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|



2 



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 a￿rdance 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 b￿adth 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$ponslbllltles
The Tnjslees are rgsponsible for preparing the Trustees, Annual Report and the financial statements in
accordan￿ with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practi￿1.
The law applicablè lo char(ties in England & WaleslNorthern Ireland requires the Trustees to prepare financial
slalernents for each financial yeaf which give a true and fair view of the state of affairs of the Charrty and of
the incoming resources and application of resources of the Charity for that period.
In preparing Ihese fin8nThal statements. the trustees are required to-.
select suitable accour¢ting policigs and then apply them consistently,.
observe the methods and principles in the Charities SORP 2019 IFRS 1021..
make judgements and estimatss that are re880nable and prudent-
stale whether applicable accounting st8nd8rds have been followed. subject lo any material departures
discl(Ised and explained in the financial slalements,.
prepare thè financial statements on the going concern basÉs unless it is inappropriate lo presume that
the charity will corrtinue in opgration.
The Trust&8s are responsible for keeping proper accounting r6¢x)rd$ 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 appli￿ble law and United Klngdom
A￿o￿ntIng 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 aL￿lting 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 I￿19allOn 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 I￿ntInu9d)
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 Misrep￿SentaII0n.
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
st*em8nt 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 Pro￿rtY 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 preparat￿n 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 ent￿e￿ 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 cu￿ent 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 TrL￿teQS 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 peTI￿1C 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 ￿n￿rtaintieS 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 Ca￿sIng 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, Ma￿et 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 prope￿eS 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 revalua￿On 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 $￿a￿sS
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