Charlty Numbgr.. 216614 7HE WORSHIPFUL COMPANY OF BLACKSMITHS CHARITABLE TRUST REPORT AND ACCOUNTS YEAR ENDED 31 JULY 2025 THE WORSHIPFUL COMPANY OF 8LACKSMITHS CHARITABLE TRUST GENERAL INFORMATION YEAR ENDED 31 JULY 2025 TRUSTEE.. TheWorship1￿ Cunpany of Blad(5miths SECRETARY: LL Col. Mieho91 Whita ADDRESS.. 9 Little Trinity Lane London EC4V 2AD BANKERS.. HSBC Bank PIC 1- 3 Bishopsgate London EC2N &4Q Cafrash Ltd Kingshill Vvesl Malling Kent ME19 4TA INDEPENDENT EXAMINER.. Graham Atkin FCA Leonard House 5-7 Newman Road BrOm￿Y Kent 8R11RJ INVESThIENT MANAGERS: M&G securit￿ Ltd P 0 8ox 9038 Chdmsf(*d Essex CM99 2XF SOLicrroRS.. W8OL8ke Bell 71 Quew VsctOri8 st[￿L London EC4V 4AY ¢HARITY NUMBER: 21e*14 THE WOR8HIPFUL COPIIPANY OF 8LA¢KSMrrHS CHARITABLE TRUST REPORT OF ThE TRUSTEES YEAR ENDED 31 JULY 2026 sTRl￿TuRE PMNAGEMENT AND GOVERNANCE CONsfiTUnON Th8 Chanlablè Trust of Th8 Worshipful Crynpany of 81ac#smilh¥ vd 0)n$￿tuted by a Lkndar0t￿}n of Trust dated 4 Apnl 1957 afid regI￿red on 29th Septgmber 1988 %4ith the Wislratiofi Njmber 216614. TRUSTEES The four Watdens of the worsh￿￿1 Cornpany ol Blacasmths, ¥tho. In ￿Ordance wilh the sutx*swe charters ￿anted 10 the Company, control th¢ affairs of the Company a¥9 8180 the four indi¥￿U81 Trustees of the Trust. INVE8TME14Y POWERS The inve$lmenl po¥%ers of Iho Trust are $91 out In the Trust tleed pemits th¢ Truste8$ to awuirg di8p08e of invethents as they, in their absolvle dixr&tion. think fit. NAGEMENT OF ThE TRUST In aco)rdan£E wlh the Court resoluti￿ 0125 July 2024 the followng ￿re gppointed m8rnbersof the Charity Committee: court A8slst8nt citlzen and Blacksmlth The Gallant Cltrrk Past Prlme Wanfen Cltlzen and Blaek8mlth citli¢n and Blacksmlth tlzen and Bl8ck8mlth S•cretsry Mr L Mk)rg8n OBE DL MrJMRead Lt Col M Whits TO VR MrN 8 Whltehead Mrn F E Coul$on Mi C Goodrnm Mr I C Parmvnt•rAWCB OBJECTS AND AcfviTIES The Truske has the power to apply the fund$ ol the Chariiable Twst for Ihe berfit of sych charitatle inslitulions or charitable obj8c¢$ as rt. In rts absolute discreltin, thinks fil Over the lile of th8 Trust th6 has evolved inlo a wogrammg ol prowdln ch8r11￿3 ￿lated to the City ol London Ithe 'standing' lisl - see Bursa￿ ￿ studenl bFa¢ksmiths, the support of Walden and otherch8ricabLe causes ¥i,' tharitab￿ b6nefiaar*s by the Pfine In 8$gessfftg Hpplicants fer Bursafies the r8POrt from thè tutor. the student's cg)mments and photographs of their %wrk are taken Into Coth%1deratr￿. An In18rview ￿th thè appI￿an1 may be requesl•d. All charitabl8 appeals 8r8 ¢onsKJered by the members of the Charity Committee. If pefc8Ned to be ￿￿rthy, and fundg are available, they may decide to offer ￿P￿rt partkulady rf IhÈre * an undertyin9 element relevant 10 Ihe art and mystery of blacksmilhing. The m8mkrs of tho CJ)ariiy Committeè do not antiopale le￿Mending any signif￿an1 eh8nge n obp¢tives or operation lo the War¢*ens. The Court elecis Ihe Chaimlan of the Charfty Committee each y8ar. They ma approval b the Tiuslees. They are selethed 10 provide a balance between Mem ual professional or background skills. The Committs8 *nerally rneet5 three times ea¢h year and conducts the affairs of T￿$t on behalf of ihe Ward8ns, in alxorfance wilh the Terms of Referen￿ agreed at Iheir Court meetro on 23rd Nowmter 2006. nominate rnembeo of the Committee for rs ofthe Court and the Livery beouse of PUBLIC BENEFIT The frw5t rec£Yve5 many 4)P881s each year. These come from a wide ror¥Je of org3nisalions. *kirvJ funding for their own proieds frtyn agen¢ies that 5UPPOrt individuals As$i$tsnts rnay be 9iven lo indiwdua15 where one petson, and polentkqlly theirfamily, rnay ￿n0Th't or through a group achieved though the knwrovemeni of facilities or seNtces offe￿d by ganis8tion8. Bursaries aregi¥en to 8tudents twning lo become a blacksmith and they are encouraged w aptYoa¢h Iho Trust for help after iialnlTrJ. feel the nÈerJ The Truslee b81ieve5 thai publ￿ benefit is se¢ured through the grant and bursary p￿)c￿leS that a￿ operated and a$sist. or indirècly. a wide range of peopl&. THE WORSHIPFUL COMPANY OF BLACKSMIT CHARITABLE TRLI8T REPORT OF THE TRUSTEES lcontinugdl YEAR ENDED 31 JULY 2025 FINANCIAL REVIEW YEAR ENOED 31 JULY 2026 The members ol Ihe Charrty Committee, a5 authortsed by the Trustees, contributed to varitsJs tharitable organisation5 du#TYJ ttTrè year. The total amouni p8kl by way of Charitst￿8 donations. grants and bursaries was £80,42012024.. £60.1691. Ouring the year, the Trustees made bur8ary payments to $ludenls at th8 National School of &8cKsmth￿g, which is part of Heref0rdShi￿ and Ludlow College. Herelord College of Art8. Plumpton College 8nd King8t¢n Maurward Col￿ge. rhe inili?I payment of 50% is rnade upon the award of the Bursary. Tf* final payment is dependent UFon the Committee tp(*iving ind¢pendenl confirmation that students rnainlained 8 high standard ofwoth and attended the CoU￿e regularfy. The lolal 8mount due to be paid In t￿{Sari•S w8$ £51,58012024.. £38,SS91. ASSET COVER FOR FUNDS On ol Lhe Trustees the rrwnbers of the Charfty Commlltee confirni Ihal assets are 8V8iLqble and adequ8te to meet the oUwJal￿ns of the charity RESERVES POLICY ReseNes of the dwrily are and invested lo g8n&r$te Income Its support the ¢haAtWs ot¥'eL*ve$. RISK ASSESSMENT The Primo Warden, on behalf of the￿ fellow Wardèfts, 81tends meetings of the Charity Commfftee. The record of decrsiorns made at meetin9$ is circulated to the membeB of the Charity Committee and the Wardens. It considered at the auarterfy meeting of tle Court ofwardens and As$isianls wh8n the Chairman m8y be asked questions The authDri5&1ion of payments k5 subje(a lo th8 sarn8 controls as for Ihe assets tsf Ihe GerBral Fun(1 ol The Wth3hipful Company of Nack5milh$. The bng-t&rm assels held in M&G Ch8llfund and M&G Charib¢)nd units ￿re converted into cash by 31 July 2025 preparat￿n fw the appointrnent of new inves*rnent rnanagers. TrIÈ FUTURE Burs8ry payments are made po88ible by the generosity of indivx1uAL*, wthin and outsk18 Th& Worshipful Company of Blacksmiths, %¥ho betseve tn the need to 8UPPOrt and encour&g8 $ludent$ of Ihe uah. The Wardens apprecKgie that Ih8 minimum level of a558ts forThe Charitable Truslof a 08￿Y established Livery CLKnpany 1$ £350,000 and have the￿fOre sel that frJure as the target for the asset value. In makino th6 slaiement the Wardens appreciate that variations in Stock Market valuations may mean Ihat this figure 15 llot con￿Stentty ach￿ets. They note that at 31 July 2￿5 the net a$s&t value tsf th& Unr88tricled Fund £484,747 12024 £5￿.101) The rnernbers ol the Charity Committee are s*king to increase don4tion8 lo the Charitab￿ Trusl Donors arè encourage lo enler Into o long-terrn cornmitrnent aad lake advantage of the pio¥Asion$ of the Gilt Aid r8gtsiation$ to enhan￿ th? value of thew donations Io the Tfu5t THE WORSHIPFUL WMPANY OF BLACKSMITHS cHA￿TABLE TRUST REPORT OF THE TRU8TeE IContlnu•dl YEAR ENDED 31 JULY 2025 STATEMENT OF THE CHAIIITY COPIMITtEE'S RE8PONSIWTIES FOR THE AC¢OUNTS Law appliubkn to tharitM In EThJland and Wabs requires Trustets to preparè 8Lxounts for eaeh financ4al yèar, which gTr¥e true and fair tsf Ihe chartty's finanaal actiwbes during Ihe year and of its finanual posthon 4t the end of the year. In p￿pari￿ ac¢ounts that give g true and lairwiaw, Truste•s ¥houk4 follow best prxtic8 and.. $81gct suitabk a¢countir¥J pol￿8$ and apply thern conslstenly rn8k8 judgements and estirt7at•s that are rfras0na￿e and prudeftt 5tste whathèr applicab18 accounting standards and $tat8m&nt5 of recon￿end￿ prathe havè teen fellow8d. subj8Ct to any dèpartures disclosed and explained in lh8 8rLounts wepart the 0¢￿unt$ on the going concern basil unkn8S it is inaFpropriate to a$5Urn8 that th8 ch¥rity wlll ab￿ to continue In operats"¢n. Trustees arè r8spon8iblè for k￿pIrt9 8cco￿ntIng rotAYds whKh ditsd08e, with rea8onabl8 a￿U￿¢Y, th8 finanaal Posthon of the charty at any time and which eTh8bk thèm to 3￿rtaIn the financial position of the charity and ensur• that the aexounts compty wth the SORP 2005 8nd thè Chariles Act 2011. They ar¢ also responsbb for safeguarding the 885818 of tha charity and, h•ncg, fortaking fg8$onab*é s* for th• w8venlion and d8teGion ol arror. fraud or other IN•gUjarib￿. Thg memhr8 ofthe Charity Cornmittee, on b8haW ol The Worshiplul Ccffipany of Black¥mths, ov•rsee the88 Tequimments. by thg mom￿￿ ofth• Chaflty cOr￿lttoO and ￿gned on thlr bohalfr. piro- Chalrnmn ot tho Ch•rlty ¢ommlits• Apprr>v•d by the Cowt olW*rdon• on. .. . and #lgngd on lJ•h8if of Th•Wornhipful Company of Blackamth•: iir M H Abraham- Prlm• Wardon j202ts251 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEE OF THE WORSHIPFUL COMPANY OF BLA¢K5MFTHS CHARITA8LE TRUST FOR THE YEAR ENDED 31 JULY 2025 Indopoodetht èxamlnerf6 fèPOrt to the trustses of Thg Wcsrshrpful Companyof 8laGksrnlths Charllahfè Trust report to the charity trustees ￿ my 8xaminatM)n of th? acL)unts ol Th& Worshipful Comp8ny of Blathsmiths Ch8ritable Trusl lor the y¥ar ended 31 Juty 2025. Rowon81bllltI￿ ond ￿30￿ of report As ihe ¢h*ty bwstees of Tf1151 are responsibb for preparation d tho 8ecourts h xrAydance the requiremeni8 of the Charitses Act 2011 Cth9 Acl'l. I report in of my 8xamlnali¢)n of the TrnsV5 8cco¢Jnts c4ffled Mder sectign 145 of th9 Act in ￿rry1r out my examinabon I hava follwd all applicablo Diwtions given by the Charity Comrn*8sion undgr sectlon 14515llb) ol the Act. Indopendgnt 8xamln•fs $tatemont I have ¢omp18ted my examination I confim) that no mAterial matters h8ve Ccqne lo my atten%￿n in ccknnection %wth tr examinatit￿ giwin9 mo eau58 to bel*w that in any material ￿Spect accounting records werè not kopt in respect ol the Trust a5 required by sècbon 130 of the Act., the accounts do not a¢cord wilh Ihos? records.. or the acwunts do not Comply ￿th applicablè requ￿rnant$ conceming the fom and content of a￿nIS sel out ln Ihe Charities IA¢r4)unts Ind Reports) Rogulations 20￿ other than any requir￿￿¢ that th¢ 8wouTrts givtr a IDJe and tsir v￿W which 15 rK)t a matter considered as partof an i*d8wndeftt èxaminaUDn. l crmfimi thot there are no ott)er matt8r5 lo which your attention should be drawn tognable a proper understanding of accounts to bè reached. Gr&Ji,4in Alkny? f¢A Crthy Sword Troyhy compelil.on High Ground Livery Fotsd Initiaiive Lond¢￿ Melrowlitan Archives arK1 Guiklh811 Library L(Kd Mayofs appe81 Royal Brit15h Legion.. City ol LLwdon Brsnth S￿rI￿9. and Recorderfs Fur Sons of the Clergy St ArKtrew by the Wardro St Paul's cattr￿dra1 TPE Lord Mayor's Big Curry Lunc Treloar Tr￿￿1 Tru$te9s ol thè United Guikls Urban Crafts FoundaUon Whizz Kids 1,200 1,0(X) 3fy) 600 300 250 2.500 1,500 2.500 600 1,800 500 600 250 4S0 600 1.5 2.5t)J 250 1.80) 51XJ 6LI) 250 450 6(K) 6.SOQ 1.0(M) 210 210 Othèrappeals Carn￿0n Pearson Ipeter R8ynet) Hlsloit Roy81 Palaces Livery Charity Confarèn¢è 3.6C 31K] Mf M H Abraham IPrkn¢ Wardtnl Rèeomrnendgd Ch•dty Ll$t Mid Essex Ridiro For ihe Disabw AssO￿ation 8reasl Friends 1,000 2,000 EpNlep5y Society Stroke Assoualion C8nc£i Research UK Homekss Vets UK Royal M8rine8 jo 50(1 SOQ Total p3ym8nts from general fund 28 THE WORSHIPFUL COMPANY OF 8L4CKSMITH8 CHARITABLE TRUST NOTES TO THÈ ACCOUNTS IContlnu•(l} YEAR ENDED 31 JULY 2026 Charltsblo donAtlons and grAnts l¢ontl 202$ 2024 Total payments from genèral lund PaYM￿t$ Irom benevolencè fun(1 re. hardship gfants Total ￿qyments from unreslri¢*d funds 28,570 21.610 28 570 Rgstrkt•d fund8 E(hJcabon and training bursaries G8brid M8Stwclas5 Totsi rAqyments from resiricted fijnds 51.850 38,559 51850 36 559 Total paymènts 60 TB9 7 0￿ra110nal 8etlvlfl88 2025 2024 Secretsry stipond ACcoun￿ncY Indep¥)dent Examin8Is report 8ank tharges Other oxpenses Me8tiw¥J expenses 5,000 1.440 126 119 1,550 Invèsknents 202$ 2024 Historical cost of inveslments Markel value ol invèstrnants 9 Oebtors 2025 2024 Tav r¢wvwab 45,750 32,000 10 ¢rndll¢*f5 2025 2024 A￿ru•L8 B￿S￿rIES Other ￿￿110 2.160 1,875 23,020 2,160 1,920 THE WORSHIPFUL COMPANY OF BLACKSMfTH8 CHARITABLE TRUST NOTES TO THE ACCOUNTS Icontlnuodl YEAR ENDED 31 JULY 2025 11 SumThary of ngt 489•ts by fvndB Unrnstsktsd fund8 Rè•irf¢tod ￿ndS General fur Be￿V010nl￿ Educats"on Gabr￿1 lun(J & trainino Maslerdass Sl Paul's Cathodral scolts.sh Btquest TrAal Invo3tm&n15 Debtors Cash ot bank Cr&Jito 18,2701 34,500 476,099 24.180 8,270 11,250 13.750 6.598 45,7SO 514,48S 26,055 1.875 1,875 2,163 14,OtKJ PU￿ balance 478 149 8ena¥ol•n¢• fund The funds 8re lo tE used lor the relief of such of our Liverymen aThY Freemen, or treir lamilws. ￿en, thrwh no fault oftheir own. they find them58￿e$ in $tr8ightened p8cunisry ciruJmstance$. Educatlon Jhnrf trainlng furKls a￿ to be used to benefit students ol ￿a¢k￿m￿hlng. Gabrigl M¥¥twcla5# The Gabriel family donatsd thts surn of £8,000, intsffj5t on which 1$ intend& to m8et the eyFensas of a Master81athamith lo provide a mastsrdas8 in a4kcts of the craft for youro blacksmit It wll also be used to d8fray the ex￿￿$88 of Ihose blacksmiihs attending. St. Paul's Cathedral Thg Champion Discr8tion8ry Trust donated the sum of £25,0(M) to support for a by and a girf ehori51er at St Paul's Cathadral. Seottkh bequest A bequest rnade by Mis8 Janel l Flelchw for tho benefit of spinster daughters ovor PJ), of blacksmiths. Practi￿r￿J Livery. in n￿$s1t¢uS cireumstsnces. 12 Fund$ Movements ID Funds Balar￿ 01.08.24 Baknc8 31.07.25 InC￿Ming Resources Resource5 m￿&m￿nt In Transfers Expended Investrnents Restrkted fund8 Educa'on and Training Scottith ￿￿ueSt Sl PwJl's Calh8dral Chori$tÉ Gabr￿ Mastercla5S 27.719 151.8501 24,131 14.(XJO 25,￿0 25.000 271 10.378 Total mslnct8dfunds 24.328 52.990 51,850 24.131 Unm$trlclod fund¥ Gener* fund furK4 493,503 44.587 135,9761 124,1311 478,149 rdal I￿￿$1￿Cle￿ fiinds 44 587 35 976 Yo￿1 Funds 524.429 87,826 534.180 The balan￿ on these funds is ￿p￿sented by th8 assets arKI liabilities ofth8 Chanty and an analy81s ol Ihese ass&tsand liabiliti￿ belAv8en restricted and unfestricted fuThJ$ is $howfi in note 11 THE WORSHIPFUL COMPANY OF 8LACK8MtrHS CHARITABLE TRUST NOTES TO THE ACCOUNTS IContlnu8dl YEAR ENDED 31 JULY 2025 13 Rtairktsrf funds 2025 2024 Educatlon and tralning fund Balanco brought forward In¢omè.' E¢*Jcknn and training gift a Tax recoverab18 25,219 11,622 14.122 Ex￿ndItUTe. 27.719 14.123 Hergfordshire Colkgé ol Technokngy Pl￿￿[10n College JtirNJslon Maurwar(S Col￿ge unpa￿ butsaries 48.850 35.￿9 3.[￿)0 518 124,1311 ovèr￿ dekit on fur¥J 124.4371 Transfer frc¥n gereral fund 24.131 24,437 Balan¢e urried fotward S¢ottlsh ￿qUes1 Balanc8 brought forward aryJ Ca￿1￿￿ fow48rd 14,( 14,000 st Paul'# Cathodval Cho￿$tOr Tru8t Donab)n From Champion Dis¢reb"onary Trust 25,OtX) Gabriel Ma¥t¢r¢la88 Balan￿ bro￿ght lowar4 Inv88trent income Movèmènt in inv8sbments Most￿clasS 8alarKe carrisd lorwarij 10,328 271 11661 9.7?3 10,328 T¢)tsl 49,433 24 328