ThE GLAZIERS. FOUNDAIION Icompanynumber: 077379341 ltharlty number 11437001 Company No: 07737934 (haiity No.. 11437 THE GLAZIERS. FOUNDATION Acompafty L5nled by Guararltee (Régistered thartty Pio. 114371JO) REPORT AND FINAN(IAiSTATEMEMrs FOR THE YEPA ENDED 30 NOVEMBER 2025 Leon¥d Jon25 & C• arttied AccC4Jntts I Printin8 HouseY¥d
THE G1I21ERS' FOUNDAIION Icompahy number: 077379341 ICh•rlty number. 11437ixil coTrtrENTS ChairmaTh'5 Report Tvustees. Repott Iln<orporatire the DirefioT< Reportl 3-12 Independent EKarninerfs Report to theTrusteesolThe Glazier< Fwndatiott 13 Statement of Financlal Atlmties 14 Summary Incomeond ExpendilvreAccount Balance Sheet 16 Note5 to the A¢¢0 17-29
ThE 6iNZIERY FOUNDATION (Company number= 077379341 IChrity number 114374JOI CHAIRMAN'S REPORT Whilst Shortage of funds and impwving support from the INery continue to be issues. the Trustees have decKled on whi¢h aa$ the Charity should toncentrate its 51JPPOrt. As vrd5 predicted twelve months aso. theworkofthe Edutat•Jn andTralfjinRCommittee has becomethe majorfocusof activity and this has already had an encouraging impacton external frjndraising. The ETCS shepherdln8 of thè attnual awards Is reSu1ng in increased interest in all of them. The winners of the K%hton Hill Work Placement Award, the Leverwork PlacementAward.the Professional DeveIopffnt Award and the George & Evetyn Gee Award5 We all announced at the end of 2025. The winner of tho new 8ustness DevelopmentAward was announced irs March of this year. The Stained Glass Repositorfs work¢ontin5. bui as the Stsined glassworld changes it ts anticipated that there will have to be some refocusin8 of the SGR'S intent)ns soon. In January 2025 the Trustees feviewed the Chorrvs iTh¥estrnent a01¢e and appointed CCLA Investment ManagemenL Since the apwntment there ha5 not been a marked improvement In performance, atthough income is holdir4e up. There will be another regular meetin8 Wsth CCLA ITh January 2027 and in January 2028 Ihere is liketyto be anotherfull revh?w. It hoped that bythen t uncertainlÉes contributing to their CeTrt poor perfomance will have reduced. Using the work of the Efc the ftew Fundraising Committee has F*en ab to identify several possible Sources of funds for the Charitrf5 work in North Amersca. with the help of the Trustees a refined oposol 15 being worked on. This is a very encouraging devehjpment a5 a fiow of fund5from the L15 would be most welcome aAd COU transform the workof thè Charlty. The Glaziers. Trust continues to dispense restoration grants that have already been agreed on completion of the work. These are reducing a5 time goes on a5 no new Rrnnts are currentty being awarded. Consider3tlon Is lThg Eiven 35 to how a futureconse¥Vatn award or supportscherne ml8ht be alignedwff(hc0rtservatn edtJ¢ation and traiAbn&given thètharitysemphasi5 on supportin8 and prornotln8 education and training. and the S remlt. Havin£ taken legal advice. theTtee5 are approachingthe Charitycommtssion. through ourlwyers. to enable us to lift the restri¢tions on as many of our fijnds a5 wsslble. This would give the Charity the much needed flexibility lo channel the money in the directions It is needed the Most. The Worshipful Companvs Cutter. The Masler Glazier. is the re5wnsibllity of the Charity. The appointment of a new Bargemaster from wtthin the LNery has injecied some mh needed energy and eTrthu asm into work of the Cutter Tr perfor ed well on the riverso The Master Glazler Is now In good shape and has Iss S. J. Grah4m Ch3irmaTh
THEGLAZIERS. FOIJNDATION Icompany number 077379341 ltharity number. 11437001 YRusfEÉY REPORT{INCORPORATING THE OIREcfoRS' REFt)Rn The Trustees, who are also directors for the purposes of the Compart Act 2006, present thelr anThual report tO8etherwith the finantial ststements forthe year ended 30th November 2025. ConstItuOrt and thadtable oblects The Glaziers. Foundètion wa5 Inwrlated on Ilth August 2011 as • ¢ompany limited by Srantee and not having a share capital and 1$ 2ovemed ty its Memorandum and Artic5 of Asso¢iation. The Companws registratk?n number is 07737934. The Cornpany was registered with the Charity Commission for England and Wales as a charity With ette¢tfrom 7th September 2011. tsnder registration number 1143700. The GlaZr$. FndatIOn'S ¢haritable objects are= The adVanMeTht of education of the public In the art ar Scien of histodc and contemporary painted. stained, detorated architertural and Str{ural 8lass and gla55 mosaics and the devebpment of public appieciation of such art indudin8 bv.. al the provision anfl preservation offine examplesof suth3rt in plaS wherethey may beseen by membe15 of the public- bl the provisioTh of reposltory forthe safvage and storage of meritOriOU5 examples of suth art at risk of10$5 ordamaEe- cl the re4ocation or re-siting of 5alwaged glass in suitablè buÈldin85 linduding those of htstorkal or archtte¢t¢Jral interest) to which the pU1C have access; dl the mabDtsinlnE of a library or libraries of book5. journals and matèrials a$slat with suth art: and el furthering research Into arwj the stLwJy of such art through any mean5theTrustees see fit. lil At the Trustees. absolute discretion. to advan any other charitable purpose for the benefft of the public, including but not limitsd to. relief of povertV dt5tre5s and sickness Iparticulady amongst thgse eneaEed in decordtive glass making and related trades and their dependents) and the provision of facilitie5 for treation and other leisure-time occupation in the InteSts of social welfare with the aim of Impr0vin£ the conditions ot life of those who have need of such facilitie5. The Tw5tee5 confirm that, in setting their obje¢rive5 and plannlftE therr actNities. they have 8wen due regard to ¥uidance published by the Charity Commission. including guidance on ptsbllc benefit. Or8anlsation and dectsion rnak5ng The Glèzierg Foundatlon wa5 created by thè bringine togetherof a numberof fomercharitsble entities set up ai variou5 times by the Worshipful Company of Gla2rers and Painter5 of Glass. A Mernorandum of Agreement dated 21st November2011 was made betweeTh the Foundation. the Wor5hipfvl Company and the fomier Charities. Thes foTmereharities were: The Gk2iers'Trust The London Stained GLiss Rep)sitory The Glaziers. CutterTrust
THEGLAZI£RS' FOUNDATION (compa number. On379341 (char ntsmber.. 114371x1) 7RUSfEES' REPORTIINCORPORAIINGTHE DW<ECTORS' REpomirnntinued) The Memordndum sets out the remits of the various Committ of the FOundTr which have taken over the work of ihe5e forner cha11t$. harne the GLazierf Trust Committee. the Londort Slained Glass Resy)sitory Committee and the CutterTrust Committee. Injune 2019. the London Stsined Glass Repositorychanged ts name tothe Stained Glass Repo$4tory to reftectthe change in Itt0tn. 35 Itwas no k)nKer based In London. By agreement with the Charity Commi$5toD. the Glaiièts. Charity for Relief In Need was alA) brought into the Foundation, together wrth the Master Glazierfs Charitable Fund. pfevb)US set up as a CAF Bank Trust Fund. Additionally. the Craft and COrnpetitnS Committee. formerfy a committee of the Worshipfvl Company. was traTrsfèrred to the Foundation. The work of thi5 committee was prbncipally n¢ern with the discharging of projects supportÈng the craft and utilising Charitable hjnds of the Foundation, but during 2024 it was replad bv the Education and Training Committee. This committee's objeetsve 15 to explore a pathway for aspiring students to understsd the fundamet)tslsof the cTrft. expèrience and developthÈ basic skills needed fora p)tentièl career In stalned Ela5s and ultimately demnstrate a level of expertise xtr that they can be accepted to work in professw)nal studfjos. In June 2025. following a reviewof the Foundation's fvture strdteBy. it was decidod that the functions of the Glazier¥ Trust Committee shoLEld be subsumed within the Education and Trdining Commthe. Membershlp ondTrustees The membersof tCharitable wmpanyare theTrustees directors. There are thre¢•x-offic)Truste¢s, bèlng the Master and Wardens forthe time teing of the Worshipful CompaThyof Glaziers and Painters of Glass. There is a maximum of Thlne elected Trustees, nominated and elerted by the member4 and approved by the Court of the Company, and up to three furtherTrustees C(pted by the Ttee5. Meèttn85 and feportln Duringthe year theTfUStees have metfive times in order to conduct the business of the Foundation. The various cornmittees each meet at regularintervals in orderto manage the aspects of theworkof the Foundation forwhich they are re5pon5ible. The thairs of the commtttees provide wiitten repjrts for each meet¢ng of the Trustees. Regular reports are also made bythe Foundation tothe Courtof the Wor5hipfvl Company of Glaziers and Painter5 of Glass. Whilrt the Worshipful Company does not in any sense have responsibllity for dictstinB pliCY for the Foundation. r( is important that tt is ful infom)ed aboutthe workofthe FoundatJn and abletowork closety with the Foundatton in are35 of common interest. Bankers CAF Bank Llmited. 25 KfinK5 Hill Avenue. West Mallin& Kent ME19 4JQ Accountants and Independent Examlners Leonard Jone$ & Co., I PrintlnE House Yard. London E2 7PR InvesknentAdvisers CCLA InvestmeTrt Mahagement Limited l Angel Lane London EC4R 3A8
THE GLAZIER5' FOUNDATION (Compamy number.. 07737934} l(hailty number I1437} TRusfEE5' REPORTIINCORPORATINGTHE DIREcfoRS' r(EPORn icotthuedl Trustees TheTrustees. who are also Directors ofthe charitable company. who seryed during the year and subsequently, were: Mr. S. J. Graham Eleeted Trusts• and ChaFrm4n Elerted Trustee and Deplrty Chairnian Elerted Tnjstee and Secretrry Elected Trustee andTreasurer Ex-officioTrustee Iretired 30 Novemlxr 20251 Ex4)fficioTrustÈe Ex-officioTrustee Sir Stuartj. Etherington Mr. A. T Aplin Mr. R. A. Bettinson Mr. J. Reyntiens Mr. T. J. McNally Ms. H. Whittaker Mr. H. F. M¢Arthur Mr. M. N. Dalton Mr. P. R. Hildebrand Mr. A. R. Lane Exffjfficio Trustee lapF¢Jinted l December 20251 Elected Trustee Iretired 16 June 20251 Elerted Trustee Elected Trustee Elected Trustee lapFointed 10 Novemker 20251 co-optedT5tee Elected Trustee lapwinted 16 June 20251 Copted Trustee G>opted Trustee Mr. J. A. Lane Mr. M. A. Letth Mr. C. M. L. Osbjrne Ms. R. M. Mulligan Mr. F. D. Small The Trustees are a150 Members of the charitable company. The charitsble compkny is limlted by guarantee and does not have a share Capital. In the event that the charity were to be di5501ved while a member remains member, or wiihin one year afteNards. every member has aged to contribute up w £1 towards the costs of dissolution and the liabilities incurred by the ¢haritable companv. Company Seuel¥y The Company Secretzry is Mr. A. T. Aplin. Rwlew ofActi¥e$ The Trustees rnaintaln an orgaDisational structure whtch enabFes them to manage the wide43nging rèmit of the Foundatior>. In particular. they are responsible for the ¢onsolldated investment fvnd for all the Caltal assets of the Foundation. From this fvnd investment income is dtstributed to the various restricted funds. However. the majority of the Foundation's income come5 from other sources, princlpally from dOnatTr$ and legacles. The Trustees. togetherwr(h the Foundatior's committees. then utilFsethe inwmetodischargetheirsperific charitable objectNes. More detailed rviews of the activitie5 of ea¢h commtttee and fund during the peri follow.
THEGLAZIERS. FOUPIDATION Icompafiy number 071379YII (tharity number: 11437001 TRusfEES' REPORTIINCORPORATINGTHE DXiEcfoitY REPOAY) Icontlnu•dl Rwlewof Actr4kles (C(tUedI TheEducoUon ond Trnlning Commlttee (ETCI The first meeling ofthe ETC. having been estsblished the Chorityo¥erthe summer. took 3c0 6 Nt)vember 2025. The fvll ETC. chaired ty Upperwarden Helen WhittakerMBE. meetstw1ceaJrad its purwtyse is to help delN¢r the CharitW5 newty prioTitised strategic focus on education and trdining forstainÈd Ela55 artists. craftspeople and conser¥Btors by chamwoninÉ four areas of actNity= 'awareness, edu¢Jtp?n. training and developmenv. Funds from the Charity We allocated to the grc prirtCiPBlly in 2025126 to delNer a range of OW4Td5. bursaries and funded studSo work-placementsfor new and emergin8 artlsts. craftspeople and conservators. Some of the onnual schemes offered are now amongst the most generous in the architectUF31 glass art sector. CoBnisant of the dume¢1ted. accelerated decline in edwation and training provision overthe year5 in thi5 area, the ETC seek5 to bring together e5tabli5hed edu¢ators. inn¢)Vat0 and k[ledge providers in the field. along wr(h business experts. in orderto examine the longer-tern)viabilityof sustained education and tratning pr0ViSIOTr. exF48nd careergrowth prospects. and to drive improvements. Awards In it$ fiTStyéar of operation, the Efc has made the folbwing indlvklual awards.. Ashton Hill Funded Work-placement Award wr(h selÈtttd host stud$ for 12 weeks in total IconNationl. worth £6,¢XKs'. Zoe Wi150n. Lever Funded Work-placement Aw7rd wlth selected host studlos for 12 wèek5 ITh total Istalned glass crdftl. worth £6.OCKI: Vikki Soanes. Zoe and Vikki eath also received a Geor¥e and E¥etyn Gee Award of £3(Kltowards thè purchase of ¢raft too. The ETC also rnade Professional Devebpment Awards Isupp)rting professional development èttivity such as attending courses, reseorch or conference attendarKe - up to £750 each) to: Danlelle Croft1S day course on stained glass design & constrtIOn with Derek Hunt. £7501,. exandra Wysopal I'chemtstry for conservators.. £7501; Gerakjtne M¢Sporran lacid etchirqwith Brian Waugh, 681. The Awards Interview & Assessment Panel comprfsed the following noted experts: Jullet Fotre5t (Chairl, Leonie SeligerACR,Jane Campbell and PiotrFrac. TheAwar¢J55cheme is administered ty DrKètie Harrison, whowill atso ¢overany outstanding work pla*ment bureaucracy for awards mode in previoLS year5. In 2025. the ETC introduced a unique avRrd of up to £3.C•)O lor setting up a new stained Bla55 business. or to private bu5ine55 owners laokin8 to 8row an existing blnesS via a new pmject The Award5 Assessrnent Panel cutrently comprise5 Glaziers. Past Master David Strin8er-Lamarrè (Fortis Consulting). Lwery Court Assistsnt A2ad Ayub Ifounder of Azad Ayub knmitedl and LNerymaD Mark Hosea (CEO of London Historic Buildings Tru5tl. This award was won by Tara Collette of Collette Stained Glass and consisted of £3,000 towards the cost of a k41n to support growth of her Lwsiness. Additionaltyf. the Efc approved a Rrant to the Stained Gl455 Museum ISGMI of £3.500, now reeo8ntsed as an important natiortal Collection and de54gnated as such. tyArt5CoCil Ert8Jand. The SGM offers several short_
YHE GiAEIER5' FOUNDATION (c1paNY number.07737934} (Charlty llLÈmbor." 1143Th)) TRLi¥fEES' REPORT IINCORPORATINGTHEDIREcfoRS' REPORn Itontilluedl RevlAW of Acbvities (crtinUed) The Eductlon and fmlnlng CommItteel(l (continuedl Awards Continued duratton trainin8 workshops for the publlc. a library and 8f4)win8 archive for prartttionets and academk researchers,. and a range of teaching aryl learning courses for young people and thildren. The ETC awarded further £2.S(K) to support a bursary for a Student on the internationalty actlaimed University of York MA COUfSè In stsind Kla55 heritage and ¢on5ervation managemen¢. and £200 to Vidirnus to help malntaln the only online magazine devoted tothe history. art. craft and eonxry4tv)n of Stained 8L3ss. Gla iers. ÉdutatlOA P The ETC is responsible for mana£lngoutstanding lega arTrngements arising from the GEP'S suth55ful activities, Such a5 the'seeing through our Eyes. projertwith Southwark Cathedral aTrd developing support for the nascent stalned glas5 apprentyceship covrsewrf(h Universrty of W31e5 Trinity St Davsd. IA the case of the latter, as part of a tt>llaborative consort¢um, also involD£ the 8ritish Society of Master Gla55%)ainters IBSMGPI, and the Church of England ICOEI Conservation. the ETC has committed £15CKI of its 2025126 blet to suppjrting a r5drythere. with the prospert offurther supp)rt in fvtureyears. The fjEP's progTrmme of one-day schools'workshops. run bysophie Hackerand funded by a nuMr0f indiwdual member5 of the Worshipful Company via the Found3tioTh, continued ir¢ 2025. The workshop5 involved a number of Secondary schcol age groups frn Kin¢5 School Winchester. many of whom had Special educational needs, had come from marginal communities or were Iwifig with physital disabilrties. This year there was a more collaborative approach wilh a fu$ on the environment. with a brief to create designs thèt ¢ould be turned Snto semi-permanent full-colour window installatK)ns fortbsy) very large plate-gla55 walls in the scho(>f5 art blocK The energy. smiles. concentratiot) and creativity that emerged in these sessions were an absolute joy to behold. Gla2*èrs' Trust Followin8 a review of thg Foundation's future strategy. it wa5 decided in June 2025 that the Efcshould be given re5pJnsibility for oversvght of outstanding Glazièrs, Trust restor0tn Rrants and for reviewing the future of the Foundation's SUPPOrt for conservation projects.. thi5 15 led by the psent Chairof the Glaziers, Trust Committee, Past Master Clive Osborne. The Glazier5' Tfust Committee held its lart fom)al meeting to consider grants In May 2025. at whi¢h one restoration grant of £2.500 was awarded tn respect of the nineteenth century west gable windows of St Mary. Wreay. carli5. vture Strat nd Governance Th¢ ETC hasoverseen an overhaul of the Foundation's award5' applteaticin and administratNe processes foronline applScation, evaluation and assessment processes. ensuring greater consistency of approach. transparency and less bureaucracy. This h35 been facilitsted by Dr Katie Harrison, who has been paid a smèll honorarlum to acknowledge the time she has spent on this prosert.
THE GLAZI£RS' FOUNDAnON IC¢)mpany number. On37934} Icharty Trumber.. I1437) TrUSTEES' REPORTIINCORPORAMNGTHE DKtEcfoRS' REPORn{toirtinued) RÈVIEW of Acthttlles Iconthutd) The Educotion Commfttee (ETCJ (coniinuedj Future Strat and GOvernae ntinued Funding Is a likely to be a perennlal challenge for the ETC.- in the present sltuation. the FoundatKsn has been as generous as p055ible with allcratKJn of finances to us. Mindfvl of this. the Efc is keen t¢ publicise Sts successes, demonstrate positve edatIon and training outcomes as a result of its initiatives: and provide persuasive evidence to support Foundation fundraising artivittes in this priority area. We are aVaYS w11li to meet. and engage with. existing and potential new funders. In 2026. fvndlnE permittlnL the rn$ to expand its actwlyes in the four key a$ of awareness. edLFcatlon, tralnlng and development. Our 8oal Is to reverse the decline In education and training provision. by Increaslng supportand frsring the growth of wotexperie, professional developmentand widerlearnin8 0ppQrt1ttes In the sertor. Through th15. we aim to create a dwelopmental pathway for all. whtch will enable the next 8eneration of artlsts. craftsFeople and conseryators tg flourish. The EYC prtsently comprises: Helen Whittaker MBE Ichairl. Math Hosea (Wi¢e-Chairl, Clive Osbjmo Icthalr, Glazlers. Tru5tl. Rkhard 8ettinson lfinancesl, Df Jasmine Allen. Jyllet Forrest Davkl StriftKer-Lamarre, Andrew Lane. Sarah Janon ACR, Jonathan Lane Ifund-rni5ingl. John Mannell IGLiss & Glazing Federation),. Petèr Hildebrand: Drcate Watkinson lfrorn 20261.. Dr Katie Harrison. suzan Galloway Iminute SeCtary}. SLoanne Galbway- Secretsry 7he5tolnedGloss RePo)ryc9rnntet The Committee is eaSed to report a number of exciting devek•pments, not only in thè ktIoN of rescued stained 8lass, but also in the updating of its drtaI presen. New website The Rep)sitory had been well served for many years by Its old website. which had been created by a previous ttmmittee member. However. there were problems in keeping the website up to date. and the design had become dated. Duri the year it was repEaced with a new website with a fresh contempornry design. It incorporate5 examples of rtcent cases and has become a vffal calling ¢ard wh•n 5peakinc to those who may b Interested in acquiring glass from the Repository. in Panets from Sherborne Ab The Repository has tsken on the task of finding new homes for the Stsined glass panels removed from the west wlndow of SherbDrTre Abbey. Thls historically important glass wa$ desvined by the famous Victorian architec¢ designer. arttst and eritK. AuStUS Welby Northmore and made the leadin¥ Victorian stalned glas5 studio. Hardmam5 of Birmirgham. in 1851. An essontlal tool In thls prolert wlll be the new w¢b5fte. whkh ha5 a sertlon dedtcate<l to the panels.Thewebslt* went INe just before the end of the period under revthv. initial intèfert shown by both educational e5tsbltshments and Pugin enthu$1è5ts has been encournEing.
THE GLAZIERS. FOiINDATION (Company number. 077379341 (Charity n¥mber. 1143700) iY¢usrEÉS' REPORTIlNCORPORANG THE ORECTORS. REpoRn(cothtind) Redlew of Adlvhles Itontknuedl TheStoined GlassReFOSitoryCornmittee fcontinuedj Old LH55 new homes There havè en two important projects completed this year. both of which highlight the p)tential in the pane rescued by the Repository to find excttinE new homes. The worked with Billeritay DAethodist Church to relocate three stsined glass windows. which woukl otherwise have lUrned to the Repository. i)) a new Ivéhtbox. As none of the windows in the chvrch coutd attommodate the panets another solution was reouired. Together with the church an alternative was found on a blank east wall. which had pVIouS been covered by a simple curtain. The partnership of mid-nineteenth century siainèd glass and a 1960$ ch4Trrch has prc4ed to be a perfect match. with the new windows providing a new focus for the congregation's Services. The use of a IiBhtbox overcame the lack of natural IiBht and allows the windows to be seen throughout the year. Modern low ener8V LED technology aL%o ensures a fiThe even Ibght Wtth minimal runnin8 costs. The sltccess of the project prompted a feature in the Institute of Consethtyon's magazlfie. and it is hoped that thi5 project will inspireother5 to see the potential ftsr usin8antiquÈstained Ela55 in Ve1 way5.The second project w35 more conventional and saw the introdu¢tion of two panels tsken from the ReFQSitory installed into the 50Uth wall of a Lutor¢ church, to provide a fitting memorol for two much loved famdies. ance The Repositorfs work Temains dependent on the financial support it receives. The Committee 15 therefr) m05t Kfdteful to its donors. and in particulario the Loppy1S and Barbawa Morrison Charitable Trust. whose supp)rt is Vital to rts continuinE work. Peter Hildebrand- Secretary and raSUrert0lhQ R*pvsitory The Cutter Trnst Committee Stephen Shaw continued to aet as Honorary Bargemaster during the year Whi a succes50r was Soht. This process was completed in the aulumn and Dan Heath was ap)Inted in November 2025. We thank Stephen for hSs manyyearsof service as Hofiorary Bargemasterand partKUlar for stepping bèck into tho role when his initial su¢¢e550r became ill. It was a150 a year of change for the Cutter itself a5 a new berth needed to be found for it following a signthcant Increase in stordge charge5 leVd by the AHOY Centre. Sunbury Skiff and Sailing Club kindly alreed to provide that Thew berth and the Club's member5 are also now providlng creivs frjr races and other events. The Morter Glozlerfs Choritoble Fund Th15ft&ndwasestablLshed in 2CK)5 byPast Master Philllda Shawtoenable future MasterGlazlers to makecharftable grdnts at thelr discretion. This year On one 8rant was made.. E875 to Reyntiens Studios for creation of a glass panel as a glft for the guide on the Master'5 Oclober 2025 trlp to Lithuanta.
THE 61AZIER5' FOUNDATK)N (Company number 077379341 l(harlty number.. 11437Th)1 TRUSTEES. REPORTIINCORPORAIIPIGTHE DIIEcfoRS' REPORn(tonllnugd) Rewiewof PxthltJe5 Icontknuedl The Rellef In NeedFund The fund is used to make grdnts to provide relief in cases of need of member5 of the Worshipful Company of Glazlers and Painters of Gk55 and ihelr famllles. iogether with other pev50n5 engaged in the glass trades, crafts and professlons. and subject thereto. to make grants ift ts5e5 of relf in need of per50n5 who are engaged in the lass trades, crafts and professions. No Ernnts were made durine theyearl2024- one grdnt of ELS1. TheTnJstee5contlnuetowel¢omeappSicatK+n5forsLyportfrom anyone In need whofrdllswithinthe Fund's remit. Revlew of Flnandal Posftlon During theyear. voluntsry irKome (including GiftAid cOverableoI £69.31112024.. £53,174). investment income of£31,06112024.. £41.8871 and other income of £2012024: £8CQI were received by the FoundatKin. givbnga totsl Income of £100,39212024: £95.8611. Aslgnrficant proportionof the FouTrJation's incomecomesfrom¥oluntarysources. mainlydonat40n5 and leCleS, and the Tfusteeswoukl like toth3nk all our Supporte fDrtheirzenerous funding. whlch hè5 often contlnued for many years. The wa5 expenditure of E34112024'. £4.0771 in SpEct of investment management feès, and £67.87612024.. £78.4381 on charitable actryities Trncludlng governance. giving totsl expenditure of £68.21712024: £82.5151. The $urplu5 for the year was therefore £32.17512024- £133461. At 30th Novemt4r 2025. the total funds on the b3fice Sheet stooj * £82355612024.. £815,489) and the value of investments was £684.93512024.. £702.3891. f 648.93512024: £666,389) was held in UK listed investments Keneratlng income. whKh is dislributed to the various reStrted fund5 In accordante with the wrcenta8evalue attbtable toeach fund. Further detsils wlll be found In Note 8ttthe a¢¢¢yJnts. Related party tiansarttons Note 15 to the accounts provides detsils of tr•nsactioThs with related partle5. Reserves Pollcy Within each restricted fund, the Trustees will nornially alk>cate the income attributable to that fund for the charitable purpose5 identifred forthe fund, provided ihat the requests made fOra55tan¢erneritthe expend6ture. In the event that a surplvs of income remain$ at the end of the year. then the surplus tan be carr¢ed forwar(l and added to th¢ iftcome availableforthe fokn¥in8 year. Invesknent Pollty TheTrustees have wide invethent $0 that any monres and other property forn)ing part of the a$5ets of the Foundation may at any ttme be invested by the Trustees in anyway in which they in their ab501ute dlscretlon think fit all respects as iftheywere the sole benefftial ownerthereof. and anysuch investrnents mayfrorn tome io
THE GLAZIERS. FOUNDATION (company number. 07737934) ltharity numbEr. 11437fy)1 TRLISTEES. REPORT{INCORPORATINGTHE DIREcfoRS' REPORn Irorblinuedl InvesbThent Pollcy Iconttnuedl to time be reali5ed.transposed or reinvested. Duringtheearly part of the financialyear. the appolnted investment rnanagers. Ravenscroft. contlnued to manage a pjrtfolio of eqijities, bonds an¢5 pjoled investment funds as baL4nced portfolio. designed to provide both income and ¢aFxvdl growth. with the Trustees requiring a minimum of 15% of the FKJrtfolio to be inve5red in envimTrmenl andlor ethltal sÈctor5. However. followlr$8 a serie5 of irtt*rvi¢w5 in January 2025 with the current and w40 potential alternative managers. the TrLtstÈes decided to transfer the management of the foundat'S portfolio to CCLA Investment Managers Limited, to be invested in their COIF Charittes Investment Fund. The transfer was completed on 24 March 2025. With regard to Environmental. Soctal and Govemance IESGI issues. the COIF Fund has minlmum ESG standards xross its whole portfollo of imieslrnents and aims to act as agent of social and environrner¢tal change. R15k Polky and Uncertalnties The Trustees have carried out an assessment tsf the major risks towhich they considerthe charrty is exposed and continue to tske steps to mitizate those risks. They hwe tsken out irtdèmnity insurdnce also t¢)verfor third party risks. DlrertOf5' Responslbllltles The directo (who are also the Trustees under chority lawl are responsible for prepartTh8 the Trustee5' Report Iln¢orwratinE the Director5. Rewrtl and the finarKiol 5tatemefit5 in a¢¢or<l•nce with applicable law and regulatlons. Undèr company kw the directors mt prepare finarKk?I ststements for each financial year and they must not approve the financial statements unless they are satisfied that they gNe a true aNJ fairview of the stateof affair5 of the charitable company and of its 5urplu5 or derlE for that perioj. In preparillg the financial statements, the directors are ¥equirÈd to: s¢le¢tsuitablè accounting pollcles and apply them consistently.. make judgements and accounting estimate5 that are reasonab and prudent- state whether applicable accounting stsndord5 have been followed. subject to any significant changes eing disclosed and explained in the th"nancial statements- and prepare the ffnantial 5tstements on the goin8 concern basis unless it 15 inappropriate to presume that the charitab company will cont¥nue in busines5. The directors are responsible for keepingadeouote accounting recordsthat are stsfficient to show and •xplain the companVs transactlons and di5c105e with reasonab accurary èt anytirne the finan¢ial position of the company and enable them io ensure that the financial ststents comply with the C£smpaniès Act 2U)6. They are a150 responsible for safeBuardin8 the a55ets of the MpanY and hence fortsking reasonable steps for preventbon and detertv)n of fraud and other Irregularit5. Theaccounts are prepared in a¢cordancewith the special provlsionsof Part 15 of the Comp3nie5Act 2Tr)6 relatin8 to small companie5. Th8 financial statements have t&n prepared in accordance With the acwunting policies set out in the note5 to the accounts and complywrth the charivs governing document. the CompaniesAct 2C¥)6. the CharitS Act 2011, the Finantrdl ReportinE Stsndard applicable in the UK and Republic of Ireland IFRS 1021 and Accountin8 and Rèportin8 by Charities.. Statement of Recommended Prdrtice applicable to charities preporing their accounts in
THÉ GilERS. FOUNDATh)N (Company number 077379341 lcharlty thumber= 11437001 IftUSTEÉS' REPORTIINCORPORA71NGTHE DIIECTORY REPORT) (Col1ed) ljlrectors. Re5ponsibllltles Icontinuedl accordance with the Finala1 ReFQrtin8 Standard Appli¢ablo in the UK and Republk of Ireland IFRS 1021 I-SORP IFRS 1021-1. effettNe January 2019. Approved by the Trustees and $igned on their behalf . S. J. GTrham Trustèe/rxrertorond tholmyon T. Aplin Trustee/&TrertorundHonomrySetretory Date: 15 Junè 2026 Registered office: Glailers, Hall. 9 Montsgue Close, London Brxlge. London. SEI 900 12
THE GiAZIEPS' FOuNDATN {Company Thumber. 077379341 ICharFty number 114371KII INDEPENDE111NEs REPORTTOTHETRUSfEESOFTHEGiAZIERS' FOUNDATION I reporttothetharity trustees orbmyexarninatton oftheaccoLmtsolthecharttablecomparyfortheyeaiended30 Novernber 2025. which are set out on pases 14 10 29. ReSpons1t1£SondbO5lF01TePort As the ifltytees of ihe ¢haritoblE company land atso its direciors fw the PUFP05e5 of company lawl you ale respon56ie for the preparation of the xcounts in accordante Mth the rewirements of ihe CompanSesAct 20061'the 21rf)6 Arfl. been satisfied that the accounts ol thechaiitable <ornpany are not regred to be djIted under Part 16 of the20C Ad and are elieible for indeperident examination. I report in respett of my examination ol your tharitae companvs accounis as carrled under Section 145 of Ihe Charities 20111.the 2011 ACVI. In carryin8 01 my ex1rDatIOn I have followed the Olrections KNen by the Charitycomrnksslon undetsertion 1451Sllbl of the 2011 Act. IndependentexoThlneesstot¢meot I havecompleted fnyexarninaiioTr. I confifm ihai fio rnatters have corne to my atteniion in wnrbErtioTh wfjih the examlnation 8rying me cause to beltevÈ: actounting record5 were rKt kept in iespert of the Charitab corn¥ as required bysectlon 386 of ihe 2006 theaccounts do ntst accord with theaccountirrf rttord% Ihe accounts do nol comply vrilh the accounLinB iequiiefflenls of settion 396 of the Act other Ihan anv requlremenl that the accounts 8Ne a 'true and fabrf view whKh is not a matter tI$[dered 85 part of the IndepeThdeni exarnination- or the attourlts have not been prepared rn trdance with the method5 and prirsC4ples of the StaterneTht of Recomrnended lor 4tcountiThg and reportin8 by charities lappb¢able to thaTStie5 preparing their accounts in accordance 1h the FIr11 Reporting Stand4Td picable in the UK and Republic of Ireland IFK%10211. I have no cot)cerns and have come across no other maiters in conneCtn wth the examination to whkh èttention shoul4 be drawn threport in order to enable a pioper understan¢knRof the accounts itsbe reathed. O ALyons. FCA leonard j£eS & Co ChlrrteOAt¢lltunts I PrfnVn8 Houseyard. London E2 7PR l? 2026
THE GLlEft5. FQUNDATION (Company number. 077379341 (thal number.. 11437LxII STATEMENTOF FINANaALAcnvmES FOR THE YEAR ENDED 30 NOVEMBER 2025 Year ended 30.11.201 Total Fynds INote 17) Yearendod 30.11.2025 Unresbkted EndlIeTht Rt5tricted Fstnds Funds Funds {N¢¢e 111 Totsl Funds Income Income and endtswments fmm: Voluntary income- donations lin¢l. Gift ar le¥aciesl lThvestment Income 32.776 36535 25?74 69.311 31,1 20 53,174 41,887 Other (oM io 37.883 62509 100.392 95.861 Ralsln8 fund& Investrnent rnartra8emetrt fees 1351 13411 14,0771 actlvkles 117.lni 150,7041 167.8761 178.4381 Totsi expendtturt 117.1721 13061 150.7391 168.2171 182.51S Net ith¢offle r befor ex nditure ains for the 20.711 11.770 32.175 13.346 Tran5fer5 betwoen fibnd5 16 133.9401 33.940 (Losses) / gain50n Investrnent assets 121,6351 12A73 124,1081 5,417 Netmo eni In fuodsforthe 20.711 IS5.8811 43.237 8.067 18.763 Total funds at beKiTrnin8 of period 694.604 120A85 8.489 796.726 Tot41 fu d$ 8t30 N¢>¥emb2r2025 £20.711 £638.123 £164.12Z £823556 £815,489 There were no other recoEnised gain5 or losse5 other than the net Incoming SourceS Included aboYÈ. There were no discontinued acbvitks durin8 theyear. The vote50n Se5 17 to 29 lotrn partofthese finantial staiemen 14
ThE LlEIl$. FOUNDATION (Company numbgr. 07737934) ICh¥lty number.. 11437001 SUMMMYINCOME ANO EXPENCATURE ACCOUP FOR THE YEARENDED 30 NOVEMBER 2025 V** ended ).ll.YJ25 Ytai e#ded .11.2024 Inctsmeforyearcompflw. Voluntary inc(wnt- dMaiionslln¢. Grft d and legacie51 Investment income Other income 69.311 31.061 20 47.174 41.887 Totsl Income IlbJ,39Z 89.861 RalsinK funds lintome fvndsl Chariiable acd¥ltles 1351 167.8761 2181 178.4381 Total expendlDAre 167.9111 178.6561 etsu ILkslor the eav £32.481 £11205 The Thotes on pa8es 17 to 29form part of these financial staternent>
THE GLAIIER5' FOUNDATION (Company number. 077379341 (Charlty number: 11437th)) BAiAN(E SH A5 AT 30 November2025 No 30.11.>)25 3th1LZ024 FiYEd a55els Tanglblefixed assets Investments 684.935 702.289 684,935 702.389 Debtors Cash held bylnvestmenifflanagers ash atbank 20.011 152,977 12L978 163.627 CrtdltorL' amountsfal 0.651 duewbth Other cred¢Ns¥nd a¢cNa io I2506) I371) Net wwrent assets 138.621 113.100 Toral Bssets kn cvvretht £823.556 £815.489 Unre5tridedfund5 Endowment funds.. pe¥manent expendable 13 20.711 li 63,860 574,863 66,236 628,368 11, 13 Resviaed income 63&723 164,122 694.604 120.885 E823.556 £815,489 Thedlrertors c0Tr51derthai ihe¢ompanyiSLit1edto exempl1LfrOM iherÈquirement to havean audit underthe prowsion5 of s.477 01 the Companie5 Act 21)06. Members he noi required the wmparry. under s.476 05 the Companles Act 2006. to ¢btain an audit for the year ended 30 Novernber 2025. The direttors ackntsvAedge iheiT responbilltyfQr ensurin8 thai the company keeps accounting record5 to cornp wrth s.386 ofthe Companie5 Act 2006. and for preparing accounts which giwe a true and fairwewof the state of alfairs ol the company as al 30 November 2025 and of its result for the year then ended In accordante wlth the requlrements of &396. atyj thl¢h otherw15e comply ihe Act relatlng the actourts 50 tsr a5 applicable to the company. The finan¢io1 statements have been pre In aCCordare Mth the sal PTOV45ions ielaithg io cornpanie5 subjectto the sn¥•ll compan$ re8lme thIr# Part 15 of the CornpaTrs A(t 2006. Appro he Boardand Sed on its on 15June2026 Grah A Bettirm /Dlrertor& Cholnno The note5 on p4e5 17 to 29 forrn part ol thE5efinati(ial 5taEements. 16
THE GLA21ERS' FOUND4TION IComp•ny humber. 07717934) (Charity numbEr'. 11417th) NOTES TOTHEACCOUNts FOR niE YEAR ENDED 30 NOVEMBER 2025 COMPANY INFORMATION The Gluierg Foundatiorb ¥ a privale cornpany limited by Euarontee reRtslered in En¥land and Wales, re8i#ration i$07737934.The reered office is at Glaziers. Hall. 9 Montague Close, London SEI 9DD. Thecornpany isa registered charity. registered in England wa fewstTrtion number 1143700. 51fj111FICPJ4T ACCOUNnNG POUCIES Basis of preparat Thefinancial ststements have been prepared underthehistorical costconventiongjbittt to inve5trnent5being carried at market value. on a going nCerft bays. i# accordance with the Charity Commlssloner<-AtcountinE and Reporting by Charities." Slatemenl of Recofnmended Practice appltcable to charities preparln8 thesr accounts in accordance th the Financial Reptsrtillg StaThdard applirable in the UK and Republic of lielaod IFR51021" l~thE SORP IFRS 1021-1. effectrve Jaauary 2019. With the Charities Act 2011. with the Companles Aci 2(N)6. Ihe Finanoal Reporting Stsndard applicable in the UK and the Republic of Ireland I-FRS 102.1 and applkablÈ tlaIoI1> Thecharitable ¢ompanvtonstitth¢s a public benefit enlity asdefined FRS 102. Thefinan£ial statefflenisaie denoffjinated ift pounds Sterlin81"£"1- Ibl 6dng Concern Thetru5te25 conderthere are no rnaterial ertaInlieS3b0tthe charitable companvsabilityto continueas oin8 concern. Re of the postion and hJiure plans 8lves trnstees, confidence thai ihe tharlty rernains a g(Mng conrem lor iheforeseeablefuture. 5tatemenlof Financial Arflwil5 lryoFAJI Income ExpendireA(oUnr Theformat dillers Iromthai fora profit & lossaccouTht prestrlbed by the COMOIeS Act2006. the tru$tse- dlrettors bEing oftheopinion that ihe h)Trnat adopted rellerts rnorefafjththeactrtIe5 of the<haTity. The company lsa re8i#ered charity and is not WbAt to UK corywauon taxon its kncome or tapitslgains. le) Cash flowthtemtnt The financial staternents do rtot Indude a cash flow stèterthent because the charitabte company meds thE criteria for e%emptK)n Irorn the req1rementto prÈparesLKh a $raiement under the SORP (FPS 1021- ifj Depreciatlon of iath8knlEfixed assets Cuiier equipmefit Iransfe1r from Ihe Glaiiers Cuiter Charitylsee note 71 wa5 depretiated irs eqL¢al annual in5talrnentS Ov4¥ the estirnaied remaininE U5ehJl lrfe (JF the equipment The tTUStees con%dered the remaining usual life of the equiprnent io be approximaiely 5 years from the date the equSpment was transferred to Ihe dllty. TheequlMDenl has been lulty depreciated. 18) Investments U#ed investments are accouTrted fat at markei valtsation. Reallsed arKI urtrealed Kains and losses on frAed a55et lnvestmevts are recognised in the FA in the vear to which thty relate. The unquoted InvestrnlS are induded ot par being thè iruslees. best tstiinate olfair value. 17
THE GLJ21ERS' FOUNDAnoN (Company number 077379341 lchawlty number- 11437001 NOTESTOTHEAccouNfs Icontknued} FOR THE YEAR ENDED 30 NOVEMBER 2025 Z SIGNIFICAKf ACCOUNTING POLKJES Iconthu•d) Fund Unr4Strirted funds are the accumulated surpluses and deficits on 8knerol fvnds which can be used in the hJrthefAfficeOftheoblett50f ihe tharityatthed15cretSot)ofthe Istee$. Endowment frJnd5Iepieseryttapital funds ofthe charity. Restricted fundsarethose prowded by dDnorsonthecoThditton thatthey are expended o particular asperts ofthe obprts ol thecharity. Ntste 12 pio¥ide5detsi1s of restwicted lunds. Income All incorne ts accounted In the S)FA whtn the arnouThi be measured rel10¥ and there is probabllity of recLypL til Resource5•yehdtd Expendiujre a(Unted fof on an atthia15 Ixsi5 ¢Lwssthed headiibgs the accounts that awegaie all Costs related to the category. Charitable actmties expenditure in¢ludes the costs idethttfted os whotly or rnain attiibutable to athievlnz the tharitable obleclive& Grnn15 payable are accourlted IOF avRrded unless spKifi¢ perfor{rnCe tyiteria apply. ReStoraOn 8f¥nts.onceawatdEd, are available to bectsimedbythe •pleI for 2 year4 butthi5 peritid may be extended bya furtheryeaiin éx¢eptionalclrCumstaThc8Tant0ffers91clairTre1h1n theaBreed perkid ale wTrthdrawn and the cost written bxk. &Jpport Costs are 8ener81 costswhlth enable ihe thariVsattMtie5 to be undertaken and Include the costs gf overnante whith relate to the general runnin8 of the eharity as s)pposed to dirert opeTational mana8ement. Governance COSES ifjdude costs of the governance infrastrurture includtn8 con5titUlloTral and statutory costs. independent exarninerfs lees. Wl advi for trustees and costs aSSialed with thestfale8ic m•nagementof th<h¥riVsactywties. The charitable companyls notTe8fjsterd lor VATand soall expendlturelsshown Indusi% of VAT. Tran5actlon5 in frJrtyEn currencie5 have been translated at an averate exchanBe rate for the period a$ ati app¥oximatlon for the late ruling at the dateof the transacuon. Monetaryasset5 held ina foreign iurrencyat the period end have been iranslared at ihe rate lingl the balance shtet date. Debtor5 Ik) Debrorsare recoKnised at thesettlerne•tamrAJntdue. Prepatsare valued atthearnount prepaid. Creditor5 and prov10$ ore re£(nlsedwhere ihE charity hasa Present otAi8arion eIThg from a past event Ihat will wobabty result the Lran5fer of funds to a thlrd party and the amount due to sttt12 the obligation can be rneasuTed or estimaled Idiably. Creditor5 and provÈ¥ons are normalhf recognised at their settlernent amtyunt after allowing for any tradediSc¢)untsd. 18
THEGLJIIERS. FOUNDATION (Compahy ttumbEr. 07737934) ltharlty number. 114371JOI NOTES TOTHE ACCOUPItS Icth¥tknuedl FOR THE YEAR ENDED 30 NOVEMBER 1025 NVESYMENf INCOME Yeaf ended Year ended 30.11.202S 30.11.2024 Total Total knve5tmenl incomecomp Incomefrom UKlisted investmen Bank and ¢AheT inierest 25.974 5,087 36.r144 5.843 É31.061 £41.887 QIAR 4LE EXPENDnURE Charilable expendbture (omprke&" Yearended .11.2025 Tolal Year ended ).11.2024 Totsi Grantsto Irb5ti1UtilnS (see belowl Grants and donatTrtins ro indwwjvals (see belDwI 8.957 22,298 31.255 26.882 24.776 51658 Support costslsee beJow> 36.621 26,780 £67.876 E78.438 Grantsio Jnstkutiohstompr15Q: Ytarended 1.11.1025 Total Yeav ended ao.11.2014 Total stne9147$s lertor0ti grants." St Mary. Wfety Si Mary. TeJnple GuiiiThg Si Mary thevirgts). Woodkirk Blanchlartd Abbey. BLin£hland St George. Shimphng St Mary. Stali%field Winnow. L05twthi JI Sainis, North Morelon HolyTrnity. Lon8 MelFord Si Marytho Vbrgin. Hastingle St Michael le Belfrey. Yo Sl Margaret DIAntio(h. Barlev 12.2501 12,OWI 2.OQO 1.0 LOTr) 1.500 2.0 1.000 2.l¥JO I,wo IL5001 CprrfedlWOfd 11.7501 10,000 19
THÉ GLNZIERS. FOiJNDATION {fynpany humber.. 077379341 (Chath nurnber 1143MI NOTES TOTHE ACCOUNtS Icontinuedl FOR IHE YEAR ENDED 30 NOVEMBER 2025 CHARITABLE EXPENDrruRE Iconydj GrItst0 In51itutknnsl(lr) ye ended Ythir endèd 30.11.2025 .11.2024 Total Total Stoined 91955restoro&on grunts (convd) OVIhtfvQrd 11.7501 io.orxj Othergrants.. The siained Glass Musoum Untversily of York Vidimus British Sodètyot Master Glass Painters Reynitèns Glass Studwj IMa5ter Gl•zier< FLmd> HMS Kent (Master Gla2ier< FLtndl TreloarTrust IMasterGlatiers' Fund) GLSE SEciorArmy Cadets 1M45terGlazrs. Fund) isit Stsined Glas< websilelUnTe5triQd Funds) 3500 3.ODO 2.500 400 875 4.5¢)0 3.000 2,500 soo 500 1.450 432 432 GI101nd1¥1d¥rnPIkt Year Ènded YÈr ended JI.2025 30.11.2024 Total Total ieveT Award$12 irbdNldualsl12024.. 2 indfvidualsl A5htcn FllllgranT5fordeTrRlopment o15kJllstowardsptacikal ¢areers12 indiTr*idualsl12024.- 2 indNidua&l Stevens Compeviion and other prizes Relief Fn 14eed 8rani lfjo indMdualsl12024.. 1 indMdu41 17.460 4,838 9.976 5.000 1,500 20
THE GLI21ERS' FOUNDATION (Comp4ny number 077379341 {tharfty nurnbor: I1437) NOTES TOTHE ACCOUNTS (cont1) FOR THE YEAR ENDED 30 NOTrIEMBER 202$ CH#RWABLE EXPENDrtURE{<onVd) Supp(rft(ostscomprlsv. Yeai ended 30.11.2025 Tot•1 Y1 ended 1.11.2024 Total Pri11¥[8 and coThwetition costs Subscription5 (rrRAI (The Cutter TrusE Fundl Storage and adrTrinistratNe COSES Uhe SEalnei161ass Repo%tory Fuhdl Glaziers EducatKtn Partnership projetts, iotsrs aod workshop512025.. unreslrirted fvnds and Gl¥tiers' Education PJrtnershtp FId. 2Q24: Gllers. Education Partnership Fundl Events and other expense5 of the CutterTrust Fund TrCutterTrust Fund) Boydell Library costs mellneoUS expenses 1.730 1500 7.337 1.51JO IL869 6.240 4,053 27 905 23.749 16,630 GoverrTrance costs15eenote 51 11872 10.150 SupportC05ts rdatetothe giant-makin8lTntludinB priltrTrZand competilN)nl aCtItIeS ofthe charityexeept wheiÈindttaled above as rdaEln8 to the acti¥itie5 of specific restrKted fvt¥J GOVERNAN(E COST5 Year Èhded 311.2025 Totsl Yeaf ended 30.11.2024 Totsl Independent eXarniner fees= independent oxaminati accouThtanryseryices taxatton 5eivbces legal fet5 IT supportl dwek)pment Tru5tees' meeting expenses and marbaqomentrosts 2,175 1.890 600 2.400 2205 1,890 600 4.943 5,455 2.872 £10.150 INcOME/ IEXPENDrruREI-£MPIOYEES The Foundation had ernployees during the yearand therelore pald staff unoluments IZ024.' re) 21
THE GiPZIERS' FOUNDATION Icompany number 077379341 lthailty tturnbei.. 114J71KJI NOTESTOThE ACCOUNTS Icontlnuedl FOR THE YEAR ENDED 30 NOVEMBER 2025 7. TANGIBLE FIXED ASSEIS Ojtter Equtprnent Coll: At l De¢ernb 2024 Addition5 in year 3,478 At 30 N¢)vember 2025 3.478 Depredation: At l December 2024 Charge lof yeaT 3.478 At30 No¥ember 2025 3.478 Ntt bookye at 30 November2025 Net bookvalue at 30 N¢rnbel 2024 INVEsfMENTS Iiive51menrs are hehl Primari10 prde an Investment retum foi the (hkn. Movements in thEyearwere a5 follots: Year to Year to 1.11.202S >).11.2024 Brought forwaid l Oecember 2024. atrnarketvakne Purthased durin8year Shares re£eived bywayofgih Disposals ITh year- proceeds P4el Ilosse51 on disposals duringyear Net Ilos%esl I1ftS0 revaluati of investmÈnts 702.389 663.263 701.319 24.968 6,WO 135,3151 14111 5.828 1656.6091 115.2261 18.8821 Ma¥ket Value at30 No¥ember2025 £684.935 EY02.389 Hisiorr cost at 30 Novernr 2025 £69317 £668.787 IrNestmentsai markei valuec¢Jmwi%o: ).11.2025 XI.11.2024 UK listed Investmet)t5 Unquoted iTh¥estment 648.935 666.389 36.OTrJ Marketvaluo a130 November 2025 £684,935 r102,389 Duiine the yoai Ènded 30 November2024 thecharityféceNed a8ilt of 6.(JO preferentt sharesin Glat4ers' Mall bmited. valued bytheTru#ee5aith•T parvalueof £6.f*X)12025.-nowft of shares received). 22
THE GLAZIERS. FOUNDATION Icompanynumber 077379341 Icharity number: 11437(Kil t40TES TO THE ACCOU$ Iconibjuedl FOR THE YEAR ENDED 30 NOVEMBER 1025 INVESrnIEPIIS Ir(ntimuedl VKlisled inveslments at 30 November 2025 were attributableto the Foundation'svorious fvThd% as follows:
)AL2025 3th11.2025 30.11.2024 11.2024 Vilue of V•luÈof ¥•sTm•t)ts The Glazlers'Trust Futhd The Lever and Asht¢Jn Hill Award5 FurLd The Edward Boydell knbrary Fund The Reliel in Need Fund The Stsined Glass RePOtOry Fund The Master Glaii?rf5 Fund 86.957 322.326 18,757 63.on 143.999 18.819 18.32% 49.67% 2.12% 9.72% 17.27% 2.90% 122.082 330,996 14.128 64,773 llS.085 19.325 49.67% 2.12% 9.72% 22.19% iTri.oo% E64B.935 ioo.oo% £666.389 The unlisted investment is all asset of the GIlr¥ Tfit Fund. Thefol1ong listed inve51mentshad a rnarketvalue in eKessof S% of the iotal portfolio vluè as at30 Nov¢mber 2025." 30112025 XI.11.ZO25 3011.2024 30.11.2024 CCLACOIF Charities IrNesirnent FisTrd AEW UK REITpl¢ Rcyal iondot) Utm UK Equity IIK M GBP Nav Temple 8af InvestrneTht Tr4J5t 25p Ords N8 Private EqustyaassAOrd. Princess Private EquiLV Invest Fd serv Lid IFSL BAV HUFI GBL BLCP B INC Pictetsset M8L Gbl. Qpps. Gulnne5sArn. Fds. Gbl. Eq. Inc. 644935 5.1% 6.1% 6.4% 5.3% 33.880 40,$00 42.800 35.512 38.410 40.450 34.014 36.403 6.1% 5.1% 5.5% The CCLA COIF (htities knvestment Fund 15 afb aaNety managed, dl¥•sified fvnd %thl¢h has an emphasis on equities (between 50% and 85%) but11 alw Invesi in othLY asset dasses. whlth may Include property, bond5. rash artd aliernaiive asset classe5leg infrastructwe3$5ets. cornmodiiies. wivateequity, etcl. The lud aim5 to provide a total rèturn Icapiial growth plus income) over the Ion4-lerm Idefined ¥$ fiveyearsor morel of UK CPI +5% per annum. before costs and charges. Ihe unquoted inv2sFm•i comts preferen¢e shares in Glaziers Han Lirniied arxl represent an asset of Thè GLiiiers' TN5t n. 23
THE ¢aAZIERS' FOUNDATION (Company numbEr. 077379341 (Charlty number: 11437001 NOTESTO THE Accoup¥fs Itotttknuedl FOR IHE YEAR ENDÉD 30 NOVEMBER 201$ OE8YORS 30.11.2025 30.11.2024 In£orRe tsx recovwable Prepayments and actwed inc oiherdebtors 10244 14,768 2J70 3.073 0.650 f20,QII 10. OTHER CREDITORS ACCRUAIS 30.11.1025 30.11.1024 Grantcommllrnenis oihercreditorsand accFua15 9500 15,506 24.750 12.801 S,W6 7.551 Gnnt commftments asai 30 Novernber 2025 Comwed. 30.11.2025 30.11.2024 ommitmentsat l Oecernber 2024 Grants and donaiionsappioved theyear Inetl Grants preOVappf0yed witten bad¢ theyear Arrbounts paiddurin8 iheyeJr 24.750 2.500 14,250) 113.5001 21.750 11.500 11.5001 (7.0001 £9.500 £24.750 11. ENDOWMENT FUNDS Year ettded 30.IlaS: Furth I.) Vwses)
).IL25 PermanerterMl0wmenthd. The Relief In Need Fund pendable endo¥nnentfvn The Glaziers'Trust Fvnd The Lew and Ashton Hll Awards Fund The Edward Boyddl Library Fund The Stained Gla55 RepDgtoryFund The CutterTrust Fund Iht MasterGlailerf5 Fund 66236 12.3431 63.860 231.659 274.830 14.298 133.1211 13.2311 111.9751 195.261 262.686 13.780 77.731 6,453 18.952 574.863 11691 1411 12,8761 7272 19.661 628.368 iioi 12731 16991 119.2921 133,9401 £694,604 1£33.94Ql (£3061 le2L6351 £638.723 I'l See [le 16 24
THEGLPIIERS. FOUNDATION (Compary nurnbEr. 077379341 lchaflty thumber.. 11437001 NOTESTO THE ACCOUNTS Icrffitinuedl FOR THE YEAR ENDED 30 NOVEMBER 202$ 11. ENDOWMENT FUNDS Ic#hthitsedl Year ended 30.11.X- MaB2ment clh¥d YO.ILZ4 Ib5sesl PeimanentendowM*ntl. The Reliel in Need Fund 66.IC6 13961 527 66,236 The Glèziers. Trust Ftsnd The Lever &nd Ashton Hill Awafds Fund The Edward Boydell Library Fund The Stsined Glass Repository Fund The Cutter Trust Fund The Master Glailerfs Fund 215A14 274,164 14.270 W).488 7.272 19.622 621.230 17471 12,0251 1871 14861 992 291 115 231.659 274,830 14.298 80,648 7,272 19,661 628,368 118 157 4.601 13.4631 £687.335 £6.(YY) 1£3.8591 £S.J28 E694.604 12. RESTftICTEO FUNDS Year ended 3th112S: Tw•Mler5 •laDr¢ OL1124 30.11.25 The Glaziers. Trnst Fund The lever and Ashton Hill Awards Fund The Edward Boydell library Fur¥J The Relief in NeÈd Fund The Stained Glass Repository Fund Tho Cuttei Trust fund The Glazier< Educatbon Partnew5h The Mastef Glazierfs Fund 133.llil 821 33,121 1,298 37.873 6.395 20.632 77.838 3.043 12.901 551 2525 15.427 1.691 3.750 16.784 E62509 122.2981 1271 28.476 6.919 23.157 74888 111.9)41 155531 125001 1875 1£50.7391 12.4731 819 1.739 23.645 £164.122 7.736 £UO.885 1£2.4731 £33.940 I'l-see note 16. 25
THE GLPIIERS. FOUNDATION (Company number 07rJ79341 (Charity number.. 11437(h)I NOTESTO THE ACCOUMF5 Ic¢)nithuedl FOR IHE YEAR ENDED 30 NOVEMBER 2025 12. AESYRicfED RJNOS Itontinu•dl Year ended 30.11. Trun5tews B•l•n OLII In% Iuossesl 80.11.24 The Glaziers. Trust FurKI The Lever and Ashton Hill Award5 Fund The Edward Boydell bbrary Fund The Reliefin Need Fund The &ained Gla$5 Reposirory Fund The CutterTfust Fund The GlaiiÈis' Education Parthershui The MasterGlaiiePs Fund 137.5771 134,2301 27.001. 133,1211 38.246 5.631 14629 71,798 3.659 114 17.SX)3 764 3503 13.306 1.789 5.438 2.795 118.Z761 37,873 6.39S 20,632 77.838 3,041 115001 I75) 12.40SI .0631 13.9501 289 8A91 7.736 E109391 E57.183 I2.979} f289 £27.001 £tr.a5 I'1-See note l& Detailsof restricted fijnds.. The restricted incomefundswereestablkhed to recelve kncomefrorniheendo%Trentfvfidslis¢ed in rKJte 11 obove, and from applkabk donatlons. The IlaEierfTrust Fund This lund dre$ from 8enetsl funds transferred to the charity from The Gla¥ers' Trust thatity with effect trom I December 2012. The fund 15 used for the adv•)¢emeni of education and the benefit of the publlc. to further khowledge. understandin4 and appreci•tKn of the art of st•iThed. etthed and othu torms tsf decorative 81¥55 and 8fa5S rnLS&)i<s. provide and preservefi•e examplesof suth art in places where thry may be sÈen by rnembersofthe public. organi5e excursh)nsfor membersof the publict0$sUch places. ft¢rthu the study oF5uch art and rnaintaln a library orlibiartes of book5.purnals and rnaierkwL The Norn A5htw HIN Momorfal Fund Thls fund was e5tabltshed by a donioTr from The Norman Ashton Hill Memorial Fund tharlty to support conservation scholarshlps and profes4onal devdopmeni 8rant5. Grants were made on a reBular bas. Followlng tonsuFtaiion with reknnt parttes. ¢hE Fund wdsmeryed wilh The LeverAward Fund with effect from 30 Novèmber 2022 to fofmlhe LevÈr and Ashton Hill Awards Fd lsee belowl- The ie¥er Award Fwid Thls fund was established by a donat40n fr¢)m a LNerymin and Proded for a ietent graduate a week trainlng placemenElnaselettlonoileadiw$I4?s. GIantsreade3ThUallY. Followfjnicon5ultation th reJevan¢partles, the Fund wa5 rnerged with Ihe Nornian *shion Hitl Mem¢xial Fuj with effectfrom 30 November 2022 to form The LeverandA5hton NlAWardS F4 (see bel. 26
THE GLlE5, FOUNDATION {CompaA¥ number.. D77379341 Ilharlty nLtmber. 11437C¥)I NOTES TQTHE ACCOUNTS Itontlnued} FOR niE YEAR ENDED 30 NOVEMBER 21ll5 12. RESTRICtED FUNDS{téntlnuedl The Leverand Ashton Hill AwardsFuDd After appiopliaie consuliations. Trustees re50hed to mer8eThe Norman Ashton Hill Memorial Fund and Thelever Award Fund with effe¢1 Ertyn 30 November 2022 (see above). Th merged Fund k kn4>wn asThe tever and Ashton Hill Award5 FuThd. The Edward Btydell library Fund The fund wase$tal5herf to payforl1ary?Thd aTcW malthtenance and new purthases. Yhe ReURf In Need Fund Thi5 fvnd derives frorn the pernianent endowment fund transferred io the ¢haiity from Ihe Glazier$' Charity for Relief In Need effeu Irom l December 2012.Thelund is used in making8rants for the relief in cases of need of members of ihe Glaiiers. Company and ther widows and other dependents. and gJbJecl thereto, in makin8 grants In casesof relief in need of personswho are engaged in the8lasstrade4 craftsand wofessK ThÈStsined Glass Rposilory Fund This fund derive5 from general transferyed kn the chariiyfrom The London Stlined GLiss Repository charmv with effectfrorn l Oecember2012.The is fDr thead¥an¢ement of edu¢abon of the publlc in theart of painted. Siait)ed and decorated gla$5 and ihe de¥elopment of wt4i£ appreuatton of Such art by.. lal the provEIDn of repository for thè salvage and stoiage of rnprstOriOUS ÈMampte5 Dfpainted,Siained and decorated 8lassai risk of Ios5 Of dama8e. Iblthe relOCath)n orretingofsalva8ed8ia55in bulbjinOI htorical0r81ch1tertrd intere5tta whlth the public havè at¢e5S. The tutterTNst Fund Thi5 fund derive5 from 8e•eral funds iransfred to ihe tharity from The Glaziers. Cutter Trud charity th effect from l Decernber 2012. The trustees may u5¢thefund to 5UPPOrt such L*8ritsbie InstitLrtioD or institutions 35 thev see fit at thelr ab9)lulediscietlo TheGlathrf Educatlon PartrbeThhlp The Mnd was established in 2022 and 15 to be used io educaie and Inforrn young people of secondary sthool age aboutihe artand ¢tafi ofstained gla55SOthaitheyunenjiryii asanartfom)and alsoopen ihLYr mind5to apossible eaieeraltemative. The Masier Glee$FUnd Ihi5 lund VAS established 25 by Past Master PhillidJ Shaw to provtde fvture Master Glaiiers wlth a fvnd from which they rnake chari&ble donation5 at thelr •b501utedtscretioTh thelr terrns of offi¢e. 27
THEGlER5. FOUNDATION
Icompany numbEr.' 077379341
(Chat number.. 11437CiII
NOTES TO THE ACCOLINTS (Contued1
FOR ThE YEAR ENDED 30 NOVEMBER 2025
13. NET ASSEfs OF THE CHARITY
Ihe tha¥1tS nei asset5 belongi tothevariousfunds as¥t 30 Nfrfember2025 wereas lollows=
Jr
Unrestrtcted Funds
Endowrnent Funds
Re$tritted Funds
20,711
21.292
96.618
20.711
638,723
164.122
617.431
67504
E684.935
E138.621 E823356
AI .ILl02.
Unrestrirted Funds
Endowment Funds
Restrided Funds
27.0
85.300
6Y4.604
120.885
35585
E702.389
E113,100 É81S.489
14 CONTROLLING PARTIES
The tharltable covnpany 4$ under the (rffttrol of Its ItU5tees (who are 8150 direttor5 Under the Companies Art
21)061.
IS. RELATED PARTYTRAN5AalONS
ThoF0undatlOnrnzintainsarqnf a¢¢wnt wththeWcohiplulCoMp•rbyofGl•ziprsand Paint•rs olGlass l-the
Worshlplul Companfl. At the year end the Foundation owed £nll to the Worshipfvl Company12024.. £247 wa5
owed by the FouTrlaiiots to EheWor5hipfvl Ccmpanyl.
Fdlowingrec•pt of aglft of E6.iY)0 5haresduTi5b8 theyè¥ eTraed 30 Movember2024. at thatyeaiend and ar 30
Novernbei 2025 she FouThdation hekl £5600 of weference Shares in Glaiws Hall bm+ted l-GHL-l. a company
thatmanages Gla2iers' Hall (where iheworshlw Company is basedl.These shares are held in the Foundation's
ca4S. Trust Fund. During the vear GHL charEed ihe Foundaiion £131 12024-. £7771 for catering ser¥Ke5 In
reskctof priztrgivwJRevents. meetin8£05t5. etc The5e
THE GLPIIERS. FOUNDATK)N (Company number 071379341 lchavlty number 11437QOI NOTESTO THE ACCOUI4T5 Icontlhuedl FOR THE YEAR ENDED 30 NOVEMBER 2025 16. TRANSFERS BThEEN FUNDS Iconllnued Trustee5 3150 agreed to transfer Q7.001 fr05n unTestri¢ted lund5 to the Glaiw< Trust Fund with effect from 30 Noyernber 202412025=no eguNal1orbsferj inordertoreducethedeficitonthatincomefvnd asat 30 Nember 2024. 17. COMPARATIVESTATÉMENTOF FINANCIAiAcllvrnES Year ended 3Qll.2024 lknrestrlcttd Endgwmeat Re5trfcl Funds Funds Funds {Noie Ill (Notè Iz) Yotsl Fund5 Incomefrom: Voluntary in¢Orne- donations lind. Gift Aid) Investmentincome 26.075 5.843 6.TrJO 21.099 36.QH 53.174 41.887 Other infome 760 Totsi inrome 32.678 57.183 95.861 lunils: lTr¥estrneni mana8einent fees 13A593 12181 14.0771 15.6711 (72,7611 (78.4381 Totalexpendllure 15.677 13.&59 172.9791 I825) Netl af before forth 27,Tr)1 2.141 115.7961 13,346 Transfer t¢ten Thd$ 16 P7.0011 2701 (Losses) on investrnent assets 5.128 5.417 Netm tknlu forthe 7269 11.494 18.763 Total fvndsat beBinTrln8 of pwwjd 687335 109.391 796.726 Total fund £694.604 £120.885 E315.489 TherewerenootheTreco8nlsed8alftsorfosotheTth0Ththe neiincom1 resourceslncluded above. There were nodlscontinuod athities duringthe year. 29