2022-03-31-accounts - The Oxford Trust

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			Page
Report ofthe Trustees			1 to 8
Report ofthe Independent Auditors			9to 11
Statement of Financial	Activities		12
Balance Sheet			13
Cash Flow Statement			14
Notes to the Financial	Statements		15to 26
Detailed Income and Expenditure		Account	27

Registered	Company	01898691
Registered	Charity number	292664
Registered	office	Oxford Centre	for	Innovation
		New Road
		Oxford
		OX1 1BY
Trustees		Dr J Boyle (Chair)
		Ms J Bennett
		N Cross
		P Dean
		DrS Dry
		Prof A Fitt
		J Flint
		Imam Monawar	Hussain
		Prof WJames
		Ms M Morys-Carter		(Vice Chair)
		Prof A Noble
		Ms L Pebworth
CEO		S R Burgess
Company	Secretary	S R Burgess
Auditors		Wenn Townsend
		30St Giles
		Oxford
		OX1 3LE
Solicitors		Freeths LLP
		Spires House
		5700 Oxford Business Park, South
		Oxford
		OX4 2RW
Bankers		HSBC
		65 Cornmarket	Street
		Oxford
		OX1 3HY
		Barelays
		Wytham Court,	11	West Way
		Botley
		Oxford
		OX2 OJB

		Note	Unrestricted	Designated	Restricted	2022	2021
			Fund	Fund	Fund	Total Funds	Total Funds
			(Note 1b/17)	(Note 1b/17)	(Note 1b/17)
Income from:
Donations and legacies			411,830			411,830	353,041
Charitable activities			2,053,463		353,529	2,406,992	1,432,683
investments			8,681			8,681	5,880
Total income			2,473,974		353,529	2,827,503	1,791,604
Expenditure on:
Raising funds			28,333			28,333	41,276
Charitable activities			1,817,987	412,142	195,178	2,425,307	1,825,224
Total expenditure			1,846,320	412,142	195,178	2,453,640	1,866,500
Net gains / (losses)	on	12			6,308	6,308	(5,000)
investments
Net income I(expenditure)			627,654	(412,142)	164,659	380,171	(79,896)
Transfers		17	(1,157,639)	1,130,785	26,854
Net income I(expenditure) after transfers			(529,985)	718,643	191,513	380,171	(79,896)
Reconciliation offunds:
Total funds brought	forward		730,277	13,394,684	70,745	14,195,706	14,275,602
Total funds carried	forward		200,292	14,113,327	262,258	14,575,877	14,195,706

				Note	Unrestricted	Designated	Restricted	2022	2021
					Fund	Fund	Fund	Total Funds	Total Funds
					(Note 1b/17)	(Note 1b/17)	(Note 1b/17)
Fixed Assets
Tangible assets				11		17,209,616		17,209,616	16,564,071
Investments				12		54,345	48,347	102,692	111,771
						17,263,961	48,347	17,312,308	16,675,842
Current Assets
Debtors				13	369,721			369,721	97,615
Cash in hand					208,894		213,911	422,805	1,099,410
					578,615		213,911	792,526	1,197,025
Creditors
Amounts falling due
within one		year			(345,711)	(316,675)		(662,386)	(563,464)
Net current		assets			232,904	(316,675)	213,911	130,140	633,561
Total assets		less current
liabilities					232,904	16,947,286	262,258	17,442,448	17,309,403
Creditors:	amounts		falling	due
after one	year			15	(32,612)	(2,833,959)		(2,866,571)	(3,113,697)
Net assets					200,292	14,113,327	262,258	14,575,877	14,195,706
Funds
Unrestricted		funds		17	200,292			200,292	730,277
Designated	funds			17		14,113,327		14,113,327	13,394,684
Restricted funds				17			262,258	262,258	70,745
Total funds				17	200,292	14,113,327	262,258	14,575,877	14,195,706

				Note	2022	2021
Cash flow from operating activities				19	572,258	417,766
Net cash flow from operating activities					572,258	417,766
Cash flows from investing activities:
Purchase oftangible fixed assets					(1,057,687)	(217,640)
Purchase offixed asset investments Sale offixed asset investments					15,000	(1,870)
Capital repayment from unlisted investment					387
Dividends received					8,681	5,880
Net cash flow from investing activities					(1,033,619)	(213,630)
Cash flows from financing activities:
Receipts from issue of new long-term loans						117,550
Repayment of long term loans					(215,244)	(66,131)
Net cash flow from financing activities					(215,244)	51,419
Change in cash and cash equivalents	in the	reporting	period		(676,605)	255,555
Cash and cash equivalents at the beginning		ofthe reporting		period	1,099,410	843,855
Cash and cash equivalents at the end	ofthe	reporting	period		422,805	1,099,410

							2022	2021
								E
	Dividends	and interest received					8,681	5,880
5a)	Expenditure		on Charitable	Activities
				Staff	Other	Allocation	Total	Total
				costs	costs	ofsupport	2022	2021
				E
	Education	and public
	engagement			387,916	145,550	490,247	1,023,713	760,414
	Enterprise	costs		28,425	875,806	486,813	1,391,044	1,055,860
	Governance		costs		10,550		10,550	8,950
	Support costs (see note 5b)			254,864	722,196	(977,060)
				671,205	1,754,102		2,425,307	1,825,224

The significant	components ofsupport costs are a	s follows:
		Total	Total
		2022f	2021 E
Computer costs		41,354	45,737
Depreciation		412,142	359,431
Establishment	costs	50,470	6,935
Financial costs		108,501	103,752
Staff costs		254,864	234,324
Other support costs		109,729	36,965
		977,060	787,144

Net inco	me is stated a	fter charging/(crediting):
			2022	2021
			E
Depreciation —owned		assets	412,142	359,431
Interest Trustees'	received and officers'	indemnity	(8,681) 900	(5,880) 915
Auditor's	remuneration	- audit	10,550	8,950

Staff costs are made up as follows:
	2022	2021
Wages and salaries	507,404	518,372
Social security costs	52,767	52,645
Other pension costs	111,034	81,425
	671,205	652,442

The avera	ge monthly number ofemploye	es during the year	was as follows:
		2022	2022	2021	2021
		FTE	Number	FTE	Number
Education	& public engagement	13	13	12	12
Central		5	5	5	5
Business	Enterprise	1	1	1	1
		19	19	18	18

		Unrestricted	Designated	Restricted	2021
		Fund	Fund	Fund	Total Funds
		(Note 1b/17)	(Note 1b/17)	(Note 1b/17)
		F	f.		f,
Income from:
Donations and legacies		186,738		166,303	353,041
Charitable activities		1,432,683			1,432,683
Investments		5,880			5,880
Total income		1,625,301		166,303	1,791,604
Expenditure on:
Raising funds		41,276			41,276
Charitable activities		1,405,839	359,431	59,954	1,825,224
Total expenditure		1,447,115	359,431	59,954	1,866,500
Net losses on investments				(5,000)	(5,000)
Net income / (expenditure)		178,186	(359,431)	101,349	(79,896)
Transfers		(175,448)	4,051,703	(3,876,255)
Net income / (expenditure) after transfers		2,738	3,692,272	(3,774,906)	(79,896)
Reconciliation offunds:
Total funds brought	forward	727,539	9,702,412	3,845,651	14,275,602
Total funds carried	forward	730,277	13,394,684	70,745	14,195,706

		Unrestricted	Designated	Restricted	2021
		Fund	Fund	Fund	Total Funds
		(Note 1b/17)	(Note 1b/17)	(Note 1b/17)	f
Fixed Assets
Tangible assets			16,564,071		16,564,071
Investments			54,732	57,039	111,771
			16,618,803	57,039	16,675,842
Current Assets
Debtors		97,615			97,615
Cash in hand		1,085,704		13,706	1,099,410
		1,183,319		13,706	1,197,025
Creditors
Amounts falling due
within one year		(394,780)	(168,684)		(563,464)
Net current assets		788,539	(168,684)	13,706	633,561
Total assets less current
Liabilities		788,539	16,450,119	70,745	17,309,403
Creditors: amounts	falling due
after one year		(58,262)	(3,055,435)		(3,113,697)
Net assets		730,277	13,394,684	70,745	14,195,706
Funds
Unrestricted funds		730,277			730,277
Designated funds			13,394,684		13,394,684
Restricted funds				70,745	70,745
Total funds		730,277	13,394,684	70,745	14,195,706

Tangible Fixed Assets
	Land and	Exhibition	Fixtures and
	Buildings	Equipment	Fittings	Totalsf
Cost
At 1 April 2021	17,138,226	330,433	171,368	17,640,027
Transfers	(112,419)		112,419
Additions	936,847	39,269	81,571	1,057,687
At 31 March 2022	17,962,654	369,702	365,358	18,697,714
Depreciation
At 1 April 2021	803,916	127,988	144,052	1,075,956
Transfers	(4,062)		4,062
Charge for year	294,692	70,987	46,463	412,142
At 31 March 2022	1,094,546	198,975	194,577	1,488,098
Net Book Value
At 31 March 2022	16,868,108	170,727	170,781	17,209,616
At 31 March 2021	16,334,310	202,445	27,316	16,564,071
The net book value of land and buildings	comprised:
			2022	2021
Land and buildings:
Freehold			4,055,979	4,093,409
Long leasehold			12,812,129	12,240,901
			16,868,108	16,334,310

ixed Asset Investments
	Other
	Listed	Unlisted
	Investments	Investments	Total
Cost/valuation
At 1 April 2021	8,750	103,021	111,771
Disposals		(15,000)	(15,000)
Capital repayments		(387)	(387)
Revaluations	250	6,058	6,308
At 31 March 2022	9,000	93,692	102,692

				Notes to the Financial Statem for the year ended 31 March	Notes to the Financial Statem for the year ended 31 March	Notes to the Financial Statem for the year ended 31 March	ents 2022
13.	Debtors: Amoun	ts		Falling Due Within One Year
							2022	2021
	Trade debtors						356,125	84,122
	Other debtors						11,329	11,826
	Prepayments and accrued income						2,267	1,667
							369,721	97,615
14.	Creditors: Amounts				Falling Due Within One Year
							2022f	2021
	Trade creditors						382,143	210,047
	Taxation and social			security			11,031	13,074
	Accruals and deferred				income		25,393	128,409
	Other creditors						1,515	1,512
	Bank loans						193,324	178,069
	Other loan						48,980	32,353
							662,386	563,464
	Deferred income	comprises:
							2022f
	At 1 April 2021						118,700
	Additions during	the		year
	Amounts released		to		income		(118,700)
	At 31 March 2022
	Income has been	deferred for projects grant paid				in advance	but specified for use in future	periods.

Creditors: Am	ounts Falling Due After One Ye	ar
		2022	2021
Bank loans		2,553,904	2,746,050
Concessionary	loans	312,667	350,000
Other loan			17,647
		2,866,571	3,113,697

							2022	2021
Total future	minimum	lease payments		under non-cancellable
operating leases are		as	follows:
Not later than one year							1,061	4,821
Later than one and not			later than five	years				221
							1,061	5,042
Movement	in Funds
			Opening	Incoming	Resources	Investment	Transfers	Closing
			balance	resources	expended	gains I		balance
			2021f			(losses)		2022
Unrestricted	funds
General fund			730,277	2,473,974	(1,846,320)		(1,157,639)	200,292
Designated	funds
Fixed assets	fund		13,339,952		(412,142)		1,131,172	14,058,982
Investments	fund		54,732				(387)	54,345
Restricted funds
Technology	Company
investment fund EEFcontract			57,039	353,529	(181,472)	6,308	(15,000) 41,854	48,347 213,911
Other projects			13,706		(13,706)
Total funds			14,195,706	2,827,503	(2,453,640)	6,308		14,575,877
			Opening	Incoming	Resources	Investment	Transfers	Closing
			balance	resources	expended	gains l		balance
			2020			(losses)		2021
								E
Unrestricted	funds
General fund			727,539	1,625,301	(1,447,115)		(175,448)	730,277
Designated	funds
Fixed assets	fund		4,117,836		(359,431)		9,581,547	13,339,952
Investments	fund		52,862				1,870	54,732
Stansfeld Park fund			5,531,714				(5,531,714)
Restricted funds
Technology	Company
Investment	fund		62,039			(5,000)		57,039
Stansfeld Park fund			3,783,612	92,643			(3,876,255)
Other projects				73,660	(59,954)			13,706
Total funds			14,275,602	1,791,604	(1,866,500)	(5,000)		14,195,706

	f	f	f	or the year ended 31 March 2022	or the year ended 31 March 2022
19.	Reconciliation of Net Income			to Net Cash Flow from Operating		Activities
							2022	2021
								E
	Net income/(expenditure)		for	the reporting	period
	(as per the statement of		financial activities)				380,171	(79,896)
	Adjustments for:
	Depreciation charges						412,142	359,431
	(Gain)/loss on investments						(6,308)	5,000
	Dividends received						(8,681)	(5,880)
	(Increase)/decrease	in debtors					(272,106)	74,442
	Increase in creditors						67,040	64,669
	Net cash flow from	operating		activities			572,258	417,766

			2022			2021
Income
Grants received				356,337		285,090
Activities income				679,507		47,000
Rental income Less running costs			'1,727,485 (837,495)		1,252,925 (590,762)
				889,990		662,163
Dividend and interest income				8,681		5,880
Donations received				55,493		200,709
				1,990,008		1,200,842
Expenditure
Activities costs			8,801		12,365
Grant costs			196,715		39,902
Motor travel and	subsistence		6,149		3,180
Staff costs direct			6,678		3,581
Depreciation			412,142		359,431
Establishment costs			50,470		6,935
Financial costs			108,501		103,752
Computer costs			41,354		45,737
Marketing costs			48,072		13,839
Sundry office costs Professional fees			24,069 37,410		9,887 16,350
Staff costs			662,865		652,442
Staff recruitment,	welfare and training		8,340		5,678
Stationery and postage			3,195		2,581
Travel and subsistence			1,384		78
				(1,616,145)		(1,275,738)
Surplus/(deficit)	of income over
expenditure before investment		transactions		373,863		(74,896)
Gain/(loss) on investments				6,308		(5,000)
Surplus/(deficit)	of income over	expenditure	for the year	380,171		(79,896)