THE FRED TOWLER CHARITY TRUST uNAUDED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Charity Number.. 225026
THE FRED TOWLER CHARITY TRUST MEMBERS OF BOARD AND PROFESSIONAL ADVISORS FOR THE YEAR ENDED 5 APRIL 2024 THE BOARD OF TRUSTEES Mr R J R Allan Ichaiman) Mr P Fattorini Mr P G Meredith Miss S M Patchett Mr M Sweeney Miss B Craig Mrs J Lister MrA Wintersgill Mr P W Geldeard lappointed 28 July 20231 Miss T Ackemley (appointed 27 July 20231 BANKERS Barclays Bank PLC 10 Mad(el Street Bra(fford BD1 1NR INVESTMENT MANAGER Quilter Cheviol Ltd Senator House 85 Qu&n Victoria Street London EC4V 4AB INDEPENDEMf EXAMINER Kery Gallagher RSM UK Tax and Accounting Limited Davidson House. Forbury Square Reading Berkshire RG13EU
THE FRED TOWLER CHARITY TRUST TRUSTEES. ANNUAL REPORT YEAR ENDED S APRIL 2024 The trustees present their report and the financial statements of the tharity for the yearended 5 April 2024. The financial ststements have been prepared in accordance wih the accounts.ng pdiaes set out in notes lo the rinancial statements and Comply wtth the charity's trust de1. the Charities Act 2Q11 and Accounb'ng and Reporting by Charities". Slalemenl of Recommended Practsce (second edition) applicable lo charibes preparing their financial statements in accordance with the Financial Reporh"ng Standard applicable in the UK and Republic of Iland. NAME AND REGISTERED OFFICE OF THE CHARITY The full name ofthe charity is The Fred TovAer Chanty Trust and its principal operakn.ng address is Fth Floor, Central Square, 29 Wellington Street, Leeds, LS14DL. CONSTITUTION The Fred Towler Charity Trust was fomied in 1942 by the 11 of Fred ToYAer deceased. The trust is govemed by the wll proved al the Principal Probate Registry on 1 February 1943 and scheme of 11 March 1969. The tbusl is a registered eharity (registration number 2250261 and is unincorwraled. OBJECTIVES When planning the act"wties for the year, the trustees have considered the Chaty Commission's guidance on public benefit. The objectives oflhe twst are to provide holidays and grants forthe sick, aged and youth Sident in Bradford. MEfHOD OF ELECTION OF TRUSTEES Any trustee is able to nominate a person to stsnd as a truslee aTrJ they are elected by consent of all trustees via a deed of resolutic of the trustees. INVESTMENT POWERS The Iruslees may invest as ifthey were beneficially entitted. INVESTMENT POLICY The investment ObltIveS we.. Capital growth and income 1h slightty m¢)re eMphaS on Incle. Meolium risk. No UK tax is payable by the trust. The investment suWJmmittee of Messrs P G Med1th, R J R Allan and Mrs J Lister deal with the review of investment recommendab.on advice from stkbr0ker and other financial institutions. Guidelines for the performan ofthe funds have been set and will be rerted upon on a yearfy basis. Ufttil 2013, separate investment portfolios were maintained for the holiday lund and general fund In 2013 they were combined into a single portfolio. Since that tirne investment income. aUl$It10n5 and disposals have been allocated 32 50h lo the holiday fund and 67.5% to the genernl fund, this b.g the ratio of the respective values al the date of amalgamation. RESERVES POLICY The policy of the charity is to maintain sufficient caprtal to allowthe tnjstees lo cary (xrtthe objectives of the tharity. The b8nce held as restn.cted fijnds at 5 Apnl 2024 was £324,950 {2023". £286,486) During the yèar we spent £9.000 on holiday grants. Thefore. the Current levd of restricted reseryes is at a suffiaent level to continue paying holiday grants in the future.
THE FRED TOWLER CHARITY TRUST TRUSTEES, ANNUAL REPORT YEAR ENDED S APRIL 2024 The balance held as unrestricted funds al 5 2024 was £1.254,34012023= £1.174.685) During the yeargeneral grants of£18.925 were paid lo sick, aged and youth $[dentS in Bradford. Therefo, the current level of unresth.cted reserves is at a sufficient level lo continue paying general grants In the future. RISK FACTORS The trustees annually assess the major risks to which the thanty is exposed arnl are all satisfied that systems are in place to mitigate exposure lo the major risks. REVIEWOF DEVELOPMENTS, ACTIVITIESAND ACHIEVEMENTS The trustees made grants relating to holidays amounting to £9.OCQ during the year12023- £5,580). In addition, the Iruslees made general grants totaling £18.925 {2023- £23,350)_ Income for the year was £41,968 {2023 - £39,647) which after the costs of general grants, holiday grants, overheads and investment gainslllosses} resulled in a net income for the year of £118,11912023- £137,621 net expenditurel The general grant making policy of the trustees is lo make payments to charities represerFting the sid(, aged and youth residents of Bradford. An analysis of grants paid Sick 3,550 5.525 9.850 Youlh Total 18,925 A detailed summary of both general and holiday grants paid is availai4e on page 19. The Iruslees con&dei that the obJ'ecbve5 of the charity have been met during the year. THE TRUSTEES Detsils of persons who served as twslees during the yearwere as follcrws.. Mr R J R Allan Ichaifman) Mr P Fattorini Mr P G Meredrth Miss S M Patchett Mr M Sweeney Miss B Craig Mrs J Lister Mr A Wnlersgi MrP W Geldeard Miss T AckeAnley Grants are made in July and December of each year to other charib"es. The grants are made wlhin restrictions laid down by the wll that 'lJ of disposable income is allccated to holiday costs. whilst 213 is allocated lo making other general charitable grants.
THE FRED TOWLER CHARifrf TRUST TRUSTEES. ANNUAL REPORT YEAR ENDED 5 APRIL 2024 KEY MANAGEMENT PERSONNEL REMUNERATION The trustee5 consider the boarf of trustees as eompri&ng the key management personnel of the charity in eharye of directing and controlling the tharity and running and operating the charity on a day lo day basis. All Iruslees give of their time freely and no trustee remunerats.on was p"d in the year. Details of relate(J paty transactions are disdosed in note 10 to the accounts_ Approved by the Tnjstees cffl..............................and signed on their behalf ty. . Twslee
THE FRED TOVVLER CHARITY TRUST STATEMENT OF TRUSTEES, RESPONSI8ILrfiES YEAR ENDED 5 APRIL 2024 The trustees are responsible for preparing the Trustees. Annual Report and the finanaal statements in accordance with applicable law and United "ngdoM Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable lo tharities in England alld WJes wuires the Irustee5 to prepare financial slalements frjr eath financial ye81 which give a true and fair view of the State of affair5 of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial Statements, the ttuslees are required lo.. sdect suitable accounting poliues and then apply them nsistenY observe the melh(xJs and principles in the applicable Chanties SORP make jLKlgments and esbmales that are reasonable and prudent slate whether applicable accounting standards have been followed, subject to any material departure5 disclosed and explaine(l in the financial ststements. and prepare the financial statements on the going concem bags unless il is inappropnate to presume bw the challty will conkn.nue in business. The trustees are responsible for keeping proper acccNJnb"ng records that disclose th aSOnable accuracy al any lime the finanaal posibon ofthe charity 8nd enable them lo ensure that the financial ststemenls comply with the Charitie5 Act 2011. the applicable Char"e5 (Accounts and Reports) Regulations and the provisions of the trust deed. They are Jso responsible for safeguarding the assets of the charity and hen for tsking reasonable steps for the prevention and deleth.on of fraud and other irregularib"es.
INDEPENDENT EXAMINER'S REPORT ON THE UNAUDrrED FINANCIAL STATEMENTS TO THE TRUSTEES OF THE FRED TOWLER CHARITY TRUST I report to the trustees on my examination of the financial sLitements of The Fred Towler Charity Trust for the year ended 5 Aprnl 2024, which are sel out on pages 7 to 19. Responsibilities and basis of report As the Iru51ees of the charity you are resp)nsible for the preparabon of the accounts in awrdance with the requirements of the Charities Act 2011 {'the 2011 Acf). I report in respect of my examination of the charty's accounts carried out under section 145 of the 2011 Act and in carying out my examinab.on I have followed all the applicable Directs"ons given by the Charity Commission under section 14515llb) of the 2011 Act. An independent examination does not involve gathering all the evidence that would be required in an audit and consequenlty does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audrt goes beyond the limited assurants that an independent examinab'on can provide. Consequenuy, l express no opinion as lo whether the accounts present a 'true and fair view, and my report is limited to those spe¢tfic matters set out in the independent examiner's statement. Independent examiDerfs statement I have completed my examinats"on. I confirm that no material matters have come lo my attenkn'on in connection with the examination gwing me reasonable cause to believe that in any material respect". accounts'ng records were not kept in respect of the charity as required by section 130 of the 2011 Act., or 2. the accounts do not accord with those records". ( 3. the accounts do not comply with the applicable requirements conmIng the form and content of accounts sel out in the Charities (Accounts and Reports} Regulations 2008 other than any requirement that the a¢¢ounts give a 'true and fair view, which is not a matter considered as part of an independent examination. I have no ¢oncems and have come across no other matters in connection with the exarnination to which attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. Eekpy Gallyhe Kerry Gallagher FCA DChA The Institute of Chartered Accountants in England and Wales On behalf of RSM UK Tax and Accounting Limited Chartered Accountsnts Davidson House, Forbury Square Reading Berkshire RGI 3EU Dale. 26111124
THE FRED TOWLER CHARITY TRUST UNAUDITED STATEMENT OF FINANCIAL AcrIEs YEAR ENDED 5 APRIL 2024 Restricted unresth.ded Furxjs Funds Total Funds 2023 Funds Restn"cted Unrestricted 2024 Funds Funds INCOME FROM. Investmetrts 13.640 28,328 41, 12.886 26,761 39,647 TOTAL INCOME 13.640 28.328 41,968 12,886 26,761 39,647 EXPENDITURE ON. Brokers, charges Charitable actvities 13.273) (11,2181 {6.7991 (23.3621 110.072) 134,580} 13,374) (7,6771 (7.004 127,543} 110,3811 135,220) TOTAL EXPENDITURE {14.4911 130.161) 144,6521 (11,0511 134,5501 145,601} Nel gainslllossesl on investments 39.315 81.488 120.803 {42.7931 {88,874) 1131,6671 NET INCOMEIIEXPENDITUR AND NET MOVEMENT IN FUNDS Total funds brought forward 79.655 118,119 (40.9581 I,663) {137,6211 286,486 1.174,685 1,461.171 327.444 1,271.348 1,598,792 Total lunds carried loThvard 324.950 1,254.340 1,579,290 286,486 1,174.685 1,461,171 l ti"lles derive frc¥n c(¥rtinuing tiViti.e$. The urnaudited financial statements have been subjected to an independent examination. See report on page 6
THE FRED TOWLER CHARITY TRUST UNAUDITED BALANCE SHEET AS AT 5 APRIL 2024 Total 2024 Total 2023 As restated FIXED ASSETS Inve5tmerts 1,513,258 1,401.142 CURRENT ASSETS Cash al bank 75,052 62.394 CREDITORS.. AMOUNTS FALLING DUEIMTHIN ONE YR 19,020) {2,3651 NET CURRENT ASSEts 66,032 60.029 NET ASSErs 1.579,290 1,461,171 FUNDS Restricted Unrestricted 324,950 1,254,340 286,486 1,174,685 1,579,290 1,461,171 These financial statements were arvroved by the Board ofTnJstees on... ......... . signed on ils behalf by.. ..anda Trustee The unaudited finanual ststements have been subjected to an independent examinatKJn. See report on page 6
THE FRED TOWLER CHARrrY TRUST NOTES TO FINANCIAL STATEMENTS AS AT 5 APRIL 2024 ACCOUNTING POLICIES BASIS OF AccouKnNG The financial slalements have been prepar&J in accordance wth the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordan with the Financial Reporting Stsndard applicable in the UK and Republicof Ireland {FRS 1021. the Financial Repong Standard applicable in the UK and Republic of Ireland IFRS 102), the Charities Act 2011 and UK Generally ApIed Practice as rt apleS from 1 January 2019. The financial statements have been prepared to give a knje and fairf view and have departed from the Charities (Accounts and Reportsl Regulations 2008 only to the extent required lo provide a 'true and fairf view. This departure has involved followng Accounb"ng and Reporb"ng by Charities preparing their financial slalemenls in accordance wth the Financial Reporb"ng Standard applicable sn the UK and Republic of Ireland IFRS 1021 issued in October 2019 rather than the AcUntr.ng and Reporting by Chznlies.. Statement of Recommended Prath. effective from 1 Aw"12005 which has since been thdraWn. The Fred TovAer Charity Trust constrtutes a public benefit entity as defined by FRS 102. GOING CONCERN POLICY The trustees have reasonable expectation that the charity has adequate resources to continue in estenCe for the foreseeable future. They ¢onb"nue to believe the g(yng concem basis of accounting is appropriate in prepanng the financial slalements. INCOME All income is recognised in the stalement of financial actiwties vthen the conditions for reIpl have been met, where there is enbtlement: probable assuran of receipt and monetary value of incoming resources can be measured wlh 5Utfi(ient reliability. Dividends and fixed interest irw))e Ilnvestment irOme are recojnised once the investment income has been deClad and nolificab.on has been received of the investment income due. This is nomially upon notification by our investment advis of the dividend yield of the investment portfolio. EXPENDITURE Liabilities are recognised as resources expended as 500n as there is a legal or constructive obligation committing the charity lo the expenditure. Al expenditure is accounted for on an accruals basis and has been elassified under headings that aggregate all costs related to the category. Expenditure OA r8i5ing funds is in relation lo the management ol the inveslmenl porttdio. Grants payable are paYntS made to third parties in the fvrtheranee of the charitable objects of the Trust. In the case of an unconditional gTant offer this is a¢cnJed once the reupient has been notifièd of the grant award. The notification gives the recipient a reasonable expectatson that they wll 1ve the one-year or multi-year grant. Grants awards that 8re subject to the reapienl fulfilling Performan conditions are only accrued when the reeipient has been nottfied ofthe grant and any rem•ning unfulfilled condition attaching to that grant is outside of the control of the Trust. Govemance costs indude those incurred in the govemance of the trust and are primarily associated with statutory requirements. LISTED INVESTMENTS Investments are a form of basic finanaal instJumenl and are inibalty recognise(l at their transaction value and subsequendy measured at theirfair value as * the balan Sheet date using the c105ing quoted market price. The statement of finanual actiwbes includes the gains and 105ses arÈsing on revaluation and disposals throughout the year. The Tnjsl does not acquire opbons, derivab.ves or other complex financial instruments.
THE FRED TOWLER CHARITY TRUST NOTES TO FINANCIAL STATEMENTS AS AT 5 APRIL 2024 1. ACCOUNTING POLICIES Ic0NUED) FUND ACCOUNTING The restricted fund is used for the provision of grants lo other charities who provide holidays to deserving people. In prior years, the restricted lund was used for the provision of holidays for the elderty. The general fijnd is free for use in accordance wth the tharty's rk4ecbves. 2. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS In the application of the Irusys accounting poliaes, the trustees are required to make judgments, estimates and assumptions about the Garrying amount of as5els and liabilib.es that are not adIlY apparent from other sources. The ests'matès and asso¢Faled assumptions are based on historFcal experien and other factors that are considered to be relevant. Actual results may drffer from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Rewsions lo accounting estimates are recognised in the period in which the esbmale is revised where the revision affects only that period, or in the period of the revision and future periods where revision affects both rrent and future periods. The Trustees do not consider that there are any crthcal eslimates or area5 of judgement that need to be brought to the attention of the readers of the finanaal statements. INVESTMENT INCOME Totsl Funds 2024 Resth"cted un5t"GIed Funds FWKIS Total Funds 2023 Restricted Unrestricted Funds Funds Dividends [1Ved Fixed interest 13,565 75 28.173 155 41,738 230 12.833 53 26,652 109 39,485 162 13,640 28,328 41. 12,886 26.761 39,647 4. CHARITABLE ACMVITIES Total Funds 2023 Resln"cted Unrestricted Furx15 Funds Funds 224 Restricted Unrestricted Funds {al Prowsion of Charrtable Services General grants Inote 15) Holiday grants Inole 16) 18.925 18.925 9.000 23,350 9.000 23,350 5.580 5,580 0,000 18,925 27.925 5,580 23,350 28.930 Ibl Govemance costs Accountancy 2.218 4.437 6.655 2.097 4,193 6.290 2.218 4.437 6.655 2.097 4.193 6.290 Total 11.218 23.362 34,580 7,67T 27,543 35.220 Accountsncy Indudes independent examinUs fees of£1.000 (2023- £1,CKJO}. 10
THE FRED TOWLER CHARITY TRUST NOTES TO FINANCIAL STATEMENTS AS AT S APRIL 2024 S. INVESTMENTS 2024 2023 UK quoted investments at market vd As reslaled Market valLÈ at 6 April Acquisitions at cosl Disposals at openTng L)k vah Unrealised gains]Ilossesl on investhients 1.401,142 197,161 1192,6341 140,428 1.543,026 245.305 (265,7871 {139,59SI 13 14 Cash awaiting investment 1,5C6,147 7,111 1,382,948 18.194 Market value at 5 April 1.513,258 1,401,142 Inveslmerts comprise". Equities Fixed nterest secuiibe5 Cash awaiting investh)ent 1.174,371 331,776 7,111 1.110.718 272.230 18.194 12 Market value al 5 April 1,513,258 1,401,142 HistorTcal Cost at 5 April 1.377,298 1.357.076 All investments are carried at their fair value. Investments in equibes and fixed interest securities are all traded in quoled public markets, primarily the London St(tk Exchange. Holdings in common investment fvnds are al the bid price. The basis of fair value for quoted investments is equivalent to the market value, using the bid price. Asset salés and purchases are reGogr7ised at the date of trade at cost. The followng investment represents more than 5% of the net assets of the trust al 5 April 2024.. maet Value Blackrock Collective Investment Funds 182,180 11.54 6. CREDITORS. AMOUNTS FALLING DUE IMTHIN ONE YEAR 2024 2023 As iestated Accruals 9,020 2,365 Total 9,020 2.365
THE FRED TOWLER CHARrrY TRUST NOTES TO FINANCIAL STATEMENTS AS AT 5 APRIL 2024 FINANCIAL INSTRUMENTS 224 2023 Carrying amount of financial assets Instruments measured al fair value throwh profft or loss 1,513.258 1,401,142 Total 1.513,258 1,401,142 FUNDS Restricted funds, total donats.ons and other income given for specffic purp)ses. Balance Income at c6rt)4123 Expendre GaingJlts)ssesl on Investments BalarKe at 05104124 Holiday Fund- strided General Fund- unrestri¢Xed 286,486 1.174,685 13,640 28,328 114.4911 130.161) 39.315 81.488 324,950 1,254,340 Total 1.461,171 41,968 144,6521 120,803 1,579,290 Balan Income ExFendtiure Gains1{lossesl on Investments Balan al 05104123 Holiday Fund- restiitxed General Fund- unrestt 327,444 1,271.348 12.886 26.761 111,051) 134,5501 (42.7931 188.874) 286.486 1,174,685 Total 1,598.792 39,647 {45.6011 1131,667) 1,481,171 The holiday fund is a res1ric fund used to make donations lo other chariti.es whid) provide holidays to deserving people. 12
THE FRED TOWLER CHARrrY TRUST NOTES TO FINANCIAL STATEMENTS AS AT S APRIL 2024 ANALYSIS OF NEf ASSETS BEfwEEN FUNDS Resthcted Fimd Unrestrict&J FurNJ Total 2024 Total 2023 Investmerrts Equrty Fixed Interest UrFinvested Ca 381.670 107.827 5.310 792.701 223,949 1,801 12 1.174,371 331,776 7.111 1,110,718 272.230 18,194 Cash al bank Credrtors 1166.927) 12.930) 241,979 16.0901 75,052 19,0201 62,394 12,365} Nel assets as at 5 April 324,950 1,254.340 1,579.290 1,461.171 Restn"cted Fd Unrestrict&J Fu1 Total 2023 Total 2022 restat As restated restated As restated Investments Equty Fixed Interest Un-invested Cash 360,983 88.475 5.913 (168.1151 (noi 749,735 1.110,718 183,755 272,230 12,281 18.194 230,509 62,394 11,5951 {2,3651 1.279,287 233,872 29,888 53,140 (2,3751 12 Cash at bank Creditors Net assets as at S April 286.486 1,174,685 1,461,171 1,598.792 The cash at bank repSentS a single current account held by the charity. The split is based on the cumulative income and expendrture received or paid out via the bank relab.ng to the drfferent funds. 13
THE FRED TOWLER CHARITYTRUST NOTES TO FINANCIAL STATEMENTS AS AT 5 APRIL 2024 RELATED PARTIES None of the trustees receiv&J any remuneration any other benefits from the charity during the year12023.' non8). SCHEDULE OF EQUITY INVESTMENTS Holdtngs Book o)st Mathet value BP tsrd USDO 25 31 Group ord G8PO.738636 Abrdn European Logislics Income Pic ord GBPO.01 Advanced Micro Dev"[ Alphabet Inc Capftal Stod( USDO.ThJ1 CI A Allianz Se IRegdl (Vinkuliertl Amazon Com Inc Com US Aptiv Pic Com USDO 01 Aquila European Renewables Pic ord EURO.01 {GBP) ASML Holding NV EURO.09 Assura Pic ord GBPO.10 Astrazeneca Baillie Gthid Inv Funds Bank ofAmerica CorpcKatK)n Blackrock Collective Investment Fds Blackiock Continental Eurpn Inc Fd Blackn BT Group ord GBPO.05 Canadian Pac Kans Cty Ltd Com USDO.01 Chevron Corporation Com UStKJ.75 Compass Group Pic ottl GBPO.1105 CRH ord EUR 0.32 {DII CT Property Growth & Income Fd ICVC CT ProFerty Diageo ord GBPO.281011108 Experian ord USDO.10 Equinix Inc Com USDO.¢XJ1 Fidelty Investment Fur*Ys Fran1n Templeton Funds GSK Pic ord Haleon Pic ord Halma ord GBPO.10 Harboutvesl Global Ptivate Equity HSBC Holdings PIC Ord USt)o.so IMI ord GBPO.28571428 Intermediate Capital Group P Intemational Public Partner ord GBPO.LXK)1 Intuf( Inc Com USDO.01 Janus HerKI Investment Fds Series l Janus HetThJe JD Sports Fashion Pic ¢xd JPMorgan Chase & Co. Com USD11XI JPMorgan Fund ICVC JPM Legal & General Group Linde Pic Com EURO.001 London Stock Exd)ange Group LVMH Moet Henne55y Vuitton SE EURO.30 Londonrrelric Prop8ty ord GBPO.10 M& G Investment M& G Pi¢ Ord GBPO.05 Marsh & McLennan Compantes Inc Com USD1 C 15,038 7,020 8.175 6.185 8.523 9.241 14,871 14.888 11,437 12,350 11.430 3.470 7,839 13,730 10,157 27.763 18.785 5,11 182,180 19,433 4,386 7.333 10,620 6.969 8,876 15.417 9,362 8,117 6.537 18.110 3.512 8,543 4,080 3,078 5.130 12,380 5,975 10,739 10,597 13.177 8,078 16,116 5.781 110.745 12.441 12.2C(J 18 24,(YX) 13.CKX) 170 150.CKKJ 10,LKXJ 105 6,023 4,950 1.678 18,222 10,735 5.975 6,335 17,865 5,367 7,517 3,269 2.485 5.023 12,1( 6.455 7,158 11.599 10 13,2 475 1.225 130 225 325 7.583 15 6,676 9.403 7.723 7,515 3.750 6,172 9.720 36,498 13.486 40.426 20,352 9.194 9.49CI 9.978 6,425 29,643 5,733 8.973 25 5,841 7.979 10.150 8,335 24.844 6,19) 6.071 14 3.162 19, 14
THE FRED TOWLER CHARrf TRUST NOTES TO FINANCIAL STATEMENTS AS AT 5 APRIL 2024 11. SCHEDULE OF EQUITY INVESTMENTS (COnNUED) HcAdings Book ¢Tht Market value Mayfair Capttsl Investrnent Ltd Markel Group Inc Com NPV Marriott Intemational Inc Com USTh).01 Class A Medtronic P Merck & Co Inc Microsoft Corp Com National Grid otd Nalwest Group Novo Nordisk AIS SerfB' DKKO.1 NB Priv81e Equity Partners Mited Pactfic Capital UCITS Funds P Palo Alto Nets¥oths Inc Persimmon Prudential Reix P Rio Tinto Roche Hoklings Ag Genusstheine Rockwell Automation Ir S& P Global Inc Schro¢Jer In¥estment Fund Company Segro Pic Shell Pic Sika AG CHFO.01 IRegl Smith IDS) Standaid Chartered Supermarket Ino)me T- Mobilè US Inc The Renewables InftastrtKtUTe Thermo Fisher Scientific Inc Unilever United Rentals Urban Logistits REtT Vanguard Funds Veritas Funds VH Gbl Sustainable Energy Ci)ps Visa rtbread Zoetis Inc Royal London Fund 32.101 23.8 7,732 6,497 6.1 6.303 22,704 15,970 6.174 10.285 7,624 37,452 5.575 5,319 8.004 6,388 22,980 4.349 10,083 5,945 16.313 7.793 23.618 6.441 4.305 7,475 8.999 7,994 4,487 12,542 29,9g2 20,275 6.372 16.157 7,245 39,885 10.127 3.29) 4,458 11,642 22,075 3,229 10,384 6.740 12.929 5,423 27.038 7.080 9,918 120 160 45 16 45 29.6CM) 1.OX) 8,4 6.588 9,050 13. 7,366 6,758 14,279 10,159 21.474 11,089 5.660 8,842 8,816 4.691 27,786 13.2(KJ 16 170 25 8,880 16,476 6,529 7.248 6.408 15.lJ96 23,620 11,372 8,251 6,492 8.587 5,091 27.518 14 8.251 28.CfKI Total 993,980 1,174,371 AlloeAted to.. Holiday fijrvj General fund 323,044 670.936 381,670 792.701 993,980 1,174,371 15
THE FRED TOWLER CHARITY TRUST NOTES TO FINANCIAL STATEMENTS AS AT 5 APRIL 2024 12. SCHEDULEOF FIXED IMfEREST INVESTMENTS HoJdirKJ Market Value Cost NB Global Monthly Inc Fd Ltd Red Ord Shs NPV Hermes Fund Managers Irefand Wellington Mgmnl Fds Ilreland) PIC Wellingt¢)n Gbl United Kingdom (Government ofj IdxlLkd Snr Bds Royal London Bond Funds ICVC Vanguard Investments United Kingdom Treasury 0.875DA Stock 2042 1.10 Slock 2024 1.5% 2047 2.75% 2024 4.125% 4.25°A 2047 4.5% 2042 227 26,001 2,250 237 24.630 22,128 22,696 21,931 21.000 37,743 29,144 58.tsjo 550 73,424 55.670 70,296 51,407 20,000 25.C 15,000 24,000 20,000 20.000 20.0 18.470 24.533 16,229 23,719 20,121 26,606 32.329 17,210 25,055 8,761 23,828 20,148 20,473 20.691 TOTAL 375,839 331,776 Allocated to.. Holiday furKJ General fund 122,146 253,691 107,827 223,949 375.839 331,776 16
THE FRED TOWLER CHARITYTRUST NOTES TO FINANCIAL STATEMEKrs AS AT 5 APRIL 2024 13. CHANGES ON INVESTMENTS-ACQUISITIONS Shares acqutred Cost HSBC Holdings PIC Ord USDO.50 BT GroL4) ord GBPO.05 Alphabet Inc Capital Stock USDO.001 CI A Canadian Pac Kans City Ltd Com USDO.01 Equinrx Inc Com USDO.(KJ1 mae1 Group Inc Gom NPV Marr¥ott International Inc Com USDO.01 CIASS A Microsoft Corp Com USDO.OCKMX625 Allianz Se l Regdl I Vinkulierti ASML HoldirKJ NV EURO.09 CRH ord EVR 0.32 IDI) LVMH Moet Hennessy Vurtton SE EURO.30 Novo Nordisk WS SerfB'DKKO.1 Sika AG CHFQ.01 (Regl M&G Invéstrnenl Royal London Bond Fund5 ICVC Royal Lotwjon Shrt Tem) Money Mkt Y Dis 4.125°/o Sto Royal London Bond Fund5 ICVC Royal London Vanguard Investment Series Pie UK Inv Glade Bd Idx Federated Hetrnes Inveslmént Fds Pic Fed Hms NB Global Monthly In¢ Fd Ltd Re(1 Ord Shs NPV Wellington Mgmnt Fds (Iland) PIC Wellington Gbl 12.1C 8,523 105 10 6.335 7.732 6.497 1Ct.538 5.072 5,399 6,356 5.244 fO,285 6,441 16,889 9.761 35 27 10 130 180 13.2C 20.121 9.140 8,548 6,789 237 22,128 8.1 227 Total 197,161 17
THE FRED TOWLER CHARrrY TRUST NOTES TO FINANCIAL STATEMENTS AS AT 5 APRIL 2024 14. CHANGES ON INVESTMENTS- DISPOSALS Shares diswsed Market Value Sale prrwds Gainl (loss} EQUITY Barclays Pic OTd GBPO.25 NB Global Monthly Inc Halma ord GBPO.10 Vodafone Group ord Blackrock Collective Investment Fds BNY Mellon Investrnenl Netnix Inc Com USDO.001 Palo Alto Networks Inc Com USDO 0001 Union Pacific Corp Com Stk USD2.50 Walt Disney Company l The) Com Disney USDQ.01 Blackrock Conbnental Eurpn Inc Fd 10,( 8la¢krock ES AllianceBemstein UK OEIC ES AllianceBemstein Janus Hend Investment Fds Series l Janus Henderson 8aillie Gifford Inv Funds Legal & General ucrts ETF Pic Robo Global 31 Infrastructure ord NPV HG Capital Trust Pic ord GBPO 025 Hipgnosis Songs Fund Ltd ord NPV FIXED INTEREST AXA Fixed Interest Invesbment ICVC AXA US Short 4,000 3,109 160 8,018 6.204 7,310 3,245 3,059 16.354 2,386 5,832 2,254 6.180 2.254 3.953 6,727 5,923 348 387 14331 58 7.160 5.865 30,319 7,827 3,717 39.021 5,043 4.860 40.(1 5,659 4,605 18 1.040 616 1255) 6.445 5.713 7.024 1,311 4.(AO 3.343 (7171 12.441 18,217 18.461 244 20,CKK) 20.540 24,020 24,300 280 5,649 6500 6,795 295 10.2C4] 12.644 10.0( 13,841 13,097 8.478 (744) 13301 4,693 12,979 7.825 11.148 8,438 13,028 613 1,880 3,250 8,473 5,508 4,516 19921 11.9)2 12,352 9.733 9.792 59 186.873 188,974 192,634 18
THE FRED TOWLER CHARITY TRUST NOTES TO FINANCIAL STATEMEKrs AS AT S APRIL 2024 15. GENERAL GRANTS PAID 2024 2023 Aire Valley District SC( CourKil 8radford Court chaaincY Bradford Nightstop Bradford Sea Cadets Bradford Tradesmen's Homes Bradford South Scout Group The Lishl Church of Bradford Carers, Resource Childrens charity cirde Clayton CommunityAsscxi"ation Epilepsy Acts"on Haworth Riding for the Disabled Lifeliles Listening books Make Them Smile One in a Million Poli Community Clubs Bradrd Rotary Cluts of Bradford Blaze The Engineering Development Trusl izz )Qds soo 2,IX)O 2,000 1,000 4,000 500 4.000 3.350 2,000 3,000 800 500 1,500 800 900 1,500 1,100 750 1,290 1,500 1,975 1,235 1,000 750 2,000 1,525 18,925 23,350 16. GRANTS RELATING TO HOLIDAYS 2024 2023 Carerfs Resource Emerge A brt of a break Dream Holidays Fulfil the Wsh Happy Days Nell Bank 1.000 1.000 3.300 1.580 500 2,2(K) 1,000 4,000 9,000 5.580 19