**REGISTERED CHARITY NUMBER: 272895** ## **REPORT OF THE TRUSTEES AND** **AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2021** ## **FOR** **THE CATHERINE COOKSON CHARITABLE TRUST** **THE CATHERINE COOKSON CHARITABLE TRUST** **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2021** **----- Start of picture text -----**
Page
Report of the Trustees 1 to 4
Report of the Independent Auditors 5 to 7
Statement of Financial Activities 8
Balance Sheet 9
Cash Flow Statement 10
Notes to the Financial Statements 11 to 22
Detailed Statement of Financial Activities 23
**----- End of picture text -----**
**THE CATHERINE COOKSON CHARITABLE TRUST** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5TH APRIL 2021** The trustees present their report with the financial statements of the charity for the year ended 5th April 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The aim of The Catherine Cookson Charitable Trust is to apply the income and capital to such Charities or other charitable causes at the discretion of the Trustees, cognisant of any wishes expressed by the Settlor during her lifetime. The Trustees confirm that they have considered the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities and setting the grant making policy for the year. The Trust carries out these objectives by offering financial support to suitable organisations. ## **Public benefit** The Trustees confirm that they have considered the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities and setting the grant making policy for the year. ## **Grantmaking** Grants are awarded by the Trust cognisant of the wishes of the settlor expressed during her lifetime. All applications for grants are considered at full Trustees' meetings and confirmed or ratified thereat. Grants for smaller amounts and those particularly relevant to the North East of England, however are considered by the Trustees residing in that area. ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities** The Trust made grants to 185 different organisations during the year with individual awards ranging from £100 to £120,000. These grants were made to a very diverse group of organisations throughout the country and helped them to fund their activities either on a capital or revenue basis. Despite the reduction to investment income due to the Covid 19 pandemic, the trustees still agreed to make grants which exceeded the income of the trust in order to continue to show its support to organisations through the pandemic. A full list of the grants can be found in note 6 to the accounts. ## **Investment performance** The Trust holds a wide range of investments which are managed by two different stockbrokers who hold roughly 50% of the investments each. During the year the value of the investments increased by approximately 10%. This reversed the reduction at 5 April 2020 which was caused by the Covid 19 pandemic and associated stock market crash. The investments achieved an average income of 2.9% during the year. ## **FINANCIAL REVIEW** ## **Results for the Year** The Statement of Financial Activities shows a surplus of £6,336,276 (deficit £4,526,069 - 2020). This is after adding the net gains on the investment assets. When comparing income to expenditure the Trust made a deficit of £272,409 as it again distributed more in grants than its income. The Trustees are fully aware of the volatility of the stock market but these risks are partly mitigated by the management of the stockbrokers and should the investments fall the Trustees will reduce the volume of grants accordingly. At the end of the year the balance sheet shows total unrestricted funds of £34,426,001 (2020 - £28,089,725). The chief sources of income for the year were from royalties received, dividends and interest received on bank deposit accounts and government treasury stock. Page 1 **THE CATHERINE COOKSON CHARITABLE TRUST** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5TH APRIL 2021** ## **FINANCIAL REVIEW** ## **Investment policy and objectives** J M Finn & Co and Investec have been appointed by the Trustees to manage the investments of the Charity. The fund manager reports to the Trustees on a regular basis as well as meeting with the Trustees regularly. The Trustees consider the choice of suggested investment additions where necessary and are sensitive to any ethical concerns. The investment objectives are to provide the Trust with sufficient income to make grants to organisations. ## **Reserves policy** The Trustees plan to build up reserves as it is anticipated that future royalty income will decline over a period of time. The general intentions of the Trustees are to pay out the majority of the income on an annual basis. All reserves are unrestricted and at the year end amounted to £34,426,001. ## **FUTURE PLANS** ## Future Developments The Trustees will seek to maximise the royalty income and continue to invest the funds appropriately so that they can provide grants to further the objects of the Charity. It is hoped the investment income level will return to those pre-pandemic in the near future. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. The governing document is a Trust Deed dated 10th January 1977. ## **Recruitment and appointment of new trustees** The Trustees seek to ensure that the needs of the Charity are appropriately reflected through the diversity of the trustee body. When recruiting new Trustees, the Trustees look at what skills, knowledge and experience are needed to ensure that the Charity is well governed and run effectively and efficiently. An assessment of the skills of the current Trustees is made to identify any gaps to be filled. New Trustees are generally recruited by personal recommendations, and are made aware of the practical work of the Charity, mainly by discussions with the existing Trustees and by being given copies of key documents, including copies of the Trust Deed, minutes of Trustee's meetings and copies of past accounts. All Trustees are made aware of their responsibilities as Trustees and the requirements thereof. ## **Organisational structure** Proceedings of the Trustees are governed by the Trust Deed and the Charity is organised so that the Trustees meet regularly to manage its affairs. ## **Risk management** The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.The Trustees actively review, on a regular basis, the major risks which the charity faces and believe that maintaining the free reserves at current levels, combined with the annual audit will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the risks. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 272895 Page 2 **THE CATHERINE COOKSON CHARITABLE TRUST** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5TH APRIL 2021** ## **Principal address** Messrs Thomas Magnay & Co 8 St Mary's Green Whickham Newcastle-upon-Tyne NE16 4DN ## **Trustees** H F Marshall (resigned 23/3/2021) P Magnay D S S Hawkins D E Sallows P H L Mallen (appointed 23/3/2021) ## **Auditors** Price & Company Chartered Accountants and Statutory Auditor 30/32 Gildredge Road Eastbourne East Sussex BN21 4SH ## **Solicitors** Thomas Magnay & Co. LLP 8 St Mary's Green Wickham Newcastle-upon-Tyne NE16 4DN ## **Bankers and Stockbrokers** HSBC 94 Terminus Road Eastbourne East Sussex BN21 3ND Investec 30 Gresham Street London EC2V 7QN JM Finn & Co 4 Coleman Street London EC2R 5TA Page 3 **THE CATHERINE COOKSON CHARITABLE TRUST** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5TH APRIL 2021** ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** The Trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charity SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ## **Disclosure of Information to Auditors** So far as the Trustees are aware, there is no relevant audit information of which the Charity's auditors are unaware, and each Trustee has taken all the steps that he ought to have taken as a Trustee in order to make himself aware of any relevant audit information and to establish that the Charity's auditors are aware of that information. Approved by order of the board of trustees on 23rd November 2021 and signed on its behalf by: D S S Hawkins - Trustee Page 4 **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE CATHERINE COOKSON CHARITABLE TRUST** ## **Opinion** We have audited the financial statements of The Catherine Cookson Charitable Trust (the 'charity') for the year ended 5th April 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the charity's affairs as at 5th April 2021 and of its incoming resources and application of resources, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Charities Act 2011. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Matters on which we are required to report by exception** We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: - the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or - sufficient accounting records have not been kept; or - the financial statements are not in agreement with the accounting records and returns; or - we have not received all the information and explanations we require for our audit. Page 5 **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE CATHERINE COOKSON CHARITABLE TRUST** ## **Responsibilities of trustees** As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. ## **Our responsibilities for the audit of the financial statements** We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: - Discussions with management which included consideration of known or suspected instances of non-compliance with laws and regulations and fraud. - Reviewing, evaluating and testing systems and controls to assess their effectiveness to prevent and detect irregularities. - Identifying, reviewing and testing of journal entries. - Challenging assumptions and judgements made by management in respect of significant accounting estimates. - Reviewing minutes of Board Meetings for known or suspected instances of non-compliance with laws and regulations and fraud. There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from that events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one due to error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. ## **Other Matter** Your attention is drawn to the fact that the charity has prepared accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. This has been done in order for the accounts to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. Page 6 **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE CATHERINE COOKSON CHARITABLE TRUST** ## **Use of our report** This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. Price & Company Chartered Accountants and Statutory Auditor 30/32 Gildredge Road Eastbourne East Sussex BN21 4SH 6th December 2021 Page 7 **THE CATHERINE COOKSON CHARITABLE TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5TH APRIL 2021** |Notes
**INCOME AND ENDOWMENTS FROM**
Other trading activities
2
Investment income
3|**2021**
2020
**Unrestricted**
Total
**fund**
funds
as restated
**£**
_£_
**120,361**
132,968
**884,001**
1,072,329| |---|---| |**Total**
**EXPENDITURE ON**
Raising funds
4
**Charitable activities**
5
Grant related support costs
Grants payable in furtherance of the
Charity's objects|**1,004,362**
1,205,297
**178,540**
161,071
**64,981**
65,016
**1,033,250**
1,320,600| |**Total**
Net gains/(losses) on investments|**1,276,771**
1,546,687
**6,608,685**
(4,184,679)| |**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**|**6,336,276**
(4,526,069)
**28,089,725**
32,615,794| |**TOTAL FUNDS CARRIED FORWARD**|**34,426,001**
28,089,725| The notes form part of these financial statements Page 8 **THE CATHERINE COOKSON CHARITABLE TRUST** ## **BALANCE SHEET 5TH APRIL 2021** |Notes
**FIXED ASSETS**
Investments
11
**CURRENT ASSETS**
Debtors
12
Cash at bank|**2021**
_2020_
**Unrestricted**
_Total_
**fund**
_funds_
_as restated_
**£**
_£_
**34,202,815**
_26,777,562_
**38,725**
_44,579_
**219,191**
_1,284,083_| |---|---| |**CREDITORS**
Amounts falling due within one year
13|**257,916**
_1,328,662_
**(34,730)**
_(16,499)_| |**NET CURRENT ASSETS**|**223,186**
_1,312,163_| |**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**|**34,426,001**
_28,089,725_| |**NET ASSETS**|**34,426,001**
_28,089,725_| |**FUNDS**
14
Unrestricted funds|**34,426,001**
28,089,725| |**TOTAL FUNDS**|**34,426,001**
28,089,725| The financial statements were approved by the Board of Trustees and authorised for issue on 23rd November 2021 and were signed on its behalf by: D S S Hawkins - Trustee D E Sallows - Trustee The notes form part of these financial statements Page 9 **THE CATHERINE COOKSON CHARITABLE TRUST** ## **CASH FLOW STATEMENT FOR THE YEAR ENDED 5TH APRIL 2021** |Notes
**Cash flows from operating activities**
Cash generated from operations
16
Tax paid
Net cash used in operating activities
**Cash flows from investing activities**
Purchase of fixed asset investments
Sale of fixed asset investments
Interest received
Net cash provided by investing activities
**Change in cash and cash**
**equivalents in the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the**
**end of the reporting period**|**2021**
**£**
**(1,139,705)**
**596**
**(1,139,109)**
**(6,384,435)**
**5,567,867**
**890,785**
**74,217**
**(1,064,892)**
**1,284,083**
**219,191**|_2020_
_as_
_restated_
_£_
_(1,429,982)_
_2,476_
_(1,427,506)_
_(1,859,142)_
_2,914,084_
_1,087,579_
_2,142,521_
_715,015_
_569,068_
_1,284,083_| |---|---|---| The notes form part of these financial statements Page 10 **THE CATHERINE COOKSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2021** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. The accounts have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The accounts are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these accounts are rounded to the nearest £. ## **Going Concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure 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 for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. ## **Fixed asset investments** Investments are initially recognised at their transaction value and subsequently measured at their market value as at the balance sheet date using the closing quoted market price. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year. ## **Cash at bank and with stockbrokers** Cash at bank and with stockbrokers includes cash and short term highly liquid investments with a short maturity of three months or less from the opening of the deposit. ## **Debtors** Debtors are recognised at their recoverable amounts to which the trust is entitled. continued... Page 11 **THE CATHERINE COOKSON CHARITABLE TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2021** ## **1. ACCOUNTING POLICIES - continued** ## **Debtors** ## **Creditors** Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement value. ## **2. OTHER TRADING ACTIVITIES** |Royalties received
**3.**
**INVESTMENT INCOME**
Income from cash investments
Income from listed investments
**4.**
**RAISING FUNDS**
**Other trading activities**
Commission
**Investment management costs**
Investment management
Aggregate amounts||**2021**
**£**
**120,361**
**2021**
**£**
**34**
**883,967**
**884,001**
**2021**
**£**
**49,320**
**2021**
**£**
**129,220**
**178,540**|_2020_
_as_
_restated_
_£_
_132,968_
_2020_
_as_
_restated_
_£_
_311_
_1,072,018_
_1,072,329_
_2020_
_as_
_restated_
_£_
_42,775_
_2020_
_as_
_restated_
_£_
_118,296_
_161,071_| |---|---|---|---| continued... Page 12 **THE CATHERINE COOKSON CHARITABLE TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2021** **----- Start of picture text -----**
5. CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities Support
Direct (see note costs (see
Costs 6) note 7) Totals
£ £ £ £
-
Grant related support costs 55,152 9,829 64,981
Grants payable in furtherance of
- -
the Charity's objects 1,033,250 1,033,250
55,152 1,033,250 9,829 1,098,231
6. GRANTS PAYABLE
2021 2020
as
restated
£ £
Grants payable in furtherance of the Charity's objects 1,033,250 1,320,600
The total grants paid to institutions during the year was as
follows:
2021 2020
as
restated
£ £
Education and Training 222,650 354,500
Medical, Health and Sickness 171,200 299,050
Children and Young People 56,300 26,900
Religious Activities 128,050 69,600
Animal Welfare 3,850 5,000
Disability 200,200 99,600
Arts and Culture 145,150 296,150
Other Charities/Voluntary Bodies 105,850 169,800
1,033,250 1,320,600
**----- End of picture text -----**
continued... Page 13 **THE CATHERINE COOKSON CHARITABLE TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2021** ## **6. GRANTS PAYABLE - continued** |**Education and Training**
Action Station South Tyneside
Building Futures East
Blyth Resource & Initiative Centre
Brandon Primary School PTA
Collingwood Foundation
Durham School Bursary Fund
Egglescliffe School
Friends of Hexam Priory School (chq w/b in 2019/20 now presented)
Friends of High Spen Primary School
Friends of St Michael R C School
Friends of St Therese PTA
Harton Primary School
Haskel School
Hexham First School
House of Mercy Middlesbrough
If U Care Share Foundation
Newcastle College
Newcastle High School for Girls
Northumberland CVA
Park View Project
Patchwork Project
Pele Trust
St Bede's RCVA Primary School
St Joseph's R C Primary School
The Duchess's High School Trust
The Wheels Project
University of Sunderland, Faculty of Health, Sciences and Wellbeing
Wingate Community Nursery School|**1,000**
**1,000**
**500**
**100**
**100**
**25,000**
**500**
**1,000**
**500**
**5,000**
**200**
**50,000**
**500**
**1,150**
**1,500**
**1,000**
**100**
**120,000**
**500**
**400**
**300**
**500**
**300**
**250**
**250**
**500**
**10,000**
**500**| |---|---| |**Medical, Health and Sickness**
4Louis
Action for Sick Children
Action Medical Research
Baby Lifeline Limited
Beep Fund
Cardiac Risk in the Young
Children's Air Ambulance
Debra
Diabetes UK (from 2019/20 cheque not presented)
DKMS (from 2019/20 cheque not presented)
Fletcher's Fund
Great North Air Ambulance
Great North Children's Hospital Foundation
Hospice Care North Northumberland
JDRF
Jo's Cervical Cancer Trust
Kidney Research UK
Leo's Neonatal
Lifelites at St Oswalds
Macular Society
Newcastle Hospitals NHS Foundation Trust
St Benedict's Hospice
St Mark's Hospital Foundation|**222,650**
**300**
**500**
**5,000**
**500**
**3,000**
**500**
**1,000**
**500**
**(1,000)**
**(500)**
**250**
**5,000**
**250**
**2,000**
**500**
**250**
**50,000**
**500**
**2,000**
**400**
**500**
**250**
**5,000**| continued... Page 14 **THE CATHERINE COOKSON CHARITABLE TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2021** **6. GRANTS PAYABLE - continued** |St Wilfrid's Hospice Eastbourne
The Children's Heart Unit Fund
The Royal Marsen Cancer Charity
Tom's Trust
Walking with the Wounded
World Cancer Research Fund
**Children and Young People**
1st Hartlepool Boys Brigade
1st Howden-le-Wear Scout Group
2nd Cramlington Scout Group
4th Hartlepool Boys Brigade
9th Darlington Scouts
12th Darlington Scouts
18th Islington Scouts
27th Darlington Scout Group
65th Sutherland Scout Group
93rd Walkergate Scout Group
2344 (Longbenton) Squadron Air Cadets
2522 Squadron RAF Air Cadets (from 2019/20 unpresented)
Alnwick Youth Hostel Ltd
Berwick Upon Tweed Kids Lego Club (from 2019/20 unpresented)
Castletown Scout Group
Children's Safety Education Foundation
Durham Association Boys & Girls Clubs
Durham County Scout Council
Girl Guilding South Shields
Holy Trinity Youth and Community Centre
Keyfund Federation Limited
Newcastle Scout Gang Show
Ocean Youth Trust North
Read for Good
Surf Yonder Academy CIC
Tall Ships Youth Trust
Teeside Cloth Nappy Library
The Children's Foundation
Trinity Youth & Children' Project
Wallsend Boys Club
Wallsend Sea Cadets
Wansbeck District Explorer Scout Unit
YHA (England & Wales)
**Religious Activities**
Apostleship of the Sea
St Cuthbert's Three Church Trail
Christ Church Parish Centre
Church Army
Church of the Venerable Bede
Kings Church Darlington
Newcastle Cathedral Trust
Regent Christian Fellowship
St Aiden's Church Brunton Park
St Andrew's Church, Corbridge
St Columba's United Reform Church|**2,500**
**35,000**
**35,000**
**1,000**
**20,000**
**1,000**
**171,200**
**400**
**400**
**500**
**500**
**500**
**500**
**1,000**
**500**
**500**
**1.000**
**500**
**(500)**
**2,000**
**(250)**
**5,000**
**500**
**500**
**3,000**
**500**
**2,000**
**250**
**3,500**
**2,500**
**1,000**
**500**
**1,000**
**500**
**1,000**
**250**
**25,000**
**500**
**250**
**1,000**
**56,300**
**250**
**1,000**
**2,000**
**1,300**
**500**
**500**
**50,000**
**1,000**
**1,000**
**1,000**
**1,000**| |---|---| continued... Page 15 **THE CATHERINE COOKSON CHARITABLE TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2021** ## **6. GRANTS PAYABLE - continued** |St George's Church, Jesmond
St Hilda's Church, Bilsdale
St James' & St Basil's Church
St John's Church Shotley
St Leonards Church Organ Fund
St Mary's Church, Hexham
St Olave's Church, Marygate
Wylam St Oswin's Church
**Animal Welfare**
Dog & Cat Shelter
Durham Wildlife Trust
Harper Aspery Wildlife Rescue
Northumbrian Hedgehog Rescue Trust
Stephney Bank Stables
**Disability**
Beyond Limits
Clart About Sensory Cafe
East Sussex Hearing Resource Centre
Haworth RDA Group
Hearing Dogs for Deaf People
JPK Project
Listening Books
Real Care Ltd T/A Learning for Life
Main - Taking Autism Personally
Meru
North Tyneside Disability Forum
Skills for People
Support Dogs
Step to the Occasion
Teeside Ability Support Group
The Chaseley Trust
The Kayaks
The Lake District Calvert Trust
The Percy Hedley Foundation
Useful Vision
Whizz-Kidz
Yatton House Society
**Arts and Culture**
Arts Culture and Heritage Adventures CIC
Balletlorent
Bolderson Percussion Foundation
Brash Theatre Company
Corbridge Chamber Music Festival
Daisy Arts
Dingy Butterflies
English Touring Opera
Hartlepool Stage Society
Heaton Festival|**25,000**
**2,500**
**1,500**
**4,000**
**10,000**
**500**
**5,000**
**20,000**
**128,050**
**1,500**
**1,000**
**250**
**100**
**1,000**
**3,850**
**500**
**750**
**400**
**250**
**500**
**25,000**
**500**
**20,000**
**10,000**
**1,500**
**300**
**2,500**
**1,000**
**500**
**500**
**12,000**
**500**
**100,000**
**20,000**
**500**
**2,000**
**1,000**
**200,200**
**500**
**500**
**400**
**500**
**500**
**500**
**500**
**500**
**2,500**
**1,000**| |---|---| continued... Page 16 **THE CATHERINE COOKSON CHARITABLE TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2021** ## **6. GRANTS PAYABLE - continued** |Northern Chords Festival
Northern Citrines Marching Band
The People's Theatre
Royalty Theatre, Sunderland
Sampling Institute for Young Artists
Spennymoor Town Band
The North East Circus Development Trust
The Sunderland Music, Arts and Culture Trust
Tyneside Cinema
Unfolding Theatre
Westoe Brass Band
**Other Charities/Voluntary Bodies**
700 Club
Acomb Village Hall Charity
Addictions North East
Ashington Veterans & Elders Institute
Barnesbury Cycling Club
Carrshield Village Hall
Charles Young Centre
Cleveland Housing Advice Centre
Crest (chq w/b 2019/20 now presented)
Dipton War Memorial Group
EDT
Emmaus North East
Friend of Whitburn Library
Lake District Foundation
Lifeline Community Action
Longhirst Community Action
Matfen Village Hall
Moving on Durham
Newbrough Town Hall
Northumberland Community Enterprise
The English Place - Name Society
Pallion Action Group
RAF Benevolent Fund
Samaritans of Tyneside
Shelter
Slaley Commemoration Hall
Street Angels South Tyneside
Sunderland Women's Centre
The Five Lamps Organisation
The Hindmarsh Hall
The Recruitment Junction
Veterans in Crisis
West End Women & Girls Centre
**Total Grants Payable**|**400**
**250**
**3,000**
**50,000**
**30,000**
**1,000**
**1,000**
**25,000**
**25,000**
**100**
**2,000**
**145,150**
**3,000**
**20,000**
**500**
**500**
**500**
**2,000**
**500**
**1,000**
**100**
**250**
**500**
**500**
**500**
**750**
**500**
**250**
**1,000**
**1,000**
**2,000**
**300**
**200**
**250**
**250**
**1,000**
**1,000**
**5,000**
**500**
**500**
**1,000**
**20,000**
**500**
**30,000**
**10,000**
**105,850**
**1,033,250**| |---|---| ||| continued... Page 17 **THE CATHERINE COOKSON CHARITABLE TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2021** |**7.**
**SUPPORT COSTS**
Grant related support costs|Finance
£
**316**|Governance
costs
Totals
£
£
**9,513**
**9,829**| |---|---|---| |Support costs, included in the above, are as follows:
**Finance**
Bank charges||**2021**
_2020_
_as_
_restated_
Grant
related
support
Total
costs
activities
**£**
_£_
**316**
**_331_**| |**Governance costs**
Audit fees
Accountancy and bookkeeping||**2021**
_2020_
_as_
_restated_
Grant
related
support
Total
costs
activities
**£**
_£_
**1,560**
**_1,500_**
**7,953**
**_9,247_**| |||**9,513**
**_10,747_**| ## **8. TRUSTEES' REMUNERATION AND BENEFITS** D.S.S. Hawkins and D.E. Sallows are partners in Gibbons Mannington & Phipps LLP who provide accountancy and bookkeeping services to the Trust. Fees due to the firm during the year to 5th April 2021 were £34,280 (2020 - £31,955). The amount outstanding at 5 April 2021 was £13,365. P. Magnay is a partner in Thomas Magnay and Co. LLP who provide legal and secretarial services to the Trust. Fees due to the firm during the year to 5th April 2021 were £27,225 (2020 - £28,790). The amount outstanding at 5 April 2021 was £5,500. ## **Trustees' expenses** P. Magnay is a partner in Thomas Magnay and Co. LLP who provide legal and secretarial services to the Trust. There were no expenses reimbursed for meeting expenses during the year (£394 was reimbursed in the previous year). continued... Page 18 **THE CATHERINE COOKSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2021** ## **9. STAFF COSTS** There were no staff costs for the year ended 5th April 2021 nor for the year ended 5th April 2020. ## **10. PRIOR YEAR ADJUSTMENT** Royalty income had been shown net of commissions paid for a number of years. As the Charity SORP states that there should be no netting off of income and expenditure the gross figures are shown for the year ended 5 April 2021. The comparatives have therefore been adjusted to show the gross figures for the year ended 5 April 2020. This adjustment does not affect the results for the year or the balance sheet figures. ## **11. FIXED ASSET INVESTMENTS** |**FIXED ASSET INVESTMENTS**||| |---|---|---| |**MARKET VALUE**
At 6th April 2020
Additions
Disposals
Revaluations
At 5th April 2021
**NET BOOK VALUE**
At 5th April 2021
At 5th April 2020
Investment assets are represented by:|Listed
investments
£
**26,777,562**
**6,384,435**
**(5,091,941)**
**6,132,759**
**34,202,815**
**34,202,815**
_26,777,562_|| |
UK bonds, fixed interest, preference shares and government
stocks
UK equities and property
Money market instruments
Overseas fixed interest
Overseas equities
Alternative assets|**2021**
**£**
**3,874,506**
**14,045,320**
**0**
**292,683**
**12,231,068**
**3,759,238**
**34,202,815**|2020
£
4,386,627
11,632,974
150,000
0
7,560,703
3,047,258
26,777,562| |||| |||| ||**2021**|2020| |Historical cost of investments|**£**
**24,392,087**|£
23,385,702| |||| |||| |||| |||| continued... Page 19 **THE CATHERINE COOKSON CHARITABLE TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2021** **----- Start of picture text -----**
12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
as
restated
£ £
Interest accrued 37,012 43,796
Tax - 596
VAT 1,713 187
38,725 44,579
13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
as
restated
£ £
Other creditors 34,730 16,499
14. MOVEMENT IN FUNDS
Net
movement At
At 6/4/20 in funds 5/4/21
£ £ £
Unrestricted funds
General fund 28,089,725 6,336,276 34,426,001
TOTAL FUNDS 28,089,725 6,336,276 34,426,001
Net movement in funds, included in the above are as follows:
Incoming Resources Gains and Movement
resources expended losses in funds
£ £ £ £
Unrestricted funds
General fund 1,004,362 (1,276,771) 6,608,685 6,336,276
TOTAL FUNDS 1,004,362 (1,276,771) 6,608,685 6,336,276
Comparatives for movement in funds
Net
movement At
At 6/4/19 in funds 5/4/20
£ £ £
Unrestricted funds
General fund 32,615,794 (4,526,069) 28,089,725
TOTAL FUNDS 32,615,794 (4,526,069) 28,089,725
**----- End of picture text -----**
continued... Page 20 **THE CATHERINE COOKSON CHARITABLE TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2021** ## **14. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: **----- Start of picture text -----**
|||||| |---|---|---|---|---| |Incoming|Resources|Gains and|Movement| |resources|expended|losses|in funds| |£|£|£|£| |Unrestricted funds| |General fund|1,205,297|(1,546,687)|(4,184,679)|(4,526,069)| |TOTAL FUNDS|1,205,297|(1,546,687)|(4,184,679)|(4,526,069)| **----- End of picture text -----**
A current year 12 months and prior year 12 months combined position is as follows: **----- Start of picture text -----**
||||| |---|---|---|---| |Net| |movement|At| |At 6/4/19|in funds|5/4/21| |£|£|£| |Unrestricted funds| |General fund|32,615,794|1,810,207|34,426,001| |TOTAL FUNDS|32,615,794|1,810,207|34,426,001| **----- End of picture text -----**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: **----- Start of picture text -----**
|||||| |---|---|---|---|---| |Incoming|Resources|Gains and|Movement| |resources|expended|losses|in funds| |£|£|£|£| |Unrestricted funds| |General fund|2,209,659|(2,823,458)|2,424,006|1,810,207| |TOTAL FUNDS|2,209,659|(2,823,458)|2,424,006|1,810,207| **----- End of picture text -----**
## **15. RELATED PARTY DISCLOSURES** Other than as disclosed in note 8 to the accounts, there were no related party transactions for the year ended 5th April 2021. ## **16. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES** **----- Start of picture text -----**
|||| |---|---|---| |2021|2020| |as| |restated| |£|£| |Net income/(expenditure) for the reporting period (as per| |the Statement of Financial Activities)|6,336,276|(4,526,069)| |Adjustments for:| |(Gain)/losses on investments|(475,926)|314,158| |Interest received|(890,785)|(1,087,579)| |Revaluation of investments|(6,132,759)|3,870,521| |(Increase)/Decrease in accrued interest|6,784|472| |Increase in debtors|(1,526)|(187)| |Increase/(decrease) in creditors|18,231|(1,298)| **----- End of picture text -----**
continued... Page 21 **THE CATHERINE COOKSON CHARITABLE TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2021** ## **16. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES - continued** **Net cash used in operations (1,139,705)** _(1,429,982)_ ## **17.. ANALYSIS OF CHANGES IN NET FUNDS** |**Net cash**
Cash at bank
**Total**|At 6/4/20
£
**1,284,083**
**1,284,083**
**1,284,083**|Cash flow
£
**(1,064,892)**
**(1,064,892)**
**(1,064,892)**|**At 5/4/21**
**£**
**219,191**
**219,191**
**219,191**| |---|---|---|---| Page 22 **THE CATHERINE COOKSON CHARITABLE TRUST** **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5TH APRIL 2021** |**INCOME AND ENDOWMENTS**
**Other trading activities**
Royalties received
**Investment income**
Income from cash investments
Income from listed investments
**Total incoming resources**
**EXPENDITURE**
**Other trading activities**
Commission
**Investment management costs**
Investment management
**Charitable activities**
Trustee's fees and expenses for
consideration of grant applications etc
Website costs
Sundries
Grants payable
**Support costs**
**Finance**
Bank charges
**Governance costs**
Audit fees
Accountancy and bookkeeping
Total resources expended
**Net expenditure before gains and**
**losses**
**Realised recognised gains and losses**
Realised gains/(losses) on fixed asset
investments
**Net income/(expenditure)**|2021
£
**120,361**
**34**
**883,967**
**884,001**
**1,004,362**
**49,320**
**129,220**
**53,552**
**1,600**
**-**
**1,033,250**
**1,088,402**
**316**
**1,560**
**7,953**
**9,513**
**1,276,771**
**(272,409)**
**475,926**
**203,517**|2020
_as restated_
_£_
132,968
311
1,072,018
1,072,329
1,205,297
42,775
118,296
51,893
1,910
135
1,320,600
1,374,538
331
1,500
9,247
10,747
1,546,687
(341,390)
(314,158)
(655,548)| |---|---|---| This page does not form part of the statutory financial statements Page 23