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Charity registration number: 1096936
The Sir Tom Cowie Charitable Trust
Annual Report and Financial Statements
for the Year Ended 31 August 2023

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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

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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

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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.

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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 aP￿Ication 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 a￿1 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.

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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
chari￿5 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-

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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

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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

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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 befv￿en
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.

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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 be￿leen
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

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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

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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 ChafI￿e$ 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

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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 lega￿eS 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 sUffI￿ent 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 inCu￿ed 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

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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 S￿lfIe 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
eX￿ndItUre 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
lia￿lty to pay donations Imthich are recognised in ￿rrent Itabililiesl.
12

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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

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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

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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

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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

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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

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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

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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

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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 T￿￿t 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}.