Re8l$twed Charlty flumber. 251672 Report of the Trnstees Unaudlt•d Fln•ndal Stat•Tr for the year ended 30th June 2025 Northern Tan'S Fund Harrison Hutchinson Ltd Chartered Accountants 246 Park View Whitle Ba ne and Wear NE263
Northern Brethren's Fund Contents Report of theTrustÈes Independent Examinetrs Report Statement of Financial Activities Balance Sheet Note5 to the Flnancial Statements Detailed Ststement of Financial Advities io
Northern ethren'$ Fund eport of the Trnstees for the year ended 30th June 2025 The trustees present their report wlth the financial statements of the charity for the year ended 30th June 2025. The trustees have èdopted the provlsions of Accountlngand Reporting by Charities: Statement of Rewmmended practi applicable to charitles preparing their accounts in a¢cordaftce wlth the Financial Reporting Stsndard appIlble In the UK and Republic of Ireland IFRS 102Keffectlve l January 20191. OBJECnVES ANO AcrivmES Objertlws and aim5 The fund's purpose is the provision of rellef and supportto its members In tlmes of Infirmlty, sSckness and old S*(atal¥llles To achleve the principal obJ"ective. set out above. the trust deed authorlses the trustees to Irwest monies (not requlred for the tlme being for Its purposes) In or upon Investments. securitles or property as they shall think fft. Publk benefft As the membets of the fund ccmsist of speculate clergy incardlnate into the Die of Hexham and Newcartle. the trustees consider (having read the Charity commlsslon guidance on public benefit) that the ¢harlty Is not pThfidln8 a benefit to the general public. Sotlal Investments Despite the ehallenglng climate, driven In the remain by the continued after effects of the global pandemlc. as well as the more recent cost of living crfsis, the mafket value of the fund's Ilsted Investments as at the 30th June 2025 was £3.493.94012024- £3,411,443). ACHIEVEMENTS AND pERFORNcE Fundratslng artlvltie5 The fund contlnued to make available long term assistsnce to retired clergyto help wlth their upkeep and rna1ntenan. This assistance continued to be available on an individual basis after asse551ng the indivldual's assets. need and circumstances. Small dlscretionary grants ntInued to be avollable to cberEY sufferfng from illness. FItUNCIAL REVIEW nal1 posftlon During the yearto 30th June 2025, the Investment income. Interest recelved and profit on dlsposal of shares generated by the fund amounted to £274.40412024- £97,049) whilst benefartlons reeebved In thls year we £33,81112024- £40,963). Prntlpal fdIng Awyces As a prfndpal source of funds is dividends from Investments. Brewln Dolphln. the fund's stockbrokers, have stated that their Investment strdtegy alms to provlde a bal•n¢ed return whilst taklng on a medlum level of rlsk. All investments are made thin ethical constrdints such as avoldlng direct investment in armament companles. The trustees have establlshed a reserves pollcyi the hollng avallable balanee an amount equal to between 3 and 4 month5 operational eosts. The available balance at the balance She date was £381.55212024- £250A501. The trustees are satlsfied that they have sufficient reservlces On hand to enable the fund to fvnrtion effertively In the comin8 year. Page I
Northem Brethren's Fund Rewt of the Trustees- contlnued for the year ended 30th June 2025 STRucfLIRE, GOVERNANCE AMI WNAGEMENT Govern* do(ument The fund is governed by a historic Trust Deed (dated Clrca. 16601, the temis and rules of which were amended on 15th September 1983. The fund is a ehlrftable unlncorporèted body and is gLwerned by the rules of and In the above trust deed. Recfullment and appolntment of newtrustees When the trustees need to appoint a new tnistee to replace a twstee. it is placed on the next available trustees meetlng agenda for discusslon. The members make thelrsuggestions and the board. after a dlscussion, ae who should be approached. Sultable candidates need to be known for their pastoral sensitivity and have the health and well belng of sick and red clerg¥ at heart. Once approached and havlng accepted the invitatlon to be a hjnd trustee, tlw are wekomed at the next meetlng. The organisatlonal structure conslsts of trustees {the number of which Is noted In the accounts). volunteer clergy who attend the day-to4ay operations of the fund Iv151ting retlred clergy to estsblish needl and the investrnent management and a volunteer bo0kkeer. InthKtkn and tralnln8 of new trustees New trustees are provlded wlth sultable documentation upon tskln8 UP post to ensure a gi)od knowledge of thelr responsibilities. All members take an approprfate part in the splritual and practi(31 tssks involved in the furtheran of the charitsble objective. Rlsk management The trustees have overall responslbility for ensuring that the Chaty has an approprtate tystem of controls. fin4n¢lal and otherwlse. They are also responsible for safeguarding assets of the Chartty and hence for taklng reasonable steps for the preventlon and detectlon of fraud ond other Irregularities, and to provide reassuran that l. It's assets are safeguaed against unauthorised use or disp051tion." 2. Proper records are maintalned and financial infomwtion used wlthln the Charlty or for publicatlon Is rellable", 3. The Charity complies wlth relevant laws and regulations. The trustees have made an a$se55ment of the rnajor risks faclng the fund and are satisfied that there are policie5 In place to minimlse these risks. Some key risks have been identlfied as; l. Ageing clergy: Overthe next 10 to 15 years the level of grant payments Is experted to exceed ordinary Income and hence. the fund seeks to find altemative means to finance this long term gap. 2. Dlmlnishing investment returns- As one of the key sources of income for the fund is dividend derived from the Investment portfollo. the economlc dlmate Ilncluding the pandemlcl Is another area to address. 3. Reputsthonal damage; As another key source of income Is voluntary donatlons. the fund Is mlndful of the effect that negative publicity have on its avallablllty to fulfil its oblectfves. Page 2
Northern Brethren's Fund Report of theTrustees- contlnued for the year ended 30th June 2025 REFERE AND ADMINisfRATIVE DETAILS Re8lstered (harlty Number 254672 Prindpal address St Robert of Newminster Oldgate Morpeth Northumberland NE61 IQF Trnstees Rev. P. Stott Rev. J. Angus Rev. C. Warren Rev. P. Douthwaite IndepthKlent examlner P.S. Hutchinson Harrison Hutchlnson Ltd 246 Park Wiew Whitley Bay Tyne and Wear NE26 3QX Approved by the board of twstses on 10th Aprll 2026 and signed on its behalf bv: Rev. P. Stott Page 3
Northern Brethren's Fund INlependent Exam4ner's Reportto theTrustees of for the year ended 30thJune 2025 I repLYtto the charitws trustee$ on my examination of Northern Brethren's Fund (the TtI for the year ended 30th June 2025. Rw(K1bjlltles and basls of rep(wt As the charity trustees olthe Trust you are responsible for he prepawation of the acc(wnt in acconlance with the requirements of the Charities Act 20111'the Act). I report in respertof my examination of the Trust's accounts carried out under Section 145 of the Art and in earying out my examination I have followed all applTrcable Directions given by the Charity Commission under SectK)n 14515)(b) of the act. Independent emamlner's statement I have completed my examination. I confirm no matewial matters have come to my attention in connection with the examination e6vin8 me cause to believe that in any material respect: accounti records were not kept in respert of theTru5t as required by Section 130 of the Act: or the accounts do not accord with those records; or the accounts do not comply wlth the applicable requirements conoming the form and content of accounts set out in the Chanties (Accounts and Reports) fteguIatn 2(h38 other Ihan any requirernent that the accounts give a true and fair View whlch is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in conneCtn with the examination to whith attention should be drawn in this report In Order to eTrable a proper understanding of the aceounts to be reached. P.S. Hutchinson Haffison Hutchinson itd Chartered Accountants 246 Park View Whitley Bèv Tyne and Wear NE26 3QX Page 4
Northern ethren'$ Fund Ststement of Rnan¢ial Actmtles fw theyear ended 301h June 21r25 2025 Unrestricted Restricted funds funds Totsl fund5 Notes Total funds INCOME AND ENDOWMENTS FROM DonatI¢S and legacies 33,811 33,811 40,963 Investment income Other incorne l(X).038 174,366 100.038 174.366 91.289 5,760 Total 308.215 308.215 138,012 EXPENDITURE ON Raising funds Donations 14,162 1.500 14.162 1,500 22.012 NetEainl{loss) on investments {70,965) 170,9651 318,955 NE[ INCOME 221.588 221.588 434,955 RECONaLIATION OF FUNDS Totsl funds brought forward 3.652,754 3.652.754 3,217,799 TOTAL FUND CARRIED FORWARD 3,874,342 3,874,342 3.652,754 The notes fomi part of these financial statements Page5
Northern Brethren'$ Fund forthe ytrar ended 30th June 1015 2025 2024 Not•5 FIXED ASSErs In¥eslm•rtts 3.493. 3,41L443 Cath at bank 381552 250,4SO (NEDrroRS Amountsfalllrg duè withln a year (9.1391 380.402 241,311 TOTAL ASSET5 LEssaiRREvf UAWLMES 3,874.342 3,652,754 3.652,754 3,874,342 FUNDS Unrestrfcted funds Restrlcted funds 374,342 3.652,754 Tota5 Fund5 3,874,342 3.6S2.754 The financial stst•ments were approved by the Board of Trustees and authorisod for ISS on 10th Aprll 2026 and signed on It's behalf by: Rev. P. Stott Th• notssfomi part of thes• finarKial st•M?nts Page 6
Northern Brethren's Fund Notes to the Finandal Ststements for the yvar ended 31)th June 21Y25 ACCOUKnNG POUOES Basls of preparlng the flnonclal ststements The finandal statements of the charity. which Is a public benefit entity under FRS 102. have been prepared in accordance with the Charities SORP (FR$ 1021 'Atcounting and reporting by Charities: Statement of Recommended prarti appllcable to charities preparing their accounts in accordance with the Financial Reporting Standard appllcable in the UK and Republic of Ireland IFRS 102) (effective l January 20191., Financial Reporting Stsndard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The flnanclal ststements have been prepared under the hlstoric cost convention, with the exceptlon of investments v•thich are included at market value, as modified by the revaluation of certain assets. Income All income is recognised In the Statement of Financial Activitie5 Once the charity has entitlement to the funds, It is probable that the income will be received and the amount can be reliably measured. Expendlture Liabilities are recognised as expendlture as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted on an accruals basis and has been classlfied under headings that aggregate all c05t related to the cate80ry. Where costs cannot be dirertly ?ttributed to particular headlngs they have been allocated to activities on a bas15 consistent wth the use of resources. Taxallon The charity Is exempt from tax on ts charitsble artivitles. Fund accountlng Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the tnistees. Restricted fund5 can only be used for particular restricted purposes within the objectives of the charity. Restrictions arise when spe(ified by the donor orwhen funds are raised for particular restricted purpose5. Further explanation of the nature and puwpose of each fund is included in the notes to the financial ststements. Page 7
N(theffl Brethren's Fund Notes to the Flnancial Ststanents- contlnued for the year ended 30th June 2025 INVESTMEN[ INCOME 2025 2024 Interest Dividends 3.958 96,080 l(M),038 2.214 89,075 91,289 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or otheT benefits for the year ended 30th June 2025 nor for the year ended 30th June 2024. Trustees, expenses There were no trustees, expenses paid for theyear ended 30th June 2025 nor for the year ended 30th June 2024. FIXED A55Ef INVEStMEpirs 1Ssted Investments MARKEf VALUE As at 1st July 2024 Addition5 Disposals Rthluations 3.411,H3 442,192 1288,7301 170,965) 3,493,940 At30thJune 2025 NEf BOOK VAWE At 30th June 2025 3,493,940 At 30th June 2024 3,411,443 There were no investment assets outside of the UK. The valuation of the listed investments are shown as current market value in the accounts. Historic c05t of the listed investments is as follows: 2025 2024 Histork cost 2,656,059 2,502,773 Page 8
Northern Brethren's Fund Notes to the Flnandal Ststements- contlnued theyear ended 30th June 2025 (lEDOR$. AMOUlItS FALLING DUE WITHIN ONE YEAR 2025 2024 Accruals and deferred Income 1.150 9.321 MOVEMENT IN FUNOS At tstjuly 2024 movement In funds At 30th June 2025 Unre5tr1Lted funds General fund 3,652,754 221,588 3.874.342 TOTAL FUNDS 3,652,754 221,588 3A74J42 Net movernent in funds. induded In the above are as follows: Incomlng Resources expended Galns and Movement In funds Unrestricted funds General fund 308.215 308,215 115,6621 (15,662) 170.965) 170.965) 221,588 221,588 TOTAL FUNDS Comparative Move hb ndS Net movement In funds At 1st July 2023 At 30th June 2024 ljwestrfcted fun¢ts General fund 3,217,799 3,217,799 434.955 434.955 3,652,754 3,652,754 TOTAL FUNDS Comparatlve movement In fund$ for the year ended 30th June 2024 Incomlng Resource5 resources empended Galns and losses Movement In fund5 Unrestrlcted fvnds General fund 138,012 138,012 12Z,0121 122,012) 318,955 318,955 434,955 434,9S5 TOTAL FUNDS Page 9
Northern Brethien's Fund- Sknall Funds Detssied Statement of Hnanclal Acfjvllles for the year ended 30th June 2025 2025 2024 IPKOME AND ENDOWMENTS DThwtlons and legades 33,811 Investsnent Incfjme Dividends and interest 100,038 91,289 Cxher Incorne Gain on sale of tsngible fixed assets 174,366 5,760 Total incoming resources 308,215 138,012 Donailons 1,51XI 5undries Accountsncy and odvice fees 523 21,489 22.012 22,012 116,( 13.853 14,162 15.662 292,553 Total resources expended Nrf INCOME Page 10
CHARITY COMMISSION FOR ENGLAND AND WALES Trustees, Annual Report for the period From 0110712024 Period stsrt dateTo 3010612025 Period end date Charity name: Northern Brethren's FurKI Charity registration number." 254672 Objectives and Activities SORP referencè Pw81.17 Summary of the purposes of the chaiity as set out in ils ovemin document Summary of the main activities in latiOn to those purposes for the publ benefrt, in particular, the activities, projects or services identified in the accounts. Stalement confirming vthether the trustees have had regard to the guidance issued by the Ch8rtty Commission on public benefrt Pg1 Para 1.17 •Th1 1.19 Pg1 Pato 1.18 Pg1 Addltlonal infomiatlon (optional) You ma choose to indude further statements where relevant about.. SORP reference Pdicy grant making Para 1.38 Policy on scKial investrnent induding program related investrnent Para 1.38 Contribution made by vc4unteers Par8 128 Other
Achievements and Perforniance SORP refeien¢e Pg1 Summary of the main hievements of the charity. identfying Ihe difference the chaiitls work has rne to the circumstances of its beneficiaries and any widei beneffts to Society as a whole. Para 1.20 Additlonal inforniation (optional) You ma choose to include further statements where relevant about.. Achievements against Para 1.41 Perforrnan of fundraising activities against objecttves Par8 1.41 Investment performance against objedives Para 1.41
Financial Review Review of the ch*ity's financial FK)sTtion at the end of the nod Slatement explaining the FXIIY for holding resere$ statin are held Amount of reserves heid Reasons for hohJin9 zero reserves Details of fund materially in dthit Explanation of any uncertairrties about the chaiity conlinuing as a gixng ci)ncem Par8 1.21 Pg1 Para 122 Pg1 Para 122 Pai0 1.22 NIA P¥[¥ 1.24 NIA Para 1.23 NIA Additional Inforniation (optional) You ma choose to include further statements where relevant about: Th8 tharitys prinapal sources of funds (including any fundraising) Ptra 1.47 Investrnent policy and objectives induding any social investment policy adopted Para 1.46 A description of the princ4pal r¢sk8 facing the chaiity P¥a1A6 Other
Structure. Governance and Management Description of charity's Type of goveming document How is the thaTity ¢onstttuted? Para 125 Pg2 Para I Pg2 Tnjstee selection methods indud1r details of any constitutional provisions e.g. election to wst or name of any person or body entitled to aF¥)oint one or more *ruste6$ Par8 125 Pg2 Addttional Infomiaoon (optionall You ma choose to include further statements where relevant atrM)ut: pleS and procedures optsd for the induction and training of trustees Para 1.51 The charitys organisational stnjcture and any wider nelwork th which the arily works Pwa 1.51 Relationship wtth any thted Para 1.51 Reference and Administrative details Chatil name Other name the Charit Northem Bretkton'¢J Fund uses Re istered chari number Chariils principal address 254672 St. Robert of Newminster Old Gate Morpeth Northumbetland NE61 IQF
Names of the charity trusteos who manage the charity Trustee name omc? lil any) Datès aetèd if nol for Who year Name of PW5frt7 (or boty) entitlèd to int tfust¢e Rev. P. Stott Rev. J. Angus Rev C. Warren Rev. P. Douthwaite ifan 10 12 13 14 15 16 17 18 19 Cof orate trustees- names of the directors at the date the re txrector name rtwasa roved Name of trustees hoiding title to property belonging to the charity name Dat•s athd if not for whole
Funds held as custodian trustses on behalf of others Description of the assets held in this capacity Name and objects of Ihe tharity on whose behalf the assets are hebJ and how this falls %•ithin the custodian charity's objects Details of arrangements for safe custC#Jy and segregation of such assets fr(m the charitS own assets Addltlonal Inf0mtIon {01)Ilonal) Names and addresses of advlsern (OptK*nal Infomiatlon) of advlser Name Addresg Nan of chtef executlvo or names of senlor staff rnembgrs (Optlonal infornmtion) Exemptions from disclosure Reason for non-disclosure of ke rsonnel detatls Other o tional infonnation
Declarations The ITUSteos declare that they have approvod the trust•es' rnport above. Slgngd on half of tho charlty's trustses SIgnare(s) F:ull name(s) Poslllon (eg S•cYetary, Chalr, Reverend Peter Stott Trustee 10104126