St Cl8mgnt'$ Communlty Property Trust Regist•red Charity No. 1200229 Company No. 13710952 Annual Report and Flnancial Statamonts forthe year ended 30th June 2025 Wenn Townsend Chartered Accounlanls and Slalulory Audllor 30 Sl Giles, Oxford OX13LE
St Clement's Community Property Trust
Index to the Financial Statements for the year ended 30th June 2025
| Page | |
|---|---|
| Annual Report | 4-7 |
| Auditor's Report | 8- 10 |
| Statement of Financial Activities | 11 |
| Balance Sheet | 12 |
| Notes to the Financial Statements | 13-21 |
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St Clament's Community Property Trust Legal and administratlve Informatlon Charity Numb•r 1200229 Trust008 R8vMAHay Mr S J Livingstone Ms H M J Carstairs Ms K Rumford Mr R Knight (resigned 24th July 20241 Rev J Moffett-Levy (appointed 22ncl January 20251 Addrass St Clement's Centre Cross Street Oxford OX4 1DA Audltors Wenn Townsend 30 St Giles, Oxford OX13LE Bankers Barclays Bank plc Leicestèr LE87 2BB Insuran¢0 Brokers Eccleslasllcal Insurance Office IEIG)
St Clgment's Community Propgrty Trust Report of the Trust•e$ for the year •nded 30th June 2025 The Trustees present their report and the audited financial statements of the Charity for the year ended 30th June 2025. The Trustees have adopted the provisions of the Statement of Recommended Practice ISORPI "Accounting and Reporting by Charitses. in preparing the annual report and financial ststemenls of the Charty. The financlal slalements have been prepared in ardance with the accounting policies sel out in notes lo the accounts and wmply with the Charity's govgrning document, the Charities Act 2011 and AccoLtnting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparlng their accounts in accordance with the Financlal Reporting Standard applicable in the UK and Rapublic of Ireland published in Octr>ber 2019. Structuro, Governance and Management New Trustees are appointed by the remaining Trustees. Nominations forTruslees are put forward al Trustees, meetings, when the individual has confimied their willingne5S to serve, then formally proposed. seconded and voted upon al the meeting itself. Inductson and training of new Trustees is informal. malnly covered by and attendance al meetings where policy decisions are taken and mallers of conGern discussed.. and by reference to Charity Commission training and guidance documents. The Rector of St Clement's Church is always an ex officio Trustee. Th8 day to day running of the Cherity is managed by a General Manager but the Trustees consider that they are the Charity's key management personnel and they give of their time freely. The Trtjstees are the only vdunteer5 invofved with the njnning of the Charity. Objectivès and Activities The objects of the Charity as set out in the memorandum and artSdes are to advance the Christian faith in accordance with the principles of the Church of England and in the Parfsh of St Clemenys Church, Oxford and the wider community of Oxford and Oxfordshire, lo further or benefi't the residents ofthe P8rish of Sl Clemenl's by making facilities available for Christian worship and by otherwise providing facilities In the interests of so¢i81 welfare for education, recreation and leisure lime occupation to residents and local organisallons and for the preventi¢Jn or relief of poverty by providing grants, and services to individuals or charities working to prevent or relieve povety- The mission statement of the Charsty is to off&r a visible practical Christian presence in the local community with a vision lo seo 8 Ilourishing, hospitablè local community, attèntive to the least, the lost and lonely. The Charity's values, inspired by the example of Jesus Christ, are to be generous, hospitable. servant-hearted, visible and accessible, and in all things to work lo build community for now and the future. Fundwrai$lng Standards Informatlon The Charity does not carry <t any fund raising activitie8.
St Clgmont's Comn7unlty Proporty Trust R•port of the Trugto0$ for the year ended 30th June 2025 A¢hievemenl$ and Pgrfornianc6 D5Jring the year under review the Charity has continued to work toward8 fuifilment of tts objects in a number of ways: The facillties at the Sl Clemenl's Centre in Cross Street are hired by a number of different charllles and community groups whlth are aligned with the mission and values of tho Charity. These groups provide a diverse range of actr'viti8s, incluijing open communty events, provision of food lo those in need, night shell8r accommodation. English language classes, youth support groups and refugee support groups. These groups include 8 number of churches. induding St Clement'$ Church. The Charity's Sl Clemenl's Centre premises also home to a number of local charrties forming a small office community, comprising Sl Clemenl's Parochlal Chijrch Council (St Clemenl's PCCI, the Oxford Churches Debt Cenlre, KEEN, the Charity of Thomas Dawson and The Archway Foundation (from 1$1 January 20251- The Charity provides accommotlation lo the curate of Sl Clement's Church at the request of St Clement's PCC. and forgoes an element of the Ilcence fee which w¢JJld be payabie in line wth the Charity oblects. organisalion and activities. The Charity also makes a payment to St Clement's PCC'S towards tha salary costs of ils children's and youth work which is in recognition of the work carried out in line with the Charity's objectives. The Charity leases a commerc181 unll at 8 charitable rent lo the Oxford Winter Night Shelter for it to provide a day cèntre for homeless and VL*lnerably housed people. The Charity pays the costs of a General Manager who is rgsponslble for overseeing the operations of the Charity and guiding the Trustees on govemance and strategic decisions. The staff team also includes part-time maintenance staff al the St Clement's Centre and the Old Mission Hall propertles. The Charity's residential lettings are managed by Finders Keepers, the trading name of Countrywide Residential Lettings Limited. Guided by the General Manager the Trustees have continu8d with the ongoing prooramme of maintenance, repair and reftjrblshmenl work on all the Chaiity's propgrties. The Mish basement commursity space continues lo be out of use. The Trustees metfive limes during the period lo receive portS from the General Manager and others as appropriate, to consider matters arising from the day-towday operations of the Charity and lo discuss 51rategic iniualives. Publlc Benefit As well as maintaining its properttes as required by its objects, the Charty uses ils buildings and the rental incomè it raises for a wide range of community activstses. These benefit 811 ages and incomes, from toddlers through to pensioners. The Trustees review thè aims. objectiv8s and actFvities eaoh year. As part of this revlew, referen is made to the gUidar$ contained in the Charity Commission's general guidance on public benefit. The Tnjstees are satisfied that the activities of the Charity fall comlortably within this public benafil test.
St Clgment's Community Propgrty Trnst Report of the Trustges for Ihe year anded 30th June 2025 Financial Revlew ances and Res6Nes Polic The attached financial ststemenls show the current stale of the fmance The Trusteos considgr that the current state of the Charity's finances is sound. The Trustees have detennined that11 should be the general policy ofthe Charity to maintain unrestricted funds, which are the free reserves of th8 Charlty. 8t a 18vo1 which equates at least to approximately thr months running costs. Freg reseTVQS are held in line with the rèserves policy. The Trustees havg also detem)ined lo m2inlain Designated Funds. which is a general propety improvementfund. This kK)licy would provide sufficient funds lo cover the ongoing Maintenan and repair of the property portfolio. togelher with the associated support costs and provides contingerlcy reserves in the event of any unexpected major propety maintenan requirements. During the year, the Trustees transferred £49,844 (2024.. £18,93n towards the Designated Funds. As al 30th June 2025. the balance of the Unrestricl&d General Reserves stood at £80,000 12024.. £60,000) and th6 total Dasignated Funds totslled £5.020,00412024.. £4,338.937). Rlsk Management The Trustees have ex8mined the major strategic, business and operational risks which the Charity faces or may face, and confirm that Insurances and systems are in place to mitigate any such risks. Plans for Future Th8 Chartty continues to increase th8 number and badth of organisalions which use the St Cl&ment's Cerrfre and continue to develop the building as a community hub. During the year, the Charity completed the refurbishment of the WC facilities at the Sl Clemenys Cenlre. It is continuing with ils ongoing plans for general improvernents to the residential porttolio in order to enable strong letting incorne. Statemgnt of Trustees. Ro$ponslbllltles The Tnjslees are rgsponsible for preparing the Trustees, Annual Report and the financial statements in accordan with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi1. The law applicablè lo char(ties in England & WaleslNorthern Ireland requires the Trustees to prepare financial slalernents for each financial yeaf which give a true and fair view of the state of affairs of the Charrty and of the incoming resources and application of resources of the Charity for that period. In preparing Ihese fin8nThal statements. the trustees are required to-. select suitable accour¢ting policigs and then apply them consistently,. observe the methods and principles in the Charities SORP 2019 IFRS 1021.. make judgements and estimatss that are re880nable and prudent- stale whether applicable accounting st8nd8rds have been followed. subject lo any material departures discl(Ised and explained in the financial slalements,. prepare thè financial statements on the going concern basÉs unless it is inappropriate lo presume that the charity will corrtinue in opgration. The Trust&8s are responsible for keeping proper accounting r6¢x)rd$ that discloso with reasonable accuracy al any lime the financial position of tho Charity and enable them to ensure that the financi81 statements comply with the Charities Acl 2011, the Charities (Accounts and Reports) Regulations 2008 and the Articles of Association. They are also r8spon8ible for safeguarding the assets of the Charity and hence for taklng reasonable steps for the preventiorl and detecllon of fraud ar7d olher irregularities.
St Clement's Community Prop•rty Trust Report of the Tfustees fty the year •nd•d 30th June 2025 Statement of Truste•s' Responsibilltles (contlnued) The Trustees are responsible for the maintenance and integrity of the Charity and financial information induded on the charity's website. Legislation in thg United Kingdom governing the preparation and dissemination of financial stal8ments may dtffer from legislation in olherjurisdiclions. On Behall of the Trustees MAHay 22 Octobèr 2025
St Clom•nt's Communlty Property Trust Independent audltors. report to the members of St Clement's Communty Property Twst Opinlon We have audi18d the financial statements of St Clemenl's Community Propety Trust (the '¢harilable ¢ompany'l for the year ended 30th Jijne 2025 whlch comprise the Statement of Financlal Aclivilies, Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has be6n applied in their preparation is applible law and United Klngdom AontIng Standards. including Financial Reporting Standard 102 The Finanual Reporting Stsndard 8pplicable in the UK and Republic of Ireland IUni18d Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair visw of the state of the charitable company's affairs as al 30th June 2025, and of its incoming resources and application of resources. induding its income and expenditure. for th8 year then ended.. have been property prepared in accordance wlth United Klngdom Generally Accepted Accounllng Practice" antj have been Prepargd in accordance with the requir6merts of the Companies Act 2006. Basls for oplnion We Conductèd our audit in acoordance with International SlandarLfs on Auditing {UKI IISAS {UK)l and applicable law. Our responsibilities under those standards are further described in the Audilorfs responsibilities for the audll of the financial statements section of our report. We are independent of the charitable company in accordance wlth the ethical requirements that are relevant lo our audit of the fln8ncial statements in the UK, induding the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we hav8 obtained is sufficient and 8ppropriale lo provid& a basis foi our opinion. Concluslons rnlatlng to gorng concem In aLlting the financial statements, we have coTrclud8d th81 the Iruslees, use of the going concern basis of accounting in the preparation of the financial slalements is appropriat8. Based on the work w8 hava perfomed, we have not idenlifi8d any matgfial uncertainties rèlating lo events or conditions that, individually or collectively, may cast significant doubl on the charitable company's ability lo Continue as a going concern for a period of al least twelve months from when the financial slal&ments are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to golng concern are described in the relevant sections of this report. Other information The trustees are responslble for the other information. The other information comprises the information induded in the trustees, annual report, other than the financial statements and oijr auditorfs report Ihereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly slal6d in o¢Jr report, we do not express any form ol assuranc¢ conclusion Ihereon. In conneclton with our audit of the financial slalem8nts. our responsibility is to read the other infr)miation and, in doing so, consider whether tho other infom)alion is materially inconsistent with the financial ststements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misslalements, we are required to determine whether there is a material misslalèment in the financial slalements or a matgrial misstatement ofthg other infomalion. If. based on the work we have perfomied, we condude that th0 is a material misstalemenl ol this other infomation, we are required to report that fact. We have nothlng to report in this regard.
St Clemgnt's Community Propety Trust Indepèndent audltors. report to thg members of St Clement's Communlty Property Tmst (continued) Matters on which we are required to report by exceptlon In the light of the knowfedge and understanding of the charitable company and its envtronment obtained in the course of the audit, we have not identified msterial misstatements In the directors, report induded within the trustees, report. We have nothing to report in respect of the following mattws in r8lation to which the Companies Act 2006 requires us lo report lo you if. in our opinion.. adequate accounttng records have r been kept, or retums adequateforour autlti hav8 not been rec@Ned frorn branches not visited by us- or the financial statements are not in agreement with the accounting records and retums,. or rtain disclosures of trustees, remuneration specified by law aro not made., or we have not receNe£S all the infomialion and explanations we requir8 for our audit Rosponsibllitles of trustees As explained more fully in the trustees, responsibilities statement set out on page 3, the trustees (who are also the direclols of the charitable company for the purposes of company law) are responsible for the preparation of the financial slalemenls and for being satisfied that they give a true and fair view, and for such internal control gs the trustees dètermine 18 necessary to enab16 the preparation of financial stalgments that arè free from material misstatement, whether due lo fraud or error. In preparing the financial ststements, the trusle&s are responsible for assessing the charitable company's ability to continue as a going concern. disclosing, as applicable. matters related to going concern and using the going concern basis of accounting unless the trustees either intend to Ilquidate the charitable company or lo eease operations, or have no realistic alternative but lo do so. Audltor'5 responslbilities for the audlt of thè flnancial ststements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance wtlh regulations made under sectr'on 154 of that Act Our objectives are to obtsin reasonable assurance about whether the finanaal ststemenls as a whole are free from material misstalernent, whether due to fraud or error, and to Issue an auditorfs report that includes our opinion. Reasonabl& assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will slways delecl a material misstatement when il exists. Misstatements can arise from fraud or error and are Considered material if, individually or in the aggregate, they could reasonably be expected lo influ8nce the economic d8cisions of users tsken on the basis of these financlal statements. A furthor desGrlpiitJn of our responsibllRles lor the audit of the financial statem8nls Is located on th8 Financial Reporting Councll's webstte al- www.frc.org.uklauditorsresponslbllilies. This description forms part of our eudilols rgport. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responslbililies, (¥Jtlined above, lo delect material misststemenls in respect of Irregularities, induding fraud. The speclflc procedures for this engagement and the extent to which thes8 are capable of detecting i¥regularilies, including fraud is detsiled below.. Enquiry of management, those charged wlth govaman around actual and polgntSal I19allOn and daims.. Reviewing minutes of meetings of those charged with govemance- Reviewing financl81 stslemenl disclosures and tssting tr) supporting documentatk)n to a&sess Complian with applicable laws and regulations-, Perfomiing audit work over the risk of management override of controls, induding testing of journal entries and other adjustments for appropriateness. evaluating the business rationale of Significant transactions outside the normal course of business and rewewing accounting estimates for blas.,
st Clgment's Communty Proporty Trust Independent audltors. rnport to thg mombers ol St Clgmont's Community Property Trust (contlnu•d) Auditofs rospon8ibllities for tho audit of tho finan¢lal ststementB IntInu9d) Because of the inherefitlimilalions of an audrt, there is a rtsk that wfj will not detect all irregularthes, induding those leading to a material misstatement In the financial statements or non-compliance with regulatron. This Tisk increases the more that compliance with a law or regulation is removed from the events and transadons reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regardlng irregularities owffing due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion. omission or MisrepSentaII0n. Uso of our report This report is m8de solety to the charflable company's members. a5 a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has b8en undertaken so that we might slate to the charitable company's members those matters we are required to stste to them In an audttor's report and for no other purp¢)se. To the fL*llesl extent peTmitted by law, we do not accept or assume responsibillty lo anyono other than the charitable company and the chaiitable ctsmpanls members as a body. for our audit work, for this report. or for the opinions we have fomied. Benjamin Hayes Bsc FCA Senior Statutory Auditor For and on behalf of Wenn Townsend ststutory Audltor Oxford 22 Octobor 2025 10
St Clement's Communlty Property Trust stem8nt of Flnanclal ActlvStlos {Includlng Income and Expondituro Accoun) For th• year onded 30th Juno 2025 Noto Unrestricted Designated funds funds Totsl Unrestri¢tsd D•signat 2025 funds funds Totsl 2024 Incomlng from.. Investment income Voluntary income 344.631 344,631 316,182 1,984 316,182 Total incoming resources 344,631 344,631 318.166 318.166 Expendllur• on: Ch2ri1able a¢tivitle$ 279,871 892 280,763 306,683 306,683 Totsl resources expended 279,871 892 280,763 306.683 306.683 Net incomirwj resourc*8 64,760 (8921 63,868 11.483 11.483 Revaluation of investments 637.199 637,199 Transfers btheen funds {44.7601 44,760 {18,9371 18,937 Net income I lexpendilure} 20,000 681,067 701,067 17,4541 18,937 11,483 Totsl funds al Isl Juty 60,000 4.338,937 4,398,937 67,454 4,320,000 4.387.454 Totsl funds al 30th June 80,000 5,020.004 5,100,004 60.000 4,338,937 4,398,937 Th• notes on pages 13 to 20 fom an Integral part of these accounts
St Clemont's Communlty Property Trust Balan¢• Sh•o1 as at 30th Jun¢ 2025 Note Unrestricted Deslgnatèd funds funds Totsl Unrestricted Deslgnatsd 2025 funds funds Total 2024 Fixed a$sets Freehold proportles Equipment 4,970,000 4,970,000 4.161 4,161 4,223.250 4,223,250 4,974,161 4,974,161 4.223,250 4,223.250 Current assgt$ Debtors Cash at bank and in hand 3,514 95,813 3,514 141.656 4,438 74.660 45,843 4,438 190,347 115,687 99,327 45,843 145.170 79.098 115,687 194,785 Curr¢nt liabllltle6 Creditors.- Arnounls falling dLfje within one year 119.3271 (19,3271 119,098) 119.098) Ngt currènt assets 80.000 45,843 125,843 6D.000 115.687 175,687 Net assets 80,000 5,020,004 5.100,004 60.000 4.338,937 4,398,937 Represented By: Unrestricted funcls Designated funds 10 10 80,000 80.000 5,020,004 5,020.004 60,000 60,000 4,338.937 4,338,937 80,000 5,020.004 5.100,004 60,000 4.338.937 4,398,937 These accounts wore approved at a meeting of the Trustees held on 22 Odober 2025. MAHay Thè noles on pages 13 to 20 form an Integral part of thèse accounts 12
St Clem•rrt'$ Communlty PrortY Trnst Notes to the Financial Stat•mgnt$ for the year end•d 30th June 2025 Accounting Pollcios 18) Basls of Preparation Sl Clemenl's Communty Propety Trust18 a Company Limited by guarantee in England. In the event of the Charity being wound up, the liability in respect of the guarantee ts limited to £1 per member of the Charity. The address of tha registered office is giv8n in the Charity infomalion on the"Legal and administrative infomation" page of these financial statements. The nature of the Charity's operatlons and principal activtties are outlined in the Trustees Report. The Chaiity conslilutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporbng by Chariti88= Statement of Recommended Practice applicable to charities preparing their accounts in 8ccordan¢e with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland Essued in October 2019 the Financial Reporting Standard applicable in the United Klngdom and Republic of Ireland IFRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted AccounlirwJ Practice. The financial slalemgnts are prepared on a going concern basis underthe htslorical costconventlon. The financial ststemenls are preparod in steding which Is the fvnctional currency of the Charity and rounded to the nearest £. The significant a¢counting pdicies applied in the preparatn of these firianci81 statèments are set out below. These policies have been consistgnlly applied to all years presented unless otherwise slated. bl Actfvitles The financial ststemenls include the results of the Charity's operations as described in th8 Annual Report all of which are continuing. (c) Income rncognFtlon AJI incoming resourc$s ar& induded In the Slalement of Financial Adivilies ISOFAI when the Charity is legally ente to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income wlll be receive(l. Rental income Is recognisot1 on a per diem b8SlS With any rentals in raspeGt of future periods deferred aecordingly (see note 91 Idl Exp9ndlture recognition Expondlture is recognised as soon as there is a legal or constntclfv8 obllgation commlttlng the Charity to the ¢xpenditure. it 13 probdble ihat stituoment wlll be required and the amount of the obligatlon can be measured reliably. All expenditure is accounted for on an accruals basi5. AN expenses induding support costs and gOV8Fnance costs are allocated or apportioned to the appluble expendlture headings. Grants are accounted for when approved by the Trustees. In the current and previous financial period, the majority of grants have taken the form of discounted or forgone n( the value of which is sho% in both rental ineome and costs. 13
St Clam¢nt'3 Communlty Property Trnst Notes to the Financial Statements Icontlnu•d) for the yaar ended 30th Jun• 2025 1.Accountlng PoliGles {contlnuedl le} Support ¢osts allocatlon Support costs are those that assist th8 work of the Charity bul do not directly represent charitable activlties and include Off costs, govemancg Costs, administrativ8 payroll Sts. They are incuired directly in support of expendtture on the objè¢ls ofthe Charty. Al support costs have been allocated lo ¢harllabSe activities in the cuent and previous year. (Q Fund Accounting Unrestricted funds are available for use atthe discretion ofthe Trustees in furtherance of the general objecb'ves of the Charity and which have not been designated for other purposes. Deslgnated funds comprise unrastrscted funds that havg been set aside by the TrLteQS for particular purposes. The aim and use of each designated fund is sat out in th8 notes lo the financial slalements. Restricted funds are funds which are to be used in accordance with specific restrictions imwsed by donors or which have been raised by the Chartty for particular purposes. The cost of raising and administering such funds are charged against Ihe specific fund. The aim and use of each restricted fund is set out in the notes to tho financial stat8ments. Igl Value Added Tax Value added tax is not recoverable by the Charity, and as such is included in the Televant wsts in the Statement of Financlal Activities. Ihl Social Invastment Certain of the properties owned by the Charity a let al below market rent to such bodies as St Clemenl's PCC and the (Thord Wlnler Night Shelter. The Trustees regard this elgment of subsidy as contributing to the social welfare of the greater community of St Clem8nl's. This aspgct of the Charity's work is described in more detail in the Trustees. Annual Report which accompanies the Accounts. lil Tangible Ilxod a$sgts Tangible fixed asse15 are ststed at Cost lor deemed cost} orvaluation less accumulated depreci&tion an(5 accumulated impaimient losses. Cost includes costs dlrectly attributsblè to making the asset capable of opera(Ing as Intenaga. Depreciation is provided on all tsngible fixed assets, at rates ¢alculal8d to write off th8 cost, less estimated resldual value, of each asset on a systematic basis over Ils expected useful Ilfa as follows.. Equipment Straight line over three years ti} Inv8¥trnent propèrty Investment propety is carried at fair value, derived from the current market prices for cornparable real eslale determined by the Trustees with peTI1C assistance from expert valuers as necessary. The valuations are based on observable market pri¢os, adjuste(l if necessary for any difference in the nature. location or condition of the sp6¢ific asset. Changes in fair value are re¢ognls8d in the Statement of Financial A¢liviti88. Ikl Debtors and credltors receivablolpayable wlthln One year Debtors and creditors with no slated interest rate and r8celvable or payable within one year are recorded at transaction price. Any losses arising from impaiment are racognised In expenditure. 14
St Clom•nt's Communlty Propety Trust Notes to the Financlal Statements for the year endod 30th Juno 2025 1.Accountlng Pollcies Icontlnued) 111 Employee bgneflts When employees have rondered seNice lo the Charity, short-lerm employee beneffts to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. The Charity operates a defined contribution plan for the benefit of ils employees. Contiibulions are expensed as th6y become payable. (ml Tax The Charity is an exempl charity wkhln the meaning of schedule 3 of the Charities Act 2011 and is considered lo pass the tests sel out in Paragraph 1 Schedule 6 FinarI Act 2070 and therefore il meets the definition of a charstable company for UK Corporation lax purposes. Inl Going concern The financial statements h8ve been prepared on a gorng concern basls as the Trustses befieve that no material nrtaintieS exist. The Twstees have considered the level offunds held and the expected level of income and expenditure for 12 months from aulhorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the char*ty lo be able to Continue as a going ¢oncem. (o) Judgèm9nts and key $ource$ of estimation uncoriainty The key assurnplions conceming the future and other key sources of estimation uncertainty 8t the reporting dale that have a significant risk of CasIng a material adjustment to the carrying amounts of assets and liabilities within th8 next financial year include.. V81uation of tnvestment properttes - currently based on Trustees assessment of market value eompared to previous formal valuations, Maet indices and rentsl yields. Investmant Income Unrestrlcted Designated funds funds Total Unrestricted Dgslgnated 2025 funds funds Total 2024 Gross rental InGom8 Bank intere51 339,014 5,617 339,014 5,617 314,840 1,342 314.840 1,342 344,631 344,631 316,182 316,182 Voluntary Income Unrestricted Doslgnated fund$ funds Total Unrestrl¢tsd Dgsignated 2025 funds funds Total 2024 Donations Other grants 1,107 877 1.107 8T1 1.984 15
St Cl6mBnfs Communlty Property Trust Notes to the Financial Statemants for the year ended 30th June 2025 Charltablo actlvities Unrèstrlct8d Déslgnated funds funds Total Unrestrlcted Deslgnated 2025 funds funds Total 2024 Rates Insurance Repairs & maintenaneo Light and heat Other property salaries Licences & subscriptions Legal & professional fees Support costs Depreci81ion Grants payable ' 12,529 11.314 86,061 24,835 49.499 654 30,721 14,617 12,529 11,314 86,067 24,835 49.499 654 30,721 14,617 892 49,641 9.187 8,628 116,564 26,136 46,748 1,447 33,267 19.493 9,187 8,628 116,564 26,136 46.748 1,447 33,267 19,493 892 49,641 45,213 45.213 279,871 892 280,763 306,683 306,683 Induded within grants payable are notional grants made in kind totalling £42.632 In the form of discounted rental rates and rent forgone. Governance Costs Unrèstricted Deslgnated funds funds Total Unre5trictod Do$lgnated 2025 funds funds Total 2024 Auditor's fees Accountsncy costs 5,500 7,577 5,SOO 7,577 5.220 13,160 5.220 13,160 13,OT/ 13,077 18,380 18,380 Support Gosts Ba$ls of Apportlonment Cost of Charltable Govemance Activities Costs Total 2025 Tolal 2024 Auditor's fess AcGountancy costs Printing, postage and slalronery Communications Direct Dire Direct Direct 5.500 7,577 5,500 7,577 736 1,404 5.220 13,160 178 935 136 1.404 1,540 13.077 14,617 19,493 16
St Clement's Community Property Trust Notes to the Financial Ststèments for the year ended 30th Juno 2025 Fixod Assats Inve$tm•nt propèrtles 2024 Addltlons Rgvaluatlon 2025 Cross Street Centre 12A Morrell Avenue 57A-57F St Clements Street 1.763,250 510,000 1,950,000 109,551 167,199 140,000 330,000 2,040,CK)o 650,000 2.280,000 4,223,250 109,551 637,199 4,970.000 The propeeS were r8dasstfied as Investment properties in 2019 and were professionally revalued for the purpose of including them in the accounts al their fair value. The properties were revalued during the year and the Ttustees are of the opinion that this revaluaOn is an accurate refiection of thglr valuo. Other propertys plant and •quipmont Equlpment Total Cost At 1 April 2024 Additions Disposals 22,565 22,565 5,053 5,053 {22.5651 122.5651 Al 31 March 2025 5,053 5,053 Deprgclation Al 1 April 2024 Charge for the year Eliminated on Dispos81 22,565 22,565 892 892 {22,565} 122,5651 892 At 31 March 2025 892 Net book values At 31 March 2025 4,161 4,161 At 31 March 2024 Debtors 2025 2024 Other debtors Rental debtors Prepayments 691 3.443 304 3,063 451 3,514 4,438 17
St Clemont's Communlty Property Trust Notes to the Financlal Statements for the year ended 30th Juno 2025 9. Llabilltles: amounts falling due withSn one year 2025 2024 Cre(lilors Accruals Deferred income Other creditors 3,119 11,455 3,240 1,513 6,030 9,195 1,737 2,136 19,327 19,098 10. Fund mov•ment$ Incoming Resourcesl R•valuatlon Openlng Balance 2025 Total Expendlture Closlng Balance Tran$fors Unrestricted General Resetve 60.000 344.631 1279,8711 144,7601 80.000 Deslgnated Fixeof Asset Fund Renovatlon Reserve 4.223,250 115,687 637,199 {8921 114,604 169,8441 4,974,161 4S,843 4,398,937 981.830 (294,7631 5,100,004 Incoming Resourceyl Revalu8tlon Openlng Balance 2024 Total Expendlture Closing Balance Transfers Unrgstrlctsd General Rg88Ne 67,454 318,166 1306,6831 118,937) 60,000 D•aignotcd Fixed Asset Fund Renovation Reserve 4,223,250 96,750 4,223,250 115,687 18,937 4.387,454 318,166 1306,6831 4.398,937 Unretstricted funds - those funds whlch the TtU8tees are free to use in accordan wtlh tho objects of tho Charty. Designated Fixed Asset Fund - the value of the Charity's ftxed assets. Transfers to the Fixed Assgt Fund in the year represent Ihe cost of fixed 8SS61 addttions. Expenditure lo the fvnd represents the depreualion charge Sn the period. Dgsignaled Renovation Res6rve- held In the event of any malor propgty overhauls requiwl to be carried o by th& Trustees. 18
St Clement'$ Communlty Property Trust Notes to the Flnancial Statements for the year ended 30th June 2025 11. Summary of Net Assets by Funds Unrestricted Funds Designated Funds Total 2025 Fixed assets Net current assets 4.974,161 45,843 4.974,161 125,843 80,OOCI 80,000 5.020,004 5.100,004 2024 Fixed assets Nel current assets 4,223,250 4,223,250 115,687 175.687 60,OOQ 60,000 4.338,937 4,398,937 12. Relatsd party transa¢tEon8 The Parochial Church Council of The Ecclesiastical Parish of St. Clemenl's, Oxford, the St Clemenl's PCC, Iregislered charity 11329181 is deemed to be a related party as it was chaired by the Rector of St Clemenl's Church. The charity is also deemed lo be a related party as Its bookkeeper, S J Livingslone is a Trusleg, and S J Livingstone's spouse is also a member oflhe St Cl8ment's PCC. Up until 9kn April 2025. K Rumford's spouse was an elected member of the St Clemènt's PCC. Duririg the year, the Sl Clement's PCC paid rent totalling £7,410 (2024= £7,000) lo St Clement's Community Propety Trust for the use of office space al the St Clemenl's Centre. In addition. the Charity provided accommodation for the Sl Clemenl's curalg, with a value in the region of£23,46012024.. £21,840) perannum. The Charity also provided room hire lo St Clement's PCC. and the value is considered lo be in the reglon of £6,OSO12024.' £5,291) per annum. St Clemenl's PCC were also paty to an IT support services agreement whore the cost of £2,211 12024: £1,608} was paid by the charitsble company and invoiced and repaid by St Clemenl's PCC. During the year. st Clement'3 Gofflin(Jiiity Propeny Trusi maa& a grant of £7,00912024: £7,009) lo the St Clement's PCC towards the salary of the St Clemenl's PCC'S Children's and Familie8 Worker. The Charity of Thomas Dawson {registered charity 203258} is deemed to be a related paty as Rev Mark Hay is a Trustee of the Thg Charity of Thomas Dawson. In the year, the Charity of Thomas Dawson paid licence and room hire fees totalling £2.926 13 months to June 2024.. £660} lo Sl Cltrmenl's Community Propety Tn¢sl for the charty's office and the use of rooms. In the same period, the Charity of Thomas Dawson was paty to an IT support setvices agreernent, where the cost of £1,64712024.' £363) was paid by the charitable company and further invoiced 8fKt repaid by the Charity of Thomas Dawson. The OxFord Winlor Night Sh8lter (registered charity 1175750) is deemed lo be a related paty as ore of its Trustees is the General Manager of Sl Clemenl's Community Propety Trust. The charitable company leases premises with an estimated rental market value of £12,000 to the Oxford Wintor Night Shelter under favourable rates of£6,000 pèr annum12024.. £6,000), with the difference of £6,000 being considered a grant in kind. From January to March, Sl Clernenl's Community Property Trust furthermore provides free room hire to Thg Oxford Winter Night Shelter with an estimated value of £5,057 {2024.' £5,003). The combined value of these benefits of £11,057 has been accounted for as described under note 4 to the accounts. During th8 year Oxford Winter Nsght Shelter also paid for seTvi¢e charges and room hiro fees tolalling £856. 19
St Clement's Communlty Property Trust Notes to the Financial Statements for the year ènded 31Xh June 2025 12. Related party transactions (contlnuod) Open Door (Oxford) (registered charity 11506261 Is deemed lo be a related party as one of its Trustees Joanna Moffett-Levy has been also elected as a Trustee for Sl Clemenl's Community Propety Trust {22nd January 2025}. In the year. Open Door (Oxford) paid room hire fees lolalling £3,585. During the year, St Clement's Community Property Trust purchased second hand furniture from one of the General Manager's close family members. The furniture was valued by the Twst's Ihird-paty Property Managers and the Trust paid £1,422 for the furnitur6.. Calm Agency Limiled {company number 084550031 is deemed to be a lated party as the company's dire¢tor,- Philip Gordon is a Twstee of Sl Clemenl's PCC. During the year, the company provided desrgn and maintenance work for Sl Clemenl's Community Propety Trust's sigTrage for a totsl of £ 537. 13. TNstees' Remunernlion and Exponses and key managem•nt personnel The average numberofemployees during the yearwas 212024.. 2) with 211 employee lime involved in providing thèr support to the governance of the Charity or support servie8s to charitable a¢tMts'es. The day to day running of the Charity is managed by a General Manager bul the Trustees consider that they e the Ch2rty's key management personnel and they give of their time freely. During the year a totsl of £40 of Twstees, expenses were relmbuTsed12024.. £nill. 14. Defgrred in¢om• Under l Over 1 year year Total 2025 Totsl 2024 At 1st July 2024 Additions during the year Amounts released lo income At 30th June 2025 1,737 3,240 11.7371 3,240 1,737 3,728 3,240 1.737 11,737} 13.7281 3.240 1,737 Income has be8n deferred due to timing differenG8s between monies being raceived and the activitres laklng place. 20
St Clèmonvs Communty Property Trust Notes to the Flnancial Statements for th¢ y•ar ended 30th June 2025 15. Staff Costs and employee beneflts The total staff costs and gmployee beneflts w8ro as fcllouts: Total 2025 Total 2024 Wages and $asS Social security Defined contribution pension costs 48,290 45,607 1,209 1,141 49,499 46,748 No employees had employee beneffts in excess of £60,00012024 .' nil). 21