Registeyed Charity Number: 226799
SALTERS, COMPANY CHAR￿[Es OF NICHOLAS AND BEAMOND
ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2024

SALTERS, COMPANY CHARrrIKs OF IYICHOLAS AIW BEAMOND
Co￿TE￿s
Page
TTUStee and advtsors
TTUStee report
Ind¢p¢ndent ouditors, r¢w)rt
Statement of financial a¢tivitleS
Balance sheet
Notes to the financial statements
9-13

SALTERS, COMPANY CHARITIES OF NICHOLAS AND BEAMOND
TRUSTEE AND ADVISORS
FOR THE YEAR ENDED 30 JUNE 2024
Trustee
The Master. WaTden5 and Commonalty of ihe Art or Mistery of
Salters, London
Master
Mr RP Vacher
Upper WardeD
Mr AS Mcmurtrie
SÈeond Warden
The Lord Rockl¢y
Bankers
Lloyds Bank plc
Threadneedle Str¢et. London
Sollcitors
Pinsent Masons LLP
London
Investment Manager
Newton Investment Management Limited
IAindon
Audl¢ors
Saffery LLP
71 Queen Victoria Street
London
EC4V 4BE
Trnglee'8 power of investment
Th¢ Trusl¢¢'s powers of investment ar¢ governed by a Scheme of
the Charity Commissioners sealed on l February 1963 with a
supplemental order sealed on 14 June 1996
Clerk to the Trnslee
Mr TD Smith
Enquiries about the Charity should b¢ addressed to
Mr TD Smith
The Salters, Company
Salters, Hall
4 London Wall Pl8¢e
London
EC2Y SDE
Registered Cb*rity No.
226799
Date of registrntion
5 October 1993

SALTERS, CONIPANY CHAIUTIES OF NICHOLAS AND BEAMOL
REPORT OF THE TRUSTKE
FOR THE YEAR ENDED 30 JUNE 2024
Th¢ Trustee presents its report for the year ended 30 June 2024.
Trustee
The Trustee is appointed and serves in accordance with the terms of the Trust Deed. The Trustee meets to discuss
Salters, Company Charities of Nicholas and Bearnond matters at least twice & year. either as the Salters, Court or an
appointed sub-committee.
Trustee and *dvisor8
The nam¢s of the Trustee and its advisors are shown on the preceding page.
Statement of Trustee responjibilities
The Trustee is responsible for preparing the ReTX)rt of the Trustees and the financial statements in accordance with
applicable law and Unit¢d Kingdom Accounting Stsndards (United Kingdom Generally Acc¢pted Accounling
Practic¢).
The law applicable to charities in England & Wales requires the Trustee to prepare financial slatetnents for each
financial year which give a true and fair view of the state of affairs of the Charity and of the incomin8 resources and
application of resources of the Charity for that period. In pr¢paring ihese financial statements, the Trustee is required
to..
select suitable accounting policies and then apply them consi.stenily;
observe the methods and principles in the Charities SORP (Statement of Recommended Practice):
make judgements and estimates that are reasonabl¢ and prudent.
state whether applicable accounting siandards have be¢n followed. subject to any materi&l departures disclosed
and explained in th¢ financial stalemenls; and
prepare the financial statements on the going con¢¢rn basis unless it is inappropriate to presume that the Charity
will continue as a Boing concern.
The Trust¢¢ is responsible for keeping proper accounting records which disclose with reasonabl¢ a¢¢ura¢y at any
lime the financial position of the Charity and lo enable it to ensure that the financial statements comply with the
Charities Act 201 I, the Charity {A¢¢ounts and Reports) Regulalions 2008 and the provision5 of the Trust deed. It is
also r¢sponsibl¢ for the prevention and detection of fraud and oiher irregularities.
Th¢ Charity
The Almshouses originally comprised six houses, fom)erly in Bread Street, afterwards in Salters, Court, Bow Lan4
founded by Ihe Will of ThoTnas Beamond, 1455. and twelve houses, fomierly in Monk Stre¢t. founded by the Will of
Sir Ambrose Nicholas, Kt., l 578. Eighteen houses were built at Salters, Gardens. Church Road, Watford in 1863.
These have now been converted into 39 residential units of differing sizes.
A further eight house5 were built at
Waiford in 1974, thus currently totalling 47 residential units. The Charities of Nicholas and B¢8mond. with numerou5
subsidiary endowments, were consolidated in 1924 by Order of the Charity Commissioners. The regulation of the
Charities is governed by a Scheme sealed on 16 October 1974, as rnodified by V4 Scheme sealed on 5 October 1993
with a supplemental ord¢r s¢aled on 14 June 1996.
The Charity sold a long-leasehold to the Warden Housing Association for 125 years from 1992.
Investment powersy policy And performance
The Trustee's investment Jxywers are governed by the Trust Deed, which pennits the Charity's funds to be invested in
any security listed on the London Sto¢k Exchange.
The policy 15 to produce the optimum total return from income or capital. whichever is the more effective in th¢
prevailing conditions.
The Charity'5 investmenls have continued to be managed by Ih¢ Charity's investment manager in conforniity with
the Charity's policy and the Trust Deed.
The value of the portfolio increased during the year, net of purchases. by 9.211/
Key Personnel
The Charity's key personnel and decision makers are the Court of the Salters, Company acting for the Company as
Trustee and the Clerk to the Trustee. They did not receive remuneration.

SALTERS. COMPANY CHARrriES OF NICHOLAS AND BEAMOND
REPORT OF THE TRUSTEE (continued)
FOR THE YEAR ENDED 30 JUNE 2024
Principal risk5 and uneertslntles
The Trustee consider5 there are no material risks or uncertainties about the Charity's ability to continue as a going
ncern due to the value of the totsl Charity funds at the yeay-end.
The Trustee has assessed the major risks to which the Charity is exposed, in particular those related to the op¢rations
and finances of the Almshouses. These have been &ddressed by (a) leasing the Almshouses to the Warden Housing
Association (now Home Group Limited a registered society under the Co-operntive and Community Benefit Societies
Act 2014 (registered number 22981 R)) to manage their operation (b) the long-terni Tnaintenance of the building assets
and (c) continuing to grow the endowment of the Charity. To address th¢ maintenance risk a quinquennial survey
was commissioned during 2019, its findings being used to ensure Home Group is maintaining the asset appropriately.
Objeetiveg #nd aim$ of the Chgrity
Following the sale on l January 1992 of a 125 years lease of the Salters, Gard¢n5 Slte to Warden Housing Association
in return for a lump sum premium of £225,000 and retention of the right to nominate residents to a minimum of 12
units of accommodation (nomination rights were transferred to the leaseholder in 2010), the income of the Charities
exc¢eded that which was needed io fulfil the principal objective set out in the Scheme, namely to apply th¢ income
for the benefit of the almspeople or of any of them in such manner as ihe Trustee Ihinks fit from time to time.
The Scheme allows that. if in any yearthe income of the Charities cannot be applied for the benefit of the almshouse5
nd their residents. il may be applied in one or more of the followin8 way5..
for the benefit of the alm.4hous¢s belonging lo James Smith's Almshouse Charity in the Royal Borough of
Windsor and Maid¢nhead, in the Royal County of Berkshire and the residents thereof.
for the relief of poor members of the Salters, Company;
for the relief of poor peopl¢ in Greater London.
Activitieg of the ChArity
In ihe Current year a donation of £25,000 {2023.' £25,000) was made to the Salters, Charitable Foundation. At 30
June 2024 there were 13 residents. occupying 12 almshouses (2023.. 13 residents occupyin8 12 almshouses).
Publlc benellt
The Truslee has referred to the guidance contained in the Charity Commission's genetEI guid8nce on public benefit
when reviewing th¢ aims and objeetives and in plannin8 future activities. In particular the Trust¢¢ ronsiders how
planned activities will contribute to the aims and objeclives it has set. The Trustee consider the current activities
deliver publi¢ b¢n¢fit. Details of the activities are giv¢n earlier in this report.
FinAncial position and reserves policy of the Charlty
Net gain before investment gains was £9,577 (2023.. £5.726). This nel expenditure ¢ombined with a gain on
investments of £206,777 {2023.. £126,930) led to a gain in valu¢ of the pemi8nenl endowment and unrestricted funds
of £216.354 (2023.. £132,656).
It is the Truslee's intention to hold reserves excluding lh¢ endowment equal to at least one year's expenditure. At 30
June 2024 unrestricted reserves are £77,579 (2023.. £64,547)- Expendilure in the current year was £47.000 (2023..
£49.655). The Trustee will aitn to hold this level of reserv¢5 over the medium terni.
Future plans
The Trustee will continue to meet the objective and aim of the charity which is to apply the incolne of the Charity
for the benefit of the almspeople of the Charity or any of them in such a rnanner &s the Trustee thinks fit from lime
to lime, working in partnership with Warden Housin8 Association (Home Group Ltd) and by pursuing their ¢urrenl
investm¢Dt slrntegy and policie5 for the distribution of Surplus resources for the poor of Greater London.
For and on behalf of Salters, Company Charit.
5 Of Nicholas and Beamond on 7th November 2024.
Mr RP Vacher
Master
For the Trustee
Mcmurtrie
pper Warden
For the Trustee
MrT
Clerk to t
rustee

SALTERS, COMPANY CHARITIES OF NICHOLAS AND BEAMOL
INDEPENDENT AUDITORS, REPORT TO THE TRUSTEE
FOR THE YEAR ENDED 30 JUNE 2024
Opinion
W¢ have audited the financial statements of the Sali¢rs' Company Charities of Nirholas and Beamond for the year
ended 30 June 2024, which comprise the Statement of Financial Activities, the Balanc¢ Sheet and notes lo the
financial stalemenls, including a Summary of si8nificant accounting policies. The financial reporting framework
that has been applied in their prepardtion is applicable law and United Kingdom Accounting Standards. including
Financial Reporting Standard 102, the Finan¢ial Reporting Standard applicable in the UK and Republic of Ireland
(United Kingdom Generally Accepted Accountin8 Pwlice).
In our opinion the financial statements..
give a true and fair view of the slate of the charity's affairs as at 30 June 2024 and of its incoming resources
and application of resources for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practicc.
and
have been prepared in accordance with the requiremenls of the Charities Act 2011.
BAsl8 for opinlon
We conducted our audit in a¢¢ordan¢¢ with International Standards on Auditin8 (UK) (ISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit
of the financial ststements section of our report. We are independent of the charity in accordance with the thhical
requirements that are relevanl to our audit of the financial statements in Ihe UK. including ihe FRC'S Ethie&l
Standard, and we have fulfilled our other eihical responsibiliti¢s in accordance with ihese requirements. We
believe that the audit evidence w¢ have obtained is sufficient and appropriate lo provide a basis for our opinion.
Conclusion relating to going eon¢ern
In auditing the financial statements. we have concluded that the tTusl¢e's use of the going concern basis of
accounting in the pr¢paralion of the financial siatements is appropriate.
Based on the work we have perfornied, we have not identified any material uncertainties relating lo events or
conditions that, individually or coll¢cliv¢ly, may cast significant doubt on the Charity's ability to continue as a
going concern for a period of at least twelve months from when the financial statern¢nts are authorised for issue.
Our responsibilities and the resw)nsibilities of the trustee with respect lo going concern are described in the relevant
sections of this report.
Other inform&lion
The Iruste¢ is responsible for the other irtfomiation. The other infom)ation comprises the inforniation included in
the annual rep¥)rt, oiher than the financial statements and our auditor's report thereon. Our opinion on ihe financial
statements does not cover the other informalion and. except to the extent otherwise explicitly ststed in our reporL
we do not ¢Kpress any fortn of assurance conclusion thereon.
Our responsibility is to read ihe other infomiation and. in doing so. consider wheth¢r the other inforniation is
materially inconsistent with the financial statements or our knowledge obtained in th¢ course of the audit or
otherwise appears to be materially misstated. If we identify such tnaterial inconsistencies or apparent material
misstatements, we are required io det¢rniine whether this gives rise to a material misstat¢ment in the financial
statements themselves. If, based on Ihe work we have performed, we conclud¢ that there is a material mi55tatement
of this other inforniation- w¢ required to report that fact.
In connection with our audit of the financial statements. our responsibility 15 lo read the other inforniation and, in
doing so, consider whether the other information is materially inconsisl¢nt with the financial ststements or our
knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material
inconsistencies or app8￿nt malerial misstaiements, we are required to d¢tern)ine whether there is a material
misstaletnent in the financial slat¢m¢nls or a material tnisstatement of the other infonnation. If, based on the work
we have performed, we con¢lude that there is a material misstatement of this oiher infomiation, we are required to
rep)rt that fact.
We have nothing to report in this regard.

SALTERS, COLWIPANY CHARITIES OF NICHOLAS AND BEAMOND
INDEPENDENT AUDITORS, REPORT TO THE TRUSTEE (continued)
FOR THE YEAR ENDED 30 JUNE 2024
Matten on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities {Accounts and
Report5) Regulations 2008 require us to report lo you if, in our opinion..
th¢ inforniation given in the Trustee's Annual Report is inconsislenl in any malerial respect with the financial
statements. or
the Charity has not kept sufficient accounting records- or
th¢ finan¢ial statetnents are not in agreement with the accounting records and returns. or
we have not received all the inforniaiion and explanations we require for our audit.
R¢5ponslbilities of trustee
As explained more fully in the Trustee'5 Responsibilities Statement set out on page 2, the trustee is responsible
for the preparalion of the financial stalements and for being satisfied thai they give a twe and fair view. and for
such internal control as the trusttt detemiines is necessary to enabl¢ the preparation of financial statements that
are free from material misstal¢m¢nt. whether due to fraud or erroT.
In preparing the financial statements, the trust¢¢ is resFrf)nsible for assessing the charity's ability to continue as a
going concem, disclosing. as applicable. matters related to going concern and using the going con¢¢rn basis of
accounting unless the trustee either intends to liquidate the charity or to cease operations, or have no realistic
alternative bul to do so.
Audltor's responsibilities for ¢he Audit of the finiftclal statements
We have been appointed as audiiors under the Charities Act 201 l and report in accordance wilh regulations made
under th81 Act.
Our objectives are to obtain reasonable as5uran¢e about whether the financi81 statemenis as a whole are fr¢¢ from
material misstatements, whether due lo fraud or error, and lo issue an auditorfs report that includes our opinion.
Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conduLled in ac¢ordance
with ISAS (UK) will always detect a moterial mi5Statement when il exists. Misstatemcnis can aris¢ from fraud or
etyor and are considered material if, individually or in the aggregate. Ihey could reasonably be expected to
influenc¢ Ihe ¢conomic decisions of users taken on the basis of these financial ststements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures
in line with our responsibilities. outlined 8iM)V¢, to detect material misslatements in respect of irre8ularities,
including fraud. The specific procedures for this engagemenl and the extent to which these are capable of detecting
irregularitl¢5, includin8 frnud are detailed below.
Identifying and assessin8 risks related to irregularities..
We &8sessed the susceptibility of the Charity's financial statements to material misstatement and how fraud might
occur, including through discussions with ￿PresentativeS of ihe trustee, discussions within our audit team
planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We
evaluaied possible incentives and opportuniiies for frnudul¢n¢ manipulation of the financial Statements. We
identified laws and re8ulations that are of si8nificance in the context of the Charity by discussion with
represenlatives of the trustee and updating our understandin8 of the sector in which the Charity operaies.
Laws And regulations of direct significance in the conlext of th¢ Charity include the Charities Act 2011, the
Charities (Accounts and Reports) Regulations 2008 and guidance issued by the Charity Commission for England
and Wale5.
Audit r¢sw)nse to risk identifi¢d.
We considered the extent of compliance with these laws and regulations as part of our &udit procedures on the
related financial stAtement it¢m5 including a review of financial statement disclosu￿$. We reviewed the Charity's
records of breaches of laws and regulations, minutes of meetings and correspond¢n¢e with relevant authorities to
identify potential material mi55tatements arisin8. We discussed the ChariWs policies and procedures for
compliance with laws and regulations with members of management responsible for complian¢e.

SALTERS, Col￿ANy CHARrrIES OF NICHOLAS AND BEAMOND
tNDEPENDENT AUDITORS, REPORT TO THE TRUSTEE (continued)
FOR THE YEAR ENDED 30 JUNE 2024
During the planning meeting with the audil team, the engagement partner drew attention to the key areas which
might involv¢ non-compliance with laws and regul&tions or fraud. We enquired of management whether they were
aware of any instances of non-compliance with laws and regulations or knowldg¢ of any actual, suspected or
alleged fraud. We addressed the risk of fraud through management ove￿Ide of controls by testing the
appropriateness of journal entries and identifying any si8nifi¢ant transactions that were unusual or outside the
nornial course of business. We assessed whether judgements made in making a￿OUntIng estimates gave rise to
)ssible indication of management bias. At the completion stage of the audit, the ¢ngag¢menl partner's review
included ¢nsuring that the team had approached their work with appropriate professional scepticism and thus the
capacity to identify non-compliance with laws and regulations and fraud.
There are inherent limitations in the audit procedures described al)ove and the further removed non-compliance
with laws and regulations is from the events and transactions reflected in the fin8nciAI ststem¢nls, th¢ less likely
we would become aware of il. Also, the risk of not detecting a material misslatemenl due to fraud is higher ihan
the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by. for example,
forgery or in¢¢n¢ional misrepresentations, or through Collusion.
A further dwription of our responsibilities for th¢ audit of the financial stai¢ments is located on the Financial
Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description fom)s part of our
auditor's report.
Use of our report
This report is made solely lo the charity's truslee, as a body. in accordance with part 4 of the Charities {Accounts
and Reports) Regulations 2008. Our audit work has been undertaken so that we might state lo the trustee tho
matt¢rs we are required to state to them in an auditors, report and for no other purpose. To the fulles¢ extent
perniitted by law, we do not awept or assume responsibility to anyone other than the charity and the trustees as
body, for our audit work, for this report. or for the opinions we hav¢ fornied.
IÉ Ljoatr 102
Saffery LLP
Statutory Auditors
71 Queen Victoria Sire¢L London, EC4V 4BE
Saffery LLP is eligible to act as an auditor in tmns of sectioll 1212 of the Companies Act 2006 and consequ¢ntly
to act as the auditor of a registered charity.

SALTERS, COL￿PANy CHARITIES OF NICHOLAS AND BEAMOND
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR EI¥DED 30 JUNE 2024
Deslgnatsd
Fund:
Extra
Perrn3nent
OrdinAry endowment
Repair
fund
2024
Total
funds
2023
Total
ds
Unrestrieted
furtds
Notes
In¢ome from:
Investm¢nL8
55,377
1,200
56.577
55.381
Total income
56,577
55,381
Expenditure on:
Charitable activities
Grants made
Running Almshouses
Other
25,000
19.421
2,579
25.000
19,421
2.579
25,000
21,440
3,215
Total expendlture
Net income before finvestment
gains
Net investment gain/(loss)
Net ID¢om¢ and net movemellt of
funds
47,000
47.000
49,655
8,377
4.655
1,200
3,617
9,577
206.777
5.726
126.930
198,505
13,032
4.817
198,505
216,354
132,656
Re¢on¢illation of ￿ndS
Funds at l July 2023
39,504 2,387,579
2,491,630
2.358.974
Funds at 30 June 2024
44.321 2,586,084
2.707,984
2,491,630
All of the above results derive from continuing activities of the Charity.
There are no recognised gains and losses other than those reported above.
Nol¢s I to 9 forn] part of these financial statem¢nls.

SALTERS, COMPANY CHARrrIES OF NICHOLAS AND BEAMOND
BALAIYCE SHEET
AS AT 30 JUNE 2024
Notes
2024
2023
Flxed
Tangible assets
Investments
Tot81 flxed Assets
81.783
2,604,702
2.686,485
81,783
2.397.925
2,479,708
Curren¢ Assets
Sundry debiors
Cash at bank
Tot41 current assets
Current Ilabllltles
Creditors
12,757
16,072
28,829
18,357
Net current aSSe￿{liAbIlItIe5)
N¢t 8sJets
21.499
11,922
2 707 984
2491630
The fund8 ofthe Ch*rlty
Unrestricted funds
Designated funds
Pemianent ertdowm¢nt fund
Total ChArity funds
77,579
44.321
2,586.084
2 707 984
64.547
39,504
2 387 579
2491630
The financial statements on pages 7 to 13 were approv¢d by the Trustee on 7th November 2024
Mr RP Vacher
Master
For the Trust¢e
AS Mcmurtrie
Upper Warden
For the Trustee
MrTD
Clerk to the Trustee
The notes I to 9 forni part of ihese financial statements.

SALTERS, COLVIPANY CHARITIES OF IYICHOLAS AND BEAMOND
NOTES TO THE FINANCIAL STATEMELYrs
FOR THE YEAR ENDED 30 JUNE 2024
Aceoun¢ing poli¢ie5
l. l Aceoun¢ing convention
The accounts have been prepared under the historical cost convention with items recognised at cost or
transaction value unless otherwise stated in the relevant note(s) to these accounts. The a¢¢ounts have been
prepared in a¢cordance with the 'Slatement of Recommended Practice.. Accounting and Reporting by Charities
preparing their &ccounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic
of Ireland (FRS 102) (2nd edition) and the Charities Act 2011.
The financial statem¢nts have been prepared to give a true and fair view and have departed from the Charities
(Accounts and Reports) Regulation5 2008 only to the extent required to provide a true and fair view. This
departure has involved following the SORP rnther than Accounting and Reporting by Charities: Stalement of
Recommended PrH¢ti¢¢ (revised 2005) which has been withdrawn.
The financial statements ar¢ prepared in pounds sterling, which is the functional currency of the Charity.
Monetry amounts in these financilll statements are rounded to th¢ n¢ar¢st £.
The Charity constitut¢s a publi¢ benefit entity as defined by FRS 102.
The Truste¢ considers there are no material uncertainties &lx)ut the Charity's ability lo Continue as h going
concern due lo the value of the total Charity funds at lh¢ year-end.
1.2 Turllovtr
Turnover represents inv¢stmenl income.
1.3 Trixed ossets
The freehold housing land & buildings is slated al cost. No depreciation has been char8ed on the basis that it
would be immatcriAI. As a resuli the freehold properties are subjected to impairnient r¢vi¢ws 81 the end of each
reporting period.
1.4 Investmenl income
Investm¢nt income is credited on an accruals basis.
1.5 Repalr8
Following the grant of a 125 year l¢as¢ lo Warden Housing Association of the Almshouses following
redevelopment, the Charity Commission has agreed that no further annual contributions will be made to th¢
extraordinary repairs fund. The extr&ordinary repairs fund is being retained and both this and the genernl fund
may be added lo in future years at the discretion of the Trustee.
1.6 Fund accounting
For the purposes of these financial Slatements, fund5 have been se8re8ated into-
ital Fund
Being pernianent endowment funds which relate to funds donated where c&pital is required to be retained in
perpetuity and the income is for use by the TtW5tee in lurthering the Charity's objects. Where the Trustee has
right to utilise the capital these funds are expendable endowment and when tht right isxxercised a transfer is
made from Capital to income.
Income Fund
Where the funds can be expended at the discretion of the Trustee. The income fund includes Extraordinary
Repairs Fund {EORF), which ha5 be¢n designated by the Trustse for futur¢ repairs and to assess what repairs
are required.
1.7 Investments
Investments are stated at market value.

SALTERS, COMPANY CHAIUTIES OF LYICHOLAS AND BEAMOND
NOTES TO THE FINANCIAL STATEMENTS
FOR TH£ YEAR ENDED 30 JUNE 2024
Accounting Policies (continued)
1.8 Critical eslima¢es And Judgements &nd key sources of estimailon ulleertai￿ty
In the application of the Charity's accounting wlicies. the trustee is required to make judgements, estimates
and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other
sources. The estiTnates are re£ogmis¢d in the period in which the estimate is revised wh¢r¢ the revision affects
only that period. or in the period of the ￿vIsion and fu￿re p￿riodS where the revision affects both current and
futu￿ periods.
1.9 Gifts ID kind
Gifts in kind of shar¢s are valued at the amount realised on their disposal.
2 Expenditure
2024
2023
Secondment char8es- The Salters, Manag¢m¢nt Company Limited*
Charitable giving- grant to the Salters, Charitabl¢ Foundalion
Audit fe¢
Mi￿¢1[￿neOUS ¢xpenses
Investm¢nt managers, fees
Bank charge5
17.605
25,000
2,579
1,495
291
30
15.208
25.000
3.215
5.788
414
30
49,655
* The Sali¢rs' Mana8¢men¢ Company Limited is a subsidiary of The Salters, Company, the Charity's Trust¢¢.
Employment Information
The Charity has no employees.
The Trustee has not r¢￿1Ved ¢ith¢r remuneration nor reimbursement of ¢xp¢nses in this or the preceding periods.
3 Tangible aJsets- Housing land and buildillgx
2024
2023
Cost and net book value at 30 June 2024 and 30 June 2023
Fre¢hold housing land And buildings comprise the Salters, Gardens site and residences. The site and old
residences stated at nil cost, while £81,783 represents the cost of the bungalows built in 1974.
io

SALTERS, COMPANY CHARITIES OF NICHOLAS AND BEAMOND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR EI¥DED 30 JUNE 2024
4 Investmenls
An analysis of the investments attributable to the funds of the Charity is set out below:
Capital
(permanent
endowment)
fund
Unrestrieted
fvrtds
Total
Stock exchange s¢curities ai market value
tkp051ts
2.549.340
115
55.227
20
2.604,567
135
30 June 2024
2.549.455
55.248
2,604,702
30 June 2023
2,347.062
2,397,925
2024
2023
Market valu¢ at l July
Additions
Proceeds
Net inv¢5tment gains l (losse5)
Marke¢ value At 30 June
2,397,925
2,270,995
206,777
2,604,702
126.930
2.397,925
Historic cost
1,264 880
1264.880
Investments held 8130 June 2024 considered material in the context of the market value of the portfolio are:
Newton Fund Managers Global Growth and Income Fund for Charities
2,604,567
2 397,790
5 Debtors
2024
2023
Prepayments and sundry debtors
12.757
6 Creditors
2024
2023
Other creditors
The Salters, Management Company Ltd
2.580
2,541
3.894
6,435
7,330

SALTERS, COLIIPANY CHARITIES OF NICHOLAS AND BEAMOND
NOTES TO THE FINANCIAL STATEll￿NTs
FOR THE YEAR ENDED 30 JUNE 2024
7 Net assets analysed between funds
Capit*l
(permanent
endowment)
IIiDd
Unrestricted
D¢8lgn8ted
fund
Total..
2024
Land and buildings
Investments
Net current ass¢ls
81.783
2.505.134
833
81,783
2,604,702
55,247
22,332
77,579
44,321
2 586 084
2 707 984
PRtOR YEAR: Net assets Analysed
between funds
C*pital
(p¢rTh￿ntnt
endowment)
fund
Unrestrlcted
fundj
DeJl%nated
ruad
Totsl:
2023
Land and buildings
Inveslments
Net current assets
81,783
2,307,578
1,782
2 387 579
81.783
2.397.925
50,843
13.704
64,547
39.504
2,491630
8 R¢l#ted p4rty tran8actlonJ
Expenditure for the year includes £17,605 (2023.. £15,208) relating to recharged employment and
accommodation charges from The Salters, Management Company Ltd. The Salters, Mana8emenl Company
Lid ig a subsidiary of the Salters, Company, the Charity's Trustee. At the year ¢nd lh¢ Charity owed £4.750
(2023: £3,894) to Th¢ Salt¢rs' Management Company Limited.
Salters, Charitsble Foundation is an associated Charity. During the year th¢ Charity made a grant of £25,INJO
(2023.. £25,000) to Solters, Charitable Foundation. Thcre were no other related party transactions during the
year.
12

SALTERS, COMPAiYY CHAIUTt&S OF NICHOLAS AND BEAMOND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
9 S¢Atement of Financial Activliie8 for the year ended 30 Julle 2023
Fund:
Extra
Ordinary
Repair
Perjnanent
endowment
fund
2023
Tot81
funds
2022
Total
funds
Unre$trletsd
funds
Income from:
Inveslments
53,689
53,689
1,692
1,692
55,381
55,381
51.977
51,977
Total income
Expenditure on:
Charilabl¢ activities
Grants made
Running Almshous¢s
Other
25.000
21.440
3,215
25,IXIO
21,MO
3.215
25,000
20,054
1.285
Total expendi¢ure
Net income before iDves¢m¢nt
8aln8
Nel investment gains
Nel income net movemenl of
nds
Reco￿¢11]atL0tt of ￿ndS
Funds Ml l July 2021
49,655
49,655
46,339
4.034
1,692
5,726
126 930
5,638
122 237
6.725
3,694
122,237
132.656
(36,661)
2 265 342
2 358 974
2 395,635
Funds Ydt 30 June 2023
64.547
39,504
2 387.579
2,491630
2,358.974