**The David Webster Charitable Trust (Registered Charity No. 1055111)** **Accounts** **for the year ended 27 November 2022** ## **The David Webster Charitable Trust** ## **Contents** |**Pages**|**Index**| |---|---| |.1 - 4|Trustee’s Annual Report| |-5|Independent Examiner’s Report| |-6|Statement of Financial Activities| |-7|Balance Sheet| |8 - 10|Notes to the Financial Statements| |11 - 16|Investment Schedule| ## **The David Webster Charitable Trust** ## **Trustees Annual Report** ## **for the year ended 27 November 2022** The trustees present their annual report and financial statements of the charity for the year ended 27 November 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019. ## **Reference and Administrative Details** |**Name of the Charity:**|The David Webster charitable Trust| |---|---| |**Charity Registration No:**|1055111| |**Trustees:**|Thomas Webster| ||Nikola Thompson| ||If new or additional trustees are appointed they will be encouraged| ||to receive appropriate training depending on their qualifications and| ||experience| |**Principal Office address:**|Taylor Walton Solicitors| ||TW House| ||Station Approach| ||Harpenden| ||Hertfordshire| ||AL5 4SP| |**Reporting Accountants:**|Mercer & Hole Trustees Limited| ||21 Lombard Street| ||London| ||EC3V 9AH| |**Bankers**:|Lloyds| ||5 – 6 Market Place| ||Hertford| ||Hertfordshire| ||SG14 1DF| |**Investment Managers:**|Nedbank Private Wealth Limited| ||Seventh Floor| ||12 Arthur Street| ||London| ||EC4R 9AB| |**Independent Examiner:**|Steve Robinson| ||Mercer & Hole LLP| ||21 Lombard Street| ||London| ||EC3V 9AH| Page 1 ## **The David Webster Charitable Trust** ## **Trustees Annual Report** **for the year ended 27 November 2022** (continued) ## **Structure, Governance and Management** |**Governing Document:**|The principal governing document is a Charitable Trust Deed| |---|---| ||dated 27 November 1995**.**| |**Settlor**:|The Charitable Trust Deed was settled by David Charles Webster.| |**Assets settled:**|Unlisted investments, 60,519 DW Group Holdings Limited Ordinary| ||shares.| |**Appointment of**|The trustees may appoint any company or Trust Corporation to be| |**Trustees:**|an additional or the sole trustee. The trustees (other than the settlor| ||and any husband of the settlor) shall be entitled to charge all usual| ||professional charges for work done by him or his firm in connection| ||with the execution of the trusts hereof. The maximum number of| ||trustees allowed under the trust deed is 5.| ||If new or additional trustees are appointed they will be encouraged| ||to receive appropriate training depending on their qualifications and| ||experience.| |**Investment Powers:**|The trustees have very wide powers of investment and have| ||appointed Netbank as their investment managers.| ||Netbank manage the investments on a discretionary basis.| ||The major part of the income of the charity is derived from its| ||investments. The investment managers’ objective is to maximise| ||total return with due regard to risk. The trustees regularly review| ||with the investment managers the income requirement and capital| ||base.| |**Management and**|The trustees have control and overall responsibility for the| |**Control:**|day-to-day management of the charity.| |**Risk management:**|At the time of approving the financial statements, the trustees have| ||a reasonable expectation that the charity has adequate resources| ||to continue in operational existence for the foreseeable future. Thus| ||the trustees continue to adopt the going concern basis of accounting| ||in preparing the financial statements.| Page 2 ## **The David Webster Charitable Trust** ## **Trustees Annual Report** **for the year ended 27 November 2022** (continued) ## **Objectives and Activities** |**Objectives and Policies:**|The trust was established to make grants for charitable purposes in| |---|---| ||any part of the world as the trustees shall think fit at their discretion.| ||The trustees have power to pay or apply the whole or any part of the| ||income or capital of the trust fund to any purpose body| ||organisation(s) or object(s) which under the law of England shall be| ||recognised as exclusively charitable.| |**Grant making policy:**|The trustees receive applications for grants and consider each one| ||of the applications at their formal/informal meetings.| ||The trustees’ general policy is to aim to distribute each year the| ||income as it arises but from time to time they may also distribute| ||capital.| |**Public benefit:**|In applying such income and capital, the trustees are supportive of| ||such charitable causes that are for public benefit. Each year the| ||trustees review their objectives to ensure their aims are met. In| ||carrying out this review, the trustees have considered the Charity| ||Commissioners’ general guidance on public benefit.| |**Achievements and Performance**|| |**Review of activities:**|During the year the trustees have made donations amounting to| ||£132,000 (2021: £67,894).| |**Financial Review**|| |**Financial review:**|Total income was £27,438.22 (2021: £49,756) with expenditure| ||amounting to £157,569.90 (2021: £92,535). Net assets at the end of| ||the year were £1,550,133.92 (2021 £1,827,939). The value of the| ||investments decreased by £310,370.| |**Reserves:**|The policy of the trustees is to aim to distribute all the income as it| ||arises and not to accumulate reserves. They use their discretion to| ||distribute from capital from time to time.| |**Future plans:**|The trustees’ short term objective is to continue to make grants, as| ||set out above, for the benefit of charitable bodies.| Page 3 ## **The David Webster Charitable Trust** ## **Trustees Annual Report** **for the year ended 27 November 2022** (continued) ## **Respective responsibilities of trustees** ## **Accounting guidelines:** The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & 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: - a) select suitable accounting policies and then apply them consistently; - b) observe the methods and principles in the Charities SORP 2019 (FRS102); - c) make judgements and estimates that are reasonable and prudent; - d) state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; - e) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Statement of Recommended Accounting Practice: Accounting and Reporting by Charities (SORP 2019) UK Accounting Standards, the Charities Act 2011 and 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. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the Trust Deed, the Charities Act 2011 and the Statement of Recommended Practice: Accounting and Reporting by Charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019. Signed: .......................................................... on behalf of Trustees Dated: ...................................... Page 4 ## **The David Webster Charitable Trust** ## **INDEPENDENT EXAMINER'S REPORT TO THE Trustees of The David Webster Charitable Trust** I report to the charity trustees on my examination of the accounts of the David Webster Charitable Trust for the year ended 27 November 2022 set out on pages 1 to 16. ## **RESPONSIBILITIES AND BASIS OF REPORT** As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘The Act’). I report in respect of my examination of the charity’s accounts carried out in section 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. ## **INDEPENDENT EXAMINER'S STATEMENT** 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 be 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. I have no concerns and have come across no other 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. Signed: Steve Robinson FCA Mercer & Hole LLP 21 Lombard Street London EC3V 9AH Date: Page 5 **The David Webster Charitable Trust Dated 27 November 1995** ## **Notes to the Accounts** _**(contd... )**_ ## **for the year ended 27 November 2022** |**Notes**
**Investment income**
Income received
**3**
**Total income and endowments**
**Expenditure on:**
Costs of raising funds
Investment management costs
**4**
Charitable activities
**5**
**Total expenditure**
**Net gains/(losses) on currency exchange**
**Net gains/(losses) on investments**
**6**
**Impairment of unlisted investment**
**Net income/(expenditure)**
**Net movement in funds**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**2022**
**Unrestricted**
**Funds**
**£**
**27,438.22**
**27,438.22**
**18,369.90**
**139,200.00**
**( 157,569.90)**
**( 46,762.41)**
**( 100,910.99)**
**( 147,673.40)**
**( 277,805.08)**
**1,827,939.00**
**1,550,133.92**|2021
Total
£
49,763
49,763
18,245
74,290
( 92,535)
-
205,848
( 14,999)
190,849
148,077
1,679,862
1,827,939| |---|---|---| Page 6 **The David Webster Charitable Trust Dated 27 November 1995** ## **Notes to the Accounts** _**(contd... )**_ ## **for the year ended 27 November 2022** |**Notes**
**2022**
**£**
**£**
**Fixed assets**
Listed investments
at market value
**6**
**1,404,757.00**
**Total fixed assets**
**1,404,757.00**
**Current assets**
Balance with Bank
**27,120.91**
Balance with investment managers
**206,791.09**
**Total current assets**
**233,912.00**
**Current liabilities**
Creditors: Amounts falling due within one year
**7**
**88,535.08**
**88,535.08**
**Net current assets**
**145,376.92**
**Total net assets**
**1,550,133.92**
**The funds of the charity:**
**Unrestricted income funds**
**1,550,133.92**
**Total charity funds**
**1,550,133.92**
Approved by the trustees on ............................... and signed on their behalf by
............................................... (Trustee).|2021
£
£
1,715,127
1,715,127
84,121
35,026
119,147
6,335
6,335
112,812
1,827,939
1,827,939
1,827,939| |---|---| Page 7 **The David Webster Charitable Trust Dated 27 November 1995** ## **Notes to the Accounts** _**(contd... )**_ ## **for the year ended 27 November 2022** ## _d)_ **Expenditure recognition (continued)** The trustees do not employ fundraisers and therefore the only cost of generating funds are the fees payable to the fund managers for the management and holding of the investments which produce the bulk of the charity's income. All expenditure is accounted for on an accrual basis. Grants payable are charged in the statement for financial activities in the year in which the grant is authorised by the trustees. No remuneration has been paid to the trustees and they have not incurred any expenses during the year. No staff are employed by the Charity. The costs of raising funds consist of investment management costs. ## _e)_ _**Charitable activities**_ Costs of charitable activities include grants made, governance costs and administration cost in the pursuit of the charitable objects of the charity. ## _f)_ _**Cash at bank**_ Cash at bank is held to meet the day to day running costs of the charity as they fall due. ## _g)_ _**Creditors**_ Creditors are amounts owed by the charity. They are measured at the amount that the charity expects to have to pay to settle the debt. ## _h)_ _**Fixed asset investments**_ Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors. ## _i)_ _**Realised gains and losses**_ Realised gains represent the profit by comparing the net proceeds of sale of investment with the market value of that investment as at 5 April 2021 or subsequent cost. Unrealised gains represent the difference in market value at 5 April 2022 as compared with the market value at 5 April 2021 or subsequent cost. ## **2. Related party transactions and trustees’ expenses and remuneration** The charity’s trustees give their time freely and receive no remuneration for the work that they undertake as trustees. However, they can claim expenses to reimburse them for costs that they incur in fulfilling their duties. During the year the trustees' remuneration and re-imbursed costs were £nil (2021: £nil). During the year the Charity received dividends of £ 0.00 (2021: £12,104) from Brent Lighting Limited. The David Webster Charitable Trust owns 23.35% of the shares in Brent Lighting Limited. The Trustees of David Webster Charitable Trust own the remaining 76.65% either personally, or as trustee of family settlements. Page 8 **The David Webster Charitable Trust Dated 27 November 1995** ## **Notes to the Accounts** _**(contd... )**_ ## **for the year ended 27 November 2022** |**3. Investment income**
**2022**
**£**
UK dividends and interest
**27,385.05**
Interest
**53.17**
**27,438.22**
**4. Cost of raising funds**
**2022**
**£**
Investment management charges
**18,369.90**
The investment management costs are all attributable to endowment funds.
**5. Charitable activities**
**2022**
**Grants to institutions**
**£**
Bat Conservation Trust
**2,000.00**
Birdlife International
**55,000.00**
Isabel Hospice
**75,000.00**
**132,000.00**
**Classification of donations**
Animals (1)
**2,000.00**
Human Services
**75,000.00**
International (1)
**55,000.00**
**132,000.00**
**Analysis of charitable expenditure :**
**Governance costs**
**2022**
**£**
Accountant's charges
**4,800.00**
Independent examination fees
**2,400.00**
Bank charges
**-**
**7,200.00**
**Total charitable activities**
**139,200.00**
**6. Fixed asset investments**
**2022**
**_Movement in fixed asset listed investments_**
**£**
Market value at 27 November 2021
**1,715,127.00**
Purchases
**716,168.26**
Disposals
**( 925,627.27)**
Net realised investment gains/(losses)
**36,811.88**
Net unrealised investment gains/(losses)
**( 137,722.87)**
Market value at 27 November 2022
**1,404,757.00**
Historical cost at 27 November 2022
**1,351,529.21**|2021
£
49,756
7
49,763
2021
£
18,245
2021
£
2,000
65,894
67,894
2,000
65,894
67,894
2021
£
3,222
3,174
-
6,396
74,290
2021
£
1,618,071
752,085
( 860,877)
205,848
-
1,715,127
1,525,271| |---|---| All investments are carried at their fair value. The basis of fair value for quoted investments is equivalent to the market value, using the bid price. Asset sales and purchases are recognised at the date of trade at cost (that is their transaction value). Page 9 **The David Webster Charitable Trust Dated 27 November 1995** ## **Notes to the Accounts** _**(contd... )**_ ## **for the year ended 27 November 2022** The main risk to the Trust from financial instruments lies in the combination of uncertain investment markets and volatility in yield. The charity manages these investment risks by retaining expert advisors. |**7. Analysis of liabilities**
**_Amount falling due within one year_**
Donation
Accountancy fees
Mercer and Hole LLP
RSM UK Limited
Independent examination fees
Mercer and Hole LLP
RSM UK Limited|**2022**
**£**
**75,000.00**
**-**
**4,800.00**
**3,222.08**
**2,400.00**
**3,113.00**
**88,535.08**|2021
£
-
-
-
3,222
-
3,113
6,335| |---|---|---| ## **8. Control** The trust is controlled by the trustees. ## **9. Analysis of net assets between funds** |Unrestricted
**Prior year comparative**
Unrestricted|**Fixed Assets**
**1,404,757.00**
**1,404,757.00**
**Fixed Assets**
**1,715,127.00**
**1,715,127.00**|**Net Current**
**Assets/Liabilities**
**145,376.92**
**145,376.92**
**Net Current**
**Assets/Liabilities**
**112,812.00**
**112,812.00**|**Total**
**1,550,133.92**
**1,550,133.92**
**Total**
**1,827,939.00**
**1,827,939.00**| |---|---|---|---| Page 10 Trustees of the Davld Webster Charltable Trust Schedule of Investments and Iucome Year ended 27th November 2022 Holdin 2811112021 B(H)k I'alu 2811112021 Addition5 Quantity Di5posa15 Qu*ntity Procetds Profit Ilffj$$l Holdin 2711112022 Book Value Market Value 2711112022 2711112022 Net lucome Cost 31 Iiifr&£lrucluTe OrdinarN' No Par Value 10.310 30,473.31 446.96 4.387.40 10.751.96 1,467.35 506.56 1,169.08 78.05 3.32.50 206.20 476.94 3,235 469 5.424 16,067.25 17,587 Balanbed Comm Property TtU91 Ordinary (iBPO.01 Changed Ironi Bmo commercial Property Trllsl Ltd Ordinary tiBPO.01 on 04..'0712022 25,849 16,236.96 1,228.10 1,268 4?0 1.419.76 412.48 1,185.09 968.09 5,554.76 6,564.21 62.3.27 148.66 482.19 386.43 2,586.77 2,924.73 77.54 77.54 77.54 73.74 69.13 66.35 70.77 70.77 55.65 926 4,725 5,794 40.82 40.82 12.755 8,512.72 1,792 Brcnl LIBhting Lid 25p urdinary shate5 60,512 1.00 100,5121 (i.fx)I Dod¥)¢ & Cox Worldw1d¢ Glob£11 Stock Fund USD Acc Cls 8,568.27800 143,782.40 293.18100 6,567.94 ,482.14 570.250 1,774.102rAI 2.953.21600 203.99?00 13.374.79 40,016.78 67,000.35 4,794.29 3,699.49 9,598.86 16,365.72 1,296.74 1,482.14 3,359.88900 57,607.08 79,005 Etnpiric Student PTOP PIC fjBPO.01 3,750 3,286 3.372.52 3,254.57 18.75 7,036 6,627.09 6,357 Etfs Metal securities Ltd F.rfs Physi¢21 Gold (Gbp) 38 38 5,801.16 5,483 Pag¢11 Trustees of the Davld Webster Charltable Trust Schedule of Investments and Iucome Year ended 27th November 2022 Holdin 2811112021 B(H)k I'alu 2811112021 Addition5 Quantity Di5posa15 Qu*ntity Procetds Profit Ilffj$$l Holdin 2711112022 Book Value Market Value 2711112022 2711112022 Net lucome Cost Fund£illiili Llp r.quiiy T Ihs¢l Acc Nav 12,755.53000 65,614.28 2.30 2.522.30 55.983.45 37.923.30 68.53 3,712.25 1.300.6801XI 7.515.33 379.71 2..10 68.53 406.080(K) 9,707.72000 6.68.3.58000 673.900( 28.926.13000 158.690.79 167,378 Gcp Asset Backed Income Fund Ltd Ordinary No Par Value 31.837 30,336.14 ?2,734 17.949.88 13,712.391 501.43 501.43 503.42 503.42 9,103 8,673.87 7,647 Gor¢ Sircti Encrgy Storag¢ Fund Pl¢ Odinary GBPO.01 IV,469 499 1,226 1,704 11,573.4¥ 616.49 ,479..30 ,984.69 109.68 277.96 13.898 15,653.96 15,705 Cireenc(ial Renew'ahles PIC EURO.01 13.694 14,923.40 6,503 194 0,594.65 196.40 7.285 593 3,251 7.398.44 028.18 3,451.47 (540.581 4.89 34.4(J 132.37 129.36 135.37 130.43 9,262 9,735.13 9.283 Grc¢n¢oal UK Wind PIC 0￿Inary GBPO.01 21,831 29,698.63 1,436 ,895.52 2,485 1,563 6,469 516 9,290 3,844.95 2,358.94 9.995.93 470.58 236.55 391.87 417.64 370.93 246.08 139.42 692.40 3,801.98 9,944 13,502.92 15298 Gresham House Energy Stora8¢ Fd PIC 0￿Inary GBPO.01 1,841 6,715 792 779 2,669.45 10.607.38 1,238.34 1,449 2,3f1.87 56.41 95.46 8.678 13,506.91 14,123 Pag¢ 12 Trustees of the Davld Webster Charltable Trust Schedule of Investments and Iucome Year ended 27th November 2022 Holdin 2811112021 B(H)k I'alu 2811112021 Addition5 Quantity Di5posa15 Qu*ntity Procetds Profit Ilffj$$l Holdin 2711112022 Book Value Market Value 2711112022 2711112022 Net lucome Cost Ilipgnosis Songs Fund Lid OrdinarN' No Par Value 19.405 23,069.39 -167 3,098 972 3,609 1,150 495.78 3.469.12 1.067.gu 3.220.85 ,018.53 1.482 2.244 1.727.51 1,982.67 124..141 (572.591 254.69 259.51 2¥0.72 293.48 24.875 28,034.36 20,758 Itnpacl Healthcare REIT plc Regist¢red shares 14,528 622 739.23 1,226 1,869 756 1.444.97 2.327.75 878.09 155.59 362.12 83.ul 194.?2 1.299 1,762 147.79 IshaTe% Ishares Fts¢ 250 Fund 1,594.00 34,206.77 138.1)n 2,796.07 0.32 523.00 1,209.1 10,229.95 23,220.34 1943.541 12,609.331 155.26 100.42 .32 Ibhares Dj Euw Sioxx Mid Cap Fund 2,014.OfX)00 121,545.02 66.OOOfX) 171.00000 3,945.54 9,285.82 2.8 360.00000 1,891.00000 19,415.53 104,534.46 264.35 53.08 2.8S 18,690.161 18hare£ FL£e EPr￿narelI Cjhl Prpty USD 3,232.00000 56,243.84 138.OOOiYJ 505.001100 651.00000 95.00000 3.020.07 10.291.34 13.797.06 1,778.35 618.57 1,503.24 2.468.24 125.14 399.39 509.3 1,843.00000 32,072.21 34,639 Isharcs li PIC USD Tips Uciis GBP Dis Hdg 3,241.(KlOOO 887 00000 1,320.(KJOOO 17,078.71 4.428.79 6,407.22 452.00000 2,173.70 (14•.281 52.50 4,996.00000 25,59R.74 24,338 IshaTes PIC Ms¢1 Japan IAc¢)usdlGbx} 906.OIKJOO 33,701.71 188.69 1,905.40 13.083.60 45.IKJOiXI 1,575.43 164.821 188.69 53.000(J) 382 00000 1,296.OOQOO 47.239.15 46,721 Pag¢ 13 Trustees of the Davld Webster Charltable Trust Schedule of Investments and Iucome Year ended 27th November 2022 Holdin 2811112021 B(H)k I'alu 2811112021 Addition5 Quantity Di5posa15 Qu*ntity Procetds Profit Ilffj$$l Holdin 2711112022 Book Value Market Value 2711112022 2711112022 Net lucome Cost Ishares li. PIC r.dg¢ Ms¢i Wrld Val Fac Uciis r.lf Usd D1S 31.501.0(N)00 568.OOOfY) 2,0￿.48 673.000 11.7)3.00000 6.880.00000 1,008.00000 2,591.15 44,552. 25.420.97 3.706.88 52.82 336.82 1528.121 188.831 11,785.00000 1,557.24 2,200.85 44,377.43 46,460 Ishares Vil PIC Ishares Fts¢ 100 Ucits Eff IAccl 277.0(J)00 33,732.69 967.36 20.000 120.OUOO 240.00000 2,647.05 16,003.20 29.472.76 141.63 899.U3 1735.591 967.36 103.UUOOO Ishares Vii PIC Isharcs S&p 500-B Uciis Eif CA￿) 31 I.ODUOO 98,621.69 23.17 13.UOOOU 51.OQOOO 4,542.98 1,223.17 22 OQOOO 275.0001 49.00000 122.00000 17 OQOi)Q 193.1)9 93,084.87 1 5,908.44 43,207.90 5.658.68 732.01)QOO 243.664.44 251.825 Jlen EnviTvnmental Assets. G￿llP Lid Ordinary Par Value 21,952 25,241.59 5,471 6.654.42 2,685 13,850 975 2,143 2.9?2.66 16.482.92 1.267.84 2,721.74 1164.701 557.45 373.IE 373.18 327.54 193.81 186.04 7,770 9,193.82 9,837 Kba Consulliiig Management Limited Atlas Gbl Infrstr B USD Dis Hgd 381.22340 33,852.70 154.63370 34.01230 15,474.87 3,105.38 41.10260 4,194.70 544.78 472.70 615.02 528.76680 48,783.03 54,117 Lord Abbeii Global Funds I PIC LuTd Abbeit Short DUT InL J G151' Hgd Di cl￿nged froin Lord Abbett Passport Portfolios PIC Short Duration Incotne J GBP Dis HdE on 1410212022 1.781 71700 16,461.25 ,162 35200 10.542.53 1197.601 29.86 41.92 13.73 619.38500 5,723.12 5.618 Pag¢ 14 Trustees of the Davld Webster Charltable Trust Schedule of Investments and Iucome Year ended 27th November 2022 Holdin 2811112021 B(H)k I'alu 2811112021 Addition5 Quantity Di5posa15 Qu*ntity Procetds Profit Ilffj$$l Holdin 2711112022 Book Value Market Value 2711112022 2711112022 Net lucome Cost MoTgan Stanley InTrestmenl Funds Global Rrands z usfj Acc Nav 1,102.98000 70,620.41 799.81 IfYI 609.24900 57.67400 60.083.17 44.614.12 4.186.67 33.329(K) 176.79100 2,481.05 13,428.68 347.10 1,065.61 2.-359.59400 165.007.35 Oakley Capital Investments Ltd Ordinaiy (iBPO.UI 2,549 451 935 1,672.26 3,562.77 491 1,375 1,996.45 5,315.43 239.11 284.62 57.35 46.55 2,069 7,569.99 8.876 Pimco Funds (ilobal Invest015 Series Global Inv Grade Cred Hdgd Instl Inc Nav 2,109.32900 382.2 loon 675.8571 2,595.5250U 25,185.39 4.498.61 7,718..%6 29,744.72 1,727.28200 18,861.92 11,269.681 278.89 560.61 4,035.63900 47,035.6¥ 45,U7¥ Princess PriNatL' Equiiy Hldgs Ordinary ELRO.001 674 7,951.23 48 29 38 594.58 345.95 455.39 69.65 31.32 276.79 1,160.50 3,224.76 510.86 129.35 396.Q5 48.83 48.00 363.54 476.43 2,173.04 173.721 119.661 162.441 18.481 192.79 257.78 40 26 107 2W 38 53 238 172.031 1555.001 788 9.032.35 6.061 Round Hill Music Royalty Fund Ltd Ordinary No Par Value 23,735.30 21,390 17,757.13 1,448.69 263.43 264.71 381.91 285.00 99.34 9,741 7,426.86 6,322 SdLI Enet¥y Efficiency In¢ Tst Ple Oidinary GBPO.01 4,807 5,578.05 1,357.33 5,970.53 C).631.59 457.60 3,477 4,226.22 169.37 154.41 217.92 -%,041 5.755 373 Pag¢ 15 Trustees of the Davld Webster Charltable Trust Schedule of Investments and Iucome Year ended 27th November 2022 Holdin 2811112021 B(H)k I'alu 2811112021 Additions Quantity Di5posa15 Qu*ntity Procetds Profit I1￿$$) Holdin 2711112022 Book ￿'alue Market Value 2711112D22 2711112022 Net lucome Cost Sdcl Energy Efficiency Inc Tsl PIC OrdinarN' GRPO.01 887 1,054.24 14.528 16.992.49 15,327 Ssga Spdr Elfs Europe T PIC Spdr S&p US Micl¢#p 400 EI(USD 2.896.0(MOO 167,989.29 54.00000 1,600.00000 714.00000 528.00000 3,181.26 96,681.69 40.444.67 32.903.53 48.86 3,869.93 1972.581 2,275.65 Target Healihcare Reli PIC Oniinary GBPI 36,879 41,445.10 1,147 1,377.49 26,034 27,972.15 11,345.771 498.61 11.992 13,504.67 9,684 202.66 ThL R¢ncwabl¢s Tnfragtruciurc Grp Ordinary Nu Pai Value 20,033 26,652.90 1,093 1,492.76 1,405 718 4.321 835 2.485 1,807.45 929.87 5.838.99 161.831 125.391 81.34 72.49 298.42 338.56 338.56 324.95 251.06 3,009.63 1.362 15,139.64 14.873 Ti Intcmational Funds Einerging Markets Equity A2 USD 11,158.39000 119,445.50 1,127.08 14,585.87 15.988.49 10,397.52 2,460.13000 575.66000 25,753.81 5,940.99 1797.921 1204.341 1,127.08 1,364.610fX) 1,542.20000 1,040.29000 12,069.70000 128,847.40 Vetilas Funds PIC fjlobal Focu£ D GBP Di 2,527.70000 133,021.58 12071000 7,060.33 48 56000 121.12000 3,049.10 7.445.25 493.60 1,03fi.27 176.51 2,478.73000 146.270 TOTAL.. 1525.271.32 716.168.26 925.627.27 36.811.88 lJ52.624.19 1.404.757 27?85.05 Pag¢ 16