ANNUAL REPORT OXFORD PRESERVATION TRUST 2023 CONTENTS Trust Objectives Honorary Wice Presidents, Tnjstees & Area Patrons Tnjst Structure Tntstees, Report Foreword from the Chair Trustee Adiwties Trustee Matters Team Matters G￿ert Spaces Properties Swing Bridge Oxford Castle Planning Awards Education and Engagement Communication and Digital Membership Finanaal 10 11 12 12 13 14 14 Flnanclal Report Acknowledgements 42 College Members 42 Corporate Members 43 Beljeman Circle {P4trons) 43 Oxlord Pre5ervatlon Trust wa5 founded in 1927. It Is a reglstered charlty and a company Ilmlted by guarants•. Our Objertives are {a) to preserve and enhance for the benefit of the public the amenities of the City of Oxford and its surrounding5. Ib) to promote and encourage public interest in aNJ knowledge of the history of the City of oxford.and its surroundings. The Trust is attive in five main policy areas: l. Strategic Ownership of Land & Property 11. Projects 111. Planning IV. Membership V. Education & Engagement Full details of the Trusfs activities a￿ given on pages 7-16. There have been no changes in the Trust's policies or methods of workin9 in the past year, and no material change5 are enwsaged in the future. The names of Trustees are listed on page 4. HONORARY VICE PRESIDENTS Prof Malcolm Airs, John Ashdown, Her Honour Ann Campbell, Chade5 Cooper, Edith Gollnast, Dr Malcolm Graham, Tom HassalL Lucy Hughes, Dr lan Scargill TRUSTEES serving during the year Chalr. The Revd Prof William Whyte WIc•vChair Charles Cooper Dame Helen Ghosh (Vice Chair from August 23) Mark Beard Her Honour Ann Campbell John Church Cllr Lizzie Diggins Emily Gee Dr Nick Leimu-Brown Julian Munby Philip Pat*er Cllr Susanna Pressel Cllr Roz Smith Carole Souter DavKI Streat Prof Joe Tah Dr Geoffrey Tyack Cllr Louise Upton Prof Heather Viles a.. elected,. b: co-opted; c: nominated by Unive￿ty, d: r￿rninated by City, e: nominated by County Ito June 231 (from June 231 b {to June 23) b {to December 231 b {from November 231 Ar•a Patrons Dawd Carter & Lady Phyllis Treitel (Boars Hill) Martin Harris (s￿•t0ve￿ Daniel TarLey (Sandford & Kennington} Trust Struclure The Board of Trustee& which 15 made up of six elected, six co-opted and six nominated Trustees, set the strategic direction for the work of the Trust. Each Trustee is appointed for a three-year tem) and are required to be members of the Trust. There is ojrrently one vacancy for a co-opted member. All Trustees attend familiarisation day5 during their temis and are expected to tske an artive iole, to join a committee, and to get to know the Director and her team. During their tein Trustees are offered regular opportunities to engage with the current worl and to attend the wide variety of meetings, events and site vi51ts that take place. The Trustees have appointed a Director to run the Trust on their behalf, supported by a team {four full- timelfour part-timel with relevant professional and administrative skill& The Director manages the day-to-day work implementing strategy and policy, which is reported through the Committees/sub-Committees who meet quarterly. Debbie Dance wa5 the Trust's Director until 31 December 2023. Anna Eavis took up the role, renamed Chief Executive Officer on l January 2024. Committee membership is made up of Trnstee5 and co-opted members with relevant skills, and all are chaired by a Trustee with professional advisers in attendance as appropriate. The new committee stnjcture was agreed by the Trustees in 2022 and implemented from January 2023. The Trustees meet four times a year with minutes and written reports of the meetings provided. Executlve CommltteL membership drawn from OPT Committee chairs. Chades Cooper {Chai¢lto June 23}, Revd Prof Williarn Whyte {Chairllfrom Juty 23), John Church, Cllr Lizzie Diggins Dame Helen Gtx)sh, Dr Nick Leimu-Brr)wn, Carole Souter, Prof Heather Viles. Engag*ment Commlttw. membership, education and engagement actNities. Cllr Lizzie Diggins (Chair), Her Honour Ann Campbell (until June 231, Suzy Drohan (from May 23}, Alice Purknss (from May 231, Cllr Roz Smith Louise Thoma5 (from May 231. Financè Cornrrnttw. budget5, income & expenditure, investment policy. John Church (Chairl, Mark Beard (from June 231, Chatles Cooper (until June 23), Philip Pa￿er, Jens Tholstrup. Green Spaces Commlttev. land in which OPT has an interest. Dame Helen Gtr¥)sh (Chair), CatrK)na Bass (from April 231, Dr Nick LeimU-BroW￿ Cllr Roz Smith, wa￿er Sawr Representatives from Savilis.. Charles Campion, Loma Meaden. Herliag• Commltt••: buildings in which OPT ha5 an interest and public realm. Prof Heather Viles (Chair), Her Honour Ann Campbell (until June 231, Julian Munby, Cllr Susanna Pressel, David Streal Cllr Louise Upton. Plannlng Committee: oversees responses to planning policie5. Carole Souter Ichair), Fiona 8arthok)mew. Chris Cousin5, Emily Gee (from April 231, WKtoria Grane, Prof Rajat Gupts (from Oct 231, Noel Newsor¥ John Stevertson. Profjoe Tah, Dr Geoffrey Tyack Susialnablllty Comrnltter. membership drawn fr¢)m OPT Committee chairs. Dr Nick Leimu-Brown (Chair), Revd Prof William Whyte. John Churcty Cllr ￿ZIle Di9Jins Dame Helen Ghos Carole Souter, Prof Heather Wiles. Oxford Hood Alleviation Steering Group OFA&. Prof Joe Tah (Chair), Her Hor￿Ur Ann Campbell {until June 23), Dame Helen GIK15h, Dr Nick Leimu-Brown. Advise￿ Charles Campion (Savillsl, Peter Canavan (Carter Jonasl, Rhys Coombs ICC Hydrodynamic Ltd), Hannah Ethard5 (Mills & Reevel, Hannah Fraser (H Fraser Consulting), Melanie Grimshaw Imills & Reevel. Laura Ludlow {Mills & Reevel, Scott LYTESS KC (Landmark Chambers). Guthrie Mc9ruer. Loma Meaden1SaMllsl, Steven Sensecall Icarter Jonas). Jeremy Smith ISLR Consultirwj). t)ominic W¢X)dfseld IBioscan (UK) Ltd). ChJir5 and Soqetsri0s of Area Comrrri Marston: Boars Hill: Lucy Hu9hes Dr Robert Mthr Nigel Jones Professlonal Ad¥lsors Land Agent&. Savills (L￿P} Lt4 Wytham Cour¢ 1 I West Way, Botley, Oxford, OX2 CQL 8arclays Bank plc, PO Box 333, Oxford OXI 3HS Cr[t¢hI￿ Audtt LLP, Beaver House. 23-38 Whe Bridge Street Oxford OXI 2EP Blake Morgarn Seacourt Tower, West Way, OxFord OX2 OFB Mills & Reeve. 27 Park End Stree( Oxford OXI IHU Cazenove Capital Man￿eMent Ltd 12 Moorgate, London, EC2R 6DA Sarasin & Partners LLP, JuxonHouse. 1￿ St Paul's Churchyard, London, EC2M 8BU Carter Jona5, Mayfield House. 256 Banbury Road. Oxford OX2 7DE Banker>. Audito SolicitotS.' Investment A(fviser& Planning Consuliants: Team Oebbie Dance FWCS FRSA IHBC OBE tto D￿mber 23) Chief Executive Officer Anna Eavis (from January 2024) Operations.. Stephen Dawson FIna￿e & G0veman￿. Hywel Edwards pn Planning: Laura Warden pn Heritage & Planning.. Shona Carr Green Spaces Officer. (maternity leave} Chadie Jackson (to October 23) Green Spaces Officer. Hannah Brockwell pn (from January 231 Membership.. Louise Lockyer (from Febtuary 23) Development & Communication& Nina Urai Reglstered OFfi¢e 10 Tum Again Lane, Oxford OXI 1QL Telephone'.1018651242918 EmaiTr. info@oXfordpresÈrv￿J[￿.0rg.Uk Websit¥. www.oxford reservation.or Oxford PreseNation Trust is a company limited by guarantee Registered in England number 225839 Registered with the Charity Commission number 203043 Registered forVAT number 879 0464 82 A copy of the Tr￿$r$ goveming Memorandum and Articles of Association is available on request from the Office. Fweword from the Chalr 2023 ha5 been memorobleyet7r for the Trust. After much thought and on incredible twenty-fiveyeors of Service. Debbie Dance retired as Director ot the end of theyear. Not only OPT but Oxford 0$ o whole owe Debbie o huge amount During her time os Dirertorshe effertively reinvented the Tn15t. turning It into the Strong organtsation it is today. She manoged the acquisition of 300 t7cres of green spaces ond delivered numerous projects including the tronsfvrmotion of OrfDrd Costle. the restoration of Rewley Roodswing Bridge, thepreservation of the Mr7tyrs' MemorioL the Virtorio Fountain, the Painted Room, andthe CoYer*dMorkeL The tist is seemingly endle55. Debbie started the hugely sutcessfvl O&frrd Open Doors ond Overs¢￿ the growth of the OPT Awords. Thonks to Debbi¢ OPT is now seen 0$ o notionol leader tn heritage policy ond artiv(sm os well as o locol force for good. Whot o fabulous legocy. I must olso thonk the OPT team and my ftllow Trnstees who continue to ensure the wofft of the Trust goes on ond Ishould olso l(ke to acknowledge the remarkable support we receive from ourmembers, patron5, voluntee￿, and oll those who glve time ond money to enoble our work. You hew moke this extroordinory organisotion possible. Thonkyou. Tntst Aclivities The Trustees fvlfil Trust Aims and Objectives through five areas of work- managin9 green spaces and buildings, planning, projects, education. and engagement including membership, and in accordance with the Charity Commission guidelines on public benefit. We were joined by over 70 members at this yearfs AGM at Pembroke College, and we thank them for hosting us. Our speaker was OPT Trustee Carole Souter, who spoke about her role as Interim Chair of Historic Royal Palaces, highlighting the work of HCT and the similarities to OPT. Carole also highlighted the significant events of both the death of Queen Elizabeth11 and the Coronation of Kiw Charle5111 within the space ol the year and how HCT were involved. This year saw the 18th Oxford Open Doors and we celebrated foty-six years of the OPT Award5 as our opportunity to recognise the wonderful work of others. We have continued with our green spaces projects al the newfy acquired Larkins Lane and Harcourt Hill Fields and completed our woodland restoration project at Boars Hill. The new fencing at the Old Be￿eleY Golf Course was installed in plenty of tirne before November when we welcomed Sir Philip Pullman to plant an English Oak to mark the Coronation of King Chades 111. We continue to express our gratitude to the William Delafield Charitable TTUSt who support our herrtage projett work and are delighted that our Discovering Heritage and Green Spaces project will shortly be rolled out to Wood Farm where we look forward to wot*ing with the local communty. At the beginning of 2023 the Trustees launched their new committee stTUCture to support our strategy "Towards the Centenary - Our Strategic Plan to 2027° with membership and terms of reference for each committee being agreed. The five Committees ot Planning. Heritage, Engagement Green Spaces and Finance, a￿ each chaired by a Trustee, with a membership of two to three other Trustees and co-opted members with relevant skills. The Committees all report to both the Sustainability and the Executive committee and then to the full Trustee board in a cycle of quarterty meetings. We will review the effectiveness of our new structure in 2024 to ensure its effectiveness in delivering the strategy. Also in 2023, we launched the Centenary Fund to support our future project work as we look forward to celebrating the Icoth anniversary of the Trust in 2027. We are extremely grateful for all who have supported the appeal and look forward to sharing more of our cente￿ary Plans in 2024. By far though, the most significant event of the year was Debbl• Dante's decision in Januaryto retire as Director after 25 years of service to the TrusL Debbie gave her full SLlPPOrt as we launched a fecruitment process for a new Chief Executive o￿lter with an eX￿ptionallY strong field of candidates applying. In August we were delighted to announce the appointment of Anna Eavts as our new CEO. Anna has a huge wealth of experien￿ in the heritage sector and is currently, Curatorial Director at English Heritage with responsibility for the stewardship and presentation of over four hundred historic sites, their collections and landscapes. Anna is a Trustee of Leeds Castle and a member of the fabric committees at both Canterbury and Salisbury cathedra15. She has a particular interest in medieval stained gla55 and ha5 long been a committee member of the Corpus Vitrearum, a BrÈtish Academy-funded project dedicated to the research and publication of historic stained glass in Britain. She was formerly a Trustee of the Stained Glass Museu Anna has Irved in East Oxford for twenty years and we look forward to welcorning her to the Trust in January. Trustees M•tte We remain grateful to all the Trustees who brir4J an enviable range of expertise and experience to the Trust. At the AGM we noted with sadness the decision of Ann Campbell arKI Chades Cooper to stand down. Ann Campbell had served as a Trustee since 2005, bringing her legal expertise to bear on a number of i5sue5 faced by the Tnjst. Ann also championed our interests in Oxford Castle as Chair of the Castle Commrttee. Charles Cooper had been a Trustee since 1999, acting as Vice Chair, chairing the Finance & Executive meeting and a member of the Investment Committee. His business expertise, common sense and good humour will be missed. Both Ann and Chades have been appointed as Vice Presidents in recognition of their long service and support of the Trust We were also sorry to note that John Church also decided to retire at the end of the year having chaired first the Investment Committee and then the Finance Committee. In these roles he was invaluable in ensuring we remain in strong financial shape. In June we were pleased to welcome Mark Beard who was elected as a Trustee who brings a tremendous business experience in the construction industry. Team Matt•rs The m05t significant change to the team wa5 of course the retirement of Debbie Dance as Director at the end of the year (see Trust Activities above). Stephen Dawson as Operations Director has continued to give Debbie nd the tearn invaluable support and ensure the smooth day to day operation of the Trust across all its work. Nina Urai as Development and Communications Officer has tsken the lead on our new website projert to be launched in 2024, as well as leading on the co-ordination of the annual Oxford Open Doors evenL Chadie Jackson did not return to work after her maternity leave, instead moving to Exeter where her husband's work had been relocated. We wish herwell. This meant that Hannah Brockwell who was covering Charlie's maternity leave as Green Spaces Officer ha5 Stayed on with us and has done wonders with increasing our volunteer engagement and working on projerts at Larkins Lane, Harcourt Hill and Boars Hill. Laura Warden, as Senior Planning Officer. continues to bring a wealth of experience to our planning work and is ably assisted by Shona Carr who also organises the OPT Awards. We were delighted that Shona gained a distinction in MSC Historic Conservation at Oxford Brookes which OPT 5UPPOrtÈd. Louise Lockyer joined us as Heritage and Membership Officer in February 2023 and quickly showed her ability in ably boking after our growing membership and organising our annual events" programme. Hywel Edwards, as Finance and Govemance Officer, continues to ensure our finances remain in good shape and give5 invaluable support to the team. Green SpKes Thi5 year we have been working towards opening up the two spaces acquired in 2022, instslling new fencing on Boars Hill and continuing to work with our land agen( ecological advisers and volunteers to manage our green spaces. Larklns Lane Fleld A great deal has been achieved this year towards opening up thi5 space, includirrfj duty of care tree work& installing fencing and gates arKI clearing large areas of nettles and brambles. The small stream running through the space is a remnant of a spring fed alkaline fen las present at the nearby Dunstan Park) and our contractor, Rod d'Ayala, with volunteers has started restoring the fen by widenin9 the profile of the stream and installing leaky, log dams to re-wet the area. Seeds donated by Friends of the Lye Valley have been sown and over time wetland plants will establish and peat will form. This restoration is a nature-based solution towards tsckling climate change and we will continue the work WFth volunteers in 2024. Harcourt Hlll Fl•lds Vegetation clearance work has been carried out in the newly acquired field which arguably has the best view of the dreaming 5pire5 of all OPT'S green spaces. We await the results of an environmental survey to asse55 the space as a Local Wildlife Site. In 2024 we will progress the management of thi5 space making the field ready for grazing, with fencing and water troughs instslled. Boars HIII In Spring 2023, the Trust for Oxford5hire'5 EnvironmenVNetwork.Rail funded woodland management project was completed where we have opened up three areas (Matthew Amold Reserve, Jarn Heath. and Abraham Wood) to increase biodiversity and improve access. Aftercare of the areas has been included in our management plans going forward. The replacement of the fencing and gates along the top boundary of the Old Berkeley Golf Course was carried out in the Springlsummei made possible by a generous legacy from the late Peter Robinson. In 2024, we W￿11 work on plans to open up Uncombe Lane Fleld and Reserve to improve public acces5 and increase biodiversity. New signage at H•yford Meadow has been installed with support from Sandford on Thames Parish CoLtncil as part of our new wayfindlng. slgnage. and Intèrpr•tatlon proJ•d. Designs are being wot*ed on for green spaces across Boars Hill and will be installed in 2024. In February 2023 the Environment Agency served a Compulsory Purchase Order for the Oxford Fl¢od Alleviation channel IOFASI to acquire the land and rights to land needed to build the scheme. A Public Inquiry Was scheduled for the ALrtumn and we assembled a team of experts to assist our legal team in presenting a case for considering alternatives to protert the rare MG4a gra551and in Hinksey Meadow. The Inquiry will close in January 2024 and we expect a decision to be reached in Summer 2024. Alongside this we still await the outcome of the planning application for the OFAS to which we have also engaged and submitted a response. We are grateful to Dr Tim King and Dr Judy Webb who carried out the annual count of Snakehead Fritillaries. At Marston Hamm although relations With the Grosvenor Estate have improved there are still a number of obligations to fulfil and the Green Spaces committee will meet on site to discuss this in 2024. Another successful hay crop was taken this year and aftermath grazing with cattle has meant further impiovement in the condition of the meadows. We expect Thames Water to connect the water supply in early 2024. We are also at the earty stages of considering a wider partnership with other landowners in the Marston area on an ecosyslem restoratlon projert on fields along the River Cherwell. OPT hold a number of legal covenants on land and property around Oxford which help in protecting the historic environment and its green setting. We visited Shotover as part of this yearfs Progress and the Trustees continued their conversations about the City Council's proposal for a burial meadow on land there. At South Park the Oxford Artisan Distillery have consulted us on revised plans for the site to include provision of public WC and café facilities with plans to submit a planning and listed building consent application shortly. The Trustees have expressed their deep concem about the damage caused as a result of the annual fireworks event which has limited public access to some parts of the pa￿ We are liaising with the City Council and the Friend5 of South Park constnJctively to ensure that repairs to the park are carried out a5 500n as weather conditions allow and to consider how future events in the park are managed and organised going fotward. Voluntwrs and Engag•meTrt Hannah Brockwell has been working closely with volunteers at ourGreen Spaces thisyear and monthly sessions continue at W0￿erC0te Lakes and Heyford Meadow. The regulor work parties at Larkins Lane are fully establish￿ and a new group will be estsblished next year to look after the Rewley Road Swln9 Brldgè and suffounding lanéKape. To support the stewardship of ourgreen spaces, work parties have also been carried out at Boars Hill (Abraham Wood. Old Berkeley Golf Course, Matthew Amold Field & Reserye, Jarn Heath, Jam Mound and Wild Garden and Elvzabeth Daryush Memorial Garden), Kennington Memorial Field, lffley Island / Meadow Lane, lffley Glebe, Simons Land and Wolvercote Lakes. Continuing our tradition of tree planting to commemorate Royal events, on 25th November Sir Philip Pullman planted an English Oak on the Old Bwk•l•y Golf Cours• to mark the Klng's Coronatlon and also to thank the family of Peter Robinson who left a very generous legacy donation to OPT. We were delighted to be joined by the local community, volunteer5. SUPPQrters, and Scouts from Abingdory Wootton, and Dry Sandford. We then warmed up at Youlbury Scout Adventures Centre with tea and cake. Other events in our green spaces included a Meadow Day walk with Julian Munby around Hinksey Meadow, a walk and talk around Matthew Amold Field and Reserve and Jarn 4eath with Rod d'Ayala, as well as Old Headington Open Gardens and Apple Day at Wolvercote Community Orchard. We are very grateful to our OPT volunteers, Abingdon Green Gym. Oxford Conservation Volunteers and Oxford Good Gym. Their contribution and hard work is crucial towards supporting the management of our green spaces. Propertles The Palnted Room continues to delight visitors with our popular monthly tours and a special visit this year for pupils from Marazion Primary School, Comwall and at Oxford Open Doors we welcomed 1,30D visitors across the weekend. For the first time this year Shakespoare Birthday Cel•bratlons began at Oxford Castle & Prison where we welcomed Oxford Spires. Students to perform to invited guests and the public, and then the patade led by our own 'Shakespeare' town crier and with music from the Oxford Waits, made their way to the Painted Room. Shakespeare Scholar, Dr Robert Stagg, raised the toast to the immortal bard in malmsey & sac with a further inspiring perforrnance by the students of Oxford Spires. We hope next year to increase the range of events as part of our annual Shakespeare celebrations. Towards the end of the year works began to complete the restoration of the Painted Room with thanks to support from the Eyre Estate and William Delafield Charitable Trust and we welcomed James Mackintosh Architects who now (KCUPY the upper floor. With the costs to convert the barn at Lords Far￿ Eynsham into a two-bedroom dwelling being far higher than expected, we are Considering the options for this project and have meanwhile renewed the planning and listed l)uilding consents. We are gratefijl to custodian Rachel Everett for her regular tours of 26a East Helen SITeeL Ablngdon and were delighted to welcome over Visito￿ for Heritage Open Day5 in September. At Turn Agaln Lan•, Avril Hughes continues improve the garden and we hope in 2024 to carry out repair and improvement works to the cottages. 10 Rewl•y Road Swing Bridge We are extremely gratefijl to the Railway Heritage Trust who have awarded us a grant for the landscaping works to complete the projecL During the year works to the South Abutment were carried out and new railings installed around the site. The remaining works prevented by the continued wet weather will ￿ completed in 2024 and it is planned to manage the site going forward as a wildflower meadow with the help of volunteers who will also assist in maintaining the bridge stnjcture. New signage and interpretation has been progressed and will be irfjtalled shortly. In September we were delighted to welcome back the projert team and representatives from oui fijnders Historic England, Ne￿0￿ Rail and the Railway Heritsge Trust t0 See the newly installed National Rai￿aY Heritage Awards Consemtion plaque. The plaque was unveiled by OPT Vice PresidenLTom Hassall and former Railway Manager, David Mather who were crucial to making this project happen. Later in the day we were also joined by Network Rail Chair, Peter Hendy, Baron Hendy of Richmond Hill to see the restored Swing Bridge followed by a boat ride to take in the view from the water. Oxlord Castle & Prison continues to perfom well with an increased number of visitors over the course of the year despite challenges due to the Botley Road closures and works to the railway. We have also continued to see an increased number of school visits acr055 the year. Jerirho Coffee Traders have become well established in the café building with a loyal customer base and we continue to engage with site owners Land Securities regarding enlivening the rest of the Castle Quarter. We were delighted to base ourselves in the ca5tleyard again for Oxford Open D¢)ors, creating a hNe of actwity with various events and artivitie5, and our lighting of the Chri5tma5 tree has now become an annual event with the tree kindty donated by St John's College. We are grateful to the County Council who completed repair works to the shop roof and who are now working on the repair of the roof to Debtors, Tower. We continue to experien￿ problems of anti-social behaviour on the Mound which is also damaging the stru(ture, and we continue to engage the County and Historic England to try to find a solutton. Plonning We are grateful to members of our planning committee who share their views, expertise and knowledge throughout the year. Rajat Gupta- Professor of Sustainable Architecture and Climate Change- also joined the planning committee and we are grateful to have his expert input in terms of sustainability. In line with the wider OPT Strategy, a Sustainability'task force, sub-committee will be established to develop a sustainability strategy and guidance document to help inform future work and comments on planning matters. The day-to-day work of the planning team continued during 2023 including the review of weekly planning lists and identifying applications where OPT may wish to comment reviewing planning applications, attending pre- application meetings and rewewing and submitting comment5 on planning policy where relevant. We a150 have regular meetings with Officers from the City Council and other advisory 9roups such as Historic England, to ensure we are aware of current pressures and issues within planning. Since announcing the cancellation of their joint strategic planning policy document last yeaf IOxPlan50), the various local authorities have been working independently on producing their own up-to-date policy documents. As now seems to be tradition, Oxford Citys consultation on the draft Local Plan 2040 ran over the Christmas period. OPT submitted comments mainly relating.to five key issues that run through the document as a whole= heritage, Oxford's green setting, protecting views in and out of the city, improving and protecting the public realm, tourism, and access to green spaces and connectivity between them. We await a consultation by Vale of White Horse and South Oxrordshire District Council earty in the new year for their emerging plan. We will continue to monitor the progress of the Local Plans and will engage as required throughout the process. Two key issues which continue to provide a pressure within and around the Cty are the demand for Life Science research space and a continued demand for large areas of green space to accommodate solar farm schemes around the city. OPT attend pre-application meetings Wlth developers and try to ensure that when schemes come foNard the potential impact on things such as long-di5tance views in and out of the aty have been fully considered and assessed so the potential implications can be lully understood. Discussions with the County Council have been ongoing regarding the future of Broad Street OPT submitted comments. in consultation with Kim Wilkie Architects on the County Council consultation document regarding the future opportunities for Broad Street following the trial pedestrianisation scheme. The County Council have also informed us that they have begun work on a Central Oxfordshire Movement and Place Framework ICOMPFI - we look forward to working alongside other key stskeholder to assist with the produrtion of this document which aims to provide a blueprint for public realm transfonnation across Oxford its surrounding area. Awards Thé Annual OPT Awards are intended to be a celebration ol the best in new design, sustainability and historic conservation, and the contribution these buildings can make to Oxford and the Surrounding area5. This year we had 52 entries, ranging from large new developments to small. but still swnificanl, works of conservation. The six categories remain unthanged and these are Conservation, New Buildings Small Projects, Landscape and Public Realm, Temporary Projects and the Green Awards. We had impressive plaque award winners in every cate90ry. This year plaques went to Low Carbon Bungalows in Marston and Wood Fami, Bullingdon Community Centre, The Curve at Between Towns Road, Internal alterations and decorations at Corpus Christi Roman Catholic Church in Headington, the Old Library Refurbishment at Christ Chijrch the Old and Laudian Libraries and the Canterbury Quadrangle at St John'5 College, the Oxford Universty Museum of Natural History We$￿00d Room refurbishmen( and the Marston Community Gardening scheme at Court Place Farm Allotments. The Awards evening itself was overseen by William Whyie, the Chaim)an of the Awards panel. and on top of the eight plaques that were awarded, a further frfteen certificates were also handed out to entrie5 in the various categories. A special plaque was also awarded to Debbie for her 25 years of seNice to the Trust We must thank our expert Judging Panel who spend many a sunny day (￿Sit days are always in July) visiting all the entries and to Harriet Waters, the Head of Environmentsl Sustainability at University of Oxford who presented this yearfs Green Award plaque. We are extremety grateful to Carter Jonas, Critchleys and Mathews Comfort Insurance Brokers for theircommitment to sponsoring the Awards, and to St John's College who host the Awards evening. Educatlon & Engagement After the 5ucces5 of the Discovering Heiitage & Green Space& Rose Hill project, we were keen to continue this project working with the local community at Wood Farni. After receiving a é10,OCrf) grant from the Council of Europe to support this, we commissioned local historian Liz Woolley to research the history of Wood Farrn and will continue thi5 projert in 2024 supported by our new Engagement Officer, Anna cla￿ who joins us in January. Our annual Easter Egg hunt in Abraham Woods, Boars Hill was once again popular with families and TrMII be repeated in 2024 to include Wolvercote Lakes as well. Oxford O￿n Doors 2023 was a huge success with an estimated 25,OCN) visitors and over 150 venues tsking part. This year's theme was'Everyday Oxford,, with a focus on the heritage of everyday life in Oxford. Highlights included a range of energy saving homes demonstrating different ways in which to retrofit properties the Bodleian Librarls A to Z range of events, the stunning gardens of Worcester College and a wide range of 12 lectures, events and tours at St John's. The Castle remained a hive of activity with free tours, archaeology, stone aNing demonstrations, classic cars, and performances from the City of Oxford Silver Band. Opportunities 10 see new buildings in progress at both the sChwa￿man Centre and Osney Power Station a150 proved to be very popular. In the week before our members enjoyed a special events programme including tours of St Catherine's College, a tour of ￿ energy-saving homes in Rose Hill, the OPT Awards winners. walk, as well as an Escape Room at Oxford Castle & Prison. The RIBA lecture was given byJay Gort and Fiona Scott ofGort Scott Architects at St Hilda's College Garden Pavilion and was well attended. We thank our main partner the University of Oxford for their continuing support and Oxford Bus Company for promoting the weekend. We also thank Green Templeton College who hosted the launch of Oxford Open Doors in the Radclrffe ObseNatory Tower and are extremely grateful to all who volunteer and orgalli5e events and open their doors. without whom the event would not be possible. In March 2023. Developmenl and Communications Officer Nina Urai won one of 14 places on the Heritage Open Day5 New Wave Progr•mm•. A focus group was formed of young people based in Oxford, including Shona ca￿ and Louise Loctyer IOPT Team), Victoria Grane (Oxford Brookes, Msc Historic Conservation), Nina Holguin Iuniversity of Oxford, Msc History of Art and Visual Culture), and Andrew Mansonlmani (local graffiti artist). Through a series of development sessions and meetings, the group identified barriers to engagement for young people attending heritage events. Through these findings the group planned and delivered a t-shirt upcycling workshop and self-guided graffiti trail for Oxford Open Doors. Visitors were encouraged to bring old t-shirts and tote bags to the Oxford Castle Quarter. where Mani ran a silkscreen printing workshop where wsitors could print Oxford landmarks, such as the Radcliffe Camera. Headington Shark and Sheldonian Heads onto pre-loved items. After Pfinting. while their t-shirts dried. visitors were encouraged to follow the heritage graffiti trail. The event Was featured in The Guardian newspaper and turned out to be hugely successful, with over 300 attendees. We have received positive feedback from those who participated and our Instagram following has grown by over 4CK) followers since the end of May. with a considerable skew towards a younger demographic. We intend to build on this succe55 to continue engagement of young people with our wor< events, and membership. This year we were delighted to continue the OPT Internshlp AwJrd which recognises an Oxford Brooke5 student studying the Historic ConseNation MSC. Victoria Grane received the Award and was given the opportunty to sit on our Planning Committee and Awards Panel and also assisted us at Oxford Open Doors. Charfie Jacobs has been selected for the Award and will work wTrth us in 2024. Communlcatlons & Digitsl We have continued to offer a range of virbjal events throughout the year including at Oxford Open Doors and are looking at making available our previous events so people can continue to enjoy them. The deve5opment of the new website has progressed during the year and will be launched in January 2024. Our social media presence remain5 Stron9 on Facebool Twitter and Instagram, as we improve our engagement with a younger audience. Membershlp We continue to.have a high level of retention and we are lucky to have such loyal and dedicated members who are engaged with the work we do. We are extremely grateful for the many generous donations made in support of our new Centenary Fund launched a5 part of our plans to celebrate OPT'S 1CKI anniversary in 2027. Our annual programme of events tontinues to be popular with some of the highlights including exclusive tours of The Oxford Union and Library as well as All Souls College. We were grateful to Magdalen College who once again allowed us the opportunity to experience a climb up the Tower orb May Morning to take in the views, and in the summer, we were treated to guided walks around the Nuneham Courtney Estate and North Hinksey 13 Village by OPT Trustee Julian Munby and Vice President Malcolm Graham respertivety. The Chairman's lerture continued with 'John Betjeman, John Piper and the face of En9land' by renowned art historian Frances Spalding and we look forward to this series continuing in 2024. We ended the year with Debbie's final Christmas lecture where she reflected on her 25 years at OPT to a packed room. followed by the lighting of the Castle Christmas Tree and drinks in Old County Hall. It means a great deal to have the continuing support of our Corporats members with manyjoining us for both the Oxford Open Doors launch and the OPT Awards evenir4J. This year we also relaunched our Coll•g• membefship scheme with a bursars. lunch kindly hosted by OPT Trustee Phil Parker at Brasenose College. A list of our Corporate and College members is included on pages 42 and 43. We are helped in our mission to promote aThJ protert the heritage of Oxford by our 72 Potrons who make up the B•tJ•man Cird• and have been immensely generous this year with donations and particular support for the Centenary Fund which was launched in the Summer. In May we welcomed the Patrons to a site visit around the University of Oxford's new Humanitie5 Building, the Sthwaoman Centre, followed by a talk by John Fulljames, the Director of the Humanities Cuhural Programme in St Luke's Chapel. In September following the announcement of Debbie's retirement earlier in the year we celebrated her 25 years of dedicated service to the Trust with a dinner at Balliol College to which all Patrons were all invited. In April, we were saddened to learn of the death of Patron member Heather Lleweltyn. We enjoyed welcoming the Centenary Clrcle, our legacy group, to the stiiking venue of St Giles House to enjoy the hospitality of St John's College at our annual Chaimian's Tea. We are grateful to former life member Jean Phillips who remembered us in her Will. Flnancl•l In contrast to 2022 there were no land acquisitions or disposals in the year. That fact coupled with other artivities saw the net income (before unrealised gains/lossesl change from a surplu5 in 2022 of £1,255,828 to a loss in 2023 of £483J78. This Ioss was anticipated and in line with our budget. The most substantial feature of our expenditure were the costs arising from the Oxford Flood Alleviation Scheme with the direct costs totalling £330,539. Other notable expenditure included £77,004 on the Swiro Bridge, with further works to the scheduled monument landscaping and fencing. The William Delafield Charitable TNst funded restoration and improvement works to the Paintsd Room costing £63222. Our restricted reserves grew by £8,282 in the year, most notsbty with the addition of the Centenary Fund, which stood at £25,320 at year end. In accordance with the re-negotiated lease for Oxford Castle a proportion of our receipts are put into a special fund for future capitsl spend at the site. The nature of the spend to be agreed with our partners at the Castle, Continuum, who will 100% match fund any expenditure. Restritted Funds are held for specific projert5 With Unrestricted Fund5 available for general ￿e, both as cash and investments, all of which are held in fijrtherance of the Twst's strategic aims and objectives. OPT'S green space5 and properties are also held in furtherance of the Trusfs aim5 and objertwes and are sh¢)wn as designated thnds. The financial strategy of the Tnjst is to balance income and expenditure over the longer term and the OPT team, led by the Director, work hard to achieve this, keeping down c05ts of administration and seeking value for money on necessary expendrtures. OPT operates a policy where all project work funding must be identified befo￿ work lakes place. Expenditure on reviewing and commenting on plannin9 proposals continues to reflect the importance of this area of OPT'S work with £49,227 being spent on this aspect in addition to the OFAS. Invertment The Finance Committee has responsibility to oversee investment policy and during its quarterly meetings reviews the performance of the TNst's portfolio. As at 31 December 2023. the investments totalled £3,774,851. 14 £2,198,644 was held in the Cazenove Charity Responsible Multi-Asset Fund and £1,576,207 was invested in the Sarasin Climate Active Endowment Fund. These investments seek to generate long-term retums appropriate to a balanced portfolio whilst acting as a responsible investor. Totsl investmeni income which was used to fund the work of the Tnjst was £131,965. In 2023. the investment portfolio generated a positive totsl retum (income and capital movement, less costs) of £274,667 compared to a negative £352,317 in 2022. Thi5 represented a total retum of 7.6% in 2023 12022.. minu5 8.6%). which was considered to be a satisfactory performance in the context of market conditions and the Trusts ethical choices. At theyear end the Trust had totsl assets of £7,804,592. Tangible and heritage assets stood at £3,204,830 {2022'. £3,212,092). Investment5, designated funds and general funds were £4,387,325 12022.. £4.720,421), with unrealised gain on investments of £151,307 mitigating the net Ioss generated by our other activities. There is a further £212,43812022= £204,156) in restricted funds. Within the unrestricted funds the principal designated funds are Lord's Farm £454,578. Education and Engagement £249,552, and the William Delafield Charitable Tnjst £48,794. The Trust holds unrestricted ￿selveS to enable it to move quickty to secure land in line with our strategic aims and objectives. Additionally, income from the investrnent portfolio supports routine annual expenditure and is considered essential to maintaining the Trust's ongoing activities over the long term. Rlsks The Trust has identified seven main financial ri5k5'. Loss of key personnel. Future lo55 of funding dLfe to changes on European fundin9 relating to land. Diversion of funds due to the unprecedented planning growth around Oxford. Diversion of funds due to the Oxford Flood Alleviation Scheme IOFASI. Cost overrun on the restoration of Rewley Road Swing Bridge. Inflationary pressures. The Trust operates through a small team, some of whom are key to the activities of the Trust and to attrarting funding. The TTUStees are mindful of the importance of valuing these indiwdua15. During the year, the Tru5tee5 have sought to mitigate any problems that may arise through the departure of the Director and will continue to consider the issue of succession planning to provrde continuity when individuals move o A signrficant proportion of the Trust's land income was derived from EU agri-environment grant funding. The Basic Payment Scheme18PS) 15 being phased out12021-2027) and will impact the TfUSt's income. The Trust 15 being advised by an experienced land agentteam, ensuring future income opportunities induding Stewardship schemes. There is considerable pressure to develop in the City and within the green setting of Oxford. The Trustees are mindful of the need to provide the necessary funds to ensure that there is a strong planning team able to fully engage in this area of the Trusfs work. The proposed Oxford Flood Alleviation Scheme IOFAS) runs through land owned by T￿￿L In order to mitigate the considerable effects of the OFAS on Tmst land and to ensure that the wider planning and compulsory purchase implications are properly considered, the Trust agreed costs with various consultants and the Trustee5 greed the budget before committing any expenditure. 15 The Rewley Road Swing Bridge is under contract for restoration work being carried out by a very expertenced team and working closely with the funding partners. Regular meetings take place to aSse55 risks and revise cost plans. The project is on course to be delivered within allocated funds. The Trust is mindfvl of the potential increases in core costs due to inllation. A cautious bLtdget has been set which is regularly monitored with carefvl scrutiny of expenditure. R•muneratSon Remuneration matters are managed by. the Executive Committee who delegate HR matters to the VI￿ Chair of the Trust For and on behalf of t Trustees Reve￿nd Professor William Whyte (Chair) Mr Philip Parker 5 June 2024 16 OXFORD PRESERVATION TRUST ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 INDEX 18 19-22 23 24-25 26 27 2841 Trustees. Responsibilities Independent Auditors, Report Income and Expenditure Account ststement of Financial Activities Balance Sheet Statement of Cash Flows Notes to the Accounts Registered compary number. 225839 Registered charity number. 203043 17 OXFORD PRESERVATION TRUST STATEMENT OF TRUSTEES. RESPONSIBILITIES The Trustees (who are a150 the direttors of the charitable company for the purposes of company lawl are responsible for preparing the Trustees Report and accounts in accordance with applicable law and regulations. Company law requires the dirertors to prepare accounts for each financial year. Under that law the directors have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the diredors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and the incoming resources and resources expended of the company for that priod. In preparing ihese accounts, the directors are reqUI￿d to: select suitable accounting policies and then appty them corbsistently, make judgments and accounting estimates that are reasonable and prudent prepare the financial statement5 on the going concern basis unle55 it is inappropriate to presume that the company will continue in business. The director5 are responsible for keepirg adequate account.ing records that are sufficient to show and explain the company's transartion5 and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the accounts comply with the Companles Act 2Crf)6. They are also responsible for safeguarding the assets of the company and hen(e for taking reasonable steps for the prevention and detection of fraud and other irregularities. So far as the Trustees are aware, there is no relevant audit information {information needed by the charitsble companls auditors in connecti.on with preparing their report) of whith the charitable companls auditors are unaware,. and Each Trustee has taken all steps that he/she ought to have taken as a director in order to make himself/herself aware of relevant audit information and to establish that the charitable compan￿5 auditors are aware of that information. SIGNED ON BEHALF OF THE TRUSTEES Reve￿nd Professor liam Whyte (Chairl 18 INDEPENDENT AUDITOR5. REPORT TO THE MEMBERS OF OXFORD PRESERVATION TRusr Oplnlon We have audited the financial statements of Oxford Presetvation Trust (the 'Charity') for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet and the Cash Flow Statement and r￿te5 to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Stsndard 102- The Financial Reporting Standard applicable in the UK and Republic of Ireland (United ￿ngdorn Generally A￿epted Accounting Practice}. In our opinion, the finantial statements= give a true and fair view of the state of the Charity's affairs as at 31 December 2023 and of it5 income and expenditure for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice- have been prepared in accordance with the ￿qUirernents of the Companies Act 2C￿6. Basls for oplnlon We conducted our audit in attordancewith Intemational Standards on Auditing (UK) IISAS {UKII and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UL including the FRC'S Ethical Standard, and we have fuWilled our other ethical responsibilities in accordance with these requirements We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to golng concern In auditing the financial statements, we have concluded that the trustees. use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or condr(ions that, indsvidually or collectively, may cast significant doubt on the entitys ability lo continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees With respect to going concem are described in the relevant sections of thi5 reporL 19 INDEPENDENT AUDITORS, REPORTTOTHE MEMBERS OF OXFORD PRESERVATION TRUST Iconllnued) Other infOrM￿lOn The trustees are responsible for the other information. The other information comprÉses the infomation included in the annual report otherthan the financial statements and our auditorfs report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly ststed in our repor( we do not express any fom of assurance conclusion thereon. ID connection with our audit of the financial Statements. our responsibility is to read the other information and, in doing so, consider whether the other infomiation is matèrially incon51Stent with the financial statements or our knowledge obtsined in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misststements, we are required to detemiine whether there is a material misstatement in the financial ststements or a material mi55tstement of the other inforniation. If, based on the WO￿ we have perfomed, we conclude that there 15 a material mi55tatement of this Other infomiation. we are required to report that fact. We have nothing to report in this regard. Opinlons on oth•r matt•rs proscrfbad by th• Companl•s Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information gtven in the trustees, report (incorporating the strategic report and the directors, report) for the financial year for which the financial statements are prepared is consistent with the financial ststements; and the tru5tees' report lincorporatiThJ the strategic report and the directors. report) have been prepared in accordance with applicable legal requirernents. Matters on which w• ar• rtyUir￿ to rwort by •xc•ptlon In the light of the knowledge and understsnding of the company and its environment obtained in the course of the audit we have not identrfied material misstatements in the trustees. report. We have nothing to report in re5pecl of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion- sufficient accounting records have not been kept; the financial ststements are Mt in agreement with the accounting records and returr certain disclosures of tnjstees. remuneration specified by law are not made,. or we have not obtaine(l all the information and explanations necessary for the purposes of our audiL Responsibllili•s of th• trustees As explained more fully in the trustees. responsibilities statement set out on page 18, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement whether due to fraud or eiroi. In preparirrfj the financial statements, the trustees are responsible for assessing the Charitys abiltyto continue as a going concern, disclosing, as applicable, matters related to going concem and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic a￿ernatIVe but to do so. 20 INDEPENDENT AUDITORS. REPORTTO THE MEMBERS OF OXFORD PRESERVATION TRUST IConllnu•dl Audltorfs responslbilltles for the audlt of the flnanclal statements Our objective5 are to obtain reasonable assurance al)out whether the firbancial statements as a whole are free from material misststemenL whether due to fiaud or eyror, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUK) will always delect a material misstatement when it exists. Mi55tatements can arise from fraud or error and are considered material rf, individually or in the aggregate, they could reasonably be experted to influence the economic decisions of users taken on the basi5 of these financial statements. Irregularities. including fraud, are instsnces of non-compliance with laws and regulations. We design procedures in line with our responsibilities, Outlined above, to detert rnaterial rni55tstements in re5pe¢t of irregularities, including fraud. The extent to which our procedures are capable of detectin9 irregularities including fraud is detailed below.. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities. Including fraud and non-compliance with laws and regulations. was as follows: the ergagement partner ensured that the en9agement team collectively had the appropriate ompetence, capabilitie5 and ski115 to identify or recognise non-compliance with applicable law5 and regulations- we identrfied the lows and regulations applicable to the charity through disCUs5ion5 With trustees and other management, and from our knowledge and experience," we focused on specific laws and regulation5 which we considered may have a direct material effect on the financial ststement5 or the operations of the charity-, we assessed the ex1ent of compliance wth the laws and regulations identified above through making enquiries of management and inspecting legal correspondence,. and identified laws and regulations were communicated within the audit team regulady and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the charity's financial statements to material misstatemenL including obtaining an understanding of how fraud might occur, by.- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud,. and considering the internal controls in place to mitigate risks of fraud and ￿n-COmpliance with laws and regulations. To address the risk of fraud through management bias and override of controls, we: performed analy1ical procedures to identfy any unusual or unexpected relationship tested joumal entries to identify unusual transactions., assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias,- and investigated the rationale behind Significant or unusual transactions. 21 INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF OXFORD PRESERVATION TRUST (Continu￿) In response to the risk of irregularities and non-compliance wth laws and regulations, we designed procedures which included, but were not limited to: agreeirKJ financial statement disclosures to sjndertying supporting documentation,. reading the minutes of meetings of those charged with govemance; and enquiring of management as to actual and potential litigation and claims. There are inherent limitations in our audit procedures described above. The more removed that laws and regulation5 are from financial transactions. the less likely it 15 that we would become aware of non- cornpliance. Auditing standards also limit the audit procedures required to identty non-compliance with laws and regulations to enquiry of the trustees and other management and the inspertion of regulatory and legal correspondence, rf any. Material misststements that arise due to fraud can be harder to detert than those that arise from error a5 thty may involve deliberate Concealment or collusion. A further description of our Tespon5ibilr¢ie5 is available on the Finanaal Reporting Council'5 website at This description forms part of our auditorfs report. Use of our report This report is made solely to the Charitys members, as a body, in accorda￿e with Chapter 3 of Part 16 of the Companie5 Act 2C4)6. Our audit work has been undertaken so that we might State to the CharitVs member5 those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume respon5ibilty to anyone other than the Charity5 members as a body, for our audit worl for this ￿port, or for the opinions we have forn￿d. Robert Kirtland Senior Statutory Auditor For and on behalf of Critchleys Audit LLP, Statutory Auditor Beaver House 23-38 Hythe Bridge Street Oxford OX12EP 191612024 22 OXFORD PRESERVATION TRUST INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER202Y 2023 2022 ORDINARY ACTIVITIES INCOME Member5 subscription5 Investment Income Rental and other income from land and propety Grants and donations for projects Other restricted income 99,084 131,965 237,994 213.556 91,248 133,345 2CKJ,598 277,499 Totsl income from ordinary activities EXPENDITURE Expendittjre on land and property Proje Planning, scnrtiTry and advocacy Education, mernbership and administration 300,284 242,385 412.324 240,898 227,350 74.691 Total expenditure on ordinary artivitie5 Net deficit on ordinary activitie5 {482,7711 156.8841 OTHER INCOME Income from legacies Realised Iloss)/gain on fixed assets Realised (Ios5) on investments soo 11,107) 27.202 1,285,510 Overall (deficlt)/surplus for the year excludlng unreallsed Investment goin￿(l9$se5> The growth/lreductionl in our restricted reserves whith is included in our ¢)verall surpluslldeficit) for the year {see note 12 for details) 23 OXFORD PRESERVATION TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestrkied Restrlrted 2023 2023 Totsl F￿d$ 2023 2022 Income Grants and donations Income from charitable actiwties Investment income ILoss)ISurplus on disposal of f￿ed a55ets 243,414 237,994 131,965 69,726 108.142 313,140 346.136 131,965 395,949 257.254 133,345 128551 Totsl Income Expendliure Costs of raising funds Charitable activities 18 41,C(12 1062 924 41,002 1232510 54,345 Totsl •xp•nditur• N•1 Oo5s)Ilnc(Kn• and not movement In funds befort gains and lossès on Inv•stm•nts 1491,660) 8,282 {483,3781 1,255.828 Gains1005se5) on investments Realised Unrealised Net (10ss)Ilncome and net m¢Jvement In funds before tTrnsfers 1340.3591 8282 1322,077) 793,103 Transfers btheen funds Net (1055)fincome and net m0￿ment in funds for the year 12 1340,3591 8,282 1332,077) 793,103 Recondllation of fvnds Totsl funds brought forward Total fund5 ￿Trted fmvard The notes on pages 2841 form part of these accounts. All activities are continuing. There are no gains or1055es Other than those recognised through the Statement of Finanoal ActNities. 24 OXFORD PRESERVATION TRUST STATEMENT OF FINANCIAL ACTIVITIES- COMPARATIVE FIGURES FOR THE YEAR ENDED 31 DECEMBER 2023 These figu￿$ show the prior year Statement of Financial ActNities under the Statement of Recommended Practice. unl￿￿￿•d R•strict•d 2022 2022 2022 Income Grants and donations Income from charitable activities Investment income Surplus on disposal of fixed assets/ covenant 179,378 200,598 133,345 1285510 216.571 56,656 395,949 257,254 133,345 T¢)tsl Incomo Expendlture Costs of raising funds Charitable activities 18 54,345 54.345 Totsl expendhure Net Income and net movement In funds b•for• galns and lossrf on Inveslments Gainsllosses on investments Reali5ed Unrealised 1,138,032 117,796 1,255,828 Net Income and net movernwrt in funds before transfers Transfers between funds 675,307 117,796 793,103 12 Net Income and net movemwrt In funds for the year 746,646 46,457 793,103 R•conclllatlon of funds Total funds brought lo￿ard Totsl funds aThl•d fornard 25 OXFORD PRESERVATION TRUST Comyny ntt 225839 BALANCE SHEEr AS AT 31 DECEMBER 2023 Not• 2023 2022 FIXED ASSETS Tangible assets Heritage a55ets Investments 1,8¢)0,333 1,404,497 1,807,595 1,404,497 6,979,681 6,844,241 CURRENT ASSETS Debtor5 Cash at bank and in hand 118,429 61,453 1,003.277 1,405,918 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 10 NET CURRENT ASS￿5 1292428 NET ASs￿s FUNDS OF THE CHARITY Designated funds (fixed assets) Designated funds Iprojects) General funds 6.679,681 894.890 6.544,241 956,314 Total unre5trirted thJnds Restricted funds 13 12 7,592,155 212438 7,932,513 The note5 on pages 28 to 41 form part of these accounts. These accounts were approved and authorised for issue by the Trustees on 5 June 2024 REVEREND PROFESSOR WILUAM wH￿E MR PHILIP PARKER 26 OXFORD PRESERVATION TRUST STATEMÉNT OF CASHFLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Cash (used in) / provided by.operating •rtivities 15 Cash flow from InV￿Ing •¢tivilies Investment income Proceeds from sale of tangible fixed assets Purchase of tangible fixed/heritage assets Cash us•d In Investing artlvities 131,965 133,345 1,285,510 130873 (De(￿ase)11nCreose in cash in the year Cash and cash equivalent5 at the beginnin9 of the year Total cash and cash equlvalents at the end of th? year 27 OXFORD PRESERVATION TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES The following accounting policies have been used consistently in dealing with material aspects of the Twst's accoun a) Ba515 of pre￿ration The financial statements have been prepared in accordance wtth 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 1021,- (Charitie5 SORP (FRS 1021), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2￿6. Oxford Preservation Trust meets the definition of a public entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value Wbth the exception that investments are included at market value. b) Preparailon of the accounts on a golng concern basls There is no material uncertainty about the charitys ability to continue as a going concem. This is based on the charitys recurring income from properties and investments which are low risk and which are sufficient to fund the activities of the charity for the foreseeable future. c} Income All income is recognised once the charity ha5 entitlement to the income, it is certain that the income will be receNed and the monetary value of income can be measured with sufficient reliability. All income is net of VAT. Gifts in kind are included at a valuation provided by Oxford Preservation Trusfs land agents and are included in the accounts when the gift ha5 been received by the charity. Interest on funds held on deposit Is included when receivable and the amount can be measured reliabty by the charity, this is nomially upon notrfication of the Inte￿51 paid or payable by the bank. Dividends are recognised onceihe dividend ha5 been deCla￿d and notificatron has been received of the dividend due. d) Expendltufe abilities are recognised a5 expenditure as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure 15 accounted for on an accrua15 basi5 and has been classified under headings that aggregate all costs related to the category. Salaries and office c05t5 have been apportioned bety4een Charitable activilie5 based on indwidual ￿aff time spent on each activity- Grants are intluded in the Statement of Financial Activities when they are approved and this has been Communicated to the beneficiaries. Irrecoverable VAT is charged against the category of resources expended for which it was incurred. 28 •) Pen5ton costs The pension costs charged in the accounts represent the contributiorfi payable by the charity during the year. fj FIX￿ asséts (il Furniture. equlpment and computers Depreciation is calculated using the following rates and bases to write off the cost of r￿ed assets over their expected useful lives. Fumiture and equipment Computers Database 15% reducing balance 20% on cost 20% on cost ii) H•ritsge ass•ts Assets held for their contribution to knowledge and culture are classed as heritage assets and included at COsL The Trust has a large number of land and buildings that make up its heritage asse￿ These are included at C05t or deemed value at date of acquisition. These are managed and prese￿ed and public access is permitted. (iii) Land and properties The freehold land and properties are stated at their value to the tharity- This is detemiined at the date of acquisition. The land and properties are acquired in lurtherance of the charitable objectwes of the Trust and there ￿ no intention that they will be sold in the foreseeable futuie. In the opinion of the trustees there is no useful purpose in re-valuing the asset& Freehold land is not depreciated. Depreciation is not provided on freehold buildings on the basis that the expected useful life of the buildings is such as to make any depreciation charge immaterial. It is the Trust's policy to preserve these properties in their current corKlition for the fo￿eeable future. Income is generated from the properties and is reflected in the statement of financial activitie5. Specific property improvements are a150 capitslised. These improvements are being depreciated over 25 years. g) Fixed asset investments Investments a￿ ststed at market value as at the balance Sheet date. The statement of financial activitie5 includes the net gain5 and1055es arising on revaluation and disposa15 throughout the year. h) Fund accounting Restricted funds are funds which are to be used in accordance with specthc restrictions imposed by the donor5 or which have been raised by the charity for particular purpose5. The aim and use of eath restricted fund is set out in.the wtes to the accounts. UnrestricEed fvnds are available for Use at the discretion of the trustees in furtherance of the general objects of the charity. Desigr¢ated funds comprise unrestricted funds that have been set aside bythe Trustees for particular puiposes. The aim and use of each designated fund is set out in the note5 to the account& 29 l) Cre I15,￿￿ 1,132 2,077 1,132 2,077 1.954 (4,554) 12,6001 8,458 (8,458) 350 1.000 (751 275 1,0 25 37 Comparatives: Balance at 1 Jan 2022 In¢om• Exp•ndlture In year In y￿r Trnnsfers Balance at31 D¢c 2022 Harcourt Hill Rewley Road Swing Bridge Martyrs Memorial Oxford Castle OxFord Land Fund Oxford Open Doors Railings Project John Thompson Legacy Painted Room. Trust for Oxford Environment Kennington Memorial Field lffley Bursary 25,070 {1,102) 23,968 16,915 1,182 102,111 8286 153.018 164,2341 105,699 1,182 69248 (s￿) 3&002 61553 15,750 168,8651 (71,339) 115,750} 1,132 2,077 1,132 1077 {499) 14,4051 425 175) 350 1,000 Bursary- A fund to support a Historic Conservation student from Oxford Brookes Universty in working with the Trust. Paid through general funds in 2023. Centenary Fund- A fund started in 2023 to enable projects to mark the Centenary of the Trust in 2027. Harcourt Hill -management of 19 Kre field at Harcourt Hill. lffley- for the Te5toration of a wall at Glebe Field. lffley. John Thompson legacy- legacy receipt for planting of trees in central Oxford. Kennington Memorial Field-funds received for maintenance and public acces& Matyrs. Memorial- maintenance of the Martyrs. Memorral, St Giles. Oxford Castle - rental and other income which, under the tenms of the agreement with the National Heritsge Memorial Fund, is u5e(I for the benefit of Oxford Castle. Oxford ca￿le CIF- A proportbon of the rent to be spent on capitsl expenditure at the Castle wth matched funding from Continuum. Oxford Land Fund - for the purchase and improvemeni of land, used in 2022 for the purchase of Larkins Lane. Oxford Open Doors- encouraging young people and residents to explore their city's history. Painted Room funding towards costs of restoration of wall paintings, ￿search, occupation and improvement of the premise& Pailings Project- project to restore traditional railings. Rewley Road Swing Bridge- in furtherance of the re51oration and landscaping projert Trust for Oxford Environment grant funding for sustainability, access and biodiversty projert5 in Oxfordshir 38 13 UNRESTRicfED FUNDS Balance at 1 Jan 2023 Income Expendlture Transfers in yèar in year r•valuatlon galns Balance at 31 Dec 2023 Deslgnated Funds Tangible and Heritsge f￿ed assets Fixed asset investments Lord's Farm The William Delafield Charitable Trust Land purchase fund Land management fund Flood Alleviation Scheme Planning Rewley Road Swing Bridge Larkins Lane Harcourt Hill 11 Web5ite/CRM Education and Outreach 3.212,092 (7,2621 3.204,830 3,332.149 478,478 142,702 3,474,851 454,578 123,9(KJ) 41,444 70,572 163,222) 48,795 101,637 171318} 1330,5391 149,2271 29,319 29,461 773 39,755 9,048 16,072 17,537 249 552 360,1)00 39,755 20,COJ 25,CrfXI 200 111.1521 18.9281 112,4631 30,1 Totsl designated funds 7,500,555 70,772 1579,4581 582,702 7,574,571 General Funds 515868 Cornparatives.. Balance at 1 Jan 2022 Income Expendhure Transfers & In year in yHr rwaluation galns Balance at31De 2022 Desigrbated Funds Tangible and Heritage fixed a55ets Fixed asset investments Lord's Farm The William Delafield Charitable Trust Land purchase fund Land management fund Flood Alleviation Scheme Planning Rewley Road SWIFYJ Bridge Larkins Lane Harcourt Hill11 Education and Outreach 1727.477 [7.268) 491.883 3,212,092 3,817,811 128.478 1485,6621 350.C%)O 3,332,149 478.478 72.244 121.059 101,637 37,000 167.8001 41,444 (121.059) 101.637 {26.1501 P7,3151 23,606 27,315 39,755 39,755 20,000 25,000 20,CK(J 25,CKKI 250 Total designated funds 7,011,￿5 37,OC(I 1128,533) 581,083 7.StJ),555 General Funds Totals 39 Tangible r￿ed assets represent the tharitys tar4Jible fixed assets and heritage assets including land and property. Fixed asset investments represent the Charity5 fixed asset irwestment5 net of amounts within other designated fijnds, Lord's Farm represents the proceeds from the sale.of cottages at Eynsham and has been designated for the benefit of the Trusts. land and properties, to indude necessary works to Lord's Fami. A furttr*r £350.CIJO was been added in 2022 to fund the redevelopment of the barn. The William Delafield Charitable Tnjst represents donations which the Trustees are to use for specific costs at their discretion. The fund contributed towards works done to the Painted ROO￿ Eart St Helen Street, Lord's Farm and some minor projects. Rewley Road Swing Bridge includes a Sum of £50,OC(J set aside by the Trustees in 201 I towards the restoration of the Swing Bridge, less expenses incurred to date. Land Purchase Fund was set up to fund land purchase and is similar to the restricted Oxford Land Fund. It has been used in 2022 to contribute towards the purchase of Larkins Lane. Land Management Fund is to be spent on improvements of existing land holdings at the discretion of the Green Spaces Committee. Includes a donation from the West Oxford Wildlrfe Group which is to be spent on our land at north Hinksey. Flood Alleviation Scheme manage5 funds Used by the Trust to engage with the Environment AgencYs scheme to develop a flood alleviation channel which passes through Trust land. Planning was set up by the Trustees to fund additional expenditure arising from the number of planning enquiries and issue5. Larkins Lane fund is for the futu￿ management of this property acquired in 2022. Harcourt Hill 11 fund is for the future man&3ement of this propety acquired in 2022. WebsitelCRM is to be spent on redeveloping our website and customer relationship management system. Education and Outreach is to fund a comm¥Jnty engagement programme from 2023 to 2027. 14 LEGAL FORM It MEMBERSHIP LIABIUTY Oxford Preservation Trust is a charitable company limited by guarantee incorporated in En9land Wales. In accordan￿ with Clau5e181 of the Company's Memorandum of Association, every member of the Trust undertakes to contribute to the assets of the Trust in the evenl of the same being wound up during the time that he is a member, or wthin one year afterwards for payment of debts and liabilities of the Trust contracted before the time at which he ceases to be a member, and of the costs, charges and expenses of winding up the same, and for the adjustment of the right5 of the contributories, such amount as may be required not exceeding frfty pence. The registered address is 10 Tum Again Lane, St Ebbe'5, Oxford OX11QL. 15 RECONCILIATION OF NET MOVEMETrrrs IN FUNDS TO NEr CASH FLOW FROM OPERATING ACTIVITIES 2023 2022 Net movement in.funds Add back depreciation Add fixed ?5sets di5PQ5ed of net of depreciation Deduct surplus on disposal of fixed assets Deduct investment income in investing artivities Ilncreasel/Decrease in debtors Increase/lDecreasel in creditors (Deduct gainsl/Add losses on investments Add back investment management costs 1332,076) 7,247 1,107 793,103 7,952 2.393 (1,285,510) 1133,3441 13,2341 31,764 462,725 1131,965) (56,976) 64,876 {151.301) Cash provided (used inl / by operating actNitses 16 CAPITAL COMMITMENTS The charity had capital commitments at the year end of £Nil12022'. £Nil). 17 RELATED PARTY TrANSAcfioNS Donations from related partie5 totalled £3.03012022= £nill from trustees and a charity with a mutual trustee {2022: £Nill. 18 cosrs OF RAISING FUNDS This includes £8,599 of investment management costs12022- £22,937). 41 knoknl•dgwnents The Trust gratefully acknowledges grants donations sponsotship and gifts in kind to the value of £1.000 or more from the following individual4 trusts and organi5ations'. All Souls College Balliol College Bamsbury Charitsble Tnjst Dr Aeron Buchanan Carter Jonas David & Genefer Clark Council of Europe Critchleys Continuum Group Eyre Eslate Dr Michael Heaton The Laing Family Charitsble Settlement Mathew5 Comfort Insurance Brokers Minns Estates Ltd Oxford Bus Company Railway Heritage Trust Sandford-On-Thames Parish Council .Trust for Oxfordshire's Environment University of Oxford William Delafield Charitsble Trust We wish to thank those who have made grants, donations, sponsorship and gifts in kind to the value 01 £100 or more from the following individuals, tnjsts and organisations: Sarah Ainsworth Donald Ande￿on Sandy Arbuthnot John Ashdown Dr Norma Aubertin-Potter Sir Jonathan Baker Mark Beard Dr Sarah Beaver Prof Bryan Birch Sheila Blackwell Lord 8radshaw Richard Briant Her Honour Ann Campbell Christ Church John Church David Coleman Paul Collins Antonya Cooper Joy Crispin Wilson The Critchley Charitsble Trust Joanna Davidson Richard Dick Anita Eaton Dr Fiona Edwards Marieanne Emmett Rob Gelling Dr Malcolm Graham Green Tenlpleton College Oliver Greig Gresswell Environment Trust Tom Hassall Lucy Hughes The Lord Jay of Ewelme John Leighfield Jeny Lewin Ciaran Mallon Frank Marshall Tim Martin Prof Richard Mayou Merton College Gavin Moodie Alison Myres Briony Newport Noel Newson Oxford City Council Oxfordshire County Council Jean Phillips leslate ofj Caroline Pond Christopher Powr￿lI Cllr Susanna Pre55el Sidleys Chartered Surveyor5 Sir Tim Stevenson David 5treat Robert Townsend Prof Graham Upton Richard Venables Prof Heather Viles Piof David Warrell Dr Trudy Watt Charles Webster Janice Wheeler Pat Whitehouse Daniel Wickham-jones Wright & Wright Architects Together with those donors who wish io remain anonymous. We also thank those who support our activities a¥. College Members All Souls College Brasenose College Magdalen College Pembroke College St John's College Univetsity Collegè Corporate MemberJ Beard Oxford Benfield & Loxley Berrys Bidwells Blake Morgan Burke Hurrter Adams CarteT Jonas LLP Continuum Group Corefiling Kingerlee Ltd tchen Architerture Ltd Lucy Group Ltd Magdalen College School Malmai50n Trading Ltd Mathews Comfort Insurance Brokers Mills & Reeve LLP Minns Eststes Ltd Pye Charitable Settlement Radley College The Randolph Hotel Rrdge & Partners LLP Robins Swailes Design & Development Savills SavvyGroup Sidleys Chartered SuNeyors EkE Critchleys LLP Edgars Ltd Fathom Architects Feltham Construction Ltd Fjmtstudio Freeth5 Greenford Ltd Greenwood Projerts Ltd Grosvenor Developments Ltd Holyb¥ell Press Ltd Olamalu Spom Construction Ltd Original Field of Architecture L"td Stuart Barr CDR Oxford Archttects LLP T W jo￿5 Propety Ltd Oxford Bu5 Company To%￿e Spurring Hardy Lld Oxford North Ventures GB LLP W G Carter Ltd Oxford University Development West & West Ltd Ltd Woolridge & Simp50n Penwarden Hale Architects Ioxford) Ltd PSP Construction Consultants Wright & Wright Architects Purcell Betjeman Clrcle {Patrons} Philip Allen Sandy & Sue Arbuthnot Alexander & Hannah Armstrong Sir Jonathan & Lady Baker Mark Beard Peter Bennett-Jone5 Danby & Sandy Bloch Her Honour Ann Campbell & His Honour Quentin Campbell John & Joanna Church David Coleman Charles & Gisela Cooper Stephen Dance Joanna Davidson Richard & Felicty Dick Dame Helen Ghosh David & Jane Gye Nigel & Griselda Hamway Dr Michael Heaton Lord & Lady Jay of Ewelme Chris Jones & Sara Everett lan &.Careline Laing James & Jan Lawrie John & Margaret Leighfield Trefor & the late Heather Lleweltyn Tim Martin Dr Robert & Dr Rebecca Mather Prof Richard Mayou Lord Mendoza Araminta Morris James & Susan Offen Tom Peers Rupert & Amanda Ponsonby Steven & Jo Sensecall Sir Tom a Lady Shebbeare Andrew & Judy Silver Sir Tim Steven50n Bernard & Sarah Taylor Dr Kate Tiller Professor Graham Upton Bebe Speed Cllr Louise Upton Richard & Kate Venables We are also grateful to all those have let us know of their generosty in leavtng the Trust a gfft in their Will and to all those who have made contribthions in so mary ways financial, volunteering and general support 43