Registered Charity Number: 226799 SALTERS, COMPANY CHARITIES OF NICHOLAS AND BEAMOND ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2025
SALTERS. COMPANY CHARrriES OF NICHOLAS AND BEAMOND CONTENTS Page Trustee and advisors TrSlee report Independent auditor5, report S¢aternent of financial activities Balan Sheet Notes lo the financial statements 9-13
SALTERS? COMPANY CHARTTIES OF MCHOLAS AND BEAMOND TRusfEE AND ADVtSORS FOR THE YEAR ENDED 30 JUNE 21125 Trustee The Master, Wardens and Commonalty of the Art or Mistery of Salters, London M•ster Mr AS Mcmurtrie Upp¢r Wrde The Lord Rockley Second Wirdell Mr J F Stebbing BAnker8 Lloyds Bank plc Threadneedle Street. London Solicito Pinsent Masons LLP London Investment Manager Newton Investment M8nagemeni Limiied London Audlton S8ffery LLP 71 Queen Victoria Street London BC4V 4BE Trustee's power of lllvestment The Trustee's power5 of investment are governed by a Scherne of the Charity Commissioner5 sealed on l February 1963 with a supplemental order sled on 14 June 1996 Clerk to tbe Trnstee Mr TD Smith Enquiries about the Charity should be addressed to Mr TD Smith The Salters, Company Saliers, Hall 4 London Wall Place London EC2Y 5DE Registered Cbarity No. 226799 Date of re8i5trtio 5 (ktober 1993
SALTEILS? COMPANY CHARITIES OF NICHOLAS AND BEAMOND REPORT OF THE TRusfEE FOR THE YEAR EI¥DED 30 JUIYE 2025 The Trustee presents its report for the y¢ar ended 30 June 2025. Trusttt The Trustee is apFoinled and serve5 in accordance with the frmis of the Trust Deed. The Trute meels to discuss Salters, Cornpany Charities of Nicholos and B¢8mond matters at leASt twice a year, eItr as the Sle[s, Court or an appointed sub-committee. Trustee and advisors The name5 of the Trustee and ils VIsorS are shown on the preceding page. ststement of Trustee responslbili¢ies The Trustee is responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards {Uniled Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires th¢ TrLLStee lo prepare financial statements for each financial year which give a true and fair view of the stale of affairs of the Charity and of the incorning resources and application of resources of th¢ Charity for that period. In preparing these financial statem¢nls, the Tnjsiee is reqUId lo: select suitable accounting policies ond then apply them consistently. observe the methods and principles in the Charilies SOIIP (Siatement of Recommended Practice); make judgements and estimate5 that are reasonable and prudent. st&te whether applicable a¢¢ounting standards have been followed, subject lo any mal¢rial d¢p8rtures disclosed and explained in the financial statemenis; and prepare the finala1 statements on the goingconcern basis unless it 15 inappropriate lo presume that the Charity will continue as a going concern. The Trustee is Te5TM)nsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable it lo ensure that the financial slatemenls comply wilh the Charities Act 2011. the Ch8rity (Account5 and Reports) Regulations 2008 and the provisions of the Trust deed. It is also responsible for the prevention and detection of fraud and other irregularities. The Chlrily The A1rn5houses originally comprised six houses, fornicrly in Bread Street, aftenvards in Saliers, Court, Bow Lane, founded by the Will of Thomas Beamond, 1455, and twelve houses, fomierly in Monk Street, founded by the Will of Sir Ambrose Nicholas, Kt.. 1578. Eightecn house5 were built at Salters, Gardens. Church Road, Warford in 1863. These have now be¢n Converted into 39 residential units of differing sizes. A further eight houses were built ai Warford in 1974, thus currenlly totalling 47 residential units. The Charities of Nicholas and Beamond, with numerous subsidiary endowm¢n¢s, were consolidated in 1924 by Order of the Charity Commissioners. The regulation of the Charitie5 is governed by a Scheme sealed on 16 Ociober 1974. as modified by a Scheme sealed on 5 October 1993 with a supplemental order sealed on 14 June 1996. The Charity sold a long-l¢a5ehold to the Warden Housing Asso¢iation for 125 years from 1992. Investment powersj pollcy *nd performance The Trusttt's investment powers are goyemed by the Trust Deed, which perniitS the Charity's funds to be invesied in any security listed on the London Sto¢k Ex¢hange. The policy is to produce the optimum total return from income or capital, whichever is the more effective in the prevailing conditions. The Charity's investmems have continued to be managed by the Charity's investment manager in Confomiily with the chIty'S policy and (he Trust Deed. The value of the portfolio increased during the year, net of purch&ses, by 3.90/ Key Personnel The Charity's key personnel and d¢¢ision makers ar¢ the Court of the Salters, Company acting for the CoTnpany as Trustee and the Clerk lo the Trustee. They did not receive remuneration.
SALTERS, COMPANY CHARITIES OF NICHOLAS AND BEAMOND REPORT OF THE TRUSTEE (continued) FOR THE YEAR ENDED 30 JUNE 2025 Principal risks and uncertainties The Trustee considers there are no material risks or uncertainiies about the Charity's ability to ntinUe as a going concem due to th¢ value of the total Charity funds ar the y¢ar-end. The Trustee has &sses5ed the major risks to which Ihe Charity is exws& in particular those related to the operations and finances of the Almshouses. These have been addressed by (a) leasing the Almshouses to the Warden Housin Associalion (now Home Group Limited a regisiered society underthe Co-operative and Community Benefit Societies Act 2014 (registered number 2298 IR)) lo manage their operation (b) the long-lemi maintenance of the building a55ets and Ic) continuing to grow the endowment of the Charity. To address the maintenance risk a quinquennial survey was ¢ommissioned during 2019, ils findings being used to ensure Home Group is maintaining the asset appropriaiely. Objeelives and aims of the Charity Following the sale on l January 1992 of a 125 years lease of the Salters, Gardens site to Ward¢n Housing Association in return for a lump sum premium of £225,000 and retention of the righi to nominate residents to a minimum of 12 units of a¢¢ommodation {noTnination rights were transferred to the le&seholder in 20101, the income of the Charities exceeded that which wa5 needed to fulfil the princip81 objective set out in the Scheme, namely to apply the income for the b¢nefi1 of the almspeople or of any of them in such manner as the Trustee ihinks fit from lime to time. The Scheme allows that. if in any year the income of the Charities cannot be applied for the benefit of the almshouse5 and their residents. it may be applied in one or more of th¢ following ways.. for the benefit of the almshouses belonging io Jame5 Smith's Almshouse Chariiy in the Royal Borough of Wind50r and Maidenhead, in the Royal County of Berkshire and the residents Ihereof; for the relief of poor members of the Saliers, Cornpany: for the relief of IMr people in Greater London. A¢¢lvllle$ of tbe ChArlty In The current year a donation of £30,000 (2024.. £25,000} was made lo the Salters, Charitable Foundation. At 30 June 2025 there were 13 residents. occupying 12 almshouses (2024.. 13 residents occupying 12 almshouses). Publ1¢ beneflt The Trustee has referred to the guidance contained in the Charity Commission's genernl guidance on public benefit when r¢vi¢wing the aims and obje¢lives and in planning future activities. In particular the Trustee con5ider5 how planned activities will contribute to the aims and objectives it has sel. The Trustee consider ihe current activities deliver public benefit. Details of the activities are given earlier in this report. Finan¢io1 po$ltloD Merves polley of the Chgrlty Net gain before investment gains was £5,196 (2024.. £9.577). This net expenditure combined with a gain on investments of £101.249 (2024- £206.777) led lo a gain in value of the pemanenl endowment and unrestricted fund5 of £106,445 (2024.. £216,354). li is the Trustee's intention to hold reserves ex¢luding the endowment equal lo at leost one year'5 expenditure. At 30 June 2025 unreslricied reserves are £86,478 (2024-. £77,579). Expcnditur¢ in the current year was £52.457 (2024: £47.000). The Trnstee will aim to hold this level of reserves over the medium temi. Future planB The Trustee will continue ¢0 meet th¢ objective and aim of the charity whi¢h is to apply the income of the Charity for the benefit of the almspeople of the Charity or any of them in such a tnanner as th¢ Trustee thinks fit from tiTn¢ to time. working in partnership with Warden Housing Association (Home Group Lid) and by pursuing their rurrent investment strate&Y and policies for the distribution of surplus resources for the poor of Greater London. For and o beh&lf of Salters, Company Charities of Nicholas and Beamond on 30th Ociober 2025. Mcmurtrie The Lord Rockley Upper Warden For the TrLL8tee &ster For the Trustee Clerk rusiee
SALTERS, COMPANY CHARITIES OF NtCHOLAS AND BEAMOND INDEPEfqDENT AUDITORS, REPORT TO THE TRUSTEE FOR THE YEAR ENDED 30 JUNK 2025 Opinio We have audited the financial statements of the Salters, Company Charities of Nicholas and Beamond for the year ended 30 June 2025, which comprise the Sialernent of Financial Activities, the Balance Sheet and notes lo the financial statements. including a summary of significant accounting policies. The financial reporting fratnework Ihal has been applied in their preparation is applicable law and United Kingdom Accounting Stsndards, including Financial RetM)rting Standard 102, the Financia] Rewrting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted A¢¢ounling Pwtice). In our opinion the financial Slatemenls.. give & true and fair view of the state of the charity's affair5 as at 30 June 2025 and of its Incoming resources and application of resources for the year then ended,. have been properly prepared in accordan¢e wilh unit Kingdom Gen¢r8lly Accepied Accountin8 Practice: and have been prepared in accordance with the requirements of the Charitie5 Act 2011. sls for opinion We conducted our audit in accordance with International Standds on Auditing (UK) (ISAS {UKI) and applicable law. Our responsibilities under tIK)se standard5 are further described in the Auditor'5 responsibilities for the audit of ihe financial stateTnents section of our report. W¢ are independent of the chlty in accordance wilh the ethical requirernents that are relevAni to our audii of the financial statements in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other ethical re5ponsibililies in accordanc¢ with these requirements. We believe thai the audit evidence we have obtained is sufticient and appropriate to provide a basis for our opinion. Con¢lu8loD relatlng to gOlll8 concern In auditing the financial statements. we have concled ihat the trustee'5 use of th¢ goinE ¢on¢em basis of accounting in the preparation of ihe financial statemenis is appropriate. Based on the work we have perfomled, we have not identified any material uncertainties relaling io events or conditions that, individually or ¢ollectively, may cast significant doubt on Ihe Charity's ability lo continue a going ¢oneern for a period of al leost twelve months from when the financial slaternenls are authorised for issue. Our responsibilities and the responsibilities ofthe trustee with r¢spe¢l to going concern are described in the relevant s¢¢tions of this report. Other Inforn)atlon The trustee is responsible for the other inf0mLon. The other information comprises the inforniation included in the annual report, other than the financial stalements and our auditor's report Ihereon. Our opinion on the financial statements does not Cover the other infomiation and, exc¢pt lo the extent Otherwi explicitly slated in our report. we do not express any forrn of assurance ¢onclusion thereon. Our r¢spon5ibility is to read the other infomiation and. in doing so. consider whether the other inforniation is materially in¢ons1Stent with the financial statements or our knowledge obtained in the course of the audit or otherwise appear5 to be materially misstated. If we identify such material inconsisl¢n¢ies or apparent material misstat¢ments, we are required to dern]Ine whether this giv¢s rise to a material misswement in the financial statements themselves. If, based on the work we hav¢ performed, we conclude that re is a muierial misstatement of this other information. w¢ are Tequired to reIrt that fact. We have nothing to report in this regard-
SALTERS, COMPANY CHARITIES OF NICHOLAS AND BEAMOND tNDEPENDEiYf AUDITORS, REPORT TO THE TRUSTEE (¢ontlllued) FOR THE YEAR ENDED 30 JUNE 2025 Matters on which Jve are required ¢0 report by ¢x¢eption We have nothing to report in respect of the following matters in relation to which the Charities {A¢¢ounts and Reports) Regulations 2008 require us to report to you if, in our opinion- the inforniation given in the Trustee's Annual Rew)rt is inconsistent in any material respect with the fiDancial statements. or the Charity has not kept sufficient accounting records. or the financial stslements are not in agreemeni with the accounting records and returns. or we have not received all the infomation and explanations we require for our audil. RespoDsibilitie5 of trustet As explained more fully in the Tnjstee's Responsibilities Statement set out on page 2, the trustee is responsible for the preparation of the financial stalements and for being satisfied that they give a true and fair view, and for such internal control as the trustee deterniines is necessary to enable the preparation of financial statements that are free from materi&l rnissratem¢nt. whether due lo fraud or error. In preparing the financial slalemenls, the trustee is responsible for assessing the chariiy's ability to conlinue as a going concern, disclosiD& as applicable, matters related lo going concern and using th¢ going concern basis of accounting unless Ihe trustee either intends to liquidate the charity or to cease op¢ralions, or have no realistic alternative but io do so. Audltor'8 respDn8ibilltles for the audi¢ of the fln•Tr¢lAI 81glements We have been appointed as auditors under the Charities Act 201 l and report in a¢¢ordan¢¢ with regulations made under that Act. Our objeciives are lo obtain reasonable assurance about whether the finanLial sialements &s a whole are free from material misslalemenis. whether due to fraud or error, and io issue an auditorfs rert that includes our opinion. Reasonable assurance is a high level of assurance, blrt is noi a guaranlee ihat an alIt conducted in accordan¢e with ISAS (UK) will always detect a material rnisstatement when li exists. Misstatements can arise from fraud or error and are considered material if, individually or in the a8gregat¢, they could reasonably be expected to influence the e¢onomi¢ decisions of user$ taken on the bmsis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above. to detect material misstatements in respect of irregularities, including frdud. The specific procedures forthi5 ¢ngag¢ment and the extent lo which these arecapable of deiecling irregularities, includin8 fraud are detailed b¢low. Identifying and 14sessing risks relaied io irregularities: We assessed ihe susceptibilily of the Charity's financial statements to material misstatement and how fraud might occur, including through discussions with representatives of the trustee, discussions within our audit team planning meetin& updating our record of internal controls and ensuring ihesc controls operated as intended. We evaluated tx)ssible inceniives and opportunili¢s for fraudulent manipulation of the finan¢ial ststements. We identified laws and regulalions that are of significance in the contexl of the Charity by discussion with representative5 of th¢ trustee and updating our undeTStanding of the sector in which the Charity operate5. Laws and regulations of direct significance in the context of the Charity include the Charilies Act 2011, the Charities (A¢counls and Reports) Regulations 2008 and guidan¢¢ issued by the Charity Commission for England and Wales. Audit response to risk identified- We considered the extent of compliance wi(h these laws and regulations &s part of our audit procedures on the lai¢d financial statement item5 including a review of financial statement disc105ures. We reviewed the Charity's r¢cords of breaches of laws and regulations, minutes of meetings and Correspondence with relevant authorities to identify tx)tential material Tlli551atem¢nts arising. We discussed the Charity'5 poli¢ses and procedures for compliance with laws and regulalions with members of maagement responsible for compli3fflce.
SALTERS, COMPANY CHARITIES OF NICHOLAS AND BEAMOLYD INDEPENDENT AUDITORS. REPORT TO THE TRUSTEE (eoD¢lnued) FOR THE YEAIi ENDED 30 JUNE 2025 During the p18nning meeting with audit team, the engagement partner drew attention to the key areas which might involve non-compliance wilh laws and regulations or fraud. We enquired of managetnent whether they w¢re aware of any instances of non-compliance with laws and regulations or knowledge of any aclual. stLspected or alleged fraud. We address¢d the risk of fraud through tnanagement override of controls by testing the approprialettess of journal ¢nlries and identifying any significant transactions that were unusual or outside the nornial course of business. We assessed whether judgeTnents made in making accounting estimates gave rise a possible indication of management bias. At the completion stage of the audit, the engagement partner's review in¢luded ensuring that th¢ ieam had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and r¢8ulaiions and fraud. There are inhereni limitations in the audit procedures described above and the further remov¢d non-compliance with laws and r¢gulalions is from the events and Iransaclions reflect¢d in the financial statements, the less likely we would become aware of it. A150. the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error. as fraud may involve deliberate concealm¢nt by. for example, forgery or intentional misrepresentstions, or through collusion. A further d¢scriplion of our responsibilities for the audit of the financial statements 15 located on the Financiai Reporting Council's websiie at- www.frc,org.ukJauditorsresponsibilities. This description fomis part of our auditor's report. U* of our report This report is made solely to the charity's tTusle¢, 85 a body. in accordance with part 4 of the Charities (Account$ and Reports) Regulations 2008. Our audit work has been undertaken so that we might slate to the trustee those matters we are required to state to them in an auditors, r¢port and for no other purpose. To the fullest extent perilled by law. we do not acc¢pl or assume responsibility to anyone other than the charity and ihe ITUStees &8 a body, for our audit work. for this report, or for the opinions we have fomed. Saffery LLP Ststutory Auditors 71 Qu¢en Victoria Street, London. EC4V 4BE Saffery LLP is eligible to art as an auditor in tern)s of section 1212 of the Companies Act 2(M)6 and consequently to a¢t as the auditor of a registered charity.
SALTERS, COMPANY CHARITIES OF NICHOLAS AND BEAMOND STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2025 Designated Fund: ExtrA Permanent Ordinary tndowment Rep¥lr nd 2025 TotAI fyndj 2024 Total furtds Unrestrteted fuDds Notes Income from: Investments 56.701 952 57,653 56,577 To¢AI income 952 57.653 Expendlture on: Charilable activities Grants made Running Almshouses Other 30.IKK) 19.793 30,000 19,793 2,664 25.0(N) 19.421 2.579 Tot1 expemdlture Net IDcome before InveJtmen¢ 4.244 2.147 952 1,723 5.196 101,249 9.577 206,777 Net investment gain Net Income and Det movem¢Dt of fund$ 97,379 6.391 2,675 97,379 106.445 216,354 RecoDcllltlon of fund8 Funds at l July 2024 44.321 2.586.084 2 707 984 2491630 Fundj 4130 JuDe 2025 46.996 2.683.463 2814429 2 707 984 All of the above results derive from continuing activities of the Charity. There are no reCoLsed gains and losses other than those reported above. Notes I to 9 forni part of these financial statements.
SALTERS, COMPANY CHARITIES OF NICHOLAS AND BEAMOND BALANCE SHEET AS AT 30 JUNE 2025 Notes 2025 2024 Fixed assels Tangible assets Investhients Tol81 fixed asyets 81,783 2.705,951 2.787,734 81,783 2,604.702 2,686,485 Current assets Sundry debtor5 Cash al bank Tot41 current Amets Current Ilabllltles Creditors 13,942 19.888 33,830 12.757 16.072 28.829 Net turr¢Dt 8sJetsl(Ilabllltles) 26.695 21.499 Ne¢ &85ets 2 814 429 2.707,984 The funds ofthe Charlty Unrestricted funds Designated funds Pellnanenl endowment fund Totsl Charity fuDd8 83.970 46,996 2 683 463 2.814,429 77,579 44,321 2 586 084 2,707,984 The financial sta¢ements on pages 7 to 13 were approved by the TrLL5tee on 30th October 2025 Mr Master For ihe Trustee cMurtTi¢ The Lord Rockley UpFer Warden For the Trte¢ Clerk t lee The notes I to 9 forni part of these financia15tatements.
SALTERS? COMPANY CHARITIES OF NICHOLAS AND BEAMOND NOTES TO THE FINANCIAL STATEMEIYTS FOR THE YEAR ENDED 30 JUNE 2025 A¢counting policies l. l Aecountlng convention The accounts have been preped under the hislorical cost ¢onvention with items re¢ognised at cost or irAnsaction value unless otherwise stated in the relevant notels) to these accounts. Th¢ ac¢ounts have been prepared in accordance with the'statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (2nd edition) and the Charities Act 2011. The financial statements have been prepared to give a true and fair view and have departed from the Charities (Accounts and Rewrts) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the SORP rather than Accounting and Reporting by Charities.. Staiemenl of Recommended Practice {r¢vised 2005) which has been withdrawn. The financial statemenrs are prepared in pounds sterlin& which 15 the functional CUTTen¢y of the Charity. Monetary amounts in these financial stat¢ments are rounded to the nearest £. The Charity constitutes a public benefit entity defined by FRS 102. The Trustee ¢onsideTS th¢re are malerial uncertainties about the Charity's ability io continue &$ a going concem due to the value of the total Chariiy funds al the year-end. 1.2 Turnover Tumover represents investmenl income. 1.3 Flxed A98tts Th¢ freehold housing land & buildin8S is stated at cost. No depreciation has been Charged on the basis that il would be immaterial. As a result the freehold properties e subjected to impairnient reviews at the end of each reporting period. 1.4 Investment Income Investment income is credited on an a¢¢rua15 basis. 1.5 Repairs Following ihe grant of VI 125 year lease to Warden Housing Asso¢iation of the Almshouses following redevelopment, the Chariiy Commission has agreed that no furth¢r annual contributioi)s will be made to ihe extraordinary repoirs fiind. The extraordinary repairs fund is being retained and both this and ihe general lund may be added to in future years at the discretion of the Truste¢. 1.6 Fund aceountlng For the purposes of these financial statements, funds have been segregated into.. Being Mian¢t ¢ndowment funds which relate to fdS donated where capital is required to retained in perpetuity and the income is for use by the Trustee in furthering the Charily's objects. Where the Trustee has right lo utilise the capital these funds are ¢xpendkble endowment and when that right is exercised a transfer is mad¢ from capital to income. Income FUT Where the funds can be exp¢nded at the discretion of the TTusl¢¢. The income fund includes an Extraordinary Repairs Fund (EORF), which ha8 IKen designated by the Trust¢e for future repairs a[ to assess whot repairs are required. 1.7 1Dve8tments Investments are stated at market value.
SALTEIi8 COMPANY CHARITIES OF NICHOLAS AND BEAMOND NOTES TO THE FINANCIAL STATEMEiYrs FOR THE ITAR ENDED 30 JUNE 2025 A¢¢ouftting Policies (Continued) 1.8 Criti[ e$¢lmate8 and judgem¢nts and key sourees of estimation UDeertainty In the application of the Charity's aecounting liCies, the trustee is requir¢d to make judgetnents, eslimales and ossumpiions about the carrying amount of &5sets and liabilities that are not readily apparent from other sources. The estimates are r¢¢ognised in the period in which the estimate is revised where the Tevision affects only that period. or in the ttri(Kl of the revision and fure peri(MJs where the revision affects both cuffent at future peri(Kts. 1.9 Gifts in kind Gifts in kind of shares are valued at the amount realised on their disposal. 2 Expendlture 2025 2024 Secondm¢nl charges- The Salte, Management Company Limited Charitable giving- 8ranl to Che Salters, Charitable Foundation Audit fee Miscellan¢ous expenses Investment managers, fees Bank charges 19.059 30.000 17,605 25.000 2,579 ,495 291 30 355 355 24 * The Salters, Management Company Limited is a subsidiary of The Saliers, Company, the Charity's Trustee. Employment Infomation The Charity has no employee5. The Trustee has noi received either remuneration nor r¢imbursemenl of expenses in this or the preceding period5. 3 Tangible 8ssets- Houslng l*nd and bulldlngs 2025 2024 Cost and net book value al 30 June 2025 and 30 June 2024 Freehold housing land and buildings comprise the Salters, Gardens site and residences. The sil¢ and old residences are stated at nil cost, while £81.783 repre5ent5 the cost of the bungalows built in 1974. 10
SALTERS, COMPANY CHARITIES OF NICHOLAS AI¥D BEAMOND NOTES TO THE FINANCL4L STATELEWrs FOR THE YEAR ENDED JO JUNE 2025 4 Investments An analysis of the investments attributable io the funds of the Charity is set out lOW- Capltal emanent endowment) furtd Urestrleted fvndy Tot1 Stock exchange securities at market va]ue Dewsits 2,648,441 115 57,375 20 2,705,816 135 30 June 2025 2,648,556 57,395 2.705,951 30 JuDe 2024 2.549.454 55,248 2.604,702 2025 2024 Market value at l July Addition5 Proceeds Nel investment gains l (losses) Marke¢ valu¢ a¢ 30 June 2,604,702 2.397,925 101249 206 777 2705951 2 604 702 Historic cost 1264 880 1.264.880 Investments held at 30 June 2025 considered material in the ¢onlext of the mllrk value of the portfolio are.. Newton Fund Managers Global Growth and Income Fund for Charities 2,705.816 2,604 567 5 Debtors 2025 2024 Prepayments and sundry debtors 12.757 6 Credltors 2025 2024 Other creditors 2,729 2.580 4,750 The Salters, Management Company Lid 7.330
SALTERSY COMPANY CHARrfiES OF NICHOLAS AND BEAMOND NOTES TO THE FINANCtAL STATEMENrs FOR THE YEAR ENDED 30 JUNE 2025 7 Net assets anglysed betsveen funds Capl¢l (p¢rnianent dowment) fu•d Unreslricted fundj DulgDated fuDd Total: 2025 Land ond buildings Investments Net currenl assets 81,783 2.601.560 120 2,683.463 81.783 2.705,951 26,695 2,814.429 57,395 46,996 83,970 46,996 PRIOR YEAR: Net auets onllysed b¢tween funds Cplt*l (pemanent endowrnent) f•nd Unrestrlcted ds Toial: 2024 fund Land and buildings Investments Net current assets 81.783 2.505.134 833 2,586.084 81,783 2,604,702 21.499 2,707,984 55.247 22,332 77.579 44,321 44,321 8 RelAted party tr4nJac¢lons Exp¢ndilure for the year includes £19,059 (2024.. £17.605) relatirt8 to recharged employment and accommodation charges from The Salters, Management Company Ltd. The Saliers, Manag¢ment Company Ltd is a subsidiary of the Salters, Company. the ChaTity's Trustee. At the year end th¢ Charity owed £4,406 {2024- £4,750) lo The Saliers, Management Comparty Limit¢d. Salters, Charitable Foundation is an &8s0¢iated charity. During the year the Charity made a grani of £30,(KrtI (2024.. £25,000) to Salters, Charitable Found70n. There were no other related pty transactions during ihe year.
SALTERS, COMPANY CHARrriEs OF NICHOLAS AND BEAMOND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 9 Sts¢¢ment of FiD*n¢ial Ac¢lvltl¢s for the year ended 30 June 2024 Fll#d.. Extr# Ordlnary Rep%ir Permanent endowment rund 2024 Total nds Unregtrlcttd funds Income from: Investments Tot41 Income ExpeDditure on: Charitable activities Grants made Running Almshouses Other 1.200 56.577 25,000 19,421 2.579 25,000 19,421 2,579 Tot41 expenditure Net Ineome before Investment galns Net invesiment gains N¢t Income and net movement offvnds ReeoncillAtlon of funds Funds at l July 2023 .377 1,200 9.577 206 777 216,354 198.505 198,505 13,032 4.817 2 387 579 2 491630 Fund8 At 30 JuDe 2024 2 586.084 2 707 984