2024-12-31-accounts

Milton Bryan Charity

Trustees’ Annual Report for the Year Ending 31 December 2024

1. Reference and Administrative Details

Registered Charity number

232832

2. Structure, Governance and Management

The charity is an unincorporated trust governed by a Charity Commission Scheme dated 1973. Trustees are appointed by the Milton Bryan Parish Meeting for four-year terms.

In November 2024 all trustees expressed their wish to resign. Clare Francis resigned on November 12[th] 2024.

Peter Horrocks was appointed as a trustee on November 12[th] 2024.

3. Objectives, history and Activities

Charitable Objectives

The charity’s object, as stated in the 1973 Scheme, is:

• “To relieve either generally or individually persons resident in the area of the Ancient Parish of Milton Bryan who are in conditions of need, hardship or distress.”

This is delivered through:

• Rental income from ten let properties and a farm

• Grants to individuals in need

• Christmas gifts to village pensioners

• Other grants for community benefit

The trustees have complied with the duty under section 17 of the Charities Act 2011 to have due regard to public benefit guidance.

A Short History of the Milton Bryan Charity

The Milton Bryan Charity is 801 years old. Our village benefits from the remarkable generosity and foresight of our predecessors. It is a type of village charity often known as “townlands”, based on endowments of land which generate income for charitable purposes. The name of the charity’s largest property, Town Farm, reflects that history.

The charity has its origins in a series of land grants beginning in 1424, when Thomas Stanford of Westminster and Mr and Mrs William Lucy of Flitwick gifted tenements, meadows, and woods in the village of Milton Bryan.

These endowments were consolidated in 1533 through a deed from Henry VIII, which established the estate for the benefit of the "inhabitants of the towne of

Milton and their successors forever." A further deed in 1556 confirmed that the profits from the estate should be used for the benefit of local residents as necessary.

Some families have maintained long-standing tenancies across generations.

The work of the charity reflects both its enduring purpose and its historical roots in a community endowment.

Lettings Policy

Properties are typically let at fair market rents, with priority given to people with a connection to the village, including descendants of past residents, subject to affordability. The trustees aim to provide affordable housing for people with a local connection, balanced with the duty to maximise the charity’s income for charitable purposes.

4. Achievements and Performance

Property and Refurbishment Work

The charity continued its programme of survey, modernisation and proactive maintenance across its residential properties. Following the sad death of one of our long term tenants the Charity took the opportunity to modernise the property and this was subsequently relet in November 2024.The costs of improvement have resulted in greater than normal expenditure for the year.

Grant-making

Discretionary grants were made to local residents with particular needs. The annual Christmas gift scheme for village pensioners was continued.

A donation was gifted to the Charity in respect of St Peter’s Church, for the repair of the church clock. A subsequent grant was made to the church for the upgrade and re commissioning of the clock

5. Financial Review

Overview

• Rental and investment income remained broadly stable.

• The reserve fund was maintained at a prudent level, within the agreed policy.

• A review of investment accounts was ongoing to maximise return, within prudent parameters.

Reserves Policy

The trustees aim to maintain a designated reserve fund of £400,000. This target level was achieved by year end. The fund is primarily required to meet future property modernisation and repair needs. Cost of improvement to meet future energy efficiency standards are expected to be significant.

Tax and Trading

We are advised that the Charity is exempt from tax on income arising in respect of rents or other receipts from land as the income is applied for charitable purposes only.

Trustees monitor guidance from HMRC and the Charity Commission to ensure compliance with regulations.

6. Plans for Future Periods

There were a number of events following the reporting period of 2024. Here is a brief summary which will be amplified in a subsequent annual report.

Following the resignation of trustees, the Milton Bryan Parish Meeting appointed a new board of trustees, in accordance with the governing document. A new Chair was also appointed. The board is now actively engaged in updating governance practices and reviewing the charity’s strategic direction.

The new trustees are committed to full and open communication, especially with our primary stakeholders – the villagers of Milton Bryan. This expanded and revised annual report is in line with that commitment.

The following are key future activities for the charity:

• Deed and governance review: The charity will consult Milton Bryan residents and seek charity professional advice on how amendments to its charitable objects or structure would better serve community needs and comply with legislation.

• Property programme: Continued investment in property maintenance and improvement, with particular focus on ageing stock. A comprehensive audit and prospective maintenance review are being carried out.

• Review of grant-making: The trustees will explore options for expanding the scope and visibility of hardship grants in response to ongoing cost-of-living pressures.

7. Risk Management

The trustees review risks annually. Key risks include:

• Property maintenance and tenant management risks

• Reputational risk, particularly during tenancy transitions

• Governance continuity: now mitigated through recent appointments and improved documentation

RFGISTERF,D CHARITY NUMRFR: 232832 IAL STA TSF THE YEA EC 2024 ILT N BRYAN HARrrY Graham Hunt & Co Chartered Accountaftts Utiit 15 Ho¢kltffe Business Park Watling Street Ho¢kliffc Bedfordshir¢ LU7 9NB

BRY F.Fl ded3 IALS 24 ME ort ni Report of the Trns¢e Independent ExmlneT'I Report StsttiiieDt of FIDnclal Acdvltlu Note4 to the Flnan¢lil St*¢ements 5 to 9 Detslled St•¢tment of FID•ncl41 Act1￿￿ 10

' BRYAN HARI RF.PORT F THE TRUS f rth YcArEn ed3 mbtr 2024 The th]￿et$ present their ryrt wih the fina￿191 statements of the ¢harity for the year ended 31 Decamber 2024. The trnstets have adopted the pTr)vision$ of Accounting and R¢portin8 by Charities.. Sthtement of Recomm¢nded Pracli¢e appl)￿ble to charities preparing their accounts in I¢￿rdance ￿7th ibe FinaociAI Reporting St8ndArd applicable in thc UK and Republic ofirEland IFRS 1021 (effe¢11￿ l Janll￿ 20191. STRUCIIJRE GOVERNANCE AND MANAGEM Governlnt dottsment The ch¥ity is ttsntrolled by its Boverning docunnC 8 deed of trust and consiliutes ￿ vniticorpornted ¢h•rity. REFERENCE AND ADMINISTrATIVE DETAllS Rtylstered Ch•rlty Dumber 232832 Prln¢lpl •ddrt LyThlbutst Watling Str¢el HoeklitT¢ Ltighton Buzwd Bedfordshire Lin 9LJ Trnste J Hinton {resi8fted 16.1.251 K Friend {resiBned 16.1.25) S H#Tris (resi8ttd 16.1.25) Irs C Fr¥n¢is (re$l￿d 9.11.24) T P Mccann (re$1￿cd 16.I.25) P Horro¢ks (appoini¢d 10.11.24) N David (appctintrd 16.1.25) MTS S Bu¢hi¢lli {appointed 16.1.25) Mrs F Falle (appointed 16.125) C Hunt (appoint¢d 16.1.25) J Maddox (appoiDtfJJ 16.1.25) Independent Ex*tt￿ner GTrham Hunt fjrnham Hunt & Co Unli IS Ho¢klAffe Busincu Park W811ing Stre£t Hock]iff¢ Bedfordshir¢ LU7 9NB Approved by order of thc boArd of bijstees on 27 Cklober 2025 •nd sI￿d on its behalf by. Pdge I

INI)F.PENDF.IT EIAIIINF, IL ) BRI'AI CIIARIn' RE RT Indtptnd¢Dt eiThlner'i report to the lrn$ttH ofMlho# Bryan Ch•rlty l Terx)rt to the clwkty Intste￿ OD Iiiy eX￿nin￿li￿ o( the of Milt¢M Bryan Chuily (the Trugt) for the year ended 31 Dcccmber 2024. Respon￿bIlItIeS and bish of rtport As ￿ Charity tnJste¢s of the Tnts¢ you r¢ yep¥ion of Ik K¢otmts in ¥cordanc¢ wilh th¢ r¢quicts1￿nts of the Cliti¢s A¢t 2011 Acry I in resrKd of my cxaMin￿l0￿ of Tft￿ CWTicd out Secilon 145 of thc Ad in carrying out my eximiiMtion I follow¢d •ll applicable Dlltets￿ by th¢ ClJ•rity Coom)iWiOD uDdcr &¢iioti 145(5Xb) of th¢ ACL IDdependeDt tsan￿O¢r,% stslemeDt I have ¢onylcied my examina¢ion. I confirni tFt ￿ milenal m•tt¢r5 h•v¢ c4n to my tt¢rAion in connection with the examination &ving m¢ ¢4we w belicve that in Mat¢r1￿ (tspc untitig Trcorth wrre not kepi in ffsP¢¢t of the Tntst ts rrquired by S¢¢tion130 of the A¢L or accoums do xe(Kd with t￿5¢ rttords; or •ccounts do comply th¢ •ppli¢able requirennts eoncernini forni wntenl of #¢counts %¢ out in the Cbriiies (Accounts and Reports) Re8ula(i¢￿s 2(4)8 oth¢r thao Any r4uirernent the Bive A true fwview thich is • m•tt¢r ￿n$l&r¢d as pth ofan in(k￿l exwnina¢ion. I bave no Co￿£￿$ aDd bav¢ tKmss no other matter5 in Connection with the examinatioti ittenlion should be drawn in this w in Order to enabk • prow wklers¢andin8 of ¥¢wits w be reach 61kk, Grah￿ H￿1 & Co Ullii 15 Hockliffe Bllsine# Park Watling Strt Ho¢kiiffe Bedfordthi LU7 9NB 27 Cktober2025

MIL N BRYAN HARITY TATENIENT OF FIYA fort Year End IAL AcfiviTI ernbor 2 24 31.12.24 Totsl 31.12.23 Tothl Unrestricted R¢stricted INCOME AND ThT)OWMENIS FROM Donations and legacie% 10.c Ch•rltsbk atthltks Rents T￿tiVabl¢ 71563 71563 75,939 13J83 13 J83 6229 Totsl 10,0 82.168 EXPENDITURE ON Chrlt•blt ¢tMtles Property ex￿dItUre Charitsble Grants 48J33 sJ30 48.333 15.330 16.693 13576 io.(xK) 1.054 1,054 1.114 Tot•1 54.717 io,c 64,717 31J83 COME 30229 30229 50.785 RECONCILIATION OF FUNDS Totsl fimds brought fonvard 417.437 417.437 36&652 447.606 447,666 417.437

ILT BALANCE SHEET 31.12.24 Total funds 31.12.23 Total rund8 UnTcslri¢ted fvnds R¢stricted fund Notes CURRENT ASSETS Cash atbank and in hand 450,121 450.121 419.855 CREDrroRS Amounts fAllin8 due Mthin one year (2,455) (2,455) (2,418) NET cURREl￿ ASSEIS 447,666 447,666 417,437 TOTAL ASSETS LLSS CURRENr LIAB￿rnEs 447.666 447,666 417,437 NfT ASSETS 447,666 447.660 417,437 FUNDS 447,666 417,437 TOTAL FUNDS 447.666 417.437 The financial slalements WEre approved by th¢ Board of TrpJst¢e• and autlkiris¢d for is8￿ OD 27 O¢tober 2025 and w¢r¢ s•￿ed on its behaifby.. P Horyocks. Tnksteo /zi// Tr notes foThn part of these fllwwial stst¢m¢nts Page 4

MILTO BRYAN RITY NOTES TO THE FINANCIAL STATEMENTS for th Y r Ended IDe mber 2024 ACCOi7KfiNG POLICILS B31s ofpttprlng the flnancll stlttmehti The fiftancial stsieTncnts of th¢ charity. which is a publi¢ b¢nefit entity under FRS 102, have been prcpar¢d in accordance the C]iarities SOIiP (FRS 102) 'Accounling and Rcporting by Cbarili¢s: Statment of Recom￿nded Practice applicable lo charities preparing theii accounts in a¢¢ordance with thc Financial ReportTng Standard applicable in the UK and Republic of Ireland (FRS 102) {¢ff¢ctiYe l January 20191,. FinarKial Rcwrting Stsftd4rd 102 Th¢ Financial Rq)orting Standard applicable in the UK and R¢publi¢ of Ir¢lAnd' and the Charities Act 2011. Th¢ fir￿cial ststements have been prtpared under the hisiori¢41 cost Convention. Intomt All income is reco8nised in the Ststement of Finatt¢ial Activities on¢¢ th¢ charity entiilenxnt to the it AS probable that the income wtll be received and the amount can be measured reliably. E4Kndlture Liabilities are Tecognised as expenditure as soon a$ th¢r¢ is 4 legal OT ¢on5tructive obligation committing the charity to that expenditure. it is probable that & transfer of cconomic benefits be required in settlement and the amouT]t of the obligation can ￿ mcasured reliably. Expenditure is accoullicd for on AD accruals basi5 and kn5 b¢¢u ¢lassificd undcr beadin85 that aggTegale all ¢ost related to the cltegory. Where costs ¢4nuot Ix directly attribut¢d w particular headings they have been allo¢at¢d to Bclivitics on a basis consistent with the use of resow¢¢ Grants offered subject to Conditions vknich bave not been met at the year end are noted &$ a iRrt D)t a¢¢rued as ¢xpenditure. TxAtIo The clwity is exempt from tsx on its charitablc activities. Fund *ccountlng Unrcstrid¢d fimds can be used in ￿￿rdance with the charitable objectives at the discretion of the tnLStees. Restrickd funds can only be used for pafficul￿ restricted purposes withitt the objects of tbe Charity. Restrictions aris¢ sp¢¢ifi¢d by the donor or WIM fimds are Taised for particularre5tricted puy. Furth¢r explanation of the purpose of each fimd is iDcluded ITh the noies to the finwi41 stxtenKn TRUSTEES. REMUNERATION kT4D BENEFrrs There were Th) trustees, remuncrntiott or other benefits for the year ended 31 De¢emkr 2024 Dor for th¢ year cnded 31 December 2023. Trustees, expenses There werc fy) ttustees, ¢xpeps¢s paid for the year ended 31 D¢c¢mkr 2024 nor for the year ended 31 Decem￿ 2023. Page 5 ¢omtinu¢d...

Ml BRYAN HARITY 'OTES TO THE FINANCIAL STATEMENTS- onlln for the I'tr End 31 Dtctmbcr 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcfiviTTES Unrvtricled Restricted Totsl INCOMI E AND EhT)OWMENTS FROM Charitable ttlvltlos Rents receivable 75.939 75,939 6,229 6,229 TotAI 82.168 81168 EXPENDMJRE ON Chxrltable Ictlvltles Propety expeThlittwe Charitabl¢ Gratt 16.693 13,576 16.693 13576 Other 1.114 1.114 Totsl 31J83 31J83 ET JNCOME 50.785 50.785 RECOVCtLIATION OF FUNDS To¢81 funds broughi forward 366.652 366.652 TOTAL Fuf4DS CARRIED FORWARD 417,437 417.437 CREDITORS: AMOUNfs FALLING DUE wrrHIN ONE YEAR 31.12.24 31.12.23 Trnde creditors Other creditors 2,454 2,418 2,455 2.418 Page 6 con1inu￿I...

IL ARITY OTES Ii) ThE FINAN. or the l'ear Emlcd IAL STATEMEIY mber 2024 nrfnlled MOVEME￿ IN FUNDS Net Trnnlfers At 31.12.24 At 1.1.24 infiu Unrestrlcted funds G¢n¢r81 fund 23.437 394.(KKI 30229 (6,IXK)) 6.000 47,666 400.oc 417.437 30229 447.666 TOTAL FUliDS 417.437 30.229 447.666 Net iti itKhMJed in the aixhve are •5 folloTh% infill Unrtstrleted funth (54.717) 30229 Restrlcted Th￿d$ 10.( (iO.¢JN)) TOTAL FUNDS (64.717) 30229 Comparatlve5 for D￿veMent ID N¢t At 31.12.23 At 1.123 in fillmb Unrestrktrd IuDd% 20.652 346.(KKI 50.785 {48.￿0) 48.000. 23.437 394.000 36A652 5Q785 417.437 TOTAL FUNDS 36&652 50.785 417.437 Page 7 continued..

IL BRYAh' IIARITY TES IY) T14E FINAi f r th Year Ended 31 D IAI. STATF.MEliT ib MOVEME￿ IN FUNDS- ¢ondnu¢d Comparative net mov¢m¢nl in fund& in¢lud¢d in Ihe 8bove arc as follow5: Incoming rCSOu￿¢$ Rcsourccs expended Movcment in fvnds Unresirltted fu#d5 Genernl fill 82,168 (31.383) 50.785 TOTAL FUNDS 82.168 (31,383) 50,783 A ¢urr¢nt yr4r12 nN)nths prior y¢4r12 nwnths ¢onined position is u follo￿. N¢1 nKJv¢nKnt in fund$ Transfern b¢tw¢eii funds At 31.12.24 At 1.1.23 Ullre$trl¢ted fundi Gen¢ral fund Reserve fiu)d 20.652 346.000 81,014 (54.000) 54.000 47.666 400.000 366,652 81,014 È147.666 TOTAL FUNDS 366.652 ,81,014 447,666 A current year 12 months And prior y¢ar 12 months Combined net nKv¢rnt In lithdg, included In the ibove Ire AS follows: Incomitig r¢sovr¢ Resourc¢s ¢xpend¢d Movement in funds Unrutrlcted fundi Genernl fimd 167,114 (86,100) 81.014 Rutrtcted fund Church Clo¢k 10,c {10,000) TOTAL FUNDS 177.114 (96,11)0) 81,014 Trnnsferi between futydi As proposed in 2017 and Mmm¢nced in January 2018. £2.000 per month has been transfeTred ￿ the special reserve thi5 y¢ar. It was 4gr¢¢d ￿ incrcase the transfers to £4,1x￿ per mollth from 1st Nov¢mb¢r 2019 ond this been r¢fl¢ct¢d in the tran$fers this year. The $peci81 reserye has been ¢reattd for anticipated mijor works and refurbishment.The tnjstees aim is to establish a AOO,IXX) fiujd for this purpose, Page 8 ¢onlinii¢d..

ILTON BRYAN HARITY NOTES TO TIIE FINAN eir Ended 31 D IAL TATEIllE mber 2024 ntlnued RELATED PARTY DISCLOSURES There were no rclated paty transa¢lions for the year cnded 31 December 2024. Pas¢ 9

N BRYA HARITY DETAII.ED TATENIENT F FIliANCIAL Acr1v￿1 f rth Y irEndcd ember 2 24 31.12.24. 31.12.23 IliCOME AND ENDOWMENTS Dontlofft$ Itgld Donallons iO.(M)O Cbarftabk ¢tlvltEts Farni R￿1 Cottage R¢nts 7.5(K) 68,439 63.563 71.563 75.939 Othtr In¢ome Bank Inter¢s¢ 13J83 6229 T•¢1 ID¢omlng resources 82.168 Charltble •¢tivltles ImpTovements & Repaits 39,644 7.301 3.574 5.818 13,576 Professional fees Charitable Grants 4,140 15.330 62.658 30.269 S•pport cwts Govern•nct tosts Sunthi¢s A¢countan¢y and legal fees ClcrVs Salary I,￿5 804 250 864 250 2.059 1,114 64.717 31.383 Net Income 30.229 50.785 This page dcw not fonn part of the SAatuW fwwnciAI ststements Pa8¢ 10