THE PHILIP BREEZE CHARITY REPORT AND FINANCIAL STATEMENTS For tbe year ended 5 April 2024 THE PHILIP BREEZE CHARITY REPORT AND FIIYANCIAL STATEMEN]S For the year ended 5 Aprll 2024 P*ge I IDdex Referen¢e 2nd AdMinIs￿lIve InforniatAoD Provblons of Will and Codficil Pages4&5 Trustee'% Report PAge6to8 Independent Auditor's Rep)rt Page 9 Statement of Finlnclal Aetivlties Page 10 Balance Sheet P*ges 11 to 14 Notes to Ihe Financlal Ststements The followiDg pages do not form of Ihe Financial Statements P*gu 15 & 16 Detsiled Investment Transaetions THE PHILIP BREEZE CHARITY REFERENCE AND ADMINISTRATIVE INFORMATION R¢gl$tered Charlty No. 1055260 OFFICE ADDRESS First Floor St Bartholomew House 92 Fleet Street London EC4Y IPB TRUSTEES. . John Simon Gold MA (Died 17th October 2023) John Alistair Clem¢n¢e CBE TD FCA BANKERS The Royal Bank of Scotland plc l Fleet Street London EC4Y I BD INVESTMENT MANAGERS RBC Brewin Dolphin Ltd 12 Smithfield Street London ECIA 9LA SOLICITORS Sebastians St. Bartholomew House 92 Fleet Street London EC4Y I PB INDEPENDENT AUDITOR Perrys Audit Limited Chartered Accountants Churchdown Chambers Bordyke Tonbridge K¢ntTN9 INR THE PHILIP BREEZE CHARITY Proviqions of the Will dated IS December 1992 and Codkll Philip Anthotty Bree￿ died 18 February 1993 After the payment of fillml. testamentsry expenses and legacies the Residuary Estate is held on "" . . . the following Trusts:_ Doris Ellis-Breeze may r￿Ide at 314 Fosseway Terrace. Stow Road, Bourton-on-the-Wat¢r during her lifettme rent free but subject to payment by her of all rates. tsxcs and costs of kecping the . pmperty in reasonable repair. Doris Ellis-Breeze died on 8 Dettmber 2008.The property reverted to the Residuary Estate and was sold on 8 April 2009. Th¢ net proceeds weff £170,871. . During the Discretionary Period (whtch eXp￿lon shall mean the period starting with the date of death of Philip Anthony Breeze and ending U￿)n the death of the l&st survivor of Marcelle Breeze- Lamb and Doris Ellts-Breeze) to pay or apply the income of the Residuary Estate ag follows:. {1) To pay marcelle-Bre￿-LaMb out of the income of the Residuary Estate during her life the surn of £10.O(K) per annum net of income tax at the standard rate. (li) To pay Doris Ellis-Breeze out of the income of the Residuary Estate during her lifetime the sum of £15.000 per annum net of income at the standard rate. (iii) As to the balance (if any) of the income from the Residuary Estate the Trusttts may pay or apply all or such part or parts theThf for the benefit of such one or more of the charities listed below as the Tn￿lee5 shall in their absolute and uncontrolled discretion decide and shall invest and accumulate the balanc¢ of such income unpaid or unapplied as aforesaid &8 an accretion to the capitsl of the Residuary Estate until the expiry of the Discretionary . Upon the expiry of th¢ Discretionary Period the Tnistees shall hold the Rcsiduary Estate as to both ital and income including accumulated income upon trust for such of the charities listed below as shall be in exislence ai the expiry of the Discretionary Period and if more than one then in equal shares absolut¢ly. L￿t of Charitsbk BeDefKi*ries Listed An the Will Cbarity No. Royal National Institirte of Blind People (fomierly Action for Blind People) Blu¢ Cn)ss (Animal Hospitsl) Brooke Hospital for Animals Great Orniond Street Hospital for Children Greenpeace Environmental Trust Guide Dogs for the Blind Association Multiple Sclerosis Society Action for Children (fornierly National Children's Home) National Sociw for the Prevention of Cruelty to Children 226L 1085760 288763 2849J4 ?09617 207495 216401 202918 1068911 219279 . Redwings Horse SanctuaTr -" Royal British Legion Royal Society for the Prevention of Cruelty to ADimaJs Salvation Anny Save the Children Fund Unitcd Kingdom Committee for UNICEF :: Wood Green Animal Shelters 214779 213890 1072612 298348 THE PHILIP BREEZE CHARITY TRusfEFS' REPORT {ConllDued) 7. Plans for the Futsre The Tntstee will continue to re¢ognise the Testatofs wishes that the Fund be kept intact until th¢ death of the second annuitant th¢r¢by giving the remaining annuitant the security of the whole of the Capital of the Fund for her annuity. During that time the Tr￿51¢¢ will ¢ontinue to exercise his dI￿retIOn to distribut¢ income to charities named in the Will. & ConstitutioTr, Strnttsr4 Governance and Management Governlng Doeument The governing document of the Ch8rity is the Will dated 15 December 1992. AppolDlment of Trujt When a need arises the power of appointin8 new Tn￿teeS vests with the Trustees at that time. 9. Publi¢ B¢neflt In meeting the objectives the Trustee has given careful consideration to the Charity Commission's g¢n¢ral guidance on public benefit and judg¢ that all don8tions made meet this guidance. 10. P*ym¢ots to B¢Defi¢l•ries Note 10 gives detsils of income distributions that have been made to the charit8ble benefi¢iari¢s during the year. From time to time the Trustees have exercised their discretion to make grants to individual charities listed in the Will. Each year a substantial sum is distributed split equally between all the listed clwities. The Trustee will consider the level of future distributions to th¢ ¢haTiti¢y when the Financial Ststements are approved. I i. ststement of Trust¢¢s Re8ponslbllltles Charity Law requires Trustees to prepare Financial Statements for each financial year which give a true and fair view of the Charity's financial activities during the year and of its fin8ncia] position at Ihe end of the year. In preparing those Financial Statements. Trustees are reqUI￿d to: select suitable a¢¢ounting policies and then apply them ¢onsistently make judgem¢nts and estimates that are rwonable and prudent; - State whether the policies are in ac￿rdance with applicable accounting Standards: prepare th¢ Financial Ststements on the going con¢ern basis unless it Ès inappropriate to presume that the Charity Wtll ¢ontinue tn operatio Trustees are reswnsible for keeping proper a￿oUnting records whtch disclose with reasonable accuracy at any time the financial Fx)sition of the Charity and which ¢nable them to ensure that the Financial Statements comply with the Charities Act 2011. They are also responsible for safeguarding the &¥sets of the Charity and hence for taking re&%onable steps for the p￿VentiOn and detection of fixud and other irregularities. The Tn￿tee Confinns that there is no inforn)ation relevant to the audit of which the auditors are unaware and thai the Trustee has taken the necessary steps to ensure they are aware of all relevant audit info tion and made sure the auditors are aware of it. John Clemence CBE TD FCA - Trustee Date ¢1*V 201 THE PHILIP BREEZE CHARITY TRUSTEE'S REPORT The Trustee presents his Report and Fin8ncid Stat¢ments for the year ended 5 April 2024. Reference And Administrntion Information Details are shown on pa8e 2. Objectives Details of the provisions of the Will of Philip Bree￿ are shown on page 3. Th¢ Trustee has LM)ntinued to administci the Charity in accordance with the provisions of the Will. 2. A¢tlvltle4 The Trustee has ￿ntinUed applying the fund5 in accordance with the ternis of the Will of Philip Br¢eze. 3. Achlevements 4od Perform•nce Note l O gives dclails of the incom¢ distributions that have bc¢n made to the charitable beneficiarie5 during the year. The Trustee is satisfied with th¢ State of the Charitys affairs. 4. Flnanelal Results The Financial Statements on pages 9 to 14 give detsils of the income and expenditure for the year and the &ssets and liabilities at 5 April 2023. The results are summarised ￿ follows:. 2024 Ineome rrfefved 492.638 301,735 RAlslAg Funds Investmenl Managers, fees 10.846 10.671 Ch*rltsble Aetlvlllej Management and administration Distributions to Charities 27.139 23.014 210.IXKI 365.41M) Totsl Cbarftable Activltles 237.139 388,414 Totsl expendltur¢ 247.985 244.652 399.085 (97.350) Net Losses on Investments 1223.755) ￿￿468) Net Surplusl(Defi¢lt) £20,898 (£393.818) Riik Maoazement The major risks to which the Charity is expose4 &8 identified by the TniSt￿8. have be¢n reviewed and systems are in place to manage those risks. 6. Reserves Poll¢y The Trustee regards the original capitsl plus re-inva5ted gains and surpluses as expendable endowment to be retained during the lifetime ofthe annuitanL The annual income is used to pay the annuity, cover management and administration costs and make income distributions to the charitable beneficiaries. INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE PHILIP BREEZE CHARITY Oplnlo We have audtted th¢ financial slatements of The Phxlip Breeze Charity for the year ended 5th April 2024 which comprise the Statement of Financial A¢tivities, the Balance Sheet and the related notes. The fjnancial reporting framework that h&s been applied in their pryaration is applicable law and United Kingdom . Accounting Standards, i￿luding Financial R¢portin8 Standard 102 The FinancRal Reporting Standard appli¢abl¢ in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting P￿tice). In our opinion th¢ financial statements: Give a tnK and fair view of the state of the charitys affairs as at Slh April 2024 and of its incoming reSoU￿S and application of ttsources for the year then ended. Have been properly p￿pared in acwrdance with United Kingdom Generally AC￿pted Accounting Pra¢tic¢; and Hav¢ b¢en prepared in accordance with the requirements of the Charities Act 2011. Bajls for oplnloD We conducted our audit in ￿￿OrdanCe with International Standards on Auditin8 (UK) (ISAS (UK)) and applicable law. Our r¢s￿nSIbl11tles und¢r those standards fiffther describ￿ in the Auditor's ' responsibilities for the audit of the fjnancial statements section of our report. We arn independent of the ctwity in accordon¢e with the ethical Tequir¢ments that are rdev8nt to our audit of the financial statements in , the UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in a￿OrdanCe with these requirements. We believe that the audit evidence we hav¢ obtained is sufficient and appropriate to provide a basis for our opinio Contluslons relatlng to golDg concern In auditing the financial statements. we have eA)n¢lud¢d that the trusirt8' use of the 8oin8 COn￿M basis of LX)untin8 in the preparation of the financial statements is appropriate. Based on the work we have perfomi¢d, we have not identified any material uncertainties r¢lating to events or conditions thaL individually OT collele for assessing the charitys ability to continue &8 a going , ncem, di￿lOSin& as applicable, matters related to going concern and using the going COn￿M b&8is of a¢counting unless the trusfres either intend to Itquidat¢ the charity or to cease operations. or have no r¢alistic alternative but to do so. Auditor's re8ponsibllilie8 for the awdlt of the financial statemeots We hav¢ been apw)inted auditor under section 144 ofthe Charities Act 2011 and rqx)rt in &cordancé with regulations made under section 154 of that Act. Our objectives are to obtsin re&8onable &8sufdnce about whethtt the financial Statem￿ as a whole are free from material misstatement, whether due to fraud or error. and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in a￿OrdanCe with ISAS (UK) will always detect a material misststement when it exists. Misstatements can arise from frdud or emx and are considered material if, individually or in th¢ aggregate, they could re&sonthly be expected to infiuence the economic decisions of users taken on the b&sis of these financial statements. Irregularities. including fraud. are instances of nonrfompliance with laws a￿1 regulatioA%. We design procedures in line with our responsibilities. outlined abov< to detect material misslatements in respect of iTregularitie& including fraud. The extent to which our pr(ttdurfs are Capable of detecting irregularitie& i￿luding fraud is detatled below: We obtained an understanding of legal and regulatory frarnework applicabl¢ to the Charity through discussion with the charitys trustees. The charity is Complying with the legal and regulatory framework by engaging professional advisers. The laws and regulations we have identified &s being 015i8nificance in the conzext of the company are the Clwities Act and finan¢iaI reporting legislatio Our assessment of the susceptibility of the charity's financial statements to matuial missLqtement is that the susceptibility Fraud may occur thie to the misappropriation of fiuMIs. The engagement partner considers that the engagement team collectively Illve the appropriate com]xtence atul apabilities to identify or Tecognize nOn-￿Mpl￿ancc with laws and wlati(ms duc to their experience and trainin& No matters of non-complian￿ with laws and regul*ions or fraud were communicated to the ¢ngagement team. We obta1n￿ an understandin2 of the tharitv's current xtivtties throuoh discussion with the cPwitVs trustees. IF4DEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE PHILIP BREEZE CHAIUTY A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.fr¢.org.uklauditorsresponsibilities. This description fom)s part of our auditor's report. Use of our report This r¢w)rt is mad¢ solely to the charity's tn￿tee& &$ a l￿dy. in ac￿rdan￿ with Part 4 of the ChaTities (Ac￿Unts and R¢ports) Regulatiorts 2008. Our audit w(vk Iw been undertaken so th* we might state to the charity's trustees those matter8 we are required to state lo them in an auditor's report and for no od*r purpose. To the fullest cxt¢nt perniitted by law, we do not ac¢¢pt or assume tesp)nsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this rewrL or for the opinions we have formd. Stephen Hak, Senlor Statutory Au Itor For and on behalf of Perry$ Audit Limited, Ststutory Auditor Churcbdoivn Cb•mberJ Bordyke Tonbrldge K¢nt TN9 IIYR THE PH￿P BREEZE CHARrrY srATEMENf OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 5 APIUL 2024 Capit•l 2024 Capitd IBcome 21TLI 2024 Totsl Total 2023 Note Genernl Fund .: Income And Endowments from: Income from investments Grant Inry)mc Interest Other Income:-' Total Income (2) 127.51Y> 3(X).848 127.5(M) 3(xi.148 4.637 4.637 492.638 301.735 ￿038 301.735 Expendlture on: Raising Funds Clwitable Activiti¢s (3) (3) (5.423) (7J20) 15,423} Q29.820) (JS3.157) . {10.846) (237.139) (10.071),, (3K414)' 15257) Tot•1 EX￿dIt￿re., . (11743) (10.592) {2352431 88.493> (247,985) 1399.085 Net Surphu i Okfkit) ,' _ (11743) (iOJ92) 257J95 186.751) 244.652 Net tK>sses on Investments {4) {223.755) IN461) (223.755) (M468) Net Surplus l (Denett) - ..... {236.497) 1307.0(A)) 257J95 18&758) 20.898 (WJ.81 Transf¢r between Funds 257J95 (K75fj 1257J95) 8A758 FutKls brought forward at 6 April 2023 4.463.1￿ 4856925 4.463.11)9 4.85W47 . Funds carried fon¥ard at 5 April 2024 £4.484.LN)6 £4.463.107 £4,484,NJ6 463.1 The notes on pag¢s I I to 16 forni part of the Financial Ststemen io THE PHILIP BREEZE CHARITY BALAIYCE SHEET AT 5 APRIL 2024 2024 2024 2023 2023 Note Invutments Quoted Investments (5) 1,606,048 1,615,147 Unquoted Investment (6) 2,405,642 4,011,690 4.261.056 BalAn¢es at Bank and Investment MAnAgtrs (7) 495,029 208.153 Credltorj (8) 22.713 6,100 Net Current Assets 472,316 202.053 Net Assets 4,484.0(16 4,463,109 R¢pr¢J¢Dt¢d by :" Capltal Fund (9) 4.484.006 The notes on page$ I I to 16 forn) part of the Financial Statements. J.A. CLEMEhlCE CBE TD FCA Tru8tee D*ted: 11 ..THE PHILIP BREEZE CHARITY NOTES TOTHE FINANCIAL STATEMENTS . FOR THE YEAR ENDED 3 APRIL 2024 I ACCOUNTING POLICIES (4) Basls of Ae¢ounting The financial st&t¢ments have been prepared in accordance with the Ststement of Recommended Practice: Accounting and R¢porting by Charities preparing their accounts in ac¢ordanc¢ with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Financial Reporting Standard applicable in the United Kingdom and Republi¢ of Ireland (FRS 102) and the Charities Act 2011. The Trustee ¢onsideTS that ther¢ are no material uncertainties aboul the Trust's ability to ¢ontinue as a going concern. (b) Income All donations and oiher fornis of voluntary income are a￿OUnted for when receivable (e) Expendlture Expenditure is included in the financial $tatem¢nts on an ￿¢￿al$ basis. (d) Quoted Inv¢8tments Quoted investments have been valued at market value at the Balance Sheet date. Unrealised and realised investment gains and losses are shown net in the Statement of Financial Activities. Realised gains and loss¢s are calculated by reference to the original Cost and the sale proceeds. (e) Unquoted Invejtment The Unquoted Inveslment is stated at the Trustee's estimate of its value at 5 April 2024. (D Reall8ed galns and lo$$es All gains and losses are taken to the Statements of Financial Activities (SOFA) as they arise. Realised gains and1055es on investments are calculated as the difference between sale3 proc¢¢ds and their original cost. Unrealised gains and losses are calculated as th¢ difference between the fair value at the y￿r end and their carrying value. Realised and unrealised investment gains and losses ar¢ ¢ombined in the SOFA. 2. INCOME FROM INVEsfMENTS TotAI 2024 Total 2023 Note Quoted Investments Unquoted Investjnent Income from Investments 63.500 64.iYJO £127,500 60,848 240.000 £31)0,848 (6) 12 THE PHILIP BREEZE CHARITY NOTES TO THE FINANCIAL STATEMENTS .. FOR THE YEAR ENDED 5 APRIL 2024 3. EXPENDITURE ON: r4ote Capital 2024 Cgpltal 1023 Ineome 2024 Income 2023 Total 2024 Total 202J Ratslng Funds :. Investment Management Fexs 5,423 5.335 5,423 5.336 10,846 10.671 Charitable Activities Distributions to Charities (io) 210,1X)O 365,400 210,000 365,41)0 .' Legal and professional fees Accountancy costs Bank charges Annuity Gross 5.387 1.920 13 3.401 L836 , 5,387 1,920 13 12.500 19,820 3.401 1.836 20 12.500 17,757 10.774 3.840 25 12,500 27.139 6.802 3.672 7.320 5.257 23.014 Total Charitsbl¢ Activities £7,320 £5,257 £229.820 £383,157 £237,139 £388.414 4. RECONCILIATION OF LOSSES ON INVESTMENIB 2024 2023 Unreali5ed Losses on Quoted Investments Unrealised Loss¢s on Unquot¢d Investments Realised Gains on Quoted Investments Total Net Losses {43.896) (106.814) 1240,267) 1198.497) 60,408 8,843 1£223,755) (£296.468) 5 QUOTED INVESTMENTS 2024 2023 Market Value at 6 April 2023 Cost of investm¢nts acquired 1.615.147 168,871 1,784.018 1.787,640 (194,482) (74,522) 1,589,536 1.713.118 60.408 8,843 (43.896) (106,814) £1.606,048 £1.615.147 1,720.314, Proceeds from disposal of investments Realised Gains during the year Movement in Unrealised Losses during the year Market Value at 5 April 2024 Individual investments held at 5 April 2024 which represent more than 5Yo of the portfolio by value are: Market value Portfolio O/¢ Alliance Trust plc SSGA European Aristocrats Fund JPM Asset Management US Equity Income Murray IAt¢rnational Trust plc Aviva Investors US Equity Income Fund 120.148 111,202 110,922 105,400 88.847 7.48°/0 6.920/0 6.91¥/0 5.530A 13 THE PHILIP BREEZE CHARITY . . . NOTES TO THE FINANCIAL ￿ATEmEN13 FOR THE YEAR ENDED 5 APRIL 2024 & UNQUOTED INVESTMEI 2024 2023 Radix Properties Ltd 8.000 Class B £1 Ordinary shares Value at 6 April 2023 Unrealis¢d (loss) on revaluation 1645.9)9 (240267) .'/a 119&497) Value at 6 April 2024 £2.405.642 Q645.5I)9 Divtdend in¢ome for the year Grant income for the year £64.￿) £360,(IM) £240,( £0 . 7. BALANCFS AT BANK AND INVEsfMENT MANAGERS 2024 Bank Accovnts Inveslment Managerslapitsl A¢¢ount 195.058 13,094 £2￿153 33,467 -. £495.029 CREDITORS 2024 Accountaw and A￿lt Fxs i Legal fees , Investment Managers fees Grant pledged Income Tax 1218 5J95 1500 £6.11 £22.713 9. ANALYSIS OF UNRESfRl￿ED FUND MOVEMEIY15 2024 Balance at 6 April 2023 Income . Expenditure GaIn￿(Lo$Ses) Balance at 5 April 2024 4.463.109 491638 (247.985) (223.755) £4,484.IX)6 301.735 {399,0851 {296.468 £4,463.l(WJ 14 THE PHILIP BREEZE CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 IU. DISTRIBUTIONS TO CHARITIES 2024 2023 Discretionary payments: UNICEF UK Brook¢ Hospilal for Animals Oxfam Multiple S¢lerosis Society Redwing Horse Sanctuary Royal National Institute of Blind People Save the Chtldren 20,01)0 5,000 2.400 i 10,000 Annual distribution to Charities (see pag¢ 3) Distribution of surplus: 17 payments of £19.000 17 payments of £10,000 170,000 £210,000 £365,400 I I. TRUSTEES John Simon Gold was a Consultant at Sebastians. This fim provided, and continues to provide, legal and administrativ¢ services for the Charity. Amount of transactions in the year Amount of transactions in the previous year 1.890 6,804 John Alistair Clem¢n¢e is a dire¢tOT of Secretsrial Services Ltd whi¢h provides accountancy services to the Charity. Amount of transactions in the year Amount of transactions in the previou5 year 5.650 Neither Trustee received any remuneration from the Charity (2023 - Nil) and no expenses were rcimbursed in the year (2023 - Nil). The Trustees were the sol¢ Directors of Radix Properties Ltd of which the Charity holds 800/0 of the shares. The Directors received the following remuneration from the ¢ompany: Year ended 31.3.24 £17.490 £4.400 Year ended 31.3.23 £32.000 £4.000 S S Gold (to 17th October 2023) J A Cl¢mence 15 THE PHILIP BREEZE CHARITY DETAILED INVESTMENT TIL4NsA￿1O￿s FOR THE YEAR ENDED S APRIL 2024 P￿rt￿lse¥ Cost Sxltt (Pr•tetd•) oml¥•l Profit H*Jldl*g• (lom) at %424 .. M•Fkrt V•ly¢ *t&4.23 Cost Pory*iwl CiYp.Bd ShrfOEIC) FDf)O Man ICvCM￿GIfje￿pOra¢eBrffld .. _ . J¥nu$ Henders Ftxed monthly inc¢ GQGBP D?# t¥nd Securtties Capital Markets ple 5.391% N￿¢& 27102r2026 19.622 39,180 {19.622) (36.678) {2502) 1239 45.625 39.(K)2 45.625 39.(XI2 44.fA)8 2249.56 50.(XK) 25.5(M> 50.tXK) 253(X> 23.466 ],(hI4.￿ ..,, ., 613 26.IM) 26.0￿ I26.(￿) (26.￿) 1.401.92 Cl8&8 A IOEIC) untts Coyp t*)Tr4 1 St¢Etin8 shar 109341 38.765 3aJ65 1.754.05 T¥Y¢nty four in¢A)me fund 21.959 24.999 21.959 24.999 22.969 2296.91 1396 154.444 23.676 128266 129.éK>8 8.746.44 qllititS Alliance Trust pic 2.5p Ordinary shares APAX Glob# 33.514 33,514 120.148 2.469.60 S2 OrdiTkary NPV Avivo Inv¢5t(ffs VS Equty Fund Class l Jhw¢5 43JlO It.958 11.958 10.150 793.80 66.588 43JlO 66588 88.647 1432.80 Baillt¢GiffoYd UK 25pOrdtn#ry 5tw 38.636 (27.IYXS) (43.719) 5.083 972.￿* BNY Mellon .. .. Incom¢ Fwid 25202 30.OCKI 25.202 29204 1,131.68 1.113 Black R￿k Rund Income Fund. D un¢ts 16250 30J26 16250 30.326 31.130 1212.50 City of L¢md¢)n 5nvesunMt Trustplc 25pOrdirk8ry shores 12.¢XKS 31.755 31,755 48.240 2,424. O.Ip (kdinary thares Enterprsse Investm￿ Tn￿pIC 25pOrdin8rv 5h&Ys 50,568 SOJ68 37J76 1,804.(K) . 873 (453) (1166) 158.55 Edinw Investment Tntht ptc ?SpOrdin8ry sh*e8 10.950 75227 3.OJ4 FYw&lin Tempyewn 32.419 35.000 32.419 35.IXHI Gore s￿ EneF8.N' Fund ". :" Iopthdinary sh 40.(w 44.665 24.960 3.IJKI.¢XI . Hende¥son HiBh Income Trustptc 5p Ordinary shores 34.Iy)7 30.￿ 2.070.(M) Markets fnVesthwttTn￿¢ 5p Ordinory Shares 48.125 28280 48.125 28280 JPMor8an Asset Ud b.s tqutry inc K Sfcrltng tllc 5hwres 573 36.380 69J 56.166 CBrrJeil forwgrd {26.098) 505261 689248 25.930.71 16 THE PHILIP BREEZE CHARITY DETAILED INVESTMENT TRANSACTIONS FOR THE YEAR ENDED S APRIL 2024 Hold1* PHr¢k•Ms Cmt S*kJ IPro¢¢eth Profft Holdi*8 ! *1 S.&24 Market V•l¥e 2024 •t 6.&11 Nt)thiaAI In¢om¢ 2014 C￿t Bro￿ght fonvatd 524,984 (26.098} 6J76 505.261 689248 25.930.71 26205 Keysion¢ Invcstsneol pk SOpOrdiMry $h4r¢s Law D¢l*nture Corp plc 5p Ordinory shares Link FuThl.8olut4ons Ltd In¢ffji¢ Fund 32376 31576 34.050 67.50 7.(W 28J64 28.364 J5.090 1213.75 1109 40.750 56.813 40.750 56.813 53.305 2.631.39 1031 iedie Invtheni Tn¥t pk lop Ordin•ry shw 517 Merc8nlil¢ Investment Tr￿1 pk 2.5p Ordinary shar¢J 273yI 232JO 27250 23250 60.495 1030.14 1,880 Me￿h•￿ts TFUSt pk 25p (hdin•ry shtrts 34,894 34.894 36.087 1.952.70 1.894 Mmy I￿l￿ne Trn￿ 25p Ordi￿ry Jhves Myfrny IntsTn•tional Tnllt pk 25p Ordinary 8b Nittty FuThl Monag Diversified In￿me 8hw%• Polar Capital Fu 1.650 10,118 1.630 10.118 13ffj13 660.01 936 59.764 42J(X) 59.764 105.4 4,7rfJ.(Kl 4.675 87.7x1 88238 87.750 88338 79.379 3.319.49 3J24 4,550 39J78 4.550 39.378 33.124 2.(M)9.29 .767 R¢sid¢nti•l JKure PLC lop ordin￿ shw¢s Ruffer Inve8unent Compl Red Pt8 PTefo. Ip sha￿9 33.$( 31220 33.SiKI 17.688 1.554.40 1.729 154250 40.153 154350 40.153 38.119 520.13 371 Halley Sivac Pm6wAty A Inc Shu¢5 38256 38256 X).630 2.352.1 1356 Scthiijh Ameri¢￿ IDveBtmeM Company pl 25p Ordinary sh 11.3 24.925 IIJ 24.925 57,613 1,6CIS.55 lJ55 SSGA SPDR 1.975 110.083 1.973 I10.Q83 111202 893.45 T. B•il¢y Flll￿ s¢TVi￿8 Ev¢nkth Incon* C units 16.5(X) 35.007 16JNJ 35.￿7 41.397 1.165.07 Wilan Inv¢¥tsn¢nt Try￿ 25p Ordinary th4r¢s 36.5(Kl 29J85 (36JW} {85.920) 56.535 1.087.20 1117 I.159.￿￿) 1.476.442 .54.753.78 54.641 1,098.925 11.935 GrAttd Toll 1253.369 25.61T 1.288.166 I.(￿.050 63,5￿.22 60.848