| Page | |||
|---|---|---|---|
| Reference and Administrative Details ofthe Charity, |
its Trustees and Advisers | ||
| Trustees' Report |
2-5 | ||
| Independent Auditor's |
Report on the Financial Statements | 6-9 | |
| Statement of Financial | Activities | 10 | |
| Balance Sheet | |||
| Notes to the Financial | Statements | 12-23 | |
| Appendix I - Schedule |
of properties | 24 | |
| Appendix II - Schedule |
of investments | 25 |
| REFERENCE AND | REFERENCE AND | ADMINISTRATIVE DETAILS OF THE CHARITY, ITSTRUSTEES AND ADVISERS |
ADMINISTRATIVE DETAILS OF THE CHARITY, ITSTRUSTEES AND ADVISERS |
ADMINISTRATIVE DETAILS OF THE CHARITY, ITSTRUSTEES AND ADVISERS |
|---|---|---|---|---|
| For the year ended 31 March 2021 | ||||
| Trustees | Mr SJ Lightley, Chairman |
|||
| Mr N Paton, Vice Chairman | ||||
| Ms Rachel Amey (appointed | 31 October 2020) | |||
| Mr A Birkmyre | ||||
| Mr Giles Curson Hunter |
||||
| Dr Hazel Jones- Lee | ||||
| Mrs Claire Stephanie Penn |
||||
| Dr M Pitkethly (resigned |
31 | October 2020) | ||
| Charity registered | ||||
| number | 512217 | |||
| Principal office | 5 - 7 Osborne Terrace | |||
| Newcastle upon Tyne |
||||
| NE2 1SQ | ||||
| Independent | auditor | Ryecroft Glenton | ||
| Chartered Accountants |
||||
| 32 Portland Terrace |
||||
| Newcastle upon Tyne |
||||
| NE2 1QP | ||||
| Bankers | National Westminster Bank |
pic | ||
| 16Northumberland Street |
||||
| Newcastle upon Tyne |
||||
| NE1 7EL | ||||
| Solicitors | Mincoffs Solicitors | |||
| 5 - 7 Osborne Terrace | ||||
| Newcastle upon Tyne |
||||
| NE2 1SQ | ||||
| Clerk to the | Trustees | Timothy Rohan Gray | ||
| Deputy Clerk to the | Christopher Hughes |
|||
| Trustees |
| Endowment | Restricted | Total | Total | |||||
|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||||
| 2021 | 2021 | 2021 | 2020 | |||||
| Note | F | F | F | |||||
| Income and endowments | from: | |||||||
| Investments | 432,790 | 432,790 | 452,214 | |||||
| Other income | 7,767 | 7,767 | 7,799 | |||||
| Total income and | endowments | 440,557 | 440,557 | 460,013 | ||||
| Expenditure on: |
||||||||
| Raising funds | 20,094 | 20,094 | 24,183 | |||||
| Charitable activities |
420,463 | 420,463 | 435,830 | |||||
| Total expenditure | 440,557 | 440,557 | 460,013 | |||||
| Net income before | net gains/(losses) | |||||||
| on investments | ||||||||
| Net gains/(losses) | on investments | 361,862 | 361,862 | (1,170,428) | ||||
| Net movement in |
funds | 361,862 | 361,862 | (1,170,428) | ||||
| Reconciliation of |
funds: | |||||||
| Total funds brought | forward | 7,054,620 | 7,054,620 | 8,225,048 | ||||
| Net movement in funds |
361,862 | 361,862 | (1,170,428) | |||||
| Total funds carried | forward | 7,416,482 | 7,416,482 | 7,054,620 |
| 2021 | 2020 | |||||||
|---|---|---|---|---|---|---|---|---|
| Note | ||||||||
| Fixed assets | ||||||||
| Investments | 13 | 2,393,072 | 2,046,064 | |||||
| Investment property |
12 | 4,940,000 | 4,940,000 | |||||
| 7,333,072 | 6,986,064 | |||||||
| Current assets | ||||||||
| Debtors | 14 | 283,931 | 89,727 | |||||
| Cash at bank and | in | hand | 27,073 | 57,970 | ||||
| 311,004 | 147,697 | |||||||
| Creditors: amounts | falling | due within one | ||||||
| year | 15 | (227,594) | (79,141) | |||||
| Net current assets | 83,410 | 68,556 | ||||||
| Total assets less | current | liabilities | 7,416,482 | 7,054,620 | ||||
| Total net assets | 7,416,482 | 7,054,620 | ||||||
| Charity funds | ||||||||
| Endowment funds |
16 | 7,416,482 | 7,054,620 | |||||
| Total funds | 7,416,482 | 7,054,620 |
| Restricted | Total | ||
|---|---|---|---|
| funds | funds | ||
| 2021 | 2021f | ||
| Rent receivable | 362,429 | 362,429 | |
| Dividends | and interest on investment | 70,336 | 70,336 |
| Bank deposit interest | 25 | 25 | |
| 432,790 | 432,790 | ||
| Restricted | Total | ||
| funds | funds | ||
| 2020 | 2020 | ||
| Rent receivable | 362,476 | 362,476 | |
| Dividends | and interest on investment | 89,557 | 89,557 |
| Bank deposit interest | 181 | 181 | |
| 452,214 | 452,214 |
| Restricted | Total |
|---|---|
| funds | funds |
| 2021 f. |
2021f |
| 7,767 | 7,767 |
| Restricted | Total | ||||
|---|---|---|---|---|---|
| funds | funds | ||||
| 2020 | 2020 | ||||
| Reimbursement | of | insurance | premiums | 7,799 | 7,799 |
| Restricted | Total | |||
|---|---|---|---|---|
| funds | funds | |||
| 2021 | 2021f | |||
| Investment | management | fees | 12,326 | 12,326 |
| Outgoings | on investment | properties | 7,768 | 7,768 |
| 20,094 | 20,094 | |||
| Restricted | Total | |||
| funds | funds | |||
| 2020 | 2020 | |||
| Investment | management | fees | 13,161 | 13,161 |
| Outgoings | on investment | properties | 11,022 | 11,022 |
| 24,183 | 24,183 |
| 2021f | 2020 | ||
|---|---|---|---|
| Insurance | 7,768 | 9,436 | |
| Property | repairs | 1,586 | |
| 7,768 | 11,022 |
| Grants to | Total | |||||
|---|---|---|---|---|---|---|
| Institutions | funds | |||||
| 2021 | 2021f | |||||
| Payment | of | grants | to | institutions | 397,978 | 397,978 |
| Grants to | Total | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Institutions | funds | ||||||||
| 2020 | 2020 | ||||||||
| Payment of grants to institutions |
408,573 | 408,573 | |||||||
| 2021 | 2020f | ||||||||
| Vicar of the Parish of Saint | Matthew, | Newcastle | upon | Tyne under | |||||
| Regulation 25 (1)(a) ofthe |
1979 | Scheme | 400 | 400 | |||||
| The Governors | of Newcastle | upon Tyne Royal Grammar | School payment | ||||||
| under Regulation | 25 (1)(b) | of the | 1979Scheme | 1,000 | 1,000 | ||||
| The Governors | of the Newcastle | upon | Tyne Grammar | School | 210,186 | 215,802 | |||
| The Trustees ofthe Almshouses | Charity | 186,392 | 191,371 | ||||||
| 397,978 | 408,573 |
| Restricted | Total | ||||||
|---|---|---|---|---|---|---|---|
| funds | funds | ||||||
| 2021 | 2021 | ||||||
| Direct | costs | - | Grant | making | activities | 420,463 | 420,463 |
| Restricted | Total | ||||||
| funds | funds | ||||||
| 2020 | 2020 | ||||||
| Direct | costs | - | Grant | making | activities | 435,830 | 435,830 |
| Grant | ||||||||
|---|---|---|---|---|---|---|---|---|
| funding of |
Support | Total | ||||||
| activities | costs | funds | ||||||
| 2021f | 2021 | 2021f | ||||||
| Direct | costs | - | Grant | making | activities | 397,978 | 22,485 | 420,463 |
| Grant | ||||||||
| funding ot |
Support | Total | ||||||
| activities | costs | funds | ||||||
| 2020f | 2020 | 2020 | ||||||
| Direct | costs | - | Grant | making | activities | 408,573 | 27,257 | 435,830 |
| Total | ||||
|---|---|---|---|---|
| Activities | funds | |||
| 2021 | 2021f | |||
| Bank charges | 306 | 306 | ||
| Clerk's fees | 10,937 | 10,937 | ||
| Professional | charges | 2,499 | 2,499 | |
| Governance | costs | 8,371 | 8,371 | |
| Trustees' indemnity |
insurance | 372 | 372 | |
| 22,485 | 22,485 |
| Analysis of | support | costs (continued) | |||
|---|---|---|---|---|---|
| Total | |||||
| Activities | funds | ||||
| 2020 | 2020 | ||||
| Bank charges | 383 | 383 | |||
| Clerk's fees | 10,500 | 10,500 | |||
| Sundry expenses | 239 | 239 | |||
| Professional | charges | 7,876 | 7,876 | ||
| Governance | costs | 7,850 | 7,850 | ||
| Trustees' indemnity |
insurance | 409 | 409 | ||
| 27,257 | 27,257 | ||||
| Governance | costs comprise: | ||||
| 2021 | 2020 | ||||
| Governance | auditor's | remuneration | 4,475 | 4,350 | |
| Clerk's fees | 3,646 | 3,500 | |||
| Governance | Trustees' | remuneration | 250 | ||
| 8,371 | 7,850 |
| Auditor's remuneration |
|||||
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| Fees payable to the Charity's | auditor | for the audit ofthe Charity's | annual | ||
| accounts | 4,475 | 4,350 | |||
| Fees payable to the Charity's | auditor | in respect of: | |||
| VAT and other professional | services | 1,899 | 2,252 |
| 13. | Fixed asset investments | Fixed asset investments | Fixed asset investments | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Cash held | |||||||||
| Listed | for | ||||||||
| investmentsf | investment | Totalf | |||||||
| Cost or valuation | |||||||||
| At 1 April 2020 | 1,933,140 | 112,924 | 2,046,064 | ||||||
| Additions | 266,958 | (23,495) | 243,463 | ||||||
| Disposals | (251,320) | (251,320) | |||||||
| Revaluations | 354,865 | 354,865 | |||||||
| At 31 March 2021 | 2,303,643 | 89,429 | 2,393,072 | ||||||
| 14. | Debtors | ||||||||
| 2021 | 2020 | ||||||||
| Due within one year | |||||||||
| Rent and insurance | debtors | 172,554 | 60,375 | ||||||
| The Hospital of St Mary the Virgin Almshouses |
Charity | 6,056 | |||||||
| The Newcastle upon |
Tyne Royal Grammar | School | 4,828 | ||||||
| Other debtors | 50,966 | 7,726 | |||||||
| Due from Endowment | fund to Restricted | fund | 49,812 | ||||||
| Prepayments and accrued income |
10,599 | 10,742 | |||||||
| 283,931 | 89,727 | ||||||||
| 15. | Creditors: Amounts | falling due within | one | year | |||||
| 2021f | 2020 | ||||||||
| Due from Endowment | fund to Restricted | fund | 49,812 | ||||||
| Other taxation and social security | 779 | ||||||||
| The Newcastle upon |
Tyne Royal Grammar | School | 42,058 | ||||||
| The Hospital of St Mary the Virgin Almshouses |
Charity | 34,636 | |||||||
| Accruals and deferred | income | 100,309 | 79,141 | ||||||
| 227,594 | 79,141 |
| Balance at | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Balance at 1 | Gains/ | 31 March | ||||||||
| April 2020f | Income f |
Expenditure | f | (Losses) | 2021f | |||||
| Endowment | funds | |||||||||
| Permanent | endowment | fund | 7,054,620 | 361,862 | 7,416,482 | |||||
| Restricted | funds | |||||||||
| Restricted | funds | 440,557 | (440,557) | |||||||
| Total offunds | 7,054,620 | 440,557 | (440,557) | 361,862 | 7,416,482 | |||||
| Statement | offunds | - | prior year | |||||||
| Balance at | ||||||||||
| Balance at | Gains' | 31March | ||||||||
| 1 April 2019 | Income | Expenditure | (Losses) | 2020 | ||||||
| Endowment | funds | |||||||||
| Permanent | endowment | fund | 8,225,048 | (1,170,428) | 7,054,620 | |||||
| Restricted | funds | |||||||||
| Restricted | funds | 460,013 | (460,013) | |||||||
| Total offunds | 8,225,048 | 460,013 | (460,013) | (1,170,428) | 7,054,620 |
| Summary | offunds -cur |
rent year | |||||
|---|---|---|---|---|---|---|---|
| Balance at | |||||||
| Balance at 1 | Gains/ | 31 March | |||||
| April 2020f | Income f |
Expenditure | f | (Losses) | 2021f | ||
| Endowment | funds | 7,054,620 | 361,862 | 7,416,482 | |||
| Restricted | funds | 440,557 | (440,557) | ||||
| 7,054,620 | 440,557 | (440,557) | 361,862 | 7,416,482 |
| Summary | offunds - prio |
r year | |||||
|---|---|---|---|---|---|---|---|
| Balance at | |||||||
| Balance at | Gainsi | 31March | |||||
| 1 | April 2019f | Incomef | Expendituref | (Losses) | 2020 | ||
| Endowment | funds | 8,225,048 | (1,170,428) | 7,054,620 | |||
| Restricted | funds | 460,013 | (460,013) | ||||
| 8,225,048 | 460,013 | (460,013) | (1,170,428) | 7,054,620 |
| Analysis of net assets between funds -curr |
ent year | ||
|---|---|---|---|
| Endowment | Restricted | Total | |
| funds | funds | funds | |
| 2021 | 2021 | 2021 | |
| Fixed asset investments | 2,393,072 | 2,393,072 | |
| Investment property |
4,940,000 | 4,940,000 | |
| Current assets | 133,222 | 177,782 | 311,004 |
| Creditors due within one year | (49,812) | (177,782) | (227,594) |
| Total | 7,416,482 | 7,416,482 |
| Analysis | of net assets be | tween funds - prior |
year | |||
|---|---|---|---|---|---|---|
| Endowment | Restricted | Total | ||||
| funds | funds | funds | ||||
| 2020f | 2020 | 2020 | ||||
| Fixed asset investments | 2,046,064 | 2,046,064 | ||||
| Investment | property | 4,940,000 | 4,940,000 | |||
| Current assets | 68,556 | 79,141 | 147,697 | |||
| Creditors | due within one year | (79,141) | (79,141) | |||
| Total | 7,054,620 | 7,054,620 | ||||
| 19. | Financial | instruments | ||||
| 2021 | 2020 | |||||
| Financial | assets | |||||
| Financial | assets measured | at fair value through | income and expenditure | 2,303,643 | 1,933,140 |