**Gordon Fraser Charitable Trust (Registered Charity Number: 260869) (Registered in England & Wales)** **Dated 11 March 1966** ## **Accounts** **for the year ended 31 January 2023** ## **Gordon Fraser Charitable Trust Dated 11 March 1966** ## **Trustees’ Annual Report for the year ended 31 January 2023** The trustees present their annual report and financial statements of the charity for the year ended 31 January 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019. ## **Objectives and Grant Making Policies:** The trust is an unincorporated trust, constituted under a trust deed dated 11 March 1966 to make grants out of its income and/or capital at the trustees’ absolute discretion who shall pay, apply or appropriate the whole or any part thereon at any time and in any manner for such purposes or objectives which are recognised by law as good charitable purposes, organisations or objects. The trustees however limit distributions to organisations registered with the Office of the Scottish Charity Regulator and organisations registered with the Charity Commission in the rest of the UK. The trustees generally favour charities operating in Scotland but not to the exclusion of charities operating solely in England and/or Wales and/or Northern Ireland. They favour organisations involved with the performing arts, particularly if children and young people are involved and also if the disabled are involved. They also favour organisations set up to further the visual arts and museums. They support small medical charities and environmental charities including support of the built environment. The trust’s grant-making policy was unchanged during the year. - All applications are sent to an assessor, who is responsible for the day to day management of the trust and with whom the trustees consult with as regularly as required and, in particular, at the time of the quarterly distributions. The trustees rarely make donations to the same charity more than once in the same year and a donation rarely exceeds £20,000 or is less than £100 although there are no minimum or maximum amounts for donations. The trustees agree the broad strategy in relation to the future grant making policies, investment, reserve and risk management. The progress of the trust accorded with expectations and the position at the year end is regarded as satisfactory. The trustees will continue with their grant making policy to meet the trust’s objective. **Achievements and performance:** - During the year ended 31 January 2023 the trustees met the trust’s objectives by making grants totalling £165,000 as shown on pages 13, 14 and 15. The trustees plan for the future is to continue their grant making policy thus assisting the charities in fulfilling their objectives. - **Financial review:** Total income was £84,710 (2022: £88,595) with expenditure amounting to £221,645.89 (2022: £215,088). Net assets at the end of the year were £4,210,555 (2022 £4,487,311). The value of the investments decreased by £248,968. - **Investment Policy:** The trustees have wide powers of investment and are subject to no specific restrictions in the governing document. The investment objective is to generate the optimum amount of income for distribution whilst at the same time investing for capital growth. The investment managers have discretion in respect of choices of stocks and timing of purchases and sales. Page 1 ## **Gordon Fraser Charitable Trust Dated 11 March 1966** ## **Trustees’ Annual Report for the year ended 31 January 2023** _**(continued)**_ **Investment Policy** They collect income, claim tax repayments and report quarterly. The **(continued):** trustees consider the quarterly reports and comment if necessary. During the year to 31 January 2023, the trustees had a meeting with the investment managers to discuss the state of the market and trust investments and were satisfied with their performance. Their practice is to have a meeting at least annually with the fund manager. **Public Benefit:** The objects of the trust (see above) are clearly of public benefit both directly and indirectly and due regard has been paid to the public benefit guidance published by the Charity Commission. **Reserves:** The policy of the trustees is to distribute all the income as it arises and not to accumulate reserves. They use their discretion to distribute relatively small sums from capital on a regular basis. **Risk Management:** The trustees have assessed the major risks to which the charity is exposed and are satisfied they are not exposed to any significant risks, other than the fluctuation in the value of their investment portfolio and a fall in investment income. They have delegated the management of the portfolio to professionals and regularly review their performance. **Plans for the Future:** The trustees plan for the future is to continue their grant making policy thus assisting the charities in fulfilling their objectives. The trustees aim to utilise the unrestricted and endowment funds to achieve this objective. ## **Structure, Governance and Management** **Settlor:** Gordon Fraser **Name of the Charity** : Gordon Fraser Charitable Trust The principal governing document is a Settlement dated 11 March 1966. The Trust is a private charitable trust controlled by its trustees. The power of appointing new trustees is vested in the current trustees following the death of the settlor. Trustees are recruited by invitation from people that have become known to the Trust through its activities and have shown that they possess the interest and skills required to make a contribution to the fulfilment of the Trust’s objectives. The trustees are encouraged to receive the appropriate training dependant on their qualifications and experience. **Charity Registration Number:** 260869 (Registered in England & Wales) ## **Reference and administrative information** **Trustees:** Margaret Alice Moss Sarah Frances Moss Susannah Clare Rae Alexander Robert Fraser Moss Alison Frances Elizabeth Priestley Page 2 **Gordon Fraser Charitable Trust Dated 11 March 1966** ## **Trustees’ Annual Report for the year ended 31 January 2023** _**(continued)**_ ## **Reference and administrative information** _**(continued)**_ **Principal Office:** Gaidrew Farmhouse Drymen Glasgow G63 0DN **Accountants:** Mercer & Hole Trustees Limited 72 London Road St Albans, Herts AL1 1NS **Independent Examiner:** Steve Robinson FCA Mercer & Hole LLP, Chartered Accountants & Registered Auditors 72 London Road, St Albans, Herts AL1 1NS **Bankers & Investment Managers:** Brooks Macdonald Hobart House 80 Hanover Square Edinburgh EH2 1EL ## **Statement of Trustees’ responsibility** The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP 2019; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. Page 3 **Gordon Fraser Charitable Trust Dated 11 March 1966** ## **Trustees’ Annual Report for the year ended 31 January 2023** _**(continued)**_ ## **Statement of Trustees’ responsibility** _**(continued)**_ The trustees are responsible for keeping accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts 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. **…………………………………………** Signed on behalf of the trustees Date: ................................................... Page 4 ## **Independent Examiner’s Report to the Trustees of Gordon Fraser Charitable Trust** I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 January 2023 which are set out on pages 1 to 15. ## **Responsibilities and basis of report** As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner’s statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed: Steve Robinson FCA Mercer & Hole LLP 72 London Road St Albans Herts AL1 1NS Date: Page 5 ## **Gordon Fraser Charitable Trust Dated 11 March 1966** ## **Statement of Financial Activities** ## **for the year ended 31 January 2023** |**Notes**
**Income and endowments from**
Investment income
**3**
Tax recoverable on investment income
**8**
Tax repayment supplement
**Total income and endowments**
**Expenditure on**
Costs of raising funds
Investment management costs
**4**
Charitable activities
**5**
**Total expenditure**
**Net gains/(losses) on investments**
**7**
**Net Income/(expenditure)**
**Transferred from endowment for**
**distribution**
**6**
**Net Movement in Funds**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**Expendable**
**Endowment**
**Funds**
**£**
**-**
**-**
**-**
**-**
**22,435.85**
**-**
**22,435.85**
**( 139,820.25)**
**( 162,256.10)**
**( 114,499.77)**
**( 276,755.87)**
**4,487,310.67**
**4,210,554.80**|**Unrestricted**
**Income**
**Funds**
**£**
**83,573.08**
**1,136.77**
**0.42**
**84,710.27**
**-**
**199,210.04**
**199,210.04**
**-**
**( 114,499.77)**
**114,499.77**
**-**
**-**
**-**|**2023**
2022
**Total**
Total
**£**
£
**83,573.08**
87,772
**1,136.77**
823
**0.42**
-
**84,710.27**
88,595
**22,435.85**
24,616
**199,210.04**
190,472
**221,645.89**
215,088
**( 139,820.25)**
180,601
**( 276,755.87)**
54,108
**-**
-
**( 276,755.87)**
54,108
**4,487,310.67**
4,433,203
**4,210,554.80**
4,487,311| |---|---|---|---| Page 6 **Gordon Fraser Charitable Trust Dated 11 March 1966** ## **Balance sheet** |**31 January 2023**
**Notes**
**Fixed assets**
Listed investments at market value
**7**
**Total fixed assets**
**Current assets**
Income tax recoverable
**8**
Balance with Bank
Balance with investment managers
**Current liabilities**
Amount falling due within one year
**9**
**Net current assets**
**Total net assets**
**The funds of the charity**
**Expendable endowment funds**
**Unrestricted income funds**|**2023**
2022
**£**
**£**
£
£
**4,147,855.00**
4,396,823
**4,147,855.00**
4,396,823
**1,136.77**
823
**41,972.81**
53,050
**24,255.22**
41,115
**67,364.80**
94,988
**4,665.00**
4,500
**4,665.00**
4,500
**62,699.80**
90,488
**4,210,554.80**
4,487,311
**4,210,554.80**
4,487,311
**-**
-
**4,210,554.80**
4,487,311| |---|---| Approved by the trustees on ............................... and signed on their behalf by ............................................... (Trustee). Page 7 **Gordon Fraser Charitable Trust Dated 11 March 1966** ## **Notes to the Accounts** **for the year ended 31 January 2023** ## **1. Accounting policies** ## _a)_ _**Basis of preparation**_ The Charity constitutes a public benefit entity as defined by FRS102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102), the Charities Act 2011, and UK Generally Accepted Accounting Practice. The financial statements have been prepared to give a ‘true and fair’ view and have therefore necessarily departed from the extant 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: Accounting and Reporting by Charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 rather than the Statement of Recommended Practice: Accounting and Reporting by Charities effective from 1 April 2005, which has since been withdrawn. The trustees consider that there are no material uncertainties about the Trust's ability to continue as a going concern. There are no material uncertainties affecting the current year’s accounts. They have also considered the effects of market volatility in recent years and are happy that the invesments remain appropriate. If the income becomes depleted in the coming year, the trustees will consider reducing their grants accordingly. ## _b)_ _**Funds Structure**_ The endowment funds represent the original capital gift to the charity, plus subsequent additions to the endowment, less amounts which have been transferred to the unrestricted funds for distribution. The trustees are entitled to use the endowment in furtherance of the general objectives of the charity at their discretion, and they transfer funds from the endowment to the unrestricted funds as required. Unrestricted funds represent the income arising from the endowment, and the trustees aim to expend the income for charitable purposes within a reasonable period of receipt. ## _c)_ _**Income recognition**_ All income is recognised once the charity has entitlement to the resources, it is certain that the resources will be received and the monetary value of income can be measured with sufficient reliability. Dividend income and interest from investment managers are received gross and shown gross. Page 8 **Gordon Fraser Charitable Trust Dated 11 March 1966** ## **Notes to the Accounts** ## **for the year ended 31 January 2023** ## _d)_ _**Expenditure recognition**_ Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis. The trustees do not employ fundraisers and therefore the only cost of generating funds are the fees payable to the fund managers for the management and holding of the investments which produce the bulk of the charity's income. The administration costs are split into two categories (see note 5). The assessor's expenses relate to payments made for assistance the trustees received in sorting out appeal letters prior to their meetings. During the year, the grants were paid in April, September, November and January to third parties in the furtherance of the charitable objectives of the Trust and included on a payment basis. No remuneration has been paid to the trustees and they have not incurred any expenses during the year. No staff are employed by the charity but the trustees pay fees to an assessor which, together with expenses, are included in the governance costs shown in note 5. ## _e)_ _**Charitable activities**_ Costs of charitable activities include grants made, governance costs and administration costs in the pursuit of the charitable objects of the Trust. ## _f)_ _**Cash at bank**_ Cash at bank is held to meet the day to day running costs of the charity as they fall due. ## g) _**Debtors**_ Trade and other debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid after taking account of any discounts offered. ## _h)_ _**Creditors**_ Creditors are amounts owed by the charity. They are measured at the amount that the charity expects to have to pay to settle the debt. ## _i)_ _**Fixed asset investments**_ Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors. Page 9 **Gordon Fraser Charitable Trust Dated 11 March 1966** ## **Notes to the Accounts** ## **for the year ended 31 January 2023** ## _j)_ _**Realised gains and losses**_ Realised gains represent the profit by comparing the net proceeds of sale of investment with the market value of that investment as at 31 January 2022 or subsequent cost. Unrealised gains represent the difference in market value at 31 January 2023 as compared with the market value at 31 January 2022 or subsequent cost. ## **2. Related party transactions and trustees’ expenses and remuneration** The charity’s trustees give their time freely and receive no remuneration for the work that they undertake as trustees. However, they can claim expenses to reimburse them for costs that they incur in fulfilling their duties. During the year the trustees' remuneration and re-imbursed costs were £nil (2022: £nil). There were no related party transactions in the year (2022 : £nil) ## **3. Investment income** |**3. Investment income**
Dividends
Deposit interest

**4. Cost of raising funds**
**Investment management costs**
Investment management charges|**2023**
**£**
**83,550.85**
**22.23**
**83,573.08**

**2023**
**£**
**22,435.85**|2022
£
87,768
4| |---|---|---| |||87,772| |||2022
£
24,616| The investment management costs are all attributable to the endowment funds. ## **5. Charitable activities** |**Charitable activities**
Charitable activities
**The breakdown of charitable activities is as follow:**
**Grants - see pages 13, 14 and 15**|**2023**
2022
**£**
£
**199,210.04**
190,472
**2023**
2022
**£**
£
**165,000.00**
160,000| |---|---| The charity undertakes its charitable activities through grant making and awarded grants to 99 institutions of various categories in furtherance of its charitable activities. ## **Analysis of charitable expenditure :** |**Governance costs**
**Unrestricted income funds**
Accountant's charges
Independent examination fees
Assessor's fees and expenses
Bank charges|**2023**
**£**
**10,950.00**
**2,100.00**
**20,698.92**
**13.00**
**33,761.92**|2022
£
8,700
1,800
19,622
11| |---|---|---| |||**30,133**| Page 10 **Gordon Fraser Charitable Trust Dated 11 March 1966** ## **Notes to the Accounts** **for the year ended 31 January 2023** |**5. Charitable activities continued**
**Administration costs**
Website charges
Stationery costs
**Total Charitable activities**|**2023**
**£**
**391.80**
**56.32**
**448.12**
**199,210.04**|2022
£
**339**
-| |---|---|---| |||339| |||**190,472**| ## **6. Transfers between funds** The trustees have transferred £114,499.77 (2022 : £101,877) from the expendable endowment to cover the deficit, which they have agreed in accordance with the Charity's policy. |**7. Fixed asset investments**
Market value at 31 January 2022
Additions
Disposals
Net realised and unrealised investment gains/(losses)
Market value at 31 January 2023
Historical cost at 31 January 2023
**8. Income tax recoverable**
Balance at 1 February 2022
Received during the year
Tax recoverable on investment income
**9. Liabilities: Amount falling due within one year**
Accountancy fees
Secretarial fees
**10. Control**|**2023**
**£**
**4,396,823.00**
**565,466.42**
**( 674,614.17)**
**( 139,820.25)**
**4,147,855.00**
**3,610,972**
**2023**
**£**
**823.18**
**( 823.18)**
**-**
**1,136.77**
**1,136.77**
**2023**
**£**
**4,650.00**
**15.00**
**4,665.00**|2022
£
4,252,164
1,282,939
( 1,318,881)
180,601| |---|---|---| |||4,396,823| |||3,609,694| |||2022
£
508
( 508)| |||-
823| |||823| |||2022
£
4,500
**-**| |||**4,500**| |||| The trust is controlled by the trustees. |**11. Analysis of net assets between funds**
**Expendable Endowment Funds**
**Unrestricted Funds**|**Fixed**
**Assets**
**4,147,855.00**
**62,499.80**
**4,210,354.80**|**2023**
**Net Current**
**Assets**
**£**
**-**
**-**
**-**|2022
**Total**
Total
**£**
£
**4,147,855.00**
4,396,823
**62,499.80**
90,488
**4,210,354.80**
4,487,311| |---|---|---|---| Page 11 **Gordon Fraser Charitable Trust Dated 11 March 1966** ## **Notes to the Accounts** **for the year ended 31 January 2023** ## **12. Comparative fund split** |**Notes**
**Income and endowments from**
Investment income
**3**
Tax recoverable on investment income
**8**
Tax repayment supplement
**Total income and endowments**
**Expenditure on**
Costs of raising funds
Investment management costs
**4**
Charitable activities
**5**
**Total expenditure**
**Net gains/(losses) on investments**
**7**
**Net Income/(expenditure)**
**Transferred from endowment for**
**distribution**
**Net Movement in Funds**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**Expendable**
**Unrestricted**
**Endowment**
**Income**
**Funds**
**Funds**
**2022**
**2022**
**£**
**£**
**-**
**87,772**
**-**
**824**
**-**
**-**
**-**
**88,596**
**24,618**
**-**
**-**
**190,472**
**24,618**
**190,472**
**180,602**
**-**
**155,984**
**( 101,876)**
**( 101,876)**
**101,876**
**54,108**
**-**
**4,433,203**
**-**
**4,487,311**
**-**|**Total**
**Funds**
**2022**
**£**
**87,772**
**824**
**-**| |---|---|---| |||**88,596**| |||**24,618**
**190,472**| |||**215,090**| |||**180,602**| |||**54,108**
**-**| |||**54,108**
**4,433,203**| |||**4,487,311**| Page 12 **Gordon Fraser Charitable Trust Dated 11 March 1966** ## **Charitable Donations** ## **for the year ended 31 January 2023** |AFK
Age Scotland
Alloa Musical Players
Art in Healthcare
Artlink Central Limited
Athletics Trust Scotland
Ayrshire Cancer Support
Beatson Cancer Charity
Befriend a Child
Benedetti Foundation
Bethany Christian Trust
Birth Baby & Beyond
British Deaf Association
Butterfly Conservation Scotland
Callander Youth Project
Calum's Cabin
Camp & Trek
Care for Carers
Castletown Heritage Society
Change Mental Health
Chattersense
Cheviot Youth
Children's Classic Concerts
Clowns in the Sky
Comar
Curiosity Collective
DEC Pakistan Floods Appeal
Ecological Continuity Trust
Eden Young Carers Project
Edinburgh International Book Festival
Enable Scotland
Epic
Fife Cultural Trust
Fife Employment Access Trust
Firsthand Lothian
Friends of the Cromford Canal
Getting Better Together
Glasgow Life
Grampian Society for the Blind
Greenock Medical Aid Society
Haemachromatosis UK
Handicapped Children's Action Group
Hebridean Pursuits Outdoor Learning
Home-Start Aberdeen
Include Me 2 Club
InterAct Stroke Support
Jock Tamson's Gairden|**£**
1,500.00
1,500.00
1,000.00
1,000.00
7,000.00
2,000.00
1,000.00
1,000.00
1,000.00
1,000.00
3,000.00
1,150.00
1,500.00
1,500.00
1,000.00
1,000.00
1,500.00
1,350.00
2,500.00
1,500.00
1,650.00
1,350.00
1,000.00
1,000.00
1,500.00
1,500.00
5,000.00
1,500.00
1,500.00
1,000.00
1,500.00
1,800.00
3,350.00
1,500.00
1,500.00
1,000.00
1,500.00
2,500.00
1,000.00
1,500.00
1,000.00
1,000.00
1,500.00
1,500.00
1,500.00
1,500.00
1,000.00| |---|---| ||77,150.00| Page 13 **Gordon Fraser Charitable Trust Dated 11 March 1966** ## **Charitable Donations** **for the year ended 31 January 2023** |**ble Donations**
**ar ended 31 January 2023**|| |---|---| |**Brought forward**
Kidney Kids Scotland
Kilmartin Museum & Co
Koestler Arts
Leighton Library Trust
Lennoc Children's Cancer Fund
Linda Tremble Foundation
London Wheelchair Rugby Club
Lyra
Mid Deeside Community Trust
Move On
Muscular Dystrophy Group of GB & NI
Music as Therapy
musicALL
Nurture Steps Ltd
Paisley Museum and Art Gallery
Perth Autism Support
Perth Festival of Arts
Place 2 Be
React
Reeltime Music
Re-engage
Reidvale Adventure Association Ltd
Rosemount Development Trust
Royal Scottish National Orchestra
SANE
Scottish Autism
Scottish Chamber Orchestra
Scottish Families Affected by Alcohol and Drugs
Scottish Jewish Archives Centre
Scottish Opera
Seamab Learning and Care Services
Shift MS
Sistema Scotland
Sound Waves
St Andrews Hospice
St Vincent's Hospice
The Childrens Wood
The Edinburgh International Festival Society
The Lilias Graham Trust
The National Youth Choir of Scotland
The Outward Bound Trust
The Prisoners of Conscience Appeal Fund|**£**
77,150.00
1,000.00
1,000.00
2,000.00
2,500.00
1,500.00
1,000.00
1,000.00
1,000.00
1,000.00
1,500.00
1,000.00
3,000.00
1,000.00
1,500.00
1,000.00
1,500.00
1,000.00
1,500.00
1,100.00
1,000.00
1,500.00
1,000.00
1,650.00
4,500.00
1,000.00
1,500.00
2,000.00
1,500.00
2,000.00
4,000.00
1,000.00
1,000.00
4,000.00
1,500.00
500.00
1,500.00
1,500.00
3,500.00
1,500.00
4,000.00
1,850.00
2,500.00| ||149,250.00| Page 14 ## **Gordon Fraser Charitable Trust Dated 11 March 1966** ## **Charitable Donations** **for the year ended 31 January 2023** |**ble Donations**
**ar ended 31 January 2023**|| |---|---| |**Brought forward**
The Samaritans
The Scottish Seabird Centre
The Social Bite Fund
Timespan
Toonspeak Young People's Theatre
Venture Trust
Waverly Care
Wonder Fools
YMCA Bellshill & Mossend
Young Lives vs Cancer|**£**
149,250.00
2,000.00
1,500.00
1,500.00
1,500.00
1,500.00
1,000.00
2,500.00
1,500.00
2,000.00
750.00| ||165,000.00| |Summary of grants made in the year
1. Health (28)
2. Education (8)
3. Youth Work (15)
4. Religion (1)
5. Relief of Poverty (6)
6. Animal Welfare (3)
7. Arts/theatre (22)
8. Other (16)|**£**
37,650.00
9,850.00
19,700.00
2,000.00
10,600.00
4,500.00
51,850.00
28,850.00| |---|---| ||165,000.00| Page 15 ## **Gordon Fraser Charitable Trust** ## **Schedule of Investments and Income** ## **Year ended 31st January 2023** |Ashtead Group plc
10p ordinary shares
01/03/2022 Purchase
09/09/2022 Dividend - paid gross
Allianz Global Investors UK
Strategic Bond I Dis
03/05/2022 Interest - paid gross
31/10/2022 Interest - paid gross
Allianz PIMCO
Gilt Yield C Inc Nav
30/04/2022 Equalisation payment
03/05/2022 Interest - paid gross
31/10/2022 Interest - paid gross|**Holding**|**Book Value**
**£**|**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**|**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**|**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**|**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**|**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**| |---|---|---|---|---|---|---|---| ||474
**474**
112,576.53000
**112,576.53000**
46,744.2921
**46,744.2921**|22,993.34
**22,993.34**
127,535.73
**127,535.73**
82,689.21
(57.52)
**82,631.69**|22,993.34
**22,993.34**
**0.00**
(57.52)
**(57.52)**|**0.00**
**0.00**
**0.00**||271.50
**271.50**
739.06
3,393.16|271.50| ||||||||**271.50**| ||||||||| |||||||**4,132.22**|| ||||||||222.41
535.82| ||||||||**758.23**| Page 16 ## **Gordon Fraser Charitable Trust** ## **Schedule of Investments and Income** ## **Year ended 31st January 2023** |Artemis Fund Managers
US Select Fund Instl GBP Inc
31/08/2022 Sale
Assura Plc
Ordinary GBP0.10
13/04/2022 Ord Stock Div - Cash
13/07/2022 Ord Stock Div - Cash
12/10/2022 Ord Stock Div - Cash
11/01/2023 Ord Stock Div - Cash
AstraZeneca plc
US$0.25 ordinary shares
28/03/2022 Dividend - paid gross
12/09/2022 Dividend - paid gross
Auto Trader Group Plc
Ordinary GBP1.50
23/09/2022 Dividend - paid gross
27/01/2023 Dividend - paid gross|**Holding**
**Book Value**
**£**|**Holding**
**Book Value**
**£**|**Cost**
**(Proceeds)**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**| |---|---|---|---|---|---|---|---|---| ||40,615.00000
(40,615.00000)
**0.00000**
115,255
**115,255**
470
**470**
4,913
**4,913**|88,699.99
(88,699.99)
**0.00**
63,385.71
**63,385.71**
42,225.16
**42,225.16**
23,057.05
**23,057.05**|(109,969.79)
**(109,969.79)**
**0.00**
**0.00**
**0.00**|21,269.80
**21,269.80**
**0.00**
**0.00**
**0.00**|**0**
**64,255**
**49,773**
**30,805**|**0.00**
682.31
719.19
719.19
898.98||| |||||||||**0.00**| |||||||||| |||||||**3,019.67**||| |||||||682.91
359.08||| |||||||**1,041.99**||| ||||||||270.21
137.56|| ||||||||**407.77**|| Page 17 ## **Gordon Fraser Charitable Trust** ## **Schedule of Investments and Income** ## **Year ended 31st January 2023** |Baillie Gifford & Co
Japanese Fd "B" income shares
04/07/2022 Dividend - paid gross
BP plc
US$0.25 ordinary shares
25/03/2022 Dividend - paid gross
24/06/2022 Dividend - paid gross
23/09/2022 Dividend - paid gross
16/12/2022 Dividend - paid gross
Baillie Gifford
Corporate Bond B Nav Inc
25/02/2022 Interest - paid gross
30/03/2022 Interest - paid gross
04/05/2022 Interest - paid gross
30/05/2022 Interest - paid gross
29/06/2022 Interest - paid gross
28/07/2022 Interest - paid gross
30/08/2022 Interest - paid gross
29/09/2022 Interest - paid gross
28/10/2022 Interest - paid gross
29/11/2022 Interest - paid gross
29/12/2022 Interest - paid gross
30/01/2023 Interest - paid gross|||**Holding**
**Book Value**
**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**
**£**|**Holding**
**Book Value**
**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**
**£**|**Holding**
**Book Value**
**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**
**£**|**Holding**
**Book Value**
**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**
**£**|**Holding**
**Book Value**
**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**
**£**|**Holding**
**Book Value**
**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**
**£**| |---|---|---|---|---|---|---|---|---| |||6,358.31
**6,358.31**
10,000
**10,000**
70,090.00000
**70,090.00000**||69,402.45
**69,402.45**
48,500.51
**48,500.51**
64,112.16
**64,112.16**|**0.00**
**0.00**
**0.00**|**0.00**
**0.00**
**0.00**|**100,334**
**48,885**
**52,750**|1,439.52| |||||||||**1,439.52**| |||||||||415.95
435.56
516.84
494.02| |||||||||**1,862.37**| |||||||||140.18
140.18
140.18
140.18
140.18
140.18
140.18
140.18
518.66
140.18
140.18
147.18| |||||||||**2,067.64**| Page 18 ## **Gordon Fraser Charitable Trust** ## **Schedule of Investments and Income** ## **Year ended 31st January 2023** |Balfour Beatty plc
50p ordinary shares
06/07/2022 Dividend - paid gross
05/12/2022 Dividend - paid gross
Barclays Bank Plc
Idx/lkd Snr Nts 04/01/2028 GBP1
Blackrock Fund Managers Ltd
European Dynamic Fd Inc
Blackrock Fund Managers Ltd
Bfm Emerging Markets S GBP Acc
29/04/2022 Cost write up - acc unit
29/04/2022 Dividend - accumulation unit||||**Holding**|**Book Value**
**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**
**£**|**Book Value**
**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**
**£**|**Book Value**
**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**
**£**|**Book Value**
**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**
**£**|**Book Value**
**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**
**£**|**Book Value**
**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**
**£**| |---|---|---|---|---|---|---|---|---|---|---| ||11,957
**11,957**
46,300.00
**46,300.00**
30,712.99200
**30,712.99200**
103,993.40000
**103,993.40000**||||29,195.19
**29,195.19**
46,341.00
**46,341.00**
25,469.28
**25,469.28**
109,671.79
1,245.36
**110,917.15**|**0.00**
**0.00**
**0.00**
1,245.36
**1,245.36**|**0.00**
**0.00**
**0.00**
**0.00**||717.42
418.49|| ||||||||||**1,135.91**|| ||||||||||**0.00**
**0.00**
1,245.36|| |||||||||||**0.00**| |||||||||||| |||||||||||**0.00**| ||||||||||**1,245.36**|| Page 19 ## **Gordon Fraser Charitable Trust** ## **Schedule of Investments and Income** ## **Year ended 31st January 2023** |Brown Advisory Funds
Global Leaders B GBP Dis
14/11/2022 Dividend - paid gross
Cranswick plc
10p ordinary shares
02/09/2022 Ord Stock Div - Cash
27/01/2023 Ord Stock Div - Cash
CRH plc
EUR 0.32 ordinary shares
07/02/2022 Sale
01/06/2022 Dividend - paid gross
07/10/2022 Dividend - paid gross
Cairn Homes Plc
Ordinary EUR0.001
19/05/2022 Dividend - paid gross
07/10/2022 Dividend - paid gross||**Holding**
**Book Value**
**£**|**Holding**
**Book Value**
**£**|**Cost**
**(Proceeds)**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**| |---|---|---|---|---|---|---|---|---| |||5,851.00000
**5,851.00000**
1,355
**1,355**
1,851
(900)
**951**
23,515
**23,515**|89,501.79
**89,501.79**
44,025.83
**44,025.83**
53,563.96
(26,044.06)
**27,519.90**
26,679.47
**26,679.47**|**0.00**
**0.00**
(33,635.37)
**(33,635.37)**
**0.00**|**0.00**
**0.00**
7,591.31
**7,591.31**
**0.00**|**94,377**
**43,116**
**35,700**
**20,232**||109.99| |||||||||**109.99**| |||||||||753.38
279.13| ||||||||**1,032.51**|| |||||||||551.95
154.23| |||||||||**706.18**| |||||||||417.26
464.73| |||||||||**881.99**| Page 20 ## **Gordon Fraser Charitable Trust** ## **Schedule of Investments and Income** ## **Year ended 31st January 2023** |Compass Group Plc
Ordinary GBP0.1105
07/02/2022 Sale
28/02/2022 Dividend - paid gross
28/07/2022 Dividend - paid gross
Computacenter
Ordinary GBP0.075555
08/07/2022 Dividend - paid gross
28/10/2022 Dividend - paid gross
Countryside Partnerships Plc
Ordinary GBP0.01
02/02/2022 Sale
Dcc
Ordinary EUR0.25
21/07/2022 Dividend - paid gross
09/12/2022 Dividend - paid gross|**Holding**
**Book Value**
**£**|**Holding**
**Book Value**
**£**|**Holding**
**Book Value**
**£**|**Cost**
**(Proceeds)**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**| |---|---|---|---|---|---|---|---|---|---| |||2,668
(1,108)
**1,560**
1,280
**1,280**
9,233
(9,233)
**0**
426
**426**|9,084.11
(3,772.56)
**5,311.55**
35,522.23
**35,522.23**
26,933.42
(26,933.42)
**0.00**
25,621.50
**25,621.50**|(19,067.31)
**(19,067.31)**
**0.00**
(27,897.43)
**(27,897.43)**
**0.00**|15,294.75
**15,294.75**
**0.00**
964.01
**964.01**
**0.00**||**30,124**
**28,390**
**0**
**19,152**|373.52
146.64|| |||||||||**520.16**|| |||||||||632.32
282.88|| |||||||||**915.20**|| |||||||||**0.00**
383.18
191.83|| ||||||||||**0.00**| ||||||||||| |||||||||**575.01**|| Page 21 ## **Gordon Fraser Charitable Trust** ## **Schedule of Investments and Income** ## **Year ended 31st January 2023** |**Holding**
**Book Value**
**£**
Etfs Metal Securities Ltd
Etfs Physical Gold (Gbp)
200
16,496.41
**200**
**16,496.41**
Experian Plc
Ordinary USD0.10
1,432
34,696.36
07/02/2022 Dividend - paid gross
22/07/2022 Dividend - paid gross
**1,432**
**34,696.36**
Ferguson Plc
Ordinary GBP0.10
448
11,421.49
07/02/2022 Sale
(169)
(4,308.55)
09/05/2022 Dividend - paid gross
08/12/2022 Dividend - paid gross
**279**
**7,112.94**
Findlay Park Funds Icav
American GBP Unhgd Dis
Changed from Findlay Park Funds Plc American Sterling GBP Uhdg on 18/07/2022
1,435.00000
54,665.28
16/11/2022 Sale
(449.02200)
(17,105.17)
**985.97800**
**37,560.11**|**Holding**
**Book Value**
**£**|**Holding**
**Book Value**
**£**|**Cost**
**(Proceeds)**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**| |---|---|---|---|---|---|---|---| |||16,496.41
**16,496.41**
34,696.36
**34,696.36**
11,421.49
(4,308.55)
**7,112.94**
54,665.28
(17,105.17)
**37,560.11**|**0.00**
**0.00**
(18,972.99)
**(18,972.99)**
(60,380.40)
**(60,380.40)**|**0.00**
**0.00**
14,664.44
**14,664.44**
43,275.23
**43,275.23**||**0.00**
167.44
426.03|| ||||||||**0.00**| |||||||**593.47**|| |||||||179.84
446.40|| |||||||**626.24**|| ||||||||| ||||||||**0.00**| Page 22 ## **Gordon Fraser Charitable Trust** ## **Schedule of Investments and Income** ## **Year ended 31st January 2023** |Future Plc
Ordinary GBP0.15
09/02/2022 Dividend - paid gross
GSK Plc
Ord 0.3125
19/07/2022 Conversion in
06/10/2022 Dividend - paid gross
12/01/2023 Dividend - paid gross
Gemcap Investment Funds Ireland Plc
Ahfm Defined Returns B GBP Acc
Greencoat UK Wind Plc
Ordinary GBP0.01
25/02/2022 Dividend - paid gross
27/05/2022 Dividend - paid gross
26/08/2022 Dividend - paid gross
25/11/2022 Dividend - paid gross||**Holding**|**Book Value**
**£**|**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**|**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**|**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**|**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**|**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**|**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**|**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**| |---|---|---|---|---|---|---|---|---|---|---| |||1,397
**1,397**
2,217
**2,217**
141,903.0000
**141,903.0000**
35,000
**35,000**|33,551.10
**33,551.10**
16,957.12
**16,957.12**
228,166.07
**228,166.07**
47,711.00
**47,711.00**|**0.00**
16,957.12
**16,957.12**
**0.00**
**0.00**|**0.00**
**0.00**
**0.00**
**0.00**|||39.12
**39.12**
360.26
304.83|39.12|| ||||||||||**39.12**|| |||||||||**665.09**||| |||||||||**0.00**
628.25
675.50
675.50
675.50||| |||||||||||**0.00**| |||||||||||| ||||||||**2,654.75**|||| Page 23 ## **Gordon Fraser Charitable Trust** ## **Schedule of Investments and Income** ## **Year ended 31st January 2023** |Gsk Plc
Ordinary GBP0.25
Changed from GlaxoSmithKline plc 25p ordinary shares on 19/05/2022
07/04/2022 Dividend - paid gross
05/05/2022 Sale
01/07/2022 Dividend - paid gross
18/07/2022 Sale of fraction
18/07/2022 Cost reduced (partial trf out)
19/07/2022 Conversion out of SEDOL
Guinness Asset Management
Global Equity Inc GBP Z
29/07/2022 Dividend - paid gross
31/01/2023 Dividend - paid gross
Haleon Plc
Ord GBP0.01
18/07/2022 Conversion in
31/08/2022 Sale||**Holding**|**Book Value**
**£**|**Cost**
**(Proceeds)**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**| |---|---|---|---|---|---|---|---|---| |||3,972
(1,200)
(2,772)
**0**
5,685.00000
**5,685.00000**
2,772
(2,772)
**0**|28,643.72
(8,653.69)
(10.52)
(3,022.39)
(16,957.12)
**0.00**
137,581.75
**137,581.75**
3,022.39
(3,022.39)
**0.00**|(21,228.20)
(10.52)
(3,022.39)
(16,957.12)
**(41,218.23)**
**0.00**
3,022.39
(7,044.70)
**(4,022.31)**|12,574.51
**12,574.51**
**0.00**
4,022.31
**4,022.31**|**0**
**147,649**
**0**|913.56
388.08|| ||||||||**1,301.64**|| ||||||||1,939.15
1,416.70|| ||||||||**3,355.85**|| |||||||||| |||||||||**0.00**| Page 24 ## **Gordon Fraser Charitable Trust** ## **Schedule of Investments and Income** ## **Year ended 31st January 2023** |Hicl Infrastructure Plc
Ordinary GBP0.0001
01/04/2022 Interest - paid gross
04/04/2022 Dividend - paid gross
05/05/2022 Sale
Hipgnosis Songs Fund Ltd
Ordinary No Par Value
15/03/2022 Dividend - paid gross
15/06/2022 Dividend - paid gross
28/10/2022 Dividend - paid gross
31/01/2023 Dividend - paid gross
Impax Funds(Ireland)
Environmental Mkts(Ire) X GBP
International Public Prtnshp Ltd
Ordinary GBP0.0001
13/06/2022 Ord Stock Div - Cash
18/11/2022 Dividend - paid gross|||**Holding**|**Book Value**
**£**|**Cost**
**(Proceeds)**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**| |---|---|---|---|---|---|---|---|---|---|---| |||39,103
(39,103)
**0**
57,289
**57,289**
55,189.00000
**55,189.00000**
39,698
**39,698**||67,516.19
(67,516.19)
**0.00**
69,360.69
**69,360.69**
134,921.92
**134,921.92**
50,219.01
**50,219.01**|(68,076.43)
**(68,076.43)**
**0.00**
**0.00**
**0.00**|560.24
**560.24**
**0.00**
**0.00**
**0.00**|||555.81
249.71|| ||||||||||**805.52**|| ||||||||||751.91
751.91
751.91
751.91|| |||||||||**3,007.64**||| |||||||||**0.00**
1,496.61
1,536.31||| |||||||||||**0.00**| |||||||||||| |||||||||**3,032.92**||| Page 25 ## **Gordon Fraser Charitable Trust** ## **Schedule of Investments and Income** ## **Year ended 31st January 2023** |Ishares Physical Metals Plc
I Shares Physical Gold Etc GBP
Legal & General (Unit Trust Mngrs)
Multi Asset Target Return I GBP Dis
14/03/2022 Interest - paid gross
14/06/2022 Interest - paid gross
14/09/2022 Interest - paid gross
14/12/2022 Interest - paid gross
Legal & General Investment Mgmt
Global Health & Pharma Idx Tst C Gbp Acc
07/03/2022 Dividend - accumulation unit
07/03/2022 Cost write up - acc unit||**Holding**
**Book Value**
**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**
**£**|**Holding**
**Book Value**
**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**
**£**|**Holding**
**Book Value**
**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**
**£**|**Holding**
**Book Value**
**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**
**£**|**Holding**
**Book Value**
**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**
**£**|**Holding**
**Book Value**
**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**
**£**|**Holding**
**Book Value**
**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**
**£**|**Holding**
**Book Value**
**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**
**£**| |---|---|---|---|---|---|---|---|---|---| ||3,410.00000
**3,410.00000**
178,310.03600
**178,310.03600**
105,000.00000
**105,000.00000**||71,976.40
**71,976.40**
83,841.30
**83,841.30**
66,557.50
279.74
**66,837.24**|**0.00**
**0.00**
279.74
**279.74**|**0.00**
**0.00**
**0.00**|**104,005**
**85,910**
**77,858**|**0.00**
522.98
351.26
116.04
537.01||| ||||||||||**0.00**| ||||||||||| ||||||||**1,527.29**||| |||||||||279.74|| |||||||||**279.74**|| Page 26 ## **Gordon Fraser Charitable Trust** ## **Schedule of Investments and Income** ## **Year ended 31st January 2023** |Lloyds Banking Group
Ordinary GBP0.10
19/05/2022 Dividend - paid gross
12/09/2022 Dividend - paid gross
London Stock Exchange
Ordinary 6 79/86p shares
25/05/2022 Dividend - paid gross
20/09/2022 Dividend - paid gross
Lxi Reit Plc
Ordinary GBP0.01
25/03/2022 Dividend - paid gross
24/06/2022 Dividend - paid gross
18/11/2022 Dividend - paid gross
04/01/2023 Dividend - paid gross
M&g Prudential Plc
Ordinary GBP0.05
07/02/2022 Sale||**Holding**
**Book Value**
**£**|**Holding**
**Book Value**
**£**|**Cost**
**(Proceeds)**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**| |---|---|---|---|---|---|---|---|---|---| |||78,321
**78,321**
780
**780**
49,320
**49,320**
11,640
(11,640)
**0**|55,995.00
**55,995.00**
54,158.00
**54,158.00**
67,679.99
**67,679.99**
25,389.41
(25,389.41)
**0.00**|**0.00**
**0.00**
**0.00**
(24,969.82)
**(24,969.82)**|**0.00**
**0.00**
**0.00**
(419.59)
**(419.59)**|**41,181**
**57,767**
**55,534**
**0**|1,041.67
626.56||| ||||||||**1,668.23**||| |||||||||546.00
247.26|| |||||||||**793.26**|| |||||||||591.84
591.84
621.44
621.44|| ||||||||**2,426.56**||| ||||||||||| ||||||||||**0.00**| Page 27 ## **Gordon Fraser Charitable Trust** ## **Schedule of Investments and Income** ## **Year ended 31st January 2023** |Maitland Institutional Services Ltd
Mi Twentyfour Am Dynamic Bd I Gr Shs Inc
28/02/2022 Interest - paid gross
31/05/2022 Interest - paid gross
31/08/2022 Interest - paid gross
15/11/2022 Interest - paid gross
16/11/2022 Sale
Monks Investment Trust plc
5p ordinary shares
07/02/2022 Purchase
09/09/2022 Dividend - paid gross
Phoenix Group Holdings Plc
Ordinary GBP0.10
07/02/2022 Sale
09/05/2022 Dividend - paid gross
12/09/2022 Dividend - paid gross|**Holding**
**Book Value**
**£**|**Cost**
**(Proceeds)**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**| |---|---|---|---|---|---|---| ||910.18880
101,106.47
(910.18880)
(101,106.47)
**0.00000**
**0.00**
7,534
86,098.05
**7,534**
**86,098.05**
7,884
54,507.24
(3,800)
(26,271.88)
**4,084**
**28,235.36**|(83,043.60)
**(83,043.60)**
86,098.05
**86,098.05**
(24,996.99)
**(24,996.99)**|(18,062.87)
**(18,062.87)**
**0.00**
(1,274.89)
**(1,274.89)**|**0**
**76,545**
**26,170**|1,016.81
987.94
1,126.21
1,257.23|| ||||||**4,388.19**|| ||||||177.04
**177.04**
1,012.83
1,012.83|177.04| |||||||**177.04**| ||||||**2,025.66**|| Page 28 ## **Gordon Fraser Charitable Trust** ## **Schedule of Investments and Income** ## **Year ended 31st January 2023** |Polar Capital Funds
Gbl Tech Fd Cls'i'stg Shs Cls
Polar Capital Funds Plc
Global Convertible Portf S GBP Dis Hgd
29/04/2022 Dividend - paid gross
29/07/2022 Dividend - paid gross
28/10/2022 Dividend - paid gross
22/12/2022 Conversion out of SEDOL
Polar Capital Funds Plc
Global Convertible Ptf Ccy Y Gbp Hgd Dis
22/12/2022 Conversion in
31/01/2023 Dividend - paid gross
Prudential plc
5p ordinary shares
17/05/2022 Dividend - paid gross
27/09/2022 Dividend - paid gross||**Holding**
**Book Value**
**£**|**Holding**
**Book Value**
**£**|**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**|**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**|**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**|**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**|**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**|**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**| |---|---|---|---|---|---|---|---|---|---| |||1,730.00000
**1,730.00000**
8,575.00000
(8,575.00000)
**0.00000**
7,976.09300
**7,976.09300**
1,544
**1,544**|19,258.74
**19,258.74**
77,472.25
(77,472.25)
**0.00**
77,472.25
**77,472.25**
12,563.94
**12,563.94**|**0.00**
(77,472.25)
**(77,472.25)**
77,472.25
**77,472.25**
**0.00**|**0.00**
**0.00**
**0.00**
**0.00**|**90,981**
**0**
**79,920**
**20,682**|**0.00**
937.24
886.65
950.11||| ||||||||||**0.00**| ||||||||**2,774.00**||| ||||||||1,225.12||| ||||||||**1,225.12**||| |||||||||145.75
76.89|| |||||||||**222.64**|| Page 29 ## **Gordon Fraser Charitable Trust** ## **Schedule of Investments and Income** ## **Year ended 31st January 2023** |Rentokil Initial
Ordinary GBP0.01
18/05/2022 Dividend - paid gross
12/09/2022 Dividend - paid gross
Relx Plc
GBP0.1444
07/02/2022 Sale
07/06/2022 Dividend - paid gross
08/09/2022 Dividend - paid gross
Rio Tinto plc
10p ordinary shares
21/04/2022 Dividend - paid gross
22/09/2022 Dividend - paid gross
Royal Dutch Shell plc
EUR 0.07 'B' ordinary shares
01/02/2022 Conversion out of SEDOL|**Holding**
**Book Value**
**£**|**Holding**
**Book Value**
**£**|**Holding**
**Book Value**
**£**|**Cost**
**(Proceeds)**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**| |---|---|---|---|---|---|---|---|---|---| |||7,185
**7,185**
3,437
(1,000)
**2,437**
939
**939**
1,772
(1,772)
**0**|17,076.93
**17,076.93**
55,397.25
(16,117.91)
**39,279.34**
31,011.65
**31,011.65**
24,246.72
(24,246.72)
**0.00**|**0.00**
(22,801.00)
**(22,801.00)**
**0.00**
(24,246.72)
**(24,246.72)**|**0.00**
6,683.09
**6,683.09**
**0.00**
**0.00**|**35,257**
**58,537**
**59,335**
**0**||308.95
172.44|| |||||||||**481.39**|| |||||||||865.13
382.60|| ||||||||**1,247.73**||| ||||||||3,308.28
2,081.10||| ||||||||**5,389.38**||| ||||||||||| ||||||||||**0.00**| Page 30 ## **Gordon Fraser Charitable Trust** ## **Schedule of Investments and Income** ## **Year ended 31st January 2023** |Royal London Asset Management
Sterling Credit Instl A Inc Nav
07/04/2022 Interest - paid gross
30/06/2022 Interest - paid gross
30/09/2022 Interest - paid gross
18/11/2022 Purchase
30/12/2022 Interest - paid gross
Smith (D S) plc
10p ordinary shares
03/05/2022 Dividend - paid gross
05/05/2022 Sale
01/11/2022 Dividend - paid gross
31/01/2023 Dividend - paid gross
Schroders International Selection
Asian Total Return GBP C Inc Nav
05/05/2022 Purchase
28/12/2022 Dividend - paid gross||**Holding**|**Book Value**
**£**|**Cost**
**(Proceeds)**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**| |---|---|---|---|---|---|---|---| |||47,952.00000
35,989.69460
**83,941.69460**
16,304
(9,261)
**7,043**
272.00000
105.00000
**377.00000**|68,210.06
41,284.19
**109,494.25**
48,480.57
(27,537.94)
**20,942.63**
98,641.29
44,345.24
**142,986.53**|41,284.19
**41,284.19**
(30,821.14)
**(30,821.14)**
44,345.24
**44,345.24**|**0.00**
3,283.20
**3,283.20**
**0.00**|**100,058**
**24,897**
**156,440**|600.07
593.98
620.73
642.03| ||||||||**2,456.81**| ||||||||782.59
718.38
422.58| ||||||||**1,923.55**| ||||||||4,374.22| ||||||||**4,374.22**| Page 31 ## **Gordon Fraser Charitable Trust** ## **Schedule of Investments and Income** ## **Year ended 31st January 2023** |Shell Plc
Ordinary EUR0.07
01/02/2022 Conversion in
29/03/2022 Dividend - paid gross
28/06/2022 Dividend - paid gross
20/09/2022 Dividend - paid gross
19/12/2022 Dividend - paid gross
Skyline Umbrella Fund
Eagle Cap US Eqty Eagle Founder USD Acc
06/09/2022 Purchase
Smith & Nephew plc
US$0.2 ordinary shares
11/05/2022 Dividend - paid gross
26/10/2022 Dividend - paid gross
T Rowe Price (Lux) Mgt Sarl
Global Value Equity Qd GBP Dis
07/02/2022 Purchase
06/04/2022 Dividend - paid gross
08/07/2022 Dividend - paid gross||**Holding**
**Book Value**
**£**|**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**|**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**|**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**|**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**|**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**|**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**| |---|---|---|---|---|---|---|---|---| ||1,772
24,246.72
**1,772**
**24,246.72**
713.41000
85,352.42
**713.41000**
**85,352.42**
3,177
55,520.02
**3,177**
**55,520.02**
12,184.00000
141,618.08
5,000.00000
57,040.00||24,246.72
**24,246.72**
85,352.42
**85,352.42**
**0.00**
57,040.00|**0.00**
**0.00**
**0.00**|**42,067**
**87,225**
**35,408**|323.92
354.57
382.22
365.20||| |||||||**1,425.91**||| |||||||**0.00**
584.56
410.15
**994.71**
262.50
1,024.57|**0.00**
584.56
410.15|| |||||||||**0.00**| ||||||||**994.71**|| Page 32 ## **Gordon Fraser Charitable Trust** ## **Schedule of Investments and Income** ## **Year ended 31st January 2023** |T Rowe Price (Lux) Mgt Sarl
Global Value Equity Qd GBP Dis
06/10/2022 Dividend - paid gross
05/01/2023 Dividend - paid gross
United Kingdom(Government Of)
0.125% Bds 31/01/2028 GBP1000
06/05/2022 Purchase
31/07/2022 Interest - paid gross
21/11/2022 Purchase
31/01/2023 Interest - paid gross
Vanguard Investment Series
S&p 500 Etf Inc Nav
04/04/2022 Dividend - paid gross
05/07/2022 Dividend - paid gross
28/09/2022 Dividend - paid gross
28/12/2022 Dividend - paid gross||**Holding**|**Book Value**
**£**||**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**|**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**|**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**|**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**|**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**| |---|---|---|---|---|---|---|---|---|---| |||**17,184.00000**
47,000.00
73,070.00
**120,070.00**
3,004.00000
**3,004.00000**|**198,658.08**
43,052.44
62,134.68
**105,187.12**
100,083.89
**100,083.89**|||**0.00**
**0.00**
**0.00**|**206,208**
**102,948**
**184,839**|421.05
405.82|| |||||||||**2,113.94**|| ||||||||||29.37
75.04| ||||||||||**104.41**| ||||||||||589.06
631.54
728.76
645.28| |||||||||**2,594.64**|| Page 33 ## **Gordon Fraser Charitable Trust** ## **Schedule of Investments and Income** ## **Year ended 31st January 2023** |Vontobel Asset Management Sa
Twentyfour Gbl Unconatrained Bd Aqng Gbp
04/04/2022 Interest - paid gross
06/07/2022 Interest - paid gross
30/09/2022 Interest - paid gross
02/12/2022 Interest - paid gross
30/12/2022 Interest - paid gross
Vontobel Asset Management Sa
Twentyfour Abst Return Credit Aqg GBP
07/04/2022 Interest - paid gross
06/07/2022 Interest - paid gross
30/09/2022 Interest - paid gross
30/12/2022 Interest - paid gross
Waverton Investment Management Ltd
European Capital Growth S GBP Dis
10/06/2022 Dividend - paid gross|||**Holding**
**Book Value**
**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**
**£**|**Holding**
**Book Value**
**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**
**£**|**Holding**
**Book Value**
**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**
**£**|**Holding**
**Book Value**
**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**
**£**|**Holding**
**Book Value**
**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**
**£**|**Holding**
**Book Value**
**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**
**£**|**Holding**
**Book Value**
**Cost**
**Profit**
**Market Value**
**Net Income**
**(Proceeds)**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**
**£**
**£**| |---|---|---|---|---|---|---|---|---|---| |||432.00000
**432.00000**
895.54000
**895.54000**
5,578.00000
**5,578.00000**||45,978.88
**45,978.88**
92,315.41
**92,315.41**
58,539.59
**58,539.59**|**0.00**
**0.00**
**0.00**|**0.00**
**0.00**
**0.00**|**39,321**
**86,384**
**76,909**|388.80
457.92
501.12
4.32
531.36|| |||||||||**1,883.52**|| |||||||||304.48
295.52
483.59
501.50|| |||||||||**1,585.09**|| ||||||||||797.71| ||||||||||**797.71**| Page 34 ## **Gordon Fraser Charitable Trust** ## **Schedule of Investments and Income** ## **Year ended 31st January 2023** Weir Group plc 12.5p ordinary shares 06/06/2022 Dividend - paid gross 04/11/2022 Dividend - paid gross ## **TOTAL:** |**Holding**|**Holding**|**Book Value**
**£**|**Cost**
**(Proceeds)**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**|**Profit**
**Market Value**
**Net Income**
**(Loss)**
**31/01/2023**
**£**
**£**
**£**| |---|---|---|---|---|---|---| ||1,801|||||221.52
243.13| ||**1,801**|||||**464.65**| |||||||| ||||||**83,550.85**|| Page 35