Report
On the verification of the accounts for the financial year 2023 of British Charity Fund in Berne
In accordance with the mandate entrusted to me, I have verified the accounting and annual accounts presented by the Treasurer for the financial year ended 31 December 2023.
After verification of bank accounts and other documents, I confirm that:
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The balance sheet and accounts are consistent with the accounts.
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Accurate accounting is maintained.
As a conclusion of this verification, I recommend that the accounts be approved as presented.
May 2, 2024:
Antonio Fappiano
Annexes:
Annual accounts 2023
British Charity Fund - Berne Charity Fund Accounts 2023 Financial Statement as at 31.12.202/ 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 1100 Securities Portfolio 1150 Withholding tax to be recovered TOTAL ASSETS 141,264.92 205,115.75 86,358.98 100,838.38 1,029,866.00 1,014,950.40 82,926.30 50,560.05 12,210.90 10,805.65 1,352,627.10 1,382,270.23 LIABILITIES 2900 Brought forward profit or loss 2950 Capital Value of Fund Profit (-) or loss(+) of the current year TOTAL LIABILITIES -261,538.70 -1,382,297.63 -1,120,731.53 29,670.53 -1,352,627.10 -1,382,270.23 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 Miscellaneous expenses TOTAL EXPENSES 140.30 22.75 2,683.05 62,673.30 619.08 458.90 177.40 66,774.78 INCOME 4000 Profit on valuation / disposal of investments 4100 Dividends and assimilated income 4150 Accrued interest at year-end 4300 Bank interest 4800 Donations 4900 Excess of Expense over Income at year-end TOTAL INCOME -36,736.45 -367.80 -37,104.25 Excess(-) Deficit{+) from Income & Expense Statement 29,670.53
Development of Charity Fund Investments 2022 2023 Security Price at 31.12 Cost of Holding Sale Sale amount Purch. Qty Purch. Amount Price at 31.12 Cost of Holding 360 29'(b6.40 450 20'929.50 400 27,507.85 115 67,160.80 40,675.50 2.320 293'412.80 226,223.20 1,780 141'737.40 151,068.60 17 22'005.50 20621.00 690 249,930.10 168,705.00 356 9,633.36 40 8,460.00 7,980.00 90 46,314.00 45,540.00 750 80,830.00 $4,405.00 1,000 89'029.40 94,560.00 171 4,463.10 80 11,587.81 10'848.00 250 100,100.00 109,900.00 Sale Sale Purch. Qty amount Qty Purch. Amount Part of PIF Hold'g Value at 31.12 Revenue Hold'g Value at 31.12 Revenue Av. Price Yield Alcon AG Holcim Logitech Lonza Nestlé Nominal Novartis Nominal Partners Group Roche BP Sandoz Group SA Schindler Swisscom SGS Swiss Re UBS Straumann Zurich Insurance 63.18 47.88 57.06 457.50 107.14 83.59 816.80 290.50 360 29,066.40 450 20,929.50 300 22,410.85 90 55,362.80 2,220 282,916.80 1,780 141,737.40 17 22,005.50 690 249,930.10 22,744.80 72.00 21,546.00 990.00 17,118.00 288.65 41,175.00 270.00 237,850.80 6,216.00 148,790.20 4,898.00 13,885.60 364.65 200,445.00 5,022.00 65.64 47.88 79.76 353.70 97.51 84.87 1,213.00 244.50 27.06 199.50 23,630.40 29,709.00 75.00 1,125.00 5.00 315.00 6,844.00 5,696.00 629.00 6,555.00 0.00 160.00 1'980.00 1,600.00 5,688.00 0.00 64.00 6'000.00 100.00 7,034.85 90.00 55,362.80 100.00 5,097.00 25.00 11'798.00 100.00 10,496.00 3.100/0 68.77 0.03Q/ 584.01 126.47 2.88V/o 79.63 3.831)/0 1,294 44 362.42 3.?-,, O OO'/c 211.50 ?.40Q/o 514.60 101. 1.7 3.7nl>.' 6.580/0 21 e.J70,' 14.67CII 200.00 14,895.00 9.00 9,905.50 150.00 45,216.10 166.80 506.60 2,150.00 86.48 13.92 105.60 442.30 40 90 20 1,000 8,460.00 6,672.00 45'594.00 1,980.00 43'000.00 1,600.00 86,480.00 5,310.00 160.00 40.00 8,460.00 46,314.00 60,940.00 89,029.40 506.00 72.54 94.56 26.10 135.60 439.60 4.420,.; 250.00 19'890.00 100.00 7,795.40 0 4.801, 1.054/ct 80 11,587.81 250 100,100.00 8,448.00 54.00 5,500.00 8.00 11,587.81 144.8i 0.76 % 400.40 5.460/, Totals Change since previous valuation Acquisition price (net of disposals) Change since purchase Yield at valuation prior 31 .12 Total Yield (incl. cash) CASH I part of fund Investment account (2018) 1,014,950.40 32,825.30 -145,388.16 -12.53¥0 849,458.20 165,492.20 19,630.70 171,746.16 1,029,866.16 36'736.00 -32,365.24 -3.05% 896,739.20 133'126.96 0.00 47,281.00 1 CJO.00:; 3.19% 2.72 % 205,142.00 23.16 % 100,838.38 3.620/0
DIVIO!
DI'JIO!
DIVIOI
141'265.00 86,359.00 Total Fund value 1,320,930.78 9 64,10 1,257,490.16 -.J boj
DIVIO!
From 2020 (with the change in cost price) Share Value is forrnatted as: Bold Red is less than 25 % of cost; Red is less than cost. Bold Blue is more than 125 % of cost. Light blue is between 11 OQ/o and 125 %
British Charity Fund- Berne Financial year 2023 Financial Statements The loss for the year amounts to CHF 29,671 mainly due to the payments to 14 individuals of CHF 62,673 (2022: CHF 56,912) being greater than the dividend and bank interest income of CHF 37,736 (2022: CHF 33,825). No investments were sold during the year. Cash on Hand Cash on hand amounts to CHF 227,622 comprising a current account of CHF 141,265 and investment account of CHF 86,359 representing 17% of the total capital (2022: 23% Investments Investments have been relatively stable during the year with a few additional investments amounting to CHF 47,281 for Nestle, SGS, Lonza and Logitech. Income from investments The yield on investments for 2023 was 3.6% at CHF 36,736 similar to the previous year at 3.2%. Total return on capital amounts to 2.8% (2022: 2.7%) compared to the Swiss Market Index (SMI) return of 7.1% (2022: _16.7%).