Joseph Brough Charitable Trust Annual financial statements for the year ended 31 March 2023 

Registered Charity Number 227332 



## Joseph Brough Charitable Trust 

Annual financial statements for the year ended 31 March 2023 

## Contents 

|Trustee and advisers fortheyearended 31 March 2023 .0........ccssssccsesscsessessececeneesssseceecseartavecsessseeesrsssetestemenense||
|---|---|
|Trustee's Annual Report for the year ended 31 March 2023 oscessssessecceceessesesssesseresscssseessseenensessssesseneeaeee|2|
|Independent auditors’ report to the Trustec ofJoseph Brough Charitable Trust..cccsccecesesssssecesessssnemeneeeeA|A|
|Statement offinancial activities for theyearended 31 March 2023...ccssessssssersseseescavsncesseeresesteenssnscecsescsnee|7|
|Balance sheet as at 31) March 2023..ccscaceeccsccescsscessessscscenesessseeseeescsnsespernavansuessaseresnesiusaeesssenesseresmemnssssssrenee|G|
|Notes to the financial statements for the year ended 31 March 2023 wn.ccseeccsseesscsseeccccceeccserenterecreereeeeeeD||





## Joseph Brough Charitable Trust 

## Trustee and advisers for the year ended 31 March 2023 

Trustee Community oundalion serving Tyne & Wear and Northumberland 

Bankers Lloyds Bank ple Grey Street Branch 102 Grey Street Newcastle upon Tyne NE99 ISL 

Independent auditors Azets Audit Services Bulman House Regent Centre Gosforth Newcastle upon Tyne NE3 3L5 

Investment managers Investec Wealth & Investment Limited 2 Gresham Street London LEC2V 7Q? CCLA Wealth & Invesiment Limited (ftom May 2023) One Angel Lane London EC4R 3AB 

Principal office Philanthropy Elouse Woodbine Road Gosforth Newcastle upon Tyne NE3 IDB 

I 



## Joseph Brough Charitable Trust 

## Trustee’s Annual Report for the year ended 31 March 2023 

The following information about the financial year ended 31 March 2023 is presented in the form required by the Charity Commission and is in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (SORP), 2019. 

Structure, governance and management 

The Trust is governed by a Deed of Trust dated 6 December 1946 and is a registered charity (charity number 227332). It has a corporate Trustec, the Community Foundation serving Tyne & Wear and Northumberland, Details of governance and management regarding the Trustee board and executive officers of the group can be found in the financial statements of the Trustee. The Charity is registered in the Uniled Kingdom. 

## Objectives and activities 

The objectives of the Trust are to provide grants to charitable orgamisations helping people in need in the historic counties of Northumberland and Durham (currently Northumberland, Tyne & Wear, Durham and part ofCleveland). It gives priority te appeals linked to the Methodist Church. as the settlor was an active Methodist, and through Brough Benevolent Association also helps a large number of individuals in need. During the year 13 charities or organisulions have benefited from grants from Joseph Brough Charitable Trust with total grants awarded of £82,130. The day to day running of the charity is carried out by its Trustce and during the year the charity paid £5,000 to its Trustee for administration costs. 

The Joseph Brough Charitable Trust exists and operates for the public benefit. Through its grantmaking it works to help people in need in the historic counties as described above. The ‘lrustee contirms that it has referred to the guidance produced by the Charity Commission on public bencfit when reviewing the Charity’s aims and objectives and in planning future activities and granimaking and is satisfied that the requircmems have been met. 

## Achievements and performance 

During the financial year ended 3! March 2023 the Trustee awarded £82,130 of new grants, which are listed in Note 3 of the financial statements. 

## Investment policy 

The trust deed provides power of investment and the assets of the Trust are invested by the investment managers who at the year end were Investec Wealth & Investment Limited. The Trustee appoints an Investment Committee made up of[directors][of][ Community][Foundation][serving][Tyne][ &][Wear][and] Northumberland and other co-opted members. The Investment Cemmitlee meet with the investment managers, usually on a quarterly basis, and monitor their performance in relalion to a recognised charity benchmark. Clear guidelines have been agreed in relation to asset allocation and these are also reviewed by the Investment Committee on a quarterly basis or when the market has been particularly volatile. Performance information for the year showed the funds decreased by 3.5% which was ahead of benchmark, ARC Charity Steady Growth. During the ycar u review was cartied out of the investment managers of the whole group. In May 20235 CCLA were appointed us the new investment manager for this charily. 

## Financial Review 

During the current financial year, the Trust had net expendilure of £174,793 (2022: income £148,325) afler deduction of investment losses of £130,090 (2022: gains of £127,829). 

## Risk Management 

The Trustee has examined the major strategic, business and operational risks which the charity faces and confirms that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to manage these risks. 

## Reserves 

Due to the nature of the trust fund it is the policy to pay its income out in grants and therefore reserves are kept to a minimum. The Trust only awards grants from income actually received, so although income will be reduced in the coming year commitments have not been made beyond those that ure covered by income, 

2 



## Joseph Brough Charitable Trust 

## Trustee’s Annual Report for the year ended 31 March 2023 (continued) 

## Plans for future periods 

‘The Trustee plans to continue to use available funds to provide grants to charitable organisations helping people in need in the historic counties of Northumberland and Durham. 

## Statement of the trustee’s responsibilities 

The Trustee is responsible for preparing the Trustec’s Annual Report and the financial statements in accordance with applicable law and regulations. 

The law applicable to charitics in England and Wales requires the Trustee to prepare financial statements for each financial year. Under that law the Trustee has prepared the financial statements in accordance with United Kingdom Accounting Standards, comprising FRS 102 “The Financial Reporting Standard applicable in the UK and the Republic of Ireland”, and applicable law (United Kingdom Generally Accepted Accounting Practice). Under that law the Trustee must not approve the financial statements unless it is satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustee is required to: 

- — select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charitics SORP; 

- ° make judgments and estimates that are reasonable and prudent; * state whether applicable UK Accounting Standurds comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and 

- * prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. 

The Trustee is responsible for keeping accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable it to ensure that the financial statements comply with the Charities Act 201 1, the Charity (Accounts and Reports) Regulations 2008 and the provision of the trust deed. It is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

Statement as to disclosure of our auditors In so far as the Trustee is aware at the time of approving the annual report: 

- there is no relevant audit information, being information needed by the auditors in connection with preparing their report, of which the charity’s auditors are unaware: and 

- ° the trustee, having made enquiries of its directors and the charity’s auditors that they ought to have individually taken, has taken all steps that it is obliged to take as a trustce in order to make itself aware of any relevant audit information and to establish that the auditors are aware ofthat information. 

## Independent Auditors 

Azets Audil Services have indicated their willingness lo continue in office and a resolution concerning their reappointment as auditors of the charity will be proposed at the forthcoming Annual General Meeting. 

A ved bythe Trustee and signed on its behalf: 

thouse Chair and Director for Community Foundation serving Tyne & Wear and Northumberland 20 September 2023 

3 



## Joseph Brough Charitable Trust 

## Independent Auditors' Report to the Member of Joseph Brough Charitable Trust 

## Opinion 

We have audited the financial statements of Joseph Brough Charitable Trust (the ‘charity’) for the year ended 31 March 2023, which comprise the Statement ofFinancial Activities, Balance Sheet, and Notes to the Financial Statements, including a summery of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and applicable law (United Kingdom Gencrally Accepted Accounting Practice). 

## In our opinion the financial staternents: 

- » give a true and fair view of the state ofthe charity's affairs as at 31 March 2023 and of its incoming resources and application of[resources,][including][its][income][ and][expenditure][for][the][ year][then][ended;] 

- * have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice: and 

- have been prepared in accordance with the requirements of the Charities Act 2011. 

## Basis for opinion 

We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit ofthe financial slatements section of cur report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance wilh these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

Conclusions relating to going concern 

In auditing the financial statements, we have concluded that the trustee’s use of the going concem basis of accounting in the preparation of (he financial statements is appropriate. 

Bascd on the work we have performed, we have not identified any material uncertainties relating to the events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue es a going concern for a period of at least twelve months from when the financial statements are autherised for issues, Our responsibilitics and the responsibilities of the trustee with respect to going concern are described in the relevant sections of this report. 

## Other information 

The trustee is responsible tor the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, excepl Lo the extent otherwise explicilly stated in our report, we do nol express any form of[assurance][conclusion][thereon.] In connection with our audit of the financial statements, our responsibility (s to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of[the][other][information.][[f][based] on the work we have performed, we conclude that there is a material misstatement of this other information, we arc required to report that fact. 

We have nothing to report in this regard. 

$ 



## Joseph Brough Charitable Trust 

## Independent Auditors’ Report to the Member of Joseph Brough Charitable Trust (continued) 

Matters on which we are required to report by exception 

In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have nol identified materia] misstatements in the Trustce’s Report. 

We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion: 

- adequate accounting records have not been kept, or returns adequate for our audit have net been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of the trustev’s remuneration specified by law are not made; or 

- “we have not received all the information and explanations we require for our audit. 

## Responsibilities of the trustee 

As explained more fully in the statement of trustee's responsibilitics sct out on page 3, the trustee is responsible for the preparation ofthe financial statements und for being satisfied thal they give a true and fair view, and for such interna) control as the trustee determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustee is responsible for assessing the charity's ability to continue as a poing concern, disclosing, as applicable, matlets related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charily or lo ecasc operations, or have no realistic alternative but to do so. 

## Auditor’s responsibilities for the audit of the financial statements 

Our objectives are lo obtain reasonable assurance about whether the financial! statements as a whole ure free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is nota guarantee that an audit conducted in accordance with [SAs (UK) will always detect a material misstatement when it exists. Misstatements ¢an arisc from fraud or crror and are considered material if, individually or in the aggregate, they could reasonably be expected to influence ihe economic decisions of users taken on the basis of these financial statements. 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstalements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is 

detailed below: 

- . Enquiries with management about any known or suspected instances of non-compliance with laws and regulations and fraud: 

- . Reviewing beard minutes; . Challenging assumptions and judgements made by management in their significant accounting estimates: 

- . Review financial statement disclosures and testing lo supporting documentation to assess compliance with applicable laws and regulations; and 

- . Auditing the risk of management override of[controls,][including][through][tesling][ journal][entries] and other adjustments for appropriateness, 

Because of the ficld in which the client operates, we identified the following areas as those most likely to have a material impact on the financial statements: compliance with the UK Charities Act. 

Owing to the inherent limilations of an audit, there is an unavoidable risk that some material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the [SAs (UK). For instance, the further removed non-compliance is from the events and transactions reflected in the financial statements, the less likely the auditor is to become aware of it or to recognise the noti-compliance. 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www. ftc.orp.uk/auditorsresponsibilites. This description forms part of our Auditors report. 

5 



## Joseph Brough Charitable Trust 

## independent Auditors’ Report to the Member of Joseph Brough Charitable Trust (continued) 

Use of our report 

This report is made solely to the charity's trustee, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our work has been undertaken so that we might stale to the trustees those matters we are required to state to trustees in an auditors’ report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone olher than the charity and its trustees as a bedy, for our audit work, for this report. or for the opinions we have formed. 

Simon Brown BA ACA DChA {Senior Statutory Auditor) For and on behalf of Azets Audit Services Chartered Accountants and Statutory Auditor Bulman House Regent Centre Gosforth Newcastle upon Tyne NE3 31S 

Azets Audit Services is a trading name ofAzets Audit Services Limited 

6 



## Joseph Brough Charitable Trust 

## Statement of financial activities for the year ended 31 March 2023 

||Note|Restricted<br>funds|Endowment<br>fund|Total<br>2023|Total<br>2022|
|---|---|---|---|---|---|
|||£|£|£|£|
|Income and endowments from:||||||
|Investment income|4|50,176|-|50,176|43,757|
|Total income andendowments||30,176|-|50,176|43,757|
|Expenditure on:||||||
|Investmentmanagement costs||-|T7719|7,79|8.231|
|Charitable uctivitics|5|87,160|:|$7,160|15,030|
|Total expenditure||87,160|7,719|94,879|23,261|
|(].osses)/gains on investment assets||-|(130,090)|(130,090)|127,829|
|Net (expenditure}income and||||||
|movement on funds||(36,984)|(137,809)|(174,793)|148,325|
|Total funds brought forward||63,226|2,295,477|2,358,703|2,210,378|
|Total funds carried forward||26,242|2,157,668|2,183,910|2,358,703|
|asa||||||



All of the above results are derived from continuing operations. All gains and losses which were incurred in the current year and prior year are included above, The comparative figures for euch fund are shown in the notes to the accounts (note 2). 

3 



## Joseph Brough Charitable Trust 

## Balance sheet as at 31 March 2023 

||Note|2023|2023|2022|2022|
|---|---|---|---|---|---|
|||£|£|£|£|
|Fixed asset investments|6||2,033,157||2,131,425|
|Current assets||||||
|Debtors|7|7,131||3,435||
|Cash at bank and in hand||168,602||203,843||
|Total current assets||175,733||207,278||
|Creditors: amounts falling due||||||
|within one year|8|(24,980)||-||
|Net current assets|||150,753||207.278|
|Total assets less current Habilities|||2,185,910||2,358,703|
|The funds ofthe Charity:||||||
|Endowment funds|9||2,157,668||2,295,477|
|Restricted income funds|9||26,242||63,226|
|Totalcharityfunds|||2,183,910||2.358,703|



The financial statements on pages 7 to 15 were approved by the Trustee on 20 September 2023 and were signed on its behalf by: 

## Paul Farquhar 

Treasurer and Director for Community Foundation serving Tyne & Wear and Northumberland Trustee 

8 



## Joseph Brough Charitable Trust 

## Notes to the financial statements for the year ended 31 March 2023 

## 1 Accounting Policies 

## a) Basis of preparation 

The financial statements have been prepared on a going concern basis under the historical cost convention as modified by the revaluation of[listed][investments.][The][financial][statements][have][been][prepared][in][accordance] with Accounting and Reporting oy Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of [reland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)). the Financial Reporting Standard applicable in the UK and Republic ofIreland (FRS [02} and the Charities Act 2011. 

Joseph Brough Charitable Trust meets the definition ofa public benefit entity under FRS 102, The ‘Trustee considers that there arc no material uncertainties about ihe Charity’s ability to continue as a going concer. 

b) Cash flow The ‘Trust is a small entity and, as such, it has taken advantage of the exemption from preparing a cash Now statement under the terms of Section 7 of Financial Reporting Standard 102. 

c) [Income and expenditure (nvestment income, deposit interest and expenditure are included in the financial statements on an acccuals basis. 

## d} Resources expended 

Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure, 

Grant commitments are accounted for on an accruals basis. once approved by the Trustee. 

## e} Charitable activities 

Costs of charitable activities include grants made and the administration costs associated with grantmaking. 

## f) Governance costs 

Governance costs of the Trust have been met by its Trustee. 

## e) Investments 

Investments are stated at market value at the ycar end and any gain or loss on Investments is taken to the Statement ofFinancial Activities. 

## h) Permanent endowment and restricted funds 

The permanent endowment fund is the Joseph Brough Charitable Trust Reserve. The income from this is applied to the restricted fund and utilised in accordance with the terms of the endowment, which states that the monies may be used to further lhe objects ofthe charity. 

i) Debtors 

Dividends and interest receivable are stated at the amount due to be received. 

9 



## Joseph Brough Charitable Trust 

## Notes to the financial statements for the year ended 31 March 2023 (continued) 

## 1 Accounting Policies (continued) 

j) Cash at bank and in hand Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of twelve months or less from the date of acquisition or opening of the deposit or similar account. 

## k) Creditors and provisions 

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds te a third party and the amount due lu settle the obligation can be measured or estimated reliably. This includes grants payable when the offer is approved and conveyed to the recipient. Creditors and provisions are normally recognised at (heir seulement amount. 

## i) Judgements and key sources of estimation uncertainty 

The preparation of the financial! statements requires management lo make judgements. esiimates and. assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events Lhat are believed to be reasonable under the circumstances. 

## There are no such judgements within the financial statements. 

19 



## Joseph Brough Charitable Trust 

Notes to the financial statements for the year ended 31 March 2023 (continued) 

## 2 Statement of Financial Activities prior year fund comparatives 

|Restricted<br>Endowment<br>Total|
|---|
|funds<br>fund<br>2022|
|£<br>£<br>£|
|Se|
|Income and endowments fram:|
|Investment income<br>43.757<br>-<br>43,757|
|ee|
|Total income and endowments<br>43,757<br>-<br>43,757<br>ee<br>TE|
|Expenditure on:|
|Investmentmanagement cosls<br>*<br>$231<br>8,231|
|Charitable activities<br>15,030<br>-<br>15,030<br>$e|
|Total expenditure<br>13,030<br>8,231<br>23,261<br>EE<br>OT|
|Gains on investment assets<br>-<br>127,829<br>127,829|
|ee|
|Net income and movement on funds<br>28.727<br>119,598<br>148,325|
|Fundbalancesbrought forward<br>34,499<br>2,175,879<br>2,210,378|
|oe<br>Fund balancescarried forward<br>63,226<br>2,295,477<br>2,358,703|
|ee|



## 3 Taxation 

The Trust is a registered charity and its investment income is not subject to income, capilal gains or corporation tax provided that the income generated is applied to charitable purposes. 

## 4 Investment income 

|2023<br>2022|
|---|
|£<br>£|
|eee|
|Dividends and interest from endowment fund investments<br>50,176<br>43,757<br>eee|



lt 



## Joseph Brough Charitable Trust 

## Notes to the financial statements for the year ended 31 March 2023 (continued) 

## § Charitable activities 

The Joseph Brough Charitable Trust undertakes its charitable activitics through grantmaking. 


**----- Start of picture text -----**<br>
|||||||||
|---|---|---|---|---|---|---|---|
|2023|2022|
|£|£|
|Grants|payable|$2,130|10,000|
|Direct|costs|—|grants administration|fee|5,000|5,000|
|Direct|costs —|bank|charges|30|30|
|$7,160|15,030|
|Grants awarded|during|the year ended|31|March|2023|were:|£|
|NEETZOTZ|Ltd|9,950|
|The|Chevy|Gateshead|Lid|5,000|
|P.R.O.P_S|North|East|5,000|
|Jewish|Community|Council|of Gateshead|10,000|
|MINE|(Mission|Initiative|Newcastle|East)|7,500|
|Sevhill|Food|Hub|1,000|
|Cramlington|Voluntary|Youth|Project|2,000|
|Tyneside Welcomes|3,700|
|KIIG|6,006|
|Greges Foundation|7,006|
|Chili|Sudios (Newcastle and Gateshead|Arts|Studio|Ltd)|5,006|
|North|East Law Centre|10,000|
|Peace|of|Mind CiO|9,980|
|Total|grants|awarded|2023|82,130|
|Yotal|grants awarded|2022|10,000|

**----- End of picture text -----**<br>


The Trust does not employ any stal'f (2022: nonc) and therefore has incurred no staff costs during the year (2022: £nil). 

The audit fees are paid by the parent churitable company and are included in the consolidated accounts. 

12 



## Joseph Brough Charitable Trust 

Notes to the financial statements for the year ended 31 March 2023 (continued) 

## 6 Fixed asset investments 

|Listed|
|---|
|investments|
|£|
|eee|
|Marketvalue at | April 2022<br>2,151.425|
|Additions<br>375.504|
|Disposals<br>(363.682)|
|Realised gains on disposal<br>9,744|
|Unrealised losses on revaluation<br>{139,834}<br>eee eeeee<br>NS|
|Market value at31 March 2023<br>2,033,157|
|EE|
|Cost at 31 March 2023<br>1,697,593<br>EF<br>EF|
|Cost at 31 March 2022<br>1,574,163<br>eee|



Listed investments are summarised as follows:- 

||2023<br>Market|2022<br>Market|
|---|---|---|
||Value|Value|
||£|£|
|UK Fixed Interest|166,072|171,963|
|UK Equities|375,491|705,866|
|Property|64,819|75,504|
|Overseas Equities|952 499|944,727|
|Collective Investment Schemes|274,276|253,363|
|ee|||
|2,033,157<br>2,131,425<br>sees|||



The following investments accounted for more than 5%ofthe total: 

Vanguard Funds S & P 500 ple - £325,089 

## 7 Debtors 

||2023|2022|
|---|---|---|
||£|£|
|ee|||
|DividendsandInterestReceivable|7,131|3,435|



13 



## Joseph Brough Charitable Trust 

## Notes to the financial statements for the year ended 31 March 2023 (continued) 

## 8 Creditors: amounts falling due within one year 

|||2023|2023|
|---|---|---|---|
|||£|£|
|Grants|payable|24,930|-|



## 9 Funds of the charity 

|||Balance<br> April 2022|Income|Expenditure|Gains and<br>Balance<br>losses<br>31 March|
|---|---|---|---|---|
|||||2023|
||£|£|£|£<br>£|
|Permanent endowment fund|2.295.477|-|7,719|(136,099)<br>2,157,668|
|Restricted Fund|63,226|30,176|87,160|-<br>26,242|
|Total funds|2,358,703|30,176|94,879|(130,090)<br>2,183,910|
|10<br>Analysis ofnet assets between||funds|||
||||Restricled|Endowment<br>2023|
||||funds|funds<br>Total|
|ee<br>a|||||
|Investments|||-|2,033,157<br>2,033,157|
|Current assets|||31,222|124.511<br>175,733|
|Current liabilities|||(24,980)|-<br>{24,980)|
|Totalnetassels|||26,242|2,157,668<br>2,183,910|



## 10 Analysis of net assets between funds 

## 11 Transactions with the Trustee and Related parties 

During the year the Trust made payments totalling £5,000 (2022: £5,000) to its Trustee for administrative services provided in relation to the payment of[grants.] 

i 



## Joseph Brough Charitable Trust 

## 12. Ultimate controlling party 

The ultimate parent undertaking and controlling party is Community Foundation serving Tyne & Wear and Northumberland, a company incorporated in England whose company number is 02273708. The consolidated financial statements of Community Foundation serving Tyne & Wear and Northumberland can be obtained from Philanthropy House, Woodbine Road, Gosforth, Newcastle upon Tyne, NE3 IDD, 

Community Foundation serving Tyne & Wear and Northumberland is the smallest and the largest group to consolidate the organisation’s financial results. 

1s