THE RALF TRUST
ANNUAL REPORT YEAR ENDED 5 APRIL 2024
CHARITY INFORMATION
TRUSTEES:
Killik & Co Trustee Limited
46 Grosvenor Street Mayfair London W1K 3HN
Mark Alexander Ralf
Appleby Seaward Drive West Wittering W. Sussex PO20 8AB
Claire Alison Ralf
Appleby Seaward Drive West Wittering
W. Sussex PO20 8AB
OFFICES:
Killik & Co Trustees Limited
Crown House
Crown Street Ipswich
Suffolk IP1 3HS
INVESTMENT MANAGERS:
Killik & Co
46 Grosvenor Street
Mayfair
London W1K 3HN
BANKERS:
Metro Bank One Southampton Row London EC1B 5HA
INDEPENDENT EXAMINER
Killik & Co
Crown House Crown Street Ipswich
Suffolk IP1 3HS
REGISTERED CHARITY NUMBER 1144551
THE RALF TRUST
TRUSTEE’S REPORT YEAR ENDED 5 APRIL 2024
CONSTITUITION AND OBJECTIVES OF THE TRUST
The Ralf Trust is registered with the Charity Commission for England and Wales and constituted by Deed of Trust dated 11 August 2011. Under its terms the Trust is to advance the Christian Religion and education and relieve persons suffering hardship and distress or who are aged or sick or to benefit the community at large.
FURTHERANCE OF THE OBJECTIVES OF THE TRUST
The Trustees are pleased to report that during the year they have donated £41,650 in accordance with the Charity’s objectives as above.
STATEMENT OF THE TRUSTEES’ RESPONISIBILITIES
The Charities Act 1992 and 1993 require 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 surplus or deficit of the Charity for that period. In preparing these financial statements the Trustees are required to:
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Select suitable accounting policies and then apply them consistently.
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Make judgements and estimates that are reasonable and prudent.
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Prepare the financial statements on the going concern basis unless it is inappropriate to do so.
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Act in accordance with the Charity’s constitution and rules.
The Trustees are responsible under Trust Law to ensure the propriety of transactions and for keeping adequate accounting records to enable them to ensure that the financial statements comply with the Charities Act 1992 and 1993. They are also responsible for safeguarding the assets of the Charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The major risks to which the Charity is exposed as identified by the Trustees have been reviewed and systems established to mitigate those risks.
THE RALF TRUST
TRUSTEES’ REPORT (CONTINUED)
YEAR ENDED 5 APRIL 2024
RISK REVIEW
The Trustees have assessed the major risks to which the Charity is exposed in particular those related to operations and finances of The Trust and are satisfied that systems are in place to mitigate our exposure to major risks.
RESERVES AND INVESTMENT POLICY
The Trustees’ policy is to maintain reserves such that income generated is sufficient to meet the running costs and secure the long term existence of the Charity.
On behalf of the Trustees
Julia Hacker
(Authorised Official)
The Ralf Trust Registered Charity Number: 1144551 Accounts for year ended 5 April 2024
Portfolios: KCX70P4 KCX70T4
The Ralf Trust
Registered Charity No: 1144551
Receipts
| Page no. reference Value of Funds as at 6 April 2023 Killik Investment Portfolio 3 Capital T4 Income T4 Capital P4 Income P4 USD Metro Bank cash balance Investment Portfolio - Gains/Losses Realised Loss on sales made in 2022/23 3 Dividend / Interest Income Investments - Income received during 2022/23 3 Platfrom Securities Credit Interest (T4) Platfrom Securities Credit Interest (P4) Unidentifiable Foreign Currency Dividends (P4) Metrobank Credit Interest GiftAid Date HMRC 20/07/2023 HMRC 25/09/2023 Donations Date Claire Ralf 05/07/2023 Stewardship 15/02/2024 Hutton 17/11/2023 St John 17/11/2023 Leaver 17/11/2023 Oundjian 20/11/2023 Mr A H 21/11/2023 Goddard 22/11/2023 Jennings 01/12/2023 Goddard 22/12/2023 Goddard 22/01/2024 Goddard 22/02/2024 Goddard 22/03/2024 Mark Ralf under payroll giving scheme: 20/06/2023 08/08/2023 15/08/2023 05/06/2023 09/10/2023 23/11/2023 01/12/2023 09/01/2024 |
£ 316,625.56 3,320.84 129.35 9,270.84 855.31 244.21 66,565.00 6,761.15 64.02 134.98 148.15 59.78 9,075.00 15,595.22 7,000.00 10,000.00 858.00 858.00 858.00 858.00 858.00 143.00 125.00 143.00 143.00 143.00 143.00 1,723.31 1,844.19 1,799.85 3,446.62 3,599.70 1,799.85 1,799.85 1,799.85 |
£ 397,011.11 12,490.10 7,168.08 416,669.29 24,670.22 17,000.00 5,130.00 |
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Page 1
| 29/01/2024 Amazon 24/04/2023 Amazon 19/05/2023 Total |
1,799.85 5.00 14.51 |
19,613.07 19.51 483,102.09 £ |
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Page 1
The Ralf Trust
Registered Charity No: 1144551
Payments
| Payments made to charities Registered Charity No. Page no. reference 24-7 Prayer 1091413 Day One Prison Ministries 233465 Intercontinental Church Society 1072584 London City Mission 247186 OMF International (UK) 1086040 Operation Mobilisation 1008196 West Wittering Church, Church of England 1141879 Wycliffe Bible Translators 251233 Payments made to Individuals Matthew Greene Killik & Co Investment Portfolio Fees Faster Payment Charge Value of funds as at 5 April 2023 Killik Investment Portfolio 3 Platform Securities Capital T4 Income T4 Capital P4 Income P4 USD Metro Bank |
£ 10,000.00 3,000.00 3,000.00 3,500.00 6,000.00 9,000.00 6,000.00 40,000.00 41.55 3,796.40 15.00 237,553.29 894.92 1,522.90 8,650.39 486.36 - 139,641.28 |
£ 80,500.00 10,000.00 3,852.95 94,352.95 388,749.14 483,102.09 £ |
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Assets
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Trust: The Ralf Trust
Registered Charity Number: 1144551
Schedule of Investments for the year ended 5 April 2024
Realised Unrealised Net
Purchases in Sales in gain/(loss) in gain/(loss) in Income
Security Description Nominal Book Cost Market value Date Nominal 2023/24 2023/24 2023/24 Nominal Book Cost Market value 2023/24 2023/24
05-Apr-23 05-Apr-23 05-Apr-23 05-Apr-24 05-Apr-24 05-Apr-24
£ £ £ £ £ £ £ £ £
Portfolio KCX70P4
Accenture plc 27.00 6,092.77 6,096.07 03/01/2024 27.00 7,305.25 1,212.48 0.00 0.00 0.00 0.00 56.61
Alphabet Inc 80.00 5,888.69 6,738.14 80.00 5,888.69 9,741.38 3,852.69
Amazon Com Inc 65.00 5,123.56 5,273.39 65.00 5,123.56 9,514.30 4,390.74
ASML Holding 13.00 6,237.07 6,900.06 13.00 6,237.07 10,096.29 3,859.22 57.53
Barclays plc ord gbp0.25 3,437.00 6,307.20 5,077.14 03/01/2024 3,437.00 5,256.20 (1,051.00) 0.00 0.00 0.00 0.00 92.80
Berkshire Hathaway Inc Com USD0.0033 Class B 25.00 6,317.28 6,225.12 25.00 6,317.28 8,279.32 1,962.04
BHP group ltd npv (di) 500.00 8,848.45 12,062.50 03/01/2024 325.00 8,569.44 2,817.95 175.00 3,096.96 3,997.88 900.92 418.89
BP ord usd0.25 2,000.00 8,115.05 10,674.00 03/01/2024 725.00 3,402.87 461.16 1,275.00 5,173.34 6,452.78 1,279.44 408.13
Canadian Pacific Railway Ltd Com NPV 95.00 6,086.64 5,776.16 95.00 6,086.64 6,575.05 488.41 31.93
CME Group Inc Com 42.00 6,018.16 6,580.26 42.00 6,018.16 7,013.03 994.87 272.03
Danaher Corp Com 27.00 5,929.44 5,368.04 19/09/2023 18.00 3,668.75 45.00 8,711.10 8,695.14 (15.96) 25.48
Demerger 22/11/2023 (£833.37 + £53.72 Deducted from 2023 Book Cost)
Deutsche Telekom AG 345.00 6,120.43 6,973.55 345.00 5,908.43 6,502.51 594.08
Equalisation 13/04/2023 £212.00 (Deducted from 2023 Book Cost)
Diageo ord gbp0.28 101/108 320.00 5,005.18 11,740.80 03/01/2024 145.00 4,046.59 1,778.62 175.00 2,737.21 4,986.63 2,249.42 256.00
Ecolab Inc Com 12/02/2024 30.00 4,825.34 30.00 4,825.34 5,404.76 579.42
Experian plc ord usd0.10 340.00 10,110.89 9,115.40 03/01/2024 185.00 5,712.76 211.25 155.00 4,609.38 5,255.28 645.90 122.80
Halma ord GBP0.10 285.00 6,059.75 6,141.75 19/09/2023 285.00 5,942.23 (117.52) 0.00 0.00 0.00 0.00 35.17
Infineon Technologies Ag Ord 12/02/2024 115.00 3,350.81 115.00 3,350.81 3,116.16 (234.65) 25.36
International Bus Mach corp com usd0.20 70.00 10,035.89 7,422.72 70.00 10,035.89 10,475.46 439.57 311.26
Intuit Inc Com USD0.01 17.00 5,396.68 5,991.27 17.00 5,396.68 8,548.78 3,152.10 38.46
Intuitive Surgical Inc Com USD0.001 25.00 5,257.95 5,175.75 25.00 5,257.95 7,681.86 2,423.91
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Assets
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Invesco Physical Markets secured gold lkd nts 31/12/2100 usd 45.00 6,148.73 7,040.89 45.00 6,148.73 7,980.74 1,832.01
J P Morgan Chase & Co Com USD1.00 55.00 6,401.33 5,631.75 55.00 6,401.33 8,592.34 2,191.01 152.47
Keyence Corp NPV 18.00 6,419.19 6,823.33 18.00 6,419.19 6,100.36 (318.83) 25.02
Linde Plc Com Eur0.001 23.00 5,962.21 6,565.27 23.00 5,962.21 8,452.16 2,489.95 69.62
Lonza Group AG CHF1 (Regd) 15.00 6,278.58 7,394.40 15.00 6,255.37 7,190.03 934.66 15.16
Equalisation 11/05//2023 £23.21 (Deducted from 2023 Book Cost)
Microsoft Corp com usd0.00000625 55.00 1,064.16 12,550.78 03/01/2024 10.00 2,913.25 2,719.77 45.00 870.68 15,147.38 14,276.70 100.77
MSCI 08/08/2023 10.00 4,283.12 10.00 4,283.12 4,290.34 7.22 29.09
Nestle SA CHF.10 (regd) 90.00 7,302.43 8,992.03 90.00 7,302.43 7,334.22 31.79 153.95
Nextera Energy Inc Com USD0.01 90.00 6,056.91 5,657.77 90.00 6,056.91 4,570.19 (1,486.72) 56.73
NVIDIA Corp Com 19/09/2023 15.00 5,304.36 15.00 5,304.36 10,443.02 5,138.66 0.40
Orsted a/s dkk10 100.00 7,261.87 6,848.14 03/01/2024 100.00 4,103.84 (3,158.03) 0.00 0.00 0.00
Procter & Gamble co com npv 70.00 8,529.22 8,497.35 70.00 8,529.22 8,643.34 114.12 177.35
Prudential gbp0.05 700.00 4,262.72 7,721.00 03/01/2024 700.00 5,845.70 1,582.98 0.00 0.00 0.00 109.31
Relx Plc 21/07/2023 265.00 6,949.76 265.00 6,949.76 8,791.38 1,841.62 45.05
Rio Tinto ord gbp0.10 225.00 6,442.96 11,886.75 03/01/2024 140.00 8,089.38 4,080.43 85.00 2,434.01 4,228.33 1,794.32 726.80
Shell plc ord eur0.07 400.00 8,386.35 9,452.00 03/01/2024 140.00 3,602.99 667.77 260.00 5,451.13 7,226.70 1,775.57 371.62
Sika AG CHF0.01 (Reg) 27.00 5,869.18 5,612.55 27.00 5,869.18 6,286.31 417.13 25.31
Smith(DS) ord gbp0.10 2,500.00 8,457.12 7,687.50 02/08/2023 2,500.00 7,626.15 (830.97) 0.00 0.00 0.00 0.00
SSE plc gbp0.50 875.00 12,812.96 15,868.13 03/01/2024 550.00 10,022.20 1,968.34 325.00 4,759.10 5,164.25 405.15 657.38
Tesco Ord GBP0.06333 2,455.00 6,000.11 6,478.75 03/01/2024 2,455.00 7,301.12 1,301.01 0.00 0.00 0.00 0.00 267.60
Thermo Fisher Scientific inc com usd1 21.00 5,180.39 9,766.83 21.00 5,180.39 9,627.30 4,446.91 19.80
TJX Coc Inc Com Stk USD1 90.00 6,044.90 5,635.38 90.00 6,044.90 6,893.73 848.83 80.03
Unitedhealth Group inc com stk usd0.01 28.00 5,257.21 11,446.38 28.00 5,257.21 10,098.29 4,841.08 70.92
Visa Inc Com Stk USD0.0001 A 35.00 6,278.64 6,407.77 35.00 6,278.64 7,674.93 1,396.29 45.52
Vonovia SE NPV 250.00 6,028.79 3,662.89 250.00 5,847.65 5,410.83 (436.82)
Equalisation 16/06/2023 £181.14 (Deducted from 2023 Book Cost)
Waste Management Inc Com 12/02/2024 35.00 5,250.47 35.00 5,250.47 5,730.10 5,730.10
Xylem inc com usd0.01 87.00 4,682.56 6,999.59 87.00 4,682.56 8,829.50 4,146.94 79.27
Zoetis Inc Class A 12/02/2024 25.00 3,937.10 25.00 3,937.10 3,280.26 (656.84)
Sub Total £ 266,079.60 £ 313,959.35 £ 37,569.71 £ 89,739.97 £13,644.23 £ 226,250.13 £ 300,322.64 £79,322.98 £ 5,431.62
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Assets
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Realised Unrealised Net
Purchases in Sales in gain/(loss) in gain/(loss) in Income
Security Description Nominal Book Cost Market value Date Nominal 2023/24 2023/24 2023/24 Nominal Book Cost Market value 2023/24 2023/24
05-Apr-23 05-Apr-23 05-Apr-23 05-Apr-24 05-Apr-24 05-Apr-24
£ £ £ £ £ £ £ £ £
Portfolio KCX70T4
3i Infrastructure ord npv 836.00 1,517.85 2,633.40 03/01/2024 536.00 1,696.71 723.54 300.00 544.68 976.50 431.82 96.35
BH Macro Ltd Ord NPV 788.00 3,400.22 3,349.00 03/01/2024 493.00 1,800.32 (326.98) 295.00 1,272.93 983.09 (289.84) 0.00
Capital Gearing Trust Ord 0.25 19/12/2023 50.00 2,288.73
03/01/2024 22.00 1,022.07 15.03 28.00 1,281.69 1,317.40 35.71 3.08
C G Portfolio Fund PLC 43.67 6,000.00 5,893.27 05/01/2024 43.67 5,845.67 (154.33) 0.00 0.00 0.00 0.00 126.11
Cordiant Digital Infrastructure Ltd Ord Npv 3,060.00 2,585.70 2,539.80 03/01/2024 1,720.00 1,307.54 (145.86) 1,340.00 1,132.30 849.56 (282.74) 122.40
Franklin Templeton Funds Clearbridge Gbl Infrstr 1,640.57 2,200.00 2,106.49 04/01/2024 822.37 1,000.00 (97.88) 818.20 1,092.32 959.75 (132.57) 88.09
Equalisation £9.80 (Deducted from 2023 Book Cost) 05/06/2023
Hipgnosis Songs Fund Ltd 2,900.00 2,584.49 2,398.30 03/01/2024 2,900.00 2,129.47 (455.02) 0.00 0.00 0.00 0.00 76.12
Londonmetric Property plc ord gbp0.10 3,000.00 6,192.56 5,211.00 03/01/2024 2,473.00 4,617.91 (486.82) 527.00 1,087.83 1,043.99 (43.84) 239.40
Lumyna Marshall Wace 9.424 2,600.00 2,582.03 09/01/2024 5.84 1,700.01 88.23 3.5819 988.22 1,096.28 108.06 0.00
MI Twentyfour Investment Funds 1,375.38 1,400.00 1,391.85 04/01/2024 473.80 500.00 27.58 901.58 898.96 950.08 51.12 50.79
Equalisation £28.62 (Deducted from 2023 Book Cost) 05/06/2023
PGIM Funds PLC 22.09 2,600.00 2,536.11 04/01/2024 13.456 1,500.03 (84.03) 8.63 1,015.94 989.84 (26.10) 32.00
SDCL Energy Efficiency Inc 2,240.00 2,116.13 1,921.92 03/01/2024 2,240.00 1,438.46 (677.67) 0.00 0.00 0.00 0.00 103.48
Sequoia Economic Infrastructure Inc 1,600.00 1,398.40 1,302.40 03/01/2024 1,600.00 1,341.25 (57.15) 0.00 0.00 0.00 0.00 82.50
Tritax Big Box REIT plc ord gbp0.01 4,200.00 6,303.55 5,854.80 03/01/2024 4,200.00 6,953.10 649.55 0.00 0.00 0.00 0.00 176.40
Trojan Investment Funds 2,869.44 3,600.00 3,626.69 04/01/2024 2,055.34 2,600.00 23.77 814.10 1,020.43 1,042.22 21.79 11.21
Equalisation £3.34 (Deducted from 2023 Book Cost) 27/04/2023
Urban Logistics REIT plc ord gbp0.01 2,000.00 2,747.06 2,644.00 03/01/2024 2,000.00 2,483.01 (264.05) 0.00 0.00 0.00 0.00 121.60
Winton UCITS Funds 24.22 3,300.00 3,222.07 04/01/2024 17.117 2,400.09 67.98 7.104 967.89 1,094.08 126.19 0.00
Sub Total £ 50,545.96 £ 49,213.13 £ 2,288.73 £ 40,335.64 -£ 1,154.12 £ 11,303.17 £ 11,302.79 £(0.38) £ 1,329.53
Total £ 316,625.56 £ 363,172.48 £ 39,858.44 £ 130,075.61 £12,490.10 £ 237,553.29 £311,625.43 £79,322.61 £6,761.15
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Page 3
Independent examiner's report to the trustees of The Ralf Trust Reg Charity No. 1144551 on Accounts for the year ended 5 April 2024
I report on the accounts of the Trust for the year ended 5 April 2024, which are set out on pages 1 to 5.
Respective responsibilities of trustees and 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 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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to 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 Charity Commission. An examination includes a review of the accounting records kept by the charity 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 any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
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:
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to keep accounting records in accordance with section 130 of the 2011 Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 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.
Name: Julia Hacker TEP Address: Killik & Co LLP, Crown House, Crown Street, Ipswich, Suffolk IP1 3HS Date: 1 October 2024