## 

## 

|Trustee||The lronmongers'|The lronmongers'|Trust Company|
|---|---|---|---|---|
|Charity number||219153|||
|Principal|address|lronmongers'|Hall||
|||Shaftesbury|Place||
|||London|||
|||ECZY 8AA|||
|Auditors||HW Fisher LLP|||
|||Acre House|||
|||11-15William Road|||
|||London|||
|||United Kingdom|||
|||NWI 3ER|||
|Bankers||Barclays Bank PLC|||
|||1 Churchill<br>Place|||
|||London|||
|||E145HP|||
|Investment|managers|Sarasin &Partners||LLP|
|||Juxon House|||
|||100St Paups|Churchyard||
|||London|||
|||EC4M 8BU|||





## 

## 

|||Page|
|---|---|---|
|Trustee's report|||
|Statement ofTrustee's|responsibilities||
|Independent<br>auditor's|report|7-9|
|Statement offinancial|activities|10-11|
|Balance sheet||12|
|Statement ofcash flows||13|
|Notes to the financial|statements|14-27|
|Grants payable<br>analysis||28-32|





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|Structure,<br>governance|Structure,<br>governance|and management|
|---|---|---|
|1. Trustee|||
|The following|individuals|are directors ofThe Trustee as at the date ofthis report:|
|DJWorlidge|||
|H J Charnaud|||
|GABastln|||
|RH Hunting|||
|RIPatteson-Knight|||
|RCRTwallin|||
|JVerden|||
|DJLimming|||



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|Current financial year|Current financial year|||||||
|---|---|---|---|---|---|---|---|
|||Unrestricted|Unrestricted|Restricted|Endowment|Total|Total|
|||funds|funds|funds|funds|||
|||general|designated|||||
|||2021|2021|2021|2021|2021|2020|
||Notes|K||g||||
|Income and en||||||||
|Donations<br>and legacies||||93,828|15,551|109,379|148,000|
|Incoming resources from||||||||
|charitable<br>activities||421,637||||421,637|488,149|
|Investments||857,728|212,809|641,319||1,711,856|2,137,624|
|Other income||12,394||8||12,402|13|
|Total iucome and endowments||1,291,759|212,809|735,155|15,551|2,255,274|2,773,786|
|d||||||||
|Charitable<br>activities||1,238,545||754,453||1,992,998|1,844,252|
|Net gains/(losses)<br>on||||||||
|investments|10|324,618|332,050|749,503|789,825|2,195,996|(888,188)|
|Net iacoming resources||||||||
|before transfers||377,832|544,859|730,205|805,376|2,458,272|41,346|
|Gross transfers|between|||||||
|funds||(141,615)|700||140,915|||
|Net movement|in funds|236,217|545,559|730,205|946,291|2,458,272|41,346|
|Fund balances at I April||||||||
|2020||1,615,145|4,895,723|11,594,025|13,609,721|31,714,614|31,673,268|
|Fund balances|at31|||||||
|March 2021||I&851,362|5,441,282|12,324,230|14,556,012|34,172,886|31,714,614|





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## 

|Prior financial|year||||||||
|---|---|---|---|---|---|---|---|---|
|||||Unrestricted|Unrestricted|Restricted|Endowment|Total|
|||||funds|funds|funds|funds||
|||||general|designated||||
|||||2020|2020|2020|2020|2020|
||||Notes|||||8|
|Iaco|ments fr||||||||
|Donations<br>and|legacies|||||131,682|16,318|148,000|
|Incoming resources I'iom||charitable|||||||
|activities||||488,149||||4E8,149|
|Investments||||1,216,045|121,659|799,920||2,137,624|
|Other income||||||13||13|
|Total iacome and endowments||||1,704,194|121,659|931,615|16,318|2,773,786|
|~Ch|||||||||
|Charitable<br>activities|||6|1,078,119||766,133||1,844,252|
|Net gains/(losses)<br>on investments|||10|(204,035)|(55,719)|(315,948)|(312,486)|(S88,188)|
|Net incoming|resources|before|||||||
|transfers||||422,040|65,940|(150,466)|(296,168)|41,346|
|Gross transfers|between|funds||(2,500,700)|2,500,700||||
|Net movement|in funds|||(2,078,660)|2,566,640|(150,466)|(296,168)|41,346|
|Fund balances|at I April|2019||3,693,805|2,329,083|11,744,491|13,905,889|31,673,268|
|Fund balances|at31March 2020|||1,615,145|4,895,723|11,594,025|13,609,721|31,714,614|





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||||2021||2020||
|---|---|---|---|---|---|---|
|||Notes|||f||
|Fixed assets|||||||
|Tangible assets||12||2,474,975||2,091,271|
|Heritage assets||13||4,732||4,732|
|Investments||14||34,520,674||38,293,908|
|||||37,000,381||40,389,911|
|Current assets|||||||
|Debtors||16|251,334||250,462||
|Cash at bank and in|hand||8,273,815||2,274,544||
||||8,525,149||2,525,006||
|Creditors: amounts|falling due withia one||||||
|year||1$|(542,452)||(386,860)||
|Net current assets||||7,982,697||2,138,146|
|Total assets less current liabilities||||44,983,078||42,528,057|
|Creditors: amounts|falling due after more||||||
|than one year||19||(10,810,192)||(10,813,443)|
|Net assets||||34,172,886||31,714,614|
|Capital funds|||||||
|Endowment<br>funds||||14,556,012||13,609,721|
|Income funds|||||||
|Restricted<br>funds||20||12,324,230||11,594,025|
|Unrestricted<br>funds:|||||||
|Designated<br>funds||21|5,441,285||4,895,723||
|General unrestricted|funds||1,851,359||1,615,145||
|||||7,292,644||6,510,868|
|||||34,172,886||31,714,614|





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## 

|||||2021||2020||
|---|---|---|---|---|---|---|---|
||||Notes|||||
|Cash flows from operating||activities||||||
|Cash absorbed by operations|||25||(1,223,753)||(1,189,292)|
|Investing<br>activities||||||||
|Purchase oftangible fixed|assets|||(455,109)||(82,203)||
|Purchase of investments||||||(955,983)||
|Proceeds on disposal of investments||||5,969,230||||
|Investment<br>income received||||1,711,856||2,137,624||
|Net cash generated<br>from|investing||activities||7,225,977||1,099,438|
|Pinancing<br>activities||||||||
|Repayment ofbank loans||||(2,953)||(3,931)||
|Net cash used in financing||activities|||(2 953)||(3,931)|
|Net increase/(decrease)<br>in|cash and||cash equivalents||5,999,271||(93,785)|
|Cash and cash equivalents|at beginning ofyear||||2,274,544||2,368,329|
|Cash and cash equivalents||at end ofyear|||8,273,815||2,274,544|





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|||||Almshouses|Education<br>and|Total|AlmshousesEducation|AlmshousesEducation|and|Total|
|---|---|---|---|---|---|---|---|---|---|---|
||||||relief ia need|||relief in need|||
|||||2021|2021|2021|2020||2020|2020|
||||||||f.||8||
||Staff costs|||144,179||144,179|149,071|||149,071|
||Depreciation||and impairment|31,224|40,181|71,405|30,844||40,181|71,025|
||Repairs and|maintenance||100,188||100,188|79,443|||79,443|
||Other costs|||47,901|3,668|51,569|38,900||14,100|53,000|
||Water, light|and heat||233,102|26,134|259,236|193,570||25,266|218,836|
|||||556,594|69,983|626,577|491,828||79,547|571,375|
||Grant funding||ofactivities||||||||
||(see appendix)|||170,207|447,233|617,440|88,506|445,853||534359|
||Share ofsupport costs (see||||||||||
||note 7)|||511,744|237,237|748,981|497,785|240,733||738,518|
|||||1,238,545|754,453|1,992,998|1,078,119|766,133||1,844,252|
||Analysis<br>by fund||||||||||
||Unrestricted|funds - general||1,238,545||1,238,545|1,078,119|||1,078,119|
||Restricted<br>funds||||754,453|754,453||766,133||766,133|
|||||1,238,545|754,453|1,992,998|1,078,119|766,133||1,844,252|
|7|Support costs||||Education||||||
||||||aud relief in|2021|Almshouses|Education<br>and||2020|
|||||Almshouses|need|||relief|in need||
||||||'E||||||
||Governance||costs||||||||
||Committee|expenses||110|49|159|2,925||6,587|9,512|
||Audit fees|||6,187|6,187|12,374|6,060||6,060|12,120|
|||||6,297|6,236|12,533|8,985||12,647|21,632|
||Other support costs||||||||||
||Staff costs|||206,563|91,654|298,217|203,473||88,610|292,083|
||Other costs|||216,464||216,464|||||
||Legal and professional|||41,549||41,549|28,433|||28,433|
||Interest|||256,432|139,346|395,778|256,894||139,476|396,370|
|||||727,305|237,236|964,541|497,785||240,733|738,518|



## 



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## 

|The average monthly<br>number ofemployees<br>during the y|ear was.||
|---|---|---|
||2021|2020|
||Number|Number|
|Almshouse<br>staff|||
|Employment<br>costs|2021|2020|
|Wages and salaries|353,965|345,202|
|Social security costs|28,805|28,346|
|Other pension costs|59,626|67,606|
||442,396|441,154|





## 

## 

## 


## 

|12|Tangible fix|ed assets||||
|---|---|---|---|---|---|
||||Freehold|Fixtures,|Total|
||||land and|fittings<br>tfi||
||||buildings|equipmentf||
||Cost|||||
||At I April 2020||3,147,822|199,680|3,347,502|
||Additions||447,320|7,789|455,109|
||At 31March|2021|3,595,142|207,469|3,802,611|
||Depreciation|and impairment||||
||At I April 2020||1,098,417|157,814|1,256,231|
||Depreciation|charged in the year|61,356|10,049|71,405|
||At 31March|2021|1,159,773|167,863|1,327,636|
||Carrying<br>amount|||||
||At 31March|2021|2,435,369|39,606|2,474,975|
||At 31March|2020|2,049,405|41,866|2,091,271|
|13|Heritage assets|||||
||At IApril 2020 and at31March 2021||||4,732|



## 



## 

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## 

||||||||Units|
|---|---|---|---|---|---|---|---|
||||||||8|
||Cost orvaluation|||||||
||At 1April|2020|||||38,293,908|
||Valuation|changes|||||2,195,996|
||Disposals||||||(5,969,230)|
||At 31March 2021||||||34,520,674|
||Carrying|amount||||||
||At 31March 2021||||||34,520,674|
||At 31March 2020||||||38,293,908|
|15|Financial|instruments||||2021|2020|
||Carrying|amount of|financial assets|||||
||Instruments|measured|at fair|value through|profit or loss|34,520,674|38,293,908|
|16|Debtors|||||||
|||||||2021|2020|
||Amounts|falling due|within|one year:||||
||Other debtors|||||139,545|147,443|
||Prepayments<br>and accrued income|||||111,789|103,019|
|||||||251,334|250,462|





## 

## 

## 

|||2021|2020|
|---|---|---|---|
|||8||
|Bank loans||313,443|316,396|
|Ferroners|pic loans|10,500,000|10,500,000|
|||10,813,443|10,816,396|
|Payable|within one year|3,251|2,953|
|Payable|atter one year|10,810,192|10,813,443|
|Amounts|included above which fall due atter five years:|||
|Payable|by instalments|293,559|298,335|
|Payable|at end ofterm|10,500,000|10,500,000|



## 

|Creditors: am|ounts<br>falling due|within one year||||
|---|---|---|---|---|---|
|||||2021|2020|
||||Notes|||
|Bank loans|||17|3,251|2,953|
|Other taxation|and social security|||1,719|1,986|
|Trade creditors||||129,019|78,695|
|Amount<br>owed|toThe Worshipful|Company oflronmongers|||825|
|Other creditors||||6,256|6,253|
|Accruals and deferred income||||402,207|296,148|
|||||542,452|386,860|





## 

## 

## 

|19|Creditors: amounts|Creditors: amounts|falhng due after more than one year||||
|---|---|---|---|---|---|---|
||||||2021|2020|
|||||Notes||g|
||Bank loans|||17|310,192|313,443|
||Amounts|due to Ferroners pic||17|10,500,000|10,500,000|
||||||10,810,192|10,813,443|





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## 

## 

## 

## 

|25|Cash generated<br>from operations|Cash generated<br>from operations|Cash generated<br>from operations|||2021|2020|
|---|---|---|---|---|---|---|---|
||Surplus for the year|||||2,458,272|41,346|
||Adjustments<br>for:|||||||
||Investment<br>income recognised||in statement offinancial|activities||(1,711,856)|(2,137,624)|
||Gain on disposal of|investments||||(75,054)||
||Fair value gains and|losses on investments||||(2,120,942)|888,188|
||Depreciation<br>and impaiiment oftangible fixed assets|||||71,405|71,025|
||Movements<br>in working capital:|||||||
||(Increase) in debtors|||||(872)|(37,457)|
||Increase/(decrease)|in creditors||||155,294|(14,770)|
||Cash absorbed by|operations||||(1,223,753)|(1,189,292)|
|26|Analysis ofchanges|in net (debt)/funds||||||
||||||At I April 2020<br>f|Cash flaws|At 31March 2021<br>f|
||Cash at bank and in|hand|||2,274,544|5,999,271|8,273,815|
||Loans falling due within one year||||(2,953)|(298)|(3,251)|
||Loans falling due atter more than one year||||(10,813,443)|3,251|(10,810,192)|
||||||(8,541,852)|6,002,224|(2,539,628)|





## 

## 

## 

||||||2021|2020|
|---|---|---|---|---|---|---|
|||||||8|
|SirRobert Geffery's Almshouse|||Trust||||
|Adventure<br>Hyndburn<br>Ltd|||||9,145||
|Bolton Lads &Girls Club|||||7,611||
|City ofLondon School for|Girls||||10,745|6,256|
|Educational<br>Dance Provision Service|||||8,942||
|Epic Partners|||||3,565||
|Goals Beyond Grass|||||4,000||
|Hampshire &IsleofWight|Community|||Foundation||10,000|
|Homiman<br>Public Museum|&Public Park Trust||||8,985||
|Kirklees Theatre Trust|||||7,250||
|Lyric Theatre, Hammersmith|||||50,000||
|Magpie dance|||||7,500||
|Makebelieve<br>Arts|||||15,920|15,920|
|National<br>Youth Theatre||||||7,000|
|New Writing North||||||8,650|
|Reading Repertory<br>Theatre||||||5,000|
|StVincent Family Project|||||25,000|25,000|
|Thanet Community<br>Development||Trust||Ltd||4,680|
|The Arts Depot Trust Limited|||||5,200||
|The Surrey Care Trust|||||6,344||
|World Heart Beat Musie Academy||||||6,000|
||||||170,207|88,506|
|Ironmongers'<br>Foundation|- Iron||Committee||||
|Cambo Heritage Trust - prior year||||||(5,000)|
|Church ofthe Immaculate|Conception,|||Penzance|4,000||
|Dukes Meadows Trust|||||5,000||
|Technicians<br>Award||||||250|
|Friends ofSt Conan's Kirk||||||5,335|
|Guildford<br>Cathedral|||||1,865||
|Hatfield<br>Memorial<br>Lecture||||||500|
|Heritage ofLondon Trust|||||||
|Hyde Park Picture House|||||5,000||
|Imperial<br>College|||||5,000|5,000|
|Ironbridge<br>Gorge Museum|Trust -||prior|year||(3,000)|
|Jubilee Awards|||||(4,000)|4,000|
|Maritime Archaeology<br>SeaTrust||||||5,000|
|National<br>Heritage Ironwork|Group||||7,500||
|Old Royal Naval College, Greenwich||||||6,162|
|Oxford Medal||||||450|





## 

## 

## 

|||||2021|2020|
|---|---|---|---|---|---|
|1-leytesbury<br>Church||||307||
|Petherton<br>Arts Trust||||748||
|GESTLtd||||6,000||
|Ruskin<br>Mill Trust - Chimney||||8,121|(2,820)|
|Shrewsbury<br>Flaxm ill Malting|||||18,500|
|South ofEngland<br>Agricultural||Show|||750|
|Slough Fort Preservation<br>Trust|||||2,000|
|South ofEngland<br>Agricultural||Show (April 18)|||750|
|StBartholomews<br>Church, Tong|||||772|
|StChad's Church, Haggerston|||||7,000|
|StJohn Evangalist<br>Sparks|||||(10,000)|
|StMary-at-Hill<br>Church, Eastcheap||||(1,800)|1,800|
|StJohn's Church, Rental|||||7,500|
|The Bluecoat, Liverpool||||770||
|The Charterhouse,<br>London||||7,000|5,000|
|The Chelsea Physic Garden|Company|||2,735||
|Trimontium<br>Trust||||2,650|(2,650)|
|United Synagogue|||||(2,160)|
|University ofBirmingham|||||5,000|
|University ofCambridge|||||5,000|
|University ofManchester|||||1,000|
|University ofOxford|||||5,000|
|University ofSheffield||||5,000|5,000|
|University ofSheffield - prior year|||||(2,800)|
|||||55,896|63,339|
|Ironmongers'<br>Foundation|-Bettons Appeals Committee|||||
|Active Hope|||||8,536|
|Cardinal<br>Hume Centre|||||8,050|
|Chichester Diocesan Association|||for Family support|4,000||
|City ofLondon and North East||Sector Army Cadet Force||1,000|1,000|
|Guildhall<br>School Trust||||5,000|5,000|
|Mansion House Scholarship|Scheme|||1,000|1,000|
|Marine Society and Sea Cadets||||2,400|2,400|
|Master's Allocation|||||(2,300)|
|Nature Vibezzz||||5,000||
|Prison Fellowship<br>England|&Wales||||5,400|
|St Catherine's<br>School, Ventnor||||1,487||
|The Colonel's Fund, Grenadier||Guards||10,000|10,000|





## 

## 

## 

|||||||2021|2020|
|---|---|---|---|---|---|---|---|
|The Lord Mayors Appeal||||||2,000|18,500|
|Thomley Hall Centre Ltd||||||10,000||
|Vamos Theatre CIO|||||||5,084|
|Yellow Submarine<br>Holidays||||||7,500||
|||||||49,387|62,670|
|Ironmongers'<br>Foundation|-Scholarships||||dr General|||
|Arkwright<br>Engineering<br>Scholarship||||||2,200|2,200|
|Cambridge<br>Science Centre|||||||13,020|
|Dudley Academies<br>Trust|||||||5,160|
|Engineering<br>Development|Trust|||||9,870|4,800|
|Gasp Motor Project||||||5,907||
|Institute ofEngineering<br>and||Technology||||2,200|2,200|
|Leeds City College||||||9,340||
|Livery Kitchen Initiative||||||5,000||
|Mitcham Town Community||Trust|||||5,660|
|SirRobert Geffery's School,||Landrake||||6,325||
|Smallpeice Trust||||||10,160|9,720|
|The Access Project||||||10,000|10,000|
|The Manchester<br>Youth Zone||Ltd||||6,681||
|The Work Wise Foundation||||||15,000|15,000|
|Timberley Acadamy|||||||1,935|
|University ofOxford|||||||19,000|
|||||||82,683|88,695|
|Thomas Betton Education||England||dr Wales Scbool Fund||||
|Bethany CEJunior School,|Winchester|||||7,500|7,500|
|Christ's Hospital||||||17,925|17,925|
|Emmaus<br>Catholic/CE<br>Primary|||School,|Sheffield||7,500|7,500|
|King Edward School, Witley||||||7,000|7,000|
|Make Believe Arts||||||44,666|202|
|Scunthorpe<br>CEPrimary<br>School||||||7,500|7,500|
|StAndrew's<br>Berm CEPrimary|||School,|Rugby||7,500|7,500|
|StJohn's CEPrimary School, Durham||||||15,000|7,500|
|St Martin's CEPrimary School, Salisbury||||||7,500|7,500|
|The Bishops CEPrimary School, Thetford||||||7,500|7,500|
|||||||129,591|77,627|





## 

## 

||||2021|2020|
|---|---|---|---|---|
||||8||
|Thomas Betton Education London School||Fund|||
|StMarys CEPrimary School, Brent|||16,300|7,500|
|StPaul's Cathedral|||15,000|15,000|
|St Stephens CE Primary|School, Southwark||7,500|7,500|
||||38,800|30,000|
|Thomas Betton Relief|In Need||||
|ADD-Nl Children's<br>Charity||||5,000|
|Art Services Grants Ltd||||9,640|
|BFAdventure||||8,682|
|CARIS Camden Families||||4,344|
|City ofLondon Police Widows and Orphans||Fund|300|300|
|Collar and Tie Ltd||||6,600|
|Contact||||4,304|
|Daisy Inclusive Ltd||||5,326|
|Doorstep Library Network||||3,803|
|Drake Music||||4,000|
|Drunken<br>Chorus|||3,900||
|Edmonton<br>Community|Partnership||4,090||
|Face Front Inclusive Theatre Ltd|||10,000||
|Finding Rhythms|||6,000||
|Friends ofVictoria School, Birmingham|||3,000||
|Hackney Music Development<br>Trust|||5,700||
|Kiln Theatre||||5,000|
|Lewisham<br>Music|||3,810||
|Music ofLife Foundation||||9,647|
|Play Midlothian||||4,158|
|Rainy Day Trust|||2,000|2,000|
|Ravenscliffe<br>Community|Association||9,380||
|Rudolph<br>Walker Foundation||||1,985|
|Sheriffs and Recorders|Fund||2,000|2,000|
|Skylight Circus||||5,975|
|Starcatchers Productions|Ltd|||5,000|
|Swindon Women's<br>Aid||||3,000|
|The Downright<br>Special|Network||8,869||
|The Garage Trust Ltd||||10,000|
|The Green Team (Edinburgh k Lothians) Ltd|||9,540||
|The Talent Tap|||6,985||
|Transform<br>Training|||3,600||
|Warrington<br>Youth Club|Ltd|||5,486|





## 

||2021|2020|
|---|---|---|
||8|f|
|Wirral Youth Zone||9,272|
|YKIDS Ltd|5,656||
|Young Lewisham Project||8,000|
||84,830|123,522|
|SirRobert Geffery's School Charity, Landrahe|||
|SirRobert Geffery's School, Landrake|6,046||
||6,046||
||617,440|534,359|



