Charity registratioD number: 1102885
The Paviors, Charity
Report
For the Yur E￿ded 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 tr￿lee
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& d￿ed 8 Aprrl 1993
and subsequently cbanged its nam< as Wdried by deed of tr￿4 to The Paviors. Charity on 3 March 2022.
The objecuve of the Tn￿ is for the b￿efit 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 e￿endIng 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 reg￿d to public guidance published by the
CFwiry Cornrnission.
Grt7nl
The trustees have develo￿1 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 appli￿lonS for gr￿n￿ and work instead with inst[￿lI0￿S by providing them
with filnding to suptx)rt thetr a¢tiYitie5. Generdl grants ar¢ made to IxKlies on a r￿U￿1￿8 basis. althougb without
commilmenL
Aehievements 8Trd perform*Act
The principal source of incorne of the TnESt is derived from inv¢S￿ents, 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 atTIlT*aons 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 fi￿d rncome (from divid¢nds) will be
reinve￿ed {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 (wni￿l0￿8'.
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 stUd￿ts
Smatlp¢ice Trwq- Arkwn"ght scho]a￿￿1pS
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￿ ExplOi￿10n 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 Worship￿1 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
S￿Ond 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 cO￿ld￿ 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 Tn￿tres are
required to:
seled suitsble ac¢ouDting wlicie5 and then apply thern consist¢ntty"
obs¢rye the methods a￿1 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
di￿losed and explained in the financial sthtements. and
prepare the f￿ancial 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 Tn￿eeS 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 aCc￿ts presented with those records. li also includes Consideration of
any I￿usUal 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
EXpendIt￿re
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
ststeme￿t 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 examin*ion. Gtants snd general donatii)n5 are ac¢ounled
for on a payable b&8is. Shared co*s 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 e￿nd￿J.
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 C￿C￿lated 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 credI￿d to the Statement
of Fi[w)c￿ AdLVLties iti the period of diS￿SaI.
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 EVe￿ts
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 connrf*d with them. bave ￿1ved any personaI Temuneration from the CharÉty
duriD8 the year.
Pagell

The Paviors, Charity
Notes to the FiDanei*l 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 Decem￿r2024
903 449 903 449
At 31 Decernber 2023
866 417 804 427
8 Debtors
2024
2023
Prepaid events
9 Funds
B*lÈD¢e It
31
Invesiment Resourte5 tkcernber
reVaI￿tIon 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
Gene￿1
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