THE DOUGLAS BOMFORD TRUST
(A company limited by guarantee)
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Charity number
1121785
CompgJ]y number
06355202
LANDERS ACCOUNTANTS LTD
Chartered Accountants & Registered Auditors
ChuTch View Chambers
38 Market Square
Toddington
Bedfordshire
LU5 6BS

THE DOUGLAS B0]I￿oRD TRUST
CONTENTS OF THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
CONTENTS
Reference and adrninistrthve details
Trustees. Report
Trustees, Responsibilities Statement
13
Independent Examiners Report
14
Statemfflt of Financial Activities
(incorporating income and expenditure account)
15
Balance Sheet
16
Notes to the Financial Statements
17

THE DOUGLAS BOMFORD TRUST
REFERENCE AND ADMIIYISTILITKVE DETAILS
FOR THE YEAR ENDED 31 MARCH 2024
The tn￿tees, who are also directors of the charity for the pU￿oseS of the Companies Act, submit
their annual report and the financial statements for the year ended 31 March 2024. The t￿￿teeS have
adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and
Reporting by Charities" second edition issued in 2019 in preparing the annual report and fuiancial
statements of the charity.
I. REFERENCE AIYD ADMINISTRATION
l. I Charitable Companies Name:
The Douglas Bomford Trust
1.2 Charity Registration NumbeT'.
1121785
1.3 Company Registration Number:
06355202
1.4 Registered Office and
Operational address
Bullock Buildin& University Way, Cranfield
Bedford, MK43 OGH
Telephone. 01234 750856
e-mail" en
uirRes
dbi.or
1.5 Trustees and Directors
Mr Nick August
hair)
Dr Mark Moore
(Vice Chair)
Mr Jonathan Bornford
(FamilyRepr¢Jentatlve and1￿e￿lIne￿i oificer)
Mr Richard E Robinson
Mr Clive Blacker
Mr John R Baines
Prof Simon Pearson
Ms Rebecca Geraghty
Prof Jane Rickson
Ms Julia Lucas
Fanner
Engineerlmanufacturer
Chartered Accountant
Engineerlmanufacturer
Director/Consultant
Consultant
University Professor
Research Scientist
University Professor
Chartered Accountant
Dr Paul C H Miller
Research/Consultant
(EmerituJ Tnistee)
Mr John V Fox
(Emerift45 Tn4Stee)
Engineering Consultant (retired)
1.6 Secretary
Mr Alan Plom (until 2J November 2023)
Mr David White (from 21 November 2023)
1.7 Financial administration:
Mrs Elizabeth Stephens
1.8 Relevant organisations and people:
Fund Managers
CCLA Investment Management Limited
80 Cheapside, London EC2V 6DZ
Investec Wealth & Investment Ltd
30 Gresham Street, London EC2V 7PG

THE DOUGLAS BOMFORD TRUST
REFERENCE AND ADMINJSTRATIVE DETAILS
FOR THE YEAR ENDED 31 MARCH 2024
Deposit Fund
COIF Charities Deposit Fund
CCLA Investment Managetnent Limited
80 Cheapside, London EC2V 6DZ
Bankers
HSBC Bank plo 12 Allhallows,
Bedford MK40 ILJ
Legal Advisers
Withers LLP, 16 Old Bailey, London,
EC4M 7EG
Independent Examiners
Landers Accountsnts Ltd, Church View
Chambers, 38 Market Squar4 Toddington,
DunstablA Bedfordshire, LU5 6BS

THE DOUGLAS BOMFORD TRUST
REGISTERED NUMBER 0635S202
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
2. STRUCTURE, GOVERNANCE AND TrI4NAGEMENT
2. 1 Background: The Dougl&s Bomford Trust (The TnL8t) is concerned with all aspects of
engineering to support agriculture (food production, energy crops and environmental cropping
schemes), horticulture (food production and ornamentals) and foresty. The Trust celebrated its 50
Aj￿1verSary in 2021 having been established under a settlement dated l May 1972.
2.2 The Trust operates as a registered charity and was incorporated as a Company Limited by
Guarantee on 29 August 2007 (Company number 06355202). As a consequence of this
incorporation, arrangements were put in place for the Trust to be merged into The Douglas Bomford
Tiust (Charity number 1121785) with effect from I" April 2008 with new Artides of Association
that retain the primary objectives of the Ori￿nal trust.
2.3 The original aim of the Trust 'fto advance education, training and researth in the science and
practice of agriculturat ￿￿neerIng and mechanisation" has remained broadly the same over the
past 5 decades, although this was expanded in 1980 by a Memorandum of Wishes (written by
Douglas Bomford's widow). Funding criteria were revised in 2004 to reflect the change in land llge
and agriculture in society. During th¢ Trust's 50th year, a new Strategy was developed to help make
more effective use of available funds by focusing on key themes and priority topics.
2.4 The Board.. General Management (Board) Meetings (GMM) are held biannually (in April and
November) when Trustees review the management and perforniance of the Trust, the strategy and
take decisions on major funding ap'plications. The Annual General Meeting (AGM) PTecedes the
GNLM in NovembeI.
2.5 The Board endeavors to ensure trustees represent the wide range of interests across the sector, to
ensure relevant. current advice and decisions. New tn￿teeS are nominated and appointed (at an
AGM), initially for a period of three years, and generally serve six - longer if elected to ch￿'r or
Vice-chair. The Bomford Family representative is not restricted and, exceptionally, forn]er trustees
rnay be granted the honorary tid¢ of Emeritus Tn￿te¢ to continue to share their expertise.
2.6 A re8lSter of Trustees. interests is mainlained, and trustees are required to declare any confiicts
of interests at every GMM, or in relalion to specific issues as they arise, e.g. to ensure independence
when evaluating or mentoring projects which might have commercial implications or potential
conunon interests in areas of research.
2.7 Administration and Support: The Secretary caffies out the day-to-day running of the Trust
with advice from the Chair or other trustees as appropriate, working closely with the Finance
Adrninistration Officer, who provides support on administrative as well as financial matters, As the
Trust is essentially a grant awarding charity, most decisions nonnally relate to the awarding of
funds. Applications for sponsorship are usually received via the Trust's email account or website.
The Secretary assesses their relevance and consults Trustses as appropriate.
2.8 A 'Training and Induction Pack, has been produced to infornl new Trustees and Officers of the
Trust's established policÈes and procedures. It includes tsmplate documents to fflsure continuity
and consistency. Trustees are infomied of relevant training opportunities, e.g. on the role of
Trustees in governance and managmg investments.

THE DOUGLA
BOMFORD TRUST
REGISTERED NUMBER 06355202
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
2.9 Funding: Financial support offered by the TnLSt ranges from relatively small one-off 'minor'
awards (e.g. for travel or short-terni Iow-COSt projects, donations and other discretionary awards). to
funding or co-sponsoring 'maJor' projects (mostly PhD research. but other initiatives may be
onsidered).
'Majorf Awards: Amounts over £5K allocated mostly for co-sponsoring PhD research
projects. These aTe considered by the Board twice yearly, at GMMS. Applicats'ons rn￿$t be
submitted using the ternplate posted on our website, indicating key outcomes. potential
impact, milestones. reporting aTrangements, other funding obtained, and the payment
schedule. These may be modified in discussion with the applicant and co-sponsors. If
approved, the agreed tern￿ are incorporated in a fornial 'offer letter,, which constitutes The
Trust's written contract. This is prepared by the Secretary on behalf of the Trust and agreed
by a representative of the recipient organisation.
Sminor, Awards: Applicatt'ons for amounts less than £5k do not have to be referred to a
GMM and can be approved by two Trustees at any time. Recipients are required to provide a
brief report of the outcomes and personal benefits of their grant. These are monitored by the
Secretary, shared with Tn￿teeS and posted on the website when appropriate, to illustrate the
wide range of topics and initiatives we support and to share useful infornlaiion.
2.10 Mentorfng: Trustees with relevant expertise, experience or interest are allocated as a mffltor
to major projects. to advise sponsored students and their supervisors. Recipients are ffApected to
provide regular update5, and to organise review meetings with their Mentors, who monitor progress
against the agreed deliverables and milestones. The Trust reserves the right to withhold or moth'fy
payments at any siage of a project or under-iaking, with due notice, if the agreed outcomes are
unlikely to be achj'eved to the Trust's satisfaction. To enswe consistency in selecting and
monitoring projects. aide-rnernoires are available.
2.11 Inforniation: Documents associated with supported applications are retained in a secure
cloud-based data store (fornierly Dropbox, now (as of 2024) Microsoft OneDrive). Unsuccessful
applications are retained &8 emails. for further consideration by trustees should applicants appeal or
provide additional inforn￿tion. A register of all applications received and the decision to support or
not h&q been maintained since November 2021. This record will be retained for 3 years. Peisonal
data is only used for the purposes of the TrLLSt and is retained as necessary - and then for a limited
period (up to 6 years), in accordance with the Trust's General Data Protection Regulations (GDPR)
Policy.
2. 12 Strategy and Risk Management: The Secretsry routinely reviews the Trust's overall strategy,
communications policy and business risk assessment, considering cu￿ent advice from the Charities
Commission, the Governrnent website, investors and other sources. to identify any emerging issues
relating to management of finances. administration or ieputation of the Trust. Trustees review the
overall strategy annually in November and the risk assessment every 6 months, at GMMS. '￿'skS,
are 'RAG' rated (i. e. red, amber, or green), b&8ed on their assessed probability and impact and are
revised to reflect significant changes that may aff￿t the operation of the TrusL
2.13 Potenti￿ Fin￿¢[al implications arising from cancellation of events or injuries incurred during
sponsored travel are covered by suitable 'risk mitigation. clauses in our stsndard 'offer letter,.
Recipients advised that the Trust has limited liability and appropriate precautions, and sufficient
insurance cover/indenmity must be provided bylfor recipients of funding.

THE DOUGLAS BOMFORD TRUST
REGISTERED NIJMBER 06355202
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
3. AIMS, OBJECTIVES AND ACTtVlTIES
3. 1 The Trust's overall aim "To advance knowledge, umlerstanding, practice, and competence
tightened monitoring of projects in the application ofengineering and technologv ro achieve
sustainable agriculthral, food and biological systemsfor the benefit ofthe environment and
mankin&, was supplemented in 2022-23 by new 'Vision' and 'Mission' ststements:
Vision: "To make aposirive difference lo enhance globalfood security and climale change
by encouraging innovaiion in agricultural engineering"
Mission: "To provide resources to help advance the applicallon ofengineering and
technologv io achieve sustainable agricultural, foo4 and biological systems, for ihe benefit
of the environmep71 and mankind and with a link to the UK. '
3.2 To achieve these, the Trust provides funding to enable competent individuals and organisations
to pursue:
Education, training, research and knowledge transfer.
Innovation and the application of science and technology with respect to the design,
development, construction and evaluation of equipmen( systems and techniques.
Travel to acquire or disseminate knowledge.
The development, maintenance and recognition of professional competencies.
The development or acquisition of new sknlls, techniques and capabilities.
3. 3 Edueation, Training and Research: Achieved principally by supporting the higher education
of inthviduals with potential, and who are aiming to become professional engineers or scienlists
applying their expertise to agricultural and land-related problems. Priority is given to those worknng
in areas of national or lechnical importance that will advance agricultural engineering. and who are
able to obtiin co-sponsorship from other sources.
3.4 Knowledge Transfer and Trnvel: These complementary objectives supporting personal
development, understanding and communication of knowledge and research findings are achieved
by sponsoring students to attend national and international technical events and conferences, to
present papers or posters, undertake focused study tours. etc. Now that events and conferences are
being held face-to-face again, requests for travel awards have increased significantly. Online events
can still attract delegates, fees.
3. 5 Supporting the Professlon: The Trust seeks to encourage more engineers into the a￿]Cultural
sector and help to enhance their competence and career progression by actively prornoting
professional qualificats'ons and personal development. The Trust stimulates enty into the profession
prinwily through funding student membership of the Institution of Agricultural Engineers (IAgrE)
for undergraduates and postgraduates studying relevant courses or undertaking related research
(including at universities not running tradits. onal 'agricultural engineering, courses). The Trust also
engages with young people pre-university. by supporting A-level students interested in wicultural
engineering (through the Arkwright Stholarship Scheme).
3.6 The IAgrE (like other professional bodies) continues to face the challenge of retaining student
members after they leave full-time education and start work. The Trust continues its sponsorship
(up to a M￿lmuM £7.5klyear) and is working with the IAgrE to find new ways to increase
engagement and improve the level of support provided for student members. This is subject to
annual review.

THE DOUGLAS B
MFORD TRUST
REGISTERED NUMBER 06355202
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
3. 7 The Trust sponsors IAgrE Conferences and Prizes and continues to rent a pernwAent office in
the IAgrE headquarters at Cranfield University, Bedfordshire. Although the Trust's Officers
primarily work from home and rarely use the office (since Covid), it does provide important storage
space and an occ&sional meeting point for Trustees and staff. Liaison with IAgrE's CEO and
Secretariat is n￿Intained through regular email or 'virtual' contact. Inth'vidual Trustees are also
members of IAgrE's Executive an(Vor Council, enhancing the Trust's relationship with the
professionaj body.
3.8 Prizes: To recogrnse good academic perfornKqnce and the contribution of individuals to the
profession, a number of prizes are presented each year. These include an annual Award presented to
the author(s) of the best paper published in one of the IAgrE's publications ('Biosystems
Engineering, or 'Landwards') and two awards recognising the contribution of engineers to
improving the environment are also now offered. Recipients are selected by the IAgrE AW￿dS
Panel, which includes a representative of the TrLL8t.
3. 9 Pri7£s are also presented annually to outstanding students on courses compatible with the aims
of the Trust. Traditionally, these have been awarded to students at three universities.. Cranfield,
Harper Adams (HAU) and the Royal Agricultural University (RAU), but other academic
establishments running relevant courses or research are invited to norninate suitable students.
3.10 Scholanhips: Scholarships are awarded each year to support individual undergraduate or
Masters-level students in their studies or project work, and to help their personal development. This
is a competitive process, based on the quality of proposals, perforn]ance in interview and evident
commitment to engineering. A panel of Trusiees inlerviews those selected from the candidates
nominated by their university. In particular, the Trust works closely with the Harper Adams
Development T￿￿( which manages their well-established Scholarship Programme and the Trust
encourages other universities to adopt their approach.
3. 1 l Awards usually range from £1,000 to £2,000 and are typically used to fund travel. equipment
and materials for personal projects. extra-curricular training; reference materials, IT software and
hardware (computers, 3D printers, etc.) to assist their research and S￿￿'eS. or other purposes to aid
personal development. Discretionary grants are also occasionally awarded when deemed
appropriate by the Panel.
3.12 Equal opportunities: All applicants, regardless of age, sex, race, nationality, creed or status
are treated equally. Individuals suffering from genuine financial hardship or whose disability is
inhibiting their study are also supported. Requests for sponsorship and opportunities to support and
enable women to progress in the predominantly male environment of agncultural en￿neering are
also considered positively.
4. ACHIEVEMENTS AND PERFORMANCE
4. 1 Overview: Trustees look back with satisfaction on the Trust's 51. year, during which the TnLSt
held the DBT Strategy Sununit meeting on 8 November 2023 held at the Agri-EPI Centr
NewporL Shropshire. The Trust continued to raise its profile in the agricultural, engineering and
academic sectors, and enhanced its relationship with relevant charities and indu5ty organisations,
as well as maintaining our support and involvement across a wide range of activities. Trustees
confirnied they were satisfied with the Secretariat's administration, financial control and extemal
reporting arrangements at the GMMS held in April 2023 and November 2023.

THE DOUGLAS BOMFORD TRUST
REGISTERED NUMBER 06355202
REPORT OF THE TRUSTEES
FOR THE ￿AR ENDED 31 TrL4RCH 2024
4.2 Stratw Summit
The Trust convened the Summit to share TnL8tees' concerns and aspirations for the contribution of
agricultural engineering, and to instigate discussions between all parts of the industy. It brought
together nearly 50 delegates, representing farniers, equipment Man￿aCturerS and dealers, the
education and training sector, research and sponsors. etc. Relevant Government Departments were
unable to send representatives but have a8Teed to discuss the recommendations arising from the
meeting.
4.3. An interactive group workshop session, led by questions posed by the Trust, prompted
delegates to convey what believe is needed to enable "agricultural engineering" (in its widest
sense) to contribute more effectively to sustainable food production on UK famls.
DBT'S Trustees considered the broad recommendations at their GMM on 21st
November 2023, and actions are under consideration by the Board
4.4 Patron.. The Trust's first Patroo Dr David Llewellyn (CBE, FIAgrE) continues in this role. A
fonner Vice-chancellor at Harper Adan￿ University, Dr Llewellyn is still active in several
organisations infiuencing national agricultural and educatt'on polÉcy.
4. 5 Neiv Approach: The rnajor development during The Trust's Jubilee year was the production of
a new Strategy for identifying and selecting research proposals (and other initiatives). Since the
Trust W&8 established in 1972 it has adopted a 'passive' approach, accepting and supporting
proposals that aligned with the Trust's broad objectives. However, over recent years there have
been sigNficant changes in the industry in the UK and in sources of funding and locations for
research in 'agricultural engineering,. Recruiting UK students to undertake relevant higher degree
studies at UK universilies has also become more difficult.
4.6 Having reviewed the Tn￿t'S role and perfornwice, the Board devised the new Strategy to
enable the Trust to be more proactive and make more effective use of available funds, by focusing
on key areas, Recognising that the Trust cannot do everything with its available resources and
relatively small budget (compared to funds available for research nationally), the Board deviseAI a
new 'Mission' and 'Vision' statements and identify priority topics to enable the Trust to be more
proactive in future. [This is explained further in section 6.]
4. 7 Meetings: Trustees and support staff are mindful of the multiple benefits of saving time (and
money) by holding most meetings on-line (e.g. to discuss particular issues as they emerge. or
project review meetings). 'Virtual' meetings also allow greater flexibility in timing and other
Trustees with an interesl can join in more easily. The GMM in April 2023 was held virtually via
Zoom and the AGM/GMM in November 2023 was convened at Wrest Park Enterprise,
Bedfordslu're. The Board weed in 2023 to hold alternate GMMS face-to-face, preferably at an
academic institution.
4.8 Suecession: The Trust continues to identify and maintain representstion and expertise from
across the industry (including governance/fllWAcial management and soils). The Trust's Secretary,
Alan Plom, retired in November 2023 at the AGM. David R Wbite (ex-DBT Trustee) is the new
Secretary. The Trust's Financial Administrator is due to retire in the next 2-3 yvars.

THE DOUGLAS BOMFORD TRUST
REGISTERED NUMBER 06355202
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
4.9 Publicity: The Secretary continues to publicise the Trust's activities and sponsored projects.
particularly through articles in the IAgrE's quarterly joumal 'Landwards' and Student e-Newsletter,
and the Douglas Bonrford Trust website. The content is updated regularly, with copies of the latest
articles. reports on projects, trips and award ceremonies posted on the News page. Linkedln is used
to raise awareness of the Trust's activities and support, as well as to inforni 'alumni' and others
about other sources of funding. Continued Professional Development (CPD) events and (post-
graduate) job opportunities.
4.10 Eipenditure: Activities and, consequently, expenditure increased during the year, post-
pandemic. The distribution between our main categories of expenditure was as follows, and
e￿rnples ate given below:
2023
Research and postgraduate study
Studentships and thscretionary awards
Other awards and donatsons
Governance
Investment charges
4.1 l Research and Postgraduate Studie8: Ten PhD projects were sponsored by the Trust during
2023-24. The onus is now being put on recipients to provide timely updates and supervisors to
arrange Project progress review Meetings with their Mentors, rather than wait for a prompl from the
Secretary. Project Assessrnent and Monitoring Check Lists aid the review process, as well as
helping Trustees and the Secretary to assess suitability of projects for funding. Trustees also provide
further support (in kind) through mentoring individuajs and research teams.
4. 12 The number and quality of PhD project applications continues to be disappointing. Most of
those approved require further discussion on methodology or deliverables and it is difficult to
identify similar research
ongoing or complet￿. However. there continue to be a number of
requests to support non-relevant projects and applications from individuals outside of UK to fund
non-relevant degree courses.
The Tnjst again funded an Msc group project to help the Board
develop the framework for the new Strategy.
4.13 The Trust has continued to expand its contacts and involvement with a wider range of
academic establishments, increasing awareness of the wide scope and potential impact of
agricultural engineering, enshrined in the Trust's objectives. However, this leads to the speculative
requests seeking sponsors]ll' p, particularly from overseas students who have been offered a place on
courses in the UK but are unable to pay their course fees and living costs. These are rarely
sufficiently aligned to wicultural en￿neering. Applicants are referred to the Agri-Food Charities
Partnership (AFCP) website, where they can search for alternative sponsors.
4.14 Studentships and Discretionary Awards: Five students from HAU were awarded
Scholars￿'ps after face-to-face interviews. The Panel were again impressed with interviewees,
confidence, knowledge, range and standard of their proposals. The students, feedback on the value
of their interviews was also very positive, and they report making effective use of their awards. It is
also notable that several previous recipients (at HAU) have become more involved in their local
IAgrE branch meetings and Committee, as well as organising the Eng￿eering Society at HAU.

THE DOUGLAS BOMFORD TRUST
EGISTERED NUMBER 06355202
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
4.15 The TnLSt continues to sponsor A-level students through the Arkwright Trust's Engineering
Scholarship Scheme. The aim of the Scheme is to inspire students to consider studying agricultural
engineering at university and for a career. They receive direct communication and advice from a
Trustee Mentor. They are also encouraged to attend their local IAgrE Branch meetings andlor other
meetings on-line.
4.16 Travel Awards: The Trust continues to provide Travel Awards to support individuals and
groups to attend national and international conferences, techrrical shows and other events again in
person. benefiting from exposure to a wider audience and face-to-face interaction with other
students and 'experts'.
4.17 Prizes: The Trust's prestigious Award for the best paper by an IAgrE member published in
'Biosystems En￿neering. w&s presented at the IAgrE's Awards Presentth'on in May 2023. Prizes
are another way that the Trust recognises students, academic perfornunce and encourages their
contribution to agricultural engineering. Trust-sponsored prizes awarded by universities in 2023
Énduded an annual award at RAU. and awards for two students at Cranfield University. Other
universities are encouraged to nominate individuals.
4. 18 Supporting the Profession: The aim is to encourage more engagement by students with the
professional body (IAgrE), in line with our shared objective to encourage students to opt for a
career in the sector and enable them to progress within it. Retention of young professionals. post-
graduation continues to be a challenge facing all professional bodies. To help alleviate this, the
Trust's sponsorship for student membership of IAgrE was incre&8ed (up to a m&ximum of
£7,5001year) and the Trust is seeking ways to m&ximise the outcomes of our sponsorship and
forn]al Agreement with IAgrE. Students are encouraged to attend and become involved in Branches
and Specialist Groups. This has been made easier by many meetings now being held online. The
Secretary and Trustees continually look for opportunities to interact and encourage students and are
exploring how the Trust can collaborate more effectively with other charities, universities and
leading research organisations such as Agri-EPI, to provide opportunities.
5. FINANCIAL REVIEW
5.1 Policy
5. 1. l The Tnjst h&$ long-tenn equity investments, a deposit account, and bank current accounts.
The equity investments are in the name of the Trust, with the Secretary as authorised correspondent
and with the Investment Officer overseeing investment perforniance and advising the trustees on
investment policy. The bank accounts require two Si￿atorieS from either the ChairnwL another
trustee, or the Secretary.
5.1.2 Tnjstees continue to take the view that it is prudent to have some diversity in the approach to
fund management, at least over the medium ternL &8 a precaution against the continuing ￿'gh levels
of uncertainty across all asset classes in the market.
5.1.3 The underlying policy of budgeting project expenditure to the level that can be financed from
current income has continued. Under nornial conditions sufficient funds to cover at least the
budgeted annual expenditure are held as a reserve in a deposit account.

THE DOUGLAS BOMFORD TRUST
REGISTERED NUMBER 06355202
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
5.1.4 Investment perf0M￿]Ce is reviewed regularly through discussions and meetings with the
respective fund managers and investment criteria adjusted accordingly. No specific ethical criteria
are applied.
5.1.5 The Trust continues to seek contributions from donations and legacies as appropriate.
Donations were received during the year from private inth'viduals (with no requests or conditions
associated with these).
5.1.6 Investment income for the period has increased. Going forward, Investec income will be on
an agreed Total Retum basis and CCLA income is usually accuratdy predicted, so income levels
are e&sier to estimate. The trustees are confident that a combination of intellig￿t budgeting and the
availability of reserves will allow all commitments to be met.
5.2 Remuneration and expenses
None of the trustees received any remuneration. The Secretary and Financial Administrator
continue to be paid on a self-employed basis. Trustees, the Secretary and Admi'nistrator are entitled
to claim out of pocket expenses that are directly associated with carrying out Trust business.
Potential liabilities for trustees and officers catrying out their roles on behalf of the Trust are
covered by Public. Professional and Employees Liability Insurance (designed for charities and
trusts)
5.3 Accounts 202&2024
The accounts for the year ending 31 March 2024 did not require that an audit be undertaken.
Independent examiners have examined the accounts.
The activities of the Trust resulted in a surplus of income over expenditure of £15,049 (2023..
£187,576) for the year.
5.4 Income
Total income was £168.562 (2023.. £336,730), of which £164,457 (2023: £156,196) related to
dividends and interest on investments. The remainder related to c&8h donations received.
5.5 Expendith
Total expenditure w&8 £153,513 (2023.. £149,154), of which £28,944 (2023: £21,914) related to
admmi'strats'on and governance. The balance of expenth'ture w&g for Gharitable purposes.
5.6 The Trust (Capital) Fund
VaIuation of the combined investments at the year-end was £6,230,179 (2023: £5,737,619). this
was an increase of £492.560 over the year.
5.7 Net Current Assets
Net current assets stood at £191,455 (2023.. £161,392).
10

THE DOUGLAS BOMFORD TRUST
REGISTERED NUMBER 06355202
REPORT OF THE TRUSTELS
FOR THE YEAR ENDED 31 MARCH 2024
6. FUTURE PLANS
6.1 The Board remains mindful of geo-political instability and infiationary pressures on our
investments as well as individuals and organisations. The Board is also committed to n￿￿ntaining
Douglas Bomford's legacy through the Trust's new strategy and propose that up to 500/0 of the
Tn]st's annual funds available for sponsoring projects will be allocated to the topics the horizon-
scanning research suggests that our support will have most impact. Delivery of the new Strategy
was dISc￿$sed with potential applicants and collaborators at the Summit in November 2023, when
topics that will attTact funding by the Trust were highlighted.
6.2 For the next three years (at le&qt) the Trust will focu8 its support on 4 main themes:
People
Technology
Collabor￿1¢￿ and
Communicallon.
6.2.1 People: The Board recognises that 'getting the right people. and personal development
underpins everythi'ng that we do. Encouraging students into the industry iemaÉns a priority, and the
Tnjst's support for the Arkwright Tnjst Scholarship Scheme is being enhanced, Ihrough facilitating
study tours, visits to universities and manufacturers. Continuing engagement with students at the
undergraduate level is considered to be effective and good value for the relatively smal) amount of
rnoney direcled at this group, e.g. through sponsoring studentships, prizes and travel for individual
students or groups. Trustees will continue to monitor the quantity and quality of applications and
encourage other establishments to consider nominating students to apply for sponsorship, awards
and prizes. More publicity is Proposed for this annual 'open competition,, e.g. through AUC UK as
well &s lAgrE and social medi& The T￿￿t will continue to support travel, attendance at technical
events and training for CPD and to enhance the irnage of agncultural engineers in the UIL
6.2.2 TechnoloLy'. Trustees will continue to analyse and explore the 'horizon-scanning' research
within the framework of alternative economic, geo-political, technical 'scenarios' and potential
topics for prioritising future funding identified by commissioned research. This will help to inform
and th'rect allocation of up to s￿/0 of our available research funds to cost-effectivejpriority topics in
accordance with our new Strate8y. For 2024-26 the Trust will encourage proposals for research on
the following topics:
Technologies, control systems and strategies that directly improve the perfomw]ce of
sustainable wiculturaj production systems.
Approaches to improve use of energy sources in agricultural situations particularly in relation
to dimate change objectives.
Techniques for innovative food production in controlled conditions.
6.2.3 Collaboration: The Board recognises that collaboration is vital to deliver the support for
research and innovations needed to achieve the Trust's objectives. The growing inter&%t and
increased UK Govemment support for 'AgTi-Tech' in the face of climate change, the 'carbon
neutral, target and other challenges for farniing, food security (lu'ghlighted by the ongoing confiict
in Ukraine), are expected to create further opportunities for the Trust to engage with various
research and 'extension' organisations. Our conttibution will be enhanced in numerous ways,
incluth'ng..
11

THE DOUGLAS BOMFORD TRUST
REGISTERED NUMBER 06355202
RIPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
(i) Continuing to liaise with UK Agri-Tech Centre (established in 2024 after the merger of
Agri-EPI, CHAP and CIEL), other research centres and coordinators. as well &8 the
agricultural machinery sector in the UK to identify opportunities for collaboration.
(li) A closer relationship being developed with the Agricultutal Universities Council (AUC
UK), with one Trustee directly involved.
(iii) Our support for young stLKlents through the knkwright Engineering Scholarsm'p Scheme is
also being enhanced. by supporting a study tour.
(iv) Contact through ow Jubilee event and The Summit helped to rejuvenate links with
mmufacturers and the AEA and it is hoped this will lead to opporturuties for sponsored
Sludents to gain useful insight into the industy through technical visits and discussions with
company representatives.
(v) The Trust will also continue to strengthen our links with other th&itable organisations
operating in the agri-food sector, e.g. through active involvement in the AFCP, events and
joindy supporting projects.
6. 2.4 Communication: Trustees are mindful that the income available for funding arising from the
Trust's investments is relatively small compared to some other Charities, but our contribution is
becoming increasingly significant. CollaboTation is vital and The Trust will raise awareness of how
it can (and does) 'punch above its weight,, through various av&]ues. For example:
(i) The Jubilee event and Summit helped to publicise the important role of the Trust and
eslablished many new cross-sector and inter-disciplinary contacts. The list of contacts
generated from the invitees .to the Jubilee event will be used to further expand The Trust's
'sphere of influence., e.g. by circulating infonnation about future developments and
Opportunitie￿ to 'Friends of the Trust,, who will be encouraged to share the infonnation
within their network of contacts and to suggest anyone else who would Eike to become
a 'Friend'.
(li) The Summit held in November 2023 facilitated discussion directly with potential applicants.
other research/funding organisations and stakeholders on how best to implement our new
Strategy, and promote collaboration.
(iii) The Trust will continue to promote its role in publications and via social medi4 to engage
with leaders of the manufacturing, technical and academic research sectors. It is also hoped
the publicity ￿lSing from the events will also attract further donations, or other forn￿ of
support.
(iv) Social media (Linkedln and X (fornierly Twitter) has generated a core group of 'followers'
and will continue to be used io raise awareness of the Trust's activities, to infom 'alumni'
and others about sources of funthng, events for personal developrnent, and (post-graduate)
job opportunities.
7. ACKNOWLEDGEMENTS
On behalf of the beneficiaries of the Trust and the family of the late Douglas Bomford, the Chair
wishes to record their appreciation of the generous contribution of time and expertise provided by
individual Tn￿tees, the Secretary and Financial Administrator. without who the work of the Trust
could not be continue(L so successfully.
12

THED
GLAS BOMFORD TRUST
REGISTERED NUMBER 06355202
TRUSTEES, RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024
The trustees (who are also th'rectors of the Ch￿itable company for the purposes of Company Law)
are responsible for preparing the Trustees, Report 2nd the fmancial statements in accordance with
applicable law and United ￿'ngdoM Accounting Standards (United Kingdom Generally Ac£epted
Accounting Practice).
Company law requires the trustees to prepare financial statements for each fmancial year which
give a true 2nd fair view of the state of affairs of the charitable company and of the incoming
resources and applIc￿lon of TesouTces, including the income and expenditure. of the charitable
company for that period. In preparing those financial statements, the trustees are rquired to..
Select suitable accounting policies and then apply them consistently.
Observe the methods and principles in the Chatities SORP.
Make judgements and estimates that are reasonable and prudent.
Prepare the fu]ancial ststements on the going concern basis unless it is inappropriate to
presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable
accuracy at any time the financial position of the charitable company and enable them to ensure that
the financial statements comply with the Companies Act 2006. They are also Tesponsible for
safeguarding the assets of the charitable company and hence for taking reasonable steps for the
preva]tion and detection of fraud and other irregularities.
In so far as the trustees are aware..
there is no relevant infornlation of which the charitsble company's independent examiner is
unaware. and
the trustees have taken all steps that thffy ought to have iaken to make themselves aware of
any relevant infom]ation and to establish that the independtht examiner is aware of that
inf0m￿tion.
This report has been prepared in accordance with the Statement of Recommended Practice..
Accounting and Reporting by Charities (issued in January 2023) and in accordance with the special
provisions of Part 15 of the Companies Act 2006 relating to small entities.
The trustees also confinn that they have taken due regard to Charity Con)rnission guidance on
public benefit.
Approved by the trustees on 19 November 2024 and si￿]ed on its behalf by.,
ugust
CHAIRMAN OF T
19 November 2024
E BOARD OF TRUSTEES
13

THE DOUGLAS BOMFORD TRUST
REGISTERED NUMBER 06355202
TNnF.PENDENT EXAMINER'S REPORT TO THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
Independent examiner's report to the trustees of the Douglas Bomford Trust ('the Company,)
I report to the charity trustees on my examination of th¢ accounts of the Cornpany for the year
ended 31 March 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law)
you are responsible for the preparation of the accounts in accordance with the requirements of the
Companies Act 2006 ('the 2006 Act,).
Having satisfied myself that the accounts of the Company are not required to be audited under Part
16 of the 2006 Act and are eligible for independent examination, I report in respect of my
examination of your charity's accounts as carried out under section 145 of the Charities Act 2011
('the 2011 Act,). In carying out my examination I have followed the Directions given by the
Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my ¢xamination. I confirn] that no matters have come to my attention in
connection with the examination giving me cause to believe:
accounting records were not kept in respect of the Company as required by section 3 86 of the
2006 Act; or
the accounts do not accord with those records. or
the accounts do not comply with the accounting requirements of section 3 96 of the 2006 Act
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. or
the accounts have not been prepared in accordance with the methods and principles of the
Statement of Recommended Practice for accounting and reporting by charities (applicable to
harities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland {FRS 102)).
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.
Robert Brown
Institute of Chartered Accountants in England and Wales
Landers Accountants Ltd
38 Market Square
Toddington
Dunstable
Bedfordshire
LU5 6BS
19 November 2024
14

DOUGLAS BOMFORD TRUST
REGISTERED NUMBER 06355202
STATEMENT OF FINANCIAL ACTIVITIES
CORPORATING tNCOME AND EXPENDITURE
FOR THE YEAR ENDED 31 IVIARCH 2024
Unrestricted Restiicted
Funds
Funds
2024
21)24
Totsl
Funds
2024
Total
Funds
2023
Note
Incoming resources
Voluntary Income
Activities for generating funds
Investment income
Donations
164.457
4.105
164.457
4.105
156,196
180,534
Total incoming resources
168,562
168,562
336,730
Resources expended
Costs of g￿eratIng income
15,Ol5
Costs of charitable activitles:
Research programme
Travel scholarships
Studentships
Student support (ArkwrighVIAgrE)
Other award5 and donations
65.892
8,983
6,750
15,160
12,769
65,892
8,983
6,750.15
15,160
12,769
72,856
11,702
9,500
14,950
3,159
Total value of grants
109,554
109.554
112,167
Costs of grant making:
Governance costs
Total resources expended
28.944
28,944
21,914
153,513
153,513
149,154
Net incomins resources before other
recognised gains and losses
Realised gainsl(losses) on investment
assets
15.049
15,049
187,576
(137)
(137)
57,458
Net (expenditure)lincome for the year
Unrealised gainsl(losses) on
investment assets
14,912
507.711
14,912
507.711
245,034
(298.513)
Net movement in funds
Total funds brought forward
522,623
5,899,011
522,623
5,899,011
(53,479)
5.952.490
Total funds carried fonvard
6,421,634
6,421,634
5,899,011
The statement of financial activities includes all gains and losses reco￿lsed in the year.
All incorning resources and resources expended derÉve from continuing activities.
15

THE DOUGLAS BOMFORD TRUST
REGISTERED NUMBER 06355202
BALANCE SHEET
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Note
FIXED ASSETS
Investments
10
6,230.179
5.737.619
CURRENT ASSETS
Cash at bank and in hand
196,027
165,748
CRED￿oRs
Amounts falling due withm one year
11
Total assets less current liabilities
191
161392
NET ASSETS
Unrestricted funds
General funds
Revaluation reserve
4,643,023
1778611
4,420.548
1,478,463
TOTAL FUNDS
5899011
14
The company is entitled to trKemption from audit under Section 477 of the Companies Act 2006 for
the year ended 31 March 2024.
The members have not required the company to obtain an audit of its financial statements for the
year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for..
ensuring that the company keeps accounting records which comply with Sections 386 and
387 of the Companies Act 2006 and
preparing financial statements which give a true and fair view of the state of affairs of the
company as at the end of each financial year and of its profit or loss for each financial year
in accordance with the requirements of Sections 394 and 395 and which otherwise comply
with the requirements of the Companies Act 2006 relating to financial statements. so far as
applicable to the company.
b)
The financial statements have beffl prepared in accordance with the provisions of Part 15 of the
Companies Act 2006 relating to small companies.
The financial statements were approved and authorised for issue by the Board of T￿￿teeS on
19 Nove
signed on its behalf by..
N August
Chairn)an
D White
Secretary
16

THE DOUGLAS BOMFORD TRUST
REGTSTERED NUMBER 06355202
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
I. COMPANY STATUS
The charity is a private company, lirnited by guarantee, registered in England and Wales. The
members of the company are the trustees named on page l. In the event of the charity being wound
up, the liability in respect of the guarantee is limited to £1 per member of the charity. Its registered
office is The Bullock Building (Building 53), University Way, Cranfield, Bedfordshire, MK43 OGH.
2. ACCOUNTING POLICIES
The principal accounting policies are summarised below. The accounting policies have been applied
consistently throughout the year and in the preceding year.
Basis of accounting
The financial statements of the charitable company, whtch 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 l January 20 19), Financial Reporting Standard 102 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Cornpanies
Act 2006. The financial statements have been 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 function 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.
F ds Structure
The charity has a single funLt created on the fomiation of the Douglas Bomford Trust, by the
Bomford Family. The income of this trust is unrestricted, the terms of the fund allow the income
to be accumulated and the capital to be spent if the trustees so detern]ine.
On the cessation of the SRI, the tn￿t and the Institute forn]ed an agreement where the certain
assets were assigned and gifted to the trust. The objectives of the SRI were wider than the
previous trust's objectives, no specific requirement was made for the monies or proceeds to be
segregated from the ren￿Ining trust's capilal, therefore monies received from this source have
been included withi'n the unrestricted fund.
Filed assets
All fixed assets are initially recorded at cost. These are Capit￿ISed if they can be used for more
than one year, and cost at least £ 1,000.
17

THE DOUGLAS BOMFORD TRUST
REGISTERED NUMBER 06355202
NOTES TO THE FtNANCIAL STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024
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.
Current &sset investments are short tern] liquid inveslments and are held at fair value. These
consist of cash at bank and on deposit.
Debtors and creditors receivablelpAyable within one year
Debtors and creditors with no stated inlerest rate and receivable or payable within one year are
recorded at transaction price. Any losses arising from impairnlent are reco8nised in expenditure.
Recognition of incoming resources
AJI incoming resources are included in the statement of financial activities when the charity is
entitled to the income and the amount can be quantified with reasonable accuracy. The following
specific policies are applied to particular calegories of income..
Voluntary income is received by way donations and is included in full in the Statement of
Financi￿ Activities when receivable.
Investment income is included when receivable.
Members. subscriptions and fees received in advance are deferred to the period to which they
relate.
Resources expended
Expenditure is reCO￿lSed on an accruals basis as a liability is incurred, Expenditure includes any
V AT which unnot be fully recovered.
Costs of generating funds comprise the costs incurred in managing the charity's fixed asset
investments.
Charitable expenditure comprises those cosls incurred by the charity in the delivery of its
activities and services for its beneficiaries. It includes both costs that can be allocated th'rectly to
such activities and those costs of an indirect natute necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory
requirements of the charity and include the independent review fees and costs linked to the
stralegic management of the charity.
All costs are allocated between the expenditure categories of the Statement of Financial
Activities on a basis designed to retlect the use of the resource. Costs relating to a particular
aciivity are allocated directly, others are apportioned on a staff time basis.
Ir￿COver&bIe VAT
Itrecoverable VAT is charged against the category of resources expended for which it was
incurred.
18

THE DOUGLAS BOMFORD TRUST
EGISTERED NUMBER 06355202
TE
TO THE FtNANCIAL STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024
Grants and donations
Grants and donations are only included in the SOFA when the charity has unconditional
entitlement to the resources.
Gifts ID kind
Gifts in kind for use by the charity are included in the SOFA as incoming r&80urces when
revaluing.
Volunteer Help
The value of any voluntary help received is not included in the accounts but is described in the
trustees, annual report
Liability recogmition
Liabilities are reCO￿lsed as soon as there is a legal or constructive obligation committing the
charity to pay out resources.
Governance Costs
Governance costs include the preparation and examination of statutory accounts, the Costs of
trustee meetings and cost of any legal advice to truste&8 on governance or constitutional matters.
Grants wlth perfonnance conditlons
GTants awarded are reviewed periodically and are subject to the condition of each grant
demonstrating satisfactorily that they have progressed. As there is no condition outside of the
trust, no liability has been accrued for subsequent years.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a
basis consistent with the use of resources, e.g. allocating property costs by floor areas. or p
capit4 staff costs by the time spent and other costs by their usage.
19

THE DOUGLAS BOMFORD TRUST
EGISTERED NUMBER 06355202
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR EIYDED 31 MARCH 2024
3. INVESTMENT INCOME
2024
2023
Dividends & interest on investments
Inter¢st on cash deposits
159,590
4.867
155.448
748
4. INCOME FROM DONATIONS AND LEGACIES
2024
2023
Donations..
Audtey Lambden Estate
Tillett and Hague
Delta-T Devices
Private donation
145,825
30,000
509
105
Donations (including Gift Aid reliefj in both years consist entirely of cash amounts.
S. COSTS OF GEIYERATING INCOME
023
Costs of managing investments
6. TOTAL VALUE OF GRANTS
Purpose for which ￿antS made
Grants to
individuals Institutions
Total
un
Reseatch Progran]me
Travel Grants
Studentships
Student support (ArkwrightrlAgrE)
Other Awards and prizes
882
7,658
6,750
9.660
65,010
1,325
65,892
8,983
6,750
15.160
5.500
29,109
80.445
109,554
20

THE DOUGLAS BOMFORD TRUST
EGISTERED NUMBER 06355202
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
GRANTS MADE TO INSTITUTIONS
Total
amount of
grants paid
Names of Institutions
Purpose
Harper Adams University
Cranfield University
University of Gl&qgow
University of Hartpury
University of Lincoln
Smallpeice Foundation
IAgrE
Cranfield University
Cranfield University
Harper Adams Engineering
student
Earth Trust
Contribution to weather ststion
IAgrE
Commercial membership
AgriFood Charities Partnership MembersFll'P subscTiption/event
AgriEpi Centre
Subs 2024 QI and 2
University of Birmingham
Refund following student withdrawal
Postgraduate researd]
PoSt￿aduate research
Postgraduate research
Postgraduate research
Postgraduate research
Sponsorship of agritech student visitslstudy tour
Support for student membership scheme
Group project
Travel to conference
Sponsorship of US exchange trip
21,563
18,932
12,400
11.095
10,667
6.000
5,500
5,100
1,325
1.000
600
500
300
210
(14,747)
Total Grants to Institutions
80,445
7. ANALYSIS OF GOVERNANCE COSTS
2023
Marketing and publicity
General admi'nistration
Independent Examiners/Audit Fee
Strategy summiVTrust Anniversary event
6,462
14.730
4,572
3,180
28,944
408
13,839
4,356
3,311
21,914
21

E DOUGLAS BOMFORD TRUST
EGISTERED NUMBER 06355202
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
. STAFF COSTS AND EMOLUMENTS
The average number of employees during the year was Nil (2023: Nil).
No salaries or wages have been paid to employees, including the members of the con]mittee, dwing
the year. The Trust Secretaries were paid an Honoraria totaling £6.000 (2023: £6,000) in relation to
their services. The trust administrator is paid on a 5elf-employed basis.
No employees had emoluments in excess of £60,000.
9. NET INCOMING RESOURCES FOR THE YEAR
This is stated after charging..
2024
2023
Independent Examiner's fee
4,572
4.356
Fees were inclusive of VAT.
10. ANALYSIS OF MOVEMENTS OF INVESTMENTS
02
Carrying value (market value) I" April
Addiiions to investments at cost
Disposals at carrying value
Realised gains/(losses)
Unrealised gains/(losses)
Management fees deducted from portfolio
Income retained for reinvestment
Carrying value (market value) at 31 March
5,737,619
5,853,645
140,000
(137)
507,712
(15,015)
57.458
(298,513)
(15,072)
101
5.737,619
6,230,179
Historic cost at 31 March
nve5Éments are held in the followlng categorAes at Éhe year end
Inside
UK
Outside
UK
Tot
Propety funds
Listed equity shares
Fixed interest securities
C&gh and near c&sh
Other investments
233,182
233,182
980,146 4,173.396 5.153,542
460,422
46,456
506,878
168,414
168,414
168 163
168 163
2 010,327 4,219,852 6.230,179
22

THE DOUGLAS BOMFORD TRUST
REGISTERED NUMBER 06355202
NOTES TO THE FtNANCIAL STATEMENTS
FOR THE YEAR ENDED 31 I￿IARCH 2024
The investments held within portfolios are divided between three main investment firn￿. The
trustees consider there are no investments which are inth'vidually material to the portfolios,
perfornwice.
11. CREDITORS AND ACCRUALS
Amounts falling due
within one year
2024
2023
Accruals
4,572
4,572
4,356
4J56
Total
12. FINANCJAL U¥STRUMENTS
The carrying amounts of the charity's financial instruments are as follows..
2024
2023
Me&8ured at fair value through net incomejexpenditure:
Fixed asset listed investments (note l O)
6,230.179
5,737,619
Debt instruments measured at amortised cost..
- Short tenn deposits
196,027
165,748
Total 6,426,206
5,903,367
The income, expenses, net gains, and net losses attributable to the charity's financial instruments
are summarised as follows:
2024
2023
Income and expense
Financial assets measwed at fair value through net incomelexpenditure 148,168
140,374
Financial assets measured at amortised cost
(4,867)
748
Net gains and losses (including Changes In fair value)
Financial assets me&sured at fair value through net
income/ffApenditure
503,981
(241.055)
Total 647,282
(99,933)
23

THE DOUGLAS BOMFORD TRUST
REGISTERED NUMBER 06355202
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
13. RELATED PARTY TIL4NSACTIONS AND TRUSTEES) REMUNERATION
None of the trustees have been paid any remuneration or received any other benefits from
employment with the charity or a related entity £ NIL (2023: £ NIL).
14. MOVEMENT IN FUNDS
Unrestricted funds
At l April Incoming
Outgoing
2024
resources
resources
(inc gains) (inc losses)
Transfer
At31
March
2024
Revaluation fund
Ga]eral fund
Total unrestricted funds
1,478,463
4 420 548
300.148 1,778,611
300 148
4 643 023
67L) 866
157 243
Designated funds
The revaluation reserve fund is required by the Companies Act 2006 and represents the amount by
which the market value of investments exceed their historical cost.
15. FORWARD COMMITMENTS
The Trust has committed to funding ongoing research projects ending within the next flve years,
with the amounts committed Summ￿Sed in the table below.
Research
Projects
£123,930
£ 51,900
£ 56370
232 200
Within l year:
Between l and 2 years:
Between 2 and 5 years:
These grants are subject to perforniance related conditions, with biannual reviews. and will
therefore be recO￿1Zed in the SOFA once the conditions have been met. These commitments will
be funded out of investment income.
16. ULTIMATE COIYTROLLING PARTY
The charitable company is controlled by the Board of TnL8tees. Collectively these fonn the ultimate
controlling party.