Docusign Envebpe ID." 25AFOC01-oD28gFB2-B40SD274FCsc Charity number.. 1192569 CHANCERYGATE FOUNDATION UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
Docusign Envebpe ID." 25AFOC01-oD28gFB2-B40SD274FCsc CHANCERYGATE FOUNDATION CONTENTS Page Reference and Adrninistrative Detsils of the Charity, Its Trustees and Advisers Trustees. Report Tru$tse$' Re$pon$ibilitigs Ststernenl Ind8p•nd•nt Examin•r's Rèport ststèmant of Flnanclal Actlvltlès Balanca Sheèt 10 Notes to the Financial Statements
Docusign Envebpe ID." 25AFOC01-oD28gFB2-B40SD274FCsc CHANCERYGATE FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023 Trust88S A Johnson V Johnson A Walker EJCook E Mulkem Charity rngistar8d numb•r 1192569 Principal office Chancerygate Foundab'on 12A Upper Berkeley Street London WH1 7QE Chalmian A Johnson Accountants Haslers Chartered Accountants Old Station Road Loughton Essex IG10 4PL Banker5 CAF Bank 25 Kings Hill Avenue Kings Hill West M311ing Kent ME194JQ Sollcltors Freeths LLP Curnbertand Court 80 Mount Street Nottingham NG1 6HH Page 1
Docusign Envebpe ID." 25AFOC01-oD28gFB2-B40SD274FCsc CHANCERYGATE FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees present their annual )rt together wlh the finanual statements of the Chancerygate Foundation for the period 1st January 2023 to 31 December 2023. Objectives and activities a. Policies and objectives To advance in life and relieve the needs of young people from British black African and Caribbean heritage minorities who are soaally andlor economically disadvantaged through.. lal the provision of grants to attend a universty in order to follow a path into employment in the property sector., Ibl providing and or assisting in pr(Kuring work experience arKI internships to students eligible for a giant by Chancerygate Foundation; Icl providing support and adwce to students at schools. colleges and universities about working Within the property ¢tor11ndusty. In setbng objethve5 and planning for adivities. the Trustees have gwen due considerab.on lo general guidance published by the Charty Commission relating to public benefit, including ihe guidance 'Public benefit.. running a charity IPB21'. b. Strat8gi8s for achiéving obJèctlv•s Chancerygate Foundation was fomed in 2020 by Andrew and Vanzd Johnson four founding Trustees vh)0 are also present as Trustees. Elizabeth Mulkem added as a further Trustee on 13th May 2022. Consideraty'on will be given to the add'On of fvrther Trustees being added to the Foundats'on as and when the need arises to provide lor succession and to improve its reach and diversity. The Trustees continue to meet on a regular basis (usually quarterly) lo remew and approve applications made by students for.. il financial supptsrt by way of 8 Chancerygate Foundab"on bursary. ill support in procuring work experience. iiil support by way of advice and mentoring. In addits"on. the opeiab.onal aspects of Chanceryg8te Ftsundab"on are managed at such regular meetings and where necessary extraordinary rneelings are lled where matters are of an urgent or specific n*ure. From the outset of fomiing Chancerygate Foundab"on the Trustees recognised that in order to meet their objectives to financialty support dTsadvantaged students by %Wdy of a grant to attend a univeTsty it should ft>rn a c105e relationship with specffic universities who wll promote the Chancerygate Foundation bursary prograrnme. Initially a relationship was built wth London South Bank University ILS8UI and Kingston University where three- year gift agreements were entered into each university to support up to tsvo students studying at LSBU and one from King51on Universrty. To qualify for a bursary from Chancerygate Foundation the selected students had to be undertaking a course accredited by The Royal Institution of Chartered Surveyors. It was felt that having an arrangement with these universf(ies wId enable our limited resources to be utilised more efficienuy with the universities selecting suitable candidates vA)o meet the Foundab"on's qualfying criteria. It is regrettable that during the year we had litue opb.on but to terminate our Gift Agreement arrangement with LSBU as a resu of change in personnel and lack of administration support at the university. However, the Trustees decided to continue wrth supporting the students it had at this universty on a direci basis and not via the universty. Page 2
Docusign Envebpe ID." 25AFOC01-oD28gFB2-B40SD274FCsc CHANCERYGATE FOUNDATION TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Obj•etiv•s and activiti•s {eantinu•dl c. Activitses undertaken to achieve objectives During 2023 grants of £10,000 were committed to of the three students we took on in 2021 to support them during their final year at Ljniversrty. Sadly, as a resum of potsr perfomance and attendance one of the students at LSBU withdrew from studying at the univer5ty and Iherefore the Found*ion's financial support could no longer be given despite many efforts to help the student regain his position of study. These payments were made direct to the student studying at LSBU and via the Grft Agreement for the student we have studying at Kingston Universrty against agreed amounts at the start of each tem atten¢Jed by the student and subject to the student meeting the necessary academic grades required by the universty to progress to the next stage. In addthon, grants of £10,000 were committed to each of the secon&year students taken studying at LSBU and Kingston University. These payments were also made direcuy to the one student we have at LSBU and via the Grft Agreements we have for the ly students studyng at TrQngston Univer5ty. The foundation also committed to make a payment of £10,000 directly to the single second-year student at Loughborough University. During 2023 students We selected from Kingston Univetsty for the Ftsundab"on to support during their course of study at the university along a further student studying at Cambridge unerS1ty. Grants of £10.000 were committed to each of these students and paid in stages via Kingston University under a new Gift Agreement entered into for these students and ¢JirecUy to the student studying at Cambridge. As in previous years our cohort of students were inwted to attend various social gatherings and presentations from industry professionals and past students at the offices of Chancerygate Ltd during the year with the objective of providing the students wth some insight into working lrfe as well as creating a close relationship with them so as to understand their needs. Whi15t pastoral care is given by the univer5ty. by having such gatherings it becarne a good way of seeing how each student is progressing and to ensure any additional support they might need is recognised. All students were assigned mentors from the either the professional surveying team at Chancerygate Ltd or from contacts known to Chancerygate Ltd or the Trustees in the real estate industry. The mentors using their expenence are able to provide the students wlh guidance. practical experience lincluding work experience) with the course of study they are undertakn'ng. The Foundats"on supported two students lone from LSBU and the other frtsm Loughborough University) in their second-year of study lo acb.vety look for employTnent in 2024 where they have chosen lo undertake a placement year in industry as part of their 4-year degree course. In addition, we supported our final year students from Studying at LSBU and lfjngston to look for full time employment followng their graduation in 2024. We wish these students every success in Ihe quest to find empkjyment and more will be reported on the outctsmes in the Trustees Report in 2024. d. Main activities undertaken to further the Charitys purposes for the public benefit In addition to fomiing an association univerSitS and speaking to students who corne to us via our own website we also undertake regular promotion of our actIveS soual media. Chancerygate Foundation also collaborated during the yearwth The Land Collective working wrth school year 12 and 13 students considering a career in the real estate industy along with Intouniversity in providing career advice to school year 9 students from The Cty Academy, Hackney. Page 3
Docusign Envebpe ID." 25AFOC01-oD28gFB2-B40SD274FCsc CHANCERYGATE FOUNDATION TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Aehi•v•m•nts and pèrformanc• a. Main a¢hievements of the Charity Chancerygate Foundation continues lo make tseif known in the property world and it is pleasing 10 See the first- year students we supported in 2021 progress to commence their final year in 2023 graduation in 2024. Along Imth other organisations ty.ng to create more equty. diversty and inclusion in the real estste industry the Foundation each year 15 gaining greater recognrtion as a chantable organi5ation that support5 young people from British black African and Caribbean heritage minorth'es who are socially andlor economically disadvantaged. The Trustees are proud of vthat Vt has achieved in such a short space of time since Chancerygate Foundation was established just four year5 ago. In particular the Foundalion is proud to have been able to support 10 student$ with grants of £10.OOOpa but also and of equal importance to provide these students with guidance and pastoral care through the mentors it allocates to each student and prowding the opportunity to go on to achieve a professional career in real estate. Flnanclal r•vl•w a. Going canc•m After making aPPTOPriate enquiries. the Trustee5 have a reasonable expectation that the Chanceryg3te Foundation has adequate resources to continue in operational existence for the foreseeable future. For thi5 reason, they continue to adopt the going concem basis in preparing the financial statements. Further details regarding the adoption of the going concem basis can be foun¢J in the accounting policies. b. Rès8N•s pollcy Chancerygate Foundation is funded by Chancerygate Limrted who provide a grant of £100.000 per annum payable on the 1st January each year. The Trustees policy is to maintsin sufficient capital funds at a level which they judge to be necessary to meet Chancerygate Foundation's objectives and financial obligations to third parties. Page 4
Docusign Envebpe ID." 25AFOC01-oD28gFB2-B40SD274FCsc CHANCERYGATE FOUNDATION TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Structurè, gov•mane• and managèmènt a. Con$titulion Chancerygate Foundation is a registered ¢harty. number 1192569. and is conslrtuled a5 a Gharitable Incorporated Organisation. The onty vots'ng members are its charity tnjstees. Its consb'tution document is dated 15th July 2020 and registered with the Charity Commission. b. Mèthods of appolntmènt or 818Ctlon of Trust88s The management of the charrty is the responsibility of the Tmstees vA)o are elected and eo-opted under the lerrns of its Charitable Incorporated Organisab"on constrtub.on document d*ed 15th July 2020. In accordance with Chancerygate Foundation's &)veming Document and Constitution dated 15th July 2020, Edwin C(xJk was duly reappointed in 2022 for a further two yeats unb"130th April 2024. In accordance with Chancerygate Foundalion's Goveming Documenl and Constitution dated 15th July 2020, Elizabeth Mulkern was appointed as a TnJstee on 13th May 2022 for a period 0fts years. In accordance wth Ghancerygate Foundation's Goveming t)o¢ument and Consb"lubon dated 15th July 2020, Amanda Walker was duly reappointed in 2023 as a Tnjstee for a further years until 30th April 2025. Andrew Johnson and Vanzel Johnson initially appointed as Trustees On 1st May 2020 and 16th September 2020 respectively for a period of 4 years and Iherefore each will be due for reappointment in 2024. Page 5
Docusign Envebpe ID." 25AFOC01-oD28gFB2-B40SD274FCsc CHANCERYGATE FOUNDATION TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Plans for futur• yriod$ Going fOnard. Chancerygate FoLJndab"on is keen to consolidate rts current offering of providing bursaries and support to disadvantaged sludents via a wider neNvork of universities throughout the UK. Having Elizabeth Mulkern as a Trustee and based in the north of the country wll enable us to make more connections wth students outside of London and the southeast where our aCtIty is currenlly concentrated. The appointment of further Trustee5 in the ftrture wll also help wth wdening our Scope of activty. With our website and markets'ng In'atIVeS through social media becoming more noticeable to the public it was hoped that we would be able to engage th students direcuy rather than rnosuy through the arrangements we currenuy have with universrties_ However. that has not proved to be the case and whi15t we wll continue our efforts to take applications from student's directly our success in supporting students to date has largely been through the assoaation we have tsyo universities. With us no longer having an association with LSBU by way of a Grft Agreement our sdection of students is now taken from just one university - Kingston. We will therefore be widening our scope to look at other universrties we can fomi a sirnilar alliance to that we have with Kingston in order to rnaintsin and increase the number of students we support each year wthin the fvnds we have available. To this end discussions have commenceil wth two universities at Greenwich and Westminster where their student demographic is likely to rnt oui crtteria. It hoped that these discussions wll corne to frurtion during 2024 where students wll be selected from at least one of these insb"tub"ons. Whilst our main activities are currenuy focussed on undergraduate students looking to undertake propertylcon5truction related degree through unNersty will a150 be conb"nuing a dialogLJe with schools and colleges in order to gain access to school age pupils to wden their knoedge about a career in the property sector and what opportunities may exist induding Ihe support through our bursary programme. Approved by order the members of the board of and signed on their behalf by.. Trustees on E3),PIQ4E5154AE. A Jonnson Chaimian 31 October 2024 Page 6
Docusign Envebpe ID." 25AFOC01-oD28gFB2-B40SD274FCsc CHANCERYGATE FOUNDATION STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees a responsible foi pparing the Ttustees. Report and the finanual statements in accoidance wth applicable law and United Kingdom Accounling Slandards {United bfjngdom Generally Accepted Accounting PractiTrl. The law applicable to charib'es in England & Wales requires the Tnjstees to prepare financial statements for each financial which give a true and fair wew of the state of affairs of tt)e Charity and of its incoming resources and application of resour5. induding ts inoyne and expendrture. for that period_ In preparing these financial statements. the Trustees are required to.. select suitable accounting poliaes and then apply them consistenly,. observe the methods and principles of the Charities SORP IFRS 1021., make judgments and accounting estimates that a reasonable and prudent., state whether applicable UK Accounting Standards IFRS 1021 have been followed, subject to any material departures disclosed and explained in the financial statements.. prepare the financial siatements on the going concem basis unless r( is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounling records that are suffiaent to show and explain the Chanty's transactions and disdose wth reasonable accuracy at any b.me the financial position of the Charity and enable them to ensure that the financial statements comply wth the Chanties Act 2011. the Charity IAccounts and Reports) Regulations 2008 and the provisions of 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 irregulants"es. Approved by order the membets of the board and signed on its behalf by.. of Trustees on E20.D4E5IyAE Chaiman 31 October 2024 Page 7
CHANCERYGATE FOUNDATION INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Independent Examiner's Report to the Trustees of Chancerygate Foundation {Yhe Charity.) report lo the charity Trustees on my examination of the actx)unts of the Chartty for the year ended 31 December 2023. Responsibilities and Basis of Report As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111.lhe 2011 Acr). I report in respect of my examination of the Charitys accounts rarried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent Examiner's Statement Your attention is drawn lo the fact that the Charity has prepared the accounts in accordan with Accounting and Reporting by Charities." Slalement of Recommended Practi applicable lo charities pparIng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference lo the Accounting and Reporting by Charities- Statement of Recommended Practi issued on 1 April 2005 which is referred to in Ihe extsnt regulalions but has been withdrawn. l understand that this has been done in order for the accounts to provide a true and fair view in accordan with the Generally Accepted Accounting Practi effective for rerng periods beginning on or after 1 January 2015. I have completed my examirbation. I tx)nfirm that no 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 2011 Act- or the accounts do not accord with thi)se records.. or the accounts do not comply with the applicable requirements conceming the form and content of accounts set out in the Charilies (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf 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 allenlion should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. This report is made solely to the Charitys Trustees. as a body, in accordan with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters l am required to state lo them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law. I do not accept or assume responsibiltty to anyone other than the Charity and the Charitys Trustees as a body. for my work or for this report. Signed.. Dated.. 31 October 2024 Laura Ambrose FCA Haslers, Old Stslion Road, Loughlon, Essex, IG10 4PL Page 8
Docusign Envebpe ID." 25AFOC01-oD28gFB2-B40SD274FCsc CHANCERYGATE FOUNDATION STATEMENT OF FINANCIAL ACMVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricted nds 2023 Totsl funds 2023 Total funds 2022 Not• Income from: Donations and legacies Bank interest 100,000 362 100,000 362 106,26q 107 Total income 100,362 100,362 1Q6,368 Expènditur8 on: Charitable aCtiV.e$ 68.052 68.052 65,001 Total exndituTe 68.052 68,052 65,001 Net movemerrt in funds 32.310 32,310 41,367 Reconciliatron of ftJnds= Total fund5 brought forward Nel movement in funds 109,579 32,310 109,579 32,310 68.212 41.367 Total fund$ carried forvArd 141,889 141,889 109.579 The Stalernent of Finanrial Acb"vitie5 includes all gains and 1055es recognised in the year. The notes on pages 11 to 16 fomi part ofthese financial statements. Page 9
Docusign Envebpe ID." 25AFOC01-oD28gFB2-B40SD274FCsc CHANCERYGATE FOUNDATION BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Current assets Cash at bank and in hand 145,801 111.499 145.801 111,499 Creditors". amtsunts falling due wlhin one year (3,9121 (1,920? Net current assets 141.889 109,579 Total assats loss curr•nt liabilltSès 141,889 109,579 Totsl nèt assèts 141.889 109.579 Charlty funds Restricted funds Unrestricted funds 141.889 109,579 Total funds 141.889 109.579 The financial 31 October 2024 Statements ere approve(l and authon.sed for issue by the and signed on their behalf by.. Trustees on E2Tr.8IQ4E5Iy4£ Chairman The notes on pages 11 to 16 fomi part ofthese financial statements. Page 10
Docusign Envebpe ID." 25AFOC01-oD28gFB2-B40SD274FCsc CHANCERYGATE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUnn9 policlès 1.1 Basis of preparation of financial statements The financial statements have been prep3re(l in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Chartbes". Statement gf Recornmended Practice applicable to charib.es preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {effeth've 1 January 20191, the Finanaal Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 and the Charities Act 2011. The financial statements have been prepared to give a Irue and fairf view and have departed from the Charities IAccounts and Reports) Regulations 2008 onty to the exient required to provide a 'true and fairf view. This departure has involved followng the Chartties SORP IFRS 1021 published in October 2019 r*her than the Accounting and Reporting by Charitie5." Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. Chancerygate Foundab"on meets the defintb.on of 8 public benefit enb.ty under FRS 102. Assets and liabil"e5 are in"allY recogni5ed at historical cost or transaction value unless otherwse stated in the relevant accounting policy. 1.2 Incomè All income is recognised once the Charity has entiuement to the income, it is probable that the income wll be receive(l and the amount of income receivable can be measured reliably. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. 1.3 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer econornic benefit to a third party. rt is probable that a transfer of econtsmic benefits wll be required in settlement and the arnounl of the obligation can be measured reliably. Expenditure is cla55rfied by activity. The cost5 of each activty are made up of the totsl of direct costs and shared costs, including support cost5 involved in undertaking each aclivity. 01ct costs attributable to a single activty are allocated directly to that activity. Shared costs which contribute to more than one activty and supptsrt costs which are not attn"butable to a single activty are apportioned belween those artivilies on a ba51s consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the porbon of the asset's use. Expendrture on charitsble activth"e5 is incurred on direcuy undertaking the acts"v.e5 vknich further the Charity's objectives, as well as any assoaated support costs. l expendrture is indusive of irrecoverable VAT. 1.4 Interest receivable Interest on funds held on deposrt is induded vthen recervable and the arnounl can be measured reliably by the Charity.. this is nomially upon rhotffication of the interest paid or payable by the institutson with vthom the fvnds are deposited. Page11
Docusign Envebpe ID." 25AFOC01-oD28gFB2-B40SD274FCsc CHANCERYGATE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUnn9 policlès Icontlnu8dl 1.5 Cash at bank and in hand Cash at bank and in hand includes cash and short4emi highly liquid investments with a short rnaturity of three months or less from the date of acqLbisition or opening of the deposit or similar account. 1.6 Liabilities and provisions LiabIle$ are recognised vhen there is an obligation at the Balance Sheet date as a result ol a past event. it is probable that a transfei of enoMiC benefit will be requiied in settlement. and the amount of the settlement can be estimated reliably. LiabIle$ are recognised at the amount that the Charrty anb"apates rt wll pay to setue the debt or the amount rt has received as advanced payTnen15 foi the g(x)ds gr seN¢es il must provide. Provisions are measured at the best estimate ol the amounts required to settle the obligation. Where tr)e effect of the time value of money is material. the pmision is based on the present value of those amounts. discounted at the pre-tax discount rate that re11ects the risks specific to the liability. The unwnding of the discount is recognised in the Slatement of Financial ACtive5 as a finance cost. 1.7 Flnancial instrumènts The Charity only has financial assets and financial liabilities of a kind ihat qualify as basic financial instruments. Basic finanaal instruments are inrtialty recognised at transaction value and subsequently measured at their setuement value the excepb.on of bank loans vthich are subsequently measured at arnortised cost usin9 the effective intwest method_ 1.8 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Investment income. gains and10s5es are allocaled to the appropriale fvnd. Incom¢ from donation$ and lègaei¢s Unrnstrlctsd fund$ 2023 Total funds 2023 Total funtls 2022 Donation5 100.000 100.000 106.261 Page 12
Docusign Envebpe ID." 25AFOC01-oD28gFB2-B40SD274FCsc CHANCERYGATE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analysis of expenditure by activities Activitie$ undertaken directly 2023 Support costs 2023 Total funds 2023 Total funds 2022 Grant making activities 66.000 2,052 68.052 65,001 Analysis of dlrnct costs Total funds 2023 Total funds 2022 Grant expenditure 66,000 63,000 Analysis ol support costs Total fund5 2023 Total funds 2022 Bank charges Accountancy fees 60 81 1,992 1,920 2,052 2,001 Independent examiner's remuneration 2023 2022 Fees payable to the Charity's independent examiner for the independent examination ofthe Charws annual accounts 1.992 1,920 Page 13
Docusign Envebpe ID." 25AFOC01-oD28gFB2-B40SD274FCsc CHANCERYGATE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 TTUStees' remuneration and expenses During the year, no Trustees received any remunerth.on or other beneffts (2022- £NIL). During the year ended 31 December 2023. Trustee expenses have been incurred (2022- £NIL). Creditors: Amr)unts falling due wrlhin one year 2023 2022 Trade credf(ors Accrua15 and deferred income 1.920 1.992 1,920 3.912 1,920 Flnanclal Instrumants 2023 2022 Financial assets FinancAal assets measured at fair value through income and expenditure 145.801 111,499 Financial assets measured at fair value through income and expendibjre comprise cash at bank and in hand. Page 14
Docusign Envebpe ID." 25AFOC01-oD28gFB2-B40SD274FCsc CHANCERYGATE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Statement of funds Stat8m8nt offunds- currnnt al Balance at 31 D•c&mbsr 2023 Balance at 1 January 2023 Income Expenditure Unrestricted fvnd5 General Funds 109,S79 100,362 168,0521 141.889 Statgm•nt of funds- prior year 8alanGe at 31 December 2022 Balan at l January 2022 Income E¥penditu Unrèstrfctad funds General Funds 68,212 106,368 (65,001) 1Q9,579 Summary of fund5 Summary of funds - currènt y•ar Balance at 31 D•c&Mr 2023 Balance at 1 January 2023 In¢omg Expgnditure General funds 1Q9,579 100,362 168.052 141,889 Summary of funds - priar yèar Balan at 31 December 2022 Balance ar 1 Januèry 2022 InGome Expenditure General funds 68,212 706,368 (65,QOI} 109,579 Page 15
Docusign Envebpe ID." 25AFOC01-oD28gFB2-B40SD274FCsc CHANCERYGATE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 10. Analysis of net assets betIn fun(ts Analysls of nat ass•ts bat% funds - curr•nt yèar Unrestricted funds 2023 Total funds 2023 Current assets Creditors due wthin one year 145,801 13,9121 14S,801 13,912) Totsl 141,889 141,889 Analysis of nèt ass•ts b•t**•n funds - priar yèar unstricted funds 2022 Total funds 2022 Current assets Creditors due vAthin one year 111,499 (1,920) 111,499 (1,920) Tatsl 109,579 109,579 Page 16