REGISTERED CHARITY NUMBER: 1006402
REPORT OFTHETRUSTEES AND
NAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD I NOVEMBER 2023 TO 31 OCTOBER 2024
FOR
WORSHIPFUL COMPANY OF FOUNDERS
ANNIVERSARIES FUND

WORSHIPFUL COMPANY OF FOUNDERS
ANNIVERSARIES FUND
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD I NOVEMBER 2023 TO 31 OCTOBER 2024
Page
Report of the Trustees
Independent Examlner's Report
Statement of Flnancial Actlvlties
Balance Sheet
Notes to the Flnan¢lal Statements
7 to 12
Detalled Statement of Financial Actlvltles
13

WORSHIPFUL COMPANY OF FOUNDERS
ANNIVERSARIES FUND
REPORTOF THE TRUSTEES
FOR THE PERIOD I NOVEMBER 2023TO 31 OCTOBER 2024
The trustees present thelr report with the financial statements of the charity for the period l November 2023 to
31 October 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard
applicable In the UK and Republic of Ireland IFRS 1021 (effective l January 20191.
REFERENCE AND ADMINISTRATIVE DETAILS
Reglstered Charlty number
1006402
Prlnclpal address
Founders, Hall
Number One
Cloth Fair
London
ECIA 7JQ
Trustees
The trustee of the Charity is The Worshipful Company of Founders of the City of London.
The Master, Wardens and Assistants comprise the Court of The Worshipful Company of Founders, its governing body.
Both the governlng body and the Charlty Commlttee meet quarterly. Grant applications are consldered by the Charity
Committee which reports to and recommends appropriate grants to the governing body for its approval.
Independent Examiner
Cornfield Accountants Limited
Chartered Accountants
5 Cornfield Terrace
Eastbourne
East Su55ex
BN214NN
OBJECTIVES AND ACTIVITIES
Objectlves and alms
The principal objectives of the fund are helping the dlsadvantaged whose need is caused by poverty, infirmity or disabilitv.
Following a restructure of the charities administered by The Worshipful Company of Founders funds the charity took over
the funds established by an endowment dated 22 September 1941 from Gordon and Douglas Young (previously known as
The Young frust Fund) for the sole purpose of funding the gift of the Bible to each new Freeman,
he Donor5 hereby declare that it is their united prayer that our Heavenly Father shall richly bless and prosper both those
who recelve benefits of the said Gift made by them and those who shall from time to time serve in administration thereof."
The funds of the Young Trust Fund are rlng-fenced to ensure that the original purpose of this endowment are met by the
charity.
Page I

WORSHIPFUL COMPANY OF FOUNDERS
ANNIVERSARIES FUND
REPORT OF THE TRUSTEES
FOR THE PERIOD I NOVEMBER 2023 TO 31 OCTOBER 2024
Slgniflcant activities
The charity transferred its investments to a pooled fund The Founders Combined Charity Income Common Investment
Fund - Non Endowed fund on l April 1996. The charity receive5 a share of the net income of the fund arising in the period
and owns the net assets in proportion to the market value of the investments at l April 1996 and any Subsequent capital
contributions to that fund. At the start of the year the fund's share of the unrestricted income and net assets was 23.698%
12023- 23.677%1.
The charity has transferred £1,000,000 to a pooled fund-The Founder5 Combined Charity Capital Common Investment Fund
Endowed fund. The charity receives a share of the net income of the fund arising in the period and owns the net assets in
proportion to its capital contribution and any subsequent capital contributions to that fund. At the start of the year the
fund's share ofthe income and net assets was 44,116%12023- 44.0870AI,
During the year all investments were consolidated at Charle5 Stanley, and the charity was allocated it5 separate endowed
and non-endowed investment portfolios, removing the need to split investments and income on a percentage basis.
FINANCIAL REVIEW
Reserves policy
It is the policy of the charity that unrestricted fund5 whlch are readily available for spending and have not been designated
for a specific use should be maintained at a level between six and twelve months, expenditure. The trustee conslders that
reserves at this level will ensure that, in the event of a significant drop in funding, it will be able to continue the charity's
current activities while consideration Is given to ways In whlch addltlonal funds may be raised.
At 31 October 2024 the charity held £55K12023, £35KI. These levels are in line wlth the target range. The trustee Intends to
manage its expenditure to maintain the reserves In line with the target range over the comin8 5 years.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governlng document
The Fund was established in 1990 to celebrate the 400th anniversary of the 8rant of the arms to The Worshipful Company
of Founders of the City of London IThe Founder5 Company).
Capital was subscribed by the members of The Worshipful Company of Founders by outright gift and addltional capltal Is
received each year from members, deed of covenants and occasional gifts,
The trustees conf irm that they have referred to the guldance contained in the Charlty Commission's general guidance on
public benefit when reviewing the Trust's aims and objectives and in planning future actlvities and setting the grant
making policy for the year.
Decislon making
The trustee meets quarterly. The Charity Committee of the Worshipful Company of Founder5 agrees the broad strategy and
area5 of activity for the Trust, including consideration of grant making, investment, reserves and risk management, policies
and performance. The day-to-day administration of grants and the processing and handling of new grant applications prior
to consideration by the Charity Committee is delegated to the Clerk of the Company.
The Charity Committee also considers the monitoring information concerning the performance of grants to date, and makes
recommendations to the Court concerning the extension, ce55ation or suspension of existing grant approvals.
Trustees are required to disclose all relevant interests and register them with the Clerk and if appropriate to withdraw from
decisions where a conflict of interest arises.
Page&

WORSHIPFUL COMPANY OF FOUNDERS
ANNIVERSARIES FUND
REPORT OF THE TRUSTEES
FOR THE PERIOD I NOVEMBER 2023 TO 31 OCTOBER 2024
Rlsk management
The trustees have considered the major risks to which the charlty Is exposed and have reviewed those risks and established
systems and procedures to manage those risks,
The trustees consider variability of investment returns on the charltable assets to constitute the charity's major financial
risk and recent extreme volatility in world stock markets has demonstrated this risk. The trustees manage the a55ets on a
medium risk basis of income generation and capital growth, thereby maintaining stability for grant making, and hopefully
thereby facilitating longer term grants and a more stable number of awards, but the trustees also take account of the
outlook for investment returns and keep the level of awards under review.
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards Iunlted Kingdom Generally Accepted Accounting Practicel
Including Financial Reportlng Standard 102 The Financial Reportlng Standard applicable in the UK and Republic of Ireland"
The law applicable to charitie5 In England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations
2008 and the provisions of the trust deed requlre the trustees to prepare financial statements for each financial year whlch
give a true and fair view of the state of affairs of the charity and of the incomlng resources and application of resources,
Including the income and expenditure, of the charity for that period. In preparlng those flnancial statements, the trustees
are required to
select sultable accounting policies and then apply them con515tentlv;
observe the methods and principles in the Charity SORP;
make judgements and estimates that are reasonable and prudent,.
state whether applicable accountin8 Standards have been followed, sublect to any material departures dlsclosed and
explained in the financial statements;
prepare the flnancial statements on the golng concern basss unless it is Inappropriate to presume that the charity will
continue in business.
The trustees are responsible for keeplng proper accountlng records whlch dlsclose wlth reasonable accuracy at any tlme the
f inancial position of the charity and to enable them to ensure that the flnancial statement5 comply with the Charities Act
2011, the Charity (Accounts and Report51 Regulations 2008 and the provisions of the trust deed. They are also responsible
for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud
and other Irregularities.
Ap
oved by order of the board of trustees on
and signed on its behalf by;
A Hughes
Master
Revd NK Stephenson
Clerk
Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
WORSHIPFUL COMPANY OF FOUNDERS
ANNIVERSARIES FUND
Independent e¥aminer's reportto the trustees of Worshlpful Company of Founders Annlversarles Fund
I report to the charity trustees on my examination of the accounts of Worshipful Company of Founders Anniversaries Fund
(the Trust) for the period l November 2023 to 31 October 2024,
Responsibllltles and basls of report
A5 the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the
requirements of the Charities Act 20111'the Act'l,
I report in respect of my examination of the Trust's account5 carried out under section 145 of the Act and In carrylng out my
examination I have followed all applicable Directions given by the Charity Commission under section 14515llbl of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the
examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
the accounts do not accord with those records,. or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out
In the Charitle5 (Accounts and Reports) Regulations 2008 other than any requirement that the account5 give a true
and falr view whlch Is not a matter considered as part of an independent examination.
I have no concern5 and have come acr055 no other matters In connectlon wlth the examlnatlon to whlch attentlon should
be drawn In this report in order to enable a proper understanding of the accounts to be reached.
A L 8reeze FCA
Cornfield Accountants Limited
Chartered Accountants
5 Cornfield Terrace
Eastbourne
East Sussex
BN214NN
Page 4

WORSHIPFUL COMPANY OF FOUNDERS
ANNIVERSARIES FUND
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE PERIOD I NOVEMBER 2023 TO 31 OCTOBER 2024
2024
Total
funds
2023
Total
funds
Unrestricted
fund
Restricted
fund
Endowment
fund
Notes
INCOME AND ENDOWMENTS
FROM
Donations and legacie5
44,103
44,103
16,993
Other trading activities
Investment income
43
27,732
38,420
306
38.726
Total
82,523
306
82,829
44,768
EXPENDITURE ON
Charitable activitles
Grants payable
Bibles
34,389
34,389
1,895
28,447
80
1,895
Other
5,090
32
5,122
7,143
Total
39,479
1,927
41,406
35,670
Net galnsll5ossesl on Investments 6
9,761
87,135
96,896
187,5321
NET INCOME/IEXPENDITURE)
52,805
11,6211
87,135
138,319
{78,4341
RECONCILIATION OF FUNDS
Total funds brought forward
167,731
709
1,172,072
1,340,512
1,418,946
TOTAL FUNDS CARRIED
FORWARD
220,536
19121
1,259,207
1,478,831
1,340,512
The notes form part of these f inancial statements
Page 5

WORSHIPFUL COMPANY OF FOUNDERS
ANNIVERSARIES FUND
BALANCE SHEET
31 OCTOBER 2024
2024
Total
funds
2023
Total
fund5
Unrestrl¢ted
fund
Restricted
fund
Endowment
fund
Notes
FIXED ASSETS
Investments
166,S14
1,259,207
1,425,721
1,295,826
CURRENT ASSETS
Debtors
Cash at bank
27,160
38,327
27,160
37,415
29,262
31,947
65,487
19121
64,575
61,209
CREDITOR5
Amounts falllng due wlthin one
year
18,4651
18,4651
110,5231
NET CURRENT ASSETS
57,022
56,110
50,686
TOTAL ASSETS LESS CURRENT
LIABILITIES
223,536
19121
1,259,207
1,481,831
1,346,512
CREDITORS
Falling due after one year
13,0001
13,0001
16,0001
NET ASSETS
220,536
1,259,207
1,478,831
1,340,512
FUNDS
Unrestricted funds
Restricted funds
Endowment funds
220,536
19121
1,259,207
167,731
709
1,172.072
TOTAL FUNDS
1,478,831
1,340,512
The financial statement5 were approved by the Board of Trustees and authorised for issue on 28Ap*2025 and were signed
on its behalf bv:
HHJ SJ Oliver
Worshipful Company of Fo
er Warden
estlev
The Worshipful Company of Founders- Under Warden
The notes form part of these financial statements
Pa6e 6

WORSHIPFUL COMPANY OF FOUNDERS
ANNIVERSARIES FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD I NOVEMBER 2023 TO 31 OCTOBER 2024
ACCOUNTING POLICIES
Basls of preparlng the flnanclal statements
The flnar)clal statements of the charlty, which Is a public benefit entity under FRS 102, have been prepared in
accordance with the Charities SORP IFRS 1021 '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 IFRS 1021 (effective l January 20191,, Financial Reporting Standard 102
'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The
f Sriancial statements have been prepared under the historical cost convention, with the exception of investments
which are included at market value. as modified by the revaluation of certain asset5.
Income
All income is recognised in the Statement of Flnancial Activities once the charity ha5 entitlement to the funds. it is
probable that the Income will be recelved and the amount can be measured reliably.
Expendlture
Liabilities are recognlsed as expenditure as soon as there is a legal or constructive obligation committing the charity
to that expenditure, it is probable that a transfer of economic benefit5 will be required in settlement and the amount
of the obligation can be measured reliably. Expendlture is accounted for on an accrua15 basi5 and ha5 been classified
under headings that aggregate all costs related to the category. Where costs cannot be dlrectly attrlbuted to
partScular headin8S they have been allocated to activities on a basis consistent with the use of resources,
Grants offered subject to conditions whlch have not been met at the year end date are noted as a commltment but
not accrued as expenditure.
Taxatlon
The charity Is exempt from tax on Its charltable actlvlties.
Fund accounting
Unrestricted fund5 can be used in accordance wlth the charitable objective5 at the discretion of the trustee5.
Investments
Fixed asset investments are stated at market value. Market value is calculated as the charity's share of the net assets
of The Founders Combined Charity Income and Capital Common Investment Fund. The charSty's share is calculated
In proportion to the market value of the investments transferred at l April 1996 and any subsequent capltal
contributions.
Pa8e 7
continued...

WORSHIPFUL COMPANY OF FOUNDERS
ANNIVERSARIES FUND
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE PERIOD I NOVEMBER 2023 TO 31 OCTOBER 2024
DONATIONS AND LEGACIES
2024
2023
Legacy to Anniversaries Fund
Donation5 to Anniversaries Fund
33.000
11,103
44,103
16,993
16,993
OTHER TRADING AcfiviTIES
2024
2023
Fundralsing a¢tlvlty- Amazonsmile
43
INVESTMENT INCOME
2024
2023
Charity Income CIF
Charity Capital CIF
4,419
34,307
38,726
2,656
25,076
27,732
The flnancial statements include net Income from Investments managed by Charles Stanley and Ruffer, which is
distributed to the Charity.
TRUSTEES, REMUNERATION AND BENEFITS
During the period the charlty paid £3,64812023 - £4,767) to its trustee, the Worshipful Company of Founders, for
dminlstratlve and management support.
No person5 connected to the trustee received any remuneration during the year.
Page 8
CDntinued..-

WORSHIPFUL COMPANY OF FOUNDERS
ANNIVERSARIES FUND
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE PERIOD I NOVEMBER 2023 TO 31 OCTOBER 2024
FIXED A55ET INVESTMENT5
Listed
inve5tment5
MARKET VALUE
At l November 2023
Additions
Revaluations
1,295,826
33,000
96,895
At 31 October 2024
1,425,721
NET BOOK VALUE
At 31 October 2024
1,425,721
At 31 October 2023
1,295,826
All Investments are carrSed at theSr falr value. Investments are all traded In quoted public markets, primarily the
London Stock Exchange.
The total value of investments includes £12,52512023 £11,348) that relates to the Young Trust Fund.
Cost or valuation at 31 October 2024 is represented by..
Listed
investments
Valuation in 2024
1,425,721
Listed investments represents the Anniversarles Fund's and the Youn8 Trust Fund's share of the funds held in
The Worshipful Company of Founders Combined Charity Income and Capltal Common Investment Funds.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Loan to Robert Warner Fund
HMRC Gift Aid Claim - Unrestricted
Investment Income from Founders Capital CIF
14,000
426
12,734
14,000
3,047
12,215
27,160
29,262
Page 9
continued,..

WORSHIPFULCOMPANY OF FOUNDERS
ANNIVERSARIES FUND
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE PERIOD I NOVEMBER 2023 TO 31 OCTOBER 2024
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Trade creditor5- WCF administration fee
Deferred income- doxy.me match f unding for Medical Electives
Accrue Cornfield accountancy fee5
Accrue RAF award 2023
Owed to Founders Charity Income CIF
Owed to Founders Charity Capital CIF
3,648
3,000
991
4,767
3,000
778
250
371
1,357
826
8,465
10,523
CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR
Deferred Income- doxy.me match funding for Medical Electives
3,000
6,000
MOVEMENT IN FUNDS
Net
movement
In funds
At
01111123
At
31110124
Unrestrlrted funds
General fund
167,731
52,805
220.536
Restrlcted funds
Youn8 Trust Fund
709
11,6211
19121
Endowment funds
Founder5 Combined Ch3rity Capital CIF
1,172,072
87,135
1,259,207
TOTAL FUNDS
1,340,512
136,818
1,477,330
Net movement in funds, included in the above are as follows;
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unrestrlcted funds
General fund
82,523
139,4791
9,761
52,805
Restrlcted funds
Young Trust Fund
306
11,9271
{1,6211
Endowment funds
Founders Combined Charity Capital
Common Investment Fund
87,135
87,135
TOTAL FUNDS
82,829
141,4061
95,395
136,818
Page 10

WORSHIPFUL COMPANY OF FOUNDERS
ANNIVERSARIES FUND
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE PERIOD I NOVEMBER 2023 TO 31 OCTOBER 2024
MOVEMENT IN FUNDS- continued
ComparatSves for movement in funds
Net
movement
in funds
At
01111122
At
31110123
Unrestrlcted funds
General fund
162,284
5,447
167,731
Restrlcted funds
YoungTrust Fund
539
170
709
Endowment funds
Founders Combined Charity Capital CIF
1,256,123
184,0511
1,172,072
TOTAL FUNDS
1,418,946
178,4341
1,340,512
Comparative net movement in f unds, included in the above ar
as follows:
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unrestrlcted funds
General fund
43,161
134,2331
13,4811
5,447
Restrlcted funds
Young Trust Fund
250
1801
170
Endowment funds
Founders Combined Charity Capital CIF
1,357
11,3571
184,0511
184,0511
TOTAL FUNDS
44,768
135,6701
187,5321
178,4341
Page 11

WORSHIPFUL COMPANY OF FOUNDERS
ANNIVERSARIES FUND
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE PERIOD I NOVEMBER 2023 TO 31 OCTOBER 2024
io.
RELATED PARTY DISCLOSURES
During the period, the charity had Investment income receivable of £4,41912023 - £2.6561 from The Founders
Combined Charity Income Common Investment Fund. At the period end £826 was included in creditors12023
£3711.
During the period, the charity had investment income receivable of £34,30712023 - £25,076) from The Founders
Combined Charity Capital Common Investment Fund. At the period end £12,73412023 £10,858) was included in
debtors.
During the period the charity agreed to pay £3,64812023 - £4,7671 to Its trustee, the Worshlpful Company of
Founders, for administrative and management support. At the period end this amount was in creditors 12023
£4,767).
At the year end £14,00012023 - £14,000) wa5 included Sn debtors as due from the Robert Warner Fund.
rhe charities have the same trustee and 8overnin8 body.
Page 12

WORSHIPFUL COMPANY OF FOUNDERS
ANNIVERSARIES FUND
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE PERIOD I NOVEMBER 2023 TO 31 OCTOBER 2024
2024
2023
INCOME AND ENDOWMENTS
Donatlons and legacies
Donations
Legacy
11,103
33,000
16,993
44,103
16,993
Other tradlng actlvities
Fundraising events
43
Investment income
Charity Income CIF
Charity Capital CIF
4,419
34,307
2,656
25,076
38,726
27,732
Total Incomlng resources
82,829
44,768
EXPENDITURE
Charltable actlvltles
Bibles
Grants to Institutions
Grants to individua15
1,895
34,139
250
80
28,197
250
36,284
28,527
Support costs
Flnance and Governance costs
Bank char8e5
Management fees- current year
Management fees- prior year adjustment
Talks and lectures
Income transferred to Capital CIF
Income transferred to Income CIF
ICO registration
Accountancy and legal fees
63
3,648
63
4,767
3,340
192
143
1,357
35
778
35
1,184
5,122
7,143
Total resources expended
41.406
35,670
Net Income l (expendlture)
42,923
9,098
This page does not form part of the statutory financial statements
Page 13