Female collecting round Oxford, perhaps (4)
I believe the answer is:
shoe
'oxford perhaps' is the definition.
(oxford is a kind of shoe)
'female collecting round' is the wordplay.
'female' becomes 'she' (I've seen this before).
'collecting' is an insertion indicator.
'round' becomes 'o' (round can mean a round object).
'she' placed around 'o' is 'SHOE'.
(Other definitions for shoe that I've seen before include "Plate nailed to underside of horse's hoof" , "Pump, for example" , "Playing card box" , "Slingback, for example" , "Camera mounting" .)