**REGISTERED CHARITY NUMBER: 229067** **REPORT OF THE TRUSTEE AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025** **FOR** ## **THE COMPANY OF MERCHANT TAYLORS** UHY Calvert Smith Chartered Accountants Heritage House Murton Way Osbaldwick York North Yorkshire YO19 5UW **THE COMPANY OF MERCHANT TAYLORS** **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025** ||**Page**| |---|---| |**Report of the Trustee**|1 to 5| |**Independent Examiner's Report**|6| |**Statement of Financial Ac�vi�es**|7| |**Balance Sheet**|8| |**Notes to the Financial Statements**|9 to 22| **THE COMPANY OF MERCHANT TAYLORS** ## **REPORT OF THE TRUSTEE FOR THE YEAR ENDED 30 JUNE 2025** The Trustee has adopted the provisions of Accoun�ng and Repor�ng by Chari�es: Statement of Recommended Prac�ce applicable to chari�es preparing their accounts in accordance with the Financial Repor�ng Standard applicable in the UK and the Republic of Ireland (FRS 102). (effec�ve 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** Company's Hall premises, almshouse and documents and secondly, in or towards such other purposes for the benefit of poor and deserving persons of the said City of York and its suburbs as are charitable. is taken into account when it reviews the objec�ves and ac�vi�es of The Company of Merchant Taylors to ensure they con�nue to reflect the charity's aims. The Hall is used as a mee�ng place for the members of the Company where they conduct the business of the Company in pursuance of the objec�ves as referred to above. The Hall and its facili�es are available to the public for weddings, dinners, conferences and other events. In addi�on, the Hall is opened for public view, at no charge, on a number of occasions during the year. The Company, through its service company, has contracts with a list of Preferred Caterers to provide the catering for these ac�vi�es. Surpluses arising in the service company from the use of the Hall and facili�es by the caterer are donated to the Company as a charity. The Court of Assistants, aided by the Fabric Commi�ee, has established a regular maintenance programme for the upkeep of the Hall. pursuant to their advancement, encouragement and, skill development in the fields of art, cra�smanship and music. -1- **THE COMPANY OF MERCHANT TAYLORS** ## **REPORT OF THE TRUSTEE FOR THE YEAR ENDED 30 JUNE 2025** ## **ACHIEVEMENTS AND PERFORMANCE** ## The Company in the City of York out through our wholly owned subsidiary, the York Merchant Taylors Service Company. Turnover has increased by half as much again as the previous year and is also well above what was seen as a ‘stretch’ budget at the �me it was set. This has not only improved our situa�on financially but has also has contributed significantly to our objec�ve of enabling more people to view our wonderful Hall. Our forecasts indicate this growth will not only be held but further increase in the coming years. A great deal of credit for this must go to the guidance and hard work of the Business Development Commi�ee and a new member of staff who is responsible for this area of ac�vity. One of the Company's key objec�ves is the maintenance of the Hall and gardens - one of the more important Scheduled Monuments in the City - to a suitable standard so that it is available for use and enjoyment by others as an important part of the City's rich heritage and for future genera�ons. The process of annual inspec�on to iden�fy problems (inevitable in a very old building), to have those corrected and also to improve the hall has con�nued. While actual spending has been lower than expecta�on, as �me to get permissions to do work on a listed building can be tortuous and tedious, areas for repair have been iden�fied and/or improved and will be pursued in the coming years. Underspending in the current year has been quan�fied and will be earmarked in reserves for use in the coming year. Our charitable ac�vi�es funded by money endowed to the Charitable Fund and members' contribu�ons, focuses on suppor�ng young people to develop their interests, skills and careers in art, cra�s and the performing arts. In 2024/25 our grants totalled some £10,612. Ac�vi�es have included suppor�ng both the York College Na�onal Arts Club and York Music Hub, the la�er enhancing music skills of a good number of talented young musicians who otherwise would not be able to get such tui�on. Working with York Consor�um of Conserva�on and Cra�manship we have been able to iden�fy and help two stained glass ar�sts/conservators with funding towards equipment. Individual grants have seen funding in support of a young entertainer in their prepara�on for the Edinburgh Fringe and book packs for state schools in York as part of York Book Awards 2024. We have con�nued to celebrate talent by giving merit awards to students at York College and give grants/awards for fashion design and to cra�speople working in tradi�onal cra�s such as stonemasons and glaziers. We have for the last three years entertained the small Ukrainian Community, essen�ally of refugees in York, to celebrate Vyshyvanka Day (na�onal day). We were joined by the Civic Party of York and had a most enjoyable and quite emo�onal day recognising the hardship they were having and stoicism they exhibited. In what we hope will be the rela�vely short term we will probably con�nue such an occasion. ## Company events As men�oned above the Company is now holding its usual programme of events following the tradi�ons over many centuries of the Guild. The Mar�nmas Feast, the Livery Dinner, Interna�onal Women’s Day dinner and notably the 2025 Charter Day event were all well a�ended and enjoyed by both members and our guests. In addi�on, the Company held several other less formal events. ## Membership The Company is very sad to record the death of Ian Black, who had been a Member since 1998. Recruitment into the Membership has con�nued to be buoyant with 50% of new members being female and 30% under the age of 30, both figures re-enforcing our drive to ensure growing diversity within the organisa�on. We also have two new members recruited into the category of Honorary Cra�sperson, which was introduced during the previous repor�ng period, and we are confident there is more success to come in this area to further cement our rela�onships with tradi�onal trades. - 2 - **THE COMPANY OF MERCHANT TAYLORS** ## **REPORT OF THE TRUSTEE FOR THE YEAR ENDED 30 JUNE 2025** ## Staf vehicle on which we rely for our con�nuity. We con�nue to improve our processes to reduce �me taken and cost of opera�ng, involving both members and staff. Increasing ac�vity, development and upkeep have necessitated increasing the hours needed from our staff which they have accepted. ## OUTLOOK We moved into 2024/25 with a great deal of op�mism. That op�mism was jus�fied with the growth in our hospitality opera�ons exceeding our expecta�ons. That op�mism con�nues into 2025/26 where we have set ourselves ‘stretch’ budgets again which we are on track to exceed. As is inevitable with an ancient building there is a constant ba�le against the elements and the need for urgent repairs will put our reserves under pressure for the next few years. We are developing plans for further enhancement of our opera�ons, mee�ng our objec�ves and the involvement of our membership. The Company has been here for hundreds of years and we expect to be for many hundreds more. - 3 - **THE COMPANY OF MERCHANT TAYLORS** ## **REPORT OF THE TRUSTEE FOR THE YEAR ENDED 30 JUNE 2025** ## **FINANCIAL REVIEW** maintaining the Hall and Almshouse together with the costs of management and administra�on. The property and other assets of the Company are insured to cover the cost of reconstruc�on or replacement should this be necessary. The Endowment funds have been invested, with professional advice, for growth without undue risk. Financial transac�ons resul�ng from the conduct of the business of the Company are summarised in the enclosed Financial Accounts for the period ended 30th June 2025. The overall deficit on opera�ons (unrestricted, restricted and endowed funds) was some 19k with unrestricted funds reduced by £17k. However, an upward re-valua�on of £70K for the investment property and a £16K increase in the value of our listed investments means we have £67k to add to our reserves. It is noted that the intercompany debt owed by the Service Company to the Charity has dropped from some £38k at the end of June 2024 to £28k at end of June 2025. A formal inter-company debt has been repaid in full since the year end with a revolving loan facility made available should the need arise. The Court of Assistants (ac�ng as, the Trustee) considers the Company has adequate reserves and future income to ensure it can con�nue as a going concern. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** The Company of Merchant Taylors of the City of York (the Company) is a Company having perpetual succession and a common seal incorporated by Royal Charter granted by King Charles II in 1662. It was registered with the Charity Commission on 23rd October 1963 and the Company of Merchant Taylors is the Charity's corporate Trustee. Sparse historical records indicate a progression from the 12th to the 16th Century of individual ar�san, 'cissor or taylor' to an associa�on of cra� members or 'mystery', (receiving from the City Council Ordinances de Taillours in 1387), with an evolving Court of Master, Wardens, Assistants and Searchers. A merger of the cra� with the Guild or Confraternity of St John the Bap�st around the first half of the 15th Century and about the �me of the building of the Company Hall, a Royal Licence in 1453, led, eventually, to grouping of the Drapers and other clothing cra�s, the adop�on of the present �tle, and in 1662, its Royal Charter. The Company con�nues to be administered through the Court of Assistants whose par�cipants are listed below. Sub-commi�ees provide invaluable support and cover Membership, Business Development, Finance, Fabric, Catering, Charitable and Governance ma�ers. All major decisions are sanc�oned at Full Court mee�ngs to which all members are summoned three �mes each year. Membership is around 105 and admission is by proposal and invita�on. The Company is the owner of an ancient Common Hall known as The Merchant Taylors Hall and of an Almshouse a�ached thereto, situated in Aldwark, York. The Company also owns other parcels of land, situated in and around York. Income is received from the land and from other investments. - 4 - **THE COMPANY OF MERCHANT TAYLORS** ## **REPORT OF THE TRUSTEE FOR THE YEAR ENDED 30 JUNE 2025** ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 229067 ## **Principal address** The Merchant Taylors Hall Aldwark York YO1 7BX ## **TRUSTEE** The Trustee is The Company of Merchant Taylor of the City of York (incorporated by Royal Charter) The Company is administered by a Court of Assistants: S Parker - Master C Wesley - Immediate Past Master S Hobbs - Senior Warden J Rowan - Junior Warden P Lester - Past Master Warden A Warren - Past Master Warden N Dennison - Searcher M Burn - Searcher J Leigh - Searcher E McNeil - Searcher F Phillips - Searcher J Short - Chairman Membership Commi�ee (Co-opted) S Calder - Chairman Catering Commi�ee (Co-opted) N Pearce - Chairman Finance Commi�ee (Co-opted) J Burley - Chairman Fabric Commi�ee (Co-opted) R Wallington - Chairman Charitable Ac�vi�es Commi�ee (Co-opted) D Miller - Chairman Business Development Group (Co-opted) A Boyce - Hon Architect J Leach - Hon Solicitor D Godderidge - Clerk (in a�endance) H Howley - Chancellor (in a�endance) ## **Independent Examiner** Torgersens Chartered Accountants East Suite, Ground Floor Avalon House, St Catherine’s Court Sunderland SR5 3XJ Approved by order of the trustee on 7 March 2026 and signed on its behalf by: S Parker – Master - 5 - **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEE OF THE COMPANY OF MERCHANT TAYLORS** ## **Independent examiner's report to the trustee of The Company of Merchant Taylors** I report to the charity trustee on my examina�on of the accounts of The Company of Merchant Taylors (the Trust) for the year ended 30 June 2025. ## **Responsibili�es and basis of report** As the charity trustee of the Trust you are responsible for the prepara�on of the accounts in accordance with the requirements of the Chari�es Act 2011 ('the Act'). I report in respect of my examina�on of the Trust's accounts carried out under Sec�on 145 of the Act and in carrying out my examina�on I have followed all applicable Direc�ons given by the Charity Commission under Sec�on 145(5)(b) of the Act. ## **Independent examiner's statement** examina�on giving me cause to believe that in any material respect: 1. accoun�ng records were not kept in respect of the Trust as required by Sec�on 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Chari�es (Accounts and Reports) Regula�ons 2008 other than any requirement that the accounts give a true and fair view which is not a ma�er considered as part of an independent examina�on. I have no concerns and have come across no other ma�ers in connec�on with the examina�on to which a�en�on should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Alison Henshaw FCCA Torgersens Chartered Accountants East Suite, Ground Floor Avalon House, St Catherine’s Court Sunderland SR5 3XJ 24 March 2026 - 6 - **THE COMPANY OF MERCHANT TAYLORS** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2025** |Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS**
**FROM**
Dona�ons and legacies
2
**59,247**
**Charitable ac�vi�es**
5
Guild Ac�vi�es
**6,313**
Other trading ac�vi�es
3
**21,998**
Investment income
4
**22,638**
**Total**
**110,196**
**EXPENDITURE ON**
Raising funds
6
**19,565**
**Charitable ac�vi�es**
Guild Ac�vi�es 8
**106,044**
Grants, dona�ons 7
**-**
**Total**
**125,609**
Net gains on investments
**74,428**
**NET INCOME/(EXPENDITURE)**
**59,015**
**Transfers between funds**
18
**(1,160)**
**Net movement in funds**
**57,855**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**287,972**
**TOTAL FUNDS CARRIED**
**FORWARD**
**345,827**|Restricted
Endowment
funds
funds
£
£
**3,392**
**375**
**-**
**-**
**-**
**-**
**1,120**
**5,120**
**4,512**
**5,495**
**183**
**2,003**
**640**
**-**
**10,612**
**-**
**11,435**
**2,003**
**482**
**11,554**
**(6,441)**
**15,046**
**1,160**
**-**
**(5,281)**
**15,046**
**25,948**
**212,444**
**20,667**
**227,490**|**2025**
**Total**
**funds**
**£**
**63,014**
**6,313**
**21,998**
**28,878**
**120,203**
**21,751**
**106,684**
**10,612**
**139,047**
**86,464**
**67,620**
**-**
**67,620**
**526,364**
**593,984**|2024
Total
funds
£
74,825
-
16,051
27,205
118,081
13,030
72,310
13,553
98,893
21,868
41,056
-
41,056
485,308
526,364| |---|---|---|---| -7- ## **THE COMPANY OF MERCHANT TAYLORS** ## **BALANCE SHEET 30 JUNE 2025** |Notes
**FIXED ASSETS**
Tangible assets
13
Investments
14
**CURRENT ASSETS**
Stocks
15
Debtors
16
Cash at bank
**CREDITORS**
Amounts falling due within one
year
17
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
18
Unrestricted funds
Restricted funds
Endowment funds
**TOTAL FUNDS**|Unrestricted
funds

£
**15,084**
**182,696**
**197,780**
**646**
**66,586**
**95,675**
**162,907**
**(14,860)**
**148,047**
**345,827**
**345,827**|Restricted
funds
£
**-**
**15,592**
**15,592**
**-**
**1,773**
**5,500**
**7,273**
**(2,198)**
**5,075**
**20,667**
**20,667**|Endowment
funds
£
**-**
**221,964**
**221,964**
**-**
**225**
**5,301**
**5,526**
**-**
**5,526**
**227,490**
**227,490**|**2025**
**Total**
**funds**
**£**
**15,084**
**420,252**
**435,336**
**646**
**68,584**
**106,476**
**175,706**
**(17,058)**
**158,648**
**593,984**
**593,984**
**345,827**
**20,667**
**227,490**
**593,984**|2024
Total
funds
£
16,469
330,314
346,783
963
71,411
131,084
203,458
(23,877)
179,581
526,364| |---|---|---|---|---|---| ||||||526,364| ||||||287,972
25,948
212,444| ||||||526,364| its behalf by: S Parker - Master -8- **THE COMPANY OF MERCHANT TAYLORS** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025** ## **1. ACCOUNTING POLICIES** ## and have not been consolidated with its trading subsidiary. The Company of Merchant Taylors has a controlling interest in The Merchant Taylors Service Company, its trading subsidiary (see note 11). ## **Going concern** uncertain�es exist. The trustee has considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to con�nue as a going concern. ## **Income** All incoming resources are included in the Statement of Financial Ac�vi�es when the charity becomes en�tled to the income and the amount can be quan�fied with reasonable accuracy. The following specific policies are applied to par�cular categories of income: Voluntary income is received by way of dona�ons and legacies and is included in full in the Statement of Financial Ac�vi�es when receivable. The value of services provided by volunteers has not been included in these accounts. Investment income is included when receivable. Incoming resources from car parking and other ac�vi�es are accounted for when the right to considera�on accrues. ## **Expenditure** Expenditure is recognised on an accruals basis as a liability is incurred: Guild ac�vi�es comprises those costs incurred by the charity in the delivery of its ac�vi�es and services. It includes both costs that can be allocated directly to such ac�vi�es and those costs of an indirect nature necessary to support them. Governance costs include those costs associated with mee�ng the cons�tu�onal and statutory requirements of the charity and include the accounts fees and costs linked to the strategic management of the charity. Costs of genera�ng voluntary income comprise the costs associated with the voluntary income. Costs rela�ng to a par�cular ac�vity are allocated directly; others are appor�oned on an appropriate basis or on an es�mated basis. The Company is not registered for VAT and accordingly expenditure is shown gross of irrecoverable VAT. but not accrued as expenditure. con�nued... -9- **THE COMPANY OF MERCHANT TAYLORS** **NOTES TO THE FINANCIAL STATEMENTS - con�nued FOR THE YEAR ENDED 30 JUNE 2025** ## **1. ACCOUNTING POLICIES - con�nued** ## life. - 5% / 10% / 20% / 33.33% Straight Line ## **Stocks** Stocks are valued at the lower of cost and net realisable value, a�er making due allowance for obsolete and slow moving items. ## **Taxa�on** The charity is exempt from tax on its charitable ac�vi�es. ## **Fund accoun�ng** Unrestricted funds comprise those funds which the trustee is free to use in accordance with the charitable objects. Designated Funds are unrestricted funds earmarked by the trustee for par�cular purposes. Endowment funds - these are funds held on trust as a capital fund. ## **Heritage assets** at Aldwark, York. Neither the historical cost nor improvements to freehold land and buildings are capitalised because these heritage assets are historic, inalienable and form part of the assets of the company held in perpetuity. The company also owns artefacts relevant to its customs and tradi�ons for which no original cost or market value is recorded. The original cost of the assets and improvements thereto is not available. The users of the accounts are principally the members of the Company. The trustee considers the cost of carrying out a professional valua�on to include these assets at a value in the accounts to be considerable compared to the limited addi�onal benefit derived by the users of the accounts. ## scheme are charged to the Statement of Financial Ac�vi�es in the period to which they relate. ## **Investments** Quoted investments are included at market value at the balance sheet date. The gain or loss in the market value of investments, both realised and unrealised, during the year is shown in the charity's SOFA. As described in the Trustee’s report, the charity has adopted a total returns approach to its endowment investments. Unquoted investments are included at cost. ## **Investment Property** Investment property is carried at fair value. Revalua�on surpluses are recognised in the SOFA. con�nued... -10- **THE COMPANY OF MERCHANT TAYLORS** ## **NOTES TO THE FINANCIAL STATEMENTS - con�nued FOR THE YEAR ENDED 30 JUNE 2025** ## **2. DONATIONS AND LEGACIES** |**DONATIONS AND LEGACIES**||| |---|---|---| |Unrestricted
Restricted
Endowment
funds
funds
funds
£
£
£
Annual subscrip�ons
**44,146**
**-**
**-**
Legacy & dona�ons to
Charity
**3,050**
**3,173**
**300**
Tax recoverable on subs
**11,513**
**-**
**-**
Tax recoverable on
dona�ons
**538**
**219**
**75**
**59,247**
**3,392**
**375**
**OTHER TRADING ACTIVITIES**
Unrestricted
Restricted
Endowment
funds
funds
funds
£
£
£
Car parking
**9,998**
**-**
**-**
Sale of commemora�ve
items
**-**
**-**
**-**
Cost recharges to Trading
Subsidiary
**12,000**
**-**
**-**
**21,998**
**-**
**-**|**2025**
**Total**
**funds**
**£**
**44,146**
**6,523**
**11,513**
**832**|2024
Total
funds
£
46,609
14,971
11,427
1,818| ||**63,014**
**2025**
**Total**
**funds**
**£**
**9,998**
**-**
**12,000**
**21,998**|74,825| |||2024
Total
funds
£
10,026
25
6,000| |||16,051| ## **3. OTHER TRADING ACTIVITIES** The trading ac�vi�es of the Charity are carried out by the Merchant Taylors Service Company Limited which donates its surplus profits to the Charity each year. ## **4. INVESTMENT INCOME** |**INVESTMENT INCOME**|**INVESTMENT INCOME**|**INVESTMENT INCOME**|**INVESTMENT INCOME**||| |---|---|---|---|---|---| |Unrestricted
Restricted
Endowment
funds
funds
funds
£
£
£
Rents received
**12,881**
**-**
**-**
Deposit account interest
**1,794**
**876**
**-**
Brewin Dolphin income
**575**
**244**
**5,120**
Service Co. loan interest
**7,388**
**-**
**-**
**22,638**
**1,120**
**5,120**||||**2025**
**Total**
**funds**
**£**
**12,881**
**2,670**
**5,939**
**7,388**|2024
Total
funds
£
10,163
2,701
6,456
7,885| ||**22,638**|**1,120**|**5,120**|**28,878**|27,205| con�nued... -11- **THE COMPANY OF MERCHANT TAYLORS** **NOTES TO THE FINANCIAL STATEMENTS - con�nued FOR THE YEAR ENDED 30 JUNE 2025** ## **5. INCOME FROM CHARITABLE ACTIVITIES** |||**2025**|2024|| |---|---|---|---|---| ||Ac�vity|**£**|£|| |Event income|Guild Ac�vi�es|**6,313**||-| Guild ac�vi�es income relates to fund raising events income. The associated costs of pu�ng on the events are included in event costs as detailed in note 6. The net contribu�on to charitable reserves in the year totalled £1,160, all of which has been transferred to the restricted charitable fund. ## **6. RAISING FUNDS** ## **Raising dona�ons and legacies** |Unrestricted
Restricted
Endowment
funds
funds
funds
£
£
£
Clerk
**12,627**
**-**
**-**
Staf costs
**1,056**
**-**
**-**
Event costs
**5,603**
**-**
**-**
**19,286**
**-**
**-**|**2025**
**Total**
**funds**
**£**
**12,627**
**1,056**
**5,603**
**19,286**|2024
Total
funds
£
10,178
1,076
-| |---|---|---| |||11,254| ## **Investment management costs** |**Investment management costs**|**Investment management costs**|**Investment management costs**|**Investment management costs**|**Investment management costs**||| |---|---|---|---|---|---|---| |Unrestricted
Restricted
Endowment
funds
funds
funds
£
£
£
Support costs (note 9)
**279**
**183**
**2,003**
Aggregate amounts
**19,565**
**183**
**2,003**|||||**2025**
**Total**
**funds**
**£**
**2,465**|2024
Total
funds
£
1,776| |||**183**||**2,003**|**21,751**|13,030| con�nued... -12- **THE COMPANY OF MERCHANT TAYLORS** **NOTES TO THE FINANCIAL STATEMENTS - con�nued FOR THE YEAR ENDED 30 JUNE 2025** ## **7. GRANTS AND DONATIONS** During the year total grants and dona�ons of £1,050 (2024: £4,806) and £9,562 (2024: £8,747) were made to individuals and ins�tu�ons, respec�vely. These dona�ons were made from the restricted charitable fund (note 18). ## **8. DIRECT COSTS OF CHARITABLE ACTIVITIES** |**DIRECT COSTS OF CHARITABLE ACTIVITIES**|| |---|---| |**2025**
**£**
Clerk
**21,809**
Steward
**27,271**
Chancellor's ofce
**994**
Insurances, licences
**14,545**
Repairs, equipment, furnishing
**24,571**
Telephone
**220**
Prin�ng, post, sta�onery
**53**
Travelling and accommoda�on
**1,278**
Clerk expenses
**1,229**
Deprecia�on
**3,371**
Support costs (note 9)
**11,343**
**106,684**|2024
£
17,369
20,384
1,076
12,646
7,332
303
83
919
115
2,937
9,146| ||72,310| ## **9. SUPPORT COSTS** |Investment management costs
Guild Ac�vi�es|Governance
Finance
costs
£
£
**-**
**2,465**
**810**
**10,533**
**810**
**12,998**|Totals
£
**2,465**
**11,343**| |---|---|---| |||**13,808**| Support costs, included in the above, are as follows: ||||**2025**|2024| |---|---|---|---|---| ||Investment|||| ||management|Guild|Total|Total| ||costs|Ac�vi�es|ac�vi�es|ac�vi�es| ||£|£|**£**|£| |Bank charges|**-**|**810**|**810**|405| |Independent examina�on|**-**|**860**|**860**|800| |Insurance|**-**|**788**|**788**|788| |Guild events and court costs|**-**|**737**|**737**|1,016| |Clerk|**-**|**3,827**|**3,827**|2,908| |Chancellor's ofce|**-**|**3,229**|**3,229**|3,229| |Legal and Professional fees|**2,465**|**1,092**|**3,557**|1,776| ||**2,465**|**11,343**|**13,808**|10,922| con�nued... -13- **THE COMPANY OF MERCHANT TAYLORS** **NOTES TO THE FINANCIAL STATEMENTS - con�nued FOR THE YEAR ENDED 30 JUNE 2025** ## **10. TRUSTEE’S REMUNERATION AND BENEFITS** In accordance with normal commercial prac�ce the charity has purchased insurance to protect the trustee from claims arising from negligent acts, errors or omissions occurring whilst on the charity's business. The annual premium is £788 (2024: £788). ## **Trustee’s expenses** No expenses were paid to the trustee nor to the members of the Court of Assistants for the year ended 30 June 2025 nor for the period ended 30 June 2024. ## **11. STAFF COSTS** The average monthly number of employees during the year was as follows: ||**2025**|2024| |---|---|---| |Management and support|**2**|2| No employees received emoluments in excess of £60,000. |**12.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Dona�ons and legacies
66,837
Other trading ac�vi�es
16,051
Investment income
20,284
**Total**
103,172
**EXPENDITURE ON**
Raising funds
11,449
**Charitable ac�vi�es**
Guild Ac�vi�es
72,310
Grants, dona�ons
-
**Total**
83,759
Net gains on investments
2,706
**NET INCOME/(EXPENDITURE)**
22,119
**Transfers between funds**
(2,400)
**Net movement in funds**
19,719|Restricted
Endowment
funds
funds
£
£
7,613
375
-
-
1,737
5,184
9,350
5,559
254
1,327
-
-
13,553
-
13,807
1,327
2,727
16,435
(1,730)
20,667
-
2,400
(1,730)
23,067|Total
funds
£
74,825
16,051
27,205
118,081
13,030
72,310
13,553
98,893
21,868
41,056
-
41,056| |---|---|---| con�nued... -14- **THE COMPANY OF MERCHANT TAYLORS** ## **NOTES TO THE FINANCIAL STATEMENTS - con�nued FOR THE YEAR ENDED 30 JUNE 2025** ## **12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - con�nued** |Unrestricted
funds
£
**RECONCILIATION OF FUNDS**
Total funds brought forward
268,253
**TOTAL FUNDS CARRIED FORWARD**
287,972
**13.**
**TANGIBLE FIXED ASSETS**|Restricted
Endowment
funds
funds
£
£
27,678
189,377
25,948
212,444|Total
funds
£
485,308| |---|---|---| |||526,364| |||| |**COST**
At 1 July 2024
Addi�ons
At 30 June 2025
**DEPRECIATION**
At 1 July 2024
Charge for year
At 30 June 2025
**NET BOOK VALUE**
At 30 June 2025
At 30 June 2024|Fixtures
and
f�ngs
£
**122,371**
**1,986**
**124,357**
**105,902**
**3,371**
**109,273**
**15,084**
16,469| |---|---| Freehold property, other historic assets and artefacts of the company are not capitalised as disclosed in note 1. Improvements not capitalised during the year amounted to £nil (2024 - £nil). con�nued... -15- **THE COMPANY OF MERCHANT TAYLORS** **NOTES TO THE FINANCIAL STATEMENTS - con�nued FOR THE YEAR ENDED 30 JUNE 2025** ## **14. FIXED ASSET INVESTMENTS** |Value at 1 July 2024
Addi�ons
Transfers
Net investment income
Realised Gains / losses
Unrealised Gains / losses
Value at 30 June 2025
Investments at market
value comprised:
Freehold investment
property
100% trading subsidiary
Listed Investments
Cash on deposit|Unrestricted
Funds
107,973
-
-
295
181
74,247
182,696
150,560
100
30,114
1,922
182,696|Restricted
Funds
15,049
-
-
61
-
482
15,592
-
-
15,247
345
15,592|Endowment
Funds
207,292
-
-
3,118
442
11,112
221,964
-
-
206,331
15,633
221,964|**Total**
**Funds**
**2025**
**330,314**
**-**
**-**
**3,474**
**623**
**85,841**
**420,252**
**150,560**
**100**
**251,692**
**17,900**
**420,252**|2024
303,766
-
-
4,680
-
21,868
330,314
80,560
100
244,563
5,091
330,314| |---|---|---|---|---|---| i) The charity owns the whole of the issued share capital of The Merchant Taylors Service Company Limited, registered in England & Wales, company number 2844764. The shares are valued at par. £44,741 (2024: gross profit of £29,153) and a profit before tax and gi� aid of £1,746 in the year ended 30 June 2025 (2024: loss of £1,735). At 30 June 2025 the company had nega�ve reserves of £54,022 (2024: £55,768). ii) Freehold investment property was valued in September 2025 by J Stephenson MA FRICS FAAV at £150,000. A valua�on gain of £70,000 has been recognised in the year. Other freehold interests were valued at £560. iii) Listed investments are managed by Brewin Dolphin. ## **15. STOCKS** |**STOCKS**||| |---|---|---| ||**2025**|2024| ||**£**|£| |Valua�on|**646**|963| con�nued... -16- **THE COMPANY OF MERCHANT TAYLORS** ## **NOTES TO THE FINANCIAL STATEMENTS - con�nued FOR THE YEAR ENDED 30 JUNE 2025** |**16.**
**DEBTORS**
Amounts falling due within one year:
Trade debtors
Other debtors
Amounts due from trading
subsidiary
Prepayments and accrued income
Other debtors
Amounts falling due a�er more than one year:
Amounts due from trading
subsidiary
Aggregate amounts
**17.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors|**2025**
**£**
**580**
**2,197**
**-**
**36,657**
**744**
**40,178**
**28,406**
**68,584**
**2025**
**£**
**17,058**
**17,058**|2024
£
4,106
-
37,891
24,572
4,842| |---|---|---| |||71,411| |||-| |||71,411| |||2024
£
23,877| |||23,877| con�nued... -17- **THE COMPANY OF MERCHANT TAYLORS** ## **NOTES TO THE FINANCIAL STATEMENTS - con�nued FOR THE YEAR ENDED 30 JUNE 2025** ## **18. MOVEMENT IN FUNDS** |**Unrestricted funds**
General fund
Designated Pla�num fund
**Restricted funds**
Charitable fund
Fabric fund
Roof Fund
**Endowment funds**
Charitable fund
Pla�num endowment fund
**TOTAL FUNDS**|At 1/7/24
£
**277,070**
**10,902**
**287,972**
**18,558**
**1,140**
**6,250**
**25,948**
**190,023**
**22,421**
**212,444**
**526,364**|Net
movement
in funds
£
**69,659**
**(10,644)**
**59,015**
**(5,801)**
**(640)**
**-**
**(6,441)**
**12,765**
**2,281**
**15,046**
**67,620**|Transfers
between
funds
£
**(1,160)**
**-**
**(1,160)**
**(1,340)**
**2,000**
**500**
**1,160**
**-**
**-**
**-**
**-**|At
30/6/25
£
**345,569**
**258**
**345,827**
**11,417**
**2,500**
**6,750**
**20,667**
**202,788**
**24,702**
**227,490**
**593,984**| |---|---|---|---|---| Net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
Designated Pla�num fund
**Restricted funds**
Charitable fund
Fabric fund
**Endowment funds**
Charitable fund
Pla�num endowment fund
**TOTAL FUNDS**|Incoming
resources
£
**110,196**
**-**
**110,196**
**4,512**
**-**
**4,512**
**5,022**
**473**
**5,495**
**120,203**|Resources
expended
£
**(114,965)**
**(10,644)**
**(125,609)**
**(10,795)**
**(640)**
**(11,435)**
**(1,843)**
**(160)**
**(2,003)**
**(139,047)**|Gains and
Movement
losses
in funds
£
£
**74,428**
**69,659**
**-**
**(10,644)**
**74,428**
**59,015**
**482**
**(5,801)**
**-**
**(640)**
**482**
**(6,441)**
**9,586**
**12,765**
**1,968**
**2,281**
**11,554**
**15,046**
**86,464**
**67,620**| |---|---|---|---| con�nued... -18- **THE COMPANY OF MERCHANT TAYLORS** **NOTES TO THE FINANCIAL STATEMENTS - con�nued FOR THE YEAR ENDED 30 JUNE 2025** ## **19. MOVEMENT IN FUNDS - con�nued** ## **Compara�ves for movement in funds** |**Unrestricted funds**
General fund
Designated Pla�num fund
**Restricted funds**
Charitable fund
Fabric fund
Roof Fund
**Endowment funds**
Charitable fund
Pla�num endowment fund
**TOTAL FUNDS**|At 1/7/23
£
253,893
14,360
268,253
26,538
1,140
-|Net
movement
in funds
£
22,119
-
22,119
(7,980)
-
6,250|Transfers
between
funds
£
1,058
(3,458)
(2,400)
-
-
-|At
30/6/24
£
277,070
10,902| |---|---|---|---|---| |||||287,972
18,558
1,140
6,250| ||27,678
169,377
20,000
189,377
485,308|(1,730)
20,646
21
20,667
41,056|-
-
2,400
2,400
-|25,948
190,023
22,421| |||||212,444| |||||526,364| Compara�ve net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Charitable fund
Roof Fund
**Endowment funds**
Charitable fund
Pla�num endowment fund
**TOTAL FUNDS**|Incoming
resources
£
103,172
3,100
6,250
9,350
5,559
-|Resources
expended
£
(83,759)
(13,807)
-
(13,807)
(1,327)
-|Gains and
Movement
losses
in funds
£
£
2,706
22,119
2,727
(7,980)
-
6,250
2,727
(1,730)
16,414
20,646
21
21
16,435
20,667
21,868
41,056| |---|---|---|---| ||5,559
118,081|(1,327)
(98,893)|16,435
21,868| - 19 - **COMPANY OF MERCHANT TAYLORS** **NOTES TO THE FINANCIAL STATEMENTS - con�nued FOR THE YEAR ENDED 30 JUNE 2025** ## **19. MOVEMENT IN FUNDS - con�nued** ## **Restricted charitable fund** Dona�ons and income received for the restricted charitable fund are to fund grants to individuals and ins�tu�ons to provide financial support to advance and develop skills in the fields of art, cra�smanship and music. During the year £2,500 was transferred from the restricted charitable fund to the restricted fabric fund to correct a misalloca�on in prior years accounts. As at 30 June 2025 these funds remained unspent. ## **Restricted fabric fund** Dona�ons and income received for the restricted fabric fund are funds that are to be used to maintain the hall and grounds. During the year £500 was transferred from the restricted fabric fund to the restricted roof fund as this was deemed to be a be�er representa�on of the restric�on that the funds were provided for in previous years. ## **Restricted roof fund** Dona�ons and income received for the restricted roof fund are funds that are to be used to recover the roof of the hall when required. ## **Endowment charitable fund** These funds are held on trust as a capital fund. The income generated from the endowment fund is available for distribu�on within the objects of the restricted charitable fund. ## **Pla�num endowment fund** These funds are held on trust as a capital fund. The income generated from this endowment fund is available to cover costs of maintaining and improving the hall and its facili�es. ## **Designated pla�num fund** The company raised funds to carry out priority works in the Hall and grounds. - 20 - **THE COMPANY OF MERCHANT TAYLORS** **NOTES TO THE FINANCIAL STATEMENTS - con�nued FOR THE YEAR ENDED 30 JUNE 2025** ## **19. MOVEMENT IN FUNDS - con�nued** ## **Endowment funds invested on a total return basis** Endowment funds adopt a total return basis from 1 July 2021. The summaries below shows the breakdown of these funds between the trust for investments (which is the amount of gi�s donated or allocated by the charity into the endowment fund) and unapplied total return (which is the cumula�ve investment return allocated to the endowment fund). |**Endowment charitable fund**
**At beginning of the repor�ng period:**
Gi� component of the endowment
Unapplied total return
**Total**
**Movements in the repor�ng period:**
Gi� of endowment funds
Recoupment of trust for investment
Alloca�on from trust for investment
Investment return: net dividends and interest
Investment return: realised and unrealised gains and
(losses)
**Total**
Unapplied total return allocated to income in the repor�ng
period
**Net movements in repor�ng period**
**At end of repor�ng period:**
Gi� component of the endowment
Unapplied total return
**Total**|**Trust for**
**investment**
**£**
**121,206**
**-**
**121,206**
**375**
**-**
**-**
**-**
**-**
**375**
**-**
**375**
**121,581**
**-**
**121,581**|**Unapplied**
**total**
**return**
**£**
**-**
**68,817**
**68,817**
**-**
**-**
**-**
**2,804**
**9,586**
**12,390**
**-**
**12,390**
**-**
**81,207**
**81,207**|**Total**
**Endowment**
**charitable**
**fund**
**£**
**121,206**
**68,817**| |---|---|---|---| ||||**190,023**| ||||**375**
**-**
**-**
**2,804**
**9,586**| ||||**12,765**
**-**| ||||**12,765**| ||||**121,581**
**81,207**| ||||**202,788**| con�nued... -21- **THE COMPANY OF MERCHANT TAYLORS** ## **NOTES TO THE FINANCIAL STATEMENTS - con�nued FOR THE YEAR ENDED 30 JUNE 2025** ## **19. MOVEMENT IN FUNDS - con�nued** |**Pla�num endowment fund**
**At beginning of the repor�ng period:**
Gi� component of the endowment
Unapplied total return
**Total**
**Movements in the repor�ng period:**
Gi� of endowment funds
Recoupment of trust for investment
Alloca�on from trust for investment
Investment return: net dividends and interest
Investment return: realised and unrealised gains and
(losses)
**Total**
**At end of repor�ng period:**
Gi� component of the endowment
Unapplied total return
**Total**|**Trust for**
**investment**
**£**
**20,000**
**-**|**Unapplied**
**total**
**return**
**£**
**-**
**2,421**|**Total**
**Pla�num**
**Endowment**
**fund**
**£**
**20,000**
**2,421**| |---|---|---|---| ||**20,000**
**-**
**-**
**-**
**-**
**-**
**-**
**20,000**
**-**
**20,000**|**2,421**
**-**
**-**
**-**
**313**
**1,968**
**2,281**
**-**
**4,702**
**4,702**|**22,421**| ||||-
**-**
**-**
**313**
**1,968**| ||||**2,281**| ||||**20,000**
**4,702**| ||||**24,702**| ## **20. RELATED PARTY DISCLOSURES** The balance due to the Charity from its trading subsidiary, at the year end, was £28,406 (2024: £37,891). There were no other related party transac�ons for the year ended 30 June 2025. - 22 -