CHARITY OF SARAH. DUCHESS OF MARLBOROUGH
ACCOUNTS FOR THE YEAR ENDED
31 MARCH 2023
Registered Charity Nunber. 209340

CHARrrY OF SARAH. DUCHESS OF MARLBOROUGH
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Page
Trustees. ReF#xI
Independent Exafftnerfs Re￿1
ststémenl of Ftiwnaal A(*¥ilEs
Bala￿ Sheet
Notes to Ihe Finr*i81 Statemenls
15

CHARrrY OF SARAH. DUCHESS OF MARLBOROUGH
KEY PERSONNEL AND ADVISORS
FOR THE YEAR ENDED 31 MARCH 2023
TRUSTEES
Mrs J Chamo
Mr5 C Retcher1￿&9ned 24th March 2023)
Ms U Dunleavy
Mrs E R Haryis
Mr D Goodridge
Mr B Gibbard
Cllr J Taykjr
Mrs H p￿kenhaM (resigned 20th Fetxuary 20231.
Mr D Selers
CLERK
Mrs C Abr3h•ns {reswJned 31* December 20221
Mr M Roth {appointeil 311t DerAmbgr2022)
OFFICE ADDRESS
48 madborDu￿7 BuAdm9S
Haffield Ro•J
St Abans
Herts
AL1 3RW
ALMSHOUSE ADDRESS
1&88 Mathwgh Buikling8
Haffiekl Ro*1
St Ajbans
Herts.
ALA 3RW
AccOU￿A￿s
Mercer 8 Hole LLP
72 London Road
St Albans
AL1 1NS
BANKERS
Bardays Bank P
22.24 Upper Madborough Road St.
bans
Herts.
AL13AL
SOLICITORS
Ivy H{￿se
107 St. Pet¢rfs Slreet SL
bans
Herts.
AL13EW

CHARiff OF SARAH. DUCHESS OF MARLBOROUGH
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2023
The Trustees have ￿￿easUre in presentiThJ th￿rAnnUal ReF(Wt aThJ Financaal Smements oflhe chanty forthe
year ended 31 March 2023. The financial sL7temenls have been prepared in accordance ￿ the
acwunts.ng policies sel out on pages 9 to 11 and comply the chanty's twsl deed. the Charities
Act 2011 and Accounting and ReFO￿"n9 by Charib"es". S￿ement of R￿OrnMended Practice ap￿ical￿e
lo ¢harits'es preparing their accounts in aceordanee ￿1h the Finan￿al ReP￿1￿J StaTrJard applicable
in the UK and Republic of Ireland IFRS 1021 leffectwe Octobèr 20191.
OBJECTS OF THE CHARrr
The objects are as set out in the scheme of the High Court of Chancery of the 3 June 1867 ond in the matter
of the Charftable Trust Acts 1853 10 1939 and the Scheme approved for the regulab.on of the above-
mentioned Chanty sealed ty Order of the Board on 2nd day of September 1955.
They are the provision and conkn"nuing maintenance of the aJmsh)use in Hatfield Road. St Albans for the
benefit of poor pet50ns of gc¢4J charactgr and over 60 years of age.
PUBLIC BENEFIT
When planning the charity's acbvities. the trustees have considered the Charity Commission's 9￿dance on
public benefit. and the trustees believe that the acb.wty of the aTrJ the seNices that il provides do
constitute publtc benefit.
TRUSTEES
The Iruslees who have served during the year and since Ihe end of the yew are as follow6.'
Mrs J Chamock
Mrs C Fletcher (resigned 24th IAareh 2023)
Ms U Dunleawy
Mrs E R Harris
Mr O Goodridge
Mr B Gibbard
Cllr J Taylor
Mr$ H Packenham Iresigned 20* FetKuary 20231
Mi O Sellers
appointed 22 October 2021)
STRUCTURE, GOVERNANCE AND MANAGEIAENT
The Charity of Sarah. Duchess of MarlbNough is a registered ¢tharity number 209340. It 1$ govemed by
Board of Trustees, which is responsible for the strategic direction of the tharity and for establishing policy.
Appolntment of Trustees
The scheme allows for nine trustees. One ex•offiao who is the Vicar for ￿ time teing ofthe Ecclesiastscal
Parish of Sl. Leonards. Sandridge. Two Representsb've Trustees apw.nted by St. Albans and District
Council for a temi of four years and w Cwptative Trustees for a lemi of five years by the Resolution of the
Trustees. The Cwptsb've Tnistees shall te pers￿5 residing or carr￿ng on busir*ss in or near the Cty of
St. Aban$.

CHARITY OF SARAH, DUCHESS OF MARLBOROUGH
TRUSTEES. REPORT (Continued)
FOR THE YEAR ENDED 31 IIARCH 2023
When considering new trustees. the Board has regard to the requiremenl for any specialist skills needed.
New Truslees undergo an Ind￿tion prctess to brief Ihem on legal obligations under tharity law. the
Charty Commission guidan￿ on Public Benefft. and inform them oftr* contentofthe Sclwe, the deasion-
making pr0Cv￿ arbj the recent finanuai perfomwice ol t￿ thanty.
Oryanisation
The Board meets up lo 5 limes a yearand there a￿ sul>commiltees covering resid￿$. finance and estsles.
The Trustees have apwinted a Clerk to cary out the day to day management.
OUR ACTIVMES. ACHIEVEMENTS AND PERFORMANCE
The charity operates in a Grade 2 listed building, providirvj accommodab.on wlhin 35 self-contsined units,
maintaining the property and grounds and providing communal facilities for the benefft of re$￿ents.
The activities undertaken to support these aims rem&n broadly similar from year to year. These indude
carrying out planned maintenance and upgrade projects in order that the alms-house accommodation
meets the needs of residents.
The trustees are aware of the need to balanee the weseNation of the ￿lIdIng the provision of
accommodation that meets current slandards. Accordingty, the Trustees have adopted a Folicy of retsining
furKEs to ensure that the fabric of the building and accornmcthtion is properly maintained.
Quinquennial surveys are carried out every 5 years to delemiine the requirements ￿ foujs of major repair
work5 of the Charity. The next quinquennial Su￿eY is $C￿uled for 2026r27.
A long-temi financial plan is maintained lo ensure thal fvrKls are being managed in 8 Yray to allthv
for long lem maintenance works lo be carried out.
FINANCIAL REVIEW
The most recent aecounts cover the year ended 31 March 2023 - comparative accounts cover the 12
m¢)nth$ period from 1 April 2021 to 31 March 2022. Total incDme for the perTrod was £235.831 {2022:
£234,780). Totsl expendilure on the Charity's actiwties in the year was £125,3￿ compared with £148.425
in the previous period.
In the general unrestricted fund, there was a surplus for Ihe year of £60.696 {2022.. £192.3991 wilh the
decrease due lo an unrealised loss rxt revaluation of investments compared to a gain in the prior year.
Over811, there was a surplus (general, and endowment) for the year of £58,055 {2022' $urplu8
£198,020) after taking account of the movement in investment values arising during the period.

CHARITY OF SARAH. DUCHESS OF MARLBOROUGH
TRUSTEES. REPORT {Continuedl
FOR THE YEAR ENDED 31 MARCH 2023
The market value of the Charity's COIF Fund inveslments decreased in the year by £52,740 12022".
£111,665 Inc¥easel bringing the total market value of the portfolio in the period to £1,347,308 8S 8131
March 2023131 March 2022.. £1,399.778).
The Irustees are pleased wth the fina￿la1 perfomiarKe the year. vknlch indicates Ihat ts undedyiThJ
ffinancial position of the Chanty is satisfxtory.
The age of the Charity's propety asset is suth that details ofthe original cost are unavailable. The trustees
see no usefijl purpose in eslimatsng oJrrent usage values for propety of this type and. therefore. the valué
of freehold propety is Th)1 reflected in the finanaal stslements. The sum insured for the buildings at 18
Haffield Road, is cuffently £7.135.270. At the renew￿ date. which is the 3¢)th June. thi5 will be index linked
and will ￿VISe lo £8.418.806.
Investment Pollcy and Perforniance
There are no restridions on the Charty's POVOW to invest The investment obJ"edive of the trustees is to
combine income and capital growth in a conseryative manner. finance committee regulady seeks
professional ath.ce on the allocation of invesknents.
Th• assets ofthe C￿rity ￿v& been divided into the following fvnds:
Capital- Endowment Fund
This is the Charity's pemianent Ca￿ta base the ariSr￿ from this fund nw te
expended on the Charity's objects.
Alajor Repairs
Designated Fund
This fund can be utilised to finan￿ n￿reC￿￿ repairs. Rec*nt SU￿eyS indKate that thts fvrKI wll be
Ixjnsumed within the me(*um 18rm.
3. General Fund
This represents the day to day acb¥ity of the cha￿ be utilis&J by the Trustees as tw see fil.
This is cJJrrenUy invested in thè COIF Charibes Investment fund. the Bardays Bank c￿￿ent aco)unt aNI
the Bardays Bank Business Saver a(uJunl.
The trustees cfjntin￿ to believe il is pnKlent to maint•n reseNes al I￿S level. This will cLM*inue to be
revie*td annualty as part ofthe loweim pkn.
Reserves
The free rèservès of the dHrity after alkywiNJ f￿ ￿ed assets and the permanent endowment fvnd were
£471.16712022.' £358,C()118131 March 2023. The twstees seek to maintain unrestricted reserye8 81018vel
that VAII allow the day lo day operatK)n ol the almshouse to continue for the foreseeab￿ future and the Current
level of reseNes ¢s consistenl wtth this. The trustees are aware that Lqrger (￿-Off projects wim r￿ul[$ $0
investments to be realised.

CHARtrY OF SARAH, DUCHESS OF MARLBOROUGH
TRUSTEES. REPORT {Continuedl
FOR ThE YEAR ENDED 31 MARCH 2023
RISK MANAGEMEI
The TnJstees continue lo consKlerthe maiorriskstowtiththecharity isexposed and are sati8fie(l that systems
are in place to mitigate thos8 material risks.
PLANS FOR FUTURE PERIODS
A plan 15 ￿1r0 implemented to enh8ncè Ihè fire reSista￿e ofts Chanty's premises. Tkn are no othoT major
pro1￿t3 planned forthe immediate luture.
TRUSTEES RESPONSBIUTIES IN RELAnoN TO THE HNANCIAL STATEMENTS
The charity tNstees a￿ reswnsible for preparing a TnJstees' Annual Report and the ffinawal statements in
accordance with applicable l&v and United Kingdom Accounting Stsndards (United ￿ngdoffl Gerwlty A￿pted
Accounling Pr￿11￿).
The law appli￿ble lo charitiès in England & Wales requbres the injstees to prep8¥e financial staternents for eaL*
financial yearwhKh give a true and tsirview ofthe of the charity and ofthe ino)ming resourtss arvj application of
resources of Ihe charity for that period. In preparing these fmncial slatements, trustees are wuwed lo..
al select suitable 8(xwnting policies arKI apply them C£1￿15t￿￿..
bl obSe￿e the methods an¢J prirripks in the Chaiilies SORP,"
cl make judgments and estsmate5 that are reasonthe and wudenL
dl stsle whether applKabie a￿OUntIng standards have been fdlihyed, subjeca to any mateiial
el departures disdosed and explained in Ihe finanoal statements.
D prepare the finanrAal statements on the gc*ng ¢xnr£m ba￿S unless it is inappropriate to wesume thal the
charity eonlinue in operat
The tsustees are reswnsible for keewng proper ￿un11rVj reclyds that disdose rea$￿a￿e acatra¢
al any lime the financ4al position of the d)anty and to enab￿ Ihem lo ensu￿ thal the finawal staiements
comply with the Charities A(A 2011. the Charity (AcrA)vnts and RepNts) Regulab"ons 2(￿ and the provisions
of the trust deed. They are also responsiblè for safeguarding the assets of the thaity and tsking reascfflablB
steps for the p￿ventiOn and dete(Jion of fraud and other irwularrties.
SIGNED ON BEHALF OF THE TRUSTEES
David G
ge
Dale

CHARrrY OF SARAH. DUCHESS OF MARLBOROUGH
INDEPENDENT EXAMINER'S REPORT TO THE
TRUSTEES OF THE DUCHESS OF MARL80ROUGH CHARrrY
I re[￿ to lh8 chaiity t￿￿teeS ￿ my ex8minalion oflts •xounis ofthe charity tr Ihe year tr￿d 31 Marth 2023
which are set out on pag¢$ 7 to 15.
Responsibtlities and basis ot r•port
AS the tharrty's tnjstees you are responsiNe fly ihe p1eparalh￿ of the ￿nts in accordanr* ￿1h th&
requirements of the Charibe5 Ad 2011 Ilhe Act'}.
I rèport in ￿specI of my examination of the thanvs aCt￿nts caThied urKJer se(Aion 145 of the Act and in
carrying ¢yJt my examination I have folkAve(l all the aOKable Direclions grven by Charrty C¢ynmi%sion under
3ection 1451SMb) of th¢ Act.
Ind•pond•nt •xamlnoes statyment
I have completed my examinati￿. l (xjnfim) Ihat rn malerial matters h8V8 to my attention in o)nnection wth
the examination gNing me cause io bel$￿e that in any mateiial ￿￿..
a¢￿untIng records We￿ not kept in respe(# of the ¢haiity as required by Sec1￿ 130 of fv Art or
the aixounts do not a￿Ord wih those records", L
the accounts do not compty wth the aP￿Icable requiremenls oirKeffling the fom and c￿Lent of a¢xounts
set out in the Charities ¢Ac¢x)unts and Reports) Regulat*Jns 2(1)8 ¢)ther th￿ any requirement that the
acccyjnts give a'lwe arHI fair V￿ wh#* is not a mailer as Part of ￿ independent examination.
I have no ￿)n￿mS and have ￿)￿$ Th) other mattèrs in c4)Mec￿ wÉth the examination to whith attention
should te drawn in this report in order to ￿at￿e a proFer uThJerstsrKlirvJ ofthe accounts to be reathed.
St•vg Robinson FCA
Insllttts of Chartered Acc(￿nIants in England Waes
72 London Road
St ￿ban5
AL1 1NS
Date 22 November 2023

CHARITY OF SARAH. DUCHESS OF MARLBOROUGH
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2023
Genernl
Unrestric¢ed
Fundj
Endov•inent
Fund
Total
Year endgd
31.3.23
Total
Yèar •nd•d
31.3.22
Notes
INCOME AND ENDOMIENTS
Charitable act5vitles
Contrlbutions by Re8idents
193.
193.61)0
194.403
Investment in￿M￿.. - Interest
- DNidends
1.127
1,127
39,460
27
38,572
Olher IrM*me
1.778
Totsl Ineomè
235.831
235,831
234.780
EXPENOITURE
Charitable Activities-
Operab"on ofAINtrh(KJse
125,3
125,306
148,425
Tot•1 Expendtture
125,3(
125,306
148,425
Net Incom?IIEynditurv)
before other recognised
gains and 10¥8es carried
foTh¥ard
110.525
110.525
86,355
Unrealised and realised
gainslllossesl on Investment
assets
149.829)
12.641)
152.470)
111.665
Nèt IncomèllExpÈnditure)
12.641)
58.055
198.020
Transfers befv￿n funds
Net Movement In Funds
12.641)
198.￿￿0
Fund balan¢e¥.brought
forward l April 2022
1.757,779
90.214
1649 973
Fund balances carried
forward 31 March 2023
12
1.818.475
87.573
1.906.048
1.847,993
The Statement of Finarrial ActNibes incknles al Gains and Losses reu)gni5eJ in the year.
All the above regjlis are derived frcrfn continuirwj adivibes.
The notes on pages 9 to 15 fomi part of lh￿ finatKial stateme￿.

CHARrri OF SARAH, DUCHESS OF MARLBOROUGH
(Registerod Charity Number 2093401
BALANCE SHE￿ AS AT 31 MARCH 2023
31.3.23
31.3.22
FIXED ASSETS
Tangible assets
Investments
1.347.308
1.347.308
1.399.778
CURRENT ASSErs
Debtors
Cash at bank and in har
10.082
456,192
579.1
486.274
CREDITORS.. Amounts falling due
within one year
20.49)
18,059
NET CURRENT ASSETS
558,740
448.215
NET ASSETS
I.￿6.048
1.847,993
CHARITY FUNDS
General
1.421.760
1.077.158
Designated Funds".
Major Repairs Fund If0m￿ty
Emergency repair fund)
.715
680.621
Total Unrestricted Funds
1.818.475
1,757.779
ENDOWMENT
Capital Fund
10
87.573
TOTAL CHARITY FUNDS
1,K6,048
1.847,993
Approv￿ on bghaifor the TntytO¢S
Mr D Goodridge
Date )•f+ , l• LJ
The notes on pages 9 to 15 form part of these finarKial slalwnents.

CHARiff OF SARAH, DUCHESS OF MARL80ROUGH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
ACCOUNTING POUCIES
Basls of Accounting
The Finanaal Statements h8¥e ￿￿en prepared in acu)rdan￿ with the Statement of Recommended
Pract￿.. A(zwnting and Re￿￿"ng by Charities Pfeparing their amirts in acts)rda￿e wilh Financial
ReportiThJ Stsndard applicable in Ihe UK and Reput4K of Ireland (FRS 102} issued on 1 October 2019
and the Finan(xal Rewrtmig Standatd applThbk in the Uniled ￿Tr3dly￿ atml Republ￿ of Ireland IFRS102}
.the CharilEs Act 2011 and UK Gener￿lY Ary)1￿1 Pr3dic•.
The Charity constitutes a pU1J￿ enbty as defined by FRS11f2. The Tnjstees oJns*Jer that Ihere aro t
material un￿rtaIntieS about the abilty to cwtinue as a (￿￿¢M.
Judgements and key sources of estimatio¥n uncert•inty
The preparation of the ffinanCI￿ 5tstèm8nis requires management to make judgements. ¥slmates and
assumptions that affecj the amunts reported for assets and liatilrties as at the balance sheet date and the
amounts reported for revenues and expenses during the year. The nalure of esb"malion means that actual
outoynes coukl differ from those ests"mates. The judwents have had a signrficant effect on
amounts recognised in the finwal *atemerts..
Fmhold Property
The age ofthe Charitys prowty assets 1$ suth that dotsils ofthe ￿lgInal cost are unavailth. Th¢ trustees see
no useful purpose in estimatiro current Usage values f(¥prro*fy of this type and. iherefore, the v¥lu¢ offreehold
proFety is not rellected in the fina￿al statell￿￿.
Tangiblg fixed assets and depreciation
l assets am from freehokj proF&ty c£Jstw nwe than £1.¢XQ are ￿pIlalISed val￿1 at historic cost
Dep￿llat￿)n is thaiged on existi￿￿ equipment ￿ a straIght-￿￿e basis over its estimated USeft￿ lrfe of 10 yearn.
Where the trustees assess that tsir value is Ihan tr￿4)k value Ihe assets are impaired.
Investments
Investments are i1￿￿le￿ wrfhin the Balance sheet at the market ¥a￿le existing at the B￿ance Sheet date. The
slatemeRt of financi￿ a¢AJ"¥itw indudes the net gains and losses arising on revaluati￿ and disposals during Ihe
year.

CHARITY OF SARAH, DUCHESS OF MARLBOROUGH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
(Contlnued)
ACCOUPlnNG POUCIES leontlnuèdl
Income Recognition
All income is recognised ortt the charity has ent1ueftw￿ to the income, there is er￿gh ¢*rtainty of re￿Ipt and
so it is prOba￿e that the incoThe wll be received. and the amount of Ir￿Me receNa￿e can be measured reliabty.
The fL41owing SFwfi¢ Fx)IK1￿ are asWi¢xtk lo rate￿e5 of In(x￿e.
Investment income is induded within the Finnoal Slatements on a gross basis. wKluding Lyedit for tax
ded￿ted at source. for amounts receNat4e at the Bakn￿ Sheet date.
Contrtbutiws fr(Mn Residerts are rKJ￿Yed in the Stslement of FinwK4al AolNibes in Ihe Faiod
rècèwable ba&s.
Realis￿ 93in5 and lossès
I gains and k)sses a￿ taken to the statement of finanoal acb*t*s as they arise. Realised gains and losses
on investments are cakJJlated as the drffefence belween sales woceeds and th&r opening caryitvJ value ortheir
purchase v￿ue rf aCqLll￿ subsequent to the first day of ￿ financial year. Unrealised gains and losses are
akulated as the differerkx bet￿￿en their fair Val￿ at the year end and thwr rarrying ¥￿Ue. Realiswl and
unrealised gains are comlyned ￿thin the staleffent ol finanryal a(Xivities.
Expenditure
Liabilities afe recognised a5 expendrfure as as Ilwe is 8 legal or o)nslnK*ve oblwjalion committing the
charity to that expenditure. it 15 probable that setilernent wil be wuired. and Ihe arnounl of obligab.on can be
measured reknabty.
l expeThJilure is acLoJnted for on an accn*l's basi8. Al expen￿. wK4Ur￿ng SUPF*Jt ￿sts arKI govemance
costs. are alknatad or apwtwmed to Ihe aFvFKabl& expeThJiture headings in the statemenl offfinancial acbvitEs.
Charitable activities
Chantat4¢ expendilure comwtses those C¥)sts IMIr￿ by thè chanty in the d￿l￿ry of ts athvthes and seNces
for rts t*nefioaries. 11 indudes both fx>sts th81 can be 81kx8led dire(* to such athvit*s and those
costs ofèn in(lirecl n8ture. r*ossary to Sup￿ ttw.
Allocatlon of support and governance costs
Governan￿ costs indude those ￿$t5 a&￿iated with meeling ￿ constitut￿al and slaluiory requirements of
the (*arity and independent examinatth fee$ aNI linked to th& Strateg￿ man8g&mantofthe charity.
Costs th81 are directly 8ttriL￿tsble are reallc¢ated on a adNty basis supwl costs Ihen added.
Central ￿lminiStra110n arKI suppryt i)7sls are app￿￿d to Iho ¢harilabl6 a(ji￿"￿.&5 ￿ a reasonable and
consistent basis.
Irrecoverable VAT
Irre¢overable VAT 1$ tharged 89ainst the PJKwidrture f*•J4ThJ forvthyth il Wds inojrred.
io

CHARrrY OF SARAH, DUCHESS OF MARLBOROUGH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
IContinued}
ACCOUNTING POUCIES (Contin￿1)
Funds Structure
Un￿stric￿ irKtyne fuTrJs Cunp￿e tlThe fvr￿s wh￿ti the INs￿S 8ft froe to us¢ for any purFK)se In
fvrtheTan￿ of the d￿ritable c&iecaives. UnrestrKted funds deswn8tad fu￿ts kn the trust80s.
al thw'r di%retic¥). have ueated a fL￿d for a 5peufic wrpose.
The tspital endowmenl fijnd 15 the charity's pemanent c?￿4 base and onty the income 8ri$ing from thi3
ftjnd may be exF*nded on the charty's obieclwes.
Further det￿lS ofe8¢h I[￿d are N(rte 11.
D•btars
Trade and other debtorn are re¢ognised at the setmement arrK)unt due after any trade (fj50)unt offered.
Prepayments a￿ Valued al Ihe amwnt wepad ofany trade ¢Jixount due.
Cash at bank and in hand
Cash at bank arKI cash in hand indudes cash arKI short temi highty ￿VId in¥esbnents that are readi
convertibte to knu•vn am(xJnts of cash aThJ are sutyl to ￿ ing9nrfKant risk to c*arvJes in valug.
Creditors and provisions
Credrtors and provisions are re¢¢rfJnised where the d*rity ha5 8 p￿sent obligation resulting from a past
event that will probably result in the transfer of lunds to a third party and the amount due to sètue the
obligation can be measured or estimated relK4bty. Creditors and provisions ale Th)m)alty recognised at
their setuement amount after allwrwJ for any tr* dtsctsjnts due.
Financial instrum¢nts
The charity onty has finanual assets and financial l18b1￿ of a Ihat qU81fy 88 bask ffinanu
instruments. BasK finanaal instruments a￿ initi'ally recognised at transac￿ value and Subsequendy
measured al amortised c05t U￿n9 the effe(*ve interest metFtsJ.
CHARITABLE STATUS
The tharity is rrystered with the tharity oJmmissKn. re9ls1ratic￿ nurthr 209340 8nd in consequerKe it
is exempl from taxation on irLxrfne ari￿￿J 8rt1 exwthl on ils ch￿11#￿6 a¢Yivibes.
CONTRIBUTIONS BY RESIDENTS
Total
2023
Total
2022
MaintenaNce thntribubons
li

CHARrrY OF SARAH, DUCHESS OF MARLBOROUGH
NOTES TO THE FINANCIAL STATEMEP
FOR THE YEAR ENDED 31 MARCH 2023
(Continued)
ANALYSIS OF EXPENDITURE ON CHARITABLE ACTP4ITY
Oprnting
co$ts of
AJmshou¥¢s
Support
and
governance
costs
31.3.23
0￿￿￿tIng
osts of
Alm$hous•s
Support
and
governancv
osts
31.3.22
Property,
repairs.
refurbishment
and
maintenan
Light and ￿at
Insurance
Watei charges
Garden and iTee
maintenance
General upkeep
Subscriptions
Counryl tsx
Legal and
profèssional
WMC Collec*on
fees
Depreaalion
Impairment of
equipmenl
Sundry
expenses
40.557
67,697
67.697
24,977
4.624
3.528
8,770
24.977
4.624
3.528
8.770
24,032
24.032
4.(￿9
2,661
6,489
2.e61
6.489
4.013
1.318
1.939
18,540
21553
1.318
1,939
4.172
3.074
18.368
21,442
2.927
2.927
4.320
4.172
4,320
7.070
7.070
5.798
5.799
9.659
102.
22.712
125.306
125.737
22.688
148,425
Support and govemance costs lincluded #bovèl:
31.3.23
. 31.3.22
Ckrk's fee5 afKI expenses
IndeFendent examinabon fee
18.540
4.1n
18,368
4.320
22.712
22,688
12

CHARrtY OF SARAH. DUCHESS OF MARLBOROUGH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
(Continued)
5. PAYMENTS TO TRUSTEES
The Trustees recthd r&mur*rntion for as TDJSt￿ in gith8rthe current or weceding .
period.
FIXED ASs￿s INVESTMENTS
Designatrd
Fund¥
End¢>wm•nt
Funds
Total
Cost
At 1st Aprl 2022
AddilKffi$
Disposals
At 311t Marth 2023
777.347
28,328
777.347
26.326
803.673
M¥t1(Èt Value
Al 1" Aprl 2022
Addii*Jns
Disposals
Gainlllossl on irwestrnerts
At 3141 Marth 2023
1.329.307
70.471
1.399,n8
49,829
1.279,478
52.740
1.347,308
67.830
Loss ￿ investments (r)mpnse unrealsed losses ￿ revauation to market V8lue of £52.74012022: Net
gains £111.e65} and rèalised gains on d￿￿>SaI$ ol i￿t￿ts of £N1112￿￿2. £Nill.
Details of malerial inveslment are a5 f01Th￿..
% Value of
Portfolio
COIF Charity Funds
Income units
DEBTORS
31.3.23
31.3.22
Amounts due from Residents
Prepayments arL(l acuued ir
1,354
10.082
10,082
13

CHARITY OF SARAH, DUCHESS OF MARLBOROUGH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023
(Contlnued)
8. CREDITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR
31.3.23
31.3.22
Trade credito
AC¢n￿lS and deferyed incorno
7.516
12,934
1.445
16.614
20.450
18.059
ANALYSIS OF MOVEMENTS IN UNRESTrICTED FUNDS
Movement in fvn(ts
IrKomlng
Expendlturp.
Gains.
Losses &
Trdnsfers
Balance ot
1 April
2022
Balance at
31 March
2023
Gener￿ Fund
1.077.158
235,831
108.771
1,421,7PJ)
Designated Futvjs
Major repairs bjnd
680.tr21
1.757.779
396,715
1.818,475
235.831
175.135
The Major Repairn Fund (fo￿lty Emergency Repair FuThl was cTratsd to ffin￿ce nor￿r￿￿￿1r￿j repairs.
10. ENDOWMENT FUND CAPITAL
The capital fund is Ihe charity's permanent capNtal base and the ir￿0￿￿ arisirwJ from this fund may be expended
only on the ¢harity's objects.
14

CHARrri OF SARAH, DUCHESS OF MARLBOROUGH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023
Contlnuedl
11. ANALYSIS OF NET AssEfs 8EtWEEN FUNOS
Unrtstrlctsd Unrnstrlctsd Endowme
Gonernl
DesSgnated
Fund
Total
Fund•
Fixgd A¥sgt In¥e8lmonts
Net ¢urrent assets
598.857
538.997
680.621
67.8
19.743
1.347.308
558.740
1,137.854
680.621
1.906,048
31.3.23
31.3.22
Unreallsed galns on Investment as8ets Included above:
Unrèalised gains as at 1* Aprll 2022
Net gainsl{lossesl on revaluati¢)ns during year
998,069
152.740)
886.404
111.66S
Unr9ali$¢d gains as at 31¥t March 2023
945.329
998.069
12. ULTIMATE coiifROLLING PARTY
The Trustees continue to exercise o)ntrol (Ner the affairs of the ¢tharity.
13. RELATED PARTY TRANSACTIONS
No other related p8ty transaclions arcEe ￿rrent perK*J or pr￿edIng year.
14. FJNANCIAL INSTRUMENTS
31.3.23
31.3.22
FSnanclal assets
Financial assets measured al tsir value Ihr¢xryh profrt or tOSS
Financial assets that are debt ￿StrUfflents measured at amortised
Cost
$69.742
456.193
569,742
456.193
Fin#n¢i•l kn•biliti¢s
Finanaal liabilities meagjred at amcrftised c05t
{20,4501
118,OS91
20.450
18.OS9
15