Registered Charity No. 258928 THE BURGHLEY FAMILY TRUST REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 THE BURGHLEY FAMILY TRUST Content5 Page Reference and administration Trustees repor¢ Independent ex2miners report st3￿ment of financial activives Statement of assets Notes to the financial Statements THE BURGHLEY FAMILY TRUST Reference and administration Full name of charlty The Burghley Family Trust GoY•rnanc¢ Trust deed dated 9 April 1969. amended 5 july 2002 and 20 August 2008 Trustees David Henry Ce£il Floyd Lady Katharine Davina Mary Matheson Miranda Rosemary Rock Charity number 258928 Reglsternd office Burghley House Starnford Lincs PE9 3JY Indep•ndont wminer l E P Fitch 8AIHon51 ACA 61 High St St Martins Stamford Lincs PE9 2LQ Bankers Natwest The Maltings 2nd Floor, Brayford Wharf Easr Lincoln LN5 7HA Page I THE BURGHLEY FAMILY TRUST Trustee5 report for the year ended 5 April 2024 Report of the Trnstees The Trustee5 have pleasure in presenting their report and financial statements for the year ended 5 April 2024. The financial statements comply with applicable statutory requirements and the Trusc's governing document and the current Statsments of Fiecommended Prdctice for Accounring and Reporting by Chariues. Structur¢tr governance and managem¢nt The Trust 15 governed by the Trust deed dated 9 April 1969 as amended 5 July 2002 and 20 AuKUSt 2008. The power of appointing new Trustees of the Trust is vested in the existing Trns￿$. Statement of Trust•¢s responsibilities Under the Trust deed and charity law. the Trustees are required to prepare ftnancial Statements for each financial year which give a true and fair view of the state of affairs of the charity at the year end and of irs incoming resources and resources expend8J during the year. In preparing those financial statements, generally acceptsd accounting prattice entails that the TnJstees'. select Suitable accounting policie5 and thert apply them e0n5lstent￿.. make judgenents and estIma￿S that are reasonable and pruden( $tate whether the financial S￿￿mentS comply with the Trust deed and generalty accepted accounting prattice subjett ro any material departures disclosed and explained in the financial statements: and prepare the financial statements on the golng concern basis unless it 15 lrtappropriate to presume that the charity will continue in bu5ine55. Tht Trustees are required to att in accordance with the Trust deed and within the framework of charity law. They are responsible for keeping proper accounting records which disclose with reasgnable accuracy at any time the financial position of the charity. They are also responsible for safegLbarding the assets of the charity and hence for taking reasonable steps for the prevention and detectron of fraud and other irrwlariues. As far as the Trustees ire aware.. There 15 relevant material inforniats'on of which the tharity's independent examiner is unavtsre,. and The Tru5tee5 have uken all steps that they ouxht to have taken to Tnake themselves aware of any relevant independenT e¥amination information ar￿ to establish that the independent examiner is aware of that information. Objectivè5 and activiti The object5 of the chariw are that the income and. if the trustees so decidq the capital of the trust fund shall be applied for such charitable purposes as the trustees think fiL In making distribuuons the trustees were asked (without prejudice to the generality of the fore8oir¢6 trust) to observe the princ¥ple that the i￿ome of the trust should be applied primarily in grants in aid of charitable foundations, institution& crusts and undertakings la5 the trustee5 should in their discretion select) and particularly of Burghley House Pre5ervatlgn Trust Limited and the National TrusL Page 2 THE 8URGHLEY FAMILY TRUST Trustee5 report (continued) for the year ended 5 April 2024 Achièvèments and performancè During the year the Trust received investment income and donations amounting to £45,194 12023 - £44.370} and charitable distributiofts for the year amounted to £43,860 {2023 £37.275). The difference betyveen income and expenditure for the year after administration expense5 was a surplus of £934 12023 a surplus of £6.6951. Total funds at 5 April 2024 amounted to £496,03512023 - £504,208). The charifund units have been valued at current market value. Public benefit The Tru5tee5 confirm that they have complied with the duty in Section 4 of the Charitses Att 2(KJ6 to have due regard to the Charity Commission's general guidance on public benefi( 'Charities and Public Benefit,. Flnancial review The Trustees have considered the risks which the charity 15 facing and have concluded that therè are no long term financial commitment5 which have been made to good cau5e5 and there are no commitmenrs to pay administration Co$￿ After consideration the trustees do not believe that there are any risks of potentyal claims from rhird partie5 which they envtsage being made against them. Annual income and expenditure are normally broadly in line. The charity does not own any assets other than the financial assets and although these may reduce sn value as a result of a fall in financial markets the governor5 believe that the risk profile 15 appropriate to the long term needs of the charity. Reserves polity The Trustees currenr policy is to distribute the available income amongst a number of charitable institutiom, trust5 and undenakings operating in the Stamford area. y order of the Trustee5 1st July Z024 Mr5 Miranda Rock Trustee Mr David Floyd Trustèe Lady Matheson Trustee Page 3 THE BURGHLEY FAMILY TRUST Independent examiners report to the Trustee5 I report on the accounts which are set out on pages 5 to 6. Respective re5ponsibilltles of Trustees and examiner A5 rhe Charity'5 Trustees you are responsible for the preparation of the aCCOL￿ts: you consmler that the au(Jit requirement of Section 144 of the Charit*s Act 2011 (the Att) does not appty for this year and that an independenr examination is needed. It is my responsibility to exami￿ the accounts (under $ertion 145 of the Act), to frjllow the pr¢xedures laid down in the General Directions given by the Ch3rity Commissioners (under section 14515bl of the Att}, and to state Ythether partKular matters have come to my attention. Basis of ind¢p•ndent examlners rèport My examin2ti0n wa5 carried out in accordance with the General Direttions given by the Chariry Commissioners. An examination includes a review of the accounting records kept by the chari and a comparison of the account5 presented with rhose record5. It also includes considerntion of any unusual items or disclosures in the aCCOLbnts. and the seeking of explanation5 from you as Trus￿eS concerning any such matters. The procedures under(aken do not provtde all the evidenee that would be required in an audit and. consequentlyb I do rK*t express an audtt opinion on the View given by the accoun Indtpendent examin•r$ Statement In connection with the examinatior4 no matter has come to my a¢¢ention which gives rea50r￿le cause to believe thaL in any material respett the requirement5'. to keep accounting records in accordance with seciion 130 of the ACL and to prepare accounts which accord wrth the accounting records and to compty with the accounting requirements of the Act have not been meL or to which, in my opinion. attention should be drawn in order to enable a proper understanding of the accoLtnts to be reached. J E P Fitch BA{Hons) ACA Independent Examiner 61 High Street St Martin. Stamford Lincs PE9 2LQ Date THE BURGHLEY FAMILY TRUST Statement of Financial Activltles for the year ended 5 April 2024 2024 2023 Unrestricted Unrestricted Total Total Notes Incoming resourc￿ from generated fund5 Voluntary income.. Donations Investment Income 18.000 27,194 45,194 18.387 25.983 44.370 Total income Resources expended Charitable 2tt1Vltie5: Donations Governance costs 43.860 37.275 Bank charges Total expenditurt 44,260 37,675 Net incomln81(out8olng) resources before other recognised gains and10$seg 934 6.695 Unrealised gainsl{losses) on investment assets (9.107) (27.853) Net movement In fund5 (8.173) (11,158) Total funds broughE forw•rd Balan¢e Carrled forward 504.208 496.035 525.366 504.208 Page 5 SL14 THE BURGHLEY FAMILY TRUST Statement of Assets as at 5 April 2024 2024 2023 Noie$ Reconciliatlon of funds Balance brought forward Net movement in funds 504,208 8,1731 525.366 121.158} Total unre5trirted capltal and income fund$ 496,035 504.208 Represent•d br. Flxed a55ets M&G Charifund units130.807.893 units CCLA COIF Charities dep051t fund (14.700 units) 449.484 14,700 464.184 458.591 14,71JO 473.291 Current assets Cash at bank and in hand 32,2S I 32.251 Current Ilablliti¢5 Creditors 1400) 14001 Total funds 496.035 504.208 The notes on pages 7 to 9 form an in￿gra1 part of these financial statements The financial Statements were approved by the Trnstees Date (J Mr5 Miranda Rock Mr Davitl floyd Trustee Lady Matheson Trustee Trustee THE BURGHLEY FAMILY TRUST Note5 to the financlal statements for the year ended 5 April 2024 Accounting policies Accounting convention The financial statements are prepared vnder the historical cost convention as modified by the inclusion of investments at market value and in accordance with the financial reporting standard for smaller eniiiies (effective january 20051 and the Chariiies Act 201 l. In preparing the financial statement5 the charity follows best practice a5 laid down in the statetnent of recommended practice "Accounting and Reporting by Charities" {SORP 2005) issued March 2005. The charity ha5 taken idvantage of the exemption in FRSI from the requirement Eo produce a cash flow statement because it is a small charity. Incoming resources Voluntary income is received by way of donations and gifts and is included in fiJll in the Statement of Financial Activitie5 when re￿1Vable. Grfts dOna￿d for resale are included as income when they are sold. Dona￿ assers are included at the value to the charity where Ihi5 can be quantified, and a third person is bearing the COSL The value of serYice5 provided by volunteer5 has not been included. Income from investments is included in the year in which it is receivabl& Resoure•s ex￿nd*d Liabilities are recogni5ed as resources expended as soon as there is a legal or con5truttive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been class?fied under headings that aggrepte all costs related to the ca￿Kory. Resource5 expended include ittribL¢able VAT which cannot be recovered. C05t of generating funds Cost of generating funds comprise5 those costs directly attriburable to rdising investment in¢om¢ and holding cash deposit Charitable artivities C05t of charitable activities include donations made. Donations payabl• for th* furthorance of charity objectives Donaiion5 payable are payment5 made to third parties in the furtheTrnce of the charitable objecti¥e5 of the charity. Single or multi-year grants are accounted for when either the recipient ha5 a reasonable expectation that they will receive a grant and the tr(Jstees have agreed to pay the grant without condition, or the recipient has re350nable expectation that they will receive a grant and 74ny condi¢ion attaching to the grant is outside of the control of the charity. Governanc¢ costs Govemance c05ts comprise all c05ts incyrred in running the charity itself a5 an or¥dnisation. and its complrdnce with regulation and good prattice. The Burzhley Family Trust Nr>te¥ to the a¢count5 (con¢lnued) for the year tnded 5 Aprll 2024 1.4 Investments Fixed a55et investmenrs are included at m¥ke¢ Value at the balance Sheet date. Any gain or 1055 on revaluarlon is allocated to the Statement of Financial Acty"vliies. 1.5 Tuatlon Under settion 505 ICTA 1988 the charity is exempt from certain taxes. Full accour¢t is taken of tax credits attachin¥ to gift5 and qualrfying donations. 2024 2023 2 Donations received Voluntary donation5 18.C¥Xs 18,387 3 Investment income Income frorn listsd investm¢nt5 Deposit interest 27,194 25.983 27,194 25,983 4 Dor¥ations expended All donations were paid to institutions and no donauon5 have been made io Individua15 Dtrsabilitylhospice Religiou5 activities Community care Services Youth AJ)*mal 5,750 9,850 17,800 2,860 7,100 soo 5.750 8.6￿) 15.250 2.110 5.065 500 37.275 43,860 5 Governance activities Independent examination fee5 400 6 Bank charges The Burghley Family Trn5t Notes to the accounts (tontinued) for the year endéd 5 April 2024 7 Staff costs There were no employees during the year. No rernuneratyon has been paid to the Trustees In ebther the current or preceding perlod. The charily no¢ fflet any individual expenses incurred by thè Trustees for services prowded to the chariry. 8 Fixed asset Investmentj M&G COIF Total Fund value as at 6 April 2023 Additions Disposals Unrealised Kdins (losses) in year Fund value as at 5 April 2024 458,591 14.700 473.291 19,1071 449,484 (9.1071 464,184 14.700 Historic cost £73.615 All fixed a$$et investments are held in UK investments 9 Creditors 2024 2023 Independent examiners fee 2023124 400 Page 9