Councillor Turner sent apologies for absence but joined the meeting online.

None.

If the SJVG wishes to exclude the press and the public from the meeting during consideration of any of the items on the exempt from publication part of the agenda, it will be necessary for the SJVG to pass a resolution in accordance with the provisions of Paragraph 4(2)(b) of the Local Authorities (Executive Arrangements) (Access to Information) (England) Regulations 2012 on the grounds that their presence could involve the likely disclosure of exempt information as described in specific paragraphs of Schedule 12A of the Local Government Act 1972.

The SJVG may maintain the exemption if and so long as, in all the circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information.

The Shareholder and Joint Venture Group passed a resolution in accordance with the provisions of Paragraph 4(2)(b) of the Local Authorities (Executive Arrangements) (Access to Information) (England) Regulations 2012 to exclude the press and members of the public on the grounds that Oxford City Council, Town Hall, St Aldate’s, Oxford OX1 1BX their presence could involve the likely disclosure of exempt information as described in specific paragraphs of Schedule 12A of the Local Government Act 1972.

The Group is asked to consider any comments or recommendations submitted by the Finance and Performance Working Group (of the Scrutiny Committee) in relation to the substantive items on the agenda or in respect of other issues the Working Group considers appropriate to raise.

The SJVG received a written report from the Finance and Performance Panel which provided overviews on several distinct areas outlined within the update report from OX Place and recommendations from the Panel.

The SJVG discussed the report in private session.

The SJVG noted the contents of the report.

The Director of Law, Governance, and Strategy and the Group Finance Director submitted commentaries on reports relating to OX Place.

The reports from the Director of Law, Governance, and Strategy and the Group Finance Director to follow the publication of the agenda, as a supplement.

The SJVG received written reports from the Group Finance Director and the Director of Law, Governance, and Strategy, which provided overviews on several distinct areas outlined within the reports from OX Place.

The SJVG discussed the reports in private session.

The SJVG noted the contents of the reports.

A report of the OX Place Chair to update the Shareholder on the day-to-day actions and progress since the previous OX Place Shareholder Joint Venture meeting. 

The Shareholder and Joint Venture Group is recommended to:

1.    To note the updates in the report.

2.    To make the appointment of the Manging Director, Roger Thompson, to the OX Place board.

The Shareholder and Joint Venture Group resolved:

1. To note the updates in the report.
2. To make the appointment of the Manging Director, Roger Thompson, to the OX Place board.

The chair welcomed the new MD, Roger Thompson and the members of the SJVG introduced themselves to the new MD.

The Chair of Board of OX Place had submitted a report to SJVG to report on updates in the company and make the appointment of the Managing Director, Roger Thompson, to the OX Place Board.

The SJVG discussed the report in private session.

The SJVG noted the contents of the report and agreed to appoint Roger Thompson to the Board of OX Place.

Present for this part and the remainder of the meeting:

Kerry Kyriacou, Non-Executive Director

Jane Winfield, Non-Executive Director

Rosemary Farrar, Non-Executive Director

Roger Thompson, Managing Director

Tim Bacon, Interim Head of Development

David Watt, Strategic Finance Manager

Ian Cox, Non-Executive Director

The Shareholder and Joint Venture Group resolved:

1. To note the updates in the report.
2. To make the appointment of the Manging Director, Roger Thompson, to the OX Place board.

A report from the Strategic Finance Manager David Watt to present the audited financial statements for the year ending 31 March 2025. Despite a slowdown in development activity compared to previous years the company has continued to deliver on its mandate to provide affordable, high-quality housing while maintaining financial sustainability. The company discontinued its management of properties held within its investment company mid-year through selling its portfolio to Oxford City Council’s HRA. 

The Shareholder and Joint Venture Group is recommended to:

1.    To note the exemplary Audit Completion Report received by OX Place from Mazars

2.    To note the strategic priorities for 2025/26.

3.    To note that the company Board following completion of the 2024/25 year-end audit and given the level of retained earnings held within the housing group, were able to declare a Shareholder dividend in line with OCC’s MTFP for the third year in a row.

The Shareholder and Joint Venture Group resolved:

1. To note the exemplary Audit Completion Report received by OX Place from Mazars
2. To note the strategic priorities for 2025/26.
3. To note that the company Board following completion of the 2024/25 year-end audit and given the level of retained earnings held within the housing group, were able to declare a Shareholder dividend in line with OCC’s MTFP for the third year in a row.

The Board of OX Place had submitted a report to SJVG to report on the outcome of the company’s 2024/2025 External Audit and Financial Statements.

The SJVG discussed the report in private session.

The SJVG noted the contents of the report.

The Shareholder and Joint Venture Group resolved:

1. To note the exemplary Audit Completion Report received by OX Place from Mazars
2. To note the strategic priorities for 2025/26.
3. To note that the company Board following completion of the 2024/25 year-end audit and given the level of retained earnings held within the housing group, were able to declare a Shareholder dividend in line with OCC’s MTFP for the third year in a row.

Recommendation: to approve the public and private minutes of the Shareholder and Joint Venture Group meetings on 25 June 2025 as a true and correct record.

The public and private minutes of the meetings held on 25 June 2025 were agreed as a true and accurate record.