British Charity Fund - Berne Financial Statement Charity Fund Accounts 2022 as at 31.12.2022 Accounts Account Description Balance CHF Opening CHF BALANCE SHEET ASSETS 1000 Cash 1020 Bank current account BEKB 1030 Securities account (Money-Net) 1050 Securities valuation 1060 Conversion transit cash 1070 Provisions at year-end 1100 Change in Securities Portfolio 1150 Withholding tax to be recovered TOTAL ASSETS 205,142.00 3,594.50 100,838.38 192,969.27 1,014,950.40 1,008,223.10 50,560.05 -94,798.40 10,805.65 10,743.06 1,382,296.48 1,120,731.53 LIABILITIES 2000 Agreed payments not yet disbursed 2400 Treasurer for payments made 2410 Expense Payments due 2900 Brought forward profit or loss 2950 Capital Value of Fund Profit (-) or loss(+) of the current year TOTAL LIABILITIES 1,746.55 -1,120,731.53 -1,122,478,08 -261,564.95 -1,382,296.48 -1,120,731.53 Difference in accounts INCOME & EXPENSE STATEMENT EXPENSE 3000 Loss on valuation / disposal of investments 3100 Bank and current account charges 3120 Courtage and Taxes 3130 Stamp duty 3140 Safekeeping fees 3200 Payments to individuals 3300 Payments to other Organizations 3500 Trustees, expenses ( Meetings) 3510 Trustees, expenses for recipients 3800 MislIaneOUS expenses 3900 Excess of Income over Expense at year-end TOTAL EXPENSES 107.70 923.90 143.70 2,535.55 56,912.60 833.00 364.80 61,821.25 INCOME 4000 Profit on valuation / disposal of investments 4100 Dividends and assimilated income 4150 Accrued interest at year-end 4300 Bank interest 4500 Repayment of disbursements 4800 Donations 4900 Excess of Expense over Income at year-end TOTAL INCOME -903.00 -32,825.30 -289,657.90 -323,386.20 Excess(-) Deficit(+) from Income & Expense Statement -261,564.95
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British Charity Fund - Berne Financial year 2022 Financial Statements Our portfolio was greatly changed in 2022. On the one hand the stock market suffered a serious pull-back and on the other we received a very generous donation from Mr. and Mrs. Cook. Capital value at year-end was CHF 1,382,270.23 compared with the opening balance of CHF 1,120,731.53. However, the value of our investment portfolio, which started the year at CHF 1,008,223 and ended at CHF 1,014,950 actually lost 12.53 % after taking account of stock transactions (net purchases 152,116). Investments Our cash position increased massively with that donation from the Cooks of CHF 292,240 (after deducting expenses). We continued to extend our portfolio, investing in Lonza, Schindler and Straumann but disposing of Adecco and Clariant. We also substantially increased our holding in Roche as well as minor increases in other holdings. 2022 was generally a weak year for the stock market. The SMI was down 16.67 % and the SLI down 20.72 % Income from Investments The yield on our investments was 3.19 % at CHF 32,825 very similar to 2021 in real terms but down in percentage terms. Due to our increased capital the total return was 2.72 %, down from 2.98% in 2021. Payments Here we managed a record! We gave away CHF 56,912n (against dividend income of 32,825). While continuing to support three from last year (we did not give any more help to Ms. Nibagwire - who unfortunately died in November). You can see who we supported from the extract of account 3200 (attached). Account status At year end our current account stood at CHF 205,116 and our investment account at CHF 100,838. These two cash accounts made up just over 23 % of our total capital. This is to be ascribed to the unwelcoming investment situation just at a time when we had new funds available.
British Charity Fund, Berne Audit Report for the Financial Year 2022 I have examined the accounts submitted by your Treasurer, Nigel Coombs, in accordance with the mandate given to me. I carried out the audit between 26 February and 6 March 2023 and found the accounts to be kept in an orderly and accurate fashion. All the documents required for my review were produced. The accounts show income of Fr 323,386.20 and expenditure of Fr 61,847.50, resulting in an excess of Fr 261,538.70, and increasing the capital value of the fund to Fr 1,382,270.23. I can confirni that the Treasurer's Report, taken in conjunction with the Financial Statements printed out from the Banana accounting system represent a fair and accurate picture of the Fund's position at the end of 2022. I accordingly recommend that the Trustees accept the accounts as presented and that the Treasurer be thanked for the work he has done. Hector Davie I l April 2023