Oxfordshire Buildings Trust
Trustees Annual Report
and
Statement of Accounts For year ended 31st March 2021
THE OXFORDSHIRE BUILDINGS TRUST
ANNUAL REPORT OF THE TRUSTEES AND INDEPENDANLTY EXAMINED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021
The Trustees present their reports with the financial statements of the charity for the year ended 31st March 2021. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) ’Accounting and Reporting by Charities’ issued in March 2015.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity Commission Registered Charity 282203
Companies House Registration 01555501
Trust Addresses
Secretary: Haycot, Church Close, Farmoor, Oxford, OX2 9NP Registered Office: 7 Knollys Close Abingdon Oxon OX14 1XN
Trustees
Trustees who are also directors are selected from a wide range of people and are appointed by virtue of their experience and ability to contribute to the activities of the Trust. The Trustees take into account the Charity Commission guidance on public benefit and believe that the activities of the Trust are in line with that guidance.
Mr David W Bretherton Chairman Mr John Griffin Secretary Mr Brain Wood Ms Carole Anderson Mr G Audley-Miller Ms Jeanett Matelot Mr James Green Mr Trevor Brown Minutes secretary Mrs Lesley Legge Mrs Glynis Phillips Mrs Anne Purse Mr John Steane Mr John Sykes Mr Tim Hallchurch Mrs Elizabeth Poskitt
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Ms Sally Stradling Mr Bruce Hunt Treasurer
Accounts Independent Examiner
Lynette Bretherton, 12 Clarendon Drive, Thame
Bankers
Barclays Bank PLC., Leicester LE87 2BB
Insurers
Arch Insurance (UK) ltd, Great Tower Street, London EC3R 5AZ
CHAIR OF TRUSTEES REPORT
This is my first report and I must start by offering a big thank you to Lesley Legge for her sterling work as Chairman for the past few years.
This year all activities have been severely curtailed by COVID 19 precautions. Although the trustees have met remotely via Zoom there has been no opportunity to visit other sites or even Swalcliffe Barn. There have been no requests for funding as all the operations of likely organizations have been disrupted by COVID precautions.
We hope that we will get back to a normal routine in the coming year.
STRUCTURE, GOVERNANCE AND MANAGEMENT.
Governing Document
The charity was established by Articles of Association signed on 6 February 2004 as a Charitable Unincorporated Association and is governed under these Articles that delineate the objects and powers of the Charitable Trust. The Charitable Trust is registered with the Charity Commission number 282203.
The charity has ownership of a listed building and as a result is registered as a limited company with Companies House. Company registration number 01555501
The Charity and Company is progressing a desire to become a Charitable Incorporated Organization.
The financial statements are prepared in accordance with the Trust’s constitution and the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP 2005).
Objectives and Aims
In planning our activities for the year, we have kept in mind the Charity Commissions guidance on public benefit.
The principal objects of the Trust are:
To preserve for the benefit of the people of Oxfordshire and the nation at large, whatever of the English historical, architectural and constructional heritage may exist in Oxfordshire in the form of any structure or erection and any part of a
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building, and also any garden or plant or machinery irrespective of whether it is associated with a building of particular beauty or historical, architectural or constructional interest or ancient monument.
Responsibilities of the Trustees
The trustees are responsible for preparing the Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees consider that the company is exempt from audit under both the Charities Act 2011 and the Companies Act 2006.
Swalcliffe Barn
The principal asset of the trust is Swalcliffe Barn in Swalcliffe village in North, Oxfordshire. The barn is a Scheduled Ancient Monument and a Grade 1 listed tythe barn. It was constructed between 1401-1407 and has been described as “architecturally the finest barn in Oxfordshire”. It is leased to Oxfordshire County Council for use as an agricultural vehicles display museum which is made open to the public from May to October by members of the Swalcliffe Society.
The lease is a full repairing one for which the Trust receive a modest income.
Reserves Policy and Risk Management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The Trustees reviewed its accounting procedures in March 2021.
The directors have examined the major strategic, business and operational risks the company faces and confirm that regular reports are produced so that necessary steps can be taken to lessen those risks. The company’s income is dependent on continuing receipt of income from the rental of Swalcliffe Tithe Barn. A new 15 year lease with the tenant Oxfordshire County Council was signed on 19[th] September 2012.
There was a surplus for the year of £48,737 of which a gain on investments held with COIF accounted for £35,223. The Accumulated Fund represented by the net cost value of Swalcliffe Tithe Barn, bank accounts and other assets amounted to £445,669.
The Trust does not have access to any overdraft or loan facility.
ON BEHALF OF THE BOARD OF TRUSTEES
David W Bretherton
Mr D Bretherton, Chair of Trustees Dated: 1 July 2021
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| INCOME AND EXPENDITURE ACCOUNT | INCOME AND EXPENDITURE ACCOUNT | INCOME AND EXPENDITURE ACCOUNT | INCOME AND EXPENDITURE ACCOUNT | |
|---|---|---|---|---|
| For the 12 month period to 31st March 2021 | ||||
| Year to | Year to | |||
| 31.3.21 | 31.3.20 | |||
| £ | £ | |||
| Income | ||||
| Rent Swalcliffe | Barn | 8,110 | 8,110 | |
| Bank / | Investment | interest | 5,984 | 5,889 |
| Income | 14,094 | 13,999 | ||
| Expenses | ||||
| Charitable Activity – Projects and grants | 0 | 13,500 | ||
| Insurance | 447 | 486 | ||
| Other expenses | 133 | 186 | ||
| Total expenditure | 580 | 14,172 | ||
| Operating surplus/deficit | 13,514 | (173) | ||
| Unrealised increase/(decrease) in value of | 35,223 | (5,573) | ||
| investments | ||||
| Surplus/deficit for | the period | 48,737 | (5,746) | |
| BALANCE SHEET | ||||
| as at 31stMarch 2021 | ||||
| This year | Previous year | |||
| £ | £ | |||
| Tangible Fixed Asset | ||||
| Swalcliffe Tithe Barn at net cost | 192,708 | 192,708 | ||
| Current Assets | ||||
| Barclays Current Account | 48,128 | 35,371 | ||
| COIF Investment Fund | 205,672 | 170,449 | ||
| Debtors | 1,533 | 1,538 | ||
| Creditors | (2,372) | (3,135) | ||
| Total Assets | 445,669 | 396,932 | ||
| Represented by: | ||||
| Accumulated Fund | 1stApril 2020 | 396,932 | 402678 | |
| Surplus/(deficit) | 48,737 | (5746) | ||
| Accumulated Fund | 31stMarch 2021 | 445.669 | 396,931 |
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STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED
31st MARCH 2021
For the year ended 31[st] March 2021 the company was entitled to exemption from audit under section 477(2) of the Companies Act 2006. No members have required the company to obtain an audit of its accounts for the year in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibility for (i) ensuring the company keeps accounting records which comply with section 386, and (ii) preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year, and of its profit and loss for the financial year in accordance with section 393, and which otherwise comply with the requirements of the Companies Act relating to accounts, so far as is applicable to the company.
The financial statements were examined and approved by the Board of Trustees on 1 July 2021 and signed on behalf of the Trustees by:
Mr D W Bretherton: Chairman
Signed : D W Bretherton Date: 30 July 2021
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