**Registered Charity No 326126**
## **THE HENRY AND CHRISTINE ARMITAGE BURTT TRUST**
## **REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 5TH APRIL 2025**
**THE HENRY AND CHRISTINE ARMITAGE BURTT TRUST - 5TH APRIL 2025**
## **CONTENTS**
||Page|
|---|---|
|General Information|2|
|Trustees' report|3-4|
|Independent Examiner's Report|5|
|Statement of Financial Activities|6|
|Statement of Financial Position|7|
|Notes to the financial statements|8-11|
**Page 1**
**THE HENRY AND CHRISTINE ARMITAGE BURTT TRUST - 5TH APRIL 2025**
## **GENERAL INFORMATION**
## **Background**
The trust deed was executed on 16th October 1980 by Mr. Henry Burtt to fund a Charity for particular purposes connected with the Society of Friends.
The Henry and Christine Armitage Burtt Trust was registered as a charity on 1st June 1982 (number 326126).
## **Objects**
The objects of the Charity are to apply such of the income as the Trustees determine for the benefit of The Retreat, York, (a non-profit making Registered Nursing Home) provided that its administration shall continue to be vested in members of the Society of Friends, and secondly, to make grants to meetings of the Religious Society of Friends for the purpose of appointing resident wardens and to enable members "travelling in the Ministry" to receive their travelling and out-of-pocket expenses. Should the Trustees cease to apply the income for these purposes, the Capital and Income of the Charity is to be held in trust for the Society of Friends.
There is a change in "The Retreat", this is explained in the trustees report below.
## **Trustees**
Roger John Butler (Executive Trustee) Roger Burtt (Executive Trustee) David Howard (Executive Trustee) Martin Louis Wood Sam Gibson Clova Townhill James Gwatkin Nicholas Eyre (Appointed on 25/09/2024)
## **The Charity's Registered Address**
c/o 2 Majestic Court, Queens Valley, Ramsey, Isle of Man IM8 1NG.
## **Bankers**
National Westminster Bank, 27/28 St Peters Hill, Grantham, Lincs, NG31 6 QG.
## **Stockbrokers and Investment Managers**
Canaccord Genuity Wealth Management, 41 Lothbury, London, EC2R 7AE.
## **Independent Examiner**
Niall Kingsley FCA, Duncan & Toplis Limited, 3 Castlegate, Grantham, Lincs NG31 6SF.
**Page 2**
**THE HENRY AND CHRISTINE ARMITAGE BURTT TRUST - 5TH APRIL 2025**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5TH APRIL 2025**
The trustees present their annual report and financial statements of the charity for the year ended 5th April 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES (including reporting for public benefit)**
The objects of the Charity are to apply such of the income as the Trustees determine for the benefit of The Retreat, York, (a non-profit making Registered Nursing Home) provided that its administration shall continue to be vested in members of the Society of Friends, and secondly, to make grants to meetings of the Religious Society of Friends for the purpose of appointing resident wardens and to enable members "travelling in the Ministry" to receive their travelling and out-of-pocket expenses. Should the Trustees cease to apply the income for these purposes, the Capital and Income of the Charity is to be held in trust for the Society of Friends.
The Retreat no longer operates as a residential home, the bulk of its land having been sold. Also, very few meeting houses have resident wardens. However, the trust deed states that the purpose of the support for resident wardens was to secure that meeting houses, primarily in Lincolnshire, are used "for creative purposes as well as caring for the structure and fabric of the buildings". The trustees therefore now view this as being their primary objective and, because of the changed circumstances, that this is in line with the Cy-Pres concept contained in section 62 of the Charities Act 2011.
The trustees have paid regard to Charity Commission guidance on public benefit.
## **GRANT MAKING POLICY**
The trustees' policy is to only distribute income (for which purpose they regard investment management costs as a charge to capital account). Requests for grants are received during the year and considered by the Trustees at the annual general meeting.
## **ACHIEVEMENTS AND PERFORMANCE**
The Charity generated sufficient income from its investments during the year to enable grants to be considered for payment after the year end.
## **FINANCIAL REVIEW**
The Charity's income is entirely reliant on returns from its investments. The trustees' policy is to only distribute income. During the year grants were made totalling £20,000.
## **Investment policy and performance**
The trustees' investment policy is to balance the generation of income, to enable the trust to fulfil its objects, with the desire to maintain and improve the capital value in order that the trust can be sustained in the longer term. The income has increased by 18% compared to the previous year and the capital value of the portfolio (including monies held on deposit) has decreased by 0.4%.
The trustees' investment policy is a long term one. They feel that markets can never be timed consistently and successfully and their policy is to remain fairly fully invested at all times.
## **RESERVES POLICY**
The trustees aim to maintain the reserves and only distribute income. The Trust does have the ability to distribute from capital, if deemed necessary. Where possible, however, we aim to distribute from income in order to protect the long-term purchasing power of the capital. We are, however, prepared to distribute capital for specific projects if they are deemed to be appropriate.
**Page 3**
## STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document The trust deed was executedon 16th October 1980 by Mr Henry Burtt to fund a Charity for particular purposes connected with the Society of Friends.
## Organisational structure
The Trustees who served during the year are detailed on page 2. The number of Trustees must not be less than five or more than eight, and two or three of their number may be appointed to act as Executive Trustees to deal with the ordinary administration of the Charity.
The trustees discuss any matters arising on the charity's affairs through correspondence and meet annually to consider requests for grants, the accounts and other matters
All trustees give of their time freely and no trustee remuneration was paid in the year. Details of trustee expenses are disclosed in note 7 to the financial statements.
## Risk management
The only risk faced by the charity lies in the performance of investments.
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PPRO o, BEHALF OF THE TRUSTEESBY
ROGER BUTLER =
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EXECUTIVE TRUSTEE
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DATED : 1 S$ AY % u she Qo <
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Page 4
## **THE HENRY AND CHRISTINE ARMITAGE BURTT TRUST - 5TH APRIL 2025**
## **INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THE HENRY AND CHRISTINE ARMITAGE BURTT TRUST**
## **Independent examiner's report to the trustees of the Henry and Christine Armitage Burtt Trust**
I report to the charity trustees on my examination of the accounts of the Henry and Christine Armitage Burtt Trust for the year ended 5 April 2025.
## **Responsibilities and basis of report**
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner’s statement**
I have completed my examination.
I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 130 of the Act; or
- 2 the accounts do not accord with those record; or
- 3 the accounts do not comply with applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other then any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in the report in order to enable a proper understanding of the accounts to be reached.
Niall Kingsley FCA
Duncan & Toplis Limited 3 Castlegate Grantham Lincolnshire NG31 6SF
02/09/2025 Dated: ……….……….……….……….
**Page 5**
**THE HENRY AND CHRISTINE ARMITAGE BURTT TRUST - 5TH APRIL 2025**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5TH APRIL 2025**
|Note
**INCOME AND ENDOWMENTS FROM:**
Investment income
3
**TOTAL**
**EXPENDITURE ON**
Raising funds
4
Charitable activities
5|**5th April 2025**
£
£
34,149
34,149
13,164
22,321
35,485
(1,336)
3,128
1,792
1,495,581
£1,497,373|**5th April 2024**
£
£
28,926
28,926
12,567
21,036
33,603
(4,677)
102,059
97,382
1,398,199
£1,495,581|
|---|---|---|
|**TOTAL**
**NET GAINS/(LOSSES) ON**|||
|**INVESTMENTS**
**NET INCOME / (EXPENDITURE) FOR THE YEAR AND**
**NET MOVEMENT IN FUNDS**
**TOTAL FUNDS BROUGHT FORWARD**
**TOTAL FUNDS CARRIED FORWARD**|||
The notes on pages 8 to 11 form part of these accounts
**Page 6**
;
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THE HENRY AND CHRISTINE ARMITAGE BURTT TRUST - 5TH APRIL 2025
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STATEMENT Of FINANCIAL POSITION AT STH APR 2025
Note Sth April 2025 Sth April 2024
£ £ £ £
FIXED ASSETS : INVESTMENTS
Quoted Investments 8 143,664 1423,257
CURRENT ASSETS
Cash Balances :
Nat. West Bank - Deposit Account 50,180 42,932
Nat. West Bank - Current Account 200 200
Stockbroker - Deposit Account 18,632 31,357
69,012 74,489
CREDITORS
Amounts falling due within one year 9 2,304 2,165
NET CURRENT ASSETS 66,708 72,324
NET ASSETS £1,497,373 £1495,581
ae | [RRR] Ne
FUNDS
Unrestricted funds
Capital account 10 1,476,763 1,486,799
income account 10 20,610 8,782
TOTAL FUNDS £1,497,373 £1,495,581
————————— (a
We-the| [—] tive Trustees of The Henry And Christine Armitage Burtt Trust. hereby approve the accounts for the year ended Sth April 2075
/
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tted
8 1 Butler D Howard SpaeS
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Dated \s AL 5- cr Ve.
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The notes on pages 8 to 11 form part of these accounts
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Page 7
**THE HENRY AND CHRISTINE ARMITAGE BURTT TRUST - 5TH APRIL 2025**
## **NOTES TO THE FINANCIAL STATEMENTS**
## 1 **STATUTORY INFORMATION**
The Henry and Christine Armitage Burtt Trust is an unincorporated charity, registered in England and Wales. The charity's registered number and principal office address can be found on the Charity Commission website.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
The financial statements are presented in pound sterling (£) which is the functional currency of the charity and are rounded to the nearest £.
The financial statements cover the individual entity.
The entity constitutes a public benefit entity as defined by FRS 102.
## 2 **ACCOUNTING POLICIES**
## **Basis of Preparing the Financial Statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities': Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
The financial statements are prepared on a going concern basis.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provided a 'true and fair' view. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
## **Investment Income Recognition**
U.K. dividends and interest from gilts are included in the Statement of Financial Activities when they are receivable at an amount which includes any tax recoverable from the HM Revenue & Customs.
Interest from deposits is included in the Statement of Financial Activities on a receivable basis.
## **Expenditure Recognition**
All expenditure is included in the Statement of Financial Activities in the period in which it is incurred.
Provision is made in the accounts for accountancy and professional fees incurred but uninvoiced at the year end.
**Page 8**
**THE HENRY AND CHRISTINE ARMITAGE BURTT TRUST - 5TH APRIL 2025**
## **NOTES TO THE FINANCIAL STATEMENTS**
- 2 **ACCOUNTING POLICIES - continued**
## **Investments and Investment Gains / (Losses)**
a). Stocks and shares quoted on the London Stock Exchange are included in the Statement of financial position at market value at the balance sheet date.
b). Profits and losses arising on the disposal of investments are transferred to the Capital Account as incurred.
c). The movements in market value of the investments during the year are transferred to the Capital Account.
d). Investments are verified by confirmation from Canaccord Genuity Wealth Management, the Charity's stockbrokers and investment managers, that the investments are registered in the brokers nominee name.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Funds structure**
All of the funds of the charity are unrestricted which the trustees are free to use for any purpose in furtherance of the charitable objects.
|**INVESTMENT INCOME**
Dividends and Interest from U.K. Investments
Dividends and Interest from Foreign Investments
Bank and Broker Interest
**RAISING FUNDS**
Portfolio Management Charges|**5th April 2025**
£
20,994
11,913
1,242
£34,149
£13,164|**5th April 2024**
£
21,870
5,966
1,090
£28,926
£12,567|
|---|---|---|
## 3 **INVESTMENT INCOME**
## 4 **RAISING FUNDS**
**Page 9**
**THE HENRY AND CHRISTINE ARMITAGE BURTT TRUST - 5TH APRIL 2025**
## **NOTES TO THE FINANCIAL STATEMENTS**
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5th April 2025 5th April 2024
£ £
5 CHARITABLE ACTIVITIES
Grants:
Lincolnshire Area Meeting - 7,500
Rookhow Meeting House - 7,000
Bake the difference - 4,000
Wallingford Appeal 10,000 -
Quaker Tapestry 10,000 -
20,000 18,500
Governance costs:
Independent examiners' remuneration 2,311 2,506
Trustees Expenses (note 7) - 22
Bank charges 10 9
2,321 2,537
£22,321 £21,037
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## 6 **STAFF COSTS**
The charity does not employ any staff and therefore no individual received employee benefits in excess of £60,000 (2024 - none).
## 7 **TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 5 April 2025 nor for the year ended 5 April 2024.
## **Trustees' expenses**
The trustees' expenses paid for the year ended 5 April 2025 were NIL (2024 - £22).
|8
**INVESTMENTS**
Market value at 6 April 2024
Additions
Disposals
Realised and unrealised gains / (losses)
Market value at 5 April 2025|£
1,423,256
358,407
(354,127)
3,128
£1,430,664
**5th April 2025**|**5th April 2024**
£
1,342,984
337,417
(359,204)
102,059
£1,423,256|
|---|---|---|
**Page 10**
**THE HENRY AND CHRISTINE ARMITAGE BURTT TRUST - 5TH APRIL 2025**
## **NOTES TO THE FINANCIAL STATEMENTS**
|£
9
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Accruals - Independent examiners' remuneration
£2,304
10
**MOVEMENT IN FUNDS**
Net Movement
At 6 April 2024
in funds
£
£
**Unrestricted funds**
Capital account
1,486,799
(10,036)
Income account
8,782
11,828
**TOTAL FUNDS**
£1,495,581
£1,792
Net movement in funds, included in the above are as follows:
Incoming
Resources
Transfers
resources
expended
£
£
£
**Unrestricted funds**
Capital account
-
-
(13,164)
Income account
34,149
(35,485)
13,164
**TOTAL FUNDS**
£34,149
(£35,485)
-
**5th April 2025**|**5th April 2024**
£
£2,165
At 5 April 2025
£
1,476,763
20,610
£1,497,373
Gains/(losses)
Movement in
on investment
funds
assets
£
£
3,128
(10,036)
-
11,828
£3,128
£1,792|
|---|---|
The transfer shown above relates to the re-allocation of the portfolio management charges.
All of the funds of the charity are unrestricted which the trustees are free to use for any purpose in furtherance of the charitable objects.
## 11 **RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 5 April 2025 (2024 - none).
**Page 11**