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2022-04-05-accounts

REGISTERED CHARITY NUMBER: 272895

REPORT OF THE TRUSTEES AND

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2022

FOR

THE CATHERINE COOKSON CHARITABLE TRUST

THE CATHERINE COOKSON CHARITABLE TRUST

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2022

Page Page 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 20
Detailed Statement of Financial Activities 21 to 22

THE CATHERINE COOKSON CHARITABLE TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5TH APRIL 2022

The trustees present their report with the financial statements of the charity for the year ended 5th April 2022. 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 92 different organisations during the year with individual awards ranging from £250 to £250,000. 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. 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 2%. The investments achieved an average income of 2.6% during the year.

FINANCIAL REVIEW

Results for the Year

The Statement of Financial Activities shows a surplus of £1,302,180 (2021 - £6,336,276). This is after adding the net gains on the investment assets. When comparing income to expenditure the Trust made a surplus of £65,696. 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 £35,728,181 (2021 - £34,426,001).

The chief sources of income for the year were from royalties and investment income.

Page 1

THE CATHERINE COOKSON CHARITABLE TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5TH APRIL 2022

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 £35,728,181.

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. The charity is in the process of purchasing 4 properties in Newcastle Upon Tyne which will be used to provide accommodation for Ukrainian refugees. Local agents will be instructed to manage the properties, collect rents and attend to outgoings. The trustees have agreed that any surplus income could be directed for the benefit of St Georges Church, Jesmond, Newcastle, at the Trustees' discretion. The cost of all four properties will be in the region of £1,070,000.

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.

Page 2

THE CATHERINE COOKSON CHARITABLE TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5TH APRIL 2022

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 272895

Principal address

Messrs Thomas Magnay & Co 8 St Mary's Green Whickham Newcastle-upon-Tyne NE16 4DN

Trustees

P Magnay D S S Hawkins D E Sallows P H L Mallen

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 25 Copthall Avenue London EC2R 7AH

Page 3

THE CATHERINE COOKSON CHARITABLE TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5TH APRIL 2022

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

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 29th November 2022 and signed on its behalf by:

D E Sallows - 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 2022 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).

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:

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:

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

30th November 2022

Page 7

THE CATHERINE COOKSON CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5TH APRIL 2022

2022 2021
Unrestricted Total
fund funds
Notes £ £
INCOME AND ENDOWMENTS FROM
Other trading activities 2 137,257 120,361
Investment income 3 899,161 884,001
Total 1,036,418 1,004,362
EXPENDITURE ON
Raising funds 4 193,983 178,540
Charitable activities 5
Grant related support costs 63,289 64,981
Grants payable in furtherance of the
Charity's objects 713,450 1,033,250
Total 970,722 1,276,771
Net gains on investments 1,236,484 6,608,685
NET INCOME 1,302,180 6,336,276
RECONCILIATION OF FUNDS
Total funds brought forward 34,426,001 28,089,725
TOTAL FUNDS CARRIED FORWARD 35,728,181 34,426,001

The notes form part of these financial statements

Page 8

THE CATHERINE COOKSON CHARITABLE TRUST

BALANCE SHEET 5TH APRIL 2022

2022 2021
Unrestricted Total
fund funds
Notes £ £
FIXED ASSETS
Investments 10 34,906,441 34,202,815
CURRENT ASSETS
Debtors 11 27,712 38,725
Cash at bank 829,974 219,191
857,686 257,916
CREDITORS
Amounts falling due within one year 12 (35,946) (34,730)
NET CURRENT ASSETS 821,740 223,186
TOTAL ASSETS LESS CURRENT
LIABILITIES 35,728,181 34,426,001
NET ASSETS 35,728,181 34,426,001
FUNDS 13
Unrestricted funds 35,728,181 34,426,001
TOTAL FUNDS 35,728,181 34,426,001

The financial statements were approved by the Board of Trustees and authorised for issue on 29th November 2022 and were signed on its behalf by:

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 2022

Notes
Cash flows from operating activities
Cash generated from operations
15
Tax paid
Net cash used in operating activities
Cash flows from investing activities
Purchase of fixed asset investments
Purchase of investment property
Sale of fixed asset investments
Interest received
Dividends 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		 2022
£
(831,839)
(398)
(832,237)
(9,386,115)
(4,000)
9,918,973
936,173
(22,011)
1,443,020
610,783
219,191
829,974		 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

Cash and cash equivalents at the end of the reporting period

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 2022

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.

continued...

Page 11

THE CATHERINE COOKSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2022

1. ACCOUNTING POLICIES - continued

Debtors

Debtors are recognised at their recoverable amounts to which the trust is entitled.

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
Exchange rate differences
Foreign exchange charges
Aggregate amounts		 2022
£
137,257
2022
£
4
899,157
899,161
2022
£
55,906
2022
£
129,236
6,355
2,486
138,077
193,983		 2021
£
120,361		 2021
£
120,361
2021
£
34
883,967
884,001
2021
£
49,320
2021
£
129,220
-
-		 2021
£
49,320
129,220
178,540

continued...

Page 12

THE CATHERINE COOKSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2022

5. CHARITABLE ACTIVITIES COSTS

CHARITABLE ACTIVITIES COSTS
Grant related support costs
Grants payable in furtherance of
the Charity's objects		 Direct
Costs
£
51,754
-
51,754		 Grant
funding of
activities
(see note
6)
£
-
713,450
713,450		 Support
costs (see
note 7)
£
11,535
-
11,535		 Totals
£
63,289
713,450
776,739

6. GRANTS PAYABLE

GRANTS PAYABLE
2022 2021
£ £
Grants payable in furtherance of the Charity's objects 713,450 1,033,250
The total grants paid to institutions during the year was as
follows:
2022 2021
£ £
Education and Training 13,100 222,650
Medical, Health and Sickness 417,850 171,200
Religious Activities 14,000 128,050
Animal Welfare 15,000 3,850
Children and Young People 26,900 56,300
Disability 16,750 200,200
Arts and Culture 9,250 145,150
Other Charities/Voluntary Bodies 200,600 105,850
713,450 1,033,250

continued...

Page 13

THE CATHERINE COOKSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2022

6. GRANTS PAYABLE - continued

Education and Training 2,500
1,500
500
1,300
1,000
3,000
3,000
300

Inspiring Minds
Kells Lane Primary School
MAP
Shiremoor Primary School
St Gregory's R C Primary School
The Duchess's High School Trust
The Kepplewray Trust
West End Schools Trust - Replacement for cheque written back 2020/21
13,100
1,000
10,000
10,000
600
250,000
500
2,000
25,000
500
75,000
4,000
2,000
5,000
1,000
250
500
1,000
1,000
25,000
2,000
1,000
500
417,850
5,000
1,000
3,000
500
500
4,000
14,000
3,000
500
5,000
5,000
1,000
500
15,000
Medical, Health and Sickness
Blue Sky Trust
Bowel Research UK
Brain Tumour Research
British Acoustic Neuroma Association
Cancer Research UK
Clowns in the Sky
Diabetes UK
Evelina Children's Hospital
Interact Stroke Support
King's College Hospital
Methodist Homes Association
MS Society
Oxford Breast Buddy Group
Pumping Marvellous Foundation
Richmond Fellowship
Royal Voluntary Service
St John Ambulance
Swan UK
The Liver Group Charity
The North Northumberland Hospice
The Prince of Wales Hospice
The Willow Foundation
Religious Activities

Fulwell Methodist Church
John the Baptist Alnmouth
Mothers' Union
Newcastle City Centre Chaplains
St Andrew's Methodist Church
Stranton Parochial Church Council
Animal Welfare
Chillingham Wild Cattle Association
Dogs Trust
Farplace Animal Rescue
RSPB England
The Donkey Sanctuary
The Scottish Sea Bird Centre

continued...

Page 14

THE CATHERINE COOKSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2022

6. GRANTS PAYABLE - continued

Children and Young People

12th Darlington Scouts (from 2020/21 unpresented)		 (1,000)
Brandon Carriside Youth & Comm Project Brandon 3,000
Community @NE66 Charitable Trust 3,000
Depaul UK 500
Happy Days 1,000
Newburn Sea Cadets 14,000
The Children's Foundation 5,000
The Children's Trust 500
The Key 600
The Police Community Clubs of Great Britain 300
26,900
Disability
3H Fund 1,000
Blind in Business 250
Brainwave 1,000
Disabled Sailors Association 500
Go Kids Go 1,000
Guide Dogs for the Blind Association 500
Minerva Northumberland Ltd 500
Ouseburn Charity Farm Ltd 2,000
Seeing Dogs 5,000
The Kayaks 5,000
16,750
Arts and Culture
Frozen Light Theatre 1,000
Hastings Litfest 500
Kelly Henry School of Irish Dance 1,000
Moore Arts 2,000
Newbiggin Arts Centre 250
North of England Brass Band Championships 500
The Vulture Club 1,000
Whitehaven Theatre Group Trust 3,000
9,250
Other Charities/Voluntary Bodies

324 (South Shields) Air Squadron RAFA		 500
ABF The Soldiers' Charity 1,000
Acts 3,500
Bamburgh Pavilion Association 60,000
Computer Aid 1,500
Cruse Bereavement Support 3,000
Ellingham Village Hall 25,000
Emmaus - North East 5,000
Friends of Jesmond Library 30,000
Greater Morpeth Development Trust 1,000
Haven Tyneside 2,000
Jesmond Dene Real Tennis Club 50,000
Mission to Seafarers 500
Norton Sports Charity 2,000
National Search & Rescue Dog Association 500
The Community Foundation (High Sheriff of Northumberland) 1,000
The Community Foundation (High Sheriff of Tyne & Wear) 1,000
The Police Community Clubs of Great Britian 1,500

continued...

Page 15

THE CATHERINE COOKSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2022

6. GRANTS PAYABLE - continued

GRANTS PAYABLE - continued
Thornley Close Football Club 500
TVCP 2,500
Tyne Rivers Trust 1,000
Walk & Talk Trust 3,000
Works 4 You 4,600
200,600
Total Grants Payable 713,450

7. SUPPORT COSTS

Grant related support costs
Support costs, included in the above, are as follows:
Finance
Bank charges
Governance costs
Audit fees
Accountancy and bookkeeping		 Governance
Finance
costs
£
£
210
11,325
2022
Grant
related
support
costs
£
210
2022
Grant
related
support
costs
£
1,620
9,705
11,325		 Totals
£
11,535
2021
Total
activities
£
316
2021
Total
activities
£
1,560
7,953
9,513

8. TRUSTEES' REMUNERATION AND BENEFITS

D.E. Sallows is a partner 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 2022 were £33,803 (2021 - £34,280). The amount outstanding at 5 April 2022 was £12,903.

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 2022 were £25,916 (2021 - £27,225). The amount outstanding at 5 April 2022 was £6,765.

continued...

Page 16

THE CATHERINE COOKSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2022

9. STAFF COSTS

There were no staff costs for the year ended 5th April 2022 nor for the year ended 5th April 2021.

10. FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTS
MARKET VALUE
At 6th April 2021
Additions
Disposals
Revaluations
At 5th April 2022
NET BOOK VALUE
At 5th April 2022
At 5th April 2021
Investment assets are represented by:		 Listed
investments
£
34,202,815
9,386,115
(9,288,572)
606,083
34,906,441
34,906,441
34,202,815
2022
2021
£
£
2,605,000
3,874,506
12,586,897
14,045,320
476,784
292,683
14,553,446
12,231,068
4,684,314
3,759,238
34,906,441
34,202,815
2022
2021
£
£
25,994,390
24,392,087
2022
£
UK bonds, fixed interest, preference shares and government
stocks		 2,605,000
UK equities and property 12,586,897
Overseas fixed interest 476,784
Overseas equities 14,553,446
Alternative assets 4,684,314
34,906,441
2022
£
Historical cost of investments 25,994,390

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other debtors
Interest accrued
Tax
VAT		 2022
£
4,000
22,011
398
1,303
27,712		 2021
£
-
37,012
-
1,713
38,725

continued...

Page 17

THE CATHERINE COOKSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2022

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022 2021
£ £
Other creditors 35,946 34,730
13. MOVEMENT IN FUNDS
Net
movement At
At 6/4/21 in funds 5/4/22
£ £ £
Unrestricted funds
General fund 34,426,001 1,302,180 35,728,181
TOTAL FUNDS 34,426,001 1,302,180 35,728,181
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 1,036,418 (970,722) 1,236,484 1,302,180
TOTAL FUNDS 1,036,418 (970,722) 1,236,484 1,302,180
Comparatives for 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
Comparative 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

continued...

Page 18

THE CATHERINE COOKSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2022

13. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 6/4/20 in funds 5/4/22
£ £ £
Unrestricted funds
General fund 28,089,725 7,638,456 35,728,181
TOTAL FUNDS 28,089,725 7,638,456 35,728,181

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
2,040,780
2,040,780		 Resources
expended
£
(2,247,493)
(2,247,493)		 Gains and
losses
£
7,845,169
7,845,169		 Movement
in funds
£
7,638,456
7,638,456

14. 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 2022.

15. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES OPERATING ACTIVITIES
2022 2021
£ £
Net income for the reporting period (as per the Statement
of Financial Activities) 1,302,180 6,336,276
Adjustments for:
Gain on investments (630,401) (475,926)
Interest received (936,173) (890,785)
Dividends received 22,011 -
Revaluation of investments (606,083) (6,132,759)
(Increase)/Decrease in accrued interest 15,001 6,784
Decrease/(increase) in debtors 410 (1,526)
Increase in creditors 1,216 18,231
Net cash used in operations (831,839) (1,139,705)

16.. ANALYSIS OF CHANGES IN NET FUNDS

Net cash
Cash at bank		 At 6/4/21
£
219,191
219,191		 Cash flow
At 5/4/22
£
£
610,783
829,974
610,783
829,974

continued...

Page 19

THE CATHERINE COOKSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2022

16.. ANALYSIS OF CHANGES IN NET FUNDS - continued Total 219,191 610,783 829,974

Page 20

THE CATHERINE COOKSON CHARITABLE TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5TH APRIL 2022

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
Exchange rate differences
Foreign exchange charges
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 income/(expenditure) before
gains and losses
Realised recognised gains and losses
Carried forward		 2022
£
137,257
4
899,157
899,161
1,036,418
55,906
129,236
6,355
2,486
138,077
50,014
1,600
140
713,450
765,204
210
1,620
9,705
11,325
970,722
65,696
65,696		 2021
£
120,361
34
883,967
884,001
1,004,362
49,320
129,220
-
-
129,220
53,552
1,600
-
1,033,250
1,088,402
316
1,560
7,953
9,513
1,276,771
(272,409)
(272,409)

This page does not form part of the statutory financial statements

Page 21

THE CATHERINE COOKSON CHARITABLE TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5TH APRIL 2022

2022 2021
£ £
Realised recognised gains and losses
Brought forward 65,696 (272,409)
Realised gains/(losses) on fixed asset
investments 630,401 475,926
Net income 696,097 203,517

This page does not form part of the statutory financial statements

Page 22