Charity registratioD number: 1102885 The Paviors, Charity Report For the Yur Eded 31 Deeember 2024 JCA Aceountsnts 12 Brnmble Rise Cobham SEtrrry KTI 12HP
The Paviors, Charity Contents Reference and AdministrdtÈve Detsils Tr*1¢¢$, Report 2to4 Statement of TnL8tees' Respotisibilities Independent Examinefs Report Sthtrment of Financial Activiites Balance She Notes to the FinaJch?I Statements 9t013
The Paviorj, Charity Reference aDd Administrative Details Trustees Roderick Hugh AlexaDder M&tk)ugatd- Chair of Trustee$ Sir Andrew William M¢A]pine - 41]nted truste and ex offi¢io trlee Robert Alfr¢d Kremis-app>inted trustee and ex officio tystee John Willi8rn May- ex officio M¢lanie Caroline Alexandra HaTnptOD MBE- ex officio ctarl¢s William David Laing- ¢x officio Carl Alexander Malmaeus (appinted 914r24)- ex officio Principal Offiee Paviors. House Chart¢Thou5e Charterhouse Square London ECIM6AN Charity Registratlott Number 1102885 Investment adviier Rathbone InvestsDent M•)agemeni Limited 30 Gresham Stre IA)ndon EC2V 7QN Bankers Barclays Bank Pk M¢tro B&)k PIC Independent ExgmlnÈr JCA Aceounr 12 Bramble Rise Cobharn KTI12HP Page I
The Pgvior8' Charity Trn5tees' Report The TnL8t¢es preseni the annua] report togethcr with the financiat ststem¢nts of the Charity for the year ended 31 Decernber 2024. Objertives 4nd ¥Jetivities Objects The Charity is controlled by its governing a Deed of TrusL and coDstittrtes an unincowirdted Charity. The Pavior5' Livery TTUSt for Chariiie5 (Ihe Trust? w& e#ablished under a DeeA of Tn& ded 8 Aprrl 1993 and subsequently cbanged its nam< as Wdried by deed of tr4 to The Paviors. Charity on 3 March 2022. The objecuve of the Tn is for the befit of charitable in#itutions or tharitable wrposes 8¢n¢Tally. The trpjstees maintain th¢ assets transferred from th¢ foTrner RH Clarke Memorial Award Foundation as a pennanent endowmellt within th¢ main fimd of the TnL%L The incorn¢ arising from these assets is treated a8 restricted and is ittiended to be applied exclusively to the LAtng Award. Should this award Th(x be grdnted in any year then the income artsing will be reinvested for the E¢nefai of the Laing Award. Th¢ trnstees have agreed to subscribe to the original intentions of those charitsble fitnds Darnely. to provide (or th¢ education and benefit of persons following or wishing to follow the profession of htghway engineertng and the annual award will assist the recipient to trdvel Outside the United KiTrgdotn foT the ptsrposes of eendIng their knowledge of Civil Engineering. Pubue benejll The Trustees ha Considered the Charity Commission's general guidance on public ner11 wben reviewing the chwity's aims altd objectives and in detrrniining its 8fdnt making kx)licy. The Tntst¢¢5 consider all of the aim5 and objectives detailed in this report are there in order to benefii the public and th they have ¢omplied with the duty in se¢tion 17 of the Cbartties Act 2011 th have due regd to public guidance published by the CFwiry Cornrnission. Grt7nl The trustees have develo1 long Stsnding reltitionshtps with various charitable institutions, f¢Kusill8 in particular on thos¢ active in the areas of the Cotporation of the City of London and the construction industry. The ttvstees do not activety seek applilonS for grn and work instead with inst[lI0S by providing them with filnding to suptx)rt thetr a¢tiYitie5. Generdl grants ar¢ made to IxKlies on a rU18 basis. althougb without commilmenL Aehievements 8Trd performAct The principal source of incorne of the TnESt is derived from inv¢Sents, donations from Pavkors and fundraising aciivities. The Trust undertook its regular activiti¢s as outlined in this r¢porL Finanti*l review Pollcy r¢T¢S The endowment is the charity's reserve. It is the intention of the truste¢s distribuie any funds raised during the year frotn members. 500/• of the endowtnent fund income will be r¢inYe5ted in the reserve fund. Any unrestricted donations io The Paviors. Charity will be itivest¢d in the reserve fuD& These poli¢ies will be reviewed on an annual basis. Pag¢ 2
The PAviors' Charity Trustees, Report Th¢ policics of the charity are discussed and ggeSted to th¢ Trustees by the Charity Committee of the Worshipful Company of Pavior5. In general ienns, the TnJ&ee5 usually favour four distinc( and separate area of public ben¢fiL as follows.. al The provision of apprenticeship qualifications and education in the nstrUCtIon industy for young bl The Corwration of London, the Lord Mayor's Aml. and other clwities lssociatrd with the City of c} Hi5 Majcsty's Arn]ed For¢e& through atTIlTaons with the 29th Squthn RAF. HMS Argyll. the Princess of Wales Royal Regiment 3 Battalio and-DTXG": an(t' dl Any other objwts of a charitsble nature of to the members of the Worthipful Company of Paviors. Invahnenipoty Andobiethes Th¢ endowment (trjvesttnents Fteld ai Rathbones) T$ the Charity's reserve. It is our intention to grant any money raised during the year from member5 whilst of the endowment fid rncome (from divid¢nds) will be reinveed {tn th¢ endowment fund). This policy will be reviewed on an annual basis. Any legacies left to the Paviors Charity which do noi stste whether the money should be dispersed or invested will be invested in the endowment nd.. GeneTal donations were made to the following ¢haritabk alld other (wnil08'. EducAtion•l 2024 Constrnction Youth Tnjst London Con5trllciion A¢Jemy Institute of Asphalt Award Mansion House- Scholarship Sch¢me Guildhall School of Mu5ic- Scholarship Indenn]Ted stUdts Smatlp¢ice Trwq- Arkwn"ght scho]a1pS 10,0 57J63 500 500 500 742 Milit2 Soldiers SAIL Aviaior awards (29 Squthn) 29 Squadron IL4F Coningsby AFB Soldi¢rs Chariry- Big Cuny Lunch 3 PWRR Diving alld Thre ExplOi10n Group (Royal Navy) Kingston & Distria Sea Cadets 77.475 1.000 335 3,653 1.000 154 122 loo 6J64 of thd0 Lord Mayor's Apptsl Sheriffs, & Recorder's Fund United Guild Service Garden of Remembrdnce City of London Prize Giving Livery Schools Link T1] and Etr( 2.000 1.000 200 200 70 125 250 Other Treloar Trust Helping Hens Movemttr i.(M)O loo TO donations made 88,844 Page 3
The Paviors, Charity Trustees. Report Plans for future periods AIMI Imdkey obJecllvesforfAfyrepenods The TDJs1¢¢5 iniend to coniinue provtdtng grants and WOEkiDg with tharitsbl¢ instibAions as in the recent past. They will contiEJU¢ to assess the existiDg relaiionships W eDSUTe that they arc effectively delivering the programme of the Trust. and will enier into new arrangements if appropriate. Strn¢tur4 govern*nfe and managemeffjt Or¥&nisallon4Tlslrnetsre The Tnjst ¢omprises of six trLSte&%.. there ar¢ thrtt apwjinted mwee5 one of whom is ¢urrently Chair of Truste¢s. along with the Mas, Upper Warden. Renter Warden and Chair of the Charity Committee who are all ex officio. The detsijs of the trustees can be found on page one. For the rules surrijunding the function of the Trnstees the Tru Deed should be ¢on5ulted. The Tnjst ellgag¢s the services of an administrdtor, the Clerk to tbe Worship1 Company of PavioT& who is responsible for the day to day activitie5 of the Tru. The Tntstees meet at IwÉ twice a ycar. The Trustees are app)inied for a peri(Kl of 3 year5 ,neWable for a SOnd temi,. or s¢rYe whilst they hold particular office in the Worshipful Company of Pavior5. Newly app)inied Trustees are provi(kd with the history, objective5 and prwedures of the Trust. A new Trustee als receivcs a copy of the previous yeafs R¢wbn aDd Accoun and referred to the Charity C4)mmissiot)'s l¢aflet "The Essential Trustee". The Tn have a duty to identify and review risk to which the Charity is extM)s¢d and ensure appropriate controls are iti Pla to wovide re&wnabk urance against fraud and error. The Trust¢¢s anxually cOld the major risks to which the T is exposed and bave reviewed those risks and established systems and procedures to manage them. To dat¢ the Trustees have d¢t¢miined that these mainly relate io investment managemen( and believe that these have been mitigated by the aptKJinÉment of professional irtv¢stmeni managers and the policy of maintainlljg a balanced and diversified wrtfolio. The annual report was approved by the Trustees of the Charity on 29.09.2025 and signed on tts behalf Roderick Hugh Alexander M¥Dougald Chair of Tntstees PaBe4
The Paviors, Charity Slalemeot of Trustees, Responsibilities The TTUStees are r¢5ponsible for FYepariDg the Tru5tees' rrwjrt and the financial #atements accordance with the United Kingdom AccouniiDg Stslldar¢l% (United Kingdom Gen¢rally Accepted Accounting Practice) and applicable law and regulations. The law applicable charities Jyquires the Trustees to prepare financial statements for each financial yettr which give a tnle and fair view of the state of affairs of the Charity and of the incoming resoyrces and applicaiion of resourtts of the Charity for that Fwiod. ltt preparing these financial statements, the Tntres are required to: seled suitsble ac¢ouDting wlicie5 and then apply thern consist¢ntty" obs¢rye the methods a1 prillciples in the Charities SORP. make judgements and ¢stimates that are re&sonable and wud¢nt' state whether appli¢able accouniing Standa have been followe4 subject to any material departures dilosed and explained in the financial sthtements. and prepare the fancial statements on th¢ going ¢oncern basis unless it is inappropriate to presurne that the Charity will continue in business. The Trustees are resw>nsible for keeping prow accounting records that disclose with reasonable accuracy at any time the financial posibon of the Charity and enable them to ensure that the fmancial staiernents comply with the Charities Act 2011. the applicable Charities (Accounts and Report5) Regulations. and the provisions of the constitutioft. The Trustees ar¢ also resport5ible for safeguardtDg the a&sets of the Charity and hcnce for taknig reasonable steps for tb¢ prevention and ddethion of fraud and other Érregularitie5. Approved by the TneeS of the (knity on 29.09.2025 and 5]d on its behalf by.. Roderick Hugh Alexander M¥DoJJgald Chair of Trust¢¢s
Independent Examiner's Report The A¢eounts (Aceruats Ae¢ounts) Report io the trjstees of The Pavioys. Charity On accoutsts f¢)r the year eE¢d 31 December2024 Set out on pages Charity Number. 1102885 7t013 Respective responsibilities of trnstees and ex&miner The rharity's IDJsiets are respoDsilyle for the preparatiot) of the accounts. The charity's twstees sider an audÈt is not requir¢d for this year (under section 544(2) of the Charities Act 2011 (the 2011 Act) and that an illdeF*ndent examination is needed. It is my rwnsibility io examine the accounts under 5xlion 145 of the 2011 Ac4 io follow the pri)cedures laid down in the general Dire¢tions given by the Charity Commission under sethion 145(5Xb) of the 2011 ACE and 10 state whether parficular matters have come to rny attention. Basis of independent examiner's $tatement My examination was carried 0 in rdance with genera] Directions given by the Charity Cotnmission. An examination ineludes a review of th¢ accounting records k¢pt by the charity and a eornparison of the aCcts presented with those records. li also includes Consideration of any IusUal itetns or disclosures in the accounts and s¢¢king explanations from the trustee5 c¢)nceming any such matters. The proeedures underraken do not provide all the evidence that would be required in an audiL and Consequently no ¢)PiDion is given as to whether the accounts pre5em a'true and fair view. 8nd the ffp)rt is limit to thos¢ matters set out in the statemeTtt below. Independent examiner's $tgtement In ¢ODnection with my examina. no matterh&% come to my attention: which gives me r¢asonthle cause to tr¢lieve in any mAt¢rial requiretllents: respecl the to keep accounting records in accordanc¢ with section 130 of th¢ 2011 Act,. and io prepare accounts which accord with the accounting tr¢ords and Comply with the 2pplicable requirements c¢)ncerning the fonn and content of accounts set out Én the Charities (Accounts and Reports) Regulation5 2008 other than any requiremeni that the accounts give a 'true and fair, vi¢w which is noi a matt¢rconsidtred as part of an independent examination. have not been or (2) lo which, in my opknion. attention should be drawn in order to enable a proper understsnding of the accounts to be reach. Signed Name Jxkie Crouch Relevant professional qualification or body AAT Address 12 Bramble Rise Cobham Surrey KTII 2HP
The Paviors, Charity Statement of Finanei41 Activities For th¢ Year EDded 31 December 2024 Uttrestricted Restrieted funds funds Totsl 2024 Totsl 2023 Note Ineothe aDd EttdoTYmertts from: Donations Charitable activities- Lecture Charitable acttVÉlses- B211 Charitable adivities- Golf InYestm¢Dt income 103,115 16,250 44227 6,391 103.115 16250 44.227 6J91 30,740 32,475 Totsl Income 192 635 EXpendItre Ch&ritable activities Fundraising events Governance costs 88,844 38,393 88.844 38,393 93,434 Tota] Expendtture 105229 Nel movement in fun 41.945 41,945 (20,566) Gains on investsn¢nt &%s¢ts 47.667 47,667 80,715 Total fijnds brought foThvard 933415 966 32 906 183 Total fimds carried foThvard 10 .023 027 966 332 All of the Charity's activÈti¢s dertve from ¢otttinuing opetatiijns during the atoye No period5. Page 7
The P9viors' Charity (Regi$tratioD number: 1102885) Balance She¢t as at 31 December 2024 21)24 2(123 Nole Fixed ¥5sets Investsnents 903,449 866,417 Current assets Debtors C&sh at bank 152 615 152615 120 Current Liabiliti¢s- Credi N¢¢ assets 80 966 332 Fund5 of the Ch*rity'. Restricted fuTrds 32.917 32,917 Unte51rieted ineome futsds Unrestricted fijnds 1023 027 933 415 Total futtds 1.055,944 966,332 The financiai statements on pages 7 to 13 wtte approved by the Trustee4 and authorised for issue on and signed on thetr behalf by". Ri)d¢rick Hugh Alexander MacDou8 Chair of Tn]5t¢es Pag¢ 8
The Paviors, Charity Notes to the Financial Ststements For th¢ Year Ended 31 December 2024 l Accounting policies ststemet of fompliance The financial stsielnents hav¢ been prepared in accorth with Accounting and Reprting by Charttie5.' Statement of Recornmend¢d Prnctt¢e applicable to charities Preparing their a¢thts tn accordance with the Financial Reporting Standard applicabl¢ in the UK and Republi¢ of Ireland (FRS 102) (effective l January 2015) - (Charitse5 SORP (FRS 102)). the FinaDcia] Reporting Standard applic8ble iti the UK and Reptsblic of Ireland (FRS 102) and the Chariiies A 2011. Basis of preparation The Paviors, Charity meets the defirtitton of a public benefit entity under FRS 102. As5¢ts and liabiliiies are initially recognised at hisiorical Cost or tran58dion Yalu¢ ullle55 otherwise swed in the relevant accounting licy notes. Coing eonc¢rn The Trustees consider there pre no material uncertainties aboui the Charitys ability to continu¢ as a going COA¢em. Income and ertdowments Donations. investment and rentsl incom¢ are recognised on a receivable basis. ExpeRdilure These costs include costs relared to the ind¢peThJent examinion. Gtants snd general donatii)n5 are ac¢ounled for on a payable b&8is. Shared cos are apwttoned to activities in filrtherance of the objects of the Trust. Fund aeeounting Unr£stricted funds can used ID a¢cordanc¢ with th¢ charitable objectives at the di5¢retion of the TnLSte¢5. Restricted funds can only be used for Wicular restricted purFX)ses within the objects of the Charity. RtstrirtioThs ari5c when specified ty the donor or when funds are raÈsed for particular restrtcted purposes. Futtherexplanaiion of the nature and purw of fiwd is tuclu(kd in the notrs io the financial statemert Stocks Stock consists of a number of M&st¢trs Meda]s and P4viors' Medals. Ott eath ocasion one is awarded the c05t is Charged io resources endJ. Jnves¢m¢thts Quoted investments are valued ai market value as at the FAlan¢e sheet date, attd any unrealised gains or losses are shown Tn the Statem¢nt Of Financial Activiiies. Taxatio Th¢ Charity is exe]npt fmm on its charithble activities. Value Added TAI Value Added T&% i5 noi recoverable by the Charity and as su¢h is included in the retevant costs in the Ststernent of Fknancial Activities. Page 9
The Paviors, Cbarity Notes to the Financial Statements For the Year Ended 31 December 2024 Fixed 855et investments Fixed &%set investsnenw other than programme related inY¢5mieTLts. atr included at vatue at th¢ balance sheet date. Realised gaiDS and l¢)sses on investtnents are CClated as the difference ben¥een sales proceeds and their market value at the start of the year, or theiI subsequeni cosl and are charged or credId to the Statement of Fi[w)c AdLVLties iti the period of diSSaI. Unrealised gains artd losses represent the mov¢ment in markd values durtng the year and ar¢ credited or eharged to the Staterneni of Fiajancial Acttviti¢s b&1 on the mark¢t value at the year end 2 lTre•me from donatiODS and legaeies Unre5tri¢ted funds Total 2024 Total 2023 General th)nations- Members Gift Aid CAF Laiftg Trust - Winkworth Shernood 48.350 14.536 23,279 48.350 14,536 23279 5,000 2,000 25.740 2.000 103 115 103 115 3 Investment ineome UDrestrict¢•J funds RrJlrki¢d funds Tot#1 2024 Totsi 2023 CeDer#l Dividends Interest receiv&1 22285 367 22,285 367 22,652 21,448 Page 10
The Paviors, Charity Nole5 to the FRnaDC121 Statements For Ihe Year Ended 31 December 2024 4 Expenditure on ¢hartt•ble ctivities Unrtstricted fut)ds Restricted fuods Tolal 2024 Total 2023 Gener•1 Grants- Current year Govemance costs 88.844 88.844 93,434 112297 112.297 105 29 Fundraising EVets 28.782 Ball 28.782 38.393 5 GoverTrante costs Unrestricted Restrieted funds Totsl 21124 Tot%1 2023 Genernl Genernl Clerk's rerni]neration Independent examiner's fee Bank Charges Just giving fets Offi¢e Costs Rathbone's management fees Legal fe¢5 Consultants fe¢5- Ad LirniDa 2,400 1,968 129 216 329 6.441 6.570 5.400 23.453 2,400 1,968 129 216 329 2,400 1,200 127 216 6,441 6,570 5.942 1.910 23,453 6 Trnstees r¢muneration and eipefjses No Tnjstees, nor any p¢rsons connrfd with them. bave 1ved any personaI Temuneration from the CharÉty duriD8 the year. Pagell
The Paviors, Charity Notes to the FiDaneil Statements For the Year Ended 31 Deeember 2024 7 Flx¢d asset invetheDts Listed investments Total Cost or Valuation At l January 2024 Revaluation Additions Disposa15 866,417 866,417 44,496 44.496 121,841 121,841 129305 129 305 At 31 December 2024 903 449 903 449 Net botsk value At 31 Decemr2024 903 449 903 449 At 31 Decernber 2023 866 417 804 427 8 Debtors 2024 2023 Prepaid events 9 Funds BlÈD¢e It 31 Invesiment Resourte5 tkcernber reVaItIon expendtd 2024 Ba12n¢e at I Incomiffjg January 2024 rewurces Unrestrict¢d funds General 933,415 154242 47,667 (112297) 1,023.027 Restricted Total futtds 966.332 153.512 1.055,944 Page 12
The Paviors. Charity Notes to the Financial StstemeDts For the Year Ended 31 Deeember 2024 10 Analysts of net assets between lunds UDrestri¢ted funds Tot*1 funds Gene1 Fixed asset investtnents Current as5¢ts Current liabilities 903,449 903,449 152.615 152,615 120 Total net a5s¢ts 1,055 944 1054 694 11 AD8tysis of net Atl January 2024 At31 December 2024 Cash flow Cash at bank and at Rathbones 99.995 52,620 152,615 99.995 52,620 152.615 Page 13