MARSHAL 8ERESFORD'S FUND
Reglstered Charity Number 272653
Financlal Statomgnts and Trustsgs Report for year ended 30 Sgptsmbgr 2024
PENNINGTON5
MANCHES
COOPER
Pennington$ ManGhe5 Cooper LLP
Bolile Works
The Bars
Guildford
Surrey
GU14LP
Tel.. 01483 791800
Fax.. 01483 424177
Our Ref.. 20014411APMIOJTS

MARSHAL BERESFORD'S FUND IRegl$t•red Charlty Number 2726531
Contents of the Ilnanclal statements for the year gnded 30 September 2024
ltsm
Page
Charity Information
Examiner5. Report
Trustees. Report
B¢11È11)Ge Sheet
InGome Expenditure
Notes
11

MARSHAL BERESFORD'S FUND IRegls¢ored Charlty Number 2726S31
LEGAL & ADMINISTRATIVE INFORMATION a8 at 30 Septsrnb8r 2024
GOVERNING INSTRUMENT:
The Trust was established by Deed of sett￿rnent d8ted 18 July
1849 by ￿exander Jarne5 Beresford Hope (the Settlor)
CHARITY REGISTRATION NO..
272853
CURRENT TRUSTEES:
The Most Hon Arthur Patrick Marquess of Donegall
Richard George Reade
Jame5 Robert Hamilton Stutl)er
Ro￿rt Michael Wi130n-VVrighl
PRINCIPAL ADDRESS FOR
CORRESPONDENCE:
Penningtons Manches Cooper LLP
Bottle WoA(s
The Bars
Guildford
Surrey
GU14LP
SOLICITORS & ACCOUNTANTS- Pennirytons Manches Cooper LLP
Bottle Works
The Bai$
Guikjlord
Surrey
GU14LP
INVESTMENT MANAGERS:
Ratht￿neS incorporating Investec Wealth and Investment
30 Gresharn Street
London
EC2V7QN
INDEPENDENT EXAMINERS:
Azets Audit Services
A5hcombe Court
Woolsad( Way
Godalming
Surrey
GU7 1LQ
Charity lnlomiats.on
P8ge 3

Marshal Beresford's Fund
Independent Examiner's Report
Forthe Year Ended 30 September 2024
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 2024.
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 confim that no matters have come to my attention in connection
with the examination giving me cause lo 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 IHons}
Azets Audit Services Ltd
Ashcombe Court
Woolsack Way
Godalming
Surrey GU7 1LQ
Dated.. 6 January 2025
Examiners, Report
Page 4

MARSHAL BERESFORD'S FUND (Reglstered Charlty Number 2726531
Tru¥t*es' Report for the year to 30 Septembgr 2024
Structure, governance and managèment
The admini5tralion of the Trust including preparation of accounts is dealt wlth by the Trustee8' solicitors,
Penningtons Manches Coopei LLP, at Bottle Works, The Bars, Guildford. Surrey GU14LP
The Trust's investments are held in the nominee name of the Trustees, sloGkbrokers, Investec Wealth &
Investment Limited, Who have been given discretionary Investment managemenl in aGGu[daii￿ willi tl)e
Charity Commissioners Order dated 14 February 1995, The Trustees have no ethical investment policy.
The power to appoint new trustees is vested in the Prim8te of All Ireland for the tirne being.
Objective5 ond actlvities
The primary object of the trust is to makè grants towards Ihe building or endowment ol new churche5 in
Ireland secondary objeds to make grants to Stipendiary Curates who the Trustees consider poor and to
make grants towards the repair. re51oTation or enlargement of existing churches and associated buildings for
the b.me being in Ireland. No grants are to be made to the secondary objects until the Trustees have
ascertained to their Satisfaction that no funds are required foi the prfmary object ol the trust namety tne
multiplication ol incumbrances in Ireland.
A¢hlevements and performance
No money was requirèd during the year to 30 September 2024 for thÉ¢ primary purpose of the Injst and no
money has been required fof the making ol grant5 to poor stipendiary curates. All grants made during the
ye81 have the￿fOre been made under the Tem8ining secondary purposes of the trust namely towards the
repair, restoration or enlargement of existlng churches in Ireland.
Regard for publSc benefft
The Trustees confirm that they have complied with the duty in the Charities Act 2D11 to have due regard to
the Gharity Commission's guidance on public benefit and have ￿vieWed the Charity Commission's publication
on this topic.
InVestMe￿t policy and the perforni•nce aehleved againat the poliey
The Trust h85 8 diverse eqvity and lixed interest porttolio managed by Rathbones We81th and Investment
Management. through which it is hoped the portfolio will outperform a composite benchmark over b"me. In the
year to 30 September 2024, the total relum of the portfolio (net of management charges) was +12.19%
12023.'+3.89%1 and the benchmark total return over the same period was +18.23%12023 +10.19QAI.
On 15 FebrLJ8ry 2023, the Ttustees agreed to adopt a Total Return policy on considering donations, wherby
both the income and capil81 growth in excess of CPI inflation from 1 October 2022 might be considered as
part of distributable reserves. The adoption of this policy is inlended to allow the investment managernent to
be operated wth less constraint in their selection of investments.
With regard lo Environmental, Soual and Governance IESGI issues in respect of investrnent strategy, the
Trustees Tequire the investment manager to report on 8n ESG assessment of the portfolio investments on an
annual basis.
(contlnu8d overleaQ
Trustees, Report
P8ge S

Tru¥tee8' Réport for the year to 30 September 2024 leontlnuedl
Flnanclal r•vl•w
The bulk of the grants are m811e by way of hall yearly reimbursements lo Tha Representative Church Body
IRCBI with direct grants being made if surplus revenue is available. The Trustees meet annually in
December when the level of the reimbufS8m6nt to the RCB and the amount of any other grants is agreed for
the coming year.
As all revenue Is expended by wuy of graiits ihe Gharity does not maintain a reserve fund. The charity doe
however ensure that there are sufficient funds in hand to meet the half yearfy reimbursements to RCB.
In the meeting on 5 DeCemi￿T 2024, the Tru8lees considered the lolal return of the portfolio against UK CPI
inflation. In this year, there w8s £122,238 unapplied Total Return available for allocation to the Revenue
Fund. The trustees agreed lo appty £ IS ocyc to the Revenue Fund the year lo 30 September 2025.
During the year to 30 SepleTnber 2024 reimbursements payable to the RCB tolalled £92,00012023.' £92,UOUI.
No addlllonal grants weie made during the year12023'. £5,000). Gr055 revenue amounted to £100,92212023-.
£104,058)
Al the rneeting on 5 Decernber 2024 it was agreed to make half yearly reimbursements to the RCB of
£ It4,¢XQ leach) and additional gTants of £ ig,000 were agreed.
.Thè Most Hon Arthur P8trl¢k Marquess of Donegall, Tru51ee
On behaifofihe Tmstees
Dated
Oly
Trustees. Report
Page8

MARSHAL BERESFORD'S FUNO
BALANCE SHEET AT 30 SEPTEMBER 2024
REVENUE
CAPITAL
ACCOUNT
ACCOUNT
(Unrestricted) (Endowrnentl
2024
TOTAL
2023
TOTAL
NOTE
Flxed Assots
Invasknonls
4.079.237
4.079.237
3.659.S72
Currgnt A66ets
Total Ca8h at Bank ané stod(brokers
81,654
155,0341
28.820
148,840
Current Llabllltles
Arnounts falling due Vlithin 1 year
19,0001
15,5731
114,5731
160.1241
Net Curyent Assets
72,654
160.6071
12,047
88,516
Totsl Net Assets
72,654
4.018,630
4,091.284
48,488
Funds
72.654
4.018,630
4,091.284
3,748,488
The financial statements have been prepared in accoTdan¢e with the Financial Reporting Standard applicable in the Unil
Kingdom and RepUb￿'t of Ireland IFRS11f21.
The financial statements We￿ approv8d by the Trustee5 on........
. an¢J We￿ signed on its behalf by".
. The Most Hon Arthur Patrick Marquess of Donegall, Trustee
On beh811of*he
ruslees
The rL)tes on pages 9-11 lomi part of the58 accounts
Balance Sheet
Page 7

MARSHAL BEResFORD'S FUND
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2024
REVENUE
CAPITAL
NOTE ACCOUNT
ACCOUNT
IUnre8trfct8dl (Endowfflgntl
2024
TOTAL
2023
TOTAL
Inctyno and Expendlturo
Incomlng Rosources
Inveslrnent ￿nCome
Deposil Interest
99,247
1.675
99,247
1,675
100,907
3,150
Totsl Incomlng Re8QUfGgS
100,922
100,922
104.056
R#sout￿$ Expended
DlrEGt chaTildblv ¢xyviidKure.
Gr8nts lo Charities
Legal and 8dminislr4live cosls
92,OOD
15,506
92.000
37.376
97,000
34.425
21.870
Total Resourc05 Expended
107.506
21,870
f29,376
131.4
Not Outgoing Resources lorthe year
145811
121,8701
128,4541
127,3691
Goin51lLossesl on invesbnent as88t8'.
Realised during the year
Unrealised ar151ng dunng the year
64,393
JLR),657
64,393
306,857
449,113
1389.3051
Total 9alns1(lossèsl on Snvestment ￿ets
371,250
371,250
59,607
Net Movement In Funds
16.5841
349.380
342,796
32,238
Funds broughtforward at 1 Octobor 2023
79.238
3,669,250
3,748,488
3,716,249
Funds carvied forward at ao Sept•m￿r 2024
72,654
4.018,630
4.091,284
3,748,488
The note$ on pages ￿11 fotm part of t￿8@ accoun15
Income Expenditure
Page 8

MARSHAL BERESFORD'S FUND
NotPS to the Accounts for the year ended 30 September 2024
Accountln
Policies
The financial 5ts1ements have been prepared in accordance with the charity's goveming document, the
Charities Act 2011 and "Accounting and Reporting by Charities.. Statement of Recommended Pracb"ce
applicable lo char((ies preparing their accounts in accordance ¥Mlh the Financial Reporting snandard
applicable in the UK and Repuljlic of Ireland {FRS 1021 leffe¢live 1 January 20191" The charity is a Public
Benefit Entty as defined by FRS 102.
The financial statements have departed from the Charib'es (Accounts and Reports) Regulab"ons 2008 only to
the exlenl required to provide a true and fair view. This departure has involved followng the Stslement of
Recommencled Pra¢rice for charitles applylng FRS 102 rather than the ve15iuii uf tlie Slalement of
Recommended Practice which is referred lo in the Regulations but which has since been withdravffl.
{al Incoming resourres are accounted for when they are re¢eivable.
Ibl Grants payable are recognised when the trust is committed to making the payment.
Icl Legal & adminislrats've costs represent costs associated wth fulfilling the conslilutional and statutory
requir8m¢nts of the charty and are included on an accruals bas1S.
Id) All amounts a￿ Shown inclusive of non-recoveTable value added tax.
(el Investment8 aro included in thè Balance Sheet at market val(Je. The investments represent the
Permanent Endowment Fund and accordingly any gains or losses arising on those investments are
included as part of that fund.
If) The trust is a registered charity (Charity Commission No.2726531 and is not liable to taxation.
Permanent Endovmient
As there is no p0￿r to expend capital the whole of the Trust's capital represents a permanent endowment
ftjnd. Income arising on the endowment fund is unrestricted.
Investment In¢omo
2024
2023
UK Quoted..
Fixed Interest
Equity
Total:
24,024
7.fj 223
99,247
21,511
79.396
100,907
Notes
Page 9

MARSHAL BERESFORD'S FUND
Notss to the Accounts for the year ended 30 Septembgr 2024 {contlnuodl
Grants
2024
2023
During the year the following grants were made..
Representative Church Body
Lismore Cathedral
Total=
92,000
92.000
5.000
97,000
92,000
Lo al and admlnlstrdtive costs
2024
2023
Legal fees
Trustees, expenses
Independent Examinef s fee
13,080
626
1.800
15,506
21,870
37,376
11,808
318
1,698
13,824
20,601
34,425
Investment management fees Icapitall
Total:
The trust had no employees during the year12023'. none)
Trustees are not remunerated bul received £626 reimbursements of out of pocket expenses during the year
(2023.. £318}.
Flxed Ass8t Investments
2024
2023
Historical cost al 1 October 2023
Additions at cost
Disposals at cost
Gumulalive adjustments lo cost
Historical cost at 30 September 2024
3.513,385
726,975
1614,5681
2,887,737
2,266,346
11,640,699)
3,625,792
3,513,385
Cumulative unrealised gains al 30 September 2024
453,445
146,587
Market value per Balanc8 Sheet
4,079.237
3,659,972
Structure of thg portlollo by markot valuè
Quoted Investments
Fixed Interest
Property
ternatlV8 Assots
Equity
100.00
21.86
3.26
10.77
64.11
100.00
20.59
4.32
12.40
62.68
Matovlal Investrn•nt$ a$ % of portlollo market value lof 5% of above)
None12023'. none)
Notes
Page 10

MARSHAL BERESFORD'S FUND
Nots$ to the Accounts for th9 year ended 30 September 2024 Icontlnuedl
Cash
2024
2023
Rathbones Capital account
Penningtong Manches Cooper LLP Client Account
26,554
66
26,620
148,640
148,640
represented by..
Capitsl account per Balance Sheet
Revenue account per Balance Sheet
155,0341
81,654
26,620
14,461
134,178
148,640
Liabilities: Amounts
falling due within one year
2024
2023
Independent Examiner's fee
Legal fees
Grani due to Representative Church B￿lY
1,80D
7,200
1,740
7,200
46,000
54,940
5,184
60.124
9,000
5,573
14,573
Investment management fees
Total..
Notes
Page11