g • l Netherton Park Trust Chanty Re8istration number I2(￿249 NETHERTON PARK TRLIST TRUSTEES. REPORT AND fiNANCIAL STATEMENTS 5" April 2026 Nelhertu IkTTU5t NETHERTON P.4RK TRIIST REPORT F THE TRL'STEES Thc Trustees have pleasure in presentiD8 their annual rewrt and the audiied financial statements for the year ended 5 April 2026. Reference and administr*tive detai15 1206?49 Barclays Bank PLC Leicesier LL67 2BB Raihbone Investment Manabiement Earl Grey House 75-85 CJrey Sireel NeTh¢&sile T￿e Aztts Audit Services Chartered Accountants Bulinan House R¢g¢nt Centre Newcastle upK)n Tync NE3 3LS The Trustees at the dale of this report and who served during the year under review were: S P Alexander, BS¢, MBA - Chair A M Corfiel¢l t3A. FCA A Dick ACNqK CG.￿ (appointed P April 2025) A A J Findlay l R Ilarri& fvIBE. Bsc. FRICS R Flcw'itson. JP, LLB R A Floward M L RansoTr JP. FC.4 C M IA'ood (appoinied * April 2025) ' M Wood fAAlf Irthired 2 (ktober 2025) * Foundatioll ma[￿se[S ￿ the date of this reporL Page I . Trust NETHF.RTON PARK TRUST RF.PORT OTr- TIITr: TRIJSTEE (continued) Stl'Uitui'e• goTrei'iiaiiit aiid lliaiiageiiieiil Governin Document and Back ound of the Trust Neth¢rton Park Trnst Iihe Trusi) was registered by the Charity Commission for England and Wales 85 a Foundation Chariiable In¢orporatcd (hbianisaiion on 18 Decembcr ?023 with oumber l?06?49. The putyose of lis incory)orarion was ro merge wilh ihe liethenon Park Trust IR¢gisrered Numl*T 229bb" 7) with Objects substhniially un¢han8ed from that charity's Objects. On 7, April 2026 the Merger of Charity 229667 with thc Tnjsi w&% regiisiered in the Regiisler of Merbjers with a transfer date of13 October 20?5. The Trust commenced operatioT]s on 6 April 2075 and the previous Charity No 2?9667 w&8 removed from the centtal Rcbiisier of Charities on 7 April 2026. As the merged Charities meet the criteria for mergver accountingp. this report 2nd the financial slateinenls for the year commencin8 5 April 2025 have be¢Ii prcpared aG¢ordance with the mergTer accowiting requirements. Objects of the Trust and Review of Activities The pievious charity {Regiistered Number 2?9667) was consiituied by iwo conveyances in the 19 ' Century. supplem¢nted by Orders by the Charity Commission to widen the objects and perniiltin¥ ihe Trnst io provide hoines for disadvantaged children and young people and SUPPOff work with and opponuniiies for youn8 people. In 1859 land at Neiherton had been transferred io Tnjsiees io be used as a refom)aiory ￿h0O]. The school became Lontrolled community home rnn by Northumberland County CounLil until ?016 when the open unils were closed. l¢a%'in¥ Kyloe 14ouse remaining in operation &s a discrete secure children s homc. now leased with surroundin8 land by the I'rusl to the Council under a 23-year lease from 7 Jul>, 2017. ai a pepper¢orn rent. Th¢ other I￿ld and buildingis at Netherton Park hai'e been sold. UndL'r an Instrument of Management amended on 2f June 2019 by Ststutory Instnjment No.1065 'The Netherton Park Instrument of Management (Variaiion) Order 2019,. managers are appointed io supervis¢ the seLure hornc in Kyloe House, inclLMling Fowjdalion fvlanagiers appointed by the Trustees and Local AuUiority Managers appoinied by Northuinbcrland Couniy CounLiI. There are two Foundation Man8bJers ai the date of this reporL compiisinbi one third of the managers. ointsneiit and retir All ihe Trnstees M'ho served during the year are listed on Page l. Apart from the first charity trustce5. evL"ry truslec must bc ￿p￿Inted for a temi of thrce ycars by a rewlution passed at a properly conven¢d Ineering of the T￿St'S triistees. In selecting indibiduals for appointmen( the Trust's trustees must have regard to the skills, knowledye and ¢xperien¢e needed for the effectii'e administration of the Tnjsl. A tn￿(¢¢ who h&s served for tI￿ee col￿ecUtive ternis may not be reapwinted for a fourth consecutive tertn but ￿aY be reappointed after an internal of at Icast one year. Mr Alan Dxck and Mrs Catheritie Mary w(￿ appointed trustees on * April 2025. Mr W M Wood retired as a Dustee on 2 (kiober 20J? ha￿1￿8 been a trustee for about 40 !ear5. being involved in thc previo￿ TtUSt'5 deN-cli>pmcnt trom providingj small gtants mainlN" io the children's home to being an impoitanl provider in dcpiived aTeas of the rcgion. The trustccs thank him for his long servi¢e leairyng a legacsl that the CharAty and the clu"Idren and yOUDg people the Tn￿1 aitns to support should colltilluc to bcnefit for many years lo come. Pagc 2 Nvtherton ParkTru5t NETHERTON PARK TRUST RF.PnR T nF THF TRI ISTF.F.% {coniinucd) oi ent and retiremen of Tru onti The initsal tcmi of office of Mr M L Ranson expired on 17 tkcember 2025 al￿ he has been reappointed. The Chair and other Trnsiees aim to ensure thai the Board of Trnstees is refreshed from time to tsme with people who have experience and interest in benefiting young disadvantaged pcople, p4rticul8dy those at risk. and in the ongoing success of the Tntsi in achieving its Objects. ndtr Each new Twsree, on or IKforc appoinmieni is provided with a copy of the current version of the constittbtion and a ¢opy of the CIO'S latest Trusle¢s' Annual Repon and Sialement of Accounts. The Trustees keep themselves up lo dale with leb*islaiive and ot]ier requirements affect￿￿7 the Trust and trainiDg IS ftvailable from Northumberland County Council on duties as Foundation Managers. Under the Conslilulion any trusTee Inay ￿11 a meeiin8 of th¢ trustees, subject to which the trustees decide how iheir m¢ctings are to bc Called. and what nott¢c is required. The Trustees nomiall￿ meet three times a year but may meet morL frcquenily lo deal with specific issues. One oftheir number is appointed lo chair meetinBs. The Trustees have been concerned to keep professional fees to a minimum and in order to reduce these Costs the TnisteL. body as a whole has authorised certain Truslees to providc professional scrvices ai raies of rcmuncration below that which w'ould be charged in the open market. These arranbTcments allow ihose Trusiees lo combine their professional skills and knowl¢db>e of Ndherton Park io parlicipate in the maJiagi¢m¢nt of the Trust to a bTreaier extent tliaii would be expected of them as Truslees an(L accordingly. an Order made by the Charity Commission on h January 2018 ￿rnI]￿ed ihe paymeni of fees io Trusiees for professional servi¢e5. in accordance w7th specified conditions. I'hc constitution ofthe T￿st PCTmits a Trustec to enter inio a contract for thc supply of serviLes an(Uor oods to the CIO wliert that is permitted in accordance M'idL and subjeci io ihc conditions I￿ secl&ons 185 10 188 of the Charities Act 2011. Risk mana ement The Trustees have examined thc principal areas of the Trust's opmtions and considered the major risk5 faced in each of these areas. IT) the opinion of the Trusiees ihc clwity has establishcd re￿￿r¢e% and rcvÈew sysi¢ms which under nom]al conditions should allow these risk's ty b¢ mitsgated to an acceptable level in its da>-tO-day operntsons. The Trustees Lontinue optiini5ing the charitsble use of the Trust's income and assets for the benefit of disadvanta&ied children and youn¥ people. Ihe obJe¢i of the ¥harity being the provision of homes for disadvantaged children and young people kll the area of benefit and the provision of supplcmentary items. seTri¢es and facilities for thc sccure comtllullity hotnc iti Kyl(K Housc at N'etherton Park. Page 3 HetherLD Park TTUSt NFfHF.RT()N VARK TRUST REPORT OF TIIE TRL.STEES Iconliiiuedl Constitu ion and Ob ecls of the Tntst Tlie purposes of the TrnsL as set in the ConsliN1io￿ are to advan¢e in life and relieve needs of children and young people who are socially and economically disadvantaBed in the area of b¢nefiL ihrough.. Thc prol'l￿10ll of grants to support other arganisattolls and charitics ii'hick arc focused or. supportir.g disadi'ant8b)ed children and young people; Grant fundiiigp the delivery of edu¢ation, training. ji)b creation and other support services io PTon)ole their reiniegralion inio ihe community and panicipaiion in sociery as malure and responsible tndividu&ls.' supplements.nbi faciliiies for the physical and mental dev¢lorMneni of children and youiig people. particularly younb offenders who are ini'olved the judicial syslcm. aimed al ihe provision of social. recreattonal and leisurL' achviries designed io Improi'c their conditions ol- Iil'e," Gwant lunding the provision of supplementhry item& suvi¢es and facilities for Ihe benefit of childr¢n livin in Kyloe Ilouse. the secure community home at Netherton Patk. Applyinbv incoine or capital resourccs for the PTOViSiOll of homes for disadvants8ed childreii and young people in the arca of benefit. Th¢ area of benefit means Northumberland. County Dutham and T￿e & Wear. In sLthnb objLLtives and planningy a¢tivitics. thc Trustee5 have rebyard to the Chariiy Commission's publi¢ benefit guidanLe wheii ex¢r¢ising any p0￿e[S or dutses to wkn'ch the b?wdanc¢ is relei'anl. Rewiew f Aciivilies t)iii'iri%i ihe vpmr ihe Tni4lees paid vrHnls Inlalling £96 79% {?0?$. f.1 17,7?fi) tn <11p￿rt them the confidence, additional qualifications atid exp¢rien¢e to subceed and ￿ke w)siiive steps for themselves. iLiii - A s¢¢ond granl of £7.5(M) to support fundin&i in Walker lo support the vision "for ￿1 ¢liildreii and youn& people in Ihe north east lo be Lreaiive. confident. and actii'e members of so¢iety" by ￿Orking5 j low-income neighbourhoods. enabltng youn& people ￿>¢d 7 10 16 and their familics to desibn wid run positive Hnd Rccessihle activities. Most of this planned Work is a cnntlnl￿t1O￿ of pr(TrgTe%s made in ihe past year with s￿Clf1ed communities to promote. develop and support community i'oluiiteeritigi and )'oung l¢adersl?Ip opportunilies. in collaboration with local ¢ommuEiity org>anisations in¢ludinb) BlaLkliail Community Centre, Greenhills Centre. and Easington Welcome Centse. orth L t Youn Lods And Dads- A second Brant of &7.5￿ to support work to improve the lives of disaul'antog=d )'our,'. fathc*J and cxpc-tan: da￿ agcd ?< and Uith dcr. man). of iN'hoir, hai'c bccn oi'crlool%Ld or sidclined by mainstream sernices due io their a¥e. gender. past or present difficulties. throughout the rebblon. This is a ncw project dedicated to dJ"I'erse young dads. buildingv on the results of a diversity. pilot, with a particular focus on neurodiverse yOUnb' fathers aged 25 and under in County Durham. Tyne and W¢ar and surroLmding> are&s where high rates of neuroth"versiry have been U￿Oi.er¢d. This project provides young dads wtth posiiivc fathcr-child interactions role modellrd by other young dads and thc opportunity to Jncct d tu vthvr duds their w¥li 4t) ivul¢¥ tu aLL¥SS to utliEt vf suppurt. • ThePh ix Detached Youth Pro e¢i- A grani of £3.958 to sUp￿rt fundi￿1 in Not1h Shields lo help Lhildren and yOLtnb pcople grow physically. mentalty. and Spiriiually. so they may reach their full potential as inth'viduals and activ¢ members of socicty. The funding provides free young TKrson lcd activities and money towards social a¢tson projecis io benefit the community. These activities allow young people to develop, providin8 a¢¢ess to aciivittes that atlow them io spend lime with Inends without any tinan¢ial impact on families in some olihe lowest income bra¢k"els in the county. Pro ects4Chan - A g?tant of £7.417 for a project also inN'olviDg the LGA Foundation lo support delivery of targeted group projects to a ranb>e of )'oung wple and provide wider engageinent opportwuties to the whole comtnunity around Cowgate in Newcastle upon Tvue. This funding supw>rts ToasÈie Club sessions with a¢¢ess youth club sessions for 8-1 l year olds and 11-18 year olds. Actsvities include cook-ing, drafiing, sp¢akers. and enviroNnent31 atul mental health proJe¢ts. Young people also help plan holiday Prog￿￿￿¢5, trips alld residentsals. Page 6 NtlhcrEO2I FTtI_ERTOhf pA14V TIiITST REPORT OF THE TRl1fTEES {Loniinued) Object3 of the trust and review of activities (continued) fA vi er Teesdate A ricultiirnl Su ort es- A second a grant of £7.496 to suppon the primary aim to work ￿lIh &nd for ￿Ople in commwiiiies acTOSS the Duthan] Dales by addressing four n)ain issues. social isolation. health and wellbeing, access lo services and poverty. Thks is achieved throug)h the pro%'ision of infornialion. advice. ¥uidancc. training, resoUrCe￿ra¢ll1tics. social events. support ne￿or￿S and essential services. These community-led interventions are designed to mect the needs of local younb people. due to a lack of these kinds ot'quality opportunities in the most rnral parts of County Durliam. Funding for this training project is for younb people, beiween the ages of 16 and 25 year& who see iheir fuTure in fwming andlor land management. The linancial barrier to training will k removed by using the funding to pay lor traininby cosis and ¢quipmenl. Youn¥ ￿pIe are able to gain access lo the tr4ininbTr thai meets their needs, within their local Atea and courses atc sel¢Ltcd with the youns pcople involved. 10 inLlud¥ chainsaw and pesticide application. sheep she8ring/dippinb dry sione wallinU hedgTelayinb and first aid. in T)- In 2025 8 Arant of £7,5(X) had LKen made as a contribution to the Losts of fundin&F lo support a 'trKJys group. a diverse and d￿3mle giroup ofyoungp men froin warious ethnic backgrounds. includin&J Asian. Arab. ljlack. and Ukrainian communiiies. During) Ihc time allowLd under thc ternis ofthe grant. CREST was unable to spend all the grant on the specified project and. acLordinbily, £1.664 has been Tepaid. The TTUStees are ￿￿teful to th¢ Communitv Faundatinn fnT their &ssislan¢e and wryll c4)nlinue Io WnTk with them wilh the aiin of increasing grants ag the ¢h8rity'S income in¢rexse%. in order to inerease ihe impact And reRch the rusl can a¢hi¢i'e in meLtinbi lis chariiable objeciives. The Community Foundalion also work with th¢ Trusle¢s in establishin&F obJ¢¢lives for the branls and moniiorinbi reports froin the orbjanisalions receivinbi tlie wanls to e1151kre that the objectives have been achieved. .Jkn agreement Iliith Northumberland County, Council dated t Jul}i ?01? required a proportion of the proceeds of sale ol. land for developmenl in 2021 to be allocaled by ilie Trustees lo a Restricted Caphtai Fund cailed lh¢ NCC Restricted Fund. to be applied for the PUTpose of acquiring accommodaiion for children and young people in cord8nce with the ternis of that agrecmenl. £846,578 received for that purybos¢ is being held on bank deposit for Ihe purcliase of suitable accommodation that matches the Tequirernents of the Council and the objects of ihc Clwitv. Lengiihy discussions beiwcrn the Trustees and Ihe Northumberland Cow)ty Counlil s Children s Services Dii¥¥lvl'air liti￿e iijlitlllurd dii"vugliotsl (lie aknui ilie iii wliiili ilir Tiii>l diu dir Cviiii¥ii tyliil wol'k together 10 8cquire suitable propety. At the date of this repor( whilst the Council had identifjed propcrtlCS to be purLhased, they have ￿¢￿ advised ihat they are noi in a posirion to enl¢r into an agreement to use the thnds but ontinue to bc williIig to cxplorc the usc ofsuch fuuds in rclation lo futurc projccts. wh¢rc thcy can ensure there is no risk to the local authority. The financial statements are sei out on pages 12 ￿ 18. Land and property The tille ill the freehold land and property comprising kyloe House and the land Su￿Ound1￿￿ it was formerty held by the ()ffi¢ial Custodian tor c.harities in trust for the Netherton Park Trust (Rewstered N'wnb¢r 229667) gnd was transferred to the I'rust on 13 October 20?5. A fornial COUDlerpart lease betiieen the Trustees of Nctherton PaTk Trust (Regiisiered Number 229067) and Northumberland County Council has been in pl&¢¢ since 2017. wvering the continuingp operations of the secure chlldren's home. kyloe House. and occupatton of surrounding land. The Ttustees have been advised that a seciion 8 Notice served upon the Lessee (N'orthumbetland County Council) in respect of the lease, giving notsce of change of Landlord to the Trus¢ is suffjcient and a new lease does not need to be ent¢r¢d or varled. The l¢ase iVAll ¢ontfftue to the lattd. Pa¥ie 7 L.thwton I%ETHERTON PARK TRIIST REPORT OF TIIE TRtiSTEES (continucd) Investment policy #nd performance Raihbone Invesmieni Management Lid. have been appoinied to manage Ihe Trnsi's entire porrfob'o. The Investment Policy was developed with suppon from Rathbone Investment Managyemenl lo g)enei?te income from the investment wrtfolio to be applied in furtherance of the chaTitablc objectives. The aim is lo m&Kimise ii)cotnc over the medium lem whilsi preserving the real value of capithl over the long.temi. The Trnstees have a long-terni hori£on lo a¢hievemeni ofthe investment objectiN'es and il is anticipated thal capital M'ill retnain ini'csted indeffftitely. The Truste¢s review this objective rebiularly on & iollinLI 5-10 ye￿% basis. Risk is accepted insotar as li allows gyeaier flexibility and a greater expected return. The Trustees a￿ept exposure to risk 0￿er the medium tern). and hence an Increasing expected return over the same terni. I'lic I'rusiecs have agvreed a discretionary invcstTnent strategy in line with a straicbvic asse¢ allo¢&lion lo adopt reLoininended long-tenn asset class weibhiingi w.hich il is believed ￿111 deliver ilie invesbnent objectives. 'Ilie penDitted stratebii¥ Asset allocation weib'htinb)s and ranges under the investment framewo￿ allow adjustment io lia5￿1 claDJ Ih'cigyhtings ta￿1]￿811). as mark'￿1 ￿onditIo￿ dikniai¥. Illthin agrckd miii iifium a- maxi* tolwranccs. This discr¢tionary management suits Ihe dele8aled basis on which the Truslees wrysli inth'vidual ini'c5tmLnt and portfolio decisions to be made. The Investmenl ManagTer's long-tem) perforniance is measured againsr agreed benchmarks includinbTr C.Pl and intcrnally and indcpcndcnt cxtcrnally gcncratcd indirc5. Thc TTU5tCC5 a150 monitoi perf(mnan¢e half-yearly. unds realised from ihe sale of the property are fully invesied and the ponfolio. stru¢iur¢d in a¢¢ordgnce with straieby. 'I'he'l'ru51ees arL' satisfied with thc pcrfomiance of the portfolio and the effeci of prev￿]Inb) Inarkel conditfftons causingp tlie value to increase by £5?4,390. R￿erveS At 5tli April 20?6 the Trust's unrestricted reserves wnounted 10 £3.417.371 of whicli £2.1?9,945 is dLsiynalLd as Capilal. beiiigi die amounts Tealised from the disposal of surplus properties over the years, after capitdl ￿a￿lS lo the homL and costs incurred in achieving the s81e of the land. A Designated Fund primarily arising from SUTpluscs on inve5tm¢nls, has been establishcd by the Truslccs for th¢ gcncrntion of addihonal in¢ome lo support the objects of the C'liarity. In the event thal any of these funds is dtawn upon for the purpose of makin& gjranls of a capital ndlure foi tlie beiicfit of disadvanlagcd children and young people in the atca of bcnefiL ihL Truslees may replenish the D¢sigvnated Fuiid by all￿alIng￿ a proportion of future ￿earS inrome. At 5" April 2026 the Designated Fund had inLrcased to £ 1.228,345 reflcctsng the increase in the i'alue of invesmienis. The Capital and Desibinaled Funds iogethcr wilh the amount held in the NCC Restrtcted Fund should generate Tross annual inLotne in excess of £80.0(K) to applv to the Trust-s charitable purposes. The Tniqt hnlds mnnieq c.nllected frnm residents hv NorthimilKorlpnd Coiinfv Coiincil fnr fiihire m8intenAnc.e. nf a road on ihc Tntst's lau¢1 with £1,021 bcin¥ ttansferred by thc Coun¢il tn 2003. PrÈor to the meTger. this had been treated as a Te5tiicted fwid but legal advice and case law inth'cate that there is no oblibTation for the Tr￿¢ to Inaintain the road withoui all the residents adjoining the road first proNiding the relevant funds in excess of the amount collected. Residents have repeatedly resisted requests to proNqde thc funds and are noi lebially. obliged to do In ¥onsideration of the possibility that these monies may be ￿led UP0￿ the funds and batd( deposit interest rc¢ts...-.%-c b= ￿'￿t-end aruoullLd to £l:I18. Page 8 Pari( Trki*t NETHF.RTON P.4Rk TRllfT REPORT OF THE TR ', (Lolllinu¢dJ TEE Resers'es {conttnu¢d) The balance of Reserves comprises the General Fund, which at 5 April 2026 stood at £57.963. a decrease of £12.525 in the year primarily attributable to reflect thL Trustees. objLCtive to ensure that continuinby cxpcndilure OM Grant coinmilmenls keeps pace wilh income. The Trusiees. iniention remains that. in principle. this fund should be held at a levcl sufficient to suptx)rt one year's expenditurc. in line ￿7th the Truslees. intention to utihse tl)e charitv's funds as elfe¢iivelv as wssible within ihe constsaints of the objects. The posilion has been reached where incoine retained in prLvious years has allowed the Charity. s CU￿ent assets to be maintained at an amount broadly equivalenl lo the amount in the General Fwi& so the Trusiees should be able to increase 8rants as income improves. The NC.C Resrri¢ted Fwid of £846.578, contains ilie Temaining part of the proceeds of Ihe sale of the property, in a¢¢ord$1n¢e with an a8reement ￿'1th fNorthuinberiand L ounty i ouncil daied 7". July 2vi 7. 1 his is held in a sei)arale bank deposit a¢¢ount whilst dis¢ussions wilh the Cowicil are continuinB ￿nCernIng uiilisation of ihe Fwid. Incoine received froin Ilie NCC Restricted Fund is noi required io be returned io the Reswicled Fwid and is available for use with the other gTLneral charilable funds of the Trust. Plans for future pcriods Following the sale of the eslale al Netherton Park in June and inveslmeni of the pr￿CedS. the Trustees ulilisc incom¢ gT¢n¢raled by makin8 granis thai are consisicni *ith the Tr￿1.5 objecis and Teserves poli¥y and will pursue opportiinities for makinb grants thai are sufficienil), substhniial lo make a diffcrence for Ille orbbanisalions io which they are iiiade. In adth'tion. the Trustees are continuing discussions with Nortliumberland C"ounty C"ouiiLil to acquire accommodation for di5advanta&Jed childTen and young people. funded from ihe NCC Restri¢led Fund. Statement of the Trustees. rttpottsibilities in relation to the financial statements lThe 'l'ruslees are re5pon5ible for preparinbr the Trusiecs report and ihe financi￿ statemuils in accordance with applical)le law and United kinbydom Accounting* Standards (United Kingdom Generntly Accepted Accounling Praclicel. The law applicable to Charities tn England & Wales requires the TnLSt¢es to prepare financial statements for each rinanlial yLar. whiLh bliTr'e a true and fair iiew of the state ofalTairs of the charity and of the incominb) resources Rnd application of resources of the charity foT that peTiod. In Preparing these financial statement4 the Trustees are Tequired to.. select suiiabl¢ ac¥ounting polilies and then appl} them consistendy. obserN'e Ihc mcihods awEd piinciplc5 in thc Charilic5 SORP: e judgements and estimates that are reasonable and prndent. stale whethcr appli¢able a¢¢ounting standards have been followèd Subject to ony material departiires di￿105¢d and explained in the financial st8temenls- prknparc th- fiilanknial Siaiknifi¥lltrJ ofi goirJ8 coll￿￿￿ basis unlcas it inappropriatw to pr¥SUftl¥ that thc charity. ¢ontinuc in busincss. The Trustees are required to act in accordance with the Constitijtion and the njles of the Trust ￿￿thIn the framework of trust law. They are responsible for keeping pro￿[ accountmg records that disclose ￿lIh reasonable accurdcy at iy tiine th¢ fman¢ial posÈtson of the ¢hority' and enable th¢m lo ensure thai th¢ finan¢ial statemenis coinply with the Chatiries ACI ivi i ana the Lhan"ry (Accounts alla Repons j Reguiaiions 2iJvo. They are also responsiDle for safegbuardinbl the assets of the charity and hence for tMkinLi reasonable steps foi the prei'ention and deiection of fraud and other irregulatities. Page 9 N7e*hÈri&n 'ETHERTON PARK TRIIST REPORT OF THE TRIISTLES (contsnued) Independent Examiner Simon Browij B,1 ACA DChA of Azets Audit Services h&$ been apN)int¢d for the CUTtent year and will be re- appointed as independent examiner for the ensuin8 year. Small C'omp8ny Provisions This report has been prepared in accordance with the provisions applicable to companies entitled to the sinall ¢oiiipanies cxcmption. Approved by the Trustees on I September 2026 and signed on their behalf by.. S P Alexander Chair of Trust¢tJ Pa8¢ 10 INI)EPEYDENT EK4MINER'S REPORT TO TRI,'STEES OF I%ETHERT0￿, PARK TRIIST I report to the truste¢s on my examination of the financial statemcnts of Ncthcrton Park Trust {tbe Trust) for the year ended 5 April 2026. The Tmst is Foundation Charitablc Incorporated OEwsatson. Responsibilities and basis of report As the trustees of the Trust. you are responstble for the preparation of the f]naticial statements in accordance with the requirements of tbe Charilies Act 2011. I repon in respeci ofmy examination of the Trust's financial staiemenrs ¢arried oul w)der section 145 of ihe C.harihes ALt ?0 I l. In caTryin¥ out my examinatton I have followed the Directions given by the Charity Comtnission Lthder scction 145(5Xb} of the Charities Act 2011. Independent examiner's statement I have completed tny examination. l confirm that no matters hai'e come lo my allention in cojjneclion ￿1th the ¢Xl￿￿natIon giiving? me cause lo believe that in any m￿erial respeci.. accouniing records were not kept in respect of the trust as required bj, section 130 of the Charities Act 2011. 2 the finanLial statements do noi accord with those recor(ts: or 3 the finanLial 51aiemenis do not compl￿. with thL' appli¢ablc requirements concerning) ihe fonn and conienr of finaneial stateTnents set out in the Charities IA¢¢ounis and Repons) Res>ulations 2008 other than any requirement thai the financial siatemenls bvive a true and lair view. which is not a matter considered 15 part oran independent examination. I have no concern5 and have Come across no other matters in connection wilh the examination to which attention shoiild be drawn in this report in order to enable a proper undeTStanth"ns of the financial statements io be iEa¢hed. Sinion Brown BA ACA ￿lL4 Azets Audit Servic¢s Bulman House Regent Centre Goslorth Newcastle Upon Tyne NE3 3LS 02 Page 11 NCthrrl￿ll P DcbtOlS 86.419 980.4J7 07 90:,938 956.678 1.067,929 CREDITORS: AMOLINTS FALLING DUE WITIIIIY ONE YEAR ET CURRENT ASSETS l O?(Tr 606 4.263.949 3.790.091 CRLI)I'foRS: AMOIIN75 FAI.LING DliL ATrTER MORL I'IIAN OI%E YEAR 9 TOTAL ASSF.TS I.F.SS LIABILITIES £4,263,949 £3.775,091 REPRLSLNTED BY: Restricted funds: NCC Restri¢ted Fund Road Fund 846,578 846.578 1,118 Unrestricted funds.. 10 2.1 ?9.945 1.2?9.463 57 2.1 ?8,995 727.912 Designatcd General 2 927 395 £4.263.949 £3,775.091 The notes on pages 14 10 18 forni part of Ihese fmancial slatements Approved by the Trustees on I September 2026 and signed on their behalf b).: S P Alex*nder M L Ranson Trnstee Page 13 Park Trust NF.THF.RTnN PARK TRIIST NOTES TO THF. Fl￿A￿C.1A1. STATF.MENTS for iheyear ￿ded ith April 2U20 Accoullting policies Accounting convention and basis of preparatbon Tb¢ financial statements have becn prepared undcr the historical cost Conventio￿ with iterns rcco&yTrtscd at cost unless otherwise stated. The financia] slatements haN'e ￿en prepared in a¢¢ordan¢e with the Statement of Recommended Practice.. Accounting and Reporting by Charities preparingp their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland ITrRS 1112), the Financial Rcporting Standard applicable in the United Kingdom and Reptsbli¢ ollreland (E.-RS 102), the Cliarilies Act 2011 and UK Generally Accepied Practice. The Trust constitutes a public benefit cntity &$ defined by FILS 102. On 7 April 2026 the mer￿￿er of Cliarity ??9667 with ihe Trust was registered in the R¢g)isteT of Mergers with a transfer date of13 Oclober 2025. The Trusr coinmenc¢d operaiions on 6 April 2025 and the PTeN?ous Charity No 229667 was Temoved from the central Regisrer of Charities on * April 2026. As the mcrbied Chari¢ies mLel the criteria for meryer accountingp. this rcport and the financial stalements lor the '¢ar commencing? 5 April 2025 have been prepared in accordance with the inerb¥er accouriiing reguireinenls. Going concern The Trustees Lonsider thal there are no malerial unceTlainlies at*)ut the Charity's ability to continue as a yoing? concern for the foreseeable future. Accordinbily. the financial statements aTe prepared on the byoinb, conccrn basis. IJ Ini'LStmcnl income IncoinL from Ilie sale of property is siaied nel of value added i&x. Invcsmient income is accounied for on a receipts b8SiS. Resources expended Liabilities are reLOV)ised as resour¢es expended as soon as there is a legal or construciive oblibyation Lomiiiitlillbl the ¥h#riry tv th¢ ex￿n￿li￿re. Ail cxpcndiiuic is accvunivd on an acLruals basi5. Expenditure on charitable activities includes grants payable and supp)rt costs. Gr&its payablc are.. Agr¢¢d grants paid during the year Agree(i granis whi¢n nave not t)ccn paid i￿1 for wkn'ch there is a contracwal agrecmcni To pay in future years or which are payable oll the satisfaction of a condition OTh the part of the girantee which l)as not yel been satisfie¢l Liabillties in respe¢1 of payable in future years are not discounted to net presenl value. Ini'estments Investments are a forni of basic financial instrwnent and are initialty Tecognised at their cost and subscqucndy mcasured at fair value as at thc balance sheet date using the clostng quoted market pricc. Proceeds from sale of righis issu¢$ are credii¢d ￿laIn$1 the cost of inv¢sttnent. The Staiement of Financial .4Gtivities includes the unreali5ed gains and10sses arisivtg on reva]uation of inN'estmcnts held ai the year-end and thc rcaliscd gains and10sses on disposals thioughout the y¢ar. Th¢ main fonn of fiiiancial risk faced by the charit5. is that of volatility in equity and inveslment M￿ketS as result of wider economic condittons. the attitudes ofinvestors to invesknent risk, and changes in scnlim¢ol Loncemin8 equÈb'es and M'ithiti particular s￿￿r$ or sub sectors, Pagc 14 N:..thÈ.Iloii PakTiust NETIIERTON PARK TRIIST OTE.S TO THF. FIN'.4NC.1.41. ST.A TF.MF.NTS fijr ihe J'ear ended.•ih April 2026 (eoftiiAued) Income nv Diwidcnds - Uk Equilies 2026 2025 ?9.87? 41,115 Dividends Foreign Equilies and Unit Ttwsts (net of foreign tax) Bank dcposit interest Other interest 25.329 10.656 21.391 79.￿8 91,812 80.118 91,812 charitable Activitiej 2026 2025 Grants: Ne￿.£aS11e City Council - Piano for Brid¥iewa*r Primary School 5,027 t3eiwiLk Youth Projeci - Northumberl8nd 7,500 Blaydon Youth and Community Centre- Gateshead 7.500 Blue Watch Youih Centre - Sunderland 7,500 Choyscz- Bedlin&yton, Northumberfand 7,500 'ds Kabin - Walker, Newcastle upon Tyne 7,500 North East Youn& Lads and Dads - Gaieshead 7.500 The Phoenix Detached Youth Project- North Shields 3.958 Projects4Chftnge- Cowgaic. Ncw¢asile upon -1 7.417 Upper"I'¢esdale Ag?n¢UItur￿ Support Services- Barnard Castle, Durham 7.496 C.ompM¢t fi)r Race Equality in South Tyneside Eigiht Oth¢r Cffanls Pwd in 2025 'lolal grants S.￿0 7.500 7,500 7.500 (1,664) 67 Support costs: Fees in respeci of plannin8 consen( propert>. mark"etin&F and title to the Nctherton Park estate. charged to Capilal Rcscrve.. Legal fccs on disw5al of property - 2026." {0s'crprovision} Professional Asjents. Fees on sale of propety (950) 1,75? 165 Administration costs. charged to General Re5cr¥e: Grant Athnlnistration Leba] Fees Accountancy Fees Insurance Examination fee Meeting expellses. Postage. storage aud misceuaneous expenses 7.665 9,567 3,6?7 6,000 12.(K)O 545 4,740 338 398 Total support ¢ost$ 795 Total charitable activitie8 91.682 114.0?1 Pagc 15 p￿￿1￿. Tritst NF.THFRTnN PARK TRIIST NOTES TO THE FIS.4NCI.41. ST.4TEMTr"NTS Jor the J'ew ertded 5th April 2020 (continued) Charitable Jc¢Avities- Support eosts {Loniirtued) During the year a Tmstee, Mr M L Ranson. was paid £12.(KK) (2025.. £6.0(Kb) in resFKct of the provision of professional services as a Chartered A¢¢ounthni. The other Trustces resolved that the work Mr Ranson had performed on behaEf of the Tr￿t was consisient widi their objective of keep￿, professional fees lo a minimwn, thal ihe remuneratiot] paid io Mi Ranson was at a Tate below iha¢ which w'ould have been charged in the open m￿1"e1 ftnd Allowed him io combine his professional sk'ills and kno￿.1edgc of Netherton Park to panilipatc ¢n the management of the Trust to a greater exlent than would be expected of hitn as a I'iustee. The payInent coinplied with the Orders made by the Charity Commission approTringi the payment of fees for professional services under the ¢onditions specified. Subject to the above. none of the TnLStees bave Ixen paid any ￿MuneratIon or received any other benefils froIn an employinenl Vilth the charity. {?0?5". £N'ill. Misccllaneous expenditure includes reiniburseinent of £Nil {20?5.. £1? l) io Mr Ranson for expenses hc iDcurted on behalf of tlic Ch￿ity for miscellanLous adininistration costs. Property As Lxplaiiied in the Truslecs. Repon. the Ttusi's land and buildinbis ai Neiherton Park" were originally transferred to Trustees in Ihc 19 Ccnlury to be held in accordance with the tenns of the Trust. Follow'iiibTr the c105ure by Northumberland County Council ofihe open children's community homes the Trustees completed Ihe sale of the propety for devclopmcni on I l June ?0? l. Proceeds from ihc sale of properties have beei) credited as Capital funds and ihe pn)fessiona] and lebial fees ass(Kiaicd with obtaining plaiining? co11s￿lts, esthblishints) litle lo ihe properts, and achiei'inb> tlie sale have been chargi¢d lo the C.apiial Reserve. The remaining freehold prope￿. the secure children's hoine knoThTr a5 Kyloe House. is leased with suffoundinR I￿ld to Northumberland County Council for a contraciual ierni of 25 vears froill 7 ' July 2017 al a pcppercorn rent. The oribiinal cost of Ihe18nd and buildingTS at Nciherton Park is noi known and the property is held in ihc financial statemcnis ai 8 nominal value of £1. In the opinion of the Trustees the cosl of obtllining a professional y￿Ut for Ihc leased freehold Property and the usefulness of the rcsuliing figure, given the assumptions that il would be necessary to make, outweigh the knefils lo be gained by tlie us¢rs olthe fmdnLial slatcn]ellts. Pagc 16 Ni-thc-tton J)ark I[￿St NETHERTON PARK TRL'ST NC)TES TO TIIE FINANCIAL STATK,MkNTS for Éhe J'ear ended 5th Aprd 2020 (conlinuL7d) Fixed asset investments 2026 2025 Quoted investments Mork¢t vAlu¢ at 5 April 2025 Acquisitions at cost Pr￿e¢d$ of disposals Net realised and unrealised (losses) gal￿ in the year 2.853.g)3 224,656 (?18.946) 3.045.599 683.041 (812.4iO) lark¥l ￿aluC at 5 April "026 3.i84.003 2,853.903 The 8mowil of ouoled inveslments ¢omprises'. Investments held for the long tern) Undistributed I￿orne retained in investment portfolio 3.334,774 1767.484 Market value at S April 2026 3,384,￿3 2.853.903 Bank b4lAnces 2026 2025 Ini'cstmcnl Accounts alancc in liivcstm¢nt Capital &¢¢ouni NCC Re51ricted Fund Deposit and Coinmuntty A￿OUnts Income Account 9,-177 846,578 32.994 82.2AO 846.578 980,43 1 Debtors 2026 2025 Other Debiors n72 Creditors: Amounts falling due within one year of suggested chAnges 2026 Graiits payable AL¢nthls 15.(XM> 27.500 27,504 Pagc 17 N:.tlier*O Patk Trust NETHERTON PARK TRIIST I%OTES TO THE FIN.4NC".I,IL STATENIENTS Jor iht Jear értdéd iih April 2026 (co￿1#￿￿d) Creditors: Amounts f#llirtg d￿t After more thAn one veAr 20*6 20•5 Grants payable 15.000 io Funds With the exceptson oft. the NLL liestn¢ted trund lotailmg &'¥46,57¥. atl the I n￿'S other tunds are unreslri¢led. The tksignated Fund h&s been establtshed for ihe geneTation of income to support the future objects of the Trust. The C"apilal fund represents the nct proceeds from disposals of property interests. The I rusfees may draw on th¢s¢ lunds for the purpose ofmaL.iJig sranis ora ¢apital nature. In the event of inakingi such ¢ap:tal ￿￿￿.Is, tr.= Desi" -led Fwid ma>. be replenished from future income. Income b)enerated from L4ese funds is credited to ihe Gelleral Fund. The Trnst holds monies collected from residents for futute road maintenancc 2nd transfeTTed from Nortl)Iimb¢i'land County Council in ?(X)3. FolloM'&n8 the merger with the CIO and lo be consislcnl wilh its purpose. this Road Fwid has been iransferred from restricied funds and trcaied part of dessbnalLd [￿)￿. The inovemciil on unrestri funds Charitable activities 23.968 2.7.968 950 .1 ot*1 92.b32 iyiv) A li.¢)iV (12.525) (?3,957} 950 (35,532) Transfer Net.'ains on ini'estments Net income and net movement in fund8 (12.525) 501,551 950 489,976 Balgnee ¥t * April 2025 BalAnce at S, April 2026 727 912 2 128 995 2 927 395 57.963 1.229.463 2.129.945 3.417,371 The Desigmated Funds Comprise.. Designated Fund Road F'und .228,345 li Related Party Tr￿n￿et10￿5 Details of all related party. transa¢tions are set out ID Note 3. Page 18