Charity registration number 242190
A S CHARITABLE TRUST
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023

A S CHARITABLE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Tru$ts9S
Mr G W Calvocoressi
Mrs C Eady
Mr S C Sampson
Mr M J Silver
{Appointed 8 November
20231
IAppointed 8 November
20231
Ms E J ca1voc0￿$s1
Charlty number
242190
Registered office
Henley-on-Thames
Audltor
AzetsAudit Services
Ashcombe Court
Woo15ack Way
Godalming
Surrey
GU7 1LQ
Bankers
Royal Bank of Scotland plc
49 Charing Cross
Admiralty Arch
London
SW1A2DX

A S CHARITABLE TRUST
CONTENTS
Pagg
Trustees. report
Independent auditorfs report
Statement of financial activities
Balance sheet
Notes to the financial statements
9-18

A S CHARITABLE TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 5 APRIL 2023
The trustees present their annual report and financial statements for the year ended 5 April 2023.
The financial slalemènts have been prepared in accordance with the accounting policies set out in note 1 to the
financial statements and comply with the ¢harily's goveming document, the Charities Act 2011 and °A¢counling
and Reporting by Charities". Slalemenl of Recommended Practice applicable lo charities preparing their accounts
in a¢¢ordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. las
amended for accoLJnting periods commencing from 1 January 20161
ObJectlves and actlvltles
The charity's objects are to benefit such charitable purposes or charitable institutions in such manner as the
trustees from lime to lime think fil.
The trustees assess grant applications received and review the ongoing support provided to certain charities.
The trustees are conscious of the value of grants made relative lo income received. This year end, grant
expenditure Is 75°h 12022 _ 470/0) of income excluding the gift from Guy Fawkes Charitable Trust which the
trustees consider appropriate.
The Iru5tees have paid due regard to ouid8nce issued by the Charity Commission in deciding what activities the
charity should undertake.
Achievements and pèrformance
Flnanclal revlew
11 is the Policy of the charity that unreslricled funds which have not been designated for a specnlc use should be
maintained at a level equivalent to between three and six month's expenditure. The trustees consider that
reserves at this level will ensure that, In the event of a significant drop in funding, they will be able to continue the
charity'5 current activities while consideration 15 given lo ways In which additional fund5 may be raised. This level
of reserves has been maintsined throughout the year. Al year end, the charity had lotsl funds of £22,433k12022'.
£21,489kl, of which all were unreslricled.
The charity's income and expenditure for the year and the financial position al the end of the year were as
disclosed in the attached financial slatemenls, which the trustees consider lo be satisfactory.
On 5 April 2023 the Trustees accepted the assets of the Guy Fawkes Charitsble Trust. On 8 November 2023 we
also accepted Elfrida Calvocoressi. the Chair of Guy Fawkes Charitable Trust onto our board of trLJStees and
have also added a Treasurer Trustee lo the board. The aims, purposes and working practices of Guy Fawkes are
substantially similar to our own and we anticipate that a select number of Guy Fawkes grant recipients may
benefit from AS Charitable Trust resources.
The charity continues lo add surplus income lo ils capital as the trustees anlicipale that in the future a full lime
adminislralor will have lo be appointed and they do not wish lo become dependent on public donations to
support administrative personnel. They also wish lo have sufficient reserves lo make a few larger donations.
The underlying level of investment income is similar to the previous year. The investments are stated at mid-
market value, based on the mid-market valuation prepared by the investment managers. The nel decrease in
market value is included in the Statement of Financial Activities.
The trust is particularly sympathetic lo projects, which combine the advancement of the Christian religion, with
Christian lay leadership, wth Third World development, wth peace making and reconciliation or other areas of
social concern.
During the year donations were made lo ¢harrties known to the trustees and whose aims they support. The
trustees, aim is to continue making donations to charities that need assistance and are known to them and lo
relain maximum flexibility as set out in the trust deed.

A S CHARITABLE TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2023
Investment pollcy
There are no restrictions on how the charity can invest tts funds. It is intended that the capitsl of the trust will
remain invested in stocks and shares.
The charity has indicated lo ils Investment Manager that all investments should be suitable for Charities and
should not indude any direct investment in tobacco companies or gambling, especially casinos.
The charity has made an equity investment into residential property. The trustees consider this exposure lo be
sensible in the context of the charity.
Risk management
The trustees have assessed the major risks lo which the charity is exposed, and are satisfied that systems are in
place to mitigate exposure lo the major risks.
The charity does not seek donations and depends on its income from the investment portfolio. It only provides
donations to charities of which il has some knowledge.
The trustees maintain Currency with the markets from a layman's perspective whilst maintaining dose contact
with the stockbroker whose regular reports clearly illustrate their performance relative lo the agreed benchmark
indices.
Exposure lo property markets is a considered diversrficalion of capital investment. Such property investment is
long term and does not inhibit the availability of funds for the running of the charity.
Future direction
The charity has developed confidence in beneficiaries thus will consider increasing the weighting of their support
and will remain passively open lo new partners.
Structure. goveman¢e and management
The charity was established by Trust Deed dated 10 February 1965 by Mr Roy Calvocoressi and is a registered
charity No. 242190.
The trustees who served during the year and up lo the dale of signature of the financial slalements were..
Mr G W Calvocoressi
Mrs C Eady
Mr S C Sampson
Mr M J Silver
Ms E J Calvo¢oressi
IAppoinled 8 November 2023}
(Appointed 8 November 2023)

A S CHARITABLE TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 5APRIL 2023
ststement of trustees. responslbllltles
The trustees are responsible for preparing the Trustees. Report and the financial ststements in accordance with
applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting
Practi￿1.
The law applicable lo chaTilies in England and Wales requires the trustees lo prepare financial stslemenls for
each financial year which give a true and fair view of the stale of affairs of the charity and of the incoming
resources and application of resources of the charity for that year.
In preparing these financial ststemenls, the trustees are required to..
select suitable accounting policies and then apply them consistenuy.,
observe the methods and principles in the Charities SORP.,
make judgements and eslimales that are reasonable and prudent.,
slate whether applicable accounting standards have been followed. subject lo any material departures
disclosed and explained in the financial statements., and
prepare the finanaal statements on the going concern basis unless it is inappropriate to presu￿￿ that the
charity will continue in operation.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy al
any lime the financial position of the charity and enable them lo ensure that the financial statements comply with
the Charities Act 2011, the Charity IAc¢ounls and Reports) Regulations 2008 and the provisions of the trust
deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps
for the prevention and detection of fraud and other irregularities.
stees, r
port was approved by the Board of Trustees.
ssl
Mrs C Eady
Trustee
Dated".
Trustee
2 Februa
2024
2 February 2024
Mr S C Sampson
Trustee
Dated..
2 February 2024

A S CHARITABLE TRUST
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF A S CHARITABLE TRUST
Oplnlon
We have audited the financial statements of A S Charitable Trust (the 'charity'l for the year ended 5 April 2023 which
comprise the statement of financial activities, the balance sheet and the notes to the financial statements, including
a summary of significant accounting policies. The financial reporting framework that has been applied in their
preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard
102 The Financial Reporting Standard applicable the UK and Republic of Ireland (United Kingdom Generally
Accepted Accounting Practice).
In our opinion, the financial slatemenls".
give a true and fair view of the slate of the charity's affairs as al 5 April 2023 and of ils incoming resour￿$ and
application of resou￿$. for the year then ended..
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi￿,.
and
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for oplnlon
We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable
law. Our responsibilities under those standards are further described in the Auditorts ￿spOnSIbl1rt1eS for the audit ol
the financial slalements section of our report. We are Independent of the charity in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical
Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe
that the audit evidence we have obtsined is sufficient and appropriate lo provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial slatemenls. we have concluded that the Iruslees, use of the going concem basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have nDI identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the charity's ability lo continue as a going
concern for a period of at least twelve rnonlhs from when the financial slalements are authorised for issue.
Our responsibilities and the responsibilities of the trustees Imth respect lo going concern are described in the
relevant sections of this report.
Other inforniation
The other information comprises the information induded in the annual report other than the fina￿la1 statements
and our auditorfs report thereon. The trustees are responsible for the other information contained within the annual
report. Our opiniDn on the financial statements does not cover the other infomiation and we do not express any fomi
of assurance conclusion Ihereon. Our responsibility is lo read the other Information and, in doing so, consider
whether the other Information is materially inconsistent wth the financial slalements or our kno￿edge obtained in
the course of the audit, 01 otherwise appears to be materially misstated. If we identify such malerral Inconsi51encies
or apparent material misstslemenls, we are required lo determine whether this gives rise lo a material misstalemenl
in the financial stslemenls themselves. If, based on the work we have performed, we conclude that there is a
material misstslement of this other information, we are required lo report that fact.
We have nothing to report in this regard.
Matters on which wg ar& requirod to report by 8xception
We have nothing to report in respect of the followng mallers in relation lo which the Charities (Accounts and
Reports) Regulations 2008 require us lo report lo you if, in our opinion..
the informab'on given in the financial ststemenls is inconsistent in any material respect with the trustees,
report., or
sufficient accounting records have not been kept., or
the financial slalements are not in agreement with the accounting records.. or
we have not received all the information and explanations we reqLJire for our audit.

A S CHARITABLE TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF A S CHARITABLE TRUST
Responslbllltles of trustees
As explained more fully in the ststement of trustees, responsibilities, the trustees are responsible for the preparation
of the finanaal statements and for being satisfied that they give a true and fair view, and for such internal control as
the trustees delemiine is ne￿SSary to enable the preparation of financial statements that are free from material
misslalement, whether due lo fraud or error. In preparing the financial stalemenls, the trustees are responsible for
assessing the charity's ability lo continue as a going concem, disclosing, as applicable, matters related lo going
concern and using the going concem basis of accounting unless the trustees either intend to Cease operations, or
have no realistic altemalive but to do so.
Auditorfs responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordan￿ wth the
Act and relevant regulations made or having effect thereunder.
A ftjrther description of our responsibilities is available on the Financial Reporting Council's website at.. https.'Il
www.frc.org.LJklauditorsresponsibilities. This description fomis part of our auditor's report.
Extant to whlch th8 audlt was consld8red capabl8 of dètectlng Irr8gularltl8s, Includlng fraud
Irregularities. induding fraud, are instances of non-compliance with laws and regulations. We design procedures in
line wth OLJr responsibilities. outlined above and on the Financial Reporting Council's website, to detect material
misstatements in respect of irregularities, including fraud.
We obtain and update our understanding of the entity, its activities, ils control environment, and likely future
developments, including in relation lo the legal and regulatory framework applicable and how the entity is complying
with that framework. Based on this understanding, we identify and assess the risks of material misstalemenl of the
financial stalemenls, whether due lo fraud or error, design and perfom audit procedures responsive to those risks,
and obtain audit evidence that is sufficient and appropriate lo provide a basis for our opinion. This includes
consideration of the risk of acts by the entity that were contrary to applicable laws and regulations. including fraud.
In response to the risk of irregularities and non-compliance wth laws and regulations, including fraud, we designed
procedures which Induded..
Enquiry of management and those charged with governance around actual and potential litigation and
claims as well as actual, suspected and alleged fraud",
Assessing the extent of compliance with the laws and regulations considered to have a direct material
effect on the financial ststements or the operations of the entity through enquiry and inspection..
Reviewing financial ststement disclosures and lesling to supporting documentation to assess compliance
with applicable laws and regulations.,
Performing audit work over the risk of management bias and override of controls, including testing of
journal entries and other adjustments for appropriateness, evaluating the business rationale of significant
transactions outside the normal course of business and reviewing accounting estimates for indicators of
polenli81 bias.
8e¢ause of the inherent limitations of an audit, there is a risk that we will not delect all irregularities, including those
leading to a material misslalement in the financial slalemenls or non-compliance with regulation. This risk
increases the more that Complian￿ with a law or regulation is removed from the events and transactions reflected
in the finanaal statements, as we will be less likely to become aware of instances of n0￿coMplianCe. The risk of
not detecting a material misslatemenl resulting from fraud is higher than for one resulting from error, as fraud may
involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
other matters
Your attention is drawn to the lad that the charity has prepared financial statements in accordance with "Accounting
and Reporting by Charities". Statement of Recommended Practice applicable to Charities preparing their accounts in
accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021" las
amended) in preference to the Accounting and Reporting by Charities.. Slalement of Re￿mmended Practice issued
on 1 April 2005 which is referred lo in the extant regulations but has now been withdrawn.
This has been done in order for the finanaal statements lo provide a true and fair view in accordance with current
GenerallyAc￿pIed Accounting Practice.

A S CHARITABLE TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF A S CHARITABLE TRUST
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with part 4 of the Charities (Accounts
and Reports) Regulations 2008. Our audit work has been undertaken so that we might stale to the charity's trustees
those matters we are required to slate lo them in an auditor's report and for no other purpose. To the fullest extent
permitted by law, we do not accept or assume responsibility lo anyone other than the charity and the charity s
ttuslees as a body, for our audit work, for this report, or for the opinions we have formed.
Robert Southey (Senior Statutory Auditor)
for and on behalf of Azets Audit Sarvicgs
2 February 2024
Chartergd A¢¢ountsnts
Statutory Auditor
Ashcombe Court
Woolsack Way
Godalming
Sutrey
United Kingdom
GU7 1LQ
Azets Audit Services is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as
auditor of a company under section 1212 of the Companies Act 2006.

A S CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 5 APRIL 2023
Unrestrlcted
funds
2023
Total
2022
Notes
Donations and legacies
Investments
3,001,998
506,059
432,151
Total income
3,508,057
432,151
Charitable adivities
514,927
202,728
Net gainslllossesl on investments
11
12,049,166) 1,653,926
Net Incomlng re$ource$
943,964
1,883,349
Other recognlsed galns and losses
other gains or losses
1141
Net movement in funds
943,964
1,883,335
Fund balances al 6 April 2022
21.488,671 19,605,336
Fund balances at S April 2023
22,432,635 21,488,671
The ststemenl of financial activities includes all gains and losses recognised in the year.
The total funds are unreslricled.
All income and expenditure derive from wntinuing activities.

A S CHARITABLE TRUST
BALANCE SHEET
AS AT 5 APRIL 2023
2023
2022
Notes
Fixèd assets
Tangible assets
Investments
13
14
494
20,911,590
658
20,197,391
20,912,084
20.198,049
Curr&nt assets
Debtors
Cash at bank and in hand
46,485
1,562,055
72,488
1,272,894
1,608,540
1,345,382
Credltors: amounts falllng due wlthln
one year
16
177,9891
153,1601
Net current assets
1,530,551
1,292,222
Totsl assets less current liabilities
22,442,635
21,490,271
Creditors: amounts falling due after
more than one year
17
110,0001
11,6001
Net assets
22,432,635
21,488,671
Income funds
Unrestricted funds
22,432,635
21,488,871
22,432,635
21,488,671
Th
2 February 2024
ternenls were approved by the Trustees on .........................
(J￿r G"Vtrrvoco
Trustee
Mrs C Eady
Trustee
Mr S C Sampson
Trustee

A S CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023
Accountlng pollcles
Charity infomiation
A S Charitable Trust is a charity registered in England and Wales.
1.1 Accountlny conventlon
The financial statements have been prepared in accordance with the charity's goveming document. the
Charities Act 2011, FRS 102 The Financial Reporting Standard applicable in the UK and Republic of
Ireland" l°FRS 102,1 and the Charities SORP 'Accounting and Reporting by Charities." Statement of
Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective 1 January 20191. The
charity is a Public Benefit Enlily as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Ststgnent of
Cash Flows.
The finanaal statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to
the extent required to provide a true and fair view. This departure has involved following the Statement of
Recommended Practice for charities applying FRS 102 rather than the version of the Statement of
Recommended Practi￿ which is referred lo in the Regulations but which has Sin￿ been withdrawn.
The financial statements are prepared in sterfing, which is the functional currency of the charity. Monetary
amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include certain
financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2 Golng concern
Al the lime of approving the financial statements, the trustees have a reasonable expectation that the charity
has adequate resources lo continue in operational existence for the forèseeable future. Thus the trustees
continue to adopt the going concern basis of accounting in preparing the financial stslemenls.
1.3 Charltable funds
Unreslricled funds are available for use al the discretion of the trustees in furtherance of their charitable
objectives.
1.4 Income
Income is recognised when the charity is legally entiled to il after any perfomiance conditions have been met,
the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified
of the donation, unless perfomiance condV(ions require deferral of the amount. Income lax recoverable in
relation to donations received under GiftAid or deeds of covenant is recognised at the lime of the donation.
Assets for distribution are recognised only when distributed. Assets given for use by the charity are
recognised when receivable. Stocks of undistributed donated goods are not valued for balan￿ sheet
purposes.
The nel realised gains from investments are included as part of other recognised gains and losses rather than
incoming resources as the trustees, current policy is to preserve capital and only make the income wising
from il available for grants.

A S CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2023
A¢¢ounllng poll¢lg$
Icontlnugdl
Income from quoted investments is shown net. the related tax Creditslincome lax being shown as inwme tax
repayable and is shown in the Statement of Finanaal Activities in the year in which it is receivable.
The trustees are of the opinion that it is the regular flow of nel income which is immediately available for
grants and their policy for awarding grants is not affected by changes in lax legislation which may arise from
lime to lime.
1.6 Expendlture
Expenditure is recognised once there is a legal or constructive obligation lo transfer economic benefit lo a
third party, It is probable that a transfer of economic benefits will be required in settlement, and the amount of
the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of dir￿1 costs and
shared costs, including support costs involved in undertaking each activity. Direct costs attributable lo a single
activity are allocated directly lo that activity. Shared costs which contribute lo more than one activity and
support costs which are not attributable to a single activity are apportlDned be￿en those activitEs on a basis
consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and
depreciation charges are allocated on the portion of the asset's use.
All expenditure is included on an accruals basis and is ￿cOgnised when there is a legal or constructive
obligation lo pay for expenditure. The trust is not registered for VAT and accordingly expenditure is shown
gross of irrecoverable VAT.
Grants payable are payments made to third parties in the furtheran￿ of the charitable objects of the Trust. In
the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award.
The notification gives the recipient a reasonable expectation that they will receive the one year or multi-year
grant. Grants awards that are subject lo the recipient fulfilling performance conditions are only accrued when
the recipient has been notrfied of the grant and any remaining unfulfilled conditions attaching lo that grant are
outside of the control of the Trust.
1.6 Tanglble flxed a$$ets
Tangible fixed assets are initially measured at cost and subsequently measured al cost, net of depreciation
and any Impairment losses.
Depre¢ialion is recognised so as to write off the cost of assets less their residual values over their useful lives
on the following bases..
Office equipment
25% reduang balance method
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds
and the carrying value of the asset, and is recognised in the slalement of financial activities.
10-

A S CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2023
A¢¢ounllng poll¢lg$
Icontlnugdl
1.7 Flxod asset invostment$
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are
subsequently measured at fair value at each reporting dale. Changes in fair value a￿ recognised in nel
incomellexpenditurel for the year. Transadion costs are expensed as incurred.
The quoted investments are stated at middle market price, as valLJed by Quilter Cheviot Limited.
The unquoted investment is stated at cost. The trustees are of the opinion that the market value CA the
unquoted Investments are not materially different to its cost and including it al cost does not materially affect
the true and fair view of the accounts.
Should there be any permanent diminution in the value of these investments, the Iruslees will make the
necessary provision in the accounts al that lime.
1.8 Impalrment of flxed assets
Al each reporting end date, the charity reviews the carrying amounts of its tangible assets to detemine
whether there is any Indication that those assets have suffered an Impaiment loss. If any such Indication
exists, the recoverable amount of the asset is eslimaled in order lo detemiine the extent of the impaimenl
loss lif any).
1.9 Cash and cash equivalents
Cash and cash equivalents Indude cash in hand, deposits held 81 call with banks, other short-lerm liquid
investments with original malurilies of th￿e months or less, and bank overdrafts. Bank overdrafts are shown
wthin borrowings in Current liabilities.
1.10 Financial instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12
'other Financial Instruments Issues, of FRS 102 to all of its finanaal instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party lo the
contractual provisions of the inslrumenl.
Financial assets and liabilities are offset, with the net amounts presènted in the financial stalemenls, when
there is a legally enforceable right lo set off the recognised amounts and there is an intention lo sellle on a net
basis or lo realise the asset and settle the liability Simu￿aneOUSly.
8aslc flnanclal assets
Basic financial assets, which indude debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the effective
interest method unless the arrangement conslilules a financing Iransaclion, where the transaction is
measured at the present value of the future receipts discounted al a market rale of interest. Financial assets
classified as receivable within one year are not amortised.
Other linancial assets
Other financial assets, induding investments in equity instruments which are not subsidiaries, associates or
joint ventures, are initially measured at fair value, which is nomially the transaction price. Such assets are
subsequently carried at fair value and the changes in fair value are recognised in net incomellexpenditurel,
except that investments in equity instruments that are not publicly traded and whose fair values cannot be
measured reliably are measured al cost less impairment.

A S CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2023
A¢¢ounllng poll¢lg$
Icontlnugdl
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised al transaction price unless
the arrangement conslilules a financing Iransaclion, where the debt instrument is measured al the prèsent
value of the future payments discounted at a market rale of interest. Financial liabilities classified as payable
wthin one year are not amortised.
Debt instruments are subsequenuy carried al amortised cost, using the effective interest rale method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or
cancelled.
1.11 Employeg bengfits
The cost of any unused holiday enliUement is recognised in the period in which the employee's services are
received.
Temiination benefits are recognised immediately as an expense when the ¢harily is demonstrably committed
lo lerminale the employment of an employee or to provide termination benefits.
Transactions in foreign currencies are recorded al the rates ruling al the date of the transactior6, and assets
and liabilities at the balance sheet dale are converted at the rale ruling on that dale.
Crltlcal accountlng estlmates and Judgements
The preparation of financial statements in compliance wlh FRS102 requires the use of certain accounting
eslimales. 11 also requires management lo exercise judgement in applying the accounting policies.
Critical judgements
Investment valuation
The valuation of investments is ¢onsidered an area of judgement. The ¢harily uses their investment manager
lo value their portfolio of listed investments on a quarterly basis.
For other investments, an external party has provided a valuation against the properties the loans relate lo.
Donatlons and 1oga¢lg$
Unrestrlcted
funds
Totsl
2023
2022
Donations and grfts
3,001,998
12-

A S CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2023
Guy Fawkes Charltable Trust glft
Guy Fawkes Charitable Ttusl was 8 related charity due to mutual trustees. A decision was made lo dose the
charity during the year with A S Charitable Trust as the beneficiary of the assets as both Charities have similar
aims, purposes and working practices. Net assets lolalling £3,001,998 were transferred lo the Trust on 5 April
2023 comprising of the following..
Investments
Cash at bank and in hand
Other debtors
Other Creditors
2,725,383
279,342
2,891
5,619
3,001,998
Investments
Unrestricted Unrestricted
funds
funds
2023
2022
From quoted investments
From unquoted investments
490,493
15,566
432,037
114
506,059
432,151
Charitable activities
Grantssupport costs
Total
Total
2023
2023
2023
2022
Grant funding of activities (see note 71
Share of support costs (see note 91
381,045
381,045
133.882
67,470
135,258
133,882
381,045
133,882
514,927 202,728
13-

A S CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2023
Grants payable
2023
2022
Alzheimers Society
Bibles for Children
CHIPS
Circles South East
Clean Sheet
Clinical Theology
CMS
CMS- Kapikapihan
Concordis Intemalional Trust
CURTC
Embrace Middle East
Eternity Downham Market
Gra￿ Organisalion
Henley & District Agricultural Association
Henley Gospel Trust
Holy Trinity Slow Bardolph
HOPE Coventry
Lambelh Trust
Langley House Trust
Nomad
Oriel Ministries
Other grants (less than £1.0001
Resurgo Trust
Riverside Counselling
Royal Berkshire Charity
T&RA l Dick Bridgeman Foundation
T&RA Ltd
The Breakout Trust
The Lambeth Trust ILambeth Partnership)
The Myton Hospices
The Resurgo Trust
Tree Aid
Urban Expression
Wneel Power
Worldshare
2,500
5,000
28,875
27,500
50,000
100
3,500
20,250
3,500
10,000
2,500
5,000
2,500
39,820
750
20,000
2,500
2,500
29,820
10,000
100,000
1,000
6,000
400
7,000
1,500
2,500
750
250
5,000
10,000
25,000
5,000
7,000
1,500
5,000
5,000
10,000
381,045
78,470
Coventry Cathedral
{11,0001
381.045
67,470
14-

A S CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2023
Trustees
None of the Iruslees lor any persons connected with them) ￿ceiVed any ￿muneration or benefits from the
charity during the year.
During the year the Iruslee Mr G Calvocores5i was reimbursed £nil12022 - £5021 for expenses relating lo the
charity's opeialions.
Support costs
Support Governance
costs
¢osts
2023
2022
Depreciation
Office expenses
Telephone
Management charges
Auditors, fees
Accountants fees
Consultancy
Archive storage
Rent
164
1,174
835
84,123
164
1,174
835
84,123
5,000
10,900
12,549
1.051
18,086
149
167
15001
87,148
4,800
7,020
12,584
6.091
17,799
5,000
10,900
12,549
1,051
18,086
117,982
15,900
133,882
135,258
The above support costs are in relation to the ¢harities one income activity which is the investments in stocks
and shares as well as costs of grant dislribulion.
10 Employees
The average monthly number of employees during the year was".
2023
Number
2022
Number
Total
There were no employees whose annual remuneration was more than £60,000.
15-

A S CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2023
11 Net galnslllossesl on Investments
Unrestricted Unrestricted
funds
funds
2023
2022
Revaluation of investments
Gainlllossl on sale of Investments
{1,430,8541
1618,3121
852,761
801,165
{2,049,1661 1,653,926
12 Taxation
The charity is exempt from lax on income and gains falling wrfchin section 505 of the Taxes Act 1988 or section
252 of the Taxalionof Chargeable GainsAcl 1992 to the extent that these are applied to its charitsble objects.
13 Tangible fixed assets
Office equipment
Cost
Al 6 April 2022
2,752
Al 5 April 2023
2,752
Depreciation and impairment
Al 6 April 2022
Depreaalion charged in the year
2,094
164
Al 5 April 2023
2,258
Carrying amount
At 5 April 2023
494
Al 5 April 2022
658
16-

A S CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2023
14 Flxe(l asset Investments
Listed
Unlisted
Other
investments investments investments
Cash In
portfolio
Totsl
Cost or valuatlon
At 6 April 2022
Additions
Net Ilossllgain realised on cost
Increase in unrealised gains
Disposals
19,542,155
6,516,845
1618,3111
11,419,952)
14,320,338)
3,291
488,757
163,188
3,763,108
20,197,391
10,279,753
1618,3111
{1,4￿,748)
13,186,866) 17,510,495)
116,7961
13,2911
Al 5 April 2023
19,700,199
471,961
739,430
20,911,590
Carrying amount
Al 05 April 2023
19,700,199
471,961
739,430
20,911,590
Al 05 April 2022
19,542,155
3,291
488,757
163,188
20,197,391
15 Debtors
2023
2022
Amounts falling due within one year-
Other debtors
Prepayments and accrued income
41,445
5,040
72,488
46,485
72,488
16 Credltors: amounts falllng due wlthln one year
2023
2022
Grant accruals
Accruals and deferred income
52,339
25,650
32,760
20,400
77,989
53,160
17 Credltors: amounts falllng due after more than one year
2023
2022
Grant accruals
10.000
1,600
17-

A S CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2023
18 Related party transactlons
During the year the charity paid a facilities charge of £15,072 + VAT12022 - £15,625 + VATI lo Kambos
Consulting Limited for office space - a company in which one of the trustees is also a director of. No balances
were oulslanding at year end12022 £Nill.
On 05 April 2023, the trade and assets of The Guy Fawkes Charitable Trust, of which two Iruslees ¥e also
trustees of the charity. were donated to A S Charitable Trust. with a total value of £3,001.998, wmprising of
investments, cash, debtors and creditors. See note 4 for a detailed breakdown of the donation.
18-