Regtstered Charity No: 10868
Royal Benevolent and Educational Fund for
Watennen and Lighternien of the River Thames
Trustee's report and financial statements
30 June 2024
EDMUND CAR
Chartered Accoun
ered Audttors
146 New London Road
Chelmsford
Essex
CM2 OAW

ROYAL BENEVOLENT AND EDUCATIONAL FUND FOR WATERMEN AND
UGHTERMEN OF THE RIVER THAMES
FOR THE YEAR ENDED 30 JUNE 2024
Tntstees, advisors Indpriticipal staff
Tn￿l¢¢'S report
Independent audithr's iewrt
7-10
Statement of fin2Dcial activities
li
Balance sheet
12
13
Notes to the financial gtatements
14-26

ROYAL BENEVOLENT AND EDUCATIONAL FUND FOR WATERMEN AND
LIGHTERMEN OF THE RIVER THAMES
TRUSTEES, ADVISORS AND PRINCIPAL STAFF
FOR THE YEAR ENDED 30 JUNE 2024
The Truste¢
The Court of The Compgny of Waternien Llghtern?en of the RtY¢r Thames *etlng through tbe
Almshollses alld Charitie5 Committee
TheAlmshouses and Charities ComDdttee of The Company of Watennffl and iagbtermell of Ihe
River Thames
Trusttt Members
David Wootton
Edward Gradosi¢tski
Robert MgnDing
Richard SpriDgford
Derek Mat]n
Jeremy R Randall
(President from 12 Juty 2(Y23)
(AppoiDted 2023)
(Ap￿Ill1¢d 2023)
Ordlnary members
Ntcky sn￿lIb0￿e
Richard D Tue
Rx¢bard G Turk
David Beard
Mark T¢lf¢r
Robert Crouch
Andrew Fenc￿￿re Jones
Jobn Potter
12TDbros Varnavides
(Appoint￿ 2023)
Registered address
Waterm¢n's Hall
16-18 St Mary at Hill
Re8tstered Charlty No: 1086890
Advtsors and Princip￿ staff
Princip￿ Slaff
Julie Lithgow
Ckrk to the Trustee
Bankers
HSBC
20 Fastcheap. W EC3M IED
Audltors
Investmellt Managers
Rathbon¢s. Inco4x>rnting Investec
30 G￿l￿n Street
146 New Inndon Road
Chel[[￿f0rd
EsseL CM2 OAW
EC2V 7QN

ROYAL BENEVOLEKf AND EDUCATIONAL FUND FOR WATERMEN AND
UGHTERMEN OF THE RNER THAMES
TRUSTEE'S REPORT
FOR THE YEAR ENDED 30 JUNE 2024
Governitig Docum￿¢
As from l Juty 2011 and in accordance with tbe Charity Commission scheme dated 31 Match 2011 tbe
harities of the Company of Wat¢nnen and Lightern]en- Royal Cottage Home forwaterrnen and
LIgbt￿me￿ the BenevolentFund of the Company of Wat¢rn]¢n and LIg&￿rnIen of the River Thames ar¢
known as Royal Benevolent and Educational Fund for w￿¢mIe￿ and Lightennen and together with the
Waternm's Hall Preservation Trustare jointly known a5 the Watctrncn 8ud Light¢rmen Cbatitses. The
number of the new chartty is the registration foroKrlyused for the Royal Cottage Homes for Wat¢rn)¢n
(1086890).
The assets 8nd liabiliti¢s of the Philip HeDman Foundthon (1049085) w￿¢ tra￿￿e[red into the new
clwity as from l July 2011.
The finaDcial Statements have Ettoprepared in accordance with the Accouoting and Repwtingby
Chariti￿. Statement of Recommellded Prnctice applicablc to Chariti￿ prepatiug their accounts ID
accordallce with the FIr￿￿Cial Reporting Standard applicable in the UK and Republic of Ireland (FRS
102)- (cborIti￿ SORP (FRS 102)). the FI[w￿la1 Reporting StsDdard applicable in the United Kingdom
and Reptthlic of Ireland (FRS 102). the ChaTitiesAct 2011 and UK GffleraUyAeeepted Accoullting
Trllstees
The Court of The con￿allY of Watennen and Lightern￿l of the River Thames is the Charitable Tn￿ee
of the Charity. Th¢ Company also acts &s clLaritable tntste¢ for Th¢ Poors Fund. The Court acts through
the Alrnshouses and Charities Corrtmittee. the niemE￿[S of which are listed on page l. The Court h&s
appoint¢d four nama T￿￿te¢S to act on its behalf. Th￿¢ appointm¢nts are elected atsnually. The Court
of the Company of Watern]en and Lighternxn of th¢ River Tham&s i8 comprised of Cr4ft Owming
FreeDM whohave been el￿ to the CoutL The Tn￿te¢ Members are kept itifornied of ally chanses to
clwity legislatioll and are gtven the opportUDity to undertake ally further trainin8 that they migbt wish to
do. All llew Tntstee Metnbezs are briefed as to th¢ir legal obligatiQDS under cILariry law.
Organisatioll
The Al￿￿hOuse8 and Clwitie5 Committee is ele¢tcd annually by the CourL The President and Chairnwi
of the Committee is ap¥KJinted for a thre¢-yeaT terni of office. renewable for a furtherthree years. During
the year. John Saltcr resigned as The President and ChaTrn)an of tbe Conjmittee and Davidwootton was
appointed in his 51eaiL The CoMpan￿S Clerk as Se¢retary to the Colllltiittee. The Conunittee rneets
quarterly. with on¢ annual Iv appwve the Trusiee's anllual
stsrr
The d&y-t041ay management of tbe Clwity is ddegated to Julie Lxthgow as Clak to the Trugtee. A staff
of fiv¢ people is employed by Th¢ Company of Wat¢nnen and LighternKD and they p￿VIde services to
the Charity as and when requir￿.
Additionally, four staff ar¢ ¢J￿10yed directlyby the Charity aDdprovid¢ ov￿sIght and of
the ChaTity's AIn￿boU$¢S ill H&8ty.

ROYAL BENEVOLEKfAND EDUCATIONAL FUND FOR WATERMEN AND
LIGFnERMEN OF THE RIVER THAMES
TRUSTEE'S REPORT (continued)
FOR THE YEAR ENDED 30 JUNE 2024
Objects of tbe Charity
The objects of the C1wity are:
l) the relief of t1￿ PTincxpal bellefi¢iari¢s of the Charity in need of reawn by age. ill&ealt
disability. financial ])arthhip or other disadvantage bT,
a) the PTOViSiOll of fmancial wistance"
b) the provision of advice. guidan￿ Orcounselli￿.
c) the provision. or assistan¢¢ with the cost. of accommodatio￿ includyng nursing or care
homes and any other forni of residential accom￿tion appropriats to the needs of the
beDeficiarics' and
such othercharitable meaDs as th¢ TTUStee shAII from time to time detett￿;
2) the education and traiDing of th¢pTin¢ipal and other beneficiaries of the a)arity includmg
education in ski115 a&socTated with the ￿ of inland and estiwiai waterways and in the history atyd
traditions of the Compally,
3) the provision of Almshouse accomm￿0￿ for the ptinciFMI bEnefiCiar1￿ of tbe Clwity who are
in nee<L hardship or diqtro8s.
Objectives alld actlvltles for publ1¢ benefit
Th¢ principal betteficiaries of the Charity are the Freemeu of the Conyy ofWat¢rnrn and
Lightcrm¢n and their widows. widowers. children or other dependants. The Charity provides
accommodation for needy Freemen who have r¢ached retiren￿￿t age aDd who fmd thellLselves in
reduced ¢ircumstallces by way ofbuDgalows at its site In Hastin8s. The bungalows are to a high
standatd to provide affordable accommcthiion itt pl¢asaat and safe surroundings. Properties that are
surplus to i￿n￿diate requirements are let on short-hold tenan¢ie& vknicb assist with providing the
additional fiw(ts nece&sary for the overall maintenancc and up8Tadin8 of tb¢ properties. The Chatity
provides & con]munity centre at H&stings. which the residents as well as visitOLS within the local
corn￿ty use for ￿¢1&] fijndiolls and othtt activities.
The Charity is available to wovid¢ a tKnefit to the l(Kal comtnurrity by being able to offersome
accommodation on short hold ten0￿1¢$. The Cbarity tries to beaefit ￿ many relevant people a5
tA)ssible according to its objectives and artiviti¢s.
The Cllarity assists with the training aDd edu¢ation for its appmyticts and otller interesied parties
wishingto learn the skills associatd with the use of inland and estuatial watetivays and in the history
and traditions of the Company.
The Clwity bas an obligation to preserve for the benefit of the Public WateM￿n.9 Hall (the building)
and to encourage reasonabl¢publi¢ to view its historic and arcbitecturaI features. wokn of ar¢
furniture and art¢fa¢ts and records (the coll￿tioD). Durin8 th¢ year guided hall touts were arranged for
int¢r￿te] parties as well as participating ia the OtKn HO￿ Weekend held each year.
Th¢ Trustee bas referred to the guidance contsit)ed in the Charity Commission's genernl guidallce on
public benefitwh¢n Teviewing its ain￿ and obj¢ctives and in plattning future activitia%. In particular,
the Trt￿tee will coJsid¢r how planned activities will contribut¢to the aints and objectives set.

ROYAL BENEVOLEKf AND EDUCATIONAL FUND FOR WATERMEN AND
UGHTERMEN OF THE RIVER THAMES
TRUSTEE'S REPORT (con¢lnuod)
FOR THE YEAR ENDED 30 JUNE 2024
A¢hlevem¢nts aDd Performance
Site Management
Strutt aud Park¢r have been appointcd sinc¢ Sept¢m￿r2o08 to llk2nage at Ditebb￿ and it is fully letto
commercial tetwit&
Dwing the year several of the properttes at both sites have undergone a refurbislllnent to impro
therD and to ensure that they comply with cumt legislatiots Thisprogrdtllrne is beillg contillued as alld
when aproFKrty b¢¢omu vacanL The Tn￿1¢¢$ ￿￿8￿1 pmfwional advict as to the best n)etbods to
improve the housing stock.
During the year the Tn￿ 8nd m¢n)btrs of s￿ff made re￿]1&r visits to Ilastings to meet the K8idents.
Future activit
The Trnstee intends to keep all the properties at both sites in a go(xl stste of repaiT and has during the
year upgraded the kitchens and bathroott￿ in several propertits as they bave becon]c vacant.
The Trustee intends to contitiue to facilitate training alld ¢th￿tion fortho5¢ iutrrested in a La￿ on the
Tbames 2nd &sswiated waterways. During th¢ year new apprentice5 continued to be ix)und to the
Company of Watern￿n and LightameD of the River Thames and are cligiblc lo participate in ongoing
Financial Review
The income derived frimi maintenance cbarges paidby Watermen and rents from PTivate tenatrts cov¢rJ
the wst of maintenance including a r¢s¢rve for fvture exp¢nth'tur¢. This is divided into routine annual
maintenance and an eXtraordinaryTe￿Irfull& The latter is under the management of M&G Securities as
agents for the Nationat A$s￿l￿tiOn0f Alnkn.
The CIMTits4s inveslmo)ts ar¢ T￿￿ by investment managers Rathbrn and M & G S¢curities.
The Trustee's investment ￿werS arc ¢ontsineA in Clwity Comrriwon Schemes forthe Charity and
statutes. RathErf)nes provide qu8rterlyTeport5 to the Tntstee in addition to attending at least one m#ting a
year to discuss the perft1rnw￿e ond investmentEK)licy.
Th¢ attached fjnancial stat¢nMts show the current statc of thc finan￿. which the Comtnittee considers
to b¢ sound. Th￿e statements comply with current statutory requIre￿ts. The Charity is able to meet its
financial obligatioThs. As the fiDallcial swcments show, the total fvnds for fuA)re use as at30 June 2024
were £4.653.634 (2023: £4364,144).

ROYAL BENEVOLEKf AND EDUCATIONAL FUND FOR WATERMEN AND
LIGHTERMEN OF THE RIVER THAMES
TRUSTEE'S REPORT (continugd)
FOR THE YEAR ENDED 30 JUNE 2024
The Trustee wishes to kw sufficient reserves to nllitittin the AJmshous¢s to a high standard of I￿￿)r
d provide an acceptsble level of ¢are for its resid¢nts. The Trustee is satisfied with the adequacy of the
rcscrv¢s at this tinK but 8iven the age and condits.on of the proFrti&8 at Ditchling and Hastings some
concern could arise in the fubjre. The Trustee has revi¢w¢d the amounts invested ID the Extraordinary
All￿￿nI of restsirf￿ funds held at the year4nd- £1,043,￿2 (2023: £957,881).
Anx)unt of free reserve5 available- £3.6lJ9,732 (2W23: £3.406263).
Investment policy
During the year the portfolio ad)i¢v¢d a return of (2023: 3.6/•) bGfor¢ att upwrdrevaluation of
10.40/r* (2023- 1.80/0).
The policy setby the TtU5t¢e mwi1￿ seeks to matntain the valu¢ ofthe fimd in Thl tern)s by investing
in a combination of inwm¢ and capital growth itivestm￿ts. Th¢ Tnjstee reviewed Its investment policy
ID 2012 and the guidelines given to Rathb)nesc set an objective of mainly capital growth but with a
rwoDabl¢ expectation of dividend generation. The Tnts undertooka review in 2017 and intend to
Ethiul IDYestznent Poliey
The Trustee covexs ally ethical issues when reviewing the F*rfomw)ce of its t￿0]10 witb Rathbones
and is satisfied with the ethical approacb to inwting adopted by that company.
Risk Management
The Tnstee h&8 considered the major risks faced by the Clwity 8Dd has taken approwiate action to
manage thellL This p)licy is rcview¢d r¢guIarly to identify any new risbts th¢ Charity rnay face. Thc
Ttustee implementd pro¢edw¢s d¢sigDui to Mini￿ any pot¢nlial risks should they n￿terIall

ROYAL BENEVOLENT AND EDUCATIONAL FUND FOR WATERMEN AND
LIGFrrERMEN OF THE RIVER THAMES
TRUSTEES REPORT {contlnued)
FOR THE YEAR ENDED 30 JUNE 2024
Siatemellt of Tn￿tee,8 responsibllitie5
The TrLL8tee is responsible for pr¢paring the Trust¢e's Report and the financial statements in a¢wrdanc¢
with applicable law and United Kingdom A¢¢ounting Standards (United Kingdom Generally Accepted
Accounting Practice).
The Law applicable to cEtarities in England and Wales requires the Tnts to prepare accounts for e8¢b
financial year, which give a true and fair vi¢w of the stat¢ of affair5 of the Charity and its incoming
resourc￿ and application of resources forthat period. tn the Prepatatiffj of these accounts the Tn￿tee is
rquired kn..
ert suitabl¢ a￿￿￿tingpoliCl￿ and apply these CQDSi5tently•
observe the methods and principles ofthe Clwities SORP 2019 (FRS 102):
' makeiudgements and estimates that are reasonable and pNden¢
stat¢whether applicable accounting standards have been followel subject to any matuial departsires
disclosed and explained in the fllwlcial ststements"
prepare th¢ a¢¢ounts on the going concern basis unl&ss it is inappropriate lo pr¢sum¢ that the Chariry
will Continue in operalio
The Tn￿te¢ is Twonsible for kwing accounting records that disclose with reasonable a¢¢uTacy at any
time the fllwicial position of the Charity aJ)d enable it to ensure that the financial statements comply
with the Charitles Act 2011, Chariti&s (Accounts Report%) Regulations2008 and the tn￿t d¢ed. The
TnLStee is a]so responsible for SafrgUa￿1ng the assets of the Charity and hence taking msonable st
for the prevention a￿1 detection of fraud and other irregulatities.
Approved by the Trustee and signed on its bel￿f by.
thgojv
e Clerk to th¢T￿￿tee

ROYAL BENEVOLENT AND EDUCATIONAL FUND FOR WATERMEN AND
LIGFrrERMEN OF THE RIVER THAMES
INDEpENDE￿r AUDrroR'S REPORT TO THE TRUSTEE OF ROYAL BENEVOLEKf AND EDUCATIONAL
FUND FOR WATERMEN AND UGHTERMEN OF THE RIVER THAPAES
FOR THE YEAR ENDED 30 JUNE 2024
Opllllon
We have audited the financial statemfflts of the Roy81 Benevolent and E(tiJca¢ioDai Fund for WaternKn
and Li8ht¢rni¢n of tbe River ThallKs (the'cTrwity') for the year ¢Jded 30 June 2024 which comprise the
Stat¢m¢nt of FiDancial Activities. the Balance Shee( the Statement ofc&sh Flow and notes to the
financial statments. includiJg significant accountingpolicies. Th¢ f￿anCIal reporting frdmmrk that
h&8 be￿ applied ill their prepardtion is applic8bl¢ law and United Kingdom Accounting Standards.
including Finatlcial Reportlng StkndaTd 102 The Financial Rewiing Stawlard applicable in the UK and
Republic of Ir¢Iattd (United KiDgdom GenerallyAc¢epted Aeeouttting practi￿).
Tn our opinion the financial statements:
give a tn￿ and fair view of the stste of the cbarity'8 affairs as at 30 June 2024. and of its incoming
resources and applieation of resources. ]￿ludIng its illcoll￿ and exwdituré forthe year then ende(L'
have beets prowty prepared in accordance with UnitrA Kingdom Generalty Accepknj Accowiting
have been prepared in accordance with the r4u1rem￿ts of the Charities Act 2011.
Basis for opini(
We conducted our audit in accordance with Internation￿ Standards on Auditing IUK) (ISAS (UK)) and
applicable law. Our responsibilities under those slattd￿ are finther descrJl)ed in the Auditofs
responsibilities for the audit of th¢ finanriaI statenwits section of our report. W¢ are independent of the
charity in accordance with the ethical requirements that are rel¢vdllt to our audit of the f￿￿ti¢la1
statements in the UK including the FRC'S Ethical Standarf and we have fi￿filled our otherethi¢
responsibilitie5 in accordaDC¢ with these rcquir¢D)ents. W¢ believe that the audit evidence we have
obtsilled is sufficientand approwiate to provid¢ ab8sis for our opinioL
Conclusions r¢]atlng to golng concern
In auditing the fuwcial Statemell￿ we hav¢ wn¢luded that thc trustee's us¢ of th¢ going concern basis
of ac(%)uniiThg in th¢ preparation of the financial ststemeDts is appropriate.
B&8ed Oll the work we have perfornied, we have nol identifi¢d any ￿￿terIal UnCe￿tte8 rclatiDg to
ev¢nts or conditions tha( 1ndiwth￿llY or colledively, cast significant doubt on the charitys ability
to ￿ntInue as a going conc¢rn for aFriod of 41 least twelve nmmtkn from wb¢ll the fman¢Aal 5tstements
arc authoriscd for issue.
Our rwnslbillti￿ and th¢ rwonsil)ilities of the tnth WAth r¢sFct to going Concern ar¢ des¢nl)ed in
the relevant se¢tioDS of this reporL
Other ImformatioA
The other information comprises the infomjation included in the TTUStee's Report. other than the
fjnancial slatenThll5 and our auditor'5 [c￿rt thern)L The In￿1¢¢ is r¢stM)n5ible for th¢ ot￿r
Inforn￿tiOll. Our opillion on the financial statenrnts does not coverthe oth¢rinfoTmation and we do Dot

ROYAL BENEVOLENT AND EDUCATIONAL FUND FOR WATERMEN AND
UGHTERMEN OF THE RIVER THAMES
INDEPENDENT AUDITOR% REPORT TO THE TRUSTEE OF ROYAL BENEVOLENT AND EDUCATIONAL
FUND FQR WATERMEN AND LIGHTERMEN OF THE RIVER THAMES (Gontsnuedj
FOR THE YEAR ENDED 30 JUNE 2024
Our Tesp0Tr8ibility is to read the oth¢r infoTmation an¢ in doing so. Consider wheth¢rthe other
infonnation is materiaIly inconsist¢tit with the financial statements or our knowledge obtsined in the
coutse of the audit or otherwise apt*ats to bc mat￿lalIY rni&statc& If w¢ identify such material
in￿nsiStenc]eS or apparentMaterI￿ misstatetlleDts. we are r¢quired to determine whetherthis gives rise
to a material misstatenwit itL the financial statements themselves. If. bAsed on the workwe have
rfornied, we conclude thai there is a material Misstatem￿ ofthis other infonnatiOD, we arc required
to report that facL
We bave nothing to reprt in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following ￿FItterS in relation to which the ChaTities
(Accounts and Re￿rts} Regulatio￿8 2￿8 rniuir¢ us to r4Jortto you if, in our opinio
the infortnation gtven intb¢ tn￿t￿, report is ino)t)sistent in aay ntsterial res￿ with the fin9￿la]
statrnts: or
sufficientaccounting records have not been kq)L or
the fit)ancial statements are not in awtnent with the aC(y)untingre¢o￿8. or
have not receiv￿ all th¢ infonnation and explanations we require for our audiL
Responsibilltles of the tnutee
As ¢xplainedny)re fully in the tTUSt¢e's responsibilities stat¢m¢ni the trustL% is responsible for the
preparation of the financial st8lements and for being satiSfi￿that they give a true and fairview, and for
sucb int¢mal Control 8$ the tn￿ltt determine5 is nece&8ary to enable the preparntion of fmancial
stalements that are free from M￿la1 misstslctn¢nL whether due to fraud OT Crn.
In preparing the financial statetn¢nts, the trustee is TespotJsibl¢ for &wingthe clwity'8 abilityto
continue as a going Conce￿ disclosin& &8 applithlè matters rclated to going ¢on¢ern and using the
going concern basis of aecountinE unless the trt]stee either intends to liquidal¢th¢ chatity or to cease
operations, or have no realistic alternatiyebut to do so.
Alldltor's responsibllities for the audlt of the fw*n¢lal statements
W¢ have been appointed as auditor under section 145 of the Cjwities Act2011 atyj ieport in
ac¢ordance with the Act and relevantregulations made or having effect th¢reuth.
Our objecti￿S are to obtain rea￿)thI¢ assur￿ aboutvknether the financial staternents a5 a whole are
free from rnatrrial mi5StatemenL wh¢ther due to fraud or aTor. and to issue an auditor's r¢port that
includes our opinion. Re&sonable assurance is a high level of assurance. but is not a guarantee t1￿1 an
audit conducted in arcordance with ISAS (UK) will alwaJB detect a matrrial mi&stsknent when it
exists. MisstOt¢rnents can arise from fraud or ¢ffOT and arc consid¢r¢d material i£ individually or in the
aggregate. they could reasonobly b¢ expth to iDfiueDc¢ th¢ ecoDomic decisions of us¢rs taken on the
basis of th¢se fjnanciaI staterncDts.

ROYAL BENEVOLENT AND EDUCATIONAL FUND FOR WATERMEN AND
LIGHTERMEN OF THE RIVER THAMES
INDEPENDEKf AUDITOR'S REPORT TO THE TRUSTEE OF ROYAL BENEVOLEPtr AND EDUCATIONAL
FUND FOR WATERMEN AND UGHTERIIIEN OF THE RIVER THAMES (continu
FOR THE YEAR ENDED 30 JUNE 2024
Irrwlartties, Inch￿Ing frauc are iLstances of non4ompiiance with laws and regulations. We d&4ign
procedures in line with our resp)nsxbititi4 outlined a]x)ve, to"detect materxal mlsstatements in ￿spe￿
of irresularities. including frau(L The ext¢Dt to which ourprowlures are cyble of detecting
irregulatitie4 including fraud is detsiledbelow.
Our approach to tdenitfyingand ￿￿e&$Ing the riwkv ofmalenalmwlalementin r&fpecl of
irregularities. includingfraud l￿d non-complitmcewith Imvs andregm1atio￿I, asfollow$.'
Th¢ ogdg¢ment partner ensured the ¢ngagan¢ot team cOll￿tiVelY Iwd th¢ appropriat¢
cornpetence, capabilities and skills to ideDtify or re(x)gnise notrcompliallc¢ with applithl¢ laws and
regulations.
We focused on S￿IfiC ]aws and rwilatiolls which we coDsidered nmy hav¢ a dircct material eff￿t
on the fmancial statements OT the operations for the chartty, includitig the Cl]arities Act2011. tsx
legislation and data prntectio￿ antiljriby, eMployn￿ ￿viron￿￿1 and and safety
legislation.
lye assessed¢he swceplibilityofthe charity sfindneials¢alan￿ts lo Malerialmi￿1Qternent, iNcluding
obtthning an undentandingofhowfvudmight oeturby."
aking enquiries of management as to where they ￿nsIdered there w&$ suswtsl>ility to frnu¢ their
knowledge of a¢ttMI. stw¢¢t¢d and alleged fraud.
CotL8idered the internaI controls in plac¢ to miti8xts the risks of fraud and non40nw]iallce with law5
To addreJs the riykoffvMdÈhrough mapwgejnent bias and0￿rrIde ofeontrols, we..
PerfornKd anaiytieal procedures to identify any UDwual or urtexpectedrclationships
. Tested journal entries to identify unw￿1 transactions
In ruponse io ihe rifk0firregularit￿% aTh4non-complianee with laws th￿regulario￿t, we duigned
proceduray which included. bui were noi liniiied to..
Reading the mtnutes of n)¢etings of those charged wilh governance
ELquirxllg of management ￿ to actual and potential litigation and clain)s
Because of the inherent IiTuitstions of an audiL there is a risk that we will Thot detect all irr¢8ularities.
including those leadingto a matsrial misslateD￿t in the finaJcial stateM￿ts or Don￿Ompli8nce with
regulation. This risk ]r￿eaSeS the more that con)pli8nce with a law or r¢gulatiott is removed from the
events and tratLsactions retlected in the fiDan¢ial staterncnts, as we will be less likely to become aware
of instances of non<ompliance. The risk is aIso ￿[egardIng iwlaTities oCCu￿1ng due to ftaud
Tatherthan error. as fr4ud iavolvw intentional conce4knL forgery. Collusio￿ omission or

ROYAL BENEVOLENT AND EDUCATIONAL FUND FOR WATERMEN AND
LIGHTERMEN OF THE RIVER THAMES
INDEPENDENT AUDrroFrs REPORT TO THE TRusfEE OF ROYAL BENEVOLENT AND EDUCATIONAL
FUND FOR WATERMEN AND UGFrrERMEN OF THE RIVER THAMES (conllnued)
FOR THE YEAR ENDED 30 JUNE 2024
As part of an audit in accord8ncewith ISAS (UK), we exc￿1￿ professionat judgmentand maintain
professional scepticismthroughout the audiL We also:
Identify 2nd assess the riskg of Mat￿1*1 misslatement of the fitJAnciai statements, vlbether due to fixud
or etror, desisn and perforni audit proLzdures rcsFrf)nsive to thos¢ risks. and obtain audit evidence that
is sufficient and appropriate to provide a basis for our OPiDion. The risk of Dot detecting a material
misstatement resulting from frwd is higher thAll for one resulting from etror, as fr￿d may involve
Collusio￿ forgery. intentional omissions, misTeprcsentation4 or the ov¢ftid¢ of inten)al control.
Obtaitl an utLderstanding of internal control relevant to the audit in orderto d¢sign audit proG¢dures that
are appropriate in the circunk8tan￿ but not for the PUTpose of exprossing an OPiDi¢)n on th¢
effectiv¢D¢SS of tbe clwity's internal control.
Bvaluat¢ the appropTiateness of accounting policies used atMI the rrasonablene&s of accounting
estimates and related disclosures made by tbc
Conclude on the appropriateness of the t￿￿te¢s. us¢ of tbe going eon¢¢rn basis of accounting an
based on the audit evidence Obtaine￿ whether a materxal uncertainty exists related to events or
ndilions that tnay cast significant doubi on th¢ charity's ability to continue as a going conc¢nL If we
coIKlud¢ a n)at¢rial uDcertainty exists. we ate TequiTed to draw att¢ntion in our auditor's report to
the related disclosuTES ID th¢ fAnanciai statements or. if such disclosures are inad¢quat¢. to modify OUT
Opinio￿ Our Concl￿910￿8 are bas&J on the audit evidence obtsined up to the date of our auditor's
report. However. fvttue events or ¢onditiow may cause the chti￿ty to Cease to continue as a going
Bvaluate the overall preSentstiO￿ Struc￿ and contentof the financial statements, includin8 the
disclosures, and Htrther th¢ fmancial stater￿ts represent the underlying tranwtii)ns events in a
n)ann¢r that achieves fair presentation (ie. gives a tru¢ and fair view).
We conimuwcate with those charpj with governance reWd1￿ 2DKJng other matters, the planned scope
and timills of th¢ audit and significant audit findings, includillg any sigDificallt deficienci￿ in intern81
¢ontrol that we identify dwing ouraudiL
Use of our report
This report is made solely to the clwity's trustee, as a body, in a￿ordance with Part 4 of the Charities
(A¢wunts al￿ Rep)rts) Regulations 2008. Our audit work has beem undertaken so that we might state to
the chaTity's trust¢¢ those matters we are required to state to them in an auditor's report and for no other
pu￿￿Se. To the fullest extent Fwnjitted by Jaw. we (k) not accryt or assume r￿ponsibIlity kn anynne other
than the ¢harity and th¢ charity's tr￿stee as a LM)dy, forour audit wo& for this reEM)rL or forthe opinions
we have fornied.
Ljna Curr LLP
Ethnund CaTr LLP
Chartered A¢countsnts & Statutory AuditOZ5
146 New Lonthn Road
ChelnJsford
CI12 OAW
08110 I£oL4
io

ROYAL BENEVOLENT AND EDUCATIONAL FUND FOR WATERMEN AND
LIGHTERMEN OF THE RIVER THAMES
STATEMENT OF FINANCIAL ACTivrriES
FOR THE YEAR ENDED 30 JUNE 2024
Total
2023
Notes
fnnds
f￿ndS
2024
Income from:
Donation and legaci
Charitable activities
ber trading activitie5
Irtvestments
Fundraising activitieg
9,670
38.039
532,092
27.463
775
2.420
10,445
40.459
532,092
74.797
6.575
60,570
56,318
466245
70,218
7.947
47.334
6,575
Totsl income
14
607,264
57,104
664J68
661298
Expenditllre on:
Raising funds
Charitsble activiti
Grattts
Oth¢r tradtQ8 acttvities
4.841
155,583
4.841
495.679
2.460
397,114
1527
234.027
267.164
267.164
Total expendlture
14
607260
160.424
767.684
635,128
Net income l (expettdlthre)
{103 J20) {103316)
26.170
Gaills l Oosses) on inves1ll￿t &5sets
Realised
10,346
193.119
18.506
170,835
28.852
363954
54.993
62,844
li
1¥4et mov¢ment Rn funds
203.469
86.021
289.49%)
144.007
Fund balances brOll￿t forward
14
3,406,263
957,881
4.364.144
4.220,137
Fwid balances canled forward
14
3,609,732
1,043902
4,653.634
4,364,144
All of the Charitys activiti¢s ate wntinuin&
The notes on pag¢s 14 to 26 fornpart of these financial slatemcnts.

ROYAL BENEVOLENT AND EDUCATIONAL FUND FOR WATERMEN AND
UGHTERMEN OF THE RIVER THAMES
BALANCE SHEET
AS AT 30 JUNE 2024
Unrestrlcted Restrlcted
funds
funds
TotAI
2024
Totsl
2023
Notss
ed assets
Tangible a&%ets
List¢d itiv¢sttnents
Other investu)euts
io
li
6062
L964,845
944.806
37.578
943,328
643.868
2.￿8.173
684207
2.665.845
847.199
3515,941
980,906
4,496,847
4.197251
Current Assets
Debtors
Cash at bank and in hand
12
115.313
62264
115.313
125.260
127.098
110.120
177577
240.573
237218
Creditorj. Amounts falling due witbin
one y¢or
Net current assets
13
(83.786)
(83.786)
(70J25)
93.791
62.996
156.787
166.893
Totsl A&s¢ts ltti liAbUiti
3.609,732
1,043,902
4.653,634
4J64.144
Fund b•l¥nces
Unrestricted funds:
General fund
Designated funds
Total utsrestiicted funds
2.664.926
944.806
14 3.609.732
2,664,926
944.806
3,flJ9,732
2559,064
847.199
3.406263
Restricted funds
14
1.043.902
I.043.￿2
957.881
Total fund¥
14
3.609.732
I,U43,902
4.053,634
4J64,IH
The f]ll￿¢
statements Oll pages I I to 26 w￿¢ appmved and authori￿ for issue ty the T￿￿1¢¢ on
2024 and $i￿d on its bebalf by.
D. WOOThON
The Pzesidellt
LrrHGOW
The Clerk to tb¢ Ttuste¢
Th¢ nota8 onpagu 14 to 26 forn of financial statem￿ts.
12

ROYAL BENEVOLENT AND EDUCATIONAL FUND FOR WATERMEN AND
LIGHTERMEN OF THE RIVER THAMES
CASH FLOW STATEMEKr
FOR THE YEAR ENDED 30 JUNE 2024
Notss
2023
Cash tlows from operatlng aedvliies
Net movement in fun(Ls
289.490
144.007
AdJustm¢ntrfor.'
Revaluation of inv&stJnents
Profit on sale of invesmcnts
Depreciation
li
(363.954)
(28,852)
57,735
(62.844)
(54.993)
52,017
io
Changes in..
Trdde aDd other debtors
Ttad¢ and other crrylityrs
11.785
13,461
(104292)
(73,185)
C&8h u8ed in OPer￿10￿S
(20J35)
(99290)
Jnvesththt incorne receivable
Bonk illter¢st r￿¢1Vable
(73,342)
(1,455)
(69589)
(629)
Net cash used in opernting a¢tivitt¢s
95,132
(169.508)
Cash flows from investing a¢tivitie5
Purchase of fixed asset5
Purchase of investsnents
Proceeds from sale of investtMIts
[nV&%tm￿ income receivable
Bark interest receivable
io
li
(17.396)
(524,048)
576.919
73.342
1.455
(160.170)
(404,250)
553.144
69,589
629
Net cash from inv¢stin8 activiti
110272
58.942
Net (dttrea*yfincre￿ kn c*sh ¢gsh eqllivalents
15,140
(110.566)
Cash and L7sh 4uiva1e￿ts at beginDin8 of the year
110,120
220.686
C*sh and ¢¥sh eqlllvalents at end of the year
125260
110,120
The not&S OD pages 14 to 26 fotm part of these fin2nwl statements.
13

ROYAL BENEVOLENT AND EDUCATIONAL FUND FOR WATERMEN AND
UGHTERMEN OF THE RIVER THAMES
NOTES TO THE FINANCIAL STATEMEKrs
FOR THE YEAR ENDED 30 JUNE 2024
l) Accounthig poucles
a) Basis of a¢couDtin£
Th¢ fAn2ttciai statements have been prepared in accordance with tbe StatrnTht of Rttonmxnded
Prdctice.. AccouTLtirtg and Reporting by Charities preparing their accoullts in accordance with the
Financial R￿orting Stsndard appli¢abl¢ in the UK and R¢publi¢ of ]reland (FRS 102) and the Fitmncial
Reporting Standard llpplicable in the Unitd Kingdorn and Rwublic of Irelalld (FRS 102) and the
Chariti¢s Act 2Ql l.
nmydified to include catsin iter￿ at fair valu& The fiDan¢ial stater￿llts at¢ PT¢pared in sterling whi¢h is
b) Ass¢ssm¢nt of golng concern
The TTUStee is of the opinion that the Clwityhas suffici￿t resou￿ lo continue opernting for the next
12 months from th¢ date of signing these financial Statell￿￿.
c) Income
IAeomefn•m rut4landmqinlenan¢¢
JnconK fromrentsl and llMintenaDce is taken to th¢ statemott of fitwncial artiViti￿ as it arises.
InV￿ments
Incoll￿ from lnvesttn￿ts in¢ludes th¢ net incomingTesoU￿ of M&G Secutities alld Investec
]Dcomes from donations. Wdnts aThl legacies are accou￿ for as S(￿ as receipt is probable. alld the
amount w b¢ reliablyestimatr
d) E4)enditsre
Grants
Grallts to indivithlals are onty payable provided the individuals meet the relevant iyiteria and provided
the Chatity Iw suifi¢ient fi]nds. However. ￿ants are recognis￿ irt tbeir tota]ity as soon as these are
offered to the re¢ipifflL on the grounds that the ￿lpsents have Teasonable expectations that they will
re¢¢iv¢ the grants in fu]L Where gtants bave not been taken ￿, a￿1 the [￿lpl￿t has breach￿ th¢ tern
of the ￿ they are written back
Th¢ Trustee con5idets grant applications for futtding from the Committees of Ihe CoJJJpany of WaternKn
and LIghtern￿ for cljaritsbk adivitits and the Board of Wat¢nll¢￿ Hall IAmit¢(L
14

ROYAL BENEVOLEKf AND EDUCATIONAL FUND FOR WATERMEN AND
LIGHTERMEN OF THE RIVER THAMES
NOTES TO THE FINANCIAL sfATEMEKfs {contInu
FOR THE YEAR ENDED 30 JUNE 2024
l) Accounting po]icles (eontlnued)
Depreciation is provided on a straigbt.line basis so as to write off th¢ ￿51 of lan￿%1¢ fixed assets ov
their eXp￿ted usefjjl ecoDomic lives. The aDllu81 depreciation rdtes used for ¢¥h catergory of fixed
a&4et are as follows:
FTeLhold property
Freehold PD)Ftrty irr￿￿0ve￿￿nts
Mots)r vehicles
Fixtures and fittings
Company bar8¢
1% strai8ht4in¢
l(Ph strdight.line
21PA straight-line
2(P/o strdight-line
4Y• strlligbt-line
Other ¢xp¢nditur¢ is reco￿lls¢d OD an a¢￿￿1$ basis. Manag¢￿t costs are ¢1]arg￿ to the Charity by
The Company of Watermen and Lightern￿n of the RiverThames and administration cosLs are
recharged to thc clwities from Waiermens Hall Lin)iied These r¢present the costs of wing the
Clwity includingnwintsining its reLords.
Jrre¢overable VA T
The Clwity is not re￿￿ed forVAT so wmot recovtt the VAT on any expenditure incurred. This
irr¢coverable VAT is included in the relcwdnt costs shown in tbc StatcnKnt of FinatLcial Activitics.
e) Tan2iThle fixed a&sets
TangiTrJl¢ assets ar¢ strt￿ at ￿$t less accuDwlated depreciatio￿ Only capital expenditsre over
£l.(M)O is eapitalised" Iten￿ C[￿ting below this an￿Urtt are written off immediately.
Homsingproperties
Houing properties are 8tated at tFLeir cos4 plus the cost of capitslised imp￿0Ve￿ICnts. Donated
Properti￿ are included at a £nil valuation as a Y¢liabl¢ c8tll)Mt¢ of tb¢ir valu¢ as at thc datc of gift is not
obtainable be￿use of tbe natsw¢ of th¢ pro1￿rtIeS and theputpose to which they are ￿￿ed by the
Jmpairn¢Ht
Any ta￿￿le fixed &wts, inch￿InghOuslDg prop¢ni¢4 which are inwaire(L are vnitten down to their
stimated economic value to the ChaTity. As at the year-end no assets were impaired in V9h￿ oruse.
Investments
InYc3tll￿nts are sbown at nwk¢t valu¢. The change in invest[[￿￿ market vaill￿ during the year
ill¢lude$ gains and los￿ on inT4estll￿ts sold as well as Ullrealis¢d gains and losses in the value of
illvestrKnts held as at the y¢8r-¢nd.
15

ROYAL BENEVOLENT AND EDUCATIONAL FUND FOR WATERMEN AND
UGHTERMEN OF THE RIVER THAMES
NOTES TO THE HNANCIAL STATEMEKfs {￿ntInued1
FOR THE YEAR ENDED 30 JUNE 2024
l) Accoundng policles (tonthiued)
g) Debtors
Debtors ore r¢cognis¢d initially at tb¢ tranwtion price. A p￿￿1810n for the impairment of debtors is
stablis1￿ when there is eviden(z that the Charity will not be able to collect all anu)unts due.
h) Creditors
Cttditors 8r¢ recognised wbete th¢ Charity had a present ob]igation resultillg from a past event that will
probably result in the tratLsfcr of fjJr¥Js to a third party and tb¢ atnount due can be Measu￿ reliably.
Creditors are noTmally rwnised at their s￿l¢m￿t amouaL
i) Fund accouDtillg
Funds h¢ld by th¢ ajarity either.
Unrestrictedgeneralfthds - th¢s¢ ar¢ fi￿dS that call be uwj in a￿¢¢ with the chgritable
obj¢¢tiv¢s at the disryetion of the Tnth.
Designat¢dfun&s -these aTe fimds inclutsj witbin th¢ UDr¢stricteAI fjJnd5 8nd represent sun)s that
Set aside by the Tnthee for specific fijture Purpos￿ or projects.
Reslric¢edfvn&f - these are funds that can onty be used forparticu]ar restricted pulp0￿ wrythin the
objects of the Charity. Restriction5 arkse when speLifieJJ by th¢ donor or when are raiwj for
particular restricted pu[pos￿.
j) Financi￿ Instruments
Finallcial assets and fllwJc1￿ liabilities are Tecognis￿ wbell the Ch8Tityb¢coDw apaTty to the
¢ontractual provisions of the iDstrumenL
Financial liabilities are c]wified according to the substan¢¢ of the contractual anangemts enter¢d
into.
All financial ￿ets and liabilities are initdty Measu￿ at traDsaction PTice Gu￿￿dIng transaction
costs). ¢x¢ept for those financial &ssets clas51fi￿ as at fair value througtL profit or lob3. which arc
initially measuTrd at fair value (which is norn]alty the tratisaction price excluding trdJL%action ¢osts).
Investments in non-convathk prcf¢r¢nce ghares and non-puttable ordin8ry or prefere￿e slwTrs {vth¢rc
shares Are publiclytraded or their f&ir Wdlue is Teliablynr&4urable) are ll%asu￿ at fairvalue through
profit or loss. Where fair Val￿ ¢a￿￿t be n￿llred reliably, itivesinxnts are rneaS￿ at cost less
16

ROYAL BENEVOLENT AND EDUCATIONAL FUND FOR WATERMEN AND
LIGHTERMEN OF THE RIVER THAMES
NOTES TO THE FINMCL4L STATEMENfs (contlnued)
FOR THE YEAR ENDED 30 JUNE 2024
2) Ill￿me from dott*tlons legacies
ef ofpfftrty Tr*ini#g &
Tot
& Other
Edurdtion Presrntlon 2024
Totsl
2023
9,670
9,670
T15
10,445
10,445
60,570
60,570
775
UnrestricteAI funds
9,670
9,670
775
10.445
26,086
34,484
60.570
T75
775
9.670
3) llltome earned from o¢lw g¢tlvlths
Relkf of Poverty Tralnlng &
& Other
TotAI
2024
Total
2023
Charitable ￿tiVitieS
Provision of social bousing
Training ¢ourses
Other chatitabie activiti
35.808
35.808
36.529
445
19,3M
56,318
2,231
38.039
2,420
1420
4,651
40,459
Other trading a¢tivities
atket rentsls
532.092
532,092
532,092
532,092
466.245
466,245
Inve5tmcnt incon
Investmellt incotTre
intetest
53298
1,162
54,460
20.044
220
20264
73J42
1.455
74.797
69,589
629
70,218
73
Furtdraising
6,575
6.575
6.575
6.575
7,947
7,947
624.591
22.684
6,fv18
653.923
61￿.728
Unrestrided funds
R￿trIcted fi]nd5
S￿1.594
26.wl
624.591
597.594
56329
653.923
545,159
55,569
6IX).728
22.684
17

ROYAL BENEVOLENT AND EDUCATIONAL FUND FOR WATERMEN AND
LIGHTERMEN OF THE RIVER THAMES
NOTES TO THE FINANCIAL STATEMETrrfs (contin￿d)
FOR THE YEAR ENDED 30 JUNE 2024
4) Employee and 2dministratloD costs
Housing
Tot*1
21124
Tot41
21J23
Salaries
Social sewity Costs
Pension ¢onfTibutions
SJ40
359
61.414
4.131
1.290
66.835
66.754
4,490
50,366
3.280
335
53,981
5.811
72.646
15.633
179.785
195.418
20,544
288.608
180.436
18363
252.780
Strutt & Parker mallag¢m¢nt fees
21,444
267.164
Prioryear."
Houslng
Totsl
2023
TotAI
2022
Sknies
4.029
262
27
4J18
46.337
3.018
308
49,663
50.366
3,280
335
53,981
55,858
3245
551
59,654
Pwion contributions
Administration expenses
Strutt & Pther manag¢nKDt fees
14.435
166.(N)i
18.363
234.027
180,436
18.363
252,780
230,968
13.338
303.9(K
18.753
The Clwitylw fivc ¢nwloyees (2023: four) reprr5¢Dtin8 a fi￿1 time equivalcnt of four employees (2023:
four). No cmploycc received remunerntion of rnor¢ thon £60.OCK) duTing the year. Neither the Tn￿1£¢ nor
connected per￿>￿5 rxeived eiih¢r fe￿ or en￿lUrneDts for their services or have bad ¢xpenses reimbursed
to them in the year (2023: £Dii).
Trustee indettwty insuraa¢e &$ purcb&8ed during the year at a cost of £1,374 QtT23.. £753). the in5uraJce
covers this Charity and its associated cl)ariry. The AdmiDtstration exp¢ns¢s have been allocated on a
per¢entag¢ basis of total income from markd rentals and provision of SLKial hougx
costs from note 7.
18

ROYAL BENEVOLEKfAND EDUCATIONAL FUND FOR WATERMEN AND
LIGHTERMEN OF THE RNER THAMES
NOTES TO THE FINANCIAL STATEMENTS (¢ontinued)
FOR THE YEAR ENDED 30 JUNE 2024
5) Expendlture on tharltabk activities fllndratsi
Rem of
Poverty Trainillg &
Total
& Othtt Edua¢ion Preservadon 2024
Totxl
2023
FundrAistng
4,841
4,841
4.841
4.841
2,460
2,460
Charitable activities
Apprentices & training otTic¢rs
Apprentices & training costs
29,652
55,774
10535
29.652
55,774
10.535
29,727
34.292
10.427
Support costs:
Repairs and maintenance
Otber expenditure on PTOP
Rates
Insurance
215,816
63342
1097
33.496
215,816
63.342
156.S28
64.186
7,516
36.373
1,723
8.485
18,753
29,104
3265
1,723
957
36.761
1.723
25.914
21,444
32,621
Sundry c￿sts
HousiDg nllnag¢tnent support 4
GovemarLce costs
24,957
21.444
19,799
12.
380951
114.728
495,679
397,114
380.951
114,728
4,841
500,520
399,574
Unrestricted fun&
R&Strict￿ fun
340.096
40,855
340.096
160,424
260,948
138,626
114,728
4,841
380.951
114,728
4.841
500,520
399.574
6) Tgi*tion
The CEwity is exenipt from Corporation Tax on its income and gains to the ￿tellI that thes¢ arc 4￿lled for
charitable puw.
19

ROYAL BENEVOLENT AND EDUCATIONAL FUND FOR WATERMEN AND
LIGHTERMEN OF THE RIVER THAMES
NOTES TO THE FINANCIAL STATEMENTS (continu￿)
FOR THE YEJR ENDED 30 JUNE 2024
T) Recharges from Watennens H•ll Limited
Rollef of
Tot
& Other FAlucation Presemtiott 2•24
Total
Included in Ho￿IngManagerneAt
andServi¢e Costs
MaDagen*nt fe
67541
53,616
67,541
53,616
83,283
36.622
Includedin support Costs
Mallagement fx5
5,873
4.662
5.873
7242
3,185
&Tlaries andrelatedcayts
29,652
40,187
29,652
161.344
29,727
160.059
121.157
8) Govern￿Ce costs
Total
2024
2023
Audit fee
Jnvestment management f￿S
12,630
19.991
32,621
8298
20.806
29,104
Unre5tri¢ted
RestrACted
19,799
12,822
32.621
15,759
13,345
29.104
9) Crnnts p8y4ble
T•t*l
21J24
Tot
2023
Grants made during theyear."
Library Committee
1,527
1,527
1.527

ROYAL BENEVOLENT AND EDUCATIONAL FUND FOR WATERMEN AND
LIGFrrERMEN OF THE RIVER THAMES
NOTES TO THE FINANCIAL STATEMENTS (continugd)
FOR THEYEAR ENDED 30 JUNE2024
10} Tanglble fixed assets
Freeknld Frethld
knusiDg
PToperty Mrfor Ilttlkny COm￿nY
Ttstsl
Totsl
2023
C•st or Y41llAtlon
At l July2¢J23
394243
7.844 626.546
17396
,844) (207.$18)
43.074
6,542 12?0250
17396
{241S53)
,110,080
160.170
DispKal
12A191)
At311 Ju#e2024
394243
165.810
436.424
43,074
6.542 1.046,093
1270250
At l July2023
C*etsthes
DisExw15
94.633
3.912
50.047
7144 4232IM
16J80
33.490
Q6.L91) CIJM) P07.518)
IOJ15
586.043
57,735
(241 J53)
534.026
51017
At30 J￿e2024
98575
40,436
251.176
L2,038
402225
586,043
C*rylMg gJIIODlIt
Al 30 Jun¢21ll4
295,668
125J74
185,248
31,036
6542
643.868
684.207
At30 Jun¢ 2023
299.610
141.954
203J42
31759
6,542
684207
576.054
21

ROYAL BENEVOLENT AND EDUCATIONAL FUND FOR WATERMEN AND
LIGHTERMEN OF THE RIVER THAMES
NOTES TO THE FINANCIAL STATEIAEKfs (continued)
FOR THE YEAR ENDED 30 JUNE 2024
11) Investments
Totsl
Totsl
2024
2023
Cos¢ or v4lllation
At l Juty 2023
Additio￿8
Disposa]s at cost or brought foTward valuation
ReValu￿10ll
1665.845
524.048
(548,067)
266,347
1734.653
404250
(498,151)
25.093
At 30 June 21n4
2.W8.173
1665.845
Net book value
At 30 Jllne 2024
I￿)8,173
1665,845
At l July 2023
1665.845
1734.653
UDrestricted
Restricted
1.964.845
943 228
1.819.403
846,442
1908,173
1665.845
At the balance sheet dat4 the historical cost of th¢ inva51TtKnts w&9 £1201227 (2023: 4196,998).
OiherIn￿1m¢Nts-Eth Orthnar)knReprffrfvnd. Designale4
Total
2024
Totsl
2023
Cost or V￿ll4110￿
At l July 2n23
Revaluation
847.199
1.607
809.448
37,751
At 30 June 2024
944.806
847.199
Net book Y￿￿e
AI 30 Jun¢ 2024
9U,806
847,199
At l July2
847,199
809.448
At 30 Julle 2024: 7,967 (21r23: 7.967) aCcumul￿10ll sharts were held in th¢ A￿(￿latiOn of A1￿house8
Common InvestnTht Fund Their cost at 30 Jull¢ 2024 was £253,076 {2023: £253,076). Th¢ income
from the fund is d¢S1￿￿ted for the repairs aJJd mainte[￿llee of the Al￿$bOuse5.

ROYAL BENEVOLENT AND EDUCATIONAL FUND FOR WATERMEN AND
LIGFrrERMEN OF THE RIVER THAMES
NOTES TO THE FINANCIAL STATEMEKfs {continu•d)
FOR THE YEAR ENDED 30 JUNE 2024
12) Debtors
2024
2023
Trade debtor5
Amounts due from related parties (Note 15)
Prepayments and accrued income
Other debtors
1.012
111516
1.785
io
120234
2.839
4,015
127.098
115,313
13) Credltors: amounts f￿1￿£ due within one yeAr
2024
2023
Trade creditors
Amounts due to related parties (Not¢ 15)
TaxatioD and social security
Accruals and defetted incon
Other creditors
4.937
45.690
1301
31.858
28.712
3,901
2.131
33599
1.982
83.786
7D.325
Deferred income
2024
2023
D¢f¢rred income at l July 2023
Resources deferred iti the peri(MJ
Ajuouuts r¢l¢as¢d from previous perii)ds
8.809
16.988
(8.809)
50,141
8,809
(50.141)
Defetted itic4)tJe at 30 June 2024
16,988
8.809
The deferred incon]e ¢aryied fonyard amounts to £16,988 (2023: £8,8IW) and rclales to reLtai incorne
received in advaDce at the year en(t

ROYAL BENEVOLENT AND EDUCATIONAL FUND FOR WATERMEN AND
LIGFrrERMEN OF THE RIVER ThAMES
NOTES TO THE FINANCIAL STATEMEKfs (contthued)
FOR THE YEAR ENDED 30 JUNE 2024
14) Funds
Current ye9r:
Total
2023
Otber gains 1
IJKom¢ ExpendlMr¢ (IDsse5)
Totsl
2024
Restrieledf¥nds.'
8) TO￿ of E8stLondon
b) Dr HerLtt]all initial investment
c) Philip H¢llThll Foundation-
Other donations
d) Mrs M Holt leg
e) John Dudm Brown Trust
Q Wat￿ll￿n,5 Hall Preservation Trust
3,576
2285
30,533
643
(3.253)
(2,079)
(27.776)
2,288
1,462
19532
3254
2.079
27.781
S,4￿1
89,724
756.940
74,823
16,E38
26,997
7,423
(81.620)
(40,855)
(4.841)
57J97
108.662
81,639
851.744
77,405
Totsl r¢strl£ted funds
957,881
57.104 {160,424)
607264 (607260) 203.465 3,609.732
664,368 (767.684)
392.806 4,653,634
189Jl
1,043902
UDrestricted funds
3.406.263
Tot￿ fuknds
4.364,144
a) Tour of East LDndon-fundin8 for training for apprentic¢s ]iviJJ8 in the FAst London Boroughs.
b) The Philip Henman Foundtition founded by deed in 1961 with a gift from Dr Hentwi of shares of
the Trnnsport D¢v¢lopment Group wi)rth £IO,O(M). The Incoll￿ is used to pronKgte and cncournge post
8ch(KJl ¢ducatioD and training forpets0￿% engaged in the port transtM)rt industy.
c) The donations from th¢ Philip Henman Foundation included th¢ assets and iiabiliti¢s trallsferro1 to the
new Charity at l July 2011. Funds specifically received throughout the year for tr2iniog and education of
app￿￿tic￿ and Ot1￿ Illter￿ed in a career on th¢ River.
d) Legacy- The Late Mrs Minnie Holt left £188.000 to the Philip Henmaa Foundation for training aud
education of appretttic¢s wbi¢h was recei￿1 during the year to 30 June 2013. The funds left by the lato
Mrs Minni¢ Holt are ¢har8e41 with a pert¢nthge of th¢ Cost of training and educatiou calculated on the
splil of total iDC¢)ll* received for training and education.
e) Jobn Dudin Bmwn Tn￿-A deed of gift fromthe Iate MrJolm Dudin Browll for funding repairs and
maint¢nance of the Charity's AhL8houses.
Q Wotermi's Hall Preserv3tioD Trnst. The Th￿t formed in 20(r2 to:
- preserve for the benefit of the public Waternm's Hall at 16- 18 St Mary at HilL"
works of arL fi￿lL￿. artefacts ond (the colle¢tton)' a￿1
- adYattc¢ the education of the public in the history of tbe bu11th￿ the collection and
the River ThaTD¢S.
24

ROYAL BENEVOLENT AND EDUCATIONAL FUND FOR WATERMEN AND
LIGHTERMEN OF THE RIVER THAMES
NOTES TO THE FINANCIAL STATEMENTS {¢ontinued)
FOR THE YEAR ENOED 30 JUNE 2024
14) Fllnds (continued)
Prior yeAr:
Totsl
2022
Other g*ins 1
Ineome Esptlldttwe (knses)
Total
2023
Reslridedfunds..
a) Tour of Fx8t London
b) Dr Henrn initial investmellt
c) Philip Henn)ao Foundation-
Oth¢r donatiOZLS
d) Mrs M Hol¢ leg
e) Jolm Dudin Brown Trost
fj Watetmen's Hall Preservation TThst
4,151
1652
35.435
1565
{2,760)
(1.763)
(23.560)
620
396
5299
3.576
2,285
30,533
13J59
104.128
740.698
68.024
39254
25.616
9259
(69229)
(38.854)
{2.460)
15,571
29.480
89,724
756,940
74.823
Totwl restri¢ted funds
955,088
90.053 (138,620
571245 (496502)
661298 {635,128}
51J66
957.881
un￿tricted funds
3265.049
66,471
3,406.263
Totsl funds
4220.137
117.837 4.364,144
IS) Related party transacflon5
The reIated paTti¢s ar¢ as follows:
The Cornpany of Watun￿tt and LIghtern￿ of the River Tham
Watenllens Hall Limited
The CoMpan￿S Poors Fund
Tr ¢onnection between tbese related partie8 is that the Court of The Companyof W8ten))¢n gnd
L￿1t¢[Mell of tbe Rlvtt Than￿5 conttol th¢llL
At the year.￿d the followingbalallces woe outslandin
2023
Due (to) the Company ofwalermen and Lightetrnen
(43.816)
112,516
1.874)
(3,901)
I I2.108
8.126
Due (to) / from The CompAlly'S Poors Fund
During the year the rna￿laI tranwtioJs with thae related parties were:
2024
2023
73.414
90,525
Rowing Officer, Training Offi¢¢r 8od others
Accommodatiott Costs retharged from W￿rn￿ns Hall Limited
Sbare of the cost for the reapir on the lift at watern￿n'S Hall
29.652
58,278
66,885
29,727
39,807

ROYAL BENEVOLENT AND EDUCATIONAL FUND FOR WATERMEN AND
UGHTERMEN OF THE RIVER THAMES
NOTES TO THE FINANCL4L STATEMEKfs (continu•d)
FOR THEYEAR ENDED 30JUNE 2024
16) Mthnate controlling party
The Trustee msiders the ultimate controllxn8 p8rty to be tbe Court of The Conw of watern￿ and
Light¢rn)¢n of the River Thames.
17) Donated asset$
The land and buildingg at Ditcb]xng were donated to The Cott48e Honw, Dttcbling in 1888. Th&%e
financial statements have not disclosed the cutrent value of the wets at th¢ date th<%e were reLeived
beCa￿se a reliable &8timate 15 not available.
26