NORTHERN COUNTIES CHILDREN'S BENEVOLENT SOCIETY REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021
Page 1. NORTHERN COUNTIES CHILDREN'S BENEVOLENT SOCIETY CONTENTS PAGES Trust Information Truste88' Annual Report 3to5 Independent Examiners. Report Statement of Flnancial Activibes Balance Sheet Notes to the Accounts 9t011
Page 2. NORTHERN COUNTIES CHILDREN'S BENEVOLENT SOCIETY TRUST INFORMATION FOR THE YEAR ENDED 31ST DECEMBER 2021 Trustees Chair John Dickinson (Resigned 31st January 2022) Adam Waugh {Appointed 31st January 2022) Rèv D R J Holloway Dr E Jones Mrs E Browne-swinbume Mr J Cockbum Mrs Joy Hamilton Trustees Remuneration No Trustee shall receive remuneration. or be int6rest8d in th8 supply of work or goods, at the cost of the Charity. S8cretary Mrs G M Mackie 29a Princes Road Newc8Stle upon Tyne NE3 SAL Bankers Lloyds TSB Bank PLC 102 Grey Street Newcastle upon Tyne NE99 1SL Independent Examiner Derek Reah Reah & McBride C8rtif18d Accountants Suit• 2B North Sands Business Centre Liberty Way Sundedand SR6 OQA Charity Number 219696
Page 3. NORTHERN COUNTIES CHILDREN'S BENEVOLENT SOCIETY TRUSTEES. ANNUAL REPORT F R TrIE YEAR ENDED 31ST DECEMBER 2021 The Trustees are pleased to present their report together with the financial statements of the Charity for the year ended 31 st D6c&mber 2021. By a S¢hem8 of the Charity Commission sealed on 18th S8Ptemb8r 1980 the CharitTr9s ¢all8d The Northern Counties Orphan Institution (founded in the year 1864). The George Donkln Fund, and Ihe Charity of Hannah Ochiltree were administrated and managed together as one Charity under the title Northern Counties Orphan's Benevolent Society. The Adamson Memorial Fund and the Adamson Memorial Chapel Fund were exGluded from the Scheme b8cause there was no trace of these small funds being registered charities. By a further Scheme of the Charity Commission sealed on 24th January 2000, the name of the Chanty was changed to THE NORTHERN COUNTIES CHILDREN'S BENEVOLENT SOCIETY. Structuro, Governan and Manag•mont Constltutlon The object of the Charity is that it shall be for the benefrt of chiklren who are in need through sickness, disability or other causes and who are resident in the area of benefrt with a preference for children who are orphans and in special cases the benefit of children as aforesaKI who are resident elsewhere in England or Wales. There have been no changes in the objectives Sin the last annual report. Mothod of appolntm•nt of •l•¢tlon of Tru•tw• The body of the Trustees when complete shall o)nsist of eight persons. New Trustees Shall be appointed by the continuing Trustees. Pollcl•8 adw•d lor th• Inductlon and trnlnlng of Tru8to08 There are no formal procedures for the Inductlon and training of Trustees. Senior Trustees ensure, on an infomal basis, that new Trustees are glven adequat8 infomats'on to ensure that they have knowledge of the Charity and their role. Organlsallonal structure and docislon maklng Trustees carry out Ihe decision making process in a committee of unpaid individuals with relevant experience in the fields of medicine, finance, the law and children's care. This commrttee deals with fundln9 and Inv•#tm•nt docisions. Trustees meet at least four times 8 year to conslder all appIltIonS for support and other applications for funds. Related party transactlon8 The Trustees are not employed by the Charity or any other party to which the Charity makes grants. No Trustee takes part in any decision of the Charity where they or a projéct wilh which they have an interesl might benefit. Risk management The Trustees have assessed the major risks to vthich th8 Charity is exposed. They consider that the major risks are in th8 area of invesknent management and the control of the reconciling of donations receivable. Systems have been implemented by the Trustees to mitigate these risks and they consider the controls to be adequate and appropriate. effectiveness of these controls is reviewed on an ongoing basis.
Page 4. NORTHERN COUNTIES CHILDREN'S BENEVOLENT SOCIETY TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31ST DECEMBER 2021 Conlinued ObJectlvès and Activltles Policies and objectives The main area of benefits shall be the Counties of Cheshire. Cleveland, Cumbria, Durham, Greater Manchestèr. Humb8rside, Lancashire, Merseyside. Northumbedand, North Yorkshire. South Yorkshire, Tyne and Wear and West Yorkshire. Strntegies for achiovlng obJKtIv•s The Truslees take all reasonable steps to fully 8nquir8 into the circumstances arislng from th6 request of support including the financial circumstsnces. Usually home visits where possible are undertaken to review matters with the applicants and reports are obtainéd from relevant medical. school or other thlrd parti8s who Can provide supporting evKlence and infomiation. Actlvltlos for achioving objoctivos The Charity mak8s use of the nsiderable knowledge and contacts available to it from its Trustee membership to ensure that relevant support needs are brought to the attention of the Charity. As th8 demand for funding 8xcaèds the supply of funds available to the Charity. it is abl8 to ohoose those projects and posts that most closely match its objectives. Grant maklng pollclos The Charity currently offers support in the form of contributions towards sthool fees, school clolhlng etc. Invariably Ihe need for support arises through the premature death or severe illness of the major breadwinner, or the break-up of the family unit. Th8 financtal ¢ir¢umstsn¢es of the family are fully enquired into by the Trustees before an award is made. Flnanclal actlvlty During the year grants totalling £146896 vfftre awarded to 31 individual benefi¢iaries. The Trust's capital funds have been invested in a portfolio of sp8cial and wider range securities. There were revaluation profit on investments during the year of £257278 representing 12.6% of the market value at 31sl December 2021. ststemont of Trustee8' Rosponslbllltles The Trustees are responsible for preparing the Annual Report and the financial statements in accordanc8 with 8ppIic8ble18w and United Kingdom Generally Accepted A¢Unting Practice. The Trustees are required to prepare financial ststements for each financial year which give a true and fair view of the slale of affairs of the Ttust and of the Statement of Financial Activities of the Twst for that period. In preparing those financial statements the Trustees are required to.. Selecl suilable accounling policies and then apply consistently; Make judgements and estimates that are reasonable and prudent., and Prepare the financial statements on the ongoing concem basis unless it is inapproprFate to presume that the Trust will ntinUe to operate.
Page 5. NORTHERN COUNTIES CHILDREN'S BENEVOLENT SOCIETY TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31ST DECEMBER 2021 Continued The Trustèes are responsible for keeping proper records which disdose Ihe reasonable accuracy at any time the financial position of the Trust. Thèy are also responsible for safèguarding the assets of the Trust and h8nc8 for taking reasonable steps for prevention of and detection of fraud and other Irregularities. On behalf of the Trustees A. Waugh Trustee Date
Page 6. NORTHERN COUNTIES CHILDREN'S BENEVOLENT SOCIETY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NORTHERN COUNTIES CHILDREN'S BENEVOLENT SOCIETY I report to the trustees on my examination of the accounts of Ihe North8m Counties Children's Benevolent Society for the year ended 31* Decembar 2021. This report is made solely to the Trust's Trustees, as a body, in accordano with part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Trust's Trustees those matters l am required to state to them in an Independent Examin8r's report and for no other purpose. To th8 fullest extent pennitted by law, I do not accept or assume responsibility to anyonè other that the Trust and the Trust8es as a body. for my work or for this rep¢)rt. RESPON IBILITIE AND BASIS OF REPORT As the charity trustees of the Trust you ar8 responsibb for the preparation of the accounts in accordance with the requirements of the Charities Act 2011{Ihe Act.). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all th8 applicable Th'rections given by the Charity Commission under section 145(5)(b) of the Act. DEPENDENT EXAMINER'S STATEM NT I have completed my èxamination. I confirni that no material matters have rne to my attention In connection wlth the examination givlng me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by section 130 of the Act., or 2. the accounts do not accord with those records: or 3. the accounts do not comply with the applicable requirements conceming Ihe fom and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement thal the accounts give a fair and 'true vTrew' which is not a matter considered as part of an independent examination. I have no concems snd hove com• atross no oth•r mattorB in eonnoction wlth th• oxamination to whlch attention should be dravm in thls report In order to enable a kYop6r understanding of the ants to be reached. Derek Reah REAH & MCBRIDE. Certified Accountants Suite 2B North Sands Business C8ntre Liberty Way Sunderland SR6 OQA Date".
NORTHER COUNTIES CHILDREN'S BENEVOLENT SOCIETY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2021 Income Endowment Fund Fund Page 7. Total Funds 2021 Total Funds 2020 Notes INCOME Incom8 Donations and18gacies Sir John Priestman Charity Trust Trustees of the late J S Frazer Trustees of M61ville Weir deceased Donations 2350 1000 5000 240 2350 1000 5000 240 2350 1000 5000 2446 Investment income Dividends Bank interest 79137 79137 79022 30 TOTAL INCOME 87727 87727 89848 EXPENDITURE Investment management fees 5714 5714 4866 Charilable activities Education and clothing grants Support costs Gov8mance costs Othér resourc8s expended 146898 7523 840 1872 146896 7523 840 1872 32466 7523 810 1872 157131 157131 42671 TOTAL EXPENDITURE 162845 162845 47637 NET (EXPENDITURE) BEFORE GAINSILOSSES ON INVESTMENTS (75118) (75118) 42311 Gainsl(losses) on investments 24699 232579 257278 (76928) NET INCOMEIIEXPENDITURE) AND MOVEMENT IN FUNDS (50419) 232579 182160 (34617) TOTAL FUNDS AT 1 ST JANUARY 2021 157328 1612565 1769893 1804510 TOTAL FUNDS AT 31ST DECEMBER 2021 106909 1845144 1952053 1769893
Page 8. NORTHERN COUNTIES CHILDREN'S BENEVOLENT SOCIETY BALANCE SHEET A AT 31ST DECEMBER 2021 Notes 2021 2020 FIXED INVESTMENTS Investments at market value 2037253 1784460 CURRENT ASSETS Short tem deposits Cash al bank 4179 42946 4179 33371 47125 37550 LIABILITIES.. AMOUNTS FALLING DUE WITHIN ONE YEAR 816 NET CURRENT ASSETS 46285 36734 TOTAL ASSSETS LESS CURRENT LIABILITIES 2083538 1821194 D8f8rr8d grants payable 131485 51301 NET ASSETS 1952053 1769893 INCOME FUND Unrestricted 106909 157328 CAPITAL FUND Endowment 1845144 1812565 1952053 1769893 Approved b the Board of Tru on IIA. Waugh Trusts8 ..Mrs G M Mackie Secrgtsry The notes on pages 9 to 11 fi)rm part of these accounts
Page 9. NORTHERN COUNTIES CHILDREN'S BENEVOLENT SOCIETY NOTES TO THE FINANCIAL STATEMENTS AT 31 ST DECEMBER 2021 ACCOUNTING POLICIES 1.1 Accountin convention The financial ststemènts have been prepared under the historical cost convention, with items recognised at cost unless otherwise stated in th8 relevant notes. The financial statemenls have been prepared in accordance with the Statement of Recommended Practice. Accounting and Reporting by Charitbes preparing their accounts in ac¢ordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014. the Financial Reporting Standard applicable in United Kingdom and Republic of Ireland (FRS 102), the Charit18s Act 2011 and UK G8neralty ApIed Practice as it applies from 1 January 2015. The charity constitutes a public benefft entity as defined by FRS 102. Tha financial statements have been pr8pared to give a 'true and fairf view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair vi8w'. This departure has involved following AcrxJunting and Reporting by Charities preparing their a¢counts in accordanc8 With the Financial Reporting Standard applicable in th8 UK and Républic of Ir81and (FRS 102) issued on 16 July 2014 rather than the Acwunting and Reporting by Charili6s: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. 1.2 Fund accountin General funds are unrestricted funds which are avaibable for use at th8 di8¢xetion of the trust6es in furtherance of the general objectives of the charity and which have not been designated for other purpos88. Designated funds comprise unrestrfcted funds that have been set aside by the trust88s for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administrating such funds are charged against the specific fund. The aim and use of each restricted fund is set out in not8S to the financial ststements. Inveotrnent inGome, 9aino ond I*80 ar• allo¢at•d to th• appropriAta fund. 1.3 Investments Investments aré valued at market value on 31 st December 2021. The statement of financial aotiwties indudes the n8t gains and k)sses arising on revaluation throughout the year. 1.4 1 min and ex nditure Income from investments is credited on a receipts basis. Expenditure Is charged on an accruals basis. Grants payable are: Agr88d grants paid during th8 year Agreed grants which have not b8en paid which are payable on the satisfadion of a wndition on the part of th8 grantee which has not been satisf.
Page 10. NORTHERN COUNTIES CHILDREN'S BENEVOLE SOCIETY NOTES TO THE FINANCIAL STATEMENTS AT 31ST DECEMBER 2021 Continued rt costs Secretarial fees are apwjrtioned beiween Support Costs and administration. 1.6 Govemance costs Governance costs comprise all cost involwng public acwuntsbility of the Charity and its Complian with regulations and good practice. These costs include cost related to statutory audit or examination and legal fees. 1.7 Realised alns and losses All gains and losses are taken to th8 stalement of financial actNities as they arise. Realised gains and losses on investments are calculated as the differencA8 between sales proceeds and opening market value {purchase date rf later). Unrealised gains and losses are calculated as th8 difference beeen the mark8t value at the year end and opening market value (or purchase date if later). Realised and unrealised gains are not separated in the Stslemenl of Financial Activities. 1.8 Cash flow statement The Trustees have taken advantsge of the exemption conferred by FRSI to disp8ns8 With the requirement to prepare 8 cash flow ststement on the grounds that the tru6t qualifies as a small entity. Other ex nde Secretadal 1872 1872 Transfer behveen f During the year monies have be8n transferred from the endowmént to the income fund to enable an increase in the level of support provided 8s grants. Inve8tm8nt8 2021 2020 Market valu8 at 1st January 2021 (Reduction) in investments Net investmenl gainsl{l¢)sses) (unrealised) Net investmeni gainsl (losses) (realised) 1784460 (4485) 211086 46192 1861388 (42323) (34605) Market value at 31st Dernber 2021 2037253 1784460 Cost at 31 st D8eember 2021 1757554 1708912 Unrestrict8d funds 2021 2020 General fund Adamson Memorial Fund Adamson Memorial Chap81 Fund 93453 146872 5866 4590 4590 106909 157328
NORTHERN cOuriEs CHILDREN'S BENEVOLENT SOCIETY NOTES TO THE FINANCIAL STA Page11. MENTS AT 31ST DECEMBER 2021 Continued Pemianent endowment The permanént endowment fund was established under a scheme approved by the Charity Commissioners on 18th September 1980. The income of the fund is available for general purposes. Reconciliation f fun or the ar ended 31st December 2021 Unrestricted Pemianent ndowm8nt Total At 1 st January 2021 Net movements of resourc8s in year 157328 (50419) 1612565 1769893 232579 182160 Balance carried forward at 31 st December 2021 106909 1845144 1952053 R6pr8sented by.. Investments N81 current assets Deferred grants payable 192109 46285 (131485) 1845144 2037253 46285 (131485) 106909 1845144 1952053