REGIsfERED CHARrrY NUMBER: 309672
TRusfEES' REPORT AND
FINANCIAL sfATEMENTS
FOR THE YEAR ENDED 31 AUGusf 2024
FOR
WEsfMINsfER COLLEGE OXFORD TRUSr
shdown Hurrey Auditors ￿Mited
ststutory Auditor
20 Havelock Road
Hasting5
East Sussex
TN34 IBP

WESThIINsfER COLLEGE OXFORD TRusr
coKrENTS OF THE FINANCIAL sfATEMENTS
FOR THE YEAR ENDED 31 AUGusf 2024
Page
Reference and Admlnlstrative Details
Trustees, Report
2 to 5
ststement of Trustees, Re$pon51bllitles
Report of the Independent Audltors
7 to 9
ststement of Financial Artivitles
io
ststement of Financial Position
li
Statement of Cash Flows
12
Notes to the Statement of Cash Flows
13
Notes to the Flnancial Statements
14 to 25

WEsfMINsfER COLLEGE OXFORD TRusr
REFERENCE AND ADMINIsfRATIVE DEfAILS
FOR THE YEAR ENDED 31 AUGusf 2024
TRusfEE
Westminster Cdlege Oxford Trust Umht8J
cusroDIAN
TRU5fEES
Tru&ees for Methodist thurch PurrKxqes
DIREcfoRS
OF TRU￿EE
COMPANY
Rewj Canon Sr R Waller (thairrrHn)
Mrs A Bolton
Ms A l Gowman
Revd Dr l R Hustler
Mrs C M Unes
Professor D R Matthews
Dr C Norris
PRINCIPAL ADDRESS
do 20 Havelod( Road
F135ting5
East Sussex
TN34 IBP
REG]sfERED CHARifY NUMBER 309S12
AUDrroRS
AshthMD Hurrey AudliDrs ￿rnited
ststutory Auditor
20 H3ve]ock Road
Hastings
7st Su55ex
IN34 IBP
Paje I

WEsfMINSfER COLLEGE OXFORD TRusr
TRusfEES' REPORT
FOR THE YEAR ENDED 31 AUGU5f 2024
The Trustee presents Its report with the financial siatements of the Charity for the year ended 31 August 2024.
The Trustee has adopted the prov151ons of the Ststement of Recommended prattl￿ (SORP) 'Accounting and Reporting by
Charitles, whlch 15 also in accordance with Financial Reportlng Stsndards applicable in the UK and Republlc of Ireland (FRS
102) (eff￿tive l January 2019).
OBJEcmiES AND ACllVtTIES
Objectives and artivities of the trust
The Charlty's trust deed requlres that the trust property shall be used and occupSed for the PUrp￿e5 of promotlng and
advanclng education and In particular but not ty way of limltauon the trainSng of teachers and the advancement of further
and higher education.
Since April 2000, the objects of the Charity have been achieved through a lea* and other agreements wlth Oxford Brookes
University. Under these agreements, the Charlws main charitsble asset, the Harcourt Hlll Esiate, was used by Oxford Brookes
Universlty for educational purposes in retum for a peppercom rent and an undertaknng by the Universlty to resource and
malntsln spedfied Church-related and educauonal attlvities. These Included the provlslon of chaplaincy and the management
of various collecilons owned by the tharity or other partles.
On 26 Juty 2017 a new 99-year lease for the Harcourt Hlll Estate was signed wlth the Univer5fty. Under this lease, the a)arity
received an Inltlal premium of £3,750,000 and annual rentsl income of at least £420,000 (currendy £495,218) whlch is
avallable to fund educatlonal activities either at (hford Brooke5 Unlver51ty or elsewhere.
The maln acbvity of the Charlty Is to make grdnts which promote or advance educatlon and to monltor the purposes for
which those grants are used.
The Chartty also holds endowment funds for the benefrt of students.
Public bener
The Trustee has Ikid regard to the Charlty Commlssion's guldance on public ￿nefIt.
The educatlonal activitfes advanced by the Charity represent a sub51ontyal public benefit. Thls Is achleved through academlc
acknvities such as theological research, development of thcologlcal thinking and the promotion and dlssemlnation of its
results. All Oxford Brcoke5 Students may enjoy the open spaces of the Harcourt Hlll Estste, and the Lelsure Centre and Sport5
Faclliues are accessible to local schools and organlsatlons and to the general publlc, through a membershlp scheme. The
swlmmlng pool15 no longer avallable to the publlc, due to economlc factors.
The spedallst archives and art collectlons a￿ open to the publlc by appointrnent.
Page 2

WEsfMINsfER COLLEGE OXFORD TRusr
TRusfEES' REPORT
FOR THE YEAR ENDED 31 AUGusf 2024
OBJEcfIvES AND AcrivrrIES
Management and governance arrnngements
The Charity Is govemed by its Trust Deed drawn up and dated 7 March 1955 as amendoj, most recenty on 5 November
20DI. The Trustse is Westhlnster College Oxford TN5t Llmited, which Is governed by Articles of A550ciation as amended on 2
(kiober 2013. The dIr￿rS are appointed by the Methodist Church, nomially for an initial term of three year5 With the
possibilty of rtrappointment for a further three years, and beyond that in exttptlDnal circumstances. The directors may also
Crfjpt further Member5 of the Board. Directors do not recelve any formal training but are selected based on thelr relevBnt
experien￿ and knowledge. New directors retrive an Infomal InduLtton through meetings with existing Board members and
the provision of appropriate background information.
The ￿arity has no employees and all key dedslons are made by the Board. Board member5 are In regular electsDnic contsct
and there are at least three formal Board mtttings each year, for whlch detailed paper5 are prepared and distributed in
advance. The￿ are annual reports from the senior 5tsff of the Oxford Centre for Methodlsm and.Church HisLuryi whose work
is currenuy supported by fundlng from the Trust. The Board continues to engage wlth the University In Its ongoing use and
possible development of the campus.
The Trustee prO￿deS an annual governance report to the Methodist Councll. It has retslned operational link5 with the Churth
throughout the year through the presence of the Secretary of the Methodtst conferen￿ who is an exthao member of the
Board of Directors.
The Board of Directors (the Trustee) use5 the seNlces member of the Connexional Team at Methodist Church House to
convene and service meetIngs of the director5, and to conduct buslness as direrted by the Trustee between meetings.
Page 3

WEsfMINsfER COLLEGE OXFORD TRusr
TRusfEES' REPORT
FOR THE YEAR ENDED 31 AUGusf 2024
ACHIEVEMENT AND PERFORMANCE
Achievements and perfOrn?an￿ of the trust and plans for future periods
Oxford Brookes Is undergoing a period of change, and has announced Its Intention to rationali5e its activities in the
Headington area of Oxford. In the short te￿, the Harcourt Hill site will be used mainly as halls of residen￿, wtth the
ce55ation of teaching on campus. With this in mind, the Directors served notice to Oxford Brwkes that they wlll no longer
fund the Oxford Centre for Methodlst alurch History and its associated staff from the end of the 2023124 academic year. Thi5
has therefore been a pericd of great change for all involved wlth WCOT as it starts a new and exciting chapter of its life.
During the year ended 31 August 2024, the Charity:
made short and mediurn-term grants to the university for the contlnulng provlslon of charitable acknvilies
seNed noti￿ that the charitsble activities will no longer take pla￿ on the Harcourt Hill campu5 from the end of the
2023124 academlc year
set up an agreement with Wesley Memorial Church Oxford to have long term use of a large room (now ￿lled the G5bbs
Room) to house a section of the W￿leY Historical Soc*'s library
- vacated the Ilbrdry at Harcourt Hill and put all the books and artefacts Into storage
- set up and funded two Senlor Research Fellowships effettive from 1st September 2024 to cary out theologlcal research of
relevan￿ to the contemporary Methodist Church, with educational benefits to all concerned. These will be funded for three
- set up and funded two Re￿rch Fellowships to work in the same area, of one yearfs duratlon, stsrtlng on 1st August 2024.
- Continu￿ work on a long-temi vlslon for the work of the Charity In the fleld of education
engaged with other Methodist bodies operattng In the field of edu￿tIOn to offer more coordinated and sustainable 5UPPOrt
for the church's edutstional mi55ion
ade grants to tharitsble organisations who required funds to achieve their aims, ensuriftg that these fitted wlth
Westmlnster College Oxford Trust's objecilves.
The key activiti￿ supported by the Charlty at Oxford Brookes Universlty In the year ended 31 August 2024 were..
The Centre for Methodism and Church History which promoted scholarly research into Methodism and related subjects,
together with academic co116boration and exchange, nationally and intemationally.
- The provlsion of Chaplalncy seN[￿.
The a)ariVs plan5 for futu￿ periods include:
- set up a thriving resource ￿ntre in the Gibbs Room at Wesley Memorial Methodist Church
- ensure all who wish to Use the resources have easy access
- conttnue to fund Research Fellowshlps under the auspices OF an Oxford College
- establlsh a scholars, communlty and SUPPOTt ￿ular meetings of the members
continued engagement with the unive￿Ity as to the development of its estate strategy and Its Implications for the
Westminster campus.
- provrsion Df a Methodlst chaplainry seNice to the University
- strateglc conslderatlon of the heritage aspects of the trust in the longer term
In di5tharging its re5pon5ibility to administer the endowment fund5 of the former Westminster College, the Charity ha5
continued to seek to ensure that the fuTKls are invested well and that the bur5arie5 are awarded where there 15 real need and
merit in accordance with the wishes of those who made the orlglnal scholarshlp bequests.
FINANCIAL REWIEW
Financial review
For the year under review, incoming resour￿ related to investment Income and rent (including the ￿lease of an element of
the lease premium re￿iVed).
Investment values fluctuated sllghtly, largely due to world events outside the Charitys control. Thls did not hinder the pjllcy
of grant-giving, and during the year significant sum5 were donated to educational and Methodist tharitie5.
Various ontroff costs have been, or are about to be incurred, associated with the closure of the Harcourt Hill site and the
Setting up of the new Gibbs RODM.
Page 4

WEsfMINsfER COLLEGE OXFORD TRusr
TRusfEES' REPORT
FOR THE YEAR ENDED 31 AUGusf 2024
FINANCIAL REVIEW
Investment policy and objectives
Followng the strateglc rem￿ of invesknent poli￿1 the overdll allocation for the general funds is currently as follows:
EquSty
Fixed Interest
Property
Cash
60-80%
5-25
5-25%
o-i0%
The Thjstee continues to monftor investmert cl its endowment and resbict8J funds and kNests in equty funds that element
of restricted income which tt does not expett to be spent within the next one to iwo yea￿.
Reserves pollcy
The ￿arity has sought to malntsin such a level of re5eTve5 SO as to ensure its fu￿￿ eXIsten￿ and meet its
administrative expenses out of the Investment income. U￿fjer the new lease. the ￿ntaI pmyments are Sufficient to meet
eypenses and to make grants and the Charity has also r￿r￿ed a signifiont sum in the ft)mJ of the lea* premlum. The
Trusvs pollLy is to retain in reserves suffioent funds to meet its obllgatlons for any three mtsnths of the year. In the year
ended 31 August 2024. reserves comfortabiy exceeded this level. The Trust￿ 15 conftdent that the current level of reserves Is
adequate and at a hlgher level than will be retaned in the lOn￿r terffl.
The free reserves position at the year*nd is £349,485, Kthlch represents the unrestfiLtsJ net current assetslliabilities. In
addition, the Charity ha5 access ￿ noti￿ of than one month to its uryetsictal Investments of £4,061,704.
SrRUCTuR￿ GOVERNANCE AND MANAGEMErir
Govern4ng documert
The charity is controlled by its goveming documenL a deed (* trust and consbtrtes an unlncorporatel charity.
1/3.]￿£.........
Approved by order of the b)ard of trustees on .....
and signed on its behalf by:
Trustee
Page 5

wE￿MINsfER COLLEGE OXFORD TRusr
srATEMENT OF TRUSTEES, RESPONSIBILtriES
FOR THE YEAR ENDED 31 AUGusf 2024
The trustees are responsible for p￿parIng the Trustees, Report and the finanual ststements In accordan￿ with applicable
law and Unlted Kingdom Accounting Standards (Unlted Kingdom Generally AC￿pted Accounting Prattl￿) induding Financlal
Reporting Stsndard 102 'The Financial Reporting Stslldard applicable in the UK and Republic of Ireland"
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Repjrts) Regulation5
200B and the provisions of the tNst d*d requlres the tnjsiees to prepare financial trdtements for each financial year which
give a true and falr vtew of the stote of affair5 of the charity and of the incoming resources and appliGation of resources,
including the income and expenditure, of the charity for that period. In preparing those financlal statements, the trustees a
required to
selert suitsble accounting FK)lictes and then apply them consi•;
observe the methods and principles in the Charity SORP;
make judgements and estimates that are reasonable and prudent.
stste whether appllcable accounting standards have been followed. subject to any materlal departures disd05ed and
explalned In the finandal ststements.
prepare the financial statements on the golng concern basis unle55 it is inappropriate to presume that the charity wlll
continue in bu5ine55.
The trustees are responsible for keeplng proper accountlng records whlch disclose with reasonable accuracy at any time the
financlal posiljon of the charity and to enable them to ensure that the financlal statements comply with the Choritie5 Att
2011, the Charity (Accounts and Reports) Regulation5 2008 and the provisions of the trust deed. They are a150 responsible
for &ifeguarding the assets of the charity and he￿￿ for tsking reasonable steps for the prevention and detectton of fraud and
other irregularities.
Page 6

REPORT OF THE INDEPENDEwf AUDtroRS TO THE TRusfEES OF
WEsfMINsfER COLLEGE OXFORD TRusr
Opinion
We have audited the finanaal statements of Westmlnster College Oxford Tnjst (the 'charty') for the year ended
31 August 2024 whith comwise the Ststement of Flnanclal Acbvitles, the Ststement of Financial pO￿tIon, the Statement of
Cash Flows and notes to the financial ststements, including a summary of signfficant accounting policies. The financial
reporting frdmework that has been applled in their preparation is applicable law and United Klngdom Accounting Standards
(United Kingdom Generdlly Accepted A￿Unting Practi￿), including Finanaal Reporting Stsndard 102 The Hnandal
Reporting Stsndard applicable in the UK and Republlc of Treland,.
In our opinlon the financial statements:
give a tnje and fair view of the stste of the charlty's affairs as at 31 August 2024 and of its incomlng resour￿ and
applicatton of resources, for the year then ended;
have been properly prepared in accordan￿ with Unlted Kingdom Generally Accepted Accounting PraLli￿, including
Flnancial Reporting Stsndard 102 The Financial Reporting Standard appllcable In the UK and Republic of Ireland and
have been prepared In accordance with the requirements of the Charities Act 2011.
Basls for opinion
We condu(led our audit In accordance with International Stsndard5 on Auditing (UK) (ISAS (UK)) and applicable law. Our
responsibilities under those standards are further desrnbed in the Auditorg responsibilities for the audlt of the financial
staternents section of our reporL We are Independent of the charity In accordance with the ethical requirements that are
relevant to our audit of the financlal statements in the UK, Includlng the FRC'S Ethical Stsndard, and we have fulfilled our
other Èthical responsibilities in accordance with these requlrements, We believe that the audlt evidence we have obtained Is
sufflclent and appropriate to provlde a basis for our opinion.
Conclusions relating to golng concern
In auditing the financial siatements, we have conduded that the trust*' use of the golng COn￿M basls of accounting in the
prepardtlon of the financtal statements is appropriate.
Ba*d on the work we have performed, we have not IdentTfied any material uncertsinties relabng to events or conditions that,
individually or collectivelyp may cast signlficant doubt on the charity's abllity to contlnue as a going concem for a period of at
least ￿e1ve months from when the financial statements are authorised for issue.
Our resp)nslbllities and the responsibllitles of the twstees with respett to going concern are describoj in the relevant
section5 of thi5 reFQrt.
Other Inforniation
The trustees are responsible for the other Infomation. The other information comprises the information included Sn the
Annual RepoiL other than the financlal statements and our Report of the Independent Auditors thereon.
Our op1n￿n on the fln3ncial statements does not cover the other Information and, except tc the extent otherwi* ￿pIta￿
stated In our report, we do not express any fomi of assurance conclusion thereon.
In connection with our audit of the ftnandal statements, our resFonslbility is to read the other Information and, in doing 50,
consider whether the other information is materially Inconslstent with the financlal statements or our knowledge obtsined in
the audlt or othe￿iSe appears to be materially rni55tated. If we identify such mterlal Inconsisienaes or apparent materlal
mlsstatements, we are required to detemlne whether this gives rise to a material misstatement in the financial stakments
them5elve5. If, based on the work we have perforni￿1, we conclude that there 15 a material mi55tatemenl of this other
Information, we are required to report that fatt. We have nothing to report In thls regard.
matte￿ on which we are requlred to report by exception
We have nothlng to report In respett of the follDwlng matters in relation iD whith the Charities (Accounts and Reports)
Regulations 2008 require us to rep)rt to you if. In our oplnlon..
- the infomialion glven In the trusteaq, report is inconsistent in any material respert with the financial statements. or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement wlth the accounting record5; or
- we have not retrwed all the Infomiation and explanatlons we required for our audit.
Page 7

REPORT OF THE INDEPENDENT AUDrroRS TO THE TRusfEE5 OF
wE￿MINsfER COLLEGE OXFORD TRusr
Responsibilities of trustees
As explained more fully In the Ststement of Tru5tees' Re5pon5ibilities, the trustees are re5PDnsible for the preparatton of the
financial Statements which give a true and fair vrew, and for such intemal control as the trustees determlne Is necessary to
eneble the prepardtion of financial statements that are free from material mlsststemen¥ whether due to frBud or error.
In preparln9 the finanoal statements, the trustees are responsible ft)r assessing the thariws ability to continue as a going
concern, disclosingi as applicable, tnatters related to going concern and using the golng con￿rn basls of accounting unless
the trustees either intend to Irquidate the tharlty or to cease operatlons, or have no realistic alternative but to do so.
Our responsibllltles for the audit of the financlal ststements
We have been appointed as auditors under Section 144 of the Charitie5 Act 2011 and report in accordance with the Att and
relevant regulations made or having effect thereunder.
Our obJectives are to obtaln reasonable assuran￿ atjout whether the financial Statements a5 a whole are free from material
misStatemenL whether due to fraud or error, and to issue a Report of the Independent Auditors that indudes our opinion.
Reasonable assuran￿ is a high level of assurance, but is not a guarantee that an audit condurted in accordan￿ with ISAS
(UK) wlll always detect a material mlsstatement when it exlsts. Misststements can ariso from fraud or error and a
consldered materfal if, Indfvtdually or In the aggregate, they could reasonabty be exFeCted to Infiuence the economic
decisions of Use￿ taken on the basls of these finanaal statements.
The extent to whlch our procedures are capable of detecting irregularitses, includlng fraud is detsiled below:
Irregularftles, Includlng fraud, are Instances of non-complian￿ with laws and regulations. We design procedures in Ilne wlth
our responsibilitie5, ouuined above, to detett material mi55tatements in respect of irregularitie5, including fraud. The extent
to which our procedure5 are capable of detecting Irregularities, Including fraud is detailed below..
Durlng the plannlng stage of thls audit we oJnsldered the likellhood of irregularities around laws and regulations relwdnt to
the charity, including enquiry of manogemerst and tho* tharged with govemance. These were also discussed during the
audrt planning meeting held by the team. We reviewed the tharitvs 5yStem5 and contro[5 in pla￿, and fomied an assessment
as to their operational effertiveness.
We obtained an understandlng of the legal and regulatory frameworks that are appllcable to the enty and determlned that
the most significant are those that relate to:
-The financial reporting Standard. FRS102
Landlord and Tenant Att 1985
Methodlst Church requI￿rnents
Based on the results of our risk asse55ment we designed our audit procedure5 to identify non-compliance with 5uth law5 and
regulatlons Identified above.
During the course of thls audlt the team dlscussed thls area Wkth trustees of the charfty and also carried out a revtew of legal
expenses for eviden￿ of any issues.
We consldered the rfsk of fraud through management overrlde and, In response, we Incorpordted testing of manual journal
entrtes into our audit approach.
We are therefoTe of the opinion that given the risk level identified, our procedures planned and undertaken, are adequate for
detecting Irregularities.
A further descripyion of our responsibilities for the audit of the finanaal statements is located on the Financlal Reporbng
Council's website at ￿￿.frC.or9.Uklaudlt0rsreSponSlb1lltles. Thls descriptlon forms part of our Repart of the Independent
Auditors.
Page 8

REPORT OFThE INDEPENDENT AUDrroRS TO ThE TRusfEES OF
WEsfMINSfER COLLEGE OXFORD TRU
Use of our ￿pOrt
This rep)rt is made ￿lelY to the charityes trust&s. as a bcmfy, in accordan￿ wlth Part 4 of the Charlties (Accounts and
Reports) Regulation5 2008. Our audit work has been undertaken so that we might state to the tharivs trustees those
matters we are required to state tD them in an auditorg reFQrt and for no other purpose. To the fullest extent permitt8J by
law, we do not accept or assume responsibility to anyone other than the charity and the thari￿s trustees as a kK)dy, for our
audr( work, for this or for the opinions we have formed.
/Lauf/J JY
Pthdown Hurrey Auditors Llmlted
stBtutory Auditor
20 Haveloc* Road
Hastlngs
East Su55ex
TN34 IBP
P￿e9

WEsfMINsfER COLLEGE OXFORD TRusr
srATEMENT OF FINANCIAL ACTllfrrIES
FOR THE YEAR ENDED 31 AUGusf 2024
31.8.24
Totsl
funds
31.8.23
Total
funds
Unrestritted
fund
Restrirted
fiJnds
Endowment
fund
Note5
INCOME AND ENDOWMENTS
FROM
Donations and legaoes
Investment and ￿ntaI income
656,370
9,581
655,951
646,671
Total
656,370
9,581
665,951
646,671
EXPENDrruRE ON
Raising funds
Investment management costs
48,015
894
48,909
13,547
48,015
894
48,909
13,547
Charitable activlties
Grants to Individuals
Grants to insbtutions
2,000
2,000
627,521
4,113
632,093
627,521
Other
56,119
56,119
12,308
Totsl
731,655
2,894
734,549
662,061
Net gainsl(10sses) on investments
(9,570)
(9,570)
(119,482)
INCOMEI(EXPENDrruRE)
Transfer5 between funds
Other recognlsed
gainsl(losses)
Gains1(fosses) on revaluation of
f￿ed assets
(84,855)
(2,000)
6,687
2,000
(78,168)
(134,872)
16
1,152,779
5,638
32,723
1,191,140
<75,982)
Net movement in funds
1,065,924
14,325
31723
1,112,972
(210,854)
RECONCIUATION OF FUNDS
Totol funds brought fO￿ard
12,376,452
67,745
256,967
12,701,164
12,912,018
TOTAL FUNDS CARRIED
FORWARD
13,442,376
82,070
289,690
13,814,136
12,701,164
The note5 fom part of these financial siatements
Page 10

WEsfMINSTER COLLEGE OXFORD TRusr
STATEMENT OF FINANCIAL posrtION
31 AUGusf 2024
31.8.24
Total
funds
31.8.23
Totsl
funds
Unrestricted
fund
Restrictsa Endowment
funds
fund
Note5
FIXED ASSErs
Investments
Investments
Investment property
li
12
4,061,704
12,475,000
49,9D8
289,690
4,401,302
12,475,000
4,485,409
11,750.000
16,536,704
49,908
289,690
16,876,302
16,235,409
CURRENT ASSErs
Debtors
Cash at bank
13
6,268
437,669
6,268
499,808
6.894
410,177
62,139
443,937
61139
506,076
417,071
CREDrroRS
Amounts falling due wlthin one
14
(94,452)
(29,977)
(124,429)
(469,626)
NEf CURRENT ASSErs
349,485
32,162
381,647
(52,555)
TOTAL ASSEfs LESS
CURRErir LIABILrtlES
16,886,189
82,070
289,690
17,257,949
16.182,854
ACCRUALS AND DEFERRED
INCOME
15
(3,443,813)
(3,443,813)
(3,481,690)
NEf ASSErs
13,442276
82,070
289,690
13,814,136
12,701,164
FUNDS
Unrestricted funds
Restricted funds:
t)obs)n Theology Fund
Speight Undergraduate Fund
Postgraduate Bursary Fund
16
13,442?76
12,376,452
2,130
35,830
44,110
29.804
37,261
82,070
67,745
Endowrnent funds
289,690
256.967
TOTAL FUNDS
13,814.136
12,701,164
Tre financial statements were approvoj by the Board of Trustees and authorised for tssue on
and were signed on Its behalf by:
Trustee
The notes form part of these finandal statements
Page 11

WEsfMINsfER COLLEGE OXFORD TRusr
ATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGusf 2024
31.8.24
31.8.23
Note5
Cash flows from operating artivities
Cash generated from operations
(1,116,997)
(393.743)
Net cash used In operdting aLtNittes
(1,116,997)
(393,743)
Cash flows from Investing artivities
Purchase of r￿ed asset Investments
Sale of fixed asset Investments
Rents re￿]Ved
Inte￿5t re￿fved
Dividend5 recelved
(3,942,012)
4,482,689
533,097
10,005
122,849
(4,770,498)
4,664,497
533,097
8,557
114,066
Net cash provlded by Invesbng activitie5
1,206,628
549,719
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginnlng of the reportlng perlod
89,631
155.976
410,177
254,201
Cash and Gish equivalents at the end of
the reporting period
499,808
410,177
The note5 form part of these financial statements
Page 12

WEsfMINsfER COLLEGE OXFORD TRusr
NOTES TO THE STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUSf 2024
RECONCILIATION OF EXPENDrruRE TO NEf CASH FLOW FROM OPERATING ACnVTfIES
31.8.24
31.8.23
Net expenditure for the reportin9 perlod (as perthe Ststement of
Financial Activities)
Adjustments for:
Losses on investsnents
Interest received
Dividends received
Rents received
Decrease In debtors
Decrease In creditors
(78,168)
{134,872)
9,570
(10,005)
(122,849)
{533,097)
626
(383,074)
119,482
(8,557)
(114,066)
(533,097)
320391
(43,024)
Net cash used in operations
(1,116,997)
(393,743)
ANALYSIS OF CHANGES IN NEf FUNDS
At 1.9.23
Cash flow
At 31.8.24
Net cash
Cash at bank
410,177
89,631
499,808
410,177
89,631
499,808
Totsl
410,177
89,631
499,808
The notes form part of the* financlal statements
Page 13

WEsfMINsfER COLLEGE OXFORD TRusr
NOTES TO THE FINANCIAL sfATEMEMrs
FOR THE YEAR ENDED 31 AUGusf 2024
srATUTORY INFORMATION
Westrnlnster College Oxford Tnjst Is an unincorporated charity, registered in England & Wales. The charitys
reglstered number and registered Offi￿ addre55 can be found in the Report of the Trustees.
ACCOUNTING POLICIES
Basis of preparing the financial Statements
The financial statements of the charity, which 15 a public benefit entity under FRS 102, have been p￿pared In
accordan￿ with the Charities SORP (FRS 102) Accounting and Reporknng by Charibes: Statement of RecDmmended
Practi￿ applicAble to charltles preparing their accounts in accordan￿ with the Finanaal Reporting Standard
appllt3ble In the UK and Republic of Ireland (FRS 102) (effective l January 2D19)', ￿n￿n￿al Reporbng Stsndard 102
The Flnandal Reporting Standard applicable in the UK and Republic of Ireland. and the Charltfes Att 2011. The
financial ststements have been prepared under the historical cnst conventlon, with the exception of Investrnents
which are induded at market value, as modified ty the revaluation of certaln assets.
In preparing the financlal statements, the trustees are required to make an d55es5rnent of the ability of the charity to
continue as a going concem. The trustees have prepared a cash flow forecast for the charity which covers the 12
month period from the date of signing these finandal ststements.
On the basi5 of these forecasts and the fart that the charity has substanttal net a55ets, the trustees are confident that
the charity has adequate resources to conttnue in operational existen￿ and to meet its liabilitses as they fall due for
the foreseeable future. As a result of the above, the trustees have conduded that It remains appropriate to adopt a
going con￿￿ basis of preparab'on in these financlal ststements.
Income
All Income Is recognised in the Statement of Financial Adivities once the charity has en￿￿ement to the funds, it Is
probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilitie5 are rec¢)Jnlsed as expenditure as soon as there [5 a legal or constnjrtrve obligation committln9 the charity
to that expenditure, it is probable that a bansfer of economlc benefits will be required In setdement and the amount
of the obligation can be measured reliably. Eypenditure is aco)unted for on an accruals ba515 and has been da55ified
under headings that agg￿ate all cost related to the category. Where costs cannot be direcuy attributed to particular
headings they have been allocated to artivftie5 on a basis con5i5tent with the use of resources.
Grants affered subject to conditions which have not been met at the year end date are noted as a commitment but
not accrued as expenditure.
Investments
Invethents In managed fund5 are valued at the yearend bId-pri￿ value.
Investments In works of art are valued at market values, detemined on the basis of pertodic external ￿luatiOnS. In
the Intervenlng years betheen valuations, the Trustee a55e55es whether the basis for the valuation remains
reasonable.
Investment property
Investment property Is shown at most recent valuatlon on the basis of open market value. Any gains1105ses arising
from changes in market value are recognIS￿ on the Statement of Financial Activities.
A full external valuation is perfomied at least every five years. The Trustee considers the reasonableness OF this
valuation in the intetvening yea￿.
No depreclatlon Is provlded in respect of fteehold land and bulldlngs held for investment purposes.
Taxation
The trust Is a registered tharity and is therefore exempt from income tax and corporatlon tsx on rn￿t of its attnrities.
The charity re￿iVeS no similar exemption in respect of value added tsx.
Paoe 14
continued...

WEsfMXNsfER COLLEGE OXFORD TRUST
NOTES TO THE FINANCIAL sfATEMENTS- conts'nued
FOR THE YEAR ENDED 31 AUGusf 2024
ACCOUNTING POLICIES - continued
Fund accounting
Unrestritted fund5 can be used in accordan￿ with the charitable objectives at the dI￿retion of the trustees.
Restricted funds cAn only be used for partlcular restslcted purpose5 Within the objects of the charity. Restrictions
ari* when specified by the donor or when fund5 are ralsgj for particular restricted purposes.
Endowment Funds
Deposts and managed fund invesbnents represenung the funds that have been invested through the charity have
een allocated the appropriate portion of the interest and other Investment income eamed by the charity. The
income recelved on these endowments is considered restricted funds for expenditure, in line with the original donor's
wishes.
Use of restrlcted funds
An appropriate proportion of the administration costs based on the proportion of the 5ecretarfs time spent
admini#erfng these funds Is charged to restricted fund5.
Hlre purchase and leasing commitments
Rentals pald under operadng leases are chorged trj the Statement of Finanaal Advities on a straight line basts over
the period of the lease.
Recognition of income
All Income from depo&ts, sale of assets and other sources Is credited to the Statement of Financial Actlvities on an
accruals basis. Dstrfbutlons from pooled investment vehldes are recognised when received.
Rents receivable from assets leased under operating leases is recognised on a stralght-line basis over the temi of the
lease. Lease prerniums received on the grant of operatlng leases are recognised on a 5trdight -Ilne basis over the
lease term.
Grdnt income is recognised In the finandal ststements when there is eviden￿ of entitlement to the grant, receipt is
probable and its amount can be measured rellably.
Judgements and estimates
In categorising lease as finan￿ leases or operating lease5, the Trustee makes Judgements as to whether significant
rlsks and rewar(ts of ownership have transfeLTrJ to the lessee, where the Group 15 the lessor. This is relevant to the
lease between The Trust and Oxford Brookes Universlty (OBU) as shown in Note 21, which has been dasslfied as an
operaling lease.
The key judgement in the accounts relates to the Wdluation of the inve5bnent property whlch Is the subject of the
lease with OBU. Details are providoj In Note 14.
INVESTMENT AND RENTAL INCOME
31.8.24
Totsl
funds
31.8.23
Total
funds
Unrestrirted Re*iLted
funds
funds
Endowment
funds
Rents r￿fved
Income receivable from
Investments in managed
funds
DeFost account Interest
533,093
533,097
524,048
116,162
7,111
6,687
2,894
122,PA9
10,005
114,066
8,557
656,370
9,581
665,951
646,671
Page IS
continued...

WEsfMINsfER COLLEGE OXFORD TRusr
NOTES TO THE FINANCIAL sfATEMENTS - continued
FOR THE YEAR ENDED 31 Aufju￿ 2024
INVEsfMENT MANAGEMENT cosrs
31.8.24
Totsl
funds
31.8.23
Total
fijnds
UnrestriLted
funds
Restricted
funds
End0wm￿t
funds
Support costs
48,015
894
13,547
CHARrrABLE AcrIvrrIES COSTS
GTrnt
funding of
acbvities
(see note
6)
Grants to indNtdua15
Grants to institutions
2.000
627.521
629,521
Grdnts offered subjett to conditions which have not been met at the year end date are noted as a commitment but
not accrued as expenditure.
GRANTS PAYABLE
31.8.24
31.8.23
Grants to Indmduals
Grants io in5titution5
2,000
627,521
4,113
632,093
629,521
636,206
SUPPORT cosrs
Goveman
costs
nan
Other
Tots15
Investment management costs
other resources oxpended
48,909
48,909
56,119
49
56,070
48,909
49
56,070
105,028
The sole Trustee of the charity, Westsninsier College Oxford Trust ￿MI￿￿, was Involced a management charge by the
charity of £(407) (2023: £1,474).
Page 16
continued...

WEsfMINsfER COLLEGE OXFORD TRusr
NOTES TO THE FINANCIAL sfATEMENTS- contlnued
FOR THE YEAR ENDED 31 AUGU￿ 2024
SUPPORT cosrs . contlnued
Support Costs, included kn the abov4 are as follow
31.8.24
31.8.23
Invesbnent
management
costs
other
resources
expenda
Total
acbvities
Total
actsvib￿
Bank charges
Trustees, remuneration etc
Auditors, ￿MuneratiOn
Aud￿or5, remunerabon for non aud￿ work
other operating leases
Management fees
48.909
48,909
49
7,362
3,960
45,155
(407)
13,547
820
8,214
1,800
7.362
3,960
45,155
(407)
1,474
48.909
56,119
105,028
25,855
AUDrroRY REMUNERATION
31.8.24
31.8.23
Fees payable to the charivs auditors for the audit of the charty's financial
ststements
Auditors. rernuneratlon fLr non autht work
7J62
3,960
8,214
1,800
TRusfEES' REMUNERATION AND BENEFirs
There were no trusteg remuneraiKin or other benefits ft)r the year ended 31 August 2024 nor for the year ended
31 August 2023.
Trusteeg wenses pald for the year ended 31 August 2024 was £49 (2023: £820). These expenses constitthed
trdvdling expenses redaimed by Trustees attending botrd meetings for the TrusL FQ51age and meet5ng expense5.
During the year, four dlrectors of the Trustee company redathl￿d expen
IQ. COMPARATfilES FOR THE sfATEMENT OF FINANCIAL AcrivrtIES
UnrestrtLtsJ Restricted
fund
funds
Endowment
fund
Totsl
funds
INCOME AND ENDOWMENTS FROM
Investment and rentsl Yicome
637,309
9,362
646,671
EXPENDMIRE ON
Raising funds
Investment management costs
12,678
869
13,547
12,678
869
13.547
Charitsble activities
Grnnts to individuals
Grdnts to lnstltuts.ons
2WOO
632,093
2,113
4,113
632,093
Other
10,834
1.474
12,308
Total
657.605
4,456
662,061
Page 17
continued...

WEsfMINsfER COLLEGE OXFORD TRusr
NOTES TO THE FINANCIAL STATEMENTS- contlnued
FOR THE YEAR ENDED 31 AUGUST 2024
io.
COMPARATIVES FOR THE sfATEMENT OF FINANCIAL AcrIvrrIES- continued
Unrestrtcted
Restrirted
fund
funds
Endowment
fund
Totsl
funds
Net gainsl(10sses) on investments
(119.482)
(119,482)
NEf INCOMEI(EXPENDtruRE)
OtheT recognT5ed gains/(losses)
Gainsl(losses) on revaluatlon of fixed assets
(139,778)
4.906
(134,872)
(82,470)
954
5,534
(75,982)
Net movement in fund5
(222,248)
5,860
5,534
(210,854)
RECONCILIATION OF FUNDS
Totsl funds brought fomard
12,598,700
61,885
251,433
12,912,018
TOTAL FUNDS CARRIED FORWARD
12,376,452
67,745
256,967
12,701,164
ii.
FIXED ASSEf INVEsfMENTS
Analysts of fixed assets investments are as follows:.
UNREsfRIcfED FUNDS
Total
VALUATION
At I September 2023
Additions in year
Dlsposals In year
Net gainlloss on
revalvation or disposal
4,184,171
3,951,582
(4,482,689)
408,640
At 31 August 2024
4,061,704
Valuation at
31.8.2024
UNREsfRIcfED FUNDS
Epworth Climate Stwdshp Inc
Epworth Global Equity
Epworth UK Equity Fund
FP Foreslght Global Real Infra
L&G UK Property Feeder Inc
Royal London Short Term
Royal Mint
Rathbone Ethical Bond Fund
Rathborne Green Bank
Spark Change
Threadneedle UK Social Bond
Vanguard UK Gov Bond
Vanguard US Gov Bond
368,322
2,226,239
368,053
298,362
62,920
47,993
31,878
85,672
159,757
93,911
42,429
147,653
126,505
Totsl
4,061,704
Spelght
Undergraduate Postgraduate DobsonTheol
Fund
BursaryFund
GgyFund
ENDOWMENT FUNDS
Totsl
Page 18
contlnued...

WEsfMINsfER COLLEGE OXFORD TRUS[
NOTES TO THE FINANCIAL sfATEMENfs - thntinued
FOR THE YEAR ENDED 31 AUGUSf 2024
11. FIXED ASSEf INVEsfMEltrs- continued
Investment- Equity Fund5
VAWATION
At I September 2023
Additions in year
Disposals In year
Net gainlloss on revaluation
or d￿posal
123,905
101289
30,773
256.967
15.779
13,025
3,919
32,723
At 31 August 2024
139,684
115,314
34,692
389,690
Speight
UndergraduateF P05tgaduateBu tknbsonTheol
und
rsaryFund
c#Jy Fund
REsfRIcfED FUNDS
Investrnent- Equity Funds
VALUATION
At I September 2023
Additions in year
Disw5als in year
Net gainlloss on revaluation
or disposal
Totsl
16,297
24,977
2,997
+1,271
2￿75
3,181
381
5,637
At 31 August 2024
18?72
28,158
3￿78
49,908
Cash less current Ilabilities
At 31 August 2024
17.458
15,952
(1,248)
31162
Totsl Restricted Funds
35.830
44,110
2.130
82,070
IZ INvESfMEf￿ PROPERTY
FAIR VALUE
At I September 2023
Revaluation
11,750,000
725,000
At 31 August 2024
12,475,000
NEf BOOK VALUE
At 31 August 2024
12,475,000
At 31 August 2023
11,750,000
The historic cost of the rvialued freehold assets Is £508,031.
The Trustee for Methodlst a)urch Pwes as custodian holds the land and bull dings in trust for the prlmary purpose
of training teatheTS. The Trustee for Methodist Church Purposes resen￿ rights over transaciions rdating to trust
property.
Following a merger that took pla￿ on 6 April 2000, the maJoiity of the assets W￿re transferred to Oxford Brookes
Universty and a lease was granted between oxfo￿ Brooke5 Universty and the Trustee for Meth¢xlist Church
Purrtses in respett of the land and buildings.
A professional valuatton was perfomied as at February 2025. The revetsionwy interest wa5 valued by Andrew
Lockhart FtUCS Ma Arb at £11475,000 on the basis of open market val
Page 19
continued...

WESn4INsfER COLLEGE OXFORD TRusr
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 AUGUSf 2024
12.
INVEsfMENT PROPERTY- continued
On 26 July 2017, a full repairing lease with an effettlve date of l August 2017 was grantèj to ￿f0rd Brookes
Universty in respett of land and buildings. A lease premium of £3,750,000 was received by Wethin5ter College
Oxford Trust on 26 July 2017. The premlum has been deferred and wlll be recogni5ed over the life of the ledse.
Fair ￿alue at 31 August 2024 15 represented by:
Valuation in 2009
Valuation in 2016
Valuatton in 2017
Valuation in 2020
Valuakion in 2024
2,391,969
I,IOD,000
7,000,000
750,000
725,000
508,031
12,475.000
13.
DEBTORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR
31.8.24
31.8.23
Trade debtors
Other debtors
6,268
6,268
626
6,268
CREDrroRS.. AMOUNTS FALLING DUE wmiiN ONE YEAR
31.8.24
31.8.23
Trade creditors
Amounts owed tr) connected body corporate
Deferr&d Income
Accrwed expenses
35,IH
479
79,147
9,659
298,373
1.379
79,147
90,727
124,429
469,626
15.
ACCRUAL5 AND DEFERRED INCOME
31.8.23
31.8.23
Deferred income relating to lease premlum: 2-5 years
Accrued expenses: 2-5 years
151,515
151,515
151,515
151,515
Defer￿d income relating to the lease premium.. more than 5 years
3,292,300
3,330.177
3,443,815
3,481,692
Poge 20
continued...

WESTMINsfER COLLEGE OXFORD TRusr
NOTES TO THE FINANCIAL sfATEMENTS- continued
FOR THE YEAR ENDED 31 AUGUST 2024
16.
MOVEMENT IN FUNDS
Net
movement
In funds
Transfers
be￿een
funds
At
31.8.24
At 1.9.23
Unrestrlcted funds
Unrestiicted Funds
12,376,452
1,067,924
C2,￿)0)
13.442?76
Restrtrted funds
[￿b$On TheolcrfJy Fund
Speight Undergrdduate Fund
Postgraduate Bursary Fund
679
29,804
37,262
1,451
4,026
6,848
2.130
35,830
44,110
2,000
67,745
12,325
2,000
82,070
Endowment funds
Endowment funds
256,967
32,723
289,690
TOTAL FUNDS
12,701,IfA
1,112,972
13,814,136
Net movement in funds, included in the above are as fo51ows:
Incoming
reSoU￿S
Re50ur
expended
Galns and
1055e5
Movement
In funds
Unrestricted funds
UnrestrlLtsd Funds
656,370
(731,655)
1,143.209
1,067,924
Restricted fund5
Dobson Theology Fund
Spelght Undergraduate Fund
PostgTrduate Bursary Fund
1.169
4,370
4,042
(ioo)
(2,419)
(375)
382
2,075
3,181
1,451
4,026
9.581
(2,894)
5,638
12,325
Endowment funds
Endowment funds
32,723
32.723
TOTAL FUNDS
665,951
(734,549)
1,181,570
1,111972
Page 21
contlnued...

WESTMINSTER COLLEGE OXFORD TRusr
NOTES TO THE FINANCIAL sfATEMENTS- continued
FOR THE YEAR ENDED 31 AUGusf 2024
16.
MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
Net
movement
In fijnds
At
31.8.23
At 1.9.22
Unrestrfcted funds
un￿Strirted Funds
12,598,700
[222,248)
12.376.452
Restricted funds
Dobson Theology Fund
Speight Undergraduate Fund
Postgraduate Bur5dry Fund
2.455
26,292
33,138
(1,775)
3,512
4,123
29,804
37,261
61.885
5,860
67,745
Endowment funds
Endowment fund5
251,433
5,534
256,967
TOTAL FUNDS
12,912,018
(210,854)
12,701,164
Comparauve net movement In fund4 Included In the above are as follows:
Incoming
resource5
ReSoUr￿S
expended
Gain5 and
1055es
Movement
in funds
Unrestricted funds
Unrestrltted Funds
637,309
(657,605)
(201,952)
(222,248)
RestriLted funds
Dobson Theology Fund
Spelght Undergraduate Fund
Postgraduate Bursary Fund
1,105
4,307
3,950
(2,945)
(1,146)
(365)
65
351
538
(1.775)
3,512
4,123
9,362
(4,456)
954
5.860
Endowment funds
Endowment funds
5,534
5,534
TOTAL FUNDS
646,671
(662,061)
(195,464)
(210,854)
Page 22
ontinued.,.

WEsfMINsfER COLLEGE OXFORD TRusr
NOTES TO THE FINANCIAL sfATEMENTS- continued
FOR THE YEAR ENDED 31 AUGusf 2024
16.
MOVEME￿ IN FUNDS- continued
A current year 12 months prtcf ￿ 12 fftonths comblneA position is as follows:
Net
Transfers
between
fun(ts
At
31.8.24
At 1.9.22
in funds
Unrestricted funds
Unrestricted Funds
12,598.700
845,676
(2,000)
13,442.376
Restrlcted funds
Dobson Theology Fund
Speight Undergraduate FLmd
Postgraduate Bursary Fund
2,455
26,292
33,138
(324)
7.538
10,971
2,131
35,830
44,109
2,000
61￿85
18,185
2,000
81070
Endowment funds
Endowment funds
251,433
38,257
289,69D
TOTAL FUNDS
12,911018
902,118
13,814,136
A current year 12 months ar]d prior ￿ar 12 month5 combined net movement in funds. included In the aknve are as
follows:
Incomlng
ReqoUr￿5
)ended
Gains and
losses
M¢)vement
in funds
Unrestiicted funds
Unrestricted Funds
1.293,679
(1,389,260)
941,257
845,676
Restricted funds
Dob9)n Theology Fund
Speight Undergraduate Fund
p￿radua* Bursary Fund
2,274
8,677
7,992
(3,1N5)
(3.565)
(740)
447
2,426
3,719
(324)
7,538
10,971
1&943
(7,350)
6,592
18,185
Endowment fvnds
Endowment funds
38,257
38,257
TOTAL FUNDS
I￿12,622
(1.396,610)
986,106
902,118
Page 23
continued...

WEsfMINsfER COLLEGE OXFORD TRusr
NOTES TO THE FINANCIAL sfATEMENTS- continued
FOR THE YEAR ENDED 31 AUGusf 2024
16.
MOVEMEKf IN FUNDS- continued
Description of Restricted Funds
Dobson Theology Fund: Legary receivLYI frorn Dr Clfford Briggs tknbson deceased for the School of Theolcgy with
the request that the money is used to pr￿ide a bursary for a good student on the Christlan Studies Distance Learning
Programme who wishes to pursue his or her studies further.
Speight Underyrdduate Fund: Bequest for providing assistan￿ to one or ff￿re deserving students who In
consequence of arcumstsnces frir whlth he or she is in no way resFrsnslble would otherwise be unable for financial
sons to tske up or continue his or her course of study. Also to be utilised for an annual prize for the student
presenting the test paper in the final examinations ftir the ￿rtificate awarded by the College subject to condltEons.
Postgrdduate Bursary Fund: Abrdrd to be made anwally to one or more postgraduats or post.experience students
registered for a validated course of Oxford Brookes Untversty (Faculty of Humanldes and Social Saences).
Endowmert Fund: Made up of the three funds summari5ed above.
17.
RELATED PARTY DISCLOSURES
The Charity has one corForate Trust￿ and Is therefore ulbmotely controlloj by Westminster College Oxford Trust
Limited.
At the balan￿ sheet date, the balan￿ oV￿d by the Charity to tts corp)rate Trustee, We5tmin5ter College Oxford
Trust wa5 £479 (2023 £1.379). This amount is nduded in other creditor5 and relates to unre5triLted funds
onty. The loan Is interest free and repayable on demaThJ.
18.
GRANTS PAID DURING THE YEAR
The following grants were pald to indmduas during the year:_
REsfRIcfED FUNDS
31.8.24
31.8.23
Speight Undergraduate Fund
DOb￿n Theolojy Fund
2,000
2,000
2.113
2,000
4,113
The followlng grants were issued to in5tstution5 during year:_
u￿RE￿RICfED FUNDS
31.8.24
31.8.23
Oxford Brookes UnNeTSty - Oxford Centre for Methodism and Church Hist
Epworth Old Rettory
Wesley Memorial Methodist Church Oxfrird
Wesley House Cambridge
aiff College
The Queens Foundation
MAST grant
Kalisher Trust
Methodist ChaplainLV at Oxford Brod(es Unrversity
The Fannington Trust
318.396
19,343
60,000
127,750
loo,000
50,000
50,000
loo,000
loo,000
25,000
loo,000
25.000
200,000
643?96
632,093
REsfRICTED FUNDS
Postgraduate Bursary Fund: Oxford Brookes Univergty- Academr Staff Sabbaticals
Page 24
continued...

WEsfMINsfER COLLEGE OXFORD TRusr
NOTES TO THE FINANcfAL sfATEMENfs - continued
FOR THE YEAR ENDED 31 AUGiisf 2024
18.
GRANTS PAID DUIUNG THE YEAR- continued
643296
636,206
19. LEASE TO OXFORD BROOKES UNLVERsirY
On 26 July 2017, a full repairing lea* with an effedNe date of l August 2017 was grdnted to Oxford Brookes
UnNetsty In ￿Fect of land and buildings. A lea* premium of £3.750,000 was received by Westhlnster Q)Ilege
Oxford Trust on 26 July 2017. The premium has been deferred and wlll be recognised over the life of the lease.
An annual market rent ts to iE received from Oxford Brooke5 Universty of £495218 per annum. This is to be
revlewed every 5 years under an upwards only rent review.
The future minlrnum lease payments receivable under thls rnnfjnolkble operating lea￿ for eath of the following
periods are:
31.8.24
31.8.23
Less than l year
withln 2-5 years
More than 5 years
495,218
1,980,872
42,846,748
495,218
1,980,872
43?44,966
45W7,838
45,836,056
Page 25