## **Report** ## **On the verification of the accounts for the financial year 2024 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 2024. 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. April 17, 2025: Antonio Fappiano Annexes: Annual accounts 2024 ||**_2024_**|**_2023_**|**_Diff_**| |---|---|---|---| |**_British Charity Fund - Berne_**
**_BALANCE SHEET_**
**_ASSETS_**
Cash
Bank current account BEKB
Securities account (Money-Net)
Securities valuation
Securities Portfolio
Withholding tax to be recovered
**_TOTAL ASSETS_**
**_LIABILITIES_**
Capital Value of Fund brought forward
Profit (-) or loss(+) of the current year
**_TOTAL LIABILITIES_**
**_INCOME & EXPENSE STATEMENT_**
**_EXPENSES_**
Bank and current account charges
Courtage and Taxes
Stamp duty
Safekeeping fees
Payments to individuals
Payments to other Organizations
Trustees' expenses (Meetings)
Trustees' expenses for recipients
Miscellaneous expenses
**_TOTAL EXPENSES_**
**_INCOME_**
Dividends and assimilated income
Bank interest
**_TOTAL INCOME_**
**_Excess(-) Deficit(+) from Income & Expense Statement_**|**_CHF_**|**_CHF_**|**_CHF_**| ||72,808.43
141,264.92
-68,456.49
114,873.63
86,358.98
28,514.65
1,110,661.00
1,029,866.00
80,795.00
9,916.30
82,926.30
-73,010.00
13,111.99
12,210.90
901.09||| ||**_1,321,371.35_**
**_1,352,627.10_**
**_-31,255.75_**||| ||-1,352,627.10
-1,382,297.63
29,670.53
31,255.75
29,670.53
1,585.22||| ||**_-1,321,371.35_**
**_-1,352,627.10_**
**_31,255.75_**||| ||32.95
32.95
39.60
140.30
-100.70
5.84
22.75
-16.91
2,818.20
2,683.05
135.15
56,273.55
62,673.30
-6,399.75
11,000.00
11,000.00
986.65
619.08
367.57
77.40
458.90
-381.50
150.40
177.40
-27.00||| ||**_71,384.59_**
**_66,774.78_**
**_4,609.81_**
-40,024.16
-36,736.45
-3,287.71
-104.68
-367.80
263.12||| ||**_-40,128.84_**
**_-37,104.25_**
**_-3,024.59_**||| ||**_31,255.75_**
**_29,670.53_**
**_1,585.22_**||| ## **British Charity Fund – Berne** ## **Financial year 2024** ## **Financial Statements** The loss for the year amounts to CHF 31,255.75 (2023: CHF 29,670.53) mainly due to the payments to individuals of CHF 56,273.55 and organisations (CHF 11,000.00) (2023: CHF 62,673.00) being greater than the dividend and bank interest income of CHF 40,128.84 (2023: CHF 37,104.25). No investments were sold during the year. ## **Cash on Hand** Cash on hand amounts to CHF 187,682.06 comprising a current account of CHF 72,808.43 and investment account of CHF 114,873.63 representing 14% of the total capital (2023: 17%). ## **Investments** Investments have been relatively stable during the year with just one additional investment amounting to CHF 7,785 for Nestle. ## **Income from investments** The yield on investments for 2024 was 3.4% at CHF 40,024 similar to the previous year at 3.6%. Total return on capital amounts to 3.0% (2023: 2.8%) compared to the Swiss Market Index (SMI) return of 7.0% (2023: 7.1%).