## **ESTATE CHARITY OF ALICE, DUCHESS DUDLEY** ## **REPORT AND ACCOUNTS** **FOR THE YEAR ENDED 30 JUNE 2024** ## **REGISTERED CHARITY NUMBER 244804** ## **H. L. BARNES** ``` ───────────────────────────────── ``` C H A R T E R E D A C C O U N T A N T S STRATFORD-UPON-AVON ## **ESTATE CHARITY OF ALICE, DUCHESS DUDLEY REPORT AND ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2024** ||||**I N D E X**| |---|---|---|---| |1|||Trustees and advisers| |2|-|4|Trustees’ annual report| |5|||Independent examiner’s report| |6|||Statement of financial activities| |7|||Balance sheet| |8|-|13|Notes to the accounts| |14|-|17|Schedule of investment transactions| ## **ESTATE CHARITY OF ALICE, DUCHESS DUDLEY** ## **TRUSTEES AND ADVISERS** |**TRUSTEES**||**APPOINTED**| |---|---|---| ||H L Gray-Cheape Esq JP DL|1986| ||J Rigg Esq (resigned 27 September 2023)|1994| ||Mrs J Bird|1997| ||C P Stratton Esq FRICS MRTPI|2002| ||D J Barnes Esq FCA|2009| ||J G Chambers Esq|2013| ||C E A Haselwood Esq FAAV|2015| ||R Treverton-Jones Esq|2018| ||The Hon. C A Leigh|2019| ||M Throckmorton Esq|2022| ||B Green (appointed 13 March 2024)|2024| |**CLERK TO THE TRUSTEES**||| ||Nicholas Barlow BSc(Hons) FRICS FAAV|| ||Balsall Common|| |**CHARITY NUMBER**|244804|| |**SOLICITORS**||| ||Lodders Solicitors LLP|| ||Stratford upon Avon|| |**INVESTMENT MANAGERS**||| ||EFG Harris Allday|| ||Ombersley|| |**BANKERS**||| ||Lloyds Bank plc.|| ||Stratford upon Avon|| |**ACCOUNTANTS**||| ||H. L. Barnes|| ||Stratford upon Avon|| |**REGISTERED ADDRESS**|Oaklands Farm|| ||Balsall Street|| ||Balsall Common|| ||Nr Coventry|| ||West Midlands|| ||CV7 7AQ|| 1 ## **ESTATE CHARITY OF ALICE, DUCHESS DUDLEY** ## **TRUSTEES’ ANNUAL REPORT** ## **FOR THE YEAR ENDED 30 JUNE 2024** The trustees present their report along with the financial statements of the Charity for the year ended 30 June 2024. The financial statements have been prepared in accordance with the accounting policies set out on page 8 and comply with the Charity’s Trust Deed, 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 2015). ## **Structure, governance and management** The Estate Charity of Alice, Duchess Dudley is regulated by a scheme of the Charity Commissioners of 13 June 1879, as varied by a scheme of the Charity Commissioners of 6 January 1885 and is now governed by a Charity Commission Scheme dated 11 January 1962. The Registered Charity number is 244804. The Charity was established from a bequest by Alice, Duchess Dudley on her death in 1669 (355 years ago). The funds have been added to over the course of time with the purchase of property and investments. The Charity does not actively fundraise and seeks to continue its work through careful stewardship of its existing resources. The Trust Deed states the body of trustees shall consist when complete of 10 competent persons who reside in or near the County of Warwick or the County of Northampton. A trustee shall be appointed for a term of 5 years by a resolution of the trustees passed at a special meeting. Thereafter a trustee may be reappointed. The induction process for any newly appointed trustee comprises a meeting with the Chairman and the Board at which the powers and responsibilities of the Board are outlined and a brief history of the Trust is given. The trustees are required to hold at least two ordinary meetings in each year. Committees meet as required and report to the full board of trustees. The day to day administration of the Charity is handled by the Clerk to the Trustees. Each year 15% of the rents are transferable to a Building Reserve Fund. Withdrawals from this can be made for the repair, extraordinary repair, improvement and re-building of the property owned by the Charity. ## **Risk management** The Charity trustees have considered the major risks to which the charity is exposed and have reviewed those risks and established systems and procedures to manage those risks. Continued … 2 ## **ESTATE CHARITY OF ALICE, DUCHESS DUDLEY** ## **TRUSTEES’ ANNUAL REPORT** ## **FOR THE YEAR ENDED 30 JUNE 2024** ## **Objectives and activities** The object of the Charity is to distribute excess income between 2 individuals and 8 other organisations in varying proportions for relief of poverty and religious activities, as set out in the Trust Deed. The beneficiaries are as follows :- |es are as follows :-|| |---|---| ||**No. of shares of**| ||**distributions**| ||────────────| |Vicar of Bidford-on-Avon|9/102| |Vicar of Blakesley|9/102| |Poor of Bidford-on-Avon|12/102| |Poor of Blakesley|8/102| |Poor of Kenilworth|12/102| |Poor of Leek Wootton|6/102| |Trustees of Leigh Almshouses|24/102| |Litchborough Charities|8/102| |Poor of Patishall|8/102| |Stoneleigh United Charities|6/102| The trustees have referred to the guidance contained in The Charity Commission’s general guidance on public benefit when reviewing their aims and objectives and in planning for future activities. In particular the trustees consider how planned activities will contribute to the aims and objectives they have set. The Charity’s original Terms and subsequent Schemes and Trust Deed restrict any grant distribution to those specified above and in the stated proportions. ## **Financial Review including Achievement and Performance** The Trust's income comes from its investments and rents. The total income for the year was £231,051 (2023, £211,416). Expenditure is on the upkeep of the properties and the governance of the Trust. The distributions to the beneficiaries are half-yearly with the total paid for the year being £125,550 (2023, £137,700). The remaining surplus is in line with expectations. It is hoped that the level of distributions can be maintained in the future. ## **Investment policy** The trustees have formulated a statement of investment principles in relation to the Charity’s funds. The investment managers, EFG Harris Allday, have full discretionary powers within agreed guidelines. ## **Reserves policy** In accordance with the terms of the trust deed, it is the policy of the charity to retain from income as an addition to unrestricted funds, which are the free reserves of the charity, such reasonable sums as the trustees think fit. Continued … 3 ## **ESTATE CHARITY OF ALICE, DUCHESS DUDLEY** ## **TRUSTEES’ ANNUAL REPORT** ## **FOR THE YEAR ENDED 30 JUNE 2024** ## **Trustees' responsibilities in relation to the financial statements** The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the trustees should follow best practice and : - i) select suitable accounting policies and then apply them consistently; - ii) make judgements and estimates that are reasonable and prudent; - iii) state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements; and - iv) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and which 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. The trustees are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ## **Approved by the Trustees and signed on their behalf by :** …………………………………………. H L GRAY-CHEAPE (Chairman) 25 September 2024 4 ## **INDEPENDENT EXAMINER’S REPORT** ## **TO THE TRUSTEES OF ESTATE CHARITY OF ALICE, DUCHESS DUDLEY** I report to the charity’s trustees on my examination of the accounts of the charity for the year ended 30 June 2024 which are set out on pages 6 to 17. ## **Responsibilities and basis of report** As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the charity’s accounts 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. ## **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 : 1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination. 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 accounts to be reached. R W P Bowen FCA Chartered Accountant H. L. Barnes Barclays Bank Chambers Stratford upon Avon 25 September 2024 5 ## **ESTATE CHARITY OF ALICE, DUCHESS DUDLEY** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2024** |**Notes**
**Income**
Investment income
2
**Total income**
**Expenditure**
Charitable expenditure :
Grants payable
3
Costs of generating funds :
Property and investment
costs
4
**Total expenditure**
**Net income before gains on**
**investments**
Gains on investment property
6
Gains/(losses) on investments
7
**Net income/(expenditure)**
Transfer between funds
11
**Net movement in funds**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**
12|**Endowment**
**Fund**
**Unrestricted**
**Funds**
**Designated**
**Fund**
**Total**
**2024**
**Total**
**2023**| |---|---| ||£
£
£
£
£
-
220,437
10,614
231,051
211,416
───────
───────
───────
───────
───────
-
220,437
10,614
231,051
211,416
───────
───────
───────
───────
───────
-
128,688
-
128,688
140,864
-
52,353
1,372
53,725
44,856
───────
───────
───────
───────
───────
-
181,041
1,372
182,413
185,720
───────
───────
───────
───────
───────
-
39,396
9,242
48,638
25,696
2,496,800
142,775
-
2,639,575
-
13,398
77,031
20,502
110,931
(125,020)
───────
───────
───────
───────
───────
2,510,198
259,202
29,744
2,799,144
(99,324)
-
(8,254)
8,254
-
-
───────
───────
───────
───────
───────
2,510,198
250,948
37,998
2,799,144
(99,324)
3,667,564
1,894,418
289,928
5,851,910
5,951,234
───────
───────
───────
───────
───────
£6,177,762
£2,145,366
£ 327,926
£8,651,054
£5,851,910
═══════
═══════
═══════
═══════
═══════| The notes on pages 8 to 13 form part of the accounts. 6 ## **ESTATE CHARITY OF ALICE, DUCHESS DUDLEY** ## **BALANCE SHEET AT 30 JUNE 2024** ||**Notes**|**2024**|**2023**| |---|---|---|---| |||£|£| |**Fixed assets**|||| |Investment properties|6|6,445,300|3,805,725| |Investments|7|2,011,047|1,874,303| |||───────|───────| |**Total fixed assets**||8,456,347|5,680,028| |||───────|───────| |**Current assets**|||| |Debtors and prepayments|8|33,403|30,511| |Short term deposits|9|150,997|133,145| |Cash at bank|9|32,369|27,997| |||───────|───────| |**Total current assets**||216,769|191,653| |**Liabilities :**amounts falling due within one year|10|22,062|19,771| |||───────|───────| |**Net current assets**||194,707|171,882| |||───────|───────| |**Net assets**||£8,651,054|£5,851,910| |||═══════|═══════| |**The funds of the charity**|11||| |Endowment funds|||| |Permanent endowment||6,177,762|3,667,564| |Unrestricted income funds :|||| |General fund||2,145,366|1,894,418| |Designated fund||327,926|289,928| |||───────|───────| |**Total charity funds**||£8,651,054|£5,851,910| |||═══════|═══════| |Approved by the Trustees on 25 September 2024|||| |and signed on their behalf by :-|||| H L GRAY-CHEAPE ………………………………………………… Trustee The notes on pages 8 to 13 form part of these accounts. 7 **ESTATE CHARITY OF ALICE, DUCHESS DUDLEY** ## **NOTES TO THE ACCOUNTS** ## **FOR THE YEAR ENDED 30 JUNE 2024** ## **1. ACCOUNTING POLICIES** ## **a) Basis of accounting** The accounts have been prepared under the historical cost convention and in accordance with applicable accounting standards and the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) and the Charities Act 2011. ## **b)** ## **Investment income** All investment income, including deposit interest, is shown on the basis of amounts received or credited in the year. No credit is taken for accrued interest at the balance sheet date. ## **c) Resources expended** All expenditure is accounted for on an accruals basis. ## **d)** ## **Investment assets** In accordance with the provisions of the Statement of Recommended Practice, investments are held at fair value and any gains or losses are reflected in the accounts through the Statement of Financial Activities. ## **e) Designated fund** This is a Building Reserve Fund and is used to repay the General Fund for expenditure on the improvement and maintenance of the properties. 8 **ESTATE CHARITY OF ALICE, DUCHESS DUDLEY** ## **NOTES TO THE ACCOUNTS (CONTINUED)** ## **FOR THE YEAR ENDED 30 JUNE 2024** ## **2. INVESTMENT INCOME** |**2.**
**INVESTMENT INCOME**||| |---|---|---| ||**2024**|**2023**| ||£|£| |Dividends|85,511|71,797| |Rents|145,540|139,619| ||──────|──────| ||£231,051|£ 211,416| ||══════|══════| All investment income relates to unrestricted funds, expendable at the discretion of the trustees. |**3.**|**GRANTS PAYABLE**||| |---|---|---|---| |Distributions||125,550|137,700| |Support and governance costs||3,138|3,164| |||──────|──────| |||£128,688|£140,864| |||══════|══════| |All|grants payable relate to unrestricted funds.||| |**4.**
**PROPERTY AND INVESTMENT COSTS**||| |---|---|---| |Repairs and maintenance|13,577|3,336| |Insurances|8,086|6,782| |Management fees|17,602|16,707| |Professional fees - Property|1,576|5,330| |Professional fees - Investments|9,745|9,537| |Support and governance costs|3,139|3,164| ||──────|──────| ||£ 53,725|£ 44,856| ||══════|══════| All property costs relate to unrestricted funds, except £1,372 of professional fees which relate to the designated fund. ## **5. SUPPORT AND GOVERNANCE COSTS** |Accountancy|5,520|5,040| |---|---|---| |Country Landowners Association subscription|307|271| |Trustees' meeting expenses|450|1,017| ||──────|──────| ||£ 6,277|£ 6,328| ||══════|══════| Support and governance costs have been allocated to activities based on the Trustees’ time. 9 ## **ESTATE CHARITY OF ALICE, DUCHESS DUDLEY** ## **NOTES TO THE ACCOUNTS (CONTINUED)** ## **FOR THE YEAR ENDED 30 JUNE 2024** ## **6. INVESTMENT PROPERTIES** |**6.**
**INVESTMENT PROPERTIES**|| |---|---| |Valuation
At 1 July 2023
Disposal in year
Revaluations
At 30 June 2024|**Permanent**
**Endowment**
**Fund**
**General**
**Fund**
**Total**| ||£
£
£
3,328,500
477,225
3,805,725
-
-
-
2,496,800
142,775
2,639,575
──────
──────
──────
£5,825,300
£ 620,000
£6,445,300
══════
══════
══════| The investment properties were revalued at 30 June 2024 by the trustees at open market value on that date. ## **7. INVESTMENTS** |Quoted investments
Market value 1 July 2023
Additions
Disposals
Net realised investment
gains/(losses)
Net unrealised investment
gains/(losses)
Market value at 30 June 2024
Historical cost 30 June 2024|**Permanent**
**Endowment**
**Fund**
**Building**
**Reserve**
**Fund**
**General**
**Fund**
**Total**
**2024**
**Total**
**2023**| |---|---| ||£
£
£
£
£
199,064
248,229
1,427,010
1,874,303
1,857,890
-
38,391
181,451
219,842
254,136
-
(11,063)
(182,966)
(194,029)
(112,703)
-
2
(4,536)
(4,534)
192
13,398
20,500
81,567
115,465
(125,212)
──────
──────
──────
──────
──────
£ 212,462
£ 296,059
£1,502,526
£2,011,047
£1,874,303
══════
══════
══════
══════
══════
£ 168,888
£ 288,432
£1,281,571
£1,738,891
£1,699,848
══════
══════
══════
══════
══════| A detailed analysis of quoted investments held is shown on pages 14 to 17. 10 **ESTATE CHARITY OF ALICE, DUCHESS DUDLEY NOTES TO THE ACCOUNTS (CONTINUED)** ## **FOR THE YEAR ENDED 30 JUNE 2024** |**8.**|**DEBTORS**|**2024**|**2023**| |---|---|---|---| |||£|£| |Prepayments||2,459|2,092| |Other|debtors|30,944|28,419| |||──────|──────| |||£ 33,403|£ 30,511| |||══════|══════| ## **9. SHORT TERM DEPOSITS AND CASH AT BANK** |Monies held by brokers
Bank balances|**General**
**Fund**
**Building**
**Reserve**
**Fund**
**Total**
**2024**
**Total**
**2023**| |---|---| ||£
£
£
£
146,684
4,313
150,997
133,145
32,369
-
32,369
27,997
──────
──────
──────
──────
£ 179,053
£ 4,313
£ 183,366
£ 161,142
══════
══════
══════
══════| ## **10. LIABILITIES :** amounts falling due within one year ||**2024**|**2023**| |---|---|---| ||£|£| |Creditors and accruals|22,062|19,771| ||──────|──────| ||£ 22,062|£ 19,771| ||══════|══════| 11 ## **ESTATE CHARITY OF ALICE, DUCHESS DUDLEY** ## **NOTES TO THE ACCOUNTS (CONTINUED)** ## **FOR THE YEAR ENDED 30 JUNE 2024** ## **11. ANALYSIS OF CHARITABLE FUNDS** |**Current Year**
a)
Permanent
Endowment Funds
**Unrestricted**
**Income funds**
b)
General fund
c)
Designated fund
**TOTAL CHARITY FUNDS**
**Previous Year**
a)
Permanent
Endowment Funds
**Unrestricted**
**Income funds**
b)
General fund
c)
Designated fund
**TOTAL CHARITY FUNDS**|**Balances at**
**Income**
**Expenditure**
**Transfers**
**Gains**
**Balances**
**30 June**
**and**
**at 30 June**
**2023**
**losses**
**2024**| |---|---| ||£
£
£
£
£
£
3,667,564
-
-
-
2,510,198
6,177,762
1,894,418
220,437
(181,041)
(8,254)
219,806
2,145,366
289,928
10,614
(1,372)
8,254
20,502
327,926
───────
───────
───────
───────
───────
───────
£5,851,910
£ 231,051
£(182,413)
£ -
£2,750,506
£8,651,054
═══════
═══════
═══════
═══════
═══════
═══════
**Balances at**
**30 June**
**Income**
**Expenditure**
**Transfers**
**Gains**
**and**
**Balances at**
**30 June**
**2022**
**losses**
**2023**| ||£
£
£
£
£
£
3,684,527
-
-
-
(16,963)
3,667,564
1,985,645
202,004
(184,425)
(17,607)
(91,199)
1,894,418
281,062
9,412
(1,295)
17,607
(16,858)
289,928
───────
───────
───────
───────
───────
───────
£ 5,951,234
£ 211,416
£(185,720)
£ -
£(125,020)
£5,851,910
═══════
═══════
═══════
═══════
═══════
═══════| Name of fund description, nature and purpose of the fund. - a) The Permanent Endowment Funds arose originally from a bequest by Alice, Duchess Dudley in 1669. These funds have been added to over the course of time with the purchase of property and investments. The income from these is freely available to fund the activities of the Charity. - b) The General Fund income is available to be spent for any of the purposes of the Charity. - c) Under the Charity Commission Scheme dated 11 January 1962, 15% of the rents are transferable annually to a Building Reserve Fund. Withdrawals from this fund can be made for the repair, extraordinary repair, improvement and re-building of property belonging to the Charity. 12 **ESTATE CHARITY OF ALICE, DUCHESS DUDLEY** ## **NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024** ## **12. ANALYSIS OF NET ASSETS BETWEEN FUNDS** |Fund balances at 30 June
are represented by:
Tangible fixed assets
Investments
Current assets
Current liabilities
**Total net assets**|**2024**
**2023**
**Unrestricted**
**Funds**
**Endowment**
**Fund**
**Total**
**Funds**
**Unrestricted**
**Funds**
**Endowment**
**Fund**
**Total**
**Funds**| |---|---| ||£
£
£
£
£
£
620,000
5,825,300
6,445,300
477,225
3,328,500
3,805,725
1,798,585
212,462
2,011,047
1,675,239
199,064
1,874,303
76,769
140,000
216,769
51,653
140,000
191,653
(22,062)
-
(22,062)
(19,771)
-
(19,771)
───────
───────
───────
───────
───────
───────
£2,473,292
£6,177,762
£8,651,054
£2,184,346
£3,667,564
£5,851,910
═══════
═══════
═══════
═══════
═══════
═══════| ## **13. TRANSACTIONS WITH CONNECTED PERSONS** Mr Nicholas Barlow, Clerk to the Trustees, of Barlow Associates Limited, was paid £19,178 (2023 £21,386) for management, other professional fees and expenses, including rent and insurance reviews, in relation to the Charity. No remuneration has been paid to any of the trustees or any person connected with them. 13 ## **ESTATE CHARITY OF ALICE, DUCHESS DUDLEY SCHEDULE OF INVESTMENTS AT 30 JUNE 2024** |Fidelity European Values
25p Ordinary shares
AVI Global Trust plc
2p Ordinary shares
Primary Health Properties plc
12p Ordinary shares
HICL Infrastructure Co
1p Ordinary shares
Carried forward
**GENERAL FUND**
National Grid plc
0.12431289p Ordinary shares
Unilever plc
3 1/9p Ordinary shares
Alliance Trust plc
2.5p Ordinary shares
Astrazeneca plc
USD 00.25 Ordinary shares
Scottish Mortgage Investment Trust plc
25p Ordinary shares
Diageo
28.935p Ordinary shares
Blackrock North American Income Trust plc
1p Ordinary shares
Bankers Investment Trust plc
25p Ordinary shares
Reckitt Benckiser Group plc
10p Ordinary shares
Law Debenture Corp plc
Shares
Residential Secure Income plc
REIT
Rio Tinto
10p New Ordinary shares
JPM Global Emerging Markets Income Trust
0.01p Ordinary shares
Pennon Group plc
40.7p Ordinary shares
Severn Trent plc
0.9789p Ordinary shares
Baillie Gifford UK Growth FD (Schroder UK Growth fund)
25p Ordinary shares|**Holding at**
**30 June**
**2023**|**Market value**
**at 30 June**
**2023**
**Cost**
**in year**
**Sales**
**in year**
**Profit/(loss)**
**on sale**
**Holding at**
**30 June**
**2024**|**Market value**
**at 30 June**
**2024**
**Surplus/**
**(deficit) on**
**revaluation**| |---|---|---|---| ||17,535 shares
29,745 shares
30,410 shares
10,480 shares
2,885 shares
1,040 shares
6,210 shares
46 shares
7,200 shares
1,170 shares
29,155 shares
52,000 shares
670 shares
7,600 shares
50,000 shares
686 shares
41,000 shares
2,340 shares
1,945 shares
26,000 shares|60,496
-
-
-
17,535 shares
56,397
-
6,158
878
26,960 shares
29,026
-
-
-
30,410 shares
14,064
3,563
-
-
13,315 shares
£ 817,860
£ 3,563
£ 124,337
£ (1,285)
£
£
£
£
30,018
-
1,233
1,233
2,885 shares
42,614
-
-
-
1,040 shares
62,597
-
9,635
1,017
5,355 shares
5,187
-
-
-
46 shares
47,981
-
-
-
7,200 shares
39,534
-
-
-
1,170 shares
54,228
-
-
-
29,155 shares
50,960
-
-
-
52,000 shares
39,610
-
-
-
670 shares
58,292
-
19,962
787
5,100 shares
31,400
-
-
-
50,000 shares
34,200
-
-
-
686 shares
52,070
-
-
-
41,000 shares
16,637
-
-
-
2,340 shares
49,909
-
44,782
(5,127)
-
42,640
-
42,567
(73)
-|68,913
8,417
63,895
12,778
27,901
(1,125)
16,564
(1,063)
£
£
25,463
(4,555)
45,188
2,574
64,903
10,924
5,684
497
63,662
15,681
29,127
(10,407)
57,435
3,207
59,176
8,216
28,689
(10,921)
43,095
3,978
24,150
(7,250)
35,679
1,479
55,555
3,485
13,420
(3,217)
-
-
-
-| ||||£ 728,499
£ 32,698| 14 ## **ESTATE CHARITY OF ALICE, DUCHESS DUDLEY SCHEDULE OF INVESTMENTS AT 30 JUNE 2024** ## **(CONTINUED)** |**GENERAL FUND**
Brought forward
Ballie Gifford Corp Bond Inc B
Ishares Core GBP Corp BD UCITS EFT
Octopus Renewables Infra Trust plc
J P Morgan Asian Inv Trust
25p Ordinary shares
J P Morgan GLB Core Assets Ltd
Triple PT Energy EFF Infra
25p Ordinary shares
Dunedin Inc Grwth Inv Tst
25p Ordinary shares
Finsbury Grwth and Inc Tst
25p Ordinary shares
JP Morgan China Grwth and Inc
25p Ordinary shares
Mercantile Inv Tst PLC
25p Ordinary shares
RM Infrastructure Inc Plc
1p Ordinary shares
Standard Life Priv Eq Tst
2p Ordinary shares
North American Inc Tst
5p Ordinary shares
LXI REIT PLC
1p Ordinary shares
GCP Infrastructure Inv Ltd
1p Ordinary shares
Ishares sandp 500 UCITS ETF DIST
UK Treasury
0.25%
Legal and General Group PLC
25p Ordinary shares
JP Morgan Gbl Growth & Inc
5p Ordinary shares|**Holding at**
**30 June**
**2023**|**Market value**
**at 30 June**
**2023**
**Cost**
**in year**
**Sales**
**in year**
**Profit/(loss)**
**on sale**
**Holding at**
**30 June**
**2024**|**Market value**
**at 30 June**
**2024**
**Surplus/**
**(deficit) on**
**revaluation**| |---|---|---|---| ||46,000 shares
322 shares
58,946 shares
11,674 shares
63,300 shares
34,478 shares
13,045 shares
7,000 shares
6,250 shares
22,500 shares
50,750 shares
10,842 shares
15,030 shares
52,000 shares
54,000 shares
-
-
-
-|£
£
£
£
817,860
3,563
124,337
(1,285)
33,125
-
-
-
46,000 shares
37,242
-
-
-
322 shares
54,525
-
-
-
58,946 shares
40,859
-
-
-
11,674 shares
49,374
-
-
-
63,300 shares
22,928
-
-
-
34,478 shares
36,917
-
-
-
13,045 shares
61,880
-
58,629
(3,251)
-
16,125
-
-
-
6,250 shares
43,740
-
-
-
22,500 shares
35,018
-
-
-
50,750 shares
49,277
-
-
-
10,842 shares
41,032
-
-
-
15,030 shares
44,772
-
-
-
52,000 shares
42,336
-
-
-
54,000 shares
-
39,916
-
-
1,145 shares
-
39,980
-
-
42,425 shares
-
39,894
-
-
18,060 shares
-
58,098
-
-
11,460 shares
£1,427,010
£ 181,451
£ 182,966
£ (4,536)|£
£
728,499
32,698
35,047
1,922
39,175
1,933
42,441
(12,084)
43,894
3,035
48,361
(1,013)
22,686
(242)
36,526
(391)
-
-
13,656
(2,469)
52,425
8,685
39,585
4,567
58,113
8,836
45,090
4,058
55,312
10,540
43,308
972
49,621
9,705
41,438
1,458
40,996
1,102
66,353
8,255| ||||£1,502,526
£ 81,567| 15 **ESTATE CHARITY OF ALICE, DUCHESS DUDLEY** ## **SCHEDULE OF INVESTMENTS AT 30 JUNE 2024 (CONTINUED)** |**BUILDING RESERVE FUND**
Witan Investment Trust
5p Ordinary shares
HICL Infrastructure Co
1p Ordinary shares
Dunedin Income Growth Investment Trust
25p Ordinary shares
Law Debenture Corp plc
Scottish American Inv. Co
25p Ordinary shares
Residential Secure Income plc
REIT shares
Fidelity European Values
25p Ordinary shares
Schroder UK Growth Fund (Baillie Gifford UK Growth FD)
25p Ordinary shares
Schroder Asia Pacific Fund
10p Ordinary shares
JP Morgan GLB Emerg Mkts Inc Tst
LXI Reit Plc
1p Ordinary shares
Sequoia Economic Infra inc
Baillie Giff Strat BD FD B Inc
Ishares Core GBP Corp BD UCITS ETF
City of London Inv Tst
25p Ordinary shares
JP Morgan Asian Inv Tst
25p Ordinary shares
Avi Global Trust plc
Edinburgh Worldwide Inv T
1p Ordinary shares
JP Morgan GLB Core Assets Ltd
North American Inc Tst
5p Ordinary shares
Bankers Investment Trust
25p Ordinary shares
Mercantile Inv Tst PLC
25p Ordinary shares
UK Treasury
0.25%
UK Treasury
0.125%
JP Morgan Global Growth and Inc
5p Ordinary shares|**Holding at**
**30 June**
**2023**|**Market value**
**at 30 June**
**2023**
**Cost**
**in year**
**Sales**
**in year**
**Profit/(loss)**
**on sale**
**Holding at**
**30 June**
**2024**|**Market value**
**at 30 June**
**2024**
**Surplus/**
**(deficit) on**
**revaluation**| |---|---|---|---| ||5,800 shares
8,400 shares
4,600 shares
1,800 shares
2,800 shares
12,850 shares
4,000 shares
4,500 shares
2,740 shares
8,200 shares
10,600 shares
17,300 shares
8,102.852 shares
62 shares
3,500 shares
3,915 shares
7,500 shares
4,000 shares
15,865 shares
5,000 shares
11,000 shares
4,900 shares
-
-
-|£
£
£
£
13,137
-
-
-
5,800 shares
11,273
-
-
-
8,400 shares
13,018
-
-
-
4,600 shares
13,806
-
3,685
4
1,320 shares
14,616
-
-
-
2,800 shares
8,069
-
-
-
12,850 shares
13,800
-
-
-
4,000 shares
7,380
-
7,378
(2)
-
13,508
-
-
-
2,740 shares
10,414
-
-
-
8,200 shares
9,127
-
-
-
10,600 shares
13,286
-
-
-
17,300 shares
5,835
-
-
-
8,102.852 shares
7,171
-
-
-
62 shares
13,895
-
-
-
3,500 shares
13,703
-
-
-
3,915 shares
14,220
-
-
-
7,500 shares
5,640
-
-
-
4,000 shares
12,375
-
-
-
15,865 shares
13,650
-
-
-
5,000 shares
10,780
-
-
-
11,000 shares
9,526
-
-
-
4,900 shares
-
9,820
-
-
10,340 shares
-
17,601
-
-
21,120 shares
-
10,970
-
-
2,160 shares
£ 248,229
£ 38,391
£ 11,063
£ 2|£
£
15,544
2,407
10,450
(823)
12,880
(138)
11,154
1,029
14,364
(252)
6,207
(1,862)
15,720
1,920
-
-
14,686
1,178
11,111
697
11,275
2,148
13,840
554
6,174
339
7,543
372
14,700
805
14,720
1,017
17,775
3,555
5,888
248
12,121
(254)
15,000
1,350
12,518
1,738
11,417
1,891
10,099
279
18,367
766
12,506
1,536| ||||£ 296,059
£ 20,500| 16 ## **ESTATE CHARITY OF ALICE, DUCHESS DUDLEY** ## **SCHEDULE OF INVESTMENTS AT 30 JUNE 2024** ## **(CONTINUED)** |**PERMANENT ENDOWMENT FUND**
Primary Health Properties plc
12.5p Ordinary shares
Astrazeneca plc
USD 0.25 shares
Monks Investment Trust
5p Ordinary shares
HICL Infrastructure Co.
1p Ordinary shares
J P Morgan Asian Inv Trust
25p Ordinary shares
Triple PT Energy EFF Infra
1p Ordinary shares
Dunedin Inc Grwth Inv Tst
25p Ordinary shares
Ishares Core GBP Corp BD UCITS EFT
North American Inc Tst
5p Ordinary shares
Standard Life Priv Eq Tst (ABRDN)
2p Ordinary shares
**TOTALS**|**Holding at**
**30 June**
**2023**|**Market value**
**at 30 June**
**2023**
**Cost**
**in year**
**Sales**
**in year**
**Profit/(loss)**
**on sale**
**Holding at**
**30 June**
**2024**|**Market value**
**at 30 June**
**2024**
**Surplus/**
**(deficit) on**
**revaluation**| |---|---|---|---| ||18,890 shares
379 shares
4,900 shares
21,520 shares
4,031 shares
15,522 shares
6,955 shares
18 shares
3,260 shares
1,264 shares|£
£
£
£
18,031
-
-
-
18,890 shares
42,736
-
-
-
379 shares
48,559
-
-
-
4,900 shares
28,880
-
-
-
21,520 shares
14,108
-
-
-
4,031 shares

10,322
-
-
-
15,522 shares
19,683
-
-
-
6,955 shares
2,082
-
-
-
18 shares
8,900
-
-
-
3,260 shares
5,763
-
-
-
1,264 shares
£ 199,064
£ -
£ -
£ -
£1,874,303
£ 219,842
£ 194,029
£ (4,534)|£
£
17,332
(699)
46,829
4,093
57,918
9,359
26,771
(2,109)
15,157
1,049
10,214
(108)
19,474
(209)
2,190
108
9,780
880
6,797
1,034| ||||£ 212,462
£ 13,398| ||||£2,011,047
£ 115,465| 17