Charity Registiation No. 211169 ROBERT KITCHIN (SADDLERS, CO) (ADMINISTVRII D BY THEI WORSHIpfiUL COMPAf4Y OF SADDLEI RS) REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 Robert Ivide. The unre%tiict¢d irs¢tve level at the ycar end wa5 £25.09212023.. £22,673). Robert Kitchin (Saddlers, Co) (Administered by the Worshipful Company of Saddlers) Trustee repoi't- year ended 31 March 2024 Fin*nciAI rtvi¢iY Thc Charity had ioia] inwme of £109,24312023.. £103,758). Aftei, grants of £101,206 12023.. £90,364} and inv&8tment maii&gEmenL fees of £21,839 12023., £2I,0661. supwrt and governancc costs of£S,618 (2023,. £5,737) Ilie Chariiy had a nei deficit befoir I￿ve511￿C￿t gain% for th¢ yearof £19.42012023.. £13.409). liealistd gain5 of £33,559 (2023.. £4.070 1055es) and ullreali5cd gdins of ll74,742 {2023.. £400,117 Ios8esl resultcJ in a total gain of £408,3Ql in the yeai'12023.. £404,187 Ios5). The poitfolio was vdlucd at £4.808.663 8t 31 M￿ch 2024 12023.. £4,421,806). The bJl8llce sh¢¢t at 31 Mareh 2024 shows lotal funds of £4.850,84412023.. £4.461,963). Aehievement5 xnd ytrformaDc¢ The objecl of Kilchin's Chai'ity is la facilitate 3cc¢&8 to education and Irairjing for people under 25 y¢ars old in ne¢d of rinan¢ial asssstan¢e, especially those who are or havE bten resident, or have sluditd, &n the City of Lo#don or Girater Lpndon. A proportillii of sncotne of the Kitchin'5 Charity is itsiricted to bencfit Ciiy University. Since contributing to their fouDdation in 1894 thc TIY51ee h&% remained a Ir5PDnsive p&rtner, supporting pl￿J￿t$ most immedilltcly linked to srudeal need. Tlie greatest proportion of thc attnual giant 1$ used to Plovide student buts4riLs, including in 2023-24 to providt a l&ptop to a comTnitted student who had been %lTugglsng to ftsllow and recoixi lectures using a mobilc phone. Iii addstion, fuJ]dsllg supptsrlE the Siudy Wtll Carnpaigts which el¢v8lrs studellt experienec by providing break8 from sludy to prior￿tISe mental and physical he¥tlth. The Blldurin8 ￿lalI0￿5￿1P between the Tr￿￿ee and university are reflect¢d in evcnts such lls the Entr¢preneurship Employabiliiy Forum, which was hosted at Saddlers Hall and g&ve QPPOrtiJrtity lo pitGh Social tnietprises aud lo win prizes desi￿¢0 lo support wi early career. Income is also rr5tftrted in supp(>rt of St Ethelburga's Centre foT Rtconciliation and Peace, which l£ads progiTrinittes io SliYn8tlien loo&1 comrnunilie& inclllding Lifelines which brings groups togeihei across divid¢s to plant hedg6TOW5 across rwmland. The ranaining thiity.five percenlof thE fund Is non-resiricted so IDng giving meets thc object aknv¢. Capel Manor, lh¢ only full-tirlle providcr of govei'nment funded saddlery t￿l￿1ng In tht UK r¢cciv¢d 8 proiited bursary fuiid lo equip Year I and 2 student5 Wlth tools and rnatcrials and ac¢ess io a means tested hardship fund. In 2023-24 the remaiDTng fund5 Ivere directed towaTd &cliicving full enrolmtnt forthe 2024 academic year. A grani made to City ofLondon AGgdcJny. Lslinglon SUPPOrt¢d allrrnaiive piDvi5ion on the Appr¢Dtieeship Pathway for Éhirc sfvdents, oftering the Ch￿re 10 thrive oulsid¢ m&instream PFovision. In addition, bursaries allowcd sludents to purchase school iittiform and supplies attd to attend arts and sp0*1S tiips Ivhich ertiiched their l¢arnittg and s(>cial Fxperience. Toi¥si' Aanilets ha5 a high Icvel of child ￿)verty. and th¢ Trust¢¢ supports an XLP proj¢ct within this cotTrmuiiily aim¢d at i'educing scljool ¢xGlusion aud prepai'iyjg young people with employability skills, whilst providing menioiEhip and swrls and ar15 adivilses. In Jddition. lh¢ Charity gives a grant lo Bcoimund School wluch is a 'fvll tim4 special needs sctting for children with social, EtnoLional md mtnlal h¢alth needs, ISEMHI in Southwérk. Working witli Fknny Hors¢ Club in Brixton thcy ail abl6 to provide student5 Wlth equine aclivitirs and riding lesgons, giving them the OPPOTtunity to discover ntw skills aTrd slL¢n8ths. Thc ch￿.ity platss to conlinuc working with and supwriing chosen partners in thc aT¢as of equeslrianisttl, ¢du¢alioJJ and truining. Robert Kitchill (Saddlers, Co) (Administered by the Worshipful Company of Saddlers) Trustee report- year ended 31 March 2024 Ti'uste¢ Responslbilltles SIAt¢ment lThc Tivslee is responsibl¢ for preparing the trustee repoTI and the finonL'ial staleintnls in gcLordance with applicable law and United Kingdolli acroLEnttng standards Iullittd Kingdom Generglly Ace¢pted Accounting Practice), including FRSIO2. Th¢ law opplitable lo oharities in England & Wales requires the Ttustct lo prepare financial stattincnts foreach finanLial yeai. whieh give a true and faii'view of iht State ofaffairs of the Charity &nd of the inovement in funds of th¢ Charity foi. thai p¢i'iod. pirpallng Ih¢sc fIn￿CIal slatemenls, Ihe TIu51tc is required 10., select suiiable accouniEig policies and Ihen apply Ihcm consistently. obscrve the Inttliods and piinciplts in ihe Cliarities, SORP. moke judgements and ¢stitnalc% that are irasonable ond pnjdent,. stut¢ whether applicuble accountiog standal￿S have bEell followed, Subject to any mat¢i'ial dep￿trEeS disclosed and explained iii ihe financial 5tatement5' prepare thc fjnancial 51ateme#ts on Ili¢ going Conwrn basis unless it 15 inappropriate lo presume that the Charity will contlllue in bu5in¢sS. The TTUStee is It5wknsible for keeping proper accouniing recoiYt% that disclose with Itasonable 6ccur4Ey at any time th¢ rinaneial p05jtion of Ihc Charity and enablc Ihein lo cnsuTE that the finuD¢ial slattyntnls coInply wtih th¢ Charities Aci 2011. the Charity IAccount5and Repoi'ls) Regulatiotts 2ndth¢ pl￿ViSiOnS0r Ihc Iiust deed. They ai'ealso responsibleforsafeguarding thc ￿setS of the Char&ty and hcncc foi'takingrewnable steps for the pirv¢ntion and detcction of fraud and other irrcgularilies. The Charity gen¢tally does llotengagt in fundraising but relie8 upon it5 illveslments to generate incon1¢ frnill which its granls Afjd doJLations arr made. heh￿]ff th¥thp. Tiiislpp H W M Tayloi. Prime Wardeffj The WoT5hipfiil Company of Saddlers 2024 Robert Kitehin (Saddlers? Co) (Adininistcred by the Worshipful Company of Saddlers) llldependcnt Examiner's report I rEPOTI lo the Tntstee on tny ex&inination of the fjnanciaj statements of thc Robeit Kitchin {Saddleis' Co) for theyearended 31 M&Lrh 2024. Responsibilities and basis of report A5 Trustee of ihe Charity, you are r¢sponsible for th¢ prBpgr&tioll of the financial 8ialemenls iii acwrdance with the qu￿eMen15 of the Chai'iiies Act 2011 {'tht Acl'l. You are %aiisfJed that youi Charity is not required by charity law to be audited and have Ghosen instcad to have ith independent ¢xatt)ination. ¥ IEport in re8pect of rny ex2minalioll of th¢ Charity's financi415tattincnls as carried oul under sectiOTL 145 (>f (he 2011 Act. In cairyingout tny examinatioA I have follvwed thc applicabl¢ Directions given by the Chatity CoiiulliSSiOn under section 145{5llbl of the Act, Independent examiner's Statement F have completed my &xaiiiinalion. I canfimi th￿t no maierilll matter5 liavt cotne to iny attention in conlleclion with my exam*n8Lion gEving me cause to bcli¢v¢ that in ally niaieijfjl rt8PeCt', ccouniittE records w¢r¢ not kepi in ¥especlof the Chai'ity as required by section 130 of tlie Act., or • th¢ fittatscial stat¢m¢n15 do iiol accord with Ihose record5. or • the fillancial $iarements dn not ooittply with the applicablt r¢quir¢m¢nts conceilling the form and eontentof firt8rttig1 5taiemenls set out in the Ch￿itieS (Accoun15 ￿ld Rcporlsl Regul&tions 200B othBr than any rcquir¢inertt that ihc financial stateillenls give a'true and fall. view, whiGh i5 not a matter ¢onsidered as PRIt of an independent exaininatian. I hay¢ no ¢oncems and have corne a￿1)sS no other tnatt¢¥s in Eonneelion with Ihc ex*minat&or* lo wh%ch Httetttion should be di£iWiJ Illi5 i¢POirt in ordcr tts ciiablG A prop¢r ￿￿d¢r￿landJ￿8 of the financial staleinenls to be I￿Relled. I.-aw￿d Finch, ACA Buzzamtt LLP Chartered Accounl&nls 130 Wood Street Londo EC2V 6DL Dxle-. Robert Kitehin {Saddlers' Co) (Administered by the Wurshipful Company of Saddlers) Statement of finaneial aetivitie5 - ye#r cnded 31 March 2024 2024 2024 2024 2024 Tot%1 fuJJds 2021 Total funds Unrestritt¢d Restricled Endowmtnt fu￿d5 rurtds Trlotc Income eiidvwments fi'om.. Invcsttnent incoille 38,235 71,008 109,243 103.758 Totsl Income 38.235 71,008 109.243 103,758 si)e￿￿lture oij.. Invesltnenl m8rta8￿cnt costs Charitable activiiit5 21,839 21,839 106,824 21,066 96,101 35,816 71,008 TotAI Expenditure 35,816 71,008 21,839 128,663 117.167 Net expertdituve before inv¢stTllent gAi11511105sesl 2,419 121,839) 119A20} 113.4091 Net rCall￿ed and unrealised gainslllosscs) on inv¢51m¢nt wi'lfolios 408JOI 408J01 1404,1871 Net income and movem¢￿t in fwii(5s 2,419 386,462 388,881 1417,5961 Tol#l fund5 brought forwa￿ at l April d.d39,290 4,461,963 4,879.559 Tot81 fund5 carried foi'ward at JI March 25,092 4,525,752 4,850,844 4,461,963 contin￿]ng operat10115 None of the ChaTiIy'5 activitie8 were priiiianBntly acquircd or diqtontiny¢d during Ihc abuve twn years. The full statement of financial activities foT the yeai. ended 31 March 2023 is included in note 13. The notes on pagcs I I to 18 form part of these finan¢ial statenients Robert Kitehin {Saddlers) Co) (Admiiiistered by the Worshipful Company of Saddlers) Balance sheet as at 31 March 2024 2024 2024 2023 2023 Note Fixed assets Invcsirnent property at mRrk¢t value Inve8tm¢llt w)rtfolio at maik¢t vUl￿e 15,000 4,808,663 15.000 4,421,806 4,823.663 4,436,806 Current ll$sets Debt015 Cash at bank and in liand 10,876 1O5J81 8,802 116,257 110,317 Creditor8: Amounis falli1￿ dut within ycar 18911761 185.1601 N¢t tui'rtnt Assets 27,181 25,157 Total not ¥ssets 4,850,844 4,461.963 REpresent¢d by,, unds Hnd Tcsyrvt Permanent endowment fvnd Restiicted fund3 Unreslrictcd fund 4.825,752 4,439,290 io 25,092 22.673 Total funds 4,850,844 4,461,963 Approved by the trust¢¢ on . signed on theii. behalf by.. Taylor Prkrne Warden, Tb¢ Worshipful ComJa*ffjSaddlers The t￿leS on p8ge5 1 I to 18 form paTI of these finwJci&l statetn¢nts 10 Robert Kitchin {Saddlersg Co) (Adininistered by the Worshipful Company of Saddlers) Notes to the flnallcial statements - 31 Mareh 2024 AcCou￿ting Policles A¢couDting conv¢ntiotL The Accouttis have bcett prep4r¢d in accordance with AGcounting &nd Reporting by Charilies.. Statement or RecuintncTrded Practice applicable lo Gharitits pi'tpating their accounls in &rroidanc¢ with tlie fin&n¢ial Reporting Staiidard 3pplicablE in the UK and Republic of Ircland IFRS 1021- (ch￿'It1¢S SORP IFRS 102), th¢ Trinancial Repoj'ling Standard applicable in the UK alld Republic of Ir¢laiid IFRS 1021, and the Chai'ities Act 2011. The Chaiity constilU1¢5 a p%)blie bencfji entity a5 defJDed by FRS 102. Th¥Trustee considersthai Ih¢i¢ are no matcrial ufttertainties about the Charity'sability to continue as agoing coiicern. The Ti￿5[¢¢ has taken advw]tage of the Gx¢niplion available 10 small¢i' charities &nd not p￿8￿ted & staiemeni of cashflows. lTrcome Rccogttition Dividends and distributions fmm inv¢5ttn¢nts ar¢ 8ccounied for in the period in whirh the Charity becomes ¢nt%tlcd to the income. Intere81 froin deposits is accounled for as the in¢orne acciues. Other inwm¢ is accouJJted for on & Teccivable basis. Lxpertditure Expenditure is included oll An #wtuals bÉasis. Costs of gen￿￿ti¢]g funds coittpri5¢ those costs direcily attributable lo mattaging th¢ investment portfolio l￿d raisiiig inveStm￿t incorn& Grants payable are chaiEed in th¢ y¢ai' %vhen the oifer is conveyed lo thc rccipienl except Ea those ¢ase5 )¥bere Ihc offer Is mnditional, such grants and donalioiis beitt2 recogniscd as e%pttnditui¢ wlien ihe conditions attaching are fuifill¢d. Gronts Dffered subject to conditjolls which hav¢ llot been mei at the ycariE or Sub sectQl5. r￿lld accounting wmejkt fiuids ndowm.ent funds cotllpri￿ monies which are held as capithl. The Cli8Yily's donated capiv41 is accounlcd for as a tKrntynent eiidowm¢nt, i¥here theTtwstee has TrLTr puwei to disbur5¢ the capit81 as thougli itWa5 ]D￿Me, rather tban expenddblc et)dowment where the capital could bc disbursed at the discreiion of the TrL]Steg. Incotn¢4ri$ing from endowTnent funds is crcdit¢d to unrestricted funds and applied for general pury)oses except where.. (a) th¢ oiiginal c&pilal rercived by the Charity for a specific puipose in i¥liich case the incDTtiB 15 c￿dI1¢d to e%iricltd funds. or (b} InwiiJ¢ UflbfS fiuiii Ujat bccn dc5ignatGd by thGTru3tcr for tt 3p¢cifi¢ purpoge in which ¢rtse Ilitl income is credited to d¢5igtLat¢d funds. R¢5tri funds Restricted (vnds ￿mpriSe un¢xpmdtd incoill¢ where its iise is reslriGtcd to a specific pu￿05¢ or was raised foi. Ihat purpose. Unrestricted enei'al funds The gencial fund ¢oihprises une¥pEnd¢d incornc that j5 available lo the Trustee forus¥ at discretion thrtheT#ncc of th¢ Chgi'ity's objectives. 12 Robert l