## **THE RALF TRUST** ## **ANNUAL REPORT YEAR ENDED 5 APRIL 2025** ## **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: INDEPENDENT EXAMINER REGISTERED CHARITY NUMBER Metro Bank One Southampton Row London EC1B 5HA Killik & Co Crown House Crown Street Ipswich Suffolk IP1 3HS 1144551 **THE RALF TRUST** ## **TRUSTEE’S REPORT YEAR ENDED 5 APRIL 2025** ## **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 situation 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: - Select suitable accounting policies and then apply them consistently. - Make judgements and estimates that are reasonable and prudent. - Prepare the financial statements on the going concern basis unless it is inappropriate to do so. - 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 2025** ## **RISK REVIEW** The Trustees have assessed the major risks to which the Charity is exposed to, 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 Robson Langley (Authorised Official) **The Ralf Trust Registered Charity Number: 1144551 Accounts for year ended 5 April 2025** **Portfolios: KCX70T4 KCX70P4** ## **The Ralf Trust** ## **Registered Charity No: 1144551** ## **Receipts** |**Page no**
**reference**
**£**
**Value of Funds as at 6 April 2024**
Killik Investment Portfolio
237,553.28
Metro Bank Cash Balance
139,641.28
Platform Securities Cash Balance
11,554.57
**_Investment Portfolio - Gains/Losses_**
Realised Loss on sales made in 2024/25
**3**
21,755.68
**_Dividends / Interest Income_**
Dividends Received 2024/25
4,181.19
Capital Repayments from Investments
482.09
Credit Interest - Platform
58.20
Credit Interest - Metro Bank
75.84
**_Gift Aid:_**
**_Date:_**
HMRC
03/09/2024
4,499.63
HMRC
03/09/2024
1,750.00
HMRC
20/12/2024
1,696.75
**_Donations:_**
Mark Ralf Under Payroll Giving Scheme
11/04/2024
3,599.70
Mark Ralf Under Payroll Giving Scheme
06/06/2024
3,599.70
Mark Ralf Under Payroll Giving Scheme
15/07/2024
1,799.85
C Goddard
22/04/2024
143.00
C Goddard
22/05/2024
143.00
Mark Ralf & Claire Ralf
29/07/2024
1,371.00
Curving Road
13/12/2024
10,000.00
**Total:**|**£**
388,749.13
21,755.68
4,797.32
7,946.38
423,248.51
20,656.25
**443,904.76**
**£**| |---|---| Page 1 ## **The Ralf Trust** ## **Registered Charity No: 1144551** ## **Payments** |**Payments made to charities**
**Date**
**Registered**
**Charity No.**
Curving Road
14/05/2024
1121987
Wycliffe UK Ltd
24/05/2024
251233
Alpha International
24/05/2024
1086179
Wycliffe UK Ltd
28/05/2024
251233
24/7 Prayer
29/05/2024
1091413
OMF UK
29/05/2024
1123973
Operation Mobilsation
29/05/2024
1008196
West Wittering PCC
30/05/2024
1141879
The London City Mission
30/05/2024
247186
Day One Christian Ministries
30/05/2024
233465
Release International
30/05/2024
280577
OMF UK
17/07/2024
1123973
Come and See Foundation (Via TrustBridge)
29/07/2024
1169051
CYE Sailing Club
24/12/2024
293781
Chichester Foodbank (Cheque 800179)
23/01/2025
1155197
**Fees & Charges**
Advised Portfolio Fee
Exchange Rate
**Value of funds as at 5 April 2025:**
Killik Investment Portfolio
Metro Bank
Platform Securities|**£**
10,000.00
20,000.00
1,000.00
20,000.00
10,000.00
6,000.00
4,000.00
6,000.00
3,500.00
3,000.00
3,000.00
2,570.00
10,000.00
600.00
100.00
4,374.75
£
134.58
£
226,669.78
72,710.85
40,244.80|**£**
99,770.00
4,509.33
104,279.33
339,625.43
**443,904.76**
**£**| |---|---|---| Page 2 Assets **----- Start of picture text -----**
Trust: The Ralf Trust
Registered Charity Number: 1144551
Schedule of Investments for the year ended 5 April 2025
Realised Unrealised
Purchases Sales in gain/(loss) gain/(loss)
Security Description Nominal Book Cost Market value Nominal in 2024/25 2024/25 in 2024/25 Nominal Book Cost Market value in 2024/25
05-Apr-25 06-Apr-24 06-Apr-24 05-Apr-25 05-Apr-25 05-Apr-25
£ £ £ £ £ £ £ £
KCX70T4 3i Infrastructure Ord 300 544.68 976.50 300 544.68 925.50 380.82
BH Macro Ltd Ord Npv 295 1,272.93 983.09 295 1,272.93 1,124.69 (148.24)
Capital Gearing Trust Ord 28 1,281.69 1,317.40 28 1,281.69 1,330.70 49.01
CG Absolute Return M Gbp Inc 7.26 1000.65 7.26 1,000.65 979.22 (21.43)
Cordiant Digital Infrastructure Ltd Ord Npv 1,340 1,132.30 849.56 1,340 1,132.30 1,112.20 (20.10)
FTF ClearBridge Global Infrastructure Income W Gbp Inc 818.199 1,092.32 959.75 818.199 1,092.32 1,036.66 (55.66)
International Public Partnerships Ltd Ord 582.00 745.75 582 745.75 637.87 (107.88)
Invesco Physical Gold ETC 4.00 810.89 4 810.89 889.78 78.89
LONDONMETRIC PROPERTY PLC ORD 527 1,087.83 1,043.99 527 1,087.83 945.97 (141.86)
Lumyna MW TOPS UCITS B Gbp Hedged Acc 3.5819 988.22 1,096.28 3.5819 988.22 1,101.40 113.18
MI TwentyFour Monument Bond L Gbp Inc 901.58 898.96 950.08 901.58 898.96 967.30 68.34
PGIM Wadhwani Keynes 8.630 1,015.94 989.84 8.63 977.70 -38.24
Trojan X 814.104 1,020.43 1,042.22 814.104 1,020.43 1,096.44 76.01
TwentyFour Income Fund Ltd Ord 694.00 726.17 694 726.17 753.68 27.51
Winton Trend UCITS 7.104 967.89 1,094.08 7.104 967.89 978.73 10.84
KCX70P4 Accenture Plc Class A 0 0.00 0.00 17.00 4897.07 17 4,897.07 3,697.36 (1,199.71)
Alphabet Inc Cap Stock Cl C 80 5,888.69 9,741.38 80 5,888.69 9,018.42 3,129.73
Amazon.com Inc Com 65 5,123.56 9,514.30 20.00 3574.77 85 8,698.33 11,093.77 2,395.44
ASML Holding Nv Eur 13 6,237.07 10,096.29 13 6,237.07 6,189.12 (47.95)
AstraZeneca Plc Ord 50.00 6069.30 50 6,069.30 5,403.50 (665.80)
Berkshire Hathaway Inc Com Cl B 25 6,317.28 8,279.32 25 6,317.28 9,419.57 3,102.29
BHP Group Ltd Npv 175 3,096.96 3,997.88 175.00 3411.07 314.11
BP Plc Ord 1,275 5,173.34 6,452.78 200.00 862.52 51.02 1,075 4,361.84 3,984.76 (377.08)
Canadian Pacific Kansas City Ltd Com Npv 95 6,086.64 6,575.05 95 6,086.64 5,088.21 (998.43)
Costco Wholesale Corporation Com 6.00 4544.46 6 4,544.46 4,196.76 (347.70)
CME Group Inc Com Cl A 42 6,018.16 7,013.03 42.00 7863.34 1845.18
Danaher Corp Com 45 8,711.10 8,695.14 45 8,711.10 6,240.87 (2,470.23)
Deutsche Telekom Ag Npv 345 5,908.43 6,502.51 345.00 8333.20 2424.77
Diageo Plc Ord 175 2,737.21 4,986.63 175 2,737.21 3,521.00 783.79
Ecolab Inc Com 30 4,825.34 5,404.76 30 4,825.34 5,443.25 617.91
Eli Lilly & Company Com 8.00 4912.33
2.00 1440.14 212.06 6 3,684.25 3,381.70 (302.54)
Experian Plc Ord 155 4,609.38 5,255.28 155 4,609.38 5,031.30 421.92
Freeport-McMoRan Inc Com 153.00 5029.34 153 5,029.34 3,403.07 (1,626.27)
Gallagher AJ & Co Com Usd 28.00 6320.83 28 6,320.83 6,823 502.43
Infineon Technologies Ag Ord 115 3,350.81 3,116.16 115 3,350.81 2,540.21 (810.60)
International Business Machines Corp Com 70 10,035.89 10,475.46 70.00 12492.37 2456.48
Intuit Inc Usd 17 5,396.68 8,548.78 17.00 8623.97 3227.29
Intuitive Surgical Inc Com 25 5,257.95 7,681.86 13.00 5943.79 3209.66 12 2,523.82 4,135.28 1,611.46
Invesco Physical Gold ETC 45 6,148.73 7,980.74 45.00 9978.32 3829.59
JPMorgan Chase & Co Com 55 6,401.33 8,592.34 14.00 2864.02 1234.59 41 4,771.90 6,581.00 1,809.10
Keyence Corp Npv 18 6,419.19 6,100 18 6,419.19 5,196 5,195.77
Linde Plc Com 23 5,962.21 8,452.16 3.00 1094.05 316.37 20 5,184.53 6,684.36 1,499.83
Lonza Group Ag Chf 15 6,255.37 7,190.03 7.00 3507.59 588.42 8 3,336.20 3,684.83 348.63
Meta Platforms Inc Com 10.00 4968.59 10 4,968.59 3,852.59 (1,116.00)
Microsoft Corp Com 45 870.67 15,147.38 45 870.67 12,357.74 11,487.07
MSCI Inc Com 10 4,283.12 4,290.34 10 4,283.12 3,873.05 (410.07)
**----- End of picture text -----**
Page 3 Assets **----- Start of picture text -----**
Nestle Sa Chf 90 7,302.43 7,334.22 90.00 5922.12 -1380.31
NextEra Energy Inc Com 90 6,056.91 4,570.19 90 6,056.91 4,597.14 (1,459.77)
NVIDIA Corp Com 15 5,304.36 10,443.02 135.00 0.00 150 5,304.36 10,796.16 5,491.80
Procter & Gamble Co Com 70 8,529.22 8,643.34 70 8,529.22 8,748.14 218.92
RELX Plc Ord 265 6,949.76 8,791.38 265 6,949.76 10,111.08 3,161.32
Rio Tinto Ord 85 2,434.01 4,228.33 85 2,434.01 3,602.94 1,168.93
SAP Se Ord 20.00 4125.58 20 4,125.58 3,902.89 (222.69)
ServiceNow Inc Com 7.00 5912.22 7 5,912.22 3,852.32 (2,059.90)
Shell Plc Ord 260 5,451.13 7,226.70 30.00 795.03 166.05 230 4,822.15 5,707.45 5,707.45
Sika Ag Chf 27 5,869.18 6,286.31 10.00 1999.76 -174.01
14.00 2857.96 31 6,553.37 5,474.99 (1,078.38)
SSE Plc Ord 325 4,759.10 5,164.25 325 4,759.10 5,203.25 444.15
Thermo Fisher Scientific Inc Com 21 5,180.39 9,627.30 6.00 2503.62 1023.51 15 3,700.28 5,009.78 1,309.50
TJX Companies Inc Com 90 6,044.90 6,893.73 90 6,044.90 8,390.89 2,345.99
Unitedhealth Group Com 28 5,257.21 10,098.29 28 5,257.21 11,227.95 5,970.74
Universal Music Group Nv Eur 200 4052.96 200 4,052.96 3,981.38 (71.58)
Visa Inc Com 35 6,278.64 7,674.93 35.00 8798.53 2519.89
Vonovia Se Npv 250 5,847.65 5,410.83 250.00 5776.91 -70.74
Waste Management Inc Com 35 5,250.47 5,730.10 35 5,250.47 6,016.39 765.92
Xylem Inc Com 87 4,682.56 8,829.50 87 4,682.56 6,945.43 2,262.87
Zoetis Inc Class A 25 3,937.10 3,280.26 25 3,937.10 2,894.78 (1,042.32)
Sub Total £237,553.28 £311,625.39 £60,548.87 £93,188.05 £21,755.68 £226,669.78 £261,183.84 £ 45,755.39
**----- End of picture text -----**
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 2025** I report on the accounts of the Trust for the year ended 5 April 2025, 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: - examine the accounts under section 145 of the 2011 Act; - 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 - 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: - to keep accounting records in accordance with section 130 of the 2011 Act; and - 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: Robson Langley Address: Killik & Co LLP, Crown House, Crown Street, Ipswich, Suffolk IP1 3HS Date: 5[th] February 2026