CHARLES IL BURRELL'S CHARrrY TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
CHARLES R BURIIELLIS CHARrrY TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 P4ge Stst¢mtnt ofFiDau¢I AGtiviti¢8 B81on¢¢ Sh Sclthleof Investtncnts and Inwm¢ Notrs to the FInlai Statements 9- 13
CHARLES R. BURRELL'S CHARITY TRUST TRUSTEE'S ANNUAL REPORT FOR TIIE YEAR ENDED 5 APRIL 2025 The TnTStee is ple4y&l to present its rewrt together with the financi stemcnts of the charity for the year ended 5 April 2025. The financia] Statements hav¢ been prepered in a¢¢ordonce with the acco118 poli¢ie$ set out in notes to the fJn6n¢ia] statements OJLd comply with the ChIty'S goven]ing documenL the Charitses Act 2011 and Accounting and R¢kK>rting by Charitie5.' Statement of Recotnmended Prattice applicable to charities preparing their accounts in accordance with thc Fin3Cial R¢portin8 Standard applicable in the UK and R4)ubli¢ of Jr¢lomd publishcd in Octobtr 2019. Objeetives And get1vi¢S Th¢ Trustee Tnay pay or apply the unrestricted capital and income of the Charity to or for such charitable instiDJtions or purp08¢5 as the TrL]$tce in its absolut¢ dis¢r¢tion thinks fiL The Trustee caTrie8 Out these obje¢tiv&8 by rewlarly con$idering appeat8 from othcr Gharitie5 and making liCY and fimding deci$ion5. Public Benefit The Truse confirnis that ii has complied with the duty in Section 17 of the Charities Act 2011 and has referred to th¢ guidance ¢ontain¢d in the Charity CoTllJlli8sion's 8eneTal guidance on publi¢ b¢n¢fit when rcvicwing Ihc Charitys aims and objectives and in planning future attivitics j setting the donations rolicy for the yw. The E¢n¢fit that arises ts the provision of funding to Organisations th8t demonstrate charitable purpose. Athievemethts and perfornbnCE During the year the Trustee mad¢ grnts totaJlin8 £56,778 [2024.. £45 J821 in fillther8nce of its objtiveS and continues to make graDts ty ¢haritsble org8nisatitsn$ both on a one•off and recung basis. The larger grarits awarded durin8 th¢ year owe stated in the notes to the fJnan¢iai SW¢tnents. Th¢ Tnjstee is pleased with the PTO8re$8 m•k in tk fLnaThcial year ended 5 April 2025 aDd looks foword to exp8nding its work with many other ch8riti¢s in the yegrs to C4)me. Flno¢kn1 revitiv The Trustee received £36.734 in investment i]rn¢ in the current year12024: £37,504] a[ the TnLS¢ has a¢hieved ils intetition of $p¢nding thc income on Ghgritabl¢ activities. Nd outgoing resources for the yw were £38,92312024'. ootgoin8 £25,170]. In addiiion the Trusi reaiised a gain on invesknenLS of £4,773 12024.. gain £3.1081 and tnade u[e8]ised loss of £100.10712024'. gain £157,633]. Thc net outgoÈng mov&nent o fvnds was £l34,25712024'. incoming £135,S711. Investmemt po15¢y The Trust¢¢ has instructed the Investment Manager that the porrfolio is be inve5tcil to produce a suitable mixtttr¢ of income in order that th¢ Icvel of ryjls may be aintai]l And capital growth to se¢ure the future of the Charity over the Coming years. The Trustee is confideni thatthe futurc income 5trcaIn 15 secure. The invesknjent FK>Iicy 15 nnitored by regular inv¢stment T¢POrts and meetittgs with thc Invesknent Manager. A breakdown of the invesbnents held during the fLriancLal y¢arended 5 April 2025 can be s¢¢rt on page Risk MAnagemet Thc major risks to which the Charity is eXSed hav¢ E¢en identified aThJ step$ tsken mitigate those risks. Th¢ main Tisk to the Charity concerns the irtvestmcnts held. The Trustee ha5 mitigated this tisk by engaging Cazenov¢ c9p1t to rnallage the investments and monitor th¢ rtfOliO and fin8m¢iAI risks to the Chwity. The Trusttt rtgularly reviews th¢ valudion of investhients 8d the income Strcam generated. The Trustec ha8 Satisfi itself that th¢ trust 18 a going cthJc¢m and has adequate res01¢S to c<xJtinue in ortrntional existcnGe ftsr th¢ foreseeabl¢ firture. The charitable acliviries are funded by the investment POTthlio and although Covid-19 did have a negative impact on thts. the ponfolto hgs recovered wtth sufficient value to support cxmtinucd grdnt makin8.
CHARLES li BURRELL'S CHARITY TRUST TRUSTEE'S ANNUAL REPORT FOR THE YEAR ENDED S APRIL 2025 Reserves policy It is the intention of the Trustee to sustain the w)r¢stricted funds at a level whi¢h will pr(pvide sufficient fiumts for the level of ts paid andto covet the Charity's managment and adminlsrration costs. At th¢ Balance Shcet date tht unrestrirted rerVeS amounted to £2,472,368. Futllre Pln$ The TTU5tee does noi ¢nvisage any material chartge io the opcrdtion of the Charity irt the long-term Ind the invcstments will continu¢ to bc on a $imilw basis &8 they ar¢ Th)w. Notwithstanding thi& the Tte¢ remain4 flexible in terms of tl type of organisations 1¢ supports. Strucknrfy governance gnd thgtsayment The Trust ha5 ¢haritable stabjs and wgs set up by Charles R Bwr¢ll by Deed datrd 27 May 1987. The maTwent of the Charity is v&8ted in the Trustts and they actively review the p¢reeived major risks which the Charity faces and the Trtee 15 5atl5fl that the sy$t¢ms aft in place w mitigatr thos¢ risks. The Tru5tce has re1V¢d appropriate briefin8 on its resp)nsibilities under the law r¢laiing ty ¢h*ities and it5 duty to etL8UTe that its charitable activities are for the public ben¢fiL The appointmeni of n¢w trustees is Vest in the Settlor during their life. The seleaion of fvture trteeS will have regard to the skills, knowledge and experience needed for the eff¢¢¢ive administtaiion of the Charity. Induction a[ training for IN5tc¢s is provided where relevant. R¢f¢reuee Iud 4dmiDistr&tiv¢ Srtfonnation Aregistered charity, regi3tered with the Charity Cottlmissioners for England artd w¢5 a5 number 297061. Principal Officc.. 4th FlrM)r. 7 Swallow Str¢et London WIB4DE The Trustce is Cowdray Trust Limit¢ The DiTtorS of Cowdray Ttwst Limited are.. The Hon H M T Gibson (ChaitinaJJl Th¢ VL%WUllt Cowthay {Re8ign¢d 12 March 2025) Th¢ Hon C A Pewson The Hon P N Gibson The Hon B C Gurdon MrJRESmith Mr R C PTroughton {Resi8Ded 13 June 2024) Ms S J Burr¢ll Mr S JAtkinson Mrs F ARi¢e MrMPHArris Mr K Wri8hi Mrs CABullough (Appointed 30August 2024) Th¢ Hon PJ D Pearson {AppJinted 14 May 2025) Solicitors: Cw&CoLLP 33 Queen Anne Street Lnndon WIG 9HY
CHARLES IL BURRELL'S CHAIIITYTRUST TRUSTEE'S ANNUAL REPORT FOR TIIE YEAR ENDED 5 APRiL 2025 lnthpttentEMminer'. Hani¢¢ S¢Tgc4nt Shaw Giikn (Audit) Limikd 25 St ThomAS Strcct WiJtht¢r S023 9HJ Royal Bank of Swtland 119. 121 Victorffta Street Lon(bn SWIE 6RA Bker.. SchtY)der & Co I IATrn&)n W411 Pl London EC2Y SAU Cazenove Capitsl I knndon Wajl Plac¢ Loffttknl BC2Y SAU
CHARLES IL BURRELL'S CHARITY TRUST TRUSTEE'S ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2025 ststement of Trustee's R¢spon8lbilities The TnIs is resN)nsible for wepariijg the Tnjstee's Rert and the financia] ststements in accordance with appli¢abl¢ law and re8ulatioAs. The law applic2bl¢ to Chlties in Engjartd 0d Wales requires th¢ trUCe to prepare fJ]]anEial Statements for each fjnancial yeor in accordance with United Kin8dom Generally A¢¢eptEd Accounting Pmctice (United Kingdom Accounting Standards and applicable gulatIons). Under that law the tn]stee must not approve the fmart¢ia] $tatetn¢nts unless il is $8tisfi¢d th&t they give a trne and fair view of the state of affairs ofthe chtirity and of th¢ in¢o]ning resources and 8pplirAtion of resources of the charity forthat period. In preparing thes¢ finsll]ciai statema)ts the trustee is rquired to.. - select suitable accounting policies and then apply them consistenuy. - obs¢rve the methods glld principles in the Charititt SORP (FRS 102),. - make judgements and accounting estimates thar are r¢a50nable and prUdlt., - stat¢ whether applicable a¢wunting st8nd8rds have been followed. subjw¢ to SJLY material deprn di]0$¢d and explained in thr financial statements,. 8nd - epare the finan¢ial statements ort the going coniwTh ba8is un]ess it is iThappropriak to presume the chlty will continue in bu51ness. The Trusttt is responsible for keeping ad4uatc accountin8 rordS which are sufficient to show and explain the charitys Iransactions and dis¢los¢ with Monable a¢¢uracy at Y time ihe fintncial position of the charity Bnd cnable them to ensure that the financial staternellts COD)ply with the Charities A¢t 2011. the Clwiiies (Ac¢ounts ond Reports) Reglll&tions 2008 and the pn)visions of th¢ TrLLSt Deed. It is aJ50 re5pon8ible for safcguarding the ass¢ts of the chlty andhence for raking T¢a50nable steps for thc pyevention a[ d¢tr¢tiOTt offraud 8nd oth¢r igularIti8. Approv¢d by the Trustet on 3010112026 signed on its bchplf by.. CowdrnyTru5t Limite41 Dlr•ttor
CHARLES R BURRELL'S CHARITY TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2025 I report w th¢ ¢lwity tnL8tee on my ¢xdmination of the fjnanciai $tstunents of th¢ charÉty for the year ended 5 ApNI 2025 which are s¢t outon pages 6-13. Responslbill¢k$ #nd bA$is of rnPDrt As the ehwitys trustee you are resrA)n$ible for the preparatioTh of thc fllwicia] statrmcnts in accordance with the requiremet)ts of the Chwities Act 20111'th¢A¢t). I retKbrt in of my examination of the ChIty'S fltwicial stat¢m¢nts ¢aTricd out under section 145 of theAct and in ¢oryifhg out my examination I hav¢ followed all the applible dir¢¢tions given by the Charity Commission under se¢tion 145{5)Ib) of the IttdÈpeDdeDt examiner s ststmetht I have completed my ¢atninat1o I confirni ihat no lljaterial matters have come to my attention in conncction with th¢ examination ving me cause to believe that in any material respect: accounting record$ were not kept in resp¢¢t of the charity required by settion 130 of th¢A¢ or the financi8] StMentS (kn notaccord with those Teeord5' or the financial statemet do not comply with the applicable requircments cOtM]ng thc fortn and fL>ntent of financial statements $d out in ihe Cbariti¢s {A¢¢ounts and R¢port8) Regulations 2008 other than any requirement that the finth¢ia] ements give a and fair view, which is not a mattw Considered as part of an independent ¢xaminaiion. I havc no concerns and have Come across no other matters in connection with th¢ ¢xÉminatioo to which attention should be dr&wn in this rep)rt irt order to enablc a proper understandingof the fancial statcJntllt5 to be reached. Harriet Scrge4nt Shaw Gibbs (Audit} Limite 25 St Thomas Street Winchester HampshiTe S023 9HJ Dwe..
CHARLES IL BUIUiELL'S CHARrrY TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2025 2025 2025 2024 Prioryt•r totsl funds Nots fund$ fuuds lotome from: Investments 36,734 36,734 37.504 Totsl 36.734 36.734 37,504 Expenditsn on: Raising funds Charitsbl¢ activities 925 74,732 923 74,732 61.767 Totsl 75,657 75.657 62,674 Net iAtompJ{¢xpenditUTt) {38.923) 138.923) (25,170) Other r¢eoiDi%d galDsIOoss¢sl: Gain(lo$s¢s} on invcstment assets (95,334) (95,3341 160,741 Net movement in funds {134257) (134,25 135,571 Re¢ontili(I of fllxdx: Totsl fvnds brought forward 15 2.606.6fj5 2.606.625 1471,054 Total hnd5 cArrled forwrd 2,472,368 2,J17?.368 2,606,625
CHAIILES IL BURRELL'S CHARITY TRUST BALANCE SHEET AS AT 5 APRIL 2025 No¢¢ 2025 Totsl 2024 Prioryear nds Invesbncnts io 2,414220 2.524,607 Totsl FlxedAssets 2,414220 2,524.(rfI7 Curr•AtAsgets: Dcbtora Cash at bank li 12 61.155 86.880 Totsl C¥TrentAs8ets 62277 86,880 LIAbffilltlBs: Crcditors.. Amounts failing due within one y¢4r A3 (4,129) (4,862) N¢t Cumn¢As$ets orLl•bilili 58.148 82,018 Totsl NetAg9¢ts or Li8biAitita 2.472,368 2,606,625 The FuMd5 of the Chrity: Unrestri¢t¢d fu]Mts 15 2.472,368 2.606,625 Thtl ChArity F*xd$ 2,472,368 2.606.625 Approved by th¢ Tnjstee on 3010112026 and 5igncd on its behalf by.. Cowdr4yTrut Limited Dlrec¢•r
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CItARLES IL BURRELL'S CHARITY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Sttstory IDform#tio Charles R Burrell's Charity TrL]St i5 a registered ¢harity. The registered numE¢r and principal office adths$ can t¢ found in the Rqrt ofthe Tn]stee's. Attounting Policies •1 BASIS of fiDan¢l•l s¢leJneNts prepArtlon Th¢ fin¢18] statements ofthe charity, Ivhich is a public Eenefit entity, h&v¢ been pjrpgred fft T&T¢ With th¢ Charitles SORP IFRS 102) 'AcL¥)unting and ReEK>rting by Charitie5'. Siat¢m¢nt of R#omm¢nd¢d Prortice applirable to ChLtieS preparing their a¢¢ounts in accordance with the Finantia] ReFx)rting Stsndard applicable in the UK aThl Republic of Ireland IFRS 102} {eff¢aive l January 2019),, the Firtartual ReFOrting Standard applicable in the United Kitt8dom and Republi¢ of Irelattd IFRS 1021 arld the Charities A¢1 2011. The fLtwicia] stam¢Thts have b¢¢n prep8red w)d¢r the histOTi¢al cost eonvention. The financia] statements have Ix¢n Wep01 to gÈve a'true and fairf view ond have departed from the ChIlle5 (Accounts and R¢rx)nsl Regulations 28 only to thc extettt required to wovi(k a 'true ld fairf view. This Oarture has involved following Accounting ad Reporting by Charities pr¢paring their accounts in accordance with the Firt)cial ReFKprting Standard applicable in thc UK and Republic oFIr¢l8od (FRS 102) i85Ld in 0¢¢r 2019 rather than the Awunitng and R¢poning ty Chitles.. Statement of R¢¢ommendcd Practice effectivc from l April 2(M15 which has since been re]noved. The Truste¢ consi(krs that there are no Tnateria] uncertainties about the TrtJst'$ ability to ¢On¢ioue as a going concern. b) Natsr¢ of futhd$ All fi]ntl8 held 8re utLTestricted 8rJd the Ttusitt is free to Use them in accordance with th¢ ¢hil&ble objects. Fixed as$¢1 Invtstwewts Invc5tllL¢nts are stated at market va]ue at the Balance Shed da¢¢. O¥e$ investtnents srt tranBlated sterling at th¢ r8te$ ruling at ihe year end. Th¢ Ststcment of FirLe18] Activities {SOFA) induik5 the net g8in5 and losse5 on revajuation and di5W>5als throughout th¢ yeor. IDtfjiii¢ Income is reCOl$ed the SOFA once th¢ ¢hariry has entitlement to the funds. it is prob4ble that th¢ in¢ome will be received and the amount can be measured reliably. Exp¢•ditUTe Liabilitie5 recogniseil as ¢xpenditure &8 soon 8s there is a legal or constructive obligation ccmmittirtg the to that exp¢nditur¢ li is probablc that a iraosfer of ¢¢oTh)mi¢ in¢fits will be required in settl¢m¢nt th¢ 8mount (>f the obligation can be me8swed reliably. Expenditurc is accounted for on an acuuats basis and has been classified under headings that aggre8at¢ all costs r¢lat¢d to that category. Where Costs cannot Ix dire¢tly tribUted to particular headings, they have been allocated to activities on basis consistent with the use of r¢sour¢es. CharAtsbl¢ grarjts Grants p&y&ble are re¢01$¢d in the SOFA when they ar¢ approved by the Tn]stee atml the recipt¢nt be¢0 infomied of the ftmount to be pai(L
CHARLES IL BURRELL'S CIL4RITY TRUST NOTES TO THE FINANCIAL STATEMEiYrs FOR THE YEAR ENDED 5 APRIL 2025 (Continuedl Foreign curraeles Ttons&¢tions deminated in 8 fojeign tU¢¢Y are transleted into sterling at the rats of exchftt)g¢ tullng at the date of the tranStIOn. At the Balance Shcet date at liabiliti¢s deJx>minated in a for¢1 ¢urr¢n¢y trgn51ated at ttLe rate ruling at that dat& All exchange differerKes are deAlt with in the SOFA. IrrtcoverableVAT ITrecowerable VAT is written off to the same ¢xpense ¢egory in which the actual expenditure w&% incuTre(L Remun¢r¢lfyn of Tr•stees In the finsnciaj ycar lo 5 April 2025 thc Trustee did not receive remun¢tation w havc its expthses reimbursed by the Charity. CowdtP¢y Trtt Litnited char8ed admittistr8tion expensts of £16,70312024.. £14.196]. 2025 2024 Ina)me from inv¢$thJ¢nts Gro&8 bank interesi 35,870 864 35.513 1.991 36.734 37.504 Exwditure on raising funds 2025 2024 Investment mana8¢m¢t)t fees 925 907 925 Charitsble attivits Dirett costs Support eosts {set Dots 7) (see note 8) 2025 Totsl 2024 Total Clwitable expenditure 56.778 17.954 74,732 61,767 Direet et The Charity ur4Jertook Th) diTKt charitable artiviti¢s bu¢ aword¢d groAts tts a numkr of institirtiotL8 in firthemce of its charitable objectivc5. Th¢sc are follow$'. Fine Cell Work Consetvation Coll#tive ChaTitiesAid Foundation Camfed Internationa] AmbEr 20.000 17.278 17,000 1.500 1,000 Total for the ytsr 56,778 10-
CHARLES R. BURRELL'S CHAIUTY TRUST 1¥4OTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 AFRIL 2025 (Continuedl Direet costs IContlDxed) All15 ofgTAnts u•d¢ GrDts to i115titutions Grnnts to individuals Total Advancement of citizenship Dr community development Advancement of environm¢nta] PTOtection or imwTrvement Relief ofthos¢ in ne¢¢ by rwon of youth. 8g4 ill-healit4 di8ability. financi h8rd$hip or other disadv8nthg¢ Any other ¢h8ritable purrKTrs¢s 20.000 17,278 20,IKJO 17278 2.500 17,(MKI 2,500 17.000 56,778 56,778 Sppport ¢osts 2025 Admini$traiion Exp¢n8es Independent exan]iThation fee5 Portfolio Stewardship fe¢5 16,703 14.196 1.020 1,169 1,251 17,9S4 16.385 During thc ycar admitsistration expenses of £16,703 We ChBed by Cowdray Trwi Limited (tru¢¢1. The gll]ount of £935 pl VAT w8s charged by Shaw Gibbs (Audit) Limited for th¢ Independent ExaJnination of tbe5c FirAnciaI Statemen1 Stsff ¢osts There are no employecs so consequently tjo Staff costs have been illcued. 10 Fixed ssset Inves¢th¢Ats 202$ Mwk¢t Val brought forward 2,524.607 2,363,879 Addttions 7,800 9,gY2 Less disposal pro¢ecd5 (22.853) (10,005) Net g[lo8$¢s} on inv&thents {95,334) 160.741 Mark¢t vAlue carried fotivard 2,414220 2,524,607 GeogrphitAI Dy5ts 2025 2024 United Kingdom investments 2,414.220 2,524,607 2.414220 2.524,607
CHARLES IL BURRELL'S CHARITY TRUST NOTES TO THE FINANCIAL STATEMEiYrs FOR THE YEAR ENDED S APRIL 2025 (Continued) 10 Fixed asset inV¢5tmeMts (Contlxu The inv¢stm¢nts weTe revalued each Y up to 5 April 1999. Therefor4 thtyr is no historic cost figure available. The book v8luE of the investments at 5 April 2025 w&8 £2,(K)7,562. Net 8ainsl{losses) on investm¢nts in¢lude$ rtsIiBed gains for the year of £4,773 [2024.. gain £3,108] and unrealiscd los8cs on I¢VUtIon to marke( value of £1,107[2024. Bain £157,633]. li Debtor 2025 2024 TnL%1e. fees 1.122 1,122 12 CAsb at bank 2025 2024 Royal Bank of Scotland S¢hr<th & Co 6,585 54,570 15,905 70,975 61,155 86.880 13 Creditors.. AMouDts flliDg due within o¢ yt*r 2024 Administratio(t Expenses Payments due to charities Portfolio StewdShip fees Manin and Compatty Audit Litnit 3,629 51X) 2.173 500 1,169 1,020 4,129 4.862 14 Comml¢ments Numb¢r of ye&r8 Totsl No conditions attached: S¢i¢ncc Mus¢um 5(K) 500 500 15 MoverneAt ID funds 2025 Zll24 Unrestricwl funds.. Balance brought forward Net movuneni in fmds 2.606,625 (134,257) 2.471.054 135,571 Bdance carried forward 2.472,368 2.606,625 12-
CHARLES IL BiJRRELL'S CHARITY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2025 (Continued) IS Movement fund$ (Comtinied) Net movement in fi]nds included in the aknve are follows.. Gains and MoverneDt In futtds OutgoiDgs Unre8trictcd Fun&8 36,734 175,6571 (95.3341 {134.2571 16 Relted Party Tr4nsg¢tlons During the year Millbank Fin&nciaJ Service5 Limited {WSy chorged fre$ of £1,251 12024.. £1,169] br their Portfolio Stewarthhip $¢rvi¢¢ 8J)d CowdTay Tnjst Limited d)8rged adttlinistration expenses of £16,70312024.. £14,196]. Th¢ Hon H M T Gibso The Hon C APe4rson and Mr M P HoThis (Direaors of Cowdray Trw%t Limited) OJE DirecT5 of MFS. 1¢ shou]d be noted thai a $ibliT)g of Hon H M T Gibsim and Hon P N Gibson, th¢ father of Mrs C A Bulbugh. the son of Mr J R E Srnith and the motheT of Mr R C P Troughion {Director$ of Cowdray Trust Limited) gJe Directors of MFS. namely Hon W K Gibson. Hon C A Pearson. Mr O G E Smith and Mrs S H Troughton respcctiv¢ly. Mr R C PTroughton resiled Directorof Q>wdray Trust Limited on 13 June 2024. Mr5 S H Troughton resigned as Director ofMFS on 17 S¢p¢emir 2025. 13