Sir John Priestman Charity Trust Report and Fln)In¢lg1 StAtements 31 December 2023 Ch&rity nutnber 209397
Sir John Prlestman Charity Tnjst Refence and Admlftistrative Details Constitution The Sir John PriestwBn Charity Trust 1$ a charitable t$1 govcmcd by its Trt Deca. 11 is a regtsteTed charity DO. 209397. Trustees The TnletS who 5crved during the yw were.. T R P S Nortou (ChairDl P W Taylor T W Greenwell J Mijer F Nicholson Offlees 47 John Srreet Sunderland Tyne and Wear SRI IQU Accountants Stephenson Coates Litnited Wcsl 2, Asonja Courr Newci$tl¢ Busines5 Park Newcasile upon Tync NE4 7YD Audltorj Arm8tr0ng Wiuon Audit Limilcd On¢ Strawberry Newca$de upon Tylle NEI 4BX Banker9 W¢tstherby's Private Bank S&nders Road Wellingborough Notthampton NN84BX Investment Advllors RBC Brewin Dolphin Time Ccntrgl GAllowgate Newcastle upon Tyne NEI 4SR Sollelttrrs M¢Kenzie Bell 47 John Str¢¢t Sund¢iland Tyne and Wear SRI IQU 0rItIng area The Trust's 8ciivities 4Te mainly cottfined lo the areas of the fortn¢r Counti of DuThatn And York¥hire.
Sir John Prtestman Charity TnJst Trustees, report for th• y•ar •nd•d 31 D•c•mbor 2023 Formatlon of tbe Trujt The TDJStwas e$t4bluh¢d by a S¢ttlement dated 31 March 1931 made by SirJohtt Pri¢stman*nd altered by stherncs of the Charity CDthmission dated 19 Detemlxr 1958 HDd 29 December 1997. By t 8¢h¢Tnq of th¢ Clwity ComttU55ion datsd 9 Avgu$t 1993 the Charity becathe th inooTporJtcd ctLQTity pursuant to the Charitable Trt¢¢5 tu¢oryoratianAci 1872 la$ imglldedby tFLe Charities A¢t 19921. 2. ObJe¢ts of the Trust {11 By the Scheme of th¢ CharityCommiuioTh dated 29 Dt¢ember 1997 the Settlerneot w8salt¢nd, int¢r ali&, by ihe d¢leiion Ih¢Tcfrotn of all ref¢rences to the Clothtih8 Fund. This effKted the mer8er of the ClothiuK Fund and the General Fund from l JinuBry 1998. 121 Tht objicts of the Tt al¢¢red 4nd wJAphrased but with the s¢¢tion¢d numberin8 Shown in the SettletfLent a¥ used in Note 2 to these fLtyin¢iAI giatotn¢DtsI 0.. la) The feeding ofpcwJr in the Courjty Borough of Sunderiand limeB of di8trcss. (bl The paymeut of auLui¢i¢s to old agcd poor p¢rsoD8 TtsidiD8 in the Coullty of Durhatll. l¥) The provisioft of Bdu£atioD il English University of young tnen canth"dale¥ for Holy Ordets in the ChUh of England who e re$id¢nl in County of Durh8m #t th¢ timt of th¢ir a55istsnce. Idl Th¢ establishrnent or tn&intenEnce of h05Pit4l or convalescent hom¢ in th¢ Cvunry of Durh&m for thc beTrefil of the poor of the County. lel Th¢ ¢mploymellt alld piyment of tturso¥ for tht oick 4Dd th IL the COuty ofDurbam. lfj Th¢ mlkn'ng of donaiions to aoy cNb]e th¥tithtion for the benefit of anypetsoN iithbitsnts of the County o(tMrb8m and in particulorof the Lounty Bomu8h of Sund¢rlarLd. lil For the benefjt ofmember8 of the Church of England.. (l} Building. tnailltsitiin8 fiunisbill8 lincludg provi8Lon of or$8ns1 rbur¢b#, Oii88iOD alld schools in the Coutttie8 of DurhDrD DDd York. (21 The relief. if in necessitous ¢ir¢umstsnc¢s, of mioiJters of the Church of En8l•nd who bve WQTknd or may bc workiD8 in the Counties oCDurhatll or York and rhe relief of widows or famili48 of iny such persons vtho tnay be itt Lece$$itous tirc1iul5tLc¢S. (31 Any 8pe¢id u8¢ for PUIPOSC 5Lmilar to Ibe foregoi08 iti •tty p•rtof England Bnd for such other ¢barlt4ble purpo4¢4 a6 th¢ Trust¢V8 llwy d1th.
Sir John Priestman Charty Tnjst Trustees, report ftr th• y•ar endgd 31 D9mbr 2023 3. Struttsrt, Goveraan¢e MaftagemeDt 111 The Trustce8 meet quarterly knd make 811 deci8ions Te8arding illve51mellt8 llnd payment of grants. (21 AtcoiirLIitL8 records 4re mawtailled on behalf of the Trusiees by Mesm Stephellwn Coales Limits4 AccouDtallt8 wbo pres¢nt quarterly matt&gemerti accounk5 to the fruslees. {31 All other admini$irilion in¢ludins th¢ processing of grant 4plicalions prior to consid¢rntion by th¢ Tru$ie¢5is carried out by N4tKcnzie B¢ll Lid Soli¢iiotS. 141 Trwlees are appoiuled by the existing Trustees pursuon¢ lh¢ provisions of the Seiilem¢ni and the Truste¢ Aci 1925. NEW TtU51c¢s are found from the coniacts and person?1 knowl¢d8e of existing TrusEee$. The sim of Ihe Trusice5 in making oppoinlmertis is 10 hav¢ a rans¢ olskills qualifications and ¢xperitnc¢ suited 10 achieving th¢ objects of Ihe Trusi os $¢1 out in th¢ Seitl¢rnertl. 151 Oll 4ppoitttment. TnJsiee$ are provid¢d with o copy of th¢ SettleEueai aod Charity CorothtJsion betnc& Ihe mogt r¢£eni iudil¢d fRn¢la1 5t4iemeuts aDd inve8tm¢nt reports And rrlilluies of Trusi¢¢$ meetU8. The ¢KperiertG¢ of the pcrsons Qpwinied usually means tbot they havc ts undersr&ndth8 of the T¢sponsibiliueA of o chAfity trustee. bui Whe necessary 8uidRn¢e ig Hvailable from the Tru$t's solicitors. R¢lev8nt Charity Commi&sion publi¢41ions are al$0 avoiiAble 10 the TrusteeB. 4. Rlsk M8nagernent Th¢ TsiteS hove ¢ongidered iny Tisks 10 which The Trust might be exposed Bnd ire saiisfied thai the •dminisiraiive, invesimeni and finjncial pro¢¢durts which iTe in Plt. minirnise th¢ risk ofrLny10sS lo Ihe Tlwi. Thc postiion 15 tevi¢wfd regularly by th¢ Tnle¢S.
Slr John Priestm8n Charity Trust Trustees, report for th• y•ar endod 31 De¢¢mbèr 2023 5. Gr8nt-m4king Polley? Almi #nd Objective$ Th¢ obj¢cr5 of (he TtUSI arc furthcrcd by the making trf grants from the ineome of thr TrusL 121 The ptiacipal objocr5 of thc TNSI, save those relaiing to churches, 911 require b¢n¢fiis 10 be provided for TSon$ Tesidin8 in Sullderland or Counly Dutroam. In the easc of ¢huTches, the seo8raphi¢AI are is ¢xt¢Dd¢d ro includc the County of York. The Trusl is unable 10 provide benefits dtrecily and IherEfoi¢ to achieve its. objecis by tnaking 8rant5 to other Uniicd ngdoM Registered chaiitics providing benefits lo pcr4ons in Ihc5c arca5. This 18 the method adopied by forner tTuslccs for many y¢&rs a5 a mean8 of 'tsppin8 into. fi¢lds of Charitabl¢ Cxpertise serving the generttl pubbc in the omingted areRs. 11 ensurts a wide Are&of knefil and h4s hcet) most SUCCtS5fv1 over Ihe years. Only in speiial case$ are 8rarLls mad¢ ouisid# Ihese geographi¢AI AfEas or to individu&l5. 131 The Trn$rees 5upporr g number of ¢hariiies by way of regul4T annual grAnr5, but otherwise the Tru5tee$ Aim where pos$iblt lo Jward grants for specific projects. In this way the Trusice5 lo aS5l51 charitie5 to gchieve particular objectives such 4$ aGquiring orTcp1acg css¢niLal equipmtnt or extending Ihe scope of rhe benefi15 wbich they providc. However 8fAnlg tow4rds genetil Costs are considered wh¢r¢ e%seniial to the benefits bein8 PTovid¢d. In rnaking granrs th¢ TThstc¢s are particulArly CDncerned to cslablish thfjl projl'cis drt viablt. A¢¢ordinKly Fanls may b¢ pward¢d subject to sucb condiiions $ 10 ndIng or othcrwi5e 85 the Trusi¢e5 considcr appropriAre and payment is dcferred until Ihc ¢ondiiions are satisfied. If these £artnol be fulfilled th¢ 8ranl i¥ Dnccllcd. 141 The yants awarded to churches Are for buildin8¥ rtstoring, 4li¢rin8y enl4r¥ing. mainiainin8 and fijrnishing (including provision of or¥Jn8I for the bettefii of tnetnbcrs ol'ilie Church of En81ond. The Trusi¢¢s r¢cognise the Challenges ftsced by Pdrishe5, often in deprived 4re¥5, in maintaining historic churcb buildins$ whi¢b often fulfil a vital role in the wider COTnmututy. W<re n<ce55aryi the Trusiccs ¥¢¢k infornarion from the diocese rclalion lo such appli¢alions. IS) Thc Trusice5 policy is ¥enerally kn award rnode5t 8ranls to a telaiively14rge numb¢r of bodies rdih¢r than è ftw lar¥¢ ¥rHnts. Thc chariii¢8 SUPPOrted covcr a wide range of acrivities. In thi8 w&y th¢ Tnjsiees aim 10 provide for a wid¢ variety of nxd5 of peTsons resident in Ihc g¢ogr¥hi¢AI 3re8 of Iht Tnjsi. 161 There Is no fixed apportionment of grants beiwccn the variDus Tru51 obj¢cls,' eaoh ippls¢aiion is deeli with on ils merits. Ifa 8rint 15 for ? Specific pToj¥ci. the tecipieni is asked 10 ¢onfimi when the projccl l5 cornpleied. REvlew of A¢vItIeS and Performn¢e The 8ran15 made durin8 IbE year are lislcd by objecl c&t¢¥vry in Note 2 Ihe financial 8iai¢menis. Graftis paid lo churchey PL58111 to obJECt 218111) tolalled £li2.500 and as5isicd 22 church¢s io maintain or impiove thcir builLlin¥s or organs. In leldl the Tru51 gupporlcd 136 chJri11¢5 with granis iolalling £579.565. The support of the Trust 8ssisl¢d mAny chariiics whDsE ndraIsing had bccn adversely allcclcd by the Covid-19 p4nd¢mic and Ihose fa¢tny increased demand for their 5¢rvii¢5 due 10 Ihe ¢051 of living crisis. A grant lo1111n8 £3.520 awarded to on¢ charity In Ihc financial year w95 a150 canrcll¢d in Ib¢ year, Annual reports and accounts ar¥ obr&in¢d from ¢hariiie5 SUPPtsrta annually to ensure $uch grants remaift appropriaie. The p051tion 1$ rcyicwed by the Trn.5t¢¢s on a re8ular basis. The remaindcr of Ihc gran15 listed oih¢i than ihe regular annual grants referred tg in p)ra¥raph 5131 werc aw8rd¢d at Tru5tees' quarterly meeting5 during the year in resp0ts5e lo numErous applications received by the TnJ51.
Sir John Priestman Charity Trust Trustees, report for th• ygar endod 310è¢omber 2023 Publi¢ Beneflt The Trusr¢¢s have had rc8ard lo lh¢ guidance cotttaed in the Chariry Comrnis5ioner's Genoral Guid8nee OD public benefit wben rcviewing their FLiTn5 8nd objeciiycs. Th¢y consider ihai the broad ran8e of Charities and nuTnber of Churches assisted demonsiraies a wide public benefii Ihrou¥hout the Trust's geographical area and thai the Tn( gQli&fies thc Commi8yion'$ requir¢m¢n15 on public benefit. RepLln% received frotn Churche& and ¢hkniies on Ihe COTnpl¢lion of ¢1[ granr.aided PTojectS Lndicate thoi th¢Trusl's achievemcllls in relation to this objecnvc continue to be Of $ignificoni benefir lo th¢ communities &crved by the$¢ ¢hurch¢s 8. Fln3ncl&l revle 111 The v81ue of th¢ Trust's investmellts h)5 increased by £382,977 ov¢r the previous yt8r and total funth havc in¢reJsed by £432,812. The increas¢ in the valu¢ of investm¢nts is duc purely to [Irket faLiors and could tiucNaic both upwards and dowtswaid5 in Ib¢ comin% year. 121 The invlslmcni incomc of ih¢ Trust Increased durin8 Eh¢ year by £44,084.Gr&nls piid or payable in¢r¢ascd by £162,015 compared with Ihc previous year. The overall in¢orne fund reserve$ of th¢ TTu$I havo decreased by 1127.078 ai 31 Decembcr 2023. lTrv#iiment pollcy and performAnte The TTUSI IJ endowed iharity with p¢rnianeni endowment only is dependeni solely i)n Income from its invcsEmeni8 10 [flI 115 objects. The Trusl¢¢s invtsirneni objeGlive is Ihcrefore 10 rnrtiniain and enh&nc¢ Ihc value of the fixed asseis over Ihc long Icrn ln order 10 maintain and if possible i#¢teose the income avxilablo for the purpuse8 of Lh¢ Tru81. This policy had. over a number nf years, lcd iv an In¢rca8c In the Trust's irtvesimeni Incume.'fht invcslrncni in¢om¢ in¢re&scd in 2023 &b referred 10 in pardgraph 8121., Iherc wa5 4 sieady r¢iuvery ID Ihe 8encTal levcl vf dividcnd income after the Silf1rn1 r¢du¢iion due I Ihe cffecis of the Covid 19 paiidemic. InvesimL'nis and prujeLied inu)m¢ ale revicwL'd quarterly 4nd perfnnn4nr¢ compared wilh appropriate indices. Takin¥ Inio account rhe overall ¢conorni¢ and financial P0811ltsrt inve.$lTn¢ni perfomiance in rel&lion io boih capilal and incom¢ has be¢n saiisfacrory. The Trust¢cs ¢vn¥id¢r Ihai Ihe S&ndard basi¥ of Invc8ttneni with capi1 gains ac¢nLin8 10 Ihc p¢mnellt endowment continues 10 b¢515¢rv¢ the Trust. Capital growth had protected aod would coniinue 10 protect iht in¢orno enyble Ihe Trusi 10 fulfil its obji'¢is in IhL' fllre. Rtytrvei pollcy Reserve5 represent the b91ance of unre8tricicd incornc fvnds which 48 ai 31 DeL'crtLber 2023 was £344,521. It is the policy of Ihe Trustee5 Iv r¢tain sufficieni intorne in rescrvc, subjeci lo fluctrjation in tlie value of the Accumulaied Incum¢ Invc&imertl8 lo ensure ihai in the eveni of 8 5i8nificdlil redullion in income the Tnjslees could ai ILasi mainlain ih¢ r¢¥ulai grints EO Ihosc ch&rilies which have comc lo r¢ly on Ihcm, Ih Tn81 having no expcndable endowment revtewing the Icvcl of reseryes Ihv TNsteLS ¢onsid¢r thai reserve5 Ot'Approximaiely 9-12 monih.E expenditure aTe appiopri&tt The Trustees will continuc lo rcview the level of ie5eTVeS on A quaiicrly basis lo en$iirc that adequate attd appropriate reserve5 are mainiaitted. Future PIAns The TNsiees pl&n to coniinue the poliryof rnainiainiDg Dnd enhancing thevalucof Ihe capital in the u)diurn to long Icmi in order to proieci the futur¢ incom¢ uvaiiable 10 fllifil Ih¢ objecis ofthc Trnsi. The balanc¢ b¢twe¢n curreDI and fiLrure income will however continue 10 b¢ tnonitored clo.%¢ly to enablc the Trust 10 &inlain or incrca.* 115 current 511PPLIrt to cburches and charities. Jnvcslment 14¢eMent The hcading of Inv¢stmenl Man&gcmcnl Costs In thr Staleinenl olFin3ncial Acliviiies retlelts RBC BTewin Dolphin's ¢hdr¥es on a managemeni f¢e b8Sts, Statement of Tru$tee$' Re5ponsibilitie$ The Ttusiees are rcsponsibl¢ for preparing the TtU51cES' liep(>rl and the Iinancial staiemenis in accordance with applicable law dnd Uniied KiIJ8dom Accoun¢ing Standards (United Kingdom Generally A¢ccpLcd Accounting Pra¢iicel.
Sir John Priestman Charity Trust Trustees, report lor thg ygar •ndod 310•cgmbèr 2023 The lllw appli¢&ble to chariti in England & Wal¢s rrquir¢4 th¢ trust¢e8 tD prrp&r¢ finon¢ial $tstern¢nts for each ftial year which give a truc and falr vi¢w of the Sta of affair$ of the chry and of the tncoming Itsouwes gDd applicaiionof rourceS ofih¢ ¢harity forthatwiod. InprepIng thu¢ financial 5tatcm¢nts, the tru¥tcu r4uir¢d to.. Select Juitsbl¢ 4c¢oullting pjlieies and therj apply CO11$[entlY,. Ob5¢rvr th¢ thodS and principles ill the Charities SORP: M4k¢ judg¢ments llnd estimates that are re4$0n4bk It pnJd¢nt.' Stst¢ wh¢th¢r applicable accounttng 8tandard8 have b¢•n follow¢d. 8ubj¢¢t to Arty m•t¢ri41 d¥parni th'$closed attd expillin¢d the fjnancial 51atemellls' QDd Prewe the ftswicial slal¢ffl¢nts on th¢ goitL8 concern ba&is unleB8 it is inappropriat• to ptesume that th¢ charity will CODtiDue in business. The tNsreeJ ore re5poLsible for kecpirJ8 prop¢r r¢oords th41 di103¢ with rcasonable aurneY ai any lime the fmancial position of the charity 8nd en1¢ them 10 ensure that the fina181 $iaiements mply witb the ChBrit1¢5 Act 2011. tho Charity (Accounts and Report81 Regulorions 2008 the provision5 of the tru81 deed. They are &180 responsible for ¥Bfi8u4rdin8 tkn aiwts Df the rh•tity and h¢D¢¢ for tskn'n8 Teasomble steps for the pr¢v¢Dtion and detection of fraud and other irre8ulwities. In so th¢ B04rd of Tnle¢S ij awaTe.' There ij no relqv•nt audit infOrntIOn of which the ¢harity'y auditorj are unoware.. 8nd Th¢ Board of TThteeS has uken ill the siepj thai it ought 10 hav¢ txkett to mt Ilf awar¢ of any relevoni rLudit lttfonndiiotl *tLd to istnbllih fhat th• auditors are Aware of that i[Ltoall0ll. On betsf ofthe truiteu, T R P S Nortoft- Trustrf T W GreerLwell- Truste¢
Independent audltors, report to the Trus¢a•s of Slr John Prlostman Charlty Trnst Oplnion We have audilrd the fiMncial siaietn¢nts of the Sir John Pri¢slmon Ch4rity Tru&1. for the year ettded 31 Dcc¢rnb¢r 2023 which Cotnprise the siaietnent of financial aGlivitie8. the b&San¢¢ sheet. the staiemeni of cuh flows and nore8 to the ftn4n¢¢al 8taiements, Including A summary of siBnificanl accouDlin8 policics. The finart¢ial reportin8 frnework Ihat hos been Applied in IheiT PTBpdr&lion i5 applicablc law and Urtiied Kingdom Accouniing Sialldp, includin8 Financial ReportinB Standard 102. Th¢ Financial Reporting Standard applicable in the United Kingdom and Republic of Irelqnd (Unired Kingdom Gertertlly Acceptod Pracuce). In our opinion the fJnan¢ial ststcrnents.. give & true fair view of the $tst¢ of the Charity's affairs as at 31 Dcccmbcr 2023 and of its incoming resourceg and application of reiourr¢3 for th¢ y¢ar rhcn ended,. have be¢n properly prep#r¢d in ordanCe with UrritEd Kin8dorn Generally Accepted A¢¢outtiirt8 Practice." &nd have be¢n prepared ill &¢¢ordatKc with tbe rwuirctnettts of th¢ Chwiiies Act 2011. BAilJ for oplnlon We conducitd our audit in accordanGe with International Stand8rd$ ott Auditing IUKI {ISAs UK) attd applicable law. Our r¢5ponsibiliiies undcr Ih05e stsndard5 are further describcd in lh¢ Audiior. regpoa51biliiicJ for the audit of the financial s(&ietncn15 SeCtIOD of our report. We are independent of th¢ Charity in accordanc¢ with the ethical requircm£nr5 that are relevant 10 our audit of the finyncial 5r4tsments in thc UK, includin8 the FRC'S Ethical Standard, ortd we have fulfillrd our other erhical responsibilities irt accord&nce wilh these reqtsir¢m¢nts, We believe thai the audit evidence we have obtaillcd is 5ufficieni &Dd 4PPTopriatc to Provide a basis for OUT opinion. Conclujlonj relatbn8 to 8olng totsrer In 4udilin8 the fiJJanEiAI stsl¢menis. we hav6 eon¢)ud¢d ihal the TNstees' use of th¢ Koin8 concern b48i¥ of accouiitin8 in the preparation of the financial sralemen18 1$ appropriat¢. Based on the work we h8ve peifornled. we hive not idenlificd any m8t¢ri&l uncertainiies rel8tin8 10 events orconditiotts that, individually oreolleclively, may casi significani doubt ort the Charity's ability lo coniinue 8 o going CODcern fora period of at Itast twelve months from whetl Ihg finaThci41 slttemeni$ are aythoris¢d for issue. Our r¢¥pon5ibilities and the respon5ibiliiies of the Trtte$ with re$pe¢t tD going CODcern 4re de$cTibed in the relevant swtions of thi5 report Other IDfortlltlon The othcr inforrnaiiort comprises the infoTtnation included in thc Trust¢c$' report other than the fanCIal Siaiemenls and our audiior'g report th¢re(kn. Th¢ TTusiees are responsible for th¢ other informaiion. OUT opinion on the financi&l slalements doe5 not cover Ihe other informaiiDn and we do not expr¢55 4ny forn) of as¥urance cunclu5iOT) thereon. In conttEcl)QD with our audii of the ftllaDri41 statements, our respollsibility 18 to Tead the other llJforn1ioll anit in do8 so. ¢on5idcr whelhEr the other infotinalion 15 matcrially incon5i5tent Wlth the financial statements or our knowledge obtained irt the audit or otheThvisc appears to be materi&lly mi55tatcd. If wc Idcntify such tnaterial incgn5k4tencies or apparent rnaterial rni5StAl¢tDents, we are requited lo deletttutte whether there is a maierial misst4m¢nr in the financial st8temettts or a m&t¢n&l mjsstalemeni of the other infonnation. If, based on Ihe work we have perfornied, we conclude thai Iheie is a material rnisstalement of this oiher informaiioo, we are requtred to report th&1 fact. We have nDthitLg to r¢port in this reE#Td.
Independent auditors, report
to th¢ Truste•s of Sir John Prf•$tman Ch•rlty Trust Iconllnuadl
M•tterg oll whkh TFe •r¢ requlrtd to report by ¢xcepiio
We have nothing lo report in Tespecl of the following matters in relatiort 10 which Ihc Charities (Accounts
Bnd Reports) Re8ulaiions 2008 requwe us to report to you if, in OUT opinion..
the informatioL Bivett in th¢ Trustees. report u in¢oosi$t¢nt any terial respect with th¢
finatscial statements., or
sufficient atcounling records tlave not b¢en k¢p¢.' or
th¢ financial sraiemeniy are not in agreement with the accounting records: or
wc h&vc not received èll th¢ information and expiaDatjon8 w¢ r¢4uir¢ for our audit.
Rup)wibUltleJ of Trustees
As cxplained more fvlly in the TNsl¢es' respottsibililie5 51alrTrenl set out on p48e 6. Ihe Trustees ire
T•spen8ible for the preparation otihe flnancial stalvrn¢nts and for being satisfied Ihlll th¢y ¥iv¢ and
fair view, And for such iniernAI control as the Trustees deiemiine 1$ necessary to enable the preporaiion of
financial stem¢ni$ ¢h&i 4re free from maieriAI tlli5St4Eemcnt, whether due to fraud or error.
In preparin8 the f)n4n¢ial staiemetsis, the Tru51¢¢5 are responsible for isse88in8 the Ch&rity'5 Ibility to
continue as a goin8 ¢0rt¢¢rn, di$closingb as applicable. mattern related lo going concern and u$in8 the SO8
£ortc
Independent auditors, report to the Tru$t¢e$ of Slr John Priostman Charlfy Trust l¢ontinugdl enquiry of the Trustees and Ttiwew of any r¢l¢vanr ¢off¢spond¢n¢e with 1¢881 advis¢rs regarding ajy inswJ¢c5 of DOll-compLiance with laws regulatio]Js And Ally aCtuRL suspecl¢d or alleged commutti¢dtUJ8 ideDrified laws and regulations and th¢ risks of fraud with OUT engagement team and remaining alert to any indication5 of non-compliance or fraud; gaining an Uterstanding of th¢ int¢rnal ¢ontro15 ¢siablished to mitigate risks relarcd to fraud. examitiitt8 Supporting documents for all mateTial balances, tralltions and disclosures: review of the minu1¢5 of th¢ board of T$eS.. rcvicw of accourttfftg esiirnalcs for Trustee ovemde and bia$'. analyli¢il procedures lo identify any unusu41 tran5aclions', Jdentifyiug tr51ing journal eoiries. Owing to thc inherent limiiaiions of an audit. Ih¢rc li In unavoidable risk thai sorne material rni55laternents of the fLnan¢iAI st&letn¢nls may not be detected. even though the Rudil 15 pfopcrly plonned and performed in accordance with the ISA$ IUKI. The ponti&l ettc¢ts of ijthereni limitatiotts are particulllTlYJiificanl in th¢case of misst8trmeal resulting from fraud because fraud involv¢ collusion, forgery. inieniioual otni5SLon$. misreprcscntatiorjs OT th¢ override of iniem81 ¢oatrol8. Th¢ prialary re8ponsibility for IheprevetttÈon and de¢tion of i¢Sl811eS ittcluditt8 frnud rests with th08t charged wilh Bovtrnan¢e. A further description of our r¢spon$ibilities for (he audit of the financial statemeoty is located on th¢ Financial Reporting Coun¢il'5 web511e at www.fr¢.or8.uklauditorsr¢$ponsibilit1¢5. This de5cripiion forn paff of our audLiof'B reporL U$¢ of the ludlt report Thi$ r¢port is mnd¢ solely to the Cbarity's Trustee$ as D body, in 4¢cordJn¢¢ with Part 4 of the Charitie$ IAc¢¢uois aud ROnSI R¢gulaiioD5 2008. Our Audit work ha5 b¢¢u UDdenllk¢tL so th41 we might 51are to th¢ TLUYt¢CS those matters we are required 10 5tAte to them in an illdepettdeot auditots, ieport foi tto other purpo$e. To the fu11¢5t extcnt p¢rmitie¢] by law, we do noi accept or 4sume respousibility lo gnyotle otbcrthan the CharitygttdCharity'$TnLSt¢¢S &5 i body, forour4udit work. for Ibis report, orfor the¢psnioDs w¢ bav¢ fonned ArmtTOTrg WatsoTr Audlt Ljmlted One Strawb¢ry Lane Newcastle upon Tynq NEI 4BX Date. Zoi Arn51rong Walson Audii Limited is eli8ible for &ppoinlmenl as audilor of the Charity by virwe of its ellbilIty for appoinlmeDi as 8udiior undeT Section 1212 of the Co[np1C5 Act 2006.
Sir John Priestman Charfty Trust Statement of financlal activities lor th• yow ond•d 31 D•e•mb•r 2023 Incorne Cqpitsl Accoun¢ Note 2Q23 2022 INCOMEFROM.. Income from UK lDve8tmts Jts¢ome from fo18 inv¢stsn¢tLts HSBC b4llk interest 348.374 191,89S 1,007 348.374 191.89S 1.007 362.933 1342S9 Total 341,276 541,276 497.192 EXPEIVDITLIUON.. tnvutm¢nt llJana8em¢ni cosrs ChalabIta¢$IYII¥- Grnnts payable in fvrthlTc¢ of ¢barity's objcctives Support of ¢lL1bIg a¢tivitles 45,456 45,456 45.721 579.J6J 51,222 579.565 51,222 417,550 49,049 To¢•1 •xptDdlturt 676,243 676.243 512.320 Net (expendltsjrel I In¢ome Il34.9671 (134,9671 (15,128) Net Oos##l I galll$ Invutm¢n Realised Ilosse8118iills on of fixed Auet investmetlty UnreAli$ed11053eyl 18&ins oll fixed •s¥et EllVC$tMI$ (31.3181 131,3181 {1382541 7,889 591,208 599,097 {1.1&),880) TrAnrfer betrveeD fvJdi Net movemeot lu fundi In yeAr Totsl fiwd5 brou8bt forwud {127.0781 599.890 432.812 11,314,262) 471,599 14,759,207 15.230,806 16,545,068 Total fuadi carrkd forward J44.521 15,319,097 15,663,618 13.250,806 A]1 a¢dvities ar¢ ¢ofttinuiJ)R. 10
Sir John Prleslman Charity Trust Balance sheet at 31 D•cornbor 2023 2023 2022 Notes JnvcuDnents 4 15,512,933 14.929,956 C*rr¢wtUrl DcbEors Short (c deposits Cuh &¢ b4nk 134 12,810 293,674 38,339 119,494 177.833 Il7.L481 306.618 15,768) Cr•4ts•TJ.' allts fAllinR withill oue yeor 160,685 JOO,850 {10,(x)01 15.663.618 15230,806 CAPLt41 fiJttd8 8 15,319.097 14,759207 tn¢om¢ fvmth unrtrICtl 344,521 471,599 15,663.618 15230,806 Approvedby the Board of Tnthes ou . and Sign9 b¢bilf by.. RP S Norton-TnJst¢¢ T W Gre¢nwBII- TTuJlee
Sir John Priestman Charity TTUSt Statement of cash flows at 31 D•c•mber 2023 2023 2022 Noi Cllih flovrd frfym op¢rNthi •ctlvlttei JV•¢e¢th &i¢dth •p¢ralins 4¢(Ivltles 10 {654.729) (S242231 Csh flo fr•m IDvt8tl¥ &ttJvltle5". Dividelld8 and inteTeSt from invt¥tsneDts Proce¢ds from Ye of llivwtrD¢Dts PuTcb&5e of inve8tmetsts 541.276 497.192 201,252 884.146 1365,282) 1723,1321 NIt¢Ashpr•bY optrrfdn¥Art4vlrt 377.246 658206 Cb•nge ID t41h and <a•h •qulv•lellts Ill tb• r¢portlD8 p¢rlod 1277,4831 133,983 Ind caih equlv•leotJ it the b¢8lnnln8 Ottbe rtportln8 Ptrlod 541,542 407.559 C4ib and eath tqUly•Dts t the Mld ofthe r¢ptsrdn8 pèrlod 264.059 541.542 •f¢ub *Nd 4qu1v¢Tr C4th al bnnk Short ttnn d410sitS Lon8 term derA)sili 119,494 58,339 86.226 293,674 12.810 235,058 Tot And egih equfvahnts 264,OS9 541,542 12
Str John Prieslman Charity Trust Notes to the financial statements at 31 Decembr 2023 Accounttn8 policies B#$15 ofprep4Mrfr)ft The finatL¢ial slatetrlens have beell prepBTed under the historical cost convcDlion wiib item$ rCColS¢d ai cost un1¢55 oih¢Twise siaied. Th¢ finallci81 siaieTnenls knve b¢¢n prepared in accordance WLth the Cbarities SORP IFRS 1021 Accounting and kepotting by Cbariiies". Siatem¢nt of K¢cotsllncnd¢d Pi&cticc applicable 10 chariiies preparing their accourlts In accordaace wirh the Financi41 ReportLnBI Siandard opplic&ble sn the UK and R¢public of Lreland leff¢Ltive l Januory 20191 and ihe F2naJJcial Reporting Sland4rd applicabl¢ ith thc Unit¢d KIngdum and K¢public of Ireland IFRS 1021 and Ihe Charities A¢1 2011. The Tnjst con$iifu1¢5 a public benefIl ¢ntiry a5 dcfined by FRS IQ2. The acceunis h&ve b¢¢n prepared on a soing concern basis Ls th¢r¢ no matsri&l un¢ertairtlie$ About the charity's 8bility 10 ¢onlinu¢, Pror¢xediloA c¥rr¢Mcy The finanLiAI siaietnen15 ar¢ prepared in Sierlin81 which is the fijnclional ¢UTTency of the TnJsL Unrestrityled income fijrtds cornprisc Ihose fimds which theTruyiees arc frttto Usc foranypurpoje in furtherance of IhL' charit&ble objects. The T51 h43 & pemiBnent ettdowmenl, IAVe$thrciiiy Inve&lmenr$ 8re a fonn ofb&siG fin4n¢iil instyumeni and are iThitiAlly recogniied ai their w8t and 5ub5equenily mea8ured at fair value pt thc balance shc¢i dDte 8encrdlly usin8 the tniddle mdrkei pri¢¢. Proceeds from sole of ri8his issues 4credIt¢d a8ainsi th¢ r¢l¢v&ni proportion ofihe LOSE of Inv¢stment. The Siatemeni of Firt4n¢i41 Acliviiies irt¢lude$ lh¢ urLrealised gains and1055¢5 ari$in¥ on revalllation of investments held ai the year end 8nd the realiscd ¥41n$ and 1053e5 on di5po$815 Ihrou¥hutst th¢ y¢ar. Cash ai bank and cash in hand in£ludc3 cash and short tsmi hi8hly liquid investments wiih a short rnaturily of three month$ or I¢s5 Prom the dale of acqui51Eion or opening of the dcpo$iE or similar accounL Cri41fvry andpro¥lsl¢M$ Creditors and provi5ion5 arty re¢ognis¢d whcr¢ the charity has A present obligation re8uliing from i p4$t event th&1 will probably ie5uIt m the transfer of thd$ lo a ihird pwty and the amount du¢ to 5¢nl¢ Ihc obligaiion call b¢ measured or esiim&l¢d reliably. CreditOTS and provisions Arc nom)ally reco8ru5¢d at their scttlcmenl amoullt ft¢T Bllowing for any Iiade di$¢ounis due. Th¢ ITU$t only has financial assets and finatjcial liabilili¢s of a kind thai qualify ay b05ic financial in5rnJments. BL%iC finaDcial instrutncnts arc iniiially re¢o8ni5ed al Iransaciion valuc and subsequently meH5ured 41 Ihcir settlernenl value lolher Ihan ittvegitnents 95 notrd above). All incom¢ is reco8niscd once the chatity ha5 ¢nlitl¢mcnt 10 the ill¢QTne, Lt 15 probable that the inLome will be rrccived and the atnuunl of income receivdble cart be tn¢asured r¢libly. Investment income is ac¢ounEed for when receivable. Ineome from bank dep0811s is accounted foTOn g received b&%is.
Slr John Prtegtman Charity Trust Notes to the financial statements at 31 Dgcernb•r 2023 Liabilitses Bre recoswsed as exp¢udi)Jre L8 8oou as ther¢ is & legal or ¢onstNctive obli8atioL ¢oroti)ittwg the charity to th¢ Cxpelldltu. it is problble that 5ettle]TMtwiU be required Jnd th¢ &rDounto£tht oblig4tiorL can b¢ llJea8ur¢d reliably. All exp¢ndL'tur¢ i8 a¢¢ouDkd foroD £rUal$ba&Js And beell ciA5sified uttd¢T beathllg8 that Q8gr¢g&te all costs r¢lated to th¢ category. ljrnnts payable ttTe.' Agreed 8r4nts paid durin8 the y¢AT A8reed 8r4Dts which hovo not been paid but whi¢h are payabl¢ the $isfaction of a conditiotl ou the part of the yEnt¢e wbicb not yet beett satisfled. 14
Sir John Prieslman Charity Ttust Notes to the financial statements at 31 Dob•r 2023 2. GraDtI 2023 Durham Chri8tian Pèrtn¢rship Suttdeiland Community Soup Kitchen 3,000 10,000 13,000 2r123 M4rie Curie C&nttr Care MtJtipl¢ Sclerosis Tru51 Si Belledici's Hospice 4,500 5,0 5.000 14.500 2023 21. Sunderland S¢ Andrew's Soi S¢ouls Age UK Sunderland Asthma Rclief Baro&rdos North FA$t Ble$m4 Blind Veterarts UK Blig$ Cancer SuppDrt UK Cauldwell Childr¢n Cknild Brain Injury Tst Chronicl¢ Sun5hitte Fund Chrott's in Childhood research CHUF Church Army City ofsundedand YMCA Cl¢rgy Support Tru8t Comnjuniry Foundlltion for the High Sheriff$ Fund Tyne & W¢Br Cotltact Crackerik Cbildrett'8 Trust CRUSE DeafblindUK Depaul UK Dream Holiday5 DurFLgm Association of Boys and Gtrl$ Clubs Durhatn Cathedral Schoo15 Foulldatioll 2,0(Y) 4,500 J.(xJo 2,500 2,000 3.000 3.000 4,OiX) 2.000 2.000 5,250 2,000 5,0(M) 2.51X) 2,5tlO 2,QIM) 3.500 500 1,550 3,205 5,(KJO 8,000 7.500 15
Slr John Priestman Charity Trust Notes to the financial statements t 31 D•¢emb•r 2023 Durham High School Durbam Scout Counry Council Durham Wildlife Trnst Euington Laoe Corntnunity Access Point Family Holiday Chttrity Friends of Barbara Prie8imAn Academy Ccor8e Hud4on'5 Chari Grace House Happy Day5 Childrett'$ Chariry Heal & To¢ Children5 Chariry HeDry Dallcer DAYS H¢rton Buddies Hord¢n Communiry WelfaTe Foothll Club HospiiAlity & Hope Houghton Boxin8 Club Humbeldort Outdwr Aclivitie¥ Association Ind¢peDdence ai Home Indepettdenl Age Inspiring Minds ising Pop Kid'5 Cancer Charity Lamblon Street Youth Cenrre Learning Libr Listening Book8 LiviD8 P&iniiDgs MacMillHn C&Dc¢r Support Macular Sociery Minerva Arts & W¢llb¢ing Charity Mobility Ttust More than GrandparetLts MDtQT N¢urone Disease A&8ociaiiorJ 4,700 3,000 1,500 2.500 3,600 1,000 8,500 S,0(M) 5,000 s.000 4.000 sio 3,000 5,000 4,000 5,000 5.000 5,0(M) 3.000 1.500 5,0(M) 3,5tK) 3,000 1,5(X) Nonh East Dementia Care ISurLd¢rlattdl North EH51 Dis8bilJlies REsource Centre 6,0(10 2,51K) 2,500 2.500 10.000 3.520 3.500 3,5110 North of En81gnd Djstrict Boys Brigade Northenj Ctsurtti¢s Children'5 Benevolent Society Northutnbria Coalinon Against Crime Northumbri& Deaf Mi551Qa NSPCC Bishop Auckland NSPCC Sunderlattd ogsis Comrnuniry Hou8uJg 16
Sir John Prtèstman Charity Trust Notes to the financial statements at 31 D•¢•rnb•r 2023 Outward BouDdTru3¢ Parker TNst io.000 I,ooo S,IK)O 3,500 2.000 5.000 S,<M)O 2,Ih)O 2.000 3,000 3,500 2,000 3,000 Parkin50D'¥ UK PDSA SuDd¢r14nd Pellott CoJJmuDity Wejfare Food)ail Club Place2Be PBLI React R¢4u8a8 Royal Airforce Btnevol¢nt Fund ROYAI British Legion Poppy Day Appeal ROY Nation&1 IDStiNtsoll of Blind People Royal Nition&l Lif¢bo&t InstitutLOlI- Sunderland S4lvulion Anny- Sunderlat Samariianj of Sunderland Spgech & LanBe VK SSAFA Tytto knd W St John's Atllbulallce Suud¥YlAttd Cultur¢ Sunderlaod Ouiid of Help Sunthrlllnd Nonh DiviAiOL airl fJuide$ A$w¢iation Sunderlattd North Fllmily Zoni Sundirland scout Council Sunderlsnd South Division G1 Guides AsBociauon The BriiishPobo Fellowship Sunderlalld The CaiDptrLill Village Trust. BottfrD The Cirth SRilin8 Trust Th¢ Dystoni8 Society The GuidB A$socialiorL DurtLHm The Move Partnership The Police Community Clubs of Great Britsitl The Princes Tr1 The Sick CtrLiidren's Trust Thc Sund18nd 0hal¥t and Edllcatiortal Found&tion The Wildlife & Wetlands Trust Walking wiib the Woullded W&thington fvding Cintre Whizz-Kith 3,000 3,500 2.500 5,000 3.000 5,000 3.000 3,OlY) 3,SLX 2.500 5.000 5,WO 8,500 1.850 3.IXJO 3.(X)O J.000 i.lxjo 2,000 Wiuow Ygwru 17
Sir John Prieslman Charity Trust Notes to the financial statements at 31 D0mber 2023 Young Women'8 TnL81 Zoe's Plac¢ 8,0 390,085 Grunts approved cAn¢tlled In the ye•r Northumbria Deaf Mi55i0n {3,S20} 3R6 565 2023 Borningb&uL Paroclual ChurcEL Church's Conservation Trust Friends of Dutham Cathedral GreaLham P4rocFLial Church Council Hillside Church Holy Trinity Church P4nsh of Hish Sp¢n & Rowland% Gill PCC of Si Luke Monoo Fabric Fund Slingsby PCC St Chad'$ Colle8e, Durham St Caiherinc's Church Si Cuihbert's PCC Si G¢org¢'s Church. Faifield St Helen's Churcb AtMih¢Y PCC St Ive8, Chur¢h, Leadgaie St Lawrence PCC Si Lawrence the MAnyt Si Mark's Cburch. Newby Si Michael & All AnBels E¥h & Ham8teeLs PCC St Michael le B¢lfrcy ChuKh Wakefield Cathedral B.QOO 8.500 4,500 10,ooD 10,O(M) 6.5 7.0(X) 3,000 7,WO 10,000 2,000 5.000 15,000 7,000 10,o(y) 10,000 15.000 8,000 5,000 150 500 18
Sir John Priestman Charity TNst Notes to the financial statements at 31 Dec•mbèr 2023 2023 Bishop ofDurham's Discrctionory Accounr Church of England Pensions Board T)urham Diocesan Boird of Fujancc 3,3(M) 3,0(M) Toi418ranfs paid Icondiiionally pay&bl¢ 579 565 3. Support costs of ¢h#ritabl¢ act5vltles 2023 2022 Legal and profeJ5ionHI fees Audii fees (for audit 5CTvices1 Bank ch&r8¢8 46.110 4,752 360 45,055 154 51,222 49,049 4. Investments 2023 2022 investinents Cash equiv41¢n15 on deposit 15,426,707 14,694,898 86226 235.058 15,512,933 14,929,956 QMoredthveJi*ientr 2023 2022 Market value al l January 202J Le55 di3)salS bayed on markrt v&luc dl l January 2023 Add acquisiiions ai eosi N¢t UDreali5¢d11055es) l £aills On rev110 al 31 December 2023 14,694.898 16.155.046 1232,5701 11.022,3971 365,283 732,132 599.097 11,160.8831 Market value ai 31 December 2023 15,426.707 14,694,898 Historical cosi ai 3l De¢¢tnb¢r 2023 6,387,918 6,473,086 19
Sir John Priestman Charity Trust Notes to the financial statements Bt 31 December 2023 All inv¢8tm¢nts are camed at their tsir value. Inv¢$trnents in ¢quit1¢5 and fixed iDt¢resi securiiies are all traded in quoted pubitc mEk¢ts. Tbc bthsis of fa value [orqt¢d inv¢slaJents is equival¢at to th¢ m4rk¢t Pri¢¢ USillK the middle mark¢t price. Debtor8 2023 2Q22 M¢K¢nzic B¢ll 134 134 6. Credltorj 2023 2022 Govrrnan¢¢ ¢05t5 Accrual Granu payable 15.948 1.200 3.768 2,000 17,148 5,768 7. Grnts Condltlonally payable 2023 2Q22 B4lnLCC at l January 2023 GT4nls approved but not paid durin8 the y Gr1$ approved in a prior year and piid durin8 the year 15,000 10,(KJo 115.CfjOI Bal4n¢¢ at 31 December 2023 io,rA)o 20
Sir John Priestman Charity Trust Notes to the financial statements 31 D•cember 2023 AnAiysls gf llet asjets between fun Capital fynd Income Tofrtl Fund balance5 al 31 Detember 2023 are represented by., Fixed ass¢1 Investtneots Debiot5 Cash ai batth and short t¢rm dEP051t8 Creditors D¢fctred aoLI 15,319,097 L93.836 15,512.933 177,833 177,833 (lo,0) 110.(M)01 Toi81 Det a55e 15,319,097 344,S21 15,663,618 Artolysts ofnel asseis &ehw¢nfyndS-previoyeOr Capiial fvnd Income fynd Totol Fund ban¢t& al 31 Decemb¢r 2022 are repr¢KllI by.. Fix¢d *s¥t itlV¢Skn¢nts Debtor$ Cash at bank and short tenn dep05Lts cditOrs D¢ferr 8rani8 14,759,207 170.749 14.929.956 134 134 306,484 306.484 {5,7681 15.7681 Tolxl u¢1 8¢ts 14.759.207 471,599 15,230.806 Related pirty tr&nJxLtlon# Durin8 the year ertd¢d 31 De¢emb¢r 2023 £26,780 (plus VATI12022.. £26,460) wa8 paid to McKcnzie Bell, Solt¢ilors, in respect of 4dminisrraiion Services providEd to the Trusc PW Taylor, 4Trusiee w88 a consultant of McKentie BEII Lid during th¢ y¢4r ended 31 December 2023. Durin8 the year ended 31 December 2023 grants p&yAbl¢ of £8,5QO12022. £8,51X)I were made lo Gcorge Hud50rt'g Charity, a charity in which PW T&ylDr &ct8 a s Trustec. The Ttee5 are auth0ri5ed to widertake Ihc5e IransactiorL5 under clau$e 9 of th¢ 1931 SeitLemelli. DuriDg the yEar¢nded 31 DBc¢mb¢T 2023. theTn]sle¢s were DOI reimbursed for out of po¢kelexpEllSts incuned 12022.. £Nill. The Tnt81 COtLsiders Il8 key management personnel lo be the Tr1¥$. The Tlet$ th"d oot re¢cive ally emoluments th¢ yw. 21
Sir John Pde5tman Charity Trust Notes to the financial statements at 31 December 2023 10. Recon£iliatlon of net (expendlturelnrncome to net cash Ilow from oper&tlng ictivlti¢s 1023 2022 Net {expendltrJrel I IncoTNt for the repordttg pérlod 432.812 11,314,262) Adltsatmtnti for: Lo&8e8 1 {Giin$l on inv¢gtm¢rtl$ DivideDd5 and iDtCTeSt frollj invesbll•lllS DecrnaBe I (Increase) in debrs {De¢reI I Ittcrease in creditors 1567.7791 1299,134 1541.2761 1497,1921 134 1,025 21.380 Il2,9281 Nel ¢uh uitd l* op¢rAtlo1 •rtivltks (654,7291 (5243231 22