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 col￿ENTs 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 ReSpoMbil￿eS AdmKW¥trati￿ dthl$ Indewdent Auditctrs Report S&itement of Fin￿ela1 Ac11v￿e$ 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 DI￿e￿ Sowy (tho is a rgJb*èr¢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 Iru*8 in rel*K)n to * Hlda¥ TnJ4. 4 $8paratdy wlster&J chaiity. and also In The directo￿ are awwe of th8 Charity Commissrm's gLMdarth on pubbic benefft wi The A(fvancèmènt of Religion for Ih8 Public 88nefit arKJ have h•J rw to it in their ￿Min￿￿traI￿ cl the SOW. The th"￿¢10T$ believe th*. lry Prom￿1r￿j the work of th8 Chureh of E￿and 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 No￿a$ll¢ as a and in its Irvth￿hjOb pawiths. and Ihat in it F￿0¥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 sp￿riC ams and otythes for we as frAky￿. To manage the fijnds in ts se finarKial state￿￿ the directors are r&wired to: Observe the methots aryj princapa15 in ts char￿e5 SORP. Make jL*emènts aTrJ estim8les thal are reas￿¥ble and kyud Follow appliCa￿e aCC￿ntir￿j 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 b￿￿nes% The direcltys arts tesprx￿￿e for keepirvj prop¢r accountiffj r#cords wthi¢h th's¢lose V+ith reasmable xcurxy al any Ilm• th• finan¢iel p￿tion 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 CofF￿al& and trust as of cornpary and ensLwlng their a￿￿¢•ban urKler tharity L8w and for t•kiro 10asonab￿ stsps the pr8v8nlon ar*J 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 e￿h laken ￿1 n￿￿Y steps to ensu￿ that they themsdves we aware Lrf all rnhva)t audit infLffi)ation aThJ that this Inf￿fi￿ 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). s￿Iety 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 va￿ation on the land arnj buildings. As these a￿ cu*othan assels any ￿￿lUab.￿ 7ArJuld be for disd0￿ purposes (ffjly. As the NDBF aThl each PCC ts a sep*ae charity these assets ¥e sep*atety Irom thos• cl th• s￿￿ty. 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 man￿e the fur#ts. The au¢Jitor is ¢Je￿Ie￿ io bè reapwjinied undèr sèdM)n 487 121 of tho Companigs Ad 2006 untyl 01h8￿18? 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 Archdear￿n of NorthLwnbedand. ts Venerable Rar￿ A Wood Canon Simon R Harper (Chair) DrJohn C Ap￿ebY Elizabeth A Kery 18abell8 MCDOnal(￿80 Shane Wathj A￿litti￿ UNW LLP Chartered Accounlants & StatutOryA￿jilL¥ 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 Managen*nt 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 KIr0￿rn Accounting StarKt¥rds. induding FRS 102 Tr Finarrial ReportirvJ Standard appI￿at￿e Fn the UK arnl Rewbfr of Ir¢l•rwY (Unlted Generalty AcLepted A￿A)JntIThJ Practice). In Cur opinion thg finanoal $latements'. give a truo and fair vièw of the slate d the dlartsble ojrnparrfs affairn 88 * 31 De¢w)ber 2023 and of its irthmry res￿[CeS and applmation of re50uwrxs. its Ir￿Me and expwKliture for the year th ended: havo been property prepar&J inacc(Ydance wilh United G¢rwally Aettpted AC￿untIng Practice., have been p￿pared in ￿￿ance with the Tequiremenls ofthtr CcMnpanie$ 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 reSW￿sIblI1tres under those standards are des¢riW in ALKIrt￿S resp￿sIbilI1•eS for the al￿11 of the fina￿1¥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 finar￿SaI slatements in ts Uniw Kirylryn. indudirvJ t Financial Reportiro Councls Ethic* Starbjard, •rKI we have fvINl¢d oltrw ethKxl respcmsibilities in aco)rdance with reqU1￿m¢nIS. We believ6 that the aL*Jit 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 fin￿cial 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 s*Jniftanl dO￿A ￿ tho enti￿$ abilty tr* Q)ntinue as a going Our ￿p￿sibIlitieS 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￿ eortsir*d 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￿ a￿1. in d(#ng so. consi(kn V*tsther the other information is mat8rfalty In￿nsIStenI with the ffinar￿1 statements or our knthvWge rA*tained in thè ¢Axvse of the audrt or otherwi$8 appea to be materialy misstated. H we *J￿￿fy s￿￿ Mat￿31 in¢onsislthxtes or apparent material mrsstatefflents, we 8 required to det¢rnNn¥ ¥￿￿$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 IND￿ENDENT AUDmX¢S REPORT FIJR ThE YEAR ENOED 31 DECE11881 >)23 In ouropinion. ba$•d M the wot* undortaken in the ¢(xws8 ofthè the 1nfLvMalw￿ giv8n in thè dire¢kn' and InK%tees' rwl for th8 finaThia year ￿ which the financial The thr&Xor5' aThl trusiees. Terx¥t has been wepar&J in acc4xd8rr* *ryih 8ppli¢•bl& l¢gal rw4uirwnenl* Matters on whl¢h we are lo report ty excep In the light of our knO￿edge and undethrKlirvJ ofthe (knitth cornpany aFKI its envwnm¢nt ¢￿Ir￿d in th& ¢oursa oflhe aud￿. we have rnt identitsj matwol rr1ss1a￿erts in the Intstees. rep We have nothing to report in respe(a oflhe fc41th1ing matters in relation lovthK* C(wnpanies Act2006 requires us lo reFrtNI to you if. in our ownion.. ad8qU8te accAyJntin9 r8cc¥ts have rnt been retum$ 8dequot¢ fryryxathlit have r¥)t been recelved from branchès not visit￿ by us: or Ihe ffina￿al slatements are Tr)t in agreement *ith the acci¥JnlirvJ r￿d5 ￿ retums: c certain disdosures of knJstees' remur*ations 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 fina￿la1 statements in accC￿ance ￿th the small ￿n￿r￿es. ime and take advantage ￿the small cornpar•es' exempti￿$ in prwng the direcarys and trustees. ￿p￿t. Responslbllltles ol dknethrs. and In￿lee9 As explained more f￿lY 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 r*cessary to enable the proparotic of finanaal statements that are free from Mat￿la1 Miss&￿ement. whether due to fraud or error. In pre￿ring the finanrial statemmts. the dire¢tor$ are r¢spon*trAe lor 8ssessTrrpa ts ¢hwttabk u)mpany'$ ability lo tinue as a goirvj conwn. dixkwng. as apFIl￿b19. rnatte￿ rdated to goirwj c4rwn and u5iThJ the goirwj o?nrAm basis of accountiThJ unless the trustees eits inteNI to liqLidate the d￿rtable 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$S￿￿e* ab(Mrt the finarKial *t¢mgnts 4$ a whde om fro0 from mat￿la1 misstatement. whether due to fraud or error, and to issue an a dI￿S report that iThJudes our opinion. Reasonabla as$uranc* is a h•Jh of asgJrar￿. tArt is rnt a guarantee that an audit conducted in accLJrdance with ISAS {UKI wll always detect a material misstatem￿t when it exists. ￿ss￿lern￿ts ran arise from fraud or errDr and are considefed mat￿la1 rf. individually or in the aggregate. they o￿ld reasonabty be expected to Influence Ihe e¢xmmic d￿ASIonS of Ljsers tsken ￿ the basis Oft1￿ finarK4al ststements. Irregularibes. i￿JudIng fraud. afy Insta￿ of non<¢m￿l•￿ with l•v$ and rogulation$. We dssign prccadures in line wth our responsibilities, oullined above, to detect material misstaternents in respect of irregularities, irduding fraud. Th8 $poGifi¢ p￿CedureS for this ¢nga9sm¢nt and the extent to which these are capable of detecting irregulawities. I￿uding fraud is dthled belcw. We Idenlrf*d ar8as of18w and rwJuiabons that ¢>xdd r¢osc*￿bIY bo expeded to trwe a matstfjal effect on tha financial statements from our general and seclor and Ihrowjh discussions the tnJ5tees and other marwement la$ required by 8LKlititYJ slandordsl arwj of thè ttoritablo cment 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 eff￿1 as part of our prctedures on the relat￿ fina￿181 ststement items. The *Yenbfied aCtl￿ r￿MplianCe was not 5uffioenUy signiknnl to ryJr aL#lit to resuli in fLw1her disdosure wrthin tsjr iekmxl or ts fina￿la1 ststements. "ng to the inherent limitations of #n a￿11. Itwt is an unavohlable r￿k that vo may Mt have detectod somè matsri•l mi$stat$M￿lS in the financxal Stalern￿ts. 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¥ts￿lIJian tntslee (￿tr￿ over the man•werrt ofthe fijnds are not I￿luded in the finar￿la1 statements but arn disdosed in the Dirxttys, arnl Trusts¢$' Annual Report. Golng The Society h￿d$ s4rtfirient C45h res8MS to allw it to ￿ a￿0 to meet its Oblyb￿lS 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 leas￿*ble 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 I￿OMe. Legacies and donalicfts a￿ acccyJnt￿ for conditms for th￿r recwpt have been r￿t 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 rna￿et vaKE. Monies from endowment furKls are dlwated to restricbj ivK(¥ne fijnds in aCCc￿d￿n¢e wlh trust tenns. Expenditu￿ is irK4LKled the accrtwl$ ba&s and has been dasgfRd ￿ l*adiTrJs 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 be￿ficIalleS are accoun￿ experKlitwe has been incwred in respect of the variou5 fijnds. [lisbU￿ern￿ts frun trL￿1 fLN￿$ are made stricity in a￿Ordanc¥ terms of the Injst for the individual fr￿s. whe￿ the terms of a spgific bjnd requi￿ the consent of the soc￿ty, INS Is reeorded In the mirwtes ofthe meelir¥J at dlscussed. ￿$ts wr¢sffjt ey4)gndrtw8 ths of ts If￿1 funds. LYganisatiLThI administFalion. and crynplIar￿ 7Mth conslitulional ¥fKI st¥tutryy rwwirem¢nts. costs ar• th to the General Fund not the indNidual trust fuNts. List8d invéstmfjnts. which b•8n dassift•d as assat iMystm•nts. arn measured initially and sthsequenfjy at fair val￿. The statement of finarK3al athilies irnludes the net gairts aTrJ losses arising on r8valuations and dis[￿lS thrwJh(#rt the y8¥. Invostrrwts t*ld by as ¢yjstfy1￿n trL*t88 are not included in these acc<)tmts. Tax•tiQfb The activitses ofthe Society we exwnpt frryn taxallr￿ wKJer Se(*m 505 of ￿ Inco￿ and Ctyp)ralion Taxes Act 1988. D•btor4 Trade and other debtors are recctyJnised at the SetIlen￿ am¢JMrt. Prepayrnents are valued at the amount prepaid net of any tTrde dIscoL￿ due. Cash at Bank and kn haTrJ Cash at bank and in hand irKhths aThJ I￿n highly liqud MNes1m￿ts wlth a short matu of tIKee months or less from date of acqUIsti￿ ￿ openiryj ofthe deposit ￿ ￿Milar acoJunL Uabilibes ¥re rwnised when there is an obfylTh al thg balance dale as a resull of a past evwtt. it Is probable that a Iransfer of eCon0ff￿ tenefit will be requir&J in sewement. aTrJ the amount of the s•tUgmont ¢an b¥ eslimaled rdiabty. tiabilili*s ar* 1wnl￿d at th8 amwnt that the wmpany ¥nti¢ipate$ it ￿11 pay to seth the debt or the amount it h8$ r¢cwed #s 0￿r**d paymtrnts for th¢ goods tx Se￿CeS tt mLtst yowde. Provisi(Yts ar• m•#￿￿￿￿ at the best estimata ofts amounts required to selY0 tho obl*3ation. Wharo tho offact of the tim• valL* is malwial, ￿ provision is bosod (rf) pro￿1 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 r￿nISed intsrtsst payab￿ arnl $iml8r ¢horgS* Fin4ffi¢io1 Instr￿l￿ts The company only ente￿ into financrdl instnjments 1rd￿¢*onS that result in ihe recognition of basic debt financial assets aTrl liabil￿eS ffike Irwje olher xcounts recervable arKI payatk. cash arwj bank balances and loans to ty from rèlatèd part*s. AJI irthuments are due vhthin ¢)ne year and are measured. Initi￿lY and &knsequenlly at ts Ir8ns•kn At the end of eath reportKV debl fmrKy#I asséts are assessed fry impaimènt. and tr*ir ¢anying value r&Juced rfnecessary. Any Impalm￿rt (*arye is rwThs&J in the statement offinanlxal arAMbes. Estimates and judgmwts are wrtinualfy 9valuat￿ aThJ b¥sed m historicaj eypeliw 0th8r factors. indudir#J experta￿￿1$ of ftrture everrts Ihat are beI￿Ved to be reasonable uThJer the In preparing these finanual statemerts the trustees do not c(¥)sider Ihere were any Signfficant areas of I￿JgMent or esb"mates Ihatwere requirrd in applyThJ the c(Wan￿$ pOl￿S 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 T￿4 Fw¥ts Fur FuTrts 2•23 2022 D(￿atior 112,306 4.509,342 3 In¥th￿l in(xJme Reth)JgJ T￿1 Fwds Tc41 Funds 20 2022 FurKts th￿￿d$ Tewdb InleTeSt re￿walle 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* F￿d$ 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 F*A&' 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 {3￿J,982) 406.251 9.040.484 4.491.196 434,1￿3 4,925,199 1336V45 448204 13282341 864M1 14,249,&6 Ba*iE¢ at 1 l)fyoiry W b)5￿ B•lancfj *31 r•sourc•s & trwhsfers De¢ 2022 lknral Funds Reslrtcted IrKoffle Fwth. Rethtsd FuTr*5 EnthJw￿nt Funds: 325399 8J58 {17J)5) (37.482) 278.770 4211138 4.756ffl9 (135fi78) (338230) &494879 s.1(￿558 (615 J62) 4491.196 9.644095 47￿1•)7 1153.18¥ 1951.0741 13,264845 Funds Iransfefred frwi end(wment to restricled f￿dS ￿YesenI ihe unspent on end¢)wed funds availat4e for us8 by thè benefici*ies. vhwth *• hebj as cash depogts aThJ nol inVeStrr￿nI 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￿$t at 31 Oecenther 2WJ 7.027.819 2023 2022 A￿ry¢d ing)me 593,899 1.855,050 11. Credittys: amounts fauina du• within on• ¥ 2023 2022 Other creditors Awuals 153 4.590 318 4,590 4,743 18 NEWCASTLE DIOCESAN SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2tr23 Tolal Re5trth1 Ful￿5 Endwvnt Funds.. Pe￿ar￿n1 Fwd5 UM•thctsd Inwm Fw Gewdl Fu 5J61235 3.679249 9.010.484 4925.199 4925,199 285.221 (121*1 284,013 Tolal FurKIs 10A71,65$ 3,678,041 1{249.696 Analysis ofrtel •$5ets betswen fund5 2022 Restsictsd Income Funds: Restrict&J Funds EndowTr•nt Funds: Pemonent EThJcA•miwl FurKIs Unrestrict•d Income Fund*: Gerwdl Funds 4.942.866 3.552,013 &494879 4.491.196 4491.19fj 270.596 8.174 278.770 Tolal Funds 9.704,658 1560.1SI 11264,845 At 31 D8¢wnber 20Z3 ts Scoety manapj ￿ Iry￿t {2022: ¥MJ tWU5t ￿r￿S). fur￿5 were hekl to cover a variety of pu￿SeS indL*JiThJ: the ￿keep and maintenarrE of thurch buildings; chLwth halls or churchyards: the wkeep of dwrth mu*c groups,. the charitatrAe PLWPOS6S of the Newcastle DreKesan Board of FinarKe INDBF}" ecc*saslicaVcharttable purrM)ses: lo be used at the di5(¥eth)n of shop ol Newca￿￿. the or deswjnated d￿gy. and to prowde Iwwjs the NDBF to hglp lo offset the ¢ost of stipeThJs. In addition. the Sctiety is oJst(#Jran tnjstee for In￿t n investrnent assets wth a market valug of £2.817.180 at 31 December 2023(2022.' £2.574.921). The Scciety also hdds property on behaw of thtr NDBF and Parochial Ctr¥Jrch CoLmcils IPCCS) as utslthan bitst80. There wern 125 Fwq)81ti8s held by the Sor￿ty at the yearend. Seven ofthe Scoetys tjiredors Wtr￿ sw¥¥d during ts yearworg also dirgctcys ofthe* Newcasue Diocew¢ Boartl of Finance INDBFI. Dwirvj 2023 the Soaety paKI out £181.016 {2022'. £42,796) to the NDBF from its various funds. somo of whith are restri¢tsd and requirnd to assist in tha payment of stiponds. and tho remalndw unreslFiCted and covef5ng certain adThMnistralion costs. Th& Sodoty acts 0$ 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