REGISTERED CHARITY NUMBEIL. 518269
Report of the Trustees and
Unaudlted Flnandal Statements
for the Year Ended 31 August 2024
for
The Burkltt Scholarship Fund
Clive Owen LLP
Charter¢d Accountants
Kepler House
Bebnont Busin¢ss Park
Durham
DHI ITW

The Burldtt Scholarshlp Fund
Contents of the Flnanclal St2ttn*nts
for the Year EDded 31 August 2024
Page
Report of the Trustees
Independent Examlner's Report
Statement of Ffinanclal Actlvltles
Balance Sheet
Notes to the Flnandal Statements
7 to 12
Detailed Statement of FlnAnelal Aetlvldes
13

Th¢ Burkltt Scholarship Fund
Report of the Trustees
for the Year Ended 31 August 2024
The Tn￿eS are pl¢ased to present their T￿Ort together witb th¢ financial statements of the charity for the year ¢nded 31
August 2024.
The financial stat¢m¢ttts comply with Qu￿¢nt statutory requirements, the Will of th¢ Late Lt Col H G S BuTkitt and
Slatem¢nt of R¢¢ommended Practice- Accounting and Reporting by Cbarities.
0￿E￿IvEs AIYD ACTIVITIES
Objectlves and airns
The objective of the Ch￿lty IS to provAde educational scholarsbips for pupils to attend Durham Cathedral Schools
Foundation and also to provide Schol￿ShIpS to Old Dunejmialls to attend coll¢g¢ at either Oxford OT Cambridge. The
latter are to fLmd work &t the University, for degrees or for travel abroad in connection with a course of study or
post￿dUafy r¢s¢arch. A travel scholarship may be awaTded to a research student in addition to a nornjal scholarship.
Th¢ investsnent policy of th¢ cknity contiDU¢S to be carrAed out on th¢ basis of balanced moderale risk and WAth
balance of emphasis on long-tern] income generation with capital nMintenanc¢ and growth requ¢5t¢d during the yvdr
¢nded 31 August 2024. The measurement of p¢rforn]ance will b¢ against reco8llised benchmarks.
Publ1¢ Beneflt
The charity's akms and achieven￿nts are Set out within tbis report. Th¢ activities set out in this report hav¢ been
undertaken to fillth￿ tbe Charitys cl]aritsble pwposes for the public benefit, Tbe trust¢es have complied with the duty
under Section 4 of th¢ Charities Act 2011 to have due regaTd to public benefit guidance published by the Charity
Commission and the truste¢8 hav¢ paid due regard to this guidance in d¢ciding what activiti¢& the charity thould
ulldertake.
At Tn￿tee Meetings when planning the actAvity of th¢ charity we k¢ep in mind the Charity ComD)ission guidanrK
T¢lating to ￿blIC Benefit.
AcI￿VEMENT AND PERFORMAI¥CE
Charitable aetlvltle5
At the sun]mer tenn meeting the trustees receive, consider and approve a list of recommended iexipients of awards for
the following academic year.
In the year to 31 August 2024 sev¢n members of Upper VI and four memb¢rs of Lower VI receiv¢d varying amounts.
There were fiv¢ awards of £700 which were ￿nted and paid to Old Dun¢lmians of Durham Cath¢dTal Schools
Foundation attending coll¢ge at Oxford or CambTidg¢ during the period.
The portfolio yielded £51,037 of inveskn¢nt Incon￿ during the y¢ar, which was a higber level of income Compared to
the PTior year of £50,872,
Page I

The Burkitt Seholarshfip Fund
Report of the Tru$tee$
for the Year EDded 31 August 2024
F￿ANc￿L REv￿w
Th¢ accounts have been prepared for a twelv¢-month period to 31 August 2024. The income for the y¢ar u￿bled the
tr￿Stee8 to meet all Conllnlth￿nts for ￿p¢ll$eS and grants in accordance with th¢ Will.
The investment portfolio of the Endowed Fund is under advice by Stockbrok¢rs with invesiment in both the UK and iti
other global Jllarkcts.
The invcstnlent p¢rfornwice was last discu￿ at the trustees meeting on 5 Jun¢ 2025. The In￿teeS are pleased with tbe
g¢neral perfonnance of the portfolio.
The trustees are advAsed that the portfolio is diversified across sectors sufficicntly to pmtect it against fluctuatio￿$ in
individual sectors.
Reserves policy
The Trustees aim to pr¢serve the level of reserves, so that a reasonable level of annual income is generated to award
Burkitt Scholarships both now and into the future. At 31 August 2024 total reseryes were £1.797,887 ￿]ch is sufficient
to ensure a reasonable level of annual income is generated from investtnents beld.
The tr￿Stee$ have directRon from the Will as to retention of income r¢8erves. The Will specifies that any Incon￿ not
spent shall be invested and added to the Capital Fund. The trustees frel that the Capital Fund is well placed to provide an
enth￿Illg flow of income.
Ri$ks polley
The tru8te¢s p¢riodically review the major risks to which the charity might ￿ ¢xposed and Systell￿ or pr￿edureS have
been established to manage those risks.
FUTURE PLANS
Th¢ trustees be]ieve that the asset allocation within the portfolio is very nwch in keeping with th¢ fund objectives of
income and gro￿ within a moderate risk profil¢, and th¢y are not planning to change the overall "shape. of the
portfolio in the near future.
The fiu)d is expected to yield gross income a similar level of gross income in 2024125 ¢ompared to 2023124. This will
cover the grants and scholarships that the trustees have awarded.
STRUCTURE, GOVERNANCE AND MAIYAGEMENT
Governing document
The Burkitt Scholarsbip Fund is constituted by the Will Trust of the Lat¢ Lt Col H G S Burkitt and is a registered charity
and as such aTe required to prepare fjnancial stat¢n]¢nts for ¢ach flnancial year, which give a true and fair view of the
state of affairs of the charity and of its financial results for that year.
To fulfil their requirell￿1ts, as set out in th¢ Statement of TTUStees ResponsAbilitie4 the trustses me£t twice yearly, and
the inv¢stment portfolio is reviewed every half_yeaT.
Any training requirements that are highlight¢d by individual trustees are organised promptly. and provision will continue
to be n)ade for an appropriate induction progrAnllne for any new trustees.
Th¢ ttwtees continue to provide financial 8UPPOrt in ac¢ordanr¢ with the objects set out below.
The trustees are concerned to aL8ure that all opportunities are taken lo broadcast the existen¢c of the benefits of the trust
so that th¢y ar¢ J)wl¢ l(nown to deserving pupils and stud¢nts wherever possible.
The trustees will also assess any opportuniti¢s, whirh may be of benefit to the charity.
Registered Charfity number
518269
Page 2

Tlie Burkitt Scholarship fund
Report of the Truste¢s
for the Year Ended 31 August 2024
Principal address
clo Durhain Catliedral Schools Fou[￿￿tion
The Grovc
Quai'ryheads Lane
D￿h￿rn
DHI 45Z
Trustees
Th¢ trnstecs appointed by the Will of the late Lt Col H G S Burkitt act as trust￿ of the Bui'kitt Sclwlatship Fund. The
chaTlty trustees durAng tlie year to 31 August 2024 were:
KJ MclAughlill
SPJ Dobsoii
Headmast¢r. Durham School
Local Community
Trustees ¢omprise oiie person nominated by the Goveniors of Durham School. ￿]d one P￿801] nominated to represenl
Ibe lo¢al coinmunily. neither of whom receives reinunerdtion.
Independent Examiner
Gary Ellis BA BFP FCA
Clive Owen LLP
Chartered A¢¢owitants
Kepler House
Belmont Busiiicss Park
Dw"han)
DHI ITW
Bi)nker$
Cater Alleii
2 Trilon Square
Regeiivs Place
Loiidon
NWI 3AN
Investment Advisers
Brewiii Dolphiii Limited
Tirne Ceiitral
3? Gallowgate
Newcastle Upon Tyiie
NEI 4SR
Approved by ordei- of the board of trustees on .............
and signed on its behalf by:
K J McLaugl)lin - Trustee
Page 3

Independent ExAminerl$ Report to the Trustees of
The Bllrkttt Seholarshlp Fund
Independent exanthier's report to the trustees of The Burldtt Sebolarshlp Fund
I report to the charlty trust¢es on my eXamI￿tion of the accounts of Th¢ Burkitt Scholarsl]ip Fund (th¢ TNst) for the
y¢ar ended 31 August 2024.
Responsibllities and basls of report
As th¢ charity trustees of the Trnst you are responsibl¢ for the preparation of the accounts in accordance with the
reqUI￿m¢nts of th¢ ChaTities Act 2011 (Ihe A¢fj.
I report in respect of my exan]ination of th¢ Trusvs accounts carried out under S¢¢tion 145 of the Act and in ¢anying out
my ￿aminatiOn I have followed all applicable Direction5 given by the Charity Commission under Section 145(5)Ib) of
the Act.
Independent examlner's statement
I hav¢ completed my examination. I confmn that no nydterial matters have Come to my att¢ntion in connection with th¢
exam1t￿tiOn giving me caus¢ to ￿lieve that in any mat¢rial r¢sp¢ct:
accountin8 r¢cord8 were not kept in respect of th¢ Trust as required by Section 130 of the Act. or
the accounts do not accord with those records; or
the accounts do not collwly with th¢ applicable requirements concerning the forni and content of accounts s¢t out
in the Charities (Accounts and Reports) R¢8ulations 2008 other than any requirement that the accounts give a
tru¢ and fair view which is not a matt¢r consid¢red as part of an ind¢p¢nd¢nt cxami￿tion.
I have no concerns and have come a￿053 no other matters in connection with the ¢xamination to which attention should
be drawn in this report in order to enable a prop¢r understanding of the accounts to be reached.
Gary Ellis BA BFP FCA
Clive Ow¢n LLP
CThartered Accountants
Kepler House
Belmont Business Park
Durham
DHI ITW
Date: .....
Page 4

The Burkitt Seholarshlp Fund
Statement of Finandal Activities
for the Year Ended 31 August 2024
2024
Total
funds
2023
Total
funds
Unrestricted
fund
R¢stri¢ted
fimds
Endowment
fi￿d
Notes
COME AND
ENDOWMENTS FROM
Investment in¢ome
51,037
51,037
50,872
EXPEIYDITURE ON
Raising funds
10,461
10,461
10,312
CbAritable Ydctlvltles
Provision of granls and
scholarships
14,500
14,500
30,884
Other
5,980
5,980
7,902
Tolal
20,480
10,461
30,941
49,098
Net gainsl0oss¢8) on
inv¢stments
148.795
148,795
(37.506)
NLT
INCOMEI(EXPENDTTURE)
Transfers betTrYeen funds
30.557
(30.557)
138,334
30,557
168,891
(35,732)
12
Net MOVeD￿llt in funds
168,891
168.891
(35,732)
RECONCILtATION OF
Total funds bn)ught forward
1,628,996
1,628,996
1.664,728
TOTAL FUNDS CARRIED
FORWARD
1,797,887
1,797,887
1,628,996
The notes forn] part of thes¢ financial statements
Pag¢ 5

Tlie Burkitt Scholarsbip Fund
Balance Sheet
31 August 2024
20?4
Total
funds
2023
Total
fiuids
Uitreslricled
fulld
Restricted
fiiiids
Endowm¢nt
fuLid
Notes
FIXED ASSETS
Inv&stmetLts
io
1.644,042
1,644.042
1,505,708
CURRENT ASSETS
Cash iii I1￿]d
5,640
157,185
162,825
159.488
CREDITORS
Ainounts falliÉig due witLiiii one
year
(5,640)
(3.340)
(8,980)
(36.200)
NET CURRENT ASSETS
153,845
153,845
123,288
TOTAL ASSETS LESS
CURtiENT LIABILITIES
1,797,887
1,797,887
1,628,996
I ET ASSETS
1.797,887
1,797.887
1.628.996
FUNDS
Endoivtiieiit thnds
12
.797.887
1.628,996
TOTAL FUNDS
l.797.887
1.6?8,996
The
Iicial statemeLlts ivere approved by the Board of Trustees and auihorised for Issu¢
aiid were signed oil its behalf by:
on
K J McLaughlin - Trustee
The iioles foi-ni parl ot Ihese fiiiaiicial slalemenrs
Page 6

The Burldtt Scholarship Fund
Notes to the Fln2ll¢ial Statements
for the Year EDded 31 August 2024
ACCOt]N]YNG POLICIES
Basis of preparing the financial statements
The fit)ancial stat¢ments of the clwity, which is a public benefit entity und¢r FRS 102, have be¢n prepared in
accordanee with the ChaTities SORP (FRS 102) 'Accounting and Reporting by Clwities: Statern￿t of
Recommended Prdctice applicable to charities preparing their accounts ill accordance with the Filla￿la]
Reporting Stsndard applicable in the UK and Republic of tr¢land {FRS 102) (effective l January 2019),,
Financial R¢porting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of
Ireland, and the Charities Act 2011. The financial stat¢m¢nts have been prq>ared under the historical cost
conv¢ntion, with the exception of investm¢nts whi¢h are includ¢d at market value, as modified by the revaluation
of certain assets.
Income
All income is recogoised in the Ststem¢nt of Financial Artiviti¢s once the Charity has entitlem¢nt to the fimds, it
is probabl¢ that the incom¢ will be received and th¢ amount can be m¢asured reliably.
Expendlture
Liabilities ar¢ r¢cognised as exp¢nditure as soon as there AS a legal OT constructive obligation conllnitting the
charlty to that exp¢nditure, it is probabl¢ that a transfer of econon)ic benefits will be required in settlement and
th¢ amouttt of the obligation can be measured reliably. Expenditur¢ is ac¢ounted for on an accruals basis and has
been classified under headings that ag￿gate all cost related to th¢ category. Where costs cannot be dit¢rtly
attn￿uted to particular headings they have been allocated to activities on a basis consistent with the use of
resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but
not accru¢d as expenditure.
Tax8tloD
The charity is exempt from tax on its charitsble activities.
Fund ac¢ounting
Unrestricted fimds can b¢ used in accordance with the charitsbl¢ objectives at the discretion of th¢ trustees.
Restrlcted funds can only be used for particular restricted purposes within th¢ objects of the tharity. Restrictions
aTise when specified by the donor or then funds are rais¢d for particular restri¢t¢d putposes.
Endowment funds are investtnents and casb forming th¢ residue of the estate of the Late Lt Col H G S Butkitt.
This Endowment Fund is increased by rea]ised gains on investment and capitalised Ancome in accordance with
the Will Trust Deed.
Further explanation of the nature and purpose of each fimd is included in the not¢s to the finan¢iai statements.
Investments
Investments in the Balance Sheet at the accounts date ar¢ stated at market value. Gains and 10ss¢s on disposal
and revaluation of investments are charged or credited to the Statement of Financial Activities.
Flnanci741 in5trnrnents
The charitable Company has financial assets and financial liabilities of a kind that qualify as basic financial
instnllnents. Basic fman¢ial instruments are initially recognised at transaction valu¢ and subsequ¢ntly measured
at their settl¢ment value.
Crltl¢*l aeeollntlng estimates and arer45 of judgement
Estimates and judgements are continually evaluated and are based on historical experience and other factors,
including expectstions of future events that are believed to be r¢asonable under the cirCUn￿nce$.
Critical accounting ¢stimates and assumptions:
Page 7
continued...

The Burkltt Scbolar5hip Fund
Notes to the Ffinancfial Ststements - eontlnued
for the Year Ended 31 August 2024
ACCOUNIING POLICIES - eontlnued
Critlcal &¢¢ounthig estIll￿t¢S and areas of judgement
The charity mak¢8 eStin￿teS and assumptions concerning the future. The resulting accounting ¢stimates and
assumptions will, by definition, seldom equal th¢ rela*d actual results. The estin￿te8 and assumptions that have
a significant risk of causing a mat¢rial adjustment to tbe carrying an￿Ullts of assets and liabiliti¢8 within the next
financial year are discussed below.
Critical areas of judgement..
Due to the non-¢omplex natur¢ of the charities operations and balance sheet, in th¢ opinion of the Irustees there
are no key judgem¢nts or estimation uncertainties that n¢¢d to be considered Th&L¢n preparing th¢ fllHicial
statem¢nts.
INVESTMENT INCOME
2024
2023
Dividends
51,037
50,872
All income receiv¢d during 2024 and 2023 was restricted.
RAISING FUNDS
Investment management Costs
2024
2023
Support costs
10,461
10,312
CHARITABLE A￿TIEs COSTS
fuDding of
activities
(See note 5)
Support
costs (see
note 6)
Totals
2023
Provision of ￿antS and scholarships
14.500
5,980
20,480
38,786
All Cxpenses incurred L1uring 2024 and 2023 r¢lated to restricted funds.
GRANTS PAYABLE
2024
2023
Provision of grants and scholarsbips
14,500
30,884
The total ￿allts paid to individuals during the year was as follows:
2024
2023
Burkitt Scholarships to Durham School
Burkitt Scholarsbips to Oxford and Cambridge
11,000
3.500
26,684
4,200
14,500
30,884
All grants payable during 2024 and 2023 were r¢stricted.
Page 8
continu¢d...

The Burldtt Sebolarship Fund
Notes to the Finan¢ial Statemellts- Continued
for the Year Ended 31 August 2024
SUPPORT COSTS
Governance
costs
Mallagem¢nt
Totals
2023
Oth¢r Tesources expended
4,000
1.980
5.980
7,902
All support costs payabl¢ during 2024 and 2023 were restricted.
Governancc costs relate to fees paid for th¢ independent examination of the accounts (2023: £3,902).
TRUSTEESI REMUNERATIOIY AND BENEFITS
There were no trust¢es' remuneration or other benefits for the year ended 31 August 2024 nor for the year ended
31 August 2023.
Tru5tees' expenses
There were no truste¢s' expenses paid for the year ended 31 August 2024 nor for th¢ year ended
31 August 2023.
COMPARATIVES FOR THE STATEMENf OF FINANCLIL ACTIVITIES
UDrestricted
Restricted
fund
fLmds
Endowment
fimd
Total
funds
INCOME AND ENDOWMENTS FROM
Inv¢stment income
50.872
50,872
EXPENDITURE ON
Raising funds
10,312
10,312
Charitable actI￿tIeS
Provision of grants and scholarships
30,884
30,884
Other
7,902
7,902
Total
38,786
10,312
49,098
N¢t gaitisloosses) on investments
(37,506)
(37,506)
NET tNCOMEI(EXPENDrruRE)
Transfers betsveen funds
12,086
(l2,086)
(47.818)
12,086
(35.732)
Iyet rnovement In funds
(35,732)
(35,732)
RECONCILIATION OF FUNDS
Total fun&8 brought forward
1.664,728
1,664.728
TOTAL FUNDS CARRIED FORWARD
1,628,996
1,628,996
Page 9
continucd...

The Burkitt Scholarshlp FuDd
Note5 to the Finantlal Stydtements - eonthiued
for the Year Ended 31 August 2024
EMPLOYEES AND DIRECTORS
The averag¢ number of employees during the current and prior y¢ar was Nil.
10. FIXED ASSET INVESTMENTS
Listed
investments
Unlisted
invesiments
Totals
MARKET VALUE
At I S¢ptember 2023
Additions
Revaluations
Disposals
1.498,560
111,246
146,508
(116,805)
7,148
1,505,708
111246
146,508
{119,420)
(2,615)
At 31 August 2024
1.639,509
4,533
1,644,042
NET BOOK VALUE
At 31 August 2024
1,639,509
4.533
1,644,042
At 31 August 2023
1,498,560
7,148
1,505,708
The portfolio is invested at 31 August 2024 as follows:
Valuation
Overseas bonds
UK Bonds
UK Equiti¢s
Cash awaiting investment
UK Prop¢rty investment
Overseas equities
110,250
177,995
366,225
40,797
60,721
888,054
1.644,042
IOOO/o
ii.
CREDITORS: AMOUNTS FALLING DUE wrrHIN OIYE YEAR
2024
2023
Trade ¢r¢ditors
Amounls due to relat¢d company
Accruals
840
5,640
2,500
33.700
2,500
8,980
36,200
Page 10
¢ontinued...

The Burkfitt Scholarship Fund
Notes to the Ffinanclal Statements - ¢onthiued
ffyr the Year Ellded 31 August 2024
12. MOVEMENT FUNDS
Net
movement
in fillLds
Transfers
between
funds
At
31.8.24
At 1.9.23
Restricted funds
Burkitt Scholarships to Durham School
Burkitt Scholarships to Oxford and
Cambridg¢
20.540
(20,540)
10,017
(10,017)
30,557
(30,557)
Endowment funds
EndownKnt Fund
1,628,996
138,334
30,557
1,797,887
TOTAL FUNDS
1,628,996
168,891
1,797,887
Net rnov¢ment in funds, jDclud¢d in the above are as follows:
Incoming
resources
Resources
¢xp¢nded
Gains and
losses
Movement
in funds
Restricted funds
Bud(itt Scholarships to Durham School
Bu￿Itt Scholarships to Oxford and
Cambridg¢
Management costs
31,540
(i 1.000)
20,540
13,517
5,980
(3,500)
(5,980)
10,017
51,037
(20,480)
30,557
Endoivment funds
Endowment Fund
(10,461)
148,795
l38.334
TOTAL FUNDS
51,037
(30,941)
148,795
168,891
Comparatlves for movement In funds
Net
movement
in fim&8
Transfers
b¢tween
funds
At
31.8.23
At 1.9.22
Restrl¢ted funds
Burkitt Scholarships to Durham School
Burkitt Scholarships to Oxford and
Cambridg¢
Martagement costs
(3.395)
3,395
(8,691)
12,086
8,691
(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
Pagell
continued...

The Burkitt Scholarshlp Fund
Notes to the Finaneial StateD)ents- ¢ontinued
for th¢ Year Ended 31 August 2024
12.
MOVEMENT Fi]NDS - continued
Comparative rnovement in funds. included in the above are as follows:
Incoming
resources
Resouwes
expended
Gain5 and
losses
Movement
in fimds
Restrlcted funds
Burkitt Scholarships to I)ud]am School
Burkitt Scholarships to Oxford and
Cambridge
Manag¢ment costs
30,079
(26,684)
3,395
12,891
7,902
(4200)
(7.902)
8,691
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)
Restricted funds
University awards are paid in advance in Septemb¢r 2023 in respect of academic year 2023124. If the incom¢ of
dtst year exceeds th¢ awards paid out, th¢n the unspent balance brougbt fonvard at the start of th¢ y¢ar is
capitalised as unspent in¢ome in accordance with th¢ provisions of the Trust Deed.
The purpose of ¢ach fimd is restricted to provide educational scholarships for pupils to attend Durham School or
Oxford and Cambridge universities.
Endowment funds
Income gen¢rated from investm¢nts and cash forniing Tesidue of the estate of the late Lt Col H G S Burkitt.
13.
RELATED PARTY DISCLOSURES
The Will T￿st Decd specifies that one Trust¢¢ is the Headmaster of DuTharn Cathedral School Foundatio
Durham Cathedral School Foundation charged £4,000 (2023: £4,000) in the year to The Burkitt Scholarship
Fund to cover secretsrial and administration costs and paid scholarships on behalf of the pupils totalling £14,500
(2023: £30,884). At 31 August 2024 the amount due to Durham Cath¢dral School Foundation was £5,640 (2023:
£33,700).
Page 12

The Burkltt Scholarship Fund
Detailed Statement of Flnanelal Aethddes
for the Year Ended 31 August 2024
2024
2023
INCOME AND ETSDOWMENTS
Investment Income
Dividends
51.037
50,872
Total incoming resources
51,037
50,872
EXPENDTtURE
Charltable actlvlties
Grants to individua]s
14,500
30,884
Support costs
Mydnagement
Administration charge and mark¢ting
Investment managem¢nt f¢¢
4,000
10.461
4,000
10,312
14,461
14,312
Governance costs
Independent examin¢rs fees
1,980
3,902
Total resources expend¢d
30,941
49,098
Net income before gains and losses
20,096
1,774
Gainsllosses
Gaillslaosse8) on fixed asset investm¢nts
148,795
(37,506)
Net ineome/(expendlture)
168,891
(35,732)
This page do¢s not forni part of the 8tatuti)ry financial statements
Page 13