| Page | ||
|---|---|---|
| Trustees' report |
1-4 | |
| Statement oftrustees' | responsibilities | |
| Independent auditor's |
report | |
| Statement offinancial | activities | |
| Balance sheet | ||
| Statement ofcash flows | 12 | |
| Notes to the financial | statements | 13-23 |
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |||
|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||||
| 2022 | 2022 | 2022 | 2021 | 2021 | 2021 | |||
| Notes | F | F | F | F | F | |||
| Income and endowments | from: | |||||||
| Donations and |
||||||||
| legacies | 2 | 19,699,999 | 200,000 | 19,899,999 | 269,997 | 510,000 | 779,997 | |
| Investments | 3 | 649,811 | 133 | 649,944 | 429,740 | 429,740 | ||
| Other income | 4 | 500,000 | 500,000 | 8 | 8 | |||
| Total income | 20,849,810 | 200,133 | 21,049,943 | 699,745 | 510,000 | 1,209,745 | ||
| Ex enditure on: | ||||||||
| Raising funds | 137,142 | 137,142 | 105,180 | 105,180 | ||||
| Charitable activities |
6 | 1,576,509 | 322,455 | 1,898,964 | 1,576,913 | 1,576,913 | ||
| Total expenditure | 1,713,651 | 322,455 | 2,036,106 | 1,682,093 | 1,682,093 | |||
| Net gains/(losses) | on | |||||||
| investments | 10 | 9,413,556 | 9,413,556 | (2,051,174) | (2,051,174) | |||
| Net movement | in | funds | 28,549,715 | (122,322) | 28,427,393 | (3,033,522) | 510,000 | (2,523,522) |
| Fund balances | at 1 January | |||||||
| 2022 | 28,287,714 | 510,000 | 28,797,714 | 31,321,236 | 31,321,236 | |||
| Fund balances | at | 31 | ||||||
| December 2022 | 56,837,429 | 387,678 | 57,225,107 | 28,287,714 | 510,000 | 28,797,714 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Notes | ||||||
| Fixed assets | ||||||
| Tangible assets | 12 | 1,092 | 1,365 | |||
| Investments | 13 | 53,334,756 | 28,251,302 | |||
| 53,335,848 | 28,252,667 | |||||
| Current assets | ||||||
| Debtors | 515,983 | 436,948 | ||||
| Cash at bank and in | hand | 3,458,679 | 122,242 | |||
| 3,974,662 | 559,190 | |||||
| Creditors: | amounts | falling | due within | |||
| one year | 15 | (85,403) | (14,143) | |||
| Net current | assets | 3,889,259 | 545,047 | |||
| Total assets less current | liabilities | 57,225,107 | 28,797,714 | |||
| Income funds | ||||||
| Restricted | funds | 16 | 387,678 | 510,000 | ||
| Unrestricted | funds | |||||
| Designated | funds | 17 | 220,750 | 700,565 | ||
| General unrestricted |
funds | 56,616,679 | 27,587,149 | |||
| 56,837,429 | 28,287,714 | |||||
| 57,225,107 | 28,797,714 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Notes | ||||||
| Cash flows from operating | activities | |||||
| Cash generated from/(absorbed by) |
20 | |||||
| operations | 18,356,391 | (1,288,663) | ||||
| Investing | activities | |||||
| Purchase | of investments | (39,394,849) | (5,938,642) | |||
| Proceeds | from disposal of investments | 23,724,951 | 6,409,385 | |||
| Investment | income received | 649,944 | 429,740 | |||
| Net cash | (used in)/generated | from | ||||
| investing | activities | (15,019,954) | 900,483 | |||
| Net cash | used in financing |
activities | ||||
| Net increase/(decrease) in |
cash and | cash | ||||
| equivalents | 3,336,437 | (388,180) | ||||
| Cash and | cash equivalents at beginning |
ofyear | 122,242 | 510,422 | ||
| Cash and | cash equivalents | at end of | year | 3,458,679 | 122,242 |
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |||
|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||||
| 2022 | 2022 | 2022 | 2021 | 2021 | 2021 | |||
| f. | ||||||||
| Donations | and | gifts | 19,699,999 | 200,000 | 19,899,999 | 269,997 | 510,000 | 779,997 |
| Unrestricted | Restricted | Total | Unrestricted | ||
|---|---|---|---|---|---|
| funds | funds | funds | |||
| 2022 | 2022 | 2022 | 2021 | ||
| Income | from listed investments | 548,002 | 548,002 | 429,646 | |
| Interest | receivable | 101,809 | 133 | 101,942 | 94 |
| 649,811 | 133 | 649,944 | 429,740 |
| Unrestricted | Total | |||
|---|---|---|---|---|
| funds | ||||
| 2022 | 2021 | |||
| Gift Aid income | 500,000 | |||
| 5 | Raising funds | |||
| 2022 | 2021 | |||
| Investment | management | 137,142 | 105,180 | |
| 137,142 | 105,180 |
| Total | Total | ||
|---|---|---|---|
| 2022 | 2021 | ||
| Staff costs | 18,593 | 18,683 | |
| Depreciation | and impairment | 273 | 342 |
| Website | 970 | 971 | |
| Postage | 378 | 387 | |
| Event organisation | 8,000 | ||
| Travel | 370 | 201 | |
| Consultancy | 24,000 | 24,000 | |
| Sundries | 1,954 | 1,677 | |
| Bank charges | 13,062 | 747 | |
| Phone | 595 | 519 | |
| Audit fees | 12,000 | 7,680 | |
| 80,195 | 55,207 | ||
| Grants made | to institutions | 1,818,769 | 1,521,706 |
| 1,898,964 | 1,576,913 | ||
| Analysis by |
fund | ||
| Unrestricted | funds | 1,576,509 | |
| Restricted funds | 322,455 | ||
| 1,898,964 | |||
| For the year | ended 31 December 2021 | ||
| Unrestricted | funds | 1,576,913 | |
| 1,576,913 |
| Grants were made during | Grants were made during | the | year to institutions, | year to institutions, | ofwhich the following exceeded f20,000 per annum: | |
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| F | F | |||||
| BCTAspire CIC | 37,000 | |||||
| Berwick Youth Project | 25,000 | |||||
| Blyth Tall Ship | 25,000 | |||||
| Changing Futures North East |
30,000 | |||||
| Coatham House |
20,000 | |||||
| Community Campus |
20,000 | 20,000 | ||||
| Cowpen Quay Community |
Association | 24,122 | 20,000 | |||
| Cramlington Voluntary |
Youth | Programme | 2 | 30,000 | 20,000 | |
| First Stop Darlington | 20,000 | |||||
| Kinship | 20,000 | |||||
| Neighbourhood Youth |
Projects | 166,300 | ||||
| Save the Children (Wallsend |
Children' s | |||||
| Community) | 100,000 | 83,333 | ||||
| STAMP Revisited | 20,000 | |||||
| Silverline Memories CIO |
20,000 | |||||
| Streetwise Young People's Project |
50,000 | |||||
| Sunderland All Together Consortium |
95,000 | 80,000 | ||||
| Wansbeck CVS | 27,167 | |||||
| YMCA Northumberland | 25,000 | |||||
| 528,289 | 449,633 |
| The average | monthly number ofemployees during th |
e year was: | |
|---|---|---|---|
| 2022 | 2021 | ||
| Number | Number | ||
| Employment | costs | 2022 | 2021 |
| E | E | ||
| Wages and salaries | 18,225 | 18,215 | |
| Other pension costs | 368 | 468 | |
| 18,593 | 18,683 |
| Unrestricted | Unrestricted | |||
|---|---|---|---|---|
| funds | funds | |||
| 2022 | 2021 | |||
| F | F | |||
| Revaluation | of | investments | (1,351,265) | (2,327,495) |
| Gain/(loss) | on | sale of investments | 10,764,821 | 276,321 |
| 9,413,556 | (2,051,174) |
| Tangible fixed assets | ||
|---|---|---|
| Fixtures, fittings &equipment | ||
| Cost | ||
| At 1 January 2022 | 2,886 | |
| At 31 December 2022 | 2,886 | |
| Depreciation and impairment |
||
| At 1 January 2022 | 1,521 | |
| Depreciation charged |
in the year | 273 |
| At 31 December 2022 | 1,794 | |
| Carrying amount |
||
| At 31 December 2022 | 1,092 | |
| At 31 December 2021 | 1,365 |
| Fixed asset investments | |
|---|---|
| Listed | |
| investments | |
| E | |
| Cost or valuation | |
| At 1 January 2022 | 28,251,302 |
| Additions | 39,394,849 |
| Valuation changes |
(1,351,265) |
| Disposals | (12,960,130) |
| At 31 December 2022 | 53,334,756 |
| Carrying amount |
|
| At 31 December 2022 | 53,334,756 |
| At 31 December 2021 | 28,251,302 |
| 14 | Debtors | |||
|---|---|---|---|---|
| 2022 | 2021 | |||
| Amounts falling due |
within one year: | E | E | |
| Other debtors | 515,983 | 436,948 | ||
| 15 | Creditors: amounts | falling due within one year | ||
| 2022 | 2021 | |||
| Other creditors | 67,000 | |||
| Accruals and deferred | income | 18,403 | 14,143 | |
| 85,403 | 14,143 |
| Movement | Movement | in funds | ||||||
|---|---|---|---|---|---|---|---|---|
| in funds | ||||||||
| prior year | ||||||||
| Income | Balance at | Income | Expenses | Balance at | ||||
| 1 January | 2022 | 31 | December 2022 | |||||
| f. | ||||||||
| Participatory | Grant making | with | ||||||
| Lankelly Chase | 110,000 | 110,000 | 51 | (9,628) | 100,423 | |||
| The National | Lottery Community | |||||||
| Fund —RC | North East and | Cumbria | ||||||
| Region | 400,000 | 400,000 | 200,082 | (312,827) | 287,255 | |||
| 510,000 | 510,000 | 200,133 | (322,455) | 387,678 |
| Movement | Movement | in funds | in funds | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance at 1 | Incoming | Resources | Transfers | Balance at | |||||||
| January | resources | expended | 31 | ||||||||
| 2022 | December | ||||||||||
| 2022 | |||||||||||
| F | F | ||||||||||
| Action on Dementia | 15,000 | 15,000 | |||||||||
| Age UK Tyneside | 10,000 | 10,000 | |||||||||
| Bell View | 30,000 | 15,000 | 15,000 | ||||||||
| Billingham Enviromental Link |
18,414 | (18,414) | |||||||||
| Blyth Tall Ships | 15,000 | 15,000 | |||||||||
| Blyth Valley CVS | 8,500 | 7,500 | (1,000) | ||||||||
| Bright Futures | 15,000 | 15,000 | |||||||||
| Chopwell Regeneration |
Group | 11,398 | 30,000 | 11,398 | 30,000 | ||||||
| Comfrey Project | 3,500 | 3,500 | |||||||||
| Community Counselling Co-operative |
7,240 | 7,240 | |||||||||
| Cramlington Voluntary |
Youth | Project | 20,000 | 20,000 | |||||||
| Dementia Matters 3 |
40,000 | (40,000) | |||||||||
| Derwentside Detached |
Youth | Project (Consett | |||||||||
| Churches) | 10,000 | 10,000 | |||||||||
| Durham City Youth Projects |
6,750 | 6,750 | |||||||||
| Easington Lane Community |
Access Point | 15,000 | 15,000 | ||||||||
| Employability Trust (East Durham) |
15,000 | 15,000 | 15,000 | 15,000 | |||||||
| Friends of Eastwoods | Park | 15,000 | 15,000 | ||||||||
| Hexham Community Partnership |
10,000 | 10,000 | |||||||||
| Kinship (previously called Grandparents |
Plus) | 20,000 | 20,000 | ||||||||
| MIND Middlesbrough | &Stockton | 15,000 | 15,000 | ||||||||
| Neighbourhood Youth |
Projects | 34,325 | 34,325 | ||||||||
| Pennywell Neighbourhood |
Centre | 10,090 | 10,090 | ||||||||
| Save the Children (Wallsend |
Children' s | ||||||||||
| Community) | 100,000 | 100,000 | |||||||||
| Search | 15,000 | 15,000 | |||||||||
| STAMP Revisited | 40,000 | 20,000 | 20,000 | ||||||||
| Streetwise | 25,000 | 75,000 | 25,000 | 75,000 | |||||||
| Sunderland All Together Consortium |
80,000 | 80,000 | |||||||||
| Teams Life Centre | 5,300 | 24,000 | 5,300 | 24,000 | |||||||
| Teesdale Community Resources |
6,000 | 6,000 | |||||||||
| Teesside Dementia Link Services |
9,798 | 9,798 | |||||||||
| Together Middlesbrough 8 |
Cleveland | 30,000 | 10,000 | 10,000 | (30,000) | ||||||
| Wearside Women in Need |
30,000 | 15,000 | 15,000 | ||||||||
| West View Project Children | &Young People' s | ||||||||||
| Activity Centre | 12,000 | 12,000 | |||||||||
| Woodshed Workshop |
CIC | 15,000 | 15,000 | ||||||||
| 700,565 | 166,750 | 557,151 | (89,414) | 220,750 |
| 20 | Cash generated from operations |
Cash generated from operations |
2022 | 2021 | |||||
|---|---|---|---|---|---|---|---|---|---|
| F | F | ||||||||
| Surplus/(deficit) for the year |
28,427,393 | (2,523,522) | |||||||
| Adjustments for: |
|||||||||
| Investment income recognised |
in statement | offinancial | activities | (649,944) | (429,740) | ||||
| Gain on disposal of investments | (10,764,821) | (276,321) | |||||||
| Fair value gains and losses on | investments | 1,351,265 | 2,327,495 | ||||||
| Depreciation and impairment oftangible |
fixed | assets | 273 | 342 | |||||
| Movements in working capital: |
|||||||||
| (Increase) in debtors |
(79,035) | (389,120) | |||||||
| Increase in creditors |
71,260 | 2,203 | |||||||
| Cash generated from/(absorbed |
by) | operations | 18,356,391 | (1,288,663) | |||||
| 21 | Analysis ofchanges in net funds |
||||||||
| The charitable company repaid |
all | the incurred | debt during the year. |