Clara E Burgess Charity
Trustee’s Report
and Financial Statements
for the year ended 20 October 2025
Registered Charity Number 1072546
FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 OCTOBER 2025
CLARA E BURGESS CHARITY
INDEX
| Page | |
|---|---|
| Charity information | 1 |
| Report of the trustee | 2 |
| Independent auditor’s report | 5 |
| Statement of financial activities | 8 |
| Balance sheet | 9 |
| Statement of cash flows | 10 |
| Accounting policies | 11 |
| Notes to the financial statements | 13 |
CLARA E BURGESS CHARITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 OCTOBER 2025
CHARITY INFORMATION
Trustee
Ludlow Trust Company Limited, corporate trustee. The directors of the corporate trustee, company no. 12492064, during the year under review and to the date of approval:
Gary St John Collins (resigned 31 March 2026) Walter Duncan Coxon Ali Reza Sarikhani Ziba Christina Sakine Sarikhani Christopher Ian Thurlow Matthew John Wickers Alexander Edward Mulroe (appointed 1 April 2026) John Stephen Dennis (resigned 25 Oct 2024)
Principal office
Ludlow Trust Company Limited 1[st] Floor Tower Wharf Cheese Lane Bristol BS2 0JJ
Registered charity number
1072546
Independent Auditor
Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY
Investment managers and bankers
The Royal Bank of Scotland plc Trinity Quay 2 Avon Street Bristol BS2 0PT
Page 1
CLARA E BURGESS CHARITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 OCTOBER 2025
REPORT OF THE TRUSTEE
The trustee has pleasure in presenting their annual report for the purposes of the Charities Act 2011, together with the accounts for the year ended 20 October 2025. The trustee has adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.
STRUCTURE GOVERNANCE AND MANAGEMENT
The charity was formed under the terms of the Will dated 6 November 1987 of Douglas Burgess of 21 Newton Street, Manchester who died on 20 October 1997. By his Will Mr Burgess authorised the trustee to retain his residuary estate upon trust as to income and capital for such charitable purposes as shall benefit children as the trustee shall in its absolute discretion think fit and to constitute a new charitable trust to be called “Clara E Burgess Charity” for these charitable purposes. This trust was created by a declaration of trust dated 6 October 1998.
The trust is controlled by the trustee.
The trustee has assessed the major risks to which the charity is exposed. The trustee believes that by ensuring controls exist over key financial systems incorporating The Royal Bank of Scotland’s systems and controls it has established effective systems to mitigate those risks.
The new trustees are appointed by the existing trustee. Policies and procedures are in place to ensure the new trustees receive induction and training, including briefing by the existing trustee on the history of the charity, day-to-day management, trustee responsibilities, current objectives, and future plans.
OBJECTIVES AND ACTIVITIES
The charity’s income shall be and its capital may be applied for:
“The relief of children and young persons, in particular by the provision of facilities and assistance to enhance the education, health and physical well-being of such children, in order that their conditions of life may be improved, but having particular regard to children under the age of 10 years and those who have lost either one or both parents.”
The charity pursues these objects by making grants to charitable organisations. During the year under review the charity made grants totalling £553,724 (2024: £572,437) in furtherance of its objects.
In determining how the charity should pursue its objects, the trustee has had regard to the Charity Commission's guidance on public benefit.
The trustee continues to make grants in support of charitable organisations in furtherance of the charity’s purpose for the public benefit.
ACHIEVEMENTS, PERFORMANCE AND FINANCIAL REVIEW
Incoming resources for the year amounted to £751,097 (2024: £382,843) comprising of income from investments of £254,251 (2024: £332,030) and transfers from endowment funds of £496,846 (2024: £50,813). Charitable donations, in the form of grants, made during the year amounted to £553,724 (2024: £572,437).
After the payment of expenses there was a net outflow of resources for the year of £396,816 (2024 outflow: £334,648) before gains and losses on investments. Gains on investments amounted to £862,288 (2024 gains: £1,653,262) resulting in a net increase in funds of £465,472 (2024: £1,318,614) and total funds carried forward at the year end of £12,273,563 (2024: £11,808,091).
The charity’s investments are managed by The Royal Bank of Scotland plc with the target of generating income and growing the investments. The trustee continually monitors the investment policy and performance against the objectives and are content with the performance of investments during the year under review.
Page 2
CLARA E BURGESS CHARITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 OCTOBER 2025
REPORT OF THE TRUSTEE
Reserves policy
Given the availability of the expendable endowment fund the trustee does not consider that the charity needs to maintain any significant free reserves although they recognise that such reserves will arise from time to time. As at 20 October 2025 free reserves were £43,004 (2024 deficit: £111,418).
Investment policy
Under the terms of the Declaration of Trust the trustee is given an unrestricted power of investing or varying the investments as if the trustee is absolutely and beneficially entitled to them. The trustee uses this power to manage the investments with an investment policy aimed at producing a balanced portfolio which will generate a reasonable level of income to enable the trustee to make donations in furtherance of the charity’s objects.
Grant-making policy
Applications for help from the charity are made by applying in writing to the trustee. The applications are considered at regular intervals during meetings.
PLANS FOR FUTURE PERIODS
The trustee intends to continue the charity’s grant-making activity.
STATEMENT OF TRUSTEE’S RESPONSIBILITIES
The trustee is responsible for preparing the Trustee Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the trustee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustee is required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP 2019 (FRS 102);
-
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;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustee is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities
Page 3
CLARA E BURGESS CHARITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 OCTOBER 2025
REPORT OF THE TRUSTEE
APPOINTMENT OF AUDITOR
The charity exceeded the audit threshold for the year under review and appointed Blue Spire Limited as auditor to the charity. Blue Spire Limited have expressed their willingness to continue as auditor to the charity for the coming year.
Approved by the trustee and signed on its behalf.
Chris Thurlow For and on behalf of the Ludlow Trust Company Limited
Date 05 June 2026
Page 4
CLARA E BURGESS CHARITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 OCTOBER 2025
INDEPENDENT AUDITOR’S REPORT
Independent Auditor’s Report to the Trustee of Clara E Burgess Charity
Opinion
We have audited the financial statements of Clara E Burgess Charity (the ‘charity’) for the year ended 20 October 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
-
In our opinion the financial statements:
-
give a true and fair view of the state of the charity’s affairs as at 20 October 2025, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustee’s use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustee with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the trustee’s annual report, other than the financial statements and our auditor’s report thereon. The trustee is responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard
Page 5
CLARA E BURGESS CHARITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 OCTOBER 2025
INDEPENDENT AUDITOR’S REPORT
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
-
the information given in the trustee’s report is inconsistent in any material respect with the financial statements; or
-
sufficient accounting records have not been kept; or
-
the financial statements are not in agreement with the accounting records; or
-
we have not received all the information and explanations we require for our audit.
Responsibilities of trustee
As explained more fully in the trustee’s responsibilities statement, the trustee is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustee determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustee is responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustee either intends to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
Based on our understanding of the Charity and the sector, we identified the principal laws and regulations that directly affect the financial statements to be the Charities Act and Trustee Act. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.
In addition, the Charity is subject to other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. As an investment and settlor funded grantmaker there is a limitation to areas most likely to have such an effect. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustee and other management and inspection of regulatory and legal correspondence if any.
The procedures to detect irregularities are set out below:
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
Page 6
FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 OCTOBER 2025
CLARA E BURGESS CHARITY
INDEPENDENT AUDITOR’S REPORT
- A further description of our responsibilities is available on the FRC's website at: https://www.frc.org.uk/auditors/audit assurance/auditor-s-responsibilities-for-the-audit-of-the-fi/description-of-the-auditor%E2%80%99s-responsibilitiesfor. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the charity’s trustee, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustee those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustee as a body, for our audit work, for this report, or for the opinions we have formed.
Blue Spire Limited, Statutory Auditor Date 08 June 2026
Cawley Priory South Pallant Chichester West Sussex PO19 1SY
Blue Spire Limited is eligible for appointment as auditor of the charity by virtue its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006
Page 7
CLARA E BURGESS CHARITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 OCTOBER 2025
STATEMENT OF FINANCIAL ACTIVITIES
| Note INCOME AND ENDOWMENTS FROM: Investments 1 Total EXPENDITURE ON: Raising funds 2 Charitable activities 3 Total resources expended Gains / (losses) on investments 8 Realised Unrealised Net Incoming Resources Transfers between funds 11 Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward 11 Total funds carried forward 11 |
Unrestricted Funds £ 254,251 254,251 - 596,675 596,675 - - - (342,424) 496,846 154,422 (111,418) 43,004 |
Expendable Endowment Funds £ - - 54,392 - 54,392 45,967 816,321 862,288 807,896 (496,846) 311,050 11,919,509 12,230,559 |
2025 Total Funds £ 254,251 254,251 54,392 596,675 651,067 45,967 816,321 862,288 465,472 - 465,472 11,808,091 12,273,563 |
2024 Total Funds £ 332,030 |
|---|---|---|---|---|
| 332,030 | ||||
| 51,953 614,725 |
||||
| 666,678 | ||||
| 2,650,576 (997,314) |
||||
| 1,653,262 | ||||
| 1,318,614 - |
||||
| 1,318,614 10,489,477 |
||||
| 11,808,091 |
The charity has no recognised gains or losses other than those dealt with in the statement of financial activities.
Page 8
CLARA E BURGESS CHARITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 OCTOBER 2025
BALANCE SHEET AS AT 20 OCTOBER 2025
| Note FIXED ASSETS Listed Investments 8 Total fixed assets CURRENT ASSETS Cash at hand and in bank Total current assets CURRENT LIABILITIES Creditors: amounts falling due within one year 9 Net current assets/(liabilities) Net assets THE FUNDS OF THE CHARITY Expendable endowment funds 11 Unrestricted funds 11 Total charity funds |
£ £ 12,062,275 12,062,275 221,768 221,768 10,480 211,288 12,273,563 12,230,559 43,004 12,273,563 2025 |
£ £ 11,478,343 11,478,343 565,987 565,987 236,239 329,748 11,808,091 11,919,509 (111,418) 11,808,091 2024 |
£ £ 11,478,343 11,478,343 565,987 565,987 236,239 329,748 11,808,091 11,919,509 (111,418) 11,808,091 2024 |
|---|---|---|---|
| 11,808,091 | |||
| 11,919,509 (111,418) |
|||
| 11,808,091 |
The notes on pages 13 to 17 form part of these financial statements.
Approved by the trustee and signed on its behalf.
Chris Thurlow For and on behalf of the Ludlow Trust Company Limited Trustee
05 June 2026 Date
Page 9
FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 OCTOBER 2025
CLARA E BURGESS CHARITY
STATEMENT OF CASH FLOWS
| £ £ Net cash flow from operating activities (see below) (876,826) Cash flow from investing activities Investment income 254,251 Payments to acquire investments (4,078,726) Receipts on sale of investments 4,357,082 Net cash flow from investing activities 532,607 Net increase/(decrease) in cash and cash equivalents (344,219) Cash and cash equivalents at 21 October 565,987 Cash and cash equivalents at 20 October 221,768 Cash and cash equivalents consist of: Cash at bank and in hand 221,768 Cash and cash equivalents at 20 October 221,768 Reconciliation of net income to net cash flow from operating activities £ £ Net income (350,849) Adjusted for: Investment income (254,251) Net (gains)/losses on investments (45,967) Increase/(decrease) in creditors (225,759) (525,977) (876,826) 2025 2025 |
£ £ (452,309) 332,030 (9,956,867) 10,423,381 798,544 346,235 219,752 565,987 565,987 565,987 £ £ 2,315,928 (332,030) (2,650,576) 214,369 (2,768,237) (452,309) 2024 2024 |
£ £ (452,309) 332,030 (9,956,867) 10,423,381 798,544 346,235 219,752 565,987 565,987 565,987 £ £ 2,315,928 (332,030) (2,650,576) 214,369 (2,768,237) (452,309) 2024 2024 |
|---|---|---|
| (452,309) |
Page 10
CLARA E BURGESS CHARITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 OCTOBER 2025
ACCOUNTING POLICIES
General information, scope and basis of the financial statements
Clara E Burgess Charity is an unincorporated charity constituted under a will trust. The address of the principal office is given in the reference and administrative details section and the nature of the charity’s operations and principal activities are given in the trustees' report.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Incoming resources
All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
Investment income is earned through holding assets for investment purposes such as shares. It includes dividends and interest. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend is recognised as the charity’s right to receive payment is established.
Resources expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following expenditure headings:
● Raising funds; these include investment management fees charged by the charity's investment managers
● Charitable activities; these include grants to third parties and the costs of administering the charity inclusive of governance costs
Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.
Support and governance costs are those that assist the work of the charity but do not directly represent charitable activities. They are incurred directly in support of expenditure on the objects of the charity. Governance costs are those incurred in the governance of the charity and primarily associated with the constitution and statutory requirements.
VAT
The charity is not registered for VAT and is unable to recover VAT incurred. On this basis costs are recorded inclusive of VAT within the SOFA.
Taxation
The charity is considered to pass the tests set out in sections 521 to 536 Income Tax Act 2007 (ITA 2007), as such no income tax is payable on the charity's activities.
Page 11
CLARA E BURGESS CHARITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 OCTOBER 2025
ACCOUNTING POLICIES
Investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
Where investments are denominated in currencies other than Sterling, transactions are translated at the rate prevailing at the date of the transaction and year end values are calculated using the exchange rate prevailing at the year end.
Investments held in foreign currencies
Where investment assets are held in a foreign currency they are translated at the prevailing rate at the balance sheet date and any gain/loss on exchange rate movements is included in the statement of financial activities in the other recognised gains and losses section.
Debtors receivable and creditors payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In addition it includes cash at bank and in hand and cash balances within the investment portfolio available for investment transaction purposes.
Fund accounting
Unrestricted income funds are available for use at the discretion of the trustee in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Expendable endowment funds are those which are required to be invested to produce income but which may be transferred to unrestricted funds at the discretion of the trustee in order that they may be expended in furtherance of the charity’s objectives
Going concern
The financial statements have been prepared on a going concern basis as the trustee believes that no material uncertainties exist. The trustee has considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
Page 12
FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 OCTOBER 2025
CLARA E BURGESS CHARITY
NOTES TO THE FINANCIAL STATEMENTS
1. Income from investments
| Dividend income and interest received 2. Expenditure on raising funds Investment management fees 3. Expenditure on charitable activities Grants awarded (see note 5) Administration fees Governance costs (see note 4) |
Unrestricted Funds £ 254,251 254,251 Unrestricted Funds £ - - Unrestricted Funds £ 553,724 16,093 26,858 596,675 |
Endowment Funds £ - - Endowment Funds £ 54,392 54,392 Endowment Funds £ - - - - |
2025 Total Funds £ 254,251 254,251 2025 Total Funds £ 54,392 54,392 2025 Total Funds £ 553,724 16,093 26,858 596,675 |
Unrestricted Funds £ 332,030 332,030 Unrestricted Funds £ - - Unrestricted Funds £ 572,437 16,092 26,196 614,725 |
Endowment Funds £ - - Endowment Funds £ 51,953 51,953 Endowment Funds £ - - - - |
2024 Total Funds £ 332,030 |
|---|---|---|---|---|---|---|
| 332,030 | ||||||
| 2024 Total Funds £ 51,953 |
||||||
| 51,953 | ||||||
| 2024 Total Funds £ 572,437 16,092 26,196 |
||||||
| 614,725 |
4. Governance costs
| Administration fees Auditor's remuneration |
Unrestricted Funds £ 21,458 5,400 26,858 |
Endowment Funds £ - - - |
2025 Total Funds £ 21,458 5,400 26,858 |
Unrestricted Funds £ 21,456 4,740 26,196 |
Endowment Funds £ - - - |
2024 Total Funds £ 21,456 4,740 |
|---|---|---|---|---|---|---|
| 26,196 |
Page 13
CLARA E BURGESS CHARITY
FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 OCTOBER 2025
NOTES TO THE FINANCIAL STATEMENTS
5. Grants awarded - to institutions for the relief of young people (England and Wales and one grant unless otherwise indicated)
| Country no. Baby Bank Network BookTrust Chefs in Schools Child Bereavement UK 2 Little Village Magic Breakfast 2 Princess Alice Hospice Scotty's Little Soldiers The Rotherham Hospice Trust 6. Auditors' remuneration Unrestricted Endowment Funds Funds £ £ Auditor's remuneration - audit 5,400 - |
2025 £ Country no. 2,900 84,241 - 158,774 - 149,035 2 - 84,241 74,533 553,724 2025 Total Unrestricted Endowment Funds Funds Funds £ £ £ 5,400 4,740 - |
2024 £ - 40,722 50,000 218,753 76,518 181,444 5,000 - - |
|---|---|---|
| 572,437 | ||
| 2024 Total Funds £ 4,740 |
7. Related party transactions
During the year under review Ludlow Trust Company Limited was the sole trustee for the charity and charged fees for the provision of administrative services amounting to £37,551 (2024: £37,548). At the balance sheet date £2,083 (2024: £2,017) is accrued and payable to the Ludlow Trust Company Limited. These fees are authorised under sections 2.3.1 and 4.2 of the trust deed.
The charity has no employees, all administation being carried out by the trustee. Other than the fees noted above no remuneration was paid or expenses reimbursed to any trustee or other related party.
8. Fixed asset investments - managed funds
| Market value brought forward Additions at cost Disposals at carrying value Unrealised gains/(losses) on investments Market value carried forward Gains/(losses) on investment assets Unrealised gains/(losses) Realised gains/(losses) Investments quoted on a recognised stock exchange or valued by reference to such investments |
2025 £ 11,478,343 4,078,726 (4,311,115) 816,321 12,062,275 816,321 45,967 862,288 12,062,275 12,062,275 |
2024 £ 10,291,595 9,956,867 (7,772,805) (997,314) |
|---|---|---|
| 11,478,343 | ||
| (997,314) 2,650,576 |
||
| 1,653,262 | ||
| 11,478,343 | ||
| 11,478,343 |
Page 14
FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 OCTOBER 2025
CLARA E BURGESS CHARITY
NOTES TO THE FINANCIAL STATEMENTS
9. Creditors: amounts falling due within one year
| Accruals - Royal Bank of Scotland fees Accruals - Ludlow Trust Company Limited fees Accruals - Auditor's remuneration Accruals - Grants |
Unrestricted Funds £ - 2,083 5,400 - 7,483 |
Endowment Funds £ 2,997 - - - 2,997 |
2025 Total Funds £ 2,997 2,083 5,400 - 10,480 |
2024 Total Funds £ 2,964 2,017 4,740 226,518 |
|---|---|---|---|---|
| 236,239 |
10. Analysis of net assets between funds
| Fixed assets Current assets Current liabilities |
Unrestricted Funds £ - 50,487 (7,483) 43,004 |
Endowment Funds £ 12,062,275 171,281 (2,997) 12,230,559 |
2025 Total Funds £ 12,062,275 221,768 (10,480) 12,273,563 |
Unrestricted Funds £ - 121,857 (233,275) (111,418) |
Endowment Funds £ 11,478,343 444,130 (2,964) 11,919,509 |
2024 Total Funds £ 11,478,343 565,987 (236,239) |
|---|---|---|---|---|---|---|
| 11,808,091 |
11. Analysis of net movement in funds
| Endowment funds Unrestricted funds Total Funds |
Year ended 20 October 2025 | Year ended 20 October 2025 | ||||
|---|---|---|---|---|---|---|
| Total funds brought forward £ 11,919,509 (111,418) 11,808,091 |
Total incoming resources £ - 254,251 254,251 |
Total resources expended £ (54,392) (596,675) (651,067) |
Gain/ (losses) on investments £ 862,288 - 862,288 |
Transfers between funds £ (496,846) 496,846 - |
Total funds carried forward £ 12,230,559 43,004 |
|
| 12,273,563 |
The transfer from the expendable endowment to the unrestricted fund was to support expenditure from the unrestricted funds in furtherance of the charity's objects and to pay fees as authorised by section 2.3 of the trust deed.
| Endowment funds Unrestricted funds Total Funds |
Year ended 20 October 2024 | Year ended 20 October 2024 | ||||
|---|---|---|---|---|---|---|
| Total funds brought forward £ 10,369,013 120,464 10,489,477 |
Total incoming resources £ - 332,030 332,030 |
Total resources expended £ (51,953) (614,725) (666,678) |
Gain/ (losses) on investments £ 1,653,262 - 1,653,262 |
Transfers between funds £ (50,813) 50,813 - |
Total funds carried forward £ 11,919,509 (111,418) |
|
| 11,808,091 |
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 OCTOBER 2025
CLARA E BURGESS CHARITY
NOTES TO THE FINANCIAL STATEMENTS
| 12. Comparative statement of income and expenditure Note Net Incoming Resources Investments 1 Total EXPENDITURE ON: Raising funds 2 Charitable activities 3 Total resources expended Gains / (losses) on investments 8 Realised Unrealised Net income/(expenditure) Transfers between funds Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward 11 Total funds carried forward 11 |
Unrestricted Funds £ 332,030 332,030 - 614,725 614,725 - - - (282,695) 50,813 (231,882) 120,464 (111,418) |
Expendable Endowment Funds £ - - 51,953 - 51,953 2,650,576 (997,314) 1,653,262 1,601,309 (50,813) 1,550,496 10,369,013 11,919,509 |
2024 Total Funds £ 332,030 |
|---|---|---|---|
| 332,030 | |||
| 51,953 614,725 |
|||
| 666,678 | |||
| 2,650,576 (997,314) |
|||
| 1,653,262 | |||
| 1,318,614 - |
|||
| 1,318,614 10,489,477 |
|||
| 11,808,091 |
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CLARA E BURGESS CHARITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 OCTOBER 2025
NOTES TO THE FINANCIAL STATEMENTS
13. Financial instruments
The carrying amounts of the charity's financial instruments are as follows:
| 13. Financial instruments The carrying amounts of the charity's financial instruments are as follows: |
|
|---|---|
| 2025 Total Funds £ Financial assets Measured at fair value through net income/(expenditure): Fixed asset investments 12,062,275 12,062,275 The income, expense, net gains and net losses attributable to the charity's financial instruments are summarised as follows: 2025 Total Funds £ Income and expense Financial assets measured at fair value through net income/(expenditure) Investment income 237,159 Investment management fees (54,392) 182,767 Net gains and losses (including changes In fair value) Financial assets measured at fair value through net income/(expenditure) Realised gains/(losses) on investments 45,967 Unrealised gains/(losses) on investments 816,321 862,288 |
2024 Total Funds £ 11,478,343 |
| 11,478,343 | |
| 2024 Total Funds £ 308,403 (51,953) |
|
| 256,450 | |
| 2,650,576 (997,314) |
|
| 1,653,262 |
Fixed asset investments are held at fair value with valuations obtained using last traded or closing mid/bid market prices as available.
Page 17