c( NORTHERN COUNTIES CHILDREN'S BENEVOL NT SOCIETY REPORT AND FINANCIAL STATEMENTS FOR TrIE YEAR ENDED 31 ECEMBER 2024
NORTHERN COUNTIES CHILDREN'S BENEVOLENT SOCIETY Page1. CONTENTS PAGES Trust Infomation Trustees. Annual Report 3to5 Independent Examiners, Rewrt Stslement of Financk81 Activilles Balance Sheet Notes to the Accounts 9t011
Page 2. NORTHERN COUNTIES CHILDREN'S BENEVOLENT SOCIETY TRUST INFORMATION FOR THE YEAR ENDED 31ST DECEMBER 24 Trustees Chair Adam Waugh Rev D R J Holloway Dr E Jones Mrs E Browne-swinbume Mr J Cockbum Ruth Foster Trustees Remuneration No Tw61ee shall receiv8 remuneration. or be Interested in the supply of yrk or goods. at the cost of th8 Charity. Secret8ry Mrs G M Mackie 30 PrinS Road Newcastl8 uwn Tyne NE35 Bankers Lloyds TSB Bank PLC 102 GY Street Newcastle upon Tyne NE99 1SL Indep8ndent Examiner Derek Reah Reah & McBrfde Certifiad Accountants Suite 28 North Sands Business Centre Libety Way Sunderland SR6 OQA Charity Number 219696
NORTHERN COUNTIES CHILDREN'S BENEVOLENT SOCIETY TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 ST DECEMBER 2024 The Trustees are pleased to present their report together with the financial statements of the Charity for the year ended 31st December 2024. Page 3. By a Scheme of the Charity Commission sealed on 18th September 1980 the Charitles called The Northem Counties Orphan Institution (founded in the year 1864). The George Donkin Fund, and Ihe Charrly of Hannah Ochiltree were administrated and managed together as one Charity Lrnder the title Northern Counties Orphan's Benevolent Society. The Adamson Memorial Fund and the Adamson Memorial Chapel Fund were excluded from the Schème because there was no trace of these small funds being r6gislered Charities. By a further Sd)eme of the Charity Commission sealed on 24th January 2000. the name of the Charity was changed to THE NORTHERN COUNTIES CHILDREN'S BENEVOLENT SOCIETY. Structurn. Govemanco and Managemont Constitution The object of the Charity is that it shall be for the benefrt of children vtho are in n8ed through sickness, disability or other causes and who are resident in the area of benefit with a preference for children who are orphans and in special Cases the bènefit of children as aforesaid who are resid8nt elsewhere in England or Wales. There have been no changes in the obj'ectives since the last annual report. Mathod of appolntmont of •l•ctlon of Tru8t0O8 The body of the Trustees when complete shall nsiSt of eight persons. New Trustees shall b6 appointed by the Continuing Tnjstees. Pollcles adopt•d for tho Inductlon and tralnlng of Truste There ar8 no formal procedures for the induction and training of Trustees. Senior Trustees 8nsur8. on an informal basis, that new Trustees are given adequate inf0m1atn to ensure that they have knowledge of the Charity and their role. Organl8atlonal 8tructurn and declslon maklng Trusteès Carry out the decision making process in a o)mmittee of unpaid individuals with r6levant experiencè in the fields of medicine, finance, the law. children's care and education. This committee deals with funding and investment decisions. Trusle88 meet at18ast four times a year to consider all applicats'ons for support and oth8r applications for funds. Relatgd party transaction8 The Trustees are not employed by the Chanty or any other party to which the Charity makes grants. No Trustee takes part in any decision of the Charity where they or a project with which they have an Inte8t might benefit. Risk management The Trustees have assessed the major risks to which the Charity is extM)sed. They consider that th8 major risks are in the area of investment management and the conlrol of the reconciling of donations rec8ivable. Systems have been implemented by the Truslees to mitigate these risks and they consid&r the controls to be adequate and appropriate. The effectiveness ol these Controls is revrewed on an ongoing basis.
NORTHERN CourIEs CHILDREN'S BENEVOLENT SOCIETY TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31ST DECEMBER 2024 ObJ•ctlves and Actlvities Psge 4. Continued Policies and objectives The main area of benefits shall be the Counlies of Cheshire, Cleveland. Cumbrfa, Durham, Greater Manchester, Humberside. Lancashire. Merseyside. Northumberland. North Yorkshire, Soulh Yorkshire, Tyne and Wear and West Yorkshire. Strateglès for achlovlng obJectiVè8 The Trustees lake all reasonable steps lo fully enquirg into the circumstanc86 arising from the request of support including the financial circUmstans. Usually home visits wher6 possible are undertaken to review matters with the applicants and r8ports are obtained frorn relevant medical, school or other third parties who can provide supporting evidence and information. Actlvltlè8 for achievlng obJe¢tlve8 The Chanty 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 att6ntion of the Charity. As th8 demand for funding exceeds the supply of funds available to the Charity. it Is able to choos8 those proj8¢ts and posts Ihat most closely match its obj8div8S. Grant maklng pollclos The Charity currently offers support in the fonn of ntrIbutiOnS towards s¢knl fees, school clothing elc. Invariably the need for support arises through the premature death or severe illness of the major breadwlnner, or the break-up of the family unit. The financial cirmstanceS of the famity are fully enquired into by the Trustees before an award is made. Flnanclal actlvlty During the year grants totslling £69023 were awarded to 29 individual beneficiaries. The Trust's capital funds have been invested in a portfolio of special and wrder range securities. There We revaluation loss on investments during ihe year of £(39060) representing 1.95% of the mark8t value at 31st D8cÈmb8r 2024. Statèment of Tru•tees' R•sponslbilitlè8 The Trustees are responsible for preparing the Annual Report and th6 financial slalements in accordan with applicable law and United Kingdom Generally Awepted Accounting Practw. The Trust8es are r8quir8d to prepa financial statements for each financial year which give a true and fair view of th8 Staté of affairs of the Trust and of the Statement of Financial Activities of the Trust for that period. In preparing those financial statements the Trustées a required to.. Select sultable accounting policies and then apply consislently., Mak8 judgements and estimates Ihat are reasonable and prudent,. and Prepare the financial statements on the ongoing nCern basis unless it is Inappropriate to presume Ihal the Trust will continue to operate.
Page 5. NORTHERN COUNTIES CHILDREN'S BENEVOLENT SOCIETY TRUSTEES, ANNUAL R PORT FOR THE YEAR ENDED 31ST DECEMBER 2024 Continued Th8 Trustees are responsible for keeping proper records whlch disclose the reasonable accuracy at any time the financial position of the Trust. They are also responsible for safeguarding th6 assets of the Trust and hence for tsng reasonable steps for prevention of and detection of fraud and olher irr8gularities. On behalf of the TteeS Trustee Date l3
NORTHERN COUNTIES CHILDREN'S BENEVOLENT SOCIETY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NORTHERN COUNTIES CHILDREN'S BENEVOLENT SOCIETY Page 6. I report to the trustees on my examination of the accounts of the Northem Counties Children's Benevolent Society for the year ended 31st December 2024. This report is made solely to the Trust's Trustees, as a body, in accordance 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 Ihose matters l am required to state to them in an Independent Examinerfs report and for no other purpos8. To the fullest extent p8m)itted by law. I do not accept or assume responsibilty to anyone other that the Trust and th8 Trustees as a body, for my work or for this report. RESPONSIBILITIES AND BASIS OF REPORT As the Charity trustees of the Twst you are responsible for the preparation of the accounts in 8¢cordance with the requirements of the Charrties Act 2011 (Ihe Act,). I report in respect of my examination of the Trust's a¢counts carried out under 8e¢tion 145 of the 2011 Act and in carying out my examination I have followed all the applicable txrections glven by the Charfty Commission under section 145(5Xb) of the Ad. INDEPE DENT EXAMINER, TEM I hav8 completed my examinatron. I confirm that no material matters have come to my attention in connection with th8 examination giving me Cause to belreve that in any material resp8Ct: 1. accounting records Vre not kept in resp8Ct of the Trust as required by 8éCtlon 130 of the Act., or 2. the acunIS do not 8ccord with those records: or 3. th8 accounts do not comply wrth the applIble requirements concerning the form and content of accounts sel out in the Charitres (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a fair and Yrue view, which is not a matter considered as part of an independent examination. I have no concems and have come across no other matters in connèction with tho exeminallon Io Wnlch att•ntlon ghould b? drawll In this report in ord8r to enable a proper understsnding of the accounts to b6 reached. Derek Reah REAH & MCBRIDE. Certified Accountants Suite 2B North Sands Business Centre Liberty Way Sundedand SR6 OQA Date..
NORTHERN COUNTIES CHILDREN'S BENEVOLE SOCIETY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024 Income Endowm&nt Fund Fund Page 7. Notes Tot81 Funds 024 Total Funds 2023 INCOME Income Don8trons and legaci85 Sir John Priestman Charity Trust Trustees of the late J S Frazer Trustees of M81vill6 Weir deceased Donations Charles Arch Thorpe Trust 5000 1000 10000 240 5000 1000 10000 240 1000 240 146815 Investment income Dividends Bank interest 92134 963 92134 963 100504 1152 TOTAL INCOME 109337 109337 249711 EXPENDITURE Investment management fees 8217 8217 5655 Charitable activit18S Education and clothing grants Support ¢osts Gov8manc8 Costs Other resources expended 69023 7835 912 1872 69023 7835 912 1872 126951 7493 888 1872 79642 79642 137204 TOTAL EXPENDITURE 87859 87859 142859 NET (EXPENDITURE) BEFORE GAINSILOSSES ON INVESTMENTS Gainsl(losses) on investsn8nts 21478 21478 106852 {3750) {35310) (39060) {7437) NET INCOMEI(EXPENDITURE) AND MOVEMENT IN FUNDS 17728 {35310) (17582) 99415 TOTAL FUNDS AT 1ST JANUARY 2024 TOTAL FUNDS AT 31 ST DECEMBER 2024 257111 1706458 1963569 1864154 274839 1671148 1945987 1963569
NORTHERN COUNTIES CHILDREN'S BENEVOLENT SOCIETY BALANCE SHEET AS AT 31ST DECEMBER 2024 Page 8. 2024 FIXED INVESTMENTS Inveslments at market value 2023 1999559 2035833 CURRENT ASSETS Short term deposits Cash at bank 39959 4183 36533 39959 40716 LIABILITIES.. AmOUs FALLING DUE WITHIN ONE YEAR 5592 888 NET CURRENT ASSETS TOTAL ASSSETS LESS CURRENT LIABILITIES 39828 2033926 2075661 Deferred grants payable NET ASSETS 87939 112092 1945987 1963569 INCOME FUND Unrestricted 274839 257111 CAPITAL FUND Endowm•nl 1671148 1706458 1945987 1983569 Approved by the Board of Trustees on Trustee Secretary ..Mrs G M Mackie The notes on pages 9 to 11 form part of these accounts
NORTHERN COUNTIES CHILDREN'S BENEVOLENT SOCIETY NOTES TO THE FINANCIAL sTATEmEs AT 31ST DECEMBER 2024 ACCOUNTING POLICIES Page 9. 1.1 Accountin convention The financial statements have been prepared under the historical cost convention, with items recognised at cost unless othenMise stated in the relevant notes. The financial statements hav8 been prepared in acwrdance with the Statement of Reo)mmended Practice. Accounting and Reporting by Charities preparing their accounts in aordar)ce with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014. the Financial Reporting Standard applicable in Untted Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Apted Practs'ce as it applies from 1 January 2015. The charity constitutes a public benefit entity as defined by FRS 102. The financial stat8ments have been prepared to give a Irue and fair view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent requiréd to provide a 'true and fair view,. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of R8mrnended Practice effective from 1 April 2005 which has since been withdrawn. und accoun in General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and whlch h8ve not been designat8d for olher purpos8S. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to th6 finaneAal stat8menls. Restricted funds are funds vthich are to te used in accordance specific restrictions imposed by donors or which have been raised by the chanty for particular purposes. The costs of raising and administrating such funds are charged against the specific fund. Th8 aim and use of 88ch restricted fund is set out in notes to th8 finan81 statements. Investment income. gains and losses are allocated to the approDriate fund. 1.3 1 ves men Investments are valued at market value on 31st December 2024. The statement of financlal activities includes the net gains and Ioss8s arising on revaluation throughout the year. arKI ex nditure Income from investments is credited on a receipts basis. Expenditure is (*arged on an accwals basis. Grants payable are: Agreed grants paid during the year Agreed grants which have not been paid which a payable on the satisfaction of a condttion on the part of the grantee which has Th)t been satisfied.
NORTHERN COUNTIES CHILDREN'S BENEVOLEFTh SOCIETY NOTES TO THE FINANCIAL STATEMENTS AT 31 ST DECEMBER 2024 Continued Page 10. ort costs Secretarial fees are apportioned behveen Support Costs and administration. 1.6 Governance costs Governance costs comprise all cost involving public accountabilty of th6 Charity and its compliance with regulat#)ns and good practice. These costs include cost related to statutory audit or examination and legal fees. 1.7 Realised ains and Ioss8S All gains and losses are tsken to the statement of financial acbvities as they aris6. Reallsed gains and losses on inveslmenls ar8 calculated as th8 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 dale if later). Realised and unre81ised gains are not separated in the Statement of Financial Activities. 1.8 Cash flow stat Th8 Trustees have taken advantsge of the exèmption conferred by FRSI to dispense with the r6quirement to prepare a cash flow stalement on the grounds that the trust quallfies as a small enlily. r resources ended 2024 202 Secretarlal 1872 1872 Transfer betr4een fun During the year monies have been transferred from the endowment to the income fund to enable an increase in the18vel of support provided as grants. Investmènts 2024 202 Market value at 1 st January 2024 Increase in investments Net investm8nt gainsl{losses) (unrealrsed) Net Investm8nt gainsl (losses) {realised} Market value at 31st December 2024 2035833 2786 (31290) {7770) 1885435 157835 4571 {12008) 1999559 2035833 Cost at 31 st December 2024 1842671 1942728 nrestricted funds 2024 2023 G8n8ral fund Adamson Memorial Fund Adamson Memorial Chapel Fund 264383 5866 246655 5866 4590 274839 257111
NORTHERN COUNTIES CHILOREN'S BENEVOLENT SOCIETY NOTES TO THE FINANCIAL STATEMENTS AT 31 ST DECEMB R 2024 Pagg 11. Continued Permanent endowment Th8 pemianent endowment fund was established under a scheme approved by the Charity Commissioners on 18th September 1980. The income of th8 fund is avallable for g6neral purposes. Reconciliati n of funds for the rend 31st r 2024 Unrestricted nds Pemianent endowmen Tot At 1st January 2024 Net movements of resources in yèar Balance carried fonvard at 31st Deomber 2024 Representéd by.. Investments Net current assets Deferred grents payable 257111 17728 1706458 1963569 {35310) (17582) 1671148 1945987 274839 328411 34367 (87939) 1671148 1999559 34367 (87939) 1671148 1945987 274839