**REGISTERED CHARITY NUMBER: 1182892** ## Report of the Trustees and Unaudited Financial Statements for the Year Ended 30 November 2022 for Oxhaven Trust Chapman Robinson and Moore Limited 30 Bankside Court Stationfields Kidlington Oxford OX5 1JE Oxhaven Trust Contents of the Financial Statements for the Year Ended 30 November 2022 ||Page| |---|---| |Report of the Trustees|1 to 2| |Independent Examiner's Report|3| |Statement of Financial Activities|4| |Balance Sheet|5| |Cash Flow Statement|6| |Notes to the Cash Flow Statement|7| |Notes to the Financial Statements|8 to 13| |Detailed Statement of Financial Activities|14| Oxhaven Trust for the Year Ended 30 November 2022 ## Report of the Trustees The trustees present their report with the financial statements of the charity for the year ended 30 November 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005. ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** In pursuance of the objectives in its governing document covering the relief of poverty and social inclusion, the charity has continued to provide and support affordable accommodation for those in financial need and refugees and has added to its housing stock available for this purpose through gifts and purchase. The trustees aim to continue to increase the housing stock available for these purposes as the opportunity arises. The trustees have complied with the duty in section 4 of the 2006 Act to have due regard to guidance on public benefit published by the Commission. The charity does not raise funds from the public. ## **FINANCIAL REVIEW** ## **Reserves policy** The charity maintains sufficient reserves to ensure that requisite maintenance of its properties can be undertaken in a timely way and to ensure that it is able to meet interest payments on loans. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The charity is controlled by its governing document, a deed of trust dated 17 March 2020 and constitutes an unincorporated charity. ## **Risk management** The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1182892 ## **Principal address** 105A Lonsdale Road Oxford OX2 7ET ## **Trustees** C Bright Professor S Bright S Bright ## **Independent Examiner** Alan Sowden FCCA CTA Chapman Robinson and Moore Limited 30 Bankside Court Stationfields Kidlington Oxford OX5 1JE Page 1 Oxhaven Trust for the Year Ended 30 November 2022 ## Report of the Trustees Approved by order of the board of trustees on 23 June 2023 and signed on its behalf by: C Bright - Trustee Page 2 Independent Examiner's Report to the Trustees of Oxhaven Trust ## **Independent examiner's report to the trustees of Oxhaven Trust** I report to the charity trustees on my examination of the accounts of Oxhaven Trust (the Trust) for the year ended 30 November 2022. ## **Responsibilities and basis of report** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. ## **Independent examiner's statement** Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Alan Sowden FCCA CTA Chapman Robinson and Moore Limited 30 Bankside Court Stationfields Kidlington Oxford OX5 1JE 23 June 2023 Page 3 Oxhaven Trust ## Statement of Financial Activities ## for the Year Ended 30 November 2022 |Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
Investment income
3
**Total**
**EXPENDITURE ON**
Raising funds
4
**Charitable activities**
5
Charitable donations
Other
**Total**
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|30/11/22
Unrestricted
fund
£
965,483
33,367
998,850
739
74,560
(16,988)
58,311
940,539
813,714
1,754,253|30/11/21
Total
funds
£
395,211
22,407| |---|---|---| |||417,618| |||-
7,406
1,368| |||8,774| |||408,844
404,870| |||813,714| The notes form part of these financial statements Page 4 Oxhaven Trust ## Balance Sheet ## 30 November 2022 |Notes
**FIXED ASSETS**
Investment property
10
**CURRENT ASSETS**
Debtors
11
Cash at bank
**CREDITORS**
Amounts falling due within one year
12
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
13
**NET ASSETS**
**FUNDS**
15
Unrestricted funds
**TOTAL FUNDS**|30/11/22
Unrestricted
fund
£
2,187,956
24,000
12,713
36,713
(47,562)
(10,849)
2,177,107
(422,854)
1,754,253
1,754,253
1,754,253|30/11/21
Total
funds
£
795,000
-
19,332
19,332
(618)
18,714
813,714
-
813,714
813,714
813,714| |---|---|---| The financial statements were approved by the Board of Trustees and authorised for issue on 23 June 2023 and were signed on its behalf by: Trustee The notes form part of these financial statements Page 5 Oxhaven Trust ## Cash Flow Statement ## for the Year Ended 30 November 2022 |Notes
**Cash flows from operating activities**
Cash generated from operations
1
Interest paid
Net cash provided by operating activities
**Cash flows from investing activities**
Purchase of investment property
Interest received
Net cash used in investing activities
**Cash flows from financing activities**
New loans in year
Net cash provided by financing activities
**Change in cash and cash equivalents in the**
**reporting period**
**Cash and cash equivalents at the beginning**
**of the reporting period**
**Cash and cash equivalents at the end of**
**the reporting period**|30/11/22
£
934,324
(10,341)
923,983
(1,392,956)
-
(1,392,956)
462,354
462,354
(6,619)
19,332
12,713|30/11/21
£
408,861
-
408,861
(395,000)
1
(394,999)
-
-
13,862
5,470
19,332| |---|---|---| The notes form part of these financial statements Page 6 Oxhaven Trust ## Notes to the Cash Flow Statement ## for the Year Ended 30 November 2022 ## **1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES** |**Net income for the reporting period (as per the Statement of Financial**
**Activities)**
**Adjustments for:**
Interest received
Interest paid
Increase in debtors
Increase in creditors
**Net cash provided by operations**
**ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)**
At 1/12/21
£
**Net cash**
Cash at bank
19,332
19,332
**Debt**
Debts falling due within 1 year
-
-
**Total**
19,332|30/11/22
£
940,539
-
10,341
(24,000)
7,444
934,324
Cash flow
£
(6,619)
(6,619)
(39,500)
(39,500)
(46,119)|30/11/21
£
408,844
(1)
-
-
18
408,861
At 30/11/22
£
12,713
12,713
(39,500)
(39,500)
(26,787)| |---|---|---| ## **2. ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)** The notes form part of these financial statements Page 7 Oxhaven Trust Notes to the Financial Statements for the Year Ended 30 November 2022 ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entitles (effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. ## **Investment property** Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **2. DONATIONS AND LEGACIES** |**DONATIONS AND LEGACIES**||| |---|---|---| ||30/11/22|30/11/21| ||£|£| |Gifts|965,483|395,211| continued... Page 8 Oxhaven Trust ## Notes to the Financial Statements - continued for the Year Ended 30 November 2022 |**3.**
**INVESTMENT INCOME**
Rents received
Deposit account interest
**4.**
**RAISING FUNDS**
**Raising donations and legacies**
Support costs
**Other trading activities**
Support costs
Aggregate amounts
**5.**
**CHARITABLE ACTIVITIES COSTS**
Charitable donations
**6.**
**GRANTS PAYABLE**
Charitable donations|30/11/22
30/11/21
£
£
33,367
22,406
-
1
33,367
22,407
30/11/22
30/11/21
£
£
(27,204)
-
30/11/22
30/11/21
£
£
27,943
-
739
-
Grant
funding of
activities
Support
Direct
(see note
costs (see
Costs
6)
note 7)
Totals
£
£
£
£
28,603
14,244
31,713
74,560
30/11/22
30/11/21
£
£
14,244
7,406| |---|---| continued... Page 9 Oxhaven Trust ## Notes to the Financial Statements - continued for the Year Ended 30 November 2022 ## **7. SUPPORT COSTS** |Finance
£
Raising donations and legacies
-
Other trading activities
-
Other resources expended
-
Charitable donations
20
20|Governance
Other
costs
Totals
£
£
£
-
(27,204)
(27,204)
-
-
27,943
42
572
(27,329)
618
31,075
31,713
660
4,443
5,123| |---|---| ## **8. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 30 November 2022 nor for the year ended 30 November 2021. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 30 November 2022 nor for the year ended 30 November 2021. ## **9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**|| |---|---| ||Unrestricted| ||fund| ||£| |**INCOME AND ENDOWMENTS FROM**|| |Donations and legacies|395,211| |Investment income|22,407| |**Total**|417,618| |**EXPENDITURE ON**|| |**Charitable activities**|| |Charitable donations|7,406| |Other|1,368| |**Total**|8,774| |**NET INCOME**|408,844| |**RECONCILIATION OF FUNDS**|| |Total funds brought forward|404,870| |**TOTAL FUNDS CARRIED FORWARD**|813,714| continued... Page 10 Oxhaven Trust Notes to the Financial Statements - continued for the Year Ended 30 November 2022 ## **10. INVESTMENT PROPERTY** |**INVESTMENT PROPERTY**|| |---|---| |**FAIR VALUE**
At 1 December 2021
Additions
At 30 November 2022
**NET BOOK VALUE**
At 30 November 2022
At 30 November 2021|£
795,000
1,392,956| ||2,187,956| ||2,187,956| ||795,000| The trustees have not opted to revalue the investment property in the period. The fair value on donation is still deemed to be the current market value. |**11.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Deposit
**12.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
**13.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
Other creditors
**14.**
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Other loans|30/11/22
3
£
24,000
30/11/22
3
£
47,562
30/11/22
3
£
422,854
30/11/22
3
£
39,500|0/11/21
£
-
0/11/21
£
618
0/11/21
£
-| |---|---|---| |||0/11/21
£
-| continued... Page 11 Oxhaven Trust ## Notes to the Financial Statements - continued for the Year Ended 30 November 2022 ## **15. MOVEMENT IN FUNDS** |**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**TOTAL FUNDS**
Comparative net movement in funds, included in the above are as
**Unrestricted funds**
General fund
**TOTAL FUNDS**|At
1/12/21
£
813,714
813,714
Incoming
resources
£
998,850
998,850
At
1/12/20
£
404,870
404,870
follows:
Incoming
resources
£
417,618
417,618|Net
movement
At
in funds
30/11/22
£
£
940,539
1,754,253
940,539
1,754,253
Resources
Movement
expended
in funds
£
£
(58,311)
940,539
(58,311)
940,539
Net
movement
At
in funds
30/11/21
£
£
408,844
813,714
408,844
813,714
Resources
Movement
expended
in funds
£
£
(8,774)
408,844
(8,774)
408,844| |---|---|---| continued... Page 12 Oxhaven Trust Notes to the Financial Statements - continued for the Year Ended 30 November 2022 ## **15. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|Net
At
movement
At
1/12/20
in funds
30/11/22
£
£
£
404,870
1,349,383
1,754,253
404,870
1,349,383
1,754,253| |---|---| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |Incoming
resources
£
**Unrestricted funds**
General fund
1,416,468
**TOTAL FUNDS**
1,416,468|Resources
Movement
expended
in funds
£
£
(67,085)
1,349,383
(67,085)
1,349,383| |---|---| ## **16. RELATED PARTY DISCLOSURES** The trustees gifted property with value of £965,000 and provided a loan of £39,500 to Oxhaven Trust in the year. Page 13 Oxhaven Trust |Detailed Statement of Financial Activities||| |---|---|---| |for the Year Ended 30 November 2022||| ||30/11/22|30/11/21| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Gifts|965,483|395,211| |**Investment income**||| |Rents received|33,367|22,406| |Deposit account interest|-|1| ||33,367|22,407| |**Total incoming resources**|998,850|417,618| |**EXPENDITURE**||| |**Charitable activities**||| |Insurance|588|-| |Repairs and maintenance|28,015|-| |Grants to individuals|14,244|7,406| ||42,847|7,406| |**Other**||| |Bank loan interest|10,341|-| |**Support costs**||| |**Finance**||| |Bank charges|20|-| |**Other**||| |Accountancy|660|618| |**Governance costs**||| |Sundries|500|-| |Other legal and professional|3,943|750| ||4,443|750| |Total resources expended|58,311|8,774| |**Net income**|940,539|408,844| This page does not form part of the statutory financial statements Page 14