Charity number: 211029 FREDERICK ANDREW TRUST UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
FREDERICK ANDREW TRUST CONTENTS Page Refarenco and admlnistratlve detslls of the Inrt its Trusteès and advisors Trustees. rgport Independent examinevs report Statement of financial a¢tlvittes Balance Sheet Notes to the financial statements 9-18
FREDERICK ANDREW TRUST REFERENCE AND ADMINISTRATIVE DEfAILS OF THE TRUST. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023 Tntstees P Denby W Gelder C HeppEnstall {resigned 26 September 20231 R Lamb, Chair J Spenr A Strawson C Vrtoria Charity Registered Number 211029 Principal 0ffi¢g cjo Mrs Karen Armrta3e PO Box 1291 Lincoln LN5 5RA A¢¢ountants Streets Chartered Accountants Lucy To•ver Street ncoln LN1 1¥v Banker8 Nat81 Weskninster Bank 225 Hb Street Lincoln LN2 1AZ Sollclto Chattertons St Swithin's Court 1 Flavran Road Nettleham Ro&1 Lincnln LN2 4GR Investment Advisor5 RBS Brewtn Ct)Iphin olpIC House D(mYdIng Road Lincoln LN6 3SE Page 1
FREDERICK ANDREW TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The truste8s present their annual report together with the financial statements for the year from 1 January 2023 to 31 Drnber 2023. The trustees confim7 that the Annual RerK)rt and financtal statements of the company comply with the cuffent statsjtory requirements. the requirements of the companys goveming document and the provisions of the Statement of Retx)mmended pract ISORP}. appIable lo charities preparing their accounts in aco)rdance with the Financial RewrbrKJ Standard app1Kre in the UK and Republie of Ireland IFRS 102). Structhre. Govgrnanco and Management Constitution The trust is an unincorporated trxty. orvJinalty established on 12 February 1922 and endowed under the will of the late Mr Frederk Andrew, a well known SO1110[ in Lincoln who died in 1916. Onginally the trust maintsined a convalent h(e to provide conVa&sCen after illness Yor gentlewomen hOn&Y striving to eam their own living.. The Iwst [5 now adMIntered under a Charity C¢Jnmi&SnerS. Stheme dated 29 June 1970 and amended 2 January 1976. The trust makes grants lo indivKliJals to enab them to benefit from convalescence and Health and Care Professions Couneil therapEs, and to institutions provIng appropriate facilities for convalescence. The scheme appl solely to women and nthv applies lo those who are rets.red as well as those eaming their own INing. It ss administered withoErt regard to r. creed or the w[it11 viv•ts of the beneficiaries. The trustees who served during the year are given on the Referen and AdminFstrative Details on page 1. Policies ed for the Ind cb.on an Trainin (rf Trustees The trust is administered by a body of trustees. whh when complete consists of seven competent persons. Each trustee is apKKJinled for a term of fve years by a resolution of the trustees passed al a special meeting of which not less than 21 days notice has been given and may be so appoinled nol more than one month before the terni of the existing tTUStee expires. Upon the occurrence of a WdcanGy the tnjstees shall cau a note thereof to entered in their minute book at their next meetsng. Any competent ttustee may be reappointed. New twslees are sought from suttable volunteers hokling the skills most required by the board at that time. On appointrment new trustees sign a declaratll of a(eptan and of willingness lo act in the trusts of the scheme and are appropriately Inducted and trainj. being briefed on the history of the trust, the operation of the grant applicat W¢Edure and aFe given a copy of the Chanty Commiss#)n Guidanc" The Essential Trustee." What you need to know, What you need to (tr". anisational Structure Decision Makin The trustees meet at least t"ce a year to agr the broad strategy and areas of acb.vtty of the ttust. including consideration of grant ming. investment polry, reserves. risk management pol¢e$ and promob.on of the trust The day to day alministsation of the trust is deated to the cjertt to the trnslees. All applicatnS for grants are initially receivaj by the derk. These are then passed to appointed trustees for consideration al periodic intervals throughout the year. All other matters are detemiined by the majority of votes of the trustees present and voling on the question. The trustees have full tM)wer from time to time to make regulations for the management of the charity and for the conduct of their business induding the summoning of meetings, the appointrnent of a derk. the depo&t of at a yoper bank. and the custody of dctuments. The trustees are considered to be the key rrranagement personnel. Ixrt are not remunerated. ement The trustees have considered the major risks lo whth the trust is exposed and have reviewed those risks and are satisfied that systems are in pla to manage those risks. In pathcular the trustees continue to monitor the perfomiance of investrnents to ensure sufficient inc* is genera to sUpF1 the level of grants being made. Page 2
FREDERICK ANDREW TRUST TRUSTEES. REPORT (CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Obj8cttves and Actiyitios Policies and Ob'ectives In setting obJ'ecb"ves and pLgnning for activibes. the trustees have gNen due consideration to general guidan published by the Charity Commission relating to publ benefit The charitable obJ"eL* of the trust is detsiled with the Charity cCMiSsion as". "assisting the restoration to health of such benefficiaries by the chanty as the govemors may select erther by making grants to defray the expense of recuperatNe h or other convalescent treatMt or by making (k)nats"ons or pawng subscriptions in aNJ of the funds of any convalescent home or other institution or organisalion at or from which the beneficbaries of the charty may rece¢ve care and relief. Any income not required for application in the above manner may be aFplied for retired women who are in need of Convalescen and financial assistsnce who were otherwse fomierty qualtfied as benefiuaries of the charty." Activities for Achievin The trust's main &ttvity is to award grants lo women for conrdlescw. te help or Health and Care Prof&ssions Council registered therapies foll(Y4ving illness or injury. The trustees aim to disthbute the income by the Injst in the most apwwriate way to best fijlfil the key needs of ts eligible applInts and within the temis of lis charrtable scheme. The trustees continue to devote me and resou$ to advethsing and promoting the trust and continue to u)nsult wrth fftssional advisors to assist wth this funckn"on. Their aim is to receive SLrfficient grant applications to enable income generated during the year to be applied for ts charitable purpose. InfornialK)n on Fundraisin Prackn The trust is funded thriHJgh investrnent iome from its investrnent portfolios wvj cash reserves. It therefore does not actNety fundraise. Achievements and Perfornnce Revw ofActivities Total investment income has increased from the previous year being £78,127 {2022 - £74,254). Grant expendtture for the year is £64,517 {2022 - £69.3251. During the year. 143 grants12022 - 127 grants) were arded by the trustees with the increase in the number of grants being due to the increased mafkeb.ng "vIty idIng embwing online. The grant makn'ng process has remained the same during this per. Overall. the net movement on funts IndlIng movements on investrnents for the year was a surplus of £786 (2022 - deficit of £264.018) mainly the result of the change in mathet value of the investment rKJrtfolios held. Financlal Review Investrnenl Review Overall. the market value of the trusvs investment porttolh)s has de(Te by £3.425 from £2,071.659 10 £2,068.234. In line with the Chariknes Act 2011, the investments a shown al market value. The managernent of the investment portfdio is undertaken by RBS Brewn Dolphin. The perfom)ance of investsnents is conlinijousSy under review by the trustees. RBS Brewin Dolphin are represented at one trustee meeting each year. Page 3
FREDERICK ANDREW TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEM8ER 2023 Reserves Poli The revel of unrestrted reserves hekl by the trust i8 sufftient to ensure the trust's ability to conts.nue for the foreseeable future. in provKling ffijnds to respond lo apltiOnS for grants and cover support and governan costs. The tnjslees remain mindtul of flu(aatK)ns in investment values and the likety income. The tnjstees conssder that the twst will have sufficient reserves to meet the demand for grants. in par[ular as many recipients may have to delay taking their grant due tr) the ongoing pandemic, in tum delayÉng the trme taken before the twsl needs lo release the cash. Goin Conce After rnakn.ng apwrcpfiate enquiries, the trustees have a reasonle expatIon that the tnjsl has adequate resour to contsnue in operatTraI existen for the foreseeable future. For this reason they continue to adopt the going conrn basis in Pfeparing the financial ststements. Plans for FuturE Periods Future Develo men15 The trust will continue to build on its marketing strategy to pmote tr profile of the trust and continue to piovide grants to women lo enable rest and recupefation by eith a short break away, the temporary piovision of domesb'c help or lo receive Health aNJ Care Professions Counctl theraps. The tFLSStses are Icxjking into creating an online application lonn to hdp streamline the application prccess. The trustee5 are commit1 to their continued financial support ofthe Pink Ribbon Programme. TRUSTEES. RESPONSIBILITIES STATEMENT The trustees are responsible for preparing the Twstees. repxl and the financial ststemenls in accordance with applicable law and United King(S)m Accounting Standards (Uniled lQng(h)m Generally Accepted Accountsng Practtcel. The law applicab to chartties in EngLand & wa wuires the trustees to wepare financial ststemenls for each finanal year whth give a true and faif view of the state of affairs of the trust and of the incoming reSoUS and appIltion of resources of the trust for that penod. In preparirg these financsal statements, the tnjstees are required lo". select suitable acnting poIleS aThl then apply them consistentty,. obse¥ve the methods and princip in the CharJb"es SORP,. make jLFdgmenls and accounting ests"m*es that are reasonable and pnjdent," state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements., and prepare the financial ststements on the going COnM basÈs unless rt is inappropriate to presume that the trust will continue in OFeration. Page 4
FREDERICK ANDREW TRUST TRUSTEES. REPORT ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees are responSie for keeping proKtr accounting re(ths that are sufficienl to show and explain the trusvs transactions and disclose wrth aSOnable accuracy at any "me the finanoal posibon of the twst and enable Ihem to ensure that the finanaal statements (x)mpty wrth the Charibes Act 2011. the Charity {Account5 and Reports) Regulation5 2008 and the provisions of the tnjst deed. They are also responsible for safeguarding the assets of the tnjst and hence for tsking reasonable steps for the prevention and deteth.on of fraud and other irreguLanb"es. )proved by Order of the rneMbe of the tKBrd of trustees on 21 May 2024 and signed on their beha by.. R Lamb. Ch Page 5
FREDERICK ANDREW TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Endowment Unrestricted funds funds 2023 2023 Total funds 2023 Total funds 2022 Income and endowments from: Investments 66.908 11,219 78.127 74,254 Total income and endowments 11.219 78.127 74.254 Expendlture on: Raising funds Charrtable aclivib.es 2.635 3,452 87.746 6.087 87.746 5, 133 88,488 Totsl oxpenditurE 91.198 93.833 93.621 Net incom• l {èxpenditurel before nat (losses) I gains on Investments Net Ilossesl I gains on investments 64.273 111 9.979 4.935 (1S.706) 16.492 (19,367) (244,651J Net (expenditure) I Incomo Transfers belween fvnds 75.830 165.690) (75.0441 65.690 786 (264,018) 13 Nel movement in fvnds 10.140 (9,354) 786 (264,018) RgconcÉliation of nds. Total funds brought fotward Net movement in funds 1.674.393 10.140 417.783 19.354) 2,092.176 2,356, 194 (264,018J Total funds carried forward 1.684.533 408.429 2.092.962 2,092, 176 The ststent Offinancl aCtm indu(*s all gains and losses raxgnised in the year. The notes on pages 9 to 18 fomi part of these finanoal statunents. Page 7
FREDERICK ANDREW TRUST BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Ftxed assets Investments 2.068.234 2.071,659 2.068.234 2,OT7,659 Current as8ets Debtors Cash at bank and in hand 1.091 23.092 27.609 28.108 24,183 Cr&litOTs". amounts falling due wrthin one 12 (3.380) (3,666) Net current ass•ts 24.728 20,517 Totsl assets IS current liabilities 2.092.962 2.092, 176 Net assets excluding pension asset 2.092.962 2,092, 176 Total net assets 2.092.962 2,092, 176 Charity funds Endowment funds Unrestricted funds 13 1.684,533 408,429 1,674,393 417,783 13 Total funds 2,092.962 2,092. 176 The financial ststements were apyove(f and authorised for issue by the trustees on 21 May 2024 and sned on their behalf by. R Lamb, Cha The notes on e$ 9 to 18 form part of these financaal slatements. Page 8
FREDERICK ANDREW TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 General informalion As set out in the Trustees. let Fredertck Andrew Trust is an uninu)rporated registered charity in England & Wales. The wincipal office of the trust is under clo Mrs K2ren Annilage. PO Box 1291. Lincoln, LN5 5RA. The trusfs main a(knty is to award grants to women for convales1Ce. home hel) or health and care professions council registered therapies follo"ng illness or injury. Further details atrt the trusys main aclivibes can be found in the Trustees. reporl Accounting policies 2.1 Basis of preparatlon of financial ststements The financial statements have bn prepared in ac(xJrdance Accounting and Reporttng by Cha¥tiies." Statement of Recommended prtr"ce arplicable lo chafib.es preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland IFRS 1021, the Financial Rep)rb"ng Starnlard appIab in the UK and Republic of Ireland {FRS 1021 and the Chanties Act 2011. Frederid( ArKlrew Trust meets the definrtwjn of a KKlIC benefrt entty under FRS 102. Assets and li8bilities are initialty ree(¥Jnised at hkstorical cost or transa¢"on Wdlue unless otherwise stated in the relevant ntIng poliy. The financial ststements are prepared in steding. Wh is the funclional cJJrrency of the trust. 2.2 Going concern The trustees th not trle that trere are any matenal utKertawths about the trusvs ability to continue. The trust only commits to grants lo the extent that fvnds are available. The firrancial ststements have therefore been prepared on the wng Ly)n¢ basis. 2.3 Income All inccffie is reC(wJned once the trust has enljtlement to the income, it is probable that the income V71 be received and the anount of incLwne receiwdble can be measu1 reliab. 2.4 Expenditure EX[drture is recojnised On there is a legal or constructive obligation to transfer economic benefit to a third party. r( is probable Ihat a transfer of economic beneffits will be required in settlement and the amount of the Obligat be measured reliably. Expenditure is classrfied by activity. The charity has a Sing actmty in grant4naking for which ongoing support costs are incurred. Expenditure on raising funds are fees incurred for the management of the charitys investments. Expenditure on charitable activrties is incurred on dY uThlertaking the &tivibes which further the trusfs objectives. as well as any assLxiateA wpy)rt costs. Page 9
FREDERICK ANDREW TRLIST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies (continued) 2A Expenditure (conlinu8d Grants payable are charged in the year when payments are made. Whilst applications may have been approved in a given year, liability does not exist untsl sud) time that the relevant costs have been incurred and daimed. Unts"l that Foint an appVed applicab.on remains as only a commitment by the charity. AJI expenditure is indusr¥e of Irrecoverab VAT. 2.5 Intsrest rg¢elvable Interest on funds held on deposil is incl¥Jded when re1vable and the amount can be measured reliabty by the Injst," this is noTmally uwn nobfication of the interest paid or payable by the inststulion with whom the funds are del. 2.6 Taxation The trust is fxjnered to pass the tests set out in Paragraph 1 schedu 6 of the Finance Act 2010 and therefore rt meets the definttion of a charitable enbty for UK corpK)ralion lax purposes. Accordingty. the trust is potentially exempl from taxakn.on in respect of income or caprtal gains reived within categories covered by Chapter 3 Part 11 of the corpornkn.on Tax Act 2010 or Seth"on 256 of the Taxation of Chargeable Gains Act 1992, to the extelll that such income or gains are applied exdijswely to charitable purposes. 2.7 Investments Fixed asset investments are a fomi of financial instrument 8rkl a Inibally TernISed at their lransacb.on cost and subsequentty measured at fair Wdlue al the Balance sheet date. unless the value cannot be measured reliably in whth case il is measured at cost less impairment. Investment gains and losses, whether realised or unrealised. are ¢(bined and pSented as 'Gainsl{Losses} on investments, in the Statement of finan(4aJ acb"VTties. 2.8 Debtors Prepayments are valued at the amount prepaid ba1 on the invoiced expenditu. 2.9 Cash at bank Cash at bank retKesents cash hekj in current and reSee &counts to which the trust has instant access. 2.10 Liabilities Liabilities are recrJnised when there is an at the Balan sheet date as a result of a past event it is probable that a transfer of enOMiC benefft will required in settlement, and the amount of the settlement can be estimated rety. Liabilib'es are recognised at the amounl that the trust anticipates rt will pay to settle the debt of the 8mounl it has receNed as advanced payments for the gJS or Servi rt musl provide. Page 10
FREDERICK ANDREW TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies (Continued) 2.11 Financial in8tTuments The twst onty has finanual assets and financial li8bilitie5 of a kind that qualfy as basic financial instTuments. Basic financkAI instruffnts are Inth"al recognised at transactK)n value and subsequenlty measured at their Settlnt Trralue. 2.12 Fund accounting General funds are ynrestnc funds whKh are availth for use at the dis¢reb"on of the trustees in furtherance of the general obJ.l¥eS of the trust whth have not been designated for other purposes. The trust has a single endowment. the income fm which should be used in line with the trusfs activitvs. Investrnenl income. gains and kses a allwated to the apyopriate fvnd. Investment income Endowment Unrestricted funds fund8 2023 2023 Total funds 2023 Total fijnds 2022 Investment portfolio Bank inlerest r1ved 11.055 164 77.963 74.204 11,219 78.127 74,254 Total 2022 64.784 9.470 74.254 Investment markagement costs Total funds 2023 Total funds 2022 funds 2023 fund$ 2023 Inveslment portfolio management fees 2,635 3.452 087 5.133 Total 2022 1.200 3,933 5.133 Pagg 11
FREDERICK ANDREW TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analysis of expendire by acllvitigs Grant funding of activities 2023 Support costs 2023 Total funds 2023 Total funds 2022 Grant-making 64.517 23.229 87,746 88,488 Total 2022 69.325 19,163 88.488 Analysis of support costs Total funds 2023 Total funds 2022 Charity management costs Other charity running costs G0Veman ujsts Bank charges 17.500 3A02 2.160 167 12.000 4,594 2.422 147 23.229 19,763 Analysis of grants Grants to Grants to Institutions Individuals 2023 2023 Total funds 2023 Total funds 2022 Grants 64.517 64.517 69,325 Tot812022 67.525 69.325 Page 12
FREDERICK ANDREW TRUST NOTES TO THE FINANCIAL sTATEMEPs FOR THE YEAR ENDED 31 DECEMBER 2023 Independent examinets remunerntlon The prior year financial statements were drted. The audilors. remunerakn.on in relation to the audrt of those financial statements was £2.4m. The independent examinerfs remuneralion ounts to an epentsnt exarniner fee of £2.16012022 - Trustees. remunerntion and expenye8 DurÉng the year, no tswslees received any remuneraknn or other benefils P022- £NIL). During the year ended 31 0mLEr 2023, no trustee expenses have Lw) incurred {2022- £NIL). Fixod assèt investmen18 EndoT*fflient Unrestrictgd portlollo portlolio Total CoBt or valuation Al 1 January 2023 Addtiions 1,674.693 6.017 (21.809> 25.932 396.966 5.770 {15.000) (4.335) 2.071.659 11.787 136,809) 21,597 Disposals Revaluations At 31 DeceTnber 2023 1.684.833 383,401 2.068.234 Net book value At 31 December 2023 1,684.833 383N01 2,068.234 At 31 Dember2o22 1.674.693 396.966 2,071,659 Rewdluations are stated net of Xtual Invest management costs paid from cash balan held within the investsnent rxsrtfolio of £6.133. AddOnS to the ErKkNrnent wrtfolK) reflects Lxsh transferred to settle the investment management costs durin9 the year. Disposals in the Unrestricted pothlio refle(as losses on disposal due to Ihe nature of the invesknent FX)rtfolio rneaning gains I losses are r&invested. Page13
FREDERICK ANDREW TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 10. Inv08tm8nt portfolk>s 2023 2022 Equtbes Cash h&ld 1n Investment Portfolh) 2,051,878 16.356 2.063.476 8.183 2.068.234 2,07t,659 All inveslments are carried at their fair vatue. Invesfment equiti.es are all traded in quoted public markets. 11. Debtors 2023 2022 Due within ono year Prepayinents 1.091 499 1,091 12. Creditor¥: Amounts falling du• within one year 2023 2022 Accruals 3.380 3,666 Page 14
FREDERICK ANDREW TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 13. Statsment of funds statoment of funds - current ygar Balancè at 31 Dg¢embor 2023 Balance at 1 January 2023 Transfers inlout Galnsl (Losses) Income Expendire Unrestricted Funds General Funds 417.783 11.219 (91.198) 65,690 4.935 408.429 Endoymient Funds Endcvlment Fund 1.674.393 66.908 12.635} (65.690) 11,557 1,684,533 2,092.962 Total of Funds 1092.176 78.127 193,833) 16.492 Unrestricted Funds: Unrestricted Funds represent the free funds of the trust Wh are awdiL3ble for use tovrards any of the trust's obj'ects. Endowment Funds: The Endowment Fund represents those assets which must be held pemianently by the trust, principally investments, and cannot be added to or spent. I)me arising from this fvnd can t* used in accordance with the tmsys 0ects. Page15
FREDERICK ANDREW TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 13. Slatemont of funds {continued) Statement of funds- prior year Balance at l January 2022 8alance al 31 Dernber 2022 Tffjnsfers irtht Gain (Losses) Income Expenditu Unrestricted Funds General Funds 534.425 9.470 (92.421) 63,584 (97.275) 417,783 Endowment Funds Endrjwment Fu1 1.821. 769 64.784 (1.200) (63.584) (147.376) 1.674,393 Total of Ftsnds Z356, 194 74.254 (93.621) (244,651) 2,092, 176 14. Summary of funds Summary of funds - Current year Balance at 1 January 2023 Balance at 31 Gainsl December Losses) 2023 Transfvrs inlout Inc¢)me Expendlthre General fijndg Endowment fijnds 417.783 11.219 (91.198 65,690 4,936 408N29 1.674.393 12.635 165,690) 11.557 1.684.533 2,092.176 78,127 193.833) 16,492 2.092,962 Page 16
FREDERICK ANDREW TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEPABER 2023 14. Summary of funds (continued) Summary olfunds - prtor year Balan al 31 Dembtrr 2022 B8181Ke at l January 2022 TTrnsfe G8in in/out {Loss8s) IrKOn Expenditure General funds Endowment funds 534,425 9.470 (92.421) 63.584 (97.275) 417.783 I,K21,769 64, 784 (1.2LKI) (63,584) (147,376) 1,674,393 2,356,194 74.254 (93.621) (244,651) 2.092, 176 15. Anatysis of net assots tthg•n funds Analysis of net assets between funds - Current year EThd0Trent Unrestricted funds funds 2023 2023 Total funds 2023 Fixed asset investments Current assets 1.684.833 383,401 28,108 13.080) 2.068,234 28,108 13,380) Creditors due wthin one year (3CM)) T¢Jtsl 1.684.533 408.429 2.092.962 Analysis of net ass*ts 1th8en funds- prior yr Endowmenl UnStA1cled funds funds 2022 2022 Total funds 2022 Fixed asset investrnents Current assets Credrtors due within one year 1.674.693 396.966 24,183 (3,366) 2.071.659 24.183 (3,666) (300) Tolal 1.674,393 417,783 2,092, 176 Page 17
FREDERICK ANDREW TRLIST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 16. Related party trdnsactions The trust has not entered into any party transaction during the year, nor are there any outstsnding balances cwing bets¥een related parbes and the trust al 31 December 2023. Page 18
FREDERJCK ANDREW TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 310ECEMBER 2023 Independent examinerfs report to the trustees of Frederick Andrew Trust fthe trusV> I report to the ¢hanty trustees on my examinatN)n of the a)Unts of the trust for the yeaf ended 31 December 2023. Responsibilities and ba818 of rwrt As the trustees of the trust you are reSp)nsIb for the preparation of the accounts in accordan wf(h the requirements of the Charities 2011 (the 2011 Acr). I report in respecl of my examinat.on of the trusys COUnts (zrried out under secb.on 145 of the 2011 Act and in carrying out my examinab.on I have folk)w&J the 4plicable Directions given by the Charity Commission under secbon 145{5)Ib} of the 2011 Act. Independent examinerf$ slat8ment Your attention is drawn to the f that the trust has prepared the OUnts in accordan wrth Aceounting and Reporting by Charitie5.' Statement of Recomwnendl Pracb¢e aKpluble to tharrties preparing their accounts in accordance with the Financial Reporb'ng Standard applicable in the UK and Republic of Ireland IFRS 102} in preference to the AccA)unling and ReKxNb"ng by Charrties.. Statement of Recommended Practice issued on 1 April 2005 whtch is referred to in the extant regulations but has bn wrthdrawn. l understand that this has been done in order for the accounts to prov a true and fair wew in accordance with the Generally Accepted Account"ng Practi effectNe for rewrbng beginning on or after 1 January 2015. I have completed my examinaticffi. I confimi that matters have come to ffly attentK)n in connection wtth the examinatson gTving me cause to believe that in ary material reStL accounting records were not kepl in resttct of the trust as required by seLtion 130 of the 2011 Act,. or the a(Lounts (ktr not a¢(x)rd wtth those reo)rds". or the accounts do rsot compty with the ew11ble requirements (X)fming the fom aThl content of accounts set out in the Charitbes {Accounts and Rewrts) Regutations 2008 other than any requirement that the accounts gNe a and fa.tr vivw whth is not a matter considered as part of an independent examinali(Jn. I have no o)ncems and have come awss no other mattefs in connectrin with the examination to which atten*"on shoukl be drawn in this report order to enable a proper understanding of the accounts to be reached. This report is made solely to the trusfs trustees. as a body. in ?Ordan with Part 4 of the Charities (Accounts and Reports) Regulab"ons 2008. My work has been uridertaken so that I mwJht state lo the Irusvs trustees those mattets l am required to state to them in an IrNJependent examinerfs report and for no other purrx)se. To the fullest extent pemitted by18w. l ¢Jo not a(pt or assume restx)nsibty tr) anyone other than the trust and the trusfs tnjstees as a try)dy, for my work or for this rerK SvJned.. Dated". 21 May 2024 Robert Anderson Bsc FCA Streets Chartered Accountants Tower House Lucy Tower Street Lincoln LN1 1XW Page 6