R*red Charfty Pknber. 220722 Report of the Truste•s and Lhwdlted Hnondal Statements for the)Tar ended 301h June 2025 Ilorthern Brethr.$ F. Small Fwd$ Harrison Hutchinson Ltd Chartered Accountants 246 Park Whitle Ba ne and Wear NÉ26 3
Nheffl Brethren's Fwd- Small Funds Report of the Trustees Independent Examln*s Report Statementof Flnanclal PLtsvities Balance sheet Notes tothe Financlal Statements Detailed Statement of Rnandal Actlvltles io
I4heM Brethwen's Fund. SmJll Funds Report ofthe Tnthes for the year ended 31Xh June 2025 The trustees present their report with the financial statements of the Charttyforthe year ended 30th June 2025. The trustees have adopted the provisions of Accounting and Reportlng by Charftles: Ststement of Recommended Prnctice applicabte to charitles preparing their accounts in accordan with the Flnandal Reportlng Standard appllcable in the UK and Republic of Ireland IFRS 102Xeffective l January 20191. OBJEcnvES AND AcnvmES ObJectl¥es and alffls The fund's purpose Is to support the retired priests of the Diocese of Hexham and Newcastle and to help them Joln in the spiritual Ilfe of the Dictese. Persons may become benefactors by a donatlon or bequest of legacy of £Ic or more. Those wishing to become a benefactor should apply to thelr parlsh priest orto the Reveren Secretsry. S*nlficant aLll¥ltles To achleve the princlpal objectlve. set out above. the trust deed ahOrIseS the trustees to invest montes (not required for the time being for Its purposes) in or upon investments, securitles or property as they shall think fft. Publlc benefft As the members of the fund eonsist of speculate aer8y incardSnate Into the Oiocese of Hexham and Newcastle. the trustees conslder Ihavlng read the Charity commission guidance on publlc benefltl that the charity Is not providing a benefit to the general public. In the yearto 30th June 2025. the fund (safe forthe avallable balance) was fully Irwested. In Ilght of the challenglr8 cllmate, drl¥en in the main by the global pandemle and its aftereffects, as well as the more rent COSt of Ilving crisis, the market value of the fund's Ilsted investments as at 30th June 2025 was £47954312024- £458,668I. FINANaAL REVIEW F1Thda1 posldon During the year to 30th June 2025, the investment Income. interest received and Pfit on diswal of shares generated by the fund arnounted to E34,79712024-£9.108). PrIPa fundlw sowces A5 a principal source of funds is dwidends from investments. Brewln Dclphin. the fund's $tkbrokers. have ststed that their Investment strategy aims to provlde a balanced retum whllst taking on a medium level of risk. All investments are made wlthln ethical consttsints such a5 avolding dirert investment In amiament cornpanies. The trustees have establlshed a reseryes poliDI. the holdirq available balance an amwnt equal to between 3 and 4 months operational costs. The available balance at the balance sheet date was £93IE312024- £87.566). The trustees are sètished that have sufflent reseNices on hand to enable the fund to fUn effectively In the coming year. Page I
rrthff Brethren's Fund. Small Funds Report of the Trustees. contlnued foi the ended 31Mh 2025 sTriJcruRE. GOVEftNANCEAND MANAGEMEIIT Govemhw document The Canon James Stark Tnjst. the worklng name of which is the Northern Brethren's Fund- Small fund, governed by a trust deed dated 2nd May 1923. The fund is a charftsble unlncorporated body and Is governed by the rules of and in the above trust deed. Re(ltsnt and appolnbnentof newtrustoes When the trustees need to appoint a new trurtee to replace a trustee. it is placed on the nemt available trustees meeting agenda fordi5cusslon. The members make theirSuest1OnS and the boèrd, after a discussion, agree who should be appmaehed. Sultable candidates need to be known for their pastoral sensltivity and have the health and well being of sic* and retired clerbw at heart. Once approached and havlng ?ccepted the Invitation to be a fund trustee, they are welcomed at the next wtlng. (ntsaIlo3l stru(tswe The organtsational structure conslsts of trustees (the number of whlch Is noted in the a¢eountsl. volunteerclergy who attend the day-to-day operatkons of the fund Ivisitiry retired clergy to establish needl and the investment management and a volullteer bcM)kkeeper. IndKUon and tralnlw of newtrustees New trustees are provided wlth suitable do¢umentstlon upon tsklng up post to ensure a good knowledge of their responsibillties. All members take an approprfate part In the splrftual and prartlcal tasks Involved in the furtherance of the chafitable objective. Rlsk management The trustees have overall responslbillty for ensurlng that the Charity has an appropriate system of controls, flnancial and otherwise. They are also re5ponslble for safeguarding assets of the Charity and hence fortaking reasonable steps torthe prevention and detertion of fraud.and other Irregularltles, and to provide re4ssuiance that l. It'5 a55ets are safeguarded against unauthorised use or dlspositlon,. 2. Proper records are maintained and financial Infomiatlon used within the Charity ortor publlcatlon Is reliable: 3. The Chadty complies twlth relevant laws and regulatlon5. The trustees have made an assessment of the major risks facing the fund and are satlsfied that there are poltdes In place to mlnimise these risks. S)me key rfsks have been identifled as; . Ageing clergy: l)¥er the next 10 to 15 years the level of grant payments is experted to exed ordlnary Income and hence. the fund seeks to find altemative means to finance this long term gap. 2. Dlminishlng Investment retums: As one of the key sources of Income forthe fund Is dlvidend derlved from the Investment portfolbo. the economic dlmate lincludlng the parnlemic) is anotherarea to address. 3. Reputstlonal daroge: As another key source of income Is voluntary donations, the fund is mlndful of the effect that negatlve publicty can have on its avallabllity to fulfil Its oblertives.
N4wthem Brethren's Fund- Slnall Funds Report of theTrustees- continued for the year ended 30th June 2025 REFERENCE AND ADMINISTRATIVE DETAI(S Reosiwed (harfty Number 220722 Ptlndpal address St Robert of Newmlnster Oldgate Morpeth Northumberland NE61 IQF Trustees Rev. P Stott Rev. J. Angus Re¥. C. Warren Rev. P. t)outhwaite Independent examlner P.S. Hutchinson HarTi%)n Hutchinson Ltd 246 Parkwiew Whitley Bav Tyne and Wear NE26 3QX Appmved by the board of trustees on 10th April 2026 and siqned on its behalf by: Rev. P. Stott Page 3
NorthLYn Brethren's Fund- Small Funds Independent Examlnees Report to the Trustee5 of for theyear ended 31Xh June 2025 I rewrt to the charit¢s twstees on my examination of Northern Brethren's Funds- Small Funds (the Trnst) for the year ended 30th June 2025. Respon4bllftles and basis of report As the charity trustees of the Trust you are responsible forthe preparation of the account in at¢ordarKe with the requirements of the Charities Act 2011 rthe ACV). I report in respect of my examination of the Trusvs accounts carried out under Section 145 of the Art and in cavrying out my examination I have followed all appltcable Directions given by the Charity Commission under section 145{Sllbl of the acL Independent examlnerfs statement I have completed my examination. I confirm no material matters have come to my attention in connection with the examination giving me cause to believe that in any material wespect: accounting YecoTds were not kept In respect of the Trust as required by Section 130 of the Act; or the accounts do not accord those records; or the accounts do Mt comply with the applicable requirements concerning the fomi and ¢ontent of accounts set out in the Charities (Accounts and Reports) Regulation 2008 other than any requirernentthat the accounts give a tnje and fair vlew wthich is not a matter considered as part of an independent examinath)n. I have no concems and have come across no other nmtters in tonnectlon with the examination to which attention should be drawn in this report in orderto enable a proper understsnding of the accounts to be reached. P.S. Hutthinson Halson Hutchinson Ltd Chartered Accountants 246 Pavk W*w Whitley Bay Tyneand Wear NE26 3QX Page 4
Northern Brethren's Fund- Small Funds Ststement of Ananaal Actlviiles for the year ended 30th June 2025 2025 Unrestricted Restrlrted funds funds Total funds Total funds Notes INCOME AND ENDOWMENfs FROM Inve5tffleTht incorne Other income 9,421 25,376 9,421 25,376 8,988 120 Total 34.797 34,797 9.108 EXPE14DITURE ON Raising fund5 4.272 4,272 Netgains on investments 19.6501 {9,6501 39,697 NEfiNCOME 20.875 20,875 43.161 RECONaLIATION OF FUNDS Total funds brought forward 458,668 458.668 415,507 TOTAL FUND CARRIED FORWARD 479,543 479,543 458.668 The note5 ft)rm part of these financial statements Page5
Northem Brethr•nS Fund- Small Funds forthe yew ended Xmh June 2025 3J25 2024 386AOS 372.024 Cash at bank 93.063 87566 AUntsf•llin0 dué wtthin a year {3251 {9221 92.738 86.644 TOTALAS5Efs LESS (iIRRElff LIABILMES 479.543 458.668 479¥13 UnrÈstrirted knds R•strkted funds 479y3 458.668 Totsl Funds 479.543 458.668 The financlal statements were approv bythe Board of Trte*S and authorised for issue on 10th Aprtl 2026 aNI slgned on ivs behalf bv: Re4. P. Stott The note5forn) partof thesefinancbl statements Page 6
Northern Brethren's Fund- SnMII Funds rkns to the Hnandal Statements for the year ended 3(AhJune 2025 AccouNNG pouaES 8asls of preparlng the Ilnandal statements The financial ststements of the charity, which is a public benef•t entity under FRS 102. have been prepared in accordance with the Charities SORP (FRS 1021 'AttountiThg and reporting by Charitles: Ststernentof Recommended Practlte applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 2019),, Financial Reporting Standard 102 The Financial Reporting Stsndard applicable in the iIK and Republic of Ireland. and the Charities Act 2011. The financial statements have been prepared under the historic cost convention, vth the exception of investments which are included at market value. as modified by the Tevaluation of certain assets. Income All income is renised in the Statement of Financial Act•vitles once the charity has eTrtitlement to the fvnds. it is probablethat the income wlll be recelved and the amount Can be reliably measured. Expendlture Liabilitie5 are recognised as expenditure as soon as there is a legal or construrtive obligation committirE the charity to that expendIre, it 15 probable that a transfer of economic benefits will be required In settlementand the arnount of the obllgation can be measured reliab. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all t05t related to the category. Where costs cannot be directly attfibuted to particular headiw they have been allocated to activlties on a basi5 consistent with the use of resources. Taxaiion The charity is exempt from tsx on Its tharitable activities. Fund acCtIng Unrestricted funds Can be used in accordancewith the chèrltsble objectives at the disuetion of the tntees. Restrirted funds tan onty be used for particular restricted purposes within the objethes of the tharity. Restrictions arise when specified by the donor orwhen funds are raised for particular restrkted purposes. Further explanation of the nature and puwpose of each fund is included in the notes to the financial statements. Prfe7
Northern Brethren's Fund- Small Funds Notss to the Hnandal Statements- contlnued for theyear ended 3(*h June 2025 INVESTMENT INCOME 2025 2024 Dividends 9.421 8,988 TRUSTEES, REMUNERATION AND BENEFITS There were no trurtees, remuneration or other benefits for the year ended 30th June 2025 nor for the year ended 30th June 2024. There were no trustees, expenses paid for the year ended 30th June 2025 norfor the vear ended 30th June 2024. FIXED ASSEf INVESTMENTS Llsted Investments MARKET VALUE As at 1st July 2024 Additions Disposals Revaluations 372,024 72.128 147.7411 19.606) 386.805 At 30th June 2025 B(YOK VALUE At 30th June 2025 386,805 At30thJune 2024 372,024 There were no investment assets outside of the UK. The valuatlon of the listed investrnents are shown as Current market value in accounts. Historic costof the Ilsted investments is as follows; 2025 2024 Historic cost 303.568 279,179 Page 8
Northem Brethren's Fund. Small Funds Notes to the Flnandal Statements. c(xrtlnued for iheyew ended 31)ih June 2025 CREDITOR&" Amoupifs FALUNG DUE wmiiN ONE YEAR 2025 2024 Accruals and defetred income 325 922 MOVEMEHf IN FUNDS At tstjuly 2024 movement In fvnds At 30th June 2025 lknrestrkted funds General fvnd 458,668 20,875 479.543 TOTAL FUNDS 458,668 2075 479,543 Net movement in fund5, included In the above are as ft>llows; Incomln8 Resources Galns and Movement in funds Unrestricted funds General fund 9,421 9.421 14,2721 {4,272) 15,726 15.726 20.875 TOTAL FUNDS 20,875 C4Mnparatlve movementln funds Net At Istjuly 2023 mo¥ement In funds At 30th June 2024 Unrestrlrted funds General fund 415,507 415,507 43,161 43,161 458,668 458,668 TOTAL FUNDS Comparatlve net movement In fund5 for the ar ended 30th June 2024 Incomlng resources Resour expended Galns and losses Movement In funds Uniestrlcted fibnds General fund TOTAL FUNDS 9.108 9,108 f5.6441 15,644) 39.697 39,697 43,161 43.ffil Page 9
Northern Brethren's Fund- Small Funds Detsiied Slatement of Hnanclal Actlvltles lor theye¥ ended 30th June 2025 2025 2024 INCOME AND ENDOWMENrs Investment Income tidendS 9,421 Other Income Gain on sale of tsngible fixed assets Totsl incoming resources 25,376 120 34.797 9,108 EXPENDrtURE Support Costs Rnance Bank charges Governance costs Postage and stationery AGM meeting expenses Aceountancy ?nd advice fee5 376 354 3.909 5,262 5,638 4,263 Total resources expended NEf INCOME 4,272 30,526 Page 10
CHARITY COMMISSION FOR ENGLAND AND WALES Trustees. Annual Report for the period From 0110712024 Period stsrt dateTo 3010612025 Period end date Charity name". Northem Brethren's Fund - Small Funds Charity registration number 220722 Objectives and Activities SORP tefere Para 1.17 Summwy of the purposes of the charity 8s set out in its emin docum&nl Summary of the main aclivities in relation to those purposes for the pubfic in particular, the tivities, projects or SeiceS idenlsfied in the accounts. StatemeTrt confirming whether the trustees have had regard to the guidance issued by the Chanty Commission on pul benefft Pg1 Pa¥a 1.17 and 1.19 Pg1 Par8 1.18 Pg1 Additlonal Inforniation (optional) You ma choose to indude further statements wthere relevant about.. SORP re ence Policy on grant making Para 1.38 Policy on social inveslmeTrt induding program related investrnent P*a 1.38 Contribution made by volunteers Para 1.38 Other
Achievements and Performance SORP referw¢e Pg1 SUMM of the main achievements of the chariiy. idenbfying the differen the Charity's wotk has male to the circumstsnces of ils beneficiaries and any wider neffts to 80ciety as a P¥8 1.20 Additional Inforniation loptional) You ma choose to indude further 8tatements where relevant about.. Achievements against obj'ectives set P¥a 1.41 Perforrnan of fundraising aclivities against objectives Parn 1.41 Investment perfomiance Jainst obje(aives Pwo 1.41 Oiher
Financial Review Review of the chariiy's finanoal position at the end of the nod Statement explaining the icy for holding reserves statin are held Amount of reseNes hekl Reasons foi holding zero Details cl fund materially in deficit Explanation of any uncertaintss about the chafity continuing as a going Para 1.21 Pg1 Paro 122 Pg1 Para 122 Para 1.22 NIA Para 1.24 NIA Psra 123 NIA Additional infomiation (oplional) You ma choose to indude further statements where relevait about: The thaiity's principal SoUS of funds (induding any fundraising) Para 1.47 Investment pcAicy and obiecbves inctuding any social investment policy ayopted Pwa 1.46 A description of the prin(ap iisks facing the charity Para 1.46
structure, Governance and Management Desuiption of charity's twsts: Type of goveming document How is the charity constituted? Para 1 Pg2 Para 1.25 Pg2 Trustee seledion rrthods induding details of any conslitutional provisions e.g. election to post or name of any person or b)dy ented lo appoint one or more trustees Pg2 Addillonal inforniatlon (optlonal) You ma choose to indude further statements wher8 relevant aljout: Poli(aes and procedures adopted for the induction and training of trustees P¥a 1.51 The charitys organisatx)nal structure and any wider netsvork with vthich the ity w)tks Par8 1.51 Relationship with any reknd parties Para 1.51 Reference and Administrative detsils Charit name Other name the char Northem Breknpi's Fund uses Re istered charit Canon James Stark Trust number 220722 Chariiy s principal a(Idress St. Robert of Newminster Old Gate Morpeth Northumbertand NE61 1QF
Names of the charity trustees who manage the charlty Trustse name Dktss a¢ted if not tor vthol• y oirice (Ir any) N•nw of p•rson lor body) entitled to oint Rev. P. Stott Rev. J. Angus Rev C. Warren Rev. P. Douthwatle ifan 10 11 12 13 14 15 16 17 18 19 20 Cor orate tNste8s- names of the directors at the date the re Dlrpctor nam• rtvmsa roved Name of trustees holding title to property belonging to the charity Trustee name Dates acted rf not for vtholè ar
Funds held as custodian trustees on behalf of others DestPtIon of the assets held in this capacity Name and objects of the charity on whose tehaif the assets are held and how this falls within the custodian chanws obiects Details of arrangements for Safe custody and segregation of suth assets fr(xn the chaiity's own assets Additlonal Informatlon lopoonal) Names and addresses of advlseTS (Optional ink•mbatlon) of adviser Name Address Name of chlef execufjve or names of senior stsff membars (OpUonal Inforniation) Exemptlons from dlsclosure Reason for non-disdosure of ke etsonnel detatls Other o tional information
Declarations The tsustsos declare that they have approved the tru8te•s' rnport above. SIgMd on behalf of the charity's trusl8eS SIgnare{s) Full namels) Position (eg Secretary, Chair. Reverend Peter Stott Trustee 10104126