##
|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|