Charity number: 1119166
ST. Nicholas, Educational Trust
Report of the Twstees and Unaudited Financial Statements
For the year ended 31 March 2025

ST. Nicholas, Educational Trust
Contents
Page
Trustee5' report
Independent examiners, report
statement of financial activities
Balance sheet
Notes lo the financial statements
9-16

ST. Nlcholas, Educational Trust
Trustees, report
Forthe year ended 31 March 2025
The Trustees present their report of the charity for the year ended 31 March 2025. The Trustees have adopted the
provisions of the Slalemenl of Recommended Practice ISORPI Accounting and Reporting by Charities" IFRS 1021 in
preparing the annual report and financial slalements.
The financial statements have been prepared in accordance with the accounting policies set out in notes lo the
accounts and comply with the charity's governing document, the Charities Act 20112nd Accounting and Reporting by
Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland.
Objectives and activitles
Pollcies and objectives
Under the scheme dated 13 March 2007 the objects of the charity were amended to promote the education of young
persons who are..
11 Under the age of 25..
21 In need of financial assi8lance', and
31 Are resident in the city of Newcastle Upon Tyne.
The Trustees have decided that the charity will make grants lo individuals who fall within the cr￿teria. or to fund schemes
to benefit groups of such individuals, as a means of achieving the objectives of the trust.
In setting objectives and planning for aclivilies, the Trustees have given due consideration lo general guidance
published by the Charity Commission relating lo public benefit, including the guidance 'Public benefit.. running a charity
IPB2}'
Grant-making policies
The Tru51ees invite applications from ￿hoolS in the city of Newcastle upon Tyne, and from previous beneficiaries, and
publicise the existence of the grants on their website ww.slnicholaseducationallrust.co.uk. Grant applications will
need to comply with the above criteria and the Trustees will need lo be advised and satisfied as to how the grants will
be spent and the educational benefit be obtained. Applications are considered by the Trustees on a quarterly basis.
Main activitie5 undertaken to further the Charity's purposes for the public benefit
The main activity undertaken lo further the charity's purpose has been to promote the education of young persons who
are in need of financial assistance.

ST. Nicholas, Educational Trust
Trustees. report (Continued)
For the year ended 31 March 2025
Achievement and performance
Grants were made to 4 individuals and 20 education81 eslsblishments during the year, lolaling £147,038. Total
expenditure was £193,148 with investment income of £114,577 being received in the year, giving rise lo a deficit
arising on outgoing resources of £78.571 after investment managèr fees and support costs.
Investment policy and performance
The Trustees have agreed a policy for investing funds, enabling them to maintain a strategic reserve of funds while
providing funding for the future activities of the Trust and have given investment managers discretion to manage the
portfolio within an agreed risk profile.
The Trust is invested lo produce the best financial return within an agreed level of risk.
The investment objective is lo balance income and capital retUTns, The assets should be managed to al least
maintain the real capital value ol The Trust portfolio, while generating a sustainable level of investment income to
support the current charitable activities.
The current income target is £130,000 per annum.
The Trust's assets can be invested widely according lo the general power of investment and should be diversified by
asset class, and by security. Asset classes could include cash, bonds, equities, property, commodities and any other
assets that are deemed suitable for The Trust.
Financial review
Going concern
After making appropriate enquiries, and taking into consideration the valuation surpluses on investments held at 31
March 2025, the Trustees have reasonable expectation that the Charity has adequate resources lo continue in
operational existence for the foreseeable future. For this reason, they continue lo adopt the going concern basis in
preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in
the accounting policies.
The Trustees will adjust grants paid out of the Trust in accordance with any impact on the income arising from a
reduction in dividends arising from the Trust's inveslmenls.
Reserves policy
The Trustees, intention is lo award grants equal lo the net incoming unreslricled resources in the previous year
although this is not a minimum or maximum which is binding upon them. Current reserves of unreslficted funds will
limit the ability of the Trustees lo provide additional grants beyond the expected incoming resources. The Trustees
are permitted to treat the endowment funds on a total return basis.

ST. Nicholas, Educational Trust
Trustees. report (Continuet¥
For the year ended 31 March 2025
structure, govemance and management
Constitutlon
The Trust was founded on 2 July 1847, as the Newcastle upon Tyne Ragged Boys School which was constituted in a
Conveyance dated 3 May 1854. The School was reconsliluled on 15 January 1952 by the Minister of Education under
the Charitable Trusts Act 1853 10 1925. to be known as Axwell Park School Foundation.
On 13 March 2007 the name oflhe Trust was changed from Axwell Park School Foundation to St Nicholas, Educational
Trust under the terms of a scheme registered with the Charity Commission on that date.
Methods of appointment or election of Trustegs
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of
the scheme.
Financial risk management
The Trustees have assessed the major risks to which the charity is exposed and continue lo monitor the arrangements
and systems in place lo mitigate those risks. These are mostly related lo the ability of the Iruslees lo grant funds out
of income from invested funds (which are the permanent endowment of the charilyl. The scheme of 13 March 2007
allows grants to be paid from unrestrictèd funds first then expendable endowment. The Trustees are therefore
dependent upon their investment advisers whose performance is continuously monitored.

ST. Nicholas, Educallonal Trust
Trustees, report fcontlnuèrl)
For the year ended 31 March 2025
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The Trustee5 (who are also directors of St. Nlcholas Educational Trust forthe purpose of ￿MpanY law) are
sponslble for preparing the Trustees, Report and Ihe financial statements in aGG0rdan￿ with applicable law and
United Kingdom Accounting Standards (United Kingdom Generally Accepted Acctsunting Practl¢e).
Company law r8qulres the trustees to prepare financial statements for each finandal year, which glve a true and fair
vlew of the state of affalrs of the charitable company and of the incomlng resources and application of resources,
including the Income and expendlture. of Ihe ¢haritable company for that period. In preparing these financial
statements. the trustees are required to:
salecl sultable accounting policies and Ihen apply them conslstently;
observe the methods an¢J principles In Ihe Charities SORP 2015 (FRS 102).
make judgements and 8slimates that are reasonable and prudent.
stat0 whether 8pplicable UK Accounting Standards have been followed, subject to any materlal
disclosed and explained in the flnancial stat9ments: and
prepare the financial slat6manls on the going concern basis unless it is Inappropriaté to presume that Ihe
charitable company will continu8 in operation.
departures
The trusle8s are responsible for keeping adequate accounting records Ihat disclose with reasonable ac¢ura¢y at any
Ilmo Ihe financlal position of the charitable company and enable them to ensure that the financial statements comply
with the Companies Act 2006. They are also responslble for safeguarding the assets of the Charltsble company and
hence for taking reasonable steps for tho prevention and detection of fraud and olher irregularitios.
Thls report was approved by the Trustees on .............. .
Signed on behalf of the Board
MrJW
Chair
ghm

ST. Nicholas. Educational Trust
Independent Examiner's Roport to the Trustees of ST. Nicholas, Educational Trust
For the year ended 31 March 2025
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
228547
Principal address
2 Saville Gardens
The Grove
Gosforlh
NE3 1NG
Trustees
Mr J Waugh MBE
Mrs B Payne
Mrs M.D Martin
Mr R.L Jobling
Mr T Braun
Mr B Peacock
Ms A Tale
Mr G Reid
Chair { Elected 10 July 20251
Chair- IResigned 17 January 20251
Vice Chair
Tressurer
Resigned 17 October 2025
Independent examiner
S&W Audit
17 Queens Lane
Newcastle upon Tyne
NE1 1RN
Bankers
Lloyds Bank plc
PO Box1SL
Newcastle Upon Tyne
NE99 1SL
Investment Advisors
Charles Stanley and Company Limited
55 Bishopgate
London
EC2N 3AS
Investment Advisors
Rathbones Investment Management
28 Sl Andrew Square
Edinburgh
EH2 1AF

ST. Nicholas, Educational Trust
Independent Examlner's Report to the Trustees of ST. Nicholas, Educational Trust
For the year ended 31 March 2025
I report to the charity Iruslees on my examination of the accounts of the charity for the year ended 31 March 2025
which are sel out on pages 7 10 15.
Responsibilities and basls of report
As the charity trustees you are responsible for the preparation of the accounts in accordance with the requirements of
the Charities Act 2011 I'lhe 2011 Acl'l.
I report in respect of my examination of the chaiity'g accounts carried out under section 145 of the Act and in carrying
out my examination I have followed all the applicable Directions given by the Charity Commission under section
14515llbl of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my allenlion in Connection with the
examination giving me cause to believe that in any material respect..
accounting records were not kept in respect of the charity as required by section 130 of the Act., or
2. the accounts do not accord wth those records., or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set
out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts
give 8 '1rue and fair view, which is not a maller considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention
should be drawn in this reF)Ort in order lo enable a proper understanding of the accounts to be reached.
S&W Audit
Date
hartered Accountants
17 Queens Lane
Newcastle upon Tyne
NE1 1RN

ST. Nicholas, Educational Trust
statement of Financial Activlties
For the year ended 31 March 2025
Endowment
Unrestricted
fund8
Total
2025
Total
2024
funds
Notes
Income from..
Investments
114.577
114,577
124,571
Total Income
114,577
114,577
124,571
Expenditure on:
Raising funds
Charitable activities
32,263
160,885
32,263
160,885
30,850
134,857
Total Expenditure
193,148
193,148
165,707
Net {expenditurellincome before net
gainslllossesl on investments
Net Ilossesllgains on investments
{ 78,571 }
{78,571 1 (41,136)
1219,1511 252,118
1219,151 1
Net movement in funds
1219,1511
178,571 1
1297,7221 210,982
Reconciliation of funds
Total funds brought forward
3,878,820
88.316
3,967,136 3.756,154
Total funds carried forward
3,659,669
9,745
3,669,414 3,967,136
All income and expenditure has arisen from continuing aclivilies.

ST. Nlcholas, Educallonal Trust
Balance Sheet
As at31 March 2025
2025
2024
Notes
Flxed assets
Investments
3,614,670
3.866,084
Current assets
Debtors
Cash al bank and in hand
20.360
44,984
22.507
81.965
65,344
104,472
Creditors:
amounts falling due within one year
10
(10.600)
(3,420 )
Net current assets
54.744
101.052
Net assets
3,669.414
3.967.136
Fund5
Endo￿nent funds
Unrestricted fvnds
3.659,669
9.745
3.878,820
88,316
3,689.414
3.967.136
The financial ststements were approved by the trustees on .
1* -10-2% . 2025 and slgned on thelr behalf by:
MrJ
Ch
augh
BE
Th& not8$ fom7 part of these financial st8tsn78nts

ST. Nicholas, Educational Trust
Notes to the flnancial statements
For the year ended 31 March 2025
Accounting Policies
1.1 Basis of accounting
The charity conslilules a public benefit entity as defined by the FRS 102. The financial statements have been
prepared in accordance with Accounting and Reporting by 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 Ireland IFRS 1021 issued in October 2019, the Financial Reporting Standard
applicable in the United Kingdom and Republic of Ireland IFRS 1021. the Charities Act 2011, and UK Generally
AcTrpted Accounting Practice.
The financial statements have been prepared lo give a 'lrue and fair, view and have departed from the Charities
(Accounts and Reports) Regulations 2008 only to the exlenl required to provide a 'lrue and fair view,. This
departure has involved following the Accounting and Reporting by Charities.. Statement of Recommended
Practice applicable lo charities preparing their accounts in accordan￿ with the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 issued on 16 July 2014 rather than the Accounting and
Reporting by Charities,. Statement of Recommended Practice effective from 1 April 2005 which has Sin￿ been
withdrawn.
The financial slalements are prepared on a going Concern basis under the historical ¢051 convention, modified
lo include certain items al fair value. The financial statements are presented in sterling which is the functional
currency of the charity and rounded lo the nearest £.
The signifi'cant accounting policies applied in the preparation of these financial statements are sel out below.
These policies have been consistently applied to all years presented unless otherwise stated.
1.2 Going concern
The financial slalements have been prepared on a going concern basis as the trustees believe that no material
uncertainties exist. The trustees have considered the levels of funds held and the expected level of income and
expenditure for 12 months from authorising these financial statements and have concluded that they can adopt
the going concern basis in preparing the annual report and accounts.
1.3 Fund accounting
Unreslricled funds are available for use at the discretion of the Iruslees in furtherance of the general objectives
of the charity and which have not been designated for other purposes.
Reslricled funds are funds which are to be used in accordance with specific reslriclions imposed by donors OT
which have been raised by the charity for particular purposes. The cost of raising and administering such funds
are charged against the specific fund. The aim and use of each reslricled fund is sel out in the notes lo the
financial slalemenls.

ST. Nlcholas. Educational Trust
Notes to the financial ststements {ContinuedJ
For the year ended 31 March 2025
1.4 Incoming resources
All incoming resources are included in the Slalemenl of Financial Activities when the charity has enlillement to
the funds, any performance conditions have been mel, the amount can be measured reliably and il is probable
that the income will be received
1.5 Expenditure
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all
costs related lo the category. Expenditure is recognised where there is a legal or conslruclive obligation lo make
payments lo third parties, il is probable that the settlement will be required and the amount of the obligation can
be measured reliably.
Irrecoverable VAT is charged against the cost against the expenditure which was incurred.
1.6 Support cost allocation
Support costs are those that assist the work of the charity bul do not directly represent charitable activities. They
are incurred directly in support of expenditure on the objects of the charity.
1.7 Debtors
Debtors are measured on initial recognition al settlement amount after any trade discounts or amount advanced
by the charity. Subsequently, they are measured al the cash or other consideration expected to be received.
1.8 Cash at bank and In hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with instant access from
the dale of opening of the deposit or similar account.
1.9 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 lo a third party and the amount due lo settle the obligation Can
be measured or estimated reliably. Creditors and promsions are normally recognised at their selllement after
allowing for any trade discounts due.
1.10 Investments
Fixed asset investments are a form of financial instrument and are initially recognised al their transaction cost
and subsequently measured al fair value al the Balance Sheet date, unless the value cannot be measured
reliably in which c8se it is measured al cost less impairment. Investment gains and losses, whether realised or
unrealised are combined and presented as 'gainslllosses) on investments, in the Statement of Financial
Aclivilies.
10

ST. Nicholas. Educational Trust
Notes to the financial statements (Continued)
For the year ended 31 March 2025
Investment income
2025
2024
Investment income
114,577
124,571
114,577
124,571
Investment management costs
2025
2024
Investment management fees
32.263
30,850
Investment management costs for 2025 are £15,70812024-. £15,112) for Charles Stanley and Company
Limited and £16,55612024'. £15,738) for Ralhbone Investment Management.
Analysis of grants
Grants to Grants to
Instltutions Individuals
Total
2025
Grants made in the furtherance of the education of young people
138,938
8,100
147.038
Grants to Grants to
Instltutlons Sndividuals
Total
2024
Grants made in the furtherance of the education of young people
105,584
19,750
125,334
Grants to individuals in 2025 were paid or committed lo 4 individuals12024 - 161.
11

ST. Nicholas, Educational Trust
Notes to the financlal statements (Continuedj
For the year ended 31 March 2025
4.Analysis of grants continued
The Charity has made the following grants lo Institutions during the year..
2025
2024
Newcastle University
Northumbria University
Durham University
Sage Gateshead
Timba Dash Theatre
Seven Stories
YMCA Newcastle
Bishop Bewick Catholic Education Trust
University of Sunderland Development Trust
stepney Bank Stables
SVP Holy Island Children's Camp
NE Youth Limited
Tyne Rowing Club
Sunderland University
Northumberland Scouts
17,500
15,000
17,500
15,000
11.319
10,000
8,260
7,000
6,240
5,925
5,000
5,000
5.000
3,$40
3,000
2,500
300
6.500
9,275
11,500
5,000
3.540
12,500
Country Trust
Royal Grammar School
Windgrove Primary School
Hadrian Trust
Newburn Sea Cadets
Sl John's Primary School
Hadrian School
North Music Trust
7,232
6,000
3,060
4.481
3,000
3,000
5,000
13,000
4,500
5,000
3,500
350
st Culhberts Raygroup
U.S Charity
Sacred Heart School
Other >£500
138,938
105,584
12

ST. Nicholas, Educational Trust
Notes to the financlal statements (Continuéd)
For the year ended 31 March 2025
Analysis of expenditure by actlvlties
Grant
funding of
activities
Support
costs
Total
funds
2025
2025
2025
Direct costs
147,038
13,847
160,885
Grant
funding of
activities
2024
Support
osts
Total
funds
2024
2024
Direct costs
125,334
9.523
134,857
5.Analysis of expenditure by activltles Icontinuedl
Analy51s of 8UPPOrt costs
2025
2024
Independent examiners costs (note 6)
Correspondent's fee
Computer costs
Meeting costs
Insurance
3,600
4,220
4,969
607
3,420
4,321
348
1,000
434
451
13,847
9,523
Independent examiner's remuneration
Nel incomellexpenditurel is slated after charging
2025
2024
Independent examiners, fee
3,600
3.420
Trustees, remuneration and expenses
During the year, no Trustees received any remuneration or other benefits {2024 - £nill.
During the year, expenses lolalling £nil were reimbursed or paid directly lo Trustees12024 - £nill.
13

ST. Nicholas, Educatlonal Trust
Notes to the financlal statements (Continued)
For the year ended 31 March 2025
Flxed asset Investments
Listed
Investments
Cash
held
Total
2025
Cost or valuation
At 01 April 2024
Additions
Disposals
Withdrawals
Fees
Revaluations
3,672,585
373,537
1365.4961
193,499 3,866,084
1373,5371
365,496
198,7561
132,2631
198,7561
132,2631
{ 120,3951
{ 120,3951
3.560.231
54.439
3,614,670
Debtors
2025
2024
Prepayments and accrued income
20,360
22,507
20,360
22,507
10,
Creditors- amounts falling due within one yoar
2025
2024
Accruals
Accrued grants
3,600
7.000
3,420
14

ST. Nicholas, Educational Trust
Notes to the financial statements fcontinued)
For the year ended 31 March 2025
11. Statement of funds
Ye2r ended 31 March 2025
At l April
2024
Gainsl At 31 March
(Losses)
2025
Income Expendlture
Unrestricted funds
General funds
88,316
114,577
1193,1481
9,745
Endowment funds
Endowment funds
3,878,820
1219,1511 3,659.669
Total funds
3,967,136
114,577
1193,14811219,151 1 3,669,414
Y8ar ended 31 March 2024
At 1 April
2023
Gainsl At 31 March
Income Expenditure {Lossesl
2024
Unrestricted funds
General funds
129,452
124,571
1165,7071
88.316
Endowment funds
Endowment funds
3,626,702
252,118 3,878,820
Total funds
General funds
This fund is free from any restrictions.
3,756.154
124.571
1165,7071 252,118 3,967,136
Endowment funds
The Trustees are permitted lo Ireal the endowment funds on a total return basis.
12. Analys18 of net assets between funds
Year ended 31 March 2025
Endowment Unrestrlcted
funds
funds
Total
funds
Fixed assets investments
Current assetslLiabilities
3,659,669
3,659,669
9,745
9.745
3,659.669
9,745 3,669.414
15

ST. Nicholas. Educational Trust
Notes to the financial statements (Contlnued)
For the year ended 31 March 2025
Year ended 31 March 2024
Endowment Unrestricted
funds
funds
Total
funds
Fixed assets investments
Current assetslLiabilities
3,866,084
12,736
3,866,084
101,052
88,316
3,878,820
88,316 3,967,136
13. Related party transactions
There have been no related party transactions during the year12024- none).
14. Comparative statement of financial activities
Endowment
funds
Unrestricted
funds
Total
Total
2024
2023
Notes
Income from..
Investments
124.571
124,571
128,227
Total Income
124.571
124,571
128,227
Expenditure on:
Raising funds
Charitable activities
30,850
134,857
30,850
134,857
31,695
75,526
Total Expenditure
165,707
165,707
107.221
Net {expenditurellincome before net
gainslllossesl on investments
141,1361
141,1361
21,006
Net gainslllossesl on investments
252,118
252,118 { 332,2421
Net movement in funds
252,118
{41,1361
210.982 1311,2361
Reconclllatlon of funds
Total funds brought fonmard
3,626,702
129,452
3,756,154 4.067,390
Total funds carrled forward
3,878,820
88,316
3,967,136 3,756,154
16