The Robert Stephenson Trust Reports and Financial Statements Year ended 7th April 2022 Registered Charity No. 700647 The Robert Stephenson Trust Index- Report5 and Financial Statements th Year ended 7 April 2022 Contents Pages Chairman's Report Report of the Trustees Report of the Independent Examiner Statement of Assets and Liabilities at the end of the Period Notes to the Financial Statements 9-10 Receipts and Payments for the year ended 7, April 2022 li Page I The Robert Stephenson Trust CHAIRMAN'S REPORT TO THE 2022 ANNUAL GENERAL MEETING The ye3r 2021122 has been an eventful one for the Robert Stephenson Trust. The most irnportant action was the change from a limited company to a Charitable Incorporated Organis3tion and this has provided the opportunity to confirm the membership of the Trust. Looking forward, a considerable amount of effort has been put towards the planning of activities to celebrate the bicentenary of the foundation of the world's first locomotive building works on South Street, Newc35tle. Although there is still much to do, a number of actions have already been set in hand for celebr3tion5 during the first Six month5 of 2023. The Trust was very fortunate in receiving a grant towards the bicentenarycelebrations from the City of Newcastle and some of this has been expended on display boards for use at exhibitions. The boards are of a -pop up- variety which makes them extremely handy for travelling to various locations. Over the years the Trust has acquired a large number of artefacts many of which were stored in the basement of the Mining Institute. With the reformation of the latter into the Common Room of the North, these items had to be disposed of a5 the Trust no longer had anywhere to store them free of charge. In particular was a significant collection of Victorian furniture which had been associated with the South Street works in the latter part of the nineteenth century. This collection was a donation, and was shown as an asset at its insurance V31ue in the Trusvs previous accounts; however, its disposal at auction. with the donor5, consent. resulted in a net reali53tion substantially below the insurance valuation. Although the Trust was reluctant to lose these items, their disposal made a useful addition to the Trust's cash flow during the year. The other activities of note were the scanning of the large collection of Trust papers thus enabling those items that have no intrinsic value in themselves to be disposed of whilst keeping a digital record of everything that the Trust had acquired. Several of the Trustees devoted a considerable amount of time to the preparation of articles and papers for public3tion. In this context I must particularly mention Mich3el Taylor who ha5 continued to produce the Trust's journal Rocket and Hugh Fenwick who has drafted a history of the Robert Stephenson & Co. Locomotive works to be published in the autumn in preparation for the 2023 bicentenarv. After the year closed we had the pleasure of welcoming Mr Rob Langham to the Trust Bo3rd but were disappointed to lose two other Trustees in 2021/22, David Crockit, who had been associated with the Trust for many ye3rs but felt the time was right for him to resign because of increasing age and Andrew Mcclean for personal reasons. In conclusion, I would like to thank all of the Tru5tee5 for their dedication and hard work over the past 12 month5 and to all members for their continuing support. We look forward to the opportunity provided next year by the 2023 bicentenary to further the Trust's aims of promoting awareness of the achievements of Robert Stephenson, his companies, partnerships and other interests. D L Heath, Chairman 20.S.2022 Page 2 The Robert Stephenson Trust Registered Charity Number 700647 Report of the Trustees for the year ended 7, Aprll 2022 Objertives and attivities SummoryoAthe purp05e5 of the cl￿rity os setout in its governing document The purpose of the Robert stephenson Trust is.. 111 to prornote. rnaintain, improve and advance public education and knowledge of the development of railways, and in particular of the role of Robert stephenson, his Companies, Partnerships and other interests, and the City of Newcastle upon Tyne in that development. 121 to preserve for the benefit of the residents of the City of Newcastle upon Tyne in the County of Tyne and Wear and the nation at large, whatever of the English historical, architectural and constructional heritage as may exist in and around the City aforesaid, p3rticularly that concerned with the developrnent of r3ilways in the forrn of buildings lincluding any building a5 defined in Section 29011) of the Town and Country Planning Act 1971lof particular beautv or historical or constructional interest. Summary of the maln actlvftles In relutlon to those purposes for the publlc beneflt. In portlculur. the uctlvltles. projects orsejvkes Identllled In the uccounts The Trust has issued a six monthly Newsletter, published articles and presented lectures that accord with the purposes of the charity. During 2021 and 2022 considerable effort h35 gone into preparing foi the 2023 celebration of the bicentenary of the founding of the world's first railway locornotive factory, Robert Stephenson & Co, Newcastle. The Trust has commented on the planning application for altering the Pattern Shop. a Listed building th3t wa5 part of the works. Stutementconfirming whether the trustees hL7ve regord to the guidance issued by the Charity Comrnission on public benefit It is confirmed the trustees have had regard to the guidance issued by the Charity Commission on public benefit. The Trust activities have all been carried out by the trustees without any charge for the activities described in the previous section of this report and with no personal benefits to trustees. Achlevements and Performance Summory of the moin achievement5 of the churity. identifying the difvrence the chorit￿5 work hus made to the circumsttsnces of its beneficiaries andony wider benefits to societyas a whole. In common with many charitable organisations, the Trust's achievements over the past two years have been adversely affected by coronavirus restrictions. This has been compounded for the Trust by the closure of the North of Eng13nd Institute of Mining & Mechanical Engineers. Newcastle during its refurbishment and conversion to become The Common Room of the North. This required most of the Trust's physical assets, documents and library initially to be put into temporary storage, with subsequent disposal of many due to the loss of storage facility at The Common Roorn. Despite these difficulties the Trust has continued to respond to requests from the public both in the UK and abroad for inform3tion relating to Robert Stephen50n, and to provide constructive input to the planning application for the change of use of the Listed 'Pattern Shop" that wa5 part of the Robert Stephen50n & Co work5. Page 3 Financial Review Review of the charity'sfinoncialposition ot the end oAthe period At the end of the period the Trust held net current assets of £62,262. Sttstementexploining thepolicyAor holding reserves stating why they are held The Tru5tee5 prepare 3nnual forecast5 of the cash requirements of the Charity and update these forec3St5 periodically during the year with the intention of ensuring the Charitws free reserves are maintained at a prudent level. Expenditure on the Charity's direct activities and on management and administration is only sanctioned if the Trustees are Satisfied there will be 8 sufficient level of income to match or exceed expenditure. Amount of reserves held £15,000 Detolls olAund materlolly In deflclt No fund5 were in deficit at the year end. Structure. Governance and Management Descrlptlon of chortys trusts The Robert stephenson Trust. Type of governing document Constitution. How ts the charlty constltuted? A Charitable Incorporated Organisation with voting members other than its charity trustees. Trustee selection methods including details OA any consttituttional provisions e.g. election to post or name of ony person or body entltled to uppolnt one or more trustees 111 At every annual general meeting of the members of the CIO, one-third of the charity trustees shall retire from office. If the number of charity trustees is not three or a multiple of three, then the number nearest to one-third shall retire from office, but if there is only one ch3rity trustee, he or she shall retire,. 121 The charity trustees to retire by rotation shall be those who have been longest in office since their last appointment or reappointment. If any trustees were last appointed or reappointed on the same day those to retire shall lunle55 they otherwise agree among themselvesl be determined by lot., 131 The vacancies $0 arising may be filled by the decision of the members at the annual general meeting: any V3cancies not filled 3t the annu31 general meeting may be filled as provided in sub-clause141 below.. 141 The members or the charity trustees may at any time decide to appoint a new charity trustee, whether in plate of a charity trustee who has retired or been removed in accordance with the constitution as an additional charity trustee, provided that the limit Specified on the nurnber of charity trustees would not as a result be exceeded,. 151 A person so appointed by the members of the CIO shall retire in accordance with the provisions of sub-clauses lil and 121 above. A person so appointed by the charity trustees shall retire at the conclusion of the next annual general meeting 3fter the date of his or her appointment, and sh311 not be counted for the purpose of determining which of the charity trustees is to retire by rotation at that meeting. Page 4 Nt7mes oAthe churfty trustees who monoge the churity Trullee name 0111￿ Ilf any) Dates acted If not for whole year P M Bènham Membership Se¢ret8ry J M Brown D Crotkit 8 Apr 2021-3 Mar 2022 T H Fenwick Vice Chairman V Haworth D L Heath Chairm8n J A Jeffrey Company Secretary A McLean 8 Apr-4 Nov 2021 MCReed Treasurer J M Taylor C J Wheeler F P Wiltshire Committee Secretary Corpthmte trystees-ftomes of the twstees otthe dote the report wos (Jpproved Trustee name As above, exceptr- A McLe3n D Crockit and with oddition o RLan ham Retired4 November 2021 Retired3 March 2022 oinred 26A ri12022 Nume oltrustees holding title to propertybelonging to the chur None- not applicable. Funds hekl Js ¢ustodlon trustees otrj beh¢rlf oAothers Nil- not applic8ble. Nume5 undoddre55es of udvisers Type ol adviser Auditor Name Address R L C03d FCA Low Pasture, Balder5by Garth, Balder5byi Thirsk, North Yorkshire Y07 4P0 P3ge 5 D•daratlons The trustees declare that they have approved the trustee5' report abwe. Signed on behalf of the chariV5 tru5tee5 Donald L Heath 08E, Chairman T. Hugh Ferbwicl Vice Chairman Page 6 The Robert Stephenson Trust ## **Independent Examiner's Report to the Members of The Robert Stephenson Trust** ## _**Respective Responsibilities of the Trust and the Examiner**_ The Trustees of the Trust are responsible for the preparation of the accounts and they consider that an audit is not required for this year under Section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is required. It is my responsibility to: - Examine the accounts under section 145 of the 2011 Act - Follow the procedures laid down in the General Directions given by the Charity Commissioners Section 145(S)(b} of the 2011 Act - State whether particular matters have come to my attention. ## _**Basis of Independent Examiners Report**_ My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts with those of the records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the treasurer concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an opinion as to whether "a true and fair view" is given by the accounts and the report is limited to those matters set out in the statement below. ## _**Independent Examiners Statement**_ In connection with my examination, no matters have come to my attention: - (1) Which gives me reasonable cause to believe that in any material respect the req"t.1iremenfs - To keep accounting records in accordance with section 130 of the 2011 Act; or - To prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met: or - (2) To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. R L Coad FCA 2022 f.M1J!., _3v#l T_ Page 7 The Robert Stephenson Trust Statement of A55ets and Llablllde5 atthe end of ihe Perlod to P AprN 2022 Notes Currant Debtor5 Cash at Bank 452 62016 6246B Credltors-arnounts falllng due wlthln one year 206 Net CurrEntA55et3 62262 Net Assets 62262 Unrestrlcrerf Fund5 General Fund Designated Fund 47262 150 62262 The flnanclal statements wer@ appra￿d by thÈ Trugt@es on 27th May 2n22 •nd signed on their behalf by- Dr M C Rced-Troa5ureT }TrLtstees D L Hpith- Chairman paio 8 The Robert Stephenson Trust th Notes to the Financial Statements forthe year ended 7 April 2022 l Accounting Policies Accounting Convention The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice. 'Accounting and Reporting by Charities, ISORP20051 Funds Restricted funds may only be expended only on those restricted purposes intended by the donor. Unrestricted funds are general funds which are spent on the Charity's general purposes. Incoming resources Donations and general sales are recognised when received. Tax refunds are recognised when the incoming resources to which they relate are received. Grants are accounted for when the Charity Is entitled to use of the resources, their ultimate receipt is considered reasonably certain and the amounts are reasonable quantifiable. Resources expended All expenditure is generally recognised when it is incurred and is accounted for gross. Debtors Prepayments 452 Creditors Amounts falling due within one year Accruals 206 Analysis of Net Assets between Funds Funds General Restricted Designated Total Net current assets 47262 15000 62262 Page 9 Movements in Funds Opening Incoming Outgoing Funds Resources Resources Total Funds Unrestricted Funds General Funds 43090 4172 47262 Designated Funds Contingency Fund 15000 15000 Total funds 58090 4172 62262 Page 10 The Robert Stephenson Trust th Receipts and Payments forthe year ended 7 April 2022 2021122 2020/21° Income Donations Sales of books and memorabilia Grant Asset sale 952 42 3000 2842 6476 786 495 1281 Expenditure Stationery, postage and sundry Publicity and printing Independent Examiner Website Storage Bank Charges 341 570 200 72 1089 32 137 328 200 2304 4172 665 616 Surplus Note... Thefiguresfor 2020/21 arefor illustrotive purposes only, as they arefor the Limited Companyfinalfinancial period to rh April 2021 Page 11