Charity Registered No: 244047 Saint Andrew's Church Estate including the Charity of Sir William Blackett the Younger Report and Financial Statements Year ended 31 December 2023
Saint Andrews Church Estate including the Charity of Sir William Blackett the Younger Legal and Administrative Information Constitution The Saint Andrew's Church Estate including th¢ Charity of Str Wilham Blackett the Younger is a Charitable trnst governed by its Trust Deed. It is a registered charity no 244047. Trustees The Tnkste¢$ who Seed during the y¢ar were.. Revd Micbael Hills Mrs Rosemary Hail Mrs Bathra Porter Offices St Andrew's Chuwh Newgate Str¢et Newcastle upon Tyne NEI SSS Bankers Lloyds 102 Grey Str¢¢t Newcastl¢ upon T¢ NE99 ISL Invostmont Advisors Brewin Dolphin Time Centsal Gallowgaie Newcastle upon Tyne NEI 4SR Solicitors Nicholson and MorgaD 14 Belle Vxllas City Centre Ponteland Newcastle upon T¢ NE20 9BE
Saint Andrew's Church Estate induding the Charity of Sir William Btackett the Younger Trustees, Report for the year ended 31 Docember 2023 Trust The Tt was established by a Tnt Deed dated 7 April 1702 and registered with the Charities Conunission on 21 April 1967. Charltable Objects of the Trust The Tnt'S charitable objectives are: The upkeep and maintenance of St Andrews Church, b) The maintenanee of services in th¢ chur¢ and 8ub8idiary thetrto, The advancement of the religious and other ¢harit#ble work of the Church of England in the Ecclesiastical Parish of the Church of St. AAdr¢w, Newgate Street, Neastle upon Tyne. The Charity aims to satisfy its objects and demonstrates its public benefit throu8h the above three main areas of charitable activity. When considering its proposed plans of activity and preparing this r¢tKTrrL the Tnlstees have considered the Chariry Commi&8ion's guidance on public benefit. Structure, Governance and Management (l) The Trnslees meei at least quarterly d nthke all de¢ii*ions regarding inveslments and eXnditre. (2) The Trustees have delegated the day-today managejnent of the retttsl of the Tnt'S prop¢rtie$ to George F White inco)rating Johnson Tucker LLP. (3) The Trnstee8 have delegated the day-today management of the Trust's inveslments to Brewin Dolphin. (4) Trnstees are appointed by the existing Trustees PUTsuant to the PTovisions of the Trust Deed. New Trnstees are found from the contacts and person81 knowledge of exi8ting Trustees. The aim of the Tntee$ in m8kin8 appointments is to have a range of skills qualifications and experience suited to achieving the objeets of the Trust as set out in the Trust De. (5) On appointmeni, TTUSttts provided with a eopy of the Trust Decd, the most recent fm4ncia] statemenLq and illvesttnent trpons and minutes of Trustees meetings. The experience of th¢ persons app)inted uSU]Y means that they haye a good understanding of the r¢sp¢)nsibiliti¢s of a charity tNqtee, but where necassary suidanee is available from the TnL8t's solicitors. R¢levant Charity Commission publications are also available to the Trustees. Due to the resi(luai pandemic rclated aftem)ath there were ttvo face to face TTUStees meetings of the Trust during the year. Onc¢ agai our inveslments advisorcommunicated via email and telephone conversations. Meetings w¢r¢ alwa minuted by the secretary. The meetings were attended by the Trustees and by professionat advisors when they were required. The Tnjstees were regularly in contact witb ea¢h oth¢r during the year in their Toles as Vicar and ChurcbwardeLs. The Tn]stees receive no remunerdtion for attendance at meetings or for all the work they perfom) os Trnstees. Rlsk Management The Trnstees have considered any risks. to which the Trust might be exp08ed and are salisfied tbat the admijllstrdtive illvestment and finallcial procedures whi¢h ar¢ in place minimi5e the risk of any loss to the TnL The w)sition is ttviewed ularlY by the Trwst¢es.
Saint Andrevls Church Estate includlng the Charity of Sir William Blackett Ihe Younger Trustees, Report for the year ended 31 December 2023 Roview of Activiti•$ and Porforniance Once again, w¢ had wo churchwardens in place a8 Trnstees. One churchwarden remained in the 'wlnerable' ¢at¢gory (as d¢ribed by NHSTrHE) sustaining minor health issues, together with the vicar, which slowed the pace of progress but did not Si8nificantly impede it. Although this clearly affected how w¢ We able lo meet as Tnte¢s. it did not affeet iTruWui for this period. Our contlnued response. Treasurer Mich¢ll¢ Small, as per l&st y&ir, has provided regular updat¢s, when working practices elsewhere in the City were far from unifomi- there being many olre5 in this location either working from home, working reduced hours, or part-time and variable routines. Consequently* we too are scoping whether it might be efficient andlor prndent for us to do likewi4e. George F White incorporating Johnson Tueker Gary RobiL8on has. as eyer, been efficient, productive and tenacious this year. Once again liaising shrewdly with all stskeholders and trnstees to offer re8LElar al helpful advi¢e throughout this consistently ¢hallenging peri(MJ of our history, his combination (Trf sound judgement and diplomacy has gecured rcspECtabl¢ fmancial benefits for the Trust again this year, for which we are very grateful. Brewin Dolphin Anna Mccready, CFA h&s also been a valued source of eDcouragem¢nt and advice throughout this period, ensuring thai our investments were appropriately monitored, and good governance achieved. Llability Insurance for Trustees After taking advice tbis was successIlY set up in 2022 and will Gontinue each ye4r so that all extstitig truste£s rernain suitable protected. Strategy regarding rental properties The t¢[lts were still opernting in a variety of circumstances, 80 thi5 year we ¢ontinued our developed practice of la%t year with bespoke responses. We rnaintained that it was still both fair and indeed the Christian response to undertake re8ular dialogue with each t¢nanL so that no party was unnecessarily disadvantaged. The strategy of kindne&8 and good practice develop¢d over the past two years kn reaped both Vdstoral and fitwhcial reward as all tenaots now off¢r fvll rent. Good news for all concerned. This stonce of ethical dignity still trmalns a e&sary leil-motif. lll. Iv. Flnanclal rnvi The TrnsÈ¢¢s W¢Te gratefvl for the finallcial investment advice received from Anna McCTeady, Brewin Dolphin. Th¢ income for the Tnt during the year aoUntrd to £2252,910 and expenditure tothlled £211,369. The market value of listed investtnents Ancreaged to £627,745. Investmènt pollcy and performan¢9 The Trust is dep¢nd¢nt sol¢ly on income from its investments to fulfil its objects. The Trllstees, investment objective is therefore to maintain and enhattce the value of th¢ fix¢d ass¢¢s and investments over the long tem in order to maintaan and if possible increas¢ the income available for the PUqK)ses of the Trust. Inv¢5tm¢nts and projected incom¢ are reviewedquarterly and perfonnance cornpared with appropriate indices. Taking into a¢¢ount the effects of the economic and financial crisis and in particular the problems iii the banking sector, investment perfom]ance has been satisfactory. We have retained a risk category of 5 which is diversifjed risk portfolio.
Saint Andrews Church Estate including the Charity of Slr Wllllam Blackett the Younger Trustees, Report for the year ended 31 Decemb•r 2023 ReMrv¢$ pollcy Reserves which represent the balanee of unrestrictsd funds which a8 at 31 Deeember2022 was £3,529,037. It is the policy of the TnleeS to retsin suifi¢ient reserves, subject to fluctuation in the value of the investh]ents to ensure that in the eveni of a significani reduthion in in¢om¢ th¢ Twstces could ai l¢a5t maintain the regular expendibjre. The Truste¢s bave tok¢n into aOunt the Current level of yield on Investhients, market volatiliry and the e¢onomi¢ outlook. Futur• Plans and concluslon Por¢h As reported last year.. The Jubilee Cbap¢l (¢olloquialEy duribed as the 'priest porch.) continues to ¢ause eoncern as the iswe of water ingr¢5s persists, the point wh¢r¢ it became prudent stewardsbip io ask our archite¢t to inspeet on¢e again. Sinc¢ last year's report no ptical progress has been made to datr. English Heritage support our collectiv¢ ¢oll¢ern regardin8 this $¢ction of th¢ church building. The architect is preparing a scheme of work(togetlw with th¢ e&sary co¢sonding fa¢ulty application) and will project m8nag¢ at the wli¢st opportuthity. Muslc and Llturgy Our relationsh with Newcastle Urriversity (music departtnent) bas continucd to PTO8r¢ss. Vo¢al scholaTS managed to deliver traditional 'Compline' again for both Advent and I£nL Once again, recordinus wcro circulated to reach those who were Yulnerdble and isolated They were also able to sitig throughout tenll time and during Holy Week. Offering 'Sung Matins, IBCP) estabiished 8 unique lilurgical footprint during terni lime. aitracting a growing alld gatbered cOng88Uty whi¢h also i%tilliulates the musicians. Building on last year's hosting. we illcreased our hosting CaPlty for a vari¢ty of NU seasonal concerts. which are thanllY gailling momthtlun. as pr¢di¢t¢d, in both style ond number. Next year, for exanwle, we shall support individual reeital progratnmes and develop # fflaÈionship¥ with the op¢rati¢ department to deliver 'The Fairy Queen, {Purcell) iti chuwh. Thi$ b. great pOttIal for fiwth¢r development as all parti&8 remain positive al keen to pro¥re&s. Building on these firn] foundation& the orgall sCholabip we were hopiDg for has mateTialis¢d this Y[, with a first year Oall scholar arrtving itt the September temi who will F4)t¢ntially stay with us for three years. thus providing our much desired tolllinuity of output, and a Jnauag¢abl¢ dire¢tion for developmenL It has already deepened bcal outreach (mi&sion) and fomered wid¢r parthership$ within the musical community. The ideal aspiration for the Choir is to 'double up, as soon as possible (i.e. so that the exi$titi& SATB onfiguration becomes SSAATTBB). This will result in the singing parts being lesg '¢xwsed' and allow the conductor to deliver a more comprehensive repertoire with in¢reased flexibility ond rapacity. In additicm, w¢ have r¢a¢hed out to the university technical departmenL to detennitie bow besi to record the conc¢rts and s¢rvic¢s. Th¢re are a number of reasons for pursuing this trajeetory- the most obvious being to cr¢a(¢ a tangible narrative, evidencing progress and outpuL which in ttmi will establisb a degree of redibility when approaching outside fimding streams. Eventually we SI11 build up a librnry of quotity recorth'ngs for not only liturgical use, but as gifts or as fvndraising tential. We retain p¢nni$sion to des¢ribe ourselves as being 'in partnership, with Newcastle University. This language features on the NU Music Department website, who have accepted our 'v(Kal scholarship, overtures as b¢ing mutually beneficial. Our own Church websites are currently bejng refirshed to Lrfle¢t thes¢ current needs and the organic nature of the city in which we are set.
Saint Andrews Church Estate includlng the Charity of Sir William Blackett the Younger Trustees, Report for the year ended 31 December 2023 Conservation As was the lasi y¢ar, our Ward Councillor remain5 SUPPOrtive of the plaDS ¢0 d¢veliTrp the grouods as 'an oasis of calm and healing., We remain on the City CourKil radar, ar¢ still part of the Dietropolitan eonversation, and will hopefully be able to add unique value to the city gr¢¢n spaoes project(s) once the inertia creat¢d by the pandemic gives way to a new ellergy. The vi¢ar is due to meet with the local biodiversityteam in theirscheduled meeting (spring 2024) to progress matter5. Afterreaching out ea¢h year to Neweastle University (Ecology Departmen1} their undergraduate and post-graduate stud¢ncs ¢onduct supervised 'site surveys,. This y¢ar we deepened those undergrnduate illsigbts once again during the Dew sea%on by attrdcting parish input. In practical terms there are a nwnber of projects we can prosecule to add real value to the grounds. Th¢ ¢aveaL as with all natLtre-based projects, is an element of trial and error. Neverrheless, in temis of 'next steps, our task is to approach other Ial stakeholder5 to encourdge a sense of 'Ownersh, so that all plgnned improvements are successfijlly maintsined. There are two key initiatives Firstly, the N¢w¢astle City Council 'Green Spaces. tnitiative. Secondly, the national 'Ew-Church' agenda, which is parented by 'A Rocha UK. and tms awarded the Church 'Bronze' status for our current Contribution to these environmentsl IUCs. The award takes into account a wide range of topics, including boiler and waier effi¢i¢ncy as well as consetvation in the ehurehyar&grounds. The aspiration is to progr tn all respects to a¢hieve 'Silver' status in the coming year. The vision to enjoy, nurture and defend nature has been shared by the parish not only for developing stewardship of Creation, but also for the more subi by-product of rnental wellbeing. resilience and fellowship which oceurs as a result of these activities. The journey continues. ondu$lon Som¢ challenges from the pw)demic are still with us, although each month PTovides fresh hope. Progress r¢maiDS slow but is nevertheless on fum foundations. CoIonaviru continues to impactperiodically, but less of a problem as the year IMS progressed. Many thanks ty all who hav¢ ¢onsi8tently supported the art of the possible, displayed a positiv¢ mitidseL with generosity of spirit and tetwity 'in spades, once again. Consequenily. as we cO]tiVe tt> be ad4pthble and upbeal I am happy to report that the fvture for us alld the mission of th¢ Trust Still remains positive in all respt& SL7t•m•nt of Truste, RespsIbIlItIe8 The Trustees are responsible for preparitw th¢ Trus*¢$' Report aT the fJnancia] statements in accordance with applicable law and United Kingdom A¢coulltiDg Standards (United Kingdom Generally Accepted Accounting Practice). The law applicabl¢ to ¢lJaTiti¢s in Eng]and & Wales requires the TnteeS to Prepare fLn8ncial ststements for each fllMll¢i#l year which giY¢ a tNe and fair view of the stste of &ffait¥ of the cRlty and of the incoming resoutces aDd appli¢ationof resources of theCI)arity forthatperiod. In preparing these finalloial 8tat¢men the Trust¢es aT¢ required to: Select suitsble accounting policies and then apply consistently. Make judgements and est&mates are re&wnable and prudent; Stste wh¢th¢r appli¢able untIng standards have been followed, subjert to any material dep4rtur¢y disclosed and explained in the fmanclal sthtrmenty alld Prepare the financial statements on the goithg con¢em basis unless it is inappropriate to presutne that the Charity will continue ill bLsin¢ss.
Saint AndreWs Church Estate including the Chaiity of Sir William Blackett the Younger Trustees, Report for the year onded 31 Dec8mb•r 2023 The Tnjstees atr responsible for keeping proper aceounting records that dis¢los¢ with rea80nable accuracy at any tAJne the ancIal position of the ¢haTity and enable them b) ensuT¢ that the financi statements comply the Charities Act 201 lalld the provi8ioD5 of the lrnst deed. They are a180 responsible for safeguard]ng the assets of th¢ Charity and h¢nc¢ fortsking reasonable steps for the prevention and dectiOn of fraud and other irregularities. Approved by the TnleeS and signed on their behalf by.. Revd Michael J Hills Chairnian Date
Independent examiners, report lo the Truste88 of Salnt Andrews Church Estate includlng thè Charity of Sir William Blackett the Younger J report on the accounts of the Cbarity for the year ended 31 Decemb¢r 2023, which are set out onpages 8 to 14. This report is made solely to the Trustee5, as a b(xly. The examination has been un¢Jertaken so that I might stste to th¢ Twstees those matters that are iequir¢d to be staled in an examiner's report and for no oth¢T pu4)ose. To the fvllest extent pemitted by law, I do not a¢cept or assume reSponsilIlty to allyon¢ other than the Charity and the TnteeS a5 a body, for this examination, for this report, or for tIL¢ Statements Respectlvè responsibilities of Trust•os and examinor The Charity's Tnte¢S are responsible for the preparati(m of the accounts. The Tnjsteèg Consider that an audit is nol r¢quired for this year under section 144(2) of th¢ Charities Act 2011 (the 2011 Act) alld. that all iDd¢peD(knt examination is needed. It is my responsAbi]ity to: examine the aolltS U1¢r Section 145 of the 2011 Act. to follow the procedures laid down in the general Directions given by the Charity Conllnission under section 145(5Mb) of th¢ 2011 Act; and to state whether particularAnatt¢rs have come tt) my attention. Basi8 of independent gxaminer's statsmont My examination was caled out in accoTdance with the general Directions given by th£ Charity Commission. An examination include5 a review of the accounting recor(Ls kq)t by thc ChaTity and a comparison of the accounts presented with those records. li also includes consideration of any unusual ltell or disclosurcs in the accounts, and seeking explanations from you ps TTUStees ncerning any such matters. The procedures undertaken do not provide all Ihe eviden¢¢ that would be required it) an audii and consequendy no opinion iy given as to whether the accounts present a 'true and faiT Yiew, and the report is limited to those matteri set out in the slatement below. Independent examlnerfs statoment In conneetion wrth my examination. no matter has eome to my attention.. which gives me reasonable cause io believe that in any material r¢spx¢ the requirements". to keep accoullting T¢wrds in accordance with section 130 of the 2011 ACL and io prepare ac¢outtts which accord with the accountin8 record8, ¢omply with the accounting requitrments of the 2011 Act have not been meL' or 2. to which, iti my opinion, attention should be drnwn in order to enable a proper understanding of the accounts to be reached. Name.. Carolin¢ Mulley Relewallt professional qualification orbcrfjy: tnstitute of Chart¢T¢d A¢cowitants in England and Wal&4 Address: Newcastle upon Tyne Date: Ib44 2oLLk
Saint Andrew's Church Estate including the Charity of Sir William Blackett the Younger Statement of financial activities for the year ended 31 Do¢ombor 2023 2023 roial 2022 Note5 Unreslricled Reslrwled INCOME FROAI." Volunt•ryln¢¢)m• Donations for music Scholarship Donation for grave repair Grant for heating Donations 2,650 24.877 2,650 24.877 2,460 2,096 150 150 Fund ralslng Jnveslment income 214.041 214,041 226202 Otherincome Jnsurallce claim 11.192 11,192 12,714 Totsl income 214,191 38,719 252,910 243,472 EXPENDITURE Charltablo aetlvftks 107,880 13,842 121,722 127,048 Costs of fund rnlslng 89,647 89.047 81,084 Total expenditure 187.527 13,842 211J69 208,132 Net incom&{expenditure) 26,664 24.877 41,541 35,240 Realised losses on investment &S8¢ts Unrealised gain(105Se8) on investment assets Unmlised gain on investment properties (2.893) 19,553 (2,893) 19.553 (8.507) (85,854) Net movement in funds in year 43,324 24,877 58,201 (59,021} Toi41 brought fonvaTd 3,470,836 3,470,836 3,529,857 Total fLuth carried fonvard 3,514,160 24,877 3,529,037 3.470,836 All activities are continuitig.
Saint Andrew's Church Estate including the Charity of Sir William Blackett the Younger Balance sheet at 31 December 2023 2023 2022 Notes Fixedassets Investmenl Properties Invcstrnents 2,700,000 627,745 2,700,0(XI 599,625 3J27,745 3,299,625 C4mnt assets Debtors Cash ai bank 24,569 199.280 30,228 152,430 223,849 (22557) 182,658 (11,47) Crndltoys.. amounts falling due withiti one year Idet ¢urnnt•ssets 20I292 171.211 Net assets 3,529.037 3,470.836 Fund$ Unrestrictcd Restiicted 3.514.160 3,470,836 24,877 Total funds 3,529,037 3,470,836 Approved by the Board of Tne¢S on 1I42ow and signed on its behalf by: M.T.HaL. Revd Micha¢l J Hills- Chair]n
Saint Andrews Church Estate inclLKling the Charity of Sir William Blackett the Younger Notes to the financial statements at 310o¢•mbor 2023 1. Accounting policies St•t•mont of ¢omplianco and 4)f prepalI0n Saint Andrew's Chureh Estate is an uniDcory)ornted Charity registered in England. The Registered Office is St Andrew's Church, Newgate Street, Newcasile upon Tyne, NEI SSS. The financial slatejnents have been prepared in complianee with the Clwities SORP {FRS 102) "Accounting and Reponllw by Charities: Statement of Rttojnmended Practice applicabl¢ to charities preparing their accounts In accordance with the Fitiallcial Reporting Stsndard$ Jppli¢able in the UK and Republic of Ireland (FRS 102) (effective l January 2015)" The Clwity i14 ¢X¢mPt from preparing a statement of cash tlows as it meets the requirements of a Small Chatity. The principal accounting poli¢i¢s adoptrd iti the preparation of the financial sratements are set out below. A¢¢ounLlng COnnI10n The filncIal ststemems are prepared under th¢ hislorical cosl convention and in accordance with the Accounling and Reporting by Charities.. Statement of R¢)rnrnended Practice SO11 (FRS 102). There were no material differences identifd on ad¢)ptson of the SOBTr (FRS 102). InsImOn Invesunents are included in the balance sheet ai market value. Proctrdg from sale of Tights i%8ues are credited against the cost of investmenL The Staiement of Fin8n¢ial knivitie5 in¢lud¢s the net gains and losses ari8ing on reVaIatIon and disposals througbout the year. Inv•slm•ntpKDpwtl•s The Charity's properties are held for long-terni investment. Investsllent properties are 8wovnt¢d for in accordance with FRS 102 and are held ai fair value. The &ssets are valued by an indetndent finn of chartered surveyors. The valuation is perfonned every five yeaTS, subje only lo obtaining advice as to the wssibility of any material movements between valuationg. Any mat¢ri41 surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficii below original cost, or its rev¢rsal. on an individual inveslmenl propety is expected kn be pern¢ in which case it is reeognid in the 8tatement of flnancial a¢tivities for the year. The Trust¢es b¢li¢v¢ that the policy of not providing depreciation is necessary in order for the f]nancial stat¢m¢uts to give a true and fair view, since the current value of investjnent proIrties, and changes to thai ¢UFr¢nl value, are of prime importance rdther than a caleu110 of systenthtic atjnual depreciati¢)n. Depreciation is only one of the many factors fleCted iti the annual valuatioJ4 and the amount which mighi otherwise have been included camiot be separatrly Adelltified or quantified. Fund 8¢¢ounting If the Charity r¢ceives fiwds for a particular purpose specified by the donor then the amounts #r¢ inelud¢d iti r¢strict¢d funds and the relevamt expenditure is charged agaitist the Investment In¢ome Income from bank deposits anddiviiknds are accounted foron a receivedbasis. Rentals receivableare credited Tn the statement of fla[ acuvitses on an a¢¢ruals basis recognising income receivable for the perio 10
Saint AndreWs Church Estate including the Charity of Sir Willlam Blackett the Younger Notes to the financial statements * 31 Docornbgr 2023 1. Accounting policies (continued) Rèsour exp•nd•d Liabilities are ttwguis¢d as resouTces expended as soon & theTe is a lcgal or ConstCtIVe obligation committillg tb¢ Charity to the expenditure. All expenditutE is accounted for on an a¢¢nlS basis alld has been classified uuderheadings thai aggregate all COSLS related to the category. Where expenditure falls wholly within one of the expenditure Categories contained within the Stateent of Financial Activities, it is shown wholly witbin that category. Other costs are allocated to the expenditure categorie5 by managemeni on a reasonable and coLsist¢Dt babis ea¢h year, having rewd to the proEx)rtiou of t1¢ or resource8 expended on each activiry. 2. Investmont income 2023 2022 Dividends Jntere5t receivable Rent r¢¢¢ived 19,021 361 194,659 12,714 142 211,620 214,041 226202 3. Resources expended 2023 2022 Expendilurepayable infyrÉherance ofchurity's objeciives- unreSIr1ed Diocesan quola Repairs and restoration costy Donations Music Scholarship Support costs 29,730 15,161 29,730 24,174 5,0(X) 6,735 44,139 11.300 51.689 107.880 109,778 Expendilurepayable irtfyrthernnce ofcharity s objectnYs- reslrKied Music holarship Heating funded by Dioces¢ Repairs fimded by illrn¢¢ Claim 2.650 2,460 2,096 12,714 11,192 13,842 17,270 Fundrniiing tnvebtmentproperty costs Inve¥trn¢nt propety management costs Investmeni management fees Support costs 25,552 7.440 4.966 51,689 19.060 7,440 8,350 46,234 89,647 81,084 11
Saint Andrew's Church Estate including the Charity of Sir William Blackett the Younger Notes to the financial statements at 31 December 2023 Resources expended {continued) Supporl costs ofcharilable uctivili Accommiyjation cxpcn5e5 Professional fecs Sthff ¢ts Other administrative costs Independent examiner 48.726 28,891 1.775 61,368 235 200 52,764 1,788 loo 103,378 92,469 Allocated based on titne spentby staff 50 /0 to ¢lwitsble tiVitieS and 500A to fund rdising No Temuneration waspaid to TnteeS An the year. norwere any Tru5teG8' expenses reimbutsed. Th¢ stslycosts were in respect of the vergels salary, and the saEary of the administrats've assistant which were paid on b¢Ilf of St Andrew's as well as a contribution to costs of Revd M Hills. 4. Investment properties FreelzdProPerty Valuation: At 31 D¢mber 2022 and 31 Decet]Jber 2021 2,700,(XK> The freehold proiKrty C4)nsists of.. 91195 Per¢y Stree( Newcastle wn Tyne, NEI 7RW- this prqxry was valu¢d by Joijnsoll Tu¢k¢r on 24 May 2022 at £2,000,0(N). Bradburn House, (Ano Northumberland StreeL Newcastle upon Tyne, NEI 7DF- this prop¢rty was valued by Johnson Tucker on 24 May 2022 at £700,(MK>. These properties are leased to tenants under operating leases, 91195 Perey Str¢¢t over a rattge of period8 with expiry dates up to 2028 and Bradbum Hou&e with 92 year5 rema1tg. 12
Saint Andrews Church Estate including the Charity of Sir Wllllam Blackett the Younger Notes to the financial statements at 31 December 2023 5. Investments Unres¢ricled fvThls Toial Lifled Inveslments Cash Marke¢ value at l January 2023 ttss Disposals Add Acquisilions at Cost Change in market value Li>ss on disposal Dividends and interest Jnvesttnent management fe 572533 {41,848) 69,677 19,553 (2,893) 27.092 41,848 {69.677) 599,625 19,553 (2,893) 17.266 (5.806) 17,206 (5,8061 Market value ai 31 December 2023 617,022 10,723 627,745 HistiTrric Cost at 31 December 2023 567,733 All investtnents were managed by Brewin Dolphin. The Trustees consider indivi(lual investment holdings in exce&8 of 10/0 of the portfolio Yalue to be me[la1. there were no mat¢rial inveslment holdllws in the year. 6. Debtors 2023 2022 Prepayments Balauce beld by propety manage Arrears of r¢nl 1.755 21,647 1,167 8.236 10,867 11,125 24.569 30,228 7. Creditors 2023 2022 Trade creditors D¢f¢rr¢d rcllthl income 14,440 8,117 10,764 683 22,557 11,447 Related party transacllons Th¢ Trnstee5 are tM)th chuTchwardens of St Anth¢w's Church. The Erallt5 made to St Andrew's Church foT repairs and nIntenanCe are set out in note 3. 13
Saint Andrew's Church Estate including Ihe Charity of Sir William Blackett the Younger Notes to the financial statements at 31 D•¢ombor 2023 9. 8equo8t A¢¢ount This account represenis the Charity of Sir William Blackett the Younger (St Andrew's Ancient P8rAsh R¢li¢f ill N¢cd Charity) 2023 2022 Balance as at l January 2023 Investment income for the year Expenditur¢ during the year 20 20 Balance &$ a¢ 31 Dec¢mb¢r 2023 20 20 10. Taxalion As a gIstered charity the entity is not liable for any corpordtion tax arising from its activities during the year. 11. Analysis of movements on funds Ar l Jtsmiary 2022 Income Expenduure Invesimeni Los.ges 31 Deeefftber 2022 Transfers Unreslricted Genernl 3,470,836 214,191 (187,527) 16,600 3J14,160 Reslricied Music scholarthip IATrnation r¢ grave Insurance c]aim 2,650 24.877 11,192 (2,650) 24,877 (11,192) 38,719 (13,842) 24.877 Total funds 3.470,836 252,910 (211,369) 16,660 3,529,037 14