REGISTERED CHARITY NUMBER: 1093523
Report of the Trustees and Unaudited Financial Statements for the Year Ended 30 June 2025
for The Burford Trust
Streets Dyke Ruscoe Ltd 110 Corve Street Ludlow SHROPSHIRE SY8 1DJ
The Burford Trust
Contents of the Financial Statements for the Year Ended 30 June 2025
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|---|---|---|---|---|---|
|Page|
|Report of the Trustees|1|to|3|
|Independent|Examiner's Report|4|
|Statement|of Financial|Activities|5|
|Balance|Sheet|6|
|Notes|to the Financial|Statements|7|to|12|
|Detailed|Statement|of Financial|Activities|13|
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The Burford Trust
Report of the Trustees
for the Year Ended 30 June 2025
The trustees present their report with the financial statements of the charity for the year ended 30 June 2025. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of the Burford Trust are to apply the income of the Trust to such charities and charitable purposes and in such shares as the trustees in their absolute discretion shall decide.
Public benefit
The trustees confirm that they have referred to the guidance outlined in the Charity Commissioners general guidance on the public benefit when reviewing the Trusts aims and objectives in setting out the grant making policy for the year.The trustees consider the charity to be a public benefit entity.
Grantmaking
Currently the policy of the trustees is to make grants to local, national and international charities which are involved in medical and cancer care, animal care and from time to time local charities covering specific local needs. Grants were made during the year amounting to £106,384 (2024: £105,750)
- The trustee's consider on an annual basis new applications for grants along with annual regular payments.
ACHIEVEMENTS AND PERFORMANCE
Achievements
Achievements during the year were promoting and funding local charities for the benefit of the local community.
The wider benefits to society as a whole have been donations to national charities to assist with medical research and support.
FINANCIAL REVIEW
Financial position
During the year, there was a receipt of £761 relating to the estate of the sole original benefactor and no donations (2024: nil).
Investment income during the year under review amounted to £102,734 (2024: £100,788).
Total funds of the Trust at 30 June 2025 were £4,509,890 (2024: £4,497,343).
After taking into account both Realised and Unrealised Gains the Capital Fund within the unrestricted fund amounted to £4,386,164 (2024: £4,391,844).
Principal funding sources
The Trust's charitable activities are funded from income generated from the Capital Fund which is a designated fund within the unrestricted funds.The funds of the charity are from donations and the legacy of one benefactor.
The trustees are also empowered in their absolute discretion to distribute such of the capital of the Trust Fund as is deemed necessary and desirable, in the same terms as the income, less expenses of the Trust.
At the present time the policy of the trustees is not to diminish the capital of the fund, but to use the net income after expenses in its entirety for charitable purposes.
Investment policy and objectives
The trustees with the assistance of the investment advisors closely monitor the performance of the investments which are mainly in shares in quoted public companies. The primary aim of the investments is to produce an income whilst minimising investment risk.
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The Burford Trust
:
: STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document document 7 The Burford Trust is a registered charity No. 1093523
Report of the Trustees
for the Year Ended 30 June 2025
FINANCIAL REVIEW
Reserves policy
There is no restricted fund. The trustees hold a designated capital fund within the unrestricted fund. Investment income generated by the capital fund is held in cash to distribute as grants; the trustees intention is that there should always be sufficient cash to pay one year's grants.
Going concern Theliabilities.trustees are of the opinion that the charity is a going concern given the substantial resources, compared to minimal
Governing document document The Burford Trust is a registered charity No. 1093523 and was constituted by a Declaration of Trust dated 25 June 2002.
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_
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.
The trust deed states that there shall be at least two ordinary meeting each year and applications for grants are considered at these meetings.
Recruitment and appointment of new trustees Trustees are recruited by existing trustees after having taken into consideration any skills gap identified within the trustee body and considering those who, by virtue of their personal or professional qualifications, are able to make a contribution to the objects or the management of the Charity.
Organisational structure
The day to day management of the charity is by the six trustees.
The management of the investments as indicated in the investment policy and objectives is delegated to the charity's investment advisors.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1093523
Principal address
c/o Streets Dyke Ruscoe Ltd 38 Teme Street Tenbury Wells Worcestershire WRIS 8AA
Trustees
Mrs S E Bishop Mr G V L Grant Mr A J Dale Mrs E K Padwick Mr JL W Grant Miss A R Waite ;
The land and property owned by the Trust is held by certain trustees’ as named nominees.
Independent Examiner S C Davies Streets Dyke Ruscoe Ltd 110 Corve Street Ludlow SHROPSHIRE SY8 1DJ
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The Burford Trust
Report of the Trustees for the Year Ended 30 June 2025
REFERENCE AND ADMINISTRATIVE DETAILS Solicitors Norris and Miles 6 Market Square Tenbury Wells Worcestershire WRI5 8BW Investment advisers EFG Harris Allday Beech House Anchorage Avenue Shrewsbury Business Park Shrewsbury SY2 6FG
Bankers TSB Bank plc 24 Teme Street Tenbury Wells Worcestershire WRI15 8AQ Approved by order of the board of trustees on 4 November 2025 and signed on its behalf by:
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‘¢ J Dale - Trustee
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ce
; -
-.
Independent Examiner's Report to the Trustees of
The Burford Trust
Independent examiner's report to the trustees of The Burford Trust I report to the charity trustees on my examination of the accounts of The Burford Trust (the Trust) for the year ended 30 June 2025.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do.not comply with the applicable requirements concerning the form and content of accounts set out
: in the Charities (Accounts.and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
S.c See
S C Davies
Streets Dyke Ruscoe Ltd 110 Corve Street Ludlow SHROPSHIRE SY8 1DJ
Date: .G..INOV:..SOC 5s...
Page 4
The Burford Trust
Statement of Financial Activities
for the Year Ended 30 June 2025
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|---|---|---|---|---|---|---|
|2025|2024|
|Unrestricted|Restricted|Total|Total|
|fund|fund|funds|funds|
|Notes|£|£|£|£|
|INCOME AND|ENDOWMENTS FROM|
|Other trading|activities|2|7,965|-|7,965|4,945|
|Investment|income|3|102,734|-|102,734|100,788|
|Total|110,699|-|110,699|105,733|
|EXPENDITURE ON|
|Raising|funds|4|17,623|-|17,623|17,338|
|Charitable|activities|5|
|Grant funding|activities|106,384|-|106,384|105,750|
|Governance|costs|:|5,355|-|5,355|6,067|
|Total|129,362|-|129,362|129,155|
|Net gains|on|investments|31,210|-|31,210|62,663|
|NET INCOME|12,547|-|12,547|39,241|
|RECONCILIATION OF|FUNDS|
|Total|funds|brought forward|4,497,343|-|4,497,343|4,458,102|
|TOTAL FUNDS CARRIED FORWARD|4,509,890|-|4,509,890|4,497,343|
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The notes form part of these financial statements
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The Burford Trust
.
Balance Sheet
30 June 2025
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|---|---|---|---|---|---|---|
|2025|2024|
|Unrestricted|Restricted|Total|Total|
|fund|fund|funds|funds|
|Notes|£|£|£|£|
|FIXED ASSETS|
|Investments|
|Investments|10|2,354,164|-|2,354,164|2,359,844|
|Investment property|11|2,032,000|-|2,032,000|2,032,000|
|4,386,164|-|4,386,164|4,391,844|
|CURRENT ASSETS|
|Prepayments|and accrued income|919|-|919|883|
|Cash|at bank|129,767|-|129,767|115,187|
|130,686|-|130,686|116,070|
|CREDITORS|
|Amounts falling|due within one year|12|(6,960)|-|(6,960)|(10,571)|
|NET CURRENT ASSETS|—|123,726|-|123,726|105,499|
|TOTAL ASSETS|LESS CURRENT|
|LIABILITIES|4,509,890|-|4,509,890|4,497,343|
|NET ASSETS.|.|4,509,890|-|4,509,890|4,497,343|
|FUNDS|13|
|Unrestricted|funds|4,509,890|4,497,343|
|TOTAL FUNDS|4,509,890|4,497,343|
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The financial statements were approved by the Board of Trustees and authorised for issue on 4 November 2025 and were signed on(its Bphalyoy:
Mr A J Dale - Trustee
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S. Ruphoe
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Mrs S E Bishop - Trustee
yy |
MrsEKie
The notes form part of these financial statements
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The Burford Trust
Notes to the Financial Statements
for the Year Ended 30 June 2025
- ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘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 (FRS 102) (effective 1 January 2019), Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of . Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
Income
:
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Allocation and apportionment of costs
The allocation of support costs is analysed in note 7 to the accounts.
Investment property
:
. Investment property is shown at the most recent professional valuation dated March 2015. The trustees consider that there has been no material change to that valuation.
Listed investments are valued at the market value at the year end date. Any aggregate surplus or deficit arising from changes in the market value is transferred to the Statement of Financial Activities and reflected in net gains/losses in investments.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
There are no restricted funds.
Bank and cash in hand
Cash at bank and in hand is held to meet the day to day running costs of the charity as they fall due. Cash equivalents are short term, highly liquid investments, usually in instant access interest bearing savings accounts.
Creditors
Creditors are amounts owed by the charity. They are measured at the amount that the charity expects to have to pay to settle the debt.
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The Burford Trust
| Notes to the Financial Statements - continued | Notes to the Financial Statements - continued | ||||
|---|---|---|---|---|---|
| for theYear | YearEnded30 June 2025 | ||||
| 2. | OTHERTRADING ACTIVITIES | ||||
| 2025 | 2024 | ||||
| £ | £ | ||||
| Otherincome | 3,065 | 45 | |||
| Grasskeep | 4,900 | 4,900 | |||
| — | |||||
| 7,965 | 4,945 | ||||
| 3. | INVESTMENTINCOME | ||||
| 2025 | 2024 | ||||
| £ | £ | ||||
| Otherfixed asset invest -FI | 101,877 | 99,840 | |||
| Deposit account interest | 857 | 948 | |||
| 102,734 | 100,788 | ||||
| 4. | RAISING FUNDS | ||||
| Othertrading activities | 2025 | 2024 | |||
| £ | £ | ||||
| Grasskeep commission | 489 | 489 | |||
| . | |||||
| Investmentmanagement costs | 2025 | 2024 | |||
| £ | £ | ||||
| Portfoliomanagement | 17,134 | 16,849 | |||
| Aggregateamounts | 17,623 | 17,338 | |||
| 5. | CHARITABLE ACTIVITIESCOSTS | ||||
| Grant | |||||
| fundingof | |||||
| activities | Support | ||||
| - | (seenote | costs (see | |||
| ; | 6) | note 7) | Totals | ||
| £ | £ | £ | |||
| Grantfundingactivities Governance costs |
106,384 - |
- 5,355 |
106,384 5,355 |
||
| 106,384 | 5,355 | 111,739 |
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The Burford Trust
Notes to the Financial Statements - continued for the Year Ended 30 June 2025
6. GRANTS PAYABLE
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|---|---|---|---|
|2025|2024|
|£|£|
|Grant funding|activities|106,384|105,750|
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All grants paid during 2025 and 2024 were to charitable organisations with a broad analysis of beneficiary types as follows:
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||||||||||
|---|---|---|---|---|---|---|---|---|
|2025|2024|
|£|£|
|Advancement of|health|and welfare|or saving|of lives|32,000|32,500|
|Advancement of|religion|6,500|6,000|
|Advancement|of|human|rights,|equality|and|diversity|3,000|3,000|
|Emergency|services|6,000|4,500|
|Advancement of citizenship|or community|development|-|1,000|
|Animal|welfare|2,500|2,500|
|Advancement of|education|2,000|2,000|
|Support|of|armed|forces|of|the|Crown|500|500|
|Prevention|or relief of|poverty|4,500|9,000|
|Advancement of|the|arts,|culture,|heritage|or|science|1,000|1,000|
|Relief|of|those|in need by|reason of|youth,|disability or other disadvantage|23,500|19,500|
|Gifts|for the|benefit of|a particular locality|24,884|24,250|
|Total|grants|authorised|in the year|106,384|105,750|
|7.|SUPPORT COSTS|
|Governance|
|Management|Other|costs|Totals|
|£|£|£|£|
|Governance|costs|1,357|3,856|142|5,355|
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Other costs consist of independent examination fees of £2,571 (2024: £2,581) and accountancy fees of £1,285 (2024: £1,291).
- TRUSTEES' REMUNERATION AND BENEFITS
During the year, Mr A J Dale has been paid £Nil (2024: £875) for administration services.
No fees are paid to the trustees for normal trustees duties.
Trustees’ expenses
During the year, expenses incurred wholly and exclusively for the trust of £Nil (2024: £29) were incurred by, and reimbursed to Mr A J Dale and £142 (2024: £Nil) were incurred by and reimbursed to Mrs E K Padwick
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The Burford Trust
:
Notes to the Financial Statements - continued for the Year Ended 30 June 2025
| 9. | COMPARATIVESFORTHE STATEMENTOFFINANCIALACTIVITIES Unrestricted |
COMPARATIVESFORTHE STATEMENTOFFINANCIALACTIVITIES Unrestricted |
COMPARATIVESFORTHE STATEMENTOFFINANCIALACTIVITIES Unrestricted |
Restricted | Total |
|---|---|---|---|---|---|
| fund | fund | funds | |||
| £ | £ | £ | |||
| INCOMEANDENDOWMENTSFROM | |||||
| Othertrading activities | 4,945 | - | 4,945 | ||
| Investmentincome | 100,788 | - | 100,788 | ||
| Total | 105,733 | - | 105,733 | ||
| EXPENDITUREON | |||||
| Raisingfunds | 17,338 | - | 17,338 | ||
| Charitable activities | |||||
| Grantfunding activities Governance costs |
105,750 6,067 |
- - |
105,750 6,067 |
||
| Total | 129,155 | - | 129,155 | ||
| Netgains oninvestments | 62,663 | - | 62,663 | ||
| NETINCOME | 39,241 | - | 39,241 | ||
| RECONCILIATION OF FUNDS | |||||
| Totalfundsbrought forward | 4,458,102 | - | 4,458,102 | ||
| TOTALFUNDS CARRIEDFORWARD | FORWARD | 4,497,343 | - | 4,497,343 | |
| 10. | FIXEDASSETINVESTMENTS | ||||
| Listed | |||||
| ; | investments | ||||
| £ | |||||
| MARKETVALUE | |||||
| At 1 July2024 Additions Disposals Revaluations |
. | 2,359,844 268,875 (319,550) 44,995 |
|||
| At30 June2025 | 2,354,164 | ||||
| NETBOOKVALUE | |||||
| At30 June2025 | 2,354,164 | ||||
| At30June2024 | 2,359,844 | ||||
| Included in investments are overseas invested funds: | 2025 | 2024 | |||
| £ | £ | ||||
| 217,852 | 223,748 |
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The Burford Trust
Notes to the Financial Statements - continued for the Year Ended 30 June 2025
- INVESTMENT PROPERTY
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|||||
|---|---|---|---|
|£|
|FAIR VALUE|
|At|1|July 2024|
|and 30|June|2025|2,032,000|
|NET BOOK VALUE|
|At 30|June 2025|2,032,000|
|At 30|June 2024|2,032,000|
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The investment property relates to land donated to the charity through the legacy of the sole benefactor. The value represents the probate valuation as reflected on the benefactors Inheritance Tax return. The land will be let under licence agreements for the foreseeable future.
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|---|---|---|---|---|---|---|---|---|
|12.|CREDITORS:|AMOUNTS FALLING DUE WITHIN ONE|YEAR|
|2025|2024|
|£|£|
|Other creditors|6,960|10,571|
|13.|MOVEMENT|IN FUNDS|
|Net|
|movement|At|
|At|1.7.24|in|funds|30.6.25|
|£|£|£|
|Unrestricted|funds|
|General|fund|4,497,343|12,547|4,509,890|
|TOTAL FUNDS|4,497,343|12,547|4,509,890|
|Net movement|in|funds,|included|in the|above|are|as|follows:|
|Incoming|Resources|Gains|and|Movement|
|resources|expended|losses|in|funds|
|£|£|£|£|
|Unrestricted|funds|
|General|fund|110,699|(129,362|)|31,210|12,547|
|TOTAL FUNDS|110,699|(129,362)|31,210|12,547|
|Comparatives|for movement|in|funds|
|Net|
|movement|At|
|At|1.7.23|in|funds|30.6.24|
|£|£|£|
|Unrestricted|funds|
|General fund|4,458,102|39,241|4,497,343|
|TOTAL FUNDS|4,458,102|39,241|4,497,343|
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vo.
The Burford Trust
Notes to the Financial Statements - continued for the Year Ended 30 June 2025
- MOVEMENT IN FUNDS- continued
Comparative net movement in funds, included in the above are as follows:
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|||||||
|---|---|---|---|---|---|
|;|Incoming|Resources|Gains|and|Movement|
|resources|expended|losses|in funds|
|£|£|£|£|
|Unrestricted|funds|
|General fund|105,733|(129,155)|62,663|39,241|
|TOTAL FUNDS|105,733|(129,155)|62,663|39,241|
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A current year 12 months and prior year 12 months combined position is as follows:
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|||||||
|---|---|---|---|---|---|
|Net|
|movement|At|
|At|1.7.23|in|funds|30.6.25|
|£|£|£|
|Unrestricted|funds|
|-.|General|fund|4,458,102|51,788|4,509,890|
|TOTAL FUNDS|4,458,102|51,788|4,509,890|
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A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
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||||||
|---|---|---|---|---|
|Incoming|Resources|Gains and|Movement|
|;|resources|expended|losses|in funds|
|£|£|£|£|
|Unrestricted|funds|
|General fund|216,432|(258,517)|93,873|51,788|
|TOTAL FUNDS|216,432|(258,517)|93,873|51,788|
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- RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 June 2025.
- GOING CONCERN
;
The trustees consider that there are no material uncertainties about the charity's ability to continue and the financial statements have therefore been prepared on the going concern basis.
The trustees have assessed the charity's cash reserves which are sufficient to enable its activities to continue for twelve months without the receipt of any additional funds.
Page 12
The Burford Trust
Detailed Statement of Financial Activities for the Year Ended 30 June 2025
| for thethe Year EndedEnded 30 June 20252025 | |||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| INCOMEAND ENDOWMENTS | |||
| Other trading activities | |||
| Otherincome | 3,065 | 45 | |
| Grasskeep | 4,900 | 4,900 | |
| 7,965 | 4,945 | ||
| Investment income | |||
| Other fixed asset invest - FII | 101,877 | 99,840 | |
| Deposit account interest | 857 | 948 | |
| 102,734 | 100,788 | ||
| Total incoming resources | 110,699 | 105,733 | |
| EXPENDITURE | |||
| Othertrading activities | |||
| Grasskeep commission | 489 | 489 | |
| Investmentmanagement costs | |||
| Portfoliomanagement | 17,134 | 16,849 | |
| Charitable activities | |||
| Grants to institutions | 106,384 | 105,750 | |
| Support costs | |||
| Management | |||
| Insurance | 1,357 | 1,291 | |
| Other | |||
| Accountancy | 3,856 | 3,872 | |
| Governance costs | |||
| Trustees' fees | - | 875 | |
| Trustees' expenses | 142 | 29 | |
| 142 | 904 | ||
| Totalresources expended | 129,362 | 129,155 | |
| Net expenditure before gains and losses | (18,663 ) | (23,422) | |
| Realised recognisedgainsand losses | ; | ||
| Realised gains/(losses) on fixed assetinvestments | (13,785) | (8,837) | |
| Netexpenditure | (32,448) | (32,259) |
This page does not form part of the statutory financial statements
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