Registered Charlty Nllmber: 2034fj8 SALTERS, COMPANY JAMES SMITHIS ALMSHOUSE CHARITY ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2023 |CONTENTS||Page| |---|---|---| |Trustee and advisors||| |Trustee Report||2-3| |Independent
auditors'|report|4-6| |Statement offinancial|activities|| |Balance sheet||| |Notes to the financial|statements|9-14| |Trustee||The Master, Wardens|and Commonalty|and Commonalty|and Commonalty|ofthe Art| |---|---|---|---|---|---|---| |||or Mistery ofSalters'|London|||| |Master||Mr JWH Wordie||||| |Upper Warden||Mr RP Vacher||||| |Second Warden||Mr AS McMurtrie||||| |Bankers||Lloyds Bank pic||||| |||Threadneedle
Street,|London|||| |Solicitors||Pinsent Masons LLP||||| |||London||||| |Investment|Manager|Newton Investment
Management|||Limited|| |||London||||| |Auditors||Saffery Champness||||| |||71 Queen Victoria Street||||| |||London||||| |||EC4V 4BE||||| |Clerk tothe 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
1993||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||2023|2022| |---|---|---|---|---|---| |||||Unrestricted|Unrestricted| |||||Funds|Funds| ||||Note||| |Income from:|||||| |Charitable
activities:|||||| |Lettings||||46,566|62,454| |Other|||||90| |Investments||||15,541|14,886| |Total income||||62,107|77,430| |Expenditure|on:||||| |Charitable
activities|||||| |Almshouse|management|costs||22,634|16,990| |Repairs and maintenance||||16,593|13,196| |Other||||22,450|26,774| |Total expenditure||||61,677|56,960| |Net operating
Net investment|surplus
gains / (losses)|||430
35,962|20,470
~33,959| |Net movement|offunds|||36,392|8,511| |Reconciliation|offunds||||| |Funds at 1 July 2022||||928,872|929361| |Funds at30June 2023||||965,264|928,872| ||Note|2023|2022| |---|---|---|---| |Fixed assets|||| |Tangible assets||263,889|263,889| |Investments||679750|643 788| |Total fixed assets||943,639|907,677| |Current assets|||| |Debtors||680|2,553| |Cash at bank||29,876|26 059| |Total current assets||30,556|28,612| |Current
liabilities|||| |Creditors||8931|7417| |Net current assets I(liabilities)||21625|21,195| |Net assets||965,264|928,872| |The funds oftbe Charity|||| |Unrestricted
Funds:|||| |Cyclical maintenance||25,778|17,746| |Extraordinary
repairs||199,415|178,610| |General fund||740 071|732516| |Total Charity Funds||965,264|928,872| ## ## ## ## ## ## ## ## |||||||Operating|Operating|2023|2022| |---|---|---|---|---|---|---|---|---|---| |||||||income|costs|Surplus|Surplus| |||||||||g|| ||Income and|expenditure|||from||||| ||Lettings|||||46,566|61,677|(15,111)|5,494| ||Interest and|||dividends||15,541||15,541|14,886| ||Ground rent||||||||90| ||Total|||||62,107|61.677|430|20,470| ||Total 2022|||||77,430|56,960|20,470|| |||||||||2023|2022| ||Operating|income|||||||| ||Rents and service charges|||||||46,566|62,454| ||Dividends|||||||15,541|14,006| ||Ground rent||||||||90| |||||||||62 107|77,430| ||Operating|costs|||||||| ||Direct costs||||||||| ||Repairs and|||Maintenance||||16,593|13,196| ||Other Direct|||Costs||||18899|15865| ||Total Direct||Costs|||||35,492|29,061| ||Administrative|||costs||||22,450|26,774| ||Audit fee|||||||3,735|1 125| |||||||||61 677|56 960| |3|Other expenditure||||||||| |||||||||2023|2022| |||||||||K|g| ||Secondment||charges - The Salters' Management|||Company|Limited *|22,450|26,774| |||||||||22,450|26,774| ## ## ## ## |An analysis of|the investments
attributa|ble
to the funds ofthe|charity is set out belo|w:|| |---|---|---|---|---|---| ||||Extraordiaary||| |||General|repair|2023|2022| |||fund|fund|Total|Total| |||||K|| |Stock exchange|securities||||| |at market value||469,716|209,628|679,344|643,382| |Deposits||232|174|406|406| |30June 2023||469,948|2~09 802|679,750|643,788| |30June 2022||445,082|198706|643,788|| |Securities||||2023|2022| |Market value at I July||||643,788|655,747| |Additions|||||| |Disposais
Net investment|gain/(losses)|||35.962|~ll.959| |Market value|at 30June|||679 758|643 788| |Historic cost||||342,831|342,831| ## ## |7|Debtors|||||| |---|---|---|---|---|---|---| ||||||2023|2022| ||Debtors, all ofwhich|are due within||one year, comprise;||| ||Salters' Charitable
Foundation||||680|| ||Sundry debtors|||||2 553| ||||||680|2,553| |8|Creditors|||||| ||||||2023|2022| |||||||8| ||Creditors all ofwhich|are|due within|one year, comprise:||| ||The Salters' Management||Company|Ltd|5,766|5,608| ||The Salters' Company|Ltd|||458|| ||Accruals and sundry|creditors|||2 707|1 809| ||||||8931|7,417| ## ## ## |Unrestricted
Funds|||||| |---|---|---|---|---|---| ||||Extraordinary|Cyclical|| |Analysis ofmovement|in|General|repairs|maintenance|| |funds||fund|fund|fund|Total| |At 1July 2022||732,516|178,610|17,746|928,872| |Incoming resources||57,311|4,796||62,107| |Expenditure||(61,677)|||(61,677)| |Transfer||(12,944)|4,912|8,032|| |Net investment
gains I|(losses)|24 865|11,097||35962| |At 30June 2023||740,071|199,415|25,778|965264| ||||Extraordinary|Cyclical|2023| |||General|repairs|maintenance|Total| |Analysis ofnet assets|between funds|fuad|fund|fund|Funds| |Land and buildings||263,889|||263,889| |Investments||469,948|184,024|25,778|679,750| |Net current assets||6,234|15,391||21,625| |At 30June 2023||740,071|199415|25 778|965,264| |PRIOR YEAR|||Extraordinary|Cyclical|| |Analysis ofmovement|in|General|repairs|mamtenance|| |funds||fund|fund|fund|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||(11,576)
~8,270|4,392
~3,689|7,184|11,959| |At 30June 2022||732,516|178,610|17,746|928,872| |Analysis ofnet assets|between funds||Extraordiaary|Cyclical|2022| |||General|repairs|mainteaance|Total| |||fund|fund|fuad|Funds| |Land and buildings||263,889|||263,889| |Investments
Net current assets||445,082
23,545|180,960
~2,350|17,746|643,788
21,195| |At 30June 2022||732,516|178,610|17,746|928,872| ##