2024-12-31-accounts

THE CHARITABLE INCORPORATED ORGANISATION OF JAMES SOUTH AND WILLIAM BURBERRY

Chairman of Trustees: Dr Alec MacAndrew

ANNUAL REPORT/RETURN AND ACCOUNTS 2024

1. This report incorporates the charities’ annual return and set of accounts covering the year from 1 January 2024 to 31 December 2024.

2. The Charity

The Charitable Incorporated Organisation (CIO) of James South and William Burberry No. 1194471 came into existence on 14 May 2021, following approval by the Charity Commission. The Charity was previously the Almshouse Charities of James South and William Burberry – No 810227 (also known as the Buckden Parochial Charities) which operated as one charity from 11 October 2008 until 13 May 2021. The Almshouse Charities of James South and William Burberry has now been wound up.

The application of income from the CIO will be for the benefit of the beneficiaries of the Almshouses (including the Burberry Homes) collectively or individually.

3. 2024 Annual Accounts and Notes

These have been accepted by the Trustees at their meeting on 6 March 2025 after having been subject to an independent examination and are submitted with this report. Those wishing to study them in detail may obtain copies from the Clerk to the Trustees. They are also available on the Charity Commission website.

Income: Total income for the year 2024 was £119,618. This includes income from the rental of the former Warden’s residence which has been rented using the services of a property agency.

Expenditure: The bulk of the spend was on Utilities, Repairs and Maintenance and the Warden. £21,968 was spent on maintenance and £44,585 on Administration and Utilities and the Warden. This is a decrease of nearly £38,000 on 2023 due largely of the decreases in gas and electricity costs.

Maintenance Fund

The balance at the end of the year was £44,551.

Extraordinary Repair Fund

The balance at the end of the year was £213,801.

Fixed and Current Assets (Shares)

Investments are managed by CCLA and M&G Securities on behalf of the Charity. On 31 December 2024 the value of the two holdings was £932,758, a gain of £31,638 on 31 December 2023. There was £106,795 in the bank account.

4. The Almshouse Association

The Charitable Incorporated Organisation (CIO) of James South and William Burberry is a member of the Almshouse Association (membership no 710).

5. Trustees

Co-opted Trustees (appointed for a 5-year term) Mr John Molyneux Mr John Thelwall Vice Chairman Mr Richard Noble Mrs Angela Bruce Mrs Margaret Murray-Smith Mr Kevin Clark

Nominative Trustees (appointed by Parish Council for a 5-year term)

Mrs Betty Millard Dr Alec MacAndrew Chairman

6. Meetings

A total of four Ordinary meetings and two Additional meetings of the Trustees were held during the year.

7. Officers of the Charity

Clerk to the Trustees: Mr Joe Greenway 2, St.Hughs Road, Buckden, St. Neots. Cambs. PE19 5UB, Tel. [phone].

Treasurer: Mr Alistair Henderson. Contact details available from the Clerk.

8. Location

1 to 8 The South’s Almshouses and 24 to 36 Church Street (Burberry Homes) situated in Church Street, Buckden, on either side of the Methodist Church. There are 15 one-bedroomed flats in total used as almshouses. In addition, the Charity is responsible for the former Warden’s home, 38 Church Street, and owns land let as allotments on the western side of the A1, south of Buckden roundabout.

9. The Warden

The Warden is Mrs Barbara Herlihy who lives within a 10-minute drive of the Almshouses. It is the Trustees wish that her contribution to the Charities and to the welfare of the beneficiaries is acknowledged.

10. Activities during the year

• a. Trustees continued to make slow, but purposeful progress on the strategic review of the charity’s estate. Trustees engaged the services of a Quantity Surveyor to cost the new build project. Upon receipt, the QS report was subject to value engineering by Trustees and its appointed architects to bring the project cost to within the proposed overall project budget.

Trustees then unanimously passed a resolution to submit a full planning application once an option agreement to enable the CIO to acquire the freehold title to the land in entered into.

• b. Another successful Open Forum for beneficiaries was held in the Methodist Hall, on a warm afternoon in July. Beneficiaries and Trustees find this to be a worthwhile event.

• c. Trustees installed a defibrillator on its premises for emergency use.

• d. Trustees commissioned a quinquennial structural survey of its two properties in the summer of 2024 and the report was received in December 2024. The Estates Committee of Trustees will be reviewing the recommended actions during the early part of 2025.

11. Weekly Maintenance Contributions

At the October 2024 meeting the Trustees decided to increase the WMC for 2025 such that it is at 79% of the median private rental for similar properties in the area. However, the WMC includes the costs of utilities and if utility payments by the Charity are deducted from the WMC collected the ‘equivalent’ rent paid by beneficiaries is circa 60% of the median.

12. Vacancies

The Trustees regret to report that two of its beneficiaries passed away in 2024 and another beneficiary became unable to look after themselves safely and moved into a care home. He has also passed away and Trustees offer their condolences to friends and relatives. Finally, a beneficiary left to move to be nearer their relatives. Three of the four vacancies that resulted were successfully filled during 2024 and one flat in the South’s Almhouses remained vacant at the end of 2024.

13. Medical, paramedical, social services and volunteer support

We must record the gratitude of the beneficiaries and of ourselves for the unstinting support received from so many sources: carers, ambulance staff, physiotherapists, chiropodists, hairdressers, and Buckden Surgery in particular.

Joe Greenway, Clerk to the Trustees for the Trustees of the CIO of James South & William Burberry

March 2025

Charity Number: 1194471

W••kly M¥FrtsnW￿ Contn"t￿bts￿ 39.823 429 40,467 39.312 l56f 4004 6M7 42.918 4&52 43.661 39.312 lJtilth"e8. Ga¥. Water & Eledr 7,070 1&51T 12.1196 22.623 Warl8n's ttts. ¥ee Nole 1 4.4fT6 4.4T6 10m a038 10M9 13.419 211 42.031 4Q518 SurphJ8 for year erKJirg 31.12.24 to Gen I&E A(xount bd 37 20.719 16.327 GENERAL INCOME AND EXPENCTLff¢E ACCOUHT fvr th• YEAR EIIDED 31.112024 Acomulat•d •t 31.12.rJ 7.1SS Surplus lor 2024 as abob 37,011 t￿￿￿¢￿￿ IncKMne 22,14• 21.631 Rental IrKgrn 4378 42.015 98,213 Transfwto maIntenar￿ Fw 14¢ Trnnaferto ERF AcoJmulat•d •t 31.12.24 transferred to balanc• sh•ot ¥213 .011 Th• CIO of Jthn•• South and Wllll•rn Charlty Numb•r 1194471

Malnt•n•ne• AcGOWrt •thd Exlr•rydlnary R•p•lw Fund l ERF) 2023 IAAINTENANCE FUND Op•nlng b•lan￿ ￿ 31.12.23 37.882 Burbèrry Hc 44,551 51,882 EXPENDITURE DURING YEAR maintenan￿ Wclk 17.519 21. I&T41 Clo•lng b•l•nc• •t 31.12.2024 22.582 37M2 EXTRAORDINARY IIEPAIR FUND IERFI (The ss a CoprtAI Re8eMI to te wd at of ts TnAtegS NAACIF Acujnulatrve Shares IPwclw•J 1971 b 20191 M8thet value ol Shares at 31.12 2￿￿3 Adjustrnt of Sharn value in sar M8¢kat value ol shares at 31.12.24 Nurt*r of Sharos 11785.915 } 197,928 186,358 15.873 11.570 213.001 197,928 VALUE OF ERF FUND 31.12.2024 213.801 197.920 Pa90 2 Th• CIO of Jam•• Soulh and THllllarn Burb•rry: Charlty Mumb•r 1194471

Th• CIO olJ•w South •nd Wllll•m Buthrry B•l•nc• Sh••t at 31•t D•wnber 2024 24 Flx•d AM•ts 44,799 Current A•••ts Fund8 for Ge1￿81 Purr) 674,157 ERF 213.802 197 Ca8h in Bank 106.795 1,039,553 PROVISIONS Futuiè Maintenanc8 22.582 EXCESS ASSETS OVER UABILMES 1.016.971 929 FINANCED BY. CAPITAL RESERVE Pemianent Endowment ERF 44,799 213,802 $45.313 16,287 59,610 18.469 34.499 44 197. &33, 15, 5T, IT, J.Cole Benefaction e Grant The Reeveman Grant Property FurKI GENERAL RESERVE 84.213 2& 1.016,971 929, Pay3 John TheWI Chaiman 8etty Millard Twust8è Ali$tair HerKlerson Trea8urw lo tt￿ Tfuslees Th• CIO ofJ*w South 7Hlliarn ￿thIry.. Charlty 1194471

I ne Liu ot J•in•s South and Wllllam 8uTi Man•gement Account and Inv￿ljnQnt Note• Note• 1 and 2 to th• Accounts Not•1 MANAGEMENT AND ADMINISTRATIVE EXPENSES 2024 2023 The Almshouse ASS(￿1￿ Membernhip Insurance of Buildings Audit Fees Ckrk Solicitors Fee Professional Fees Trustee Mtgs Christmas Grfts for Benenficiaries Lifelines Sundry Costs WMC refunds Gardener Reftbnd for payment in error 477 1.837 420 1.575 477 1. 799 420 1,636 6,979 15,395 211 325 3,346 65 425 3,340 1.194 1.638 3,150 1.575 4.836 21,178 Total 35,457 WARDEN'S EXPENSES Salary Total 9.077 8,952 Note 2 INVESTMENT NOTES Investments are shovffl in the ACc￿nts at their market value at the Balance She8t date of 31st December 2024 and the income arBing for the year i8 shwi in the General Income and Expenditure account on Page 1. Valu• of Invutrn•nts Listed In¥￿IMents At 31 Decembgr 2023 Net Valuation Gains At 31 December 2024 1,120 31.638 932,758 Pw4 Th• CIO of J•m•s Styrth and Wllllam . Charlty Mumb•r 119471

Independent Examiner's Report

To the trustees of The CIO of James South and William Burberry

I report on the accounts of the Trust for the year ended 31 December 2024, which are set out on pages 1 to 4 together with notes 1 to 2.

Respective responsibilities of trustees and examiner.

The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under Section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

• Examine the accounts under section 145 of the 2011 Act

• To follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and .

• To state whether particular matters have come to my attention.

Basis of Independent Examiner's report.

The accounts have been prepared on a receipts and payments basis.

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

Independent Examiner's statement

In connection with my examination, no matter has come to my attention

1. which gives me reasonable cause to believe that in any material respect the following requirements have not been met:

2. to keep accounting records in accordance with section 130 of the 2011 Act, and

3. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act and

4. which in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Peter Barlow Thomas Quinn Chartered Accountants The Station House 15 Station Road St Ives Cambs PE27 5BH Date: 26 February 2025