Charity r4istrntioD ttumber: 1102885 The Paviors, Company Livery Trust for Charities R￿￿rt For the Yw Faded 31 D¢tembv 2021 JCA Ac¢ouRtants IslarKI View 9b Hurst Road Milford on Se& Hampthite S041 OPY The Pavlors, Company Lfvery Trust for Charltles Contents Refettnce and Administrative Detsils Trnstees. Rwt 2to4 StatetneDt of Trnstees, Respowbiiiii Ind¢p¢ndent Exzminevi Rel St4tem¢nt of Fitiaticial Activities Balance Sheet Notes to the Fintn¢iat Ststem¢Dts 9tts13 The Pavion, Comp•My Lfvery Trnit for Charities Refer¢Dce and Adminlstratlve Detalls ThI￿e Neil Chri* Sandbry_ 4VOillttyJ 8 Mtr¢h 2016 John w￿11•￿ maY-4p￿IllknI 8 Mawh 2016 RobertKmi8- Ippintrl 27 Feknrw 2018 PrkndpAI Offl¢• ECIM &4N 1102885 Imitmellt *dvl EC2M 7AZ B*nk Pk IndqKnd¢nt Examln4r JCA A¢￿t￿tr Islmd View o Htsr8t Road Milford on S Hunp8hir¢ SO¢1 OPY The Pavlors. Company Lfvery Trnst for Charities Trustees. Report Thc Trustees present the amwal rq￿ tO8th with the fintillci￿ ststallents of the Cbarity for the year 31 De¢¢mber 2021. ObJeetfv¢s #nd actlvltiej Objects ondoiM¢s Thc Ch)Tity is controlled by its BOVaDillB • Deed of TThsL and cotutiDMes m wiincoTporated C1Jarity. The Pavior8' Liyery Tn￿t for cTrariti￿ ('the Tn￿> ¢stab]ished undera DEed of dat>1 8 April 1993. Thc objective of the Trnst is for the Ixnefit of charitthle instibjtions or cknitable pwp)8eB gen¢rnily. In 2011. under a Scheme of Arrawent approved by the c￿￿rIty ComTnission¢rs. th¢ TTUSI received £188.558 from the Chair of Hi8hway ￿since￿Illg Eth1¢atiOts￿ Trust and £30.111 from The Charity Fund of the W¢xshipfvl Company of Paviors. In accordance with th¢ Schcll￿ of AthnuJistrati"iJn the TnLSte¢s 8re m￿ntat.￿illg the &wts transfe￿ed from forni¢r RH Clarkc Mcmorial Award Foundation 09 a p¢mw)ettt eDdowmeDt. Tr income ￿l$ill8 from these assets is treated AS restricted funds and will be opplied exclusively to the Laing Award SIK*uld this award not be granted in Lny year then the income ari$in8 will be ￿InveSted for thc benefit of the L4in8 Award. The Tn￿te￿ b8ve undettsken the or18iti￿ ititetttions of those ¢han"ue4 namely, ro Fyovide for the eth￿￿1￿ll gnd bm¢fii of persons following or desir¢Ju5 of followin8. the profession of Highway Engineerin8 the annual award. known as the Lthing to enable the recipient to travel outside th¢ Unit¢d KinBdom for the pu4Jo of ex¢¢nding their knowled8e of Civil Engitieertn8 0rcortstr￿tion Manhganent studiea. Publ1¢ b¢neJli The Trusteu h•Y¢ con8id¢ttd the Charity CommisMOn￿ grwal ￿lld•￿e on public benefii wheo reviewing the Charit￿6 aim$ and objectives and in dertTminin8 its grant makin8 wJli¢y. The Tn￿te¢S consider that Ill of the irns Bnd objrthive8 dethiled in thi8 rep)rt are there ID order to beneflt the public and that they have complied with the duty in section 17 of the Chtrities Act 2011 to hv¢ thie r¢wd to publi¢ BuidAnee published by thé Charity Commi￿10n. GrnNi m4klft8polld The Tn￿eS have developed lottK $tattdin8 re]ationthips with v￿lOuS ch￿11•b]e institutions. focusing in particular with tho* active in the areu of the Corporation of IAJndon and th¢ ¢onsmKiion it)dustry. The Tru5tccs do not actively seek applications for grants. and instead with inslitutions by Providin8 them with fundin8 to SUP[￿ their a¢tivitses. Gen¢r41 Bronts art m*Je to bodies ¢Jn g r￿U￿]D8 b8Si4 althou8lL without ommitment. Certain eth￿n{snaI 8r8nts are awuded to posiyaduate depar￿ts at the Universitiu of Achleveme*ts Ind perf0m￿tt The prin¢ip&l source of income of the is derivrAI from investmenrs. donations from Paviors and fimdraisitt8 aetivitiei. The Trust undertook its re8ular Outlined in this reporL Flnanclal revlew Polley It is the policy of the Tn￿tets to nwiage th¢ investroentg and uttli8e the incA)n* to tho maknti8 policies of the TnuL The Tnk8tee8 1￿c ut)dthTrken ty review this poli¢y dwiti8 the ¢urr¢a( year. The PavAor8' Company Llvery Trust for Chartdei Trntees, Report Worshipful CompBny 0f￿vior& In genu*l th¢ Tnth f•vour thTtt di￿]nO ard of public benefii as folloM: p¢opl4 ¢) Her Majesty'8 An￿4 Foffes. thmu8b with the 29th Squtho RAF. HMS AY8yIL and the illcess of Wales Royd Rewn*nt 31 IMVej￿#NIp￿I1cY qndobJ¢ Th¢ Tnwt¢e8 appointed RathLh)7xe Inv¢sttntht Limityl a8 thelr iDV¢8tm¢nt advi8er• aud have adopted an investmeni p)licy u rccommended by whKh 1$ medium Tith with a tsryet asset alloclltkon of 31Y/• UK cl￿tti¢l. 47% Ov¢ne&4 elwiti￿ 17% fiwl incx*ne 8nd 6% ￿t￿tI¥m aTbJ The ThMtets •pply doDatioN ree¢iv•J *v4ilable to •P￿d or u e*ltsl ts) b¢ invest*l w thoir diBcretioffj taking irtto Account the Poliey. <]¢n¢ral donation$ were the foilowlnl ¢barfi•ble IT￿ oth¢rryIMts￿. 2021 Construthion Industy Youth Tnxt Arkwright Scholor6h 500 1,700 HMS Argyll W¢lfaYe Fund 3rd Battgliott Trinceu of W41e4 Rwm¢nt Royal Britith L¢8k)ti RAF Conin88by AFB Soldi¢Tr Clwiry 00 1500 190 (luildhail School ofMwi¢ Ind DrAmA 1,000 LoTd Mayor'i App¢al Lkapers Company Sheriffs, & R￿order'S Fu￿1 2,4511 5J(10 PA8e 3 The Pavlors, Company Lfvery Trust for Charities Trnstees, Report Pl•n8 (or futllre perlods gndkey obiediveslorfvmrepffiods The Th￿te¢S to continue providing 8rants wotknng with dwitsbl¢ iwt1iutio￿ as ill th¢ recent pasL They will continue to ￿e&4 the exis¢it)g relationships to enswe thry are ¢ffectiv¢ly deltvering the progr4mm¢ of the TrusL and will clller inlo uew ar[aDgem￿tr if #pproprith. Strnetllr4 Ktyv¢rJwice and The TnL5t is governed by & body of fiye Tru*tts by the Court of knistants of the Wotshipfvl Company of Paviors {"the Paviors.). The may co*t addillot￿t Tn￿￿¢$. subject to the approval of the Court of knTStant8. Th¢ Tnwttt8 are responsible for seltin8 the strategic direction of the Truses activiti¢ in¢luding the considerdtion of gtant rnakin& inY¢stmeni reserves and risk mw8￿¢llt policies. The Trust enga8e8 th¢ 5¢rvices of an Administrator, the Clerk ty th¢ wo￿hlpfllI Conwny of Pavior& who is responsible for the day to day a¢tivities of the TrusL Th¢ Truste￿ tn¢ct 41 least twice a year. The Tru8t#s ar¢ app)in¢ed for a wiod of 3 y¢m* or wv¢ whi]8t they hold parti¢ul8r offitt in the Wotslu'pfijl Comp8Dy of Paviors. Newly ¥PPOiDted Trustees are provided with tb¢ history, ObJ￿￿V￿ and procethwu of the Tn￿. A new Trus￿ also T￿elVeS a copy of the p￿VIouS ye*s Report and Accounts. gDd T¢f¢Trd to the Charity COMMI￿10￿￿ leaflet The EJ8¢nti4i Truste¢" The Truste¢s bave a duty to ￿entIfy and review risk to which the Charity 1$ exp￿￿1 aDd to ¢Dsure approp1& controls are it) place to provide re&soDAbl¢ ¥surwK¢ agains¢ fraud aDd ermr. Thc Tr￿ annuAlly ¢onsid¢r th¢ D￿JOr risk$ io wbieb the Trust u expo1￿ ond h8v¢ mi¢w¢d those risks aThJ estsblish¢d sys*t)Js and pr￿auTts to TDana8e them. To dat¢ the TrusteeB have detrmiined that these rnainly r¢lat¢ ¢0 inv¢$thkni llWDa8emenL aThl believe that thtse have been mitigated by the wointh*nt of pmfeBsiong1 investment managers and th¢ policy of a balatte￿ al￿ divetsified pJrt(olio. The 8nnual report appmved by the ofthe Charity on and 8i8n¢d on its behalf Neil Christ(obtt Sathd￿ry Trustre Rod¢rick Hugh Al¢xwthr MacDougald Trust+X Joh TTUSt¢¢ iam May The Pavlon, Company Lfvery Trust for Ch4ritie$ Statement of Trusttts. Respoulbllitfi applKabie law regulati which give a true al￿ fair view of the state of affatrs of the Lljarity and of the nwoming re80urceg and r•wired to: I￿t suitable aceountin8policia then thern ￿l*￿tIy• dildosed and exp]ained in the fin￿¢1￿ stataneuK' and Charity will continue in busin any ¢ime th¢ financi&l po8iti¢)n ofthe ChATity and ¢nllble them th•1 the financia] st•t¢ments ¢omply with the Chariti¢s Act 2011, the wlicable Ch￿1¢9 (Accounts and Re￿￿8) Regulations. the provi8ioN of the co￿tim110th. The TTuthu XTe algo re8pon8ibl¢ for MfeBuaTdin8 the u8et8 of th¢ C1wity h¢n¢e for ard * on ity beh Tn￿tee Roderick Hu8h Alexknder MacDoug John William M•y Tm#ce Independent Examiner's Report The A¢¢ouDts (Accru21s Accounts) Report to the thjgtees of Th¢ P4viLYS' Comp#ny Livuy TnL%t for Charities cI￿lty Number.. 1102885 On aecounts for the year ethd 31 Dec¢rnbff 2021 Set out on ￿ge$ 7t013 Rejpectlve reSpon￿bIlItIeS or trustees and eiamlner The Charity's InL￿e¢s we wible for the prepat8tson of the acwuttts. The charity's trust¢¢J considerthat an 18 not r4uJred for this year (under Section 144(21 of the Chariiies Act 2011 (the 2011 Act) thai on itidepenthut examination is ne¢d¢d. It is zny re4￿1￿lI1ty to ¢xthJirte the accounts under sKtion 145 of the 2011 AeL io follow the procedur￿ laid in the 8etierni Directions given by the CbArity Commission UTth sKtion 145{5)(b) of the 2011 ACL and to Slatz whether particularmatters bave to my a￿￿tiOn. Bail• of Independent examlner'i gtattmeut My ¢xamiMtion was wried out in ￿Ordance witb 8¢n¢r81 Direction$ given by the Charity Commission. Att txainination includcs a r¢vi¢w of the accounting record5 kept by the charity and a compgrison of the accounts pffsented with tha￿ rwds. It also includes Consideration of ally unusual items or disclosuT¢B in the ￿etsUn￿ and seekin8 explanations from the trustees conccmin8 any such matt¢rs. The proccdur¢B uThJerrakett do provide all th¢ ¢vidcnce that would be required in an auth"L knd consequendy no opinion is given u to whether the accounts pre9ent •'true and fw'r view, and th¢ report is limited to m•tter8 o¢t out in the statemeni b¢low. IndependeDt •x*mlner'# ItAtem¢n¢ which 8iw me r¢uon4ble etr to bdieve in #ny mot¢riAI YV4u1r￿Cll￿'. r¢Bp¢c¢ the to ke¢p a¢countitig records in accordwtt with section 130 of the 2011 Act., and to prep•r¢ accounts which accord with the at¢ountin8 rttords and comply with the applidile requir¢m¢nts ¢oncernin8 the fom and wit¢nt of ￿COUnts set out in the aLaritie$ (Accounts #nd Repoffs) Re8uiations 2008 other than Bny requirtment that the a¢¢ounts giv¢ a 'trne and faiT' view whieh li not a m8tter coDsiderol 86 pan of an independent exiinination, hav¢ noi been mrf,. OT (21 tr) which, in my opiffji￿ ¥ttetition •I￿Uld b¢ drnwn iti ord¢r to enable a proper 8 of the accixmts to be reached. SiBned Name Relev8nt pwfessional qualification or bL￿Y AAT AddttJ$ l$land View 9b Hurst Ro Milford on Sea Hampshwe S041 OPY The Pavlornl CompTr4y lavery Tr•¥t for Qsrltkn For th¢ Y¢Ar EAdtd 31 Detember 2021 N* Ch•rltoble ￿vIlle$ Invukn¢nt in¢ 3907J io 27 17 741 All ofthe ￿•￿￿¥*¥1￿￿dth¥e frthn (l¥￿WIn9 th¢ thve P￿L￿al. The hTior•' Compmy Livery Trut for ChArttl¢B (Rwrntloi a•mber. Iiin885) Balance Sheet ￿ At 31 December 2021 Investmfflty 917a97 841 J53 680 iojo 107,414 144 85,898 78 1025 741 •f the Ck•r#T. 27.917 27,917 9WI 124 900 014 io and li￿41 on t1￿ bebalf by. Neil Chri* S￿mIL￿ry 14 The P4vlon' Company Livery Tru8t for Charftles Notes to the ￿￿cial Statements For tbe Year Ended 31 D￿nber 2021 l poll¢k¥ Statement of R¢¢ommendty4 Practi¢c applicable to ¢haTitiU prepgrin8 their Bccounts in aceordgnce wlth the Financial Reportin8 Stand&rd 4pplie4bl¢ in the UK WKI Republic of Jrelknd (FRS 102) (effective l Janu 2015) - (Charitie8 SORP {FRS 1021). the Finwinl RtyoTtinB Stsrmlrd wlicabk in UK And R¢ptsbli¢ of (FRS 102) atyj the Cbriiie8 Ad 2011. Baits of prepar*tion The P&viorJ' Company Llvery Thwt for CtAriiie5 meets the definition of a public b¢n¢frt entity ￿￿er FRS 102. knets and li4biliiiu I￿ initially rwniw] at h1#OTi￿ L7JSt or trknlth Vah￿ ullleJ8 Oth*￿¢ itatql in th¢ ¢ a¢rouotioB policy IM)￿. Gojni c•netttt Ineom¢ endmnents Expendlthre Thue colts includt ¢08ts r¢l¥ted to the mmizw¢ioTr ¢3Thnts donadom ue ￿cO￿ted for ￿ a payable buil. ShaTra coty gre Ipprtx￿d to activiliu in fjxthrn¢e of the objects of the Trults, Fvnd R¢5tric*d fuThls can ¢)nly be used for pffileul#T restrictedpurpow within the obir%ts of th¢ CIMrity. R¢8tri¢titsD8 ari•¢ wb¢D sp¢Gificd by the th)noror wheJ fundB are Aised for pArtscufarrUtrict￿ purp)￿. li ch4r8ed to T¢wuM 0Xp￿d Inve8tmethts Quot¢d investm¢nts art Yah￿ at value *¥ at the bfy]•Dce sh¢et ard •nyutrellli*d 84inJ or IoM¢J ¢ ghowtt in the Statement of FiDwKial A¢tivitiN. Taxatl•4 The Ch*ity is ¢x¢mpt from on its Charitsble ¥tivitie& Vlllue Added T Value Added Tax ts no¢ Teeovernble by Chw IAMI IA inchthd in the releV￿te0 in the of Financi9] A¢¢ivitiu. The Paviors, Company Livery Trnst for Chxrities Notes to the FiDanCI￿ Statements For the Year Ended 31 December 2021 Ftsed *uet knveitmeTrts Fixed awl investments. other than progr4nll￿ relthl investsn￿￿ aTe inchthl at market value at th¢ bolance sheet dak. Reali5ed gains and lossts on investments are calculated as the difference between sale8 proceeds and their math valu¢ at the start of the year, or their 5ub5equqLt co& alld are cbtrged or crryjited to the Staternent of Fin8￿la1 A¢tivities in the p¢Tiod of th"sposal. Unrealiaed piDs ODd Ios8es reF*esent th¢ movenleot ill ttwrket durin8 the yt4r ar¢ ctedited or charg¢d ty the Statement of Fin9n¢￿1 A¢tiviiie8 bAsed ¢>n the market value at the yur end. 2 ltstome from d•natloM #ttd Iq*d UDrestrtcted To¢AI 2021 Tot 2020 C¢#¢r*l Don￿lon8 J Invejtment Ineome Unrejtrkted fuTrth Re8trkted Total 2021 TotAI 2020 General Dividenth & intwN¢ Teceived 15.881 Page 10 The Pavion. Company Lfvery Thirt for Ch2rltle NoteB to the Flnantial Statements For the Year Ended 31 December 2021 Tot 2021 Totsl 202(1 74.024 74.024 78,017 Totsl 2021 Totsl 2Q2• 216 216 Totsl 2021 Totsl 20211 AdmanIstra￿oft fec4 Ind¢p¢ndont ¢xm]iMr'i fet 2.7 12(Kl 140 1,20) 147 The Paviors, Company LSvery Trnt for Cb4rities Notes to the Fwancial Ststements For the Y¢8r Ended 31 December 2021 Lls¢ed tnv¢th¢nts Tt)Ixl Coit or V*lugtioD Ai l Jattu8ry 2021 Revaluation Additions Disposa]s 841,353 841 J53 82.562 82,562 78.313 78,313 At 31 D¢¢ember 2021 917397 917 97 Net botsk Al 31 DeceuLbcr 2021 917397 917 397 At 31 Decembtt 2020 841353 841353 8 Stoek 2021 2•20 Stocks of Mk#er'$ Medals 680 9 Dobton 2021 2•20 Pryid events 10 Funth Bailnee It 31 Balanee It I Intomln¥ IDVtttmellt Resourcu Dttember Jinwry 2021 re￿￿rea revAiu4thill expended 2021 Unrethleted tsndi General 1.014 99,482 82J62 (84234) 997.824 Rutrlcted funds TotAI 927931 1025 741 Page 12 The Paviors, Comp4ny Livery Trnst for Charities Notes to the F￿ancIal Statements For the Year Ended 31 December 2021 11 ADalysls of net #Mets bdwttn UnMtrlct¢d General fuAd8 Fixed as8d inY¢stsnents 917,397 917,397 110 144 110 144 Tots] net assets 1027 541 1027 541 12 AD•lyJts of net At31 D¢ttmber 2021 J*nuary 2021 Cmh flow Cash at bgnk At R4th1K*ne4 8S,898 21216 107.114 85.898 21216 107.114 Page 13