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2020-12-31-accounts

Directors Directors Ms J.W. Barr
Mr W.l. Buchanan
(until 23 January		 2020)
Dr H.J.Finlayson
Mr J.C.G. Forrest (until 31 December 2020)
Revd. D. Grosch-Miller
DrA. Hamnett
(until 30September		 2020)
Revd. A.P. Haws
(until 28 May 2020)
Ms C. Hogg
Mr J.C. Kennedy
(until 22 June 2021)
Mr P.B.Matthew
Ms J.R. Tomlin
Mr G.l. Wanless (5April 2020 onwards)
Mr W. Duncan
(1 January 2021 onwards)
Convenor Revd. D. Grosch-Miller
Treasurer Mr G.l. Wanless
Secretary Mr W. Duncan
(1 October 2020 onwards)
DrA. Hamnett
(until 30September		 2020)
Trust officer Mr A. Atkinson
Finance officer Ms H.E. Hogg
Charity number 1132154
Company number 134549
Registered office 4 College Lane, Newcastle
upon Tyne,		 NE1 8JJ
Auditor RMTAccountants
8 BusinessAdvisors		 Ltd
Gosforth
Park Avenue,
Newcastle		 upon Tyne, NE12 8EG
Bankers Bank of Scotland Pic
PO Box 1000, BX2 1LB
Lloyds Bank pic
PO Box 1000, BX1 1LT
Legal advisors Womble
Bond Dickinson
(UK) LLP
StAnn's Wharf, 112Quayside,
Newcastle		 upon Tyne, NE1 3DX
Sintons LLP
The Cube, Barrack Road, Newcastle
upon		 Tyne, NE4 6DB
Investment managers CCLA investment
Management
Limited
Senator House, 85 Queen Victoria Street, London, EC4V4ET
Property consultants Sanderson
Weatherall
LLP
Central Square South, Orchard Street, Newcastle
upon Tyne, NE1 3AZ

Page
Directors' report 1-8
Independent
auditor's		 report 9-11
Statement offinancial activities 12 - 13
Balance sheet 14
Statement ofcash flows 15
Notes to the financial statements 16-38

Current financial year Current financial year
Unrestricted Restricted Endowment Total Total
funds funds funds
2020 2020 2020 2020 2019
Notes F F F F F
Income and endowments from:
Donations
and legacies		 3 88 88 78,075
Investments 4 291,997 57,441 349,438 358,752
Other income 5 1,138,243 23,279 1,161,522 935,921
Total income 1,430,328 80,720 1,511,048 1,372,748
Expenditure
on:
Charitable
activities		 6 695,572 100,645 796,217 1,250,168
Other expenditure 12 42,656 21,422 64,078 70,805
Total resources expended 695,572 143,301 21,422 860,295 1,320,973
Net gains/(losses) on investments 11 543,360 129,222 672,582 1,659,669
Net incoming/(outgoing) resources
before transfers 1,278,116 66,641 (21,422) 1,323,335 1,711,444
Gross transfers
between		 funds (472,309) 472,309
Net movement
in		 funds 805,807 538,950 (21,422) 1,323,335 1,711,444
Fund balances at 1 January 2020 10,242,295 1,832,338 200,000 12,274,633 10,563,189
Fund balances at 31 December
2020 11,048,102 2,371,288 178,578 13,597,968 12,274,633

Prior financial year
Unrestricted Restricted Endowment Total
funds funds funds
2019 2019 2019 2019
Notes F E F
Income and endowments from:
Donations
and legacies		 68,854 9,221 78,075
Investments 309,589 49,163 358,752
Other income 908,182 27,739 935,921
Total income 1,286,625 86,123 1,372,748
Expenditure
on:
Charitable
activities		 6 1,192,091 58,077 1,250,168
Other expenditure 12 70,805 70,805
Total resources expended 1,192,091 128,882 1,320,973
Net gains/(losses)
on investments		 1,382,242 277,427 1,659,669
Net incoming/(outgoing) resources before
transfers 1,476,776 234,668 1,711,444
Gross transfers
between		 funds (100) 100
Net movement
in funds		 1,476,676 234,768 1,711,444
Fund balances at 1 January 2019 8,765,619 1,597,570 200,000 10,563,189
Fund balances at 31 December 2019 10,242,295 1,832,338 200,000 12,274,633

2020 2019
Notes E
Fixed assets
Tangible assets 13 1,088,390 1,109,506
Investment
properties		 15 155,000 155,000
Investments 14 10,799,716 10,045,475
12,043,106 11,309,981
Current assets
Debtors falling due after one year 18 24,000 27,001
Debtors falling due within one year 18 67,732 29,010
Investments 16 1,236,353 889,000
Cash at bank and in hand 632,644 387,655
1,960,729 1,332,666
Creditors: amounts falling due within
one year 19 (28,204) (31,975)
Net current assets 1,932,525 1,300,691
Total assets less current liabilities 13,975,631 12,610,672
Provisions
for liabilities		 20 (377,663) (336,039)
Net assets 13,597,968 12,274,633
Capital funds
Endowment
funds		 178,578 200,000
Income funds
Restricted funds 22 2,371,288 1,832,338
Unrestricted
funds		 11,048,102 10,242,295
13,597,968 12,274,633
The financial
statements		 were approved by the Directors on ~."...4uRust. ?O2."
D.Grosch-Miller G.l.Wanless
Trustee Trustee

2020 2019
Notes
Cash flows from operating activities
Cash absorbed
by operations		 27 (761,447) (1,004,938)
Investing activities
Purchase oftangible
fixed assets		 (79,230) (334,911)
Proceeds on disposal oftangible fixed
assets 35,806
Purchase of investments (100,000)
Proceeds on disposal of investments 800,422 1,030,000
Investment income received 349,438 358,752
Net cash generated
from investing
activities 1,006,436 1,053,841
Net cash used in financing activities
Net increase
in cash and cash		 equivalents 244,989 48,903
Cash and cash equivalents at beginning ofyear 387,655 338,752
Cash and cash equivalents at end of year 632,644 387,655

Unrestricted Unrestricted Restricted Total
funds funds funds
2020 2019 2019 2019
E
Donations and gifts 68,799 9,221 78,020
Legacies receivable 88 55 55
88 68,854 9,221 78,075
Donations and gifts
Contributions from local churches 67,779 67,779
M8 M contributions 9,221 9,221
Other 1,020 1,020
68,799 9,221 78,020

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2020 2020 2019 2019 2019
E E
Rental income 15,000 15,000 15,000 15,000
income from listed
investments 276,921 57,428 334,349 294,454 49,152 343,606
Interest receivable 76 13 89 135 11 146
291,997 57,441 349,438 309,589 49,163 358,752
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2020 2020 2020 2019 2019 2019
f E f f f
Properties held for sale 1,111,353 1,111,353 889,000 23,582 912,582
Other income 11,364 279 11,643 850 250 1,100
Rental income 15,526 15,526 18,332 18,332
Grant received 2,000 2,000
Monies received from
investors 21,000 21,000 3,907 3,907
1,138,243 23,279 1,161,522 908,182 27,739 935,921

Discipleship Nlission Partnership Property Total Total
2020 2019
2020f 2020
f.		 2020f 2020
f
Direct activities 3,760 6,163 54,745 148,514 213,182 453,780
Grant funding
(see note 7)		 of activities 5,142 57,871 39,337 112,306 214,656 471,530
Share of
(see note		 support costs
8)		 119,113 51,346 112,913 78,817 362,189 318,649
Share of governance costs
(see note 8) 1,350 1,275 1,894 1,671 6,190 6,209
129,365 116,655 208,889 341,308 796,217 1,250,168
Analysis by fund
Unrestricted funds 129,013 116,655 163,506 286,398 695,572 1,192,091
Restricted funds 352 45,383 54,910 100,645 . 58,077
129,365 116,655 208,889 341,308 796,217 1,250,168
For the year ended 31December 2019
Discipleship Mission Partnership Property Total
2019f
Direct activities 10,126 13,020 215,961 214,673 453,780
Grant funding of activities (see note 7) 8,249 210,955 9,533 242,793 471,530
Share of support costs (see note 8) 103,950 42,781 104,805 67,113 318,649
Share ofgovernance costs (see note 8) 1,552 1,552 1,552 1,553 6,209
123,877 268,308 331,851 526,132 1,250,168
Analysis
by		 fund
Unrestricted funds 122,949 268,308 315,973 484,861 1,192,091
Restricted
funds		 928 15,878 41,271 58,077
123,877 268,308 331,851 526,132 1,250,168

Grants payable
Discipleship Mission Partnership Property Total Total
2020 2020 2020 2020 2020 2019
E E E
Grants to institutions:
St Cuthbert's
Centre,		 Holy Island 50,000 62,500 112,500
Horsley
URC		 26,978 26,978
Roker URC 9,000 16,679 25,679 10,000
Bellingham
URC		 14,903 14,903
Falstone
& Kielder Church		 13,357 13,357
Newcastle
City Centre
Chaplaincy 10,000 10,000
Gateshead
Group		 5,700 5,700
Connect Network
Sunderland		 5,000 5,000 5,000
Renew NE 5,000 5,000
Crookham
URC		 3,400 3,400 3,400
Wark LEP 3,217 3,217
StAndrew's
Church,		 Crook 2,000 1,000 3,000
Denewell Avenue
URC		 2,246 2,246
Jesmond
URC		 1,746 1,746
Trinity Church, Ashington 1,000 1,000
Ponteland
URC and Wideopen
URC 850 850
Northallerton
URC		 667 667 35,258
Rothbury
URC		 100,000
Stocldon Road URC 67,500
St George's URC, Hartlepool 46,000
Sunderland
and Boldon
Partnership 34,802
Wooler URC 30,000
Faith in the Community 30,000
Grindon
Mission Project		 29,917
Berwick URC 26,841
St George's URC, High Heaton 15,830
St Marks URC, Amble 7,550
StJames's URC, Newcastle 6,375
Christ Church,
Stanley		 6,200
Diocese of Newcastle 6,000
StAndrew' s, Blackhill 4,920
Heaton Churches
Together		 1,500
StAndrew's
Dawson		 Street,
Crook LEP 1,000
West Denton
URC		 800
Less grants
no longer		 required (26,392) (2,797) (29,189) (17,384)
Minor institutional
grants		 768 26 794
Other 14,397
768 57,871 35,903 112,306 206,848 465,906
Grants to individuals 4,374 3,434 7,808 5,624
5,142 57,871 39,337 112,306 214,656 471,530

For the year ended 3 1 Decemb er 2019
Discipleship Mission Partnership Property Total
2019 2019 2019 2019 2019
F E
Rothbury
URC		 100,000 100,000
Stockton Road URC 67,500 67,500
St George's URC, Hartlepool 34,000 12,000 46,000
Northallerton
URC		 35,258 35,258
Sunderland
and Boldon
Partnership 34,802 34,802
Wooler URC 30,000 30,000
Faith in the Community 30,000 30,000
Grindon
Mission Project		 29,917 29,917
Berwick URC 26,841 26,841
StGeorge's URC, High Heaton 3,550 12,280 15,830
Roker URC 10,000 10,000
St Marks URC, Amble 50 7,500 7,550
St James's
URC, Newcastle		 6,375 6,375
Christ Church,
Stanley		 6,200 6,200
Diocese of Newcastle 6,000 6,000
Connect Network
Sunderland		 5,000 5,000
StAndrew' s, Blackhill 4,920 4,920
Crookham
URC		 3,400 3,400
Heaton Churches
Together		 1,500 1,500
StAndrew's
Dawson		 Street,
Crook LEP 1,000 1,000
West Denton
URC		 800 800
Less grants
no longer		 required (1,505) (11,559) (4,320) (17,384)
Other 3,502 10,895 14,397
3,502 210,955 8,656 242,793 465,906
Grants to individuals (0 grants) 4,747 877 5,624
8,249 210,955 9,533 242,793 471,530

Support costs
Support Governance 2020 Support Governance 2019
costs costs costs costs
f. E f E
Staff costs 261,657 261,657 241,236 241,236
Depreciation 24,421 24,421 3,366 3,366
Office & executive 69,397 69,397 59,459 59,459
Office staff costs 3,642 3,642 4,939 4,939
Resource staff costs 3,072 3,072 9,649 9,649
Audit fees 6,000 6,000 6,000 6,000
Sundry expenses 190 190 209 209
362,189 6,190 368,379 318,649 6,209 324,858
Analysed
between
Charitable
activities		 362,189 6,190 368,379 318,649 6,209 324,858

Basis ofallocation
Office & Office Resource
executive staff staff
0/ 0/
Discipleship 25 17 76
Mission 25 14 3
Partnership 25 39 21
Property 25 30
100 100 100

2020 2019
Number Number
Head count 12 11
Full-time
equivalent		 7 6
Employment costs 2020 2019
Wages and salaries 190,700 181,709
Social security costs 16,267 15,460
Other pension costs 59,053 54,361
Apprenticeship levy 918 883
266,938 252,413
Net gains/(l oss es)
on inve		 stments
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2020 2020 2020 2019 2019 2019
f. E E
Revaluation of investments 543,360 129,222 672,582 1,382,242 277,427 1,659,669

Restricted Endowment Total Restricted
funds funds funds
2020 2020 2020 2019
Net loss on disposal oftangible fixed assets 21,422 21,422
Monies paid to investors 42,656 42,656 70,805
42,656 21422 64,078 70,805
13 Tangible fixed assets
Freehold Fixtures Loans Property Total
land and and fittings improvements
buildings
Cost
At 1 January 2020 762,450 45,781 286,489 130,238 1,224,958
Additions 3,434 75,796 79,230
Disposals (60,506) (60,506)
At 31 December 2020 762,450 49,215 225,983 206,034 1,243,682
Depreciation and impairment
At 1 January 2020 74,329 41,123 115,452
Depreciation charged in the year 15,420 3,817 20,603 39,840
At 31 December 2020 89,749 44,940 20,603 155,292
Carrying
amount
At 31 December 2020 672,701 4,275 225,983 185,431 1,088,390
At 31 December 2019 688,121 4,658 286,489 130,238 1,109,506

Fixed as set investments
Common Traidcraft Total
investment Investment
fund
F F
Cost or valuation
At 1 January 2020 10,043,969 1,506 10,045,475
Additions 114,803 114,803
Valuation changes 639,438 639,438
At 31 December 2020 10,798,210 1,506 10,799,716
Carrying amount
At 31 December 2020 10,798,210 1,506 10,799,716
At 31 December 2019 10,043,969 1,506 10,045,475

Investment
property
2020
Fair value
At 1 January 2020 and 31 December 2020 155,000

16 Current a sset invest ments
2020 2019
F F
Assets held for sale ' 1,236,353 889,000
17 Financial instruments 2020 2019
E
Carrying amount of financial assets
Instruments measured at fair value through profit or loss 1,236,353 889,000

18 Debtors
2020 2019
Amounts
falling due		 within one year: F
Other debtors 42,577 19,857
Prepayments and accrued income 25,155 9,153
67,732 29,010
2020 2019
Amounts
falling due		 after more than one year:
Other debtors 24,000 27,001
Total debtors 91,732 56,011
19 Creditors: amounts falling due within one year
2020 2019
Other creditors 6,469 9,490
Accruais and deferred income 21,735 22,485
28,204 31,975

20 Provisions for liabilities Provisions for liabilities 2020 2019
Grant provisions 377,663 336,039
Movements
on provisions:
Grant
provisions
At 1 January 2020 336,039
Additional
provisions		 in the year 243,844
Reversal ofprovision (29,189)
Utilisation
ofprovision		 (173,031)
At 31 December 2020 377,663

Movement in funds
Balance at 1 Incoming Resources Transfers Revaluations, Balance at 31
January resources expended gains and December
2020 losses 2020
E E E
General fund 962,889 300,397 (411,957) 20,423 43,352 915,104
General reserve 2,360,036 (27,140) 134,362 2,467,257
Property valuations 932,225 (15,420) (10,506) 906,299
Manse fund 4,178,210 291,392 (34,751) (470,331) 261,799 4,226,319
Property fund 586,043 837,487 (142,426) (53,062) 30,401 1,258,443
Mission fund 1,109,430 (51,879) 127,760 77,624 1,262,934
Dr Brand legacy 19,767 1,053 (10,000) 925 11,745
Synod Way Forward
Fund 93,695 (2,000) (97,099) 5,404
10,242,295 1,430,329 (695,574) (472,309) 543,360 11,048,102
Movement in funds
Balance at 1 Incoming Resources Transfers Revaluations, Balance at 31
January resources expended gains and December
2019
E		 E losses
F		 2019f
General fund 809,770 376,272 (394,029) 42,406 128,470 962,889
General reserve 2,003,645 (9,576) 365,967 2,360,036
Property valuations 975,145 (15,420) (27,500) 932,225
Manse fund 3,180,512 656,692 (12,350) (202,500) 555,856 4,178,210
Property fund 480,957 252,641 (373,389) 123,736 102,098 586,043
Mission fund 1,055,123 (221,463) 63,758 212,012 1,109,430
Ministers' pension 163,402 (163,402)
Dr Brand legacy 15,696 1,020 3,051 19,767
Synod Way Forward
Fund 81,369 (2,462) 14,788 93,695
8,765,619 1,286,625 (1,192,091) (100) 1,382,242 10,242,295

Current finan cial ye ar
Movement in funds
Balance at 1 Incoming Resources Transfers Revaluations, Balance at 31
January
2020		 resources expended gains and
losses		 December
2020
f, P E
Dales fund 41,893 2,469 44,362
Ministry
& mission
fund 137,180 (38,856) 1,960 6,584 106,868
Moderator' s
benevolent
fund		 7,465 (3,434) 4,031
Mozambique
partnership
fund		 15,602 498 (300) 933 16,733
Mozambique project
fund 491 45 300 31 867
Northumberland
project fund 3,660 216 3,876
Student's
fund		 9,091 (352) 515 9,254
Pulpit supply fund 5 (25) 20
Trust capital funds 849,775 34,147 (54,911) 470,329 75,981 1,375,321
Church funds 732,477 43,780 (42,656) 42,493 776,094
Northernly
Synod
listening
and		 rec
fund 34,449 (2,567) 31,882
Charity Collections
fund 250 250 (500)
Safeguarding fund 2,000 2,000
1,832,338 80,720 (143,301) 472,309 129,222 2,371,288

Movement in funds
Balance at 1 Incoming Resources Transfers Revaluations, Balance at 31
January resources expended gains and December
2019 losses 2019
Dales fund 35,298 6,595 41,893
Ministry
8 mission
fund 103,721 9,221 1,948 22,290 137,180
Moderator' s
benevolent
fund		 8,342 (877) 7,465
Mozambique
partnership fund 14,802 518 (2,396) 2,678 15,602
Mozambique project
fund 660 20 (300) 491
Northumberland
project fund 3,084 576 3,660
Student's
fund		 8,502 (928) 1,517 9,091
Pulpit supply fund 361 (456) 100 5
Trust capital funds 727,554 48,922 (52,582) 125,881 849,775
Church funds 657,440 27,192 (69,934) 117,779 732,477
Northernly
Synod
listening
and		 rec
fund 37,806 (3,357) 34,449
Charity Collections
Fund 250 500 750
1,597,570 86,123 (128,882) 100 277,427 1,832,338

Current fin ancial year
Unrestricted Restricted Endowed Total
2020 2020 2020 2020
E E f
Fund balances at 31 December 2020 are
represented by:
Tangible assets 938,390 150,000 1,088,390
Investment properties 155,000 155,000
Investments 8,445,765 2,353,951 10,799,716
Current
assets/(liabilities)		 1,875,430 28,517 28,578 1,932,525
Provisions (366,483) (11,180) (377,663)
11,048,102 2,371,288 178,578 13,597,968

Prior financ ial year
Unrestricted Restricted Endowed Total
2019 2019 2019 2019
Fund balances at 31 December 2019are
represented by:
Tangible assets 909,506 200,000 1,109,506
Investment properties 155,000 155,000
Investments 8,245,237 1,800,238 10,045,475
Current
assets/(liabilities)		 1,268,591 32,100 1,300,691
Provisions (336,039) (336,039)
10,242,295 1,832,338 200,000 12,274,633

2020 2019
Within one year 15,000 15,000
Between two and five years 45,000 60,000
60,000 75,000

27 Cash generated
from		 operatio ns 2020 2019
F
Surplus for the year 1,323,335 1,711,444
Adjustments
for:
Investment
income recognised		 in statement offinancial activities (349,438) (358,752)
Loss on disposal oftangible
fixed assets		 21,422
Gift of property (1,111,353) (889,000)
Investment
fee rebate		 reinvested (14,803) (14,767)
Fair value gains and losses on investments (672,582) (1,659,669)
Depreciation
and impairment
oftangible		 fixed assets 39,840 18,786
Movements
in working		 capital:
(Increase)
in debtors		 (35,721) (5,633)
(Decrease)/increase
in		 creditors (3,771) 7,666
Increase
in provisions		 41,624 184,987
Cash absorbed
by operations		 (761,447) (1,004,938)
28 Analysis ofchanges in net funds