# **The Non Ecclesiastical Charity of William Moulton Registered Charity No: 216255**
**Financial Statements for the year ended 31 December 2021**
The Non Ecclesiastical Charity of William Moulton
## **Contents**
**Item Page No.** Legal and Administrative Information 3 Trustees Annual Report 4-6 Independent Examiners Report 7 Statement of Financial Activities 8 Balance Sheet 9 Notes to the Financial Statements 10-13
Charity No 216255
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The Non Ecclesiastical Charity of William Moulton
## **Legal and Administrative Information**
**Name:**
The Non Ecclesiastical Charity of William Moulton
**Charity No:** 216255
**Principal Address/Contact:** Clerk to the Trustees Mr Roger Gray 42 Richardson Gardens Shiremoor Newcastle Upon Tyne NE27 0FH **Trustees:** Ex Officio Trustee – The Very Reverend Geoff Miller Dean of Newcastle **Nominative Trustees (Newcastle City Council):** Vacancy Councillor Hazel Stephenson Mr C W Schardt **Co-optative Trustees:** Mr A Fletcher Mr A Elliot Mrs S Pearson **Bankers:** Nat West Bank plc Northumberland Street (A) 16 Northumberland Street Newcastle upon Tyne NE1 7EL **Independent Examiner:** Kate Tully FMAAT FCIE AATQB 20 Ennerdale Crescent Winlaton Blaydon on Tyne NE21 6PS
**Independent Investment Managers:** Smith & Williamson Investment Management 25 Moorgate LONDON EC2R 6AY
Charity No 216255
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The Non Ecclesiastical Charity of William Moulton
## **Trustees Annual Report**
## **1. Structure, Governance and Management**
- The Trust known as The Non Ecclesiastical Charity of William Moulton was founded by a settlement dated 9 December 1938.
- A scheme of the Charity Commission dated 15 March 1973 consolidated the constitution.
- The body of Trustees shall consist of: One Ex-Offico Trustee
being the Vicar of the Ecclesiastical Parish of St Nicholas, Newcastle upon Tyne.
Three Nominative Trustees appointed by the Council of the City of Newcastle upon Tyne.
Three Co-optative Trustees being persons who through residence, occupation or employment, or otherwise have special knowledge of the City of Newcastle upon Tyne. They are appointed for a term of five years by a resolution of the Trustees passed at a special meeting.
The initial induction of the Trustees is undertaken by the Chair of the Trust who outlines the work of the Charity and the role of the Trustees.
At their first meeting new Trustees are introduced and receive general guidance from other Trustees. For an initial period a mentor is appointed from among existing Trustees to offer further guidance. New Trustees also receive from the Clerk a personal file containing the following:
1. “Guidance Notes for the management of the William Moulton Charity”.
2. A copy of a report setting out the Charity’s current position in relation to “Risk Management”.
3. A copy of the Charity’s “Scheme” as issued by the Charity Commission on 15 March 1973.
4. A copy of a report outlining the duties and responsibilities of the Clerk to the Trustees.
5. A copy of the Charity Commission’s “The Essential Trustee: What they need to know”.
Because of the nature of the work of the Charity no specific training is given to the Trustees. Through their attendance at structured monthly meetings Trustees quickly become conversant with their role in assessing applications for financial assistance and overseeing the management of the Charity’s finances and investment portfolio.
- Organisational structure and how decisions are made
- Trustees meet on a regular basis (usually monthly) to consider and determine the business set out on the agenda circulated in advance by the Clerk to the Trustees. The agenda, in the main, comprises minutes of the previous meeting, a monthly financial statement and a copy of all applications for financial assistance to be dealt with at the meeting. Decisions are recorded and actioned by the Clerk.
Financial awards in the form of cheques are usually signed by the Clerk and countersigned by a Trustee.
No decisions or transactions occur outside of the formal meetings of Trustees.
- Major risks to which the charity is exposed, as identified by the Trustees, have been reviewed and systems have been established to mitigate those risks.
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The Non Ecclesiastical Charity of William Moulton
## **Objects and Activities**
- The objects of the Trust are to:
- a) Pay to the Ecclesiastical Charity of William Moulton an annual amount representing 4% of net yearly income or £25 whichever is greater
- b) Make financial awards either generally or individually to persons resident in the City of Newcastle Upon Tyne who are in conditions of need, hardship or distress in accordance with the provisions for relief in need.
-
## _Grant making policies_
- Each application for grant/financial assistance is considered by Trustees on its merits in terms of the degree of need, taking account of personal circumstances of the applicant, including the level of income over expenditure.
The basic policy/criteria applied is that the applicant must have lived within the boundaries of the City of Newcastle for at least the last 12 months. Also that applicants would only be “aided” once in any 12 month period.
- When planning our activities for the year, Trustees have considered the Charity Commission’s guidance on public benefit. In particular the Trustees adopt the following approach:
Periodic meetings with the local agency support workers to ensure that the systems and processes we have adopted work to the best benefit of the needy of Newcastle. Feedback so received is taken into account and where appropriate adjustments made.
A close working relationship has been established with the Newcastle Furniture Supplies Service to ensure that the needy of Newcastle receive the best possible household items and furniture, etc. at the most cost effective price together with a reliable delivery and installation service.
## **2 Achievements and Performance**
The restrictions that were introduced by the Government to reduce the impact of the Pandemic meant the Trustees had to meet using Zoom to enable the Charity to continue to help those in need in Newcastle. It was not until July of 2021 that the Trustees were able to meet again in person and return to their regular monthly meetings.
Improvements resulting from some of the revised arrangements for submitting applications for grants were built into the on-going day to day processes of the Charity. During the year the Trustees made 255 awards to people/organisations amounting to a total value of £48,516.
The investment income from the Portfolio dropped to £34,287 in 2021. This was an improvement on the 2020 figure which was significantly impacted on by the Pandemic however, it was still below prePandemic levels. The Trustees funded the difference by drawing funds down from reserves.
Recognising the importance of supporting the needy and vulnerable of Newcastle and the increasing number of applications for financial assistance being received the Charity has continued to maintain the level of grant awards above the generated annual income but within overall resources.
The costs associated with processing regular “draw downs” from the holding account managed by Smith and Williamson were significant. It was agreed therefore to draw down these funds and deposit them in the Charity’s Bank Account with NatWest Bank to enable easy access by the Trustees as and when required.
The portfolio’s benchmark comprises UK and Overseas Equity, Fixed Interest (Bonds), Alternative investments, Commercial Property and Cash. Income has been in line with the previous year.
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The Non Ecclesiastical Charity of William Moulton
Most of the grant application forms are now received via email.
Trustees have considered the guidance produced by the Charity Commission on the provision of public benefit and they confirm that public benefit has been provided by the range of activities as described above.
## **3 Financial Review**
- _Reserves Policy_
In line with guidance of the independent investment managers, the reserves policy is to hold the equivalent of approximately 1 year of income (at present levels) within the “Accumulation of Income” in order to sustain financial support in the event of a major reduction in investment dividends.
## • _Investment Income_
To keep the investment portfolio under regular review, particularly following receipt of the quarterly report and valuation from the independent investment managers.
The primary policy is to maintain a diverse balance between bond, equity, property and cash holdings in order to provide a level of income whilst securing capital growth.
## **Plans For Future Periods**
The Trustees expect to continue the activities of the charity in accordance with their current objectives.
## **Statement of Trustees’ Responsibilities**
The Trustees are responsible for preparing the Annual Report and financial statements in accordance with applicable Charity Law and United Kingdom Generally Accepted Accounting Practice.
Charity Law requires the Trustees to prepare financial statements for each financial year which show a true and fair view of the state of affairs of the charity and its financial activities for that period. In preparing those financial statements, the Trustees are required to:
- Select suitable accounting policies and then apply them consistently;
- Make judgements and estimates that are reasonable and prudent;
- Comply with applicable accounting standards, subject to any material departures disclosed and explained in the financial statements;
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operational existence.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Signed on behalf of the Trustees
|Name|G V Miller|Position|Chair|
|---|---|---|---|
|Signature||Date|4thOctober 2022|
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The Non Ecclesiastical Charity of William Moulton
## **Independent Examiners Report**
Report to the Trustees of the Non Ecclesiastical Charity of William Moulton on Accounts for the year ended 31 December 2021 set out on pages 8 to 11.
## **Respective responsibilities of the Charity and the Independent Examiner**
As members of the Charity you are responsible for the preparation of the financial statements; you consider that the audit requirement of Regulation 3(3) and section 144(2) of the Act do not apply and that an independent examination is needed. It is my responsibility to
- Examine the financial statements under s.145 of the 2011 Act;
- Follow the procedures laid down in the General Directions given by the Charity Commission under section 145 (5)(b) of the 2011 Act; and
- State whether particular matters have come to my attention
## **Basis of examiner’s statement**
My examination was carried out in accordance with General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with these records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the accounts.
## **Independent examiner’s statement**
In connection with my examination no matter has come to my attention:
- (1) which gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with section 130 of the 2011 Act; and
- to prepare accounts which agree with the accounting records and comply with the accounting requirements of the 2011 Act; or
-
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Kate Tully FMAAT FCIE AATQB
Date 31[st] October 2022
Signed K A Tully
## **acie**
**association of charity independent examiners**
Kate Tully is a Fellow Member of the Association of Charity Independent Examiners and a Fellow Member of the Association of Accounting Technicians
Charity No 216255
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The Non Ecclesiastical Charity of William Moulton
## **Statement of Financial Activities For the year ended 31 December 2021**
|**Note**
**Income and Endowments from:**
Donations and Legacies
Charitable Activities
Other Trading Activities
Investments
Other Income
**Total**
**Expenditure on:**
Raising Funds
Charitable Activities
Other
**Total**
**NET INCOMING/(OUTGOING)**
**RESOURCES FOR THE YEAR**
**Transfers between funds**
**Other recognised gains and losses**
Gains/(losses) on investments
Net movement in funds in year
_Total Funds brought forward at 1_
_January 2021_
**TOTAL FUNDS CARRIED FORWARD**
**AT 31 DECEMBER 2021**|**Unrestricted**
**Endowment**
**Fund**
**Fund**
**£**
**£**|**Total Funds**
**2021**
**£**|**Total Funds**|
|---|---|---|---|
||||**2020**|
||||**£**|
||48,446
3,460
3
0|48,446
3,460
0
3
0||
||||36,268|
|||||
|||||
||||6|
||||2,544|
||**51,909**
**0**|**51,909**|**38,818**|
||9,869
52,943
9,126|9,869
52,943
9,126||
|||||
||||9,577|
||||39,151|
||||1,681|
||**71,939**|**71,939**|**50,409**|
|||||
||**(20,029)**
**0**|**(20,029)**|**(860)**|
|||**0**||
|||||
||39,023
87,181|126,204|391|
||18,993
87,181
15,894
1,431,118|106,174
1,447,012|(469)|
||||1,448,635|
|||0|0|
||**34,887 **
**1,518,299**|**1,553,186**|**1,447,012**|
Charity No 216255
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The Non Ecclesiastical Charity of William Moulton
## **Balance Sheet**
## **As at 31 December 2021**
|**Investments**
**Current Assets**
Cash at bank and in hand
**Total Current Assets**
**Current Liabilities**
Creditors (amounts falling due within
one year)
**_NET CURRENT ASSETS_**
**Represented by:**
Capital Account
Income Account
**TOTAL CHARITY FUNDS**|**Unrestricted**
**Endowment**
**Funds**
**Funds**
**£**
**£**
44,648
1,473,651|**Total Funds**
**2021**
**£**
1,518,299|**Total Funds**
**2020**
**£**
1,432,096|
|---|---|---|---|
||44,648
1,473,651|**1,518,299**|1,432,096|
||34,887|34,887|15,734|
||34,887
0|**34,887**|15,734|
|||0|(818)|
||34,887
0|34,887|14,916|
||**79,535**
**1,473,651 **|**1,553,186**|**1,447,012**|
||1,518,299
34,887|1,518,299
34,887|1,431,118
15,894|
||**34,887 **
**1,518,299**|**1,553,186**|**1,447,012**|
## _**Approved by The Non Ecclesiastical Charity of William Moulton and signed on their behalf by:**_
Signature Print Name G V Miller Signature Print Name Roger Gray Date of Approval 4[th] October 2022
Charity No 216255
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The Non Ecclesiastical Charity of William Moulton
## **NOTES TO THE FINANCIAL STATEMENTS**
## **For the period 1 January to 31 December 2021**
## **Accounting Policies**
## _**Accounting Policies**_
The principle accounting policies have been adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## **a) Basis of preparation**
The financial statements have been prepared in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) – Charities SORP (FRS 102) and the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102).
## **b) Reconciliation with previous Generally Accepted Accounting Practice**
In preparing the accounts, the trustees have considered whether in applying the accounting policies required by the Charities SORP FRS 102 the restatement of comparative items was required.
At the date of transition no restatements were required.
## _**Investments**_
Investments are included in the balance sheet at market value. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposal throughout the year.
## Investment Income
Investment income from both dividends and bank interest is brought into the Statement of Financial Activities gross, on a cash received basis, and allocated to the Income Fund.
## Resources Expended
Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Investment Management Charges
These are taken against Capital Account on a quarterly basis.
This policy differs to the general recommendation of the SORP – revised 2005, which recommends that investment management charges relating to the capital account are allocated to the capital account, but the impact on the Statement of Financial Activities, is not considered to be significant.
## Realised Gains and Losses
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and opening market value (purchase date if later). Unrealised gains and losses are calculated as the difference between the market value at the year end and opening market value (or purchase date if later). Realised and unrealised gains are not separated in the Statement of Financial Activities.
Charity No 216255
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The Non Ecclesiastical Charity of William Moulton
## Cash Flow Statement
The Trustees have taken advantage of the exemption conferred by FRS1 to dispense with the requirement to prepare a cash flow statement on the grounds that the trust qualifies as a small entity.
|**2**
**Investments**
**Analysis of Investments**
**2021**
**2020**
**Fair Value at Year**
**End**
**Cost**
**Fair Value at Year**
**End**
**Cost**
**£**
**£**
**£**
**£**
Bonds
145,706
139,270
180,693
134,940
Other Currencies
29,012
28,098
27,419
28,098
Equities
1,011,276
477,852
924,486
738,179
Multi Asset
24,162
24,737
24,727
24,737
Alternative Investments
135,614
124,238
107,908
95,888
Properties
127,881
97,354
113,637
97,354
Cash
44,648
0
53,227
0
1,518,299
891,548
1,432,097
1,119,196
**Properties**
**2021**
**2020**
Method of determining fair value
Based on the latest available market prices
Based on the latest available market prices
at the valuation date
at the valuation date
**3**
**Salaries**
The charity employs 1 part time clerk and employer’s NI is included in this figure. No member of staff
receives remuneration of £60,000 or more.
**4**
**Analysis of Income and Expenditure 2021**
**Income and Endowments from:**
**Donations and Legacies**
**Income**
**Capital**
**Total**
0
0
0
0
0
**Charitable Activities**
0
Returned cheques
3,460
3,460
Other
0
0
0
3,460
0
3,460
**Investments**
Dividends
48,446
0
48,446
Bank Interest Earned
3
0
3
48,449
0
48,449
**Total**
51,909
0
51,909|||
|---|---|---|
||**2021**
**Fair Value at Year**
**End**
**Cost**
**£**
**£**
145,706
139,270
29,012
28,098
1,011,276
477,852
24,162
24,737
135,614
124,238
127,881
97,354
44,648
0|**2020**
**Fair Value at Year**
**End**
**Cost**
**£**
**£**
180,693
134,940
27,419
28,098
924,486
738,179
24,727
24,737
107,908
95,888
113,637
97,354
53,227
0|
||1,518,299
891,548|1,432,097
1,119,196|
Charity No 216255
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The Non Ecclesiastical Charity of William Moulton
## **Expenditure on:**
|
**Raising Funds**
Portfolio Management Fee
Third Party Transaction Charges
Underlying Fund Charges
**Charitable Activities**
Ex gratia payments, gifts and
donations
Grants to institutions
**Other**
Clerk's salary
Clerks Expenses
Travel Costs
Accountancy/Payroll fee
Printing
Software Licence
Postage, stationery, etc.
**Total Resources Expended**
**Support Costs**
**Support Cost Type**
Clerk's salary
Clerks Expenses
Travel Costs
Accountancy/Payroll fee
Printing
Software Licence
Postage, stationery, etc.
**Total**|**Unrestricted**
**Restricted**
9,869|**Total**
**9,869**
0||
|---|---|---|---|
||9,869
0|9,869||
||**Fundraising**
**Charitable**
**Governance**
**Activity**
**Activity**
**Activity**
**£**
**£**
**£**
6,997
440
110
100
500
407
193
378||
**Total Cost**
**£**
6,997
440
110
600
407
193
378|
||**-**
**8,626**
**500**||
**9,126**|
## **5 Creditors**
|Independent Examination Fee|**2021**
**£**
500|**2020**
**£**
500|
|---|---|---|
||500|500|
## **6 Debtors**
There were no debtors at the end of this financial year
## **7 Analysis of Grants paid**
|
Ex gratia payments, gifts and
donations
Institutions
**TOTAL**|**Grants to**
**Grants to**
**Individuals**
**Institutions**
47,943
0
5,000
**47,943**
**5,000**|**Grants**
**Total**
47,943
5,000|
|---|---|---|
|||**52,943**|
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The Non Ecclesiastical Charity of William Moulton
## **8 Cash at Bank and in Hand**
|**Cash at bank and in hand**
Current Account
Instant Saver Account
Cash
Total|**2021**
**£**
200
34,687
0|**2020**
**£**
200
15,534
0|
|---|---|---|
||34,887|15,734|
## **9 Trustees’ Remuneration**
No Trustee received remuneration in this financial year
Charity No 216255
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