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2020-11-30-accounts

CONTENTS Page(s)
Chairman's
Report		 2-5
Trustees'
Report (Incorporating		 the Directors' Report) 6-16
Independent
Examiner's
Report		 to the Trustees ofThe Glaziers' Foundation 17
Statement of Financial Activities 18
Summary
Income and Expenditure		 Account 19
Balance Sheet 20
Notes to the Accounts 21-33

Mr. S.J.Graham Elected Trustee and Chairman Elected Trustee and Chairman
Mr, P.F.B.Beesley Elected Trustee and Deputy Chairman
Mr. B. E.Parsons Elected Trustee and Secretary
Mr. R. A. Bettinson Elected Trustee and Treasurer
Mrs. S. L.Galloway Ex-officio Trustee
Mr. M. N. Dalton Ex-officio Trustee
Eur ing P.J.Fortey Ex-officio Trustee
Col. D.W. Eking Elected Trustee (retired 20th April, 2020)
Mr. C. R. Freeman Co-opted Trustee (retired 20th April, 2020)
Mr. R.J.Holloway Co-opted Trustee
Mrs. V. Laster Elected Trustee (appointed 20th April, 2020)
Mr. C. M. L Osborne Elected Trustee (appointed 20th April, 2020)
Mr. N. D. Rees Co-opted Trus (retired 13th January 2020)
Mr. S.J.Shaw Elected Trustee
Mr. F.D.Small Co-opted Trustee (appointed 20th April, 2020)

Year ended 30.11.2020 Year ended 30.11.2020 30.11.2019
Unrestricted Endowment Restricted Total Total
Notes Funds Funds Funds Funds Funds
(note 12) (Note 17)
E E E
Income
Income from:
Voluntary income—
donations (incl. Gift Aid) 31,069 18,065 49,134 46,938
Investment income 120 33,194 33,314 36,807
Otherincome 15 8,332 8,332 14,090
Total income 31,189 59,591 90,780 97,835
~Ex enditure
Raising funds:
Investment
management		 fees (3,528) (3,528) (4,268)
Charitable
activities		 4 (31,189) (44415) (75,604) (88,198)
Total expenditure (31,189) (3,528) (44,415) (79,132) (92,466)
Net ex enditure
~yWd"		 incomefor
i		 the (3,528) 15,176 11,648 5,369
Transfers between funds 16 (5,514) 5,514
(Losses) / gains on investment assets (97,671) (97,671) 20,996
Net movement
in		 funds for the ar (106,713) 20,690 (86,023) 26,365
Total funds at beginning of pediod 778,485 27,039 805,524 779,159
Total funds at 30November 2020 f: E671,772 E47,729 E719,501 E805,524

Year ended Year ended
Notes 30.11.2020 30.11.2019
6 E
~Inc me
Income for year comprises:
Voluntary income —donations (Inc. Gift
Aid) 49,134 46,938
Investment income 3 33,314 36,807
Other income 15 8,332 14,090
Total income 90,780 97,835
~Ex enditure
Charitable
activities		 (75,604) (88,198)
Total expenditure (75,604) (88,198)
N I
1		 h E15,176 E9,637
BALANCE SHEET
AS AT 30November 2020
Note 30.11.20ZO 30.11.2019
E E E
Fixed assets
Tangible fixed assets
Investments		 651,327 750,776
651,327 750,776
Debtors 9 20,072 13,892
Cash held by investment
Cash at bank		 managers 2,970
78,352		 4,830
60,704
101,394 79,426
Creditors: amounts fallin due within one ear
Other creditors and accruais 10 (33,220) (24,678)
Net current assets 68,174 54,748
Total assets less current liabilities E719,501 E805,524
Funds
Unrestricted
funds		 13
Endowment
funds:
permanent 11 65,621 76,167
expendable 11 606,151 702,318
13 671,772 778,485
Restricted income funds 12,13 47,729 27,039
F719,501 E805,524
The directors
consider		 that the company is entitled
to		 exemption from the requirement
to have		 an audit under the
provisions
of s.477		 of the Companies Act 2006. Members have not required
the company,		 under s.476 of the Companies
Act 2006, to obtain an audit for the year ended 30 November 2020. The directors acknowledge their responsibility far
ensuring
that the company		 keeps accounting records to comply with s.386 of the Companies
Act		 2006, and for preparing
accounts which give a true and fair view ofthe state of affairs ofthe company as at 30 November 2020 and ofits result for
the year then ended in accordance with the requirements ofs.396,and which otherwise comply with the Act relating to the
accounts so far as applicable tothe company.

INVESTMENT INCOME
Yearended Year ended
30.11.2020 30.11.2019
Total Total
f f
Investment
income comprises:
Income from
UK listed		 investments 33,194 36,777
Bank and other interest 120 30
E33,314 E36,807
4. CHARITABLE EXPENDITURE
Charitable
expenditure		 compdises:
Year ended Year ended
30.11.2020 30.11.2019
Total Total
f f
Grants to institutions (see below) 34,500 28,950
Grants and donations to individuals (see below) 17,979 23,919
52,479 52,869
Support costs (see below) 23,125 35,329
675,604 E88,198
Grants to institutions
compdse:
Year ended Yearended
30.11.2020 30.11.2019
Total Total
E f
Stained glass restoration grants:
Holy Cross, Gilling East 1,000
St Wolfram,
Grantham		 500
St Michael, Munslow 2,000
StJohn, Broadstone 500
Stained Glass in Wales 2,000
All Saints, North Street, York 2,000 1,500
St Mary the Virgin, Knaresborough 2,000
St Michael & All Angels, Thornhill 2,000
Holy Trinity, Bradpole 500
StJohn the Baptist, Hughley 2,000
St Michael, Munslow (Moat Memoria I Award) 500
St Peter &St Paul, Algakirk 2,000
St Hugh, Quethiok 2,000
Burton Constable
Hall,		 Skirlaugh 2,750
St Matthew,
Hull		 1,000
Coventry Cathedral 2,000
15,000 11,250

Grants to institutions
(cont'd)
Year ended Year ended
30.11.2020 30.11.2019
Total Total
E E
Stained glass restoration
grants (cont'd)
Broughtforword 15,000 11,250
St Mary the Virgin, Speldhurst
St John' s, Howsham		 1,500
1,500
All Saints, Wighill 1,500
St Lawrence, Morden 1,500
Explore York Library S.Archives 1,500
St Peter Ik St Paul, Bradwell (1,000)
St Mary Magdalene,
Stockbury		 (1,000)
St Leonard, Marston Bigot (2,000)
15000 14750
Other grunts:
The Stained Glass Museum 3,500 3,500
University of York 2,500 2,500
Vidimus 2,500 2,500
Bntish Society of Master Glass Painters 3,000 3,000
'Visit Stained Glass" website 2,500
Army Cadet Force, Greater London, South East Sector 2,000 2,000
The Royal Hospital for Neuro-Disability 1,000
Rottingdean
Preservation
Society		 200
CVMA (500)
Royal College ofArt 2,500
The Draper's
Company
Livery Kitchen Initiative
London
Legal Support Trust (Lord Mayor's Appeal)		 500
500
Grants to individuals
compri		 s e:
Yearended Year ended
30.11.2020 30.11.2019
Total Total
6 E
Award for Excellence grants (1individual) (2019:1individual) 3,885 11,031
Ashton
Hill grants for development		 of skills towards practical careers (4
individuals)
(2019:3individuals)		 8,065 6,010
Stevens Competition
and other prizes		 5,529 6,878
CPD grants (1individual)
(2019:none)		 500
7
7
Support costs comprise:
Year ended Year ended
30.11.2020 30.11.2019
Total Total
E E
Prize-giving
and competition		 costs 2,335 5,351
New oars (The Cutter Trust Fund) 1,909
AHOY Lentre
—maintenance		 oft.utter equipment ( Ihe Cutter Trust Fund) 800
Subscriptions
(TTRA) (The Cutter Trust Fund)		 1,250 1,250
Storage and administrative costs (The Stained Glass Repository Fund) 8,040 13,485
Glaziers'
Library (The Edward		 Boydell Library Fund) 139 269 .
Events and other expenses ofthe Cutter Trust Fund (The Cutter Trust Fund) 275 636
Miscellaneous
expenses		 380 730
12,419 24,430
Governance
costs (see note		 5) 10,706 10,899

RNANCE COSTS
Yearended Year ended
30.11.2020 30.11.2019
Total Total
E E
Independent
examiners'		 fees:
independent examination 2,100 2,100
accountancy services 1,800 1,800
taxation services 1,740 600
Trustees' meeting expenses and management costs 5,066 6,399
E10,706 E10,899

Cutter
Equipment
E
Cost:
At 1December 2019 3,478
Additions
in year
At 30 November 2020 3,478
Depreciation:
At 1December 2019		 3,478
Charge for year
At 30November 2020 3,478
Net book value at 30November 2020
Net book value at 30November 2019

STMENTS STMENTS
Investments
are held primarily		 to provide an investment return forthe charity. Movements
in the		 year were
as follows;
Yearto Yearto
30.11.2020 30.11.2019
E E
Brought forward 1December 2019,at market value 750,776 735,589
Purchased during year 73,541 209,81Q
Disposals in year - proceeds (75,319) (215,619)
Net gains / (losses) on disposals during year (27,400) 1,878
Net gains / (losses) on revaluation ofinvestments (70,271) 19,118
Market value at 30 November 2020 E651,327 E750,776
Historic cost at 30 November 2020 F630,628 E691,923
Investments at market value comprise:
30112020 30112019
E E
UK listed investments 623,327 722,776
Unquoted investment 28,000 28,000
Market value at 30 November 2020 F651,327 f750,776
K lis ted inve stments
at 30 N		 ovem ber
2020were		 attributable
to the F		 oundation's
v		 arious funds, a s follows'.
30.11.2020 30.11.2020 30.11.2019 3Q.11.2019
Value of Value of
investment investment
s s
E E
The Glaziers' Trust Fund 18.20)S 113,446 17.16% 124,028
The Norman Ashton
Hill Memorial		 Fund 12.07N 75,236 12.07% 87,239
The Award for Excellence Fund 41.16N 256,561 41.16N 297,495
The Edward Boydell Library Fund 2.27N 14,149 2.27N 16,407
The Sigismund
Goetze Memorial		 Fund 1.04N 7,517
The Relief in Need Fund 10.42)S 64,951 10.42'/0 75,313
The Stained Glass Repository Fund 12,78N 79,661 12.78N 92,371
The Master Glazier's Fund 3.10% 19,323 3.10% 22,406
100.00SS E623,327 100.00SS E722,776

he following
listed investments
had a market value i
ovember
2020:		 n excess of 5%oof the total portf olio value as a t 30
30.11.2020 30.11.2020 30.11.2019 30.11.2019
E E
Temple Bar Investment
Trust 25p Ords		 n/a n/a 6.19o 43,840
Murray International
Trust 25p Ords		 6.0% 37,660 5.8% 42,070
NB Private Equity Class A Qrd. 7.6% 47,250 6.99o 50,175
Pnncess Private Equity 7.8% 48,372 5.8% 41,868
IOHCM Funds
UK Ltd Equity inc A GBP Dis.		 n/a n/a 6.7% 48,725
Maitland
Instl. SVI Ml Chelverton
UK Eq.		 5.0% 31,428 5.2% 37,735
Royal London
UTM UK Eq. Inc. M GBP Dis.		 n/a n/a 6.9% 49,740
HICL Infrastructure
0.01p Ords.		 5.59I 34,240 n/a n/a
Invest Fd Serv Ltd IFSLRAV HUN GBL BLCP 8 INC 5.3% 32,975 n/a n/a
Ninety One Fund Mgrs UK Equityome
I 2 GBP		 5.5% 34,554 n/a n/a

9. DEBTORS
30.11.2020 30.11.2019
E E
Income tax recoverable 16.501 6,665
Prepayments and accrued income 2,548 6,204
Other debtors 1,023 1,023
F20,072 E13,892
10. OTHER CREDITORS AND ACCRUALS
30.11.2020 30.11.2019
E E
Grant commitments 25,000 17,000
Other creditors and accruals 8,220 7,678
F33,220 E24,678
Grant commitments as at 30November 2020 comprised:
30.11.2020 30.11.2019
E
Commitments at 1December 2019 17,000 18,200
Grants and donations approved during the year 15,000 18,750
Grants previously
approved		 written back during the year (4,500)
Amounts
paid		 during the year (7,000) (15,450)
E25,000 E17,000

Year ended 30.11.20: Balance Transfers Investment Balance
b/fwd Outgoing between gains /(losses) c/fwd
01.12.19 resources funds 30.1120
Permanent endowment fund;
The Relief in Need Fund 76,167 (368) (10,178) 65,621
Expendable endowment funds:
the Glaziers' Trust Fund 230,985 (605) (16,760) 213,620
The Norman Ashton
Hill Memorial		 Fund 56,657 (426) (11,789) 44,442
The Award for Excellence Fund 268,918 (1,452) (40,201) 227,265
The Edward Boydell Library Fund 16,463 (80) - {2,217) 14,166
The Sigismund
Goetze Memorial		 Fund 6,567 (37) (5,514) (1,016)
The Stained Glass Repository Fund 92,835 (451) - (12,482) 79,902
The Cutter Trust Fund 7,272 7,272
The Master Glazier's
Fund		 22 621 (109) (3,028) 19484
702,318 (3,160) (5,514) (87,493) 606,151
f778,485 (E3,528) (E5,514) (f97,671) f671,772
Year ended 30.11.19: Balance Transfers Investment Balance
b/fwd Outgoing between gains / (losses) c/fwd
01.12.18 resources funds 30.11.19
Permanent endowment fund:
The Relief in Need Fund 74,424 (445) 2,188 76,167
Expendable endowment funds:
The Glaziers' Trust Fund 228,114 (732) 3,603 230,985
The Norman Ashton
Hill		 Memorial Fund 54,638 (515) 2,534 56,657
The Award for Excellence Fund 262,033 (1,757) 8,642 268,918
The Edward Boydell Library Fund 16,083 (97) 477 16,463
The Sigismund
Goetze Memorial		 Fund 6,394 (45) 218 6,567
The Stained Glass Repository Fund 90,697 (545) 2,683 92,835
The Cutter Trust Fund 7,272 7,272
The Master Glazieds
Fund		 22,102 (132) 651 22,621
687,333 (3,823) 18,808 702,318
E761,757 (E4,268) E- E20,996 E778,485

Year ended 30.11.20: Balance Tranfers Balance
b/fwd Incoming between Outgoing c/fwd
01.12.19 resources funds resources 30.11.20
f E f f
The Glaziers' Trust Fund (49,604) 10,965 (13,493) (52,132)
The Norman
Ashton
Hill Memorial		 Fund (5,476) 4,007 (3,065) (4.534)
The Award for Excellence Fund 13,128 13,663 (3,885) 22,906
The Edward
Boydell Library		 Fund 3,207 754 (139) 3,822
The Sigismund 6oetze Memorial Fund 409 345 5,514 (6,268)
The Relief in Need Fund 15,011 3,458 (3,500) 14,969
The Stained Glass Repository Fund 39,414 19,010 (8,040) 50,384
The Cutter Trust Fund 1,784 2,610 (1,525) 2,869
The Master Glazier's
Fund		 9,166 4 779 (4,500) 9,445
E27,039 f59 591 f5,514 (E44,415) E47 729
Year ended 30.11.19: Balance Tranfers Balance
b/fwd Incoming between Outgoing c/fwd
01.12.18 resources funds resources 30.11.19
f f f f
The Glaziers' Trust Fund (38,368) 11,834 (23,070) (49,604)
The Norman
Ashton
Hill Memorial		 Fund (3,905) 4,439 (6,010) (5,476)
The Award for Excellence Fund 9,022 15,137 (11,031) 13,128
The Edward
Boydell Library		 Fund 2,641 835 (269) 3,207
The Sigismund
Goetze Memorial		 Fund 26 383 409
The Relief in Need Fund 11,179 3,832 15,011
The Stained Glass Repository Fund 32,744 20,371 (13,701) 39,414
The Cutter Trust Fund 212 6,167 (4,595} 1,784
The Master Glazier's
Fund		 3,851 8,515 (3,200) 9,166
E17,402 671,513 (661,876) f27,039

The charity's net assets belonging toth e various funds as at 30Novemb er
2020 were		 as follows:
Net current
Fixed assets Investments assets 7 Fund
E E 6
Unrestricted Funds
Endowment Funds 651,327 20,445 671,772
Restricted Funds 47,729 47,729
E- 6651,327 E68,174 F719,501
At 30.11.2019
Unrestricted Funds
Endowment Funds 750,776 27,709 778,485
Restricted Funds 27,039 27,039
E- E750,776 654,748 6805,524

Year ended 30.11.2019 Year ended 30.11.2019
Unrestricted Endowment Restricted Total
Notes Funds Funds Funds Funds
(note 12)
E E
Income
Income from:
Voluntary income-
donations (incl. Gift Aid) 26,292 20,646 46,938
Investment income 30 36,777 36,807
Otherincome 15 14,090 14,090
Total income 26,322 71,513 97,835
~Ex enditure
Raising funds:
Investment
management		 fees (4,268) (4,268)
Charitable
activities		 4 (26,322) (61,876) (88,198)
Total expenditure (26,322) (4,268) (61,876) (92,466)
Net ex enditure incomefor the
S 1
h		 (4,268) 9,637 5,369
Losses on investment assets 20,996 20,996
Net movement
in funds		 for the ear 16,728 9,637 26,365
Total funds at beginning ofperiod 761,757 17,402 779,159
Total funds at30November 2019 E- 6778,485 627,039 F805,524