The Clara E Burgess Charity

Objectives

The charity was formed under the terms of the Will dated 6 November 1987 of Douglas Burgess of 21 Newton Street, Manchester who died on 20 October 1997. By his Will, Mr Burgess authorised the Trustee to retain his residuary estate upon Trust as to income and capital for such charitable purposes as shall benefit children as the Trustee shall in his absolute discretion think fit and to constitute a new charitable Trust to be called "The Clara E Burgess Charity" for these charitable purposes. This Trust was created by a declaration of the trust dated 6 October 1998.

Professional Advisers

Investment Managers Coutts & Co

Trustees

The Royal Bank of Scotland

Investment Policy

Under the terms of the Declaration of Trust the trustee is given an unrestricted power of investing or varying the investments as if the trustee is absolutely and beneficially entitled to them. The trustee uses this power to manage the investments with an investment policy aimed at producing a balanced portfolio which will generate a reasonable level of income to enable the trustee to make donations in furtherance ofthe charity's objects.

Grant Policy

Applications for help from the charity are made by applying in writing to the trustee. The applications are considered at half yearly intervals in January and July.

Governance

The Trustee has assessed the major risks to which the Charity is exposed, in particular in relation to the operations and finances of the Trust, and is satisfied that systems are in place to mitigate exposure to the major risks.

Reserves

Given the availability of the expendable endowment fund the trustees do not consider that the charity needs to maintain any significant free reserves although they recognise that such reserves will arise from time to time. As at 20 October 2011 free reserves totalled 86,994.

Future Commitments

The trustees intend to continue the charity's grant-making activity.

General Review

Incoming resources for the year amounted to 289,022 (2010: 263,466). Charitable donations made during the year amounted to 298,900 as compared with 260,504 in the previous year. After the payment of expenses there was a net outflow of resources for the year of 176,381 (2010: 171,866) before gains and losses on investments. Losses on investments amounted to (520,957) (2010,gains: 618,800) resulting in a net decrease in funds of (697,338) (2010, increase: 446,934) and total funds carried forward at the year end of 9,888,573 (2010: 10,585,911)

The Royal Bank of Scotland
Trust & Estate Services
Eden Building, Lakeside
Chester Business Park, Wrexham Road
Chester
CH4 9QT

Tel: 01244 625810

CC number: 1072546

Performance Guide Rankings

investment assets 890 / 1000
investment income 839 / 995
return on investments 513 / 995
investment management costs 225 / 743
inv mgmt costs as % of inv assets 33 / 743

inv mgmt costs as % of inv income 36 / 743
investment property - / 361
income from investment property - / 325
inv property inc as % of investment property - / 225

income from listed investments - / 661
income from short-term investments 662 / 726
listed investment inc as % of inv income - / 661
short-term investment assets 662 / 988

legacy income - / 226
grants received - / 88
total voluntary income - / 628

grants made 517 / 668
charitable expenditure 612 / 638
charitable expenditure as % of total expenditure 284 / 335
support costs - / 230
management & administration fees 589 / 970
audit fee per £m of income 104 / 949

total incoming resources 935 / 1000
total resources expended 879 / 1000
total assets 907 / 1000
period ending 2010 2011
INCOMING RESOURCES £m £m
legacies - -
grants - -
total voluntary income - -
activities, furtherance of charities objects - -
activities for generating funds - -
trading subsidiaries - -
sales and fees from operating activities - -
investment property - -
dividends - -
total listed investments - -
income from subsidiaries - -
interest on cash & short term inv 0.00 0.00
total investment income 0.26 0.29
TOTAL INCOMING RESOURCES 0.26 0.29

RESOURCES EXPENDED £m £m
fundraising costs - -
investment management costs 0.13 0.12
Investment costs 0.13 0.12
cost of generating funds 0.13 0.12
grants paid 0.26 0.30
activities, furtherance of charities objects 0.02 0.02
management and admin 0.03 0.03
total charitable expenditure 0.31 0.35
TOTAL RESOURCES EXPENDED 0.44 0.47

ASSETS £m £m
intangible assets - -
tangible fixed - -
equities - -
bonds - -
listed investments 10.54 9.31
investment assets 10.54 9.31
other fixed assets - -
total fixed assets 10.54 9.31
stock - -
debtors 0.18 0.00
cash 0.23 0.74
current assets 0.42 0.74
bank loans & overdrafts - -
trade & other creditors, accruals 0.37 0.17
creditors falling due within one year 0.37 0.17
net current assets 0.05 0.58
loans - -
future long-term grant commitments - -
trade creditors - -
subsidiary & associated undertakings - -
creditors falling due after one year - -
provisions for liabilities and charges - -
TOTAL ASSETS 10.59 9.89

ASSETS £m £m
income funds 0.09 0.09
endowment funds 10.49 9.80
restricted funds - -
TOTAL FUNDS 10.59 9.89