2024-04-05-accounts - Tollemache (Buckminster) Charitable Trust

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Docusign Envelope ID." 41B9cC0041C&4A296F-380Sl11FG46D Charlty No. 271795 (England and Wales) Tollemache (Buckminster) Charitable Trust Trnstees. Report and Flnanclal Statements For the year ended 5 Aprfil 2024

Docusign Envelope ID." 41B9cC0041C&4A296F-380Sl11FG46D Tollemache (Buckmillster) Charitrdble Trust Contents Page Trustees and charity infomation Trustees, report Independent examiner's report Statement of financial activities Balance sheet Notes to the financial statements io

Docusign Envelope ID." 41B9cC0041C&4A296F-380Sl11FG46D Tollemache (Buckmillster) Charitrdble Trust Trustees and charity informatio For the year ended 5 April 2024 Registered charity number 271795 Trustees Sir Richard Tollemache lady Amanda Tollemache Admlnlstratlve office Grange Farniyard Main Sireet Buckminster Grantham NG33 SSD Bankers Barclay.s Bank UK PIC I Churchill Place ndon E145HP Investment advlsers LGT Wealth Management 14 Cornhill London EC3V 3NR Independent examlner Timothy Gregory FCA A Saffery LLP 71 Queen Vlctorla Street London EC4V 4BE

Docusign Envelope ID." 41B9cC0041C&4A296F-380Sl11FG46D Tollemache (Buckmillster) Charitrdble Trust Trustee'5 Teport For the year ended 5 April 2024 The Trustees present their report together with the financial statements for the Trust for the year ended 5 April 2024. The legal and administrative infortnatson Set out on page 3 form5 part of thi5 report. Oblects The Tollemache (Buckminster} Charitable Trust is a charitable trust for general charitable purposes governed by a Charitable Trust Deed and constituted as an unincorporated association. Actlvltles and achlevements durlng the year During the year the Trust made donations of £24,92S {2023: £19,632) to various organisations in line with its objects. Financial review During the year the charity received incoming resources of £39.70812023.. £38.886) and had total outgoing re.sources of £37,94612023.. £31.386) which re.sulted in net incoming re.%ource.E £1,762 {2023.. E7,500). The Trust made a total gain on investments during the year of £79,38812023.. £107,588 loss). Overall, the Trust showed a net increase in funds of £81,150 (a decrease in 2023 of £100,088). ststement of trustees. responslbllltles The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable12w and United Kingdom Accouniing Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for cach financial year which give a true and fair view of the state of affairs of the Trust and ol. the incoming resources and application of resources of the Trust for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP IFRS102): make judgements and estimates that are reasonable and prudent., state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the finanaal statements., prepare the finanthal $tements on the going ¢on¢ern basis unless if is inappropriate to pre5uffle that the charity will continue in bu5ines5. The Tru.stees are respo[L]ble lor keeping pmper accounting records that d1clOSe wth reasonahle accuracy at any tirne the financial p051tion of the Trust and to enable them to ensure that the financial statement cornply with the Charitie5 Art 2011. the applicable accounting regulation5. and the provision of the Trust deeds. They are also responsible for safeguarding the assets ofthe Trust and taking reasonable steps for the prevention and detection of fraud and other irregularitie& The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the Trust's governing document. the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland published on 16 July 2014.

Docusign Envelope ID." 41B9cC0041C&4A296F-380Sl11FG46D Tollemache (Buckmillster) Charitrdble Trust Trustees. Report (continued} For the year ended 5 April 2024 Organisational structure The Tru.stees wha have served during the year and since the year end are Set out on trustees and charitable information page. Trustees are appointed by the Board of Trustees. Major decisions relating to the strategy and policies of the Trust are made by the Trustees as a board. The Trustees meet regularly to review the perforniance of the investment portfolio and discuss donations. The day to day administration is carried out by Buckminster Management Limited. Risks The major risks to which the Trust is exposed. as identified by the Trustees. have been reviewed and the Trustees are satisfied that systems have been established to mitigate these risks. The Trustees recognise that one of the main risks they face include5 the performance of their investments. To mitigate this risk investments are held by reputable investment managers authori5ed by the FCA and Trustees receive quarterly perforniance reports and meet with the investment manager5 to review investment perforniance against recognised benchmarks. Reserves polley and grant maklng pollry Donations made by rhis Trust are entirely at ihe discretion of the Trystees and there are no materlal flxed obligations or undertakings. However. rhe Trustees recognise the need to maintain a level of rescrvLS in order for the Trust io continue. Free reserves at the year end were £41,22312023.. £70,928). The Trust owns an investment portfolio and although the Trustees have the power to use investments as income. those investmen15 are not regarded as reserves. The Trustees have identified that reserves other than the investment portfolio need only to be a minimal level and this level continues to be maintained. To maintain the reserves necessary to continue in the future, the Trustees recognise that total expenditure during the year should maich total income, in so far as it is possible, whilst also recognising that the Trustees lin conjunction with the investment managers) may need to consider repositioning the invesrment portfnlio where appmpriate to maintain the hlstorical level of income. The permanent endowment fund represenrs the value of the assets received from the Earl of Dysart Will Trust Charitable Fund, ttjgether with the capital profits or losses arising fvom revaluation and reinvestment of those assets. Surplus incotne not distributed during the year is added to the unrestricted fvnd, and is available for future charitable distribution5. Publlc benefit The Trustees have referred to the guidance contained in the Charity Commi5sion'5 general guidance on public benefit when reviewng the aims and objectives and in planning the future activities. In particular the Trustees consider how planned donations will contribute to the aims and objectives they have set. The Trustees consider the current ]x)licy for making donations delivers public benefiL Details of the objects which form the basis of this policy are given in the'Reserves policy and grant making polirf section of this reix)rL

Docusign Envelope ID." 41B9cC0041C&4A296F-380Sl11FG46D Tollemache (Buckmillster) Charitrdble Trust Trustees. Report (continued} For the year ended 5 April 2024 Investment policy and powers There are no restrictions the Trusvs power to invesL The investment strategy is set by the Trustees at such times as they deem this necessary. The Trustee5 consider the income requirements, the risk profile and the investment manager's view ofthe market prospects in the medium terni. The unrestricted and pernianent endowment funds may be invested in any type of investmenL The strategy is reviewed regularly wth the Trust's investment managers. By virtue of the governing document the Trustees have (subject to the matter5 therein mentioned) all the investment powers of beneficial owners. Plans for the future The Trustees intend for the Trust to continue operating with the same aims and objectives as set out above in the report for the foreseeable future. Postyearend The Trustees cunsider that the Trust is able operate for at least 12 months from the date of signing the accounts and. a5 such. is a going concern. Signed on behalf of the Trustees tr 8QIB93ETDAFUi4 Slr Rlchard Tollemache Trustee Date.. 28 January 202 5

Docusign Envelope ID." 41B9cC0041C&4A296F-380Sl11FG46D Tollemache (Buckminster) Charitable Trust Independent examinerfs report For the year ended 5 April 2024 I report to the Trustees on my examination of the accounts of the Tollemache IBuckminster) Charitable Trust [the Trust) for the year ended 5 April 2024. Respertlve responslbfilltles of Trnstees and examlner As the charity Trustees ofthe Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Art 2011 {'the Act.). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Acr and in carrying out my examinarion I have followed all rhe applicable Directions given by the Charity Commission under seciion 145{5)(b) of the ACL Basls oflndependent examlnerfs report 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 Trust 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 undcrtsken do not provide all the evidence that would be required in an audii and consequently no opinion is given as to whether the accounts present a'true and fair view, and the rewrt is limited to those matters set out in the statement below. Independent examlner's statement I have Lompleted my examination. I confirn) that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. . accounting records were not kept in respect of the Charity as required by Section 130 of the Act., or 2. the accounts do not accord with those records: or 3. the accounts do not comply wth the applicable requirements concerning the form and content of ac¢outLL¥ set out itl the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the ac¢ounts gve a'true and fairVie which is not a matter considered a5 part ofan 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 understanding of the accounts to be reached. Do¢u4iMdty'. 28 January 2025 Timothy Gregory FCA CTA For and on behallof Saffery LLP Chartered Accountants 71 Queen Victoria Street London EC4V4BE

Docusign Envelope ID." 41B9cC0041C&4A296F-380Sl11FG46D Tollemache (Buckminster) Charitable Trust Statement ofFinancial Activities For the year ended 5 April 2024 Unrestr6rted funds 2024 Pernianent endowment 2024 Total funds 20Z4 Total funds Z023 Note Income from Investments Interest 38.614 1.094 38.614 1.094 38.747 139 Total Income 39.708 39,708 38.886 Expenditure on RaisinR Funds 9.759 127 9.886 9.379 Charitable activities 28.060 28.060 22.007 Total expendlture 37,819 127 37,946 31.386 Net (deflclt}/lncome before Investment movement Net gain/ (lossl on Invesrments 1.889 78.368 1127) 1.020 1.762 79.388 7.500 (107.5881 Net Income/(deflclt) 80,257 893 81.150 100,088 Net movement In funds 80,ZS7 893 81.ISO (100,088) Total funds brought forward 1,234,656 15.914 1,2SO.570 1,350,658 Total funds carrled fonvard 1.314,913 16,807 1,331.720 I,ZSD,570 The Statement of Financial Activities includes all gains and losses in the year. All ofthe above amoutlts relate to continuing artiwtie The notes on pages 10 to 16 lorm part of these financial 5tatefflents.

Docusign Envelope ID." 41B9cC0041C&4A296F-380Sl11FG46D Tollemache (Buckmillster) Charitrdble Trust Balance Sheet As atSApril 20Z4 2024 2023 Note Fixed assets Investments 1.290.497 1.179.642 Current assets Cash at bank and in hand 48.960 48.960 91.957 91.957 Current Liabilities Creditors.. amounts Falling due within one year 7,737 21,029 Net current assets 41.223 1331720 70,928 1250 570 Netassets Funds Permanent endowmeni funds Unrestricted funds 16.807 1,314,913 1331720 15,914 1,234,656 12SO 570 These financial statements were approved by the Board of Trustees on .. signed on its behalf by.. Sir Richard Tollemache Trustee Charlty No. 271795

Docusign Envelope ID." 41B9cC0041C&4A296F-380Sl11FG46D Tollemache (Buckmillster) Charitrdble Trust Notes to the Financial Statements For the year ended 5 April 2024 Accounting policies 1.1 Basis of accounting The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the notes to these accounts. The financial statements have been prepared in accordance with the Charities SORP IFRS1021- Accounting 2nd Reporting by Charities.. Statement of Recommended Pracbce applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Repuhlic of Ireland (FRS 102) second edition. and the Financial Reporting Stsndard applicable in the United Kingdom and Republic of Ireland (FRS 1021 and the Charities Act 2011. The Trust has taken advantage of the provisions available to smaller entities as prescribed in the SORP, including the ability to dispense with the presentation of a cash flow statement The Trust constltutes a public benefit entity as defined by FRS 102. 1.2 Golng concern ThLI Trustees consider that there are no materlal uncerralnties about the Trust's abi15ty to continue as a going concern, and that the Trust has adequate resources to contlnue in operational existence for the foreseeable future. 1.3 Investment Income Investment income is accounted for in ihe period in which the Trusi is entitled to receipL 1.4 Expendlture Liabilities are recognised as expendityre as soon as there is a legal or constructive obligation committing the Trust io ihat expenditure. it is probable that serrlement will be requ5red and the amount of the obligation can be measured reliably. Expenditure is recognised on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings. 1.5 Investments Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial actiwties includes the net gains and losses arising on revaluation and disposals throughout the year. io

Docusign Envelope ID." 41B9cC0041C&4A296F-380Sl11FG46D Tollemache (Buckmillster) Charitrdble Trust Notes to the Financial Statements (continued) For the year ended 5 April 2024 Accounting poliae5 (continued) 1.6 Reallsed and unreallsed galns and losses All gains and losses are taken to the Statement of Financial Actiwties as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired after the First day of the financial year. Unredlised gains and losses are calculated as the difference between the fair value at the year-end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activitie& 1.7 Resources expended No remuneration or expenses were paid to the Trustees in the year. The Trust has no directly employed staff. Costs of generation income compromise those costs directly attributable to managing the investment portfolio and raising investment income. 1.8 Taxatlon The Trust is a registered charity and is not liable to United Kingdom income tax or corporation tax on charitable activitie& 1.9 Fundaccountlng Unrestricted funds are spent or applled ar the dlscredon of the Trustees to further the Trust's purpose, A receipt from the Earl of Dysart Will Trust Charitable fund has been included as a permanent endowment fund and rhe income arising is classed as unrestricted. Expendlture Dlrert Costs Support Costs 2024 Total 2023 Total Note Raising funds 9.886 9,886 9,379 Charitable activities: Donations Accountanry & administratio 24,925 24,925 19,632 3.135 3.135 2.375 Total charitable artivities 24.925 28,060 22,007 Total expenditure li

Docusign Envelope ID." 41B9cC0041C&4A296F-380Sl11FG46D Tollemache (Buckmillster) Charitrdble Trust Notes to the Financial Statements (continued) For the year ended 5 April 2024 Investments 2024 2023 Quoted investments Cash held as part of porttolio 1.290.497 9.571 1,179.642 598 Total Investments 1,300.068 1,180,240 Quoted investments: Market value 6 April 2023 Additions at cost Disposals ar opening book value Equali.sation Net unrealised investment gainslllosses) 1,179.642 4S,220 (13.615) 11491 79,399 1,287.230 107,588 Market value 5 Aprll 2024 1290 497 1 179642 Hlstorlcal cost as at 5 April 2024 901 162 866 088 Investment at market value comprised.. Overseas unit trust 1.290.497 1,179,642 Total 1290 497 1179642 All investments are held for charltable purposes and are Ilsted on a recognised Stock Exchange in theUK. The Volare Offshore Income Fund Z Inc investment is considered material to the TrusL The Trust holds 1,785,908 units in the fund with a market value of £1,290,497 and a historic book cost of £901,162. Credltors: amounts falllng due wlth one year 2024 2023 Accruals Trade Creditors 5,757 1,980 19,229 1,800 12

Docusign Envelope ID." 41B9cC0041C&4A296F-380Sl11FG46D Tollemache (Buckmillster) Charitrdble Trust Notes to the Financial Statements (continued) For the year ended 5 April 2024 Charitable donations 2024 2023 Alzheimers Society Bassingthorpe PCC Breakthrough Breast Cancer Buckminster and Barrowby Cricket Club Bu¢kminster & Sewstern PCC Buckminster Cricket Club Buckminster Parish Church Buckminster Village Hall Cancer Re.search Clean Up UK Cosron PCC CRY Dog A.l.D Dementia UK Derby, Leicester & Rutland AirAmbulance Friends of Uramho & Mwahnala Grantham PCC Churchwardens HL.Ip for heroes Hnnington PCC Medecins Sans Frontiers Mission Motorsport North East Red Squirrels NSPCC National Osteoporosls Soclety Oxfam Parkinson's Disease Society Samaritans School Readers Sight Savers Silk Silk Willoughby South Witham PCC Sproxton PCC Stroke A550ciation Thrombosis UK The Passage Young Leice5ter5hire 500 loo 500 loo 200 4,000 4.000 1,000 2.907 1,000 loo 1,000 loo 2,500 1,000 250 2.500 1,250 2,000 loo loo loo loo 500 300 2.500 1,000 1,000 1,000 4,000 2,500 75 125 loo loo 500 loo loo 1,500 1,500 2,500 24,925 19,632 Related party transactions During the current and previous years there were no transactions with any parties related to the charitable trusL 13

Docusign Envelope ID." 41B9cC0041C&4A296F-380Sl11FG46D Tollemache (Buckmillster) Charitrdble Trust Notes to the Financial Statements (continued) For the year ended 5 April 2024 Capital and Reserves Unrestricted funds Pernianent endowment Fund Total Fund Current year Note At 5 Aprll 2023 Income Expenditure Other gains/llos5e5) 1.234.656 39,708 (37,819) 78.368 15.914 1.250,570 39,708 (37,946) 79,388 {1271 1.020 At 5 Aprll 2024 1.314.913 1.33 1,720 Represented by: Investments Net current assets 1.273.690 41,223 1314913 16,807 1.290,497 41,223 1331720 Unrestrlcted funds Permanent endowment Fund Total Fund Comparatlve year Note At S Aprll 2022 Income Expenditure Other gainslllosses) 1.333.181 38,886 (31,261) {106.150) 17,477 1.350,658 38,886 [31,386) 1107,588) {125) (1,438) At S Aprll 2023 1234 656 1250 570 Represented by: Investments Net current assets 1,163.728 70,928 1.234.656 15,914 1,179,642 70,928 1.250,570 15.914 14

Docusign Envelope ID." 41B9cC0041C&4A296F-380Sl11FG46D Tollemache (Buckmillster) Charitrdble Trust Notes to the Financial Statements (continued) For the year ended 5 April 2024 Prior year SOFA Unrestricted funds 2023 Pernianent endowment 2023 Total Total 2023 2022 Note Income from Investments Interest 38.747 139 38.747 139 33,975 Total Income 38.886 38,886 33,979 Expenditure on Raising Funds 9.254 125 9,379 10,384 Charitsble acrivities 22,007 22,007 19,842 Total expendlture 31,261 12S 31,386 30,226 Net (deflelt)/lncome before Investment movement 7,62S 112SI 7,500 3,753 Net gainl (lossl on Investments (106.150) (1,438) (107.5881 97,925 Net Income/(deflclt) 98.525 1.563 100,088 101,678 Net movement in funds (98.525) (1.563) (100,088) 101,678 Total funds brought forward 1,333,181 17,477 1,350,658 1,248,980 Total fund5 carried fonvard 1234 656 1250 570 1 350 658 15