2023-06-30-accounts - The Worshipful Company Of Carmen Benevolent Trust

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Report	ofthe	Trustees		I -5
Audit	Report			6-8
Statement of		Financial	Activities
Balance	Sheet			10
Notes	to the	Accounts		I I-IS

			Unrestricted	Capital	Year to	Year to
					30June	30June
			Operating	Endowment	2023	2022
		Notes	Funds	Funds	Total	Total
Incoming Resources			E	E	E	E
Donations and Legacies			34,066		34,066	36,920
Investment Income			18,904		18,904	18,138
Total Income			52,970		52,970	55,058
Expenditure
Charitable Activities:
Grants Payable			78,633		78,633	105,833
Support Costs			5,478		5,478	7,449
Legal Fees			1,300		1,300	1,885
Costs of Raising Funds
Investment Management Costs				16,087	16,087	16,696
Total Expenditure			85,411	16,087	101,49&	131,862
Net Income/(Expenditure)
before (Loss)/Gain	on		(32,441)	(16,087)	(48,528)	(76,804)
Investments
Gross Transfers between Funds			32,974	(32,974)
Net (Loss)/Gain on Investments				62,742	62,742	(127,323)
Net Movement in Funds			553	13,681	14,214	(204,127)
Reconciliation ofFunds
Total Funds Brought Forward			(8,084)	2,041,638	2,033,554	2,237,681
7 4 1 F d C 1	d F	d	~7,551	2,055,319	2,047,765	2,033,554

						Year to	Year to
				Unrestricted	Capital	30June	30June
				Operating	Endowment	2023	2022
			Notes	Funds	Funds	Total	Total
Fixed Assets				E	E	E	E
Investments					2,055,319	2,055,319	2,041,637
Current Assets
Debtors				4,580		4,580	9,495
Cash at Banl&				21,289		21,289	24,201
Amount due from Worshipful
Company	of Carmen
				25,869		25,869	33,696
Creditors:
Amounts Falling Due Within One
Year
Grants Payable				(31,552)		(31,522)	(29,500)
Accrued Expenses				(1,900)		(1,900)	(2,280)
Net Current
Assets				(7,552)		(7,552)	1,9 I6
Total Assets Less Current Liabilities				~7,552	2,055.319	2.047,767	2.043,554
Amounts Due Over			One
Year
Grants Payable							(10,000)
Net Assets				~7,552	2,055,319	2,047,767	2,033,554
Funds
Operating				(7,552)		(7,552)	(8,084)
Carmen Heritage		Fund			2,055,319	2,055,319	2,041,637
				~7,552	2,055,319	2,047,767	2,033,554

(CHARITABLE INCORPORATED ORGA	(CHARITABLE INCORPORATED ORGA	(CHARITABLE INCORPORATED ORGA	(CHARITABLE INCORPORATED ORGA	(CHARITABLE INCORPORATED ORGA	NISAT	ION)
NOTES TO THE ACCOUNTS ASAT 30					JUNE	2023 (Continued)
						Year to	Year	to
Investment Income						30June 2023	30June	2022
Dividends - UK Equities						2,677		4,865
Dividends - Overseas Equities						15,957		13,236
Interest - other						271		37
Total						18,905		18,138
Grants Payable						2022/23	2021/22
							6
King Edwards School						14,335		3,167
Freemans School + prize fund						8,776		400
Necessitous Carmen								2,000
Aldgate School						(250)		24,510
Beyond Food								3,000
Ukrainian Refugees appeal						10,000		20,000
Collins memorial Fund	(Save the Children				&	1,000		2,000
Sussex Cancer Fund)
Universify Education						5,500		5,500
Liveries Company Platinum		Jubilee						500
St Pauls Girl Choristers								500
St Pauls Cathedral Fund						2,000		2,000
Guildhall School of Music and Drama						6,000		6,000
Voices						5,000		5,000
Treloars (hoist)								7,000
JCT SPEAR						8,000		8,000
Christs Hospital						13,522		14,340
London Taxi Drivers Magic		Taxi	Tour	Paris		1,500		1,400
Carmen Livery Schools	Pack							1,264
Mayoral Charities						3,000
British Red Cross (Mayoral)						250
Provision writebacks								(748)
Total						78,633	105,833
Movement in Recognised Grant
Commitments
Grant commitments recognised period			at start of			39,500		10,582
Paid in period						(19,500)		(9,834)
Write back of provision						(10,000)		(748)
New Provisions in year	2022/23					21,522		39,500
Grant commitments recognised			on 30June		2023	31,522		39,500
New provisions in year	2022/23		represent
payments to be made to:
Christs Hospital						13,522
Ukraine Schools						5,000
Spear						3,000
								Page	J 16

							Year to	Year to	Year to
5.	Support Costs					30June 2023		30June 2022
	Worshipful Company		of	Carmen: Administration			6,000		6,000
	Awards and Medals
	Bank Charges						(1,144)		164
	Office Costs and	Printing,		Postage &Stationery			623		1,284
	Audit and Accountancy		Fees				1,300		1,885
							6,779		9,333
	The trustees received		no	remuneration		and were not reimbursed	for any of their	expenses	in the
	period.
	The charity had	no employees			during	the period.
							Year to	Year to
						30June 2023		30June 2022
6.	Investments
	Market Value on	I July	2022				2,041,637		2,208,805
	Acquisitions at Cost						1,118,240		1,266,875
	Sale Proceeds from Disposals						(1,216,565)		(1,290,773)
	Net (Loss)/Gain	on Revaluation					34,650		(171,361)
	Market Value on	30June		2023			1,977,963		2,013,546
	Cash held for Reinvestment						77,357		28,091
	Total Investments	and	Cash on		30June 2023		2,055,319		2,041,637
	Apportioned:-
	Permanent Endowment		- 65%				1,335,957		1,327,064
	Expendable Endowment			- 35%			719,362		714,573
							2,055,319		2,041,637
								Page ( 17