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2023-12-31-accounts

BURFORD CHARITIES

THE BURFORD RELIEF IN NEED CHARITY

Report and Financial Statements

Year Ended 31 December 2023

Charity no: 1036378

BURFORD RELIEF IN NEED CHARITY 31 DECEMBER 2023 REPORT OF THE TRUSTEES

Charity Registered Numbers: 1036378

EX OFFICIO

The Reverend Tom Putt

NOMINATIVE TRUSTEES (Town Council)

Mrs J Tunnell-Westmacott Mr D Cohen

CO-OPTED TRUSTEES

Mr N Street Mrs P Barraclough Mr D P Griffin FCA (Chairman)) Mrs G Hames Mr J . Harrington Mrs S Doris (Apointed August 2023) Dr Simon Albert MBBS DRCOG MRCGP (Deceased 2023) Mr C G Williams Mr D Lawton (Treasurer ) Mrs K Gadd ( Appointed 2023)

HONORARY SECRETARY

Mrs A Youngson Whitehill Farm Burford Oxon, OX18 4DT

BANKERS

TSB Bank plc, 13, High Street, Witney, Oxon, OX28 6PH

INDEPENDENT EXAMINER

B L Connolly ACA Arubus Chartered Accountants Units 1-4 Stockton's Courtyard Overbury Glos GL20 7NT

THE BURFORD RELIEF IN NEED CHARITY 31 DECEMBER 2023 REPORT OF THE TRUSTEES (CONTINUED)

The trustees present their Annual Report and Receipts and Payments Accounts for the year ended 31 December 2023

Charitable Status

The Burford Relief in Need Charity is administered under a trust deed (Charity Commission reference 238,130 A/2) dated 20 February 1992.

Objectives and Activities

The main activity of the charity is in Burford with an area of benefit within a seven mile radius of the Tolsey in Burford. The Burford Relief in Need Charity provides financial assistance in case of need, and educational assistance to help recipients earn a living and to promote the relief of sickness and the preservation of health among people living in the area of benefit.

Principal Address

The principal address is:

Whitehill Farm Burford Oxon OX18 4DT

Tel: 01993-822894

Trustees

In accordance with the scheme approved by the Charity Commissioners, nominated trustees appointed by the Burford Town Council, serve for a term of four years. Co-opted trustees are appointed for a term of five years by a resolution of the trustees passed at a special meeting of the Trustees. When vacancies arise, local persons are invited by the trustees to become co-opted trustees. New trustees are briefed before their appointment is confirmed.

Meetings

The trustees held four ordinary meetings during the year.

Investment powers

The trustees have no special investment powers. Accordingly, investments are confined to narrower-range securities and common investment schemes. Cash surplus to immediate requirements is invested in the COIF Charities Deposit Fund. The Charity developed specific guidelines for investment of the proceeds of sale of the Shilton Road as set out below:

Guidelines for Investment of proceeds from sale of Shilton Land

and geography (some exposure to Far East for its growth potential)

with less exposure to US. Liquidity remains relevant so no alternative investments.

Too much emphasis on active management can lead to higher costs

and complexity of transactions. Avoid non-sustainable non-ethical investments.

Following the closure by the Health Authority of the Burford Cottage Hospital, the assets of the Burford Health Care Fund were transferred to the Burford Relief in Need Charity. Consequently, the Charity Commissioners on 15 July 2005 approved the alteration of the Scheme dated 20th February 1992 to include the relief of sickness and the preservation of health among people residing in the area of benefit. This has enabled the trustees to make grants to promote good health and assist those physically handicapped as well as assisting in education needs and helping those in financial need.

The charity does not employ any staff. The charity is administered by the trustees who do not charge for their services.

The trustees have had regard to the guidance issued by the Charity Commission on public benefit.

Achievements and Performance

The Burford Relief in Need Charity continued to give assistance to relieve hardship and distress, for educational purposes and for health care. Grants for the year totalled £14,654 of which £4,400 was a payment towards the running costs of the new day centre at Warwick Hall and £5000 towards the cost of the re equipping of the recreation ground playing fields.

Financial Review

The Unrestricted Fund showed income in excess of expenditure totalling £122,458 for the year. As at 31 December 2023, the market value of investments of the Unrestricted Fund amounted to £204,967 an increase of £2408, whilst the market value of the Endowment Fund investments at £109,885 increased by £4,580. The final tranche of the sale of land at Shilton Road was completed in December 2021 . The proceeds of Shilton Road land sale investment have increased by £29247 and now stand at £1,106,145. This year has provided a further £116,477 based on increased coverage payment from the developers. The current value of this investment held in the Brewin Dolphin portfolio is £151,405. The trustees agreed that based on the increase in funds held in current account that 3 fixed one year term deposits should be made with Building Societies. These investments should not exceed £85,000 in total in any one Society. Currently the three bonds expiring in 2024 total £210,000.

The Charity’s policy on reserves is to retain funds so as to support the operation of the new Day Centre for the elderly and meet any contingencies that might arise for assisting people in need, for the preservation of health and to assist the education costs of students.

Plans for Future Periods

Having provided grants of £200,000 over 2015 and 2016 towards the building, fitting out and furnishings of a new day centre to replace the facility lost when the Burford Cottage Hospital was closed, the trustees plan to assist in funding some of the costs commensurate with the Relief In Need Charity objectives and activities. The day centre is now operating, so the Relief in Need Charity is assisting in supporting some of the running costs out of its income.

The trustees continue to review their provision of Almshouse accomodation in the Burford vicinity and have agreed with The Charities Commission that Relief in need Funds can be expended on the acquisition of a further property up to a limit of £350,000. The trustees are currently negotiating the purchase of a further property in Burford and should this be successful the property will be transferred to the Burford Almshouse Charity portfolio.

Statement of trustees’ responsibilities

Charity Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charities and of the surplus or deficit of the charities for that period. In preparing those statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charities and to enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008.

They are also responsible for safeguarding the assets of the charities and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Professional advisers and relevant organisations

Details of professional advisers and other relevant organisations are provided at the front of these accounts.

The Trustees financial adviser is Progressive Strategic Solutions LLP,The Granary, Steadings Business Centre, Church Road, Maisemore, Gloucestershire, GL2 8EY who is authorised and regulated by the Financial Conduct Authority

Independent Examiner

Mrs B L Connolly was first appointed as the charity’s independent examiner in 2014. The trustees intend to invite Mrs B L Connolly to undertake the independent examination of the trusts for the financial year to 31 December 2023.

Approved by the Trustees on 11[th] March 2024 and signed on their behalf by:

D Griffin Chairman of the Trustees

Charity Name No (if any) The Burford Relief in Need Charity 1036378 Receipts and payments accounts CC16a

Period start date Period end date For the period from To 01-Jan-23 31-Dec-23

Section A Receipts and payments

Unrestricted
funds
Restricted
funds
Endowment
funds
Total funds
Last year
to the nearest £
to the nearest £
to the nearest £
to the nearest £
to the nearest £
A1 Receipts
Rents from land
2,000
-
-
2,000
2,000
Investment income
16,094
-
-
16,094
22,099
Bank interest
3,161
-
3,161
3,242
Donations
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Sub total(Gross income for
AR)21,255
-
-
21,255
27,341
A2 Asset and investment sales,
(see table).
Sale of Shilton Road Land
116,377
-
116,377
-
-
-
Sub total -
-
116,377
Total receipts 137,632
-
-
137,632
27,341
~~aoe~~
~~——————~~
A3 Payments
Educationgrants
1,175
-
-
1,175
1,894
Grants for almspeople
2,079
-
-
2,079
914
Health caregrants
-
-
-
Othergrants
7,000
-
-
7,000
284
Grant towards new daycentre
4,400
4,400
4,100
Legal fees
-
-
-
Propertyrepairs
-
-
-
Insurance
-
-
-
General expenses
165
-
-
165
103
Accountancyfees
355
-
-
355
Sub total 15,174
-
-
15,174
7,295
A4 Asset and investment
purchases, (see table)
-
-
-
BuildingSociet Investments
-
-
Brewin Dolphin Portfolio Investment
-
-
134,931
Sub total -
-
-
-
134,931
Total payments
15,174
-
-
15,174
142,226
Net of receipts/(payments)
122,458
-
-
122,458
- 114,885
A5 Transfers between funds
-
-
A6 Cash funds last year end
231,224
-
231,224
346,109
Cash funds this year end
353,682
-
- 353,682
231,224
~~===~~
~~==~~
~~=~~
CCXX R6 accounts (SS)
6
13/03/2024
Section B Statement of assets and liabilities at the end of the Section B Statement of assets and liabilities at the end of the Section B Statement of assets and liabilities at the end of the period
Categories
Signed by one or two trustees on
behalf of all the trustees
B5 Liabilities
B3 Investment assets
B2 Other monetary assets
B4 Assets retained for the
charity’s own use
B1 Cash funds
CCXX R7 accounts (SS)		 Details
Agricultural land
Common investment funds
Common investment funds
Details
Total cash funds
(agree balances with receipts and payments
account(s))
TSB
Coif Deposit Fund
Coif Deposit Fund
Details
Dudley BS 1 Year bond
Cambridge BS 1 Year bond
Sale Of land Shilton Road
Brewin Dolphin Investments
Details
Details
Saffron BS 1 Year bond
Signature
7		 Unrestricted
funds
Restricted
funds
to nearest £
to nearest £
12,577
-
41,819
-
89,286
-
85,000
85,000
40,000
353,682
-
OK
OK
Unrestricted
funds
Restricted
funds
to nearest £
to nearest £
-
-
-
-
-
-
-
-
-
-
-
-
Fund to which
asset belongs
Cost (optional)
Endowment
13,363
Endowment
46,299
Unrestricted fund
175,770
Endowment
995,400
Endowment
134,930
Fund to which
asset belongs
Cost (optional)
-
-
-
-
-
-
-
-
-
Fund to which
liability relates
Amount due
(optional)
-
-
-
-
-
Print Name
D Lawton
D PGriffin		 Endowment
funds
to nearest £
nil
nil
-
OK
Endowment
funds
to nearest £
-
-
-
-
-
-
Current value
(optional)
-
109,885
204,967
1,106,145
151,405
Current value
(optional)
-
-
-
-
-
-
-
-
-
When due
(optional)
Date of
approval
13/03/2024

CCXX R7 accounts (SS)

13/03/2024

Independent examiner's report on the accounts

Report to the trustees/ members of The Burford Relief in Need Charity

On accounts for the year ended 31 December 2023

Charity no 1036378

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner’s statement

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention

  1. which gives me reasonable cause to believe that in, any material respect, the requirements:

  2. to keep accounting records in accordance with section 130 of the Charities Act; and

  3. to prepare accounts which accord with the accounting records and comply with the accounting

  4. requirements of the Charities Act

have not been met; or

  1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Signed:

Date:

Name: Mrs Bonnie Connolly Relevant professional ACA qualification(s) or body (if any):ACA

Address: Arubus Accountants The Old Smithy Stockton's Courtyard, Overbury, Gloucestershire, GL20 7NT