2021-12-31-accounts

Trustees		Mr PJCronin	Mr PJCronin		(Appointed	21	December
					2020)
		Mrs AJ Cronin			(Appointed	21	December
					2020)
		Mr Michael	Moran		(Appointed	21	December
					2020)
		G M Purvis			(Appointed	21	December
					2020)
		Suzanne Kennedy			(Appointed	21	December
					2020)
		Mr Michael	Cronin		(Appointed	21	December
					2020)
		Mr Robert	Cronin		(Appointed	21	December
					2020)
		Mr James	Cronin		(Appointed	21	December
					2020)
		Sophie Cronin			(Appointed	21	December
					2020)
Charity number		1192886
Registered offic		Fernwood	House
		Fernwood	Road
		Jesmond
		Newcastle	upon Tyne
		United Kingdom
		NE2 1TJ
Auditor		Mitchells Grievson		Ltd
		3Kensington House
		Bishop Auckland
		Co Duham
		DL146HX
Bankersfinvestment	managers	Barclays Bank pic
		1 Churchill	Place
		Canary Wharf
		London
		E145HP

		Page
Trustees' report		t-3
Independent auditor's	report	4-6
Statement offinancial	activities
Balance sheet
Statement ofcash ftows
Notes to the financial	statements	10-16

The trustees who served during	the year and up tothe date ofsignature ofthe financial statements	the year and up tothe date ofsignature ofthe financial statements	were:
Mr PJCronin	(Appointed	21 December 2020)
Mrs AJ Cronin	(Appointed	21 December 2020)
Mr Michael Moran	(Appointed	21 December 2020)
G M Punils	(Appointed	21 December 2020)
Suzanne Kennedy	(Appointed	21 December 2020)
Mr Michael Cronin	(Appointed	21 December 2020)
Mr Robert Cronin	(Appointed	21 December 2020)
Mr James Cronin	(Appointed	21 December 2020)
Sophie Cronin	(Appointed	21 December 2020)

				Unrestricted
				funds
				2021
			Notes	8
illme from:
Donations and	legacies		2	12,000,000
investments			3	21,758
Total Income				12,021,756
Raising funds			4	17,750
Charitable activities			6	803,300
Total expenditure				821,050
Net gains/(losses)		on investments	10	512,939
Net movement	in	funds		11,713,645
Fund balances	at 21 December 2020
Fund balances	at	31 December 2021		11,713,645

			2021
		Notes
Fixed assets
Investments			11,525,399
Current assets
Cash at bank and in	hand		800,421
Creditors: amounts	falling due within one year	13	(612,175)
Net current assets			188,248
Total assets less current liabilities			'i1,713,645
Income funds
Unrestricted funds			11,713,645
			11,713.645

					2021
				Notes	6
Cash flows from operating		activities
Cash generated from/(absorbed by) operations				16	11,791,125
investing	activities
Purchase	ofinvestments				(12,176,742)
Proceeds	from disposal of	investments			1,164,282
Investment	income received				21,756
Net cash	used in investing	activities			(10,990,704)
Net cash	used in financing	activities
Net increase in cash and cash equivalents					800,421
Cash and	cash equivalents	at beginning	ofyear
Cash and	cash equivalents	at end of	year		800,421

				Unrestricted
				funds
				2021
	Donations	and	gifts	12,000,000
3	Investments

			Unrestricted
			funds
			2021
Income	from listed investments		16,871
Income	from corporate	and other bonds	4,445
Interest	receivable		440
			21,755

4	Raising funds	Raising funds
					Unrestricted
					funds
					2021
					6
	Investment	management		costs	17,750
					17,750
6	Charitable	activities
					Grant giving
					2021
	Grant funding ofactivities			(see note 6)	800,000
	Share ofgovernance		costs (see note 7)		3,300
					803,300
6	Grants payable
					Grant giving
					2021
	Grants to	institutions:
	Foundation	of Light			800,000

Support c	osts
		Support	Governance	2021
		costs	costs
		E	E	E
Audit fees			3,300	3,300
			3,300	3,300
Analysed	between
Charitable	activities		3,300	3,300

		Unrestricted
		funds
		2021f
Revaluation	ofinvestments	512,939

11	Fixed asset Investments	Fixed asset Investments	Fixed asset Investments							(Continued)
										Listed
										investments
										8
	Cost orvaluation
	At 21 December 2020
	Additions									12,176,742
	Valuation changes									512,939
	Disposals									(1,164,282)
	At 31 December 2021									11,525,399
	Carrying amount
	At 31 December 2021									11,525,399
										2021
										8
	Investments at fair value		comprise:
	Cash and short maturity		bonds							348,660
	Developed government		bonds							421,484
	investment grade bonds									348,347
	Developed market equities									8,253,768
	Emerging market equities									1,298,431
	Commodities									340,030
	Real estate									412,029
	Alternative trading strategies									102,650
										11,525,399
	Listed investments included			above:						2021
										8
	Listed investments carrying			amount						11,525,399
	Fixed asset investments			revalued
	Fixed asset investments,		which		represent	investments		held	in an mixed investment	portfolio are revalued at
	each period end in accordance				with our accounting		policy.
12	Financial instruments									2021
										8
	Carrying amount offinancial				assets
	Instruments measured	at fair value through				profit or	loss			11,525,399