OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-04-05-accounts

REGISTERED CHARITY NUMBER: 272895

REPORT OF THE TRUSTEES AND

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2023

FOR

THE CATHERINE COOKSON CHARITABLE TRUST

THE CATHERINE COOKSON CHARITABLE TRUST

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2023

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 2023

The trustees present their report with the financial statements of the charity for the year ended 5th April 2023. 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. However, grants for smaller amounts and those particularly relevant to the North East of England are considered by the Trustees residing in that area.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The Trust made grants to 108 different organisations during the year with individual awards ranging from £100 to £100,000. 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.

During the year four properties were purchased to house refugees. The net surplus rental income after the deduction of costs from these properties, is directed for the benefit of St George's Church, Jesmond, Newcastle under a memorandum of understanding. This is included in the grants listed in note 6.

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 reduced by approximately 14%. The investments achieved an average income of 3.3% during the year.

Page 1

THE CATHERINE COOKSON CHARITABLE TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5TH APRIL 2023

FINANCIAL REVIEW

Results for the Year

The Statement of Financial Activities shows a deficit of £3,937,049 (2022 - £1,302,180 surplus). This is after deducting the net realised and unrealised losses on the investment assets. When comparing income to expenditure the Trust made a surplus of £226,178. 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.

The net surplus rents received was £10,770 and a grant for this amount was paid to the PCC of St. George's Church during the year.

At the end of the year the balance sheet shows total unrestricted funds of £31,791,132 (2022 - £35,728,181). The balance on the restricted fund was nil.

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

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 £31,791,132..

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. Having purchased 4 properties during 2022/23 the charity is in the process of purchasing 2 further properties in Newcastle Upon Tyne for a total cost of approximately £310,000.

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.

Page 2

THE CATHERINE COOKSON CHARITABLE TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5TH APRIL 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT 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

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

Page 3

THE CATHERINE COOKSON CHARITABLE TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5TH APRIL 2023

REFERENCE AND ADMINISTRATIVE DETAILS 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

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 25th October 2023 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 2023 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

26th October 2023

Page 7

THE CATHERINE COOKSON CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5TH APRIL 2023

2023 2022
Unrestricted Restricted Total Total
fund fund funds funds
Notes £ £ £ £
INCOME AND ENDOWMENTS FROM
Other trading activities 2 181,034 - 181,034 137,257
Investment income 3 884,702 17,745 902,447 899,161
Other income 2,303 - 2,303 -
Total 1,068,039 17,745 1,085,784 1,036,418
EXPENDITURE ON
Raising funds 4 171,195 6,975 178,170 193,983
Charitable activities 5
Grant related support costs 69,891 - 69,891 63,289
Grants payable in furtherance of the
Charity's objects 600,775 10,770 611,545 713,450
Total 841,861 17,745 859,606 970,722
Net gains/(losses) on investments (4,163,227) - (4,163,227) 1,236,484
NET INCOME/(EXPENDITURE) (3,937,049) - (3,937,049) 1,302,180
RECONCILIATION OF FUNDS
Total funds brought forward 35,728,181 - 35,728,181 34,426,001
TOTAL FUNDS CARRIED FORWARD 31,791,132 - 31,791,132 35,728,181

The notes form part of these financial statements

Page 8

THE CATHERINE COOKSON CHARITABLE TRUST

BALANCE SHEET 5TH APRIL 2023

2023 2022
Unrestricted Restricted Total Total
fund fund funds funds
Notes £ £ £ £
FIXED ASSETS
Investments
Investments 10 30,009,619 - 30,009,619 34,906,441
Investment property 11 1,022,384 - 1,022,384 -
31,032,003 - 31,032,003 34,906,441
CURRENT ASSETS
Debtors 12 61,302 - 61,302 27,712
Cash at bank 801,283 - 801,283 829,974
862,585 - 862,585 857,686
CREDITORS
Amounts falling due within one year 13 (103,456) - (103,456) (35,946)
NET CURRENT ASSETS 759,129 - 759,129 821,740
TOTAL ASSETS LESS CURRENT
LIABILITIES 31,791,132 - 31,791,132 35,728,181
NET ASSETS 31,791,132 - 31,791,132 35,728,181
FUNDS 14
Unrestricted funds 31,791,132 35,728,181
TOTAL FUNDS 31,791,132 35,728,181

The financial statements were approved by the Board of Trustees and authorised for issue on 25th October 2023 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 2023

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
Purchase of investment property
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		 2023
£
(639,711)
398
(639,313)
(8,435,230)
(1,018,384)
9,168,825
895,411
610,622
(28,691)
829,974
801,283		 2022
£
(831,839)
(398)
(832,237)
(9,386,115)
(4,000)
9,918,973
914,162
1,443,020
610,783
219,191
829,974

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 2023

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.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.

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.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

continued...

Page 11

THE CATHERINE COOKSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2023

1. ACCOUNTING POLICIES - continued

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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

2. OTHER TRADING ACTIVITIES
2023 2022
£ £
Royalties received 181,034 137,257
3. INVESTMENT INCOME
2023 2022
£ £
Rents received 17,745 -
Income from cash investments 2,512 4
Income from listed investments 882,190 899,157
902,447 899,161

continued...

Page 12

THE CATHERINE COOKSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2023

4. RAISING FUNDS

Other trading activities

Commission
Property costs
Investment management costs
Investment management
Exchange rate differences
Foreign exchange charges
Aggregate amounts
5.
CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities
Direct
(see note
Costs
6)
£
£
Grant related support costs
57,394
-
Grants payable in furtherance of
the Charity's objects
-
611,545
57,394
611,545
6.
GRANTS PAYABLE
Grants payable in furtherance of the Charity's objects
The total grants paid to institutions during the year was as
follows:
Education and Training
Medical, Health and Sickness
Religious Activities
Animal Welfare
Children and Young People
Disability
Arts and Culture
Other Charities/Voluntary Bodies		 2023
£
58,487
6,975
65,462
2023
£
112,134
480
94
112,708
178,170
Support
costs (see
note 7)
£
12,497
-
12,497
2023
£
611,545
2023
£
7,150
181,500
13,520
1,000
14,390
196,250
46,800
150,935
611,545		 2022
£
55,906
-
55,906
2022
£
129,236
6,355
2,486		 2022
£
55,906
-
55,906
138,077
193,983
Totals
£
69,891
611,545
681,436
2022
£
713,450
2022
£
13,100
417,850
14,000
15,000
26,900
16,750
9,250
200,600
713,450

continued...

Page 13

THE CATHERINE COOKSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2023

6. GRANTS PAYABLE - continued

Education and Training 250
250
250
1,000
250
500
900
1,000

Friends of High Clarence
Galileo Academy Trust (John E Batty School)
Harrowgate Hill Primary School
Human Values Foundation
Jarrow Cross C of E Primary
Jax Story
London Hearts
My Sisters' Kitchen
Read Easy UK 1,000
Reinvented with Friends 500
500
500
250
7,150
3,000
2,000
2,000
3,000
3,000
500
2,000
2,000
12,000
500
500
60,000
50,000
500
2,000
3,000
3,000
3,500
2,500
5,000
3,000
5,000
1,000
10,000
2,500
181,500
1,000
500
250
1,000
10,770
13,520
Solidarity Farm
St Aloysius School Hebburn
St Francis CE (Aided) Junior School
Medical, Health and Sickness
Action Medical Research
Batten Disease Family Association
Beep Doctors (Basics Cumbria)
Bone Cancer Research Trust
Crohn's & Colitis UK
Eyes Open
Great Western Air Ambulance
Hospice Care North Northumberland
Jessica's Sarcoma Awareness
Leo's
MACS
Marie Curie
Moorfields Eye Charity
National Kidney Federation
Retina UK
Royal Victoria Infirmary Paediatric Allergy Department
St Wilfrid's Hospice (Eastbourne)
The Children's Air Ambulance
The Darlington & District Hospice Movement
The Encephalitis Society
The Hampshire Medical Fund
The Institute of Cancer Research
The Sick Children's Trust
Versus Arthritics
Zoe's Place Baby Hospice
Religious Activities

Christ Church, Blacklands and St Andrew
Christ Church, Felling
Jewish Community Council of Gateshead
Teeside Vineyard Church
The PCC of St. George's Church, Jesmond

continued...

Page 14

THE CATHERINE COOKSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2023

6. GRANTS PAYABLE - continued

GRANTS PAYABLE - continued
Animal Welfare
Dog and Cat Shelter 1,000
1,000
Children and Young People

1st Whittingham BP Scout Group		 500
Children North East 1,000
High Sheriff of Northeasterly Youth Against Crime Award Scheme 1,000
Northumbria Army Cadet Force 500
ROCSOLID 2,000
Sailors Childrens Society 500
Save the Children 2,000
Siblings Together 400
Slamfresh 1,000
Starr in the Community 1,000
Tall Ships Youth Trust 1,500
The Kayaks 500
The Prince's Trust 2,240
Trinity Youth and Children's Project 500
Wansbeck District Explorer Scout Unit (from 2020/21 unpresented) (250)
14,390
Disability
Autistica 500
Alzheimer's Research 50,000
Cauldwell Children 500
Contact 250
Designability 100,000
Guide Dogs 1,000
Handicapped Children's Action Group 500
Hearing Dogs for Deaf People 1,000
Heel and Toe Children's Charity 5,000
JPC Community Farm 500
Little Treasures 500
Martha Trust 3,000
Newlife 500
North East Dementia Care (Sunderland) 3,000
RNIB 25,000
The Percy Hedley Foundation 5,000
196,250
Arts and Culture
Alphabetti Theatre 5,000
Elliott Smith Dance 1,000
Hartlepool Stage Society (unpresented from 2020/21) (2,500)
Keel Row Productions 3,000
Leaf Hall Community Arts Centre 15,000
Live Theatre 21,000
Mahogany Opera Group 500
Music at Paxton 800
Scottish Opera 2,000
The Durham Singers 500
Walker Majestics 500
46,800

continued...

Page 15

THE CATHERINE COOKSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2023

6. GRANTS PAYABLE - continued

GRANTS PAYABLE - continued
Other Charities/Voluntary Bodies

Bamburgh Parish Council		 11,000
Bamburgh Pavilion 5,000
Computeraid (unpresented from 2021/22) (1,500)
Cullercoats Watch House 1,000
Food Lifeline 250
Framwellgate Moor Youth & Community Association 1,000
Hosking Houses Trust 500
Hospitality & Hope 1,000
Lake District Foundation 985
Locomotion 100,000
Pennywell Neighbourhood Centre 600
Plain Sailing for Heroes 2,500
Reach Out Retreat 500
Seahouses Development Trust 3,000
South Shields FC Foundation 500
Tanfield Railway Trust 10,000
The British Forces Foundation 1,000
The English Heritage Trust 3,000
The Light Dragoons Charitable Trust 2,000
The Marske Centre 500
The Police Community Clubs of Great Britian 2,000
Ushaw College 1,000
Wag and Company North East Friendship Dogs 3,000
Welcome to our Future 100
West Jesmond Allotment Association 2,000
150,935
Total Grants Payable 611,545

7. SUPPORT COSTS

Grant related support costs
Support costs, included in the above, are as follows:
Finance
Bank charges		 Governance
Finance
costs
£
£
188
12,309
2023
Grant
related
support
costs
£
188		 Totals
£
12,497
2022
Total
activities
£
210

continued...

Page 16

THE CATHERINE COOKSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2023

7. SUPPORT COSTS - continued Governance costs

Audit fees
Accountancy and bookkeeping		 2023
Grant
related
support
costs
£
1,704
10,605
12,309		 2022
Total
activities
£
1,620
9,705
11,325

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 2023 were £33,814 (2022 - £33,803). The amount outstanding at 5 April 2023 was £14,179.

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 2023 were £28,175 (2022 - £25,916). The amount outstanding at 5 April 2023 was £8,552.

9. STAFF COSTS

There were no staff costs for the year ended 5th April 2023 nor for the year ended 5th April 2022.

10. FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTS
MARKET VALUE
At 6th April 2022
Additions
Disposals
Revaluations
At 5th April 2023
NET BOOK VALUE
At 5th April 2023
At 5th April 2022
Investment assets are represented by:		 Listed
investments
£
34,906,441
8,435,230
(10,058,011)
(3,274,041)
30,009,619
30,009,619
34,906,441
2023
2022
£
£
2,496,936
2,605,000
7,360,217
12,586,897
1,443,497
476,784
14,030,715
14,553,446
4,678,254
4,684,314
30,009,619
34,906,441
2023
£
UK bonds, fixed interest, preference shares and government
stocks		 2,496,936
UK equities and property 7,360,217
Overseas fixed interest 1,443,497
Overseas equities 14,030,715
Alternative assets 4,678,254
30,009,619

continued...

Page 17

THE CATHERINE COOKSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2023

10. FIXED ASSET INVESTMENTS - continued

2023 2022
£ £
Historical cost of investments 26,586,628 25,994,390
11.
INVESTMENT PROPERTY
FAIR VALUE
Additions
At 5th April 2023
NET BOOK VALUE
At 5th April 2023
At 5th April 2022		 £
1,022,384
1,022,384
1,022,384
-

The trustee's have considered the valuation of the investment property at the balance sheet date and consider the market value to be unchanged from the cost of the properties as they were purchased less than 12 months earlier.

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023 2022
£ £
Other debtors 50,000 4,000
Interest accrued 11,302 22,011
Tax - 398
VAT - 1,303
61,302 27,712

continued...

Page 18

THE CATHERINE COOKSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2023

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023 2022
£ £
VAT 2,817 -
Other creditors 100,639 35,946
103,456 35,946
14. MOVEMENT IN FUNDS
Net
movement At
At 6/4/22 in funds 5/4/23
£ £ £
Unrestricted funds
General fund 35,728,181 (3,937,049) 31,791,132
TOTAL FUNDS 35,728,181 (3,937,049) 31,791,132
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 1,068,039 **(841,861) ** **(4,163,227) ** (3,937,049)
Restricted funds
The PCC of St George's Church 17,745 (17,745) - -
TOTAL FUNDS 1,085,784 **(859,606) ** **(4,163,227) ** (3,937,049)
Comparatives for 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
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 1,036,418 (970,722) 1,236,484 1,302,180
TOTAL FUNDS 1,036,418 (970,722) 1,236,484 1,302,180

continued...

Page 19

THE CATHERINE COOKSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2023

14. MOVEMENT IN FUNDS - continued

In 2022/23 a memorandum of understanding was signed that the trust has offered to donate net surplus rental income received in order to provide certain financial support to The PCC of St. George's Church, Jesmond. A restricted fund was therefore set up to transfer the net surplus rents.

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 2023.

16. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

OPERATING ACTIVITIES
2023 2022
£ £
Net (expenditure)/income for the reporting period (as per
the Statement of Financial Activities) (3,937,049) 1,302,180
Adjustments for:
Losses/(gain) on investments 3,274,041 (630,401)
Interest received (895,411) (914,162)
Revaluation of investments 889,186 (606,083)
(Increase)/Decrease in accrued interest 10,709 15,001
(Increase)/decrease in debtors (48,697) 410
Increase in creditors 67,510 1,216
Net cash used in operations (639,711) (831,839)

17. ANALYSIS OF CHANGES IN NET FUNDS

At 6/4/22 Cash flow At 5/4/23
£ £ £
Net cash
Cash at bank 829,974 (28,691) 801,283
829,974 (28,691) 801,283
Total 829,974 (28,691) 801,283

Page 20

THE CATHERINE COOKSON CHARITABLE TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5TH APRIL 2023

INCOME AND ENDOWMENTS
Other trading activities
Royalties received
Investment income
Rents received
Income from cash investments
Income from listed investments
Other income
Other income
Total incoming resources
EXPENDITURE
Other trading activities
Commission
Property costs
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 before gains and losses		 2023
£
181,034
17,745
2,512
882,190
902,447
2,303
1,085,784
58,487
6,975
65,462
112,134
480
94
112,708
51,384
5,836
174
611,545
668,939
188
1,704
10,605
12,309
859,606
226,178		 2022
£
137,257
-
4
899,157
899,161
-
1,036,418
55,906
-
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

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 2023

Realised recognised gains and losses
Realised gains/(losses) on fixed asset
investments
Net (expenditure)/income		 2023
£
(889,186)
(663,008)		 2022
£
630,401
696,097

This page does not form part of the statutory financial statements

Page 22