| Page | ||||
|---|---|---|---|---|
| Reference | and administrative | details | ||
| Trustees' | report | 2-5 | ||
| Trustees' | responsibilities statement |
|||
| Independent auditor's |
report | |||
| Statement | offinancial | activities | 12 | |
| Balance sheet | 13 | |||
| Statement | ofcash flows | 15 | ||
| Notes to the financial | statements | 16-24 |
| Unrestricted | Total | Total | |||
|---|---|---|---|---|---|
| funds | funds | funds | |||
| 2020 | 2020 | 2019 | |||
| Note | |||||
| Income from: | |||||
| Donations and legacies |
2 | 1,280,000 | 1,280,000 | 1,252,588 | |
| Investments | 3 | 237,039 | 237,039 | 304,329 | |
| Total income | 1,517,039 | 1,517,039 | 1,556,917 | ||
| Expenditure on: |
|||||
| Investment management |
fees | 170,812 | 170,812 | 147,208 | |
| Charitable activities |
1,295,540 | 1,295,540 | 1,209,945 | ||
| Total expenditure | 1,466,352 | 1,466,352 | 1,357,153 | ||
| Net income before net gains on investments | 50,687 | 50,687 | 199,764 | ||
| Net gains on investments | 5,046,070 | 5,046,070 | 4,458,919 | ||
| Net movement in funds |
5,096,757 | 5,096,757 | 4,658,683 | ||
| Reconciliation offunds: |
|||||
| Total funds brought forward |
28,251,806 | 28,251,806 | 23,593,123 | ||
| Net movement in funds |
5,096,757 | 5,096,757 | 4,658,683 | ||
| Total funds carried forward | 33,348,563 | 33,348,563 | 28,251,806 |
| Note | 2020f | 2019 | |||||
|---|---|---|---|---|---|---|---|
| Fixed assets | |||||||
| Investments | 31,154,536 | 24,914,424 | |||||
| Programme related |
investments | 57,984 | 75,179 | ||||
| Total investments | 31,212,520 | 24,989,603 | |||||
| Current assets | |||||||
| Debtors | 227,440 | ||||||
| Cash at bank and in hand | 3,257,549 | 4,542,778 | |||||
| 3,484,989 | 4,542,778 | ||||||
| Creditors; amounts | falling | due within one | |||||
| year | 9 | (1,348,946) | (1,280,575) | ||||
| Net current assets | 2,136,043 | 3,262,203 | |||||
| Total assets less current | liabilities | 33,348,563 | 28,251,806 | ||||
| Total net assets | 33,348,563 | 28,251,806 | |||||
| Charity funds | |||||||
| Restricted funds | 10 | ||||||
| Unrestricted funds |
10 | 33,348,563 | 28,251,806 | ||||
| Total funds | 33,348,563 | 28,251,806 |
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Note | |||||
| Cash flows from operating | activities | ||||
| Net cash generated by / (used in) operating |
activities | 11 | (345,421) | 158,795 | |
| Cash flows from Investing | activities | ||||
| Dividends, interests and rents from investments |
237,039 | 304,329 | |||
| Proceeds from sale ofinvestments | 4,637,672 | 3,725,094 | |||
| Purchase ofinvestments | (5,831,714) | (3,867,243) | |||
| Receipts from programme related investments |
17,195 | 33,728 | |||
| Net cash (used in)/provided | by investing | activities | (939,808) | 195,908 | |
| Change in cash and cash |
equivalents in |
the year | (1,285,229) | 354,703 | |
| Cash and cash equivalents | at the beginning | ofthe year | 4,542,778 | 4,188,075 | |
| Cash and cash equivalents | at the end of | the year | 12 | 3,257,549 | 4,542,778 |
| The notes on pages 16to 24 form part ofthese financial statements |
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2020 | 2020 | 2019 | |
| Income from listed investments | 227,845 | 227,845 | 280,182 |
| Loan interest | 763 | 763 | 1,427 |
| Bank interest | 8,431 | 8,431 | 22,720 |
| 237,039 | 237,039 | 304,329 | |
| Total 2019 | 304,329 | 304,329 |
| Grant | |||||
|---|---|---|---|---|---|
| funding of |
Support | Total | Total | ||
| activities | costs | funds | funds | ||
| 2020 | 2020f | 2020f | 2019 | ||
| Grants awarded | (note 5) | 1,291,653 | 3,887 | 1,295,540 | 1,209,945 |
| Total 2019 | 1,206,150 | 3,795 | 1,209,945 |
| Total | Total | |
|---|---|---|
| funds | funds | |
| 2020 | 2019 | |
| R | ||
| Sundryexpenses | 287 | 195 |
| Audit fee | 3,600 | 3,600 |
| 3,887 | 3,795 |
| Unrestricted | Total | Total | ||||
|---|---|---|---|---|---|---|
| funds | funds | funds | ||||
| 2020 | 2020 | 2019 | ||||
| E | ||||||
| Beamish Museum | 50,000 | |||||
| Blyth STEM | 50,000 | 50,000 | ||||
| Calvert Trust | 200,000 | 200,000 | ||||
| Cambridge University |
Eco | Racing | 20,000 | |||
| Centre for Life | 10,000 | 10,000 | ||||
| Cranfield University |
30,000 | 30,000 | ||||
| Discovery Museum | 80,000 | 80,000 | 25,000 | |||
| Enthuse | 40,000 | |||||
| First Lego | 38,650 | 38,650 | ||||
| Green Power | 37,000 | |||||
| IET | 28,000 | 28,000 | ||||
| Kielder Observatory | 25,000 | 25,000 | ||||
| Maggies Centre, | Freeman | Hospital | 50,000 | 50,000 | 100,000 | |
| National Literacy |
Trust | 30,362 | 30,362 | |||
| Newcastle United |
Foundation | 307,030 | ||||
| Nissan | 41,000 | 41,000 | 105,845 | |||
| Northumberland | National | Park | 250,000 | 250,000 | ||
| Newcastle University |
30,000 | 30,000 | ||||
| Primary Engineer | programme | 25,000 | 25,000 | |||
| Royal Institution | 90,000 | |||||
| Sheffield University |
14,000 | 14,000 | 37,800 | |||
| StCuthberts School |
21,000 | 21,000 | 21,000 | |||
| Success for all | 40,000 | 40,000 | 40,000 | |||
| Teen Tech | 36,000 | 36,000 | ||||
| RGS | 85,000 | 85,000 | ||||
| The Sill | 20,000 | 20,000 | ||||
| Tyne River Trust | 70,000 | 70,000 | ||||
| Villiers Park | 100,000 | 100,000 | 121,751 | |||
| Westfield School | 25,112 | |||||
| Other grants (below f20,000) | 79,211 | 79,211 | 185,612 | |||
| Grants from prior | years released | (61,570) | (61,570) | |||
| 1,291,653 | 1,291,653 | 1,206,150 |
| Listed | ||||
|---|---|---|---|---|
| investmentsf | ||||
| Cost or valuation | ||||
| At 1 January | 2020 | 24,914,424 | ||
| Additions | 5,831,714 | |||
| Disposals | (5,021,147) | |||
| Revaluations | 5,429,545 | |||
| At 31 December 2020 | 31,154,536 | |||
| Net book value | ||||
| At 31 December 2020 | 31,154,536 | |||
| At 31 December 2019 | 24,914,424 | |||
| 7. | Programme | related investments | ||
| Programme | ||||
| related | ||||
| investmentsf | Totalf | |||
| Cost or valuation | ||||
| At 1 January | 2020 | 75,179 | 75,179 | |
| Repayments | (17,195) | (17,195) | ||
| At 31 December 2019 | 57,984 | 57,984 | ||
| 8. | Debtors | |||
| 2020f | 2019f | |||
| Due within | one year | |||
| Amounts owed by related undertakings |
226,903 | |||
| Prepayments | and accrued income | 537 | ||
| 227,440 |
| 2020f | 2019 | |||
|---|---|---|---|---|
| Grants awarded | but not yet paid | 1,345,346 | 1,276,975 | |
| Accruals and deferred | income | 3,600 | 3,600 | |
| 1,348,946 | 1,280,575 |
| Balance at | ||||||
|---|---|---|---|---|---|---|
| Balance at 1 | 31 | |||||
| January | Gains/ | December | ||||
| 2020f | Income | Expenditure | (Losses)f | 2020 R |
||
| Unrestricted | funds | |||||
| General funds | 28,251,806 | 1,517,039 | (1,466,352) | 5,046,070 | 33,348,563 | |
| Statement of | funds - prior year | |||||
| Balance at | ||||||
| Balance at | 31 | |||||
| 1 January | Gains/ | December | ||||
| 2019f | Income F |
Expenditure F |
(Losses)f | 2019 F |
||
| Unrestricted | funds | |||||
| General funds | 23,593,123 | 1,556,917 | (1,357,153) | 4,458,919 | 28,251,806 |
| 2020 | 2019 | |||||
|---|---|---|---|---|---|---|
| F | ||||||
| Net income for the period (as per Statement | of Financial Activities) | 5,096,757 | 4,658,683 | |||
| Adjustments for: |
||||||
| Gains on | investments | (5,046,070) | (4,458,919) | |||
| Dividends, | interests | and rents | from investments | (237,039) | (304,329) | |
| Decrease/(increase) | in debtors | (227,440) | ||||
| Increase | in creditors | 68,371 | 263,360 | |||
| Net cash | provided | by/(used | in) operating | activities | (345,421) | 158,795 |
| 2020 | 2019 | ||
|---|---|---|---|
| F | |||
| Cash | in hand | 3,257,549 | 4,542,778 |
| Total | cash and cash equivalents | 3,257,549 | 4,542,778 |
| At 1 | At 31 | |||||||
|---|---|---|---|---|---|---|---|---|
| January | December | |||||||
| 2020 | Cash flows | 2020 | ||||||
| Cash | at | bank | and | in | hand | 4,542,778 | (1,285,229) | 3,257,549 |
| 4,542,778 | (1,285,229) | 3,257,549 |