Scottish Charity No. SC028796
The Mixbury Trust
Trustees’ Report and Financial Statements For the year ended 5 April 2025
Innes & Partners Chartered Certified Accountants
: The Mixbury Trust
Contents of the Financial Statementsfor the year ended 5 April 2025
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|Report of the|Trustees|1-2|
|Report of the|Independent|Examiner|3|
|Receipts and|Payments|Account|4|
|Statement|of Balances|5|
|Notes|to the|Financial|Statements|6|
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The Mixbury Trust
Report of the Trustees for the year ended 5 April 2025
The Trustees are pleased to present their report together with the financial statements of the Trust for the year endéd § April 2025.
Status of Trust and Governing document
The Mixbury Trust is established by Constitution. The Trust is a registered Scottish Charity (No. SC028796).
Obj ¢ctives and activities
The Mixbury Trust provides a bursary at Stowe School, Buckingham for parents who want their son or daughter to be educated at Stowe and who are committed Christians, but whose financial position is such that this would not be possible without assistance.
Trustees and Office Bearers
The Trustees who served during the year are as set out below:
The day to day running of the Trust is the responsibility off
Appointment of Trustees
The Trustees are appointed by recommendation and the appointment is confirmed by the Trustees.
Achievements and performance
In relation to activities:
The main activity is the ownership of a managed investment portfolio which provides income by means of dividend or by sale of investments where additional funds are required to provide for the Stowe School bursary.
The previous candidate graduated from Stowe School during 2022 and within normal practice we have taken a break from supporting a new candidate to allow the funds to be replenished through our investment portfolio. We expected to have a new candidate for the start of the school year in September 2025 but due to no successful candidates being agreed we hope to have a successful candidate for the start of the school year in September 2026.
The Trust continues to maintain significant reserves, and the Trustees remain confident of the future of the Trust and of its ability to continue to support its charitable aims going forward.
In relation to funding:
Financial review
Principal sources offunding
The Trust receives its funding by way of investment dividends, sale of investments and donations.
Resultsfor the year
The financial statements for the year are set out in pages 4 to 6. The Receipts and Payments Account on page 4 reflects a surplus of £14,616 (2024: deficit of £4,529).
Reserves
It is the policy of the Trust to maintain unrestricted funds at a level which is sufficient to provide funds as required until such time as the capital has been used. The General fund and total reserves on page 5 at 5 April 2025 amounted to £24,149 (2024: £9,533) and investments at current value amounted to £421,793 (2024: £432,476) which the Trustees are satisfied with.
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The Mixbury Trust
Report of the Trusteesfor the year ended 5 April 2025
Reference and administrative details
Address
Signed on behalf ofthe Trustees by:
Dated: ... z: 2016
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The Mixbury Trust Report of the Independent Examiner to the Trustees for the year ended 5 April 2025
I report on the accounts of the Trust for the year ended 5 April 2025 which are set out on pages 4 to 6.
Respective responsibilities of Trustees and examiner
The Charity’s Trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The Trust Trustees consider that the audit requirement of Regulation 10(1) (d) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006 (as amended). An examination includes a review of the accounting records kept by the Trust and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeks explanations from the Trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent Examiner’s Statement
In the course of my examination, no matter has come to my attention
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which gives me reasonable cause to believe that in any material respect the requirements: e to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations (as amended), and
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e to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Accounts Regulations (as amended)
have not been met, or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Innes & Partners Limited Chartered Certified Accountants
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Innes & Partners
Chartarad Cartifind Anenuntante
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The Mixbury Trust
Receipts and Payments Accountfor the year ended 5 April 2025
| General | 2025 | 2024 | ||
|---|---|---|---|---|
| Notes | fund | Total | Total | |
| Receipts | £ | £ | £ | |
| Investment income | 14,146 | 14,146 | 15,654 | |
| Proceeds from sale ofinvestments | 93,309 | 93,309 | 181,599 | |
| Total receipts | 107,455 | 107,455 | 197,253 | |
| Payments | ||||
| Stowe school fees | 2 | - | - | . |
| Investment purchase | 85,615 | 85,615 | 196,790 | |
| Investment management costs | 5,376 | 5,376 | 4,926 | |
| Independent examination | 1,776 | 1,776 | - | |
| Professional fees | 72 | 72 | 66 | |
| Totalpayments | 92,839 | 92,839 | 201,782 | |
| Net increase /(decrease) in cash for the year | 14,616 | 14,616 | (4,529) | |
| Cash balance brought forward | 9,533 | 9,533 | 14,062 | |
| Cashbalancecarriedforward | 24,149 | 24,149 | 9,533 |
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The Mixbury Trust
Statement of Balances as at 5 April 2025
| Notes | 2025 | 2024 | ||||||
|---|---|---|---|---|---|---|---|---|
| £ | £ | £ | 2 | £ | £ | |||
| Opening | Surplus | Closing | Opening | (Deficit) | Closing | |||
| balance | foryear | balance | balance | foryear | balance | |||
| Bank balances | 9,533 | 14,616 | 24,149 | 14,062 | (4,529) | 9,533 | ||
| Represented by: | ||||||||
| Unrestricted funds | 4 | |||||||
| General | 24,149 | 9,533 | ||||||
| 7 | ||||||||
| 24,149 | 9,533 | |||||||
| Statement ofassets at5 April 2025 | ||||||||
| Fixed interest and equity investment | holdings | 421,793 | 432,476 | |||||
| Statement ofliabilities at | 5 | April 2025 | ||||||
| Independent examination fee | 945 | 900 | ||||||
| Independent examination fee | (prioryear) | - | 876 | |||||
| 945 | 1,776 |
The financial statements on pages 4 to 6 were approved by the Trustees on Tal pre. and signed on their behalf by the undernoted:
The notes on page 6 form part of these financial statements.
Page 5
The Mixbury Trust
Notes to the financial statements for the year ended 5 April 2025
1. Accounting policies
Accounting convention
The financial statements have been prepared under the historical cost convention, and in accordance with the Charities Accounts (Scotland) Regulations 2006 (as amended).
Basis offinancial statements
The financial statements have been prepared on a receipts and payments basis.
Receipts and Payments Account
For the purpose of the Receipts and Payments account as shown on page 4, funds are defined as follows:
Unrestricted funds comprise grants and other income received for the objects of the Trust without further specified purpose and are available as general funds.
2. Stowe school fees
There were no payments made to Stowe School during the year due to the previous candidate graduating and a break before a new candidate is selected.
3. Transactions with Trustees
There were no transactions with the Trustees during the year ending 5 April 2025 (2024: nil).
| 4. | Unrestricted fund | Balance at | Balance at | ||
|---|---|---|---|---|---|
| 06.04.24 | Receipts | Payments | 05.04.25 | ||
| = | = | £ | £ | ||
| General fund | 9,533 | 107,455 | (92,839) | 24,149 | |
| Totalunrestrictedfund | 9,533 | 107,455 | (92,839) | 24,149 |
Explanation offunds
The Generalfund represents all income and expenditure relating to the primary focus activities of the Trust.
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