REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 KIRCH 2024 FOR WORSHIPFUL COMPANY OF BASKETMAKERS 2011 CHARITABLE TRUST
THE BASKETMAKERS 2011 CHARITABIE TRUST CONfENfs OF THE FINANCIAL STATEMENrs FOR THE YEAR ENDED 31 MARCH 2024 Report of the Tnjstees Ito7 Report of the Independent Examiner Statement of Financial Aclivities Ba]ance Sheet 10 Notes to the Financial Statements IltolS Det2iled Statement of Financi21 Activities 16to17
THE BASKETMAKERSY 2011 CHAIUTABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The Ttustees ptesent their ieport with the financial statements of the ch2tity foI the year ended 31 March 2024. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1141986 Ptincipal addtess 3 Stratton Matston Moretaine Bedford MK43 OXH Ttustees Gtsham Aslet Stephen Bowsher Hedley French Anne Holden Philip Miles Dorothy Newlands of LalstOn Jing Li (Appointed 26 July 2023) Jonathan Pyzet (Appointed 26 July 2023) Richard Burn (Appointed 26 July 2023) Annaliese MShall (Appointed 26 July 2023) Honorary Secretsry Hedley French (Resigned 26 July 2023) Richard Burn (Appointed 26.luly 2023 Independent Examinet chatd Spoffotth Bsc FCA Kreston Reeves LLP Second Floor 168 Shoreditch High Street London El 61IA Bankers Natwest PO Box 35 l O Southwark Street London SEI Irr Grant Application Administrator Jing Ii 56 Flotilla House 12 Cable Street Royal Wharf. Silvertown London E16 2SX
THE BASKETMAKERS, 2011 CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YLIR ENDED 31 MARCH 2024 REFERENCE AND ADMINISTRATIVE DETAILS Investment Fund Managers Cazenove Capital Management I LL)ndon Wall P12ce London EC2Y SAU STRucfuRE, GOVERNANCE AND MANAGEMENr Governing document The charity is constituted 2nd managed in accordance with the Trust Deed of 16 M2tch 2011. RecruAtment and appointment of new trnstees New TnteeS of the charity are appointed by the existing Ttustees. The Worsp£u1 Company of Basketmakers has the power to remove Ttustees. Induction and training of new tntee8 Trustees are given the opportunity to attend training seminats and ate teferred to the Chatity Commission website. Organisational sttucture The Trustees appoint a Chair from among their number. They also appoint an Honorary Sectetary, who may also be Ttustee and attend Trustee meetings. The Secretary njns the chatity on a day to day. Related parties The Worshipful Company of B2sketmakets is a Royal Chartez Company, number RC703. Rxsk management The Ttustees have assessed the major tisks to which the ch2rity is exposed. in particular those risks tdated to the operation and fJn2nces of the chlty and ate satisfied that systems are in place to mitigate exposure to the major risks, although it is recognised that systems can only provide reasonable, not absolute. assurance. These systems ate reviewed at least once every ye2t. The Trustees have identified the following as the ptinapal risks faced by the Charity: Risk identified Undcrpcrformance of investmeIits Action taken to mi ate the risk Investments are managcd by a leading firni of Investment Fund Managers whose perforn]ance is monitored by one of the Trustees 2nd teported regularly to the Ttustee body. All payments by the charity are approved by the Trustee body and all payments m2de are authorised by two Trustees. All donations ate approved by the Trnstee body. Whetev possible payments are onty made ¥inst teceipted invoices. Regulat payments ate conditional on annu21 monitoiing and satisfactory petfonnance 2nd are ie-authoiised annually. Misfeasance of assets Chatitsble giving is not used in the way intended
THE BASKETMAKERS, 2011 CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YL4R EfqDED 31 MARCH 2024 Key Management Personnel The Trustees comprise the key management personnd of the ch2tity in cljarge of ditecting and controlling, nmning 2nd operating the chatity on a day to day basts. All give of their time freely and no Trustee received temuneration in the y. No Trustees expenses have been incutted in the year. OBJECTIVES AND AcfIvITIES Objectives and aims The Charity supports: Charitable objectives related to the trade of Basketrn2king induding education 2nd welfare. Charitable objectives relating to the City of Ixindon including the Lord M2yOt's Appeal. The Guild Church. St Matgaret Pattens. Small chatities focused ti)2inly in IL)ndon. Benevolence for Company membets and theit dependents Donations to London charities conlinue to be concentr2ted on a testticted numbet of charities, which allows the maintenance of better relationships with those involved in tunn1 the It also hdps the Trust ensute funds are being used responsibly. Most support ts provided to social and welfare type chatities. such as rehabilitstion. assistsnce to the homeless and Gqre for the dderly, piimarily in the poorer areas of Inndon. SAgnificant activities The objectives, as detsiled separatdy, continue to 2llow the cljarity to be focused in its gtant making, and the appointment of a Grant Application Admintstrator continues to facilitate the hand]ing of requests fot assistance.
THE BASKETMAKERS, 20ll CHAIUTABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 SAgnificant activities (cotttinued) The Basketmakers, competition continues to operate SuccessfLy. Four ptizes totaling £4,500 were awarded with ptizes given in both the Tr2dition21 and Contempotsry B2sketry categories. The charity supp]ies baskets to official dinner guests of the Worshipful Company of Basketmakets and sponsors the Ptime Warden's Consort Days. all of which promote the trade of basketmaking. An annual butsary is also made to provide support to someone keen to putsue a development opportunity which will benefit their basketry practice. The charity also works with Cockpit Arts, the UK'S only uealive business incubatot for craftspeople. O nding has enabled Cockpit Atts to offer places to profession21 basketmakers in each of the last three yeats on their development ptogrammes, enabling them to develop theit businesses. The oIiginal programme was extended in 2021 in cooperation with the Basketmakers, Association to an online course for up to 16 basketmakets, which was very well received and tepeated in 2022. Although there was no course in the cuttent year, funding is ]ikely to tecommence in 2024/5. Gtantmaktng The charity sponsoted seven charities during the year giving £4.500 to 0,500 per annum each ovet a three yeat period. subject to satisfactory annual reviews. Each charity was reviewed by two Trustees and a fithet annu21 payment was agteed for each. Duting the yeat the list of charities was reviewed, as some had come to the end of their trspective support periods. Four new charities were added to the hst and the Shetiffs, and Recorder's Fund, Magic Bieakfast and Food Cyde were retained. Going forward. the charities receiving regular support in this way wijl be: She£iffs' & R¢cordeEs Fundsupports the rehabilitation OF p£isoners. An annual payment of £5.000 is made. Mwc B£eakfAstis 2 registered charity which aims to end hunger as a b2ttier to education in UK schools through the provision of healthy breakfasts to vulnerable children. Magic Breakfast continued to operate thtoughout the pandemic and the Trustees continued theit support for a thiid year of their initial three yeat period. The Trustees also agreed to extend their support by committtng to a second tee year period and to inctease their giving to £7.500 2 year during this second period. Foodcycle St Cuthberts is a branch of Foodcyde, a national charity which ptovides delicious cotnmunal three course meals for people at risk of food povety and social isolation using surplus food. Foodcyde St Cuthberts is associated with St Cuthberts Church, West Hampstead whose Associate Vicar is a Laveryman and Court Assistant of the Basketmakets Company. The ch2tity oIiginally contributed £4,000 a year to Foodcycle but increased ed this giving to £7.500 a yeat for the cuttent teporting year. CroFYrJ andmanor Club is a Youth Club in Hackney> North tL)ndon which provides sporting, academic and tecreational activities fot boys and young men. Gamcare ptovides inforniation. advice & support fot anyone affected by problem gatnb]ing and works to raise awareness of gambling related harn]s.
THE BASKETMAKERS, 20ll CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YE4R ENDED 31 MARCH 2024 OBJECTIVES AND ACTIVITIES Grantmaking (continued) Glass DoorHomeless Charirfs vision is a world where no one has to sleep on the streets of London, 2nd is working every day to achieve this. By partnering with churches 2nd community centres to provide shelter and support, Glass Door ts committed to supporting people to get off and stay off the street. XLPseeks to create Positive futures for young people growing up on ijjnet-city estates in London, addressing issues such as family bleakdow unemployment and education21 failure in areas that experience hgh levels of anti-social behaviour and gang violence. Clown and Manor Club. Gamcare. G12ss Door Homdess Chatity and XLP all teceived £7,500 in the tepotting year. The charity has an ongoing commitment to St Margatet Pattens Church, which increased during the cuttent yeat from £4,500 to £6,400 pet annum. An annual grant is made to the IA)td Mayogs Appe2L The charity supports b2sketmaking courses via the Basketmakers. Association 2nd the City Lit. It also offets butsaries to basketmakets Avishing to enhance their skills by attending specialist courses. Sm2ller. 2dditional grants continue to be made to a number of charities on a one-off basis, as chosen by the Trustees following submission of requests vetted by the GThnt AppCation AdmIntratOr. Income sources We are fortunate to have the support of the Worshipful Company of Basketsnakers and their members who havL. been generous with theiI donations 2nd An volunteering their SUPPOZL The chatity's othet principal income source is from income received on its investments. Many BaSketrnake incteased theit tegular giving or madc one-off donations as a result of the letter sent ia March 2022 At the st2rt of Queen Fli7.abeth's Platinum Jubilee Yeat to all Tiverymen 2nd Freemen of the Worshipful Company of Basketmakers, inviting them to support the charity by reviewing and increasing their financial support. We ate very gratefid to those who responded in this way.
THE BASKETMAKERS? 2011 CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW Investment perforniance Our portfolio has ptoduced an inuease in totsl tetum of 11.420/0 over the last year (4.3 % loss over 2022_2023). Reserves review including policy The Tnt nIntaInS income teserves to cover fluctU2ti0ns in income and to enable it to meet requests Eot exceptional grants at short notice. The Trustees have reviewed the reserves of the charity and have established a policy under which the free reserves held by the chatity should be between three and fout months projected annu21 expenditute. that is between £25,000 and £30.000. The amount and timing of grants 2nd donations made by the ChatAty is detern]ined so that reserves can be maintained at the agreed level. The Tnt'S resetves iesetves pojicy is teviewed at least once every year. At 31 March 2024 the free resetves were £62,454 (2023 £48.744). The free tesetves at the end of the year remain in excess of budget and the excess amount has increased as a result of actions tsken and by hh investment rett1 in the year. The trustees continue to seek to increase theit activities, especially within the BaSketmak1 trade, to reduce the resetves to fit vJithin the policy. Principal fimding sources We rely on investment income and on the members of the Worshipful Company of Basketm2kets for funding our gt2ntm2king ptogramme. We ate very grnteful for the QeS received duting the year. Investment policy and objectives Our main investment objective is to maximise total return with an income bias whilst adopting a moderate approach to tisk. We achieve this thtough investinent in diversified common investment funds. Confiict of Intetest Thc Trustccs have a system in place to identify any conflicts of intetests that m2y occur. When a confiict of Intest arises. the rdcvant T£ustee oi TThteeS agree to withdraw from any discussion and decision. Going Concern The Board of Trustees is of the opinion that the Charity has adequate tesources to continue in operational existence for the foreseeable future and there are no material uncertainties regardll the Ttust's ability to do so.
THE BASKETMAKERS. 20ll CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW (continued) Public Benefit The Trustees have referred to the Charit! Commission's guthce on Pubjic Bcnefit whcn teviewing their 2ims. objectives and planning their future activities. FUTURE DEVELOPMENTS We look fotward to incteasing out fundtaising and gtantmaking both through allocattng additional tesources to deal Ivith rquests fot grant fimding and through imptoving our online ptesence. FUNDRAISING We are mindfill of the Code issued by the Fundraising Rcgulatot. We did not use any thitd parties in out fimdtaising activities and no complaints wete received in the year. TRUSTEES RESPONSIBILITY STATEME The Trustees are tesponsible fot ptepating the Report of the Trustees and the finanaal statements in accoidance with applicable law and United Kingdom Accounliag Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to chatities in England and Wales, the Ch2rities Act 2011, Chatity (Accounts and Reports) Regulations 2008 and the provisions of the Ttust Deed rquixes the Trustees to prepate financial statements for each financial year which give a true and fair view of the state of affaits of the charity and of the incoming resources and application of tesources induding the income 2nd expenditure. of the chatity for that period. In preparing those ffftancial statements. the Trustees are required to select suitable accounting poliaes 2nd then apply them consistentlyg observe the methods and ptinciples in the Chlty Ststement of Recommended Practice make judgements and estiinates that are reasonabk and prudent; state whethet app]icable accounting st2ndards have been followed, subject to any material departures disclosed 2nd explained in the financial statements: and prq)2re the financial statements on the going concem basis unless it is inappiopiiate to presume that the charity will continue in business. The Trustees ate tesponsible for keeping proper accounting tecords which dAsclose with reasonable aCcaCY at any time the financial Position of the charity and to enable them to ensure th2t the flljancial statements comply with the Charities Act 2011, the Charity (Accounts 2nd Reports) Regulations 2008 2nd the provisions of the Ttust Deed. They are also responsible for safeguarding the assets of the chatity and hence for taking reasonable steps for the ptevention and detection of fraud and Oth irregularities. X4- Approved by otder of the B02td of TnteeS on .................... 2024 2nd signed on its behalf by: Trustee
THE BASKETMAKERS 2011 CHARITABLE TRUST REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES OF THE BASKETMAKERS 2011 CHARITABLE TRUST I teport to the ttustees on my ex2min2tion of the accounts of the Basketmakets 2011 Charitable Trust (th Trust) for the year ended 31 March 2024. Responsibilities and basis of report As the trnstees of the chatity you ate iesponsible for the preparation of the accounts in accotdance with the requirements of the Charities Act 2011 Cthe 2011 Act). I report in tespect of my examitLqtion of the chatity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Ditections given by the Chatity Commission undet section 145(5)(b) of the 2011 ACL Independent examinees statement Your attention is dtawn to the fact that the charity has prepared the accounts in accordance with Accounling and Reporting by Chatities: Statement of Recommended Practice applicable to chatities prepating theit accounts in accordance with the Financi21 Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l J2nU2ry 2019) in preference to the Accounting and Reporiing by Chatities: Statement of Recommended Practice issued on l April 2005 which is tefetted to in the extant regulations but has been withdtawn. I understsnd that this has been done in order for the accounts to provide a true and fait view in accordance with the Generally Accepted Accounting Practice effective for reporting petiods beginning on or after I January 2019. I have completed my examination. I confirn] that no m2teti21 m2tters have come to my 2ttention iti connection with the exaMItion giving me cause to believe that in any material respect: . accounting records wete not kept in respect of the Tntst as tequired by section 130 of the ACL or 2. the accounts do not accord with those records: or 3. the accounts do not comply with the applicable requirements concerning the forni and content of accounts set out in the Chatities (Accounts 2nd Reports) ReguJAtions 2008 other than any tequitement that the accounts give a 'true and fair view which is not 2 m2ttet considered as part of an independent examination. I have no concerns and h2ve come actoss no othet matters in connection with the examination to which attention should be drawn in this report in oidet to cnable a proper understanding of the accounts to be tcached. Signed: Dated: 8 January 2025 Richard Spofforth Bsc FCA Kreston Reeves LLP IK)ndon
THE BASKETMAKERS 2011 CHARITABLE TRUST STATEMENT OF FINANCIAL AcfIvITIES FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Unrestricted Endowment Total funds Totsl funds fund fund Note INCOME FROM: Donations and legacies Investments 535.653 535,653 202.565 Total income 632.631 632,631 281.295 EXPENDITURE ON: Charitable activities The trade of basketinaking City of London charities St Margatet Pattens Small chatities, mosdy from IL)ndon Benevolence Support Costs Raisxng Funds 5/6 41.368 15.860 41,368 15,860 6,400 42.000 6.600 3.997 34,622 5,000 4,500 69,000 1,026 2,925 42.000 6.6(Kl 3.997 Total expenditute 124,014 124.014 121.7.31 Net ittcome / (expenditute) before gain8 on inve8tment8 508.617 508,617 159,564 Other tecognised gains/(losses) Net g2ins/O ) on investments osses 114165 157 181 Net movement in funds 538.787 114.165 652.952 2,383 Total funds brought forward 48.743 1.871,376 1,920.119 1.917.736 TOTAL FUNDS CARRIED FORWARD 587 530 1985 541 2 573 071 1920 119 All activities ate conlinuing. There 2re no other gains ot losses other than those shown above. The notes forni part of these financial statements
BAIANCE SHEEr AT 31 MARCH 2024 2024 2023 Totsl funds Total fiumjs Unrestricted fund fund Note FIXED ASSETS Investments 483.817 1.989,410 2.473227 1.878.674 CURRENf ASSETS Debtors C28h at bank B21anang fi8Ute at cash 26,968 75.476 26,968 75.476 21.897 21057 106J13 (3.869) I44 43,954 CREDITORS Amounts falling duc within one yr 10 NET CURRENT ASSETS/(LIABILITIES) TOTAL ASSETS LESS CURRENf LIABlllTIES &£1 NET ASSETS 587530 1.985541 2,573.071 1.920,120 UArestrACtcd fimds Endowment £unds 587,530 48,744 TOTAL FUNDS 2573.071 1.920.120 The fin2n(ial 8tatements wett 2ppTrved by the Boa of TnLStees oo .. . .. by: 2024 2nd were signed on its behalf TTrtee The notes fotto part of these fin2n(ial slxtements 10
THE BASKETMAKERS 2011 CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENrs FOR THE YEAR ENDED 31 MARCH 2024 GENERAL INFORMATION The charity ts a public benefit entity which is incoTorated in England and Wales. The address of its registered office is: 3 stratto Matston Motetsioe, Bedfor& MK43 OXH. AcCOUrING POIICIES The princip212ccounting policies adopte(L judgements and key sources of estimation uncertainty in the preparation of the financlal statements are as follows: Basis of pteparing the financial statements The financi21 statements have been prepared in accordance with Accouniing and Reporting by Charities: Statement of Recommended PrActice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Irdand (FRS 102) (effective I January 2019) - (Ch2tities SORP(FRS102)) and the Financial Repotting Standard appbcable in the UK and Republic of Ireland (FRS 102). Presentational currency and levd of rounding has been applied to the accounts. The Basketmakets 2011 Charitable Trust meets the definition of a public entity under 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevat)t accounting pohcy notes. Going concern The Board of Trustees is of the opinion that the charity has ad4uate resources to continue in operational existence Eor the foreseeable future and there are no material uncertainties regarding the Trust's ability to do so. As such the Trnstees continue to adopt the going concern basis of accounting in preparing the fthancial statements. Accounting convention The financial statements h2vc been prepared undet the historical cost convetttio as modified by the revaluation of investments. Taxation The charity is exempt from Income Tax 2nd Capit21 Gains Tax on its charitable activities Donatioos and legacAe6 Donations and lecleS are ctedited in the period in flvhich the chfirity becomes entitled to them and include related taX2tion recoverable. l)on2tions and legacies of assets are valued when they are tecognised in the accounts. Legaaes 2re reg2rdcd as receivable when they can be quantified with reasonable accuracy, 2nd when any conditions for teceipt have been complied with. Investment income Dividends and interest on listed investments are accounted for when receivable. Other interest is taken into account on an 2ccnJ21s basis. All investment income is stated indusive of any telated t2X2tion recoverabl& Expenditure Expenditure is accounted fot on an 2ccruaJs basis and has been classified urjder headings that aggregate all cost telated to the catcgory. Where costs cannot be direcdy attributed to P2rticu12r heAdthgs they have been allocated to activittes oa a basis consistent with the use of resources. Grants offeted subject to conditions which have not been met at the year-end date are noted as a commitment but not accrued as expenditure. 11
THE BASKETMAKERS 2011 CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS - CONfINUED FOR THE YEAR ENDED 31 MARCH 2024 2. ACCOUNTING POLICIES - contAnued Support Costs Support costs are those associated with the supporting of the chatity not rdating to fundraising, charitable activities oi day to day managemenL Cash and cash equivalents Cash and cash equivaknts indudes cash and short tern] highly liquid investments with short tem matutity of three months ot less from the date of acquisition or opening of the deposit or similar account. Cteditots and provisions Creditors and ptovisions are recognAsed whete the charity has a present oblgation iesulting from a past event that will prob2bly result in the transfer of funds to a thArd party and the amount due to settle the obljgation can be measured or estimated reliably. Cttditors and provisions are nornully recognised at their settlement amouot after allowing for any trade discounts due. Fund accounting Unrestiicted fimds These ate funds which are expended at the discretion of the Trustees in furtherance of the objects of the charity. Restticted fimds Restticted funds ate funds subject to specific tnists, which may only be expended in accordance with the conditions imposed by the donots. Endowment fimds The charity has an expendable endowment fimd detived from donations from individuals who have specified that they should be accumulated and from the Wotshipful Company of Basketmakers Charitable Ttust. The income is spent on the general ch2titable objects of the trust and the capital of the FLmd can be spent if the tteeS so detern]ine. Investment8 Investments are valued at mid-market value at the balance sheet date. with any differences in valuation being recorded thtough the Statement of Financial Activities. Estimates and judgements Estimates 2nd judgcments are continually evaluated and are based on historical expetience and other factors, including expectations of future events that ate believed to be reasonable under the cixcumstarAces. Although these estimates are based on the Tn]stees' best knowledge of the amount, events ot actions. 2ctU21 tesults ultimatdy difftt from these estiti)2tLs. The trustees do not consid there to be any estimates 2nd judgements. Financial Instruments The chatity only has financial assets 2nd financi21 liabilities of a kind that qualify 2s basic fin2nci21 instruments. Basic financial instrLmients, induding trade and other debtots and cteditots ate InitlY tecognised at transaction value and subsequentty measurcd at theii settlement value. 12
THE BASKETMAKERS 2011 CHARITABLE TRUST NOTES TO THE FINANCLIL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 DONATIONS AND LEGACIES 2024 2023 Individual endowment donations - Gift Aid Individual endowment donations - GYE, KKL and CAF Individual untestticted donations - Gift Aid Individual unrestricted donations - GYE. KKL and CAF Individual UltrIcted donations - other Company aod Tn]st untestricted Bequests & Legacies 5.144 6.649 22,579 110 2,820 26.598 720 2.581 775 165 242 202,565 505 000 535,653 INVESTMENT INCOME 2024 2023 Cazenove portfolio investment income Intetest income 95,862 78,534 196 78,730 96,978 CHARITABLE AcfIvITIES COSTS 2024 2023 The Ttade of Basketmaking City of London chatities St Matgatet Pattens Small charities. mainly in London Benevolence 41,368 34,622 5,000 4,500 69,000 6,400 57,860 112228 114,148 SUPPORT COSTS 2024 2023 Trustee insurance Legal Fees Examiner's remuneration Other BookkeepirAg 410 720 1,700 (153) 205 420 1,620 680 2,925 3.997 13
THE BASKETMAKERS 2011 CHAIUTABIE TRUST NOTES TO THE FINANCIAL STATEMENfs - CONfINUED FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEES, REMUNERATION AND BENEFITS There were no ttustees, temuneration or other benefits fot the yeat ended 31 Match 2024 nor fot the year ended 31 March 2023. There were no tnistees, expenses aid for the ye2r ended 31 Match 2024 nor fot the year endcd 31 March 2023. FIXED ASSET INVESTMEwrs Common investment funds At l Apttl 2023 Sales Putchases Equalisation Revaluations 1,878,674 (3,427) 455,000 (1,353) At 31 March 2024 2.473,227 NET BOOKVALUE At 31 March 2024 2,473,227 At 31 March 2023 1.878.674 There were no invesiment assets outside the UK SUTL Cazenove Charity Mu]ti-Asset Fund - matket value Cazenove cash balance £2,473.227 £28.182 DEBTORS: AMouNfs FALLING DUE WITHIN ONE YEAR 2024 2023 Prcpayments Due from Wo£shipfill Co of Basketmakers -donations Income tax 224 205 26,968 21,897 10. CREDITORS: AMOUNfs FALLING DUE WITHIN ONE YEAR 2024 2023 Cteditors Accrued expenses 900 680 2.600 2,508 14
THE BASKETMAKERS 2011 CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENfs - CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 11. MOVEMENT IN FUNDS Net movemettt in funds At 1/4/23 At 31/3/24 Untestricted funds Unrestricted 48,743 538.787 587,530 Endowment funds Expendable endowment fid 71 TOTAL FUNDS 1,920,119 652,952 2,573,071 Net movement in funds, induded in the above are as follows: Income Expenditure GaAns and Movement Losses in funds Unrestsicted funds Unrestricted 632,631 (124,014) 30,170 538,787 Endowment fund Expendable endowment fimd 114165 TOTAL FUNDS 632,631 (124.014) 144,335 652.952 12. FINANCIAL INgfRUMENr 2024 2023 Financial assets at fair value Financial assets at amortised cost Financial liabilities at amortised cost 2.473,227 26,968 (2,600) 1.878,674 21,897 (2,508) 13. REIATED PARTY DISCLOSURE Donations teceived from Trustees duting the year amounted to £4.980 (£5.474 2023). Dwing the P10d, the Worshipful Company of Basketmakers received individual cbaritable donations of £650 (2023: £205). There were no other tr2ns2ctions with telated parties in the cuttent or prior yeat. 15
THE BASKETMAKERS 20ll CHARITABLE TRUST DETAILED sfATEMENf OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 2024 2013 INCOME Donations and legacies Individual endowment donations - Gift Aid IndIaUal endowment don2ti0ns - GYE, KKL 2nd CAF Individu21 unrestricted donations - Gift Aid Individual unrestticted donations - GYE, KKL and CAF Individual unrestiicted donations - other Company and Trust unrestricted Bequests and Legaaes 5.144 6.649 22.579 110 2,820 26,598 720 2,581 775 165 242 505 000 535,653 202,565 Investment income Cazenove portfolio investment income Income ftom sale of Maven transfet ITh of secutities Intetest income 89,001 6,861 78,534 196 96,978 78.730 Total income 632 631 281295 EXPENDITURE Charitable activities Grants to the trade of b2sketm2king Grants to City of London charities Grants to the Guild Churcty St Margaret Pattens Grants to small charities, mostly from IA)ndon Benevolence 41,368 15,860 6,400 42,000 34,622 5.000 4,500 69.000 112,228 114.148 This page does not fomi part of the statutory finallcial statements 16
THE BASKETMAKERS 2011 CHARITABLE TRUST DETAILED STATEMENT OF FINANCLIL AcfIvITIES FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Support costs Trnstees insurance Legal Fees Ex2miner's temunetation Other Bookkeeping 410 720 1.700 (153) 205 420 1,620 680 2,925 3.997 Raising funds Investment management charges Admin support Bank charges 4,758 3,000 31 4,510 148 7,789 4,658 Total expenditure 124,014 121,731 Net income/(deficit) before investment gains/losses 508.617 159,564 Realised tecognised gains and losses Realised Qosses)/ gains on fixed asset investments 157 181 Net income/(deficAt) 652,952 2.383 This page does not forni part of the statutory fin2ncial statements 17