2024-12-31-accounts

st Mlchaèl's and All Saints. Charities Chur¢h Branch (St Michael's and All Saints, Charity) Aeeounts for the year ended 31st Dècemb*r 2024 Wenn Townsend Chartered Accountants Oxford

St Mlcha81's and All Saint$, Qharitte5 Church Branch (St Mlehaèl's and All Salnts. Charity) Charity Number 261304 Ex-offlclo Tnkstees W¢ar of Sl Mlchael at the North Gate Rev A Buckley The Waidetts of St Michael al the North Gate Mr M Lebus Mrs P Warner Istepped down on 15￿ May 20241 Prof A Spicer (commenced on 15th May 20241 The Reclar ￿ LiiiD)In Cclleg P:-o': P. VTOUOh": ntil 3J. QEp:rmtJr 2J£41 }.Ar N Clford !=Gi)me. ced on 1-1 S The Princ pa cf Jesus Coll-g8". I Shadbolt Nomsnatlve Trustees rths S S-ib.i Id-.)s > Dailey IS:(5F.Jed dcvfi on .'Ll.. Octotse.. 20£41 r.lr R Ear. .'dè=•ès&4 315Tr lan. ars." 202K' rtrlr 4 r S.4e?paT.I IGornmen.-ed cp. 15.. Oc".Gbthr20£4i Cl•rk lo the Truslo•6 Flrs L JacP.er {fra￿ is". Ociooer £￿24, Ir 4 F ehe)parJ ireTr-:red.30. S.pte￿.be" 20241 Addr955 SS TrO.ic 2el's ChJr=h Ctsnlre Co'nTatke: Oxfcrc Auditors n TcFnse.. 30 Q: Cilr5 QX1 3LE Banker5 B2rcla"%'5 eank pi PO Bo>. e45 .l%%lha. Coux 11 *es-. trVBy Oxford IrTvestment lianager5 ser.ator HoLse IC4C-lu Str￿. nc.g11 Ec4￿ 4ET Chartered SurveyDrs Sab I'.0 iL'.<I'" 4la."Gar@t Strèet 1.JOJD solic￿Or5 24 11..il.'aT SL"e C&R 9AT

St Mlchael's and All Salnts, Charities Church Branch {st Mletkael's and All SaFnts' Charity) Trustees. Report for the year ended 31st December 2024 Rèf8rence and dministratNe tnforvnation Please ￿fer to page 1 Structure. Governancè and Managèment The St Michael's and All Satnts. Charty is TegulRtèd by a Schème sealèd by the Charity Commlsslon on 18th Fabruary 1991. The body of Trustees consists of five èx-officio trustèès and slx trustees nominated bythe Parochial Church Counal of St Mtchael at the North Gate with St Martin and All Saints. Oxford. The Schemè provides that 8 person appointed may be. but need not be, a membeT of the nominating body. A saLaried clerk is employed. Tha Trustees are refgrred to as the Feoffees. On appointment a nèw Feoffee meèts the Chairman of the Feoffeas, the Incumbent of the PaTlsh of Sl. Michael at the Northgate and the Clerk to thè Feoffees and is sentthe followng documÈnts- Feoffe&s' H&ndbcrt)k Scheme sealed 18th February 1991 Scheme sealed 7th May 1980 Igovafning The Church Houses Rèlief in Need Charity) Minutes of the previous four meetings Th& last audited 8¢COLFnts of the charities A stment Oft￿ experienca and experttse of other Feoffeès A new Feoffee Is required lo complete the following- A RegLster of skilL8 A R8gisler of Feoffees. 5nte￿Sts . A Ded8ration rrhase Registers and Declaratbn are aL80 completsd by each Feoffee annually.) The Clerk Shows new Feoffees the properlies owned by the Feoffee5 in ￿ntral Oxford. and they are brtefed vn the . accounts. The Feoffèes of The St M￿Chael'S and All Saints. Charty are also Trustees of The Church Houses Relief In N&6d Charity. and all meetlngs are joint meetings. Full meetlngs of the Feoffe&s. referred to as Board Meetings, are held quarterly and additional meetings are called aÈ 8nd when required. Major decision5 are takèn at these me$tings which ensures that the Feoffees exercise full . and effg¢live control of the decision making process. Five Board Meètings were heky in 2024. These meetiftgs are . preceded by meetings of Ihe Property and Investment Committee, foTrned in 2021, of thos& Feoffeas with skills in inveslment and propety managernent, to CDnsKler in datail financlal and investment m8tters and to make recomm&nd8tions to the following meellngs tts the full Board. Tha F80ffees havè examined the prfnclp81 areas ofthe Ch8rWs operation and considèred the major risks in these areas. The Trusteès con5Kter the Charity's systems to be such that thèse rigks are mrfy8ted to an a(teptable level. During the year, Professor Katrin Kohl. Vice-Prin¢ipal of Jèsu5 College, until 30th Septembèr 2024. and Professor Mark Brouard, VIc8-Prinoipal of Jesus College, from 1Et Ostober 2024. attended mèetings in place of S5r Nrg&l ShadbolL Objèettves and Activilles . Summa of the ses of thè ehaTI as set OLrt in its overnln ument In a¢¢ordance ¥wlh the terms oflhe Scherne income otthè Charity Is applièd first to the Maintenan￿ ofthe property of the Charity and lo the expenses Df management of thè Charity. It is then applied to defray the cost of repairs t the f8bric, furniture. frttings and organ of the Parish Church and of insurance ol th2 Parish Church, to thè rnaintènance ol music and Ihe provision of music therein, in Std of the stipencls of clergy officiating at the Parish Church, and in making grants for suth religious and other charitable purposes as the Feoffees decidè after consutstion withthe Parochial Church Council. Although the charity has wide discretion in respect of rnaking grants thè Feoffees have focussed prlmartly on assisting charities 8ddres5ing IDcal needs.

Sl Michael's and All Saints, Charittes Church Branch (The St Mleha•l's and All Salnt5' Charity) Trustee5' Report Icontinutrdl for the year èndèd 31st December 2024 Summa of th8 main zctivilies In relation to those es identified In the a¢ttJu ts oses for the ublic ben8 artlcular the acbvi To defray the cosl ol repalTS to the fabrlc, furnltura. flttlnos and organ of thè Parlsh Church and of In5uranc¢ of the Parlsh Church Thè Pkdsh Church of St Micha81 at thè North Gate is situated in the centro of Oxford where 115 tOW8F, built short b8foF8 the Norman Conquest, Is the oldest surviving building. By eoverlng the costs of r8pair and maintenance of this historic churGh the ch2nty ensures that the ¢huiGh in a fit slate to allow public accBss Ilncludlng tourists, worshippers 8nd those seeking a quiet SP8cel and that the church continues to host an Rctive cornmunlly in thè heart of OxfDrd. Thè public is Served through thig programme ol conlinu&d maintenance and improvement in variety of ways. It enables the church to be open every day for personal qulet and prayer, lor Ihe 8njoym8llt ol the hist0￿Cal herllage, for providing open and accessible servic8s of woiship and tgachino on Sundays and dunng th8 Weèk, for the holding ol regular cultural aclivitl8s and mgking the buildings available for hire or free use lo groups serving the needs ol the communty at la5gè. The total expenditure in th8 yèarforthus purpose Ilnc¢uding insur8n¢e, IT support, expenses and repair51 was £112,27312023'. £44,986) IrrfJte 141. In addition, £50,000 was Set 851de for the Church Reserye Repair Fund12023.' £50.0001, which now l018ls £150.000. This fund exists lo covèr substantial coots c.f repai:-£ i. .e CtriJr.- be foiJr.J na-= ->sa.Tr i.. jeal> to cor. l)re iniorrr=u b￿ fau..d i. ."eFar. of -".e a.x)Jns o-: the P2roch4=1 Ch-irch -our£."l o-. St r.i:.cheel 8t t. e NJlh v¢.: lar.n anc Ml Sain-.). To the mainlenance of music and the provision of musie at the Parish Church -. he b1=r".t￿ S￿P￿)￿s the nus'.c at St 1..1ichae.: £ ' W'"eri-g th2 U)$￿ r. rb.e Di-ec:o.- Gf F•..u?IG. OiJaiis.= tifid l .e profes¢i -al Cjlo i. Thece '.%'era £iO.£'8 n 2.J2L (2IJ23. ¢J2.8?￿"; Inoi• 14-: The -kia 1 Serve) the orsiip)in J cor.mi ril.y atJt P.1"" .ae's b.1 legding tb.e cong.""ga-""on li SL40 oerkiie5 and pro'.'xii..o'.ul.. cJral iervlCJts Ilr.. c￿"11 a ..d tsxea¢jS'e to ¢". In aid of thè stipends of the cleryy offiGiating at st hlicF.ael at the North Gate The chariL i pr)vides an horicrar:.Jm fc:- ttr.a Iljpa- at ￿t ¥1ibhaÈ.' al the N-.Lh C-. e ￿%..elIrI9. d aryd !xFon>e5. I he cost cf th s fJ-. Ihe lea". Vi2f f J4.0*£ ".£J£J". 1.21. -e Ic .croriLP. for - .e 11p￿. is paid tc the Ji--ese is tiar. rospc.-.5ièle fo-. ?2I..nc +P.ts .l.:car a rerJlar st.p8r.e_ Trils IS ¢19r fican.- i. a.:..C￿.ri9 sp l/ic. ael's .9 con-.InLe '"0 s=rve t C?7￿[e)atiOn. p?risfi and ￿lS Lrs l-a th- ci:"5 ceThtie.' %%ltntsd: :his cc.-tritJ:-.or i-. --s c-Jrreri.T> . that ti45'" 5t.peiciar4 p.'ergy cob-"d allo￿a,￿- its Ib.e chJrch tsji the Dicc£se in Oxt.IiJ. pernanent iconts v.'itii.-. the Parish b￿. .eariec

ul thts Bi¢fiOP o-. Oxf -e racGc.1￿es the F.JrRnce ni S: F4iclael's ir. s"" Fp-li. IJ ￿ e puJlic beiefi ?y rnuans or_O="-￿.￿ Ilicar 5 rJle as City REc￿.- iin th& Ox..c[f% i Ccu .c-1. 2nd ￿115 PaSiO--èl ".elabcns'.ith city cer.tre buoir.es¢es 2.ij & s-.Icr5. In making orants tor other such religious and other ch)ritable purposes a5 the Feofloes d•cide (in consultation wlth the Parorhial Church Council) Th.e orig%iial epdcwTients ere ￿ ade bj Cl=izcis Jf Ox:o"ia and are Tr.3ifi'V represonteG by P'o=.erbtss cloo&-.) Ihe ￿ntr& p CSari.I s -rriJriate '.n tF.at tb.e ir.=0￿￿ frorr. 18s aDJ .?14e". in•es".rr.&p.l¢ -.pr m3r "a ec -..e ex￿".-￿:.;J-È need&fj t_ ￿￿￿e.- 4 C a"￿￿e. e￿1b'In._ i- t) mace . .-an￿ icr rei.J gus ar￿ .J=nèr chail:?bla pbYThces in :Fie -ub.ic i .tercot. hari:." p"O%ioe. aGditl.l21 5_F?-.-t "or the PariSfi o.. St 1rf1ichaal'g in f.J-m Oi L78.4Y1 ..J%'ard¢ the $8".2r.as c¥ the-. aacuie". hJ."ch adTr.inistratgr anA kn ..ufknh kna"etaker. icar iri hd>'A.ork !L02J.' £81250,. A fU￿h￿rr?1.Cio +.."3s dis-'jJi.t&d ill ¥-ano 18 ihe .•l:-.C_SaÉnials.-unc. T.. r.ee*• .'crosh re CoTr.rn'Jri.b' poun¢atior. ana il's ."re-I r:.l¢na-I pos'.tio. raji aid grap. Tr.e trustees. t..iianc al s".tuai.Jp. is cons:.dered beloi% knnde..Achipvwnenlo arid Perf0rnai￿. anG Finar. ial RÈvio

St Michael'$ and All Saints. Charitses Church Branch IThe St Michael's and All Saints. Charlty) Trustees. Report Icontinuedl tor the yèar endèd 315t Dècember 2024 Publlc bèneflt statèment In exerclslng their powers duties the Trustees have paid due regard to thp guidance on Publ￿ benefit published by the Charity Commission. E8ch of the aims of the charity has bèen direrted towards the PLFblic benefit in the ways déscribecj above. Achlevèments and Performan¢e The Feoffegs manage the Charlties affairs èffectively and efficlentty al quarterly rneelings reviewing finansial ststements of Charity asts, cash flow forecasts, comparisons of income and exponditure with the budget for thè year to date, and revised forecasts for thè financial year end. Cash ffow.forecasts are accompanied by explanatory notes s8tting out thè assumptions upon which the foFÈcasts a￿ based, drawlng attention to where the greatest iJii¢ertalntles in the forecasts lie. Aftèr 8 review and ca￿lu1 consideration of the financial position. and after meÈtin9 the Charities expenses, the charitywds able to maintain fiJnding forlhe PUTposes get out in paragraphs A lo D abovè with net inttome of £96,836. A degree ol slabilty ernerged in property income in 2024 with all propertiès letalthough rent-free periods 8ssociated with new lèases saw lower income in year compared with 2023. During thè yearthe Charty undenvrote substantial essential repairs and maintenance lo the fabric of the Parish Church of £g3.49112023.' £22.0621 along with afurther £50,000 set aside for the Church Reserve Repalr Fund (Note 131. In adrf11￿n, the Feoffees agreèd a grant of £30,000 to Tha Oxfordshlre Communty Foundation's Living E$5enlials Fund lring-fenced to bèneficiaries Sn the City of Oxford}. Organi$ations that have benefitèd from grants awarded OCF 8rÈ'. The Porch. who supports peopl? who are homeless and vulnerabty housed through day Centre provision, providing cooked meals. hotshowers. clothes baftk. laundry faeilities. social activities and intsrnet access., Rose Hill and DonninglDn Advice Centre, who provide5 expart advice on. debL benefits and housing. The grant 6nabl8d them to in¢rease staff hours lo support inereasing numbèrs of ¢lients. In a letterto the Chanty Commission >n O¢tober 2023. the Feoffees sat out 2 detailed caso of their view that itwould be advantageous for both the St Michaels and All Saints Charities Church Branch with the Church Houses Relief in Charity to bè administared as one charity. under a singlè scheme, with 8 single sel of ¢haritable objects. The - Feoffèes proposed that the Charitable aims ol both branches would be better proteoted and both more re5iliantand flexible for the current financi81 ctimate following a mergèr. In Octobèr 2024. the Charity Commissior> prgp05ed maknng tsne scheme that governs both ehaTilies thatwill be able lo give eff6Ct to the transfer of the benefic181 ownership of the assets of the Relief charity into the Church charity and the change of objects ofthe Church charty and attached a draft scheme for the Feoffees considerabon. In orderto proceedwth aformal applieation for a scheme, th8 trustees made 8forrnal decision to applyfora scheme allheir meeting of12 December2024. The meeting was quorats and Iwstees were made 8ware thalthis application would be made. Trust&8s nolalthe 12 December meetingwtrre told and confrmed thAtthey understood the decision being made. Th8 Feoffees ar2 in discussion with the Charity Commisslon regarding the best rnethanisrn for achieving the new schtrme before the formal application is enaoled (see Plarkg for the Fubjrel. The servic6s of the Cjerk are made available at no u)51 to The St Michael's Oxford Educational Trust (prior to Octob&r2023 thk* role was undertaken bythe Assistant Clerk). The Sl Michael's Oxford Educational Trust is a small trust awarding grants for educational purposes. five of whosè eight trustees are also Feoffees.

St Mi¢hael'5 and All Saints. ¢harltl•s Church Branch (Tho St Mlchael's and All Salnts. Charltyl Tfustee5' Report Icontinuedl for the year ondgd 31 gt Dècember 2024 Financial Reviow General Th& ChBdty's income ha5 decreased in 2024 lotalling £560,661 12023.. 667.264) due to rent free p8riods following th8 grant of several new1ga$es thrDughDuI the year. Whilst in¢omè str6ams have been somewhat fragile ￿eT the s..cw thth benalits ew.ergiTrg f..)m rea1ioaion cf Ih.e aims 9! the strateg4n rev!¥v4 of :1sm: prJ'e¢:'ons fvr 202k k their p."opArty li.ol lag".eed ..n 2J221 raTe y ￿ ?'•JiIiE3 arj reD￿la11¢0 reil pa5'"ent5 ￿..r￿Jg4 rerieoo."a:'.)n o-: lea5Q5 ro4.: .e Tr￿stee) li veslr.ants.' t- 3ctrI'.eve a .Ta"e .'ts-ryeri P rvo io oK."tstall t.: rtsJLl-jp.￿ EX CC -'J pfJpei. es.. 2n.:.) in. è!a>e:.le I q'aidi'.Y O-. iJnrè5Th-tec reSe-￿e$. I b.a kn...8-: trj 15 alsc ￿-. .Jertak.r J a -.Jll ."e'.¥"W%% _f i's dJpfu2cf. 2nd oF-Ibns re Ja"-'ng ciiers f.-2tion cf ..P$..TEn￿ '"0 i_Fon in 2￿2￿1 Sui ..J LOL i."eÈl)Ic o,. th C". - -rtfity"S )-1.. lea)e. ol prJAet.' ￿8$ cbt3ine.d as rt o. the Chairyiy's iong-ErTr- stratecs nab:.ng P1 ￿￿'j51/. een -ie o oi the C-. aritry on a £OfrJ Trear leé5e isee Note Re5Er¥."as F)l..- '.y nai-. taif5 T&￿TreS 59 :.￿1 I can ccnti-.ue tg idlfil :he ains dev-ibed ..n tle Public Benef".t St8temDIt -c.d":.g cf such re- rtres & &¢p8cia.'Iv .nF-rtari: _ reaei trIa￿e ".eep invaiuabio in sa.e Ju3rJ fj. the -ia:"l%j a9= iri5t baD thè u.-,fGieseen Gra￿ .n In￿One ca.J>èd bj Se￿&ra'...a-tCrs. anc pcte...t"al iai.. jj&s ts-"a:e5 on pmpty p."pe"Iits. The Feoffees are unde.￿aK1-.g a--egblar.-evie4 of ."ts Re￿rVeS Pol". s in liie ￿ll) C￿téd ￿ar_ ef its r&s9. lJr inve>trreiil in Jropa1'.i ald seciJ":- es els Sri￿A.- i%'..Ih.:r. de5iai- ¢s. If -.ed Je in':èstsve .to w.tkin su. . i Jesxinatej TJ .ds c8fi regj oed. e.. at.1 n9 the proc?&ds Fc b•.xme'trAe - tr.e T.ean- t ,- cr3-tr￿ .. '.11 seek to i)ai-:ia."- t.".& djsigfiatec fu-4s ¢. a "e￿e.. th3t is. r£Jei ie- ￿1th trie in.-c.ne:-om the permaneril e=. du%%rnrni. sufficiEnl-.o Tiee4 ￿￿tr. ex..Sufig an.J In￿￿e8se￿ ae￿.an￿8-:0r >U)PC.rt. the ￿na of ￿e￿¥M￿e." trie taja. .￿ IAir ss Jnre5tr-tgG ndE bvas £- • Ga6 88£ :.¢C.23.. £4.8-5.E-C.I r.T i%hi.-h -20." £1 '.41.461 i ara reg8-ded a5 ..?2 reipr.'es INThte lil. Frse rL&oerv£&s ci&: .0se u-:reol.".c:Ed-Lntt¢ £1.184.30a 12-" not inveo.eJ."i A...!j Jle .'x=o a=•es or:. in￿0￿rie17lS.-r￿e re¢epie5 exclude re51ri&le(i fv-:41s and fuids desigrateo . 5peci.lc F'Jrpcsea or_IFieiTrise ￿[r.[rI...tlec. Ir gdGi:i)-. In a-ca-: t. ?resoryl.'e-ri¥ IF.e true free:"esEr..ps ?GSI:ian'.n th. ..ue 8yeup.le s￿h unrè5JlCted fu. d5 aa are.rpreseAte trv ixe assets j..l%'8s)e .to ha￿e ieen xa sferreJ in-..? Saua:-a'.e d=s:.Jn=-.6J"ur.as. T .0 ntit as3e:. ana.'>a'. .'a src%4Tr in note -Id fiC:'em8-. :s abfifiS ":.e >28r a e shO￿n li p_te ..J. ..nc(XT..e ￿er￿-ated bs.":he aQ5e+s 14 th- Je5.:1 a.:e.J fL.IJs."o 3)plie EO ￿.e :"n-ec-.rctec func i=.. ttrie ae>": atricn apP.Il.ia o￿le..￿ l) th- capi:a.- 14alue.f th￿ ass¥￿ it renrese.its. I u..resiriCied fbnd exran.jed tr4Dq.925 ..£0£￿. 5.2ei i 't,.Is.: .nGJT.i.-g "s_jrces %%ere £56 ..a?1 1£.J2?. ¢6u7 2￿4). JAI ner rrvYenKsnt in . i%as r96.e.3 -fore th(% -.-ansie."a of l.ie deo a. 3ted Chu:-ch Re¢orrfe 'nd In.: 5tr-n: pu-.Y 12fj22 tr£Sa )6J,' T". de5..31."tt.eJ "es:r)ent funa ". ad nèl Jai o¥ r4.".49 a3in) O. -"arJ 9jaj Cue tg rea.ised aTrc L.r..r&a.isad irrYestrnE. t oai..s O- LJ.496 :"2C2-: c.ains of £ao.¥i5 j. Ir. addfiion. '.n 2024 therts'+Jere r￿e0 2)set ra. -vd uaiiin gains of Lni:. i£?23" oa¥ns 91 .9?Jl-NJle 131. ?)rn8nen= E.-.￿￿$￿ent p he P!rTr.a4&n- En¢.J%%rr.ent fvr..d i%h.cP. is in ifie axounts at rpèrfrfet ￿alUe. iricreaseJ in value bli r17.292 ?CL3." 11.crease cf C1.8-.0.Cil.u e¥£."_"at"cri.J&in5 0-".nves".rr.É&-t5 .292 .211£.: O-. £5D.356'. INote ori-xikd aa>et revaI￿￿L￿ri in 2i2L i£C2i- ca".n o! L1744. J441 rrk.oia 21-

St Michael's and All Saints. Charities Church 8ranch (The St Mlchael's #nd All Saints. Chartyl Trustees, Report Icontintsèdl forthe year #nded 31st December 2024 Investment Polic It is the policy of the Feoffèes to invest theirfunds in property or)d other assets so as to gerierale sufficient income to enable the Feoffèes lo meettheir obligations lal to dèfray the costs of managing their property and Ih05e relatecl to the adrninistralDn and managgmenl of the Charity.. Ibl lo meet the costs of repairs lo the fabrtc of Sl Micha91 North Gate and the maintenance of ils servit8s, including the provislon of music and related insurydnce,. Icl support the stipends ol its clèrgy: and {dl subject thereto, to generate income to fund donations to other benef￿larIeS of the Charlty. at the same time maintaining the real value of the capit81 of the Chartty. The Charities investment holding5 are pSaced *n the COIF Charities Ethi¢81 Investment Funds whieh closely follows the Church of England Ethical Policy on investments. The Chèrity is engagèd in a strategic review of Ils asset holcfings ItD report in June 20251, the incorne of which is used to fulfil the charrtable purposes. The purpose of the review is to 8nsure that thè Charitys Iwestments allow for the continuation of the charitable aims both now and in the long-tenn and includes dèar plannlng to optimise InvestrThenls, manage risk and establi8h polTcies. 5ySterns and processes that continuously improve perform8nee, reporting and monitorfng. Pro Investments The major source of the tncome of thè Charity is rent received from freehold and leasehold propethes in the centre ol Oxford. In view of the need for decislons on property matters behveen meotings, the Feoffee5 have a Property and InvÈstment Sub£omrnittee comprising four Feoffees with experience and expertise in property and investsment matters. togèther with the Clerk. The Feoffee Board dÈl￿a￿d roubne deBisions on property matters to the Comrnittee Chair and the Clerk meetings take place in the run up to full Board rne8tings, al which ¢Otnmendatlons of the Committèe are considerèd and acted upon. Rènèwed interest in the City centrè has resulted in all of the chaT￿ty.$ properties being o¢wpied throughout the year, with improved rental incorne,. a testament to the propety strategy. developed by SavilLs. chart8red suNeyors and propety agènts and adopte(I by the Charity in 2022. The Implemenlalion of the strategy is ongoing. induding in 2024 the purchase of the freehold of the only leasehold property a5 mentioned above. and Is revièwed annual and monitored by the Proparty and 5rivesbment Sub-committee. $8vills are engaged in the day-to4ay rnanagemÈnt of the Charity's properties. the aims of this servicè are lo ensurè th81 relations with the trustees, occupiers are conflu¢ted, and the FÈoffees' obllgalions as propety owners are met. in a professional and timely manfter. The Chair and mtrrnber5 of the Property and Investment Sub-committee and the Clerk meet with Savilis regularfy to fvrther monrfLor progress and performance. making reports and rècommendations to the Property and Investment Sub-committee fordèC￿lI)￿5 and action. The Feoffee 808rd are satisfied these aims arè being achieved. . Portfoli . nve5tments The Charity's portfolKTr Invèstments are all held in the COIF Ethlcal lftvèslment Fund. At the end of 2024 investsmènts held by the Charty, excluding property, increased in value by £61.77812D23'. increase of £147,315) troote 41. Poli rant makin in p￿V￿ou$ years, as well as payments made to St Michael's at the Northgate for the purposes d&scrib8d in paragraphs A, B and C on page 3 above. thè Feoffees provided aiyditional support ftsT the Parish of St Michaels in the form of £78,477 towards admlnislration salaries12023'. £81.2501. In December 2024. following a revlew of th¢ Charities cash Ibw projecknons, the Feoffees decided to partnèr wth the oxfordshi￿ Community Foundation. a philanthropic charitable organsi3tK)n. A sum of £30.000 was awarded to their Lwlng Essèntials Fund which supports people to tackle homelessnèss, and unaffordabl8 essent￿1$ such as food insecurity and warmth. The Charities, grant to the Livings Essential Fund was ring-lenced for eharitsble activithes in the Cty of Oxford. The effectiveness of the approach will be reviewed durlng 2025. The Feoffees are considering the Ch8riti95 current finanual Kxjsitson regarding grant awards for 2025 as well #s undertaking a r6vi8w of #ll systems. ￿lie1èS and processes.

St Ml¢h8el'$ and All Saints. Charitle Church Branch (The St Michael's knd All Salnts, Charity) Trustees. Report IcontinuBdl frlr thè year endad 31st D•cembgr 2024 Plans for the ftrture FiTralising and implementing the strategic property, inve51rnEnls and reserwes reviews describèd abovè NTrill lake pre￿dence over thè comlng rnonlh5 to slrEnglhBn the Charllies apprciach lo the tll8nagement of investments and reserves and distribution of income lo en5uie Ihp IDngeYity of tre Charity ènd its comrnltment lo the public benofit as describe In A to D above. Tho Feoffees are ¢ommitted to ensuring a successlul mèrg8r of the St Michaels and All Saints Charillas Church Branch with the Church Houses Relief in Need Chaiily that safegu8rds the interests and charitable aims of both .irit:.É5. alè>j:. ri-r.r& ca..>pljr.ater oc￿&￿e. T..ie T>•ger": -.SC 3110F' s::eamlir".e"lie.'n81 pre t.: Sl4£teTI5 ..rJcesses: he.. efic e-: .v ar.J C￿rp.T..' -at1￿7 ana lu... '.SK. %TC.rk IS -Cil'. nuinG i-.h li. 5 iie".'ea in t e Mps- pffe-ti.¥e t..mal a￿?1.".￿:.1_.. iof ? SGheie. .n l.ne with tne Jecis..)n rnade in D￿￿[r.D￿r 2024. %ill De Tr3. de w.ien Jracess aoietsd.." thè fh8ritr' -GnTr.'.SEIOIl. Fundraising Standards Information hE Ld Ay￿￿ul1 lin J ie 5a.. ai[F.￿ab.￿s ￿ c ..a-.lies iri Ericla.. finarcial èihic. gis'- ap-Iic9'.iJp. cf resu -rces 9f '_-e Gtr.ail- ieqiirey n- rf%o.'e5 ielairei trustees ￿ p".eFa.-e firJan4•15.. Statetneits -:01 ea￿Tr 'he s'ate J.. aftairs nf tr.." ￿harI-.￿ and cf :.tr..e incoTiifig iesoknr-&¢ ".tsi :Piat peilej. In pre .aring ￿:￿Se finan-ia.: otateTr_tsits. [:-" Jsiees are 5elec=_u.:tsbl" rJCCOU.. ti-.g Ptt.:.l-->S i7 d-rie.1 a obae. tne n>tr)CS and )ri..c..pés i... t:.ie CiGri'. e< sO￿P 20"") :"FRS 1C"£j'. P12ke jics:, Ftuder.t'. si-'.e ." .etrtsr ."1cc￿le axc.u-" nc ¥?ndarcs iave ie¢&n f-.l￿0d. sbbiect ari> maier.Bl deoartJres d >cIcec arid -xp- -ett i-..he..ria-. .-epare the F.nancio SR:trf.tsnts o.. L-..e goir.g co.-:pr.: trasis un.ess ..[ ks inGP Charit￿ *iil-. cjntip.ue in b .ropriat& IJ p."esuri.e tsl t4e he L=u5tee> a."e respcnsiy.e for KèeFint accounti. re(b".ds tha- di?cbs8 V..rth rea>ofia)le a¢cur#Cy al apy time ttrie finGncial pos-.l-. -ty anc eDe-le thern to e.5ure Lnat the financ 21 stai"neri'6 w￿p1￿ s%ith the C.-.a-.itie5 . tLJ11.trye 13.tri ..p.¢￿Untc %epclo;. Reg.laliy.iQ 2CJ8 ￿.? )roi."j¢lOla of Ihe:.ru51 deed. I he" rettFofiS.S v-pr oefBsLarJ r..g the assets Jf -le charibj and h. e fo.- taking reascpable 5te)a for tb.e dr￿￿e..It0r￿ and d&lediori of -.aJd a-: ￿ O￿ler 1.-:e￿.Ui￿...: LouÈse Packer Clork to tr4e Trustees 12L-. June 202S

St Michatl's and All Saints, Charities Church Branch (rhe St Michael's and All Salnts, Charity) Independent Auditors. Report to the Tru$tee's of St Michael's and All Saints, Charities Church Branch Opinlon We have audtted the financial statsments of St M￿hael'S and All Saints, Charities Church Branch Ilhe'charity'l for the y&ar ended 31st December 2024 which comprise the Staternent of Financial Activities, the Balance Shèet. the Cash Flow Statement and notes to the financial statements, induding a summary of Significant accounting'pollci8S. Thè financial reporling framework that has been applied in their preparation is applicable law and United Kingdorn Accounting Standards. including Financial Reporbng Stsndard 102 The Financial R￿Ortrng Slandard èpplKable in fhe UK and Republic of Ireland (United Kirjgdom Generally Accepted Accounting Pract5cel. In our oprnion the financial statements-. gSvè a true and fair vlgw of the state ol th8 Charitys affalrs as at 31st December 2024. and of ib incomlng resources and appliGZtion of rèsources, for thè year then ended.. have been properly prepared in accordance with United Kingdom Generally Accepted Accouning Practice.. have beèn Prepared in accordancè with th& requlrements of the Charitiès Act 2011. Basis for opinion We wnductecl our audlt in accordance with International Stsndards Dn Auditing {UKI {ISA3 (UK)) and applicable law. Our Tesponsibilthas under those $tan¢Jards are further described in thp Auditors responsibilities forlhe audit of the financial stslements section of our report. We are independent of the Gh8riiy in accordance with the ethic81 requiremènts that are relevant to our audit of the ffnancial slalements in thè UK, insluding the FRC'S Ethical standard, ancl we have fvhllled our other ethical rè5pon5ibilllies in accordance with Ihese requirements. We belleve that the audit evKlants we havè obtained t6 sufflclent Ènd appropriatè to Provide a basis for our OPTnion. Conclusions relatlng to going concern In auditing the financial stalementg, we have concluded that the trustees. use ol the going concem b35is of accounting in tha prapsration of the finanryal statements is appropriatè. Based on thè work we have pèrFomied. we havè not identnled any materlal uneertaintles relatlng to trvents or Conditions that, individually or collpctively, May east significant doubt on the charity's ability to continue as a going concern for a period of al least ￿e1ve months from when the finanaal statements are authorised for issuè. Our respo1￿1b]lItIeS and the responsibllitias of the trusteès wlh respect to going concem arè described in Ihe relevanl sections of this report. Other Inforniation . The other inforniation compri5e5 the inftsrmalion included in the trustees annual report, other than the financiAI statements and our auditorfs report thereon. The trustees are responsible forthe othgr informalton ¢ontsined withln the annual report. Our opinion on the financial st2ttrments does not cover the other infomiation and. èxcept lo the ¢xtent otherwisè èxpliciuy stated in Dur report. we do nDI express any form of assurance conclusion thereon. Our rèsptsnsibillty k% tts read the other information and. in doing so, consider whether thè other infomation is rn81grially inconsislentwilh Ihefinan¢ial statements orour knowledge obt8iftÈd in the course of the audit orolherwise appears to be materialty misstatÈd. If we identfy such material inconsistències or apparent material misstatèments, we are required lo determlnè whether this g￿&$ Tise to a material misststement in the financlal ststements thèmsefves. If. basèd on the wort( ￿ have performed, we Condude that th&r8 is a material misststement of this other inf0M￿lI0D. we are required lo report that la¢l. We have nothSng tr) report In this regard.

St MIBhaal's and All Salnts, CharÉti8s Church Branch he St Michael's and All Saints. Ch8rlty) Independent Auditors, Report Icofttlnuodl to the Tru5tee5 of St MiGhael's and All Salnls, Charitie$ Ctlurch Branch Matters orh whlch we are requlred lo report by exception We have nDthing lo report in respect of the following mBtters In relation lo which th8 Choliti¢s (Accounts and Reports) Regulgllons 2008 requlre us to report io you if, in our opinitin.. the information givon in the financlal statem8nts15 inconsistent in any matertal respect with the trust8es' rÈPDrt.' or sufficient accounting records have not been kept-, or tt)e financial statements are not in agreèmÈnt with the accountin9 record5', or we have not r8ceivèd all thè iftlom)al3on and explanations we require for our audit. ,: Rpsponsibllities of tTUStees rkn YXJ 31-: ec tro-E fu lj .'n trie trustees. responsibil￿e5 staterr.ani Set out on )age 7 the trus￿5 are'.e?".)n<ible for ID pre?a_-3i Jf Oi ". ¥￿te￿￿-.￿ ar..d':cr ￿ttirIa Crtlisiea that {￿leY.￿l.￿e a tr."è a-. l 7irki=s%. f)r SUw."ntema itlJ'. 2s - ."e Irus.Ees cetei Till e i) nece?"¥i elia :e Lie FrfrF4ir die free fro￿1 rriti eria. m.ss￿￿￿&rt: A.he":" fpud errc.r In preF2."Ir..g Ik,a finariciai slatemens t-.2 tr￿sleS are -es cna Sle for as5essifiQ:he =harity'S 2)"lity' to COlÉnLe as !yinc. concern. disc os.79. as aP￿1""C(￿b1¢& nsfers re :ed to c .nc. c- tsrr. and usip. J - Join9 An￿1n baEj5 8C-OL-lir. J 'dnless -"P,J +ruaiees J thei .'nte-d t) .'qvlGatE ttrie -tr.a":..4 O-. J G?eTa': e no ."ealisbc .tur.ia- ¥e JU.: io d? 5J. Auditor's resPO45ibilities for the audit of tha finankn4al 5tatemeThts -abe &ee.- a in-Ld s aucinr ur..-.e" se￿"0-.: 1. 4 Jf t.dg C..ari:iea Act 2011 and r￿￿-t in apcordan-e '.*ith -7 154 af th=1 A.c:.

rnaoe LP...Jo" ¢cti-. Our Jb:"ec"ve> a-:e obta:r. rwascnaSle assu.ance abBJ jl'A'..e' ._- tP.e fjnancial S:3teyen￿ as a ￿lf1￿￿e ar& tree from "ie:het to ."au.4 .Jr e"ror. a-. J trJ "5S_e ap. tJkndi1gfc ."¥por. 3l ;. '.Jce) yur -pi-.i-n. ReasJrat.le acEu-anc4 it h"'oh le￿61 ol asi rai?. .U' 1> n.-.i & g￿ran￿ts - -a:. an audii Conc.￿cte. In accer.dance i a T¢.~ .-1 n"ssthie.. .4iss-.2ieTieil.È ariae frgm frrrariCE'. e￿Ie￿￿'.r. .'ri&ii clai s'.21e￿..erlt ￿disCIC$ures aro Lf&St4nc to suFpo-ting cocumen'alion tG assess Cal￿1:.￿rIce Fitil pFlicaTh1e--a￿0 aiid res. Ferfkn"p.".r J OJ. 18 5rf-?f Tiariactsmenl G¥e".rido o. (>J.-tr(ks. iriwiUCI- J lesb.- J.)f j.)lJrriai ontries nc ￿tne." ay.uc.Jr_￿-..t5 far aJp-:op.-'.a-.rness. eNralJ81i..g bijal .e50 12-.or..ale c.l ¢..Jn."lipAr.l iransaGlior.5 .?utiid8 ttr..e nc.rnai coursa of uUS'neiS a..a rol....EFin￿ accJi""nJ-sliT.al£&¢ iar ts"aa. Be￿uSt￿ o.: jihere.-.t I.:[￿ tatic-:.s o.. a audi-.. there .s a risk -trA:" s%jll.Wi (te:ecl a".1 irrebula-:i::es. .:n luc-.nJ"hose le2dir.g tJ g:eri-I n. .nanci?I slalerranls cr nOn￿o[r..1"3-￿ osth reouo..on. -h 5 sk ir...-:pase5 the nOrA bp)- tsrr..p.iai %frr... a ali ?[ .e5￿,.G￿On is reno" ed frcn the eiients a nc8c..jDDs re-.evie(i li -.e il¥£S iiceiy :o De.orrJe 8laie o. ".n¢-.ances Jl ...on-ccTFlIa-: risk is a. rie9u'.2r:iei a.-cu"-.'ng (kue :o fra'.d -:3-. ior." an Errc.. ae fra "o irivo'ies i-tentlGn&l -cicea m-nti Ilb5ji)n. -TiiSS cq cr rr.15r￿-reSeitgIIOr.

st Michael'5 and All Salnts, Charities Church Branch rrhe St Michael'5 and All Saints, Charity) Independent ALTditOTS' Report Icontinuedl to the Trustees of St Michael's and All Salnts, Charities Church Branch A furthei descriptton of our respDnsibilittes for the audit of the financial stattrments Is lo¢ated on the Financtal Reporting Council'$ websltè at ww.frc.org.ukjauditorsrespgnsibi1￿e5. Thts description foms part of our auditorfs report. Use of OUT report This report is macle solely to the charity's trustees. as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Ourauditwork has been undertaken so Ihatwe mightstate lo the eharivs trustees tt)ose rnatters wè are requirèd to state to them In an auditorfs report and for no other purpose. To the fullest extent pemittèd by law, we do not accept or assume responsibility to anyone other than the charity and the charit￿S trusteès 3s a body. tor our audit work, for thls report, or for the opinlons we have fortned. Wenn Tow Chartered Acetsuntants ond Statutory Auditors 30 St Gile5 . Oxford OX13LE 12th JLtne 2025 Wtsnn Townsènd eligib￿ to Oct ès an audttC>r in tèrms of section 1212 10-

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St 141ichaÈl'$ and All Saints, Chartties Church Branch (Thè St Mlchael'$ and All Salnts, Charlty) Balance She 31st December 2024 Note 2024 2023 Fixed assets Frèehtsld and lfrasehold properties Fixtu￿$, frttings and equipment Investments 11,185.000 11,175,000 1,473.790 1,412,012 Current assets 72,658,790 12,587.012 Cash al bank char￿e$ deposit fund Debtors and prepayments 23.890 1.200,225 356,446 157.118 1.230.225 54,360 1,580.S61 Current liabilitles 1,441,703 Creditors 1246,2581 1194,2361 Net Current assets 1.334.303 1247.467 Nèt assets 13,993.093 13,834.479 Finan¢ed by: Unrestrict8d funds Designated funds Permanent endowment funds 7113 7113 7113 1,184,303 3,812,579 8,996,211 1,147.467 3.708.093 8,978,919 ' Total funds 13,993.093 13.834.479 '" The financkl ststernents were appToved and aLrthorised for L8sue by the Fèoffees on 12￿ June 2025. Signed on behalf of the Fèoffees R F Sheppard "' R Loseby 12-

St Michael's and All Soint5' Charities Church Branch Irhè Church Houses Rellef in Nped Charltyl Slalpmant of Cash Flow5 for thp year ènded 31st December 2024 Re¢onciliation of Increase In furbds to not cash Ilow Irom operatlng aetlvltlès 2024 2023 Inc-.E?oe.'n fL"TrCS -•aEÉ&I i derr*ooe.:n deb'.cr5 ase.. iOJ-".ea¢e' n _ 1E9.914 13.-,2.Je.Sj 2.8":L £38 S+.JL91 1>4 £CT' 1"4.-:i1Jj 12.378.0,. losè Cl l.IveslT8nt5 Re'.Jaluotion loos on fixed assets Net cash flow from operating aetivitias C2sh flow frovt investlng actlvifles Inte..es-:.Y..￿ Céne5 le￿e...)d Ass￿10_dID0r. et ca¢P. flo.￿-"0M i..￿&￿tIn. 2kn1￿1..:" Increa5&'ldecreasel In cash 1163.2281 l)vew.8nt i-: 1ID3:2I81 441 7Cfj "el (astri at":st Ja.iuary 2024 1.387.343 9&5.635 Wet cash 2: 3 1st Decemkr 20L4

St Michael's and All Salnts, Charlties Church Branch (The St Mi¢hael's and All Saints, Charftyl Notes to the Aecounts for the year ended 31st December 2024 General Infomiation and accounting poli¢Ses Sl Michael's All Salnts. Charthes is reguSaled by a Scheme sealed by the Chariti85 Commlssion 18th February 1991. The address of th8 regislered office is gNen in the charity information on p89e 1 Df these flnancial statements. The following accounting policies have b88n used consistently In dealing with items whieh are ¢onsidered material in relation to the a¢¢o(tnts of Sl Michael'8 and All Saints, Charities. Accountlng bèsls Thesè a¢counis havÈ been prepared on an accruals basis and include income and expèndiure as they are earned or incurred, rather than as cash is received or paid. The financlal stat6mgnts have been prapaTed in accordancg with Ac¢ountiftg and Reporting by Charities.. Statemttnt of Recommended Practice applicable to Charities preparing their accounts in accordancè with the Financial Reporting Sl£ndard spplicable in the UK and Republlc of Ireland issued in October 2019, the Fin8ncial Reporting Stsndard applicablè in the United Kingdorn and Republie of Ireland IFRS 1021, the Charities Act2011, and UK GÈneralty Accepted Aecounting Practice. The accounts include all the transactions, assets end liabilities for which the Charity is responsible in law. The Charity constitutès a public benefit èntity as defined by FRS 102. The Trustees ¢onsider that the￿ are no material Un￿rtainlieS about the Charity's ability to continue as a going concèm. Fixed assets The fr8ehold and lèasehold propertSes a￿ held as Investments. These properties arè in¢luded at the 31 December 2023 Red Book valUatior￿ by Savills. The Trustees feel that there has not been a material movement in value Sin￿ that date. During 2024, the freehold of the onty leasehold property Iwhirh had prevKiusly been held on a 2000 year lease) was obtained. The propèrty is included at the 31 * December 2023 valuation plus the purchase price of the freèhold. The trustees obtsin professional valuatK)n of the investment properties each three to ffivè years. DÈpreclation Investment propèrts are not depreckted In a¢¢ordance with prevailing accounting standards. and instead r8vièwed for impairment at èach year end. Depreuabon of other fixEd ass&ts calculated to write tsff their cost or valuation less any rgsidual valve Dver their estimated useful lives as follows= FTrxttJres, frttings and equipment 25% Str8lghl line Investmènts Investments are included in the accounts at markelvalue. Reali8ed galnsl{lossesl are those arfsirvJ bttbNeen the sale of an investment and its value at beglnning of the year. Unrealised gainslllossesl ara those arising where the investment is still held but the value has changed. Income recognition Renlal income Rental income ￿ recognised by the period Ihe rent ¢overs. Grants payable Grants are accounted forwhen approved by the Trustees. Investmènt incomè Investment income is aceounled for on an accruals basis. Fund accountin9 il Unrestrictsd funds Unrestricted funds include designated fund5 which were funds set aside out of general fvnds and deS19nat￿ for Spe¢rf￿ purposes by the Trustees. -14-

st Michael's and All Saints, Charltles,. Church Branch (The St Michael's and All Saints, Charltyl Notès to the Accounts Icontlnuedl for the year ended 31st December 2024 111 Rè5trlcted funds Restricted funds are funds which have been ralsed for, and their use reslri¢led lo. a spts¢ffi¢ purpose, or donalions subject to donor-lmposed condltions. No such funds are Identtl￿d. 1111 Pernianent endowment lunds A perrnan8nl 8ndowrn8nl fund rnust bè hèld peM)artènt￿. The Income from it is unrestricted. Judgements and key sources of e5timatÈon uncertainty in a￿￿lICation tir. J - ICIES. ..e Fewfees ao req ired -n make j ugeme.ts. estiTiaJ a..Id aSQUTP=-> abcui t..E ca-.Tr ria aTiJJil cf aEsets a..J l a?..I".I hai ¢re not .'ediilv ¥pTharent TroTr. ':he'. aOU.-Ca- -he a¢tiTa-ed eni 8SSO-'a=&o a3siJTFtior.5 arr& baaÉJ- l?.orica'. ex. "ria.ICA ar J'her c..￿r5 y.at ap￿ cg.-.51c"ered to be reva:-i_ AC"￿1 re5UrtE fflaT oiffe-: from the5& es"."maiES_ ..T.3.vS anc ""nce".iin.! assJn￿•IoriS ￿..0 teb e'.4'8.Y an an cnsoi:-rtJ ￿51$. qe j¢io.rys tc. acc ur.tir.g -vl¢ jJr. aff&C￿ Jrl.: es.:-.t4atei ap -eo)5.115eG l.- trie F.--i_d in I.￿1￿: the tssb"Tiate 15 reijise.J %%here the r&. ?￿n￿d. Ji ifi lie the "eli o Jr anc. futdre.)eiiSC5 'è.'itsre Lie Tes".0 or.. aTfeciS uJrrevt anc fulJre Jer>n: triat 135 G signffil-ait ef?ct on anoui£..-￿G..ls80..￿1 tb.p fin3nc 21 Slatgn8nts io I".:è valiJ3 j.jn of iril."e5"TE-. pr pe-t.. rield b..:he claritv the of 2.JL4. 25 dptail&J in ..¢te 2. Freehotd and leasehold propertie5 1st January Addition 31st Oecember estnent Q10￿￿.. 1',.17-.O.JJ 11.1c£lOJ Current year split by fund Designated Fund Endowment Fund Total 2024 Investrreni Jrope-t.. 2.8?a.L16 e.348.78& 1':.18i:OJQ Prior year spllt by tsnd De51gnated Endowment Fund Inl.'tsS￿erIt Jroper 2.e26.2":8 8 3 8.7e4 Tne reoFfees arrang.e IJI an indepnd&ii vaiuats.oi of pro)en.ies on a qu:-iioue.Inial basls. The las:. Red Bo)k S¢ 1""> ?t 310￿￿￿Jiber￿o29 Tie-eoffeeslert. tthere has:-.): been 3 mg eria. -ceT.ber 2iJ23. OEtr.en." In". Eas!G on lie a￿0￿e i'a".uationa. Ihe Pbiveil }'"ar& .- re?lualK)ry gain olthe prOJ￿r￿1 in Ib.e D￿S.g.￿ated-.iIThI 15 £nil i4'_2"?: 623.9591. snd: e EnJcwrn>n= fu. is trr.. l [£023". One o- t-:- charity b WOP!r2es ia .ed '5J."50} byjI4 the Relief Branch. The'ialL.e Jl th"s Jrapori"i at the end c.f lie >Ea- as LLI.e2T 1£02i'. LJ.8m:. Ouri a-. e c"."rien- lear e re￿alU￿tIOn,.ass 01 .11..£023.' £￿￿7 14?¢" re.-_.3r.".Se￿. Jfi the C￿.L￿￿￿ <.A:. trie-.t or Financial M_tii."i: es. 7ie Frop"ty. is n-.￿ce(j ai the 71-. Dec-p.be- £02? R!c Bc.). lia. jalJJ.- by Sa.iills. Flus purcb.aso pripe o" trie frètihoid obrin 20£4 Jeina L2J.)O . i..-"u¢ed if1 J.iC.i e-. ep.:ilyl.

St PlJFchael's and All Saints. Charities Church Branch rrhp St MFchael's and All S8lnts' Charity) Notes to the Accounts (Continued) frjr the year ended 31$t De¢Èmber 2024 Fixlurès, fittings and pqulpment Total Brought forward cost Al 1st January 2024 and at 31st December 2024 Accumulated deprecSation Al 1st January 2024 and at 31st De￿mber 2024 Nèt book valua Al 31st December 2024 8nd at 31st December 2024 21,906 21,906 Investmènts Deslgnated Permanent Investsnents Endowment Fund Totsl Market value at 1st January 2024 Nèt gains on revaluation.. unrealised 781,877 630,135 1,412,012 44.486 17,292 61,TT8 Market value at 31st December 2024 826,363 647,427 1,473.790 The netgains on r8v8luation of investrnents including amounts rocord?d In the Statementof Finarcial Actwities n designated funds are £44,48612023- galns of £90,959) and permanent endowmgnt fvnds were g8Tr)s of £17,292 (2023.. gains of £56,356). . Invesfments held De51gnatèd Endowment Total 209,347 COIF Charftles Elh*al Invesknent Inrome Fund- in¢tsme 154.037 COIF Charities Ethical 1Th￿tr￿ent Income Fun(J_ aceurnulation 647,427 647,427 826,363 826,363 ' 826,363 647,427 1.473,790 16-

Sl Mlehkel's and All S21nts' CharLtle5 Church Branch (The Sl Mlchael's and All Salnts, Charltyl Notes to the Account5 Icontlnuedl for thp yèar •ndod 31st O•cembèr 2024 Dèbtors and prepayments 2024 2023 Under one y80r'. Trade dgblDrs nel ol provlsion for doubfful debts 01h￿r debors P:-eFayments ariG. 3￿nIed ir.come Amounts C¥ed by conriecled cha-ities 17,188 171 737 7.ODO 36.725 Creditors 2024 Amouns du8 i.-. res ect of taxa.icn a..J saruial pcui.ty Traje cre(iinrs r.d Jefe".:<>.Y inccme c.I￿￿r credito".s 6? 5LfJ 24e.2K8 Celerrec ..ne￿me consists of -ent in advanc&-_ Re[￿sE￿￿ frc.n ?revou5 vear Defr&figd i.- cu7ent Je8r 12).BOJ

St Mlehael's and All Saints. Charitiès Church Branch lThe St Michael's and All Saints. Charftyl Ngtes to the Accounts (Continued) forthe year anded 31st December 2024.. htet asset analysis- 2024 Freehold FSxturÈs and fittings leasehold and properties Èquipm&nt Net currènt assets Investments Totsl Untsstricted - General Unrestrictèd"Free' Reserves 1,184￿03 1,184,303 DÈsignated - Property Fund Investments Fund - Church Reserve Repair Fund.. 2,836.216 2,836,216 826,363 1SO,OOD 826.363 150,000 Endowment - Pemianent Endowment Funds 8.348.784 647,427 8,996,211 11.185,000 1,473,790 1.334.303 13.993.093 Net 8S$gt analysts- 2023 Frèèhold Fixtures and rrttings leasehold and propertles equipment Nèt current assets Investsntnts Total Unrestricted - General Unregtricted'Frep' Reservss 1,147,467 1,147.487 Designated - Propety Fund Invastrnenls Fund - Church Reserve Repair Fund 2.826,216 2,826,216 781,877 100,000 781.877 100,000 . Endowment - Perrnanent Endowment Funds 8.348.784 630.135 8,978,91g 11.175,000 1.412.012 1.247.467 13,834,479 General Unrèstricted Free ReseNès are thosè ftlnds freely 8vÈilable to use in connection with the charfty's prtncip81 aims and objectives. Designated funds have been established by the Feoffees for specific purposes as folbws:. The Property Fund has been established to report the value of pr()perNes not tomiing part of the pernangnt 8rKlowmenl. The Inv&8trn8nl Fund represents the market value of investments held at the balance sheet dale not fO￿Ing part of the p8nn3nenl endowry*nt he￿ at the balance sheet date. The Church Reserve Repalr Fund has been established to accumulate tund$ forantitpatèd future expèndthre on the Church and other associated repairs and mainlenan¢e. 18-

St Ml¢hael's and All Saints, Charities Church Branch (The St MichaEI's and All Saints. Charltyl Not•s to the ABcounts Icontlnuedl for the year end•d 31st December 2024 staff Costs 2D24 2023 ross waGe5 Er))l)'.ieE .. ensi? Em loye3 Na)ru￿ Irisurance .t allJ%ence 13.7E51 herG b%.ape L F.=rt-tiip etp.pltri&ts d."rinJ the s'"eor'.eJucing to 1 at yrar &nd. Nlo ew..plojEe Yi35 Paid morè th2r.. £6C, . Allocation of support Costs The kn..aitry 4YliJ.-ate> "ts sJp￿￿o￿l as s.Jw. in Ihg kble belci. Su?pcrt COa1s ere al￿￿[11e0 or. a ba51S on5.Sien:. ￿lttr, the use of resa.irces. Cost of Ch3rstable generating funds activltie5 2024 Total 2023 Total Support costs Sts.- CC>ts IriSL-r Gpnotal o. Mudil-.¢e C.:he-. 3C-C￿r.t3-.C¥ se Laa.' ￿.rCI&SS.. exFen5es znd..epai'.s Tolal 10 Charitable grants 2024 2023 OKfcrds..i'.e CttrnmiJnit.. F.Jun¢alici In the se- grarii Tras naJe IJ ?xfgrc5r.i-e Cot4 lun ty. the Daals -al thè Jran: g)Gled"" .4ifig Esin:Kqls Fu..J :.r.ng le￿￿tid t) ￿er.erICia1I￿S In th￿ C ty. O 4X Grdl. ich fiJr.-e c iar..taJl -'32n satioris pra.. - 5,.> Ftsop e 'è..:h focL1. cl?thi.Ig. shelEr. thernbll> cJnfortab* spac2s a...0

St Michael's and All Salrbts. Charities Church Branch (Thè St Mi¢haeI'5 and All Saints, Charityl Notes to the Accounts Icontintsedl for the year ended 31st Decèmber 2024.. 11 Trustees. rèmuneratlon No remuneratron was pald to ony Trusteè in their cap8¢ty as Tntstee12023'. £NilJ. . None of the TrusleÈs was reimbursed for expenses"during the year12023.. £Nil}. The cost of the Trustees, Indemnity Insurance to the chartty for the yearwas £1.194120¥3= £1.3361 ofwhich £895 was apportioned to the Church btxnch. 12 Connèctèd charlty An amount of £67.071was owed bythe St Miehael's and All Satnts. Charity Relief Branch (The Church Housès Rellef In Nèed Charltyl12023.' £5.692 owed by the Relief Branch), a connected charity, In respect of costs incurre(S in rè5pe¢t of the joinlly ovmed 136 frligh Street which had not yet been transferred. 13 Ststement offunds Analysis of fund5 -2024 Openlng Balance Gain$ I Ineomt Expenditurè Transfer Lossès Closing Balance Unrestricted - General Unrèstricted"Fm Rèsèrves1,147.46T 560,661 1463.8251 160,0001 1,184,303 D•stgnated - Property Fund - Investments Fund - Church Reserve Repair Fund 2,826,216 781.877 100,000 10,000 2,836,216 826.363 150,000 44.486 50.000 3,708.093 60,000 Endowment - Permanent Endowment Fundg 44.486 3,812.Yr9 8.978,919 17,292 8,996,211 Total fund5 13,834,479 560.661 1463,825) 61,778 13,993.093 Analysls of funds-2023 Opèning Balance Gains I Income Expenditure Transtsr LDss8S Closlng Balance Unrestrlctèd - General Unrèstrielgd'Free' Reserves g)8.484 667,264 1378,2811 150.0001 Dèsignated - Property Fund Inv&stments Fund - Church Reserve Repair Fund 1,147,487 2.192.260 690,918 50,000 633,956 2,826,216 90,959 781.877 100.000 50.000 2.933,178 724.915 3,708,093 Endowment - Pemianent Endowrnenl Funds 7.178,519 1.800.400 8.978,919 Total funds 11,020.181 667.264 1378,2811 2.525.315 13,834.479 20-

St Mlchael's and All Salnts, Charltlès Church Branch (The St Michael's and All Salnts, Charltyl Motes to the Accounts (Continued) for the year ended 31st Dp¢ernbèr 2024 14 Related partte¥ During the year ended 31st December 2024, transactSons wllh related parli?s were 88 follgW$: The freehold of 136 High SlreetWa5 purchased from Llncoln College la related party) for £20,000. During the year, Sir Nigel Shadboll, ProfA Spicer, Mr M Lebus. the Reverend A Buckley, and Mr N Cfftrd wèrè also Trustees ol Sl Michael's Oxford Educatlonal Trust. The Reverend A Buckley. Prol A Spicer, Mr M Lebu5, Mi55 P D8i1oy and Mi R E8rf were also Trustees of St 11 .￿a￿l at tFie Nort.h aate K.'th S; 1-rt.'n 3.-.41 A., Saints. J. jear. the ltsli0..4'1IP 3rriuJnts *ere paid t4e_hu-.. 2023 Ch. rcFI ex￿enseS iinJudip.a l-: aid lp.>uran￿l Ch" rctr, :eFG. c￿.. rcr.. ¢dn".rila 71 on salaries èlusic Less eletr.e-t cfVAT grant sr.IN