THE JOHN & PAMELA SALTER CHARITABLE TRUST IREGISTERED CHARITY NO. 298317) REPORT & ACCOUNTS FOR THE YEAR 01.09.2023 TO 31.08.2024
The John & Pamela Salter Charltable Trust {Reglstered Charity No. 2983171 Report for the Year Ending 31 August 2024 l. Deed & Trustees The trust was established by a Deed dated I September 1987 by Parnela lean Salter in memory of her13te husband, Dr John Gurney Salter. Mrs Pamela Jean Salter retained a life long interest in science sinte taking a degree in physiology at Cambridge University. Mrs Pamela Salter passed away on 7, April 2022. The current trLtstees are.. A. Mr Charles William Legh Barratt. B. Mr Samuel Charles Legh Barratt. C. Mrs Michelle Anne Collins. D. Mr Stephen John Skinner. 2. Oblects of the Trust During the lifetime of the Settlor, to pay or apply the income of the Trust Fund and so much of the capltal as the Seulor may determine to such charitie5 or for such charitable purposes as the Settlor may determine. After the death of the Settlor, to pay or apply the capital and income of the Trust Fund to such charities or for Such charitable purposes as the Trustee5 shall determine having regard to any direction given or wishes expressed by the Settlor to the Trustees. 3. Actlvltles durlng the year There were various changes to the trust investments as reflected in the Capltal Account. Grants totalling £118,645.00 were made during the year a5 shown on the Income Account. 4. C¢mmlsslons recefved from dealin8 fees Commissions amounting to £10,579.71 have been received by Barratt & Cooke during the year, a firm in which trustee Mr Samuel Charle5 Legh Barratt 15 a director. These payments are authorised under paragraph 6 of the Trust Deed. 5. Payments to Trustees Fees amounting to £11,875.20 have been paid to Coiens-H3réy LLP during the year, a firm in which trustee Mrs Michelle Anne Collins is a partner. These payments are authorised under paragraph 6 of the Trust Deed.
- The Accounts comprlse: Capital Account Page I Investment Transattions Page 2 Schedule of Investments Pa8È3-4 Income Account Page 5 Cash Statement at 31.08.24 Page 6
- Addresses et¢". Principal registered address Castle Chambers Opie Street Norwich Norfolk NR13DP Solicitors Cozens-Hardy LLP Opie Street Norwlch Norfolk NRI 3DP stockbroker5 Barratt & Cooke 516 Opie Street Norwich Norfolk NRI 3DW Bankers Lloyds Bank PIC 16 Gentleman's Walk Norwich Norfolk AccDunt3nts Nuvo Accountancy Limited 7 Faraday Court First Avenue Eurtun upon Trent Stafford5hire DE14 2WX
Th* John and Pamèla Salter Charitable TN8t Capltsl Account for Year Endlng 31.08.24 Inve¥tsnents: Investments al book ust brought fomard at 01.09.23 4,868,619 68 Les$ ¢osl of iftvestsnents realised in year 717,519.51 4,151,1ChJ.17 Add cost of invethents bought in yaar 720,973.Q1 InvesTrnts at cost carried forward at 31.08.24 4,872,073.18 Capltal Cash: Brought fr)ard at 01.09.23 289,440,93 Add". Proceeds of inve5trnenl reaii5ats.ons in yèar 648,753.12 938,194.05 Less cost of inv¢stm¢nts bought in yg 720,973.01 Capital Cash Gqrried forward at 31.08.24 217,221.04
The John and Pamela Salt•r Chorilable frust Invesknent Transactions in Year Ending 31.8.24 INVESTMENT TRANSACTIONS.. Realisation$'. Book Cost of InVeStts sold 67620 Baillie Gifford Japanese Income Growth FD B Inc Orsted AIS Common Stock DKK10 Sandoz Group AG 24712 Cordianl Digital Infraslruclure LD Ord Shrs of NPV 3462 Lionlrust Asset Management Ordy 1 p Shs 463 Masimo Corp Common stock USD0.1 1855 RelxPLC Ord 14 511116p 230 Wotters-Kluwer NV CVA EUROO.12 5650 Rentokil Initial Ordinary 1 p sha$ 2100 Bunzl PLC Ordinary 32 1np Shares 175 Roche Hlgs AG Genus5cheine NPV 275 Becton Dickinson & Co Common Sto¢k USD1 1455(M) Trèasury 0.125•k IIL Girt 22103r2026 74 Lonza Redemption of prem 2D24 share event 88,547.00 84.091.86 2,275.04 25,005.27 35,451.00 52.146.00 20,501.85 19,982 96 30,122.89 59,148.37 40,306.84 53.118.75 206,690.68 131.CMJ 82.173.05 30.405.15 2,171.61 16,524.69 19.124.88 30,850.72 53.853.81 27,017.23 22,617.18 64,565.29 34,329.11 50,611.91 214,380 89 127.eo 717,519.51 648,753.12 Acqui8ition8'. Cost 1324 8(NJOO 76 60 375 Colgate-Palmolive Company Common Stock USD1 Treasury 4.25% Gill 07112r2027 ASML Holding NV EURQ.09 LVMH Moel-Hennessy Louis Vuitton EURO.30 Automatic Data Processing Common Stk USDO.10 Walsco Inc Common Stock USDO.05 Oracle Corp US Novartis CFHO.01 Edwards Lifesciences Corp CoTllmon Stock US01 324 Zoelis Inc Common Slod( USDO.01 197850 Treasury 4.125% Gilt 2210712029 GBPO.Oq Sand¢z Group AG GBPICHF1.1044 81.989.18 80,626.39 40.238.69 37,788 18 74,863.25 49,959.61 49,530.59 24,945.60 34,944.44 44,918.88 198,893.16 2,275.04 520 3D1 720,973.01
The John and Parnela Salter Charitable Trust Schedule of Investm¢nts at 31st August 2024 Book Cost Value at 31_08.24 175000 Treasury 2% Gill 0710912025 147990 Treasury 4.125tsA Gilt 2910112D27 82000 Treasury 0.125% IIL Gilt 1010812028 80000 Treasury 4.25°A Gilt 0711212027 197850 Treasury 4.125% GI 2210712D29 GBPO.01 15000 31 Infrastructure PLC Ordinary Shares of NPV 2625 Admiral Group Ordinary 0.1 p shares 57 Adyen NV Euro.01 Common Stock of NPV 1164 Alphabet Inc Common Stock No Par Value"A" Shr8 2350 Anglo American Ordy US$O.54945 shares 140 ASML Holding NV Euroo 09 1200 A51razeneca PLC Ordinary US$O.25 Shares 4100 Ayas Copco AB Class Commn Stock SEKO.639 375 Automatic Dats PTOGessing Common Stk USDO.10 2723 BHP Group Ltd NPV Shares 5150 Bioteth Gr¢)wth Trust Ordy 25p Shares 780 Church & Dwght Company Inc Common Stock USD1 440 CME Group Inc.Common Stock USDO.01 A 1324 Colgale-Palmolive Company Common Stock USD1 899 Coloplast Com Stk OKK1 990 Croda Int'l PLC Ordinary 10.609756p shares 3475 Diageo PLC Ord 28 1011108p shares 3570 Diploma PLC Ordinary 5p shares 490 Edwards LifeScien5 Corp Common Stock USD1 500 Eslee Lauder Companies Inc CLS'A. Com Stk USDO.01 1850 Experian PLC Ordinary US$O.10 Shares 3500 Halma PLC Ordinary 10p Shares 2150 Harbourvest Global Private Equity Ltd Ord NPV Shs 180 IDEXX Laboratories Inc. common stock USDO.10 171,343.59 149,997.62 114,674.32 80,626,39 198,893.16 49,415.95 57,075.01 81,815.00 119,951.44 79,321.88 70.104.50 116,335.80 39,551.38 74,863.25 79,981.00 49,624.94 50,071.00 70,121.75 81,989.18 107,840.00 48,759.44 131,992,49 100,221.14 34,944.44 74.586.78 50,324.97 7,658.22 51,170.00 60,320.20 59,303.00 69,258.70 75,029.00 50,008.90 111.040.34 34,264.00 49,147.00 77,748.01 139,891.32 73,928.91 147.505.00 48,802.77 74,818.58 54,940.09 26,218 91 49,530.59 48,284.96 170,975 148,049 113,248 80,952 199.710 51,300 76,598 63.754 144,863 51,912 95,674 159,288 56,600 78,814 56,72Q 52,118 60,532 72,308 107,409 93,343 40,659 85,919 159,365 26,113 34.910 68,154 91.210 53.105 65.996 50,244 79,200 80,501 53,900 169,125 36,850 53,071 70,937 166,048 96,058 226,556 36,811 72,913 75,145 102.674 55,965 49,875 128SO Impax Environmentsl Markets Ordy 10p Shs 1600 Intertek Group Ordinary 1 p shares 60300 J P Morgan Global Emerging Marf(els Inc Tst 1p 50000 J P Morgan Emerging Markets I PLC Ord 2.5p sha$ 1650 London Stock Exchange plc ord 6 79186p 74 L¢nza Group AG CHF1 IRegdl 159 L'oreal Common Stock EURO.20 125 LVMH Moel.Henness Louis Vuitton EURO.30 451 Masler¢ar4 Incorporated Common Stock 38500 ereantile Investment Trust Ordinary 2.5p Shares 713 Microsoft Corp'n Com Stk USSO.0000625 580 Nike Inc Class "B" Common Stock NPV 23750 North American Income Trust PLC Ord 5p Share8 821 Nvartis AG CHFO.01 {Regdl 970 Novo-Nordisk AS Common Stock DKKO.1 Series 8 520 Oracl6 Corporab'on Common Stock USO.01 13300 Pacifiv Assels TNst Ordy 12.5p shares
11150 520 1300 2700 3000 5550 566 7300 6750 550 2700 40000 9250 3145 350 314 130 820 310 324 Pantheon Intemalignal PLC Ordinary 6.7p Shares PepsiEo InG. Cap USS0.01 Reckitt 8enckiser Group Ofdy. 1 Op Shares Relx PLC Ord 14 511116p Rio Tinlo Ordinary 1 Op share5 Shell PLC Ordinary EURO.07 Shares Schneider Electric SE EUR4 Scottish Mortgage Investment Trust Ord 5p Shs Softcat PLC Ordinary G8PO.DOOS shares Spirax-sarco Engineering Ord 26 12113p shar•s SSE PLC Ordinary 50p Shares The Renewables Infrdslructure GRP Ltd Ord Shares NPV TR Property I Ordinary 25p Shares Unilever PLC Ord 3 119p sha$ Verisk Analytics Inc.Common Stock No Par Value VISA Inc. Class A Common Stock USDO.0001 Watsco Inc Common Stock USDO.05 Wolters-Kluwar NV CVA EUROO.12 Xylem Ine Common Stock USDO.01 Zoelis Inc Common Stock USDO.01 24.901.70 64.566.06 66,280.83 33,447.15 182,625.00 113,910.42 71,483.00 58.506.18 85,251.50 61,015.98 41,452.99 52,173.55 30,OQ18.47 101,996.27 58,949.QO 54,145.00 49.959.61 53.867.14 29,319.63 44,918.88 35,624 68,478 56,758 95,553 143,100 148.796 109,418 60.444 105,368 42,323 50,949 41,280 30,988 154.294 72,736 66,104 47,079 80,435 32.470 45,286 4.872,073.18 5,522,960
The John and Pamela Satier Charlt3ble TNst Income Accountforthe Year to 31.08.24 Dèficlt Balance brought forward at 01.09.23 15,548.161 In¢om¢ Rec8ipts in year tD 31.08.24: Irwestrnenl Inm0.. - UK DNidend$ 1.9.23- 31.08.24 - UK Authorised Unit Twsb 1.9.23- 81.8.24 - Interest Bearing Securi$ 1.9.23- 31.8.24 - Property Income Di¥idend5 1.9.23. 31.8.24 - Ovèrseas DiVendS 1.9.23- 31.8.24 60.987.00 000 14,Q93.75 107,339.70 - Intsmst Income Lbyds Bank Pl¢. gross interest Inter8st por Barratt & cooke Dep05il 1.9 23- 31.08.24 14.77 1,822.55 109,177.02 103.628.88 Less Expgnse$ lor year= - Con5-ardY LLP fees - Cozen5-Haidy LLP disbursents - Barratt & Cooke, Safe Custody F888 Barratt a Cooke. FX fees on for$ign currency transactions - Nuvo Accountano Mited lees - HMRC Tax Liability for Mrs Parnela saer IDecea?edl 11,875.20 32.49 1.170.00 175.29 2.430 00 26.20 15,709.18 87,919.68 Less Grants In year. Samaritans Iociober 223) NoNi¢h Cathedral INovernbBT 20231 - Break Charity (November 20231 - Ted Ellis Tru51 INovember20231 - Country Trust INovember20231 - N0ch Calh8dral (February 2024} Royal Norfolk Agricultural AssOciatan (May 20241 - UEA Fikn Ar¢hiv8 (May 20241 Hollyouth Project (May 2024} Efigineeiing Development Trusl (May 20241 - The Country Trust (May 20241 School Readers Grant Imay 20241 - Thg Norfolk Hospi (May 20241 Ted Ellvd Trust (June 20241 hn Innes Cenlft lJune 20241 The Sick Childr•n's Trusl (June 20241 Bumham Overy Harbour Trust (June 20241 Ted Ellis Trust (June 20241 10,000.00 10,000.00 5,000.00 T,5.00 20.WO.00 10,C()O.00 3,000.1 500.OD 10,OCM).00 1,945.00 10.000.00 3.000.00 5,000.00 7,50Q.00 700.00 10,000.00 2.500.00 2.OCx).00 118.845.00 D8lbclt Balance Carried FoTward at 31.8.24 130.725,321
The John and Pamela Salter Charttablè Trust Cash Statèment at 31st Aug115t 2024 Lloyds TSB AJC no. 1230900, baL4neè at 31.8.24 Lloyds TSB AJC no. 7118770, balance al 31.8.24 Monies al Barratt & Cooke at 31.8.24 - Capital Account - Capilal account interest DNild•nd Claims 70.312.23 1,292.17 114,923.81 0.00 0.00 ¢ozens-Hardy LLP Disbursernenl balancè pèr ladg8r report 132.49) 186.495.72 Representing.. Capitsl Cash balance al 31.8.241 page l) InGome deficrfc at 31.8.24 IpagÈ 41 217.221.04 130.725.321 186,495.72
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE JOHN & PAMELA SALTERCHARITABLE TRUST I rèport on Ihe accounts of thè Chaiiloble Trust for year ènded 31 August 2024 whh are set OLrt on pages 1 to 5_ Respectivo respon8lJilltle$ of trust••s and oxamin8r The charity's trustes ar• raponsble for the preparalK)rF ol (he accounts. The charty'$ trustees consider that an audit is not wuired for thi5 year under section 144121 of the CharitKS Aet 2022 and thot an independent examination is needed. It is my r85ponsibility to.. èxwnine the accounts uJwJer Section 145 Df the 2022 A., l¢llow th• pro&ureS laid down in the General DCtionS Qon by the Charfy CtyThnission under sedion 14615llbl of the 2Q22 Act.. and State whether partivJl8r matters have come to our attention. Basis of ind•p•nd•nt •xaminorfs statement My examination wa5 carried out in accordan with the General Diroctions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a compallscn of the accounts presented with those record5. It aL50 includ85 consideration of any unusual Items or disciosure3 in the accounts and seeking explanations from you as trustees ncemn9 any such matters. The procedures undertaken do not prov• all the ev8nce that would be wuired in an audit, and consequenuy no opinion is given a$ lo whethw thè accounts pr8S8nt a "true and fair vbw" and the roport 1$ limi(ed to those rnatters set out in the statement below. Independent eXanne¢S 8tatèm#nt In conn8¢tion with my examination, no rnatter has come to my attention: whith 9ive3 rne reasonable ¢au5e to bEIiEve that in any rnalerial respeci the requimmwts". to keep accounting r8cords in acurdance wrfh section 130 of tha 2022 Act.. and to prepare accounts which accord with the acrxjunting co[d5 and compty with the accounting requifftments ofthe 2022 Act have not been m&t". or to whi¢h, in my opinion, aitentiofi should be drawn to enable a proper understanding of the a¢Unts lo be ached. Le8 Frost FCCA Nuvo knountancy Limited Chartered Cer•fiad AcLountants 7 Faraday Court First Avenu8 Burton on Trenl Stsffordshira DE14 2WX Datt .' 6th November 2024