**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**
- 1) Considered to be a long term investment with time horizon of 7-10 years.
- 2) Capital preservation as a minimum requirement but preferably with growth around inflation rate
- 3) Main driver is income in the range of 3-5% per annum on capital base of 1.1 mio.
- 4) Diversified portfolio both in terms of sector (mainly defensive stable equities),
and geography (some exposure to Far East for its growth potential)
with less exposure to US. Liquidity remains relevant so no alternative investments.
- 5) Simplicity of distributions for accounting purposes (pooled funds).
- 6) Fund management type- some index tracking and passive management.
Too much emphasis on active management can lead to higher costs
and complexity of transactions. Avoid non-sustainable non-ethical investments.
- 7) Charges should be no more than 1%.
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:
- . select suitable accounting policies and then apply them consistently;
- . make judgements and estimates that are reasonable and prudent;
- . state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements, and;
- . prepare the financial statements on a going concern basis unless
- it is inappropriate to presume that the charities will continue
- in operational existence.
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:
- examine the accounts under section 145 of the Charities Act,
- to follow the procedures laid down in the general Directions given by the Charity Commission (under
- section 145(5)(b) of the Charities Act, and
- to state whether particular matters have come to my attention.
## **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:
- to keep accounting records in accordance with section 130 of the Charities Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting
- requirements of the Charities Act
have not been met; or
2. 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