WEAVERS FULLERS & SHEARMEN
CHARITIES UMITED
{Limited by Guarantee)
UNAUDtfED FINANCIAL STATEMENTS
Year Ended 31 March 2024
CHARITY NUMBER 1052124
COMPANY NUMBER 2434328

WEAVERS FULLERS & SHEARMEN
CHARITIES LIMITED
YEAR ENDED 31 MARCH 2024
CONTENTS
Page
Legal & Administrative Information
Trustees, Report
24
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
9-12

WEAVERS FULLERS & SHEARMEN
CHARITIES UMITED
LEGAL AND ADMINISTrATIVE INFORMATION
TRUSTEES
N Hole lappointed 12 September 20241
HR Parkin Iresigned 12 September 20241
l T Gardner
N Sprague
R Marsh
J Brookes
SECRETARY
R Thomas Iresign8d 31 May 20241
R Whitson (appointed 31 May 20241
REGISTERED OFFICE
Bush & Co Limited
2 8arnfield Crescent
Exeter
EX1 1QT
INDEPENDENT EXAMINER
C Dymond FCCA, ACA, CTA
Bush & Co Limited
2 Barnfield Crescent
Exeter
EXI IQT
BANKERS
Lloyds Bank PIC
High Street
Exeter
SOLICITORS
Michelmores LLP
Woodwater House
Pynes Hill
Exeter
EX2 5WR

WEAVERS FULLERS & SHEARMEN
CHARITIES UMITED
TRUSTEES, REPORT
YEAR ENDED 31 MARCH 2024
GOVERNANCE
This report also serves as a directors. report as required by company law.
The Company was incorporated in England and Wales on 20 October 1989 and is limit8d bv
guarantee under Company number 02434328. It is a registered Charity under number 1052124 and
is governed by its Memorandum and Articles of Association.
The directors of the charitable company I'the charity") are its trustees for the purpose of charity law
and throughoul this report are collectively referred to as the trustees. Trustees are appointed by the
members of the charitable company attending the Annual General Meeting. Each year one third of
the Trustees retire from office but are eligible for re-election. The numb8r of trustees shall not be less
than 3 nor more than 20.
The Trustees delegate decisions to an Executive Committee of the Incorporation of Weav8rs Fullers
& Shearmen who are appointed annually. All administration functions are carried out by the Clerk.
The Trustees are appointed from The Court of Assistants of The Incorpor8tion of W88ver8 Full8r8
& Shearmen. who consist of prominent local business people who become 8SSiStants by invitation
and are provided with a full hislory of the Charity, its objectives and management procedures.
They are also Trustees of Tuckers Hall IExeterl Limited, charity number 0291764. company number
1885692,
PUBLIC BENEFIT STATEMENT
The Trustees have reviewed the Outcomes and achievements of our objectives and activities for th8
year, to ensure they remain focused on our charitable aims. and continue to deliver benefits to the
public. We have complied with the duty under the Charities Act 2006 to have due regard to public
benefit guidanc8 published by the Commission.
OBJECTS AND ACTIVITIES
The object of the charity is to relieve cases of need. hardship or distress suffered by residents in th8
county of Devon.
GRANT MAKING POLICY
Grants are made lo two local Devon parishes and a further grant is made to a charity chosen by the
current Master of the Incorporation of Weavers Fullers & Shearmen.
ACHIEVEMENTS AND PERFORMANCE
£12,27812023.. £10.4561. including gift aid. has been raised in the financial year with further donations
promised in future years. Total income for the year was £33.899 12023.. £41,503) and total
expenditure £4.71412023: £22,243>. After gains on investments. the net income for the year was
£27,89212023: £14.6521.
Charitable payment totalling £1,80012023: £7,350> were made during the past year in respect of the
charity's main objective. Two gifts totalling £60012023.. £6001 were made to local churches in two
parishes in Devon. It is anticipated that a similar level of grants will be made next year.

WEAVERS FULLERS & SHEARMEN
CHARITIES UMITED
TRUSTEES. REPORT
YEAR ENDED 31 MARCH 2024
All work done on behalf of the charity by the Trustees and the Executive Committee was entirely
voluntary.
The charit18s r8serves are held and invested to produce as high an income as possible without
prejudicing the long term capital value of the investments. At the year end the reserves amounted
to £246,55312023 £218,660).
In March 2020, the charity purchased a commercial property in Exeter for £274,515 funded partly
from the charity's own resources and by a £200.000 loan from a private individual. The loan is
interest free and repayable over 20 years. The reason for the purchase is to enable a company called
The Hair Academy to relocate its business within Exeter as it had to vacate its existing premises. The
Hair Academy, run by Mary Pugsley MBE. helps disadvantaged young people in the local area to
obtain training, particularly in the hair sector, enabling them to obtain skills that they can use to
support themselves in the future. This fits with the aims and objectives of the charity to help young
people locally into the workplace.
The Hair Academy entered into a 15 year commercial lease with the charity as at 1 June 2020. the
income from which will enable the loan to be repaid and also from which grants can be made.
The charity renovated the building in Ihe early months of 2020 prior lo it being occupied by The Hair
Academy. This brought the building up to standard prior to the granting of the new lease.
The charities investmenls comprise a holding in M&G Charifund Units. The capital value of
investments have slightly reduced in the year. The trustees aim to maintain the level of reserves to
ensure that the income is sufficient lo meet charitable giving.
RELATED PARTIES
The charity has common Trustees with Tuckers Hall (Exeterl Limited- another charity. Both charities
were set up by the Incorporation of Weavers Fullers & Shearmen.
TRUSTEES RESPONSIBIUTIES IN RELATION TO THE FINANCIAL STATEMENTS
Company law requires the trustees to prepare financial statements for each financial year which
show a true and fair view of the state of affairs of the charity and ils total income for that period. In
preparing the financial statemenls the truslees are required to:
selecl suitable accounting policies and then apply them consistently".
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards and statements of recommended practice
have been followed, subject to any departures disclosed and explained in the financial
statements: and
prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the charity will continue in operational existence.
Th8 trustees are responsible for keeping proper accounting records which disclose with reasonable
accuracy at any time the financial position of the charity and to enable them to ensure that the
financial statements comply with the Companies Act 2006 and the Charities Act 2011. The trustees
are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps
for prevention and detection of fraud and other irregularities.

STATUS OF REPORT
This report.
Compani
and si
ch has been prepared in accordance with the special provisions of Part 15 of the
006 relating io small companies, was approved by the Board on . 2811 O/ZOZ!tr
s behalf.
Act
N Sprague (Director)
R Marsh IDirector)

INDEPENDENT EXAMINERS REPORT
TO THE TRUSTEES OF
WEAVERS FULLERS & SHEARMEN CHARITIES LIMITED
I report on the accounts of the Charity for the year ended 31 March 2024, which are set out on pages
6t012.
Respective Responsibilities of Trustees and Examiner
The trustees (who are also the directors of the company for the purposes of company lawl are
responsible for the preparation of the accounts in accordance with the requirements of the
Companies Act 20061'the 2006 Act'l. The charity's trustees considerthat an audit is not required for
this year under Section 144121 of the Charities Act 2011 Ithe 2011 Act) and that an independent
examination is needed.
Having satisfied myself that the Charity is not subject to audit under Part 16 of the 2006 Act and is
eligible for an independent examination it is my responsibility to:
examine the accounts under section 145 of the 2011 Act;
to follow the procedures laid down in the General Directions given by the Charity
Commission under section 1451511bl of the 2011 Act: and
to 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 presented with those records. It also includes consideration of any
unusual items or disclosures in the accounts. and the seeking of explanations from you as trustees
concerning any such matters. The procedures undertaken do not provide all the evidence that
would be required in an audit and, consequently, no opinion is given as to whether the accounts
present a true and fair view" and the report is limited to those matters set out in the statement
below.
Independent Examinar's Statement
In connection with my examination, no matter has come to my attention..
which gives me reasonable cause to believe that, in any material respect, the requirements
to keep accounting records in accordance with section 386 of the Companies Act
2006; and
bl
to prepare accounts which accord with the accounting records, comply with the
accounting requirements of section 396 the Companies Act and with methods and
principles of the Statement of Recommended Practice Accounting and Fleporting by
Cha rities
have not been met or to which, in my opinion, attention should be drawn in order to enabl8
a proper understanding of the accounts to be reached.
C Dymond FCCA. ACA CTA
Streets Bush Limited
Chartered Accountants
2 Barnfield Crescent
Exeter
EX1 1QT

WEAVERS FULLERS & SHEARMEN
CHARITIES LIM￿ED
STATEMENT OF FINANCIAL ACTIVITIES
(INCLUDING INCOME AND EXPENDITURE ACCOUNT)
YEAR ENDED 31 MARCH 2024
Note
Unrestricted Income Funds
2024
2023
INCOME FROM
Donations and Legacles:
Gifts and Donations
Gift Aid Recoverable
10,928
1,350
8,435
2,021
Investments:
Rent received
Dividends Received
Oth8r income
Insurance Fleceipt
Deposit account interest
17.000
4.105
17.000
5,131
668
8,248
516
TOTAL INCOME
33,899
41,603
EXPENDITURE ON
Charitable Activities
Grants Payable in Furtherance olthe Charitys Objeets..
Charitable Gifts
Donations
Support Costx
Fees for Independent Examination
Property Repairs
Sundry Expenses
Legal and Professional Fees
600
1.800
600
7,350
1.985
2,431
11,419
199
244
328
TOTAL EXPENDITURE
4.713
22,243
ILOSSESIIGAINS ON INVESTMENTS
11,2931
14,6081
NET IEXPENDITUREIIINCOME
27.892
14,652
Fund balances brought forward
218,660
204,008
Fund Balances carried forward
246.553
218,660
The notes on pages 9 to 11 form part of these financial statements.

WEAVERS FULLERS & SHEARMEN
CHARITIES LIMITED
BALANCE SHEET
(Registered Number 2434328)
AS AT 31 MARCH 2024
2024
2023
FIXED ASSETS
Investment Property
Investments
283,452
69.497
283.452
70,790
352.949
354.242
CURRENT ASSETS
Cash at Bank
Gift Aid Debtor
Accrued Income
67.921
1.369
1.145
48.152
2.046
1.146
70.435
51,344
CURRENT LIABILMES
Creditors
Accruals
600
1,981
200,IJOO
4.250
10.000
787
1.889
Deferred Income
Loan
4,250
10,000
16.831
16,926
NET CURRENT ASSETS
53.604
34,418
LONG-TERM LIABILITIES
Loan
1160.0001
1170,0001
NET ASSETS
246.553
218,660
RESERVES
Unrestricted fund$
10
246,553
218.660
The financial statements were approved by the Board of Trustees on
The company is entitled to exemption from audit under the Charities Act 2011 and Section 477 of the
Companies Act 2006 for the year ended 31 March 2021.
The members have not required the company to obtain an audit of its financial statements for the year
ended 31 March 2021 in accordance with the Charities Act 201 l and Section 476 of the Companies Act
2006.
The directors acknowledge their responsibilities for-.
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of
the Companies Act 2006 and
bl
preparing financial statements which give a true and fair view of the state of affairs of the company
as at the end of each financial year and of its profit or loss for each financial year i n accordance
with the requirements of Sections 394 and 395 and which otherwise comply with the requirements
of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared in accordance with the provisions applicable to companies
subject to the small companies regime.
The fina
signe
tements were approved by the board of trustees on
28/ioizoi
and were
N Sprague (Dire
or)
R Marsh (Director)
The notes on pages 9 to I I form part of these financial statements.

WEAVERS FULLERS & SHEARMEN
CHARITIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES
Accounting Convention
The financial statements of the charitable company. which is a public benefil 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 1 January 20151.. Section 1A "Small Entities" of
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in th8 UK and
Republic of Ireland, and the Companies Act 2006. The financial statements have be8n
prepared under the historical cost convention with the exception of investments which are
included at market value.
Going Concern
The financial statements have been prepared on a going concern basis as there are no
material unc8rtainties about the charity's ability to continue operating.
Recognttion of Income and Expenditure
Incoming resources are included in the financial statements when receivable. Resources
exp8nded are recognis8d in the period in which they are incurred.
Investments
Investments are stated at market value at the balance sheet date and the gain or loss is taken
to the Statemenl of Financial Aclivities.
Debtors
Debtors are included at the settlement amount due.
Cash at bank
Cash at bank includes cash and short term highly liquid investments with a short maturity of
three months or less from the date of opening of th8 deposit.
Creditors
Creditors are recognised where the charity has a presenl obligation arising from a past event
that will probably r8suII in the transfer of funds to a third party and the amount due to settle
the obligation can be measured or estimated reliably. Creditors are recognised at their
settlement amount,
Grants Payable
Grants payable are charged in Ihe year when the offer is conveyed to the recipient.
Financial Instruments
The charity only has financial assets and liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments ar8 initially recognis8d at transaction value and
subsequently measured at their settlement value.
TAXATION
The Charitable Company is exempt from corporation tax on its charitable activities.

WEAVERS FULLERS & SHEARMEN
CHARITIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
TRUSTEES, REMUNERATION AND EXPENSES
No remuneration directly or indirectly out of the funds of the charity was paid or payabl8 for
the year to any trustee or to any person or persons known to be connected with any of them.
No reimbursement of expenses has been made or is due to be made to any of the trustees in
respect of the year.
AVERAGE EMPLOYEES
The average number of employees during the year was nil12023: nill.
GIFTS, GRANTS AND DONATIONS PAYABLE
2024
2023
Glfts
Vicar of Stokenham
Vicar of Ottery St Mary
300
300
300
300
600
600
Donations
Exeter Dementia Alliance
Exeter Food Aclion
Tedd Wragg Trust
Hospice Care
Rock to Recovery
Exeter Sea Cadets
Force Cancer
Exeter Street Pastors
1,000
1,500
3,600
250
1.000
300
1,000
500
1.800
7,350
FIXED ASSETS
Investment Property
Balance at l April 2023
283.452
Balance at 31 March 2024
283,452
The investment propety was valued on an open market basis on 31 March 2024 by the trustees.
10

WEAVERS FULLERS & SHEARMEN
CHARMES UMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
INVESTMENTS
These consist of 4,772.92 income units in The M & G Equities Investment Fund for Charities
Icharifund) as follows:
Balance at 1 April 2023
Revaluation to Market Value
70,790
11,2931
Balance at 31 March 2024
69.497
Historical Cost at 31 March 2024
49,847
CREDITORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR
2024
2023
Creditors
Gifts payable
Accruals
Deferred Income
Loan
187
600
1.889
4,250
10,000
600
1.982
4,250
10.000
16.832
16,926
CREDITORS: AMOUNTS FALLING DUE AFfER MORE THAN ONE YEAR
2024
2023
Loan
170,000
180,000
This loan is interest free with annual repayments of £10.000.
10. RESERVES
Unrestri¢ted Income Funds
Income and Expenditure
Balance brought forward
218.660
Net incoming resources before other
Recognised gains and losses
29.153
Unrealised gainlllossl on revaluation of
assets
held for
investment
purposes.
Balance carried fonNard
247,813

11. COMPANY LIMITED BY GUARANTEE
Every member of the Company undertakes to contribute such amounts as may be required (not
exceeding £11 to the assets of the company if it should be wound up while he is a member or
within one year after he ceases to be a member. for payment of the company's debts and
liabilities contracted before he ceases to be a member. and of the costs, charges and expenses
of winding up, and for the adjustment of the rights of the contributories among themselves.
12