2023-04-05-accounts - The Astor Of Hever Trust

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

THE ASTOR OF HEVER TRUST

Report and Financial Statements

5 April 2023

THE ASTOR OF HEVER TRUST

REPORT AND FINANCIAL STATEMENTS 2023

CONTENTS	Page
Reference and administrative information	1
Trustees’ report	3
Statement of trustees’ responsibilities	6
Independent examiner's report	7
Statement of financial activities	8
Balance sheet	9
Notes to the accounts	10

THE ASTOR OF HEVER TRUST

REPORT AND FINANCIAL STATEMENTS 2023

REFERENCE AND ADMINISTRATIVE INFORMATION

CHARITY NAME

The full name of the charity is The Astor of Hever Trust

TRUSTEES

John Jacob, Third Baron Astor of Hever The Hon Philip Douglas Paul Astor The Hon Camilla Trusted

ADMINISTRATOR

Gill Willis

CHARITY REGISTRATION NUMBER

264134

REGISTERED OFFICE AND OPERATIONAL ADDRESS

Frenchstreet House Westerham Kent TN16 1PW

BANKERS

Barclays Bank plc Sevenoaks Group of Branches 80 High Street Sevenoaks Kent TN13 1LR

INVESTMENT MANAGERS

Rathbone Investment Management Limited 8 Finsbury Circus London EC2M 7AZ

THE ASTOR OF HEVER TRUST

REPORT AND FINANCIAL STATEMENTS 2023

REFERENCE AND ADMINISTRATIVE INFORMATION

SOLICITORS

Forsters 31 Hill Street London W1J 5LS

ACCOUNTANTS

RNS Chartered Accountants The Poplars Bridge Street Brigg North Lincolnshire DN20 8NQ

INDEPENDENT EXAMINER

John Heeney BA (Hons) FCA RNS Chartered Accountants 50-54 Oswald Road Scunthorpe North Lincolnshire DN15 7PQ

THE ASTOR OF HEVER TRUST

TRUSTEES’ REPORT

The trustees present their annual report on the affairs of the charity, together with the financial statements and independent examiner’s report for the year ended 5 April 2023. The financial statements have been prepared in accordance with the accounting policies set out on page 10, and comply with the requirements of the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity was formed as a trust under a trust deed dated 5 July 1955.

Recruitment and appointment by trustees

The trustees during the year and at the date of this report are shown on page 1.

The trust deed allows the continuing trustees to appoint additional trustees.

Trustee induction and training

New trustees would be drawn from the family and would be supported by the experienced family trustees.

Organisational structure

The trustees hold bi-annual trustees’ meetings at which they review the finances of the trust, the investment portfolio and consider and approve grant applications received. The trust uses the services of a self-employed administrator to deal with the day to day running of the trust and the processing of grant payments.

Risk management

The trustees have assessed the major risks to which the trust is exposed, in particular those related to the operations and finances of the trust, and are satisfied that systems are in place to mitigate the exposure to major risks. The trustees have formulated an investment policy to mitigate against investment risks and this is set out on page 5.

OBJECTIVES AND ACTIVITIES

Public benefit

The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities.

Objectives

The trust fund and the income therefrom are held upon trust to apply the same for such charitable purposes as the trustees shall in their absolute discretion think fit.

Activities

The charity aims to achieve its objectives by using the income from the investment portfolio to fund grants in accordance with the policy below.

THE ASTOR OF HEVER TRUST

TRUSTEES’ REPORT (continued)

Grant making policy

When Gavin Astor, 2nd Baron of Hever founded this trust in 1955, his main aim was to ensure donations could be made to charitable bodies in the fields of the arts, medicine, religion, education, conservation, youth and sport. The trustees of today honour these aims and lay particular stress on supporting local youth organisations and generally helping medical research and education programmes. Headquarters and local branches of charities, mainly established organisations, with particular emphasis on Kent are beneficiaries. As from April 2020, the Grampian region in Scotland is no longer a focussed area. In principle donations are not normally given to individuals.

The trust continues to receive very many more requests for donations than can possibly be met. While it remains the policy of the trustees to review as many requests as possible the trustees do give preference to donation requests outlined in a personally written letter which is signed by a representative of the charity.

ACHIEVEMENTS AND PERFORMANCE

During the year the trust received investment income of £31,798 and made grants totalling £23,350 to organisations (see note 11), assisting in a wide variety of causes.

The trustees made no long-term pledge commitments for the year to April 2023 and have supported UK registered charities throughout the year with the focus on Kent continuing.

FINANCIAL REVIEW

The statement of financial activities is set out on page 8.

Investment income at £ 31,798 (2022: £28,152) was £3,646 higher than in the previous year. No donations were received in the year and donations of £23,350 (2022: £23,310) were paid out. The investment portfolio showed total investment losses of £60,929 (2022: gains of £63,934). As at the balance sheet date the charitable fund was valued at £1,168,212 representing a net decrease of £78,450 on the previous year.

The trustees are satisfied that the trust assets are available and adequate to fulfil its obligations.

Investment powers

The trust deed permits the trustees to invest the capital and income of the trust as if they were beneficially entitled.

Investment policy

The investment policy aims for a combination of income and long term capital growth with medium risk through a balanced approach to portfolio management.

The trustees wish to achieve an income level of £35,000 per annum but hope that this can be grown over the medium to long term.

Investments should be held according to the following benchmark: CPI (inflation + 2%) and comparison to the WMA balanced benchmark.

The investment managers are to supply six monthly reviews including a comparison of the portfolio return in relation to the bench mark.

The trustees will review this portfolio statement on an annual basis and will inform the investment managers of any changes in their objectives.

THE ASTOR OF HEVER TRUST

TRUSTEES’ REPORT (continued)

Reserves policy

The original trust deed states that all donations and subscriptions should be made primarily out of income, but the trustees may apply any part of the capital of the trust fund for charitable purposes if in their absolute discretion they consider that for some special reason it is desirable to do so. Not more than 5% of the value of the trust fund was to be so applied in any one year and the capital so applied shall be made good out of the income of the trust fund in future years.

At a meeting of the trustees on 23 January 2023, the trustees approved a statement of reasons and application to the Charity Commission to release the restriction on expenditure of capital pursuant to the provisions of s282 to 284 Charities Act 2011. This was formally approved by the Commission on 7 March 2023. From that date, the trustees may spend the capital of the trust as if it were income. The trustees’ resolution stands as an addition to the trust deeds.

The trustees review the level of income and reserves at six monthly trustees’ meetings and this is taken into account when setting the level of donations to be made by the trust during the forthcoming year.

The trustees consider that the present level of reserves is sufficient for current needs.

The above notes are a summary of the main terms of the settlement currently applicable. The notes should be used only as an aide memoire and not as a substitute for the trust deed itself, the detailed provisions of which should always be reviewed prior to any decisions being taken by the trustees.

PLANS FOR FUTURE PERIODS

The charity will continue to use the income from the investment portfolio to support charitable bodies in the fields of the arts, medicine, religion, education, conservation, youth and sport, particularly in Kent. As from April 2020, the Grampian region of Scotland is no longer a focussed area.

THE ASTOR OF HEVER TRUST

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

United Kingdom law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the incoming resources and application of the resources of the charity during the year and of its state of affairs at the end of that year. In preparing financial statements giving a true and fair view, the trustees should follow best practice and:

select suitable accounting policies and then apply them consistently
make judgements and estimates that are reasonable and prudent
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ascertain its financial position and to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, the Charities SORP (FRS 102) and the trust deed. 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.

Signed on behalf of the trustees on 27 November 2023

Lord Astor of Hever

THE ASTOR OF HEVER TRUST

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF

THE ASTOR OF HEVER TRUST

I report to the charity trustees on my examination of the accounts of the charity for the year ended 5 April 2023 which are set out on pages 8 to 23.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

John Heeney BA (Hons) FCA RNS Chartered Accountants 50-54 Oswald Road Scunthorpe North Lincolnshire DN15 7PQ

13 December 2023

THE ASTOR OF HEVER TRUST

STATEMENT OF FINANCIAL ACTIVITIES Year ended 5 April 2023

Notes
INCOME
Investment income
3/12
Bank interest
TOTAL INCOME
EXPENDITURE
Charitable activities
Donations payable
11
Other expenditure on charitable activities
4
Governance costs
5
TOTAL EXPENDITURE
NET EXPENDITURE for the year
6
OTHER RECOGNISED GAINS
Gains / (losses) on investments held for charitable use
Realised
9
Unrealised
9
TOTAL INVESTMENT GAINS / (LOSSES)
Reconciliation of funds
NET MOVEMENT IN FUNDS
Total funds brought forward at 6 April
Total funds carried forward at 5 April

Unrestricted funds
2023
£
2022
£
31,798
28,152
128
1
31,926
28,153
23,350
23,310
6,243
3,886
19,854
14,810
49,447
42,006
(17,521)
(13,853)
(5,576)
14,155
(55,353)
49,779
(60,929)
63,934
(78,450)
50,081
1,246,662
1,196,581
1,168,212
1,246,662

All activities derive from continuing operations. There are no recognised gains and losses for the current or prior year other than as stated above.

THE ASTOR OF HEVER TRUST

BALANCE SHEET 5 April 2023

Notes FIXED ASSETS Tangible fixed assets for use by the charity 8 Investments 9 CURRENT ASSETS Barclays Bank balances CREDITORS: amounts falling due within one year Accruals NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES UNRESTRICTED FUNDS	£ 22,625 22,625 (3,000) (3,000)	2023 £ 1 1,148,586 1,148,587 19,625 1,168,212 1,168,212	£ 14,673 14,673 (3,000) (3,000)	2022 £ 1 1,234,988 1,234,989 11,673 1,246,662 1,246,662

The financial statements were approved by the trustees on 27 November 2023

Signed on behalf of the trustees

Lord Astor of Hever

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2023

1. ACCOUNTING POLICIES

The charity constitutes a public benefit entity as defined by FRS 102. The accounts have been prepared on the accruals basis, in accordance with applicable accounting standards, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), subject to any limitations due to lack of historical information.

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Basis of Accounting

The financial statements are prepared under the historical cost convention, as modified to include fixed asset investments at market value.

Tangible fixed assets

Depreciation is provided on cost in equal annual instalments over the estimated useful lives of the assets. The rates of depreciation are as follows:

Office equipment 33.3% on cost

Fund accounting

The charity’s funds are general unrestricted funds which represent unrestricted income which is expendable at the discretion of the trustees in the furtherance of the objects of the charity. Such funds may be held in order to finance both working capital and capital investment.

Incoming resources

All income is recognised in the statement of financial activities when the conditions for receipt have been met and there is reasonable assurance of receipt. Where a claim for repayment of income tax has or will be made, such income is grossed up for the tax recoverable.

Donations receivable

Donations receivable are reported gross and include any related tax recoverable.

Investment income

Investment income is accounted for when receivable. Tax recoverable relating to investment income is accounted for in the same period as the related income.

Charitable activities

Charitable activities include all expenditure directly related to the objects of the charity and include the following:

Donations payable

Donations payable are accounted for when the trustees have accepted a legal or moral obligation to make the grant.

Other expenditure on charitable activities

Other expenditure on charitable activities includes all other costs incurred in the administration and running of the charity.

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2023

1. ACCOUNTING POLICIES (continued)

Governance costs

Governance costs comprise those costs associated with meeting the constitutional and statutory requirements of the charity.

Charitable commitments

Commitments which are legally binding on the trustees are accounted for as resources expended in the statement of financial activities. Where the promise of financial support is not binding and the grants are to be wholly financed from future income the commitments are disclosed in a note to the accounts.

2. TAXATION

The trust is a registered charity and does not trade for tax purposes. It is not liable to corporation tax on its surplus derived from charitable activities.

3. INVESTMENT INCOME

3. INVESTMENT INCOME
Income from UK listed investments 4. OTHER EXPENDITURE ON CHARITABLE ACTIVITIES Administrator’s fees and expenses 5. GOVERNANCE COSTS Accountancy fees Independent examiner’s fees Rathbones management fees Legal fees 6. NET EXPENDITURE FOR THE YEAR Net outgoing resources for the year is stated after charging: Independent examiner’s remuneration	Unrestricted Funds 2023 £ 2022 £ 31,798 28,152 2023 £ 2022 £ 6,243 3,886 2023 £ 2022 £ 2,400 2,400 1,200 1,200 10,494 11,210 5,760 - 19,854 14,810 2023 £ 2022 £ 1,200 1,200
		2022 £ 2,400 1,200 11,210 -
		14,810 2022 £ 1,200

7. INFORMATION REGARDING EMPLOYEES AND TRUSTEES

The trust had no employees in the current or previous year.

No trustee or person related or connected by business to them has received any remuneration or reimbursement for expenses from the trust, and there have been no related party transactions during the year.

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2023

8. TANGIBLE FIXED ASSETS FOR USE BY THE CHARITY

Cost
At 5 April 2022
At 5 April 2023
Accumulated depreciation
At 5 April 2022
At 5 April 2023
Net book value
At 5 April 2023
At 5 April 2022
9.
INVESTMENTS HELD AS FIXED ASSETS
Quoted UK stock exchange investments
Market value at 5 April 2022
Additions at cost
Disposal proceeds
Net realised investment gains / (losses)
Net unrealised investment gains / (losses)
Market value at 5 April 2023
Cost at 5 April
Investments comprise the following:
Investments listed on a stock exchange
Cash deposits held as part of investment portfolio

Office
equipment
£
460
460
459
459
1
1
2023
£
2022
£
1,228,143
1,184,759
134,968
263,335
(153,596)
(283,885)
(5,576)
14,155
(55,353)
49,779
1,148,586
1,228,143
1,045,087
1,064,559
1,148,586
1,228,143
15,222
6,845
1,163,808
1,234,988

Investments are revalued at middle market value at the year end.

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2023

9. INVESTMENTS HELD AS FIXED ASSETS (continued)

The investments are detailed below and those exceeding £58,190 (2022: £61,749) individually represent greater than 5% of the investment portfolio value:

Prusik Umbrella Fund Asian Equity Income Polar Capital Global Financials Trust Ordinary Shares Jupiter Strategic Bond Fund Findlay Park American Funds Bluebay Funds Management Global Inv Corp Bond S Link Fund Solutions Trojan Income S Link Fund Solutions Trojan Fund S Jupiter Unit Trust Japan Income Artemis Fund Managers Global Income Aberdeen Standard Fund Mgrs Index Linked Bond HICL Infrastructure River & Mercantile UK Equity Income Link Fund Solutions Gresham Hse M-Cap Inc F Inc Jupiter Unit Trust Managers UK Special Sits IShares PLC Core FTSE 100 Shares Inc T Bailey Fund Managers Evenlode Income Princess Private Equity Holdings T Rowe Price Funds US Large Cap Val Equity (GBP) Rathbone Unit Trust Management High Quality Bond Janus Henderson Investments Strategic Bond Jupiter Asset Mgrs Asian Income1 Acc Treasury ¼% Gilt 31/01/2025 Wisdomtree Metal Secs Ltd Physical Gold (USD) IShares II PLC USD Tips UCITS ETF (GBP) Chrysalis Investments Ltd Ordinary Shares Threadneedle / CT Special US Equity Income L Inc Brown Advisory Funds US Smir C Fund Capital Group EM Total Opps ZGO Fundsmith LLP Equity I Inc Rathbone Unit Trust Man Global Sustainability Greencoat UK Wind plc 1p Ordinary Shares Schroder Inv Man Global Energy Transition Q Inc Rathbones GBP Capital Investment Account Rathbones GBP Income Account	2023 £ 43,661 20,777 54,626 82,507 22,916 70,152 19,632 36,997 63,378 18,344 47,175 - 40,121 80,168 39,891 99,874 23,057 34,267 - 27,561 23,322 29,596 22,687 19,093 6,511 64,092 28,332 - 29,278 26,811 48,153 25,607 10,694 4,528 1,163,808	2022 £ 44,305 25,994 68,719 85,999 - 75,522 20,031 55,742 67,908 21,602 54,572 67,463 30,705 74,918 - 95,680 28,809 26,044 45,017 31,002 - - 20,631 20,561 20,491 64,146 29,593 21,812 28,842 30,528 46,886 24,621 2,560 4,285 1,234,988

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2023

10. CHARITABLE COMMITMENTS

At the balance sheet date no commitments had been made for future grants.

11. DONATIONS PAYABLE

11. DONATIONS PAYABLE
Charity	2023
	£
Alabare Christian Care & Support	500
Asthma & Lung UK	200
Books Beyond Words	250
Brains Matter	500
British Red Cross	300
British Red Cross – Ukraine Crisis Appeal	2,500
Cancer Research UK	1,500
Cancer Research UK – Oxted & Westerham Branch	500
Carers Trust	1,500
Dogs Trust	500
English Springer Spaniel Welfare	250
For Life Thailand	750
Greenhook Fishing (cancelled)	(500)
Hypo Hounds	1,500
King’s Own Scottish Borderers Association	250
Mercy Ships	1,000
Norfolk Churches Trust	1,500
Prostate Cancer	2,000
Rochester Cathedral Trust	1,000
Royal British Legion	300
Royal Hospital Chelsea Appeal	2,000
Royal Marsden Cancer Charity	1,500
Samara’s Aid Appeal	500
Starston Jubilee Hall Trust	500
Team Army Sports Foundation	1,500
The Grange, Epsom	350
War Memorials Trust	500
Wheely Boat Trust	200
	__
Total donations payable as disclosed in statement of financial activities (page 8)	23,350

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2023

12. SCHEDULE OF INVESTMENTS AND INCOME

Prusik Umbrella Fund Asian Equity Income 02/08/2022 Overseas income 13/02/2023 Overseas income Polar Capital GBL Fin Trusts Ordinary Shares 31/08/2022 Dividend 28/02/2023 Dividend Jupiter Strategic Bond Fund Income 30/06/2022 Gross interest 23/08/2022 Sale 30/09/2022 Gross interest 30/12/2022 Gross interest 31/03/2023 Gross interest Findlay Park American Funds		Holding 342.000 342.000 15,436.000 15,436.000 110,854.470 (12,376.470) 98,478.000 627.000 627.000	Book value £ 27,159.56 27,159.56 24,600.00 24,600.00 72,761.74 (8,123.56) 64,638.18 27,974.95 27,974.95	Cost/ (proceeds) £ - - (7,132.56) (7,132.56) -	Profit/(loss) based on cost £ - - (991.00) (991.00) -	Market Value 5 April 2023 £ 43,661.00 20,777.00 54,626.00 82,507.00		Net income £ 973.69 1,195.46
								2,169.15
								370.46 316.44
								686.90
								638.30 736.18 621.69 679.79
								2,675.96

								-

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2023

12. SCHEDULE OF INVESTMENTS AND INCOME (continued)

Bluebay Funds Mgmt Global Corp Bond 15/09/2022 Purchase 07/10/2022 Equalisation 07/10/2022 Gross interest 09/01/2023 Gross interest Link Fund Solutions Trojan Income 03/10/2022 Dividend 31/03/2023 Dividend Link Fund Solutions Trojan Fund 07/04/2022 Dividend 31/03/2023 Dividend Jupiter Unit Trust MGRs Japan Income 24/05/2022 Sale 30/09/2022 Dividend 31/03/2023 Dividend	Holding - 259.000	Book value £ - 23,382.52 (135.20) 23,247.32 73,323.16 73,323.16 14,117.74 14,117.74 52,216.32 (17,107.58) 35,108.74	Cost/ (proceeds) £ 23,382.52 ( 135.20) 23,247.32 - - (17,272.64) (17,272.64)	Profit/(loss) based on cost £ - - - 165.06 165.06	Market Value 5 April 2023 £ 22,916.00 70,152.00 19,632.00 36,997.00	Net income £ 110.61 236.29 346.90 771.92 1,285.47 2,057.39 38.78 98.22 137.00 457.42 449.88 907.30
	259.000
	40,225.005
	40,225.005
	6,236.170
	6,236.170
	51,656.000 (16,924.000)
	34,732.000

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2023

12. SCHEDULE OF INVESTMENTS AND INCOME (continued)

Artemis Fund MGRs Global Income Units 30/09/2022 Dividend 31/03/2023 Dividend Aberdeen Standard Fund Mgrs Gbl Index Linked Bond 30/06/2022 Gross interest 30/09/2022 Gross interest 31/12/2022 Gross interest 31/03/2022 Gross interest HICL Infrastructure Co Ltd 01/07/2022 Gross interest 01/07/2022 Dividend 04/10/2022 Gross interest 04/10/2022 Dividend 30/12/2022 Gross interest 30/12/2022 Dividend 31/03/2023 Gross interest 31/03/2023 Dividend River & Mercantile Asset Man UK Equity Income 25/05/2022 Sale 31/05/2022 Dividend	Holding 60,000.000 60,000.000 35,000.000 35,000.000 30,318.000 30,318.000 12,530.000 (12,530.000) -	Book value £ 49,503.58 49,503.58 19,618.83 19,618.83 47,356.62 47,356.62 57,899.96 (57,899.96) -	Cost/ (proceeds) Profit/(loss) based on cost Market Value 5 April 2023 Net income £ £ £ £ 2,055.30 811.56 - - 63,378.00 2,866.86 179.66 206.12 227.01 183.96 - - 18,344.00 796.75 332.62 294.96 137.40 487.15 199.86 424.69 256.07 368.48 - - 47,175.00 2,501.23 (65,880.23) 7,980.27 939.09 (65,880.23) 7,980.27 - 939.09

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2023

12. SCHEDULE OF INVESTMENTS AND INCOME (continued)

Book value £ 30,791.34 12,045.99 (89.85) (69.93) 42,677.55 71,002.11	Cost/ (proceeds) £ 12,045.99 (89.85) (69.93) 11,886.21	Profit/(loss) based on cost £ - - -	Market Value 5 April 2023 £ 40,121.00 80,168.00 39,891.00


71,002.11	-	-	80,168.00
- 38,264.57	38,264.57
38,264.57	38,264.57	-	39,891.00

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2023

12. SCHEDULE OF INVESTMENTS AND INCOME (continued)

T Bailey Fund Mgrs Evenlode Income C 03/05/2022 Dividend 29/07/2022 Dividend 31/10/2022 Dividend 01/02/2023 Dividend Princess Private Equity Holdings Ordinary Shares 12/05/2022 Overseas income T Rowe Price Funds US Large Cap Val Equity 24/05/2022 Purchase Rathbone Unit Trust Mgmt High Quality Bond S Dist 22/04/2022 Sale 30/06/2022 Gross interest 30/09/2022 Gross interest 06/10/2022 Sale	Holding 39,156.970 39,156.970 2,823.000 2,823.000 2,266.670 809.330 3,076.000 47,748.000 (8,844.000) (38,904.000) -	Book value £ 83,895.56 83,895.56 32,778.80 32,778.80 22,471.00 9,048.31 31,519.31 48,346.26 (8,954.81) (39,391.45) -	Cost/ (proceeds) £ - - 9,048.31 9,048.31 (8,301.87) (32,741.61) (41,043.48)	Profit/(loss) based on cost £ - - - (652.94) (6,649.84) (7,302.78)	Market Value 5 April 2023 £ 99,874.00 23,057.00 34,267.00 -	Net income £ 768.14 629.29 629.37 629.67 2,656.47 901.03 901.03 - 237.31 248.99 486.30

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2023

12. SCHEDULE OF INVESTMENTS AND INCOME (continued)

Janus Henderson Investments Strategic Bond 31/05/2022 Gross interest 31/08/2022 Gross interest 30/11/2022 Gross interest 28/02/2023 Gross interest 10/03/2023 Conversion 10/03/2023 Conversion Jupiter Unit Trust Mgrs Asian Income U1 Inc 24/05/2022 Purchase 31/08/2022 Equalisation 31/08/2022 Dividend 30/11/2022 Dividend 28/02/2023 Dividend Treasury ¼% Gilt 31/01/2025 04/10/2022 Purchase 31/01/2023 Gross interest Wisdomtree Metal Secs Ltd Physical Gold (USD)	Holding 23,275.000 (23,275.000) 24,520.340 24,520.340 - 14,733.000 14,733.000 - 31,527.000 31,527.000 149.000 149.000	Book value £ 32,057.58 (32,057.58) 32,057.58 32,057.58 - 23,609.63 (72.88) 23,536.75 - 28,616.79 28,616.79 17,357.38 17,357.38	Cost/ (proceeds) £ - 23,609.63 (72.88) 23,536.75 28,616.79x 28,616.79 -	Profit/(loss) based on cost £ - - - -	Market Value 5 April 2023 £ 27,561.00 23,322.00 29,596.00 22,687.00	Net income £ 253.67 253.79 186.81 238.69 932.96 203.77 384.05 181.14 768.96 39.41x 39.41x -

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2023

12. SCHEDULE OF INVESTMENTS AND INCOME (continued)

I Shares II plc USD TIPS UCITS ETF 25/05/2022 Gross interest 05/09/2022 Gross interest 30/11/2022 Gross interest 28/02/2023 Gross interest Chrysalis Investments Ltd Ordinary Shares Threadneedle / CT Special Inv US Equity Income L Inc 30/06/2022 Dividend 30/09/2022 Dividend 30/12/2022 Dividend 31/03/2023 Dividend Brown Advisory Funds US Smir Cos C Fund Capital Group EM Total Opps ZGD 27/04/2022 Overseas income 18/07/2022 Overseas income 15/09/2022 Sale	Holding 3,795.000 3,795.000 11,564.000 11,564.000 18,664.000 18,664.000 1,274.000 1,274.000 2,889.000 (2,889.000) -	Book value £ 21,396.97 21,396.97 23,706.20 23,706.20 48,170.51 48,170.51 31,391.82 31,391.82 22,595.44 (22,595.44) -	Cost/ (proceeds) £ - - - - (21,898.62) (21,898.62)	Profit/(loss) based on cost £ - - - - (696.82) (696.82)	Market Value 5 April 2023 £ 19,093.00 6,511.00 64,092.00 28,332.00 -	Net income £ 49.71 61.48 68.31 46.30 225.80 - 329.94 364.15 410.09 394.93 1,499.11 - 218.70 301.32 520.02

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2023

12. SCHEDULE OF INVESTMENTS AND INCOME (continued)

Fundsmith LLP Equity I Inc 31/08/2022 Dividend 28/02/2023 Dividend Rathbone Unit Trust Mgmt Global Sustainability S Ins 30/06/2022 Dividend 31/12/2022 Dividend Greencoat UK Wind plc 1p Ordinary Shares 27/05/2022 Dividend 26/08/2022 Dividend 26/11/2022 Dividend 24/02/2023 Dividend	Holding 5,172.000 5,172.000 21,485.000 21,485.000 30,152.000 30,152.000	Book value £ 21,704.68 21,704.68 27,701.26 27,701.26 39,520.65 39,520.65	Cost/ (proceeds) £ - - -	Profit/(loss) based on cost £ - - -	Market Value 5 April 2023 £ 29,278.00 26,811.00 48,153.00	Net income £ 22.22 53.18 75.40 143.95 128.91 272.86 581.93 581.93 581.93 581.93 2,327.72

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2023

12. SCHEDULE OF INVESTMENTS AND INCOME (continued)

Schroder Inv Man Global Energy Transition Q Inc 01/09/2022 Dividend	Holding Book value £ 47,175.000 23,139.34 47,175.000 23,139.34 1,045,086.51	Cost/ (proceeds) £ - (18,627.58)	Profit/(loss) based on cost £ - (845.27)	Market Value 5 April 2023 £ 25,607.00 1,148,586.00	Net income £ 138.13 138.13 31,798.25