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2021-12-31-accounts

REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021

Charity Number: 1169753

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

CONTENTS Page
Reports
Reference and administrative information 1
2
Independent 7
Financial Statements
Statement of financial activities 8
Balance sheet 9
Cash flow statement 10
Principal accounting policies 11
Notes to the financial statements 14

HALL CHARITY

REFERENCE AND ADMINISTRATIVE INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2021

The Trustees present their report and audited financial statements for the year ended 31 December 2021 audited financial statements for the year ended 31 December 2021
Governing Instrument Constitution of the Charitable Incorporated Organisation
dated 18 October 2016 and amended on 20 September 2018
Trustees M W L Randall
 Chairman
M Ashley LVO
S R R Bourne
L F H Denton
S Mahurter
The Ven L J Miller
G M B Pick OBE
Principal Office
Ave Maria Lane
London
EC4M 7DD
Charity registration number 1169753
Independent Examiner Andrew Broome ACA
Haysmacintyre LLP
10 Queen Street Place
London
EC4R 1AG
Bankers Royal Bank of Scotland plc
London Drummonds Branch
49 Charing Cross
London
SW1A 2DX
Investment Managers Brewin Dolphin
12 Smithfield Street
London
EC1A 9BD
Solicitors Farrer & Co LLP
66 Lincoln's Inn Fields
London
WC2A 3LH

1

FOR THE YEAR ENDED 31 DECEMBER 2021

The financial statements have been prepared in accordance with the accounting policies set out on pages 11 to 13 of the the Statement of Recommended Practice o FRS102 second edition issued in 2019).

Structure, governance and management

2016 with the charity number 1169753. It was approved for Gift Aid on 15 March 2017. The Constitution was amended on 20 September 2018 to add an extra power to provide and administer a library. The Trustees meet at least quarterly to review their strategy and actions in support of their objectives, to consider investment and grant making proposals, and to ensure their policies on reserves and risk management are kept up to date.

with specialist assistance, whilst always ensuring that the ultimate responsibility for man with the Trustees. The areas in which this support is offered are as follows:

The induction process for a newly appointed Trustee comprises a meeting with the Chairman at which the aims and eport and Statement of Accounts and copies of the last

2

HALL CHARITY

FOR THE YEAR ENDED 31 DECEMBER 2021

Structure, governance and management (continued)

The Constitution provides that there should be seven Trustees, four who must be appointed by the Court of Assistants of The Worshipful Company of Stationers and Newspaper Makers and three independent Trustees, one each nominated by the Bishop of London, Historic England and The National Archives. As set out in the Constitution, Trustees appointed by the Worshipful Company of Stationers and Newspaper Makers are appointed for a term of two years and independent Trustees are appointed for a term of three years. Any person retiring as a charity trustee is eligible for reappointment. A charity trustee who has served for three consecutive terms may not be reappointed for a fourth consecutive term but may be reappointed after an interval of at least one year.

The Trustees during the year under review and to the date of approval of the accounts were:

----- Start of picture text -----
Trustee Appointed/resigned
Court Assistant Michael Binyon Appointed 18 October 2016, re-appointed 18 October
2019 and retired 20 July 2021
Court Assistant Martin Randall Appointed 20 July 2021
Past Master Tom Corrigan Appointed 18 October 2016, re-appointed 18 October
2018, re-appointed 18 October 2020 and retired 31
January 2021
Liveryman Sarah Mahurter Appointed 3 April 2018, reappointed 3 April 2020
Liveryman Lucy Denton Appointed 3 December 2019
Liveryman Stephen Bourne Appointed 26 January 2021
Martin Ashley (nominated by Historic England) Appointed 18 October 2016, re-appointed 17 October
2019
The Ven Luke Miller, Archdeacon of London Appointed 18 October 2016, re-appointed 18 October
(nominated by the Bishop of London) 2019
Geoff Pick (nominated by The National Appointed 10 August 2017, re-appointed 10 August 2020
Archives)
----- End of picture text -----

Key management personnel

The Trustees work closely with the administrator, who is the only employee and works part-time. Details of employee

Objectives and activities

Sta for the public benefit as follows:

and Archive for public tours. The Company organises these tours through the Public Access Committee. Members of the Company act as tour guides on a voluntary basis.

3

FOR THE YEAR ENDED 31 DECEMBER 2021

Objectives and activities (continued)

Regular tours of the Hall, the Archive and the adjacent church of St Martin-within-Ludgate began at the start of 2018 and continued until March 2020, when they were suspended due to the COVID-19 restrictions. The Hall closed in January 2021 for redevelopment works and it is planned to reopen in summer 2022.

Committee. The Trustees expect to disburse funds on specific Hall development projects, following applications submitted to them by the HPEC. Once these bids are approved by the Trustees, funds are to spend on the relevant projects.

Public benefit

The Tr aims and objectives and in determining its grant-making policy. The Trustees consider that all of the aims and objectives detailed in this report are there in order to benefit the public and that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission.

Achievements and performance

2021 has continued to be an incredibly challenging year due to the global pandemic. The Hall was closed from mid-March 2020 due to the pandemic and then from January 2021 due to the redevelopment works so no public access was allowed. The Hall buildings and Archive have not been opened for public access at all in 2021 (2020 31.5 hours). Nil people have visited (2020 - 529). There were no paid physical tours in 2021 although 35 people attended 2 virtual tours , which generated donations of £90 (2020 - £5,260 - website (https://stationers.org/public access.html). 27 virtual events (2020-18) were held in 2021 with a total of 1,955 attendees (2020-1,175), of which 759 were members of the public (2020-206). There were no visits by researchers to the Tokefield Centre, which contains the archive storage and reading rooms (2020 - 7). However, there were 88 remote research queries (2020 49), all of which were answered by the Company Archivist. Information about accessing the https://www.stationers.org/company/access-to-thestationers-archive).

The Trustees have disbursed funds on specific Hall development projects following applications submitted to them by the 1, one bid was approved by the Trustees totalling £1M for the construction costs and professional fees for the Vision 350 project including air-cooling and associated passive measures. The building work commenced in January 2021 and is currently scheduled to be completed by June 2022. Delays have been caused by archaeological finds (fragments of bones and shells, 17[th] century pottery fragments and medieval floor tiles) and buried asbestos, which has combined with the supply of materials (especially steel) and manpower being affected by a combination of Covid and Brexit.

Royalties of £6.5k (2020 - £14.4k) were received from Adam Matthew Digital relating to online access to Literary Print .

Future plans

The Trustees will continue to disburse funds on specific Hall development projects, having to date distributed grants of £1.7m towards the £7.8m project cost both its historic importance and its current day usability, accordingly there is a long-term fund-raising ambition to assist in ensuring that the Hall continues to be fit for purpose.

4

FOR THE YEAR ENDED 31 DECEMBER 2021

Financial review

The net deficit for the period before investment gains was £930,607 (2020 surplus of £274,060). Unrealised/realised losses on investments for the period were £8,455 (2019 losses of £248). After taking into account these losses, the net deficit was £939,062 (2019 surplus of £273,812). The net assets were £336,841 (2020: £1,275,903).

Investment policy and performance

the Ven L J Miller. Following the retirement of T S Corrigan, S R R Bourne was appointed in his place. In turn, the committee has delegated, on a discretionary basis, the management of its investment funds to Brewin Dolphin.

was to generate a return of RPI plus 4% per annum over the long term, after expenses. The charity adopts a total return approach to investment, generating the investment return from income and capital gains or losses. However, in 2021, in view of the likely call for approved projects, a more cautious short-term policy was pursued.

On 28 January 2021, the portfolio was liquidated to meet anticipated grant payments. In January 2022, cash funds of £37,743 relating to the Friends of the Archive Appeal Permanent Endowment Fund were used to purchase units in the CCLA COIF Charity Ethical Fund.

Reserves policy

As at 31 December 2021 , in the amounts set on page 9:

Expendable Endowment discretion. These funds were expended completely in 2021.

Permanent Endowment Funds that have been donated with the intention that they are held in perpetuity for the charity to generate income. The source of these funds is the Friends of the Archive Appeal, which was established to provide for the long-term security for the Sta

Restricted Funds that have been raised for and whose issue is restricted to a specific purpose or contributions restricted to a specific purpose.

Unrestricted

October 2016 (amended on 20 September 2018).

The Trustees anticipate the disbursement in the near future o Hall with particular emphasis on educational purposes and improvement of public access. There is also a fundraising campaign to raise additional funds for these objectives.

The Trustees disbursed £1m in early 2022 educational purposes and improvement of public access. There is also a fundraising campaign to raise additional funds for these objectives.

The Trustees intend to

Risk management

most significant risk is associated with t on its investments to mitigate risk as far as possible. However, an element of risk still remains although with the investments related to the Hall Enhancement Fund being paid out as a grant in the first quarter of 2022 this risk presently only relates to the Library Fund.

The Trustees are content that other systems are in place to mitigate general business and operational risk. The Trustees do not believe that there are any other areas of significant risk.

5

FOR THE YEAR ENDED 31 DECEMBER 2021

COVID-19

The Trustees have reviewed the implications of the coronavirus pandemic and their current view is as follows:

and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements, the Trustees are required to:

transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Financial statements and Reports) Regulations 2008 and the provisions of the Charity Commission Scheme. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Trustees on 10 May 2022 and signed on their behalf by:

Martin W L Randall Chairman

6

INDEPENDENT EXAMINER REPORT

TO THE TRUSTEES OF

pages 8 to 20.

Respective responsibilities of trustees and examiner

The trustees are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to:

examine the financial statements under section 145 of the 2011 Act;

to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and

to state whether particular matters have come to my attention.

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the financial statements in the statement below.

In connection with my examination, no matter has come to my attention:

have not been met; or

Andrew Broome ACA On behalf of Haysmacintyre LLP Chartered Accountants 10 Queen Street Place London EC4R 1AG

Date: 13 June 2022

7

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2021

Unrestricted Restricted Endowment Year Year
Fund Funds Fund 2021 2020
INCOME FROM: Notes £ £ £ £ £
Donations 1 35,782 40,538 - 76,320 367,562
Investments 2 635 3,959 - 4,594 27,889
Charitable activity
Hall Tours		 90 - - 90 5,260
------------------- --------------------- --------------------- ----------------- -----------------
Total Income 36,507 44,497 - 81,004 400,711
------------------- --------------------- --------------------- ----------------- ------------------
EXPENDITURE ON:
Raising funds
Investment management costs 3 322 709 1,596 2,627 2,569
Charitable activities
Education and learning - Hall 3 1,809
Tours
3 91,955 534,542 382,487 1,008,984 122,273
---------------- -------------------- -------------------- ----------------- -----------------
Total expenditure 92,277 535,251 384,083 1,011,611 126,651
---------------- --------------------- --------------------- ----------------- ----------------------
Net (expenditure)/income
before investment losses (55,770) (490,754) (384,083) (930,607) 274,060
Losses on investments 6 (1,035) (2,019) (5,401) (8,455) (248)
---------------- --------------------- --------------------- ---------------------- ----------------------
Net income/(deficit) for the (56,805) (492,773) (389,484) (939,062) 273,812
period and net movement in
funds
Fund balances brought
forward 212,349 635,952 427,602 1,275,903 1,002,091
Fund balances carried --------------------- --------------------- --------------------- ---------------------- ----------------------
forward at 31 December 155,544 143,179 38,118 336,841 1,275,903
========== ========== ========== =========== ===========

The statement of financial activities includes all gains and losses in the period.

The notes set out on pages 11 to 20 form an integral part of these financial statements.

8

Charity Number: 1169753

HALL CHARITY

BALANCE SHEET

AS AT 31 DECEMBER 2021

2021
Notes
£
£
FIXED ASSETS
Investments
6
38,118
CURRENT ASSETS
Debtors
7
13,899
Investments
6
836,700
Cash at bank
454,236
~~--------------~~
1,304,835
CURRENT LIABILITIES
CREDITORS - amounts falling due
within one year
8
(1,006,112)
NET CURRENT ASSETS
298,723
~~--------------------~~
TOTAL ASSETS LESS CURRENT
LIABILITIES
336,841
~~--------------------~~
TOTAL NET ASSETS
336,841
~~==========~~
FUND BALANCES
Endowment fund
9
38,118
Restricted funds
10
143,179
Unrestricted fund
155,544
~~--------------------~~
336,841
~~==========~~		 2020
£
£
887,731
38,351
-
357,000
~~--------------~~
395,351
(7,179)
388,172
~~--------------------~~
1,275,903
~~--------------------~~
1,275,903
~~==========~~
427,602
635,952
212,349
~~--------------------~~
1,275,903
~~==========~~		 2020
£
£
887,731
38,351
-
357,000
~~--------------~~
395,351
(7,179)
388,172
~~--------------------~~
1,275,903
~~--------------------~~
1,275,903
~~==========~~
427,602
635,952
212,349
~~--------------------~~
1,275,903
~~==========~~
~~--------------------~~
1,275,903
~~--------------------~~
1,275,903
~~==========~~
427,602
635,952
212,349
~~--------------------~~
1,275,903
~~==========~~

The notes set out on pages 11 to 20 form an integral part of these financial statements.

The financial statements were approved and authorised for issue by the Trustees on 10 May 2022 and signed on their behalf by:

Martin W L Randall Chairman

9

CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2021

----- Start of picture text -----
--------------------- ---------------------
--------------------- ---------------------
454,236
========== ==========
------------------- -------------------
========= =========
----- End of picture text -----

No reconciliation of net debt has been provided as the charity has no borrowings.

The notes set out on pages 11 to 20 form an integral part of these financial statements.

10

PRINCIPAL ACCOUNTING POLICIES

FOR THE YEAR ENDED 31 DECEMBER 2021

The principal accounting policies adopted, judgements and key sources of estimation and uncertainty in the preparation of the financial statements are laid out below.

Basis of preparation

The financial statements have been prepared under the historical cost convention with items initially recognised at cost or transaction value unless otherwise stated in the relevant accounting policy or notes to the financial statements. Investments are restated at market value at the balance sheet date and the differences arising dealt with through the Statement of Financial Activities.

The financial statements have been prepared in accordance with the Statement of Recommended Practice for Charities (SORP 2015, second edition, effective 1 January 2021) and the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

The financial statements are presented in sterling and are rounded to the nearest pound.

Critical accounting estimates and areas of judgement

Preparation of the financial statements may require the Trustees to make significant judgements and estimates. However, there were no material matters relating to the current or prior years where such judgements or estimates were required.

Going concern

The Trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The trustees have made this assessment in respect of a period of one year from the date of approval of these financial statements.

The Trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern.

11

PRINCIPAL ACCOUNTING POLICIES (continued)

FOR THE YEAR ENDED 31 DECEMBER 2021

Income recognition

Income is recognised in the period in which the charity has entitlement to the income, the amount of income can be measured reliably and it is probable that the income will be received.

Donations are recognised when the charity has confirmation of both the amount and settlement date. Donated investments are initially recognised at their fair value at the date of the donation.

Legacies are included in the statement of financial activities when the charity is entitled to the legacy, the executors have established that there are sufficient surplus assets in the estate to pay the legacy, and any conditions attached to the legacy are within the control of the charity.

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank or other institutions.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to make a payment to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. Expenditure comprises direct costs and support costs. All expenses, including support costs, are allocated or apportioned to the applicable expenditure headings. The classification between activities is as follows:

Grants payable are included in the statement of financial activities when approved and when the intended recipient has either received the funds or been informed of the decision to make the grant and has satisfied all performance conditions. Grants approved but not paid at the end of the financial year are accrued. Grants where the beneficiary has not been informed or has to fulfil performance conditions before the grant is released are not accrued for but are disclosed as financial commitments.

Support costs and governance costs are allocated to expenditure headings based on an estimate of time spent. These allocations have been reviewed and agreed by the Trustees.

12

PRINCIPAL ACCOUNTING POLICIES (continued)

FOR THE YEAR ENDED 31 DECEMBER 2021

Investments

Listed investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price.

Realised gains (or losses) on investment assets are calculated as the difference between disposal proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value at that date. Realised and unrealised investment gains (or losses) are combined in the statement of financial activities and are credited (or debited) in the year in which they arise.

Debtors

Debtors are recognised at the settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material.

Cash at bank and in hand

Cash at bank and in hand represents such financial statements and instruments that are available on demand or have a maturity of less than three months from the date of acquisition. Deposits for more than three months but less than one year have been disclosed as short term deposits. Cash placed on deposit for more than one year is disclosed as a fixed asset investment.

Creditors and provisions

Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material.

Fund accounting

The permanent endowment fund comprises monies which must be held indefinitely as capital.

The expendable endowment fund comprises monies which may be held indefinitely as capital but which may be expended

Restricted funds represent monies raised for or their use restricted to, a specific purpose, or contributions subject to donorimposed conditions. Restricted income generated from the expendable endowment may be expended in line with the terms of the endowment or transferred to the endowment capital if unspent.

Unrestricted funds represent those monies which are freely available for application towards achieving any charitable

13

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

1. DONATIONS AND LEGACIES
2021
Unrestricted Restricted Endowed
Funds Funds Funds 2021
£ £ £ £
Donations
- - -
Other 35,782 40,538 - 76,320
------------------- --------------------- ------------------ ------------------
Totals 35,782 40,538 - 76,320
========= ========== ========= =========
2020
Unrestricted Restricted Endowed
Funds Funds Funds 2020
£ £ £ £
Donations
- - - -
Other 35,974 331,588 - 367,562
------------------- --------------------- ------------------ ------------------
Totals 35,974 331,588 - 367,562
========= ========== ========= =========
2. INVESTMENT INCOME
2021
Unrestricted Restricted Endowed
Funds Funds Funds 2021
£ £ £ £
Income from listed investments 526 3,959 - 4,485
Interest receivable 109 - 109
-------------------- --------------------- ------------------ ------------------
Totals 635 3,959 - 4,594
========== ========== ======== ========
2020
Unrestricted Restricted Endowed
Funds Funds Funds 2020
£ £ £ £
Income from listed investments 3,464 24,338 - 27,802
Interest receivable 87 - - 87
-------------------- --------------------- ------------------ ------------------
Totals 3,551 24,338 - 27,889
========== ========== ======== ========

14

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2021

3. ANALYSIS OF EXPENDITURE
2021
Direct Grants Support Total
costs costs (note 4) 2021
£ £ £ £
Raising funds
Investment management cost 2,627 - - 2,627
Charitable expenditure
Education and learning - -
- 1,000,023 8,961 1,008,984
-------------------- --------------------- --------------------- --------------------
Totals 2,627 1,000,023 8,961 1,011,611
========== ========== ========== =========
2020
Direct Grants Support Total
costs costs (note 4) 2020
£ £ £ £
Raising funds
Investment management cost 2,569 - - 2,569
Charitable expenditure
Education and learning 1,809 - - 1,809
- 113,881 8,392 122,273
-------------------- --------------------- --------------------- --------------------
Totals 4,378 113,881 8,392 126,651
========== ========== ========== =========

15

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2021

4. SUPPORT COSTS

5.

2021 2020
£ £
Other Support costs
Other 867 226
Governance cost
Trustee meetings - 12
Staff (note 5) 5,154 5,154
/audit fee 2,940 3,000
--------------- ---------------
8,961 8,392
======== ========
2021 2020
£ £
Wages and salaries 4,164 4,164
Social security costs 574 574
Pension costs 416 416
--------------------- ---------------------
5,154 5,154
========== =========

to one employee, the administrator. The total remuneration paid to key management personnel in the year was £ 5,154 (2020 - £5,154).

No Trustee received remuneration or expenses from the charity. The total donations received by the charity from the Trustees was £2,240 (2020: £205)

6. INVESTMENTS

INVESTMENTS
2021 2020
£ £
Market value at 31 December 2020 822,106 771,586
Additions 799,912 315,296
Disposals (743,523) (264,528)
Realised gain/ (loss) 25,384 (10,503)
Unrealised (loss)/gain (33,839) 10,255
--------------------- ---------------------
Market value at 31 December 2021 870,040 822,106
Cash held within investment portfolio 4,778 65,625
--------------------- ---------------------
Total investments at 31 December 2021 874,818 887,731
========== ==========
Historical cost at 31 December 2021 874,824 853,898
========== ==========

Of the total investments of £874,818 (2020: £887,731), £836,700 was held as current assets at the balance sheet date (2020: £Nil) and £38,118 (2020: £887,731) held as fixed assets. The current assets investments were paid out in early 2022.

16

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2021

7. DEBTORS

2021 2020
£ £
Other debtors 10,754 37,896
Worshipful Company of Stationers and Newspaper Makers 3,145 455
- -
------------------ ------------------
13,899 38,351
======== ========
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£ £
Worshipful Company of Stationers and Newspaper Makers 1,002,494 2,494
Other creditors - 996
Accruals 3,618 3,689
---------------- ----------------
1,006,112 7,179
======== ========
9. ENDOWMENT FUNDS
2021
1 31
January December
2021 Income Expenditure
Transfers		 2021
£ £ £ £ £
Permanent endowment fund 38,596 - (478)
-		 38,118
Friends of the Archive Appeal
Fund
Expendable endowment - Hall 389,006 - (389,006)
-		 -
Enhancement Fund (previously
Hall Preservation Fund)
------------------- --------------------- ------------------- ----------------- -------------------
427,602 - (389,484)
-		 38,118
========= ========== ========= ======== =========

of the Archive Appeal Fund. This Fund was established to provide for the long-

archival heritage. On 20 December 2018, the Charity Commission filed the

17

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2021

9. ENDOWMENT FUNDS (continued)

The investments of the Hall Enhancement Fund were transferred to the charity in 2017 from the Worshipful Company of Stationers and Newspaper Makers. The use of the fund is restricted for the direct and incidental and the capital of the fund and may accumulate unspent income into the capital. For clarity, in 2021, the Trustees renamed this fund as Hall Enhancement Endowment Fund.

2020 1 31
January December
2020 Income Expenditure Transfers 2020
£ £ £ £ £
Permanent endowment fund 38,720 - (124) - 38,596
Friends of the Archive Appeal
Fund
Expendable endowment - Hall 492,801 - (103,795) - 389,006
Enhancement Fund (previously
Hall Preservation Fund)
-------------------- --------------------- ------------------- ----------------- -------------------
531,521 - (103,919) - 427,602
========= ========== ========= ======== =========

The Hall Enhancement Fund is described above.

10. RESTRICTED FUNDS

2021

2021
1 31
January December
2021 Income Expenditure Transfers 2021
£ £ £ £ £
Hall Enhancement Fund 500,320 36,927 (537,247) - -
(previously Hall Preservation
Fund)
Library Fund 135,632 7,570 (23) - 143,179
-------------------- --------------------- ------------------- ----------------- -------------------
635,952 44,497 (537,270) - 143,179
========= ========== ========= ======== =========
2020
1 31
January December
2020 Income Expenditure Transfers 2020
£ £ £ £ £
Hall Enhancement Fund 162,472 338,538 (690) - 500,320
(previously Hall Preservation
Fund)
Library Fund 129,980 17,388 (11,736) - 135,632
-------------------- --------------------- ------------------- ----------------- -------------------
292,452 355,926 (12,426) - 635,952
========= ========== ========= ======== =========

18

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2021

10. RESTRICTED FUNDS (continued)

The Hall Enhancement F

11. ANALYSIS OF NET ASSETS BY FUND

2021

The net assets of the charity at 31 December 2021 are analysed as follows:

Endowment Restricted Unrestricted Total
Funds Funds Funds 2021
£ £ £ £
Fixed asset investments 38,118 - - 38,118
Current asset investments 493,777 235,824 107,099 836,700
Current assets - 333,733 134,402 468,135
Current liabilities (493,777) (426,378) (85,957) (1,006,112)
------------------- ------------------ ----------------- ---------------------
38,118 143,179 155,544 336,841
========== ========= ======== ==========
2020
Endowment Restricted Unrestricted Total
Funds Funds Funds 2020
£ £ £ £
Investments 428,267 348,121 111,343 887,731
Current assets - 290,325 105,026 395,351
Current liabilities (665) (2,494) (4,020) (7,179)
------------------- ------------------ ----------------- ---------------------
427,602 635,952 212,349 1,275,903
========== ========= ======== ==========

12. RELATED PARTIES AND CONNECTED CHARITIES

Trustees and accordingly is regarded as a related party. The balances between the charity and the Worshipful Company are shown in notes 7 and 8.

Makers and also regarded as a related party. During the year the Foundation charged £5,154 (2020 - £5,154) to the charity in respect of the services of the administrator. The balances Foundation are shown in notes 7 and 8.

Other than the transactions set out above and the transactions with Trustees set out in note 5 there were no further related party transactions requiring disclosure.

19

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2021

13. 2020 STATEMENT OF FINANCIAL ACTIVITIES SPLIT BETWEEN FUNDS

Unrestricted Restricted Endowment Year
Fund Funds Fund 2020
INCOME FROM: Notes £ £ £ £
Donations 1 35,974 331,588 - 367,562
Investments 2 3,551 24,338 - 27,889
Charitable activity
 Hall Tours 5,260 - 5,260
------------------- --------------------- --------------------- -----------------
Total Income 44,785 355,926 - 400,711
------------------- --------------------- --------------------- -----------------
EXPENDITURE ON:
Raising funds
Investment management costs 3 322 629 1,618 2,569
Charitable activities
Education and learning - Hall 3 1,809 - - 1,809
Tours
3 8,392 11,736 102,145 122,273
---------------- -------------------- -------------------- -----------------
Total expenditure 10,523 12,365 103,763 126,651
---------------- --------------------- --------------------- -----------------
Net (expenditure)/income
before investment losses 34,262 343,561 (103,763) 274,060
Unrealised gain/(loss) on 6 (31) (61) (156) (248)
investments
---------------- --------------------- --------------------- ----------------------
Net income/(deficit) for the 34,231 343,500 (103,919) 273,812
period and net movement in
funds
Fund balances brought
forward 178,118 292,452 531,521 1,002,091
Fund balances carried --------------------- --------------------- --------------------- ----------------------
forward at 31 December 212,349 635,952 427,602 1,275,903
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