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...... Ba1￿Cti shLYt as at 31 M￿ch 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 L￿L London LC4R 3AB Principal o￿llee 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 m￿ch 2095 is presented in the fonn required by thc Charity Cominission and is in atycord￿Le 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 ad￿ancement ()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 Indi￿ldualS. 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 a￿larded £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"ne & Wear and its immediate ne1ght￿urhlxTrd. 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 receI￿ed, 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 fin￿LIa] slalemenLs in aLL()rdance with appliLdbl¢ Idw and UnitLd Kingdom Accounting Standdrds (UniLLd King)dom (iLnerally AcLepted Accounting PraLliLL). The law appliuable io Lh￿l1]L￿ in En￿l￿d 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 re￿nnable acLuraLy ai an> lime thL fIn￿CIal posilion of the chariiy and cnable it io ensure Ihai ihe fIn￿lIa1 st'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 orgdnl￿Lluns 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 re￿alUatIOn 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 c￿lleCtI￿e 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']dL￿db 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 ￿h￿ilab￿C PUtPLlSCS. There is IherLfore no tax charge in the f￿￿Lia1 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 p￿ty 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 E￿t is the smallLst and the larg&st group l(} consolidate the organisation's fmanLial rcsulis. J4