Chanty registration number 527411 ST HILD AND ST BEDE TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ST HILD AND ST BEDE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Canon L Burton Mr G Carter Ms S Ciww Prof. S FcKrest Dr A Fowler Miss S Milner Mr P RKkeard Ms E Soulsby Mr M Sland MrJ Walsh Revd E Wthinson Charlty Thurn￿r 527411 Audltor Al￿n Sykes Audit Ltd 5 Henson Close South Church Enterpnye Pa Bi8hop Au¢kLqnd c￿nty Durham DL14 6WA 8ank•rn PO 8ox 250 Delf Ht)US8 Soulhway SkelmeTsdale 86WT ST HILD AND ST BEDE TRUST CONTEKrs Trustees, Report Statement of Trustees. responsibilities Independenl Auditorf8 report Statement of Financial Activftie8 Balance Sheet 10 Notes to the Financ4al Statements ST HILDAND ST BEDE TRUST TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2025 The TNst•es pr08enl I￿r amual re￿rt and finanwl stat•m￿ts for the yw ended 31 IAarth 2025. Th8 I￿a￿l* 8tatenwits haw in ar0)rdA￿ WTth the ac£ryJntrng 8et out in note I lo the lIna￿ls[ statThnts and c￿￿pty with Ih• Trusfs goveming d￿Umant, the Ch8ritie5 Act 2011 ￿d.AccOunting and ReportirKJ by CharilN%.' Statwmnt of Recc¥nrnend&J practi￿ appllcabl8 to tharths preparing Ihèir accounts in accord8rth wth Ihe Financial Raportlng Stsndard appluble in the UK And RewblK of I￿10￿d IFRS 102). (effective 1 January 2019). Oblectlve8 and acfjvttl• The Tru8t'$ obieclfve IJJ the atfvanc¥m8nt ol hrgher and fvrther &Jucation in th• arèa CoMpr￿1r￿j the Diocgses of Durham and in $uch ways as th• manggng TnJstee8' mayfrom time ￿ time detem)ine. Th8 poII¢¥ 8doplfr in furtherance of thw4 obiethe 18 th¥ advarument ol e£lLralion in ¥cordanc• wth the d¢￿rI￿3 of the Church of Englan¢J and noodg ol slud¥nls undeffgoro traInI￿ a$ tsacfrws. paroojlarly of Itw arn member8 of th• Uniyorsty. Trre has t*¢n in the80 d￿rIng the year. Thè Tw5tee8 h8ve p8id due regard to th• g[1d￿ on public b•n•fil18swJ ty the Charity Comm188fon in deddlt whal a¢tivthes the TN81 sPthkt undertake. Grnnts w•re mède as shM bekiw. North E4#t R•llg1o￿ L•amlng C•ntr• Limlt•d Chwtty rwmber 11)5285, comp&YN number 3188730. Thè tsvo ￿SOUrce ¢8ntr•8 at ￿rharn ond N6wc•¥ll8 ère run j(xnty and compris? Materia￿ for refere￿ or Joan lo IhoBe in tha areg Invofv8d in r81ig*)uo •d￿&tiOn arKI mlnraty In Church of EngLgnd. lh• provi8lM ol advice. guklar￿, ITaining and aJBigtanc¢ to th050 In¥0￿ed K) the teaching of rellgious educatKJn. InLTra8ingly th•lr spac6B ale UBed by small 9￿p&wiShIng lo stib* logetherand by those ￿Thing with Lini*$fomo Coljege offheology. £50,OCIJ 12024 £100,1hJOI wa8 p8ha tOW8idÉ th8s• Cen￿8, during the year. For 2425 the fimding enab18d the Tru8te08 of the Contre8 to consider Ih8ir luture Btrate9i¢*ly and devebp a y•ar pkn. Tr*ir alm6 Ind￿18.. Improvtng a¢ce88 10 th• re8ource8 and In(￿akn hekj developlng parth*r8￿Frf parbcuL8rty *ith the D•xe8an 808rd8 of Edwation In Durtwi dl¥er81fying fvn￿n9 Streams to reiluce reNan￿ on the Twsl Coll•g• of SL Hrkl and SL 8•d• £2.573 12024 £31.828) to the of Durtwm in f•8pect of lh8 ChapLg1n. The Chaplain nkni¢d b8¢k to pwi8h m*iibty aThJ • repl￿ement onty 8tart•J in W. 2025. Th& sx75t is no longer shared Ih the Dkjcese and a rnvisad model offuThSry 8FFty lorthjlure years. £2,OC¥) 12024 £2,400) in respoci of 0[9￿ 8¢hc48r5hip8 and £2,(W 12024 £2.IXK)} b) 8UPFo>1 Ihe Y￿rk of th¢ ch8plouilchoir. Fol￿ng the temporary r•lo¢th of Ihe Ihe C￿1r and ow8nists are worklng wth St Cuthbert'6 Durtwn and providirg music for 8grviw there during term tsme. fijndr.ng enabl8tJ thè rknir of 30 10 run and for th6 dlrector of music and orgonists to •j¥￿ th?Ir musk41 edu(atKM. All were able to incre888 Ihelr underBtanding aThJ exp•r5en¢e ol sacred n￿St¢ ￿thiN both Ihe w￿tr Colleg& ¢c¥nm￿1ty 8180 Sl CLrth￿rt'S. £2.CW12024 £2,000) in ol Thedogkol S¢lxAar3hip8 to Durhwn UnNerstty. For 2&25 tho awards anabjed exlsling students to continue Ih•ir S￿￿e8. SL Hlld'¥ College C of E School £10,0(K) 12024 t2,1711 Fundtng w85 award8d for a Iwo ye¥ project to develop a curriojlurn lor mixed age d8sse8 for all *knied8. knduding RE and ensuri￿ thal il meet8 thg rfftd8 of ￿1 la8mers. particularty those with SEND. Newea•tl• Dlo¢•••n Education Board £Si.CKJ3 {2024 £32.0401 to 81¥JPQrt the RE Ath18er to sch¢>)fs and academEs in the dtheses of Newcastk and Durham. Their work inckndad New Headte**gr iTrJuction8. se58ions on Plannlng and Leading Collecfvè IAbr8hip and Prtyarkn9 for SIAMS. a confvrence on Ewrty. DrveNty, ItKIu8ion and JusU￿ #nd tem)ly netrrtirk meetings foi RE thds in schools. Continulng minlgt•rl•l de¥elopm•ntledu¢atton withln th• ￿ of r￿rt￿rn £6,CO) (2024 £6,000). Thfy fiJndlThJ Supported tsvo der9y to train as spirilual directcvs, a number of to altend ￿urse8 and support for ￿ dodoral 5tLKlents not funded by Ihè Trust via fv wthklual gr￿1 s¢hemg. Contlnulng mln18teri•l fomiaoon T•lthln the Di0￿e of NeW￿$tIe £S.T1312024 £4.L)(KJ). Thts fiJTrJing gnabfed 68ries of public *tW88'Thedogy&° at Ne¥￿8$1￿ Catl*dral and supwred a rMm)ber of c*y wtth couTs8 fees for aca(1￿￿ $￿ty and cthef trainin9. ST HILD AND ST BEDE TRUST TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Chaplain¢y Pn>i•ct {Dw8e of Durtwn) £13.751 12024 £10.4￿1. year wr4ec* has he￿d c*urche8 Jild relab"onship3 local FE coleggs and deveknp F48￿ for chapLaiw. Supp￿ the de¥8k)pment of existin9 and ?t4￿tIal cha￿81￿ ￿ ￿ne scIb￿S and on¢ sth forn 0￿"ng a 18arr￿0 c4xM¥Jrity and peer supwl netythl, trained elght pecple in th8 Bth)ps Cetbficate kn ChaplaitKy * c(¥th"t￿d ol ￿ Ed[￿tronal Chapjaincy Enabler. The Dicwe has obta.ned Churth FE chaplaky prqects. buklthng on Ihe woth by Ihe Trust. Whithum Academy IRE T•ach•r Trnlnlng Hub) £3.(1)J W24 £3.(KKI). F￿dwIg mKtad a bursary to 8UPF*Jt studenls training to tèach RE. Chrl•tl•n Ed￿*tion (North Ea•t RE Hub) £15.24212024 £15.(P30) The ftvKlin9 slipp￿d the North East reglonal Hub a8 Wl ofa naticmal pw to wnpost to inloffr&•kn res(MwfA8 in Ihdr r89*)n to Support th8m in the loathing of RE. Tho R¢>o•t £10.87712024 nil) This 18 th8 fr81 year (Iwa￿ from 2&24 due to recTuitrMnt1s8wl of a planned th Br woject to develop sthool thaplarw In post-16 c¢ntre$ In Nort1￿Mberland, Tho ftjnding covered salary and exp#n8e8 for a de￿J0pM•￿t worker poJt. God and th• Blg B•ng £45,178 (2024 tw). Thi8 Is a n￿b)n* wcry8(a thldren opporbjnty to a8k questions abo￿ 8a6ncx and Chrigtian Falth. Tr furKlirvJ the $￿ary ofa Sthools Developmerbl Offur whose rol? fAwe¥ed the re¢ruitm¢nt and lrnlnlrw of undergraduate8 and W knvaduates n Dutham and N•w¢8811• 10 deliver sèuion$ in S￿￿10 in th9 Nc¥th East. Sund•rl•nd Llnlv•v•ity Chapl•lncy £1.43012024 nif) The fiJnding ombled 1S Jtudants to alteTrJ a Chaplalncy Retrnat f¢oJssing on prayer and enat4ing th￿ to tslk ab￿t t￿{r failh in a $UPPOftive environment. IndMdual• und•rtaklng po•tqrndu•ts •bJth•B £8.475 (2024 £7,¢)))). In assessbng fvr wan18 frcln indWug18. ￿ Tn￿8•$ sh811 gN• prnrity to.. 41 apF4kant4 undertaklr¥J research into the conlont rnetlhjd of Iwhin9 Jearring. eSP8cialty rgh'gKJu8 ￿￿C81￿)n. bl Ap￿ICants urKl•rtaking course8 In tea¢her trainin9, e8p6¢ialty In rekgious •ducation and atso tr8ining for Christian Ministry {ord8ineil of a¢credrfedl if grnnts are not av81kgb￿ from other $owc•8. The Twt wiff not normalty a8W81 applirAnts who hav8 alwty comF4trted similar proi•¢ts or o)urMs •t a parti￿￿9[ levol l•.g. FE or HE or r•8ear¢hl to undartakt addit￿￿1 courses Lv proi•cts al the ume level. Achlev•m8nts and ￿rIornian¢• The overall market valu• of deueased from £9,722,815 on 31 M•th 2024 10 £9,3S3.642 on 31 IAarch 2W25. H¢)wev8r. Inve8lnwit incomo h98 irK¥•as&J slighty ¢yM the pgnod. Flnan¢l•l rovi•w 11 18 th& p)Ilcy of the Trnst that unrestriL*fyd lund• vthich ha￿ not b•an d86*n8led for a 8p•Of￿ u80 sh￿Id maintained at a level equivalent lo L*tweon Ihree months exptnditurtr. Tf* Trustees eonsl¢Jor that r&ser¥e8 at this ￿¥81 will enJU￿ that. the eveni of a S￿an￿rAnt drop li irN¢8tmenl wuime, th•y wil bè able lo continue Ihe Tru8f$ currenl a￿￿'e3, whil• pLgnniry to offer redw¥d I￿￿18 of fi￿re gr•rt fuThJirg. ltrv81 ol rese￿8& ha$ t￿n m8lntsined 1hroug1￿)ut tho year. At 31 M8rth 2025 ch8rlty ha8 fre• rpseryes of£35722212024 £310.246) *filch is bel*v¢d lo b• kn ex¢e3s ofth8 19vel rnqUI￿ per the above mrv88 0￿y. The Tru8tee8 have made u8• ofa CLwratp* Bfj￿ d8posil 8¢>J￿nt to b￿efft froffl th• hth•r r•ta$ oflnt•reBt availabl¢. whiJBI maint8irlng instant a(%e88 lo fund•. In accord￿0 tm Charity Commis8ionors' Sthfft. the TwBt ha$ thg lo make ￿Y investment which th Tru91￿ see fft. There been ￿ thanges to investrnents in recent years. Rbk Manag8mont The TIu8lees hav& assassed the rwor risk¥ to tr* Trwt IB a￿1 are Satisfied that $ystem¥ ar• in place to mitigat¥ exposure lo the ma￿1 rryks. Poll¢y Documonts An updated Reten*on p￿￿, updated Safe9uwdl￿ Polw, frNmal Re8W￿ ¥n Snlwim Inve5tm•nt Pol We￿ 8pprDved at th8 DeCeM￿r 2024 Trnslee meeting. As recornm￿￿ by the 23.24 8udit a Fra￿, 8ribory and Theft Policy will be C4Jnsrdered at ￿ Auiumn W25 Tru8te• rwry. ST HILD AND ST BEDE TRUST TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Strnctur•, governan￿ •nd managomont The Trust 58 a Chvity. The TrL*tee8 who s•N•d (hjring thg yoar and up to tho date of sty3n8ture ofthe fThncy•l statsm•nts ￿re.. Canon L Burton Mr G Carter lappolnled 22 January 2025) Rev D Clgugh (appointed 29 July 2024. rn￿gned 31 Drf•mber 2024) Ms S Cooper Prof. S Forre8t Dr A Fowler Rt Rev H Hartley (￿￿gnfjd 22 July 20241 Mi8s. S Milner Mr P Ri¢keard Rev. D Rushton (re81oned 18 June 2024) M8 E Soulsby Mr M Stand Mr J Watr8h Revd E Wlkinson l4pwnl•d 5 December 21Y24) Th• L￿￿arn DkJc¢88n 8oard of FlnAnt* is th• Cu8to(lan Trustee of ts charity. The bjdy of managirvj Truste￿. whK* adriThtsrs thts Charity. c￿111￿ c4)mFlot• 0114 cornpet•nl pef8on8 belng.. F￿r ex-offldo Tru8tee8.' The Right Rovd eislw of DLtham. Th• Rlghl Revd Lord B&hop of Newca￿8. T ViceryChanc•llor of Ihe UnNer8ity and The Prlndpal ol tho Cdlege of St. Hild and St. Bodtr Sev&n nominative Tru8tee$.. Tw) nomlnated by th• Durham D10c￿n Bowd of E¢knation, Two by the NeW￿tre Dioce88n Board olEduc4tion. One ty th• Dutham Di0¢8san B08rd ol Frnanca, One by the New¢a8lb DI￿88n Board of Finaru and Ong by the D•an and Chaplei of fv catt￿1r81 Church of Christ and 81&88•d Mary th? ￿}n, at Oufftam. A nominativ¢ TnMt8a nw be txrt rK4 need to be. a memb•r of th• 8ppoinllrw bothy 8r&l sh•ll hokl Off￿ for a term of four year8 Thr•e c￿¢ptaI1¥fj TrLMtte8'. CTroptsti¥e TrLtyl•eB •l•o b• apptyntf•J h)r a tom offour yearn A cknrk k8 app)inted by the TruBtQ98 to manage the day lo *Jay opornlwm of thè Cl4rity. Mr8 Franc*8 Slenlakfr h88 served a6 dork ¢M 8 ￿rmanent basis ¥ince 1 2022. By vithe of wveman(x. the Or￿ls8t￿M ho8 a conslltu￿I thaffty, the Robgrt Th￿￿p50ft Memorlal Fund. Th• purp08e of the ￿ns￿'tUe￿I to *ward priz￿ lo students at the Outham Unp4wsity w￿) arè dèser¥ing of r￿ard or dl8bndh?n by rea￿n oflheir Fknnce in t••¢hing pro¢t*x'. regar(l hau lo ct¥gr&Xer, potential toachi￿ ablllty and C￿tribUll0n to tho comrn￿ty Iffg of the unfversity. New TruBte¢$ are erthuraged to l¥milkgrhg themsefve8 with tho *m6 of the Charity ty 8luOying the Inducti(x) information gI￿n to Ihgm. The Tw81 ￿b$lIe provkles further guklants. Ful Trust¢es me8ting• hdd in perxx) on P Det￿ber 2Q4 and 13th March 2025 The Tru8te&s 8160 met vla Zoom on 7th May 2024, primarily to discus8 hJrKlir@ for Ihe Cdlège of St Hild and St Bede. on 15th Juty 2024 to discLffjS funding lor NERLRC. on 29th Juty 2024 lo dl8CUS8 h)dr￿dUal ￿nt apph'calKTh on W January lo approve the 2024 account8. Dlg¢losurn of Inforniatlon lo audltor Each oflhe tvustee$ has confirned that there Is no inforynakn of vthich they we aware wthich 1$ relevant to the a￿15t but ofwhich the audrtor is un•are. T￿Y have furtherconfirm8d Ihatthey havelaken app¥opri¥te $18PS to idenlty $utti r•levant infprmation arHJ to 8st*liBh Ihat IM audlfor is ￿1• of inhnnathjn. The Tn13fees' wort wa$ app￿¥￿￿ ty tho Boanl of Try￿lee& Ch8lrol Daled.. e frust8&s ST HILD AND ST BEDE TRUST STATEMENT OF TRUSTEES REPONSIBILrriES FOR THE YEAR ENDED 31 MARCH 2025 Th8 Tntstees are re8pon¥ble for ￿parir￿ the Tr￿. ReFX*t and the finandal slatements in accordance whh gpplicab￿ law and Unitod KIWOM Ac￿UntIng Stsndarfs IUnit&* ￿ngdorn Gweralty Acceptèd Aw)unling Pr*ic81. The law applTcable lo chartbes in EnglaThl and Wales requires Ihe Trustees to piepare financi81 statements for each financial year which give a true and lair view ol the $tsle of 8ffairs of the Tntsl and of Inc￿rting resour￿ and appl'cath)n of r•8wces oflhe Tntst ts tlwt yw. In prepadrvJ these slatwnents, tho Tnotee8 arn rewired to: . 88lact 8Urtat4e ￿nt￿9 w￿1ClaS oTrJ tlw appty them con8iStentr. . ob8erye the mottb>th and p￿￿4r4&S In th• Charith SORP." . m8keludgements aNJ 08timate8 that ar• roastyth pnmkrt . 8lata vthether aFplicable a¢CO￿ting $trndards have boffi 1th￿d. #￿48¢1 tts any matorfal ￿9￿rtUreS dlK408ed arml explalnéd in th• fina￿la1 8tat8ment8,' - prepare Ihe finan¢lal slot*nents tho gory bwi8 unleM il Is inapprop¥iate to pre8um• thal th8 ¢hartty vhll The Tru8tee8 gr6 rn$ponslble for keepng suffioent acwJntir4 re¢oTd8 that th"8c408• w#h reasonab￿ t￿Y lime the fintnctal posifjon of lh8 Trust ènd ¢nab* them lo ensure thgt thg finanoal stsleThnls CoM￿Y wmh Ihe Ch8rilhryS Act 2011, the Charity (ACCO￿ts and R¢portsl RegulatW￿3 2￿ and the of tha tmst deed. Thty ar• also re8p)n8ibb lof 8af8gu•rdlrvJ th8 a$8ets oftPo Trust •nd hm fortsklrKJ r•o8onable Sleps for ltte pwenlion and deteth'on of fraud And other irrsgwlarrti88. ST HILD AND ST BEDE TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF ST HILD AND ST BEDE TRUST Oplnlon We have audi18d the financi￿ statements of St Hild and St Bede Tntst {the '¢harity) for the year endèd 31 March 2025 %thich comprise the Statement of finawal xtmtses, statement of financial ws*tson and the relalgd notes, including a summary of 8ignifjcarrt acuyjnlirg ￿￿e$. The finaTrid reporting framework that has been awled in their PTeparation is appl￿ble law and Unrted Kingdom AttwrrtlrKJ Standards, inclu& FRS 102 The Financial ReE¥￿ir￿J Standard applicable in the UK and RapublK of Iroland (United IQWt)m Gerwally Accepl&J Accryjnts'ng Pr•Xce). In our oplnicn the finanad sthmerts.. gNe a tru8 and fair vlthv of stsle of the charity'8 affairs as a131 March 2025 and of its Incomlng resources •nd applicatron of reS￿r¢88. inclL#Jing its irK(￿a and expeThJrture, for th8 year thèn ended.. have been prepar•d in &cordarKe *ith United ￿￿Jd0rn Gonwalty Accepted A¢countlng Pradice.. have te•n prO￿red In accordan¢• the requirem6nt8 oftha Chadbe• Act 2011. Ba•1• for oplnlon We conduct&J our audtt in acctydartt V*ith Intèmatl￿I Standard8 on Auditsng IUKI IISAS IUKII and applicable law. Ow ro8ponsibrlilies under th080 St*hJards are further descrlbed in tho audltorf8 re8ponsikilille8 forthe audrt ofll* finawal ststements sectron olwr rep￿. We are independ8nl oflhg charity in accordance with the ethical requirements thal are rdevant to our audr¢ of the financial 8tatsments in the UK, Including Ihg FRC'S Ethlcal Stsndard. and fiJlfill&J ourolherethical re8pon$ibillUe8 in ￿elY(lanCe vlth t￿80 requir8ments. Wo belleve that the audtt have obtslned 18 Sufficient and appropriats lo provlde a b8918 ￿ our opinion. Conclu•lon• rnlatlng to golTrJ conc•rn In a￿￿11•ng th8 financial statements, vffj have Concluded bw ￿ tru6teos' ua• of the wng conc6m ba818 01 accounting in the preparallon of the finawal statem￿rtI 18 appropriat¢. Based cn the work we have performed. we have not id8ntffied any material unc•rtaintie8 relab'ng to events or condifjon8 that, Individually or cdlectively, may cast signifi¢arrt doubt on the charity's akn'lity to continue a$ goir*J concem for a period of at least h4rlve mtxth8 from ￿en ts ffnanual ststemènts ara aLrthor18ed for issu8. Our responslbillliès and the r68ponslt¥lillès of th• InJ8lee8 re8M lo going are detscthd In tho relevant 8eclions ol this r8&x)rt. Oth•r Infomiatlon The other infofmab'on ¢omfv thg infc¥mth"on inr1￿ In the annud rep￿ other than the financiol slatements and our auditorf8 report thewn. The trusteès are respMs1b￿ for the other inform8tion c¢￿ts1ned thin the 8mual report. Our opinion C￿ the financial 8tsteM￿ts does not ¢over the olhef Inf￿matIOn and. except lo the extent othenM8e exF4icitiy staled in our r8F*¥t, V+P do not express any fomi gf assurance condusion thereon. Our responstbility is to read thè other infomialton and, in d(MrKJ so, consider ￿ether the other infmiion ig matsrially incon&8tent 7Mih the finartial 8tstements or our knowledge obtalned in the course of Ihe audtt, or Othe￿ise appears to be malerialty mi85tated. If V•t identify such material inconsistencies or apparent material misstatemBnts, ¥￿ are required lo determlne ￿ether this gives rise to a matenal misslalement In ttk financial statements themselves. If. based on the work we have pwformgd, Wg conclude that there is a matarial misstatem&rt ofthis other infmatlon. we aro rnquired lo r8pc#1 thattsct. We have nothing to rewt in this regard. ST HILD AND ST BEDE TRUST INDEPENDENT AUDrroR'S REPORT {coKfiNUED) TO THE TRUSTEES OF ST HILD AND ST BEDE TRUST Matt•rn on whlch w• ar• requlrfjd to report by exceptlon We have nothing lo report in ￿sPeCt of the folknmng matters In relatim to the Charitie8 {AcctyJnts ar¥J Reports) Règulations 2008 require us lo report lo you rf. in ¢)ur o￿nICKl.. the information given in the Iruslees, report is i￿SIstenI In any material resp8GI thrflh the linancial statements. or SLrff*cient accountln9 r8cords have rnt been kept." e* Ihe financi81 slalement5 are not in agreement with the aceounting records.. or we have not receNed 811 the info￿atiOn eWwtion8 we require for audiL RMponslbllhl•s of tn￿1• AS axplained more fully in Ihe stat￿ert oltrustee8' respongibilities. the tru5t888 are r8sN)n8iblg for the preparation of the financi81 staternents for Satisf￿ that they give a t￿￿ and fair view, ar*J for 8u¢h intemal control as the In￿tee8 detemiine is nece8s4ry lo enablg the prep¥atw of financial ststements Ihal arg free from malenal mls6tstemenl. wthelher du6 to fraud or errLY. In preporirvj thè financial ststements, the trustees ar8 respon81ble for a886ssing the ¢hanty's abilty lo C￿lInUe a8 a gcing ccwcern. tlisclosry, as 8p￿1￿*$1e, matters related lo going concern and using Ihg going concwn basis of accounbng iJnl888 the tru8t•es elth8r intwbj to Cease op8rations, or have ￿ realisti¢ alt•m8tive lyjt lo do 80. Audltof• r•8ponslbllltl•• for tho •udlt ol th• fln•nGlal •t*t•m•nl• Our objectlves arg to obtain reasonabie assurance ato¢rt whether the financial 8talem&*8 a8 a %thole are fro• from material misstatement, knlher due to frai•J or error, and lo issue an auditors report that includes our opinion. Reasonable assurance is 8 high bvel of 058urance, bLrt 18 not a 9uar8nl8e that an audlt ccnducted in accordance vAth ISA8 IUKI will 81wdy8 detect a m8terial misstatement when it exi8ts. Mi88tslemènts can arise from fraud c¢ error aThY are consldered maierial If. indMdu8lly or In the aggregato, they could rea8{￿blY ba e¥pectsd to influence tho econcxni¢ dgc18iM8 01 u8er8 taken on the ba81$ of these financial statements. Irregularrtles, Induding fraud. are irotarus ol non Nel oJTrent 8860ts 357,222 310.246 Totsl *•••ts l•M cury•nt Ith￿1 9,710,864 10.033,C61 C•pltsl I￿￿* Endowment hjnds Incom• fund• Unre8lrtcted fund# 8.984.160 9,323,915 740.704 709,148 9,710.864 10,033,061 .11.L•%r Th•finan¢Kll8t•tsmen¢8￿fa *Jproved bytheTwstse8 L￿..................... Dr A Fovler Ch•lr of Tru•*A•• 10 ST HILD AND ST BEDE TRUST NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 MARCH 2025 Ac￿U￿tIN4 Charlty InfomMt14)n St Hlld and St Bed& Tn￿ ts a Chorlty consliw ￿der Its Trust Deed. Aceounlln9 c￿ntIon The finanoal 81atem*rt8 have been piepared in accorda￿ wrth th8 Twsf$ gov6ming drxJJment. the CharilEs A(# 2011, FRS 102 The FIna￿la1 Repth"ng Stsn¢Jard appltabje *) the UK and Reputy1￿ of IrelaThr rFRS 1021 the chariti.es SORP 'Accounting and Repor￿n9 by Charitie8." Statement ol Recommended Prath"ce applrAbl• to preparing they o¢c￿nts in acCOrdar￿ wrth the Financial Reporting Standard aFplicat>le in Ihe UK and Republ￿ ol Ire*nd {FRS 102). (effective 1 January 2019). Th& Trust i¥ a 8en•fft Enoty 88 d8ffined by FRS 102. The Ttu$l has takèn advartago of ts pro¥181￿ Mi tho SORP for notto prepare a Statement of Ca8h Flow8. The ffinartial 8tstem•nt8 arg wepared in 8tsrfiro, 18 the fvrhknl ￿1￿ICY ofthe TnJ8t. Monetary amounts in these finatKW $18tem•nts we rounded lo the n•gre8t £. finanual statements Ik9ve bfjen prepored undEr tho hlslryical c<)8t Conve￿10n. mc*Jir￿d lo indud• the rnvaluatson of ftg1 1n8tr￿nents. and Section 12 'Olher FinaneAal IMtrl¥￿nts Issuos, of FRS 1￿2 to all of rt8 fmanL?al in8tnTh8nts. Finaw81 Inslrurrthts are reets3ni8ed in the TrL￿$ bal8TrX Vrt￿n the Twst bets)me8 Party to I conlTactu•l provlsloM of the inslnjment. Fin8nrAal assè18 a￿1 lialxlities are off8th. vAth the net an￿ntS pres•nled in th• finan¢3al $18tements when theie is a legaty &nfO￿e8b￿ nght to sel off th• recognS5od amount8 and thern18 an intention to on net b•sis or to rgalise the asset And Settle the h"8t¥llty ￿M￿h￿De0￿sfy. Bo•k fin•ncl•l Basic fnanclal 8ssots. 7*knich mcr￿Je debtors and cash and ba)k baLa￿8. are initvlly measured 41 trBn8action price irxjuding transaction costs a￿1 are 8ubsequ&nty ￿rr￿d •t amortised cost uslrg th •ffective irrtere8t m•lhc•J unless the aThangtrft￿t constitute6 a 17narring trarwctton, where th9 transaclion is rt￿asure￿ al Ihe presènt value olthe future receipts disca)unl8d al a mark81 rate of intere•¢. Fln8rKbal 888ets d8wfied 8$ rncelvat￿O w*hln on• year are r￿t all￿19•d. B••lc finanelal 1Sablllti Bast finandal liabilitw. L¥editors and bank kians ar• inKlally rwnised al tran8XtKX) prr unless the arTang8ment constitutes a fM)8ncing trwis•ct*)n. whore the (hbl in$lrum•nl18 Thasured al the presenl valuts of the hJture pgyments disr)>Jnted at 8 mart(at rnto of Inter•8t. Fi￿￿la1 Ikibilrti88 cla6sffigd ¥8 payable ¥￿thIn year arn not qmorti8ed. D•bl Instruments or• 8ubBoquth at wnortt•od cost. uthg th8 •ffeclbY Intero81 rate Mell￿d. Trade Croth￿ are obllg8tions to pay for or 8eNKe8 that hève beM acquired In the ordinary cour8• of operation5 from sLwF￿lgf8. Amounts payab￿ a￿ da88ifi8d as current liabilit￿8 W pgyment18 ¢Jue within on• year or19s8. If not, they afe ￿￿8•nI•d #s ￿n-￿I￿nI li4￿1*1￿. Trade ¢reditorn are recognised initialty at transo￿lDn pri¢• and 8ub8equenty measured at amortrsed co81 usirvd the effeth.ve intere8t rne1￿. D•r•¢ognltion of flnancl•l Il•blllll•• Ffjna￿al 1iabrfll1￿ are derecognwd when t￿ TNsfo contrKttwl exrirn or are olBchargad or cance118d. Crltlcal *ccountlng Mtlm•t•¥ •nd Judg•m•nts In the applicat￿n of the Trust's a(X4)unthng Fdide8. the Tr￿tee6 arn requlrod lo make Judgements, estimates and assumptth8 8b¢)ur t￿ carying amwnt ofassels Ma￿1itieS th81 are not re8dl apparent from oiher sources. The estimates and aBsoc4atsd #¥5umptson8 8r8 basod on hislorbcal expwience and other ladw5 that are c￿81dered lo t* rele¥anL Acluw results may diff8t from the8 The gS1imat08 and Lmdetykig a8$UmplI￿71 a￿ re¥vwed on an 0￿01r9 basi8. R•vislon8 to xgjuntsng 08timatos are r•cogni88d in the in the estrnat8 IS ￿lse￿ where th8 r￿￿IDn affects only that period, or in the period of the r8vi81l￿ and fijture period5 Wha￿ the re¥oK)n aff•cts both ￿rren1 and lulure period$. Incorn• Llnre•lrl¢t•d Fundj Unre8trithd Fund5 2025 2024 Investn￿l Income Bank intgre8t 293.765 1.899 1.244 During the year £3.048 of pfft 2m urts5Wrt 9Wt morw w85 r¥tUm￿ to tt* Tn&*t 12 ST HILD AND ST BEDE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Charltablo acll¥ltl•• Unr*trlctsd Funds unr￿Irthd Funds 2024 Grnnt f¢Jnding ofadlv￿e• ncts 4) 219,887 Support ¢x)sts1$èo note 51 Govemar¢* r4)sts16eo note 51 10,813 13,448 251.736 238.7C Grant• p•yabl• 2026 North East R•119￿5 Learning R•8ourc*$ Cw St Hihd & St Bade colla￿.. Chaplaincy Exwn3e8 Theological Sc*ol8rship8 Lkgan S¢holarshiF¢J St Hild'8 CO1￿ Church of Engl4￿j Sc* St Hild & St B•de c￿1898 Cwain Durham DNxe8• Contlnulnq ministwi￿ D¢V&oprr￿rt N￿KaltIe Di¢xe8e Continuing Min181wial Devdopmont N8w¢)BtJe DloGe88n EdUcat￿n 808rd IRE wJpport for Schot4$ & Ae•demie81 Christian Edu&qlon (North East RE Ourham Dioe•*e Chaplaincy Projext Ihhitbjm Académy IRE Teat*w Trwnirg Hub) 'ndlsfame Coll•ge olTheology The Roojl God 8nd the Bio 8Jng SunE1erfand Univer9Ry ChaplAln 100.OJO 2,000 2.40) 2,171 31,628 8,0 4,OQ) 32.040 10.C•JJ 2.573 5,773 51,( 15.242 13.751 15,0 10,490 10.877 45.178 1,430 8.475 7,000 219887 6 Co•t• Support a0￿￿•1￿• 2021 Support Gobwnanc 2024 Clerkln9 CC*t8 6.354 6,1C 2,5 724 6,100 2.5C¥) 724 Postage. statits￿. Telephony elc Travel 0XFenws Insuran￿ Bank Charges Legal 8¢fvice etr re9ardirwJ endowrnent Le9aJ athce on *u8rdirrfJ Audh a¢countarw f*s 749 107 1.381 1,775 107 1,381 1.775 4,214 4214 2.034 13.448 10,813 6.000 16,813 Govemance ￿t9 arn £13.448 i￿JIng aLKlIt fees of £7.2CKI12024 £6,1)Jo) 13 ST HILD AND ST BEDE TRUST NOTES TO THE FINANCIAL STATEMEKrs {coKriNUED) FOR THE YEAR ENDED 31 MARCH 2025 6 Tru•t••g None of the Twstees (or any perscTh ￿nnected wrth them) r•c•i74ed any remuneration or bèneffit8 from the Trust during th8 year. 7. Employ The Tr￿st pays forthe semces ofa dork Ixjl does fKI havo any empbyee8. Flxod *•Mt InvMkn•nts Totsl Sl Hlld •KI 81 V•lua￿on At 1 April 2024 ValuaJon Ch￿9•• 9,322,X {359.7081 9,722,815 1369,1731 19.4181 At 31 March 2025 8.983.198 9.353,642 All #iVe•1m￿ •re CCLA or COIF). 2024 Amount• f•lllng du• ¥Athln on• yw. £¢Tued IrKom• IDlvid•nd• and intor￿1 du81 Prepayments 75.294 73,998 372 75,888 363 74,381 10 Crndltorn: •mowts fllllnq *4th1n on• y•v 2026 20 Other crediior8 Acrxuels 8nd d•l¢rred 1￿crfne $2,852 7,200 17,355 59.e02 23.366 14 ST HILD AND ST 8EDE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THEYEAR ENDED 31 MARCH 2025 11 AMly81• of n•1 a8••ts botwmn lund• UnrestrthJ Erth•Arwt Tdal Fund• FuThJ8 2026 Investments 8,964,160 9.363,642 417,074 Current 417,074 Crnditorn k886 Ihan 1 year 159,8521 159,862) 746.704 8,964.1fAJ 9,710,064 Tolal Fur 2024 Funds Fund8 Inveknnt8 9,323.915 9.722,815 333,601 123.3551 CuThent A¥gOt8 Cr8dltor5 ￿¥¥ th•n 1 333,601 123,3551 709.146 9,323,915 10,033,C61 11 R•i•t•d Partl•• Miss S Milner, tru81ee, 18 8 director of th• Nlorth East R•19￿$ L•amir4J Resour￿ Centre Lknrted 8Tr udng the year th& charity p4hY grants lOtdllNd £50,(MKI (2024 £1(K),OW) lo th• F4Jrth Easl Religh)u8 Leaming R060urce8 Centra Limltod. Mr G Carter. trustee. is a govemor of St HI￿S Cdlege C of E Prfmary S¢>lcKA. Canon L Burton. Iw8ts8, w88 go¥emor of Sl Hild's College C of E Pnmary Sctwjol until F&bNary 2025. Ouring th• yw a grant of £10,(KIO was pak1 to St Hld's Cdleg8 C ol E Primary Sch)ol. Prof S Forrest. InJBlee. is the Prindpal ol Ihe Collegg of Sl Hlld & St B•de. Duthtffi UThv•rnily. Cwring the year grants payab￿ lot811irvJ £8,(￿ M*re paid to Ihè Collego. Rev E Wlkinson, Injstee, is a dlr•ctor of Chjthgm t￿(￿an 808fd of Finan￿. Ofthe £22,324 in grant3 pa duflng thg y8gr aTha aw8r(led to Durham DiwMan Board ol Finance prlor to her 8ppoinlm•nl. £7,188 h8$ be￿ paKI sin￿ her apwinlment 88 8 tru8t88. 15