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 perf0m￿nCe 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 ne￿SSary 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 b￿1￿ 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 TreaSU￿r)
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 eX￿ptIOnal
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 balan￿S 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 cOn￿rnS 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, ￿0￿1.￿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 TreaSU￿r
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 ex￿ptIOn 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 dIreC￿Y 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 pro￿edS 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 fo￿ard
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 un￿aliSed 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 ApprentI￿ShIp 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
reSoUr￿S
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
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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 reSoUr￿S 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 f￿ed 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