Charity registration number: 220842 Company registration number- 628535 House of St Gregory and St Macrina Oxford Llmltgd ffhol Annual Report and Unaudited Financial Statements for the year ended 30th June 2025 Wenn Townsend Chartered Accountants Oxford
House ot St Greg¢ry and St Maerina Oxford Llmlted (The) Legal and Admlnlstrative Infomiation Trustees Mr K M S Alton Honeywell (Chairl Mr P Atzemoglou Dr S Bh*ta¢harii Prof Sir M Evans OBE Prof P Francois The Very Rgvd Dr l Graham Prof A Lingas Mr O'mahony The Very Revd S Plall Mr J C T0mS0n (Hon Treasurer} Mr T Sl J White Company secretary MsRCStJWhite Charity numbor 220842 Company numbgr 628S35 Registgrod offic8 1 Canterbury Road Oxford OX2 6LU Indgp•ndent examiner Mr B Hayes Bsc FCA Wenn TownserKJ 30 St Giles Oxford OX1 3LE
House of St Gregory and St Macrina Oxford Limited rfhel Contsnts Pag8 Tnjstees, report Independent examinerf5 report statement of financial activities Balance sheel Notes to the financial statements 9-19
House of St Gregory and St Macrina Oxford Limited tfhe) Trustees, Report (including Directors, Report) for the year ended 30th June 2025 The Iruslees present Ihelr annual report and financial stalemgnls forthe year ended 30th June 2025. The tnjslegs have adopted the provisiors of the Statement of Recommended Practice ISORP} "Accounting and Reportlng by Charitie5" in preparing the annual report and financial statements ol the charity. House of St Gregory and St Macrina Oxford Limited (The) Ilhe House) is a limited company (registered number 628535 and registered ChatY number 2208421- At the House's Annual General Meeting on 14th November 2024. Prof. Pieter Francois and the Very Revd Dr lan Graham were re-elected, being the two longest serving members of Counc51. The Chair is Mr Seraphim Alton Honeywell. The Company Secretary is Ms Rebecca White. The registered offr is al 1 Canterbury Road, Oxford, OX2 6LU. The Bankers are Uoyds Bank plc. Oxford Branch. Carfax. Oxfo, OX14AA. The Independent Examiners are Wenn Tokgnsend, 30 St Giles, Oxford, OX13LE. Ms Rebacca White is Chief Executive Officer and Resident Warden. Oblectlves and activities The HoLJse was established in 1959 lo promote the advancement of the Christian religion,. to pray forthe reunion of Christendom- and to promote mutual Undending between m8mbers of the Anglican Communion and of Eastern Orthodox Church as well as those of other churches, arKI lo provide a pla¢0 of residèncè for such members when requid. In furtherance of these aims the House is run as an Ecumerucal House forsludents and scholars and 8 centre gf slLJdi8s lor Orthodoxy and Christian unity, managed by a resident warden. pursuing ils aims the Ho)use seeks to ffil the requiremtrnls of the Charities Act 2006 (section 41 to have due regard to public benefit. The House Comprises two houses, Sl Grg90ry's {1 Cantgrt)ury Road) and Sl Macrina's183 Banbury Road) which are physically joined and run as a unit. The Orthodox church of the Holy Trinity and the Anntjncialion is in the garden and thè House is also used for gatherings of the Orthodox parishes. There is a $m811 library, rich in materials relating to the Church of the fi t six centuries and beyond. which is open lo the public by appointmert The Fellowship ol St Alban and St Sergius is also based al the House. The library of the Fellowship Is run in conjunction with the library of the House the Liblan is Ms Rebecca While. As a residence forstudents and scholar5 the House provides accommodation to students coming frorn diverse religious and ethnic background. The House does not reslri¢l accommodation to students of a ptIcUlor univèrsity or studying a particular subject. The House has unique resources for scholarship. The library has an archive and a specialised collection of teVs and joumals, many of which are not available elSeere in Oxford. The library is open to the public and its us is f ree of charge. Th8 Housè provides space fort activities of the Orthodox CFwrch in Oxford. The Orthodox Church of tha Hoty Trinity and the Annunciation is bublt on land belongSng to the House. and ils parishes use the House and gard forfeasls, parishmeelings. and discussiongroups. The House is available to individual members of the Orthodox paNshas to use forthe marking of baptisms. weddings 8rKI funerals. k is also used by the Orthodox Studert Societyforsocialand educational functions and forcommittmeetings of groups likelhe Friervjs of Mount AtIK)5 and the Ecumenical Marian Pilgrimage Trust. As an ecumenical study centre, thè House provSdes a me9ting place for groups interested in Christian unity. These meetings are open to the general public. Seminars and classes forstudentsare held in the House in areas compaliblg with thè House's aims.
House ol St Gregory and St Ma¢rfna Oxford Limlted (The) Trustees, Report (including Dlrèctors. Rgport} Icontinuedl for thè yèar ènded 30th June 2025 The House. from ils Zemov-caryas Scholarshlp FuThJ, offers small grants each year for research purposes in the area of theology and ecumenism. It also participates in a scholarship 5cherne which aims lo foster theologica exchange between West and East, supporting educational development in the area of religion and society arn1 when possible by offeriThJ slthjenls frorn Easlem Europe and the formersovlel Unlon the opportunity to carry out theological research in Oxford. Publ1¢ bgnefit Statement The Iruslees have complied nth their duty to have due regard lo the guidance on public benefit published by the Charity Commission in exercising their powers or duties. Achlevements and performaneè The Council actively encourages and welcomes activities which are in accordanca wblh th& aims of thè Hous& and for the public benefit. The most visible aspécts of th8 life of the House are the provision of accommodation forstudents and scholars and the extensive use of the meeting room by the Orthodox parishes and other groups. In addition the Hoijse 6 a centre for the study of Orthodoxy and Christian ecumenism. This year the House continued lo provije accoTnmodation for both graduate and undergraduate students. Residents originated from Austria. Gr¢e¢g, Ireland, Pakistan, Romania. Russia, Turkmenistan. the U.K. and the U.S.A. and includ ed Christian5 of East ar¥J West. as well as those of otherreligious lTrditions or none, this year including Hindu, Jewish and Muslim students. Their research or study areas ranged widely, and included anthropology, theology. late antique and byzantin& studies, ¢opti¢ studies, olloman studies. ethnography. French, history. law. music. physi¢s and siwjlogy. The House fosters asense of communitythrough temly social events, ¢ulmining in the annual garden party in June. In addition to its close relationship wlh the Orthodox parishes, govemed by a separate Deed of Trust. the Hous¢ works infomially wlh other groups to meet ils aims. The Council is pursuing several initiative5 in order lo meet the ecurnenical aims of the House even more effectively. Building on already existing connections. the House is actively looking at ways in which to co -operate more closely wlh the Fellowship of St Alban and St Sergius IFSASSI, whose office is at present 511ualed in the House, and with its sister foundation, the St Theosevia Centre for Christian Spirilualily al 2 Canterbury Road. next door. A wothing group wlh representation from all three charities has been set up to explore such co- operation with a view to expanding and enhancing their common wotl( in furthering understanding between Christians of different tradilions, through academic research ar¥1 pèrsonal en¢ountèr. Representatives of the three charflles continue to meet and lo explore closer, active COperatIon and this year have focussed the efforts on the library as a common concem and arranging the Bnnual Zemov Lecture. The FSASS h8s similar aims. also existing to promote undeTrlanding between Christians of East and West. and any joint activities reflect efforts to Coaoperale. Areas of collaboration include.. support of the Oxford Theologr Exchange Programme {the FSASS providès an annual grant to support the pn)gramm81. joint organisalion of me8tings of th8 Oxford Branch of the Fellowship of St Alban and Sl Sergius. the running of an amalgamated library, use of the House by the Fellowship for ils events, an annual lecture held in memory of Nicolas Zemov and jointly hosted, as well as other occasional projects and social events. The FSASS s0 runs it5 ovm annual conference elsewhere in Oxford, in this anniversary year of the Council of Nicaea taking as ils theme st0m0st Then and Now. The Sl Theosevia Centre for Christian Spirilualily has termly study days. In May the three charities hosted the ZerV Lecture. This public event wa8 again held in association vrith th& Maison Franfjaise d'oxford IMFOI, where the lecture and cheese and wne reception that followed il took pl4x. The lecture was given by thè lomerArchbishDP of Cant6rt)ury, the Rt Rèvd Dr Rowan Williams PC, FBA. FRSL, FLSW, renowned theologian and public intellectual, who spokeaboullhe Francophile Russian émigré Ilologia Vladimir Lossky.
Housa of St Gregory and St Macrina Oxford Limited (The} Trustees. Report lincluding Directors, Report) (continued) for the year ended 30th June 2025 The talk, entitled 'On tho roads of France in 1940.. reflections on the war4ime diaries of VladimirLossky I13- 1958),. focussed on the political and theological Sdeas arising from Lossky's experience of the occupation of France during the Second Worfd War. Losskywas an important figurein the lrfeof the FSASS and his phDtogra)h hangs in the hallway of the House,. participated in some of the Fellowship's earfy conferences, thich were ploneering in providiro opportunities for theological exchange between E8Stem and Westem theologian5. The library, as a joint concem of the Hou$8 and the Fellowship, has its own library Committ and is wOlg on ways to make the library holdings more accessible lo readers. The library commStleg mombgrship now include5 representation from811 three charities, as some of theamalgamaled library is physically housed in Sl Theosevia's, which is also home to a separate and significantarchive. The House and th6 FSASS also have their archival maleri81. Worf( still needs to be done lo conserve and manage these archives. The Ilbrary committeehas active begun ils woth lo clarify the relationship between the different parts of the library and the principles of us managament aTrJ care and welcomes researchers lo explorg these archives. The Oxford Theologic81 Exchange Programme IOTEPI was established after the fall of Communism lo provKle opportunities forscholars from the countries of the former Soviet Union and Eastem Europe lo cary out research in Oxford under the aegis of the Faculty of Theology and Religion of Oxford University for up to one year. There has been a hiatus in offering the s¢hDlarship to individuals. given challenges such as the new visa regime. b the programme continues ils activities within the research environment of Re9ent's Part( College where the programme is based. There have overthe year also been several short resear¢h visits to the House by previol OTEP scholars. We hope circumstsnces will allow us to offer the scholarship again soon. As part of its activities to loslerexchange between Christian$ of East and West. the House. in partrrship with Regent's Park College, arKI supported by the FSASS and the Sl Theosevia Cenlre, held a tW04Jay academic and cultural event in April on Mary.. 'Kiddist Maryam.. Encountering Mary in the Ethiopian Orthodox Tradili()n', Mh)ich took as its starting point a gift lo the library of a special print copy ol the Ethiopic Miracles of Mary and explor the figure of Mary in the Ethiopian Orthodox tradition frorn theologi¢81, anthropologicBI and textual perspectives. setting these alongside, and making Connections wth, other Christian traditions. A full-day academic conferen. in person al Regent'5 and online. was followed by a cultural event al the House with lal ks, an exhibition of parchment Icons from Tigray in Northem Ethiopia. aThJ a recepllon fealurfng Ethiopian music and food. A serv of Vespers according lo the Ethiopian Orthodox Tawehedo tradition was held in the Orthodox church a CanterfDUry Road by kind perrni55ion of the Greek Archdiocese of Thyaleira and Great Britain to which mombers of the Ethloplan community in Oxford and beyond were invlted. 81ongside those allending the conference and others. The House aims to fosler exchange between Chrfstlans of East or West through academic research ori the Christian Itaditions of East 8nd West and by co-operating with other groups to further research and public engagement also in the area of religion and society and religion and the arts, especially in an East-west Christian Conlexl, as In this yearfs collaborative Ethiopian ¢onferen¢8. Some of the House Irusl8es and friends of I House bring thèir professional expertise in these area5 and connect the House wth their wder netwotks. In addition the House 50netimes hosts 8vants, either virtual or in person, in the area of law and religion. religion and sustainable development and re1j10us cultural herllage protection. The Warden involvos the House wth th Ls work dso by participation in local and intemalional conferences. such as in the G20 Interfaith Forurn's IIF201 Hamiony Week in Addis Ababa, Ethiopia, in May, shortly after our own Ethiopian confeTence, where she was addff(ionally invited to view the Ethiopian National Archive's historic collection of manus¢ripls. This year has continued to be markèd by significant instability in the Middle East. The fragile Christian communities of the region have been greatly affected and remain a particular concem. The Htsuse ollers a pl8 of openne55 and dialogue between Christians of different traditions and. building on its historic ecumenical commitment. also engages wth those of other faiths. continuing lo provide opportunities for such engagement and bulldiNJ personal friendships acTOSS traditions at a lime of increased religious and political tension.
House of St Gregory and St Macrina Oxford Limit¢d (fhe) Trustees. Report lin¢luding Directors. Report) (continuèd) for the year ended 30th June 2025 Flnanclal revlow The House is pleased lo be able to award scholarships each year from the Zemov Carras scholarship fund. a furKI estsblished to aid any student connected Tmlh the House and connected wth ecumenical work or studyir theology or Ghurch Ilfe with preference foran ecumenical subject. This year three scholarships were awarded. ona of £300 for travel costs to Georgia lo source books containing medieval theological texts necessary for a¢ademi¢ resear¢h'. a scholarship of £515 to enable participation in a Byzantine Greek summer school and the Pusey House conference in Oxford on'Resloring the Image.. Creation. Salvation, and the Human Person.; and scholarship of £685 was made for travel costs lo visit the archive5 al the Presbyterian Historical Society in Philadelphla for research on Chrislianily in British Imperial north India and Poslcolonial Pakistan. The &slablish8d schèdules for routine maintenance and redecoration (interior and exleriorl conlirHJe. He8lth and safely mallers are reported regularty to the Council and house improvements in connection wlh health and safety legislation are made where necessary. In this year, for instance. some urgent lead roof work was needed lo bay wndow area. 2025 marked another drfficull yearforthe finances of the Housg %%ith an overall deficit of £21,502. Care of OLr historical buildings continues to be a drag on our finances, remaining our single bgest expense. whilst the cost of heating and lighting in¢rÈased by over £8,000 in 2025. Gardening expenses also increased by over £6.000 because of OnfI tree works. Several oversized trees along the boundary of the House had lo be rernova because they weTè ath6r causing damage lo the boundary wall OT becoming a risk ¢Jue tts height. Worf( is still needed lo repair the wall 8nd roplant wth trèès suitable for our North Oxford Conservation area, but new gardening arrdngemenls mean that regular garden ¢osls are not expected to increase in the coming year. In the pastourdeficits have been mitigated by our investment income., however, our balance sheet was further damagaj thi5 year by an £8,000 reduction in their value. It is expected that the 2025-26 building c051s will remain high and potentially even increase due lo planned ele¢tri¢al maintenancè work and further necessary work to the lead covering on the roof. CUrntlY our primary lever lo raise income is lo inGfease rents., the House trustees have recognised the need lo refle¢t actively on how to build up greater resilience. The charity does not al present actively fundraise from the public, although the twstees are pleased to receive unsolicited gifts and legacies lo support its ongoing worf(. Given that the current stale of flnanclal deflclt cannot continue. our choice is stark. we either reduce our maintènance and hèating costs signilicanlly or we begin actively lo fundraise. Our first port of call must be previous residents and we have begun thinking about how we can introduce a new contact database forcommunicaling wlh previous residents in order lo allow us lo fundral$e. Thè House has now put in place a system to collect Gift Aid frorn donations. We are asking all tax%*ayir4J don0 to kindly allow us to clalm Gift Ald on their donations. Resetves The reserves which the Hovse holds are apportioned between various funds. Apart from thè Zemov Carras Scholarshlp Fund, which is a restricted fund, there are three designated funds= the Reserve Fund. the Loan Repayment reserve. and the Library Fund (for the purchase of books atyj loumS for the library). The annual amount transferred lo the Library Fund is £300 pèr annum. The Reserve Fund is to provide forlhe long-lem stability of the House, lo assist wlh any future major Works required forlhe f8bri¢ of the House and lo f urther its charil8ble objectives. Thè Reserve Fund is held in investments wlh thg Central Board of Finance of the Church of England. Thè Council aims to build up a reserve of £S0.000 to provide for the long 4erm stability of the Hous Current fund balances are given on p8ges 17-19 of the accounts. General funds total £28.491 12024.. £46,581> of which £44,375 12024.. £51,016) is represented by tangible fixed assets to give a deficit to free reserv of £1S,884. This year again there have been no transfers to the Loan Repayment Reserve. The trustees have assessed the risks lo the charity. These include.. damage to and loss of property, especial structural damage, economic collapse. and loss of rent. The House has insurance cover of £10,(X)O,000 in respect of public liability and there are procedures for risk management. including financial controls. To manage House of St Gragory and St Macrina Oxford Limltsd ITh•l
Trustees. Report (including Directors. Report) (Continu> for thè yèar tnded 30th June 2025 non-financial risks. the House has robust policies in place. awareness training for staff and provision of extema consijltancy on matters of health and safety. In the long tern. the Council is aware that a much larger reserve fuThl needs to be built up lo meet contingencies, lor the enhancement of the House and the extension of ils work, and the trustees have agieed an aspiTalional target of a £10,000 sijrplus each year until reSee fur levels are reached. Structure, govemanca and management House of St Gregory and St Macrina Oxford Limited lThel is constiluled by memorandum articles of association, incorporated in 1959, and govemed, and it5 affairs administered, by a Council subject lo the articles of asso¢lation. Iheie are some thirty members of the Association of the House of Sl Gregory and Sl Macrina Including Presldenls, Vice-Prssldenls and Council Members. Members of the Council115 maximum} are elected by the Association al the Annual General Meeting. Not more than 10 additional members may be co-opted by the Council from lime to time al the fi1 meeting afterlhts AGM. Such members are subje¢t lo re-appoinlmont by the Council each year. Therg is no fixed pariod ol office forf Council members.. each year the Iwo longest serving membars retire and are imm8diatèly aligibl8 for re-election. New membgrs are nomlnale(I through the Councll foreleclion al the Annual General Meellng. Councll membe a chosen to flect the ecumenical nature of the Association and ils commilment to the purposes forwhich t was sel up. Consideration is also given lo achieving a balance of experience necessary for the effeclwe govemance of the Association and the House. New and prospective members of the Council are invited lo visft the House and Can consult the Warden about aspects with which they ar8 fK>t fam iliar. Mefflber5 of the Council are also invited to thè tamily social events to which rasid8nts and Otr inlerestad persons are also invited. Ajlhough no special policies have been adopted forthe inducllon and tralnlng of Councll members, 811 a aware of thelrduties and obligations towards the mainlenan¢e of Ihecharily and the protectionof ils assets. On election Council members are provided wlh documentation relevant lo their role as a trustee and in relation lo their role In the govemanee of the House. Trustees are also en¢ouraged to attend appropriate training events where these 11 facilitate the undertaking of their role. The Council Members for the year ended 30th June 2025 were.. Mr K M S Alton Honeywell Ichalrl Mr P Alzemoglou Dr S Bhaltacharii Prof Sir M Evans OBE Prof P Francois The Very Revd Dr l Graham Prof A Lingas Mr O'mohony The Very Revd S Platt Mr J C Townson {Hon TasUrer) Mr T Sl J While Thls report has been prepared having taken advantage of the small companies exempllon In I Comp8nies A¢1 2006. For and on behalf of the Council Mr K M S Alton Hon&ywg11 {Ch Trustee 13th November 2025
Independent Examinerfs Report to thè Trustees of House of St Gregory and St Maerlna Oxford Limited lThel I report lo the trustees on my examirwlion of the financial statement5 of House of Sl Gregory and St Macrina Oxford Limited (The) Ilhe charityl for the year ended 30th June 2025, which are set oul on pages 7 to 19. Responsibilities and basis of report As the tnJslees of the charity land also Ils dlrectors forthe PLKposes of company lawl you are responslble fortr preparallon of the flnan¢lal statements in accordanee with the requirements of the Companies Ac12006 Ilhe 2006 Acti. Having satisfied myself that the financial statements of the charity are not requlr8d to be audited under Part 16 of the 2006 Act and are eligiblè for independent examination, I report in respect of my examination of the charity's finanelal stateménts carried out under section 145 of the Charities Act 2011 (the 2011 A¢l}. In carrying out my examination I have followed the Directions given by tIE Charfty Commlssbon under section 145151(bl of the 2011 Act. Independent exarnlner's statement I have completed my examination. l confirn that no mallers have come lo my attention in connection with the examination giving me ¢ause lo believe that in any material respect= accounting records were not k8Pt in respect of the charity as required by section 386 of the 2006 Act: or the financial statements do not accord wth those iecords.. or the financial slalements do not comply wth the accounting requlremenls of section 396 of the 20CE Act other than any requirement that the accounts give a true and fair view lch is not a matter considera as part of an independent examination-, or the financial statements have not been prepared in aocoTdan¢o th the methods and prirKlples of the stalernent of Recommended Practice fgr accounting and reporting by charitie5 applicable lo charities Preparing thair accounts in accordance wlh the Financial Reporting Standard applicable in thè UK and Republic of Ireland IFRS 1021. I have no concems and have Come 8¢rosg no other Matte in connection with the examination to which attention should be drawn in this report in order lo enable a proper understanding of Ihefinancial slatemenls to be reached. Benlamln Hayes Bsc FCA Wenn Townsend 30 St Glles Oxford OX13LE 131h November 2025
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House of St Grègory and St Macrina Oxford Limited (The) Balance Sheet as at 30th June 2025 2025 2024 Notes Fixed aets Tangible assets Investments 13 14 44.375 175,140 51,016 178,224 219.515 229,240 Currènt ass&ts DebloTS Cash 8t bank and In hand 15 2,766 37.076 6,109 48,274 39,842 54,383 Crèdltors: amounts falling due wlthln gne year 16 16,923} 19,6871 Net current assots 32,919 44,696 Total assets less eurr#nt liabilities 252,434 273.936 ¢ditors. amounts falling due aftèr more than one year 17 125,0001 {25,WOI N¢t assgts 227,434 248.936 Income funds Restricted fLJnds Unrestricted funds 18 19 67.256 69,515 Desi9naled General 131,687 28,491 132.840 46,581 180,178 179,421 227,434 248.936 The company is entStled to the exenption from the audit requirements contained in secllon 477 of the Compantes A 2006, for the year ended 30th June 2025. The directors acknovAedg& thèirrèsponsibilities for col.n9 with the requirernents of the Companies Act 2006 wlh respect to accountlng words and the preparation of financial statements. The members have not required the company to obtsin an audit of ils financial statements for the yearln question n accordance wlh section 476. These financial statements have been prepared in accordanc8wilh the provisions appIab to companies subi'&t lo th¢ small companies regime. The f inancial slalements were approvèd by the trustees on 13th Novernber 2025. kMS Mr K M S Alton Honewwell I Trustee air} Company reglstratlon numb?r 628535
House of St Gregory and St Macrina Oxford Llmlted ffho} Note5 to the Financial Statements for the year ènded 30th Junè 2025 Accounting policies Charity informatio House of St Gregory and St Mrina Oxford Limited h9) is a private company limited by guarantee Incorporated in England and Wales. The registered off ice is 1 Canterbury Road, Oxford, OX2 6LU. Accounting convantion The charity constilules 8 public benefit entity as defined by FRS 102. The financial slalemenls have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practre applicablè to charities preparirvj their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019. the Financlal Reporting Slanda applicable in the United Kingdom arKI Republic of Ireland IFRS 1021, the Charities Act 2011, the Compani Act 2006 and UK Generally Accepted Accounting Practice. The charity has taken advantaJe of pmvisions in the SORP forchwlies not to prepare 8 Stalemwt of Cash Flows. The financial statements are prepared in stedin9, which is the functional currency of the charity. Monetay amounts in these financial slalemenls are rounded lo the nearest £. The financial statements havebeen prepared underthe historical cost convention. modrfiedto includecert financial insttumènls at fair value. The principal accounting policies adopted are sel out below. Going concern At the time of appromng Ih8f inancial statemènts. thè trustees have a reasonable expectstion that the chaty has adequ*e resources to Gontinue in operational exi5ten¢e forlhe f()rese9able fulurtr. Thu5 the InJslee5 continue to adopt the going concem basis of accounting in preparing the financial staternts. Charitsbl• lund$ Unrestri¢led f unds are available for use at the discretion of the trustees in furtherance of their charilab objectives. Design81ed fU[S comprise funds wch have been sel aside al th8 discretion of the trustees for speof purposes. Thepurposes and usesof thedesignaled funds areset outinthe notesto the financial statements. Restricted funds 8re subject to Specific conditions by donors as to how they may be used. The purposes and uses of the resliicted funds are set out in the notes to the financial statements. 1A In¢ome iecognltion All incoming resources are included in the Statement of Financial Aclimties ISoFA)when the charity is lega enlilled to the income afterany perfomianceconditions havebeen mel. the amount can bemeasured reliabty and It is probable that the Income 11 be received. For donations lo be recognised the charily will have been notified of the amounts and the settlemènt dale writing. If Ihgrts are Gondilions all8ched to the donation and this rèquires a 16vel of performance befo enlillement can be obtained then income is deferred until those conditions arefully met or the fulfilnHt of tIK)se conditions is within the control of the charity and il is probable that they will be fulfilled.
House of St Gregory and St Macrlna Oxlord Limitsd IThe) Notes to the Financial Stat8m8nts {continugdl for tha yèar ondad 30th June 2025 Accounting policles Icontlnuedl Income recognition (continued) Donated facilities and donated professional seryices are recognised in Irome al their fair vdue en thgir economic bengfil Is probable, Itcan beMeaSU reliably and the charity has control overlhe item. Falrvalue is deterrnined on the basis of the value of the grft to the charity. Forexarnple. the amount the charity woulj be willing to pay in the open market for such facilities and service5. A CoeSpOndIng amount is recogniwj Sn expenditure. No amount is in¢luded in the financial slalemenls for volunteer lime in line wlth the SORP. Further detaS115 given in the Trusle85' Annual Report. For legaciès, gnti11gmenl is the eartier of the charity being notified of an impending distribution orlha leg being received. Al this point income is recognised. On occasion18ga¢ies 11 be nolrfied lo the charity )wever it is not possible to measuo the amount expected lo be distributed. On these occas•Jns. Ihe18J is treated as a Conlingenl asset and disclosed. Investment income is eamed through holdin9 assets for investment purposes such as shares and propety- includ85 dividend5, Interest and rent. It is included when the amount can be maasured reliably. and s rectsgnised as the charity's right to receive paymenl is established. Expènditurè rècognition Expènditure is recognised once there is a legal or constructive obligation to transfer economlc beneftt to a third party, it is probable that a transfer of economic benefits will be required in selllement, aTh4 the amourt of the obligation can bè ffieasur8d reliably. Tangible fixed assets Tangible fixed assets are initially measured 8t cost and subsequently measured at cost orvalualion. nel of depreciation and any impairment losses. Depreciation is recognised so as to lte off the cost orvaluation of assets less their residual values ov their useful lives on the followng bases: Freehold buildings Fixtures and fittings Boilers 2% straight line 15Q/o redLJcing balanc8 6.67% slraighl line115 years) The gain orloss arising onthèdisposal ofanass8t is datemined as thè di11gr8ncebètweenthe sale proce8*s and the carrying value of the asset. and is recognised in the stslement of financial aclivilies. Flxed asset n$1mnts Fixed asset investments arè Inilkglly measured al tfdnsaclion priee excluding transaction costs. and are Subsequently measured at fair value al each reporting dale. Changes in fair value are recognised in net incomejlexpenditurel for the year. Transaction costs a expensed as incurred. Debtor5 and creditors receivable I payable within one year Debtors and cr6ditor5 With no stated interest rate and receivable or payable wthin one year a Tecord& at transaction price. Any losses arising from impaiment are recognised in expenditure. -10-
House of St Grègory and St Macrina Oxford Llmited (The) Nat•$ tty thg Financial Statements Icontlnu for the year ended 30th June 2025 A¢countlng pollcles {contlnu8d) Cash and cash equivalents Cash arKI cash equivalents include cash In hand, deposits held al call with banks. other short-temi lIql Investments wlh original malurilies of three months or less, bank overdrafts. Bank overdrafts are shoK thin borrowings in current liabilities. 1.10 Retirèment benefits Paymenls lo defined contributk)n ret1ment beneflt schemes are charged as an expense as Ihey fall due. 1.11 Tax The charity is an exemplcharity wlhln Ihg meanlng of schedule 3 of Ihecharities Act2011 and is considevj Eo pass the tests sel out In P8r8graph 1 Schedule 6 Finance Act 2010 Bnd therefore It meets the definition of charitable company for UK corporation tax purposés. Critical a¢¢ounting estimates and judgements In the application of the charity's a¢¢ounling policies, the trustee5 are required to make judgemenls, estimates and assumptions about the carying amount of assets and liabilities that are not readily 8pparert from other50urces. The eslimales and associated assumptions are based on historical experienceand oth factors that are considered to ba rèlavant. Actual $v11$ may differ from these eslimales. The eslimales and underfying assurnplions are reviewed on an ongoing basis. Revisions to accountxu eslimales are recognised in the period in which thè èstimatg is rgvised where the revision affects only ttrot period, or in the period of the revision and f uture periods where the revision affects bolh current and futu periods. Donatlon$ and legacie5 Unrèstrlctad funds general 202S Unrestricted funds gèneral 2024 DonatK)ns and grfls Parish cDnlribution 2,047 3,600 1,288 2,000 5.647 3,288 -11-
House of St Gragory and St Ma¢rina Oxford Llmlted (Thè) Notes to the Financial Ststements {conllnuedl for th¢ year ended 30th June 2025 Charitable activities Unre5trlcted lunds 2025 Unrestrlctod funds 2024 Rental income 147,977 149.286 Invèstments Unrestricted funds g•n&ral Unrestrictèd fund$ designated R•stricted funds Totsl funds 2025 Total funds 2024 Income from li%ted investments Interest receivable 3,791 1.980 5.771 161 4.679 857 161 161 3,791 1,980 5.536 other income Unrèstrlctad fund5 general 2025 Unrestricted funds 2024 Other income- events 1.551 .12-
House of St Gregory and St Macrlna Oxford Limitsd (The) Note5 to the Financial Statements l¢ontinuedl for the year endèd 301h June 2025 Charitable actlvltles Administration of The House 2025 Scholarshlps 2025 Total 2025 Totol 2024 Staff (yjsts Depreciation and impairmènt Water rates Insurance Heal and li9ht Telaphono and Inlomet Repairs and renewals Laundry and cleaning Garden expensès Other house and administration expenses Provish)ns for potential bad debts 30,468 6,641 3,863 8.379 23,857 1,5 32,336 29,981 18,418 5,70CI 7,580 3D.468 6,641 3,863 8,379 23,e57 1,905 32.336 29.981 18.418 5.700 7,580 30.326 6,674 6,317 7,833 15,543 1.747 35,488 26,045 12,050 5.301 169,128 169,128 147,324 Grant lunding of a¢tivtties (see note 81 Share of govemance costs Isee note 9) 1.500 1.5(KJ 1,ThJO 5.374 3,998 173,126 1,500 174.626 153.698 Analysls by fund Unrestricted funlls -general Restricted funds 173.126 173,126 1,500 152,698 1,000 1,500 173.126 1.500 174,626 153,698 Grants payable Scholarshlp$ 2025 2024 Grants lo three individuals12024.. one grant awarded} 1,500 1,000 1,000
House of St Gregory and St Ma¢rina Oxford Llmited (fhèl Notes to the Financlal Ststèments Icontinuedl for thè yèar er]ded 30th June 2025 Support costs Support costs Govemanca ¢05ts Total 2025 Total 2024 Independent examinerfs f currgnl year examination other serveS Legal and prof&sK)nal fees 2,480 1,098 420 2.480 1,098 420 2,340 1,327 1,707 3,998 3.998 5,374 Analysed between charitable tnltIe 3,998 3,998 5.374 Govemance costs includes payments to the independent examiners of £2,480 12024.. £2.3401 for independent examination fees. 10. Trustees None of the trustees {or any persons connected with them) received any remuneraiion or benefits frorn tre charity during the year. Travel expeeS of £82 were reimbursed to one trustee during the yearl2024.. £2301. 11. Employees The average monthly number of employees during the year wa5.. 2025 Number 2024 Number Employment costs 2025 2024 Wages and s81aries Other pension oJsts 30,468 29,150 1,176 30,468 30,326 There were nts employees whose amual muneratIon was more than £60.(KJO. -1
House of St Gr¥gory and St Ma¢rina Oxford Limited IThe) Notes to th8 Finan¢Éal Ststements Icontinuedl for the year ended 30th June 2025 Net galnsl(Ios5esl on Invesbnents Unrestrlctod funds designated Restrlcted funds Total 2025 Total 2024 Revaluation of investments 15,2441 12,7391 17,9831 14,281 13. Tangible fixed assets Fraehold bulldings Flxtur•s & fittings Boilers Total Cost At 30th June 2024 125,234 28,478 59,160 212,872 At 30th June 2025 125,234 28,478 59,160 212,872 Oepreclatlon and Impalmi8nt At 30th June 2024 DeprecialDn charged in the year 107,024 2.$05 27.210 190 27.622 3.946 161,856 6,641 At 30th June 2025 109,529 27,400 31,568 168,497 Carrying amount At 30th June 2025 15,705 1,078 27,W2 44,375 At 30th June 2024 18,210 1.268 31,538 51,016 Freehold property {¢ostl'. 1 Canterbury Road - St Grewry 83 Banbury Road - St MacTina Alleralions 19,046 12.468 93.720 £125,234 All tangible fixed assets are held for ch8ritsble purposes. The insurance value of the freehDld buildiNJs. excluding land. was £3,445.087. The company has a library used solely foi charitable Pufposes wlh an insurance value of £62,89). The library is not included within the accounts and most of the books were donated some yeaT5 ago. -1>
Hou$& ¢f St Gregory and St Macrina Oxford Llmlt8d ITh81 Notes to thè Fin¥n¢ial Statements (continued) for the year ended 30th Junè 2025 14 Flxed a$s•t Invèsknents Listed Investments Cost or valuation AI 30th June 2024 Ad(l((lon$ Valuation changes 178.224 4.899 (7,9831 At 30th June 2025 175,140 Carrylng amount Al 30th June 2025 175,140 At 30th June 2024 178,224 This consists of Cgntral Board of Finance of the Church of England: 7,873 shares12024.- 7.662 shares). The investments are h6ld primartly lo generate an investment relum for the charity. 1S Debtors.. amounts fallin9 du• within one aT 202S 2024 Rent due 2,766 6,109 16. Credltors: amounts falling due within one year 2025 2024 Other laxalion and Social security Other creditors Accwals and tjeferred Income 920 2,700 6,067 6,923 6,923 9,687 17. Cradltors: amounts falllng due after mor& than ono year 2025 2024 Other creditors 25,000 25.000 Long term other creditors relate lo an interest free loan. There 8r8 no specifictems of repayment. otherth when the charity has the funds avaiLible lo do so. -1
House of St Gregory and St Macrlna Oxford Llmltsd (fhel Notes to the Financial Statements (continu> for th8 year ènded 30th June 2025 18. Rèstricted funds The income funds of the charity include reslricled funds comprisirKJ the followng unexpended balan¢es of donations and grants held on trust for spe¢ific purposes- Movement in Funds Revaluations, galns and 105se5 ance at 30th Jun8 2025 Balance at 30th June 2024 In¢ome Expenditure OTEP Grant Library Fund Zemv Carras Scholarship 7,361 61.160 7.361 58.901 1.980 11.5001 12.7391 69,515 1.980 11,5001 12,7391 67.256 Movement in Funds Revaluatlons, Balanc• at gain5 and 30th June losses 2024 Balance at 30th June 2023 Income Expenditure OTEP Grant Library Fund Zemov Carras Scholarship 994 7,361 55.579 994 7,361 61.160 1.624 11.0001 4,957 63,934 1.624 11,0001 4,957 69,S15 The Zemv CaThas Seholatship fund aims lo aid any student connected wlh the House who is ¢onne¢tè with ecumenical work orstudying theology or church lifewlh a preferenceforan ecumenical subject. Three scholarships were made in the year {2024'. Onel. The Library Fund comprises a donation from the Easlem Churches Review Trust lo be used for the library. -17-
House of St Gregory and St Macrina Oxford Llmlted (fhel Notes to th• Financial Statements IcontSnu•dl for the year ended 30th Jun• 2025 19. Deslgnatgd funds The income funds of the chaiily include the following designated funds which have been set aside of nstriCted f unds by the Iruslees for specific purposes.. Movement In Funds Revaluatlons, Balance at gains and 30th Jung lo$se$ 2025 Balancè at 30th June 2024 Incomelifr Loan repayment reserve Reserve Fund Library Futxl 20,000 107,064 5,776 20.000 105,611 6,076 3.791 300 15,2441 132,840 4.091 15.244 131,687 Movement In Funds Revaluations. galns and losses Balanc8 at 30th June 2024 Balance at 30th June 2023 Incomeltfr Loan repayment reserve Reserve Fund Library Fund 20,000 94,685 5.476 20.000 107.064 5.776 3.055 300 9,324 120,161 3.355 9,324 132,840 Purpose of funds The loan r8payment TestrNe fund aims lo build Sufflent funds to paY the loan referred lo in the long term creditors note. The Rèselve Fund aims to provide for the long temi stability of the ¢harfty. The Library Fund provides forthe purchase of books and joumals for the library lo further the charilab objectives of the ¢harity.
klousè of St Gregory and St Macrina Oxford Llmltsd (Thtl Notes to the Flnanclal Statements Icontinuedl for th& ygar ¢nded 30th June 2025 Analysls of net assets b•tsv¢¢n funds Current Year Unrestrlctod funds D&slgn4ted funds Restrlcted funds Totsl 2025 Fund balanc&s at 30th June 2025 are presented by.. Tangible assets Investments Curienl assetslOiabilities} Long temi liabilities 44,375 44,375 175, 140 32,919 125,000} 116,239 15,448 58,901 8,355 9.116 125,0001 28,491 131,687 67.256 227,434 Prior Year Unr8strlet8d funds Designated funds Restrlcted funds Totsl 2024 Fund bala0$ al 30th June 2024 are represented by.. Tangible assets Investmerrts Current asselslUiabililies} Long lemi liabilllies 51.016 51,016 178,224 44.696 125.0001 117.064 15.778 61.160 8,3S5 20.565 125.000} 46,581 132,840 69,515 248,936 21. Related party transactlons The only salary was paid lo an employee who is the sibling of a trustee. This arrangement was in pl before the trustee was appolnted. There were no other disclosable relaled party transactions in the year. -19.