2025-07-31-accounts - The Drapers' Almshouse Charity

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

`CONTENTS`	`Page`
`ReportoftheTrustee`	`1-6`
`Independentauditors’report`	`7-9`
`StatementofFinancialActivities`	`10`
`Balancesheet`	`11-12`
`StatementofCashFlow`	`13`
`Notestothefinancialstatements`	`14—23`
`AppendixA`
`ReferenceandAdministrativeinformation`

`Note`		`Unrestricted` `Fund` `£`	`Endowment` `Fund` `£`		`Total` `2025` `£`	`Total` `2024` `£`
`Incomeandendowmentsfrom:`
`Charitableactivities` `Investments` `Donations`	`2` `3`	`1,049,345` `453,387` `75,000`	`-` `-` `-`		`1,049,345` `453,387` `75,000`	`981,652` `443,889` `69,000`
`Total`		`1,577,732`	`-`		`1,577,732`	`1,494,541`
`Expenditureon:`
`Charitableactivities`	`5`	`2.450.571`	`-`		`2,450,571`	`2,384,454`
`Total`		`2,450,571`	`-`		`2,450,571`	`2,384,454`
`Netlossesonpropertyinvestments`	`6`	`-`		`-`	`-`	`(4,500)`
`Netgainsonotherinvestments`	`7`	`-`	`945,786`		`945,786`	`639,238`
`Net(expenditure)/incomeandnet` `movementinfunds`		`(872,839)`	`945,786`		`72,947`	`(255,175)`
`Balancesat` `1August`		`6,912,486`	`10,433,432`		`17,345,918`	`17,601,093`
`Balancesat31July`		`6,039,647`	`11,379,218`		`17,418,865`	`17,345,918`

	`Notes`
		`£`	`£`
`Fixedassets` `Propertyinvestments` `Otherinvestments`			`200,500` `11,512,356`		`200,500` `10,566,570`
`Almshouseproperty`
`improvements` `Atcost` `Depreciation`		`2,465,931` `(1,923,440)`		`2,465,931` `(1,874,121)`
			`542,491`		`591,810`
			`12,255,347`		`11,358,880`
`Currentassets` `Debtors` `Cashatbank`		`75,211` `5,362,097`		`219,719` `5,921,704`
		`5,437,308`		`6,141,423`
`Currentliabilities`
`Creditors:Amounts`
`fallingduewithin` `oneyear`	`10`	`(273,790)`		`(154,385)`
`Netcurrentassets`			`5,163,518`		`5,987,038`
`Totalassetslesscurrent` `Liabilities`			`17,418,865`		`17,345,918`
`Capitalandreserves` `Endowmentcapital`	`11`		`11,379,218`		`10,433,432`
`Unrestrictedreserves:`
`DesignatedFunds` `ExtraordinaryRepairFund` `CyclicalMaintenanceFund`	`12`	`292,791` `354,827`		`679,600` `876,605`
`Incomeandexpenditure`
`Account`	`13`	`5,392,029`		`5,356,281`
			`6,039,647`		`6,912,456`
			`17,418,865`		`17,345,918`

		`2025`	`2024`
		`£`	`£`
`Cashflowfromoperatingactivities:`
`Netcashusedin/ providedbyoperatingactivities`	`CF1`	`(1,012,994)`	`(1,296,512)`
`Cashflowfrominvestingactivities:`
`Dividends,interestandrentfrominvestments` `Changesandcashandcashequivalentsintheyear`		`453,387` `(559,607)`	`443,889` `(852,623)`
`Cashandcashequivalentsat` `1August`	`CF2`	`5,921,704`	`6,774,327`
`Cashandcashequivalentsat31July`	`CF2`	`5,362,097`	`5,921.704`
`CFIReconciliationofnetincome/expendituretonetcashflow`		`fromoperatingactivities`
		`2025`	`2023`
		`£`	`£`
`Netincome/expenditure`		`72,947`	`(255,175)`
`Adjustmentsfor:`
`Investmentincome`		`(453,387)`	`(443,889)`
`(Gains)lossesoninvestments`		`(945,786)`	`(634,738)`
`Depreciation` `Decrease/(Increase)indebtors`		`49,319` `144,508`	`49,319` `(87,498)`
`Increaseincreditors` `Netcashusedin/ providedbyoperatingactivities`		`119,405` `(1,012,994)`	`75,469` `(1,296,512)`
`CF2Analysisofcashandcashequivalents`
		`2025`	`2024`
		`£`	`£`
`Cashinhand`		`5,362,097`	`5,921,704`
`Totalcashandcashequivalents`		`5,362,097`	`5,921,704`
`Analysisofchangesinnetdebt`
`Atstartofyear`		`Cashflow`	`Atendofyear`
`Cash` `5,921,704`		`(559,607)`	`5,362,097`

	`Date`
`1-28LambardHouse,LangdaleRoad,Greenwich,LondonSE10`	`1968`
`1-40QueenElizabeth’sCollege,GreenwichHighRoad,Greenwich,LondonSE10`	`1574`
`136A-138CGreenwichHighRoad,Greenwich,LondonSE10`	`1773`
`BruceGrove,Tottenham,LondonN17`	`1870`
`Walter’sClose,Southwark,London`	`1960&`
	`1971`

`2`	`Incomefromlettingsandgrantsreceivable`	`2025`	`2024`
		`£`	`£`
	`Licencefees`	`920,252`	`931,052`
	`Servicechargesandutilities`	`358,375`	`300,100`
	`Lossesfromvoidlicensefees`	`(229,282)`	`(249,500)`
		`1,049,345`	`981,652`
`3`	`Interestreceivableandotherincome`	`2025`	`2024`
		`£`	`£`
	`Investmentincome` `Bankdepositinterest`	`281,339` `160,246`	`282,159` `158,470`
	`Otherincome`	`11,802`	`3,260`
		`453,387`	`443,889`
`4`	`Surplusfortheyear`	`2025`	`2024`
		`£`	`£`
	`Surplusfortheyearisstatedaftercharging:`
	`Depreciation— tangiblefixedassets` `Auditorsremuneration(includingVAT)`	`49,319` `18,711`	`49,319` `17,805`

`CharitableActivities`
	`2025`	`2024`
`Operatingcosts`	`£`	`£`
`Services` `Management` `Depreciation` `Daytodaymaintenance` `Majorrepairs`	`414,727` `491,414` `49,319` `989,281` `505,830`	`370,967` `569,901` `49,319` `455,252` `939,015`
	`2,450,571`	`2,384,454`
`Theaverageweeklynumberofpersonsemployed`	`Number`	`Number`
`duringtheyearwas`	`2`	`2`

`31July`	`2025`	`is:`
			`2025`	`2024`
			`£`	`£`
`Deficitin`	`the`	`scheme`	`(677,000)`	`(427,000)`

	`Valuation`		`Valuation`
	`2025`		`2024`
	`£`		`£`
`Balanceat` `1August` `Netinvestmentgains/(losses)` `Balanceat31July`	`200,500` `200,500`	`-`	`205,000` `(4,500)` `200,500`

		`Market`	`value`	`Cost`
		`2025`	`2024`	`2025`	`2024`
		`£`	`£`	`£`	`£`
`At` `Net`	`1August` `investmentgains/(losses)`	`10,566,570` `945,786`	`9,927,332` `639,238`	`2,586,471` `-`	`2,586,471`	`-`
`At`	`31July`	`11,512,356`	`10,566,570`	`2,586,471`	`2,586,471`

`lmshousepropertyimprovements(seeNote1)`	`2025` `£`	`2024` `£`
`Cost` `Atbeginningofyear`	`2,465,931`	`2,465,931`
`Atendofyear`	`2,465,931`	`2,465,931`
`Less:Depreciation` `Atbeginningofyear` `Chargefortheyear`	`(1,874,121)` `(49,319)`	`(1,824,802)` `(49,319)`
`Atendofyear`	`(1,923,440)`	`(1,874,121)`
`Netbookvalue`	`542,491`	`591,810`

	`Debtors:Amountsfallingduewithinoneyear`
		`2025`	`2024`
	`TradeDebtors` `Otherdebtors` `Prepaymentsandaccruedincome`	`£` `34,146` `8,002` `33,063`	`£` `58,588` `89,518` `71,613`
		`75,211`	`219,719`
`10`	`Creditors:Amountsfallingduewithinoneyear`
		`2025`	`2024`
	`Tradecreditors` `Sundrycreditorsandaccruals` `AmountsduetoTTP`	`£` `125,749` `123,058` `24,983`	`£` `20,460` `103,433` `30,492`
		`273,790`	`154,385`
`11`	`Capitalreserve`
		`2025`	`2024`
	`EndowmentCapital`	`£`	`£`
	`Balanceat` `\|August` `Netinvestmentgains`	`10,433,432` `945,786`	`9,798,694` `634,738`
	`Balanceat31July`	`11,379,218`	`10,433,432`

`DesignatedFunds`						`2024`
			`£`	`£`
`ExtraordinaryRepair`	`Fund`
`Balanceat1 August` `Contribution` `Transfer` `from`	`Unrestricted`		`119,021`	`679,600`	`114,528` `1,500,000`
`reserve/CMF` `Expenditure` `Net` `transfer` `to`	`Income`	`and`	`(505,830)`	`(386,809)`	`(939,015)`	`675,513`
`Expenditureaccount`
`Balanceat31July`				`292,791`		`679,600`
`CyclicalMaintenance` `Balanceat1 August` `Contribution` `TransfertoERF` `Expenditure` `Net` `transfer` `from`	`Fund` `Income`	`and`	`204,486` `(726,264)`	`876,605` `(521,778)`	`196,702` `(500,000)` `(215,372)`	`1,395,275` `(518,670)`
`Expenditureaccount`
`Balanceat31July`				`354,827`		`876,605`

`ovementinIncomeandExpenditure`	`Account`
		`2025`	`2024`
		`£`	`£`
`Balancebroughtforward`		`5,356,281`	`6,403,037`
`(Deficit)/surplusfortheyear`		`(872,839)`	`264,474`
`Transferfrom/(to)`
`CyclicalMaintenanceFund— contribution`	`12`	`521,778`	`(196,702)`
`ExtraordinaryRepairFund— contribution`	`12`	`386,809`	`(114,528)`
`ExtraordinaryRepairFund— transfer`	`12`	`:`	`(1,000,000)`
`Balancecarriedforward`		`5,392,029`	`5,356,281`

	`Unrestricted`	`Endowment`	`Total`
			`2025`
`Propertyinvestments` `Otherinvestments` `AlmshouseProperty` `Currentassets` `Currentliabilities`	`£` `-` `333,638` `$42,491` `5,437,308` `(273,790)`	`£` `200,500` `11,178,718` `-` `-` `-`	`£` `200,500` `11,512,356` `542,491` `5,437,308` `(273,790)`
	`6,039,647`	`11,379,218`	`17,418,865`

	`Unrestricted`	`Endowment`	`Total`
			`2024`
`Propertyinvestments` `Otherinvestments` `AlmshouseProperty` `Currentassets` `Currentliabilities`	`£` `-` `333,638` `591,810` `6,141,423` `(154,385)`	`£` `200,500` `10,232,932` `-` `-` `-`	`£` `200,500` `10,566,570` `591,810` `6,141,423` `(154,385)`
	`6,912,486`	`10,433,432`	`17,345,918`

`17` `PrioryearSOFA`
	`Unrestricted`		`Endowment`		`Total`
	`Fund`		`Fund`		`2024`
	`£`		`£`		`£`
`Incomeandendowmentsfrom:`
`Charitableactivities` `Investments` `Donations`	`981,652` `443,889` `69,000`			`-` `-` `-`	`981,652` `443,889` `69,000`
`Total`	`1,494,541`			`-`	`1,494,541`
`Expenditureon:` `Charitableactivities`	`2.384.454`			`-`	`2,384,454`
`Total`	`2,384,454`			`-`	`2,384,454`
`Netgainsonpropertyinvestments`		`-`	`(4,500)`		`(4,500)`
`NetLosses/ (gains)onotherinvestments`		`-`	`639,238`		`639,238`
`Net(expenditure)/incomeandnetmovementinfunds`	`(889,913)`		`634,738`		`(255,175)`
`Balancesat` `1August`	`7,802,399`		`9,798,694`		`17,601,093`
`Balancesat31July`	`6,912,486`		`10,433,432`		`17,345,918`

`TheDrapers’Charitable`	`Fund`
`MonicaMcCleanCampbell`		`(2000)`
`JohnSidneyGoddard`		`(1955)`
`MartinRichardHarris`		`(1995)`
`SamuelHarwar`		`(1704)`
`MorganWynnHumphrey`	`Davies`	`(2005)`
`RolandBowerJackson`		`(1972)`
`PeterFrancisOrchard`		`(1993)`
`AnthonyHoratioPacke`		`(2004)`
`SirErnestPooley`		`(1957)`
`RichardGuyPowell`		`(1995)`
`EmmaandNeilRedcliffe`		`(2018)`
`MollieKateStone`		`(1998)`
`Rev.PeterTaylor`		`(1997)`
`Mrs.SusanDaphneTaylor`		`(1997)`
`BaronessdeTurckheim`		`(2006)`
`JohnAlgarWinter`		`(2014)`
`TheDrapers’Company`		`(1959)`
`TheDrapers’Consolidated`	`Charity`
`LadyEmmaAskew`		`(1552)`
`RobertBuck`		`(1620)`
`HenryButler`		`(1615)`
`ChristopherClarke`		`(1671)`
`WilliamDolphin`		`(1534)`
`Sir` `JohnMilbourne`		`(1534)`
`ThomasRussell`		`(1593)`
`SamuelWhitbread`		`(1797)`
`SirThomasAdams`		`(1666)`
`LadyEmmaAskew`		`(1552)`
`SirEdwardBarkham`		`(1632)`
`GilesBlomer`		`(1676)`
`WilliamGlynesBruty`		`(1948)`
`RobertBuck`		`(1620)`
`LawrenceCampe`		`(1612)`
`LadyBarbaraChampion`		`(1576)`
`SirRichardChampion`		`(1568)`
`OwenClonne`		`(1563)`
`SirAlanCotton`		`(1627)`
`WilliamCotton`		`(1606)`
`SirThomasCullum`		`(1664)`
`JohnDeacle`		`(1706)`
`AliceDummer`		`(1574)`
`WilliamDummer`		`(1574)`
`SirGeorgeGarrett`		`(1648)`
`MartinHall`		`(1658)`
`JohnHeydon`		`(1579)`
`AnthonyHibbins`		`(1639)`
`ThomasHollis`		`(1714)`
`HenryJay`		`(1601)`
`HughJohnson`		`(1618)`
`SirJohnJolles`		`(1617)`
`JohnKendrick`		`(1624)`

	`TheDrapers’ConsolidatedCharity(continued)`
	`JohnRainey`	`(1631)`
	`LadyMaryRamsay`	`(1601)`
	`TheophilusRoyley`	`(1655)`
	`AgnesSmith`	`(1612)`
	`JohnSmith`	`(1645)`
	`SirSamuelStarling`	`(1673)`
	`JohnStock`	`(1780)`
	`WilliamThorogood`	`(1602)`
	`JohnWalter`	`(1656)`
	`NicholasWheeler`	`(1618)`
	`RobertWilson`	`(1639)`
	`RobertWilson(2nd)`	`(1660)`
	`RobertWinch`	`(1671)`
	`HenryDixon’sFoundationforApprenticing`
	`PeterBlundell`	`(1599)`
	`FrancesClarke`	`(1608)`
	`ThomasCorney`	`(1858)`
	`SirThomasCullum`	`(1664)`
	`HenryDixon`	`(1693)`
	`DrArthurEdwardGiles`	`(1936)`
	`JonathanGranger`	`(1769)`
	`SirJohnJolles`	`(1617)`
	`JohnKendrick`	`(1624)`
	`RichardOgborn`	`(1833)`
	`SamuelPennoyer`	`(1652)`
	`TheophilusRoyley`	`(1655)`
	`ThomasRussell`	`(1593)`
	`ThomasSoley`	`(1879)`
	`JohnStocker`	`(1571)`
	`TheDrapers’(WilliamandMary)TercentennialAward`
	`TheDrapers’Company`	`(1992)`
`2`	`TheDrapers’AlmshouseCharity`
	`JohnEdmanson`	`(1695)`
	`SirJohnJolles`	`(1617)`
	`JohnPemel`	`(1681)`
	`AnnMills`	`(1690)`
	`RichardMills`	`(1725)`
	`WalterMills`	`(1725)`
	`RobertRender`	`(1650)`
	`AliceWalter`	`(1658)`
	`JohnWalter`	`(1656)`
	`SarahElizabethGiles`	`(1908)`
	`WilliamLambarde`	`(1574)`
	`JosephMacey`	`(1791)`
	`RalphRookby`	`(1594)`
	`EdwardWalrond`	`(1720)`

`3`	`FrancisBancroft’sTrust`
	`FrancisBancroft`	`(1727)`
	`EustaceTrevorHunt`	`(1981)`
	`KevinWingScholarshipFund`
	`KevinRobertWing`	`(1993)`
	`Bancroft’sSchoolPrizeFundTrust`
	`Bancroft’sSchoolParentsAssociation` `Goldie` `JBenjamin`	`(1988)` `(1992)`
	`BrianF Beveridge`	`(1993)`
	`ChristopherAndrewBoote`	`(1990)`
	`KeithCampbell`	`(1985)`
	`TheDrapers’Company`	`(1985)`
	`RobertMartinNewtonEllis`	`(1980)`
	`AlexanderJohnEscott`	`(1979)`
	`Mr& MrsD Foskett`	`(1997)`
	`JeanCatherineGiles`	`(1992)`
	`FHodson`	`(1919)`
	`Dorothy` `FHoneybone`	`(1965)`
	`DrGerardHousden`	`(1977)`
	`ReginaldWilcoxLone`	`(1968)`
	`Mr& MrsD F Masani`	`(1990)`
	`MarjorieMutch`	`(1965)`
	`MabelAltheaNaismith` `EdwardPlayne`	`(1953)` `(1964)`
	`QuintetFilmsLtd.`	`(1984)`
	`PeterRobshaw`	`(1979)`
	`Gladys Rogers` `TheSalters’Company`	`(1945)` `(1984)`
	`SirAlbertStern` `NormanEwartThurston` `DonaldThomasAlfredTownend` `HenryTrower`	`(1942)` `(1970)` `(1984)` `(1892)`
	`Mr& MrsG Watkins`	`(1976)`
	`GeoffreyCharlesWatts` `EdithMayWhitmarsh`	`(1992)` `(1992)`
	`Mr& MrsR VWingham`	`(1992)`
	`FrankWinmill`	`(1979)`
	`TheWolfsonFoundation`	`(1983)`
	`ThomasHenryLittlewood’sTrust`
	`ThomasHenryLittlewood`	`(1948)`
`4`	`ThomasHowell’sTrust`
	`ThomasHowell`	`(1540)`

	`TheThomasHowell’sEducationFundforNorth`	`Wales`
	`ThomasHowell`	`(1540)`
	`Howell’sSchoolPrizeFundTrust`
	`GladysAnneCaleb` `JanoClementDavies` `HowardDennett` `TheDrapers’Company` `RuthFairclough`	`(1961)` `(1945)` `(1987)` `(1985)` `(1943)`
	`GeorginaMcBrien`	`(1996)`
	`OldHowelliansAssociation` `GwendolineMarySabinaOsborne`	`(Various)` `(1997)`
	`CharlotteNoraOwen`	`(1988)`
	`RebeccaJaneOwen`	`(1988)`
	`Mr& MrsD R Parry`	`(1962)`
	`MaryGertrudePugh`	`(1946)`
	`QuintetFilmsLtd.`	`(1984)`
	`DorothyRobinson` `TheSalter’sCompany`	`(1965)` `(1985)`
	`MollieKateStone` `NoelMursellTimpson` `HenryTrower` `EileenWard` `WinifredAnnieWoodcock`	`(1967)` `(1942)` `(1892)` `(1987)` `(1967)`
	`Howell’sSchoolSpecialGrantsFund`
	`TheHostelGuarantorsatHowell’sSchool,Denbigh`	`(1928)`
	`TheRanjitSinghTravellingScholarshipFund`
	`RanjitSingh`	`(1933)`
	`TheMaryBrearleyMusicFund`
	`MaryBrearley`	`(1984)`
`6`	`SirWilliamBoreman’sFoundation`
	`SirWilliamBoreman`	`(1684)`
	`WilliamClavell`	`(1818)`
	`SirWilliamLanghorn`	`(1713)`

`Trustee`	`TheDrapers’Company`
`Principaloffice`	`Drapers’Hall`
	`ThrogmortonAvenue`
	`London`
	`EC2N2DQ`
`CourtofAssistants`	`NicholasBence-Trower`
	`DavidChalk`
	`WilliamCharnley`
	`JaneMather`
	`PhilpOgden`
	`TimothyOrchard`
	`ThomasHarris`
	`StuartShilson`
	`PatrickBeddows`
	`PhilipLawford`
	`MoragShiach`
	`TimothyPage`
	`RichardHorner`
	`LukeSavage`
	`AndrewFord`
	`NeilRedcliffe`
	`BenedictDunhill`
	`JoshuaBottomley`
`Officers`	`RichardWinstanley(Clerk)`
	`DavidSumner(DirectorofFinance)`
	`AndrewMellows(DirectorofPhilanthropy)`

`AlmshouseManagers`	`TheTrustPartnershipLtd`
	`6TrullFarmBuildings`
	`Tetbury`
	`Gloucestershire`
	`GL88SQ`
`Auditors`	`SafferyLLP`
	`71QueenVictoriaStreet`
	`London`
	`EC4V4BE`
`Bankers`	`LloydsTSBPlc`
	`70-71Cheapside`
	`London`
	`EC2V6EN`
`InvestmentAdvisors`	`Redington`
	`Floor6`
	`IAngelCourt`
	`London`
	`EC2R7HJ`
`PropertyValuers`	`KnightFrank`
	`20HanoverSquare`
	`London`
	`W1ROAH`
`SecuritiesCustodian`	`RBCInvestor& TreasuryServices`
	`71QueenVictoriaStreet`
	`London`
	`EC4V4DE`
`Solicitors`	`BroadfieldLawUKLLP`
	`50Broadway`
	`Westminster`
	`London`
	`SW1HOBL`
`Surveyors`	`EpicPropertyAssetManagementLtd`
	`3BurlingtonGardens`
	`London`
	`WIS3EP`

`CourtofAssistants`	`CourtofAssistants`	`Charities`	`\|Investment`	`F&GP`
`NicholasBence-Trower`				`M`
`DavidChalk`
`WilliamCharnley`				`C`
`JaneMather`
`PhilipOgden`
`TimothyOrchard` `ThomasHarris`			`ZIO`
`StuartShilson`
`PatrickBeddows`
`PhilipLawford`
`MoragShiach`
`TimothyPage`
`RichardHorner`
`LukeSavage`
`AndrewFord` `NeilRedcliffe` `BenedictDunhill` `JoshuaBottomley` `AdditionalCommitteeMembers(Liverymen& Freemen)` `IanBickers` `CeliaBorrie` `KatherineBurns` `FelicityConway` `PatriciaGallan` `MichaelHughes` `RobertLumley` `QuentinMarshall` `VictoriaShapiro` `GrahamTurnock` `AndrewYounger`		`<\|\|ZIX/<\|` `\|<`	`Eqs`	`al` `Ka`
`Legend:` `C`	`=Chairman`
`M`	`=Member`

			`1August2024to22July2025`	`23July2025to31July2025`
`Master`			`MoragShiach`	`PatrickBeddows`
`Master`	`Warden`		`PatrickBeddows`	`PhilipLawford`
`Second`	`Master`	`Warden`	`PhilipLawford`	`TimothyPage`
`Renter`	`Warden`		`PhilipLawford`	`DavidChalk`
`Junior`	`Warden`		`NeilRedcliffe`	`BendictDunhill`