2023-03-31-accounts

		Page
Report ofthe Trustees		1to8
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	number	01898691
Registered	Charity number		292664
Registered	office		Oxford Centre	for	Innovation
			New Road
			Oxford
			OX1 1BY
Trustees			DrJ Boyle (Chair)
			Ms J Bennett
			P Dean
			Ms S Dry
			Prof A Fitt-
			J Flint
			Imam M Hussain
			N J McConville
			Ms M Morys-Carter		(Vice Chair)
			Prof A Noble
			Ms L Pebworth
			D B Reid
CEO			S R Burgess
Company	Secretary		S R Burgess
Auditors			Wenn Townsend
			30StGiles
			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	2023	2022
			Fund	Fund	Fund	Total Funds	Total Funds
			(Note 1b/17)	(Note 1b/17)	(Note 1b/17)
					E
Income from:
Donations and legacies			21,553			21,553	411,830
Charitable activities			2,914,936		296,996	3,211,932	2,406,992
Investments			9,370			9,370	8,681
Total income			2,945,859		296,996	3,242,855	2,827,503
Expenditure on:
Raising funds			28,348			28,348	28,333
Charitable activities			2,131,802	426,998	345,268	2,904,068	2,425,307
Total expenditure			2,160,150	426,998	345,268	2,932,416	2,453,640
Net gains / (losses)	on	12
Investments					(3,250)	(3,250)	6,308
Net income / (expenditure)			785,709	(426,998)	(51,522)	307,189	380,171
Transfers		17	(713,186)	713,186
Net income / (expenditure)			72,523	286,188	(51,522)	307,189	380,171
after transfers
Reconciliation offunds:
Total funds brought	forward		200,292	14,113,327	262,258	14,575,877	14,195,706
Total funds carried	forward		272,815	14,399,515	210,736	14,883,066	14,575,877

				Note	Unrestricted	Designated	Restricted	2023	2022
					Fund	Fund	Fund	Total Funds	Total Funds
					(Note 1b/17)	(Note 1b/17)	(Note 1b/17)	f
Fixed Assets
Tangible assets						17,189,564		17,189,564	17,209,616
Investments				12		53,532	45,097	98,629	102,692
						17,243,096	45,097	17,288,193	17,312,308
Current Assets
Debtors				13	153,603			153,603	369,721
Cash in hand					682,543		165,639	848,182	422,805
					836,146		165,639	1,001,785	792,526
Creditors
Amounts falling due
within one		year		14	(540,544)	(210,563)		(751,107)	(662,386)
Net current		assets			295,602	(210,563)	165,639	250,678	130,140
Total assets		less current
liabilities					295,602	17,032,533	210,736	17,538,871	17,442,448
Creditors:	amounts		falling	due
after one	year			15	(22,787)	(2,633,018)		(2,655,805)	(2,866,571)
Net assets					272,815	14,399,515	210,736	14,883,066	14,575,877
Funds
Unrestricted		funds		17	272,815			271,815	200,292
Designated	funds			17		14,399,515		14,399,515	14,113,327
Restricted funds				17			210,736	210,736	262,258
Total funds				17	272,815	14,399,515	210,736	14,883,066	14,575,877

					Note	2023f	2022
Cash flow from operating activities					19	1,055,047	572,258
Net cash flow from operating	activities					1,055,047	572,258
Cash flows from investing activities:
Purchase oftangible fixed assets Sale offixed asset investments						(406,946)	(1,057,687) 15,000
Capital repayment from unlisted	investment					813	387
Dividends and interest received						9,370	8,681
Net cash flow from investing	activities					(396,763)	(1,033,619)
Cash flows from financing activities:
Repayment of long term loans						(232,907)	(215,244)
Net cash flow from financing	activities					(232,907)	(215,244)
Change in cash and cash equivalents		in the	reporting	period		425,377	(676,605)
Cash and cash equivalents at	the beginning		ofthe reporting		period	422,805	1,099,410
Cash and cash equivalents at	the end	ofthe	reporting	period		848,182	422,805

								2023f	2022
	Dividends	and		interest received				9,370	8,681
5a)	Expenditure			on Charitable	Activities
					Staff	Other	Allocation	Total	Total
					costs f.	costs f	ofsupport	2023f	2022
	Education	and
	Engagement		costs		471,026	258,746	586,272	1,316,044	1,023,713
	Innovation	costs			54,473	1,015,572	507,404	1,577,449	1,391,044
	Governance		costs			10,575		10,575	10,550
	Support costs			(see note 5b)	344,173	749,503	(1,093,676)
					869,672	2,034,396		2,904,068	2,425,307

The significant	components ofsupport costs are	as follows:
		Total	Total
		2023	2022f
Computer costs		36,784	41,354
Depreciation		426,998	412,142
Establishment	costs	59,790	50,470
Financial costs		107,496	108,501
Staff costs		344,173	254,864
Other support costs		118,435	109,729
		1,093,676	977,060

Net inco	me is stated a	fter charging/(crediting):
			2023	2022
Depreciation —owned		assets	426,998	412,142
Interest Trustees'	received and officers'	indemnity	(9,370) 1,248	(8,681) 1,008
Auditor's	remuneration	- audit	10,200	9,400
Auditor's	remuneration	—other services		1,625

Staff costs are made up as follows:
	2023	2022
	E
Wages and salaries	674,010	507,404
Social security costs	67,898	52,767
Other pension costs	127,764	111,034
	869,672	671,205

The avera	ge	monthly number ofempl	oyees during the year	was as follows:
			2023	2023	2022	2022
			FTE	Number	FTE	Number
Education	8	Engagement	14	14	13	13
Central			6	6	5	5
Innovation			3	3	1	1
			23	23	19	19

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

			Unrestricted	Designated	Restricted	2022
			Fund	Fund	Fund	Total Funds
			(Note 1b/17)	(Note 1b/17) F	(Note 1b/17) f
Fixed Assets
Tangible assets				17,209,616		17,209,616
Investments				54,345	48,347	102,692
				17,263,961	48,347	17,312,308
Current Assets
Debtors			369,721			369,721
Cash in hand			208,894		213,911	422,805
			578,615		213,911	792,526
Creditors
Amounts falling due
within one	year		(345,711)	(316,675)		(662,386)
Net current	assets		232,904	(316,675)	213,911	130,140
Total assets less current
liabilities			232,904	16,947,286	262,258	17,442,448
Creditors:	amounts	falling due
after one year			(32,612)	(2,833,959)		(2,866,571)
Net assets			200,292	14,113,327	262,258	14,575,877
Funds
Unrestricted	funds		200,292			200,292
Designated	funds			14,113,327		14,113,327
Restricted funds					262,258	262,258
Total funds			200,292	14,113,327	262,258	14,575,877

Tangible Fixed Assets
	Land and	Exhibition	Fixtures and
	Buildings	Equipment f	Fittings	Totalsf
Cost
At 1 April 2022	17,962,654	369,702	365,358	18,697,714
Additions	362,299	2,010	42,637	406,946
At 31 March 2023	18,324,953	371,712	407,995	19,104,660
Depreciation
At 1 April 2022	1,094,546	198,975	194,577	1,488,098
Charge for year	302,468	74,308	50,222	426,998
At 31 March 2023	1,397,014	273,283	244,799	1,915,096
Net Book Value
At 31 March 2023	16,927,939	98,429	163,196	17,189,564
At 31 March 2022	16,868,108	170,727	170,781	17,209,616
The net book value of land and buildings	comprised:
			2023f	2022 F
Land and buildings:
Freehold			4,051,144	4,055,979
Long leasehold			12,876,795	12,812,129
			16,927,939	16,868,108

Fixed Asset Investments
	Other
	Listed	Unlisted
	Investments f	Investments f	Total E
Cost/valuation
At 1 April 2022	9,000	93,692	102,692
Capital repayments		(813)	(813)
Revaluations	(3,250)		(3,250)
At 31 March 2023	5,750	92,879	98,629

13.	Debtors: Amou	nts	Falling Due Within One Year
					2023f	2022
	Trade debtors				151,531	356,125
	Other debtors					11,329
	Prepayments and accrued income				2,072	2,267
					153,603	369,721
14.	Creditors: Amounts			Falling Due Within One Year
					2023	2022
	Trade creditors				201,548	382,143
	Taxation and social		security		16,646	11,031
	Accruals and deferred			income	26,759	25,393
	Other creditors				285,991	1,515
	Bank loans				188,830	193,324
	Other loan				31,333	48,980
					751,107	662,386
	Deferred income	comprises:
					2023
	At 1 April 2022
	Additions during	the	year		17,500
	Amounts released to			income
	At 31 March 2023				17,500

Creditors: Am	ounts	Falling Due After One Year
			2023f	2022 f.
Bank loans			2,375,471	2,553,904
Concessionary	loans		280,334	312,667
			2,655,805	2,866,571

							2023	2022f
Total future	minimum	lease payments		under non-cancellable
operating leases are		as	follows:
Not later than one year							6,103	1,061
Later than one and not			later than five	years			5,594
							12,758	1,061
Movement	in Funds
			Opening balance	Incoming resources	Resources expended	Investment gains I	Transfers	Closing balance
			2022			(losses)		2023
Unrestricted	funds
General fund			200,292	2,945,859	(2,160,150)		(713,186)	272,815
Designated	funds
Fixed assets	fund		14,058,982		(426,998)		713,999	14,345,983
Investments	fund		54,345				(813)	53,532
Restricted funds
Technology	Company
Investment	fund		48,347			(3,250)		45,097
EEFcontract			213,911	296,996	(345,268)			165,639
Total funds			14,575,877	3,242,855	(2,932,416)	(3,250)		14,883,066
			Opening	Incoming	Resources	Investment	Transfers	Closing
			balance	resources	expended	gains I		balance
			2021			(losses)		2022f
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		57,039			6,308	(15,000)	48,347
EEFcontract				353,529	(181,472)		41,854	213,911
Other projects			13,706		(13,706)
Total funds			14,195,706	2,827,503	(2,453,640)	6,308		14,575,877

						2023	2022f
Net income/(expenditure)			for	the reporting	period
(as per the statement		of	financial activities)			307,189	380,171
Adjustments for:
Depreciation charges						426,998	412,142
(Gain)/loss on investments						3,250	(6,308)
Dividends received (Increase)/decrease	in	debtors				(9,370) 216,118	(8,681) (272,106)
Increase in creditors						110,862	67,040
Net cash flow from	operating			activities		1,055,047	572,258

					2023			2022
Income
Grants received						18,317		356,337
Activities income						656,959		679,507
Cafh income						37,785
Rental income					2,517,188		1,727,485
Less running costs					(995,201)		(837,495)
						1,521,987		889,990
Dividend and interest income						9,370		8,681
Donations received						3,236		55,493
						2,247,654		1,990,008
Expenditure
Activities costs					10,564		8,801
Cafh supplies					29,040
Grant costs					248,526		196,715
Motor travel and	subsistence				6,246		6,149
Staff costs direct					14,729		6,678
Depreciation					426,998		412,142
Establishment costs					59,790		50,470
Financial costs					107,496		108,501
Computer costs					36,784		41,354
Marketing costs					45,758		48,072
Sundry office costs					28,905		24,069
Professional fees					36,337		37,410
Staff costs					863,901		662,865
Staff recruitment,	welfare and	training			10,377		8,340
Stationery and postage					4,929		3,195
Travel and subsistence					6,835		1,384
						(1,937,215)		(1,616,145)
Surplus/(deficit)	ofincome	over
expenditure before investment			transactions			310,439		373,863
Gain/(loss) on investments						(3,250)		6,308
Deficit) ofincome over expenditure				for the year		307,189		380,171