The M T & S D Burton Charitable Settlement
Unaudited
Annual Report and Financial Statements
for the year ended 5 Aprll 2024
Charity Commisslon Reference Number 327450
The Glebe House
Sacombe
Hertfordshire
SG12 OJJ

The M T & S D Burton Charitable Settlement
Year ended 5 April 2024
Contents
Trustees, Report
2to5
Independent Examiner's Report
Statement of Financial Aclivities
Balance Sheet
Notes to the Financial Statements
9t012

The M T & S D Burton Charitable Settlement
Trustees, Report (contlnued)
for the year ended 5 April 2024
Legal and administrative information
Charity number
327450
Trustees:
Mark Timothy Burton
Sally Denise Burton
Jeremy John Burton
Independent Exarniner:
Karen Rae, Armstrong Watson LLP
Accountants:
Armstrong Watson LLP
Third Floor
10 South Parade
Leeds
LS1 5QS
Bankers..
Bank of Scotland plc
33 Old Broad Street
London EC2N 1 HW
Barclays Bank plc
1 Churchill Place
London E15 5HP
Investment Managers..
Rathbone Investment Managemenl
1 Curzon Street
London W1J 5FB
Principal address..
The Glebe House
Sacombe
Hertfordshire SG12 OJJ
The Trustees present their report together with the financial statements of the charity for the year ended 5
April 2024. The financial statements have been prepared in accordance with the accounting policies set out
in note 1 to the accounts and comply with the charity's trust deed, the Charities Act 2011, the Charities
(Accounting and Reports) Regulations 2008 and the Statement of Recommended Practice "Accounting and
Reporting by Charities" (Charities SORP (FRS102}).
Objectlves and actlvltles
The object of the trust in accordance wilh the trust deed is lo make distributions to such charitable institutions
or purposes as the trustees in Iheir absolute discretion select.
Donations are made al Ihe discretion of the Trustees and charitable donations are normally made to health,
arts, education and social need charities.
Donations to individuals will not be considered. Appeals should be in writing only to the trust managers.
Unsuccessful appeals will not necessarily be acknowledged.
Donations are paid out of income, but the Trustees may, if they feel it necessary, pay donations out of capital.

The M T & S D Burton Charitable Settlement
Trustees, Report {continued)
for the year ended 5 April 2024
Strategies for achieving objectives
The trust is managed by the Trustees and policy decisions are determined by consensus. The capital fund
is invested in a porffolio of equity based quoted investments. Investments are managed by the investment
manager on a discretionary basis with the objective of obtaining an acceptable level of income with a
reasonable prospect of medium-term capital growth.
Appropriate policies are determined to achieve a balanced investment strategy taking account of the
investment risks to which the portfolio is exposed.
Grant-making policies
Grants will normally be made out of income and not capital. The trustees may, however, at their discretion,
use the capital of the trust for charitable purposes.
At the trustees, discretion, some charities are supported on a regular basis, but the trustees will also consider
individual appeals on a one-off basis. The grants to be awarded are decided at the trustee meetings.
Achlevements and performance
Maln achlevements of the charity
The year proved successful in terms of the number of grants awarded. The grants paid in the year are listed
in note 6 to the financial statements.
Public benefit statement
The Trustees of the MT & SD Burton Charitable Trust confirm that they have complied with their duty under
section 17 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on
public benefit.
Financial review
Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the trust has adequate
resources lo continue in operational existence for the foreseeable future. For this reason, they continue to
adopt the going concern basis in preparing the financial statements. Further details regarding the adoption
of the going concern basis can be found in the accounting policies.
Reserves pollcy
It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, to
ensure that management and administrative expenditure for twelve monlhs can be met out of undistributed
investment income. The trustees review both the reserves policy and the reserves position on a regular
basis.
The Trustees aim to maintain the existing investment portfolio at currenl levels and to make charitable
donations in line with their income each year. Reserves at 5 April 2024 amounted to £2,813,031 and are
held for the generation of income and furtherance of the charity's objectives.
Investment policy
There are no reslrictions on the trustees, powers to invest. The trustees set the investment strategy taking
into account the income requirements, risk profile and Ihe investment manager's view of economic market
conditions. The portfolio risk profile is medium. The trust aims to obtain a balanced return from capital
growth and income. This policy is reviewed annually by the trustees and the portfolio is monitored by them
regularly.

The M T & S D Burton Charitable Settlement
Trustees, Report (continued)
for the year ended 5 April 2024
Financial activities and affairs
Investment income during the year amounted to £88,457 (2023.. £89,422). This represents a yield of 3.5 %
on the average market value of the investments during the year.
The trust made charitable donations of £76,510 during the year {2023- £74,010) and total expenditure for
the year was £94,584 (2023.. £91,825).
Overall net expenditure for the year was £6,127 (2023.. £2,403).
Net losses realised on the sale of investments amounted to £27,269 (2023.. £27,716) and net unrealised
gains attributable to the change in the market value of investments amounted to £216,098 (2023: net losses
of £231,570).
The overall net increase in funds for the year is £182,702, resulting in total funds of £2,813.031 to carry
forward at 5 April 2024.
During the year under review the charily purchased investments at a cost of £505,180 and received proceeds
of £520,556 from the sale of investments.
The market value of the trust's investments at 5 April 2024 amounted to £2,657,490 (2023: £2,456,767).
The investments of Ihe trust are administered by the portfolio managers on a discretionary basis.
Environmental and ethical consideralions are given on an individual basis when changes to the investments
are discussed wilh the managers.
The Trustees receive no remuneration and charge no expenses whilst acting in their capacity as trustee or
otherwise.
Structure, management and governance
The MT & SD Burton Charitable Settlement is a registered charity, number 327450, and is constituted under
a Trust Deed.
The trustees who have served during the year are set out on page 1. The board of trustees is responsible
for the appointment of trustees.
The trust is managed by the trustees who hold meetings on a regular basis.
No trustees remuneration or expenses were paid in the year.
There are no related party transactions.
Methods of appolntment or election of Trustees
The management of the charity is the responsibility of the trustees who are elected and co-opted under the
terms of the Trust Deed.
Risk management
The charily's Trustees have considered the major risks to which the trust is exposed to and take steps to
lessen them.
Plans for the future
The trust will continue to support charitable organisations that benefit health, arts, education and social
needs.
The trust plans to continue to make grants to charilable institutions of this type and of a similar nature.

The M T & S D Burton Charitable Settlement
Trustees, Report (contlnued)
for the year ended 5 April 2024
Trustees, responsibility for the financial statements
The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordance
with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted
Accounting Practice).
The law applicable to charities in England & Wales required the Trustees to prepare financial statements for
each financial year which give a true and fair view of the state of affairs of the charity and of its incoming
resources and application of resources, including its income and expenditure, for that period.
In preparing the financial slatements, the Trustees are required to..
select suitable accounting policies and apply them consistently.
observe the methods and principles of the Charities SORP {FRS 102)-
make judgements and accounting estimates that are reasonable and prudent-
state whether applicable UK Accounting Standard (FRS 1021 have been followed, subject to any
material departures disclosed and explained in the financial statements.,
prepare financial statements on the going concern basis unless it is inappropriale to presume that
the charity will continue in operation.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the charity's transactions and disclose with reasonable accuracy al any time the financial position of the
charity and enable them to ensure that any financial statements comply with the requirements of the Charities
(Accounting and Reports) Regulations 2008 and the provisions of the Trust Deed. They are also responsible
for safeguarding the assets of the charity and for taking reasonable steps for the prevention and detection of
fraud and other irregularities.
Trustees Approval
The Trustees, Report was approved by the Trustees and signed on their behalf by
MT Burton (Feb 3, 2025 18'.34 GMT)
Mark Burton
Trustee
Date:
03/02/2025

The M T & S D Burton Charitable Settlement
Independent Examiner's Report to the Trustees
for the year ended S April 2024
I report lo the Trustees on my examination of the accounts of the M T & S D Burton Charitable Settlement
on pages 7 to 12.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance
with the requirements of the Charities Act 2011 ("the Charities Act").
I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act
and in carrying out my examination I have followed all the applicable Directions given by the Charily
Commission under section 145(5){b) of the Act.
Independent examiner's statamant
I have completed my examination. I confirm no material matters have come to my attention in connection
with the examination giving me cause to believe that in any material respect:
the accounting records were not kept in respect of the Trust as required by section 130 of the Act,.
or
the accounts do nol accord with those records. or
the accounts do not comply with the applicable requirements concerning the form and content of
accounts set out in the Charities {Accounts and Reports) Regulations 2008 other than 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 this report in order to enable a proper understanding of the accounts to be
reached.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities
(Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the
Charily's Trustees those matters l am required to state to them in an Independent Examiner's Report and
for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to
anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Karen Rae IFeb 3, 2025 21:54 GMT)
Karen Rae FCCA
Independent Examiner
Armstrong Watson LLP
Third Floor
10 South Parade
Leeds
LS1 SQS
Date
03/02/2025

The M T & S D Burton Charitable Settlement
Statement of Financial Activities
for the year ended 5 April 2024
Unrestricted funds
Capital
Income
fund
fund
2024
2024
Total
Total
2024
2023
Income
Note
Investment income
UK dividends
UK interest
Foreign dividends
Foreign interest
Property income distributions
Deposit interest
52,421
12,785
12,553
4,838
5,524
336
52,421
12,785
12,553
4,838
5,524
336
45,171
9,827
23,521
4,690
5,824
389
88,457
88,457
89,422
Total Income
88,457
88,457
89,422
Expenditure
Direct charitable expenditure
Charitable donations
76,510
76,510
74,010
Administrative expenditure
Accountancy
Independent examination
Investment adviser's management fees
1,035
1,035
13,934
1,035
1,035
2,070
2,070
13,934
2,070
2,070
13,675
Total expenditure
16,004
78,580
94,584
91,825
Net Incomel(exp6ndltura)
{16,004)
9,877
(6,127)
(2,403)
Othor recognised gains and losses
Unrealised gains on revaluation of investments
Realised gains (losses) on disposal of investments
216,098
(27,269)
216,098
(27,269)
(231,570)
(27,716)
Total other recognised gains
188,829
188,829
(259,286)
Reconciliation of funds
Net movement in funds
172,825
9,877
182,702
(261,689)
Funds brought forward
2,490,714
139,615
2,630,329
2,892.018
Funds carried forward
2,663,539
149,492
2,813,031
2,630,329
The statement of financial activities includes all gains and losses in the year and therefore a statement of total
recognised gains and losses has not been presented.
See note 5 on page 11 for the historical cost income and expenditure.
The notes on pages 9 to 12 form part of these financial statements.

The M T & S D Burton Charitable Settlement
Balance Sheet
at 5 April 2024
Unrestrlcted funds
Capital
Income
fund
fund
2024
Total
Total
2024
2024
2023
Note
Flxed assets
Investments
2,657,490
2,657,490
2,456,767
Current assets
Cash held by investment adviser
Cash at bank
13,364
{3,309)
1.792
151,469
15,156
148,160
41,307
139,794
10,055
153,261
163,316
181,101
Creditors: Amounts falling
due within one year
4,006
3,769
7.775
7,539
Net current assets
6,049
149,492
155,541
173,562
Net assets
2,663,539
149,492
2,813,031
2,630,329
Funds
Unrestricted funds
2,663,539
149,492
2,813,031
2,630,329
Total funds
2,663,539
149,492
2,813,031
2,630,329
The notes on pages 9 to 12 form part of these financial statements.
The financial statements were approved by the trustees and signed on their behalf by
MT Burton (Feb 3, 2025 18:34 GMT)
Mark Burton
Trustee
Date:
03/02/2025

The M T & S D Burton Charitable Settlement
Notes to the financial statements
for the year ended 5 April 2024
Accounting policies
Charity informatlon
The M T & S D Burton Charitable Settlement is a charity which is registered with the Charity
Commission for England and Wales under the registered number 327450. The principal address is
The Glebe House, Sacombe, Hertfordshire, SG12 OJJ. The charity is a public benefit entity.
Basis of accounting
The financial statements are prepared in accordance with The Charities SORP {FRS102)
Accounting and Reporting by Charities.. Statement of Recommended Practice applicable in the UK
and Republic of Ireland (FRS 102) {effeclive 1 January 2019), the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements are prepared under the historical cost convention, modified to include
investments at fair value.
The financial statements are prepared in sterling, which is the functional currency of the charity.
Monetary amounts in these financial statements are rounded to the nearest £.
Golng concern
There are no material uncertainties about the charity's ability to continue as a going concern for a
period of at least 12 months from the date of approval of the accounts. The charity has adequate
reserves lo meet its liabilities as they fall due.
Income
All income is recognised once the charity has entitlement to the income, il is probably that the
income will be received and the amount of income receivable can be measured reliably.
Investment income is included in the financial statements when received.
Income tax recoverable in relation to investmenl income is recognised at the time the inveslment
income is receivable.
Other income is recognised in the period in which it is receivable and to Ihe extent the goods have
been provided or on completion of the service.
Direct charitable expenditure
Direct charitable expenditure is included in the financial statements as and when paid by the trust.
Grants payable are charged in the year in which payment is made.
Other expenditure
Other expenditure is included in the financial statements on an accruals basis.
Taxation
The trust is exempt from UK income and capital gains tax to the extent that income and gains are
applied for charitable purposes. The trust is unable to recover value added tax on its expenditure
and accordingly expenses are shown gross of value added tax.
Investments
Investments are stated on the balance sheet at their fair value.
Both realised and unrealised gains and losses on investments are included in other recognised gains
and losses on the Statemenl of Financial Activities. Realised gains and losses on investments are
calculated as the difference between disposal proceeds and carrying value at the date of disposal.

The M T & S D Burton Charitable Settlement
Notes to the financial statements (continued)
for the year ended 5 April 2024
Trustees. rernuneration
None of the Trustees receive any remuneration or charge any expenses in connection with theirwork
as a trustee.
Investments
2024
2023
Market value brought forward
Additions at cost
2,456,767
505,181
(520,556)
216,098
2,766,892
287,355
(365,910)
(231,570)
Disposals at carrying value
Unrealised {losses)Igains
Market value carried forward
2,657,490
2,456,767
Historical cost at 5 April 2024
2,066,460
2,131,581
Investments are held within the following categories.
2024
2023
United Kingdom based organisations
Companies
Collectives
Government bonds
514,494
803,804
210,096
1,528,394
615,036
687,955
75,002
1,377,993
Overseas
Companies and collectives
1,129,096
2,657,490
1,078,774
2,456,767
All investments are listed on a recognised stock exchange. Investments are held in nominee accounts
on behalf of the trustees but in all other respects are considered to be directly held investments.
Accruals
2024
2023
Accountancy and examination fees
Investment management fees
4,006
3,769
7,775
4,140
3,399
7,539
10

The M T & S D Burton Charitable Settlement
Notes to the financial statements (continued)
for the year ended 5 April 2024
Note of historical cost income and expenditure
2024
2023
Net income for the year
Realised gains (losses) on investments calculated using cost
{6,127}
77,017
(2,403)
39,008
Historical cost income and expenditure
{83,144)
36,605
Difference between the hislorical cost gains or losses arising
from the realisation of investments and the actual gains or
losses calculated using carrying value
49,748
(66,724>
Unrealised (losses)Igains on investments
216,098
(231,570)
Movement in funds on Statement of Financial Activities
182,702
(261,689)
Charltable donatlons
Aggregate grants made to charitable organisations during the year fell into Ihe following categories.
2024
No. Grants
2023
No. Grants
2024
2023
Animals
Arts and Countryside
Cancer Treatment
Children and Young People
Community
Education
International
Medical
Poverty
Religion
Domestic abuse
200
1,330
13,125
19,205
23,450
6,350
200
1,600
8,350
1,200
1,500
200
330
19,250
18,880
14,050
6,600
350
2,075
8,625
1,100
2,550
18
13
26
10
22
13
14
74
106
76,510
74,010

The M T & S D Burton Charitable Settlement
Notes to the financial statements (continued)
for the year ended 5 April 2024
Funds
The capital fund comprises investment assets held for the generation of income. The income fund
comprises assets to fund charitable donations.
The trustees are free to use both the income and capital funds in accordance with the objects of the
charity. All funds are unrestricted in nature.
Related party transactions
There were no transactions with related parties during the year (2023 same).
12