7y THECHURCHOSeeking. DIWESE C NEWCASTLE •8énding. Newcastle Diocesan Society {A company limited by guarantee) Annual Report & Financial Ststements Year ended 31 December 2023 Company number Registered charity number (X)021135 247234 A large print version is avaI)Ie on request from Church House st John's Terrace North Shields NE29 6HS Ethmail: info@newcastle.anglican.org Telephone: 0191270 4100 •AD8)MUI 1310912024 COMPANIES HOUSE A27
NewcASTLE DiocesAN SOaErY coKrENTS TABLE OF colENTs PAGE NUMBER Diwectors, and Trttstees. Annual Rerrfxt Legal Obj. Aims and 0tr4ectNes Acl¥•vem8nts in tho year Futwe Flans Finan¢i* rev Struciure and Go¥emanc8 Trustees ReSpoMbileS AdmKW¥trati dthl$ Indewdent Auditctrs Report S&itement of Finela1 Ac11ve$ 10 IwKomg EXpeThJilU fvxount 11 Balm Sheet 12 Not8s lo tho Finartial Stst8m8n 1>19
NewcASTLE DiocesAN SOCIETY The dir•ctors. who arn tNstees as ts crw is a dwrity. prgwt their annual rep)rt together with the audlted financial statements, for the year erKJed 31 December 2023. Leyl ObJe¢ts NoKasUg DIe Sowy (tho is a rgJbèr¢d dwity (Charity number 247234) acting as trustae and stodian ¢wustee wpongble for Irusl funds and heid upon trL for thè tlcttse of Nthvcasue and Parochial Church cou>1$ IPCCSI. The Society meets at lèast tsic• a year to and confim adions andlor decigons taken fegards to access to. paymenls from and management af tntst lthts. aThJ Ihe allocation of grants from trusts in its care. These a¢ons and decigons a uniknFinned by the iJio¢esan ryI tscirwj va$ of s••klng, sharing arKI sending. The SoL>8ty acts as wthlian Iru8 in relK)n to * Hlda¥ TnJ4. 4 $8paratdy wlster&J chaiity. and also In The directo are awwe of th8 Charity Commissrm's gLMdarth on pubbic benefft wi The A(fvancèmènt of Religion for Ih8 Public 88nefit arKJ have h•J rw to it in their MintraI cl the SOW. The th"¢10T$ believe th. lry Prom1rj the work of th8 Chureh of Eand in thè O¢ese ( N8wcastSe. the helps to promote the whole mission of the Chw( lindLJding pastNal. aThJ ecumenical) more effeclively, both in ts Dict8 of Noa$ll¢ as a and in its IrvthhjOb pawiths. and Ihat in it F0¥1 a benefft ts thè Kthi Alrns * obj•ctiv•s The Society airns to FYornrAe. faL>lita& aryl as%51 wilh thè aThl Frtxpos•s of the of England for the The spriC ams and otythes for we as frAky. To manage the fijnds in ts <krtig5 and pOnsibIl¢S •xtrclsln9 appropriat¢ stth¥ardship on Ixhalfof the NeI$t1e Dictesan Board of FinarKe {ND8FI and PCCS. To Mon1 the perfwmarLce of the investmert managern on behalf of Ihe Society and providg appropriat• thice antj direction as re4J. To monitorthe administratic•i wsts oflhe Sc¥xtys uMeStri The s19ty meels •nint51r'on (glS frrn $ (y4n ILWKIS arKJ ro thayes are made lo in(liv¥Jual trust funds. Gr4nt4maklng Ib•fi•fi¢iary-sele¢tlon) pol This is carried out in adance with ts tenns •KI otrieLvts of ea¢ Kmdual IrLtsI urJer the wnbrèlla of the Society the cmrt aTrJ aFwoval olthe thIeLt$. AchleveM•nts in the y Rèvl•w of 2023 Inveslrnent Inccxne of U35.898 {21)22: £255.6651 T5¢ts w increase d31.4% on thg year. £328.234 {2022.. £153.1831 was paid of thaFitsNè acbvtb¢5 duriTr) th• yèar. a 114% incrnasè fmm th• ewous year. Partshes used the funds for a number of reagjns indudiTr3.' a$sisting wpport ¢urat•s'. th8 paymwl of pwish shwo.
NEWCASTLE DIOCESAN SOCIETY FOR TrEYEARENDED 31 DEClBeR 20 2023 also induded a t the Grte Hutthywi FLThJ to the Board of Financg Of£150.(m to support the Board's cOrlbU1v to di¢xesan resOLy (thrth wgect. Operattonal perfom The d1CtorS continue to seek athce and gLwdance from their Pfofesslcffial aserS in relation to the investsnents. Thè Sctièty hdds 10 wtth R8C Brwn D¢4phin rec4ve(10s part of 8 legacy from the late BishopAJec Graham. The SrKiety investsfv camal of all otsr funds in Ihe Central Board of Finances Inveslment Fund orthe Central Board of Finances Deposit FuThJ. All fuTrJs c4)nform to the guidance &iven bythe Church's Etrical Investment Athsory Group. Inv•stm•nt p•rfornMnc• The total Yalue of investsnents {exdJ[rj shts1-twm cash dewsitsl at 31 December 2023 was £10,581,655 12022.. £9,704,658) and the totsl relum M inveslmenl w85 10.52% {2022.' -8.44%). The LrealIsed gain in the luo ofinve51ments durirg ts year to £864.881 an wease of 8.9% cfft equty portldio. Futh Plan direCt(S intend to continue to admiThster the fLwMls in meel the tsy to day Nnnirg ¢osts from the general fd. The speo.fic objecb"v8s for 2023 r8mained as'try pro¥iw$ years. Pboase refer to aims and objecbves on page 1. Fknandal Re¥le O¥•rall finanei•l iltsilion Income before revaluatAM 8djustmènts tolalled £448.204 (2022.. £4.765.¢X17). This comprised £112.306 donation income. and £335,898 irwè5tment Ie. EXdIlre arUnted to £328,234 {2022'. £153.183). The Ststement of Fin¥n¢i A¢tMls {SOFA} tr)r the year net inca)rne of £119.970 {2022'. £4.611.824) Aftw acntO tr £864.881 fry th¢ ygar inv95tmgnt assets. th? net movewwt in fLnds amounted to a suwus of £984,851 (2ff12: £3.620.750). Durirs year. total ffijnd balan¢os in¢reased £13,264.845 to £14,249.. inclwl Sowc 100% of the irrne of the ety is frrffi imiesbwtts LY usad to wxr• in¥•sIm. After makn.ng enqLUri8S th• d(v$ ara Satisfi that the &¢iety h05 adwuale resoLrces to o)ntinue to operate as a going concem for the foreseeable f•re and have Fry)ared th• finaal slatemants M that ba$. Inv•skn•nt pollcl•s Th& memorarum and tio$ of Asswation of ts tharity permit wide of investmenL The Soc4ety investment strabJy is based cn key p(4icies: Elhic41 inv8slm6nl - This Iude$ ensuriThJ that Invesknents arg herd in o)npans which have high stsndards ofcowporale governare and act in a resportsible way Iv4vard5 Stakeholders. (unds and as a resuli foll a c•org pnthnt approath to investrnenl dec4wns. Invesbrnnt kny4erm furvJ5 is airn primwly at g?11rj • su5tsinabl8 kKome th duo regard to tha naad for the pr•s•vatiM cl CotrI and p)oblo r•J to r•afis• lo meet owational
NewcASTLE DIOCESAN SOCIETY Reserves poliey and to OSSiSt at certain limes of the year wth cash fttyv. The laig8t level for estrICted reseryes set by the direclors is £250k and the majoiity of these reserves are hdd in investm$nt fLwKts to 9onèrate income for thè sety which can be applbtd to charrtae WfPOSts irt the fulwe. At 31 December 2023 the arnOt available In the &xieVs general fund was £284.013 {2022: £278,770). Thè directors ccnfinn that the unrestricled fijnds are adequate aThJ readily avalabk to I1 ihe olligaticrfls ofadMls1n9 ts Scady in the f(Iwe. The Socaety is a panY Orab in ErvJland and liffliled by guarantse (Company rtyisirdiion number c21135) by its MeMornndm and tideS of AssLxialKffj dated 1885. 11 is wistered as a charity wlh the Charity Commisscm (Charity rÈgistrnts" nthmber 24n341. The Board of Directors has ddegaled responsiknlity the day40-d8y management of thè eompany to th$ Company Secretary. whth involves the Mantenan of the accounts, dealing vdith general enquiries from directots and fCAlon9 IhrtsLh the deositxts mad& by thwctors. The flirtorS meet at leasth¥ice a year. The chairman does have aulhority to make derysOr on behalf of the directows b&een rneetin if il is thought that the matter is urgent. Any such decision is confim)ed by the direcaows at their nexl meetirrfJ. All decisions taken at the meetings are recorded in the minutes. thre¢lors who seNvJ thaiity OJW the wiod are listad cm 5. Thè dtrtctors are appointéd by the Sttiety after nominaiThi by a written as reqred by the thaiivs Articles of AssiatiOn. The arbdes a150 Stipate that Thjt more than fyvonty perscS may be w wninated as members of the Sw d1r0 cme year. DI¢t5 a givw iThJt10n trair•rw3 fiwst appointed arKI ra¢•ve ong¢irg trainirrfJ. as approwiate. Wlwe there is an identsfi&J training Ihis is provided in h(xJss. or rf necessary temal trairrin9 bg arrary8d. Dlr•ctors'and T. rnspNMlbllllle5 Company law requi the to weparB finarKial ststernts for each financaal year wthich giv$ 8 and Iwr view of stale of affairs of the Company and of the irvJnirYd crf r$scWr of Ihe mP for that year. In prepariThJ ItK>se finarKial state the directors are r&wired to: Observe the methots aryj princapa15 in ts chare5 SORP. Make jLemènts aTrJ estim8les thal are reas¥ble and kyud Follow appliCae aCCntirj standards and Ihe SORP. sui¥t to Y matwial departures disdosed aTr explainod in Ihtr financial ststwnents: Prepar• thè finan¢ial ststements th¢ goir¥J c¢rt¢m ba$$ Unle il 1$ inapkwtyiiato to pr•$ume that the company Mll eontlwo In bnes% The direcltys arts tesprxe for keepirvj prop¢r accountiffj r#cords wthi¢h th's¢lose V+ith reasmable xcurxy al any Ilm• th• finan¢iel ption of tho company and to enable lo •nsur• that the financial $tst•mgnts ompty %4ith the ComparM8s kl 2006. TW are also respwsiLqg for saf&JuardiTrJ thg CofFal& and trust as of cornpary and ensLwlng their a¢•ban urKler tharity L8w and for t•kiro 10asonab stsps the pr8v8nlon arJ d•taL*on offraud WKI other irrtydariti•s.
NEWCASTLE DIOCESAN SOCIErY DIRECTORS AKI TRUSTEES. ANNUAL REPC Thg directors as a Board confirn that to the best rf th8ir Ihere 15 no irbforwwthcm relevant to the audit of wlmch the auditcxs are unawa. and that they have eh laken 1 nY steps to ensu that they themsdves we aware Lrf all rnhva)t audit infLffi)ation aThJ that this Inffi has mmUnICated to the audilLY5. The Soriely is c¥slothan truslee fry trust investment assets tmth a market value of £2.817.180 at 31 December 202312022.. £2,574,921). sIety also Iw)Ids on behallofihe Llitxesan Board of Finance IND8FI and Parochial Church C(wJrKils IPCCsl as cu51odian truslee. There Ere 125 prcwlps hdd by the Society at ytsar 8rbJ. Du8 lo the nature of the assets it is nol rx)ssitrAe to tA&x a vaation on the land arnj buildings. As these a cuothan assels any lUab. 7ArJuld be for disd0 purposes (ffjly. As the NDBF aThl each PCC ts a sepae charity these assets ¥e sepatety Irom thos• cl th• sty. The Soraety has a dose rdalicrfth"p wtyth tho Dioc8san Board d Finaru Uff¥ted (N08F) whSch has trust fvnds h•hJ by the Souety. Rlsk rnanagement The threctors have examined the m4or tMfy"ness. strategic and operatToro1 risks that Soelety faces and confinn that systems have been established to •nat4e re9 report5 to be FYLhJuc8d so that th8 necessary steps ¢an be tsken to 183¥en these risks. These risks by usiThJ Inveslffwt management company CCLA to mane the fur#ts. The au¢Jitor is ¢JeIe io bè reapwjinied undèr sèdM)n 487 121 of tho Companigs Ad 2006 untyl 01h818? resdved at a genw meel¥vJ ofthe c¢yi)pany.
NEWCASTLE DIOCESAN socieTY Dlwectors The Btshcrf> of Newcaslk. Ihe RwJht RevererKI Heben.Ann HaFUry lfr(Kn OW02r231 Th8 Acling Bishop rl Newraslle. the Fkn"t ReNpreryl Mark Wroe (to 0210V23) Archdeacon of Lindisfam•. Venera4e Dr Cath¥ine Sourbut Gm¥es The Archdearn of NorthLwnbedand. ts Venerable Rar A Wood Canon Simon R Harper (Chair) DrJohn C ApebY Elizabeth A Kery 18abell8 MCDOnal(80 Shane Wathj Alitti UNW LLP Chartered Accounlants & StatutOryAjilL¥ Ctygate. St. James. Boulevard NÈwcaslle uponTyne NEI 4JE Sirtons The Cube. Barrac Road NeKasUe uporb Tyn• NE4 608 Bankws P¥da Bank 5 St Ann's Street, Quay>J8 Newcastle upon Tyre NEI 28H CCLA Investment Managennt Ltd Senator House 85 Qu84n Victffia Street London . EC4V4ET Bre*Sn tknlthln 12 Smithfield S¢r¢8t London ECIA 9LA
NEWCASTLE DIOCESAN SOCIETY Church k SlJohn'sTerrace. North Shie Tyno and Wear. NE29 6HS Tdephone.. 0191 270 4100 I))IY21135 247234 By orthr of tho lyjard rLbL. Canon Simon R Ha Director Date: 4th July 2024
NEWCASTLE DIOCESAN SOCIETY INDEPEKIENT AUDITORS REPORT FOR THE YEAR ENDED 31 DEcaieER 2023 nlon We have audited the financial atements of m+¢8$¢ DKxesan kn?ety for the year ended 31 De¢ember 2023 which ornprise the ststemwl of finandal acbwlies. the •r(¥ne and expeThJiiwe cAxinL the balan sheet and the notes to th$ financral statements. induding a summary of sigThffic3nt 8cc(yJntir¥ 1$. The financial reportiw framthyo that has been applied in their prep8rydl is a0ica• law and Urrted KIr0rn Accounting StarKt¥rds. induding FRS 102 Tr Finarrial ReportirvJ Standard appIate Fn the UK arnl Rewbfr of Ir¢l•rwY (Unlted Generalty AcLepted AA)JntIThJ Practice). In Cur opinion thg finanoal $latements'. give a truo and fair vièw of the slate d the dlartsble ojrnparrfs affairn 88 * 31 De¢w)ber 2023 and of its irthmry res[CeS and applmation of re50uwrxs. its IrMe and expwKliture for the year th ended: havo been property prepar&J inacc(Ydance wilh United G¢rwally Aettpted ACuntIng Practice., have been ppared in ance with the Tequiremenls ofthtr CcMnpanie$ Act 2006 and the Charities Act 2011. Baslsof optnlon We ¢(dUcted our audit in accordarte wilh Intemattonal Slandards Awjitirtrj {UKI {'ISAs IUKI'I and applicable law. OLf reSWsIblI1tres under those standards are des¢riW in ALKIrtS respsIbilI1•eS for the al11 of the fina1¥1 slatèm8nts. secticffj of our repcfft. We are iNkpernJent of ttE charit8blè eampany in nce wth the etlical requirements that are relsvant to our audit of the finarSaI slatements in ts Uniw Kirylryn. indudirvJ t Financial Reportiro Councls Ethic Starbjard, •rKI we have fvINl¢d oltrw ethKxl respcmsibilities in aco)rdance with reqU1m¢nIS. We believ6 that the aLJit evid we have obta¥Ed is wffK4"•nt and appropriate to provide basis for ¢yJr Opwi. In •wliting thè finartial stslements, we have coK4uded that tru5tees' usa of Ihg rA)rttm basis ofacoyjnlir in the preparation of Ihe fincial statements is appropriate. Based on we have p8rfc¥ln. we have not •derrtt any material uncertsintie$ rslatrNJ to events or ondilions that, indivKlualty or cdlectively. may cast sJniftanl dOA tho enti$ abilty tr Q)ntinue as a going Our psibIlitieS aTrl the respLWtrflilies ofthe INstee5 V•ith to g)iry o)nc4m desuibed in the Tdevanl seclions of Ihis reporL The othor infonnation comFYFSes the irtsmatiffj in thè truslees anrnml report. other than the finJnty81 statements and rAr 8uditorf$ report thgrnc¥i. The trustees are re5PCrritle for ihe other inf0rrn8t1 eortsird within ths amual r8POrt. wnicm on the financial statements d085 not c4)ver ts otrw infomiatson and. except to the extent otherwise explKily ststed in our rewl. we do not axpr8ss any form of assurance conchjsion ihereon. Our re5ponsibilty 1$ to read thè other Inform a1. in d(#ng so. consi(kn Vtsther the other information is mat8rfalty InnsIStenI with the ffinar1 statements or our knthvWge rAtained in thè ¢Axvse of the audrt or otherwi$8 appea to be materialy misstated. H we *Jfy s Mat31 in¢onsislthxtes or apparent material mrsstatefflents, we 8 required to det¢rnNn¥ ¥$r this 9fv8s rlsè to a material misslatement in the financkil statements themselv. If. based on tha work we have perfm•d. cor that Ihere is a Materi misstat¢ment of thls ¢Xh8r hf0rniatl. we are requlrod to remthat tscl. We have nothlng lo rop(wI kn INS rwwd.
NEWCASTLE DIOCESAN SOCIETY INDENDENT AUDmX¢S REPORT FIJR ThE YEAR ENOED 31 DECE11881 >)23 In ouropinion. ba$•d M the wot undortaken in the ¢(xws8 ofthè the 1nfLvMalw giv8n in thè dire¢kn' and InK%tees' rwl for th8 finaThia year which the financial The thr&Xor5' aThl trusiees. Terx¥t has been wepar&J in acc4xd8rr ryih 8ppli¢•bl& l¢gal rw4uirwnenl Matters on whl¢h we are lo report ty excep In the light of our knOedge and undethrKlirvJ ofthe (knitth cornpany aFKI its envwnm¢nt ¢Ird in th& ¢oursa oflhe aud. we have rnt identitsj matwol rr1ss1aerts in the Intstees. rep We have nothing to report in respe(a oflhe fc41th1ing matters in relation lovthK C(wnpanies Act2006 requires us lo reFrtNI to you if. in our ownion.. ad8qU8te accAyJntin9 r8cc¥ts have rnt been retum$ 8dequot¢ fryryxathlit have r¥)t been recelved from branchès not visit by us: or Ihe ffinaal slatements are Tr)t in agreement ith the acci¥JnlirvJ rd5 retums: c certain disdosures of knJstees' remurations specified by not made: LY we have not receiva all the inf0mw1ic and explanalions wuire ts our audTrt.' r the trustees were not eniiled to prepa the finala1 statements in accCance th the small nres. ime and take advantage the small cornpar•es' exempti$ in prwng the direcarys and trustees. pt. Responslbllltles ol dknethrs. and Inlee9 As explained more flY in the trustees. responsitslities staterTrent. the direclors (who a also the trustees of the eharitable company) are responsible fN the weparab.on of the financial statements and for being satisfied that they give a Irue and fair view. arbJ fr)r wch intml wntrol as the direcary5 de1errnl is rcessary to enable the proparotic of finanaal statements that are free from Matla1 Miss&ement. whether due to fraud or error. In prering the finanrial statemmts. the dire¢tor$ are r¢spontrAe lor 8ssessTrrpa ts ¢hwttabk u)mpany'$ ability lo tinue as a goirvj conwn. dixkwng. as apFIlb19. rnatte rdated to goirwj c4rwn and u5iThJ the goirwj o?nrAm basis of accountiThJ unless the trustees eits inteNI to liqLidate the drtable cc¥npaWs or to cease operabons, or havè no rèalisli¢ altemativè butto do w. Audltorfs rnsponslblllll•s lor th• audlt of th• fin¥Kl•l slat•Trwts Ow obje¢tive5 are lo oblwn reaxtsble a$Se ab(Mrt the finarKial t¢mgnts 4$ a whde om fro0 from matla1 misstatement. whether due to fraud or error, and to issue an a dIS report that iThJudes our opinion. Reasonabla as$uranc is a h•Jh of asgJrar. tArt is rnt a guarantee that an audit conducted in accLJrdance with ISAS {UKI wll always detect a material misstatemt when it exists. sslernts ran arise from fraud or errDr and are considefed matla1 rf. individually or in the aggregate. they old reasonabty be expected to Influence Ihe e¢xmmic dASIonS of Ljsers tsken the basis Oft1 finarK4al ststements. Irregularibes. iJudIng fraud. afy Insta of non<¢ml• with l•v$ and rogulation$. We dssign prccadures in line wth our responsibilities, oullined above, to detect material misstaternents in respect of irregularities, irduding fraud. Th8 $poGifi¢ pCedureS for this ¢nga9sm¢nt and the extent to which these are capable of detecting irregulawities. Iuding fraud is dthled belcw. We Idenlrfd ar8as of18w and rwJuiabons that ¢>xdd r¢oscbIY bo expeded to trwe a matstfjal effect on tha financial statements from our general and seclor and Ihrowjh discussions the tnJ5tees and other marwement la$ required by 8LKlititYJ slandordsl arwj of thè ttoritablo c<xnpony's legal eoff0spornCe. aThJ v dls¢ussgd tho tNstg8s and other manag)9 rdlo8s aTrl wocedwe5 TegardiThJ complianc8 with laws arKI regulations. We communicaa identffied laws and rewlali¢¥ts t•om Mminod al•1 to ory indications of n0nthc0mpliar tlwhoul th• aLwJiL
NEWCASTLE DIOCESAN SOCIETY OEPE14DENT AUDIYORS REPORT FOR THE YEAR EIW 31 DECEMBER 20ZJ Firsty. charrtabl• compgry is to laws #nd rwJUbtrcX that dirwljy affect Ihe fin1 slatements induding flnancial reporting legisla11c lindudirvJ Tthted wnpar#es aThJ tharili8s l&Jidabonl and taxaticffl l&Jislation èrKI we a$ses5ed th• extnl of rAlance with thes9 law5 and regulations 8s part of rAW procedUS the relale(l fir)•K¥al statement items. Secondly the company is many other laws aTrJ regulatws whpre lh8 cOUenceS of non. Comlance COLfftI have a matefial effect (m amtyjnts or disdosures in Ihe financia slatewts. for instance through the impostticn of fines ty libgation. We identsw fdltyM"ng areas as those rn(1 lik¢ty to suth an efft.. dats protedion and ¢¢rtain asteca5 of ctywny kgislatic, wnt5iry the nature of ts thawilable compan5 adivities. AuditiryJ stsThJaryls limit the rwuired aLNJit wocedures to Klentify n(4CoMpliarO tw laws and regulatiorE to enquiry of the trustee5 and other maro>ment aTrJ Inspecti of wulatw arvj l&Jal c(ffresp¢Mdertt. if any. Thr thèsè procedLtr•s. we bEcam¢ avrnrn of actLAI or SUSFrfl8d non-compliarKe and cg)wd¢rnd eff1 as part of our prctedures on the relat fina181 ststement items. The Yenbfied aCtl rMplianCe was not 5uffioenUy signiknnl to ryJr aL#lit to resuli in fLw1her disdosure wrthin tsjr iekmxl or ts finala1 ststements. "ng to the inherent limitations of #n a11. Itwt is an unavohlable rk that vo may Mt have detectod somè matsri•l mi$stat$MlS in the financxal Stalernts. even though we have properly plarmed performed our audit in cordance with auditing standards. Fcy examF4e. the further removed n-cOMpliance with laws and regulabons lirregularitiesl is from thè events and tr¥tslI<ms rèflected in the finan(?al statam$nts. likoty tha inherenlly limit procedures requred by a[lrj starthjards would idwtify IL In additlon. as with any 8uthL Ihgre reMa¥d a hi9Pr Ask of TrWoclion of IrregulatieS. 8$ th may invd¥e )Ilu$ion. forgèry. intèntional omisgon$. misrewesentabons or the override of internal contrds. We are not responsible for prevenb.ng non-compliance and cannot be expethl to detect r-ComEI0n¢e with all laws and re9ulab"ons. A further description of our resF)ngbilibes for the of the finanaal statements is located on the Financlal Reportin9 Council's website al: This report is made solety to the c115bIe cunpgry'$ members. as a Wy. w) w))rara ith Ctptw 3 of Part 16 of thè Companies Act 21XJ6. Our a11 has bsw undèrtaken so that w might statè to the charitst4• ¢ompany's members tlb)$0 matters we are requwEd to stste to them in an ali10S Tepjrt and for no olher puw. To the fvlllest oxtent FnItted by law. we do not asgJme respOntI11ty to anyone Otr than ¢haritable company and its members. 8$ o body. for our this rer¢t. orfor the opirwortswe have form&J. FOT and on behalf of UMW LLP. Stsbjtwy Audlt*x Nw¢osJ• upon Tyne Date.. 4. Juty 2024
NEWCASTLE DIOCESAN SOCIETY STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDEO 31 DECEMBER 2023 Restrthl TLI Funds orn• and vknlnts fmm: C)tiOr ImfbNrts 112J06 3280 112J06 4J119,342 33W8 255,665 7J68 44OJ36 I401 4,765IX)7 {272521 (3WI 282341 (153,183) P7352) (3WJVI 1328334) 1153,183) 09J14) 139J54 119970 4.611024 24.627 4&5251 434.(XJJ 8MJ81 1991,0741 In¢¢tho 4345 984851 3,620.750 Tilal brougm koud 278,rn 8,494179 4,491,196 13264345 9.6M.095 Tflal kYw*d W13 9,04Q484 4925,199 14249,696 13264145 io
NEWCASTLE DIOCESAN socieTY INCOME ANO EXPENDITURE ACCOUNT FOR YEAR ENDED31 OEC&IBER 2023 2023 448204 4,7651107 (3¥ts4) 1153.183) Expen41itsYe forth• y•¥ Nd lb)SSI C 119J70 430178 4ffj11,825 1375,7121 NBtir¢om• fol th• 551) 4236,112 T+Xal ¢omwehen5tv• 55V48 4234112 &Kdudth c(ffipty AJlinry)rre expwbjiim (kn4ed lffjm li
NEWCASTLE DIOCESAN SOCIETY BALANCE SHEET AS AT 31 DECEIIBER 2023 2025 2ff22 Flx•d ¥$80ts 111571.655 9.704.658 111571.(05 9,704.658 CuTh•nt awts Debtors.. amountstsnfjry ¢knvAhin Cash al bank and ift hand i• 593.899 108V85 1.855,050 1.7IO,CKS li 14.743) (49081 et current ossets 7&041 3560.187 14249.696 13304.845 Funds Efidowm•nllunds 9A199 4.491.196 Re5trfcled InconR 9.IW484 8.494.879 Um$triCt inMmi funds 2W13 278,770 T¢rta] fwml I496 13264.845 Thasa 8CCOLmts h8v8 been Kv•pared in ace•nJau ilh arolScat4e to CaDieS wty'e(a to the small companies. wirre. Th8 notes on pag85 13 to 20 form clthes• frnntsal statem•nts. The aCCnts apprrNed by meners of Newcasue Diocesan Society on the 41h 2024 are signed on their behaby: Ccfflpany number ¢))021135 12
NEWCASTLE DIOCESAN SOCIErY IIOTES TOTHE FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2023 The finawal ststements have been prepared uThJer Ihe histcyical (y)st nVenI10. with tho exceplion of fixed asset investmerts are I(uded at mthet valLO al the bance sheet date. The fmancial StateMts have be8n prepared in acconce tho Statwn•rt of Re¢¢ffimendeiJ Pra¢li¢¢ for chaties (SORP 20191.the Cwanies A¢t 2006 and appticabltr #w)U #tand¥d$ IFRS1021. Ba$1$ of wepark The 80grd prepares its •nru81 finawvJ Ihe basis of IStlC41 cost tho ¢aryirrfJ of investment assets (Indlij invesknènt prrw1iesl at mathat vabL. financial stalemerts are definibon of a public benefft entity under FRS102. Th• Stti8ty &ts a$ a trustee rnsponsible frK89 Trust F15 Trdd rm behf0ft Di¢xes• and Parochial Churth Coun¢ils. Ir¢8 rècaved and exFWKh'th on behaff of aTrJ distribukn fry the specffied purposes of the furK15 in tnjsl are indLJed Statanert of Financaal Actmlies a1 are alleated to Ihe capital or incL¥ne furmls as aprryiiate and in acCudanC wilh the temi$ of the tntst 4Jeed$ of th indNidual fijnds. Unrestrlct•d funds repsent funds vhHch e exndable at the dip47eliM of the directrys in V)¥ fvrtherance of the rt4e¢tives of the charity. Sh fvrKls may be held in order to finance both admiThstration and operntional ¢¢£ts. for speafic purposes. These a exlable at the discre1K of the S¢ty adiThJ as twustee in fw1herance of th¢ of the irnlivKlual trusL ReStr1d fifftds may be restrthd fvnd$ orKVor capitsl fimds. whern thÈ assets are requir•d to be invested or retained for aclual use rather than expj¢d. Endowment ILnds represwrt grants. d(WliS and legacies rttwed where the doncf has stipulated that the (rfe may be used tr gerral wrpos•& thecapitsl nyjsi be rthrd. pgckal tsusts. {as dèfined by the Chariti&s Act 2011) arKI any othwtrusts where ctrfnpany acts as trustee and ¢ontrcAs the managemont and use oflhe fvTrJs. ar¢ indJed in thg wnpany's own finanual stattments 8$ charity rthe3, S)lt to the Charity CrynrnisshonS delemination of iheir acccxmting status. Trusts wh¢r8 the 8o4ril a¢ts mY as CUSt(>Jian tntslee (tr over the man•werrt ofthe fijnds are not Iluded in the finarla1 statements but arn disdosed in the Dirxttys, arnl Trusts¢$' Annual Report. Golng The Society hd$ s4rtfirient C45h res8MS to allw it to a0 to meet its OblyblS as ty fall dug for Iho ftyeswblo lutwe. All incomo b Induded in the Statement of Fmancial kaivkns (SOFA) the Board is b3ally enbtled lo as incomg or ¢apilal respthdy. ultimat• re¢•pl is pK4)atrJ• and the amount to recoanised n be qvonufied wth leasble accurdry. 13
NEWCASTLE DIOCESAN SOCIETY NOYES TOTHE FINANCW STATEMENTS FOR YEAR ENDED 31 DECEMBER a123 Where a daim for waymenl of irKome tax has wil be made. inoyne is gross for thè tsx The fvllcthing accounlwvJ pc4iues are applied to IOMe. Legacies and donalicfts a acccyJnt for conditms for thr recwpt have been rt and the amoLml can b¢ rdiabty eslimalgd. Lry•¢ies rer4iv8d in fomi of prop8rty w inv8skn8r are accounted for at the lower of probate or rnaet vaKE. Monies from endowment furKls are dlwated to restricbj ivK(¥ne fijnds in aCCcdn¢e wlh trust tenns. Expenditu is irK4LKled the accrtwl$ ba&s and has been dasgfRd ladiTrJs that aggregate all costs related to the SOFA categcrfy. The SoLaety's rwatyrwj cThts iwKJLth proftrwonal loès and othor fefated c4)sts representiThJ rnanagom8nt and athnirwstra11 expwwjiture. Distrilythions to beficIalleS are accoun experKlitwe has been incwred in respect of the variou5 fijnds. [lisbUernts frun trL1 fLN$ are made stricity in aOrdanc¥ terms of the Injst for the individual frs. whe the terms of a spgific bjnd requi the consent of the socty, INS Is reeorded In the mirwtes ofthe meelir¥J at dlscussed. $ts wr¢sffjt ey4)gndrtw8 ths of ts If1 funds. LYganisatiLThI administFalion. and crynplIar 7Mth conslitulional ¥fKI st¥tutryy rwwirem¢nts. costs ar• th to the General Fund not the indNidual trust fuNts. List8d invéstmfjnts. which b•8n dassift•d as assat iMystm•nts. arn measured initially and sthsequenfjy at fair val. The statement of finarK3al athilies irnludes the net gairts aTrJ losses arising on r8valuations and dis[lS thrwJh(#rt the y8¥. Invostrrwts tld by as ¢yjstfy1n trLt88 are not included in these acc<)tmts. Tax•tiQfb The activitses ofthe Society we exwnpt frryn taxallr wKJer Se(m 505 of Inco and Ctyp)ralion Taxes Act 1988. D•btor4 Trade and other debtors are recctyJnised at the SetIlen am¢JMrt. Prepayrnents are valued at the amount prepaid net of any tTrde dIscoL due. Cash at Bank and kn haTrJ Cash at bank and in hand irKhths aThJ In highly liqud MNes1mts wlth a short matu of tIKee months or less from date of acqUIsti openiryj ofthe deposit Milar acoJunL Uabilibes ¥re rwnised when there is an obfylTh al thg balance dale as a resull of a past evwtt. it Is probable that a Iransfer of eCon0ff tenefit will be requir&J in sewement. aTrJ the amount of the s•tUgmont ¢an b¥ eslimaled rdiabty. tiabililis ar 1wnld at th8 amwnt that the wmpany ¥nti¢ipate$ it 11 pay to seth the debt or the amount it h8$ r¢cwed #s 0rd paymtrnts for th¢ goods tx SeCeS tt mLtst yowde. Provisi(Yts ar• m•# at the best estimata ofts amounts required to selY0 tho obl3ation. Wharo tho offact of the tim• valL is malwial, provision is bosod (rf) pro1 valuo of those anKXW)ts. disc&NHrted at the dSscount rate that the rSsks 14
NEWCASTLE DIOCESAN soaETY NOTESTOTHEFINANCIAL STATEIEP4TS FOR YEAR ENDED 31 OECÈMBER 2023 sperafic to the liability. of the discw is rnISed intsrtsst payab arnl $iml8r ¢horgS Fin4ffi¢io1 Instrlts The company only ente into financrdl instnjments 1rd¢onS that result in ihe recognition of basic debt financial assets aTrl liabileS ffike Irwje olher xcounts recervable arKI payatk. cash arwj bank balances and loans to ty from rèlatèd parts. AJI irthuments are due vhthin ¢)ne year and are measured. InitilY and &knsequenlly at ts Ir8ns•kn At the end of eath reportKV debl fmrKy#I asséts are assessed fry impaimènt. and trir ¢anying value r&Juced rfnecessary. Any Impalmrt (arye is rwThs&J in the statement offinanlxal arAMbes. Estimates and judgmwts are wrtinualfy 9valuat aThJ b¥sed m historicaj eypeliw 0th8r factors. indudir#J experta1$ of ftrture everrts Ihat are beIVed to be reasonable uThJer the In preparing these finanual statemerts the trustees do not c(¥)sider Ihere were any Signfficant areas of IJgMent or esb"mates Ihatwere requirrd in applyThJ the c(Wan$ pOlS as set tyjt ab. 15
NEWCASTLE DIOCESAN SOCIETY IK)TESTO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2023 2 [atiO1$ lthrestrwxed Re#rthJ En(ly•m)ent T4 Fw¥ts Fur FuTrts 2•23 2022 D(atior 112,306 4.509,342 3 In¥thl in(xJme Reth)JgJ T1 Fwds Tc41 Funds 20 2022 FurKts thd$ Tewdb InleTeSt rewalle 7.796 254.410 73,620 262,206 73,692 238,344 17,321 . 324030 J35P8 255,665 4 Costs oltharilabk thiEs b fiJrbJ t e P&KbJ Tc4 Fd$ Ttlal Funds FuThJs 2022 &art fijbjry athi SuFWrt C(6ts 10.(XM) 17252 3ff1982 310J82 17252 135,678 17505 27352 ]1982 3Z&234 153,183 5 An81 sis of su ¢Jrt¢))sL8 FUTr Furn 2023 2022 5,ICKI 5J(rfJ 4,590 335 10,600 1,980 Legal Grant to N nts padt&3e I 1,100 974 ii,ioo 974 17352 112S2 17.505 16
NEWCASTLE DIOCESAN SOCIETY NOTES TOTHE FINANCWLSTATEMENTS FOR YEAR ENDED 31 DECEMBER 2023 Summary offvnd m¢Nemerts Bkn at 1 kEses at31 Unr•thd FA&' fAwral FuThas R•slrtcted Fwd. Reth'¢tsd Funds En¢h)r Funds: 27&770 7168 127.252) 24,627 284,013 8.494.879 440J36 {3J,982) 406.251 9.040.484 4.491.196 434,13 4,925,199 1336V45 448204 13282341 864M1 14,249,&6 BaiE¢ at 1 l)fyoiry W b)5 B•lancfj 31 r•sourc•s & trwhsfers De¢ 2022 lknral Funds Reslrtcted IrKoffle Fwth. Rethtsd FuTr5 EnthJwnt Funds: 325399 8J58 {17J)5) (37.482) 278.770 4211138 4.756ffl9 (135fi78) (338230) &494879 s.1(558 (615 J62) 4491.196 9.644095 471•)7 1153.18¥ 1951.0741 13,264845 Funds Iransfefred frwi end(wment to restricled fdS YesenI ihe unspent on end¢)wed funds availat4e for us8 by thè beneficiies. vhwth • hebj as cash depogts aThJ nol inVeStrrnI fund& No remunerati( has been paid to any th"red( eawity as a dir•Xor {2022.' £nll. Tha SocAety d08S Mi ho any employees.Al administrative functons ar• carrted oul by NDBF stsff and th¢ Society makes a wt to the ND8F in recognibon rA t"S assislance. 9rant for 2023 was £11.10012022: £10.61). 17
NEWCASTLE DIOCESAN SOCIErY NOTES TO THE FWANCIAL STATEhENTS FOR YEAR ENDED 31 DECEMBER 2023 Usl•d Inv•slmgnts ithin the Unlted Klngdom Al 1 January 2Q3 Additions Disposals Revaluation 9.704,658 631.406 {559.190) 794,781 At 31 December 2023 10,571.655 Historical C$t at 31 Oecenther 2WJ 7.027.819 2023 2022 Ary¢d ing)me 593,899 1.855,050 11. Credittys: amounts fauina du• within on• ¥ 2023 2022 Other creditors Awuals 153 4.590 318 4,590 4,743 18
NEWCASTLE DIOCESAN SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2tr23 Tolal Re5trth1 Ful5 Endwvnt Funds.. Pearn1 Fwd5 UM•thctsd Inwm Fw Gewdl Fu 5J61235 3.679249 9.010.484 4925.199 4925,199 285.221 (1211 284,013 Tolal FurKIs 10A71,65$ 3,678,041 1{249.696 Analysis ofrtel •$5ets betswen fund5 2022 Restsictsd Income Funds: Restrict&J Funds EndowTr•nt Funds: Pemonent EThJcA•miwl FurKIs Unrestrict•d Income Fund: Gerwdl Funds 4.942.866 3.552,013 &494879 4.491.196 4491.19fj 270.596 8.174 278.770 Tolal Funds 9.704,658 1560.1SI 11264,845 At 31 D8¢wnber 20Z3 ts Scoety manapj Iryt {2022: ¥MJ tWU5t rS). fur5 were hekl to cover a variety of puSeS indLJiThJ: the keep and maintenarrE of thurch buildings; chLwth halls or churchyards: the wkeep of dwrth muc groups,. the charitatrAe PLWPOS6S of the Newcastle DreKesan Board of FinarKe INDBF}" eccsaslicaVcharttable purrM)ses: lo be used at the di5(¥eth)n of shop ol Newca. the or deswjnated dgy. and to prowde Iwwjs the NDBF to hglp lo offset the ¢ost of stipeThJs. In addition. the Sctiety is oJst(#Jran tnjstee for Int n investrnent assets wth a market valug of £2.817.180 at 31 December 2023(2022.' £2.574.921). The Scciety also hdds property on behaw of thtr NDBF and Parochial Ctr¥Jrch CoLmcils IPCCS) as utslthan bitst80. There wern 125 Fwq)81ti8s held by the Sorty at the yearend. Seven ofthe Scoetys tjiredors Wtr sw¥¥d during ts yearworg also dirgctcys ofthe Newcasue Diocew¢ Boartl of Finance INDBFI. Dwirvj 2023 the Soaety paKI out £181.016 {2022'. £42,796) to the NDBF from its various funds. somo of whith are restri¢tsd and requirnd to assist in tha payment of stiponds. and tho remalndw unreslFiCted and covef5ng certain adThMnistralion costs. Th& Sodoty acts 0$ trustee ovw tho assets rf St k¥da¥ TNst. Th• cl N•Kastse wa5 a twstae for both the So¢ty arKY Sl HikJa% Tn*L ¢harili•s othw In ryjmmon. 19