## ## |CONTENTS||Page| |---|---|---| |Trustee and advisors||| |Trustee Report||2-3| |Independent
auditors'|report|4-6| |Statement offinancial|activities|| |Balance sheet||| |Notes to the financial|statements|9-13| ## |Master|||Ms TJNichols||| |---|---|---|---|---|---| |Upper Warden|||Mr JR Franklin||| |Second Warden|||Mr JWH Wordie||| |Bankers|||Lloyds Bank pic||| ||||Threadneedle
Street, London||| |Solicitors|||Pinsent Masons LLP||| ||||London||| |Investment|Manager||Newton
Investment|Management|Limited| ||||London||| |Auditors|||Saffery Champness|LLP|| ||||71 Queen Victoria Street||| ||||London||| ||||EC4V4BE||| |Clerk to thc Trustees|||Mr TD Smith||| ||||Enquiries
about the|Charity should|be addressed to| ||||Mr TD Smith||| ||||The Salters' Company||| ||||Salters' Hall||| ||||4 London Wall Place||| ||||London||| ||||EC2Y5DE||| |Registered|Charity|No.|203458||| |Date ofregistration:|||23 February
1993||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||Note|2021|2020| |---|---|---|---| |||f|K| |Fixed assets|||| |Tangible assets||263,889|763,889| |Investments||655,747|548,264| |Total fixed assets||919,636|817,153| |Current
assets|||| |Debtors||93|65| |Cash at bank||6,039|74,716| |Total current assets||6,137|24,781| |Current
liabilities
Creditors||(5,407)|~3,6373| |Net current assets I(liabilities)||725|21,124| |Net assets||920,361|833,277| |The funds ofthe Charit)|||| |Unrestricted
Funds;|||| |Cyclical maintenance||10,562|25,736| |Extraordinary
repairs||176,403|149,331| |General
fund||733,396|658,210| |Total Charity Funds||970,361|833,277| ||||||2021|2020| |---|---|---|---|---|---|---| ||||||Unrestricted|Unrestricted| ||||||Funds|Funds| |||||Note||| |Income from:||||||| |Income from charitable||activities:||||| |Lettings|||||60,210|62,215| |Other|||||90|90| |Investments|||||11,557|16,314| |Total income|||||71,857|78,619| |Expenditure
on:||||||| |Charitable
activities||||||| |Almshouse|management||costs||21,133|22,466| |Repairs and|maintenance||||26,928|13,052| |Other|||||23,291|22,650| |Total expenditure|||||71,352|58,168| |Nct operating|surplus||||505|20,45I| |Nct investment|gains / (losses)||||86,579|(33,090)| |Nct niovement|offunds||||87,084|(12,639)| |Reconciliation|offunds|||||| |Funds at I July 2020|||||833,277|845,916| |Funds at 30June 2021|||||920,361|833,277| ## ## ## ## ## ## ## ## ## ## ||||||||Operating|Operating|Operating|2021|2020| |---|---|---|---|---|---|---|---|---|---|---|---| ||Dividends||and|Interest|||incomef||costsf|Surplusf|Surplusf| ||Income and||expenditure||from||||||| ||Lettings||||||60,210||71,352|(11,142)|4,047| ||Interest|and||dividends|||11,557|||11,557|16,314| ||Ground|rent||||||90||90|90| ||Total 2021||||||71,857||71,352|505|20,451| ||Operating||income||||78,619||58,168|20,451|| ||Operating||income|||||||2021f|2020f| ||Rents and|service charges||||||||60,210|67,215| ||Dividends|||||||||11,557|16,314| ||Ground
rent|||||||||90|90| |||||||||||75,857|78,559| ||Operating||costs||||||||| ||Direct costs|||||||||46,061|33,498| ||Administrative|||costs (including||general expenses|(note 4))|||23,291|22,650| ||Audit fee|||||||||2,000|2,020| |||||||||||71,352|58,168| |3|Other expenditure||||||||||| |||||||||||2021|2020| |||||||||||f|f| ||Miscellaneous|||expense|||||||| ||Secondment||charges - The Salters' Management||||Company|Limited|~|23,291|22,650| |||||||||||23,291|22,650| ## ## ||||||||Extraordinar||| |---|---|---|---|---|---|---|---|---|---| ||||||||v||| ||||||General||repairs|2021|2020| |||||||fund|fund|Total|Total| |||||||||f|f| |Stock exchange||securities|||||||| |at market value|||||453,120|||655,341|547,954| |Deposits||||||232|174|406|310| |30June 2021|||||453,352||202,395|655,747|548,264| |30June 2020|||||374,607||173,657|548,264|| |Securities||||||||2021|2020| |||||||||f|f| |Market value|at I July|||||||548,264|553,130| |Additions||||||||21,000|28,310| |Disposals||||||||(96)|(86)| |Net investment||gain/(losses)||||||86,579|(33,090)| |Market value||at 30June||||||655,747|548,264| |Historic cost||||||||342,831|321,927| |Investments|held at 30June 2021 considered||||material|in the|context ofthe market|value ofthe|portfolio are:| |Newton
Fund Managers|||Global Growth|and|Income|Fund for Charities||655,341|547,954| ## |Debtors|||| |---|---|---|---| |||2021f|2020f| |Debtors,|all ofwhich are due within one year, comprise:||| |Sundry|debtors|93|65| |||93|65| |Creditors||||| |---|---|---|---|---| ||||2021
f|2020f| |Creditors all ofwhich are|due within|one year, comprise:||| |The Salters' Management|Company|Ltd|404|478| |Accruals and deferred income|||5,003|3,179| ||||5,467|3,657| ## |||||Extraordinary|Cyclical|| |---|---|---|---|---|---|---| ||||General|repairs|maintenance|| |Anslvsis ofmovement|in funds||fund|fund|fund|Total| |||||f|f|f| |At I July 2020|||658,210|149,331|25,736|833,277| |Incoming
resources|||65,767|6,090||71,857| |Expenditure|||(44,424)||(26,928)|(71,352)| |Transfer to ERF and CMF funds|||(6,832)||6,832|| |Net investment
gains|||60,675|20,982|4 922|86,579| |At 30June 2021|||733,396|176,403|10,562|920,361| |Analysis ofnet assets|betvveen|General|Extraordinary
repairs|Cyclical
maintenance|2021
Total|2020
Total| |funds||fund|fund|fund|Funds|Funds| |||f||||f| |Land and buildings||263,889|||263,889|263,889| |Investments||453,352|191,833|10,562|655,747|548,264| |Net current assets||16,389|(15,334)||1,055|21,124| |At 30June 2021||733,636|176,499|10,562|920,691|833,277| |PRIOR YEAR|||General|Extraordinary
repairs|Cyclical
maintenance|| |Analysis ofmovement|in funds||fund|fund|fund|Total| ||||f||f|f| |At
1 July 2019|||665,746|145,794|34,376|845,916| |Incoming
resources|||70,457|8,162||78,619| |Expenditure|||(45,116)||(13,052)|(58,168)| |Transfer to ERFand CMF funds|||(10,336)|3,920|6,416|| |Net investment
gains|||(22,541)|(8,545)|(2,004)|(33,090)| |At 30June 2020|||658,210|149,331|25,736|833,277| |PRIOR YEAR Analysis ofnct||||Extraordinarv|Cyclical|2020| |assets betsveen
funds|||General|repairs|ms3ntenance|Total| ||||fund|fund|fund|Funds| ||||f|||| |Land and buildings|||263,889|||263,889| |Investments|||374,607|147,921|25,736|548,264| |Net current assets|||19,714|1,410||21,124| |At 30June 2020|||658,210|149,331|25,736|833,277|