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||Page|
|---|---|
|Legalandadministrativeinformation|1|
|Trustees'report|2-4|
|Independentexaminer'sreport|5|
|Statementoffinancialactivities|6|
|Statementoffinancialposition|7|
|Notestothefinancialstatements|8-14|
|Scheduleofinvestmentsandincome|15-20|





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|Trustees|MrDavidWilliamEdmundSterry|
|---|---|
||MrsWendyAnnSterry|
||MrJamesWilliamSterry|
||MrsNicolaKateClatworthy|
|Charitynumber|1143953|
|Independentexaminer|MrJamesHurrell|
||RathbonesTrustCompanyLimited|
||30GreshamStreet|
||London|
||EC2V7QN|
|Accountants|RathbonesTrustCompanyLimited|
||30GreshamStreet|
||London|
||EC2V7QN|
|Investmentmanager|RathbonesInvestmentManagementLimited|
||30GreshamStreet|
||London|
||EC2V7QN|





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|||Unrestricted|Unrestricted|
|---|---|---|---|
|||funds|funds|
|||2024|2023|
||Notes|<br>£|£|
|Incomeandendowments||||
|Investments|3|105,022|76,359|
|Otherincome|4|471||
|Totalincome||105,493|76,359|
|Expenditure||||
|Raisingfunds|5|16,960|16,737|
|Charitableactivities|6|97,361|121,773|
|Totalresourcesexpended||114,321|138,510|
|Netgains/(losses)oninvestments|13|164,891|(328,525)|
|Netmovementinfunds||156,063|(390,676)|
|Fundbalancesat6April2023||3,549,210|3,939,886|
|Fundbalancesat5April2024||3,705,273|3,549,210|





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|||2024||2023||
|---|---|---|---|---|---|
||Notes|£|£|£|£|
|Fixedassets||||||
|Investments|12||3,629,079||3,497,535|
|Currentassets||||||
|Debtors|14|2,301||||
|Cashatbankandinhand||82,450||59,952||
|||84,751||59,952||
|Creditors:amountsfallingduewithin||||||
|oneyear|15|(8,557)||(8,277)||
|Netcurrentassets|||76,194||51,675|
|Totalassetslesscurrentliabilities|||3,705,273||3,549,210|
|Incomefunds||||||
|Unrestrictedfunds|||3,705,273||3,549,210|
||||3,705,273||3,549,210|





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|||Unrestricted|Unrestricted|
|---|---|---|---|
|||funds|funds|
|||2024|2023|
|||£|£|
||UKdividends|32,412|29,860|
||UKInterestfromfixedandunittrusts|36,632|17,926|
||Overseasdividendsandinterest|20,124|20,308|
||Bankinterest|15,854|8,265|
|||105,022|76,359|
|4|Otherincome|||
|||2024|2023|
|||£|£|
||Accruedincome|471||
|5|Raisingfunds|||
|||2024|2023|
|||£|£|
||Investmentmanagementfees|16,960|16,737|





## 

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## 

||Unrestricted|Unrestricted|
|---|---|---|
||funds|<br>funds|
||2024|<br>2023|
||£|<br>£|
|Grants(seenote17)|90,400|<br>110,200|
|Shareofgovernancecosts(seenote8)|6,961|<br>11,573|
||97,361|<br>121,773|
|Grantspayable|||
||Total|Total|
||2024|2023|
||£|£|
|Grantstoinstitutions:|||
|Children|23,000|35,000|
|Disability|3,000|6,000|
|Poverty|4,000|4,000|
|Individuals|2,400|2,400|
|International|35,000|22,000|
|Sport|8,000|19,800|
|Theatre&Arts|10,000|10,000|
|Education|5,000||
|Other||11,000|
||90,400|110,200|



## 

|Governancecosts|||||
|---|---|---|---|---|
||SupportcostsGovernancecosts||2024|2023|
||£|£|£|£|
|Bankcharges||61|61|28|
|Accountancy||2,725|2,725|2,690|
|Legalfees||2,700|2,700|7,380|
|Independentexaminer'sfees||1,475|1,475|1,475|
|||6,961|6,961|11,573|



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||Listed|Cashin|Total|
|---|---|---|---|
||investments|portfolio||
|||£|£|
|Valuation||||
|At6April2023|3,032,621|464,914|3,497,535|
|Additions|1,358,760||1,358,760|
|Valuationchanges|154,117||154,117|
|Realisedprofit|10,774||10,774|
|Invested||(82,649)|(82,649)|
|Disposals|(1,309,458)||(1,309,458)|
|At5April2024|3,246,814|382,265|3,629,079|
|At5April2023|3,032,621|464,914|3,497,535|



|Investment|Units|MarketValue<br>%ofTotalMarket|MarketValue<br>%ofTotalMarket|
|---|---|---|---|
|||£|Value|
|ArtemisCorporateBond|250,000|<br>229,575|7.07%|
|BailieGiffordStrategicBondBInc|300,000|<br>228,450|7.04%|
|BlackrockCorpBond|216,238|<br>218,855|6.74%|
|JPMorganAmericanInvTrust|20,000|<br>195,600|6.02%|
|MercantileInvestmentTrust|75,000|<br>166,500|5.13%|
|MurrayIncomeTrust|20,000|<br>165,000|5.08%|
|MurrayInternational|70,000|<br>173,600|5.35%|
|PolarCapitalTechnologyTrust|8,000|<br>239,600|7.38%|
|ScottishMortgagesInvTrustPLC|29,500|<br>252,992|7.79%|
|WsRufferInvestment|49,763|<br>172,075|5.30%|



||2024|2023|
|---|---|---|
||£|£|
|Listedinvestments|3,246,814|3,032,621|
|Cashininvestmentportfolio|382,265|464,914|
||3,629,079|3,497,535|





## 

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|13|Netgains/(losses)oninvestments|||
|---|---|---|---|
|||2024|2023|
|||£|£|
||Gain/loss)onrevaluationofinvestments|154,117|(188,984)|
||Gain/(loss)onsaleofinvestments|10,774|(139,541)|
|||164,891|(328,525)|
|14|Debtors|||
|||2024|2023|
||Amountsfallingduewithinoneyear:|£|£|
||Prepaymentsandaccruedincome|2,301||
|15|Creditors:amountsfallingduewithinoneyear|||
|||2024|2023|
|||£|£|
||Accrualsanddeferredincome|8,557|8,277|





## 

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|17|Grantspayable||||
|---|---|---|---|---|
|||OutsideofUK|2024|2023|
||||£|£|
||Grantstoinstitutions:||||
||APEProject|||3,000|
||BirminghamBallet|||3,000|
||BocciaEngland||2,000|3,000|
||Cecily'sFund|Zambia|4,000||
||Challengers||4,000|4,000|
||ChildrenonTheEdge|Uganda|4,000|4,000|
||CityUniversity||5,000||
||CricketwithoutBoundaries|||2,000|
||DramaExpressionsforChildren||2,000|2,000|
||EikonCharity||3,000|2,000|
||FelixProject||4,000|4,000|
||FootstepsInternational|Kenya|3,000|3,000|
||ForeverAngels|Tanzania|3,000||
||GetSet4Tennis|||3,000|
||HandicappedChildren'sActionGroup|||3,000|
||HappyDays|||5,000|
||HoneyPotChildren'sCharity||3,000|3,000|
||ImpactFoundation|Kenya|3,000||
||IslandTrust|||3,000|
||Jessie'sTrust||2,000||
||KeenLondon||3,000|3,000|
||KidsClubKampala|Uganda|4,000|3,000|
||KidsOut|||2,000|
||KMCharity|||2,000|
||LunchbowlNetwork|Kenya|4,000|3,000|
||MalaikaKids|Tanzania|4,000|4,000|
||NorthernBallet|||12,000|
||OrionHarriers|||1,800|
||RainbowTrust||5,000|5,000|
||Re-cycleBikesAfrica|Zambia||3,000|
||SandDams|Kenya|2,000||
||SightforSurrey||3,000|3,000|
||SquarePegsArts||4,000|4,000|
||StarlightChildren'sFoundation||3,000|3,000|
||SnowCamp||4,000|4,000|
||TankertonFootballClub||2,000||
||ThomasTheyer Foundation|||3,000|
||TotalInsightTheatre||2,000||
||TreloarTrust|||3,000|
||ToolsforSelfReliance|Malawi|2,000||
||YoungUrbanArtsFoundation||2,000||
||ZambiaOrphansAidUK|Zambia|2,000|2,000|
||Carriedforward||88,000|107,800|





## 

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|||||
|---|---|---|---|
|Grantspayable|||(Continued)|
||OutsideofUK|2024|2023|
|||£|£|
|Broughtforward||88,000|107,800|
|Grantstoindividuals:||||
|EthanO'Shea||1,200|1,200|
|CEAlexander||1,200|1,200|
|||2,400|2,400|
|Total||90,400|110,200|



## 

||At6April|Incoming|Resources|Gainsand|At5April|
|---|---|---|---|---|---|
||2023|resources|expended|losses|2024|
||£|£|£|£|£|
|Generalfunds|3,549,210|105,493|(114,321)|164,891|3,705,273|
|Previousyear:|At6April|Incoming|Resources|Gainsand|At5April|
||2022|resources|expended|losses|2023|
||£|£|£|£|£|
|Generalfunds|3,939,886|76,359|(138,510)|(328,525)|3,549,210|





## 

## 

||Holding|MarketValue|Additions||Disposals|Disposals|Profit|Unrealised|Holding|Holding|MarketValue|GrossIncome|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|6|April2023|6April2023|Quantity|Cost|Quantity|Proceeds|(Loss)|Profit|5April|2024|5April2024||
|||£||£||£|£||£||£|£|
|3iInfrastructure|||||||||||||
|OrdinaryNoParValue|||||||||||||
||40,000|126,000|9,250|30,062||||||||2,230|
|||||||||||||2,260|
|||||||||4,247||49,250|160,309|<br>120|
|ArtemisFundManagers|||||||||||||
|CorporateBondFGBPDis|||||||||||||
||200,000|179,880||(345)||||||||1,806|
||||50,000|42,915||||||||2,350|
|||||(315)||||||||2,864|
|||||||||7,440|250,000||229,575|<br>3,133|
|BaillieGifford|||||||||||||
|StrategicBondBIncNay|||||||||||||
||215,000|157,810|85,000|60,809||||||||452|
|||||(178)||||||||452|
|||||||||||||452|
|||||||||||||452|
|||||||||||||1,200|
|||||||||||||1,200|
|||||||||||||1,680|
|||||||||||||630|
|||||||||||||630|
|||||||||||||630|
|||||||||||||870|
|||||||||10,009|300,000||228,450|<br>870|





## 

|Holding|MarketValue|Additions||Disposals|Disposals|Profit|Unrealised|Holding|Holding|MarketValueGrossIncome|MarketValueGrossIncome|
|---|---|---|---|---|---|---|---|---|---|---|---|
|6April2023|6April2023|Quantity|Cost|Quantity|Proceeds|(Loss)|Profit|5April|2024|5April2024||
||£||£||£|£||£||£|£|
|BaillieGifford&Co||||||||||||
|PositiveChangeBAcc||||||||||||
|42,300|131,638||465|42,300|137,644|5,541|||||465|
|BlackrockAssetManagementUKLtd||||||||||||
|CorporateBondInc||||||||||||
|160,000|163,600|||160,000|153,616|(9,984)|||||1,520|
||||||||||||1,683|
||||||||||||1,746|
||||||||||||1,814|
|BlackrockFundManagersLtd||||||||||||
|CorporateBondSInc||||||||||||
|||166,238|153,616||||||||284|
|||50,000|46,559||||||||546|
||||(242)||||18,922|216,238||218,855||
|CGPortfolioFund||||||||||||
|RealReturn'A'||||||||||||
|800|160,128|||800|171,356||11,228||||3,562|
|CgPortfolioFundlcav||||||||||||
|RealReturnAGBPNav||||||||||||
|ChangedfromCGPortfolioFdPlcRealReturnAGBPNav||on21/02/2024||||||||||
|||800|171,356||||(21,028)||800|150,328||





## 

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||Holding|Market|Value|Additions||Disposals|Disposals|Profit|Unrealised|Holding|Holding|MarketValue|GrossIncome|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|6|April2023|6April|2023|Quantity|Cost|Quantity|Proceeds|(Loss)|Profit|5April|2024|5April2024||
|||£|||£||£|£||£||£|£|
|EdinburghInvestmentTrust||||||||||||||
|Ordinary25p||||||||||||||
||22,000|144,100|||||||||||1,474|
||||||||||||||1,474|
||||||||||||||1,474|
||||||||||7,040||22,000|151,140|<br>1,474|
|FinsburyGrowthTrust||||||||||||||
|Ordinary25p||||||||||||||
||12,160|109,075|||||||||||1,034|
||||||||||(7,904)||12,160|101,171|<br>1,277|
|FirstTrust||||||||||||||
|CloudComputingUCITSETF||||||||||||||
||4,200||91,151|||4,200|108,706|17,555||||||
|HidInfrastructurePlc||||||||||||||
|OrdinaryGBP0.0001||||||||||||||
||104,000|161,824||24,000|30,312||||||||689|
||||||||||||||1,464|
||||||||||||||43|
||||||||||||||2,100|
||||||||||||||943|
||||||||||||||1,200|
||||||||||||||878|
||||||||||(32,136)|128,000||160,000|<br>1,264|





## 

|Holding|Holding|MarketValue|Additions||Disposals|Disposals|Profit|Unrealised|Holding|Holding|MarketValueGrossIncome|MarketValueGrossIncome|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|6April|2023|6April2023|Quantity|Cost|Quantity|Proceeds|(Loss)|Profit|5April|2024|5April2024||
|||`£`||`£`||`£`|`£`||`£`||`£`|`£`|
|IfslEvenlodeInvestmentFundsIcyc|||||||||||||
|lfslEvenlodeIncomeFundDDis|||||||||||||
|ChangedfromEvenlodeInvMgmtLtdTb||EvenlodeIncomeDDison02/10/2023|||||||||||
|ChangedfromWsEvenlodeInvestmentFundsIcvcWsEvenlodeIncomeFund||||DDison09/03/2024|||||||||
||79,986|<br>204,013|||79,986|201,270|(2,743)|||||1,616|
|||||||||||||1,353|
|JlenEnvironmentalAssetsGroup|Ltd||||||||||||
|OrdinaryNoParValue|||||||||||||
|160,000||<br>193,280||||||||||2,864|
|||||||||||||3,024|
|||||||||||||3,024|
|||||||||(51,840)|160,000||141,440|3,040|
|JPMorganAmericanInvTrustplc|||||||||||||
|Ordinary5pshares|||||||||||||
||24,320|169,997|||4,320|35,531|5,334|||||1,155|
|||||||||55,800||20,000|195,600|608|
|LinkFundSolutionsLtd|||||||||||||
|TrojanXInc|||||||||||||
|134,000||169,363|||134,000|166,508|(2,855)||||||
|MercantileInvestmentTstPic(The)|||||||||||||
|OrdinaryGBP0.025|||||||||||||
||||75,000|153,000||||||||1,088|
|||||||||||||1,088|
|||||||||13,500||75,000|166,500|1,088|





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||Holding|Holding|MarketValue|Additions||Disposals|Disposals|Profit|Unrealised|Holding|Holding|MarketValue|GrossIncome|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|6|April|2023|6April2023|Quantity|Cost|Quantity|Proceeds|(Loss)|Profit|5April|2024|5April2024||
||||£||£||£|£||£||£|£|
|MurrayIncomeTst||||||||||||||
|OrdinaryGBP0.25||||||||||||||
|||||20,000|159,800||||||||1,900|
||||||||||5,200||20,000|165,000|<br>1,900|
|MurrayInternationalTrust||||||||||||||
|OrdinaryGBP0.05||||||||||||||
|||||70,000|167,300||||||||1,680|
||||||||||6,300||70,000|173,600|<br>1,680|
|PersonalAssetsTrustPlc||||||||||||||
|GBP0.125||||||||||||||
|||40,000|189,800|||40,000|187,640|(2,160)|||||560|
|PolarCapitalTechnologyTrust||||||||||||||
|Ordinary25p||||||||||||||
|||8,000|156,320||||||83,280||8,000|239,600||
|ScottishMortgageInvTrust||||||||||||||
|Ord5p||||||||||||||
|||29,500|189,567||||||||||738|
||||||||||63,425||29,500|252,992|<br>472|
|SSGASPDRETFSEurope|Iplc|||||||||||||
|S&O500ETF(GBP)||||||||||||||
|||450|147,102|||450|147,186|84||||||
|Treasury||||||||||||||
|41/4%Stk07/06/2032||||||||||||||
|||||112,500|117,236||||(2,182)|112,500||115,054||





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|Holding|Holding|MarketValue|Additions||Disposals|Disposals|Profit|Unrealised|Holding|Holding|MarketValue|GrossIncome|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|6April|2023|6April2023|Quantity|Cost|Quantity|Proceeds|(Loss)|Profit|5April|2024|5April2024||
|||`£`||`£`||`£`|`£`||`£`||`£`|`£`|
|Treasury|||||||||||||
|41/4%Stk2036|||||||||||||
||||110,000|109,338||||1,432|110,000||110,770|<br>2,338|
|UnitedKingdom(GovernmentOf)|||||||||||||
|0.875%Bds31/01/2046GBP1000'regs'|||||||||||||
||||230,000|117,072||||(2,716)|230,000||114,356|<br>1,006|
|WsRufferInvestmentFunds|||||||||||||
|WsRufferTotalReturnJDis|||||||||||||
|ChangedfromLinkFundSolutionsLtdRufferTotalReturnJDison09/10/2023|||||||||||||
||49,763|187,974||||||||||2,437|
|||||||||(15,899)||49,763|172,075|<br>1,827|
|TOTAL:||3,032,622||1,358,760||1,309,457|10,772|154,118|||3,246,815|<br>89,175|