Charity Registration No. 221467
Company R•gl$tratlon No. 00371489 (England and Wal•sl
THE FRESHGATE TRUST FOUNDATION
IA COMPANY LIMITED 8Y GUARANTEE AND NOT HAVING A SHARE CAPITALI
COUNCIL MEMBERS. REPORT AND UNAUDITEDACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2023

THE FRESHGATE TRUST FOUNDATION
(A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE
CAPITAL)
LEGAL AND ADMINISTRATIVE INFORMATION
Members of tho Council
Miss E S Murray
Mrs V A Linnemann
Miss H A Dobson
Mrs U R Fitch
Dr G F Russell
Mr N A MacDonald OBE
Mr M J Sibley
MrsA D J Gadde$
Mr J Robinson
Miss E Scott
Mrs M Thomas
(Appointed 3 March 20231
S•cretary
Emma Legdon
Charlty numbgr
221467
Company numbor
00371489
RogSster•d offlco
The Hart Shaw Building
Europa Link
Sheffield BusSness Park
Sheffield
S9 1XU
Independent examlner
Nicola Ad8ms ACA DchA
BHP LLP
2 Rulland Park
Sheffi&ld
S10 2PD
Sollcltorn
Wrigley5 Solicitors LLP
150 Arundel Gale
Sheffield City Centre
Sheffield
S12FN
Investment advlsors
Ralhbones
Beech House
61 Napier Street
Sheffield
S118HA

THE FRESHGATE TRUST FOUNDATION
(A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE
CAPITAL)
CONTENTS
Page
Council Mernbers, rgport
Independent examlnerfs report
Statement of financial activities
Balance sheet
Noleg lo the financial slal8menls
8-14

THE FRESHGATE TRUST FOUNDATION
(A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE
CAPITAL)
COUNCIL MEMBERS. REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2023
The Members of the Council present their annual rgport and finanryal statements for the year ended 31
December 2023.
The financial slalemenls hav8 been prepared in accordance with the accounting policies sel out in note 1 to the
rinancial slalemenls and comply with the charitable company's Merllorandufn and Articles of Association, the
Companies Act 2006 and "Accounting and Reporting by Charities.. Slalemenl ol Recofflmended Practice
applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in
the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191"
Oblectlv8s and actlvltlgs
The Freshgale Trust Foundation's objects are Sel out in the Memorandum of Association and cornprise a wide
variety of exclusively charitable purposes.
The Freshgate Trust Foundation is a grant making charily gsiablished in 1941 by Harry 8rearlgy. tho discoverer
of s¢ainlgss stegl. His original aims ol The Freshgate Trust Foundalion were to provide grants lo improve the
social ospecls of industrial life for fellow workers and their families.
The Freshgale Trust Foundation seeks lo distribute subslanlially all of ils n81 income after ex￿r￿&S each year.
An application form is completed by all applicants. Completed application forms are reviewed by the Secretary
and sorted according lo th& spher8 into whi¢h each appeal falls. These applic81ions are then considered al the
Members of the Council metslings by the lull board of Membtsrs ol the Council and Ih818vel of approprfale grants
determined according to a sel of criteria established by Ihts Members ol the Council.
We have referred to the guidance contained in the Charity Commisslon's general guidance on public benafil
when reviewing our aims and objectives.
In accordance with good. modern charity practice and present charity law, the Members of the Council have
sought lo establish a policy lo meel the objectives whilst giving priority lo organisalions within the Sheffield and
South Yorkshire area.
The Members of the Council have identified flve specifi'c spheres In which they feel that the obj8clives of the
charity can best be mel as follows:_
Education (including travel and Irainingl
Heritage, resloralion and environment
Music and the arts
Recrgalion (including holidays and sport}
Welfare, hgallh and soci81 care
The Mernbers of Ihe Council make grants lo organisations with aclivilies falling within the five spheres identified
above. The grants awarded are summarised in note 5. The focus of Ihe grants awarded is aimed to ensure the
widest coverage of beneficiaries within those five spheres of activity.

THE FRESHGATE TRUST FOUNDATION
(A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE
CAPITAL)
COUNCIL MEMBERS. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
A¢hl•v•m•nt• and p•rfomanc•
The Freshgatg Trust Foundation's objgcts to make grants lo a variety of charitable causes havg lo be balanced
wilh the ne8d to maintain and grow a capital bas8 which generates the incom8 lo enable Th8 Freshgale Tnjst
Foundation to make grants. The Members ol the Council are saljsfi'ed with the perfomiance achieved dLrin9 the
year. In meeting Ihelr objectives lor Ihe yger the Membgrs ol the Council havo mel al thrge main grant makin9
mgetings during Ihe yoar lo discuss Ihe operation of lh8 charily, review St$ adlvilles and authorlso paymenl of 55
grants awarded totslling £87,900 1£91.9DO less £4,000 undaimod grants from prior yoarl 12022 - 47 grants
tolalling £92,750). A summary of the bgnèficiarigs of these grants is delailed in note 5 lo th8 aCC￿ntS. As
oullin8d Above, each application is rèviewed inits'ally by the Secretary in order to assess its eligibilily wthin the
tru$¢s oblectives and Ihen Is considered by the Members of the Council to delemiine the amount of any grant
owarded,
Thg Freshgale Trust Foundation's income is generaled from investments Ilsted on the London Stock Exthange.
Thèse af8 managed on a discr8tionary basis by investment advisors who s88k to Bchigv8 a balanc8d rettjm ol
bDlh income and capital growth. The performance ol the Stock market is oulside the control ol The Freshgate
Trust Foundation and therefore the f8sullant Incomo generaled 8nd Caplial performance ol Ils inveslments mgy
mpad on the level of grant Income The Freshgale Trust Foundalbn is able to dislribulo.
Each appllcation for grant 8id is conslder8d on ils own medis. However the quanlty of ap￿IcatIOnS recelved and
the level of gr8nl aid requested is outside Ihg conlrol of The Freshgale Trust Foundat￿n.
Fln*ncl*l r•vl•w
GYos8 Income for the year 01 £91,92812022- £82,419> is 8pproxim8lely 12% h￿tter Ih8n last year.
Nel expenditure after charitable gr8nt8 8nd adminislr8llve expenses lor the year is £41.863 12022
nel
expendllure of £58.6601. Nel g8Ins on Inveslmenls amounted lo £149,658 (2022 £480.917 losses). The lolal
unrestricted income funds al the yeaf end w88 £3,519,88212022- £3,412,087).
11 is the pdicy ol The Frt8hg8le Trust Found8lKJn to fnainlain IiquKI unreglricled funds, which are the free
reserye5 01 The Freshgale Trust Foundalion, at a level which equates lo at leasl Six monlhs unreslrtcled
expendlture excludlng grants. currently around £21,000. This provldes sufficient funds to cover management and
dministration and to respond lo emergency applications lor gran15 which arise from lime lo lime. ￿'qUid
unrestricted funds were maintained above this level throughout the year and al the year end amounted lo
£95,310 cash.
The Members of the Council have appolnled regulated investment managers lo manage the investments on 8
discrelonary basis with a mediumlhigh attitude to dsk. The asset 8llocai]on between equities and fixed interestl
corporate bonds and cash is flexible dependenl on markèl conditions but is in the range of 57 to 9001• eqijities, 5
to 28Vo fixed interesu ￿rpOrate bonds. O 10 10% pfoperly, O 10 20% allomalive assets and O 10 17.5%
cash. Eqully inveslmgnls are reslricled lo 75Qh FTSE lop 350 Stocks wllh a bias lowartls FTSE 100 companies
8n4 25% FTSE worfd stocks. Actual income received during the year was £91,928 12022 £82.4191.The
nveslmenl policy and asset allocation was reviewed and rewsed during the year.
The Members of Ihe Council have assessed the major risks to which the charitable company Is exposed. and ore
satisfied that systems are in place to mitlgale gxposurg lo the malor rtsks.
The Members of the Councll have considered areas of risk 8nd have conduded Ihal they h8ve lithe exposure lo
risk save for stock markel volalilily. In this respecl, they have appoinled compelenl fund managers who are
regulated and th8 Mtrmbers of th8 Council have sel the inv8slm8nl risk 8s 'mediumlhigh' The Members of the
Council have compelenl profession81 8dvisorB 811 of whom Carry professK)nal negligence in5ur8nc8. The
Se￿etary Is a Partner in a firm of Chartered Accountsnts who is likewise insured in this office through her fimi's
cover. The Freshgale Trust Foundabon's bankers are substantial 8nd are regulated_ The F￿shgate Twsl
FoundalTron is purely a grant maker and does not give advic8 lo any grant applicants save where else they can
8pply for funds or how else they might Improve Ihelr award opportunity Irom The Freshgale Trusl Foundallon.

THE FRESHGATE TRUST FOUNDATION
(A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE
CAPITAL)
COUNCIL MEMBERS. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
The Members of th8 Council intend to keep under continual review the operations of Thg Freshgale Trust
Foundation in order lo adapt lo changes in the investment rnarkels and in the areas of need for grant aid whilst
being mindful of the original intentions of The Freshgale Trust Foundalion when this was established by Harry
Brearley over 80 years ago.
Structure, governance and management
The charitsble company is a company limited by guarantee and a registered charity governed by ils
Memorandum and Artlcles of Association.
The Members of the Council who served during the year. or have been appointed subsequently, were..
Miss E S Murray
Mrs V A Linnemann
Miss H A Dobson
Mrs U R Filch
Dr G F Russ811
Mr G J Marslon OBE
Mr N A MacDonald OBE
Mr M J Sibley
MrsA D J Gaddes
Mr J Robinson
Miss E Scott
Mrs M Thomas
(Deceased 3 June 20241
(Appolnted 3 March 20231
Nong of the Members of the Council has any beneficial interest in the company. All of the Members of tho
Council are members ol the company and guarantee to contribute £1 in the event of a winding up.
New Members of the Council are appolnled from Ilme lo Ilme. Sullable candidates are selected who have skllls
and work experience which compliment Ihose provided by exisllng Members of the Council, Members of the
Council are selected by personal recommendation and they are interviewed by a sub commlttee who make
recommendations lo the lull board of Members of th8 Council for their consideration.
Once selected, new Members of the Council meet wllh the sub commlttee lo be Instructed on the dUt￿S and
responsibilities and lo provide any further training deemed appropriate.
The Frgshgatg Trust Foundation is administgrgd by a board of Mèmbers of the Council with day to day mattgrs
being administered by the Secretary. All investmgnts are managed by regulated inveslment managers who
report to an investmgnt sub ¢ommitlge Comprising of four Members of thg Council, howevor all de¢isions
conc8rning invèstment of resources and award of grants are made by the fLJII board of Memb8rs ol th8 Council.
The Members of the Council hav9 been significantly str9ngthgned through the appointmgnt of n9w Mgmbers
over recent years drawn from thg worlds of medicine, industry, education. finance and management. The
commitment of the Members, the knowledge base and willingness to become involved in the investigation ol
unusual appeals, augurs well for the futurg.
The Members of tho Council all give thgir timg voluntarily and rgcoive no benefit from The Freshgate Trust
Foundation. Any expenses reclaimed are set out in note 7.
The Secretsry, who is not a Member of the Council, 18 a partner in a firm of Chartered Acwunlanls which
charge5 a fee for her Services and the service5 of the firm which undertakes all the secretarial duties, preparation
of annual accounts and provides meets'ng facilities for the Members of the Council.

THE FRESHGATE TRUST FOUNDATION
(A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE
CAPITAL)
COUNCIL MEMBERS. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
The Council Members. Report was approved by the Board of Members of the Council.
.BwJA8TrlD,.TQJQ29t8E7.
Miss E S Murray
Member of the Councll
Dated..
1810912024 GMT

THE FRESHGATE TRUST FOUNDATION
(A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE
CAPITAL)
INDEPENDENT EXAMINER'S REPORT
TO THE MEMBERS OF THE COUNCIL OF THE FRESHGATE TRUST FOUNDATION
I r8POrt lo th8 Mgmbgrs of the Council on my examination of the financial statomgnts of The Freshgatg Trust
Foundation Ilhe charitable company) for the year ended 31 December 2023.
Responsibilities and basis of report
As the Members ol the Council ol the charitable company land also ils directors for the purposes of company lawl
you are responsible for the preparation of the financial slalements in accordance with the requirements of the
Companies Act 2006 Ilhe 2006 Acll.
Having satisfied rnyself that the financial stslemenls of the charitable company are not required lo be audited under
Part 16 of the 2006 Act and are eligible for independent examination, I report in respect ol my examination of the
charitable company's financial slalemenls carried out under section 145 of the Charities Act 2011 Ilhe 2011 Acll. In
carrying out my examination I have followed all the applicable Directions given by the Charity Cornmission under
section 14515llbl of the 2011 Act.
Indopendent oxamlnor's slat¢mont
I have completed my examination. I confirm that no matters have come to my attention in connection with the
examination giving me cause lo believe that in any material respect..
accounting records were not kept in respect of the charitable eompany as requirèd by section 386 cl the 2006
Act., or
the financl81 stslemenls do not accord wllh those records., or
the financial s¢algmgnts do not comply with thg accounting requirements of section 396 of the 2006 Act other
than any requirement that the accounts give a true and fair view which is not a matter considered as part of an
independent gxaminalion.. or
the financial slalements have not been prepared in accordance with the methods and principles of the
Slalemenl ol Recommended Practice for accounting and reporting by charities applicable lo charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK an
Republic of Ireland IFRS 1021.
I have no concerns and have come across no olher matters in conngctlon with the examlnalion to whlch allenlion
should be drawn In Ihls report In order lo enable a proper understanding of the financial statements lo be reached.
Signor ID CZYRUVFAHR...
Nlcola AdamsACA DchA
BHP LLP
2 Rulland Park
Sheffield
S102PD
Dated..
1910912024 GMT

THE FRESHGATE TRUST FOUNDATION
(A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE
CAPITAL)
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
2022
Notes
Income from:
Investments
91,928
82,419
Expondlture on:
Investment management costs
20,284
21.167
Charitable ath'vitios
113.507
119.912
Total oxpèndlturè
133.791
141.079
Ng11 gxpandlturo) Ilncom• b8for8 Invastmgnt galnslllo$$a¥l
141.8631
158.6601
N81 gainsl Ilossesl on Investments
149.658
1480,9171
Not mov•m8nt In fund8
107.795
1539.5771
Fund balances al 1 January 2023
3,412.087 3,951.664
Fund balances at 31 December 2023
3,519,882 3,412,087
The slalernenl of financial activities includes all gains and losses recognised in the year.
All Income and expendllurg is unreslricled, All income and expenditure derlve from continuing aclivili88.
The statement of financial 8clivilies also complies with the requirèments for an ineomè and eX￿ndItuTe 8ccount
under the Companies Act 2006.

THE FRESHGATE TRUST FOUNDATION
(A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE
CAPITAL)
BALANCE SHEET
AS AT 31 DECEMBER 2023
2023
2022
Notes
Flxod assets
Heritage assets
Investments
10
11
1.500
3,468.086
1,500
3,349,185
3.469.586
3,350,685
Currant a$sgt$
Debtors
Cash 81 bank and In hand
12
63
95,310
252
65,350
95,373
65,602
Credltors.. amounts falllng du• wlthln
one year
13
145,0771
14,2001
Net current assgls
50.296
61,402
Total a81frts1tr#8 Current Il*bllltle•
3,519,882
3,412,087
Unrestrlcted funds
General fund
Revaluation fund
3,229,882
290,000
3,287,856
124,231
3,519.882
3,412,087
3,519.882
3,412,087
The company 55 enlllled lo the exempllon from the audll requlrement contalned In secllon 477 of the Companles Act
2006, for the year ended 310ecember 2023.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Acl 2006
with respect lo accounting records and the preparation of financial sialements.
The members have not rgquired Ihe company lo obtain an audit of its financial statgmonts lor the year in qugstion in
a¢¢ordance with se¢tion 476.
These financial statements have been p￿pared in accordance with the provisions appli¢able lo companies subject
lo the small companies regirne.
The financial statements were approved by the Members Of The Council on
18109r2024 GMT
6luthtk VMv¥YA
WaLDui&dd
uhvr1D'TOJ(T29C9E7'.
Miss E S Murray
Truste•
èY1D,N3B￿GGDIff4F
r N A Macoonald OBE
Trustee
Company registration number 00371489

THE FRESHGATE TRUST FOUNDATION
(A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE
CAPITAL)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
A¢¢ounllng pollclo8
Charity inforniatlon
The Freshgale Trust Foundation Is a prfvale company limlted by gu8r8nt8e incorpor81ed in Eng18nd and
Wales. The registered office is The Hart Shaw Building, Europa Link, Sheffield Business Park, Sheffield, S9
1XU.
1.1 Accountlng conventlon
The charity conslilules a public benefll enllty as defined by FRS 102. The flnanclal slalements have been
prepared In accordance with Accounllng and Reporting by Charilles.. Stal8m8nl of Recommended Practice
applicable lo charities preparing their accounts in accordance with the Financial Reporting Standar
applicable in the UK and Republic of Ireland issued in October 2019. the Financial Reporting Standard
applicable in the United Kingdom and Republic of Ireland IFRS 1021, the Charilles Act 2011, the Companies
Act 2006 and UK G8n6rally A¢c8pl8d Accounting Practice,
The financial stslemenls are prepared on 8 going eoncem basis under the historical cost convention, modified
lo Include the revaluallon of Inveslmenls.
The financial slalemenls are presented in sterling, which is the functional currency of the charitable company.
Monetary amounts in these financial statements are rounded to the nearest £.
The prSncipal accounting pollcles are sel out below,
1.2 Golng concèrn
Al Ihe lime ol approvSng the accounts, the Mem￿rS of the Counc51 have a reasonable expeclalSon that the
charity has adequate resources lo continue in operational exlsl8nce for the foreseeable future. Thus the
Members of the Council continue lo adopt the going concern basls ol accounting in preparing the accounts.
1.3 Charltable funds
Unrestricted funds are available for use al the discreb'on of tho Members of the Council in furtherance of their
hariiablg objoctivos.
The unrestricted fund represents Ihe original gift and subsequent gifts and undislributed surpluses, together
with realised and unrealised gains and losses on investments, all of which May be applied without restriction
in furtherance of the objects of The Freshgale Trust Foundation.
1.4 Incomlng rosourcos
Income is recognised when the charitable company is legally entitled to it after any perfomance eJ)ndilions
have been mel, the amounts can be measured reliably, and it is probable that income will be received.
1.5 R•sour¢•s èxpended
Expgndilure is included on an accruals basis.
Grants payable are Charggd in the year whgn the offer is conveyed lo the r￿1plent except in those cases
where Ihg offer is Conditional, such grants being rgcognised as expendilure when Ihe conditions are fulfilled.
Support costs are the running of The Freshgate Trust Foundalion itself as an organisalion.
1.6 Herltsg& a$set$
Gold pocket watch and chain formerly owned by Harry Brearfey, al a cost of £1,50012022- £1.5001. This is
currenuy on loan lo The Company ol Cutlers in Hallamshire.

THE FRESHGATE TRUST FOUNDATION
(A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE
CAPITAL)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting polici8S
(Continued)
1.7 Flxfyd a$$ot In¥8$tmènts
Fixed asset investments are initially measured at transaction price exduding transaction costs, and are
subsequently measured at fair value at each reporting dale. Changes in fair value are recognised in nel
incomellexpendilurel for the year. Transacts'on costs are expensed as incurred.
1.8 Cash and cash equlvalents
Cash and cash equivalents Include cash In hand, deposlls held al call with banks, other short-lerm Ilquld
inv8slm&nls with original malurilies of thre8 months or less. and bank overdrafts.
1.9 Flnanclal Instruments
The charitable company has elected lo apply the provisions of Section 11 '8asic Financial Inslrumenls, and
Section 12 '01her Financial Instruments Issues, ol FRS 102 to all of ils financial inslrumenls.
Financial inslrurnenls are recognised in the charitable company's bal8nce sheet when thè charitabl8 e£•mpany
becomes p8rty lo the eonlractual provisions of the instrument.
Financial assets and liabilities are offset. with the nel amounts presented in the financial stalemenls. whèn
there is a legally enforceable right lo sel off the recognised amounts and there is an intention lo sellle on a nal
basis or lo realise the asset and settle the liability simultaneously.
B•slc Iln•n¢l•l a¥$ets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried al amortised cost using the effective
interest method unless the arrangernenl conslilules a financing transaction, where the transaction is
measured al the present value of the future receipts discounted al a market rale of interest. Finanaal assets
classified as receivable within one year are not amortised.
Baslc flnan¢l•l Ilabllltlgs
Basic financial liabililies, including creditors, are initially recognised al transaction price unless th8
arrangement constitutes a financing transaction, where the debt instrument is measured al the present value
of the future payments discounted at a market rate ol interest. Financial liabilities classified as payable within
one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rale method.
D¢re¢ognltlon of fln?n¢lo1114bllltle$
Financial liabililies are derecognised when the charitable company's contractual obligations expire or are
discharged or cancelled.
Invastmgnts
2023
2022
Income from listed investments
91,928
82,419

THE FRESHGATE TRUST FOUNDATION
(A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE
CAPITAL)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Invostm•nt managomenl ¢o$ts
2023
2022
Investment management fees
20,284
21,167
Charitable activitios
Grants Charltabl•
exp•ndltur•
2023
Total
Grants Charltable
•xpendlture
2022
Total
2023
2023
2022
2022
Website design costs
Bank charges
Secretarial lees
Travelling and sundry
expenses
Audit fge
Independent examination
fee
1,992
161
19,200
1,992
161
19,200
1,992
27
19,200
1,992
27
19,200
1,287
456
1,287
456
4,254
4,254
4,200
4,200
25,607
25,607
27,162
27,182
Grant funding of aetivilies
(see note 51
87,900
87,900
92,750
92,750
87,900
25,607
113,507
92,750
27,162
119,912
10-

THE FRESHGATE TRUST FOUNDATION
(A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE
CAPITAL)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Grants In furtherance of the Foundatlon's obJe¢tlvo$
2023
2022
Number
Number
Education (including travel and Irainingl
Heritage, resloralion and environment
Music and the arts
Recreation (including holidays and sportl
Welfare, health and social care
13.500
8,250
10,500
21,850
37.800
17,800
21,500
15,800
17,150
20,500
10
13
21
55
91,900
47
92,750
Unclaimed gr8nls
14,0001
87,900
92,750
The Freshgale Trust Foundation does not award grants lo individuals except in the Case of oducalional
prizes to students. This amounts to nil this year1£2,000 to Outokumpu in 20221.
Employ008
There were no employees during the year12022'. none).
MemberB of the Councll
None ol the Members of the Council Inor any persons connected with them) received any remun8ralion
during the year. Thero were no travel expenses reimbursed lo any Membgr of the Council in 2023 12022
The Secretsry, who is not a Member of the Council, is a partner In a firm of Chartered Accountsnls. Fees ol
£19,200 are charged for her services and the services of the firm which undertakes all of the secretarial
duties, preparation ol annual accounts and provision of meeting facilities for the Members of the Council.
Taxatlon
The company is considered lo pass the lesls set out in Sch. 6. para. 1 of the Fin8nce Act 2010 and therefore il
meets the definition ol a charitsblg company for UK corporation lax purposes. Accordingly, the company Is
potentially exempl from laxalion in respe¢l of income or ¢apital gains re¢eived within ¢ategories covered by
Pl. 11, Ch. 3 of the Corporation Tax Act 2010 or s. 256 of the Taxation of Chgrg8able G8ins A¢t 1992. to the
exlenl that such income or gains are applied exclusively to charitsble purposes.
11

THE FRESHGATE TRUST FOUNDATION
(A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE
CAPITAL)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Not galnslllo$$•$l on Inv•$tmonts
2023
2022
Not•
Revaluation of investments
Gainslllo888sI on sale of invèstments
11
148,002
1,656
1398,7791
182,1381
149,658
1480,9171
10 Herltago a$set$
At 1 January 2023 and at 31 D8cembgr 2023
1,500
11 Flxgd asset Invo$lmgnts
Movomgnt In flxed a$$ot Inva8tments
2023
2022
Al 1 January 2023
Additions
Valuation changes
Disposals
3.319,449
468,780
148,002
1491,5451
3,831,116
468,077
398,779
1580,9651
3,444,686
23,400
3,319,449
29,736
Cash
Al 31 Decembor 2023
3,468,086
3,349,185
The historical cost of the fixed asset investments is £3.154.68612022 £3.195.2181.
12 D•btor8
2023
2022
Amounts falling duo wlthln one yoar:
Prepayments and accrugd income
63
252
12-

THE FRESHGATE TRUST FOUNDATION
(A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE
CAPITAL)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
13 Crodltors: amounts falllng due wlthln ono yoar
2023
2022
Accruals and deferred incom8
45.077
4,200
14 Flnanclal Instruments
2023
2022
Carrylng amount offinanclal assets
Instruments measured al lair value through Income and expenditure
3,468,086
3,349,185
Carrylng amount of flnanclal IlabSlltl•s
M8asured al amortised cost
45,077
4,200
IS Unre8trlcted funds
Movement In funds
In¢omlng Resour¢è$
Tran$fèrn Investments Balancè at 31
rèsource•
expendèd
galns1108sè1Decombor 2023
Th18 y•ar
Balanct at 1
January
2023
Ggn&r81 fund
Revaluation fund
3,287,856
124.231
91,928
1133,7911
117,7671
17.767
1,656
148,002
3,229,882
290,000
3,412,087
91,928
1133,7911
149,658
3,519,882
Prlor yèar
Balance at 1
January
2022
Incomlng Resources
resources
expondfrd
Transfers Investments Balance at 31
gainsllossesDecombor 2022
General fund
Revaluation fund
3,307,870
643,794
82,419
1141,0791
120,784
1120.7841
182,1381
1398,7791
3,287,856
124,231
3.951,664
82,419
1141,0791
1480,9171
3,412,087
The revaluation fund represents the amount by which investments exceed their historical cost.
The general fund represents the original gift and subsequent gifts and undislribuled surpluses, together with
realised gains and losses on investments, all of which may be applied wilhoul restriction in furtherance of the
objects of the Foundation.
Transfers are lo adjust the balance on the revaluation fund so rt represents the difference between the lolal
historic cost and the market value of the investments.
13-

THE FRESHGATE TRUST FOUNDATION
(A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE
CAPITAL)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
18 R•latod party tran$a¢tlon$
During the year grants were rllade lo Sheffield Family Holiday Fund of £3,000 12022- £2,500). Sheffield
Botanical gardens of £nil 12022-£10,000 I, Sl Luke's Hospice 01 £2,000 12022 - nill, Miss E S Murray is
Trustee of Sheffield Family Holiday Fund,. Matthew Sibley is a Iruslee of Sheffield Botanical Gardens, Mr N A
MacDonald OBE is a Trustee of Sl Luke's Hospice.
There were no other disclos8ble related party transactions during the ye8r12022- none).
14-