The Robert Stephenson Trust
Reports and Financial Statements
Year ended 7[th] April 2024
Registered Charity No. 700647
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The Robert Stephenson Trust
Index - Reports and Financial
Statements
Year ended 7[th ] April 2024
| Contents | Pages | |
|---|---|---|
| 1 | Chairman's Report | 4 |
| 2 | Report of the Trustees | 5-9 |
| 3 | Report of the Independent Examiner | 10 |
| 4 | Statement of Assets and Liabilities at | |
| the end of the Period | 11 | |
| 5 | Notes to the Financial Statements | 12-13 |
| 6 | Receipts and Payments for the year | |
| ended 7thApril 2024 | 13 |
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The Robert Stephenson Trust
Chairman’s Report to the 2024 Annual General Meeting
The year 2023/24 contained the actual bicentenary of the opening of the Stephenson Locomotive Works in Newcastle 200 years ago. The Trust Board had high hopes of being able to run a series of events to commemorate this globally important bicentenary but, in actuality, there was very little that was achieved to mark such an important anniversary. Two train naming ceremonies and a lecture at the Richmond (North Yorkshire) Walking & Book Festival were the only successes.
The first train naming ceremony was held at Darlington Station on the actual bicentenary itself viz June 23[rd] , 2023. Trans Pennine trains kindly provided one of their electric units and the name Diligence was suitably inscribed and the naming ceremony was carried out by our Patron, Baroness Quin. Lumo had intended to have a corresponding ceremony at Newcastle Central Station at the end of that week but, in the event, due to rolling stock problems, it was only possible to perform a shadow naming ceremony with the actual unit to be named emerging from their maintenance facilities later in the month. The publicity for both of these events was, disappointingly, extremely subdued. A former Trustee, Hugh Fenwick, delivered a well attended lecture in September at the Richmond Walking & Book Festival. This was well received but did not, actually, result in any new members.
The bank arrangements referred to in last year’s report have now settled down and are working to the Treasurer’s satisfaction. With so little action taking place, the accounts display an acceptable surplus which, hopefully, will enable us to undertake some more positive publicity in the coming calendar year.
During the course of the year Michael Taylor stood down as a Trustee and subsequently resigned as the Editor of the Trust’s magazine, Rocket. I regret to report that, so far, we have been unable to find anybody to succeed him. This is now a priority as Rocket is our main publicity vehicle.
We are hoping to be involved in Rail 200 during the calendar year 2025 and have approached Network Rail and LNER to see if they would be interested in arranging some local events on the Newcastle to Berwick line where all the major structures were designed by Robert Stephenson and were constructed under his overall supervision.
The Trust Board is also actively seeking to recruit further individuals to act as Trustees as it clearly needs some younger blood to joining Rob Langham who continues to do an excellent job in keeping the social media group informed of the various anniversaries that are occurring.
D L Heath 27.11.2024
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The Robert Stephenson Trust
Registered Charity Number 700647
Report of the Trustees for the year ended 7[th] April 2024
Objectives and activities
Summary of the purposes of the charity as set out in its governing document:
The purpose of the Robert Stephenson Trust is:
(1) to promote, maintain, 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.
(2) 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, particularly that concerned with the development of railways in the form of buildings (including any building as defined in Section 290(1) of the Town and Country Planning Act 1971)of particular beauty or historical or constructional interest.
Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts:
During the 2023-4 financial year the Trust has continued to issue its regular six-monthly Newsletter, and published articles and presented lectures that accord with the purposes of the charity.
In the previous financial year considerable effort was put into preparing for the 2023 celebration of the bicentenary of the founding of the world’s first railway locomotive factory, Robert Stephenson & Co, Newcastle. This included a series of lectures in the spring of 2023. A further lecture was given at the 2023 AGM, which was repeated shortly afterwards at an event in Richmond. The publicity and interpretation boards about Robert Stephenson & Co and the achievements of the Stephensons, father and son, were made available to this and other events, and were loaned to the Tanfield Railway during the summer of 2023.
At the request of Chi Onwurah, MP for Newcastle Central, briefing material was supplied to her for a Westminster Hall parliamentary debate on 5 July 2023 which she had secured and led to mark the bicentenary of the Robert Stephenson & Co locomotive works. The Trust’s Patron, Baroness Quin, and chairman Donald Heath attended an event hosted by TransPennine Express at Darlington on 23 June 2023 at which an electric train was named Diligence, the name of one of the early Robert Stephenson locomotives supplied to the Stockton & Darlington Railway. Another train operating company, Lumo, which is headquartered in Newcastle on part of the former RS works site, also added a plaque to one
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of its trains to mark the bicentenary.
The Trust has continued to engage constructively in consultations about development proposals for the former Robert Stephenson & Co works, and shortly after the end of the financial year was represented at the launch of the refurbished Pattern Shop at Forth Street.
Statement confirming whether the trustees have regard to the guidance issued by the Charity Commission on public benefit:
Trustees confirm that they 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.
Achievements and Performance
Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole:
The Trust has continued to respond to requests from the public both in the UK and abroad for information relating to Robert Stephenson, and, as noted above, to provide constructive input to the proposals for redevelopment of part of the Robert Stephenson & Co works.
The events mounted or supported by the Trust during the bicentenary year, together with its publications, especially The world’s first locomotive factory, have contributed significantly to public knowledge and awareness of the Stephensons’ achievements and their importance in the local, national, and international development of railways, as well as in the industrial growth of north-east England.
Following the pandemic, Trustees have continued to conduct most of their meetings online because of the geographical spread of the Board’s membership. While this has made it easier to conduct the Trust’s business, the Chairman’s report has referred to the loss of another active Trustee during the financial year. The reduction in the number of Trustees has become a significant constraint, and has limited the Trust’s scope for participation in the planned Rail 200 programme and the extent to which it can maintain the momentum developed during the bicentenary in delivering its objectives.
Financial Review
Review of the charity’s financial position at the end of the period:
At the end of the period the Trust held cash funds of £59,755.
Statement explaining the policy for holding reserves stating why they are held:
The Trustees prepare annual forecasts of the cash requirements of the Charity and update these forecasts periodically during the year with the intention of ensuring the Charity’s free
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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 that sufficient funds are available to match or exceed expenditure. The reserve is held at a level which Trustees consider to be sufficient to sustain two years of routine expenditure if no further income was forthcoming.
Amount of reserves held:
£15,000.
Details of funds materially in deficit:
No funds were in deficit at the year end.
Structure, governance and management
Description of the charity’s trusts:
The Robert Stephenson Trust.
Type of governing document:
Constitution.
How is the charity constituted?
A Charitable Incorporated Organisation with voting members other than its charity trustees.
Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees:
(1) 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 charity trustee, he or she shall retire;
(2) 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 (unless they otherwise agree among themselves) be determined by lot;
(3) The vacancies so arising may be filled by the decision of the members at the annual general meeting; any vacancies not filled at the annual general meeting may be filled as provided in sub-clause (4) below;
(4) The members or the charity trustees may at any time decide to appoint a new charity trustee, whether in place 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 number of charity trustees would not as a result be exceeded;
(5) A person so appointed by the members of the CIO shall retire in accordance with the provisions of sub-clauses (1) and (2) above. A person so appointed by the charity trustees shall retire at the conclusion of the next annual general meeting after the date of his or her appointment and shall not be counted for the purpose of determining which of the charity trustees is to retire by rotation at that meeting.
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Names of the charity trustees who manage the charity:
----- Start of picture text -----
Name of person
Dates acted if not for whole (or body) entitled
Trustee name Office (if any)
year to appoint
trustee (if any)
1 P M Benham Membership Secretary
2 J M Brown Archivist
4 V Haworth
5 D L Heath Chairman
7 R Langham
8 M C Reed Treasurer
9 J M Taylor
10 C J Wheeler
11 F P Wiltshire Committee Secretary
----- End of picture text -----
Corporate trustees – names of the trustees at the date the report was approved:
| Trustee name | ||
|---|---|---|
| All as above, **except: ** | ||
| J M Taylor | Retired 16 Sep 2023 | |
| F P Wiltshire | Deceased Sep 2024 | Committee Secretary |
Name of trustees holding title to property belonging to the charity:
None – not applicable.
Funds held as custodian trustees on behalf of others:
Nil – questions not applicable.
Additional information (optional)
Names and addresses of advisers:
----- Start of picture text -----
Type of Name Address
adviser
Auditor R L Coad FCA Orchard Croft, Westerns Lane,
Markington, Harrogate HG3 3PB
----- End of picture text -----
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DECLARATIONS
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
| Signature(s) Full name(s) Position Date |
|
|---|---|
| Donald Lesley Heath OBE Malcolm Christopher Reed CBE |
|
| Chairman Treasurer |
|
| 25 November 2024 | |
| 25 November 2024 |
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The Robert Stephenson Trust
Independent Examiner’s Report to the Members of The Robert Stephenson Trust
I report on the accounts for the year ended 7[th] April 2024 which are set out on pages 11 to 13.
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(5)(b) of the 2011 Act
-
State whether particular matters have come to my attention.
Basis of Independent Examiner’s 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 Examiner’s 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 requirements
-
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
28[th] November 2024
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The Robert Stephenson Trust
Statement of Assets and Liabilities at the end of the Period to 7[th] April 2024
| Notes | 2023/4 | 2022/3 | |
|---|---|---|---|
| £ | £ | ||
| Current Assets | |||
| Debtors | 2 | 456 | 456 |
| Cash at Bank | 59755 | 58500 |
|
| -------- | --------- | ||
| 69211 | 62468 | ||
| Current Liabilities | |||
| Creditors – amounts falling due within one year | 3 |
200 | 200 |
| -------- | --------- | ||
| Net Current Assets | 60011 | 58756 | |
| -------- | --------- | ||
| Net Assets | 60011 | 58756 | |
| -------- | --------- | ||
| Unrestricted Funds | |||
| General Fund | 5 |
45011 | 43756 |
| Designated Fund | 5 |
15000 | 15000 |
| -------- | --------- | ||
| 60011 | 58576 | ||
| --------- | --------- |
The financial statements were approved by the Trustees on 25 November 2024 and signed on their behalf by:
D L Heath – Chairman ] ] Trustees Dr M C Reed – Treasurer ]
The Robert Stephenson Trust
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Notes to the Financial Statements for the year ended 7[th] April 2024
1 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’ (SORP2005).
Funds
Restricted funds may be expended only on those restricted purposes intended by the donor.
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.
2 Debtors
2023/4 2022/3 £ £
Prepayments 456 456
3 Creditors : Amounts falling due within one year
2023/4 2022/3 £ £
Accruals 200 200
---- ----
4 Analysis of Net Assets between Funds Funds General Restricted Designated Total £ £ £ £ Net current assets 45011 - 15000 60011 --------- -------- ---------- ----------
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200 72
| 5 | Movements in Funds | Movements in Funds | |||
|---|---|---|---|---|---|
| Opening Incoming | Outgoing | Total | |||
| Funds Resources | Resources | Funds | |||
| £ | £ | £ | £ | ||
| Unrestricted Funds | |||||
| General Funds | 43756 1255 | - | 45011 | ||
| Designated Funds | |||||
| Contingency Fund | 15000 - | - | 15000 | ||
| --------- --------- | ------- | -------- | |||
| Total funds | 58756 1255 | - | 60011 | ||
| --------- --------- | ------- | --------- | |||
| Receipts and Payments | |||||
| for the year ended 7th April 2024 | |||||
| 2023/24 | 2022/23 | ||||
| £ | £ |
£ |
|||
| Income | |||||
| Donations | 1142 | 841 | |||
| Sales of books and memorabilia | 1321 |
778 | |||
| Grant | - |
400 | |||
| Bank Goodwill Receipt | - |
100 | |||
| Bank interest | 397 |
- | |||
| ------- | ------- | ||||
| 2860 | 2119 | ||||
| ------- | |||||
| Expenditure | |||||
| Stationery, postage and sundry | 215 |
269 | |||
| Publicity | and printing | 614 | 1477 | ||
| Independent Examiner | 200 | 200 |
|||
| Website | 14 | 72 | |||
| Storage | 168 | 75 | |||
| Bank charges | 68 |
90 | |||
| Exhibition materials | 68 |
2213 | |||
| Book printing | - |
1099 | |||
| Room hire | 162 |
130 | |||
| Insurance | 96 |
- | |||
| ------- | ------- | ||||
| 1605 | 5625 | ||||
| --------- | -------- |
||||
| Net of Receipts/(Payments) | 1255 |
(3506) | |||
| --------- | --------- |
841
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