Docusign Envelope ID: EBC8EB7F-C287-41EB-885B-0C4B73334B47
**Charity number: 500907**
## **THE NEWCASTLE MANSION HOUSE TRUST**
## **UNAUDITED**
**TRUSTEE'S REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2024**
Docusign Envelope ID: EBC8EB7F-C287-41EB-885B-0C4B73334B47
## **THE NEWCASTLE MANSION HOUSE TRUST**
|**CONTENTS**||
|---|---|
||Page|
|**Reference and Administrative Details of the Charity, its Trustees and Advisers**|1|
|**Trustee's Report**|2 - 5|
|**Independent Examiner's Report**|6|
|**Statement of Financial Activities**|7|
|**Balance Sheet**|8|
|**Notes to the Financial Statements**|9 - 20|
Docusign Envelope ID: EBC8EB7F-C287-41EB-885B-0C4B73334B47
## **THE NEWCASTLE MANSION HOUSE TRUST**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024**
## **Trustees**
Newcastle City Council
## **Charity registered number**
500907
## **Principal office**
The Mansion House Fernwood Road Jesmond Newcastle upon Tyne NE2 1TJ
## **Bankers**
For administrative convenience the Trust uses the bank account of the City of Newcastle upon Tyne.
## **Solicitors**
C/O L Scott Service Manager Democratic Services City of Newcastle upon Tyne Civic Centre Barras Bridge Newcastle upon Tyne NE99 2BN
The Advisory Committee Councillor Alexander Hay Chair Councillor Charlie Gray Vice Chair Councillor Gerry Keating Malcolm Lumsden - external advisor
Page 1
Docusign Envelope ID: EBC8EB7F-C287-41EB-885B-0C4B73334B47
## **THE NEWCASTLE MANSION HOUSE TRUST**
## **TRUSTEE'S REPORT FOR THE YEAR ENDED 31 MARCH 2024**
The Trustee present their annual report together with the financial statements of the Charity for the year from 1 April 2023 to 31 March 2024.
The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the charity’s governing document, the Charities Act 2011 and the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
## **Objectives and activities**
## **Policies and objectives**
The Trustee has referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the aims and objectives and in planning future activities.
Reference should be made to Activities for achieving objectives below for further information relating to the Trust's compliance with provision of its public benefit.
## **Activities undertaken to achieve objectives**
The Mansion House represents the official residence of the Lord Mayor and as such is used for a wide range of Civic events, such as Civic lunches and dinners, 'at home' receptions for visiting dignitaries to the City, particularly those linked to the Lord Mayor's themes for their year in office.
The City Council also uses the Mansion House for meetings involving the City Council and its partners.
However, in order to generate additional income and thereby minimise the financial contribution by the City Council as sole Trustee, the House is also used for a wide range of other purposes on the basis that such uses remain subordinate to the Lord Mayor's and the City's requirements. Such uses include civil weddings and private functions. From 1 April 2021 such activities are managed by the trading subsidiary within the context of a business plan as endorsed by the Advisory Committee.
## **Achievements and performance**
## **Review of activities**
The Mansion House continues to host various events including Charitable Trust Events, Private and Conference Dinners and Celebration parties although there has been a fall in Wedding bookings.
Following last year’s tree inspections, we are awaiting an update from the tree surgeons to see if all essential work has been done and identify any further work planned for the coming year.
Regular repairs and maintenance have been conducted across the Mansion House including re-upholstering soft furnishings in line with new fire safety regulations, repairing a bedroom ceiling following collapse due to a broken drainpipe and re-enamelling all baths.
There are continued ongoing maintenance costs
Page 2
Docusign Envelope ID: EBC8EB7F-C287-41EB-885B-0C4B73334B47
## **THE NEWCASTLE MANSION HOUSE TRUST**
## **TRUSTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024**
## **Financial review**
## **Overview**
The Trust incurred expenditure of £171,775 on the provision of a Mansion House for the City of Newcastle upon Tyne. After receipt of rental income and contributions from the City of Newcastle upon Tyne, the Trust has made a deficit for the year of £111,355.
## **Going concern**
The balance sheet shows negative unrestricted funds of £1,145,073 at 31 March 2024. The Trustees have considered current and future activity of the Newcastle Mansion House Trust and the support offered through Newcastle City Council and conclude there is a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. A longer term plan needs to be considered and put in place to ensure the viability and sustainability of the Mansion House for the future.
For this reason, the Trustees continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
## **Financial risk management objectives and policies**
The Trustee has assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity and is satisfied that systems and procedures are in place to mitigate our exposure to the major risks.
## **Principal funding**
The Trust receives rental income, when appropriate, a donation from the trading subsidiary and contributions towards the upkeep of the Mansion House including from the City of Newcastle upon Tyne which made a contribution of £12,360 (2022/23 : £12,360) in addition to charges for the use as a Mansion House.
## **Structure, governance and management**
## **Constitution**
The Newcastle Mansion House Trust is a registered charity, number 500907, and is constituted under a Trust deed.
The principal object of the Trust is to provide a Mansion House for the City of Newcastle upon Tyne. The Mansion House is the official residence of the Lord Mayor of Newcastle upon Tyne.
## **Methods of appointment or election of Trustee**
The management of the Trust is the responsibility of the Trustee who is elected and co-opted under the terms of the Trust deed.
Page 3
Docusign Envelope ID: EBC8EB7F-C287-41EB-885B-0C4B73334B47
## **THE NEWCASTLE MANSION HOUSE TRUST**
## **TRUSTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024**
## **Structure, governance and management (continued)**
## **Organisational structure and decision-making policies**
Newcastle City Council acquired the Mansion House by an Assent dated 7 December 1953 from the executors of Arthur Sutherland deceased by way of a gift. The purpose of the gift is set out in his Will dated 3 December 1951 which provided that the Council had the opportunity of exercising an option to accept the gift "for the purpose of a Mansion House for the City".
The gift was declared charitable and the property was therefore registered with the Charity Commissioners as a Charity in 1971.
The property is vested in the Council on charitable trust for the purpose of a Mansion House, the Council being the sole Trustee of the Trust. In 1990 the Charity Commissioners made an Administrative Scheme of the Trust.
The City Council is the sole Trustee of the Mansion House and has appointed an Advisory Committee to oversee the use and management of the premises. The Committee comprises three City Councillors, the Lord Mayor and up to three external advisors as shown in the Reference and Administrative Details
The Newcastle Mansion House Trading Company was incorporated on 23 December 2015 to take over the trading activity of the Trust and trading activities were transfered from 1 April 2021.
## **Plans for future periods**
We will review the medium to long term position of the Mansion House and explore opportunities to work with partners.
## **Statement of Trustee's responsibilities**
The Trustee are responsible for preparing the Trustee's Report 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 & Wales requires the Trustee to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustee are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
Page 4
Docusign Envelope ID: EBC8EB7F-C287-41EB-885B-0C4B73334B47
## **THE NEWCASTLE MANSION HOUSE TRUST**
## **TRUSTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024**
## **Statement of Trustee's responsibilities (CONTINUED)**
The Trustee are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and 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.
Approved by order of the members of the board of Trustee on 18 December 2024 and signed on their behalf by:
## **Councillor L A Storey On behalf of Newcastle City Council as Trustee of the Newcastle Mansion House Trust**
Page 5
Docusign Envelope ID: EBC8EB7F-C287-41EB-885B-0C4B73334B47
## **THE NEWCASTLE MANSION HOUSE TRUST**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024**
## **Independent Examiner's Report to the Trustee of The Newcastle Mansion House Trust ('the Charity')**
I report to the charity Trustee on my examination of the accounts of the Charity for the year ended 31 March 2024.
## **Responsibilities and Basis of Report**
As the Trustee of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent Examiner's Statement**
Your attention is drawn to the fact that the Charity has prepared the 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 been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the Charity's Trustee, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustee those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustee as a body, for my work or for this report.
> Signed:[Dutlen][Anderson] Dated: 18 December 2024 Detlev Anderson FCA 8228AFA7794A4DC...
## **Kinnair Associates Limited**
Chartered Accountants Aston House Redburn Road Newcastle upon Tyne NE5 1NB
Page 6
Docusign Envelope ID: EBC8EB7F-C287-41EB-885B-0C4B73334B47
## **THE NEWCASTLE MANSION HOUSE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024**
|**Note**
**Income and endowments from:**
Charitable activities
3
Investments
4
**Total income and endowments**
**Expenditure on:**
Charitable activities
5
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Endowment**
**funds**
**2024**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**264,681**
**-**
**264,681**|**Unrestricted**
**funds**
**2024**
**£**
**42,756**
**17,664**
**60,420**
**171,775**
**171,775**
**(111,355)**
**(1,033,718)**
**(111,355)**
**(1,145,073)**|**Total**
**funds**
**2024**
**£**
**42,756**
**17,664**
**60,420**
**171,775**
**171,775**
**(111,355)**
**(769,037)**
**(111,355)**
**(880,392)**|_Total_
_funds_
_2023_
_£_
_29,036_
_17,874_
_46,910_
_174,394_
_174,394_
_(127,484)_
_(641,553)_
_(127,484)_
_(769,037)_|
|---|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 9 to 20 form part of these financial statements.
Page 7
Docusign Envelope ID: EBC8EB7F-C287-41EB-885B-0C4B73334B47
## **THE NEWCASTLE MANSION HOUSE TRUST**
## **BALANCE SHEET AS AT 31 MARCH 2024**
||||**2024**|**2024**||_2023_|_2023_|
|---|---|---|---|---|---|---|---|
||**Note**||**£**|||_£_||
|**Fixed assets**||||||||
|Tangible assets|10||**48,892**|||_58,081_||
|Investments|11||**181,545**|||_181,545_||
||||**230,437**|||_239,626_||
|**Current assets**||||||||
|Debtors|12|**110,137**|||_86,793_|||
|||**110,137**|||_86,793_|||
|Creditors: amounts falling due within one||||||||
|year|13|**(1,191,870)**|||_(1,062,203)_|||
|**Net current liabilities**|||**(1,081,733)**|||_(975,410)_||
|**Total assets less current liabilities**|||**(851,296)**|||_(735,784)_||
|Creditors: amounts falling due after more||||||||
|than one year|14||**(29,096)**|||_(33,253)_||
|**Net liabilities excluding pension asset**|||**(880,392)**|||_(769,037)_||
|**Total net assets**|||**(880,392)**|||_(769,037)_||
|**Charity funds**||||||||
|Endowment funds|15||**264,681**|||_264,681_||
|Restricted funds|15||**-**|||_-_||
|Unrestricted funds|15||**(1,145,073)**|||_(1,033,718)_||
|**Total funds**|||**(880,392)**|||_(769,037)_||
The financial statements were approved and authorised for issue by the Trustee on 18 December 2024 and signed on their behalf by:
## **Councillor L A Storey On behalf of Newcastle City Council as Trustee of the Newcastle Mansion House Trust**
The notes on pages 9 to 20 form part of these financial statements.
Page 8
Docusign Envelope ID: EBC8EB7F-C287-41EB-885B-0C4B73334B47
## **THE NEWCASTLE MANSION HOUSE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **1. General information**
The Newcastle Mansion House Trust is a registered charity, number 500907, and is constituted under a Trust deed. The principal address is The Mansion House, Fernwood Road, Jesmond, Newcastle upon Tyne, NE2 1TJ.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and 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 Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Newcastle Mansion House Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
These financial statements are in respect of the Charity only. The Charity is not required to prepare group accounts as the group headed by it is a small group.
## **2.2 Going concern**
As explained in the annual report, the Trust provides facilities for the Lord Mayor of Newcastle upon Tyne and other civic events for the City Council of Newcastle upon Tyne. The balance sheet shows negative unrestricted funds of £1,145,073 at 31 March 2024 and the Trust is supported by the City of Newcastle upon Tyne which is the major unrestricted creditor as explained in the notes to the financial statements.
The Trustee has received assurances from the City Council of Newcastle upon Tyne that they will continue the ongoing support of the Trust and therefore, the Trustee has a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. A longer term plan needs to be considered and put in place to ensure the viability and sustainability of the Mansion House for the future. For this reason, the Trustee continues to adopt the going concern basis in preparing the financial statements.
## **2.3 Income**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Page 9
Docusign Envelope ID: EBC8EB7F-C287-41EB-885B-0C4B73334B47
## **THE NEWCASTLE MANSION HOUSE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **2. Accounting policies (continued)**
## **2.4 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Charitable activities and Governance costs are costs incurred on the charity's charitable operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.
All expenditure is inclusive of irrecoverable VAT.
## **2.5 Tangible fixed assets and depreciation**
The Mansion House was gifted to the City of Newcastle "for the purpose of a Mansion House" and as such cannot be sold and therefore has no value.
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the statement of financial activities.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .
Depreciation is provided on the following bases:
- Fixtures and fittings 5 years Other fixed assets - 10 - 20 years
## **2.6 Investments**
Fixed asset investments including cash on deposit are recognised at their transaction cost.
Investments in subsidiaries are valued at cost less provision for impairment.
## **2.7 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Page 10
Docusign Envelope ID: EBC8EB7F-C287-41EB-885B-0C4B73334B47
## **THE NEWCASTLE MANSION HOUSE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **2. Accounting policies (continued)**
## **2.8 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
## **2.9 Financial instruments**
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **2.10 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustee in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Investment income, gains and losses are allocated to the appropriate fund.
## **3. Income from charitable activities**
|**Unrestricted**
**funds**
**2024**
**£**
Incoming resources from charitable activities
42,756
_Unrestricted_
_funds_
_2023_
_£_
Incoming resources from charitable activities
_29,036_|**Total**
**funds**
**2024**
**£**
**42,756**|
|---|---|
||_Total_
_funds_
_2023_
_£_
_29,036_|
Page 11
Docusign Envelope ID: EBC8EB7F-C287-41EB-885B-0C4B73334B47
## **THE NEWCASTLE MANSION HOUSE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **4. Investment income**
|**Unrestricted**
**funds**
**2024**
**£**
Investment income
17,664
_Unrestricted_
_funds_
_2023_
_£_
Investment income
_17,874_|**Total**
**funds**
**2024**
**£**
**17,664**|
|---|---|
||_Total_
_funds_
_2023_
_£_
_17,874_|
## **5. Analysis of expenditure on charitable activities**
## **Summary by fund type**
|**Unrestricted**
**funds**
**2024**
**£**
Expenditure on charitable activities
171,775
_Unrestricted_
_funds_
_2023_
_£_
Expenditure on charitable activities
_174,394_|**Total**
**2024**
**£**
**171,775**|
|---|---|
||_Total_
_2023_
_£_
_174,394_|
Page 12
Docusign Envelope ID: EBC8EB7F-C287-41EB-885B-0C4B73334B47
## **THE NEWCASTLE MANSION HOUSE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **6. Analysis of expenditure by activities**
|Expenditure on charitable activities
Expenditure on charitable activities|**Activities**
**undertaken**
**directly**
**2024**
**£**
141,914
_Activities_
_undertaken_
_directly_
_2023_
_£_
_158,780_|**Support**
**costs**
**2024**
**£**
29,861
_Support_
_costs_
_2023_
_£_
_15,614_|**Total**
**funds**
**2024**
**£**
**171,775**|
|---|---|---|---|
||||_Total_
_funds_
_2023_
_£_
_174,394_|
## **Analysis of direct costs**
|Staff costs
Depreciation
Property repairs and maintenance
Heat and light
Rates and water
Other property costs
Recharged to trading subsidiary|**Activities**
**2024**
**£**
47,531
9,189
59,725
46,690
1,430
693
(23,344)
141,914|**Total**
**funds**
**2024**
**£**
**47,531**
**9,189**
**59,725**
**46,690**
**1,430**
**693**
**(23,344)**|
|---|---|---|
|||**141,914**|
Page 13
Docusign Envelope ID: EBC8EB7F-C287-41EB-885B-0C4B73334B47
## **THE NEWCASTLE MANSION HOUSE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **6. Analysis of expenditure by activities (continued)**
## **Analysis of direct costs (continued)**
|Staff costs
Depreciation
Property repairs and maintenance
Heat and light
Rates and water
Other property costs
Recharged to trading subsidiary|_Activities_
_2023_
_£_
_52,005_
_9,189_
_65,155_
_37,233_
_10,267_
_1,141_
_(16,210)_
_158,780_|_Total_
_funds_
_2023_
_£_
_52,005_
_9,189_
_65,155_
_37,233_
_10,267_
_1,141_
_(16,210)_|
|---|---|---|
|||_158,780_|
## **Analysis of support costs**
|Support costs
Governance costs
Support costs
Governance costs|**Activities**
**2024**
**£**
7,440
22,421
29,861
_Activities_
_2023_
_£_
_7,339_
_8,275_
_15,614_|**Total**
**funds**
**2024**
**£**
**7,440**
**22,421**|
|---|---|---|
|||**29,861**|
|||_Total_
_funds_
_2023_
_£_
_7,339_
_8,275_|
|||_15,614_|
Page 14
Docusign Envelope ID: EBC8EB7F-C287-41EB-885B-0C4B73334B47
## **THE NEWCASTLE MANSION HOUSE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **7. Independent examiner's remuneration**
||**2024**|_2023_|
|---|---|---|
||**£**|_£_|
|Fees payable to the Charity's independent examiner for the preparation|||
|and independent examination of the Charity's annual accounts|**1,750**|_1,750_|
## **8. Staff costs**
|Wages and salaries
Social security costs
Contribution to defined contribution pension schemes|**2024**
**£**
**46,988**
**543**
**-**
**47,531**|_2023_
_£_
_51,633_
_146_
_226_|
|---|---|---|
||||
|||_52,005_|
The average number of persons employed by the Charity during the year was as follows:
||**2024**|_2023_|
|---|---|---|
||**No.**|_No._|
|Administration|**1**|_1_|
The charitable trust has one employee but also incurs a recharge of staff costs of £34,038 (2023 : £46,482) from Newcastle City Council.
No employee received remuneration amounting to more than £60,000 in either year.
## **9. Trustee's remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2023 - £NIL)_ .
During the year ended 31 March 2024, no Trustee expenses have been incurred _(2023 - £NIL)_ .
Page 15
Docusign Envelope ID: EBC8EB7F-C287-41EB-885B-0C4B73334B47
## **THE NEWCASTLE MANSION HOUSE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **10. Tangible fixed assets**
|**Cost or valuation**
At 1 April 2023
At 31 March 2024
**Depreciation**
At 1 April 2023
Charge for the year
At 31 March 2024
**Net book value**
At 31 March 2024
_At 31 March 2023_
**11.**
**Fixed asset investments**
**Cost or valuation**
At 1 April 2023
At 31 March 2024
**Net book value**
At 31 March 2024
_At 31 March 2023_|**Fixtures and**
**fittings**
**£**
**133,628**
**133,628**
**133,628**
**-**
**133,628**
**-**
_-_
**Investments**
**in**
**subsidiary**
**companies**
**£**
**1**
**1**
**1**
_1_|**Other fixed**
**assets**
**£**
**224,393**
**224,393**
**166,312**
**9,189**
**175,501**
**48,892**
_58,081_
**Other fixed**
**asset**
**investments**
**£**
**181,544**
**181,544**
**181,544**
_181,544_|**Total**
**£**
**358,021**|
|---|---|---|---|
||||**358,021**|
||||**299,940**
**9,189**|
||||**309,129**|
||||**48,892**|
||||_58,081_|
||||**Total**
**£**
**181,545**|
||||**181,545**|
||||**181,545**|
||||_181,545_|
Page 16
Docusign Envelope ID: EBC8EB7F-C287-41EB-885B-0C4B73334B47
## **THE NEWCASTLE MANSION HOUSE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **11. Fixed asset investments (continued)**
The Charitable Trust controls and owns Newcastle Mansion House Trading Limited (company number 09839915). The subsidiary is 100% owned by the Newcastle Mansion House Trust with £1 of ordinary share capital held in the name of the Newcastle Mansion House Trustee, Newcastle City Council.
The subsidiary company's principal place of business is The Mansion House, Fernwood Road, Jesmond, Newcastle upon Tyne, NE2 1TJ and its principal activity is that of the Provision of the Mansion House for external events.
For the year ended 31st March 2024 the subsidiary had total income of £126,801, total expenditure of £96,329 resulting in a profit for the year of £30,472 and net assets of £22,106.
## **12. Debtors**
|**Due after more than one year**
Due from unrestricted funds
**Due within one year**
Amounts owed by group undertakings
Due from unrestricted funds|**2024**
**£**
**29,096**
**29,096**
**27,000**
**54,041**
**110,137**|_2023_
_£_
_33,253_|
|---|---|---|
|||_33,253_
_3,656_
_49,884_|
||||
|||_86,793_|
## **13. Creditors: Amounts falling due within one year**
|City of Newcastle upon Tyne
Due to permanent endowment fund
Accruals and deferred income
**Creditors: Amounts falling due after more than one year**
Due to permanent endowment fund|**2024**
**£**
**1,132,189**
**54,041**
**5,640**
**1,191,870**
**2024**
**£**
**29,096**|_2023_
_£_
_1,005,117_
_49,884_
_7,202_|
|---|---|---|
||||
|||_1,062,203_|
|||_2023_
_£_
_33,253_|
## **14. Creditors: Amounts falling due after more than one year**
Page 17
Docusign Envelope ID: EBC8EB7F-C287-41EB-885B-0C4B73334B47
## **THE NEWCASTLE MANSION HOUSE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **15. Statement of funds**
|**Statement of funds - current year**
**Balance at 1**
**April 2023**
**£**
**Unrestricted funds**
General Funds
**(1,033,718)**
**Endowment funds**
Endowment Funds - all funds
**264,681**
**Total of funds**
**(769,037)**
**Statement of funds - prior year**
_Balance at_
_1 April 2022_
_£_
**Unrestricted funds**
General Funds
_(906,234)_
**Endowment funds**
Endowment Fund
_264,681_
**Total of funds**
_(641,553)_|**Income**
**£**
**Expenditure**
**£**
**60,420**
**(171,775)**
**-**
**-**
**60,420**
**(171,775)**
_Income_
_£_
_Expenditure_
_£_
_46,910_
_(174,394)_
_-_
_-_
_46,910_
_(174,394)_|**Balance at**
**31 March**
**2024**
**£**
**(1,145,073)**
**264,681**
**(880,392)**
_Balance at_
_31 March_
_2023_
_£_
_(1,033,718)_
_264,681_
_(769,037)_|
|---|---|---|
Page 18
Docusign Envelope ID: EBC8EB7F-C287-41EB-885B-0C4B73334B47
## **THE NEWCASTLE MANSION HOUSE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **16. Analysis of net assets between funds**
## **Analysis of net assets between funds - current period**
|Tangible fixed assets
Fixed asset investments
Debtors due after more than one year
Current assets
Creditors due within one year
Creditors due in more than one year
**Total**
**Analysis of net assets between funds - prior period**
Tangible fixed assets
Fixed asset investments
Debtors due after more than one year
Current assets
Creditors due within one year
Creditors due in more than one year
**Total**|**Endowment**
**funds**
**2024**
**Unrestricted**
**funds**
**2024**
**£**
**£**
-
48,892
181,544
1
29,096
-
54,041
27,000
-
(1,191,870)
-
(29,096)
264,681
(1,145,073)
_Endowment_
_funds_
_2023_
_Unrestricted_
_funds_
_2023_
_£_
_£_
_-_
_58,081_
_181,544_
_1_
_33,253_
_-_
_49,884_
_3,656_
_-_
_(1,062,203)_
_-_
_(33,253)_
_264,681_
_(1,033,718)_|**Total**
**funds**
**2024**
**£**
**48,892**
**181,545**
**29,096**
**81,041**
**(1,191,870)**
**(29,096)**
**(880,392)**
_Total_
_funds_
_2023_
_£_
_58,081_
_181,545_
_33,253_
_53,540_
_(1,062,203)_
_(33,253)_
_(769,037)_|
|---|---|---|
Page 19
Docusign Envelope ID: EBC8EB7F-C287-41EB-885B-0C4B73334B47
## **THE NEWCASTLE MANSION HOUSE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **17. Related party transactions**
The administration of the Trust is carried out by the Resources Directorate of Newcastle City Council. The cost for these support services in 2023/24 was £43,211 (2022/23: £41,786). The support services include Accountancy, Organisation Development, Legal, Audit, Financial System Support and other Central Administration Support.
In addition to the above, Newcastle City provided direct services of £39,831 (2022/23 £34,052).
Included in the income of the Mansion House Trust is £42,756 (2022/23 : £29,036) from Newcastle City Council which made a contribution of £12,360 (2022/23 : £12,360) in addition to charges for the use as a Mansion House.
An amount of £1,132,189 (2023: £1,005,117) was owed to Newcastle City Council at 31/03/2024 which is included in creditors falling due within one year.
The charitable trust has cash on deposit amounting to £181,544 (2023: £181,544) which is held by Newcastle City Council.
An amount of £27,000 (2023: £3,656) was owed from Newcastle Mansion House Trading Limited to the charity at the year end and is included in debtors.
## **18. Controlling party**
The City of Newcastle upon Tyne, as the sole Trustee, is the controlling party of the Newcastle Mansion House Trust.
## **19. Principal subsidiaries**
The following was a subsidiary undertaking of the Charity:
|**Name**||**Company**|**Principal activity**|**Principal activity**|**Class of**|
|---|---|---|---|---|---|
|||**number**|||**shares**|
|Newcastle Mansion House Trading Limited||09839915|09839915||ordinary|
|The financial results of the subsidiary for the|year were:|||||
|**Name**|**Income**|**Expenditure**||**Profit for**|**Net assets**|
||**£**||**£**|**the year**|**£**|
|||||**£**||
|Newcastle Mansion House Trading|**126,801**|**96,329**||**30,472**|**22,106**|
|Limited||||||
Page 20