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2024-04-05-accounts

REGISTERED CHARITY NUMBER: 272895

REPORT OF THE TRUSTEES AND

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2024

FOR

THE CATHERINE COOKSON CHARITABLE TRUST

THE CATHERINE COOKSON CHARITABLE TRUST

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2024

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 22
Detailed Statement of Financial Activities 23 to 24

THE CATHERINE COOKSON CHARITABLE TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5TH APRIL 2024

The trustees present their report with the financial statements of the charity for the year ended 5th April 2024. 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 171 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.

Six properties are owned to house refugees. The net surplus rental income after the deduction of costs from four of 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 increased by approximately 2%. The investments achieved an average income of 3.1% during the year.

FINANCIAL REVIEW

Results for the Year

The Statement of Financial Activities shows a surplus of £1,139,968 (2023 - £3,937,049 deficit). This is after adding the net realised and unrealised gains on the investment assets. When comparing income to expenditure the Trust made a deficit of £177,288. 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 £32,931,100 (2023 - £31,791,132). The balance on the restricted fund was nil.

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 2024

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 £32,931,100.

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.

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 2024

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 2024

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 20th November 2024 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 2024 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

20th November 2024

Page 7

THE CATHERINE COOKSON CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5TH APRIL 2024

2024 2023
Unrestricted Restricted Total Total
fund fund funds funds
Notes £ £ £ £
INCOME AND ENDOWMENTS FROM
Other trading activities 2 175,340 - 175,340 181,034
Investment income 3 820,701 24,336 845,037 902,447
Other income 124 - 124 2,303
Total 996,165 24,336 1,020,501 1,085,784
EXPENDITURE ON
Raising funds 4 160,650 6,339 166,989 178,170
Charitable activities 5
Grant related support costs 72,158 - 72,158 69,891
Grants payable in furtherance of the
Charity's objects 940,645 17,997 958,642 611,545
Total 1,173,453 24,336 1,197,789 859,606
Net gains/(losses) on investments 1,317,256 - 1,317,256 (4,163,227)
NET INCOME/(EXPENDITURE) 1,139,968 - 1,139,968 (3,937,049)
RECONCILIATION OF FUNDS
Total funds brought forward 31,791,132 - 31,791,132 35,728,181
TOTAL FUNDS CARRIED FORWARD 32,931,100 - 32,931,100 31,791,132

The notes form part of these financial statements

Page 8

THE CATHERINE COOKSON CHARITABLE TRUST

BALANCE SHEET 5TH APRIL 2024

2024 2023
Unrestricted Restricted Total Total
fund fund funds funds
Notes £ £ £ £
FIXED ASSETS
Investments
Investments 10 30,510,906 - 30,510,906 30,009,619
Investment property 11 1,333,575 - 1,333,575 1,022,384
31,844,481 - 31,844,481 31,032,003
CURRENT ASSETS
Debtors 12 24,290 - 24,290 61,302
Cash at bank 1,246,247 4,932 1,251,179 801,283
1,270,537 4,932 1,275,469 862,585
CREDITORS
Amounts falling due within one year 13 (183,918) (4,932) (188,850) (103,456)
NET CURRENT ASSETS 1,086,619 - 1,086,619 759,129
TOTAL ASSETS LESS CURRENT
LIABILITIES 32,931,100 - 32,931,100 31,791,132
NET ASSETS 32,931,100 - 32,931,100 31,791,132
FUNDS 14
Unrestricted funds 32,931,100 31,791,132
TOTAL FUNDS 32,931,100 31,791,132

The financial statements were approved by the Board of Trustees and authorised for issue on 20th November 2024 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 2024

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		 2024
£
(855,958)
-
(855,958)
(4,796,375)
(311,191)
5,612,344
801,076
1,305,854
449,896
801,283
1,251,179		 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

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 2024

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 2024

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
2024 2023
£ £
Royalties received 175,340 181,034
3. INVESTMENT INCOME
2024 2023
£ £
Rents received 32,298 17,745
Income from cash investments 8,662 2,512
Income from listed investments 804,077 882,190
845,037 902,447

continued...

Page 12

THE CATHERINE COOKSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2024

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
55,708
-
Grants payable in furtherance of
the Charity's objects
-
958,642
55,708
958,642
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		 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
55,708
-
Grants payable in furtherance of
the Charity's objects
-
958,642
55,708
958,642
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		 2024
2023
£
£
46,467
58,487
10,402
6,975
56,869
65,462
2024
2023
£
£
110,120
112,134
-
480
-
94
110,120
112,708
166,989
178,170
Support
costs (see
note 7)
Totals
£
£
16,450
72,158
-
958,642
16,450
1,030,800
2024
2023
£
£
958,642
611,545
2024
2023
£
£
244,850
7,150
188,446
181,500
85,997
13,520
11,139
1,000
28,321
14,390
45,129
196,250
16,060
46,800
338,700
150,935
958,642
611,545		 2024
2023
£
£
46,467
58,487
10,402
6,975
56,869
65,462
2024
2023
£
£
110,120
112,134
-
480
-
94
110,120
112,708
166,989
178,170
Support
costs (see
note 7)
Totals
£
£
16,450
72,158
-
958,642
16,450
1,030,800
2024
2023
£
£
958,642
611,545
2024
2023
£
£
244,850
7,150
188,446
181,500
85,997
13,520
11,139
1,000
28,321
14,390
45,129
196,250
16,060
46,800
338,700
150,935
958,642
611,545		 2023
£
58,487
6,975
65,462
2023
£
112,134
480
94		 2023
£
58,487
6,975
65,462
112,708
178,170
Totals
£
72,158
958,642
1,030,800
2023
£
611,545
2023
£
7,150
181,500
13,520
1,000
14,390
196,250
46,800
150,935
611,545

continued...

Page 13

THE CATHERINE COOKSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2024

6. GRANTS PAYABLE - continued

Education and Training 500
1,000
50,000
900
25,000
1,000
500
50,000

CSMC Cornerstones
Coram Shakespeare Schools Foundation
Dame Allan's School
Durham University
Durham University
Duchess's High School Trust
Friends of Hexham Priory School
Newcastle School
Newcastle High School 50,000
South Street Community Primary School 250
500
50,000
10,000
200
5,000
244,850
250
25,000
12,896
500
40,000
1,000
1,000
400
500
3,000
50,000
25,000
1,400
(500)
500
500
5,000
10,000
500
3,000
3,000
2,000
500
2,000
500
500
188,446
South Street Community Primary School
The Royal Grammar
University of Northumbria
Wessington Primary School
Woodlawn School Fund
Medical, Health and Sickness
Betsy and Jenny Counselling and Wellbeing Cafe
Cancer Research
Children with Cancer Fund (Polegate)
Chilli Studios
CHUF (Children's Heart Unit Fund)
Churches Together in South Tyneside Nurturing Dementia
Coping with Cancer North East
Cygnus Support
4Louis
Genetic Alliance UK
Great Ormond Street Hospital Children's Charity
Kidney Research UK
London Hearts
MACS (unpresented from 2022/23)
Magpas Air Ambulance
Orchid Cancer Appeal
Prostate Cancer UK
Sarcoma UK
Seaton Sluice Public Access Defibrillator Support Group
Teenage Cancer Trust
Teesside Hospice
Terrence Higgins Trust
The Macular Disease Society
Tynedale Hospice at Home
Veterans at Ease
Wellbeing Plus

continued...

Page 14

THE CATHERINE COOKSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2024

6. GRANTS PAYABLE - continued

GRANTS PAYABLE - continued
Animal Welfare
Alexa's Canine Trust 250
Blyth Wildlife Rescue 250
Durham Wildlife Trust 4,139
Oak Tree Animals Charity 3,000
The Flicka Foundation Donkey Sanctuary 500
Wetheriggs Animal Rescue & Conservation Centre 3,000
11,139
Religious Activities

Christ Church Restoration Appeal		 1,000
Greatham Parochial Church Council 1,000
Heaton Baptist Church 500
Hetton-le-Hole Independent Methodist Church 1,000
Jarrow and Simonside PCC 1,000
Jesmond Methodist Church 3,000
Lucker PCC 1,000
Redcar Parish Church PCC General Fund 1,000
Simonburn PCC 1,000
St Aidan's PCC Bamburgh 25,000
St Alban's Earsdon PCC Building Account 1,000
St Georges Church, Fatfield PCC 5,000
St George's Parochial Church Council 5,000
St George's United Reformed Church 1,000
St James and St Basil's Parochial Church Council 20,000
St Luke's Parochial Church Council 500
The PCC of St. George's Church, Jesmond 17,997
85,997
Children and Young People

1st Cramlington Rainbows		 500
4th Hartlepool Boys Brigade 500
ATC 733/Newcastle Airport Squadron 1,000
BookTrust 3,000
Dandelion Confidence 500
Headliners UK 1,000
Heighington BP Scouts 500
Krazee Krafters 500
Linx Youth Project 500
Newburn Sea Cadets 8,600
Ocean Youth Trust North 2,500
Prudhoe ATC No 1248 Sqdn Welfare Fund 340
Sensei Charity 500
Splash 1.000
Surf Yonder Academy 500
The Country Trust 200
The Outward Bound Trust 600
Tyneside Outdoors 2.000
Young Enterprise 3.581
North East Young Dads and Lads Project CIO 500
28,321

continued...

Page 15

THE CATHERINE COOKSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2024

6. GRANTS PAYABLE - continued

GRANTS PAYABLE - continued
Disability
AutismAble 250
Blind Veterans UK 1,000
Blyth Star Enterprises 2,500
Brainbox 500
British Disabled Angling Association 1,000
Choice Wellbeing Service 1,000
Endeavour Woodcrafts 500
Headway - The Brain Injury association 100
Headway Tyneside 1,000
Hetton Buddies 1,179
Humbledon Outdoor Activities Association 250
Journey Enterprises 500
LD NorthEast 4,000
Natural Ability limited 1,000
Newcastle Vision Support 5,000
Percy Hedley Foundation 20,000
Sunderland and North Durham Royal Society for the Blind 1,000
Teesside Ability Support Centre 600
The Chronicle Sunshine Fund 1,000
Walking With The Wounded 2,500
Wilkinson Park 250
45,129
Arts and Culture
CaroleW Productions and Events 600
Company of Others 1,000
Forum Cinema Hexham 3,000
Fox and Hound Theatre Company 250
International Guitar Foundation 1,000
Mohogany Opera Group (unpresented from 2022/23) (500)
National Youth Choirs of Great Britain Ltd 1,000
Orchestras Live 500
The Soundroom Community Music Project 960
The Twisting Ducks Theatre Company 250
Theatre Hullabaloo 5,000
Unfolding Theatre 500
Voices of Hope 1,000
We Make Culture 500
Wallsend Community Choir 500
Workie Ticket Theatre 500
16,060

continued...

Page 16

THE CATHERINE COOKSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2024

6. GRANTS PAYABLE - continued

GRANTS PAYABLE - continued
Other Charities/Voluntary Bodies

Action For Station Town		 1,000
Age UK North Tyneside 500
Argus Community Centre 650
Billys Lifeline 1,000
Blossoming Communities 250
Border Links 500
Building Futures East 500
Burradon and Camperdown Community Association 500
Calibre Audio 500
Caring Hands Charity 500
Charles Young Centre 500
Chopwell Regeneration 5,000
Cornerstone Supported Housing and Counselling Ltd 1,500
Creative Nurture 500
Cullercoats Watch House 25,000
Cumbria Gateway Limited 1,000
CVA Blyth Valley 500
Esh Winning Resident Association 500
Friends of Whitburn Library 30,000
Gateshead Football Club Community Foundation 250
Great Aycliffe Garden Guild 1,000
Greater Morpeth Development Trust 1,000
Great North Air Ambulance Service 5,000
Green Arts Newton Aycliffe 400
Hedworthfield Community Association 250
Inglesgarth Residents Social Club 250
Isabella Community Association Ltd 1,000
Jubilee Sailing Trust 1,000
London's Air Ambulance Limited 3,000
Miners Lamp Café 500
More Than Grandparents 1,000
NEPACS 500
Northumberland Community Enterprise Limited 500
Northern View (Berwick) 3,000
North Star Counselling 500
Pegswood Community Hub 250
Pelton Community Centre - Room 14 500
People and Drugs Ltd (Silx Teen Bar Youth Project) 500
Rainbow Home 500
Sangini 250
Slaley Show 1,000
Something Positive Solutions 500
St Mary's Hospital Almshouses 100,000
St. Pauls Community Partnership 250
SURT NE 500
The Auckland Project 100,000
The Chris Cave Foundation 250
The Glendale Gateway Trust 250
Triangular 500
Tyne and Wear Archives and Museums Development Trust 40,000
Ulverston Inshore Rescue 500
Wallsend Kinship Carers 200
West End Refugee Service 1,500
Yorkshire Air Ambulance 1,700
338,700

continued...

Page 17

THE CATHERINE COOKSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2024

6. GRANTS PAYABLE - continued

7. Total Grants Payable
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

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 2024 were £38,376 (2023 - £33,814). The amount outstanding at 5 April 2024 was £15,108.

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 2024 were £28,432 (2023 - £28,175). The amount outstanding at 5 April 2023 was £7,674.

continued...

Page 18

THE CATHERINE COOKSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2024

9. STAFF COSTS

There were no staff costs for the year ended 5th April 2024 nor for the year ended 5th April 2023.

10. FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTS
MARKET VALUE
At 6th April 2023
Additions
Disposals
Revaluations
At 5th April 2024
NET BOOK VALUE
At 5th April 2024
At 5th April 2023
Investment assets are represented by:		 Listed
investments
£
30,009,619
4,796,375
(5,722,273)
1,427,185
30,510,906
30,510,906
30,009,619
2024
2023
£
£
3,601,116
2,496,936
6,866,479
7,360,217
1,024,470
1,443,497
16,247,225
14,030,715
2,771,615
4,678,254
30,510,905
30,009,619
2024
2023
£
£
26,056,223
26,586,628
2024
£
UK bonds, fixed interest, preference shares and government
stocks		 3,601,116
UK equities and property 6,866,479
Overseas fixed interest 1,024,470
Overseas equities 16,247,225
Alternative assets 2,771,615
30,510,905
2024
£
Historical cost of investments 26,056,223

11. INVESTMENT PROPERTY

FAIR VALUE
At 6th April 2023
Additions
At 5th April 2024
NET BOOK VALUE
At 5th April 2024
At 5th April 2023		 £
1,022,384
311,191
1,333,575
1,333,575
1,022,384

continued...

Page 19

THE CATHERINE COOKSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2024

11. INVESTMENT PROPERTY - continued

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.

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024 2023
£ £
Other debtors 1,325 50,000
Interest accrued 22,965 11,302
24,290 61,302
13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
VAT 1,300 2,817
Other creditors 187,550 100,639
188,850 103,456
14. MOVEMENT IN FUNDS
Net
movement At
At 6/4/23 in funds 5/4/24
£ £ £
Unrestricted funds
General fund 31,791,132 1,139,968 32,931,100
TOTAL FUNDS 31,791,132 1,139,968 32,931,100
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 996,165 (1,173,453) 1,317,256 1,139,968
Restricted funds
The PCC of St George's Church 24,336 (24,336) - -
TOTAL FUNDS 1,020,501 (1,197,789) 1,317,256 1,139,968

continued...

Page 20

THE CATHERINE COOKSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2024

14. MOVEMENT IN FUNDS - continued

Comparatives for 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
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 1,068,039 (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)

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 INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES


OPERATING ACTIVITIES
2024 2023
£ £
Net income/(expenditure) for the reporting period (as per
the Statement of Financial Activities) 1,139,968 (3,937,049)
Adjustments for:
(Gain)/losses on investments (1,427,185) 3,274,041
Interest received (801,076) (895,411)
Revaluation of investments 109,929 889,186
(Increase)/Decrease in accrued interest (11,663) 10,709
Decrease/(increase) in debtors 48,675 (48,697)
Increase in creditors 85,394 67,510
Net cash used in operations (855,958) (639,711)

continued...

Page 21

THE CATHERINE COOKSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2024

17. ANALYSIS OF CHANGES IN NET FUNDS

Net cash
Cash at bank
Total		 At 6/4/23
£
801,283
801,283
801,283		 Cash flow
£
449,896
449,896
449,896		 At 5/4/24
£
1,251,179
1,251,179
1,251,179

Page 22

THE CATHERINE COOKSON CHARITABLE TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5TH APRIL 2024

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 (expenditure)/income before
gains and losses		 2024
£
175,340
32,298
8,662
804,077
845,037
124
1,020,501
46,467
10,402
56,869
110,120
-
-
110,120
54,650
948
110
958,642
1,014,350
2,468
1,824
12,158
13,982
1,197,789
(177,288)		 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

This page does not form part of the statutory financial statements

Page 23

THE CATHERINE COOKSON CHARITABLE TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5TH APRIL 2024

2024 2023
£ £
Realised recognised gains and losses
Realised gains/(losses) on fixed asset
investments (109,929) (889,186)
Net expenditure (287,217) (663,008)

This page does not form part of the statutory financial statements

Page 24