THE FRED TOWLER CHARITY TRUST
uNAUD￿ED 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 de￿1. 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 I￿land.
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 Obl￿tIveS we..
Capital growth and income ￿1h slightty m¢)re eMpha￿S on Inc￿le.
Meolium risk.
No UK tax is payable by the trust.
The investment suWJmmittee of Messrs P G Me￿d1th, R J R Allan and Mrs J Lister deal with the review of
investment recommendab.on advice from st￿kbr0ker and other financial institutions.
Guidelines for the performan￿ ofthe funds have been set and will be re￿rted 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. a￿Ul$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 b8￿nce 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. The￿fore. 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 ￿nsisten￿Y
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 con￿mIng 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 Ac￿rIEs
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
Y￿R
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 Repo￿ng Standard applicable
in the UK and Republic of Ireland IFRS 102), the Charities Act 2011 and UK Generally A￿pIed Practice as
rt ap￿leS 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 Ac￿Untr.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 e￿stenCe
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 re￿Ipl 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 ir￿Ome￿ are recojnised once the investment income has
been deCla￿d 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 paY￿￿ntS 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 Ic0￿￿NUED)
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 un￿5t￿"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
2￿24
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..
ma￿et
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
2￿24
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
Expend￿re
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- unrest￿t￿
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
F￿d
Unrestrict&J
Fu￿1
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 rep￿SentS 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
Fran￿1n 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 CHAR￿rf TRUST
NOTES TO FINANCIAL STATEMENTS
AS AT 5 APRIL 2024
11. SCHEDULE OF EQUITY INVESTMENTS (CO￿nNUED)
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
ma￿e1 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 (I￿land) 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 cha￿aincY
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 Bradr￿d
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