Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
**Charity number: 511314**
## **NORTHUMBRIA HISTORIC CHURCHES TRUST**
## **TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 JANUARY 2025**
Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
## **NORTHUMBRIA HISTORIC CHURCHES TRUST**
## **CONTENTS**
||Page|
|---|---|
|**Reference and Administrative Details of the Charity, its Trustees and Advisers**|1 - 2|
|**Trustees' Report**|3 - 10|
|**Independent Auditors' Report on the Financial Statements**|11 - 14|
|**Statement of Financial Activities**|15|
|**Balance Sheet**|16|
|**Notes to the Financial Statements**|17 - 33|
Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
## **NORTHUMBRIA HISTORIC CHURCHES TRUST**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JANUARY 2025**
## **Trustees**
John Anderson, Chair Dr Margaret Stewart, Deputy Chair (resigned 24 October 2024) David Harris (appointed 24 October 2024) George William Heslop Martin Hulse (appointed 24 October 2024) Laurie McLeman The Rev Canon Robert McTeer (resigned 24 October 2024) Dennis Parker Joanna Pullan, Assistant Hon Treasurer Matthew Alexander Pentti Sinclair, Hon Treasurer Leanne Tindle (appointed 24 October 2024) Edward Tulasiewicz Elizabeth Mary Walford Rev Christopher Wardale (resigned 5 March 2025) John Waugh MBE (appointed 24 October 2024)
## **Charity registered number**
511314
## **Principal office**
7 Strothers Road High Spen Tyne and Wear NE39 2HR
## **Secretary**
Mark Allison
## **Independent auditors**
Kinnair Associates Limited Chartered Accountants Aston House Redburn Road Newcastle upon Tyne NE5 1NB
## **Bankers**
Barclays Bank Hexham Northumberland
COIF Charity Funds One Angel Lane London EC4R 3AB
Page 1
Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
## **NORTHUMBRIA HISTORIC CHURCHES TRUST**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025**
## **Investment Advisers**
RBC Brewin Dolphin Limited Time Central Gallowgate Newcastle upon Tyne NE1 4SR
Rathbones 8 Finsbury Circus London EC2M 7AZ
Page 2
Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
## **NORTHUMBRIA HISTORIC CHURCHES TRUST**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 JANUARY 2025**
The Trustees present their annual report together with the audited financial statements of the Charity for the year from 1 February 2024 to 31 January 2025.
## **Objectives and activities**
## **Policies and objectives**
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
The objectives of the Trust are to apply its income and capital for the preservation, repair, maintenance, improvement, upkeep, beautification and reconstruction of churches in Northumbria and of monuments, fittings, fixtures, stained glass, furniture, ornaments and chattels in such churches so as to maintain them for the benefit and enjoyment of future generations.
Agreed priorities of funding dictate that offers are normally restricted to churches with urgent structural repair needs and which can also demonstrate financial need and are regularly open for public worship. All the decisions on grant offers are made by a full meeting of Trustees, in accordance with grant making policies. These are publicly available, through the Trust’s website or by contact with the Secretary or any of the Trustees. The Trust raises awareness of its activities amongst potential recipients through its website, occasional press releases and contacts with ministers and church officers.
In furtherance of its objectives the Trust liaises with the National Churches Trust to exchange and promote best practice while remaining independent of the National Churches Trust.
## **Strategies for achieving objectives**
A Strawman paper was produced by the Chair to address several issues arising from changes that required making, following receipt of a couple of legacies, which has enabled it to substantially increase the number and size of grants it is prepared to offer. Such largesse has also entailed the necessity to continue upgrading rules and procedures that ensure regulatory compliance is fully satisfied, along with protecting the Trustees. This Paper was discussed by the Board of Trustees at a Strategy Review day, convened on Wednesday 17 January 2024, that resulted in a number of decisions being taken in that respect; some of which are outlined below .
## **Grant-making policies**
Grant applications will now be assessed over three funding rounds held at four monthly intervals, The size of grant will depend on an assessment of merit and need; if awarded, it will be typically within a range of £2,000£10,000.Churches will ordinarily be considered once in every three years for a grant; only in very exceptional and unforeseen circumstances will one be considered outside of this time frame. The Chair and Vice Chair have been empowered to award an emergency grant of up to £2,500 at their discretion and by way of report at the following Board meeting; any sum sum in excess of this amount would necessitate Trustee approval out of committee. The overall intention being to ensure helping the many, rather than the few, albeit with smaller grants; such grants to be perceived as being ‘Fair. Proportionate, Sustainable and achieve Impact’.
## **Volunteers**
Those Trustees who are office holders carry out their duties on a purely voluntary basis.
Page 3
Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
## **NORTHUMBRIA HISTORIC CHURCHES TRUST**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025**
## **Objectives and activities (continued)**
## **Main activities undertaken to further the Charity's purposes for the public benefit**
As will be appreciated from last year's Annual Report, the 2023 Strategy Meeting made the decision that grant making policies should be perceived as fair, proportionate, sustainable and achieve impact; in essence grants were restricted to a range of £2,500 to £10,000, applications only once in every three years (unless exceptional circumstances prevailed to warrant further consideration) and subject to various eligibility criteria agreed by the Board. 2024 has seen the implementation of such decisions and it is pleasing to report that these have worked well for both the Charity and beneficiaries. Out of a budget of £315,000 it is worth recording some £262,000 in grants was awarded. By virtue of the Charity wanting to remain financially sustainable for some 30 years, the treasurer proposed a budget of £250,000 going forward into 2025. The Charity has also been very busy drawing up and implementing a CIO; though this is now in force, the transfer of assets still remains to be effected; the issue being of opening a new bank account. In common with a lot of other charities’ experience, this continues to be a burdensome task.
Apart from that, the main difficulty encountered has centred around outreach to potential beneficiaries and their ability to submit an application that contains the information required; so much depends on them having people with sufficient expertise and time to compile them. To that end, the Secretary has been involved with helping potential beneficiaries in the task; along with the Charity now directly liaising with the Church Buildings’ Support Officers from the dioceses of Newcastle and Durham. Their combined involvement has led to the successful submission of several applications that would likely not have materialised. However, more work is required by way of marketing; this has and continues to occupy the trustees’ minds.
## **Achievements and performance**
## **Review of activities**
With the assistance of Muckles, the appointed solicitors, a Charitable Incorporated Organisation was set up for the future operations of the Trust, updating governance arrangements and better suited to administering the substantial Bishop Alec legacy. This is in the final stages of opening bank accounts to allow asset transfer documentation to go forward to the Charity Commission, at which time it will be used actively.
Rathbones and RBC Brewin Dolphin remain as Fund Managers; though no presentations have been made to the Trustees, regular reports as to performance have been received from both and these have been scrutinised by one of our number who is a professional Wealth Manager. During 2024 both Fund Managers will report in person. Mark Allison continues in post as Secretary.
## **Investment policy and performance**
The Trustees have adopted a total return investment approach to generate a combination of income and capital growth. The Charity intends to be a long term investor and on taking professional advice holds a diversified portfolio of listed investments with a view to maintaining the real value of the investment portfolio while providing income for the charity’s grant funding activities.
Page 4
Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
## **NORTHUMBRIA HISTORIC CHURCHES TRUST**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025**
## **Achievements and performance (continued)**
The Trustees have agreed a suitable asset allocation framework with the Investment Managers. Presently the following investment parameters on asset class concentration should be applied:
|Asset Class|Minimum|Maximum|
|---|---|---|
|Fixed Income
|5%
|15%|
|UK Equities|5%
|65%|
|Overseas Equities|5%
|65%|
|Alternatives|5%
|25%|
|Cash|0%
|10%|
Total equity exposure should not exceed 90% of the Charity’s assets.
The investment assets must be readily realisable. The Trustees would not, unless specific authorisation is given, wish to acquire investments in markets where marketability is limited.
An investment in any single company should not exceed 5% of the Charity’s assets.
The Trustees seek to refrain from directly investing in companies that are wholly or mainly involved in the manufacture or production of: indiscriminate weaponry, conventional weaponry, pornographic material, tobacco, gambling, non- military firearms, high interest rate lending, human embryonic cloning, extraction of thermal coal and production of oil from oil sands.
## **Brewin Dolphin portfolio performance and commentary**
Over the year the portfolio gained 16.80% on a time-weighted basis compared to a rise in the RBC Brewin Dolphin Risk Category 7 benchmark of 19.75%. Over the same period the Morningstar UK All Cap Index gained 17.76%, the Morningstar Global ex UK Index rose 23.38%, and the Morningstar UK Gilt Index fell 0.9%.
At the start of 2024, inflation was high and interest rates had risen to address that. Consumers were caught between high borrowing costs and squeezed disposable incomes and a Bloomberg survey showed that 50% of economists believed that there was a strong possibility that the US would face a recession.
As the year progressed, however, inflation fell, wages rose enough to maintain consumer spending levels, and, combined with the high cash balances held following government COVID payments (and perhaps, lower costs from being able to work from home) this broadly continued to drive growth over the year. The same survey stood at just 20% at the end of 2024 with the US economy proving to be much more resilient than many forecasts.
Global equities continued to make new highs supported by the resilience in the US and the increasing prospects of a ‘soft landing’. There was a clear divergence in US and Eurozone market performances and, while the S&P 500 and NASDAQ Composite indexes reached record highs as investors continued piling into tech stocks, Europe ended barely in the black.
Momentum did stall in the latter half of July and, after the global ‘Crowdstrike’ outage, investors began to look for alternative ways of playing the spread of artificial intelligence (AI). August was also something of a rollercoaster ride as, with inflation concerns falling, a US employment report came in below forecasts for only the fifth time in the previous two years. The possibility of a US recession became a greater concern and was initially thought to be the catalyst for the sell-off in technology stocks. However, with US rates set to decline the (fairly long running) dollar/Yen carry trade became less attractive and, in early August, the yen started to appreciate very fast. This put pressure on investors being squeezed out of the trade to reduce positions and the Japanese TOPIX index fell a stunning 12% in a single session. The knock-on effects were felt across global markets and the gains made by semi-conductor and AI-related stocks were particularly targeted.
Page 5
Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
## **NORTHUMBRIA HISTORIC CHURCHES TRUST**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025**
## **Achievements and performance (continued)**
From the beginning of November, the action was dominated by the US presidential election. The reaction to the results was largely intuitive, and equities generally benefited reflecting the prospect of less regulation and potentially lower taxes. However, the erratic nature of President Trump warranted an increased premium for risky assets and the imposition of tariffs, which could reduce global growth and re-fuel inflation, saw treasury yields rise sharply.
It was always likely to be a lively start to 2025, with the inauguration of the most unorthodox US president in living history, but major markets performed well in January. Even so, the performance of the US equity market had been broadening out since the election in November and, although 2024 had been a strong year for the ‘Magnificent Seven’ mega-cap stocks, the month saw the group lose further ground against the wider market.
Annual performance has been held back by infrastructure and property, as bond yields have remained stubbornly high, and these are areas that make a significant contribution to income. The portfolio has benefited from its technology exposure, and a rise in gold, but the heavy weighting to technology sectors in the benchmark - the so-called ‘Magnificent 7’ make up around 35% of the US S&P 500 index - makes it very difficult for a balanced portfolio to match those gains in the ‘bull’ market seen over the year. Nevertheless, the portfolio gained 17%, including income, over the year compared to a 20% return from the Risk Category 7 benchmark.
## **Rathbones portfolio performance and commentary**
The assets managed by Rathbones are invested in a segregated portfolio containing fixed income securities, UK and overseas equities and alternative assets.
The performance of the portfolio over the longer term is monitored against the Consumer Price Index + 3.5% per annum net of all fees.
As at 31st January 2025 the portfolio was valued at £2,395,933 and the asset split was as follows: -
**Asset Class % of Assets** Fixed Income 11.8% Equities (including listed Private Equity Funds) 82.5% Alternatives 4.8% Cash 0.9% **TOTAL 100.0%**
The portfolio generated a total return of 11.0% net of all fees for the 12-month period to 31st January 2025, compared to the wider charity peer group, as measured by the ARC Charity Steady Growth Index, of 12.0%. The estimated annual income yield from the portfolio was 2.7% at year end.
At the start of the year, investors anticipated a challenging investment year. As well as the war in Ukraine and the Middle East, we faced elections in many countries including the US and the UK. However, whilst equity returns have differed across the world, they have been broadly very positive, driven by the significant development of central bankers to start cutting interest rates. Once again the US was the stand out performer with market returns to a sterling investor of +30%. This was mainly driven by the ‘magnificent 7 stocks’, which consists of the largest technology shares in the US. Meanwhile, the return from UK equities were lower than their US counterparts but still very strong at +17.1%.
Page 6
Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
## **NORTHUMBRIA HISTORIC CHURCHES TRUST**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025**
## **Achievements and performance (continued)**
The election of Donald Trump in November for a second, non-consecutive term, seems to have been a positive catalyst for the US market in spite of threats of trade tariffs and concern with the ever-expanding budget deficit. In the UK, the market’s response to the new government’s first budget and other government initiatives could be seen by the steep rise in UK government bond yields. In a similar fashion US Treasury yields have also risen, mainly as concern is rising that something will need to be done about the US budget deficit. Fortunately, inflation was fairly subdued at year end although once again economists are talking about the dreaded stagflation. At we look forward, whilst we recognise the uncertainty surrounding President elect Trump’s return to the Oval Office and continued geo-political tensions, we note that the global economy and corporate earnings continue to be reasonably resilient. Despite shorter term uncertainties, as we look ahead over the medium-term, equities are set to remain as the core engine of portfolio.
## **Financial review**
## **Overview**
The income of the Charity for the year amounted to £456,054 (2024: £1,502,728) including legacies of £351,163 (2024: £1,413,219). Grants and expenditure amounted to £240,061 (2024: £268,859) giving a surplus of £215,993 (2024: £1,233,869) before taking account of gains/losses on investments.
## **Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they 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.
## **Reserves policy**
The Trustees have sufficient assets in order to meet the operation expenses, grants offered and the proposed grant making budget.
The Trustees intend to hold a substantial proportion of these reserves in listed investments with a view to achieving both an investment income stream and capital appreciation. The Trustees understand that investing to achieve returns of a meaningful margin over inflation will result in the capital value of the investments fluctuating from time to time.
The Trustees are prepared to tolerate some volatility in the capital value of the Charity's investable assets provided that the Charity meets its grant making commitments, either by way of income generated by investments or the realisation of investments.
The balance sheet as of 31st January 2025 shows total unrestricted funds of £5,072,892 (2024: £4,318,136).
Page 7
Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
## **NORTHUMBRIA HISTORIC CHURCHES TRUST**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025**
## **Principal risks and uncertainties**
The Trustees regularly review the major risks, to which the Charity may be exposed, particularly those relating to the operation and finances of the Charity.
The key risk to the long-term achievement of the Charity’s objective is considered to be inflation so assets are invested accordingly with a sizeable allocation in equities, where dividends can be expected to grow but capital value will fluctuate.
## **Financial risk management objectives and policies**
The Trustees have appointed two investment managers to manage the investment assets on a discretionary basis in line with the Investment Policy which is expected to mitigate the long term effects of inflation while allowing the Trustees to continue their grant making activities for the public benefit.
The Investment Policy, which will be reviewed every three years, will provide the Investment Managers with a framework for the management of the Charity’s investments.
The investment managers are required to present a report on investment performance and future expectations at least annually.
## **Principal funding**
The Charity has received another generous legacy and in the absence of any specific instruction, this will be added the Charity’s Investments, the proceeds of which will be spent in pursuit of the Charity’s objectives. As such legacies and donations provide a valuable source of income, this is an area that it will seek to encourage going forward, given the trustees forecast that the long- term needs of beneficiaries will continue to exceed the funds available.
## **Structure, governance and management**
## **Constitution**
Northumbria Historic Churches Trust is a registered charity, number 511314, and is constituted under a Trust deed.
## **Methods of appointment or election of Trustees**
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
We advertise for specific skills and have a general openness to applications to join us. The first step in the appointing process is also the start of induction: an informal discussion with the Chair to confirm a suitable fit. If both parties are positive, then the applicant is interviewed by two or more Trustees. If still positive the nomination is put to the full board of Trustees for approval. Once this has been achieved references are taken up. Governance arrangements for appointment and retirement of Trustees have been updated in the Charitable Incorporated Organisation that has been set up.
Page 8
Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
## **NORTHUMBRIA HISTORIC CHURCHES TRUST**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025**
## **Structure, governance and management (continued)**
## **Organisational structure and decision-making policies**
All the positions below are being subjected to review by the Chair and discussion with the individuals as to their continuance and relevance; currently they are:
The patron of the Trust is the Duke of Northumberland
The Trust has three presidents: The Bishop of Durham The Bishop of Newcastle The Bishop of Hexham and Newcastle
The Vice presidents are: The Rt Hon The Lord Beith Mrs Sue Snowdon Lord Lieutenant of Durham The Duchess of Northumberland Lord Lieutenant of Northumberland Mrs Susan Winfield OBE Lord Lieutenant of Tyne and Wear to 18 May 2022 Mrs Lucy Winskell Lord Lieutenant of Tyne and Wear from 18 May 2022 The Lord Vinson LVO DL
The role of Patron, Presidents and Vice-Presidents was reviewed during the year and individuals consulted on the way forward. A simpler structure has resulted and is reflected in the governance arrangements in the Charitable Incorporated Organisation that has been set up.
## **Policies adopted for the induction and training of Trustees**
The Induction process starts with the appointing process. Once appointed the new Trustee is given a copy of our Trust Deed and the previous year’s Trustees Report and Financial Statements. Further explanations are then achieved at our meetings.
## **Financial risk management**
The Trustees have conducted a review of the major risks to which the Charity is exposed and systems have been established to mitigate those risks including the implementation of procedures for authorisation of all transactions and projects and for ensuring the consistent quality of the delivery of all operational aspects of the charity. These procedures are periodically reviewed to ensure that they still meet the needs of the charity.
## **Plans for future periods**
With the final amounts from The Bishop and Sewell bequest determined as final properties are sold Trustees were able to define an overall Financial Policy that encompasses capital preservation and income generation that ensure a sustainable grant making budget and meet expenses going forward.
Page 9
Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
## **NORTHUMBRIA HISTORIC CHURCHES TRUST**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025**
## **Statement of Trustees' responsibilities**
The Trustees are responsible for preparing the Trustees' 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 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 its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees 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.
The Trustees 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.
## **Disclosure of information to auditors**
Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:
- so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and
- that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information.
## **Auditors**
The auditors, Kinnair Associates Limited, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.
Approved by order of the members of the board of Trustees on 5 November 2025 and signed on their behalf by:
**John Anderson** Chair of Trustees
Page 10
Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
## **NORTHUMBRIA HISTORIC CHURCHES TRUST**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF NORTHUMBRIA HISTORIC CHURCHES TRUST**
## **Opinion**
We have audited the financial statements of Northumbria Historic Churches Trust (the 'charity') for the year ended 31 January 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, 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, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards 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.
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.
## In our opinion the financial statements:
- give a true and fair view of the state of the charity's affairs as at 31 January 2025 and of its incoming resources and application of resources for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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.
Page 11
Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
## **NORTHUMBRIA HISTORIC CHURCHES TRUST**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF NORTHUMBRIA HISTORIC CHURCHES TRUST (CONTINUED)**
## **Other information**
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual Report. 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. 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 course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
- the information given in the Trustees' Report is inconsistent in any material respect with the financial statements; or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of Trustees**
As explained more fully in the Trustees' Responsibilities Statement, 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.
Page 12
Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
## **NORTHUMBRIA HISTORIC CHURCHES TRUST**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF NORTHUMBRIA HISTORIC CHURCHES TRUST (CONTINUED)**
## **Auditors' responsibilities for the audit of the financial statements**
We have been appointed as auditor 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 an Auditors' Report 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the Charity through discussions with Trustees and other management, and from our commercial knowledge and experience of the charity sector;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Charity, including the Charities Act 2011 et seq., the Charities (Protection and Social Investment) Act 2016, the Trustees Acts 1925 and 2000 and Charity Commission regulation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
- we ensured that the identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the Charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: -
- making enquiries of management as to where they considered there was susceptibility to fraud and their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we: -
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions; and
- assessed whether judgements and assumptions made in determining the accounting estimates set out in the notes to the financial statements were indicative of potential bias.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: -
- agreeing financial statement disclosures to underlying supporting documentation;
- reading the minutes of meetings of those charged with governance;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC, relevant regulators and the Charity’s legal advisors.
Page 13
Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
## **NORTHUMBRIA HISTORIC CHURCHES TRUST**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF NORTHUMBRIA HISTORIC CHURCHES TRUST (CONTINUED)**
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the Trustees and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or 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 Auditors' Report.
## **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 its Trustees as a body for our audit work, for this report, or for the opinions we have formed.
**Kinnair Associates Limited** Chartered Accountants Statutory Auditor Aston House Redburn Road Newcastle upon Tyne NE5 1NB
6 November 2025
Kinnair Associates Limited are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
Page 14
Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
## **NORTHUMBRIA HISTORIC CHURCHES TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2025**
|**Note**
**Income from:**
Donations and legacies
3
Investments
4
**Total income**
**Expenditure on:**
Raising funds
5
Charitable activities
8
**Total expenditure**
**Net income before net gains on investments**
Net gains on investments
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2025**
**£**
**351,998**
**104,056**
**456,054**
**31,888**
**208,173**
**240,061**
**215,993**
**533,763**
**749,756**
**4,323,136**
**749,756**
**5,072,892**|**Total**
**funds**
**2025**
**£**
**351,998**
**104,056**
**456,054**
**31,888**
**208,173**
**240,061**
**215,993**
**533,763**
**749,756**
**4,323,136**
**749,756**
**5,072,892**|_Total_
_funds_
_2024_
_£_
_1,414,104_
_88,624_|
|---|---|---|---|
||||_1,502,728_|
||||_28,685_
_235,174_|
||||_263,859_|
||||_1,238,869_
_124,992_|
||||_1,363,861_|
||||_2,959,275_
_1,363,861_|
||||_4,323,136_|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 17 to 33 form part of these financial statements.
Page 15
Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
## **NORTHUMBRIA HISTORIC CHURCHES TRUST**
## **BALANCE SHEET AS AT 31 JANUARY 2025**
||||**2025**|**2025**||_2024_|_2024_|
|---|---|---|---|---|---|---|---|
||**Note**||**£**|||_£_||
|**Fixed assets**||||||||
|Intangible assets|12||**3,456**|||_5,184_||
|Tangible assets|13||**134**|||_312_||
|Investments|14||**5,150,849**|||_4,393,749_||
||||**5,154,439**|||_4,399,245_||
|**Current assets**||||||||
|Debtors|15|**5,629**|||_4,789_|||
|Cash at bank and in hand||**74,076**|||_75,876_|||
|||**79,705**|||_80,665_|||
|**Current liabilities**||||||||
|Creditors: amounts falling due within one||||||||
|year|16|**(161,252)**|||_(156,774)_|||
|**Net current liabilities**|||**(81,547)**|||_(76,109)_||
|**Total assets less current liabilities**|||**5,072,892**|||_4,323,136_||
|**Net assets excluding pension asset**|||**5,072,892**|||_4,323,136_||
|**Total net assets**|||**5,072,892**|||_4,323,136_||
|**Charity funds**||||||||
|Unrestricted funds|19||**5,072,892**|||_4,323,136_||
|**Total funds**|||**5,072,892**|||_4,323,136_||
The financial statements were approved and authorised for issue by the Trustees on 05 November 2025 and signed on their behalf by:
## **John Anderson** Chair of Trustees
The notes on pages 17 to 33 form part of these financial statements.
Page 16
Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
## **NORTHUMBRIA HISTORIC CHURCHES TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025**
## **1. General information**
Northumbria Historic Churches Trust is a registered charity, number 511314. The charity is unincorporated and its principal office is 7 Strothers Road, High Spen, Rowlands Gill, Tyne and Wear, NE39 2HR.
## **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.
Northumbria Historic Churches 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.
## **2.2 Going concern**
The Charity reported total unrestricted funds at the year end of £5,071,028 and the majority of its expenditure is discretionary. The Trustees are of the view that the immediate future of the Charity for the next 12 to 18 months is secure and that on this basis the Charity is a going concern.
The financial statements have been prepared on a going concern basis. The Trustees have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. The Trustees have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.
Page 17
Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
## **NORTHUMBRIA HISTORIC CHURCHES TRUST**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025**
## **2. Accounting policies (continued)**
## **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.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Donated goods are measured at fair value (the amount for which the asset could be exchanged) unless impractical to do so.
Donated services and facilities are included in the SoFA when received at the value of the gift to the charity provided that the value of the gift can be measured reliably. Donated services and facilities that are consumed immediately are recognised as income with the equivalent amount recognised as an expense under the appropriate heading in the SoFA.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
The value of volunteer help received is not included in the accounts but is described in the Trustees' annual report.
## **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.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Page 18
Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
## **NORTHUMBRIA HISTORIC CHURCHES TRUST**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025**
## **2. Accounting policies (continued)**
## **2.4 Expenditure (continued)**
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
## **2.5 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **2.6 Intangible assets and amortisation**
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.
Amortisation is provided on the following basis:
Website development - 25 % straight line
## **2.7 Tangible fixed assets and depreciation**
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
- Computer equipment 3 years
## **2.8 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities.
Investments held as fixed assets are shown at cost less provision for impairment.
Page 19
Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
## **NORTHUMBRIA HISTORIC CHURCHES TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025**
## **2. Accounting policies (continued)**
## **2.9 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.
## **2.10 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **2.11 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.
## **2.12 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.
## **2.13 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees 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 donations and legacies**
|**Unrestricted**
**funds**
**2025**
**£**
Donations
835
Legacies
351,163
351,998|**Total**
**funds**
**2025**
**£**
**835**
**351,163**|
|---|---|
||**351,998**|
Page 20
Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
## **NORTHUMBRIA HISTORIC CHURCHES TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025**
## **3. Income from donations and legacies (continued)**
|Donations
Legacies|_Unrestricted_
_funds_
_2024_
_£_
_885_
_1,413,219_
_1,414,104_|_Total_
_funds_
_2024_
_£_
_885_
_1,413,219_|
|---|---|---|
|||_1,414,104_|
## **4. Investment income**
|**Unrestricted**
**funds**
**2025**
**£**
Income from listed investments
89,660
Interest receivable
14,396
104,056
_Unrestricted_
_funds_
_2024_
_£_
Income from listed investments
_75,097_
Interest receivable
_13,527_
_88,624_|**Total**
**funds**
**2025**
**£**
**89,660**
**14,396**|
|---|---|
||**104,056**|
||_Total_
_funds_
_2024_
_£_
_75,097_
_13,527_|
||_88,624_|
Page 21
Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
## **NORTHUMBRIA HISTORIC CHURCHES TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025**
## **5. Investment management costs**
|**Unrestricted**
**funds**
**2025**
**£**
Investment management fees
31,888
_Unrestricted_
_funds_
_2024_
_£_
Investment management fees
_28,685_
**Analysis of grants**
**Grants to**
**Institutions**
**2025**
**£**
Grants offered to churches (note 7)
185,627
_Grants to_
_Institutions_
_2024_
_£_
Grants offered to churches (note 7)
_219,366_|**Total**
**funds**
**2025**
**£**
**31,888**|
|---|---|
||_Total_
_funds_
_2024_
_£_
_28,685_|
||**Total**
**funds**
**2025**
**£**
**185,627**|
||_Total_
_funds_
_2024_
_£_
_219,366_|
## **6. Analysis of grants**
Page 22
Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
## **NORTHUMBRIA HISTORIC CHURCHES TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025**
## **7. Grants**
||**2025**|_2024_|
|---|---|---|
||**£**|_£_|
|Allendale St Cuthbert's|**5,000**|_-_|
|Alnmouth St John the Baptist|**(173)**|_4,100_|
|Ashington Holy Sepulchre|**-**|_5,000_|
|Bamburgh St Aidan's Church|**5,000**|_-_|
|Barnard Castle St Mary's|**-**|_5,000_|
|Bellingham St Cuthbert's|**-**|_7,500_|
|Benton St Andrew's|**-**|_7,326_|
|Benwell St James'|**-**|_25,000_|
|Bishopton St Peter's|**-**|_5,000_|
|Cambo Holy Trinity|**-**|_5,000_|
|Cullercoats St George's Church|**15,000**|_-_|
|Darlington St Andrew's Church|**10,000**|_-_|
|Darlington St Cuthbert's|**-**|_5,000_|
|Earsdon St Alban's Church|**10,000**|_-_|
|Easington St Mary's|**10,000**|_-_|
|Esh St Michael and All Angels|**-**|_5,000_|
|Felton St Michael and All Angels|**-**|_2,000_|
|Fenham St James' and St Basil's|**10,000**|_-_|
|Fourstones with Warden Methodist Church|**-**|_3,000_|
|Gateshead St Nicholas with Christ Church|**5,000**|_-_|
|Greatham Durham St John the Baptist|**-**|_10,000_|
|Heaton St Gabriel's|**-**|_20,000_|
|Hetton le Hole Methodist Church|**-**|_8,000_|
|Hexham Abbey|**-**|_10,000_|
|High Spen St Patrick's Church|**7,500**|_-_|
|Jesmond Holy Trinity|**-**|_5,000_|
|Jesmond St Hilda's Church|**10,000**|_-_|
|Killingworth St John's Church|**10,000**|_-_|
|Kirkharle St Wilfrid's Church|**10,000**|_-_|
|Kirkhaugh Holy Paraclete|**-**|_6,532_|
|Kirkwelpington St Bartholomew's Church|**5,000**|_-_|
|Leadgate St Ives|**10,000**|_-_|
|Low Warden St Michael and All Angels Church|**10,000**|_-_|
|Lowick St John the Baptist|**7,000**|_-_|
|Lucker St Hilda's|**-**|_8,000_|
|Marley Hill St Cuthbert's|**-**|_5,000_|
|Matfen Holy Trinity Church|**5,000**|_10,000_|
|Medomsley, Consett St Mary Magdalene Church|**-**|_2,258_|
|Morpeth St Mary the Virgin|**-**|_10,000_|
Page 23
Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
## **NORTHUMBRIA HISTORIC CHURCHES TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025**
|Netherwitton St Giles Church
Newcastle St Luke's
Ninebanks St Mark's Church
North Shields Christ Church
Otterburn Church of St John the Evangelist
Seaham St Hild and St Helen
Seaton Delaval The Church of Our Lady
Shieldfield Christ Church
Shotton Colliery St Saviour's
Simonburn St Mungo's
South Shields St Bede's Church
Stamfordham St Mary the Virgin
Stockton on Tees St Peter's
Wallsend St John the Evangelist
Wallsend St Luke the Evangelist
Westerhope St John's Church|**1,500**
**-**
**1,300**
**-**
**-**
**-**
**8,000**
**8,000**
**(5,000)**
**-**
**10,000**
**10,000**
**-**
**-**
**5,000**
**2,500**
**185,627**|_-_
_7,500_
_-_
_5,000_
_4,000_
_1,650_
_-_
_-_
_-_
_10,000_
_-_
_-_
_7,500_
_10,000_
_-_
_-_|
|---|---|---|
|||_219,366_|
## **8. Analysis of expenditure on charitable activities**
## **Summary by fund type**
|**Unrestricted**
**funds**
**2025**
**£**
Grants to churches
208,173
_Unrestricted_
_funds_
_2024_
_£_
Grants to churches
_235,174_|**Total**
**2025**
**£**
**208,173**|
|---|---|
||_Total_
_2024_
_£_
_235,174_|
Page 24
Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
## **NORTHUMBRIA HISTORIC CHURCHES TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025**
## **9. Analysis of expenditure by activities**
|Grants to churches
Grants to churches
**Analysis of support costs**
Depreciation
Insurance
IT costs
General administration
Financial administrator's and secretary's fees
Governance costs
Travel expenses
Donations to churches
Amortisation of intangible assets|**Grant**
**funding of**
**activities**
**2025**
**£**
185,627
_Grant_
_funding of_
_activities_
_2024_
_£_
_219,366_|**Support**
**costs**
**2025**
**£**
22,546
_Support_
_costs_
_2024_
_£_
_15,808_
**Grants to**
**churches**
**2025**
**£**
178
577
1,184
521
7,321
10,557
264
216
1,728
22,546|**Total**
**funds**
**2025**
**£**
**208,173**|
|---|---|---|---|
||||_Total_
_funds_
_2024_
_£_
_235,174_|
||||**Total**
**funds**
**2025**
**£**
**178**
**577**
**1,184**
**521**
**7,321**
**10,557**
**264**
**216**
**1,728**|
||||**22,546**|
Page 25
Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
## **NORTHUMBRIA HISTORIC CHURCHES TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025**
## **9. Analysis of expenditure by activities (continued)**
## **Analysis of support costs (continued)**
|Depreciation
Insurance
IT costs
General administration
Financial administrator's and secretary's fees
Governance costs
Travel expenses
Donations to churches
Amortisation of intangible assets|_Grants to_
_churches_
_2024_
_£_
_178_
_504_
_1,038_
_314_
_7,055_
_4,506_
_85_
_400_
_1,728_
_15,808_|_Total_
_funds_
_2024_
_£_
_178_
_504_
_1,038_
_314_
_7,055_
_4,506_
_85_
_400_
_1,728_|
|---|---|---|
|||_15,808_|
## **10. Auditors' remuneration**
||**2025**|_2024_|
|---|---|---|
||**£**|_£_|
|Fees payable to the Charity's auditor for the audit of the Charity's annual|||
|accounts|**3,500**|_3,350_|
|Fees payable to the Charity's auditor in respect of:|||
|All non-audit services not included above|**1,298**|_1,156_|
## **11. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2024 - £NIL)_ .
During the year ended 31 January 2025, expenses totalling £574 were reimbursed or paid directly to 2 Trustees _(2024 - £86_ ). These were for travel expenses and a trustees' lunch.
Page 26
Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
## **NORTHUMBRIA HISTORIC CHURCHES TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025**
|**12.**
**Intangible assets**
**Cost**
At 1 February 2024
At 31 January 2025
**Amortisation**
At 1 February 2024
Charge for the year
At 31 January 2025
**Net book value**
At 31 January 2025
_At 31 January 2024_|**Website**
**£**
**6,912**|
|---|---|
||**6,912**|
||**1,728**
**1,728**|
||**3,456**|
||**3,456**|
||_5,184_|
Page 27
Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
## **NORTHUMBRIA HISTORIC CHURCHES TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025**
## **13. Tangible fixed assets**
|**Cost or valuation**
At 1 February 2024
At 31 January 2025
**Depreciation**
At 1 February 2024
Charge for the year
At 31 January 2025
**Net book value**
At 31 January 2025
_At 31 January 2024_|**Computer**
**equipment**
**£**
**535**|
|---|---|
||**535**|
||**223**
**178**|
||**401**|
||**134**|
||_312_|
Page 28
Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
## **NORTHUMBRIA HISTORIC CHURCHES TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025**
## **14. Fixed asset investments**
|**Cost or valuation**
At 1 February 2024
Additions
Disposals
Revaluations
At 31 January 2025
**Net book value**
At 31 January 2025
_At 31 January 2024_
**15.**
**Debtors**
**Due within one year**
Prepayments and accrued income
Tax recoverable
**16.**
**Creditors: Amounts falling due within one year**
Other taxation and social security
Other creditors
Accruals and deferred income
Grants offers outstanding (note 17)|**Listed**
**investments**
**£**
**4,181,544**
**1,050,766**
**(696,366)**
**501,106**
**5,037,050**
**5,037,050**
_4,181,544_||**Cash held**
**for re-**
**investment**
**£**
**168,161**
**-**
**(54,362)**
**-**
**113,799**
**113,799**
_168,161_
**2025**
**£**
**5,593**
**36**
**5,629**
**2025**
**£**
**508**
**158**
**7,909**
**152,677**
**161,252**|**Total**
**£**
**4,349,705**
**1,050,766**
**(750,728)**
**501,106**
**5,150,849**
**5,150,849**
_4,349,705_
_2024_
_£_
_4,753_
_36_
_4,789_
_2024_
_£_
_-_
_-_
_7,515_
_149,259_
_156,774_|
|---|---|---|---|---|
||||||
||||||
||||||
||||||
Page 29
Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
## **NORTHUMBRIA HISTORIC CHURCHES TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025**
## **17. Grant offers outstanding at the year end**
|Alnmouth St John the Baptist
Ashington Holy Sepulchre
Barnard Castle St Mary's
Benwell St James'
Cambo Holy Trinity
Cullercoats St George's Church
Darlington St Cuthbert's
Easington Church of the Ascension
Esh St Michael and All Angels
Fourstones with Warden Methodist Church
Greatham Durham St John the Baptist
Heaton St Gabriel's
Hetton le Hole Methodist Church
Hexham Abbey
High Spen St Patrick's Church
Jesmond Holy Trinity
Jesmond St Hilda's Church
Killingworth St John's Church
Kirkharle St Wilfrid's Church
Kirkhaugh Holy Paraclete
Kirkwelpington St Bartholomew's Church
Leadgate St Ives
Low Warden St Michael and All Angels Church
Marley Hill St Cuthbert's
Matfen Holy Trinity Church
Morpeth St Mary the Virgin
Newcastle St Luke's
Otterburn Church of St John the Evangelist
Seaton Delaval The Church of Our Lady
Shieldfield Christ Church
Shotton Colliery St Saviour
Stamfordham St Mary the Virgin
Stockton on Tees St Peter's
Wallsend St John the Evangelist
Wingate Holy Trinity|**2025**
**£**
**-**
**5,000**
**-**
**4,113**
**5,000**
**15,000**
**-**
**10,000**
**-**
**-**
**-**
**-**
**-**
**-**
**6,394**
**-**
**10,000**
**10,000**
**10,000**
**670**
**5,000**
**10,000**
**10,000**
**-**
**5,000**
**10,000**
**7,500**
**-**
**8,000**
**8,000**
**-**
**10,000**
**-**
**-**
**3,000**
**152,677**|_2024_
_£_
_4,100_
_5,000_
_5,000_
_25,000_
_5,000_
_-_
_5,000_
_-_
_5,000_
_3,000_
_10,000_
_5,000_
_3,627_
_10,000_
_-_
_5,000_
_-_
_-_
_-_
_6,532_
_-_
_-_
_-_
_5,000_
_-_
_10,000_
_7,500_
_4,000_
_-_
_-_
_5,000_
_-_
_7,500_
_10,000_
_3,000_|
|---|---|---|
|||_149,259_|
Page 30
Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
## **NORTHUMBRIA HISTORIC CHURCHES TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025**
## **18. Financial instruments**
||**2025**|_2024_|
|---|---|---|
||**£**|_£_|
|**Financial assets**|||
|Financial assets measured at fair value through income and expenditure|**74,076**|_75,876_|
Financial assets measured at fair value through income and expenditure comprise investments and cash at bank.
## **19. Statement of funds**
## **Statement of funds - current year**
|**Balance at 1**
**February**
**2024**
**£**
**Unrestricted funds**
General Funds
**4,323,136**
**Statement of funds - prior year**
_Balance at_
_1 February_
_2023_
_£_
**Unrestricted funds**
General Funds
_2,959,275_|**Income**
**£**
**Expenditure**
**£**
**456,054**
**(240,061)**
_Income_
_£_
_Expenditure_
_£_
_1,502,728_
_(263,859)_|**Gains/**
**(Losses)**
**£**
**533,763**
_Gains/_
_(Losses)_
_£_
_124,992_|**Balance at**
**31 January**
**2025**
**£**
**5,072,892**|
|---|---|---|---|
||||_Balance at_
_31 January_
_2024_
_£_
_4,323,136_|
Page 31
Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
## **NORTHUMBRIA HISTORIC CHURCHES TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025**
## **20. Summary of funds**
## **Summary of funds - current year**
|**Balance at 1**
**February**
**2024**
**£**
General funds
**4,323,136**
**Summary of funds - prior year**
_Balance at_
_1 February_
_2023_
_£_
General funds
_2,959,275_|**Income**
**£**
**Expenditure**
**£**
**456,054**
**(240,061)**
_Income_
_£_
_Expenditure_
_£_
_1,502,728_
_(263,859)_|**Gains/**
**(Losses)**
**£**
**533,763**
_Gains/_
_(Losses)_
_£_
_124,992_|**Balance at**
**31 January**
**2025**
**£**
**5,072,892**|
|---|---|---|---|
||||_Balance at_
_31 January_
_2024_
_£_
_4,323,136_|
|**Summary of funds - prior year**||||
|General funds||||
## **21. Analysis of net assets between funds Analysis of net assets between funds - current period**
|**Unrestricted**
**funds**
**2025**
**£**
Tangible fixed assets
134
Intangible fixed assets
3,456
Fixed asset investments
5,150,849
Current assets
79,705
Creditors due within one year
(161,252)
**Total**
5,072,892|**Total**
**funds**
**2025**
**£**
**134**
**3,456**
**5,150,849**
**79,705**
**(161,252)**|
|---|---|
||**5,072,892**|
Page 32
Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
## **NORTHUMBRIA HISTORIC CHURCHES TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025**
## **21. Analysis of net assets between funds (continued)**
## **Analysis of net assets between funds - prior period**
|Tangible fixed assets
Intangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
**Total**|_Unrestricted_
_funds_
_2024_
_£_
_312_
_5,184_
_4,393,749_
_80,665_
_(156,774)_
_4,323,136_|_Total_
_funds_
_2024_
_£_
_312_
_5,184_
_4,393,749_
_80,665_
_(156,774)_
_4,323,136_|
|---|---|---|
## **22. Related party transactions**
The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 January 2025.
Page 33
Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
Kinnair Associates Limited Aston House Redburn Road Newcastle upon Tyne NE5 1NB
5[th] November 2025
Dear Sirs
The following representations are made on the basis of enquiries of management and staff with relevant knowledge and experience such as we consider necessary in connection with your audit of the charity’s financial statements for the year ended 31 January 2025. These enquiries have included inspection of supporting documentation where appropriate and are sufficient to satisfy ourselves that we can make each of the following representations. All representations are made to the best of our knowledge and belief.
## **General**
1. We have fulfilled our responsibilities as directors / trustees, as set out in the terms of your engagement letter under the Charities Act 2011, for preparing financial statements in accordance with applicable law and United Kingdom Accounting Standards (UK Generally Accepted Accounting Practice), for being satisfied that they give a true and fair view and for making accurate representations to you.
2. All the transactions undertaken by the charity have been properly reflected and recorded in the accounting records.
3. All the accounting records have been made available to you for the purpose of your audit. We have provided you with unrestricted access to all appropriate persons within the charity, and with all other records and related information requested, including minutes of all management and trustees’ meetings and correspondence with The Charity Commission.
4. The financial statements are free of material misstatements, including omissions.
5. The effects of uncorrected misstatements (as set out in the appendix to this letter) are immaterial both individually and in total.
1
Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
## **Internal control and fraud**
6. We acknowledge our responsibility for the design, implementation and maintenance of internal control to prevent and detect fraud and error, and we believe that we have appropriately fulfilled these responsibilities. We have disclosed to you the results of our risk assessment that the financial statements may be misstated as a result of fraud.
7. We have disclosed to you all instances of known or suspected fraud affecting the entity involving management, employees who have a significant role in internal control or others where fraud could have a material effect on the financial statements.
8. We have also disclosed to you all information in relation to allegations of fraud or suspected fraud affecting the entity’s financial statements communicated by current or former employees, analysts, regulators or others.
## **Assets and liabilities**
9. The charity has satisfactory title to all assets and there are no liens or encumbrances on the charity’s assets, except for those that are disclosed in the notes to the financial statements.
10. All actual liabilities, contingent liabilities and guarantees given to third parties have been recorded or disclosed as appropriate.
11. We have no plans or intentions that may materially alter the carrying value and, where relevant, the fair value measurements or classification of assets and liabilities reflected in the financial statements.
## **Accounting estimates**
12. The methods, data and significant assumptions used by us in making accounting estimates, and their related disclosures, are appropriate to achieve recognition, measurement and disclosure that is reasonable in the context of the applicable financial reporting framework.
## **Legal claims**
13. We have disclosed to you all claims in connection with litigation that have been, or are expected to be, received and such matters, as appropriate, have been properly accounted for and disclosed in the financial statements.
## **Laws and regulations**
14. We have disclosed to you all known instances of non-compliance or suspected non-compliance with laws and regulations whose effects should be considered when preparing the financial statements.
## **Related parties**
15. Related party relationships and transactions have been appropriately accounted for and disclosed in the financial statements. We have disclosed to you all relevant information concerning such relationships and transactions and are not aware of any other matters which require disclosure in order to comply with legislative and accounting standards requirements.
2
Docusign Envelope ID: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832
## **Subsequent events**
16. All events subsequent to the date of the financial statements which require adjustment or disclosure have been properly accounted for and disclosed.
## **Going concern**
17. We believe that the charity's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the charity's needs. We also confirm our plans for the transfer of the Charitable Trust’s net assets to the CIO will be at the carrying value of those net assets. We consider that future actions required to enable the charity to continue as a going concern are feasible. We have considered a period of twelve months from the date of approval of the financial statements. We believe that no further disclosures relating to the charity's ability to continue as a going concern need to be made in the financial statements.
## **Grants and donations**
18. All grants, donations and other income, the receipt of which is subject to specific terms or conditions, have been notified to you. There have been no breaches of terms or conditions in the application of such income.
19. We confirm our intention to collect the legacy from Mr F A Moody Dec’d.
We acknowledge our legal responsibilities regarding disclosure of information to you as auditors and confirm that so far as we are aware, there is no relevant audit information needed by you in connection with preparing your audit report of which you are unaware.
Yours faithfully,
......................................................................................................................................
Signed on behalf of the board of [directors / trustees]
Registered Charity No 511314 Registered Office: 7 Strothers Road, High Spen, Rowlands Gill, Tyne and Wear, NE39 2HR Email: Secretary@Northumbriahct.org.uk
3
## **Certificate Of Completion**
Envelope Id: 1BED8FAC-2F4E-4364-AC6A-E31D1C59C832 Status: Completed Subject: Complete with Docusign: NHCT - final 31-1-2025.pdf, NHCT Letter of representation - re 31-1-202... Source Envelope: Document Pages: 38 Signatures: 4 Envelope Originator: Certificate Pages: 5 Initials: 0 Detlev Anderson AutoNav: Enabled detlev-anderson@kinnair.co.uk EnvelopeId Stamping: Enabled IP Address: 185.16.152.169 Time Zone: (UTC-08:00) Pacific Time (US & Canada) **Record Tracking** Status: Original Holder: Detlev Anderson Location: DocuSign 11/6/2025 8:09:06 AM detlev-anderson@kinnair.co.uk **Signer Events Signature Timestamp** John Anderson Sent: 11/6/2025 8:18:00 AM john@kirkharlecourtyard.co.uk Viewed: 11/7/2025 11:16:10 AM Partner Signed: 11/14/2025 2:22:00 AM The Little Harle Partnership Signature Adoption: Pre-selected Style Security Level: Email, Account Authentication (None) Using IP Address: 88.97.143.63 **Electronic Record and Signature Disclosure:** Accepted: 7/19/2023 9:54:20 AM ID: 32a04dcb-8461-4143-83a3-cd3519279185 Kinnair Associates Limited Sent: 11/14/2025 2:22:02 AM detlev-anderson@kinnair.co.uk Viewed: 11/14/2025 2:22:28 AM [bisa Associates limited Director Signed: 11/14/2025 2:22:34 AM Kinnair Associates Limited Signature Adoption: Pre-selected Style Security Level: Email, Account Authentication (None) Using IP Address: 185.16.152.169
**Electronic Record and Signature Disclosure:** Not Offered via Docusign
|**In Person Signer Events**|**Signature**|**Timestamp**|
|---|---|---|
|**Editor Delivery Events**|**Status**|**Timestamp**|
|**Agent Delivery Events**|**Status**|**Timestamp**|
|**Intermediary Delivery Events**|**Status**|**Timestamp**|
|**Certified Delivery Events**|**Status**|**Timestamp**|
|**Carbon Copy Events**|**Status**|**Timestamp**|
|Joanna Pullan||Sent: 11/14/2025 2:22:35 AM|
|chair@northumbriahct.org.uk|||
|Security Level: Email, Account Authentication|||
|(None)|||
|**Electronic Record and Signature Disclosure:**|||
|Not Offered via Docusign|||
|Mark Allison||Sent: 11/14/2025 2:22:35 AM|
|secretary@northumbriahct.org.uk||Viewed: 11/14/2025 2:57:13 AM|
|Security Level: Email, Account Authentication|||
|(None)|||
|**Carbon Copy Events**|**Status**|**Timestamp**|
|---|---|---|
|**Electronic Record and Signature Disclosure:**|||
|Not Offered via Docusign|||
|Matthew Sinclair||Sent: 11/14/2025 2:22:36 AM|
|msinclair@wealthofadvice.co.uk|||
|Security Level: Email, Account Authentication|||
|(None)|||
|**Electronic Record and Signature Disclosure:**|||
|Not Offered via Docusign|||
|**Witness Events**|**Signature**|**Timestamp**|
|**Notary Events**|**Signature**|**Timestamp**|
|**Envelope Summary Events**|**Status**|**Timestamps**|
|Envelope Sent|Hashed/Encrypted|11/6/2025 8:18:00 AM|
|Certified Delivered|Security Checked|11/14/2025 2:22:28 AM|
|Signing Complete|Security Checked|11/14/2025 2:22:34 AM|
|Completed|Security Checked|11/14/2025 2:22:36 AM|
|**Payment Events**|**Status**|**Timestamps**|
|**Electronic Record and Signature Disclosure**|||
Electronic Record and Signature Disclosure created on: 2/28/2022 10:29:55 AM Parties agreed to: John Anderson
## **ELECTRONIC RECORD AND SIGNATURE DISCLOSURE**
From time to time, Kinnair Associates (we, us or Company) may be required by law to provide to you certain written notices or disclosures. Described below are the terms and conditions for providing to you such notices and disclosures electronically through the DocuSign system. Please read the information below carefully and thoroughly, and if you can access this information electronically to your satisfaction and agree to this Electronic Record and Signature Disclosure (ERSD), please confirm your agreement by selecting the check-box next to ‘I agree to use electronic records and signatures’ before clicking ‘CONTINUE’ within the DocuSign system.
## **Getting paper copies**
At any time, you may request from us a paper copy of any record provided or made available electronically to you by us. You will have the ability to download and print documents we send to you through the DocuSign system during and immediately after the signing session and, if you elect to create a DocuSign account, you may access the documents for a limited period of time (usually 30 days) after such documents are first sent to you. After such time, if you wish for us to send you paper copies of any such documents from our office to you, you will be charged a $0.00 per-page fee. You may request delivery of such paper copies from us by following the procedure described below.
## **Withdrawing your consent**
If you decide to receive notices and disclosures from us electronically, you may at any time change your mind and tell us that thereafter you want to receive required notices and disclosures only in paper format. How you must inform us of your decision to receive future notices and disclosure in paper format and withdraw your consent to receive notices and disclosures electronically is described below.
## **Consequences of changing your mind**
If you elect to receive required notices and disclosures only in paper format, it will slow the speed at which we can complete certain steps in transactions with you and delivering services to you because we will need first to send the required notices or disclosures to you in paper format, and then wait until we receive back from you your acknowledgment of your receipt of such paper notices or disclosures. Further, you will no longer be able to use the DocuSign system to receive required notices and consents electronically from us or to sign electronically documents from us.
## **All notices and disclosures will be sent to you electronically**
Unless you tell us otherwise in accordance with the procedures described herein, we will provide electronically to you through the DocuSign system all required notices, disclosures, authorizations, acknowledgements, and other documents that are required to be provided or made available to you during the course of our relationship with you. To reduce the chance of you inadvertently not receiving any notice or disclosure, we prefer to provide all of the required notices and disclosures to you by the same method and to the same address that you have given us. Thus, you can receive all the disclosures and notices electronically or in paper format through the paper mail delivery system. If you do not agree with this process, please let us know as described below. Please also see the paragraph immediately above that describes the consequences of your electing not to receive delivery of the notices and disclosures electronically from us.
## **How to contact Kinnair Associates:**
You may contact us to let us know of your changes as to how we may contact you electronically, to request paper copies of certain information from us, and to withdraw your prior consent to receive notices and disclosures electronically as follows:
To contact us by email send messages to: graham-murray@kinnair.co.uk
## **To advise Kinnair Associates of your new email address**
To let us know of a change in your email address where we should send notices and disclosures electronically to you, you must send an email message to us at graham-murray@kinnair.co.uk and in the body of such request you must state: your previous email address, your new email address. We do not require any other information from you to change your email address.
If you created a DocuSign account, you may update it with your new email address through your account preferences.
## **To request paper copies from Kinnair Associates**
To request delivery from us of paper copies of the notices and disclosures previously provided by us to you electronically, you must send us an email to graham-murray@kinnair.co.uk and in the body of such request you must state your email address, full name, mailing address, and telephone number. We will bill you for any fees at that time, if any.
## **To withdraw your consent with Kinnair Associates**
To inform us that you no longer wish to receive future notices and disclosures in electronic format you may:
i. decline to sign a document from within your signing session, and on the subsequent page, select the check-box indicating you wish to withdraw your consent, or you may;
ii. send us an email to graham-murray@kinnair.co.uk and in the body of such request you must state your email, full name, mailing address, and telephone number. We do not need any other information from you to withdraw consent.. The consequences of your withdrawing consent for online documents will be that transactions may take a longer time to process..
## **Required hardware and software**
The minimum system requirements for using the DocuSign system may change over time. The - - current system requirements are found here: https://support.docusign.com/guides/signer guide signing-system-requirements.
## **Acknowledging your access and consent to receive and sign documents electronically**
To confirm to us that you can access this information electronically, which will be similar to other electronic notices and disclosures that we will provide to you, please confirm that you have read this ERSD, and (i) that you are able to print on paper or electronically save this ERSD for your future reference and access; or (ii) that you are able to email this ERSD to an email address where you will be able to print on paper or save it for your future reference and access. Further, if you consent to receiving notices and disclosures exclusively in electronic format as described herein, then select the check-box next to ‘I agree to use electronic records and signatures’ before clicking ‘CONTINUE’ within the DocuSign system.
By selecting the check-box next to ‘I agree to use electronic records and signatures’, you confirm that:
- You can access and read this Electronic Record and Signature Disclosure; and
- You can print on paper this Electronic Record and Signature Disclosure, or save or send this Electronic Record and Disclosure to a location where you can print it, for future reference and access; and
- Until or unless you notify Kinnair Associates as described above, you consent to receive exclusively through electronic means all notices, disclosures, authorizations, acknowledgements, and other documents that are required to be provided or made available to you by Kinnair Associates during the course of your relationship with Kinnair Associates.