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← Mary Alice Harris Charitable Trust

2024-04-05-accounts

THE MARY ALICE HARRIS CHARITABLE TRUST

FINANCIAL STATEMENTS

YEAR ENDED 5 APRIL 2024

CHARITY NUMBER 1124756

THE MARY ALICE HARRIS CHARITABLE TRUST

Members of the Board and Professional Advisers

The Trustees : Nigel Robert Harris Mrs Valerie Jane Harris Miss Abigail Sian Arris Miss Kate Annique Harris David William Coultrip

Registered Office : The Barn Dippenhall Farnham Surrey GU10 5ED

Investment Adviser : Rathbones Group Plc 30 Gresham Street London EC2V 7QN

Solicitors : Stevens & Bolton LLP Wey House Farnham Guildford Surrey GU1 4YD

THE MARY ALICE HARRIS CHARITABLE TRUST

Trustees Annual Report Year ended 5 April 2024

Objectives

The Trustees shall hold the capital and the income of the trust fund upon Trust to pay or apply the income, and (if and when the trustees in their discretion think fit) all or any part of parts of the capital to or for such exclusively charitable objects or purposes in any part of the world as the Trustees may in their discretion think fit.

Legal Status

The charity is an unicorporated trust registered with the Charity Commission under Number 1124756

Organisation

The Trust is controlled by the five trustees

Financial Controls

During the financial year the trustees gave discretion to the investment managers to undertake all decisions concerning the investment portfolio for the advancement of the Trust's investment objectives.

Investment Objectives

It is intended that the capital value of the portfolio is managed with the long term aim of providing a balance between income and capital growth in a diversified portfolio of equities, fixed income stocks and cash.

The Trust is a registered charity and thus exempt from capital gains tax. Therefore, the investment objectives of the Trust are not restricted by capital gains limitations.

Investment Criteria

In order to achieve these objectives, the trustees have appointed Rathbones Group Plc to manage the portfolio on a discretionary basis in medium risk assets comprising equities and fixed income stocks. There are no limitations or restrictions on investment and the trustees intend to keep this under review with its advisers.

Review

The trustees will review the investment objectives and criteria of the Trust in conjunction with the advisers on at least an annual basis.

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Sig on behalf of the trustees :
Nigel Ss Valerie Harris [eae
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THE MARY ALICE HARRIS CHARITABLE TRUST

Independent Examiner's Report to the Trustees Year ended 5 April 2024

Reporting on the unaudited accounts of the charity for the year ended 5 April 2024

RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND THE INDEPENDENT EXAMINER

The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 43(3)(a) of the Charities Act 1993 and that an independent examination is needed.

It is my responsibility to :

  1. examine the accounts section 43(3)(a) of the 1993 Act;

  2. follow the procedures laid down in the General Directions given by the Charity Commissioners section 43(7)(b) of the 1993 Act; and

  3. state whether particular matters have come to my attention.

BASIS OF INDEPENDENT EXAMINER'S REPORT

My examination was carried out in accordance with the general directions given by the Charities Commissioners. An independent examination includes a review of the accounting records kept by the Trust and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

INDEPENDENT EXAMINER'S STATEMENT

In connection with my examination, no matter has come to my attention:

(1) which gives me reasonable cause to believe that in any material respect the requirements:

(a) to keep accounting records in accordance with section 41 of the act; and

(b) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act.

have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

BAILEY & CO TAX CONSULTANTS LTD Suite 4B, Victoria House, South Street, Farnham, Surrey GU9 7DR

THE MARY ALICE HARRIS CHARITABLE TRUST Notes to the Financial Statements

YEAR ENDED 5 APRIL 2024

1 Net Donations Received

£

N Harris
V Harris
2. Investment Income
UK Dividends
UK Unit Trusts and OEIC Dividends accumulated
Overseas Dividends - cash
Overseas Dividends - accumulated (ERI)
Overseas Dividends - accumulated
UK Interest received on Unit Trust/OEICs
UK Interest received on deposits
UK Gilt Interest
UK REIT Interest
Overseas Interest
3. Costs in furtherance of charitable objects
The Bevern Trust
Treloar Trust
Seeability
4. Management and Administration
Legal and Professional - accrual 2024
Investec - management fee
5.Debtors and Cash Held
HMRC (provisional tax reclaim - gift aid/income tax)
Cash held by Stevens & Bolton LLP
Cash held by Investec - GBP
6. Creditors - Amounts falling due within one year
Legal fee creditor (2024)
7. Analysis of Net Assets in unrestricted funds
Investments (cost)
Unrestricted funds
£413,133.48		 -
-
£0.00
455.38
593.53
3,103.54
0.00
0.00
4,152.45
398.70
139.86
781.44
1,135.04
2,455.04
£6,607.49
£20,000.00
£3,000.00
£5,000.00
£28,000.00
3,996.00
6,195.83
£10,191.83
492.95
0.00
41,632.60
£42,125.55
3,996.00
£3,996.00
Other
Total
38,129.55
£451,263.03		 -
-
£0.00
Other
38,129.55
£6,607.49
£20,000.00
£3,000.00
£5,000.00
£28,000.00
3,996.00
6,195.83
£10,191.83
492.95
0.00
41,632.60
£42,125.55
3,996.00
£3,996.00
Total
£451,263.03

THE MARY ALICE HARRIS CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 5 APRIL 2024

Note
INCOMING RESOURCES
Net Donations received
1
Investment Income
2
TOTAL INCOMING RESOURCES
RESOURCES EXPENDED
Charitable expenditure:
Costs in furtherance of charitable objects
3
Management and administration
4
TOTAL RESOURCES EXPENDED
NET INCOMING RESOURCES
OTHER RECOGNISED GAINS AND LOSSES
Net gains/(losses) - investment assets
Net gains/(losses) on foreign currency
NET MOVEMENT IN FUNDS RELATING TO THE YEAR
BALANCE BROUGHT FORWARD
BALANCE CARRIED FORWARD		 £
-
6,607.49
6,607.49
28,000.00
10,191.83
38,191.83
(31,584.34)
26,979.33
-
(4,605.01)
455,868.04
451,263.03

THE MARY ALICE HARRIS CHARITABLE TRUST BALANCE SHEET

AS AT 5 APRIL 2024

Note £ £ FIXED ASSETS Annexed 413,133.48 CURRENT ASSETS Debtors & cash held 5 42,125.55 CREDITORS Amounts falling due within one year 6 3,996.00 38,129.55 TOTAL ASSETS LESS CURRENT LIABILITIES £451,263.03 REPRESENTED BY : FUNDS Unrestricted 7 451,263.03 £451,263.03

Market Value 30,223 32,277 10,741 0 44,589 19,988 20,651 0
Cost 2,511.08 15,082.57 9,345.00 0.00 38,682.20 14,725.00 20,095.78 0.00
Closing Units 250 220 796 0 13,380 7 930 0
Profit/Loss 4,924.96 (165.52) (1,446.61)
Disposals Proceeds
Cost		 5,427.17
502.22		 14,367.69
14,533.21		 8,327.39
9,774.00
Units 50 789 540
Acquisitions Units
Cost		 -
247.11		 930
20,095.78
Opening Balances Units
Cost		 300
3,013.29		 220
15,082.57		 796
9,345.00		 789
14,286.10		 13,380
38,682.20		 7
14,725.00		 540
9,774.00
B/fwd C/fwd B/fwd C/fwd B/fwd C/fwd B/fwd Acc Div Sold C/fwd B/fwd C/fwd B/fwd C/fwd Bought C/fwd B/fwd Sold C/fwd
Alphabet Inc Cap Stk USD0.001 06/04/2023 21/11/2023 05/04/2024 Amazon Com Inc Com USD0.01 06/04/2023 05/04/2024 Atlas Copco AB Ser 'A' 06/04/2023 05/04/2024 Baillie Gifford Japanese W3 ACC 06/04/2023 30/06/2023 03/01/2024 05/04/2024 BH Macro Ord NPV GBP 06/04/2023 05/04/2024 Booking Holdings Inc Com USD0.008 06/04/2023 05/04/2024 Compass Group Ord GBP0.11050 26/01/2024 05/04/2024 CVS Group Ord GBP0.002 06/04/2023 21/11/2023 05/04/2024
Market Value 0 30,132 19,899 0 30,446 31,278 0 19,397
Cost 0.00 27,567.00 9,741.00 0.00 19,969.71 1,907.72 0.00 14,536.36
Closing Units 0 2,700 32 0 1,318 120 0 63
Profit/Loss (1,217.08) (5,158.09)
Disposals Proceeds
Cost		 13,683.61
14,900.69		 6,380.00
11,538.09
Units 90 10,000
Acquisitions
Opening Balances		 Units
Cost
Units
Cost		 Eaton Vance Intl Em Dbt Opps S G 06/04/2023
B/fwd
2,700
27,567.00		 14/08/2023
Conversion
(2,700)
(27,567.00)		 05/04/2024
C/fwd		 Morgan Stanley Emg Mkts DT Opps Jh GBP Acc 14/08/2023
Conversion
2,700
27,567.00		 05/04/2024
C/fwd		 Equinix Inc Com USD0.001 06/04/2023
B/fwd
32
9,741.00		 05/04/2024
C/fwd		 Estee Lauder Com USD0.01 06/04/2023
B/fwd
90
14,900.69		 30/06/2023
Sold		 05/04/2024
C/fwd		 HarbourVest G1 PE Ord 06/04/2023
B/fwd
1,318
19,969.71		 05/04/2024
C/fwd		 HCA Healthcare Inc Com USD0.01 06/04/2023
B/fwd
120
1,907.72		 05/04/2024
C/fwd		 Hipgnosis Songs Fu Ord 06/04/2023
B/fwd
10,000
11,538.09		 22/02/2024
Sold		 05/04/2024
C/fwd		 Intuitive Surgical Com USD0.001 06/04/2023
B/fwd
63
14,536.36		 05/04/2024
C/fwd
Market Value 0 31,305 22,103 13,579 0 21,136 0
Cost 0.00 5,689.71 19,610.41 14,257.53 0.00 7,947.65 0.00
Closing Units 0 200 1,150 48 0 3,135 0
Profit/Loss 5,380.83 5,517.69 976.96
Disposals Proceeds
Cost		 20,789.71
15,408.88		 7,196.16
1,678.47		 3,230.31
2,253.35
Units 2,124 59 3,135
Acquisitions Units
Cost		 -
346.42		 48
14,257.53		 (9,406)
(10,201.00)		 3,135
7,947.65		 3,135
2,253.35
Opening Balances Units
Cost		 2,124
15,062.46		 259
7,368.18		 1,150
19,610.41		 9,406
10,201.00
of of of
B/fwd Acc div Sold C/fwd B/fwd Sold C/fwd B/fwd C/fwd Bought C/fwd B/fwd Scheme arrangement C/fwd Scheme arrangement C/fwd Scheme arrangement Sold C/fwd
JP Morgan European Smaller C Acc 06/04/2023 28/02/2024 26/02/2024 05/04/2024 JP Morgan Chase & Com USD1 06/04/2023 21/11/2023 05/04/2024 Legal & General L&G Ise Cyber Sec 06/04/2023 05/04/2024 Lululemon Athletic Com USD0.005 30/06/2023 05/04/2024 Melrose Industries Ord GBP0.076190476 06/04/2023 20/04/2023 05/04/2024 Melrose Industries Ord GBP0.22857142 20/04/2023 05/04/2024 Dowlais Group Ord GBP0.01 20/04/2023 21/11/2023 05/04/2024
Market Value 14,753 31,371 13,033 13,099 23,885 31,627 12,897 14,510 16,996
Cost 13,212.50 14,911.00 10,040.53 14,798.00 5,178.04 31,045.74 20,957.13 14,866.00 7,848.66
Closing Units 8,750 93 19 186 112 2,767 14,286 180 37
Profit/Loss 7,701.42 7,010.62
Disposals Proceeds
Cost		 9,920.58
2,219.16		 8,767.46
1,756.84
Units 48 38
Acquisitions Units
Cost		 8,750
13,212.50
Opening Balances Units
Cost		 93
14,911.00		 19
10,040.53		 186
14,798.00		 198
9,154.04		 2,767
31,045.74		 14,286
20,957.13		 180
14,866.00		 37
7,848.66
Bought C/fwd B/fwd C/fwd B/fwd C/fwd B/fwd C/fwd B/fwd Sold Sold C/fwd B/fwd C/fwd B/fwd C/fwd B/fwd C/fwd B/fwd C/fwd
M&G Japan Sterling Pp Acc 02/01/2024 05/04/2024 Microsoft Corp Com USD0.00000625 06/04/2023 05/04/2024 Moet Hennessy EUR1.30 06/04/2023 05/04/2024 Nike Inc Class B Com 06/04/2023 05/04/2024 Palo Alto Networks Com USD0.0001 06/04/2023 21/11/2023 02/01/2024 05/04/2024 Pimco Gbl Inv Grade Credit H 06/04/2023 05/04/2024 Primary Health Prop Ord GBP0.125 06/04/2023 05/04/2024 Raytheon Technology Com USD1.00 06/04/2023 05/04/2024 Thermo Fisher Science Com USD1 06/04/2023 05/04/2024
Market Value 0 0 12,086 15,096 21,970 0 25,807 _ 624,874 _
Cost 0.00 0.00 12,062.05 14,690.99 8,905.11 0.00 22,949.00 _ 413,133.48 _
Closing Units 0 0 £13,000 638 100 0 275
Profit/Loss 5,808.57 (1,877.24) (477.18) _ 26,979.33 _
Disposals Proceeds
Cost		 15,616.76
9,808.19		 12,230.15
14,107.39		 19,409.94
19,887.12		 ___
_		 145,346.93
118,367.60		 ___
_
Units 302 £6,500 198
Acquisitions Units
Cost		 £13,000
12,069.56		 -
(7.51)		 638
14,690.99		 ___ 74,912.38 ___
Opening Balances Units
Cost		 302
9,808.19		 £6,500
14,107.39		 100
8,905.11		 198
19,887.12		 275
22,949.00		 ___ 456,588.70 ___
B/fwd Sold C/fwd B/fwd Sold C/fwd Bought Acc Int C/fwd Bought C/fwd B/fwd C/fwd B/fwd Sold C/fwd B/fwd C/fwd
Totalenergies Se EUR2.5 06/04/2023 01/02/2024 05/04/2024 UK Gov Idx/Lkd Snr 22/11/2032 06/04/2023 15/01/2024 05/04/2024 UK Gov 0.125% Wnr 30/01/2026 15/01/2024 30/01/2024 05/04/2024 Universal Music GR EUR10.00 23/03/2024 05/04/2024 Visa Inc Com Stik USD0.0001 06/04/2023 05/04/2024 Vontobel AM MTX Sust Asian Leaders 06/04/2023 18/01/2024 05/04/2024 Walt Disney Co Com USD0.01 06/04/2023 05/04/2024 Totals