Cc NORTHERN COUNTIES CHILDREN'S BENEVOLENT SOCIETY RT AND FINANCIAL STATEMENTS REP OR THE YEAR ENDED 31ST DECEMBER 2022
Page l. NORTHERN COUNTIES CHILDREN'S BENEVOLENT SOCIETY CONTENTS PAGES Trust Informalion Tru5tees' Annual Report 3to5 Independent Examiners, Report Statement of Financial Activities Balance Sheet Notes to the Accounts 9t011
Page 2. RTHERN COUNTIES CHILDREN'S BENEVOLENT SOCIETY TR ST INFORMATION FOR THE YEAR ENDED 1ST DECEMBER 2022 Truste88 Chair Adam Waugh Rev D R J Holloway Dr E Jones Mrs E Brown8-Swinbume Mr J Cockbum Mrs Joy Hamilton (Resigned 5th July 2022) Lynn Docherty {Appointed 5th July 2022) Trustees Remuneration No Trustee shall recelve remuneration, or b8 interested in the supply of work or goods, at the ¢ost of the Charity. Secretary Mrs G M Mackie 30 Princes Road Newcastle upon Tyne NE3 5rr Bank8rs Lloyds TS8 Bank PLC 102 Grey Street Newcastle upon Tyne NE99 1SL Independent Examin8r Derek Reah Reah & McBrid8 Certified Accountants Suit• 2B North Sands Business Centre Liberty Way Sund8dand SR6 OQA Charity Number 219696
Page 3. NORTHERN C UNTIES CHILDREN'S BENEVOLENT SOCIETY TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31ST DECEMBER 2022 The Trustees are pleased to present their report together vth the financial ststements of the Charity for the year ended 31 st December 2022. By 8 Scheme of the Charity Commission sealed on 18th September 1980 the Charities rAlled The Northem Counties Orphan Institution {founded in th8 year 1864), The George Donkin Fund, and the Charity of Hannah Ochiltree were administrated and managed together as one Charity under the title Northern Counlies Orphan's Benevolent Society. The Adamson Memorial Fund and the Adamson Memorial Chapel Fund were excluded from the Scheme because there was no tra of these small funds being registered tharities. By a further Scheme of the Charity Commission sealed on 24th January 2000, Ihe name of the Chanty was Changed to THE NORTHERN COUNTIES CHILDREN'S BENEVOLENT SOCIETY. Struduro, Governance and Management Constltutlon The objecl of the Charty is that tt shall bé for the benefft of ¢hildr8n who are in need through sickness, disability or other cau$6s and who are resident in the area of benefit with a pref8ren¢e for children who are orphans and In sp8cial cases th8 benefit of children as aforesaid who are resident elsewhere in England or Wales. There have been no chenges in th8 objectives since the last annual report. Meth¢)d of appolntm•nt of eloctlon of TrustOOS Th8 body of the Trustees when complete sh811 consist of eight persons. New Truste8s shall b8 appointed by the continulng Trustees. Pollc1•8 adopted for th• Inductlon and trnlnlng of Trustaos There are no fomial procedures for the induction and training of Trustees. Senior Trustees ensure, on an informal basis. that new Trustees are given adequate inforniation to ensure that they have knowledge of the Charlty and their rol6. Organlsatlonal structure and declslon maklng Trustees cary Out the decision making process in a committ8e of unpaid individuals with relevant experience in the fields of medicine, finance, the law and children's care. This commrttee deals with funding and Inveslfflent deGi¥ions. Trustees meet at least four tlmes a year to consider all applications for support and other applications for funds. Rolatsd party tran8actlons Thè Trustees are not employed by the Charity or any other party to which the Charity makes grants. No Truslee takes part in any decision of the Charity where they or a project with which they have an interest might benefit. Rlsk management The Trustees have assessed the major risks to which th8 Charity Is exposed. They consider that the major risks are in the area of investment 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. The 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 2022 Continu Objectivas and Activbties Policles and objectives The main area of benefits shall be the Counties of Cheshire, Cleveland, Cumbria, Durham, Greater Manchester, Humberside. Lancashire. Merseyside, Northumberland. North Yorkshir8, South Yorkshire, Tyne and Wear and West Yorkshire. Stratagles for a¢hlevlng objoctiv The Trustees take all reasonable steps to fully eTh]uire into the ¢ircumstan¢es arising from the request of support including the financial circumstances. UsLbally home visits where possible are undertaken to review matters with the applicants and reports are obtained from relevant medicAI, school or other third parties who ran provide supporting evidence and infonnation. Actlvltles for achl•vlng obJo¢tlv The Charity makes use of the considerable 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 the demand for funding 8xceeds the supply of funds available lo thg Charsty, it is able to choose those projects and posts that most closety match its objedives. Grant maklng pollcle8 The Charity currently offers support in the fomi of Contributions towards school fees, sch¢)ol clothing et¢. Invariably the need for support arises through the premature death or severe illness of the major breadwinnér, or th8 break-up of the family unit. The financial Gircumstances of the famlly are fully enquired into by the Truste8s before an award is made. Flnanclal actlvlty During the year grants totalling £27316 were awarded to 33 indlwdual beneficlaries. The Trust's capital funds have been invested in a portfolio of special and wider range securities. There wera revaluation loss on investments during the year of £(145977) representing 7.7% of the market value at 31st December 2022. Statomont of Truste88' Rosponslbllltle• The Trustees are responsible for preparing the Annual Report and the financial statèments in accordance with applicable law and United lQngdom Generally Accepted Accounting Practice. The Trustees are required to prepare financial statements for each financial year which give a true and f8ir VI of the state of affairs of the Trust and of the Ststement of Financial Activities of the Trust for that period. In preparing those financial statements the Trust8es are required to". Seled suitable accounting policies and then apply consistenty". Make judgements and estimates that are reasonable and prudenL' and Prepare the financial statements on the ongoing nCern basis unless it is inappropriate to presume that tho Trust will continue to operate.
Page 5. NORTHERN COUNTIES CHILDREN'S BENEVOLENT SOCIETY TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31ST DECEMBER 2022 Con nued The Trustees are responsible for keeping proper records which disclose the reasonable accuracy at any time the financial position of the Trust. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for prevention of and detection of fraud and other irregularities. On behalf of the Trustèes lQ4uJ A. Waugh Trustee Date
Page 6. NORTHERN COUlEs HILDREN'S BENEVOLENT SOCIETY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NORTHERN COUNTIES CHILDREN'S BENEVOLENT SOCIETY I report lo the trustees on my examination of the accounts of the Northem Countiès Children's Benevolent Society for the year ended 31st December 2022. This report is made solely to the Trust's Trustees, as a body. in accordan with part 4 of the Charities (Accounts and R8POrts) 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 Examiner's report and for no other purpose. To the fullest extent P6miitted by law, I do not accept or assume responsibility to arbyone other that the Trust and the Trustees as a b¢)dy. for my work or for this report. SPONSIBILITIES AND BASIS OF REPORT As Ihe charity trustees of th6 Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011(the Act.). I report in respect of my examination of th8 Trust's accounts ¢arTied out under Section 145 of th8 2011 Act and in carrying out my examination I have folh)wed all the appllcabk8 Directions given by the Charlty Commission under sedion 14q5Xb) of the Act. INDEP NDENT EXAMINER'S STAT MENT I hav8 compleled my examination. I confirm that no material matters have come to my attention in connection with the examination giving me Cause to believe that in any materlal respect: 1. accounting records were not kept in respect of the Trust as required by section 130 of the Act., or 2. th8 accounts do not accord with those records: or 3. the accounts do not comply with the applicable requirements nCernIng the form and C£tent of accounls set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a fair and 'true view, which is not a matt8r considered as part of an Independent examination. I have no concèm? and havg eom• across no oth8r matters in connection with the examination to which attention should be drdvm in this report in order to enable a prop8r understsnding of the account8 to be r8ached. Derek Reah REAH & MCBRIDE, Certified Accountsnts Suite 2B North Sands Business Centr6 Liberty Way Sunderland SR6 OQA Date..
Page 7. NORTHERN COUNTIES CHILDREN, STATEMENT OF FINANCIAL ACTIVITIES FOR ThE YEAR ENDED 31 ST DECEMBER 2022 Income Endowment Total Total Fund Fund Funds Funds 2022 2021 BENEVOLENT SOCIETY Notes INCOME Income Donations and legaGies Sir John Priestman Charity Trust Trustees of the late J S Ffazer Trustees of Melville Weir deceased Donations 2350 1000 5000 240 2350 1000 5000 240 2350 1000 5000 240 Investmenl income Dividends Bank interest 92841 61 92841 61 79137 TOTAL INCOME 101492 101492 87727 EXPENDITURE Investment management fees 5743 5743 5714 Charitable actsvltles Education and clothlng grants Support cosls Governance costs other resources expended 27316 7619 864 1872 27318 7619 146896 7523 840 1872 1872 37671 37671 157131 TOTAL EXPENDITURE 43414 43414 162845 NET (EXPENDITURE) BEFORE GAINSILOSSES ON INVESTMENTS 58078 58078 (75118) Gainsl(lossesl on investments (14014) (131963) (145977) 257278 NET INCOMEIIEXPENDITURE) AND MOVEMENT IN FUNDS (131963) (87899) 182160 TOTAL FUNDS AT 1ST JANUARY 2022 106909 1845144 1952053 1769893 TOTAL FUNDS AT 31 ST DECEMBER 2022 150973 1713181 1864154 1952053
Page 8. NORTHERN COUNTIES CHILDREN'S BENEV LENT SOCIETY BALANCE SHEET AS AT 31ST DECEMBER 2022 2022 2021 FIXED INVESTMENTS Investments at market value 1885435 2037253 CURRENT ASSETS Short temi deposits Cash at bank 4183 49222 4179 42946 53405 47125 LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR NET CURRENT ASSETS 52541 46285 TOTAL ASSSETS LESS CURRENT LIABILITIES 1937976 2083538 Deferred grants payable 73822 131485 NET ASSETS 1864154 1952053 INCOME FUND Unrestricted 150973 108909 CAPITAL FUND Endowment 1713181 1845144 1864154 1952053 Approved by t e Board of Trust on ..A. Waugh Trustee ..Mrs G M Macki8 Secretary The notes on pages g to 11 form part of thes6 a¢Unts
Page 9. RTHERN COUNTIES CHILDREN'S BENEVOLENT SOCIETY NOTES TO THE FINANCIAL STATEMENTS AT 31 ST DECEMBER 2022 ACCOUNTING POLICIES 1.1 Acwunli convention The financial ststem8nts have been prepared under the historiGal cost convention, wilh items recognised at cost unless otherwise stated in the relevant notes. The financial statements have been prepared in accordance with the Statement of Recommended Practice. Accounting and Reporting by Charities preparing th8ir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) issu8d on 16 July 2014, the Financial Reporting Stsndard applicable in United Kingdom and Republic of Ireland (FRS 102), th8 Charities Act 2011 and UK Generalty Accepted Practice as it applies from 1 January 2015. The charity constitutes a public benefft entity as defined by FRS 102. The financial statements have been prepared to give a 'true and fairf view and have departed from the Charities {AGcounts and Reports) Regulations 2008 only to the extent required to provide rue and fair view,. This departure has involved following Accounting and Reporting by Charitles preparing their a¢untS accordance with the Financial Reporting Standard applicable in lh8 UK and Republic of Ireland {FRS 102) issued on 16 July 2014 rather than the Accounling and Reporting by Charities., Statement of Rewmmended Practice effectiv8 from 1 April 2005 which has since been withdrawn. 1.2 Fund acco ntin General funds are unrestricted funds which are avaibabl8 for use at the dlscretion of the trustees in furtherancè of the general objectives of the ¢hanty and which have not b8en designated for other purposes. Designated funds comprise unrestri¢t8d funds that have been set asid8 by the trustees for particular purposes. The aim and use of each designat8d fund is set out in the notes lo th8 financial statements. Restricted funds are funds which are to be used in ac¢ordance with specific restrictions Imposed by donors or which have been raised by the charity for particular purposes. The costs of raising 8nd administrating such funds are chargèd against the specific fund. The aim and use of each restri¢l8d fund is set out in notes to the financial statements. Invo•tmont ineom•. 9ain$ and 10s8os ara allocatéd to thè appropriate fund. 1.3 Investmen Investments are valued at market value on 31st December 2022. The statement of financial activities includes the net 9ains and losses arising on revaluation throughout the year. 1.4 Incomin and ex nditu Income from investrnents is credited on a receipts basls. Expenditure is charged on an accruals basis. Grants payable are.. Agreed grants paid during the year Agreed grants which have not been paid which are payable on the satisfaction of a condition on the part of the grant8e which has not been satisfied.
Page 10. NORTHERN COUNTIES CHILDREN'S BENEVOLENT SOCIETY NOTES TO THE FINANCIAL STATEMENTS AT 31ST DECEMBER 2022 Continued ort costs Secretarial fees are apFQrtioned beeen Support Costs and administration. 1.6 Gov rnance costs Governance costs comprise all cost involving public accountsbility of Charity and its compliance with regulations and good practi. These Gosts indude cost related to statuiory audit or examination and legal fees. 1.7 Reallsed All gains and losses are taken to the stst8ment of finan¢lal activities as they arise. Realised gains and losses on investmenls are calculated as the difference betsveen sales proceeds and opening market value (purchas8 date if later). Unrealised gains and losses are calculated as the difference be88n the market value at the year end and opening market value {or purchase date rf later). Realised and unrealised gains are not separated in the Stalement of Financial Activitiès. ains nd losses 1.8 Cash flo The Trustees have taken advantage of th8 ex8mplion ¢onferr8d by FRSI to dispense wilh Ihe requlrem8nt to prepare a cash flow statement on the grounds that the trust qualffies as a small entity. sta emen Ot er resourcès ex en 2021 Secretarial 1872 1872 Transfer n funds Durlng the year monies have been transferred from the endowment to the income fund to enable an increase in the level of support provbded as grants. nvoa •n 202 Market value at 1st January 2022 (Reduction) in investrnents Net investment gainsl(losses) (unreallsed) Nel investment gainsl (losses) (realised) Markel value at 31st December 2022 2037253 (5841) (111817) (34160) 1784460 (4485) 211086 46192 1885435 2037253 Cost at 31st December 2022 1799558 1757554 Unrestricted funds 2022 2021 General fund Adamson Memorial Fund Adamson Memorial Chapel Fund 140517 5866 4590 96453 5866 4590 150973 106909
Page 11. NORTHERN COUNTIE HILDREN'S BENEVOLENT SOCIETY NOTES TO THE FINANCIAL STATEMENTS AT 31 ST DECEMBER 2022 Continued Permanent endowment The p8rmanent endowment fund was established undér a scheme approved by the Charfty Commissioners on 18th September 1980. The income of the fund is available for general purposes. econciliation of ar ended 31st D8cem Unrestrided funds Pemianent endowment Total At 1st January 2022 Net movements of resources in year 106909 1845144 1952053 (131963) {878991 Balance carried forward at 31st Decemb8r 2022 150973 1713181 1864154 Represented by.. Investments Net current assets Deferred grants payable 172254 52541 (73822) 1713181 1885435 52541 {73822) 150973 1713181 1861454