A four-year project to renovate the famous painted ceiling panels of Oxford University's Sheldonian Theatre is nearing completion.

Following the discovery of two time capsules in 1995, the university will now hide a time capsule of its own in the ceiling, when the panels start to go back up.

The 32 panels were taken down in 2004 to allow essential repairs to the ceiling cornice at the historic Broad Street building.

But it was discovered that the panels - showing Truth descending upon the Arts and Sciences to expel ignorance from the University - were in dire need of repair.

Now the project has been completed, scaffolding is being put up so that hessian covering the ceiling can be taken down and the panels fixed back into place by the end of October.

Jeffrey Hackney, chairman of the Sheldonian curators, said: "In the past, not everyone has been an admirer of this ceiling.

"However the conservation work has been miraculous and the newly cleaned colours match the exuberance of Streater's style.

"The work of the conservation team has revealed a true work of art which will give great pleasure to everyone visiting the theatre."

During work in 1995, time capsules dated 1901 and left by restorer Robert Nairn were discovered.

He left a note which said: "To the curators of the Sheldonian Theatre.

"Placed in the ceiling of the Sheldonian Theatre for the next restorer of the painted ceiling to let him see I have thought of him."

When the panels came down in 2004, a pair of trousers was discovered, plus a note from their owner, Frank Morrill, of W Morrill & Son, picture liners, dated March 6, 1901.

It read: "Hope you enjoy yourself when you have found this valuable treasure.

"I expect I will have fed the worms by that time; however I will have a good time before I do so."

Curators are currently deciding what to put in the new time capsule, but it will include details of the latest conservation.

As part of the painstaking restoration, any flaking paint was fixed and discoloured varnish removed.

The paintings were removed from their timber frames and old lining canvasses and glue taken off the back.

Once the timber stretchers were fixed, the paintings, some of which are six metres long, were reattached, varnished again and stored, ready to be transported back to the Sheldonian.

The main hall of the theatre is closed until Friday, November 7.