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||Reference and administrative|Reference and administrative|information|
|---|---|---|---|
|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|||||
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|||||Note||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|
##
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||||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|
##
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||||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|
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|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|
##
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##
|During the year institutional|grants|grants|were made for the following|charitable|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|
##
##
##
|4|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|
##
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##
||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|
##
##
|8|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|
##
##
|11|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|