C*anty regi8tratiM numbèr 1￿936 The Sir Tom Cowie Charitable Trust Annual Report and Financial Statements for the Year Ended 31 August 2020 The Sir Tom Cowie Charitable Trust Contents Relererte and AdMi￿StratiVe f*t Trustth8' R•port 2to5 Indep8ndent ￿ditOrs. Rewl 6t08 Statem￿1 cl Finxal Comparallw Statemwt cd Fina￿1 Acbvths 10 11 Notés to Iho FThncial Statements 12to24 The Sir Tom Cowle Charitable T￿￿t Reference and Administratlve Detsils Tru•t• MrDAGray Mr P R Buickott Prfnclp•l Olnc• Estate Office County Cwrham DH7 OTD h•rlty R•91￿•tIOn Numb•r 1098936 8ollcOtov• BHP L¥ Wegtgate HoLM• Faverdale D¥lington Co ￿Jrt￿M DL3 7RT 8ank•rn 8•rd•yi pk Nthv¢a$Je City 71 Grey Str88t Nth¥¢ogUe upm Ty NE1 OEF MHA Talt Waknr Audltor PJJlmw House R•gent Centre N￿￿¥￿e w)n Tyr E3 3LS The Slr Tom Cowle Charltable Trust Trustees. Report The truste￿ wesent the Tepyt *ith ts f￿￿%•1 glal•ff*nts 8ThJ aud*cn' report of tho arrty fci the ygar 31 A￿uSt 2020. Str￿￿rn. gov•rnanc• and Manag9m￿t Natur• olgov•mi"ng docum•nt The SIT Tom Cowie Charrtable T￿￿t is * rtgidued (wistered runb•r 10989361. The &￿eM￿9 doxment IB lh¢ Twgt Deed 21)th January 2CQ3. induthThJ tr* fo11r￿7n9 .Thern thall al ￿48t tnJ$tee8 4t 41 t￿e$, Thttt) 8hdl bB at IE8* 18 okl. .No tru¥lee thall require interest in property th8 d￿rIty. r•c•wa r•mLrnratiM from th• charity or be inter¢*ted wi *y ¢ontra¢l ent•r4d nlo ty the trustees. .Trust•e8 thall be to recei￿ PayTnert farth for.. .Prof•88ional charges wovid•d the t￿tffting tnAtee we8•nt * wy m••OrvJ al whlch h1• appobntment or r8munwation vras disoJss8d. •lnler•81 Mor￿ lent to the cttarlty yo¥thd IM k)t•roAt rato Trjt oxcoeAI 2% 1088 Ihat the tonk dè•rin9 rate. Rental incom• for pr•miae• * b) th• ¢h¥rity b•nttfth'ng trustee rnt pregont at ets'ng at whith Ihe ￿ale cff r•nt* payable *38 diKu88ed. .Reimbur8en*nt of reasonable of Frfxknt eyn808. 1rwxrr￿I k? Iheir capaaty ￿ a trust¢o. The trustees thall at loasl t4¥0 Lydinary meeb'n98 m ea¢* D￿lionS ère d8t8miined Ihe ma￿TIty ol vot•8 * rM*ing$. tf ro majtyty ra dettrrTh"r￿d Ihe I&￿1￿nan thall hav• the c4sb.ng ¥ot•. The Irustee8 al80 •ct 48 th• LYganl•ln9 commrtt•• dwity. The cttaiity does Ml anF4oy ￿Y cffje clrocyy. Th• btsard. b)gether wth tho dwfity aTh8pondent, run Ihe day kn day grwrt 4cthlti•s ¢Jwlty. A4 a there w• ￿ kty m¥r49￿￿1t pernmnel. Th6 trust888 have ￿ndUCts1 a reviv* c4 the m•Try ri•k• ty *toth tho c*arity 18 expo*d arKI the syst•ffl# have boen 68&￿lIahad to th0￿ ri8k8. The Sir Tom Cowie Charltable Trust Trustees. Report ObJ•ctlv6* Ind *ctivilieJ oblectives of Ihe charity ￿e th• for public benefft *ithin th• City of Sur*J¢dand J County Durham ty dl or rA the folknyry mwi$'. .The rel￿f cl p)v•ty ui $u¢h ¥wys a5 may be trwht fiL .The advancoment of eAJucath)n ￿ sith as moy tr* trwht fiL •The relYJf cl wemF4oymert in 8Lth way8 a8 may be thought fit. *Th• proviwon of a￿Stanc￿ In tha ryOViSbon of for those arp In condltlorA crf need aTrJ tha improvement of hou$irvJ, yovthd that suth ￿er$ 9hall rK+t ¥xt￿d to rElieviThJ kxal ￿thOrIllaS or cther todies of a statLrtory <￿ty to ryo¥ide c* Imkyovo f￿$1￿9. The man￿n￿e•, improvemwrt Cf wovisicffj of ￿1¢ am￿{￿05. .The ye8trvats.on cl Ixrildiws cf sites Lrf hist￿1 ty ar¢hit•dural ynp￿t￿. Th• provigion or as¥$l￿e In the prOvis￿n of refxealicK*l facilib.es for Ihe wblc at Farye andlor th who, by reason d their s*)th, old age. Infimilty c* a8￿18￿0n1. F*wety Cf 8od81 and •conomlc cArDJmstances, rth8•d $uth faclrtieJ. .The proledlon tr cons6rvatKJn rf tr* •nvtronm&rt. The pre8ervaticn and kyotsc*on frf l*alth. •The promotion of Wb4￿ safvty krev•nllon cl .Such dher a• m•y from Omo kn Im• I￿ wbia(* to ￿Or con•ent cl th• comn¥8sion8r8. Funth¥lslng dselo8u The Ch￿tY o required to report ri d￿1$ *4ih fvntr*i)g from tho wblia Th• ¢h•rlty ¢S)•s rot a ofessional fundraiw or ￿Mn￿all partiu'pator lo rai8e fiJnd8. Any rr4)The8 raised direcl from Ih• public foilm dl sèt art by Ch¥ity Ccthml¥￿On UK Iw ro8p#¢L We r•iFect Ihe [￿'vaCY conlwA pref•renc6s af wblic dLThr•. Publk bffi•frt Tho Charity ithndB to o)nlknuè kn b•rwfft cl &JndwlarKI WKI Courty ￿￿Orn arn•. The Charty D)ntinues to run its cwi I￿rte, V+V•W.sW.o).uk, lo 811 Ft¢lontial awicants are dir•cted to sotr rf Ihey meot the c¥tterta lor grants •KI. rf go. kn mako th•ir op￿1¢a￿'0n cfiline. The Trustees confirm that they thin ag m￿* m8 the ￿blIC ber*fft gUbja￿ wblished ty the Charity ComMi￿10n for &uland and Wa￿. Grantm•klngwiel•8 The c*arity invrtes wlications for fvndityj frvm I￿￿tu1￿$ kxatsd vlthln 118 of ber￿. The Iru8tees meet regularly to review ¥Al¢atiC￿5 wxl ¥pproY4e ￿ refijse grants. The Sir Tom Cowie Charitable Trust Trust88s' Report Th& follomng $ignfficarrt grants vwe aKarfed.. The Unrver$ity of &nderf•rKI 08¥Yk)pment Trust Futwos Fund- £20.IY)O.' Dame Ctirothy Primary School. S4JThJerfand - £11,208 inc￿di￿a a cl thier £10.0(Y) bM8rds the 4llerati¢)n8 01 tro c4d caretskerf8 into a comn•Jnty hjb: WINOW F￿ld8 Primary Schod, ￿ndertan￿ - £12.1￿ £10,000 tr*ards th• nO¢￿￿ry •4uipmerrt to create a librpry, ind￿ling b)e rrf bcok5' S¢hool M8it3 and ftw3ic projects in Sunderland. approxfftwtety £I0.OC(I, * ￿￿k1 b• notsd that tho prO￿¢t r•8tiicl•d. to ts Cov1￿19 oulbr••k. In re8F4)n88 1) COVIO-19 r4nd8mlc. th8 Trust￿ 4reed b) aet a￿de 1Th)n￿ to aB8i8t bcal communities and sthojls In re8F*tt af lh8 Issues thal aro80 c( the tsxkd￿ rn6tr1thns a)d a total ol £17,500 wa$ paid lo Ihe East Outh•m COMM￿lty C*veWnent Trust, D8vw•nt*'de Tru81 &ndefl8nd Communlty Soup Kltchon, fO￿$s8d ¢Jn tho of fcod par¢¢ls ki the k¢al c£4))munity. Whilsl a further £9,500 wa$ SF41t 8lx $c*ts￿8 h Sundwland vtho 4)plfièd for hdp in of Ihe The Trust ha8 aL80 math 8thYral smaN•r ¢*ythin• lo rygani•abw tr￿t th• Trustse8 ￿1￿¥8 f411 wilhln e wbllc b•n•fft ott•rta. Finally. vaiiou$ ¢omrribm•nts m•J8 n rew of othw VDjects thaL unfortunateiv, V•pre rKJl fijffilled during the accountwy Far. (kn kn Ihe cov1￿19 r•Jtri¢b'on$ it is trKTr￿d Ihal a number of the¥• *lll n￿¥* fop*ard in Iho 202W21 ￿1. Flnandal r•vl•w The financial Foeilion ft*r tw o d￿at IncrynlTrJ funds d £154,650 kncludlng ro1108888 investment a*sets d £72,671. Total funds ￿(￿rrt ID £5.488.491 as at 31 It 2020, of whith •ndcrMnent fijnds arn £5,457,461. and restrK*ed fur•J8 d £68. The truJtee$ tr)nsider the fin¥nca•l sltbon of I￿ dlarlty kn be 8ati8factory. Thg trustso¥ have c4)nwder•d th• finan¢lal P)81th￿ th• thigc4r*J in rel•tlon to the Covi&19 a)d c¢n¢lu*cn cl *tYk G¥ven the strorvJ ¢xsh Inv8gtmont ba￿, cL)nsider Ihat there xe ￿ materia unwtaKibes ats￿1 the thanty8 •ts11ty tr* o)ntinue as 4 901r￿ o)ncem. Th• truslees revv￿1 futyre corrdhler the omnt level of re•er¥a appw*te goneTrte 8uffia•nt Inc￿11￿5 exwn8eJ. Tru8ts88 may invest as they fiL ha¥iry r•wd for tr* llandwd Inve8kn￿ c¥iteria ￿ defined Section 4 of the Trustee Act 2000. The Sir Tom Cowle Charltable Trust Trustees. Report Stst•mfrnt of Tru¥l•H' R••POn￿bIlItlOI The trustees are ￿Spon￿￿e lor y•paring the trustees. repc*t the finanty￿ statements in acYnrdanc8 Tth the unit￿ ￿"ngdoM knjuniing Stsndards Iunitad ￿ngdoM G￿ty knpted knounts.ng Pr•¢*c*l •rKI wplcatjle J&¥ ￿ rrylalion8. The law *l¢at4e to thanlies requires the tnjstees lo prepwe fnanLyal ststemenls for each fin¥noal year hith give a trua and f￿r Maw crf the State of aff￿.13 01 ts thar6ty and of the mcoming reBouT￿ application of resourwd rf th• C￿rty for that period. In JYty•ring these ￿an(JaI stat&Thnt8, Iha trust••s are ￿￿hr•d to.. Select sJrt**le 4ctounlSryJ Wicatt then ath trom 0)n¥•tw￿￿, obwv• the m•lhod$ aThJ wnciplès in ts Charrlies SORP.. Slats ￿￿her applicab￿ accounth.ng standards have twn l**•d. subpcl b ￿Y material d•parturg¥ disdosed axplained kn Ihe rMan¢i￿ Stat•M￿., preparo thè fmanaal 8taterne￿ M th• going cmcern it is iwppw•t• ts fftum• thal th• ¢harlty vlll CA)rrtlnue In I￿91r1e••. Tho trustses ar¢ r•ynsibl& for keepiThA woper acuunling r•c¢rds that diBdose *Trth Tgas¢)nablo ¢ura¢y at Ime the ￿an0a1 ￿5￿10n d the d)8nty and énabte th￿￿ to ensure tr¢at the ffianc4al stslement5 comply ￿th tt18 Charrtw Aet 2011. lh• aFphcabkn Charitles IAcc¢)unt8 and Report81 R8gulatton8, and the ￿1$1(￿9 cl the ¢￿n$￿t￿t￿Jn. Th• tru$ttes are d80 re8F4)nwt￿? lor safeguardIr￿ the a8881s of the chwity * h•rwx tr tthing [BaB￿ble Btsps lor the Fxevention L*teG*ion of fraud •r ¥regularities. Dl8¢lo•ur• of Info￿￿0￿ to •udftor E¥¢h Iruslee has takert Ste￿ (hat I￿ght taken a• o trusl•e tr> m*k• ￿mselVe• lare of wy rdevarrt wdit irrformaticffl ￿ 10 88tabli8h trbat the c*arity'J wdrior is aware cl that nfr)mMlion. The truste•$ c￿ffirn Ihat there IB rtj rèlov￿rt Ktsmthn that ol of they know Ihe aLKlitor un￿ar?. R••ppolntsnMt of auditor A ￿$Olu10ft the re-appoinlm•nt rf MHA Tait Wther 88 *M1itor8 of Ihe th•rity i• lo ￿ propos•d at tr forthcoming knnual G￿er￿1 ￿￿Ing. The annual repr¥t ¥ra8 wproved ty the trustees rl ........ . . ... d ssgned ￿ its behati MrDAGray Trustse The Slr Tom Cowle Charltsble Trust Independent Auditorfs Report to the Members of The Sir Tom Cowie Charitsble Trust Opinlon We have ajdlted the fmancial Btsterrnnts cl The &r Tom c(r•￿e Cknaritable Trust (the 'tharty? for the year en*Jed 31 August 2020. 7Ahi¢h ¢omprtse tré Strtem￿t c+ Fin•ncrd Ath"wbe8, Balance Sheet, arKI Jtes t> lh• Finantsal Statements. vKiuding a ￿rnMary d ￿g1¥fiC¥￿ accounting ￿11(￿08. The fnancial rewung framework that has been 4)￿led in their wepar4tK+n 1$ Unrted ￿ngdoM k£¢unb"ng Standards, comp￿$1￿ ￿a￿&S SORP - FRS 102 'The Finan(yal Rwting s&￿￿rd ¥￿iCable in the UK and Republic of Ifdand and 4)￿¢ca￿a L¥w (Unitad G¥￿alty kn•pt•d Pr¥ctic•). In Onlon the fflnandal 8tstemonts'. give a true fa￿ ¥bew of the st*e of ts (hnty's •ff•ir• •• * 31 Axuust 2020 of rt# Incoming r880urc•8 and ¥plkalOon ol wesour¢è8.Induding its irK•me and •xperKlitLn for the ye¥ then ertt#•d'. , hav8 bèon wopoty prepaT•d in aca)rdw ¥Ath Unitsd ￿r¥doM Genefalty Prgctic•', . hav• b8•n prnpw•d h ac£ordwi tAith ts reqw8rrwts d the charrt￿ 2011. Ba•1• for oplnlon W• ludn kn acx¢rd*nc* *lth Int•mthl StaTrJards ￿ N￿lIti￿ (UK) IISA8 IUK)18nd Jplicable law. Our th￿• stsndards are futhr dO￿bed in thè Auditor's reSpon￿bilItIeS fty the •Jdit of the fin￿&•1 8t*erner)ts sec1￿￿ report ar• ind•p•nd•nl of the charity in arLordance *lth th8 athical requirom8nts that ar• ￿l￿afit b txff wjrt of th• finano¥l stateffl￿ts in the UK. ￿￿U(￿r& th• FRC'S Etrmcal &andard, we have fv￿1￿9d cw otsr •thi¢al rn¥Kn&bilities n •xordance these r￿￿1￿ments. Wlove that Iho ￿dit evvaèrt8 V•* Iwv8 cètain&J 18 8uffld•nt *vJ wgwoprTrate to * Iw'8 lor our OFInk￿. conclu￿OnI r•l•tlng to golng coiic•m We hovo nothlng to rewi kn re8wX of fo10￿n9 maltsr• li rnlalion b) vA)ic* the ISAI (UK) require u8 to report to srju vIt￿e.. the Iru8ttes of IM goYvJ concem b￿1* d xxyxmtir#J fft the wyr•lb)n of th• finwdal •lat•mwts not approprlat•', or Ihe trustees have not discfosed in the finaNial slalerr*nts ￿Y materfal ￿CertaIntleS that may ¢08t $KJnth¢onl ¢*)ubt #)out h th•nty'$ am'lity to rxmrtinue to adopt the conc•rn ba￿9 of a￿UntIng for a ￿riod of al ￿lt &￿￿¥￿1 mortro from the date the fin1n￿•1 statements are authjrised for issue. The Sir Tom Cowie Charitable Trust Independent Auditorfs Report to the Members of The Sir Tom Cowio Charitable Trust Other Informatlon The trustees ar• r•sponsible for Ihe cther Infomiatbjn. The ¢ther 11knti￿ o>nprTue8 Ihe inlormatK)n indL¥*d in the annual report. otlw than the ffiarthl statèThnts ￿dilL)rf$ report thereon. Our Ini(X M tho finaneiab *¥lem•nts thxs cover the olhef inform*ion ￿, except tr) tM extent erwge ex￿l￿tty ¥t*d in ¢wr Trport, ￿ th) Th)t expreJ8 •ry form of assurance o)ndu%on thereon. In connecllon aKIit ol the ￿ar￿al statemenls, our respcv￿"bl1ty ts to read tho cther Infom)ati¢)n d. in thing 30. consider lh• crtw infcrfmthon materialty iKonwstent the financAal stal•m•nt¥ cr our kno¥￿edge cijtainod kn Ihe a#lit u dherwse appears lo tr4 matsrially mi8$t•t•d. If we klents'fy such fftattn￿ inconwt•no•s ty *parenl m3ttrlal ￿¥statements, ￿ are rewired to determine vkn•ther thao 18 a matenal misstalement in th• thanc4al *olements ty a matsrial mi98tat8m8nl ol tt)• cthor infornation. If, basad ￿ thè ￿rk v* F￿(￿rned. w￿ that there b 8 malerfal MS$#tatemenl crf this oth•r Informakn. * arn rnquw•d to r•ptyl thal fa W• have rothing to rwrt h this rngwd. on whlGh w• •r• Y•qulrnl to i•port by •x¢•pOon In Ihe light crf cu kncthlodgg and ￿de￿landIng ol th& ¢han"ty its trMTonment Ltt•1r￿d in the of the wdrt. have not bjenbw m¥kn"41 rnisst8tements in the Tru8ts8s' Raport INe have Thjthing to i•rth n rg8p8ct matters IM Ch•rTtsa Act 2011 r•qulTM LM to r•port b) LO, tii ￿n￿n.. 8uffi(4•nt amnting r8cord¥ Iwve been kept. or . the ffiandal stsl*n8nts are Thjt ￿ agreeff*nt %%ith th• ac£Jectives are to t*Jtain r•aw¥ble assurance about ￿ther th8 financ4al Stat￿r￿ as a Nthol• ar• from material misslate￿nt, 4thother to ftaud or errty. to an ￿drt0¢3 report that Indudes cpinion. Reasonalje assurance ra a ￿gh knl cl a88urance, l)Jt v& rw)t a guarantee that an dit conducted ni aoxrdan¢e ￿1th ISAS OJKI will aKvays dotocl a ma*rial nw$$tstement 4%1)en tt exists. Misstatements ean arise from fraud cf are Conside￿ material if, w￿l¥￿￿Ually the ￿Jg￿99te. they C￿￿1 roasorwbty be expe¢aed to nflUen￿ Ihe 9¢￿0M1¢ deckgions of users tsken C￿ the basis of these ￿an¢￿4 slatemwts. A further desuiption of our QSFQ)sibil￿es for a￿lIt d the ffinanaal statem￿ts s bcated on the Finanrial Reporting c￿￿1.8 **b*t¢ al wwhy.fr¢.￿￿.y1ja￿JrtOVSreW3ItI1rtleS. This description lorms part of our ￿￿1t￿8 ￿￿t. The Sir Tom Cowie Charitable Trust Independent Audltorfs Report to tho Mombgrs of The Sir Tom Cowie Charitable Trust UM ot wr roPQrt Thi$ rewt made sO￿Y to the thwity twstees, as a b)Jy. in aC￿rdOnCe V*lth 8e(#6on 144 d ihe Chaftlr•s Act 2011 regulatiM$ m•dts ￿der secknn 154 of that Act. Our *Drk IHS b89n undertak8n $0 that Mfr￿t stsle to Ihe tn￿tee5 those matters ￿ are required to slate trj truste¢$ Mi ￿ auditOfS' report d for rKJ LYh8r wrpose. To ts fullest extent pemrtm ty rth. we th) rnt accept or assume pon*ly"lity to +Xher than the chanty tmstees as a ￿dy, for cyjr abJlt work, forthi$ report, for Iha cyinion$ w• hav• Slmo) 8r¢thvn 8A ACA CCtr&4 (Seniof Statsrtory A￿lit￿) For and on tsqhall ol MHA Tart Wak•r Chartered A￿Ountsnts ststutory Auditor 8u1M￿ Fknise Ragenl C8ntr• Gosfoth upon Ty NE3 3LS MHA Tdl W•ker ￿ • tradiNd n•me al T•it W*er LLP. The Sir Tom Cowie Charitable Trust Statement of Financial Activities for the Year Ended 31 August 2020 Total Totsl 1 Jun• LknrMtrlct•d RMlrlct￿ EThdo￿n•rt 31 August to 31 August fund• funds fvnd• 2020 2019 Incom• and Endo¥rnt• from: Ik*naty'ons gaaes Investr￿￿t income 10,078 103,978 103.978 164.784 Total In￿rn• 103.978 103,978 174,842 ExP•nd￿r9 on: Rai8irvJ fvnds Ch¥rit4t4e vlties Other 19.191) P7.575) 136.768) 146.4681 {120,086) Q9.1051 (149.191} 1173,2901 38 Expendlture Galnsllloss￿) cn Inve8th18nt 129.2 56.680 185.957 219,798 32,162 104,833 ,871 202.759 Nel Inc￿0/{0¥perK1￿ufe} Gross tran¥ffjrs ts¥een lurKI8 (161,513) 11S4,850) 157.805 17,35 17.357 N•1 n fund$ (10,494) (144.158) 1154.850) 157,805 R•conclll•llM of fvnd8 Total fvnds trKought fofward Ttjtal fvnds earrth Iotvlard 14 41,456 5.801,817 5,643,141 5,485,336 30,982 5.457,481 5,488.491 5,843,141 Al of the tharity's **vities d•iive frryn oxtinu*s the kn t￿7 Fer￿1$. The Sir Tom Cowie Charitable Trust Comparative Statement of Financial Activities for the Year Ended 31 August 2019 Totsl iknr•8trl¢t•d RMtrl¢t•d Endowrnnt 31 August fund• fund• 2019 Incom• and Endowm•nts from: C￿natiOnS and kngacI•8 Investment in¢)Jme 10.078 10,078 184.784 164.784 Total irKom• 164.784 10.078 174.842 Exp•ndliur• ¢)n: Raising fun(l$ Charttable actfvlN68 Oiher expendrtur• Totsl •xponthtw• G8SnWllou•81 ￿ Invealmenl assets 111.8171 <124,7551 38 134.851) 138,525) 148.4681 1173,2901 38 (10,010) 136.410 10,010 3,378 219,796 124,081 328.840 202.759 Nel lexpendllLrreylncom• Gross transfers bgts¥a8n ￿n￿* 195,7271 119,753 253,464 119.753 157,805 Nel mo¥wnw)t i) fvr#J8 24.026 133,711 157,805 R•¢4)ncMl•tlon of fund• Total fuTrJ• trought forward Tot41 furKI• c4rrl•d forward 17,430 5485 336 14 41,458 5.601617 5643 141 10 The Sir Tom Cowie Charitable Trust (Reglstratlon number: 1096936) Balance Sheet as at 31 August 2020 31 Avgv#t 2020 31 AUg￿t 2019 Flx•d ass•ts Investm•nts 11 5,361.868 5,520.577 Currènt amets Debtor¥ Ca8h 4t bar￿ ￿ in harKt 12 168.028 188.893 220.481 221,143 Cr•dltorn: Amounts falllng dy• fithln ¢yw y4•r N•t curr•nt a•••ts 13 2,070 98,579 126,623 122,584 N•t *M•ts 5.488.491 5643 141 Funds ol th• ch•vlty: EndoMn•nl fund• 5,457.461 5.801,817 R•¥trict•d funds 68 Unro•trl¢t•d Incom• fund• Unr08trictod furKIs Totsl fund* 14 5 488.491 5843 141 anaol ¥tstements w FqJ88 9 to 24 wov•Y ty ts tru8t•u, ard arthori￿O for i88u• on eir tehall ty.. Truytee 11 The Sir Tom Cowie Charitable Trust Notes to the Financial Statements for the Year Ended 31 August 2020 1 kcowllng pollcl Stsi•m•nl of ¢l• Tft*t med8 tha d8fintt1L￿ of a wblic hn•fft ￿tity ￿d•r FRS 102. As80ts or#J liabilth'e$ ar& nrtidly re¢ognised * hlstorical cost cf tr•)8•thn valu• thlem dheThw'88 otated in Ihe levanl awJuntiThA Fdicy note8. The funcllon41 ￿rrencY r8 #erfirs. Ex•mpdon from pr•pArSng a ￿¥h fl¢y•J ¥l•lw•nt The tharity opted to early athapt Bulletin 1 wblished on 2 2016 WKI tr•v• thw•th r•3t indud•d a ca8h flow 8tatoment in IAes• ffina￿al 8tatem•nt8. Golng Cl￿¢•￿ The Iruslee$ havg ry)n•idered the ffioncl* po￿￿On n Ight d Iho rAwiNJ IlJJat** ii [•1•1￿ to lh• Cow'd-19 Wints •nd on condus*Jn ol this %wJk, liven Ihe ¥trong and invgslment balan￿, ￿roK1•r that there are no matsrial uncertaintr¢$ abwt th• tha(ty8 **ilty •) ￿trAue aj a gjirva coYKem. E•tlmatlon UfbC•rtalnty and1￿•m•￿tr Tho weparatlon of Iha fnanaal slat8rr*nts r￿uIr&S Managem￿ l) maka judg•m•nts, •Jtlmat•$ and 418unwtions that tr)e •ncwnt8 f•POrtod. Managem•tt have wowded *re(iation. wopaymjnls. K¢xual* (Xhgr ￿rt-Off ailJustm•nts. WhM8t manag¢m¢nt beli¢v• thal tw •*im•teJ •)d accur*o. thore Ikelthiood that they wll Tr)t be exact. The￿ eslmatos fvdgomonts are conlinualy r•vknd are t49s•d cn experiencè Ind other fadors, nduding eXp￿ta￿.0￿3 cl ftrture events that arn rpasonable Lmder the c4ruJrnAtsnctt. 12 The Sir Tom Cowie Charitable Trust Notes to th• Financlal Statornonts for the Year Ended 31 August 2020 1 kncountlng pollclej {eon15nu•dl Inc4>m• and •ndoMTr•nts Vc4untary int￿￿7e ¥Kluding (knnall￿S. grTr3 ￿ *acies ¥#19rants that ¢)y¢ fundlng or are of ggneral natyre aro rocojnisod there Is enllU•mwrt. ￿rtaInty ￿ ￿Cept and the amount (xn be measured with 8ulfiaent reliablity. Suth irK(¥ne is dthrrad . The O)nor ycifies Ihat thè 9Ant ¢* Ik*naknn must bg u8•d n fiAur• a¢o)unting p•riod$', . The I*xKJr has ¥nFrfJs•J must b• mat b8fu• th• tharity P•s )ndibon•l ￿110•m￿l. Oonations and *gaaes w• recolln18ed • rn(xlvat>le t*¥i$ rwx¥>t IJ wobabb the amcunt n m•asur•d. Oividenda are on¢fj Ihe thid¢Thl bgfjn d•d•red wd r¥Xthc•lion b•w r￿•d ol lh8 th'vidend ￿•. Exp•ndltur• All exp¢ndTrfvr• Is reccgnlsed once there o a *•1 ty ca)ng￿¥0 01￿19a￿On to Ihat èxpèndthr6, bt is probat4e 8elVement iry required and Ihe am￿nI b• m•owJred rellabty. All L￿ts ore 8llcated to tha appluble expendilurv ￿adIr•a that •sgr•gate wmikr costs to Ihat calewry. Where c08ts cannol b8 dir8Ltty attributed to partb)Jlar headings thay ha￿ t*en 4o¢al•d m a bgsis o)Mistent v￿h the use of r88ourc•s. vlth central staff costs aIltr￿ted u) the baws d bme spent, ar¥J depreuab'on charges allocaled Flyllon ol tr* aueV8 u0•. Olher o)&$ ¥e allocatsd bamd spr&￿ of staff cost$, R•lslng fvnd• T￿$6 are costs In￿rred n atra¢lir¥J br￿ntary rK4yn•. m•r•gem•tt ￿ invesknent• those IrKwred kn tradlng •Si¥ilta8 that raise fund& Clwlt•bh a¢OvlU•s Ch¥rit•t4e expenditure cowses Ihose costs irK¥rr•d by the Charity in Ihe delivery (* rt¥ xlivltles •ervices for ts benefia4ries. It i)dude8 t#)Ih ¢xJsts that c¥n be 4loGated direclty * ¥uth bkne costs (rf an I￿1r8¢t n•knre r*ces8ary to 8UPPOrt them. T￿se in¢lude Ihe ¢J)sts attributable kn Ihe (orry￿a￿a vAh ￿nstItUtiOnal *KI 8tatutory requirenwnts. 1rd￿Jing audit. strat•g¢ mawemwt truste￿.8 mpeb.ry roimburaed exppn3•8. 13 The Sir Tom Cowie Charitable Trust Notos to th• Financial Statements for the Year Ended 31 August 2020 I kcounting poliGi•8 (contlnwd) T•xallon Th8 tharity i8 oJnsid8red to pass Ihe tssts set wt in Paragrath 1 SchedLAe 8 of th• Financ* Ac* 2010 and therofore r( moets tr*& ¢JefinNp)n Lrf a c*wltablè UK cworation lax purpose8. A¢cordingly, the (*arty L¥ Wentialty exeiiyt from taKatKJn in raspact d i1￿￿)￿ or cap.tal gains r8cèiv•d ¥Mthin categories ￿*￿1¢￿ ty Chapter 3 Part 11 cl the Corptyab'on Tax Ad 2010 CY Sethn 256 01 the Taxab'on of Chargea￿t GaTh 1992. kn the extent Ihat inc(xr* or gains are appli•d •xdu8iv•ty to tharitoble PLWPO8es. Flx•d a•••t InvMtm•nl• Flxed *$•el inve3tmerrts are induded at market value at the balance Sheet ¢Jat•. Roall8ed gain8 1088e8 on inv•skn¥nt$ ar• calLwlat•d as th• dthence Lwween saks pr(wds their market value at thè start of Ihé year, er Ihew subsèquwrt ¢2)#L ¥KI ar8 thargod ry *7otht•d tr• th• St•t•m*tt cl Fin•n¢i•l Unreali8ed gains 10$8¢8 re￿$¥nI th• mo¥*m•rt in mirkel v•tve• OJriTrJ Ihe org (Zodrted or charged to t￿ Statement of Firwlcial h£tiMtse8 based on ttle market valu• at th• ￿#r •KI. Tr•d• d•btorn Trad• ￿d othw dobtor8 are (ecognlwj ￿ the lettle￿ aM￿ttIt ¢*Jo aft¥ trado diacount off•rnd. Prepayments arn Y4lu8d at the amwnt •iy trade doo)unts C•sh *nd ca•h •qulv•hnts Cash cash equivalents CJJmwA• ca8h on Lxll depowts. and rAhor short-tami hghly liquid investments Ihgl are r•adlly crrnrIlb￿ to a •n￿nI d cash 8uW b w nsKJnfflcant risk of thanqe in v4lue. Trnd• cr•dltorn CredrtorB arKI wowslon8 we rpcogN*d wthere the th8rlty Iws a pywent cknfigthn re$uttlng ftom a past event that ￿11 wobabty r•sutt n the transfer d funds to a third paFty and Ihe amount due to selue the obligkn'on can te I￿asUred ￿ esknmated reliably. Credrtors and wo¥ision ar• r¥)mioly reo)gnlsed at thelr settlement amcAJnl after alknw"r•J for any trade d￿tsJnts Ihje. Fund 8tru¢turn Unrestricted lundts comF*i$e those fvnds vthith the tw¥teM ?r• free lo use tr wy purp)8e kn iJrther8nce of Iha tharltable objacts. Unrèstnct8d frJThYs Can mdude *Jesyiat•d funds Ithere Ihe trustees, at their dracreb.(￿, t￿¥0 created a fund for a Spwfic purpose. R•8trided funds are fuftO8 4re *) be *ith r•stritXons inF¥)swd I￿ Ihg 14 The Sir Tom Cowie Charitable Trust Notes to the Flnanclal Statements for the Year Ended 31 August 2020 I Accounllng policieB Icontlnuedl The charity has ￿ expendabl• eThJcAwmont fiJr#J. cr•at•d ty a &)nati¢m from &r Tcffi Co¥Me. Th? inoyJme this fund o used to purtha3e woperbes investr1￿ts, to generate funds for the expenditure uired to meet the tharitable objecti￿. The tern￿ ￿ the fund 8t1￿• tr* Inc£the to ba at￿M￿lated and ca￿'t31 to t• spent rf thè trust••i $0 del¥nMrn. The intentron al the trustees is b) pres8No th8 capital, as far as pjssible, spendlng the income 8amed the Mive$trnents. Flywever. trw IruBlees will conb.nue to a)n?ider •a¢h wtential •Wtalon fty fLmdir& crf) it9 mèrri may chooge to Support larger applications even rf these erode the Jsts d É40,408 12019 - £53,907) vthith ￿late direcvy to thantable &*vitle8. S•8 7 for furlhèr dètsil8. 17 The Sir Torn Cowie Charitable Trust Notes to the Flnancial Ststements for the Year Ended 31 August 2020 S Expondlthrn on ch•ri¢abl• •divitiM l¢onlinuodl 2020 2019 Grnnts to In•UtyOon• Prfmary Sthools. xhoc4 tr Wocxl•hed Worl(shop Soulhm¢oi Academy Dame C￿￿Y Primary School Ateralions ang•ttyvn &lla• Lane Primwy. Roal 8ramston Prfmary . Bc Lknfversity ot 08vfj1opm￿¢ Tru* F•atw•s Fund Burwy SundortaTrJ Cty - Coats for lfj 7 Colomb) Road . A#iwiws cOn￿tt Rotary 6,020 22,500 816 10.803 3,582 2,125 41.043 1.030 Q310 5,418 37,500 10,010 375 20,000 538 115.010) lknwfi•ld$ Prfmary- Ibrary The W Merthant S•am•n8 HCrfn￿. Tr8ts19w Houle Grangetchvn - Covid-19 &'1108 L¥ne - Cowd 19 10,000 20,000 4.000 1,000 zooo 500 V•llgy Road- CovS¢a-19 Jd8on Road . CovK>19 Dame t>yothy- Covk1-19 Sundedand Ccfflurmty Swp lfjtd￿n- ￿1&18 DeThventside Trust- Co¥i¢>19 2,000 Isoo 5,000 10,000 6,000 3,179 598 East Dutham ComrNnty C*v•lopnwrt Tru￿. C(Ni&19 Boat Irip8 Vllla Real Bummoor So>Jts r￿rhoM A88￿￿0110n d 8oy8 a)d G￿1 aub8 Sif Tom Co￿19 Family Trust W•arsid8 Need 1.500 190 f1911 108.783 5,000 119,383 Totsl Grants 18 The Sir Tom Cowie Charitable Trust Notes to the Financial Statements for the Year Ended 31 August 2020 6 Other eXp•nd1￿rn Total 1 Jun• 2018 to31 AuguBt 2019 Tt)tal 31 Augu•t 20 MarketirwJ and puL4iaty cc*ts in 2019 ￿•re unr•8triXed. 7 An•ty•l• of gov•rn￿¢• and •upport colts Support co•ts •llocat•d to chArltsbl• acttvlll•• Total 1 Jun• 2018 to 31 August 2019 Totsl Go¥•man¢• 31 Augu•t 2020 A￿Jit f••1 Tax fees Leg81 fe•> Trustee in8urwce suh￿PtiOns Bank ch¥r9•8 A(*nln Support costs Bookeep￿g Fe88 Inlemet Charges Entertainment Exchang0 rat• Yarianc• 3,600 3.840 288 752 925 1,022 193 27.120 5.780 451 193 27,120 5.760 451 81 44.191 1400 793 883 40.408 40,408 53,907 8 Tru•twA r•muMratlon and •xp•rn k) Iru8te•$, any parwx o)nrrtled *ith thwn, tr•ve rtctr¥ed rerTvJnerwlion from the during the year. No trustees have receNed ￿Y rl¥m￿r3ed expenses from Ihe tharity thring tho ￿4r. The tharity does not ern￿OY members d *aff. 19 The Sir Tom Cowie Charitsble Trust Notes to the Financial Statsmonts for the Year Ended 31 August 2020 9 Auditorn. r•mun•ration 1 Jun• 2018 to31 AUg￿t 2019 YMr •nd•d 31 August 2020 Audit of the ffinan¢tal statements 3.600 3.840 O¢hw fom to audltorn Taxation ojmpllance 8epAc88 AN other r￿-Ou111 genAc 10 Tax•don Th• charlty l# a mgl8t•r•d Ch￿ and i# th8T*ir8 oxffj from laxation. 11 Flx•d a•Mt Inve•trtW 31 Augu•t X)20 31 Augu•t 2019 Olh•r inv•stm•ftts 5,381.868 5,520.577 U•t•d InvMtr)•nt• Total Cost or Valuatlon At 1 S•ptemt•r >)19 Ald￿lorvd 'BPOSals RevoluatL)n 5,520,S77 5.520,577 2,787.541 2.767,541 (2,821,399}12.821,3991 104,851 104,851 At 31 kngust ￿20 5,361.868 5.361,868 P4•t book valu• At 31 hJJgUSt 2020 At 31 ￿ljgUSt 2019 5.361.888 5.381,888 5.520 577 5 520 577 The Slr Tom Cowie Charitable Trust Notes to the Financial Statements for the Year Ended 31 August 2020 11 Flx•d aM•t inv•#tn*nts (Ggntinu•d) Historical cost ol investr7)enl• al Jt¥ ¥xl £4,531,243 (2019.. £4,136,027) The investments we mad8 up as folItt￿. 31 August 2020 31 Augu•t 201# UK Quoted Fixed Intgr•st so￿r￿*s UK Quotèd Shares Nc4FUK QU0￿ Share• N¢)n UK Fixed *it•rnst 1,060,163 2.334,365 1.698,071 271,269 1,159,336 2.476,371 1,693,876 190,992 5,361,868 5.520,577 No YKlividul ¥har•hokJng exceeds 5%. 12 D•btorn 31 August 2020 31 Augu•t 2019 13 Crndllor•: amounts hlllng du• wlthln on• y••r 31 Augu•t 2020 31 Augu•t 2019 Trade credltors ACC￿￿19 53.470 8.800 89,819 8,960 21 The Sir Tom Cowie Charitable Trust Notes to tho Financial Statements for the Year Ended 31 August 2020 14 Fund* B•labK• BAlancg Oth•r at31 rncegnlJ•d AuguBt •xp￿d•d Trnn•fwsg•lnsl{loss•81 a)2Q 2019 Gèneral 41,456 103.978 1129.27n 117.35n 32.182 30,902 R••trict•d fund¥ Co4t8 for ￿d* Endowm•nt fund• Exwn*J•ble 5,801,617 56,680 104,833 17,357 5,457,481 104,833 17,357 ￿ 5.457,461 2,671 5,488,491 5,601,617 56,880 Totsl fund• 5,843,141 103,978 185,95 Unrestncted funds comprise those lunds Ihe tru$tee8 gre fr•• to U8• wrpose in furtherar of the tharitable obledj. Unre8tricted lurvJ8 ￿ indude dE8ignated lunds 4*therg the tr￿tee9. ot thelr Th• chority has ￿ Oxk￿dable endolmiwt fvnd. ueated by a don￿.￿rt from &r Tom C¢hvie. The incomfj of tNs lund l¥ uyfjd to purchw Fryerfle$ ￿ Inve￿￿. to pntrnte funds for the expenditure rwuired to m••t th• th¥itsbl• obi•cbves. The tem)• of tre fvnd aifow income to ￿ aoxyjmulatod and the ￿prtaI to te spent rf the Irwtee8 so detemiine. Th• hitenbon of tre tru¥te•s 1$ to preserve the captsl, as far a8 F0S￿bIe. spending e•med from tr* inVeStr￿n￿. Pkxever, the trustees V*ill ￿ntinUe to consider aach Fd•ntk41 4plicalion for lunding m ts ¢y•m mefrt ¥KI mly thoose to BUPPOrt Larger applKations v48n rf these •rode the c¥wtsl vaue Lrf I￿ enth>wment lund. The Endwent R•wrv• at •ach flnanclal ￿Or w4Uates to the aggregate valua of FrA&J Asset In*4estment8. Cash hehd ty the investment bfoker Iwhic*i is recogrw8ed ￿ fAwrent assets) I￿ ony F4y (wh￿* are r•¢ognis•d ri ￿rrent liaL¥tsbe$l. The 8p8cific wrpous lor *thi¢h th• ftmd8 arn io t* •* # fr)11(ywJ.' Coats PToth9Ct. The fund w&8 crnated to pJrcha80 trj gr¥8 Irèè 10 thiktren. The Sir Tom Cowie Charitsble Trust Notes to th8 Financial Statements for the Year Ended 31 August 2020 15 An0￿[$ of n6t •s•ets l)thw•n fund• fund 31 August 2019 Ex￿d&b￿ Total thnd¥ G•n•r•l nd• Fixed a8S•t investThEnts Current assets Current labAIti•8 5.361.868 147.623 52.030 5.361,868 188.693 62,070 41.002 10.040 Totsl ret a#8 30.%2 5,457.461 5.488,491 Unr•*1￿10d nd• 31 May 2019 EX￿nd•b￿ Totsl fundB RMtrkt•d fvnd• Fixed asset inv•8lm•nts Current *ssets Current habilibes 5,520,5TT 156,619 5,579 5,520,577 221,143 64,456 Total rnt 8•80ts 41.456 5 601 617 5843 141 16 knity•l• of n•1 fimd• At 31 AuguBt 2020 2019 Ca•h Ilow Cash at bank in hand 220.481 132,455) 188,028 t debt 220,481 (32,4551 188,028 At 1 Jun• X118 C••h flow 2019 Cash at bank harvj 47,627 172.854 220,481 Net debt 47,627 172,854 220,481 The Sir Tom Cowle Charitable Trust Notes to the Financial Statemonts for the Year Ended 31 August 2020 17 Rela￿ pArty tran¥•¢fjons During Ihe ￿ar the charty mad• rfjlated party tran8adion8'. Tho S5r Tom Famlly Trusl 2006 The &¥0 entIt￿S are related n that tru8te•• L*ty D Mr D Gray Mr P Blackott aré trust•￿ of The Slr Tom Ccmle Famity Trust 2006. ring i*ar the trust incyjrred ￿lM￿l$tratth supwt 4>)8ts cl £27.120 (2019 - £30,480) aid cth•r cost8 d £280 12019 - £Nill. At Ole t*iance theet date the amoLrt thJ8 tolfrom from The Sir Tom Family T￿￿t 20C6 vrds £MI12019- £13,560). Cowl• Eststs• Lknltod The Nvo •rftto9 art rélatsd in that Mr D Gr¥y *)d Mr P &a(*ett arg of E8tat•8 mrted. ring the yèar tho trust in¢urr•d m•r4gemwrt of £Nil 12019 - £5,460) Cowi• EBtste8 Llmtted. At the t*Lqnc6 shéet date Ihe amcunt tthom Cthwe EJtates Limited wa8 £Nil 12019- £Nill.