YKSJnLTrarWl Ret. SS9749JX-1(92L 12 Jul 2024 14..09..5188T(UTC +110 sn P 1122 Charity registration number: 1096936 The Sir Tom Cowie Charitable Trust Annual Report and Financial Statements for the Year Ended 31 August 2023
YKSJnLTrarWl Ret. SS9749JX-1(92L 12 Jul 2024 14..09..5188T(UTC +110 sn P 2ri2 The Sir Tom Cowie Charitable Trust Contents Reference and Administrative Details Trustees. Report 2to5 Independent Examiner's Report Statement of Financial Activitie5 Comparative Statement of Financial Activities Balance Sheet Notes to the Financial Statements 101020
YKSJnLTrarWl Ret. SS9749JX-1(92L 12 Jul 2024 14..09..5188T(UTC +110 sn P 3r22 The Sir Tom Cowie Charitable Trust Reference and Administrative Details Trustees Mr D A Gray. Chaimian Mr P R Blackett Lady D Cowie Charity Registration Number 1096936 Principal Office Estate Office Broadwood Hall Lanchesler County Durham DH7 OTD Independent Examiner Simon Brown BA ACA DChA Azets Audit Semces Bulman House Regent Centre Gosforth Newcastle UFon Tyne NE3 3LS Solicitors BHP Law Westgate House Faverdale Darlinglon Co Durham DL3 7RT Bankers Bardays Bank plc Newcastle City 71 Grey Street Newcastle upon Tyne NEI 6EF
YKSJnLTrarWl Ret. SS9749JX-1(92L 12 Jul 2024 14..09..5188T(UTC +110 sn P4r22 The Sir Tom Cowie Charitable Trust Trustees. Report The trustees present the annual report Icyjether with the financial statements of the charrty for the year ended 31 August 2023. Structure. govemance and management Nature of govemlng document Tho Sir Tom C¢)wio Charitablo Trust is a rogister•d charity Irogistorod numbor 10969361. The governing document is Ihe Trust Deed dated 20th January 2003. including the followng restrictions-. .There shall be at least two trustees at all times, who shall be at least 18 year5 old. .No trustee shall require any interest in property belonging to the charity, receive any remuneration from the charity or be interested in any contract entered into by the trustees. .Trustees shall be able to receive payrnent in good faith for: .Professional charges provided the benefiting trustee was not present at any meeting at which his appointrment or remuneration was discussed. .Inlerest on money lent to the charity provided the interest rate does not exceed 2% less that the bank clearing rate. .Rental income for premises let to the charity proiided the benefiting trustee was not present at any meeting al which the lease or rentals payable was discussed. .Reimbursement of reasonable out of pocket expenses, incurred in their capacity as a trustee. .The Iruslees shall hold at least trNo ordinary meebngs in each year. Decisions are detem)ined by the majority of votes at meetings. If no majority is determined the chairman shall have the casting vote. The trustees also act as the organising committee of the charity. Affangements forsetting key managementpersonnel remuneration The charity does not employ any one direcly. The board, together wth the charty correspondent, run the day to day grant giving activities of the charity. As a resum there are no key management personnel. Rlsk Management The trustees have conducted a review of the major risks to which the charity is exposed and the systems have been established lo mrtigate those risks.
YKSJnLTrarWl Ret. SS9749JX-1(92L 12 Jul 2024 14..09..5188T(UTC +110 sn P sr22 The Sir Tom Cowie Charitable Trust Trustees. Report Objectives and activities Objects and aims The objectives of the charity are the promotion for public benefit wthin the Cty of Sundertand and County Durham by all or any ol the followng rneans= .The relief of povety in such ways as may be thought frt. .The advancement of education in such ways as may be thought fiL .The relief of unemployment in such ways as may be thought frt. .The provision of assistance in the provision of housing for those who are in conditions of need and the improvement of housing. provided that such powers shall not extend lo relieving any local authorities or other bcKlies of a statutory duty to provide or improve housing. .The maintenance, improvement or provision of public amenities. .The preservation of buildings or sites of histollcal or architectural importan. .The provision or assistance in the provision of recreational facilities for the public at large andlor those who, by reason of their youth. old age, infimity or disablement, povety or social and economic circumstances. need such facilities. .The protection or conservation of the environment .The preservation and protection of health. .The promotion of public safety and prevention of crime. .Such other means as may from ts'me to time te detemiined subject to prior consent of the commissioners. Fundralslng dlselosures The charity is required to rèport how it deals with fundraising from the public_ The charity does not use a professional fisndraiser or commercial participator to raise funds. Any monies raised direct from the public follows all guidelines set out by the Charity Commission and UK law in every respect. We respect the privacy and contact preferences of all public donors. Publlc l)enefit The Charity intends to continue to benefit the public of Sundedand and County Durham area. The Charity continues to run its own website, wMw.slcct.co.uk, lo which all potential applicants are now directed to see rf they meet the criteria for grants and, if so, to make their aPIcation online. The Trustees confimi that they obtain as much media coverage as possible when donab.ons are made. Where appropriate and possible, the TTUStees also encourage the inclusion of the Charitys name and logo vthen donations are made. The Trustees consider that the above publicity raises awareness of the Charity which in turn ensures that the public are aware of the Charity a1 therefore provides the opportunity for people to apply to the Charity for consideratson. The trustees confimi that they have complied the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefrt guidance published by the Charty Commission for England and Wales. Grant maklng pollcles The charity invites applications for funding from individuals or institutions located wilhin its area of benefit. The trustees meet regularly to review applicalions and approve or refuse grants.
YKSJnLTrarWl Ret. SS9749JX-1(92L 12 Jul 2024 14..09..5188T(UTC +110 sn P 6r22 The Sir Tom Cowie Charitable Trust Trustees. Report Achievements and perfomiance The school visits contFnue to be a signrficant part of the charitys engagement with children in Sunderland and visits took place to Broom House Farm, Lamblon and the Wear River Trust project has expanded to all 12 schools. Consideration has been given to introducing two further schools. both of whom have contacted the charity and this will te explored further in the next academic year. Four schools took advantage of the trip on the Ocean Youth Trust North yacht during June 2023 and this proved a fantastic experience for the children. This would have been Sir Tom's 100th year, so at Sunderfand University it was decided to introduce special one-off £15,000 bursary, in addition to the £10,000 bursaries. The qualty of candidates was exceptional, although numbers continued to be low and we continue to consider how more applications could be encouraged. consideTation is being given to extending the scheme lo more faculties. A one-off scheme was introduced to match fund the annLtal High Sherrff Awards in the County Durham Cornmunity Foundation lo all 13 recipients in the irnmediate locality a5 part of the centenary. to recognise Sir Tom's association with the Community Foundation in the North East, bul focus5ing on the County Durham region rather than Sunderland. This was particularly well received and, in the current year, a follow-up application has been received from one of the recipients which wll be supported. Financial review The financial position for the year shows net outgoing funds of £216.821. including net losses on investment assets of £57,190. Total funds amount lo £5,566.146 as at 31st August 2023. of which endowment funds are £5,557,399. The Trustees consider the finanaal posits.on of the charity to be satisfactory. The Trustees have condiered the financial posf(ion and on conclusion of this work and given the strong cash and investrnenl balance. consider that there are no material uncertainties about the chari5 ability to continue as a going concem. Policy on reserves The trustees have reviewed future outgoings and consider the current level of reserves appropriate to generate sufficient income to pay future donations and expenses. Investment pollcy and objectlves Trustees may invest as they see frt, having regard for the standard investment criteria as defined by Section 4 of the Trustee Act 2000. Statement of Truste8s' Responsibilities The trustees are responslble for prepartng the trustees. report and the flnanclal statements In accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. The law applicable lo charities requires the trustees lo prepare financial statements for each financial year which give a true and fair Mew of the state of affairs of the charity alld of the incoming iesources and application of resources of the charity for that period. In preparing these financial statements. the trustees are required to.. select suitable accounting Folicies and then apply them consistentty- obseNe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent-
Rel. 859749JX*W2L 12 Jul 2024 14..09..51 8ST (UTC +1) D sr3 P 7122 The Sir Tom Cowie Charitable Trust Trustees. Report state whether applicable accounting standards have been foltowed. subject to any material departures disclosed and explained in the financtal statements; and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in busine5S. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charty and enable them to ensure that the financial statements comply wth the Charities Act 2011, the applicable Charities (Accounts and Reports} Regulations, and the provisions of the constittjtion. The trustees are also responsible for safeguardirvJ the assets of the charty and hence for taking reasonabk steps for the prevention and detection of fraud and other irregularities. 12 July 2024 The annual report was approved by the trustees of the charity on .................... and signed on its behaw by= MrDAGray Trustee
YKSJnLTrarWl Ret. SS9749JX-1(92L 12 Jul 2024 14..09..5188T(UTC +110 sn P 8r22 The Sir Tom Cowie Charitable Trust Independent Examiner's Report to the trustees of The Sir Tom Cowie Charitable Trust I report to the trustees on my examination of the xcounts of The Sir Tom Cowie Charitsble Trust for the year ended 31 August 2023. Responsibilities and basis of report As the charity Iruslees of The Sir Tom Cowe Charitable Trust you are responsible for the preparation of the aecounts in accordance wth the réquirements of thè Charities Act 2011 I'the Act'l. I report in respect of my examination of the The Sir Tom Cowe Charitable Trust 's accounts carried out under section 145 of the 2011 Act and in carying out my examination I have followed all the applicable Directions given by the Chartty Commission under section 145151{bl of the Act. Independent examiner's statement I have completed my examination. I confimi that no material matters have come to my attention in connection with the examinalion giving me cause lo believe that in any material respect" accounting records were not kept in respect of The Sir Tom Cowie Charitable Trust as required by section 130 of the Act., or 2. the accounts do not accord with those records" or 3. the accounts do not comply wth the accounting requirements conceming the fomi and content of accounts set out in the Charrties IAccounts and Reports) Regulations 2008 other than any requirement that the accoLEnts give a 'true and fair viev/ which is not a matter considered as part of an independent examination. I have no concerns and have come across Other matters in connectFon wth the examination to ich attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. SIM Brown BA ACA DChA Azels Audil Services Bulman HcAJse Regent Centre Gosforth NewGastle upon Tyne NE3 3LS Date... lets Audit Services is a tradirrfJ name of Azets Audit Services Limited
YKSJnLTrarWl Ret. SS9749JX-1(92L 12 Jul 2024 14..09..5188T(UTC +110 sn P 9r22 The Sir Tom Cowie Charitable Trust statement of Financial Activities for the Year Ended 31 August 2023 Total 2023 Total 2022 Unrestricted Endowment Note Income and Endowments from: Donations and legacies Investment income 100 97,357 100 97,357 5.746 97,823 Total Income 97,457 97,457 103,569 Expenditure on: Raising funds Charitable activitses 19,422} 1192,230) {28,268) 127,168 137,690) 1219,3981 (38,591 } 198,613) Total Expenditure Gainslllosses} on investment assets 201,652 55,436 257,088 137.204 {14,298) {42,8921 157.1901 1162.0241 Net expenditure Gross transfers befven funds 1118,493) 198.328) (216.821) {195.6591 129,220 1129,220) Net movement in funds 10,727 1227,5481 1216,821) {195,659} Reconciliation of funds Total funds brought forward 11.980) 8,747 S.784.g47 5,782,967 5.978,626 Total fvnd5 carried forward 14 5,557,3g9 5,566,146 5,782.967 Al ofthe charity's activities derive from continuing operations during the above trNO periods.
YKSJnLTrarWl Ret. SS9749JX-1(92L 12 Jul 2024 14..09..5188T(UTC +110 sn P laQ2 The Sir Tom Cowie Charitable Trust Comparative Statement of Financial Activities for the Year Ended 31 August 2022 Toial 2022 Unrastricied Rostrieted Endowmant Noie Income and Endowments from: Donations and legacies Inveslment income 5,746 5,746 97,823 97,823 Total income 97,823 5,746 103,569 Expendtture on: Raising funds Charitable activities 19,648) 63,107 128,9431 129,692 138,591) 98,613 5,814 Total expenditure Gainslllosses} on investment assets (72,755) 15,8141 158.6351 1137.2041 {40,822 1121,202 1162,024 Net expenditure Gross transfers beleen funds {15,754) {681 1179.8371 {195,6591 23,769 123.7691 Net movement in fund5 8,015 {681 1203.606) {195.6591 Reconciliation of funds Total fund5 brought forward 9,995 68 5,988.553 5,978.626 Total fvnds carried forward 14 11,980} 5,784.947 5.782.967
Rel. 859749JX*W2L 12 Jul 2024 14..09..51 8ST (UTC +1) D Sn P 11f22 The Sir Tom Cowie Charitable Trust (Registration number: 1096936) Balance Sheet as at 31 August 2023 2023 2022 Note Fixed assets Investments 11 5.539.609 5.686.019 Current a558ts Debtors Cash at bank and in hand 12 671 150,224 61.270 61,270 150,895 Cr•ditOTS: Amounts falling du• within on• y•ar 13 34.733 (53,fy17 Net current assets 26,537 96.948 Net assets 5,566.146 5,782.967 Funds of the charity: Endowment funds 5,557,399 5,784,947 Unrestricted incomfr funds Unrestricted fund5 8.747 (1.980} Total funds 14 5.566.146 5.782.967 The financial statement5 on pages 7 to 20 were aFproved by the trustee5. and autholl5ed for issue on 12 July.2024-......... and signed on their behalf by= MrDAGray Trustee
YKSJnLTrarWl Ret. SS9749JX-1(92L 12 Jul 2024 14..09..5188T(UTC +110 sn P 1¥22 The Sir Tom Cowie Charitable Trust Notes to the Financial Statements for the Year Ended 31 August 2023 1 Accounting policies Statement of compliance The financial statements have been prepared in aceordanee with Accounting and Reporting by CharÈlies= Statement of Recommended Practice applicab to charities preparing their accounts in accordance wlh the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (effective 1 January 20191- (Charities SORP IFRS 102}). the Financ¢al Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} and the ChafIe$ Act 2011. Basis of preparation The Sir Tom Cowe Charitable Trust meets the definition of a public benefit enlty under FRS 102. The accoLEnts {financial statements) have been prepared under the historical cost convention with items recryJnised at st or transaction value unless Otherwise stated in the relevant notel51 to these accounts. The functional currency is sterling. Exemption from preparing a cash flow statement The charity opted to adopt Bulletin 1 published on 2 February 2016 and have therefore not included cash flow statement in these financial statements. Going concern The trustees have considered the financial position on conclusion of this work. given the strong cash and investment balance, consider thal there are no material uncertainties about the charws abiltty to continue as a going concem. Estimation uncertainty and judgements The preparation of the financial sLitements require5 management to make judgements. estimates and assumptions that affect the amounts rewrted. Management have provtded depreciation, prepayments, accruals and other cut-off adjustments. Whilst management believe that these estimates and judgements are accurate. there is every likelihood that they wll not be exact. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 10
YKSJnLTrarWl Ret. SS9749JX-1(92L 12 Jul 2024 14..09..5188T(UTC +110 sn P l¥d2 The Sir Tom Cowie Charitable Trust Notes to the Financial Statements for the Year Ended 31 August 2023 Income and endowments Voluntary income including donations. gifts and legaeS and grants that prowde core funding or are of general nature are recognised where there is enlilement. certainty of receipt and the amount can be measured with sUffIent reliabilty. Such income is onty deferred when.. . The donor specifies thal the grant or donation must only be used in future accounting periods,. or . The donor has imposed conditions Nthich must be met before the charity has unconditional entitlement. Donations and legacies Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured. Investment ITncome Dividends are recognised once the dimdend has been declared and notification has been received of the dividend due. Income from investments is induded in incoming resources when the charity is entiljed to receipt. Expendtture l expenditure is recognised once there is a legal or constructive obligation to that expenditure, rt is pfobable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expendttijre heading that aggregale similar costs to that category. Where costs cannot be direcuy attributed to parbcular headings they have been allocated on a basis consislenl with the use of resources, wilh central staff costs allocated on the basis of time spent, and depreciation charge5 allocated on the portion of the asset's Use. Other support costs are allocated based on the spread of staff costs. Raising funds These are costs incurred in attracting voluntary income. the managemenl of investmenls and those incurred in trading activities that raise funds. Charitable activities Charitable expenditure comprises those costs inCued by the charty in the delivery of its activities and serwces for its benefiaaries. It includes both ¢x)sts that can be allocated directly lo such activities and those costs of an indirect nature necessary to support them. Govemance cost5 These include the costs attributable to the charity's ¢(pIlance wglh constitutional and statutory requirements. including audit. strategic management and trustees's meetings and reimbursed expenses. 11
YKSJnLTrarWl Ret. SS9749JX-1(92L 12 Jul 2024 14..09..5188T(UTC +110 sn P 14rd2 The Sir Tom Cowie Charitable Trust Notes to the Financial Statements for the Year Ended 31 August 2023 Taxaiion The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charilable company for UK corporation lax purposes. Accordingly. the charity is potentially exempt from taxation in respect of income or capital gains rocoivod wythin catogorios cov•r•d by Chapt•r 3 Part 11 of tho Corporation Tax Act 2010 or Soction 256 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or gains are applied exclusively to charitable purposes. Fixed asset investments Fixed asset investment5 are included at market value at the balance sheet date. Realised gain5 arKI losses on investments are calculated as the difference betrween sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited lo the Statement of Financial Ath"vities in the Feriod of disposal. Unrealised gains and losses represent the movement in market values during the year and are credited or charged lo the Statement of Financial Activities based on the market value at the year end. Trade debtors Trade and other debtors are recognised at the settlement amount due after any Irade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash and cash equivalfrnts Cash and cash equivalents comprise cash on hand and call deposits, and other short-temi highly liquid inveslments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Trade creditors Creditors and proMsion5 are recognised Mthere the charity has a present obligation resulting from past event that wll probably result in the transfer of funds to a third paty and the amount due to settle the obligation can be measured or estimated reliatly. Creditors and provisÉon are normally recognised al their settlement amount after allowing for any traje discounts due. Fund structure Unreslricled funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charrtable objects. Unrestricted funds can include designated fvnds where the trustees, at their discretion, have created a fund foi a specific purpose. Restricted funds are funds which are to be used in accordance wth SlfIe restrictions imp)sed by the donor or trust deed. The charity has an expendable endowment fund, created by a donation from Sir T(#n Cowie. The income of this fund is used to purchase properties and inveslmenls. to generate funds for the eXndItUre required lo meet the charitable objectives. The terms of the fund allow the income to be accumulated and the capital lo be spent if the trustees so determine. The intention of the truslees is to preserve the capital, as far as possible, spending Ihe income eamed from the investments. However, the truslees will continue to consider each potential application for funding on its own merit and may chLxJse to support larger applications even rf these erode the capital value of the endowment fund. The Endowment Reserve at each financial year end equates to the aggregate value of Fixed Asset Investment5, Cash held by the investment broker (which is recogni5ed in CLErrent asselsl less any lialty to pay donations Imthich are recognised in rrent Itabililiesl. 12
YKSJnLTrarWl Ret. SS9749JX-1(92L 12 Jul 2024 14..09..5188T(UTC +110 sn P IWd2 The Sir Tom Cowie Charitable Trust Notes to the Financial Statements for the Year Ended 31 August 2023 2 Income from donations and legacies Unrestricted Total 2023 Total 2022 Goiieral Donations and legacies., Donations 100 100 5,746 100 100 5,746 3 Investment income Unrestricted funds General Total 2023 Total 2022 Income from investments 97,357 97,357 97,823 13
YKSJnLTrarWl Ret. SS9749JX-1(92L 12 Jul 2024 14..09..5188T(UTC +110 sn P 16rd2 The Sir Tom Cowie Charitable Trust Notes to the Financial Statements for the Year Ended 31 August 2023 4 Expenditure on raising funds a) Investment rnanagement costs Unrestricted funds General Endowment funds Expendable Total 2023 Other inve51rnent management costs; Amounts payable to investment managers 9,422 9,422 28,268 28,268 37,690 37.690 Unrestricted funds General Endowment funds Expendable Total 2022 Other investment management costs; Arnounts payable to investsnent managers 9,648 28.943 38,591 9.648 28.943 38,591 14
YKSJnLTrarWl Ret. SS9749JX-1(92L 12 Jul 2024 14..09..5188T(UTC +110 sn P 17r22 The Sir Tom Cowie Charitable Trust Notes to the Financial Statements for the Year Ended 31 August 2023 5 Expenditur8 on charitable activitios Unr&sirieted Fund Endowment Fund Total 2023 Restrictad Charitable Donations Support Costs 178,586 13.644 178,586 40,812 27.168 192.230 27.168 219,398 Unrestricted funds General Endowment fund$ Expendable Restricted funds Total 2022 Charllable Donations 53.183 9,924 5.814 58.997 39,616 Support Costs 29,692 63,107 5,814 29.692 98,613 AGtivity undertaken directly AGtivity support costs Total 2023 Total 2022 Charitable donations Governance Costs 178,586 178,586 40,812 58,997 39,616 40.812 178.586 40.812 219,398 98,613 15
YKSJnLTrarWl Ret. SS9749JX-1(92L 12 Jul 2024 14..09..5188T(UTC +110 sn P 18rd2 The Sir Tom Cowie Charitable Trust Notes to the Financial Statements for the Year Ended 31 August 2023 6 Analysis of govornanco and support cosls Support cost5 allocated to charitable activities Governance costs Total 2023 Total 2022 Audit fees Independent Examination Fees Legal fees Trustee insurance Subscriptions Bank charges Admin support costs Bookeeping fees Internet charges 4,200 4,500 4,500 95 952 1,516 1,357 122 27,066 6,036 215 1.516 1,357 122 27,066 6.036 215 27 27,120 5,760 474 40,812 40.812 39.616 7 Trustees remuneration and expenses No trustees, nor any persons connected with them. have received any remuneration frtyn the charity during the year. No trustees have received any reimbursed expenses frcffi the charity during the year. The charty dces not employ any olheT members ol staff. 8 Independent examinerfs remuneration 2023 2022 Examination of the financial statements 4,500 hor foes to examiners AJI other serwces 6,036 16
YKSJnLTrarWl Ret. SS9749JX-1(92L 12 Jul 2024 14..09..5188T(UTC +110 sn P 1gQ2 The Sir Tom Cowie Charitable Trust Notes to the Financial Statements for the Year Ended 31 August 2023 9 Auditors. remuneration 2023 2022 Audit of the financial statements 4,200 Other fees to auditors AJI other non-audit seNices 5,760 10 Taxation The charity is a registered charity and is therefore exempt from taxation. 11 Fixed asset investments 2023 2022 other investments 5,539.609 5.686.019 hor investments Listed investments Total Cost or Valuation Al 1 September 2022 Additions Disposals and cash movement Revaluation 5.686,019 5.686,019 1.874,636 1,874.636 {1,959,877I 11,959,877) 61,169 67,169 At 31 August 2023 5.539,609 5,539.809 Net book value Al 31 August 2023 5.539,609 5,539,609 Al 31 August 2022 5,686,019 5,686,019 17
YKSJnLTrarWl Ret. SS9749JX-1(92L 12 Jul 2024 14..09..5188T(UTC +110 sn P 20f22 The Sir Tom Cowie Charitable Trust Notes to the Financial Statements for the Year Ended 31 August 2023 Historical cost of investment5 at year end was £5.213.39812022.. £4,602.1291 The investments are made up as follows: 2023 2022 UK Quoted FÉxed Interest Securitie5 UK Quoted Shares Non-UK Quoted Shares Non UK Fixed interest 1,451,696 2.216.046 1,758,546 115,454 1,080.791 2,729.527 1,744.535 131,166 5,541,742 5,686.019 No indimdual shareholding exceeds 5%. 12 Debtors 2023 2022 Accrued income 671 13 Creditors: amounts falling due within one year 2023 2022 Trade creditors Accruals 30.233 4,500 45,287 8,660 34,733 53,947 18
YKSJnLTrarWl Ret. SS9749JX-1(92L 12 Jul 2024 14..09..5188T(UTC +110 sn P 21r22 The Sir Tom Cowie Charitable Trust Notes to the Financial Statements for the Year Ended 31 August 2023 14 Funds Balance Balance at1 Other at31 September Incoming Resources recognised August 2022 resources expended Transfersgainslllossesl 2023 Unrestricted funds General 11,9801 97,457 {201,6521 129,220 {14.298) 8,747 Endowment funds Expendable 5,784,947 55,436 129,220 42,892 Total funds 5.782.967 97.457 {257.0881 {57.190) 5.566.146 Unreslricled funds comprise those funds bich the trustees are free to use for any purpose in furtherance of the chairtable objects. Unrestricted funds can include designated funds where the trustee5, at their discretion, have created a fund foi a specific purpose The charty has an expendable endowment fund. created by a donats.on from Sir Tom Cow"e. The income of this fund is used to purchase properties and inveslmenls, to generate funds for the expendiiure requlred lo meet the charltable obleclves. The terms ol the lund allow the Income to be aeeumulated and thè capital to bÈ spènt if thè trustèès so dètÈmiinÈ. The intèntion of thè trLJslÈes is to Preserve the capital, as far as possible, spending Ihe income eamed from the investments. However, the trustees will continue to consider each potenb.al application for funding on its ovm merit and may choose to support larger applications even rf these erode the capital value of the endowment fund. The Endowment Reserve at each financial year end equates to the aggregate value of Fixed Asset Investments, Cash held by the investsmenl broker (which is recognised in current assets) less any liabilty to pay donations (which are recognised in current liabililiesl. 19
YKSJnLTrarWl Ret. SS9749JX-1(92L 12 Jul 2024 14..09..5188T(UTC +110 sn P 22r22 The Sir Tom Cowie Charitable Trust Notes to the Financial Statements for the Year Ended 31 August 2023 15 Analysis of net assets between funds Unrestricted funds General Endowment funds Expendable Total funds at 31 August 2023 Fixed asset investments Current assets Current liabilities 5,539,609 37.969 120,1791 5,539,609 61,270 {34.733} 5,566.146 23.301 114,5541 Total net assets 8,747 5,557,399 Unrestricted funds General Endowment funds Expendable Total funds at 31 August 2022 Fixed asset investments Current assets Current liabilities 5,686.019 131,644 32,716 5.686.019 150.895 53,947 19.251 21,231 Total net assets 1,980 5,784,947 5,782,967 16 R¢lat¢d party Iran5aCtions During the year the charty made the followrtg relaled paty transactions.. The Sir Torn Cowie Farnily Trust 2006 The kn entities are related in that trustees Lady D Cowie, Mr D Gray and Mr P Blackett are trustees of The Sir Tom Cowe Family Tt 2006. During the year the tnjst incurred administration support costs of £27,06612022 - £27.120) and other costs of £12022 - £95}. At the balance sheet dale the amount due to The Sir Tom Comqe Family Trust 2006 was £6,78012022 - £Nil}.