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2023-08-31-accounts

Page
Report ofthe Trustees 1 to 4
Independent
Examiner's		 Report
Statement ofFinancial Activities
Balance Sheet
Notes to the Financial Statements 8 to 14
Detailed Statement ofFinancial Activities 15

for the Year E nded 31August 2023
2023 2022
Unrestricted Respected Endowment Total Total
fund funds fund funds funds
Notes
INCOME AND
ENDOWMENTS FROM
Investment
income		 50,872 50,872 47,618
EXPENDITURE ON
Raising funds 10,312 10,312 10,753
Charitable
activities
Provision ofgrants and
scholarships 30,884 30,884 29,994
Other 7,902 7,902 6,220
Total 38,786 10,312 49,098 46,967
Net gains/(losses) on
investments (37,506) (37,506) (43,729)
NET
INCOME/(EXPENDITURE) 12,086 (47,818) (35,732) (43,078)
Transfers between funds 13 (12,086) 12,086
Net movement
in		 funds (35,732) (35,732) (43,078)
RECONCILIATION OF
FUNDS
Total funds brought forward 1,664,728 1,664,728 1,707,806
TOTAL FUNDS CARRIED
FORWARD 1,628,996 1,628,996 1,664,728

2023 2022
Unrestricted Restricted Endowment Total Total
fund funds fund funds funds
Notes
FIXED ASSETS
Investments 10 1,505,708 1,505,708 1,553,526
CURRENT ASSETS
Debtors 7,026
Cash in hand 33,700 125,788 159,488 108,616
33,700 125,788 159,488 115,642
CREDITORS
Amounts falling due within one
year (33,700) (2,500) (36,200) (4,440)
NET CURRENT ASSETS 123,288 123,288 111,202
TOTAL ASSETSLESS
CURRENT LIABILITIES 1,628,996 1,628,996 1,664,728
NET ASSETS 1,628,996 1,628,996 1,664,728
FUNDS 13
Endowment funds 1,628,996 1,664,728
TOTAL FUNDS 1,628,996 1,664,728

INVESTMENT IN COME
2023 2022
Dividends 50,872 47,618
All income received during 2023 and 2022 was restricted.
3. RAISING FUNDS
Other trading
activities
2023 2022
Support costs 10,312 10,753
4. CHARITABLE ACTIVITIES COSTS
Grant
funding of Support
activities costs (see
(See note 5) note 6) Totals 2022
Provision ofgrants and scholarships 30,884 7,902 38,786 36,214
All expenses incurred during 2023 and 2022 related to restricted funds.
5. GRANTS PAYABLE
2023 2022
Provision ofgrants and scholarships 30,884 29,994
The total grants paid to individuals during the year was as follows;
2023 2022
Burkitt Scholarships to Durham School 26,684 24,394
Burkitt Scholarships to Oxford and Cambridge 4,200 5,600
30,884 29,994

Manageme Governan
nt cecosts Totals 2022
Other resources expended 4,000 3,902 7,902 6,220

Unrestricted Restricted Endowment Total
fund funds fund funds
INCOME AND ENDOWMENTS FROM
Investment
income		 47,618 47,618
EXPENDITURE ON
Raising funds 10,753 10,753
Charitable
activities
Provision ofgrants and scholarships 29,994 29,994
Other 6,220 6,220
Total 36,214 10,753 46,967
Net gains/(losses) on investments (43,729) (43,729)
NET INCOME/(EXPENDITURE) 11,404 (54,482) (43,078)
Transfers between funds (11,404) 11,404
Net movement
in		 funds (43,078) (43,078)
RECONCILIATION
OF FUNDS
Total funds brought
forward		 1,707,806 1,707,806
TOTAL FUNDS CARRIED FORWARD 1,664,728 1,664,728

FIXEDASSETINVESTMENTS
Listed Unlisted
investments investments Totals
MARKET VALUE
At 1 September 2022 1,482,936 70,590 1,553,526
Additions 141,596 141,596
Revaluations (34,330) (34,330)
Disposals (91,642) (63,442) (155,084)
At 31 August 2023 1,498,560 7,148 1,505,708
NET BOOKVALUE
At 31August 2023 1,498,560 7,148 1,505,708
At 31 August 2022 1,482,936 70,590 1,553,526
The portfolio is invested at 31August 2023 as follows:
Valuation
Overseas bonds 137,373 9%
UK Bonds 68,213 5%
UK Equities 366,921 24%
Cash awaiting
investment		 7,148 0%
UK Property investment 31,346 2%
Overseas equities 894,707 59%
E1,505,708 100%
DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
Amounts
due from related company		 7,026

CREDITO RS: AM OUNTS FALLING DU E WITHIN ONE YEAR
2023 2022
Amounts
due to related company		 33,700
Accruals 2,500 4,440
36,200 4,440
MOVEMENT IN FUNDS
Net Transfers
movement between At
At 1.9.22 in funds funds 31.8.23
Restricted funds
Burkitt Scholarships to Durham School (3,395) 3,395
Burkitt Scholarships to Oxford and
Cambridge (8,691) 8,691
Management costs 12,086 (12,086)
12,086 (12,086)
Endowment funds
Endowment Fund 1,664,728 (47,818) 12,086 1,628,996
TOTAL FUNDS 1,664,728 (35,732) 1,628,996
Incoming Resources Gains and Movement
resources expended losses in funds
Restricted funds
Burkitt Scholarships to Durham School 30,079 (26,684) 3,395
Burkitt Scholarships to Oxford and
Cambridge 12,891 (4,200) 8,691
Management costs 7,902 (7,902)
50,872 (38,786) 12,086
Endowment funds
Endowment Fund (10,312) (37,506) (47,818)
TOTAL FUNDS 50,872 (49,098) (37,506) (35,732)

Net Transfers
movement between At
At 1.9.21 in funds funds 31.8.22
Restricted funds
Burkitt Scholarships to Durham School (46,501) 4,585 41,916
Burkitt Scholarships to Oxford and
Cambridge 10,240 6,819 (17,059)
Management costs 36,261 (36,261)
11,404 (11,404)
Endowment funds
Endowment Fund 1,707,806 (54,482) 11,404 1,664,728
TOTAL FUNDS 1,707,806 (43,078) 1,664,728
Incoming Resources Gains and Movement
resources expended losses in funds
Restricted funds
Burkitt Scholarships to Durham School 28,979 (24,394) 4,585
Burkitt Scholarships to Oxford and
Cambridge 12,419 (5,600) 6,819
Management costs 6,220 (6,220)
47,618 (36,214) 11,404
Endowment funds
Endowment Fund (10,753) (43,729) (54,482)
TOTAL FUNDS 47,618 (46,967) (43,729) (43,078)

2023 2022
INCOME AND ENDOWMENTS
Investment
income
Dividends 50,872 47,618
Total incoming resources 50,872 47,618
EXPENDITURE
Charitable
activities
Grants to individuals 30,884 29,994
Support costs
Management
Administration
charge and marketing		 4,000 4,000
Investment
management		 fee 10,312 10,753
14,312 14,753
Governance
costs
Auditors'
remuneration		 3,902 2,220
Total resources expended 49,098 46,967
Net income before gains and losses 1,774 651
Gains/losses
Gains/(losses)
on fixed asset investments		 (37,506) (43,729)
Net expenditure (35,732) (43,078)