2023-04-30-accounts

		Page
Legal and administrative information		1-2
Trustees' report		3 - 11
Independent auditor's	report	12-14
Statement offinancial	activities	15
Balance sheet		16
Statement ofcash flows		17
Notes to the financial	statements	18-31

Charity registration	Charity registration	number	1150776
Registered	office		PO Box270
			Guildhall
			LONDON
			EC2P2EJ
Auditor			IDS Chartered Accountants		LLP
			23/25 Queen Street
			COLERAINE
			Co Londonderry
			BT52 1BG
Bankers			Danske Bank
			Corporate Banking Centre
			PO Box183
			BELFAST
			BT16JS
Investment	managers		Cazenove Capital Management
			1 London Wall Place
			LONDON
			EC2Y SAU
			CCLA Fund Managers	Ltd
			1 Angel Lane
			LONDON
			EC4R 3AB
Solicitors			Elliott Duffy Garrett
			40 Linenhall Street
			BELFAST
			BT2 SBA

List ofTrustees 2022-23
Governor:	Alderman Sir William Bowater	Russell
Deputy Governor:	Wendy Hyde (to 09/03/23)
Deputy Governor:	Edward Lord OBE, JP, Deputy	(from 09/03/23)
Aldermen:	Robert Howard
	Gregory Jones
Commoners:	John Absalom, Deputy (to 09/03/2023)
	James Bromiley-Davis, (from 09/03/2023)
	Anne Corbett (from 19/05/2022)
	Peter Dunphy, Deputy (to 09/03/2023)
	Mary Durcan
	John Foley (from 09/03/2023)
	John Griffiths (from 09/03/2023)
	Christopher Hayward, Deputy (to 09/03/2023)
	Shravan Joshi, MBE, Deputy
	Eamonn Mullally (from 19/05/2022)
	Hugh Selka (from 09/03/2023)
	Oliver Sells, KC
	Philip Woodhouse, Deputy
	Dawn Wright

				Unrestricted	Restricted	Total	Total
				funds	funds
				2023	2023	2023	2022
			Notes	E	E	E	F
In m dowm	ts fr
Donations and grants Other trading activities			3 4	30,000 340,143	50,000	80,000 340,143	70,000 320,319
Investment income Other income			5 6	253,075 4,144		253,075 4,144	256,823 1,683
Total income				627,362	50,000	677,362	648,825
~Ex&~en igZ~
Managing funds			7	6,598		6598	19165
Charitable activities			8	589,452	40,000	629,452	556,355
Total resources expended				596,050	40,000	636,050	575,520
Trading surplus/(deficit)				31,312	10,000	41,312	73,305
Net unrealised gains/(losses)		on investments	14	(294,209)		(294,209)	(192,206)
Net movement in funds				(262,897)	10,000	(252,897)	(118,901)
Fund balances at 1 May	2022			12,162,296	156,130	12,318,425	12,437,325
Fund balances at 30April 2023				11,899,399	166,130	12,065,529	12,318,425

				2023		2022
		Notes		6		6
Fixed assets
Tangible assets		15		691,016		707,517
Investment properties		16		3,802,000		3,802,000
Investments		17		7,308,941		7,603,150
				11801 957		12,112,667
Current assets
Debtors		19	190,954		184,921
Cash at bank and in	hand		261,114		252,648
			452,068		437,569
Creditors: amounts	falling due within
one year		20	(188,497)		(231,810)
Net current assets				263,571		205,759
Total assets less current liabilities				12,065,529		12,318,425
Income funds
Restricted funds				166,130		156,130
~Urestric eddas
General unrestricted	funds		11,724,478		11,987,374
Revaluation reserve			174,921		174,921
				11,899,399		12,162,295
				12,065,529		12,318,425

						2023		2022
				Notes				f
Cash flows from operating			activities
Cash absorbed by operations				25		(234,418)		(156,412)
Investing activities
Purchase oftangible fixed	assets				(3,592)		(2,691)
Purchase of investments							(151,438)
Schroders fees deducted	at source				(6,598)		(10,006)
Investment income received					253,075		256,823
Net cash generated from	investing
activities						242,885		92,688
Net cash used in financing			activities
Net increase/(decrease)	in	cash and		cash
equivalents						8,467		(63,724)
Cash and cash equivalents		at	beginning	ofyear		252,648		316,372
Cash and cash equivalents			at end of	year		261,114		252,648

				Unrestdcted	Restricted	Total	Total
				funds	funds
				2023	2023	2023	2022
				k		S	F
Donations	and grants			30,000	50,000	80,000	70,000
Forthe year ended		30April 2022		30,000	40,000		70,000
Donations	and gifts
Grant from	Drapers				20,000	20,000	20,000
Clothworkers grant					20,000	20,000	20,000
Annual contributions		to small grants
2021-22 (6th year of		10)		30,000		30,000	30,000
Drapers to	Co-Operation		Ireland		10,000	10,000
				30,000	50,000	80,000	70,000

			Unrestricted	Unrestricted
			funds	funds
			2023	2022
				6
Commercial	property	rent	173,162	169,186
Fishing, coarse, game		and sporting	166,981	151,133
Other trading	activities		340,143	320,319

				Unrestricted
				funds	Total
				2023	2022
				f	f
	Dividends	-equities		253,075	256,823
6	Other income
				Unrestricted
				funds	Total
				2023	2022
				5
	Other income			4, 144	1,683
7	Managing	funds
				Unrestricted
				funds	Total
				2023	2022
				5	5
	Investment	management	fees	6,598	19,165
				6,598	19,165

				Education	Community	Environmental	Total
					Development	Protection &	2023	Total
						Improvement		2022
						6		6
Grant funding ofactivities
(see note	9)			142,923	74,817	26,459	244,196	232,065
Share of	support costs (see
note 11)				68,154	68,154	204,462	340,770	287,355
Share of	governance		costs
(see note	11)			8,896	8,896	26,689	44,481	36,936
				219,973	151,867	257,610	629,452	556,355
Analysis	by	fund
Unrestricted		funds		198,918	132,924	257,610	589,452
Restdcted	funds			21,057	18,943		40,000
				219,975	151,867	257,610	629,452
Forthe year		ended	30April	2022
Unrestricted		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

			Education	Community	Environmental		Total	Total
				Development	Protection	&	2023	2022
					Improvement
			2023	2023	2023
			6	f
Grants to institutions:
Advisory	Committee		30,421	28,084	7,959		66,464	63,549
Clothworkers			6,464	13,536			20,000	19,500
Drapers			14,593	5,157			'I9,750	20,000
London	Budget		91,895	27,540	18,500		137,935	106,263
To Co-operation		Ireland						22,500
Other			(2,700)				(2,700)
			140,673	74,317	26,459		241,446	231,812
Grants to individuals			2,250	500			2,750	250
			142,923	74,817	26,459		244,196	232,062

Support costs
				Support	Governance	2023	2022
				COStS	COSts
				f	f
Staff costs				192,730	39,458	232,188	218,415
Depreciation				20,093		20,093	19,673
Rent, rates, insurance	&	utilities		26,522		26,522	17,938
Repairs &maintenance				17,970		17,970	9,105
Advertising, PR, & printing				1,514		1,514	293
Telephone				2,972		2,972	2,617
Computer &website	costs			1,011		1,011	947
Motor &travel				28,508		28,508	19,006
Legal &professional	(Nl	property)		30,227		30,227	30,594
Audit &accountancy				2,029		2,029	1.,884
Bad debt provision				12,279		12,279
General (office sundries,		stationery,	subscriptions)	4,919		4,919	3,680
Audit fees					2,400	2,400	2,400
Accountancy					1,600	1,600	1,600
Legal fees (non-property)					1,023	1,023	(3,859)
				340,770	44,481	385,251	324,291
Analysed between
Charitable activities				340,770	44,481	385,251	324,291

The average	monthly number of full time equivalent em	ployees during the year was:
		2023	2022
		Number	Number
Direct charitable activities
Administration
Employment	costs	2023 E	2,022f
Wages and salaries		180,669	171,201
Social security	costs	19,667	17,292
Other pension	costs	31,852	29,922
		232,188	218,415

	2023	2,022
	Number	Number
860,001-670,000	1	1

					Unrestricted	Total
					funds
					2023	2022
					6
Net	unrealised	gains/(losses)	on	investments	(294,209)	(192,206)

						Listed	Other	Cash held by	Total
						investments	investments	investment
								manager
						6	6
	Cost orvaluation
	At 1 May	2022 8 30	April 2023			7,599,574	2	3,574	7,603,150
	Carrying	amount
	At 30April	2023				7,599,574	2	3,574	7,603,150
	At 30April	2022				7,599,574	2	3,574	7,603,150
18	Financial	instruments						2023	2022
								f	F
	Carrying amount of			financial assets
	Instruments	measured		at fair value through	profit	or loss		7,308,658	7,599,574
19	Debtors
								2023	2022
	Amounts	falling due		within one year:				f	6
	Trade debtors							131,328	113,248
	Other debtors							51,654	64,450
	Prepayments and accrued income							7,971	7,223
								190,954	184,921
20	Creditors:	amounts	falling due within one		year
								2023	2022
								6	6
	Other taxation and social security							31,707	38,791
	Trade creditors							1,829	5,191
	Other creditors							128,650	166,380
	Accruals and deferred			income				26,311	21,448
								188,497	231,810

	Valuation date					31 March 2022	31 March	2019
	Value ofassets (smoothed)					51,370m	F1,063m
	Value of liabilities					f1,404m	61,176m
	Funding level ofaccrued benefits					98%	g0
	Investment return on future	contributions		per annum		4.6%	5.7%
	Investment return on accumulated		assets	per annum		4.6%	5.7%
	Pension increases per annum					2 9%	2 6%
	Rate ofprice inflation					29%	2.6%
22	Analysis ofnet assets between		funds
		Unrestricted		Restricted	Total	Unrestricted Restricted		Total
			2023	2023	2023	2022	2022	2022
				6	f	6	8
	Fund balances at 30
	April 2023 are
	represented by:
	Tangible assets	691,016			691,016	707,517		707,517
	Investment properties	3,802,000			3,802,000	3,802,000	3,802,000
	Investments	7,308,941			7,308,941	7,603,150	7,603,150
	Current assets/(liabilities)	263,570			263,570	205,759		205,759
		12,065,529			12,065,529	12,318,425	12,318,425

			2023	2022
			f	F
Within	one	year	550	550

		2023	2022
			f
Aggregate	compensation	85,414	82,236

Cash generated from operations	Cash generated from operations		2023f	2022f
Deficit for the year			(252,897)	(118,901)
Adjustments for:
Investment income recognised	in statement	offinancial activities	(246,477)	(237,658)
Fair value gains and losses on	investments		294,209	192,206
Depreciation and impairment oftangible fixed assets			20,093	19,673
Movements in working capital:
(Increase) in debtors			(6,033)	(16,242)
(Decrease)/increase in creditors			(43,313)	4,510
Cash absorbed by operations			(234,418)	(156,412)