##
##
|||Page|
|---|---|---|
|Legal andA~tive|Information||
|Report ofthe Trustees||2-8|
|Auditors'
Report||9- 11|
|Statement ofFinancial Activities||12|
|Balance Sheets|||
|Statement ofCash Flows|||
|Notes to the Financial Statements||16-31|
##
|Founder:|||Squadron Leader Kenneth Kime OBE|Squadron Leader Kenneth Kime OBE|Squadron Leader Kenneth Kime OBE||
|---|---|---|---|---|---|---|
|President:|||Sir Ronald Norman OBE||||
|Vice President:|||Dr Tony Gillham MBE||||
|Trustees:|||Neil Kenley||||
||||Keith Smith||||
||||Jeffiey Taylor||||
||||Heather O'Driscoll||||
||||Nigel Williams||||
||||Wendy John|||Resigned 21/01/2022|
||||Emma Read||||
|Company|Secretary||Peter Rowley OBE||||
|Chief Executive|||Hugh McGouran||||
|Registered|Company|number|05478088 (England and|Wales)|||
|Registered|Charity number||1111222||||
|Bankers|||Handelsbanken||||
||||Ground Floor||||
||||Winder House||||
||||Kingfisher
Way||||
||||Stockton on Tees||||
||||TS183EX||||
|Investment|Advisor||Investec Wealth dt Investment||Limited||
||||4th Floor||||
||||3 Wellington
Place||||
||||Leeds||||
||||LS14AP||||
|Solicitors|||Shakespeare
Martineau|LLP|||
||||No 11Colmore Square||||
||||Birmingham||||
||||B46AA||||
|Auditors|||Anderson
Barrowcliff LLP||||
||||3 Kingfisher
Court||||
||||Bowesfield Park||||
||||Stockton on Tees||||
||||TS183EX||||
|Address|||I"Floor||||
||||Corvette House||||
||||Falcon Court||||
||||Preston Farm||||
||||Stockton on Tees||||
||||TS183TX||||
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##
|||||||Consolidated|Balance Sheet|||
|---|---|---|---|---|---|---|---|---|---|
|||||||At 31March 2022||||
||||||||2022||2021|
|||||||Note||||
|Fixed assets||||||||||
|Tangible
assets||||||13|3,879||9,496|
|Investment|property|||||14|495,000||495,000|
|Investments||||||15|15/52,932||14,880,052|
||||||||15,751,811||15,384,548|
|Current
assets||||||||||
|Debtors||||||16|113,035|25,941||
|Cash at bank||and in|hand|||17|573,738|495,340||
||||||||686,773|521481||
|Creditors:|amounts||falling due within one|||||||
|year||||||18|125470|35458||
|Net current||assets|||||561/03||486,023|
|Net assets|||||||16/13,014||15,870,571|
|Financed by:||||||||||
|Restricted|funds:|||||||||
|Permanent|Endowment|||Fund||20|10,775,956|10,672,430||
|Expendable||Endowment|||Fund|22|2/18,155|2,240,413||
|Distribution||Fund||||23|1/49,762|1,051,146||
|Peat Rigg||||||14|495,000|495,000||
||||||||14,838,873||14,458,989|
|Unrestricted||funds:||||||||
|Incotne 6b Expenditure||||Fund||24|243,360|193,336||
|Designated|Distribution|||Fund||25|628,006|623,658||
|Designated|Administration||||Fund|21|602,775|594,588||
||||||||1,474,141||1,411,582|
|Total funds||||||27|16413,014||15,870,571|
|||||||||2022||2021|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||Note|||||
|Fixed assets|||||||||||
|Tangible assets||||||13||3,879||9,496|
|Investment|property|||||14||495,000||495,000|
|Investments||||||15||602,775||594,589|
|||||||||1,101,654||1,099,085|
|Current assets|||||||||||
|Debtors||||||16|111,878||20,034||
|Cash at bank||and in|hand|||17|491472||440,871||
||||||||603,450||460,905||
|Creditors:|amounts||falling||due withm one|18|||||
|year|||||||110,925||18/96||
|Net current||assets||||||492,525||442,609|
|Net assets||||||||1,594,179||1,541,694|
|Financed by:|||||||||||
|Restricted fundst|||||||||||
|Distril&ation||Fund||||23|253,044||258,770||
|Peat Rigg||||||14|495,000||495,000||
|||||||||748,044||753,770|
|Unrestricted||funds:|||||||||
|Income &Expenditure||||Account||24||243,360||193,336|
|Designated|Administration||||Fund|21||602,775||594,588|
|Total funds||||||||1494,179||1,541,694|
##
|||||||2022||2021||
|---|---|---|---|---|---|---|---|---|---|
||||||Charith||~Grou|Chah|~Grou|
|||||Note||||||
|Net cash provided
by (used in)||||33|9417||(595,675)|44,102|(410,434)|
|operating|activities|||||||||
|Cash flow|from investing|activities||||||||
|Payments|to acquire tangible||Qxed|||||||
|assets||||||||(7,363)|(7,363)|
|Interest, dividends
aud rent|||||Z1,055||310,616|11,553|291,792|
|Net proceeds on purchase||and sale of||||||||
|investments|||||20,429||342~9|18,687|193,325|
|Net cash flow used in investing||||||||||
|activities|||||41)484||653,165|22,877|477,754|
|Cash flow|from fmanctng|activities||||||||
|Receipt ofendowment|||||||20,908||14,907|
|Net cash flow provided
by||||||||||
|fmancing|activities||||||20,908||14,907|
|Change in|cash and cash|||||||||
|equivalents|in the year||||50,701||78498|66,979|82,227|
|Cash and|cash equivalents||at the|||||||
|beginning|ofthe year||||440,871||495,340|373,892|413,113|
|Cash and cash equivalents|||at the||491472||573,738|440,871|495,340|
|end ofthe|year|||||||||
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|onations
and|Legacies|||||||
|---|---|---|---|---|---|---|---|
|||||Un-||Total||
||||Restricted|Restricted
f|Endowment|2022f|2021|
|Intelligent
Investment|||||||5,900|
|Miscellaneous|Donations||660||19g08|20,568|22,225|
|Redcar Borough Council|||||||10,000|
|Sirius Minerals|||||||10,000|
|Valerie Jones Music Fund|||||||80,338|
|The Prochorus|Fund||||1,000|1,000|1,500|
|Cowie Technology
Group|||12,000|||12,000|22,000|
|Middlesbrough|Community|Fund|2434|||2,534||
||||15,194||20,908|36,102|151,963|
##
##
##
|Raising Funds||||||||||
|---|---|---|---|---|---|---|---|---|---|
||||Un-|||||||
||||restricted||Restricted|Endowment||Total||
||||2022f||2022f||2022|2022|2021|
|Salaries|||12,678|||||12,678|12,485|
|Investment
management||||||||||
|costs|||6,034||||60,448|66,482|61,827|
|General offfce costs|||2,583|||||2/83|5,692|
|Other costs|||1,695|||||1,695|790|
||||22890||||60,448|83,438|80,794|
|2021|||24,586||||56308|80,794||
|Charitable
Activities - Grant||Making||||||||
|||Unrestricted||funds|Restricted||funds|Total||
|||2022
f||2021
f.|2022
f||2021|2022
f.|2021|
|Direct Costs||||||||||
|Salaries|||||13,491||10,724|13,491|10,724|
|Grants awarded||25,025||17,900|392,723||340,636|417,748|358,536|
|Grants returned/written||||||||||
|back
Support Costs|||||(295)||(3,885)|(295)|(3,885)|
|Salaries
Marketing &advertising||108,102
9~2||106,448
7,895||||108,102
9442|106,448
7,895|
|Insurance||7,521||7,061||||7,521|7,061|
|Heat & light||114||467||||114|467|
|Telephone||242||1,518||||242|1,518|
|Prmtmg,
stationery|&|267||1,024||||267|1,024|
|postage||||||||||
|Office equipment|and rental|280||1,189||||280|1,189|
|Computer
expenses||2,336||7,843||||2436|7,843|
|Bank charges||340||352||||340|352|
|Rent &rates||70132||14,262||||7„0132|14362|
|Sundry
expenses||1,382||1,155||||1482|1,155|
|Depreciation||4,550||5,158||||4,550|5,158|
|Subscriptions||I@25||1,582||||I/25|1,582|
|TIaunng||648||||||648||
|Premises expenses||||5,767|||||5,767|
|Governance
costs|(note 7)|35,926||52,790||||350926|52,790|
|||205,532|232,411||405,919||347,475|611,451|579,886|
##
##
##
|nalysis|ofGovern|ance
Costs|||||||
|---|---|---|---|---|---|---|---|---|
||||Unrestricted|funds|Restricted|funds|Total||
||||2022|2021|2022|2021|2022|2021|
|||||||5|||
|Sahries
General office costs|||12,678
2483|12,485
5,692|||12,678
2~|12,485
5,685|
|Auditors|remuneration||5,000|4,800|||5,000|4,800|
|Other accountancy||fees|12,031|12,368|||12,031|12,368|
|Legal 6?|professional||1,939|16,655|||2,139|16,655|
|Other costs|||1,695|790|||1,695|790|
||||35rt26|52,790|||35rt26|52,790|
|Charitable
Activities - Advice|||and Guidance||||||
||||Unrestricted|funds|Restricted|funds|Total||
||||2022|2021|2022|2021|2022|2021|
||||||f||||
|Direct Costs|||||||||
|Salaries|||||4,476|5,270|4,476|5470|
|Grants awarded|||||45,914|43,400|45rt14|43,400|
|Intelligent|Investment||||||||
|external|costs|||||5,900||5,900|
|Power to|Change external||||||||
|cosfs|||||70,521|51,965|70,521|51,965|
|VONNE|(LARCH||||||||
|Partnership
Program)|||||6485||6485||
||||||127,496|106,535|127,496|106,535|
##
|||||||Number|ofEmployees|
|---|---|---|---|---|---|---|---|
|||||||2022|2021|
||A minisiration|||||||
||Grant making||support||costs|||
||Fundraising|||||||
||Total|||||||
|11|Staff costs and||Trustees'||remuneration|||
|||||||2022|2021|
|||||||f.||
||Salaries|||||136,175|132,485|
||Employer's|National||Insurance||8,402|8,200|
||Pension Contributions|||||6,848|6,726|
||Total|||||151,425|147,411|
##
##
|2022|2021|
|---|---|
|number|Number|
##
##
##
|Tangible
Assets||||
|---|---|---|---|
||Computer|Fixtures dt||
||Equipment|Fittings|Total|
|Cost||||
|At 1April 2021 and 31March 2022|25,850|14,668|40,518|
|Depreciation:||||
|At I April 2021|16,550|14,472|31,022|
|Charge for the year|5,461|156|5,617|
|At 31March 2022|22,011|14,628|36,640|
|Net BookValue:||||
|31March 2022|3,839|40|3,879|
|31March 2021|9,300|196|9,496|
|Investment
property||||
||||Total|
||||f|
|Fair Value:||||
|At 1 April 2021 and 31March 2022|||495,000|
|Net BookValue:||||
|31March 2022|||495,000|
|31March 2021|||495,000|
##
##
##
|Investments|are state|d at f|air value as at 31Ma|rch 2022 and comprise t|he following:-|||
|---|---|---|---|---|---|---|---|
|||||Company|Group|Company|Group|
|||||2022|2022|2021|2021|
|Government|stocks|||36,920|934+53|36,945|924,579|
|Other fixed|mterest|stocks||43,710|1,106,070|51,775|1495,716|
|UK equities||||156416|3,955,504|173,604|4,344,581|
|Investment|trusts/funds|||106411|2&695+04|102302|2,557,679|
|Overseas
equities||||238,713|6,040409|219,329|5,488,869|
|Deposit account||||20,605|521@92|10,734|268,628|
|||||602,775|15352&932|594,589|14,880,052|
|Analysed
as follows:-||||||||
|Investment|assets in (UK)|||349,929|8,854,773|353,829|8,854,851|
|Investment|assets outside||(UK)|252,846|6498,159|240,760|6,025401|
|||||602,775|15452932|594,589|14,880,052|
|||||||2022f||
|Balance as|at I April 2021|||||14,8S0,052||
|Additions||||||910,711||
|Increase in|market value||ofinvestments|||462418||
|Disposals||||||(1~6,024)||
|Profit on disposal ofinvestments||||||253411||
|Movement|on cash balances held|||||252,764||
|Balance as|at 31March 2022|||||15452&932||
|Debtors||||||||
|||||Company|Group|Company|Group|
|||||2022|2022|2021f|2021|
|Grants &donations||receivable||100,458|100,458|||
|Prepayments|and accrued||income|2,016|10,077|2,016|10,783|
|Other debtors||||9,404||18,018|5,946|
|Concessionary
loans|||||2,500||9312|
|||||111,878|113,035|20,034|25,941|
|Included
in concessionary|||loans isfNil (2021:f3,333)due within more||than one year.|||
|Cash at bank and in||hand||||||
|||||Company|Group|Company|Group|
|||||2022|2022|20201|2021|
|Bank; Bank|accounts|&cash||491,572|573,738|440,871|495,340|
##
##
|reditors:|Amounts
falling due within on|e year||||
|---|---|---|---|---|---|
|||Company|Group|Company|Group|
|||2022|2022|2021|2021|
||||||f.|
|Grants payable|||666||3,332|
|Trade creditors||55|55|427|427|
|Accruals|and deferred income|110,553|124,532|14,720|28,350|
|Taxation|and social security|317|317|3,149|3,149|
|||110,925|125470|18796|35/58|
##
|Measured|at|fair value through|mcome or expenditure.|||||
|---|---|---|---|---|---|---|---|
|||||Company|Group|Company|Group|
|||||2022|2022|2021|2021|
|Investments||(note 15)||602,775|15452,932|594,589|14,880,052|
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##
##
##
##
||||||||Net||
|---|---|---|---|---|---|---|---|---|
|||||Investment||Tangible|Current||
|||||Property|Investments|Assets|Assets|Total|
|Permanent|Endowment|Fund|||10,775,956|||10,775H6|
|Designated|Administration||Fund||602,775|||602,775|
|Expendable|Endowment||Fund||2,318,155|||2,318,155|
|Restricted|Distribution|Fund|||928,040||321,722|1~9,762|
|Peat Rigg
Unrestricted|Income 4|||495,000||||495,000|
|Expenditure|Fund|||||3,879|239,481|243,360|
|Designated|Distribution|Fund|||628,006|||628,006|
|At 31March 2022||||495,000|15452,932|3,879|561/03|16413,014|
|At 31March 2021||||495,000|14,880,052|9,496|486,023|15,870,571|
|Control Relationships|||||||||
##
|leveland
Community
Foundation:-||||
|---|---|---|---|
|||2022|2021|
|Admin
charge transferred
from Cleveland|Community|||
|Foundation
to Tees Valley Community|Foundation|236P36|208,386|
|Grants awarded
from Cleveland
Community
Foundation||||
|to Tees Valley Community
Foundation|||5,900|
##
##
##
##
##
|Tees Valley|Community|Foundation|Foundation|Foundation|operates|a total return|a total return|mvestment|strategy|and transfers|income fiom its|
|---|---|---|---|---|---|---|---|---|---|---|---|
|funds to pay|for grants and running|||costs. The||movements|on|Unapplied|Total Return inrespect||ofthe Permanent|
|Endowment|Funds are:-|||||||||||
||||||||||2022f|||
|Balance as|at 1 April 2021|||||||2,130,688||||
|Transferred|to Income|&Expenditure|||Fund|fmm Permanent||||||
|Endowment|Funds|||||||(163,892)||||
|Transferred|to Distribution||Funds|||||(425342)||||
|Total Return for the period|||(income,||realised|gains/losses||||||
|snd changes in market||value)|||||||678,940|||
|Closing balance carried||forward at 31March||||2022||2,220@94||||
|Operating
Lease Commitments||||||||||||
|Total future mmimum
lease|||payments||under non-cancellable|||operating|leases are|as follows:||
||||||||||2022||2021|
|Land &buildings||||||||||||
|Expiry:||||||||||||
|Within
one|year||||||||2,500||2,500|
||||||||||2,500||2,500|
##
##
##
##
||Company|Group|Company|Group|
|---|---|---|---|---|
||2022|2022f|2021|2021
f,|
|Net income/(expenditure)
for year|52,485|442,443|161,269|2,475,648|
|Interest, dividends
and rent shown in|||||
|invesfillg
acnvifies
Depreciation oftangible fixed assets
Loss on disposal offixed assets|(21,055)
5,617|(310,616)
5&617|(11,553)
6,197
170|(291,792)
6,197
170|
|Receipt ofendowment||(20,908)||(14,907)|
|(Gahs)/losses
on investments|(28,615)|(715,429)|(109,301)|(2,591,101)|
|(increase)/decrease
m debtors|(91,844)|(87,094)|(4,458)|7,527|
|Increase/(decrease)
in creditors|92,629|90@12|1,778|(2,176)|
||9417|(595,675)|44,102|(410,434)|
##
##
||Total|G|ra
a
for the Year En|I
arch 2022|
|---|---|---|---|---|
|Bedplmts ofinstitutional|grant(s)|||Amount
Awarded|
|9th Hartlepool
Scout Group||||f2,500|
|AWay Out||||f2,500|
|Advice atHeart||||f2,000|
|Age UK Teesside||||f1,000|
|Artisans||||f2,000|
|Asthma Relief||||f2,950|
|BCTAspire CIC||||f10,000|
|Billingham
Boxing Club||||f1,000|
|Billinghsm
Environmental|Link|Programme||f9,414|
|Billingham
GolfClub||||fg40|
|Billingham
Legacy Foundation
Billingham
Rugby Club||||f11,460
f900|
|Billingham
Synthonia
Juniors (Under gs)||||f2,500|
|BloominArt
CIC||||f2,000|
|Catalyst Stockton||||f11,000|
|Christ Church Mission||||f2,500|
|Cleveland Alzheimer's
Residential|||Centre|f2,500|
|Cleveland Classics Netball||||f1,000|
|Cleveland Golf Club||||f2,000|
|Cleveland Mountain
Rescue Team||||f2,500|
|Cleveland
Orienteering
Klub (CLOK)||||f2,000|
|Cleveland
School Cricket|Association|||f.1,000|
|Close-Knit CIC||||f.1,600|
|Coastwatch Redcar||||f665|
|Corner House Youth Pmj|act|||f1,000|
|Cowpen Bewley Residents||||f,1,000|
|Diversity Inside Us||||f700|
|Dots n Spots Day Nursery|and Out||ofSchool Club LTD|f2,000|
|DS43 Community
Defib||||f2/00|
|Durham University||||f765|
|Egglescliffe School||||f761|
|Eldon Gmve Tennis Club||||f1,000|
|Elmtree
dt Fairfeild WI||||f.1,000|
|Embrsce4support||||f2,500|
|Eva Womens Aid||||f,1400|
|Festival ofThrill||||f5,000|
|Friday Friends||||f.l,950|
|Future Regeneration ofGrangetown|||(FROG)|f950|
|Great Broughton Film Society||||f,l,000|
|Green Sky Fitness CIC||||f.1,000|
|Guisborough
and East Cleveland||Sea Cadets||f1,000|
|Guisborough
in Bloom||||f900|
|Happy Days Children's
Charity||||f1,000|
|Harbour
Support Services||||f2,000|
|Hsrtlepool
Coastal Survelliance||Station||f2,000|
|Hsrtlepool
Hawks Cheerleading||Academy||f1,000|
||||ta|ran|arded for the Year E
1||
|---|---|---|---|---|---|---|
|Recipients ofinstitutional|||grant(s)|||Amount
Awarded|
|Hartlepool
People||||||f.1,000|
|Havelock Park Residents|||Association|||f,1,000|
|Hopefields
Education|CIC|||||f936|
|JPC Community
Farm||||||f500|
|Kathryn Wetherley||||||f250|
|KHS Friends (supporting|||Kirkleatham||Hall Special School)|f.1,000|
|Kirkleatbam
Parish||||||f1,000|
|Lakota Hub CIC||||||f1,900|
|Leo's Neonatal||||||f13+50|
|LilyAnne's
C.I.C.||||||f,1,000|
|Liverton Parochial Church Council||||||f.1,000|
|Low Grange Community|||Centre|||f1,000|
|Marske Sports and Recreational||||Parinership||f1,000|
|Middlesbrough
FCFoundation||||||f5,000|
|Middlesbrough
Mela||||||f5,000|
|Middlesbrough
NHW|(Neighbourhood||||Welfare Middlesbrough)|f,1,000|
|Middlesbrough
Roller|Hockey|||||f1,000|
|Nite Light CIC||||||f.1,000|
|North East Autism Society||||||f1,000|
|Norton Bowling Club||||||f1,000|
|Norton Hockey Club||||||f.1,000|
|Norton Squash Club||||||f700|
|Norton Tennis Club||||||f1,000|
|Nuvo Wellbeing||||||f1,000|
|Oaksway Netball Club||||||f.1,000|
|Orchard Eagles||||||f385|
|Peat Rigg||||||f65,000|
|Pilot Theatre||||||f950|
|RCVDA||||||f12,500|
|RDA Centre in Cleveland|||Ltd|||f.1,000|
|RDA Group Teesside
Reachout Ministries||||||Xi+50
f5,000|
|Redcar and Cleveland|Council|||||f5,500|
|Redcsr And Cleveland||Mind||||f960|
|Redcar Literary Institute||||||f,12/75|
|Redcar Mind||||||f850|
|Ropner Park Bowling||||||f500|
|Rosebeny Community||Consoriium||||&l50|
|Safer Communities||||||f7,000|
|Saltbum Folk Festival||||||f1,000|
|Saltbum Friends ofthe||Valley||||f1,500|
|Sew4Linus||||||f.1,000|
|SirWilliam Turner Hospital Residents|||||Association|f500|
|Skelton Bowls Club||||||f2,000|
|Skelton Cricket Club||||||f36,500|
|Sowing Seeds Ministries||||||f5,000|
##
|Reelplents oftnsttluttonal
grant(s)|Reelplents oftnsttluttonal
grant(s)||Awarded|
|---|---|---|---|
|StColumba's
United Reformed|Church||f1,000|
|STMarks Church|||f.1,000|
|Stockton Council|||f790|
|Submit 2 Success|||f.1,000|
|TEES|||f1,000|
|Tees Ability Support Centre|||f2,500|
|Tees Active|||f880|
|Tees Active (Thomaby Indoor|bowls)||f1,480|
|Tees and Hartlepool Yacht Club|||f2,500|
|Tees VaHey Community
Project|||f7,460|
|Tees Valley Wildlife Trust|||f5,475|
|Tees Valley Women's
Centre|||f1,600|
|Teesside Ability Support Centre
Teesside Community
Action Group|||f750
f1,000|
|Teesside Dementia Link|||f.750|
|Teesside Hospice|||f5,161|
|Teesside Stroke Club|||f750|
|Teesside University|||f24,000|
|Tfin Cash for Kids|||f50,932|
|The Chrislmas
Dinner Middlesbrough||and Teesside|f,1,000|
|The Five Lamps Organisation|||f1,000|
|The Genesis Project Middlesbrough|||f2,440|
|The Link Charitable
Trust|||f,1,000|
|The Loflus Community
Special Event||Group|f1,000|
|The Marske Centre|||f864|
|The Moses Project|||f5,000|
|The Russ Devereux Headlight|Project||f.1,000|
|The Seasonal Singers|||f1,865|
|The Wharton Trust|||f,10,000|
|Ubuntu
Multicultural
Centre CIC|||f1,000|
|Vision 25|||f750|
|Volunteering
Matters|||f575|
|Yarm Youth dtCommunity|||f2,500|
|Yearby Resident's Association|||f979|
|Youth Focus North East|||f2,500|
|Zoe's Place Baby Hospice|||f,750|
|Total grdndr
trr insNtu&ns|||&l$9,662|
|Tstrrl grants tb IrlrflvfrfnnIs||||