Burdens, Charitable Foundation Trustees, Report and Financial Statements For The Year Ended 30 June 2025 Charity Number 273535 Burdens, Charitable Foundation Trustees Report and Financial Statements Year Ended 30 June 2025 Contents Pages Board of Trustees and Profess￿nal advise Trusteès Annua5 Report 2104 Independent Examinerfs Report Statement of Financial AGtivit Balance Sheet Note$ lo the Financial Statements 8t013 Burdens, Charitable Foundation Board of Trustee8 and Profe33ional Advisers Registered Charity Name Burdens, Charitable Foundation Charity Number 273535 Principal Offic• Casll•fi•ld Partners Limitèd 111 PiGGadilly Manchester M12HY Trustees Anthony David Burden, MA. Phu Arthur David Burden Bsc MD FRCP Jeremy Paul Burden Timothy James Burden BS¢ Susan Eva Gottlieb Cohèn ArA Cdmund George Jenkin3 LLB Hilary Margaret Perkins MCSP SRP Sally Anne Schofield Dip.COT SROT Indepgndent Examiner John Hegney FCCA JHHP Limile¢S 3 Laureates C..k)s6 Great liai i. Srtiniiluhcim B43 CAY Bankers Ballcc.r., Mtio 4EP Solicitors Addleshaw G)ddard LLP 1 Sl Pelerfs Square Manchèsle¥ M2 3DE Inv•stmant advise Castlefi8kl Investmènt Partners LLP 111 Pietsgdilly Manchester M12HY Burdens, Charitable Foundation Triistoos Annual R@port Year Ended 30 June 2025 Reference and Administrative D¥tails Refe￿nce and administrative details are shown in the schedule of Board of Trustees and professional advisers on the p￿CedIng page of this report. Strueturo, GovemanGc and Management Burdens, Charitable Foundalion18CFI is consliluled as a charitable Irusl, which was fomied on 6 April 1977 by Mr Wilfred Thomas Burden and Mrs Annie Elizabeth Mildred Burden, both of whom were Trustees uniii ihelr deaths in IY15J and 1992 respectively. The present Trustees endeavour lo qovern and direct the affairs of BCF in a manner which they believe accords with the wishes and inlenls of the settlors and within the idealisms that they typified. BCF is governed by a deed of settlement dated 6 April 1977. Thc stretegic management of BCF 15 Corr￿￿ out by Ilie Board ofTruil¥Eb willi ¥FJPIUPiisil¢ piol¢&%ivri¥l assistance. Day-t￿aY running of BCF was carried out during the year ended 30 June 2025 by Sal Schofield wtih Support from other trustees, as requirad. The Truste8s meet on averaqe bi-monthly. ProspectlV8 new Trustees attend one or more meetings before being invited forrnally to become a Trustee. The Trustees, backgrounds as ragards gxperience. skill, age and location are diverse. BC.F nwn% 1 noo/o of the subsidiary company, Bftr￿ Catsital Limitgd IBCFCI, whieh holds investments and donat¢a the company's profits to Dcf via Gift aiidlrJr Trays dividends lu BCF. BCF wnlinues to work with Associations Buthinabe pour la Promotion (ieib Aveu￿leS el Malvoyanls IUN-ABPAMI - Burkina Faso's equivalent of the National F￿eratiOn of the Blind iii the UK. Obj•¢tives and AcTivities BCF'S main activity is the making of day-to4ay payments lo support charitable organisations out of the income of the trust fund,- there are no fomial r$slrictions on the charitable activrties that may be siipportg.d hijt thp_ TriJ%tg.As' main adwiliÉss currèntly @mbrace thè prevention and religf of acute povcty. 8ub8tantially through the medium of education and heallhGare and most espeiidlly iii countries such as those of sub-saharan Africa. In 2004 funding from BCF financed the original building and establishment of a substantial primary school, La Renaissance, in Ouagadougou {Ihe capital ¢ty of Burkina Fasol, which is now owned and govemed by a local foundation sel up for the purpose. La Renaissance offers education to unoerpnvileged and disabled children and BCF continues lo support the edueAtinn nf visually disabled and underprivileged students attending La Renai$5ance. Pupils from La Renaissance are able lo continue their edu¢alion beyond primary ￿Ve1 al the Lycée Inclusif Nongtaaba. which is under the auspices of UN-ABPAM. BCF pays the fees for such visually impaiied students. Tli¥ Tiubl¢¢s wi)tiiiu¢ lo ke¥p uiidtri clGtive Gon5ideralion the besi means avallabLe io them whereby BCF'S still comparatively modest income ¢an most effectively impact on alleviating some of the condrtions ofpoverty which ¢ontinueto be ex￿$s1Ve1Y prevalent in Iheworld at large and in sub-saharan AfrKa most particularfy. Achievements and Performance In addition to its support for La Renaissan¢e,BCF continued ils financial support for Lycée Inclus Nonglaaba by funding vtsuolly impaired sludeiils. BCF again made grants lo other charilias whosa aims ara in line with BCF'S and which are of a sizo which allows a grant to have maximum impact. BCF gave a grant lo the Teshie Foundation which operates in Ghana and seeks lo alleviate poverty with a particular emphasis on hp.alth and regeuing traffiekèd girfs and to REAP IRural Extension with Africa's Poorl which work? with rural families, helping them to help themselves instead ol relying on aid. BCF wntinues lo support Repere. which supports street children in Ouagadougou. The Trustees again made a grant lo The Charity Service Burdens, Charitable Foundation Trustees Annual Report Year Ended 30 June 2025 which administers the Castlefield Charitable Fund, a fund established by the ethical investment company in which BCF holds a significant slake. In the year under review the focus of the Fund's activity was supporting homeless people in Manchester. In the meantime, the Trustees continue lo engage wlh Iheif investment advisers with a view lo prole¢ling BCF'S long term capital in a sustainable way. The subsidiary cornpany, BCFC, has committed lo supporting BCF in its charitable endeavours and has enough capital lo do so. In the period it has paid dividends lo BCF. The main grant-making 8ctivi(ie$ a￿ set out in the Statement of Financial Affairs on page 6 and in notes 5 and 15. Public Benefit Disclosure The Trustees confimi they have complied with their duty lo have due regard to the guidance on public benefit, published by the Charity Commission. in oxercising their p¢)w&rs and duties. The BCF'S charitable purpose is enshrined in its objects and the strategy pursued by the Truslees continues lo support 8CF's aims and objectives. Plans for Future Periods BCF'S focus remains primari￿. upr.:I l)fam4111?¢J dl)d enaDling the education of blind and visually impaired young people in BLiI&-.jfj", ': ￿'rOl.54..'*g tinancial support for La Renaissance School. The Lycee has requested fiJnfLtr fr.f-' :,- ul:.*iis will only be considered if other funding partners come forward ano ', -,[Jltc'. ¥rian8gement in place. It will continue lo work in close co-operation with li1￿.,.￿￿￿'￿.￿. I t.-"o ltr.c 04-going co-operation be￿een BCF and the TicTac Foundation in BelgiJJni 1S fjPlli< '.4 jiirthÈring rts aims. BCF will continue lo support Repere in the coming year and Is tii*t malor ILIb￿e1- ror.his operation. The Trustees acknowledge that the decision-yiaking process for new grants has been slow during the year bul the trustees have considered numerous appeals and a more concrete plan for grant making in 2025-28 was agreed at the Annual Meeting in November 202S. Investment pollcy The investment powers of the Trustees are unlimited, in that they may retain or make investments al their complete discretion provided a￿ayS that they estimate Ihal the return likely lo be achieved is nsistent with the n5k assumed. In this regard, investment decisw)ns are taken after having sought and considered appropriate advice. The present 8trat•gy of the Trustees is eÈntred on securing s(Jffici8nt sustainablo incom& to fulfil their objectives both in lemis of on-going commitments and supporting ad hoc requestS'. Resep48s policy The Trustees have a￿ayS recognised their technical power to apply virtually the entire value of their InV￿tmentS lo or for the benefit of other charitable organisalions. However, it is unlikely that more ol this capital value will be available in the short term to be applied in this way. As an alternative strategy, the Trustees are seeking lo secure a sustainable income stream from their assets, which is sufficient lo fund their Dwn intènded future charitable aclivilie5. Al the year*nd dale the lolal reserves were £1,595.09212024.. £1,587,538) all of which are unrestricted resetves. £1,565.00212024". £1,565.0021 is held in investments, leaving £30,090 12024.. £22.5361 in more liquid reserves. The Trustees are satisfied that the level ol reserves and the planned use of those reserves is in keeping with the staled policy. Burdens, Charitable Foundation Trustees Annual Report Year Ended 30 June 2025 Financial rèvlèw BCF received dividends of £50,000 12024.. £65,000) from BCFC. BCF made grants totalling £55.025 12024". £64,574) and the resu￿$ for the year show a surplus of £7,554. statement of Trustees. Responsibilities The Trustees are responsible for preparing the Trustees Annual Report and the financial st*èments in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Acceptgtl Ar.r.oiJntino Practice). The law applicable lo chanlie5 in England and Wales requires the Trustees to prepare financial slalements foi each financial year which give a true and fair view of the slate of affairs of BCF and of the incoming resources and application of resources of BCF for that period. In preparing these financial 5taiement$, the Trustees are required lo.. select suitable accounting pol￿1*$ and then app￿ them consislenlty.. obgervg tho mothods and principles in the Charities Statement of R¢commended Practice ISORPI, make judgements and estimates ttyal are Ip*t￿0￿.abTre and prudent; slate whether applieable acr£Junling stAr5,I:Irib" hxvp. hpg_n followed. gubjeet to any material departures disclos8d and explained in the ￿.¥￿Bric.1,9l ¥tslements', prepare the financial stslements on the going conc&m basis unless it is inappropriate to presume that BCF will continue in operation. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy al any lime the financial position of BCF and enablg them to ensure that the financial stslements comply with the Charf(ies Act 2011 and the regulations made pursuant to that Act. The Trustees are also responsible for safeguarding the assets of BCF and hencÈ ftsr taking reasonable stèps for the prevention and detection of fraud and olhor irregularities. In addition, the trust deed requi￿5 the Trustees to meet not less than once a year and lo keep minutes of thosè mèètings. Signed on behalf of the Trustees A D Burden Trustee Dale." 9th April 2026 Burdens, Charitable Foundation Statornont of Financial Activities As at 30 June 2025 Totsl Total Unro*trietgd Unrggtricted Unrestricted Funds Funds Funds 2025 2024 Note In¢om¢ and end*>wm¢nts Incoming resources trom generating funds.. Donatirtn8 Investments 16.67S 16.675 17,223 Total incomè Expendlture Expendrture on raising funds.. EXpend((u￿ on charitable activf(ies Total expendituro Net incomel (expenditure) b¢for¢ othèr r¢¢ognÈ6ed goins and lossgs Net Incomel {expendlturel and net movement In funds Reconciliation of fvnds Total funds brought forward 16,4321 158753 1587 538 1 593 970 Total funds carried forward The Stalgmgnl of Financial Activitios includes all gains and losaes in the yegr and Ihefefor¢ a •tatement of total recggnibed yslillb ¢¥ li iigl been piepared. All the above amounts relate lo continuing actwities. The notes on pao¢8 8 to 13 fomi part of th08• flnanclal statements. Burdons, Charitable Foundation Balance Sheet As at 30 June 2025 2025 2024 Note Fixed assets Investments 10 1.565.002 1,565,002 Current assets Cash al bank 39,410 23,827 Creditors.. Amounts falling due withln one year 11 Net current assets 30.090 22,536 Totsl assets less currènt Ilabllities 1 $95 092 1 587 538 N¢t assets Funds of the Charity Unrestricted income funds 12 1587 538 Totsl Charlty funds The Iruslees acknowledge thelr responsibili(ies for comptying with the requirements of the Charities Ad 2011 with respect lo the p￿paratIon of accounts. These financial slalements were approved and aulhorised for issue by the Board of Trustees on 9th April 2026 and signed on their behalf by.. A D Burden Trustee Tho nots8 on pages 8 to 13 fomi part olthe8e financlal statements. Burdens, Charitable Foundation Notes to the Financial Statements As at 30 June 2025 General Information The charity is a registered charity in England and Wales and is unincorporated. The address of the principal OfFI￿ is clo Castlefield Partners Limited. 111 Piccodilly, Manchester, M12HY. Statcmcnt of Complianco These financial statements have been prepared in complianGe with FRS 102, The Financial Reporting Standard applicable in the UK and the Republic of Ireland., the Statement of Recommended Practi￿ applicable to charities preparing their accounts in accordance wi(h the Financial Reporting Standard applicable in the UK and Republlc of Irelan(J IFRS 1021 Icliarilies SORP {FRS 10211 and the Charities Act 2011. A¢¢ountlng Policles BJ¥i3 of Pr•paratlon The financial statements have been piepared on the historical cost basis. The financial statements are preparett in Sterting, which is the functional currency of the entty. Going Concern There are no material un¢¢rtaiiitk*s db¢)ut itiC- Lliarty's ability to continue. Fund aeeounting Any Restricted Fund8 are inGom¢ fvndj %vh.',i-n or,ty beapplied for Gharilable purpos¢3 JpKifi¢d by the donor. The Unreslrictod fund is availab￿ for use at the discretion of the TrLJStees in the furtherance ofthe Charity's objects and funds fnay be designated for a specific purpose. if do&med appropriate. Incomlng resources All incoming reSoUr￿S are included in the Statement of Financial AciNilies when the Charty is enlilled to the income, the Trustees are virtually certain that they will recèive the resources. and the amount can b@ quantifiéd with reasongble aceiiraey. The following specific polieies 2r• appligd to partiGular categories of inwme. Donatlons Income is received by way of grants. donations and gift5 and is recognised when the Charity be¢omes unconditionally enlilled lo It. Expendlturo Expenditure is recognised on an accruals basis, as a liability is ineurred. VAT is included with the item of exponsg lo which it rèlata$, b￿aUs￿ il cannot be recov¢red. Grants are voluntary payments made to charitable inslilulions. They are accounted for when they have been approved by the Trustees and any conditions attached by them have been satisfied. The Charity relies on ils links with UN-ARPAM and a volLinteér (prèviously an gmployeel, who bein9 substantially resident in Burkina Faso. remains BCF'S representative on the management committee of La Renaissance in Ouagadougou. Covernan¢e co318 are those costs a3SOCiated with meetin9 GonslilutlOll¢il <*iid Statutory requirements and include ihe in¢Jependenl examiner's fees and costs linked lo the strategic management of BCF. Arcoitrnting Policies Icontinuedl Costs are allo¢aled to categories on a basis which is intended lo reflect the use of the resource. Burdens, Charitable Foundation Notes to the Financial Statements As at 30 June 2025 Staff costs, including staff travel, can usually be allocated directly. but othèr costs are not directly related lo any one activity. Support Costs are those costs that, whilst necessary to deliver an activity, do not themselves produce or conslilLJle the output of the aclivty. Foreign currencies Monetary assets and liabilities denominated In foreign currencies are translated into sterling at rates of exchange Nling al the balance sheet d*e. Transactions in foreign currencies are translated into sterling al the rate ruling on the dale of the transaction. Exchange gains and losses are re¢ognised in the SOFA. Taxatlon The Charity is exempl from tsx on its charitable 8Ctivilie$. Investments Investmen15 are staled at Cost (note 101. Fixed Assets Tangible fixed assets 8re capVStrict&d 2025 2024 Grants payable Indopgnd•nt Examinatlon Fees UnTrstrictsd Funds Total Funds 2025 Total Funds 2024 F898 payablè lo the indep•ndènt examiner for.. Independent examination of thc financial statements. Trustees Remuneratlon and Expenses The Tru?tees did not Icccivc any rcmuncralion and did not receive any re-imbursomenl for thèir Iravol costs {2024.' £Nill. Net Incoming Resources for thg Year The nel incoming resources of £7,5S412024'. net outgoing £6,432) are slated after charging.. io Burdens, Charitable Foundation Notes to the Financial Statements As at 30 June 2025 2025 2024 Ind&pendenl Examiner's Fee Indcpcndent Examiner- other #¢ryirKa 1,320 1,260 Staff Costs Total staff costs were as follows: 2025 2024 Wages ancj salanes Social security costs Pension c03t 20,000 444 Particulars of èmployee•: The average number of employe0$ duryns the year, calculated on the basis of ftjll-lime equivalents, was as follows.. 2025 2024 Number of adminlstrative staff No employee r¢ceNed remuncralion of mor¢ than £60,000 during the year12024". £Nill. 10. Fixed Asset Invgstments Cost A5 at 1 July 2024 and 30 June 2025 Carrying amount As al 1 July 2024 and 30 June 2025 Historical cost As at 1 July 2024 and 30 June 2025 BCF Capital Limi(ed {1 OOYO of the share capital) BCF owns 100% ofthe share capital of its subsidiary undertaking, BCFC, a company incorporated in the United Kingdom which is an investmènt company. The shares in this company are held by A D Burden and E G J¥iikiiib Ibolli Iru&lee61, in Iru&l loi BCF. AI 30 June 2025 the aggregate share capital and reserves ol this company tolalled £1,933,820 12024. £2,043,340) and the loss for the ye81 lotalled £59.51912024.105s £10,212). As al the year end the investment portfolio was showing an unroalised gain of £23,348 on a cost of £500,00012024'. £500.0001. Burdens, Charitable Foundation Notes to the Financial Statements As at 30 June 2025 11. Creditors.. Amounts falling due within one year 2025 2024 Trade credf(ors A￿rualS for grants payable A￿rualS 30 8,000 12. Unrestrfcted Income Funds Gongral Fund 2025 General Fund 2024 Balance at 1 Juty 2024 Income Expenditure 1,587,538 66,675 1,593,970 82.223 Balance al 30 June 2025 13. Analysis of Net A5$0ts Bètwèen Funds Unrestricted Funds Totals Invostmonls Cash al Bank Credttors 1,665,002 39,410 1,585,002 39,410 14. Related Party Transactlons Messrs EG Jenkins and AD Burden. Iruslees of 8CF, are directors of BCFC. There were no ielaled party tionsaGtions during the year. 15. Grants Pald All grants made were lo inslilulions. A significant proportion of the lolal grant expenditure went to overseas organisalions or lo organisalions working overseas. The following summary endeavors to illuslrale the scope and emphasis of BCF'S granl-making activities in this particular year. The grant to REAP was paid after the year end due lo administrative difficulties bul was agreed by the Trusl¢es in May 2025 and is included in Note 11. Onty grants or £5,000 ond ovei are shown separately in the summary. 12- Burdens, Charitable Foundation Notes to the Financial Statements As at 30 June 2025 202S Total 2024 Total Ovèrseas Grdnts- Education La RenaissanrR- BF UN-A8PAM Heartbeat Africa The Charity Serwce Repere REAP Other 21,512 21.512 22.703 15,088 10.000 5,324 11,459 10,000 10.098 8,000 5.415 10,098 3.415 Totsl Grdnts 13- Independent Examiner's Report to the trustees of Burdens, Charitable Foundation I report on the accounts of the charity lor the year ended 30 June 2025. Respective responsibilities of trustees and examiner Tli¥ IIubteE5 ale re5POn5ible for the preparatlon of Ihe accounis. The Irusiees consi(Jer that an auuil Is nol required for this year under section 144121 of the Charities Act 2011 Ilhe 2011 Act) and that an independent examination is needed. l am qualified lo undertake thè e¥AminAtinn by being a qualified membar of the Ass(oigtion of ehartpred Certiff￿d Accountants. 11 is my responsibility to.. examlne the accounis unijer section 145 of the 2011 Aol,. lo follow procedures laid down in the generyal Directions given by the Charity Commission under section 14515llbl of the 2011 Act.. and to stale whether particular matters have come lo my attention. Basi$ of independ•nt examinerfs r•port My examination was ¢2rried out in acwrdance with the general Directions gNen by the Charty Commi88ion. An examination include5 Il r¢vi¢w ol Ilie aGGouiiliiiy ieLuidb k¢pt by Ihe Gharty and a comparison of the accounts presented ivrtri Ihuse r¢￿1￿3. 11 also includes consideration of any unusual f(ems or disclosures in the accourilf. '.Id seekinfj pxplanations from you as trustees concèming any su¢h matter5. The pro￿dur&S dllO¥,~ok&41 ¢.0 n,-Jl rD¥'irl6 all the evidence that would be required in an audit and consequenuy no opinion is Jj¥ieD as rtS K%'i-:A'ib,o< tho accounts present a'lrue and fair view, and the report is limitÉd to thr)¢p %ftl Dill in +li# otatement. Independent Examiner's Statemor,I The charity'ts gross income cx¢ccd¢d £250,000 and l am qualrfied to undertake th¢ exaiiiiri¢ation by being a qualified member of the Assoclatlon of Ghanered Certified Accountants. I have completèd my examination. I confirm that no material matters have come lo my attention in ¢onnection with the examination which gives me cause lo believe that in, any material respect.. the accounting recordq wgrp nt)t kept in xr.rmrdAnce with soction 130 01 the Charities Act., or the accounts did not accord with the accounting re¢ords,' or the accounls did not comply wf(h the applicable requirements con¢eFning the fomi and Conlenl of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the aGGountS giv¢ a'true aiid fail, vi¥w which is not a maller considere(J as part of an In￿epen￿ent examination. I have no concerns and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order lo enable a proper understAnding nf thé accountg to be reached. John Hegney JHHP Limited 3 Laureaies iiose Great Barr, 8irmingham 843 6AY CCA Date: 9th April 2026