THE MARLBOROUGH MOUND TRUST FllYAJYcIL STATEMENTS FOR THE YEAR EIYDED S APRLL 2024 Crowe UK Registered Auditors Charity NuML. 263157
MARLBOROUGH MOUND TRUST REFERENCE AND ADMINISTRATIVE DETAllS The Trustees are pleased to prcsent thcir report together with the fmancial statements of the charty for the year ended 5 April 2024. The fanCIal stateents bave been pr¢pgred in accordance with the Statement of Recommended Practice: Accounting and Reporting by chLtieS applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in tbe UK and Republic of Ireland (FRS 102) (second edition effective l January 2019) - (Charities SORP (FRS102), the Finallcial Reporting Standard applÉcable in the UK and Republic of Ireland (FRS 102), the Charities Act 201 I, and the Charity's governing dUment. The Trnst is registered with the Charity Commission number 1081520. TRUSTEES The Trustees who sced during the year were: Mr C R Macfadyen (Chairman) Dr R W Barber FSA FRSL Mrs J Jordan Mrs I, Moclwym-Hughe5 Mrs L Owen Mr M Pitts Mrs Mclanie Pomeroy (appointed I I September 2023) PROFESSIONAL ADVISERS AND KEY PERSONNEL Address: Marlborougb Mound Trust Marlborougb College Wiltshire SN8 IPA Banker5: Lloyds Commercial Ley Court Barnett Way Gloucester GIA 7RT Investment Advisers: Rathbones 8 Finsbury Circus London EC2M 7AZ Solicitors: Charles Russell Solicitors 8-10 New Fetter Lane London EC4A IRS Auditors.. Crowe U.K 4th Floor St Jame5 House St James Square Cheltenham GL50 3PR
MARLBOROUGH MOUND TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2024 STRUCTURE, GOVERNANCE AiYD MANAGEMENT OrEalli5ation The Trustees detennine the general EK)licy of the TnL Under the t¢rn]s of the charitable settlement establishing the Trus4 the number of Trustees shall be not less thall three nor more thajj seven. The origina] Trustees were appointed by the Settlor (1¢ Elstob) under the tern]s of the charitable settlement dated 23 January 2000, which established the Tnt and in addition to named indivithials, included the Master (for the time being) of Matlborough College and the ChainnaD (for the time being) of the Council of Marlbomugh College. The TnteeS are the key management personnel of the Trust and Do Tne receive4 or was entitled to receive, any remuneration in the cunent or prior year. The power of appointing new Trnstees is vested in the ¢xistiD8 Tn. When new TneeS are appointed, careful consideration will b¢ given to their induction anit if appropriate, their training needs. R2sk Review The major risks to which the Trust is exposed. as identified by the Trustees, have beeD reviewed. This is an ongoing process and the Trustees will carry out an annual review. The majoT risk identified is the pcrforniance of the Charity's investments as investment values can fluctuate. However, it is not seen to be a risk in the long-tern) but the TteeS regularly monitor the situation and discuss the position with the Trust's investment managers as necessary. Polley It is a polACy of the TNst that funds raised may be expended for such charitable pwposes in fiutherance of the objects of the Thist as the Trustees in their discretion decide. Publle Benefit In fiutherance of its object to educate the public about the archaeological and historical significance of the Mound the Trustees had established an annual Mound Trust lecture. the fwst of whicb was given in October 2007, whicb ran until 2021. The Trustees have also published a leaflet on The Marlborough Mound and the Mound TrusL which forn]s part of the narrative about the history of the Mound on Marlborougb College's website. A film 15 available that gives an account of the history and sigllificance of the Mound. Certain arcbaeologirAI artefacts have been made available to the Devizes Museum. Another successful guided tour of the Moun(L including the Grotto, for more than 128-interested public (2023: 100) was also undertaken, known as the Mound Day. which has become an aDnual eveDL When combined with the College's educational access and the number of local sch(M)Is who have visited, the number of people who climbed the Mound during the year was 577 (2023: 670). In reviewing the cbarity's aims, and putting them into actiOD. the Thte¢S have tsken account of the Charity Commission's guidance on public benefit ORIECTS The objects of the Tst are set out in a Tnt Deed dated 23 January 2000. The main objectives of the Tht are to: a) restore, conserve. preserve and maintain the Mound at Marlborough College: and b) educate the public about the archaeological and historical significance and merits of the Mound at Marlborough College. OBJECTIVFS, ACHIEVEMENfs AND PERFORMANCE FOR THE YEAR The major projects tbat the Marlborough Mound Tn]st¢¢s implemented during the year (that thc Trust is working on in conjunction with Historic England) included: a) ongoing stabilisation monitoring of the MouD(L b) continued liaison with the College and discussion with students, in line with the ethicational aspect of the Mound c) an annual {fiTe) guided tour to the interested public that was once again so popular there w&s a waRting list. d) the ongoing close wotq(ing relationship with the College for annual mainteaance incEuding the hedge planted along the path:
MARLBOROUGH MOUND TRiJST REPORT OF THE TRUSTEES (continued) FOR THE YEAR EIYDED 5 APRIL 2024 e) the fjnal ph&se of the Grotto restoration has now been completed. fj development of the Mound Inforniation Centre within the Memorial Hall Pavilio which was vacant: g) the publication and launch of a book by Richard Barber. wbich looks at the history of the Mound. h) feasibility study for the reinststement of parts of the Mound in areas of previous building developmen¢ and i) a new website for the Mound Tntst delailing the history ofthe Mound with lots of images of the site over the centuries. FINANCIAL REVIEW Income from investments and bank interest totalled £172,774 (2023., £16,815) and investment gains of £28,686 (2023: Ioss £66,528). Total expenditure amounted to £66,854 (2023: £78.382). This was expended mainly on tree works and landscaping, but also on professional fees and management of the charRty. Overall. the Thist has a Det gain of £134,606 (2023: net loss of £128,095). Investment Powers These are governed by the Tht Deed whid) pern)its the Fund to be invested as th¢ Trust¢e$ in their discretion think fit. Inveslmenl Policy The Tntst Anvestn)ent poli¢y is, at leasL to maintsin the capital value of the Tr[ fimd io real tenns while generating a reasonable income. Reseryes Polity The Trustees will seek to preserve the capitsl value of the Trust Fund and to devote the incorne to the purposes for which the Trust was established. Under the ternis of the charitable settlement the TnteeS are empowered to release the whole or part of the capital of the Trust Fund to further the objccts of the Trust. No capital was released during the ye, following a release in the prior year in relation to the Conservation Management PlaD. Subject to further discussions, further capital may be released in future years to further meet the objectives of the Plan. The TrLL8t has restricted reserves of £1,003,961 (2023: £869,355), with movements in the restricted income aDd Testricted capital fun(Ls as noted per note 5. RESOURCES The fimds raised are being applied towards the restoration and on-going mainteDan¢e of the Mound as well as preserying its history through the fortbcoming Mound Inforniation Centre and the maintenance and updates to the Mound Thjst website. FUTURE PLANS The Tn]stees have drawn uppapers to discuss further pro8rammes ofworK including the Maeting of The Mound, ongoing tre£ and maintenance worL further archaeological explorations of the castle wall and improving the sigDage around tbe area. The Trnstees are also keen to explore the thture use of the Mound by the College and further guided tours for the interested public around the site. In conjunction with this. there is the completion of the Mound tnforniation Centre on site dedicated to the Moulld and its sumiundings includlng the original castle and the future reinstatement of parts of the Mound in areas of previous building dev¢lopmetrt. STATEMENT OF TRUSTEES, RESPONSIBILITIES The TTUStees are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with appIlble law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounttng Practice). The law applicable to charities in England and Wales requires the Tntr¢s of the charity to prepare financial statements for each fmancialyear which give a true and fair view of the state of affairs of the charity and of the income alld expenditure of the chlty for that period. In preparing those financial Statemen the trustees are required to: select suitable awounting policies and then apply them consisfrntly; observe the principles in the Charities SORP.
MARLBOROUGH MOUND TRUST REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED S APRIL 2024 make judgements and estimates that are r&qsonable and pent. state whether applicable accounting standards have been followeQ Subject to any nla1 departures disclosed and explained in the fuwicial ststements; prepare the fuwicial statements on the going concern basis unless it is inappropriate to presume thatthis basis applies. The Trustees are responsible for keeping proper accounting records which disclose with reasonable aocurdcy at any time the fanCIal position of the Charity and to enable them to ensure that the financial statements coniply with the Charities Act 201 I, the Charity (Accounts and Reports) Regulations 2008 and with the Trust Deed dated 23 January 2000, They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and d¢tection of fraud and other irregularities. AUDITORS A resolution to appoint Crow¢ UK will be submitted to the Annual General Meeting. By Order of the Board Marlborough College Marlborougb Wiltshire SN8 IPA C R Macfadyen Chainnan 16 July 2025
INDEPEM)ENT AUDITOR'S REPORT TO THK TRUSTEES OF MARLBOROUGH MOUND TRUST Opinion We have audited tbe fmancial statemellts of The Marlborougb Mound Tnt for theyear ended 5 April 2024 which comprise the Statement of Financial Activitie5, the Balance Sheet and notes to the fmancial statements, including significant accounting policies. The fmancial reporting framework that has been applied in their preparation is applicable law and Unitsd Kingdom Accounting Standards, including Financial Reporting Stsndard 102 The Financial Reporting StaDdard applicable in the UK and Republic of Ireland (United Kingdom Generdlly Accepted Accounting Practirx). In our opinion the firlancial statements: give a true and fair view of the state of the charlty's affairs as at 5 April 2024 and of its incoming resour¢¢8 and application of resources, including its income and expenditure for the year then ended; haye been properly prepared in accordÈnce with United Kingdom Generally Accepted Accounting Practice; and have been prep2r¢d in accordance with the requirements of the Charities Act 2011. Basis for opinlon We conducted our audit in accordance with International Standards on Auditing (UK) (JSA5 (UK)) and applkcable law, Our responsibilities under those standards are fillther described in the Audilor's responsibilities for the audit of the fmancial statements section of our rep)rt. We are independent of the charity ID accordance with the ethical requirements that are relevant to our audit of the fllwicial statements in the UK, including the FRC'S Ethical StsDdariL and we have fi]Ifdled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence wc bavc obtained is sufficient and appropriate to provid¢ a basis for our opinion. Conclusions relatlng to going coneern In auditing the fmancial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the fancial statements is appropriate. Based on the work we have perforni¢4 we bave not identified any material uncertaiDties relating to events or conditions thaL individually or collectively, may cast significamt doubt on the cbarity's ability to wntinue as a going concern for a period of at least twelve months from when the financial ststements are authorised for issue. Our responsibillties and the r¢snsIbl11ttes of the trustees with respect to going ¢oncern are described in the relevant sections of this reporL Other information The trustees are responsible for the other information contained within the annual rq)ort. The other inforniation comprises the inforn]atTron included in the aUal rq)orL other than the fmancial statements and our auditor's report thereon. Our opinion on thc F8¢1&1 statements do not cover the other information and we do not express any form of assuTanc¢ conclusion tbercon. Our responsibility is to read the other Anforniation and, in doing so, consider whether the other inforn]atioD is materially inconsistent with the financial statemenls or our knowledge obtained in the audit or otherwise app¢ars to be materially misslated. 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 fmancial statements themselves. If, based on the work we have performed, we conclude that tbere is a material misstatemeDt of this other 1nforn1atio we are required to report that fact. We have nothing to report in this reg{L Matters on which Ive are required to report by ex¢eptlOD 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 r¢port to you if, in our opinion: the itiforniation given in the financial statements is inconsistent in any material respect with the kntees. report. suificient accounting records have not been kepl or the fmancial statements are not in agreement with the accounting record5 and return5; or we have not Teceived all the inforjnation and explanatiffls we require for our audiL
XNDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF MARLBOROUGH MOUIW TRUST Re5ponsibilltles ol trustees As explained more fulty in the trustees. responsil)ilities statement set out on page 3, the trustees are responsible for the preparation of the fmancial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees deternjine is necessary to enable the preparaliou of fuw]cial statements that are free from material misstatement, whether due to fraud or em)r. In preparing the financial ststements, the trustees are responsible for as8¢ssiDg the charity's ability to continue as a going Coll disclosing, as applicable, matters related to going COUrn and using the going CODcern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations. or hav¢ no realistic alternative but to do so. Auditor's responsibilities for the Audit of the fmancisl ststements We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect fhereunder. Our objectives are to obtsin reasonable assurance about whether the financial statements as a whole are from material misstatement, whether due to fraud or error, and to issue an auditor's reportthat includes our opinion. Reasonable assurance is a high Icvel of assurance, but is not a guarantse that an audit conducted in accordance with ISAS (UK) will always detect a matcrial misstatement when it exists. Misstatements can arise from fraud or error and arc consider¢d material if, individually or in the 4g8Tegate, they could reasonabty be expected to influence the economic decisions of users taken on the basis of these fancial statements. trregularities, including frauiL are iDStances of non-complianrA with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatemenls in respect of IegulaTIties, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is d¢tsiEed below. A further descriptlOD of ow responsibilities for the audit of the fmallcial statements is located on the Financial Reporting Council's webslte at: www.fro.org.uklauditorsresponsibilities. This description forn]s part of our auditor's report. Extent to whicb the audit considered capable of detecting irregularilles, Includlng fraud Irregularities, includillg fraud, are instances of non-compliance with laws and regulation5. We identified and assessed the risks of material mASStatement of the fu)ancial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and perfornied audit procedures responsive to these risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our OPiDiOn. We obtsined an understanding of the l¢gal alld regulatory frameworks within wbich the charity operates, focusing on laws and regulations that have a direct effect on the deierniination of material arnounts and disclosures in the fjnanci statements.. The laws and regulations we considered in this context were the Charities Act 201 I, logether with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related fmancial statenlent items. In addition. we Considered provisions of other laws and regulatioLs that do not have a direct effect on the fanCIal statements but compliance with whlch migbtbe fimdamental to the charity's ability to operate or to avoid amaterial penalty. We also considered the opportunities and incentives that may exist within the cRlty for frau(L Auditing standards limit the required audit procethwes to identify non-compliance with tbese law5 and regulations to enquiry of Trustres and other mauagement and inspection of regulatory and legal Correspondence, if any. We identified the greatest risk of material impact on the fmancial statements from iegUlar1ties, including fraud, to be within tbe override of controls by managemenL Our audit procedures to respond to these risks include enquiries of management and the Trustees about their own identification and a5se5sment of risks of iryegularities, sample testing on the posting of journals, reviewing accounting estimate5 for biases, reviewing aDy Tegulatory correspondence with the Charity Commission and reading minutes of meetings with those chged with governance, Owing to the inherent limktations of an audiL there is an UDavoidable risk that we may not have detected some material misstatements in the fmancial statements, even thou1 we have property planned and peTfoTmaDce our audit in accordance with auditlng standards. For example. the further removed non compliance with laws and regulations (iffegularities) is from the events and transactions reflected in the fmancial statements, tbe less likely th¢ inherently limited procedures required by audittng standards would identify IL In addition, as with any audiL there remains a higher risk of non-detection of irregularities as these may involve collusion, forgery, illlentional omissions. misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expccted to detect non-compliance with all laws and regulations.
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF MARLBOROUGH MOUND TRUST
Use of our report
This report is made solely to the charity's trustees, 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 trustees those matters we are required to state to them in au 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 trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Crowe U.K LLP Statutory Auditors Date: 22 July 2025
4[th ] Floor St James House Cheltenham GL50 3PR
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MARLBOROUCH MOUND TRUST STATEMENT OF FINANCIAL AcfiviTIFS FOR THE YEAR ENDED S APRIL 2024 Restrleted fuDds 2024 2023 Not COME Investment income and bank interest 172.774 16,815 Total income 172.774 16,815 EXPENDITURE Cost of raising funds: Investment manager fees 3,040 3,232 Charitable activities: Restoration of the Mound 63,814 75,150 Total expenditure 66,854 78,382 Net income/(expenditure) before investment gainslooss) 105,920 (61,567) Jnvestment gainsl(Ios5) 28,686 (66,528) Net movement in funds 134.606 (128,095) FuDd balances brought forward 869,355 997,450 Balance of fund carried lorward at 5 April £1,003,961 £869,355 All of the above results were derived from continuing activities. There were no other recognised gains and losses other than those ststed above. The accompanying notes form part of the fmancial statements.
MARLBOROUGH MOUND TRUST
BALANCE SHEET
AS AT 5 APRIL 2024
| 2024 | 2023 | 2023 | ||||
|---|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | ||
| FIXED ASSETS Listed investments |
3 | 628,560 | 645,987 | |||
| 628,560 | 645,987 | |||||
| CURRENT ASSETS | ||||||
| Debtors | 4 | 355,797 | 797 | 200,000 | 200,000 | |
| Cash at bank and in hand | 20,922 | 20,922 | 24,686 | 24,686 | ||
| 376,719 | 376,719 | 224,686 | 224,686 | |||
| CREDITORS: amounts falling due in | ||||||
| less than one year | ||||||
| Accruals | 1,318 | 1,318 | 1,318 | 1,318 | ||
| NET CURRENT ASSETS | 375,401 | 223,368 | ||||
| NET ASSETS | £1,003,961 | £869,355 | ||||
| CAPITAL AND RESERVES | ||||||
| Restricted funds | 5 | £1,003,961 | £869,355 |
Approved and authorised for issue by the Trustees on 16 July 2025 and signed on their behalf by:
The accompanying notes form part of the financial statements.
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MARLBOROUGH MOUND TRUST AccoNfiNG POLICIES FOR THE YEAR ENDED 5 APRIL 2024 The fmaneial statements have been pPared in accordance with Accounting and Reporting by Charities,. Statement of Recommended Practice applicable to ¢PritieS prepaTing their accounts in a¢wrdance with the Financial Reporting Standard applicable in the UK and Republic of treland (FRS 102) (second edition effective l January 2019) - (Charities SORP (FRS102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charit¢s Act 2011, The accounts {fman¢ia15tstements) have been prepared to give a 'true and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ,tn and fair view.. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporttng Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from l April 2005 which has since been withdrawn. Marlborough Mound Trnst meets the defjnition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otheTwise stated in the relevant accounting policy note(s). a) Having reviewed the funding facilities available to the cbarity together with the expected futhre cash flows, the Trustees have a rwonable expertation that charity bas adequate resources to ry)Dtinue its activities for the foreseeable future and consider that there weTC DO matcrial uncertainties over the charity's financial viability. Accordingly, they also continue to adopt the goin8 concern basis in preparing the fmancial statements. b) In the application of the charity's accounting policies, the TnteeS are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimatss and associated assumptions are ba1 on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed OD an ongoing basis. Revisions to accounting estimates are recOASed in the period in which the estimate is revised where the revision affects only that period or in the period directly before. There are no key sources of estimation uncertainty that have A significant effect on the amounts recognised in the a¢counts. c) The accounts have been prepared undpJ the bistorical cost convention (as modified by the revaluation of certain fed assets). d) Income represents covenants and iDvestmeDt income generated by the Thist's continuing activitie5 and is accounted for on a receivable basis. e) Expenditure is allocated to expense headings either on a direct cost basis, or apportioned according to time spent. The irrecoverable element of VAT is included with the item of expense to which it relates. The Trustees have taken advantage of the exemptions available to smaller cbaTiii¢s and have ¢hosen not to prepare cash flow ststemenL g) Investments consist of quoted investsnents. Quoted investments are valued at their closing bid price on the balance sheet date. Increases and decreases in market value are reflected in the Statement of Financial Activities. h) The interest free loan is recogt]ised at its settlement amounL less any provision for non-recoverability. as this loan falls within the exemption from discounting to present value available to public benefit entities. i) The charity only has fanCial assets and f]nanGial liabilities of a kind that qualify as basic fmancial instruments. Basic financial instruments, including trade and other debtors and creditors are initially recognised at transaction value and subsequently measured at their settlement value. j) Restricted Fun(ts RestrictedIncome Ftsnds These fimds are subject to specific Testrictions imposed by the donots. They are represented by inwme funds, which are expendable in accordance witb the wnditions imposed by the donot3. The income generated by the Restricted Capital Fund is included within this fiwd. RtriCtEd C(Jpitol Funds These fimds cannot be spent other than in accordance with the tern)s of tbe endowment. Both the original capital and future generated income must be applied consistently in accordance with the condition5 imposed by the ternis of the endowment as detailed note 6(b). io
MARLBOROUGH MOUND TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2024 TOTAL EXPEI¥DITURE 2024 2023 Total expenditure includes: Auditors, remunerdtion £950 £700 Governance costs comprise auditor's r¢mun¢ration of £950 (2023: £700). Within the Statement of Financial Activities, tbis h&$ been allocated to expellditur¢ on charitable activities as this reflects the major component of the Trnst's worL TAXATION A$ a charity the Tht is exempt from United Kingdom income tsx on its charitable activities. INVESTMENTS Llsted investments Market value at 6 April 2023 Add., acquisitions Less: disposals Gain/(loss} on revaluation 2024 2023 645,987 254.944 (306,340) 33,969 703,480 184,033 (209,193) (32,333) Value at 5 April 2024 £628,560 £645,987 Cost of lllvestments At 5 April 2024 £521,638 £574,171 The investments are quoted on a recognised UK Stock Exchange and or are valued by r¢ferenLX to investments listed on a recognised Stock Exchange. DEBTORS 2024 2023 Accrued Income frorn Loan Chew Valley Trees 355,373 424 200,000 355.797 200,000 The interest free loans are repayable upon the death of the recipient, therefore is classified as a Current asset due to the uncertain timing of the recoverdbility. One loan w&5 repaid post year end. li
MARLBOROUGH MOUND TRusr NOTES TO THE ACCOUNTS FOR THE YEAR EIYDED 5 APRIL 2024 ALLOCATION OF THE CHARITY NET ASSET The net assets are held for the various fun(L% as follows: Investments Current assets Tolal Current year Restricted income fimds Restricted clta1 funds 628,560 375.401 1,003,961 £628,560 £375.401 £1,003.961 Invejtments Current assets Total Prior yeAr Restricted income funds Restricted capital fidS 645.987 223,368 869.355 £645,987 £223,368 £869,355 YEAR Balance is At 6 April 202J Investment Gains and Transfers B#lanee as At 5 April 2024 Income Expenditure (a) Restricted Income Funds 172,774 (172.774) (b) Restricted Capital Funds - Elstob Fund 869.355 105,920 28.686 Total funds £869,355 £172,774 (£66,854) 28,686 £1003,961 FUNDS- PRIOR YEAR Balanee as At 6 April 2022 Inve5tm¢nt Gain5 and Tr8nsfers Bxlance as At 5 April 2023 Income Expenditure (a) Restricted Income Funds 16,815 (1.6815) (b) Restricted Capital Funds - Elstob Fund 997,450 (61,567) (66,528) Total fidS £997,450 £16,815 (£78382) (£66,528) £869,355 12
MARLBOROUGH MOUND TRUST NOTES TO THE AccouKrs FOR THE YEAR ENDED 5 APRIL 2024 (a) Restricted income funds represent monies received for specific purposes as declared by the donors or with their authority. The income generated by the Restricted Capital Fund is included within this fAmd. In the event of there beiDg insufficient funds to carry out the projects or in the event of a surplus on the appeal any unspent funds will be used for tbc general purposes of the Tn]st and henrx funds traDsfeTred to the unrestricted fijnd. (b) Restricted Capital Funds represent an expendabl¢ endowment from monie5 received from the legacy of Mr E15tr)b, the fornier Chairman of the ThisL The TTUSt was gifted £850.000 and made an interest-free loan of £200,000 in 2005, which is due to be received back after year end. A further distribution of £150.000 was received in the year to 5 April 2007. The capital and income are to be used for the restoration of The Mound and any surplus thereafter sball be held as peTTnancnt Lmdowment with income onty being applied for the genera] purposes of The Marlborough Mound TrusL While the Trustees complete their review of the anticipated LSt of restoralion worK the amounts have been classified as an expendable endownenL RELATED PARTY TRANSACTIONS There are no related paty transactions to disclose for thc Ye ended 5 April 2024 (2023: none). No trustees rec¢ived remunerdtion for their role as tnteeS (2023: none). No trustees received reimbursements of expenses during the year (2023.. none). 13