## **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: 

- The balance sheet and accounts are consistent with the accounts. 

- 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%).