|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|