REGISTERED CHARITY NUMBER: 1044726 Report of the Trustee and Unaudited Financlal Statements for the Year Ended 30th June 2024 THE WORSHIPFUL COMPANY OF FARRIERS. CHARITABLE TRUST 1994 Knox Cropper Chartered Accountants LLP 65 Leadenhall Street London EC3A Z4D
THE WORSHIPFUL COMPANY OF FARRIERS. CHARITABLE TRUST 1994 Contsnts of tho Financlal Statements for the Year Ended 30th June 2024 Page Report of the Trustee Independent Examiner's Report ststement of Financial Activities Balance Sheet Notes to the Financial Statements 8 to 15 Detailed Statement of Financial Activities 16 to 17
THE WORSHIPFUL COMPANY OF FARRIERS. CHARITABLE TRUST 1994 Report of the Trustee for the Year Ended 30th June 2024 The Trustee presents the financial statements and report of the charity for the year ended 30th June 2024. The Trustee has adopted the provisions of Accounting and Reporting by Charits"es" Statement of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims The charity's objects, as set out in its trust deed, are.. 1. The training and education of farriers and prospective farriers in the skill and perf0mnCe of their craft or profession and the promotion of proficiency among farriers. 2. The relief of poverty, hardship. sickness and suffering among farriers and apprentice farriers, liverymen, and their families. 3. The relief of suffering and distress of horses. 4. Other charitable purposes as the Trustee thinks fiL ACHIEVEMENT AND PERFORMANCE Charitable activities The Charity receives donations from Company members and others from a variety of sources, including the circulation of the"Charitable Anvil" at Company functions. Donations and bequests are also received from time to time. The Charty's key beneficiaries a Farriery Examinab'ons Ltd (°FE°) and Farriery Craft and Education Ltd ('FCE'). FE is responsible for the oversight of farriery examinations in the UK. The company's activity is central to the fulfilment of the Charity's objects.ves to the welfare of the horse through excellent farriery. FCE runs CPD and other events related to Farriery craft and educational matters. The Charity also makes smaller donations as neSSary in pursuit of the other objective of the relief of poverty and suffering of farriers, apprentice farriers and their immediate family. The Charity awarded total grants of £113,830 (2023: £87,380) and supported students through the Equine Vet StudFes Award amounting to £5,018 (2023." £4.092) FINANCIAL REVIEW Financial position The Charity recorded a small decrease in income from £70.134 to £68,851. representing a decreased level of donations and legacies but with an increase in investment income. Total Expenditure increased to £140,306 (2023: £112,790). induding grants of £75.000 made to FE and grants of £32.500 to FCE in the year. The were net investment gains of £191.370 (2023: £30.915). As a result, the Charity had a net income of £119,915 (2023: net expenditure of £11,741). Total funds at the year-end amounted to £2,071,042 (2023.. £1,951,127) of which £426,557 is for restricted purposes and £1,644,485 representing unrestricted funds. The Charity is well funded Page 1
THE WORSHIPFUL COMPANY OF FARRIERS. CHARITABLE TRUST 1994 Report of the Trustse for the Year Ended 30th June 2024 FINANCIAL REVIEW Investment policy and objectives The Charity maintains a number of investment ndS in pursuit of its activrties. The Charity has delegated discretionary management of the investment portfolio to Rathbones Group plc, who manage the investments in accordan with the investment strategy set by the Company. The Trustee's overall strategy is to invest pwdently and conservatively, bearing in mind the charitable aims set out above. The Trustee appoints an Investment Committee, thaired by the Honorary Treasurer, which meets b1 a year with a fund manager from Rathbones Group plc to discuss investment perfomance and strategy. The Investment Committee reports its activities to the Court for approval. The Investment Committee is made up of Liverymen who have suitable professional backgrounds to fulfil their duties. There are no restrictions in the trust deed on the type of investment in which the Charity can invest. However, as a comparatively small fund with very limited inflows of new monies, investment in quoted securities (equities, bonds and both open and close-ended funds) is considered by the Trustees to be the only practical method of obtaining a balance befvrfeen current income. security of capital and future growth. The fund is too small to invest directly in land or real propety. Reserves policy The Charity needs to taIn income in order to safeguard its future. The Trustee seeks to maintain reserrfes at level that will ensure that the income therefrom is sufficient to cover one yearfs average total expenditure. Both the level of reserves and the reserves policy are reviewed on an annual basis. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The Worshipful Company of Farriers. Charitable Trust 1994 is an unincorporated charity registered under the Charities Act 1993. The registered number is 1044726. The charity is governed by a trust deed dated 14 December 1994. Decision making The Trustee of The Worshipful Company of Farriers, Charitable Trust 1994 is The Worshipful Company of Farriers. The Company's affairs are managed by a Court who meet ft)ur times a year to discuss matters relating to the Charitable Trust. An annual review of the Charitable Trusts, operations, aims and objectives is held at one of these meetings, the last being held on 24 June 2024. The Trustee has had due regard to the Charity Commission's guidance on public benefft when planning the Charity's actÉvÉties. The officers of the Company meet as a Master & Wardens committee on a regular basis and act as an executive committee. Their activities are reported to, and approved by, the Court as required. Court and Master & Wardens meetings are chaired by the Master, who is an appointed by the Court annually and serves a one-year term of office. The Court regularfy appoints new Court Assistants to seNe on the Court and who, if elected will, in time, progress to become Master. The current officers of the Court are.. _ Mrs H Clabon Mr M Russell Mr J Chilman Mr J Cowper-coles Dr L Brown MrPR Watts (Master) (Immediate Past Master) (Upper Warden) (Middle Warden) (Renter Warden) (Honorary TreaSUr) Page 2
THE WORSHIPFUL COMPANY OF FARRIERS. CHARITABLE TRUST 1994 Rèport of the Trustee for the Year Ended 30th June 2024 STRUCTURE. GOVERNANCE AND MANAGEMENT Rlsk management As part of its oversight of the Charitable Trust, the Court of the Worshipful Company of Farriers, as Corporate Trustee, considers that there are possible risks to the Trust and has put into place policies and procedures to mitigate them. These risks are 1. Falls in the value and yield of quoted assets. The Charity relies heavily on investment income to maintsin its activities. Therefore, this risk is considered to be significant. The Investment Committee has a specÉfic role in working with Rathbone Brothers plc. to ensure that the Company's short and long-term financial requirements are balanced effectively. Rathbone Brothers plc. are authorised to act on the Trustee's behalf for day-to-day investment management purposes and are FCA- authorised and subject to FCA rules on the treatment of client as*ts and cash. Details of all trading activities are provided to members of the Investrnent Committee as they occur. As well as m&ts"ng with the Investment Committ. Rathbone Brothers, manager also submits quarterly reports and half-yearly valuations to the Trustee. The Trustee is conscious of its responsibility to review the Managerfs perfonnance at regular intervals and to compare it against firms offering a similar serrfice to charities. which rt does via the Investment Committee on a six monthly basis. The Trustee considers that these policies provide as much protection as can reasonably be obtained against falls in quoted asset values, either in the normal course of the markets or triggered by political, strategic, or economic circumstances entirely beyond the Trusys control or influence. 2. Fraud The risk of fraud is considered to be low. All charitable disbursements by the Trust require the consent of the Master & Wardens Committee of the Court, which is its executive body. The Committee's decisions are recorded in writing and submitted in a report to each quarterly meeting of the Corporate Trustee. A full statement of the movement of funds during the quarter is also submrtted. The Trust makes electronic payments and onty pays by cheque in exceptional circumstances. The Trust's Bookkeeper sets up payments as required using the Bank's online payment system but is not able to authorise external payments. Such authorisation is provided by two of the three Trust Officials pemiitted to authorise such transactions, being the Honorary Treasurer, Clerk, and one other Court member. In eXptIOnal circumstances, the Bookkeeper prepares a cheque which requires the signature of any of the Trust Officials above for those up to the value of £500. and the signatures of any two of the above for amounts over that sum. The Trust's quoted investments and temporary cash balanS forming part of the investment portfolio are managed by a reputable fimi appointed by the Trustee. The firm is FCA-authorised and subject to FCA rules on the treatment of client assets and cash. The Trust is subject to independent examination and makes regular returns to the Charity Commission. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1044726 Principal address Magnesia House 6 Playhouse Yard London EC4V SEX Trustee The Worshipful Company of Farriers Page 3
THE WORSHIPFUL COMPANY OF FARRIERS. CHARITABLE TRUST 1994 Report of the Trustee for the Year Ended 30th June 2024 REFERENCE AND ADMINISTRATIVE DETAILS Independent Examlner Knox Cropper Chartered Accountants LLP 65 Leadenhall Street London EC3A 2AD Bankers Lloyds Bank PIC 39 Threadneedle Street London EC2R 8AU Investment Advisers Rathbones Group PIC 8 Finsbury Circus London EC2M 7AZ Approved by order of the Trustee on 26th September 2024. and signed on its behalf by.. Mrs H Clabon Master of The Worshipful Company of Farriers Page 4
Independent Examiner's Report to the Trustee of The Worshipful Company of Farriers. Charitable Trust 1994 Independent examinerfs report to the trustee of The Worshlpful Company of Farriers. Charitable Trust 1994 I report to the charity trustee on my examination of the accounts of The Worshipful Company of Farriers, Charitable Trust 1994 (the Trust) for the year ended 30th June 2024. This report is made solely to the Trustee, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might carry out an Independent Examination of the financial statements in accordance with the General Directions given by the Charty Commissioners and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assume responsibility to anyone other than the Trust and Trust's Trustee, as a body, for our work, for this reporL or for the opinions we have fomied. Responsibilities and basis of report As the charity trustee of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Acf). I report in SpeCt of my examination of the Trusfs accounts Carried out under section 145 of the Act and in carrying out my examination I have foltowed all applicable Directions given by the Charity Commission under section 145(5){b) of the ACL Independent examinerfs statement I have completed my examination. I confirm that no material matters have corrE to my attention in connection with the examination giving me cause to believe that in any material respecL 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 conceming the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no cOnrnS and have come across no other matters in connection with the examination to which attention should be drawn in this port in order to enable a proper understanding of the accounts to be reached. Greg Stevenson FCA Knox Cropper Chartered Accountants LLP 65 Leadenhall Street London EC3A 2AD j l, 01.kn 2oL4 Page 5
THE WORSHIPFUL COMPANY OF FARRIERS. CHARITABLE TRUST 1994 Statement of Financial Actlvities for the Year Ended 30th June 2024 2024 Total funds 2023 Total funds Unrestricted Restricted funds funds Notes INCOME FROM Donations and legacies 6.632 6,632 11,018 Investment income 8,519 59,116 Total 60.332 8,519 68.851 70,134 EXPENDITURE ON Raising funds Investment management costs 8,001 10.759 10,360 8,001 2,758 10.759 10,360 Charitable activities Equine Vet Studies Award Grant making 5.018 5,018 124,529 4,092 98,338 124,529 Total 132.530 7,776 140,306 112,790 Net gainsl (losses) on investments 42,478 191,370 30.915 NET INCOMEIIEXPENDITURE) AND NET MOVEMENT IN FUNDS 76,694 43,221 119,915 (11,741) RECONCILIATION OF FUNDS Total funds brought forward 1.567,791 383,336 1.951,127 1,962,868 TOTAL FUNDS CARRIED FORWARD 1,644.485 426,557 2,071042 1,951,127 The notes fonn part of these financial ststements Page 6
THE WORSHIPFUL COMPANY OF FARRIERS. CHARITABLE TRUST 1994 Balance Sheet 30th June 2024 2024 2023 Notes FIXED ASSETS Investments 10 2,070,771 1,949,787 CURRENT ASSETS Debtors Cash at bank 11 354 1,861 6,364 7,425 8,225 CREDITORS Amounts falling due within one year 12 (7.154) (6,885) NET CURRENT ASSETS 271 1,340 TOTAL ASSETS LESS CURRENT LIABILITIES 2,071,042 1,951.127 NET ASSETS 2.071,042 1,951,127 FUNDS Unrestricted fiJnds Restricted funds 14 1,644,485 426 557 1,567,791 383,336 TOTAL FUNDS 2,071,042 1,951,127 The financial statements were approved by the Tmstee and authorised for issue on 261h September 2024 and We signed on its behalf by: Mrs H Clabon Master of The INorshipful Company of Farriers PMJ MrPRWatts Honorary TreaSUr The notes fom) part of these financial statements Page 7
THE WORSHIPFUL COMPANY OF FARRIERS. CHARrrABLE TRUST 1994 Notes to tho Financlal Statements for the Year Ended 30th June 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charity, which is a public benefft entty under FRS 102, have been prepared in accordance with the Chartties SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charikn'es Act 2011. The financial ststements have been prepared under the historical cost convention, with the exptIOn of investments which are included at market value, as modffied by the revaluats'on of certain assets. The accounts (financial statements) have been prepared to give a 'true and fairf view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view,. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. Going concern The Trustee considers that there are no material uncertainties about the Charity's ability to continue as a going concem. The most significant areas of uncertainty that affect the carrying value of assets held by the Charity are the level of investment return and the performance of investment markets (see the Trustee's report for more information). Income l income is recognised in the Statement of Financial Activities On the charity has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constwctive obligation committing the charity to that expenditure. it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Vvhere costs cannot be dIreCY attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year*nd date are noted as a commitment but not accrued as expenditure. Taxation The charity is exempt from tax on its charitable activities. Fund accountin9 Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specffied by the donor or when funds are raised for restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Page 8 continued...
THE WORSHIPFUL COMPANY OF FARRIERS. CHARITABLE TRUST 1994 Notes to the Financial Statoments - continued for the Year Ended 30th June 2024 ACCOUNTING POLICIES - continued Investments Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at fair value as at the balan sheet date using the closing quoted market price. The ststement of fjnancial acts'vities includes the net gains and losses arising on revaluations and disposals throughout the year. Realised gains and losses on invesbnents are calculated as the difference between sales proedS and their opening carrying value or their purchase value if acquired after the first day of the financial year. Unrealised gains and losses are calculated as the difference betrwen the fair value at the year end and their carrying value. DONATIONS AND LEGACIES 2024 2023 Anvil Colleckn'ons Donations Legacies Gift aid 3,701 1,706 3,600 6,169 1.225 1,249 6,632 11,018 INVESTMENT INCOME 2024 2023 Dividends and fixed interest 59.116 INVESTMENT MANAGEMENT COSTS 2024 2023 Portfolio management 10,759 10,360 CHARrrABLE ACTIVITIES COSTS Grant funding of activities (see note 6) Support costs {see note 7) Direct Costs Totals Equine Vet studies Award Grant making 5,018 5,018 124,529 113,830 10,699 5,018 113.830 10,699 129.547 Page g conts'nued...
THE WORSHIPFUL COMPANY OF FARRIERS. CHARITABLE TRUST 1994 Notes to the Financial Statements - continued for the Year Ended 30th June 2024 GRANTS PAYABLE 2024 2023 Grant making 113,830 Donations were made to the following: 2024 2023 Farriery Examinations Ltd Farriery Craft & Education Ltd st Martin in the Fields Htgh School for Girls First Aid Nursing Yeomanry (PRVC) The Brooke Hospital other institutions (< £1,000) 75,000 32,500 1,500 500 55,000 25,000 1,500 300 1,000 4,580 113,830 87,380 Payments to needy farriers Donations to individuals £113,830 £87,380 SUPPORT COSTS Goveman costs Management Totals Grant making 6.281 4,418 10,699 Support costs, included in the above, are as follows: 2024 2023 Total activities Grant making Clerk's salary Bank charges Trustee Training nsurance Accountancy and legal fees Independent Examination 5.912 135 5.480 123 234 2.000 2,418 585 1,900 2,370 10.699 10,458 Page 10 continued...
THE WORSHIPFUL COMPANY OF FARRIERS. CHARITABLE TRUST 1994 Notes to the Flnancial Statements - continued for the Year Ended 30th June 2024 TRUSTEE'S REMUNERATION AND BENEFITS The Trustee, The Worshipful Company of Farriers. was reimbursed for the serrfices of its Clerk amounting to £5.912 (2023.. £5,480). Trustee's expenses The were no trustees, expenses paid for the year ended 30th June 2024 nor for the year ended 30th June 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- 2023 Unrestricted Restricted funds funds Total funds INCOME FROM Donations and legacies 10.768 250 11,018 Investment income 50,053 9,063 59.116 Total 60,821 9.313 70,134 EXPENDITURE ON Raising funds Investment management costs 7.735 2,625 10,360 7.735 2,625 10,360 Charitable activities Equine Vet Studies Award Grant making 4,092 500 4,092 98,338 97,838 Total 105.573 7,217 112.790 Net gainsl(losses) on investments 23,743 7,172 30,915 NET INCOMEI(EXPENDITURE) (21.009) 9,268 (11.741) RECONCILIATION OF FUNDS Total funds brought foard 1.588,800 374.068 1.962,868 TOTAL FUNDS CARRIED FORWARD 1.567,791 383,336 1.951,127 Page11 continued...
ThE WORSHIPFUL COMPANY OF FARRIERS. CHARITABLE TRUST 1994 Notes to the Financial Statements - continued for the Year Ended 30th June 2023 10. FIXED ASSET INVESTMENTS Listed investments MARKET VALUE At 1st July 2023 Additions Disposals Realised and unaliSed gains Movement in Cash 1,949,787 88,801 (116,386) 191,370 42 801) At 30th June 2024 2,070,771 NET BOOK VALUE At 30th June 2024 2.070,771 At 30th June 2023 1,949,787 There were no investment assets outside the UK. Induded in the Net Book Value is cash held pending investment of £26,494 (2023: £69,295). 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Worshipful Company of Farriers Gift aid and tax recoverable 150 204 163 354 1,861 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other creditors 7,154 6,885 13. ANALYSIS OF NET ASSETS BEfwEEN FUNDS 2024 Total funds 2023 Totsl funds Unrestricted Restricted funds funds Investments Current assets Current liabilities 1,729.304 178.3571 6.4621 341,467 85,782 692) 2,070,771 7,425 7,154) 1,949,787 8,225 6,885) 5 426,557 2,071,042 1.951,127 Page 12 continued...
THE WORSHIPFUL COMPANY OF FARRIERS. CHARITABLE TRUST 1994 Notes to the Financial Statements - continued for the Year Ended 30th June 2024 14. MOVEMENT IN FUNDS Net movement in funds At 30.6.24 At 1.7.23 Unrestricted funds General fund Anvil Fund 1,567,791 76,694 1,644,485 1,567,791 76,694 1,644,485 Restricted funds Oliver Award Fund Desert Orchid General Fund Desert Orchid ApprentIShIp Fund Desert Orchid Intemational Institute of Farriery 14,960 158,880 135,938 2.166 19,812 12,029 17.126 178.692 147,967 9,214 82,772 383.336 43.221 426,557 TOTAL FUNDS 1.951,127 119.915 2,071042 Net movement in funds, included in the above are as follows: Incoming resources Resources expended Gains and Movement losses in funds Unrestricted funds General fund Anvil Fund 60,332 1132,530) 148.892 76,694 60.332 (132,5301 148,892 76,694 Restricted funds Oliver Award Fund Desert Orchid General Fund Desert Orchid Apprenticeship Fund Desert OrchKI International Institute of Farriery 513 3.443 2.962 1,653 17,555 15,105 2,166 19,812 12,029 (1.186) (6,038) 1.601 9,214 8,519 ,776 42.478 TOTAL FUNDS 68.851 140.306) 191,370 119.915 Page 13 continued...
THE WORSHIPFUL COMPANY OF FARRIERS. CHARITABLE TRUST 1994 Notes to the Financial Statemènts - continued for the Year Ended 30th June 2024 14. MOVEMENT IN FUNDS- continued Comparatlves for movement in funds Net movement in funds At 30.6.23 At 1.7.22 Unrestricted funds General fund Anvil Fund 1.588,800 (21.009) 1,567.791 1.588,800 (21,009 1,567,791 Restricted funds Oliver Award Fund Desert Orchid General Fund Desert Orchid Apprenticeship Fund Desert Orchid International Institute of Farriery 14,170 153.455 135,349 790 5,425 589 14,960 158,880 135,938 71,094 2,464 73,558 374.068 9.268 383,336 TOTAL FUNDS 1,962,868 11,7411 1,951,127 Net movement in funds, included in the above are as follows: Incoming reSoUrS Resources expended Gains and Movement losses in funds Unrestricted funds General fund Anvil Fund 60,821 (105,573) 23,743 {21.009) 60.821 {105,573) 23,743 (21,009) Restricted funds Oliver Award Fund Desert Orchid General Fund Desert Orchid Apprenticeship Fund Desert Orchid International Institute of Farriery 492 3.850 3.257 {500) (1,102) {5,090) 790 5,425 589 2,677 2,422 1,714 2.464 9.313 7.217 7,172 9,268 TOTAL FUNDS 70,134 112 790) 30.915 11.741) Page 15 continued...
THE WORSHIPFUL COMPANY OF FARRIERS. CHARITABLE TRUST 1994 Notes to the Financial Statements - continued for the Year Ended 30th June 2024 14. MOVEMENT IN FUNDS- continued The Anvil Fund is a designated fund used to receive collections from Liverymen through "The Charitable Anvil and other minor donations to be used for general charitable purposes permitted by the trust deed. The Oliver Award established to provide silver medals to farriers who achieve the Associateship award with honours. The Desert Orchid Funds were established to provide funds for craft, training, higher education, and the International Institute of Farriery. 15. RELATED PARTY DISCLOSURES The charity donated £75.000 (2023: £55.000) to Farriery Examinations Limited and £32,500 (2023: £25,000) to Farriery Craft & Education Ltd both companies limited by guarantee of which the Trustee, The Worshipful Company of Farriers. is the sole guarantor. In addition to the transactions noted in Note 8, the charity was recharged £234 {2023: £585) by The Worshipful Company of Farriers for its share of the insurance premium. At the year-end £150 was due to the Charity from the Trustee {2023: £163 due to the Charity). 16. COMPARATIVE ANALYSIS OF NEf ASSETS BETWEEN FUNDS 2023 Totsl funds Unrestricted Restricted funds funds Investments Current assets Current liabilities 1,628,069 154,056) 6.2221 321,718 62,281 663) 1.949,787 8,225 6,885) 1567.791 383,336 1,951.127 Page 15 conkn'nued...
THE WORSHIPFUL COMPANY OF FARRIERS, CHARITABLE TRUST 1994 Detailed Statement of Flnancial Activities for the Year Ended 30th June 2024 2024 Total funds 2023 Tots fvnds Unrestricted funds Restricted funds INCOME AND ENDOWMENTS Donations and legacies Anvil Collections Donations Gift Aid 3,701 1.706 1,225 3,701 1,706 1,225 3,600 6,169 1,249 6.632 6,632 11.018 Investrnent income Dividends and fixed interest 53,700 8,519 62,219 59.116 Total incoming resources 60.332 8.519 68,851 70.134 EXPENDITURE Investment management costs Portfolio management 8.001 2,758 10.759 10,360 Charitable activities EVSA Grants to institutions Prizes Grants to individuals 5,018 5,018 113,830 4,092 87,380 500 113.830 121,831 7.776 129,607 91,972 Support costs Management Management Insurance Bank charges 5,912 234 135 5,912 234 135 5,480 585 123 6.281 6,281 6,188 Governance costs Accountancy and legal fees Trustee Training Independent Examination 2,000 1,900 2,418 2,418 2,370 4A18 4,270 Total reSoUrS expended 132.530 112,790 Net incomel{losses> before gains and losses 172.198) 743 (71.455) (42,656) Gains and losses Carried forward (72.198) 743 (71 N55) (42.656) This page does not fom part of the statutory financial statements Page 16
THE WORSHIPFUL COMPANY OF FARRIERS. CHARITABLE TRUST 1994 Detailed Statemont of Financial Activities for the Year Endod 30th June 2024 2024 Totsl funds 2023 Total funds Unrestricted funds Restricted funds Gains and losses Brought forward 172,198) 743 (71 N55) (42,656) Unrealised {losses)I gains on fed asset investments Realised gainsl(losses) on fixed asset investments 140,609 41,500 182,109 32.989 8,283 978 2,074) Net income l (expenditure 76,694 43,221 119.915 11,741) This page does not form part of the statutory financial statements Page 17