Sir John Priestman Charity Trust Report and Financlal Statements 31 December 2024 Charity number 209397
Sir John Priesilnan Chanty Trust Reference and Administrative Details Cons¢ltutlon The Sir John Priestman Charity TTUSt is a ¢haTitable trjst govemcd by its Trust Deed. It is a registered charity no. 209397. Trust¢¢s The Trustecs who served during the year were: T R P S Norton IChaiTmanl P W Taylor T W GTeenw¢ll J Majer F Nicholson Offi¢es 47 Juhn Sir¢¢¢ Sunderland Tync and Wear SRI IQU Aceountants Stephenson Coaleg Limited West 2, A5amu Court Newcastle Business Park New¢a5tle upon Tyne NE4 7YD Audliors Amislrong Waison Audit Lirnii On¢ Strawberry Lan¢ Newcasile upon Tyn¢ NEI 4BX B*nkers Weathcrby's PTiV&te Bk Sanders Ro Wellingborough Northampton NN8 4BX Investment Advlsors RBC Br¢wtn Dolphin Time Central Gallow8ate Newca5tlc upon Tyne NEI 4SR Solieltors M¢Kcnzic Bell 47 John Slreei Sunderland Tyne and Wear SRI IQU OperatlDg ar The Trust's activities are MnlY confined to the areas of the fomer counti¢s of Durham and Yorkshir¢.
Sir John Priestman Charity Trust Trustees, report for tho y•ar endad 31 0Mr 2024 Formatlon of the Trust 'rhv Trust was established by a Settlement dated 31 March 1931 made by Sir John Priestman and altered by schemes of the Charity Commission dated 19 Dcccmber 1958 and 29 Dccembcr 1997. By a scherne of the Charity Q>rnmi&8ion dated 9 Augusi 1993 the Charily beearne an incorw)rated Chwity pursuant w the Charithble Trusiees Incorwrauoft Aci 1872 la5 amended by the ChaTitiC5 ALI 1992). Objects of the Trust By th¢ s¢heme of the Charily CoTllTlli55ion dated 29 December 1997 the Settlemcnt was all¢. inter ali4 by thc dcletion iherefrom of all refcrencLs to the Clothing Fund. Thts effected the merger of Ihe Cloihing Fund and ihe General Fund fTOrn l Janu8ry 1998. 121 The objeas of the I'ru%t las altercd and paraphed bul with the sectioned numberin8 shown in the Sdtlemenl a5 UsEd in Nole 2 to ihe5e finuncial stOL¢mentsl ar¢.. la) The feeding of poor in thc County Borough of Sunderland in times of dtstre55. Ibl 'fhe paymcnl ol'annuiii¢5 10 old a8ed and infim Four p¢rson5 residing in ihe Coun¢y or Durharn. {cl The provision of cducation at any Ln81ish UniwLYsily uf young mcn as ndIdaLe.$ for I loly Orders in the ChurLh of En8land who are resident in the County of Durham al the Lime ot. their assisiancc. Id} The establishment or maintenancc of any hospital or convale%cent home in the Counly of Durham for the benefii of the poor of Lhe County. (el The cmployment and paymcnt of nurses for ihe sick and infirn in the Counly of Durh&m. (Q The making ofdonations 10 Any charitsble instilution for th¢ bEnefit of any pcrsLins inhabitants of ihe County of Durhom and in particulNr of Ihc County Borough uf Sunderland. Igl l.'or ihc bcncfit of members ofthc Church of Lngland.. {1 l BuildirtB, maini8inin8 and fumishing lincluding provision oforgansl ¢hur¢hc5, rn1&5iun ha115 and schools in thL. Counties ofDurham and York. 121 Th¢ rclicf. if in nece%.8itou¥ eirLumsiE4n¢es, ofminisiers ol'ihe Church of England whv havc worked or may be working in Ihe Counlies ()f Durhdm or York and the rrlicf of widow% or l¥miliLS of any such persvns who mdy be in necessiious Lircumswices. Any.special case for any purp)s¢ Similar to ihe foregoing in any part of England and for such other charitablc purposes as thc Trusl¢¢s may de¢ide. 131
Sir John Priestman Charity Trust Trustees, report for tht yg•r ended 310gGgmbgr 2024 Strurture, Governance And Manggement 11) The I'rustees med quarterly and make all dccisions regarding investments and payment of grants. 12) Accounting records are maintained on behalf of the Tru5tce$ by Messrs Stcphenson Coates Limited. Accountants who present quart¢rly mana8ement aceounts io the Trugtees. All other administyation including the proce55in8 olgrant applications prior lo considera¢ion by the Trusiees is ¢arTied oui by MCKene Bell Limited, SolicitOTS. {41 Tru5tec5 arc &ppointed by the existing Trustees purSnt the provisions of the Settlemenl and the Trus*e Act 1925. New Tnjstees are found from ihe conta(Ms And p¢rsonal knowledge of ¢xtsiin8 Tru5tce5. Thc aim ofthe Trustees in makin8 appointments is io have a ran8e of skills qualifi¢Aiions and experiencc suited to Achieving ihe objects of the TTUSI as sei oui in the Settlement. (5) On appointment, Trustees are provid¢d with a copy of the Seitlement and Charity Commission Schemes, the most rtcenL audited financial stalcrncnt5 and investm¢nt reports minuLes of Trustees meetings, The ¢xpcri¢ncc ot. the per50n5 aPTx>ind usually mean5 that they hav¢ 8 8¢x>d underst2ndin8 of the resporbsibilitlC5 of a chllrity tn151ee, but wh¢re Thece55ary 8uidanLe is available rrom ih¢ Ttusi's solicitors. Relevant Charity Cummission publications are also av4ilabl¢ to ihe Truste¢s. (3} Rlsk Management I'hc TTuslec5 have considered any risks to which the T51 might be exposed and are 3oLisfied that (he dminisirfttive. inv¢siment and financial procedures which are in place, minimise th¢ risk of any loss to Ihe Tru5i. The p03ition is reviewed r¢gulgrly by the Trustees.
Sir John Pnestman Charity Trust Trustees, report lor the year ended 31 D8¢•rnb8r 2024 Grant-making Policyy Aims And Objectlves The obj¢¢is of the Trust ar¢ furth¥red by the making of grants from the in¢ome of the Trust. The principal objects ofthe Tru5L save those relating to Church all require benefits io be provided for persons residin8 in Sundrrland or Counly Durharn. In ihe case of thurches the 8eo8raphical area is exiended t(1 include Ihe County of York. The I'rust is unable to provide bencfits direaly and Ihereforc aims to achieve lis objects by rnaking grun¢s to other United KillgdoTll Regisiered ch4ritie5 providin8 benefi w pcrsons in these areas. I'his is the method adopted by former trusttts for many year%. as a m¢ans of 'thppin¥ into. fields of Charilablc expcrt15t 5ervin8 the general publi¢ in the nominated areas. It cnsurcs a wide area olbenetii and has been mom suc¢e&%ful over theyears. Only in special c&5es are grdnts made ouL8ide these geo&TTaphiLdl lir io individuals. 13) The TTUStee5 SUPPUrt a number of chariiies by wdy of regulor Annual 8rants, bui otherwise the I'ru%tees aim where rossible to award grants for specific projecls. In this way the Tw81ees aim ¢0 a55iSt ch2ritie5 to e¢hi¢vc particularobjeciives such as acquiring or replacing essential equipment or exiendin8 the scope of the benefits which Ih¢y provide. How¢v¢r grants towards 8¢neral eosis ar¢ ¢onSider whcre c5scnlial to ihe benefits bein8 provided. In makin8 grants Ihe 'frustee5 are particularly conecrncd to e5tabli5h thal projec15 are viable. Accordingly 8ranis m&y be awarded subject such condilions tts fundin8 or otherwise as the TN5tees consider appr()priate and payment is d¢f¢rred unlil the wndilion5 arc sa115fied. If these cannot be fulfillcd ihe grant LS cancelled. 121 (41 Thc 8r&nts awarded iu ¢hur¢h¢s &re for buildsn8, rtslorin8 ulicrin8 cnlar8ing, mainthifting and fumi5hin8 (including pruvision of or8ansl for the benefii ofmcmbers i)fihe Church ofLngland. The Trus$ recognisc the ch&llcn8eg faced by parish¢5, Otien in deprived areas, in maintrdinin8 hi8tori¢ church buildings whiLh ofien fulfil a vitDI role in lh¢ widcr communily. Where neees5ary. Ihe Truste¢s 8eek information from the dioccse in relation to such applicaLion5. 'I'he Trusi¢¢s wlicy is generally 10 award modesl gTant% to a relatTvely large number ofbodies rhther th*rt a fLw laT8e granis. The Lhariiies supported eover a wide ran8e of aeiivilies. In this way the Tru5tces aim LO pruvidc for a wide varidy of nccds of pcr50ll5 Te5ident in Ihc gcv8rMphi¢AI area of the Trust. 151 161 There is no lixcd aPFX>rtionmenl ol'grants bdween ihe various I'ru81 Trbjects., each application is deali with its meriis. If a grant is for a specific projeLt, th¢ rccipieni i3 asked to confirni when Ihe proje¢t ts compleied. Review of Activiti¢s and Performance 'rhe grants made during the year are listed by objc¢t ¢ut¢gory in No¢e 2 rhe fin8n¢ial stht¢m¢ni5. 6rants Paid to ¥huh¢S pur5uanl tu object 218111) loiallLJ £115,000 and assisted 28 churLhc¥ to mainiain or improve their buildings or organ5. In tolal the Tnjsi supported 130 ¢hariiies wilh gronts iotalling £406,825. The suppurt of the 'l'ru51 as5151ed many charitie$ whos¢ fundraising had been adv¢rs¢ly al'f¢cled by the Covid-19 pdeMiC And thosc facing increased demand for thcir 5¢rvic¢s duc io the cost of living crisis. Gran¢$ lotalling £5,500 awardLxI 10 three charities were alsu can¢cll¢d in th¢ ye&r. Annual repo8 and accounls are tsbtaincd fwrn charitie5 5upporlttd annu?Ily w ensure such grants reMn dPPTopfidle. The position 15 reviewed by thc Trustees on a reBu14r basis. The remainder of the gran lisi¢d oth¢r than the re&>uldr anftu&l 8Tants referred io in paTa8raph 5131 were awarded at Tru5tccs' quarterly medings during thc year in resEx>nse to numerous applications r¢ceived by Ihe'frusL
Sir John Priestman Charity Trust Trustees, report for thg y•ar ended 31 Dpcefftber 2024 Public Benefit The Trustees have had re8ard the guidance ¢tsrttained in the Charity Commissioner's Gencral Guidance on public benefit when reviewing IhciT ai]ns and obj¢Ltives. They cortsidet thai the broad range ofchoriti¢s and number of Churches assisted demonstrates a wid¢ public bcnefil throughout the Trust's geographical area and thal the Tru51 SRtisfie5 the CoTnmission's r¢guirerntnts on public benefit. Reports reccived from Churches and charitieson the ¢omple¢ion of theirgrani-aided PTojeclb iJdi¢ai¢ Ihal IheTrust'5 achievements in relation to thisobjcclivc continue to be of significant nefit to the communities Serv by the5c church¢s and charities. Financial review I I l Thc value of the Trusi's InvesentS h25 increased by £545,905 over ihe previous year and iotal funds have incTc4sed by £470,682. The incre45e in the value of invcstments is due purely to m•rk factors and could fluctuate boih upward5 and downwards in ihc coming y¢ar. 12) The invcsim¢Jt income of ihe'l rust decreased during the year by £50.462. Grant¥ paid or pay4ble de¢red by £112,740 Compored with Lhe previous yethr. 'The overoll inwrne fund re5crYes of the Trusi have de¢regs¢d by £48.453 at 31 December 2024. InvEStment pollcy and p¢rformAn¢t The Trust is an endowed chariiy wilh pernianeni endowrnent only and is dependeni solely on incorne from Sts inve5tmenls to fulfil its objects. The'frus¢¢es invesimenl objectivc is therefore lo maintain and enhiince Ihe value of ihe fixed assets ovcr thc long term in order tv maintAin and if p055iblc increase the tneorne vailoble for the purpose5 of the Trust. This ptslicy had, over 8 number of ycars, led to an increase in the TrusL'5 inve51m¢nt inLorne. InVe$imcn. and projected incume are reviewrd quarterly Rnd perfoman¢e cornpared with appropriate indi¢¢s. fAkin¥ into account the overall economic and financial wsition investment perfom)ance in relaiion ¢0 both Lapilal and income ha5 been satisfactory. The Truliees con.iider Ihat the stdndard btt¥is ot. invesimeni with capital guin5 accruing to the pemanenl endowment ¢ontinu¢¥ be5l Serve the Trust. Capital 8ruwth had proiecied and would conLinue to protect ihe income to able the Tru to fulfil ils objects in the future. R•serves polley Re¥erves represent the balance of unrestricted incomc funds whleh as #t 31 December 2024 wa$ £275.872. It 25 the poliLy of the Trustees to relain su1¢Cl in¢(kme in reserv¢, subject to fluctuation in the valuc of the Accumulated Ineome Invc5tmcnts 10 en.%ure thai in the even¢ of a significant reduction in inci>me the Trusltts could at least rnoiniain ihe regul&r grant¥ 10 thuse charities which have come to rcly on them, th¢ Trust having no cxpendable enduwmeni. In revi¢wing the Icvcl of re5ervrs the Tru5tee5 consider that reserves ofapproximotely 9-12 mon¢hs expendilure are appropriatL'. The Trustees will cunlinue to review lh¢ Icvcl of reKrve5 on a quartcrly basi8 to ¢nsttre thal adequale and appropriaie res¢r¥es maintained. Future Plans The Trusiees plan 10 ¢oniinu¢th¢ p(>licy of mainLainin8 and enhancing the value of Ihecapital in the mediurn to long lem in order io proiecl the future income available to fulfil the obje¢is of (he Tru5l. The bul8nc¢ baween ¢urr¢ni and fuillre incnme will however continue to be monitored closely to enable ihe Trlls¢ to Maintain or increase its curr¢nt 5UPPQrt to churches and charities. Investment MgnAgement The heading of Investment Management Costs in thc Statcmeni of Financial ActivitiL% reflects RBC Brewin Dolphin'5 charges on a m8nagemeni fee basis.
Sir John Priestman Charity Twst Trustees, report for tho year ended 31 December 2024 9. Statement of Trustee5' Responslbllltles The Trusiees are responbible for preparing the TTUStccs' Reptsrt and the financial stMentS in K¢ordance with applicabl¢ law and United Kingdom ALcounling Standards (United King(lom Generally Accepted Accounting Praclicel. Th¢ law applicable lo charilics in England & Wales requlres the trustees to prepare financial 8iaiemenis for each financial year which give a irue And fair view of ihe ofAffairs ofthe charily and of ¢he incomin8 resources and applicalion of resources of the charity for thai period. lrt preparing these financiAI statement% thc trustees are required io.. Sele¢¢ 5ui¢able aOntIng policies and then apply consistently.. Observc th¢ m¢thods And principles in ihe Charities SORP. Make jud8ements And estimates that art reasonoble and prudcnt: State whether appli¢able acwuniin8 siandards have bcen followed. subject to any material d¢panur¢s disclosed and explained in the financial ststemcnts: and Preparc ihe financial siat¢ments on th¢ going ¢onc¢rn b93is unless li is inoppropriai¢ io PTesum¢ that lh¢ charily will continuc in business. The uijstees are responsible lor keeping proper accountin8 records IhaL disc105e wilh reasonable 2ccurllcy at any time ihe finanLi41 PQSilion of the charity and enable them to ensure that the financial 51utcrnents comply with the Charities Ati 201 I, the Charity {AccouniS And Report51 Regulations 2008 and the provisions of (he trust dccd. I'hey are glso r¢sponsible for safeguardTng ihe asset$ ofthe charity and hence for t&king rcasonable steps for thc pr¢vention and detection of fraud And othcr irre8ulariti¢3. In so far 45 ihe Board ofTru5tCCS Is &ware: Thcre is no rclcvBnt audii informalion of which thc ¢hati(y's Audiiors are un&ware; and The Board of Tru5tee8 has tsken all ihe steps that it OU8h( to hove k¢n to make iiself aware of any ttlrvant audit information and to esiablish Ihal ihL #uditors llre aware of ihat informaiion. On behalf ofihe tNstee Ll ts£¢Jrb, T R P S Norton- Tru51e¢ T W Grecnwell- Trusttt T,w,G
Independent auditors, report to the Trustses of Sir John Prle8tman Charity Tru•t Opinion Wc have audiied the fLnan¢io1 stAtcments of thc Slr John Priestman Charity TTUSL for the year ended 31 tkccrnber 2024 which wmpris¢ th¢ staiement of financial activities, the balance sheel, the staterncnt of sh flows and nOS to th¢ financial sLatements, ineludiDg a summdry of 518nifi¢ant ac¢ounLin8 policies. The fin2ncial reportin8 framework that has been applied in their preparlon is appliGqble law and Uniied Kingdom Accounlin8 Standards, including Financidl Reporting Stsndard 102. The Financial RertIng St4ndard applicable in the United Kingdom and Republic of Ireland (United Kingdom Generally At¢tpied Pracri¢el. In our opinion ¢he financial s¢at¢m¢nts'. give & Irue and fAir view of the s(uLe of Lhc Charity'5 affairs as 8¢ 31 December 2024 and of ils incoming resouwes and application of re50urccs for ihe ycar then endcd.. have been properly prepad in aceordance with Urtld Kin8dom G¢n¢rally Accepted Accouniin8 Practi¢¢: and have been prepared in a¢¢ordanee wilh the rcquircments of the Charities Act 2011. B8s18 for oplnloTr We cundueted our audii in Accordance with Internotional StJndArds on Auditing IUKI (ISAS UK) and applicable law. Our responsibiliiies under thu5e standard5 arc further described in the Auditor's 'spunsibiliiies for the audil of Ihe financial 5tatcments $CGtion of our repirt. We are independent of the Charlty in accordance with the ethical requiremenis ihai are relevant to our audiiof the finon¢ial statements in thc UK, including the FRC'S Èthical Sthndard, and we have fulfilled our othcr dhiial r¢sp)nsibilitie5 in ac¢ordonce wilh ihc81 reqyirement5. We believe that thc audhl evidenc¢ we ha¥¢ obtaincd is sufficient and )ppropri8Le io provide a basis for our opinion. ConelusloDS relatlng to golng toncern In audiiing th¢ Iin8n¢ial $iai¢mcnts, we have nCluded that the True¢S, use of Ihe 80ing ¢on¢ern basis or a¢tountin8 in ihe preparation of the financial 51atcmcnls is appropri&te. B&sed on the work wc havc pcrformcd. we have noi ldeniiri any m8¢erial uncertaintlcs relating LU events orcondition5 that, individually orvolleciivelyb may cAs¢ signifi¢Ant doubton the Charity's ability lo wnlinue a5 a goinB concern for a period of at least twclvr months fn)m when the financial staleMen are auihori5ed for issue. Our responsibilitie5 and the re5wnsibiliti¢$ ofthe'l'rustee5 Wlth respect to 80ing concern are de5CTibEd in the relcvant 5eaions of thi5 rctx)rt. Other InformxtloTh The other informaiion compri5CS th¢ infomiation included in Ihc TNstees' repori other than the fin#nciHI StaTen[S ond our &uditor's report ihereon. The Tru.8iees are responsiblc for the oihcr information. Our opinion i)n the finAncial staiemenls does not ¢over the other information and w¢ do not exprc5s any form of assurance conclusion ihereon. In connection wilh our audii of the financial 5taiemenL%. our responsibility is tu &d th¢ oih¥r information and, in doing so. consider whether th¢ uther infomaiion is materially inconsistent wtth the financial S1741ernents ur our knowledge obtained in the Judit or tsiherwise appear5 to be Tnaterially misstated. If wc identify such rnaterial incon515tencie5 or apparenl mAieri&l misstalemen15. wc are required to determine whether thcrc is a material misstatement in the finoncial suiements or a material missiatement of ihe other infomi£ttion. Ir, based vn ihe wurk we have perform¢d. we conclude that there is a material rni55tatem¢nt of this orher informaiion, we ar¢ required to report thai fact. We have nothing rew>rt in Ihis regard.
Independent auditors. report to tho Trustees of Sir John Prle$tman Charity Tnmt Iconlinuedl Matter5 on which we #re required to report by exteptlon We havc nothin8 to report in respect of the followin8 matters in relation io which Ihe Charities (Aceounts and Reportsl Regulatiorts 2008 require us to report to you if, in our opinigll.. rh¢ infomiation given in (he Truslees, report ij in¢on513t¢nt in any material respec¢ with thc financial statements: or sufficieni accounting re¢ord8 hav¢ not been kep4 or the linan¢i415tat¢m¢nts are noi in agreement with the llccountin8 records. or w¢ have noi re¢¢iv¢d all the inforniaiion and ¢xplanaiions we require for our wdit. Responslbllltles ofTrusttts A5 explained rnoir fully in thc Trustees, responsibiliiics SLqtcmcnt sei out on pa&¥ 6, the TNstees are re5pon5ible for the preparalton of the financial 5t&tement5 2nd for bein8 Satisfied that they give a itwe 4nd fair vicw, and lor such inlernal conlrol as the Trustee5 deterrnine is necessary to enable the preparation of rinancial statements ihat are fTCC from material mi5Staterntnl, whcthcr due (o fraud or error. In ryepirirtg Ihe firtan¢i&l sttttemerbts. Ihc Trustccs arc responsiblc lor assessing the Chariiy's Ability to continue a5 a 80in8 con¢crn. di5¢10sing, &% applicable. m8¢i¢rs relaied 10 Boin8 ¢on¢cm gnd u5in8 the 80in8 nccrn b&415 of accounLin8 unless ihe Tw81 eiiher innd io liquid4t¢ the Ch8fiLy or ¢0 (jperations. OT havc nu rcali5tic alternalive kn do so. Audltor'i rtspon$lbllltle$ for the xudlt of the finantlAI Jlatements We hav¢ been app)inied as auditor undcr section 144 of thc Chllrities Act 2011 and repon in a¢cord8nce wilh the Act and relevant regulotions made or havin8 efrect thereunder. Our objeciive5 arc to ¢Jbiain reasonoble assurunce about whether the finAnci&l slaiemen15 as V4 whole gre free from rnaierial missleMent. wheih¢r due (o fruud or error, #nd io issue an audiioi s report thai inLlude5 our opinion. Reasonable as5ufdnce is a hi8h l¢v¢l of 8syuran¢¢, bui 15 not a 8uaranlee that an audii conduLtcd in accordance with ISAS IUKI will alway3 dctect a material mi5St2temcnt when it exists. Mi551Atement$ con arise from fraud or crror and are con%idcred material if, individually or in the &88re8ate. they could reasonably be expected influcncc the economic decisions of u5eT5 takcn on thc basis vf these financial staiements. ITTe8ulaTlllCS, including fraud, are instances of non.cornpliancc with laws and Tegulaiions. Wc design procedures in line with uur respon5ibilitie5. Outlined above, to detecl maierial misstatements in respe¢l of jrre8ularilies, including fraud. The extrnt io which our prottdures are capable of d¢te¢iin8 irregularitie5, includin8 fraud is delailed t1W.. Ba5¢d on our under51andin8 Ot the Charity. discussions with Tru5teLS who arc thosc charged with 80vemance, we considered that the rn05l Sl8nif1¢8nt laws &nd regulations that have a direct impact on the tlnancial staments arc FRS 102. the Chariiies SORP IFRS 1021, Ihe Charitie5 Act 2011 and UK t&xatio legislation. A% parL ol-lhe engagemeni ieAm di5CU5sion about the susccptibility ol-the Charlty's financial Staments io material misstaternenl dug to fraud. we did not tdentify any areas with an increased risk.
Armstrong Watson Audit Limited Armstrong Watson Audit Limited (Aug 15, 2025 09:33:05 GMT+1)
15/08/2025
Sir John Priestman Charity Trust Statement of financial activities for th• yèar end•d 31 Dec&mb•r 2024 ReslaÉeAI Incoffte Re51llÈed Caplthl Accomnt Noles 2024 21123 IIVCOME FROM.. Income from UK investmenL8 Income from foreign invesimenis Weatherbys bk interest 304.893 185.921 304,893 185,921 348.374 191.895 1,007 TotAI income 490,814 490,814 541.276 EXPEIVDITURS ON,. Ruisingfund.- Inv¢s¢meni mana8em¢ni cosis Chariiable aciiviiies- Grants pay8ble in furthenjncc ofLhariiy's objeciives Suppon ¢osts of¢harlb]e activities 47.029 47.029 45,456 466,825 52.709 466,825 52.709 579,565 51,222 Total ¢xp¢ndl¢ur¢ 366.J63 566,563 676,243 Net lexpendlture) I In¢ome 175.7491 175,7491 1134,9671 Net gin$ I (lo) on Investmenti- Rcaliscd 8ain5 1 Ilossesl on sale or riAed asset investmenls Unrealised gllins / Ilossesl on fixed asset Investmtnis 301 452,242 452,543 11,282 82,6(6 93,888 599,097 TrADsftr between fvnds 15,713 (15.7131 Net movement In funds In year {48,453} 519.135 470.682 432,812 Total fund8 brou8hi forward 324.325 15.339,293 15.063.618 15230,806 TotAI fund# TrIed forward 275,872 15,858,428 16,134,300 15,663,618 All Klivities are continuing. 10
Sir John Priestman Charity Trust Balance sheet at 31 December 2024 Resfrtled 2023 2024 Notes FLYedos$És Investments 5 16,058,838 15.312,933 Short tcmi deposits Cash ai bank 40,204 66,761 58.339 119.494 106.965 121.503) 177,833 {17.1481 Cr¢ittrs.' grnounts fallin8 du¢ within one year cmrrenr t7JJely 85,462 160,685 GrrtNts C1¢10#1YyQble I10,0} (10.IKK)I 16,l34,31I) 15.663,618 Capitol fund8 8 15,8J8,428 15.339,293 Income fijnds Unre8tricted 275.872 324,325 I6,134,3( 15.663,618 Approved by ihe Board of Trusiees on signgj on its behalf by.. 4T R P S Norton- Trustee 11
Sir John Priestman Charity Trust statement of cash flows at 31 Decomber 2024 2024 2023 Noles Cwh flowj frorn optrAtlng o¢tivltl¢J Nel cash Ased in oper4ilng &eilvllles 10 {5622081 1654,7291 Csh llowi from investini artiviti¢g: Dividends and interest from investmenL4 Proceeds from sale of investmcnts Purchase of investments 490.814 541,276 633.889 201.252 (479,341) 1365,2821 ca5hprovldedby opemllftg tzdlvldes 645.362 377,246 Change In cash And casb equlvaltnts In the reportlDg perlod 83.154 1277,483) C8Jh and t8Ah ¢qulwal¢nt$ a¢ the b¢glnThln¥ Of the reportlDI perlod 264,059 541,542 Cajh and ¢8sh equlvaknts at the end of the reportlng rIOd 347,213 264.059 Aoalyili tsf t$h Ind ¢*$h ¢4ylvAl¢nti Cash ai bank Short term deposils Long tem dcp05its 66,761 40,204 240248 119.494 58,339 86.226 Total tash and eajh equlvaltnts 347,213 264.059 12
Sir John Priestman Charity Trust Notes to the financlal statements at 31 December 2024 Accounting policies B4Jis olpreprfraiioii The financial statements have been prepared under the historical cost ¢onv¢ntion with items r¢cognised tt cost unless otherwise stated. The financial sratement5 have been prepar¢d in accordance with the Charities SORP {FRS 1021 Accountin8 and Reporting by Charitie5.' SiatetnenL of RtLommcnded Practi¢¢ 4pplicable to charitie5 preparin8 their account5 in accordance wilh thc Financial Reporting Sthndard applicable in the UK 8nd Republic of Ireland {cffcctivc l January 20191 and the finan¢i81 Reporting Standard applicable in ihe United Kingdom and Republic of Ircland IFRS 1021 and the Charities Act 2011. The Trust eonstitules a public bcnefit entity ss defined by FRS 102. Golnicowcern Thc accounts have been prepared on V4 g(ping concem basis a5 ihere are no material uncertalnties about the charity's ibility to Continue. Pr#01{n curreney Th¢ finan¢ial 3tat¢m¢nt5 are preparcd in Sterlin8> whieh is the funciional ¢enCY of the'l'rusi. Fuffd$slmdur* Unrcstricled income fundj comprise tho% fund5 which the'frustCC5 arc freeto use for any PUTtx)se in furthcranee ofthe chariLqble object5. The Trust h&5 8 pernian¢nt endowrn¢nt. Invcslmen¢s are a forni of baslc flnan¢io1 insirument and arr initially recognlsed ai their wjt and subsequcntly measured at fair value a4 at the balance 5heeL dale 8cllLYolly using the middle msrket price. Proceeds from sale of right5 Issues are crediied agAin%t the relevant proportion of¢h¢ ¢OSLof invesiment. Thc Stsiem¢nt ofFinancial Activities includes the unrealised gains And losscs Arisin8 on revaluation of investments held at the year end and thc rralTscd gains and108ses on dispos&l$ ihrou8hout Lhe year. Cosh Cash at bank and cash in hand includes cash 5hofl terni highly liquid invesiment5 with a short malurity or threc month5 or less from thc datc of acquisitithn or opening of'the dwsit or 5iThilar aecounl. Creditor8 artd provisions arc re¢Dgnis¢d where the charity ha5 a present obligation resulting from a past event that will Probably r¢sult in the iransfer or funds to a third party ttnd the amount due io %ettle ihL obligaiion can bc mcasured or esiimaled reliably. Creditors ond provisions are nornially recogni5ed 01 their 5eltlemcnt hmou after allowin8 for any trad¢ di5¢0un15 duc. The trust only has flnancial &ssets and financial IiY4biliiies ora kind qualify as basic financial instrumen15. Basic fin¥ncial instrument5 arc inilially reco8n15 ai tr4n$a¢iion value and suteqUentIY measured at their 5Ctilemcnt walue loiher ihan invcstmcnts a5 noled above). Incomt All incomc is TLcognised once thc charity has enlitlaNenl li) the income, it is probable that the income will be received and the amount of income receivable can be mcasured reliably. InveMm¢ni income 15 a¢¢ounied f¢Jr when re¢eivable. Income from bank deposits is xwunted for on a T¢ceivcd basis. 13
Sir John Priestman Charity Trust Notes to the financial ststements at 31 December 2024 Liabilities arc r¢¢o8nis¢d 89 expenditure 500n &s there is 8 leg81 or constyu¢iive obligation committing the charity to the expenditure. it 15 probable that setilemenl will be reqtsired and the amount of the obligation ¢an be rneasured reliably. All expenditure 15 accounted for on an accruals basis and has been classified under headings that A8gre8ate a51 c0515 related io the category. Granis payable are.. A8Teed grants paid durin8 theyear Agreed grants which have not bcen paid bul which arc payable on the satisfaction of a condition on the part ot the 8rantee which ha5 not yet becn 5at15fied. Grants 2024 Sunderland Community Soup Kitchen 3.noo 3.OnO 2024 Alice House Hospice M&rie Curie Cancer C&r¢ Tee55ide Hospice St Bcncdict's Hospi¢¢ 7,500 3,000 s,000 2024 Age UK Sund¢rland B4rnar&)$ North E( 4,500 2.500 2,000 5.000 2,0(K) 2,000 2,000 2,500 2,500 2,000 2,500 2.01)0 3 Jl)O 500 Blesma Blind Vcternns UK Calvert Kielder Cauldwvll Childrcn Causeway Child Brdin Injury Tnjst Churc'h Amiy CICRA Ciiy of Sundcrland YMCA Clergy Supwrt Trust Community Foundation for the High Sheriffs Fund Tyne & Wear Contact Coram Beanstalk 5,000 14
Sir John Priestman Charity Trust Notes to the financial statements at 31 Dgc•mber 2024 Crackerjack Children's Trust Dealilld UK 930 2.000 3.(K)O 2.(KJO 8,000 7.500 4.1100 4,700 3,000 1,500 2,000 2,000 8,51NJ 3,000 2,000 3,000 Depaul Dream Holidays DurhaTn Associa(ion of Boys and Gir15 Clubs Durham Cathedral Schoo15 Foundation DuTham ChTiStian Partnership Durham High School Durharn Scout County Council Duttham Wildlife Trust Family Holiday Charity FRrriTh8don Detached Youth and Community Club George Hudson'$ Charity Girls Friendly Society in England And W4le5 Happy Days Children's Charlty Hearin8 Dogs for tk•f People Heal & Toe Children's Charity Hou8hton Boxing Club Ind¢pendent A8e Jane Gibson Almshoujes 4,000 1.000 7,000 3.500 1,500 5,000 2.000 3.0(JO 5.000 3.325 5.000 2,000 2,000 5,000 2,500 3,000 2.500 5,000 3,500 3,500 3.500 3.000 6.OOU Lambion Slreth Youth Ccntre Living Painlin85 MA¢Millan Con¢er Suppon MA£ul#r Society Marine Soeiety and Sea Cadet5 Minerva Atts & Wellbeing Charity Mobilily Trust Moior Neurone Disease Associaiion NE Youth Newcastle Deftfcentre Newlife North East DibIlitieS Resource Centre North East Dernentia Care Isunderlandl North of En8land District Boys Bri8ade Northern Countie5 Children'5 Brnevolent Society NSPCC Bishop Aurkland NSPCC Sunderland PDSA Sunderland Pelton Youth Project Pennywell Neigh)urhoOd Centre 15
Sir John Priestman Charity Trust Notes to the financial ststements at 31 D•comber 2024 Place2Be 5.000 3.000 5.000 5.000 2,500 3,500 3,500 3.000 3.000 3.000 2.000 3,500 4.000 3,5( 2,500 4.000 5,0110 3,000 6,000 3,000 3,000 2,000 3,500 5,000 2,000 3,000 4.000 8,SOO 2.500 5,000 2,500 2,OQ(J 3,0(K) 5.0(X) 5,000 1,000 3,000 317475 Police Ctsmmunity Clubs of Great Britai Princes Trust Queen Street Hcrita8e Trust Rcact Royal Airforce Benevolent Fund Royal Briiish Le8ion Poppy Day Appegl Royal National Lifeboat Insiitulion Sunderland Salvation Arn)y - Sunderland Samaritsns of Sunderlpmd Sandcastle Trust Soundwaves Sprin8well Community Venue SSAfA Tyne and W¢ar Sl John'3 Ambulance SunderlRnd Comrnunily Soup Kitchen Sunderlllnd Guild of Help Sund¢r14nd North Division Girl Guid¢J A5S0Clation Sunderland North FAmily Zorte Sundcrland SLuul Council Sunder1$d Souih Division Girl Guides Association The British Polio Fellowship Sunderland The Camphill Villa8e Trusi. BottoTh The Cirdan Sailin8 Trust The Fishermett'5 Mi55ion The Guidc Asso¢iation Durham The Kepler Trust The Sund¢rl8nd 0hanage and Eduutional Foundatioti Triangular CIO Turn2U5 Vision Learnin8 Trust Walking wi¢h the Woundtd W&%hington Riding Cenire Wear Valley Women's Aid Whiu-Kidz Willow Woodsmoke Group 18
Sir John Priestman Charity Trust Notes to the financial statements at 31 Oecgmber 2024 Grats approved n¢t1]ed irt the year Blesma 12,000) 12.5001 1.000 Northcrn Counties Children's Benevolent Soci¢ty Friends of Barbara Prie5tman Academy 5.500 311975 Section 2 ain ancc ot-c 2024 BAldersby Sl James PCC Brotton Pdrv¢hi&l Church C()uncil 2,000 5,000 5,OQO 5,000 5.000 4,500 2,000 1,500 4,000 10,000 2.000 5,000 2,000 1,500 3.000 5,000 1.500 5,000 5.(H)(I 3.000 5,000 5.(K)O I,oou 10,000 2.000 4,000 3,000 ChurLheo Con¥ervation EfflbY Parish PCC D.C.C. uf Si. Andrew's Church Roker Friends of Durham Co¢hedral Gr¢enside PCC Hillside Chureh Kirby Ravenswotth PCC L¢adg*t¢ PCC Middleton in Iy8s Parish Church Commit¢ Minskip Church Council Mu881¢swi¢k PCC Parish of Ben8ham artd Tearns Parochial Chorch Council Parish Langton on Swale PCC of Jgrrow PCC of Si Luihbcrt with St Aidan PCC of St Helen's St Aidan's PCC Si Gabriel's Church Si Lawrence PCC St Lawrence the Martyr St Mark's Marske PCC St Mary's Church Si Michael & All Angels PCC The Parish of High Spen and Rowlands Gill 1.he PCC of ChTl51 Church High Harrogaie Wistow All Saints Heritage Appeal 115.000 17
Sir John Priestman Charity Trust Notes to the financial statements tt 31 December 2024 2024 Bishop ofDLtrham'$ Dis¢retionary Account Church of En8l&nd Pension5 Board Durham Dtoce¥an Board of Finance 3.050 3.000 8.300 Totsl grants ld / condiiionally payable 4662$ Prlor Year AdJuytmen¢ An adjustsllcnt h&5 been made to the prior period figure5 lo ¢orr¢¢t th¢ cla$5ifIcation between the income fund And the c8Pito1 a¢¢tsun¢.'fhe capital account was understatcd by £20.196 and has irtcreased from £15,319,097 to £15.339,293 and the income fund has de¢reased by Ihe same amouni from £344,521 to £324 J25 at 31 December 2023. The is no imwi on the toial funds. 4. Support Cogts of chArlt#ble actlvltles 2(124 2023 Legal and PTofe55ional fee5 Audit fee5 Ifor audiL service¥l Bank charge5 46,785 5,3¥4 540 46.110 4.752 360 52,709 51,222 18
Sir John Priestrnan Charity Trust Notes to the financial statements at 31 December 2024 Investments 2024 2f123 Quoted investments Cash equivalents on deFOSit 15.818.590 15.426,707 240,248 86,226 16,058.838 15,512,933 2024 2023 Market value at l January 2024 Le55 di¥p05al¥ Add acquisltion5 at cost Net unrealised gain5 un r¢valu8tion 15,426,707 14,694,898 {181.3461 1232.5701 479.341 365,282 93,888 599,097 M&rk¢t vulue at 31 De¢ember 2024 15,818.590 15,426,707 Ilistorical 9131 D¢¢ernber 2024 6,822,740 6,387,91¥ All inves¢ments are carried at their fair value. Inve5Lments in equilies and fixed Inr¢s[ seLurities arc 811 iradcd irt quoted publie m&rkets. The basis offair VAlue for quoted investmenis 15 equivaleni to the markei pri¢¢ usin8 th¢ middle market price. Credltorj 2024 2023 Governance costs a¢cNAI Grtsnts Pdyable 21.503 15,948 1.200 21,503 17,148 Grg4nts conditionally p8y&ble 2024 2033 Balance at l January 2024 Grants approved but not paid durin8 the year Grants approved in a prior year and paid during ihe year 10.000 10,000 110.000) 10,000 Balancc at 31 December 2024 10,000 io.000
Sir John Priestman Charity Trust Notes to the financial ststements at 31Decemr 2024 & A TrAly$is of net assets between tsnds Ineon fund fund Tol41 Fund balance5 at 31 December 2024 8r¢ r¢pr¢sent¢d by.. Fixed &85et investments Cash at bank and short temi dew>siL8 Creditors Def¢rred grants 15,858,428 200,410 16,058.838 106.965 106,965 121,5031 {21.503) 110,(K)01 {10,000) Total net ttssets 15,858,428 275.872 16,134.300 Analysls Kei&s$ets behveenfynds-previ045yeAr Re5tt71ed C4pllol Reslaled IKCO fvmd Tolal Fund balances at 31 December 2023 gre repTC5cnted by.. Fixed assei inve51menis Cash at bank and short tern dcp051t5 Creditors Deterwd 8ranis ISJ39293 173,640 15,512,933 177.833 177,833 117,1481 117.1481 I10,(K)01 Iio,o(x)I rotal net asse 15,339,293 324,325 IS.663,618 Related p*rty transActlons During ihe yeAr cndcd 31 December 2024 8rHnts payable of £8,500 12023-. £8500} were mpde to GeorBe Hud50n's Charity, 11 Lharity in which PW Taylor acL5 as TrLJslee. The Trustee3 are au(horised to undertake these transa¢tion3 under ¢lau% 9 of th¢ 1931 Seltlemenl. During theyr ended 3 l December 2024, th¢Truste¢s were not reimbursed for outof pocket expenses tncurred 12023= £Nill. The Trust considers its key m8na8ement p¢r3¢)nn¢l to be the'frustees. The Trusiees. did not receive any ernoluments durin8 the year. 20
Sir John Priestman Charity Trust Notes to the financial statements at 31 D•combor 2024 10. Reconciliation ofnet (expenditureyincome to Det cash now from operatlng aetivities 2024 2023 Net 1come for the reportlng perlod 470,682 432.812 Adjustmtnts for. (Gains) l Lo$8es on investments Dividends and in(er¢st frL)m investments Decrease / (Increase) in debtor5 Increase I (Decrcasel in CTedilor5 (546.4311 1367,779) (490,8141 1541,276) 134 21,380 4,355 cash ustd Ill op¢ratlng aetlvltl (562,2081 1654,7291 I l. Tr*nsfer During Ihe year there w8s a transfer of £15,713 from the Capital accouni to the Inm¢ fund. The transfer was lawfully rcleis¢d io reimburse thc Income fund for the valuc of income which hod accrued in the Capithl aOunt by way ofibsue of 5haT¢&. 21