2023-09-30-accounts - Frazer Trust

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	Reference and administrative	Reference and administrative
2-4	Report ofthe trustees
5-8	Independent auditor's	report
	Statement offinancial	activities
10	Balance sheet
	Statement ofcash flows
12 - 23	Notes to the financial	statements

		REFERE	NCE AND ADMINISTRATIVE INFORMATION	NCE AND ADMINISTRATIVE INFORMATION	NCE AND ADMINISTRATIVE INFORMATION	NCE AND ADMINISTRATIVE INFORMATION
			30SEPTEMBER2023
Registered	charity number:		235311
Working name:			The Joseph Strong Frazer			Trust
Correspondence		address:	First Floor
			One Strawberry	Lane
			Newcastle upon	Tyne
			NE1 4BX
Trustees:			RM H Read (Chairman)
			DA Cook
			U Fagandini
			SirWN H Reardon Smith Bt
			WIWaites
Auditor:			Armstrong Watson Audit			Limited
			One Strawberry	Lane
			Newcastle upon	Tyne
			NE1 4BX
Investment	advisers:		Rathbones incorporating			Investec Wealth &Investment	(UK)
			30Gresham Street
			London
			EC2V 7QN
Bankers:			Lloyds Bank pic
			102Grey Street
			Newcastle upon	Tyne
			NE99 1SL
			Flagstone Investment		Management
			1st Floor, Clareville House
			26-27 Oxendon	Street
			London
			SW1Y4EL

					Income	Capital
					fund	fund	2023	2022
Income from:
Investments					562,182		562,182	593,282
Expenditure on:
Raising funds					65,076	93,115	158,191	134,661
Charitable activities					556,319		556,319	576,512
Total expenditure					621,395	93,115	714,510	711,173
Net gains / (losses)	on investments:
Gains / (losses) on						426,767	426,767	(562,571)
revaluation ofinvestments
Realised gains / (losses)		on disposal of				52,468	52,468	(41,250)
investments
						479,235	479,235	(603,821)
Net income / (expenditure) funds in year			and net movement	in	(59,213)	386,120	326,907	(721,712)
Reconciliation offunds
Total funds brought	forward				628,347	14,443,890	15,072,237	15,793,949
Total funds carried	forward				569,134	14,830,010	15,399,144	15,072,237

			Note	2023	2022
Fixed assets
Tangible assets				583	783
Investments				14,815,883	14,429,801
				14,816,466	14,430,584
Current assets
Debtors				48,951	104,186
Cash at bank				574,211	591,945
				623,162	696,131
Liabilities
Creditors: Amounts		falling due within one year	10	(40,484)	(54,478)
Net current	assets			582,678	641,653
Total assets	less current liabilities			15,399,144	15,072,237
Funds
Capital				14,830,010	14,443,890
Unrestricted	income	funds		569,134	628,347
Total charity	funds			15,399,144	15,072,237

			2023	2022
Cash flows from operating activities:
Net cash used in operating activities			(673,069)	(709,988)
Cash flows from investing activities:
Dividends, interest and rents from investments			562,182	593,282
Purchase ofinvestments			(711,482)	(881,037)
Proceeds from sale ofinvestments			902,436	960,975
Net cash provided by investing activities			753,136	673,220
Change in cash in the year ended 30September 2023			80,067	(36,768)
Cash at 1 October 2022			703,165	739,933
Cash at 30September 2023		(b)	783,232	703,165
(a) Reconciliation ofnet income to net cash flow from operating	activities
Net income (expenditure) for the year ended 30 September 2023 (as
per the statement offinancial activities)			326,907	(721,712)
Adjustments for:
Depreciation oftangible fixed assets			200	200
Gains / (losses) on investments			(479,235)	603,821
Dividends, interest and rents from investments			(562,182)	(593,282)
Decrease / (increase) in debtors			55,235	(24,849)
Decrease / (increase) in creditors			(13,994)	25,834
Net cash used in operating activities			(673,069)	(709,988)
(b) Analysis ofcash at 30September 2023
Cash with Flagstone Investment Management			333,762	415,341
Cash with Lloyds Bank pic			240,449	176,604
			574,211	591,945
Cash held by investment adviser			209,021	111,220
			783,232	703,165

2	Income from investments	Income from investments				2023	2022
	Dividends and interest	receivable				413,565	450,959
	Interest on cash deposits					6,214	4,550
	Investment properties -	rental income				142,403	137,773
						562,182	593,282
3	Expenditure on raising		funds	Income	Capital
				fund	fund	2023	2022
	Investment management			4,648	88,315	92,963	95,953
	Property costs
	Repairs and maintenance			34,153		34,153	11,933
	Management, insurance		and other costs	24,945		24,945	20,423
	Legal and professional	fees		360	4,800	5,160	5,242
	Bank management fees	and charges		970		970	1,110
				65,076	93,115	158,191	134,661

During the year institutional	grants	grants	were made for the following	purposes:-
				Number	2023	2022
Children				29	47,000	45,000
Youth				28	38,600	36,600
Old and infirm				3	6,000	5,000
Hospitals and home (and	connected activities)			23	39,250	42,250
Deaf and blind				17	34,500	34,000
Disabled				12	20,000	22,000
Mentally handicapped				5	8,500	8,500
Medical and other research				61	113,000	119,000
Maritime				13	18,000	18,000
Armed forces				9	15,500	14,500
Caring organisations				47	72,500	72,000
Other trusts, funds and voluntary			organisations	28	47,500	51,500
Schools and colleges				4	4,000	4,000
Leisure activities, animals	and wildlife			24	42,000	43,500
Religious bodies				8	12,500	20,500
				311	518,850	536,350
Institutional grants ofK2,000		and	over		Number
Action on Hearing Loss						2,000
Age UK						2,000
Alington House Community						2,000
Alzheimer's Research Trust						2,500
Alzheimer's Society						3,000
Arthroplasty for Arthritis	Charity					2,000
Asthma UK						2,000
Barnet Bereavement Service						2,000
Beating Bowel Cancer						2,500
Bendrigg Trust						2,000
Blond Mclndoe Research	Centre					2,000
Blue Lamp Foundation						2,000
Blyth Star Enterprises Limited						2,000
Blyth Tall Ship						2,000
Boarbank Hall Convalescent		Home				2,000
Bowel Cancer UK						2,000
Bowel Disease Research Foundation						2,000
Breast Cancer Care						2,500
British Heart Foundation						2,000
British Institute for Brain	Injured		Children			2,000
British Lung Foundation						2,000
Cancer Research in Wales						2,000
Carried forward					22	46,500

Grants (continued)
Institutional grants of	f2,000	and over (continued)	Number
Brought forward				22	46,500
Centrep oint					2,000
Cerebal Palsy Cymru	(was Bobath Cymru)				2,000
Chance UK Ltd					2,000
Cherry Trees					2,500
Child Neurology Fund					2,000
Children North East					2,000
Children's Cancer North					2,000
Children's Society					2,000
City Hospice					2,000
City Year UK					2,000
Cleft Lip and Palate Association					2,000
CLIC Sargent					2,000
Colostomy Association					2,000
Combat Stress					2,000
Community Forest Trust					2,000
Complicite					2,000
Coram					2,000
Coram Family					2,000
Crohn's in Childhood	Research Association				3,000
Cystic Fibrosis Trust					2,000
Deafblind UK					2,500
DEBRA					2,000
Dementia UK					3,000
Diabetes UK					2,000
Elsing Parochial Church Council					2,000
Evening Chronicle Sunshine		Fund			2,000
Fight for Sight					2,000
Forest Holme Hospice	Charity				2,000
Future Trees					2,000
Great North Air Ambulance					2,000
Guide Dogs For the Blind Association					2,500
Headway East London					2,000
Hearing Dogs					2,000
Heart Research Wales					2,000
Helen &Douglas House					2,000
Helen Arkell Dyslexia	Centre				2,000
Hospice Care North Northumberland					2,000
Hospice in the Weald					2,000
Independent Age					2,000
Inspire Foundation					2,000
Institute ofCancer Research					2,000
Josie's Dragonfly Trust					2,000
Jubilee Sailing Trust					2,000
Carried forward				65	136,000

		F	OR	THE YEAR ENDED 30SEPTEMBER	2023
4	Grants (continued)
	Institutional grants off2,000and over (continued)				Number
	Brought forward					65	136,000
	Kids Cancer Charity						2,000
	Leukaemia Care						2,000
	Listening Books						2,000
	London Wildlife Trust						2,000
	London's Air Ambulance						2,000
	MacMillan Nurses						2,500
	MACS						2,000
	Maggie's Centres						2,500
	Marie Curie Memorial Foundation,			Penarth			2,000
	Mencap						2,000
	MHA Communities Gateshead		West				2,000
	Mildmay						2,000
	Minerva Centre						2,000
	Mission to Seafarers						1,500
	Moorfields Eye Charity						2,000
	Motor Neurone Disease Association						2,000
	Muscular Dystrophy Group						2,000
	Myeloma UK						2,000
	National Botanical Gardens of		Wales				2,000
	National Eczema Society						2,000
	National Literacy Trust						2,000
	National Meningitis Trust						2,000
	National Rheumatoid Arthritis		Society				2,000
	National Youth Choirs of	Great Britain					2,000
	Newcastle Foodbank						2,000
	Newcastle United Foundation						2,000
	Newcastle Vision Support						2,000
	North London Hospice						2,000
	Northern Stage						2,000
	Northumbria Calvert Trust						2,500
	Not Forgotten Association						2,000
	NSPCC Cymru						2,000
	Pain Relief Foundation						2,000
	Penarth Headland Link						2,000
	Peoples Kitchen Limited						3,500
	People's Theatre						2,500
	Percy Hedley Foundation						2,500
	Percy Hedley Foundation	(Northern		Counties School for the Deaf)			2,000
	Polka Theatre						2,000
	Potential Plus UK						2,000
	Princess Alice Hospice						2,000
	Prisoners Abroad						2,000
	Prisoners' Education Trust						2,000
	Prospect Hospice Ltd						2,000
	Prostate Cancer Research	Trust					2,000
	Carried forward					110	229,500

		F	OR THE YEAR ENDED 30SEPTEM	BER2023
4	Grants (continued)
	Institutional grants off2,000and over (continued)			Number
	Brought forward			110	229,500
	Prostate Cancer UK				2,000
	Quest Riding Group for the Disabled				2,000
	Reeds School				2,000
	Restricted Growth Association				2,000
	Rhoose Community Library				2,000
	RNLI Appledore				2,000
	Royal British Legion				2,000
	Royal Marsden Cancer Charity				2,000
	Royal National College for the Blind				2,000
	Royal National Mission to Deep		SeaFishermen		1,000
	Royal Osteoporosis Society				2,000
	Royal Trinity Hospice				2,500
	Samson Centre for MS				2,000
	Scope				2,000
	Search: Services for Older People				2,000
	SeeAbility				2,000
	Sense,National Deaf-Blind and Rubella Association				2,000
	Shine				2,000
	Shooting Star Children's Hospices				2,500
	Sight Research UK (was National Eye Research Centre)				2,000
	Society for Mucopolysaccharide		Diseases		2,000
	Somerset Wildlife Trust				2,000
	Special Boat Service Association				2,000
	Spinal Injuries Association				2,000
	Spinal Muscular Atrophy Support UK				2,000
	SSAFA, Tyne &Wear				2,000
	StGiles Trust				2,000
	Stepney Bank Stables				2,500
	Stroke Association				2,000
	Support Dogs				2,000
	Support Our Paras				2,000
	Surfers Against Sewage				2,000
	Sustrans				2,000
	T.S.Cardiff Unit No. 68ofthe	Sea Cadet Corps			2,000
	Teenager Cancer Trust				2,000
	Terrence Higgins Trust				2,000
	The AHOY Centre				2,000
	The Brain Tumour Charity				2,000
	The Charlie Wailer Memorial	Trust			2,000
	The Childrens Literacy Charity				2,000
	The Donor Conception Network				2,000
	The Evelina Childrens Hospital		Appeal		2,000
	Carried forward			152	314,000

		FOR THE YEAR ENDED 30SEPT	EMBER2023
4	Grants (continued)
	Institutional grants off2,000and over (continued)		Number
	Brought forward		152	314,000
	The Fountain Centre			2,500
	The Friends ofThe Cathedral ofthe Forest			2,500
	The Gurkha Welfare Trust			2,000
	The Hextol Foundation			2,000
	The Josephine and Jack Project			2,000
	The National Brain Appeal			2,500
	The Olive Branch			2,000
	The Pace Centre Ltd			2,000
	The Parochial Church Council ofSugley			3,000
	The Prince's Trust, Cymru			2,000
	The Royal College ofSurgeons			2,000
	The Royal Free Charity			2,000
	The Royal School for the Blind, Liverpool			2,000
	The Royal Star &Garter Home			2,000
	The Seafarers' Charity			2,000
	The Sick Chldren's Trust			2,500
	The Soldiers' Charity			2,000
	The Toby Henderson Trust			2,000
	The Wildfowl &Wetlands	Trust		2,000
	Tinnitus UK			2,000
	Tuberous Sclerosis Association			2,000
	Tyne Amateur Rowing Club			2,500
	Upper Teesdale Agricultural	Support Services Ltd		2,500
	Volunteering Matters			2,000
	Wag &Co			2,500
	Welsh College ofMusic &	Drama		2,500
	Welsh National Opera Ltd			2,500
	West Horsley Village Hall			2,500
	Willow Burn			2,000
	Women in Need			2,000
	World Sight Foundation			2,000
	Young Enterprise			2,000
	Institutional grants of%2,000 and over		185	384,000
	Institutional grants less than %2,000		126	134,850
			311	518,850

	Total expenditure					Income	Capital
						fund	fund	2023	2022
	Charitable activities:
	Grants payable (see	note 4)				518,850		518,850	536,350
	Support costs:
	Auditors' fees for	other services				8,210		8,210	9,414
						527,060		527,060	545,764
	Governance costs:
	Annuities to trustees					938		938	1,125
	Trustees' liability insurance					1,986		1,986	1,930
	Auditors' fees for audit services					3,850		3,850	3,630
	Auditors' fees for other services					18,474		18,474	21,264
	Meeting, travelling	and other	expenses			3,811		3,811	2,599
	Depreciation					200		200	200
						29,259		29,259	30,748
	Total expenditure	on charitable
	activities					556,319		556,319	576,512
6	Transactions with	trustees
								2023	2022
	Under the terms ofthe will trust			each ofthe	trustees receives the sum of
	f150which together	with the	income tax due amounts			to f188.The
	amount charged in the financial			statements	is:			938	1,125
	The trustees who acted during		the year received reimbursement
	for travelling, subsistence and		other expenses incurred			on behalf ofthe
	trust. Five ofthe trustees (2022:			4)have received reimbursement
	during the year, the	aggregate	amount being					1,819	1,874
	The trustees did not	receive any		emoluments	during the year.

	Tangible fixed assets
					Office
					equipment
	Cost
	At 1 October 2022				1,000
	Additions
	At 30 September 2023				1,000
	Depreciation
	At 1 October 2022				217
	Charge for year				200
	At 30 September 2023				417
	Net book value
	At 30 September 2023				583
	At 30 September 2022				783
8	Investments			2023	2022
	Investments at fair value comprised:
	i) Listed investments			11,579,362	11,291,081
	iiInvestment properties			3,027,500	3,027,500
	Cash available for reinvestment	by investment	advisers	209,021	111,220
				14,815,883	14,429,801
	i) Listed investments			2023	2022
	At 1 October 2022			11,291,081	12,539,840
	Additions at cost			711,482	881,037
	Disposals at carrying value			(849,968)	(1,002,225)
	Unrealised gains (losses) on revaluation			426,767	(1,127,571)
	At 30 September 2023			11,579,362	11,291,081

Investments	(continued)	(continued)	2023	2022
Listed investments		at market value comprised:
UK equity	shares		5,339,191	5,160,779
Overseas	equity shares		3,040,071	2,856,072
Alternative	assets		869,246	989,611
Property			334,103	397,973
UK fixed	interest	securities	1,657,691	1,350,660
Overseas	fixed interest securities		339,060	535,986
			11,579,362	11,291,081

iiInvestment properties	2023	2022
Freehold properties
At I October 2022	3,027,500	2,462,500
Unrealised gains on revaluation		565,000
At 30 September 2023	3,027,500	3,027,500
Historical cost at 1 October 2022 and 30 September 2023	359,443	359,443

9	Debtors		2023	2022
	Dividends and interest	receivable	39,217	42,843
	Amounts due from tenants		5,715	7,058
	Prep ayments		2,564	2,051
	Other debtors		1,455	52,234
			48,951	104,186
10	Creditors: amounts	falling due within one year	2023	2022
	Accruals		40,484	49,887
	Other creditors			4,591
			40,484	54,478

Analysis ofnet assets between funds	Analysis ofnet assets between funds			2023
		Capital	Income	Total
Fixed assets		14,875,418	(58,952)	14,816,466
Current assets		(38,083)	661,245	623,162
Current liabilities		(7,325)	(33,159)	(40,484)
		14,830,010	569,134	15,399,144
Analysis ofnet assets between funds	—previous year			2022
		Capital	Income	Total
Fixed assets		14,484,678	(54,094)	14,430,584
Current assets		(33,283)	729,414	696,131
Current liabilities		(7,505)	(46,973)	(54,478)
		14,443,890	628,347	15,072,237