Tyne and Wear Foundation Trust Annual financial statements for the year ended 31 March 2025 Registered Charity P¥umber 1030800
Tyne and Wear Foundation Trust Annual financial statements for the year ended 31 March 2025 Contents Trustcc and adN'iscrs for thc year ended _31 March 2025 .-......................... I rustCL'S repi)n f()r thL )"Lar ended 31 March 20• j.... IndLpLndcnt LxaminLrs' report to the T'ru.qtee nf Tyne and li'ear I'ounddtion 'l-rus1............................................ SLalcmLnt ol finanLial aLtiiitie.s for the year ended 31 March 2025...... Ba1Cti shLYt as at 31 Mch 2025..................................-..-.-....-.-..-................... ................................................. NulL5 to thL finanLidl stdlLmcnts for thL year ended 31 March 2025........................ .
Tyne and Wear Foundation Trust Trustee and advisers for the year ended 31 March 2025 Trustee Comniunil). Foundation North Easl Independent Examiller Simon Browi BA ACA Dcha Aiets Audil SeTrices BulmJn House Regent Centre Gosforth Newcastle upx)n Tyne NL3 3LS Maln Ballker Bdrcla}'% Bank PLC Ne.¢$t[C Corporate Servitts BarLlay.s Flnu.qe 5 8t. Ann's Sireel Quayside NeThcasile upon l j'ne NLI 3DX Investmellt Ivlallager CCLA InvL%tment Mana¥¢menl LitnilLd OnL AngLI LL London LC4R 3AB Principal ollee Philanthropy H()use Woodbine Road Gusforth N'ewca£tle upon 'lj'ne NE3 IDD
Tyne and Wear Foundation Trust Trustee's report for the year ended 31 March 2025 ThL following information aboul the financial year ended 31 mch 2095 is presented in the fonn required by thc Charity Cominission and is in atycordLe NNith Ac¢ounling and Reponing bj Charities.. Stalemeni of RecommLndLd PracticL (SORPI, 2019. Structure. governance and tllallagetllellt l-he T jne and W'edr Foundation Trust is a registered ¢h8rit!' no. 1030800 and is governed b), a trust deed dated 21 December 1993. li has a L()rpurate Trustee, the Communil! Foundalion North Lasl. Details ofgok'emance and management regarding the Trustee board and exeLulive officers ofthe group Lan bc found in thL finanLial slaicmLnt5' ul the -fruslee. The Charily is registered in the lJnited Kingdom. Objectives and activities The 'frusl is est2blished for the relieflif pofv'erty. Ihe adancement ()r ¢duualion, LhL adi'ancemLnl of religion or any oiher charitable purpose for the benefit of ihe Lommunilj in the aica of'i yne & ear and ils immediate ncigyhbi)urhi)od. 'fhe Trust ci)ntinue% ti) h()Id permanent endoThmeni funds which its-l ruslee is unable io hi)Id as it ]% a limitLd compan).. The main ()bjective ()f the year was to award grants from the charitable funds and IhL Trust awarded 8 grants to organisatii)ns and 7 g)rant% to IndildualS. The I')'ne and Nl'ear F'L)undation '[ rust exists and opeffdles for ihe public bL'nLfil. ThFuugh its granlmaking it w()rk.q to help penple in need in the area i) r'J'}'ne & Wear and ils immedidle neighbourliood. -I'he .1 ruslee confirm.8 that it has relirred Eo the guidance produced by the L.'harity C.'omniission on public benefit when rcvlL ing) the C'.harity's aim.% and objectives and in planning tuiure aulii(ilies and granlmaking [d is satisfied that its rcquirements have been met. Achievements and performanee During the financial J'ear ended 31 March 2025 ihe .1 Nsl alarded £16,015 ofnew grants,, as nuleJ in Nole 4 10 the tindnLial statements. IDvestment policy ThL Lrust dLLd providL5 po"Cr of inN LstmLnt thL a£sLÈs of the Trust are investLd by the investment managcr5 who at thL yLILf Lnd 'lFl L'.Cl.A InvLstmLnl ManagLmLnl LimitLd. ThL T'rustLL dppi)in15 an InveslTneni &- l. inance LoimTnitl<e tnade up oldir¢Llors of Q'.oiiimunily l.uundation North l.ast dnd uthLr co- optees. Perli)mianLe infornation for the year showed fundb deLreas¢d by a tutal reiurn of 1.460, (net). I'he Commitiee were content Wtih Ihe perfonn&nLe on the Lunds in light of the ditriculL finanLial markei LonLlilions.
Tyne and Wear Foundation Trust Trustee's report for the year ended 31 March 2025 (continued) Finalleial reTr'iew The da lo day running of the charity is varried out by ihe TruslLe. l)uring the ytrar the Trusi made payments totalling £5,084 (21124= £4,478) to iL%'frustee for administration. During the financial year the I'rust had net expenditure of £32,454 (21194.. £94,918 income) after the deduction of invcstment losses of £36,765 (2024: £79.454 gains). I'he'l rusl's total tunds at 31 March 2025 were £904,635 (2023.. £937,089}. Plans foT future periods The Tnistce plans lo continue to use available funds to pruvide grants tor the bLnefil of the community in the (ca of T>"ne & Wear and its immediate ne1ghturhlxTrd. Reserves policy l)ue io the nature of the trust ti]nd it is the polic). to pay its income out in grants and Iherelore reserves are kcpt to a minimum. The Trust only awards grants from income actually receIed, so although income will reduced in thc Loming year c()mmitments have not been made beyond those that are Lovered b! income. Risk m#nJgemellt The Tru.%tee has examined Ihc major stratcgic, business and operationdl risks which the charity taces and confim% thai 5)'sILms havc bLLn c%tabli.8hed to enable regular rLPUrtS to bL pr()duced s() that the necessary steps can be lakun lo managc IhLsc risk.s. Statement of the trustee's responsibilities The Trustee is responbiblL lur prLPdrinu ihc Trustee's Annual tiep(Trrl and ihL finLIa] slalemenLs in aLL()rdance with appliLdbl¢ Idw and UnitLd Kingdom Accounting Standdrds (UniLLd King)dom (iLnerally AcLepted Accounting PraLliLL). The law appliuable io Lhl1]L in Enld and Wdles requires Lhe TruslLL to prLpdfL financial .Etstements for eaLh linancial year whitih a IruL and fair ViLW Ot'the state ol- affair5 ul thL uhdtity and i)f LhL inc(Iming resoiir¢es and appliLdliun Lif rLsuurLcs of the charity lor that periud. In prLparing thLse tinanLial statements,, the I rustee is required .. seleLt suitable aLcounling policies and th¥n apply Ihcm Lonsistently- obseThe the methods prinLiples in the Charities SOIIP 2019 {FRS 102); make judgements, and estimalcs that are redsondble and prudeni- siatc th.hLthLr applicable UK Accounting Standard% have bLcn folloTh'ed, subject to any malerial departures disLloseLI and explained in Ihc financial slatem6nlS' and prcparc the findnuial stdtements on the going Lonlem basis unlcss it is inappropriate lo presumL that the Lharily will continut in business. Thc T'rustee is responsible l()r kLeping accounting rec(Irds that are suklicient to show and explain the Lharity's transactions and disLI()se with rennable acLuraLy ai an> lime thL fInCIal posilion of the chariiy and cnable it io ensure Ihai ihe fInlIa1 st<ltLments comply kK'iih Ihe Charities Aut 2011: the Charits, (ALtyounl% and Reports) Regulations 2011% the proi'ision ()t the tru%1 deed. 11 is also responsible r()r sale8uarding¥ the assets of ihe charity, and hence lor takingJ rLnable steps for the prel'eniion and deleLtion (If fraud and other irregularities.
Tyne and Wear Foundation Trust Trustee's report for the year ended 31 March 2025 (continued) Indepelldent E¥aminer5 Azets Audit Serp'ices have indiLated their willinnness to continue in otriLe and a res()lution con¢eming their re- appoinlmLnt ab indLpLndLnl cxaminLrs of the charit). will be proFX)sed al the annual general m¢¥ling. Ap e Trustee signed on lis behalf: Phil Nloorhous Chair and Direcsor for Comtllunity Foundation North East Trustee 24 Seplember 2025
Tyne and Wear Foundation Trust Independent Examlner's Report to the Member of Tyne and Wear Foundation Trust I repurt lo the Iru.stees on my eyaminalion of the fInCIal siatemenl ot-the Tyne dnd IN'ear Foundation 'lrusi for the ycar ended 3110312025. Responsibilities and basis of report A5 the ch<Wiry'S trustees, you are responsible lor the preparation ofthe accoun15 in aLLordance with the requirernents of the Charities Aci 2011 ('khc Act"). I report in respect of m). examination of the Trust's accounts carried oul under seLtion 145 of the 2011 Act and in carry ing i)ut my examination, I hai'L follow'ed all the appliLable Direuiions given by thc Charity Commission under section 145(i){b) ol lh¥ Aut. Indepeudellt exaD]iner's statement I have uomplLtLd my cxamination. I confim1 thal no malLYidi tnattLrs have Lome to my attention in conneLtion ith ihe Lxamination which gives me cause to believe that in, any matcrial respect-. the accounting records wer¥ not kLPt in accordance Th'ith section 1.30 of the (,.hilic5 ALt- or the aciuunls did not aLLord with the acLouniing recoid5- or thc accounts did noi cnmply with the appliLablL rLquirLmcnts concerning the fi)m] and ¢c)ntenl or dLLounts sct i)ut in the Charities {ALuiiunls dnd RLports) RLgulation.% 2008 other than any requirement thdl IhL aLLounls give a 'true and fair, view which is nol a mattLr Lon%idered &q part ol-an independent CA]nation. I hdVL no conLerns and have Irne dLfoss nu oihLr tnattLrs in L()nnLCtion with ihe examindliLin lo whiLh aLIL' un %huuld be drawn in this retX)rt in order Lo L"n<ibl< a propLr UndelEtdIng ofihe aLLtsunls Lo be reached. Simi)n Azct5 Audit Services Buiman Flouse Re&s¥nl Lenlre NeM'¢asile upon T}'nu NE3 3LS row'n A DChA DaLe: E.l0-2J- Azets Audit Services is a trading name of Azets Audit Services Limited
Tyne and Wear Foundation Trust Statement of financial activities for the year ended 31 March 2025 Nole Kestricled Lnd0ment runds funds Total 2025 2024 Income and endoivments from: Invesimcnt income 25,458 25,458 28,726 Total income and endowments 25,458 28,726 Expenditure on: Ini'estmenl management cos 1,790 Chdritabl¥ aclivitics 21,147 21,147 11,472 Total expeDditure 21.147 21,147 13,262 (Losses)Ig&ins invi'51munl asbL15 (36,765) {36,765) 79,4)4 Net income/(expenditure) 4,311 136,765) (32,454} 94,918 'I"oral funds brought forward Total funds carried forward 40,697 4i,1108 896.392 937,089 904,635 842.171 859,627 937,089 All olihu atK)vL rLsu115 arL LILfivLd frum continuing OPLrations. All gains and IossL"S whitih WLre incurrcd in the year and prior yLar arc inLludLd dbovL. -l-hL LOMpall.L figurLs for cach arL shuwn in thL notLs tu th aicounts (noie 2).
Tyne and Wear Foundation Trust Balance sheet as at 31 March 2025 P4ote 2025 2025 2024 2024 Fi.ied assets Lndowment fund investments 859,627 896,392 Current assets Debtors 6J76 6,338 Cash al bank and in hand 38,632 37,914 Total current assets 45,008 44,252 Creditors: amounts falling due within one year (3,555) Net current assets 4.S,008 40,697 Total assets less current liabilities 904,635 937,089 The fuuds of the charity: F.ndowmenl lunds 8.59,627 896,392 Restriuled inLX)mL funds io 45,008 40,697 Totdl charity funds 904,635 937,089 l-he financial slalemenls. on Pd¥LS 6 10 14 wLrL dppfovLd by the I'rustee 24 SLplLmbLr 2025 and WLre signLd un ils bL'hd]f by.. Paul Farquhar Treasurer and Director ol-community Foundalion N'orth Edst Trustee
Tyne and Wear Foundation Trust Notes to the financial statements for the year ended 31 March 2025 Accounting polices Basis of preparation I'he tinanvial statements have been prepared on a going concern basis undLr the historical cost convcntion as modified by ihe revaluation ot'listed ini'estments. The financial statements have bcen prepared in acLordanLe wilh Accounting and Reporting b) Charities.. Statement ot'Recommended Practice applicable lo charities preparing their aLLounts in accordance w'"iih the F inancial Reporting Standard appSi¢able in the UK and Republic of Ireland (F'RS 102) (effeLrtivc l January ?0191- (Charities S()RP {FRS 102)), the Financial Rcponing Standard applicable in the UK and Republib of IrLland (FRS 102) and the Chariiies Act 2011. Tyne and Wear Founddtion Trust meets the definition of a public benefit entity under FR% 102. The Trustee considers Ihal there are no material unucrtaintiLs about the Charity's ability to continue as a going concern. b) Cash flow The Trust 1% a sm211 entity and, as such, it h&8 taken advantage uf IhL exemption from prep&iring a ch flow stateinent under the terrms of. Sectian 7 1. inantyial Ileporling Siandard 102. Investments Inv¥blill¢ntS drL slalLd al markLt valuL at IhL Ye cnd dnd any g)ain or loss on In.£%[Ments is taken tn the Stsiemenl OL. l. inanuial AulivitiLS. d) Resources expended l.iabilities are recogJnised as resuurces expendvd as soon IhLrL 15 a ILgal or Lon%truclivL obligation commilling the charily to the exp¥ndiluTL. (iiant LommitmLtitS drL acLounlLd for on an accruals basis, onLC approved by the Trustee. Charitable Activities Costs of charitable activities include grants made and the adminibiration L05ts associated with grant-mJking. Goi'erllance costs LiOi'¢rnanLL Losls of thL I"rusl have all been coi.ered by ils'frustcL. g) InvesttnenÉ iDcotne Investmeni income is aLuounted for on an accruals basis. b) Fund 2eeollnting Fundb held by thti-frust are: Restricted funds- these are funds that Lan only bt used for a specific purpN)se. EndowmLni funds= these are pcrmanLnt tunds that are invested and the income is crediled to th¢ restricted fund. Debtors Diwidends intL'rest recL'ii'dble are stated al the amount due to be received.
Tyne and Wear Foundation Trust Notes to the financial statements for the year ended 31 March 2025 (continued) Accounting polices (continued) i) Casb At bank and in hand Cash at bank and in hanLI inLludLS cash and short term highly liquid inF'estmenls with a short maturity of twelve months or less from the dale of aLquisilion or opening ot'the deposit or similar account. k) Creditors and provisions Crcditors and prui'isions are reLognised here the charity has a prLscnt obligation resulting from a past C'ent thdt will probably rLsuIt in the trter ot-funds io a third party and IhL amouni duc to scltlc the obliLTation can be mcasurL.d or cstimated reliably. This inLludes grants payable when the offer 15 approvcd and convLycd lo the recipiLnl. Creditors and provi.sions are nornially recognised al their settlement amount. i) JudgemeDts alld ke). sources of estimation uneertaintv 'I'he prep(watiun olihc Financial 51dtLmLnts rLquirc% management to make.jud8ements, estimates and &ssumptions that alleLI Ihc amuunlb rLportLd. ThL.qL c%timate% dnd judgemenr.q are Li)niinually revÈewed and are based on experience and other fdclor5, including cxpcctatii)n.s ot. futurL event.q ihat are believed lo be reasonable under Lhe uircumslanues. -I"hL'rL arc no 5ULh judgLmcnts within the financial .£tatemenls. Statement of Financial Activities prior year fund comparatives RLslriLted funds Endowment runds Tot21 2024 Income and endoTh'ments from: InvLStmL"nt inLomc 28,726 28,726 Total illlome And endoivments 28,726 28,726 Expenditure on: Investment management a)s 1,790 1,790 Chariiable acti¥'ities 11,472 11,472 Total expen(liture Gains on investment assets 11,472 1,790 79,454 13,262 79,454 Net income 17,254 77,664 94,918 .1 olal funds brought forward Total funds carried fonyard 818,728 896,392 842,171 937,089 411,697
Tyne and Wear Foundation Trust Notes to the financial statements for the year ended 31 March 2025 (continued) 3 Investment income 2025 2024 Di.1endS and interest fri)m endoiimenl fund investments 25.458 28,726 4 Charitable activities I'he-l >'ne and Il'Lar Foundation Trust und¢rtakes its Lharitable activities through grantmaking. 2025 2024 (irdnls payablL 16.015 6,948 DirLLt LOStS' 4,524 21,147 11,472 Granls 'ere aivarded ii) the year lo other charili¥s, voluntary orgdnlLluns and indivi(iuals as follows-. 2025 2025 Number 2024 2024 NumbLr Grants approved for payment: Other ch&rities & voluntary organisalions 10,679 4,648 Individuals 5,336 2,300 Total grant expenditure 16.015 15 6,948 A full listing of grants a'arded in the finanuial >ear can be found on the parcnl charit> website.. www.communityfoundation.org.uk. The independent examination lees are paid by the parent charitable companv and are included in the consoliddteLI accounts. 1-he-Irust did not employ stsff during thL )'ear (?024.' none), and IhLretore has not incurred an} st&tf eosts (2024.. £nil).
Tyne and Wear Foundation Trust Notes to the financial statements for the year ended 31 March 2025 (continued) 5 Investments Endomnent fund ini'estmellts Listed investments MarkLt value at l April 2024 Unrealised losses on realUatIOn 896,392 (36,765) larket Value at 31]¥larch 202) 859,627 Cost at 31 Lmarch 2025 817,509 Cost at 31 March 2024 817,509 ListL'd invc.stmcnLs are .summarised &s follows:_ 2025 Market Value 2024 Maikel Value clleCtIe InveslTnenl SLhumL5 8.59,627 896,-3Y2 859,627 896,392
Tyne and Wear Foundation Trust Notes to the financial statements for the year ended 31 March 2025 (continued) Debtors 2025 2024 DIN']dLdb and interest receivable 6,376 6,338 Creditors: amounts falling due within one year 2025 2024 Grants payable 8 Taxation As a rLgi.%tLred charity ihe "I rusi 15 not liablL lu UK InLomL T, C()rporatii)n l &x, and Capitsl CTains .1 ax d5 long thL income it reLeiN'es is applied for hilabC PUtPLlSCS. There is IherLfore no tax charge in the fLia1 statLmLnts. Endowment funds The permanent end()w'ment fund derives from the transler of the 11,'illiam Bird 14enei'olenl Fund, Abix)t ML'morial Fund, FrLderick Milhum C.'harii&ble I rust, Lddj NoblL Mcmoridl l-rust, George Cringle S¢holarship F'und and Rose JuiLey Fund, the income ot. which is applied to the restriclgd tunds. 12
Tyne and Wear Foundation Trust Notes to the financial statements for the year ended 31 March 2025 (continued) 10 Restricted income funds Details ol restricted funds Within T) ne and lty'ear Foundation Trust are detailed below. Restricsed funds At l April 2024 At 31 Marcb 2025 Income Grants Oiher Abbol Memorial 18,618 10.847 2,215 27250 illiam Bird Benevolent 1,684 622 1,838 124 344 tieor8e Cringle 8Lholarship 8J77 3.326 5.336 664 5,703 Frederick Milburn Charitsblc Trust 2,521 5,542 1.106 6,957 Lady NoblL MLThurial 'l'rusl 184 740 591 148 Rose Jc)iLey 9J13 4,381 X,250 875 4,569 'roLql reslricied funds 40,697 25,458 16,Oli 5,132 45,008 I l Analysis of net assets between funds RLstricted F.ndoTh'ment funLIs funds 2025 Total Investmenis 859,627 859,627 Lurrenl assets 45,008 45,008 Tolal net asseis 859,627 904,635
Tyne and Wear Foundation Trust Notes to the financial statements for the year ended 31 March 2025 (continued) 12 Transactions with the Trustee and Related Parties During the )'ear the I rust made payments totalling £5,08412024- £4,478) to ils Irustee tor adminisiralion and £591 in donations (2024.. £1,093) tu restricted fund5. 13 Ultimate controlling party The ultimate parent undertaking and controlling pty is C.(Immunitv Fi)undalion N()rth East, a Lompany inLorporated in England whi)se Lompany numb¢r is 02273708. The consolidated financial statements or Community Foundation North E&4l oan be obtained fr(Im Philanthropv HousL., li'oodbine Ri)ad, New¢dstle upon'fynL, NE3 IDD. Community Foundation North Et is the smallLst and the larg&st group l(} consolidate the organisation's fmanLial rcsulis. J4