THE TRELIX CHARITABLE TRUST
REGISTERED CHARITY NO. 1124952 ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED
5 APRIL 2021
THE TRELIX CHARITABLE TRUST
CONTENTS
| Legal and Administrative Information Trustees' Annual Report Independent Examiner's Report Accounts Receipts and Payments Account Statement of Assets and Liabilities Notes Investments and Investment Income |
Page |
|---|---|
| 1 2 - 3 4 5 6 7 - 8 9 - 11 |
THE TRELIX CHARITABLE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Constitution
The Trelix Charitable Trust was created by Elizabeth Ruth Inman Hanning, Henry Somerset Hanning and Graham Egerton Benwell for charitable purposes by means of a Trust Deed dated 25 March 2008. Elizabeth Hanning agreed to contribute £100 to constitute the charity and a further £1 million was received from The Kaliste Trust on 30 July 2008.
The Trust is a registered charity, number 1124952.
Principal Office
1 Friar Street, Reading RG1 1DA
Trustees
Elizabeth Ruth Inman Hanning Graham Egerton Benwell Sarah Caroline Baldwin Walker Christopher William Arthur Hanning Matthew Robert Adeane Hanning
Elizabeth Hanning, Sarah Walker and Christopher Hanning hold title to the leasehold property of the trust.
Professional Advisers
The professional advisers to The Trelix Charitable Trust are as follows:-
Independent Examiner I D Miles FCA James Cowper Kreston Reading Bridge House George Street Reading RG1 8LS Solicitors Blandy & Blandy 1 Friar Street Reading Berkshire RG1 1DA Investment Managers Brewin Dolphin Limited 12 Smithfield Street London EC1A 9BD
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THE TRELIX CHARITABLE TRUST
TRUSTEES' ANNUAL REPORT
FOR THE YEAR ENDED 5 APRIL 2021
The Trustees present their report along with the accounts for the year ended 5 April 2021.
Structure, Governance and Management
The constitution of the charity is set out on page 1.
The Trustees who have served during the year and since the year end are set out on page 1. Future Trustees must be appointed by resolution of the Trustees. The Trustees must hold at least one meeting each year. A quorum at a meeting of the Trustees is three Trustees. Decisions may be determined by a simple majority of the votes cast at a meeting.
Objectives and Activities
The Objects are to make donations towards or otherwise to promote or assist such charitable purposes and institutions as the Trustees may think fit.
Public Benefit
The charity Trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission and grants have been made during the year which have given public benefit to a number of charities with a wide variety of charitable objects.
Funds
The Trustees must use the income and may use the capital of the Charity in promoting the Objects.
Risk Review
The Trustees have continued to review and monitor the major risks to which the Charity is exposed. The Trustees have reviewed the major risk facing the Charity and believe that it would relate to a fall in investment income. The Trustees have addressed this risk by appointing investment managers whose performance is monitored by the Trustees.
Investments
The Trustees' investment policy has been to provide a stream of income available for potential distribution and a sound capital base for the long term future of the Charity.
Reserves Policy
The Trustees' policy is to apply the income year on year as it is received, so that expenditure broadly matches income received.
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THE TRELIX CHARITABLE TRUST
TRUSTEES' ANNUAL REPORT
FOR THE YEAR ENDED 5 APRIL 2021 (CONTINUED)
Financial Review
During the year investment and other income amounting to £57,192.75 (2020: £62,198.62) was received, and grants amounting to £94,000.00 (2020: £21,000.00) were paid.
The decrease in income is largely due to companies cutting dividends as a result of the Covid-19 pandemic. The market value of investments at the year-end amounted to £1,357,804 (2020: £1,046,703) and the balance on the Stockbroker Capital account amounted to £4,685.61 (2020: £13,021.10).
The increase in value of the investment portfolio at the year end was in line with the general recovery in the markets following the significant drop in the previous year as a result of the Covid-19 pandemic. The Trustees will continue to closely monitor the value of its investments and the level of investment income.
Achievements and performance
The flat owned by the Trelix Charitable Trust has continued to be put to good use in housing refugees seeking asylum. The family living there until from April 2021 have been supported by the International Care Network (ICN).
The investment income received by the Trustees during the year has enabled them to make grants to 81 charities between £500 and £4,000 with a wide variety of charitable interests, benefiting local, national and overseas communities.
Approved by the Trustees and signed on their behalf by:
Graham Egerton Benwell
Date : 21 January 2022
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INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF
THE TRELIX CHARITABLE TRUST
I report to the trustees on my examination of the accounts of the Trust for the year ended 5 April 2021 which are set out on pages 5 to 11.
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").
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.
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:
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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
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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:
Name:
Ian Miles FCA
Relevant professional body:
ICAEW
Address:
James Cowper Kreston Reading Bridge House George Street Reading RG1 8LS
Date:
26 January 2022
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THE TRELIX CHARITABLE TRUST
RECEIPTS AND PAYMENTS ACCOUNT
FOR THE YEAR ENDED
5 APRIL 2021
| Receipts Investment income Stockbroker gross interest Income distributions 2020/21 (2019/20) from Trelix Family Trust HMRC repayments Investment Sales etc Sales, redemptions and cash fractions Total Receipts Payments Accountancy fees Independent Examination Fees Solicitors fees - trust administration Solicitors fees - tenancy agreement Property Expenses Grants Paid Stockbroker fees Asset and Investment Purchases etc Investment Purchases/Cash equalisations Total Payments Net of Receipts / (payments) Transfers between funds Cash funds at 6 April 2020 Cash funds at 5 April 2021 |
Unrestricted Income Fund £ 25,915.03 4.99 10,000.00 21,272.73 57,192.75 - 57,192.75 990.00 216.00 4,950.00 - - 94,000.00 - 100,156.00 - 100,156.00 (42,963.25) (9,477.61) 69,620.61 17,179.75 £ |
£ | Expendable Capital Endowment Fund £ - - - - - 156,375.37 156,375.37 2,970.00 648.00 14,850.00 - - - 8,437.17 26,905.17 142,755.69 169,660.86 (13,285.49) 9,477.61 3,807.88 0.00 2021 |
£ | Total Funds £ 25,915.03 4.99 10,000.00 21,272.73 57,192.75 156,375.37 213,568.12 3,960.00 864.00 19,800.00 - - 94,000.00 8,437.17 127,061.17 142,755.69 269,816.86 (56,248.74) - 73,428.49 17,179.75 |
2020 £ 36,141.99 56.63 26,000.00 - 62,198.62 98,151.35 160,349.97 3,960.00 864.00 23,880.00 720.00 1,159.80 21,000.00 10,622.96 62,206.76 99,648.46 161,855.22 (1,505.25) - 74,933.74 73,428.49 £ |
|---|---|---|---|---|---|---|
The notes on pages 7 to 11 form part of these accounts.
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THE TRELIX CHARITABLE TRUST
STATEMENT OF ASSETS AND LIABILITIES
AS AT 5 APRIL 2021
| Assets Monetary Assets Cash funds Stockbroker Capital a/c Stockbroker Income a/c Blandy & Blandy Client a/c Other monetary assets Income tax recoverable Income distribution receivable Dividend receivable Investment assets Listed investments at market value Assets retained for the charity's own use Leasehold property at cost (inc. fees & searches) Liabilities Accountancy/Independent examination fees Solicitors fees |
Unrestricted Income Fund £ 4,685.61 5,229.90 7,264.24 17,179.75 12,272.73 5,000.00 - - - (1,206.00) (1,470.00) (2,676.00) 31,776.48 £ |
£ | Expendable Capital Endowment Fund £ - - - - - - - 1,357,804.44 160,139.43 (3,618.00) (4,410.00) (8,028.00) 1,509,915.87 2021 |
Total Funds £ 4,685.61 5,229.90 7,264.24 17,179.75 12,272.73 5,000.00 - 1,357,804.44 160,139.43 (4,824.00) (5,880.00) (10,704.00) 1,536,692.35 £ |
2020 £ 13,021.10 6,723.64 53,683.75 73,428.49 21,272.73 - 517.21 1,046,703.40 160,139.43 (4,824.00) (3,180.00) (8,004.00) 1,294,057.26 £ |
|---|---|---|---|---|---|
Approved by the Trustees and signed on their behalf by:
Graham Egerton Benwell Dated : 21 January 2022
The notes on pages 7 to 11 form part of these accounts.
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THE TRELIX CHARITABLE TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 5 APRIL 2021
1 Grants Made
Grants of £94,000 have been made during the year ended 5 April 2021 (2020: £21,000.00), as follows:
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Institutions | ||
| Action Medical Research for Children | - | 1,000.00 |
| Africa Co-Operative Action Trust | - | 1,000.00 |
| Alive | 500.00 | - |
| All Nations Christian College (re bursaries for overseas students) | 1,000.00 | - |
| Alzheimer's Society | 2,000.00 | 1,500.00 |
| Ansar Youth Project | 1,000.00 | - |
| The Ark Safe Space (supported housing project) | 500.00 | - |
| Barnabas Fund (Middle East Fund re Christians in Syria) | 1,000.00 | - |
| Berkshire Women's Aid | 3,000.00 | 2,000.00 |
| Berkshire Youth | - | 1,000.00 |
| Blind Veterans UK | 500.00 | - |
| Bowel Cancer UK | 500.00 | - |
| Bowel Disease Research Foundation | 1,000.00 | - |
| Bowel Research UK | 500.00 | - |
| The Bradfield Foundation (re Peckham Club) | - | 500.00 |
| The Bromley Christian Workers Trust (supporting Oswestry co-ordinator) | 3,000.00 | - |
| Building for the Future | 1,000.00 | - |
| Centrepoint | 1,000.00 | - |
| Chance for Childhood | 1,000.00 | - |
| Child Autism UK | 1,500.00 | - |
| Christ Church Creekmoor | 500.00 | - |
| Church Mission Society (to support Michael Green in Ipswich) | 3,000.00 | - |
| Church Pastoral Aid Society | 1,000.00 | 1,000.00 |
| Clapton Common Boys Club | 1,000.00 | - |
| The Compassionate Friends | 1,000.00 | - |
| Concern Worldwide | 1,000.00 | - |
| The Connection at St Martin in the Fields | 500.00 | - |
| Corn Exchange Newbury | 1,000.00 | - |
| Criminon UK | 1,500.00 | - |
| Cruse Bereavement Centre | 1,500.00 | - |
| Disasters Emergency Committee | 1,000.00 | 2,000.00 |
| ECPAT UK | 500.00 | - |
| Fareshare | 1,000.00 | - |
| Feeding Bristol | 1,000.00 | - |
| Frank Water Projects | 1,000.00 | - |
| Friends of St Peter's Church, Parkstone | 1,000.00 | 1,000.00 |
| Friends of the Elderly | - | 1,000.00 |
| Friends of the Holy Land Institute for the Deaf | 2,000.00 | - |
| Friends of Wash Common Library | 1,000.00 | 1,000.00 |
| The George Bairstow Charitable Trust | 2,000.00 | - |
| Go Learning Disabilities | 2,500.00 | - |
| Holy Trinity Hermitage | 4,000.00 | - |
| Household Division Fund - Organ Replacement Funds | 2,000.00 | - |
| Innovista | 500.00 | - |
| Integrated Neurological Services | 1,000.00 | - |
| International Otter Survival Fund | 1,000.00 | - |
| IT Schools Africa | 1,000.00 | - |
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THE TRELIX CHARITABLE TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 5 APRIL 2021
| Grants continued Japan Christian Link Kind The Kingham Hill Trust Leeds Boat House Lepra The Leprosy Mission Marie Curie Cancer Care Mission Aviation Fellowship (Indonesia Programme/ T&G Vallance-Webb) The Music Works Nepal Leprosy Trust North London Food Bank Open Doors UK Personal Support Unit Plan International UK Rock 2 Recovery Rosebery Centre Roshan Learning Centre (for the branch supporting refugees in Jakarta) Safe Families for Children Self Help Africa Serendip Children's Home Serving in Mission Silsoe Aid for Appropriate Development Sixty One Speak Life St Georges Wash Common St Mungo's Community Housing Association Stewardship (for the benefit of Ryan Muir) Sue Ryder Support Through Court Syria Relief Tear Fund UK Toynbee Hall Transform Burkina Two: Nineteen Warwickshire Young Carers The Welfare Association Women and Children First Women and Girls Development The Woodland Trust Yesu YMCA Reading Youth on the move |
2021 £ 1,000.00 500.00 1,000.00 - 500.00 1,000.00 1,000.00 4,000.00 1,000.00 500.00 1,000.00 1,500.00 1,000.00 1,000.00 500.00 1,000.00 (2,000.00) 1,000.00 1,000.00 500.00 - 500.00 500.00 1,000.00 4,000.00 1,000.00 4,000.00 1,000.00 1,000.00 1,000.00 500.00 500.00 500.00 1,000.00 1,000.00 1,000.00 500.00 500.00 2,000.00 500.00 1,000.00 500.00 94,000.00 £ |
2020 £ - - - 1,000.00 - - - - - - - 1,000.00 - - - - - - - - 2,000.00 - - - - - - 2,000.00 - - 2,000.00 - - - - - - - - - - - 21,000.00 £ |
|---|---|---|
2. Related Party Transactions
Solicitors fees amounting to £19,800 (2020: £24,600) included in the receipts and payments account relate to fees charged by Blandy & Blandy of which Graham Benwell is a consultant.
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THE TRELIX CHARITABLE TRUST
NOTE 3 - INVESTMENTS AND INCOME FOR THE YEAR ENDED 5 APRIL 2021
| UK Equities and Unit Trusts Aberforth Smaller Companies Ordinary 1p shares AstraZeneca PLC Ordinary US$0.25 shares Berkeley Group Holdings Ordinary 5p shares BP PLC Ordinary US$0.25 shares British Land Co Ordinary 25p shares Close Bros. group Ordinary 25p shares Compass Group PLC Ordinary 11 1/20p shares Diageo PLC Ordinary 28 101/108p shares GlaxoSmithKline PLC Ordinary 25p shares HG Capital Trust Ordinary 2.5p shares HSBC Holdings PLC Ordinary US$0.50 iShares FTSE 100 Fund shares M&G Investment Fund 3 Corp Bond Class I M&G PLC Ordinary 5p shares M&G Securities UK Inflation Linked Corporate Bond I Meggitt PLC Ordinary 5p shares Carried Forward |
Holding 3,000 500 800 7,825 3,440 3,000 2,800 1,550 1,800 20,000 5,000 2,000 125,000 2,375 26,070 6,825 |
Investments at 05. | 04.20 Market Value 24,420.00 35,720.00 27,088.00 26,393.73 10,818.80 Sale 28,290.00 30,800.00 38,099.00 26,809.20 40,000.00 Sale 19,860.00 10,662.00 48,775.00 Sale 2,598.25 Sale 30,071.75 Sale 14,810.25 Sale 415,215.98 |
Movement in Year 24 08 20 15 01 21 13 10 20 29 09 20 13 10 20 29 09 20 |
Acquisitions and | (Realisation) Cost (Proceeds) (12,334.41) (6,224.00) (31,570.00) (3,730.72) (31,407.39) (17,573.09) (102,839.61) |
Profit (Loss) (7,645.47) 3,297.10 3,642.17 293.95 1,488.11 (9,839.65) (8,763.79) |
Holding 3,000 500 800 7,825 - 3,000 2,800 1,550 1,800 18,000 5,000 2,000 50,000 - - - |
Investments at 05. | 04.21 Market Value 44,760.00 35,860.00 36,216.00 22,676.85 46,830.00 41,860.00 46,608.50 22,996.80 58,860.00 21,160.00 13,258.00 20,925.00 - - - 412,011.15 |
2020/2 | 1 9.00 5.00 9.04 0.54 0.00 3.15 0.00 0.00 1.20 7.35 7.04 0.52 2.84 Net In |
com | 2019/20 1,102.50 1,091.50 965.24 2,534.82 274.60 1,980.00 1,131.00 1,062.84 1,440.00 360.00 1,979.86 650.00 1,808.39 - 437.47 1,153.43 17,971.65 e |
|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost 32,719.53 18,661.83 20,684.45 40,147.75 19,979.88 42,346.77 20,499.75 19,459.57 22,726.26 29,269.00 31,212.72 12,872.02 46,546.38 3,436.77 29,919.28 27,412.74 417,894.70 |
Purchase (Sale) (3,440) (2,000) (75,000) (2,375) (26,070) (6,825) |
Cost 32,719.53 18,661.83 20,684.45 40,147.75 - 42,346.77 20,499.75 19,459.57 22,726.26 26,342.10 31,212.72 12,872.02 18,618.55 - - - 306,291.30 |
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| 99 1,03 92 1,57 1,20 1,08 1,44 1,00 38 1,33 51 7 11,56 |
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THE TRELIX CHARITABLE TRUST
INVESTMENTS AND INCOME FOR THE YEAR ENDED 5 APRIL 2021
| Brought Forward UK Equities and Unit Trusts Continued Prudential PLC Ordinary 5p shares Reckitt Benckiser Group PLC Ordinary 10p shares Royal Dutch Shell PLC Ordinary B shares Tritax Big Box Reit PLC Ord GBP0.01 Twentyfour Income Ordinary Red 1p Unilever PLC Ordinary 3 1/9p shares Income from investments sold 2019/20 Overseas Equities and Unit Trusts Baillie Gif Jap Trust Ordinary 5p shares BlackRock European Dynamic Accumulation Cls D Findlay Park Funds PLC American Fund Shares (USD) First State Asia Pacific Leaders Fund B Accumulation shares HICL Infrastructure Ordinary 0.01p shares Impax Environmental Markets Ord GBP0.10 iShares II PLC Global Clean Energy ETF GBP Carried Forward |
Holding 2,375 318 1,610 40,000 930 3,200 7,000 1,335.0007 8,325 18,295 - - |
Investments at 05. | 04.20 Market Value 415,215.98 21,854.75 19,881.36 22,836.24 Sale - Purc 34,240.00 37,544.10 19,232.00 39,266.50 Accu 122,991.19 55,551.06 Accu 27,259.55 Sale - Purc - Purc 815,872.73 |
Movement in Year 10 12 20 hase 13 10 20 mulation 30 04 20 mulation 31 03 21 13 10 20 hase 29 09 20 hase 10 12 20 |
Acquisitions and | (Realisation) Cost (Proceeds) (102,839.61) (22,455.24) 25,642.50 323.86 40.28 (31,080.52) 19,947.04 20,247.96 (90,173.73) |
Profit (Loss) (8,763.79) (1,157.65) 46.47 (9,874.97) |
Holding 2,375 318 - 15,500 40,000 930 3,200 7,000 1,335.0007 8,325 - 5,700 2,000 |
Investments at 05. | 04.21 Market Value 412,011.15 36,848.13 20,660.46 - 28,055.00 43,300.00 37,404.60 34,112.00 64,463.00 159,570.22 80,142.28 - 25,194.00 20,260.00 962,020.84 |
2020/2 | 1 2.84 3.99 5.23 9.73 7.63 0.00 8.07 4.00 3.86 0.28 5.59 7.00 8.22 Net In |
com | 2019/20 17,971.65 1,190.59 550.78 2,368.47 - 2,580.00 1,327.68 3,576.66 112.00 298.00 10.85 575.24 1,500.19 - - 32,062.11 e |
|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost 417,894.70 21,267.60 8,368.75 23,612.89 - 46,317.01 19,735.95 25,097.00 24,388.06 69,653.95 42,955.72 31,034.05 - - 730,325.68 |
Purchase (Sale) (1,610) 15,500 (18,295) 5,700 2,000 |
Cost 306,291.30 21,267.60 8,368.75 - 25,642.50 46,317.01 19,735.95 25,097.00 24,711.92 69,653.95 42,996.00 - 19,947.04 20,247.96 630,276.98 |
|||||||||||||
| 11,56 59 55 59 50 2,56 1,37 14 32 4 75 5 19,07 |
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THE TRELIX CHARITABLE TRUST
INVESTMENTS AND INCOME FOR THE YEAR ENDED 5 APRIL 2021
| Brought Forward Overseas Equities and Unit Trusts Continued Kone OYJ Ser B NPV Man FD Mgmt UK Ltd Japan Core Alpha Pro Acc Mobius Investment Trust Ordinary 1p shares Muzinich & Co Ireland Limited Tactical Cred Hgd S Pictet Asset Management (Europe) Sa Global Enviromental Opp GBP RIT Capital Partners Ordinary £1 shares Ruffer Investment Preference shares Schroder Oriental Income Fund Ord GBP0.01 SSGA SPDR ETFS E I SPDR S&P US Div Aristocrats Utilico Emerging Markets Trust Ordinary 1p shares * Investments representimg more than 5% of the |
Holding 550 17,000.0026 10,000 - - 2,450 14,010 - 1,975 25,000 portfolio |
Investments at 05. | 04.20 Market Value 815,872.73 24,543.49 22,916.00 Accu 6,550.00 - Purc - Purc 38,563.00 31,242.30 - Purc 68,265.88 38,750.00 1,046,703.40 £ Purc Sale Accu Exce |
Movement in Year mulation 31 07 20 hase 15 10 20 hase 14 10 20 hase 24 08 20 hases s mulated Dividends ss Reportable Income |
Acquisitions | and | (Realisation) Cost (Proceeds) (90,173.73) 690.62 31,227.39 33,684.80 12,006.00 (12,564.92) 142,755.69 (156,375.37) 1,054.76 - (£12,564.92) |
Profit (Loss) (9,874.97) 1 (9,874.97) £ |
Holding 550 7,000.0026 10,000 375 130 2,450 14,010 5,100 1,975 25,000 |
Investments at 05. | 04.21 Market Value 962,020.84 32,517.02 30,923.00 11,425.00 29,270.68 35,891.70 58,677.50 40,208.70 14,229.00 93,141.00 * 49,500.00 1,357,804.44 £ le Income |
£ £ |
2020/2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost 730,325.68 22,159.19 18,405.88 10,020.00 - - 36,423.88 31,102.20 - 60,218.00 44,080.62 952,735.45 £ |
Purchase (Sale) 375 130 5,100 |
£ |
Cost 630,276.98 22,159.19 19,096.50 10,020.00 31,227.39 33,684.80 36,423.88 31,102.20 12,006.00 60,218.00 44,080.62 930,295.56 £ Cash Received Dividend Receivab Accumulations Excess reportable |
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