MARKET HARBOROUGH AND THE BOWDENS CHARITY
(A Charhable Incorporated OrgaMlsatAon)
ANNUAL REPORT AND FINANCIAL STATEMEPITS
YEAR 31 D￿c￿mBER 2024
Charity Reglstered Number 1157787

MARKET HARBOROUGH AND THE BOWDENS CHARrrY
REPORT AND F￿ANCIAL STATEmEr￿s
YLI AR KIYDED 31 DECEMIIER 2024
coiYrETrITS
Pa8e8
R¢port of tkn 1'n￿tea8
Ito8
Indep¢lld¢nt AudltOf'8 R¢p
9toll
ststOn￿ttt of FiTwicialAGtivities
12
BalalleL Sheet
13
Statement oECE8h nows
Note4 to tk¢ FyJwn¢ial Stst£￿ents
15to32

MARKET HARBOROUGHAIYD THE BOWDENS CHARITY
RRPORT OFTHE TRUSYEES
FOR THE YEAR ENDXD 31 DKCKMBER 2024
Tho Trustees pr&gent thelr report along wlth the fjnancial statemwth of Mark¢t Harb)Tough and Th¢ Bowd¢ns
Charity. ("the Ch￿lty,) for the year ended 31 DecemlKr 2024. The financlal stAtements have been prepared in
a¢c<)rdance withthe a¢countill8 ￿lIcIeS$et0ut lftnote I to the tltwiolal ¥latem¢nts and ￿mplY with th¢ Charlty's
Constiti]tion, the chariti￿ Act 2011 and Accounting and Re￿rtIng by Charities,. Statement of Recommended
Praotice appll¢abl¢ to tharitlcs pr¢poring th¢ir ac4ounts in accordance with the Flnanoi&l Rq)ortlng Standard
pplic&ble in the UK Republic of Irel4nd (FRS 102) iswod in Ootob¢r 2019 ("SORP (FK8 102)J.
REFERENCEAP4D ADMINISTRATIVE DETAII3
Charity Name
Marknt HwEKswu8h and TheBowd¥DS Cbarlty
Chortty Regi8lYatlon Number
1157787
StatV8:
CharAtable Incorporat￿ Or8anisatlort
Prlnelp¥41 OffleeAddn58
10, Fairfield Ro￿, Market Harbomugls Leic¢8tershir¢, LE16 9QQ
The menthers of the Board of TnTSte¢s who served durlng the ye4r at the
date ofthis re￿rt are as follow8:
AppolAted Truthei:
MrB S Berridge
Mrs J Ba]ll
btr G Buxton
hdr5 R Corfield
Mrs C Davies
Mr J Feavyour QPM
Mr E Gi'efjn
Dr S Hill
Prof. WJon¢g
Mr G Kellle
Mrs L Kvatch
Mr8 K Mwweathor
MrA Waiters
D￿¢8Sed 3 Au8UYt 2025
Resigned 26August2025
No]lliDAted:
Ms B Elllott
Mr J Rlohard80n
To 9 October 2024
From 9 O¢tob¢r 2024
Ch4rlty Secretsry
Mr8 W Hempson
A¢¢ountants andAudltOTS
Edward Thomas Peirson & Sons. 21. The Polrt Rocklngham Road,
Markct HarbOrOu￿ Lelc¢sterthire, LE16 7NU
BHW SollGItOTS. I Sn]lth Way. Lelce4ter LE19 ISX
Sollcltors
BAnk
HSBC plc, 15 High 8treeÈ k&4rket H4rborou8b, L¢l¢¢stershir4 LE16 7NN
InYestm¢llt MAnagers
Mercer LLC, Gl Bulld1￿ 5 George Squar4 Glasgow. G2 IAR
LRndAgents
Fiyher Gernwll LLP, Jntwvatlon Hous4 W¢lland Busin￿ Park, Valky Way,
MarkeÈHarborough, Lelcestershire, LE16 7PS
Page I

MARKET HARBOROUGH AND IHE BOWDENS CHARITY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
OBJECTtVES AND ACTIVITIES
ObJectlves
The Charity's area of benefit is the 'Urb8n area of Leieeslershire centred on Market H8rborough, Great Bowden
and Little Bowden.
In summary* the objects of the Charity as set out in its constitution, are:
Such charitable purposes for the general benefit of the inhabitants of the ar¢a of benefit as the Trustees
think fit for which provision is not made out of rate5, taxes or other public funds.
2. Th¢ relief either generally or individually of r¢sidenls in the ar¢a of benefit who are in conditions ofneed,
hardship or distress, but not directly in relicf of rates, taxes or other public fullds. This is referred to in
the objects as "Relief in Need". In exceptional circumstsnces the Trustees may grant relief to individuals
otherwise eligibl¢ who are resident immediately outside the area ofb¢nefit'
Education- the provision of financial help to enable suitable applicants over the age of16 and resident
in the area of benefitto undertake programmes of study in further or higher educalioll, or training towards
a vocational qualifi¢ation. which they would oth¢rwise be less able lo afford. and
4. The maintenance and repair of the fabric of the Parish Church of the eccle5ia5tical parish of St. Peter and
St. Paul, Great Bowden. The amount applied in this respect is restricted to 20Yo of the Charity's income
in any three-year period.
Befor¢ applying the income of the Charity in support of these objects the Trustees must first defrdy the costs of
maintaining the Charity's prop¢rty (including that held on trust by the Charity) and the ¢osts. charges and expenses
of administering the Charity.
Activities
The Charity's principal activity is grant making for the general benefit of the public, relief-in-need payments to
individuals largely reftrred to th¢ Charity by w¢lfare 8gen¢ie$. and ¢ducational grants predominantly to
prospective undergraduateg.
GraDts ar¢ also awarded, in cousultstion with thc Parochial Church Council, as aud when required towards the
tnaintenance and repair of th¢ fabric of thc Parish Church of thc ¢ccl¢siastical parish of St. Peter and St. Paul,
Great Bowden.
Outside of direct grant provisio￿ tbe Charity has fourteen fully serviced flats. two local allotment siles an
protects and enbances the ecological value of a Site of Special Scientific Interest on land that is held within it5
InVest￿ent propety Portfolio.
Fillally> the Charity has since 2005 owned a 17 Century building known as the Old Gra[D￿aT School - Grade I
listed building in Market Harborougb of histori¢al. cultural and arc]Jitectllral importance. The Undercroft i5
available for renL while tbe upstairs ￿nCtiOn room continues to be used a8 a temporary office for the Charity.
Grant IVIAking Policy
Applications for grants are made through the Charity's website www.mhbchari
-co.uk with cach application
considered by a ¢otnmittee oftNslecs for probity, fit with thc Charity's constitution and availability of budget.
The 2024-25 Strategy was adoptcd in August 2024, with the following priorities:
Incrcasing emphasis on environmental, social and governance (ESG) policy
Engaging With other local Charities and voluntary organi5ations
Scoring of grant applications against public benefit. ESG, long-terni problem solving and partncrship.
Developing proactive p12ns for th¢ Charity's local land and buildings
Grant making retllain5 largely unchanged, but the trustees are seeking to tllake rnOTe proactive use of its local
assets for greater public benefit.
Page 2

MARKET HARBOROUGH AND THEI BOWDENS CHARITY
REPORT OF THE TRUSTEES
IIOR THK YEAR EiYDED 31 DECEMBER 2024
OBJECTIVESANDACTIVITIES (eoDlthlled)
Voluttteer&
In ￿￿etIll8 t&e8e aims, each of the Th￿tee3 provides the Charlty wlth mw houTS of serviceon a voluntary basi8,
and the Ch8rfty hai no requlrement for volunteers out8lde of the trwte¢ body. No finan¢ial va]u¢ is ottrlbuted to
thi8 voluntary work In the financial statwents.
Pub]le benelfit
ThOTruSte￿ ¢onfwm that they have complied with their duty to have due regard to the g￿ldance pub115hed by tbe
Cherlty Ctsmmlsslon on publlc beneflt when revlewlng the Charity's ain)s and objectives, in plaJ]ning future
actiyitlu and in setting the grgrtt maklng ]xTrli¢y forthe ye4r.
ACHIKVKMKNTS AND PERFORMANCE
An Away DAY held in Janu&ry 2024 for trustees and stsff, and trustecs fron] Howard Watson Symington
Memorlej, from whlch tt clear that Truste¢s wer¢ ke¢n to mor¢ proartiv¢ly ¢xplor¢ th¢ options availabl¢ for
th¢ Chwity's local assets, and to make climats change an Integral part of what the Charlty does. Tru&teeB wonted
to rem&in tn￿ to the or[￿aI benefacto￿. aspiration4 to rai8e the Churity's profde and to reach more ￿Ople in
fte￿, Two major Initlatives were lau1￿h¢d in 2024:
In Ootolxr 2024 the Clmrtty submltted a bid to L¢i(¥stershire County Counoll (LCQ to buy th¢ former Roman
Way Cojnmunlty Centre In Market Harborougb. Thts vast proFerty w&s pul on the market by LxiceBtershlre
Council, and bid8 w¢r¢ invtt¢d. The Charity Tec¢iv¢d 61 re5POn8e8 to the questionnair¢ it 8ent oul in
Sq)tunber 2024, d¢monstrating very strong local ¢ngagem¢nt and genuknes need and enthuslasm for & lo(xl
community hub foT charitles voluntgry groups. In Dewnb¢r 2024, Ihste¢s were disryointed to lem that
the Cl]arily's bld had beon unsuc¢e68th1, butthw havtrremaln￿ commhtsdtothe vlsionof creathlg & communlty
hub within th¢ of B¢nefJt, b￿¢ oontinu¢d to explo￿ other potential Venu￿ and h￿e vlslted a
community c¢ntr¢ In Loughborough to expand thelr understonding of how a cOmmu￿ty hub could work In
prad1￿ ben¢fitth¢Area of Benofit,
8ecoJMlly> the Bnvironmentsl Comtt)lttee, ￿liShed to inform th¢ Charity's olim&t¢ crisls polioy and hctlon8,
begon researching the p055ibility of Creating u n8lure re3¢rY¢ OJ its land #t G&llow LAKlg¢ Fwm. Following a
biodlverslly survey its associated report, Th￿¢& learned that the land had the potelltlal to generate a
yigllifi¢&tstty impoitant income from the sal¢ of 30-y¢ar biodivernity credits. At the same time, & publioty
ac¢*88lble nature reserve cr)uld bo tteated on tkn land forresldents oftheAre& ofBonefitto ethjoy for many years
to come, with bett¢fit8 to l)othth¢ ¢4Lvironm¢nt to Midents, m¢ntal and phy51oal w¢llbelng.
FIowBrd Watson Symington Memori81 Charity (HWSMC) andthe Charlty have CA)ntitllnl to attendjolnt n*things
wlth the obJ¢ctlv¢ of l¢aming from ¢ath other and rnaximising benefit to beneficiaries. A part-time administrator
forHWSMC hasbeen employd by the Cknlty. b&8ed in the (Jwily's offi¢4 and financed by HWSMC. Thiyhas
led to Increas￿ ¢ooperatlon and learnlng between th¢ ¢hariti&g.
Grant makin8 hay contlnued and iyhi8bU8hted bvlow.
Inslltllllollal Grants
Paymonts of 8rants to iDstitutiony in the fjnun¢lal Ye￿ amount￿ to £187,136 and £9.068 MPS refjjnd￿ by
institrtion8 SUPPQrted in prevlous year8 where the grants dld not meet the ellgibllity critsrl& or Iwe no longer
requirod.
A large grant to Markot Harborough Squash, Cricket and Padel Club ￿vered repalTS to the squash ￿TrUrt mof,
renovation of the obanging room8 and the lllstaltat'ion of an acousiic fence to enable evening play on the club'a
padel cowts.
Page 3

MARKET HAR￿ORoUGHA￿D THE BOWDENS CHARITY
REPORT OF THK TRUSTJ£KS
FOR THR YKAR KNDKD 31 DECEMBER 202A
Inslttutional Crants (continued)
The large4t paid in the y¢ar wer¢ as follows:
Market Harlx)rough Squash, Crl(*et & P&del C]ub repalr81improvements
Voluntary Action South L¢io¢stthire- operatiollal costs
Harborou8h Town Football Club- tED floodlightiug & solw paTKIs
Market Harbomugh PCC- St Dionysius Church tower & clock repair
Home Start South Lelcester8hire- Fumily kllowAhow proiert
Littl¢ Bowd¢n Bowls Club- solar panels
HCYC- Youllg Cater Group op¢rational Lxbsts
13,800
£43,330
7,963
£20,000
£10,000
£9,500
£7,500
A fillthei, grant of ￿0,000 wa8 also made to Home4t4rt South Lelcester5hire in early 2025 to wntinu¢ to help
rund their husely imp)rtaLt work with very vulnerable young Iwal familie3.
The Charlty wlshes to enCO￿age musicl&Ds artdto prnmotsthe art8 for all 8Bes, and In 2024 It provlded Creative
14artx)J¥)ugh with a PRS limi￿ and made th¢ Undeuroft of the Old Grdrnmllr SGhiM)l &vllilable for buskiu&
onc¢rt& and other p￿.for￿￿1C¢S. Petform8nces begaa InNovembw 2024 wlll ￿ntInue throaglLoW 2025.
Rellef In Need
All applications for Indiviilvai 98sistanL% are treatsdin LX)mplete confidence.
During 2024, the Charity continued its SLWPOrt for people In need. AÉotal of 33 applio8rts (2023: 54) we
8upport¢d, and tho Charlty wa8 abl¢ to provido grants for varA¢ty of now ho￿Se1￿)Id itsm8 ltteludlng carpets,
filrnltw white good& plus eognltlve behavlour ther9py for a eMld attd a specimitst mobility pushchair.
EducRtion
All appllcatlons for an Educatlon grant aretrcated in complete ￿nfidell¢
Th¢ Charity o)ntit)ued its supp)rt of enyone wanting to take vocationaL and hlghet eduo&tlon o)ur8es. A
total of 83 (2023: 108) &wards were m&de. All candidate8 were Itthrviewed prfor to & grant offer being mad
Th1sk£3 believe that 3uth a proce55 properly infor￿3 their con3i(kration, a8 ￿￿11 as knit)8 ￿ell¢nt experienoe
for th¢ candidat¢s. The TrUStV￿ kave also tyoactively ¢ngaged wlth local sohools to forfftulate an tujprooch to
thos¢ pupi15 most in need of the Charity'8 ￿81sta￿l¥. Educotion gr￿ts 8re notre5trioted ts) young p￿pIe.
Allotmellts
Th¢ tw ￿lOts￿lent fi¢lds have continuedto bev¢ry popular and w¢llmallag￿, Any)ng¥t otheT maintejkallcewo
the two [￿d4 have been dredged to improve aDd mall￿tt them a8 open water for wlldllfe.
Slte ofspeelal Sciejrtlftle Illterejt
Th¢re18 a SItB of Special SclentiflcIntere8t {'%ssry on part of th¢ fRrmland omaned by th¢ Charity fot
inveslmentpwpises.
Chvrnh of St. P¢tsr & St. Palll Great Bowden
The ch￿lty contltmesto be re$wlble for the fAbrlc ofthe Ckurchof SL Peter alld St. Paul Gr&tt Bowden.
The Okl Gra￿￿ar Sehool
In 2024, a structur81 surv¢y of the Old (Irammar School revealed darnage to the entrance, ￿10h 18 awaitingrep&ir
by I£l￿st￿r8bir¢ County Council. Obi¢cts found durlllg tb¢ renovatiort irt 2015 were donated to Harborou8b
muse￿ on condltion that they oould be108tted b&ck to the Cjwlty, if ever needed.
Trust¢tt? have wntinued to explore po*)Jti#i of th# building and publlL aLL'e¥s to it, whith the Charity wishe8
to ¢nable in the futur¢, oncethe Charity's 0￿1¢¢ relocated from th¢ Old Grammar School to 8 more pel'nM￿￿t
Page4

MAlU￿T HARBOROUGHAND BOWDENS CHAiurY
RI£PORT OF THK YRUSTKJIS
FOR THK YEAR KNDKD 31 DECEMBER 2024
ACIIIEVEMENTS AM) PERFORMANCE {eontillue41)
Other propertles and land
scotland End Flth~ m&nagement ofthe tJats was entirely outsourced in 2024, a positive move whlob
reduced tho administrative burden on the Chwity's office. Trwtees took the decision to h4ve the fl8ts
Irflll'bished let ¢o))Jmer¢lally 08 and when th¢y be¢am¢ vae4nl. To dat¢, 50% ofthe flats are llow let
)rnmerolally and the ItiC￿Sed Income wlll ci)ver the LX)St of refurblshment wlthin E4 two-year perlod.
Fornier almshouse residents will continue to be welcome to remaln in tbeir supported accommodation
d on the S￿e tern18 as before, for as long ￿ they Are c￿&ble of independent living.
In July 2024, F&l¢on Support SeTvi¢e8 g8v¢ noti￿ and th¢ l¢a30 of10, Fairfi¢ld lioad wa3 trauSfe￿ed trj
Be*con C8￿ & Advice ut 8 peppereorn rent (excluding utllides) &s part of the Cbarlty'8 provision of
charitsbl¢ pun￿3￿. Beaoon Care & Advlce h8ve continued to provide advi¢e 8nd supwrt the
proporty to anyone In Theed, plus a wellkning ¢afé.
The leas¢ for 53-55 High Street, MarketHarborough, has been extended to the end of 2025. Its renewal
in 2026 18 llot anticipated, TnL8t¢es have Continu￿ to explore its tK)tsntial development, and us¢ by
the Charity. Such o development would be part of improvements to tILe endowment Df the CIO
and would pmperly be fimded from thepernianent endowment with the consequentreduction of income.
In ¢aTly 2024, th¢ tre¢s ix)Nl¢riug Th¢ Folly Pond in Mark¢t Hthorough w¢r¢ out b8ck in Iln¢ with 8
Tree Safety Rèport qnd new fencing was itistalle(L to i￿prove the site ond ensure the public'8 thy.
Lei¢agter Road Paddocks - fcncing has Iwi instslled to prevent fly grazlng. and the possThi iltty of
planting tre¢s on both paddook5 Is being explored.
VINANCIAL14]GVIEW
Rev1￿ of rlsk8
Fw. mally yearjtho Charity's Inoom¢ hgs IKen well in exoa89 ofils requltemelle to cover operational exp￿e￿ 8ttd
core gtant gfvlng. In 2023, the Charity moved of ail its Inveslmetrt endowment to Mercer and adopted art
irlyesttnent 8tsTrtegy to provid¢ for pr£8ent and future benefioiarie8 Ivith 4ppropriate diversifL(Btion to avoid
unrtecessgry risk8.
Income Sincc the move to Mercer has fallen below that wect¢¢ although groM¢h h&8 been v¢ry strong the
valu¢ of the Charity's Inv¢&tm¢nts have in¢r¢g8ed by over £1 milllon.
In 2024, began exploring the po&8ible benefits of moving to the Total Return methodology, This would
Ilow th¢ Charlty to spend auy inCr¢￿e to th¢ ¢ndowm¢nt buf would make it subjeot to the va8ari¢s of th¢ sto¢k
rn￿ket. The Finance Commlttee will continlle to research the pros and cot]s of Thtal Return, including measure8
t4kellby otlw ¢hariti¢8 to prot¢ct them8¢lves from uncertainty, Glob81 uncertainty caused by President TrLunp'
reglme of tsriffs has caused ol)w on global stock markets, further hlghlighting the potential risks of thptlng
Totsl RetunL
Th¢ pnjporty at 53-56 Tr1i8h Sir¢¢L M￿k¢t HariK•fou8h, forn]¢rly rented by Joul¢s, will be v4catsdby the ffld of
2025, resuitit)g in a loss of £80k Income for the Charlty. The Estth Committee18 ourrently Investigating oth
U5¢B Ior tho propety, inoludin8 th¢ po&%ibility of using it as tho Charity offi¢¢ twd ￿ a community hub. Such
development would come at a finartclal costto the Chltrlty.
The llewGovernance Commltte4 fornied to ensure compliance with Ch￿lty Conm)I￿l0n guidance and to ensure
th¢ necessary ￿11¢105 and pro¢edur¢s w¢re In place, n]ade exc¢llent progr¢ss, to d8te having updat¢d 14
pollcie8 and procedure4. This Work will provid¢ ptoper protections for th¢ Charity, staff and trus*a8.
The Board corflThu&8 to engage & firm of Chartered Aocountsttts to oversee all a8pect8 of bookkeeplng, provlde
quarterty m&nkgement accounts md to dmftthe annual financial statements. No Is8ue& of any substxnce were
raised by Lhe auditors fro￿ theAntEud Report for 2023, inpart due to the nLqny improvements mad¢ to fjnandal
¢ontrols by tho Charity's bookkeeper.
Pg4ge 5

MARKET HARBOROUGHAND IIOWDENS CHARITY
REPORT OFTHE TRUSTEES
FOR THE YEAR ENDED 31 DKCEMBKR 2024
FINANCIAL RLI VIEW (eontlllued)
Flnanelal lllvestment peyformanee
Itlcome frorn the Inve&tment portfolio {ox¢ludin8 investm￿1 properti¢B) reduced by appmximatety 17.5¥•
compared wlth the prevlous year to approximately £273k, The valu¢ of the inv¢stmcttts under Mercer Imd risen
by apprOXin￿¢¢IY £1.26 n)illion compared to the of the previous yelw, befi)Te President TrLry'S imposition
of tarlff8 ¢UU3¢d worldwld¢ ¢haos 00 8lobal finall￿ markets itt April 2025.
Exp¢ndlturo In 2024 wga1grg¢ly a8 exp¢¢ted, wtth some on&off' costs, but tbe Charity's rdu¢¢d ino)m¢ is
continulng conc¢m, IncoLll¢ has d¢¢rea8¢d from £546523 In 2023 to £483.807 in 2024, and the outlook for 2025
i% equally if not more concerning.
Me￿8 Fi8h¢r German LLP, Chartered Surveyors undertook a full V￿U￿tIott of the Ch&,lty's pi'operty portfolio.
both held for investment and operat'ional use, a5 at 31 D￿effibex ￿)24 and the results are IncO￿Orated in thc
rinan¢ial Stat￿￿ents. This has re8ult¢d in & net IJ¢r¢￿ of £69,000 and £110,476 in th¢ cakyyins value of the
inv¢8tment and operatiooql propertiej, reSp￿tiVely.
R¢serYes pollcy
Res¢rY¢s iepment vnreAtricted fimds after appropriats provision has mad4 tbrough deslgttatsd limds (as
d¢8GriiKd abov¢) for: rn¢¢ting coJnmitill￿tS for grants pledged. maintenallce alld repair of tho GreAt Bowden
chur¢ls' nwking Relief illN¢ed edu¢&tiollal grants. 8lld repaits to all freehold properties.
TheTrustees aim to find projects worthy of Sup￿￿ in accordance withth¢ Charity'y objwts, Such thatthc Brmts
thalthey award are approxlmately equalto the CEwity's incomc n¢É olop¢rational ¢xpense$ andnmnagement and
admini8tr&tion ¢xpen5es. However, reseThe8 &r¢ requi￿d.
to allow for unforeseen reductions in annual income; and
to enabl¢ th¢ Charity to provide fill￿8 for spe¢ifl¢ ProJ￿t￿ Bo that these projerAs can be at short
noticp.
Taking thase fa¢¢or8illto aceounttbe TrllBters conslderthat the teserv&g should id¢allybe within arange of ttv¢lve
to eighteen months of the typical outgoinE re8ourees of the Clwity (excludlng amomts specifically covered by
d￿ignated reserves) which approximately ¢quat¢s to between £500,000 and £750,(￿}.
The reseryes at 31 December 2024 8moullt to £837,444, however, proporty whith 18 inuse for S(Kiai Jnvestment
purposes represents £190,000 of this total. Therefore, the net free reserves are £647,444. ThiB level of reseryes
lies tswards middle of the ideid range and is considerd to be ￿ceptable for tho it))mediats needg of the Charity.
The Charlty'3 Flllance Commlttee contimies to keep th¢ level of r¢serve8 under ￿leW Hnd In ty)akinE its
&98e88rnent it will refeT to quarkrly management aLKounts pr¢pared by th¢ Ch4rity's accountonts, incomo
pJ¥Jjg¢tious preparaL by the ChgTity's fjjnd n]anagw8 and internally PTIMluoed l￿￿k flow proje(aions. Appropriate
recommendations will then be mad¢ to.the Bollrd as to th¢ l¢v¢l ofgrants to b¢ &WArd￿ in 2025. If n￿esS8rys t
level may need to be reduced fromthat of ￿ent yeaTh bui ih¢r¢ 18 no nwJ¢rial Ull¢¢rt&iDty that the Charity WAII bo
abl¢ to ¢ontinu¢ a8 a goillg eoncwn for the foreseeable thture,
PLANS FOR FUTURE PERIODS
The and diTrction invested in tho Charity's UllSU(*essfvl bid to buy th¢ former Romon Way Community
Centre Ilas been rechannelled into a d¢t¢rmination to succeed with th¢ cre4tton of ¥4 communlty hub for the Ar¢4
of Benefit, The possibility of utilising 53-56 Hlgh Street, MatÉet HthA)rough, for this purpose will be explored
fiuther ill 2025.
The seven aotli)Ds asreed At the Away Day itt January 2024 will guide the Chwity Wbing forward. These inoludc
th¢ d￿ClopMent of aCharity/Community HU￿ to includethe ChaTIty's oific¢, Th¢ Charity will consult locally to
ty to b&t¢r understand residents, prioritie4 and will artiv¢ty support fr¢¢ looal eY¢nts for maxlmum publlc
enjoym¢nt, Anew environtTLental tK)licyis to be developed in 2025, the grallt applI￿l0nproee8S will be revi¢wed.
Page 6

MARKET HARBOROUCHAND THE BO1VD]￿s CHARITY
RJ£poi¥r OF THJ£ TRUSTEES
FOR THK YEAR RNDED 31 DKCKMBER 2024
PIANS FOR FUTURE PKIUODS (contlllued)
Most Imporlantty, the Investtnent pollcy wlll be r¢viewed &s & matter of urg¢Thcy. in ord¢r to geneThte sUff￿1¢￿t
in¢otne foi, the Charity.
Grant 8ivln8 ¢ontinu¢s to bo a moinstay of th¢ work of the Charity. Th¢ Genei'al arants ¢ommitte¢ wlll take a
rnoK progr￿8)ve approach to grant giving 8nd will continue to 8sk applicants to demoD8tstre publlo benefit as
part of th¢tr bld. Th¢ Ed￿￿tion ¢ommitte¢ WUI continu¢ to £ocu$ support on thoso stud¢nts who most n￿d
financial help to progress thelr studles. And the Relief-ln-need cornmlttee wlll contitiue Its conversations wlth
support agenGies In an etTort to find 'stepplng stone8, IM)t nets'_ to find ways for applioants to help thern5elve8
throll8b ¢duoatkni or mentorlng pj￿ thus avoid the cycle of repeated applications for holp ov¢ry tim¢ a problem
occurs.
STRUCTUR4 GOVERNANCEAND MANAGEMEP4T
Cov•rnlllg DoeMmell*
The Charity wa8 r¢￿stered as a Cbarltsble Incx)rporatsd OrgaThlsatloll on 9 Juty 2014 ond Is governed by a
fOUt￿atIOn constitution, whichwas last V4mended on IBlJune 2023. The constitution Statesthatthebodyo'Ft￿SteeS
('lkne Boardv shall consist of a n)inlmum of ei8ht tnths alld a mNximum of fifteen appointed truste8s and one
exofficlo trustr£. The first frfleen trusteeA ofthe Ch&rity were app)intsd for tern]s ranging from between tro and
five yew3, whereupon tlw aTe ¢ligible for re-wotntslleth. All 3ubsequent ap￿in{mentS/re-dppY1Trtrll￿ts are foT
atorm of four years.
Org4nlsAtIoDAi stry¢tur¢
The Bo8yd meets once a quarter to deal with all governance and policy m&der8 and h&8 appointed sEaff to attend
to d&y ￿ day ruDnitig of tbe Charity. Tbree grallt-giving sub-committeGs have been e5tsblished to Teflect the
consLithtion t)amely.' General grants, Rellef-in-need, Aud Edue4tlon. op￿￿£10￿41 8ubwcommittee8 have been
¢stablish¢d for Financ4 Est&te4 Fltts and AllOtm￿ts. Policy committees h&ve been set w) to advise on
Gov￿an¢¢ and Envln)mlletttsl m4tter8. An HR 8￿1￿comMIttee 915() m¢ets as r¢qulr¢d. Th¢ Board Te¢dv¢s a
ch￿ty Secretary's r4)ortto brfng the decJBlon8 of the su1￿COMMIttee& to the attentlon ofthe trustees as a whole.
Remullcration 8truetuTr for key Jllanagcmvnt p¢rsollllel
are entiroly Un￿muner￿Ac¢L Staff salatues are index linked with COSt￿f-]lv1ng inorements rylied eaoh
year based on a mqtlortwl lttdex.
Tru8tee i'ecrultmenl, Induetlon and trallllllg
H￿b(￿Oll£h District Council ('*he Councilv may appoint one Individual to act a8 an ex.officio trustee of th6
Chwity provlded that Individual is &iso a Senlor offic￿ of th¢ Cowioil. The pw)sitlon of ex officio tNstee shall
remain Y￿ant if none ofthe Counoil's Senior Offie4rs are willlng to 8Ot In thls capadty.
The fourtrusttes ap￿Illted In 2023 brOll￿tthe eomplemcrtt oftrustee8to thirteen, plus oll¢ ex.offielo trustee. A8
partof the ithction prooes5, the newtntstees were a&sisned a'tsuddy" Iw8t¢e and taken ona tourofthB Chwity.
prop#d&8. The trustees were Informed of their legal obllgations under charity law, the content of th¢
onstitution, tho cornmlttees and deo15ion-makln8 pm¢e￿¢S, strat¢8i¢ Toview, and the recent financlal
perfom]an¢e of the Charity. All tru81ees will b¢ encouraged to atlend 4ppropriai'o external training events where
these will fa¢ililate the undertoklng of th¢ir rol¢.
GDPR Ir&ining was attended and aM)reciated by the Charlty's staff in February 2025.
Page 7

MARKET IIAIIBOROUGHAND THE BOWDENS CHARriY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
YRUS￿￿Est RKSPONSIBILTTJES IN RKLATIONTO FJNANCJAL STATKMKNTS
The TJvst¢¢s are r¢sponsibl¢ for pr¢paring the Th￿te¢s, R¢port and the financial Statements in acLx)JxbJw¢ wi
applic&ble law and Unlt¢d Kingdom A¢¢ourting St￿a4rd9 (United Kinsthm a¢n¢rdlly AeLepted AccowÉin8
Practioe).
Th¢ lttw fippli££ble to charltles lttBnglattd & Wal¢5 requlre5 the Thjstses to pep8re flnallclLI statements for
fjnaL¢lal y¢w whl¢h glv¢ & truo atsd fair view of th¢ stat¢ of affalr& of thc Ch￿lty and orth¢ In¢omlng ttsouwes
nd appll¢&tion of resour￿ of. the Charity fDr th8t period. In prq)orlng these finwlal 5t&temenf4 the Truste
arei'equir&J lo:
8¢lect suitable ac4Jountlng poliu¢8 al￿ applythem ¢onsiJt¢ntly•
observe the methods priJKlples ltt the Charltleg SORP FRS {102)'
make judgements and ¢8timatos that ar¢ r¢asonabl¢ otid prudoul
state WhetI￿r applicabl¢ acwunting standard,% hav¢ be¢n followe4 subieot to any material depArtur&8
disclosed and explained inthe fllMncial sialement8;
prepar¢ the finanoiai &tstem¢nts on a going (x)wern basls Unle￿ It i¥ Inapw'opriat¢ to pr#sun￿ thatthe chaTIty
wlll contlnue in oppratlon.
The Th]stees glt responslble for keeping a(￿ount1ng record& that disclose wlth reasothable acollracy at any tlme
the finaLoial posltion of the Ch&rity and enable t1￿￿ to ensule thal the finanoial 8Éthments comply with the
Charlties Act 2011, the Chw'ity (Accounts Rq)orts) R¢gulatlons 2008 and thoprovisions of the con8titstt1on, They
are a180 responsible for Safeguarding the assets of the Charity and hellce for taki￿ reasonable strps for th¢
prevention and detsction of fraud and other irregulariti
The TNslees are responsible for the maintenance and integrity of Charity and fitmncial inforn￿tiOll included
on the Charity's website. Legislation in the Unitsd Kingdom governing the preparation and dissemination of
financial staterncllts may differ frorn legi81atioll ill other jurr8dictioll8.
FUNlhRAISINC STANDARDS ￿rI ORMATION
The Ch￿Lty does not carry out any siEnifieaAt futhising aottvities involvlng the general public.
DECLARATION
I declar4 inmycapacity of Charity TNste4 thatthe Trustee8 bave approved therwrtRbove attd have authoris¢d
me to sign it on their behalf.
JL)hll Veavyour QPM
Cludr of Tru5tses
Dated 2Loctober 2025
P￿e8

MARKET HARBOROUGH AND BOWDEINS CHARITY
INDEI PENDENT AUDITOR?S REPORT TO THE TRUSTEES OF
MARKET HARBOROUGH AND BOWDENS CHARtTY
Oplnlojj
We have audited tbe finanolal 8tatsrMits of Market Harborougb alld The Bowdeths Chatlty (the ,￿harIty,) for the year
ended 31 D￿rnber 2024 which ¢ompri8¢ tho Stat￿0nt of Finao¢ial Activitie8, th¢ BalanG¢ Sh¢eL the Cash Flow
Statement and not&4 to the fit]ancial StateD￿ntS, Includlng a sumll]ary of 81￿]1£c&￿t 8¢countitig poli¢i¢s, Th¢ finenci
r¢porting ftamework thothas been appli￿ in their p￿paratIOn is appli¢abl¢ law and United Kingdom A¢¢ounting Standards
ill0ludn￿ FRS 102 Th¢ Fill￿¢1￿1 R¢porting Stand￿d applicable in th¢ UK and Republic of Ireland (United Kingdom
Gelleialty Acetpted Amnting Praotice).
TJL our opinion the financial 8tatsnKth&',
8iv¢ 8 4Ju0 and fair view of the state of the th￿ity'S affairs a8 at 31 December 2024, and of its illcoming resowces
and applicalion of re8ource8, forthe p¢riod then ejded.
h￿t be￿properlYp￿cp￿ed in &ccordance ￿th Unlted Kingdom ClettErally Accepted Accountitig Practlce. and
haye beenpr4)ared in accord￿(> whh the requirements of the Chatities Act 2011,
Bas1$ for oplnlon
We cojducted our audit In &c¢ordan¢o with IlltQTJthtional Standards on Auditing (UK) (ISA& (UK)) and applicable law. Our
8ponslbilitieJ wider those 5tandArd5 are furth¢r d¢soribed in the Auditor'5 rwponsibilities for the audit of the fin8nGi81
s¢atenKnts scction of our report. We are independent of the clwity in accordance with the ¢ÉhicAI requirements that Are
relevant to our wdlt of the financial st'atsnents in the UK, Inoluding the FRC'S Ethl¢al Stmdard, aThl we have fulfdl¢AI our
other ethical r¢spoosibxlities In accordatsce witlL these requiremellts. We believe th&t the audlt eyldence we l)ave obtaitled is
suffici¢Dt 4ttd appropriats to provide abasis for our opinio
C(bnclvBlous rellltlug to golng Concern
Jn auditing the financlal 8tatsments, we have concluded that the tr￿le£s, use of the going collcorn basis of a￿0￿￿tIng kn the
prepaTation of the fittellcial thttsjtrnts 18 appropriats.
Ba8¢A on the Work Ive Iwve perfijrnied, we have not identified any mthrial Uncertainties relating to events or conditions
th&L indlvidually or collectivoly, may cast significant doubt (m th& chartys ability to continue as a going cottcern for
period of at leasttwelve month from whenthe fmanoial Statements are autlwri8¢d for issuo.
Our re￿￿)nSIbilitieS and the re8ponsibilities of the directors with resp¢L* to going c4)nw dwrib¢d ill tkn r¢levant
5¢0tiony of this report.
Other i￿￿￿￿tiOn
The 0￿r information eompriges tho infonnation included ill the atinual report financial 8tatemEnts, oth¢r thall the
financi41 statement5 and ow 8udiLor's repbrtthereoL The Trustee4 are re8pc)ngJThlo for the oth¢r infommtio
Our opinion on the fttmncial statements does ILQt cover the other infonnation and we do not express forn) of a88UTance
con¢lusion thereon.
Ovr rryoJ]8iblllty 18 to r¢ad th¢ oth¢r inforJJwtion and, in doing 80, ronsidor wh¢th¢r th oth¢r illforniation is rnatsriAIIy
inconsistent with the statem¢Dts OT our knowledge obtsined in tbe wurs¢ of th¢ &udit or oth¢rwi3¢ appears to be
Jnatsrially mi8Stated, If we identify s￿h matertal inconBi8tencies or appartnt nmterial n)ithatement8. we dre required to
det¢nnu]e whether ibis gives rise to a n]aterial missl&tenKnt in tbe fllmicial slatetnellts tIMllselves. If, based on the workwe
have perfOrn￿d, we conolude tha¢ there is a material m18Statement of tbis other inforniation. we ￿ required to report that
We hav¢ttithttig to report In this regard.
Continued
Page 9

MARKET HARBOROUGH Arffj THE BOWDKNS CHARITY
INDEPENDEwf AUDrroR'S REPORT TO THE TRUSTEES O
MARKET HARBOROUGK AND THE BOWDENS CHARrrY (conth]ued)
Motters on whlch we 4r¢ r¢qlllred to rep¢)rt by eAeopdon
We have nothin8 to T¢￿rt in respecs of the following matters in r¢lation to whiththo Charities (Account5 and Reports)
Regulations 2008 require us lo r¢port to you if, in our opillton:
the information 8iY¢ll ill tb¢ Report of tbe Trnstse5 is illry)llSiEknt in w mat¢rial 1¢8pectwith the finan¢ial
statements. or
suffi¢1￿t accoutrtlng records h&ve notbe¢nkep¢ or
fiD&nci￿ ststement8 8re n(rt in agre¢nKLt witlLtILe acCou￿n8 T¢¢ord8' or
w¢ have not received all the infor(nation and explanation8 we require for our audit.
Respon811)iJities of Trustse¥
As explaiTh￿ tt￿re fully in the Trustees, Responsibilities Statement {seL' out on page 9), the Trn8t￿8 are re8ponsible for th6
preparntion of tho fM)ancial slat¢ments for iKing satisfi￿1 that they Eive & thie and fair view, for such inllmal
colltrol as the Tn￿t¢￿S d¢t¢rmin¢ IB ll¢caaary to enable the preparatiort of financlal statements that ar0 free from nmteri
i8statsm¢nl, wlth dueto fraud or error.
In preparing the fJnanciAi statements, the TnTStee8 are respon8ibl¢ thT a&8e8slng the thatlLy's thlllty to ￿ntInue as a going
collce￿ disclosillgj as appli¢abl4 matters relat￿ to Boing conc¢rn using th¢ going wicern bllsis of ￿￿O￿ntIng wdess
the TrL]Stees ei1her Intend Éo Ilqutdate the ch￿lty orto c¢4￿ operntions, or have no r￿lIstiC alternative but to do 80.
Alldltor's reSpon￿bIlItIeS for thé audlt of tho flnancjal stAtements
We have IKcn appointed as auditors under Section 144 oflkn awitie4 Act 2011 alldreport in accordance with Act
relevant regulatlons made or having effectthereunder.
Our objectives 9re to obtain reE￿nable assuranL% about wl*ther fJnao¢ial Staton￿ 8s a whole are free from rnaterial
IS8t&tell￿nl whether due to fraud or error, and to issue an auditor'g ryort that include8 ow oplnloL R¢asonable assurance
is a high l¢v¢l of assurau¢¢, but is N)t a guarants¢ that all audit Conducted in accordallGe witb ISAS (UK) will alway8 detect
a material misstatement when it exi8ts, Mi8Stat¢m¢nts can aris¢ from fraud ￿. wor and are considered matwial if,
individually or in the aggregate, they could re&son&bly be expected to infiuetLce 1he economic decisions of uw8 taken on
the basls of thBs¥ fit)ancial statements.
Krregulariti¢8, iuclvdillg fraud, ar¢ instan￿8 of non-comptiallL% with and regulations. Wo d¢Jign pmcedures In line
with our responsibilitie￿ outlined &bove, to detect nTralerial mis8tat¢ments in r¢4Kot of 1￿¢gU￿1￿e￿ including frnud. The
extent lo wbicb owprocethwets are ¢apabk of detectittg irregol&rlti¢& including fraud 18 detailed below:
- the engagem¢nt partner ensur￿ that the ¢ngagemgnt team colle¢¢iv¢ty had th¢ appropriate expetien¢e, compete￿￿,
capabilities and skills to identify or recoBni5e llon-compliance with laws and1rg￿tilIll5,'
. through di8cussIon8 with the trustee8 &ttd other maDagernent, attd from our comrn¢rciai Imowiedg¢ of th¢ ¢harity's
aGtiviti&8 objeGfiv&8. we 1deTrtifi￿ tbe lav￿ and re8ulation¥ applicablo to the charity and focusd on specific law8 and
reBL￿ationS wbich we considfflEd may have & di￿¢t Lnateri￿ ¢ff¢ct on th¢ finallciai 8tstements alld operation8 ofthe charty.
- we remained alert lo instances of nort-compliaI￿ tlwougllout the ￿dit and assessed the cxt¢nt of ￿MplIall¢¢ through
discussion8 With tjwMgen￿lll and examinatioll of dO¢u￿￿￿&ti0ll.
W¢ ass¢s$¢d tkn 8u$¢¢ptibilty ofthe charity's fmancial statements to material misstat¢mont obtsined an understandin8
of how fraud n]ight occur by.,
- t)wking w4uirie8 of nMllagem¢n¢ 05 to wkre they COD8idered there was a su8¢0ptibility to fraud and their knowledge of
any actuaL swpected or alleg￿ fraud; and
- considering the internal controls in place to mltigats the rlsk of fraud attd non-compliance witb laws and regulations.
Contillued
Page 10

MARKET HAIiBOROUGH AND THE BOWDENS CHARITY
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF
MARKET HARBOROUGH AND THE BOWDENS CHARITY (continued)
To addre&4 the risk of fraud through management bias and override of controls. we:
- perfomied analyti¢al procedures to identify unusual or UneXp￿ted relation8hip8.'
reviewed the nominal ledger and, specifically> journal entries to identify large or unusual transactions and investigated
them. and
w¢ ass¢ssed the extent lo which accounting enlri¢s r¢lied on a high degre¢ of judgem¢nt andlor estimation and when
deemed necessary, sucb as for finBncial a￿ets held at fair value. obtained external evidence to support said judgement and
lor cstimation.
response to the risk of Arreguiaritie5 and non-compliance with laws and regulations we designed procedures which
iD¢luded..
- agreeing financial statement disclosures to supporting docun]entatioll'
- reading n)inutes of trustee I management meetings. relevant regulators and the charity's professional advisers.
- perfonntDg substantive proccdurcs on rnaterial balallccs and trallsactiOllS' aud
- cnquiring of management as to actual and potential litigation and claitns.
There are inherent limitations in our &lldit pri)cedures outlined above. The more removed tbat laws and regulations are from
financial Irallsactions, the less likely it is that we would become aware of llOD-compliance. Auditing standards also limit the
audit procedures required to identify non-compliance with laws and regulations to enquiry of the trnstees and other
Tt]anagement and tbe inspection of regulatory and legal correspondence. if any.
Material misststements tbat arise due to fraud can be ]Jarder to detect than those that arise from error as they rnay involve
deliberatc concealmcnt andlor collusion.
A further description of our responsibi]ities for the audit of the fillancial statements is located on tbe Financial Reporting
Council'5 web5itc at.. w5￿.frc.0r
.uklauditorsres
oiisibilitie5. Thi5 d¢5cription forffls part of our auditor's rrport.
Use of our report
This repx)rt is made 501ely to the charity's Trnstees, as & body. in accordance with Part 4 of the Charities (Accounts and
Reports) Regulation 2008. Our audit work has been undertaken so that we might state to the charity's Trustees those matters
we ar¢ r¢quircd to statc to thcm in an auditor'5 r¢port and for no other purp05¢. To thc fvllcst cxt¢nt pcrtnitt¢d by law, we
do not accept or assume responsibility to anyone other than the cbarity and the charity's Trustees as a body. for our audit
work. for this repoffj or for the opinions we have foL7ned.
Edward Thomas Peirsoll & Son$
Statutory Auditor
Cbartered Accountants
21, Tbe Point
Ro¢kingham Road
Market Harborough
Leicestershire
LE16 7NU
Dated: Il
October 2025
Edward Thomas Peirson & SO￿ is eligible lo acl as an audilor in lerpns ofseclion J2J2 of the Copnpanies Act 2006.
Pagell

MARKET HARBOROUGH AND THE BOWDENS CHARITY
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
Restrleted
Ineome
Fund5
General
Designated
Funds
EndowtneDt
Fund
Total
2024
Totol
2023
Note
INCOME AND ENDOWMENTS FROM:
DonAtion5 and legacies
Charlt8ble g¢tEvldes
200
2￿
425
102,082
IW2,082
99,039
Invejtmeots:
From inve5ttnent properti¢5
From investment portfolio
Other
105.885
272,883
2.757
105,885
272,883
116.927
330.023
2,757
109
Total ineome and endowrnentS
483.807
483,807
540,523
EXPENDITURE ON:
Ralslng FuDd5
Charitable 8ctivities:
Provision of grant funding
(66,091)
4.519
(62,172)
(28.956)
{365.356}
(365,356)
(3741.103)
Other charitable aEtivitie5
{253,747}
(50,476) (304,223)
45.957
731,751
(253,104)
Tot81 expenditure
685,794
(656,163
Net income1(expendit￿￿Q)
before gainslOosses1 on inve5trnent5
(201,9871
(45,957) (247,944)
(109,640)
GAINSI(LOSSES).'
On InVest￿ent properties..
Realised
Unrealised
15
15.000
54.000
69,000
15,561
On Investments..
Realised
Unrealised
16
16
29,231
22,617
666,002
515,307
695,233
537.924
3.885
716,977
Net incomellexpendithre) before transfer5
Net transfer$ bettveen funds
(135,139)
138.099
1,189,352
1,054,213
626, 783
19
(138,099)
Net itieomel(expenditure) for the period
OTHER RECOGNISED GAINSI(LOSSES):
On revaluAtion of Tangible Fixed Assets
2,960
(138.099)
1.189.352
1,054,213
626,783
13
110,476
110.476
235.834
Net movements in fund5
2.960
(138,0991
1.299,828
1,164.689
860,617
Totsl funds brought fonvArd
834,484
360,250
10.352 20.401,575 21,606,661
20,746,044
Total funds carrjed forward
837,444
222,151
10,352
21,701,403
22,771,350
21,1506,661
All aGtivitlC5 relate to continuing operations.
The notes OD pages 15 10 32 fom part of th¢5e f]nancial siatements.
Page 12

MARKET HARBOROUGH AND THE BOWDENS CIIARITY
BALANCE SHEET AS AT 31 DECEMBER 2024
Note
2024
AsAt 31 Deeember 2023
Fised Assets
Tongible fJxed asset5
Freebold land and buildings
Fixtures 2nd fittings
Office equiptllent
13
2.007.347
1,951,SJ8
2,007,347
1.951,818
Intangibk flled Assets
Basic Pay]ncnt Schcmc cntitlemcnts
14
Investmellts
Investment propertie5
InvestmeDI portfolio
15
16
2.980.000
17,628,024
2,911, (PQO
10.364.979
20,608.024
19.275,979
22,615,371
21,227, 797
Current A55ets
Debtor5
Cash at bank aud OD dcposit
Cash in ]]Rnd
17
13.323
281.070
472
31.103
400.469
195
294.865
431. 767
Creditors pAyable within one year
18
(138.886)
(52.903)
Net CurreDt Assets
155,979
378,804
Net Assets
22,771,350
21,606,661
Funds
19
Unrestricted fund5
General fi￿d5
Designated fi]Dds
837,444
222,151
834.484
360.250
1.059.595
1,194. 754
Restricted funds
Income funds
Endowment fi￿d3
10,352
21,701,403
10.352
20.401.575
Total Funds
22,771,350
21.606.661
The finallci&l statements were approved by the trnstees on 11-October 2025 and signed oll their behalf by:
I+L•
Jo]m Feavyour QPM- ChaiT
Kerry Merryweatber- Trustee
The notes on pages 15 to 32 forn] part of thes¢ finaneial ststements.
Page 13

MARKET HARBOROUGH AND THE BOWDEIYS CHARITY
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
Total
2024
Tolal
2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net movements in funds per Statement of Fi02ncial Activities
Adjustments for..
Depreciation & Amortisation Charges
B&d debt provision written back
Fund ￿￿)￿ger'S ft¢s rebate adjustrnent
(Gains)ILoss¢s on inv¢sttn¢nt properties:
Realised
Unrealised
1,164,689
860.617
54,947
48.Q65
(43)
(29.888)
(69.000)
(15.561)
{Gains)ILosses on investsnents..
Realised
Unrealised
(695,233)
(537.924)
(3.885)
(716.977)
Dividends, rents and int¢rest r¢¢¢ivabl¢ from..
Investment properties
Investments
(105,885)
(272,883)
(110.476)
13,236
71,389
(116,927)
(330.023)
(233.834)
(7.488)
(4J.114)
(GainsyLosscs on rcvaluation of Tangiblc Fixcd As5¢ts
(Increase)IDecrease in Debtors
Increas£1(Dccrca5c) in Cr¢ditors
Net cash used in operating activities
(517,071
556,227
CASH FLOWS FROM IfwESTING ACTIVITIES:
Rents received from investment properties
Dividcnds and iDtcrr5t rcccivcd from iDVCStmcnts
125.066
272.883
129,667
331.164
Proceeds of Sale of Investments
15,336,930
17.608.034
Purchase of Invest￿¢llts
(15.336,930)
(18.015, 72J)
Net cash provided by knvesting activities
397,949
53,144
IYET CHANGE IN CASH IN THE REPORTING PEIUOD
(119,122)
(503.083)
Cash brought forw¥rd
400.664
903, 747
CASH CARRIED FORWARD
281,542
400,664
Cash Carried Forward represents:
Cash held in investment portfolio awaiting investment
Cash at bank and in hand held on instsllt access and short terni deposits
Cash in Hand
281.070
472
400,469
195
281.542
400,664
The not¢s on pages 15 to 32 forni part of these financial statements.
Page 14

I￿ARKET IIARBOROUGH AND BOWDENS CHARITY
NOTES TO THE FINANCIAL STATKMENTS
FOR THE YEAR ENDED 31 DECENBER 2024
I PRINCIPAL ACCOUNTING POLlaKS
(8) BASIS OF PREPARATION
The financlal staternents have beetLprepated in accordanL% With,.
A￿o￿tt11ng and Reportitig by CI￿ltieS,, Ststement of R¢comtnended Practlce applicable to chthtios
preparing their accounts in accord￿l￿ with the Financial Reporting Standard ￿plicabLe in th& UIC and
R¢publi¢ of Irelftnd (FRS 102) issu¢d in O¢tob¢r 2019 ('EORP (FRS 102),).
The Financial Reporting Statsdard applicable In the United Kingdom and Republic of Iteland (FRS 102)
("FRS 102,).
Th¢ Charit1¢8 A¢t 2011. alld
UK Genmilly Acccptcd Practicc.
The obatity constituteg &pubIic benefit enÈity a8 defitted by FRS 102.
The t]nattclal statements h&ve been prepared to glve a 'true and f￿r, view and hydve departed from the Ch&Tltles
(Aecounts und Reports) RegulaLioDs 2008 only to the extent i'equired to provlde M 'true and f￿r vlew,. This
d¢parknwe has involved following SO]iP (FRS 102) rather than tho kn¢ouDtin8 and R¢porting by Charitie8:
Stat¢m¢nt of Re￿￿M￿NIed Pra¢tio¢ eff¢¢tiv¢ from l April 2005 whbbhas SI￿ bg¢n withdrawn,
The golng concern basis hastoric&l coit Conventio￿ gs modiftled by the inclusion of tshold land and
invesknnents at ￿lrY&l￿e. havej beenused inpreparingthe financial 8tatomonts.
(b) CO]NG CONCERN ASSRSSMENT
The Tn￿tee8 consider th8t there are no materlal uncertainties about the Charlty'8 ability to continue as & goin
c<>nc¢rn.
Th¢ moBt $18llifi¢ant &r￿ of uu¢¢rt8iJity, whiah aff¢¢ts th¢ ¢ontinuing i￿Oll￿ of the Charity, ar¢ the l¢Yds of
investment illcon￿ and p¢rfOnll￿ of investment mOTk¢ly. Nots 16 to tho finanrial jtatements Provides d¢thil of
the action tskeD by the TTUStee8 to mitigate the risks involve(L Desi￿ted r¢8¢rves have been establi8bed to ensure
that ad¢quats fimds are avaikble Éo rneet pledgeB made by the Charity at tbe balance sheet date in the eventthat th¢
assoolated condttions are ty￿by tho int#nded knn#fioiades,
Tho Covid-19 pmd¢mic and the 8ubsequ¢nt W4r in Ukrain¢ Thted knoll in the mark¢ts with the Tesult
that only d￿Illg the year ended 31 DecemlKr 2023 did the value of th¢ inve8tmellt portfolio ￿0Ver to its PTe-
pandernic level. At 31 DeKernbrr 2024 the value of the portfolio ¢xce¢d¢d its pre-p￿deMiC level by approximately
£1,913,000.
Invest￿￿ttt rcceipts a180 fell in r¢spon5e to the8¢ Iwo ¢v¢nt8 and a8 a r¢sult of the of tbe chang¢ in inv¢8tm¢nt
n￿agers. Lower levels of illvestrneni income ate expect¢d to contitThe for the FOr￿tabItt futswe and th¢ Tn￿tee$
are currendy considering adopting a totral retum approach to investtnent. In the meantime, tho Charity has set
reeh8tlc projecdonB of Its Investment Incon￿ reeeivable ift RccDrd4nce with g(fvice from its investment man8ger5.
T)uTrlL¥lly only between 30D/o and 40Q/o of annual lttcome 18 required to Goyer the Charity expenditure other than the
payment of grnit8. Therefore, wbilst the Th￿e8 accept tI￿t ￿aTrI. makn)g mhy bave to be restricted to a level
below th&t of rec￿¢ years th¢y oonfidentty ¢xpeGt that tbe Ch￿lty will hav¢ th¢ cash flows to be abl¢ to SFdtlsfy
existingpledges and to continlle to make meaningful 2Tant awards for the foreseeable futut&
Page 15

MARKET HARBOROUGH AND THE BOWDENS CHAIUTY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR Er￿D[￿ 31 DECEMBER 21)24
(c) INCOME IIECOCl4trio
All ittcomin8 r¢sources aro includod in the Stat¢m¢nt of Fillanci￿ ActiYitie8 when the chatity is le8ally entitled to
the incom¢ aftw any p¢rf0Jm￿¢e conditions have been mei the amullt call be measured r¢liably and it. is
probable thAt the incon)e will be re￿1¥
Charttable aedylrtl￿ Ineome comprtses co￿trIbutiOn1 due from the tenants of the Scotland End Flats 4ndT¢nls and
similar amounts r¢ceivable froffttho Cri¢ket clu￿ SSS4 Old Grattlljw School the allottswnts. These ptoperties
at¢ held for charit&ble pur￿lseS fmd the illcon￿ arising iwr¢8ents kss than a n)aAket rent,
Investment tseomo tepres¢nts renial ineA)me from cou)n￿la1 properties attd farm land, wbieh are hcld by th¢
Charity for tILeir itsv&%tmentpolentid, together WAth interest and diviiknd8 on St￿k4 8]]&res and battk derM)sits held
on the el￿oW[￿ent a￿1 utLte8tsicted fiuKls. Sucb inromg is rociJsnis¢d on a rec¢iv&bl¢ basis and where appropriato,
this illoludes the income tax rec4)verable.
tncomin8 r￿urCeS from inve8tmeDA8 (i￿ludIng inv¢sbnent prop￿1¢#) held qg p￿t of the ettdowment fillKI are
Un￿￿trACted.
Wherever p0&8ible, income is rq)orted ￿8& of any ￿lated euKllditure. l4owev￿, in th¢ ¢a5e of investment
man8gem¢ttt costs within managed It 18 not always prncllcablc to identify Such cost8 Wtth r¢asonabl¢
ccuracy and, therefore, the investment income is reported not of thase costs.
accord￿¢£ with SORP (FRS IIY2) llo aDWUllt is included in the financial &tait￿ents for volunteor time.
(d) KXPLiYDrrtiRK REcocNrrIoN
All ¢4Kndittwe is included on an ac¢nwis b￿lS and Is re￿gnised where there is & legal or COns￿tive oblig&tion
to Jn8k¢ payment to third p&rti¢s, It Is probabl¢ that settlement will be requir&] and the amount of the ob]igYdtion
can be mea8ured reIi&bly. A5 the Charity A8 Mit re8ist¢rod for VAT, gll expenditure is shown gtoss of itreg)verable
VAT.
Expenditure is catogoriaed underthe following headingi:
Ratsillg funds This repre8ents'. c03ts of managing and mailltalnln8 th¢ Ch4rity's In￿St￿￿t ptopertle5' ImTestment
portfolio nM]as¢m¢nt fees. and promotiollal and w¢bsite costs aim¢d at potential dollors.
ChArltAble ￿tIvItIeS Costs under this headin£ fall into two distinct categories:
Grants paid to individuals ulld orB&nigutions as approved by the Tru8tee5 in accordallL% with the Charity's
Conslilution. aud
Th¢ co816 incu￿¢d in providing attd n791[￿in]llg th¢ S¢otlalld Bnd Flat8, Old Granmw School. Ib¢
allottnents and Ihe Sits of Special Sclen&fic lttteresL
Where unconditional 8rants offered the expenditsre is Hs EootL 8E the reclpient i8 llotified of the 8ra
nd th¢r¢ Is a ttasottabl¢ erp¢¢tstion that it will b¢ pald. Where grAnts are pledgel but pay]nent is condition81 on
the perforrnallce of the recipi￿ tha ￿nOutst is llot ￿0£nised as ￿ ¢xpens¢ ull¢ii th¢ eondltlons h&ve been
lfille(L Etowever, all amount equivalent to that pl¢d8ed is transferLrd to a designated reserve.
Pag¢ 16

MARKET HARBOROUGH AISD THE BOWDENS CHARITY
NOTFS TO THE FINATr4CIAL STATEMENTS
FOR THE YEAR ENDED 31 DFLEMBER 2024
(e) ALLOCATIOFI OF cosrs
Costs which aro directly atEributable to gi 8ingle activity are allocatsd direcdy to that actiiThty. Slwed oosls which
contribute dir¢cLiy to more than on¢ activity Are apportioned between those activities on tILe ba818 of usage by each
octiyity.
Support costs twes¢nt th¢ romaioirtg cost8 that are not capable of dire¢t attribution. They haye been Allo¢atsd
between tbe cv4tsg0ri&4 ofraiBing fiJDd8 ch8ritabl¢ adivili¢s in accorda￿e with the basis specified in Note 7.
Gov¢rnanc¢ costs, whlch represent the ¢xpen8es of Tru3tees' meetings and legal and profe88lonal fees rdated to
ntimillg and MI￿￿gement of the Charrty (Including external audlt fr¢sl are i0¢1￿1¢d wlthin th¢ heading of
&upport ¢osts.
The allO￿tIOn pro¢e88 involve8 a 8tgnificant element of judgement as the ¢harity has to COD8id¢r th¢ cost of
detailed calculations and Tecordkeepit)g with the r¢S￿tallt beDefiL
(f) OPERATING LEASES
ReLt8ls payable and recelvable under operatlng leases are ohargedl¢redited ill th& Statsment of Firwicial Actxvlti
on a strnight-Ilneb86Es over the peri¢Jd of the I¢￿¢,
TANG￿L￿ YJXILD ASSETS INCLUDING HERITAGE ASSETS
Fro¢J￿Id la￿d, compri8itss alloltsJent5 and orickE¢ club aLE itioluded at their e8tn]Mtd open maTket value
b4sed on a profes8i0D81 valuation YA)ith is usually undertaken it least On￿ ¢v¢ry tbre¢ year8. The most ￿cent
revaluation wa8 nndertaken as at 31 Dec¢mber 2024. Any ufftalised gains or losses are credited or clHTg&l to the
SOFA ag they arise. No depreciation is provided on wch a58et8.
The Old Gratyjmar School, a8 more fiTIty explained ill Note 12, i8 a Heritsge As8et which fornis part of Ihe
ChwiLy'5 Pern]anent Ethwm¢nL Th¢Te is no nQTd o£th¢ origU￿1 c05t of th¢ building and th¢ Th￿te¢S consider
that there are llo 8Uttsble or costseffeetlve technlque8 &vallable to agcertaln & reliable valuvdtiott for the ptopw.
. AcrA)rdingly* no cost or￿1￿?1t1on]s attributed to theproperty in th￿e fit)ancial 8tatemonts.
All othu as8et8 recorded at C05tlvalu&tAon ie88 accuwlated dgpreciatiots. The LX>8t of n]inor additioD8 to fixed
a58ets, defind as tkn8e ￿Sting1¢s￿ than 4000 eac￿ arc expens￿ in the Yet￿ in which they ar¢ inourred.
Depreclatlon Is provldeA at rat¢8 colou]ated to write off tbe costfvaluatton, les8 &imatsd reslthial Ydluo, of ea¢
as6Ct on a strdght-lknebllsls over Its e&thnthd useful Ilfe AB follow8.'
Fre¢hold prop¢ty for op¢rdtionul us¢
Improvements to cricket club buildings
SeArtland End Flats buildings
Seotland End Flats fixturos
OffiGe equipment
- ov¢r 50 y¢ars
- over theperiod of th¢ lea8¢ to th¢ crick¢É CIT
- over 50 years
. ov¢r 7 y¢ar8
. 25Vo per
The d¢pre¢latlotL ¢harg¢ of 88S¢t5 h&ld with Endowment Fwid Is cha￿d to tbat fi￿d. All other (kpreciation Is
clwged to the Getkral Futtd.
(h) JNTANGIBLE FIXED ASSETS
Intan8ibh fix¢d awt& r¢prc8ont Basic Paym¢nt Soheme entitloments purcha8ed by the Cbatity, whl¢h w¢re
inittally ￿e0￿l￿d at cosL The assets weTr being ￿rtised on a 8traight-line ba818 80 a8 to fidly write off their
cost by the end of 2027, in &ccordan¢¢ with UK G0￿rnn￿ll¢ pollcy to pl)as¢ out DiTect Payments w]der thg
SCh￿e over tbis period. However, the Government subsequenay thaÉ financial SLWPOrt payrnents for
the years 2024 to 2027 will be delinked from the ￿tItIo￿entS and that they will not bo tradeabie aftor May 2(f23.
Accorditigly, the rem&ining net book value of the u88ets at 31 December 2021 was writton off on A Strnight-ltno
basis through to the #nd of May 2tr23. The a&8ets forni part of the Endowment Fwid the allu)rti88tioJ 18
Iwged to that fithd,
PA8¢ 17

MARKET HARBOROUGH AND THE BOWDENS CHARITY
NOTEI S TO THE FINANCIAL STATEMENTS
FOR THE YEARENDED 31 DECLMBEI R 2024
(I) INVEST￿NIs
It)v¢stm¢nts comprise investment propertieE and Gecuriti¢s h¢ld withln ￿ inve8tme4Lt portfi)Ilo and are Initially
r¢coui¢d at thairtran8action price (iUGluding co8t8).
lllvesln)¢nt properties &re subsequently r¢oorded at thir e8tlmatod op¢n market valu¢ at the ettd of each financial
year. This &8tltthatr is based on all ind¢pendent formal valuatio￿, wtiicb 18 usualty ullderlaken at least onc¢ ¢v¢ry
three alld by tk Trust￿ IL tho int¢rvenlng years ba8ed on 1lldepend￿t advlco from 4 degktop review of the
most Tecent formal valuatioTh The last formd valuAtion was undortak¢n as at 31 D¢ceJ)ther 2024. Investment
prop¢rtie$ ar¢ not depreci8ted,
JnYthn¢nts within th¢ p¢)rtfolio ar¢ r¢vglu¢d &nnw8lly at thoir n]ark¢t value OL the la8t day of thtt financial year. All
inveBtments are & form of bHSiC fll)ancial instrU￿t which traded in quoted publio Tha CbArity do
not &cquire put optiolls, deri￿tiveS or other coll)plex financial in5trLullents.
Realised gains and losses OD ItivestD￿Its are calculatrd as the dlffercnce between the ￿le pr￿eed8 and their
market voh3e at the start of Ihe year, or Subsequent eo8t. Unrealised gain$ and lo&wg repir8ent the n￿vernent in
maTket value8 betw￿￿ valuations. Both typ￿ of 84ins and loss¢s ar¢ ¢r¢ditsd or ¢hargd to the Statemernt L)f
FiD8Lcial Aotivitics in th¢ y¢ar of gaill or1088,
DKBTORS AND CREDITORS RFLEIVABWAYABIM WITHIN YEAR
Debtors and creditors receivable and ￿Yable withiL one year &Te ￿corded VAt transactlon price. Any lo￿8 afi8illg
fromImp#irn￿rt ￿e inoluded within expenditure.
{k) CASH AND CASH EQUIVALEIYTS
C08h Ulld ra8h equivalents con)pri8e c08h on hand and call deposit8, and other sknrt-tw]J hI￿lY liquid investsnts
that are readily Convertible to a known amo￿lt of Cash and whith ar¢ subj¢ct to m iU8ignifiowt risk of change ID
valu
Whilst CH8h held by inve8ttnent manag￿& &waiting Investment Is in thi8 oategory, such ba]allces are included in tbe
balaLce sherf witbia Éhp value of the Invgstmcrttp￿lrolA0.
o) ruND ACCOUNfiNG
The Cbarity Yariou5 tyyes of find8 for which it 18 re8poJsible aDd which twuire septhte dlsclosure. These are
a5 follows;
Unre8tilcteAI funds comprise th03e funds ￿lah the TN5t¢o3 are free ￿ use Jn accordance with the Charity's
objectives.
DeslgttAted funds are unresirfcted funds wbicb the Thistees hav¢ eannarked for particular ￿￿)ose8. Detai15 of tkn
nature and purp08e of each designited fimd is yet out in Note 17. Trall8fers from generLI fimds to d&siwAtsd fimds
Stated at amounts thatthe TDJstse8 deom n¢c¢ssary to me¢tthoirknowD and arttl¢ip&tsd firture obliglltiotss.
Restrlet¢d Income lknnds are ￿lld8 whi¢h have r¢8triction8 pla￿d on them by the donor that require tbem to be
sp¢n¢ only for 5￿cl￿¢d PUTP)se8.
Endowmellt Funds are wiital thdg whioh th¢ Th18te¢8 c4nnot spend. The illcome arising from the elldow￿t
fi￿d5 is unre8tricted.
Pag¢ 18

IVIARI￿T HARBOROUGH AIYD THE BOWDENS CILARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
General Fund
2023
2 DONATIONS AND LEGACIES
2024
Miscellaneous donations & Gift Aid tsx recovery
200
425
200
425
General Fund
2023
INCOMING ￿SoURCEs FROM CHARITABLE ACTIVITIES
2024
Colltributiong frorn Scotlylld EDd Flats teDaDts
Old Grammar S¢hool rent
Allotment Ients
Market Harborough Cricket Club rental income
Countrysid¢ Stewardship & other SSSI grants
74.171
375
5,610
6,490
15,436
102,082
70,665
590
5.407
6.490
15,887
99,039
General FHnd
2023
INVESTmEr￿ INCOME
2024
From investment propertie5:
Rental incotne from commercial High Street properties
Farm Land
Miseellaneous
92,033
7.477
6,375
105,885
90,000
7,177
19, 750
110,927
From investment portfollo:
Interest UK fixed intr￿st s¢curiti¢s T￿asury stock
Dividends receivable from equity shares
Dividends receivable from collective investment funds
Dividends receivable from COIF Units
Interest on cash deposits
2, 702
26,234
247,333
48.399
5.355
755
271,801
327
272,883
330,023
General Fund
2023
OTHER INCOME
2024
Wayleaves
Interest on tax repaytllents & sundry ineome
Howard Watson Symington Memoria5 Charity reimbwEement (Note 23)
20
19
90
2.737
2.757
Page 19

IVIAR[￿T HARBOROUGH AND THE BOWDENS CHARITY
NOTES TO THE FtNANCtAL STATELIIENrs
FOR THE YEAR ENDED 31 DECEMBER 2024
6 EXPENDITURE ON RAISING FUNDS
2024
2023
Commerelal property management
Secretarial salaries & on-COSts
Insurdllce
Repairs and maillteu8Dce
Legal & professional fees
Bad debt (recoveredyineurred
Support costs (Note 9)
Social inve5tmeJ)t property manageTnent
Insurance
Repairs and maintenance
Legal & prof¢ssion21 fees
1.920
1.869
38.684
7,966
(43)
7,909
J. 779
1. 770
267
2, 750
2,861
7.937
247
1.309
994
175
744
953
IDvestment management
Net illveslment manaEeVs feeslrebale adjustment (Note 16)
Support rosts (Note 9)
(1257)
5,565
486
5,430
Webslte & other promotlongl costs
1,528
J,412
66.691
26.564
ENDOWMENT FUND
Investment management
Net investment rnanagerfs feeslrebate adjuslment (Note 16)
Inv¢stmcDt property management fces
Support costs (Note 9)
Profe55ional fee5
(28.631)
(8.680)
2, 700
19.641
1.338
Crlcket Club- Depreelatlon of changlng rooms
4.471
5.J54
Amortis¥tion of Intangible Assets
1,650
4,519
2,3Q2
TOTAL EXPENDITtrRE ON RAISING Fuf4DS
62.172
28,956
7 EXPENDITURE ON PROVISION OF GRANT FUNDING
2024
2023
GEf+lERAL FUND
Grants to institutions Dr for specific purposes
ID$titution
Purpose of graDt
VASL
Core Running Costs for a five year period
Harborough Town Football Club
Floodlighting and solar panets
Market Harborougb Cricket & Squash Club
Changillg facilities
Market Harborough PCC
Repairs to the west tower of the ¢huTch
HO￿e-Start South Leicestershire
Family Know-How Pioject running ¢osts
Market Harborough Crick¢t & Squash Club
Squash Court roof repairs
Little Bowden Bowling Club
Solar pan¢ls
Harborougb District & Young People's Charity Operating cost oEYoung Carer's group
Hursley Park Wetland Project
CreatlOD of a wetlandlpond area
Market Harborough PCC
Churcb clock repairs
Market Harborough Cricket & Squash Club
Acoustic fence
Market Harborough Cricket & Squash Club
Girls, cricket
HIES UP Project and Enterprise Club
Room Hire, refreshments, childcare ets.
Othcr5, each £3,000 and ulldcr
43,330
27,963
25.000
15.000
10.000
10,000
9,500
7.500
6.170
5.000
5,000
3.800
3.291
15.582
187,136
180,377
Page 20

MARKET HARBOROUGH ANJ D THE BOWDEIYS CHARITY
NOTES TO THE Fif4AP4CIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
7 EXPEI¥DITURE ON PROVISION OF GRANT FUNDITrIG (contlnlled)
2024
2023
B Tougbt forward
P8rt repayment of graJ)ts pald ID prevlous periods
Dementia UK
Portion of grdnt not used in the area of benefit
Othcrs, each £3,000 and under
187.136
180,377
(8,193)
(875)
178,068
180,377
GraDts to Churcb of St. Peter & St. Paul. Great Bowden- Repairs & maintenance
1,262
070
GraDt$ to llldividuals
Educational fimd (83, 2023.. 1081
Relief iD Need £l.000 over (9. 2023: 19)
Relief in Need less than £1,000 (24, 2023= 35)
Total grants Pold
Secretarial salary & oD-costs
Communications strategyj advertising and Ivebsite development costs
Support cost$ (Note 9)
89.735
11.764
10,104
290,933
25.053
3.056
46,314
71.600
42.55J
16.790
311,988
19.226
2.824
40.065
Toknl
365,356
374.103
EXPEf4DITURE ON OTHER CHAEUTABLE ACTIVITIES
2024
2023
GENERAL Fuf+lD
S¢otl#nd End Fl¥ts:
Sccr¢tsrial salary & on-costs
tnsurance
Utilities (including lifeline)
Repairs and mailltellance
CouncÉl Tax ID void pesiod &
other miscellaneous costs
Website & promotiODal cost5
Lcgal & profession21 fees
D¢pr¢¢iation of f￿tureS & fittings
Support costs (Note 9)
9,572
1.126
18,172
146.521
8.478
1, 060
22,828
71.143
1.709
1.528
1.320
3,244
1,412
3.328
1,222
15,986
15.340
195,288
128.707
Old Gr4tnmar School: Secretarial salary & on-¢osts
Insurance
Repairs, n)aintenarLce & utilities
Lcgal & profcssional fres
Support costs (Note 9)
3.234
1,199
1,398
440
4,278
2.85LI
1.135
(J, 778)
276
4,522
10,549
7.005
Allotments:
Secretarial salary & on-cosls
Repairs and ￿a]nt¢￿anC¢
Website & promotional costs
Legal & professional fees
Water & miscellaneous expenses
Support costs (Notc 9)
7.652
25.643
1.528
880
1,183
8.758
6,699
43. 723
1.412
552
1.410
9.315
45,644
63.111
Carried forward
251,481
198.823
Page21

MARKET HARBOROUGH AND THE BOWDENS CHARITY
NOT£S TO TEtE FINANCL4L STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
EXPENDITURE ON OTHER CHAIUTABLE AcfIviTIES (eontlnued)
2024
2023
Bmugbt forward
251,481
198.823
Site of Special
Scientific Interest:
Secretarial salary & on-costs
Insurance
Repairs and rnaint¢nance
Legal & professioDal fee5
Other miscellaneous costs
Support costs (Note 9)
631
J50
167
6.875
5. 196
476
739
440
506
689
2,266
253,747
14.003
212,826
ENDOWMENT FUP
Depreciatioll of Scotlalld End Flats
50.476
4t}.278
50,476
40.278
TOTAL ALL FUNDS
304.223
253.104
9 ANALYSIS ALYD ALLOCATION OF SUPPORT COSTS
Support costs. as detailed below. havc bcell allocated to resources expended as follows:
ort Costs
Governance
Costs
Offlce
Costs
Accounts &
Finanee
2023
Total
Totol
RESOURCES EXPENDED:
General Fund:
E￿endItllre on raising funds .
Commercial property management
Invcsttncnt manag¢mcnt
1.116
1.228
5,565
5,565
7,909
5.565
7.937
5,430
Expenditure on ChxTjtable Activities:
GTants payable
Scotland End Flats
Old Gramjnar School
Allotments
sssI
16.751
5,184
1,772
3.905
328
18,434
5,704
1.950
4,297
361
11.129
4,452
556
556
46.314
15,340
4.278
8.758
689
40.065
15,966
4.522
9.3J5
739
29,056
31,974
27,823
88.853
83.994
Bases for support cost allocxtion:
Support costs are allocated between the various activittes representing resources expended on the following bases..
GoverllAnee costs
Estimated time sp¢nt on ¢2ch activity by thc Charity SCCTCtari¢s
Secretarial 5UPPOrt and office costs Estimated time spent on each activity by the charity secIelaries
Accollllts & finance
Estimated time spent on each activity by the charity accountants and Ix>okkccpcr
The ¢ost allocation includes all element of judgement as the charity has to consider the cost of detailed calculations and record
keeping compared with the resultant benefit.
Page 22

IIIARKET HARBOROUGH AND THE BOWDENS CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
9 ANALYSIS AND ALLOCATION OF SUPPORT COSTS (continued)
Governaoce costs included within support costs comprise:
2024
2023
S¢crctarial S￿ary & OD-costs
Legal 8nd prof¢ssional fees
Auditors remuneration
General insurance
Trustee indc]rJnity insurance
General ¢Kpen8¢8 (including training of trustees)
19.351
440
6.156
1,613
717
780
17.4J6
276
4,014
1,528
679
128
29.057
24, 041
10 AUDITORS, REMUNERATION
Tbe amounts payable to tbe Auditors,, Edward Thomas Peirson & Sons. were as follows:
2024
2023
For audit services
For other V¢ssurallc¢ services
6,156
23.835
4,OJ4
22,467
Total
29,991
20,481
The other assurance services provid¢d by Edward Thomas Peirson & Sons in¢luded'. preparation of the financial statements
for the year. a55i5tsllce lo thc TnJst¢f5 III th¢ fingncial tn8nag¢m¢nt of th¢ rharitys affairs by th¢ pr¢paration of quarterly
matlagement accounts. and payroll services. No member of the fLrm's audit team was involved in tbe provision of these other
service5.
11 TRUSTEFSI REMUNERAT10Tr4 AND REIMBURSED EXPENDITURE
The TNstees, who are cousidered to be the key llwiagemeut peTSOllDel, were noi r¢munerated for their services in the year
or the preceding year.
During the year no trustee was paidlreimbursed for expenses incurred on behaif of the Charity (2023: £155 reimbuTsed to
one trustee). The reimbursed expenses related to sundry goodslservices paid for on behalf of the charity.
Trustee indemnity irisuraDce is included as part of the cl]artW5 overall insurauc¢ and th¢ a￿Ount charged Én thes¢ fiDancig1
Statements in this respect is £717 (2023.. £679).
12 STAFF NUMBERS AND COSTS
The number of employees of the charity were as follows:
Activity
IDvolvemeDt
2024
2023
Secretarial Full time
Part tirne- 12 hours per week
Part time- 8 hours per week
The aggregate pa>Toll cost in respect of these employees was as follows..
2024
2023
Salarie5
Social security costs
Pension Contributions
65,224
5.036
2,188
52,204
3.857
J. 778
72,448
(5.036)
57.839
(3,857)
Emplo>￿ellt Allowance
67,412
53. 982
No ernpl0￿c had ernployment b¢n¢fits in excess of £60,000 (2023: None).
Page 23

MARKET HARBOROUGH AND THE BOWDENS CHARITY
NOTES TO THE FfqANCIAL STATEL%tENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
13 TANGIBLE FIXED A&SETS
Freehold
Allotments
Cricket Club &
Other Land
AltLshou5es
Freehold
Lalld &
ulldings
Fixture5 &
F1tt5Dgs
Offlee
Equipment
Total
Cost or V&luatio
Brought forward
R¢valuation
416,000
I J90,(N)O
45,000
28,165
22.550
2,056,715
15,000
60.000
At 31 DecembEr 2024
431.000
1.635.000
28.165
22,550
2,116,715
CutDul&tive Depreci#tion
Brought forward
Charge for the year
Revaluation
54,182
28,165
22,550
104,897
4,471
50,476
150,476)
54.947
(50,476)
109.368
At 31 December 2024
58,653
28,165
Net Book Value
At 31 December2024
372 347
1.635 000
2 007,347
At 31 December 2023
36J,818
1.5QO.000
1.951.818
Cost or valuation at 31 DEG¢mbEr 2024 15 repre5ellt￿ by.
V8luation
31 DecerDber 2024
Cost
371,000
60,000
1,590,(M)O
1,961,000
110.715
28,165
22,S50
22.550
1590 000
2.071,715
Basi5 for inclusioD in the aeeounts
Ail of the freehold properties were revalued, with effect from 31 December 2(Y24, at their open rnarket value by Fisber German LLP,
Chartered Surveyors. In addition, included within the cost or valuation of Ai1otn￿ts, Cricket Club & Other land, is £60,0(Kl reprcselltitig the
cost to the charity of its contribution, as landlord, to the construction of new changing rooms for the Cricket Club aud an extension of the
courts to its Squash section. Depreciation ofthese costs commenced on the completion of the relevant works using a strai8bt line basis over
the ren]aillin8 period of the lease.
Had the properties not been revalued they would have been ittcluded at the following historical e¢ist:
As At 31 December 2024
As At 31 December 2023
Allotment5
Cricket Club & Scotland End
Oth¢r Land
Flats
Allotn]ents
Crleket Club & Scod4nd End
Other Land
Flats
Cost
Aggregate depre¢iAtion
68,962
58,654
231,697
148,969
82,728
68,962
54,183
14,779
231.697
146.104
Net Book Value
10,308
85.593
Page 24

MARKET IIARBOROUGH AND THE BOWDENS CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
13 TANGIBLE FIXED ASSETS (continued)
Heritage Assets
In additlOD to the assets shown above, the Charity owns a 17th Century building known as the Old Grammar School, Market
Harborough. which was vested in the Charity during 2005 together with the other assets of the Mark¢t Harborough
Exhibition Foundation Charity. The Old Grammar School is a local landmark and a listed building of sigDificant bistorical
and architectural importance, which the Trustees intend will forni part of the CJ]2ritys pernrdnent endowjnent to be
n)aintain¢d and pr¢s¢rv¢d for its cultural significancc to thc towll. Prior to thc outbreak of the Covid-19 pandemic, th¢
Cl]arity made the building available for hire by the public, on a daily b&8is, in exc]wige for a specified contribution towards
the annual running costs.
There is no itrfornJ8tion readily available as to the original cost of the building and the Trust¢¢s consider that th¢r¢ are no
suitabl¢ t¢cluJiqucs availabl¢ to asc¢rtain a r¢liablc valuation for the property. certainly not without involving tbe Charity in
significant costs which would outweigb any benefit.
As a reslllt, in Accordance with the perlljitted treatment for heritage 25sets ID SORP (FRS 102) thc Old Grarntuar School is
not recognised as an asset in the Charity's balance sheet.
14 INTANGIBLE FIXED ASSETS
31-Dec-24
31-Dec-23
Cost
Bmught forward
Additions
6.932
6,932
At 31 Decetnber 2024
6,932
6,932
Cumulative Amortisation
Brought forward
Charge for Ibe year
6,932
5.282
1,650
At 31 December 2024
6.932
0,932
Net Bookvalue
At 31 December 2024
At 31 Decejnber 2023
1,650
Intangible assets represent Basic Pa￿Dent Scheme entitlements.
15 INVESTMENT PROPERTIES
General
Investment
Soclal
Investment
31-De¢-24
Total
31-Dec-23
ValuxtlOD at thr bcginning of thc ycar
Tr￿sfer from Tangible Fixed Assets
Unrealised gainsl(losses) on rev&luation
2.736.000
175,000
2.911.000
2, 767,000
128,439
s4,0￿1
15,000
69.000
15.56]
Valuation at th¢ end of the year
2,790,000
190,000
2.980,000
2,91J,OQfl
Historical c05t at the end ofthe year
562,312
257,469
819,781
819, 781
The g¢ncral invcslrn¢nt properti¢s cornpris¢ variou5 parrc15 of laud and four retail shops. of which three have b¢¢n
collverted into onc, situated in High StrceL Market Harborough. A fornial open market valualion of these assels was
undertak¢n by Fisher G¢rnw] LLP. Chartered Surveyors as at 31 De¢emb¢r 2024 and is incorporated in these financial
stst¢meDts.
P&ge 25

MARKET HARBOROUGH AND THE BOWDENS CIIARrrY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
15 INVESTMEiYf PROPERTIES (continued)
The Land in the ¢haTitys ownersbip includes..
Approximlltely 116.65 acres of farm land which is let in the year ou a seasonal ￿azillg li¢¢n¢¢. Tbe property is subject to a
restrictive covenant in favow of two predecessors in title whereby, in the event of any subsequent ni)n-a￿leultllra]
development being permitt¢d. the charity will b¢ requI￿d to pay 33Q/y of any deflned increase in value. The covcllanl eK*nds
to forty y¢ars from the date of ￿ant.
Laud situated a short distance to the nortb of Great Bowden village comprising 13.03 acres of gr8ssland. which is let OD
seasonal grazing liccnccs, and 6.45 acrc5 which has been designated a Site of Special Scientific Inteiest ("SSSI"). The SSSI
15 subject to control by English Natute and the charity works closely with the Leicestersbire and Rut12nd Wildlife Trust in
ensuring that the ecological value of tbe siie is protected and where possible ¢nbanced. This land is subject to a similar
restrictive Covenant to that described above in relation to the farrn land.
Two sn]all pernianent pasture paddocks situated close to the weslcrn fringe of Market Harborough town. One of these
paddocks is subj¢ct to a fifty-year covenant in favour of the predecessor in title which commits the ¢harity to pay away 33 %
of any uplift in value as a result of subsequenl developrnent beyolld agricultural use. and
Various strips of land retsined by the charity following previous significant land salrs. C¢rtAtn of these strips provid¢ a
Possible means of iccess and services from adopted highways into potential developmettt land which is not within the
charitys ownership. In partieular, a devclopcT has rcccntly cxprcssed an infrrest in renewing a previous option (now
expired) granring th¢m the right to acquire the ransom strip in the event that the developer obtains pla]]ning permission for
development OD certain adjacent propety, entry to which would b¢ serviced over the ransom strip. However, at th¢ present
time in view of the uncertainties affecting their value. the Trustccs hav¢ decided llot to attribufr any value to thcm in these
financial 51atetnents.
16 INVESTMENT PORTFOLIO
31-Dec-24
31-Dec-23
Market value at the beginning of the year
Acquisitions at cost
Acquisitions by way of rcbatcd maniEees fe¢s
Sales proceeds from disposals
Realised gainsl(losses) on disposals
Unrealised gain￿(lOSses) on revaluatiou
16,364,979
15.336.930
29,888
(15.336,930)
695,233
537,924
15.236,396
17,990,452
JP.303
(17.608,034)
3.885
716,977
17.628,024
16.304.979
Cash at bank on depositlawaiting invesknent
Market value at the end of tbe year
17.628,024
16,364,979
Htstorical cost at th¢ end of the year (excluding ¢ash)
16.841,485
12.845,647
The realised gait￿(losses) on disposals are shared between fvDds
as follows..
General ￿nd
Endowment fund
29,231
666,002
8,183
(4.298)
695,233
3.885
The unrealised gains/(loss¢s) on disposa]s are shared between
funds as follows..
Generdl fjjnd
Endowment fijnd
22.617
515,307
30, 145
686.832
537,924
716. 977
Page 26

MARKET HARBOROUGH AND THE BOWDENS CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
16 INVESTMENT PORTFOLIO (continued)
31-De¢-24
31-Dec-23
MaD#ged by Mercer
Mcrcer Absolute Return Fixed Income Fund
Class
AI 7H5200DGBP
470.93tS
568.629
2.91/
Mercer China Equity Fund
Mercer Diversifying Alternatives Strategies
M¢rcer Dynatnic Asset Allocation Fund
Merc¢r Dynatnic Asset Allocatiou Fund
Mereer Ejnerging Market Debt Hard Ccy Fd
Mercer Emerging Market Debt Hard Ccy Fd
M¢r¢er Fundamental Index Glob Equity CCF A1806GBPGB6
Mercer Global Small Cap Equity Fund
M-3 GBP DIS
Mercer Low Volatility Equity Fund
Merc¢r Multi-A5set Credit Fund
A1504000DGBP
O.OOO/o
I-IGBP HEDGE
2.144,440
1,611,355
976.324
1.611.470
9.85OA
A1705000GBP
O.OO/o
A17H5200DGBP
3, 136. 165
562.694
A1907000DGBP
3.44Y
Z2H00200GBP
775,597
o.oo/
398,449
494. 769
2.43/
718,965
3.02¥0
M-3 GBP DIS
3J4.gJ3
1,s)89,024
688.506
A1504000DGBP
2.086,185
212,919
1,178,278
Meicer Passive Global RErrs UCITS CCF
A17H52DGBPG4
1.21/0
4.21/
Mercer Passive Sustain Gbl Eq UCITS CCF
Mercer Sustainablc Global Equity Fund
Mercer Sustsinable Global Equity Fund
M-I GBP Hdg
Mercer Sustsinable Listed Infra UCITS CCF A1705DGBPGB6
A17050GBPGB6
0.00%
AI 705000DGBP
978,034
494.642
5.98/
318.396
1,018,465
379.022
J.95Yo
Mercer Synthetic Eq-Lillked Dynamic Bd Fd CLASS M-3GBP
Mercer ucrrs Altematives Strategies
M-I GBP Hdgd
MGI Emerging Market Debt Fund
M-2 GBP DIS
MGI Emerging Markcts Equity Fuud
MGI Eur020ne Equity Fulld
MGI Eurozone Equity Fund
MGI GLOBAL BOND FUND
699.251
508.147
1,235.255
168.142
AI 605000DGBP
775.406
4.40Q/o
7.55%
CLASS M-IGBP
M-2 GBP E&DG
486,231
2.97/0
M-2 GBP Hdgd
CLASS M-IGBP
1.486,485
2.853,391
663.353
917,477
528,598
8.43/0
0.00%
MGI GLOBAL EQUITY FUND
MGI GLOBAL EQUITY FUND
MGI P&ssive UK Long Gilt Fund
MGI UK CASH FUND
16.lv/o
M4GBP HEDGE
A1605000GBP
o.ooo/
CLASS M-2GBP
O.OOYf*
MGI UK EQUITY
CLASS M-2GBP
477.090
2.93Y
17 628,024
16,564,979
JOO.OOA
The investmettts in tbe portfolio are carried at their fair value which is the bid price for units in common investrllellt fjjnds. unit
In￿lS and opcn-cndcd illvcstmcnt compauics. Invcsttnrnt salcs and purchases r¢cogniscd at th¢ date of trade al their transaction
value. net of costs in the respect of sales and inclusive of costs in respect of purchases.
Each of the investment funds levies chaTges which are used to pay for the cost of running the fund. including the costs of rtwketing
and distributing it. These costs are not borne directly by the Charity ￿d. tberefore, are not reflected as an expense in these fiDaDcial
statements. However, such charges reduce the potential growth of the invest￿ellt fulld. The fund manager5 have advised that the f¢es
deducted tn the financial year to cover both Mercer and UJLderlying sub-investment managers fees amount to £123.321.
Certain of these charg¢s have b¢¢n rebat¢d to the Charity by way of the provision of additional units in the fjjnd at no cost to the
Charity. The DOtIODal cost of the new units acquired is ffflected io the financial statements as an investment pur¢base and all
equivalent reduction ill operating expenses.
Pag¢ 27

MARKET HARBOROUGH AND THE BOWDENS CHARITY
NOTES TO THE FINANCL4L STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
16 INVESTMENT PORTFOLIO (contlnued)
All investments are basic financial instsvments traded on quoted public n￿rkets. The Ch2rity does not make use of derivatives
and similar complex financial instrulnents as the Trustees take the view that investment5 ￿ held ft>r their longer terni yield and
total re￿rn and that any short-terni volatility in the tnarkets will normally be corrected in any five year period.
Investment rettjrns are exposed to various risks wbicb include crediL liquidity and tnarket risks. Both credit and liquidity risks
are assessed as low as the Charity invests predominantly in blue-chip securities ID which the failur¢ rate is hi5tOriC2lly low and
all investments are traded on markets in which central batth and other regulators bAve an Interest in ensursng continuation of
orderly trading.
Market risk is th¢ priticipal risk faced by the Charity due to a ¢ombination of uncertainty in investment markets and volatility in
yields. These factors are of particular relevance to the Charity as it is IelianL in part, on dividends and int¢r¢st to finance its
grant making activities. As many of its collective investment funds include significant holdings in international equitics and
boDd5 whicb arc d¢nominatcd in forcign currencic5, thc Cbarity also has cxposurc to cxchange rate risk.
The Truste¢s manage these risks by retaining the expert services of a fund manager, as shown in the above analysis of the
portfolio, and ID operating an investtllellt policy which provides for a bigb degree of diversification of holdill8S Witbin
itivestn)ent asset classes providing for a balance of income 2nd long-terni capital growt]L
17 DEBTORS
31-Dec-24
31-Dec-23
Accrued income
Prepa)Inents
Other Debtors
tn¢ome tax r¢cov¢rable
2,651
5,228
1,900
3.544
13.323
7,425
7,830
12.304
3,544
31.103
Accrned income includes £2.641 (2023.. £7.185) and Income tsx recoverable includes £3,544 (2023: £3.544). which is
attributable to cash flows from investing activities.
18 CREDITORS PAYABLE WITHIN ONE YEAR
31-Dec-24
31-Dec-23
Accruals
Other cr¢ditors
Taxatton & SD¢ial Security
81.123
56,890
873
40.134
11.854
915
138,886
52.903
Included within the above are grants payable with a total value of £13,585 (2023: £6,055)
Other creditors include £18,444 (2023.. £3,850) which is attributsble to cash flows from investing activities.
Page 28

MARKET HARBOROUGH AND THE BOWDENS CHARITY
NOTKS TO THE FINANCIAL STATEMENTS
FOR THE YEAR Ef4DED 31 DECEMBER 2024
19 sTAT￿mIl￿ OF FUI¥4DS
Re&ii8ed and Transfers
Unreali8ed
Oains or
(Losses)
Tr8nsfer8 to
Designatsd DesigD8ted
Fulld8
At31
December
At l Jan￿￿ry
come
Bxpenditur&
2024
Unre5tr1¢ted
Gen¢r81 fiittds
Rovenu
834,484
483,807
(685,794)
66,848
303,370
(165271)
837.444
Designated fvnd#
For Grants.,
Cboritable Eranls
Church OL St. Peter &
St. Paul, Gr¢at Bowd¢n
Relief in Need grm
Edu¢&tional grattts
93,475
(187,135)
95,721
2,061
SD.(MM)
50,000
90,000
20,090
90,(M)O
46,775
{96,235)
69550
FOT Rep*ir8:
Allotments & Conllnercial
Pmperties.,
Bxtraorditwy tepalr
Scotland End Flats:
Bxtraordinary repair
Old GTanm]ar School:
Bxtraord1n￿Y repalr
R¢stri¢ted fulld:
30.(KN)
30,000
40,1
(20,000)
20.000
iO,(MM)
10,000
Incomo fwid
10.352
20,401,575
10.352
21,701,403
ndowme]rt fulld
{45,957)
1245.785
21606 661
483.807
731751
1412 633
22 771350
Ceneral Sullds are unrestricted funds that the Tn￿te¢S free to use in accordance withthc objects of the cbarity.
Desigllatsd Vunds are w]restrict¢d fi￿dS that h&v¢ be¢n ¢aTJllark￿ by th¢ TTUSt¢¢s for particular purpo￿. The80 PUTpo8es fall
fitrto two cat¢gOTi¢S: th¢ payn)ent of 8rauts' alld fAkn r¢pasr8 and D)aiot¢Jwi¢¢. Sp¢¢ifi¢￿tyth￿Y are as follows:
Cb8ritabLe Grants:
The eh&rit&ble grants relth to amounts pledged bytbe Trnstees for charitsble purp)ses where no billding commltmwrt exist8 atthe
balallce sheet dat& TTonsferB are m&de to this fi]nd fron) the general furtd for amoutLtspled8ed in the yeArwhich have not been paid
by th¢ year ￿d, A transfer 18 made frorn this ￿lld to the general for Amounts pledged in previous years which have eitherbe¢n
paid in the year ￿where the pledge has been wIthdraM￿.
Clllwch of SL P¢t¢t & SL F￿vI, GreatBowd¢n'.
Ono of the Cbarity's objectB 18 tho nmititenanee and repair of tbe ￿ric of the Padsh Church of the eccle8i98t£cal pari8E of St. Peter
hnd St. Paul, Great Bowden. The iticome to be applted for this piirpose niiist not exced 20O/fj of the C]wltys incolne ill any three
year period. A (k8ignated r¢sorve for the pwpose of n￿ett￿ this expenditure is m&int&ined at a level to enS￿e tbat the charity ha8
Suthcient fund8 to meet its ongoing obligation8 bR&ed on ftdvic£ ftom representatives of the P.aC.
Relief in Need gr&th:
The oharity makes donations to IndividL￿]8 to relieve hArd8bip and distre54 which aro referr￿ to as Relief inNged grants. In
order to ensllre that sufficient funds llre avallable to contlnue to meet such needs, the Trwtees have llgreed to mairtt&in a reS￿ve
dpproxin]atdy equivaIentto the Relief inN¢ed ￿18 paid Én tbe laBt three years.
Page 29

MARKET HARBOROUGH AND ThE BOWDENS CHARITY
NOTES TO THE FIIYANCIAL STATETh(ENTS
FOR THJI YKARENDKD 31 2024
19 STATEMENT OF FiJNDS (eontlnuL¥I)
Edu¢atiODal grpntj and bUrsaryfiu￿s,.
The Trllstee& invite applicatlons from individuals for a88i8tanL¥ with tuition ftes and expenses for a first d¢￿e F4t a British
ulliversity and for equipment and ¢0sts &850cl￿ed with apprenticeships and Vocation￿ trailling. A is maintainod at a value
which will enable the oharity to meet is obli8ations to pay the of tho Bucc4%sfv1 applicants oveT the rem&iLder of their
cour8e&.
Repair fimds:
The Extraordinary liepairFwid8 &re established fo ¢ov¢r th¢ ¢08t of non routine mailltotwi¢e of the charltys propertiOS.
Separate repair funds are nkqintained in res￿¢¢ of: tbo Allotjnents & Comm¢rGial Properti¢y" alld t￿ Scotlatsd End Flats.
Amoullts are tsallsfrnrd to these fimds ar¢ released b￿k to the G¢n¢ial Fund a5 the TTU5t¢e8 con8idei aPPToprAate lo off8et
tbe cost of non routine m&int¢nall¢¢ on the prop¢riie8. Ite aggregats f￿￿9 are to be n]aintain¢d botween 8 minlmum of
£50,IM)O and & n￿xim￿n of £lOO,000,
An extraordinary repair fulld is mainiaiDgd fi>r tbe Old Gram￿ Schwl. The Old Grammar S¢knol i8 art aiicient builditig
wbi¢h 18 io regular lle￿1 of maintrJJ&nce repair. Following & rn￿or restoration project which wa8 cornpleted during 2014,
the Gurrent ongoing CA)mmitnKnt for oxp¢nditure has been 8llbstsntially redueed a￿1 this is reflected in Ibe level of reserves
nwlntained forthis purpose.
Restrlcted Jllcome fullds represent Iljnds donated lo the Charity by the Market H￿rE￿oUgh hIusicg1 Tlwtre on the
)d￿Sts￿ding that th¢y to b¢ apptied to sw)port p¢rEoTming arts in th¢ 8[¢4 of benefit,
Tho Endowment Fund represents the p￿rnallent capital of the Charity. These fw)d8 mugt be held illdefmitely aLd the Trll8tr£8
have no p)wer to col￿ert the capital lllto fimds which maybe spent.
Tho tTh)vemonts in funds its tho pr¢Yious fman¢ia] yw were a8 follows,.
Rdiwl aDd Tran8fers
Unreali8ed
Transf¢TS to
At31
Gains or De8ignated Desigrjated D¢c¢mber
(L088e8)
Fund&
2023
Atl
JaI￿ary 2023 Jll¢Om¢
Expendi
Unre8trlcted ￿lld8.
General funds
Revenuc
781,626
546.523
(613,493)
84,889
250,899
(215960)
834,484
Deslgnated thnda
For GraDts'.
Chuitable 81
Churcb of. St. Peter &
SL PauL Great Bowden
Rdiefin Need grants
Educ&tion&l gLallts
For li¢paits',
AllottnentB & Commerniai
Propertles:
ExtrRordiLary repair
S¢otlad End Flats..
ExtraoTdillary rep&ir
Old (}raMt￿ sChL￿1.
131,064
(179,299)
141,710
93,475
50,000
50,0(KI
,0
46,775
90,000
44,125
(71,600)
74250
30,000
30,OINJ
40,000
10,000
10,0
CarrieA forY￿rd
1,176,815
546,523
{613,493)
84,889
1,194,734
Page 30

MARKET HARBOROUGH AND THE BOWDENS CHARITY
NOTES TO THE FINANCIAL sfATEMENTS
FOR THE YEAREI4IDED 31 DECEMBER 21i24
19 STATEMENT OF FUNDS (conthiued)
Reali3¢d Transf¢T8
Unrealised
from Transfo￿ to
At31
Gaitts or
Designated Deslgnated D￿ernber
Bxponditur¢ (Losse5)
Atl
Jalluary
2023
Tncomc
2023
Unregtrlcted funds:
Brought forward
1,176,815
546.523
(613.493)
84,889
1,194,734
Restrletsd fund:
Income fund
10,352
10,352
Endowment fiTnd
19,558.877
(42.670)
885J68
20,401,575
20 746.044
546523
656.163
970,257
21.606,661
20 ANALYSI8 OJ¢ NKT A&SKfS BKTWKEN FUNDS
Ay 4t 31 December 2024
General Dujgnated Restrlcted Xndowment
Fund
Furtds
Fond
Total
Tangibl¥ fJx¢d a8sets
tAtan￿7)lefXed agsets
tllvesttllentpropertie8
tnve3tsnebtporLfolio
Cpshh¢ld for inv¢slm¢n¢
SundryDebtor8
Cash at Bank on Ileposit
Cgsh Ill hattd
c￿rent Liabliiti¢s
2,007J47
2,007,347
190.000
519,019
2,790.000
16,886,854
2,980,000
17,628,024
222,151
13.323
243,616
472
(128.986)
837.444
13,323
281,070
472
(138,886)
22,771.350
10,352
27,1￿2
(9.900)
10 352 21.701.403
Total Not A£s¢ts
222.151
As at 31 December 2023
General Deslgnated Restrleted Elldowment
Fund
Funds
ieund
Fund
Totsl
Tangible fixed as&ets
tntangible r￿ed assets
Investhmttproperties
Mvestmentportfolio
Cash kld for Inv¢stment
Sulldry Debto
Cash at Bank on Deposit
Cash in hand
CurretttLlabllities
1,951,818
1951,818
175,000
327.815
2.736,000
15,676,914
2,911,0(K)
16264,979
360250
31.103
351,924
195
(51,553)
834 484
31,103
400,469
195
(S2,￿3)
21606 661
10,352
38,193
(1,350)
10 352 20 401575
Totsl Net Assets
360 250
Page31

IWIARKET HARBOROUGH AND THE BOWDENS CHARrrY
NOTES TO THE FINANCIAL STATELKENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
21 OPERATDIC LEASE COMLVAITMENTS
The total minimum lease payments to which the C]wity is conllllitted under an operattng lease for office equipment ig shown
b¢low:
31-Dec-24
31-Dec-23
Payments due in respect of leases expiring".
Within one Year
In two to fiyc years
Total
2,114
2,114
Lease payllLents recO￿ls¢d as all expense ill the Statement of Financial Activities amoullted to £529 (2023: £573).
22 OTHER Flf4ANCIAL COMMITIIIENTS
Commitments for the acquisition of tangible fixed assets. which were contracted for but not provided in the fin8ncial
statements, amowit¢d to £Nil (2023: £Nil).
23 RELATED PARTY TRANSACTIOIYS
At various titnes during the year the Charity has r¢¢¢iv¢d 8ppli¢ations for 8r8llts from other charitable organisations which
bave certain trustees in common with tbe Charity. In accordance witb the Charitjls procedures. the r¢lcvant trustees declared
their interest and did not take part in any of tbe discussions relating lo tbe grant application.
The Charity is related to the Howard Watsou Sytnington M¢morial Charity - Charity Number $12708 ( HWSMC") by vtrtue
of having two trustees in common. During the year the Cbarity employed a new part-tirlle member ol staff who has been
eng2ged enttrely in supporting HWSMC'S administration 2nd ￿allt makillg activities. HWSMC reimbursed the Charity
for the direct ejnployjnent related costs of the ¢mploye¢. which amounted to £2,737. No unpaid amounts were outstanding at
31 Deccrnber 2024.
Page 32