Charity Registration No. 221467
Company R•gl$tratlon No. 00371489 (England and Wal•sl
THE FRESHGATE TRUST FOUNDATION
IA COMPANY LIMITED 8Y GUARANTEEAND NOT HAVING A SHARE CAPITALI
COUNCIL MEMBERS. REPORT AND UNAUDITEDACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2024

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 VALinnemann
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
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 O'sullivan FCA DchA
BHP LLP
Albert Works
Sidney Street
Sheffield
S14RG
S¢llcltorn
Wrigleys Solicitors LLP
150 Arundel Gate
Sheffield City Centre
Sheffield
S12FN
Investment advlsors
Ralhbones
Beech House
61 Napier Street
Sheffield
S11 8HA

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 2024
The Members of the Council present their annual rgport and finanryal statements for the year ended 31
December 2024.
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 Merlloranduffl and Articles of Association, the
Companies Act 2006 and "Accounting and Reporting by Charities.. Slalemenl of 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. thg 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 expertses 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 which 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 meet 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 2024
A¢hl•v•m•nt• and p•rfomanc•
The Freshgatg Trust Foundation's objgcts to make grants lo a variety of charitable causes have lo be balanced
wilh the ne8d to maintain and grow a capilal bas8 which generates the incom8 to enable The Freshgale Tnjst
FoundatK)n to make grants. The Members ol the Council are saljsfi'ed with the pertomiance achieved dLrin9 the
year. In meoting thoir objectives lor tho year, the Members ol the Council have mot al Ihree main grant making
mgetings during Ihe yoar lo discuss Ihe operalion of lh8 charily, review Its actlvilles and authorlse paymenl of 59
grants awafdod totalling £95.360 12023 - 55 grants lotalling £87,9001. A SLJmmary of tho beneficiaries of Ihese
grants is detailgd in nole 5 lo lh9 accounts. As ouilined abov9, each application is reviewed inits'ally by the
Secr8tary in order to assess ils èligibility wrthin the trusts objactsv8s and then is cx)nsKJer8d by thè Membgrs ol
the Coun¢ll lo delemiine the amounl of any 9ronl awarded.
The Freshgale Trust Foundation's income is generaled from invostmenls Ilsted on the London Slo¢k Exchange.
These afg managed on a discretionary basis by inveslment advisors who seek to achieve a balanced rettjm ol
bDlh incom8 and capital growth. Th8 P8rformance ol the stock markèt is oulside th8 control ol Th8 Fr8shgate
Trusl Foundation and therefore the resullanl income generated , and capital pertornian¢e of ils inveslmgnts m9y
Impact on the level ol grant income The Freshgale Trust Foundallon 1$ able lo distribute.
Each appllcation for grant 8ld is constdered on Ils own medls. However the quantty of 8pplicalion8 rece+ved and
the level o19ranl aid requesleé is oulslde lh8 control of The Freshgale Trust Foundat￿n.
Flnanclal r•vl•w
Gross Income for the year of £101,00812023- £91.928I Is approximately 10% h￿her than last year.
Nel expendtture after charitable gr8nts 8nd admini8trallve expenses for the year 58 £40,638 12023
nel
6xpondilure of £41.863I. Nel g8ins on inveslments 8movnl8d lo £253.682 12023 - £149.658 1, The 10181
unroslricled income funds al tho yoar end was £3.732,92612023- £3.519,8821.
11 is the policy ol The Freshgale Trust FoundalKJn to maintain liquid unre51Ticled funds, which are the free
reseryes ol The Freshgale Trust Found81ion, at a level which equates lo at leasl six monlh5 unre51Ticled
expenditure excludlng grants. currently around £23,000. This provldes suificienl fvnds to cover management and
Bdminlstration and to respond lo emergency appllcalions loi gran15 which arise from Ilme lo time. ￿'qUId
unrestricted funds were maintained above this level throughout the year and al the year end amounled to
£60,982 cash.
Th8 Members of the Councll have 8ppolnled r•gvlalad investment managers lo manage the inv8slm8nls on a
discrefjonary basi8 With 8 mediumlhigh altilude lo risk. The porlfolio assel allocation and benchm8tl( indlces a
reviewed annually by Ihe investment sub commlttee. The investment obje¢llves are achieved by investing
prudenijy in a broad range of fixed inlerest securities and equities which are quoted on a Recognis&l Inveslmenl
Ex¢hang& an(1 unil trusts and OEIC'S which are aulhorizgd under the Financial Sgrvlces and Mafkets Act 2000.
No inilial invoslmenl shall exceod 10% 01 Ihe lolal value of the funds under managemonl. Aclu81 income received
dudng Ihe year was £101.CQ812023 £91.9281.
The Members of the Councll have ￿nsidered areas of risk ond have conduded that they have little exposure lo
risk save for stock market volalllity. In this respecl, they have appolnled competent fund managers who are
regulat8d and the Members of th6 Council have set the inv8s(m8nt risk as 'mediumlhigh'. The Members of the
Council have compe(enl professional advisors all of whom carry professional n8gligenc8 insuranco. The
Secretary is a Partner in a firm ol Chartered Accounianis who is likewise insured in this office through her firm's
cover. The Freshgale Trusl Foundation's bankers are subsianlial and are regulated. The Freshgale Trust
FoundatTron 1$ purely a granl moker and does not give advl¢e to any grant applI￿niS save where else they ¢8n
pply for fvnds or how else Ihoy miohl Improve Iholr award ¢wportunity from The Freshgate Trusl Foundallcffl.
The Members of the Council intend lo keep under continual ￿vieW the operations of The Freshgale Twsl
FoundalK)n in order lo ad8pI lo changes in the inveslmenl markets and in Ihe areas ol need for granl aid whilst
ing mindlul of the original intentions of The Fr8shg8le Tnjsl Foundalion when this was 8slablish8d by Hary
B￿arley over 80 years ago.

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 2024
Structure, govgrnan¢o and managoment
The charitable company is a company limited by guarantee and a registered charity governed by its
Memorandum and Articles of Association.
The Members ol the Council who served during the year, or have been appointed subsequently, wer8..
Miss E S Murray
Mrs V A Linnemann
Miss H A Dobson
Mrs U R Filch
Dr G F Russell
Mr N A MacDonald OBE
Mr M J Sibley
MrsA D J Gaddes
Mr J Robinson
Miss E Scott
Mrs M Thomas
Mr G J Marslon OBE
(Resigned 3 June 20241
None of the Mem￿r$ of the Councll has any beneflclal Interest In the company. All of the Members of the
Council arè members ol the company and guarantee lo contribute £1 in thè event ol a winding up.
New Members ol th8 Council ar8 appoinl8d from lim8 to lima. Suitabl8 candidates 8r8 s8lecl8d who have skills
and work experience which compliment those provided by existing Members of the Council. Members of the
Council are selected by personal recommendation and they are interviewed by a sub wmmitt99 who make
recommendations to the lull board of Members of the Council for their consideration.
Oncg sel8cled, ngw Mgmbers of the Council meat wllh the Sub wmmittee lo bo inslrudgd on the duts'e$ and
responsibilities and to provide any further training deemed appropriate.
The Freshgale Trust Foundation is administered by a board of Member5 of the Council with day lo day matters
being administered by the Secretary. All investments are managed by regulated inveslrnenl managers who
report lo an investment sub committee comprising of five Members of the Council, however all decisions
concerning investment of resources and award of grants are made by the full board of Members ol the Council.
The Members of the Council have been significantly strengthened through the appointment of new Members
over recent years drawn from the worlds of medicine, industry, education, finance and rnanagemenl. The
commitment of the Members, the knowledge base and willingness lo become involved in the investigation ol
unusual appeals, augurs well for the future.
The Membets of the Council all give their lime voluntarily and receive no benefit from The Freshgate Trust
Foundation. Any expenses reclaimed are sel out in note 8.
The Secretary. who is not a Momber of the Council. is a partnor in a firm of Chartgred Accountants which
Charges a fee for hgr servi¢es and the sorvicgs of the firm which undertakes all the secretsrial duts'es. pr9paratson
of annual accounts and provides meeting facilities for the Members ol 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 2024
The Council Members. Report was approved by the Board of Members of the Council.
'SiYnErlD'YQJQ2￿PT...
Miss E S Murray
Member of the Councll
Dated.. 0910912025 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 report lo the Members of the Council on my examination of the financial statements of The Frgshgate Trust
Foundation Ilhe charitable company) for the year ended 31 December 2024.
Responsibilities and basis of report
As the Members of the Council ol the charitsble 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.
Having satisfied rnyself that the financial stslemenls of the charitable company are not required lo be audited under
Part 16 01 the Companies Act 2006 and are eligible for independent examination, I report in respect of my
examination of the charitable company's financial slalemenls carried out under section 145 ol the Charities Act
2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section
14515llbl of the Charities Act 2011.
Indopendent oxamlnor's slatemont
I have completed my examination. I confirm that no matters have come lo my attention in connection with the
examination giving me cause lo believe that in any material respect..
accounting records were not k&pl in respect ol the charitable company as required by section 386 d the
Companies Act 2006.
the financial statements do not accord wllh those records,. or
the financial statements do not comply with the accounting requirements of Section 396 of the Companies Act
2006 othgr than any requirgmgnt that the financial statements give a true and fair view, which is not a matter
Considered as part of an independonl examination., 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 financial statements in accordance with the Financial Reporting Standard applicable in the UK
and Republic ol Ireland IFRS 1021.
I have no concerns and have come across no olher matters in conngctlon with the examlnalion lo whlch allenlion
should be drawn In Ihls report In order lo enable a proper understanding of the financial statements lo be reached.
Signor ID CULLX¢APA8
Nlcola O'sulllvan FCA DchA
BHP LLP
Albert Works
Sidney Street
Sheffield
S14RG
09109r2025 GMT
Dated..

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 2024
2024
2023
Notes
Income from:
Investments
101,008
91,928
Expondlture on:
Investment management eosls
21,692
20,284
Charitable ath'vitios
119.954
113.507
Total 0X￿ndIture
141.646
133.791
Ng1 axpendlturg bgforg Invgstment galns
140.6381
141.8631
N81 galns on Snveslments
10
253,682
149.658
Not mov•m8nt In fund8
213.044
107.795
Fund balances al 1 January 2024
3,519.882 3,412.087
Fund balances at 31 December 2024
3,732,926 3,519.882
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 expenditure 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 2024
2024
2023
Notes
Flxod assets
Heritage assets
Investments
11
12
1.500
3,675.076
1,500
3,468,086
3.676.576
3,469,586
Currant a$sgt$
Debtors
Cash al bank and In hand
13
63
95,310
60,982
60,982
95,373
Credltors.. amounts falllng du• wlthln
one year
14
14,6321
145,0771
Net current assgls
56.350
50,296
Total a81frts1tr#8 Current Il*bllltle•
3,732,926
3,519,882
Unrestrlcted funds
General fund
Revaluation fund
3,134,995
597,931
3,229,882
290,000
3,732.926
3,519,882
3,732.926
3,519,882
The company 55 enlllled lo the exempllon from the audll requlrement contslned In sectlon 477 of the Companles Act
2006, for the year ended 310ecember 2024.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Acl 2006
with respect lo accounting record5 and the preparation of financial sialements.
The members have not rgquired Ihe company lo obtain an audit of its financial statements for 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 regirlle.
The financial statements were approved by the Members Of The Council on
0910912025 GMT
srghuf1D'.TorngcgpT...
Miss E S Murray
Truste•
SbrftrlO'W38QSG(SOWF..
Mr 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 2024
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 accorclance with the Financial Reporting Standard
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 Accepted Accounting Practice,
The financial stslemenls are prepared on a 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 approvlng the accounts, the Mem￿rS of the Counc51 have a reasonable expeclalSon that the
charity has adequate resources lo continue in operational exlslence 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 discretion of tho Members of the Council in furtherance of their
hariiablg objoctivos.
The unrestricted fund represents the original gift and subsequent gifts and undislribuled surpluses, together
with realised and unrealised gains and losses on investments, all of which rnay be applied without restriction
in furtherance of the objects of The Freshgale Trust Foundation.
1.4 Income
Income is recognised when the charitable company is legally entitled to il after any perfomance eJ)ndilions
have been mel, the amounts can be measured reliably, and il is probable that income will be received.
1.5 Expenditur•
Expgndilure is included on an accruals basis.
Grants payable are Charggd in the year whgn the offer is conveyod lo the r￿1plent except in those cases
where Ihg offer is Conditional, such grants being recognised as expenditure when the conditions are fulfilled.
Support costs are the running of The Freshgale Trust Foundation itself as an organisalion.
1.6 Herltsg& a$$et$
Gold pocket watch and chain formerly owned by Harry Brearfey, at a cost of £1,50012023- £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 2024
Accounting polici8S
(Continued)
1.7 Flxfyd a$$ot In¥8$tmènts
Fixed asset investments are initially measured at Iransacts'on price exduding transaction costs, and are
subsequently measured at fair value at each reporting dale. Changes in fair value are recognised in nel
incomellexpendilurel for the year. Transacts'on costs are expensed as incurred.
1.8 Cash and cash equlvalents
Cash and cash equivalents Include cash In hand, deposlls held al call with banks, other short-lerm Ilquld
inv8slm&nls with original malurilies of thre8 months or less. and bank overdrafts.
1.9 Flnanclal Instruments
The charitable company has elected lo apply the provisions of Section 11 '8asic Financial Inslrumenls, and
Section 12 '01her Financial Instruments Issues, ol FRS 102 to all of ils financial inslrumenls.
Financial inslrurnenls are recognised in the charitable company's bal8nce sheet when thè charitabl8 e£•mpany
becomes p8rty lo the eonlractual provisions of the instrument.
Financial assets and liabilities are offset. with the nel amounts presented in the financial stalemenls. whèn
there is a legally enforceable right lo sel off the recogni58d amounts and there is an intention lo sellle on a nal
basis or lo realise the asset and settle the liability simultaneously.
B•slc Iln•n¢l•l a¥$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¢l81114bllltle$
Financial liabililies are derecognis¢d when the charitable company's contractual obligations expire or are
discharged or cancelled.
Invastmgnts
2024
2023
Income from listed investments
101,008
91,928

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 2024
Invo$tm•nt managomenl ¢o$ts
2024
2023
Investment management fees
21,692
20,284
Charitable activitios
Grants Charltabl•
exp•ndltur&
2024
Total
Grants Charltable
•xpendlture
2023
Total
2024
2024
2023
2023
Website design costs
Bank charges
Secretarial lees
Independent examlnalion
fee
Miscellaneous
473
276
19,200
473
276
19,200
1,992
161
19,200
1,992
161
19,200
4,632
13
4,632
13
4,254
4,254
24,S94
24,S94
25,607
25,607
Grant funding of a¢livilio$
(see note 51
95,360
95,360
87,900
87,900
95,360
24,594
119,954
87,900
25,607
113,507
Nèt mov•mènt In funds
2024
2023
Thg ngt movemgnl in funds is stalgd after charging..
Fees payable for the independent examinallon of the charills financial
slalements
4,632
4,254
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 2024
Grants In furtherance of the Foundatlon's obJe¢tlvo$
2024
2023
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
11
14.950
3.500
23,750
3,650
49.510
13,500
8,250
10,500
21,850
37,800
15
29
21
59
95,360
55
91,900
Unclaimed gr8nls
14,0001
95,360
87,900
The Freshgale Trust Foundation does not award grants lo Indlvlduals except in the ease of educational
prizes lo students. This amounts lo nil this year I nil in 20231.
Employees
There were no employees during the ye8r12023'. none).
M•mb•r8 ol th• Councll
None of the Members of the Council Inor any persons connected with them) received any remuneration
during the year. There were no travel expenses reimbursed lo any Member of the Council in 2024 12023
The Secretsry, who is not a Member of th8 Council. is a p8rtner in a firm of Chartered Accoun18nls. Fees ol
£19,200 arg charged for her services and the servlces of the firm which undertakes 811 of the sgcrelari81
duties, prgparalion of annual accounts and provision of meeting facilities for the Members of Ihg Council.
Taxatlon
The company is considered to pass the tests set out in Sch. 6. para. 1 of Ihe Finance Act 2010 and therefore il
meets the definition ol a charitable company for UK corporation tax purposes. Accordingly, the company is
potentially exempl from laxalion in respect ol income or capital gains received within categories covered by
Pt. 11, Ch. 3 01 the Corporation Tax Act 2010 or s. 256 of the Taxation of Chargeable Gains Act 1992, to the
extent that such income or gains are applied exclusively lo chariiable 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 2024
10 Not galnslllo$$•$l on Inv•$tmonts
2024
2023
Noto
R8valuallon of Investments
Gainslllossesl on sale of inveslmenis
226,559
27,123
148,002
1,656
253,682
149,658
11
Horltage assets
At 1 January 2024 and at 31 DeC•M￿r 2024
1,500
12 Flxèd 4¥88t Investments
Movemènt In flxèd as8•t Inv08tment•
2024
2023
Al 1 Januèry 2024
Additions
Valuation changes
Disposals
3,444,686
908.082
226,559
1923,3941
3,319,449
468,780
148,002
1491,5451
3,655,933
19,143
3,444,686
23,400
C8sh
Al 31 December 2024
3,675,076
3,468,086
The historical cost of the fixed asset investments is £3,058,00212023 £3,154,686).
13 Debtors
2024
2023
Amounts falllng due wlthln one year:
Prepayments and accrued income
63
14 Creditors: amounts falling due within one year
2024
2023
Accruals and deferred income
4,632
45,077
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 2024
15 Flnanclal Instruments
2024
2023
Carrying amount of financial a55ets
Instruments measured al lair value through Income and exp8ndlture
3,675,076
3,468,086
Carrying amount of financial liabiliti89
Measured al amortised cost
4,632
45,077
16 Unr88trlctod fund8
Movement In funds
Income Expendlture
Transfers Inv•8tmènts Balancè at 31
galn811088•8
Doctmber
2024
Thls yoar
Balance at 1
January
2024
General fund
Revaluation fund
3,229,882
290.000
101,008
{141.6461
181,3721
81,372
27,123
226,559
3,134,995
597,931
3,519,882
101,008
{141,6461
253,682
3,732,926
Prlor yèar
Balance at 1
January
2023
Income Expendlturo
Tran¥fers Investments Balance at 31
galns11088es
Decemb•r
2023
General fund
Revaluation fund
3,287,856
124,231
91,928
{133.7911
117,7671
17,767
1,656
148,002
3,229,882
290,000
3.412.087
91,928
{133,7911
149,658
3,519,882
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 reslriclion in furtherance of the
objects of the Foundation.
Transfers are lo adjust the balance on the revaluation fund so il represents the difference between the total
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 2024
17 R•latod party tran$a¢tlon$
During the year grants were made lo Sheffield Family Holiday Fund of £3,0001202> £3,000) and St Luke's
Hospice of £1,700 12023 £2,000), Miss E S Murray is a Trustee of Sheffield Farnily Holiday Fund., Mr N A
MacDonald OBE was a Trustee of Sl Luke's Hospice until December 2023.
Thero were no othèr disclosable related party transactions during the ye8r12023- none).
14-