2023-04-30-accounts - The Worshipful Company Of Furniture Makers' Charitable Funds Incorporating The Furnishing Trades Benevolent Association

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		Page
Charity Information
Trustees' Report
Auditors' Report
Consohdated Statement of Financial	Activities
Consolidated Balance Sheet
Company Balance Sheet		10
Consolidated Cash Flow Statement
Notes to the Accounts		12 - 20

TRUSTEES	Paul von der Heyde,	Paul von der Heyde,	Chairman	Chairman
	Hugh Garforth-Blas
	Peter Head
	Charles Vernon
	Ben Burbidge
	Jonathan Hindle
	Hayden Davies (appointed			29 November			2022)
OFFICERS	The Master:		Tony Attard			(from May 2022)
			Amanda		Waring		(from May 2023)
	Senior Warden:		Amanda		Waring		(from May 2022)
			Brian Ahern			(from May 2023)
	Junior Warden.		Bnan Ahern			(From May 2022)
			Debbie		Johnson		(From May 2023)
	Treasurer:		Allstalr		Gough (from May 2022)
CHIEF EXECUllVE	Jonathan Westbrooke
CHARIJY NUMBER	1015519
REGISTERED	Furniture Makers'	Hall
OFFICE	12 Austin Friars
	London
	EC2N 2HE
AUDITORS	Hillier Hopkins LLP
	l4idius House
	51 Clarendon Road
	Watford WD17 1HP
BANKERS	CAF Bank, Kings	Hill,	West	Mailing,		Kent	ME19 4PY
	National Westminster		Bank,	St	Pauls	Churchyard, London		EC4M BBU
INVESTMENT	Rathbone Investment		Management			Ltd,	1 Curzon Street, London W13 5FB
MANAGER

					Unrestricted	Restricted
				Note	generalfunds	funds	Totalfunds	Totalfunds
INCOME					2023	2023	2023	2022
					E	6	E	I
Voluntary income					480,612		'180,612		603,347
Investment mcome					82,818		82,818		83,451
Other income					105,488		105,488		106,503
TOTAL INCOME AND ENDOWMENTS							668,918		793,301
RESOURCES EXPENDED
Expenditure on raising funds				5,6	357,596		357,596		276,903
Expenditure on chantable activities				7,8,9,10	905 414		905414		699927
TOTAL RESOURCES EXPENDED					.,263,010		1,263,010		976,830
NET INCOME/(EXPENDITURE)		AND NET MOVEMENT			(594,092)		(594,092)	(183,529)
IN FUNDS BEFORE GAINS AND		l.OSSES ON
INVESTMENTS
Gains and losses on disposal	ofinvestment		amets		234,934		234,934		214,511
Gains and losses on revaluations		of investments						(430,638)
NET INCOME/(EXPENDITURE)							(668,906)	(399,656)
Funds balance brought forward					6926 158		6926 158	7	325814
FUNDS BALANCE CARRIED		FORWARD			SnT57,252		6,257,252	6,926,158

							CONSOLIDATED CASH FLOW STATEHENT	CONSOLIDATED CASH FLOW STATEHENT
							FORTHE TEAR ENDED 30	APRIL 2023
							2023		2022
						Notes	E		6
Ca4h tlows fram operating		activities
Met movement in Funds							(660,906)		(399,656)
Decrease (increase) in stock
Decrease (increase) in debtors							19,341		(135,169)
Increase (decrease) in creditors							55,072		25,903
Add back depreoatlon charge							100,324		113,426
Deduct gains on disposal on	investments						(234,93'1)		(214,511)
Deduct interest lk dividends	shown		as investing		activity		(02,010)		(83,451)
Add back investment management			fees				26,636		25,119
Add back unrealsed bases on		investments					370,246		430,638
Add back interest charged									00 7')8
Net cash used in operatins		activitihw						(334,005)		(150,$73)
Cash Howe from investing		activities
Purchase of tangible fared assets						16	(5,380)		(0,003)
Purchase of investments						17	(691,172)		(419,634)
Disposal of investments						17	9D1,071		543,651
Profit on disposal of investments							234,934		214,511
Interest and dividends							02,010		03.451
investment management l'ees
Net cash provided by investing			activity					496,435		307,077
Cash flows from finandng		acUmties
Mortgage capital repayments							N3, 172)		(69,644)
Mortgage interest paid
Net cash fiows from financing			activities					(151,429)		(150,312)
Change in cash and cash	equivalents			in the year
Analysis ofchanges in net		debt
							Srought			Carried
							forward	Cash flows	Other non- cash changes	forward
Cash							375,503	10,121		305,624
Cash Equivalent
Loans falling due within one	year						(73,172)	73,172	(75,000)	(75,000)
Loans falling due after mare	than one year						(1,408,154)		72,074	(1,336,000)
Total

2.Voluntary	2.Voluntary		Income	Income									Total
								Unrestricted	funds	Restricted	funds	Totalfunds	funds
								2023I		2023 I		2D23 E	2022 E
DonatiOnS								131,897				131,897	283,726
Events snd	functions							174,782				174,782	209,171
Membership		inmme						173	933			173,933	~110450
												~400 612	~603 347
3.Investment			Income
								Unrestricted	funds	Restricted	funds	Totalfunds	Totalfunds
oividendshnteresi				recened				2023 E		2023 E		2023 E ~18	2022 E 83,451
4.Other Inceme
								Unrestricted	funds	Restricted	funds	Tatalf nds	Totnifunds
								2023I		2023 E		2023 E	2022I
Rental acorns Other mcome			snd hall hire /(government			grants)		103,906 1,582				103,9D6 ~1582	ID4,890 ~1613
												~105488	~IDE 503
5.Costs of	Generating				Voluntary		Income
								Unrestricted	funds	Restricted	funds	Totalfunds	Totalfunds
								2023		2023		2023	2022
Dlmct costs							ll	E 69,203		E		E 69,203	E 44,413
5Up pn*c0s	tv						12					261757	ID7 371
												~330 DED	251784
6.Invesnnent			Management			Costs
								Unrestricted	funds	Restricted	funds	Totalfunds	Total funds
								2023		2023		2023	2022
Investment	Management				fees							E ~26 636	E 25 119
								Unrestricted		Restricted			Total
7.Grants to		Individuals						funds		funds		Totalfunds	funds
								2023			2023	2023	2022
Welfare Grants								E 177	207	E		5 ~177207	E ~IDI 356
												177107	~IDI 356

0.Grants to Institutions	0.Grants to Institutions	0.Grants to Institutions	Note
					Unrestricted funds		Restricted funds	Totalfunds	Tntalfunds
					2023		2023	2023	2022
						E	6	E	E
Grants to educational		institutions				2,500		2,500	7,19D
Grants to other	institubons							19,140	4 000
						21,640		21,640	~11990
9.Other Charitable		Acbvltles
					Unrestricted funds		Restricted funds	Tetalfunds	Totalfunds
					2023 E		2023	2023I	2022 E
Direct costs			11			62,798		62,798	1D,512
Suppo* costs			12			239,480		239,480	189,722
property expenses			13			335,846		335846	330,575
								638 124	533809
10.Governance	Costs
					Unrestricted funds		Restricted funds	Totalfunds	Total funds
					2023 E		2023 E	2023 E	2022I
Direct costs Support costs			11 12			12,750 55,693		17,750 ~55 693	11,650 ~44 122
								~68 443	55772
11.Direct Costs				Generating
				funds	Charbabk	activities	Governance	Total funds	Totalfunds
				2023 E	2073 I		2023 E	2023 E	2022I
Auditor' remuneration							12,750	12,75D	11,650
Other chantabie	activities					62,798		67,798	10,517
Corporate membership Fundraising events		costs		17,672 51531				17,672 ~51531	7,734 ~36679
				~69 203			12,750	~144 751	66575
12.Support Costs				Generating
				furirls	Charitable	activities	Governance	Totalfunds	Tntalfunds
				2023 8	2023 I		2023 I	2023 E	2022 6
Skff costs				183,453		167,839	39,033	390,315	354,345
PR aod promotions				38,831		35,527	8,262	82,620	47,985
General administration		costs		31,093		29,361	6,828	68,182	21,597
Other depreciation				7 380			l. 57D	15,703	17288
				~261 757				~556930	~441 215

13.Property Expeiiaea
								Unresticted		funds	Restricted funds	Total ftlhda	Total funds
									2023		2023	2023	2022
									E		E	E	E
Premises
General premises expenses									170,275			170,275	153,640
Premises depreoation Fmance									84,621			84,621 ~80 950	96,138 ~80 797
												335846	330575
14.Net Incoming /(Outgoing)		Resources
This is stated after chargmg												2023	2022
												E	8
Oepreoabon oftangible fixed	assets;
Owned by the chantable Auditors remuneration	group											100,324 ~12 750	113,426 ~tt 65D
During the year, no trustees	received		any	remuneration			(2022: INil)
Durmg the year, no trustees	received		any	benefits		in land (2011:ENil)
Ounng the year, no trustees	received		reimbursement				of expenses (2022i ENII)
15.Staff Costs
												2023 F.	2022I
Staff costs were as follows:
Wages and salanes												367,685	315,262
Temporary staff costs												11,262	9,615
Employers pension contnbutions												40,173	32,371
Other staff benefits												5,677	5,339
Employers National insurance	contributions											37,410	33,208
Staff traming Corporate Fund Contnbution												598 ~74,000	34D ~45 QQD
												~388 805	~351 135
												2023	2022
												NO.	Ne.
The average monthly number	of	employees			during	the year was		as follows
												2023	2022
												No.	No.
The number of higher paid employees			was'.
ln the band 680,000-19D,QQQ
												2023 E	2022I
Tatal cost of key management	personnel			induding		remuneration,		pension,	benefits	and		~(21 533	115,630

Freehold property	Improvements property	Fixtures, fittings, equipment lt Soltware
		6
3,219,610	429,140	384,271
		5,380
~3219610	~429 140
440,373	298,904	311,451
32,196	43,140	24,988
~472 569	~342 044
~2747 041	~87096	53,212
~2779 236	~130236
Frederick Parker
Collection I	Trophies I	Total
136,726	31,384	4,201,131
		5,380
~236 726	~31384
9,520	31,384	1,091,632
		100,324
~9520	31384
~127 206
~127206

Fixtures,
fittings,
equipment	Frederick
and	Parker
soltware	Cogsction	Trophies
			Total
			E
133,439	136,726	31,384	301,549
5,380			5,380
~238$19	~136726	~31384
85,170	9,520	31,384	126,074
15,702			15,702
~IDD 872	9520	31 384
~37 947	~127 206
~48269	~127 206

17.Fixed As	mts I	nv	e*me	nts
														Listed	securities
Group															E
Market value
At 1st May		2022													'I,865,110
Additions															691,172
OISPOSals															(901,871)
Unreagsed gains/losses
At 30Apnl		2023
Group investments		at market value					comprise:					2023			2022I
Listed investments												~4284	165
All the fixed asset mvestments				are held		in the UK
														Listed	securities
Parent charity															I
Market value
At 1st May		2022													4,865,110
Additions															691,172
Oisposals															(901,871)
Unreahsed gains/losses
At 30 Apnl		2023
Parent charity investments				at market value compdise:								2023			2022
															E
Listed investments												~4284	165
Ag the fixed asset investments				are held		in the UK
1S.Debtors													Parent	chari
								2023		2022		2023			2022
								6		8		E			E
Trade debtors								115,706		135,418		86,778			91,485
Amounts owed	by group		undertakings									51,534			51,534
Amounts owed	by undertakmgs			m which			the company has
partiopating interest								88,423		130,877		88,423			130,877
VAT											262	3,645			517
Other debtors Prepayments and accrued Income								~68 216		25	109	34	540 669		13,858
								~272 345		~291686
Oue alter more than one year
Amounts owed	by group		undertakings
19.Creditors									Grav				Parent	charity
								2023I		2022I		2023 8			2022 E
Mortgage payments		due	within	one year				75,000		73,172
Trade creditors								40,38'I		2,734		14,830			2,734
Amounts owed	to group		undertakings									12,931			12,529
Amounts owed	to other		participatmg		interest			1,725		2,205
Other taxatlon	and social security							10,679		10,123		10,679			10,123
VAT								4,547
Other creditors Accruals and deferred		mcome						10,339 ~223 433		10,873 211128		~203	455 027		989
20.Creditors	Due After More than						One Year
Mo*gage Long term loan	owed	to	other	partiopatlng			interest	1,217,498 ~118582		1,292,457 115697
								~1336080		~1408	154

						NOTES TO THE FINANCIAL STATEMEHTS	NOTES TO THE FINANCIAL STATEMEHTS	NOTES TO THE FINANCIAL STATEMEHTS
						FOR THE YEAR	ENDED 30APRIL	2023
21.matement			of Funds
					2023	2D23	2023		2023	1023	2023
GIOUp					Brought	tncominp	ROSOUICCS		Gains/	FUOS	Carried
					folwsni	romUIcos	espcnded		(losses)	tfahsfef	forward
					E	E	E		6	6	E
Unrestricted		funds
GefleIBI funds Revalualun felsrvs					4,996,894 ~IOLBI&i	668,918	(1,763,010)		234,934 ~309		4,547,736 ~t)09516
					~6926 iSE	~660 918	I 63010		~74 814		6757 252
					2023	2023	1023		2023	2023	2013
Parent charity					SIOUght	Incoming	RssoUrcas		Ginns/	Fund	Carried
					f0lwa I'd	ISSOUfCCC	CspChdCd		(106ses)	transfer	ferward
					E	E	6		E	E	E
Unrestricted		runds
Generalfunds Revaluation	reserve				4,369,631 1571 100	578,454	(1,174,267)		734,934 ~309740		3,999,757 I 261 352
					~5931731	~578454	1174162		~74 814		~5261 109
2022 Statement of Funds
					2022	2022	2022		2022	2022	2022
Group					Bmught	Incoming	Resources		Gains/	Fund	Carried
					forward	fsscUfcm	IBlpehdlul		(106686)	transfer	forward
					E	E	6		E	6	E
Uhfestflcted		funds
General funds Revaluation reserve					4,1M8,537 ~7902	793,301	(949,455)		214,511 ~430		4,906,894 ~2019264
					~7439	~793 301	CW 4SS		216 127
Restricted	funds
Maple Rarner		Trust	restricted	funds	27 375		77375
					27 375		17375
					~7325$14	~793 301	~976	0	~216 127