REGLSTERED CHARITY NUMBER: 1145169 TRUSTEES, REPORT AND FINANCIAL, TA TF.MF.NTS FOR'fiiE YEAR ENDED 31ST DECEMBER 2024 OR THE BRITISII S()c.Ii:.'I'y or MASTER GLASS PAINTERS, ClltlRIT AIII.F. TRUST Sbaw Gibb8 (Audit) Limited Chart¢red Certified Accountsnts Sta￿tOry Auditor 25 Si Thorn85 Street Winchester Hampshire S023 9HJ THE BRITISH SOCIETY OF MASTER GLASS PAINTERS, CHARITABLE TRUST co￿TE￿T5 0￿ THF. FINANCIAL STATEME.NTS FOR THE YEAR ENDED 31ST DECEMIIER 2024 Page Reference Admlnffistr8tlve Detalls Trust¢e¥' Report 2 to 4 Report of the Independent Audltors Statement of Fingnclal Aeth4tle$ lanee Sheet C￿￿ FloTrv Statement 10 Notes to the Cash Flow St8t¢ment Notes ts) the Finqnclll Statem¢iiti 12 to 17 Detalled St*tement of Fln2n¢lal Aetlvltles 18 to 19 THE BRITISH SOCIETY OF MASTER GLASS PAINTERS, CHARrrABLE TRUST REFERENCE AND ADMINIST]UTIVE DETAiIS FOR THE YEAR ENDED 31ST DECEMBER 2024 TRUSTEES Mr S B Clarc Mrs S B ShAughnessy Mr A P Tayloi Mr5 C R Wyard M P B8mbrough R M Mulligan Hort P D Conna¢k Hort M L Harrison Hon A E Benyon PRINCIPAL ADDRESS POBox15 Minehead Somerset TA24 8ZX REGISTERED CHARITY NUMBER 1145169 AUDITORS Shaw Gibbs (Audit) Limited Chdrtered Cenified Aecouniants Stawtory Auditor 25 St Thoma$ Str¢ct Winchester Hampshire S023 9HJ Page I THE BRtTISH SOCIETY OF MASTF,R GLASS PAINTERS, CIIARITABLE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED JIST DECEMBER 2024 Thc tn]stee5 present their report with the finwicial siatements of the charity for the year ended 315t D¢ctmb¢r 2024. The trustees have adopted the PTQVlbions L)f Accounting dnd Rtporting by Ch￿'ll]eS.. Staleinenl of R¢comTn¢nd¢d Pra¢iice applicable to ch¥rili¢s preparing thBit accuunts in accordance with tlie Financial RepoTtillg S¢andaTd 3ppliGabl¢ in th UK and Rcpublic of Ir¢land IFRS 102) lefiectivc l January 2Ql 9). Legal and adxlliThi51rdlivc infvrn121ion set out on ihe inforniation page foims part ofthi5 report. OBJECI'IVES AP4D ACTIVITIES Objectives and airn5 The object of the chaTity is to do all tsr any of the following for the benEfit of the public by.. l) th¢ cducatiort of ihc piiblic in the history. aTt. production and conservation of sthined, paintcd. etched. fused, ¢ngrav¢d, suv¢tural, archilectui'al. and all other foiins of glass by cvnducting r¢s¢ard4 lectures, sejninars, confeiences, exhibitions, visits and any other iiieaiis of ¢xehangii)g intomidlioii,. 2) the publi.%hing of sp¢cialistjouma18, ncwslcttcr, and other related publications and the mAin￿nAnce of a library., 3) the provision of 5cholarship5 and gran¥ and any other form of educational provision or suppor( to enable individua15 who would not oth¢nvis¢ b¢ able io do so, to undcrlakc a coursc of study. and 4) the support of training progranimes. including apprenticeships, in Lhe ari and craft of gla55 Iwhether in fornial cducatioiial eslabli5hm¢nls or ¢1s¢whEre) Publlc b¢n¢llt The itUs1¢¢5 Lvnfi¥tn they h2v¢ ¢ompiied with the duty in seclioii L715} of ihe 2011 ChJriti¢s A¢t lo have du¢ regards to guiddtsce publish¢d by the Charity Coinmission on public benefit. ACHIEVEMENT AND PERFORMANCE Charlt2ble ACtlvltle5 The Charitable Trust has continued to carry on the charitable ac¢ivili¢$ previously undcrtAkcn by thc British Socicty of Master Glass Painters compAny limited by guarantee IBSMGP). These activities COLllPi'ised the publicatloll of the annuRI journal ynd quatt¢rly newsletters and the Jnainlenallce of the library The Inst¢es ¢oniinue 10 explore the Possibility of providiT]g s¢holatship& for appj'enlices wishing to take up the ari of glass painting. The Charitable Trust has continucd to be active in supporting members, By distributing 8 ¢ar¢fvlly d¢ssgned quesiionnair¢ to all members. we were able tu identify lh¢ key dr¢dS lrt which m¢mbers ddvised us ihey would appreciate greater support. The main area eme1gin￿ froiii respunscs was in encouraging the creative ai1ist member5 in Showcasing their work. Ac¢ordingly w¢ have committed lo organising a bicnnial cxhibition fL>r members. To this end we hav¢ ¢ommi$siorted new exhibition showcases. and have a current exhibition thith the th¢Tn¢ 'ln5pireii by William Morris.. We hoped thal regulaT exhibition5 may ¢nLourag¢ t]ew members. and this is provin¥ to be ihe case, wilh over 20 n¢w members jOilliDg lo join this exhibilioll. Finally. wc havc rcceived a generous legacy from a deceased ex Society memher of £1.4million which will transfomi the ability of the Charitable TTUSt to 5uppoiI th¢ Att and Craft of siained glass. The TnLStee8 are taking professional advice concerning the inveslmenl slrat¢&y of the new fimds, lo besl serve oiir membcr8hip tuday and for Ilie fvture. Pagc 2 THE BRITISH SOCIETY OF MASTER CLASS PAINTERS, CHARITABLE TRUST TRUSTF,F.S' IIF.PORT FOR THE YEAR ENDED 31 ST DECEI¥IBER 2024 FINANCIAL REVIEW Finsnciil position The incoming resources of the charity are derived from member5 sub5CriPtion5 and donation5 and grants received fro the BSNIGP dnd the Glaziers Tru51, which together with journal advertl5iiig and sales of old jourE)als fmance the production of the annual joumal and the quartcrly ncw51cttcis. Thc cxhibition and Iccturc programTllCS arc financed by contributions of tlie participators and are intendcd to at Icast brcak cvcn. Any eXCC￿ Df income arising from thc above mentioned activities and dividend inLutn¢ ai¢ us¢d lu findn¢e gvv¢rndn¢r dtsd support ¢081s ofNnniti¥ th¢ iharity. Income for tht yC2r from all sources was £1,556.576 whilst expcnditure amounted to £60,564. Unrealiscd losscs on it)v¢sth)ct)Is amounicd 10 £17,275. Tat&l fimds at 31 Dcccmber 2024 amountcd to £1.483,233. Inve5trnent policy and objective5 Th¢ chaTity s¢Ek5 to produ¢¢ the best financial rcturn within an acccptable level of risk. Capital preservatLOlI Is ol importance as wcll as g¢n¢rating & 8table income strcam. Thc irustccs plan to usc thc incomc to further the objcctivcs of the ¢haTIty. Reserves pollcy Thc rcscrvcs of thc Trust are all unre5tricied. It is the policy of the bnstees to use these fviids where n¢cessary in the furtherance of Élle Charity's objeclives whi15t mainthinitsB all adequa￿ bal8n¢¢ 10 enable th¢ Chariiy to cover unfoi'es¢en future expellditure. FUTURE PLANS Th¢ Iru5t¢¢s in¢End to conliDu¢ with existing programmes of journal and newsleltu publications, a[￿Ual conference. exhibitions, leclures and maintenance of a libraiy whilst explurinb lurthei. fundraising opportunitie5 1(k enabl¢ the charity lo provide scholarships and grants and 5UPPDrt of training pro8rammes for ihdividuAls wi%hing to Icarn thc art and craft af glass. STRUCTURE, GOVERNAf4CE AND MANAGEMENT Governlng dtstument The British Socicty of Ma8tcr Glass Painters, Charittsble Trust is a registeted Charity (no.. 11451691 founded by The British Society of Master Glass Painier5 la coinpany Limi￿￿ by G￿r￿mIe¢l und¢r a Trnst d¢ed daied 14 O¢iober 2011. Recruhtment and appointment of new trust¢e$ Trnsiccs shall not bc Ic85 than four. nor more than fifteen competent persons. The first TnL%tees have been appointed for terms of between one and three y¢ars, but futur¢ Trnstees must be appointed for lemis of otTice of three years i]J writing by th¢ S¢tilLii, No formal Jnduclion or Irairting proledures for new Trusices 15 consid¢r¢d necessary. Related pirtie5 Related pat¢i¢s ofthE ch￿ilY are detailed in th¢ notes ofthe accounts. Risk management The Tj'usiees havc a&8csscd die tnajor risks to wliicli the charity is exP08e￿ in p3rli¥ular thvs¥ which I'¢lal¢ to the operations and finallLes of the Charity and ate satisfL¢d thd¢ systems are in place lo mitlg2te exposure 10 the major risks. STATEMENT OFTRUSTEFS, RESPONSIBII.ITIF.S The trustees arc rcsponsible for prep￿illg th¢ Trnsices, Report and the financial swiements in a¢¢ordan¢e with applicable law and Uiiit¢d Kingdom Ac¢ourttins Standards (United Kingdom Generally Accepied Accouniin8 Practice). Page 3 THE BRITISH SOCJF.TY OF MASTER GLASS PAINTERS. CHARITABLE TRUST TRUSTEES, RF.POIIT FOR THE TrTAR ENDEI) 31ST DECEIMBER 2024 STATEMENT OF TRUSTEES, RESPONSIBILITIES- continued The law applicable to ¢haiiLies in Engldnd and Wales. the Charities Act 2011, Charity IAccounl& dnd Reports) Regulaiiong 2008 and the provisions of the trusi deed i'equires the tru5tee5 to prepare fittanc1al stAlemcnls for cach rinancial y¢ar which give z truc and fair vicw of thc state of affair5 of the charity Ènd of the incoming resources and application of resources, including the income alld expenditure, of the ¢h2riry for that period. In preparing those financial staienJ¢nls, the tru5¢eE$ Are required to sclcct Suitable accounting poli¢i¢s and then apply ihern consistently. obsc￿e the Tn¢ihods und piinciple5 in th¢ Charity SORP: make judgem¢nt$ 41)d esliinaies thal dre reasonable and prudent., state whcther appli¢ablc accounting standards have been followed. 5ubj¢¢t to ony material depatturts discloscd and expl*in¢d in the financial sialements., prepar¢ the financial statement5 on th¢ ¢on¢ern basis UtJle$s il 1$ 1￿pprL)prlate to presume that the charily will Lontinue in business. The trustees are responsible for ke¢pinE proper accounting records which disclo5¢ Wlth reasonable acLuraey at any tim¢ rhe fiDancizl positiun of the charity and tu ¢n(ible Ihein to ¢n5urc Ilial th¢ fjnaniial slalcmct]ts coniply witli the Charities Aci 2011, the Charrty (Accouiils and Rcporis} Regulations 2008 aiid thc provision.% of the ITUSt dccd. Th¢y urc ulso r¢sponsibl¢ fthr safeguarding the asscts of the cliai'ity and licllcc for takin&T reasonabl¢ s*ps for th¢ prevention and d¥te¢tion of fraud and other iir¢gularitL¢5. 24 Oct 2025 Approved by order of thc board of tni.41ees on ............................................. and signed on its behalf by.. Mi. S B ClaT¢- fwstee PJ8e 4 REPORT or THF INDE NDENT AUDITORS TO THE T TIIF. IIIIITISII SOCIETY OF ￿lAsTF.R GLA.S PAINI'EIIS, HARI'I-JlBI,I,' TIILI.ST OplDinn We have audited the financiHI Statements of The Brili5h Society of Master Gl&&% Point￿.5, Lharitsble Tru$1 lih¢ 'chariry') ror the ycar endcd 31 sl December 2024 which comprisc tlit Stdtcmcnt of Finan¢ial Activiiics. tht Balance Slicel. the Cagh Flow Sialcment and notes to the financial stateiilL¥lll8. including a sunimary of si8nificai)i accountlll8 poIE¢ie5. The rinancial reporting framework Ihtt has been applied in t]ieii' prcparniion is applicable law and United Ksngdom Accouiitinb Standard¥ (United Kingdom Gcn¢rnlly A¢i¢pted A¢¢ouiiling Practic¢l. In our optnitsn the fiiijiitial 5tatemeiits'. give a tNc and fair vicw of Ihc slate ol Ihe charity's affairs as Al 31st D¢cemb¢r 2024 atld of its in¢oming resource5 and application of resources. lor thc ycar Iheii cnd¢d; have been propcrly prcpared iii acc4)rdance with Uniltd Kingdrtrrn Gencrally Accepted Accounting Practice., and hav¢ brLll pr¢par¢d iii acrordanc¢ with d)e reqiii1¢sncnls of Ihc Charili¢s Aci 2011. Basis for QPiNithD We boiiducl¢d our audil in aCGordance with LlltEinaiional Staiidards on Audiiing IUKI (ISAS (UK)) and appltLable law. Our i-esponEibililie8 Undei. those standard5 ai¢ li￿[￿¢r desLribcd in thc Auditors, l-¢SPOllSLbililie8 for the aiidii of the financial 5tatcmciils sectioii of our report. Wc aTC iiidcpclld2nt of the charity in ac¢ordance wilh thE ethical reqiiircments tli81 are Klevant to our audit of Ihc finaiicial sN-i*menis in the UK. incliiding thc FRC'S Ethical Standard, aiid w¢ have fulfilled nur other ethical r¥spon5ibilitics in aicordanc¢ with Ihcsc L'tquir¢mellts. Wt believe that thc audit cvidcn¢¢ we hav¢ obtained is Sufficient and appropriate lo providc a basis for our opinioD. Concluslons relatlng to golng concer In auditing the financtdl 5tat¢mtnts. we hove concluded thai the trustCC5' usc of the going concern basis of accourtlin8 in the preparation of the finAn¢iL21 siaiemenls is appropriale. Ba5cd on Ihc work we have perlomed. wc havc not identifid any rnateridl unc¢rtaintics r¢l&ting to ¢vcnt5 or conditions that. individually oi. colletiivcly, may ca5t.4ignific8nt doubt on Ihe charity's ability 10 continllc a5 a goin8 ¢ollcem foi a pei'iod of ai1¢8St Iwclv¢ months from when Ihe fiDAJJ¢ial 8LaicinEnts are autho¥is¢d for is5U¥. OUT responsibilities and ihe re5ponsibilitie5 of Ihe tnist¢es with respeci to going conccrn are described in the relevant sections of this rcporL Other infthrmgtlo The Irusleeg ale respoiisibl¢ for the other Infom￿110n. The othei" information compri.ies the inforniation inclu(kd in the Annuul Rey)rl, other dian the financinl 8tatcments alld our Report of Ihe Indepcndenl Auditors Iher¢L)n. Ollr opinion on the financial sta*menlS does not covcr the otlier infoiMiaÉion llnd. e%ccpi to the extcnt otherwise explicitly staled in our repori, we do noi expr¢.85 8ny (vrm of assurallce ionLlusioii thereoii. Iii coiineciion wtih gur audit ofthc f5Dancial 5tJi¢m¢iii8, our respon%ibiliry is 10 rcad the other iiif0m￿li0th and, in doing W, CQ115idcr whciher the vther iii[otmttijoii is matcrially incortsistcnt with the fil1￿CIal slalLiiieii15 or our knowlcdge obtaiD¢d in th¢ audii ur Liiherwisc appcars to bc matei'ially ￿LSsial¢d. If wr idcntify such iiillteiiol iiicon5isiencies or pparcni inaicrial n11.￿statement.*. IVE are required 10 detemiine whcthcr this givc5 ri*e LO a mJLerial Ini5siaicmeiit in thc rinartLial st3tcrncnt5 theinsclves. 11, based ilie WQTk wc hav¢ perfortned, we ¢oiicliide thdt Il)er¢ Is a tnlllcrial tnisstatcmenl of ihis other inforjnation, we aTe r¢quircd to report tli&t tact. We liave noihing lo report in thi5 rcgdLd. Mlltters on Ivhich we are requircd tTh report by exL¢ptiDn We have iiothing lo rcport in respcct of Ilie fvllowing mal:ei7 wh¢re the Chsrities {AccouniS and REPOrts) Rcgulatiorts 2008 rcquirc5 us 10 rcport 10 you if, In our opinion= thc information given In Ihe trtiiieG5 Repon is incon81Stent in any moterial T25pect the financial statements. or SU￿1¢1¢￿1 2lCOUnting records have noi bcen kept; vr the financial stat¢ments are not in a¥reement with the accounting records and retyms. or wc have not re¢¢ived all tht information and explanation% we rcquir¢ lor OUT aiidit. Page 5 REPORT OF THF. INDEPEYI DENT AUDITORS TO THF. TRUSTEES OF THE BRITISH SOCIETY OF MASTER GLASS PAINTERS, CHARITABLE TRUST Re8ponsibllitle5 of trustees As explained mole fully in Ihe Statement of Trus(ees' Responsibilities. tlie Iru5tees w'e responsible for the preparation of the fjnancial 5tat¢tncnt% which give a truc and fair view, und foi such inicmal control as thc tn￿tc¢s determine is fteccssrtry to ¢nablt the prepararion of financial statements that are fre¢ from mat¢iial misslatemeiiL whether due to fraud or error. In preparing the financial statemcnis, th¢ tN.8tees are rcsponsiblc for a5SC55ing thE chaiiry's abiliry to coniinue as a going concern, di%clo8iiig, as applicablc, matters relatEd 10 going ¢on¢ern aiid using the going concern basis of accounting unless the ttust¢¢s ¥ith¢i intend Its liguidaie Ihe Lharily or to cease operauoiib, or have iio r¢alislic altvnative but to du 50. Our YespoDslbllltle$ for the %Ludit of the financlal staiem¢nts W¢ hav¢ be¢n appointed as auditors under SEftiun 144 of the Chariti¢s Aet 2011 and report in accordance with the Act and relevant reBulalions niade or having effect Ihercundcr. Our objectives are to obtain reasonable assurance about whether the fittancial statements as a whole ar¢ free from mai¢rial missiatenienl. wheiher due to fraud or erruT, and to Jssue a Report of the Independent Auditors that iticludes our opinion. Reasunable as.%UTance is a high levcl of as.surancc, hul is noi a guarantec ihat an audit conducted in acGordanGC Wlth ISAS IUKI will always dcteci a matei'ial tnisstaiement when it exists. Misstsiements Cart arise from fraud or ¢tTor and are COLisidei'ed maierial if, individually or in the aggi'egaie, they could reasonably b¢ expected to influenc¢ the econoDiiC d¢cisiiTrns of useTS taken on the basis of diese financial statement5. The cxtent io which our procedllrcs arc capable of detecting irregularities. including fraud is detail¢d below.. Bec¥4USe (Trf the inherent limilalions of an audit, Ilitr is a Issk that we will nL)I drtecl all Irrcgularilies. including Iliose leading to a rnaterial ynis%tatem¢ni in the finan¢i21 Staiements or non-compliancc with regulation. Tbi8 risk increase5 the more complianec with a IAW or regullltion is rcmovcd from thc events &nd transactions Teflec*d in the financial statements. a5 WE will bE l¢ss lik¢ly to be￿rne awar¢ ofillstsnces of non Lojnpliance. The risk 15 also gTeuler re¥￿dIng irreguldrilies OLLurin¥ due (o fraud ratlier than tlTor. as fraud involv¢5 intentionaL conccalmcnt, fDfgcryJ coIIuslUTh, 0rn185ron OT mi.sirprc5cntalion. We obtained an undtrstandingF of ti)e l¢bJ¥l Jnd r¢8ulatory fr2m¢work dpplicdble lo the charity via discussions witli the trustees and our Previous knowledge of the charity. Thig idct)Iificd that thc most signiticant laws and regulations relatc to the foTm and conieni of thc fit)a11¢121 statements such as the Charities Act 2011. thc Charities SORP IFRS 1021 and FiHan¢ial Rep(Jrtiiig Siandard 102. The ctwity cojnpties with these laws atuj regulation5 by u8ing appiY)priately qu&lified prof¢bsionals to prepar¢ Ihe finan¢ial staiements. As part of our planlling proccss we assessed Susceplibiliiy of tjic charitys financial ststcmcnls lo material mis8tateJnenis, including how fraud might occui. by making on a5se5srnent of Ihe key risks. The key risks identified in respect of The British Socirly of Master Gla55 PainL¢i% Chaiiidbl¥ Trust is rnanagement override and eligibility of charithbl¢ giving. The tru51ees Lonfirtned nu aLlual. suspectcd or allcged cases of fraud. Based on this assessment we designed our audii pro¢¢dur¢s ro addre$$ th¢se key risk areas with an emphasis on testing the inLome alid gititLS un th¢ inv¢stttLents, and the ¢h2l'ltable donations mad¢. A fv11hcr d¢￿riptIOn of our respcinsibilities fDr thc audit of thc finaiicial statcmcnts i8 loc&tcd on Ihc Financial RepL)rting Collncil's website 21 https'.IAvww.frc.org.llkllibraiylstandard8-cod¢s-policylaudit-assurance-and-ethics This de5cripiion forms PaTI vf vui R¢purl vf the Ind¢p¢nd¢oi Auditors. Other matter5 whith we are required to Addre55 The charitable trust was previously audit exempl and (her¢fore the comparatives at¢ unaudited. Page 6 REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF TIIE BRITISH SOCIETY OF MASTER GLASS PAINTERS, CHARITABLE TRUST Use of onr report This reporl is made solely to the charity's irus¢ees, as a body, in accordance with Part 4 of (he Charities (Accounts and Reports) Regulations 2008. Our audit work has b¢en undertaken so thai we might statc to the charity'8 tN8tccs those m&tters we are rcquircd to statc to them in all auditors, report and for no other purpos¢. To the fullest ¢xt¢ni perniitted by law, we do not ac¢ept or assume respollsibility 10 allyone other than the charity and the charity's trustees as a body, for our audit work, for this r¢port, or for the opinions w¢ havc fonncd. loEs Ct&knkJ Shaw Gibbs (Audit) Limited Chartered Ceilified ArGountsnts Statutory Audiior 25 St Th0￿￿5 Street Win¢hesi¢r HatllP5hirc S023 9HJ Date= . Shaw Oibbs (Audit) LAmited is eligible lo acl a5 an oudiior in tern￿ of S¢¢iion 1212 of the Compallies Act 2006. PAge 7 THE BRITISH SOCIETY OF MASTER GLASS PAINTERS, CHARITABLE TRUST STATEMF.h'T OF Flh'ANCIAL ACTIV'ITIF.S FOR TJIE YEAR ENDED 31ST DECEMBER 2024 2024 Unre5trlcted fund5 2023 Total fund5 Notes If4COME AND ENDOWMENTS FROM Don&tions and lcgacics 1.494.309 26,734 Ch¥rltable a¢tlvltle$ Journal Newslcttcr Confercncc Lecture5 Admini5tyation Exhibiiion & Evcnts 7,053 5,632 499 16.372 1,529 144 4,313 500 1,133 150 6.135 Inves¢m¢nt in¢om¢ 47,296 1'0¢91 1 $56 $76 EXPENDITURE OF4 Ch4Tlt¥bl¢ 4cllvltleJ Joutnal Newslcttcr Conference Administration Exhibition & Events 17.128 4,318 13J98 21,828 3,892 16,232 2,996 13,066 16.106 3,067 TotAI 60.564 Net gaill￿(losses) on investments 17 2751 NET tNCOME 1,47&737 3,756 RECONCILIATION OF FUNDS Total futjds brought forward 4,490 740 TOTAL FUNDS CARRIED FORWARD 1.483.233 4.496 The noies turni paii ￿f these financial statement5 Page 8 TIIE BRITISII SOCIETY OF fvIASTER GLASS PAIISYERS, CHARITABLE TRUST BALANCE SHEET 31ST DECEMBER 2024 2024 Unrtstrleted thnds 2023 Total funds NotEs FIXED ASSETS Invesknents 1,182,715 CURRENT ASSETS D¢bwrs C&8h at bank 12 4,091 306 108 2,499 3111,IY9 11,933 CREDITORS Amounts falling due within one year 13 (9,691) (7,437) NET CIJRRENT ASSETS 300 508 TOTAL ASSETS LESS CURRENT LIABIIJTIES 1,483,233 4.496 NET ASSETS 1483 233 Fuf4DS Unrestylc￿d limds 14 483 233 TOTAL FUNDS The finan¢ial statements were approved by the Board of T]uste￿ and authorised for issue ort . and were signed on its belthlf by.. 24 Oct 2025 Mr S B ClaTe- Trnstee The not¢8 fomi part of th¢8e financial statements Page 9 THE BRITI CIETY OF MASTER GLASS PAir(rERS' CHARITABL TR CASH FLOW STATEMEN FOR THE YEAR ENDED 31ST DECEMBER 2024 2024 2023 Notes Cash flows operAtlng acilvltles Cash generated from operdtions 1449 378 Net cash provided by operatin8 activitL 1449 378 Cash flows frorn investing actlvltles Purchasc of fuLed &￿et invesknents Interestreeeived (1,200.IKIO} Net cash (used in)Iprovided by investing a¢tivities 1152 704 Change in and ¢0sh equlvalents I the repordng perlod Cash #nd cash equlvfjlents g4t the beglnnlng of the repordng period 296,674 4,871 Clih elgh tqulvalents at the of the reportlng perlod 31)6 IQ8 The hotC5 fonn part of thesc fitjancial 5¢atements Pag¢ 10 THE BRtTISH SOCIETY OF MASTER GLASS PAINTERS, CHARITABLE TRUST NOTES TO THE CASH FLOW STA TEMENT FOR THE YEAR ENDED 31ST DECEMBER 2024 RECONCILIATION OF NET INCOME TO NET CASEI FLOW FROM OPERA TIP4G ACTtvmES 2024 2023 Net Incorne for the reportlng period (as per the StAt¢ment of Flngn¢lal AttLVltles) Adjustments for: Losses on investh)ents Interest received Increase in debtors In¢rea5e in creditors 1,478,737 3,756 17.275 147.2961 (I,5921 Net eAsh provlded by optratlons 1.449J78 4,871 ANALYSIS OF CHANGES IN NET FUNDS At l.L.24 C88h flow At 31.12.24 N¢t ¢a$h Cash at bank 296 674 306 1011 9,434 296,674 306,108 Total 9,434 296 674 306,1011 Th¢ not¢s fomi part of these fjnancial statemcnts Pagell THC BIIITISH SOCIF.TY OTr f*lASTER GLASS PAINTERS, CHARfTABLE TRUST OTF.S TO 'fHF. Fll¥4ANCIAL ST ATF.Mf.N'l FOlI'fiiE YEAR ENDED 3 1ST Dll CEMIIEII 2024 STATUTORY INFORMATION The British Society ofMast¢r Glass Painter5, Charitable Trust is a ¢harity registered in England and WalE5. The charity's regist¢r¢d number and ie8isiered address Gan be found in th¢ TnIst¢￿' Report. ACCOUNTING POLICIES Bas15 ofpreparillg the fln4n¢lal statements The financial sthtemei)t8 nf the chai'ity, which is a public benefii entity under FRS 102. have been pr¢pated in accordance with lh¢ Charities SORP {FRS 1021 'ALCLlUlitittg 2nd Repvrling by Charities.. Stateintnl of R¢¢tsmmertded Practice applicable (o charitie% preparing their accDunts In accordance with thc Finan¢ial Reporting Standard applicable in the UK und Republic of Ircland (FILS 1021 (cffc¢tive l January 2019),, Fsnancial Rcporting Standard 102 Th¢ FiDan¢ial Reporiing Stsndard appliGabl< itl the UK atjd R¢publiL of Ir¢land' and Ihe Charilieb Act 2011. The finaDcial statement5 have been prepared uoder the liislorical cost convention, as rtjodified by the rcvaluation of certain a55ets. The f￿aTre1&1 8tat¢m¢nts have b¢en pr¢par¢d io give a'trv¢ and faie view alld hav¢ departBd from th¢ Chariii¢s {AccouDrs and Repoits.) Regulation5 2008 only to the ¢xt¢nt ￿qUirEd to provide a 'tNe and fair vicw,. This departure has involved following the A¢¢ountirtg and Reporting by Ch&ritie8.' Ststement of Recomrnended Practicc applicable to charilies pr¢pating thetr accounts in accordallcc with rhe Financiiil R¢pVrtin￿ Siandard applicable in the UK an(L R¥publi¢ of Ireland i&su¢d in October 2019 Tath¢r Ihan the A¢countirtg dnd Reportin8 by Charities.. Statemeni tst'Recommended Practice effeclive from l April 2005 which lias since been withdrawn. Income All income I'ecogni5ed in the Stat¢iD¢ni of Financial Activities once the chai'ity has entitl¢rn¢nt tu the fi￿0$, it is prob¥4ble tbdt the incom¢ will be ieceiv¢d and Ihr dtnuunt can be measured reliably. Income is deriv¢d frorn members, subscription%. wants, donation% and Journal rcvcnuc. No expen5¢s &rc ncttcd off in¢ome. The mon¢iary value of voluntcer limc and office infi"a5tru¢Nr¢ PFovid¢d by m¢mb¢rs has not been recorded a5 in¢ome or expenditure because th¢ thumber of days and hours. value per hour and value of facilities provided is ind¢t¢rtninate. Legaties Le8acies are Tecogni5cd an receipt or othcrwisc if the charity has bccn notificd of an impcnding distribution, thc amount 15 known, alld receipt is expected. If thc amount is not known, tiie legacy is tttated as a coniing¢nt ass¢t. Expendltur¢ Liabilitics arc recognised a5 expenditure %QlTrD a5 IheT¢ 15 a IEgal or conslrnctsve obli82iion committing the charity lo that cxpenditut¢, it is probAble Ihai a transfer of economic bcncfits will be required in settl¢m¢nt and the a]nount of th¢ obli¥utivn lan be m¢asured reliably. Expenditure 18 accounted for on an accTuals basis and has been c12ssifJed under headings that aggrcgate all cost related to the category. Wherc costs c2nnr)I b¢ diTCCtIy attTibuled iv tydrlicular headings ilicy have been allocated to activitlC5 011 a basis consisteiit willi th¢ usc of r