2020-09-30-accounts

4

5 The Trustees after due consideration decided to make the following donations before the end of 2020:

MARGARET PHYLLIS MEWHORT (NEE BAINBRIDGE) TRUST

TRUSTEE MEETING NOTES for YEAR ENDING 30th SEPTEMBER, 2020

1 This meeting was held as the Annual Meeting to review the last twelve months up to an ending 30" September, 2020.

2 The funds of the Trust invested within the Aegon General Investment Account which at today’s dates is valued at £2,413,428.39. In the present economic climate due to Covid 19 and finalisation of Brexit this was considered to be satisfactory, although there was a decrease of £18,581.53 from the date last year. In any event, the performance of this investment is closely and regularly monitored.

3 Donations made during the last twelve months:-

Donations:-

North East Learning Trust (Teesdale School) £18,500.00 Music at the Heart of Teesdale £1,000.00 St Mary’s Church £2,000.00 Silverline £5,000.00 Association of Teesdale Day Clubs £5,000.00

Professional fees were £3500.00 for legal and administrative charges.

North East Learning Trust (Teesdale School) £20,500.00 St. Mary’s Church, Wycliffe £1,500.00 Royal Voluntary Service £1,500.00 Music at the Heart of Teesdale £1,000.00 — final instalment of £3000

6 Even though the Trust Funds are available for potential donation situations during the coming year at the discretion of the Trustees, there were no further applications to consider or any other business, so the meeting was declared closed.

Signed:

dictate Allison Patterson

----- Start of picture text -----
Yo. ik.
William Alan Jacks
----- End of picture text -----

CHARITY REGISTRATION NUMBER: 1066032

Margaret Phyllis Mewhort (nee Bainbridge) Trust Unaudited Financial Statements 30 September 2020

CS ACCOUNTING LIMITED

5 McMillan Close Saltwell Business Park Low Fell Tyne & Wear NE9 5BF

Margaret Phyllis Mewhort (nee Bainbridge) Trust

Financial Statements

Year ended 30 September 2020

	Page
Trustees’ annual report	1
Independent examiner's report to the trustees	2
Statement of financial activities	3
Statement of financial position	4
Statement of cash flows	5
Notes to the financial statements	6
The following pages do notform part ofthe financial statements
Detailedstatementoffinancialactivities	12

Margaret Phyllis Mewhort (nee Bainbridge) Trust

Trustees’ Annual Report

Year ended 30 September 2020

The trustees present their report and the unaudited financial statements of the charity for the year ended 30 September 2020.

Reference and administrative details

Registered charity name	Margaret Phyllis Mewhort (nee Bainbridge) Trust
Charity registration number	1066032
Principal office	Eshwood Hall
	New Brancepeth
	Durham
	DH7 7HG
The trustees
	Ms A Patterson
	Mr WA Jacks
Independent examiner	CS Accounting Limited
	5 McMillan Close
	Saltwell Business Park
	Low Fell
	Tyne & Wear
	NE95BF

The trustees’ annual report was approved on 13 May 2021 and signed on behalf of the board of trustees by:

Ms A Patterson Mr WA Jacks Trustee Trustee

1

Margaret Phyllis Mewhort (nee Bainbridge) Trust

Independent Examiner's Report to the Trustees of Margaret Phyllis Mewhort (nee Bainbridge) Trust

Year ended 30 September 2020

| report to the trustees on my examination of the financial statements of Margaret Phyllis Mewhort (nee Bainbridge) Trust (‘the charity’) for the year ended 30 September 2020.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

| report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

| have completed my examination. | 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 financial statements do not accord with those records; or

3. the financial statements 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.

| 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.

C Smith Independent Examiner

5 McMillan Close Saltwell Business Park Low Fell Tyne & Wear NE9 SBF

13 May 2021

2

Margaret Phyllis Mewhort (nee Bainbridge) Trust

Statement of Financial Activities

Year ended 30 September 2020

		2020	2020	2019
		Unrestricted
		funds	Totalfunds	Total funds
	Note	£	£	£,
Income and endowments
Investment income	4	21	2	33
Total income		21	21	33
Expenditure
Expenditure on charitable activities	5,6	48,138	48,138	38,692
Total expenditure		48,138	48,138	38,692
Net gains on investments	7	57,356	57,356	163,490
Netincome and net movement in funds		9,239	9,239	124,831
Reconciliation of funds
Total funds brought forward		2,432,520	2,432,520	2,307,689
Totalfundscarriedforward		2,441,759	2,441,759	2,432,520

The statement of financial activities includes all gains and losses recognised in the year. Allincome and expenditure derive from continuing activities.

The notes on pages 6 to 10 form part of these financial statements.

3

Margaret Phyllis Mewhort (nee Bainbridge) Trust

Statement of Financial Position

30 September 2020

		2020	2019
	Note	£	£
Current assets
Investments	10	= 2,413,428	2,432,010
Cash at bank and in hand		28,69 1	690
		2,442,119	2,432,700
Creditors: amounts falling due within one year	11	360	180
Net current assets		2,441,759	2,432,520
Total assets less current liabilities		2,441,759	2,432,520
Net assets		2,441,759	2,432,520
Funds of the charity
Unrestricted funds		2,441,759	2,432,520
Totalcharityfunds	12	=2,441,759	2,432,520

These financial statements were approved by the board of trustees and authorised for issue on 13 May 2021, and are signed on behalf of the board by:

Ms A Patterson Trustee

Mr WA Jacks Trustee

The notes on pages 64 to 10 form part of these financial statements.

4

Margaret Phyllis Mewhort (nee Bainbridge) Trust

Statement of Cash Flows

Year ended 30 September 2020

----- Start of picture text -----
||||||||||| |---|---|---|---|---|---|---|---|---|---| |a ,| |2020|2019| |£|£| |Cash|flows|from|operating|activities| |Net income|9,239.|124,83]| |Adjustments|for:| |Net|gains|on|investments|(57,356)|(163,490)| |Dividends,|interest|and|rents|from|investments|(21)|(33)| |Accrued|expenses|180|-| |Cash|generated|from|operations|(47,958)|(38,692)| |Net cash|used|in|operating|activities|(47,958)|(38,692)| |Cash|flows|from|investing|activities| |Dividends,|interest|and|rents|from|investments|21|33| |Purchases|of other investments|-|(125,011)| |Proceeds|from|sale|of|other|investments|75,938|163,490| |Net|cash|from|investing|activities|75,259|38/512| |Net increase/(decrease)|in|cash|and|cash|equivalents|28,001|(180)| |Cash|and|cash|equivalents|at|beginning|of year|690|-|870| |Cash|and|cash|equivalents|at end|of year|28,69]|690|

----- End of picture text -----

Ceee eeeThe notes on pages6 to 10 form part of these financial statements.

5

Margaret Phyllis Mewhort (nee Bainbridge) Trust

Notes to the Financial Statements

Year ended 30 September 2020

1. General information

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Esnwood Hall, New Brancepeth, County Durham, DH7 7HG.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’, the 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 (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability fo continue.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

6

Margaret Phyllis Mewhort (nee Bainbridge) Trust

Notes to the Financial Statements (continued)

Year ended 30 September 2020

1. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; itis probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

• e — income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

• ° legacy income is recognised when receipt is probable and entitlement is established. ° income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

• ° income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it fo be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

• ° expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.

• ° expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

• e other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Snared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

7

Margaret Phyllis Mewhort (nee Bainbridge) Trust

Notes to the Financial Statements (continued)

Year ended 30 September 2020

3. Accounting policies (continued)

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

1. Investment income

				Unrestricted	Total	Funds	Unrestricted	Total	Funds
				Funds		2020	Funds		2019
				£		£	£		£
Income	from	listed	investments	21		21	33		35

8

Margaret Phyllis Mewhort (nee Bainbridge) Trust

Nofes to the Financial Statements (continued)

Year ended 30 September 2020

5. Expenditure on charitable activities by fund type

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2020	Funds	2019
	£	£	£	£
Donations	31,500	31,500	24,500	24,500
Support costs	16,638	16,638	14,192	14,192
	48,138	48,138	38,692	38,692

6. Expenditure on charitable activities by activity type

		Activities
		undertaken	Support	Totalfunds	—	Total fund
		directly	costs	2020		2019
		£	£	£		£
	Donations	31,500	16,638	48,138		38,692
7.	Net gains on investments
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2020	Funds		2019
		£	£	£		£
	Gains/ (losses) on listed investments	57,356	57,356	163,490		163,490
8.	Staffcosts

The total staff costs and employee benefits for the reporting period are analysed as follows:

2020	2019
£0	£0

The average head count of employees during the year was Nil (2019: Nil).

No employee received employee benefits of more than £60,000 during the year (2019: Nil).

9. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.

10. Investments

			2020	2019
			£	£
Other	investments	AIS	2,413,428	2,432,010

9

Margaret Phyllis Mewhort (nee Bainbridge) Trust

Notes to the Financial Statements (continued)

Year ended 30 September 2020

11. Creditors: amounts falling due within one year

					2020	2019
					£	z
Accruals and deferred income					360	180
Analysis of charitable funds
Unrestricted funds
		At			Gains and	At
	1 Oct	2019	Income	Expenditure	losses 30 Sept 2020
		£	£	£	£	€
General funds	2,432,520		2]	(48,138)	57,356	2,441,759
	2,432,520		21	(48,138)	57,356	2,441,759
		At			Gains and	At
	1 Oct	2018	Income	Expenditure	losses 30 Sept 2019
		£	£	£	£	£
General funds	2,202,209		33	(38,692)	163,490	2,432,520
	2,307,689		33	(38,692)	163,490	2,432,520

1. Analysis of charitable funds

13. Analysis of changes in net debt

		At		At
	1	Oct 2019	Cash flows	30 Sep 2020
		=	g	£
Cash at bank and in hand		690	28,001	28,691
Current asset investments		2,432,010	(18,582)	2,413,428
		2,432,700	9,419	2,442,119

10

Margaret Phyllis Mewhort (nee Bainbridge) Trust

Management Information

Year ended 30 September 2020

The following pages do not form part of the financial statements.

11

Margaret Phyllis Mewhort (nee Bainbridge) Trust

Detailed Statement of Financial Activities

Year ended 30 September 2020

	2020	2019
	£	z
Income and endowments
Investment income
Income from listed investments	2)	33
Totalincome	21	33
Expenditure
Expenditure on charitable activities
Legal and professional fees	16,638	14,192
Donations	31,500	24,500
	48,138	38,692
Total expenditure	48,138	38,692
Net gains on investments
Gains/(losses) on listed investments	57,356	163,490
Netincome	9,239	124,831

12