The Oxfordshire Buildings Trust
Trustees Annual Report and
Statement of Accounts For year ended 31st March 2024 Charity Number 282203
| Contents | |
|---|---|
| Legal and Administrative Information | 3 |
| Report of the Chairman | 4 |
| Structure Governance and Management | 4 |
| Statement of Financial Activities | 5 |
| Profit and Loss Statement | 6 |
| Balance Sheet | 7 |
| Independent Examiner’s Report | 8 |
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THE OXFORDSHIRE BUILDINGS TRUST
ANNUAL REPORT OF THE TRUSTEES AND INDEPENDENLTY EXAMINED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024
The Trustees present their reports with the financial statements of the charity for the year ended 31st March 2024. 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
Charitable Incorporated Organisation - Registered Number 282203
Trust Addresses
Secretary: Haycot, Church Close, Farmoor, Oxford, OX2 9NP
Registered Office: Haycot, Church Close, Farmoor, Oxford, OX2 9NP
Accounts Independent Examiner
Lynette Bretherton, 12 Clarendon Drive, Thame
Bankers
Barclays Bank PLC., Leicester LE87 2BB
Insurers
Ecclesiastical Insurance, Benefact House, 2000 Pioneer Avenue, Gloucester Business Park, Brockworth, Gloucester, GL3 4AW.
Trustees
The Trustees 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 Bruce Hunt Treasurer Mr Trevor Brown Minutes secretary Ms Carol Anderson Mr Grant Audley-Miller Cllr Mary Clarkson Mr John Howson Mr Tim Hallchurch Resigned 31 March 2024 |
Mrs Lesley Legge Vice Chair Mrs Glynis Phillips Mrs Elizabeth Poskitt Mrs Susanna Presell Mrs Anne Purse Ms Sally Stradling Mr Roger Thomas Mr Brian Wood |
|---|---|
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CHAIR OF TRUSTEES REPORT
Now that we are over the Covid restrictions the Trustees have been able to meet in person, which has been much appreciated.
Swalcliffe Barn has been opened regularly and it would appear that visitor numbers are up slightly on pre Covid levels. I am pleased to report that work commenced in Spring 2024 to carry out the overdue repairs.
One grant was made for building renovations during the year. Wheatley Church for building work and restoration to the floor.
Financially we are still in a strong position, despite the downturn in investment income, and we will remain able to offer grant funding for suitable projects into 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 governed under these Articles that delineate the objects and powers of the Charitable Trust. The Charitable Trust was registered with the Charity Commission number 282203.
The Charity was established as a Charitable Incorporated Organisation on 29 December 2021 under the same registration number 282203 but with a revised governing document.
The charity was registered as a limited company with Companies House registration number 01555501 until removal from the register on 29 December 2021.
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 Commission’s 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 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).
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The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charity. They are also responsible for safeguarding the assets of the charitable organisation 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 the Charities Act 2011.
Swalcliffe Barn
The principal asset of the trust is Swalcliffe Barn in Swalcliffe village near Banbury in north Oxfordshire. The barn is a Scheduled Ancient Monument and a Grade 1 listed building. It was constructed between 1401-1405 and has been described as “architecturally the finest barn in Oxfordshire”.
The Barn was acquired by the Trust in 1990 in a dilapidated state and restored to as near original condition as possible.
The Barn has been leased to Oxfordshire County Council since the restoration. The current full repairing lease is for a period of fifteen years from 1 September 2012, for which the Trust receives a modest income.
It is used by Oxfordshire County Council Museum Services as accessible storage for agricultural and trade vehicles from its collection. It is made open to the public on Sundays from April to October by members of the Swalcliffe Society.
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 2024.
The Trustees have examined the major strategic, business and operational risks the Trust faces and confirm that regular reports are produced so that necessary steps can be taken to lessen those risks. The Trust’s income is dependent on continuing receipt of income from the rental of Swalcliffe Tithe Barn.
The Trust does not have access to any overdraft or loan facility.
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31st MARCH 2024
The Trustee acknowledge their responsibility for preparation of financial statements and consider that under section 144(2) of the Charities Act 2011 (the 2011 Act) a formal audit is not required and that an independent examiner is required for the year ending 31 March 2024.
The financial statements were examined and approved by the Board of Trustees on 27 Jun 2024 and signed on behalf of the Trustees by:
ON BEHALF OF THE BOARD OF TRUSTEES
David W Bretherton
Mr D W Bretherton, Chair of Trustees Dated: 16 August 2024
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Oxfordshire Buildings Trust
Created 4 June 2024 Oxfordshire Buildings Trust
From date 1 Apr 2023 Profit and Loss Statement To date 31 March 24 (All values stated in GBP)
(All values stated in GBP)
| Turnover | |
|---|---|
| 4902 unrealised gain on investments | 19,458.45 |
| 4904 Rental Income | 8,109.92 |
| 4906 COIF dividends received | 6,274.66 |
| Total turnover | 33,843.03 |
| Less Cost of Sales | |
| Total Cost of sales | 0 |
| Gross Profit | 33,843.03 |
| Less Expenses | |
| 6703 Charitable Wheatley Parochial Church Council | 15,000.00 |
| 7100 Rent | 48.00 |
| 7400 Travelling | 58.50 |
| 7510 Postage and Carriage | 6.00 |
| 7504 Stationary | 1.80 |
| 7506 Hosting fees and IT consumables | 98.00 |
| 7603 Professional fees | 155.00 |
| 7803 Premises expense | 2.00 |
| Total Expenses | 15,369.30 |
| Profit before tax | 18,473.73 |
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Created 4 June 2024
Oxfordshire Buildings Trust
Report date 31 March 2024
Balance Sheet
(All values stated in GBP)
| Fixed Assets | |
|---|---|
| 0013 Buildings Swalcliffe Barn | 192,708.00 |
| 0014 COIF Charities Investment Fund | 234,426.08 |
| Total Fixed Assets | 427,134.08 |
| Current assets | |
| 1104 COIF Dividends Outstanding | 1,575.26 |
| 1203 Barclays Current Account CIO | 58,745.06 |
| Total Current Assets | 60,320.32 |
| Current Liabilities | |
| 2110 Advance Rent | 2,027.48 |
| 2202 VAT Liability | 1,157.86 |
| Total Current Liabilities | 3,185.34 |
| Net Current Assets | 57,134.98 |
| Total Assets less Current Liabilities | 484,269.06 |
| Long Term Liabilities | |
| Long Term Liabilities | 0 |
| Net Assets | 484,269.06 |
| Capital and Reserves | |
| P & L Account | 18,473.73 |
| 3101 Retained Profit & Undistributed Reserves | 465,795.33 |
| Total capital and reserves | 484,269.06 |
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Independent Examiner's Report Report to the Trustees of The Oxfordshlre Buildings Trust Charlty No. 282203 I report to the trustees On my examination of the accounts of the Oxfordshire Buildings Trust Ilhe TTUStI for the year ended 31. March. 2024 which are attached on the following pages. R•sponslbllitie8 and b#Ji8 of Mport As the charrty Iruslee8 of thè Trust you are responsible for th8 preparation of thè a¢¢ounts in accordance wrth thè requirements of the Charitiès Act 20111.the Act'i. I report in respect of my examination ol the Trust's account$ carried out under sedion 145 of the 2011 Aet and in carrying out my examination I have followed all thè applicable Directions given by the Charity Cornrnission under section 14515llbl of the Act. Ind•ndent examlngr'¥ ¥t•t•m•nt I have completed my examination. I Confi that no maltrrial matters have come lo my aitention ryjnnèction with the examination giving me cause to believo that in any material respect.. 1. aoUnting records were not kept in r¢Set of the Trust as requi by section 130 of the Act., or 2. the a¢¢ounts do not accord wrth those COrdS,. or 3. the accounts do not comply with the applicable requirèmènts conmIng the fom and content of accounts set out in the Chari1185 (Accounts and Report81 Regulations 200e olh?r than any requirernent that the accounts give a'true and fair view which is not a matter considered 48 Part of an independent examination. I have no concems and have come arxoss no other matter8 in connection wth the 8xamination to which attgnlion should be drawn in this report in order lo enabl$ a proper understanding of the accounts lo b8 rèached. Slgn8d'. Date i31110* Oy-q 3%P