Charity number.. 227620 STEWARDS OF THE INCORPORATED COMPANIES OF THE FREEMEN OF NEWCASTLE UPON TYNE (THE TOWN MOOR CHARITY) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 SEPTEMBER 2024
STEWARD5 OF THE INCORPORATED COMPANIES OF THE FREEMEtrI OF NEWCASTLE UPON TYNE (THE TOWN MOOR CHARITYI CONTEiirs Page Reference and administrative d¢tsi15 of the charity, ils truste and aqlvlsè Report of tho Committ*• of Stewards Independent •uditorfs report on tho financial stat8m•nts statement of linancial actlvitios 7-10 Balaneo shwt 12 Statemgnt of cash Nows 13 Note8 to tho financial ststom•nts 14-30
STEWARD5 OF THE INCORPORATED COMPANIES OF THE FREEMEN OF NEWCASTLE UPON TYNE (THE TOTM MOOR CHARITY) REFERENCE AND ADMINISTRATIVE DETAILS OF THE cHARY, ITS TRUSTEES AND ADVISERS FOR THE YEAR E14DED 29 SEPTEP18ER 2024 Trustees H Ak¢er (appointed g Ocjober 20231 P Anderson C G Atkinson N B Atkinson A R Bainbridge T R M Cooper lappginted 7 O¢tober 20241 K Hall (resigned 9 October 20231 J Johnson {igned 7 May 20251 B Ne5bitt P Powell P Summerhill S W D Walker Irewned 3 July 20241 D G Wauoh FCA H D Wilson Charlty reglstered number 227620 Princlpal offlco Moor Bank Lodge Claretnont Road Newcastk vrK)n Tyne NE2 4NL Indepondent audltor Arm51rong Watson Audit LimTrted One StravA)erry Lane Newcastle Up Tyne NE14BX Bankers Lk)yds Bank PIC GY Street Newcastle upon Tyne NE99 ISL Inv8stm•nt Managors CCLA Inve51menl Management Lirnrted One Angel Lane London EC4R 3AB Chairman H O Wi15011 Vlce Chalrman N B Atkn'nson Hon TreaBurer D G Waugh FCA Page 1
STEWARDS OF THE INCORPORATED COMPANIES OF THE FREEMEN OF NEWCASTLE UPON TYNE ITHE TOWN MOOR CHARtTYI REPORT OF THE COMMirrEE OF STEWARDS FOR THE YEAR ENOED 29 SEPTEMBER 2024 The Stewards Committee are pleased to present their report, together writh the audited financial statements of the Charity for thè year ended 29 September 2024. Referen¢e and adrninisliative details set out on page 1 fomi part of Ihis report. The linanual statements comply with the accounting policies set out in note 2, the Chants"es Act 2011. the Charty's goveming document and the Statement ot Recommended Practice Accounb"ng and Reporting by Charities.. Statement of Recommended Practice applicabEe to charities P paring their accounts in aCCordce with the Financial Reporting Standard applicable in the UK and RepuNic of IreLin(I IFRS 1021 strLFCtur•> governan and management . Govcrnlng document The Charity 15 registered wth the Charity Commission as The T(yn Mooi Charty, Registration Number 227620. The Stewards Committee of the Freemen of Newcastle UPDn Tyne rnanages the affairs ol the Freemen of Newcastle upon Tyne in accordance wlh the goveming dments,. the Newcastle uwn Tyne Town Moor Act 1988 and the Rules and Orders of Ihe Stewards of the Incorporated Ccmpanies ol the Freemen ol the City of Newcastle upon Tyne. b. Re¢ruitment and appointment of Stewards Committee The Stewards Committee ig the dY of trustees apw)inted by annual election eh Michaelmas Guild. Any steward 012 Company ol Freemen 15 eligible lo stand lor election. The are 26 active Colnpanies of FTeewnen with 82 Company Stewards. who represent 1,885 Freemen. At tre MiGhadmas Guild, the Steward5 Committee consists.ry of not s5 than 9 and not more than 12 Stewaids shall be eleded under the authonty of Section 6 01 the Newcaslje urM)n Tyne Town Moor Act 1988. Each Steward elected to the Stewards Committee sh4 remain a member of Ihe Committee until the next Miehaelmas Guild or until earlier resignab"on. even shoukj he cease to be a Stewafd In the inlerim perd. Should a member of the Stewards Committee die or resign from the Committee then the Commrtlee has the power lo Go-opl any steward lo fill ony casual vacancy unts"I the m1thlMaS Guild next fdk).n9 such vacanGy. ¢. Inductlon and Support for trusttts In exerclslng dutlès The inducbon and training of the Stewards Commrttee Is dealt wilh dIng lo indTri+dual need and supported by an Information Pack oudining the role and sponsibl15 01 being a trusl@e a5 well as information parochial lo the affairs and good managèment of the Charity. d. Oryanisatlon The Stewards Committee acis as an executive body and is accountable to ttte overall body of Freemen to whom they report on matters of operational and Strateg ygnificance In relatn to Ihe Town Moor threE b.mes 3 yeai al the Corpus Chriskn., Mi¢haelmas and Lent Guilds. The Stewards Committee hold a full committee ffleeling each monlh: wtn other meetings being hdd as and when wuire(l_ The Town Moor SupeTlntendenl is appointed by the Stewards Committee lo effectwely cowidinate the day lo day OFvab"ty)al affairs of the Organisatson in direct working liaison with designated tru51ees. Page 2
STEWARDS OF THE INCORPORATED COMPANIES OF THE FREEMEN OF NEWCASTLE UPON TYNE (THE TOWN MOOR CHARtTYI REPORT OF THE COPIIPIITTEE OF STEWARDS (CONTINUEDI FOR THE YEAR ENDED 29 SEPTEAIBER 2024 Slw¢ture. governance and managemenl Icontinued) e. Related partles 1. Town Moor Money Charity Ilinke(I chartyl Initially Ihis was part of the Tovm Moor Charity, bul in 1967 the Chaiity Commission adv seth.ng up 8 separate Charily and Ihis was encapsulated in the provision of The Charities ITown Moor Money Charity, Newcastle upon Tyne) Order 1970. The income ol the Tw Moor Money Charity is Yerived from the letting r)f Intakes. The Stewards Committee are Ihe body responsible foT alk)salion of land and negolmtion of renls for Intake areas. An Intake 15 an area of land rkol Current used lor g132ing as specified in the Newcasde upon Tyne Town Moor Act 1988 for which the overall area Set aside fiK sucj) purposes must not exceed 100 acres in total. In 2018, permission was granted by the Charrty Commission to treat the charity as a linked charity for registialion and accounting purposes. The fund5 Qf the Gharity ale repM)rted wpthin restricted fullds Mlhin these financial slalemenls. The Stewards of the Incorpord Companies of Ihe Freemen of Newceslle upon Tyne is the reporting chenty. 2. Sl Mary Magdalene and Jesus Trust The Freemen have a direct bnk wlh this TTUSI in that members of the Stewards Committee serve on the Boar of trustees along with represenlab'ves of the City Covneil and olhei (zre providing organisab'ons. The Trust, as an Alms House challty, provides an allocated number of bvngal(ws lor Freemen, their wdows and daughters. on18nd whth formed part of the Town [. f. Rlsk management The Stewards Commiltee activety rewew the major risks whith the Charty tsces on a regu13r ba515 and belTeve that by maintaining reserves combined wth an annual review gf the contrds over key finan¢i81 systems. wll provide sufficient resources in the event of adverse conditions. The Stewards Committee have also examined other operali(M)al ané business risks which they face and confirm that they have established systems lo miligale the significant risks. OblècUv¢s and a¢tlvltle$ Policies and objectives The Stewards Committee adopts schemes and p)licies Tegard lo ensuring the effective maintenance of the Newcastle Town Moor, overseeing investments and income generated to fvnd the da1 management and IprOVeMeNt of the Town Mwr, all of which Is aimed al seujring Ihe wellbeing lor graziTrg for future generations of Freemen and safeguarding the open space for the ¢itoens of NeastIe to enjoy traditional rights of 'air and exercise,, in accordance with the Newcastle UKX)n Tyne Town Moor Act 1988. In planning and carrying out the Chanty's 3CtjvrtS for the year, the Stewards Committee have considered the guidaNce pioduced by the Chaiilie5 Cofflmission public benefit. inchjding the guidance 'public benefit. running a charity IPB21'. b. Str8tegies for achieving objectives In e55ence, the strategK direction of the Charity USeS on the Stewards Committeè maintaining and successfully managing the Town Moor for grazing, albert tn an Urb environment, whilsl also knoking lo the eonlidence of the generJ put1¢ in this major enwronrnentsl asset. Under the Act, the Town Moor is safeguarded from en¢roa¢hmenl and iisk of development by the continuatn of grazing therefore land rnanagelllenl Issues nlre around sustaining proper stsndards of agrKuttural culb"vats'on and mainlenartce of bounclariès whilst trying lo balance bio4wersity. The overnding aim Is to mainiain the required siandard within budget and which is dependent upon the InMe in any fisc yeai. Page 3
STEWARDS OF THE INCORPORATEO COMPANIES OF THE FREEMEN OF NEWCASTLE UPON TYNE (THE TOWN MOOR CHARITY) REPORT OF THE COMMrrrEE OF STEWARDS (CONTINUED) FOR THE YEAR ENDED 29 SEPTEII8ER 2024 AchlevemÈnts and performance a. Main achlevemenls of the Charity Our slatutory commilfflents and chaniable objective5 conb"nueiS lo te rnet 1ncluding the overriding obligats.on lo graz8 the Town Moors. The Town Moors were maintained and kept available to the public for air-and-exertyse. As part ol thi5 objectwe. we obtained extemal funding for, and arranged the instalLItiLN) ol. community cricket wickèts tsn Jngrazed 81eas of Town Moor land. part of our environmental irnprovement and dimate change miDgaboll plans a major programme of treelhedge planting projects across the K4oors was progTes5ed. As part of OUT enthronmental assets manaJemenL we Commissioned a comprehensive biodiversty and floraUna audit and reporL The lacilitab.tsn ol public events induding MUS concerts. lairgrouThYs, communitylcultural èvents, arcus and religious gatherings. Our strategy of engagement vAth a wtde range of stskehokler5 conbnued, Including." the production ol informational videos, Issuing a 'Freemen' Calendar to all Freemen and giwng presentab"oThs lo local residents. Working c105ely with cncIlI0[S and City offir5 on Town Mr reted prDje¢ts. irTrcluding participation in the Citys Blue Green Cty drainage and flood risk mib"gabon pro9ramme. Financial revlew Flnancial roview Nel Incorne, after net gain5 on Inveslmenls, was £493,800 12023." net ItKome aftei net losses on invèslrn@nts Was tt58.0191 as disck)se¢J in the statèmenl of financial acknwts.es w page 11. The lotal funds 8t 29 September 2024 amounted lo £5,610.981 12023 £5.117.1811. The principal sources of income comprise nts. wae3VeS. le"ng$ and Investrnenl income and in accDrdance with the piovisions of ihe Newc85de u7 Tyne Town Moot Acl 1988. the Slewaids Commrttee applies the Income to the Improvement and management of the Nèwcasue Town Moor. b. Reserv¢s policy The Stewards Commiltee have exarnined the requirement foT free erVeS whh are those unrestricted funds nol Invested in fixed assets. deggnated for specilic purposes (Y OthEe committed. The trustees c0115idei that the reserves held are sufficient lo generate income to meet thè costs ol the maintenance. reinstalemelll and anagement if there was a drop in ntaI or othei income from the Town MO The free ie5erve5 not Invested in fixed assets, designated and restricted funds at 29 September 2024 Ere £594.23312023." £585.609I. The re51ricied capital reserve of the Charity at 29 September 2034 amounted to £1,644,66912023." £1,496,583) and 15 held specilicalty under the NeKastle LTrPM)n Tyne Town IAoor Act 1988 1? be used to finance Improvements lo the Town MOOT. The total restricted funds ol thè linked chanty 8129 September 2024 Ere £90,993 (2023" £79,708). Page 4
STEWARDS OF THE hNCORPORATED COMPANIES OF THE FREEMEN OF NEWCASTLE UPON TYNE ITHE TOWN MOOR CHAMrrfi REPORT OF THE COMMrrrEE OF STEWARDS (CONTINUED FOR THE YEAR ENDED 29 SEPTEMBER 2024 . Investments pollcy The Charity's investment is lo have a dNerse base to spreacl risk whilst simultaneously aiming for capital appreciation al lea51 equivalent lo inflat and an inrne turn wfficient to meet lulure capi181 expenditure eeds and ongojng and cydi¢al operational Costs not recovered from income trom operalrons. The inve5trnenls held by the Charity a quoted investments from which incomÈ of £123.62612023.' £122,328) was received during the year. The quoted investments are mainly professionally managed by CCLA Investment Management Limrted (Charities offJaI Investrnenl Funds). The fair value of the Inveslrnenls Wds £4.513.900 12023.. £4,093.8751. The Stewaids Commrttee considei the investment reiurn to be in line with the inve51menl obpclNe5 sel. d. Plans for future p•rlod Funding wovi5ion is being set aside for caimtal and revenue scheme5 indjding, • Ongoing fence+line and access gateways replacement and mainlenanGe. Ongoing agricultural operations, including18nd m8nagÈment a¢tsvities. Drainage and ftood nsk mitigation on the main Town Moor. Ongoing lacililalioll of events and fairs on Moors Environmèntal imwovement schemes: Indu¢Jing further tree and hedge atIng . Continuing to enhance cornmunicath"ons. improwng engagement wth ¢panY Stewards, Freemen end Dlher stakeholdeFs. Specialist piofessional Servi in respe¢l of govemance. lease managemerbt and thÈ execub'on of Freemen responsibilities in relation lo the Town Mrx)rs. statement of trustees, Mpon$lbllltles The Iruslees are responsitde for preparing Ihe Report ol the Commitiee of Stewards and thè financial statements In accLYdance with applicable law and Unrted Kingdom Accn[l"ng Standard5 Iuniled Kingdom Generalty Accèpted Accountsng Practice). The law applicable lo chanties in England & Wale5 requires the tnjstees to prepare finanryal stslements lor each financial year which give a true and lair view of the state of affairs ol the Charity and ol ils in¢oming resources and appliealittn of rèsourcès, including its income and expenditure, for that period. In prepanng these financial slalemenls, the trustees are required to. select suitable accounting poliaes and1hen apY them consi51enly.' ' Dbserve the methods 8nd Pnncls of the Charrttes SORP IFRS 1 Q21, * make judgments and accovnling esb'mates that are reasonable and pwudent slate wtrTelhei applicable UK Acwunb"ng Slandards {FRS 1021 have been Idkjwed, subject to any material dèpartures disdosed and explained in the financral statements". prepare the financial stalements on the going concem basis unless Il is inappropriate to PTesume that the Charity will conlinve In business. The trustees are reSponsie for keèping adequate accounb.ng record5 that are Suffic1 to show and explain the Charity'5 Iransaclion5 and disclose wth reasonable accuracy at any time the financAal ptssilirx) of the charity and enable them to ensure that the financial statements comply the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions ol the governing Ll)cuments . They are also responsible lor safeguarding the as5eis of the Charity and hence for tsk.ng reasonabie steps foT the prevention and delecb'on of fraud antt other iiregularilies. Paoe 5
STEWARDS OF THE INCORPORATED COMPANIES OF THE FREEMEN OF NEWCASTLE UPON TYNE (THE TOWN MOOR CHARITY) REPORT OF THE COMMITTEE OF STEWARDS ICONTINUEDI FOR THE YEAR ENDED 29 SEPTEMBER 2024 Olsclosure of informatlon lo audlloF In so faT as the trustees are awa. there is no relevant audit infomialion of whh the Chanws auditor 15 unaware. and that Iruslee ha5 taken all the steps that ought lo have been taken as a tiuslee in order to be aware of any relevant audit inf0rnati and to estsblish that the Chantys audrtor is avtaE of that information. Approved by ordw ot the MeMlS ol the tard of trustees anij Signed on their k*hall by". H Dwilson Chairman Dale 15 M8y 2025 Page 6
STENARDS OF THE INCORPORATED COMPANIES OF THE FREEMEN OF NEWCASTLE UPON TYNE (THE TOWN MOOR CHARrrYi INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF STEWARDS OF THE INCORPORATEO COMPANIES OF THE FREEMEN OF NEWCASTLE UPON TYNE (THE TOIWN MOOR CHARITY) Opfinlon We have audrted the financial statements of Stewards of the Incorporated Cornpanies ol ihe Freemen of Newc2stle upon Tyne (The Town Moor Charity) (the 'ch3rity1 for the year ended 29 Seplembw 2024 vthich Gomprise the slalemenl of financial actIv"eS, the balance sheet, the statement ol cash flows and the related noles. induding a summary of significant acu)unbng rdioes. The financial re)rtIng frarnework that has been apie in their preparats"Ort is applicable law and Unrted Kingdom Accounting Standard5. including Fin8ncial Reportsng Standard 102 'The Financial Reportsng Standard alcate in ihe UK ancs Reptjblic of Iieland, (United Kingdom Generally Accepted Accounting PractKe). In our opInn the financk81 statements" gwe a true and fair wew ol the stale of Ihe dlarrtls 8ffairs as al 29 September 2024 and of rts incoming resource5 and ak)F4ication ol rèsources foT the yeai then ended," have been propedy prepared in a¢¢ordance wth United Kingdom Generally Accepted Accounting Prodice". and have been prepared in 8ccordance wrth tre requirements of the Charits"es Acl 2011. Basls lor opinlon We conduded our audit in accordance wth Internabal Standards on A1b'n9 IUKI (Ists IUKII and applicable law. Our responsibil"eS undei those standards are further descnbed the Auditorfs reSponsiblts"e$ lor the audit of the financial statements section ol Otsf report. We are Independent ol the cnarity in accordance with the ethical quirements thal are relevant to audit of the finanual statements in the United Kingdom. inclu(Jing the Financial Reporting Council's Eihical Stsndard. and we have fulfilled our other ethical responsibilities In accordance wilh these requiremen15. We telieve that thÈ audit een we have obtained is sufficient and appropriate lo provide a basis for our Inion. Concluslons relatlng to golng concem In auditing the financial statements, we have concluded that the tru5tee5' use of Ihe going concern basis Df accounting in the prepaialion of the finanual statements 15 approprrate. Based on the work we have FErformed: we have not ents"fied any materia uncertainties relating to events or conditions that. indwidualty or collectively. may cast significanl doubt on the charity's abilty IL) continue as a going concern for a period ol al k3St ve rnonlhs from when thè financial statements are aulhorised for is5U8. Our responsibiklies and the Te5ponsibilits"es of the Irustees with res[1 to going concem are described in the relevant sections of this Tewt. Page 7
STEWARDS OF THE INCORPORATED COMPANIES OF THE FREEMEN OF NEWCASTLE UPON TYNE ITHE TOWN MOOR CHARITY) INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF STEWARDS OF THE INCORPORATED COMPANIES OF THE FREEMEN OF NEWCASTLE UPON TYNE (THE TOWN MOOR CHARITYI ICONTINUEDI other infomjatlon The other information comprises the infomialion induded in Ihe annual report other than the financial statements and our auditorfs report thereon. The trustees are resp)nsit4e lor Ihe Dther informats.on contained within the annual report. Our opinion on the financial 5talement5 does not co¥er Ihe other information and, ex pt lo the exienl otherwse eXpl1t[Y stsled In our report, we do not express any fonn of assurance eon¢lusic)n Ihereon. Our responsibility is lo read the other Infom)ati and. in doing so. consider whether the other infomiation 1S materially inconsistent with the finanaal statements or cmjr knv•Aedge ¢btaned in the course ol the audit, or otherwise appears to be materialty misstated. If we identsfy such malerol inconsistenaes or apparent material m155talemen15. we are required lo determine whether ihis gives rise lo a Materi misstatement In the financial ststerrents themselves. If, based on the work we have performed. we condude that there is a material mi551atemenl ot thi5 Othei inforfflabon, we are required to port that lacL We have nothing to report In thi5 regard. Mattors on which wo are required lo report by exception We have nothing lo report in respect of the frAbvAng malters where the Charib'es lACunts and Reports) Regulations 20C18 requires us to ieFQrt to you if, in our OTri0n.. the infMa.On given in the trustees. report is inconsistent m any rrraleii81 spect with the financial stalemenls." or suffi¢ienl accuunts'ng rewds have nol been kepl or the financial slatemenls are not In agreement wrth the accounting records and retu¥ns". or we have not received all the InformatM and explanab.ons we require for our audiL ResponBibilities of tru8tee8 As exF4ained more fully in the trustees, responSih"h"eS stalemenL the trustees are responsible lor the preparation of the financial statements which givè a true and fair wew. apd lor such internal control as th8 trustees delemine is necessary lo enable the preparab'on of finanGaJ statements that are free frorn material tnisslatemen( whether due lo fraud lx error. In preparing Ihe linancial stalemenls, the Injslees are wponsible for assessing the charitys ability to continue as a going con¢em, discknsing, a5 apFblÈ. Matr$ related to going concern and u51ng the going concern basis ol acrounling unless the trustees either intend to liquhlate the challty N to cease opwalions, or have no realistic alternative bLJt to do SO. Page 8
STEWARDS OF THE INCORPORATED COMPANIES OF THE FREEMEN OF NEWCASTLE UPON TYNE (THE TOWN AIOOR CHARiffl INDEPENDENT AUDrroR'S REPORT TO THE TRUSTEES OF STEWARDS OF THE INCORPORATED COMPANIES OF THE FREEMEN OF NEWCASTLE UPON TYNE (THE TOWN MOOR CHARITY) ICONTINUEDI Audltor's responslbilltle$ for th• audft of the flnan¢lal $tatefftents We have been appointed a5 auditor under sects.on 144 01 the Charrtes Act 2011 and report In accordance the Act and relevant regulations made or having effect thereunder. Our objecttve5 afe to obtain reasona@ assurance ab)ut whether financial Slalements a5 a whole are Iiee from material misstalement, whether due lo fraud or error. and to issue an audilorfs report Ihal includes our Oplnion. Reasonable a55urance Is a high level ol assurance, but Is not a guarantee that an audit conducted in ac¢ordan¢e with ISAS IUKI will aws detect a material misstatement when it exists. Misstatements can arise from fraud or error and are ¢onsMlered malerial if. indivmlualty or in the aggregate, they could reasonably be exCted to Influence the economic deu510ns of users taken on the iksis of these financia 51alements. Irregularities. Including fr8ud. are instances of non-compbance wlh Iws and regulations. Wè design proGedures in line with our fe5pM)nsibililies. oudined above, lo det1 material misstatements In respect ol irregularitie5, including fraud. The eXt ID which our edureS are capable of deteGtrng irregularitses, Including fraud is detailed below. ased on aur understanding ol the Charity, discussions wlh Irustees who are those charged with governance, we considered that the most significant laws and regulation5 that have a direct impact on the financial slalemenls are FRS 102, the Charrties SORP IFRS 1021. the Chanties Act 2011. the Newca511e upon Tyne Town Moof Ad 1988 and UK taxabon legisL4tion. As part of the enga9emenl team dsscussion about the suscepb"bilty of the Gharity's financi81 statements lo malerial misstatement due lo fraud, we did not idenbfy any areas wilh an increased nsk. Ou¥ audit procedures were designed to respond to entified risk& induding non-compliance wth laws and regv13tions and fraud. which may have a matenal effecl on the financial stslernenls. Our au11 procedures included but were not limited lo.. enquiry ol the Iruslees and reyiew of any relevant COespOndence with legal advisers gardIng any instances of non40MlanCe with laws and regulaiions and any adual. suspected or alleged fraud, * c0mrnunicatit identified l•s and regulaTr"ons and the risks of fraud wrth our engagÈment team and remaining alert to any Indicaknons ol non•compli3nce or fvaud. gaining an understanding ol the internal contrc4s estat4i5hed lo mib.gale risks relaled lo traud." examining sUppOn9 documents for all matenal balances. t(ansaclicffi5 and disclosures, ' review of the minutes of the Stewards Commrttee", review of a¢counling e5ty"matÈs for trustee ovetride and bias", . analytical procedure5 10 identify any unvsual transath'ons". identifying and testing journal entties. Owng to the inherent limitatn5 of an audit, there 15 an Unavoidab risk that some rn8lerial misstatements of the financkql statemen15 may not be detected. even Ihough the at*1it i8 property Flanned and performed in accordance wlh the ISAS IUKI. The potential effest5 of inherent limilab'ons are partKularly signi[nI n the (8se of misstatement resulting from Iravd becausè fraud may involve collusion. forgery.. intentional omissh)ns, misrepresentations or the overridè ol Internal conlrds. The primary responsibility for the prevention and detection ol irregularrties including fraud rests with those chaiged wrth govemance. A further description ol our responsibilities lor the audit of the finanaal slaterTtentS 15 located on the Finanual Reportino Gouncil's websrte at wvA¥.frc.or .uklaudJlorsres nsibibtes. This description forms part of our aULlilo¢s report. Page 9
STEWARDS OF THE INCORPORATED COMPANIES OF THE FREEMEN OF NEWCASTLE UPON TYNE {THE To7fiN MOOR CHARITY) INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF STEWARDS OF THE INCORPORATED COMPANIES OF THE FREEMEN OF NEWCASTLE UPON TYNE (THE TOWN MOOR CHARITY) ICONTINUEDI Us• of our report This report Is rnade sdely lo the chanvs trustees. as a y. in 3cex)rd3nce wth Part 4 01 the Charthes IA¢¢ounls and Reports) Regulations 2008. Our audit work has been undertaken so that w? Might stale to the charitys trustee5 those matteTS wè are required to stale lo them In a auditor's Teport and lor no other purpose. To the fullest extent permitted by law, we do not aecepl or assume responsiblity lo anyone other than th2 charity and ils tru51ees. as a bY, for 1r audit work. for this report. or for the opinion5 we have formed. Armstrong Watson Audit Limitod statOry Audrtor5 One Strawberry Lane Newcastle upon Tyne NE14&X 22 May 2025 Armstrong Watson Audit Limrted are eligit4e to acl as auditors In lemis of 5eclw 1212 of the Companies Act 2006. Page 1 ti
STEWARDS OF THE WCORPORATEO COMPANIES OF THE FREEIqEN OF NEWCASTLE UPON TYNE (THE TOWN MOOR CHARirYi STATEMENT OF FINANCIAL ACTivmES FOR THE YEAR ENDED 29 SEPTEII8ER 2024 Unrestrietèd funds 2024 Restricted funds 2024 Total funds 2024 Total runds 2023 N¢Ae Income from". Grants and donations Chaiitsble actsvities other trading acliyities Investmen15 Olher income 23,971 450,353 17.948 191.541 140,621 450 24,421 4B5,900 17,948 192,328 140.621 845 612,552 15,395 150.614 25,492 35,547 78S Tolal income 824.434 36.782 861,216 804,898 Ejtpgnditure on: Charitable activities 761.944 25,497 787,441 454. 78T Totsl éxpenditure 761,944 25,497 787,441 454, 787 Not income 62.490 271,939 11,285 148,086 73,775 420.025 350.111 (92.092) Nel gainslllossesl on Investments Netmovemenl in fvnds 334A29 159,371 493,BOO 258.019 Reconcilia0 of funds: Total funds brought forward Nel movement in funds 3,540.890 334.429 1,576,291 159.371 5,117,181 493.800 4,859, 162 258,oig Total funds carried forward 3,875.319 1,735.662 5,610.981 5,117,187 The Stslemenl of finanual aclivit*s indudes all gains and losses CjniSed in the year. All income and expenditu derives fiom continuing a(b"tieS. The note5 on pages 14 to 30 lom) part of these financial statements. Page 11
STEWARDS OF THE INCORPORATED COMPANIES OF THE FREEMEN OF NEWCASTLE UPON TYNE ITHE TOWN MOOR CHARITY) BALANCE SHEET AS AT 29 SEPTEMBER 2024 2024 2023 Note Flxed ass•ts Tangit4e assets Inalienablè and heritage assets Investments 12 52.092 55,569 13 14 4,513,900 4,093, 875 4,565,992 4. 149,544 Current as50ts Biological assets and sl(*k Debtors 16 41.808 46.041 2,687,753 17,510 325,049 2,278.430 Cash at bank ané in hand 2.775,602 2,620,989 Creditors.. amwnls falling due wlhin one year 18 11.730.6131 (1.653,352) Net current 85$èts 1.044,989 967,G37 Totsl net assets 5,810,981 5.177.181 Charity fund5 Restricted lunils". Capital re5eFve Linked charity 19 1.644,669 90,993 1,496,583 T9,70S 39 Total restrKted funds Unrestncted funds 19 1.735.662 3.875,319 1,576,291 3,540,890 19 Total funds 5.610,981 5,117,181 The financial staiements We approved and authorised lor issue by the trustee5 and signed on their behalf by." H D Wilson Chairman Date. 15 May 2025 The notes C page5 14 10 30 4orm part or these financial statements. Page 12
STEWARDS OF THE INCORPORATED COMPANIES OF THE FREEP4lEN OF NEWCASTLE UPON TYNE ¢THE TOWN MOOR CHARITY) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 29 SEPTEMBER 2024 2024 2023 Cash flows Irom operating activiiies Net cash used in operating actsmties 230.126 287, 702 Cash flow5 Irorn Investlng acttvlties Div#lends, interests and rents from investrnents pr(eedS from the sale of planl and equipment Purchase of plant and equipment 192,326 150.614 12,250 (43,233) 13.1291 N•t cash provid•d by inv•stltTrg a¢tFYltles 179,197 119,$31 Change in eash and t¥sh equivalents in the year Cash and cash equivalents at the beginning of the year 409,323 2,278,430 407,333 7,877.097 C•8h and ¢a$h oqulv•lerrts at the end of the year 2.687,753 2,278,430 The notes on pages 14 10 30 fomi part of Ihese finanaal statements Page 13
STEWARDS OF THE INCORPORATED COMPANIES OF THE FREEMEN OF NEWCASTLE UPON TYNE (THE TOWN MOOR CHARITY) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 SEPTEMBER 2024 Gen¢ral inforniation The Stewards of the Incofwrated Compans ol the FeMen of Newca5lle upon Tyne lThÉ TowTr Moor Charity) is a registered charity, number 227260. The Chanty is unincorFA)rated and its re9islered offic? 15 MDOI Bank Lodge. Clarefflonl Road. New¢astle utK)n Tyne, ME2 4NL. Accountlng policies 2.1 Basis of pTrparation of financial statements The linancd slalements have teen prepared in accordan with the charib.es SORP IFRS 1021- Accounb"ng and Reporting by Charitiès.. Staternent of Recotnmendèd Practice applitsblÈ to ch8ritie5 prèparing their accounts in accordance wrth the Finanaal Rerts"llg St8nrlard applicable in the UK and Republic of Ireland IFRS 1021 leffethe 1 January 20191, the Financial Reporting Standaid applicaLle in the UK and Republ of Ireland IFRS 1021 and the Charities Ad 2011 Stewards ol the InBorp)rated Companie5 01 Ihe Freemen of Newcastle upon Tynè IThe Town Moor Charity) meets the definif)n of a public benefit entity under FRS 102. A55ets and liatw"lities are initk4lly recognised al hislorical (x)st or Iransactioft value unless otheN4ise Staled in the rdevant accountyng p(Ai¢y. The financial 5talemenis are prepared in sterting which is tre fun¢bon81 currency ol the Charty. 2.2 Golng coneom The Charity has revIed its cash flow forecasts and theo Is a reaSonae expectation that il has a¢Jequate Tesources to continue In operational existen fot at least the next e1ve monihs and on this basis the Charity Irusiees consider to be a g(Mng concem. 2.3 Income All income is iecognised once the Charity has enlrtlement to ihe iorne, it is probable that the income will be feceived and Ihe amount ol irKome re1v3l* can be measuied relk2b1y. The following speofic prAicies are ap[Ad to partculai Gategories ol irKome'. Gifts in kind are InGluded at valuation vthere material. Inve5trnent income is rec(yJnised on a reNable basis. To the exlenl that it re131Ès to lutuie period5, renlal incomè is deferred and includ&J within cdItOfs in ihe bdance sheet. 2.4 Expenditure Expenditure is cOgnised once there is a legal or constructsve obligalion to transfer economic benefil to a third party, it is probable that a transfer of econom knefits will be required In seltlemenl and the amount of the obligab'on can Measu reliably. All eXndItUre ts aOunted for on an accruals basis. incluyve of Irrecoverable VAT. Page 14
STEWARDS OF THE INCORPQRATED COPAPANIES OF THE FREEMEN OF NEWCASTLE UPON TYNE (THE TOWN MOOR CHARITYI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 SEPTEIIBER 2024 Accounting poll¢i•s {c¢tinUed) 14 Expenditure l¢ontinuedl Chariiable exprnditure comprises all costs ol acb"vth"es in fyrt1rance of the objects ol the Charity. Govemance costs ¢ompnse all costs involving the putAic accountability of the Charity and ils compliance with regulation and good pra¢ts"ce. Support costs are allocated on the tjasis ol staff lime spent on each aclwity and are shown in note 7 lo the financial statements. 2.5 Tanglble fixed assets and depreciation Tangible fixed assets cosbng rnore than £1.000 (plant and equipment) and £100 (office equipmenl and rLuTeS and fittings) are ca.talISed and reGognised when future ec[omIC benefits are probable and the cost or value of the asset can be measured rejiatty. Tangible fixed assets 8re inrtialty iecognised al cost After reCogn'0n. undei the cost model, tangible fixed assets are measured al cost less accumulated deWlatIOn and any accumulated impairmènt losses. All costs incurred lo bnng a tangilAe bxetj a5sel into lis intended working condits.on should be included in the measurement ol cost Dèpreaaty'on is Gharged so as to allDcate the c05t of tangible fixed assÈls less theiT residual value over (heir estimated useful lives. as shown below. Depreciab.r is Provided on the follthwng basis.. 2C% straHJht line 20% Strah1 line f 5% reducing balancè 33% straight line Plant and ma¢hinery Motor vÈhides Fixtures and fiitings Office equipment 2.6 Inallenable and heriiage assets As explained in note 13, inalnae and herrtage assets have not Ixen cawtalised or depTe¢ialed. 2.7 Investments Investments are a form of basic ffinancial Instnjmenl and are iniliaty recoonised al cost and subsequently measured al their fair value as at the balance sheet dale using the bid wice. Gains or losses arising on revaluati OT ¢Jisposal are recognised in tbe staternenl ol finanaal a¢twities in the funds in which the investrnents are held. 2.8 Btologlcal assets and stocks Biological assets consisling of livestock are valued at cost sS any accumulated impairment losse5. Other stocks are valued at the lower of Cost ancs net alISab value after making due allowance lor obscAete and slow-moving Stocks. Cost indudes 311 direct costs and an appropriate proportion ol fixed and variat4e overheads. 2.9 Cash at bank and in hand Cash at bank Includes current and dewsit instant access *cnts, and a nOte accounl. Page 15
STEWARDS OF THE INCORPORATED COMPANIES OF THE FREEMEN OF MEWCASTLE UPON TYNE (THE TOWN MOOR CHARITY) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 SEPTEMBER 2024 Accountlng pollcles Icontlnuedl 2.10 Creditors and provisions Creditor5 and provisions are rec(yJnised where the Charty fr.as a Present obligathon Te5uhing from a past event that wll probatAy resull In the transfeT of funds to a Ihird party and the amount due lo setde the obligatron can be measured or esbmated reliabfy. Credrtots and prov1510ns are norrnalty recognised at their settlement amount. Liabilites are iecogn'.$ed at the amount trTat the Chatty antr"upales it will pay lo settle the debt or the amounl Il has feceived as advard payments lor the gools seryices Il rnusl prOVe. Provisions are mea5ureil at the besl esb.mate of the amounts required to settle the obligation. Where the effect of the brne value of money Is maierial, the prOV.On LS based on the present value of those arnounis. discounted al the pre-tax diswunt rate that ects the risks speGilic to the Iiabibty. The unwnding of the discount is re¢(*Jnised In the stalement of financk41 acti'e$ as a finance cost. 2.11 Financial instruments The Charty On has finanaal assets and financial Ik4bilths of a kind that qualify as basic financial instruments. Basic finanaal Instnjments are inib.ally recogrisets at Iransaction value and subsequently measurèd at their settlement value. 2.12 Ponslons The Charity makes conlribuLions to a NEST scheme for all qualifying employee& Employees are automatically enrolled on the pension scheme unless the Charity 15 notified by the ewnployee that they sh lo opt out. The cost of these conknbutions Is charged lo the Statement of Financial Aotiwties when payable. Page 16
STEWARDS OF THE INCORPORATED COMPANIES OF THE FREEMEN OF NEWCASTLE UPON TYNE (THE TOWN MOOR CHARrrYi NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 SEPTEMBER 2024 Accountlng policl•s l¢ontlnuedl 2.13 Fund accounting Unrestricted funds Income and expenditure The income and expendrtvre fund is credf(ed v*ilh income arising from the Charitls 8ctivil.es and is charged wilh the cos15 Involved in the Maln,enan of the Tuwn Moor and Lhe Charity's governanee costs. De619nated lunds General reserve The general reswve represents lunds that are invested to provide inwme lo rneet the costs of Ihe Charity. Town Moor Fund The Town Moor Fund reprèsents funds re1Ve{j lo be used lo finance Ihe Chariws proportion ol agreed Improvernents lo undertaken wrth Ihe City of Newcastle upon Tyne and the Freemen. Restrlcted funds Capital reserve The capital reserve iepre5ent5 fvnds receivpd under the NeastIe upon Tyne Town Moor Act 1988 Ich are to bÈ Ljsed to finance improvements to the Town Mw. Town Moor Money Charfty (hnked charrtyl The Town MOOT Money Charity was esblIshed in accordance wth The Charities ITown Moor Money Charity, Newcasde un Tyne) Ordei 1970 and permission has been granted by the Charities Commission to treat it as alsnkwj charity for registration aryj accounting purposes. In¢ome from charli•ble a¢tivfties Unrestrlct•d Re5tr1¢ted funds funds 2024 2024 Total funds 2024 To181 funds 2023 New¢aslle upon Tyne Town Moor Acl 1988 Lettings Rents and wayleaves Rents- linked charity intakes Town Moor Herd. Sales of INestOGk Agriculluial grants 12g 129 66,195 331,231 35,547 50,383 2,415 129 77, 752 431.822 52,160 47,844 3.045 66.195 331,231 35.547 50.383 2.415 450,353 35.547 485.900 612,552 Tolal 2023 560,392 52.160 612.552 Page 17
STEWAROS OF THE INCORPORATED COMPANIES OF THE FREEMEN OF NEWCASTLE UPON TYNE (THE TOWN IIJOOR CHARirYi NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 SEPTEPABER 2024 Incomè from other trading activilies Income from non charitable trading aclivltles unTtiCtld funds 2024 Total fund5 JJ24 Total frjnds 2023 Adrninislralion fee Islinl Iickelsl Miscellaneous 5.852 12,0 5.852 12,096 5,929 9.466 17.948 17.948 15,395 Invoslment Income Unrestricted Restricted fund$ fund$ 2024 2024 Total funds 2024 Total funds 2023 Investments 123.626 67.915 123,626 67.915 785 122.328 28,094 192 Bank Interest 8ank interest- linked charty 785 191.541 785 192,326 150,614 Tolal 2023 150.422 192 I.614 othor Income Unrestricted fvnds 2024 Total funds 2024 T1 funds 2023 Contribution towards Town MOOT Fund proj¢¢ts Contribution towaTds legal and professional fees 129,431 11.190 129,431 11,190 20, 185 5,307 140.62 140,621 25,492 Page 18
STEWARDS OF THE INCORPORATED COMPANIES OF THE FREEMEN OF NEWCASTLE UPON TYNE {THE TOWN AIOOR CHARITY) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 SEPTEMBER 2024 Analysis of expenditure by activities Support costs 2024 Total funds 2024 Total lunds 2023 Direct costs 2024 Charilable acliwlie5 730,614 56.827 787.441 454. 787 Total 2023 406. 150 48.537 454, 787 Anatysis ol dlrecl Costs Total funds 2024 Total funds 2023 al Charity Staff costs Deweciation Town Moor maintenance and retnslatement Livestock costs FTeemen events Ra¢eweek Festival costs Property repairs and relurbishmenl Interest due to City of Newcasrfe Legal and professional fee5 Audit and aUntanCY fees Contribution to Incorporated Company expenses General tsfficè cosis Profit on disw)sal ol fixed assets Alocaled support C05ts- staff costs bl Linked Ghanty Linked charity- Grants lo indivvjuals Linked charity- Cathedral hi Linked charity- Bank charges 133,655 16,706 347,673 51.SS4 1.099 8.206 2.951 42,563 42,384 2,994 3,000 40.482 127,051 12.455 90,479 46. 152 19.854 8,488 3,015 20,534 70,191 3,180 2,400 44.932 (8. 164) 2,086 11,850 25.315 156 26 23.150 312 35 730,614 406. 150 Analysis of support Costs Page 19
STEWARDS OF THE INCORPORATED COMPANIES OF THE FREEMEN OF NEWCASTLE UPON TYNE (THE TOWN MOOR CHARITY) NOTES TO THE FINANCIAL STATENENTS FOR THE YEAR ENDED 29 SEPTEMBER 2024 Analysis of expenditure by activities (continued Analysis of support COSts {continuedl Total funds 2024 Tolal funds 2023 Expense allowances ané Treasurerfs honorarium ALrdil and accountancy fees Guild event and expenses General oifice costs Allocated support costs- staff costs 10,473 6.006 9.576 45 f 0.20L) &720 6.638 45 26,034 30.727 56.827 48,637 Support Costs comprise 1 cosls relating lo the goveTnanGe of the tharity. Llnkgd Eharlty- grants to individuals 2024 2023 No. Oecernber 2023 Juné 2024 Special grants Relumed grant 81 76 12,15D 13.300 11,475 qt,400 275 11351 25,315 23. 15Q Auditorfs remuneratlon 2024 2023 Fees payable lo the Charity's avdilor for the audil of ihe Charity5 annual accoun15 6,006 5, 720 Fèes payable to ihe Charitys auditor in respeGt of". Accovnlancy and other 5e¥vice5 3,763 3,820 Page 20
STEWARDS OF THE INCORPORATEO COMPANIES OF THE FREEMEN OF NEWCASTLE UPON TYNE (THE TOWN MOOR CHARITY) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 SEPTEIIBER 2D24 Staff costs 2024 3023 Salaries ScKial security costs Pension contnbubon5 156,lOS 11.521 3,636 142,518 9,246 3,185 171.262 154.949 The average numbei of persons emF4oyed by thè Charity durirg the year was as folhys.. 2024 No. 2023 No. Tovm Moor maintenance and reinstalemenl Administrative staff No employee received remunerab.on amounbng lo more than £60,1)0012023.' none). 11. Trustees. r8mun•ration and éxpens The Honorary Trea5urei reGeived r4.47312023." £4.2001 for hts duties from the Charity. The Iruslee$ receive sllow8nces to cover expenses Incur ift perfomanee of their dutte5. All trustees received such allowances during the year. This speo'fically allowed In accordance wlh the Rules and Orders of the Stewards of ihe IncoOI31ed Companies of Freemen of NeraSe upon Tyne. The IL)tal amount paid was £6.OLKI lo 12 trustees12023". £6.00010 12 trustees). The Charity considers its key managemenl personnel c(rfnpnse Ihe trustee& Other than the above. the trustees received no remunerat fr the Charity12023 ." None). Page 21
STEWARDS OF THE INCORPORATED COMPANIES OF THE FREEMEN OF NEWCASTLE UPON TYNE ITHE TOWN MOOR CHARITY) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 SEPTEMBER 2024 12. Tangiblv fixed assets Plant and fflachinery Motor Fixtures and vehrGles Offlc• equipmènt Total Cost or valuatlon At 30 September 2023 Addth"ons 176.345 9,994 20.773 27.271 3.135 225,499 13,129 Al 29 September 2024 186.339 20.773 1,110 30,406 238,628 Deprnclatlon At 30 September 2023 Charge lor the year 138.827 10,267 5,228 4.165 24,934 2,244 169.B30 18,706 40 At 29 September 2024 149.094 9.383 881 27,178 186.536 Net book valuo Al 29 September 2024 37.245 11.390 229 3,228 52,092 At 29 September 2023 37,518 15.545 269 2.337 55,569 13. Inalienabl¢ and heritage assets Under the terrns ol the Newcasue upon Tyne Town MOOT Acl 1988. the Charity Is enlided ID half ol the rent, other income and capital reCpt5 anng frorn the Tcthn Moor, to te applied for the mainlellance and improvement of the Town Moor. and in defraying the general exkEnses of Ihe Stewards Comrnillee. Incomè from gran15 Of intake leasès are Whol receivable ty the Charity. The Charity is also entitled under the Act lo half of any capitsl monies arising, lo be used to fir.ance impiovements lo the Town Moor or to be investsd until required. Under the tèrms of the Newcasrfe upon Tyne Town m)r Acl 1988 the linked charity 15 entided to rents from the intskes which have been designated ty the Stewards of the InGorporaled Companies ol the Freemen of Newcastle Tyne (The Town Moor Charity). The trustees have nol ath"buted a value in the financial Statew(5 to the atsove rights as significant costs would be Invoed which woul¢J not provide any usefijl benefit io the users of the ffinancial stslemenl5_ The Charity also owns a Chairman's Chaln of Office and a Chairman's Medallion. Thèse are IrreplaGeable originals to which no reliable ¢05t or value can be attnbuted. A ring commemorating a victory aCknoedgIng the nyhls of the Freemen. thus secunng the future of the Town Moor al the Instigation ol Ihe Newcastlè Tyne Town Moor Act 1774 wa5 acquiied In 2003 at a cost of £3,411 and was written off during that yeèr. In 2013, the Newcastle upon Tyne Lord Mayorfs coach was purchased Irom Newcastle City Council joint t>y ihe Chanty and Shepherd Offshe for a cost of £25.000 each and wa5 treated as an expense during that yèar. The objectwes of Ihe JxJr¢ha$e We to retain this historic artefacl wrthin the City. Page 22
STEWARDS OF THE INCORPORATED COMPANIES OF THE FREEMEN OF NEWCASTLE UPON TYNE (THE TOWN MOOR CHARIrYi NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 2Y SEPTEMBER 2024 14. Fixed asset investments Unrtstrlct•d funds Restiicted funds Total Cost or v•luation AI 3C) September 2023 Revaluations 2,627,219 271.939 1.466,656 148,OB6 4,093,875 42Q.025 Al 29 September 2024 2.899,158 1,614.742 4,513,900 Net book value Al 29 September 2024 2,899,158 1,614,742 4.513.900 Al 29 September 2023 2.627,219 1.466. 656 4,093,875 AJI investments ale carne(l at their fair value. Investment in fixed Interest and investment fund securities are all traded in quoted publi¢ markets. The basi5 of fail Value for quoted Inve5trnents Is equivalent lo the rnarkel valuè using ihe bid pri. 15. Biological assets 2024 Reconciliation of earylng amount At 30 September 2023 Purchases of Iiveslock Sales of livestock 17,510 47,640 148,8521 At 29 September 2024 16.298 16. Stocks 2024 Fenung and other slocks 25.510 25,510 Page 23
STEWARDS OF THE INCORPORATED COMPANIES OF THE FREEMEN OF NEWCASTLE UPON TYNE (THE TOWN MOOR CHARITY) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 SEPTEMBER 2024 17. Delrtors 2024 2023 Du• withln one year Rental and letting income Rentsl and letbng incTrme- linkeLJ charty Olher debtors and prepayments S,790 1,138 39.113 290,313 10,078 24.598 46,041 325,049 18. Credltors: Amount$ falllng due wlthln one year 2024 2023 Creditors and accruals Deferred income Deferred incorne- owed by linked charity 1,666.759 61,978 1.876 7,584, 128 61,978 6,646 1,730,613 1.653.352 Deferred income represents rental payments weived in advance for fiJture periocls. These amounts are recc%Jnised as a Iiabihty unb'l the rental income is earned over the lease lem. Page 24
STEWARDS OF THE INCORPORATED COMPANIES OF THE FREEMEN OF NEWCASTLE UPON TYNE (THE TOWN MOOR CHARirYi NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 SEPTEMBER 2024 19. Statement of funds Statement of funds- curTent year Balance at 30 Septernber 2023 Balance at 29 Gainsl September IL06ses1 2024 Income Expenditure Unrèstrieted funds Deslgnated funds Town Moor Fund General reserve 1A27,IIY4 1,472,518 353.762 1296,094 1,484.762 1,744,4S7 271,939 2.899.612 353.762 1296,0911 271,939 3,229,219 General funds Income and expenditure 641.278 470.672 1465,850) 646,100 Total Unrestricted funds 3.540,890 824,434 1761.9441 271,939 3,875.319 Restricted lunds Capital reserye 1.496.583 148,086 1,644,669 Linked charity 79,708 36,782 125,4971 90,993 Total RtrICt funds 1,576.291 36,782 125A97 148,086 I,735.2 Tolal of funds 5,117.181 861.216 17B7,4411 420,025 5,610.981 Page 25
STEWARDS OF THE INCORPORATED COMPANIES OF THE FREEMEN OF NEWCASTLE UPON TYNE rrHE TOWN MOOR CHARfTYI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 SEPTEMBER 2024 19. Stat¢m?nt of funds Icontlnuedl Designated General reserve The general reserve reptesen15 lunds that a invested to prode ine4)me to meet the costs of the Ghanty. Town Moor Fund Thè Town Moor Fund represents funds fNed to be vsecl to fi"nanct the Charitys PToporb"on of agreed improvements to bp undert8ken with the City ol Newcastle Tyne and the Freemen. Restrkted Capital Re$erye Under the terms of IhÈ Town Moor Act Capital sums receNed are to be Lfsed to finance improvèments to the Town Moor or invested unts"I required lor that PUTPOSe. Llnked charFty The funds ol the linked charity are separatety entIfied as restricted lunds. At 29 Seplèmber 2024. the chanty hacl net assets of £90,993129 September 2023 £79.7081. Page 26
STEWARDS OF THE INCORPORATED COMPANIES OF THE FREEMEN OF NEWCASTLE UPON TYNE (THE TOWN MOOR CHARITY) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 SEPTEMBER 2024 19. Statempnt of funds Icontinuedl Statement of prior year 8alancÈ al 30 September 2022 Balance al 29 September 2023 Transfers out G811 (Losses) Income Expendrtu Unrè$lricted fund$ De81gnat•d lunds Town Moor Fund General reserve I, f97, 278 1.532, 156 348.311 (67. 106J 2.611 1,427.094 1,472,518 f59. 638) 2,669.434 348.311 161, 1061 2.571 (59,6381 2.899, 612 Unrestrleted funds Incorne and expenditure 610.683 403,390 (370. 184) (2.611J 641,278 Total Unrestrf¢t¢d funds 3.280. IY7 751. TOI (431,290) f59,638} 3.540, 890 Restricted funds Capitsl ieserve 1.529.037 (33,454) 1,496.583 Linked charity 50.18 53, 197 f23.497J 79, 708 Total Rgstrtcted funds 1,579,045 S3, 197 (23.497) f33.454) 1,516,291 Total of funds 4,859. IS2 804.898 (454. 787) (92.092J 5,117,181 Page 27
STEWARDS OF THE INCORPORATED COMPANIES OF THE FREEMEN OF NEWCASTLE UPON TYNE (THE TOWN MOOR CHARITY) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 SEPTEMBER 2024 20. Analysis of net assels between funds Anatysis of net a$$¢ts belwe¢n lunds - current period UnrestrT¢ted funds 2024 Capital resètvè 2024 Linked charity 2024 Total lunds 2024 Tangible fixed assets Fixed asset Investments 52,092 2.899.158 2,652,806 11,728,737) 52,092 4.513,900 92.869 2,775,602 11,8761 {1.730.6131 1.614,742 29,927 Current a$5e15 Creditors due within one year Total 3.875.319 1.644.669 90,993 5,610,981 Analysis of net assets tWn lunds- prior period unrestrtEd funds 2023 Cèprtal reseThe 2023 Linkèd charffty 2023 Total funds 2023 TangitAe fixed assets Fixed asset investments Current assets Creditors duè wathin one year 55.669 2.627,219 2,504. 708 (1,646, 706) 55.669 4,093,875 86,354 2.620.989 (6,646) (1,653,352) 1.466,656 2g.g27 Total 3.540.890 1.496.583 19. 108 5.117.181 Page 28
STEWARDS OF THE INCORPORATED COMPANIES OF THE FREEMEN OF NEWCASTLE UPON TYNE (THE TOWN MOOR CHARITYI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 SEPTEM8ER 2024 21. Reconciliation of net movement in funds to net cash Ilow Irom opera¢lng activities 2024 2023 Net Income lor the period las per Statement ol Financial Acbvthsl 493,800 258.019 Adlustments for= Depreciation charges Lossllprolitl on the sale ol fixed assets (Gainslllosses on investments DiM¢Jends and interest from inve5tsnents Ilncrea5el in tOgiCal assets Ilbvestock and other stock) Decreasellincreasel In debtors Increase in cieditors 16.706 12.455 (8. 1641 92,092 (150.614) f5.712J {225.836J 315,462 (420.0251 1192,3261 124,2981 279.008 77.261 Net tash provlded by operating a¢llvities 230,126 287, 702 22. Analysls of Gash and cash Èquivalents 2024 2Q23 Cash In bank Cash al bank- linked charity 2.616,459 71,294 2.212,413 66,017 Total cash and cash equivaknts 2.687,753 2.278,430 23. Analysis of changes In net debl At30 S•plembèT 2023 Cash flows At29 S•pternber 2024 Cash at bank and in hand 2.278.430 409.323 2.687,753 2,278,430 409.323 2,687,753 Olher finart¢ial commitrnents At the balance sheet date the Charity was ¢ommrtted to replment of fencing, purchase of new grass cutters, sile reinstatement and legJ and professional fees al a total cost of £157.800. No amount has been Charged to the Stalement of Financial Aclwibes in the year to 29 September 2024. Page 29
STEWARDS OF THE INCORPORATED COMPANIES OF THE FREEMEN OF NEWCASTLE UPON TYNE {THE TOWN MOOR CHARITY) NOTES TO THE FINANCIAL STATENENTS FOR THE YEAR ENDED 29 SEPTEMBER 2024 25. R•lated party transactions Company Stewards attending relevant meets"ng5 receive an expense allowance Df £2012023.. £201. This 15 specifically allowed in a¢¢ordance with the Rule5 and Oiders of the Slewards ol the Incorporated Companies Df Freemen ol Newcastle upon Tyne. The total amount paid was £3.Ck8012023 .' £3,620), There were no other related party Irdnsactions requiring dL%dowre. Page 30