IM irwinmitchell
IAR8GATE TftU￿T
ARITY NUMBER
REGIST
INANCIAL 8T
TE
For th
{Ref: TST14503G961)

FRIA
GISTERED C
SGATE TRUST
UMBER 220
onteiils to ihe
al Stateineiiis
ie
ear elidè
A Irll 2023
TN$tees ieport
Indopondgnl Examlners, RFport
51alemenl of r(nan¢l81 Aclivllles
BalBnce Sheel
Slalemenl of Cash FIOWA
10-16 Noles lo Fin8nclal Slalemenla
17-22 Schedulg ol Inve$lmeni$

Page 1
Friarsgate Trust
Trustees Report
For the Year ended 5th April 2023
General Informatlon
Full Name of Charity..
Friarsgate Trust
Nature of Governing document..
Deed of Trust dated 25lh March 1955
Registration Number..
220762
Registered Address..
Thomas Eggar House, Friary Lane, Chichester, Wesl
Sussex, P019 1UF
Principal Banker..
National Westminster Bank Plc, 5 East Street, Chichester,
West Sussex, P019 1HH
Solicitors..
Irwin Mitchell LLP, Thomas Eggar House, Friary Lane,
Chichester, West Sussex, P019 1UF
Independent Examiner..
Claire Norwood. Carpenter Box Jones Avens, Piper House, 4
Dukes Court, Bognor Road, Chichester, Wesl Sussex, P019
8FX
Investment Managers..
Brewin Dolphin Limited, 12 Smithfield Street, London EC1A
9LA
Constitution and Objects
The Trust was established under a Deed of Trust dated 25th March 1955 executed by the late C.P.8
Shippam and is a registered Charity number 220762.
The objects of the Trust are".-
al To provide funds for the academic and general education of orphans and children Iwhelher
infant or adult) whose parents are in poor or reduced circumstances.
bl To provide the mental, moral, physical, technical and social education of children, young
persons and adults.
cl To provide, equip and maintain for the purposes referred to in la} and Ibl above camping
grounds, holiday camps, playing fields, club rooms or other accommodation and facilities.
dl To provide for the relief and care of impotent persons including in that expression Ibul wilhoul
in any way restricting the generality thereofj all persons suffering either temporarily or
permanently from disease or disability of any kind affecting their body or mind.
el To provide for the relief of persons over the age of sixty years by the provision of
maintenance, food, clothing and housing.
To promote and support or aid any charitable institutions, purposes or projects in any way
connected with the objects aforesaid or calculated to further such objects or any of them.
GA- 6671949 1

Pago 2
Trustees
The current Iruslees are..
Mrs S Balii (rellred 21.4.2023)
Mr.$ fJ l.Ivinoslone Irellied ?1.4.?0231
Mr R M Newin3n
Mr& D A Aliinaii
Mr R A Norton {appoinled 21.4.?.0231
Mrs N Small {appolnled 21.4.2023)
The appoii)Inienl of the Tiusl88s is governed by lh8 TTLisI Deed. The Trusl¢g8 a￿ aulhortsed lo
ppoinl new T(uslees lo fill va¢3n¢188 arlsiiig Ihrougli reslgnalian ot death of on exisling Triislee.
Trustees are appointed both on Ihe basis of Ihelr spe¢lalisl knowledge ol Ilia area bul also on Ihg
skills 11)ey havè lo brlng lo Ilie rol8_ Prospective new Triislees are inviled lo allend al least onè
truslee meeiinu belore making Ilieir declslon on whelher Ihey wish lo be appointed. They Arè
provlded with coples of Ihc GonslllulSon, minules of Iwslee mpellng% and Ihe lasl two sets of accotjnls.
In Ihe yoar lo fJth Aprll 2023 no Iruslees ielired and no new Iruslees W8fB appointed. In Ihe followlng
year reiired and Mo new Irusiee5 were appoitTrled. In Ilie abs¢iic* ol express piovislujis uiider
Ihe Trusl deed, 1119 power of appoii)Imenl aiid IElliei)ienl of Irusleesls exercised in aGcor(laii¢e wilh
Ihe Trustee Act 1025.
Oporallonal and De¢lsion Maklng
The Truslees meet al lea51 ￿lce a year lo monitor the acllvilltss wllhln ihe Triisl and flnancial and
invesln?eiil i)iioiilies. In addlllon, Ihey meet on a ￿gular quarterly ba515 to assess graiii applicalions
and lo approve or reluse grants aoainbl Ihe granl making crileTia.
All docislons ¢?re made by Ilie Tiusltrès wilh 11)e lielp ol Ilieir professional advisers, There are no
eimployees of the Tiiisl. Oecislons #re n)ade by majorily vole bul execution and impl8menlailon may
requlre only two signatures from Iruslees.
Fundralslng and Grant Making Poll¢y
The Tmslees do not carry out any indopendeiil lundralslng but rely 501ety on the incomo goneraled by
the Inveslmenl portfolio as managed by Ihe iiivei¥lm¥ril rftaiiagers 01) a dlscielloiidly iJd¥S¥.
Ihfrre Is no geouraphleal reslilclion In Ilie Oblecls. the Trvslees glve i)riorily to local proSecls and
those basod in Wesl Su558x.
Granis ar6 made on Ihe basls of crller18 lald down and agréad by the Truslees, The Trlislees
evaluate granl appllcalions niade 10 Iho Cliarily. Visi18 are 8rranged lo Bpplicanls polenllally
quoiifyliiy Iui livppon In some cases and Then, Ir approprlaic, a wriiien commiimeni niaue seiiing oui
the agreed conditions includliig 8ny Ilme limlls, In 60me c88es follow up v15119 are arranged to a55e58
Ilie Impact of the grant paymonl.
Ali?Is and Objoctlvfs
The alm ol Ihe Trust Is lo appty the incom8 and. il appfopriale, capilMI towards Ihe Oblecls ol Ilie
Charily.
The annugl In￿me generated by the Inveslnienls Is LFSGd lo support porlicular prolecls or. where
appropriaie, indivlduols.
mie anllcipaled Incojiie lui Ilie comlng year Is approxlmalely £111.091.
Although not formaity
resolved, Ihe Ti(i$lees apply beiw8eii £15,000 and £25.000 pei quarter If suitable appeals are
recelved.. whllst ensviing sulficienl liquid funds remaln foi the day lo day wnnlng ol lh8 Yrust.
Tho Board ol Truslees h8ve p81(J due regarijs lo guld8nee IssLred by Ihe Charity Commlsslon on
public bei)elit.
JA.. 6671949 1

Page 3
OveNlÈw ol tli8 year
There have been cxtornal challenoos dlirlng the year ntsily the Twslees, were mlndful of any
downward lurn on Ihe Income and value of Ihe porllolK> in Ilghl OT Brexll and Ihe Lovid-10 pandemlG,
Dvrlng Ihe year the Iiusloe¥ mridv 37 granls lolalllng £101,134, to insliluilons. of Ihe 37 grants made
ov¢r 640A were for £2.000 or195s. No lurther pledge¥ were inade, bringiiig Ili¢ lolal grants and
pledges in tho year ended 5#1 ApTiI 202310 £101,134 (In 2022 IliB grant payments were £133,732,
Ihere were no pledges)-.
Tho over011 reserve$ of Ihe Chaiily decreased dudng Ihe year by £306,056 {?0?? - Increased by
£170.1gS).
The yroles11iunal lees paid to INin Milcliell LLP were £14.100 12022 - £13.200).
The Tru8tees conllnue Io us8 wth¥.friaTS
at&irusl.or
k giving the Irusl a web preseiice, lor a v8ry
modest outlay. The prin¢iple object is lo iinprove thè quality of gr8nl 8ppliGanls by (equesllng
applicants lo provide felevant information in a standard form81', as well as lo lurtlier publicise Ilie
Trusts alm$ and oblp¢llvas.
Investineiits
The Inve51nienl PDrifolio as al 5th Apiil 2023 w86 £4.080,480 (2022 = £4.381.2851 with In￿Me
geiiefaled of £l18.903 {2022 . £111,671). The lolal portfolto relurn was-4.49% compared uAth
2.09'h in Iho agreed benchmark.
Tl)ere aiE no reslriclions on Ihe Charily'g POWQf to inve41. The Invfislmenl slralegy Is sel by the
Tfiislees for a P¢TiO(l af three years and takes accounl of likely domlc n(ts for lunds en(J Ihe qvalily uf
tho funding applleallons.
ThB TIusle¥s cviislder Ilie IiiGoin¢ r¢qylremant6. th? dsk prollle and the inve8tmonl motiaugr'$ view of
the markel prospects in Iha niedilim lerin. Tl)is slralegy is sel wilhli) an overall policy which siale5
Ilial 11)e fund Is lo be Invasled in a balanced portfolio with moderate risk based on a balance be(ween
inwme and ¢apilal growlli. The inveslmenl pDrtfolio niay comprise oqullies, fixed Iii¢ome slocks and
cash wilh a view lo ensuring Ihat capllal 8pprecialion ol Ilie lund Inalches or exceeds the fTSE 100,
th¢ FTSE All Sliare Index. WbA Charities Unconstralned Model and FTA Coverninenl All Stocks over
each IhrÈo year pèrlod. The fLind8, 81101 wl)ieh are unre51Tlcled. may be Inveslod In any lype ol
Inveslmont, The slralogy Is rcvicwo<J wiin Ine Inveslmenl manag8r al led51 iafiiiulttlly.
The portfolio IS Illdnaue<S on a (Jiscrelionary basis by Brewtn Dolphin foi a fgg based on the valuo 01
the POTllolio.
In addilion lo a v81u8lion al the end Of the l(nancial year. the Investment manager provides the
Trustee5 wlh a valuatson and foTmal revlew every Iliree monlhs as Bl ￿le end of Jun8. September,
ecember and M8r¢h. The quart￿lY reports are consldered al Ihe Trusiea meelings.
GA: 6671949.J

Paga 4
Cas
('hanges In cagh leve15 are largely dlctaled by the incidence of ¢harllable granl paymenls,. Ihl,q year
Ihe Tfusioos. belno mlndlul nl Ihp LinrertAlnty over incom8. BgrÉÉd tn hnld H mlnlmum pogllivo
cash balan￿ sufficienl Io Govor tho ¢osl of running Ilie Trust for a year. Tlie cash balance al 6￿ Apill
2023 wos £l5.533 compared with £27,456 a year earlSer. a dvrrease of £11,923.
TIIE casli funds are under Ihe SVPelViiTrivri vf the Clidrlly's adnilnisbalurs. Ihe Tiusl Departmenl ol Ils
solicilors.
ReBeNes
li Is Iliv pullby of Ilie Ghcirlly lo niaiiilclin tsiiffioient cash ruli￿S lo nieei lis aniiclpaied expenditure on
¢harilable graiil8. Incoing from Inveslmenls are qcnofally SLTrllidcht lo ¢overs ils normal ongolng
expertLIIILifg. Tlio ro$orve$ al Ihe balaiice sheÈl dale were £4,000,364 {2022: f.4.396,4101.
Rlsk Maiiagemelit
I'hrouglioul the year th8 TTusloos havo examlned the malor $lrategic, bu$ln8S8 and operallonal risks
which Ilie Trust IAces.
A mlnlmum of hvo lrusleos are nocdod lo slgn all chequ&s and other docuinenlalbn relailng lo
Iinancial or oilier Irans8cllon5, bul Ihe declslon havlng bEen made by all ITu$lees.
The iwo assets of the Fri8tsgale Trusl are Ihts poilfolio of Ii)veslmenls and a casli deposll. Tl)e
porllolio is sublecl lo dlscrelioi?ary manageménl bul Ihe Tru5lees have in place a manag¢menl
agreement and Inveslmenl Policy. The markel risk Is moderala and l)Igh tisk Inveslmenls ale
8pecificttlly excluded. Regular reports are ItGeiv¢3d Iroin Ilie inv¢.slriieiil iTl¢allayVl¥. Tlie&e ieports
arp revle.wed regularly and a nieellng willi the Inveslmenl 8dv5sor8 Is hcld ¢71 leiL sl onnually. Tlie
Inve51monl Policy provides lor a maximiiin of Ihrae years between lormal reviews of investment
dviRKtr_q
For subslaiilltll IMuivtil¥, Ilie Tiuslefjs will liaists willi the orgsnlsallon In quesuon. revlew Èhe
background and ensure the docunienlalion is In pla¢e. INhere appropilalo lunds are pledged wllli
condilioiis to be sallsne(I lJ¢lor¢ Ihe aranl is made.
Statomont ol Tru6tO¢8' R¢8pon)Ibllltlos
The Irusiees are responsible lor preparing the '[ wslee5' RepDrt arid Ihe #Lcouiils In a¢¢ordance with
apDIicdble law Uiiiled Klilgdoin Accounllng Slaiidaids {Uniled l<ingdom GenÈrRlly ArrAplod
Accounting PracllGe).
The law applicable lo ¢harllles Iii Englaiid and Wales requires Ilie Iruslees lo prepaie accounts lor
each finanGial year whith give u Irutt and lalr vlew ol Ihe Iru81'9 fln8ncial acllvlll85 durlng Ilie year and
ol Ils finaiiclal posllion al ihe end of the year.
GA,. 6671919 1

Pag8 6
In preparing acGounls givlng a liue arid fair vlew. Ihe Iruslees should tollow besl praG11￿ ano-
ole¢t sullable accounlln9 policles and then apply them consistently.,
observe the methods and prlnclple$ ol Ilie Ch8riiles SORP-
make judgm8nls and 051im8ley that Br6 reasonable and prudent..
3181e whether appIl￿ble ¥4iuuiilirig slandards aiid 31alen?enls of re¢ommended pr8¢llc¢ have
been followad. subjeGI to any deparlures dlscloged and explained In the accounts- and
pr¢paro the accouiils on lh9 going eoncern ba$1$ iJnle44 11 iq inHppmprlAte to presum8 Ihal the
Gharily wlll ctsnliniie In operalioii.
The Irusle8B are iesponslble for keeplng adeqiiotp. aceouiiling records Ih8t discb5e with reasonable
accuracy al ai)y liine Ihe financial position of tho trusl and wl)Ich enable Iliem to ensure 11)al Ilie
8ccounls coniply wllh 1118 Cliarilies Act 2011. Ilie Charity (Accounlg and Reports) Regulallons 2008
aiid Ilie provi5iofbS of the trusl d(*ed. They are also responsible for safeguarding the asBels of the
ohaFlly 4nil IleJI￿ for lakliig Tfja8onable steps for lh¢ pr¢venlion and O¢l¢dlon of fraud and oihor
Irregulsrlties.
Appioved by Ihe Trustees and signed on thelr behall..
.TIu6te6
.TfJslee
-TruE+teg
..Twstaa
16.01.2024
GA.. 6G11949_1

Pag¢ 6
FRIARSGATE TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF FRIARSGATE TRUST
I report to the trustees on my examination of the financial statements of Friarsgate Trust (the charity) for the year
ended 5 April 2023.
R8sponsibiliti8s and ba515 of report
As the tIU5tees of the charity you are responsible for the preparation of the financial statetnents in 8ccoid8nce
with the requirerllents of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the
2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity
Commission under section 14515llbl ol the 2011 Acl.
Independent examiner's statement
I have completed tny exatnination. I confirm that no Tnatter5 have wme lo my attention in connedion with
the examination giving me cause to believe that in any material respect..
accounting records were not kept in respect of the charrty as required by section 130 of the 2011 Act., or
the finanaal statements do not accord with those records., or
the finanual statements do not comply wth the applicable requirements concerning the form and
content of accounts set out in the Ch8rities (Accounts and Reports) Regulation5 2tK)8 other th8n any
requirement that the accounts give a true and fair view which is not a matter considered as part of an
independent examination.
I have no con￿￿$ and have come across no other matters IN connection with the examination to which
attention should be drawn in this report in order to enable a proper understanding of the finanaal statements
to be leached.
Claire Nomood Bsc FCA ATII
Catpentei Box Jones Avens
Pipei House
4 Dukes Court
Bognor Road
Chichester
West Sussex
P0198FX
1610112024
Dated..
Carpenter Box Jones Avens is a trading name of Jones Avens Limited
GA: 6672023 1

Pauè 7
IARSG
GISTER
TE TRUS
ITY NO. 2207
tateiii
Inai
udlii
lal ActlvllloB for
r ondod 5th A 112
)endltuYo Accoii
23
Ic
Total
2023
Total
lu 2022
Noie
Iiicoinliio rgsoiirc4B
Inve31nient Incomo and bank InleTeal
118.g02.67
11 B,002.
111671.60
111,871.6J
RosQU￿¢8 trxpendÈd
Govem81)ce cosls
15,696.60
15,310.80
InveslnioDI ma￿￿gement c￿81￿
25,599.30
27.619,D3
Charileble aeilviiles
Total Resources Expeiided
101.134.00
142,429.90
133.732.00
176,661.83
Not Gainslllo¥so$l on Inve$lmenls
Roallscd IIos8es)Igaln8 on dlspos81 oifixe(18sset Inveslmen18
-} on ievaluatlon ol fixvd a$get Inv¢sim¢nl$
Net movemgnt in fvllds
{83,709.981
198.728.59
1306.055.80
42.620.91
102 563.80
q7
Fund bal8nce brought lolward 6.4.22
4,39S,419.48
4.226,224.95
Fund baloneè carrlèd fomard J.423
90,363.68
4,396,419.48
None of Ihe Cliarills acuvllies were aGquirod or d15contlnu¢d duilng the abovè wjo 118cal years.
Tlie Charity has no rocugnls8d gains or los$e¥ olher Iliaii Ihosè dealt wllh in Ihe Sl8lénienl of FlnanGio1 Arllvillos.
The iioles on pagès 10 10 16 form part of111888 accounts.

PaBg 8
FRIARSGATE TRUST
REGISTERED CHARITY NO. 2
èétasa
88t5.42
8 at 6.4.22
Flxed AsBels
InveslmÈnl¥ ¥t VAIIJ
4.080.420.?0
4.381.286.92
Curreiit A55e19
Ca511
Told cuffenl Assets
15 533.48
15.533.48
27.465.76
Llabllilies falling duv wllhln 12 m¢i)Ih3
CIEdilvis
Nel eurrÈi?t Assets
Total A88018 los$ currenl Ilabllllles
5650.00
9.883.48
12.321.62
15.134.16
4.390,419.4
Funds ol tho Charilv
Unreslricle(I
4,090.363.88
41396 410.48
16.01.2024
The nnaii&iul ¥ldltHii¢iits WFle W)provEd by Iliv bu&1r￿ uf Ill14lCQS 011........................
.ana sianed on ils behaifby
Tiuslè
Th¥ nol¢s on pages 1010 10 lonn part of11105e accounls

PAue #
IARSGATE TRUS
Y NO. 22076
GISTE
steleinènt of C sli Flow
èar onded 5th A
023
Tot41
16 2023
Total
le 2022
Nèt oosli utsad 01)orAtlnu a¢llvltig%
10
14D.101.52
(176.809.461
Cash Ilow$ from liiv88llnu aellvllle8:
Inleresl pnd dlvldend8
Pufchas8 01 iiive5tnienl$
Pf¢ceo¢Jts Irom ￿ale of invèstinaiils
118.902.67
{1,190,q13.881
1 1.24.3tIO_73
64.169.lj2
111,671.05
1670.29 Jf.99}
740 526.70
181.904.38
Net Gosh provldod by lrtvestlng acllvltles
Clk8nué In cash aiid CA9h eoiiivalgiits In Ihg vè8r
(84.032.001
5,D94.90
Cash brought fo￿Ard {al bank and on porllomo)
Casli CUTrled fo￿ard
156.901.10
71.060,10
151.UUU.30
1*j6,4(51.10

Page 10
FRIARSGATE TRUST
REtsISTERED CHARITY NO. 220762
Notes
tlie Accoiinl
oar endéd 51h A rll 2023
1 ACCOUNTINQ POLICIES
Tlie kiiarsgale Trusl 15 en iininGorporaled ¢harily, reglslered wilh lh8 Cliarlly Commission number
220762. Th8 regislered address is
Thoma5 Eggar Hoiise. Fiiary Lane. Chlche81er, Wesl Sussex. POI0 1 UF
1.1 ACCOUNTING CONVENTION
TIip.46b 8e*.ounlR I)Ava bèÈn preparad In £ecordanco wilh "Aecounling and Reporllng by e.hArili£s" Ilie
Slalomont of Rocommended Pracllce lor charilies app5ylng Ilie Flnanclal Reporting Standafd
applicabla In IhÈ UK and RepubliG of Ireland IFRS 102) UK Gei)erally A¢cepled Accountlng
PraGlice as il api)lies from l Jaiiuary 2019. The charily Is 8 Public Benefit Enlily as definud by FRS
102.
The accounls arè prepared in 51erliiig, whiGh Is the funclional curreney ol lh¢ ¢l)arlly.
The accounts Iiave been prepai'ed on th2 hislorlcel cost convenllon modified for the revalLiallon of
InvebkniJ¥iil¥. The prlnGip&I accountino pollcles adoplea are sei oui uélow.
1.2 GOING CONCERN
Al the time of approvlno Ihe 8ecounl%. Ihft Iruslees liave reasonable expectation Ihal tho charily has
adequate re30urce3 lo ¢onllnue lrt op¢ralional e%lslence for Ilie foreseeable luluig. Tliu¥ Ilie Itublees.
coi)Iliiue lo adopl the going concem b8sls of aGcounllng in proparallon of the a¢counl8.
.3 CHARITABLE FUNDS & FUND ACCOUNTING
UnreslilGlgd luiid5 aig avallable for uso at Ihe dlscTeUoii OT Ine Irusiees In (unherance ol Ihelr
¢harilable obSecllves unles611i8 funds have been designated for olhor PLIIPUSg$,
InGonilng Respurcg8
Incon)Ing resourcgb InGlude5 Investfflonl in￿1[1￿. wlil¢li Is re¢ogiilfjg(f wli¢ii the cliarlty hBs a legal
rlghl lo Ihe income.
TIiA OAin or Ioss arising on Ihè diiposol cil 8n assél 1$ dglomiinad a8 tha difference between the ￿alE
proc£eds and Ilie carrylng v81ue of the a5sel, and Is ￿¢0￿nIsed In nel Incomel{expendilurel lor thg
year.

Page 11
IA GRANTS PAYABLE
Gioiils payable are debited lo oXpun(fil￿￿6 wll)I11 1119 Slalcmonl of Flnanclal knitvlliog In Ihe period I
wliioli Ilio ¢harlty enters iiilo a consliuclive obligalion to make 6ucli paymenls. WheTe a grant
commitment is payable over a period ol more Ihan one year. 8 liability Is re¢ognised ior 1118 lull
amount of the toiislruclive obltgalion unless condilions are allached lo luture payments SLich that Ihe
Iruslees effectively relain the discrellon lo avold making such paymenls.
1.5 INVESTMENTS AND INVESTMENT INCOME
All inve.81inÈnls ara staled al lalr v8luo and Ihe move.Inenl shown comprlses both realised and
unioallsed galns and losses.
Rea119ed gains Of losses erlslng on Ihe dlsposal DI Investments (together wlth provisions for
diminuuon In value), are ¢fÈdlled or deblled io Ihfj Stal&meiil ol FinaiiclQl Acllviiies, and subsequently
Irangforred to Unrgslficled Funds.
1.6 CHARITABLE ACTIVITIES
The G051 of charitabla acllvilies conslsts of grants made.
4.7 COST OF GENERATING FUNDS
The cost ol generallng funds conslsly of invo51menl management lee&
.8 GOVERNANCE COSTS
(iovemance cosls compr15e all ¢osls Involvirbg the puljllc accounlabllity of the charily and Ils
compliance wllh regulation and good practice. These eosts Include eosls relaled lo slalutory audit
and legal foos Logolher wilh vlli¥i civeiliead and 3UPPOrt C05l5.
1.9 CASH AND CASH EQUIVALENTS
Cash on(i cash equlvalents Include d8posIts hold al eall wilh banks.
1.10 FINANCIAL INSTRUMENTS
The cliarfty lias elected 10 apply tho piovlsloii$ ol Section 11 '8aslc Flnanclal Inslrumen15' aiid
section 12°OthBr Financlal InslNm8nls Issues" of FRS 102 to all of its fiiiancial ins1rUn￿￿ls.
Financial as5815 and liabllllies are offsel. wllli the iiet amounts pre5enled in Ihe financial slalemenls,
ièn11)ere Is a legalty enfoTceable right to sel off Ihe re¢ognlsed amouiils and there is an inlenlion lo
-ct and selue the liability simLilloneovsly.
etlle on a n•1 b?si$ or lo realis8 Ilic o--
Baglc flnanclal a$BBts
B8$1¢ fln8nclal assets, wlilcl) Includes debtors and ca8h and bank balances. are Ini118lly mea5uied al
liansa¢llon i)rlca inclvding Ir8n98cUon costs 8rè $ubseqiienlly e8rried al amDrtSsed cost uslng Iho
effeclive Inler¢s1 motliod iinless Ilie arrangement conslitutes a finan¢lng tr11 nsaclinn, whpre the
Ifansaciion is me83ured at Ino preseni value of 1119 (Ulu￿ iecelpts digcounted al e mark¢t rato of
Inlere81. Flnan¢lal assets classilied as receivablp wilhin one year afe Iiol amortlsed.

Page 12
Impalnment of IliianGlal Rssets
Fii?¥lltylÉal a55els, other than those held 81 fair value Ihroliyh Income aii(J expeiidiiuie, are assessed
for Indicators of imi)alrmei)l al eacli reportinq dale. F5nancial assets are li￿paired wl)ei'e 11)ere Is
obleclive evldence Ihal, a5 a resull one or Inore evenl$ Ilial occurred after the Iiiliial tecognilion of the
rinafitial a6$el, the esllmated fulurc cas17 flov49 have been affe¢led.
If an assel Is Impalred, Ihe Impairmenl loss 18 Ihe dlfference between Uie carrylng amount and Ihe
pres*.nl valu8 of Ihe esllmaled cash Qows dis¢oLlllted al 11)e 0s8el's original 8flÉcllvè Interest rate.
The Inipairmonl loss Is rpcoJ( nlsed in nèl Incomel{expendilural for Ihe year.
If there is a deGreaso In Ihè Impalimenl1086 ailslng from an event occurrillg after the Impalrmenl was
re¢oyiil¥¥tl, Iliu liiipaltmenl 15 reveised. Tho roversal Is sucli 11)oi Ine eurfeiit cafrying amount does
not exceod wlial Ihe carrying amouiil would have been. had the impairmtsnl previously been
recognlsed_ Tlig impalTmenl revfjrsal is recogiiiseu in i)el Iiicoiiiellexpendllurel lor the year.
Bi81¢ Ilnan¢lal Ilabllllles
B8sic financial liabililles, Iiicludliig Irade and olher payable5. are Inillally reco.qnised al Iransacllon
prlce ui)less IhB arrangenienl con51ilules a llnan¢ing Iransaclion. where Ihe debt inslfumenl 15
measiired 81 Ili¢ prÉsenl value ol the fuluf8 rèceSpts discounted al a mafkel rale ol Inlerésl, Debt
instrumenls are subsequently corrled al emortised cost, uslng effective inleiesl rale method.
Trade payables ara obligallons lo pay for goods or servlces 1118l hTJve beeii acqulred in Ilie ordinary
courso ol operaiions Irom suppliers. Accounts payatsle are classed as curreht Ilabililies if paymeiil Is
due wilhln one yoar or less. 11 tlol, 11)ey are presenled as non-currenl Ilabllilles. Trade payables are
recogiiised Ii)Illally at transaction prtcg and subseauenlly measufed al amortlsed c051 using the
effeLlive Iiileresl Inelhod.
DereGogiilllon of linanGlal IldlJlllllts$
Flnancial Ilabifilies are derecognl8ed when the charily's conLfaclual obllgallons explre or are
di¥charged or eaneelled.
2. CRificAL AGGOUNTING ESTIMATES ANDJUU14EMtNIS
IA Ilie appllcalion ol Ihe charlty'5 8ccovnling policie5, the If(Islee$ are requliEd lo make ludgemenls.
eslimal8s and 8ssiimplions 8tyoLtI Ihè eafrying amounl of assels and liabllliies thal are nol rpadlly
apparenl Irom other sources. The esllmales 4nd ossoelaled assumpllons are based on historical
experteiiGe oiid oll)er f4olors Ihat are Guii¥ldEietl lu bc rolov8nl. Aclual ie5uIIs Tnay dlffer troin IhBse
85tlmales.
The eglimale5 and undedying 455umplions gre T¢vi$wgrJ oli an ongoing baBiB. Revlshfts lo
accounlii)g eslimales are recognlsad In Ihe period In which the eslimale is revised where Ihe revision
affects only Ihal period, or in Ihe peilad ol 1118 revislon affecls 01)ly Iliat period, or In Ihe period of the
revlslon and fvlure peilods where the rovi51on affects both eurrenl and lulure periofjs.

Page13
FRIARSGATE
STEREO CH
Rl
RUST
. 2207
to tho 0¢
Total
10 2023
Tatal
lè20
3. Inv65tiiient Incomo and bank Interest
Iiioomo from IiBled UK Invo¥lmertl*
Income from lisled Non-UK inveslmgni8
Bank ond olhe¢ Ini¢r¢$l received
Inleresl received on cash hold on polllollo
107.?43.8?
11.397.46
87,371.26
24,300.39
261.40
118 002.87
111671.85
4. Qov8man¢e costs Iliicl VATI
lThvln MSlehell LLP diarges
Jones Avens, IndepBndenl exurwtln811onlaudllors lees
AAléc Compuiers- Webslla D08tgn
14,100.00
1,308.00
198.60
15,6g6.60
13.200.00
1,99d.U
118.BO
1Jf 310.8
All ol Ui8 gov8(nanc* ¢48ts aro alloralod lo thD chorithble acllvlty olgranl m8klnu. lot8llino Fl6.697 in 20231£15.311 In 20221.
G. lrtv•#lm•nl man#0am•llt costs
liwtssln)eiil Management le03
25.599.30
?7 fi19.03
e. Chaillabl8 aetlvlllÈs
Gran18 10 insliluitons {nol¢ 11>
Orai)Is lo individuals
101.134.00
133,732.00
1011J4.00
133.732.00
0.00
Pledges m8de lo inslilullons
PlodgeF m¥dv lo lrt&ivlduals
0.00
Total grants and pledges
,134.0

FRIARSG
EREO GH
TRUST
Y NO. 22076
otes to I
GCQlllIts
7. Flxed Assèt Iiivgslmont8
To181
rotlll
Qirolgd Inveslmenl8 and portfollo caBh
Markel valuè 6 Aprll 20??
Addition8
Disposals
In¢re8sel{Decioas¥l Iii ijorllollo cash
Nei unreAli3ed Iloss)lo81n
Mafkel value 6111 Aprll 2023
4.381,285.32
1,190.113.88
{1,219.180.711
113.009. IUI
{198.7?8. Jr
4,080.480.20
4,182,035.17
870,2tt3.El
(697.907.791
3I.298.15
192.563.80
4 381285.32
l.Ilslorical cog1 ol quoted Invesln)enl¥
3.721.043.09
3 287 470.00
QLioled UK Inv8slmÈrtla
Quote(5 Non Ul( Inveslmenls
C88h hèld on portlolio
3,38fj,7O8.00
865,042.00
129 445.32
4.381285.32
1,857.460.05
J8 435.82
4.080 480.20
The followlng Invejslmenl repiesenl$ gfeoler than 5% of Ihe portfolio by m8rkel value
48,110146.fjOftr Fldelily ljclts ICA U
322.03T.6è
318,170.00
8. Analysls OT Gurrviil a¥¥EI5
C08h 81 bank
15 533.48
15. Jf33.48
27.455.78
27.455.78
9. Aiialysl¥ of Giiyrènt liabS1ille¥
Creditors
Irwir) Milel)sll LLP
Jone8 Aveiis
Bre￿n Dolphln Ltd
Pledged granls
Youth Lounsellln9 Projecl- chèque not cash8d- Apfil 2018
3,4oro,00
1,200.00
2,550.IJO
1,902_00
6,86è,62
1000.00
12.321.62
5 650.0

Page15
FRIARSGATE
STER
RUST
0. 22076
Notes to tlie a
10. ReGonGlllatloii of iiet movemoiit In lund8 to n61 cash flow iroin operaiiiig aGllvlllQS
Total
102
1306.OJJ.80)
Total
2022
170.194.53
Not movement In funds
De(fucl dividend anfl inlprggl Income shown In inveailng scllvlil05
LoSSE51IGalns) on d18Pti¥Jl of Ii)veslinènls
Add back lossesldediicl (gain5} on Invoglmonls
In¢rea$e Ideueas8) Sn credilots
(118.902.671
83.799.98
198.728.59
6.671.02
14Y.IU1.)
{111.671.661
(42.020.911
1192.Jf63.801
147.63
1713.009.40
Total
ylo 2023
Gr8nt$ lo
nsll
on
Total
y18 2L122
Grai)ts to
Edijcalion
45.572.00
102.225.00
Carc and Wellaia
Tolgl
.fj.fj fj62.0
101134.OD
31.507.00
133 732.00
Thoiawero no grants lo Indiwidual¥ durfiig Ihe year (2022.. none}

Paue16
IARSGATE TRUST
O CHARITY NO 220
EG
hè
¢¢ou
11. Cliarllabl8 acllvllles Icoiitliiuedl
Grants to
utloiis
350.00
500.00
2.500.00
2,500.00
?,ooo.00
io,ooo.00
1,000.00
1,500.00
2,aroo.oo
1.516.00
2.600.00
3.000.00
8.572.QO
1.408.00
6.000.00
5.000.00
2.000.00
2.423.00
1.000.00
Grant5 to
Ttstal
350.00
501J.00
2.500_00
2.500.00
3.000.00
04.05.2022 Cl)Iche5ter Youlh Advenluivj Twsl
04.tJr).2022 Amaze
04.05.2022 DSsabllily Cliallengors
04.05.2022 Medical Enginetrr ResourGfj Unll
04.05.2022 I'htr Hyglenè Bank
04.nf>.2022 Chrlsli8n Youlh Enlerprisos Salllno Centro
03.08.2022 8rillsh Dl8abl8d Angllng AsEoGlailon
03.08.2022 CancerKise
04.011,20?? ABlhma Rellel
04.08.2022 Crackerlacks Childr81i's TTU81
04.08.2022 Headway
04.08.2022 71ippAnny Bam Edut¥litsn
05.08.?0?? Flshbaurne Playlng Fleld As8od8lion
05.08_2022 Cycall
05.08.2022 Cl)Icheslei Boys Club
05.10.2022 Llslcl)estgr Hoys Club
07.11.?02? Bogntsr Reglg Youlh & Coniinunity Centre
07.11.2022 4Slglit Insioii Suppporl
07.11.2022 Brllisli Dysle￿¢5
07.11.2022 Cliild ilrain Injury Trusl
07.11.2022 Culld C?r
07.11.2022 Sussex MS Cenlf8
07.11.2022 ￿lIC Lodgc Cc*nlr¢
08.11.2022 MobllSly Trii81
08.11.2022 Sussex Asststsci81lon for Spin3 Blllda Hydrodoph
2B.12.2022 Cliicheslor Boys Club
07.02.2023 The Aniber Foundation
07.0?..20?3 Dvmpniia Supporl
07.02.2023 Hoiiie Start CHAMS
nA n?.?023 Llllle Greon Pio
08.02.2023 Sols8y Belfiendlng AdivlllèA
08.02.2023 W¢si wU$8¢X Miiid
08.02.2023 Tlilnk18
UU.U2.2U23 Life ZOO
02.03.2023 Momenliim Chlldrèns CFiaiily
15.03.2023 Boonor Regls Youth & Con)niunity Centre
28.03.2023 Cliicl)esler Boys Club
1.000.00
1,600.00
2.50U.UO
1.515.00
2.500.00
J.Doo.00
6,57?.00
1.4¢8.00
5.000.00
o.000.00
?,000.OD
2.423.00
1.000.00
1.000.00
1,600.00
4.7Jf2.00
5.000.00
1.554.00
2,000.00
5,000.00
2.000.00
5,000.00
1.500.00
3,000.00
1.650.UU
1.050.00
1,500.00
2,000.00
1.000.00
1,500.00
5.000.00
101124.00
1,SOO.00
4.752,00
G,000,00
1.5i4.00
2.000.00
5.000.00
2,000.00
,n(Jo.o(J
1.500.00
3.000.00
1.650.00
1.850.00
1.500.00
2,000.00
1,000.00
1.500.00
6 000.00
101 134.00
Plgdged cl)eriiablÈ uraTIts
12. Transdctlons wllh Tru$toe¥
No Tiuslees received remiinerallon or olhor benofil8 from Ilie Trusl duiing ih8 year, and none {2022 - nono) of Ihem
w&r8 felinbursed £nil12022: ￿)111 for Iravel expenses.
Theie were no Iran8acllon8 beiw¢en lh8 chadly and any olh8T relaleu partley duiing Iho yo&r12022.. NIII
13. Efflployoo
Thoro w0r¢ no employees durfng Ihe year {2022=nll)
14. Tr8nsAciion$ wiiii rèlated parties
Thore wer¢ no tran$g¢11oiis will) related pathes

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