TREASURER’S REPORT TO THE FREEMEN OF OXFORD - YEAR TO 31ST DECEMBER 2023

Author: Simon Gibbs

I enclose a copy of the accounts of the Oxford Freemen for the year.

With thanks to John Sanders, the Freemen’s Apprentice Award was revived this year. Unfortunately, the Presentation Shields had been misplaced since the last ceremony, in 2020, but Howard Crapper, Chairman at the time, very generously donated a silver plate awarded to the winner. The cost of £438 appearing as an expense in the accounts is largely the cost of the lost shields “written off”.

Despite the lack of the Sheriff, as reported in the last copy of “The Oxford Freeman”, the annual Inspection took place in June followed by the traditional aunt sally match at the Plough, Wolvercote. We are again indebted to Greene King, the pub’s suppliers who continue to kindly provide the beer and, thus, allow us to host this event at no cost to ourselves.

We were pleased that the Sheriff was able to attend, and speak at, the annual dinner which again took place at the Perch in Binsey. As was the case in 2022, a very generous pre dinner canapes and drinks reception was laid on by Alison and Steve Cobb at their nearby home. In the absence of an Entertainments’ Secretary no raffle took place to offset some of the cost as had previously been the case. The loss is principally the result of an addition of a service charge to the ticket price. The Committee has decided that in future this should be added to the cost of a ticket.

Freemen's 2023 Accounts.pdf

Our grazing permits remained fully let in 2023, and we also receive income from the Oxford Anglers for the right to fish from the banks of the Meadow. The Oxford Model Flying Club also donate for the right to use the Meadow for their activities.

Donations received, which are always welcome, decreased dramatically during 2023. These contributions usually defray the cost of producing “The Oxford Freeman. The costs of which increased following a change in printer and soaring postal costs for those not opting, or unable to, obtain their copy electronically.

The fall in donations was offset by increased savings rates leading to an increase of over £300 in interest received. In the past few years, I have been asked why we do not move our money into investments that yield a better rate of return. Unfortunately, we do not have a constitution, trust deed or any other formal document required by potential savings institutions. Over the last year this has been a real problem with our existing bankers who, on a review, wanted exactly that information. This led to nine months of intense communications / wrangling during which time our accounts were “frozen.” Following an official complaint to the Bank’s Head Office, the accounts were reinstated and our organisation recognised as “a niche entity”!

There were again no Honoraria payments made to Officers who act in their own time on behalf of the Freemen at large. However, for a third year, given the number of vacant posts and the fact that those who would be entitled to one have always donated the awards back to the Freemen’s funds, the committee decided against awarding any amount this year. Hopefully some of these vacancies can be filled at the anticipated “Common Hall” being held later this year. An event that all, who are able, should seek to attend – a part of the Freemen’s history.

In the Autumn 2023 edition of “The Oxford Freeman”, I reported that we had received a transfer into our account of £2000. I had the sort code and account number from which the transfer was made but not the name of the account holder nor the reason for the receipt. The money was transferred from an account held at Barclays, Regent Street, Swindon branch. Despite asking Freemen if they had any knowledge of this payment, I have heard nothing further. Rather than treat the amount is income, I have shown it as a “Creditor” in our Balance Sheet i.e. as being liable to be paid out at a future date.

The Balance Sheet reflects this small surplus on the Income & Expenditure Account of £116 with an increase in our overall funds from £51,646 to £51,762.