MARSHAL BERESFORD'S FUND
Registered Charity Number 272653
Financial Statements and Trustees Report for year ended 30 September 2023
PENNINGTONS
MANCHES
COOPER
Pennington5 Manches Cooper LLP
31 Chertsey Street
Guildford
Surrey
GU14HD
Tel.. 01483 791800
Fax.. 01483 424177
Our Ref. 20014411APMIOJTS

MARSHAL BERESFORD'S FUND {Rggistered Charity Numbgr 2726531
Contents of the financial statements for the year ended 30 September 2023
Item
Page
Charity Information
Examiners, ReFX)rt
Trustees, Report
Balance Sheet
Income Expenditure
Notes
9-11

MARSHAL BERESFORD'S FUND IRegi$tered Charity Number 2726531
LEGAL & ADMINISTRATIVE INFORMATION as at 30 September 2023
GOVERNING INSTRUMENT:
The Trust was established by Deed of Settlement dated 18 July
1849 by Alexander James Beresford Hope Ilhe Settlor)
CHARITY REGISTRATION NO: 272653
CURRENT TRUSTEES:
Thè Most Hon Arthur Patrick Marquèss of Donègall
Richard George Reade
James Robert Hamilton Stubber
Robert Michael Wilson-wright
PRINCIPAL ADDRESS FOR
CORRESPONDENCE..
Penningtons Manches Cooper LLP
31 Chertsey Street
Guildford
Suirey
GU14HD
SOLIC￿ORs & ACCOUNTANTS.. Penningtons Manches Cooper LLP
31 Chertsey Street
Guildford
Surrey
GU1 4HD
INVESTMENT MANAGERS:
Rathbones incorporating Investec Wealth and Investment
30 Gresharn Street
London
EC2V 7QN
INDEPENDENT EXAMINERS:
Azets Audit Sèrvi￿$
Ashcombe Court
Woolsack Way
Godalming
Suirey
GU7 1LQ
Charity Infotm81ion
P8ge 3

Marshal Beresford's Fund
Independent Examiner's Report
Forthe Year Ended 30 September 2023
Independent Examiner's Report to the Trustees of Marshal Beresford's Fund.
I report lo the charity trustees on my examination of the financial statement of Marshal Beresford's
Fund (the charity) for the year ended 30 September 2023.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in
accordan￿ with the requirements of the Charities Act 2011 I'lhe Acfl.
I report in respect of my examination of the charity's accounts carried out under section 145 of the
2011 Act and in carrying out my examination I have followed all the applicable Direcb'ons given by the
Charity Commission under section 14515llbl of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no 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
2011 Act., or
the financial statements do not accord with those records., or
the financial statements do not comply with the applicable requirements Concerning the fomi
and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008
other than any requirement that the accounts give a 'lrue and fair view, which is not a matter
considered as part of an independent examination
I have no coneerns and have come across no other matters in connection with the examination to
which allenlion should be drawn in this report in order lo enable a proper understanding of the
accounts to be reached.
Debra Saunders FCA, Bsc (Hons)
Azets Audit Services Ltd
Ashcombe Court
Woolsack Way
Godalming
Surrey GU7 1LQ
Dated..
14 December 2023
Examiners, Report
Page 4

MARSHAL BERESFORD'S FUND (Registered Charity Number 2726531
Trustees. Report for the year to 30 September 2023
structure. governance and management
The administration of the Trust in¢luding preparation of a￿Ount$ is dealt with by the Trustees, solicitors,
Penninglons Manches Cooper LLP, at 31 Chertsey Street, Guildford, Surrey GU14HD
The Trust's investments are held in the nominee name of the Trustees, stockbrokers, Inveslec Wealth &
Investment Limited, who have been given discretionary investment rnanagemenl in accordan￿ wth the
Charity Commissioners Order dated 14 February 1995. The Trustees have no ethical investment policy.
The power to appoint new trustees is vested in the Primate of All Ireland for the time being.
ObJ9¢11vos and a¢llvltle$
The primary object of the trust is lo make grants towards the building or endowment of new churches in
Ireland with secondary objects to make grants to Stipendiary Curates who the Trustees Consider poor and lo
make grants towards the repair, resloralion or enlargement of existing churches for the lime being in Ireland.
No grants are lo be made lo the secondary objects until the Trustees have ascertained lo their satlsfaclion
that no funds are required for the primary object of the trust namely the multiplication of incumbrances in
I￿land.
Achlevements and performance
No money was reqUI￿d during the year lo 30 September 2023 for the primary purpose of the trust and no
money has been required for the making of grants to poor stipendiary curates. All grants made during the
year have therefore been made under the remaining secondary purposes of the trust namely towards the
repair, restoration Dr enlargement of existing churches in Ireland.
Regard for public benefit
The Trustees confirm that they have complied with the duty in the Charities Act 2011 to have due regard lo
the Charity Commission's guidance on public benefit and have reviewed the Charity Commission's publication
on this topic.
Investment policy and the perfomiance achieved against the policy
The Trust has a diverse equity and fixed interest portfolio managed by Inveslec Wealth and Investment,
through which il is hoped the portfolio will outperform a composite benchmark over lime. In the year lo 30
September 2023, the total return of the portFolio Inet of management charges) was +3.89QA 12022.'_8.01 Qkn)
and the benchmark lolal retum over the same period was +10.190/012022-6.390AI.
On 15 February 2023, the Trustees agreed to adopt a Total Return policy on considering donations, wherby
both the income and capital growth In excess of CPI inflation from 1 October 2022 might be considered as
part of distributable reserves. The adopb'on of this policy is intended to allow the investment management lo
be operated with less ¢onslrainl in their selection of inveslmenls.
With regard lo Environmental, Social and Governance IESGI issues in respect of investment strategy, the
Trustees require the investment manager to report on an ESG assessment of the portfolio investments on an
annual basis.
(continued overleafj
Trustees. Report
Page 5

Tru8tee8' Report forthe year to 30 September 2023 Icontinuedl
Financial revlew
The bulk of the grants are made by way ol half ye8rfy reimbursements to Ttrle RepresentslNe Church Body
{RCBI with direcl grants being made if surplus revenue is available. The Trustees meet annualty in
December when the level ol the reimbursèment to thè RCB and thè amount ol any othèr grants is 8greed for
thè coming year.
A5 all revenue is expended by way of grants the charty does not maintain a reseT¥e fund. The charity does
however ensure that there are sufficient funds in hand to meel the half yeady reimbursements to RCB.
In the meeting on 7 December 2023, the Trustees considered the total retum ol the portfolio against UK CPI
inflation. In this year, there was no available un8pplied Totsl Relum 8v8ilable lor allocation lo the Revenue
Fund.
During the year to 30 September 2023 reimbursements payable to the RC8 totalled £92,00012022'. £92.OfrJI.
Additional grants of £5.00012022. £15,000). Gross revenue arnounted to £104,05612022. £101,413)
At the meeting on 7 December 2023 it was ag￿e￿ to make half yearfy reimbursements to the RCB of
£ 46,00 • leaGhl and additional grants of £ Ll
were agreed.
.The Most Hon Arthur Patrick Marquess of Donegall, Trustee
On behalfof th
1115tee6
Dated
-.7..1 i&.J..Zo..¢S
Trustees, Report
Page 6

AIARSHAL BERESFORO'S FUND
8ALANCE SHÈET AT 30 SEPTEMBER 2023
REVENUE
CAPITAL
ACCOUNT
ACCOUNT
IUnre5trictedl (Endowmentl
2023
2022
TA
NOTE
Fixed A65ets
Investments
3.659.972
3.659,972
3,423.830
Current Assets
Total Cash 8t Bank and stockbrokers
134.178
14.461
148,640
306.346
Current Liobilltles
Amounts falling due within 1 year
154.9401
IS.1841
ieo,1241
113.9261
Net Current Asgets
79.238
9,278
88,518
292.419
Total Net A85ets
3 669,250
3,748,488
3.716,249
Funds
79.238
3,669.2SO
3.748.488
3,716.249
The financial statements have been prepared in accordan￿ wrth the Financial Reporting Standard applicab18 in lh8 Uniied
Kingdom and Republic of Ireland IFRS1021.
l.J 11120zS
Tlte finanoal statements ¥%*re approved by the Tru$iEe$ on........
. and were signad on its behalf by.
The Most Hon Arthur Patrick Marquess of Donegall. Trustee
On boh8ff or
rru8ieas
The note8 on pages 9-11 fomi part of these acrA)unts
Balance Sheet
Page 7

MARSHAL BERESFORD'S FUND
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2023
REVENUE
CAPITAL
NOTE ACCOUNT
ACCOUNT
Iunrestrictsdl (Endowmentl
2023
TOTAL
2022
TOTAL
Incom8 and Expenditure
Incoming R080urce8
Investment In¢ome
Deposit Interest
100,907
3,150
100.907
3.150
101.000
413
Total Incoming Resources
104.056
104,056
101A13
Resources Expended
Dired charitable expenditu￿".
Grants to Charities
L8gal and administrativ? costs
97.000
13,824
9T.1￿0
34,425
107.000
35,649
20,601
Total Resources Exp8ndod
110.824
20,601
131,425
142.649
Net Outgoing Re$our¢e$ forthe year
6,768
20,fj01
27.369
41.236
GalnsllLo$sesl on Investment assets:
R8alised during the year
Unrealised arising during the year
449,113
1389,5051
449.113
1389.5051
197,359
1605,4281
Total gainslllos5851 on investrn8nt a55ets
59,607
59,607
408,070
Net ￿￿eMent in Funds
16,7681
39,006
32.238
1449,3061
Funds brought forward at 1 October 2022
86,006
3.630,243
3.716.249
4,165.555
Funds carried fO￿ard at 30 September 2023
79.238
3,669,250
3.748,488
3,716.249
The notes on pages 9-11 fomi part of these accounts
Income Expenditure
Page 8

MARSHAL BERESFORD'S FUND
Notes to the A¢¢ounts for the year ended 30 September 2023
Accountin
Policies
The financial statements have been prepared in accordance with the charity's governing document, the
Charities Act 2011 and "Accounting and Reporting by Charities.. Statement of Recommended Practi
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191" The charity Is a Public
Benefit Entity as defined by FRS 102.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to
the exlenl required lo provide a true and fair view. This departure has involved following the Statement of
Recommended Practice for charities applying FRS 102 rather than the version of the Statement of
Recommended Practice which is referred to in the Regulations bul which has since been withdrawn.
lal Incoming resources are accounted for when they are re￿1Vable.
Ibl Grants payable are recognised when the trust is committed lo making the paymenL
Icl Legal & administrative costs represent costs associated with fulfilling the constitutional and statutory
requirements of the charity and are included on an accruals basis.
Idl All amounts are shown inclusive of non-recoverable value added tax.
lel Investments are included in the Balance Sheet at market value. The investments represent the
Permanent Endowment Fund and accordingly any gains or losses arising on those investments are
included as part of that fund.
lfj The trust is a registered charity (Charity Commission No.2726531 and is not liable to taxation.
Permanent Endowment
As there is no power lo expend capital the whole of the Trust's capital represents a permanent endowment
fund. Income arising on the endowment fund Is unrestricted.
Investment Income
2023
2022
UK Quoted..
Fixed Interest
Equity
Total:
21,511
79,396
100,907
28,541
72,459
101,000
Notes
Page 9

MARSHAL BERESFORD'S FUND
Notes to the A¢¢ounts for the year ended 30 September 2023 Icontinuedl
Grants
2023
2022
During the year the following grants were made..
Represenlalive Church Body
Lismore Cathedral
St Morgues Church
Total:
92,000
5,000
92,000
5,000
10,000
107,000
97,000
Le
al and administrative costs
2023
2022
Legal fees
Trustees, expenses
Independent Examiner's fee
11,808
318
1,698
13,824
20,601
34,425
12,420
1,650
14,070
21,579
35,649
Investment management fees Icapilall
Total:
The trust had no employees during the year12022". none)
Trustees are not remunerated but received £318 reimbursements of out of pocket expenses during the year
12022.'£Nill.
Fixed Asset Investments
2023
2022
Historical cost at 1 October 2022
Additions al cost
Disposals al cost
Cumulative adjustments to cost
Historical cost at 30 September 2023
2,887,737
2,266,346
11,640,699)
2,987,277
723,291
1822,8301
3,513,385
2,887,737
Cumulative unrealised gains al 30 September 2023
146,587
536,093
Market value per Balance Sheet
3,659,972
3,423,830
Structure of the portfollo by market value
Quoted Investments
Fixed Interest
Propety
Alternative Assets
Equity
100.00
20.59
4.32
12.40
62.68
100.00
11.00
5.62
11.78
71.60
Material Investments as /• of portfolio market value {of 5 /0 of above)
None12022'. none)
Notes
Page 10

MARSHAL BERESFORD'S FUND
Notes to the A¢¢ounts for the year ended 30 September 2023 Icontinuedl
Cash
2023
2022
Inveslec Income account
Inveslec Capital account
Penninglons Manches Cooper LLP Client Account
148,640
305,878
468
306,346
148,640
presented by..
Capital account per Balance Sheet
Revenue account per Balan￿ Sheet
14,461
134,178
148,640
211,490
94,856
306,346
Liabilities.. Amounts
falling due within one year
2023
2022
Independent Examiner's fee
Legal fees
Trustees, expenses
Grant due to Representative Church Body
1,740
7,200
1,650
7,200
46,000
54,940
5,184
60,124
8,850
5,076
13,926
Investment management fees
Total:
Notes
Page 11