Joseph Brough Charitable Trust
Annual financial statements
for the year ended 31 March 2024
Reglstered Chthrity Number 227332

Joseph Brough Charitable Trust
Annual financial statements
for the year ended 31 March 2024
Contents
TTUStee and advisers for the year ended 31 M￿Ch 2024... .
Trusttt's Annual Report for thc year euded 31 MarctrL 2024................................................ .
Independeni examiners, r¢w)rt to thc Trustee of Joseph Brough Charitable Trnsi.....................
Statement of financial activiti¢s for the ytar ended 31 March 2024...
Balance sheet as * 31 March 2024................................................. ...
Noics to the fmancial statements for the year 31 March 2024.......................................

Joseph Brough Charitable Trust
Trustee and advisers for the year ended 31 Mar¢h 2024
Trustee
Community FoundatlOD seTYing Tyne & Wear and Northumb¢T]and
Ba￿lLerS
Lloyds BdDk plc
(irey Street Branch
102 Grey Streei
Newcastle upon Tyne
NE99 ISL
llldependent Ex4rniner
Sitnon Brown BA ACA DChA
Azcis Audit Setvices
Butman House
R¢g¢nt Centre
Gosfurth
N¢wLasile upon Tyne
NE3 3LS
IDvestm¢nl MAtt*ger
CCLA Wealth & tnvestment Limited lfrun May 2023)
On¢ Angel Lane
London
EC4R 3AB
PrinilpAI orriee
Philkhnrhropy House
Wo()dbin¢ Road
Go.sforth
N¢w¢astle upon Tyne
NE3 IDD

Joseph Brough Charitable Trust
Trustee's Annual Report for the year ended 31 March 2024
The followtng inforniation about the financial y¢8r ended 31 March 2024 is presented in the forn] r¢quired by
th¢ Chtirity Commission and is in accordance with Attountincw and Reporting by Chariiies.. Statement or
Re¢ommend¢d Practice (SORP). 2019.
Structure? ¥overnallee aDd man&gtm¢Dt
The TTU5t is govemed by a Deed of dated 6 December 1940 and is a registered rharity (charity number
227332). It h&5 a corw)rate Trustee, the Community" Fotmdation serving Tyne & Wear and NoTthumberland.
Ik.tails of governance and o]anagerneni regarditig the Tn￿ltt trx)ard and executive otTi¢ers of th¢ group call be
found in the fthancial statements of the Tnjsiee. The Cbarity is regiswed in the Uniied Kingdom.
Objeetives and lletivities
Ilie objeLtives of the Trust are w provide grdnts to chariiable organisations helping people in need in the
historic couniies of Northumberland aDd Dutharn (currLntly Nortbumberlon(L TyDe & Wear, Durham and part
of Cleve]and}. li gives prioriry to apFthls linked to the Meihodist Church. a5 th¢ settlor an activ¢
Methodisi and through Brough B¢n¢volent A5sociaiion also helps a large numL*r of individuals in need.
During the year 8 charities or orgI￿15allorts have benefited from grant5 from Joseph Brough Charit2ble TNst
with totsl grants awarded ot £44,427. The day 10 day numin8 of the charFty 15 CaTried by its Trustee and
during the year the charity paid £5,0￿ LO ils 1'nJsiee (or administration c05rs.
The Joseph Brou8h Charitsbl¢ Trust cxisLs and opernttt for the public ttnefit. Throu¥h its granthl8king it
works to help people in need in the hisloric couniies as described above. The TTU5t¢e confirnis that it h&4
refetyed to the &yuidanc¢ produccd by the Charity Commission on public bcn¢fit whLn reviewing the Chariiy's
aims and objectives and in planning fvtur¢ a¢tiYiti¢s and granm]akin8 and 15 satisfied that the requirernen
have been met.
ehleveme#ts aDd perforrnance
During the fmancial year ended 31 March 2024 the I'nwee awarded £44,427 of new grdnLs which are listed in
Note 5 of the financial stalements.
lThvtstm¢nt policy
The ¢rusi de¢d provides power ofinvestment and the assets of the Trnst are invested hy the investment
managers who at th¢ year end werc CLLA. followin8 complelion of investtnent manager early in the year. The
T￿slee apwinrs an Inv¢stment Committtt made up of directors of Community Foundation serving Tyne &
Wear and Northutnberland aTKi oiher Covopied members. The Investhlent Committec meci with the investrncnt
managers, usually on 8 quarterly b&8is, and monitor their F¢rfoTmanee in relation to a recognised charity
benchmark. Clear guidelinc5 have been agreed in relaiion to 8ss¢t Ailocation and thcse are a150 reviewed by the
Investment C(Nnmittcc on a quarterty basi5 or when th¢ markei been particularty Vol￿1]e. Perfornian¢e
inf()rniati()n f[￿ the year showed the fiJnd5 increased by an estirnatcd t()tsl rcmm of 12.5V(* (Dei) which was
thcad of the pcer group benchm&*, ARC Charity Steady Growth. During the year a review wa& carried out of
th¢ inv¢stmcnt tnauagers of the whole group. tD May 2023 CCLA were ap￿l￿ted as the new investtnent
manager for this Ch￿iry.
Financial Revlew
Durin8 the cumt fmancial year, the Tru51 had net income of £241.135 (2023.. ¢xp¢nditure £174.793) 8fter
addition of investtnent Lains of £214,591 (2023.. losses of £130,0￿)).
Rlsk MaD4gement
The TnL8teL has eXa￿l￿ed the major strategic, business and oper&(iona] risk5 which the charity faces and
conf￿5 tha¢ sy5t¢tns have been estsblished to ¢nable regular rep(Kts to be produced so that the necessary
steps Gin be tak¢n to Ma[￿e these risks.
K¢%rYe5
Due to the natttre of the tru* fimd it i5 thc ￿lIcY to pay its itjcome oui in grants and thercfore reserves are kepl
to a minimum. The TnLSt only awards grants from income acnMIty re¢¢ive(L so although income will be
rethiced in the coming ycar CO[n￿ll￿tnts have n¢X be￿ m8(k iwond those that aTe covered by iocu]ne.

Joseph Brough Charitable Trust
Trustee's Annual Report for the year ended 31 March 2024
(continued)
Plans for future periods
Tbe Trustee plans to continue to Use available fimds to ryovide.¢prants lo charttsble orgaDisattons helping
ople iti need in the historic counti¢s of N(xthumberland aud Dutham.
stst¢ment o( the trnsttt's rtspoosiblllties
The Trustee is responsible for prepar￿8 the TnLStee's Annual Report and thr financial statem¢Dts in
accordance with applicable law and regulations.
The law appli¢4blc to charities in England and Wales requires the T￿Slee to prepare fmanciai statements fnr
each financial y¢ar. Under th* law ihe Trustee has" prep￿￿ the fmancial siatem¢nts in acc£)rdance with Unl￿d
KAngdom Accouniing Siandard& comprising FRS 102 "The Financial Reporting 8tandard applicable in thc UK
and the Republic of Ireland", and applicable law {United Ktngdom Generally A￿ept9￿ Accounting Practicc).
Under law the Trustee M￿￿1 noi approve the fmancial statements unless li is satisfied they give a true
and fair view of ihe state of affair5 of the charity and of th¢ tncoming resources and application of r¢sources of
the charity for that pcriod. In preparing these fywicial statemellts, the Trustee is required to..
select suitable a¢¢ountin8 wlicies and then atvly them consi5tently'
obserye the methods and principles in the Chartcies SOR￿.
make judgments and esiimai&s that are reasonable and prudcnt:
¥ia* whetheT appli¢8ble UK Accouniing Stsndards comprising FRS 102 have been followed, subject
aoy matcrial departures disclosed and expl*iined in the fm4wAcial siatemenLs.' and
prepare the financial ststerncnts on the goin8 con¢ern basis unle$8 il is iDappropriale to preswne thai
the Charity will continue in business.
The'l rustre is responsible for keeping accouniing records that are suffici¢rti to show and explain the charity'5
transactiuns and disc105¢ With reasonable accurn¢y ai any time the fin8n¢ial position ofthe charity and enable
it to en.sure that tbe financial staiements comp]y with the Charities Act 2011, the Charity (Accounts and
Reports) R¢gulation% 2008 and the provision of tbe tnL%i deed. li is also responsible for safeguardin8 the ￿$¢IS
of the charity and he￿￿ for tsking reThmable $t¢ps for the wention and detecftoo of fraud and other
Irre8uJariLies.
INdcpendent Ex8winers
Azets Audit Services bavc indicaied their willirtgDess to continue in office aDd a resoluti(Y) conceming their
r¢appotnrm¢nt as inde￿ndcn¢ examiner5 of the charity will be proposed ￿ the forthcomirt8 Annual General
Meeting.
the Trusiee and signed on its behatF.
ChAir and Director for ComffjuDity Found4ti0Tr serving Tync & Wur and NoT¢hurnberlaDd
18 Seplember 2024

Joseph Brough Charitable Trust
Independent Examiner's Report to the Member of Joseph Brough
Charitable Trust
I report ￿ the tsijstees on my examination of the rmanc￿l sta￿ent of the Joseph Brougb Charitsble Trust for
the y¢8r ended 31103f2024.
Responsibilities And b•sl$ of report
A$ the charity's tri￿ttS, you are resFthsible for the preparation of the accounts in ￿¢0￿lance with the
reqttiremLmts of (he Charities Act 2011 (*h¢ Aei").
I r¢wrt in respcct of my examination of the Tru5t'$ accounis carried uut under section 145 of the 2011 Act gnd
in carying out my exdmination. I have followed all the applithle Directions given by tbe Clwiry
Commission under section 145{5Xb) ofthe Acl.
IDd¢p¢ndent ¢xaminer's statement
I hY4ve completed my ¢xAminati¢m. l ¢onfrn that no matcrial rnatter5 have come to my gttenlion in connection
with the cxaminaiion which gives me cause to believe that any ma￿141 r¢spe¢i:
. the &L£ountin8 rccords were not kepl in a¢¢ord8nce with section 130 of the Charities Act. or
the accounts did not Kcord with th¢ a¢¢ouniin8 records. or
the accounts did rtoi compty with the applicable requiremellts ¢ortcernin8 the forn) and content of
accounts set out in the Clwities {Accounts and Rep(rts) Rcgulalions 2(X)8 other than any requireTn¢nt
thyt th¢ accounts giv¢ a'tN¢ and fair. view which 15 not a m&ttcr considered as p8rt of an independent
examinatiou.
I have no concerns and have wrne xross no other matters in connection with ibe exATnination to which
attent
n should
awn in this Tewrt in order ¢0 enable 8 proper underswiding of the accounr5 to b¢ reached.
Simon Llrowtt LIA ACA DChA
Azcts Audit Services
Bulman House
Regent C¢ntr¢
New(￿lIe upon Tyne
NE3 3LS
Azets Audit Services is a trading of Az¢LS Audit Services Limited

Joseph Brough Charitable Trust
Statement of financial activities for the year ended 31 March 2024
Note
RestrKt¢d Endowrnent
ds
nd
Total
2024
Total
2023
Income endoTThients from:
Investsncnl incom¢
78,812
7&812
50,176
Total itt¢ome #Dd endowments
78,812
7&812
50,176
Expenditu￿0￿.
bTrv¢stmeni management Costs
Charitable activities
2,811
2.811
7,719
49,457
49,457
87,160
Total expendilure
49.457
2,811
52268
94,879
Gainsl(loss¢s) on inve5tsnent a&8¢ts
214.591
211591
1130,090)
N¢t ineornel(exptndilure) #Dd
oyemenl on fullds
29,355
211,780
2.157,668
241.135
{174.7931
Total funds brought forward
26,242
2,183,910
2.358.703
Tothl funds carried foTwaTd
55.597
2J69.448
2,42S.045
2,183,910
All of the #bove resulL5 ore derived fTom cciiiinuin8 operarions. All gains and losscs which were incurred in
the current year and WIOT year are includfAJ abov¢. The compwat?ve figures for cach fvnd are shown in lh¢
noi¢y to the accounis (ttole 2).

Joseph Brough Charitable Trust
Balance sheet as at 31 March 2024
,Yote
2024
2024
2023
2023
x¢d ￿5$e1 inveitmeDIs
2J69,448
2,033,157
Current assets
tkbiors
16.753
7,131
Cwh ai bank and in hand
45.844
168.602
Total current wets
61597
17i,733
Creditor5: 4mouttts falling due
within ont yeor
(24,980)
Net £urrethi assets
5S597
150,753
Total assots legs Current liahllilies
2.425.045
2,183.910
The funds of th¢ Cbarlty:
Endowment tiuHts
2J69,448
2,157,668
Reskncted income funds
55097
26.242
Total eharlty funds
2,425J145
2,183,910
The financial slatements on pa8￿ 5 to 13 were approv¢d by thc Tnts￿ on 18 SeM¢mb¢r 2024 and wtre
signed on its beha]f by..
Paul Faryuhor
Treasurer 4nd Director for Cornmunlty Foulldation serving Tyne & W¢#r attd Northumberland
Tru$t¢¢

Joseph Brough Charitable Trust
Notes to the financial statements for the year ended 31 March 2024
Accounting Policies
Basis ol prepTrtio
The financial .siatements have been prepared on a going concern basis under the historical cosi convenLiuD as
modified by the revaluation of li￿ed Investhien￿ The financial statements have been prepared in accordance
with Accouniimg and Reporting by Charities: s￿￿￿ent of Recommended Practice 8ppli¢able to chtirities
preparing their accounts iti accordance with the Financial Reporting Standard applie8ble in the UK and
Republic of Ireland (FRS 102) (effective l January 2019)- (Charities SORP (FRS 102)), the Finaticiai
Reporting Standard applicable in th¢ UK and Republi¢ of Ir¢land (FRS 102) alld th¢ Chariti¢s Act 2011.
Joseph Brough Charitable Trusi meets the defmition ora public benefit entity under FRS 102. The TrusLee
considers that there are no material uncertainties about the CharÈty's abiliiy to Loniinue as a ￿L)ing CL)ncern.
b)
C¥sh flow
The Trutst 15 a small eniity au4 as such, it tsken advantsge of thc exemption from weparing a Cash tlow
stsicment under the ternis of Scclion 7 of Firtancial Reporting Stsndard 102.
IDcome and expendlture
tnvestmeni income. dwsit interest and exp¢ndiwTE are included in the fuwlcial slatemenls on an aCCTua15
basis.
d)
Resour¢es expcDded
Liabilities are recognised & re¥iTrur¢e8 expended as as th¢re 15 a legal or co￿l￿¢t[Ve obligation
committing the charity to the expenditure.
Grani commilm¢n15 are accounted for oo an a¢¢n￿[s. basis. once aroroved by the Trustre.
Ch#ritabl¢ 4clivitieJ
Costs of Lharithble aciivities irJ¢lude gr4nts ll￿de and the adminis1￿tIon costs associated with granDnakin8.
GovtrnaDCC Costs
GoYeman¢¢ costs of the I njsi hav¢ been met by its Trnstee.
Inv¢stJlleTrts
InvL%tsnents are stated at market Yah￿ at the year end and any gain or loss ott investhients is taken to the
staten￿nI of Financial Activities.
h)
Penn•n¢nt endowrnent and restric¢¢d lu#ds
The pern1￿¢nt endowmeT]t fitnd i5 th¢ Joseph Brough Charitsble Trust Rese￿e. 'Ibe from this is
applied to the restricied fimd a￿d utilis¢d in accorthcc with the lenns of the c￿dOW[ne￿¥ which stste5 thai the
monies may be used tl) fill￿er the objects of the charity.
i)
Debtors
Dividend5 and illieresL receivable are srated * the amount due to be receiv&t

Joseph Brough Charitable Trust
Notes to the financial statements for the year ended 31 March 2024
(continued)
Aeeounting Policies (continued)
i)
Cash a¢ b4Thk and band
Cash at bank and in hand includes cash and shon temi highty liquid inv¢strnents with a short Mati￿ltY or
Dwelve months or kss from the date of acquisiiion or opening of the dep)sit or similar account.
k)
Creditors #Dd provisio￿$
Creditors and Provisions are rccogniscd where the charity bas a preseni obligatiun resthltit)g from a past Lvent
that will probabty result in the transfLT ol funds to a third paty and the amount due tu setile the oblig&ion c
be measured or esliM￿ed reliably. Thi5 includes grdnts payable when the offer is approved and ¢onveyed to
the recipieni. Creditors and provisions are nmnally rccognised ai their settlemeni AmounL
Judgew¢nts and key sources of estlJDatioD unfertginty
Thc pr¢paralion of th¢ fmancial S￿eMents requir¢s rn¥na8emLni kn make jud8ements, estim￿¢S and
a¥sumplion5 that atTeet the amosjnts reporred. These ¢stirnates and juitgeTnents are con(inually revicwed and are
b&4ed on ¢xwienc¢ and othcr facior% includin8 expec￿10￿$ of fyNre events are ￿lieVed w b¢
reasonable under the eircurnstancu.
Th¢re ar¢ no such judgements within the fIr￿1¢]￿l sthtrments.

Joseph Brough Charitable Trust
Notes to the financial statements for the year ended 31 March 2024
(continued)
2 Statement of Financial Activities prior year fund comparatives
Restricted Endowment
funds
fuDd
Total
2023
Ineome and eodowmettts from:
Invc5trn¢nt income
50.176
$0,176
Tot*1 Income A￿d ¢ndowmeuts
50.176
50.176
Expendlture on:
Investment managemetsi ¢osts
Charithble artivities
7.719
7,719
87,160
87,160
Total ex￿ndItUre
87,160
7.719
94,879
Lok%s on investmeni as￿ets
(130,090)
{130,1)90)
Nei inco]JJe and mov¢m¢n¢ on funds
Fund balanc¢5 broughi forward
(36.984>
(137.809)
{174.793)
63.226
2,295,477
2J51,71)3
Fllnd bal*nee8 egrrled forward
26,242
2,157,668
2,183,91
3 Taxation
The Tnjst is a registered Lh￿ty and its investment I￿£0me is not subject to in¢ome, ¢4Pital gains or
corporation provided that the income generated is applied io charithblL purposes.
4 Investment Ancome
2024
2023
Dividend5 and inlcrcst fmm endowment fund invesmients
7&812
50,170

Joseph Brough Charitable Trust
Notes to the financial statements for the year ended 31 March 2024
(continued)
5 Charitable activities
The Joseph Brough Clwitsbl¢ Tnjst undenakes its charitsbl¢ aciivits¢s tknugh grantmBkin&
2024
2023
Gmis payoble
Direct COSts- 8fdnts administration fee
Dircct costs- bank charges
44.427
82.130
30
49.457
87,160
Grants awarded durin8 the year ended 31 March 2024 wejr."
P.R.O.P.S North East
I'h¢ Dr Adl¢r Support & Ilelp Group
Bright FuluTes NE
FeDham Aswiation ofResidents
St. Martin's Centre Pamcrship
Diff¢r¢nr¢
County Durhgm Community Foundation
(ir¢ggs Foundation
Total grants awarded 2024
5,000
2,500
7,500
7,500
1.927
iu,Ih)o
3,￿0
7,000
44,427
'[ otal grants award¢d 2023
82,130
The T￿￿t does not ernploy any (2023.. rM)De) and th¢r¢for¢ has incurred ao costs during the year
(2023.. £nil).
'lTh¢ independeni examinarioll f¢es are paid by the parent chaTitable ¢ompony and 8re included irt the
¢on5olidaied accounts.
io

Joseph Brough Charitable Trust
Notes to the financial statements for the year ended 31 March 2024
(continued)
Fixed asset investments
Listed
inv¢stments
Market valu¢ at l April 2023
Additions
2.033,157
1,932.208
Disposals
{1,810,508)
Realised gains on disEMMal
5.029
UnreaIised ￿1￿$ on rcvaluatton
209,562
MArket value 8t 31 March 2024
2J69,448
Cost ¥131 Moreh 2024
1,932208
Cosi at 31 Marcb 2023
1.697,593
l.isted investtnents are 5ununarised &s follows'.-
2024
Markcl
Value
2112.1
Market
Value
UK Fixed IntcrL'st
166,072
UK Equities
575,491
64,819
Ov¢rws Equiiies
Collective Investhjeni Schemc5
952.499
2J69,448
274,276
2J09,448
2,033,157
Debtors
2024
2023
Diyidcnds and tnt¢r¢st Receivable
1&753
7,131

Joseph Brough Charitable Trust
Notes to the financial statements for the year ended 31 Marcb 2024
(eontinued)
Creditors: amounts falling due within one year
2024
2023
Grants payable
24,980
Funds of the charity
Ba]an
l April 2023
trtcome Expenditure 04trts and
I￿eS
Balance
31 March
2024
Pernianent endowmcni fiujd
2,157,668
2,811
214.591
2￿9,448
R¢$tri¢ied fund
26,242
78,812
49.457
55,597
Total fund8
2,183,910
78,812
52,268
214.591
2,425,045
l O Analysis of net assets between funds
Restricied Endow'ment
funds
funds.
2024
Total
investm¢Dts
2,369,448
2J69,448
cU￿ent ass¢t$
62,597
62.597
Current liabilitiC5
(7,0(Ml)
[7,￿1>
Total net &sseL8
55,597
2.369,448
2,425,045
I l Transactions with the Trustee and Related parties
During the year the Tn]st mad¢ pavmenL% iottuing £5.000 {2023.. £5,IKM)) to its Trustre for administrative
servi¢es provided in relation to the paymenL of grJnts.
12

Joseph Brough Charitable Trnst
12 Ultimate controlling party
The ultimate parent undertaki￿0 and controuing party is Con)muniry Foundation suving Tyne & Wear And
Northumberland, a cotnpany incorForated in England whose company nutnber is 02273708. The consolidat
f￿all¢la1 staiements of Community Foundation servillg Tyne & Wear and Northurnberland can be obtained
from Philantbropy Hous¢, Woodbine RoaÉi Gosfortl4 Newc&5tJe upon Tyne, NE3 IDD.
Community Fotlndation serving Tyne & Wear and Northurnber]and is the smallest and the largest group io
onsolidate ihe organisation's fmancial results.
ij