Charity registration number 1204065 HORACE CHARLES 8URLEY WILL TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED SAPRIL2025 ) Hargreaves & Woods CHARTERED ACCOUNTANTS & BUSINESS ADIJISERS
HORACE CHARLES BURLEY WILL TRUST CONTENTS Page Legal and administrative infomiab.on Trustees, report Independent examinerfs report Slalement of finana81 aCINe$ Balance sheet Notes lo the financial statements 7-13
HORACE CHARLES BURLEY WILL TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees MT M J Wlliams Mr J F C Arnold Mrs A Bebbington-Planl (Appointed 29 April 20241 Charity registratlon England and Vvales 1204065 Independent examiner James Hargreaves FCA Cholrnondeley House Dee Hills Park Chester Cheshire CH3 SAR
HORACE CHARLES BURLEY WILL TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2025 The trustees present their annual report and financial statement5 for the year ended 5 April 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the fin8ncial statements and comply with the trust's governing document, the Charities Act 2011 and "Accounting and Reporting by Chaiities." Slalernent of Recommended Practice applicable to chaiities preparing their accounts in accordance with the Finanual Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l Janvary 20191. Obiectlves and activities As this trust becatlle 8 registered charity on 21sl July 2023 it can operate in perpetuity, Trustees shall in their absolute discretion think fil in and towards. the provision of 8n annual day Iflp or outing for the choir of the said church, the bell ringers of the said church and those who clean and tidy the churchyard of the said church including the provisi(In of 8 lunch and a dinner on such trip or outing and., such Charitable provision as my Trustees shall from tirt7e to time think fil, Subje as aforesaid my Tfuslees shall hold my residuary estate arld the incorne thereof in Trust for the Parochial church Council of the Parish of St Peter'5 Church, Waverton. Cheshire. Public benefit The trustees have paid due regard to guidance i55ued by the ChaTity Commission in dec#ding what activities the tiust should undertake. Achievements and perfomiance Signilicant 8Glivilies and achievem8nls against objeetivgs Every year, the Trust pays for the Church Hall administrattsrlverger. the insurance for Ihe Church and the Burfey Hall, repairs to St Pelerfs Church and the Annual dinner for the volunteers specified in the objects of the Charity. Financial review During the year the trust had income of £48,834 frorn the investment portfolio held. This incolne was slighdy le5S than the costs incuired during the year but the trust has more than sufficient funds to rall on should the need arise. Reserves policy It is the policy of the trust that unrestricted funds which have not been designated ft>r a specific use should be maintained at a level equivalent to between three and six month's expenditure. The trustees consider that reserves at this level will ensure that, in the event of 8 significant drop in funding, they will be able to continue the Irusl's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. Structurè* governance and management The trustees who setwed during the year and up to the date of signature of the financial statements were.. Mr M J Williams Mr J F C Arnold Mrs A Bebbington-Plant (Appointed 29 April 20241 RecruNtm8nl and appoinlment of IStee Trustees are appointed by Deed of Appointment and in alignment wth the Charty Commission's Guidance on Finding New Trustees. Non of the trustees have any beneficial interest in the Charitable Trust
HORACE CHARLES BURLEY WILL TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 The trustees, report was approved by the Board ofTrustees. Mr M J Wlliams J F C Arnold MrsA Bebbington- Plant Trustee Trustee Tru8tee 16 Dember 2025
HORACE CHARLES BURLEY WILL TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HORACE CHARLES BURLEY WILL TRUST I report to the trustees on my exarninalion ol the financial statements of Horace Charles Burfey Wll Trust lthe trust) foi the year ended 5 April 2025. Responsibllitles and basis of report As the trustees of the trust you are responsible for the preparation of the finanaal st8ternents in accordance with the requirements of the Charities Act 2011. I report in respect of my examination of the trust's financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Comrniswon under section 14515llbl of the Charities Act 2011. Independent examlnerfs ¥tstement Your 8ttention is drawn to the fact that the charity has prepared the financial ststements in accordants with the relevant version of the StateTnent of Recommended Practice applicable to ch8rities preparing their financial statements in 8ccordanTr with the Financial Reporting Standard applicable in the UK and Republic ol Ire18nd IFRS 1021 in preference to the Accounting ad Reporting by Charities.. Statement of Recomrnended Practice 15sued on 1 April 2005 which is referred lo In the extant regulations but has now been withdrawn. l understand that this has been done in order for the financi81 statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice. I have completed my exaTnin8tion. I confirm that no matters have come to my attention in connection with the examination giving me CaLJse to believe that in any material respect.. accounting records were not kept in resped of the trust as required by section 130 of the Charits'es Act 2011. the financial statements do not accord wth those records., or the financial statements do not comply with the applicable requirements conceming the fom) and contenl ol financial statements set out in the Charities (Accounts and Reports) Regulations 2008 othei than any requirement that the financial slalements give a true and fair view, which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper vnderstanding of the financial statements to be reached. We have not verified the piior ye8r figures as Ihis trust h88 been active for a number of years. We only confirm the current year position of the financial statements. James Hargreaves FCA CholTnondeley House Dee Hills Park Chestei Cheshire CH3 SAR 16 December 2025
HORACE CHARLES BURLEY WILL TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2025 Endowment funds 2025 Endowment fund5 2024 Notes Income from.. Investments 48,834 47,116 Total Incom8 and 8ndovdments 48,834 47,116 Expenditure on= Raising funds Charitable activities Other expenditure 10,324 15.326 44,366 8,598 22,347 22.413 Totsl expenditure 70.016 53,358 Net gainslllossesl on investrnents 10 146,959 3,830 Net Incomellexpendlturèl and movement in fund¥ 125,777 12,4121 Reeonclllatlon of funds= Fund balanS at 6 April 2024 1,265,497 1.267,909 Fund balances at S Aprfl 2025 1,391,274 1,265,497 The slalement of financial activities indudes all gains and losses recognised in the year. All income and expenditure derive frorn continuing activiues.
HORACE CHARLES BURLEY WILL TRUST BALANCE SHEET AS AT 5APRIL 2025 2025 2024 Notes Fixed assets Tangible assets Investments 12 13 fj,000 1,264,223 1.000 1,098,709 1,265,223 1,099.709 Current assets Debtors Cash at bank and in hand 14 275 130.076 1,036 168,392 130,351 t69,428 Creditors.. amounts falling dug Withln one year 15 14,3001 13,6401 Net current assets 126,051 165,788 Total assets less current liabilities 1.391,274 1,265,497 Net asset5 excludlng penslon Ilability 1.391,274 1,265,497 The funds of the tru8t Endowment funds 16 1,391,274 1,265,497 1,391,274 1,265,497 The finanaal statements were approved by the trustees on 16 Dember 2025 Mr M J Wfilliams Trustee rJFCArnold Trustèè MrsA 8ebbington-Plant Trnstee
HORACE CHARLES BURLEY WILL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Accounting policies Charity information Horace Chades Burley Will Trust has become a charity as from 21st July 2023. 1.1 Accounting convention The financial statements have been prepared in accordance with the trust's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" I'FRS 102.1 and the Ch8rrties SORP "Accounting and Reporting by Chaiities". Statement ol Recommended Practice applic3ble to charities preparing their accounts in accordance with the Financi81 Reporting Standard applicAble in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191. The trust 15 a Public Benefit Elltily as defined by FRS 102. The trust has taken advantage of the provision8 in the SORP for charities not to prepare a Statement of Cash Flows. The financial st8tements have departed from the Charities (Accounts and Reportsl Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement ol Recommended Practice for charities applying FRS 102 rather than the version of the Slalement of Recommended Practice which 15 referred lo in the Regulats'ons but which has since been withdrawn. The finanrial statements are prepared in sterting, which 15 the functional rrencY of the trust. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepad under the historical c051 convention, Imodified to include the revaluation of freehold properties and to include investrnenl properties and certain finanaal instruments at fair valuel. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the trustees have a re850nable expectation that the trust has adequate resour$ to continue in operational existence for the foreseeable fLJture. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Reslrided lunds are subject to specific conditions by donors or grantors a5 to how they may be used. The pijrposes and uses of the restricted lunds are set out in the notes to the finanaal statements. Endowment funds are subject to specilic conditions by donors that the capital must be maintained by the trust. 1.4 Income Incorne 15 recugni5ed when the trust is legally entitled to it after any perfomance condrtions have been rnel. the amounts can be measured reliably, and rt is probable that income will be reived. Cash donations are recognised on receipt. other donat108 are recognised once the trust has been Th)tified ol the donation, unless perfortnance conditions require deferral of the amount. Income lax recoverable in relation to donations received under GiftAid or deeds of covenant 15 recognised at the time of the donation. Legaries are recogni5ed on receipt OT OtheiSe if the trust has been notified of an impending dislribulion. the 8mounl Is known. and receipt is expected. If the amount is not known, the legacy is tiealed as 8 conlingenl ssel.
HORACE CHARLES BURLEY WILL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 5 APRIL 2025 Accounting policies Icontlnuedl 1.5 Expenditure Expenditure is recognised once there is a legal or conslruclive oblig8tion to transfer economic benefit to a third party, it 15 probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured Teliabty. Expenditure is classrfied by activity. The costs of each activity are made up of the total of dir costs and shared costs. including support costs involved in undertaking each activity. DiTe¢t costs attributaLqe to a single activity are allocated directly to that 8otivily. Shared costs which COntrbUte to more than one activity and support costs which ale not attribLJt8ble to a single activity are apportioned between those activitEs on a basis consistent with the use of resou[s. Central stsff costs are allocated ON the basis of time Spent. and depreciation charyes are allocated on th@ portion of the asset's USÈ. 1.6 Tan9ib18 fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at eost or valuation, net ol depreciation and any irnpaimient103ses. Depreriation is recognised so as to write off the cost or valuation of assets le55 their residual values over their useful lives on the following bases.. Freehold land and buildings Not depreu8led The gain or loss arising on the disposal of an asset is determined a5 the differenTr between the sale prOedS and the carrying value of the asset. and 15 recognised in the statement of financial activities. 1.7 Fixed asset investments Fixed asset Investments are initially measured at transaction price exduding trans8Ction costs, and are subsequently measured at fair value at each reporting dale. Changes in fair value aTe recognised in net incomellexpendilurel for the year. Transaction costs ale expensed as incurred. 1.8 Impairment of fixed assets At each reporting end dale, the trust reviews the carrying amounts of its tangible assets to determine whether there is any iridication that those assets have Suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to delerrnine the extent of the irnpairment loss Irf any). 1.9 Cash and cash equlvalents Cash and cash equivalents incltsde ca8h in hand. deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank oveTdTafts. Bank overdrafts are shown within borrowings in current liabilities. 1.10 Financial instruments The trust has ele¢ted lo appty the provisions ol Section 11 'Basic Financial Instruments, and Seci+on 12'0ther Financi81 Instruments Issues, of FRS 102 to all of its financial instruments. Fin8ncJal instruments are recognised in the trust's balance sheet when the trust becomes party to the contractual provisions of the instrurnent. Financi81 assets and li8bilibe5 are offset, with the net amoun15 presented in the financial statements, when there is a legally enforceable right to set off the recognised arnounts and there is an intenb.on to settle on a net basis or tts realise the 8sset and settle the liability simultaneously.
HORACE CHARLES BURLEY WILL TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 5 APRIL 2025 Accounting policieB Icontbnuedl Basic financial assets Basic financial assets, which include debtors and cash and bank bal8nces. are initialty measured at transaction price including transaction costs and are subsequelldy carried at amortised cost using the effective interest method unless the arrangement constitutes a financing tranSalon. where the transaction is tneasured at the present value of the future receipts discounted at 8 market F8le ol interest. Financial assets da5sified as receivable within one year are not amortised. 8asic financlal liabllltles Basic financial liabilities, including creditors and bank loans ale inthally recognised at transaction price unless the arranoement constitutes a financing tf8nsaclion, where the debt instrument is measured at the present value of the future payrnenls discoLJllted at 8 market rate of interest. Financial liabilities classified as payable wthin one year are not amortised. Debt instruments are subsequently rrIed 8t amortised cost, using the effective inteTest rate method. Tiade creditors are obligations to pay for goods or ServIS that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current li8bilities il payment is due within one year or less. If not, they are presented as non-current liabilities. Trade cieditor5 are recogni5ed initially at transaction price and subsequently measufed 818mortised cost U51ng the effective *nterest method. Derecognition of financlal liabilities Financial liabilities are derecognised when the tNst's contractual obligations expire or are discharged or cancelled. Critlcal accounting estimates and judgement5 In the application ol the trust's accounting policies. the trustees are required to Tnake judgements, estimates and assumptions about the carrying amount of as5els and liabilities that 8re not readily apparent from other sources. The estimates and associated assumptions are based on historical expeTience and other factors that are considered to be relevant. Actual resutts may differ from these estirnate5. The estimates and underlying assumptions are reviewed on an ongoing basis. Revision5 to accounting estirnates are COgnised in the period in which the estim8te is revised where the revision affects }Y that period, or in the period of the revision and future periods where the revision affects both curient and futL+re periods. ncome from investhitnts Endowment Endowment funds funds 2025 2024 Rental income Other income 40 48,794 40 47,076 48.834 47,116
HORACE CHARLES BURLEY WILL TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 5 APRIL 2025 Expèndlture on raislng funds Endowment Endowment funds funds 2025 2024 Investment management 10,324 8,598 Expenditurè an Charitable actlvltles Charitable acttvities Charitable a¢livtties 2024 2025 Direct costs Share of support and govemance costs (see note 61 Govemance 15.326 22,347 Analysis by fund Endowrnent fLJnds 15.326 22,347 Support eosts allocated to activities 2025 2024 Govemance costs 15.326 22,347 Analysed been. Ch8rilable activities 15,326 22,347 2025 2024 Governance costs comprise.. Accountancy Legal and profes5ion81 Independent examination Barrister fees 7,200 6,155 1,971 5,463 7,884 1,200 7,800 15,328 22,347 Tru$t8es During th8 year the trust paid MD Coxey & Co. Ltd £7,200 for accountancy fees. MD Coxey & Co. Ltd in turn have paid Martin WilliaTns for his involvetnent in the accounts preparation and foT his work 88 a trustee. During the ye8T the tIU5t has paid Cullimore Dutton Soliotois £6,155 for legal fees. Cullimore Dutton Solicitors in tum have paid Adele BebbingtOn-Plant for her work as a trustee. None of the other IIu51ees have reIVed any iemuneialion or benefit5 from the trust during the year 10
HORACE CHARLES BURLEY WILL TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 Employees The average monthly number of employees during the year was.. 2025 Number 2024 Number Total There were no employees whose annual remuneration was more than £60,000. Other expÈndlture Endowment Endowment funds fund5 2025 2024 Net loss on disposal ol tangible fixed assets Annual Dinner & lunch with Sl Pete¢s Church Officials Church Hall administratorlverger Church and Burfey H811 insurance Parish share arrears Church repairs 118 1,598 8,329 5.067 9,449 5.181 28.851 7,301 44,366 22,413 10 Gains and losses on Investmènts Endowment Endowinent funds funds 2025 2024 Gainslllossesl arising on.. Sale of investments 146,959 3.830 11 Taxation The charity is exempl trom taxation on its actNilies because all its income 1$ applied for charitable purposes.
HORACE CHARLES BURLEY WILL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 12 Tanglble fixed assets FYe8hold18nd Cost At 6April 2024 1,000 At 5 April 2025 1,000 Carrying amount Al 5 April 2025 1,000 At SApril 2024 1,000 13 Fixed asset investments Llsted Unlisted in¥e8tments investments Total Cost or valuation At 6 April 2024 Additions Disposals 1,098,209 381,772 1216,2581 5(M) 1,098,709 381,772 1216,2581 At 5 April 2025 1,263,723 500 1,264.223 Carryin9 amount Al 05 April 2025 1.263.723 500 1,264,223 At 05 April 2024 1,098,209 500 1,098,709 14 Debtors 2025 2024 Amounts falling due within one year.. Other debtOTS 275 1.036 15 Creditors= amounts falling due within one year 2025 2024 Other Creditors Accruals and defeired income 40 3,600 4,300 4,300 3,640 12
HORACE CHARLES BURLEY WILL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 16 Endowment funds Endowrnent fund5 represent assets which musl be held pertnanently by the trust. Income arising on the endowment funds can be used in accordance with the objects ol the trust and is included as unrestricted income. Any capitsl gains or losses arising on the assets ftsrm part of the fund. At 6 Apdl 2024 Incoming resource$ Resources expended Galns #nd Ios58S At 5 April 2025 Pemianent endowments 1,265,497 48.834 170,0161 146,959 1,391,274 Previous year= At 6 Aprfl 2023 Incorning resources Resources expended Galns and losses At S April 2024 P8rmanent endowrnents 1,267,909 47,116 IS3,3581 3,830 1,265,497 17 Analysis of net assets beeen funds Endowment funds 2025 At S April 2025.. Tangible assets Investments Current a5setsllliabilities} 1,000 1,264,223 126,051 1,391,274 Endowmènt funds 2024 At 5 April 2024.. Tangible assetg Investments Current a5setsllliabilitiesl 1,000 1,098.709 165,788 1,265,497 18 Rèlated party transactions There were no disclosable related party transactions during the year12024- none). 13-