheir circumstances and where appropriate make
grants for Relief in Need io those concerned, whilst keeping this subsKly to a minimum.
The c05t of repair5 to Stones building was substantial resulting in an overaN 105s for Ihe almshouse operations. It
W85 agreed and approved by the Board to ensure that health and safety stsndards were maintained.
dl RoseThe$ Policy
Income has Gontinued lo be sufficient to tNeet expenditure. 1115 the intention that any surplus income will be applied
for charitable purposes. Any reduction in endowrnent incA>me would have the effect ol reducing our capacity to make
grants at th8 58me level.
Unrestricted funds tolalllng £1.896,633 at 31 December 2022 ¢onsi$t of fixed assets for charity use Iless loans to
finance) of £977,549. d851gn8led funds set aside for extraordinary repairs Df £87,849 legving free reserves of
£631,235. £400.000 of this was rèpresented by an investment propety leaving cash reseNes of £231,235.
el Financial management
Incofn¢ and capital values are monitored on A quartèrly b38is. Income and the capital value of the investments were
less than the previDUS year.
Rlsk review
The major risks to the charity have been idenlffied and reviewed regularty. Systems have been established to
mitigate those risks. The Prinapal risks are the deterioration in the buildings at Stones Court leading to difficulties in
getting new residents," or a fall in local government funding of needy resident5', or a fall ill the v8luefincome of
investments.
Plans for future periods
The almshouses 81 stones Court will continue to be maintained to a high standard. The Stone5 building and the
Mary Duncan building have both been refurbished. Both projects were part￿ funded through borrtswings. Similar
woth is needed on the Par50ns building and it is planned that this wil be financ&d from our own funds in the merjium
temi.
A plannSng appli¢8tion has been made for the development of our land at Gosford. We aw81t approval. Although it
may be some years before the Charity receives any significant finanryal benefil. Ihe Charity has begun to strategis&
the future. A new ¢ommittee tasked with fomiulab'ng the strategy will report before the end of 2023.
We will continue to Thake Gran15 for Relief in Need, to assist with bankruptcy fee5 in appropriate csses, and for
Education.

THE CITY OF OXFORD CHARITY LIMITED
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORTI (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Strueture, govemaneÈ and management
The Charity operates as a company limited by guarantee. The Charity's Scheme, 8PPToved by the Chawity
Commlssion in 2004 15 incorporated in the company's Artides of Assoc4ation.
All asset5 and liabilities, except the Stones Court propertle5, are owned by thè limitèd company. The
unincorporated body continues lo hold the alrnshouses as its only asset.
The Trustees ar¢ the Dlrectors, and administer the company assisted by the Clerk as Chief Exe¢ullve and
Company Secretary. The Chair of Twstee8 is the Chair ofthe B03rd.
The Trustees are appointed to sut￿0￿Milt8eS IFinanr* and G8neial Purposes, Grants, Educatson, Stones Courtl.
There is a scheme for inductjon of new trustees. Wien 8 va¢an¢y for a ¢tsopled Trustee occurs. the needs of the
trust are considered after a skills audit has been undertaken, and the trustees are 1nvited to suggest suitable
candidates. from whom an appointment is made.
The trustees, who afe slso the diT8CtoTs for the purpose of cornpany LRW. and who served during the year and up to
the date of signature of the ffinancial sIBlements were..
M Atsf-khan
(Resigned 13 Juty 2022)
R A Birch
(Resigned 19 Juty 2022)
l Bratby
(Appoinled 29 July 20221
C E Chrislie
WD Cronan
E AW Diggin$
A Faiweather-Tall
JGMGay
J V Gould
C E Hilliard
A Hollingsworth
G Jones
P L Kenne¢ty
M LygD
J Mactaggart
E Mundy
S Pre55el
C Simm
R Smith
C Smowton
J Tomes
A L Wamer May
J Vmlliams
(Resigned 13 July 20221
(Appointed 31 July 20221
(Appointed 13 Juty 20221
(Deceased 2 March 20221
IAppoinled 13 July 2022)
IAppointed 28 October 20221
Funds held •9 Custodian trustee
We hold no fvnds as custodian twstee

THE CITY OF OXFORD CHARITY LIMITED
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Disclosure of Infomiation to audltor
E8ch of the trustees has confirtned that there is no infomiation of whlch théy are awar• vjhich Is rèlèvant to the
audit. but of which the auditor is unaware. They have hjrther confimied that they have taken appropfiate steps to
identify such relevant infomiation and lo establish that the auditor is aware of such infomiation.
Thi5 T8PQrt ha5 been prepared in a¢¢ordance bwth the Sfflall Companies Regime underthe Comp8nies Act 2008.
e truslees, report was appioved by the Board of Trustees.
J Mactaggart
Trustee
Date..

THE CITY OF OXFORD CHARITY LIMITED
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2022
The trustees, who are also the directors of The Cty of Oxford Charity Limited lor ihe purpose of company 18w. a
responsible for preparlng the Ttustees. Report and the finanual statements in 8¢¢ordance with applicable law an(J
United lfjngdom Accounb"ng Standards Iunited Kingdom Generalty Accepted Aceounbng Practs'cel.
Company Law requires the trustees to prepare finanaal statemen15 for each financial year which give a true and fair
view of Ihe state of affairs of the charty and of the incoming resources and appliCat￿n of resources, induding the
income and expenditure, of Ihe charitable cornpany for that year.
In preparing these f nancial statement5, the trustees are required lo..
select surtable accounting policies 3nd then apply them eonsistendy.,
- observe the methods and principles in the Chanlles SORP..
make judgements and estimates that are reasonable and Prudent.. and
prepare the financial ststements on the going concern basis unless rt is inappropriate to presume that the Charity
will continue in operation.
The trustees are responsible for keeplng adequate accounting ￿ordS that disdos8 with ieasonable accuracy al
any tlme the fflnancial posibon of the charity and enable them to ensure Ihat the financial statements comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking
reasonable steps forthe prevention and detection of fraud and olhar irragularrtles.

THE CITY OF OXFORD CHARITY LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF THE CITY OF OXFORD CHARITY LIMITED
Oplnlon
We have audited the financial statements of The City of Oxford Charity Limited Ithe 'charity'l foT the year ended 31
December 2022 which comprise the statement of financial activilies. the summary income and expenditure account.
the balance sheet and notes to the financi81 slatemenls. induding significant accounting poliGie5. The ffinanaal
reports'ng framework that ha5 been applied in their preparation is applicable law and United Kingdom Ar£ounts'ng
Standards, induding Financial Reportillg Standard 102 The FinanGial Reporting Standard applicoble in the UK and
Republic of Ireland (United Kingdom Generally A¢¢epted Accounting Practice).
In our opinion, the finan￿31 staternents..
glve a true and fair view of the state of the charitable cotnpany's affairs as at 31 December 2022 and of its
incoming resources and application of resources, induding it5 income and eKpendrture, for the year then
ended.,
have been property prepared in accordan¢s with United Kingdom Generaly A￿epted A¢wunllng Practice.,
and
havè bèen prepared in accordan￿ with the requirements of the Companie5 Act 2006.
Basls for oplnlon
We conducted our audit in accordance vrith Intemational Standards on Auditing (UK) IISAS IUIQ) and appllcable
low. Oui Tesponsibilities under those stsndards are fijrther described in the Audit0￿S responsibilifr'es for the audit Df
the financial stat8menls section of our r8porL We are independent of the chanty in accoidance with the ethical
requirements that are relevant to our audrt of the financial statements in the UK, induding the FRC'S Ethical
Standard. and we have luifilled our other ethul re$pon$ibilitie5 in accordance wth these requirement5. We believe
that the audit evidence we have tsbtsined is sUffic￿nt and appropriate to provide a basis for our opinion.
Conelu$lon¥ relating to golng coneern
In auditing the finanual statements. we have conduded that the trustees. use of the going concern basls of
¥¢counting in the preparauon of the finanaal siatements is appropri8to.
Based on th¢ WOTk we have performed, we have not identified any material Un￿rtaInlieS reialing to events or
conditions that, individualy or collectively, may Ixst 5ignrficant doubt on the chanty's abillty lo ¢onty"nue as a going
concern for a period of at18851 tWe￿e months from ￿en the financial ststements arè authorised for155ue.
Our responsibilibes and the resprjnsibilities of the trustees wth respect lo gryng con￿rn are described in the
rel8vant secbons of this report.
Other inlorniation
The other inforniation comprises the information induded In the annual report other than the flnanaal statements
and our audrtorfs report thereon. The trustees ale responsible for the olher information contained wthin the annual
report. Our opinion on the finantyal statements does n¢1 cover the other informats'on and, except to the extent
otherwise explicitty slated in our report, we do not express any fomi of assuran￿ conclusion thereon. Our
f#sponsibility 15 to read the other infomiatyon and, in doing so, consider whether the other infomiation is materially
inconsislent with the financial $tslements or our knovAedge obtained in the o)urse of the audit. OT Otherwise appears
to be materialty misstated. If we identfy such material incon51Stenries or apparent material rnisstalements, we ale
reouiied to detemiine whether this gives rise to a material misslalement in the finanrial statements themselves. If,
based on the work we have performed. we condude that Ihere 1$ a rn8lerial mi55tatement of this other infomiation,
we gre required to report that fact.
Wt have nothlng to report in this reg8rd.
Oplnltsn$ on other matters pr•seribed by the Companl•s Act 2006
In our opinion. based on the work undertaken in th8 course of our audit
the infomiation given in the trustees. report for the flnancial yeaT for which the finanrjal staternents are
prepared, whlch indudes the dlrector5' report prepared forthe purposes of cornp8ny law, is consistent with the
nancial 5tatements', and
the direclors, ￿pOrt induded within the Injstees, report has been prepared in accordance wrth applicable legal
requirements.

THE CITY OF OXFORD CHARITY LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF THE CITY OF OXFORD CHARITY LIMITED
Matters on whi¢h we are required to report by exception
In the light of the kno¥Medge and understsnding of the charity and its environment oblained in the course of the
audit. we have not identified material misstatements in the directors, report included within the trustees, report.
We have nothing to report in respect of the follo￿n9 matters In relation to which the Companies Act 20C6 requlres
us to report to you if. in our opinion..
8dequale accounting iecords have not been kept, or returns adequate for our audit havè not b8en reeewed
from branches not visited by us". or
the fjnancial siatements are not in agreement vAth the accounting records and retums.. or
certain disclosures ol tru5tee5' remuneration specffied by law are not made., or
we have not received all the infortnation and explanation5 we require for our audit.. or
the Iruslees were not entsued lo prepare the finanryal statements in accordanrR wth the small companies
regime and take a(Jvantsge of the sm811 companies. exemptions in preparing the trustees. report and from the
requirement io prepare a strategi¢ report.
Responslbllltles of tnjstees
As explained more fully in the Statement of trustees, responsibilitses, the ttust888, who aTe a150 the directors of th8
charity for the purp058 of company law, ar8 responsible for the pr8paratlDn of th8 financial statements and for bein9
satisfied that they give a true and fair vlew, and lor such Intemal control as the trustees determine is necessary to
enable the preparation of finanaal statements that are free from material misstatement, whether due lo fraud or
e￿Or. In preparing Ihe financial statements. the trusiees are responsibte foT assessing Ihe ch8rity's ability lo
continue a$ o going concein. disclosing. as applicable. rnatteis ￿lated to goin9 conceffl gnd using the going
concem basis of accounting unless the trustees either intend to liquidate the charitable company or to cease
operalions, or have no realistic alternab"v¢ but to do $p.
Audltor's re$ponslbllltl?s f¢x the audlt of the flnanclal statements
Our objectives are to obtain reasonable a5suiance about whether the ffinanclal statetllents as a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditorfs report thal includes our opinion.
Reasonable assuran￿ is a high level of assurance but is not a guarantee that an audit conducted in accordan
with ISA5 IUK) will alway$ delect a material rnisstatement when it exists. Misststements can arise frorn fraud or
error and are Considered material if, Individualty Or In the aggregate, they Could reasonably be expected to influence
the economic deaslons of users taken on the bg$1s ofthe$e tlngn¢ial stslements.
The exient to which our pro￿du￿S are capable of detecting irregularities, induding fraud, is detsiled below.
the engagement partner ensured that the engagement team collecivety had the appropriate competence,
capabilities and skn11s to identify or recognise nonryc0rnpl1an￿ with applicaNe laws and regulations..
we Identified the laws and ￿gUlatIonS 3pplicable lo Ihe company through dlwssions ￿th directors and
other managetnent, and from our kn￿edge and experien¢¢",
we focused on speafic laws and regulth.ons which we considered may have a direci material effect on the
financjal statements or the operations of the company..
we assessed the eytent of Complian￿ with the laws and regulations identffied above through making
enquiries of managernent and inspecting legal correspondence where applicable-, and
identified laws and regulab'ons were communicated within the 8udil tearn regularfy and the team remained
81ert to instances of non-cornpliance throughout the audit.
We assessed the susceptibility of the chatity's fjnancial statements to material misstatement. including obtsining an
under51anding of how fraud might occur. by..
rnaking 8llquiries of management as to where they c¥)nsidered there was 5USC8ptibllity to fraud, their
knO￿edge of actual, svspected and alleged fraud,. and
considering the inlernal controls in place to mrtigate risks of fraud and non-compliance with laws and
regulalltsns.

THE CITY OF OXFORD CHARITY LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF THE CITY OF OXFORD CHARITY LIMITED
To address the risk of fraud through management bias and override of Controls, we..
performed analytical procedur$$ to identify any unusual or unexpected relationships:
tested journal èntries lo identfy unusual transactions..
assessed whether judgements and assumpts.ons made in determining the accounts'ng estimates were
indicative of potential bias.. and
investigated the rationale behind significant or unusual transactions.
In response to the risk of i￿egUlar1tieS and n0￿ComPlI8nce wth laws and regulations, we designed procedure5
which included, bul were not limited to..
agreeing financial statement disclosures to underlying sUPPOrting docurnenlation.,
r?ading the minutes of meelng8 of those charged wrth govemance..
enquiring of management as to actual and potential liti'gabon and daims.,
reviewing relevant cOr￿spondenCe.
There are Snherent lirnitaty'ons in our audit procedures described above. The tnore refflov8d that laws and
regulations are from finana31 transactions. the less likety it 15 that we would become aware of non-compliance.
Auditing standards also lirnit the audit Pro￿dureS iequir8d to identify n0n-cornpl1an￿ wth laws and regulab"on$ to
enquiry of the directors and other wnanagement and the inspectlon of regulatrjry and legal Co￿eSponden￿, if any.
Material misstatements that arise due to fraud can be harder to detect than those that afisé from éNor as they may
involve deliberate conce41n￿llt of collusion.
A fuTther desuiption of our responsibilitie5 is available on the Financial Reporling Council's websTie at.. htlps'.11
¥￿￿.trC.org.uklaudrtOTSreSponslb1lltle5. This descripbon fonns part of our audilof5 report.
Use of our report
This report is made solely to the charitable company's members. as a body. in accordance wth Chapter 3 of Part 16
ofthe Cornpanies Act 2006. Our audit work has been undertaken so that we might state to the charftable companys
members those matters we are required to state to them In an auditorfs report and for no other purpose. To the
fullest extent permitted by law, w8 do not accept or assume responsibility to anyone other than the chariloble
company and the charitable company's mernbers as a body, for our audrt work, for this report. or for the opinions we
have *omied.
//// •
Robert Kirtland IS•nlor Statutory Audltor}
for and on behalf of ¢￿t¢hIty$ Audlt LLP
231512023
Chartered Accountants
Statutory Audttor
Beaver Housè
2348 Hythe Bridge Street
Oxford
OX12EP

THE CITY OF OXFORD CHARITY LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2022
Unrestricte(l Endowment
funds
funds
2022
2022
Totsl unW$t￿¢t0d Endovmient
fund3
fund8
2021
2021
Total
2022
2021
Notes
Income from..
Donations and legacl8s
Charitable activthes
Investtnents
696
210,817
159,941
696
210,817
159,941
1.266
198.335
157,504
1.266
198.335
157,504
Total Income
371,454
371,454
357,105
357,105
nditu
Raising fund5
50,848
16,596
67,444
2.233
16,203
18,436
Charitsble aCtiv￿e$
488,796
488,796
336,662
338,862
Total expendlture
539,644
16,596
556,240
338,895
16,203
355,098
Net gainslllossesl on
investrnents
11
803.776
803,776
(75,0001
498,318
423,318
Net loutgoingifincorning
resources before transfers
1168.190)
787.180
618,990
156,7901
482,115
425,325
Gross transfeTS be￿en
funds
81,035
161.0351
65.478
165,4781
Net movement In funds
1107,1551
726,145
616,990
8,688
416,637
425,325
Fund balances at 1 January
2022
1,803.788
5,323,391
7.127,179
1.795,100
4,906,754
6,701,854
Fund balances at 31
D•cember 2022
1,696.633 6,049.536
7,746.1 $9
1.803,788
5,323,391
7,127,179
The statement of finaniyal activthes indudes al gains and losse5 recogni5ed in the year.
All incorne and expenditure derive from continuing activthes.

THE CITY OF OXFORD CHARITY LIMITED
SUMMARY INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2022
All income fundg
2022
2021
Gross income
Losses on investments
Transfer from endrwmient funds
371,454
357.105
175.IKJOI
65,478
61,03S
Total income in the Teporting period
431489
347.583
Total expenditurè from income funds
539,644
338,895
Net lexpendlture)fincome for the year
1107,15S)
8,688
10

THE CITY OF OXFORD CHARITY LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2022
2022
2021
Notes
Flxed assets
Tangible 8SSÈts
Investment properties
Investsnents
12
13
14
1,697.546
2,600,000
3,&96,224
1,777.497
1,499.000
4,070,425
7,993,770
7,346.922
Curr8nt ass•ts
Debtors
Cash at bank and In hand
16
4,731
347,500
2.168
42S,509
352,231
427.675
CreditorB: amounts falllng due wlthln
one year
17
165,982)
tT2,9981
Ng1 curr8nt assets
286,249
354.679
Total asuts l•ss current Ilabllltlos
8,280,019
7.701,601
Credftors.. amounts fallSng dug after
more than one year
18
{533.8501
1574,4221
Net Jssets
7.746.169
7,127,179
Capital funds
ExPenda￿e endowment
6.049,538
5,323,391
20
6.049.536
5,323,391
In¢omo funds
Unrestricted fvnds
Designated funds
General unrestricted funds
21
87,849
1,608,784
110,294
1,893,494
1,696,633
1.803,788
7,746.169
7.127,179
23111 fftRIL 20x3
The financial ststements were approved and authorised for issue by the Trustees on ...... ...
J V Gould
Tru$tso
Company Reglstratlon No. 10670170
11

THE CITY OF OXFORD CHARITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Accounting pollel•$
Charity infomiatlon
The City of Oxford Charity Limit8d 1$ • priv* ¢ompany limited by guarantee incorporated in England and
Walès. The registered office Is The Office. Stones Court. St Clements. Oxford. OX4 1AP.
1.1 A¢¢ounling convention
The financial statements have been prepa￿d in accordance with the charity'5 governing document, the
Companies Act 2006, FRS 102 'The Finanoal Reporting Standard appllcable in the UK 8nd Republic of
Ireland I'FRS 1021 and Ihe Charities SORP 'Accounting and Reporting by Charilie$". Staltrment of
Recommended Practice applicable to charities preparing their accounts in accordance wth the Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191. The
charity is a Public Benerrt Entity a5 defined ty FRS 102.
The charty has tsken advantage of the provisions in the SORP for charities not to prepaie a Statewn?nt of
Cash Flows.
The charity acquired thè net assets of unincorporated Cty of Oxford Charty (registered office aB above) on 1
December 2017 and this h83 been accounted for uslng merger accounthng a8 required by1he FRS 102 SORP
in order to present a true and fair view.
For assets under 3 Charity Commission Scheme. The City of Oxford Charity Limited is now the sole Trustee
of that Scheme and the assets under the Scheme are now under the control of this charity and included in Its
financial ststements.
The finan￿al statements are prepared in stertlng. which is the functional currency of the charty. Mtsnetary
amounts Tn these finanrial statement5 ar8 rounded 19 the nearest £.
The financial st3tement5 have been prepared undar tho historical cost convention, modrfied to indude
investment properues and ¢ertain financial instruments at fair value. The principal accounting policie5 adopted
are set oul below.
1.2 Going concern
At the time of approving lhe financial statements. the trust8es have a r¢8S0118ble expeolation that the charty
has adequate resources to continue in operational existence fgr the fofeseeable future. Thus the tnjstees
conbnue to adopt the going Goncern basis of accountsng in preparing the finanaal ststemenls.
1.3 Charltsbl¢ fund¥
Unrestricted funds are availat4e for use at the discretion of the trustee5 in furth8rancg of thwr tharitable
objectives.
Designated funds Comprise unreslricted funds that have been set aside by the Trustees lor particular
purpo$e$.
Restricted fijnds aTe subpct to specjfic conditions by donors as to how they may be used. The purposes and
uses of the restricted funds are set out in the notes to the finan¢lal $18lemenls.
Endowment fvnds represents assets, mainly inv8Stm8nts, where the intentiot) is for those to be held long tem)
for the benefft of the charity. Income from the main expendable endowment is unrestricled. Any capital gains
or losses fom) part ofth8 fvnd.
1.4 Ineome
Income is recognised when the charity is legally entitled to it after any perfomi8nc8 ￿ndItiOnS have been met,
the amount5 can be measured rellabty, and it is probable that income will be recèived.
12-

THE CITY OF OXFORD CHARITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Accountlng poll¢loS
Icontlnuedl
Legacies are recognised on receipt or otheN4ise if the tharity has been notffied of an irnpending distribution.
the amount is known, and receipt is expected. If the amount is not known. the legacy is treated as a
contingent asset.
1.5 Expendlture
Expenditure 15 recognised once there is a legal or constnjcbve obligation to transfer economic benefft to a
Ihird party, rt i5 probable that a transfer of economic benefits will be required in setuement, and the amount of
Ihe obligation can be measured reliably.
Expenditure 15 clas5thed ty actwity. The costs of each aCt￿lty are rnade up of the totèl of direct costs 8nd
shared Costs, Sncluding support Costs involved in undertaking each activity. Dlrect costs attributable to a single
activity are allocated direct￿ tD that activity. Shared costs which contribute to more than one activity and
support costs whK* are not attributable to a single activty are apportioned be￿en those activities on a basis
consistent with the use of resources. Central staff costs are allocated on Ihe basi5 of I'me spent, and
depreriatloTI charges are allocated on the portion of the asseys use.
Grants are induded in the accounts once they are approved for payment by the truste¢s. These are grants lo
individuals and organisations for small 8mout)ts.
1.6 Tanglble fixed assets
Tangible ffix8d assets are initially rneasured at COSt and sUb￿qU￿ndY fn80sur¢d at cost or valuabon. n•1 of
depreciation and any impaimient loss¢s.
The propertie5 cOn￿Med are stated in the accounts at cost. Prior to 2007 all repair5 8nd improvement to
Stones Court were included in the Statement of Financial Activities. However, the charity has undertaken two
rnajor improvetnents to Stones Court which h8ve been mainty fvnded ty bank loans and a loan from the
endowment. Given these enhanced Stones Court. these major impiovement5 have been capitalised and are
being depreciated
Depreciation is recognised so as to wrlte off tho ¢ost or valu911on of as$ets less thelr resldual values over thelr
useful lives on the following bases..
Freehold buildings
30 yaars
1.7 Inve•tsnent propgrt19¥
Investmenl propety, which is propety held to eam rentals andlor for capital appreciats'on. is initial
recognised at cosl. which indude5 the purchase cost antl any diredty attributable expenditure. Subsequent
rt is rneasured at fair value at the reportin9 end date. The surplus or deficAt on revaluation is recognised in the
Statement of Financial Actiwties.
1.8 Fixed asset Investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are
subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net
incomellexpenditurel for the year. Transaction costs are expensed as incurred.
1.9 Cash and cash frqulvalents
Cash and equivalents indude cash in hand. deposits held at call wth banks. Other shon-ttrnn liquid
investments with onginal maturities of three months or less, and b8nk overdrafis. Bank overdrafts are shovm
within borrowing$ in Current ItabilNie5.

THE CITY OF OXFORD CHARITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Accountlng pollelè#
{Continuedl
1.10 Financial Instrum8nts
The charity has elected to apply the provislons of Section 11 'Basic Financial Instruments. and Section 12
'Other Flnan¢ial Instruments Issues, of FRS 102 to all Df it5 financial instruments.
Financial instruments are recognised in the charty's balance sheet vthen the charity becomes paty to the
contractual provisions of the instrument.
Financial assets and liabllrties are offset, with the net arnounts presented in the ffinancial statements. when
there is a legalty enf¢icesble right to sel off the recognised amounts and there is 8n intention to 5etUe on a net
basis or to realise the asset and setue the liability simuttaneou5ty-
B8sic financial asstts
Basic finanaaj 355ets, %*hich include debtors ¥nd cash and bank balances, are initially measured at
transactlon price.
Basic financial liabllltles
Basie finan￿al liabilrties. including cretjitors and bank loan5 are In￿allY recognised at transaction pric• unless
the arrangement wnstitutes a fjnancing transaction, where the debt instrument is rneasured at the present
value of the future payments discounted at a wnarket rate of interest. Finanrial liabilityes classified as payable
within one year are not amort6std.
Debt instrumÈnts are sub5equendy canled at 8TDOrtiseiJ cost, using the effeclsve interest rate method.
Trade creditors are obligation¥ lo pay for goods or service5 that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are dassnled as current liabilitles rf payment is due within one
year or less. If not. they are presented as non•current liabilities. Trade CT8dit015 ar? rewgnised initially at
transa¢tlon price and sub5equenUy measurèd at xmortl8ed cost using the effective interest method.
1.11 Retlrement ban8lit8
Paym8nts to defined contribution ret6remenl beneff( schemes are charged as an expense as they f811 due.
crftlcal accountlng estimates and Judgèm•nts
In the application of the tharity's accounting policie5, the trustees are required to make judgements, estimats$
and assumptions about the c3rw.ng amount of assets and liabilities that are not readity apparent from other
sources. The estimate5 and assoaated assumptions are based on historical experience and other factors that
are considered to be relevant. Actual results may drffer from these estimates.
The estimates and undedying assumptions are reviewed on an ongoing b8515. Revisions to accounting
estimates are recognised in the period in which the estimate is revised whefe the ￿vIsIOn affects only that
period, or in the period of the revision and future periods where Ihe ￿Vision affects bolh current and future
periods.
Critical judgements
Land valuè
Valuation of land with pottrnti•l development value- see Investment PropErty note for more details
14-

THE CITY OF OXFORD CHARITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Donations and legacles
Unrestricted Unrestricted
lunds
funds
2022
2021
Donations and gifts
696
1,266
Charitable aetlvltles
Ston•s
Court
2022
Stones
Court
2021
Charitable rental income
Less.. Grants payable to residents
215,269
14,4S21
203,371
15,036)
210,817
198.335
Investments
Unrestrleted Un￿Stricted
fund2b
ftjnds
2022
2021
Rentsl income
Income from invèstments & Interest
77.955
81,986
81,448
76,056
159,941
157,504
15-

THE CITY OF OXFORD CHARITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Ralslng funds
Unrèstricted Endowment
funds
funds
general
2022
Total Unrestricted Endowment
funds
funds
g8n8ral
2021
Total
2022
2022
2021
2021
Investment propèrty
expenses
nvestment mana
fees
50,848
50.848
2,233
2.233
emènt
16,596
16,596
16,203
16,203
50,848
16,596
67.444
2,233
16,203
18,438

THE CITY OF OXFORD CHARITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Charitable activitl&S
Stones
Court
2022
Grant
makSng
2022
Total
2022
Stones
Court
2021
Grant
maklng
2021
Total
2021
st8ff costs
Depreaation and
impairment
Loan interest
Repairs and maintenance
Other Stones Court costs
25,272
25,272
20,166
20,186
79,951
24,116
130,508
31,272
79,951
24,116
130,508
31.272
79.951
20,113
38,389
32.662
79.951
20,113
38,389
32,682
291,119
291,119
191,281
191.281
Grant fijnding of ath"wtl85
(see note 81
112.257
112,257
78,573
78,573
Share of support COSt5 (see
note 91
Share of govemance costs
15ee note 91
31,010
31,898
62,9)8
28.621
28,848
57,469
13,507
9,005
22,512
5.603
3,736
9.339
335,636
153,160
488,796
225,505
111,157
336,662
Grants payable
Grant making Grant making
2022
2021
Grants to Indfvlduals
112,257
78.573
112,257
78,573
Support costs
Support Govemance
2022
Support Govemance
2021
Staff costs
Printing, Postsgtt. b8nk
harges & sundry cost5
48,263
48.263
44,201
44.201
14.645
14,845
13,288
13,268
Audlt fees
Legal and professional
6,584
15,948
5,856
3.483
5,856
3,483
15,948
62,908
22.512
85,420
57.469
9.339
66,808
17-

THE CITY OF OXFORD CHARITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
10 Employ•es
The average monthty number of employees during the year was".
2022
Number
2021
Number
Employment costs
2022
2021
Wages and s81aries
Social securty costs
Other pansion oosls
87.238
6.190
107
62,855
1.512
73.535
64.367
There were no efflployees whose annual remuneration was more than £60,000.
11
Net galnslllossesl on inve8lments
Endowment Unrestricted Endowment
funds
funds
lunds
eneral
general
2021
Total
2022
2021
2021
Revaluation of investments
Revaluats"on of investment properb¢$
1297,2241
1.101,000
398.318
100,DOO
398,318
25.000
175,000}
803.776
175.0001
498,318
423,318
18-

THE CITY OF OXFORD CHARITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
12 Tanglble fixed ¥￿ets
Fr•ghold bulldlngs
Cost
At 1 January 2022
2,398,529
At 31 December 2022
2,398.529
Depreciation and [m￿ltment
At 1 January 2022
Depreualion chorged in the year
621,032
79.951
At 31 December 2022
700,983
C¥ryrng amount
At 31 De￿rnber 2022
1.697,546
At 310ecember 2021
1,777,497
19

THE CITY OF OXFORD CHARITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
13 Investment property
2022
Fair value
At 1 January 2022
Nel gains or losses through laii value adjustsrents
1.499.000
1.101,000
At 31 December 2022
2,800,000
Investment property comprises propeities and land. The falr value of the investrnent properties of £1,400,000
had been arrived at on the basis of a valuats'on carried out ty VS&P, Chartered Suwveyors in November 2021.
The land has been allocated for residential development in a local plan, but no planning perrnission has been
obtained al the balance sheet date. If residenti81 planning permission is obtained the land could be worth over
£5 million. Gnien an planning application ha5 now been 5ubtnitted the trustees have dedded to recognise an
uplift lo value Ihe land to £1,200,000, whkh Is In ex¢e5s of its agricultural value previously esb"mated at
£99,0(K).
-20-

THE CITY OF OXFORD CHARITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
14 Fixed asset Investments
Llst•d
Investsnènts
Ca$h In
portfolio
Tolal
Cost or valuation
At 1 January 2022
Additions
Valualign changes
Movement in cash held
Di5P05al$
4,016.028
802,341
1297,2241
54.397
1802,3411
4.070.425
1297,224)
176,9771
176,97n
824,921
1824,9211
At 31 December 2022
3,696,224
3,696,224
Carylng amount
At 31 December 2022
3,696,224
3.696.224
At 31 De¢embeT 2021
4.016,028
54.397
4,070,425
15 Financlal In$truments
2022
2021
CarrySng amount of financial assets
Instruments measured at fair value through the Statement of Finanoal
A¢b"thb"es
3,696.224
4,016.028
16 Debtor5
2022
2021
Amounts fallhng due within on¥ yèar:
Other debtors
4,731
2.166
17 Credltors- ¥mounts falllng due within on• year
2022
2021
Note¥
Bank loans
Deferred income
Grants payable
Accrua15
19
44,477
165
2,700
18.640
44,082
13,998
4.115
10,801
65,982
72,996
21

THE CITY OF OXFORD CHARITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
18 Credltors.. amounts falling due after mor• than one year
2022
2021
Notèg
Bank loans
19
533.850
574,422
19 Loans and overdraft8
2022
2021
Bank loans
578.327
618,504
Payable wthin one year
Payable after one yèar
44,477
533,850
44.082
574,422
Amounts included above which fall due after )fve years..
Payable by instalments
332.658
380,623
Th¢ long-terni loans are secured by a charge over ￿ of the charitys investment properties. £725,0￿ of the
available £750,000 loan had been drawn al the year-end. Thi$ loan will be repayable in instalmènts Over 15
years. Inleresl is payable at 3Yts above the bank's ffoating interest rate.
-22-

THE CITY OF OXFORD CHARITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEOI
FOR TrIF YEAR EIIDED 31 DECEAIBER 2022
20 Endty4ThqhtNr
En(%￿m￿tfU￿ds reywent mu4 b*h4d PBnnaneDdy byihp thanty.1nGornearf￿y @ndOwmElltTunds￿ bE used
th¢th*bty andisindudtyJ4$uDr+￿el0d InwmE. gahs£¢1055es ￿th• aswfDrm part OTthetynd.
8*knr¢441 Exp￿LI￿j￿•
l J￿U￿ry
*4nd
zi
ExFvndabh End0%￿n•ni$
The Ghariiy
185.4nl
498.215 5.923,391
115.$961
(61,0)$1
803,770 6.D4&,536
4.W6,754
116.2031
165.47BI
498,Jl8 5.323,*1
iie.5961
IlJ1.D3S}
803.716 6.D49,
Tho City of Oxford Chanty
Thiy15 ¢xpondabK8 repTEsentsknE IDVB61ThytshEld tytrlsf￿l￿. lfi is a Pern￿e￿i thidoumiof thnES C•Jrt its
Cty¢foxford Chanty. hkfiud¢co$i ￿￿1$15 effÈ•iero henc2 the￿15 no fund baan¢*.
The ¢*uriiyi*ntyll nWffl•ylll9ii$flx*d aWtIn￿￿t50Th a r&lum' ba*sand Ih8tr4n51Er0bo￿ wuWlt$thB jrnUnttransf¢￿tts unr•ithtt8d fund5M
ofthB In￿81Th￿t Intyjmt.
-23-

THE CITY OF OXFORD CHARITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEIWBER 2022
21 Designated funds
The income funds of the chaTty indude the following designated funds which have been set aside Dut of
unrestricied funds by the trustees for 5pecrfic purposes..
Movement in funds
IncomE
TransfArs
Movemvnt In funds
Income
Tr•n¥f•
Balance •t
1 January
2021
Balan¢0 at
1 January
2022
Balane• •¢
31
l>•e•mber
2022
Extf30rdinary
repairs lund
50.286
60.000
110,294
122,5001
87.849
50.286
60,000
110,294
55
122,5LK)I
87.849
22 Analy$l¥ of net assets b*twe8n funds
Unrestrlcted Endowment
funds
funds
2022
2022
Total Unrestricted Endowment
funds
frjnds
2021
2021
Totsl
2022
2021
Fund balances at 31
December 2022 are
repre5ent¢d by..
Tangible assets
Investment properties
Investments
Loan befv￿en funds
Current assetsllliabifitiesl
Long lern) liabilities
1,697,546
400,000
1,697,546
2,600.000
3,696.224
1,777,497
400,000
1,777.497
1,099,OLMJ
1,499,000
4,070,425 4,070,425
150,003
3,963
2.200,000
3,696,224
141,670
11,642
1141,6701
274.607
1533.8501
1150.CX)31
286.249
350.716
1533,8501 1574,4221
354,679
1574.422)
1,696,633 6,049,536 7,746.169
1,803.788 5,323,391
7,127.179
Loan belwtren funds represent5 8 loan from the tharity's general endowment to rts unrestricted funds. The
purpose of this loan is to assist in funding the redev¢loprTient works on Stones Court as authorised by thè
Chailty Comrnission. This loan IS to be Tepaid over 30 years #t an annual rate of £8,333 per annum.
23 Relaled party transactions
Remuneratlon of key management pgr4onnel
The remuneration of key management personnel Is as follows.
2022
2021
Aggregate compensation
42,617
39.455
24-

THE CITY OF OXFORD CHARITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2022
23 Related Pabty transactiong
Icontlnuedl
None of the Trustees wa$ r8lmbursed expenses during the year12021'. one Tru6tee reimbuTsed £211.
The Trustees recewed no remuneralion12021'. nill.
There were no r¢￿ted paty tTan5actK)ns In either year.
25-