SYLVANUS CHARITABLE TRUST
ACCOUNTS
for tho year ended 31st Decembèr 2023
HUNTERS LAW LLP
9 New Square
Lincoln's Inn
London
WC2A 3QN
WVM.35492-1

SYLVANUS CHARITABLE TRUST
ACCOUNTS for the year ended 31ST DECEMBER 2023
Cont•nts
Page
Independent examinerfs report
Trustees, Report
Sterting Section Balance sheet
Sterling Section Statement of Financial Activities
Sterling Section Donations
Sterling Section Investments and Investment Changes
9-10
Dollar Seclion Balance Sheet
Dollar Section Statement of Financial Activities
12
Dollar Section Grants
13
Dollar Section Investrnents and Investment Changes
14-15
Notes to the Accounts
16

Indèpendent Examiners Rèport to the Trustees of Sylvanu5 Charltable Trust
I report on tho accounts of tho Trust for the yoar énded 31 Docgmber 2023
Respediva responsibililies of trustees and ex8miner
The ¢harity's truste8s are responsible for the preparation of the a¢counts. The charity's
trustees considerthat an audit is not required forthis year under section 144(21 of the Charities
Act 2011 (the 2011 Act) and that an independent examination 15 needed.
It Is my reapvfisibiihiy to:
examine the accounts under seclion 145 ofthe 2011 Act-
to follow the procedu￿$ laid down in the General Directlons given by the Charity
Cgmmissioner under section 144f4)Ib) of the ?n11 Act... and
to state whether partlcular matters have Come to my attention.
B8sis of independent examiner's report
My examination was carried out in accordance with the General Directions given by the
Charity Commissioner. An examination indudes a review of the accounting records kept by
the charity and a comparison of the accounts presented with those records. It also includes
nsideration of any unusual items or disclosures in the accounts, and the seeking of
explanations from you as trustees concerning any such matters. The Pro￿dureS undertaken
do not provide all the evidence that would be required in an audit and, consequentty no opinion
is givèn as to whether the accounts present a Irue and fair view. and the report is limited to
those matters set out in the slat8m8nt below.
Independent 8X8min8rs statement
In connection with my pxamination, no mattKtr hAR to my attention..
which gives me reasonable cause to believe that, in any material respect, the
requirements:
(a)
(bl
to keep accounting records in accordance with section 130 of the 2011 Act,. and
to prepare accounts which accord with the accounting records and to comply wbth
the accounting requirements of the 2011 Act have not beon met., or
to which, in my opinion. attention should be drawn in order to enable a proper
understanding of the accounts to be reached.
Colin Reid FCA
Burgess Hodgson LLP
27 New Dover Road
Canterbury
Kent
CT13DN
September 2024

SYLVANUS CHARITABLE TRUST
Report of the Trustees for the year ended 31 December 2023
The Trustees present their report and the unaudited financial statements of the charity for the year
ended 31 December 2023. The Financial Statements comply with the statutory requirements, the
goveming document and the Financial Reporting Standard applicable in the UK and Republic of
Ireland (FRS 102} (Charities SORP {FRS 102)).
OBJECTIVES AND ACTIVITIES
The charity's objectives as defined in the goveming document give the Trustees absolute discretion to
apply money for any charitable purposes but express the hope Ihat the Trustees will give pnority to
beneficiaries whose charitable purposes are the welfare of and the prevention of cruelty to animals and
the advan￿ment of the tradrtional teachings and practices of the Roman Catholic Church as these
were taught to and accepted by Catholics before the Second Vatican Council. ￿ere possible it is the
Trustees, policy to continue to support charities that were supported by the Founder during her lifetime.
Due to the volume of applications received, it is the policy of the Trustees not to respond to unsolicited
applications. The Trustees support a number of organizations on a regular basis and in practice find
that their ine.ome is fully committe.d and therp is littlp. rf any, qijmliis incnme. availahle for di8tribLltinn in
response to unsolicited appeals. As the Trust makes substantial donations to charities in the USA the
Trust is divided into Iwo sections, one invested primarily in Europe {'Ihe Sterling Section") and the
other primarily in USA ("the Dollar Section"). This is designed to enable the Trustees to maintain the
leiiel of e￿aritable support despite currep.ny fluctuations.
PubliG Benefit Statement
The Trustees have referred to the Charity Commission's general guidance on public benefit when
471
reviewing their aims and objectives and in planning future activities as reqdired undsr Sskniivn i i K5J of
the Charities Act 2011.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
In both Sections donations have been made to animal welfare organizations worldwide. In the Sterling
Section a donation of £12,000 was made to the Society of St Plus X which is a Catholic organization
supporting the traditional teachings of the Roman Catholic Church, a charty supported by the Founder
during her lifetime. In the Dollar Section a donation of $15,000 was given to Micidiebury College of
Intemational Studies (also supported by Ihe Founder during her lifetime) to fund student scholarships.
Inveslm8nt perforniance
The chanty's investment policy and objectives are fornally agreed by the Trustees annually. The
Trustees are advised by professional fund managers. The charity holds no investment properties. Its
funds are held in investments.
In the Sterling Section sales of investments raised £52.047 producing a gain of £10,177 and
investments were purchased for a total of £205,196. The annual revaluation saw a gain of
£129,406.92. At 31st December 2023 the investments in the Sterling Section were in the following
sectors..
2023
316,802
1 083,¥a i
2,053,593
111,829
£3,666.155
2022
306,383
i¥4, 187
1,661,023
277,212
£3.438,805
UK fixed interest
UK listed eqi5ities
Overseas listed equities
Cash
Total financial investments
8.88%
30.39%
57.59%
8.910
48.30%
8.060/0
100%
100%
In the Dollar Section sales of investments raised $86,285 producing a loss of $17,038. There were no
purchases and the annual revaluation saw a gain of $193,891. At 31st December 2023 the
invp.81mpnt8 in the. Dnllar 8p.rtion wprp in thg. fnllowino ser.tors'

2023
52,622
430,415
510,810
4,226
$998,073
2022
46,005
398,189
459,084
8,914
$912,194
Fixed income
US Shares
Non-us Shares
Cash
Total financial investments
5.270
43.130
5.040
43.65%
50.33%
0.980
1 OOOA
100°1ty
FINANCIAL REVIEW
Financial position
In the Sterling Section the ¢harty's funds increased by £127,350.17 from £3,438,805.39 to
£3,566,155.56. In the Dollar Section thè charity's funds increased by $85,879.57 from $912,194.24 to
$998,073.81. All income re￿iVed is from investments. The income in the Sterling Section increased
marginally from £83,724.73 to £89.778.45. In the Dollar Section the income decreased from
$13,845.26 to $12,401.07.
Investment policy
The charity's governing document placr*S no restrintions on the discretion of the Truste•s in investing
the charity's assets. In practice, with the advice of their investmenl advisers, the Trustees try to
achieve a balanced retum in the long temi be￿een accumulated income and capital appreciation.
Reserves Dolicy
The Trustees have power under the governing document to apply income and capital for the Trust's
objectives. The Trustees aim to distribute the income and build up the capital content as unrestricted
reserves. In practice. Ihey have been distributing capital as well as income from the Dollar Section for
soiiie years. The reserves at thè year-eiid wei¥ La.566m ILQ£2". £3.438ml in th¥ Sterling Section of
the Trust and $998.07312022.. $912,194) in the Dollar Section of the Trust. The charity holds SLrfficient
reserves to continue its objectives.
FUTURE PLANS
The charity intends to continue its existing work.
STRUCTURE GOVERNMENT AND MANAGEMENT
The goveming document is a Deed of Settlement dated 1 st December 1968. The Trust is a registered
Gharity in the United Kingdom and is also registered with the Uniled States Internal Revenue Service
as a 501(¢){3) Tax Exempt Organisation. In accordan￿ with United States Law, Trust Tax Returns
are filed with the Intemal Revenue SeNice.
Induction and training of new trustees
The Trust Deed provides for a minimum of two trustees and any new Trustee would be appointed by
the remaining trustees. They would be provided with a copy of the charity's governing documents,
annual report and financial statements for the previous three years, together with the minutes of the
trustees, meetings for the samè period and the Charity Commission documents relaling to the
responsibilities of charity trustees.
Risk Management
The principle risk faced by the Trust lies in the perfomiance of investments. This is mitigated by
retaining expert investment managers and having a diversified investment portfolio. At Trustees,
meetiyris 2fj11 einnifitsp p.t risk¢ of the TrLlSt are discussed. Where appropriate, risks are reported on and
discussed in subsequent meetings. The Trustees Consider that they have established sufficient
systems and procedures to mitigate those risks.
Related party transactlons
The Charity has no subsidiaries and is not connected with any other charity. None of the Trustees was
paid remuneration or expenses for the year. Mr W E Vernor-miles is a partner in the firm of Hunters
Law LLP who act in the administratlon of the charity. Hunters r8C8ived fees of £18,501.50 plus VAT for
Ihis work in the year from the oterii119 C*ecliuii (2022.. £21,?OOj ar)d $24,454 fioin Ihe Dolldl SeGtiun
{2022. $24,654).

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charlty Number..
259520
Princlpal addres8
clo Hunters Law LLP, 9 New Square, Lincoln's Inn, London WC2A 3QN
Trustees
John Crosfield Vernor-miles
Alexander David Gemmill
Wilfrid Edward Vernor-miles
Matthew James Priday
Bankers
CAF Bank Ltd, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ
Pl￿et et Cie, Route des Acacias 60, 1211 Geneva 73, Switzerland
Solicitors
Hunters Law LLP, 9 N8w Square, Lincoln's Inn. London WC2A 3QN
Invostment Managers for Sterling Sectlon
Raymond James, 1 King William Street, London EC4N 7AF
Investment Managers for Dollar Section
Pictet et Cie, Route des Acacias 60, 1211 Geneva 73, Switzerland
Independent Examlner
Colin Reid FCA, Burgess Hodgson LLP, 27 New Dover Road, Canterbury, Kent, CT13DN
Accountants In USA
McGilloway Ray Brovm & KaLrfman, 379 W. Market, Salinas, Califomia 93901 USA
STATEMENT OF TRUSTEES RESPONSIBILITIES
The charity's Trustees are responsible for preparing th8 Trustees Annual Report and the financial
statèments in accordance with applicable law and regulations.
Th8 law applicable to charities in England and Wales requires the Trustees to prepare financial
statements for each financial year. Under the law the Trustees have elected to prepare the financial
statements in accordance with United Kingdom Generally A¢￿pted Accounting Practice (United
Kingdom Accounting Standards and applicable law). Under company law the Trustees must not
approve the financial statements unless they are satisfied that they give a true and fair view of the state
of affairs of the charity and the income and expenditure of the ¢harity for that period.
In preparing these financial statements the Trustees are requir8d to'.-
Select suitable accounting policies and then apply them consistently
observe the methods and principles in the Charities SORP
make judgments and estimates that are reasonable and prudent
state whether applicable accounting standards and stalements have been followed subjed to
any material departures disclosed and explained in the financial statements
prepare the financial statements on the going concem basis unless it is inappropriate to
presume that the charity will continue in business.

The Trustees are responsible for keeping accounting records that are SLrfi¢ient to show and explain
the ¢harity's transactions and disclose with reasonable accura￿ at any time the financial position of
thè charity and enable them to ensure that the financial statements comply with the Charities Act 2011
and the Charity {A¢counts and Reports) Regulations 2008. They are also responsible for safeguarding
the assets of the charity and hence for taking reasonable steps for the prevention and detection of
fraud and other irregularities.
Approved by the Trustees and signed on their behalf by Wilfrid Vernor-miles
Trustee

SYLVANUS CHARITABLE TRUST
STERLING SECTION
BALANLE SHEET as at 31st December 2023
2023
2022
UNRESTRICTED FUNDS
3,565,140.56
3,438,805.39
There are no restricted or endowment funds
represented by.."
INVESTMENTS at Market Value
3,454,326.52
3,161,593.16
CASH BALANCES
Raymond James
($5796.57)
39,330.05
4,550.97
7n,980 n3
938.79
123,476.62
4,811.03
154,R63.79
938.79
rAF Ban!!
Hunters
Creditor
Hunters
Burgess Hodgson
-3.979.80
-1,015.00
3.565,140.56
-6,678.00
3,438,805.39
Approved by the Trustees on 26th June 2024
and signed on their behalf by
Wilfrid Vernor-miles
Truslee

SYLVANUS CHARITABLE TRUST
STERLING SECTION
STATEMEN I OF FINANCIAL ACTIVITIES
for the year ended 31st December 2023
INCOMING RESOURCES
2023
2022
Fixed Interest (gross)
UK Dividends
Unit Trust Accumulation Units
UK Property Income Distributions
Overseas Dividends
AdjLt8tment to Roche dividends ?021
Bank interest
Gain on currency Conversion
14,381.94
42,077.10
0.00
0.00
31,899.87
000
1,419.54
0.00
89,778.45
14,261.71
38,396.25
431.93
952.00
28,992.34
141.18
529.86
83,724.73
RESOURCES EXPENDED
table Ex
i+
Donations
59,000.00
55,500.00
Mana
ement and Administration Ex
enditure
Hunters fees and disbursements for 2023 inc VAT
G Taviner fee for 2023
Burgess Hodgson Independent Examination fee 2022 alcs
-dgscr. lrydependent Examip.aticY ,ce 2023 3Jcs
Raymond James fees
Trustees meeling expenses
Trustee travel expenses
Bank fees
Loss on currency convèrsion
22,201.80
5,000.00
1,104.00
24.180.00
5,000.00
1,002.00
13,860.89
414.84
30.40
140.25
260.06
103,027.24
14,329.17
579.94
0.00
163.00
100,754.11
There arc no publiclty or fund raising costs
Net In¢omelOutgoing Resources in year
-13,248.79
-17,029.38
GAINILOSS ON INVESTMENTS IN THE YEAR
Realised
Unrealised
10,177.04
129,406.92
2,442.80
-507,500.11
BALANCE BIFWD AT 1 ST JANUARY 2023
3.438,805.39
3,960,892.08
BALANCE at 31st December 2023
2 585,4Jn Ke
7 429 ons.39

SYLVANUS CHARITABLE TRUST
STERLING SECTION
DONATIONS made In the year ended 31st December 2023
2023
2022
Cheque No
117
Bom Free Foundation
4,000
5.000
118
Curly Tails
4,000
3,000
Environmental Investigation Agency
1,500
transfer Fauna & Flora International
3,000
transfer Free the Bears UK
5,000
5,000
119
Freshfields Animal Rescue
2,000
120
Help in Suffering (UK)
2,000
2,000
transfer Mauritian Wildlife Foundation (Mauritius)
7.000
7.000
121
Mayhew Hom&
2.000
2,000
transfer Reef Conservation (Mauritius)
2,000
2,000
116
Royal Veterinary College Animal Care Trust
6,000
5,000
Safe Haven for Donkeys
2,000
transfer Society of St Plus X (Switzerland)
12,000
12,000
122
World Veterinary Servi
3,000
3,000
tranfer Zimbabwe NSPCA (Zimbabwe)
7,000
6,000
59,000
55.500

SYLVANUS CHARITABLE TRUST
STERLING SECTION
INVESTMENTS held at 31st December 2023
Value at
31112123
Value at
3111 Z122
Income
Fixed Interest
$200,000 Tesco 6.15% 15111137
£43,500 UK Treasury 4.125¥0 IIL 221112030
9,763.90
4,618.04
14,381.94
164,146.19
152,655.70
160,157.70
146,225.25
UK Equitlos
18,000
BP US$O.25
1,550
British American Toba¢¢o Ord 25p
2,000
Derwent London Ord 5p
1,700
Diag80 Ord 0.28 1011108p
2,600
Ex￿rIan Ord US$O.10
3,280
GSK Ord 0.3125p
4,100
Haleon Ord 0.01 p
1,400
Imperial Brands Ord 10p
130,000 Lloyds Banking Group Ord 1 p
11,666
M&G Ord 5p
3,208
National Grid Ord 0.113953
11,666
Prudential Ord 5p
15.000
Scottish Mortgage Inv Trust Ord 5p
3,000
Shell Ord É0.07
4,000
SSE Ord 50p
5,300
Unilever Ord 0.031111p
4,019.08
3,527.95
1,328.00
1,360.00
1,133.55
1,820.40
172.20
2,020.48
3,276.00
2,321.53
1,778.50
1,821.71
615.00
2,985.90
3,868.00
7,955.30
40 003.60
83,907.00
35,580.25
47,200.00
48,552.00
83,252.00
47.566.56
13,187.65
25,291.00
62,023.00
25.945.18
33,940.64
103,500.75
121,200.00
77,145.00
74,240.00
201,400.00
85,482.00
50.863.25
47,360.00
62,050.00
73,138.00
47,153.28
13,421.35
28,994.00
59,033.00
21,914.58
31,996.59
131,534.15
108,420.00
69.780.00
68,480.00
221,646.00
4,000
Aberdeen Mgs Emerging Markets Equity Acc
0.00
0.00
32,880.80
Foreign Equities
21,700
Aberdeen Asian Inc Ord NPV
140
Adobe Inc Com US$O.0001
1,200
Alphabel Inc Cap Stock "C"
800
Amazon Com Inc$O.01
1.100
Apple Inc NPV
20,000
Australian Foundation Inv NPV
550
Becton Dickinson US$1
1,869.00
0.00
o.oo
0.00
708.00
2,650.13
1,361.67
45,136.00
30,100.00
65,575.88
25.138.15
132,775.38
88,372.83
95,432.21
55,774.58
168,273.85 118,623.07
79.753.78
84,113.20
105,288.92
116,084.99
tF_41J
1,000
1.632
15,500
60
130
250
740
2,760
900
Boslon Properties Inc US$O.01
Jardine Matheson Holdings USDO.25
JP Morgan Asia Growth Ord 25p
LVMH Moet Hennessy EurO.30
L'oreal EurO.20
Meta Platforms Inc Cl "A" (fonnerly Fa￿bOOk)
Microsoft Corp Com
Nestle SF1 Reg
Paypal Holdings Com
2,249.00
2.839.67
2,073.50
210.14
0.00
0.00
1,397.88
4,730.65
0.00
55,091.47
39,262.98
52,802.64
68,945.35
52,700.00
40,040.00
38,140.46
0.00
50,764.26
0.00
69,474.76
33,959.08
218,473.42 147,293.69
250,829.58
265,707.97
43,392.48
53,199.98

SYLVANUS CHARITABLE TRUST
STERLING SECTION
INVESTMENTS held at 31st December 2023 Gont'd
Value at
31112123
Value at
3111 Z122
Income
359
670
930
1,500
600
110
1,700
Pemod Ricard Eur1.55
Philip Morris Int Com NPV
Pinterest Inc Com CL A
Procter & Gamble NPV
Roche Holdings AG Genusscheine NPV
Thermo Fisher Scie Com USD1
Verizon Communictions Com USDO.10
1,079.86
49,694.77
58,527.42
2,713.91
49,488.58
56.281.45
0.00
27,044.99
18.741.25
3,798.37
172,575.96
188,687.39
3,253.64
136,725.85
156,617.85
26.53
45,840.39
0.00
3,011.42
50,317.97
55.591.98
31,899.87 3,454,326.52 3,161,593.16
Market Value at 31112122 or cost in year of investments sold
41,869.97
Cost of investments purchased in 2023
Adjusted MIV at 31112122
Market Value at 31112123
205,196.41
3,324,919.60
3,454,326.52
Unrealised gainlloss In 2023
129,406.92
INVESTMENT CHANGES in the year ended 31st December 2023
Value at
31112122 or
cost in year
Dl8posals
Proceeds
GainlLoss
1616123
1616123
90 Mela Plalfoms USDO.000006
4000 Aberde8n Emerging Markets Equity Acc
19.305.11
32,741.90
52,047.01
8.989.17
32,880.80
41.869.97
10,315.94
-138.90
10,177.04
Acquisitions
C¢)st
1616123
1616123
1616123
1616123
1616123
1616123
1616123
7700 Aberdeen Asian Income NPV
4500 JP Morgan Asia Growth 25p
60 LVMH Moet Hennessy EurO.30
110 Themio Fisher scien￿ USD1
130 L'oreal Eur 0.20
300 Boston Pptys USDO.01
50 Adobe USDO.0001
16,384.38
16,400.46
45.249.75
46,695.50
47,136.39
13,178.39
20 151.54
205,196.41
10

SYLVANUS CHARITABLE TRUST
DOLLAR SECTION
BALANCE SHEET as at December 31st 2023
based on UK Charity Commission requirements
2023
2022
BALANCE AS AT DECEMBER 31ST 2023
998,073.81
912,194.24
Represented by:"
Market Va,ue M3rke+ Valu
3111212023
3111212022
Cash balance
8,475.09
16,004.41
Common Stocks
941.225.46
857,274.18
Fixed Interest
52,62177
46.005.73
Credltor
Hunters
4,248.51
-7,090.08
998 073.81
912 194.24
Approved by the Trustees on 26th June 2024
and signed on their behalf by
Wilfrld Vernor-miles
Trustee
11

SYLVANUS CHARITABLE TRUST
DOLLAR SECTION
STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31st December 2023
based on UK Charity Commission requlrements
INCOMING RESOURCES
2023
2022
US Common Stocks net income
Non-us Shares net income
Refund
Gain on currency Conversion
1,763.10
10.548.44
54.56
34.97
12,401.07
2,667.63
11,177.63
13 845.26
RESOURCES EXPENDED
Direct Charitable Ex
enditure
66.000.00
64,000.00
Mana
ement and Administration Ex
nses
Hunters administralion fees for the year ended 31112123
Additional fees paid for 2021
24,453.86
0.00
24,653.99
2,064.55
McGilloway, Ray, Browm & KaLrfman preparation of retum for
Private Foundation for the year ended 31112122
Tax paid
David Orr - independent investment advisor
Pictet Custody fees
Pictet Admin fees
Sundry Bank Charges and interest
1,125.00
50.00
3,000.00
472.85
7,798.68
474.06
103,374.45
3,675.48
3,000.00
514.08
8,171.52
291.45
106,371.07
There are no publlclty or fund ra181ng costs
Net In¢ominglOutgoing expenditure for tho year
-90,973.38
-92,525.81
GAINILOSS ON INVESTMENTS IN THE YEAR
Realised
Unrealis8d
-17,038.57
193,891.52
-30,626.12
-235,572.79
BALANCE BIFWD AT 1 ST JANUARY 2023
912,194.24 1,270,918.96
BALANCE AT 31ST DECEMBER 31ST 2023
998,073.81
912,194.24
12

SYLVANUS CHARITABLE TRUST
DOLLAR SECTION
DONATIONS made in the year ended 31st December 2023
2023
2022
CONSERVATION FORCE TRUST for DAPU
3240 S.1-10 Service Road W Suite 200 Metairie Louisiana 70001ffj911
7,000
7,000
FRIENDS OF COMMUNITY ANIMAL SERVICES
PO Box 7487 Spreckels CA 93962
4,000
4,000
MIDDLEBURY COLLEGE
460 Pierce Street Monterey CA 93940
15.000
15,000
MurrviLLE
255 Alabama Street San Francisco CA 94103
2,000
PEACE OF MIND DOG RESCUE
PO Box 51554 Pa¢ifi¢ Grove CA 93950
5,000
5,000
SAN FRANCISCO ZOOLOGICAL SOCIETY
1 Zoo Road San Francisco CA 94132-1098
7,000
7,000
SHANTI PROJECT
730 Polk Street San Francisco CA 94019
5,000
5,000
SPCA OF WESTCHESTER
590 North State Road Briardiff Manor NY 10510
5,000
5,000
VENTANA WILDERNESS SANCTUARY
9699 Blue Larkspur Ln Ste 105, Monterey, CA 93940
8,000
8,000
LDLIFE CONSERVATION SOCIETY
185th St & Southem Boulevard Bronx NY 10460
8,000
8,000
66,000
64,000
13

SYLVANUS CHARITABLE TRUST
DOLLAR SECTION
INVESTMENTS held at 31$t December 2023
Value at
31112123
Value at
31112122
Income
FIXED INCOME
110
Bluebay High Yield Bond
0.00
52,621.77
46,005.73
Net of US
tax
30%
0.00
0.00
0.00
978.66
784.44
1,763.10
US COMMON STOCKS
1,040 Alphabet "A"
910
Amazon
205
Ishares Vll-core S&P 500 USD ETF
1,705 Pfizer
300
Procter & Gamble
145,277.60
138,265.40
102,910.00
0.00
43,962.00
91,759.20
92,400.00
81,198.45
87,364.20
45,468.00
Net of
foreign lax
885.65
0.00
764.67
2,681.68
787.79
0.00
1,400.43
4,028.22
10,548.44
NON-US SHARES
909
Diageo
2,560 Fidelity-Global Dividend Y-AC USD
360
Nestle (Swiss tax 350A}
1.200 Novartis Reg (Swiss tax 350/¥)
120
Roche Holdings{ Swiss tax 35%)
240
Sandoz Group
424
Siemens
233
Zurich Insurance
33,095.13
39,910.42
71,142.40
61,337.60
41.708.07
41,688.72
121,005.17
108,417.64
34,860.10
37,678.34
7,716.27
0.00
79,585.70
58,663.91
121,697.62 111,387.70
993,847.23 903,279.91
Less Markel Value at 31112122 of investments sold
Add cost of investments purchased
Adjusted Market Value at 31112122
Market Value of investments at 31112123
103,324.20
0.00
799,955.71
993,847.23
Unreallsed galnlloss In 2023
193,891.52
14

SYLVANUS CHARITABLE TRUST
DOLLAR SECTION
INVESTMENT CHANGES In the year ended 31st December 2023
Market
Valuè at
31112122
Disposals
Proceed$
GalnlLoss
14n123
17n123
1705 Pfizer
190 Amazon
61,101.91
25,183.72
87,364.20 -26,262.29
15,960.00
9,223.72
86,285.63 103,324.20
-17,038.57
Acquisltlons
6110123
240 Sandoz
Cost
from Novartis
15

SYLVANUS CHARITABLE TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
BASIS OF ACCOUNTING
These financial statements have been prepared in Complian￿ with FRS 102, 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of
Recommended Practice applicable to Charities preparsng their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (Chariti8s
SORP {FRS 102}) and the Charities Act 2011.
In the Accounts historical cost accounting rules have been applied in all instances ex￿p1 for the
valualion of investments. All investments a￿ carried at their fair value. Investments in equities
and fixed interest are all traded in quoted public markets. Holdings in Common investment funds,
unit trusts and open*nded investment companies are at the bid price. The basis of fair value for
quoted investments is equivalent to the market value, using the bid price. Asset sales and
purchases are recognized at the date of trade at cost (that is their transaction value).
The Sterting and Dollar Sections are not consolidated into one primary statement on the basis that
they are separately managed and the individual Sections provide adequate infomiation on the
charity's activities.
Staff costs
The average head count of employees during the year was 012022.. Nil). No employee received
employee benefits of more than £60,000 during the year (2022.. Nil). This employee and key
management personnel figure does not include the Trustees appointed and in position during th8
year.
Trustee remuneratlon and expense$
No remuneration, benefits or expenses were paid to the Trustees of the Charity in the current or
previous year save that Mr J C Vernor-miles was reimbursed travel expenses for attending the
Trustees meeting (2022: Nil).
Judgements and estimation uncartalnty
The preparation of the financial statements requires management to make judgements. estimates
and assumptions that affect the amounts reported. Accounting estimates and assumptions are
made conceming the futur8, including expectations of future events that are believed to be
reasonable under the Gircumstances.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the
Contradual arrangements entered into.
Debtors and Creditors with no stated interest rate receivable or payable within one year are
recorded at transaction pri￿. Any losses arising from impairment are recognised in the profit and
loss account in other administrative expenses.
Loans and borrowings ar8 initially reGogni$ed at transaction price including transaGtion costs.
Subsequently, they are measured at amortised cost using the effective interest rate method, less
impairment. If an arrangement constitLrtes a finance transaction it 1$ measured at present value.
INCOME
The Trust income is derived solely from its investment portfolio. The Trust is not involved in fund-
raising or publicity.
18