Charity numbèr. 227044
NORTHUMBERLAND AGED MINEWORKERS, HOMES ASSOCIATION
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

NORTHUMBERLAND AGED MINEWORKERS, HOMES ASSOCIATION
CONTENTS
Page
R￿erence and admini8trative dètail8 of th• Charity. It8 Trusta08 and advi80rn
Truste￿, report
Indepondont audltor8' report on tho finaneial 8tat8ment8
8-11
statemant of flnanelal actlvltlès
12
Balance •hoOt
13-14
Statement of cash flow8
15
Not08 to the flnanclal 8tat¢m¢nt8
16-36

NORTHUNIBERLAND AGED MINEWORKERS. HOMES ASSOCIATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2024
Tru8tèè8
Mr G E wil￿n, Chair
Mr l Lavery MP, Treasurer
Mr J P888e, Secretary
Mr M Fillon
Mr H Gallacher
MrJ J Gobin
Mr G E Graham
Mr N Partl8 (deceased 24 December 2024}
MrA G Sambrook
Charity ragi#t•rnd numbèr
227044
Prlnclpal offlco
7 Esther Court
Wansbeck Bu8lng88 Park
A8hlnglon
Northumberland
NE63 8AP
Ind•p•ndont audltorn
Kinn#ir Assoclales Llmited
Charterod Accountants
Reglstered Auditors
Aston House
R￿bUrn Road
Newcasllo upon Tyng
NE5 1NB
Bank•r8
Unlty Trust plc
FoLJr Brindley Place
Bimiingham
812JB
SollcltOf8
Browell Smith & Co Sollcltors
Unit 4244
Apex Business Villoge
Annilsford
Cramlinglon
Northumberland
NE23 78F
Page 1

NORTHUMBERLAND AGED MINEWORKERS. HOMES ASSOCIATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
{CONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2024
Investmgnt advlsers
Brewin Dolphin
Tlme Central
32 Gallowgate
Newcasue upon Tyn6
NE14SR
Page 2

NORTHUMBERLAND AGED MINEWORKERS. HOMES ASSOCIATION
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees pr88enl their annual report together with the audited financial slalements of th& Charity for the
year from 1 January 2024 to 31 December 2024.
The financial slalements hav8 been prepared In accordanc6 Wth the acwunting policies 8et out in the notes to
the financial 8lalements and comply with the Chgrily's governing document, the Charilles Act 2011 and the
relevant version of the Statement of Recommonded Practice applicable lo charities preparing their financial
stalam8nls in a¢¢ordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland
IFRS 102}.
Objo¢tives and activiti98
PolScl08 and obJoctlvo8
The objectives of the Association shall be to provide and maintain homes, assoclaled seNices and facilities for
the accommodation of the residents. Re8ldenl8 shall be person8 over th8 age of 59 wh¢ have been employed
In or about a coal mlné In the area of Northumberlgnd and the wldows of such persons.
In so far a6 the h¢mo$ ar• not requlred for ro$ld&nt$ havlng those quallfications, they may be used for the
accommodallon of persons over the age of 59 who have been employed in or about a coal mine elsewhere, or
the widows of such persons, or other per80n8, who through ag9, infirmity or economic circumstances have need
of such accommodation.
The As8oclallon may provlde land and buildings lo be Set a81de as homes for reslden18 and may provlde
additional 60Nl¢$s and faclllll68 for the benaflt of regldenls.
The origlnal alms and oblecllves were superseded by revlsed rules adopled by the Asso¢latSon on 1 December
1992 and a new sel of rul&s wgro adoplgd on 21 November 2022.
In 8ettlng objectives and planning for 9¢1ivilie$, the Trustees have glv8n due considerallon to general guidance
publlshed by the Charlly Commi55i0n relating lo publi¢ benefit, inGlurJing the guidance'Public b&nefil.' running a
¢harily {PB2)'.
Achlevements and porforniance
• Rovlèw of actlvltle6
R8nt Incomlng remains al stsady flow of unregtricled funds, monthly or four w8gkly from new and ex15tSng
t•nants.
External fen¢ing has been renewed around the perimeter of 86veral 8treel&
Damp work has continued wlh loft units being fitted lo all properties durlng refurblshmenls.
19 replacement wmbi boiler8 have kogn flttèd.
• Investment policy and perfomiancè
The investments held by the Trustees have hi$lorically been gifted to the Assoclalion. The Trustees, policy has
been to leave the investments until the cash is required.
Page 3

NORTHUMBERLAND AGED MINEWORKERS. HOMES ASSOCIATION
TRUSTEES. REPORT {CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2024
Flnanclal rnvlew
• Golng concem
The Trustees have a reasonable expectallon that the Charity has adequate ￿soUrceS to contlnu8 In operational
existence for the foreseeable future. For this reason they conllnue lo adopt a going concem basis in preparlng
the flnanclal slat8menls. Further details can b8 found in the accounting policie5.
Reserves pollcy
Tho general reserves ar8 Teviewed annually, including an a$8e8sment of expenditure and commitments ol
r88eNe8.
The Tru$le8s propose that the Charity should hold goneral reserves equivalent to approxlmately 12 week8
general expendllure in order to provide sufficient working capital lo provlde a cu8hlon to deal wlth unexp6cl6d
emergencies.
In ord&r lo clèarly Idenllfy th8 gènéral r8g&NéS ovall8ble to the Charity, Ihg Trustees have dg819n818d fund8 10
an equivalgnl value of th$ fixed assols hold as these funds cannot be realised wllhout 8elllng assets which are
U8ed by the Charity. The r8mainlng general fund8 are in deficit., The Tru8t8&8 will b8 making informèd decl$ion$
golng forward, lo in¢re88e the general lunds and monitor Ir8nsaction$ ¢grefully. They wlll also monllor progress
on exlsling and new prolec18 requlrlng altentlon. The solar panèl 108n 18 reviewed bi-annually to asse$8
progress.
• Flnanclal overrflgw
The principal funding source for the Charlly conllnues to be the malnlenance conlrlbullon pald by the re8ldents.
The charge Is revlgwgd annually lo en$uro that il conllnue$ lo b6 adèquat8 lo meèt the oblacllvè8 of th8
Associatlon. The contributions received in the year wero £1,291,82012023,' £1,244,706).
Total Incomlng fesovr¢és 1ncreaged from £1,397,14S to £1,4SO,734 and the Charity'8 lolal exp8ndilure
increased from £1,411,712 10 £1,649,142. Net outgoing resourcgs before investmènt, revaluallon and penslon
gains or Ios8ès a8 reF<Jrted In the Slatem8nt of financial aGlivilies £198,408 {2023.' nel oulgrjing re80urce8
of £14,567).
Nel gains on investments amount8d to £20,752 12023.. galns 230,341} and the actuari81 loss wa8 £98,000
12023.. octuarial10ss £114,000) resulting in n81 d8craase in funds of £273,65S12023', decrease of £98,226).
Total funds carrled forward decreased frorn £33,460,145 to £33,186,489. A bre8kdown of the Cha"lty'8 reserves
¢an be found In note 22 to the financial statements. The balance on the unr8slricled general fund ha8
decrea8ed from a positive balance of £23,150 al 3111212023 to a deficit b8lanco of £93,827.
Wo do not anticipala any shortage of polentlal applicant$, for the cottages. as the mainlgnance contributions
are currently subslanli?Ily lower than comparablo social housing or private renta15 In the area.
Page 4

NORTHUM8ERLAND AGED PJIINEWORKERS. HOMES ASSOCIATION
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
• Prlnclpal rlsks and unc8rtalntle8
The Trustees confirm that the major risks to which the Charity is exposed have been ￿VieWed and systems are
in the pro¢$ss of being pul in pla￿ to mitigate those rid(s.
The principal risk of the Charity 18 that demand for the properties by eligible tenants could wane with demlse of
the coal industry in Northumberland. However, at present, the waiting lists for each group of collages do not
Indicate any problèm for the forese&abl8 future.
• Financial risk manag9mgnt objoclive8 and polic[08
Th8 Tru8tee8 perform an annual revlew of the rl8k8 faclng the Charfly. the eslabllshment of system$ and
prooedures to mlllgale Identifiable risks and the implementa11on of prtxedures design8d lo minimise any
potential Smpacl on tho Charity should ony of the$8 risk$ materiall88.
Structure, govornAnce and management
Con8titutlon
Northumber18nd Aged Mineworker8' Homes As8ociallon INAMHAI18 a registered charity, number 227044, and
Is conslilulod undèr a Trust deed.
NAMHA was fomed In 1900 and was governed by its r&viÈèd byè law8 datèd 1 December 1992 unlll a new Set
of ru18s were adopted on 21 st November 2022. Thg Charity is also a member of the Nation81 Assoclallon of
m6hou$o$ Inumbar 17991.
Over the year8 th8 Assoclalion ha8 taken over a number of Similar charlllgs, somo of which ramoin registèred
with I￿1h the Charlty Commission as subsldlarles of NAMHA. These subsidiary charltlgs are completely
absorbed Into the management and admini*r81ive 8lruclur8 of NAMHA and do not prepare occounts in thelr
owr right.
• Mgthods of appolntment or electlon of Tru8tee$
Any vac8ncy on the Board of Truslees18 fllled in lin8 with the current rul98 of lh6 A8s0clatlon.
Organlsatlonal stru¢turn and declslonqnaklng pollcle8
The Association Is managed by a Board of Trustee¥ 95eGled in line with the rul8s of the Association.
Co-opted members are selectsd by the 808Td for their professional expertlse In their own particular field arKI
allend m881ings in an advisory capacity and are not involved in policy making decision8.
Th8re are at lea81 four meetings per annum of the full Board of Tru$lè88 when all major poliGy decisions are
made. Wher8 necessary, additional speeial meetlngs of the full board are convened. In addition, various sub-
committees fomulale new pollcy and make recommendations lo the full Board.
Thg day to dgy management of the Charoly is delegated by the Charity's Trustees lo the manager who ¢2n be
contacted at the registered ¢ffice as shown on page one.
Page 5

NORTHUMBERLAND AGED MINEWORKERS, HOMES ASSOCIATION
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2024
structure, governance and management (contlnued)
• Poli¢i•s adopted for tho indu¢tion and training of Tru8t808
New Trustees attend an induction meellng with the Chairman, Honorary President and TreasU￿r whare they
are made aware of the aim8 and object8 of the A880ciallon. Any specialist Irainlng which may be required Is
provided by an approprfale member of staff.
Pay poll¢y for koy managemènt pèr80nn•l
Remuneration for key management per8onn81 Is reviewed on an annltal ba$ls based on a fomial apprai8al
System.
Plans for future porlod6
Street of 10 cottage8, to hav8 r8ptacemenl windows fitted.
Exlornal yard wa118 to be replaced or repaired where needed,
Ichens to b8 r6pla¢ed In oc¢upled ¢ottsge8 If requlred.
One of the Charity's properties was vacated durlng 2024 8nd sold In 2025 818 profil. Tho Trustè¢$ Intènd that
the proceeds wlll.be sponl on Improving the ￿ma[n￿ng houslng stock.
Stat•mont of TrUSt￿B, responslbllltle8
Tho Tru8tee8 are responslble for prep8rSng the Tru8tee8' report and th8 finan¢lal $iatemenls In accordance with
applicabl& 18W and United Klngdom A¢¢ounting Standard8 (United Kingdom Generally Accepted A¢counllng
Praclicèl.
The law applicable lo charities in England & Wales requlres the Trusl88s lo prepare financial 8lalemgnls for
each financial which glve a true and fair view of the Stale of affairs ol the Charity and of Ils incoming resource8
and application of resource8, including Ils incomè and expendllure, for that period. In pr8paring these flnancl81
slatem8nl8, the Trustées are required to..
select 5uitsble accounting policies and then apply them con8islenlly-,
obs8rve thp methods and prineiples of the Charities SORP IFRS 1021.,
make judgment$ and accounting estimates that are r&asonAblo and pwdent.,
slate whether gpplicable UK Accounting Standards IFRS 1021 hav8 been followed, Subject to ony
material departures disGIo8ed and explained in th8 financlal state￿ents.,
prepare the financial 81alemenls on thè golng concem b88is unless il is in8ppropriate lo presumè Ihal the
Charity will ¢onb'nue In busin8SS.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
thé Charity's transactions and disclose with reasonable 8ccuracy al any lima the flnancial position of the Charity
and enable them lo ensure that the financial statements comply with the Charilios Act 2011, the Charity
(Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for
safaguarding the assets of the Charity and hence for taking reasonable sleps for the prev8nlion and detection
of fraud and other irregularities.
Page 6

NORTHUMBERL4ND AGED MINEWORKERS, HOMES ASSOCIATION
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENOED 31 DECEMBER 2024
Disclosure of Infomiation to audltoro
Each of the persons who are Tru81eè8 at the time when thls Trustees, report is approved ha8 confim)ed that..
so far as that Truste8 Is aware, there 15 no relevant audit information of whlch tho ¢harlty's audltors are
unaware, and
that Trustee has taken all the steps that ought to hav8 been taken as a Trustee In order lo bo aware of
any relevant 8udit infomation and to èstablish that the charity's auLlilors are aware of that Information.
Audltorn
The auditors, KlnnaSr A8SOClates Llmlled, have Indicated their willingness lo ¢onllnue In office. The deslgnated
Tru8te8s will propose a motion reappointing the auditors at a me8ling of the Trustees.
Approved by order ol the memb8r8 of the bof*d of Trust888 on 30 October 2025 and slgned on Ihelr behalf by..
MrG EWIIBon
P4e7

NORTHUMBERLAND AGED MINEWORKERS. HOMES ASSOCIATION
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF NORTHUMBERLAND AGED
MINEWORKERS. HOMES ASSOCIATION
Opinion
We hav8 audited the financial 81alemenl$ of Northumberland Aged Mineworkers, Homes Associ81ion {the
'Charily'l for the year ended 31 December 2024 ￿1th comprise the sl8lem8nt of financlal 8cllvities. the
Balance sheet, the Slalement of cash flows and the related notes. including a summary of significant
accounting policies. Th8 financial reporting framework that has been applied in their proparalion i¥ applicab18
law and United Kingdom AG¢gunling Standards, including Financial Reporting Standard 102 'The Flnancial
Reporting Standard applicable in the UK and Republic of Ireland, Iunlled Klngdom Generally Accepted
Accounting PracliGel.
The financial 81818menl8 have been prepared in accordanGe wth Ac¢ounllng and Roportlng by Charllies
preparing Ih¢lr accounts In accordance with the Financial Repartlng Standards applicable in the UK and
Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Ch8rities.' Statement of
Recommended PraGIIGe l$$ued on 1 April 2005 whlch is referred lo In the extsnl regulation8 but has bean
withdrawn.
Thls ha¥ been done In order for the accounts lo provlde 8 true and fair vlew In ac¢ordance wilh the Gon$rally
Accepted Accountlng Practice etffeollve for reportlng periodo beglnnlng on or after 1 JanLtary 2015.
In our opinion Ihe flnanclal 8talemenl$'.
glve a tru¢ and fair vSew of the slate of the Charity'8 affalrs a8 at 31 December 2024 and of its incoming
resources and appllcation of resourcos for the year then ended.,
have been properly prepared In accordan¢e wllh Unlted Kingdom Generally A¢ceplgd Accounting
Practlc8,' and
have been preppr8d In accordance wlth the requlrements of the Chartlles Act 2011.
Ba&1¥ for oplnlon
We ¢onducled our audlt in accordan¢6 ￿th International Standards Dn Auditing IUKI IISAS IUKII and
applicable law. Our re$ponsibS1I1ie8 under thos& standards are further de8crib9d in th6 Audllor8' responsibililie8
for the 8udit of the financiol slalemenls section of our report. Wo are Independent of the charity in accordance
with the ethical requlremenls that are relevant lo our audit of the finan¢ial slalements in the Unil&d Kingdom,
Including the Financial Reporting Council's Elhicol Standard, and we have fulfilled our other ethical
responsibilities in accordance wlh these requirements. We b81ieve that the audit evldence we have obtained 18
3uffiGienl and appropriate to providg a ba818 for our opinion.
Con¢lu8lons r•latlng to 9olng ¢one8rn
In auditing the flnancial $lalements, w8 have concluded that the Trustees, use of the going concem basig of
ac¢ounling in thè prèparation of the financial slalements is appropriate.
Based on the work we have performed, we have not idenlifled any material uncertainti68 relating to events or
conditions that, individually or collectively, may cast significant doubt on the charity's ability lo continue as a
going concem for a period of al least twelve months from when the financial slalements are aulhori8ed for
Issue.
Our responsibilities and the responsibilitles of the Tru8tee8 With rgspeet to going COn￿M are described in the
relevant sectio￿$ of this report.
Page 8

NORTHUMBERLAND AGED MINEWORKERS, HOMES ASSOCIATION
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF NORTHUMBERLAND AGED
MINEWORKERS, HOMES ASSOCIATION ICONTINUEDI
othor inbrmation
The other infomiation comprises the information included in the Annual report other than the financi81
statements and our Auditor8, report thereon. The Trustees are rèsponslbl6 for th• other information contained
within the Annual report. Our opinion Dn the financial statements does not cover the other information and,
except lo the exlenl olherwlse explicitly slated in our report, we do not expre88 any fomi of assurance
conclusion Ihereon. Our responsibility 18 to read the other information and, in doing 80. con8Ider whether the
other Informatlon Is malerlally Inconslstenl wlth the financial slalemen18 or our knowledge tsblained In thè
urse of tho audit, or olharwise appears lo be materially mis8tated. If wo identify such malerial inGonsislenGies
or apparent material mlsslalemenls, we are requlred lo delermlne whether thi5 gives rise lo a material
misslalement in the fSnan¢ial $lalemenls th&mselvas. If, basèd on the work we have performed, wo conclude
that there is a material misslatemenl of this other information, we are requlred to report that faGI.
We have nolhlng to report In this regard.
Mattor8 on whlch we are requlrod to report by oXCèPtlon
We have nothlng lo report In rosp8GI of th• followlng maller8 whèrè thé Ch8rlll68 (Accounts and Report81
Regulallons 2008 requires U8 to report to you If, In our oplnlon..
the inforynalion glven in th• Tru8ta8s' r&port 18 Incon818tent In any matertal respect the flnanclal
statements., or
8ufflclenl accounting records have not begn kgpl. or
the financlal statements ar8 not in agreemonl wllh the accounllng records and return4 or
Wg havè not r8e8lved all the Informatlon and explanations wo requlrg for our audlt.
Rv8pon8lbllltle8 of tru8tee8
As explalnod more fully In the Tru81ees' responslbllllies olatement, the Truste￿ are responsiblg for the
preparation of the financial slalements whlch glvg a tru6 and fair vlew, and for such intemal control as the
Trustees delernilnÈ is n&ce5sary to enable the preparation of finan¢ial slalem8nls that are free from material
mlsslatement. whether duo lo fraud or error.
In preparing th8 flnanclal stal8m8nls. the Trustees are responsible for assesoing Ihg charlty'8 ablllty to continue
as a golng conc&rn, disclosing, a8 applicable, mallers related to going concern and using the going concem
basis of accounting unles5 the Tru$lee8 elther inlend to liquidate the Gharity or lo cease operations, or have no
realistic allernalive but to do so.
Page 9

NORTHUMBERLAND AGED MINEWORKERS, HOMES ASSOCIATION
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF NORTHUMBERLAND AGED
MINEWORKERS. HOMES ASSOCIATION {CONTINUEDI
Auditors. r88pon8ibilities for thg audSt of th• linancial 8tat8ments
We have been appolnled as auditor under section 144 of th8 Charitle8 A¢1 2011 and report In accordance with
the Act and relevant regulations made or having effect Ihereunder.
Our objectives are lo oblaln reasonable 88gurance 8bout whether the flnanclal statements as a whole are fre8
from malarial misslalemenl. whether due lo fraud or error, and to issue an Auditors, report that includes our
opinion. R@8sonable assurance is a high level of assurance, bul Is not a guarante& that an audit conducted In
accordance with ISAS (UK} will always detect a materlal misstatement when it exists. Misslat8menls Can ari8e
from fraud or error and aR ¢onsidered material if. individually or in the aggregate, they could reasonably be
expected to influenGe the economic decisions of usèrs taken on the basi8 of Ihe¥e financial slatemenls.
Irregular11168, inoluding fraud, are in8lan¢es of non-compliance with laws and regulations, We design
proGedures In line wlh our responslbililles, outlined above, lo delecl material misstalemenls in rèspe¢t of
irrogularilies, including fraud. The extent lo which our procedures ar6 capable Df detecting irregularllles,
including fraud18 detalled below.
the engagement partner ensured that th8 èngag•menl team collectively had tho appropri81e
competence. c8pabilitSe$ atKI $ki118 lo Identify or recogni88 non40mpli8nce with appll¢able18W8 and
regulallons.,
we idgnllfied Ihg laws and regulations 8pplicable lo the Charity through dlscu881on8 wlth TrU0t￿6 and
other management, and from our commerelal kn¢)wledge and experience of the sector.,
we focused on speclflc laws and ￿gulationS which we consider may have a direct material offocl on the
flnanclal 8latemen18 or the operallons of the Charlly, includlng the Chariti¢$ AGI 2011 el seq., the
Charities {Proleclion and Social Inveslmenll Act 2016. the Trustees knt6 1925 and 2000 and Charlly
Commission regu181ion$'
we assessed the extent of compliancè with tho laws and regulallons Identlfled 8bov8 through maklng
enquirie$ of manogement and inspecting legal correspondence., and
wo ensured that tho identified laws and regulations were communlealed wllhln the audit lagm regularly
and the team remalned alert lo Sn81ance8 of non-¢oMplian¢e throughout the audit.
We 888es8od the 8U8ceplibllity of the Ch8rily'8 financial 8tatements to materlal m1881atement, Including
obtalnlng an understanding of how fraud mlghl occur, by..
maklng $nquiriès of managèment as lo where Ih6y consider8d Ih8rg w8$ su8ceplibilily to fraud and thglr
knowledge of actual, suspected and alleged fraud,. and
on5idering the internal ¢onlrols In pla¢e to mlligale rl$k$ of fraud and non<omplianGe with la￿ and
regulations.
To address the risk of ffaud through managoment bias and override of Gonlrols, we.. -
performed analytical procedur68 to identify any unusual or unexpected relalion8hips.,
lesled journal entries lo identify unusual transactions., and
assessed whether judgemen18 and assumptions made in determining the accLwnting eslimales set out In
the not8s lo the financial statements are indicative of potential bia8.
In response lo the rlsk of irregularfties and non-compliance wllh laws and regulations, we designed procedures
which include, bul ore not limited to.. -
agreeing financial statement disclosures to underfylng supporting dctumentslion..
reading the minut8$ of meetings of those charged wth govemance..
enquiring of management as lo actual and potential litigation and claim& and
eviewing correspondence with HMRC, relevant regulators and the Charlty's legal advisors.
Page 10

NORTHUMBERLAND AGED MINEWORKERS, HOMES ASSOCIATION
INDEPENDENT AUDITORS. REPORT TO THE MEldlBERS OF NORTHUMBERLAND AGED
MINEWORKERS. HOMES ASSOCIATION (CONTINUED)
There are inherent limitations in our anlicipaled audit procedures des¢xibed above. The more removed that
laws and regulations are from financial transactions, the less likely il is that we would become aware of non-
compliance, Auditin9 Standards also limit the audit procadures required to id&ntify non4omplianee with law8
and regulations lo enqulry of the Trustees arKI other management and the Inspecllon of regulatory and legal
correspondence, if any.
Material mi88talem8nts that arise due lo fraud can be harder to detscl than th0$8 that arise from 8rror a5 they
may involve deliberate concealment or collusion.
A further description of our responslbllllles for the audll of the fln8nGlal 3tstemenls 1$ located on the Fln8nci81
Reporting Council's website al..
orsr8s
onsibilili8s, This déscription form$ part of our
Audilor6' r&port.
U8e of our roport
Th18 report is made solely lo thg Ch8rily'8 Tru8tees, a8 a body. In accordance with Part 4 of the Charities
(Accounts and R8POrt81 Regu181ions 2008. Our audit work ha¥ been undertaken so that wa might slate lo the
Charity's TrLt81888 th08e matters we are requirod lo $l*t$ to them In an Audltor8' report and for no other
purpose. To the fullest extent permitted by law. we do not a¢¢epl or assume responsibillty lo anyone other than
the Charity and its Trust¢es, a8 a body, for our audit work, for Ihls report, or for the oplnlon8 we have formed.
Klnnalr A88oclates Llrnltèd
Chartered Accountan18
Regi$loréd AudSlors
Aston House
Redburn Road
Newca811e upon Tyne
NE5 1NB
30 October 2025
Klnnalr Associates Limited are eliglble to act as auditors In terms of section 1212 of the Companles A¢1 2006.
Page 11

NORTHUMBERLAND AGED MINEWORKERS. HOMES ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrestrfcted
lunds
2024
Total
funds
2024
rotsl
funds
2023
Note
Incomè from:
Donations and legacies
Charitable activities
Other trading aclivllie8
Inv8slmenls
100
1,244, 706
83,523
68.816
1,291,820
82,214
76,678
1,291,820
82,214
76.876
Total Income
1,460,734
1,460,734
1,397,145
Expondlture on:
Ralslng funds
Ch8rllgblg acllville8
80,887
1,568,48S
80,667
1,668,486
88.886
1,322,826
10
Total expondlture
1,849,142
1,649,142
1,411,712
Net l•xpgndlturolllncomo bofora net galn8 on
Inve8tments
Net galn8 on inve8tsrenls
Not movomont In fundB before othor re¢ognlg•d
galnslllossg81
1198,408)
20,752
1198,4081
20,762
(14,567J
30,34t
1177,666)
1177,666}
15, 774
Other ro¢ognlB•d galn81110s$981:
Actuarial losses on dèllned benefll pendon schemes
27
196,000)
196.0001
(114,000)
Not movomont In funds
{273,6581
1273,856)
(98,226J
R•eonclllatlon of fundB:
Total fund$ bToughl forward
Net movamenl In funds
33,460,146
{273,66el
33,460,146
1273.666)
33,558,371
(98,226J
Total funds ¢arried fonvard
33,186,489
33,186,489
33,460, 145
The Slalement of fingnclal acllvltle8 Includes all gain$ 8nd108888 recognised in the year.
The notes on wes 16 to 36 fom part of these financlal slatemenls.
Page 12

NORTHUM8ERLAND AGED MINEWORKERS. HOMES ASSOCIATION
BALANCE SHEET
AS AT 31 OECEPJIBER 2024
2024
2023
Flxed assets
Tangible a86ets
Investments
15
16
33,280,316
381,444
33,436,995
362,277
33,661,760
33, 799,272
Curront assets
Stocks
Debtors
Ca8h al bank and In hand
17
18
9,523
259,228
876,456
15,516
251.835
855,007
945,207
1,122,358
Current IlabllltlgB
Creditors.. amounts falllng du8 wllhln ono
year
19
1318.646}
(247,363)
Net curront assets
826,662
874.995
Total as8et81888 ¢urront Ilabllltl¢s
34,288,422
34,674,267
Creditors.. amounts falllng duè after more
than one year
20
11,101.933)
(1,214, 122)
Not 488Ot8 excludlng pon8lon 48SOt
33,186,489
33,460, 145
Total net a88ets
33,186,489
33,460. 145
Page 13

NORTHUMBERLAND AGED MINEWORKERS, HOMES ASSOCIATION
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
2024
2023
Charlty funds
Unrestricted funds
22
33.186.489
33,460,145
Total fund8
33.186.489
33,460, 145
The finanGial slalements were approved and aulhorl8ed for Issua by tha Trustees on 30 October 2025 and
gngd on their behalf by..
Pjir G E Wll8on
MrJ P8080
The note8 on pages 18 to 38 fom part of thes8 flnanclal 81alements.
Page 14

NORTHUMBERLAND AGED MINEWORKERS. HOMES ASSOCIATION
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
Cash flow8 from operatlng actlvltSeg
Nel cash u8èd in operating activilles
173,985)
117,127
Cash flows from Investlng actlvStlo9
Dividends. interests and rents from investments
Proceeds from the sale of tangible fixed assets
Purchase of tangible flxed assets
Proceeds from th9 sale of investments
Pur¢hase of Inv081ments
75,176
5,900
128,8261
17.657
115,9721
68,816
24,581
(23,051)
Net cash provldod by Inve8tlng actlvltl88
53,836
70,346
Cash flow$ from flnanclng actlvltlos
Repayments of bOrr￿n95
Interest paid
1112.1891 (112, 189)
146,2131
(49,419)
Net cash u88d In flnanclng actlvltle8
1158,4021 1161,6081
Chonge In ¢a$h and cash oqulvalents In th• y••r
Cash and ¢atsh equlvalents al the beginning of the yoar
1178.5511
855.007
26.885
829,142
Cash and cash equlvalents at tho end of tho yo•r
676,458
855,007
The notès on page8 16 10 36 form part of thes9 financlal statements
Page 15

NORTHUMBERLAND AGED MINEWORKERS. HOMES ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
G8n•ral informatlon
The Northumberland Aged Mineworker8' Homes Associallon is a ragi$lered charity, number 227044. The
Charity is unincorporated and Its reglslefed office is 7 Esther Court, Wansbeck Business Park,
Ashinglon, NE63 8AP.
The flnanclal stalèmenls are prepared in slerllng whlGh is the functional currency of the Charlty.
Monetary amount$ in these financlal stalem8nls aré rounded lo the neare81 £.
Accountlng pollcles
2.1 Ba81$ of proparatlon of flnanclal stst•monts
The financial slalements have b$en prepared in accordance wllh th6 relwanl verslon of the
Statement of Recommended Pracllce applicable lo charities prepgring their financial slalemenls In
accordance with the Finon¢io1 Reporting Standard appllcable In th8 UK and Republic of Iraland
{FRS 102) and the Financlal Reporting Standard appllcable in the UK and Republic of Ireland IFRS
1021 and the Charilit$ A¢1 2011 and UK Generally Accepted A¢Gounling Praclico.
The flnanGlal statements have been prepared to glve a 'lrue and fair, view and have departed from
the Charilles (Accounts and Reports) Regulations 2008 only lo the exlenl required to provide 8 'tnJ&
and f21rf vlew. Thls departure has involved following the Charities SORP IFRS 1021 published In
October 2019 rather than the Accounllng and Reportlng by Charllles.. Statement of Recommended
Practice effecllve from 1 Aprll 2005 which h85 $lncg been wllhdrawn.
Northumberland Aged Mlneworkers, Hom&s AsBoclgtSon meets the deflnltlon of a public b8n$flt
6nlily under FRS 102. Assèts and liabillliès ore initially rgcogni8ed al hlstorlcal cost or tran89clion
value unless olherwi¥e ststed in the relevant accounting policy.
2.2 Golng concom
The Trusteas 888&88 wh8lher the use of going concern is appropriate i.e. whether there ere gny
material uncertalnlles related to events or condltlons that may ca81 slgnlfieanl doubl on the ability of
the charitable trust to continue os a going cDnGem. The Trustees make this a￿eSSment in respeGI of
period of at least one year from the dale of authorisalion for is8ue of the financial ststemenls and
have concluded Ihal the charitable Irusl has adequate resour￿5 to continue in operalionsl exi81ence
for the foreseeable future and there are no material uncertainties about the Chorily's ability lo
continug as a going concem, thus they contlnue lo adopt the golng concern ba8is of accountlng in
preparing the flnanclal statements.
2.3 Income
All income 18 recogni8ed once the Charity has enlillemenl lo the income, It 1$ prtsbabla that the
income will be received and the arnounl of income receivablè oan bè mèasured relSably.
Maintenance contributions are recorded on an accruals basis representing th& amounts due wllhln
th8 year and invoiced In the year.
Page 16

NORTHUMBERLAND AGED MINEWORKERS, HOMES ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng pollcles {contlnuod}
2.4 Expendlture
Expenditure is recognlsed once there 18 a legal or ¢on$lruclive obligation to transfer economic
benefit to a third party, it is probable that a transfer of economic benefits will be requlred In
settlement and the amount of the obligation can be measured reliably. Expenditurè is clas8lfied by
aclivily. The costs of each activity are made up of the lolal of direct c08t8 and shared c051s,
includlng support costs Snvolved In undertaklng each acllvlty. Dlrecl costs atlrSbutabl6 to a singl&
activity are allocated diiectly lo that activity.
Expèndllure on ralslng funds includes all expendllur& Incurred by th& Charity to raise funds for its
charitable purposes and InGlude¥ costs of all fundraislng aGllvilles events and non.charitable trading.
Expendllure on charitable aclivitie818 Incurred on directly undgrtaklng the activltS88 whS¢h further the
Charity's ¢ble¢llv&¥, a$ w811 a$ any a$$oclabd Support ¢081$.
All expendllure Is incluslve of irrecoverable VAT.
2.6 Intgr•8t r•colv8bl•
Intere81 on funds héld on d&posll Is Included when recelvable and the amount can be mea8ured
reliably by tho Charity,. Ihls is normally upon nolifie8lion of the Inl8resl pald or payable by the
In8111ullon with whom the funds are deposlled.
2.6 T•xatlon
The Charity 1$ wnsldered lo pass the te8t8 Sgt out In Paragraph 1 Schedule 6 of the Flnanc• Act
2D10 and therefore it me•l$ the dèflnitlon of a Charity for UK corporation lax purposes. Accordingly,
the Charity 18 potentially exempl from taxation In respect of incom8 or capllal galn8 recelved wllhln
celegoriès covered by Chapter 3 Pert 11 of the Corporation Tax Act 2010 or Secllon 258 of the
T8X81ion of Chorgeable G8in8 Act 1992, to th9 exlenl that $u¢h Incom8 or galns are applied
exclusively lo ¢haritable purposes.
2.7 Tangibl8 fixèd a88ets and d•prnclatlon
Tangible flxed assels costlng £250 or more are capitslised and re¢ognlserJ when future economlc
benef118 are probable and the cost or value of the asset can be measur8d reliably.
Tanglblè flx8d assets are Initially rgcognised 01 Cost, Incluslve of irrecoverable Value Added Tax
ex￿p1 where assets We￿ eapllallsed 80me lime 8fl8r being acquired and no reliablg c05t
information was avallable, in whith CO￿ a reasonable e81imatg of th8 assét's value lo the Charity
was used.
Donated a88ets are capitalised al their estimated useful value al th& tlme of the gift.
Freehold houslng properties were valued at Ihelr falr value on Iransllion to FRS 102 lo establish
their'deemed cost" Leasehold housing properli@s were revalued in 2018 and are being depreclaled
over the length of th8 leases.
The freehold depot is slated at fair value and is not depreciatéd.
Page 17

NORTHUMBERLAND AGED MINE1￿RKERs. HOMES ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policle8 {contlnugd)
2.7 Tanglble flxod a88Ot8 and d¢preclatlon Icontlnu•dl
Depreciation is provided on all other tangible flxed assets 80 as to allocat8 th8 cost of tangible fixed
assets less their resldual valua ovar Ihelr esllmaled useful live8,
D8precialion 18 provided on the following ba89&
Lea88hold Hou$1ng propgrty
Plant and equipment
Leasehold d8POt
Vehicles and equlpmenl
Solar pane18
straight line over length of lease
15% per annum reduclng balanc8
Slraighl Iln8 over 50 years
25% per annum slraighl Iln6
5% per annum Slraighl Ilne
Thè Asgèl8' r8sldual valuès, usèful liv•g 8nd depreciation method8 are reviewed, and adjusted
prospectively if appropriate, or If there 18 an Indication of a sgnificanl change sSnce the last
reporting dale.
2.8 Inve8tn79nts
Flxed 888et inve81ments are a form of fln8nclal In8trument and are Inlllally recogn18ed 8t Ihelr
IranE8clion cost and Subsequently measured al falr value al the Balance sheet dale, unless the
v#lu6 cannot b8 measured reliably In whlch case It is measured at cost lesg Impalrment. Investment
gains and10¥5g$, whether ￿alIsed Or untsg1i$èd, ore comblned and pr8sènled as'GalnsllLossesl on
Inveslmenls, in the Slalemenl of fin8ncial acllvitles.
Inve8tmenl8 held a8 fixed assots are shown al Go¥1 le￿ provl8ion for Imp8lmienl.
2.9 8to¢k6
Stocks are valued al the lower of Go¥t and ng1 r881i8able value after maklng due allowancg for
obsolete and 81ow-movlng stocks.
2.10 Debtors
Trade and other debtors ar8 recognlsed at the Settlement amount after any trade discount offered.
Prepayments are valued al the amount prepaid nel of any Irode dI￿OUnts due.
2.11 Cash at bank and In hand
Cash at bank and In hand Includes cash end short-témi hlghly Ilquld Investments wth a Short
maturity of three months or less from the dale of acquisition or openlng of the deposit or similar
account.
Page 18

NORTHUMBERLAND AGED MINEWORKERS. HOMES ASSOCIATION
NOTES TO THE FINANCIAL STATEMENT8
FOR THE YEAR ENDED 31 DECEMBER 2024
Aecountlng pollclès leontinugd)
2.12 Llabllltlps and provl8lons
Liabilities are recognlsed when ther8 Is an obllgAtion et the Balance sheet date as a ￿sU11 of a past
event. it 16 probable that a ITansfer of economic beneflt wlll be required In $•tt18menl, and the
amount of th8 50lllement Q8n be e8timaled reliably.
Liabilities are recognised al the amount that the Charlly anliGipoles it will pay 10 8ettle the debt or
the amount il h88 re¢eived a? gdvanGed payments for the goods or sorvices il musl provlde.
Provisions are measured at the best estimate of the amounts requlred lo s@1118 th8 obligation.
Where the effect of th8 tlme value of money Is malarlal, the provisitsn 1$ based on the present valuo
of those amounts, discounted at the pre-tsx cli5Gount rate that rgflocts the iisks specific lo th8
liablllty. The unwlndlng of the dlscounl 1$ recognis6d In the Statement of financial aclivilie8 as a
finance ¢o$l.
2.13 Flnanclal In8trument8
The Charlly only has flnanclal 988els and financi81 Ilabllitl•s of a kind that quallfy a8 baslc financial
Instruments. BaslG flnancial instruments are initially reGognised at Iransactlon valuo and
subsequently measured al Ihelr 8elllement value with the 8xcepllon of bank loans which are
Subsequently measured al amortSsed cost u8lng the effectlve Interest method.
2,14Penglon•
Retirement beneflls to employe99 of Ihg Chorlly are provld8d by the Local Governm6nt Pon8lon
Scheme I'LGPS'I, a defined benefit 8Gheme.
The LGPS 18 a fltnded multi-employer 8cheme and the assets are held separately from those of tha
Charity in separate Irusltre 8dminlslered funds. Pension 8cheme assets are mea8ur8d al fair value
and Ilabllltles are measureij on an actuarial basis u$ing the projected unil credit method and
di5wunted at a rale oquivalgnl to the currènt rale of return on a hlgh quality corporate bond of
equiv818nl tèm and currency to the liabilities. The acluariol valuatlons are obtained at least
tri8nnially ond are updated at each Balance Sheet date. The amounts ch£rged lo operatlng surplus
are the current service costs and the costs of scheme inlroduclions, benefll changes. setllemenls
and Gurtailmenls. They are included as part of stsff costs as incurred. Nel interest on the net defined
benefil liabililylassel is also recegnised in the Slalgmenl of FinanGial A¢livilies and comprises thg
Intere51 cost on the defined benefit obligation and interest income on the scheme assets, calculated
by Multiplying the fair value of the scheme assets 81 the beginning of the period by the rale used lo
discount the benefit obllgalions. The difference between the Interest income on the sGheme a88818
and th& actual r¢lurn on the scheme assets is recogni$ed in other recognised gains and losses.
ActuarS81 galns and losse8 are recognlsed immediately in other recognlsed galns and105se&
Page 19

NORTHUMBERLAND AGED MINEWORKERS, HOMES ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting pollcles Icontlnuedl
2.15 Fund accountlng
G8neral funds are unre$lrfcted lund8 which aro av8llable for usè at the discrolion of the Trustees in
furtherance of the general oblectlv68 of the Charity and whlch have not been designated for other
purposes.
Design81ed fund8 comprise unrestricted funds that have been sel aside by the Trustees for
particular purposes. The alm and use of &ach dasignalgd fund is 991 out In the notes to the financial
statements.
Inveslm?nt Income, gain8 and1088e8 are 8lloc8led to the appropriate fund.
Crltlcal ae¢ountlng OBtlmate8 and areas of ludgm8nt
Estimates and Sudgments are Gonllnually evaluated and 8re based on hlsloriGal experlence and other
faGlor8, including expectallons of futur8 even18 that are bglieved to be reasonable under the
circumslanctrs.
Critical accounllng e811males and as$umpllons'.
The Charlty makes 88llmalè$ gnd assumptions concorning the future. The resultlng accounting èslimatgs
and 888umpllons wlll, by definition, 58ldom 8qual the related actual resu118. The g$1imalo9 and
assumplSons that hav& a signifi¢onl rfsk of cau6ing a material adjustment lo the Carrying amount$ of
08sels And liabilities within the next financial year ale di8CU8sed below.
Crltlcal area8 of judgment:
Accruod solar pano1 Income:
As a result of dolay$, initially caused by the pandemic, the flnanclal 8tstemen18 Include a provision of
£38,855 12023 ,' £87,460) bein9 an estimate ol the feed in tariff income due to the Charity al the year
end. Th1$ has bèan calculated in part from amounts récelved post yèar end with the balance of the
provision eslimaled using a fixed monthly rale less an eslimaled allowanGe for equipmonl failure. As this
income has not yel been collected in full, thg actual income recgived will drffer from the estimated
amount provided in th6 financial slalements.
Page 20

NORTHUMBERLAND AGED MINEWORKERS, HOMES ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Income from donatlono and legacles
Unre8trl¢ted
funds
2024
Total
funds
2024
Total
fvnds
2023
Donations
24
24
100
Total 2023
100
too
In¢om• from Charltable a¢tlvltle8
Unre8trlcted
fund8
2024
Total
funds
2024
Total
funds
2023
Income from ¢harltsble a¢llvltle6- Malntenan¢e
¢onlribulions
1,291,820
1,291,820
1,244,706
Tot812023
1,244, 706
1,244. 706
Page 21

NORTHUMBERLANDAGED MINEWORKERS, HOMES ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Incomo from other tradlng actlvltles
Income from non Gharitable tr•dlng a¢tlvltleB
Unrestrlctsd
fund8
2024
Total
fund8
2024
Total
funds
2023
Solaf panel income
82,214
82,214
83,523
Tot812023
83,523
83,523
Investment In¢om•
Unre8trlctod
lunds
2024
Tot•1
funds
2024
Tot81
funds
2023
Offlce rent received
Income from Inveslmenl8
Investment in¢ome- ca8h deposlls
Pension income
6,000
5,930
10,748
54,000
6,000
6,930
10.746
54,000
6,000
5,583
9,233
48,000
76,67e
76.676
68,816
Total 2023
68,816
68,816
Pgge 22

NORTHUMBERLANDAGED MINEOIORKERS, HOMES ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Expendlture on ralslng funds
Othèr tradlng exp6n6è8
Unregtrlcted
fund8
2024
Total
funds
2024
Tol81
unds
2023
Loan Interest and ¢on¥ullan¢y- solar pane18
Depreciation - solar panels
23,OCI)
56,046
23,000
56,046
31,309
56,047
79,046
79,046
87,356
Tot812023
87,356
87,356
Inv88tment managomgnt co8t8
Unrestrlcted
funds
2024
Tot41
funds
2024
Tol81
funds
2023
Investment management fees
1,611
1,811
1,530
Total 2023
1.530
1,530
Page 23

NORTHUMBERLAND AGED MINEWORKERS. HOMES ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
10. Analysls of expenditu￿ on charltabl• activltles
Summary by fund typ•
Unr08tricted
funds
2024
Total
2024
Total
2023
Direct C08ts- Provlslon of hou8ing seNiGe8
1,568,485
1.568,485
7,322.826
Tot812023
1,322.826
1,322,826
11. Analy818 of èxpendlture by actlvltlè8
A¢tlYltle8
und•rtaken
dlrectly
2024
Support
CO8t8
Total
fund8
2024
Tot81
lunds
2023
2024
Dlrect costs - Provl$lon of houslng servlces
1.238,219
330.266
1,568.485
1,322.826
Tolel 2023
1.084,549
238,277
1.322,826
Page 24

NORTHUMBERLAND AGED MINEWORKERS. HOMES ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
11. Analysi$ ol ¢xponditurn by actlvltlgs Icontlnuedl
Analy8iB of dirèct ¢06ts
Provlslon of
Houslng
Bervice3
Tot•1
funds
2024
Totol
funds
2023
2024
Stsff c08t$
Depreciation- houslng propertles, solar panels and vehlGleB
Repairs and maintenance
Insurance
Motor expenses
G8ln on disposal of fixed a￿1$
297,588
123,974
746,059
54,043
23,474
15,8991
297,568
123,974
746,069
54,043
23.474
(5,8991
307,418
125,563
578,275
47,129
26,164
1,238,219
1,238,219
1,084,549
Total 2023
1,084,549
1,084,549
Analy818 of support Gost8
ProYlJlon of
Houslng
$grvic05
2024
Total
fund8
2024
Totsl
funds
2023
Staff costs
Depreclatlon
Insurance
Premi8e8 costs
General adminislratlve &xpense8
Legal and professlonal costs
Loan interest
Ex gralia payments
Governance c08ts
143,002
5,483
4,699
72,862
16.169
12,793
23,001
39,999
12.258
143,002
5.483
4,699
72,862
18,169
12,793
23,001
39.999
12.268
136,540
5,089
4,200
25,022
21,564
9,464
24.7to
11.688
330.266
330,266
238,277
Total 2023
238,2T7
238,277
Page 25

NORTHUMBERLAND AGED MINEWORKERS, HOMES ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
11. Analysis of expèndituro by actlvltlos (contlnuedl
Anaty816 of support CO8ts {contlnued)
Governance costs comprisa fees in respect of the auditor including VAT. See note 12 below for detalls
nel ofVAT.
12. Audltor8' r8mun¢ration
2024
2023
Fee8 P8yable lo the Charity's auditor for tho audlt of the Charlly's annual
accounts
6,610
5,350
Fees payoblo lo the Charity's audllor In respect of:
All non4udlt servlc88 not Included gbovg
4,605
4,390
Fees payable lo the Charfty audS10rf8 as80clale8 In respect of..
All non-audll Service8 not Included aljove
6,000
4, TOO
13. Staff co8t8
2024
2023
Wages and salaries
Soclal securlty costs
Operating 003ts of definod benefit penslon scheme8
339,026
32,545
69,000
349,074
31,884
63,OOQ
440,570
443,958
other employ8e b8n•fits above comprised a total of £39,999 ex gratia payments Pa￿ to two employees.
The average number of per80ns employed by the Charity during the year wa8 a8 follows.,
2024
No.
2023
No.
Administration
Other
Poge 26

NORTHUMBERLAND AGED MINEINORKERS, HOMES ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
13. Staff costs leontlnuedl
The number of employees whose employee benefi18 lexcluding employer ponslon costs) exceeded
£60,000 was..
2024
No.
2023
No.
In the band £60,001- £70,000
The Trustee8 conslder key management personnel lo b8 th8 Trustees and senlor management of the
Charity. Remuneration and ben&fit$ recèlved by the senior management la$ di$lincl from Trustses vtho
are volunleersl includlng employer's national insurance and pen81on contributions amounted to £98,862
(2023.. £94,252) for tho year.
14. Trustees, r•muneratlon and 8xpon8es
During the year, no Truste$s recelved any remuneratlon or other benefit8 (2023- £NIL?.
Durlng the yéar ended 31 December 2024, no Tru8ts8 expenses have been incurred (2023- £NIL).
15. Tanglblè flxod afjsgts
Vohlcl88
Hou8lng Offlcg and
and Other flxod
propgrty
depot •qulpment
a88ets
Total
Cost or valuatlon
At 1 January 2024
Additions
Dispos818
32,877.047
340,793
117,950
28,825
120.502}
2,241,881 36,577,671
28,825
120,5021
Al 31 Decgmbor 2024
32,877,047
340,793
126,273
2,241,881 35,585.994
Depr9olatlon
At 1 January 2024
ChArge for the year
On dlsposals
943.661
60.617
83,782
5.137
104,492
7,666
120.601)
1,008,841
112,093
2,140,676
188,603
120,5011
At 31 December 2024
1,004,178
88.919
91,647
1,120.934
2,305.678
Net book valu
At 31 D0￿mbEr 2024
31.872,869
251,874
34,fj26
1.120,947 33,280.316
At 31 DeGember 2023
31,933.486
257.011
13,458
1,233,040 33,436,995
Page 27

NORTHUMBERLAND AGED MINEWORKERS. HOMES ASSOCIATION
NOTES TO THE FINANCIAL STATEMENT8
FOR THE YEAR ENDED 31 DECEMBER 2024
15. Tangiblè fixod a880ts {¢ontinu¢dl
Housing prop8rtles were revalued 8131 December 2018 by the Trustses on an open market basis lo
establish a deemed cost on transition to FRS 102.
The hi81oric81 cost of 888els included at valuation 8mounls to £412.57112023.' £412,571).
Hlstorlcally houslng propertles havè beèn dtsn8led al £nll to th6 Assoelatlon.
All prop8rlies are reglsterad in the names of the Trus180s on beh81f of Northumb8rfand Ag8d Mlners
Housing Association. A review is Currently being undertaken to ensure that properties which are still
registered in the name of former Trustees on behalf the Associalion are legally transferred to th& ourrenl
TnJslee8.
16. FIX￿ a888t Investment8
Other flxed
Llstsd
Inv•$tm¢nts InvoOtment8
Total
Cost or Yaluatlon
Al 1 January 2024
Addltion8
Disposals
Revaluations
357,919
16,972
115,3041
20,014
4,369
362,278
15,972
116,8201
20,014
(1,S16}
Al 31 Decèmber 2024
378,601
2.843
381,444
Net book valu•
Al 31 De¢ern￿r 2024
378,601
2,843
381,444
At 31 D9c9m￿r 2023
357,919
4,359
362,278
17. Stock6
2024
2023
Finlshed good$ and goods for r8sal8
9,523
15,576
Pago 28

NORTHUWIBERLANDAGED MINEWORKERS, HOMES ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
18. Debtors
2024
2023
Dug wlthln one yoar
Maintenance contribution debtors
other d6btor8
Prepayments and accrued Income
15.814
4.886
238,528
34, 772
2,514
214,549
259,228
251, 835
19. Cr•dltorn: Amount• falllng due wlthln ono y&Ar
2024
2023
Olher108n$
Trade Gredllors
Other laxalion and 80cial 8eourlty
Other credllor$
Accruals ond défèrr￿ Sn¢ome
110,868
32,763
46,807
92,394
36,913
110.8S8
16,474
20,426
T5,048
24,547
318,645
24T,363
Other Greditors includes £66.16912023'. £61,239) rent bond8 collected from n8w lenant8. Thes& bond8
will be ropaid or realised once tenenls no longer o¢cupy their property.
Page 29

NORTHUMBERLAND AGED MINEWORKERS. HOMES ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Credltors: Amounts falllng duo aftèr more than one year
2024
2023
Oth•r loan8
1,101.933
1,214,122
Included within the above are amounts falllng due as follows..
2024
2023
Btheen on• and Iwo years
Other loans
112.188
112,188
Betwegn two and flve yèar8
Other loans
336,585
336,565
Over flve yearn
Other loans
863,180
765,369
The aggregate amount of Ilabllltl88 payablè or repayabl6 wholly or In part mor8 than five years after the
reportlng dale 1$..
2024
2023
Payable or repayablg by Ingtalments
653,180
765,369
653,180
765,369
The loenlg 8ocured on hDu$ing properties with a nel book value of £7,750,00012023.' £7,750,000),
21. Financlal Instruments
2024
2023
FlnanGial a8¥9ts
Flnancial assets measurod al falr value through income and 8xpendilurÈ
676,456
855,007
Financial assets measured at fair value through income and expenditure compTi8e bank balances and
quotsd investments.
Page 30

NORTHUMBERLAND AGED MINEWORKERS, HOMES ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
statem•nt of funds
Stat¢mpnt of funds- currènt yaar
Balance ot
31
Galn81 Decembor
{Lossesl
2024
Balgneo at 1
January
2024
Trdnsfors
Inlout
Income Exp8ndlturo
Unrestrlctod
fund8
Deslgnated
fund¥
D8$lgn818d flxed
asset fund
33.436,998
1185,604)
28,825
33,280,316
Gon•ral fund8
G8neral fund
Pen8lon reseNe
23,160
1,46D,734 11,448,638) 1139,825)
115,0001
111,000
20,752
196,0001
{93.8271
23,160
1,450.734 {1,463,6381
128,825)
(75,2481
{93,8271
Total
Unr88trlctod
fund8
33.460.146
1,450,734 {1,649,1421
{75,2481 33.186,489
Page 31

NORTHUMBERLAND AGED MINEWORKERS, HOMES ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
22. Statèment of funds Icontinuedl
statèment of funds- prior year
8alanGe al
3t
Decemb&r
2023
8alanco al
1 January
2023
Trnn$fe
In/oul
G8in81
{Loss@s)
Income Expenditure
Unrestrlcted
funds
DeBignatsd
funds
De$lgnaled flxed
88soI fund
33,623,694
(186,699)
33,436,995
G6nèr41 funds
General fund
P8n8ion re$eN6
(65,323) 1,397. 145 (1,210,013) (129,000)
(15,000)
129,000
30,341
(114,000)
23,f50
(65,323) 7,39T, 145 (1,225,013)
(83,659)
23,150
Total
Unrestrlcted
fund8
33,558,371
Y,39T,745 (1.411,712)
(83, 659) 33,460, 145
23. Analysi8 of net 4s$ot$ botwoen funds
Analys1¥ of net asset5 botwoen funds- Qurrgnt porlod
Unr•strlct8d
fund8
2024
Total
funds
2024
Tangible fixed a65e15
Fixed asset investments
Current assets
Creditors due within one year
Creditors due in more than one year
33,280,316 33.280,316
381,444
381.444
945,207
945.207
{318.5451
1318,5451
11,101,933) {1,101,9331
Total
33,186,489 33,186,489
Page 32

NORTHUMBERLAND AGED MINEWORKERS. HOWIES ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
23. Anolysis ol not a$¥ets betwoon fund8 {continued)
Analy$lo of net assots between fund8- prior perlod
Unrestricted
funds
2023
Tot&1
funds
2023
Tangible flxed a$$el8
Flxed asset investments
Current assets
Creditors due wllhln one ygar
Creditor8 due in more than one year
33.436,995 33,436,995
362,277
362,277
1, 122,358
1,122,358
(24T,363)
f247,363)
(1,214, 122) (1,214, 122)
Total
33,460, 145 33,460, 145
Raconclllatlon of not movamant In fund8 to not Cash flow from oporatlng actlvltle8
2024
2023
Nèt Incom￿&x￿ndlI￿rè for thè p8r5¢xI 188 por Slalgmenl of FlnancSal
Aclivitiesl
{177,6561
15,774
Adluslments for:
Depreciatlon charges
Gains on investments
Dividènds, Inter88t and rents from investments
Profll on the sale of fixed assets
Decreasellincreagel in stocks
08cr8asellincrea8el in debtors
Incraasellldecreasel in creditor8
Loan Interest
D8fln8d benefll pension 8cherne co81 less CDnlribulions payable
185,503
120,7521
(76,1761
15,8991
5,993
17,393)
71,182
46,213
196,0001
186,699
f30,341J
f68,816J
(7.941)
118,528
(32. 195)
49,419
(114,OOOJ
Net cash providèd byllus•d Sn) operatlng actlvltles
173.9851
117,127
Page 33

NORTHUMBERLAND AGED MINEWORKERS, HOMES ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
25. Analy818 of oash and cash oquivalents
2024
2023
Cash In hand
676,4S6
855,007
Total cash and cash 6qulval•nts
676,456
855,007
26. Analy818 01 changou In not dfrbt
At1
January
2024 Cagh flo
At31
Do¢ember
2024
Cash al bank and In hand
Debt due wilhln 1 year
Debt due after 1 year
865,007
1110,868)
11,214,122)
1178,661)
676,456
(110,8681
112,189 {1,101,933)
27. P•n$lon commltments
The Charity OP8rate8 a defined benellt penslon 8chem8.
The A880ciallon 18 one of 8ever81 employlng bodleg Included within the Loc81 Government Penslon
Scheme ILGPSI.
The LGPS Is g funded deflned benefit 8cheme wSlh the assets held In 8ep8r8te Iwstse administered
funds. Contributions to tho Schome are determined by a qualified actuary on the basis of triennial
valuatlons uslng the projected unil method. A full acluarlal valuallon of the Tyne and Wear Pension Fund
wa5 Carried out on 31 March 2022.
Prinoipal actuarial a8sumpllons al the Balance sheet dale (expressed as w¢ighted avgrage$l.'
At31
December
2024
A131
December
2023
Discount rate
Future salary Increases
Penslon increases
CPI inflation
Page 34

NORTHUMBERLANDAGED MINEWORKERS. HOMES ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
27. Penslon ¢ommltmonts {¢ontinu8d)
At31
Dacember
2024
Yoars
A131
Decembsi
2023
Years
Mortality rates (ln ygarsl
-for a male ggèd 65 now
- al 65 for a male aged 45 now
for a female aged 65 now
- al 65 for a femgle aged 45 now
20.8
21.7
24.0
21.0
22.2
24.1
25.5
The Charlty's Share of the a$$o1s In tha scheme was,,
At31
Decembgr
2024
At31
December
2023
Equllles
Gllls
Corporate bond8
Propèrty
Cash and olhor liquld assots
other
Mulli 886et crgdil
2,086,000
432,000
61,000
800,000
197,000
77,000
633.000
2,030,000
52,000
782,000
417,000
28.000
517,000
184,000
Total falr value of o88ets
4,278,000
4,010,000
The actual return on schtrmg 8S$019 was £275,000 (2023- £237,000).
The 8mounts recognlsgd in thé Slal6m6nt of flnanclal acllvllles are a8 follows..
2024
2023
Current sgrvice co$1
Interest in¢oma
Inlgresl Gosl
69,000
63,000
{180,000) (181,000)
126.000
133,000
Total amount reGogni8od in thè Ststement of financial a¢tivitie$
15,000
15,000
Page 35

NORTHUMBERLAND AGED MINEWORKERS. HOMES ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
27. Penslon eommltmènts {¢ontinugd)
Movements in the present value of the defined benefit obligation were as follows..
2024
2023
Opénlng d•fin8d b8nefil obligation
Current s8rvlce cost
Inl8r881 c08t
Contributions by scheme particlpants
Actuari81 losses
Benefits paid
4.010.000
3, 744,000
69.000
63,000
126,000
133,000
23,000
2t,000
191,000
170,000
{143,000) (121.000)
C1081ng dèflnèd b•n•flt oblSgatSon
4.276.000
4,010,000
The a¢luary has reported actuarlal galn$ of £98,000 for the year. This amount ha8 been re8lrlcled to
loss of £191,000 as shown above as il Is not expected that the 8urplu8 will be distributed lo the Chaflty.
Movgments In the falr value of the Charlty's 8hare of sGheme as¥el$ were as follow8..
2024
2023
Openlng lair value of 8cheme a880ts
Exwled relum on a88et8
Actuarial gains
Contributions by employer
Contrlbulions by scheme partlcipanls
Beneflls pald
4.010,000
3, 744,000
180,000
181,000
95,000
56,000
111,000
129,000
23,000
21.000
{143,0001 (121,000)
Closlng falr valuo of 8ch•me a886ts
4,276,000
4,010,000
28. Rolatod party tran¥action8
After obtalning appropriate landlord Gonsents. elc. a new lease was entered Into with 8ff8cl from 1 June
2021, sub letting the first floor, for use as the constituency office of lan Lavery MP {a TTuslee of the
Charity). Rental incom@ amounting to £6,000 12023.. £6,000) was due In the year. In addition the
¢onsliluency offlce is responsible for paying half the runninu costs of the property and charges of £3,386
were invoi¢ed, following the ye8r 8nd, in r8spacI of the year ended 31 December 2024.
Two Trustees, who qualify lo be residents, occupied residential properties of the charity on consistent
temis a$ all other residents.
Page 36