Reglstered Ch*rlty Nllmber. 203458 SALTERS. COMPANY JAMLS SMfTH'S ALMSHOUSE CHARrrY ACCOU FOR THE YEAR El￿ED 30 JUNE 2022 |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||Mr JRFranklin|||| |---|---|---|---|---|---| |Upper Warden||Mr JWH Wordie|||| |Second Warden||Mr RP Vacher|||| |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 the 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|||| |||EC2Y 5DE|||| |Registered|Charity No.|203458|||| |Date ofregistration:||23 February l993|||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||2022|2021| |---|---|---|---|---|---| |||||Unrestricted|Unrestricted| |||||Funds|Funds| ||||Note||| |Income from:|||||| |Charitable
activities:|||||| |Lettings||||62,454|60,210| |Other||||90|90| |Investments||||14,886|11,557| |Total income||||77,430|71,857| |Expenditure
on:|||||| |Charitable
activities|||||| |Almshouse|management|costs||16,990|21,133| |Repairs and|maintenance|||13,196|26,928| |Other||||26,774|23,291| |Total expenditure||||56,960|71,352| |Net operating
Net investment|surplus
gains I(losses)||6|20,470
~11,969)|505
86,579| |Net movement|offunds|||8,511|87,084| |Reconciliation|offunds||||| |Funds at
1 July 2021||||920,361|833,277| |Funds at 30June 2022||||928,872|920,361| ## ## ||Note|2022|2021| |---|---|---|---| |Fixed assets|||| |Tangible assets||263,889|263,889| |Investments||643,788|655,747| |Total fixed assets||907,677|919,636| |Current assets|||| |Debtors||2,553|93| |Cash at bank||26,059|6,039| |Total current assets||28,612|6,132| |Current
liabilities|||| |Creditors||7,417)|5,407)| |Net current assets / Nabilitles)||21,195|725| |Net assets||928,872|920,361| |The funds ofthe Charity|||| |Unrestricted
Funds:|||| |Cyclical maintenance||17,746|10,562| |Extraordinary
repairs||178,610|176,403| |General
fund||732,516|733,396| |Total Charity Funds||928,872|920,361| ## ## ## ## ## ## ## ## ## ||||||Operating|Operating|2022|2021| |---|---|---|---|---|---|---|---|---| ||||||incomef|costsf|Surplus|Surplusf| ||Income and|expenditure||from||||| ||Lettings||||62,454|56,960|5,494|(11,142)| ||Interest and||dividends||14,886||14,886|11,557| ||Ground rent||||90||90|90| ||Total||||77,430|56,960|20,470|505| ||Total 2021||||71,857|71,352|505|| ||||||||2022|2021| ||Operating|income||||||| ||Rents and service charges||||||62,454|60,210| ||Dividends||||||14,886|11,557| ||Ground rent||||||90|90| ||||||||77,430|71,857| ||Operating|costs||||||| ||Direct costs|||||||| ||Repairs and||Maintenance||||13,196|26,928| ||Other Direct||Costs||||15,865|19,133| ||Total Direct Costs||||||29,061|46,061| ||Administrative||costs||||26,774|23,291| ||Audit fee||||||1,125|2,000| ||||||||56,966|71,352| |3|Other expenditure|||||||| ||||||||2022|2021f| ||Secondment|charges - The Salters' Management|||Company|Limited a|26,774|23,291| ||||||||26,774|23,291| ## ## |||||||||Housing| |---|---|---|---|---|---|---|---|---| |||||||||land and| |||||||||buildings| |Cost and net book value||||||||f| |At
1 July 2021 and 30June 2022||||||||263,889| |The Trustee has|canied out an||impairment|review and no impairment||is necessary.||| |Investments||||||||| |An analysis ofthe investments|||attributable|to the funds ofthe charity||is set out below:||| ||||||Extraordinary|||| ||||||General|repair|2022|2021| ||||||fund|fund|Total|Total| ||||||||f|| |Stock exchange|securities|||||||| |at market value|||||444,850|198,531|643,382|655,341| |Deposits|||||232|174|406|406| |30June 2022|||||445,082|198,705|643,788|655,747| |30June 2021|||||453,352|202,395|655,747|| |Securities|||||||2022|2021| ||||||||f|f| |Market value at|1 July||||||655,747|548,264| |Additions||||||||21,000| |Disposals||||||||(96)| |Net investment|gain/(losses)||||||(11,959)|86,579| |Market value at30June|||||||643,788|655,747| |Historic cost|||||||342,831|342,831| |Investments
held at 30June 2022 considered|||||material
in the context|ofthe market value|ofthe portfolio are:|| |Newton
Fund Managers||Global Growth and|||Income Fund for Charities||643,382|655,341| ## ## ## ## |7|Debtors|||||| |---|---|---|---|---|---|---| ||||||2022|2021| ||Debtors,|all ofwhich are|due within|one year, comprise:||| ||Sundry debtors||||2,553|93| ||||||2,553|93| |8|Creditors|||||| ||||||2022f|2021f| ||Creditors|all ofwhich are|due within|one year, comprise:||| ||The Salters' Management||Company|Ltd|5,608|404| ||Accruals|and sundry creditors|||1,809|5,003| ||||||7,437|5,497| ## ## |THE YEAR ENDE
Unrestricted
Funds|D|30JUN|E 2022||||| |---|---|---|---|---|---|---|---| ||||||Extraordinary|Cyclical|| |||||General|repairs|maintenance|| |Analysis ofmovement||in funds||fundf|fund|fundf|Total| |At
1 July 2021||||733,396|176,403|10,562|920,361| |Incoming resources||||75,926|1,504||77,430| |Expenditure||||(56,960)|||(56,960)| |Transfer
Net investment
gains|/|(losses)||(11,576)
(8,270)|4,392
(3,689)|7,184|~ll,959)| |At 30June 2022||||732,516|178,610|17,746|928,872| |Analysis ofnet assets||between|General|Extraordinary
repairs|Cyclical
maintenance|2022
Total|2021
Total| |funds|||fund|fund|fund|Funds|Funds| |||||||f|| |Land and buildings|||263,889|||263,889|263,889| |Investments|||445,082|180,960|17,746|643,788|655,747| |Net current assets|||23,545|(2,350)||21,195|725| |At 30June 2022|||732,516|178,610|17,746|928,872|920,361| |PRIOR YEAR||||General|Extraordinary
repairs|Cyclical
maintenance|| |Analysis 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||||(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||between|funds||Extraordinary|Cyclical|2021| |||||General|repairs|maintenance|Total| |||||fund|fund|fund|Funds| |||||f|||| |Land and buildings||||263,889|||263,889| |Investments||||453,352|191,833|10,562|655,747| |Net current assets||||16,155|(15,430)||725| |At 30June 2021||||733,396|176,403|10,562|920,361|