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2023-11-30-accounts

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Company registration number: 01596913 Charity registration number: 511851

NORTHUMBRIA CALVERT TRUST

(A company limited by guarantee)

Annual Report and Financial Statements

for the Year Ended 30 November 2023

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Northumbria Calvert Trust

Contents

Reference and Administrative Details 1 to 2
Trustees Report 3 to 13
Independent Auditors' Report 14 to 17
Statement of Financial Activities 18
Balance Sheet 20
Statement of Cash Flows 21
Notes to the Financial Statements 22 to 37

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Northumbria Calvert Trust

Reference and Administrative Details

Trustees C M Green * Dr J N Bridge Dr A M Charlton * C R Drax P R Loyd (resigned 22 March 2024) M F Schooler Dr P H Straker R D Anderton * (resigned 9 February 2023) G King * P J V Cockerill * (appointed 13 February 2023) M D Spoor * (appointed 25 March 2023) J Spoor (appointed 25 March 2023) J Hughes (appointed 22 September 2023) S Hazon * (appointed 22 March 2024)

*These trustees are members of the Managing Trustee Committee as explained on page 9 of the Trustees' report.

Secretary K G Appleby Key Management Personnel K G Appleby, Chief Executive Officer Registered Office Calvert Trust Kielder Kielder Water & Forest Park Hexham Northumberland NE48 1BS The charity is incorporated in England and Wales. Company Registration Number 01596913 Charity Registration Number 511851 Bankers Svenska Handelsbanken Earl Grey House 75 - 85 Grey Street Newcastle upon Tyne NE1 6EF National Westminster Bank Plc Maritime Chatham ME4 4RT Barclays Bank Plc Leicester Leicestershire LE87 2BB

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Northumbria Calvert Trust

Reference and Administrative Details

Auditor

Azets Audit Services Chartered Accountants & Statutory Auditor Bulman House Regent Centre Gosforth Newcastle upon Tyne NE3 3LS

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Northumbria Calvert Trust

Trustees Report

The Trustees, who are also Directors of the Charity for the purpose of the Companies Act 2006, present their report and the audited financial statements for the year ended 30 November 2023 which are also prepared to meet the requirements for a Directors' Report and Accounts for Companies Act purposes.

The financial statements have been prepared in accordance with the accounting policies set out in note 2 to the accounts and comply with the Charities Act 2011, the Companies Act 2006, the Articles of Association, and the Statement of Recommended Practice applicable to charities.

Objectives and Activities

Our Charitable Objects

The objects for which the Trust is established are

'the provision of specialised facilities for outdoor activities in the countryside for the education or otherwise for the relief of people who have need of such facilities by reason of disability of any nature or age or social or economic circumstances provided always that priority for the use of such facilities shall be afforded to people with disabilities'.

Our Aims, Objectives, Mission and Benefits

Our Mission is to enable people with disabilities, together with their families and friends and others, to achieve their potential through the challenge of adventurous activities in the countryside.

The benefits and enjoyment of the activities are offered to all, irrespective of ability. These benefits include:

Inner Strength (Permanent and Portable) Enrichment of life for each individual Personal development and rehabilitation leading to integration Greater self-confidence and greater self-esteem

Strategy for Achieving our Aims and Objectives

Our Strategic Plan 2023 to 2026 has been shaped by two overriding needs; the financial needs of our beneficiaries for affordable services and the need for the Charity to establish a strong and viable organisation for the long term. The ever-increasing desire among disabled people for inclusion and integration has also shaped the plan.

To deliver the strategy we will continue to provide services from our centre in the Kielder Water & Forest Park. We will maintain the number of our accessible self-catered units at 19, which provide a more affordable option for beneficiaries. We will add new and exciting outdoor activities that will attract new users and enhance the experiences of returning beneficiaries. We will continue to listen to what our beneficiaries want and need and adjust our services accordingly.

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Northumbria Calvert Trust

Trustees Report (continued)

Main Activities Undertaken

The Trust provides a wide range of accessible and challenging indoor and outdoor activities from its base in the Kielder Water & Forest Park in Northumberland.

Sailing, canoeing, kayaking and cruising are run from its boathouse on the shores of Kielder Water. Climbing, zipcoaster, orienteering, archery, trail buggies, king swing, high ropes, swimming and more are provided on site at its main centre.

We also provide a 24-hour Respite Care service combined with the activities above for disabled adults.

Fully catered and self-catered facilities are provided, and day visitors are also catered for.

The main centre building comprises 25 ground floor accessible rooms for up to 38 people all of which, except three, are ensuite. In addition, there is an indoor hydrotherapy pool, recreation hall, Snoozelum, TV lounge, dining room, conference room, reception and small bar and shop..

19 self-catering chalets provide further accommodation for 112 people.

We have a team of qualified and experienced instructors and carers who deliver our activities and respite care programmes. Housekeeping, catering, maintenance, fundraising and administration staff complete the team.

Our guests of all ages visit from the North-East and across the UK. We cater for disabled people with physical, mental and sensory disabilities of all degrees of severity, many with profound and multiple disabilities. Our disabled guests visit with their families and carers and in groups. Disabled adults can visit alone on our respite care service.

Public Benefit

The Trust seeks to make its services available at a cost that is affordable. A bursary scheme is in place that seeks to mitigate the costs for those who find it difficult to finance the cost of their stay.

The Trustees have confirmed that they have referred to the guidance contained in the Charity Commissioners' guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities of the Trust.

The Trustees have concluded that the Northumbria Calvert Trust complies with the two principles of public benefit as follows:

There are identifiable benefits, and these benefits are available to people with disabilities, their carers and families or friends without restriction.

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Northumbria Calvert Trust

Trustees Report (continued)

Achievements and Performance

Main Achievements

Despite some difficult staffing issues our respite care service had another successful year. This provided a vital service for vulnerable disabled people and their carers in desperate need of a break, made all the more acute by the ongoing effects of Covid-19. Some 384 (2022: 379) people enjoyed our unique Care Service. The feedback from families on the positive impact of this service is tremendous. All too often respite care means little more than four walls and a bed. For our guests it means a full range of indoor and outdoor activities with personal care. As a result our guests return home reinvigorated and the carers have a rest without the feeling of guilt that can arise when a bare minimum form of respite care is provided.

Our self-catered programme did not perform as well as in previous years. The ongoing economic and cost of living crisis has had a direct impact on our bookings with many of our regular guests having to tighten their belts. We were however, delighted that those able to take full advantage of this service finding in it the therapeutic input they so badly needed.

In line with our policy of encouraging inclusion and integration we were glad to see continuing usage of our facilities by able bodied guests who comprise the family members, carers and friends of disabled guests. In addition, we continued to extend our services to disability charities, special schools and mainstream schools who are supportive of our work and value the inclusive experience for their pupils.

We continued to receive guests with a wide range of impairments in particular those with learning difficulties such as autism and many with profound and multiple learning disabilities (PMLD). Our guests consistently report how their self-confidence, resilience and enjoyment of life is enhanced by their stay. They say this in turn provides the foundations and confidence for them to take their place in society and so lead more fulfilling lives.

In March 2023 we achieved the status of a Real Living Wage employer.

With the exception of self-catering our sales income continued to strengthen although our running costs rose sharply with inflation and the impact of circa 10% increases to the National Minimum and Real Living Wages increased our staff costs significantly, but thanks to the generosity of our many benefactors we ended the year with a loss of £122,803 (2022: loss £119,740) before fundraising and depreciation.

During the year we received 3,215 (2022: 4,353) residential guests representing 15,289 (2022: 18,555) bed nights. Of these 4,359 (2022: 4,042) bed nights were sold to fully catered guests and a further 10,930 (2022: 14,513) bed nights to self-catered guests.

We wish to thank especially our many benefactors who make our work possible and who have supported us so generously and loyally over many years. It is only with our benefactors support that we are able to change the lives of thousands of beneficiaries every year.

This year marks the retirement of Peter Loyd as Trustee. He has served the Trust for some 40 years as volunteer, trustee, Chair of the Managing Trustee Committee and Chair of Trustees. He has been deeply involved in all the major developments of the Trust during that time and, in particular, the establishment of our unique Respite Care Service, our Self-Catering Service, and the move to greater inclusion of our disabled beneficiaries with their able bodied friends and families. Further afield, he was closely involved with projects to expand the Trust to other regions. He has left a lasting legacy for which the Trust owes him a deep debt of gratitude. We wish him all the very best for the future.

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Northumbria Calvert Trust

Trustees Report (continued)

Key Performance Indicators

The Trust seeks to build inner strength that provides the foundation and confidence necessary for beneficiaries to lead more fulfilling lives within the community. We evaluate our success in this area by the following criteria;

Outcome monitoring is measured by;

Output monitoring is measured by;

Financial Review

Headline results

Total Income £1,585,075 (2022: £1,650,598) Total Expenditure excluding depreciation and disposals £1,539,950 (2022: £1,506,354) Total Net (Expenditure)/Income after depreciation and disposals (£216,649) (2022: £100,166) Total capital expenditure £230,162 (2022: £498,911)

We achieved total income of £1,585,075, £65,523 lower than last year due entirely to a downturn in self-catering sales. The reduced self-catering income was somewhat mitigated with increased revenue sales both within the catered and respite care provisions. Total expenditure increased by £33,596 due to front line direct costs.

Charitable Activities

We provide our service to enable disabled people to live more independent lives. Fees and grants for delivering our services form the major part of our income. This income increased by £43,634 compared to 2022 due to increased sales of Fully Catered and Respite Care. We seek to set our tariffs at a level the market can bear. We also provide bursaries for those in financial need funded by charitable donations. Expenditure on Charitable activities increased by £58,127 compared to 2022.

Capital Expenditure and Fixed Assets

Capital expenditure is funded from fundraising activity. Changes in fixed assets are shown in note 13 to the accounts. The freehold land and buildings are shown in the Trust's balance sheet at cost less depreciation. No valuation has been undertaken in view of the specialised nature of these buildings and the objectives of the Trust.

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Northumbria Calvert Trust

Trustees Report (continued)

Donations and Legacies

Donations of £157,021 were lower than last year by £63,855, due mainly to the economic climate and available in-house fundraising resource. It should be noted that the fundraising income was largely due to the ongoing efforts of Peter Cockerill for which we are extremely grateful. We are also working with a freelance fundraiser whose remit is Grant Making Trusts.The donations and legacies received will allow us to fund our bursary and frontline costs and we will continue our fundraising activities to meet our medium and long-term capital and ongoing revenue needs.

Outturn

The shortfall for the year for the Unrestricted Fund was £234,509 (2022: £83,641 shortfall). The net asset value of the Trust has decreased by £216,649 to £5,156,378 (2022: decreased by £100,166 to £5,373,027).

Investment Policy

The Trustees took the decision to hold most of our funds in cash since we had short to medium term projects that required readily available cash. These funds are held with main clearing banks and equivalent institutions in interest bearing accounts.

The Trust does not knowingly invest in an organisation whose primary purpose conflicts with our objects. We take advice from external advisers from time to time on this policy.

Reserves Policy

The Trustees have adopted a risk-based approach to reserves and the policy is, when finances allow, to hold a minimum level of unrestricted cash of £100,000 within total unrestricted reserves/’funds’ of £400,000. This should be sufficient to cover the following risks:

The Trustees recognise that the circumstances that may give rise to the above risks would not all necessarily occur at the same time and this has been reflected in setting the level of contingency noted above.

The current level of free reserves at the year-end totalled £622,037 (which are unrestricted net current assets), which is above our target level of reserves.

A Designated Fund represents the amount of money invested in Tangible Fixed Assets, and a Refurbishment Fund and amounted to £4,686,661 at 30 November 2023.

There are Restricted Funds at 30 November 2023 of £18,571.

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Northumbria Calvert Trust

Trustees Report (continued)

Going concern

The charity’s forecasts and projections for the next twelve months show that the charity expects to continue in operational existence for that period, taking into account reasonable possible changes in performance and the potential impact on the charity of possible future scenarios arising from the impact of COVID-19 and high inflation. The charity has a strong positive cash position and is forecasting for this to continue to be the case. The Trustees have stress tested their forecasts, taking into account various scenarios, and remain confident that the uncertainties do not cast significant doubt on the charity’s ability to continue as a going concern. Based on the factors set out above the trustees believe that it remains appropriate to prepare the financial statements on a going concern basis.

Fundraising policy

Our approach to fundraising is shaped by the principle of treating all benefactors fairly and respectfully. This means respecting their wishes and encouraging them to share in our mission. Importantly it also means respecting the rights and dignity of our beneficiaries.

Our fundraisers are members of the Institute of Fundraising and take care to ensure that their fundraising is delivered to a high standard. We are not intrusive in our fundraising practices and focus most of our efforts on applications to grant making trusts, corporates and charity events. We have engaged Carol Meredith Consulting to undertake our GMT fundraising. We support and contribute to the work of the Fundraising Regulator. We have not received any complaints about our fundraising activities.

Plans For Future Periods

In response to the needs and wishes of beneficiaries and following a review of its development programme the Trustees have agreed the following capital development projects to be progressed as funding allows;

Installation of new and exciting activities Redevelopment of the main centre building Redevelopment of an existing building to provide indoor activities and associated facilities Landscaping of the site

The Trust will continue to invest in fundraising, marketing and sales activity in order to help and reach as many beneficiaries as possible. In particular the Trust will raise funds for bursary support and operating costs in order to keep charges to beneficiaries at an affordable level.

The Trust has an ethos of continuous improvement and development programmes are focussed on enhancing the quality of service for our clients and broadening the skills of our staff with accredited training.

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Northumbria Calvert Trust

Trustees Report (continued)

Structure, Governance and Management

Governing Document

The organisation is a charitable company limited by guarantee and not having a share capital. It was incorporated on 10 November 1981. The company was established under a Memorandum of Association which established the objects and powers of the charitable company. The Memorandum and Articles of Association were reviewed in 2018 and replaced by new Articles adopted by Special Resolution on 23 April 2018 and lodged at Companies House and Charity Commission. In the event of the company being wound up, members are required to contribute to an amount not exceeding £1.

Managing Trustee Committee

At its first meeting in 1981 the Directors delegated their responsibilities for the day-to-day management of the Trust to the Trustees. The Trustees subsequently formed a Managing Trustee Committee to undertake these duties which is answerable to the Board of Trustees as and when required. The Managing Trustee Committee meets at least twice a year and currently comprises four Trustees with the Chief Executive Officer in attendance.

Responsibility for the day-to-day provision of services rests with the Chief Executive Officer along with the Management Team.

Trustees of the Charity

The Directors of the charitable company become Members of the company on appointment and Trustees for the purposes of charity law. The Trustees who have served during the year and since the year end are shown in the Charity Reference and Administration Details on page 1.

Under the Articles of Association a Trustee shall hold office for three years at the end of which he will be eligible for reappointment for one or more further terms of three years each but having served the maximum term of office of nine consecutive years shall not be eligible for re-appointment until one year after their retirement as a Trustee.

All Trustees give their time voluntarily and receive no benefits from the Charity. Should any expenses be reclaimed from the Charity these will be set out in the notes to the accounts.

The traditional business skills are well represented on the Trustee Board. The composition of the Trustees' board and its experience and training is kept under review. Where specific skills are lost due to retirement the Board seeks to ensure individuals are approached to fill the skills gap.

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Northumbria Calvert Trust

Trustees Report (continued)

Recruitment, Appointment and Induction of Trustees

The Trustees are from a variety of relevant professional, business and charitable backgrounds with a number having experience in the disability field.

There is a Trustee Recruitment policy that sets out the procedures and responsibilities for recruitment. Recruitment is conducted by advertising and word of mouth. Trustees must provide two referees and undertake the Disclosure and Barring (DBS) process.

New Trustees undergo an orientation period to brief them on their legal obligations under Charity and company law, the content of the Articles of Association, the decision making process, the business plan and recent financial performance of the Charity. They also meet key employees and other Trustees. Induction also includes a tour of the site including the activities available.

Risk Management

The major risks which the Charity might be exposed to have been reviewed by the Managing Trustee Committee and systems have been established to mitigate those risks.

Working with vulnerable adults and young people entails risks. The Trustees are ultimately responsible for risk management and they are satisfied that the appropriate internal control systems and risk management processes are in place. The Trustees consider that the following framework provides the Trust with adequate measures to reduce the impact of identified risk.

At each quarter of the year Trustees receive a full operational report covering all aspects of the Trusts' activities. This report includes serious incidents and near miss reports. The Trust has a full Risk Register which is reviewed by the senior management team and any significant changes in the risk profile are notified to Trustees along with the mitigation measures. At the departmental level risk assessments are in place for all activities. Our most significant risks and mitigating actions are set out below:

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Northumbria Calvert Trust

Trustees Report (continued)

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Northumbria Calvert Trust

Trustees Report (continued)

Related Parties

Northumbria Calvert Trust is a corporate Trustee of 'The Calvert Trust' (Reg Charity No. 1042423). The purpose of 'The Calvert Trust' is to promote and co-ordinate the work of Northumbria Calvert Trust, Calvert Trust Exmoor (Reg Charity No. 1005776) and The Lake District Calvert Trust (Reg Charity No. 270923).

Working together has enabled us to embark on major initiatives to co-ordinate our fundraising and marketing and to improve performance in other areas by co-operation. The Trustees of Northumbria Calvert Trust have provided positive support in this programme of co-operative working.

The Northumbria Calvert Trust is a Founding Member of the Kielder Water & Forest Park Development Trust. Its purpose is to promote the sustainable development of the Kielder Water & Forest Park area and to improve the conditions of life for those in socially and economically disadvantaged communities at Kielder.

Regulators

The Trust's Respite Care service is regulated by the Care Quality Commission (CQC). During 2023 the Trust retained its standard of Good awarded by the CQC for its respite care service.

The Trust's outdoor activity service is regulated by the Adventure Activities Licensing Service (AALS) and maintained its registration throughout 2023.

Significance of Volunteers

The Trust benefits from the services of unpaid volunteers who complement the work of paid staff. Volunteers help with both service delivery and fundraising usually on an event-by-event basis. Volunteers are ancillary to and do not replace paid staff.

Pay Policy for Senior Staff

The pay of the senior staff is reviewed annually by the Managing Trustees Committee and normally increased by reference to the retail price index increase.

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Northumbria Calvert Trust

Trustees Report (continued)

Trustees' Responsibilities Statement

The Trustees (who are also the Directors of Northumbria Calvert Trust for the purposes of company law) 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).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

General

The Trustees would like to thank, on behalf of all our guests, our benefactors for their very generous support and the staff employed by the Trust for their commitment and hard work.

Reappointment of auditor

In accordance with section 485 of the Companies Act 2006 a resolution for the re-appointment of Azets Audit Services as auditors of the charity is to be proposed at the forthcoming General Meeting.

Disclosure of information to auditor

Each Trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity’s auditor is aware of that information. The Trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

The annual report was approved by the trustees of the charity on 28/03/2024.................... and signed on its behalf by:

Peter Cockerill 28 Mar 2024 12:22:20 GMT (UTC +0)

......................................... P J V Cockerill Chair of Trustees

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Northumbria Calvert Trust

Independent Auditor's Report to the Members of Northumbria Calvert Trust

Opinion

We have audited the financial statements of Northumbria Calvert Trust (the 'charity') for the year ended 30 November 2023, which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

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 auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements were authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

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Northumbria Calvert Trust

Independent Auditor's Report to the Members of Northumbria Calvert Trust

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees' Responsibilities Statement (included in the Trustees' Report), the trustees are responsible for the preparation of the financial statements and for being satisfied that they 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.

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Northumbria Calvert Trust

Independent Auditor's Report to the Members of Northumbria Calvert Trust

Auditor’s responsibilities for the audit of the financial statements

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 auditor’s 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:

Because of the field in which the client operates, we identified the following areas as those most likely to have a material impact on the financial statements: Health and Safety; employment law (including the Working Time Directive); Care Quality Commission; and compliance with the UK Companies Act and Charities Act.

Owing to the inherent limitations of an audit, there is an unavoidable risk that some material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK). For instance, the further removed non-compliance is from the events and transactions reflected in the financial statements, the less likely the auditor is to become aware of it or to recognise the non-compliance.

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Northumbria Calvert Trust

Independent Auditor's Report to the Members of Northumbria Calvert Trust

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. 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 auditor’s 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 charitable company and its trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Simon Brown 28 Mar 2024 13:51:56 GMT (UTC +0)

...................................... Simon Brown BA ACA DChA (Senior Statutory Auditor) For and on behalf of Azets Audit Services Chartered Accountants Statutory Auditor Bulman House Regent Centre Gosforth Newcastle upon Tyne NE3 3LS 28/03/2024 Date:.............................

Azets Audit Services is a trading name of Azets Audit Services Limited

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Northumbria Calvert Trust

Statement of Financial Activities for the Year Ended 30 November 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Charitable activities
4
Other trading activities
Investment income
5
Other income
6
Total Income
Expenditure on:
Raising funds
7
Charitable activities
8
Total Expenditure
Net (expenditure)/income
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
21		 Unrestricted
£
69,141
1,425,248
216
1,711
879
1,497,195
(6,515)
(1,725,189)
(1,731,704)
(234,509)
173,561
(60,948)
5,198,755
5,137,807		 Restricted
£
87,880
-
-
-
-
87,880
-
(70,020)
(70,020)
17,860
(173,561)
(155,701)
174,272
18,571		 Total
2023
£
157,021
1,425,248
216
1,711
879
1,585,075
(6,515)
(1,795,209)
(1,801,724)
(216,649)
-
(216,649)
5,373,027
5,156,378		 Total
2022
£
220,876
1,381,614
-
151
47,957
1,650,598
(13,682)
(1,737,082)
(1,750,764)
(100,166)
-
(100,166)
5,473,193
5,373,027

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2022 is shown in note 21.

18

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Northumbria Calvert Trust

Comparative Statement of Financial Activities for the Year Ended 30 November 2022 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Charitable activities
4
Investment income
5
Other income
6
Total income
Expenditure on:
Raising funds
7
Charitable activities
8
Total expenditure
Net expenditure
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
21		 Unrestricted
£
144,401
1,381,614
151
47,957
1,574,123
(13,682)
(1,644,082)
(1,657,764)
(83,641)
247,838
164,197
5,034,558
5,198,755		 Restricted
£
76,475
-
-
-
76,475
-
(93,000)
(93,000)
(16,525)
(247,838)
(264,363)
438,635
174,272		 Total
2022
£
220,876
1,381,614
151
47,957
1,650,598
(13,682)
(1,737,082)
(1,750,764)
(100,166)
-
(100,166)
5,473,193
5,373,027

19

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Northumbria Calvert Trust

(Registration number: 01596913) Balance Sheet as at 30 November 2023

Note
Fixed assets
Tangible assets
13
Current assets
Stocks
14
Debtors
15
Cash at bank and in hand
16
Creditors: Amounts falling due within one year
17
Net current assets
Total assets less current liabilities
Creditors: Amounts falling due after more than one year
18
Net assets
Funds of the charity:
Restricted
Unrestricted income funds
Unrestricted
Total funds
21		 2023
£
4,536,661
18,474
71,217
990,298
1,079,989
(289,381)
790,608
5,327,269
(170,891)
5,156,378
18,571
5,137,807
5,156,378		 2022
£
4,574,672
19,060
133,505
1,102,494
1,255,059
(266,701)
988,358
5,563,030
(190,003)
5,373,027
174,272
5,198,755
5,373,027

The financial statements on pages 18 to 37 were approved by the trustees, and authorised for issue on ....................28/03/2024 and signed on their behalf by:

Peter Cockerill 28 Mar 2024 12:22:20 GMT (UTC +0)

......................................... P J V Cockerill Trustee

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Northumbria Calvert Trust

Statement of Cash Flows for the Year Ended 30 November 2023

Note
Cash flows from operating activities
Net cash expenditure
Adjustments to cash flows from non-cash items
Depreciation
8
Investment income
5
Working capital adjustments
Decrease/(increase) in stocks
14
Decrease in debtors
15
Increase in creditors
17
Net cash flows from operating activities
Cash flows from investing activities
Interest receivable and similar income
5
Purchase of tangible fixed assets
13
Sale of tangible fixed assets
Net cash flows from investing activities
Cash flows from financing activities
Repayment of loans and borrowings
17, 18
Net decrease in cash and cash equivalents
Cash and cash equivalents at 1 December
Cash and cash equivalents at 30 November		 2023
£
(216,649)
261,774
(1,711)
43,414
586
62,288
22,201
128,489
1,711
(230,162)
6,399
(222,052)
(18,633)
(112,196)
1,102,494
990,298		 2022
£
(100,166)
246,910
(151)
146,593
(3,198)
38,544
19,961
201,900
151
(498,911)
-
(498,760)
(27,775)
(324,635)
1,427,129
1,102,494

All of the cash flows are derived from continuing operations during the above two periods.

21

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Northumbria Calvert Trust

Notes to the Financial Statements for the Year Ended 30 November 2023

1 Charity status

The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.

The address of its registered office is: Calvert Trust Kielder, Kielder Water & Forest Park, Hexham, Northumberland, NE48 1BS

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared 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) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.

Basis of preparation

Northumbria Calvert 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 notes.

These financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The charity’s forecasts and projections for the next twelve months show that the charity expects to continue in operational existence for that period. The charity has a strong positive cash position and is forecasting for this to continue to be the case. The Trustees have stress tested their forecasts, taking into account various scenarios, and remain confident that the uncertainties do not cast significant doubt on the charity’s ability to continue as a going concern. Based on the factors set out above the trustees believe that it remains appropriate to prepare the financial statements on a going concern basis.

22

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Northumbria Calvert Trust

Notes to the Financial Statements for the Year Ended 30 November 2023

Estimation uncertainty and judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported.

Management have prepared depreciation, prepayments, accruals and other cut-off adjustments. Whilst management believe that these estimates and judgements are accurate, there is every likelihood that they will not be exact.

These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Income and endowments

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 the income receivable can be measured reliably.

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Legacy income is recognised when receipt is probable and entitlement is established. Where a legacy is notified to the charity prior to the year end, it is recognised as income if it is received before the accounts are approved.

Investment income

Investment income is recognised in the period in which the Charity is entitled to receipt.

Charitable activities

Charitable activities is the amount charged in respect of the provision of accommodation and activities.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

23

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Northumbria Calvert Trust

Notes to the Financial Statements for the Year Ended 30 November 2023

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £1,000 or more are initially recorded at cost.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Depreciation method and rate Land and buildings 2% or 10% straight line Furniture and equipment 10% straight line Motor vehicles 20% straight line

Stock

Stock is valued at the lower of cost and net realisable value.

24

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Northumbria Calvert Trust

Notes to the Financial Statements for the Year Ended 30 November 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.

Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

25

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Northumbria Calvert Trust

Notes to the Financial Statements for the Year Ended 30 November 2023

Financial instruments

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Current assets and current liabilities are subsequently measured as the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost.

Pensions and other post retirement obligations

The Charity operates a defined contribution scheme for the benefit of its employees. The costs of contributions are recognised as an expense in the period in which the related service is provided.

3 Income from donations and legacies

Donations and legacies;
Donations
Donations and legacies;
Donations
Legacies		 Unrestricted
funds
General
£
69,141
69,141
Unrestricted
funds
General
£
137,401
7,000
144,401		 Restricted
funds
£
87,880
87,880
Restricted
funds
£
76,475
-
76,475		 Total
2023
£
157,021
157,021
Total
2022
£
213,876
7,000
220,876

26

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Northumbria Calvert Trust

Notes to the Financial Statements for the Year Ended 30 November 2023

4 Income from charitable activities

Centre accommodation
Respite care
Self-catering chalets
Centre accommodation
Respite care
Self-catering chalets
5
Investment income
Interest receivable and similar income;
Interest receivable on bank deposits
Interest receivable and similar income;
Interest receivable on bank deposits		 Unrestricted
funds
General
£
365,437
611,704
448,107
1,425,248
Unrestricted
funds
General
£
266,098
585,074
530,442
1,381,614
Unrestricted
funds
General
£
1,711
1,711
Unrestricted
funds
General
£
151
151		 Total
2023
£
365,437
611,704
448,107
1,425,248
Total
2022
£
266,098
585,074
530,442
1,381,614
Total
2023
£
1,711
1,711
Total
2022
£
151
151

27

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Northumbria Calvert Trust

Notes to the Financial Statements for the Year Ended 30 November 2023

6 Other income

Insurance claims
Insurance claims		 Unrestricted
funds
General
£
879
Unrestricted
funds
General
£
47,957		 Total
2023
£
879
Total
2022
£
47,957

7 Expenditure on raising funds

Other direct costs
Other direct costs		 Unrestricted
funds
General
£
6,515
Unrestricted
funds
General
£
13,682		 Total
2023
£
6,515
Total
2022
£
13,682

28

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Northumbria Calvert Trust

Notes to the Financial Statements for the Year Ended 30 November 2023

8 Expenditure on charitable activities

Designated Unrestricted Restricted Total Total
funds funds funds 2023 2022
£ £ £ £ £
Direct Costs:
Instructors & respite salaries - 404,010 65,000 469,010 445,049
Domestic salaries - 91,761 - 91,761 72,525
Catering salaries - 89,989 - 89,989 62,381
Provisions - 69,618 - 69,618 53,929
Commission - 51,274 - 51,274 63,902
Bar and shop - 6,061 - 6,061 7,104
Activity costs - 19,112 5,020 24,132 20,844
Sub-total - Direct costs - 731,825 70,020 801,845 725,734
Support Costs:
Salaries - 235,439 - 235,439 257,905
Staff training - 3,862 - 3,862 5,152
Rent and rates - 19,495 - 19,495 27,086
Motor and travelling - 20,492 - 20,492 17,590
Light and heat - 172,045 - 172,045 163,649
Telephone - 20,624 - 20,624 20,066
Repairs and renewals - 112,150 - 112,150 109,270
Postage, printing & stationery - 12,984 - 12,984 13,091
Advertising and promotion - 4,023 - 4,023 10,489
Sundry expenses - 15,236 - 15,235 32,657
Insurance - 71,684 - 71,684 65,881
Cleaning materials - 9,094 - 9,094 9,080
Auditors remuneration - 11,000 - 11,000 5,800
Support costs VAT - 15,691 - 15,691 16,966
Bad debts - 8,012 - 8,012 9,144
Loss/(Profit)
on
assets		 sale of fixed - (8,101) - (8,101) (2,500)
Loan interest - 7,860 - 7,860 3,112
Depreciation - 261,774 - 261,775 246,910
Sub-total - Support costs - 993,364 - 993,364 1,011,348
Total - Direct and support costs - 1,725,189 70,020 1,795,209 1,737,082

Total expenditure in 2022 of £1,737,082 comprised unrestricted expenditure of £1,644,082, and restricted expenditure of £93,000.

29

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Northumbria Calvert Trust

Notes to the Financial Statements for the Year Ended 30 November 2023

9 Trustees remuneration and expenses

During the year the charity made the following transactions with trustees:

G King

£176 (2022: £Nil) of expenses were reimbursed to G King during the year.

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

10 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries
Social security costs
Pension costs		 2023
£
822,216
52,796
51,187
926,199		 2022
£
738,524
54,568
44,769
837,861

Of the staff costs disclosed above in both years, £40,000 has been capitalised as part of the chalet project management and removed from the expenditure shown in the SOFA (and salary costs shown in Note 8).

The monthly average number of persons (including senior management team) employed by the charity during the year was as follows:

Service
Administration
Call in / Part time
Seasonal		 2023
No
25
5
3
1
34		 2022
No
19
5
3
1
28

The number of employees whose emoluments fell within the following bands was:

£60,001 - £70,000 2023
No
1		 2022
No
1

The total employee benefits of the key management personnel of the charity were £95,021 (2022 - £145,507).

30

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Northumbria Calvert Trust

Notes to the Financial Statements for the Year Ended 30 November 2023

11 Auditors' remuneration

Audit of the financial statements
Other fees to auditors
All other non-audit services		 2023
£
8,250
2,750		 2022
£
5,800
2,700

12 Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

13 Tangible fixed assets

Cost
At 1 December 2022
Additions
Disposals
At 30 November 2023
Depreciation
At 1 December 2022
Charge for the year
Eliminated on disposals
At 30 November 2023
Net book value
At 30 November 2023
At 30 November 2022		 Land and
buildings
£
6,706,534
176,221
-
6,882,755
2,894,183
139,634
-
3,033,817
3,848,938
3,812,351		 Furniture and
equipment
£
2,409,646
34,169
-
2,443,815
1,665,764
118,884
-
1,784,648
659,167
743,882		 Motor
vehicles
£
218,716
19,772
(15,997)
222,491
200,277
3,256
(9,598)
193,935
28,556
18,439		 Total
£
9,334,896
230,162
(15,997)
9,549,061
4,760,224
261,774
(9,598)
5,012,400
4,536,661
4,574,672

31

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Northumbria Calvert Trust

Notes to the Financial Statements for the Year Ended 30 November 2023

14 Stock

Stocks
15 Debtors
Trade debtors
Prepayments and accrued income
Other debtors		 2023
£
18,474
2023
£
48,185
12,683
10,349
71,217		 2022
£
19,060
2022
£
55,577
60,902
17,026
133,505

16 Cash and cash equivalents

Cash on hand
Cash at bank
17 Creditors: amounts falling due within one year
Bank loans
Trade creditors
Other loans
Other taxation and social security
VAT repayable
Other creditors
Accruals and deferred income		 2023
£
300
989,998
990,298
2023
£
14,630
45,315
4,836
18,602
1,272
9,465
195,261
289,381		 2022
£
300
1,102,194
1,102,494
2022
£
14,151
51,352
4,836
21,282
3,401
10,979
160,700
266,701

Creditors due within one year includes the following liabilities, on which security has been given by the charity:

charity:
2023 2022
£ £
Other loans 4,836 4,836

Other loans are secured by a fixed charge over the property in Butteryhaugh, Hexham, Northumberland, NE48 1HG which is included in fixed assets.

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Northumbria Calvert Trust

Notes to the Financial Statements for the Year Ended 30 November 2023

Deferred income at 1 December 2022
Resources deferred in the period
Amounts released from previous periods
Deferred income at year end
18 Creditors: amounts falling due after one year
Bank loans
Other loans		 2023
£
146,923
174,042
(146,923)
174,042
2023
£
94,485
76,406
170,891		 2022
£
150,337
146,923
(150,337)
146,923
2022
£
107,462
82,541
190,003

Bank loans outstanding at the year-end include instalments due after more than five years of £9,565 (2022 - £15,463).

Other loans outstanding at the year-end include instalments due after more than five years of £55,883 (2022 - £60,719).

A Bounce Back Bank loan of £50,000 was drawn in June 2020. The loan is interest free for 12 months and then is charged at 2.5% pa. The loan is repayable over 10 years.

A Bank loan of £100,000 was drawn in June 2020. The loan interest is fixed at 3.84% pa and is repayable in two separate tranches; £44,213 is repayable by monthly instalments over 5 years to July 2025; and £55,787 is to be paid on the maturity date with interest only repayments made monthly.

The Other loan of £109,250 was drawn in September 2017. The loan interest is fixed at 2.11% pa. The loan is repayable over 20 years.

Creditors amounts falling due after more than one year includes the following liabilities, on which security has been given by the charity:

Other loans 2023
£
76,406		 2022
£
82,541

Other loans are secured by a fixed charge over the property in Butteryhaugh, Hexham, Northumberland, NE48 1HG which is included in fixed assets.

33

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Northumbria Calvert Trust

Notes to the Financial Statements for the Year Ended 30 November 2023

19 Obligations under leases and hire purchase contracts

Operating lease commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

Land and buildings
Within one year
Between one and five years
After five years
Other
Within one year
Between one and five years		 2023
£
588
2,351
16,968
19,907
3,245
4,111
7,356		 2022
£
588
2,351
17,537
20,476
2,520
5,460
7,980

20 Pension and other schemes

Defined contribution pension scheme

The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £51,187 (2022 - £44,769).

Contributions totalling £9,465 (2022 - £10,975) were payable to the scheme at the end of the year and are included in creditors.

34

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Northumbria Calvert Trust

Notes to the Financial Statements for the Year Ended 30 November 2023

21 Funds

Unrestricted funds
General
Unrestricted Fund
Designated
Fixed Assets
Refurbishment Fund
Total unrestricted funds
Restricted funds
Growth Fund
New Buggy
Revenue Fund
Total restricted funds
Total funds		 Balance at
1
December
2022
£
563,755
4,574,672
60,328
4,635,000
5,198,755
170,228
-
4,044
174,272
5,373,027		 Incoming
resources
£
1,497,195
-
-
-
1,497,195
2,500
15,360
70,020
87,880
1,585,075		 Resources
expended
£
(1,731,704)
-
-
-
(1,731,704)
-
-
(70,020)
(70,020)
(1,801,724)		 Transfers
£
121,900
(38,011)
89,672
51,661
173,561
(172,728)
(833)
-
(173,561)
-		 Balance at
30
November
2023
£
451,146
4,536,661
150,000
4,686,661
5,137,807
-
14,527
4,044
18,571
5,156,378

The specific purposes for which the funds are to be applied are as follows:

The Fixed Assets Fund- This fund represents the book value of the Tangible Assets held in the accounts.

The Refurbishment Fund - This fund is for major maintenance and replacement work outside the normal annual budget.

The Growth Fund - This fund is for new projects that support the future development of the Trust.

The Revenue Fund - This fund provides support for revenue costs and includes Bursaries.

£231,286 has been transferred to the general fund being £172,728 from the Restricted Growth Fund and £38,011 from designated funds, in conformity with the Trust's policy of holding fixed assets within this fund; the restrictions no longer applying following the defrayal of funds for the purchase of the fixed assets,

£19,714 has been transferred from the designated Refurbishment Fund to represent expenditure made on major maintenance and replacement work outside the normal annual budget. During the year the trustees decided to uplift the fund £109,386 from unrestricted funds to have a carry forward balance of £150,000.

£833 has been transferred from the New Buggy restricted fund as only the deposit was paid at the year end, with the balance to be released next year when the buggy is delivered and paid for.

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VirtualSignature Transaction Ref. TG56-YCSR-T6WG 28 Mar 2024 13:51:57 GMT (UTC +0) D 3/3 P 38/39

Northumbria Calvert Trust

Notes to the Financial Statements for the Year Ended 30 November 2023

22 Analysis of net assets between funds

22 Analysis of net assets between funds
Unrestricted
General
£
Designated
£
Tangible fixed assets
-
4,536,661
Net current assets
622,037
150,000
Creditors over 1 year
(170,891)
-
Total net assets
451,146
4,686,661
Unrestricted
General
£
Designated
£
Tangible fixed assets
-
4,574,672
Net current assets
753,758
60,328
Creditors over 1 year
(190,003)
-
Total net assets
563,755
4,635,000
23 Analysis of net funds
At 1
December
2022
£
Cash at bank and in hand
1,102,494
Debt due within one year
(18,987)
Debt due after more than one year
(190,003)
Net funds/(debt)
893,504
At 1
December
2021
£
Cash at bank and in hand
1,427,129
Debt due within one year
(18,522)
Debt due after more than one year
(218,243)
Net funds/(debt)
1,190,364		 Restricted
£
-
18,571
-
18,571
Restricted
£
-
174,272
-
174,272
Financing
cash flows
£
(112,196)
(479)
19,112
(93,563)
Financing
cash flows
£
(324,635)
(465)
28,240
(296,860)		 Total funds
£
4,536,661
790,608
(170,891)
5,156,378
Total funds
at 30
November
2022
£
4,574,672
988,358
(190,003)
5,373,027
At 30
November
2023
£
990,298
(19,466)
(170,891)
799,941
At 30
November
2022
£
1,102,494
(18,987)
(190,003)
893,504

36

VirtualSignature Transaction Ref. TG56-YCSR-T6WG 28 Mar 2024 13:51:57 GMT (UTC +0) D 3/3 P 39/39

Northumbria Calvert Trust

Notes to the Financial Statements for the Year Ended 30 November 2023

24 Related party transactions

During the year the charity made the following related party transactions:

The Calvert Trust

The Calvert Trust is a sister charity of Northumbria Calvert Trust. During the year The Calvert Trust made donations of £Nil (2022 - £Nil) and Northumbria Calvert Trust recharged fundraising expenses of £Nil (2022 - £4,344). Northumbria Calvert Trust paid expenses on behalf of The Calvert Trust of £1,100. (2022- £Nil). At the balance sheet date the amount due was £Nil (2022 - £Nil).

Exmoor Calvert Trust

Exmoor Calvert Trust is a sister charity of Northumbria Calvert Trust. During the year Exmoor Calvert Trust received donations of £1,161 (2022 - £Nil) and Northumbria Calvert Trust recharged fundraising expenses of £4,364 (2022 - £795). At the balance sheet date the amount due was £Nil (2022 - £Nil).

The Lake District Calvert Trust

The Lake District Calvert Trust is a sister charity of Northumbria Calvert Trust. During the year The Lake District Calvert Trust received donations of £273 (2022 - £Nil) and was recharged fundraising expenses of £2,264 (2022 - £1,680). At the balance sheet date the amount due was £Nil (2022 - £Nil).

Kielder Water & Forest Park Development Trust

Kielder Water & Forest Park Development Trust is a related party by virtue of P Cockerill being a director of Northumbria Calvert Trust and a director of Kielder Water & Forest Park Development Trust. During the year Kielder Water & Forest Park Development Trust received donations of £4,658 (2022 - £15,159). At the balance sheet date the amount due was £Nil (2022 - £Nil).

37