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|Trustees'<br>Annual<br>Report||2-4|
|Independent<br>Examiner's|Report||
|Statement ofReceipts and Payments|||
|Statement ofBalances|||
|Notes to the Accounts|||





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||||Note|Restricted|Expendable|Total|Total|
|---|---|---|---|---|---|---|---|
|||||funds|endowment|funds|funds|
||||||funds|2023|2022|
||||||5||E|
|Receipts||||||||
|Dividends<br>received||||63,267||63,267|64,457|
|Investments<br>income||||35,876||35,876|40,035|
|RBSbank int||||188||188||
|Sub Total||||99,331||99,331|104,492|
|Receipts from asset Sinvestment||||||||
|sales||||||||
|Proceeds from sale of investments||||||||
|less amount<br>reinvested<br>Total receipts||||99,331|(50)<br>~50|(50)<br>99,301|(4,487)<br>100,005|
|Payments||||||||
|Payments<br>made to beneficiaries|||4|115,381||115,381|134,052|
|Governance<br>costs:||||||||
|Trustees fees|||||44,446|44,446|36,995|
|Independent<br>examination||fee|||1,344|1,344|1,224|
|Portfolio management|fee||||12,303|12,303|13,523|
|Total payments||||115,381|58,093|173,474|185,794|
|Net receipts I(payments)||||(16,050)|(58,143)|(74,193)|(85,789)|
|Transfers to I(from) funds||||||||
|Surplus/(Deficit)<br>for year||||~30,000|~00,843|~34103|~00,309,|





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|||||Restricted||Expendable|Expendable|Total|Total|
|---|---|---|---|---|---|---|---|---|---|
|||||funds||endowment||funds|funds|
||||||||funds|2023|2022|
||||||||6|6|E|
|Cash funds||||||||||
|Cash and bank balances|||at start ofyear|120,493|||74,253|194,746|280,535|
|Surplus/(deficit)<br>shown||on receipts and||||||||
|payments|account|||(16,050)|||(58,143)|(74,193)|(85,789)|
|Cash and bank balances at end ofyear||||104,443|||15,110|120,553|194,748|
|||||||||Market valuation||
|||||||||2023|2022|
||||Fund to which|||asset|belongs|8|6|
|Investments||||||||||
|Brown Shipley Investment|||Porffolio|||||||
||Fixed interest||Expendable||endowment|||1,058,964|795,652|
||Equities||Expendable||endowment|||2,099,528|2,384,166|
||Alternatives||Expendable||endowment|||212,477|216,272|
|Total value ofsecurities||||||Total||3,370,969|3,396,090|
|||||||||2023|2022|
|||||||||E|E|
|Assets||||||||||
|Tax paid on investments|||that will be reclaimed|||||||
||Prior years|||||||397|962|
|||||||||397|982|
|Liabilities||||||||||
|Examiner|Fees owed to|Azets Audit Services||||||1,410|1,344|
|Trustee Fees owed to Apex Corporate Trustees||||(UK) Limited||||300|300|
|||||||||1,710|1,644|





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|Payments||made to beneficiari|es||||
|---|---|---|---|---|---|---|
||||||2023|2022|
||||||8|8|
|Fight for Sight - Institute ofOphthalmology|||||40,000|40,000|
|Moorfields||Eye Charity|||40,000|40,000|
|Roper Hall||Eye Foundation|||35,381|54,052|
||||||115,381|134,052|
|Investments|||||||
||||||Market|Valuation|
||||||2023|2022|
|Investments||that individually|make up|5'%%d +ofthe portfolio:|5|5|
|Fundsmith|LLP Equity INC NAV|||||183,894|
|3 P Morgan||US Equity Income Fund||||216,577|
|||||||400,471|



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