Rogist•rnd numw. 11767681 Charity number. 1181669 The Upholders Charfty (A company Ilmltod by guarantoe) Tru$ts••' rnport and financlal stat•m•nts for the y•ar endod 31 Decemr 2023
The Upholdern Chartty {A Gompany Ilmlted by guaranl¢o Contents Page Ro101¢ and admlnl•tratlve dglaMB of th• Ch•rlty. Its Tnt••* and •dvl8ws Tru•t•••' r•port Indop•nthTrt •xamlnorf• r•port Statsm•nt of flnancl•l •ctl¥ltl•8 Balanc• •h•et Nots• to the fin•nclal •lat•m•nt• 8-15
The Uphold•rn Chartty IA wmpany Ilmltod by guarants•l Retsrence and admlnhtratsve dètslls of the Charfty, Its TnMl•M and •d¥lur4 for th• year end 31 Decembèr 2023 Trust• and dlrn¢tov• C F HOnan R T Nev8rd S P Tanner A E Usher A E Demby Company rgghtsv•d numbgr 11767681 Chrlty r•glst•r•d numb•r 1181869 R•gl#tsr•d offlo• 70 Easiw Wltham Essex CIA8 3YE Accountants Kr88t1 R8eve8 LLP Chartered Alxountsnts 2nd FIOOT 168 S1t Hih Street London E18RA B•nk•rn Nallonal Wèslm#thter Bank PIC InVlMont mang•r• M&G In¥tsb)nts Page 1
Th8 Upholdern Charlty IA ¢ompany Ilmlted by guarnnlee) Trnsts¢$' roport forth• yoar end•d 31 D•¢•mb•r 2023 The Trustees present the annL4 report toget with thg finanrAal statements of The Upholder8 Charity for the penod l January 2023 10 31 December 2023. The annual report $erves the purposes of both a Trustees, report and a directors, report under company law. The Trustees confim that the 8nnuaJ report and financial stslements of the charitable company compty wth the current statutory requirements. the requiremen18 of the chaiilablo companls goveming document and the provisions of the Stslement of Recommendgd Pract2 ISORP) applicable to chanlies preparing their acc>)unts in aCCCdanc wrth Ihe Financial Repon9 Standaid appllcable in the UK and Repubk of Irdand (FRS102) (0ffgcth8 1 JanLWy 2019) as amended ty Update Bulletin 2 (effective January 2019). Since tho Charity quallfies as small under SectV 382 of the Companies Act 2(th. the strategic report requir8d of medium and krge companies under the CompaNes Aci 2006 IStral8g6c Report and Directors, Rtrporti Regulakn"on$ 2013 has boon omltted. Obl•¢tlvts and Kllvhl •. Polkl•• and obJ•cU¥g• The primary objectfves of the Charty are Sel in the Memorandum of As8wats"on which are to 8UPPOrt tho$• in both thè Upholstery and Funeral trad0$ thrOh the kYtivis of s¢holarships and prizes as well as those who find them# in Med. Tho Charity a180 supirfffi oth&r CharEtab cauges with an 8mphasls on the Ctty of London. b. Str•tsgl•• ftr •¢hl•vlng oblg¢tlv In setting objedlv88 and planning for aL¥ilies, thg TnMtts8 havo gWI nSIderaOn to g8n•ral guldanc¢ published by the Charity Comml88ion relallng to pubkc benefit, induding th8 guidance 'Public ben8fl1'. running a charity IPB21. The Trustegs confirm thal they consld8r thai the Ch8nty$ ststed objectives meet tho l&sl of béing for thg publlc b8n8fiL c. A¢tlvltlM und•rtak•n to •¢hl•v• obl•th The Upholdors Chwlly has eslabllshod a stholar3hip 8cherng w6th •ldllional funds provlded from the Estsla of The Late Bob Fowlds which is kntywn as Tre Bob F¢y•thlds Memorial 8ursarf This is usod to prov8 financial 88818lance lo indlvhluals wantkng to Partp9 In trahing In Upholstwy or Soft Fumishlngs who mlght othorwisè not be able to do 80. All Liverymen of the Wcv8hipfvl Comp4ny of UphofvJer3 ore encouraged lo mako annud don*bn8 to thg chadty. In additlon. from time to time, speaal fLm¢&rnisry InthtiS lake place. Page 2
The Uphold•r4 Charfty (A coMnY 11m1t by guarnnte•) TTUStee8' report {contlnued} for th• y•ar endod 31 Dgcemb•r 2023 {contlnuodl a. Maln chl•v•m•thts of th• Charlty The Charity gerrated income of £36,566 and had expendiiurè of £18,381 resulb'ng in a surplus for the year of £18,185. The Incre88e In Income wa8 w1ndpty du& to the futKknising walk undertaken by Junior Warden Roger Wales which gerated £19,672. The int•ntion of the Trustees is that incoffle from donations wiu be spent in the year they are raised. As ts walk took in septnber 2023 proved not to b& possible birt I fund8 r8lsed wll be 8penl In 2024. Tho gains on 1nW8tmrt8 8fos• on the INuJabon of the 8888ls held in the Poter J8on and Ntivil Hayman charities as part of the winding up procedure for those thanb"es. The fund8 from their disposal were hekl in cash 81 year end but b8 reInsted in 2¢rd4 to gèrwated Incomè in atxordance the Charws invgslmonl pdlcy. In 2023. bur8ar1è8 wizo8 ¥Mre 8VArd8d to Support the tralnlNJ and edtKIn of 8ludents. Th08e Includod 81x bursades from the Bob Fowlds Memorial Bursary Wh were arded for £1,5W aath. awards from the Ushgr Travol Bursary of £1.0 gath and annual prizes al the London M6tTopolit8n Untvèr8ity lotslllng £1,300. In addition. funds were paid lo thrne relirtd uphdslerers arml thèir famllès to suppfament thelr p8n8Ions. None ofthe Trustees Cve any th8to ljonefft from the ac¥1115 olthe Clkirlty. Flnanclal rnvl•w . Golng ¢on¢•rn These accounts have boan prepared cffj ¥ Ong concom bas18 whlch thg Irusle8s nSIder lo be appropriats. The trustoes balle that tho Charty has dequat8 resourth$ to ¢tInue kn oper8t4ond exlslence for the foreseeab fijlure. For this reason they ts)ntinue lo adopt the going concem ba818 in preparing the fln8ncial $18tgments. Further detall6 Fegardlng the of the conc4m basis can bo fouNI in th8 Accounting Policies. b. RoMrv•s poll¢y The Charity look to in¢rnase ts r8serès IJ0U th• ttbg &fOrManCe of the Undedn9 Investments. Structurn. gov•rnanc• and m•nagMn•nt . Constitutlon The UpholdeTs Charity L8 registered as a iarilable MpallY. 11 w8$ 88t up sel up by 8 memorandum of Assoaation on 15 January 2019 and incorporates Ihe Worshipfvl Company of Upholdets Newlle Hayman Charlty and the Worshipful Company of uphokIe Peter Jacson Chanty. The mwger has been gIstered on 21 Febwary 2024 with a transfer date of 31 October 223 for the Peter Jac*son Charity (2062831 and 30 November 2023 for the Newle Haan Chafrty (107159n. Page 3
The Uphold•r¥ Charfty IA Company limited by guarants•l Trust•és' r•port (continu} for the year ènded 31 Decembw 2023 Stru¢turn. gov•man¢o and m•nag8m•nt l¢onllnu•d) b. Al•thodi of appolntm•nl or election of Tvu•t••• The man4gement of the Charity is the rosponsibilrty of the Twstees who ar8 eleca&J and COpOPte(l under tho lemis of the Memofandum of Assouathin. The trustees e appointod for a maximum tomi offve years and are limited lo ts¥o terms. During the year. RT Nevard w88 re418dgd as a Trnsteè for a 80c¥)nd and final teffli of fve year8. c. Organl•tlonal •lnthr• Ind d•cl•lon4nathg poll¢l•• The tru8tee$ meet on a regular baw¥ to de&Je upon the distrknuoon of awards and managemerrt of the Chariiy. stst•mont of Trustw•' rHpon¥lblllll•g The Trustee8 (who are akn th# dIrlIN5 of ts Clity for the pu8 of ryNnpany lawl arg responbI6 for préparing the Tw8lees' rei>)rt and the financial staièment8 in awyd8ne wilh aPIcab law and United +• Klngdom Accountlng Standards (Unrted Kingdom Ganeralty Accgd Accounting Pr8ctKel. Company law wuSres the Trustees lo prepar finandal slalèmenls for each fin8nci81 y¢ar. Under Company law, the TnJ8lees must not 8pproNp Ihe fncIal stslements unless arg sabsfied that th8y glvo 8 true and f8lr view of the slal8 ol affalrs of the Charty and of its mtoming resources arKI appI8th.0n of r8sour¢gs, includSng 118 incomg and exp8ndilur8. for that pe0d. In preparlng thèse finanaal st81ements. the Tru818è8 afg rfjquired to." 6fr1gct sutt8bl6 a¢intIng p)&ts'es then apFly th8m con8i8t•nty. ob88Ne the methods Ind prinoplos of the Charilies SORP IFRS 1021.. make judgments and aco)untir#J estimates thal are r8asonablg and prudent,. Slate whether applicable UK Accounting Stsndards (FRS 102) have b8en folk)wed. 8ubjeGt lo any malerlal departures dlsdosed and expbained wi Ihg financ4al stslomgnts: prepare the financial stslèments on Ihe g¢)w¥J ¢crfKem bas Ur1 tt 18 Inapyroprlate lo presume that thè Charity will rrtinUe in busine8S. Thè Tru8lee8 are response for keeplng adequate aLtounting records that are suffldenl Io show and explain the Charills transactions and disdose with Teasonable a(#>Jracy at any time thè finanaal posrtion of the Charrty and gnabse them to ensure that th8 financial sLem8nts comply with the C¢)mp8ni88 Act 2006. They are also responsible for safeguarding the assets of the Chanty and hence for taking rgasonable steps for the prevenlbon and detaotion of and other Irregularities. Approved by order of the membe18 ol the board of Tru8te68 on behalf by.. 15PffiL20 and Signed on thelr H¥yman (Trustee) Page 4
Tho Upholdorn Charlty (A company limited by guarnntee) Indep•ndent examlnofs rvport for the yo•r •nd•d 31 D•cemb•r 2023 Ind•p•nd•nt •xamlngrf8 rnportlo th• TnMt•os of Th• Uphold•rn Ch•rlty Charl I report lo the Chwity Trustees on my ex•mmatkn of the arunts of th8 Charity for the year endad 31 Decgmber 2023. RponSIbIlItI• and of rnport A8 the Trustees of the Charfty (and Its dlredors lor the purposes of company W you are r88pon8ible foi the prepar8don ofthe accounts kn •x4)rdanc with Ihe requlremerrt8 ofthè Companb8 Aca 2006 nhe 2008 Art}. Having liS1oe my8eW that thè aci>)unts of th& Chwty not required to be audited under Part 16 of the 2006 Act and are ellgible for indèpendent eXaminatn. I report in respert ol my exarninalh)n of Ihg ChaTiltys anIS carried out und•r section 145 of the Chanties Act 2011 Ctho 2011 Act'l. In (zrTring out my examination I have foll¢yw8d the Direct8 given by the Charty Comml88lon under Section 14515llb) of the 2011 Act. Ind•p•nd•nt•xamln•f• •lat•m•nl I have completed my examlnatlon. I confimi that no mattgrn have oirne to my 8ttentk In cneCtIOn wlth the examinalion gng me Cause lo belleve". 8¢ung record¥ wère not kept in r•8pecl of tho Charity as roquired by sbOn 386 of the 20l Act., or the a¢unIS do not ac¢oTd wrfh th080 r8cord8; or the accounts do not Compty with thè wAxmttrvJ rfjquiremenls of 8èCtlon 396 of the 20C6 AGI other than any requirement that the A){9 9Ne a 'twe and fa¢ viffw whlth is nol a matter conwdored as part of n Independent examination.. or the accounts have not bèen preporod In o)rdonc• with the methcJs and principkn of the Slatemenl of Recommended PT8¢Aic8 fty acc4Junling and rewting by charth'ey applkabkn lo ¢hadlS98 prgparing Ihglf accounts in aCcordce wth the FI1¥??1 Repo"n9 Standarf applibI9 In the UK and Republic of Iroland (FRS 1021. I have no cone8m8 and havo com• aryoss no other matters li wlth the examination to which attontion Should be drwb in th18 report in orderto enab a proper underntanding of the accounts to be reathod. This report 18 made $018ty to the ChaiiV¥ Tnffjteos. as a body. in ac£ordanc• Part 4 of the CharW8s (Accounts èrnJ Reports) Regulaticffls 2(#)8. My Wofk has been undeftsken so that I State lo the Chariws Trustèès those matter5 1 am raquired to state lo Ihem In an ind8pendenl examinerfs report and for no other purposa. To thè fvllest extent pemitte(I by1¥4V. I do tN)t acp1 or assume ponsIbl1ty to anyone otr than thè Charty and the Charity$ Trustees as a body, myt*ork or for this report. Sb3ned'. Stephen M05s BS¢ {Horts) ACA Kr•slon Rwv•s LLP Chartered Aw)unlanks 2nd Floor 188 Shoreditch High Street Lorvjon EI 6RA Dated. 18 2£) Page 5
The Uphold¢rn Charity IA Company Ilmltod by guarant••l Stat•m¢nt ot financlal activloes {incOry11n9 incom• and eXpd1M account) lor tho year ended 31 D¢¢ernbor 2023 Tot•1 funds 2023 Total funds 2022 nds 2023 fvnds 2023 In¢om& from: Donations and legai?08 Investments 24020 6.659 2S.S20 11,046 20,524 10,722 SA87 Total In¢om• Expendlturo on: Charitable 4ctivlti•8 29.679 6,987 36.566 31248 6.481 12.900 18,381 18.982 Totsl oxp•ndltyr• N•t Incomell•xp•nd1rn) b•lorn n•t g•ln• on In¥tMents 12.9110 18.381 18,962 15,9131 18,186 12,284 Net gain$ on Inve8trnonts N•t movom•nt In fund• b•for• oth•r r•cognl8ed galn8lllo¥•M) Other rncognls•d galn•llloi#••): L0888s on rèvaluation of red assets 56,093 68,093 80.191 15.9131 74278 12,284 11246 123161 118,138) Not movèmént In fund• R•conclllatlon of fund•: Total funds brought forward Nèt movement in fvnds 18,119 69,817 (5.852} 299,791 131.028 18.129) 430,819 8•.817 436,671 {5.852) Total lund• ¢afrl•d forward 3TI.737 122,899 500.138 430,819 The Statement offinanryal a(*¥ihe$ Indudes 81 gth$ and bsses recryn08ed in the year. The notes on pag8$ 8 10 15 foryn part ofth888 financial 8ts1emants. Page 8
The Upholdern Charfty IA Company Ilmltsd by 9varnnts•) R•gl8ler•d nUmr. 11767681 Bal•n¢o •h••t as at 31 D•c•mb•r 2023 2023 2022 Flxod ••••t• Inve8tsnènts 185.397 355.186 186.397 355.166 Curr•nl ••••ts Debtorn Cash 81 bonk aNJ In hand 10 984 314.255 9,882 67.621 316239 n.503 Creditors.. amounts fahng du8 withkn ong year 11 {1.8501 N•t current •M•ts 316,239 75,653 Tot•1 8•••t• 500,636 430.819 Charlty fvnd8 Restrided fur Unre8lrlcted lund8 12 12 1218 377.737 131,028 299,791 T¢)lal fund• SIM>.636 430,819 The Charity was entitled to èxempthn from audlt under sedlon 477 of tho Compan$ AGI 2008. The membors have not required the o)mpany to obtsln an for th8 year In qimllon In acwrdance wlth 8eCtitin 476 of Cornpan Act 2(th. The Trustees acknowledge thew nSibttieS for complytry wdh requlrements of the Aca wlth respect to accounllng records and preparallon of fin8ncaal ststements. The financial statements haw b8•n prnpored n aC¢Ord with the $YovlOn8 8pph'cable to entitle8 8ublect to thg sm811 oompanies regim*. The flnancb81 statements were approved and auth0ri8ed for Issue by the Tnjstegs IE ItrLL and s¢gned on their behalf by. C F Hayman Truslge and Direc4or The notes on pages 8 to 15 fomi part ofthese )Inan(xal statern. Page 7
Thé Uphold•r Chartty IA company Ilmltsd by guardntse) Notss to the financial statemgnts for the year èndad 31 De¢emb¢r 2023 Gon•rnl Inforniatlon The Charity is con8lrtuted under 8 Memorandum of Association undef the law8 of England and wa8. Its règistered office atKI principal Fdace of bwness 70 Easlways, Wrtham. Essex CM8 3YE. The primary obkn$ of Ihe Chanty are sel out In the Memorandum of Asswation whth arg to 8UPPOrt those in both the Uphc4slery and trades Ihrough thg prOvisw of scholarships and prizes 88 wel as those who find thems8lve8 need. The Charty also suppcvt other d)aritat4e causes wtth an emphasis on the City ol London. Ac¢ountlng Wl¢l•¥ 2.1 Bafyls of pTatto of flmnclal The financial slat8mgnts h8ve b8en prepad in wrdance w41h the Charilles SORP IFRS 1021- Acc4)unting and ReFJrting ty Chaliies." Stsiemenl of Racommonded Pracaice aPlb lo charitie8 proparing Iha"r accounts in aco)rdance wrfh the Financial Rèporting Standard applicable in the UK and Repu1¢ of Irgland IFRS 1021 (effectrv8 l January 2019). the Financial Raporting Stsndard applie4b in the UK and Rowblk of treland IFRS 102) 8nd the Compgnles Act 20CO. Th8 Uphoklers Charity meets th& definltlon ol 8 publk b8nefft endty under FRS 102. As$ets and Ilabltti8$ are inrtIty recogni8ed at hthrKal or transacllon value unl088 othoM8e stèt th th1 ro18V8nl acrJunting poly. 2.2 Golng con¢orn These actounts bogn prepared on a gory 4>Jncxm bo818 vthlch the tru8lee8 ¢on81d8r lo b8 approprlate. 2.3 In¢om• All Income 1$ rto)gn189d one• Ihe Charity ha8 entrtment to th8 incomè, tt 18 prcii4ble that the InD)m8 wll te rec8r4ed and the amount of income revable can be measured relSably. Inmme tsx recover4bl& #) Tglalk)n to kn¥gsknient Income 18 rgctynis•d at the tlme the investment incom8 18 recelvth. 2A Exp•ndlthrn Eyndrture is recognised onea Ihere is a gaI or con8t obllgatKffl to transfer gconomk b8nefrt 10 8 paty, it 15 probable thal 8 transfer of etsn)mic beneffts 11 be required in sgttlemanl and Iho amount of the Oblatn can bo measured Telb. Exp8ndtlufe is dassthed by 8¢tMty. Th8 costs of aach are made up of the total of direcl costs and shared ujsls. induding support costs InNblv8d in undertaklng each activty. Direcl costs attributab to a singl& arè albcaled directty to that actNity. Shar9d costs Vthich o)ntribute to more than one aclmty and support costs which ara not attn'butabk Io 8 S•ThJ acliwty are apporboned between those activities on 8 basts consislenl with the LL8e of resources. Central slaff costs are alocaled on the basis of ts'me spent. and deprAatIOn tharges alkted on the witson ofthe asseY$ use. Expenditure on tharitable acvrties is incurred on dir undertaking afAlvib98 whic lurther the Charitys obJ'ecves. as well as aw assoc4ated suptmxt costs. Grants payabte are charged in the ye8r when the offer made excopl in those cases where the offer is conditional, sud) grants betiig roc4)gnised as exw)ditur8 when the cg)ndilion8 attaching are fv1fi118d. Grants offered Subject to condilions which have not been met at the year end are noted as 8 commitment. but not accrued as e¥pendibJre. Page 8
Th• Uphold•n5 Charlty IA company 11mll by guarnnto•) Notes to the finanel•l ¥tstements lorth• r •nded 31 DK•mbor 2023 Accountlng poll¢l•4 q¢ontlnu•d 2A Exp•ndltur• l¢ontlnu•d) All exwidttur8 18 indusple of Wro¥81&ble VAT. 2.5 Inv•8tm•nt• Fixgd 888et Investments are a form of finandal In81rumenl irKI are inthalty r8CJ)gnised al thèlr Iransadion 81 and subsequently m9a$urod at fair value 81 the balance sheet dalè, unl¢ss the value cannot be moa$ur8d reliatAy in whth case it is mSU[9d at Q)8t18ss impairmènt. Inveslmonl gam8 8nd losses. whelher realised or unre8ltstd. are combingd and presented as 'GainsllLossesl on Investments. In the $tatem8nt of finarthl a(aiiitth. 2.6 D•btorn Tr aj other deblors aro ra¢ogni8ed at th8 881tlèment amoth)l after any trode dl8o)unt offerad. Prepayments aro ¥aad at thè amount prepaid net of anytrade d18¢0unts duo. 2.7 Ca•h at b•nk and In h•nd Cash at bank aNJ in harKI indud68 fA8h a1 shryt4emi hwhly Ilqukl M)v8stsnanl8 wllh a short maturfty ofthreo month¥ or I from the date of acqulgilltin or op8ning ofthe POs or MIlar account. 2.8 Ll•blltl•s and prn¥tslon• Liabi161188 are recognlséd when there is an oblgthn at the balancé shfjfjl date 88 a result of a p481 event. il is probat40 that a trarter of gc4)nomK benefft wll b• required Settlement and the amount of the settloment Can be estimated rekabty. 19 Fln•nclal In•trum•nts The ChaTity onty has financial assets and fmaTKial liabiltttgs of a klnd that qu8hfy as baslc ffnancl81 Inslrumenls. BasK fmanci81 instruments are inilialty recognised al transaction value and subsequently measure(l al thwr 8elflem8nt value wlth the except6)n of bank loarra whith ore subsequenlly Ineasured al amortised (J81 using the effec11 interest method. 2.10 Fund accountlng General fvrKls are unrgslriL#ed lunds whith are wISab for u88 al the dis(¥etion of the Twstees In furtherance of the general obpctives of the Charity and which have nol been designalgd for other purposos. Restricted funds are funds which are lo be usod ardance with speafK restrlclions imposed by donors or whith have been raised by the Charity for particular purposes. The cosls of raising and administering such funds are charged agamsl the speufic fijnd. The aim and use of each restricted fund 18 86t oui in tha notes to th& financ statwnents. Inve8thnt incryne, gains and losses arn olkKled to the apprcpriate fund. Page 9
The Upholdern Charfty {A company Ilmlt¢d by guaran1••) Nots$ to the financial $latsm•nts for the year ended 31 Doc•mber 2023 Incom• from donatlon¥ and a¢l•S Tolal funds 2023 Total nds 2022 fund• 2023 fund• 2023 DonatK)n8 Gbft aid teco¥erab 23,036 24.538 16,119 4.405 24.020 25.620 20,524 Total 2022 20,524 20,524 Invvlm•nt Incom• Unrn•trl¢tsd R••trkt•d nd• fund# 2023 2023 Total lund• 2023 Total funds 2022 Irwmo from local listsd inveslments 5,559 5,487 11.046 10,722 Totsl 2022 5.397 5,325 10,722 Pagg 10
Th• Upholdorn Ch•rfty IA ¢omp•ny Ilmited by guarnnts• Notss to tho ftnanclal $tst•fflents ft)r th• year •ndod 31 December X123 An01¥ of wAnts Grnnt• ts) Gr•nl¥ to Imtituliom Indlvldua 2023 2023 Totsl funds 2023 Total fund8 2022 Grants and ward8 2,820 15.450 18270 18.915 Total 2022 S.015 13,900 18,915 The Charity has mado thg frknn9 m8kni81 • to in8itLrti(m durfng thg ytar.. 2023 2022 M•m• ol In•lltsrtlon Brltlsh Hèart FourthtK Lord Mayorfs Appoal Ch8rttablg tlonalions Cty SclaI Events- Gardon ol Rom0mbran Serl Air Ambulan( Dlsasler¥ Emeryency CMIttl0 Fine Cell Worf( BrM8h Red Cross Church of England Chiklrens. Socknty Almonerfs Donations 260 1.500 200 1,050 190 1.275 500 1211 2,820 4,015 Othèr grants to institutions 1,o¢JJ 2.820 5.015 An111 of expondlthrn on charll•bh *ctlvlU Summary by fund typ• T¢>l•l fund• 2023 Total funds 2022 funds 2023 funds 2023 Grants aw8rds Sunthy expenditute 5.370 12. 18.270 111 18.915 47 Tolal 2023 5.481 12. 18.381 18,2 Totsl 2022 7.762 11,2(Kl 18. Page11
The Uphold8rn Charlty {A company limited by guarantse) Notss to th• financlal statéments lor the year onded 31 Docember 2023 Anaty81• of •xpendltyrn by a¢tMII•s Grant fundlng of Support costs 2023 Totsl nd$ 2023 Total fvnds 2022 2023 Grants and awards Sundry expendrturg 18.270 11,270 18,915 47 Total 2023 18,270 111 18.381 18,962 Total 2022 18.915 47 18,962 rN•t•••' r•mun•ratlon and •xp•n• During the •r. no Trustees any ramu110Th or other bonefft812022- £NILI. During the ygar endod 31 DeLber 2023. no Trnstoe ex4)onses havo been Incuffed12022. £NILI. Flx•d •s•ot In¥•¥lm•ftts LSstod Inv••tmgnts Valuatlon Al l January 2023 DIspo8alg Revalyallon8 3SS.168 116S,3081 {4.4611 At 31 De¢Ymber 2023 185.397 N•1 book valu• At 31 December 2023 186.397 At 31 Dec*mbw 2022 355,188 Page 12
Th• Uphdd•v• Charfty IA comp•ny Ilmlt•d by guarantso Motes to the financlal statements for th¢ year •ndod 3109Mr 2023 10. 2023 2022 Du• wlthlD on• y Tax recoverable 984 9,882 11. Cr•dllorn: Amounts f•lllng du• f*lthln on• y••r 2023 2022 ACenlS and deferred irwmo 1,850 12. Stst•m•nt of lund• Stat•m•nt oflund¥- ¢urr•nt y••r Bol•nc• at 31 G•ln•l D•c•mb•r ILo•M•l 2023 lance at 1 J•ry 2023 Inc¢)m• Exp•ndknr• Unrnstrl¢t•d fvn Uphddern 219.791 IW11 377.73f R•#trlct•d fvnd• Bob Fvwlds Memotsl Scholarship Thè Derek Austkn Awanls The R Ushgr Trav81 Butsary 100,228 2.800 110,800) 111KII 12,0001 12.2161 94,199 2,700 26,000 131.028 {12.9001 12.2161 122,899 Total of lund• 430J19 61,632 500.636 Page 13
Tho Upholders Charlty IA eompany limit by gu•Antoe) Nots• to the finan¢lal Jtatemonts for the year ended 31 December 2023 12. Statam?nt of funds {contlnu•d) Stat•m•nt of funds. prlor>Tar Balance 81 31 Gain Dec6mbgr (Lo886s) 2022 Balanc at 1 January Income Expendlture Unr••trl¢l•d fvnd• Upholder8 25.921 (7.762) (12.5741 299,791 RMtrlct•d fund• Bob Fowlds Mamorial Scholarshlp The Derek Austln Aw8rdB Thè R Ushor Travol Bursary 111.585 5,325 (11.100) 1100) {5,562) 1C)228 2,800 28.(X)O 142.465 111,2001 15.5621 131.028 Total ollund• 436.671 (18. (18.136) 430,819 R••trlct•d fund• Thg R U8h8r Trovel 8ur8ary has been fomd ty a donation in memcrfy ol R Usher and WIN be used to asslsl wrth the travel costs of students offumliurfj m8king in pursuing their furth8r $tudi8s. The Derek Austin Awards are an annual glwi in his name. The Bob Frywlds Memorfal Scholarship b6 used to provldè finanwl assistsn to Indlvidu4ls wantlng to parNdpate in tralnmg in Upholstery or Soft Fumhing$ who mlghl oth8rwise not be abl8 to do so. Page 14
Th• Upholden5 Charfty {A cOMnY lknltrd by gu•r•nts• Nots¥ to th• financial ¥tstsm•nts lor th• year efid 31 December 2023 13. Anaty•l• of not M•ets b•tw••n fund• of n•t •wts b•tn lund•. cumnt y vnmtr1¢t Re#trlctsd fund• funds 2023 2023 Total funds 2023 Fixed a8581 investmfjnts CLThnl 088818 93.310 284,427 92.087 30,812 185,397 315.239 Totsl 377,737 122,899 500.636 An•ty•l• of n•t a•••ts b•twwn fund• . prkn y•#r Unreslrlcw Re81rldgd funds funds 2022 2022 Total fund$ 2022 Flxed oss•t InStMents Current a880ts Crodttors duo within one year 280,883 38.V28 94.303 38,575 11.850) 355.186 77,503 11.850) Totsl 299.791 131,028 430,819 Page 15