## **NORTH EAST STEM FOUNDATION** **(Registered Charity No. 1187275)** **TRUSTEES’ REPORT & ACCOUNTS FOR THE YEAR ENDED 5[th] APRIL 2023** **(Unaudited)** ## **Trustees’ Annual Report for the period** **From: 1 April 2022 to 5 April 2023** **Charity name: North East STEM Foundation** **Charity registration number: 1187275** ## **Reference and Administrative details** Charity name: North East STEM Foundation Registered charity number: 1187275 Charity’s principal address: U T C South Durham, Long Tens Way, Aycliffe Business Park, Newton Aycliffe, DL5 6AP Trustees: Tania Cooper, Amy Elizabeth Smith, Catherine Marchant, Richard Jackson Hogg, Alan Hector Ross, Thomas Calverley Dower, Christopher James Braithwaite, David Land ## **Structure, Governance and Management** North East STEM Foundation is a Charitable Incorporated Organisation (CIO) set up under a constitution dated 9 January 2020 and registered with the charity commission on 9 January 2020. If the CIO is wound up, each member of the CIO is liable to contribute to the assets of the CIO such amount (but not more than £1) as may be required for payment of the debts and liabilities of the CIO contracted before that person ceases to be a member, for payment of the costs, charges and expenses of winding up, and for adjustment of the rights of the contributing members among themselves. There must be a minimum of three and a maximum of twelve charity trustees. Apart from the first charity trustees, every appointed trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees. In selecting individuals for appointment as appointed charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO. ## **Objectives and Activities** ## **Objectives** The objects of the CIO (Objects) are for the benefit of the public generally, including in particular (but not limited to): - Young people (in particular, but not limited to those aged 10 to 18 years) residing in the North East of England, - Students enrolled at The Durham UTC Limited (trading as UTC South Durham); to advance the education of children and young people including (but not limited to) in relation to science, technology, engineering and mathematics (STEM) education. 1 ## **Powers** The CIO has power to do anything which is calculated to further its Objects or is conducive or incidental to doing so, to raise funds and to invite and receive contributions. The CIO must comply as appropriate with sections 124 and 125 of the Charities Act 2011. Application of income and property - The income and property of the CIO must be applied solely towards the promotion of the Objectives. ## **Activities.** We have now established governance, due diligence and operational processes for management and distribution of grants. Post covid activities have been slower than anticipated in fund raising, however we are now seeing support on a matched funding basis with time and resources from industry. ## **Public benefit** In preparing these accounts the trustees have had regard to the guidance issued by the charity commission on public benefit. ## **Achievements and Performance** The main objective of the charity is to support projects that can ensure students from primary as well as secondary schools can get involved and understand the opportunities a STEM based education can bring. In essence a cradle to career approach. Our focus and emphasis continues to be the support of projects that encourage students form both primary and secondary age group to get involved in STEM based activities, via our “Future Makers” (FM) project. To date the Future Makers program has successfully delivered support to 1,300 pupils across both primary and secondary schools via UTC South Durham. We are proposing to significantly increase the offering with multiple delivery partnerships in the next 12 months. In addition, we have continued our financial support for UTC South Durham and other smaller STEM projects in the region as well as launching our website. ## **Financial Review** In the current period the charity raised £75,075 from returns on the fundraising dinner, corporate and personal donations. £14,871 was spent on consultancy and operational costs for the daily running of the Charity. £12,000 was awarded to qualifying beneficiaries for support. Year-end reserves were £54,509. Our aim is to cover all operation costs three months ahead. Financial support to projects will only be committed when the Charity has sufficient cash reserves to support its ongoing costs and the cost of the projects. ## **Going concern** In the trustees’ opinion there are no uncertainties relating to going concern. 2 ## **Statement of Trustees' responsibilities** The trustees are responsible for preparing the trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of trustees on …………………………………………… signed on their behalf by …………………………………….. 3 ## **Independent examiner's report on the accounts** ## **Section A Independent Examiner’s Report** |**Report to the trustees/**
**members of**
**On accounts for the year**
**ended**
**Set out on pages**|Charity Name
North East STEM Foundation| |---|---| ||| ||5 April 2023
**Charity no**
**(if any)**
1187275| ||| ||6-7
(remember to include the page numbers of additional sheets)| I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 5 April 2023. **Responsibilities and** As the charity's trustees, you are responsible for the preparation of the **basis of report** accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. 4 **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: - the accounting records were not kept in accordance with section 130 of the Charities Act; or - the accounts did not accord with the accounting records; or I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. |**Signed:**
**Name:**
**Relevant professional**
**qualification(s) or body**
**(if any):**
**Address:**|NOT YET SIGNED
**Date:**|| |---|---|---| |||| ||Heather O’Driscoll FCA|| |||| ||Institute of Chartered Accountants England and Wales|| |||| ||Waltons Business Advisers Limited|| ||Maritime House|| ||Harbour Walk|| ||The Marina|| ||Hartlepool|| ||TS24 0UX|| 5 CHARIIY (OMMISSION FOR ENGLAND AND WALES IKIRTh EASTSTal FOLViWIIOW '75 Receipts and payments accounts CC16a Forthe perfod Section A Receipts and payments UnrestricLed lunds Restrictrd Endovrfwnt fvnd5 TO￿ fvnd5 L•ity•4r A1 Recelpts 21200 23.874 11,14$ Polsonal donabDll5 C4mmunitylOuAdtsOOn Z¢dr8 tru$1 &npJd Trusldon•bon$ BBnkinlerest L¥Os D￿r￿*T1￿¢M• 1tyX 10.000 T,TD8 7,7aD 21.0$0 4,725 J2.•M Sub knta1(GrO￿$nCoMfj trAR) 7•m• 71.071 •l,J74 Ass•t *nd Inv•strr*ht ￿1*$. I￿* Llbhl. Sub knt41 Tot411•¢•4*1 75.076 71,071 81,374 nts 13.• 13,¥91 21,M• 12.M1 )yepenty*nteurnifflalon Grants thwaidpd L•gai 8 Profe6¥ion•its•* B•nkch•ips Ik•bng ¢06 750 12m) 12.000 34.0•4 708 123 170 •A22 17 B.122 Sub t*tsl I7￿34 67 A4 A%5•14nd Inv•%tyrnnt pur¢ha¥•s,11•• tab Sub *>tsl 57,934 47,134 N•tolrn¢•1ptsrf￿yM0￿tsj J Trinslers betr*en funds A8 Cash funds last par end Cash fundJ this yearond 17.141 19,83 37,360 37,368 17,633 37,368 ## **Section B Statement of assets and liabilities at the end of the period** |**Categories**|**Details**|**Details**|**Details**|**Unrestricted**
**funds**|**Restricted**
**funds**|**Endowment**
**funds**| |---|---|---|---|---|---|---| |||||**to nearest £**|**to nearest £**|**to nearest £**| |**B1 Cash funds**|NESF Business free A/C|||**54,509**|**-**|**-**| |||||**-**|**-**|**-**| |||||**-**|**-**|**-**| ||**_Total cash funds_**|||**54,509**|**-**|**-**| ||(agree balances w ith receipts and payments
account(s))|||OK|OK|OK| |||||**Unrestricted**
**funds**|**Restricted**
**funds**|**Endowment**
**funds**| ||**Details**|||**to nearest £**|**to nearest £**|**to nearest £**| |**B2 Other monetary assets**||||**-**|**-**|**-**| |||||**-**|**-**|**-**| |||||**-**|**-**|**-**| |||||**-**|**-**|**-**| |||||**-**|**-**|**-**| |||||**-**|**-**|**-**| |||||||**Current value**
**(optional)**| ||**Details**|||**Fund to which**
**asset belongs**|**Cost (optional)**|| |**B3 Investment assets**|||||**-**|**-**| ||||||**-**|**-**| ||||||**-**|**-**| ||||||**-**|**-**| ||||||**-**|**-**| |||||||| ||**Details**|||**Fund to which**
**asset belongs**|**Cost (optional)**|**Current value**
**(optional)**| |**B4 Assets retained for the charity’s own**
**use**|||||**-**|**-**| ||||||**-**|**-**| ||||||**-**|**-**| ||||||**-**|**-**| ||||||**-**|**-**| ||||||**-**|**-**| ||||||**-**|**-**| ||||||**-**|**-**| ||||||**-**|**-**| |||||**Fund to which**
**liability relates**||**When due**
**(optional)**| ||**Details**||||**Amount due**
**(optional)**|| |**B5 Liabilities**|||||**-**|| ||||||**-**|| ||||||**-**|| ||||||**-**|| ||||||**-**|| |||||||| |Signed by one or two trustees on behalf of all the
trustees|Signature|||Print Name||Date of
approval| |||||David Land||| |||||||| 7