Charfty registration number 1172230
Company registration number 10670170 (England and Wales
THE CITY OF OXFORD CHARITY LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
( i.xrd)iu)
C¥&RIT

THE CITY OF OXFORD CHARITY LIMITED
LEGALAND ADMINISTRATIVE INFORMATION
Trustees
l Bratby
M Clements
B Coyne
W S Cronan
A J Fairwealher-Tall
JFry
J G M Gay.. Vice Chair
J V Gould
C E Hilliard
A J Hollingsworth
E F Joint
G R Jones
P L Kennedy
J L Mactsggart." Chair
E Mundy
S Pressel
Cmslmm
C S F Smowton
J H Tomes
J K Williams
(Appointed 25 October 20241
Secretary and Chief Exocutive
MrREve
Charfty number
1172230
Company number
10670170
Reglstered offlce
The Offi
Stones Court
st Clements
Oxford
OX4 1AP
Audltor
Gravita Audit Oxford LLP
First Floor, Park Central
4041 Park End Street
Oxford
OX11JD
Bankers
Bardays Bank plc
54 Commarket street
Oxford
OX13HS
Inveslrnent advlsors
Cazenove Fund Management Ltd
1 London Vvall Place
London
EC2Y SAU

THE CITY OF OXFORD CHARITY LIMITED
CONTENTS
Page
Trustees, report
ststement of trustee5' responsibilitl8S
Independent auditols report
Statement of financial actlvltles
10
Summary income and expenditure account
11
8alance sheet
12
Noles to the financial statements
13-27

THE CITY OF OXFORD CHARITY LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their annual report and financial statements for the year ended 31 December 2024.
The financial statements have been prepared in accordance with the accounting PDlicies set out in note 1 to the
finan￿al statements and comply with the charity's goveming document. the Companies Act 2006 and "Accounting
and Reporting by Charitie5'. Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)"
(effective 1 January 20191.
Objectives and activities
The charity's object5 are..
To provide housing accommodation for persons in need, hardship, or distress, who reside in Oxford.
For relief of persons who are resident in Oxford who are in need. hardship. or distress.
For the relief of persons in need who are Tesident in Oxford and the neighbourhood Ihereof who are sick,
convalescent, disabled, handicapped or infirm.
The provision of education assistan￿ to persons in need who are under the age of 25 and resident in
Oxford.
The trustees have confirmed that they have cornplied with the duty in section 17(5) of the Charities Act 2011 to have
due regard to the guidance published by the Charity Comrnission.
Achlevements and perforniance
Inflationary pressures impacled the income and operational costs of running the almshouses and the cost of living
crisis continues to put pressure on the funds used to support those in need in the city.
We have continued to manage, invest in, and improve the almshouses at Stone5 Court. Four flats became vacant
during the year but demand for good accommodation remains high and so voids were minimised.
Preparations for the refurbishment of the Parsons building have continued, in anticipation of funds from the sale of
the Gosford development land becoming available. The initial design and engineering work has been completed
and outline costings assessed.
The investment portfolio has generated a good income, and the commercial properties have been fulty let
throughout the year.
The sale and development of the land at Gosford continues to move forward although slowly. Planning approval
was given in late 2023, and in 2024 Ihere was resolution to various issues including archaeological surveys. It is
hoped that S106 demands are Ihe last major hurdle and that 2026 will see contract negotiations with the developer.
The requests for Relief in Need and in Sickness. and for Education grants remained high but changes to the law on
Debt Relief Orders cut demand significantty. The Charity's focu5 on early years resulted in another year of increased
educational grant5 SUPPOrting children from the most deprived parts of the city. During 2024 {comparable figures for
2023 are given in brackets) grants for Relief in Need and in Sickne55 were made to 195 (186) personsl
organisations. totalling £122,719 1£110.152). plus 4 {131 granls to assist with BankTUPtcy fees amounting to
£2,670(£3,980),' and Education Grants to 31 {231 person5 lorganisations amounting to £28,134 (£26.586)-

THE CITY OF OXFORD CHARITY LIMITED
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Flnanclal Review
a} Investménts
The main investment objective is to deliver a totsl retum of not less than 4.00/0. Cazenove has continued as the
charity's investment managers. The value of the portfolio year-end after costs and drawdown was £4M. an increase
of circa £260,000 over the balance at the stsrt of the year. The total drawdown was held at £155,000 or 3.9Yo. The
board were content to increase the level of investment risk. This was achieved during the year by selling down
approximalely £300K of property investments and moving the funds into global, north American and technology
stocks.
As regards the Extraordinary Repair Fund and our general savings our aim is to keep pace with inflation and
increase overall value through accrued interest.
b) Commercial Properties
58A St. Clemenls and 15 Alma Place were fully let throughout the year and have been professionalty valued for
accounting purposes. The value of both has increased and the revised year-end value is £1.69M. Both properties
were fully let throughout Ihe year generating a gross return of 6.2 %.
c) Stones Court
It is the policy of the Trustees to set Ihe Weekly Maintenance Contribution (WMC) for all flats at levels below 'fair
rent, but sufficient to cover the expenditure on Stones Court. The WMC includes a welfare charge and where this
payment may cause hardship lo individual residents, we consider their circumstances and where appropriate make
grants for Relief in Need to those concerned, whilst keeping Ihis subsidy to a minimum.
Following Mo years of exceptional repair costs to the Stones Court buildings, 2024 saw a sharp reduction in
building repairs and mainlenance. Maintaining buildings which are 300 years old and listed remains a challenge and
budgets must be robust to take accounl of the unexpected.
d> Reserves Pollcy
Our Resenies Policy aims to mitigate the risk of a financial disaster and to build up funds for Major repairs and
refijrbishments. It is the policy that any additional surplus income will be applied for charitsble PUTposes. Borrowings
will be reduced when appropriate. Any reduction in endowment income would have the effect of reducing our
capacty to make grants at the same level.
Unrestricted funds totalling £1,823,632 on 31 December 2024 consist of fixed assets for charity use (less loans to
finance) of £1.036,211, designated funds set aside for extraordinary repairs of £134,272 leaving free reserves of
£653,149. £500,000 of this was represented by an investment property leaving cash reserves of £153,149.
el Financial management
Income and capitsl values a￿ monitored on a quarterly basis.
Risk review
The Charity maintains a risk register. All risks are monitored and reviewed regularly, and systems have been
established to mitigate those risks. The principal risks are the deterioration in the buildings at Stones Court leading
to difficulties in getting new residents,. a fall in local government funding of needy residents,. a fall in the valuel
income of investments.. or a loss of key staff.
Plans for future periods
The almshouses at Stones Court will continue to be maintained to a high standard, and the essential refurbishment
of the Parsons building will start when suiTicient funds are available.
The fijnds from the Gosford land sale will be used for the refvrbishment and to finance further grant making
activities. The stralegy is to expand grant making activilies supporting more individuals in need and organisations
which support them. This will involve extending the outreach programme thereby ensuring that funds are used
effectively across the City

THE CITY OF OXFORD CHARITY LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Structure, governance and management
The Charity operates as a company limited by guarantee. The Charity's Scheme, approved by the Charity
Cornmission in 2004 is incorporated in the company's Articles of Association.
All assets and liabilities, except the Stones Court properties, are owned by the limiled company. The unincorporated
body continues to hold the almshouses as its only asset.
The Trustees are the Directors, and administer the company asslsted by the Clerk as Chief Executive and Company
Secretsry. The Chairperson ofTrustees is the Chair of the Board.
The Trustees are appointed to sub-committees (Finance and General Purposes, Grants, Educatlon, Stone5 Courti.
There is a scheme for induction of new Irustees. Vvhen a vacancy for a co-opted Trustee occurs, Ihe needs of the
Irusl are considered after a skills audit has been undertaken, and the trustees are invited to suggest suitable
candidates, from whom an appointment is made
The trustees, who are also the directors for the purpose of Company law. and who served during the year and up to
the date of signature of the financial statements were..
l Bratby
Miss C E Christie
M Clements
B Coyne
W S Cronan
A J FainMeather-Tall
JFry
J G M Gay.. Vice Chair
J V Gould
C E Hilliard
A J Hollingsworth
E F Joint
G R Jones
P L Kennedy
J L Mactaggart.. Chair
E Mundy
S Pressel
Cmsimm
C S F Smowion
J H Tomes
A L Wamer May
J K Williams
{Resigned 25 October 20241
(Appointed 25 Ociober 20241
(Resigned 26 July 20241
Funds held as Custodian trustee
We hold no funds as custodian trustee

THE CITY OF OXFORD CHARITY LIMITED
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Disclosure of inforniatlon to auditor
Each of the tnjstees has confimied that there is no information of which they are aware which is relevant to the
audit, but of which the auditor is unaware. They have further confimied that they have taken appropriate steps to
identify such relevant information and to establish that the auditor is aware of such information.
This report has been prepared in accordance with the Small Companies Regime under the CompaniesAct 2006.
The trustees, report was approved by the Board of Trustee5.
J L MactaggarL' Chair
Trustee
Date: ..

THE CITY OF OXFORD CHARITY LIMITED
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees, who are also the director5 of The City of Oxford Charity Limited for the purpose of company law, are
responsible for preparing the Trustees, Report and the financial statement5 in accordance with applicable law and
United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Cornpany law requires the trustees to prepare financial statements for each financial year which give a true and fair
view of the stale of affairs of the charity and of the incoming resources and gpplication of resources. including the
income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
select suilable accounting policies and then apply them consistent￿-,
observe the methods and principles in the Charities SORP.,
make judgements and estimates that are reasonable and prudent-
state whether applicable UK Accounting Standards have been followed, subject to any material departures
disclosed and explalned in the financial statements., and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the thaTity
will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose wlth reasonable accuracy at
any time the financial position of the charity and enable them to ensure that the financial statements comply with the
Companle5 Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking
reasonable steps for the prevention and detedion of fraud and other irregularities.

THE CITY OF OXFORD CHARITY LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF THE CITY OF OXFORD CHARITY LIMITED
Opinion
We have audited the financial ststements of The City of Oxford Charity Limited (the 'charity') for the year ended 31
December 2024 which cornpri5e the statement of financial activities. the summary income and expenditure accounl.
the balance sheet and notes to the financial statements, including Significant accounting policies. The financial
reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting
Stsndards, including Financial Reporting Standard 102 The Financial Reporting Standany applicable in the UK and
RepubliG of Ireland (United Kingdom Generally AC￿pted Accounting Practice).
In our opinion, the financial statements..
give a true and fair view of the state of the charitable company's affairs as at 31 December 2024 and of its
incoming resou￿5 and application of resources, including its income and expenditure, for the year then
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice..
and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinlon
We conducted our audit in accordan￿ wilh International Standards on Auditing (UK) IISA5 (UKI) and applicable
law. Our responsibilities under those standards are further described in the Auditoffs ￿spOnSibl11t1eS for the audit of
the financial statements section of our report. We are Independent of the charity in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical
Standard, and we have fuffilled our other ethical responsibilities in accordan￿ with these requirements. We believe
that the audil evidence we have obtsined is sufficient and appropriate to provide a basis for our opinion.
Concluslons relating to going concem
In auditing the financial statements, we have conduded that the trustees. use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have perfomied, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the charivs ability to continue as a going
concern for a period of at least iwelve months from when the financial statements are authorised for issue.
Our responsibilities and the responslbilities of the trustees with respect to going concern are described in the
relevant sections of this report.
Other Infomiation
The other inforrnation comprises the information induded in the annual report other than the financial statements
and our auditors report thereon. The trustees are responsible for the other information contained within the annual
reporL Our opinion on the financial statements does not cover the other information and, except to the extent
otherwise explicilty stated in our reporl. we do not expiess any form of assurance conclusion thereon. Our
responsibilty is to read the other information and. in doing so, consider whether the other information is materially
inconsistent with the financial statements or our knowledge obtained in the course of the audit, or othewise appears
to be materially rnisstated. If we identty such material inconsistencies or apparent material misstatements, we are
required to detemiine whether this gives rise to a material misststement in the financial statements themselves. If,
based on the Work we have perfomied, we conclude that there is a material misstatement of this other information.
we are required to report that facL
We have nothing to report in this ￿gard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audiL-
the information given in the trustees, report for the financial year for which the flnanclal statemenls are
prepared, which includes the directors, report prepared for the purposes of company law, is consistent with the
financial statements., and
the directors. report included within the trustees, report has been prepared in accordance with 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 which we are requlred to report by exception
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the
audit, we have not identified material misstatements in the directors, ￿port included within the trustees, report.
We have nothing to report in respect of the following matters in relation to which the Companies Aot 2006 requires
us to report to you if, in our opinion..
adequate accounting records have nol been kept, or retums adequate for our audit have not been re￿IVed
from branches not visited by us., or
the financial statements are not in agreement with the accounting records and relums; or
certain disclosures of trustees, remuneration specified by law are not made-, or
we have not received all the information and explanations we require for our audit., or
the trustees were not entitled to prepare the financial statements in accordance with the small companie5
regime and take advantage of the small companies. exemptions in preparing the trustees, report and from the
requirement to prepare a strategic report.
Responsibilltles of trustees
As explained more fully in the statement of tru5tees' responsibilities, the trustees, who are also the direclors of the
charity for the purpose of company law. are responsible for the preparation ofthe financial statements and for being
satisfied that they give a true and fair view, and for such Intsrnal control as the trustees determine is necessary to
enable the preparation of financial statements that are free from material misstatement, whether due to fraud or
error. In preparing the financial statements, the truslees are responsible for assessing the charty's ability to
continue as a going concern, disclosing, as applicable, matters related to going concern and using the golng
concem basis of accounting unless the trustees either intend to liquidate the charitable company or to ￿ase
operations, or have no realistic alternative but to do so.
Audlto¢s responsibilities for the audlt of the financial statements
Our objectives are to obtain reasonable gssurance about whether the financial statements a5 9 whole gre free from
material misstatement, whether due to fraud or error. and to issue an auditovs report that includes our opinion.
Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordan
with ISAS (UK) will always detect a malerial misstatement when it exists. Misstatements can arise from fraud or
error and are considered material if, individually or in the aggregate, they could reasonably be expecled to influence
the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

THE CITY OF OXFORD CHARITY LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF THE CITY OF OXFORD CHARITY LIMITED
the engagement partner ensured that the engagernent team collectively had the appropriate competence,
capabililies and skills to identify or recognise non-compliance with applicable laws and regulations.,
we identified the laws and regulations applicable to the company through discussions with directors and
other management, and from our knowledge and experience.
we focused on specific laws and regulations which we considered may have a direct material effect on the
financial statements or the operations of the company-
we assessed the extent of compliance with the laws and regulations identified above Ihrough making
enquiries of management and inspecting legal cO￿espondence where applicable- and
identified laws and regulations were communicated within the audit team regularty and the team remained
alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining an
understanding of how fraud might occur, by:
making enquiries of managemenl as lo where they considered there was susceptibility to fraud, their
knowledge of actual. suspected and alleged fraud; and
considering the internal controls In place to mitigate risks of fraud and non-compliance with laws and
regulatlons.
To address the rlsk of fraud through tnanagement bias and ove￿Ide of controls, we..
performed analytical procedures to identify any unusual or unexpected relationships-,
tested joumal entries to identify unusual transactions.,
assessed whether judgements and assumptions made in determining the accounting estimates were
indicative of potential bia5- and
investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations. we designed procedures
which included, but were not limited to..
agreeing financial statement disclosures to undertying supporting docurnentation-
reading the minutes of meetings of those charged with govemance..
enquiring of management as to actual and potential litigation and claims:
reviewing relevant Co￿espOndence.
There are inherent limitslions in our audit procedures described above. The more removed that laws and
regulations are from financial transactions, the less likely it is that we would become aware of nonwcompliance.
Auditing standards also limit the audit procedures required to identfy non-compliance with laws and regulations to
enquiry of the directors and other management and the inspection of regulatory and legal co￿espOndence, if any.
Material misststements that arise due to fraud can be harder to detect than those that arise from error as they may
involve deliberate concealment or collusion.
A further description of our responsibllities is available on the Financi81 Reporting Council'5 website at: https=Il
www.frc.org.uklauditorsresponsibilities. This description forms part of our auditorfs report.

THE CITY OF OXFORD CHARITY LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF THE CITY OF OXFORD CHARITY LIMITED
Use of our roport
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16
of the Companies Act 2006. Our audit Work has been undertaken so thatwe might State to the charitable company's
members those matter5 we are required to state to them in an auditor's report and for no other purpose. To the
fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charilable
company and the charitable company's members as a body, for our auditwork, for this report, or for the opinions we
have formed.
Robert Kirtland
{SeniorSlatutory Auditor)
For and on behalf of Gravita Audit Oxford LLP, Ststutory Auditor
CharteredAccountants
First Floor. Park Central
4041 Park End Street
Oxford
OX11JD
Dat8- 121512025

THE CITY OF OXFORD CHARITY LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrestrlcted Endowment
funds
funds
2024
2024
Total Unrestricted Endowment
funds
funds
2023
2023
Total
2024
2023
Notas
Income from:
Donations and legacies
Charitable activities
Other trading activities
Investments
1,861
186,356
56,481
201,911
1,861
186,356
56,481
201,911
20,661
199,267
19,275
214,508
20,661
199,267
19,275
214,508
Total Income
446,609
446,609
453,711
453,711
Expenditure on:
Raising funds
Charitable activits'es
13,918
475,740
16,217
30.135
475,740
13,954
506,419
15.784
29.738
506,419
Tolal expenditure
489,658
16.217
505,875
520,373
15.784
536.157
Net gainsl(lossesl on
investments
13
100,000
531,613
631,613
3,438,175 3,438,175
Net income
56,951
515,396
572,347
(66,662) 3,422,391
3,355.729
Transfers between
funds
65,439
(65,439)
71,271
171.271)
Net movement in
funds
11
122,390
449.957
572,347
4,609 3,351,120 3,355,729
Reconciliation of funds:
Fund balances at 1 January
2024
1,701,242 9,400,656 11,101,898
1,696,633 6,049,536 7,746,169
Fund balances at 31
Docember 2024
1,823.632
9,850,613 11,674,245
1,701,242 9,400,656 11.101,898
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure
derive from continuing activities.
10-

THE CITY OF OXFORD CHARITY LIMITED
SUMMARY INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
All income funds
2024
2023
Gross income
Gains on investments
Transferfrom endowment funds
446,609
100,000
65,439
453.711
71,271
Total income in the reportlng period
612,048
524,982
Total expenditure from income fijnds
489,658
520,373
Net income for the yoar
122,390
4,609
11

THE CITY OF OXFORD CHARITY LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Notes
Fixed assets
Tangible assets
Investment properties
Investments
15
16
17
1.566.442
6,190,000
4,032,528
1,635,337
5.900.000
3,765.557
11,788,970
11,300,894
Current assets
Debtors
Cash at bank and in hand
19
6,032
334.223
11,826
384,763
340,255
396.589
Credltor5: amounts falllng due withln
one year
21
{99.077)
(142,456)
Net cu￿ent assets
241,178
254.133
Total assets less current liabilities
12,030.148
11,555.027
Credltor5: amounts falllng due after
rnore than one year
22
(355,903)
(453,129)
Net assets
11,674,245
11,101.898
Capital funds
Expendable endowment
9,850,613
9,400,656
25
9.850,613
9.400,656
Income fund5
Unrestricted funds
Designated funds
General unrestricted funds
26
134.272
1,689.360
108.027
1,593,215
1.823.632
1.701,242
11.674,245
11.101,898
The financial statements were approved and authorised for issue by the Trustees on
J V Gould
Trustee
ompany Registration No. 10670170
12-

THE CITY OF OXFORD CHARITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
Charlty information
The City of Oxford Charity Limited is a private company limiled by guarantee incorporated in England and
Wales. The registered office is The Office, Stones Court, St Clements, Oxford, OX4 1AP.
1.1 Accounting conventlon
The financial statements have been prepared in accordance with the charity's governlng document, the
Companies Act 2006, FRS 102 The Financial Reporting Standard applicable in the UK and Republic of
Ireland" {'FRS 102.1 and the Charities SORP "Accounting and Reporting by Charities: Ststement of
Recommended Practice appllcable to charities preparing their accounts in gccordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The
charity is a Public 8enefrt Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of
Cash Flows.
The charity acquired the net assets of unlncorporated Cty of Oxford Charity (registered Offi￿ as above) on 1
December 2017 and this has been accounled for using merger accounting as required by the FRS 102 SORP
in order to present a true and fair view.
For assets under a 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 induded in its
financial statements.
The financial statements are prepared in sterling, whith is the functional currency of the charity. Monetary
amounts in these financlal statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modrfied to include
investmenl properti85 and certain fingncial instruments at fair value. The principal accounting policies adopted
are set out below.
1.2 Golng concern
At the time of approving the financial statements, the trustees have a reason8ble expectation that the charity
has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees
continue to adopt the going concem basis of accounting in preparing the financial statements.
1.3 Charltable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable
oblectlves.
Oesignaled fijnds comprlse unrestricted funds that have been set aside by the Trustees for parlicular
purposes.
Restricted funds are subject to specific conditions by donors or grantors as to how Ihey may be used. The
purposes and uses of the restrlcted funds are set out in the notes to the financial statements.
Endowment funds represents assets, mainly investments, where the intention is for those to be held long term
for the benefit of the Cha￿ty. Income from the main expendable endowment is unrestricted. Any capital gains
or losses fom part ofthe fund.
IA Income
Income is recognised when the charity is legalty entitled to it after any performance conditions have been met,
the amounts can be measured reliably, and it is probable that income will be received.
13-

THE CITY OF OXFORD CHARITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting pollcies
(Continued)
Legacies are recognised on receipt or otheThvise if the charty has been notitied of an impending distribLrtion.
Ihe amount is known, and receipt is expected. If the amount is not known. the legacy is treated as a
contingent asset.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a
third party. it is probable that a transfer of economic benefits will be required in settlement, and the amount of
the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activty are made up of the total of direct costs and
shared costs. including support costs involved in undertaking each activity- Direct costs attributsble to a single
activity are allocated directly to that activty- Shared costs which contribute to more than one activity and
support costs which are not attributable to a single activty are apportioned between those activities on a basis
consistent with the use of resources. Central staff costs are allocated on the basi5 of time spent. and
depreciation charges are allocated on the portion of the asset's use.
Grants are induded in the accounts once they are approved for payment by the trustees. These are grants to
individuals and organisations for srnall amounts.
1.6 Tangible fixed assets
Tangible fixed assets are initialty measured al cost and subsequentty measured at cost or valuation, net of
depreciation and any impairment losses.
The properties concemed are stated in the accounts at cost. Prior to 2007 all repairs and improvement lo
Stones Court were induded in the Statement of Financial Activities. However, the charity has undertaken iwo
major improvements to Stones Court which have been mainly funded by bank loans and a loan from the
endowment. Given these enhan￿d Stones Court, these major improvements have been capitslised and are
being depreciated
Depreciation is recognised so as to ￿lte off the cost or valuation of assets less their residual values over their
useful lives on the following bases=
Freehold buildings
30 years
1.7 Investrient properties
Investment property. which is propety held to eam rentsls andlor for capital appreciation, is initialty
recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently
it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the
Statement of Financial Activities.
1.8 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are
subsequenlly measured al fair value at each reporting date. Changes in fair value are recognised in net
incomellexpenditure) for the year. Transaction Costs are expensed as incurred.
1.9 Cash and cash equivalent5
Cash and cash equivalenls include cash in hand. deposit5 held at call with banks, other short-term liquid
investments wrth original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in cu￿ent liabilities.
14-

THE CITY OF OXFORD CHARITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng policies
(Continued)
1.10 Flnanclal instruments
The charity has elected lo apply the provisions of Section 11 'Basic Financial Instruments, and Section 12
'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charty's balance sheet when the charity becomes paty to the
contractual provisions of the instrument.
Financial assets and liabilities are offset, wilh the net amounts presented in the financial slatements, when
there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net
basis or to realise the asset and settle the liability simultaneously.
Basi¢ financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price.
Basic financial liabilitles
Basic financial liabilities, including creditors and bank loans are initially recognised at trgnsaction price unless
the arrangement constitutes a financing transaction, where the debt instrument is measured at the present
value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable
within one year are not amortised.
Debt instruments are subsequently Ca￿led at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been gcquired in the ordinary course of
operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one
year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at
transaction price and subsequently measured at amortised cost using the effective interest method.
1.11 Retirement beneflts
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Crltlcal accounting estimates and Judgèments
In the application of the charity's accounting policies. the trustees are required to make judgements, estimales
and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other
sources. The estimates and associated assumptions are based on historical experience and other factors that
are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumplions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the peThod in which the estimate is revised where the revision affects only that
period. or in the period of the revision and future periods where the revision affects both current and future
periods.
Crltlcal Judgements
Land value
Valuation of land wilh potential development value- see Investment Property note for more det8ils
15-

THE CITY OF OXFORD CHARITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Income from donations and lega¢ies
Unrestrf¢ted
funds
2024
Unrestricted
funds
2023
Donations and gits
Legacies
1.861
661
20,000
1.861
20.661
Income from charitable activities
Unrestricted
funds
2024
Unrestrictsd
funds
2023
Stones Court
Charitable rental income
Less.. Grants payable to residents
190.100
(3,744>
202,962
{3,695)
186.356
199,267
Income from other tradlng activitles
Unrestricted Unrestrlcted
funds
funds
2024
2023
Stones Court commerical rents
56,481
19.275
Investments
Unrestricted Unrestricted
funds
funds
2024
2023
Rental income
Income from investrnents & interest
103.975
97,936
120,397
94,111
201,911
214,508
16-

THE CITY OF OXFORD CHARITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Raising funds
Unrestrictsd Endowment
funds
funds
g6neral
2024
Total Unrestricted Endowment
funds
funds
general
2023
Total
2024
2024
2023
2023
Commercial let costs
Investment propety
expenses
10,777
10,777
5,352
5,352
3,141
3,141
8,602
8.602
Tradlng costs
Investment management
fees
13,918
13,918
13,954
13,954
16,217
16,217
15,784
15,784
13,918
16,217
30.135
13,954
15,784
29,738
17-

THE CITY OF OXFORD CHARITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Expenditure on charftable activltles
Stones
Court
2024
Grant
Making
2024
Total
Stones
Court
2023
Grant
Maklng
2023
Totsl
2024
2023
Direct costs
Staff costs
Depreciation and
impairment
Loan interest
Repairs and maintenance
stones Court heat, light
and water
stones Court regular
services
32,479
32.479
30,645
30,645
79,951
26,349
48,871
79,951
26,349
48,871
79,951
44.426
94,367
79,951
44.426
94,367
18,886
18,886
16,913
16,913
22,044
22.044
20.999
20,999
228,580
228.580
287,301
287,301
Grant fijnding of activities
(see note 9)
153,523
153.523
140,718
140.718
Share of support and governance costs (see note 10)
Support
40,390
43,929
Governance
5,591
3,727
84.319
9,318
33,744
5.083
36.184
3,389
69,928
8,472
274,561
201,179
475,740
326.128
180,291
506.419
Analysls by fund
Unrestricted funds
274,561
201,179
475,740
326,128
180,291
506.419
18-

THE CITY OF OXFORD CHARITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Grants payable
Grant making Grant making
2024
2023
Grants to institutions..
Adapt Charity
Art at the Old Fire Station
The Oxford Baby Bank
RAW Workshop5
Connection Support
Home Stsrt
Homeless Oxfordshire
Parasol Project
The PorL*
Agnes Smith
1,750
1,750
1,750
1,750
1,000
3.000
1,000
8,400
5,000
2,000
4,970
2,000
1,180
28,550
7.000
Grants to individuals
124,973
133,718
153.523
140,718
10 Support costs
Support
Governance
2024
Support Governance
2023
Staff costs
Printing, postage, bank
charges & sundry costs
60,896
60,896
52,324
52,324
23,423
23,423
17,604
17,604
Audit fees
Legal and professional
7.800
1,518
7,800
1,518
7,128
7,128
84,319
9,318
93,637
69,928
8,472
78,400
11 Net movement In funds
2024
2023
The net movement in funds is stated after chargingl{crediting)'.
Fees payable for the audit of the charity's financial statements
Depreciation of owned tangible fixed assets
7,800
79,951
7,128
79,951
19-

THE CITY OF OXFORD CHARITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
12 Employees
The average monthly number of employees during the year was..
2024
Number
2023
Number
Totsl
Employment costs
2024
2023
Wages and salaries
Social security costs
Other pension costs
83,544
7,913
1,918
74.954
6,786
1.229
93.375
82.969
There were no employees whose annual remuneration was more than £60,000.
13 Galns and losses on investments
Unrestrlcted Endowment
funds
funds
2024
2024
Tolal Unrestricted End0%￿ent
funds
funds
2023
2023
Total
2024
2023
Gainsl{losses) arising on:
Revaluation of
investrnents
Revaluation of investment
properties
341,613
341,613
138,175
138,175
100,000
190,000
290,000
3,300,000 3.300,000
100,000
531.613
631,613
3,438,175 3,438.175
14 Taxation
The charity is exempt from taxation on its activities because all it5 incorne is applied for charitsble purposes.
-20-

THE CITY OF OXFORD CHARITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
15 Tangible fjxed assets
Froohold As$ots undor
bulldlng$ ¢Dnstru¢tlon
Total
Cost
At 1 January 2024
Additions
2.398,529
17,742 2.416,271
11,056
11,056
At 31 December 2024
2,398,529
28,798 2,427,327
Depreciation and Impalmient
At 1 January 2024
Depreciation charged in the year
760,934
79,951
780,934
79.951
At 31 December 2024
860,885
860,885
Carrying arnount
At 31 December 2024
1,537,644
28,798 1.566,442
At 31 December 2023
1,617,595
17,742 1.635.337
21

THE CITY OF OXFORD CHARITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
16 Investrient property
2024
Fair value
Al 1 January 2024
Net gains or losses through fair value adjustments
5,900.000
290,000
At 31 December 2024
6.190.000
Investment Properties
The fair value of the investment properties of £1.690.000 has been arrived at on the basis of a valuation
carried out by Peck Propety Consultants. Chartered Surveyors in December 2024.
Land
The council agreed a resolution to grant planning pemiission subject to S106 and any potential Judicial
Review. If residential planning pemiission is obtained the land could be worth over £8 million. Given the
resolution to grant planning permission the tn15tees have decided to recognise an uplift in value of the land to
£4.5 million. which is in excess of its agricultural value previously estimated at £99,000.
-22-

THE CITY OF OXFORD CHARITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
17 Fixed asset investm&nts
Listed
Investmants
Cash in
portfollo
Total
Cost or valuation
At 1 January 2024
Additions
Valuation changes
Movement in cash held
Disposals
3,731,408
1,165,471
341,613
34,149
11 ,165,471)
3,765,557
341,613
(74.642)
174,642)
1,326,473
(1,328,473)
At 31 December 2024
3,912,019
120,509
4.032,528
Carrylng amount
At 31 December 2024
3,912,019
120,509
4,032.528
At 31 December 2023
3,731,408
34,149
3,765,557
18 Financial instruments
2024
2023
Carrying amount of financlal assets
Instruments measured at fair value through the Statement of Financial
Activities
3,912.019
3,731,408
19 Debtors
2024
2023
Amounts falllng due wlthln one year:
Trade debtors
Other debtors
3,344
8,482
6,032
6.032
11,826
20 Loans and overdrafts
2024
2023
Bank loans
405,229
500.633
Payable within one year
Payable after one year
49,326
355,903
47,504
453,129
Amounts included above which fall due after five years-
Payable by instalments
160,494
281,421
23-

THE CITY OF OXFORD CHARITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
20 Loans and overdrafts
(Continued)
The long-tem loans are secured by a charge over of the charitys investment properties. £725,000 of Ihe
available £750,000 loan had been drawn at the year*nd. This loan will be repayable in instalments over 15
years. Interest is payable at 3% above the bank's floating interest rate.
21 Creditors: amounts falling due within one year
2024
2023
Notes
Bank loans
Deferred income
Grants payable
Accruals
20
23
49.326
20,967
13,249
15.535
47.504
19,532
6.190
69,230
99.077
142,456
22 Creditors: amounts falllng due after more than one year
2024
2023
Notes
Bank loans
20
355,903
453,129
23 Deferred Income
2024
2023
Other deferred income
20,967
19,532
Deferred income is induded in the financial statements as follows:
2024
2023
Deferred income 15 included within..
Current liabilities
20,967
19.532
Movements in the year..
Defetred income at 1 January 2024
Released from previous petiods
Resources deferred in the year
19,532
(19,532)
20.967
165
(165)
19.532
Defe￿ed income at 31 December 2024
20.967
19.532
-24-

THE CITY OF OXFORD CHARITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
24 Retirement benefit schemes
2024
2023
Defined contrlbutlon schemes
Charge to income and expenditure account in respect of defined contribution
schemes
1,918
1,229
The charity operates a defined contribution pension scheme for all quallfylng employees. The assets of the
scheme are held separately from those of the charity in an independently administered fvnd.
-25-

THE CITY OF OXFORD CHARITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2024
25 endov•Thentfvnd8
Endowment funds represent a&8els whiGh musl be held pennanendy bylhe tharity. Income arf￿n9 on thè ￿dOwment funds can be used in arthanR the obJeLts
olthe chanty is Included as unrestricted incoma. Any Capi￿ gains or losses on lh8 88Setsfomi part ofthe fund.
lane• 4t Exp•ThdMure
1 J*nu*ry 2D23
84tsn¢• at Exp•ndhurn
Tran•fer¥
G•ln•
BalanE• at
2D14
Expendable endov•Thents
The ctyof0￿Ord Charfty
8,049.536
115.7841
(71,2711 3.438.175
5,40D,556
118.2171
165,4391
531.613 9.850.613
8,049.536
115,7841
(71,2711 3.438.175 9,40D,656
116,2171
16S,4391
531.613 9.850.813
Thè city ofoxford Charfty
This TS an eypend8ble endowmanl and represents the Inv8stmènts h&1 ty Ihis fvnd. In •JdIt￿n ￿￿ra18 8 pam*ienl endowm2nt of the Stone5 Cwi18nd whlch Is stiii
hdd ty the Unhco￿Orat8d Clty Df Oxford Charfty. Howe¥erlh2 hisknc¢))sl of this is 8ffethdy2ero *d henry Ihere no fund b8lanr4.
The ¢he￿ty Ss now managing 115 fixed asset Investments M a'totsl return, b8sSs *)d the transferabove rewesent5 the amounttran5f8rr8d to unre8bfj¢tad funds in e¥r*ss
ofthe auua investment income.

THE CITY OF OXFORD CHARITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
26 Deslgnated funds
The unrestricted funds of the charity comprise the unexpended balances of donalions and grants which are
not subject Io specific conditions by donors and grantors as to how they may be used. These include
designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
Movement In funds
In¢0
Transfevs
Movèment in funds
Incom?
Transfers
Bglance at
1 January 2023
Balan¢0 #t
1 January 2024
Balance at
31 D•cemb•r
2024
Extraordinary
repairs fund
87,849
178
20,000
108,027
6,245
20,000
134.272
87,849
178
20,000
108.027
6,245
20,000
134.272
27 Anatysls of net assets betbveen funds
Unrestricted Endowmènt
funds
funds
2024
2024
Total Unrestricted Endowment
funds
funds
2023
2023
Total
2024
2023
Fund balances at 31
December 2024 are
represented by..
Tangible assets
Investment properties
Investments
Loan belween funds
Cu￿ent assetsl(liabilities)
Long term liabilitie5
1,566,442
1,566.442
500,000 5,690,000 6,190,000
4,032.528
4,032,528
125,002
3,083
1,635,337
400,000
1,635.337
5.900,000
3,765,557
5,500,000
3,765,557
133,337
1,762
1125,0021
238,095
1355.903)
(133,3371
241,178
252.371
(355,903) {453,1291
254.133
1453,129)
1,823,632
9,850,613 11,674,245
1,701,242
9,400,656 11.101.898
Loan between funds represents a loan from the charity's general endowment to its unrestricted funds. The
purpose of this loan is to gSSlSt in funding the redevelopment works on Stones Court as authorised by the
Charity Commission. This loan is to be repaid over 30 years at an annual rate of £8,333 per annum.
28 Related party transactions
None of the trustees were reimbursed expenses during the (2023.. No trustees reimbursed).
The Trustees received no remuneration (2023.. nil).
There was one related paty transaction in the yearworth £95 relating to Almhouses Training12023: None)
-27-