Charlty registratSon number: 220842 Company registration number: 628535 House of St Gregory and St Macrina Oxford Llmlted (The) Annual Report and Unaudited Financial Statements for the year ended 30th Juna 2024 Wenn Townsend Chartered Accountants Oxford House of St Gregory and St Macrina Oxford Limited (The) Legal and Admlnlstratlye Infomiatlon Trust8es M¥ P Atzemoglou Dr S Bhattacharii Prof Sir M Evans OBE Prof P Francois The Very Revd Dr l Graham Mr K M S Alton Honeywell (Chairl Prof A Linga$ Mr O'mahony The Very Revd S Platt Mr J C Townson (Hon TreasL>rerl Mr T Sl J Whf(e Charity numbor 220842 Company number 628535 Registered office 1 Canterbury Road Oxford OX2 6LU Independent examlner B Hayes Bsc FCA Wenn Townsend 30 St Giles Oxford OX13LE House of St Gregory and St Macrfna Oxford Llmited IThe) Contents Page Trustees, report It)dependenl examinerfs report Slalemenl of financial activities Balance sheet Notes lo the financial slalements 9-19 House of St Gregory and St Macrina Oxford Llmlted (The) Tru8tee$' Report (Including DIr￿t01$, Report) for the year ended 30th June 2024 Thetrustees present theirannual report and financial statements forlhe year ended 301h June 2024. The trustees have adopted the provisions of the Statement of Recommended Practice ISORP} 'Accounting and Reporting by Charities. in preparing the annual report and financlal statements of the charity- House of St Gregory and St Macrsna Oxford Limi(ed (The) (the House) is a limited company {regislered number 628535 and registered charity number 2208421. At the House's Annual General Meeting on 16th November 2023, Dr Sanlha Bhattacharji was elected lo the Council. In addition, Prof. Alexander Lingas and Mr Torsten While were re*lecled, bein9 Ihe longest serving members of Couneil. The Chair is Mr Seraphim Alton Honeywell. The Company Secretary is Ms Rebecca W71ile. The registered office is at 1 Canterbury Road, Oxford. OX2 6LU. The Bankers are Lloyds Bank pk, Oxford 8ranch, Carfax, Oxford. OX14AA. The Independent Examiners are Wenn Townsend, 30 St Giles, Oxford, OXI 3LE. The Warden is Ms Rebecca While. Objectives and a¢tivitles The House was established in 1959 to promote the advan￿ment of the Christian religion,. lo pray lor the reunion of ChTislendom', and to promote mutual understanding between members ofthe Anglican Communion and of the Eastern Orthodox Church as well as those of other churches. and to provide a place of residence for such members when required. In furtherance of these aims the House is run as an Ecumenical House for students and scholars and a centre ol studies for Orthodoxy and Christian unity, managed by a resident warden. In pursuing its aims the House seek5 to fulfil the rgquiremenls of the Charities Act 2006 (section 41 lo have due regard lo public benefit. The House compnses fvKJ houses, St Gregory's {1 Canterbury Road) and Sl Macrina's183 Banbury Road) which are physically joined and run as a unil. The Orthodox chtjrch of the Holy Trinty and the Annunciation is in the garden and the House is also used for gatherings of the Orthodox parishes. There is a small library. rich in materials relating lo the Churth of the first six centuries and beyond, wh￿h is open lo the public by appoinlmenl. The Fellowship of Sl Alban and Sl Sergius is also based al the House. The library of the Fellowship is run in njunction with the library of the House and the Librafian is Ms Rebecca While. As a residence for students and scholars tho House provides accommodation lo students coming from diverse reltgious and ethnic background. The House does not restrict accommodation to students of a particular university or studying a particular subject. The House has unique resources fof scholarship. The library has an archive and a specialised collection of texis and joumals, many of which are not available elsewhere in Oxford. Th¢ library is open lo the public and its use is free of charge. The House provides space for the activities of tho Orthodox Church in Oxford. The OrthcKlox Chuich of the Holy Trinity and the Annunciation is built on land belonging lo the House, and ils parishes use the House and garden for feasts, parish meetings. and discussion groups. The House is available lo individual members oflhe Orthodox parishes lo use for the marking ol baptisms, weddings and funerals. 11 is also used by the Orthodox Sludenl Society for social and educational functions and for committee meetings ofgroups like the Friends ofmounl Athos and the Ecumenical Marian Pilgrimage Trust. As an ecumenical study cenlre. the House provides a meeting place for groups interested in Christian unity. These meetings are open lo the general public. Seminars and classes for students aTe hekl in the House in areas compatible with the House's aims. House of St Gregory and St Macrina Oxford Llmlted IThe) Trustegs. Report lincludlng Directors. Report) {continuod) for the year ended 30th June 2024 The House, from ils Zemov-Carra$ Scholarship Fund, offers small giants each year for research wrposes in the area of theology and ecumenisrn. 11 also participates in a schoLgrship scheme which aims to foster theological exchange beiween West and East, supporting educational development in the area of religion and society and vthen possible by offering students from Eastern Europe and the former Soviet Union the opportunity Io c8rry out theological resear¢h in Oxford. Public benefit statement The trustees have complied wrfih their duty to have duo regard lo the guidance on public benefit publ&shed by the Chartty CoMmiss￿n in exercising their powers or dutles. Achievements and performance The Council actively encourages and welcomes aetivilies which are in accordance with the aims of the House and for the public benefit. The most visible aspects ol the life of the House are the prowsion of aceommodalion for students and scholars and the extensive use of the meeting room by the Orthodox parishes and other groups. In addition the House is centre for the study of Orthodoxy and Christian ecymenism. This year the House continued lo provide accommodation for both graduate and ¥Jndergraduate students. Residettts orioinaled from Austria, Gemiany, Gieece, Pakistan. Turkmenislan, the U.K. and U.S.A. and included Christians of East and West, as well as those of other religious traditions or none. this year including Hindu, Jewish and Muslim students. Their fesearch or study areas ranged widely, and included theology, late antique and byzantine studies. art history, ethnography. Islamic art and aichitecture. ottoman history. musi¢, philosophy, physics, tibetan studies, $inolcgy, and education. In addition to ils close relationship with the Orthodox parishes, governed by a separate Deed ol Trust, the House works infomally with other groups. The Council is pursuing several inilialives in order lo meet the ecumen1￿1 aims of the House oven more effectively. Building on already existing connections, the House is aclively10gking al way5 in which lo co-operate more closely with the Fellowship of Sl Alban and Sl Sergius IFSASSI. whose office 15 al present situated in the House, and with ils s151er foundation. the Sl Theosevia Centre for Christian Spiri11181ty al 2 Canterbury Road, next door. A Working group with representation from all three charities has been sel up lo expksre SLs¢h co- operation with a view lo expanding and enhancing their common work in furthering understanding btheen Christians of different Iradilions, through academic research and peTsonal encounter. Represenlatwes of the three eharilies continue lo meet and lo explore closer. active co-operation. The FSASS has similar aims, also existing to promote understanding between Christians of East and West, and any joint activities reflect efforts to co-operate Areas of collaboration include.. support of the Oxford Theological Exchange Programme {the FSASS provides an annual grant lo support the programmel, joint organisalion ol meetings of the Oxford Branch of the Fellowship of St Alban and St Sergius, the running of an amalgamated library, use of the House by the Fellowship for its events. an annual lecture held in memory of Nicolas Zernov and jointly hosted. as well as other occasional projects and social events. The FSASS also runs ils own annual conference elsewhefe in Oxford. The St Theosevia Centre for Christian Spiri(uality has lemily study days. In May the three charities hosted the Zernov Lecture. Forthe second year running this event was held in associ*ion with the Maison FranGaise d'oxford IMFOI, where the lecture and cheese and wine reception that followed il took pLace. The lecture was given by Dr Sebastian Brock on The Ecumenical Journey of the Writings ol Sl Isaac the Syrian,, tracing the remarkable lrfe of the texts of this sevenlhqcenlury author as they travelled through different traditions Ltp lo the present day. The library, as a joint concern of the House and the Fellowship, has its own library committee and is working on way5 to make the library holdings more accessible to Teaders. The library committee membership includes representation from all three charities, as some ofthe amalgamated library is physically housed in Sl Theosevia's, which is also home lo a separate and significant archive. The House and the FSASS have their own archival material. Work still needs lo be done lo conserve and manage these archives and the library c0mmrtl￿Con1lnUes lo work on a memorandum of understanding to clarfy the relationship befvleen the drfferenl parts of the library and the principles of use, management and care. House of St Gregory and St Macrlna Oxford Limited IThe) Trustees. Report {includlng Dir¢ctors' Report) (Con￿nued} for the year ended 30th June 2024 The Oxford Theological Exchange Prffjramme (OTEPI was established after the fall of Communism lo provide opportunities for scholars from the countries of the former Soviet Union and Eastern Europe lo carry out research in Oxford under the aegis of the Faculty of Theology and Religion of Oxford University for up lo one year. The Warden of the House, as a research associate ollhe Oxfor(I Centre for Religion and Culture {OCRCI at Regent's Park College, is responsible for administering the programme. There has been a hiatus in offering scholarship lo indivtduals, but the programme continues ils activities within the College research environment. There have over the year also been several short research visits lo the House by previous OTEP scholars. The need lo further theological undeislanding in a region in which religion is currently being inslrumenlalised for war seems urgent and building personal relalDns across traditions an essential aspect of the effort needed lo work for peace. We hope cir¢umstsnces will allow us lo offer the scholarship again soon, as supporting theological research and researchers in this way conlribules lo keeping open channels olcommunulion be￿een Christians of East and Wesl in an increasingly polarised religious landscape. In partnership with FSCIRE Ifondazione per le scienze religiosel in Bologna, the House was involved, along with Regent's Park College and the MFO, in the organisalion of a major. inlemalional conference on the Council of Ni¢aea held in Oxtord overlwo days in December, underlhe heading".'The NI￿ne and Nicene-constsntinopolilati Creeds". Tensions, Rapprochements. Effects,. significantly pulling the creed as symbol in ecumenical perspective. The scholarly papers explored a range of historical and eonlemporary effects and resonances of the NicenelNicene-Conslanlinopoltt8n creeds in a range of Christian traditions, including fo¥ instance Syriac. Amienian. ninlh-eenlury Rome an(t Byzantium. and twenlielh-cenlury Russian sophiological thought. There was a strong Orthodox presence al the conference. with starting addresses given by Archbishop Nikitas of Thyateira and Great Britain and Archbishop Angaelos of the Coptic Orthodox Church. The closing address was given by Professor Alberto Melloni. Director of FSCIRE and UNESCO Chair of Religious Pluralism and Peace, who looked ahead to the anniversary of the Council of Nicaea in 2025 and set the event in the context of a series ol conferences. the first of which had been held the previous year in Istanbul in the presence of the Patriarch of Conslanlinople. The House aims lo foster exchange between Christians of East or Wesl through academic reSea￿h on the Chrislran Iraancial controls. To manage non-finan¢ial risks, the HoLtse has robust policies in place, awareness training for staff and provision of external onsuttancy on mallers of health and safety. In the long term, the Council is aware that a much larger reserve fund needs lo be built up to meet contingencies, for the enhancement of the House and the extension of ils work, and the trustees have agreed an aspirational target of a £10,000 surplus each year until reserve fund levels are reached. House of St Gr9gory and St Macrina Oxford Llmiled (The) Trustees. Report {including DirKtorn' Roportl (continued) for the year ended 30th June 2024 Structure. governance and management House ol Sl Gregory and Sl Macrina Oxford Limited (The) is consliluled by memorandum and articles of association, incorporated in 1959, and governed, and its affairs administered, by a Council subject lo the articles of association. There are some thirty members of the Association of the House of Sl Gregory and Sl Macrina including Presidents, Vico-PTe5idenls and Council Members. Members of the Council115 maximLtrm} are elected by the Asstxialion al the Annual General Meeting. Not more than 10 additional members may be co-opted by the Council from time lo lime al the first meeting after the AGM. Such members are subject lo re-appointment by the Council each year. There is no fixed period ol office for full Council members., each year the two longest serving members retire and are immediately eligible for re-election. New members are nominaled through the Council for election al the Annual General Meeting. Council members are chosen lo reflect the ecumenical nature of the Association and sts commitment lo the purposes for which r( was sel up. conS￿eration is also given lo achieving a balance of experience necessary for the effective goveman¢e of the Assoeialion and the House. New and prospective member5 of the Council are invrted to visit the House and can consult the Warden about aspects with which they are not familiar. Members of the Council are also invited to the lemily srxial events lo which residents and other interested persons are also invited. A￿hOUgh no special policies have been adopted for the induction and training of Council members, 8112re aware of their duties and obligaltrons towards the maintenance of the Charity and the protection of ils assets. On election Council members are provided with documentation relevant lo their role as a Iru51ee and in relation lo their role in the governance ofthe House. Tru51ees are also encouraged to allend appr¢)priale training events where these will faciif(ate the undertaking of their role. The Council Members for the year ended 30th June 2024 were.. Mr P Atzemoglou Dr S Bhattachaiii18ppoinled November 2023) Prof Sir M Evans OBE Prof P Francois The Very Revd Dr l Graham Mr K M S Alton HOne￿ell IAcling Chair) Prof A Lingas Mr O'mahony The Very Revd S Platt Mr J C Townson (Hon TreaSu￿r) Mr T Sl J While This report has been prepared having taken advantage of the small companies exemption in the Companies Act 2006. Foi and on behalf of the Council Mr K M S Alton Honeywel Trustee halr) 14th November 2024 Independent Examlner's Report to the Trustees of House of St Gregory and St Macrina Oxford Llmlted (The) I report to the trustees on my examination of the financial slalements of House of Sl Gregory and St Macrina Oxford Limited (The) {Ihe Charilyl for the year ended 30th June 2024. whi¢h are set out on pa9e$ 710 19. Responslbllltleg and basls of report As the trustees of the charity land also ils directors for the purposes of company lawl you are reS￿nsIble for the preparation oflhe financial slalemenls in accordance with the requirements oflhe Companies Act 200S Ilhe 2006 Aet). Having satisfied mysetf that the financial statements ol the charity are not reqUI￿d to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respeel of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011 {the 2011 Adl. In carrying out my examinalBJn I have followed the Directions given by the Charity Commission under section 145{51{bl of the 2011 Act. Independent oxamlnerf$ ststement I have completed my examination. I contirm that no mallers have ctyne to my attention in connection with the examination giving me cause lo believe that in any maleiial respect.. accounting fe¢ords were not kept in respect of the charity as required by section 386 of the 2006 Act., or the financial statements do not accord with Ihose records.. or the financial slalements do not ￿mplY with the accounting requirements of section 396 oflhe 2006 Act other than any requirement that the accounts give a true and fair view which is not a maller considered as part of an independent examination.. or the financial slalemenls have not been p￿pared in accordance with the methods and principles of the Slalemenl of Re¢ommended Practice for accounting and reporting by charities applicab￿ lo ch2rilie8 preparing their accounts in accordance with the Finaneial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no coneerns and have come across no other mallers in connection wrth the examination lo which attentM)n should be drawn in this report in order lo enable a proper understanding of the financial Statements to be reached. Benjamin Hayes Bsc FCA Wenn Townsend 30 St Glles Oxford OX13LE 14th November 2024 fo (o <0 ro ro o) o a) J v) (W fo ioowj r4* House of St Gregory and Si Macrlna Oxford Limlted (The) Balance Sheet as at 30th June 2024 2024 2023 Notes Fixed assets Tangible assets Investments 13 14 51,016 178,224 57,690 155,265 Current as$ets Debtors Cash al bank and In hand 229,240 216.955 15 6.109 48,274 1,718 46,840 Creditors.. amounts falling due withln on¢ year 54,383 48,558 16 19.687) 110.2701 Net current assets 44,696 38,288 Total as$ets1gss current Ilabilities 273.936 255,243 Credltors.. amounts falling due after more than one year 17 (25,000} 125,000} Net assets 248,936 230,243 Income funds Restricted funds Unrestricted funds 18 19 Designated General 69,515 132,840 46.581 63,934 120,161 46,148 179.421 166,309 248,936 230.243 The C￿7panY is entitled lo the exemption from the audit requirements conlained in section 477 oflhe CompanÈs Act 201%, forthe year ended 30th Jurte 2024. The directors acknowledge their responsibilib'es for comptying the requirements of the Companies Act 20LE with respect to accounting records and the PreParat￿n of financial statements. The members have not required the company lo obtain an audit of its financial statements for the year in queslron in accordancg with section 476. These financial statements have been prepared in a¢cordance with the provisions applicable lo companies subject to the small C¢)mpanYès ￿gi￿e. The financial slalements were approved by the ITuslees on 14th November 2024. Mr K M S Alton Honeywe Trustee hair) Company feglstration number 628535 House of St Gregory and St Macrfna Oxford Limlted IThe) Notes to the Financlal Statements for the year ended 30th June 2024 Accounting policies Charlty Infonnation House of St Gregcry and Sl Macrina Oxford Ltmiled (The) is a privae company Ilmited by guaranteè inccKporaled in England and Wales. The registered 0f￿e is 1 Canterbury Road, Oxford, OX2 6LU. Accounting convention The charity conslilLrtes a public benefit entity as defined by FRS 102. The financial statements have beon prepared in aceordance with Accounting and Reporting by Charities". Statement ol Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard appI￿able tn the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the Unrted Kingdom and Republic of Ifeland IFRS 102), the Charrtw Acl 2011, the Companies Act 20(E and UK Generally Accepted AccounliThJ Practice. The charity has tsken advants9e of the provisions in the SORP for charities not lo prepare a Stslemenl of Cash Flows. The linancial stslemenls are prepared in sterfiro, which is the funckn'onal currency of the charity. Monetary amc￿nIS in these financial slal¢ments arg rourKted to the nearest £. The financial slalemenls have been prepared underlhe historical cost convention, modffted lo include eertain financial instruments at fair value. The principal accountr.ng policies adopted are set out bebw. Going concem Al the time of approvtng the financial statements. the trustees have a reasonable expeclalDn that the charity has adequate resources lo continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concem basis of accounting in preparing the financial slatemenls. Charltable funds Unrestricted f4Jnds are avaikgble for use at the diSCret￿n of the l¥uslees in furtherance of Iha'r charitabie objectives. Designated funds comprise funds which have been sel aside at the discretion of the Iruslees for specif purposes. The purposes and uses of the designated funds are set out in the notes tolhe financial statements. Reslricled funds are subject to speciffc conditions by donors as lo how they may be used. The purposes and uses of the reslricled furKls are set out in the notes to the finarFcial statements. Income recognition AJI incoming resources are included in the Statement of Financial Aetivilies {SoFAI when the charity is legally entitled lo the income afterany performance conditions have been mel, the amountcan be measured reliably and (( is probable that Ihe income will be receNed. For donatic￿$ lo be recognised the charity wtll have been notifpd of the arTh)unls and the settlement dale in writing. If there are ¢onditions attached lo the donation and this requires a level of perfomance before entillemenl can be obtained then income is deferred until those condrtions are fully met or the fuwilmenl of those ¢ondf(ions is within the eonlrol of the tharty and il is wobable that they will be fuffilled. House of St Gregory and St Ma¢rina Oxford Llmited (The) Notes to the Financlal Statgments {continued) for the year ended 30th June 2024 Accounting polic￿$ (continued) 1A Income recognition Icontlnuedl Donated facilities and donated profess￿nal serv1￿$ are recognised in ineome al their fair value when their economic benefrt is probable, rt Can be measured reliably and the charity has control overthe rtem. Fairvalue determined on the basis of the value of the gift lo the charity. For example, the amount the charity would be willing to pay in the open market for such facilities and Serv￿e5. A corresponding an￿Unt is recogniseAI in expendfture. No amount is included in the finanaal stslements for volLtnteer time in line with the SORP. Further detail gwen in the Trustees, Annual Roport. For legaeies, enlillemenl is the earl￿r of the charity being notrfTed of an impending distribution or the legacy being received. At this point income is recognised. On occasion *a¢ies will be nolrfigj to the chanty however il is not possible lo measure the amount expected lo be distribut￿. On these cKc85ions. the le￿Y is Irealed as a conlingenl asset and d￿clOsed. Investment income is e8rned through hdding assets for investment purposes such as Sha￿ and propety. It includes dividends, interest and rent. It is included when the amount can be measured reliabty. and is recognised as the charity's Ttqhl lo receive payment is established. Expendhure recognitlon Expenditure is recognised once there is a legal or conslnJdDie oblvJalion lo transfer economic benefrt to a third party, il is probable that a transfer of economic benefrts wll be required in settlement. and the amount of the obligation can be measured reliably. Tangible fixed assets Tangible fixed assets are initsalty measured al cost arKI subsequently measured al cost or valuation. net of depreciation and any imp8irmenl105ses. DeprecBtion is recognised so as to write off the cost or Valuati￿ of assets less their residual values over their ijseful lives on the followin9 ba5es.' Freehold buildings Fixtures and frttings Boilers 20A straight line 15¥0 reducing baLince 6.670A Straight line115 years) The gain or lossarising on Ihedisposal ofan asset is delemiined asthe differen￿ between Ihesale pr¢xeeds and the cairying value of the asset, and is recognised in the statement of financial a¢tWit￿5. Fixed asset investments Fixed asset investments are inf(k7lly measured at transaction prtce excluding IransactDn costs. and ale subsequently measL*red al fair value al each reporting dale. Changes in fair value are recognised in net inc0mellexpendrtu￿) for the year. Transaction eosls are expensed as incurred. Debtors and creditors recelvable I payable withln one year Debtors and creditors with no slated inleresl rale and recervable or payable wfthin one year are recorded 81 transaction price. Any losses arising from impaimenl are reeognised in expenditure. -10- House of St Gregory and St Macrina Oxford Llmlted (The) Notss to the Financlal Statements {continuedl for th8 year ended 30th June 2024 Accountlng policies leontinuedl Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities oflhree months or less, and bank overdrafts. Bank overdrafts are Shown wrthin borrowings in ourient liabilities. 1.10 Retirement benefits Payments lo defined Contribution retirement benefrt schemes are charged as an expense as they fall due. 1.11 Tax The ¢hanty is an exempl charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the lesls sel out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definf(ion of a Charitable ttjmpany for UK corpor8lK)n tax purpose5. Critical accounting e$timates and Sudgements In the application of the charity's accounting policies. the trustees are required lo make judgements, eslimales and assumptions about the carrying amount of assets and liabilities that are nct readily apparent frc¥n other sources. The estimates and assoeialed assumptions are based on historical experie￿ and other fact¢)rs that are considered lo be relevant. Adual results may drffer from these estimates. The eslimales anij undedying assumptions are revEwed on an ongoing basis. Revisions to accounting eslimales are recognised in the period in which the estimate is revtsed where the revisK)n affects onty that rrod, or in the period of the revision and future perilxls where the revision affects both current and future pgriods. Donations and legacles Unrestri¢ted funds general 2024 Unrestricted funds general 2023 Donations and gffts Parish contribution Legac￿$ received 1.288 2,000 2,8S 2,000 2.500 3,288 7,396 House ol St Gregory and St Macrina Oxford Llmitgd (The) Notes to the Financial Statsments (contlnuedl forthe year ended 30th June 2024 Charitable acllvlties Unrestrlcted funds 2024 Unrestricted funds 2023 Rental income 149.286 123.805 Investsnents Unrestricted funds general Unrestricted funds designated Restrlcted funds Total funds 2024 Total funds 2023 Income from listed investments Interest receivable 3,055 1,624 857 4,679 857 4,523 548 857 3,055 1,624 5,536 5.071 Other Income Unrestrlcted funds general 2024 Unrestrlcted funds 2023 Other income -12- House of St Gregory and St Macrina Oxford Limited IThel Notes to the Flnanclal Statements (continued) for the year ended 30th June 2024 Charltable activlties Admlnlstration of The House Scholarshlps 2024 2024 Total 2024 Total 2023 staff costs Depreciation and impairment Water rates Insurance Heal and light Telephone and inlemel Repairs and ienewals Laundry and cleaning Garden expenses Other house and administration expenses 30,326 6.674 6,317 7,833 15.543 1.747 35,488 26,045 12,050 5.301 30,326 6.674 6.317 7,833 15,543 1,747 35.488 26,045 12,050 5.301 27,042 6,714 4,2Q4 7.423 17,030 1,953 35,931 23.352 3,183 6,422 147,324 147,324 133,254 Grant funding of adivf(ies (see note 81 Share of governance costs (see note 9) 1,C(10 1.000 5.374 5,374 4,998 152,698 1.000 153,698 138.252 Analy$i$ by fund Unreslri¢led funds- general Reslricled funds 152,698 152,698 1,000 138,252 1,000 152,698 1.000 153,698 138.252 Grants payable Scholarships 2024 2023 Grants lo one individual (2023.. no grants awarded 1,000 1.000 -13- House of St Gregory and St Macrina Oxford Limited (The} Notes to the Flnancial Statements Icontinuedl for the year ended 30th June 2024 Support costs Support costs Governance costs Total 2024 Total 2023 Independent examinerfs fees current year examinatK)n other seNices Legal and professional fees 2.340 1,327 1,707 2,340 1.327 1,707 2,220 1.368 7,410 5.374 5,374 4.998 Anatysed betsyeen Charrtable 8CtNilEs 5,374 5,374 4,998 Govemance costs includes payrrEnts to the independent examiners of £2,340 {2023". £2.2201 for independent examination fees. 10. Trusteps None of the trustees lor any persons connected wrth them) received any remuneration or bengfils from the harity during the year. Travel expenses of£230 were ￿1mbUr5ed to 0￿ Iruslee during the year {2023.. £niQ. 11. Employees The average monlhty number of employees during th¢ year was.. 2024 Number 2023 Number Employment Costs 2024 2023 Wages and salaries Othei pension costs 29,150 1,176 26,470 572 30,326 27.042 There were no employees whose annual remuneration was more than £60.000. -14- House of St Gregory and St Macrlna Oxford Limlted (The) Notes to the Flnancial Staternents {¢ontlnued) for thg year ended 30th June 2024 12. Net gainslllossesl on investments UTrrestrlcted fund$ designated Restricted funds Total 2024 Total 2023 Revaluation of investments 9.324 4.957 14,281 4,837 f 3. Tanglble fixed assets F￿ehOld buildings Fixtures & fbttings Bollers Total Cost At 30th June 2023 125.234 28.478 59,160 212.872 AI 30th June 2024 125,234 28,478 59.160 212,872 Depreclotion and Impairment At 30th June 2023 Depreciation charged in the year 104,519 2,505 26,987 223 23.676 3,946 155,182 6,674 Al 30th June 2024 107.024 27,210 27,622 161,856 Carylng amount At 30th June 2024 18.210 1.268 31,538 51.016 Al 30th June 2023 20,715 1,491 35.484 57,690 Freehoki property Icosll.. 1 Canterbury Road- St Gregory 83 Banbury Road- St Macrina Alleralions 19,046 12.468 93,720 £125.234 All tangible fixed assets are hekd for charitable purposes. The insurance vahje of the freehold buiklings. excluding land, was £3.445,087. The company has a library used solety for charitable purposes with an insurance value of £62.890. The library is not included within the accounts and most of the books were donated some years agts. -15- Housg of St Gregory and St Ma¢rina Oxford Limited (The) Note$ to the Flnanclal Statements Icontinuedl for the year ended 30th June 2024 14. Flxed asset Investments Listed Inv8stments Cost or valuation AI 30th June 2023 Additions Valuation Changes 159,265 4.676 14,281 At 30th June 2024 178,224 Carrylng amount At 30th June 2024 178,224 At 30th June 2023 159,265 This consists of Central Board of Finance of the Church of England.. 7.662 shares12023'. 7,451 shares). The investmonls are held primarily to generate an investment retum for the charity. 15 Debtors: amounts falliny due wlthln one ygar 2024 2023 Rent due 6,109 1,718 16. Crgdltors: amounts falllng due wlthln on8 year 2024 2023 Other taxation and social security Other credi(ors Ac¢ruals and deferied income 920 2,700 6,C67 920 3,525 5,825 9.687 10,270 17. Creditots: amounts falllng due after more than one year 2024 2023 Other creditors 25,000 25,000 Long term other credf(cxs relate to an intere5tfree loan. There are no specrficterms ofrepaymenl. other than when the charity has the funds avaikble lo do so. -16- House of St Gregory and St Macrina Oxford Llrnited (The} Notes to the Financial Statements Icontinuedl for the year ended 30th June 2024 18. Restrlcted funds The income funds of the charity include ieslri¢led funds comprising the following unexpended balances of donations and grants held on trust for specrfi¢ purposes.. Movement in Funds Revaluations, Balance at galns and 30th June los$e$ 2024 Balance at 30th June 2023 Income Expenditure OTEP Grant Library Fund Zernov Carras Scholarship 994 7,361 55,579 994 7,381 61,160 1,624 11.000) 4.957 63.934 1,624 (1.000) 4.957 69,515 Movement in Funds Revaluatlons. Balance at galns and 30th June losses 2023 Balance at 1st July 2022 Income Expenditure OTEP Grant Library Fund Zemov Carras Scholarship 994 7,361 52,030 994 7,361 55,579 1,870 1.679 60.385 1,870 1,679 63,934 The Zernov Carras Scholarship fund aims lo aKI any student connected with the House who is ConneCt￿j with ecumenical work or studying Iheobgy or church life wrth a preference for an ecurnenical subject. One scholarship was made in the year {2023'. None). The Libtary Flrnd comprises a donation from the Eastem Churches Review Trust to be used for the library. -17- House of St Gregory and St Ma¢rlna Oxford Limlted (The) Notes to the Financlal Ststements {contlnuedl for the year ended 30th June 2024 19. Desl9nated funds The ineome funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the Iruslees for specific purpose5-. Movement in Funds Revaluatlons. Balance at galns and 30th June losses 2024 8alance at 30th June 2023 Incomeltfr Loan repayment reserve Reserve Fund Llbrary Fund 20,000 94,685 5,476 20,000 107.¢]64 5,776 3.055 300 9,324 120.161 3.355 9.324 132,840 Movement in Funds Revaluations. Balance at gains and 30th June losses 2023 Balance at 1st July 2022 Income Loan repayment reserve Reserve Fund Library Fund 20.000 88,574 5,476 20,000 94,685 5,476 2.953 3.158 114,050 2,953 3.158 120,161 Purposg of funds The loan repayment reserve lund aims to build SUff￿lent funds to repay the loan referred to in long terTn creditors note. The Reserve Fund aims to prowde forthe long term stability of the charity. The Library Fund provides for the purchase of books and ioumal$ for the library to further the chari18ble objectives of the charity. -18- House of St Gregory and St Macrina Oxford Llmited (The) Notss to the Financial Statements lcontinugd) for the year ended 30th June 2024 20. Analysts of not asset5 betw¢en funds Current Year Unrestrlcted fund$ Designated funds Restilcted funds Totsl 2024 Fund balances at 30th June 2024 are iepresented by. Tangible assets Investrnenls Current assetsl{liabilities) Long temi liabilTties 51,016 51,016 178.224 44.696 {25.0001 117,064 15,776 61,160 8,355 20,565 125.0001 48,581 132,840 69,515 248,936 Prior Year Unrestricted funds Deslgnated funds Restricted funds Total 2023 Fund balances at 30th June 2023 are represented by.. Tangible assets Investments Current asselsl{liabilities) Long term liabilities 57.690 57,690 159,265 38,288 125,0001 103,986 16,175 55,279 8,655 13,458 (25,0001 46,148 120,161 63,934 230,243 21. Related party transactions The only salary was paid to an empbyee who is the sibling of a Iruslee. This arrangement was in place before the trustee was appointed. There were no other di5cbsable related paty transactions in the year. -19-