##
##
|`Trustees’REPOrt..cccccccccscssscssssssesssensecsnsessuecsecessessesscneenevansensensusceseecsecenesansnsssaeaenecnennensuasecnsensnageaesssssnernssenennersraeraenenaeneneangayes2 `|
|---|
|`IndependentAuditor’sReporttotheMember........2...ccccececesneereesesseseeseseeseneeseneenenranseneesraeersecsensicgacseseesssdestenasseaseaterecarananes16`|
|`StatementofFinancialActivities.........ccccecseeceeeeneeeeeeeneeeneeeeeeeeeecanceeessesueacaeeceasenegeaeeeetenenensansentnusatereertnreansrenerarsereneesenseens19`|
|`IncomeandExpenditureACCOUN............:.cc`
`ccccceceececesbeceseesececcessssesenasessuessussuaseanseeasssniesarsssssesseesessedsnereeeseneeeenaneananeees20`|
|`BalanceSheet...........ccccccsesscssscccceenecsecesceeecesnsnaeceeeessecsesceeeenaersescnsauessesseuegeasseneaeeesersssenscrseseeeeseyesseaaeenseasaceansesssaregeseenseese21`|
|`StatementofCashFIOWS...........ccccceessecsecsecseceeesseeeecsacseeesueeeenanseseeenseneaseeseeerensersenssesecesceeasersesgseengensassessavsngecsssuecassureuesseneas22`|
|`NotestotheFinancialStatements............ccccccesssecssecssseeeerseeseesusessocseceueraceeussepersesssseesaeecsecesesceeserseeseeeeaeeseusaeucsesserseseeeseeey23`|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
## 07 October 2025
##
|||
`2025`|
`2025`||
`2024`|
|---|---|---|---|---|---|
||
`Unrestricted`|
`Restricted`|
`Endowment`|
`Total`|
`Total`|
||`Funds`|`Funds`|`Funds`|`Funds`|`Funds`|
||`£`|`£`|`£`|`£`|`£`|
|`Incomefrom`||||||
|`Donations`|`.`|`76,619`|`-`|`76,619`|`64,692`|
|`Investments`|`725,600`|`17,034`|`3,312,048`|`4,054,682`|`4,220,996`|
|`Other`|
`-`|
`804`|
`-`|
`804`|
`58`|
|`Total`|
`725,600`|
`94,457`|
`3,312,048`|
`4,132,105`|
`4,285,746`|
|`Expenditureon`||||||
|`Raisingfunds:`||||||
|`Investmentmanagementfees`|`-`|`-`|`633,547`|`633,547`|`547,747`|
|`Propertymanagementcosts`|
`180,410`|
`-`|
`-`|
`180,410`|
`161,755`|
|`Totalraisingfunds`|
`180,410`|
`-`|
`633,547`|
`813,957`|
`709,502`|
|`Charitableactivities:`||||||
|`Generalgrants`|`1,286,445`|`15,741`|`-`|`1,302,186`|`11,422,774`|
|`Supportofthetrade`|
`2,454,889`|
`54,683`|
`-`|
`2,509,572`|
`2,334,955`|
|`Totalcharitableactivities`|
`3,741,334`|
`70,424`|
`-`|
`3,811,758`|
`13,757,729`|
|`Total`|
`3,921,744`|
`70,424`|
`633,547`|
`4,625,715`|
`14,467,231`|
|`Net(expenditure)/incomebefore`|`(3,196,144)`|`24,033`|`2,678,501`|`(493,610)`|`(10,181,485)`|
|`transfersandgains`||||||
|`Transfersbetweenfunds`|`3,312,048`|`-`|`(3,312,048)`|`-`|`-`|
|`Netgains/(losses)oninvestments`|`-`|`7,494`|`3,823,966`|`3,831,460`|`15,316,269`|
|`Netincome/(expenditure)and`|
`115,904`|
`31,527`|
`3,190,419`|
`3,337,850`|
`5,134,784`|
|`netmovementinfunds`||||||
|`Totalfundsbroughtforward`|`3,908,522`|`1,593,538`|`160,891,635`|`166,393,695`|`161,258,911`|
|`Totalfundscarriedforward`|
`4,024,426`
|
`1,625,065`
|
`164,082,054`
|
`169,731,545`
|
`166,393,695`
|
##
##
||`2025`|`2024`|
|---|---|---|
||`£`|`£`|
|`Totalincome(includingtransfersfromendowmentfunds)`|`4,132,105`|`14,285,746`|
|`Totalexpenditure`|`(3,992,168)`|`(13,919,484)`|
|`Netgains/(losses)oninvestments`|`7,494`|`40,093`|
|
`Profitfortheyear`
|
`147,431`
|
`406,355`
|
##
|`sat31March2025`
`Companynumber11048746`||||
|---|---|---|---|
|||
`2025`|
`2024`|
||`Note`|`£`|`£`|
|`Fixedassets`||||
|`Heritageassets`|`7`|`540,596`|`540,596`|
|`Investments`|
`8`|
`165,648,949`|
`160,842,546`|
|||
`166,189,545`|
`161,383,142`|
|`CurrentAssets`||||
|`Debtors`|`9`|`83,449`|`252,185`|
|`Cashatbank`||
`7,322,290`|
`12,598,507`|
|||
`7,405,739`|
`12,850,692`|
|`Currentliabilities`||||
|`Creditorsfallingduewithinoneyear`|`10`|`3,863,739`|`4,506,806`|
|`Netcurrentassets`||
`3,542,000`|
`8,343,886`|
|`Non-currentliabilities`||||
|`Creditorsfallingdueinmorethanoneyear`|`10`|`-`|`3,333,333`|
|`Netassets`|
|
`169,731,545`|
`166,393,695`|
|`Funds`||||
|`Endowmentfunds- historicalcost`|`13`|`136,996,784`|`132,746,705`|
|`Endowmentfunds- revaluation`|`13`|`27,085,270`|`28,144,930`|
|`Restrictedfunds- historicalcost`|`13`|`1,526,780`|`1,502,747`|
|`Restrictedfunds- revaluation`|`13`|`98,285`|`90,791`|
|`Unrestrictedfunds`|`13`|`4,024,426`|`3,908,522`|
||
|
`169,731,545`
|
`166,393,695`
|
##
|`Fortheyearended31March2025`|||
|---|---|---|
||
`2025`|
`2024`|
||`£`|`£`|
|`Cashflows fromoperatingactivities`|||
|`Netincome/(expenditure)fortheyearperSoFA`|`3,337,850`|`5,134,784`|
|`Adjustmentsfor:`|||
|`Net(gainslossesoninvestments`|`(3,831,460)`|`(15,316,269)`|
|`Dividends,interestandrentsfrominvestments`|`(4,009,739)`|`(4,081,385)`|
|`Increase/(decrease)indebtors`|`168,736`|`(8,137)`|
|`Increase/(decrease)increditors`|
`(3,976,400)`|
`7,282,077`|
|`Netcashusedinoperatingactivities`|
`(8,311,013)`|
`(6,988,930)`|
|`Cashflowsfrominvestingactivities`|||
|`Dividends,interestandrentsfrominvestments`|`4,009,739`|`4,081,385`|
|`Proceedsfromsaleofinvestments`|`46,434,952`|`52,402,383`|
|`Purchaseofinvestments`|
`(43,791,260)`|
`(44,735,478)`|
|`Netcash(usedin)/providedbyinvestingactivities`|
`6,653,431`|
`11,748,290`|
|`Changeincashandcashequivalentsintheyear`|`(1,657,582)`|`4,759,360`|
|`Cashandcashequivalentsatthebeginningoftheperiod`|`14,745,854`|`9,986,494`|
|`Cashand cashequivalentsattheendoftheperiod`|
`13,088,272`|
`14,745,854`|
|`Analysisofcashandcashequivalents`|||
|`CashatBank`|`7,322,290`|`12,598,507`|
|`Depositswithmaturityinlessthan12months`|
`-`|
`=`|
|`Subtotalcashnotavailabletoinvestmentmanagers`|
`7,322,290`|
`12,598,507`|
|`Cashavailableforinvestmentheldbyinvestmentmanagers`|
`5,765,983`|
`2,147,347`|
|`Cashandcashequivalentsattheendoftheperiod`|
`13,088,273`|
`14,745,854`|
|`Analysisofchangesinnetdebt`|||
|`Cashandcashequivalentsatthebeginningoftheperiod`|`14,745,854`|`9,986,494`|
|`Cashflows`|`(1,657,582)`|`4,759,360`|
|`Cashandcashequivalentsattheendoftheperiod`|
`13,088,272`|
`14,745,854`|
##
##
##
##
##
|||
`2025`|
||
|---|---|---|---|---|
||
`Unrestricted`|
`Restricted`|
`Endowment`|
`Total`|
||`Funds`|`Funds`|`Funds`|`Funds`|
||`£`|`£`|`£`|`£`|
|`VoluntaryIncome`|||||
|`Donationsandlegacies`|
`-`|
`76,619`|
`-`|
`76,619`|
|`TotalVoluntaryIncome`|
`-`|
`76,619`|
`-`|
`76,619`|
|`InvestmentIncome`|||||
|`DividendsandInterest`|`634,139`|`14,467`|`2,758,556`|`3,407,162`|
|`Rent`|`-`|`-`|`155,630`|`155,630`|
|`BankandOtherInterest`|
`91,461`|
`2,567`|
`397,862`|
`491,890`|
|`TotalInvestmentIncome`|
`725,600`|
`17,034`|
`3,312,048`|
`4,054,682`|
|`OtherIncome`|||||
|`Commissiononsaleofmerchandise`|
`3`|
`804`|
`-`|
`804`|
|`TotalOtherIncome`|
`-`|
`804`|
`-`|
`804`|
|`TotalIncome`|
`725,600`|
`94,457`|
`3,312,048`|
`4,132,105`|
|||
`2024`|
||
||
`Unrestricted`|
`Restricted`|
`Endowment`|
`Total`|
||`Funds`|`Funds`|`Funds`|`Funds`|
||`£`|`£`|`£`|`£`|
|`VoluntaryIncome`|||||
|`Donationsandlegacies`|
`-`|
`64,692`|
`-`|
`64,692`|
|`TotalVoluntaryIncome`|
`-`|
`64,692`|
`-`|
`64,692`|
|`InvestmentIncome`|||||
|`DividendsandInterest`|`840,756`|`14,336`|`2,731,541`|`3,586,633`|
|`Rent`|`-`|`-`|`108,807`|`108,807`|
|`BankandOtherInterest`|
`122,623`|
`4,542`|
`398,391`|
`525,556`|
|`TotalInvestmentIncome`|
`963,379`|
`18,878`|
`3,238,739`|
`4,220,996`|
|`OtherIncome`|||||
|`Commissiononsaleofmerchandise`|
`-`|
`58`|
`-`|
`58`|
|`TotalOtherIncome`|
`-`|
`58`|
`-`|
`58`|
|`Total[Income`|
`963,379`
|
`83,628`
|
`3,238,739`
|
`4,285,746`
|
##
##
|`4.`
`Expenditureoncharitableactivities`||||
|---|---|---|---|
|||
`2025`||
||
`Unrestricted`|
`Restricted`|
`Total`|
||`Funds`|`Funds`|`Funds`|
||`£`|`£`|`£`|
|`Generalgrants`||||
|`MuseumofLondon`||||
|`GeneralandAdvisoryGroupLegacyGrants`|`421,339`|`-`|`421,339`|
|`EducationCommittee`|`99,091`|`-`|`99,091`|
|`WardensGrants- General`|`127,939`|`-`|`127,939`|
|`LandmarksProgramme`|`321,881`|`-`|`321,881`|
|`OtherGrants- General`|
`-`|
`15,508`|
`15,508`|
|`TotalGrants- General`|
`970,250`|
`15,508`|
`985,758`|
|`Goldsmiths'Centre`|`1,986,661`|`12,151`|`1,998,812`|
|`Goldsmiths'Centre- CapitalFunding`|`208,000`|`-`|`208,000`|
|`Wardens& OtherGrants- Supportoftrade`|`76,500`|`42,390`|`118,890`|
|`Covid-19FundGrants- Supportoftrade`|`40,000`|`-`|`40,000`|
|`TotalGrants- SupportoftheTrade`|
`2,311,161`|
`54,541`|
`2,365,702`|
|`TotalGrants`|
`3,281,411`|
`70,049`|
`3,351,460`|
|`Charitableactivities(non-grant)`|
`21,917`|
`-`|
`21,917`|
|`TotalGrants& OtherCharitableActivities`|
`3,303,328`|
`70,049`|
`3,373,377`|
|`Supportcosts(seenote5)`|`438,005`|`376`|`438,381`|
|`Totalexpenditure`|
`3,741,333`|
`70,425`|
`3,811,758`|
##
||||||
`2024`||
|---|---|---|---|---|---|---|
|||||
`Unrestricted`|
`Restricted`|
`Total`|
|||||`Funds`|`Funds`|`Funds`|
|||||`£`|`£`|`£`|
|`Generalgrants`|||||||
|`Museumof`|`London`|||`10,000,000`||`10,000,000`|
|`CharityCommittee`||||`462,048`|`-`|`462,048`|
|`Education`|`Committee`|||`126,258`|`-`|`126,258`|
|`WardensGrants`
`-General`||||`103,668`|`-`|`103,668`|
|`Landmarks`|`Programme`|||`385,989`|`-`|`385,989`|
|`OtherGrants`
`-General`||||
`-`|
`3,354`|
`3,354`|
|`TotalGrants`|`-General`|||
`11,077,963`|
`3,354`|
`11,081,317`|
|`Goldsmiths’`|`Centre`|||`1,867,290`|`12,151`|`1,879,441`|
|`Goldsmiths'`|`Centre- CapitalFunding`|||`192,000`|`-`|`192,000`|
|`Wardens& `|`Othergrants`||
`-Supportoftrade`|`58,008`|`33,187`|`91,195`|
|`Covid-19FundGrants`||`-`|`Supportoftrade`|`40,000`|`-`|`40,000`|
|`TotalGrants`|`-Supportof`|`theTrade`||
`2,157,298`|
`45,338`|
`2,202,636`|
|`TotalGrants`||||
`13,235,261`|
`48,692`|
`13,283,953`|
|`Charitable`|`activities(non-grant)`|||
`54,155`|
`-`|
`54,155`|
|`TotalGrants`|`&OtherCharitableActivities`|||
`13,289,416`|
`48,692`|
`13,338,108`|
|`Supportcosts(seenote`|||`5)`|
`419,495`|
`126`|
`419,621`|
|`Totalexpenditure`||||
`13,708,911`
|
`48,818`
|
`13,757,729`
|
##
|||
`2025`||
|---|---|---|---|
||
`General`|
`Supportof`||
||`grants`|`theTrade`|`Total`|
||`£`|`£`|`£`|
|`Unrestrictedfunds`||||
|`ManagementRecharge`||||
|`StaffingCosts`|`174,346`|`61,771`|`236,117`|
|`OfficeCosts`|`87,173`|`30,885`|`118,058`|
||
`261,519`|
`92,656`|
`354,175`|
|`Directcosts`|`41,622`|`42,209`|`83,831`|
|`Totalsupportcosts`|
`303,141`|
`134,865`|
`438,006`|
|`Directexpenditure(seenote4)`||||
|`Grants- General`|`970,250`|`-`|`970,250`|
|`Grants- SupportoftheTrade`|`-`|`2,311,161`|`2,311,161`|
|`Charitableactivities(non-grant)`|
`13,054`|
`8,863`|
`21,917`|
|`Totalunrestrictedfundexpenditure`|
`1,286,445`|
`2,454,889`|
`3,741,334`|
|`Restrictedfunds`||||
|`Directcosts`|`233`|`142`|`375`|
|`Totalsupportcosts`|
`233`|
`142`|
`375`|
|`Directexpenditure`||||
|`TotalGrants- General`|`15,508`|`-`|`15,508`|
|`TotalGrants- SupportoftheTrade`|
`-`|
`54,541`|
`54,541`|
|`Totalrestrictedfundexpenditure`|
`15,741`|
`54,683`|
`70,424`|
|`Totalexpenditureoncharitableactivities`|
`1,302,186`|
`2,509,572`|
`3,811,758`|
##
||||
`2024`||
|---|---|---|---|---|
|||`General`|`Supportof`||
|||`grants`|`theTrade`|`Total`|
|||`£`|`£`|`£`|
|`Unrestrictedfunds`|||||
|`ManagementRecharge`|||||
|`StaffingCosts`||`179,183`|`63,287`|`242,470`|
|`OfficeCosts`||
`89,591`|
`31,644`|
`121,235`|
|||
`268,774`|
`94,931`|
`363,705`|
|`Directcosts`||
`27,774`|
`28,016`|
`55,790`|
|`Totalsupportcosts`||
`296,548`|
`122,947`|
`419,495`|
|`Directexpenditure(seenote4)`|||||
|`TotalGrants`|`-General`|`11,077,963`|`-`|`11,077,963`|
|`TotalGrants`|`-SupportoftheTrade`|`-`|`2,157,298`|`2,157,298`|
|`Charitableactivities(non-grant)`||
`44,829`|
`9,326`|
`54,155`|
|`Totalunrestricted`|`fundexpenditure`|
`11,419,340`|
`2,289,571`|
`13,708,911`|
|`Restrictedfunds`|||||
|`Directcosts`||`80`|`46`|`126`|
|`Totalsupportcosts`||
`80`|
`46`|
`126`|
|`Directexpenditure`|||||
|`TotalGrants`|`-General`|`3,354`|`-`|`3,354`|
|`TotalGrants`|`-SupportoftheTrade`|
`-`|
`45,338`|
`45,338`|
|`Totalrestrictedfundexpenditure`||
`3,434`|
`45,384`|
`48,818`|
|`Totalexpenditure`|`oncharitableactivities`|`11,422,774`
|`2,334,955`
|`13,757,729`
|
##
||`2025`|`2024`|
|---|---|---|
||
`£`|
`£`|
|`ApportionmentofStaffCosts`|`73,631`|`81,241`|
|`Professionalfees(audit,legal)`|`67,063`|`50,165`|
|`TrusteeIndemnityInsurance`|
`7,780`|
`875`|
||
`148,474`
|
`132,281`
|
##
##
||||`2025`|`2024`|`2023`|`2022`|`2021`|
|---|---|---|---|---|---|---|---|
||||
`£`|
`£`|
`£`|
`£`|
`£`|
|`Balance`|`brought`|`forward`|`540,596`|`540,596`|`520,596`|`520,596`|`520,596`|
|`Donations`|||`-`|`-`|`20,000`|`-`|`-`|
|`Balance`|`carried`|`forward`|
`540,596`
|
`540,596`
|
`540,596`
|
`520,596`
|
`520,596`
|
##
||`2025`|`2024`|
|---|---|---|
|`EndowmentFunds`|
`£`|
`£`|
|`Valuationbroughtforward`|`3,452,000`|`4,227,000`|
|`AdditionsatDeemedCost`|`783,273`|`69,602`|
|`NetGainonRevaluation`|`133,727`|`(844,602)`|
|`Valuationcarriedforward`|
`4,369,000`|
`3,452,000`|
|`HistoricalCost`|`1,651,894`|`868,621`|
|`AccumulatedGains`|
`2,717,106`|
`2,583,379`|
|`b)`
`Investments`|||
||`2025`|`2024`|
|`EndowmentFunds`|
`£`|
`£`|
|`Valuationbroughtforward`|`154,723,274`|`146,337,137`|
|`DisposalProceeds`|`(46,432,928)`|`(52,400,517)`|
|`AdditionsatCost`|`43,007,987`|`44,665,876`|
|`NetGain/(Loss)onRevaluation`|`3,690,239`|`16,120,778`|
|`Valuationcarriedforward`|
`154,988,572`|
`154,723,274`|
|`HistoricalCost`|`130,620,408`|`129,161,723`|
|`AccumulatedGains/(Losses)`|
`24,368,164`
|
`25,561,551`
|
##
||`2025`|`2024`|
|---|---|---|
|`RestrictedFunds`|
`£`|
`£`|
|`Valuationbroughtforward`|`519,925`|`481,698`|
|`DisposalProceeds`|`(2,024)`|`(1,866)`|
|`NetGain/(Loss)onRevaluation`|
`7,494`|
`40,093`|
|`Valuationcarriedforward`|
`525,395`|
`519,925`|
|`HistoricalCost`|
`427,110`|
`429,134`|
|`AccumulatedGains/(Losses)`|
`98,285`
|
`90,791`
|
|`c)`
`Movementonunappliedtotalreturn`
`TheFoundationinvestsitspermanentendowmentona `
`totalreturnbasis(seeTrusteesReportforfurtherdetails).Thenote`
`belowsetsoutthemovementsonthepermanentendowmentfundintheyearandshowshowmuchofthepermanent`
`endowmentisrepresentedbythebasevalueofthegift,whichmustberetainedascapital,andhowmuchreflectsthe`
`accumulatedinvestmentreturn(theunappliedtotalreturn).Transfersfromtheunappliedtotalreturntoincomeareguided`|`c)`
`Movementonunappliedtotalreturn`
`TheFoundationinvestsitspermanentendowmentona `
`totalreturnbasis(seeTrusteesReportforfurtherdetails).Thenote`
`belowsetsoutthemovementsonthepermanentendowmentfundintheyearandshowshowmuchofthepermanent`
`endowmentisrepresentedbythebasevalueofthegift,whichmustberetainedascapital,andhowmuchreflectsthe`
`accumulatedinvestmentreturn(theunappliedtotalreturn).Transfersfromtheunappliedtotalreturntoincomeareguided`|`c)`
`Movementonunappliedtotalreturn`
`TheFoundationinvestsitspermanentendowmentona `
`totalreturnbasis(seeTrusteesReportforfurtherdetails).Thenote`
`belowsetsoutthemovementsonthepermanentendowmentfundintheyearandshowshowmuchofthepermanent`
`endowmentisrepresentedbythebasevalueofthegift,whichmustberetainedascapital,andhowmuchreflectsthe`
`accumulatedinvestmentreturn(theunappliedtotalreturn).Transfersfromtheunappliedtotalreturntoincomeareguided`|`c)`
`Movementonunappliedtotalreturn`
`TheFoundationinvestsitspermanentendowmentona `
`totalreturnbasis(seeTrusteesReportforfurtherdetails).Thenote`
`belowsetsoutthemovementsonthepermanentendowmentfundintheyearandshowshowmuchofthepermanent`
`endowmentisrepresentedbythebasevalueofthegift,whichmustberetainedascapital,andhowmuchreflectsthe`
`accumulatedinvestmentreturn(theunappliedtotalreturn).Transfersfromtheunappliedtotalreturntoincomeareguided`|
|---|---|---|---|
|`bytheFoundation'sspendingrule.`||||
|||`2025`||
||`Trustfor`
`.`
`invesment`|`Unapplied`
`TotalReturn`|`i`
`permanent`
`endowment`|
||`£`|`£`|`£`|
|`Investmentat`
`1April2024`|`47,921,647`|`83,542,458`|`131,464,105`|
|`Investmentreturns:`||||
|`Realisedandunrealisedinvestmentgains/(losses)`|`-`|`3,134,212`|`3,134,212`|
|`Incomefrominvestments`|`-`|`3,312,048`|`3,312,048`|
|`Expenditureoninvestmentmanagementfees`|`-`|`(517,670)`|`(517,670)`|
|`Totalreturn:`||||
|`Transferstoincome`|`-`|`(3,312,048)`|`(3,312,048)`|
|`Investmentsat31March2025`|
`47,921,647`
|
`86,159,000`
|
`134,080,647`
|
##
||||`2024`||
|---|---|---|---|---|
||`Trustfor`
`.`
`invesment`||`Unapplied`
`‘TotalReturn`|`ictal`
`permanent`
`endowment`|
|||`£`|`£`|`£`|
|`Investmentat`
`1April2023`||`47,921,647`|`72,482,700`|`120,404,347`|
|`Investmentreturns:`|||||
|`Realisedandunrealisedinvestmentgains/(losses)`||`-`|`11,482,080`|`11,482,080`|
|`Incomefrominvestments`||`-`|`3,238,739`|`3,238,739`|
|`Expenditureoninvestmentmanagementfees`||`-`|`(422,322)`|`(422,322)`|
|`Totalreturn:`|||||
|`Transferstoincome`||`-`|`(3,238,739)`|`(3,238,739)`|
|`Investmentsat31March2024`|
|
`47,921,647`|
`83,542,458`|
`131,464,105`|
|`d)`
`Investmentcash`|||
|---|---|---|
|`Cashheldforthepurposeofinvestingisasfollows:`|||
||`2025`|`2024`|
|`EndowmentFunds`|
`£`|
`£`|
|`Cashavailableforinvestment`|`5,765,983`|`2,147,347`|
||
`5,765,983`
|
`2,147,347`
|
|`TotalInvestmentsvaluationcarriedforward`|`165,648,950`
|`160,842,546`
|
|`Investmentsareheldinthefollowingassetclasses:`|||
||`2025`|`2024`|
||
`£`|
`£`|
|`Investmentproperties`|`4,369,000`|`3,452,000`|
|`Investmentpropertyfund`|`6,210,296`|`6,092,822`|
|`UKequities`|`22,115,122`|`21,306,807`|
|`Overseasequities`|`103,821,215`|`103,195,685`|
|`Fixedinterest`|`17,557,952`|`20,210,331`|
|`Privatemarkets`|`5,809,381`|`4,437,554`|
|`Cash`|`5,765,983`|`2,147,347`|
||
`165,648,949`
|
`160,842,546`
|
##
|`9.`
`Debtors`|`2025`|`2024`|
|---|---|---|
||
`£`|
`£`|
|`InvestmentIncomereceivable`
`Sundrydebtorsandprepayments`|
`44,943`
`38,506`
`83,449`|
`176,744`
`75,441`
`252,185`|
|`10.`
`Creditors`|`2025`|`2024`|
|`Fallingduewithinoneyear`
`Relatedpartycreditors`
`Grantspayable`
`InvestmentManagementfees`
`Rentalincomereceivedinadvance`
`SundryAccruals`|
`£`
`81,676`
`3,671,766`
`63,042`
`22,937`
`24,318`
`3,863,739`|
`£`
`585,262`
`3,695,941`
`134,277`
`9,155`
`82,171`
`4,506,806`|
||`2025`|`2024`|
|`Fallingdueinmorethanoneyear`
`Grantspayable`|
`£`
`2`
`:`
|
`£`
`3,333,333`
`3,333,333`
|
##
||`2025`|`2024`|
|---|---|---|
||
`£`|
`£`|
|`Operatingleasereceiptswhichfalldue:`|||
|`Withinoneyear`|`74,330`|`93,830`|
|`Afteroneyearbutwithinfiveyears`|`115,383`|`191,270`|
|`Laterthanfiveyears`|
`1,520`|
`-`|
||
`191,233`
|
`285,100`
|
##
##
##
||`Balance`||||`Netgain/ `|`Balance`|
|---|---|---|---|---|---|---|
||`brought`||||`(loss)on`|`carried`|
|`2025`|`forward`|`Income`|`Expenditure`|`Transfers`|`investments`|`forward`|
||`£`|`£`|`£`|`£`|`£`|`£`|
|`EndowmentFunds`|||||||
|`PermanentEndowment`|`131,464,105`|`3,312,048`|`(517,670)`|`(3,312,048)`|`3,134,212`|`134,080,647`|
|`ExpendableEndowment`|`29,427,530`|`-`|`(115,877)`|`-`|`689,754`|`30,001,407`|
|`TotalEndowment`
|
`160,891,635`|
`3,312,048`|
`(633,547)`|
`(3,312,048)`|
`3,823,966`|
`164,082,054`|
|`RestrictedFunds`|||||||
|`Members'IndustryScheme`|`275,066`|`31,647`|`(31,746)`|`-`|`-`|`274,967`|
|`CharitablePartnershipsScheme`
|
`206,899`|
`43,738`|
`(120)`|
`-`|
`-`|
`250,517`|
|`Subtotal1327Funds`
|
`481,965`|
`75,385`|
`(31,866)`|
`-`|
`-`|
`525,484`|
|`Members'CharitableFund`|`19,817`|`3,120`|`(22,937)`|`-`|`-`|`-`|
|`Threlfall`|`70,123`|`1,831`|`(3,533)`|`-`|`896`|`69,317`|
|`Wood`|`39,451`|`1,004`|`(38)`|`-`|`520`|`40,937`|
|`Bowes`|`324,444`|`8,804`|`(10,051)`|`-`|`4,512`|`327,709`|
|`Milner`|`137,142`|`4,313`|`(2,000)`|`-`|`1,566`|`141,021`|
|`SilverTrust`
|
`520,596`|
`-`|
`-`|
`-`|
`-`|
`520,596`|
|`TotalRestrictedFunds`
|
`1,593,538`|
`94,457`|
`(70,425)`|
`-`|
`7,494`|
`1,625,064`|
|`UnrestrictedFunds`|||||||
|`GeneralFund`|`2,252,807`|`725,600`|`(3,559,862)`|`2,848,795`|`-`|`2,267,340`|
|`Goldsmiths'LandmarksProgrammeFund`|`1,589,765`|`-`|`(321,881)`|`463,253`|`-`|`1,731,137`|
|`Covid-19Fund`
|
`65,950`|
`-`|
`(40,000)`|
`-`|
`-`|
`25,950`|
|`TotalUnrestrictedFunds`
|
`3,908,522`|
`725,600`|
`=(3,921,743)`|
`3,312,048`|
`-`|
`4,024,427`|
|`TotalFunds`
|
`166,393,695`|
`4,132,105`|
`(4,625,715)`|
`-`|
`3,831,460`|
`169,731,545`|
##
##
||`Balance`||||`Netgain/ `|`Balance`|
|---|---|---|---|---|---|---|
||`brought`||||`(loss)on`|`carried`|
|`2024`|`forward`|`Income`|`Expenditure`|`Transfers`|`investments`|`forward`|
||`£`|`£`|`£`|`£`|`£`|`£`|
|`EndowmentFunds`|||||||
|`PermanentEndowment`|`120,404,347`|`3,238,739`|`(422,322)`|`(3,238,739)`|`11,482,080`|`131,464,105`|
|`ExpendableEndowment`
|
`35,758,859`|
`-`|
`(125,425)`|
`(10,000,000)`|
`3,794,096`|
`29,427,530`|
|`TotalEndowment`
|
`156,163,206`|
`3,238,739`|
`(547,747)`|
`(13,238,739)`|
`15,276,176`|
`160,891,635`|
|`RestrictedFunds`|||||||
|`Members'IndustryScheme`|`243,684`|`31,418`|`(36)`|`-`|`-`|`275,066`|
|`CharitablePartnershipsScheme`|`175,792`|`31,176`|`(69)`|`-`|`-`|`206,899`|
|`Subtotal1327Funds`
|
`419,476`|
`62,594`|
`(105)`|
`-`|
`-`|
`481,965`|
|`Members’CharitableFund`|`60,204`|`4,960`|`(45,347)`|`-`|`-`|`19,817`|
|`Threlfall`|`65,795`|`2,036`|`(2,501)`|`-`|`4,793`|`70,123`|
|`Wood`|`36,678`|`995`|`(1,003)`|`-`|`2,781`|`39,451`|
|`Bowes`|`291,439`|`8,872`|`(5)`|`-`|`24,138`|`324,444`|
|`Milner`|`124,447`|`4,171`|`144`|`-`|`8,380`|`137,142`|
|`SilverTrust`
|
`520,596`|
`-`|
`-`|
`-`|
`-`|
`520,596`|
|`TotalRestrictedFunds`
|
`1,518,635`|
`83,628`|
`(48,817)`|
`-`|
`40,092`|
`1,593,538`|
|`UnrestrictedFunds`|||||||
|`GeneralFund`|`2,097,019`|`963,379`|`(13,444,676)`|`12,637,085`|`-`|`2,252,807`|
|`Goldsmiths’LandmarksProgrammeFund`|`1,374,100`|`-`|`(385,989)`|`601,654`|`-`|`1,589,765`|
|`Covid-19Fund`
|
`105,950`|
`-`|
`(40,000)`|
`-`|
`-`|
`65,950`|
|`TotalUnrestrictedFunds`
|
`3,577,069`|
`963,379`|
`(13,870,665)`|
`13,238,739`|
`-`|
`3,908,522`|
|`TotalFunds`
|`161,258,910`
|`4,285,746`
|`(14,467,229)`
|`(0)`
|`15,316,268`
|`166,393,695`
|
##
##
||||
`2025`|
||
|---|---|---|---|---|---|
||
`Unrestricted`|
`Restricted`||
`Endowment`|
`Total`|
||`Funds`|`Funds`||`Funds`|`Funds`|
||`£`|`£`||`£`|`£`|
|`Fundsbalancesrepresentedby:`||||||
|`HeritageAssets`|`20,000`|`520,596`||`-`|`540,596`|
|`Investments`|`-`|`525,395`||`165,123,555`|`165,648,950`|
|`CurrentAssets`|`7,805,121`|`579,074`||`(978,456)`|`7,405,739`|
|`Creditors`|`(3,800,695)`|`-`||`(63,044)`|`(3,863,739)`|
||
`4,024,426`
|
`1,625,065`
|
|
`164,082,054`
|
`169,731,545`
|
||||
`2024`|
||
|---|---|---|---|---|---|
||
`Unrestricted`|
`Restricted`||
`Endowment`|
`Total`|
||`Funds`|`Funds`||`Funds`|`Funds`|
||`£`|`£`||`£`|`£`|
|`Fundsbalancesrepresentedby:`||||||
|`HeritageAssets`|`20,000`|`520,596`||`-`|`540,596`|
|`Investments`|`-`|`519,925`||`160,322,621`|`160,842,546`|
|`CurrentAssets`|`11,594,383`|`553,017`||`703,293`|`12,850,693`|
|`Creditors`|`(7,705,861)`|`-`||`(134,279)`|`(7,840,140)`|
||
`3,908,522`
|
`1,593,538`
|
|
`160,891,635`
|
`166,393,695`
|
##
|||
`2024`|
`2024`||
|---|---|---|---|---|
||`Unrestricted`|`Restricted`|`Endowment`|`Total`|
||
`Funds`|
`Funds`|
`Funds`|
`Funds`|
||`£`|`£`|`£`|`£`|
|`Incomefrom`|||||
|`Donations`|`-`|`64,692`|`-`|`64,692`|
|`Investments`|`963,379`|`18,878`|`3,238,739`|`4,220,996`|
|`Other`|
`-`|
`58`|
`-`|
`58`|
|`Total`|
`963,379`|
`83,628`|
`3,238,739`|
`4,285,746`|
|`Expenditureon`|||||
|`Raisingfunds:`|||||
|`Investmentmanagementfees`|`-`|`-`|`547,747`|`547,747`|
|`Propertymanagementfees`|
`161,755`|
`-`|
`-`|
`161,755`|
||
`161,755`|
`-`|
`547,747`|
`709,502`|
|`Charitableactivities:`|||||
|`Generalgrants`|`11,419,340`|`3,434`|`-`|`11,422,774`|
|`Supportofthetrade`|
`2,289,571`|
`45,384`|
`-`|
`2,334,955`|
|`Totalcharitableactivities`|
`13,708,911`|
`48,818`|
`-`|
`13,757,729`|
|`Total`|
`13,870,666`|
`48,818`|
`547,747`|
`14,467,231`|
|`Net(expenditure)/incomebeforetransfersandgains`|`(12,907,287)`|`34,810`|`2,690,992`|`(10,181,485)`|
|`Transfersbetweenfunds`|`13,238,739`|`-`|`(13,238,739)`|`-`|
|`Netgainsoninvestments`||`40,093`|`15,276,176`|`15,316,269`|
|`Netincome& netmovementinfunds`|
`331,452`|
`74,903`|
`4,728,429`|
`5,134,784`|
|`Totalfundsbroughtforward`|
`3,577,070`|
`1,518,635`|
`156,163,206`|
`161,258,911`|
|`Totalfundscarriedforward`|
`3,908,522`|
`1,593,538`|
`160,891,635`|
`166,393,695`|
##
|`Recipient`|||
|---|---|---|
|`Unrestrictedfunds`
|||
|`CHARITYCOMMITTEE`|||
|`GeneralWelfare`|||
|`Freemen'sWidows`||`2,050`|
|`GraceAid`||`2,987`|
||`GeneralWelfare:SubTotal`
|
`5,037`
|
|`PrisonerResettlement`|||
|`2MAKEIT`||`30,000`|
|`GoldsmithsCollege`||`46,300`|
|`Landworks`||`30,000`|
|`NotBeyondRedemption`||`30,000`|
|`ShannonTrust`||`30,000`|
|`UnlockedGraduates`||`30,000`|
|`Hisbiscus`||`30,000`|
||`PrisonerResettlement:SubTotal`
|
`226,300`
|
|`LandmarksProgramme`|||
|`StGilesTrust`||`83,333`|
|`AstonUniversity`||`158,750`|
|`NationalLiteracyTrust`||`79,798`|
||`LandmarksProgramme:SubTotal`
|
`321,881`
|
||`TotalCharityCommittee`
|
`553,218`
|
|`EDUCATIONCOMMITTEE`
`WingatePrimarySchool!`
`PHDFunding- UniversityofCambridge`
`LiteracyPirates`
`AuroraOrchestra`
`Wonderseekers`
`RoyalNTLChildren'sSpringboard`
`BlackpoolGrandTheatre`||`55,000`
`135,000`
`20,000`
`17,500`
`13,444`
`25,000`
`23,147`|
||`TotalEducationCommittee`
|
`289,091`
|
##
|`WARDENS`||
|---|---|
|`GC&DCCompetition`|`46,500`|
|`StPaul’sCathedralChoirSchool`|`26,990`|
|`BenevolentSociety`|`25,000`|
|`FinchleySeaCadets`|`18,434`|
|`SouthHouseSilverTrust:ExpansionofTheGraduateTrainingScheme`|`15,000`|
|`SouthYorkshirePoliceBraveryAwards`|`6,000`|
|`TheLordMayor’sBigCurryLunch`|`3,250`|
|`CambridgeUniversity- Goldsmiths'PrizeandMedal`|`500`|
|`Nationa!YouthBellringingContest`|`250`|
|`LordMayor'sAppeal`|`10,000`|
|`MansionHouseScholarshipScheme`|`5,000`|
|`Sheriffs'AndRecorder'sFund`|`2,000`|
|`GoldsmithsNorth`|`15,000`|
|`TheSilverSociety`|`3,000`|
|`SnowCamp`|`2,000`|
|`TheCollegeofArmsTrust`|`3,100`|
|`PearsonSilverFoundation`|`5,000`|
|`NoGoingBack`|`5,000`|
|`Trials& ErrorEvents`|`250`|
|`StChristopher'sHospice`|`5,760`|
|
`GrantsWrittenBack`||
|
`TotalWardens`|
`198,034`|
|`SUPPORTOFTHECRAFT(includingCovid-19Fund)`||
|`TheGoldsmiths'Centre`|`2,194,661`|
|
`SilversmithsJewellers`|
`40,000`|
|
`TotalSupportoftheCraft`|
`2,234,661`|
|
`RestrictedFunds`||
|`Members'CharitableFund`||
|`TheGoldsmiths'Centre- AccessFund`|`10,640`|
|`BusinessCatalyst`|`28,740`|
|`GoldsmithsCentreFoundationProgramme`|`5,000`|
|`CreativeDimensionTrust`|`8,000`|
|`ApprenticeMedals`|`2,160`|
|`AidanThrelfallTrust`||
|`A.Rawlinson`|`1,244`|
|`B.Cowey`|`1,500`|
|`E.Maguire`|`752`|
|`MartinBowesFund`||
|`GraceAid`|`10,013`|
|`TheMilnerFund`||
|`PolicePublicBraveryAwards`|`2,000`|
|
`TotalRestrictedFunds`|
`70,049`|
|
`TOTALGRANTSPAID`
|
`3,345,053`
|
##
|`Recipient`||
|---|---|
|`Unrestrictedfunds`
||
|`MuseumofLondon`|`10,000,000`|
|
|
`10,000,000`
|
|`CHARITYCOMMITTEE`||
|`GeneralWelfare`
`Freemen'sWidows`|`2,050`|
|`GeneralWelfare:SubTotal`
|
`2,050`
|
|`PrisonerResettlement`
`PrisonersAbroad`
`Landworks`
`Hibiscus`
`NotBeyondRedemption`
`ShannonTrust`
`HardmanTrust`
`PrisonRadioAssociation`
`UnlockedGraduates`
`BeatingTime`
`OneSmallThing`
`TerrenceHigginsTrust`
`Women’sCentreCornwall`
`ProjectRemake`
`Grantswrittenback`
|
`28,333`
`30,000`
`30,000`
`30,000`
`30,000`
`28,333`
`28,333`
`30,000`
`58,333`
`58,333`
`30,000`
`58,333`
`30,000`
`(10,000)`|
|`PrisonerResettlement:SubTotal`
|
`459,998`
|
|`LandmarksProgramme`
`StPaul'sCathedral`
|
`182,000`|
|`StGilesTrust`|`83,333`|
|`AstonUniversity`
`NationalLiteracyTrust`|`62,500`
`50,740`|
|`BeanResearch:Impact`
|`7,416`
|
|`LandmarksProgramme:SubTotal`
|
`385,989`
|
|`TotalCharityCommittee`
|
`848,037`
|
|`EDUCATIONCOMMITTEE`
`RoyalNationalChildren’sSpringBoardFoundation`
`NEMathsProjectEvaluation`
`PrimarySchools- MathsTeacher(WingatePrimarySchool)`
`Grantswrittenback`|`5,000`
`74,464`
`55,000`
`(8,206)`|
|`TotalEducationCommittee`
|
`126,258`
|
##
|`WARDENS`
`TheLordMayor’sBigCurryLunch`
`South YorkshirePoliceBraveryAwards`
`CambridgeUniversity- Goldsmiths’prizeandmedal`
`LordMayor’sAppeal`
`MansionHouseScholarshipScheme`
`GC&DC2023Competition`
`SouthHouseSilverTrust:ExpansionoftheGraduateTrainingScheme`
`StPaul'sCathedralChoirSchool`
`GoldsmithsNorth`
`TheSickChildrensTrust`
`BartsCharity`
`XLP`
`JubilantTrust`
`PearsonSilverFoundation`
`StChristopher’sHospice`
`TheLadyMayoressAppeal`
`TheOld Bailey:Trial& ErrorEvents`
`CityMusicFoundation`
`Grantswrittenback`
|`3,250`
`6,000`
`500`
`10,000`
`3,000`
`58,008`
`12,000`
`12,808`
`35,000`
`3,600`
`900`
`3,600`
`1,000`
`4,500`
`5,760`
`250`
`200`
`1,800`
`(500)`
|
|---|---|
|`TotalWardens`
|
`161,676`
|
|`SUPPORTOFTHECRAFT(includingCovid-19Fund)`||
|`TheGoldsmiths'Centre`|`2,059,290`|
|`SilversmithsJewellers`
|`40,000`
|
|`TotalSupportoftheCraft`
|
`2,099,290`
|
|`RestrictedFunds`||
|`Members’CharitableFund`||
|`TheGoldsmiths'Centre- AccessFund`|`8,823`|
|`BusinessCatalyst`|`18,915`|
|`GoldsmithsCentreFoundationProgramme`|`4,500`|
|`AltonArtsFestival`|`4,800`|
|`KristinaMerchant`|`300`|
|`CreativeDimensionTrust`|`8,000`|
|`AidanThrelfallTrust`||
|`HArmstrong`|`2,000`|
|`EMaguire`|`498`|
|`BrianWoodMemorialFund`||
|`KatrinaGostanian`|`1,000`|
|`TheMilnerFund`||
|`PolicePublicBraveryAwards`|`750`|
|`WriteOffBalances`|`(894)`|
|`TotalRestrictedFunds`
|
`48,692`
|
|`TOTALGRANTSPAYABLE`
|
`13,283,953`
|