2023-11-30-accounts - The Glaziers Foundation

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

CONTENTS			Page(s)
Chairman's Report			2-6
Trustees' Report (Incorporating	the	Directors' Report)	7-17
Independent Examiner's Report	to	the Trustees ofThe Glaziers' Foundation	18
Statement ofFinancialActtvlties			19
Summary Income and Expenditure		Account	20
Balance Sheet			21
Notes tothe Accounts			22 —34

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	(retired 12	June 2023)
Mr. A.TAplin	Elected Trustee and Secretary	(appointed	12June 2023)
Mr. R.A. Bettinson	Elected Trustee and Treasurer
Mr. D, L.B.Stringer-Lamarre	Ex-officio Trustee (retired 30	November 2023)
Mr. C, M. L.Osborne	Ex-officio Trustee
Mr.J.Reyntiens	Ex-officio Trustee
Mr. T,J.McNally	Ex-officio Trustee (appointed	1December	2023)
Mr. IVI. N. Dalton	Elected Trustee
Mr. R.J.Holloway	Co-opted Trustee (retired 12	June 2023)
Mr. A. R. Lane	Co-opted Trustee
Mrs. V.Laster	Elected Trustee
Ivlr. 3,J.Shaw	Elected Trustee (retired 12June 2023)
IVIr. F, D.Small	Co-opted Trustee
Mr.T.M. Wright	Elected Trustee (appointed 12June 2023)

								Year
					Year ended	30.11.2023		ended 30.11.2022
			Notes	Unrestricted	Endowment Funds	Restricted Funds	Total Funds	1otal Funds
				f	E	(Nate 12) E		(Nate 17)f
~cm
Income and endowments	from:
Voluntary income—
donations (incl. Gift Aid		and
legacies) Investment income				40,7DD 4,304	2,000	18,043 33,750	60,743 38,054	39,926 35,431
Grant and other income			15				894	17,182
Total				45,D04	2,00D	52,687	99,691	92,539
Raising funds:
Investment management	fees				(3,971)	(224)	(4,195)	(4,453)
Charitable activities			4	(6,667)		(67,324)	(73,991)	(81,123)
Total expenditure				6,667)	(3,971	(67,548)	(78,186)	(85,S76)
Ne Income x enditure	far the
ear befor other ins			6	38,337	(1,971)	(14,861)	21,505	6,963
Transfers between funds			16	(38,337)		38,337
(Losses) on Investment assets					(43,641)	(2,462)	(46,1D3)	(49,839)
Net movement in funds for the		ear			(45,612)	21,014	(24,598)	(42,876)
Total funds at beginning ofperiod					732,947	88,377	821,324	864,200
T I dsa Novern	er2 2				f687,335	E109,391	f796,726	f821324

				Year ended	Year ended
			itotes	30.11.2023	30.11.2022
					6
Income
Income for year comprises:
Voluntary	Income —donations	(Inc. Gift
Aid and legacies) Investment income Grant and other income			3 15	58,743 38,054 894	39,926 35,431 17,182
Total Income				97,691	92,539
~F» dlt
Raising funds (Income funds) Charitable activities				(224) (73,991)	(238) (81,123)
Total expendhure				(74,215)	(81,361)
Net sur lusfor the	ear			623,476	611,178

ESTMENT IAICOME
		Year ended	Year ended
		30.11.2023	30,11.2022
Investment Income comprises:		Totai f	TOtal E
Income from UK listed investments Bankand other interest		33,750 4,304	35,240 191
		f38,054	f35/31
RITABLE EXPENDITURE
Charitable expenditure comprises:		Yearended	Year ended
		30.11.2023	30.11.2022
		Totalf	Totalf
Grants to institutions (see below) Grants and donations to individuals	(see below)	23,750 20,197	25,610 23,877
		43,947	49,487
Support costs (see below)		30,044	31636
Grants to Institutions comprise:		f73,991	f81,123
		Year ended	Year ended
		30.11.2023	30.11.2022
Stained glass restoration grants:		TOtalf	Totalf
St Mary the Virgin, Ivinghoe All Saints, Slingsby St Matthew, Crediton St !Mary the Virgin, North IVIymrns Park St Mary, Ddfflefd St Mary, Temple Gulting StJohn the Baptist, Keyston StPeter, Halliweli St Mary the Virgin, Stopham St Mary the Virgin, Woodkirk		750 750 750 500 1,500 2,250 500 1,750 500
St Mary's Church, North Tuddenham			2,000
StThomas &St Luke, Dudley St Matthew, Morley			2,250 3,500
Coventry Cathedral			2,000
			(2,000)
Carrledforward
		9,250	7,750

			(Charity number	: 1143700)
NDTES TO	THE ACCOUNTS (continued)
FOR THE YEAR ENDED 30NOVEMBER 2023
4.	CHARITABLE EXPENDITURE (canYd)
	Grants to institutions (cont'd)
			Year ended	Year ended
			30.11.2023	30.11.2022
			Totai	Total
			E	E
	Stained glass restoration grants (conr'd)
	Broaghtforward		9,2SO	7,75D
	Other grants:
	The Stained Glass Museum University ofYork		3,500 3,000	3,500 3,000
	Vidimus		2,500	2,500
	British Society ofMaster Glass Painters		3,5DO	3,500
	Disasters Emergency CommIttee —Ukraine Appeal Southwa rk Cathedra I((he Master Glaziers' Fund) Southwark Cathedral (Unrestricted Funds) "Visit Stained Glass" website (The Master Glaziers'	Fund)	1,0DO 1,000	5,ODD 36D
	Grants to individuals comprise:
			Year ended	Year ended
			30.11.2023	30.11.2022
			Total	Tatal
			E	E
	Lever Awards (2 Individuals) (2022:1individual) Ashton Hill grants for development ofskills towards individual) (2022:3individuals) Stevens Competibon and other prizes Relief In Need grant (1Individual) (2D22: none)	practical careers (1	12,276 (129) 5,550 2,500	3,248 15,193 5.431

Support costs comprise:
			Year ended	Yaarended
			30.11.2023	30.11.2022
			Total	Total
			E	E
Prize-giving and competition costs Subscriptlons (TTRA) (The Cutter Trust Fund) Storage and administrative costs (The Stained Glass Repository Fund) Glaziers' Library (The Edward Boydell Library Fund) Glaziers Education Partnership pro)ects and tours (Glaziers' Education			2,639 1,500 7,089	3,963 1,250 8,662 150
Partnership Fund) Events and otherexpenses Miscellaneous expenses	ofthe Cutter Trust Fund (The Cutter	Trust Fund)	7,232 917 60	6,959 960
			19,437	21,944
Governance costs (see note	5)		10.607	9,692

NANCE	COSTS
			Year encled	Year ended
			30.11.2023	30.11.2022
			Total	Total
			E	E
Independent examiners' fees:
Trustees'	independent examination accountancy services taxation services (2023:including corporation meeting expenses and management costs	tax work)	2,205 1,890 930 5,582	2,100 1,800 600 5,192
			610,607	69,692

			Cutter
			Equipment
			E
Cost:
At 1December 2022			3,478
Additions in year
At 30November	2023		3,478
Depredation:
At1December 2022 Charge foryear			3,478
At 30November	2023		3,478
Net book value at 30November		2023
Net book value at 30November		2022

Investments are held primarily as follows:	to provide an investment return for th	e charity. Movements in the	year were
		Yearto	Yearto
		30.11.2023	30.11.2022
		E
Brought forward 1December 2022, at market value Purchased during year Shares received by way ofgift Disposals In year —proceeds Net (losses) / gains on disposals during year Net (losses) / gains on revaluation ofinvestments		751,831 32,440 2,000 (38,849) (907) (45,196)	805,322 29,412 (33,064) 1,777 (51,616)
IVlarket value at 30November	2023	8701319	6751831
Histodc cost at30November	2023	6699,703	6711,451
Investments at market value comprise:
		30.11.2023	30.11.2022
		E	E
UK listed Investments Unquoted investment		671,319 30,000	723,831 28,000
IViarket value at 30November	2023	5701,319	6751,831

		30.11,2023	30.11.2023	3D.11.2022	30.11.2022
			E		E
AEW UK REITpic Royal London UTM UK Temple Bar Investment NB Private Equity Class Princess Private Equity Gresham House Energy Invest Fd Serv Ltd IFSL Ninety One Fund N!grs	Equity Inc M GBP Dis Nav Trust 25p Ords A Ord. 1p Ords. RAV HUN GBL BLCP8 INC UK Equityome I 2GBP	5.0% 5.4% 5 5% 5.7% 5.8% n/a 5.8% n/a	33,705 36,553 36,640 38,180 39,099 n/a 38,900 n/a	n/a 5.1% 5.1% 5.0% 5.1% 5.4% 5.0% 5.1'%	n/a 36,756 36,880 36,340 36,654 38,775 36,275 36,637

				30.11.2023	30.11.2022
				f	f
Grant cammitments				21,750	21,250
Other creditors	and accruais			16,269	19,663
				E38,019	f40,913
Grant cammitrnents		asat30November	2023 comprised:
				30.11.20Z3	30.11.2022
				f	E
Commitments at 1December 2022 Grants and donations approved during the year (net)				21,250 9,250	22,000 9,750
Grants previously approved written Amounts paid during the year			back during the year	(8,750)	(2,000) (8,500)
				f21,750	f21,250

Year ended 30.11.23;		Balance	Gifted	Investment	Investnlent	Bolance
		b/fwd 01.12.72 E	shares received	management fees E	gains/ (lasses)f	c/fwd 30.11,23f
permanent endowment fund:
The Relief in Need Fund		70,994		408	(4,481)	66,105
Expendable endowment funds:
The Glaziers' Trust Fund The Lever and Ashton Hill Awards The Edward Boydell Library Fund The Stained Glass Repository Fund The Cutter Trust Fund The Master Glazier's Fund	Fund	232,629 299,147 15,336 86,489 7,272 21,080	2,000	(769) (2,084) (89) (500) 121)	(8,446) (22,899) (977) (5,501) (1,337	225,414 274,164 14,270 80,488 7,272 19,622
		661,953	2,000	(3,563)	39,160)	621,230
		f732,947	f2,000	(f3,971)	(f43,641)	f687,335

Year ended 30.11,22:		Balance	Investment	Investment	Merger of	Balance
		b/fwd D1.12.21	management fees	galas/ (losses)	Funds as at 30.11,22	c/fwd 30.11.22
			f	f
permanent endowment fund:
The Relief in Heed Fund Expendable endowment funds:		76,271	(433)	(4,844)		70,994
The Glaziers' Trust Fund The Norman Ashton Hill lvlernorial Fund The Lever Award Fund (formerly Award		242,576 56,778	(816) (501)	(9,131) (5,612)	(50,665)	232,629
for Excellence Fund) The Lever and Ashton Hill Awards The Edward Boydell Library Fund The Stained Glass Repository Fund The Cutter Trust Fund The Master Glazier's Fund	Fund	269,336 16,487 92,966 7,272 22,655 708,070	(1,710) (95) (531) (129) (3,782)	(19,144) (1,056) (5,946) (1,446) (42,335)	(248,482) 299,147	299,147 15,336 86,489 7,272 21,080 661,953
		7843 1	4 215	f47 179	E-	f732 947

Year ended 30.11.23r
					Transfers
	Balance b/fwd 01.12.22	Income	Expenditure	lmrestment (Losses)	Between Funds (')	Balance c/fwd 30.11.23
The Glaziers' Trust Fund The Lever and Ashton Hill Awards	E (53,925)	E 15,450	(34,939)	E	35,837»	E (37,577)
Fund The Edward Boydeg Library Fund The Relief in Need Fund The Stained Glass Repository Fund The Cutter Trust Fund The Glaziers' Education Partnership Tihe Master Glazier's Fund	33,629 4,916 17,848 69,729 4,547 3.221 8412 E88,377	16,764 715 3,281 11,844 1,529 1,625 1479 f52,687	(12,147) (2,5DD) (7,313) (2,417) (7,232) (1,000) (f67,548)	(2,462) (E2,462)	2500" E38,337	38,246 5,631 18,629 71,798 3,659 114 8,891 6109,391

					Net current
			Fixed assets	Investments	assets /	Fund
				E
Unrestricted		Funds
Endowment Restricted	Funds Funds			665,471 35,848	21,864 75,543	687,335 109,391
At 30.11.2D22:				f101,319	f95,407	f796,726
Unrestricted		Funds
Endowment Restricted	Funds Funds			713,178 38,653	19,769 49,724	732,947 88,377
				E751,831	E69,493	E821.324

						Year ended	30.11.2022
				Notes	Unrestricted Funds	Endowment Funds	Restricted Funds	Total Funds
					f	f	(Note 12) E
Income
Income from:
Voluntary incame-
donations (incl. GIRAid)					26,208		13,718	39,926
Investment income					191		35,240	35,431
Other income				15			17,182	17,182
Total Income					26,399		66,140	92,539
m di«
Raising funds:
Investment management		fees				(4,215)	(238)	(4/453)
Charitable activities				4	(9,692)		(71,431)	(81,123)
Total expenditure					(9,692)	(4,215)	(71,669)	(85,576)
Net Income ex endlture		for the
ear before ether aine				6	16,707	(4,215)	(5,529)	6,963
Transfer between funds				16	(16,707)		16,707
(lasses) on Investment	assets					(47.179)	(2,660)	(49,839)
Net movement In funds	forthe		ear			(51,394)	8,518	(42,876)
Total funds at beginning	of	periad				784,341	79,858	864,200
Total funds at 30November		2022			E-	f732,947	E88377	f821,324