**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. 01480 810603/07745889759. 

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 tt*ts. ¥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 EXPENC*TLff¢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
Adjustr*nt of Sharn value in s*ar
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: 

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

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

2. 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