##
|||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)|
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||||||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|
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||||||||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|
##
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|||||||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|
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|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|||
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||||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|
##
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||||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|
##
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##
|||||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|
##
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##
|||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|
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|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|
##
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##
|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|
##
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|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|
##
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##
||||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)|
##