2022-04-30-accounts

		Page
Charity information		1 -2
Trustees' report		3 - 11
Independent auditor's	report	12-14
Statement of financial	activities
Balance sheet		16
Statement ofcash flows		17
Notes to the financial	statements	18-32
Mission statement		33

Charity	registration	registration	number	1150776
Registered		office		PO Box270
				Guildhall
				LONDON
				EC2P 2EJ
Auditor				Irwin Donaghey	Stockman		LLP
				23/25 Queen Street
				COLERAINE
				Co Londonderry
				BT52 1BG
Bankers				Danske Bank
				Corporate Banking Centre
				PO Box 183
				BELFAST
				BT1 6JS
Investment		managers		Baring Fund Managers		Ltd
				20 Old Bailey
				LONDON
				EC4M 7BF(to August		2021)
				Cazenove Capital Management
				1 London WalI Place
				LONDON
				EC2Y 5AIJ
				CCLA Fund Managers		Ltd
				Senator House
				85 Queen Victoria Street
				LONDON
				EC4V4ET (from	August 2021)
Solicitors				Elliott Duffy Garrett
				40 Linenhall Street
				BELFAST
				BT2 8BA

List ofTrustees 2021-22
Governor:	Alderman Sir William Anthony Bowater	Russell
Deputy Governor:	Wendy Hyde, Deputy
Aldermen:	Robert Picton Seymour Howard (from	10/03/2022)
	Gregory Jones, QC
	Nicholas Stephen Leland Lyons (to 10/03/2022)
Commoners:	John David Absalom, Deputy
	Peter Gerard Dunphy, Deputy
	Christopher Michael Hayward, Deputy
	Charles Edward Lord, OBE, JP, Deputy
	Philip Woodhouse, Deputy
	Mary Durcan (from 10/03/2022)
	Dawn Linsey Wright (from 10/03/2022)
	Oliver Sells, QC (from 10/03/2022)
	Shravan Jashvantrai Joshi, MBE, Deputy		(from 10/03/2022)
	James Henry George Pollard, Deputy	(to	10/03/2022)
	Simon D'Olier Duckworth, OBE, DL, (to 10/03/2022)
	Vivienne Littlechild, MBE, JP (to 10/03/2022)
	Jeremy Lewis Simons, OBE, MSc (to 10/03/2022)
	Hugh Fenton Morris, Deputy (to 24/03/2022)
	lan Christopher Norman Seaton, MBE	(to	10/03/2022)

					Unrestricted	Restricted	Total	Total
					funds	funds
				Notes	2022 6	2022f	2022 6	2021
wme		fr
Donations and grants				3	30,000	40,000	70,000	95,000
Other trading activities				4	320,319		320,319	284,578
Investment income				5	256,823		256,823	270,275
Other income				6	1,683		1,683	4,375
Total income					608,825	40,000	648,825	654,228
x nditure on
Managing funds				7	19,165		19,165	33,913
Charitable activities				8	515,485	40,870	556,355	572,104
Total resources expended					534,650	40,870	575,520	606,017
Trading surplus/(deficit)					74,175	(870)	73,305	48,211
Net unrealised gains/(losses)			on investments	13	(192,206)		(192,206)	1,539,852
Net (outgoing)/incoming	resources				(118,031)	(870)	(118,901)	1,588,063
Other recognised gains and			losses
Revaluation of tangible	fixed	assets						96,581
Net movement in funds					(118,031)	(870)	(118,901)	1,684,644
Fund balances at 1 May	2021				12,280,326	157,000	12,437,326	10,752,682
Fund balances at 30April		2022			12,162,295	156,130	12,318,425	12,437,326

							2022		2021
					Notes	6	F.		E
Fixed assets
Tangible assets					14		707,517		724,501
Investment properties					15		3,802,000		3,802,000
Investments					16		7,603,150		7,653,074
							12,112,667		12,179,575
Current assets
Debtors					18	184,920		168,679
Cash at bank and		in	hand			252,648		316,372
						437,568		485,051
Creditors: amounts			falling due within
one year					19	(231,810)		(227,300)
Net current assets							205,758		257,751
Total assets less		current		liabilities			12,318,425		12,437,326
Income funds
Restricted funds ~Uti t dt	d						156,130		157000
General unrestricted			funds			11,987,374		12,105,405
Revaluation reserve						174,921		174,921
							12,162,295		12,280,326
							12,318,425		12,437,326

						2022		2021
				Notes		E		f
Cash flows from operating			activities
Cash absorbed by operations				24		(156,412)		(106,391)
Investing	activities
Purchase	of tangible fixed	assets			(2,691)		(2,832)
Purchase	of investments				(151,438)
Schroders	fees deducted	at	source		(10,006)		(9,218)
Investment	income received				256,823		270,275
Net cash	generated from	investing
activities						92,688		258,225
Net cash	used in financing		activities
Net (decrease)/increase		in	cash and	cash
equivalents						(63,724)		151,834
Cash and	cash equivalents	at beginning		ofyear		316,372		164,538
Cash and	cash equivalents		at end of	year		252,648		316,372

Depreciation is recognised so as to wnte off the cost or valuation	Depreciation is recognised so as to wnte off the cost or valuation	Depreciation is recognised so as to wnte off the cost or valuation	of assets less their residual	values over
their useful lives on the following bases:
Leasehold land and buildings	Straight line	over 50	years
Motor vehicles and boats	25'%%d straight	line
Furniture and office equipment	20'%%d straight	line

			Unrestricted	Restricted	Total	Total
			funds	funds
			2022f	2022 6	2022 6	2021 6
Donations	and grants		30,000	40,000	70,000	95,000
For the year ended 30April 2021			25,000	70,000		95,000
Donations	and	gifts
Livery company		- Drapers		20,000	20,000	20,000
Livery company		- Clothworkers		20,000	20,000	20,000
City of London			30,000		30,000	25,000
Drapers to	NCS					10,000
Mercers to	NCS					6,500
City of London to NCS						11,000
Other						2,500
			30,000	40,000	70,000	95,000

			Unrestricted
			funds	Total
			2022	2021
				5
Commercial	property	rent	169,186	122,962
Fishing, coarse, game		and sporting	151,133	161,616
Other trading	activities		320,319	284,578

			Unrestricted
			funds	Total
			2022	2021
				6
	Dividends	- equities	256,823	270,275
6	Other income
			Unrestricted
			funds	Total
			2022	2021
			f	5
	Other income		1,683	4,375
7	Managing	funds

			Unrestricted
			funds	Total
			2022	2021
			5	5
Investment	management	fees	19,165	33,913
			19,165	33,913

				Education	Community	Environmental	Total	Total
					Development	Protection &	2022	2021
					6	Improvement f
Grant funding		of activities
(see note	9)			103,686	113,396	14,980	232,062	202,048
Share of	support costs (see
note 11)				57,473	57,471	172,413	287,357	326,971
Share of	governance		costs
(see note	11)			7,386	7,387	22,162	36,935	43,084
				168,544	178,254	209,555	556,355	572,104
Analysis	by	fund
Unrestncted		funds		155,496	150,434	209,555	515,485
Restricted	funds			13,050	27,820		40,870
				168,546	178,254	209,555	556,355
For the year		ended	30April	2021
Unrestricted		funds		181,406	118,167	232,531		532,104
Restricted	funds			18,550	20,700	750		40,000
				199,956	138,867	233,281		572,104

		Education	Community	Environmental		Total	Total
			Development	Protection	&	2022	2021
				Improvement
		2022	2022	2022
		6	6
Grants to	institutions:
Advisory	Committee	23,158	38,291	2,100		63,549	55,864
Clothworkers		6,330	13,170			19,500	20,000
Drapers		5,350	14,650			20,000	19,650
London budget		46,098	47,285	12,880		106,263	65,687
To NCS		22,500				22,500	40,000
		103,436	113,396	14,980		231,812	201,198
Grants to	individuals	250				250	850
		103,686	113,396	14,980		232,062	202,048

Support costs
				Support	Governance	2022	2021
				costs	costs
				6	f
Staff costs				181,620	36,794	218,414	218,501
Depreciation				19,673		19,673	19,295
Rent, rates, insurance	8 utilities			17,938		17,938	17,679
Repairs &maintenance				9,105		9,105	5,064
Advertising, PR, & printing				293		293	750
Telephone				2,617		2,617	1,998
Computer & website	costs			947		947	5,909
Motor & travel				19,006		19,006	12,275
Legal & professional	(Nl property)			30,594		30,594	77,048
Audit 8 accountancy				1,884		1,884	1,884
General (office sundries,		stationery,	subscriptions)	3,680		3,680	2,931
Audit fees					2,400	2,400	2,400
Accountancy					1,600	1,600	1,600
Legal fees (non-property)					(3,859)	(3,859)	2, 720
				287,357	36,935	324,292	370,054
Analysed between
Charitable activities				287,357	36,935	324,292	370,054

The average	monthly number of full time equivalent e	mployees during the year was:
		2022	2021
		Number	Number
Direct charitable activities
Administration
Employment	costs	2022	2,021
			E
Wages and salaries		171,200	169,562
Social security	costs	17,292	17,113
Other pension	costs	29,922	31,826
		218,414	218,501

							2022	2,021
							Number	Number
	660,001-670,000						1	1
13	Net gains/(losses)			on investments
							Unrestricted	Total
							funds
							2022	2021
								6
	Net unrealised		gains/(losses)			on investments	(192,206)	994,358
	Revaluation	of	investment		properties			545,494
							(192,206)	1,539,852

Fixed ass	et invest	ments
				Listed	Other	Cash held by	Total
				investments	investments	investment
						manager
Cost or valuation
At 1 May	2021			7,630,286		22,786	7,653,074
Additions				2,197,369			2,197,369
Movement	in cash	held				(19,212)	(19,212)
Investment	losses - unrealised			(189,212)			(189,212)
Barings investment		management	costs	(9,158)			(9,158)
Disposals				(2,029,711)			(2,029,711)
At 30April	2022			7,599,574		3,574	7,603,150
Carrying	amount
At 30April	2022			7,599,574	2	3,574	7,603,150
At 30April	2021			7,630,286	2	22,786	7,653,074

17	Financial	instruments				2022	2021
						6
	Carrying	amount of	financial assets
	instruments	measured	at fair	value through	profit or loss	7,599,574	7,630,286
18	Debtors
						2022	2021
	Amounts	falling due	within	one year:		8	6
	Trade debtors					113,247	120,235
	Other debtors					64,450	44,234
	Prepayments and accrued income					7,223	4,210
						184,920	168,679

			2022	2021
			F	5
Other taxation	and social security		38,791	24,639
Trade creditors			5,191	21,162
Other creditors			166,380	156,737
Accruals and deferred		income	21,448	24,762
			231,810	227,300

Valuation date			31 March 2019	31 March 2016
Value ofassets (smoothed)			F1,062,901,000	9796,301,000
Value of liabilities			51,175,715,000	5945,576,000
Funding level of accrued benefits			90%	84%
Investment return on future contributions		per annum	9.8%	5.7%
Investment return on accumulated	assets	per annum	9 8'/	5.7%
Pension increases per annum			2.6%	2.4%
Rate of price inflation			2.6%	2.4%

21	Analysis of net assets	Analysis of net assets	between funds
			Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
			2022	2022	2022	2021	2021	2021
			f	6		6	6	5
	Fund balances at 30
	April 2022	are
	represented	by:
	Tangible assets		707,517		707,517	724,501		724,501
	Investment	properties	3,802,000		3,802,000	3,802,000		3,802,000
	Investments		7,603,150		7,603,150	7,653,074		7,653,074
	Current assets/
	(liabilities)		205,758		205,758	257,751		257,751
			12,318,425		12,318,425	12,437,326		12,437,326

			2022	2021
			E	E
Within	one	year	550	550

24	Cash generated from operations	Cash generated from operations	Cash generated from operations				2022	2021
							E	E
	(Deficit)/surpus for the year						(118,901)	1,588,063
	Adjustments for:
	Investment income recognised		in statement		offinancial	activities	(234,664)	(236,362)
	Fair value gains and losses on		investment		properties			(545,494)
	Fair value gains and losses on		investments				189,212	(994,358)
	Depreciation and impairment	of tangible		fixed assets			19,673	19,295
	Movements in working capital.
	(Increase) in debtors						(16,242)	(14,471)
	Increase in creditors						4,510	76,936
	Cash absorbed by operations						(156,412)	(106,391)