OXSHorrTRUST FUND IRe8iStered Charity No. 305089 Accounts for the Year ended 31st March 2025 Page I Contents Pages Contents Trustees, Report 2to3 Independent Examiner'5 Report Statement of Flnancial Activitles Balance Sheet Notes to the Accounts 7t08 Prlnclpal address of the Trust: Oxshott Village Centre 19 Holtwood Road Oxshott Surrey KT22 QQL
OXsHoTRUST FUND (Registered Charity No. 3050891 Page 2 Trustees. Re rt for the ar ended J15t March 2025 GOVERNlhlG INSTRUM£pifs AND OBJECTIVES The Oxshott Trust Fund is a charity govèrned by a Trust Deed dated 27th April 1959. The objects are charltable purp05e5 for the benefit of the Inhabitants of Oxshott and its immediate vicinity. TrUSTEES- thÈ following have served as Trustees: Trustees.. Geoffrey Moyle Chairman Michael CarpentÈr Stuart Knee Treasurer The following were administrative tfUStee5 by vlrtue of co-option or nomlnation to the management committee,. Hilary Oyson Angela Horne Roger Mar5den Liz McGibbon Honorary Secretary Don Porter Jackie Topp Lindy Wheeler {Resigned 1st April 20251 NSck Matulovlch {Appointed 7th April 20251 All the above are residents of Ox5hott except for Hilary Dyson and Roger Marsden. The Trusi Deed does not stlpulate a specific term of office for Trustees and members of the manaEement committee and therefore varying periods are served. The composition of the committee is reviewed and refreshed at re8ular intervals to ensure the structure still supports the decision making that is in the charlty's best interest5. Where significant issues or projects are in progress, such as the proposed new Sufgeryi members will tend to serve for longer periods. REVIEW OF ACTivmES The Oxshott Trust Fund currently rneets its object5 through its role as owner and manager of the Ox5hott Village Centre, which opcratC5 from a site in Holtwood Road, Oxshott under the lerm5 of a lease granted on 17th December 1963 forthe period to 2060 by the Crown Estate, which is the owner of the land. Durin8 the year the Trust contlnued to mana8e the Oxshott Village Centre and to act as landlord to the Oxshott Medical Practlce and as licensor to the Vernon Educational Trust Limited on behall of Danes Hill School. There Is contlnuing progress regarding the advancement of rhe in principle agreement that has been reached with the Crown Estate for a joint development on a 50150 basis of a new medical centre adjacent to the current buildln8. A detailed plannin8 application has been submSued with the resolution of a number of biodiversity issues being thc only out5tandinE malter before thÈ grantlng of final approval. The applitation to Elmbrid8e Borou8h Council for strate8ic communlty infrastructure levy fundlng was successful. A substantlal grant has been approved to a5515t with the fundlng of the proposed development. The underlease granted to the Oxshott Medical Practice expired on the 30th September 2022. The underlease has now been extended for a further five years. or to a date on which the Oxshott Medical Practice become5 entitled to occupythe new medical centre. CONVERSION TO A CIO In order to provide a more suitable structure for the proposed development of the new medical centre, the Oxshott Trust Fund IOTFI is being converted into a Charitable Incorporated Organisation ICIQ). A new CIO was registered on the 16th October 2024 under the name of the Oxshott Village Trust lo1. The a55ets and liabilities of the OTF are in the process of being transferred into the OVT. Once this exercise has been completed the OTF will be dissolved. The Trustees do not expect there to be any slgnrficant reduction in the value of the net assets.
OXSHorrTRUST FUND (Registered Charity No. 305089) Trustees, Report Icontlnuedl Page 3 RESERVES The Trustees have set up a separate Property Reserve for the pupose of providing for any exceptional costs relating to lil the refurbishment of the existing bulldings lill the extension of the Head Lease from the Crown Estate and lili} the development of a new medical centre. These designat funds are represented bv combination of investment5 and deposits. The Reserve wa5 established by an initial transfer from the Accumulated Fund, which has been Subsequently increased by transfers out of operating surpluses and reduced by any exceptional costs incurred. FINANCIAL REVIEW Overvlew: the Trustees are pleased to report an overall surplus of £73.3k for the year. Although this Is a reduction from the £97.8k reported reported last year, it stlll represents an excellent performance given the 518nificant level of expenditure that has been incurred to date on the project to build the new surgery, the further refurbishment of the Village Centre and increased spend on the current surgery. A further £50k has been transferred to the Property Reserve and the balance of £23.3k has been transferred to the Accumulated Fund. Further informatlon on the financial performance in the year Is set out In the sertlolls below. Manasement of the Vlllage Centre: Gross lettings were maintained at a similar level to last year1£37k) despite the Increased competition withln the Village from the Community Hub. Total operating costs increased by £15k to £71k due to a si8nificant increase in repair costs - the main items were the refurbishmeni of the tollet facilitles1£8kl, resandlng the hall floors {£6kl, a new boiler for the ha1151£8kl, a new boiler1£6kl and sinks1£5k} for the surgery and some internal redecoration of the halls1£2kl. Most of the other costs increased as a result of Inflatlonary increases by the suppliers. As a result of all the above increases in costs the net operatin8 def icit increased to £33k. Further professlonal fees of almost £41k were incurred on thÈ proposed new medical centre including £31.5k on submitting a planning application to Elmbridge Borough Council. 50% of all these cosls have been recharged to the Crown Estate as agreed between the parties and the net tosts have been shown as exceptlonal items. Other Income: The level of rental Income received from the Medical Prartice and the amount pald over to the Crown Esiate have both Increased th15 year as a result of an increase in the annual rent (see Note 11. Licence fee Income from Bevendean School Increased this year due to the annual Inflatlonary increa5e- usage of the grassed area was the same as last year. The level of dep051t interest increased to £24k as most of the deposits were rolled over Into new terms to tske advantage of the higher market rates available. The two lon8 term investTnents perlormed well durin8 the year and produced a further unreali5ed gain of almost £9k, which in total now stands at over £124k. A further £SOk was transferred to the Property ReseNe and the remaining surplus of £23.3k wa5 transferred to the Accumulated Fund. Reserves: A5 at 31st March 2025 the Trust had net current assets of£875k and total Reserve5 uf £1,366k of which £800k is now designated a5 Property Reserve and the remaining reserves amounting to £566k are general funds available for the ongoing operations of the charlty. DECLARATION This report wa5 approved by the management committee on Ilth July 2025 and signed on their behalf by GH Moyle (Chairl SR Knee (Treasurer}
OxSHoTRUST FUND (Registered Charity No. 305089) Page 4 INDEPENDENT EXAMINER'5 REPORT TO THE TRUSTEES I report on the accounts of the above charity I'the Trust") forthe year ended 31" March 2025 which are set out on pages 5 . 8. Re5pectiYe Responsibillties of the Trustees and the Examiner The charit¢s trustees are responsible for the preparation of the accounts. The charitvs trustees consider that an audit is not required for this year under section 144121 of the Charltles Act 2011 Ithe Act) and that an independent examination is needed. It is my responsibllity to: examine the accounts undersection 145 of the Act follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5llbl of the Act state whether particular matters have come to my attention. Basis of the Independent Examiner's Report My examination wa5 carried out In accordance with the General Dirertions glven by the Charity Commission. Thls examination Includes a Tevlew of the accounting records of the Trust and a comparlson of the accounts with those records, It also includes consideration of any unusual Items or disclosures In the accounts and seekln8 explènatlons from you as trustees concernin8 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 3ccount5 presènt a "true and fair view" and thc report is limited to those mattor5 set o(rt in the nÈxt statement. Independent Examlnerfs Statement I conflrm that no matter has come to my attention In connection with the examinatlon.. 111 which gives me cause to believe that In any material respert:_ the accounting records were not kept in accordance with section 130 of the Act,. or the accounts did not accord with the accountlng records; or the accounts dld not comply with the appllcable requirement5 concernlng the format and content of accounts set out in the Charities (Accounts and Reports) ReBulatlons 2008 other than that the accounts give a true and fair vlew" which as explained above Is not a matter considered a5 Part ofthe examinatlon., or [21 to which in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. lan Dilks Hlghlands 7 Holtwood Road Oxshott Surrey KT22 OQL Date: AL¥ J.b 2t)2.-
OXSHOThTRUST FUND (Registered Lharity No 305089) srATEMENT OF FINANCIAL AcTIVlEs for the year ended 31st March 2025 Page S Mana ement of the Vlll e Centre 2024 2024 2025 2025 Lettings Income eratin Ex nses: Water and Waste Collection less.. Recharged to Medical Practice Net Water and Waste Collection Lighting and Heating Insurance Cleaning Upkeep of Grounds Repairs and Maintenance Administration and Office c05t5 Ground Rent Sundry Expenses Total Operating Expenses {Note 2) Operating Deficit before Exceptional ilem5 37,622 37,589 5,692 2,556 3,136 3,237 4,324 6,819 6,894 20,657 9,353 120 1,009 6.508 2,891 3,617 3,540 4,425 7,177 6,240 37,496 8,091 120 252 55,549 17,927 70,958 33,369 ExceptSonal Items.. (Note 31 10,237 20,385 Operatlni Deflclt after Exceptlonal ftems 28,164 53,754 Other Income Rentals (Dote 11 less: paid to the Crown Estate 51,840 6,510 45,330 40,247 18,910 58,222 6,867 51,35S 42,071 24,754 Llcence Fees (Note 11 Bank and Deposit Intef est 104,487 118,180 Operatlng Surplus belore Inve5tmeTht Galns 76,323 64,426 Unreallsed gain on investments (Note 41 21,498 8,890 Surplus for the year after Investment Gains 97,821 73,316 Transfer to Property Reserve (Note Sl 50,000 50,000 Surplus transferred to the Accumulated Fund 47,821 23,316 Accumulated Fund brought forward 495,109 542,930 Accumulated Fund carried fon¥ard (Note 6) 542.930 566,246
OxSHoTRUST FUND (Registered Charity No 305089) Page 6 BALANCE SHEEf as at 31st Mavth 2025 2024 2025 Flxed Assets Note I 217.113 217,113 Investments Note 4 265,529 274,419 Current Assets Debtors 47,417 753,599 15,140 25,163 853.136 5.422 Deposit Accounts Cash and Bank 8alance5 Note I Totsl Vrant Assets 816,156 883,721 Less: Credltors 5,868 9,007 Net Curront A55ots 810,288 874,714 NET ASSETS 1,292,930 1,366,246 RESERVES Property Reserve Note 5 750.000 800,000 Ac¢umulated Fund Note 6 542,930 566.246 TOTAL RESERVES 1,292,930 1.366,246
OXSHOThTRUST FUND IRegistered C,h&rity No 305089) Notes to the Accounts Page 7 Note I Accountlng Policies. 8asls of A¢countln8: The accounts have been prepared In accordance with the Statement of Recommended Practice appllcable to Charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities, issued by the Charity Commission. The accounts have been prepared under the historical cost convention. except for investments, which are included at market value (bid pricel. All income and expenditure is reco8nised on an accruals ba515, Now that the CIO has been formed, the a55ets and liabilities of the Oxshott Trust Fund will be transferred at a later date into the CIO and the Oxshott Trust Fund will be dissolved but the Trustees do not expect there to be any 5iBnificant reduction in the value of the net assets and accordlngly the Trustees continue lo prep3re these account5 on a gaing concern basis. Flxed Assets: Fixed assets comprise the original cost of the building and site work5. Deposlts: The deposlt accounts have notice periods or maturity terms of no more than one year. Llcence Fees: Licence fees comprlse the fees recelved for lil the use of the grassed area and Illl the parking concessions granted to Vernon Trust Limited on behalf of Danes Hill School. Rental Incorne: As part of the process for extending the new underlease to the Medical Practice, the annual rental was Increased by £2,553; the rental income for 2025 includes additional rent of £6,382 forthe period to 31st March 2025. Note Z Analys1$ of Oper*in8 Expenses. 2024 2025 Dlrect Charitable Expenditure Fundraising Administration 46.196 62,867 9,353 55,549 8,091 70,958 Note 3 Exceptlonal Items. 2024 2025 Gross fees Les5: recharged to the Crown Estate Net COSt5 20,474 10,237 10,237 40,770 20,385 20,385 Gr055 fees comprise planning fees of £31.48812024 £Nill and advisory fees of £9,282 (2024 £20.4741 Note 4 Investmenls. 2024 2025 Market Value brought forward Unrealised gain on revaluation Market Value carried forward 244,031 21,498 265,529 265,529 8,890 274.419 The historical cost of the investments is £150,000 (2024 £150,000)
OXSHOThTRUST FUND {Kegislered Charity No 305089) Note5 to the Accounts (contlnued) Pa8e 8 Note 5 Property ReseNe Z024 2025 Balance brought for¥vard Transfer from Statement of Financial Activities Balance tarried forward 700,000 50,000 750,000 750,000 50,000 81X>,000 Note G Attumulated Fund 2024 2025 Balance brought forward Transfer from Statement of Ftnancial Activities Balance carried forward 495,109 47,821 542,930 542.930 23,316 566,246 The Accumulated Fund include5 net unrealised gains of £124.419 {2024 £115,529) ari5irig from the revaluation of Investments.