THE MUSK-8URTON FAMILY TRUST
REpoirr AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2023
CHARITY NUMBEIi' 1127725

THE MUSK-BURTON FAMILY TRUST
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Contents
Page8
Report ofthe trustses
Independent audito¢s rep)rt
ststement of financial 8£tnriti8s
Balance sheet
Notes to the financial statements
10-15

THE MUSK-BURTON FAMILY TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2023
The Trustees present their annual report along with the avdtted financial statemènts of the charity for the y￿r
ended 31 March 2023. Tho financial statements have been prepared in accordanc6 ¥￿th accounting pol￿18$
set otrt on pages 10 and 11 and ¢omply with tho charity's trust deed and appI￿able la¥.
Reference & Admlnlstrative Dotails
The Ch#Tty.
The Pélusk-Burton Famity Trust
112772S
Charity Number..
AiJdre8S'.
Fourth Floor, Unit SB The Parklands, Boiton. BL6 4SD
CHARITY TRLISTEES
MrAndr&w John Bal
Mr8 Sarah Fa￿aY
AUDrroR
BadowAndrews LLP
Chartered Accountants and Statutory Auditor
Cartyle House
78 Chodey New Road
Bolton
BL14BY
PRINCIPAL BANKERS
Bardays Bank PLC
1 Chur¢hll Place
London E14 5HP
Tel.'1020741872000
Prwate Banker.. Robert Mclntyre
Execulivo.. Mitesh Mislry
Ptye1

THE MUSK4URTON FAMILY TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 IIARGH 2023
Trustees
Andrew Ball and Sarah Falvey seNed as TnJsteos throu9hout the year ended 31 March 2023.
Stru¢tur•, Govemance •nd Mana9om•nt
Govgrnlng document
The musk￿urt0n Famly Trust was registered with the Charity Commission in January 2￿9 under char
numter 1127725. It is governed by a deed of trust last updated in August 2019.
Organlsatlonal structure
The charity truste0$ are responsi￿e for the general control and management of the charity.
The trustees must hold at18asl hyo ordinary meetings each year and keep the minutes of the pr¢xeedings at
their meetings. In the minLrtes the trustees must reeord their decisions and. where appropriate, the Teasons for
those decisions.
A special meeting may b8 calkd at any time by the person elected to chair meetings of the trustees or by any
trustges.
R•cruStment and appointment of trustO•S
There must be at least twotrustee$. Apart from thefirsl trustee5. every trustee must ba appcinted by a resolution
of the trustees passed al a special meeting. In selecting indfvkluals for appointmfjnt as trustees, the twstees
have regard to the $kill8, kno￿edge and experience ne&Jed for the effectNe administration of the charty.
Foll¢)wing appointsment, new trustees are Introd￿ed to Ihgir new role and given copie8 of the trust deed and a
copy of the chaiily's lalesl report and statement of accounts. New tru81ees are al$0 m*Je aware of the scope
of their responsibilit￿6 und8r tho Charities Act.
Objectives and Activiti89
Ouralm8
The obieets of the charity are set out in the chadty's trL￿1 deed and are $umm8ris•J as follows:
11 the rel￿f of povety and need.
21 advancem@nl of education,
31 tho promotion of the con$orv*ion. protection and improvement of the physiGal and natural
environmerrt,
41 the relief of stckness and preservation of heamh.
51 advancement of ￿lIgIOn.
in all cases by the donation of funds to individuals or or9ani8ations vtho will use them exclu$rve￿ in ways which
fall withln the objects.
It should be highlighted that the charity doo$ not have key management petsonnel who receive omployment
benefits. 11 is the IN$tees who make th8 kay decisions in the tru81.
Prye2

THE MUSK4URTON FAMILY TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2023
Our objectlv08
Our ¢Jbj8ctNes are 50t to refie¢t the chaTIty's aim8. Each year the trustees r8Vi8w our obie¢tives and activitie5
io ensure they continue to refw our aims.
Actmtles and achlevements
How our activitlgs dellvèr publlc benefft
The Trustees sgek to provide funding for appropriate tharitable causes 8nd aim8 wh￿h aro in accordance with
the Charity's objectNes. Dufing the year, grants of£215,17612022'. £1,271,176) were made by the Trust¢e$ lo
other registered chafities.
As detailgd in note 10. the Trusle&s have commrtled to pay grants of £520,00012022: £760,000) in fvlure years.
The trustees patd due ward to guKlan¢o issued by the Charlty Ccffimi88¥)n in de¢iding what actlvtties the
charity should undertake.
Flnanclal Rgvlew
R8s•rv•s policy
The reseNes are being tr￿1d to fund the ongoing commitment lo the sekcted charities of the Trustees and to
ensure these are Capab￿ of being sustsined for the long term. As at 31 March 2023 the reserves stood at
£8.931.987 {2022.' £9.614,543>.
Princlpal fundlng sour¢es
The charity's main source of in¢c￿e is investment income generated from capital resources a¢¢umutated since
2009. The investment income from this portfolio generated ineome of £250,92712022.' £238,254) during the
year, a$ s¥en in note 2.
Investment pollcy and obJectlv8s
The Trustees $9gk to InvBst in a balanced ritsk portfolio to try and a¢hi8ve a level of return suffiGient to fund the
normal18vg1$ of charilabb donations in any on&year pefi¢xl.
Future Plans
The Trustees seek to attract fvther charltable fiJnd8 through giving. The Trustees will conlknue to con8idw all
requests for donations and will seek lo make donations for chartsble purposes that fvlly meet wrth the
Charity's aims and objoctives.
P*Jo 3

ThE MUSK4URTON FAMILY TRUST
TRLISTEES REPORT CONTDI.......
Siatemont of Trustees, responslbllities
Unrted Kingdom law applicable to chari1188 in EngLqnd & Wales requires the trustees to prepare ffinaneial
statements for each financial year which give a true and fair view of the stale of affairs of the chaty and of the
incoming resources and application of resources of the charrty for that perhjd. In preparing these financial
stalemenls, the tr￿te$S should fon(Y•V best p￿t￿e and..
select suitable accounting wlicies and then appty them consist6Tty:
make judgements and eslwnates that are reasonable and prudent,.
state whether opplicable actsjunting standards and statements of recorrfflended practic& have been
foll¢)wed', and
prepare the financial statements on the going concem basis unless il is inappropri*e to piesume that
the Charity will continue lo ts objectNes.
The trustees are ￿spOnSible for keeping proper accounting re￿rdS that disclose with ￿aSOnable aceuraty at
any the financial position of the chanty and which gnable them to ascertain its fina￿181 po$rtion and to
&nsure that the financial statements ￿Mp￿ with the Charrties Act 2011, the Charrty {Accounl$ and Report81
Regulations 2008 and the provlsions of the trust deed. They are also respon3ib18 for $af&guarding the assets
of the charity and hence for taking reasonable steps foi the prevention and deleclton of fraud and dher
1rreglrlarit￿.
So far as the trustees ar6 aware, thore is no relevant audf( infornation of vthich the Charty's audf(or are
unaware. Addilionalty, the trustees have taken all the necessary steps that they ought lo have taken as InJ$tees
In order lo make themsolves aware of all relevant audit infcimation and lo establish that the Charty's auditor
are aware of that Information.
The trustees have compl*d wth the duly in Section 4 of the 2006 Charitios Act to have due regard to guidance
published by the Charty Commis8fCfi.
Audltor
A resolution for the revappoinlmenl of Barfow Andrews LLP 18 to be prop)sed at the forthcoming Annual General
Meeting. The trustses recorr*nend that BarfowAndrew8 LLP remain in officè until furth•r notice.
Approval
This report wa5 apwoved by the trustees on 31 July 2024 an¢J signed on their behalf.
MrAJ Ball
Trustee
Trustee
Page 4

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF
THE MUSK-BURTON FAMILY TRUST
Oplnlon
ha￿ audhed ffingnual 8tatem8nts of The m￿Sk-BUrton Famlly TNBt lor the ye&r endeh 31 March 2023 wlMrJh
comprlse th8 $tstement of finanrA818ctMtiès, the balance sheet and the not&s to th& finanuol Stsle￿ts, induding a
summary ol significant accounting policw. Th& financial reporb.ng framèwork that has been applieLI in their preparation is
apP￿Cable law and United Kngdom Ac￿Untr.ng Stsndards. including Finanual Rewting Standard 102 The Financial
Rewrtlng Standard applKable in the UK andRYibl￿ gfirel8ndlUnited Kirgdc4n Gen8ralyAwted Accnuntw Piackn).
In our opinion, the finandal statsments..
glve a truè fair view of the state of thtr charity's 8ffaw¥ as at 31 March 2023 and of its irKoming rgsourw arKI
applicabon of resour￿$. forth& year thèn ènded.,
have been properly pr•parBd n OK0￿orKe￿1th United Kingdom G&neralty Ac¢Éptsd A￿oUnt1r￿J PractKe'. and
have baan p￿par￿d in accordan￿ wth the requlremanls ofthè CharTties Act 2011.
Bao1¥ for oplnlon
conducted our audit in accordan￿ Intemauonal Stsndard8 on Audibng IUKI IISAS IUKII and appllcabK• law. Our
sponsibiltyes under those stsndard5 are fUrt￿r desrrribed in the Audttorfs respons1bilrt￿S for Ihe audit of th8 finandal
$taterngnts section ol our r8wL Wa aro irKlependent of the charty In accordance with tha 8th￿1 requirgments that are
relevant to OUT audit of the finaneAal ststements in the UK, induding the FRC'S Ethical Stsndard, and VR have fvlfilkd our
other ethical responsibilities in acwrdance wtth these requir8monts. Wg b&li&wa that the audr( we have obtsin
is suffldenl and approwiats lo prowdg a basis for ouropinion.
Conclu81onB r•lAtlng to golng ¢on¢•m
In aud￿n9 the finBnci81 statements, ￿nc￿Jd￿I that the trustees, use ofthe golng ¢on¢em b8$L8 of ace<)untiro in
the preparntion of the fina￿81 staknentg is a￿rO￿late.
Based on the work we have performed, w8 have not klentif*d any material unc8rtainti•s relating to events or wnditions
that. indiwidually or colleclvsly, m8y ¢8$1 significant doubt on the charity's ability to conlnu8 as a going ¢ontsm fora period
of at least ￿￿¥8 months from when Ihe financaal stathents are authonsad ftsr issue.
Our respor*ibilthe8 and re8ponslbS1￿es ol trustae¥ wryth re8ped to going concem are describèd in Iha rel8vant section¥
ol thr& report.
Other Infornilllon
The other information tc4nprise5 Ihe infomiat'on induded in the annu81 r￿Ort, oth8r than the financkql staternants and our
auditol$ report th•roon. The trustg9s arg responsible for the olhor Inftsmat￿n contsin*l within the annual report Our
opinion on the finane4al statements doe8 not coverthe other Informathm artd, ex￿ptto the extentothewwiso explirity stated
in our rèport. we do not express any form of assufancg conclusion thereon.
Our ro$pon$ibility is to read the other infomation WKI, kn dolng so. consider whelher Oth￿ Ink)mi*tion is materially
incon5iStent wth thg financial staternents or our knowledga obtalnad In the uurse ol the audit, or otherwse appears to bè
materially mi$$tsted. If w8 Klentify such material incOn￿sten￿eS or apparent material misststements, afft r69uith to
deterynine Ythether this g￿￿S risÈ to a material misstatement Sn the financial stslements Ihemselves. If, based on the work
we have perfotrn¢d..we ¢onclud8 that theT6 a material mt%statement ol cth8r information, reqU￿red to ieport
that fact
Vve have nthing to rgport in this regard.
Pag8 5

INDEPENDENT AUDITOR'S REPORT TO THE TrUSTEES OF
THE MUSK4URTON FAMILY TRUST
(CONTINUED)
Matt•rn on whl¢h we are r•qulr•d to ￿Port by oxception
Wp have nothir@ to report in res￿￿ olthe ftsliowlw matters in relatiC￿ towhich Ihe Charths A¢t2011 requires ￿ to rgport
to you if, in our tpinion..
adequats accounting [P￿rdS havè not been kep( or ad•quat• for our audtt hth not b￿Tr reC4￿d from
bra￿•$ nat wsited by us.. or
the fin8n¢ial ststements are not in 8greementwith the accounhng r•eord$ and r8tums', or
the inforn)ation gfven in the trust66s' report is inconsistent in aTly material respgrA with the finanek?I statements., or
we have not le￿IVed dl the inforrnation aThJ 8xplanatKJns M r￿Ul￿ lor our aud
R￿POr￿1b11tla• of tru•t••8
As expkinad more in ststement ol trustee$, responsibilit￿s. tn￿te9¥ are responsibl¢ for the P￿Para￿On of
financial stalgrnents and for being satisfie(l that they give a true and f8ir vw. and lor such inlemal contrd as the trustogs
determine is ne￿$Sary to anab￿ the pr&paration of ffnanaal statsmènts Ihat are free rnatsriAI mi8Statemort whe￿r
due to fraud orerror.
In preparing finanThal stat8m•nis, Ihe trustees arg ra9pon5l￿e for asgessSng the c41arity's abfflty to continue as a going
con&8m. disdosing, as appli¢able, matters related to goiTrJ concern and usin9 the gcing concern basis of acLounb'ng Un￿$$
the Iru$tees either intènd to C8as8 opèrations, or have no rfroli8b"¢ ¥ltemabvo but to ¢Jo 80.
AudIt0￿# M¥pon•lblllti•¥ forthe •udSt of th• financlal slat•m•nts
Qurobjectives are to obtain reasonab￿ assuran￿ about ￿tr￿ther ts financ￿1 statements a$ a Who￿ are frae from material
mi5Statem8n( wh8th8r due to fraud or error. and to issua an auditorfs report that Indudes our opinh)n. Reasonab
assuranc* Is a high levd ol assurance. lyjt is not a guarantee that an audit conducted in a(tordancé wilh ISAS IUKI will
ah48ys detect a material rni88tsknent oxists. Misstataments ¢an arise frcrtn Iraud Or error and are eoMider8d
malgrial if. indfvklu811y or in the aggregate, they could reasonabty ￿ expected to influtrtrx the economt dgasions of users
tsken on the basis ofthese financkgl statsrnents.
Irregularibes. indudirrfj traud. are instances of non-¢ornpllan￿ wth18ws and ￿gUlationS. We desvjn Voc*du￿$ in fir￿ wi
ourrgsponsibilit'es, ouljined above, tod•tectmatsrial mksststèments in respectof irragulartss indudiNJ fraud. Ourapproach
tts ideThbfyirKJand 8$3es&ng risks cifmatsrial misstotam8rrt In Tespectof irregularitw. inc*Jding fraud and non￿￿p[lanc•
wrth lawg and regulations. was as folkn￿..
Ihe engagement pathr ensured that ts engag8mant tsam ¢clkntivaly had the appropriat• COM￿1•ne•,
capabilits.ès and Skills to idenllfy or recognise non-complianc8 Wth applieabL8 laws ond regulations,.
idènb.fièd the laws and règulats'on$ appficab18 to tho charity through diswssiorts with trustees aThJ other
m8nag8ment, and from our commercial knowledge and exp&ienee ofthe charity sector,
wg I￿u$ed on spaufic laws aNI regulations which we Cons￿8r@¢I may have a diract material effect on th8 finana81
statements or the operations of the tharity, induding th059 specific to the charity sector..
we assessed the extent of ts)mplian¢e wfth the law￿ 8n¢.re9ulations idenb.fièd above through making enquirie3 of
managernent and
KlenITr￿ laws and regulations w8r8 ctynmunicaiad within atyjlt team rogulaty and the team wmain&l alertto
Instanc8s of non-compliance Ihroughout tha Aud
We assessed the suscepb"brfity of the charity's finanL¥al ststement8 lo mattsrh?I misstatement. irKluding obtaining an
understanding of how fraud mKJht oceur. by.
making enquiri8s ofmanag8rnent as lo wharo they ¢cnsid8red thera wa8 suscepkn'bllty to fraud. theIrknO￿dge of
actual, suspec*ad and all8ged fra￿1,. and
considering the int*mal rA*ntrob in pla￿ to rn￿gate risks of fraud and non<0M￿l￿nCe with and rogulalions.
Pige 6

INDEPENDENT AUDrroR'S REpoFrr TO THE TRUSTEES OF
THE MUSK-8URTON FAMILY TRUST
(CONTINUED)
To •J¢treBS tho rfsk offra￿j through managementbias oNPr￿le of controlE, M4..
performed an￿Yb¢al proc•Jurps to IdenJfy any unusual or un8yctgd re￿￿onship.. and
tesbj joumal ontri85 b *4•ntrfy unusual trgnsa¢J
In rwnee to th• risk ol irregular￿￿ and nryKornpliancg ￿th la￿ ¥nd reg￿9￿On9. ￿ de8vJn&J procedurls
IndudgJ, but￿re Trjt Smtted to..
agreèlng fjn•nual slatement (*sdosur•8 to undwtyin9 supporuro do¢wnentabon" and
re8dlng Ihe minutes of M￿ting8 ofthca• charged g0voman￿. aNI
•nqulrfng tsfm8nagem￿t o¥ to arKJ potsntial lrfigation and dolm$.
Tharo ar¢ inherent limrt8tions In our a￿lIt woc*Juw dexribed 8bov8. Th• more ￿mov•d that la*% arKF legula￿rffj aro
from fiNP￿(la1 trarwctions, thè lik8￿ k Isthatw¥ would become 8wgw of nonwcornplianL)•. •ILKfilng ¥tsTrJardB al80 lim
the audit ptoEedurg8 Tequlred to Idèntify ￿n￿lIan￿ with lows and reg￿t￿n$ to a￿Ulry of the dirKM and other
managamont and the ins￿eti￿ of regulatory and I￿81 fft5pondenca, if8ny.
I1￿rfal Misstatem￿ that arise dufy to fraud can be ha￿TIO ¢etec4 than Ihose Ihat ¥ts• frvm error as thay may Invd¥o
deliberate con¢ealment or coll￿1￿n.
A lurlhèr descripbon of our wpcwibilities for the aLbJit of tho finafflcial stat•mwts i& locabj on tha Flnancial Remiig
Council's ￿bSitti aL Mvw.frc.oi .uklauditorsres
nsibililies. This de8cr*tion part of our aLKlltof$ rowt
ofour r•port
report is made so18ty to th• ¢harlty'$ tyus1￿. 88 a btr*, In accordgnce w6th Part 4 of the Chant1•8 (AC￿)urtts and
Rèptsrt81 RogulatloN 20)8. Ouf audrt work ha8 undertak•n 80 that mi?M stat• to th8 charity'$ trLkFtees thosg
mattgrs we are requir￿ b state to Ih8rn in an auditorfs report gnd for no other purpoga. To the ￿l￿st extent permitted ty
gw, we (lo or asswnè resp)n8iblty to anyone otherthan the and ts dwrity's InJ5t805 as a body. bjrour
#udit wo￿. for thés rèport, orfor th& cyrYoN8 we hav8 fonn•d.
AlS•on Cv•w•
S•nior Ststutory Auditor
For and on behall of Barfgw AndMv• LLP
Chartered A¢countants and St#tulory Audltor
Cartylo Hou￿, 78 Chovl•y Now R¢)ad. Bolton
31 July 2024
BarfowAndrewB LLP Is dglbb for appoinknent ag otyjitor oflhe charty by oflts ellglbilty lor arrintrnent a8 a￿11￿
of a company under section f212 ofths Companies AC*2￿.
Pa9è 7

THE MUSK-BURTON FAMILY TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2023
Totsl
Funds
2023
Totsl
Funds
2022
As rntstat•d
Income from:
Invesknents
Sundry in￿rne
250.927
238,255
Total income
250.927
238,817
Expendlture:
Costs of raBing funds..
Investsnent management costs
81.226
Exp8nditure on charilable a¢tlviti$s
253,767
1,314,328
Total •xpondlturg
309,635
1,375.554
Not oxpanditure before gains on Investments
(58,708)
(1.136.7371
Other recognls•d gal
{Losses)IGains on investment assets
(623,848)
379,461
Ngt mov•mont in funds
(682,556)
{757.276}
Fund balances at 1 Aprll 2022
9,614.543
10,371,819
Fund balances at 31 March 2023
8,931,987
9.614.543
The statement-of financial activities includes all gains and losses rewni$ed in.the year.
All income and expenditure derive5 from continuing a¢livities and relates to'unTestricled funds.
Page 8

ThE MUSK-BURTON FAMILY TRUST
BALANCE SHEET
FOR THE YEAR ENDED 31 MARCH 2023
2023
2022
Nolos
Fixod assets
Tangible assets
307,172
314,485
Current ass•ts
Inve$tment 888ets
9,157,397
10,075,818
9,157.397
10.075,818
Llabilities
Creditor5 falling due within one ygar
(312,582)
1295,7601
Not current ass8ts
8,844,815
9.780.058
Creditors falling dug after one year
(220,0001
1480.0001
Not a866ts
,931,987
9,614,543
The funds of th• chartty
Unrestricted funds
8,931.987
8.614.543
Totsl chartty funds
8,931.987
9,614.543
Approved by the board of trustees on 31 Juty 2024 and signed on their beham by..
MrAJ Ball
Trustee
Mfs Sar
Trustee
P¥J8 9

THE MVSK-BURTON FAMILY TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
STATEMEwf OF ACCOUNTING POUCIES
1.1 Th& Musk-Burton Family Trust is a charfty established undertrust deed. The principal Offi￿ is Regency
House. 4￿3 Chorloy Road, Bolton.
1.2 Basls of preparation of the financial $tst¥m￿ts
The ac¢ounts have been prepared in accordance with FRS 102 'Th8 Financral Reporting Standard
applicable in the UK and Republic of I￿land. C'FRS 102.} las amended for ac¢ounting periods
commencing from 1 January 20191. °Accounling and Reporting by Charities.. the Statement of
Recommgndgd Practi￿ for charities applying FRS 102., and the Charili8s Act. The charity is a Publle
Benefft Entity as defined by FRS 102.
The accounts are prepared in sterfing, which Is the functional currery of the charity. Monetary *rK*unts
in these finanaal $lalemenl8 are rounded lo the nearest £.
The finanGial statements have been prepared under the historical cost convention. Modffiod lo include
certain financial instrumerts at fair value. The principal aCcoun￿n9 p)1￿163 arè Set out t•low.
1.3 Prior p8riod error
A prior period adjustment has been undertakan to recognise grants payable in which the charity was
committed to in the pwous financial years.
A ¢Jetall¢d analysis of the 8dju8tment has been included in the financi81 statement8 as p8r note 12.
1.4 Going concem
At the time of approving the a￿unIs, the tmslee5 have a reason0bEe 8xpectati¢)n that the charty has
adequat8 resources to continuo in operational exlslence for the foreseeable future. Thus the tvu$tees
continue lo adopt the 90ing ￿ncern basis of accounting in preparing the accounts.
1.5 Charitable funds
Unre$tri¢ted fund3 represent a￿UMulated I￿orne less dI[￿t charitable and other expenditure. They
are expendable at the discreti?n of the trust885.
1.6 Ineome
Income is re￿gnISed when the eharity is legalty entitled to it after any yrform•rKe condf(icq)s have
been mel, th8 amounts can be measured rdiably. and rt Ss preèable th* incDm& will be received.
Donations are ac¢ounted for when recgNed by the charity and investment income Is recegniged in the
accounts at the ex4ividend date.
1.7 Expenditure
Expenditure is recognl8ed on an accruals basis.
Chari(able expgnditure comprfses thosg costs incurred by the charity in the delivery of its actiwties and
services for Its beneficiaries. It include5 both costs that can be alb)cated direclty to such actNitiès and
those costs of an intJiro¢t nature necessary to support them.
Grants payable are accounted for when the trustees have ac¢gPted a Lggal or moral obligation and
accounted for 88 ￿$oUr￿S expended in statement of financial actNili8s.
Govemance ¢o$ts include those co$1$ associated with meetlng the constsiutional and statutory
uirements of the charty and inGlude the audit fees and ¢ost$ linked to the Strateg￿ management of
the charty.
Value Added Tax is not r8coverabl• by the Charty and as such is Induded In thè relevant costs In thé
Statement of Finanelal Activities.
P•3è 10

THE MUSK-BURTON FAMILY TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
1.8 Tanglble flxed assets and depreclatlon
Tangible fixed assets are initialty meaSU￿d at cost and subsequently measured al cost or v8luation, nel
of depre￿atIOn and any impaimient lossps. Depreciation Is recogni8èJ so as to write off the cost or
valuation of assets less their residual valuas ovgr their useful Irves on Ihg fo11¢7•ving basis-
Buildings
- 2% $traighl line
The gain or loss arising on the disposal of an asset is delernin￿ as the drflerence be￿eTh the salè
proceed5 and the carrying value of thg osset, and is recognised in the statement of financial acti￿l￿s.
1.9 Impairniènt of flxed 4ssots
At each reporting Feriod end dal8, the charty reviews the carrying amounts of its tangible assets to
detemiine whether there is any indication that those assets hav& suffgrgd an impaimknl loss. If any
such indication e￿st8. the recoverable amount of the asset is esllmaled in ￿der to deteminè the 8xtenl
of the impainnent108s Irf any).
1.10 Investment$
Inveslm8nts are initialty mea$urgd at transaction price and are subsequentty measured at fair value al
each reporting date. Market valug is used as a representation of fair value. Changes In fair value are
recogni8ed in the stslement of finanaal actNitles snd transadion costs are expense$ as incurred.
1.11 Cash and cash equivalents
Cash and ¢ash equivalents include ¢a$h in hand and deposits held at call within investment portfclos.
1.12 Financial instruments
The charty has eknted lo appty the provisions of Section 11 'BaS￿ Financial Instnrnents, and Section
12'01her Financial In8trum&nls Issues, of FRS 102 to all of ils financial instruments.
Financial instruments are recognised in the ¢harW$ balance sheet ￿en the charty becomes party to
the contractual provi$p)n$ of the instrument.
Financial assets and liabilities are offset. with the nel amounts presented in the flnancial statements,
when Ihere 5$ a legally enforceable right to sel off the T￿gnised arnounts and there is an intention to
8ettb on a net basis or lo realise tha asset and settle the Itability s1mu1tanwus￿.
Bask flnanclal assets
Basic financial assets. which include ¢a$h and bank balances. are measured at transaetion prite.
including transaction costs.
""Otlie" r financial assets
Financial assets classffied as other financial assets ar& stated at fair value with any galns or losses
arising on rèmeasurement recognised in the sL3tement of financial activf(ies.
FinarKial assets ar8 derecognised onty when the contractual rights lo the cash fl¢)ws from the asset
gxpire or are seltled, or wh8n the charity transfers the finanaal asset and substanlialty all the risks and
rewards ofownarship to anotherentty. or ifsome signrfi¢ant risks and rewards of ownership are retained
but control of the asset has transferred to another party thal is able lo sell the asset in its enlirety lo an
unrelated third paty.
Baslc flnanclal Ilabilltles
Basic financlal Ilabllities, which include olher creditors. $re recognk8ed at transactlon price.
Pège11

THE MUSK.8URTON FAMILY TRUST
NOTES TO THE FINANCIAL STATEMEfrirs
FOR THE YEAR ENDED 31 MARCH 2023
TOTAL
FUNDS
2023
TOTAL
FUNDS
2022
2. INVESTMEiif INCOME
Interest receNed and Similar income-
Dividends and other income received
Sundry inco
250,927
238.254
562
250.927
238,817
TOTAL
FUNDS
TOTAL
FUNDS
3. EXPENDITURE ON CHARrrABLE ACTivmES
2023
2022
Donation8 made..
SAT-7 UK
Claire House Chiljren's Hospice
Cross Roads, Derbyshire
Mi8s￿nS
Macmillan Cancer Research
St Luke's {Cheshirel Hospi¢e
Ray of Hope Amazon
MKldle East Media
Compassion UK
NSPCC
RISE
Chrisllan Solldarity Worfdwide
24,000
100.800
23,000
100,800
25,000
3.000
300.OC(I
S00,OCK)
10.000
12.000
376
3,000
10,000
17.000
376
60,000
180.0
123,0
215,176
1,277,176
Propety Insurance
ForewJn exchange IgainlfftJs$
ountsncy fees
Depreciati¢Jn
Sundry Expenses
451
11581
18.346
7,313
18.266
7,313
652
241.407
1,303,128
Gov8rnant• ¢osts
Audit
Trusteè fee$
5,160
7,200
4,000
7,200
12,360
11,200
Total charitable expendlture
2S3,767
1.314.328
Page 12

THE MUSK4uirfoN FAMILY TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 PélARCH 2023
4. TRUSTEE8
During the year the Trust paKI £7,200 of fees to Mrs S Faw, a Iruslee, for herwork on behatf of the
charity. The Trust has also paid £18.266 offees to C¢iwgill Holloway LLP in whith trustoe Mr A J Ball
1$ a Partner. for acctsJntanGy services durlng the year. No Iruslee expenses were incurred during the
year to 31 March 2023.
Land and
bulldln98
5. FIXED ASSETS
Cost
At 1 Apr￿ 2022 at 31 March 21Y23
365,676
Depr¢clation
At 1 April 2022
Deprèciation charged in the year
At 31 Mareh 2023
51.191
7,313
58,504
Carrylng amount
At 31 March 2023
307,172
At 1 April 2022
314,485
6. INVESTMENT ASSETS
All investmonts are managed by Barclays Investmènt Solut￿ns Limited and as at 31 MarGh 2023 the
valuation of the investment portfolio was as b810w'.
UK
2023
Non41K
2023
Total
2023
Totsl
2022
A8$0ts
Investment valued by referen¢& to a
recogni8ed stock exchange
Investments in strategic property fund
2,668,314 5,505,328 8,173,642 9,023,777
556,510
556,510
668,685
3,224,824 5.505,328 8,730,-152- 9.692,462
Cash held a$ part of the invesknent portfolio
427.245
427,245
383,358
3,fj52.069 5,505,328 9,157,397 10,07S,816
Analysls of Movoment of Investments Assets
2023
2022
Carying value {market value} al beginning of period
Additions to in￿$￿￿ents at cost
Disposal proceed$
Nel IL088IIGaln
9,692,462
1,692.036
12,030.4981
(623.8481
9,527,673
1.207.298
11,421.9701
379.461
Carying value {market value) al end of period
8,730,152
9.692.462
P898 13

THE MUSK4URTON FAMILY TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 PMRCH 2023
HNANCIAL INSTRUMENTS
2023
2022
The fair value of financial Investrnénts ha8 been estimated using the foll￿Ong falr value
h*rarchy.
Valuation tschnlque us•d
Level 1
Level 2
Level 3
2.248,893
6.481,259
2,245.388
7,447.074
8,730,152
9.692.462
The intention of a fair value me88ur8ment is to esllm*e the price at Nthich an asset coukl be
8xchanged in the market conditions p￿Valling at the measurement dale. The measurement
assumes the 9￿hange 18 an orderty transaction {that is, rt 18 not a forced transaction. Inve4untary
IK4uidation or distress sale) between kncwledgeable. willing Part￿1PanIS on an independenl bas1S.
The puwe of the faSr value hierarchy is to priorittse the inputs thal should be used to measure
the fair value of assets. The highest priortty gfven to quoted prices at Wh)￿h a tran$aclicfi can be
entar8d into and the lowest prionty to unobseNable inputs.
In accordance vAlh FRS102, the trustees classify fair value mga$uremenl under ts following
vels:
Level 1- Th? unadjusted qutxed price in an actlve market for an identic21 in$trumenL
Level 2-Valuatbn techniquas using obseNabb inputs other than quoted price8 wkhln16¥al 1.
Level 3-Valuatlon le¢hnKiues using Un0￿er¥ab[e Inputs.
2023
2022
As reststed
CREDITORS: •mounts falllng due within ona y•ar
AccruaS5
Grants payable
12,582
300,000
15,760
280,000
312.582
295.760
2023
2022
As ro$tated
CREDITORS: am¢unts falllng after ono year
Grants payable
220,000
480,￿0
è14

THE MUSK.BURTON FAMILY TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
2023
2022
As rg$t)ted
10. coTrifRACTUAL AND OTHER COMMITMENTS
A8 at 1 April 2022
New commilm8nts
Payments made
760,000
80,000
1300,000}
20,000
1.025.000
1285.000>
As al 31 Ptharch 2023
520,000
760.000
Falling due wi(hin one year Inole 8)
Falling due after more than one year (note 91
300,OIX)
220,01)0
280.000
480.000
520,000
760.000
11. EMPLOYEES
There were no employees ofthe Charity in the year er￿ 31 March 2023 {2022.' NIL>.
12. PRIOR PERIOD ERROR
Recon¢ili*tion ol changes In net funds
Noto¥
1 Aprll
2021
31 March
2022
Adjustments to prfor y•ar
Total adjustment$
Funds as previousty reported
(20,0001
10.391,819
1760,0001
10.374,543
Funds as adjusted
10.371,819
9,614,543
R¢¢onciliatlon of net movement in lunds for tho prnvlou8 flnancial perlod
Notss
2022
Adju$lrnents to prlor yèar
Total adjustments
Net Move￿Ent in funds a8 pr￿oU8￿ stated
- (740,0001
(17,2761
Net mOV￿￿nt in funds as adjusted
(757,2761
1. Following a review of the prior year finarlcial statements, an adjUSt￿nt has been identrlied in regards lo
the recognrtK>n of grants payab￿. Expenditure was undetslaled by £740,000. creditors less than one year
were under¥tsled by £280.000 and eredilors more than one year were underststed by £480,000.
Itwas also noted Ihat£20,000 of grants payable should have been recognised in the yearending 31 March
2021. This has been amended in the financial statements lo decrease funds brought forward as at 1 April
2021 by £20,000.
Pag¢ 15