## **THE HAREBELL CENTENARY FUND** **TRUSTEES’ REPORT AND FINANCIAL STATEMENTS** **YEAR ENDED 31 DECEMBER 2023** ## **THE HAREBELL CENTENARY FUND** ## I N D E X ## **Year ended 31 December 2023** ||**Page**| |---|---| |Trustees’ annual report|2| |Independent examiner’s report|7| |Statement of financial activities|8| |Balance sheet|9| |Notes to the financial statements|10| |Appendix: Investment portfolio|15| |(not filed with the Charity Commission)|| 1 ## **THE HAREBELL CENTENARY FUND** ## T R U S T E E S ' A N N U A L R E P O R T ## **Year ended 31 December 2023** The Trustees present their annual report along with the financial statements of the Charity for the year ended 31 December 2023. The financial statements have been prepared in accordance with the accounting policies set out on pages 10 and 11 and comply with the Charity’s Trust Deed, the Charities Act 2011 and the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Report Standard applicable in the UK and Republic of Ireland (FRS102). ## **Structure, governance and management** The Harebell Centenary Fund is an unincorporated registered charity, which was created by Deed on 18 June 1991, with the initial Trust Fund of £100 cash. The Trustees shall hold the capital and the income of the Trust Fund upon trust to apply the income and as far as may be necessary the capital for or towards such charitable purposes and to make donations to such charitable bodies or institutions at such times and in such manner as the Trustees may in their absolute discretion think fit. The minimum number of Trustees, as required by the governing Deed, is three. Trustees serve an indefinite term based on their relative experience and contribution to the Charity as a whole. In selecting new Trustees the existing Trustees’ policy is to take account of the benefits of appointing a person who through residence, occupation, employment or otherwise has special knowledge of the area of benefit or who is otherwise able, by virtue of his or her personal or professional qualifications, to make a contribution to the pursuit of the objects or the management of the Charity. Trustees are given a copy of the Charity’s governing document, accounts and financial information, policies and anything else that explains how it works. The Trustees meet on a six-monthly basis to agree the broad strategy and areas of activity for the Charity, including consideration of grant-making, investment, reserves and risk management policies and performance. The day to day administration of grants and the processing and handling of applications prior to the consideration of the Trustees is handled by the Administrator. All Trustees give of their time freely and no Trustee remuneration was paid in the year. Details of Trustee expenses and related party transactions are disclosed in note 8 to the accounts. Trustees are required to disclose all relevant interests and in accordance with the Charity’s policy withdraw from decisions where a conflict of interest arises. ## **Risk management** The Trustees have considered the major risks to which the Charity is exposed and have reviewed those risks and established systems and procedures to manage those risks. Major risks identified by the Trustees are the volatility of market values of the quoted investments held, and their short and long term performance and viability, together with the proper use of grants given by the Charity each year. The Trustees will continue to keep the adequacy of the systems in place under review. The Trustees considered that the greatest risk was the misuse of the funds that are held in custody by the brokers. However, the Trustees had assessed the risk and, given the regulatory regime to which the investment managers are subject, were satisfied that the level of risk was minimal such that it was appropriate to be accepted by the Trustees. ## **Objects, objectives and principal activities for the public benefit** Under the terms of the original Deed, the Trustees have discretion to pay or apply the Trust Fund or the income thereof to further the advancement of the education of the general public particularly in matters of providing funding to young persons to further their education, the promotion of neurological and neurosurgical research and the relief of sickness and suffering amongst animals and generally for such purposes or objects which are from time to time recognised as exclusively charitable according to the law of England and Wales. The Trustees, having regard to the public benefit guidance published by the Charity Commission in accordance with section 17 of the Charities Act 2011, consider that the purposes and activities of the charity satisfy the requirements of the public benefit test set out in section 4 of the same Act. The Charity carries out these objects by providing grants to institutions which are also UK registered charities and whose objects comply with the Charity’s criteria. Whilst the Trustees are mindful of their own obligation to ensure that the Charity benefits the public generally, they take some assurance from the fact that the recipients of grants are themselves regulated to ensure that they operate in accordance with the guidance from the Charity Commission on public benefit. 2 ## **THE HAREBELL CENTENARY FUND** T R U S T E E S ' A N N U A L R E P O R T ( C O N T I N U E D ) ## **Year ended 31 December 2023** ## **Objects, objectives and principal activities for the public benefit (continued)** The main aims of the Charity are: - To support charitable causes which are of particular interest to each individual Trustee together with causes which are of interest to the Trustees as a whole. - To provide charitable funding in accordance with the governing Trust Deed and the Objects contained within. - To maintain resources at a reasonable level in order to continue to provide general charitable assistance in the foreseeable future. The main objectives for the year are shaped by these strategic aims with a view to continuing to fund chosen general charitable causes in line with the Trust Deed. ## **Grant-making policy** The current policy of the Trustees is to concentrate on making donations to charities which do not receive widespread public support with three main factors in mind: 1. To reduce the administrative costs of the Charity in the making and monitoring of donations. 2. To effectively increase the amount of distributable income. 3. To be able to increase the amount of support to those causes for which the Trustees assess in the Charity’s donations provide a significant social reward. The Trustees have decided to make donations only to registered charities and not to individuals. The Trustees do not respond to unsolicited applications as they prefer to support donations to charities whose work they have researched and which is in accordance with the aims and objectives of the Charity for the year. Financial circumstances will be relevant only in determining the amount of an award. The Trustees request regular reports from the recipients of their donations to provide details of how the grants have been allocated and spent. Grants are only continued where the applicant provides sufficient relevant information to the Trustees and satisfies the Trustees that continuation of funding is in the interests of the Charity. In order to enable the Trustees to be satisfied as to the work of the charities and the specific projects which they support the Trustees have agreed a rolling programme of visits to those charities which receive regular distributions from The Harebell Centenary Fund. During the course of the year the trustees have visited The Daws Hall Trust , Success After Stroke, Ferrriers Barn and the Tabor Centre. Mrs Angela Fossick, Trustee, has also been in contact with Age Well East, which supplied an elderly lady with hand rails, attended a zoom lecture from Morefields Eye Hospital, and met with several of the trustees of Talitha, at the Chelsea Flower Show, where they won a gold medal for their garden. ## **Achievements and performance** The investment income for the year was £14,347 higher than last year. The Trustees are satisfied with the level of investment income received by the Charity during the year ended 31 December 2023, which reflects the overall market conditions. During the year the Charity made 13 grants (2022 - 20) to 13 charities (2022 - 20). 3 ## **THE HAREBELL CENTENARY FUND** T R U S T E E S ' A N N U A L R E P O R T ( C O N T I N U E D ) ## **Year ended 31 December 2023** ## **Financial review (including reserves policy)** The Charity is reliant on the income from its investments. The Charity’s investment income during the year ended 31 December 2023 comprised dividends and interest amounting to £243,830 (2022 - £229,483). The governance costs of the Charity for the year ended 31 December 2023 were £16,012 (2022 - £21,172). An income surplus arose after governance expenses for the year ended 31 December 2023 of £227,818 (2022 - £208,311) before income donations to charities of £109,400 (2022 - £194,800) and investment management fees of £45,465 (2022 - £48,054). The Trustees aim to maintain free reserves in unrestricted funds at a level which is sufficient to distribute the Trust Fund to charitable causes whilst retaining capital for the maintenance and growth of the Fund. It is the policy of the Trustees to use the investments to generate income and whilst the capital can be spent it will be used to generate income. ## **Future plans** It is the intention of the Trustees to continue to manage the investment portfolio so as to produce an investment income from which grants will be made to charitable organisations in line with the grant-making policy set out on page 3. ## **Investment policy and performance** The charitable Trust Deed confers upon the Trustees wide powers of investment, in all respects, as if they were absolute owners beneficially entitled to the underlying assets. At present the Charity’s funds comprise listed securities and cash. Trust monies requiring investment under the Trust may be invested in the purchase of such stocks, funds, shares, securities or other investments of whatsoever nature as the Trustees shall in their absolute discretion think fit. The Trustees shall have the same full and unrestricted powers of investing and converting investments in all other respects as if they were absolutely entitled to the Trust fund beneficially. The Trustees monitor the performance of the investments held by the Charity in line with their short and long term aims and objectives. The securities are looked after by an investment manager, who supplies advice on investment matters and manages the fund in line with the Trustees’ objectives. The Trustees report that the total return from the investment portfolio for the year ended 31 December 2023 has been 16.1% (2022 – a negative return of 12.8%) compared to a CPI + 4% benchmark of 8.2%. Investments are shown at market value rather than book cost in accordance with the Statement of Recommended Practice: Accounting by Charities (FRS102) (effective 1 January 2019). In the year to 31 December 2023, the Charity made realised gains on listed investments of £100,224 (2022 - £156,850) and unrealised gains of £212,782 (2022 – unrealised losses of £1,172,733). The Trustees confirm that the Charity’s assets are sufficient to fulfil its obligations in respect of unrestricted funds and that all investments held by them on behalf of the Charity have been acquired in accordance with the powers available to them under the Trust Deed. The Trustees set 5% of period-end market value of the investment portfolio as the threshold for reporting material investments. Holdings of greater than the threshold are acceptable only by the approval of the Trustees. The Trustees agree to a reserves policy of £50,000 in liquid assets. All cash is held on interest-bearing deposit. The Trustees are satisfied with the financial position of the Charity and confirm that they have adequate assets available to fulfil their obligations. ## **The Accounts** The accounts comply with statutory requirements. 4 ## **THE HAREBELL CENTENARY FUND** T R U S T E E S ' A N N U A L R E P O R T ( C O N T I N U E D ) ## **Year ended 31 December 2023** ## **Trustees’ responsibilities in relation to the financial statements** The Trustees are responsible for preparing the Trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards. The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles of the Charities SORP; - make judgements and accounting estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 5 THE HAREBELL CEKfENARY FUND TRUSTEES ANNUAL REPORT (CONTINUED) Ye¥ ended 31 December IOIJ Re£i5tered Charity ntvnber I(1)3552 MrMIA¢xxx M5 PJ Thapma Mrs A R F055ick Princ"pal office [¢￿d￿l ECIA 7BL Administrator Ms PJ Clwan Indewdart Examiner Stv¥en Wakefield ACA 22 Chwcery kne WC2A ILS Investswt ath?sers and b*ykvs 8 ￿ CiroJ5 EC2M 7A2 Solicitor5 BDB Rtnws LLP One Banhok)mew Cls>se ECIA7BL &.￿led on the Trnstees. behalf by MR N I A GOODBODY 24 July 2024 ## **THE HAREBELL CENTENARY FUND** I N D E P E N D E N T E X A M I N E R ’ S R E P O R T ## **Year ended 31 December 2023** ## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE HAREBELL CENTENARY FUND** I report to the trustees on my examination of the accounts of the Trust for the year ended 31 December 2023. ## **Responsibilities and basis of report** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). You are satisfied that an audit is not required for this year under charity law and that an independent examination is needed. I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Dixon Wilson, a firm of Chartered Accountants of which I am a partner has provided bookkeeping services to the Trust and I have applied the FRC’s Revised Ethical Standard in carrying out my examination. An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, I express no opinion as to whether the accounts present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement. ## **Independent examiner’s statement** I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. STEVEN WAKEFIELD ACA Dixon Wilson 22 Chancery Lane London WC2A 1LS > 31 July 2024 7 ## **THE HAREBELL CENTENARY FUND** S T A T E M E N T O F F I N A N C I A L A C T I V I T I E S ## **Year ended 31 December 2023** |**Unrestricted**
**Expendable**
**income**
**endowment**
**Note**
**fund**
**fund**
**£**
**£**
**Income and endowments from:**
Investments:
Income from listed securities
230,820
-
Interest on cash deposits
13,010
-
Other investment income
-
-


**Total income and endowments**
243,830
-


**Expenditure on:**
Raising funds:
Investment management fees
-
45,465
Charitable activities:
Grants made
3
109,400
-
Governance costs
2
8,006
8,006


**Total expenditure**
117,406
53,471


**Net income/(expenditure) before**
**Investment gains and losses**
126,424
(53,471)
Net gains on investments
4
-
313,006
Net gains on foreign exchange
-
(75)


**Net income/(expenditure)**
126,424
259,460
Net movement in funds
126,424
259,460

**Reconciliation of Funds**
Fund balances brought forward at 1 January 2023
48,726
7,541,786


**Fund balances carried forward at**
**31 December 2023**(page 9)
175,150
7,801,246
|**2023**
**Total**
**£**
230,820
13,010
-

243,830

45,465
109,400
16,012

170,877

72,953
313,006
(75)

385,884
385,884

7,590,512

7,976,396
|**2022**
**Total**
**£**
222,663
6,690
130

229,483

48,054
194,800
21,172

264,026

(34,543)
(1,015,883)
429

(1,049,997)
(1,049,997)

8,640,509

7,590,512
| |---|---|---| The notes on pages 10 to 14 form part of these financial statements. All amounts are attributable to continuing activities. All income from investments relates to unrestricted income funds. The Trust has no recognised gains and losses other than as stated above. 8 THE HAREBELL CENTENARY FUND BALANCE SHEET At 31 December 2023 2023 2022 Inve5tmellts: oted investnRnrs at markttyd 7,81&197 7,563,245 Debtcrt 1.834 17&214 53,691 17&0 51691 Curvert Ilabl•de5 Credrtor& amounts falling t*Je vlthin ohe >tar Net cwrent assetsl(Habllldes) (17.849) 160.199 (26424) 27267 7.976.396 7J90.512 Totsl Charlty Fund Unrestr•rt￿ Fund* Unrestricted incc¥ne fijnd (page 8) 10 10 175.150 7￿1246 48726 7541,786 7.976.396 7.55ll5J2 The financHI statements pages 8 to 14 ￿re aFv0￿d by the Trustees on 24 July their behal br.- 2024 and $i￿ed ¢)n MR M I A GOODBODY Truxee The notes on page5 10 to 14 form parr dthese frmndal 5￿m￿r& ## **THE HAREBELL CENTENARY FUND** N O T E S T O T H E F I N A N C I A L S T A T E M E N T S ## **Year ended 31 December 2023** ## **1. Accounting policies** ## **(a) Basis of preparation and assessment of going concern** The financial statements have been prepared in accordance with applicable accounting standards, the Statement of Recommended Practice "Accounting and reporting by Charities" in preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019) and the Charities Act 2011. The particular accounting policies adopted are described below. The Trust constitutes a public benefit entity as defined by FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note. The Trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern. The financial statements are presented in Sterling which is the functional currency of the Trust rounded to the nearest £1. ## **(b) Fund accounting policy** The Trust comprises of an unrestricted income fund and an expendable endowment fund. Unrestricted funds are general funds that are available for use at the Trustees’ discretion in furtherance of the objectives of the Trust. Expendable endowment funds are capital funds that may be freely converted into spendable income as the Trustees see fit. All the Trust’s funds are unrestricted. The income fund is held for distribution and the capital fund is held to facilitate the maintenance and growth of The Harebell Centenary Fund unless capital is needed for distributions should a shortfall arise in the income fund. ## **(c) Income** Investment income is credited to the Income account when receivable. Dividends are recognised where the Trustees are entitled to receive payment. Investment gains and losses includes any realised or unrealised gains or losses on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year. Funds added to the Trust are credited to the expendable endowment fund when receivable provided no restrictions have been specified by the donor. ## **(d) Expenditure and liabilities** Liabilities are recognised as soon as there is a legal or constructive obligation committing the Trust to the expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. No material item of deferred income has been included in the accounts. The Trust has creditors which are measured at settlement amounts less any trade discounts. Donations are charged to the income or the capital account on the date of approval by the Trustees. Governance costs comprise all costs involving the public accountability of the Trust and its compliance with regulation and good practice and are inclusive of irrecoverable VAT. These costs also include costs relating to the independent examination of the financial statements. The costs have been split equally, based on a fair estimate of the time spent dealing with ongoing matters, between the income and capital account. 10 N O T E S T O T H E F I N A N C I A L S T A T E M E N T S ## **THE HAREBELL CENTENARY FUND** ## **Year ended 31 December 2023** ## **(e) Assets** Fixed asset investments in quoted shares, traded bonds and similar investments are valued initially at cost and subsequently at fair value (their market value) at the year end. Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the Trust. Subsequently, they are measured at the cash or other consideration expected to be received. ## **(f) Taxation** The Trust is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives. ## **(g) Cash flow** The financial statements do not include a cash flow statement because the Trust, as a small reporting entity, is exempt from the requirement to prepare such a statement under FRS 102. ## **2. Governance costs** |**Unrestricted Expendable**
**income endowment**
**fund**
**fund**
**£**
**£**
Administration fees
4,722
4,722
Accountancy fees
1,450
1,450
Independent examiner fees
500
500
VAT
1,334
1,334


8,006
8,006

|**Unrestricted Expendable**
**Total**
**income endowment**
**2023**
**fund**
**fund**
**£**
**£**
**£**
9,444
7,072
7,072
2,900
1,250
1,250
1,000
500
500
2,668
1,764
1,764


16,012
10,586
10,586

|**Total**
**2022**
**£**
14,144
2,500
1,000
3,528
| |---|---|---| |||21,172
| ## **3. Grants made** |**Unrestricted Expendable**
**income endowment**
**fund**
**fund**
**£**
**£**
Age Well East
10,000
-
Alzheimer’s Research UK
-
-
Amber Trust
-
-
Ambitious About Autism
10,000
-
Batten Disease Family Association
-
-
Brain Tumour Support
10,000
-
Canine Partners for Independence
10,000
-
Carers Trust
-
-
Changing Faces
(10,000)
-
Crathie School
4,400
-


Carried forward
34,400
-|**Unrestricted Expendable**
**Total**
**income endowment**
**2023**
**fund**
**fund**
**£**
**£**
**£**
10,000
-
-
-
10,000
-
-
10,000
-
10,000
10,000
-
-
10,000
-
10,000
10,000
-
10,000
-
-
-
10,000
-
(10,000)
10,000
-
4,400
4,800
-



34,400
74,800
-|**Total**
**2022**
**£**
-
10,000
10,000
10,000
10,000
10,000
-
10,000
10,000
4,800| |---|---|---| |||74,800| 11 ## **THE HAREBELL CENTENARY FUND** ## N O T E S T O T H E F I N A N C I A L S T A T E M E N T S ## **Year ended 31 December 2023** ## **3. Grants made (continued)** |**Unrestricted Expendable**
**income endowment**
**fund**
**fund**
**£**
**£**
Brought forward
34,400
-
David Shepherd
Wildlife Foundation
10,000
-
Disabled Sailors Association
-
-
Ferriers Barn
10,000
-
Headway Essex
10,000
-
Helen & Douglas House Hospice
-
-
Omega
5,000
-
Parkinson’s UK
-
-
St Helena Hospice
-
-
Success After Stroke
10,000
-
Support Dogs
-
-
Talitha Arts
10,000
-
The Daws Hall Trust
10,000
-
The Macular Society
-
-
The Tabor Centre
10,000
-


Total
109,400
-
|**Unrestricted Expendable**
**Total**
**income endowment**
**2023**
**fund**
**fund**
**£**
**£**
**£**
34,400
74,800
-
10,000
-
-
-
10,000
-
10,000
10,000
-
10,000
10,000
-
-
10,000
-
5,000
-
-
-
10,000
-
-
10,000
-
10,000
10,000
-
-
10,000
-
10,000
10,000
-
10,000
10,000
-
-
10,000
-
10,000
10,000
-



109,400
194,800
-

|**Total**
**2022**
**£**
74,800
-
10,000
10,000
10,000
10,000
-
10,000
10,000
10,000
10,000
10,000
10,000
10,000
10,000
194,800| |---|---|---| All grants were made to institutions, with no restrictions attached and are to be used by the Trust to meet its general objectives. |**4.**
**Fixed asset investments**
**Listed investments**
Market value at 1 January
Acquisitions at cost
Proceeds of disposals

Net realised and unrealised gains
in the year to 31 December

Market value at 31 December
Cash and settlements pending, held as part of the investment portfolio

|**2023**
**2022**
**£**
**£**
6,814,807
8,159,021
3,293,267
1,387,325
(2,789,091)
(1,715,656)
313,006
(1,015,883)


7,631,989
6,814,807
184,208
748,438


7,816,197
7,563,245

| |---|---| 12 ## **THE HAREBELL CENTENARY FUND** ## N O T E S T O T H E F I N A N C I A L S T A T E M E N T S ## **Year ended 31 December 2023** |**5.**
**Debtors**
Accrued income|**2023**
**£**
1,834

1,834
|**2022**
**£**
-
| |---|---|---| |||-
| |||| |**6.**
**Cash**
Cash held with investment manager – income accounts

|**2023**
**£**
176,214

176,214
|**2022**
**£**
53,691
| |||53,691
| |||| |**7.**
**Creditors: amounts falling due within one year**
**Other creditors and accruals**
Administration fees
Accountancy fees
Investment management fees|**2023**
**£**
1,409
4,440
12,000

17,849
|**2022**
**£**
10,224
4,200
12,000
| |||26,424
| ## **8. Trustees’ remuneration and expenses** No Trustee received remuneration during the year. Trustee Ms P J Chapman is a partner of BDB Pitmans LLP. BDB Pitmans LLP charged net fees of £9,444 (2022 - £13,719) in respect of professional fees during the year. The Fund owed BDB Pitmans LLP £1,408 (2022 - £1,314) at the balance sheet date. The Trustees are authorised by the Trust Deed to pay professional charges to Trustees engaged in a professional capacity on the instructions of the other Trustees. The Trustees have not purchased indemnity insurance. 13 ## **THE HAREBELL CENTENARY FUND** N O T E S T O T H E F I N A N C I A L S T A T E M E N T S ## **Year ended 31 December 2023** ## **9. Employees** The number of employees employed by the trust in the year was nil (2022 – nil). |**10.**
**Unrestricted funds**
Unrestricted income fund
Expendable endowment fund

|**Funds**
**brought**
**Incoming**
**Outgoing**
**forward**
**resources**
**resources**
**£**
**£**
**£**
48,726
243,830
(117,406)
7,541,786
-
(53,471)



7,590,512
243,830
(170,877)

|**Gains**
**£**
-
312,931

312,931
|**Funds**
**carried**
**forward**
**£**
175,150
7,801,246

7,976,396
| |---|---|---|---| |**11.**
**Analysis of total net assets between funds**
**Unrestricted**
**Expendable**
**income**
**endowment**
**fund**
**fund**
**£**
**£**
Funds as at 31 December 2023
are represented by:
Investments at market value
-
7,816,197
Debtors
1,834
-
Cash at bank
176,214
-
Creditors
(2,898)
(14,951)


175,150
7,801,246

|**11.**
**Analysis of total net assets between funds**
**Unrestricted**
**Expendable**
**income**
**endowment**
**fund**
**fund**
**£**
**£**
Funds as at 31 December 2023
are represented by:
Investments at market value
-
7,816,197
Debtors
1,834
-
Cash at bank
176,214
-
Creditors
(2,898)
(14,951)


175,150
7,801,246

|**11.**
**Analysis of total net assets between funds**
**Unrestricted**
**Expendable**
**income**
**endowment**
**fund**
**fund**
**£**
**£**
Funds as at 31 December 2023
are represented by:
Investments at market value
-
7,816,197
Debtors
1,834
-
Cash at bank
176,214
-
Creditors
(2,898)
(14,951)


175,150
7,801,246

|**Total**
**2023**
**£**
7,816,197
1,834
176,214
(17,849)
| |---|---|---|---| ||||7,976,396
| ||||| |**12.**
**Financial instruments**
Financial assets measured at fair value through income and expenditure||**2023**
**£**
7,816,197|**2022**
**£**
7,563,245| Financial assets measured at fair value through income and expenditure comprise fixed assets investments. 14 ## **THE HAREBELL CENTENARY FUND** A P P E N D I X : I N V E S T M E N T P O R T F O L I O ## **Year ended 31 December 2023** |**Name**
**Security Type**
Aalberts Industries
SV EUR0.25 Shares
Accenture plc
New A class shares
Advantest Corp
NPV shares
Alibaba Group HLDG
USD0.000003125 Shares
Allkem Ltd
NPV Shares
Alphabet inc
USD0.001 Cls A Common Stock
Alphawave IP Group PLC
1p Ordinary Shares
Amada Co Ltd
NPV shares
Antofagasta Plc
5p Ordinary Shares
Ashtead Group Plc
10p Ordinary Shares
ASML Holdings NV
EUR0.09 Shares post split
Assicurazioni Generali SPA
6.269% Fltg Rt Sub 16/6/Perp26
Astrazeneca Plc
USD0.25 Ordinary Shares
Aurelius AG
NPV shares
Aviva Plc
32.8947368p Ordinary Shares
Bank Of America Corp
NPV Common Stock
Barclays Plc
25p Ordinary Shares
Bayer AG
NPV Shares
Becton Dickinson & Co
NPV Common Stock
Berkshire Hathaway Inc
USD0.0033 Cls B Common Stock
BHP Group Plc
NPV Ordinary Shares
BP Plc
USD0.25 Shares
Breedon Group Plc
NPV Ordinary shares
Breedon Group Plc
1p Ordinary shares
Brookfield Asset Management
Cls A Limited Voting Shs
Brookfield Corp
Cls A Limited Voting Shs
Brown Advisory Funds
US Mid Cap Growth C
Capital Group
Global High Inc Opps
Capri Holdings Ltd
NPV Common Stock
Citigroup Inc
2.75% Snr notes
Citigroup Inc
USD0.01 Common Stock
Clorox Co
USD1 Common Stock
Coca-cola Co
USD0.25 Common Stock
Chikara Funds
Japan Alpha T
**Carried forward**
15||**A**|**t 1January 2023**||**Additions**|||**Disposals**||**At 31**|**Market Value**
**£**
42,524

-
68,864

-
57,135
57,090
6,955
27,728
39,703
157,743
72,656
62,062
137,800

-
37,993

-
37,276
24,150

-
57,354
69,927
67,172

-
13,792
45,971

-

-
210,058

-
40,944

-

-
47,845

-
1,382,742
**December 2023**|**Net Income**
**£**
603
129
407
-
-
-
-
791
1,177
2,293
563
2,783
3,050
-
2,779
693
1,866
1,278
329
-
3,600
3,218
267
152
3,407
345
-
14,268
-
-
1,160
358
1,292
-| |---|---|---|---|---|---|---|---|---|---|---|---|---| ||**Holding**
-
186
645
900
10,712
521
5,400
3,390
2,794
2,888
133
65,000
1,300
1,278
8,740
1,537
24,240
716
176
205
2,600
14,410
19,053
-
952
3,808
1,434
6,536
690
-
1,092
221
1,035
10,801
193,393|**Book Value**
**£**
-
33,347
22,472
7,708
29,239
32,132
20,404
25,878
22,713
21,704
25,562
64,788
57,240
32,416
24,973
44,037
57,740
36,929
32,074
35,138
36,214
72,725
11,648
-
13,927
73,264
15,557
235,694
26,669
-
42,473
32,431
37,921
31,718|**Market Value**
**£**

-

41,260

34,461

8,268

67,878

38,214

5,508

22,085

43,181

136,314

59,449

66,502

145,834

20,863

38,701

42,319

38,425

30,870

37,207

52,643

66,820

68,433

11,622

-

22,646

99,484

19,445

212,672

32,880

-

41,060

25,782

54,731

-|**Quantity**
1,250

-

1,935

-

-

-

-

-

-

-

-

-

-

-

-

-

-

111

-

-

-

-

(19,053)
3,810

500

-

-

-

-
40,000

-

-

-

-
|**Cost**
45,397
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
5,478
-
-
-
-
(11,648)
11,648
12,562
-
-
-
-
39,567
-
-
-
-|**Quantity**
**Proceeds**
-
-
186 38,912

-
-
900 7,602

1,190 7,532

-
-

-
-

-
-
430 7,325

-
-
10 5,644

5,000 5,208

-
-

1,278 19,260

-
-

1,537 34,524

-
-
-
-
176 35,017

-
-

-
-

-
-
-
-
-
-
-
-

3,808 102,467

1,434 20,191

- 135
690 29,545
-
-

1,092 35,711
221 26,001

-
-
10,801 61,609
436,683||**Profit/(Loss)**

-

5,565

-

(106)

4,284

-

-

-

3,829

-

3,722

224

-

(13,156)

-

(9,513)

-

-

2,943

-

-

-

-

-

-

29,202

4,634

-

2,876

-

(6,763)

(6,430)

-

29,892|**Holding**
1,250
-
2,580
-
9,522
521
5,400
3,390
2,364
2,888
123
60,000
1,300
-
8,740
-
24,240
827
-
205
2,600
14,410

-
3,810
1,452
-
-
6,536
-
40,000
-
-
1,035
-|**Book Value**
**£**

45,397

-

22,472

-

25,991

32,132

20,404

25,878

19,217

21,704

23,640

59,804

57,240

-

24,973

-

57,740

42,407

-

35,138

36,214

72,725

-

11,648

26,489

-

-

235,559

-

39,567

-

-

37,921

-||| |||1,256,735|
1,585,557||103,004||436,683|
51,203||974,260||46,808| ## **THE HAREBELL CENTENARY FUND** A P P E N D I X : I N V E S T M E N T P O R T F O L I O ## **Year ended 31 December 2023** |**Name**
**Security Type**
**Brought forward**
Coupland Cardiff Funds
Japan Inc & Gth Found Inc (US$)
Croda International Plc
10.609756p Ordinary Shares
Daifuku Co Ltd
NPV Shares
Daikin Industries Ltd
NPV Shares
Daiseki Co Ltd
NPV Shares
Deutsche Bank AG
4% Fltg Rt Nt
Diageo Plc
28 101/108p Ordinary Shares
DSM FIRMENICH AG
EUR0.01 Shares
Elementis Plc
5p Ordinary Shares
Emerson Electric Co
USD0.50 Common Stock
Experian Plc
USD0.10 Ordinary Shares
Fair Oaks Income Fund Ltd
NPV Ord 2021 Shares
Ferrari NV
EUR0.01 Common Stock
First Quantum Minerals Ltd
NPV Common Stock
Future Plc
15p Ordinary Shares
GCP Infrastructure Inv Ltd
1p Ordinary Shares
Genus Plc
10p Ordinary Shares
Gold Bullion Securities Ltd
Gold Bullion Secs
Goldman Sachs
3.125% Snr MTN 25/07/2029
Govt of Japan
0.005% I/L Snr 10/03/2031
GSK PLC
31 1/4p Ordinary Shares
GSK PLC
25p Ordinary Shares
Haleon PLC
1p Ordinary Shares
Hewlett-Packard Corp
USD0.01 Common Stock
HITACHI LTD
NPV Shares
Howden Joinery Group Plc
10p Ordinary Shares
Hoya Corp
NPV Shares
HSBC Holdings Plc
5.3% Fltg Rt Nt Sub
HSBC Holdings Plc
USD0.50 Ordinary Shares
Informa Plc
0.1p Ordinary Shares
Ishares Plc
Physical Silver ETC GBP
ISHARES III PLC
S&P equal weight UCITS hgd ETF
JCU Corp
NPV Shares
Johnson & Johnson
USD1 Common Stock
Keyence CORP
NPV Shares
Koninklijke DSM
EUR1.50 Shares
**Carried forward**||**A**|**t 1January 2023**||**Additions**|||**Disposals**||**At 31**|**Market Value**
**December 2023**
1,382,742

-
72,417
28,569
26,857

-
74,447
79,540
35,714
22,996

-
126,479
127,731
63,999

-
16,300
64,151
52,080
179,394
67,641
32,066
53,077

-

-

-
52,061
34,985
38,247
37,933
54,018
35,779
58,191
20,535
39,419

-
27,652

-
2,905,020|**Net Income**| |---|---|---|---|---|---|---|---|---|---|---|---|---| ||**Holding**
193,393
-
1,434
400
175
860
-
2,785
-
18,022
498
3,950
272,373
242
1,976
2,049
77,484
2,400
1,199
72,000
5,400,000
3,660
-
4,575
2,222
920
4,300
390
-
8,500
4,580
2,812
-
1,380
365
-
302
6,085,246|**Book Value**|**Market Value**|**Quantity**


-

-

1,400

35

250
75,000

-
448

-

-

-

23,685

-

-

-

11,614

-

-

-

-

-

-

-

-

-

-

-
60,000

-

-

448
3,800

400

-
80

(302)
|**Cost**|**Quantity**
**Proceeds**
436,683

-
-

-
-
-
-
-
-
1,110 22,782
-
-

-
-
-
-

-
-
498 32,693

-
-
-
-

-
-

1,976 34,300

-
-
-
-

-
-

-
-

-
-

-
-

-
-

-
-

4,575 14,734

2,222 24,463

-
-

-
-

-
-
-
-

-
-

-
-
-
-
-
-
-
-
365 45,110
-
-
-
-
610,765||**Profit/(Loss)**|**Holding**

-
1,434
1,800
210
-
75,000
2,785
448
18,022
-
3,950
296,058
242
-
2,049
89,098
2,400
1,199
72,000
5,400,000
3,660

-
-
-
920
4,300
390
60,000
8,500
4,580
3,260
3,800
1,780
-
80

-|**Book Value**||| |||1,256,735
-
43,044
26,731
21,421
28,383
-
26,794
-
18,000
31,301
21,353
146,351
33,098
38,004
33,335
89,294
28,972
127,940
74,205
36,585
51,504
-
11,427
20,279
25,158
12,488
27,510
-
58,698
22,566
47,122
-
33,462
45,094
-
24,209|
1,585,557
64,948

94,701

15,575

22,272

24,600

-

101,653

-

21,698

39,769

111,114

110,951

42,985

34,298

25,961

79,034

71,616

168,004

63,319

35,252

52,616

-

14,976

29,481

38,784

24,149

31,219

-

43,835

28,378

53,512

-

26,780

53,602

-

30,626||103,004
-
-
9,526
5,013
6,197
73,029
-
37,557
-
-
-
10,175
-
-
-
8,243
-
-
-
-
-
-
-
-
-
-
-
36,911
-
-
8,457
19,729
8,150
-
27,025
(24,209)|||
51,203

-

-

-

-

(11,798)

-

-

-

-

1,392

-

-

-

(3,704)

-

-

-

-

-

-

-

-

3,307

4,184

-

-

-

-

-

-

-

-

-

16

-

-||974,260

-

43,044

36,257

26,434

-

73,029

26,794

37,557

18,000

-

21,353

156,526

33,098

-

33,335

97,537

28,972

127,940

74,205

36,585

51,504

-

-

-

25,158

12,488

27,510

36,911

58,698

22,566

55,579

19,729

41,612

-

27,025

-||46,808
-
1,549
244
249
280
2,604
2,228
501
-
357
1,722
21,392
280
-
70
5,424
768
-
2,250
1
2,031
-
192
364
663
890
202
-
3,605
577
-
-
497
585
-
-| |||2,461,063|
3,141,265||328,808||610,765|
44,600||2,223,706||96,333| ## **THE HAREBELL CENTENARY FUND** A P P E N D I X : I N V E S T M E N T P O R T F O L I O ## **Year ended 31 December 2023** |**Name**
**Security Type**
**Brought forward**
Lazard Fund Mgrs (Ire)
Gbl Listed Infra Eqty A Inc
Legal & General Group Plc
2 1/2p Ordinary Shares
Linde plc
EUR0.001 Common Shares
Lloyds Banking Group Plc
2.707% Fltg Rt Sub
Lloyds Banking Group Plc
10p Ordinary Shares
LVMH Moet Hennessy SA
EUR0.30 Shares
Lynas Rare Earths LTD
NPV Shares
M&G Plc
5p Ordinary Shares
Mayfair Capital Investment Management
Property Inc Trust for Charity
Mercedes-Benz Group AG
NPV Ordinary Shares
Microsoft Corp
USD 0.00000625 Common Stock
Nestle SA
CHF1 Shares Regd
Nichols Plc
10p Ordinary Shares
Nintendo Co Ltd
NPV Shares
Nordic Investment Bank
1.5% Snr Bond
Novo-Nordisk AS
DKK0.1 Ser B Shares
Novo-Nordisk AS
DKK0.2 Ser B Post Split
Palantir Technologies Inc
USD0.001 Cls A Common Stock
Paypal Holdings Inc
USD0.0001 Common Stock
Pension Insurance Corp
6.5% Sub 3/07/2024
PGH Capital Ltd
6.625% Gtd Sub Nts 18/12/2025
Pola Orbis
NPV Shares
Polar Capital Fund
Global Convertible S Inc
Polar Capital Holdings
2 1/2p New Ordinary Shares
Porsche Automobile HLDGS SE
NPV Non Vtg Pref Shares
Princess Private Equity Hldgs
EUR0.001 Ordinary Shares
Procter & Gamble Co
NPV Common Stock
Rathbones Asset MGMT
High Quality Bond S Dist
Regional Reit Ltd
NPV Ordinary Shares
Relx Plc
14.44p Ordinary Shares
RHI Magnesita NV
EUR1.00 Ordinary Shares DI
Rio Tinto Plc
10p Ordinary Shares
Roche Holdings AG
Genusscheine NPV Shares
Rohm Co Ltd
NPV Shares
Rohto Pharmaceutical Co Ltd
NPV Shares
Sainsbury J Plc
28 4/7p Ordinary Shares
**Carried forward**||**A**|**t 1January 2023**||**Additions**|||**Disposals**||**At 31**|**Market Value**
**December 2023**
2,905,020
50,179
29,394

-
61,489
43,264
28,605
35,646
19,814
401,463
31,407
86,724
40,533
20,566
40,947

-
81,310

-
43,800

-

-
65,584

-

-
21,222
19,245
94,998

-
244,544
25,463
42,141

-
80,620
39,650
39,698
20,565

-
4,613,891|**Net Income**| |---|---|---|---|---|---|---|---|---|---|---|---|---| ||**Holding**
6,085,246
26,582
11,706
197
76,000
90,681
45
-
8,909
527,824
507
245
446
1,804
1,000
310,000
-
683
3,252
235
15,000
64,000
-
6,639
4,554
480
11,800
293
300,000
72,337
1,355
724
1,380
174
660
-
6,000
7,630,758|**Book Value**|**Market Value**|**Quantity**


-

-

-

-

-

-
9,301

-

-

72

49

-

-

-

-
1,242

(621)

-

-

-

-
1,500

-

-

-

-

-

-

-

-

-

-

-

1,980
1,300

-|**Cost**|**Quantity**
**Proceeds**
610,765

-
-

-
-
197 63,634

-
-

-
-

-
-
-
-

-
-

-
-
-
-
-
-

-
-

-
-

-
-
310,000 22,958
240 17,790
62 8,173

-
-
235 11,460
15,000 15,789

-
-
1,500 12,546

6,639 43,087

-
-

-
-

1,233 10,305
293 33,137
30,500 27,017

-
-

-
-
724 20,286

-
-

-
-

-
-
-
-

6,000 16,534
913,481||**Profit/(Loss)**|**Holding**
26,582
11,706
-
76,000
90,681
45
9,301
8,909
527,824
579
294
446
1,804
1,000
-
1,002
-
3,252
-
-
64,000
-
-
4,554
480
10,567
-
269,500
72,337
1,355
-
1,380
174
2,640
1,300
-|**Book Value**||| |||2,461,063
29,408
24,085
30,217
70,087
66,400
27,197
-
17,936
404,127
30,622
43,950
25,975
25,925
30,319
27,276
-
32,432
43,262
36,578
15,294
75,193
-
46,907
21,555
24,694
66,700
29,292
301,014
73,502
19,986
21,570
49,033
31,023
42,623
-
12,598|
3,141,265

47,130

29,206

53,309

56,733

41,178

27,145

-

16,736

446,908

27,669

48,845

42,937

19,348

34,855

25,487

-

76,435

17,356

13,914

15,395

64,100

-

46,539

21,723

21,736

88,361

36,917

261,900

42,679

31,002

16,102

80,012

45,419

39,629

-

13,062||328,808
-
-
-
-
-
-
39,097
-
-
4,477
9,398
-
-
-
-
29,488
(29,488)
-
-
-
-
16,829
-
-
-
-
-
-
-
-
-
-
-
-
23,837
-|||
44,600

-

-

33,417

-

-

-

-

-

-

-

-

-

-

-

(4,318)

12,092

5,230

-

(25,118)

495

-

(4,283)

(3,820)

-

-

3,336

3,845

(3,586)

-

-

(1,284)

-

-

-

-

3,936||2,223,706

29,408

24,085

-

70,087

66,400

27,197

39,097

17,936

404,127

35,099

53,348

25,975

25,925

30,319

-

23,790

-

43,262

-

-

75,193

-

-

21,555

24,694

59,731

-

270,411

73,502

19,986

-

49,033

31,023

42,623

23,837

-||96,333
1,233
2,299
597
2,057
2,285
366
-
1,773
22,905
1,681
557
761
503
927
359
-
787
-
-
-
4,240
144
2,043
2,095
771
3,281
373
8,831
4,449
757
739
4,458
940
601
72
552| |||4,257,843|4,991,032||422,445||913,481|64,542||3,831,348||169,769| ## **THE HAREBELL CENTENARY FUND** A P P E N D I X : I N V E S T M E N T P O R T F O L I O ## **Year ended 31 December 2023** |**Name**
**Security Type**
**Brought forward**
Sandfire Resources Ltd
NPV shares
Sandvik AB
NPV Shares
Sanwa Holdings Corp
NPV shares
Savills Plc
2 1/2p Ordinary Shares
Schneider Electric SE
EUR4 Shares
Sekisui Chemical Co
NPV Shares
Sensirion Holding AG
CHF0.1 Shares
Sequoia Economic Infrastructure
NPV Ordinary Shares
Seven & I Holdings Co Ltd
NPV shares
Severn Trent Plc
97.89p Ordinary Shares
Shell PLC
EUR0.07 Ord Shs UK Quote
Shin-Etsu Chemical Co
NPV Shares
Shoei Co Ltd
NPV Shares
Redcare Pharmacy NV
EUR0.02 Shares
Singapore Airlines
3.03% Snr EMTN
Snam Spa
NPV shares
Spirax-Sarco Engineering PLc
26.9230769p Ordinary Shares
Sociedad Quimica Y Minera ADR
Each Rep 1 Ser B Pref Shs
Sony Corp
NPV shares
Standard Chartered
USD0.50 Ordinary Shares
Sweden Kingdom of
1% Index Lkd Snr 1/06/2025
Swiss Re AG
CHF0.1 Shares
TAG Immobilien AG
NPV shares
Tharisa Plc
USD0.001 Ordinary Shares
Thermo Fisher Scientific Inc
USD1 Common Stock
Tokyo Electron Ltd
NPV Shares
Topcon Corporation
NPV shares
Treasury
0% T-Bill 22/01/2024
Treasury
1/2% Snr 22/10/2061
Treasury
1/4% Gilt 31/07/2031
Treasury
1/8% I/L Stock 22/03/2026
Treasury
4 1/4% Stock 7/03/2036
Treasury
7/8% Bonds 31/01/2046
Treasury
1/8% I/L Stock 22/03/2029
Treasury
1/8 % I/L Gilt 10/08/2028
**Carried forward**
18||**A**|**t 1January 2023**||**Additions**|||**Disposals**||**At 31**|**Market Value**
**December 2023**
4,613,891
41,351
39,810
30,104
44,574
49,145
27,142
40,808
152,613
21,792

-
179,722
38,685
25,718
28,378
65,752
38,255
26,263
26,265
44,396
51,728
55,075
47,591
85,483
10,586

-
50,588
26,641
269,228
20,385
32,781
42,292
36,143
28,532
38,558
43,870
6,374,145|**Net Income**| |---|---|---|---|---|---|---|---|---|---|---|---|---| ||**Holding**
7,630,758
-
2,345
2,530
4,600
263
1,950
443
178,704
-
862
6,989
235
1,156
250
110,000
9,484
-
556
595
7,760
-
540
7,423
16,286
82
-
3,150
-
-
-
-
-
-
24,000
32,000
8,042,961|**Book Value**|**Market Value**|**Quantity**

10,525

-

-

-

49

450

82

-
700

-

-

940

1,356

-

-

-
250

-

-

-
545,000

-

-

-

-
360

-
270,000
60,000
41,400
29,000
34,000
53,000

-

-|**Cost**|**Quantity**
**Proceeds**
913,481
-
-

-
-

-
-

-
-
-
-
-
-
-
-

-
-
-
-
862 23,061

-
-

-
-
-
-

-
-

-
-

-
-
-
-

-
-

-
-

-
-
-
-

-
-

-
-

-
-
82 33,778
-
-

-
-
-
-
-
-
-
-
-
-
-
-
-
-

-
-

-
-
970,321||**Profit/(Loss)**|**Holding**
10,525
2,345
2,530
4,600
312
2,400
525
178,704
700
-
6,989
1,175
2,512
250
110,000
9,484
250
556
595
7,760
545,000
540
7,423
16,286
-
360
3,150
270,000
60,000
41,400
29,000
34,000
53,000
24,000
32,000|**Book Value**||| |||4,257,843
-
42,246
19,934
29,793
34,715
23,576
31,744
181,689
-
14,639
99,145
20,645
19,764
22,565
64,506
37,223
-
36,558
29,700
95,093
-
38,081
53,064
21,049
37,359
-
27,712
-
-
-
-
-
-
38,529
38,887|
4,991,032

-

35,249

19,463

37,973

30,502

22,668

39,010

156,902

-

22,852

162,564

24,023

37,364

9,910

67,615

38,093

-

36,903

37,619

48,298

-

41,962

39,614

15,960

37,540

-

30,385

-

-

-

-

-

-

35,984

40,758||422,445
36,707
-
-
-
6,823
5,291
5,524
-
25,953
-
-
-
3,127
-
-
-
22,811
-
-
-
53,238
-
-
-
-
42,431
-
269,022
17,782
30,597
41,114
33,981
26,680
-
-||913,481
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
23,061
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
33,778
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|
64,542

-

-

-

-

-

-

-

-

-

8,422

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(3,581)

-

-

-

-

-

-

-

-

-

-||3,831,348

36,707

42,246

19,934

29,793

41,538

28,867

37,268

181,689

25,953

-

99,145

20,645

22,891

22,565

64,506

37,223

22,811

36,558

29,700

95,093

53,238

38,081

53,064

21,049

-

42,431

27,712

269,023

17,782

30,597

41,114

33,981

26,680

38,529

38,887||169,769
-
634
715
1,651
537
648
-
12,286
178
921
6,956
564
770
-
2,006
1,667
-
1,865
223
1,254
-
1,774
-
924
36
184
624
-
-
52
26
361
140
46
53| |||5,316,059|6,060,243||1,043,527||970,321|69,383||5,458,649||206,864| ## **THE HAREBELL CENTENARY FUND** A P P E N D I X : I N V E S T M E N T P O R T F O L I O ## **Year ended 31 December 2023** |**Name**
**Security Type**
**Brought forward**
Treasury
1/8% I/L Stock 22/03/2024
Treasury
0% T-Bill 11/04/2023
Treasury
0% T-Bill 24/04/2023
Treasury
0% T-Bill 17/04/2023
Treasury
0% T-Bill 5/06/2023
Treasury
0% T-Bill 11/09/2023
Treasury
0% T-Bill 4/12/2023
Treasury
0% T-bill 30/10/2023
Tritax Big Box REIT Plc
1p Ordinary Shares
Unilever Plc
3 1/9p Ordinary Shares
United Utilities Group Plc
5p Ordinary Shares
Vanguard Intl Equity
FTSE Emerging Markets Idx ETF
Vanguard Investments
S&P 500 UCITS ETF Inc GBP
Verisk Analytics Inc
USD0.001 Common Stock
Visa Inc
USD0.0001 Common Stock
Vodafone Group Plc
USD0.2095238 Ordinary Shares
Volkswagen AG
NPV Non Vtg Pref Shares
Wisdomtree Commodity Secs Ltd
Agriculture DJ-AIGCI
Wisdomtree Metal Secs Ltd
Daily Hgd Pysical Gold GBP
Woodside Energy Group Ltd
NPV Ordinary Shares
Zurich Finance IRE Plc
5.125% Flt Rt Gtd Sub 23/11/52
**Carried forward**||**A**|**t 1January 2023**||**Additions**|||**Disposals**||**At 31**|**Market Value**
**December 2023**
6,374,145
158,375

-

-

-

-

-

-

-
43,012
70,680

-
114,550
551,718

-

-
22,131

-
92,755
121,000
25,544
58,078
7,631,989|**Net Income**| |---|---|---|---|---|---|---|---|---|---|---|---|---| ||**Holding**
8,042,961
102,500
-
-
-
-
-
-
-
25,466
1,860
3,835
1,911
337
253
230
32,280
231
8,323
11,183
1,536
60,000
8,292,906|**Book Value**|**Market Value**|**Quantity**


-
100,000
130,000
230,000
300,000
350,000
300,000
250,000

-

-

-

1,642

7,445

-

-

-

-

10,017

-

-

-|**Cost**|**Quantity**
**Proceeds**
970,321

-
-
100,000 100,000
130,000 130,000
230,000 230,000
300,000 300,000
350,000 350,000
300,000 300,000
250,000 250,000

-
-

-
-

3,835 40,724
-
-
-
-
253 49,736
230 44,202

-
-
231 24,107
-
-

-
-

-
-

-
-
2,789,091||**Profit/(Loss)**|**Holding**
102,500
-
-
-
-
-
-
-
25,466
1,860
-
3,553
7,782
-
-
32,280
-
18,340
11,183
1,536
60,000|**Book Value**||| |||5,316,059
123,018
-
-
-
-
-
-
-
28,308
28,364
33,524
62,729
15,183
35,674
36,506
73,568
32,341
47,538
97,401
28,571
54,967|
6,060,243

153,034

-

-

-

-

-

-

-

35,296

77,785

38,020

61,926

20,380

37,106

39,725

27,193

23,848

46,526

108,279

30,566

54,874||1,043,527
-
99,687
129,600
227,870
299,058
345,870
298,797
249,001
-
-
-
56,013
490,129
-
-
-
-
53,717
-
-
-|||
69,383

-

313

400

2,130

942

4,130

1,203

999

-

-

7,200

-

-

14,062

7,696

-

(8,234)

-

-

-

-||5,458,649

123,018

-

-

-

-

-

-

-

28,308

28,364

-

118,742

505,313

-

-

73,568

-

101,255

97,401

28,571

54,967||206,864
194
-
-
-
-
-
-
-
1,840
2,792
1,745
3,368
1,593
231
212
2,525
4,113
-
-
2,832
3,076| |||6,013,751|6,814,801||3,293,267||2,789,091|100,224||6,618,155||231,385|