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|CONTENTS||Page|
|---|---|---|
|Trustee and advisors|||
|Trustee report||2-3|
|Independent
auditors'|report|4-6|
|Statement offinancial|activities||
|Balance sheet|||
|Notes to the financial|statements|9-13|
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|Trustee||The Master,
Wardens|The Master,
Wardens|and|Commonalty|Commonalty|of the|Art or Mistery of|
|---|---|---|---|---|---|---|---|---|
|||Salters' London|||||||
|Master||Ms TJNichols|||||||
|Upper Warden||Mr JRFranklin|||||||
|Second Warden||Mr JWH Wordie|||||||
|Bankers||Lloyds Bank pic|||||||
|||Threadneedle
Street,||London|||||
|Solicitors||Pinsent Masons LLP|||||||
|||London|||||||
|Investment|Manager|Newton
Investment|Management
Limited||||||
|||London|||||||
|Auditors||Saffery Champness|LLP||||||
|||71 Queen Victoria Street|||||||
|||London|||||||
|||EC4V4BE|||||||
|Trustees'|power ofinvestment|The Trustees' powers||ofinvestment||are governed||by a Scheme of|
|||the Charity Commissioners|||sealed|on 1 February||1963with a|
|||supplemental
order|sealed||on 14June 1996||||
|Clerk to the 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.|226799|||||||
|Date ofregistration||5 October 1993|||||||
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|||Notes|2021|2020|
|---|---|---|---|---|
||||f|f|
|Fixed assets|||||
|Tangible assets|||81,783|81,783|
|Investments|||2,309,283|2,001,234|
|Total fixed assets|||2,391,066|2,083,017|
|Current
assets|||||
|Sundry debtors|||||
|Cash at bank|||6,753|4,881|
|Total current assets|||6,753|4,881|
|Current
liabilities|||||
|Creditors|||(2,184)|(2,314)|
|Net current assets/(liabilities)|||4,569|2,567|
|Net assets|||2,395,635|2,085,584|
|The funds ofthe Charity|||||
|Unrestricted
funds|||52,769|43,091|
|Designated
funds|||36,119|28,747|
|Permanent
endowment|fund||2,306,747|2,013,746|
|Total Charity funds|||2,395,635|2,085,584|
|||||Designated||||
|---|---|---|---|---|---|---|---|
|||||Fund:||||
|||||Extra|Permanent|2021|2020|
||||Unrestricted|Ordinary|endowment|Total|Total|
||||funds|Repair|fund|funds|funds|
|||Notes||f|f|||
|Income froani||||||||
|Investments|||40,597|882||41,479|57,606|
|Total income|||40,597|882||41,479|57,606|
|Expenditure
on:||||||||
|Charitable
activities||||||||
|Grants made|||18,000|||18,000|30,000|
|Running
Almshouses|||17,289|||17,289|23,245|
|Other|||1,700|||1,700|1,990|
|Totnl cxpenditurc|||36,989|||36,989|55 235|
|Net income before investment||||||||
|gains|||3,608|882||4,490|2,371|
|Net investment|gain/(loss)|4|6,070|6,490|293,001|305,561|(119,160)|
|Net income and nct movement||offunds|9,678|7,372|293,001|310,051|(116,789)|
|Reconciliation|offunds|||||||
|Funds at
1 July|2020||43,091|28,747|2,013,746|2,085,584|2,202,373|
|Funds at 30June 2021|||52,769|36,119|2,306,747|2,395,635|2,085,584|
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|||||||2021f|2020|
|---|---|---|---|---|---|---|---|
|Secondment||charges - The Salters' Management||Company|Limited~|15,526|15,183|
|Charitable|giving - grant to the Salters' Charitable|||Foundation||18,000|30,000|
|Audit fee||||||1,700|1,990|
|Almoner's|expenses|||||(1)|185|
|Miscellaneous||expenses||||1,356|7,483|
|Investment|managers'||fees|||377|394|
|Bank charges||||||30||
|||||||36,989|55,235|
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|An analysis of|the investm|ents
attributable
to the funds|ofthe Charity is set out b|elow:||
|---|---|---|---|---|---|
||||Capital|||
||||(permanent|||
||||endowment)|Unrestricted||
||||fundf|fundsf|Totalf|
|Stock exchange|securities|at market value|2,260,109|49,046|2,309,155|
|Deposits|||108|20|128|
|30June 2021|||2,260,217|49,066|2,309,283|
|30June 2020|||1,958,678|42,556|2,001,234|
|||||2021f|2020f|
|Market value at 1 July|||2,001,234||2,114,296|
|Additions||||2,500|6,116|
|Proceeds||||(11)|(18)|
|Net investment|gains|||305,560|(119,160)|
|Market value|at30June||2,309,283||2,001,234|
|Historic cost|||1,260,880||1,258,380|
||Investments
held at 30June 2021 considered|Investments
held at 30June 2021 considered|Investments
held at 30June 2021 considered|material|in the context ofthe market value ofthe portfolio are:|in the context ofthe market value ofthe portfolio are:|
|---|---|---|---|---|---|---|
||Newton
Fund Managers|Global Growth and||Income|||
||Fund for Charities||||2,309,155|2,001,234|
|5|Creditors||||||
||||||2021f|2020f|
||Other creditors||||1,977|2,069|
||The Salters' Management|Company|Ltd||207|245|
||||||2,184|2,314|
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|Net assets analysed
between funds|||||
|---|---|---|---|---|
||||Capital||
||||(permancnt||
||Unrestricted|Designated|endowment)|Total:|
||fundsf|fundf|fund|2021f|
|Land and buildings|||81,783|81,783|
|Investments|49,046|36,119|2,224,118|2,309,283|
|Net current assets|(2,047)||6,904|4,569|
||46,999|36,119|2,312,805|2,395,635|
|PRIOR YEAR: Net assets|||||
|analysed
between funds|||Capital||
||||(permanent||
||Unrestricted|Designated|endowment)|Total:|
||fundsf|fund|fundf|2020f|
|Land and buildings|||81,783|81,783|
|Investments|40,524|28,747|1,931,963|2,001,234|
|Net current assets|2,567|||2,567|
||43,091|28,747|2,013,746|2,085,584|
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|||||Fund:||||
|---|---|---|---|---|---|---|---|
|||||Extra|Permanent|2020|2019|
||||Unrestricted|Ordinary|endowment|Total|Total|
|||Notes|funds|Repair|fund|funds|fundsf|
|Income from:||||||||
|Investments|||56,620|986||57,606|54,708|
|Total income|||56,620|986||57,606|54,708|
|Expenditure
on:||||||||
|Charitable
activities||||||||
|Grants made|||30,000|||30,000|30,000|
|Running
Almshouses|||17,251|5,994||23,245|17,237|
|Other|||1,990|||1,990|1,800|
|Total expenditure|||49,241|5,994||55,235|49,037|
|Net income before investment||gains|7,379|(5,008)||2,371|5,671|
|Net investment|gains|4|(584)|(2,532)|(116,044)|(119,160)|141,109|
|Net income and net movement||of||||||
|funds|||6,795|(7,540)|(116,044)|(116,789)|146,780|
|Reconciliation|offunds|||||||
|Funds at
1 July|2019||36,296|36,287|2,129,790|2,202,373|2,055,593|
|Funds at30June 2020||6|43,091|28,747|2,013,746|2,085,584|2,202,373|