Charlty numb•r: 1082142
The Worshlpful Company of Communlcators Trust (fomierly known as
The Company of Communlcators Charitable Trust)
Un•udllod
Trust••$' R•port and Flnanclal Stat•m•nts
For th• Y•ar End•d 30 Septsmber 2025

R•f•r•nc• •nd Admln18tratlv• D•tall¥ of tho Cmrfty. Ils TnM100• and Athl8•r•
Tru•l••s' R•port
Ind•pnknl Ewnln•e• R•port
stst•rnnt of FIMn¢l41 A¢d¥ltl••
B•l•nc• Shmt
Not•s to th• Flnanclal Stat•ffl•nts
8-17

Th• Wor8hlplul Company of comM￿lc*10￿ Tn*t
Ref•rence and Admlnlstr411ve Detail¥ of th? Chwmy. Its TnMtM• and Advls•rn
For Ihg Ygar End•d 30 Soptombgr 2025
Tru8te••
Kevln Moore, Chair
John Morgan. Trustee 8 Jlly 2025
Sakly-AM sy￿ Trustee
G(th Adams. Truslee lappoint8d 3 November 2025)
Andrea Debbane. Trustao (ap￿)Int•d 3 Novamber 2025)
Charfty rWthr•d
nufflb•r
1082142
Princlpal offi¢•
CJO Worshipful ConyAny ofGlazlorn and Paintern of Glass
Glazlw8 Hal
9 M￿lague Ckn8e
SE19DD
Acoountsnts
Kre81￿ Reeves LLP
2nd Floor
168 Shorodit(* H*h Strnet
E16RA
Pag8 1

Tru•t•es' Roport
Fty th• Y•ar End•d 30 Wknb•r 202S
The Trust8es pre￿nted the￿ anrNJal rowt Tmth s*18nts of th• Ch&ity for th8 to 30
Septèmber 2025.
The Wor8hipful Cornpany of CommUn￿al018 Tru81 Is a rngotef•J rnrnber 1082142, and is Gon6tituted
under a Trust deed. Thts managwneni of th• Clwity Is thfr respN￿ltsl1ty of ￿ Tr￿Sle@S are eloctod 8rxI c(
opted wder the twms of T￿1 da•d.
The WcrthiF￿l Company of Communicaknrs Tr￿t has due and woper ward for th8 Chwty Commiss*)n
guklance on ￿b￿C bènefft and wmmitin6nt b) be￿ft as set (xTrt in the Charitable TDJst Deed.
Our Charltabt• Trust W88 ￿b￿Shall to lIn￿￿elty clwitatA• (xgarw¥8tions aThl rau8•s that ar• relevant
to communicati￿. 11 Is managwj and adminwred ind8pgthrty of tho C(Thp8ny by a t*)ord of TNstees.
Tha Componl8 Ch8rllabl8 Tfust h88 fw TNslO88.' the Ch8ir, Kèth Moor8 (P8St Masier). th• SKretsry, P8Èt
Master and Treasuror. Saty SW(es (IAasler 2023 - January 2025 and D8puty M8Sttrr 2025 - Jwtuary 20281,
Gordtyi Adams (appointed 3 November 20251, arKI ArKlrea Debbane (appointad 3 Nov8mber 2025). John
Morgan {lomier Cwrt A8slstanll r08bJned as a 8 Juty 2025. The Chalr of Ihe c￿npan￿6 CharNy
Commlttee and the current M8s•tsf Invltsd to TnJs1o• meelnus eX￿ff*lO. The Trustofrs meet 3 or 4 tlmos
year. togolhor wlth Iho Trust'B Investsnant Manag•r8 and are supported by the Clo￿ Dr lan Wingfidd. The Choir
of Iho Charitsbio Trust kq ￿ desqnatod conl8¢t for th• Charty Commi5sN)n and ￿Sur•S that filiTrJ$ to th•
Commimon are accuratè and up to dalé. Th8 Company Treasu￿ rn￿ages the bnks wlth HMRC on Gfft Ad.
Tho Court appoKits the Trustees. Thwe aro no constitu1Th￿l prov511￿ the ippoinlmort of Trust80•,
The Tru81••8 tend b fovtyjr char#l85 lI￿t 8UPVt wtTh• abwty to c(Mnmu￿clt& or enjoy the ben￿tI 01
crJmmuric8tm￿ ar• irty1￿J.
The Tru8ts1$ make ￿ls•flo$ b•8ed ￿ •ppLratknns th•t meel th• Charity8 ¢riter4. The Trustees t&ke a long-
tem aFvoach to ste#ard￿9 thg and maintan 18 In*) ts fvl)Jre by t&%lrvJ step to enwro It• value
does nol drop boknv £3CrfJ,(KJO.
Tho Twslees af￿ thwr Inv•8trnont m￿•3￿S havg an in¥fj8￿ strJtO9y 7hlKh maintslm tho Nwluo of fund
golng foThArd, vffjth th• abilty to mako grants arfsing from irwr ￿rplUS•S (aft•r inwtm•nt manag•monl costs
•rKI Irfflakn 81kM•nces1.
Trustees hovo f¢￿Sed rffj IxAkJkng up lund to ts rnwls#o £300.DXI Ihreshold en8Uing th8 Company
to prc4aresJ to full Wor¥hlFrful ststus. The TTUSt•os ¢uffonlly omsldeflng Ihoy frame and align the Tru6t
and the CompanY$ future Invgstmenl and disbursem•nl strategy, irthjing definlng the18v•l of reservo now Ihi5
h8¥ been athieved. Tlig Trusté•s the Trust'¥ Inveskn￿{ mwa9￿ hove o risk loieranc8 within th& curr•nl
fund that can a¢xommodate a Xl p8r cent reduclv)n. fy)Ing for*4rd. the Trustees inteThd trJ re¥￿￿ tho rigks and
benefits wGh that th• is yeserved at tho mbn*num £3(X),(JXJ thrn8hohd plus allov+8nces fvr inflation, wth
surpluses retaw (mlnu5 cx*ts inllal>Jn al(hYm) 8￿j Warded as w&)t8 In ￿r. as pgrfomarbce
The Trustge5 manay th? financfj81 assets of I￿ Chorit4>b• Trusl in lin with tho requkomwts of tho Chariti95
Commissi(￿. All the monoy Ihat has boen raised for lh8 Tnnt Ihe pas( and vlll be raised n the future, will be
safeguarded oTh1 prth#ed In pwuity tr.
Supprmt thafilablo aTrJ g(Mxl ￿ relovart to ctsnmunlcat1￿$.
Support and maintain the ￿mI0*￿t of £300.IYJ].
Tho Coc charitatJl• committee 18 dgvgkying a 9r8nl 4)KWOgth 5gthng out the prirtlpl•s for
gI￿n9 and Ihe typ98 of ￿nIg￿l￿& wa wpp(yt.
Tr￿1 estabUBh8d to fvifd Iha clwitstde alms of The W(xstopfvl C(*mp8ny of Cornnwni&thrs, which are
to suprxirt w$•s that rn18v•rt to uxnmunK8kn. Tr Tnst YJ[o￿ts the Companl8 awwds for charftabl•
en(leavrAw.

The Worshlplul Company of Comffwnkatorn Trult
Tru8tsa$' Rèport {¢ontlnued)
Far th• Y￿r End•d 30 S•ptsmb•r 1025
Tho Company rK8s8nts $8ts of awards gvory y8¥.
The Clarlty In C¢)nwnunloall¢)n¥ AwaTd is wwarded lor exceNenc• n cwimunThticn8. It r8cognis8S
communlcalk>ns aclfvty wthlch Is carrfed by an Indlvldu81 or C￿￿pary th011s not 4 PTr*fessional c4)mffluniGalion
practbtioner. and who Is also linked to the mov8mgnt Ihg charrtabl8 $￿tOr. The aw8rd Is made In
partnor8hip wrth tho Wor8hlpful C¢)mpany of Glakn and Painter8 of Glas6. wh) c4)mmlssloned tho unlwa glass
roundel that is prnsenled to the wM8r.
The worshipf￿ Company of Glowrs has the 2025 Clty in Charity Commurd¢ats'ons Award fty its Ir￿p￿￿￿j
Inttlalva. Vlrtual Raalmy arKI Assl8kn - Ikvjlrwa a for ￿t￿ng p8ok4e with aub8m"
ompelllion.
The Clty of London Solicitors, Company comiNJ runner5￿p for its Social campahjn to mark Int6rnalional
Women's Day lo b8 part￿￿18T￿ cre8tiv6 and for such a wDrthy cause as the Rights for Women chorty rl
mbatting Violence 8g81nst Women and Gits.
Tlw Comwy d HR Prole68lon818 arKI spodolty lh* Past Master Andrea Eccl&8 wer8 also commW￿8d for
th8lr 8x¢eplkin81 rknnc8 kn r•achlThJ tho £￿).1￿ law to become a IVor8hlpful Compwy.
Th• Plllltsry Communl¢•tor Awwd• aro prosmled al the Companys Aftnu81 Militsry Dlnner lo r8c4)gni8e th8
broad range ol DefewA c4)mnwnicatws1*gnt across the whole mlitary 8errflce.
Wlnn•r8 Includ•d Sarah Goldthorp (Amiy). Hannah 8oume (Ro￿1 Ngvyl, Squodron Leader R08erve Ogn
Chorfgy IRAFI, and Chloe Hobbs ICMI Servte), aactt rKtsJnl￿d for •X￿p110ThaI achl•v•marls In tslllng the
$torle8 01 lrffr, 1fr8ding media ¢ampoKJns. and supp)rting inlernalh?nal Cfjwations. A sp•cial
eommer*dalion wènl to May RK*ard 'Rrf Cd8 RM for NB oxtawv& ctintithtt(m to mlHtsry modla and
InfO￿ation operations.
The Trust has reached endtr•meTrt requlrement of £3(Kl.(KrfJ. Th• FoLwthr U4wynen eatsgory corrtlnue8 to
prove siK¢es8fv1 In rak*lng fLnls tho Tnjst. Tho fU￿j has doutknd Sn vglue in th8 Lgst 6 ￿1$, desplte some
volallity In global mwkets.
We have continued b fund LNery Schoc48 Link and ¢4)ntrbule to Polinalkng LuKfon Together as W￿11 a5 makl
conlributiono ￿ Cty and Mayoral chwithble knrt1a1iv￿.
The Coc hos e5tsbli5he£l Ilnks vAlh cadet unlts In the Amiy and S88 Cadets, as ¥￿11 as ￿1ft￿ thè Am•d
Forc•s' Cov•nanl and whil8t th•s• ar• Company Klp￿tIes, not the Charitable T￿￿1. they serve lo und9rlin8 the
link8 with our amied forces. Th8s0 incl￿8 (y)ntsibutw¥J to Cty events cxxmiemwating R•m•mbrarK• Oay.
8tat•m•nt of Trust•M' r•SpOn￿bIll￿•#
The TnJ$toe$ are roopon￿blO proporyvd Tru¥tfjO8' TeFK¥t and the flnanclal slalomerts In accordan(x wlth
pplica￿e law and United Kb¥dom ACcountr￿ Stsndwth lu￿19d Krydom Gonfrrally Accapl•d Ac¢ounting
Practic4).
The law applicable lo charthes in Engla￿ & Vlale8 wulres the Trnsta8s to pry8 financial statements for
8ach flnanoal whkh glv8 a truè and fair view ol the stste ol 8ff8irn of tho Ch￿ty and of ts IncomlThg r&sourc88
and apF4ication of resources. Inc4uiJng Its In(xma and oxporKlture, for tho1 pgwl. In preparing these finar￿la1
8tstemerts, the Tn￿lee5 afE requwed lo:
selecl suftable accx)unt'ng policies 8r¥J then a￿Y Ihwn t￿￿$1St0nty.
absem tho method8 and prin(aF4es of th8 Charrties SORP (FRS 102):
make judgments and accounting e8timale8 that ¥e reasonatlg and pn*J8nt;
state Wheth￿ ¥)pIts￿e UK AectyJnbng Stand*ds {FRS 1021 have been foNlY￿d. subject to any material
departures disdosgd and explain8d in the financial slatemerts"
prepare the fmnci81 statements on ts g¢JrYJ eontèm basis ur4oSS it is wwpnwriale lo presume that the
Charity wlll continue in busines8.

Th• Wor8hlpful C•ny of ctynMU￿Cator8 Trust
TNsttos' Report {¢ontlnu•d)
For Yo•r End•d 30 S•ptombv 2025
Th& Trustees are resptywibb fty keep￿￿ adequate r￿d9 Ihat ar8 suTrient to shw and expLgY%
the Charitys tsan$action8 ar￿ digdose vlih reas(mble at 8ny time the knxal rA)*tsthi of th8 Charity
d anab￿ th8m lo ensure Ihat the flnwKlal stOt8rnetts c￿pIY wlth the Charltl88 Act 2011. the Charity
{Aw)unts arKI Reports) Regula11¢￿ ￿18 and the wo*hlons ol the Tw$t Deod. They are also resKm81bk for
safFguarding the os$ets ot th8 Ctwity henc8 lor l&kirvJ r￿S(Th￿ steF6 lor th• provwrtion and det￿)n of
fraud arKI other irr•guloribes.
Approv
by
ol
mbor8 d thg b)oril of TnthN on thalr behaff by:
(Chair of Tru
Data:

## **The Worshipful Company of Communicators Trust** 

## **Independent Examiner's Report** 

## **For the Year Ended 30 September 2025** 

## **Independent Examiner's Report to the Trustees of The Worshipful Company of Communicators Trust ('the Charity')** 

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 30 September 2025. 

## **Responsibilities and Basis of Report** 

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act'). 

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. 

## **Independent Examiner's Statement** 

Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. 

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. 

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 

1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or 

2. the accounts do not accord with those records; or 

3. the accounts do not comply with the applicable requirements concerning 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 concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report. 

Signed: Dated: 10 July 2026 

Richard Spofforth FCA **Kreston Reeves LLP** Accountants London 

Page 5 



Stat•rn•nt of 11nanGlal actlvlll••
For th• Yur End•d 30 Soptsmb•r 2025
Total
fund*
2025
funds
funds
2￿24
16,411
9.347
16.416
9.347
38.150
Investment
Total Incom•
25,763
24763
45,830
EXp•fid￿r• on:
Charitable advkl88
11.7Y8
Tolal •xp•ndllurn
11.T16
11.776
9.453
13.917
13.987
36.377
29,867
Net g8lns on Inv95tments
N•t mov•m•nl In lund•
34.893
66.244
R•¢onclllatlon Irf lundD:
Total fund8 brought foThvard
Net mvernent ￿ lund8
326,309
260.065
66.244
Total lund• carrl•d fonmrd
361,202
361,202
326,309
The Slaiem8nl of FinwKlal IDcaths afi g￿rI4 and l(MeS TwIB•J kn tho yw.
Tho notes pages 8 to 17 fwm partc4 finwKlal •latsnwts.
Pay6

The Wornhlpful ol CtynmurfcJtor• Tru#
Balonco Shoot
AB at 30 Soptomb•r 2025
2025
2024
Plx•d a8••t8
Inve8tsm8nts
10
343.840
309.482
309.482
Dobtor8
Cash al bank and In hand
11322
9,150
473
18.364
21.472
18,837
Currnnt Ilablllll
CredtsJrs". aThwJunts follirwJ due *4tlyn (
12
{4,110
(2.010)
Net curr•nt
IT.362
16,827
Tot*1 n•t a•s•ts
361302
326.309
Ch•rlty fvnd¥
Reth¢ted fund$
Unr•8tdct•d fund#
13
13
361.202
326,309
Total fund•
361,202
326.309
Tho fina
al
latements vmre appr￿1 and a￿l¥)￿sed for168ue by the Trugtees and slgned on Ihelr bèhaff by:
K•vln Moo
(Chair of T
Dal•:
Th8 nots8 on p
9888to17
pBrt ol fvse firwKid ¥tatement&

T￿ Wor8hlpful Comp•ny of ConMnuth•torn Tru
Nots• lo th• Flnan¢l81 Statsm•nts
For th• Y•ar End•d 30 S•pt•mbw 2025
G•n•rnl Inlormathn
The Worsh¥￿1 Cornpany ol communicat(￿ Tntsi (tho charity) is domI￿led in the United Kingdom. Tha
address of prindpal ollke 1$ Clo WLKshipful Compony of Glaziers 8nd Pakntèrs of Glass. Glaziers Hall.
IMonlagu8 cl￿e. L￿d(￿ SE1 900. Tho ¢hanty vrds estsblk5hed to fuffil the cknar1tab￿ alms of The
Worshiplul Ci)mpany of Ccrfnmunulors, aro to support caus8s that are rolgvont to communication.
The Tntst60s Iherefofe irt•nd tr) few￿r (thaith8s that supp)rt pw)plct whose abilty to cwnmunicat& or
an￿ the ￿nOfft8 of eA)mmtrriThll￿ il saverdy inyayed.
Accountlng polkl•s
2.1 Ba•kn of prnp•raek)n of flnan¢lal *l*t•m
The finanthl Stat•M￿ hove b••n wepared bn a¢Xxmd￿ wilh thè Charfti8s SORP {FRS 1021 .
Accountsng Rgwytlng by Cbwrtw: Sl8temenl of Reo>nm¢nd¢d PraGliGe applicable tri chariti•s
kygparing th¢lr acccunts kn a¢¢tyd8nc8 with Finarti81 RepO￿l￿d Slarnlord applirAqbl• In th• UK
a￿j RepublK of Irdand (FRS 102} (affKtive 1 January 20191. the Financi81 R•wtlThJ Stsndard
ar*&cable in the UK and Rewbk of IrelaThl IFRS 102) the char￿85 Act 2011.
Tho ff Mn¢ld slatem￿ts have b8èn wep8r8d to • trje fw'rf and have departgd from
the Chartties IAc¢ounts aThJ Reports) R8gubètlons 2ry)8 to th• •xt•nl requirEd to Iruo
and lalrf viow. This dèp*lure has irNolved fo10￿rIg charit￿$ SORP IFRS 1021 publlshed in
Octob8r 2019 rnther then tho A¢xoJnting arrtl Reporting by Charitl•s.' Stslement of ReGommondod
Practico offective frofft 1 Aprd 2(NJS wh￿h ho5 $inL* beM vthdrawn.
The WornlWI Company d Commurdc8th TA￿1 m•ols Iho of a b￿offt •nt*y
ur#l•r FRS 102. Aswts aThd 118blllUe5 we ￿ll$allY w4nl8od at hlstwKal cost or transaction valu8
2.2 Incom•
l kncomg Is rec•Jktse(i th• Chwty hos ertillement to lh• kKome, It 15 prd>fjbb that th•
c(mo w411 bo WKI ts ￿n￿nI of rwxl¥th can b• n￿o5￿r9d rellabty.
Incomg tax recovornblo in rela1*￿ to investmènt iKX)me is MctsJni8ed at Ilm8 the Inveslmenl
Income18 re￿I¥¥ble.
2.3 Exp•ndlturn
Expendrtur• is rwThs&d Ilwe is a Wl (* c4)hg8tion to tran8f•r ￿)noMiC benefit
tNrd party, it 18 wob8tl¢ that 4 tr￿fer of econcry ben8fits wll be requred in sgtuemont aTra
Ihe afflount of the obh'galicm can be measured rekably. Expendriure is c18Ssrf￿ by acti￿ty. The costs
of each actiwty are mado up crf lh• tctsl of dlrect costs aTrJ Bharod c4)8ts, includlng support Costs
knYo￿ad In Lmdertakkng each acfivity. Dlrect e08ts attributsble to a SI￿ activty aro ￿l￿ted dlrectty
to that activity. Shar&J c#Jsts which ￿ntr￿￿te to m￿1 one aC1fv￿ and support which are
not attnbutatle to a ￿ts￿lty OWB app(Xt￿d Ihw ad￿ry￿e6 on a basls cons18t0nt v
the uso of rosources.
Exponthlure on ch￿table acl1¥rfti￿ i& irKuff6d on dlro¢ty urKlertakiTrJ Ihe ￿lMt￿5 wfi6¢h fvrther the
Charitys oi*the$. 8$ t￿￿1 as any assodated SWKWI (rAts.
Grqnts pa￿ org cfvryed in Ihe th8 Crt8r is mado •xcept In those cases where the offgr
is c4)ndFbonal, su¢h grants rncognised 05 expgfKl*ure wtron tho c£*ThJibon8 attaching are
frjffiI￿d. Grants offered 5Ut4ect to condii*Jns which have not been met at the year end a￿ notsd as a
clxnmitment. but not acuued as 8￿￿￿re.
All expend￿re is ir¥Jusi4E of Irrec0￿ble VAT.
Page 8

Th¢ W•)T¥hlpfvl Comp•ny of COMMU￿•11>￿ Tn*t
Notes lo th• FIDancl•l Statomfrnts
For th• Year Endpd 30 S•ptomb•r 2025
AC￿￿ntIng poll¢ies (conlknu•d)
2A Intsr••t r•c•lv4bl•
Intsrest on finds hdd on dep￿tt 18 wt*n roc*v&i8 amount can be mea$urgd
mliabty by th• Charlty. th18 is r(ffiialty utM)n n￿lficati)n of thg interest paid or payabkn by th•
institution with whom the funds are depo*ted.
2.$ Inv•thnts
Flxe¢J asset investmants arg a fwm of fknanclal ￿nstrUment aThJ are Inlually recognlsed al their
tr8nsaction cost and subseqwnuy measwod at f8ir v8luo at Balance Sheet date, unless the valuè
cannot be measured rtliably kn ￿tilCh CAS8 it is rrthqsured at cost less impaimienl. Inve$lmenl oains
and losses, whether realised or unrealised, ara combOn￿l aThJ weBonted as 'GainsllLos588} on
Inve8tmen18' in th8 Stalemonl of Financial Activit￿.
Inv•8lmonts h•ld •8 Ilxad ￿88t8 arn al cosl less p￿￿10n lor Imp8trmènL
2.6 D•bl¢rn
Trade and other deblorn are reoJ3nisèd al th• 8OtUemont amount after any trade dl8eouftt offered.
Prepayments ore vakjgd 8t prepE4kJ n81 of any trade discounts ￿0.
2.7 C••h •t b•nk •)d In h•MI
Cash at bank In haTh1 indudès ¢ash arnl sh¢Jrt4erni hty3hly Ilquld invthnents with a 8hort malurty
of three month8 or la88 from Iho d818 crf ac4uisttK*) Oropeni￿ of Ihe depostt or simllar •c￿￿nt.
2.8 U4blllU•• and provl•lon•
Llabi11ti88 aro rocognlsod wth•n tr*ro k8 an oblig81h)n al the Balarts Sh¢et d&lg as 8 rg¥uk of a past
event, rt 18 probai40 that 8 tr￿Sfer of ecor+omk benefft b• r•qLrir•d In 8•ttlem8rt and the amounl
ol the seluement Can be estimated reliabty.
LkbIlIl￿ we reccgnlsed al the amount Ihat the Ch*ty antklp8te8 It Yll pgy to Jetue the debt or the
amounl it h88 recefvod a8 paymonts the wods or seNtces il musl provhl0.
ProvisK￿$ are measured at Ihe best e81knate of th8 amouniy réqulrÉd to sotU8 th? obligailon. Where
the effect of thè time v8l¥Je of monèy 1$ material. the provssion is based on the pr856nl valuo of th058
amcmjnts. dIsCount￿ at the pr&tax dscA)unt rato that rBflBGts thg rnks SFecffic to the Mablllty. Tha
unwlndng of discount is rfjco3risg(l in thg Ststoment of Flnanclal Acttvltlès as a finance cost.
Ig Flnancw In•trun
The Charfty onty has financi81 asgels arrtj than¢ial Ik8bilits$ of a kind that quallfy 89 basic financlal
instruments. Ba8ic financial wtslrnrn8nts are fftitially recognised al transacb'on value and subsequenty
measured at thelr selknenl ¥￿8 *lth thè exc8Ptk)n of bank loans vthlch are subsequenty
measured at amorusfjd Cost u&ng the effective interest melhtyy.
Pap9

Tho W¢r•hlpfvl Compwry ol Conmunl¢ators Tr￿1
Notss to th• FlnanGl•l Stat•m•rts
For th• Y••r End•d 30 S0ptsrn￿r 2025
At￿intIng pollclm {corttinu•d)
2.10 Fund accourrtlnq
0881g￿￿￿ fund8 comprise unTe6tricted fund8 that hove been set a8Kle by Trusw lor p8rUoJlar
purposes. Thg u88 of 88th des1￿9￿1 Is 801 out In the noles to the flnaThSal
siatements.
Um#trkt•d Totsl
fuThd•
fund•
2025
2023
16.416
16N18
Unrestrfdod
Jndj
2024
Total
fund8
2024
t￿natI(￿S
38.150
38,150
P40 10

Th• Wornhlplul C¢Jrnp•ny of Conrnnl¢th Tru•t
Notes to the FlnanGlal Statom•nt¥
For t￿ Y••r end•d 30 8•pt•mb•r 2025
Inv•8tm•nt InMm•
Unrestrlcl•d
lund•
2025
Tot•1
funds
202S
ome frixn listed
Invastment Income- b1￿k inlernst
9,269
78
Tot*1 2025
9.347
9,347
Unrestrlct8d
fuThY8
2024
Total
funds
2024
Incom• from118tsd Investments
Investment I￿)M0- bank Intor08t
7.556
124
7.556
124
Total 2024
7,680
AMly•l8 of grant•
Gr•nl8 lo GMts to
In•lllutlonA Indlvldu•
2025
2025
Total
hJnd8
2024
fund•
2025
Drm•lion8
988
Page 11

Tho WornhI￿1 Company of ComffAmlc•tOfS TnMI
Not•s lo th• Flnanclal Ststsm•nts
For tho Ymr End•d 30 S•plombor 2025
Summary by fvnd typ•
UnMtrl¢t•d
lund•
2026
Total
2025
Donallons
AoxwntanGy fpfj
2.1th)
2,100
Sèc¥ètafial 88r¥lrAs
Inv•strnent manag•r fo88
3.866
4,234
T*)tal 2023
11,TT8
11,771
fvr4ds
21]24
Total
2024
3,450
514
1,860
3,829
3.450
514
1,860
3.629
Office oxp8n8es
S•crniart81 $on4tO5
Inv88tmont manag•ffaes
T¢Xd 2024
9.453
9,453
Pffj8 12

Th• Wor•hlpful CompAny of C¢xnmth*ator• Tnffjt
Noto$ 10 tho Flnanclal Stst•m•nts
For the Yo•r Endod 30 SeptembDr 2025
Analy•i• of •xpendfturn ty athKI••
Grnnl
lundlng of
•utfvlll
2025
Support
¢¢￿t$
2025
Total
fund8
2025
Don¥tiorb5
Accountancy fe68
Office expenses
Socratanal sèrvixs
Inv￿tMent fftanager5 fws
2.100
588
3,866
4,234
2,100
588
3,866
4.234
Total 2025
10,788
11,776
Support
cnsls
2024
Total
nds
2024
Account8ncy lees
3,450
514
1,860
3,829
514
1,880
3,629
SècT•tsriAI serv￿$
Inve8trnent managqrs fees
Total 2024
9,453
9,453
Ind•p•nd•nt •xamln•f• r•mun•rntlon
2025
2024
Fees poyable k> the cha￿￿9 knjependgnt exanknr lor th# kndyThJgnt
•xaminalion of tho Charity5 annual accounts
Fees pay8bl8 lo the Chariti/s exmr in re8poct (t.
Other accounts￿ servicos
2,100
1,770
1,680
Tru•t•M' r•mun•ratlon •nd oxp•hs
Ourir#J the yew. no Truslees recei¥*d any rgmwwakn or bgnefits {2024- £NILI.
DurirKJ the yew ended Y) September 2025. no TTUSte8 expens85 hav8 been Ir￿rred12O24 - £NILI.
P8ge 13

Th• Wor•hlpful Comp•ny olCommunI￿ Trust
N¢>tOS to th• Flnanclal Stat•m•nt•
For th• YMr Endod 30 8•ptemk￿ 2025
10. Flx•d M••t Inv•*lm•nt•
OthDrflx•d
Inv••tm?nt• Inv•stm•nts
Totsl
Co•t or valuatlon
At 1 Octobor 2024
AdditM)ns
DIsp08ais
Revaluatlon8
309265
29.438
(27,483)
16.549
217
15,854
309.482
45,292
{27WI
18.549
At 30 S•ptemb8r 2W25
327.769
16.071
343,840
M•t bo¢* v•lu•
At 30 S•pt¢mber 2(r25
327,769
14071
At 30 September 2024
309.265
217
309,482
11. D•bl•rn
2025
2024
Du• wlthln on• y••r
Am¢JJrts by CrybV8ny of C(knmunlc8torn
Prepayrnents •¢cN•d kncom•
12,296
473
12. Cr•dltorn: Afi￿nts lalllng ikn wllhln an• >*
2025
2024
Acixuals and deferred IrK
4110
2,010
4.110
2,010
Prye 14

The Worshlpful Company of ConThinlc*orn TnJ•t
Notss to lh• Flnandal St*t•ments
For the Year End•d 30 Sapt•nkn 2025
13. 8t•t•m•nt ￿ ￿ftds
8t4t•m•nt of fwKl•- ¢urnnt ygar
B•lanc• al
8•lllnc• at 1
O¢tob•r
2024
30
GOIn￿ S•pt•rnb•r
(LoM••)
2025
Ine¢)m• Exp•ndllur•
Unr••trlct•d lund¥
D•51s￿St•d funds
Designalod FurKI8- al
12,1)60
12,060
G•n•rnl lunds
General Funds- all fvr
3143
25,763
(11,776)
20,908
349,142
T¢)tsl Unr••trl¢tsd fw
24763
111,776)
20,906
361202
Tho D6sign8ted FLWKl$ ¢Mipriso thè Friend Fund *hich. thibst being hehl as an addltion lo general
¢harilable lunds, is lo b• used particulwty lo pr¢fflote education, bost waclke and the sharing of
knowl•dg8 In th• Ilethl of P￿>1￿ rgltytlons.
St•t•m•nt of fvnd•- prlor yw
Balance at
Balance at
Galn81 September
ILosso8)
2024
2023
UflM•trld•d fvnd•
DMl9nat•d lund•
088lgnated FurK18. 8U fl￿d$
12,060
12.060
G•n•r•l fund•
G•n•ral Funds- all furKJs
248,IYJ5
45.830
(9.453)
29.867
314.249
Tolal UnrnstrIcl￿ lund•
260.065
45.830
{9,453)
29,867
326,309
Page 15

Th• Worshlplul CompAry ol CMMThml¢rtorn Tru•t
Notes to th• Flnanclal Stat•m•nts
For th• Ymr End•d 30 S•pl•mbw 2025
1& Surnmary offvnd•
Summary ot￿nd* - wrrnnt y•w
Bal•Tr￿ al
Balan￿ at 1
Octob•r
2024
G•ln•l 8•pt•mb•r
InMm• Exp•ndtuw• (LO¥￿
2025
Da8lgnatod lund•
Genefai lund•
11CrfO
314249
12.060
349.142
24763
25,703
(11,7701
361,202
8ummwy of fund¥ . Pflor y•ar
Balance at
Balance at
1 Oclober
2023
Gain&1 September
In¢om ExpwvJi￿I• {L08888)
2024
D•*nat•d fiJrK
fvrK
12.060
248.005
12,060
314,249
45,830
(9.453)
29,867
260.065
45.830
(9,453)
29.887
326,309
15. An*ly•l• af n•t M••ts b•lw••n fund•
Unv•*trt￿•d
fund•
2025
Total
fvnds
2025
Fixed asset in¥ostrnents
Current assets
Credltors dua ￿￿thIn ong
343,840
21.472
{4,110)
343,840
21,472
(4,1101
Total
361.202
361.202
Poge 16

The Wtyshlpful Company of Communlc•torn Tnxt
Note# to the Flnanclal Statsm&nts
For th• YMr End•d 30 S•pl•mb•r 2025
15. Analy¥l8 of n•1 b•lw•on fitnd• Icontlrn
Analy•l• of not a88•t• be14Ye•n fund•. prlory•v
Unrostrlctod
Jnds
2024
Total
funds
2024
Fixod asset Inve8trn8nts
Current assèts
309.482
18.837
12,010)
309,482
18,837
{2,0101
wilhin yw
Totsl
326.309
326,309
16. R•lat•d party trnnMction•
OurlNJ tl* ywr. Th• WcrtiiplLrf C¢xnpany of Ccrfnmufl￿tOrn Trust Ch8W} ontsred Into
tran8actlonG whh The Worswul C(Ynp8ny ofComrNthlorn. 8 wnpany undw common eorltrol.
As al 30 Seoombor 2025, The Worshiplul C(xnpany of Communlc8tors ¢y48d £12,296 to tm Char
{2024. £473) for t$)nall￿ on tho CharlW8 bohalf,
Two Trustèès 12024 - Two Trustegs) tho porbj totallng to £17612024 - £5.200). No
r9sti1￿10￿S aw11￿ to ¢onats"on$.
Pay 17