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2022-11-30-accounts

CONTENTS Page(s)
Chairman's
Report		 2-6
Trustees'
Report (Incorporating		 the Directors' Report) 7-1S
Independent
Examiner's		 Report to the Trustees ofThe Glaziers' Foundation 16
Statement ofFinancial Activities 17
Summary
Income and Expenditure		 Account 18
Bala nceSheet 19
Notes to the Accounts 20 —32

The Trustees, who are also Directors ofthe charitable
company,		 who served during the year and subsequently,
Mr. S.J.Graham Elected Trustee and Chairman
Mr. P.F.B.Beesley Elected Trustee and Deputy Chairman
Mr. M. C.Wilson Elected Trustee and Secretary
Mr. R.A. Bettinson Elected Trustee and Treasurer
Eur Ing P.J.Fortey Ex-officio Trustee (retired 30 November 2022)
Mr. IJ. L. u. Strtnger-Lamarre cx-omcio trustee
Mr. C. M. LOsborne Ex-officio Trustee
Mr. J.Reyntiens Ex-officio Trustee (appointed 1December 2022)
Mr. M. N. Dalton Co-opted Trustee
Mr. R.J.Holloway Co-opted Trustee
Mrs. V. Lester ciecteo trustee
Mr. A. Rogers Co-opted Trustee (retired 20 June 2022)
Mr. S.J.Shaw Elected Trustee
Mr. F.D.Small Co-opted Trustee

OR THE YEAR E NDE D 30N OVE MB ER 2 022
Year
Year ended 30.11.2022 ended
30.11.2021
Unrestricted Endowment Restricted Total Total
Notes Funds Funds Funds Funrls Fuflds
(Note 12)f (Note 17)
f
iInncrnmg
Income from:
Voluntary income—
donations (incl. Gift Aid) 26,208 13,718 39,926 63,679
Investment income 191 35,240 35,431 29,083
Other income 15 17,182 17,182 8,976
iuto I mt.unle 26,399 oo c1U oc osv 101,/3o
Ch
Raising funds:
Investment
management		 fees (4,215) (238) (4,453) (4,333)
Charitable
activities		 4 (9,692) (71,431) (81,123) (61,018)
Total expenditure (9,692) (4,215) (71,669) (85,576) (65,351)
Net income nditure for the
vaor hofnro Other earns lr 7n7 Ia 71m IC Cscl'I 36387
Transfers
between		 funds 16 (16,707) 16,707
(Losses) / gains on investment assets (47,179) (2,660) (49,839) 108,312
Net movement infundsfor the ear (51,394) 8,518 (42,876) 144,699
Total funds at beginning of period 784,341 79,859 864,200 719,501
Total fund
at		 30November2022 f- f732,947 f88,377 f821,324 f864,200

Year ended Year ended
~v.ii.cvcc 30.11.ZOZi
E E
Income
Income for year comprises:
Voluntary income —donations (Inc. Gift
Aid) 39,926 53,679
Investment income 3 35,431 29,083
Other income 15 17,182 8,976
Total income 92,539 91,738
Ch
Raising funds (income funds) (238) (103)
Charitable
activities		 (81,123) (61,018)
T 0
I		 An (81 361) I61 171)
Net sur lusfor the ear F11,178 630,617

STMENT INCOME
Year ended Year ended
30.11.2022 30.11.2021
Total Total
Investment
income comprises:		 E E
Income from
UK listed investments		 35,240 29,076
Bank and other interest 191 7
E35,431 E29,083
RITABLE EXPENDITURE
Charitable
expenditure		 comprises: Year ended Year ended
30.11.2022 30.11.2021
Total Total
E E
Ic c1n an ncn
Grants and donations to individuals (see below) 23,877 9,401
49,487 40,161
Support costs (see below) 31,636 20,857
E81.123 E61.018
Grants to institutions comprise:
Year ended Year ended
30.11.2022 30.11.2021
Total Total
E E
SrninI d nin11 rs rrnmrinn nrnnrr
St Mary the Virgin, Woodkirk 2,000
St Mary's Church,
North		 Tuddenham 2,250
St Thomas
&St Luke,		 Dudley 3,500
St Matthew,
Morley		 2,000
Browne's
Hospital, Stamford		 2,500
Great Malvern
Priory		 4,000
St Margaret ofAntioch, Barley 1,500
St Neot, Liskeard 3,000
St Thomas, Thurstonland 1,500
Coventry
Cathedral		 (2,000)
St Peter &StThomas a Becket, Stambourne (1,000)
St Michael,
Hernhill		 (1,000)
St Peter &St Paul, Algakirk (2,000)
Carried forward 7,750 8,500

Grants to institutions (cont'd)
Year ended Year ended
30.11.2022 30.11.2021
Total Total
E E
Stained glass restoration
grants		 (cont'dl
Broughtforward 7,750 8,500
Other gronts:
The Stained Glass Museum 3,500 3,500
University
ofYork		 3,000 3,000
Vidimus 2,500 2,500
British Society ofMaster Glass Painters 3,500 3,000
British Society ofMaster Glass Painters —Travelling Exhibition 1,500
Disasters Emergency Committee —Ukraine Appeal 5,000
"Visit Stained Glass" website (The Master Glaziers' Fund) 360 3,260
Army Cadet Force, Greater London, South East Sector 2,000
Roya I College ofArt 2,500
The Draper's
Company
Livery		 Kitchen Initiative 1,000

Year ended Year ended
30.11.2022 30.11.2021
Total Total
E E
In'
r Awarrlc l1 inrlivrrfnal)		 (nnnel lzn71. nnnel
Ashton
Hill		 grants for development ofskills towards practical careers (3
individuals) (2021' 2 individuals) 15,198 4,601
Stevens Competition
and		 other prizes 5,431 4,800

Support costs comprise:
Year ended Year ended
30.11.2022 30.11.2021
Total Total
E E
Prize-giving and competition costs 3,963 1,591
Subscriptions (TTRA) (The Cutter Trust Fund) 1,250
Storage and administrative costs (The Stained Glass Repository Fund) 8,662 8,664
Glaziers'
Library (The Edward		 8oydell Library Fund) 150 147
"WeSee You" Project and VgrA tour costs (Glaziers' Educational Partnership
Fund) 6,959
Events and other expenses ofthe Cutter Trust Fund (The Cutter Trust Fund) 960
Miscellaneous
expenses		 605
21,944 11,007
Governance costs (see note 5) 9,692 9,850
E3 636 0
7

NANCE
 COSTS
Year ended Year ended
30.11.2022 30.11.2021
Total Total
E E
Independent
examiners'		 fees;
independent examination 2,100 2,100
accountancy services 1,800 1,800
taxation services 600 900
Trustees' meeting expenses and management costs 5,192 5,050
E9,692 E9,850

Cutter
Equipment
E
Cost:
At 1December 2021 3,478
Additions
in year
At 30 November 2022 3,478
Depreciation:
At 1 December 2021 3,478
Charge for year
At 30 November 2022 3,478
Net book value at 30November 2022
Net book value at 30 November 2021

vestments
follows:		 are held primarily t o pr ovide
an investment
return for th		 e charity. Movements
in the		 year were
Yearto Yearto
30.11.2022 30.11.2021
E E
Brought forward 1December 2021,at market value 805,322 651,327
Purchased during year 29,412 199,399
Capital distributions
received		 during the year (11,500)
Disposals in year - proceeds (33,064) (142,215)
Net gains /(losses)
on disposals		 during year 1,777 23,350
Net (losses) / gains on revaluation of investments (51,616) 84,961
Market value at 30 November 2022 6751,831 6805,322
Historic cost at 30 November 2022 6711,451 E711,779
vestments at market value comprise:
30.11.2022 30.11.2021
E E
UK listed investments 723,831 777,322
Unquoted investment 28,000 28,000
Market value at 30 November 2022 E751,831 6805,322

list ed inves tments
at 30 No		 vember 2022 were attributable
to the		 Foundation's
v		 arious funds, a s follows:
30.11.2022 30.11.2022 30.11.2021 30.11.2021
Value of
investment		 Value of
t
eats
The Glaziers' Trust Fund 18.32% 132,606 18.32% 142,405
The Norman Ashton
Hill Memorial		 Fund 11.26% 81,503 11.26% 87,526
The Award for Excellence Fund 38.41% 278,023 3841% 298,570
The Edward Boydell Library Fund 2.12% 15,346 2.12% 16,479
The Relief in Need Fund 9.72% 70,356 972% 75,556
The Stained Glass Repository Fund 17.27% 125,006 1727% 134,244
The Master Glazier's
Fund		 2 90% 20,991 2 90% 22,542
10000vii F723831 10000% 6777,322
e following
listed invest
vember
2022:		 ments
had a m		 arket value
in		 excess of5%oft he total portfol io value as at 30
30.11.2022 30.11.2022 30.11.2021 30.11.2021
f f
Royal London
UTM UK		 Equity Inc M GBP Dis Nav 5.1% 36,756 6 1% 47,448
Temple Bar Investment Trust 25p Ords 5.1% 36,880 n/a n/a
NB Private
Equity Class		 A Ord. 5.0% 36.340 5 2% 40,480
Princess Private
Equity		 5.1% 36,654 6.9% 53,582
Gresham
House Energy		 1p Ords. 5.4% 38,775 n/a n/a
Invest Fd Serv Ltd IFSL RAV HUN GBL BLCP 8 INC 5.0% 36,275 n/a n/a
Ninety One Fund Mgrs UK Equityome 12 GBP 5 1% 36,637 n/a n/a

30.11.2022 30.11.2021
E E
Income tax recoverable 6,439 8,730
Prepayments and accrued income 3,180 8,053
Other debtors 1,079 2,054
E10,698 E18,837

30.11.2022 30.11.2021
E E
Grant commitments 21,250 22,000
Other creditors and accruals 19,663 7,978
E40,913 E29,978
30.11.2022 30.11.2021
E E
Commitments
at 1December		 2021 22,000 25,000
Grants and donations approved during the year (net) 9,750 12,500
f ~ r
nrovin&
I		 ea ~irre h I a r rho r2 nnm rn nnn)
Amounts
paid during		 the year (8,500) (11,500)
E21,250 E22,000
ME NT
FUNDS
Year ended 30.11.22: Balance Investment Investment Merger of Balance
b/fwd management gains/ Funds asat c/fwd
01.12.21 fees (losses) 30.11.22 30.11.22
E E E E E
Permanent
endowment		 fund:
The Relief in Need Fund 76,271 (433) (4,844) 70,994
Expendable
endowment		 funds:
The Glaziers' Trust Fund 242,576 (816) (9,131) 232,629
The Norman
Ashton		 Hill Memorial
Fund 56,778 (501) (5,612) (50,665)
The Lever Award
Fund		 (formerly Award
for Excellence Fund) 269,336 (1,710) (19,144) (248,482)
The Lever and Ashton Hill Awards Fund 299,147 299,147
The Edward Boydell Library Fund 16,487 (95) (1,056) 15,336
The Stained Glass Repository Fund 92,966 (531) (5,946) 86,489
The Cutter Trust Fund 7,272 7,272
The Master Glazier's Fund 22,655 (129) (1,446) 21,080
708,070 (3,782) (42,335) 661,953
F784,341 (E4,215) (E47,179) E- 6732,947

Year ended 30.11.21: Balance Investment Balance
b/fwd Inconllng management Investment c/fwd
01.12.20 resources fees gains 30.11.21
Permanent endowment fund:
The Relief in Need Fund 65,621 (438) 11,088 76,271
Expendable endowment funds:
The Glaziers' Trust Fund 213,620 10,000 (791) 19,747 242,576
The Norman Ashton
Hill		 Memorial Fund 44,442 (508) 12,844 56,778
The Award for Excellence Fund 227,265 (1,731) 43,802 269,336
The Edward Boydell Library Fund 14,166 (95) 2,416 16,487
The Sigismund
Goetze Memorial		 Fund 79,902 (537) 13,601 92,966
The Stained Glass Repository Fund 7,272 7,272
The Cutter Trust Fund 19,484 (130) 3,301 22,655
The Master Glazier's
Fund		 606,151 10,000 (3,792) 95,711 708,070
E671772 E10000 E4 230 E106799 E784 341

Year ended 30.11.22:
Balance Between Balance
b/fwd income Expenditure Investment Funds (v)/ c/fwd
01.12.21 (Losses) Merger of 30.11.22
Funds as at
30.11.22
E E E E E
The Glaziers' Trust Fund (48,050) 12,062 (34,644) 16,707" (53,925)
The Norman Ashton
Hill		 Memorial
Fund 3,968 (15,198) 11,230
The Lever Award
Fund		 (formerly
The Award for Excellence Fund) 34,571 13,536 (3,248) (44,859)
The Lever and Ashton Hill Awards
Fund 33,629 33,629
The Edward Boydell Library Fund 4,319 747 (150) 4,916
The Relief in Need Fund 14,423 3,425 17,848
The Stained Glass Repository Fund 62,995 18,294 (8,900) (2,660) 69,729
The Cutter Trust Fund 4,663 2,094 (2,210) 4,547
The Glaziers' Education Partnership 10,180 (6,959) 3,221
Ihe IvlasleI GlazIeI s Funo D DDD z Doe lsoui D,erz
E79,859 E66,140 (E71,669) (E2,660) E16,707 E88,377

Net current
Fixed assets Investments assets/ Fund
E E E
Unrestricted Funds
Endowment Funds 713,178 19,769 732,947
Restricted Funds 38,653 49,724 88,377
E- 6751,831 669,493 6821,324
At 30.11.2021:
Unrestricted Funds
Endowment Funds 763,813 20,528 784,341
Restricted Funds 41,509 38,350 79,859
E- 6805,322 658,878 6864,200

Year ended 30.11.2021 30.11.2021
Unrestricted Endowment Restricted Total
Notes Funds Funds Funds Funds
(Note 12)
E
Income
Income from:
Vole
r 1ldw		 nit.oleo
donations (incl. Gift Aid) 35,635 10,000 18,044 63,679
Investment income 7 29,076 29,083
Other income 15 26 8,950 8,976
total income 35,668 10,000 56,070 101,738
w d
Raising funds:
Investment
management		 fees (4,230) (103) (4,333)
Charitable
activities		 4 (6,955) (54,063) (61,018)
Total expenditure (6,955) (4,230) (54,166) (65,351)
Net incomefor the ear before
~other ains 6 28,713 5,770 1,904 36,387
Transfer between
funds		 16 (28,713) 28,713
Gains on investment assets 106,799 1,513 108,312
Net movement in funds for the ear 112,569 32,130 144,699
Total funds at beginning of period 671,772 47,729 719,501
Total funds at 30November 2021 f- f784,341 f79,859 f864,200
There were no other recognised gains or losses other than the net incoming resources included above. There were
no discontinued activities during the year.