ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED S APRIL 2024

ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
P*ge
Trust￿￿, Annual RepK)rt
IndeFa¢nt Examinerfs R¢FXKt
Statem¢nt of Fin8ncial Activitics
Balanc¢ Sheet
Schedule of Jnvestments and Incomc
Now to the Financial Statements
9-13

MARK W BURRELL'S CHARITY TRUST
TRUSTEESI ANNUAL REPORT
FOR THE YEAR ENDED S APRIL 2024
The Tn￿teeS are pleased to present their rep)rt together with the financial statemthts of the charity for the year ended 5 April
2024. The fmancia] statements have been prepa￿￿ in accordance with the aecounting p)li¢ies set out in the notes to the financial
statements and comply with the charity's governing documenL the Charities Act 2011 and Accounting and Rep)rting by
Charities: Statcment of Recommended Practice applicable to charities preparing their xcounts in accordance with the Financial
Reporting Stsndard applicabl¢ in the UK and Republic of Ireland published in octo￿ 2019.
Objectives and activities
The Trusttts may pay or apply the u[￿￿￿Ctrd capitsl and inLX)me of th¢ Charity to or for such charitable instituti0Th5 or purposes
as the Trustees in their absolutc discretion think fiL
The Trustees carry out these objective5 by r¢gularly considering appeals from Oth￿ ch￿ltieS and making ￿l1¢Y and funding
decisions.
Public Bentfft
The Trustees conf]Tm that they have ￿mplIed with the duty in section 17 of th¢ CEwities Act 2011 and have r¢f¢Tred to the
guidan¢¢ ￿ntained in the Ch￿lty Commission's gen￿1 guidance on publi¢ benefit when ￿VieWing the Charity's aims and
Objectiv￿ and in planning activities and setting th¢ donations w)licy for the year. The benefit that arises is the provision
of fimding to organisations that dwnonstrkn charilable puTws
Achievememts and perforniance
During the year the Trustees made grants totalling £34.600 [2023: £30.1(M)l in fiwtherance of their objectives and continu¢ to
make grants to ¢haritsble organisations Eoth on a one-off and recutring basis. The larger grants awarded during the year are
stated in the note8 to the fmancial ststetnents.
The Trusttts are pl￿ed with the Prog￿$9 made in the financial year ended 5 April 2024 and look fonvard to expanding their
work with many other charities tn thc years to come.
Financial review
The Trustees reccived £26.183 in investment income in the current year [2023: £14.502] and the Tru*tts have achieved their
intention of spending the income on ch8ritable activities.
Net outgoing resources for the year were £19,022 [2023: outgoing £24325]. In addition the Tr￿St realised a gain on investments
of £17,24012023: gain £13.323] and tnadc unrealised gain of £108.414 [2023: Ios5 £83.637]. Thc net incoming movcmcnt on
fund5 was £106.632 [2023: outgoing £94.639].
Invtttment policy
The Trustees havc irLstructed the Investment MaTJager thal the w)rtfolio is to be invested to produce a suitable mixture of income
in order that thc Icvel of grants may be maintained and capital growth to secure th¢ firture of the Clwity over the coming years.
Th¢ Trustecs ate confident that th¢ futurc income stream is sccu
The inveslment policy is monitored by regular invesiment re￿rts and meetings with th¢ Invesknent Marlager. A breakdown of
th¢ investtnents held during the financial year ended 5 April 2024 can be seen on page
Risk ManAgeme•t
The major risks to whi¢h the Charity is exp)sed have Ixen Identified and stws takn to mitigatr those risks.
The main risk to the Ch￿ity concerns the investments held. The Tn￿ have mitigated this risk by engaging Cazenove Capital
to monage the investments and monitor the w)rtfolio aThl fmancial risks to the Charity. The Tr￿￿tees regularly review the
valuation of tnvesttncnts and the income stream generateiL
The Trustees have satisfied themselves that the tn￿ is a going ￿nCern and has adequate resowces to continue in operational
existencc for the foreseeable fvture. The charitable activities are funded by the investsnent p)rtfo]io and although Covid-19 did
havc a negative impart on this. the portfolio has T¢wv¢r¢d with sufficient value to SUp￿)rt continued grant makit

MARK W BURRELL'S CHARITY TRUST
TRUSTEES, ANNUAL REPORT
FOR THE YEAR ENDED S APRIL 2024
Reserves policy
It is the intention of thc TnWttS to sustain the unrestricted fun(L% at a level which will provide sufficient funds for the level of
At the Balance Sheet date the unT&%tricted rcservu amounted kn £1.554,164.
Fllthre Plans
The Trustees do not envjsage any tnateri81 changc to the 0￿ratIOn of the Charity in the long-terni and the investments will
continue to be managed on a similar basis as thcy are now. Notwitkstsnding thi4 the Trust¢e5 remain fl￿&ble in tern15 of the
type of organisations they supp)rL
Structur4 governance *Dd m8nAgemMt
The Tru8t has charitable status aTrJ was s¢t up by Mr M W Burrell by De¢d dated 20 May 1988.
The management of the Charity is vuted ill the Tn￿¢¢$ and they artively review th¢ perceived maj(r risks whi¢h the Ch￿lty
fa￿S and the Trustees ar¢ satisfied that the systems are in place to mitigate those risks.
The Trnstees have Teceived appropriate briefing on their responsibiliti￿ under the law relating to charities and their duty to
ensure that their clwitable activities are for the public benefiL The appointment of new trustees is vested in the Settlor during hi5
life. The selection of ￿tUre trustees will have regard to thc skills, knowledge and experience needed for the effective
administration of the Charity. Induction and tiaining for t￿￿eeS is provided where reL￿anL
Referenc¢ and *dminigtratiYe infomatW)D
A registered Charity, registered with the Charity Cornmissione￿ for England and Wales &8 number 800018.
Principal Office:
4th Floor, 7 Swallow Street
London
WIB 4DE
The Tru5tCC5 are Cowdray Trust Limited and Mr M W Burrell.
The Dircctors of Cowdray TnL%t Limited aTC:
The Hon H M T Gibson (Chairrnan)
The Viscount Cow(tray
The Hon C A Pearson
The Hon P N Gibson
The Hon B C Gurdon
MrJRE Smith
Mr R C P Troughton (Retired 13 June 2024)
Ms S J Burr¢ll
Mr S J AtkinsorA
Mrs F A Rice
Mr M P Harris
Mr K Wright
Mrs C A Bullough (Appointed 30August 2024)

MARK W BURRELL'S CHARITY TRUST
TRUSTEES, ANNUAL REPORT
FOR THE YEAR ENDED S APRIL 2024
Reference and *dmiDiStrnth*t Inforn*tion (Cottthiue4)
Solicitots:
Cuw & Co LLP
33 QueenAnnc Strect
Lonthn
WIG9HY
Independfflt Examiner:
Harriet Sergeant
Martin and CompAny Auijit Limited
25 St Thom￿ Street
Wjnchester
Hampshir¢
S023 9HJ
Bonker:
Royal Bat)k of Scotland
119- 121 Victoria Strect
London
SWIE 6RA
Sthroder & Co
l L4)ndon Wall Place
IA)ndon
EC2Y SAU
Investment M8n8ger.
Cazenove Capitsj
l London Wall Placc
nthn
EC2Y SAU

TRUSTEES, ANNUAL REPORT
FOR THE YL4R ENDED SAPRIL 21x24
The Trustees are resprrible for prewitig TnLSteeg Re[￿ and the financial ststeJrt￿ts in ac4))rdance wtth appli￿le law
and ￿gulation&
The law applicable to clwttte5 in England and Wales requires the trustces to fin￿￿la1 st41cmcDt5 for each financial year
accord8nLZ with United Kingdotn Ge4*JaIly Accepted Accounting Pl￿iCe (Unit&l Kingdom AcLX)unting Standards and
8ppiicabl¢ Tegulation5). Under that law the In5slees mu* approve the financi￿ ststements unless they are Wisfied they
give a true a￿1 fair ViV+V of the of affairn of the cjwity and of the in￿MI￿ and *pplic*ioD of re￿￿￿ of the
charity for that pttio
. ￿e£t suitable accounting policies w¥J thea than mithidy:
- obseThe the methods and prirKiples in the Ch￿ltieS SORPIFRS 102k
- make judgements and xxounling ¢5titDates that are reasotmble 8nd prudent.
. state whether applicable aeCOUDting stsndards Iwe IxeD follow•£ 5ubjectto any mtsial disclosoa and explained in
the financia] statements. and
The Trnslees are re4)onsible for kttping *Jequate accounting rec4)rds which are sufficiert to show &Ld explain the chartty's
ti￿￿tiOnS 8fMI dI￿lOSe with re￿Onthle ￿￿￿T8¢Y at any timc the financial FKtsilion of the tharity and a]able them to etLSLUE that
the financial ststements comply with the Charities Act 2011. the Charities (AeL¥)unts and Rep)rts) Regulations 2(J)8 and the
provision5 of the Tn￿ De￿. Thcy arc aJ80 rcspon5ibie for Safeguardi￿ the of the ¢barity lence for taking reawmable
Approved by the Trustees th]
23 October 2024 siwied on theirbdwlf by".
Mrm W Burrell

MARK W BURRELLIS CHARITY TRUST
INDEPENDENT EXANttNER'S REPORT
FOR THE YEAR ENDED 5 APRIL 2024
I repx)rt to the d)arity trustees on my examination of the financial statements of the ch&ity for the year ended 5 April 2024 which
are set out on pages &13.
Responsibilities aDd b*sis of report
As the CE￿Ity'S trustees you are reS￿lI5]ble for the preparation of the financial statements in accordance with the rcquirements of
the chariti￿ Act 2011 Cthe Act?.
I rewrt in Tespect of my cxaminaiion of the chariW5 financial statements wied out wlder serfion 145 of the Act and in c8rying
out my examination I have followed all the applicable directions given by th¢ Charity Commission under section 145(5)(b) of th¢
ArA.
Independent eyarniner's statement
I have completed my examination. I confirny that no matcrial matters have com¢ to my gttention in connection with th¢
examination giving m¢ cause to iKlieve that in any Ma￿laL respect:
accounting records were not k¢pt in respect of the charity as required by section 130 of the ACL or
the financial statements do not a¢¢ord with those recfjrd&' or
the financial statements th) noi comply M'ith the applicable requirements conc¢rning the fonn and Lx>ntenl of financial
statements Out in the Charitle5 {Accounts and Rep)rts) Regulwions ?￿8 other than any requiremeni that the financial
statements give a'true and fair view. which is not a mattcr considered ￿ part of an indepffldent examination.
I have no concerns and have com¢ across no other marters in ei)nnethon with the examination to which attention should be (hawn
in this reFrf)rt in order to enable a proper understanding of the financial statements to be rwhe(L
LA
Martin and Company Audit Limited
25 St Thomas Street
Winchester
Hampshir¢
S023 9HJ

MARK W BURRELL'S CHARITY TRUST
STATEMENT OF FINANCIALACTIVITIES
FOR THE YEAR ENDED 5 APRIL 2024
2024
2024
Total
nds
2023
Note
Unrtstricted
nds
Pritsr ytar
totsl funds
Income frnm:
Investments
26,183
26.183
14.502
Totsl
26,183
26.183
14,502
Expenditsre OA:
Raising funds
Ch8ritable activities
522
44.683
522
44.683
583
38,244
Total
45205
45.205
38,827
Net in¢omtJ(txpenditsre)
(J9,022)
(19.022)
(24.325)
Other reeoylsed gainsl(losseg):
Gainsl{losses) on investment assds
io
125.654
125,654
(70.314)
Net movement ID funds
106.632
106,632
(94.639)
RecoDciliatlo• of funds:
Total fiJnds brought forward
15
1,447.532
1.447,532
1,542.171
Total funds cmrried forward
,554.164
1.554,164
1,447,532

BALANCE SHEET
ASAT SAPRIL2024
Note
PriDr year
fijnds
.fuD
io
1517J67
,413.340
1.517.367
1.413.340
198
37,011
Cash at bank
41.939
41,939
37209
(5,142)
(3,017)
36.7Y7
34.192
154164
1,447.532
15
1.554.164
1.447.532
Totsl Cknrity Funds
1,554.164
1,447.532
Approved by the TTUSte¢s on
23 October 2024
and si￿1 on their behalf by:
Cowdny Th7st Llntted
Mr M W B•nTll

MARK W BURRELL'S CHARITY TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
ststutory InforniAtioM
Mark W Burrell's Charity Tn￿1 is a registered charlty. The registered number and principal office addre&8 can be found in
the Rep)rt of the TnL8tees'.
Aecomnting Policies
B￿lS of finantial ststsments pttparation
The financial statements of the chority,, which is a public benefit entity, have been prq>9red in aLxordance with the Charities
SORP IFRS 10?) 'Accountin8 and Rep)rtin8 by Charities: Statcmeni of Recomm¢nded Prartice applicable to chaTities
preparing their accounts in accordance i¥ith th¢ Finllncial R¢porting Standard appli￿le in the UK at¥J Republic of Ircland
IFRS I O?) (effcctive l January 2019),, the Financial Reporting Swidard applicabl¢ in the United kingdom and Republi¢ or
Ireland IFRS 102) and the Chariiics Act 2011. The financial sial¢ments have been prcpared under the historical wsl
nventio
Th¢ financial stat￿eftts have bc¢n prepared to give a 'true and fai￿ view and have departed from the Charitiu {AccounÉ5
and Ryrts) Regulations ?008 only to the extent required ￿ provide a 'In￿ and faiv view. This dwrture has involvcd
following Accounting and Reporting by Charilies preparing their accounts in accordance with the Financial Reporting
Standard 4)plicable in the UK and Republic of Ireland IFRS 102) issued in October ?019 rather than the Accounting and
Reporting bv Charities: Statem¢nl of Rccommended Prartic¢ effcctive from l April 21x15 which h&8 since been rcmovd.
The Trustees considu that there are material UnCer￿ticS aiM)Ut the TnLses ability to Lxintinue &s a going concern.
b)
N*ture of funds
All fjjnds held are unrestrithed and the Tn￿ are free io use them in a¢￿>[dance with the charitable objects.
Fixed ¥tsèt ltsvestm¢nts
Investh)ents are stated at maTkd vaiuc at the Balancc Sheet date. OVerS￿S invesilncnts are translated into sterling at the
rates ruling at the year end. The Statement of Financial Activities (SOFA) includcs the net gains and Iosscs on revaluation
and disposals throughout the yeaT.
d)
Ineo•e
Income is recognised in the SOFA once the charity hLs entitl¢ment to th¢ fill)d& it is probable that the incom¢ will be
r¢e£ived and the amount can be rn￿ured reliably.
Expenditur•
Liabilities we recognisd 85 expenditure as s(KTrn as there is a legal or wnstTu¢tive obligation Lxynmitting the charity to that
expenditure, it is probable that a transfer of ewnomic E¢nefits will be Tequired in sdtlement and the amount of the
obligation can be me&8ured reliably.
EX￿dIture is accounted for on an accruals b&8is and has been c1&8sified under headings that aggregate all L7)s¢s related to
that category. Where cosL8 caIinot be direcdy 8ttritKrt¢d to partic￿er headings. they have been alk)cated to activities on
basis Co￿81stent with the use of resources.
Charit*blt graDts
Grants payable are recognised in the SOFA when they are approv¢d by the TTWtees 8md th¢ Tecipient h&5 been inforn]¢d of
the amount ￿ be pai

NOTES TO THE FINANCIAL STATEMEIYTS
FOR THE YEAR ENDED 5 APRIL 2024
(Continued)
g)
Foreigh curren¢1
Trdnsactions denominatcd in a foTeign currency arc translated inti) sterling at the rate of exchange ruling at the date of the
transaction. At the Balancc Sheet date monetary a8scts and liabilities denominated in a forei￿ cumcy are translated at thc
rat¢ ruling at that datc. All exchangc differences are dealt with in the SOFA.
h)
Irrecov¢rable VAT
Irrecnverable VAT is written off to the same ¢xpense category in which the acts￿1 w￿]di￿]r¢ w&8 inGurr¢¢l
R¢mwDerglioD of Trustees
In the financial yw to 5 Aprtl 2024 the Tn]￿¢¢3 did not rettiv¢ any remun¢rntion or have their ¢Kpenses rcimbursed by the
Charity. Cowdrny TTUSt Limited charged administrntion expenses of £8.357 [2023: £7.362].
Invutmtllt ID¢ome
2024
2023
Inc4)me from investments
Gross bank interest
25.124
1.059
14,163
339
26.183
14.502
Expendltsre on rwing fllDds
2024
2023
Invcstsnent managcmerrt fees
522
583
522
583
Cbaritable activities
Dirert costs Support
{s¢¢ note 7) (stt note 8)
2024
Total
2023
Totsl
Ch8Jitsbl¢ ¢xpendittwe
34.6(Xl
10,083
44.683
38.244
Direct costs
The Charity undertTh)k no direct charitable activitie5 but awarded gT8nts to a number of institutions in fi￿th￿ce of its
charitable objectives. These are as follows:
Charities Aid Foundation
Christ's Hospital Foundation
Margaret Pyk¢ TnL8t
St Mary thc Virgin Churc14 Shipley
23,100
5,000
5.000
1.500
Totsl for the ye*r
34.600
10-

MARK W BURRELL'S CHARITYTRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
Icontinuedl
Direct tosts (Continued)
Anaty5is of grants made
Gr4Dts to
institutioDS
Grants to
individuals
Totsl
Advancement of religion
AdvaT)Gement of health or the saving of liv¢5
Any other charitable pwses
1.500
10,0
23,100
1,500
Jo.000
23.100
34.600
34,600
Support costs
2024
2023
Administration expen
Bank charges
Independent examination fees
Portfolio Sieward8hip fees
8J57
15
1,020
691
7,362
15
767
10.083
8,144
During the year administration eXt￿Ls¢S of £8.357 were charged by Cowdrdy Trust Limited (trustee). The omount of £800
plus VAT w&8 charged by Harriet Sergeant of DAartin and Company Audit Limited for her IndeF￿ndent Examination of thcse
Financial Statements.
Staff costs
There arc no employK8 so consquently ￿ staff costs havc be￿ incurrt
10 Fixed ￿Set investments
2024
2023
Market valu¢ brought for+V8
1.413.340
1.509,671
AdditioThs
9,987
Less disry>sal proceeds
(31,614)
(26,017)
Net gainO(10&8es) on invesiments
125.654
(70,314)
arket valuc wried forward
1,517,367
1,413.340
Geographical ￿n￿ys1$
2024
2023
United Kingdom investments
Oversw investtnents
1.514,723
1,403,057
10.283
1.517,367
1.413.340
11

MARK W BURRELL'S CHARITY TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
(Continued)
10 Fixed ￿￿et Investments (Contimued)
The investments were revalued each year up to 5 April 1999. Thercfore. there is tx) historic cost figure availabl& The bo()k
value of the inveslmcnts at 5 April 2024 was £779.142.
Net gainslOos5es) on inveslments includes realised gains for the year of £17,240 [2023: gain £13.323] and unTealised gains
on revaluation to market vaiuc of £108,414 [2023: loss £83.637].
D¢btors
2024
2023
Administration expenses
198
198
12 Cash *t bank
2024
2023
Royal Bank of Scotland
Schroder & Co
1,617
40.322
977
36.034
41,939
37,011
13 Credltors: Amounts falling d•e within one year
2024
2023
Athnini5trntion expenses
Payments due to charities
Portfolio St¢war(L8hip fees
Martin and Company Audit Limited
1,181
2,250
691
1.020
2250
767
5.142
3,017
14 Commitments made
An*ual v*lue
Number
of yeArs
Tot*1
No conditions attached:
Science Mu5eurn
2250
2,250
2250
IS Movement im fuDdg
2024
2023
Unrestricted fiujds:
Balance brought forward
Net movcment in funds
1.447.532
106,632
1,542.171
(94,639)
Balance Carri￿ foThvard
1.554.164
1.447.532
12-

MARK W BURRELL'S CHARTTY TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
{Continued)
IS Movement lth fllDds (Continued)
Net movement in funds included in the above are Is follows:
Gains And Movement
I0￿eS
in funds
IDtome
Out%oiRgs
Unrestri¢ted Fund$
?6.183
(45205)
125.654
106.632
16 R¢l8ted Party TrnllsActioDg
During the year Millbank Financial Services Limited ¢MFS') charged fees of £691 [2023: £767] for th¢ir Portfolio
stew￿dShip servic¢ and Cowdray Tnjst Limited charged thinistration expenses of £8.357 [2023: £7.3621. The Hon H M
T Gibson. The Hon C A P¢arson and Mr M P Harris (Directors of Cowdray Trust Limited) are Directors of MFS.
It should be noied that a sThi ling of The Hon H M T Gibso￿ the father of Mrs C A Bullough and the mother of Mr R C P
Troughton (Director of Cowdray Trust Limit￿) are Directors of MFS. namely The Hon W K Gibso￿ The Hon C A Pearson
and Mrs S H Troughton respectively.
Mr R C P Troughton retired &8 Diredor of Cowdray Trust Limited on 13 June 2024.
It slM)uld also be noted that Mr M W Bu￿ell (scttlor) is the father of Ms S J BurrelL a Director of Cowdray T￿st Limited.
13-