MARSHAL BERESFORD'S FUND
Registèred Charity Number 272653
Financial Stataments and Trustees R&port for year ended 30 September 2025
PENNINGTONS
MANCHES
COOPER
Penningions ManGh8s Cooper LLP
Bottle Works
The Bars
Guildlorcl
Surrey
GU14LP
Tel." a1483 791800
Fax. 01483 424177
Our Rel.. 20014411APMIOJTS

MARSHAL BERESFORD'S FUND (Registered Charity NLtmb&r 2726531
Contents of the financial statements for the year ended 30 September 2025
Itém
Page
Charity Information
Examiners, Report
Trustees, Report
Balance Sheet
Incorne Expenditure
Notes
9-11

MARSHAL BERESFORD'S FUND (Registered Charlty Number 2726531
LEGAL & ADMINISTIiATIVE INFORMATION as at 30 Sèptember 2025
GOVERNING INSTRUMENT..
The Trust Wa5 established by Deed ol Seluernenl dated 18 July
1849 by Alexander James Beresford Hope Ith9 Setuorl
CHARITY REGISTRATION NO: 272653
CURRENT TRUSTEES..
The Most Hon Arthur Patrick Marquess of Donegall
Richar¢J George Reade
Jame5 Robert Hamilton Stubber
Rd)ert Michael Wilson-wrigm
PRINCIPAL ADDRESS FOR
CORRESPONDENCE:
Penningtons M8nches Coop9r LLP
Bottle Works
The Bars
Guildford
Surrey
GU1 4LP
SOUCITORS & ACCOUNTANTS.. Penninglons Manthes Cooper LLP
Bottla Works
The Bars
Guildford
Surrey
GU14LP
INVESTMENT MANAGERS:
Rathbone5 incorp)rating Investe¢ Wealth and Investrnenl
30 Gresham StrEet
London
EC2V 7QN
INDEPENDENT EXAMINERS..
A2ets Audit Servi￿$
Ashcombe Court
Woolsack Way
GodalmiryJ
Surr8y
GU7 1LQ
Charty Information
Page 3

Marshal Beresford's Fund
Independent Examiner's Report
Forthe Year Ended 30 September 2025
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 2025.
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
Date'.15 Decetnber 2025
Examiners, Report
Page 4

MARSHAL 8ERESFORD'S FUND (R8gist•red Charlty Number 272653)
Trustees. Report for t￿ ygar to 30 Sèpt•mb•r 2025
structur•. gav•rnance and management
The administration of thé Trust includ1ng preparation of accounts is dealt with by the Trustees, solicitors,
Penningtons Manches Cooper LLP, al Bottle Works, The Bars, Guildford, Surrey GU1 4LP
The Trusl's investments are held in the norninee name of the Trustees, stockbrokers. Investec Wealth &
Investment Lirnit8d. who have been given discrelionary InvgStm8nt management in accordance with the
Charily Commissioners Ord8r d8t8d 14 February 1995. The Trustees have no ethical investrnent policy.
The power lo appoint new trustees Is vested in the Primate of All Ireland lor the lirne being.
Objectives and act4Viti¥$
The primary objecl of the trust is to make grants towards the building or endowment of rw churches in
Ireland with secondary objects to make grants to Stipendi8ry Curates who the Trustees consider wor and to
make grants towards the repair, restorat10n or enlargement of existing churches and associated buildings for
thè lime being in Ireland. No grants are to be made to the secondary objects until the Trustees have
ascertained to their satisfaction that no funds a￿ required for the primary object ol the tru8t n8tnely the
multiplication of incumbrances in Ireland.
Aehiev•ments and perforniance
No rtioiitry was required during the year to 30 Sept8mber 2025 for the primary purpose of the trust and no
money has been r8quir6d for the making ol grants to poor sts'pendiary ¢urat85. All grants made durirvj the
year have therefore been made under the remaining secondary purposes of the trust namely towards the
repair, restoration or enlargetllent of existing churches in Ireland.
Reoard for public ben•fit
The Trustees confirrn that thèy have complied with the duty in the Charities Act 2011 to have du8 regard to
the Charity Commission's guidance on public benefit and have reviewed the Charity Commission's publicakn'on
on this topic.
InveBtment policy and tho p•rfomiance achieved against the policy
The Trust has a diverse equity and fixed Inte￿St portfolio managed by Rathbon8s Wealth and Investment
Manaoement, through which it is haped the portfolio will outperform a composite benchmark over lime. In the
year to 30 September 2Q25, the total return ol the portfolio Inet ol management charges) was +5.8%
12024".+12.19%1 and the t*nchm8rk total rettLm over Ihe same period was +11.7%12024 416.23°/01.
On 15 February 2023. the Trustees agreed lo adopt a Total Return policy on considaring donations, wherby
both the ￿nCOme and capital growth in excess of CPI innalion from 1 October 2022 might be considered as
Part of distributable reserves. The adoption of Ih15 policy 15 Intended to allow the +nveslment managemen¢ to
be operated with less constraint in their selection of investrnents.
With regard to EnvironFnellt81, Social and Governance IESGI issues in resped of investment strètegy, the
Trustees require the investment manager to réport on an ESG assessment ol the portfolio investments on an
annual basis
(continued overl•aQ
Trustees. Re￿rt
Page 5

Trustees. Report for th• year to 30 September 2025 Icontlnuedl
Reserves pollcy
As all revenue and allocations from lh8 Total Return Fund are expended by way of grants, the trustees do not
maintain a reserve fund. However, to ensure suffient funds are available to meet half yearly r&mbursements
to The Representative Church Body IRCBI, the trustee5 airn to en5ur8 a reserve of £70.000 is held on the
Revenue Account. The Trustee5 W15h to ensure this level is maintained to cover any shorl-tem volatility in
the revenue ￿CeIVed from the investment porifolio, while allowing the grants to wntinue to be paid
Financial r•vl•w
The bulk ol the grants afe rn8de by way ol hall yearfy reimbursements to The Rèpresentativè Church Body
IRCBI with direct gr8nts being rnade if surplus revenue is available. The Trustees meet annually in
December when the level of the reimbursement to the RCB and the amount of any other grants is ag￿ed for
Ihe coming year.
In Ihe meeting on 4 December 2025. the Trustees considered the total return of the wrtfolio against UK CPI
inllalion. In this year. there was £42,047 unapplied Total Relum available for allocalion lo the Revenue Fund.
The trustees ag￿ed to apply £ 17, 5-QC,, to the Revenue Fund in the year to 30 September 20261£23,000
in 20251.
During the year to 30 September 2025 reimbursernents payable lo the RCB lotalled £100,000 12024".
£92.0001. An additional grant £10.000 was made to St Mogue's Comtnunity group dunng the year12024..
None). Gross ravenue amounted to £108,53212024.. £100.9221
Al the meeting on 4 De￿rntEr 2025 it was ag￿ed to make half yearly reimbursements to th& RCB of
leach) and additional grants of £ 7, ¥L-i were agreed.
.The Most Hon Arthur Patrick Marquess of Donegall, Trust88
On behgifoflhe Ttustees
Dated
Trustees, Report
Page 6

MARSHAL 8ERESFORD'S FUND
BALANCE SHEET AT 30 SEPTEMBER 2025
REVENUE
CAPITAL
ACCOUNT
ACCOUNT
IUt7restrict•dl (Endowmenti
2025
TOTAL
2024
TOTAL
NOTE
Fix•d As$¢ts
Investment5
4,176,228
4,176,228
4,079.237
Current
Total Cash at 8ank and st¢xkbrokers
87,594
143.5571
44,037
26.620
Current Liabilitie¥b
ArrK)unts falling due ￿thin 1 year
19.31K>I
(S.6￿)
114.9961
114.5731
Net Current Assets
78.294
149.2531
29,041
32,047
Total Net Assets
78.294 Thr75 4.091.284
Fund5
78,294
4.128.975
4,205,269
4,091,284
The finanaal Statements have been prepared in acojrilance wlh the Finanoal Rerx)rting Standard appliGgble in th8 Llniled
KingdoFn and RepuNic of Ireland IFRS1021.
The financial statements ￿re apprDve(I by Ihe Trust885 on.£p..>i .¢fNIGI£: IL*)
. and were signed on Its behalf by..
. The Most Hon Arthur Pairid( Marquess of Donegall. Tru$lee
On beh&lfof I
rrustees
The notes on pages 9-11 fomi part of tt)ese a(twnts
Balance Sheet
Page 7

MARSHAL BEFiE$FQRD'5 FUND
STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENoeD 30 SEPTEMBER 2025
REVENUE
CAPITAL
NOTE ACCOUNT
ACCOUNT
IUThre8trfct￿1 (Endowmentl
2025
TOTAL
2024
TOTAL
InGomv and Expondlturo
Incomlng Resou￿9$
Inveslmenl Ir¢cffi8
DeFK)sil Int&ty$t
108.532
327
108,532
327
99.247
1.675
Total Incomlng R880urc8s
8,859
Nll
108,859
100.922
Rosourco8 Expond•d
Direct Charitab￿ ¢XPEnditur¢'.
Gr8nt51o Charities
Legal and administrative costs
110.OLX)
16.219
110,000
38,288
92.0
37.376
22.068
Totsl Ro¥ourc88 Expended
126,219 ￿6
148.288
129.376
Net Outgolng R•80uree& forthE yur
17,3001
122.0681
139.428
28,454
GalnsllLosse51 on investThnt a58ets'.
Realised during the yèar
Unrealised arisirrtj during the y8ar
11,9871
155.400
11,9871
155,400
64.3¥J
306.857
Total gain￿{101$e5j on ifiv•stn￿nI ass•ts
153.413
153,413
371,250
Trantsfer bBlwo4n fund6
Alkncallon of Toia Retum to Revenue ArLounl
23.000
IrJ,0001
Nll
Nll
Net MoverneTht In Fund8
5.840
108,345
113,98S
342,796
Funds brought IDrward at 1 October 2024
72,654
4.018.630
4.091,284
3,748,488
Fund¥ ￿rrIed lorward at 30 strptem￿r 2025
78,2
4,126,975
4205,269
4,091,284
The notes on pages 9-11 form pertef those
Incom8 E¥pendltur8
Paye 8

MARSHAL BERESFORD'S FUND
Notes to the Accounts for the yeor ¢nd•d 30 September 2025
Accountin
Policies
The financial slalemenls have been prepared in accordance with the charitys governing document. the
Charities Act 2011 and "Accounting and Reporting by Charities.. Statement ol Recommended Practice
applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland {FRS 102) {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 Rewrtsl Regulations 2008 only to
the exlenl required to provide a true and fair view. This departure has involved following the Statemenl of
Rerornmended PraGtIGe lur Gharities 8pplying FRS 102 rather than the version of the Statement of
Recommended Practice vthich is referred lo in the Regulations bul which has since been withdrawn.
{al Incoming resources are accounted lor when they are receivable.
Ibl Grants payable are recognised when the tru51 is colnmitted to making the payment.
Icl Legal & adminislralive costs represent Gosts ass￿l3ted with fulfillin9 the consb'lulional and slalulory
requirements ol the charily and are included on an accrua15 ba5l5.
Idl Ail amounts are shown indusive 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 g8ins or1055es 8rising on those investments are
included as part of that fund.
If) The trus11s a registered charity (Charity Cornmission No.2726531 and 15 not liable lo tsxalion.
Perman•nt
wment
As the￿ is no power lo expend capital the whole of tho Trust's capital Tepresenls a perrnanenl endowment
fund. Incomo arising on the endowment fund is unrestricled.
Investment Income
2025
2024
UK Quoted..
Fix8d Interest
Equity
Total:
22,580
85,952
IOB,532
24,024
75,223
99,247
Notes
Page 9

MARSHAL BERESFORD'S FUND
Notes to the Aceount5 for the year ended 30 September 2024 Icontlnu•dl
2025
2024
During th6 year the following grants were made..
Representative Church Body
St Mogue's CommunityGroup
Total..
100,000
10,000
110,000
92.000
92.000
I nd administrative costs
2025
2024
Legal fees
Trustees. expènses
Bank ¢haryes
Independent Examinerfs fee
13.536
578
13.080
626
2.100
16.219
22,068
38,288
1.800
15.506
21,870
37.376
Investment management fees (capital)
Total..
The trust had no employees during the year {2024'. none)
Fixgd Ass8t Investm•nts
2025
2014
Historical cost at 1 October 2024
Additions al cost
Disposals al ¢ost
Cumulative adjuslmenls to cost
Historical cost at 30 September 2025
3.625,792
934,104
{992,5141
3,513,385
726,975
1614,5681
3,567,383
3.625,792
Cumulative unrealised gains al 30 September 2025
608,845
4S3,445
Market value p8r Balance sheet
4,176.228
4,079,237
Stru¢ture ¢f the portfolio by market Value
Quoted Investments
Fixed Interest
Prop8rty
Allemative Assets
Equity
loo.00
20.02
100.00
21.86
10.77
64.11
67.32
Mat•rlal Investments as % of portfollo market value lof 5% of above)
None12024.' none)
Notes
Page10

MARSHAL BERESFORD'S FUND
Notos to th8 Accounts for the year ended 30 September 2025 (continued)
2025
2024
Rathtx>nes Income account
RathbDnes Capital account
Penningtons Manches Cooper LLP Client Account
850
43,098
89
44,037
26,554
66
26.620
represented by..
Capital account per Balance Sheet
Revenue account per 8alanrg Sheet
143,557}
87,594
44,037
155,034}
81,654
26.620
Llabllitles: Amounts
falling du• within on& year
2025
2024
Independent Examiner'5 fee
Legal fees
2,100
7,200
1,800
7.200
9,300
5.696
14996
9.000
5.573
14573
Investment m8nagèment fees
Total..
Related Party Transactions
Trustees are not remunerated but re￿1Ve¢j £578 reimbursements ol oijt ol pocket expenses during the
year12024.. £6261.
There were no other payments lo or from related parties during the year12024= none)
Notes
Page 11