## **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 1 **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 2 **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. 3 **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. 4 **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. 5 **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 6 **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 7 **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. 8 **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 9 **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. 10 **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. 11 ## **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. 12 **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| |---|---|---| 13 **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| 14 **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| |||||||||| |||||||||-| 15 ## **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|||||| 16 **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| |---|---|---|---| 17 **THE ASTOR OF HEVER TRUST** ## **NOTES TO THE ACCOUNTS Year ended 5 April 2023** ## **12. SCHEDULE OF INVESTMENTS AND INCOME (continued)** |**Link Fund Solutions**
**Gresham Hse M Cap Inc**
**F**
25/05/2022 Purchase
08/06/2022 Dividend
08/06/2022 Equalisation
31/08/2022 Equalisation
31/08/2022 Dividend
05/12/2022 Dividend
28/02/2023 Dividend
**Jupiter Unit Trust MGRs**
**UK Special Sits**
31/05/2022 Dividend
30/11/2022 Dividend
**IShares PLC Core FTSE**
**100 Shares Inc**
23/05/2022 Purchase
29/06/2022 Overseas income
29/09/2022 Overseas income
03/01/2023 Overseas income|**Holding**
22,827.000
9,386.000
32,213.000
37,822.000
37,822.000
-
5,316.000
5,316.000|**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**
**£**
-
-
-|**Profit/(loss)**
**based on cost**
**£**
-
-
-|**Market Value**
**5 April 2023**
**£**
40,121.00
80,168.00
39,891.00|**Market Value**
**5 April 2023**
**£**
40,121.00
80,168.00
39,891.00|**Net income**
**£**
155.50
354.90
483.16
351.57
1,345.13
1,011.40
1,290.34
2,301.74
489.07
468.87
264.74
1,222.68| |---|---|---|---|---|---|---|---|---|---| ||||||||||| ||||||||||| |||71,002.11||-||-||80,168.00|| |||-
38,264.57||38,264.57|||||| |||38,264.57||38,264.57||-||39,891.00|| 18 **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| |---|---|---|---|---|---|---| 19 ## **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
-| |---|---|---|---|---|---|---| 20 **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| |---|---|---|---|---|---|---| 21 **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| |---|---|---|---|---|---|---| 22 **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| |---|---|---|---|---|---| 23