## THE OXFORD GOOD STEWARDS TRUST ## Annual Report and Accounts _**For the year ended 31 December 2022**_ **Registered charity: 1193525** ## The Oxford Good Stewards Trust Trustees Annual Report for the year ended 2022 ## **Reference and Administrative Information** The Trustees present the report and accounts of the Oxford Good Stewards Trust (“OGST”) for the year 2022. The accounts have been prepared in accordance with the Charities SORP (FRS102) [ _Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)_ ]. The Trust is a registered charitable incorporated organisation (number **1193525** ) whose principal address is: 7 Colegrove Down, Oxford, OX2 9HT ## **Structure Governance and Management** The aim of the Oxford Good Stewards Trust is to help grow the Kingdom of God by receiving donations and making grants mostly within the Oxford Diocese. The trust was registered as a CIO with the Charity Commission on 15 February 2021. ## **Trustees** John Blackbeard Until 27 January 2022 Michael Byrne (Treasurer) Mike Clark (Secretary) Ralph Hewins Trevor Rayment (Chair) In accordance with the governing document, the minimum number of trustees is four and new trustees are appointed by a majority of existing trustees following recommendations from supporting churches. During 2022, the trustees have met approximately monthly via online meetings. All meetings are minuted and any decisions taken via email are recorded in the minutes. ## **The Object of the Oxford Good Stewards Trust** The object of the CIO is to advance the Christian religion, as this is set forth in the statement of faith, for the benefit of the public residing in the Diocese of Oxford or elsewhere as approved by the Trustees, by supporting, through the making of grants and otherwise, - a. the provision and maintenance of facilities for public worship, - b. the provision of ministers and others for the conduct of public worship, outreach and provision of pastoral care, - c. outreach and evangelisation, and - d. the promotion of the awareness and understanding of the doctrine of the Church of England. The doctrine of the Church of England is for the purposes of this clause 3d to be construed in accordance with the Church of England (Worship and Doctrine) Measure 1974 as originally enacted. The Trust is a public benefit entity. The Trustees confirm that they have given due regard to the public benefit guidance published by the Charity Commission. This guidance requires that the charity has identifiable benefits and that these be of benefit to the public or a section of it. The objectives, activities, achievements and performance are required to be summarised in the annual report. ## The Oxford Good Stewards Trust ## Trustees Annual Report for the year ended 2022 ## **Achievements and Performance** The principal task of the past year has been to begin to make grants in an efficient and transparent manner which gains the support and confidence of those churches that it seeks to support. A small number of donations have been received and grants have been made during 2022. At the same time efforts have continued to communicate the aims and activities of the OGST amongst supporting churches. This has been accomplished by discussions with interested churches, presentations. Towards the end of the year work started on a website for OGST. During the year the policies described elsewhere in the report have been agreed by trustees. The trustees primary aim on all things is to bring glory to God and to advance His Kingdom. None of the progress made this year would have happened without God’s help and we give praise to Him. ## Financial Review In the first year the only operational costs have been the bank charges. Construction of the website by an external supplier has been funded by a donation. Donations have been received to support the work at a small number of churches and grants have been made during the year. Trustees are grateful for the generosity of supporting churches. In view of the minimal financial activity in this year and the income being well below the threshold of £25,000 for which the Charity Commission require an independent examination, the trustees agreed that no independent examination would be carried out. ## Reserves Policy In accordance with best practice, the Trust reserves policy is to hold reserves in the form of net current assets sufficient to cover the equivalent of at least three months of unavoidable operational expenditure. Because grants are only made on receipt of donations and are usually made within a calendar year of the receipt of the grant, the operational costs comprise bank charges and fees for examination of the accounts. ## Principal Risks and Uncertainties The Trustees consider that the principal risk to the work of the Oxford Good Stewards Trust is not financial but a lack of confidence by churches and donors in its work which would mean that the Trust could not meet its objectives. Trustees are investing time and effort to make the operations of the Trust transparent and accountable and are investing time in communications with Churches in the Oxford Diocese. ## Safeguarding Policy OGST has a safeguarding policy and OGST will seek assurances annually from grant receiving bodies that they are actively fulfilling safeguarding legislation as a condition of making or continuing a grant. ## **Declaration** The Trustees approved the Trustees report above on 24[th] April 2023. Signed on behalf of the charity’s Trustees by: Trevor Rayment, Chairman Mike Clark, Secretary The Oxford Good Stewards Trust Trustees Annual Report for the year ended 2022 ## The Oxford Good Stewards Trust ## Statement of Financial Activities for the year ended 31 December 2022 |||Unrestricted|
Restricted
(Parish Share)|
Restricted
(Other)|
**Total 2022**|_Total 2021_| |---|---|---|---|---|---|---| |||||||| ||Notes|£|£|£|**£**|_£_| |**Incoming resources**||||||| |Income from churches||0|0|5,000|**5,000**|_250_| |Income frompersonal donors||1,000||0|**1,000**|_750_| |Tax recovered||0||0|**0**|_0_| |Other income||0||0|**0**|_0_| |Interest on savings/investments||6|||**6**|_0_| |**Total incoming resources**||1,006|0|5,000|**6,006**|_1,000_| |||||||| |**Resources expended**||||||| |Parish Sharepaid to Oxford Diocese|||0||**0**|_0_| |Grants toprojects||0||5,000|**5,000**|_0_| |Bank charges||81|||**81**|_16_| |Governance||0|||**0**|_0_| |Other administrative costs||851|||**851**|_0_| |**Total resources expended**||932|0|5,000|**5,932**|_16_| |||||||| |**Net Incoming resources**||74|0|0|**74**|_984_| |**Transfer between funds**||0|0|0|0|_0_| |**Total funds brought forward**||984|0|0|**984**|_0_| |**Total funds carried forward**||1,058|0|0|**1,058**|_984_| ## The Oxford Good Stewards Trust ## Balance Sheet as at 31 December 2022 |||**2022**|_2021_| |---|---|---|---| ||Notes|**£**|_£_| |**Fixed Assets**|||| |Tangible Assets||**0**|_0_| ||||| |**Current Assets**|||| |Debtors||**0**|_0_| |Cash at bank||**14,898**|_984_| |||**14,898**|_984_| ||||| |**Creditors: due within 1year**||**13,840**|_0_| ||||| |**Net Current(Liabilities)/Assets**||**1,058**|_984_| ||||| |**Total Assets less current liabilities**||**1,058**|_984_| ||||| |**Creditors: due after more than 1year**||**0**|_0_| |**Provisions for liabilities**||**0**|_0_| ||||| |**Net assets**||**1,058**|_984_| ||||| ||||| |**Represented by:**|||| ||||| |Restricted Funds|4,5|**0**|_0_| ||||| |Unrestricted Funds|5|**1,058**|_984_| |(designated andgeneral)|||| |||**1,058**|_984_| ## The Oxford Good Stewards Trust Statement of Cash Flows for the year ended 31 December 2022 |Notes
**Cash flows from operating activities:**
_Net cash provided by (used in) operating_
_activities_
6
**Cash flows from financing activities:**
Repayments of borrowing
Cash inflows from new borrowing
_Net cash provided by (used in) financing_
_activities_
Cash and cash equivalents brought forward
**Cash and cash equivalents carried forward**|Unrestricted Restricted
**Total**
**2022**
_Total_
_2021_
£
£
**£**
_£_
914
13,000
**13,914**
_984_
0
0
**0**
_0_
0
0
**0**
_0_| |---|---| ||0
0
**0**
_0_| ||984
0
**984**
_0_| ||1,898
13,000
**14,898**
_984_| The Oxford Good Stewards Trust Notes to the Accounts for the year ended 31 December 2022 ## **1. Basis of preparation** ## **Basis of accounting** These accounts have been prepared on an accruals basis in accordance with: the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and applicable charity law. ## **Change in basis of accounting and Changes to previous accounts** This is the first year of operation for the Trust and the first annual accounts. ## **2. Accounting Policies** The following policies have been used in the preparation of these accounts: ## **Incoming Resources** All incoming resources are included in the accounts when the Trust is legally entitled to the income and the amount can be quantified with reasonable accuracy. Income is recognised in the period to which it relates. ## **Expenditure** All expenditure is accounted for inclusive of VAT, which cannot be recovered, on an accruals basis and has been classified under headings that aggregate all costs related to the category. ## **Tangible Fixed Assets** ## **Debtors** Debtors are measured at their recoverable amounts. ## **Liabilities** Liabilities are measured at their settlement amount. ## **3. Disclosures** There are no material uncertainties about the Trust’s ability to continue. The Trust is a public benefit entity. ## **Disclosure of Trustees’ remuneration and benefits** In the reporting period none of the Trustees have been paid any remuneration or received any other benefits from an employment with the Trust or a related entity. ## **Disclosure of Trustees’ expenses** In the reporting period no expenses have been incurred by Trustees in fulfilling their duties. ## **Disclosure of related party transactions** There have been no related party transactions in the accounting period ## **Disclosure of audit, independent examination and other financial service fees** No fees have been paid for the examination of these accounts. ## The Oxford Good Stewards Trust Notes to the Accounts for the year ended 31 December 2022 ## **4. Fund Movements** |**Fund**|**Type**||**_Balance_**
**_1st Jan 2022_**|**Transfers**|**Income**|**Expenditure**|**Balance**
**31st Dec**
**2022**| |---|---|---|---|---|---|---|---| |||Notes|_£_|£|£|£|**£**| |Parish Share|Restricted||_0_|0|0|0|**0**| |Project APP|Restricted||_0_|0|0|0|**0**| |Project BAN|Restricted||_0_|0|5,000|5,000|**0**| |Project HYT|Restricted||_0_|0|0|0|**0**| |General|Unrestricted||_984_|0|1,006|932|**1,058**| ||||||||| |**Total **|**Restricted**||**_0_**|**0**|**5,000**|**5,000**|**0**| |**Total **|**Unrestricted**||**_984_**|**0**|**1,006**|**932**|**1,058**| ||||||||| ||**Total**||**_984_**|**0**|**6,006**|**5,932**|**1,058**| ## **5. Analysis of Net Assets between Funds** |Notes
**Restricted Funds**
Parish Share
Project APP
Project BAN
Project HYT
**General Funds**|Tangible
Fixed
Assets
Current
Assets
Current
Liabilities
Loans Due
after 1 year
Total
_£_
£
£
£
**£**
0
0
0
0
**0**
6,000
(6,000)
**0**
5,000
(5,000)
**0**
2,000
(2,000)
**0**
1,898
(840)
0
**1,058**
0
14,898
(13,840)
0
**1,058**| |---|---| ## The Oxford Good Stewards Trust Notes to the Accounts for the year ended 31 December 2022 ## **6. Reconciliation of net income/(expenditure) to net cash flow from operating activities** |**Reconciliation of net income/(expenditure) to**
**net cash flow from operating activities**||Unrestricted|Restricted|**Total 2022**|_Total 2021_| |---|---|---|---|---|---| ||Notes|£|£|**£**|_£_| |**_Net income/(expenditure) for the reporting_**
**_period(asper the Statement of Financial_**||74|0|**74**|_984_| |**Adjustments for:**|||||| |(Increase)/decrease in debtors||0|0|**0**|_0_| |Increase/(decrease)in creditors||840|13,000|**13,840**|_0_| |Transfers between funds||0|0|**0**|_0_| |**_Net cashprovided by (used in) operating_**||**914**|**13,000**|**13,914**|**_984_**| Signed on behalf of the trustees: Trevor Rayment (Chair) Date 24 April 2023 Michael Byrne (Treasurer) Date: 6[th] June 2023