RF.GisfERED CHARITI, NIINIBER: 518269 Report of ihe Trvstets •nd UMi¥dited Fin•D¢i•l Ststements for Iht I'e•r E4d¢d 31 2025 lor Tbt BuTkiit Schollrsbip Fund Clive Oisyn LLP cIrterCd Accountan15 140 Coiiis¢1i(fc Road DARLINGTON Co t)uthwii DL- 7RT
The Burkltt S¢knlrship Fund CDlltent5 of tbt Fimntial Ststements for the Yer Ended 31 2025 Pate Report of the Trustees Independent ExmititVs Report StAtement of Fth•n¢i•l Adivities BA]Dce She¢t Notes to the Fiwntial St•temtsls 7 to 13 Detslled St¢em¢DI of FiAanebl Aetivhles 14
Th Burkiti Scknlar5knip Fnd Report of ihtTrustheJ ror tbe I'tr EThd 31 Augwt 21J25 The Trustees are pleased to preseni their r¢p(t togdher with the fina11 of ¢h¢ c114rity for the y¢ar ended 11 August 20?5. The finla1 ststements roinpl). wilh CUT Statutory requiremeM& th¢ Will of the Late Lt Col H G S Burkitt and Stateinei)t of Recomm¢nthd Pradice- Accoun¢ing and Rel1$ by Clwilies. OBJECTIVL8 AND AcrivrrAES ObJecii¥ts and Aims T1ie objective of ihe charity 1$ to provide edwational 5¢1KPtarships for pwiils ¢0 atte1 Durhom Cathedral Scljools Foundation and also to provide s¢lM)larthips to Old DuneImiai to atter¥J college at either Oxford or Cainbridge. The latter are 10 fviid ivork" at the University. for de8rtts or for travel abroad in cont>ection tOUFSC of dY or postgraduwe r¢searcli. A wav¢1 scholarsliip may be awarikd to a r¢s¢artli studait in addition to a nonnal scholarship. The investnient poli¢y of the ¢hariry ¢ontinves io b¢ carried oui on the b#5is of balanced moderate risk and %¥iili a balanre of ¢mplwis oli Ii)ng-t¢rni g¢neraliDn iyitli captt81 mainten¢¢ and growth r¢qu¢5t¢d during ilie year ended.? I Au8uM 202S. The me&surementof w[ormate wll be against recognised behnlrks. Public B¢Defi¢ The charity'g aims aThJ achievements are Set out 1n this rerAXt The gciivities S¢E Out iii this re1 httve been ndertaken lo filrther the chgrity'$ ch8titabJe WLiposes for the publir benefil. The truslees have complied with the du¢), nder Section 4 of the Charities Act 2011 tts have due Fegard to publi¢ bejiefil gutdance published b) Ihc ChRrily Commission and the trustees have paid due regard to 8]dance in deciding what activities the chariiy should undertake. At Tnhstee Meetings en planuing ihc xtivity of the charity keep i) rnind the Charity Coinmission guidance relatin8 to Public Benrfit. ACHIEVEMENTS AND PERFORMANCE ChariiYLble activities At the summer terni in¢elin8 lh¢ tr1$ re¢¢1, ¢onsider and approve a list ofrccornrnet¥Jcd recipients of ardS for the followiiig athic year. In ihe year 10 31 Augusi 2025 six menibets of Upper Vl and six of Lower VI Teceived varying amounts. There were four 8rdS of £700 wliicli Tre graiited and paid w Old ihmelmians of Durham C*hedral Schools Foulallon atte]iding collegc ai Oxford or Cainbridge during t1 period. The portfolio yiehled £54.4.-15 of iiive51inent iiiwm¢ durin8 th¢ y¢¥r, wlii¢h was a higkn level of iRcoine con]pared to t7 prior Year of £51.037. Pa¥c I
The Burkitt ScholTship F4ttd R¢port of the TnlIeS for Ihe Yer Endeil 31 202S FINANCIAL REVIEW The accounts haye been preJ>ared for a twelve-month period to 31 Aug 205. The income for the year eTrabled the trusiees to meet all commitments for cxp¢nses and 8rnnts in accordance with the Will. The inVement portfolio of the Endomryl Fund is under thice by Sto¢kbrnkers with investment in both the UK and in other 8lobal markets. The investment Wfom)a¢ was lost discussed at the truses meeting on 15 jul 2026. Thc trustees we pkosed wth the 8ener81 perfoTmaN¢e of the wjrtfolio. The tnjsttts are advised thai ihe portfolio is diver5ifRd a¢mss se¢lors wlTKi¢rtly to pr¢¢1 li agaiitst flu¢wa(ions in individual serturs. R¢servtt pollcy IIK Trustees aini to PSer the le1 of r¢sery¢s, g) that a reasonabk IEvel of ItMe is gerthd to award Burkitt kholaYship5 botl) now and into ihe fuhwe. At 31 Av8USt 2025 k)tal rtscrves were £l.878.475 1¢h is sufficient io ensure a reasonable level of winual income is gertcratcd from irtvesth Iield. The trugtees have dirfftion from the Will to rctention of in¢om¢ reserv¢s. Th¢ Will Specifies that any inrome not sp¢nl shall be investcd and added the Capiral Fund. The trustees feel th%t thr Capitsl Fund is well placed to provide a enduring flow of in¢om¢. Rijkg pollcy Thc trusiees periodically review the rnaior risks to whirh the ¢lJarity might be eX[sed a[ $YeMS or procedwes have been established to nllge thos¢ rth. FUTURE PLANS The tnjstees believe that thc #ssei allocation within the w>rtfolio is very rnuch in kcEping with the fund obj¢ctiv¢s of income and growth within a rtw)d¢T risk profik. and tlry ar¢ planning kn chwige the overall "shape" of the portfolio ui the near fijture. The fund is expect¢d to >'ield gr05s Income a similar level of in¢onY in ?025,'26 compared to 2024125. This will cover the grnnts and scl)latships ihat ih¢ trustees have 8wdrdcd. STRvcfuRE, GOVERNANCE AND MANAGEMENT Governlng document The Burkitt Scholhrship Fund is ¢onuituted by the Wkll Trust of the La Li Col H G S BuTK'itt aiid is a regi5t¢rd clmrity and as such are required to PTeparc finaKial stsments for ¢a¢h fina]¥1 year. wthich giv¢ 3 twue and fair view of the state of affair5 of ihe ¢hariry and of its finala1 results for thai year. To fulfil their rt4uirements. as set out in thc Statemthi of Trtsstres ReSpolblitle tlie In¢% Tnttt twice yearly, and the investment rrfOllo is reviewed every halfrvear. Any training requirements that are highlighied by individual irusl¢es ate organised pron]wly. and pvision will continue be Lnade for an approwiate induction pwogramme fDr any new Irusttts. The trusiees ContiM to providc financial supm IA accordance with the objects set out bclow. The trust¢¢5 are concerN¢d to ensure that all opwrtuniiies Jre tsken to bMadCa the existeie of ihe berIts of the trust 50 tlut tlw are made known io des¢rving pupi15 arxl students wherever pDssible The trusi¢¢s will also assess any oPrtUnrt1e% ithirh inay be of beiKfii the chwity. REFERENCE AND ADMINISTRATIVE DrAI[s Registered Charity number 518209 Pag¢ 2
The Burkitt SehDlar5hip Fund Rert of the Trustees for th¢ Trexr Eoded 31 Augw8t 2025 Principal •ddr¢ss C'o Durham Cathedral Schools foundaiioj) The Grove Quarryh¢ad$ Lane DILrhain DHI 4SZ Trnstees The tTUSIttS BPPLlillted by the Will of the late Lt Col H G S Burkilt aci as trnst¢¢s of Ihe Burkiff Scholarship Fund. The charity trustee5 durin8 the year to ) l August ?025 ¢.. kj McLaughlin SPJ Dobson Dtsrhim h0o1 Local Commuiiiiy Trustees compris¢ on¢ person Th)Jninaied by t1 Gov¢nKJrs of Durham SclxKIl, and one person nominaled to repre5¢n¢ Ilie lo¢al co1MUnIty. neitherof wlw)m receives renwiTreration. Indtpendtht Ex*mintr Manin Hobson BA IHons) FCCA Clive Owen LLP Chaitered A¢nrtts 140 Coniscliffe Road DARLtNGTON Co Durliam DL3 7RT B8Thkers Cater Allen Triton Square Regent's Pla¢e London NWI IAN Investment Advisers Brewin Dolphin Limited Time Ceiilral 32 Galloiv82te Newcastle Upon Tyne NEI 4SR Approved by order of the board of tru5ttts on 15 June 20?6 and signed on its behalf by.. spj - Trustee 1>98e J
Indep¢nd¢Dt Eiminer'5 RepDrt lo tbt Tro•ttts of The Burlkitt &hol•rsbip Fund Independent o¥afftiner's report fo the trte5 of The Burkitt S¢holrsbip Fnnd I reporf to the Chlty trusttts on my examination of the ac4xbunts of The Burkitt SclK)1orthip Fund (the Tryst) for th¢ year ended i l August 2025. Re4)(nsibilitl¢J IDd basis of report A$ the char5ty tr$1¢¢$ of the Tr51 you are rtsyy)]bible for the preparion of the COUnts in ccordan¢e wilh the requirements of the ChaTjties 2011 ('th¢ A¢V). I report iii rtsp¢ct of my eYamin8tion of the Tnjsfs a¢nts carried out under Section 145 of the Aci and in ¢anying our my eKaniination I have followed all applicable Directions given by ih¢ (hriry Commissioii under Section 14515Mbl of the Act. l)Mkpendent examillr'$ stx¢¢nent I have compled my examin10. l ¢Thifirni that rnaterial haye Come to my att¢niion in coni)¢Cti1 willi th¢ cxamiiiaiiot) giving me cause to believe thai in any m*rial respect.. aceountllig records were kept in ttspect of the Tn( as requir by Section 130 of th¢ A¢4 or Ilie a¢¢ounts do fK)t xcord with those records: of the aecounts do noi comply with the applicable requirements a)ncerning the fomi and eoi)teThtof accounts set out in lh¢ Charities {ACCots Reporfsl Regulations 2008 other thèn any requirement ihai th¢ Kcounts give tnre arbj fair view which is Dot a Matter considered p•ft of an indet examillatio I have no ¢on¢ems and have come across other Mati¢ in ¢onn¢rtion with the exlmintttion to whKh attention sknuld be dr in this rewjrt in OTder ¢0 enable a woper understanding of the xcounts to be rtached. Marfin Hobson BA (Hons) FCCA Clive (h%n LLP Chartered Accountants 140 Coiiiscliffe Road. DARLINGfoN Co Durham DL3 7RT 1 S June 26 IW4
"rhe Burkiit st1hAP FTr temeDt of Fin•nti•l Aetivltiej for ihe l'ear Ended 31 Amgust 2025 ?024 Toial fuiid5 Unrestricted fiind RerI¢l¢d fiuids Endowmen¢ fu1 Totsl fund5 Noi¢s INCOME AND ENDOWMENTS FROM Invcstiment IJ0¢ 51.037 EXPENDITURE ON Raising funds 10.976 10.Y16 10.461 Chgrlt#ble i¢¢ivili*s Provisiijn of sraEiiS and scliolarships 14.800 14,800 14,5110 Other 6.100 6.100 5,980 Total 20.gIM) 10.976 31.876 30.941 Net gain5 on invmentS 58.029 148.795 NET IT¥COME 33.535 (i3.515) 47,05i .13.535 80,588 168,891 TnD5fers betw'een fun 12 N¢¢ movtnKnt ill fuMIs 80.588 80.588 168,891 RECONCILIATJON OF FUNDS Tolal funds broughi fonvard 1.797.887 1,797,887 1,628,996 TOTAL FUNDS CARRIED FORWARD -878.475 1.878,475 ,797.887 Tl)c noles liwm pjn of these lillèiicial siaiements
Tthe Burkiti Seknl•r5hip Fuwd Sbe 31 August 2•25 20?5 Total funds ?024 Total fund5 Unrcstrid¢d fund Restricted Endowmeni fuJMI FIXED ASSETS Ii)v¢stmeiits io 1.691,655 1.691.655 1.644,042 CURRENT ASSE15 Cash in hand 27JlO 189,320 216.7 162.825 CREDITORS Amolts falling due within on¢ yeAr (27.380) (2,500} 129,8801 (8,980) NET CURRKIYT A&SKTS 186.820 186,820 153,845 TOTAL ASSETS LESS CURR&iYf LIABIIATIES l J78.475 1.878.475 1.797.887 NET ASSETS 1.878.475 1.878.475 1,797.887 FUIYDS Endowment funds 12 1.878,475 1.797,887 TOTAL FUNDS 1,878,475 1.797.887 The fLnan¢ial stat¢mMts ThrT¢ ¥PPTov¢d by the Boanl of Trwtees and autknrised for issue on 15 June 2026 and w¢r¢ Si8Ded (trn its behalf by: JDO - Trustee Th¢ IKbies forni parl of thrse finan¢ial siatemtiits Pa.we 6
The Burkilt Srholxr5hip Fiind Notes its the FJnAnri81 SOtemts for the I'e•r Ended 31 Aury¥t 2025 ACCOUNTING POLICIES Bxsi5 of preparing ihe fiThaThcixl ststothethts The fInala1 stai¢meiiis ot. The ¢hari¢y. which is a public beJkfLi eniity under FRS 10? have b¢en pr¢paied in accordance with ilK Charlties SORP IFRS 10?) 'A¢cowilino and Reporring by Charilies: Statemeiit of Recommended PM¢ti¢e applicable to ¢harities preparing their aecounts in accordance with tjx Fiiiancial Rew)rting Sifiiidard applitable in the UK and R¢publi¢ of Irclid IFRS 1021 l¢ff¢¢tive l Jaiiuary ?019)', Financial Rqx)rting Standard 10? Tr Fina Rwrtins Standard appli¢able in Ihe UK and Republic of Irelaiid, and ihe Gharities Ad 2011. Thc fJnarKial statern•its have breii prepared und¢r Ille hisioiical cost onvei)tion. witli the excepti) of iijvesiinwits which included at Inark"et value, as IT¥)difi¢d by revalualion of certain 8ssets. Income All income is re¢ognised rn the Ststemeni of FinarKial Adiviiies oi)ce the ¢lrity, h8s eniitlemeiil to thr funds, Lt is probable that the iiicome will be ¢¢I¥¢d a1 die 8rn0UlIt can be measured reliab]y. Expenditure Liabilities are recognised a5 expenditure as soon as thcre 15 a legal or cottstnKtive obligatioii eominitting tile chariry io thal expenditure. it is probable th81 & iransfer of ecork)inic benefits Mill be qUired in settlemeiii Ihe amount of the obligation can be meaSUd ffliably. Expenditure is accouiittd for on ai) ac¢rua15 basis aiid has been classified under headings ihal aggrrgate all cost relaied io I1 ¢agory. Where costs cannot be dire¢ily attributed to particular heing5 th¢y have been alkncatcd to Ktivitie5 on a basis wnsistenr with use of resources. Grants offered subject fo WKli¢ions which have been nTret at the year date are noted as a eornmitmeni bui not accrued as expcnditurc. Smpport Cosis The costs of the prepamion and exami1110n of statutory xcounts the ¢osts of trustce tneeting5 and cost of anv legal advice to Irustccs on >vcrnance or ¢onsiiiutional mailers are ineluded in the SOFA as support costs. Allocation lpportionmeni of $t5 Support costs direcily atttibutsbk to an activity hJve bttn alhxated to th81 aciivity. Where support costs cannoi be diieetly allributtd to aiiy aetivity Ihty have been alkKaied in prOrtIon to dire¢1 exp¢nditlJTe. TxtiD Th¢ charity is exempt from tax on its charitabje activilies. UnreslTjCted funds can be used in accorda1e wlth tlK ¢hani8bl¢ objeciives at the discretion of t[ truses. Resi¥ic¢ed fuiids Can TrIy be used for particular restnffled PUTP05¢5 TrAithin tlie objec15 of the ¢hariiy. Restrictions arise ivheji specifi¢d by ihe doJw)ror when fund5 are raised tor particular r¢5tricted purpose5. Eiidoi¥men¢ funds are inv¢stinents and cash fomiing iht rtsidue of The esiate of ihe L21e Lt Col H G S Biirkitt. This Endownieni Fund Is in¢r¢ased by realised gains on InveIllen1 and iipit81is¢d income in accordaiice witli the Will Tnsi Deeil. Fiffther explanation ofthe nature aild purwse ofea¢h is included in the nol¢s to Tk fthanciaj 5taienienis. liii'e51meTrts Invcslments in the Balance Sheei at ihe accounts dai¢ are al¢d ai ntsrket value. GairL8 and losses on disposal Thd revaluation of iiivestln¢llts 3fL rhargtd or itediicd lo ihc StalennI of Fiiiancilll ActivTrlies. The Charit ha5 finaiicidl assets aiid litlall¢l411 liabiliiic5 (Trfa kind thai qiialifi as iYdSi¢ fJiianc¥al iiislTunienls. Ba51C rii)aricial ii15trun)enlS are iniiiall) rtC0bTlll.d ai Irdtisa¢tlDll ilIV¥ li1 sub5Lyueiitly ineasur¢d al Ihcir 5eiilLn)enl value. Pa¥¢ 7 coniinue(l.
Tknt Burkitt Sehol•rship F¥nd Nolu ¢0 th¢ FJn•Dtknl SftsnDts- contin1 for tbe Yer Emded 31 2•25 ACCOUNfiNC POLICIES- tontind Critical Aecouniiwjg ¢s¢imAtes rus of jlldgemellt Estimates judgemwits are continually evlluaied w)d are based on hiSri1 experience aiid oiher fa¢ior& includin8 expectations of future events that are believed to be reasonabl¢ under the cir(unlancc$. Critical accouniing estimates and assumpti(- Th¢ charity makes estimaies and assumptions ¢oth¢¢rning th¢ fith]re. The resulti acCoting cslimaies aThl è5sumpiions will. by dcfiniiion. s¢ldom equal the rejated a¢nwl results. Thr CSiimaie$ ab)d assumption$ that Iwe signifi¢aTh¢ risk of cau5in8 a mat¢rial adjstrtt to the CArrying amounts of assets and liabilities wiihin the ii¢xt financial year are discussed below. Critical areas ofjudgement: Du¢ to the n-coMpleX naNre of the Charit5 opeTAlions gnd balance 5heeL in the opiiiion of the trceS tlierc are iio key jyd8anents or estim10 un¢¢naintie5 that necd to be considered wlien preparing tlie fiiw¢ial StatennIs. INVESTMENf INCOME 2025 20?4 Dividends 54.435 51,037 All kneome received during 2025 a1 2024 f¢slricd. RAISING FUNIXS Investment mMagemtnt costs 2025 Support ¢oMs 10.976 10.461 CHARfTABLE ACTIVITIES Costs GM rundingof activitrt5 IS¢e Tho1¢ 5) 0515 Ixe ote 61 Totsls 20?4 ProVn of $r4nlS lahRp5 14,61XI 6.ILKI 20.900 20,48Q All expens¢s incurred durin8 2025 and ?024 related io restricted fiind* P8ge I onliniied.
The Bllrkilt Schoknrship Fund Noies ¢0 the Finathci*l Staternenis- coDlinlled ror tbe Eth31 August 2025 GRANTS PAI'ABLE 20?4 Provision of grdnts ?nd scholarshsps 14.800 14,500 The tri¢al gtanis paid to individuab durinB ihe year was a5 folk)ws'. 2025 1024 BurkTrit S¢lw)iarship$ Durharn SCI1 Burkitt Scholar511ips to Oyford wjd Cambridgc 12.000 11.000 -1,500 14,800 14.500 All grants payable during 20?5 and 20?4 iverc re5tricied. SUPPORT COSTS Managem1 costs Totals 2024 Other re501Lrces VAP)ded 2.1 6.100 5,980 All 54iPPOrt f05ts payable durin8 ?0?5 and 20?4 wue restricted. Governae ¢osts relate to fees paid th¢ I•d¢1 &xaniination of the a¢coyiiis (20?4". £1.980I. TRUSTEES. REMUIYERATION AND BENEFITS There were no trustees. r¢muneNion or other bertfiis for thc year ended 31 Augu51 ry025 rior fw tlie year ¢nd¢d 31 August 2024. Trw(e, expenses Tliere wcre no 3 l AugLW 2024. Iruste¢s' expenses paid for the year e 11 Augll 2025 nor for the year ended COMPARATIVFS FOR THE 5rATEIEr OF FINANCIAL ACTIVITIES un[ErIcted Restrirt¢d fund Endowm¢iJt fund TotRI fiinds INCOME AND ENDOWfvIEKI8 FROM Iiiv¢sinr iiicothe 51.017 51.037 EXPF.NDITURE ON Raising ful$ 10.461 10.461 Ch%ritHble actiyities Pr()vision oFgirniiis and 5¢ho18r5hip5 14.500 14.iOO 5.980 5.980 Total 10.461 Page 9 coniiniie(l..
Th¢ Bwr15itt Stbolar5hip Fu .Yotes io ti FAn¢iAI Stst¢JDeDts- elMbtitt•ed for the Yar 31 Aueust 2025 COMPARATIVES FOR THE sTATEM£Tr OF FINANCIAL AcfiviTIES- cotin¥ed UTrrc5tri¢ted RestrActtd Endo}1¢1 nd ffijnds fund Toi81 funds Net gains on inveslments 148.795 148.795 NET INCOM Trnnsfers betweeN funds 30557 (30.557) 138.334 30,557 168,891 Net movewent ID IndS 168.891 168,891 RECONCILIATIOP4 OF FLINDS Totyl fuhvjs broiighi fonyard 1.628.996 1.628.996 T(YfAL FUNDS CARRIED FORWARD 1.797.887 1.797.887 EMPLOYELS AND DIRECTORS The ov¢r¥ge numberof ¢nwioy¢es durin8 th¢ curmrt &ThJ prior year Nil. io. FIXED A&SET IP4vESTMEfTs Listed UDlisred investinents MARKET VALUE At I September 7024 Addittons Rev81170ns Di5posal$ 1.639,509 4.533 4,657 1.644,042 225,864 58.099 (236,280} 67.877 1246.128) At 31 Aug 2025 1.682.465 9,1 1,691,655 NET BOOK VALUE AI 31 Au8lLSt ?025 1.682.465 9,190 1.691.65S. Ai 31 August ?024 1,639.509 4,533 1.644,042 The portfolio is invesied at i l AUgt ?(V25 as follo Viluation UK Bonds Oversea$ Bonds UK Eqiiities Nortl) 8merican Eqliities Europeaii EjLlitie$ Jup3nese Equities Developed Asia ex Jopan Equhties Emeigiii(v Mark'ei Equities Global InvestnKnts Absolule R¢nJni 10?,005 176.601 i09,707 603,162 84.387 50,872 98.141 16,698 66.54) 40.90? 4.99° o.i)w. Pate 10 contiiiued...
The Burkiii SclwlArship Fiind Notes to tht Fin*nci•l StsttJnents- ¢onliDued for the l'ear Ended 31 Ag&t 21125 10. FIXED ASSET INI.'EStMEiYfs- continued Property Commodities her Invesiments Cath Product C8sh 54.164 2.730/0 11.55? ?1,616 9.191 1.280/• 1.691.6$5 loo% CREDITORS: AMOIINTS FALLING DUE WITHIN ONE IEAR 2095 2024 Trade creditor5 Ainounis due io relai¢d cornpany Accruals 840 ?7.380 2.500 ?9.880 8,980 12. MOVEMENT FUNDS Trdnsf¢r5 movemenl in funds Ai 31.8.25 At 1.9.24 fuiid5 Restritted Burkilt Scholarthips ro Durham khool Burkitt Scholatships to Oxford and Cainbridge 21.835 (21,835) 11,700 (11,70QI 33.535 li3.535) EndowHbtnt funds El1dm¢nt Fund 1.797.887 47.053 33.535 1.878.475 TOTAL FUP4DS .797.887 80.588 1.878.475 Nei rTh)veffienl in funds. included in (he a¥¢ are as folloiys: Incoming Resources expended Gains losses Mov¢in¢nt in fiinds Rt5tric¢td fund5 Burkitt Scholjrships io Duln S¢kni Biirkitt Scliolarthips to Oxfor(l and Cainbridee Management costs R3.835 21.835 14.500 6.100 I:.3) 16.1001 11.700 54.434 120.9001 Eiidowment funds Endowineiii Fund 110.976) $8.0:9 47.05.1 TOTAL FUNDS 131.876) 58.0.9 80.588
The Bwrt4i¢t ScholThbip Fund N•its to the FID11] Slt¢meDls- eoDlinued for the EIed 31 Awst 2025 12. MOVEMENT IN FUNDS- coM¢in¢d Comparnlives for movtmeDt ID fwids Net movemenl in rid$ Transfers betwten fun Al 31.8.24 Ai 1.9.23 Re5tTiettd funds Burkitt Scholarships to Durham Sc1Kl Burkiil Scholarships to Oxford Ind Cambridge 20.540 120.540) 10.017 110.017) 30.557 (30.557) El01¥m¢nI FWMI 1.628.996 138J34 30,557 1.797.887 TOTAL FUNDS 1.628.996 168,891 1.797,887 CompaNive net nKJvement in funds. In¢led in ihe aknve are a5 follows: Incoming U¢$ Gains Y41 losses Movement ITh funds cxpended Restricted funds Burkitt S¢holaTships to Dutrtham SclKJol Burkilt Scholarships ¢0 Oxford Cambridge 31,540 (I 1.000) fj0.540 13.517 5.980 (3.5) (5,9801 10.017 cosis 51.037 (20.480) 30.557 ndowrneTrt fuods Endoivment Fund (10.461) 148.795 138,J34 TOTAL FUNDS 51.037 (30.941) 148.79$ 168,891 Restrictod fThd$ University aivards are paid in advancc in September 20*4 In respect of academic year ?024,.'25. If the iiieome of Ihat year exceeds ihe awaftls pa oul, Ih¢n the wispeTht balon¢e bToughi fornvard at tlie Start of the year is apitèlised as unspmi income in ats"ordart wilh the ptovisions ofthe Tn Deed. The piwpose of each 15 restrided io provide ¢du(loal srlM)larships for pupils lo atte1 Durharn SclM)ol or Oxford and Cambridge iinivetsilies. EndowTheNt fuudg In¢ome generated from inv¢stments wid cash forming residue of the e5tat¢ of the late Lt Col H G S Burkiti.
Th¢ Burkilt SCIlrship Fnd Nv¢e5 lo tht FinnciAI Stste]nents- roniinued for the l'ear Ended 31 AuEUSt 21125 RELATED PARTr. DISCLOSIIRES The Will Tru$1 Deed specifie5 thal oi]e TrLL41ee is tl]e HeadmJsi¢r of Dutham Cathedrzl Scliool Foundation. Durliam Cathedral SclM)ol Foundation charged £4,1)iKI 12024.. £4.000) in the year io The Burkiii S¢holarsliip Ful cover secretarial and adrnini5traiion co$ and paid schol815hips on behalf of the pupi15 toialling £14,800 (?024.. £14.-5001. At 3 1 Au8USt 20fj5 the amouni due lo Durham Cathedrdl sc1Kl Foundation i¥as £?7.180 (20?4- £5.640). Pale li
The Burkitt S¢holryhip FuAd D¢tiied Stleiiieiit Dr¢11 Aetivities for the I'ur Ended 31 August 21125 ?025 2024 INCOME AND ENDOWMENTS . , Inves¢m¢nt intome Dividends 54.435 51.037 Total incomiDE reurees 54.435 51,037 EXPENDITURE Chsritgble 8ethliies Grniits individual$ 14.800 14.500 Support eosts M#Dagement Adn)inistra¢ion ¢hwge and marketing Inve5tfftellt mawent fee 4.000 10.976 4.000 10.461 14.976 14.461 Governinee tt15ts Independeni examiners fees 2.100 1.980 Total resour¢¢s expended 31.876 30.941 N•t income before gxina Bd 1055es 22.559 20.096 CAinsllosses Gainslilosses) on fixed asset inveslmcnts 58.029 14¥,795 Net income 80,$88 168,891 This page tK)t fi)rrn part ot'the Statu1¥ linaiicial siateJnent$ Pa£e