OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-01-31-accounts

Charity Registration No. 243516

THE HORNBY LONSDALE CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

THE HORNBY LONSDALE CHARITABLE TRUST

CONTENTS

Page
Legal and administrative information 1
Trustees' report 2 - 4
Independent examiner's report 5
Statement of financial activities 6
Statement of financial position 7
Statement of cash flows 8
Notes to the accounts 9 - 14
Investment schedule 15 - 26

THE HORNBY LONSDALE CHARITABLE TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mrs J M B Shipp Mr C J L Smith-Maxwell Miss R J Smith-Maxwell Rathbones Trust Company Limited Secretary Rathbones Trust Company Limited Charity number 243516 Registered office / address for appeals 8 Finsbury Circus London EC2M 7AZ Independent examiner Perrys Audit Limited Churchdown Chambers Bordyke Tonbridge Kent TN9 1NR

Bankers and investment managers Rathbones Investment Management Limited 8 Finsbury Circus London EC2M 7AZ

THE HORNBY LONSDALE CHARITABLE TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 JANUARY 2023

The Trustees present their annual report and financial statements for the year ended 31 January 2023.

The accounts have been prepared in accordance with the accounting policies set out in note 1 of the accounts and comply with the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). The Financial Statements also comply with the Charity's governing document.

Objectives and activities

The Mrs E G Hornby Charitable Settlement was created by Deed dated 31 March 1965. The Charity received the entire trust fund of the Lonsdale Charitable Trust by way of donation during the year ended 31 January 2008. On 27 January 2020, the name of the Charity was formally changed to The Hornby Lonsdale Charitable Trust to reflect this. Approval from the Charity Commission was received on 28 January 2020. The Trustees shall hold the capital and the income of the Trust Fund upon trust to apply income and, as far as may be necessary, the capital for or towards such charitable purposes and to make donations to such charitable bodies or institutions at such times and in such manner as the Trustees may, in their absolute discretion, think fit.

Public Benefit

The Trustees support a number of charitable organisations, as shown within note 16 to the financial statements. The Trustees believe all the donations made are for the benefit of the public.

Grant making

The Trustees meet annually to review applications for funding, investment performance, income levels and the financial statements. In between Trustees' Meetings the applications are considered and a full presentation is made at the Annual Meeting.

The Trustees made charitable donations during the year of £48,700 (£59,200 in 2022).

Achievements and performance

Total incoming resources were £54,375 (£50,689 in 2022), with £73,097 (£84,157 in 2022) being committed to charitable activities of which £24,397 (£24,957 in 2022) relates to support and governance costs. There was an unrealised gain of £510 (gain of £122,029 in 2022) on investments and in addition a realised (loss) of £51,743 (gain of £2,126 in 2022) resulting in a net outflow of funds of £69,955 (inflow of £90,687 in 2022).

Financial review

The value of the portfolio on 31 January 2023 was £2,164,910. Between 31 January 2022 and 31 January 2023, the value of the portfolio fell by -2.10% in capital terms (before cost of fees); over the same periods the MSCI PIMFA Balanced index fell -4.26% and the FTSE 100 index rose 4.12%. In total return terms (before cost of fees), the portfolio appreciated 0.26% over the period, whilst the MSCI PIMFA Balanced index fell -2.03% and the FTSE 100 rose 8.04%. After lagging for many years, the FTSE 100 has been one of the strongest performing equity indexes thanks to its high allocation of energy, material and financial businesses that continue to benefit from rising interest rates and high commodity prices.

The portfolio is managed in line with risk level 4 (on a scale from 1-6 where 6 is highest). This is appropriate for an investor with a medium risk tolerance. It aims to generate a return over the long term of 3% above the rate of inflation. The portfolio is likely to include a substantial exposure to shares and is expected to experience fluctuations in the value of the investments reflecting 60-80% of the volatility of global equity markets. This approach can be suitable for investors with a 6-10 year time horizon and the capacity to tolerate a temporary or, sometimes, permanent capital loss. This risk profile has not changed during the year under review.

The Trustees reviewed the risk level of the portfolio with their investment manager in March 2021.

Reserves

The Trustees have a balanced investment policy and predominantly use income to fund their donations although they have discretion to resort to the use of the capital. In general however, the Trustees retain the capital for the maintenance and growth of the fund.

THE HORNBY LONSDALE CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

Investment Policy

The current investment objective is a 'balance between capital growth and income'. This strategy seeks to balance the long term capital growth of the portfolio with the need to generate an income return on the portfolio. This objective has not changed during the year under review.

Risks

The Trustees have not identified any major risks and believe that appropriate action has been taken to mitigate these risks. The Trustees will continue to keep the adequacy of the systems in place under review.

Structure, governance and management

The Trustees who served during the year were:

Mrs J M B Shipp Mr C J L Smith-Maxwell Miss R J Smith-Maxwell Rathbones Trust Company Limited

The Charity's other advisors are noted on page 1.

The individuals who were directors of Rathbone Trust Company Limited were:

Mr Stephen Bilbao Miss Linda Joyce Cousins Mr James Stephen Hurrell Mr Bruce Robert Newbigging Mr Alexander Richmond Mr Timothy Francis Smith Mr Robert Paul Stockton Mr Trevor Harris Mrs Kerry Roberts

Decision making

The Trustees meet annually to review applications for funding. Only successful applicants are notified of the Trustees' decision. Certain charities are supported annually, although no commitment is given.

Appointment of new Trustees

The continuing Trustees have the power to appoint new or additional Trutees to act jointly with them as they see fit.

Trustee training

The Trustees correspond and meet with their professional advisors regularly and the advisors are specifically instructed to appraise the Trustees of relevant technical and practice issues as they arise.

Plans for the future

The Trustees do not envisage any significant changes to their aims & objectives and they intend to continue supporting the various causes to a similar level.

THE HORNBY LONSDALE CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of the affairs of the Charity and of the incoming resources and applications of resources, including the income and expenditure, of the Charity for the period.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees' report was approved by the board of Trustees

Rathbones Trust Company Limited

Trustee Dated: 31 July 2023

THE HORNBY LONSDALE CHARITABLE TRUST

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE HORNBY LONSDALE CHARITABLE TRUST

I report to the trustees on my examination of the financial statements of The Hornby Lonsdale Charitable Trust (‘the charity’) for the year ended 31 January 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and related notes.

This report is made solely to the Charity’s Trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the Charity’s Trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

...................................................

Stephen Hale

Perrys Audit Limited Churchdown Chambers Bordyke Tonbridge Kent TN9 1NR

Dated: 8 August 2023

THE HORNBY LONSDALE CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 JANUARY 2023

Notes
Income
Investment income
3
Other income
4
Total income
Expenditure
Charitable activities
5
Total resources expended
Net (expenditure) before investment gains
Net (losses) / gains on investments
9
Net movement in funds
Fund balances at 1 February 2022
Fund balances at 31 January 2023		 2023
£
53,672
703
54,375
73,097
73,097
(18,722)
(51,233)
(69,955)
2,270,087
2,200,132		 2022
£
50,689
-
50,689
84,157
84,157
(33,468)
124,155
90,687
2,179,400
2,270,087

THE HORNBY LONSDALE CHARITABLE TRUST

STATEMENT OF FINANCIAL POSITION

AS AT 31 JANUARY 2023

Notes
Fixed assets
Investments
10
Current assets
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within
one year
12
Net current assets
Total assets less current liabilities
Income funds
Unrestricted funds		 2023
£
£
2,162,822
2,038
46,672
48,710
(11,400)
37,310
2,200,132
2,200,132
2,200,132		 2022
£
£
2,235,715
423
46,747
47,170
(12,798)
34,372
2,270,087
2,270,087
2,270,087		 2022
£
£
2,235,715
423
46,747
47,170
(12,798)
34,372
2,270,087
2,270,087
2,270,087
2,270,087
2,270,087
2,270,087

The financial statements were approved by the board of Trustees and authorised for issue on 31 July 2023 and are signed on its behalf by:

Rathbones Trust Company Limited

Trustee Dated: 31 July 2023

THE HORNBY LONSDALE CHARITABLE TRUST

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 JANUARY 2023

2023
Notes
£
Cash flows from operating activities
Cash absorbed by operations
14
Investing activities
Purchase of investments
(571,248)
Proceeds on disposal of other investments
533,604
Dividends and interest received from investments
54,375
Net cash generated from investing
activities
Net (decrease)/increase in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
15		 2022
£
£
(76,110)
(296,035)
366,015
50,490
16,731
(59,379)
166,517
107,138		 £
(82,519)
120,470
37,951
128,566
166,517

THE HORNBY LONSDALE CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

1 Accounting policies

1.1 Accounting convention

The financial statements have been prepared in accordance with ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Second Edition)’ and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.

1.2 Going concern

The trustees consider there are no material uncertainties about the Charity’s ability to continue as a going concern. The review of our financial position, reserves levels and future plans gives Trustees confidence the charity remains a going concern for the foreseeable future.

1.3 Charitable funds

Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds where the Trustees, at their discretion, have created a fund for a specific purpose.

1.4 Incoming resources

Investment income is accounted for on an accruals basis in the period to which it relates.

1.5 Debtors

Debtors are receivable at their expected settlement amount.

1.6 Cash and cash equivalents

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.7 Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any discounts due.

1.8 Resources expended

Grants are included in the financial statements when approved by the Trustees and notified to recipients. The value of committed grants unpaid at the year end is accrued. Grants offered that are subject to conditions that have not been met at the year end are noted as a commitment but not accrued as expenditure.

Management and administration costs comprise those costs incurred in running the charity. They have been apportioned on the basis of time spent between charitable activities, cost of raising funds and governance costs.

Governance costs consist of those costs associated with the overall running of the charity and meeting statutory and regulatory requirements.

THE HORNBY LONSDALE CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

1 Accounting policies

(Continued)

1.9 Financial instruments

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in net income/(expenditure), except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

1.10 Investments

Fixed assets investments represent listed investments which are stated at market valuation, where market value represents the mid market value on the last trading day before the year end. Any unrealised or realised gains arising from investments are accounted for in the Statement of Financial Activities.

2 Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Investment income

Income from listed investments
Foreign income
Fixed interest
REITS
Accrued interest		 2023
£
30,384
18,740
1,026
1,053
2,469
53,672		 2022
£
36,051
12,083
1,616
973
(34)
50,689

4 Other income

2023 2022
£ £
Bank interest 703 -

THE HORNBY LONSDALE CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

5 Charitable activities

Grant funding of activities (see note 6)
Share of support costs (see note 7)
Share of governance costs (see note 7)
Grants payable
Animal
Cancer & Hospices
Military & Disabled
Religious & Community
Health & Disability
Other		 2023
£
48,700
12,835
11,562
73,097
2023
£
3,500
14,000
3,000
16,200
10,000
2,000
48,700		 2022
£
59,200
13,719
11,238
84,157
2022
£
2,500
15,000
3,000
15,200
21,500
2,000
59,200

6 Grants payable

All of the above grants were payable to institutions.

7 Support costs

Support
costs
Governance
costs
£
£
Investment management fees
12,835
-
Management and administration fees
-
9,600
Independent examiner's fee
-
1,962
12,835
11,562		 2023
£
12,835
9,600
1,962
24,397		 2022 Basis of
allocation
£
13,719
9,600 Governance
1,638 Governance
24,957

8 Employees

There were no employees during the year, or the previous year.

THE HORNBY LONSDALE CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2023

9 Net (loss) / gain on investments

Unrealised gain
Realised (loss) / gain on sale of investments		 2023
£
510
(51,743)
(51,233)		 2022
£
122,029
2,126
124,155

10 Fixed asset investments

Listed
investments
£
Cost or valuation
At 31 January 2022
2,115,945
Additions
663,093
Unrealised gain
510
Realised (loss)
(51,743)
Cash invested
-
Disposals
(625,449)
At 31 January 2023
2,102,356		 Cash in
portfolio
£
119,770
-
-
-
(59,304)
-
60,466		 Total
£
2,235,715
663,093
510
(51,743
(59,304
(625,449
2,162,822

No Investment represented more than 5% of the portfolio's total market value (excluding cash).

Listed investments
Cash in investment portfolio
Historic cost of investments		 2023
£
2,102,356
60,466
2,162,822
1,651,949		 2022
£
2,115,945
119,770
2,235,715
1,453,546

11 Debtors: amounts falling due within one year

Dividends due
Prepayments and accrued income		 2023
£
-
2,038
2,038		 2022
£
369
54
423

THE HORNBY LONSDALE CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

12 Creditors: amounts falling due within one year

Management and administration fee
Independent examiner's fee		 2023
£
9,600
1,800
11,400		 2022
£
9,600
3,198
12,798

13 Related party transactions

Rathbones Trust Company Limited, who are also trustees received fees of £9,600 (2022 £9,600) for their services during the year which are also detailed in note 7 of these accounts.

Rathbones Investment Management (RIM) and Rathbones Trust Company (RTC) are both wholly owned subsidiaries of Rathbones Group Plc. The investment management is undertaken by RIM at their standard terms as offered to other charities, RTC are not obliged to appoint or retain RIM as investment managers but do so on the basis that the terms and performance have been satisfactory when compared to alternative providers of investment management. The matter is monitored and kept under review to ensure that the charity receives appropriate and cost effective investment management services. Details of fees are shown in note 7.

14 Cash generated from operations

(Deficit)/surplus for the year
Adjustments for:
Investment income recognised in profit or loss
Realised loss / (gain) on disposal of investments
Unrealised (gain)
Movements in working capital:
Increase in creditors
Cash absorbed by operations
Cash and cash equivalents
Cash at bank and in hand
Cash invested		 2023
2022
£
£
(69,955)
90,687
(55,990)
(50,769)
51,743
(2,126)
(510)
(122,029)
(1,398)
1,638
(76,110)
(82,599)
2023
2022
£
£
46,672
46,747
60,466
119,770
107,138
166,517		 2023
2022
£
£
(69,955)
90,687
(55,990)
(50,769)
51,743
(2,126)
(510)
(122,029)
(1,398)
1,638
(76,110)
(82,599)
2023
2022
£
£
46,672
46,747
60,466
119,770
107,138
166,517
(82,599)
2022
£
46,747
119,770
166,517

15 Cash and cash equivalents

THE HORNBY LONSDALE CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

16 Donations made during the year

Donations made during the year
All Saint's Church, Fulham
Combat Stress
Crohn’s in Childhood Research Association
Crosslight
Dash Charity
Dionis Church
Dorothy House Hospice
Glass Door
Grow for Life
Friends of the Elderly
Halow Project
Helen & Douglas House
Hilda's House
Hook Church
Hunt Staff Benefit Society
Jamie's Farm
Macmillan Cancer Support
Motor Neurone Disease Association
North Kilworth PCC
PCC of Kingston Lisle
PDSA
Queen Elizabeth Foundation
Queen Mother's Clothing Guild
Rainbow Trust
Royal Marsden Cancer Charity – The Oak Centre
SHOUT
St Andrew's Church North Kilworth
St Michael's Hospice
St Richard's Hospice
Survivors Trust
The Cure Parkinson's Trust
The Irish Draught Horse Society
The Macular Society		 2023
£
2,000
1,000
1,000
500
1,000
2,000
1,000
1,000
2,000
3,000
500
1,500
3,000
1,000
2,000
1,000
1,500
-
1,200
1,000
2,000
1,000
1,000
1,000
3,000
2,000
-
2,000
2,000
1,000
2,500
1,500
2,500
48,700		 2022
£
2,000
1,000
1,000
500
-
2,000
500
1,000
1,000
3,000
500
1,000
3,000
1,000
2,000
1,000
1,500
10,000
-
1,000
1,000
1,000
1,000
1,000
5,000
2,000
1,200
2,000
2,000
1,000
5,000
1,500
2,500
59,200

THE HORNBY LONSDALE CHARITABLE TRUST

INVESTMENT SCHEDULE

FOR THE YEAR ENDED 31 JANUARY 2023

Holding Market Value Additions Disposals Disposals Realised Unrealised Holding Market Value Net Income
1 February 1 February Quantity Cost Quantity Proceeds Profit/(loss) Profit/(loss) 31 January 31 January
2022 2022 2023 2023
£ £ £ £ £ £ £ £
Aberforth Smaller Companies Trust
Ordinary 1p
2,900 41,702 703
(1,682) 2,900 40,020 349
Artemis Fund Managers
Corporate Bond F GBP Dis
28,000 29,742 231
210
228
(3,831) 28,000 25,911 258
Associated British Foods
Ordinary 5 15/22p
1,500 29,115 207
(1,275) 1,500 27,840 449
AstraZeneca
Ordinary US $0.25 Stock
490 42,223 712
9,668 490 51,891 374
Aviva PLC
6.125% Sb Bds 14/11/26 GBP
40,000 40,547 333 40,000 40,880
Barings Umbrella Fd Plc
Emg Mkts Debt Bld Tot Rtn Tr A GBP Dis
480 47,189 480 40,574 (6,615)

THE HORNBY LONSDALE CHARITABLE TRUST

INVESTMENT SCHEDULE

FOR THE YEAR ENDED 31 JANUARY 2023

Holding Market Value Additions Disposals Disposals Realised Unrealised Holding Market Value Net Income
1 February 1 February Quantity Cost Quantity Proceeds Profit/(loss) Profit/(loss) 31 January 31 January
2022 2022 2023 2023
£ £ £ £ £ £ £ £
BH Macro Ltd
NPV Ordinary Shares
1,246 47,597 7,040 1,246 54,637
BHP
Ordinary NPV
1,100 4,620 3,369
1,236
26,466 1,100 31,086 1,666
BHP Group Plc
Ordinary USD0.50
1,100 26,208 1,100 4,620 (21,588)
Blackrock Fund Managers
Continental European Income D Units
18,000 32,256 (70) 66
900
74
101 18,000 32,287 99
Bunzl plc
Ordinary 32 1/7p shares
1,500 41,505 400 11,541 473 612
2,233 1,100 32,670 190
CG Portfolio Fund
Real Return 'A'
315 65,133 (2,042) 315 63,091 1,079

THE HORNBY LONSDALE CHARITABLE TRUST

INVESTMENT SCHEDULE

FOR THE YEAR ENDED 31 JANUARY 2023

Holding Holding Market Value Additions Disposals Disposals Realised Unrealised Holding Market Value Net Income
1 February 1 February Quantity Cost Quantity Proceeds Profit/(loss) Profit/(loss) 31 January 31 January
2022 2022 2023 2023
£ £ £ £ £ £ £ £
CG Portfolio Fund Plc
Absolute Return M GBP
490 68,291 110 15,275 160 21,410 (874) 871
(118) (1,064) 440 60,100
Compass Group Plc
Ordinary GBP0.1105
1,500 25,609 3,356 1,500 28,965 141
Coupland Cardiff Funds
Japan Alpha T GBP Acc
4,600 45,324 (1,063) 4,600 44,261
Croda International
Ordinary GBP0.10609756
410 32,685 232
(4,452) 410 28,233 193
Diageo
Ordinary 28.935185p
1,350 50,261 350 12,946 (85) 396
(2,030) 1,000 35,200 468
ETFS Hedged Metal Sec Ltd
Daily Hgd Physical Gold (GBP)
7,700 74,729 2,300 25,041 1,800 16,037 (1,921)
1,600 15,130 (834) 1,753 6,600 67,601

THE HORNBY LONSDALE CHARITABLE TRUST

INVESTMENT SCHEDULE

FOR THE YEAR ENDED 31 JANUARY 2023

Holding Market Value Additions Disposals Disposals Realised Unrealised Holding Market Value Net Income
1 February 1 February Quantity Cost Quantity Proceeds Profit/(loss) Profit/(loss) 31 January 31 January
2022 2022 2023 2023
£ £ £ £ £ £ £ £
Fil Investment Services(Uk)limited
Emerging Markets R GBP Acc
34,691 47,110 282 14,691 17,447 (2,503) (4,882) 20,000 22,560 282
Findlay Park Funds Icav
American GBP Hedged Dis
Changed from Findlay Park Funds PLC American GBP Hedged dis on 18/07/2022
1,100 98,835 (9,955) 1,100 88,880
Franklin Templeton Funds Ii
Ftf Clearbridge US Equity Income X Inc
23,000 73,945 23,000 77,168 3,223 328
Goldman Sachs Group Inc
1.5% Snr EMTN 7/12/2027
49,000 41,585 616 49,000 42,201
Hicl Infrastructure Plc
Ordinary GBP0.0001
9,766 17,032 9,300 15,737 139
62
107
95
306
86
267
(1,119) 19,066 31,650 126

THE HORNBY LONSDALE CHARITABLE TRUST

INVESTMENT SCHEDULE

FOR THE YEAR ENDED 31 JANUARY 2023

Holding Market Value Additions Disposals Disposals Realised Unrealised Holding Market Value Net Income
1 February 1 February Quantity Cost Quantity Proceeds Profit/(loss) Profit/(loss) 31 January 31 January
2022 2022 2023 2023
£ £ £ £ £ £ £ £
Highbridge Multi-Strategy
Cash Exit Entitlement
21,422 3,021 343 343
326 326 (3,021) 21,422
Ifsl Church Hse Inv Grd Fxd Int Fd
Ifsl Ch House Investment Grd Fxd Int Dis
Changed from Church House Investment Grade Fixed Int Fd Inc on 03/10/2022
38,000 40,642 126
(179) 805 38,000 41,268
Impax Environmental Markets
Ordinary 10p
16,000 72,320 5,000 20,181 (2,419) 114
1,300 5,886 10
2,100 8,559 (933) (1,672) 7,600 32,680
Ing Groep N.V.
EUR0.01
2,500 24,171 739
415
303
5,056 2,500 29,227 154
Intertek Testing
Ordinary GBP0.01
900 48,096 270 14,044 (385) 451
630 25,580 (8,087)

THE HORNBY LONSDALE CHARITABLE TRUST

INVESTMENT SCHEDULE

FOR THE YEAR ENDED 31 JANUARY 2023

Holding Market Value Additions Disposals Disposals Realised Unrealised Holding Market Value Net Income
1 February 1 February Quantity Cost Quantity Proceeds Profit/(loss) Profit/(loss) 31 January 31 January
2022 2022 2023 2023
£ £ £ £ £ £ £ £
Ishares
Ishares S&P 500 Nav (GBP)
3,500 115,201 700 24,428 1,388 342
394
359
(584) 2,800 91,577 323
Jpmorgan Funds Ltd
US Equity Inc K GBP Net Inc Unhdg
49,000 72,520 (42) 345
372
431
4,354 49,000 76,832 485
Jupiter Unit Trust Managers
Japan Income Z GBP Dis
45,000 50,328 22,000 24,609 574
(135) (419) 67,000 74,383 747
Legal & General Group
Ordinary 2.5p
10,000 28,740 1,327
(3,340) 10,000 25,400 544

THE HORNBY LONSDALE CHARITABLE TRUST

INVESTMENT SCHEDULE

FOR THE YEAR ENDED 31 JANUARY 2023

Holding Market Value Additions Disposals Disposals Realised Unrealised Holding Market Value Net Income
1 February 1 February Quantity Cost Quantity Proceeds Profit/(loss) Profit/(loss) 31 January 31 January
2022 2022 2023 2023
£ £ £ £ £ £ £ £
Link Fund Solutions Ltd
Cf Ruffer Total Return I Inc
12,000 45,229 10,000 38,775 25,500 87,226 (9,122) 575
(213) 1,352
3,500 12,661
(104)
Link Fund Solutions Ltd
Ruffer Total Return J Dis
25,379 87,226 10,047 25,379 97,273
Lloyds Banking Group
Ordinary 10p
110,000 56,155 1,463
1,683 110,000 57,838 880
Marlborough Fd Mgrs Euro Multi Cap P Inc
Units
2,700 21,053 2,700 18,482 (2,571)
Mercantile Investment Tst Plc(The)
Ordinary GBP0.025
23,000 56,120 311
656
311
(7,935) 23,000 48,185 311

THE HORNBY LONSDALE CHARITABLE TRUST

INVESTMENT SCHEDULE

FOR THE YEAR ENDED 31 JANUARY 2023

Holding Market Value Additions Disposals Disposals Realised Unrealised Holding Market Value Net Income
1 February 1 February Quantity Cost Quantity Proceeds Profit/(loss) Profit/(loss) 31 January 31 January
2022 2022 2023 2023
£ £ £ £ £ £ £ £
National Grid
Ordinary GBP0.12431289
3,000 32,388 1,013
(1,638) 3,000 30,750 535
Persimmon
Ordinary 10p
940 22,504 1,175
(9,231) 940 13,273 1,034
Polar Capital Fund
Global Technology Fund I (GBP)
820 50,282 120 7,337 (21) (6,111) 700 36,813
Polar Capital Fund
Global Insurance E Dist (GBP)
5,000 34,571 1,400 10,549 892 106
(83) 122
3,349 3,600 28,180 69
Polar Capital Funds
Healthcare Opps I Sterling Share Inc Nav
800 36,376 200 10,620 1,526 5,046 600 32,328
Prudential
Ordinary 5p
1,750 21,621 165
1,820 1,750 23,441 87

THE HORNBY LONSDALE CHARITABLE TRUST

INVESTMENT SCHEDULE

FOR THE YEAR ENDED 31 JANUARY 2023

Holding Market Value Additions Disposals Disposals Realised Unrealised Holding Market Value Net Income
1 February 1 February Quantity Cost Quantity Proceeds Profit/(loss) Profit/(loss) 31 January 31 January
2022 2022 2023 2023
£ £ £ £ £ £ £ £
Relx Plc
GBP0.1444
1,500 34,050 533
1,980 1,500 36,030 236
Renewables Infrastructure GRP
NPV Ordinary shares
20,000 26,680 338
342
342
(640) 20,000 26,040 342
Rentokil Initial
Ordinary 1p
8,100 41,974 1,900 9,454 (392) 348
(1,705) 6,200 30,423 149
Rio Tinto
Ordinary 10p(Registered)
533 27,636 243
1,635
6,044 533 33,680 1,181
Roche Holdings Ag
Genusscheine No Par Value
180 51,431 70 19,421 (580) (3,688) 110 27,742 535
Schroder GAIA
Blue Trend GBP Hedged C Acc
300 40,514 (3,473) 300 37,041

THE HORNBY LONSDALE CHARITABLE TRUST

INVESTMENT SCHEDULE

FOR THE YEAR ENDED 31 JANUARY 2023

Holding Market Value Additions Disposals Disposals Realised Unrealised Holding Market Value Net Income
1 February 1 February Quantity Cost Quantity Proceeds Profit/(loss) Profit/(loss) 31 January 31 January
2022 2022 2023 2023
£ £ £ £ £ £ £ £
Schroder Oriental Income Fund
Ord GBP0.01
17,500 47,075 7,500 18,862 (1,313) 333
333
350
600 10,000 27,500 980
Schroder Unit Trusts
Asian Income L Inc
38,000 29,473 585
205 38,000 29,678 846
Smith & Nephew
Ordinary US$0.20
2,000 25,070 2,000 24,027 (1,043)
SPDR Trust
S&P US Dividends Aristocrats
1,200 65,530 344
416
3,350 1,200 68,880 381
Treasury
2 1/2% I/l Stk 2024
13,000 47,833 13,000 49,213 1,380 523
Treasury
5% Stk 2025
30,000 30,411 666 30,000 31,077

THE HORNBY LONSDALE CHARITABLE TRUST

INVESTMENT SCHEDULE

FOR THE YEAR ENDED 31 JANUARY 2023

Holding Market Value Additions Disposals Disposals Realised Unrealised Holding Market Value Net Income
1 February 1 February Quantity Cost Quantity Proceeds Profit/(loss) Profit/(loss) 31 January 31 January
2022 2022 2023 2023
£ £ £ £ £ £ £ £
Treasury Index linked
0.125% stock 22/03/29
26,000 42,978 22
(3,420) 26,000 39,558 23
Twentyfour Global Investment Funds
Corporate Bond I GBP Dis
300 29,922 219
217
222
219
(4,707) 300 25,215 240
Unilever
Ordinary 3 1/9p
1,000 37,875 360
359
363
3,210 1,000 41,085 372
United Kingdom(Government Of)
0% T-Bill 12/12/2022 GBP500000
51,000 50,702 51,000 50,515 (187)
Vodafone Group
Ordinary US$0.2095238
410

THE HORNBY LONSDALE CHARITABLE TRUST

INVESTMENT SCHEDULE

FOR THE YEAR ENDED 31 JANUARY 2023

Holding Market Value Additions Disposals Disposals Realised Unrealised Holding Market Value Net Income
1 February 1 February Quantity Cost Quantity Proceeds Profit/(loss) Profit/(loss) 31 January 31 January
2022 2022 2023 2023
£ £ £ £ £ £ £ £
Volkswagon Financial Services 2.25% Gtd
units
44,000 42,173 (492) 44,000 41,681
Vonovia Se
NPV shares
742 31,111 (14,059) 742 17,052 1,042
Woodside Energy Group Ltd
Ordinary No Par Value (Di)
198 3,369 198 3,525 170
(14)
TOTAL: 2,115,944 663,092 625,451 (51,742) 251 2,102,094 51,204