Burdens, Charitable Foundation Trustees, Report and Financial Statements For The Year Ended 30 June 2024 Charity Number 273535 Burdens, Charitable Foundation Trustees Report and Financial Statements Year Endéd 30 June 2024 Contents Pages Board of Trustees and professional advisers Tnjslees Annual Report 2104 Independent Examinerfs Report Statement of Finanoial Activities Balance Sheet Notes to the Financial Statements 8t013 Burdens, Charitable Foundation Board of Trustees and Professional Advisers Rogistered Charity Name Burdens, Charitable Foundation Charlty Number 273535 Principal Office Casllefield Partners Limited 111 Piccadilly Manchester M12HY Trustees Timothy James Burden BS¢ Hilary Margaret Perkins MCSP SRP Sally Anne Schofield Dip.COT SROT Arthur David Burden Bsc MD FRCP Anthony David Burden, MA, PhD Edmund GeoTge Jenkins LLB Susan Eva Golllieb Cohen Jeremy Paul Burden {appointed 14 July 20231 Indepondont Examiner Helen Binns FCA Beever and Slrulhers One Express 1 George Leigh St Ancoals Manchester M4 5DL Bankers Co-operative Bank Pl¢ Balloon Slieel Manchester M60 4EP Solicitors Addleshaw Goddard LLP 1 Sl Peter's Square anchester M2 3DE Inv8Stment advlsers Casllefield Investment Partners LLP 111 Piccadilly Manchester M12HY Burdens, Charitable Foundation Trustees Annual Report Year Ended 30 June 2024 Reference and Admlnistratlve Detalls Reference and adminislralive details are shown In the schedule of B02rd of Trustees and professional advisers on the preceding page of thi5 report. Structure, GovornanGe and Management Burdens, Charitable Foundation (BCFI is consliluled as a charitable Ifusl, whlch was formed on 6 April 1977 by Mf Wilfred Thomas Burden and Mrs Anr¢ie Elizabeth Mildred Buiden. both of whom were Trustees until their deaths in 1983 and 1992 respectively. The present Trustees endeavour lo govern and direct the affairs of 8CF in a manneT which they believe accords with the wishes and intents of the selllors arsd within the idealisms that t17ey typified. BCF is governed by a deed of selllement dated 6 April 1977. The strategic management of BCF is cariied out by the Board of Trustees with appropriate professional assistance. Day-to-day running of BCF was carfied out during the year ended 30 June 2024 by Sally Schofield with external support, as required. The Tftjslees meet on average bi-monlhly. Prospective new Trustees allend one or more meetings before being invited formally lo become a Truslee. The Trustees, backgrounds as ¥egards experience, skill, age and localion 8re diverse. BCF owns 100 /0 of the subsidiary company, BCF Capital Limited I'BCFC'I, which holds investments and donates the company's profits to BCF via Gift Aid andlor pay5 dividends lo BCF. In order to further its chari18ble works, the charity works closely with Associations Burkinabe pour la Promotion des Aveugles el Malvoyants - I'UN-ABPAM'I - Burkina Faso's equivalent of the Nation81 Federation of the Blind in the UK. Oblectlves and Actlvllles BCF'S main acliviiy is the making of day-to-day payments lo support ch2rilable organisalions out of the income of the Irust fund- there are no formal restrictions on the charitable aetivilies that may be Sltpporled, bul the Trustees, main activities currenlty embr8ce the prevention and relief of acute poverty, subslanlially through the medium of educalion and healthcare and most especially In countiies such as those of sub-saharan Africa. In 2004 funding from BCF financed the original building and establishment of a subslanlial primary school, La Renaissance. in Ouagadougou Ithe capital city of Buikina Faso}, which is now owned and governed by a local foundation sel up for the purpose. La Renaissance offers education to underprivileged and disabled child¥en and in 2021-2022 BCF paFI-funded a secondary school. Lycée Inclusif Nonglaaba, with ABPAM with a view lo enabling SUGh pupils to continue their education beyond the primary level. The Tiustees continue lo keep under active consideration the besl means available lo them whereby BCF'S still comparatively modest income can most effectively impact on allevialing some ol the conditions of poverty which continue lo be excessively prevalent in the world al large and in sub-saharan Africa most particularly. Achl8vements and Performance BCF continued its financial support for Lycée Inclusif Nonglaaba by funding the completion of a spoils field and the purchase of sports equipment and funding visually impaired students. BCF also agreed to subsidise se¢relarial support in this first year of full operation. For the fiisl time in several years, thanks lo increased investment income. BCF'S finances have allowed it lo widen I￿ gr8nl making activities beyond La Renaissance and the Lycée, lo Repeie, a charity offering support lo street children in Ouagadougou. It has also made grants lo other organisalions whose aims are in line with BCF'S. The most significant new beneficiary was Heartbeat Africa, whose CUf(enl focus is providing meals lo 3,000 childien per week in Northern Kenya. Burdens, Charitable Foundation Trustees Annual Report Year End•d 30 June 2024 BCF made a loss in the current year, and the Trustees continue lo engage with Iheir investment advisors during the year wilh a view lo protecting BCF'S long term capital in a sustainable way. The subsidiary company, BCFC, has commilled lo supporting BCF in ils charitable endeavours and has enough capital to do so. In Ihe period il has paid dividends lo BCF. The main grant-making aclivilles are set out in the Slalemenl of Financial Affairs on page 6 and in notes sand 15. Publlc Beneflt D18closure The Trustees ¢onfirm they have complied with their duty to have due regard lo the guidance on public benefit, published by the Charity Commission, in exercising their powers and duties. The Foltndalion's chaiilable purpose 15 enshrined in ils objects and Ihe stralegy pursued by the Tiuslees continues lo support BCF'S aims and objectives. Plans for Futuro Perlods BCF'S current focus remains primarily upon promoting and enabllng the educalion of blind and visually impaired young people in Burkina Faso by providing financial support for La Renaissance School and the Lycée.11 will continue to work in Close co-operalton with the UN-ABPAM.11 considers the on-going co-operation be￿een BCF and the Ti¢Ta¢ Foundation in Belgium as being important in furthering ils aims. BCF has, however, broadened ils remit in the last Iwo years by supporting street chiklren in Ouagadougou and plans lo continue Ihis support. The Trustees have considered the funds which aTe likely to be available lo them over the nexl two lo three years and plan lo expand their grant making activily by supporting ¢harilies which relieve poverty or offer education lo children, primarily in sub- Saharan Afflca. However, Ihe Iruslees also recognise Ihe need to support charitable endeavours in the UK and this is reflected in the grant paid to The Charity Service which administers the Casllefield Charitable Fund. Over Ihe longer term, the Trustees would support the selling up a vocational school in para51el lo the secondary school should a suitable partner come forward. The trustees view this project as bèing of Considerable value for young visually impaired young people in Burkina F2SO. Investment pollcy The investment powers of the Trustees are unlimited, in that they may retain OT make investments at their complete discretion provided always that they estimate that the return likely lo be achieved 15 consistent with the risk assumed. In this regard, investment decisions are taken after having sought and considered appropriate advi￿. The present slrale9y of the Trustees is cenlied on securing sufficient sustainable income to fulfil their objective of continuing to support their work in Burkina Faso and also lo be able to respond lo ad hoc requests which are demonstrably viable and in line with BCF'S objectives. Reserves policy The Trustees have always recognised Iheir technical power lo apply virtually Ihe entire value of their investments lo or for the benefit of olher charitable organisalions. However. il is unlikely that more of this capital value will be available in the short term to be applied in this way. As an allernalive strategy, the Trustees are seeking to secure a sustainable income stream from their assels, which is sufficient lo fund their own intended future charitable aclivilies. Al the year-end date Ihe total reserves were £1,587,53812023-. £1,593,970} all of which are unreslricled reserves. £1,565,002 (2023.. £1,565.0021 is held in inveslrnenls. leaving £22,536 12023.. £28,968) in Burdens, Charitable Foundatlon Trustees Annual Report Year Ended 30 June 2024 more llquid reseNes. The Twslees Ire saibned Ih81 the level of reseNes and the plonned use oflhosè [eSe￿e5 is In keeplng with Ihe slated pollcy. end5 of £85.000 (2023.. £452,392) from BCFC. BCF made uranls lotalling 264,574 81) and the resutts for Ihe yeur show a deficil of £6rt32. However, In the next ffnand81 vethe&ds wlll be lower a5 the pald employee has rellred so the TTUStee5 belleve Ih15 level of gr8nt aking to be suslalnable in Iho medium lemi. Statement of Trustees, Re$pon$lbillile$ The TN51ees are responsible for prepgrtng tho Trustees Annual Reporl and the fin8ndal slalements in 8GCOfd8nce with applicable law antl United Kingdom A¢¢ountlng Standards {Unitgd Klngdom Generally A￿pIed Accounting Pradlce). The 18w applicable lo chaiitles In Ebvjland and W41es requlres tho TNsl8es lo prepare financi81 slalemenls for each finanGial year whlch oive a Inte and falr vlew of the slate of affairs of BGF and of the It1￿mIng resources ttnd 8pplicallon of resource5 of BCF forlhat perlod. In preparfng thes¢ financial slalemenls. Ihe Trustees are requI￿d to= seled sullable accounllng pollcles 8nd then apply them conslslenlly; observe the methods and princSpl¥s In Ihe CharKle$ Slalemenl of Recommended Pracllce {SORP): make Judgemenls 8nd esllm8tes that are reasonablè gnd pwdent: slale whelher appllcable accounllng Standards hav8 been followed, subleci lo any material departures di501osed and explaSnÈd In Ihe finan¢lal siAiemenls,' pJEpare Ihe fin8ncl81 st8temenls on the golng conGern basls unle55 51 Is InappropFiale lo presvme Ihal BCF wlll conllnue in operalion. The Tfuslee$ are responslble for keeplng proper accounting records th81 d15cIos8 With Teason8ble acoulaoy al any limo the flnanclal positlon of 8CF 8nd enable Ihem lo ensure Ihal Ihe financlal stalemenis comply with Ihe Charriles Act 2011 and lh& regulallons made putsuant lo Ih8t Act. The TnJ51ees are also responsible forsafegua￿inQ the assels of BCF and hence for18klng ￿asOnable sleps forlhe prevention and Oetectlon olfraud ond other Irregul8ri118s. In addl￿On, the trust deed requires Ihe Truslees to meel not less than once a year 8vMI lo keep mlnules of those meellngs. Sl ed on behalf oflhe Tmslees A D Burden TtU51ee Dale.. 27 J8nu8ry 2025 Independent Examiner's Report to the trustees of Burdens, Charitable Foundation I report on the accounts of the charity for the year ended 30 June 2024 which are sel out on pages 6 to 13. Respective responsibilities of trustees and examinor The trustees are Tesponsible for the piepatalion of the accounts. The trustees considei that an audit is not required for this year under section 144121 of the Charities Act 2011 {Ihe 2001 Act) and that an independent examination is needed. 11 is my responsibility lo.. examine the accounts under section 145 of the 2011 Act., lo follow procedures laid down in the general Directions given by the Charity Commission under section 145(5)Ibl of the 2011 Act., and lo stale whether parlicular mallers have come lo my attention. Basis ol independent examTn8r's report My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of Ihe accounting recoTds kept by the charity and a comparison of the accounts presented with those records. 11 also includes consideration of any unusual items or disclostjres in the accounts, and seeking explanations from you as Ifuslees conceTning any such mallers. The proceduTes undeilaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as lo whether Ihe accovnls present a 'lrue and fair view, and the report is limited to those mallers set oul in the next slalement. Independent Examlner's Statèment In connection with my examination, no matter has come lo my allention.. 111 which gives me Feasonable cause lo believe that in any material respect the requirements.. to keep accounting records in accordance with section 130 of the Charities Act 2011,. and to prepare accounts which accord with the accounting records and comply wilh the accounting requirements ol the 2011 Act have not been me*-, or {21 lo which, in my opinion. allention shoLJld be drawn in order lo enable a proper understanding of the accounts to be reached. Hf Helen Binns FCA Be8vBr and Struthors One Exprass 1 Georya Leigh Street Ancoats Manchester M4 5DL Date: 27th January 2025 Burdens. Charitable Foundation Statement of Financial Activities A5 at 30 June 2024 Total Total Unrestricted Unrestrlct6d Unrostrlcted Funds Funds Funds 2024 2023 Noto Income and endowment$ Incoming resources from generaling lunds.. Donations Investments other 17,223 65,000 17,223 65,000 9.228 452.392 13 Total Incom8 Expendlture Expenditure on raising funds: Expenditure on charitable activities Total expendlture Net lexpendlturo)Iln¢ome bèfore other re¢ognl$ed galns and 10s8os 394 954 Net {expendlturellln¢om¢ and net movement in funds Reconclliatlon of funds Total funds brought foNard 16,4321 {6,432) 394,954 1593 970 1593 970 1199 016 Total funds carried forward The Slalement of Financial Activities includes all gains and losses in the year and therefore a slalement of lolal recognised gains and losses has not been prepared. All of the above amounts relate to continuing activities. The notes on pag?8 8 to 13 form part of the8e financlal 8tatements. Burdens, Charitable Foundation Balance She8t As at 30 June 2024 2024 2023 Note Fixed assets Inveslmenls 10 1,566.002 1,565,002 Current assets Cash al bank 23,B27 33,861 Creditors: Amounts falling due withln one year 11 Nel current assets 22,536 28,98B Total assets lèss current Ilabllttlos 687 538 Net assets Funds ofthe Charity Unre51ricted Income lunds 12 Total Ch8iYty fuhds These financial slalements were approved and aulhorfsed forlssue by Ihe Boord of TfU51ees on 2Trb January 2025 and slgned on thelr bèhalf by.. A D Burden Truslee Thts notes oh page$ 8 to 13 lomb part olth¢$èflnAnclg1 stotemenls. Burdens, Charitable Foundation Notes to the Financlal Statemants As at 30 June 2024 Gen8ral Information The charity is a registered chafity in England and Wales and is unincorporated. The address of the principal office is clo Casllefield Partners Limited, 111 Piccadilly, Manchester, M12HY. Statem¢nt of Compliance These financial slalemenls have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recomn7ended Piaclice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 {Charilies SORP IFRS 10211 and the Char*lies Act 2011. Accountlng Pollcle8 Basis of Preparatlon The financial slalements have been prepared on the historic21 cost basis, as modified by the revaluation of certain financial assets and liabilities and Investment properties measured at fair value Ihiough income or expenditure. The financial slalements are prep8red in slertlng, which is the functional curiency of the entity. Golng Con¢trrn There are no material uncertainties about the charily's ability lo continue. Fund a¢countlng Any ReslriGled Ftjnds are income funds which can only be applied for charitable purposes specified by Ihe donor. The Unreslricled Fund 15 available for use at the discielion of the Trustees in the furtherance of the Charity's objects and funds may be designated for a specific purpose. ifdeemed appropriate. Incoming resources All incoming resources are included in the Slalement of Financial Activities when the Charity is enlilled lo the income, the Trustees are virtually certain that they will receive the iesources and the amount can be quantified wilh reasonable accuracy. The following specific policies are applied to particular categories of income. Donatlons Income is received by way of 9f8nls, donations and gifts and is recognised when Ihe Charity becomes unconditionally enlilled to it. Expenditure Expenditure is recognised on an accruals basis, as a liability is incurred. VAT is inGluded wilh the item of expense to which il relales, because il cannol be recovered. Grants are voluntary payments made to Gharilable inslilulions. They are accounted for when they have been approved by Ihg Trustees and any conditions atlaGhed by them have been satisfied. The Charity relies on ils links with UN-ABPAM and a volunteer Ipreviously an employeel, who being substantially resident in Burkina Faso, remains BCF'S represenlalive on the managèmenl commillee of La Renaissanc8 in Ouagadougou. Governance cosls are those costs associated with meeting constilulional and slalulory requiremenls and ir*clude Ihg independent examineffs fees and costs linked lo the strategic management of BCF. Burdens, Charitable Foundation Notes to the Financial Statemants As at 30 June 2024 Accountlng Pollci¢s {¢ontinued) Costs are allocated to categories on a basis which is intended to reflect the use of Ihe resource. Staff costs, including 51aff travel, can usually be allocated directly, but other costs are not direGIIy related lo any one aclivily. Support costs are those costs that, whilst necessary lo d81iver an aclivity. do not themselves produce or constitute the oulpul of the activity. Foreign currencies Monetary assets and liabilities denominated in foreign currencies are translated into sleiling al iales of ex¢hange ruling al the balance sheet dale. Transa¢lions in foreign currencies are translated inlo $lerling al the rale ruling on the date of the Iran$a¢lion. Exchange gains and losses are recognised in the SOFA. Taxatlon The Charity is exempt from lax on ils charitable aclivilies. Investments Investments are slated al Cost (note 101. Fixed Assets Tangible fixed assets are capitalised and staled al cost less depreciation. Depreciation is provided at rates calculated lo write off the cost of the assets on a slralght line basis over the expected useful life. Computer equipment is depreciated at 33% per annum. Debtors Other debtors are recognised at the selllemenl amount due after any trade dlscount offered. Cash at bank and In hand Cash al bank and in hand includes cash and any short lemi highly liquid investments with a short maturity of three months or less from the dale of acquisition or opening of the deposit or 51milar account. CrvditOTS Cfedilors are recognised where the charity has a present obligation Tesulling from a past event that will probably result in the transfer of fvnds to a third parly and the amount due to sellle the obligation can be measured or eslimaled reliably, Creditors ale normally recognised at their selllemenl amount after allowing for any liade discount due. Flnanclal Instrum8nt BCF only has financial assets and financial Ilabililies of any kind Ihal qualify as basic financial inslrumenls. Basic financial instruments are initially recognised al t¥ansaction value and subsequently measured al selllemenl value. Deflned Contrlbutlon plans Contributions lo defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the exlent that the prepayment will lead lo a reduction in fulure payments or a cash refund. Incomlng Resource8 Total Fund$ 2024 Total Funds 2023 Unrestricted Funds Donatlon8 Other donations Burdens, Charitable Foundation Notes to the Financial Statements As at 30 June 2024 Charltable A¢tlvltles Unrestrlcted Funds Total Fund8 2024 Total Funds 2023 AGlivilies in Africa (Note 5a) Stjpporl costs in the UK Inole 5b) Other grants Inole 5c} 68,730 3,402 68,730 3,402 63,881 2,920 BCF funds from ils UK bank the full salary cost ol ils representative in Bufkina Faso and these costs are included in staff costs (note sal. Money is paid into a bank account in Buikina Faso lo fund activities on the ground and the amounts expended from that account are shown in Note 5a. Africa Office costs. Any remaining balance is carried foward as parl of BCF'S cash balances in the Balance Sheet. 5a. Activltles In Afrlca Unrestrlcted 2024 2023 Staff Costs Africa office costs Grants payable 20,444 236 20,444 236 24,533 587 5b. Support Costs In the UK Unrestrlcted 2024 2023 Office Costs Accountancy Bank Charges 162 1,561 162 1,561 151 1,455 Sc. other Unr¢stricted 2024 2023 Grants payable Ind¢pendent Examlnatlon Fees Unrestrlcted Funds Total Funds 2024 Total Funds 2023 Fees payable to the independent examiner for.. Independent examination of the financial slalemenls. io- Burdens, Charitable Foundation Notes to the Financial Statements As at 30 June 2024 Trustees Remuneration and Expgnses The Trustees did not receive any iemuneralion and did not receive any Ye~imbursemenl for their travel costs12023.' £Nill. Net Incomlng Resources for the Year The net oulqoing resources of £6,432 {2023-. nel incoming £394,954) are slated after charging.. 2024 2023 Independent Ex8miner's Fee Independent Examiner- other setvices 1,260 1.200 Stsff Costs Total staff costs were as follows: 2024 2023 Wages and salaries Social security costs Pension cost 20,000 24.000 444 Partlculars of employees: The average number of employees during the year, calculated on the basis of full-lime equivalents, was as follows.. 2024 2023 Number of administrative staff No employee received remuneration of more Ihan £60,000 during the year12023'. £Nil). 10. Flxed Asset Inv6stm&nts Cost As at 1 July 2023 and 30 June 2024 Carrylng amount As at 1 July 2023 and 30 June 2024 Hlstorlcal cost As at 1 July 2023 and 30 June 2024 BCF Capital Limited (1000A of the share capilall Burdens, Charitable Foundation Notss to the Financial Statements As at 30 June 2024 BCF owns 100% of the share capital of Its Subsidiary undertaking, BCFC, a company incorporaled in the United Kingdom which is an investment company. The shares in this company are held by A D Burden and E G Jenkins (both trusle8s}, in trust for BCF. AI 30 June 2024 the aggregate share capital and reserves of this Gompany lotalled £2,043,340 12023.. £2,118,553) and the loss for the year totalled £10.21212023.. loss £91,702}. As al the year end the portfolio was showing an uniealised gain of £7,522. 11. Creditors: Amounts falllng due wlthln one year 2024 2023 Trade creditors Other creditors Accruals 30 go 431 12. Unrestrlcted Income Funds General Fund 2024 General Fund 2023 B81ance at 1 July Income Expenditure 1,593.970 82,223 1,199,016 461,755 Balance al 30 June 13. Analy818 of Net Assets Between Funds Unrestrlcted Funds Total$ Investments Cash at Bank Creditors 1,565,002 23.827 1,565,002 23.827 14. Related Party Tran8actlons Me5srs EG Jenkins and AD Burden, Ifuslees of BCF, are directors of BCFC. There were no related patty transactions during the year. 12 Burdens, Charitable Foundation Notes to the Financial Statements As at 30 June 2024 15. Grants Pald All grants were made to inslitijlions and none lo individuals. A signifiGanl proportion of the total grant expenditure went lo overseas organisalions or to organisations working overseas. The following summary endeavors lo illustr81e the scope and emphasis of BCF'S gr8nl-making activities in this particular ye8r. In addition lo the grants shown below, BCF funded the costs of its represenl81ive in Ouagadougou as shown in Note 5a. Only grants of £5,000 and over are shown separately in the summary. 2024 Total 2023 Total Overseas Grants - Education La Renaissance- BF UN-ABPAM Heartbeat Africa The Charity Service Other 22,703 15,088 22,703 15,088 10,000 5,324 11,459 15,759 10,900 10,259 12,102 Total Grants 13-