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2025-03-31-accounts

The Oxfordshire Buildings Trust

Trustees’ Annual Report

and

Statement of Accounts

For year ended 31st March 2025 Charity Number 282203

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The Oxfordshire Buildings Trust Reference and administration information

Charity number - 282203

Registered office and operational address - Haycot, Church Close, Farmoor, Oxford, OX2 9NP

Trustees

Mr David W Bretherton - Chairman Mrs Lesley Legge – Vice Chair Mr John Griffin - Secretary Mrs Glynis Phillips Mr Bruce Hunt – Treasurer, resigned 31 Dec 2024 Mr Elizabeth Poskitt Mr Trevor Brown Mrs Susanna Presell Ms Carol Anderson – Minutes Secretary Mrs Anne Purse Mr Grant Audley-Miller Ms Sally Stradling Cllr Mary Clarkson Mr Roger Thomas Mr John Howson Mr Brian Wood

No trustee held title to property belonging to the charity during the reporting period or at the date of approval.

Key management personnel

The trustees.

Bankers

Barclays Bank PLC, Leicester, LE87 2BB

Insurers

Ecclesiastical Insurance, Benefact House, 2000 Pioneer Avenue, Gloucester Business Park, Brockworth, Gloucester, GL3 4AW

Independent Examiner

Patrick Morrello ACA Third Sector Accountancy Limited, Holyoake House, Hanover Street, Manchester, M60 0AS

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The Oxfordshire Buildings Trust Report to the trustees for the year ended 31 March 2025

The trustees present their report and the unaudited financial statements for the year ended 31 March 2025.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Trust’s constitution, and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Chair of trustees report

The Trustees have been able to meet in person throughout the year which has been much appreciated.

Swalcliffe Barn has been opened regularly and it would appear that visitor numbers are slightly up on previous years although there are concerns that the Swalcliffe Society may not be able to sustain their level of support in future. Work has continued on the overdue repair to the barn.

Trustees are concerned that suitable grant applications are not coming forward in the numbers that we would wish.

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 ~~c~~ oming year.

Is was unfortunate that due to a change in legal entity in 2021 we were not able to revoke the requirement to charge VAT on the rent for the barn.

Our treasurer, Mr Bruce Hunt, regrettably died in Dec 2024 just after resigning but before being able to affect a hand over. Mr Hunt had done sterling work as the treasurer always putting the work of the trust in the foreground and dealing with his role in a very professional manner. His passing has left a hole in the trust’s management which we are attempting to fill with temporary treasurers.

David W Bretherton

Chair of Trustees

Objectives and activities, achievements and performance

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.

The trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period.

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.

The charity's main activities and who it tries to help are described below. All its charitable activities focus on preserving English heritage and are undertaken to further charity’s charitable purposes for the public benefit.

Swalcliffe Barn

The charity’s main activity is the restoration, maintenance and operation of its principal asset of the trust, 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.

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The Oxfordshire Buildings Trust Report to the trustees for the year ended 31 March 2025

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.

Beneficiaries

Local residents in Oxfordshire and the general public at large have been able to access and view the barn itself, and also the collection of agricultural and trade vehicles exhibited there by the Oxfordshire County Council Museum Services. The benefit is the educational value and enjoyment of the barn and its exhibits, and the contribution this activity makes to preserving English heritage.

Financial review

During this and the previous financial year the charity had no restricted funds. All funds received and expended were unrestricted.

The total income for the year was £14,937 (2024: £14,358) and the total expenditure £3,520 (2024: £15,369) leaving a net income of £11,417 (2024: net loss of £984). After adjusting for a net loss of £10,922 on investments (2024: net gain of £19,458), the net movement in funds for the year was £495 (2024: £18,474).

At year end the total unrestricted funds of the charity were £484,764 (2024: 484,269).

Reserves policy

The aim of the reserves policy is to ensure that the charity’s ongoing and future activities are reasonably protected from unexpected fluctuations in its income and expenditure. The board reviewed the reserves policy and agreed that a minimum level of unrestricted general funds, also known as free reserves, of £20,000 is appropriate given the risks faced by the charity and the sustainability of its different income streams. The charity has no staff and minimal operational expenditure but may need some funds to explore new projects or activities.

Free reserves were £292,056 excluding the designated property assets fund of £192,708.

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 the charity’s accounting procedures in March 2025.

The Trust’s income is dependent on continuing receipt of income from the rental of Swalcliffe Tithe Barn. 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 minimise those risks.

The Trust does not have access to any overdraft or loan facility.

Structure, governance and management

Governing Document

The charity was established by Articles of Association signed on 10 June 1981 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.

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The Oxfordshire Buildings Trust Report to the trustees for the year ended 31 March 2025

The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 8 to the accounts.

Trustee recruitment

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.

Related parties and relationships with other organisations

There were no related parties other than the trustees.

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The Oxfordshire Buildings Trust Report to the trustees for the year ended 31 March 2025

Statement of responsibilities of the trustees

The trustees are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper 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 Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

The trustees’ annual report has been approved by the Trustees on 15 August 2025 and signed on their behalf by:

David W Bretherton Chair of Trustees

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The Oxfordshire Buildings Trust Report to the trustees for the year ended 31 March 2025

I report on the accounts of the charity for the year ended 31 March 2025 set out on pages 7 to 16.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner’s statement

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Other matters

Your attention is to drawn to the fact that the charity has prepared the accounts (financial statements) in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

We understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

  1. which gives me reasonable cause to believe that, in any material respect, the requirements:

  2. to keep accounting records in accordance with section 130 of the Charities Act; and

  3. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act

have not been met; or

  1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Patrick Morrello ACA Third Sector Accountancy Limited Holyoake House, Hanover Street Manchester, M60 0AS

Date: 11 / 02 / 2026

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The Oxfordshire Buildings Trust Statement of Financial Activities for the year ended 31 March 2025

Unrestricted
funds
Note
£
Income from:
Charitable activities
3
10,137
Investments
4
4,800
Total income
14,937
Expenditure on:
Charitable activities
5
3,520
Total expenditure
3,520
11,417
(10,922)
6
495
Net movement in funds for the year
495
Reconciliation of funds
Total funds brought forward
484,269
Total funds carried forward
484,764
Net income/(expenditure) before net
gains/(losses) on investments
Net gains/(losses) on investments
Net income/(expenditure) for the year		 Total funds
2025
£
10,137
4,800
14,937
3,520
3,520
11,417
(10,922)
495
495
484,269
484,764		 Unrestricted
funds
£
8,110
6,275
14,385
15,369
15,369
(984)
19,458
18,474
18,474
465,795
484,269		 Total funds
2024
£
8,110
6,275
14,385
15,369
15,369
(984)
19,458
18,474
18,474
465,795
484,269

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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The Oxfordshire Buildings Trust Charity number 282203

Note
£
£
Fixed assets
Tangible assets
10
192,708
Investments
11
223,504
Total fixed assets
416,212
Current assets
Debtors
12
979
Cash at bank and in hand
13
68,273
Total current assets
69,252
Liabilities
Creditors: amounts falling
due in less than one year
14
(700)
Net current assets
68,552
Total assets less current liabilities
484,764
Net assets
484,764
The funds of the charity:
Unrestricted income funds
16
484,764
Total charity funds
484,764
Balance sheet as at 31 March 2025
2025		 £
£
192,708
234,426
427,134
1,575
58,745
60,320
(3,185)
57,135
484,269
484,269
484,269
484,269
2024

For the year in question, the charity was entitled to exemption from an audit under section 144 of the Charities Act 2011. The Charity Commission has not ordered an audit to be carried out under Section 146 of Charities Act 2011.

The notes on pages 9 to 16 form part of these accounts.

Approved by the trustees on and signed on their behalf by: 09 / 02 / 2026

David Bretherton (Trustee)

John Griffin (Trustee)

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The Oxfordshire Buildings Trust Charity number 282203

Notes to the accounts for the year ended 31 March 2025

1 Accounting policies

The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a Basis of preparation

The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.

The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of

The Oxfordshire Buildings Trust meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £ sterling.

b Preparation of the accounts on a going concern basis

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.

c Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income received in advance of a provision of a specified service is deferred until the criteria for income recognition are met.

d Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

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The Oxfordshire Buildings Trust

Charity number 282203

Notes to the accounts for the year ended 31 March 2025 (continued)

e Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity.

Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.

Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.

f Operating leases

Operating leases are leases in which the title to the assets, and the risks and rewards of ownership, remain with the lessor. Rental charges are charged on a straight line basis over the term of the lease.

g Tangible fixed assets

Individual fixed assets costing £500 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows:

Freehold building

0%

The freehold land and buildings relate to Swalcliffe Barn aquired in 1980. The building is leased to Oxfordshire County Museum. Trustees have determined that the residual value of the building based on the price at the time of acquisition is not materially different from the carrying amount of the asset. The building has a very long useful life and is a grade 1 listed building and a listed ancient monument. Any depreciation is therefore immaterial. The freehold building is subject to an annual impairment review.

h Fixed asset investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

The Charity does not acquire put options, derivatives or other complex financial instruments.

The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.

i Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

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The Oxfordshire Buildings Trust

Charity number 282203

Notes to the accounts for the year ended 31 March 2025 (continued)

j Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

k Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

l Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

The charity is a charitable incorporated organisation registered with the Charity Commission. The reference and administration details are disclosed on page 1.

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The Oxfordshire Buildings Trust Charity number 282203

Notes to the accounts for the year ended 31 March 2025 (continued)

3 Income from charitable activities

Charitable trading
Total
4
Investment income
Dividends received		 Unrestricted
£
10,137
10,137
Unrestricted
£
4,800
4,800		 Restricted
£
-
-
Restricted
£
-
-		 Total 2025
£
10,137
10,137
Total 2025
£
4,800
4,800		 Unrestricted
£
8,110
8,110
Unrestricted
£
6,275
6,275		 Restricted
£
-
-
Restricted
£
-
-		 Total 2024
£
8,110
8,110
Total 2024
£
6,275
6,275

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The Oxfordshire Buildings Trust Charity number 282203

Notes to the accounts for the year ended 31 March 2025 (continued)

5 Analysis of expenditure on charitable activities

Premises costs
Accountancy fees
Office and administration costs
Unrestricted expenditure
6
Net income/(expenditure) for the year
This is stated after charging/(crediting):
Accountants and independent examiner's fee		 2025
£
2,075
886
559
3,520
3,520
3,520
2025
£
886		 2024
£
15,050
-
319
15,369
15,369
15,369
2024
£
-

The charity had no employees and did not operate a payroll during this and the previous year.

Neither the management committee nor any persons connected with them received any remuneration or reimbursed expenses during the year (2024: Nil).

Aggregate donations from related parties were £Nil (2024: £Nil).

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity, including guarantees, during the year (2024: £Nil).

9 Corporation tax

The charity is exempt from tax on income and gains falling within Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.

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The Oxfordshire Buildings Trust Charity number 282203

Notes to the accounts for the year ended 31 March 2025 (continued)

10
Fixed assets: tangible assets
Cost
Net book value
11
Investments
Add net gain/(loss) on revaluation
12
Debtors
Other debtors
13
Cash at bank and in hand
Cash at bank and on hand
At 31 March 2025
Market value at the end of the year
At 31 March 2024
Market value at the start of the year
At 31 March 2025
At 1 April 2024		 Property
£
192,708
192,708
192,708
192,708		 Office
equipment
£
-
-
-
-
2025
£
234,426
(10,922)
223,504
223,504
2025
£
979
979
2025
£
68,273
68,273		 Computer
equipment
£
-
-
-
-
2024
£
214,968
19,458
234,426
234,426
2024
£
1,575
1,575
2024
£
58,745
58,745		 £
192,708
192,708
192,708
192,708
Total

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The Oxfordshire Buildings Trust Charity number 282203

Notes to the accounts for the year ended 31 March 2025 (continued)

14 Creditors: amounts falling due within one year

----- Start of picture text -----
2025 2024
£ £
Other creditors and accruals 700 3,185
700 3,185
----- End of picture text -----

15 Analysis of movements in restricted funds

The charity did not receive nor expend any restricted funds in this or the previous year.

16 Analysis of movement in unrestricted funds

Comparative period
Designated property
assets fund
General fund
Designated property
assets fund
General fund		 Balance at 1
April 2024
£
291,561
192,708
484,269
Balance at
1 April 2023
£
273,087
192,708
465,795		 Income
£
14,938
-
14,938
Income
£
33,843
-
33,843		 Expenditure
£
(14,443)
-
(14,443)
Expenditure
£
(15,369)
-
(15,369)		 Transfers
£
-
-
-
Transfers
£
-
-
-		 As at 31
March 2025
£
292,056
192,708
484,764
As at 31
March 2024
£
291,561
192,708
484,269

Name of

unrestricted fund Description, nature and purposes of the fund

General fund Designated property assets fund

The free reserves after allowing for all designated funds the net book value of fixed assets of the charity needed for its operation

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The Oxfordshire Buildings Trust Charity number 282203

Notes to the accounts for the year ended 31 March 2025 (continued)

17 Analysis of net assets between funds

Tangible fixed assets
Fixed asset investments
Net current assets/(liabilities)
Total
Comparative period
Tangible fixed assets
Fixed asset investments
Net current assets/(liabilities)
Total		 General
fund
£
192,708
223,504
(124,156)
292,056
General
fund
£
192,708
234,426
(135,573)
291,561		 Designated
funds
£
-
-
192,708
192,708
Designated
funds
£
-
-
192,708
192,708		 Restricted
funds
£
-
-
-
-
Restricted
funds
£
-
-
-
-		 Total 2025
£
192,708
223,504
68,552
484,764
Total 2024
£
192,708
234,426
57,135
484,269

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