2025-12-31-accounts - The CIO Of James South And William Burberry

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THE CHARITABLE INCORPORATED ORGANISATION OF JAMES SOUTH AND WILLIAM BURBERRY

Chairman of Trustees: Mr John Thelwall

ANNUAL REPORT/RETURN AND ACCOUNTS 2025

This report incorporates the charities’ annual return and set of accounts covering the year from 1 January 2025 to 31 December 2025.

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 been wound up.

The income of the CIO will be applied in accordance with the Objects set out in the Constitution.

3. 2025 Annual Accounts and Notes

These have been accepted by the Trustees at their meeting on 12 March 2026 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 2025 was £124,367. 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. £18,476 was spent on maintenance and £47,453 on Administration and Utilities and the Warden. This is comparable with 2024.

Maintenance Fund

The balance at the end of the year was £23,121.

Extraordinary Repair Fund

The balance at the end of the year was £248,868.

Fixed and Current Assets (Shares)

Investments are managed by CCLA and M&G Securities on behalf of the Charity. On 31 December 2025 the value of the two holdings was £952,298, a gain of £19,540 on 31 December 2024. There was £163,233 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

The Trustees report with deep regret the death of their longstanding Chairman, Dr Alec MacAndrew, in March 2025. He did an enormous amount of work for the charity and always kept the welfare of the beneficiaries at the fore front of his mind. He will be greatly missed.

Mr Kevin Clark and Mr John Molyneux resigned their trusteeships citing pressures of work. Their knowledge and skills will also be missed.

The Trust Board has been successful in recruiting two replacement trustees and are hopeful that another will be recruited in 2026. The composition of the Trust Board is now:

Co-opted Trustees (appointed for a 5-year term)

Mr John Thelwall Chairman Mr Richard Noble Mrs Angela Bruce Mrs Margaret Murray-Smith Vice Chairman Mr David Thomas Mrs Loraine Hilton

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

6. Meetings

A total of four Ordinary 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. 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 Charity 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 had to manage the impact of a possible flood risk sequential test and the need for an electricity substation. These have proved to be unnecessary and, to further mitigate any unlikely flood risk, the precise location of the desired building in the proposed site has been moved slightly. Trustees agreed to submit a second Pre-Planning Application to the planning authority to get a view as to whether the revised design is likely to get planning permission.
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. The Estates Committee of Trustees successfully oversaw the completion of all the remedial Annual and Year One actions recommended by the Quinquennial survey of its two buildings.
d. As referred to above Trustees successfully recruited two new Trustees during 2025.

11. Weekly Maintenance Contributions

At the October 2025 meeting the Trustees decided to increase the WMC for 2026 such that it is at 82% 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 one of its beneficiaries passed away in 2025. One flat in the South’s Almhouses remained vacant at the end of 2025.

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 2026

Charity Number: 1194471

The CIO of James South &William Burberry Property Revenue Account and General Income and Expenditure Account South's Almshouses Burberry Homes Income 2025 2025 Weekly Maintenance Contribution 46,647 39,823 42,080 40,457 Wayleave , Allotments , Refunds & Communal Utilities 1,216 3,094 1,165 3, 094 Income Total 91,108 47,863 42,916 43,245 43,551 nditure Utilities - Gas , Water & Electricity Warden's costs - see Note 1 12,551 7,070 10,322 12,096 4,602 4,539 4,602 4,539 Management Costs - see Note 1 9,695 10,589 9,695 10,589 Expendlture Total 51,467 26,848 22.198 24,619 27.224 Surplus for year ending 31.12.25 to Gen. I&E Account below 39.641 21,015 18,626 GENERAL INCOME AND EXPENDITURE ACCOUNT for the YEAR ENDED 31.12.2025 Accumulated Reserve at 31.12.24 84,213 28,015 Surplus for 2025 as above 39,641 37.046 Dividend Income 22,798 22, 146 Rental Income 11,006 98,213 157,112 Less Transfer to Maintenance Fund 15,000 14,000 Transfer to ERF Accumulated Reserve at 31.12.25 transferred to balance sheet 142,112 84.213 Page 1 The CIO of James South and William Burberry . Charity Number 1194471

The CIO of James South and William Burberry Maintenance Account and Extraordinary Repair Fund ( ERF) 2025 2024 MAINTENANCE FUND Opening balance at 31.12 .24 Transfer from Propety Revenue Account Souths Almshouses 22,582 30,551 Burberry Homes Transfer from General Income/Expend Account 15000 37,582 44,551 EXPENDITURE DURING YEAR South's Burber Maintenance Work 6,190 8,270 14,461 21,968 Closing balance at 31.12.2025 23,121 22,582 EXTRAORDINARY REPAIR FUND (ERF) (The fund is a Capital Reserve to be used at the discretion of the Trustees to meet the cost of major structural repairs or improvements) NAACIF Accumulative Shares (Purchased 1971 to 2019) Market value of Shares at 31.12.2024 213,801 197,928 Adjustment of Share value in year Market value of shares at 31.12.25 35,067 15,873 248,868 213,801 Number of Shares held (1765.915 ) VALUE OF ERF FUND 31.12.2025 248,868 213,801 Page 2 The CIO of James South and William Burberry: Charity Number 1194471

The CIO ofJames South and William Burberry Balance Sheet at 31st December 2025 2025 2024 Fixed Assets Notes Permanent Endowment 43,337 44, 799 Current Assets Funds for General Purpose ERF 660,091 674, 157 Page 2 248,869 213,802 Cash in Bank 165,233 106, 795 PROVISIONS Future Maintenance 1,117,530 £ 1,039,553 Page 2 23,121 22, 582 EXCESS ASSETS OVER LIABILITIES 1,094,408 £ 1,016,971 FINANCED BY: CAPITAL RESERVE Permanent Endowment ERF E.W.Worlege Benefaction J.Cole Benefaction The Dole Grant The Reeveman Grant Propety Fund 43,337 248,869 519,210 18,122 66,410 20,575 35,775 44, 799 213,802 545,313 16,267 59,610 18,469 34,499 GENERAL RESERVE Page I 142,112 84,213 1,094,408 £ 1,016,971 These Accounts were approved by Truste John Thelwall Chair of Trustees s on 12th March 2026. Page 3 Margaret Murray - Smith Vice Chair of Trustees Alistair Henderson Treasurer Alistair Henderson Page I 03/03/2026

The CIO of James South and William Burberry Management Account and Investment Notes Notes 1 and 2 to the Accounts Note1 MANAGEMENT AND ADMINISTRATIVE EXPENSES 2025 2024 Professional Fees - New Build Officers of the Charity Lifelines Insurance of Buildings Solicitors Fee Gardener WMC refunds & Council Tax Rental Propety - New water meters The Almshouse Association Membership Christmas Gifts for Benenficiaries Audit Fees Sundry Costs Trustee Mtgs Refund for payment in error 4,511 3,166 2,965 2,640 1,920 1,050 1,049 534 496 475 420 89 75 4,890 1,575 3,340 1,837 1,575 544 477 425 420 1, 194 65 4,836 21,178 Total 19,390 WARDEN'S EXPENSES Salary 9204 9,204 8,952 8,952 Total Note 2 INVESTMENT NOTES Investments are shown in the Accounts at their market value at the Balance Sheet date of 31st December 2025 and the income arising for the year is shown in the General Income and Expenditure account on Page 1. Value of Investments Listed Investments At 31 December 2024 Net Valuation Gains At 31 December 2025 932,758 19,540 952,298 Page 4

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 2025, 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

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
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: 2p February 2026