Charity number.. 1192569
CHANCERYGATE FOUNDATION
UNAUDITED
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

CHANCERYGATE FOUNDATION
CONTENTS
Page
Raforgnce and Administrative Details of the Charity, its Trustees and Advisers
Trustees, Report
Trustg8$' R8sponsibilities Statement
Indèpendent Examlnor's Report
Statament of Flnanclal Activltle$
10
Balance Sheot
Notes to tho Flnanclal Statemgnts
12-17

CHANCERYGATE FOUNDATION
REFERENCE AND ADMINISTRATIVE OETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2024
Tru5tee5
A Johnson
V Johnson
A Walker
E J Cty)k
E Mulkem
Charlty reglst&rgd
number
1192569
Prlnclpal offl¢e
Chancerygale Foundation
12A Upper Berkeley Street
London
WH1 7QE
Chalmian
A J¢Jhnson
Ac¢ountant¥
Haslers
Chartered Accountants
Old Station Road
Loughlon
Essex
IG10 4PL
8ankers
CAF Bank
2S Kings Hill Avenue
King5 Hill
West Malling
Kent
ME19 4JQ
Sollcltors
Freelhs LLP
Cumberland Court
80 Mount Street
Nottingham
NG16HH
Page 1

CHANCERYGATE FOUNDATION
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their annual report together with the financial slalements of the Chancerygale Foundation
lor the period 1 sl January 2024 10 31 December 2024.
Objectlves and activitios
a. Poli¢ie$ and objectives
To advance in lrfe and relieve the needs of ywng people from Brrtish black African 8nd Caribbean heritage
minorities who are socially andlor economically disadvantaged through".
lal the provisKJn of grants lo attend a unwer5ity in order lo follw a path into employment in the propety
sector.,
Ibl providing and or assisting in prc¢uring work experience and internships lo students eligible for a grant by
Chancerygate Foundalion".
1¢)
providing support and adwce lo students al schools, colleges and universities about working within the
property seclorlinduslry.
In setting objectives and planning lor aclThiilies. the TrLt$lees have given due consideration lo general guidance
published by the Charity ComMiss￿n relating lo public benefit. including the guidancè 'Public ben¢fil.' running a
eharily IP821'.
b. Stratggie¥ for achlevlng oblectives
Chancerygale Foundation was formed In 2020 by Andrew and Vanzel Johnson together with two other founding
Trustees, Amanda Walker and E￿in Cook. Elizabelh Mulkern was added as a furthèr Tru51ee on 13th May
2022. Consideration will be given lo the addition of further Trustees being added lo the Foundation as and when
Ihg need aris&$ to prOV￿e lor succession and lo improve ils reach and diver$ily.
The Trustees continue lo meet on a regular basis lusualty quartedyl lo rewew and approve applications made by
students for..
financial support by way of a Chancerygate FoUndat￿n bursary.
support in procuring work exper￿nCe.
support by way of advice and mentoring.
In addition. the operational aspects ol Chancerygale Foundation are managed at such fegular meetings and
whefe necessary extraordinary rneelings are ￿lled where matters are of an urgent or specific nature.
Page 2

CHANCERYGATE FOUNDATION
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2024
ObSKtlv&s and a￿l¥ltIeS Icontlnuedl
From the oulsel of forming Chancerygate Foundation th¢ Trustees recognised thal in order lo meet their
objectives to finan¢ially support disadvantaged students by way of a grant lo attend a universi(y il should lonr
close relationship with specific universslies who will promote the Chancerygale Foundation bursary programme,
Initially a relationship was formed wlh LorKlon South Bank Universty ILS8UI and Kingston University where
Ihree-year Gift Agreements were entered into with ea¢h university to support up to two students studying al
LSBU and one from Kingston University. To qualify for a bursary from the Foundation the seleeled 51udenls had
lo be undertaking a degree course accredited by The Royal Institution of Chartered Surveyors. 11 was fell that
having an arrangement with these univer511ies would enable our limited resources lo be utilised more efficiently
with the univer$ilie$ selecting suitable candidates who meet the Foundalion's qualifying crileria. 11 is regrellable
thal during 2023 we had little option bul lo lemiinale our Gift Agreement wlh LSBU as a result of chango in
personnel and lack ol adminislralion SUPP¢)rt al this universrty. However. the Trustees decided to continue with
supporting the students Il had al thi5 university on a direct basis and not via the university. During 2024,
discussions were undertaken and had with Universty of Weslminsler wrth a view lo forming a relationship with
UW in the same way that we have formed a relationship with Kingston University lo select 51udenls. As a result
ol thos& discussions. l am pleased lo report that we entered into a contractual relationship with the University of
Weslminsler where we have agreed lo support at least one student over the next 3 years subject lo them
meeting our crilgria wrthin their applicat￿n¥.
c. Actlv5t188 undertaken to achleve oblKtlves
During 2024 a grant of £10.000 was once again committed lo just one sludenl al Kingston Univor5ity who w8S
undertaking her final year of study in Real Eslale Management b&fore graduating in 2025. Unfortunately, th8
other Student we were supporting al Kingston Univefslty also studying Real Estate Management failed lo gain the
requisite grades al the end of his second year and therefore did not proceed lo continue w11h his cour59 in his
final year.
Two olhef students who ordinanly would have received financial support from the Foundation studying Building
Surveying al LSBU and Quantity Survewng at Loughborough Universrty decided lo lake a placement year in
industry before returning lo undertake their finals in 2025. As such these two students undertaking a plac&menl
year did not receive any linaneial support Irorn the Foundation in line with rts Selection policy but will do so when
they return In September 2025 to undertake their final year of sludy. The sludenls do however ccnlinue lo
receive other support by way of Mont￿Ing and *tendance al events arranged by Chancerygale Foundation.
Three students who commenced their Second year al study also received a grant of £10,000 from the
Foundation. Two are studying Real Eslale Management at Kingston University where our payment is made via
the Gift Agreemenl we have ￿th this institution wth the third sludying Land Economy al Cambrkdge where we
make payment direct lo the sludenl.
During 2024 three students were selected as our fourth cohort lo weive a gfanl from Chancerygale Foundation
and Commenced their degree courses In September 2024. Each sludenl received a grant of £10,000. Two are
studying Quantity Surveying and Real Estate Management al Kingston Universty The third sludenl is studying
Real Eslale al the University ol We5tminsler. All grants are paid via the Gift Agreement we have in place with
8ach sludenl's respeclNe university.
As in previous years all of our students were ass¢gned a mentor. a key professional within the real eslale sector
wtto they can ask advice and support during their learning experience a5 a sludenl al university. The slLJdenls
along with mentors were invited lo allend various social gatherings and presentations from Industry professionals
and past students al the offices of Chancerygale Ltd during the year with the objective ol providing Iherll with
some insrghl into working life as well as creating a close relationship wth them so as to understand their needs.
Whilst pastoral care is given by the unNersrty. by having such gatherings il continues lo be a good way of seeing
how each student is progressing and to ensure any additional support they might need is recognised.
Page 3

CHANCERYGATE FOUNDATION
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2024
Oblectlves and activiti&$ lcontinuedl
d. Main activities undertaken to further the Charity's purpose$ for the public bènefit
In addition lo fomiing an association wrth universities ar￿ speaking lo students who come lo us wa our c)wn
website we also undertake regular promoknon of our activities via social media.
Chancerygate FoundalKJn Continue to colk1b￿aIe with The Land Collective working with school year 12 and 13
students considering a career in the real estate industry along with IntoUniver$ity in providing career advice lo
school year 9 51udenls from The City Academy. Hackney.
We &ncpurage our students lo be arnba5sador5 for our cause. One of the 5tudenl$ who we supported and
graduated from Kingston University gave a presentation about her jouiney and the hurdles she had to overcome
lo a group of students on the Black Gids in Prcpety cOu￿e organised by ihe Land Colleclwe.
Our work also involves collaboration wrth We Rise In wth all our 51udenls invrted lo their Leadership Summit lo
hear from black professionals lor inspirali¢)n and nety￿rking.
In addition lo organizing sile visi15 and w¢)rk experience through our eonlaels within the industry Chancerygale
Foundation has also collaborated wrth leading real estate practice, Savills lor their Graduate Placement
Presentation as well as wlh Lockton. a leading fimi ol in$yranc¢ brokers Specializing in the r&al eslale sector
who through thèir employabilily sessions gave slLsdenls rec*ve advice on inleryiew tochnique, CV writing and
applying for Job roles.
Page 4

CHANCERYGATE FOUNDATION
TRUSTEES. REPORT ICONTINUED)
FOR THE YEAR ENDED 31 DECEM8ER 2024
Acttievernents and perfomiance
a. Main achlev•ments of the Charity
Chancerygale Foundation continues lo make rtself kntY4*n in the propèty world from the work it undertakes and
through awareness via ￿levant socral media plaiforms.
The Trustees are particularly proud of tsvo 51udenls fr¢>n our very first cohort of three that we started lo support
in 2021 who comploted their degree courses in the summer of 2024 wlh one achieving a fir51<lass honours
degree and the other a higher second-class honours degree. Both have been able lo use their academic
achievements lo start full time employment wrth ieputable firm$ in the real eslale sector. 11 is also refreshing lo
see how these students have grown in personality and confidence not onty as a rgsull of the support and
guidance from the Foundation and Ils industry contacts bul also through their own dedication and hard work. We
maintain conlacl wrth these students and wsh them well in the ￿TeerS going forward.
As with our lirsl two students who have graduated in 2024. we are also proud lo see of our students from our
second cohort undertake a plaeemenl year in industry before returning in 2025 to undertake their final year DI
Ihgir degree. With Ihe guidance of their assigned mentor5 both students have Ihemselves found placements with
oxcellenl professional fims lo complement their cours8 of study and lo gain 9t￿ piaclical experiencè.
Whilst we are disappointed lo have had students who have not continued with their c¢ur58 of study il is
recognised by the Trustees that this is a far l¢)wer number than we expected from the outset given the difficult
backgrounds our students come from. In each ease we have underslood the difficultie5 each student has had
resulting in them not continuing Iheir course and we have tried lo help them in any way we can. Importantly we
learn from these experiences and make provision going fO￿ard in the same way that we learn from our
SU¢¢9S59S.
Along with oifier organisalions trying lo creat6 more equity. diversity and inclusion in the real eslale industry the
Foundation each year is gaining greater recognition as a charity that support$ young people from British black
African and Caribbean heritage minorrties who ale Social￿ andlor economically disadvantaged. We continue lo
learn in all that we do and the Trustees are proud ol what has been achieved in such a short space of lime Since
Chancerygale Foundation was established just five years ago. In particular the Foundation is proud lo have been
able lo support 13 students with grants of £10.OOOpa throughout their universty years bul also and of equal
importance lo provide these sludenls with guidance and pastoral eare through the mentors rt allocates lo each
sludenl and providing the opportunity lo go on lo achieve a professional career in real estate.
Particular thanks go to Amanda Walker who as a Trustee of the Foundation is also Foundation Dire¢lor of our
501e benelaclor, Chancerygale Ltd dealing ￿th the fim)s CSR Inilialives alongside her role as a Trustee.
Amanda works lirelessly and forms a strong bond wrth the students we support. The care and empathy she
provides lo the students is invaluable and whilst hard lo quantify is certainly a contributor to the students gaining
success within their academic studies al university.
Financial r&viow
Going concern
After making appropriate enquiries. the Trustees have a reasonable expectation that the Chancerygate
Foundation has adequate resources lo continue in operational exislenee lor the foreseeable future. For this
<eason, they continue to adopt the going concern basis in prepanng the financial stalemenls. Further delai15
regarding the adoption of the going concem basis can be found in the accounting policies.
Page 5

CHANCERYGATE FOUNDATION
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2024
b. Res8rves policy
Chancerygale 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 15 to maintain sufficient capital fund5 al a level which
they Judge lo be necessary to meet Chan¢erygale Foundation's objectives and financial obligations lo third
parties.
Structur•, governance and managfrment
a. Constltutlon
Chancerygale Foundation is a re9l$tered chaiity, number 1192569, and is consliluted as a Charitable
Incorporated Organisalion. The only voting members are i(s chanty tiuslees. Ils constitution document is dated
15th July 2020 and regisleied with the Charity Commission.
b. Mgthods of appointment or tr18ction ol Trustèes
The management of Ihe charity is the responsibility of Ihe Trustees who are elected and co-opted under the
term5 01 Ils Charitable Incorporated Organisalion constsluts'on d￿Ument dated 15th July 2020.
In accordance with Chancerygale Foundation's Goveming D¢xumenl and Constitution dated 15th July 2020,
Edwin Ctx)k was duly reappointed in 2024 for a lurthei years until 30th April 2026.
In accordance wth Chancerygate Foundation's Governing Document and Constitution dated 15th Juty 2020.
Elizabeth Mulkern was appointed as a Trustee on 13th May 2022 for a pefi¢)d of ￿ year5 and reappointed in
2024 lor a further 2 years.
In accordance with Chancerygate Foundation $ Governing Document and Consb"lulion dated 1 5th July 2020,
Amanda Walker was duly reappointed in 2023 as a Trustee for a further two years until 30th April 2025.
Andrew Johnson and Vanzel Johnson We￿ initially appointed as Trustees on 1st May 2020 and 16th September
2020 respectively lor a penod of 4 years and Iherelore each were reappointed in 2024 for a further 4 years.
Page 6

CHANCERYGATE FOUNDATION
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Plans for futurg perlods
Going forward, Chancerygale Foundation eonlinues to consolidate ils current offering of providing bursaries and
support lo di5advanlaged students via a wider neNwrk of univer5rties throughout the UK. Having EIEabelh
Mulkern as a Trustee and based In the north of the country enable us lo make more connKtions with 51udenls
outside of London and the southeast where our acliwty Is currently coneenlraled. The appointment of further
Trustees in the future will also help with widening our scope of actwity.
With our website and marketing inilialives through social media becoming more noticeable lo the public il was
hoped that we would be able lo gngage with sludenl$ directty rather than mostly through the arrangements we
currently have wrth two universilies. However. that has not proved lo be the case and whilst we will Continue our
efforts lo lake applications from student's directty our success in supporting students lo dale has largely been
through the association we have wrth ￿ universilie5. With us no longer having an association with LSBU by
way ol a Gift Agreement our selection of students Is now taken from Nvo universities
Kingston and
Weslminsler. We commenced discussions wlh Wesfminslef as a replacement for LSBU and we arg pleased lo
have filled that void. As resources permrt. we continue lo wden our scope lo fom yimilar alliances wrth more
universities lo those we have currently.
Whilst our main activities are currently focused on undergradualg students looking lo undertake a
propertyleonslruction related degree through universty we will also be continuing a dialogue with schools and
colleges in order lo gain aceess lo $¢hool age pupils lo widen Iheii knowledge about a career in the prgperty
sector and what opportunities may exist including the support through our bursary programme.
Approved by crder of I
embers of the board of Trustees on 14 August 2025 and signed on their behalf by..
A Johnson
Chairman
Page 7

CHANCERYGATE FOUNDATION
STATEMENT OF TRUSTEES, RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trusl&es are ￿$F)onsible for preparing the Tru5tees' Report and the financial slalements in accordanco with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Praclicel.
The law applicable lo charities in England & Wales requires the Trustees lo prepare financial statements for
each financial which give a true and fair wew of the state of affairs of the Chanty and of ils incorning resources
and application of resources. including ils income and expenditure, for that period. In preparing these financial
slalements, the Trustees are required lo..
select suitable accounting policies and then apply thern consistently.,
obseNe the methods and principles ol the Charitie5 SORP IFRS 1021,
make iudgmenls and accounting estimates that ale reasonable and prudent..
Stato whether applieable UK Accounting Standards IFRS 1021 have been followed, subject lo any material
departures disclosed and explained in the financial slatemenls..
prepare the financial slalem¢nts on the going concern basis unless (( is inappropriate lo presume that the
Charity win continue in business.
The Truslges arg responsible for keeping adoquate accounting rgcords that are sufficient lo show and explain
the Charity's transactions and disclose with reasonable accura¢y al any lime the financial position of the Charity
and enable them lo ensure that the financial slalemenls comply with the Charities Acl 2011, the Charity
(Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible lor
safeguarding the a$s&ls ol the Charity and hence for taking reasonablo steps for the prevention and detection of
fraud and other irregularrties.
Approved by order o
e mèmbèr5 of the board of Tnjstees on 14 August 2025 and signed on ils behalf by..
A Johnson
Chairman
Page 8

CHANCERYGATE FOUNDATION
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Independent Examiner's Report to the Trust80s of Chancerygato Foundation I'the Charity'l
I report lo the charity Trustees on my exaninab.on of the acc(yJnts of the Charity for the year ended 31
December 2024.
Responsiblllties and 8asi$ of Report
As the Trustee$ of the Charity you are responsible for the preparation of the accounts in aceordance with Ihg
requirements ol the Charities Act 20111.lhe 2011 Acri.
I report in respect of my examination of thè Charivs accounts carried out under section 145 of the 2011 Act and
in carrying DUI my examinalion I have foll¢)wed the applicable Directions gNen by the Charity Commission under
section 14515llbl of the 2011 Ad.
Indepgnd&nt Examlntls Statement
Your allenlion is drawn lo the fact that the Chaiity has prepared tho accounts in accordance with Accounting and
Reporting by Charities. Slalemenl of Recommended Practice applicable lo charities preparing their accounts In
accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland IFRS 1021 in
prelergnce lo the Accounting and Reporting by Charities". Statement ol Recommended Practice issued on 1 April
2005 which is referred lo in the extant regulations bul has been wlhdrawn.
l understand that this has been done In order for the aecounts lo piowde a truo and lair view in accordance with
the Generalty Accepted Aecounling Praclice effects.va for reporting periods beginning on or after 1 January 2015.
I have wmpleled my examination. I confim that no matters have c¢)me lo my attention in connecli¢n with the
examination giving me cause lo believe that In any material respect..
accounting records were not k8pl in respKt of the Charity as required by Sects'on 130 of the 2011 Act,. or
the accounls do not accord with those fecords.. or
the accounts do not comply with the applicable requirement$ concerning the form and eonlenl of
accounts sel out in the Charitie5 (Accounts and Rep¢)rtsl Regulations 2008 other than any requirement
that the accounts give a 'lrue and fairf view which is not a matter eonsiderad as part of an Independent
examination.
I have no concerns and have come across no other matter5 in connection with ltte examination lo which
attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached.
This report is made solety lo the Charity's Twslees. as a body. in accordance wrth Part 4 of the Charities
(Accounts and Reports) Regulations 2008. My work has been undertaken so that I might slate lo the Charity's
Trustees those matters l arn required lo slate lo them in an Independent Examiner's Report and for no other
purpose. To the fullest extent permrtted by law. I do not accept or assume respx)nsibility to anyone other than the
Charity and the Charitys Trustees as a body. for my work or fot this ￿port.
Signed..
Dated". 14 August 2025
Laura Ambrose
BA (Honsl FCA
Haslers, Old Station Road, Loughton. Essex. IG10 4PL
Page 9

CHANCERYGATE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
As Trst&led
Total
funds
2023
Unrestricted
fund$
2024
Total
funds
2024
Note
Income from-
Oonalions and legacies
Bank Interest
110,000
387
110.000
387
110.000
362
Total Income
110.387
110,387
7 70,362
Expendltur• on..
Charitable activities
103.148
103.148
78.052
Total exp•ndlture
103.148
103,148
78.052
N&t movement In lunds
7,239
7,239
32,310
R•¢on¢lllatlon ol fundy..
Total funds brought forward
Nel m¢vem8nl In funds
141,889
7,239
141,889
7,239
109.579
32.310
Total lunds carrfed foFwafd
149,128
149,128
141.889
Tho Slatomenl ol Financial Activities includes all gains and losses recognisod in the year.
The notes on pages 12 10 17 fom part of these financial slalemenls.
Page 10

CHANCERYGATE FOUNDATION
BALANCE SHEET
AS AT 31 0ECEM8ER 2024
2024
2023
Noto
Current assets
Cash al bank and in hand
151.169
145.801
151,169
145.801
Creditors.. amounts falling due wlhin one
year
12.0411
(3, 912)
Net current assets
149,128
741,889
Total assets less curront liabiliti0$
149.128
141, 889
Total net assots
149,12B
141.889
Charfty funds
Unreslricleé funds
149,128
141, 889
Total funds
149.128
141.889
The financial stalgmenls wefe approved and authorised for issue by the Trustees on 14 August 2025 and signed
on their behalf by.
Chairman
The notes on pages 12 10 17 form part of these financial slalements.
Page 11

CHANCERYGATE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
1.1 Basis of prèparation of financial statements
The financial stalement5 have been p￿pared in xcordance wth the Charities SORP IFRS 1021
Accounting and Reporting by Charities." Slalement of Recommended Practice applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021 leffeclive l January 20191, the Financial R&porting Standard
applicable in the UK and Rfjpubl￿ of Ireland {FRS 1021 and the Charities Act 2011.
The financial statements have been prepared lo give a 'lrue and fairf view and have departed from
the Charities (Accounts and Reports) Regulations 2008 only lo the èxlenl required lo provide a 'lrue
and fair, view. This departure has involved followng the Charities SORP IFRS 1021 published in
October 2019 rather than the Aecounling and Reporting by Charit￿$.. Slalemenl of Recommended
Practice effective from l April 2005 which has since been withdrawn.
Chancerygale Foundation meets the definrtion of a public bènefit onlity under FRS 102. Assets and
liabilities are initially rgcognised al historical cost or lransacts.on value unless otherwise slated in the
relevant accounting policy.
1.2 Income
All income is recggnised once the Charity has enlillement to the incomè, Il is pr)bable that the
income will bg rgceived and the amount of incomè receivable can be measurgd reliably.
Income lax recoverable in relation lo investment income is pcognised al the limg the inveslmonl
income is receivable.
1.3 Expendltur?
Expenditure is recognised once there is a legal or constructive obligation lo transfer economic benefit
lo a third paty. il is probable that a transfer of economic benefits will be required in selllement and
the amount of the obl￿allOn can be measured reliably. Expenditure is classified by aclivrty. The costs
of each activity are made up of the lolal of dirod costs and shared costs, including support C0515
involved in undertaking each activity. Direct costs attributable lo a single acliwty are allocated dire¢lly
to that activity. Shared costs whKh contribute lo more than one activity and support costs which are
not allribulable lo a single activity are apportioned befv￿n those activities on a basis eonsislonl with
the use of resources. Central staff costs are allo¢ated on the basis of time spent, and depr&cialiDn
charges allocated on the pO￿.0n of the asset's use.
Expenditure on charrtable activities is incurred on directty (rndertaking the activities which further the
Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
1.4 Int8rest recelvable
Interest on funds held ￿ deposrt 15 included when receivable and the amount can be rneasured
reliably by the Charity". this is normalty upon notification of the interest paid or payable by the
inslilulion with whom the funds are deposiied.
Page 12

CHANCERYGATE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng policies {¢ontlnuedl
1.5 Cash at bank and in hand
Cash al bank and in hand includes cash and short-term h￿hty Iiquhl investments wrth a short malurrty
of three months or less from the dale of acquisilton or opening of the deposit or similar account.
1,6 Llabllltles and provisions
Liabilities are reccrfJni5ed when the￿ is an ct•ligation al the Balan￿ Sheet dale as a result of a past
event. il is probable that a transfer of econ¢>ni¢ benefit wll be r￿U•re￿ in selllemenl, and the amount
of Ihe selllemgnt can be eslimaled reliably.
Liabilities are reeognised al the amount that the Charity anlicipales it will pay lo sellle the debt or the
amount il has received as advaneed payments for the goods or services Il musl provide.
Provisions are measured al the best estimate of the amounts required to sellle the obligation. Where
the effect of the lime value of money is material. the provision is based on the present value of those
amounls, discounted al the pre•lax discount rate that reflects the risks specific to the liability. The
unwinding of the dis¢ounl is recognised in the Slalemenl of Financial Activities as a finance cost.
1.7 Flnanclal Instrumènts
The Charity only ha$ financial assets and financial Iiabililies ol a kind that qualify as basic financial
inslrumenls. Basic financial instruments ale inilialty recognised al Iran5a¢lion value and subsequently
measured al their settlement value wrth the exception ol bank loans which are subsequently
measured al amortised ¢osl using the effecttve interest method.
1.8 Fund accounting
Ggngral funds are unreslrided funds which are available for us& at the diserètion gf the Tru51ees in
furtherance of the 9en8cal objectives of the Chafity and which have not been dgsignaled for other
purposes.
Investment income, gains and losses are allocated lo the appropriate fund.
Incomè from donatlons and legacies
As restaled
Total
funds
2023
Unrestrieted
funds
2024
Total
funds
2024
Donations
Donated serwces
100.000
10.000
100,000
10,000
100,000
10,000
110.000
110.000
110.(WO
Page 13

CHANCERYGATE FOUNOATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Analysis of expenditure by actlvtties
Activitie$
undertaken
directty
2024
As ￿$tated
Tol&l
funds
2Q23
Support
costs
2024
Total
funds
2024
Grant making activities
91.OCh)
12.148
103,148
78.052
Analy$is of dlrect costs
Total
funds
2024
Tolal
funds
2023
Grant expenditure
91,000
66.000
Analygls of Support costs
As rgstaled
Tol81
fvnds
2023
Total
funds
2024
Bank charges
Accountancy fees
Personnel costs
60
2.088
10.000
60
1,992
10,000
12,148
72,052
Independent examinerfs remuneration
2024
2023
Fees payable to the Chartys independent examiner for the independent
examination of the Chartys annual accounts
2,088
1.992
Page 14

CHANCERYGATE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
TrustO0s' remuneration and expenses
During the year. no Trustees received any remuneration or other benefits (2023- £NIL).
During the year ended 31 December 2024. no Trustee expenses have been incurred (2023- £NIL).
Creditors.. Amounts falling due wlthin oné year
2024
2023
Trade creditors
Accruals and deferred income
1, 920
1.992
2,041
2.041
3.912
Flnanclal instruments
2024
2023
Flnancial assots
Financial a$sel$ measuied al fair value through income and expenditure
151,169
145.801
Financial assets measured al fair value through income and expendrture comprisa cash al bank and in
hand.
Prlor year adjustments
A prior year adjuslmenl of £10,000 has been madg lor the year ended 31 December 2023 for the donated
serviees from Chancerygale Limited.
This has been explained in Note 13.
Page15

CHANCERYGATE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
stst¥ment of funds
Statement of funds- currant year
Balance at
31
Decgmb&r
2024
Balance al 1
January
2024
Income Expendltur•
Unrastrlclgd funds
General Funds
141,889
100,387
193,1481
149,128
Statèment of funds - prlor year
Balanc& al
31
l January As restated As Trslat&d Dgcember
2023
Income Expenditur&
2023
Unrgstrlcted lunds
General Funds
109.579
110.362
(78.052)
141, 889
10. Summary offunds
Summary offunds. current year
8alanco at
31
December
2024
Balance at 1
January
2024
Income Expenditure
General funds
141,889
100,387
193,1481
149,128
Summary offunds- prlor year
Balance al
Balance al
37
l January As reslated As restated December
2023
InGome Expendilur
2023
General funds
109.579
110,362
(78,052)
141, 889
Page 16

CHANCERYGATE FOUNOATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Analysis of net assets between fund$
Analysis of not as$8t$ between funds - current pariod
Unrestricted
fund$
2024
Total
funds
2024
Current assets
Creditors due within one year
151,169
12.0411
151,169
12,0411
Total
149.128
149,128
Analysls of not assets betweèn funds- prior ￿rIOd
Unr8Stncl8d
lunds
2023
Tot81
funds
2023
Current assets
Creditors due wrthin one year
145,801
(3.912)
145, 807
(3, 912J
Total
14 1, 889
741.889
12. Grant cornmltments
The Foundation are committed lo pay out £66.000 over the next year. £61,000 has been committed lo be
paid out over the next years and beyond.
This wll be funded by the annual donation received from Chancerygale Limited.
13.
Rolat8d party transactlons
Chaneerygale Limited made an unrest￿ed donatK)n of £I00,00012023 £100,000) in the year.
Chancerygale Limrted incuryed £10.000 for the personnel costs for the running of tha Foundation during
the year which has been recognised as a donated $erwce.
Page 17