Charlty reglstratlon nUfflr 1081657 (England and Wales) Company rnglstrntlon number 03147853 OUSEBURN TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
OUSEBURN TRUST LEGAL AND ADMINISTRATIVE INFORMATION Tru8t•o• Mr J D Bdland MrA Slack Mr P Mufphy Mr D Kni9hl Ms A M Graham Ms K Parkins Mr S M Dexler Mr C C Danc8r (Appointed 18 July 2024) (Appolnted 18 Juty 2024) Charlty number (England and Wal•s) 1081657 Company numbor 03147853 Reglster•d offi 51 Lime Street Ouseburn Vdley Newcastle upon Tyne arKI Wear NE12PQ Auditor Robson Laidler Acuxmtsnts knmrted Femwocmj Htxjse Fern40d Road Jesmond Nlcase upon Ty T8 and Wear Er¥Jland NE2 1TJ Bankgrs UW Trust Bank The Unty Trust Bank Nine Brindley Place 8irmiTrJham 812HB
OUSEBURN TRUST CONTENTS Page Tnstees, report IndeperKlent alIOr'S reFKYl 8-10 ststement of financial aclivilies Balance sheel 13 Noles to the fin&cial statements 14-27
OUSEBURN TRUST TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The trustees pr&8enl theK annual rewt and financial slatements lor year ended 31 March 2025. The truslees who are also directors of the charity for the purposes ol the Companies AGI 2006. prent Iheir report with the financial slalements of the chanty for t1 year onded 31 March 2025. Tha ffinancial slalements have been prepad in accordance with the accounting polici88 set I1 in note 1 to the financial stalements comply wilh Ihe ch8rily'S articles of association, the Companies Act 21x16 and 'Accounting and Repotts'ng by Charilles: Slalement of Reccmmended Practice applicable to chariknes preparing thwr ac(nts in aCCrdanCe with Ihe Financial Reporting Standard applicable in the UK arffl Republic of IrelarKI {FRS 1021" (eff8cliv8 1 January 2019I- Objeclives and activiti•s As sel out in our obj'ects in the artides of 83sociation (updated 7th JY 2011) as fofk)ws'. Th6 promotim for Ihe publ benefit of urt)an or rural regefteraln in areas of s(thl or economic deprivation {8nd In particular Ihe Lower Ousebum Vauey, tKxmded by the River Tyne to soulh. w&r4Ck St to the north, Newinglon Rd, Elizabeth St, Metro line ar¥J disused railway line to the east and Crawhall Rd and Stoddart si to Ihe wesl) by all or any of the following means". i. the preseNation of bjildings and sites of histor or arthllectal imF#Jtsnce li. the creation of tralning and employrnenl oppnitieS by the w0visi of workspace, Lmjildings. andlor land for use on favourable temis iii. Ihe maintenance, improvem8nt or provksion of public anieni iv. the protection and conservation of Ihe environment v, the advancemenl of education. training or relraining, pafftulaty among unenWoye(I peopkn. and providing unernployed people with work experience vi. the provtsion of housing for those who are in C(Y.0nS of red and the improvement ol housiThJ in tho public sector or in charitable ownership provtded trt such power not exterKJ lo relieving any local authorities or olher statutory bodies of a stslutory duty provide or im[0Ve housing vii. the PFovision of reCreatn facilities for the public at large or lkne by asOn ol th8ir youth, age, infimiity or disablement. p)vety or social and ecorn)mic circumslances. have need of suth facilities viii. thè promotion ol wblic safety and Ihe prevenllon ol cTlme ix_ the relief of poverty x. the reliet of unemploymenl xi. for sh other charitable purrM)ses as t1 Twslees in their absolutB dislI0n see fit from tirne lo time Values: 118lm51o undertske a wide range of 8ctivrts that delv¥er these objects based M strr>ng organisational values: Collaborative AcGounlable Innovative Bold Resprectful Focus of our work.. The Trust works closely with an extensive range of stakeholders. including Newcastle City Coundl, to regenerat@ this historic pari of eenlral Newcastle wilh the inlention of creating a dlveise aThl economically successful 'urban village thal has a strong emphasis on the arts and creativ8 industry sectors. The Trust has a comprehenslve propety portfolio of ils own that generates income for the Trusl, in additi it underlakes a number of community facing actsvitie5 ihat SUPPOrt increased convnunty engagement al participalion.
OUSEBURN TRUST TRUSTEES. REPORT IINCLUDING DIRECTORS. REPORTI (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Publlc bonofft: The Iruslees have paid due regard to wdance issued ty the Charity CommissM)n in deciding wh21 activities the chatity should undertake. Public benefit is achieved by undert8kiTrJ 8 wide f8nge of adivit8. During the18St year Tru81 has been involved in: 061iv8rlng 8 189& progr8mme. drawiTYJ Ihe Trusl's assets such as archive materials, oral lrystories, votunteerirrfJ, Victoria Tunnel Iwrs. pubkations, heritage walks & tslks. Maximising the IsebUrn Trusfs inlelthlLFal and physical assets in or(ler lo create a viable and suslainable organisatson. Encourdgin9 enterprise and SupwY"n9 enlrepreneurial behaviw inlemally and externally lo improve the business and arts cluster tIl is emerging within t1 Ousetyjm Valley. . Increasing the amount of communty participalbon arnj InfluencxrKJ the kK81 regen8ration proc85S through more active voljjnleering and berter quality participation in the local govemance process. The purpose belng to increase lh& amounl of social and enOMiC capilal gen8raled in the Ousebum Valley. - Provlding inlom)ation and resourcAs the k)cal community. - Acting a8 a trusted intermediary WKI of advice people wantsvJ to find out more about the area and working with others l(1 incrèase the nbar of ¥isIt$ and 8eNices to those who want to visit tho valley. - Simultaneously it has worked to mainlain effecttve int8mal govemance and internal efficiencies thTr)ugh a process tjf conlinuous Improvement. Achlevements and perfofmance Significant aclivities The Ousebum Trvsl focuses on the unique built and social heritage of Newcastle's Lowor Ousebum Valley. and more recontly has extended Ihat Iws lo the natural heritage ol the place. This is a designated con5eNation area with a long and varied hislory and is particu18rly noted as being integral to Ihe story of Tyi)eside's Induslfial past. Our adivity is a mix of income generating aclivity from our tenancies and wblic facing activity. and our rde as shaper and inlluencer of the sensitsve regeneration of place we seek lo protect and celebrate. Through engagement with people who live. and SWKI their leisure lime in the Ousebum we seek to shape the future through the lollowing themes: Planning and Development. ihe Natural Environment. Transport and Heri18ge. Posilive enhancemenls to the area in terms of the influence C>n new developnntS, 81ree.1scq)e Wnprovements, and pathways and green space are snIficant and our reWrtaIM as 8 credible force of good for the V8lley has 9rown, re&ts'n9 in stsonger relationships wilh stakehderS. W8 remain driven by a clear d8sire th81 herilage aciivities in Ihe 8r68 should bg used as part of an over-arching stralogy to maintain what has become a thnvlng eentré lor ltural activity in Neweastlo Tyne. Our herilage-focused actlvilies IlUde bringing al-nsk historic bulldlngs back Into long-18rm ¢ommunity and commercial use Ihrough carefulty considered redevelopment wÉlh clear communily benefil. Thls ensures Ihal the historic aesthetic of the conseNation area is mainlained. vthilst preventing inappropriate changes to ils inimitable atmosphere and tharacler. Key aspects of our social heritage res(MJrce are our incredibty rich ptcJffaphic and or81 history archlves. These comprise a collection 0160,000 images taken by Davey Pearson. ten albums ol images taken by Richard 81osse. 3.OUO images tsken by the Twst and over frfty )UrS of inlerview Tecordings. We endeavour lo fftaintsin, expand and inlerprot those valuable assets. largely through the efforts of our hentsge volunteers and heritage research volunteers, and we have begun lo deliver themed exhibilims in bocal venues lo promote our wo
OUSEBURN TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 8ack to nomial While the hcreased cost of livirvJ of recent years has Illed off thls year, demand lor lours, w0Spa and workshop activity has fallen short of our projectmxts during th6 winter of 202415. This nmrrored the downtum in spend experienced k)cally by the retail and hospitakty se¢lor though il has recovered considerably in Ihe Spring sugg8sling thal it could be a wider trendla delayed reaction to Ihe rising cost of f(Kxl al energy in partlar in recent years. Despite Ihis and thanks to better weather, Ihe F8sltval was once more a success ar helped raise the profde ol the Tnjst as an organisalh)n c4Jmmitted to delivering an ongawg event conwmunity. To complele the conversion of 51 Lime Stieet. we used s(Yne of our reserves to ensure the space cOd d81iver on our ambilion. resulling in a small loss this year. What we have in return though is a fac6111y that ha5 lh8 capaclty to diversify our income as well as deliver me opportunlties for enga9ing people in our wort(. Projects: 51 Limo Str•91 We moved in to 51 Lime Street at the begirfftrr¥J of summer 2024 and laUhEd a valty of inlerim aclivity Such 89 Pop-ups and workshops to Showcase the space. We remain kèen to attract more tenants for th8 Mezzani floor and the ctsworkfft9 ground floor and bookiS for a variely of wmmur4ty uses in the atrium. Wè have delivered 2 exhibitions this yèar which visltors have enjoyed and tOW8fd the end of the year launched our shop showcasing Ihé work of a number of local artts. 8efv4oen tours. workers and stpPerS the place is developing a real buu. Heritago Our Heritage prograffrfne continued to $90 SUCC8SS thrcwut this year. (he key are8 has been the signrficant expansion of our volunteeriryJ team. a5 we supported a hu9e cohort of new Heritage Research volunteers to help create a knowledge library, doeument forgotten stories and help us find ways lo share Ihern th the publiG. Over 70 have registered interest belween Apnl and Decemter this year. and they have explored a range ol t0CS, including: WWII in OusÈburn. wcfking ccditIOnS for wom8n in the irKJustrial revolutK¢n, the free party and rave scene in th8 1990s, the history ol Ousebum Farm, memories from Ouseburn School. and the changing nalure of Childh()d in the Valley over tsme. We also SUPFK)rted 5 slLKlenl placemenls as part of this cohort. from both Northurnbria and NewKastle University. We have also Introduc a new Support role for the Victoria Tunnel, allowing us to significanlly increase our Fxwl of volunteers and provide extra assistance for guides leading tour5. Flnally, we have SUPPK)rted another new Gohort, Exhibilion Research volunle8T5, to produce our fitst exhibition, Uses and Abuses,. The Ousetjurn Rlver, in 51 Llme Streel's atrium space. The exhibilhjn was funded by the Reece Foundation as part of the Ouse Bum Way fund. we we eTrJrmou51y proud of what our volunteers have managed lo achieve. We are excited fw the opportunities to delve into dtherent sides of the area's heTilage ID future exhibilions. In addilion lo our regul Vthria Tunnel Guides. B8ck io the Futuie Guides and Brewery Tour Guides. Ihis represenls hundreds of hour5 of voluntggring Ihrough¢yJt the year. We want to gNe a heartfelt thanks to all who h8ve generously donated their timo to support ihe hentage prograrnme in 2024 and 2025. Heritage Open Days look place between the 6th-151h of September. In additi to our popular Victoria Tunn81 Taster Tours, this year we were successful in our aptAication to be part ol the National Twsl's New Wave scheme.. a youth engagemenl project that takes a small cohort of festival organisers through structured training focused on workirva with young adulis to develop new. innovalive Heritsge Open Days events. We received a small pot ol funding to enable us to co-prodvce an event with 18-25 year okls. and worked with a young artist named Amy Jowett to deslgn 'From Mo to You and Back Again". a stamp colleding walk inspired by imagery froTh the photography archives. We have had knvo further external IwKJed this year. In September 2024. the Pilgrim Trust funded an investsgalive archeok)gical survey of the Ificloria Tunn&l lo dgtermffie whether the Ofiginal railway fixings are slbll there. The survey idenknfied parallel metallic Irends through the tunnel consistenl with whal would be expecled for exlafii rail tracks. We aro l¢)oking inlo what the next 5tep5 might be lo expose Ihe tracks ar revilalise the tours - in the fvst instance. this will includo funding a lesl pil excavation sur¥ey with the pe[mirAK ol Histonc England.
OUSEBURN TRUST TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 In hAarch 2025, we were awarded a ScopiNJ Grant from the Nal1cMl Archives - Itds will see an Arthivist Visit us on site in Juty 2025 to go Ihrough CAJT t*bOtographic and oral hislory materials arKi give us practical advice as to nexl steps for slorage. accossibilily and longevity of our collection. We are pleased that the significance of the Trust's )81 "stY maienals has been reco9nised in this way. The Victoria Tunn81 has conlinued to Ilourish ihanks lo the passion and dedication of our brilliant team of volunteer Victoria Tunnel Guides this year ihey have hosted and dewgned multiple laster tour days. Christmas, and Hallowoen events. We posted an open c811 out for gigs this year and were overwhèlmed with over 200 responsas: this has allowed us to massivety diversify the programming of the Sounds of the Undergfound event series, with omedy gigs. spoken word and short plays featuring this year as well as our more usual musical performances. Vlciofia Tunnel vlsiior numbers were $lgnificanlly down Ihis year when compared lo 2023-24, at 12.6 thousand. However, this is in keeping with wider trÉnds in the sector armj retlècts cost ol livirvJ incfeases in the pasl few year5. WB will be continuiry to mwwlor nunknrs into next yew, The Herltage SulhGroup has been m Ptse this year for restructuring but be reluming in 2025 with Tnore of 3 focus on supportsng research aThJ developing links wth other heritage projects in the a8. We afe eurrently recnJiting a chaiT lor the group. Instead, Ihis year we have been working with a number of local Stakeholders an interest in Ballast Hills to 9alher opinions, thoughts, and objections lo the future of the site. Flnally, the Trust's rnllection of photography - c8plured by Richard Blosse and Davey Pearson - wero featUd in Ihe Slepney Vveslern exhibilion al Newcaslle Conlemporary Art Gallery in March 2025, alongside photographs from the Ambers ide's collections. TS was a fantast opwrtunily for Iho collectiS lo be viewed alorrJside regionally and nalionally important images, aThJ w8 hope lo C1K)e to d8vekJp engagement with the lectionS into next year. Envlronment We have had a very produc11 and varied year In Se1xn'S green spaees. Our fantastic grow of volunteers have consistenty wxjrted our regular Gfeen Team sessK)ns - keoping fooipalh$ acSSible, rpmoving litter. Caring for planted beds armj rnanaging shfubs and woodland. We have also welcomed a large number of business groups {many repeal visilorsl who have given a significant amount of lime. as well as equipment and funds, and with whom we have been able to promote the work ol the Twst and the Vallgy as a whole. We are aiming to grow our leam of lead volunteer5 10 iTreaSe our capacity. and to work more with health and wellbeing serviGes this year. Environment Group u)nlinues to meel seasonalty to shwe forMa.0D, discuss ¢ssues and ideas. and an for the future. We have g&)d representalion at these sessions. from k)cal residonts. businesses and Ofganisalions. wildlile 5pecialisls ar¥J regional bodies. Our oxternally funded projects have induded.. Newcastle's Nature Nefv40rks {DEFRAs Species Survival Fund} - wong wilh a range of local and regional partneis. we have carried out interventtons to irry)rovg local grassland and wo(MJland habilats. and to monitor change over time. Community Compostmg and Brownfield Gardening (Newcasde Building SOClY3 Communrty Fund) - erKJ8gin9 Wth local businesses lo tum Ioc811y produced waste inlo nutritits compost f(Y our planled beds, as well as creatirvJ new beds m collatM)ration with local resKJents. Next year we VAI continue work on woodland management. Improng the water¢rxJrse, waste management, signage & inlerprelallon and improvir4J spaces (such as Ballast Hills) for people and for 4Mldlife. The City Council are supporting us in Ihis work And are assisting us in reachiry an agreement M land management. We have established landscape managTrefit C£traCts bolh Upper arKI Lower Steenbergs Yard. We ccH)rdinalè activiti8s wilh resmjents, which provides extra resources, strenglhens relabonships. and allows us to conSer himl Ihvse doorstep spaces connect inlo the wider environment.
OUSEBURN TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 We have built valuable relati(shIpS with Tyne Rivorn Trust, Natural Hlstory sIety ol Northumbrla. Ouseburn Catchmenl Working Group. Northumbria Univepsity, Reece FndatiOn aThl Tyne Housing, as well as rnaintainin9 many local connectK)ns. We've worked Closely wilh Wild Intngue on Wild ous0M proiecl. bonefitling from the growing underslandlng of nature tn the area. adaptirrfJ management practices lo rBsped thls 8nd developiry new projects to proteci and enhance Ihe incredible diverstty that we have, Wild Roots Communty Garden is going from strength lo strength, with the site wo11 eslablished, a 9rowing number of volunteers and plans for forest schocA activitS and a crealfrve environmenlal reoythng prq'ect. We cA)nlinug 10 act as accountable b(tyJy for Ihem as they work lowafds charitable status. Property, Busln8ss & Enterprise: Following oui move to 51 Lime Street. we have let 55 knme Street to S(xa Sludso and rn0 recently18unched our own shop in 51. providlng a signlficant retail destination for shoppers of independent and locally produced goods. Xsile have moved on from Arth 6 at the end of the year, and we a in dis¢ussion with a new tenant looking lo move in very soon. We have continued lo manage commercial BrKI cc#nmunily tenants ¥Jentifying opportunities for improvements to the properti8s arKI investJn8nl in 86eurily, fire safety. and ongoi1 m8inlen8nce. Part of the rivorside walkway is owned by the Twst and 18 used extenslvely by visitors and resldents. It prcjvides 8 haven for wildlife. an opportunity to study the area from a ditferenl perspective and a traffic-free ioule le8ding from the heari of the valley towards th8 River Tyne. The car P8fk loss ol income has been adtressed throu inlroduclion of new sKJnage in thne with our new brand boosting income ovemtht. Incrna¥lng tho amount of communlty engagement and pJrtkipatlon: The Trust continues to provKle support lo Stepney Bank Slables by charging a reduced rent. which is designed to support their commitment to delivering 50¢ial value through their wotk. Tho trusl retains a reversIclary interest in the firsl and second flcrf)rs ol the Sl8enberg's property. this is occupied by tv Registered S¢xial Landords, Home Housing and Tyne Housiro AssociatKJn. vtho are only charged a pepperc(xn rent lor the 22 flats they OCCLPY. Ow websrte and sooal media thannds have bew revised together with our rebrand which has been very well received across the board. allowing us lo remain aclive and prominent in the comnwnity and to MmunICate our evolvlng offers prc4e¢ts, generate Corne. and effectively reach and target new more diverse audiences. Aetlng as a soureè for quality infomiatlon and advlco: MovirKJ our oflice and tunnel tour base to a more wbllc facing prew15es has enabled the TNsl to perlomi fftore effeclively as a Iwation for providing local infofmabon and reSoLK. and Ihe theMerOUPs with a trus on Planning and CIBvelopmenl and Transpcyt in p8rticular. operate a forum wilhin which 0 community ol inler8$t C8n engdge in key topics and innuence wts'cy. We have used the website to raise money for crowdfunding schemes. and for adding value lo consultab'ons we conducl in person, working with Icral attraclbns to help shape it into a resowce for driving trafSc to the nght place for visitors so they can acquire the 1nform8ts.on they require more eaSy. Our Ouseburn Valley e-New5 pubficalion continues lo ad as an imF#)rtanl source of iFrformation about what is happening in and around the Ousebum Valley. We coukl nol do what we do without Ihe dodicaled help and support of our volunteers. for whom we arp fjxtremety gfateful.
OUSEBURN TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Achlevement and perfornianc6 The financial position for the year shows a deficit the ye¥ 01 £14.970 (2024. Surplus £122,365) includlng income and expenditure in Tespect of restricted fiJfKls. The TTUStees consider the ffinaal posrtK)n to be sati51actory. The 808n1 remains wglI1 and dosely MoThS financial perf0mnCe and oper8tKJnal actsvty on a regular ba8iS through 6 bi monthly Boaid meeting5 and 4 Financ4 Group meetings. Flnanclal review Principal lundlng sourcos How fiftan has helped to deliver the ¢hanlable o'ects: The Tw$t relies on a mlx of Income lo dellver its obfrectsves. This comes from Pfopgrty rt Imis, projects it manages, and granl ftjndlng sUprrt. The Trust is proud to no longer be lIant on 9rant funding bul makes applications lo launth new initiatives or athj value to existw work. ReseThes policy The charily held at the end ol the peri(X £1,553,090 (2024.. £1,568.060) in reser4*es of which £35,727 (2024.- £7.505) was in re5PeCt of restricted lunds and £l,517.363 (2024.. £1.560,555l in respect of unre5trided funds. Unreslricted funds Mdude the buildings atThl property the charty owns in the OUsetM area. At tho year-end. thè properties were valued at £1.863,524 {2024: £1.812.950). excluding depreaation. Free reSee$, excluding res6Nes used for fixed assèts, designated or restricted Pufposes amounted lo a deficit of £22.91912024 , surplus £57.908) at Ihe end of Ihe year. Golng concern As at 31st M8rch 2025 the charity has a Sufplus of assets of £1,517.363. The deficit pOS"0n of free reseNes at the year end was as a result of large investment cauied out. lch since Ihe completion the charity is starting on reUpIng this deficit. Based upon these faclc¥5, the Iruslees cons#Jer it appropriate lo prepare the acGoEJnts on the going CoM basis. structure, governance arKI management The company was incorporated on 18 Janvary 1996. it is limited by guarantee and is govemed by its memorandum and articles of ass(Kialion. wtwth were revised on 7 July 2011. The oL)mpany is a Regislered Charity - number 1081657.11 oblained Charilable slalu8 on 20 Jlty 2CIXI. The Trust concluded its independent revlew of ils governan whith was ratsfied al the AGM in July, 2022, adopting new artleS which introduced a maXinM lomi of office for Iwstees of 9 y8ar8'. This rnht then explain to some degree the followirKJ list contain9 quile a fow roswwtions. The Irust89s. who are akn the dlrectors for the wrpo86 of company law. and who served durlng th& year and up to the dale of slgnature of the fin8nclal statements were.. Dr M Giesen (Restgned 18 Juty 2024) Mr D Cross (Resigned 18 July 2024> Mr J D Bolland Mrs S Bright MrA Slack Mr P Murphy Mr D Knight MSA M Graham Ms K Parkins Mr S M Dexler Mr C C Dancer (Resigned 11 Feary 2025) (Appoinled 18 July 20241 (lpOinted 18 July 20241
OUSEBURN TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Ro¢ruitmonl and appolntm•nl of now trust•ès Dlreclors are appointed at the Annual General Meeling. Directors may also bè ctropted by the Board In which case they are required to stand for election at the next Annual General Meeting. Organisational stwclur• The tharity is managed by a committee ol up 10 12 trustees drawn from wllhin the Trusf5 mernbef5hip. Dlrectors retire by rotation on a Ihree•ye8r basis. The Board ts responsible for overall stralegy and policy, organisalional health and management of fisk. It meets bi-monthly and assesses adu81 perforrnaT &Jainsl forKasl. Since CvergenCe with Ouseburn Futures in 2017. Ihe governance structure hes been altered to operato In addition to the Board Ihrough suwroups with thematic f(xusas Ctt as PlannirKJ and Development, Environmenl and Transport and Hefilag8. Membership of the Sub-groups is c() to any Board mertw. residenL anployee of the Valley or anyone wrth an nterest in place. Those with specific interests 8re encouraged lo parbW810. These groups provide an opportunity fLY people wilh spec4alist skills or experErts to INJ the TtusL Induction and tralnlng of new trustees New Trustees Underke a formal indUCn vh)en they are apwlnted. Thèy are provid8d with a role description. Charities comm10n disclaimer afKI regstrab'on dfKumenls. a ¢pY of Ihe lalesl accounis and the up to dale rinancial p06ition ol tho Trust. tho late31 annual repx)rt the risk regi5t8T. details of the history of the Trust and a list of the property owned by the Trusl. They are also shown a map of the area. a meetings schedule, and also one lo one meeting$ are held wilh the Trust manager, Chair and head of internal sub group. A pack is given containin9 Trust policies and procedures aThJ a fcThiard business plan. TV way questK)ns are encourdged. Slatemont of trustéès. r•sponsibiliti•s The truslees. who 8re also the directors of Ousebum Trust lor the purFrf)se of company law. are responsible lor preparing the Trustees. Report and the financial statements In accordance wilh applicable law and United Kingdorn AcGounling Standards <Unlt8d KirKJdom Genèrally Accepted Accounting Price). Auditor In accordan¢e wlh the compan¥s articles, a resolUtn propostng that Robson LaKller Acc4)untants Limited be reappointed as auditor of the company will be pul al a General Meetsng. Dlselosure of Inforniatlon to audltor Each of the Iruslees ha5 wnfirmed thal there 1$ no information of which they are aware which is Televant lo the audil. but of which the auditor is unaware. Th8y have further confirmed that th8y have taken appropriate sleps to identtfy such relevant information and lo establish Ihal the auditor is aware of such infomiatK)n, The ITustees' report was aFvoved by Ihe Bowd of Trustees. MrA Slack Trustee Date..
OUSEBURN TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OUSEBURN TRUST Oplnlon Wè have audited the financial slalemenls of Ousebum Tru 'tharity') f the year pnd8d 31 Marth 2025 which comprise the statement of finarKial activities, the balance sheet aThJ notes to the financial siatemffils. including significant accounting policies. The financhgl repoitr'ng framework Ihat has been applied in their preparation is applicable law and United Kingdom Accounling Standards. including Financial Reportin9 Slandard 102 rhe Financial Reporting St8ndarf applicable in the UK and Republic of Ire18nd (United Kingdom Generally Accepied Accounting Practice). In our opinion, the financial statement3: give a true falr view ol the Slate of the charitable CoMpY'S affairs as at 31 March 2D25 and of ils incoming resources aKI aFvlicattyJn ot resources, induding its Iorne and expgrKlilur8, lor th8 year then ended; have been Fyoperly prepared in accordance ith United Kirwom Generally Accepted Accounting Praeli. 8nd have been prepared kn aCCdenCe with the rewif)ents ol Ihe Companies Ad 2006. Basis for oplnlon We conducled our audit In accordance with Intematknnal slalards on Audiliru (UK) (ISAS (UK)) and applicable law. Our responsibilities under Ihose standards are furthèr descnbed in the Audltorfs reSp'billI•8s for lh& audit ol the financial staten7ents section of our report. We are independent of the charity In accordan wlth the 8lhiGal requirements Ihal are relovant to our audil of the financial statement5 in UK. induding the FRC'S Elhical Standard, and we have lulfilled our other elhical r8sponsibililies in accordance wlh these rpquirement8. We believe that the audit evidence we have obtained is suificient appropnate to wowde a b8sis for (xjr opnion. Conclu$lon$ relallng to golng GonGem In auditing the financial slalements. we have conduded tt)at Ihe trustees. use of the wing concem basis ol accounting in the preparation of the financial ststements is 8prwfiaie. Based on tho work havo perf0Ml. we hav8 not identifigd any material uncrtainties relating to even or tondltions that, individually or collectively, may cast Slgnrf1nt doubt on th8 tharity's ability to rA)ntinue as a going concern lor a peri of at leasl twelve rr{h$ from wn the financial $1818m8nls are aulhorisod for issue. Our re5ponsibilib.es and the reskwsibililies of Itee5 Tespect to going concem are described In Ihe relevant sections of Ihi3 rep(¥t. other Inforn?atlon The other information comptises the infom)alK*) #)dLKled in Ihe annual report other Ihan the finala1 slalemgnts and our auditorfs Teport Ihereon. The truslees are resp)nsible for the other information conlained wilhin ihe annual Teport. Our opinton on the financial statements does not cover Ihe other information and. excepl to the exienl 01hepl8e explicitly staled in our reprt. we do nol express any fom of assurance condusion Ihereon. Our responsibilily is lo ad the other informaln and. in doing so. consider whether the other infonnalion is materially inconsistent with the financial statements or our knowledge obtained ift the course of ihe audit, or olhernise appoars lo be materially mi55tated. If we Klenlfy such matenal inconsi51encies apparent material misstatemenls. we are required to detemiine whelh8T this gives rise to a material misstatemenl in lh8 financial statements themselves. If. b8sèd on Ihe woth we have perfcrnd. we conclude Ihat Ihero is a malefial misslatement of Ihis Other infoTmabon, we are required to report thal lacl. We have nothing to rept in this regard. Opinions othor mattors prescribed by the Companies Act 2006 In our opinion. based on Ihe work urKJertaken in th8 course of our audiL' the information given in the truslees, report for the financial year for which the financial statem8nt5 are prepared. whicli includes Ihe directors. report Frywed for the purposes of company law. is Corls1enft wilh tho rinancial statements: 8nd the directors. rewrt included within the trustees. reFKXt has been prepared in accordance wilh applicable leg81 requirements.
OUSEBURN TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF OUSEBURN TRUST Matt•rs on whlch wo are requlred to report by exception In (he light of the knowledge and understandin9 of the tharity its environmenl obtained in Ihe COLwse of the aLKIIt, we have not entified material misststements in the directors. reFx)rt induded within the Irustees. report. We have nothing to report in respect of th8 following matters in relatK)n to whiGh the Companles Act 2006 requires us to report to you if. in our opinion: adequate OUntIng records hove rM)I been kept. or retums adequale our audrt have nol been received from branch95 not visited by us,. or th8 financial statements are Tr)t in agreement vrith the account)g records arKJ returns: or ortain disdr)sures of Irustees. retrnerab"0n specified by18W are made: or have nol rgceived all the InfCrfmatn arKI eXnationS we require for Our audit- or Ihe iruslees were not enlitled to wepare the financial slalements in accordance wilh Ihe small cornpanies regime and take advantage of the small companies, exemptions in preparin9 Ihe truslees, report and trorn the requirement to prepare a strategic rewjrt. Responslbllltles of trustees As explained more fully in the stalerrrnt of trustees. reswsibilities. tho trnstees, who are also the direclors of Ihe charity for the purws8 of company law, are responsible for the prepara1n of the financial stal8monts and for being satisfied that they gove a true 8nd fair view. and for suth inlemal conlrol as the trusteos detormine is necessary to en8ble the preparation of fin8ncial statements that are free from matetial misstatement, whether due to fraud or error. In preparing the finala1 statements, the Irustees are responsible lor assessing the charity's 8bllity lo continue as a g)ing con¢0rn. disclosing. as applicable, matters related lo going cOncM and using the going concern basis ol accounling unless Ihe trustees either intend to &widate the chatilab18 company or to C8ase operations. or have no realistic altemalive but to do so. Audltoes responslbilities for the audit ol the financlal slatements Our objectives are lo obtain reasonable assurarte atx)ul vthether the finandal statements as a whole are free from material misstalement. whelhèr due to fraud or error. and lo issue an audilorfs report that includes our opinion. Reasonable assurance is a h#Jh level ol asslwarR but is not a guaranlee that an audit conducted in accordance wtlh ISAS (UK) will always detect a matenal misslatement when il e515. Misslatemenls can arise from fraud or error and 8fe considered mat8fial rf, indivUallY or in Ihe aggregato. they could reasonabty be exp8Cted lo influence the economic decisions of usefs ten on Ihe basis of these lInaa81 ststements. IrrUlariti8S. including fraud. are Instances of -¢(%pIlanco wlh lavts and regulations. We design procedures In line wllh our r8sponsibililies. outlined above, to detect material misstatements in resped of irregularitios, including Iraud. The exienl to which our pr(Kedure5 are ¢¥)able of delectirvJ irregularitie5. Induding fraud is delailod below.. The risk of material misstslement due to effor or fraud is deemed to be low wlhin the entity as the charity operate strong inlemal controls to milat0 any such risk. These conlro15 ar8 reviewed as part of the audil by perforniiTrg systems walklhroughs to ensure they are operating effectively. Other subst8ntive tesling is pÉIrf0rnd on all material balances and therefore any instances of Ip118nCe sPthikl be Mlentified or considered as in6wJnifirAnl. A further desCri10n of our responsibilities is available on the Financial R8POrting Cwnal'5 website at: htty)s:11 vAv.frc.org.uklauditorsresponsibilities. This descfiptlon lomis part of our audilorfs rewl. Use of our report This rep¢Jrt is niade sdely to the Gharitsble cory)anrfs members, as a LKKIY. in aCtdance with Chapter 3 of Part 16 of the Companies Act 2(NJ6. Our audit w¢Jrk has been undertaken 50 th31 we might state to the charllatle company"5 members those matters are fequirÉd to stste to Ihem in an auditor's report and for no other pUose. To the fullest exlenl permitted by law. we do not accept or assun responsibilty to anyor)e olher than the charitable company and the chantable CA)mpany's members as a body. lor our audil w(Yk, for this repcrtt. or for the opinions we have formed.
OUSEBURN TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF OUSEBURN TRUST Michael T Moran BA FCA Isenlor Statutory Audltorl for and on behalf of Robson LaldlerAceountants Llmlted 2J?f" Statutory Audltor FeTnwood House Fernwood Road Jgsmond New¢aslJe upon Tyn8 Tyne and Wear England NE2 1TJ 10-
OUSEBURN TRUST STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Current financial year Unrostrfcted fund• 2025 Restricted fund8 2025 Totsl Total 2025 2024 Notes Incom• from: Donalions and legacies Charilable activit*8 Other trading 8clivities Investmenls 16.136 81.955 98,091 946 305,156 51,433 664 274,291 1,179 305,156 Total Irbcome 322.698 81,955 404,653 327.567 ExndItUre on: Raising lunds Charitable 8ctivib.es Olher expendilure 13.487 352.403 13.487 406.136 8,505 344,620 844 53.733 13 Total exwndlture 365.890 53.733 419.623 353.969 Net gainsl(losse6} on investments 14 148,767 Not Incomollexpendlturp) (43.192) (14.970) 122.365 Net movemenl in funds 10 {43.192) 28.222 (14.970) 122.365 Reconciliation of funds: Fund balances ai 1 April 2024 1.560,555 7.505 1.568,060 1,445,695 Fund balan¢¢$ at 31 March 2025 1,517.363 35.727 1,553.0 1.568.060 The statement ol financia activities includes all gains losses recognOd in the year. All income and expenditure derlve from continuing acliviti8S. The statement of financial tIvIti0$ a150 conwies the requirements for an incoTh and expermjiture account under the Companie6 Act 2006. 11
OUSEBURN TRUST STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Prlor fln8nclal year Unrostricted funds 2024 Restricted funds 2024 Total 2024 Incomè from: Donations and lègacies Charitable aclivittes Othèr trading activilies Inv8Stm8nts 15.76S 35.668 51,433 664 274.291 1,179 274,291 1,179 TOL71 Incon 291.899 35.668 327.567 Expendlture on: Raising funds Charitable acliviti8S Olher expendilure 8,505 290.170 8.505 344.620 844 54.450 13 Totsl expendlture 299.519 54.450 353.969 Net gainsl(loss8s) on investments 14 148.767 148,767 N¥t Incomollexp8ndftur• 141,147 (18.782) 122.365 Transfers betwean funds 5,840 (5.840) Nel movement in fund8 10 146.987 (24,622) 122,365 Raronciliation of funds: Fund balances at 1 April 2023 1,413.568 32.127 1,445,695 Fund balanc88 •t 31 March 2024 1,560.555 1.568,060 12-
OUSEBURN TRUST BALANCE SHEET ASAT31 MARCH 2025 2025 2024 Notos Fixed a850ts T8ngible assets Inveslment propety 16 17 838.791 995,000 807.894 995,000 1,833,791 1.802.894 Curr•nt assets Stocks Debtors Cash al bank and tn ha1 18 19 1.159 47.834 52,176 1,455 20,967 91.159 101.169 113,581 Credltors: amounts falling duo within one year 21 167,918) (55.368) Nét current assets 33,251 58,213 Tolal assets less ¢urr•nt Ilablllt1•8 1.867.042 1,861,107 Credilors.. amounts falllng duo after moro than one year (313.952) (293.1147) Net assets 1.553.090 1,568,060 The funds of tho charlty Restricted income funds Unrestrid¢d funds 24 25 3S.727 1,517.363 7.505 1,560.555 1.553.090 1,568,060 The financial statements were apprOvj by the trustees on ......................... MrA Slack Trustee Company regrslralion nun*)er 03147853 (En9land and Wales) 13-
OUSEBURN TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcies Ch8rlty Inforniallon Quseburn Trust is a private company limlted by guarantee incorp(ate(l in EnglarKJ and Wales. The registered offi'ce is 51 Lime Street. Ouset)wn Valley. NewG4stte upon Tyne, Tyne and Wear, NE12PQ. 1.1 AKounling convontivn The financial ¥tatements have been prepared in accordance wth the charivs artld&s of association, the Companies Ad 2fJ)6, FRS 102 Yhe Financial RertIng Standard applicable in Ihe UK and Republic of Ireland- I'FRS 102,1 and the CharrtS SORP 'AcGountv aTKI Reporting by Chantses: Slalemenl ol Recommended Praclice apF4icat4e to chaftties weparing thr accounts in acc(dance with the Financtal Reporting Standard applicable in Ihe UK and Republic of Ireland (FRS 102). (effective 1 January 2019). Tho charity is a Public Benefit Entity as defined by FRS 102. The Gharity has 18ken advantage of prDvisions in the SORP for charities not to prepare a statnent of C8sh Flows. The financial statements are prepared in sterliThJ. is the lunctional cuffency of the charity. Monetary amouTrls In these financial stalemenls aro routh to th8 naaresl £. The financial statements have been prepared under the historical cost convenlK)n, modified to include the revaluation of freehold properties and to include inveslm8nt prDperti8s and cartain financial instfwnents at fair Valug. The principal accounting pth"¢ies adoplod are set out below. Ouseburn Trust meets the definilxjn of a public benefit entity entry WKJer FRS 102. Assets and liabilitie$ are inithally recognised at historical cosl or tran&xtion value unless otherwise staled in the r8levant accounting policy nolds). 1.2 Golng concèrn At the b.me of apprOvg the financial slatements. the Itustees have a reasonable expectalion that the charity has adequate resoufces lo continue in operatKmal existance for the foreseeable fulure. Thus th8 IrLLStè8S conlinue lo adopt the going conwn basis of acrAxJnling in preparing Ihe financial Statements. 1.3 Charltable lund8 Unrestricted funds are available for use at the discretK)n ol the trnstees in furtherance of their charitable objectives. Restricled funds are subject specillc c<yditions by donofs or 9rarth as lo how Ihey may be used. The purposes aThJ uses of the restricted furKIs are set ¢)ut in the noles to the financial statements. Endowmenl funds are 8ul4o¢t lo ¥ifiC ldi110n8 by donors that the c8Pital must be mainlained by the ¢h8rity- 1.4 Ineome Income is recognised vthen the charity is iegaty entilled to it after any performan condition5 have been met: the amounts can be measured reliabty. and it is probable that income will b@ received. Cash dOnati(S are recc3nised on receipt. Other donations ara recognised once the charity has been notified of tt)e donation, unless performance GonditN)ns require defeal of the amunt. Incr)rne tsx recoverable in relation lo donations recewed under Gift AMJ or deeds of covenanl is ffjcognised at Ihe timo of tho dor¥ation. Legacies are reco9nised on receipt or otherwise rf ttle charity has been notified of an impending di5tribulion. the amount knowrb. and receipt is expeded. If the WKwnl is not krKJwn, tho IwJacy is tfeated as a contingonl asset. 14-
OUSEBURN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 AGGounting polici•8 (Continuod) 1.5 Expenditure Liabilities are rocognised as expendilure as sn as there is a legal or constfuclive obligation comrnitting the charity to that expenditure. il is probable Ihat a transfer ol wJrK)mic bonefils will be required in settloment and the amwnl of the obligation can be measured reliabty. Expendilure is atcounted for on an accruals bas15 and has been claSsifd under headings that aggregate all Gost related to the category. Where costs cannot be directly attnbuted to particular headiws they hav8 been alICl to acliwties on a basis consistent wilh the use of resources. AlloGalion and apportionm•nt of costs Costs allocateil to activities comprise those costs incwed wlith diredly relate to that activity, together with an appropriate propR)n of suppcKt Costs. 1.6 Tangibl• fixod •$8Ot8 Tanglble fixed assels are initially measUd at Cost and subsaquenlly measured al c1 ty valuation. net of drécla110n and any impairnient losses. Depreciatlon is rocognised so as to write off the ct (x valuatim of assets less Iheir resldual values over their useful lives on Ihe folh)wing ba5es'. Freehdd land and bulkjings Fixlures 8nd fillings 2% on Str8*3ht Line Basis 20% on Reducing Balancel 33% M StraWI Line The gain or arising on the disposal of an asset is determined as the drfferenco between the Sa proceeds and Ihe carrying value of th8 asseL a1 is fecogmsed in th8 statement financthl 8CtivilEs, 1.7 Inv•stm•nt property Freehold #ivestment properties are val1 on an cpen rnarkel valJatiM basis assumln9 vacant posses810ft. 1.8 Impalrment of flxed assets Al each reporting end date. the thaty reviews the carryg of ils tangible assets to deterrnlne whether there 15 any Indicat)n that those assets have suffered an impawment loss. If any such indrali exi5tS. the rgo)verabb amount of asset is estimated wi (thr lo delenrine the extenl of Ihe impairmènt 1058 (if any). 1.9 stocks Stock5, whith represent stocks of books relaliNJ to the Ous8lyJm Valley. are valued at Ihe bwer of cost and net realisable valua. 1.10 Cash and Gash gquivalents Cash and cash equivalenls include cash in hand, deposits held ai c311 with banks. othgr 5hort-tem) liquid inveslrnents with original mslurilies of three monlhs rx less, and bank overdrafts. Bank ov8rdfaft9 are shown within borrowings in cwrent li8ts'1its'es. 15-
OUSEBURN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounllng polic1•8 (Continued) 1.11 Flnancial in8trumonts The charity has elected lo apply the provisions of Sedion 11 'Basic Financral Instrumonts. and Section 12 'Other Finaneial Inslrumenls Issues, of FRS 102 of its fina181 inslrurrtnts. Financial inslruments are rec4yJnised in the charity's balance sheet when the charity becomès paty to the conlraetual prov1$kS of Ihe inslrument. Financial assels arnl liabiliies are offset with the net amounts presented in the financial stalemènts, when there is a legally enforceable fh1 to sel off the recognised amounts JKI there 15 an intents'on to settle on a nel basts or to realise the asset settle the liabilily simultaneously. Basic financial a55ets Basic financial assets. which indude debtors and cash arKI bank balances. are lnits.alty measured at tr8nsaction price includtng transaciim costs and are subsequenlty carried al amortised c051 using the effects've interest melh¢JJ unless the arrangement conslilutes a financ¢ng iransaclion, where the Iransaclion is measured 3t the present value of the fijlure receipts discounted at a met rate of int$1. Financial assets classified as receivable wtk¥n year are not arTrJrtised. 8aslc flnanclal Ilabllltles Basic financi81 liabilities, induding creditors and bank loans are initially recognised at transaction price unless arrangement constitutes a financing transaction, ¥rtre the debt instrument is measured al the present value of the future payments discounted at a mark8t rate of int8resL Financial liabilities classified as payable within C>ne year Ére not amortised. Debt inslruments subse¢wenUy carried at amortised cost, using lh8 8ff8clwe interest rale method. Trade creditS are obligalions to pay lor goods or sep118 ihal have been acquired in the ordinary course of operations from suppliers. Amounts payable are dasSif as currenl liabili1S if Payment is due within one year or less. If not. they are wesented as non-CUfTent Ibilrts. Trade creditors are recognised initially al transaction price ar¥J 8ubsequentty moasured at amorti58d cosl using the 8ffectiv8 interest method. Derecognltlon ol flnanclal Ilabllltles Financial liabilities are defecognised when the dwily's conlraciua cknlwJ8tM)ns expire or are discharged or cancelled, 1.12 Taxatlon As a charity. the company is exempl from tax income a1 gains to the extent that these are appled to its charttable objects. No lax char9es have arison in the tharily 1.13 Retirement benèflts Payments to defined contribution retirernenl benefil schemes are charged a5 an expense as they fall due. 1.14 Prgparation of consolidated finanG•al statpmgnts The financial slatements contain information about Ousebum Trusl as an individual company and do not contain wnsolKJaled financial infomalM)n as the parent ol a group. The company has taken Ihe option under Section 402 01 the Comp8nies Acl 2006 to prep8re consolidated finanual $18lemenls as the company's substdiaries are consbdereé to be immaterial. 1.1 S Deblors Trade deblofs are recognised at the settlement amount due after any trade discounl offered. Prepaymenls are valued at the amount prepaid after account of any traje discolS due. 16-
OUSEBURN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting poli¢i•s Icontlnued 1.16 Credllors and provlslons Creditors and provisions are recognisgd where chanty has a present obligation resulting from a past evenl that will probably restht in the transfer of funds to a third party aTrJ the amount due lo settlè tho obligation c8n be measured ry esllmated reliably. Credrtors and WS1On$ a ncrnlly recognised al their senlemenl amounl after albvltyng for any trade discounts due. Crltlc81 aeeountlnq estlmatos and ludgements In the application of the ch8TiVs accountirvJ policies. the truslees are required to make judgements, pslimates and assumptions about the carrylng amount of assets and liabilrties that are nol readdy appargnt from olher Sources. The estimates and associated assumptK)ns are based on historical experience and other fact(xs thal are nSIdered to be relevant. Acwal We$tS may differ frorn tss8 e$tMnates. The estKnales and urKlertying aSsUmptS are reviewed M an onrj basls. Revi$ltxs lo aCuntIng estimates are recognised in the pencrfl in which Ihe eslimale is revised where the revision affects lY thal period, or In the perKMI of the revisicx) and futwe tRrirxls *l)ere ts reWSk aftects both curreiil and fulure periods. Donatlons and legacles Unrèstrfeted Restrictod funds funds Total Unrestricted lunds Restricted lunds Total 2025 2025 2025 2024 2024 2024 DonatKtyns gffts Grants 8.136 8.136 89.955 15.765 15.765 35.668 81,955 35,668 16,136 81,955 98,091 15.765 35,668 51.433 Inc(HI from charltsble activllles Unreslrlcted Unrestrlcted funds funds 2025 2024 Income from Charilabl• 8¢tlvltl•s Other incc#n8 946 664 17-
OUSEBURN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from other tradlng actlvltles Unrostrictod Unrostrictod fundg fund¥ 2025 2024 Parking meter and surKJry income Sponsorshi)s VIGtoria Tunnel Museum R8ntal Inc 47,752 5.900 147.982 103.522 32,130 157.407 84.754 Other Irading 8Ctiwties 305.156 274,291 Incom• from Investments Unrostrict•d Unr•Btrict•d funds funds 2025 2024 Interest receivable 1,179 Expenditure on raislng funds Unreslrlcled Unrestrletèd funds funds 2025 2024 Tradlng costs Purchases Rental property repairs Support costs 1,109 2.079 10.299 8,505 13,487 8,505 18-
OUSEBURN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expondllur• on charllabl• adlvHI•8 Consgrvatio Consèrvatlo nand nand Herltage Herftage 2025 2024 Dlrect costs Oopreciation ar iThyairmpnt Insurance Light and heal Repairs and renewal8 Printing and stationery Pholocopier costs Direct charitable Gosts Sundries Bank ch8rg08 Events Caterlng Consultancy fees 24,564 8,811 6,237 3,108 6.215 1.131 24.121 14.764 9.382 32.725 1,138 26.766 29,366 7,562 13,670 4.882 2,585 1,672 28.294 9.148 9.737 32.266 1,327 158,962 140,509 Sharo of 8UPPOrt and governanc• costs {s8fj notg 9) Support Govern8nce 235.469 11.705 195,380 8.731 406,136 344,620 Analysis by fund Unrestricted funds ReslriGted fvnds 352,403 53,733 290,170 54,450 406.136 344.62Q 19-
OUSEBURN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support costs allocated to actlvltles 2025 2024 Staff costs Rates and water Repair 2nd renewals Training and conference Bank loan inter8St Subscription Governance costs 208.597 2.477 5.347 1.337 26,916 1.094 11,705 180.427 2,002 3,663 1,620 14,729 1.444 8.731 257,473 212,616 Analysed between: Fundraising Conservalion and Hwitage 10,299 247,174 8,505 204.111 257,473 212,616 2025 2024 Governaneo costs compr18•: Audit fees Legal and pYOfessiaI 4.398 7,307 4.123 4,608 11,705 8,731 10 Nat mov•ment In funds 2025 2024 The net movement in funds is ststed after thar{1%edllIng). Fees payabl8 for the audil of the tharity's fin8rKial ststements Depreciation ol owned tangible fixed asse15 Lojs on disposal of tangible fixed asse18 4,398 24.564 4,123 29,366 844 11 Trusl•8s None of the Irustees (or any pef50ns c(led Ihem received any remuneration or benefiis frorn the charity during the year. Trust6es' expenses Duting the year ended 31st March 2025 and 31st Marth 2024 rKb exper5 were reimbursed to the trustees ol the charity.
OUSEBURN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 12 Employoe$ The average monthty number of employees year was: 2025 Number 2024 Number Administration Charitable activits Total Employment costs 2025 2024 Wages and salaries Social security ¢osts Olher pension costs 184.679 11.503 12.415 157,580 9.188 13.659 208.597 180.427 Amounts paid lo key management persomel, induding enwloyers Nl and pension contrlbutlons. in the y88r tolalled £76.(K)5 (2024: £74.808} The number of employees whose arnual remuneration w8S nM)re th8n £60.000 18 fd)w3: 2025 Number 2024 Nurnber £60,001- £70,000 £70.001- £80,000 13 Other Total Unrestrictod funds 2025 2024 Nel loss on disposal of ta&)1e fixed assets 844 21
OUSEBURN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 14 Galns and loss•s on Investmonts Unrestricted Unrestricled funds funds 2025 2024 Galnsl(losses) arising on: Revahjation of investn*nt woperties 148.767 15 Taxatlon The chanly is exempt frcm laxalton on its acbvities because all ils income is appl for charitable purposes. 16 Tongiblo fix•d a¥$et¥ Frn•lwld hnd Flxlurns and and bulldlng fittln T•1 Cost Al 1 April 2024 Addltlons 817.950 50.574 72,978 4.888 89),928 55.462 At 31 March 2025 868,524 77.866 946.390 Depfeclatlon and lrnpalfment Al 1 April 2024 Depreciation charged wi the year 41.125 17,370 41.910 7.194 83.035 24.564 Al 31 March 2025 58.495 49.104 107.599 Carrylng amount At 31 March 2025 810.029 28.762 838.791 At 31 March 2024 776,82S 31.069 807.894 Froehokl property Was revalued by the Iruslees on an open market basis al 31 March 2017. The Iruslees took inkj accour)t ntaI yidds in the area in f(fftiing th81r valuat#)n. 17 Inveslmont property 2025 Fair valuo Al 1 AprS12024 and 31 March 2025 995,000 Subsequent improveThnl work undertaken on in¥estmenl wcoerty has been included at cost. The Lime Slreet Warehouse Flats reversM)nary interest ha5 been wKluded at a value of £1. The trust also owns a riverside walkway in the Lower Ousebum Valley for the enjoyment of the general public. This has nol been valued in the acwunts given difficullie5 in establishirvJ a market valLse, as is permittfjd by the SORP.
OUSEBURN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 Investment prowrty {Contlnuod 2025 2024 Freehold 995.000 a5,000 18 Slock$ 2025 2024 R8w malen8ls consumables 1.159 1.455 19 Debtors 2025 2024 Amount$ talllng due wlthln one year: Trade deblor$ Prepayments and accrued income 7.419 40,415 13,648 7,319 47,834 20.967 20 Loans and overdrnft¥ 2025 2024 Bank IDans 325,510 300,247 Payable wthin one year Payable after Me year 11,558 313,952 7.200 293.047 Loans amnting lo £293.510 (2024 '. £3LX).2471 are 8KuT8d by fflxed aThJ floats"rvJ chargas over $1, 53, 55 & 57 Lime Slreel. The is repayable over 10 yews and Inte$l is tharged at 3.8% per annum above the Bank of England Bank Rale. Other loans, under t Growth GuaranleB Scheme, are repayable over 6 yearn. 23-
OUSEBURN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 21 Creditors: amounts falling duo within on• y•ar 2025 2024 Notes Bank klans Olher taxation and social swity Trade creditors Accruals arKJ deferred Income 11.558 3.598 27,757 25,005 7.200 3.326 12.841 32.001 67,918 55.368 22 Creditors: amounts falllng due after nre than one year 2025 2024 Notes Bank loans 313,952 293,047 23 Rotlremont bonefit schemes 2025 2024 l)efined contrlbulion s¢heme5 Charge to profit or Soss in resped of derMd contribulim schemes 12,415 13,659 The charity operates a defined ContribulK pension scheme for all qualifying employees. The as5et5 of the scheme are hdd separatpty from ttK>se of the in lndeFvwJY administered fijnd. -24-
OUSEBURN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 24 Restrlcted funds The reslrtcted funds of the charily conyrise the unexpended b81ances of (knnations aid granls held on trusl subject lo specific conditions by donors as to how they may be used. Movem•nt in funds Incoming R•x)urce• rè5011rc oxp•nd•d 31 M•rth 2025 Balanc• at l April 2024 Ousebum Festival Greener Ousebum Proifjct Defibrillator Drive Wild Roots Fund ComFKJSting Fu1 National TTUSt Training Programme National Trust Herit89& Progr8mm8 Rivers Exhibition FUTr Energy Effidency Fund 3,D32 2,321 392 760 31,787 (20.2271 14,592 2.321 392 1.500 3.988 4.545 4.923 (3.805) (935) (1,000) (200) {800) 126,766) 39.700 12.934 7.505 81.955 153.733) 35,727 Restricted funds of the charity ar8 Separately idenlifieij on receipt and relate to SF)ecific Pfgeds for which funding was applied. Th8 lunds can lY be experthd on the speufic projects. A Wil of the resthctsd funds between separate projects can be Seen alx)ve. Ouseburn Festlval Fundlng awarded towards Ihe cosis of IK)Id1 a summer festival in (sebU. Grèen•r Ousébum Project Funding received towa5 woodland planters and jkeep ol the Vthd Roots Community G8fden. Deflbrlllator Drlv Funding towards defibrillatots on Lir1 StreeL ild Roo1¥ Fund Thls fundiNJ w8s Io Sup Wild Roots crmnIty Gwthn.
OUSEBURN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 24 Restrlctod funds Icontinvgd) Compostlng Fund Funding towards a new communty compM)sting Stati1 and IransfomHtion of 4 brownfiekj sites in the are8 for the benefit of wildlife and the community. Natlonal Trust Tralnlng Programme Funding received towards a tralning programme to deliver a wojeci with a group of 1&25 y8ar olds as part ol the Herilage Open Days Festival. National Truit Horitage Programmo Funding iowafds a heritage open Oay. Rlvern Exhlbltlon Fund Funding towards holding the River ExhibitN)n. Enorgy Efflcl•ncy Fund Funding to undertake a feasibility st to identrfy energy effKiency improvements. 25 Unr8strlclod funds The unrestricted lunds of the ClritY compw the unexper¥Jed balarKes of donations and grants whKh are not subject to specific conditions by donixs and granlors as to how Ihey may be use(l. These include d¢snated funds whith have been sel ade oul of unrestrKted funds by the trustees speriC purposes. At 1 April 2024 Incomlng Resources resource8 oxponded Transfers Galns and At 31 March 108808 2025 Capilal Reserve General Reserves 1,502,647 62.199 (24.564) 1,540,282 57,908 260.499 1341.326) (22,919> 1,560.565 322,698 1365,890) 1,517,363 Pr•vlou8 year: At l Aprll 2023 Incomlng resources Ro8ources expended Tran8f8rn Galns and At 31 March losses 2024 Capital Reserve Oevek)pmenl Reserve General Reserves 1263,171 (28.969 119,678 148,767 1.502,647 (50.(YJ)I 100.397 291.899 (270.5501 (63.8381 57,908 1.413,568 291.899 {299,5191 5,840 148,767 1.560,555
OUSEBURN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 26 Analy818 of n•t assets betwoon fvnds Unrestricted ftsnds 2025 Re8trf¢t•d funds 2025 Total 2025 Al 31 March 2025: Tangible assets Investment properties Current asset51{liabilities) Long tem) liabihties 836.315 995.000 2.476 838.791 995,000 33,251 (313.952) 33.251 (313,952) 1.517,363 35,727 1,553.090 Unre8trl¢tod funds 2024 Rèstrlcted funds 2024 Total 2024 At 31 March 2024: Tangibl8 assets Invostment prrjporlies Cuent assplsllliabilllies) Long term liabililies 807.894 995,CK 50,708 {293,0471 807.894 995,000 58,213 (293,0471 7.505 1.560.555 7.505 1.568.060 27 Related party transactlons There were no disclosable related pty transactK)ns durlrrfj the (2024 - none). 28 Legal 5talus of lh• trust The Trust 15 a company Ilmlted by guaranlee 8nd has no share Ggpital. In the event ol the charity being wound up, the liability In resp8d of tho gu8ranlee is lirnrted to £1 per mernber of the charty. -27-