## ## ## |Contents|||Page| |---|---|---|---| |Independent
examiner's
report|||| |Trustees'
Report|||2-5| |Sterling Section Balance sheet|||| |Sterling Section Statement|of Financial Activities||| |Sterling Section Donations|||| |Sterling Section Investments|and Investment|Changes|9-10| |Dollar Section Balance Sheet|||| |Dollar Section Statement of Financial Activities|||12| |Dollar Section Grants|||13| |Dollar Section Investments|and Investment|Changes|14-15| |Notes to the Accounts|||16| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |BALANCE SH|EETas at 31st|December 2022|| |---|---|---|---| |||2022|2021| |UNRESTRICTED FUNDS||3,438,805.39|3,960,892.08| |There are no restricted or endowment|funds||| |represented
by:-|||| |INVESTIIENTS at Market Value||3,161,593.16|3,668,661.34| |CASH BALANCES|||| |Raymond James||123,476.62|260,301.23| |($5796.57)||4,811.03|4,281.17| |CAF Bank||154,663.79|29,269.05| |Hunters||938.79|5,939.29| |Creditor|||| |Hunters||-6,678.00|-7,560.00| |||3,438,805.39|3,960,892.08| ## ## ## |for|t|he|year end|ed 31stDecemb|er 2022|| |---|---|---|---|---|---|---| |INCOMING RESOURCES|||||2022|2021| |Fixed Interest (gross)|||||14,261.71|20,125.58| |UK Dividends|||||38,396.25|35,992.'14| |Unit Trust Accumulation
Units|||||431.93|259.54| |UK Property
Income Distributions|||||952.00|928.00| |Overseas
Dividends|||||28,992.34|25,710.96| |Adjustment
to Roche dividends
2021|||||19.46|0.00| |Bank interest|||||141.18|0.00| |Gain on currency conversion|||||529.86|0.00| ||||||83,724.73|83,016.22| |RESOURCES EXPENDED||||||| |Transfer to Dollar Section|||||0.00|150,000.00| |Direct Charitable
Ex enditure||||||| |Donations|||||55,500.00|53,000.00| |Mana
ement and Administration||Ex enditure||||| |Hunters fees and disbursements||for 2022 inc VAT|||24,180.00|20,760.00| |G Taviner fee for 2022|||||5,000.00|4,039.77| |Burgess Hodgson
Independent|Examination|||fee 2021 a/cs|1,002.00|967.22| |Raymond James fees|||||14,329.17|14,932.39| |Trustees meeting expenses|||||579.94|433.13| |Trustee travel expenses|||||0.00|102.70| |Bank fees|||||163.00|229.00| |Loss on currency conversion|||||0.00|1,773.81| ||||||100,754.11|246,238.02| |There are no publicity or fund||raising costs||||| |Net Income/Outgoing
Resources|||in year||-1?,029.38|-163,221.80| |GAIN/LOSS
ON INVESTMENTS||IN|THE YEAR|||| |Realised|||||2,442.80|-2,382.82| |Unrealised|||||-507,500.11|348,458.93| |BALANCE B/FWD AT 1STJANUARY 2022|||||3,960,892.08|3,778,037.77| |BALANCE at31stDecember 2021|||||3,438,805.39|3,960,892.08| ## ## ## |||||2022|2021| |---|---|---|---|---|---| |Cheque|No||||| |via Hunters||Born Free Foundation||5,000|| |113||Curly Tails||3,000|3,000| |||Durrell Wildlife Conservation|Trust (Jersey)||2,000| |104||Environmental
Investigation|Agency|1,500|2000| |||Fauna L Flora International|||3,000| |109||Free the Bears UK||5,000|5,000| |||Freshfields
Animal Rescue|||2,000| |105||Help in Suffering
{UK)||2,000|2,000| |transfer||Mauritian
Wildlife Foundation|{Mauritius)|7,000|6,000| |106||Mayhew
Home||2,000|2,000| |transfer||Reef Conservation
(Mauritius)||2,000|2,000| |110||Royal Vetennary
College Animal Care Trust||5,000|5,000| |107||Safe Haven for Donkeys||2,000|2,000| |transfer||Society ofSt Pius X(Switzerland)||12,000|12,000| |10s||World Veterinary
Service||3,000|| |112||Zimbabwe
NSPCA (Zimbabwe)||6,000|5,000| |||||55500|53,000| ## ## ||||||||Value at|Value at| |---|---|---|---|---|---|---|---|---| |||||||Income|31/12/22|31/12/21| |Fixed Interest||||||||| |$200,000||Tesco 6.15%%d 15/11/37||||10,169.63|160,157.70|193,051.54| |f43,500||UK Treasury 4.125'/o
I/I 22/1/2030||||4,092.08|146,225.25|167,465.10| |||||||14,261.71||| |UK Equities||||||||| |18,000||BPUS$0.25||||3,352.25|85,482.00|59,490.00| |1,550||British American Tobacco|Ord 25p|||3,367.36|50,863.25|42,369.25| |2,000||Derwent
London Ord 5p||||1,312.00|47,360.00|68,300.00| |1,7QO||Diageo Ord 0.28 101/108p||||1,295.06|62,050.00|68,612.00| |2,600||Experian
Ord US$0.10||||1,077.52|73,138.00|94,432.00| |3,280||GSK Ord 0.3125p||||2,829.00|47,153.28|65,870.60| |4,100||Haleon Ord 0.01p||||0.00|13,421.35|0.00| |1,4QQ||Imperial
Brands Ord 10p||||1,964.62|28,994.00|22,631.00| |130,000||Lloyds Banking Group Ord 1p||||2,769.00|59,033.00|62,140.00| |11,000||JP Morgan Asia Grow Ord 25p||||1,815.00|40,040.00|49,555.00| |11,666||M8G Ord 5p||||2,146.54|21,914.58|23,273.67| |3,208||National
Grid Ord 0.113953||||1,635.11|31,996.59|33,998.38| |11,666||Prudential
Ord 5p||||1,682.28|131,534.15|148,683.17| |3,000||Shell Ord 60.07||||2,414.10|69,780.00|48,672.00| |15,000||Scottish Mortgage
Inv Trust||Ord 5p||550.50|108,420.00|200,625.00| |4,000||SSEOrd 50p||||3,428.00|68,480.00|65,960.00| |5,300||Unilever Ord 0.031111p||||7,709.91|221,646.00|209,111.50| |||||||39,348.25||| |4,000||Aberdeen
Mgs Emerging|Markets||Equity Acc|431.93|32,880.80|39,360.80| |Foreign|Equities|||||||| |14,000||Aberdeen
Asian Inc Ord NPV||||1,351.00|30,100.00|32,340.00| |90||Adobe Inc Com US$0.0001||||0.00|25,138.15|37,693.15| |1,200||Alphabet
Inc Cap Stock "C"||||0.00|88,372.83|128,226.92| |800||Amazon
Com Inc$0.01||||0.00|55,774.58|98,505.58| |1,100||Apple Inc NPV||||675.95|118,623,07|144,262.43| |20,000||Australian
Foundation
Inv|NPV|||2,690.42|84,113.20|90,823.69| |550||Becton Dickinson
US$1||||988.35|116,084.99|102,154.41| |700||Boston Properties
Inc US$0.01||||1,865.84|39,262.98|59,547,85| |1,632||Jardine Matheson
Holdings||USD0.25||2,849.06|68,945.35|66,305.99| |340||Meta Platforms
Inc Cl "A"|(formerly||Facebook)|0.00|33,959.08|84,461.99| |740||Microsoft Corp Com||||1,280.88|147,293.69|183,812.64| |2,760||Nestle SF1 Reg||||4,096.93|265,707.97|285,012.88| |900||Paypal
Holdings
Com||||0.00|53,199.98|125,351.37| |359||Pemod Ricard Eur1.55||||946.57|58,527.42|63,809.50| |670||Philip Morris
Int Com NPV||||2,683.12|56,281.45|47,009.90| ## ## ## |||||||||Value at|Value at| |---|---|---|---|---|---|---|---|---|---| ||||||||Income|31/12/22|31/12/21| ||||||||||K| |930|Pinterest Inc Com||CL A||||0.00|18,741|24,967.69| |I;500|Procter 8 Gamble||NPV||||2,705.19|188,687|181,223| |600|Roche Holdings|AG Genusscheine|||NPV||2,920.30|156,618|184,312| |1,700|Verizon Communictions|||Com USD0.10|||3,938.73|55,592|65,239| ||||||||28,992.34|3,161,593.16|3,668,661.34| |Market Value at 31/12/21 or||cost in||year of investments||sold|||0.00| |Cost of|investments
purchased||in 2022||||||431.93| |Adjusted|M/V at 31/12/21||||||||3,669,093.27| |Market Value at 31/12/22|||||||||3,161,593.16| |UNREALISED GAIN/LOSS||IN|2022||||||-507,500.11| ||INVESTMENT|CHANGES in the year|CHANGES in the year|ended 31stDecember 2022|ended 31stDecember 2022|| |---|---|---|---|---|---|---| ||||||Value at|| ||||||31/12/21 or|| |DISPOSALS||||Proceeds|cost in year|Gain/Loss
f| |1/4/22|110Embecta|||2,442.80|0.00|2,442.80| |ACQUISITIONS||||Cost||| |1/4/22|110Embecta Corp||||demerger
from|Becton| |6/6/22|760Amazon||||bonus extra shares|| |18/7/22|1140Alphabet||||bonus extra shares|| |19/7/22|3280GSK Ord 0.3125||||split|| |19/7/22|4100 Haleon Ord 0.01||||demerger
from|GSK| |31/7/22|Aberdeen
Emerging|Markets|Equity Accum|431.93||| ## ## |2022|2021| |---|---| |$|$| |912194.24|1,270918.96| ||||||2022
$|2021
$| |---|---|---|---|---|---|---| |BALANCE AS AT DECEMBER||31ST2022|||912194.24|1,270918.96| |Represented|by:-|||||| ||||||Market Value|Market Value| ||||||31/12/2022|31/12/2021| |Cash balance|||||16,004.41|31,984.96| |Common Stocks|||||857,274.18|1,190,980.00| |Fixed Interest|||||46,005.73|54,254.00| |Creditor||||||| |Hunters|||||-7,090.08|-6,300.00| ||||||912194.24|1 270918.96| ||||//|||| |Approved
by|the Trustees on|||||| |||JC|nor-Miles|||| |||AD|Ge|il||| ||||em or-Miles|||| ||||Priday|||| ## ## |INCOMING RESOURCES||||2022|2021| |---|---|---|---|---|---| |||||$|$| |Transfer from Sterling Section ofTrust||||0.00|204,900.00| |US Common Stocks net income||||2,667.63|714.03| |Non-US Shares net income||||11,177.63|10,648.38| |||||13845.26|216262.41| |RESOURCES EXPENDED|||||| |Direct Charitable
Ex enditure||||64,000.00|67,500.00| |Mana
ement and Administration|Ex||nses||| |Hunters
administration
fees for the year ended 31/12/22||||24,653.99|21,761.41| |Additional
fees paid for 2021||||2,064.55|| |Moss Adams fees for preparing|Federal Return of||||| |Private Foundation
for the year ended|||31/12/21 and handover|3,675.48|2,700.00| |David Orr - independent
investment||advisor||3,000.00|3,000.00| |Pictet Custody fees||||514.08|529.67| |Pictet Admin fees||||8,171.52|8,540.52| |Sundry Bank Charges and interest||||291.45|334.53| |Loss on currency conversion||||0.00|91.67| |||||106371.07|104457.80| |There are no publicity or fund|raising costs||||| |Net Incoming/Outgoing
expenditure|||for the year|-92,525.81|111,804.61| |GAIN/LOSS
ON INVESTMENTS|IN|THE YEAR|||| |Realised||||-30,626.12|2,003.86| |Unrealised||||-235,572.79|120,430.90| |BALANCE B/FWD AT 1STJANUARY|||2022|1,270,918.96|1,036,679.59| |BALANCE AT 31STDECEIIBER31ST2022||||912,194.24|1,270918.96| ## ## ## ||GRANTS||| |---|---|---|---| |||2022|2021| |||$|$| |CONSERVATION
FORGE TRUST for DAPU||7,000|7,000| |3240S.1-10Service Road W Suite 200 Metairie Louisiana 70001-6911|||| |FRIENDS OF COMIIUNITY ANIMAL SERVICES||4,000|3,000| |PO Box7487 Spreckels CA 93962|||| |MIDDLEBURY COLLEGE||15,000|10,000| |460 Pierce Street Monterey
CA 93940|||| |PEACE OF MIND DOG RESCUE||5,000|5,000| |PO Box51554Pacific Grove CA 93950|||| |SAN FRANCISCO ZOOLOGICAL SOCIETY||7,000|7,000| |1 Zoo Road San Francisco CA 94132-1098|||| |SHANTI PROJECT||5,000|4,500| |730 Polk Street San Francisco CA 94019|||| |SPCA FOR MONTEREY COUNTY|||8,000| |PO Box3058 Monterey
CA 93942|||| |SPCA OF WESTCHESTER||5,000|4,000| |590 North State Road Briarcliff Manor NY 10510|||| |VENTANA WILDERNESS SANCTUARY||8,000|7,500| |9699Blue Larkspur
Ln Ste 105, Monterey,|CA 93940||| |WILDLIFE CONSERVATION
SOCIETY||8,000|7,000| |185th St8 Southern
Boulevard
Bronx NY 10460|||| |WONDER DOG RESCUE|||4,500| |2926 16th Street San Francisco CA 94013|||| |||64,000|67,500| ## |||||||Market|| |---|---|---|---|---|---|---|---| |||||||Value at|Gross| ||||||BookValue|31/12/22|Interest| |FIXED INCOME|||||||| |110|Bluebay High|Yield Bond|||40,571.03|46,005.73|0.00| ||||||||Dividends| ||||||||net ofUS tax| |US COMMON STOCKS
1,040
Alphabet
"A"|||||40,519.94|91,759.20|O 30o/o
0.00| |1,100|Amazon||||18,790.34|92,400.00|0.00| |205|Ishares VII-Core||S8P 500 USD ETF||43,070.62|81,198.45|0.00| |1,705|Pfizer||||68,549.91|87,364.20|1,909.60| |300|Procter 8 Gamble||||24,838.46|45,468.00|758.03| ||||||||2,667.63| ||||||||Net offoreign| |NON-US|SHARES||||||tax| |909|Diageo||||25,183.13|39,910.42|813.23| |2,560|Fidelity-Global|Dividend||Y-Ac USD|68,128.11|61,337.60|0.00| |360|Nestle (Swiss|tax|35'/o)||22,115.15|41,688.72|690.83| |1,200|Novartis Reg|(Swiss tax||35'/o)|60,777.33|10S,417.64|2,567.90| |120|Roche Holdings(||Swiss|tax 35'/o)|21,367.38|37,678.34|764.93| |424|Siemens||||68,773.33|58,663.91|1,390.69| |233|Zurich Insurance||||62,982.11|111,387.70|4,950.05| ||||||525,095.81|857,274.18|11,177.63| ## ## |||||Market Value|Market Value||| |---|---|---|---|---|---|---|---| |Disposals||||at|31/12/21|Proceeds|Gain/Loss| |||||||$|$| |16/6/22|678Exact Sciences||||52,769.00|24,785.17|-27,983.83| |17/7/22|122Zurich Insurance||||53,612.30|50,352.28|-3,260.02| ||Zurich capital distribution||||||617.73| ||||||106381.30|75137.45|-30626.12| |Acquisitions|||||Cost||| |3/6/22|Amazon|||||stock split|| |15/?/22|Alphabet|||||stock split|| ||||||||$| ||Market Value of investments|||at 31/12/21|||1,245,234.00| ||Less Market Value at 31/12/21 of investments||||sold||-106,381.30| ||Add cost of investments||purchased||||0.00| ||Adjusted
Market Value|at 31/12/21|||||1,138,852.70| ||Market Value of investments|||at 31/12/22|||903,2?9.91| ||Unrealised
gain/loss|in|2022||||-235,572.79| ## ## ## ## ##