pl
Oxford
Hospitals,
Charity
Annual Report
and Accounts
Year ended 31 March 2025
Oxford
Chlldren's
Hoswi
Chtsrity
Oxford
Hosplta15
Charlty
General
Chorlty
Oxford Hospitols Charity.
Registered charity no. 1175809. Company no. 11052176.

Contents
Reference and administrative details
About Oxford Hospitals Charitv
Strvcture, governance and management
Achievements and performance
Financial review
Othei policies
io
Fundraising review
li
Risk management
12
Plans for future periods
14
Statement of Trustees, responsibilities
15
Independent auditor's report
16
Statement of financial activities
21
Balance sheet
22
Statement of cash flows
23
Notes to the accounts
24

OXFORD HOSPITALS CHARITY REPORT AND ACCOUNTS12024-202S
Oxford Hospitals Charity
Reference and administrative details
A charity registered in England and Wales - charity number 1175809
A company limited by guarantee- company number 11052176
Address
Oxford Hospitals Charity
Wood Centre for Innovation.
Quarry Road. Oxford.
OX3 8SB
Contart us
www.hospitalcharity.co.uk
charity@ouh.nhs.uk
01865 743444
Olrectors/
Trustees
Lady Baldry
Mrs Rebecca Kashti
Professor David Matthews Ichairl
Dr Aparna Pal
Dr 8rian Shine
Mr Keith Stacey
Mr Graham Steinsberg
Mrs Anne Tutt
CEO
Dr Douglas Graham
Bankersl
Investments
Lloyd5 Bank
I" Floor,
33 Old Broad St
London
EC2N IHZ
Rothschild & Co
St Julian's Court
St Peter Port
Guernsey
GYI 3BP
Audltor
Moore Kingston Smith LLP
6, Floor
9 Appold Street
London
EC2A 2AP

2024-20251 OXFORD HOSPITALS CHARITY REPOR T AND ACCOUNTS
About Oxford Hospitals Charity
Objectives and activities
Oxford Hospltals Charlty supports the
Strategic priorities of Oxford University
Hospltals NHS Foundation Trust IOUH} in
providing the best possible healthcare for its
catchment area of around two million
people from across the reglon and beyond.
From the smaller things, like providing music
on wards, to larger projects, such as funding
state-of-the-art medical equipment, Oxford
Hospitals Charity is here to make a positive
difference for hospital patients and staff.
We work very closely with the OUH Trust
Executive and clinical colleagues across the
hospita15, under the guidance
of our
dedicated Trustees. to ensure donations are
well spent and have the maximum impact for
patients and staff.
The Charity helps transform our hospitals
funding the very latest medical equipment.
Innovative technology and research. and
specialist training for clinical staff.
Fundraising. donations and gifts in Wills all
help to improve the hospital environment for
patients and the staff that care for them,
making wards, waiting rooms, staff area5 and
hospital
spaces
more welcoming and
comfortable.
Our values
The need5 of patient5 and hospital staff are
at the heart of all we do.
We are a local charity with a big impact,
inspired by our patients, supporters and
h05Pltal staff.
We are loyal to and proud of our NHS
hospltals and the staff who serve in them.
Our values steer our work and we seek to
demonstrate them in all our activities.
The Charity also supports the wellbeing of
hospital staff
improving rest areas, and
providing wellbeing packs and other simple
enhancements. Some funding is also used to
provide specialist support for dedicated
clinical staff.
Our Charity works across the John Radcliffe.
Churchill, Nuff ield Orthopaedic Centre.
Horton General and Oxford Children's
Hospital, with every ward and department
across some 40 sites able to benef it from the
positive impact of charitable support.
Respect
Ambition
Collaboration
Openness
This is all thanks to thoughtful and generous
groups and individuals who donate to make a
difference in their local communitv.
Public benefit
The Trustees confirm that they have paid due
regard to the Charity Commission's general
guidance on public benefit. and are mindful of
ensuring that funds are used to best effect in
the interests of the Trust's patients and staff.

OXFORD HOSPITALS CHARITY REPORT AND ACCOUNTS12024-2025
Structure, governance & management
Statutory background
The Charity is governed by its governing
document.. the memorandum and articles of
association dated 7 November 2017.
Oxford Hospitals Charity (charity number
11758091 was formed as an independent
charity on l January 2018 taking on the
activities and assets of our predecessor
charity, Oxford Radcliffe Hospitals IORHI
Charitable Funds (charity no 10572951.
Group structure
The Charity has a wholly owned trading
subsidiary, OHC Developments Limited IODLI,
with paid-up share capital of £100. ODL was
incorporated in England and Wales on 25
March 2019. The company develops staft
accommodation.
The Charity is made up of a large number of
funds which may be used to benefit
particular area of the hospital or medical
service, to 5UPPOrt a research project or to
fund certain training, equipment. support or
development services for OUH staff.
ODL has an Investment In Oxford Headington
Holdings,
joint venture with Oxford
University Hospitals NHS Foundation Trust.
Money received by the Charity for a particular
area/service is placed in these individual
funds to be used, as far as possible, in line
with the wishes of our donors. There are also
a number of general funds which are used for
areas of greatest need in our hospitals.
A summary of ODL'S trading results and net
assets can be seen in note 2. These results are
included in the 8roup con501idation.
Our Trustees
Each fund has at least one Fund Advisor
(usually a member of Trust staff with
specialist knowledge in the relevant areal
who is responsible for 518nin8 off fund
expenditure up to a certain level.
Fund
Advisors operate under the delegatecl
authority of the Trustees to ensure that the
money is spent appropriately, in accordance
with charity law and in line with the wishe5 of
the donor and for public benefit.
The Trustees of the charitable companv Ithe
Charity) are its directors for the purpose of
company law.
The Trustees meet at least qvarterly to make
policy
recommendations
and funding
decisions.
The Fund Advisors liaise with the Charity team
and receive financial statements. guidance
information and ongolng support and advice.

2024-20251 OXFORD HOSPITALS CHARITY REPORT AND ACCOU NTS
Structure, governance & management
When new Trustees are appointed, they
receive a comprehensive induction and
training programme. which includes spending
time with the Charity staff who administer the
Charity and manage fundraising activitv.
The Trustees who served during the year
ended 31 March 2025 and since the year end
are below.
Lady 8aldry
Mrs Rebecca Kashti
Professor David Matthews Ichair
Dr Aparna Pal
Dr Brian Shine
Mr Keith Stacev
Mr Graham Steinsberg
Mrs Anne Tutt
Our Trustees are appointed for a period of
four years. By agreement of the Trustees thls
period may be extended for an additional
period (normally not to exceed 12 years in
totall.
Oay to day management of the Charity is
delegated to CEO, Dr Douglas Graham.

OXFORD HOSPITALS CHARITY REPORT AND ACCOUNT512024-25
Achievements and performance
How we measure success
on support where appropriate.
The Charity sets an annual budget. balancing
ambition and reality for both our income and
expenditure.
Trustees
and
senior
management then monitor this through the
year and in comparison to previous years
taking into account income vs. budget, the
balances of the different funds. and the range
of applications for funding that arrive during
the year. A formal review of actual vs. budget
takes place at the September meeting of the
Board of Trustees.
Income to the whole charity sector was first
impacted by COVID and then by the Cost of
Living
¢risi5
and
ongoing
economic
uncertainties. To combat this, in 2024125 we
began planning a programme of investment in
fundraising.
This was part of an overall strategy to ensure
financial sustainability and growth of income
and charitable expenditure over the medium
to longer term. Further detèlls are provided in
the sections below.
The Charity continually aims to increase the
benefit it brings to patients and staff across
the Trust. We ensure that fundraisin8 and
other income generating activities are well
planned to provide a good return on
investment and also growth for the future.
We also always seek to maximise. in an
appropriate way, the returns from the
CharitWs investments.
For any charity the primary reason for raislng
funds is to then spend them on its charitable
objectives. And this year we were able to
fund over £4rn worth of medical equipment,
clinlcal projects, staff wellbeing projects, and
specialist training across the four hospitals.
We take care to ensure that we Spend our
funds in a way that has the maximum impact,
focusing on priority areas decided
in
conjunction with the OUH Trust executive and
clinical staff.
We actively seek information from the areas
we have supported on the impact ovr funding
has had on patients and staff. to ensure that
funds are achieving the appropriate results.
This allow5 US to report back to our
supporters and donors in person and via
letters, our webslte. magazines. reports, mass
email and social media.
Through our Programme team we proactively
engage across the hospitals and at all levels.
This is to ensure we understand the clinical
needs and can prioritise applications for
funding with most impatt. We deliver hands-

2024-20251 OXFORD HOSPITALS CHARITY REPORT AND ACCOUNTS
Achievements and performance
Significant charitable activities
work of our Major Donor and Programme
teams to find them the right project. Rhona
Watson.
Consultant
Therapeutic
Radiographer, talked of her gratitude for the
support of Oxford Hospitals Charity and her
excitement for this pioneering work.
Our community of supporters. donors and
fundraisers continued to go the extra mile for
their hospitals throughout the year.
Once again legacy donations through gifts in
Wills were an extremely important income
stream
with £3.1 million donated in this
special way. This includes a significant legacv
left to our haematology research fund. as well
as many other le83cies to areas across our
hospitals.
Community supporters participated in various
events throughout the year, including rowing
the Atlantic, Tough Mudders,, marathons,
mountain climbing, Skydiving, and our very
own OX5 RUN. We even saw one couple ask
for donations to Oxford Hospita15 Charity
instead of wedding gift5.
Gifts Ilke these really power the work of the
Charity, allowing US to transform our
hospitals. Recognising both the importance
and specialist nature of this form of donatin&
the Charity ha5 brought in its first Legacy and
In Memory Officer. This role will focus on
growing awareness of gift5 in Wills and
providin8 an excellent service to those who
wish to leave a legacy, solicitors and familv
members. The strategy aims to maximise the
potential of legacy 8ivin8 in both the short
and long term.
A particular highlight was the number of
children sUPPOrting us, including several local
schools. Six-year-old Sylvie became the face
of our Christmas appeal following her
fundraisin8 in thanks for her care in the
Oxford Children's Hospital. Her heartfelt
message about how hospital staff made her
'feel like she was a superhero,, was the focus
of our appeal.
Providing the extras that make young patients
like Sylvie feel happy and comfortable in
hospital is part of our regular programme of
SUPPOrt
with activities, toys, games,
computers and artwork funded wherever
children are treated. And this support has
become even more hand5 on since the official
opening of our Charity Hub in July 2024, at the
entrance to the Children's Hospital.
Our Major Gifts and Trust and Foundation
fundraising also performed very well, with a
number of significant donations and grants.
The team provides
bespoke service
matching donor interests to clinical needs.
working closely to ensure that the positive
impact of donations and grants are fully
maximised.
Our Hospital Engagement team ensures a
friendly and supportive welcome and
provides a wrap around service of kindne55
and sUPPOrt for families when they need it
most.
Funding from one of their donors was used to
equip the Radiography team at the Churchill
Hospital to perform a UK-fir5t procedure to
help guide radiotherapy treatment for brain
turnour patients with 'pinpoint accuracy..
This advance, which received widespread
press interest, would not have been possible
without the generosity of this donor and the

OXFORD HOSPITALS CHARITY REPORT AND ACCOUNTS12024-25
The hub, which is fully branded with a digital
screen and tap to donate machine. h35
become a little oasis for families. as well as
somewhere they can learn about the work of
the Charity. donate or sign up to events.
calm, distract and engage patients. young and
old, also continues to be important
with
numerous projects enhancing our hospitals.
Providing support for NHS staff, whether by
improving staff rooms and changing spaces,
funding their programmes of research or
5UPPOrting specialist training and learning - is
also a fundamental role of our charity.
The team engages with hospital staff. from
thepinkandteal hub. helpingtosteersupport
to areas thèt need it m05t.
The Char5ty colours are doing their work out
and about in the local community after our
charity won the Oxford Bus CompanWs'Brand
the Bus. Competition. This was against stiff
competition from 60 other charities, so we
were very proud to win this valuable prize and
are thrilled to see 'our bus. on a daily basis a5
It navigate5 the city.
All these prolerts and improvements make
the experience of hospltal so much better for
patient5 and staff. and we remain committed
to ensuring thls vltal work can continue for
the long term.
But, as recent years have taught us, the
charity landscape can move quickly, and our
senior management team recognises the
importance of diversifying so that we have a
range of tools and techniques to raise income.
We therefore spent time researching and
scoping potential new income streams and at
the end of the year committed to running a
lottery pilot within our hospitals, to ralse
more unrestricted income.
Growing awareness of the Charity like this is
key - and an ongoing programme of visibility
work across our hospitals continues.
And all this work, support ènd generosity has
one key goal,. our mission to enhance the
hospitals and make a real and lasting
difference for our patients and staff.
This pilot will. we hope, develop into an
important foundation of support for the
Charity, to underpin the improvements and
advances which are so vital in our hospitals.
Our Programme team, workin8 closely with
Finance,
Fundraising and Comms
has
overseen countless projects. innovations, and
advances throughout the year. This includes
the openin8 of a new Staff Accommodation
block on the John Radcliffe site
brlnging
better quality and more affordable key
worker accommodation to the heart of our
hospltals.
From the most high-tech innovations through
to smaller. but none the less impactful,
interventions for patients at their time of
need. Oxford Hospitals Charity works closely
with our NHS colleagues to ensure donations,
fundraising and gifts in Wills from our
community of supporters. work as hard as
possible to make a positive difference in our
hospitals.
Funding state-of-the-art equipment remains
at the forefront of our work, with recent
examples including= a specialist rehabilitation
treadmill at the Nuff ield Orthopaedic Centre
for patients recovering from strokes.. the
latest ultrasound technology to monitor
patients following complex heart surgery and
'game-changing' equSPTnent for Spinal and
brain surgery in children.
We remain hugely grateful to all those who
help us in our mission to enhance the
hospitals and make a real and lasting
difference for our patients and staff.
The role of art and music in our hospitals to

2024-20251 OXFORD HOSPITALS CHARITY REPORT AND ACCOUNTS
Financial review
Income
The CharIt￿S total income 2024/25 was
£6.5m. The majority of this was thanks to the
8eTier051ty of individuals, compènie5, and
grant-awarding trusts who made donations,
raised funds, left gifts in their Wills. and
awarded grants. The major categories of
income for the year were..
Other income
Grants from external organisations totalling
£1.4m were received in the period. This
includes a further £l.Om from the County Air
Ambulante Trust towards the creation of a
new helipad at the John Radcliffe Hospital.
We acknowledge and thank all Individuals,
groups and organisations for helplng us In
our actlvltles supportlng patients and staff
across our hospitals.
Legacles
Income
from legacies always ha5
an
important impact. They enable a variety of
projects- often of a larger scale- to take place
and more expensive pieces of medical
equipment to be purchased. By their very
nature the level of legacy income can vary
siEniflcantly year to year, however this
continues to be a vital source of our funding.
Investment policy
The Trustee5 continue to seek investment
returns which can be used to offset the
running COSt5 of the Charity and to provide
additional funding for charitable projects.
The Charity's investment policy was reviewed
by the Investment Committee in November
2024. The investment objective for the main
portfolio of financial investments is to
preserve the real value of capital and
maximise the tot31 investment return over
the longer term without takin8 undue risks.
providing
income
to
support
current
operations.
Donatlons from Indlvlduals and malor
donors
As a Charity we continue to be grateful to the
thousands of individuals who raise money and
donate, enabling the Charity to continue our
charitable expenditure across all the hospitals
we support.
Fundraising by groups and organi5ations
Alongside individual fundraising, we have also
seen a number of groups and organisations
continue to fundraise and donate to us as part
of their support of their community.
The Charity has a policy of not investing
directly in tobacco or armaments and where
investments are made in fLsnd5 the Charity
regularly monitors the underlying exposure of
the fund to those Sectors. The Charity does
not hold Short P051tions Isell stocks it does not
own).
Group trading activities
The Charity's trading subsidiary entered into
an agreement with HousinE Association
A2Dominion
to
redevelop
staff
accommodation on the Charitvs investment
land in 2019120. Spencer Court on the
Churchill site was opened in 2022, and this
year phase l of the Ivy Lane redevelopment
on the John Radcliffe site was completed and
opened.
The Charity investments are held in a
diversified portfolio and
managed by
specialist investment manager5 in line with
our investment policy.

OXFORD HOSPITALS CHARITY REPORT AND ACCOUNTS12024-25
Financial review
The Charity also holds part of its investment
assets in cash. Apart from balances required
to cover day to day cash flow. cash
investment5 are held in term deposits, timed
to mature when required for planned
charitable expenditure.
As explained above. the Charity has invested
in two properties with a view to providing
long-term quality staff accommodation for
Trust employees and to provide a fixed
investment return.
The Charity's primary concern in investing
cash is security. Accordingly. its policy is to
hold its cash with UK banks, with a minimum
rating of B+ and spread between several
institutions to limit exposure.

2024-20251 OXFORD HOSPITALS CHARITY REPORT AND ACCOUNTS
Other policies
Reserves policy
The Trustees set a target range for reserves.
Currently the minimum level for the target
range is set as the aggregate of..
Reserves
are defined by the Charity
Statement of Recommended Practice ISORPI
as "that part of a charity's unrestricted funds
that is freely available to be spent on any of
the charity's purposes"
12 months budgeted overhead costs; and
12 months charitable expenditure from the
general funds (based on historic average)
Maintaining a suff icient, but not excessive,
level of reserves is important to support the
activities of the Charity. by allowing us to
meet our running costs and ensure continuity
in our level of support for our hospitals in the
event of a significant downturn in income or
change in our financial circumstances.
The maximum level for the target range is set
as twice the minimum level.
At 31 March 2025 the Charity held £4.7m in
general funds. These are used to cover
operational costs, to invest in fundraising to
grow future income, and also to fund
charitable expenditure. This figure is towards
the top end of the target range of £2.4 - £4.8m
calculated under the current policy. Thls was
partly due to a large legacy received within
the year, and partly the result of a decision
taken In the 2024125 budget preparation to
take more of our charitable expenditure from
designated funds whilst we regrow the
balance of our general and hospital level
funds. In 2025126 we will be revising our
reserves polity, including movin8 to a more
vseful risk-based approach for calculating the
required level of reserves.
The Charity holds a number of general funds
and hospital level funds related to our
broader charitable purposes. Where the
balances on these funds exceed our target
reserves, they are used to fund our
expenditure on charitable activities, in line
with the Charity's budget and strategv.
In common with other hospital charities,
significant proportion of our income is
donated with a wish to support a specific
ward or clinical specialism within our
h05Pltals. Our policy is to transfer these
donations into designated funds, to ensure
that they are used as far as POS5ible in
accordance with the donorfs wishes.
Staff remuneration
Staff remuneration is determined under the
Charity's pay and rewards policy overseen by
the Remuneration Committee.
In line with Charity Commission guidance. no
reserves policy is established for these
designated fund5, but we work proattively
with our Fund Advisors to ensure that
donations
are
spent
reasonable
timeframe.
New staff are recruited externally with
reference to prevailing market rates.
We do thi5 by setting an overall charity budget
taking account of tund balances and regularly
reviewing the use of dormant/slow moving
unds.
io

OXFORD HOSPITALS CHARITY REPORT AND ACCOUNTS12024-25
Fundraising review
The Charity has a team of professional
lundrai5ing staff. Activities include hospital-
based
fundraising,
community-based
fundraising, direct marketing with existing
supporters, and the development of long-
term
relationships
with
individuals.
companies, fundraising groups and grant-
making bodies.
projects. driving numerous innovations and
improvements in the are3S that make a real
and lasting difference to the communities
they call home.
We also understand that some of these
individuals may be vulnerable, going through
difficult and emotional times or in some cases
are recently bereaved. We work closely and
carefully with our charity supporter5 to
ensure we get the balance right- encouraging
and thanking them for their donatlons and
fundraising without being intrusive or
exerting any pressure on them.
In our interactlons and communications with
supporters. we seek to update them about
the impact their donations have made as well
as letting people know about upcoming
fundraising activities. We keep in touch with
our donors through a range of channels, from
traditional methods like mail and telephone
to digital platforms such as email, soclal
media, and our website. We also share
updates and stories through our twice-yearly
charity magazine, regular impact reports and
online at www.hospitalcharity.to.uk.
We have not undertaken any cold-callin8 or
door-to-door fundraising.
The Charity is re8lStered wlth the Fundrai5in8
Regulator and follows its Code of Fundraising
Practice. This is in addition to our wider
governance responsibilities, including those
around data protection under the General
Data Protection Regulation IGDPRI.
This past year, the team has embraced new
technologies to improve the way we
communicate with
our
donors. Digital
platforms such as Dataro and DotDigital have
helped streamline how our donors experience
our charity message5, moving towards much
more personalised interactions.
We encourage feedback from our supporters,
sharing any learnings amongst the Charity
team and. where appropriate, Trustees. We
responded quickly. honestly and respectfully
to any negative feedback received. We did
not receive any tomplaints during the year.
We want every sUPPOrter to know how their
kindness is making a difference to their local
hospltals, and these new platforms will help
us stay connected, share impact more
meaningfully, and build even stronger
relationships moving forward.
The continuing support of our donors is
invaluable to us.
Many of our donors and supporters have
firsthand experience of care within our
hospltals. Thanks to their generosity. we can
channel these
donations
into inspiring
li

2024-20251 OXFORD HOSPITALS CHAR1TY REPORT AND ACCOUNTS
Risk management
We maintain a risk register which sets out the
principal risks that could affect the Charity
and the fulf ilment of its objective5.
income and expenditure, we are not at the
point of having to implement any severe cost-
cutting measures.
Risks are assessed regularly by the Charity's
Senior Management Team for severity and
likelihood, with mitigating èctions identified
to rninimise their likelihood and impact. These
rlsks and progress on these actions are
reviewed regularly by the Trustees at each
Audit Committee and at every other full Board
meetings.
The Charity's senior management team
monitors income and expenditure on an
ongoing basis, and conducts a rigorous half
year financial review. including the estimated
end of year position. This is presented to
Trustees and allows us to understand if any
changes to expenditure
up or down
are
required in the final quarter of the financial
vear.
As a result of these regular reviews, the
Trustees are confident that the control
systems identified in this exercise are
embedded in the management and culture of
the Charity. and that managers and staff are
aware of their responsibility for internal
control.
Through the year our risk register reflected
both the actual and potentlal impact of the
economic
environment In
relation
to
fundraising and investment income, and the
resulting risk to our ability to provide
widespread support acros5 the h05Pltals.
As for most charities, the Trustees. risk
assessment identifies a number of areas
where there could be slgnificant fisk (based
on the likelihood of the risk occurring andlor
the magnitude of its Potential effect).
However, for the majority of these risks there
are sufficient controls in place to ensure the
residual risk is minimised.
In addition to the national economic
circumstances, this year there has been a
delay to some expected income, including a
£3m legacy which is now subject to a legal
challenge.
As a result, the need to ensure long-term
financial sustainability land specifically the
need to cover operational costs) was added to
the risk re81Ster.
During the 2024125 financial year the
Charity's risk register identified the following
as areas with highest overall risk, after takin8
account of the control
measures and
mitigation currently in place.
Over the shorter term, we retain 3 Sultable
level of reserves and are a financially well
managed and efficient charity, so this is seen
as a risk. but a manageable one.
Ensuring long-term financial
sustainability
In mitigation, we have the normal fundraising
plans and targets as part of the annual budget
for 2025126. This included a post dedicated to
legacy marketing- a very important source of
income over the medium to longer term.
Like many other charities our income has
been impacted by the continuing economic
uncertaintie5 which have affected fundraisin8
and other income streams. However. due to
careful plannin8 and close monitoring of
12

OXFORD HOsP￿AL5 CHARITY REPORT AND ACCOUNTS12024-25
During 2024125 we also began planning and
implementing specific activities to address
the issue of financial sustainability. This
included-
construction phase, the development of this
campaign has been on hold during the year.
Mitigation measures, prior to committing to a
fundraising campaign. will include conducting
a feasibility study to a full project plan,.
working closely with the key staff at the
clinical and executive level to develop an
inspiring case for support. seeking a signed
agreement with the Trust coverir)g the main
areas of risk- and not launchlng a fundraising
campaign until a business case has been
approved by the OUH board.
Developing a long-term programme to
invest in fundraising.
The adoption of a three-year rolling
budget to give a longer term view of
f inances and cashf low.
Charitable
expenditure
plans which
focussed
more
on
spending from
designated and restricted funds than from
our general and hospital fund5.
The Investment Committee continues to
regularly review our investment strategy to
ensure it is appropriate for the circumstances.
Changing requirements of the
Trust
With the more rigorous financial constraints
within the NHS the requirements and
priorities of the Trust can change quickly. As a
£1.5 billion pa organisation they also have a
higher level of materiality compared to the
Charity when considering risk. Thls means a
change of fotus can have a serious impact on
the Charity, especially when we are
considering
committin8
to
long-term
projects.
Risk of a failed appeal
During the year we continued discussions
with the OU H Trust on developing a p055ible
large
capital fundraising
and fundin8
campaign. While these large projects bring
Sl8nificant benefit to our hospitals and
patlents, they carry inherently greater risk..
A charity of our size being able to raise a
very large sum over a limited period of
time.
For larger projects the Charity/Trust Liaison
Committee continues to prove useful for
coordination and planning of priority areas for
Charity funding. The Charity also attends a
number of Trust committees and working
groups.
Bein8 able to continue broad charitable
expenditure at a significant level v5 raisin8
these specific funds.
The cost of scaling up the fundraising team
by the required amount and being able to
recrLJit suff icient staff.
For large projects the Charity has adopted an
approach of only committing to fundraising
and funding once an outline business case has
been agreed by the Trust Board.
Due to the Trust's need to focus on the initial
13

2024-20251 OXFORD HOSPITAL5 CHARITY REPORT AND ACCOUNT5
Plans for the future
As the official Charity 5UPPOrting the Oxford
University Hospitals NHS Foundation Trust, it
is important that the Charity continues to
align with the Trust's strategic priorities
wherever possible.
Each strategic objective has a number of goals
to be achieved over the following five years,
and during 2024125 a comprehensive review
of these goals was undertaken by the
leadership team to ensure progress and
continued relevance.
We take a proactive approèch to this, liaising
and engaging at all levels of the Trust
with
the executive management, divisional and
directorate
management.
and
across
different clinlcal services and wards. This 15
allied to a grant process which seeks to attract
and assist applicants, whilst remaining robust
In their evaluation.
The followlng goals are hlghli8hted..
The development of an in-hospital lottery
which was launched in April 2025 and is on
course to generate significant levels of
unrestricted income over the coming
years.
The development and delivery of a long-
term programme of signifitant investment
in fundraising. This will be included in the
2026127 budget.
A programme to consolidate the large
number of designated funds into a
smaller. more manageable number that
will make spending easier and more
flexible,. support our fundraising activities,.
and ultimately allow us to spend down our
fund balance on charitable activities.
We make things happen that can't be
achieved with NHS funding alone. Our USP is
that we are here to support every type of
clinical and support service at all levels across
the hDSPltals. In doing so we are directlv
responsible for elevatin8 the level of patient
care across the Trust.
Our six strategic oblectlve5 are:
To increase income for deliverable needs
and inspSre lasting donor support for
Oxford Hospitals Charity.
Continue to increase the visibility of our
Charity within the four hospitals ensuring
all funded projects include the Charity
brand, the introduction of
new
'Recognition Wall, to celebrate donors,
and further branded vinyl installations.
We will expand our hospital-based team
and activity to the Churchill hospital,
further raising the visibility of our
organisation and increasing ovr abi lity to
provide practical hands-on support for
patients and staff.
We will also increase the visibility and
recognition of the support we receive
from our donors and legators across the
hospitals.
To be a Charity with a stron8. visible
presence in each hospital.
To ensure we have motivated and value
adding staff with a 'one team, approach
across the Charity.
To build on the partnerships with our NHS
Trust and key stakeholders to plan and
deliver
support effectively In
our
hospitals.
To ensure we are financially resilient in
uncertain economic times.
To spend and do more to significantly
increase the level of support we provide
to patients and staff across our hospitals.
14

OXFORD HOSPITALS CHARITY REPORT AND ACCOUNTS12024-25
Statement of Trustees, responsibilities
The Trustees (who are also the directors for
the purposes of company lawl are
responsible for preparing the Report of the
Trustees and the financial statements in
accordance with applicable law and United
Kingdom Accounting Standards (United
Kingdom Generally Accepted Accounting
Practice).
The Trustees are responsible for keeping
proper accounting records which disclose
with reasonable accuracy at any time the
financial position of the charitable company
and to enable them to ensure that the
financial statements comply with the
Companies Act 2006.
Company law requires the Trustees to
prepare financial statements for each
fSnancial period that give a true and falr view
of the state of affairs of the charitable
company and of the incoming resources and
application of resources, including the
income and expenditure, of the charitable
company for that period. In prepar ing those
flnancial statement5, the Trustees are
requlred to..
They are also responsible for safeguarding
the assets of the charitable company and
hence for taking reasonable Steps for the
prevention and detection of fraud and other
irregularities.
In so far as the Trustees are aware..
there is no relevant audlt Information of
which the charitable company's auditor is
unaware- and
select suitable accountlng pollcies and
then apply them consistentlv,.
comply with applicable accounting
standards, includrng FRS 102, subject to
any material departvres disclosed and
explained in the financial statements-
state whether a Statement of
Recommended Practice ISORPI applies
and has been followed. subject to any
material departures which are explained
in the f inancial statements-
the Trustees have taken all the steps that
they ou8ht to have taken to make
themselves aware of any relevant audit
information and to establish that the
auditor is aware of that information.
This report has been prepared in accordance
with the special provisions relating to small
companies within Part 15 of the Companies
Act 2006.
This report was approved by the Trustees on
29 September 2025 and signed on behalf of
the Trustees by:
make judgements and estimates that are
reasonable and prudent;
prepare the financial statements on a
going concern basis unless it is
inappropriate to presume that the
charitable company will continue in
business.
Professor David Matthews
Chair of Trustees
15

2024-20251 OXFORD HOSPITALS CHARITY REPORT ANO ACCOUNTS
Independent auditor's report to the
members and Trustees of Oxford
Hospitals Charity
Opinion
We have audited the financial statements of Oxford H05Pltals Charity Ithe'company'l for the year ended
31 March 2025 which comprise the Group Statement of Financial Activities. the Group and Parent
Charitable Company Balance Sheets. the Group Cash Flow Statement 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 AccountinB Standards, including FRS 102
'The Financial Reporting Standard Applicable in the UK and Republic of Ireland, Iunited Kingdom Generally
Accepted Accounting Prarticel.
In our opinion the financial statements=
Bive a true and fair view of the state of the group's and the parent chafitable company's affairs as at
31 March 2025 and of the group's incoming resources and application of resources. includin8 Its
income and expenditure, for the year then ended-
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 and the
Charlties Act 2011.
Basls for oplnlon
We conducted our audit In accordance with International Standards on Auditing IUKI IISASIUKII and
applicable law. Our responsibilities under those standards are further described in the Auditor's
Responsibilities for the audit ol the financial statements section of our report. We are independent of the
charitable company in accordance with the ethical requirements that are relevant to our audit of the
financial statement5 in the UK. including the FRC'S Ethical Standard. and we have fulfilled our other ethical
responsibilities in accordance with these requrrements. We belreve that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going ¢on¢ern
In auditing the financial statement5, we have concluded that the trustee5' use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed. we have not identified any material uncertainties relating to events
or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability
to continue as a going concern for a period of at least twelve month5 from when the financial statements
are authorised for issue.
16

OXFORD HOSPITALS CHARITY REPORT AND ACCOUNTS12024-25
Independent auditor's report (continued)
Our responsibiif(ies and the respon5ibiltties of the trustees with respect to going concern are described in
the relevant sections of this report.
Other information
The other information comprises the information included in the annual report, other than the linancial
statements and our auditor's report thereon. The trustees are responsible for the other information. Our
opinion on the financial statements does not cover the other information and, except to the extent
otherwise explicitly stated in our report, we do not express 3ny form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibilitv 15 to read the other information
and. in doing so. considèr whether the other information is materially inconsistent with the financial
statement5 or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we
identify such material inconsistencies OT apparent material misstatements, we are required to determine
whetherthere is a material misstatement in the financial statements or a material misstatement of the other
information. If, based on the work we have performed. we conclude that there is a material misstatement
of this other information. we are fequired to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companles Art 2006
In our opinion, based on the work undertaken in the course of the audit..
the infofmation given in the trustees. annual report for the financial year for which the financial
statements are prepared is consistent with the financial statements,. and
the trustees, annual report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light ol the knowledge and understanding of the group and parent charitable company and its
environment obtained in the course of the audit. we have not identified material mi5Statements in the
trustees, annual report.
We have nothing to report in respect of the following matters where the Comp?nie5 Act 2006 and the
Charitie5 Act 2011 require us to report to you if, in our opinion:
the parent charitable company has not kept adequate and sufficient accounting records, or returns
adequate for our audit have not been received from branche5 not visited by us; or
the parent charitable CoMpan￿S financial statements are not In ag￿ement with the accounting
records and returns- or
certain disc105ure5 of trustees, remuneration specified by law are not made,. or
we have not received all the information and explanations we require for our auilit- or
17

2024-20251 OXFORD HOSPITALS CHARITY REPORT AND ACCOUNTS
Independent auditor's report (continued)
the trustee5 were not entitled to prepare the financial statements in accordance with the small
companies regime and take advantage of the small companies exemption in preparing the
Trustees, Annual Report and from preparing a 5trategi£ report.
Responsibilities of trustees
As explained more fvlly in the trustees, responsibilities statement set out on page 14, the trustees (who
are also the directors of the charitable company for the purposes of company lawl are responsible for the
preparation of the frnancial statements and for being satisfied that they give a true and fair view, antl for
such internal control as the tiustees 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 financi315tatements, the trustees are responsible for assessing the group and parent
charitable company's ability to corbtinue as a going concern. disclosing. as applicable, matters related to
going concern and usin8 the going concem basis of accountin8 unless the trustees eithei intend to
liquidate the group or parent charf(able company or to cease operations. or have no realistic alternative
but to do so.
Auditor's responslbllltles for the audlt of the financial statements
We have been appointed as auditor under the Companies Act 2006 and section 151 of the Charities Act
2011 and report in accordance with those Acts.
Our objettives are to obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement, whether due to fraud or error, and to issue an auditor's report that
includes our opinion. Reasonable assurance is a hiBh level of assurance, but is not a guarantee that an
audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if. individually or in aggregate,
they could reasonably be expected to inflvence the economic decision5 of users taken on the basis of these
financial statements.
As part of an avdit in accordance with ISAS IUKI we exercise professional judgement and maintain
professional scepticism throughout the audit. We also-
Identify and assess the risks of material misstatement of the financial statements, whether due to
fraud or error, design and perform aLbdit procedures responsive to those risks. and obtain audit
evidente that is suffÉcient and approprtate to provide a basis for our opinion. The risk of not
detecting a material misstatement resulting from fraud is higher than for one resulting from error,
a5 fraud may involve collusion. forgery. intentional omissions, misrepresentations, or the override
of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the Purposes of expressing an
op4nion on the effectiveness of the group and parent charitable company'5 Illternal control.
18

OXFORD HOSPITAL5 CHARITY REPORT AND ACCOUNTS12024-25
Independent auditor's report (continued)
Evaluate the appropriateness of accounting polities used and the reasonableness of accounting
estimates and related disc105ure5 made by the trustees.
Conclude on the appropriateness of the trustees. use of the going concern basis of accounting and,
based on the audit evidence obtained. whether a material uncertainty exists related to events or
conditions that may cast significant doubt on the group and parent charitable company's ability to
continue as a going concern. If we conclude that 3 material uncertainty exists, we are required to
draw attention in our auditorfs report to the related disclosures in the financial statements or, if
such disclosures are inadequate. to modify our opinion. Our conclusions are based on the audit
evidence obtained up to the date of our auditorfs report. However. future events or conditions may
Cause the group or parent charitable company to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the financial statements, includin8 the
disclosures. and whether the financial statements represent the underlying transactions and events
in a manner that achieves fair presentation.
Obtain sufficient appropriate audit evidet)ce re8arding the financial infomiation of the entities or
business activities within the grovp to express an opinion on the consolidated financial statement5.
We are responsible for the direction. supeNision and performance of the group audit. We remain
solely responsible for ovr audit report.
We communicate with those charged with governance regarding, among Other matters, the planned scope
and timing of the audit and significant audit findings. including any significant deficiencies in internal
control that we identify during our audit.
Explanatlon as to what extent the audit was consldered capable of detertln8 Irregularltles, Including
fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design
procedure5 in line with our responsibilities, outlined above. to detect material mi5Statements in respect of
irregularities, including fraud. The extent to wh5ch our protedures are capable of detecting irregularities,
including fraud is detailed below.
The objettives of our audit in respect of fraud, are,. to identify and assess the risks of material
misstatement of the financial statements due to fraud,. to obtain sufficient appropriate audit evidence
regarding the assessed risks of material mi55tatement due to fraud, through designing and implementing
appropriate responses to those assessed risks,. and to respond appropriately to instances of fraud or
Suspected fraud identified during the audit. However. the primary responsibility for the prevention and
detertion of fraud rests with both management and those charged with governance of the charitable
company.
19

2024-20251 OXFORO HOSPITALS CHARITY REPORT AND ACCOUNTS
Independent auditor's report (continued)
Our approach was as follows..
We obtained an understanding of the legal and regulatory requirement5 applicable to the
charitable company and considered that the m05t significant are the Companies Act 2006. the
Charities Act 2011. the Charity SORP. and UK financial reporting standards as issued by the Financial
Reporting Council.
We obtained an understanding of how the charitable company complie5 Wlth these requirements
by discussions with management and those charged with governance.
We assessed the risk of material misstalement of the financial statements. includin8 the risk of
material misstatement due to fraud and how it mi8ht occur, by holding discussions with
management and those charged with 8overnance.
We inquired of management and those charged with governance as to any known instances of non-
compliance or suspected non.compliance with laws and regulations.
Based on this vndeistanding, we designed specific appropriate audit procedures to identify
instances of non-compliance with laws and regulations. This included making enquiries of
management and those charged with governance and obtaining additional corroborative evidence
as reguired.
There are inherent limitations in the audit procedures described above. We are less likely to become aware
of instances of non-compliance with law5 and re8ulation5 that are not closely ielated to events and
transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement
due to a fraud is higher than the risk of not detecting one resulting in error, as fraud may involve deliberate
concealment, for example forgery or intentional misrepresentations, or through collusion.
Use of our report
This report is made solely to the charitable companrfs members, as a body, in accordance with Chapter 3
of Part 16 of the Companie5 Act 2C(J6 and. respect of the consolidated financial statements, to the
charity's trustees, as a body, in 3ccoriJance with Chapter 3 of Part 8 of the Charities Act 2011. Our audit
work has been undertaken so that we mi8ht state to the charitable company's members and trustees
those matters which we are requireLI to state to them in an auditorfs report and for no other purpose. To
the fullest extent permitted by law. we do not accept or assume responsibility to any party other than the
charitable eompany, the charitable company's members, as a body. and the charity's trustees, as a bodv,
for our audit work, for this report, or for the opinion we have formed.
Adam Fullerton1Senior Statutory Auditor)
for and on behalf of Moore Kingston Smith LLP. Statutory Auditor
6, Floor
9 Appold Street
London
EC2A 2AP
Date:
Moore Kingston Smith LLP is eligible to art as auditor in terms of Section 1212 of the Companie5 Act 2006.
20

OXFORD HOSPITALS CHARITY REPORT AND ACCOUNTS12024-25
Financial Statements 2024125
-on5clidated Ststement of rinancial Actsvitie5
lin,cluding wOP.s01idated ir,conie and exFendrture statement)
for the year ended 31 March 2025
JI MaT 2025
To￿1
lund•
UVfesmtte-
RegJtte#
l*come Frorn..
Epn¢tl¢llg aff# Ltgècts
Ccp.ai¢ia
1.25<
1.405
J.1T4
1.405
cc
C￿.Jrrti￿*
e8
447
Totol Income
5.255
1.149
6.505
6.490
Expenditure on..
qais￿4 Fun
A2$1
16
625
740
sub lOt•l.' tip•ndiiur8 on raliinq tund•
cnarrtatle ac1￿4￿*
{1.1241
110191
15231
14S7'.
1788..
Regeatc
112041
341
ij
Sub ioial.. expenditure on charitable eipÈndrtur¢
14 £2¢
1SX5'.
Net incom•,'i•xpendilurel Wore gain•.'110*8esl & tranil•r•
696
1,1?5
IP p 1￿>?¢9 cn re. 04Jaitcn ap.tt ov4¢csai cf *ie*tff¢ni assti*
tev
2e2
Nti Incorne I lexpeTrdltvr•l and net mo¥emeth* in fvnd• for the per
956
112
2.539
Reconclliètion of Funds
Fund balanc¢• ur¥ied iorward at 31 March
fS.294
6.704
21.9Y9
20.670
Comparatlve figures for each class of funds are provided in notes 24 and 25 to the accounts.
All income and expenditure relate to continuing operations.
Notes I to 25 form part of these account5.
21

2024-20251 OXFORD HOSPITALS CHARITY REPORT AND ACCOUNTS
Financial Statements 2024125
Consolidated and Chanty Balance Sheet at 31 March 2025
GROUP
CNAWTY
C￿.￿ft-. V
At 31141ar 1025
Total
Fund•
Al )1 Mar ￿2&
Dts..
F￿r￿lS
f¢¢¢
Fixed A*•ei*
14.551
1• 717
13.209
-aroi£lt FDéc aJs*•
7oiai FIx¢d Ay•¢T4
39
Jg
13.N8
turTeni A••ei•
4.1?0
5.231
9.95?
C4S
08
Egt
oe9
s.?Ji
Tothi Curr•n¢ A*$*i•
¢rettrtor5 lotro aue
13.53$)
NIIC￿rrenl A•set•
eQ?£
r2E¥
Totsi A•4•1•1••4 Current Liabilrtit•
21.999
¢e7G
21.944
pt ¥lbt
Total N•1 A&•et•
zi.
Fund* of ine Ch8r*y
A¢•tr.ue" Fun-s
6.704
i¢.e29
lQ.5J7
4.703
evera. fur.#s
Toiai Fund•
As permitted by section 408 of the Companies Act 2006 the parent tharity's gross income and results have
not been included in the ftnancial statements.
The net income / lexpenditurel of the parent charity for the period was £1,171k12024.' £3,314kl.
Comparative figures for each closs of funds are provided in notes 24 and 25 to the accounts.
Notes I to 25 form part of these accounts.
These financial statements have been prepared in accordance with the provisions applicable to the small
companies regime.
The financial statements were by approved by the Trustees on 29 September 2025 and signed on behalf of
the Trustees by..
Professor David Matthews (Chair of the Board of Tru5tee51
Company Ntjmber.. 11052176
22

OXFORD HOSPITALS CHARITY REPORT AND ACCOUNTS12024-25
Financial Statements 2024125
Consolidated Statement of Cash Flo￿￿ for the year ended
31 March 2025
Group
Yeav ended
31 Mwr 2025
Group
YeAr ended
31 Mar 2024
N￿e$
Cash flows lor opera￿n9 •¢UviO•¥
Net C&8h ger*ryied from ¢￿ting acliytie5 ano Ch8nioN*ktithts
20
2830
a*h Flow•lrom Invq*ing Activit1••
$tment Ill¢W8
Purchase ofiwgible Ix•d
Purch•s• ol In*sknonls
Pmceed5 from S*¢ ￿1n￿*1M￿*S
N•1 c••h provfjd•d by In¥•￿n9 aCbvi￿*•
447
369
{4.6301
12.2201
2.069
212
66
crea&e I Id¢¢r•u•l In
21
857
3.042
O￿nIng Ca8h
Cbsir4 Cash bHlan
6.049
5,232
3.047
e.08$
r¥•¥• l (dKmD8•1 In celh
B57
3.042
Th• ch8niy no nèt dèbt lccuthngty pty￿ad.
Notes I to 25 form part of these accounts
23

2024-20251 OXFORD HOSPITAIS CHARITY REPORT AND ACCOUNTS
Financial Statements 2024125
Notes to the financial statements
1. Accounting policies
The principal accounting policies adopted in the
preparation of the financial Statements are set
out below. They have been applied consistentlv
during the current and preceding periods.
The Trustees have assessed whether the use of
the going concern basis is appropriate and have
considered possible events or conditions that
might cast Significant doubt on the ability of the
charity to continue a5 a going concern. The
Trustees have considered a range of income
scenarios to satisfy themselves that the Charitv
remains a going concern.
1.18asis of Pre
aration of the Accounts
These financlal statements are Prepared on
going concern basis. under the historical cost
convention, as rnodified by the revaluation of
investments being measured at fair value
through income and expenditure within the
Statement of Financial Activities.
The Trustees have made rhls assessment for a
period of at least one year from the date of
approval of the financial statement5. In
particular the Trustees have considered the
charity's forecasts and projertions and have
taken account of pressures on donation and
investment income.
The financial Statements have been prepared in
accordance with the Financial Reporting
Standard applicable in the UK and Republic of
Ireland IFRS 1021. The Charity is a public benefit
entity for the purposes of FRS 102 and therefore
the Charity a150 prepared its financial
statements in accordance with the Statement of
Recommended Practice applicable to charities
preparing their accounts in accordance with the
Financial Reportin8 Standard applicable in the
UK and Republic of Ireland (The FRS 102
Charities SORPI, the Charities Act 2011 and the
Companies Act 2006.
After making enquiries the Trustees have
concluded that there are no material
uncertainties an(1 that the charity has adequate
resources to continue in operational existence
for the foreseeable future.
1.2 Incorne
Donations
Income 15 included in full in the Statement of
Financial Activities as soon as the following three
factors can be met:
lil entitlement- arises when a particular
resource is receivable or the charity's right
becomes legalty enforceable,.
ill probable- when it is more likely than not
that the economic benefits associated with the
transaction or gift will fltsw to the charity; and
liiil measurement- when the monetary value of
the incoming resources can be measured with
sufficient reliability.
The financial statements are prepared in
sterling, which 15 the functional currency of the
charity.
Monetary amounts in these financial statements
are rounded to the neared one thousand pounds
throughout. The principal accounting policies
adopted in the preparation of the financial
statements 8re set out below.
Going concern
The financial statements are prepared on 8
going concern basis which assume5 the
charitable grotjp will continue in operational
existence for the foreseeable future.
24

OXFORD HOSPITALS CHARITY REPORT AND ACCOUNTS12024-25
Donations in Kind
Donated good5 are recognised at fair value in
the period in which they are received, where the
value to the Charity can be reliably measured.
All goods received are distributed during the
relevant financial year.
Income from lease premiums are recogrhi5ed
when leases are assigned as the risklreward has
been transferred to the developer. the Charity
no longer hos control over the management and
development of the site. the amounts can be
measured reliably and receipt is probable.
Legacies
Legacies are accounted for as income once the
receipt of the legacy becomes probable. and the
amount receivable tan be estimated with
sufficient accuracy. This will be once there has
been grant of probate, the representative5 of
the estate have established that payment of the
le8acy will be made or property transferred and
once all conditions attached to the legacy have
been fulfilled and the amount receivable can be
estimated with suff icient aceuracy.
Allocation of income to funds
Income is always credited to a fund which will
benefit the area where the donor has expressed
wish for their gift to be used and are classified
as restricted or designated funds. If the donor
has not expressed a wish for the area of use. it is
credited to an Unrestricted General Fund and is
used at the Trustees, discretion in accordance
with the object5 of the charitv.
1.3 Ex
enditure
Grants
Grants are recognised once there is evidence of
entitlement if there are no conditions attached,
receipt 15 probable, and the amount receivable
an be measured reliably.
All expendf(ure is recognised once there is
legal or constructive obligation to make a
payment to a third party, and the resulting
liabilities are recognised at their Settlement
value.
If the grant has conditions attached which must
be fulfilled before the charity has control ol the
resources, the meeting of these conditions is
within the Charity's control, and there is
sufficient evidence that the conditions will be
met, then the grant is retO8nised. However.
where the meeting of the conditions is not
probable or not within the contToI of the
Charity. the grant would not be recognised until
the conditions set have been met.
The Statement of Financial Activities provides an
analysis of expenditure based on the nature of
the activity undertaken.
The expendr(ure undertaken is divided between
three main activbties
lil Costs of raising funds which includes the costs
of gener8tit)8 voluntary income Ifundraising
lill Charitable activities comprisin8 all cost5
incurred In the pursuit of the charity's
objectives, and in line with SORP 2015 IFRS 1021
also includes the support and governance costs
of the charity and
liiil other types of expenditure which do not fall
into category lil OT liil.
If a donor imposes a time period for spending
the grant, and the expenditure is to take place in
a future accounting period, it would be
accounted for as deferred income and
recognised as a liability unlil the accountin8
period in which the charity is allowed to spend
the grant. If the donor has given the condition
that they can recover any unspent part of a
8rant, the liability foi any repayment would be
recogni5ed only when repayment becomes
probable.
Grants payable are payments made to related or
third party NHS bodies and non-NHS bodies
primarily for charitable purposes relating to the
general or any specific purposes of the Oxford
University Hospitals NHS Foundation Trust or to
purposes relating to the Health Service. The
Lease Premiums
25

2024-20251 OXFORD HOSPITALS CHARITY REPORT AND ACCOUNTS
grants are accounted for on an accrua15 basis
where the conditions for their payment have
been met or where the recipient has a
reasonable expectation that they will receive a
grant. Provisions are made where approval has
been given by the Trustees as such approval
represents a firm intention which has been
communicated to the intended recipient.
Legacy funding for general research purposes is
allocated for spending by the Oxfordshire Health
se￿ice5 Research Committee.
Governance costs
Governance costs include the costs of
arrangements which relate to the general
running of the tharity, allowing it to operate and
to generate the information required for public
accountability. Included under thi5 heading are
direct costs such as audit fees. legal fees and
Costs associated with statutory requirement5,
such as the preparation of statutory accounts.
Governance costs are accounted for on an
accruals basis and after any direct allocation to
individual funds where app¥opriate. the balance
is allocated against charitable activitie5 on the
Statement of Financial Activitie5.
Cost of raising funds
The costs of raising funds are the costs
associated with generating income for the
charity. This includes the costs of generating
voluntary income Ifundraisin8 Costsl and the
costs of holding f4Jndraisin8 events. Where
appropriate direct costs of fundraising are
apportioned directly against the individual funds
generated, and other indirect fundraising costs
are funded from 8eneral and unrestricted
investment funds.
Support costs
In undertaking an activity there may be support
costs incurred that whilst nece55ary to deliver an
activity. tlo not themselves produce or
constitute the output of the activity. Support
costs are accounted for on an 3CCTua15 ba515. The
costs are apportioned across each individual
fund within the charity on an average balance
basis, and allocated between governance and
charitable activities on the Statement of
Flnancial Activities.
Charltable activltles
Costs of charitable activities comprise all costs
incurred in the pursuit of the charity's
objectives, as opposed to the costs of raising the
funds to finance these activities.
Expenditure on charitable activities will be for
the benefit of patients, staff. research or
education. The costs include the direct costs of
the charitable activities together with the
SU Pport costs incurred that enable these
activitie5 to be undertaken.
Taxation
As a registered tharity, donated income is
exempt from Income tax under part 10 of the
Income Tax Act 2007 or Section 256 of the
Taxation of the Chargeable Gains Act 1992, to
the extent that surpluses are applied to it5
charitable purposes.
Grants payable to related or other NHS bodies
repre5ent5 contribution5 to the revenue 3nd
capital expenditure of Oxford University
Hospitals NHS Foundation Trust. Grants to third
partles are payments In furtherante of the
charity's objectives for purposes relating to the
Oxford University H05Pltals NHS Foundation
Trust or to the Health Service generally. This
includes expenditure on medical equipment.
research and amenities for patients and staff.
ODL has policy of gifting taxable profits to the
charity each year to the fullest eKtent possible to
maximise to the Charity
Irrecoverable VAT is charged against the
Category of expenditure for which it was
incurreij.
Expenditure on research projects and
equipment is not applied for commercial
activity, and the results of such expendr(ure are
the property of the Trust.
26

OXFORD HOSPITALS CHARITY REPORT AND ACCOUNTS12024-25
Tangible fixed assets costing more than £2DO are
capitalised and under the c05t model are stated
at historical cost less accumulated depreciation
and any accumulated impairment losse5.
Historical cost includes expenditure that IS
directly attributable to bringing the asset to the
location and condition necessary for it to be
capable of operating in the manner intended by
management.
Depreciation is charged so as to allocate the cost
of assets less their residual value over their
estimated useful lives. using the straight-line
method.
Liabilities
Liabilities are recognised at their settlement
value.
1.4 Structure of funds
Where there is a legal restriction on the purpose
to which a fund may be put. the fund is classified
in the accounts as a restricted fund. Other funds
are classified as unrestritted funds. Funds which
are not legally restricted but which the Trustees
have chosen to earmark for set purpose5 and in
line with the donor's wishes are classified as
designated funds.
Depreciation is provided on the following basis..
Fixtures & Fittin85. 20%
Office equipment- 33%
Hospital hubs- 20%
1.5 Polic
to determlne each desi
nated Fund
A de5ign3ted fund will only be opened if the
purpose of the proposed fund falls within the
charity's objerts. and there is no existin8 lund
which would cover the same purpose and area.
It must be established that all income is
eharitable, and the purpose for which it 15 given
le.g. any combination of research, education,
patient or staff welfare).
New 2024125
The assets, residual values, useful lives and
depreciation method5 are reviewed. and
adjusted retrospectively if appropriate, or if
there is an indication of a significant change
since the last reporting date.
Gains and losses on disposals are determined bv
comparing the proceeds with the carryin8
amount and are recognised in the Consolidated
Statement of Financial Artivities.
A further stipulation for a new designated fund
to be opened 15 that it is required to have an
active life of al least 2 years. The major funds
held within these categories are disclosed in
note 14.
Flxed asset Investments
Investments comprise an investment portfolio
with Rothschild & co, fixed term deposits with
Akoni and Lloyds bank.
1.6 Transfers between fun
A Transfer between funds is permissible if
authorised by the appropriate Fund Advisor. it is
proper use ol the funds. and is within the
objects of the funds involved. For example.
fund5 could be transferred from an unrestricted
general fund lo a restricted fund to finance
deficit or provide additional *undin& or between
two unrestricted funds. or to merge one or more
designated funds.
Investments are shown at market value as at the
balance sheet date.
The Statement of Financial Activities includes
the net gains lor losse51 arising on revaluation
and disposals throughout the period.
Investment properties
Two sites were purchased from Oxford
University Hospital NHS Foundation Trust on
29th March 2019 at a cost of £3m. The sites
were subsequently leased to a developer for the
provision of staff accommodation.
1.7 Fixed assets
Tangible fixed assets
27

2024-20251 OXFORD HOSPITALS CHARITY REPORT AND ACCOUNTS
Individual properties are carried at current year
value at the balance sheet date. A full valuation
is obtained from a qualified valuer for each
property every three years and in any year
where it is likely that there has been a material
change In value.
1.8 Poolin
scheme
An official pooling scheme is not required as the
charity can identify the ownership, down to
individu31 fund5, of all its assets.
1.9 Em
ee benefits
Investment gains and105ses
All gains and losses are taken to the Statement
of Financial Activities as they arise.
The costs of short terni employee benefits are
recognised a5 an expense in the period in whieh
the expenditure was incurred.
Realised gains and losses on investments are
calculated as the difference between sales
pioceeds and opening market value lor date of
purchase if later).
The charity operates two pension provisions.. In
the first scheme, the charity P3y5 pen510ll
contributions to staff members, own personal
pension plan5. No further obligation or liabilitv
arises on these payments. In addition the charitv
pays employer's contributions to the NHS
pension fund on behalf of an employee who
remains in the scheme.
Unrealised Bains and losses are calculated as the
difference between market value at the end of
the accounting period and opening market value
lor date of purchase if later).
Realised gains and losses on investment
properties are calculated as the difference
between the latest market valuation and the
opening market valuation lor date of purchase If
later).
As the scheme is a multi.employer scheme it Is
not possible to Klentify the charity's a5set5 and
liabilities in this scheme and so full disclosure is
not POS5ible. All pensions are therefore treated
as defined contribution.
Jolnt ventures
Entities in which the Group holds an interest and
which are jointly controlled by the Group and
one or more other entity are treated as joint
ventures.
i.io o
eratin
Lease
The Charity holds a lease for its offices at Wood
Centre for Innovation, Headington, Oxford. The
lease is charged on a straight line basls to
expenditure.
In the Group financial statements joint ventures
are accounted for usln8 the eqvky method.
1.11 Basis of consolidation
Joint ventures are recognise(l initially in the
balance sheet at cost and subsequently adjusted
to reflect the Group's share of total
comprehensive income and equity of the joint
venture, less any impairment. Losses in excess
of the carrying amount of an investment in a
joint venture are recorded as a provision only
when the Group has incurred legal or
constructive obligations or has made payments
on behalf of the joint venture.
The tonsolidated financial statements of the
charity incorporate the financial statements of
the Charitable Company Oxford Hospitals
Charity Icharity number 11758091 and its fully
owned trading subsidiary. OHC Developments
Limited IODLI.
Intercompany transactions and balance5
between charity companies are eliminated.
Consistent accounting policies have been
adopted across the group.

OXFORD HOSPITALS CHARITY REPORT AND ACCOUMrs12024-25
As permitted by section 408 of the Companies
Act 2006 the parent charity's gross income and
results have not been included in the firkancial
Statements.
million. The cost of the policy in the year ended
31.03.25 was £5.Ik131.03.24'. £4.3k l.
1.13Li
uid Resources
1.12 Related Part Transactions
The Cash Flow Statement includes the net cash
flows from the management of liquid resources,
which takes into account the cash movements
relating to investment income. acquisitions and
disposals, plus any movements in short term
deposit account balances.
The Charity's purpose is to support the work of
Oxford University Hospitals NHS Foundation
Trust (the Trust). This is acheieved primarily via
grants awarded to the Trust, as detailed in note
1.14 Estimation Techni
ues for Accruals
The Charity made revenue and capital payments
totallinÉ £91k12023-24.' £84kl to the Trust.
The payments were made in support of patient
and staff welfare, research, education, and
capital building projects. and included costs of
salaries, training, travel, buildings. equipment
and seNices.
The charity accrues for items of expendrture
which relate to the current period where
invoices have not been processed or received
before the year end. Estimates are made in
some instances where invoices have not been
received based on activity andlor expenditure
for the year to date. Generally accruals are
based on invoices or other appropriate
(locumentation.
Trade creditors include £86k due to the Trust at
31.03.25131.03.24.' £23kl.
The Charity's subsidiary had no transactions with
the Trust during the year.
The Charity may also make estlmates for lega
income accruals where although the receipt of a
particular legacy is probable and the amount is
known with reasonable certainty Isee note 1.21,
there may be a requirement to estimate the full
and final amount receivable by the charity. This
usually involved makin8 a prudent assessment,
with reference to draft estate accolbnts prepared
by the administratorl executor.
The Charity charged no inteiest 12023-24..
£48,124) on a loan to it's trading subsidiary in
the current year.
The balance due to the Charity from the trading
subsidiary at 31.03.25 was £4.6m131.03.24 .
£4.Iml.
1.15 Ke
assum
tions and ud ernents
The trading subsidiary did not distribute any
profits during the year £ under gift aid to the
Charity 12023-24 - £694,498).
The Charity applies judgement when estimating
le8ary accruals. Legacy gifts are assessed on 3
case by case basis as set out above. The Trustees
consider that there are no judgements, apart
from those involving estimation5, made in the
process of applying the Charity's accounting
policie5 which have a significant effect an the
amounts recognised in the statements and
which require disclosure. They also consider that
there were no key assumptions concerning the
future or key sources of estimation uncertaintv
at the reporting date that have a significant risk
o* causing a material adjustment to the carrying
No remuneration was paid to the Trustees from
the Charity during the period. Travel and
subsistence expenses totalling £156 have been
claimed by l Trustee and paid during the year
12023-24 £144 for I trusteel.
A combined insurante policy is held by the
charity which includes trustees, indemnity and
officers liability Ir15urance 35 well as public
liability insurance, providing cover of up to £10
29

2024-20251 OXFORD HOSPITAL5 CHARITY REPOR T AND ACCOUNT5
amount of assets and liabilities within the next
reporting period.
financial instruments and are included in the
balance sheet are as follows..
lil Investments are included in the balance sheet
at market value
lill Cash investments are included at cost plus
accrued interest
liiil Trade and other debtors and creditors are
recognised at their settlement value.
1.16 Financial Instruments
At year end, the Charity holds the following as
part of its investment portfolio-
£-49k131.03.24: £1.116kl in foreign exchange
forward contracts. and £1.211k131.03.24:
£1,323kl in hedge funds.
For the basis of valuation and any assumptions
made, See note 1.7 for fixed asset investments,
note 1.3 lexpenditurel for treditors, and note
1.2 lincomel for debtors.
The rest of the charity's financial assets and
financial liabilities of a kind that qualify as basic
30

DXFDRD HOSPITALS CHARITY REPORT AND ACCOVNTS12024-25
Financial Statements 2024125
Notes to the financial statements
2 Trading Subsidiary results
The charity has a vkndly cthned IradiThJ Subs￿18ry. OHC De￿￿nents Limited IODLI.
ccNnpany number 11904217. wth paid-up sh¥e witl of£1. ODL was i1￿1yprted on
25 March 2019 and is Incowated in the UK.
The Company seNe$ 4$ a ￿￿Cle lor n¢ythrilat4e track'ng actiiity.
A 5urnrnary of Ils trading ￿SuItS and net assets is shcNm bdow.
These results a￿ Included In Ihe grwp cw5d1dats￿.
Profit and Lo88 account
31.3.25
31.3.24
£'ooD
Tumo
Cost ¢1 Sales
Gross profiVllo*l
Administrali￿ expenses
Operatlng profltlllos81
Interest payable
Proflt I Ilossl on ordnary act1vl￿•S b•lor• tsx
32
43
61
70
'minulion in Kelue of in%eslment properties
Taxation
Profil I Iloa&l lor th* fian¢l¥l pertod
10
43
Opening retained èaming8
Proffit Gift Aided 1¢ Oxlord Ho$￿1&5 Charity
Closing retained oarnings
99
873
694
99
Balanca Shèet
31.3.25
31.3.24
£'ooo
Fixed Assets
Oeblors
Cash
Creéilors
Net A￿ts1 Iliabilitiesl
2.345
2.345
2.340
4,656
4.586
Totsl Fund￿ Ideficitl
31

2024-20251 OXFORD HOSPITALS CHARITY REPORT AND ACCOUNTS
Financial Statements 2024125
Notes to the financial statements
3 Income from Donations
5.1 Glfts ITr kln
The ¢h3nly Is exitw* grfeu io 11 drffja¢e ba05DryJ gifts
h05pilal 51aff. patients an¢ knilies. Weh•e ¢rfy wt>wiseO ltre dilErns Ihe qu￿￿ty pice
eoulo be 8Slimaied FOT 2024-25 we ha¥e ￿ ￿0￿￿￿ed gft$ In ki￿ 1202>14 £nilk
3.2 1￿come trom grnntirnc•ivabl•
DeS¢noti￿ of Ihe sourtes 018rry
J1.3.2S
Toi•l
lundl
£'ooo
31.324
Total
fvnds
£wo
Lh¥utnu&t Ruinci•d
d$
ChBniabte Trusti l CWI
Compan￿$
The Nufflda Oxftyd FLn
1.025
1.216
2.73D
95
79
2.B1
4 Income from Charltable Actlvitles
31.3.25
Toial
lund¥
I'ooo
31 J24
UThr•St[￿t+d
R*siTreitd
fun
£oTr)
fundg
£000
£000
com? from Cours•5
Incore fvorn Res•irch
eome from Cfv•niable IiiLkng
68
6B
32

OXFORD HOSPITALS CHARITY REPORT AND ACCOUNTS12024-25
Financial Statements 2024125
Notes to the financial statements
5 Income from other trading activities
31.J.26
Total
fvhd$
£'ooo
31.3.24
Total
nds
Unrestricted
fijnds
Restncted
funds
£'ooo
Sale of fundraising merchandise
6 Costs of Raising Funds
31.3.25
Tot•1
funds
rooo
31.3.24
Total
nds
£Doo
Unrestn¢ied
fiJnd8
Restride
nd5
FundTaising staff costs
Fundraising ekents direct ¢osts
Other ftJndrai5ing c05t5
422
422
543
90
107
149
625
825
740
33

2024-20251 OXFORD PIOSPITALS CHARITY REPORT AND ACCOUNTS
Financial Statements 2024125
Notes to the financial statements
7 Analysis of charitsble expenditure
7.1 Charllable Expendllure
31.3.25
Totsl
funds
31.3.24
Total
Jnd8
UrwEslrKt•d
Re&lricled
Medical Equipment
Paiienls welfèie and aft*rfie8
staff v¢lfare and ameniiies
Research
Educalicn
905
1.468
457
768
337
219
551
1,725
498
753
1.201
345
2.019
523
1,008
341
238
3.935
1.078
4.525
Allnbulatde
Gwt Funded Acl1¥1￿ tjrect
SuFpM and Tr￿￿ 31.03.25
rt8kM GrKmance Costs
Funds
£Yoo
31,324
Medical EquIpm￿l
P8tienis weK8re and aMer￿lI•S
staff K*llarn and amenllies
Reseaich
E￿¢&lion
78
31
179
229
55
3Q5
1,725
498
753
1,204
345
2.018
522
1.007
151
678
51
274
5.012
4,525
Expenditure pror pe￿ mdude5 £3 2m 131.03.Z4 £3.Cknl c4ctymmilmw¢l8 hJ* be￿ 8ccn*
•s gran15 al ￿lod end. Further inknn•tKffi abrwl exFWKItWB vthl*en ty Ihe Cwty w be bund In Ihe
Achie￿mentS and Perknn•nce 5eclH)n rlllus repx.
7.2 Grants
Grdnl fijnded a4tW 1$ Mroed dirEcIty try Ihe tWStees olthe Ch*. ty • Ctynmittee eSt?￿lShe0 by the
InJ51ees, or by ￿n￿mSOr5 Iwho are gerer*ty 51aff rnember5 oloxtrd UrAv5ity Hosplals NHS
Foundation Tru511 acting under delegated aulhrthly on behallollhe Iru$lee$.
All other grant& ID 202<25 and 202￿4 made to *lher Ox*Jrd Uni*r5ity Hospitals Fw*lati
Tru81 or the Unryetsily ofoxtsa in ￿￿h￿arte olthe DbJEc15 oflhe charity.
Some oranis a￿ in oaciice paid thrt¢ity 10 the supk4ier.
Aciiullies Ur￿ertaken di￿llY in¢lvde exi*nthlute incuft&l ￿ fiJnO athislxs. M also Tr*lLK1es
payments 10 metnbÈNs of staff. ha* irtuned c051s w5(￿1￿ Its Ita*f costs
to 3 cttanly . fvnded Irwning ¢fAtt5el. All 5wh p8ymwis m￿1 cc4nth ¥%ilh rhe (￿anty'S ryOCedu￿ %Y
Inclu¢e avlhonsalion triy the fdwnl fvnd ad¥i$er and ￿0¥S1￿ of8wwi8ie drKUmWi￿ e¥derte of
payment (tr examrA¢. re￿p1S
34

OXFORD HOSPITALS CHARITY REPORT AND ACCOUNTS12024-25
Financial Statements 2024125
Notes to the financial statements
8 Analysls of Governance & Support Costs
Th8Janiy Inlr*ly r￿15 dils
Sw rt¢lp8 2 ￿ algr*￿ C4sls
Gu¥ern4nGe & 8uppcrtCo*•
Jl.Jl$
Ttslal
51.J24
T¢iii
Tc4al
* 5uppDrt
Su
¢•*k
t¥
roco
Js
459
2$
447
lty
Totw
878
422
rsupm Gc•lJ
49
1.J11
35

2024-20251 OXFORD HOSPITALS CHARITY REPORT AND ACCOUNTS
Financial Statements 2024125
Notes to the financial statements
staff Costs
The key Management ola chanty aretfnse aLl￿Alty ￿5[￿SI￿lty trrknriry. diiecliw
the ar%iuiie5 of the eniity.
The key mznagernenl y5aDnd ollhE paTenl chwty wp crynwselhE Tw51e45 ar￿ IhE Owef Executi*
AII IIusiee8 41* ofth•i rteety. r4) •nWtye8 pa￿ (*1￿)<2￿4￿?4. Wl. Detail$ ofTnJsle2 exFenseG •Te
di%c105ed In nole 1.12.
Th• lot81 wrloy¢• t*nelts nw•pnent IrtWr4 ￿*1$ ts 20￿2$ £132.D11
1202&24 £125.7211.
S*one$ 8 nc4 I￿9 k¥ym•*s tr*¢ffttrf YW IX24 £24.th81
J1.J.25
e'ooo
31.3.24
rorpj
54laies & wes
SoGiJl secwty cagl•
Pension ¢osis
other emtyw¢e ben¢lts
1.076
105
78
1 21e
1.28)
31.X2S
31.3.24
£g0.OOQ- £100 W)
£60.000- £70.ofpJ
He•dcwnt
J1.3.
31.124
FinwK•
Fwdroisirfj •nd mitholir
P￿￿￿e Igr8ni makir4 &
15.5
27.0
36

OXFORD HOSPITALS CHARITY REPORT AND ACCOUNTS12024-25
Financial Statements 2024125
Notes to the financial statements
Detalls of material transfers between funds
From
P8Rnt5'F¥rilit￿¥- thns
Wwd
10 Analysis of Flxed Asset Investments
10.1 M4rk•tV4lu• 4¢ JI
GIoL¥
Tot41
Jl.3.25
T¢i
UK
IrM•IMWI
Llsl•d
SSJT
j.ouo
2too
1&654
rrdal
Irmilmirrt
L1#tid Irr4Jilffj•MI
&S37
J,•S4
?.soo
407Z
12452
37

2024-20251 OXFORD HOSPITALS CHARITY REPORT AND ACCOUNTS
Financial Statements 2024125
Notes to the financial statements
Flxeo a*4eT ¢n¥e•Tmefii•
Groug
)i.J.Is
I,J45
1.JlS
•h
Short.'4r
DepoM5
rou¢ & ChAr*y
LUt¢4 In'.tstn*nti
31.5.26
fcoo
998
2.:¢0
12.452
00
269
13.209
cost ￿ ?t l.larch ic2*
11,064
Jl.&26
R•*in¥•
Tclil
roJo
Accru¢1
t11
211
225
38

OXFORD H05PITAL5 CHARITY REPORT AND ACCOUNTS12024-25
Financial Statements 2024125
Notes to the financial statements
105 ln￿1￿￿¢ntb￿
I OHC woe è¢*iW LLP&£1 r¥))C•))Inthpyw202ts21
£CVD
£WD
Tc<
AIIAWI
A&*IIoM In y•w* ¢o•i
1.ND
Al 31 Pjwc
£WD
£wo
CLYr•nl •Si••
M7
IJ Bjs
39

2024-20251 OXFORD HOSPITALS CHARITY REPORT AND ACCOUNTS
Financial Statements 2024125
Notes to the financial statements
11 Tanglble Flxed Assets
Qroup 8 Chjrity
Hc•vt
Hkth
To
Cost or voluotlon
Al l A￿4 2024
Athill￿$ In yur at c￿*
18
25
AI 31
40
18
Dopre¢l•iion
Al l A￿4 2024
Ctrorge tr ye8rm 8ssaJ
15
33
13
24
At 31 M*ch 3)25
31
57
N•t book v•lu•
At 31 MarGh 2025
16
39
At 31 Marh 2024
18
38
12 Debtors
Amounm tslllng du• ¥vilhln on• y•8r
Group
Chanty
Totsi
31.125
£000
I3￿P
To
31.3Z4
cooo
Cttaniy
31.J.25
£000
31 3.24
£aao
Trade debto
Int¢r¢¢mp8ny ltyn8
Other debtors
Prepayments
Accrued IncaThe
ijn
12
2.354
47
30
4$
3D
3$
1299
4048
S827
¢1￿je￿ In (>oup t￿￿& ¢J8t4L4S is an ot£i.116.eth) Q024 £1 116 ILhJl ¢JJe In mrKe than cro ye
40

OXFORD HOSPITALS CHARITY REPORT AND ACCOUNTS12024-25
Financial Statements 2024125
Notes to the financial statements
13 Credltors
Atnounts lalllng due vrithin one ye•r
Gtoup
TOMI
31.3.25
fooo
Chthfi
Total
31.3.25
Group
Tol31
31 324
¢000
Ch•DIy
31 324
ooo
Trad• Creditors
281
3.169
281
3.169
43
J3
?56
2967
96
30
titi6
29G7
71
30
Accrua15
TaKalioo and social securrt5'
Other crgdilors
ank ¢b•rdi¥ft
JJ
J46
3.516
3.5J5
4 102
41

2024-20251 OXFORD HOSPITAIS CHARITY REPOAT AND ACCOUNTS
Financial Statements 2024125
Notes to the financial statements
14 Analysls of Funds
Rtstricted Fund•
Maierial
lJn¢•
JI MJT
2025
eoff¢
<000
£cco
0.90 JR rteioa:
OIY CDJrcI4 KQV•V Vn¢ 1*9JC*I
.ema'.ck9) LeGac*%
0.4. OIFOR-. TrknllSPL':
?.5S7
J.016
14Q
650
36?
298
240
20T
187
io?
91
CEifRE EEVELOW.IEif 14UI
362
944
J34
t:¢tt COliC.l?-rbst Su¢¢ert
163
130
97
J 97¢0 IIOC knrtnr¢o v4$a¢y
120
1.249
JTJ
6.704
Totsi
6.53?
1.078
AesiTlCted F¥nd• pnor year
M•itr141 fund•
Va*rce
B4i•n¢•
4¢4
-X(er￿￿￿re
".afislery
£ccE
2024
<¢¢¢
Éc¢¢
2.SST
Rerai
gc
J61
J61
3J4
263
2S7
ar.cer Qesearch
F d¢#rt Ctnire C3rr,Fo$n.O¥fcr: yeartlen 4FFtal
62
237
I.OC Mnnrtis reaimtcrtn *gè¢>
97
I?*èx￿I Re*ea*cD Lesac>
61
24
Jps
3.998
323
6.53
42

OXFORD HOSPITALS CHARITY REPORT AND ACCOUNTS I 2024-25 

## **Financial Statements 2024/25** 

## Notes to the financial statements 

14 Restricted Funds (continued) 

The material funds listed abo1.e will vary from year to year as only the most material funds in the current period are disclosed. Therefore a fund may not be shown ind1�dually each year. 

Details of material restricted funds 

## **Name of fund** 

- A JR Helipad 

- B Renal units 

- C Legacies - Restricted 

- D Oxford Transplant Centre Oe\.-elopment 

- E Cancer Research 

- F Heart Centre/ Heartfelt Appeal 

- G Co�d-19 Trust Support Fund 

- H Future Fertility Trust Fund 

- I NOC Arthritis Fund (Balmforth legacy) Horton Brodey Centre Mr Khan's legacy 

- K Alzheimers Research 

- M OHSRC Research 

- N Cancer Research (Hawes Legacy) 

- 0 Rivemiead Neurological Rehabilitation 

## **Description of the nature and purpose of each fund** 

Grant towards cost of proposed helipad at John Radcliffe Hospital For the benefit of Renal units in Oxford Temporary holding fund for bequests while expenditure plans are finalised To benefit the Oxford Transplant Centre For the benefit of cancer research 

For the benefit of patient and staff of the Oxford Heart Centre For the benefit of patients and staff, in response to the COVI0-19 pandemic To preserve the fertility of young cancer patients For the benefit of arthritis research and treatmen!, set up on receipt of a legacy To enhance the care of patients and carers using The Brodey Centre (Horton Hospital) For the benefit of improving a range of k1ney ser **.** .  kes, set up on receipt of a legacy For the benefit of Alzheimers research, set up on receipt of a legacy Research for the benefit of NHS in Oxfordshire For the benefit of Cancer research, set up on receipt of a legacy To support the Neurological Rehabilitation Services 

43 



2024-2025 I OXFORD HOSPITALS CHARifY REPORT AND ACCOUNTS
Financial Statements 2024125
Notes to the financial statements
14.2
re•trKted Dt*ty2nated
Mai•riai fufflds
8alance
31 Mar
2Q2S
CQn7 Exreryattsrè
t¢¢¢
o¢0
013
sie
963
pRos-_7 r￿lIcEE R=¢=LR"H 4ND DEVLOHJEir
lyG. OMC ￿1.
J81
616
3ei
352
119 UP Mt.
,CEI REtt￿R¢￿ l-EVELopf.IElff
Q-CFKf ClknAf&BLE FVII
201
248
238
C2=.
0005
265
t￿lIbAM i.i¢flt•9¥¢ Ll•ff4141 Funo
1S9
145
13$
126
12$
14)
7E
O C2é1 O.xiOL* TrAiiSPLknir ctkirn
129
TotAI
10.629
).26t
Unre*tri¢t•d Do•han•¢¢¢ FuThd• pri•ry•4r
Al•t¢n•l fumd•
31 Mar
2024
eofm
£ccc
£DOO
4lJ
JJ)
J54
399
56$
)yr-e, ei¢ff4ni• Lt:
Oc"em ￿lateleS cMarKat* F￿￿0
Ji?
394
265
?60
194
197
1$7
ios
192
The str￿￿￿Tal CarO¥tgy
140
Ite.￿15 Orcc¢G> ￿Oncer R¢se¥cn
143
6.799
Totii
3.164
49
10 629
44

OXFORD HOSPITALS CHARITY REPORT AND ACCOUNTS12024-25
Financial Statements 2024125
Notes to the financial statements
1￿2 Unre#rfcted Fund$l¢on*nu¥dl
The rnaten* knnds11sied abtye VAII wy Y￿10Y￿ a5 th the rn051 In ihe cuffent ye•rare ths¢108•J. Tlw2
è may llDt te 5hcphn exh
D•talls of materfal unrn*r6¢f*d de¥gna¢*d fund
Name of
D•xription ollh• nature •nd purpw ole•ch fvnd
To thioren $ 3eN¢e5 thTwghoLrt Oxtyd
ikniiWSIty NHS Trusi
Ternpcryy trequests eX￿rtUre
re hn¥ised
To sur￿ fesewch irito (Yostate ¢•
¢tyYyry Iw to CWC Ltd
To 51wrKAI the th•Icw￿l d Head Neck ￿¢￿tr)Y Seroce#
To SPEalc diabEle5 & rn21abclic ￿5￿Ch yr4KI$
To JLVPM siaff *elthre tesewch in Hoemotdu
To8Uk¥AX 818ff & edLUtIC47 In Haematclagy
TOsW￿ pat￿￿ siaff I￿￿re for Vrf¥d
chi￿rIn¥ Furnj Ftr CFdlth
B L•o•tyes. r)eargnJtsd
Proyi*e Car￿tt Res¢¥ch ATh1
D OHC Dtherownenls Lltt. L￿Tr
Helldj up
Ocdem Dwtete• Ch￿l•ble Fyn
HaernaiDIow
H•em8ioltyy wa￿ wa￿ sei
Renal me01c￿ WArd
Stw¢tud FLn*
K W4liam Mont8gue knls Fw
Concel Care
Ir•nFIg SiTurlth* Cwdic4c
Ir* Emwyenry Uewtrrw4 J CT sca
To staff 4*if4r¢. r•swch ￿ •kn8Tron In C8ncw
Toswm ￿lar￿. lé5￿ch eduGallW in Adun Cnlical CBie
To resfr•F¢h a￿1 educts1t￿ in kidnay &￿&1$ and kidnry •Jnclian
Tosurwi ￿Se•￿h
Témpyary •JTr¥ kn tewesis *hle expethlvre r18n8 •re finollsed
To jurpyi ¥1 ch￿•t4* rdaim9 to the Eye
70 staf ￿ p•tieni$ •t th• W(vNns C•)tra M•0
lo ewiFThenl tr M3ieffliiy Unn sbpp
To su¢¢tii sia*Ware & e￿￿￿tIC
To PalieN ind trth•
To ￿t￿ch Inlo 17ieryenlvx￿1 Cardirlogv
To tw•M swdihe CVh4nYJo* oewm
M Adutt Cam. GEnw* Fml
N Gaslroenlwdow W¥d
P Leycies- Ur￿l￿¢t￿y
Q Oxforf Ey• Hoipt
R Sil￿r Sl
S Cc4oFecld Surp2ry
T G4sirc¢ffl¢Fdogy W¥d
U Iniewnitrwl Cwdl￿lyy
V Alderrnan Uiqmy
45

2024-20251 OXFORD HOSPITALS CHARITY REPORT AND ACCOUNTS
Financial Statements 2024125
Notes to the financial statements
143 Unreaficted Genernl Fun
Balance
31 Mar
)015
eooo
G¥n5
IL058BS}
EOOO
Jth R4dclfft Fwrtl4
ChwclMII Hospi&il Ger*¥
Orthoy*edi¢ Certpè FL¥¥
lonon Goneral Funts
Ltyxy Gvn•ral Fu
Ch*iy GEnwèl Fl￿￿ts
60
141
26
242
J01
11541
30
1B8
2.926
679
$$
1.wo
1261
262
Totsi
2.425
596
262
4.703
LthM*d¢thd Gen•rnl Fuod* pblory••r
Balanco
31 M•r
2024
£wo
£000
EO
Jobn Ftsa¢lile Genwa Fur
Churchill Hospiai Genrt Funds
11051
(421
12a71
Hort￿ Gw¥al Ftyrds
CM Le4acy Genwd Fur
Chwiy Gtn¥•l Fwio$
2J2
(94
242
2,OOD
2.000
2.952
9S7
18$
15 Contlngent assets and Ilabllltl88
TheTe a￿1¥? c¥ bzb•fKJ in ihe cwrwd p￿.
46

OXFORD HOSPITALS CHARITY REPORT AND ACCOiJNTS12024-25
Financial Statements 2024125
Notes to the financial statements
16 Commitments
31.3.25
Tot81 m*e'.
Less than l year
1.5 yaa
S8,272
$4.970
S4 970
17 Income from legacles
Legacy in¢m is *Eounled ly r•c•pt orvthve IÈ Ibe arnount cin be
•511matad Sufflcieni *cuixy. As ai Ire 31 Ma¢h 2025 Ihe cwty W 10 IJ1.Q3 24 32) wwing re&i¢u
9acies. 4 allhese ¥•lif• Intwesl ￿￿￿1￿3131.03 24 $1. ￿l¢l￿e tethi Ir￿1￿1** In ￿ SLgIW•ht of
FInancI￿ A¢iiwlies b8cwse tho CO￿lI1r￿s y&v•i
18 Loans or guarantees
ThE CbMty hBs LYgw4r4eM Ill •SSqts CL￿rA c¢
OOL half f•rihty in FIX¢ Ih• yeai. imDI Dec6*nt4r2024. Ths seCu￿j ty a dthmuTe
In f8%vJi ￿8￿18¥￿ tonk. Tr ￿t￿rESt rJle cwedwu 3 4% 8t#y* b811 Qte.
19 Connected Oryanisations
The Ch￿1¥ ctrrnclqd L¥ywi¥*w fv th￿Il￿e Trx•J 1.12.
20 Nots8 to the cash flow ststement
RIC￿¢￿1•￿0) olnèt IncL¥IW{exF*thur•l lo n¢1
Jl.3.25
Éooo.
£wo
Net I￿per￿￿tl￿e)1lr￿￿ rwthr4 SOFAY.
IG¥inllLoss sale of In¥251merrt fixed a58¢1s
kn*simerf Ihcome
Unc￿se)1 dÈ¢re8se in fft*Slrnwis
Dewecialian
OTr¢re8881I decrease￿ <elJtrrt
kncreasel Idecre8sel in ¢othtLY6
2.539
11471
(3891
18
814
976
(67ZI
Nvt ¢•th pvoyided by lu*d operdllng itll¥lU•&
91
2830
47

2024-20251 OXFORD HOSPITALS CHARITY REPORT AND ACCOU NTS
Financial Statements 2024125
Notes to the financial statements
21 Analysis of changes in net debt
Cuh
Balance
JI M•r
202S
£000
2024
6,OB9
(85
5.232
8.089
5.132
22 Post balance sheet events
h8¥* I￿1￿XId t• d8uiW •s In It* Slatemenl
Fin0W81 Aciiilti•s.
23 Members Ilablllty
¢h•nt•W• ¢tynF•ry Is thtrdt•4 ty 4￿￿••. h•ar4• 1fv￿ ¢W. ¢th71ty4U¥rtty thelit41rty d mernb&7 15 Iimiled.
￿￿e£l lo an wdertaking by eKh mwnbw to c(nlnbJl? to all￿ ctsNp8ny ¢JIWnding UP
8Lth ¥m4unlS as rnlghl bè tewiied rti •K¢eedh1g £1.
48

OXFORD HOSPITALS CHARITY REPORT AND ACCOUNTS12024-25
Financial Statements 2024125
Notes to the financial statements
24 Analysis of net assets
Group
3t.3.25
Total
fvnd5
rooo
UnrEslricled
no8
Reslricled
nds
£Doo
Fixed A55ets
Iniestrnent5
Nel current assets
Non current liabilities
39
15,554
12991
39
15.554
8.406
6,705
Total net a*tat•
15.294
6,705
31.3.24
Totol
fijnds
£'ooo
Ur¥Bstncled
ds
Restncted
nd5
eo
Fixed A5set5
Inw5tments
Nel cuirenl assels
Non current liablil
14.797
14971
14.797
6.035
6,532
Total net 8soel•
14.338
8.532
20 870
Ch•rlty
31.3.Z5
Totsl
funds
£'ooo
Unre$lri¢led
fvnLIs
R•stncted
fvnds
£'ooo
Fixed Asse18
Inleslmenis
Net cufftnl a55et5
Non current lia￿lItieS
39
13.209
1.991
39
13,209
8.696
6.705
Totsl net 8swl•
15.239
6,705
31.3.24
Total
nds
£￿00
Urwe5tricted
fijnds
Restricled
fvnd5
£'OOD
Fixed Assets
In%slrnenls
Net current a55ets
Non current liabilities
12,452
1.751
12,452
8,283
6.532
Total net awts
14.241
6.532
49

2024-20251 OXFORD HOSPITALS CHARITY REPORT AND ACCOUNTS
Financial Statements 2024125
Notes to the financial statements
25 Prlor Year comparatives
Atsrth1¢14
Jl ￿?4
TcLIl
31 MwW23
To1*5
*￿0?
IncDm• Frcm..
1.7Dd
L*J*
o.o•?
SI7
12
z.ml
701•l Incornq
L¥p•nthluii ￿..
Rliliry Fun
Cornffl Iradrng
Subt¢l•l..
¢i¢•
117241
si•ff ￿[￿rI
R••fr•f¢h
1 ejg
N•1 IncDm•l(iAP•nalut•l bvf¢Tr Ow*•)&tr*￿W•
N•t Incom• J lixpeDdlNrel Dnd **A•fwlh•
16>9 ￿411
Pund oawces 4t T &Erd
3998
50

OXFORD HOSPITAL5 CHARITY REPORT AND ACCOUNTS12024-25
51