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2024-04-05-accounts

THE ASTOR OF HEVER TRUST

Report and Financial Statements

5 April 2024

.

THE ASTOR OF HEVER TRUST

REPORT AND FINANCIAL STATEMENTS 2024

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 2024

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 2024

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 2024. 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 focused 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 £27,729 and made grants totalling £24,340 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 2024 and have supported UK registered charities throughout the year with the focus on Kent continuing.

At the November 2021 Trustees’ Meeting, the Trustees made a donation to Royal British Legion Scotland, specifically for the restoration of the Haig family memorial gravestones at Dryburgh Abbey. However, since making the pledge there has been a continued ongoing problem obtaining the necessary licences for the work to start. The Royal British Legion Scotland and the Trustees agreed that should the work not commence within a two year period, the donation should be returned. Subsequently at the end of 2023 the restoration still had not commenced, therefore the sum of £2,160 was returned to the Trust’s bank account on 18[th] January 2024.

The return of the donation was discussed at the May 2024 meeting where the Trustees agreed that should the situation change in the future and a new application be made, they would reconsider making a donation.

Throughout the year, the Trustees continued to support the work of many charities, including those related to the arts, medical and therapy professions, charities supporting ex-military personnel, along with organisations concerned with the wellbeing of animals and the environment.

In light of the family’s longstanding association with the respective regiments, the Trustees agreed to contribute financial support for the participation by soldiers and the band of the Household Cavalry at a series of ceremonies in Flanders to mark the 100[th] anniversary of the inauguration of the Household Cavalry Memorial in Zandvoorde.

The Trustees also made a donation to St George’s Memorial Church in Ypres, in remembrance of those who had fallen in the First World War.

4

THE ASTOR OF HEVER TRUST

TRUSTEES’ REPORT (continued)

FINANCIAL REVIEW

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

Investment income at £27,729 (2023: £31,798) was £4,069 lower than in the previous year. No donations were received in the year and donations of £24,340 (2023: £23,350) were paid out. The investment portfolio showed total investment gains of £60,331 (2023: losses of £60,929). As at the balance sheet date the charitable fund was valued at £1,212,247 representing a net increase of £44,035 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 a return 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.

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 focused 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:

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 18 November 2024

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 2024 which are set out on pages 8 to 24.

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:

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

10 December 2024

7

THE ASTOR OF HEVER TRUST

STATEMENT OF FINANCIAL ACTIVITIES Year ended 5 April 2024

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
2024
£
2023
£
27,729
31,798
575
128
28,304
31,926
24,340
23,350
6,321
6,243
13,939
19,854
44,600
49,447
(16,296)
(17,521)
12,104
(5,576)
48,227
(55,353)
60,331
(60,929)
44,035
(78,450)
1,168,212
1,246,662
1,212,247
1,168,212		 Unrestricted funds
2024
£
2023
£
27,729
31,798
575
128
28,304
31,926
24,340
23,350
6,321
6,243
13,939
19,854
44,600
49,447
(16,296)
(17,521)
12,104
(5,576)
48,227
(55,353)
60,331
(60,929)
44,035
(78,450)
1,168,212
1,246,662
1,212,247
1,168,212
31,926
23,350
6,243
19,854
49,447
(17,521)
(5,576)
(55,353)
(60,929)
(78,450)
1,246,662
1,168,212

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 2024

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		 £
37,420
37,420
(3,000)
(3,000)		 2024
£
1
1,177,826
1,177,827
34,420
1,212,247
1,212,247		 £
22,625
22,625
(3,000)
(3,000)		 2023
£
1
1,148,586
1,148,587
19,625
1,168,212
1,168,212

The financial statements were approved by the trustees on 18 November 2024

Signed on behalf of the trustees

Lord Astor of Hever

9

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2024

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 2024

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
2024
£
2023
£
27,729
31,798
2024
£
2023
£
6,321
6,243
2024
£
2023
£
2,400
2,400
1,200
1,200
10,339
10,494
-
5,760
13,939
19,854
2024
£
2023
£
1,200
1,200
2023
£
2,400
1,200
10,494
5,760
19,854
2023
£
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 2024

8. TANGIBLE FIXED ASSETS FOR USE BY THE CHARITY

Cost
At 5 April 2023
At 5 April 2024
Accumulated depreciation
At 5 April 2023
At 5 April 2024
Net book value
At 5 April 2024
At 5 April 2023
9.
INVESTMENTS HELD AS FIXED ASSETS
Quoted UK stock exchange investments
Market value at 5 April 2023
Additions at cost
Disposal proceeds
Net realised investment gains / (losses)
Net unrealised investment gains / (losses)
Market value at 5 April 2024
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
2024
£
2023
£
1,148,586
1,228,143
348,755
134,968
(379,846)
(153,596)
12,104
(5,576)
48,227
(55,353)
1,177,826
1,148,586
1,059,903
1,045,087
1,177,826
1,148,586
18,118
15,222
1,195,944
1,163,808

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 2024

9. INVESTMENTS HELD AS FIXED ASSETS (continued)

The investments are detailed below and those exceeding £59,797 (2023: £58,190) 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
Waystone Fund Services Trojan Income S
Waystone Fund Services Trojan Fund S
Jupiter Unit Trust Japan Income
Artemis Fund Managers Global Income
Aberdeen Standard Fund Mgrs Index Linked Bond
HICL Infrastructure
Waystone Fund Services UK Gresham Hse M-Cap Inc F Inc
Jupiter Unit Trust Managers UK Special Sits
IShares PLC Core FTSE 100 Shares Inc
Invest Fund Services Evenlode Income D
Princess Private Equity Holdings
T Rowe Price Funds US Large Cap Val Equity (GBP)
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
CT Special US Equity Income L Inc
Brown Advisory Funds US Smir C Fund
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
Blackrock Asset Managers Global Uncons Equity D
Edgewood L Select Fund US Select Growth ID Inc
Guinness Asset Management Global Equity Inc Z Inc
Harbourvest GBL Private Equity NPV Ordinary Shares
Lyxor Intl Asset Mgmt MSCI CoreWorld UCITS ETF
SPDR Series Trust S&P 500 ETF
Treasury 5/8% Bonds 31/07/2035
Waystone Fund Services UK Ruffer Total Ret J Inc
Rathbones GBP Capital Investment Account
Rathbones GBP Income Account		 2024
£
32,517
30,639
53,281
63,416
23,105
-
51,722
40,727
-
17,108
30,791
42,138
81,926
41,055
70,678
-
40,234
-
25,378
65,611
25,682
18,273
14,905
-
31,392
45,481
30,827
22,121
20,465
26,454
40,204
38,607
25,558
26,128
39,066
29,055
33,282
15,358
2,760
1,195,944		 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

13

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2024

10. CHARITABLE COMMITMENTS

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

11.
DONATIONS PAYABLE
Charity 2024
£
Alabare Christian Care & Support 200
Anglican International Development 1,000
Asthma & Lung UK 200
Battersea Dogs & Cats Home 750
BLESMA (Kent) 500
Blind Veterans UK 1,500
British Forces Foundation 500
British Red Cross 300
Cancer Research UK 1,500
Chartwell Charities 250
Countryside Alliance Foundation (Fishing for Schools) 1,000
Dame Hannah Rogers Charity 200
Dogs Trust 500
Friends of Hever C of E Primary School 1,000
Hospice in the Weald 500
Household Cavalry 2,000
Life Guards Association Charitable Trust 2,000
Lord’s Taverners 500
Marie Curie Cancer Care 1,500
Nordoff Robins Music Therapy 1,000
Royal British Legion 300
Royal British Legion Scotland – Haig Memorial Restoration (returned) (2,160)
Royal British Legion – Westerham Branch 1,000
RVC Animal Care Trust 750
Shekinah Mission 100
SOFA Project 500
St George’s Memorial Church, Ypres 1,000
St Mary’s Westerham Heritage Trust 1,000
The Grange, Epsom 400
The Gurka Museum 250
The Royal Marsden Cancer Charity 100
UCHL NHS Foundation 2,000
University of Kent – Parkinson’s Centre 1,000
V&A Dundee 1,000
Wheelyboat Trust 200
__
Total donations payable as disclosed in statement of financial activities (page 8) 24,340

14

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2024

12. SCHEDULE OF INVESTMENTS AND INCOME

Prusik Umbrella Fund
Asian Equity Income
11/05/2023 Sale
02/08/2023 Overseas income
07/02/2024 Overseas income
Polar Capital GBL Fin
Trusts Ordinary Shares
13/10/2023 Sale
30/11/2023 Purchase
31/08/2023 Dividend
Jupiter Strategic Bond
Fund Income
11/04/2023 Conversion
11/04/2023 Conversion
30/06/2023 Gross interest
30/09/2023 Gross interest
30/12/2023 Gross interest
31/03/2024 Gross interest
Findlay Park American
Funds
10/05/2023 Sale
13/10/2023 Sale
16/01/2024 Overseas income		 Holding
342.000
(69.000)
273.000
15,436.000
(15,436.000)
1,023.000
1,023.000
98,478.000
(98,478.000)
64,795.530
64,795.530
627.000
(102.000)
(150.000)
375.000		 Book value
£
27,159.56
(5,479.56)
21,680.00
24,600.00
(24,600.00)
24,601.83
24,601.83
64,638.18
(64,638.18)
64,638.18
64,638.18
27,974.95
(4,550.94)
(6,692.57)
16,731.44		 Cost/
(proceeds)
£
(8,960.84)
(8,960.84)
(21,147.32)
24,601.83
3,454.51
-
(13,575.18)
(22,140.00)
(35,715.18)		 Profit/(loss)
based on
cost
£
3,481.28
3,481.28
(3,452.68)
(3,452.68)
-
9,024.24
15,447.43
24,471.67		 Market
Value
5 April 2024
£
32,517.00
30,639.00
53,281.00
63,416.00		 Net income
£
1,044.80
888.25
1,933.05
378.18
378.18
688.00
743.85
679.51
734.39
2,845.75
40.28
40.28

15

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2024

12. SCHEDULE OF INVESTMENTS AND INCOME (continued)

Bluebay Funds Mgmt
Global Corp Bond
11/04/2023 Gross interest
07/07/2023 Gross interest
06/10/2023 Gross interest
08/01/2024 Gross interest
Waystone Fund Services
Trojan Income
12/05/2023 Sale
26/07/2023 Sale
24/08/2023 Sale
02/10/2023 Dividend
Waystone Fund Services
Trojan Fund
26/07/2023 Purchase
24/08/2023 Purchase
03/04/2024 Dividend
03/04/2024 Equalisation
Jupiter Unit Trust MGRs
Japan Income
29/09/2023 Dividend
28/03/2024 Dividend		 Holding
259.000		 Book value
£
23,247.32
23,247.32
73,323.16
(25,805.74)
(23,647.52)
(23,869.90)
-
14,117.74
11,582.77
19,183.40
(151.27)
44,732.64
35,108.74
35,108.74		 Cost/
(proceeds)
£
-
(25,178.22)
(22,749.45)
(21,890.91)
(69,818.58)
11,582.77
19,183.40
(151.27)
30,614.90
-		 Profit/(loss)
based on cost
£
-
(627.52)
(898.07)
(1,978.99)
(3,504.58)
-
-		 Market Value
5 April 2024
£
23,105.00
-
51,722.00
40,727.00		 Net income
£
265.58
272.21
288.32
280.26
259.000 1,106.37
40,225.005
(14,157.000)
(12,973.000)
(13,095.005)		 259.54
- 259.54
6,236.170
3,727.000
6,256.000		 515.44
16,219.170 515.44
34,732.000 479.06
431.41
34,732.000 910.47

16

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2024

12. SCHEDULE OF INVESTMENTS AND INCOME (continued)

Artemis Fund MGRs
Global Income Units
21/04/2023 Sale
Aberdeen Standard Fund
Mgrs Gbl Index Linked
Bond
30/06/2023 Gross interest
30/09/2023 Gross interest
29/12/2023 Gross interest
28/03/2024 Gross interest
HICL Infrastructure Co
Ltd
24/07/2023 Sale
30/06/2023 Dividend
30/06/2023 Gross interest
29/09/2023 Dividend
29/09/2023 Gross interest
29/12/2023 Dividend
29/12/2023 Gross interest
04/04/2024 Dividend
04/04/2024 Gross interest
Guinness Asset Mgmnt
Global Equity Inc Z
20/04/2023 Purchase
31/07/2023 Overseas income
31/01/2024 Overseas income		 Holding
60,000.000
(60,000.000)
-
35,000.000
35,000.000
30,318.000
(5,685.000)
24,633.000
-
1,316.000
1,316.000		 Book value
£
49,503.58
(49,503.58)
-
19,618.83
19,618.83
47,356.62
(8,879.95)
38,476.67
-
35,757.30
35,757.30		 Cost/
(proceeds)
Profit/(loss)
based on cost
Market Value
5 April 2024
Net income
£
£
£
£
(65,370.00)
15,866.42
(65,370.00)
15,866.42
-
-
213.05
224.46
268.63
203.95
-
-
17,108.00
910.09
(7,796.49)
(1,083.46)
200.83
426.76
497.29
10.15
284.17
223.27
208.05
299.39
(7,796.49)
(1,083.46)
30,791.00
2,149.91
35,757.30
432.17
296.10
35,757.30
-
38,607.00
728.27		 Cost/
(proceeds)
Profit/(loss)
based on cost
Market Value
5 April 2024
Net income
£
£
£
£
(65,370.00)
15,866.42
(65,370.00)
15,866.42
-
-
213.05
224.46
268.63
203.95
-
-
17,108.00
910.09
(7,796.49)
(1,083.46)
200.83
426.76
497.29
10.15
284.17
223.27
208.05
299.39
(7,796.49)
(1,083.46)
30,791.00
2,149.91
35,757.30
432.17
296.10
35,757.30
-
38,607.00
728.27
-
213.05
224.46
268.63
203.95
910.09
200.83
426.76
497.29
10.15
284.17
223.27
208.05
299.39
2,149.91
432.17
296.10
728.27

17

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2024

12. SCHEDULE OF INVESTMENTS AND INCOME (continued)

Waystone Fund Services
UK Gresham Hse M Cap
Inc F
31/05/2023 Dividend
04/09/2023 Dividend
01/12/2023 Dividend
01/03/2024 Dividend
Jupiter Unit Trust MGRs
UK Special Sits
31/05/2023 Dividend
30/11/2023 Dividend
IShares PLC Core FTSE
100 Shares Inc
13/04/2023 Overseas income
29/06/2023 Overseas income
06/10/2023 Overseas income
02/01/2024 Overseas income
28/03/2024 Overseas income		 Holding
32,213.000
32,213.000
37,822.000
37,822.000
5,316.000
5,316.000		 Book value
£
42,677.35
42,677.55
71,002.11
Cost/
(proceeds)
£
-		 Profit/(loss)
based on cost
£
-
-
-		 Profit/(loss)
based on cost
£
-
-
-		 Market Value
5 April 2024
£
42,138.00
81,926.00
41,055.00		 Market Value
5 April 2024
£
42,138.00
81,926.00
41,055.00		 Net income
£
431.24
459.39
529.42
406.40
1,826.45
1,235.68
1,517.04
2,752.72
227.52
552.86
444.42
319.49
252.51
1,796.80		 Net income
£
431.24
459.39
529.42
406.40
1,826.45
1,235.68
1,517.04
2,752.72
227.52
552.86
444.42
319.49
252.51
1,796.80
71,002.11 - - 81,926.00 2,752.72
38,264.57 227.52
552.86
444.42
319.49
252.51
38,264.57 - - 41,055.00 1,796.80

18

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2024

12. SCHEDULE OF INVESTMENTS AND INCOME (continued)

Invest Fund Services
Evenlode Income C
04/12/2023 Sale
02/05/2023 Dividend
08/08/2023 Dividend
31/10/2023 Dividend
01/02/2024 Dividend
Princess Private Equity
Holdings Ordinary
Shares
15/06/2023 Overseas income
24/07/2023 Sale
T Rowe Price Funds US
Large Cap Val Equity
Waystone Fund Services
UK Ruffer Total Ret J

25/04/2023 Purchases
01//08/2023 Purchase
15/11/2023 Equalisation
15/11/2023 Dividend		 Holding
39,156.970
(11,170.000)
27,986.970
2,823.000
(2,823.000)
-
3,076.000
3,076.000
-
6,244.000
3,381.000
9,625.000		 Book value
£
83,895.56
(23,932.22)
59,963.34
32,778.80
(32,778.80)
-
31,519.31
31,519.31

-
23,139.64
12,009.99
(174.53)
34,975.10		 Cost/
(proceeds)
£
(27,640.17)
(27,640.17)
(25,133.11)
(25,133.11)
-
23,139.64
12,009.99
(174.53)
34,975.10		 Profit/(loss)
based on cost
£
3,707.95
3,707.95
(7,645.69)
(7,645.69)
-
-		 Market Value
5 April 2024
£
70,678.00
-
40,234.00
33,282.00		 Net income
£
791.05
662.31
662.58
473.89
2,589.83
876.40
876.40
-
178.81
178.81

19

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2024

12. SCHEDULE OF INVESTMENTS AND INCOME (continued)

Janus Henderson
Investments Strategic
Bond
24/08/2023 Sale
31/05/2022 Gross interest
31/08/2023 Gross interest
Jupiter Unit Trust Mgrs
Asian Income U1 Inc
31/05/2023 Dividend
31/08/2023 Dividend
30/11/2023 Dividend
29/02/2024 Dividend
Treasury ¼% Gilt
31/01/2025
11/05/2023 Purchase
02/08/2023 Gross interest
21/08/2023 Purchase
31/01/2024 Gross interest
Wisdomtree Metal Secs
Ltd Physical Gold (USD)		 Holding
24,520.340
(24,520.340)
-
14,733.000
14,733.000
31,527.000
12,202.000
24,209.000
67,938.000
149.000
149.000		 Book value
£
32,057.58
(32,057.58)
-
23,536.75
23,536.75
28,616.79
11,409.98
22,575.92
62,602.69
17,357.38
17,357.38		 Cost/
(proceeds)
£
(25,182.39)
(25,182.39)
-
11,409.98
22,575.92
33,985.90
-		 Profit/(loss)
based on cost
£
(6,875.19)
(6,875.19)
-
-
-		 Market Value
5 April 2024
£
-
25,378.00
65,611.00
25,682.00		 Net income
£
227.38
190.06
417.44
294.51
277.97
268.14
165.25
1,005.87
54.66
84.92
139.58x
-

20

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2024

12. SCHEDULE OF INVESTMENTS AND INCOME (continued)

I Shares II plc USD TIPS
UCITS ETF
30/05/2023 Gross interest
13/09/2023 Gross interest
12/12/2023 Gross interest
27/03/2024 Gross interest
Chrysalis Investments Ltd
Ordinary Shares
01/02/2024 Purchase
CT Special Inv US Equity
Income L Inc
26/07/2023Sale
24/08/2023 Sale
30/06/2023 Dividend
29/09/2023 Dividend
Brown Advisory Funds US
Smir Cos C Fund
Treasury 5/8% Bonds
31/07/2035
11/05/2023 Purchase
02/08/2023 Gross interest
06/02/2024 Gross interest		 Holding
3,795.000
3,795.000
11,564.000
6,860.000
18,424.000
18,664.000
(8,865.000)
(9,799.000)
-
1,274.000
1,274.000
-
42,391.000
42,391.000		 Book value
£
21,396.97
21,396.97
23,706.20
5,491.30
29,197.50
48,170.51
(22,879.95)
(25,290.56)
-
31,391.82
31,391.82
-
28,850.32
28,850.32		 Cost/
(proceeds)
£
-
5,491.30
5,491.30
(31,348.42)
(34,220.07)
(65,568.49)
-
28,850.32
28,850.32		 Profit/(loss)
based on cost
£
-
-
8,468.47
8,929.51
17,397.98
-
-		 Market Value
5 April 2024
£
18,273.00
14,905.00
-
31,392.00
29,055.00		 Net income
£
96.01
68.31
68.69
215.18
448.19
-
384.53
205.07
589.60
-
132.47
132.47
264.94

21

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2024

12. SCHEDULE OF INVESTMENTS AND INCOME (continued)

Fundsmith LLP Equity I
Inc
24/08/2023 Purchase
26/09/2023 Dividend
05/02/2024 Sale
28/02/2024 Equalisation
28/02/2024 Dividend
Rathbone Unit Trust
Mgmt Global
Sustainability S Ins
30/06/2023 Dividend
29/12/2023 Dividend
Greencoat UK Wind plc 1p
Ordinary Shares
24/07/2023 Sale
22/08/2023 Sale
26/05/2023 Dividend
25/08/2023 Dividend
24/11/2023 Dividend
29/02/2024 Dividend
Schroder Inv Man Global
Energy Transition Q Inc
31/08/2023 Dividend
29/29/2024 Dividend		 Holding
5,172.000
3,225.000
(1,236.000)
7,161.000
21,485.000
21,485.000
30,152.000
(6,378.000)
(7,686.000)
16,088.000
47,175.000
47,175.000		 Book value
£
21,704.68
17,922.29
(5,186.96)
(22.98)
34,417.03
27,701.26
27,701.26
39,520.65
(8,359.73)
(10,074.14)
21,086.78
23,139.34
23,139.34		 Cost/
(proceeds)
£
17,922.29
(7,519.21)
(22.98)
10,380.10
-
(9,313.33)
(10,331.66)
(19,644.99)
-		 Profit/(loss)
based on cost
£
2,332.25
2,332.25
-
953.60
257.52
1,211.12
-		 Market Value
5 April 2024
£
45,481.00
30,827.00
22,121.00
20,465.00		 Net income
£
33.94
108.05
141.99
161.14
171.88
333.02
660.33
520.65
352.33
551.82
2,085.13
171.15
0.90
172.05

22

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2024

12. SCHEDULE OF INVESTMENTS AND INCOME (continued)

Harbourvest GBL Private
Equity NPV Ordinary
Shares
24/07/2023 Purchase
Edgewood L Select Fund
US Select Growth I D Inc
24/07/2023 Purchase
22/08/2023 Purchase
SPDR Series Trust S&P
500 ETF
24/07/2023 Purchase
22/08/2023 Purchase
26/09/2023 Overseas income
29/12/2023 Overseas income
27/03/2024 Overseas income
Lyxor Intl Asset Mgmt
MSCI Core World
UCITS ETF
13/10/2023 Purchase		 Holding
-
1,104.000		 Book value
£
-
25,474.74
25,474.74
-
16,911.49
15,898.40
32,809.89
-
17,288.47
15,771.06
33,059.53
-
22,705.52
22,705.52		 Cost/
(proceeds)
£
25,474.74		 Profit/(loss)
based on cost
£
-
-
-
-		 Market Value
5 April 2024
£
25,558.00
40,204.00
39,066.00
26,128.00		 Net income
£
1,104.000 25,474.74 -
-
71.000
70.000		 16,911.49
15,898.40
141.000 32,809.89 -
-
49.000
46.000		 17,288.47
15,771.06		 107.58
110.74
115.00
95.000 33,059.53 333.32
-
1,852.000
1,852.000		 22,705.52
22,705.52
-

23

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2024

12. SCHEDULE OF INVESTMENTS AND INCOME (continued)

Blackrock Asset Mgrs UK
Global Uncons Equity D
16/10/2023 Purchase		 Holding
Book value
£
-
-
14,187.000
22,180.07
14,187.000
22,180.07
1,059,902.52

 Cost/
(proceeds)
Profit/(loss)
based on cost
£
£
22,180.07
22,180.07
-
(31,091.06)
45,907.07		 Market Value
5 April 2024
£
26,454.00
1,177,826.00		 Net income
£
-
27,729.49

24