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2020-09-30-accounts

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS CHARITABLE FUND

Registered Charity No: 235467

Annual Report and Financial Statements for the year ended 30 September 2020

C O N T E N T S Pages
GENERAL INFORMATION 1
STATEMENT OF TRUSTEES’ RESPONSIBILITIES 2
TRUSTEES’ REPORT 3-6
INDEPENDENT AUDITORS’ REPORT 7-9
STATEMENT OF FINANCIAL ACTIVITIES 10
BALANCE SHEET 11
NOTES TO THE ACCOUNTS 12-15
APPENDICES
-
SUMMARY OF GRANTS AND DONATIONS		 A
-
SUMMARY OF QUOTED INVESTMENTS		 B

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS CHARITABLE FUND

GENERAL INFORMATION

Principal Office: 4 College Hill
London
EC4R 2RB
Auditors: Hazlewoods LLP
Registered Auditors
Windsor House
Bayshill Road
Cheltenham
GL50 3AT
Bankers: CAF Bank Ltd
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4TA
Investment Managers: Quilter Cheviot
One Kingsway
London
WC2B 6AN
Trustees: Martin Stewart Earle
Leo James Martin
Philippa Anne Joan (Pippa) Latham
Stewart William Pierce
Bursar: Alan K Hawkins B.Sc (Econ)., FCA
Almoner: John C. Poore, BEM

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS CHARITABLE FUND

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Charities Act 2011 requires the Trustees of the Charity to prepare financial statements for each financial year which give a true and fair view of the Charity’s financial activities during the year and of its financial position at the end of the year.

In preparing the financial statements the Trustees should follow best practice and:

The Trustees are responsible for keeping accounting records which are such as to disclose, with reasonable accuracy, the financial position of the Charity at any time, and to enable them as trustees to ensure that the financial statements comply with charity law. The Trustees are also responsible for safeguarding the Charity’s assets, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In addition, at the date of approval of the financial statements, in so far as the Trustees are aware, all relevant audit information has been provided to the auditors and the Trustees have taken steps to ensure that they have made themselves aware of any relevant audit information and to establish that the auditors are aware of such information.

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS CHARITABLE FUND

TRUSTEES’ REPORT for the year ended 30 September 2020

The Trustees present their report and the accounts for the year ended 30 September 2020.

Worshipful Company of Builders’ Merchants Charitable Fund (‘the Charity’) is a Registered Charity: Number 235467.

1 CONSTITUTION AND PRINCIPAL AIMS AND OBJECTIVES

The Charity is constituted by Trust Deeds dated 14 May 1964 and 2 December 1980 to provide for the charitable objectives of the Worshipful Company of Builders’ Merchants (WCoBM).

WCoBM’s objectives include the creation and accumulation of funds for the benefit of members of the Company and the application of the same for the purposes of advancement of the interests of the Company and its members, the relief of existing members, retired members suffering hardship and the wives, widows, children and others depending on them and for education and training in matters relating to the building industry and scholarships, prizes and research in connection therewith, including the establishment and maintenance of schools and colleges and for any other charitable objects.

To have an open heart and an attentive ear to the pressing need of all those engaged in the business of a Builders’ Merchant and to give such assistance and to dispense such other charity as may be considered deserved and possible.

2 GOVERNANCE

The Trustees conduct the Charity in accordance with the Declaration of Trust dated 14 May 1964 and the Variation of Trust approved by the Charity Commission on 2 December 1980 (Trust Deed).

The Trust Deed provides for 4 Trustees, 3 of whom are appointed by the Court of Assistants of the Worshipful Company of Builders’ Merchants (WCoBM). The fourth, ex officio, Trustee is the Master for the time being of WCoBM.

The Trustees for the year ended 30 September 2020 were:

Martin Stewart Earle Leo James Martin Kenneth Brian Pepperrell Dame Catherine Fiona Woolf DBE DL (ex officio, from 25 October 2019) Philippa Anne Joan (Pippa) Latham (ex officio, to 25 October 2019)

Apart from the Master, who holds office for a year, Trustees are appointed for a term of three years on a rotating basis, one being appointed by the Court of Assistants of WCoBM at each January Court meeting. A Trustee may be reappointed for further terms of three years. New Trustees are selected from professionally and suitably experienced members of WCoBM, who may be but need not be members of the Court and who are willing to serve as Trustee.

The Trustees are supported in their work by the Charities Committee of WCoBM, which is chaired by the Almoner, John Poore. For the year ended 30 September 2020, the members of the Charities Committee were John Poore (Chairman), the Trustees, Alan Hawkins (Bursar), Brian Blanchard, Pippa Latham, Howard Grant, Lucia Di Stazio, Shanker Patel, Mark Mulvey and Charles Ledigo.

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS CHARITABLE FUND

TRUSTEES’ REPORT for the year ended 30 September 2020

The Trustees of the Charity receive advice on the investment of funds from Quilter Cheviot, Investment Managers, while the Charities Committee makes recommendations to the Trustees on matters concerning charitable donations. The major risks of the Charity are also reviewed in order to ensure the systems and controls that are in place are sufficient to manage those risks appropriately.

The current Trustees are members of the Court of Assistants of WCoBM. All individuals selected for appointment as Trustees are considered qualified through their business standing, professional qualifications and/or charitable experience. Trustees receive regular updates from the Charity Commission on their role and take up appropriate training opportunities. As a body, Trustees seek external advice when appropriate on legal, financial and other matters. All Trustees are expected to attend Charities Committee meetings, as well as Trustee meetings.

The Trustees recognise their legal obligation to act in the best interests of the Charity and to avoid situations where there may be a potential conflict of interest. Accordingly, the Charity maintains a Register of Interests, and all Trustees complete, and regularly update, a Declaration of Interests form.

The Trustees confirm that they have had due regard to the Charity Commission's public benefit guidance when exercising any powers or duties to which the guidance is relevant.

The Bursar of the Worshipful Company of Builders’ Merchants, Alan Hawkins, prepares the accounts for audit. Administrative support is provided by the Clerk to the Company, Virginia Rounding.

3 INVESTMENT POLICY

Prudent investment of the Fund aims to produce a growing income which can be applied to WCoBM’s charitable objectives itemised earlier.

4 ACTIVITY REPORT

Donations to the Fund in the year totalled £36,607 (2019: £48,042), made up of gifts and donations under Gift Aid from members of WCoBM. Charitable grants amounting to £88,954 (2019: £78,760) are detailed in Appendix A.

5 ANNUAL ACCOUNTS

The accounts are presented to include a Statement of Financial Activities to comply with the Charity Commissioners’ Statement of Recommended Practice. This combines the investment income and donations received from members as incoming resources and also shows unrealised investment gains or losses, as investments have to be valued at market value.

Donations received are accumulated for future income generation as well as for donating to worthy causes if felt appropriate by the Trustees, whilst investment income (£44,161 – note 3 on page 13) is available for appropriate charitable donations on a cumulative basis.

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS CHARITABLE FUND

TRUSTEES’ REPORT for the year ended 30 September 2020

The investment portfolio has realised a gain of £13,766 (2019: £45,247) on investments sold in the year whilst also reporting unrealised losses of £285,831 (2019: unrealised gains of £49,559). Overall the performance of the portfolio in the year ended 30 September 2020 was considered to have been in line with the market average.

The Statement of Financial Activities (page 10) shows the fund balance of £2,295,884 (2019: £2,592,078) as at 30 September 2020.

6 POLICY ON RESERVES AND INVESTMENTS

The Charity invests its reserves into quoted stocks, equities, unit trusts and bonds in order to maintain a consistent annual return in the form of dividends, similar income and capital gains. This income is primarily used in the fulfilment of the Charity’s objects.

The role of Quilter Cheviot is that of Discretionary management of the Charity’s investment portfolio.

7 GOING CONCERN AND THE IMPACT OF COVID-19

After reviewing the charity’s financial position and considering the expected future cash flows, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The charity has few ongoing fixed overheads and charitable giving in any particular year is determined based on the resources available. The charity’s balance sheet is made up of a significant level of investments, the value of which is likely to be affected by the current Covid-19 pandemic. Any negative impact on the value of investments is expected to be short-term and not substantial enough to deplete the charities reserves to prevent its ongoing activities. The Trustees continue to take professional advice to manage the portfolio.

The charity’s reserves are substantial and, based on the expenditure level of recent financial years, capable of supporting the charities activities for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its accounts.

7 PLANS FOR THE FUTURE

The Trustees intend to continue with the present investment policy with a view to being able to continue to meet the charitable objectives as defined in the Charity’s Trust Deed.

In all their charitable activity, the Trustees and Charities Committee endeavour to support charities, worthy causes and individuals where a donation from the Worshipful Company of Builders’ Merchants Charitable Fund will make a significant difference and enable positive change.

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS CHARITABLE FUND

TRUSTEES’ REPORT for the year ended 30 September 2020

8 AUDITORS

Hazlewoods LLP have expressed their willingness to continue in office.

9 STATEMENT OF DISCLOSURE TO AUDITORS

So far as the Trustees are aware, there is no relevant information of which the Charity’s auditors are unaware and each Trustee has taken steps that they ought to have taken as Trustees in order to make themselves aware of any relevant audit information and to establish that the Charity’s Auditors are aware of such information.

Dame C F Woolf DBE DL M S Earle A K Hawkins Ex Officio TRUSTEE TRUSTEE BURSAR

………………………………………………….2021

Principal Office: 4 College Hill, London EC4R 2RB

INDEPENDENT AUDITORS’ REPORT

TO THE TRUSTEES OF WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS

CHARITABLE FUND

We have audited the financial statements of the Worshipful Company of Builders’ Merchants Charitable Fund for the year ended 30 September 2020 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, The Financial Reporting Standard applicable in the UK (United Kingdom Generally Accepted Accounting Practice).

Opinion on the financial statements

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other information

The other information comprises the information included in the annual report, other than the financial statement and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

INDEPENDENT AUDITORS’ REPORT

TO THE TRUSTEES OF WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS

CHARITABLE FUND

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

INDEPENDENT AUDITORS’ REPORT

TO THE TRUSTEES OF WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS

CHARITABLE FUND

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of this report

This report is made solely to the Charity’s Trustees, as a body, in accordance with the Charities Act 2011. Our audit work has been undertaken so that we might state to the Charity’s Trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charity’s Trustees, as a body, for our audit work, for this report, or for the opinions we have formed.

………………….……………………….. Ryan Hancock (Senior Statutory Auditor)

……………………….….2021

For and on behalf of Hazlewoods LLP, Statutory Auditor

Windsor House Bayshill Road Cheltenham GL50 3AT

Hazlewoods LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS CHARITABLE FUND

STATEMENT OF FINANCIAL ACTIVITIES For the year ended 30 September 2020

Note
Incoming resources
Income from
Donations
2
Exceptional donation
2
Investments
3
Total income
Resources expended
Expenditure on:
Raising funds
Investment management
costs
Bank charges
Charitable activities
Grants and donations
4
Other costs
Management and
administration of the
Charity
5
Total expenditure
Net income and net
movement in funds before
gains and losses on
investments
Net gains/(losses) on
investments
Realised
6
Unrealised
Net movement in funds
Total fund brought forward
Total fund carried forward		 Unrestricted
2020
£
36,607
-
44,161
80,768
11,133
60
46,450
3,750
61,393
19,375
12,422
(152,019)
(139,597)
(120,222)
1,910,634
1,790,412		 Restricted
2020
£
-
-
-
-
-
-
42,504
1,000
43,504
(43,504)
1,344
(133,812)
(132,468)
(175,972)
681,444
505,472		 Total
2020
£
36,607
44,161
80,768
11,133
60
88,954
4,750
104,897
(24,129)
13,766
(285,831)
(272,065)
(296,194)
2,592,078
2,295,884		 Total
2019
£
48,042
-
52,642
100,684
10,822
60
78,760
13,750
103,392
(2,708)
45,247
49,559
94,806
92,098
2,499,980
2,592,078

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS CHARITABLE FUND

BALANCE SHEET 30 September 2020

Fixed assets
Note
Investments
6
Current assets
Bank and brokers deposit accounts
Liabilities
Due within one year
Sundry creditors
Loan from Corporate Fund
Net current assets / (liabilities)
Net assets
The funds of the charity
Unrestricted
7
Restricted
7		 2020
£
2,316,072
44,918
10,418
54,688
65,106
(20,188)
2,295,884
1,790,412
505,472
2,295,884		 2019
£
2,586,274
86,275
25,783
54,688
80,471
5,804
2,592,078
1,910,634
681,444
2,592,078

Approved by the Trustees and signed on their behalf on ………………..2021.

Dame C F Woolf DBE DL M S Earle A K Hawkins TRUSTEE TRUSTEE BURSAR

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS CHARITABLE FUND

NOTES TO THE ACCOUNTS for the year ended 30 September 2020

1 ACCOUNTING POLICIES

The accounts have been prepared under the historical cost convention adopting the following principal accounting policies, all of which are in accordance with Accounting by Charities - Statement of Recommended Practice (SORP) and applicable Accounting Standards.

Incoming Resources

Income and expenditure have been accounted for on an accruals basis.

Dividends received from UK investments are included at the net amount received.

Income received from overseas investments are credited net of withholding taxes.

Cash flow statement

The Charity has not presented a cash flow statement as the Charity qualifies as a small charity. The Trustees are of the opinion that the costs of preparing such a statement would outweigh the benefits to the Charity.

Quoted investments

Quoted investments have been included in the balance sheet at mid-market value at 30 September 2020, on an individual holding basis. The valuation has been made by the Charity’s Investment Manager. All movements in value arising from investment changes and revaluation are included in the Statement of Financial Activities.

Going concern and the impact of Covid-19

After reviewing the charity’s financial position and considered the expected future cash flows, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The charity has few ongoing fixed overheads and charitable giving in any particular year is determined based on the resources available. The charity’s balance sheet is made up of a significant level of investments, the value of which is likely to be affected by the current Covid-19 pandemic. Any negative impact on the value of investments is expected to be short-term and not substantial enough to deplete the charities reserves to prevent its ongoing activities. The Trustees continue to take professional advice to manage the portfolio.

The charity’s reserves are substantial and, based on the expenditure level of recent financial years, capable of supporting the charities activities for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its accounts.

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS CHARITABLE FUND

NOTES TO THE ACCOUNTS for the year ended 30 September 2020

2
INCOMING RESOURCES
Donations
Unrestricted
Gift Aid, legacies and Deeds of Covenant – gross
Restricted
Other restricted donations - BMTT fund
3
INCOMING RESOURCES
Investments
Unrestricted
Income from quoted investments (note 6)
4
CHARITABLE ACTIVITIES
Unrestricted
Grants and donations
Restricted
Grants and donations


An analysis of grants and donations made in the period can
5
OTHER COSTS
Unrestricted
Management fee
Restricted
Marketing
2020
£
2019
£
36,607
44,905
-
3,137
2020
£
2019
£
44,161
52,642
2020
£
2019
£
46,450
42,504
43,851
34,909
be found at Appendix A.
2020
£
2019
£
3,750
1,000
4,750
9,000

The above management fee is payable to Worshipful Company of Builders’ Merchants, for the administrative services of the Clerk and office costs.

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS CHARITABLE FUND

NOTES TO THE ACCOUNTS for the year ended 30 September 2020

6
INVESTMENTS
Quoted
investments -
unrestricted
Bonds and
Government Stocks
Equities and Unit Trusts
Charibond
Other investments -
restricted
Charifund Equities
Investment Fund		 Cost at
30.09.19
£
29,423
1,231,175
30,000		 Cost at
30.09.20
£
29,423
1,312,657
30,000
1,372,080
604,992
1,977,072		 Market
value at
30.09.20
£
38,094
1,726,020
29,209		 Gain on
disposal
from
30.09.19
Valuation
£


-

12,422
-
12,422
1,344
13,766		 Gross
Income
£
1,918
40,997
1,246
1,290,598
680,510		 1,793,323
522,749		 44,161
-
1,971,108 2,316,072 44,161

7 MOVEMENT IN FUNDS

Restricted
Builders Merchants
Training Trust
Unrestricted		 At
01.10.19
£
681,444
1,910,634
2,592,078		 Incoming
resources
£
-
80,768
80,768		 Outgoing
resources
£
(43,504)
(61,393)
(104,897)		 Net
losses
£
(132,468)
(139,597)
(272,065)		 At
30.09.20
£
505,472
1,790,412
2,295,884

Purpose of restricted funds

The Builders Merchants Training fund can only be used to support training and education initiatives in the Building Materials and Construction sectors.

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS CHARITABLE FUND

NOTES TO THE ACCOUNTS for the year ended 30 September 2020

8
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
Funds
£
Restricted
Funds
£
Investments
1,793,323
522,749
Current assets
44,918
-
Liabilities
(65,106)
-
Owing between funds
17,277
(17,277)
1,790,412
505,472		 Total
£
2,316,072
44,918
(65,106)
-
2,295,884

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS CHARITABLE FUND SUMMARY OF GRANTS AND DONATIONS for the year ended 30 September 2020

APPENDIX A

Unrestricted donations

General Donations

ABF Soldiers Charity
ACFA Army Cadets
Cavell Nurse’s Trust
CHCD Charity Trust (Magical Taxi Tour)
Chickenshed Theatre Trust
Children with Cancer
Children’s Cancer Research Friends of Rosie
Dame Kelly Holmes Trust
Deafblind UK
Flowers for Widows of Past Masters
Glass Door
Help Musicians UK
Historic England
Ironbridge Gorge Trust
Ironbridge Museum
Ironbridge Silver Patron
Ken Hawley Collection Trust
London Air Ambulance
LONSAR
MQPS
National Emergencies Trust
NOTDEC Charity
Oasis Community Partnerships
Royal British Legion Poppy Appeal
S. Pinter Youth
Second Chance Charity
Spitalfields City Farm
Step Together Volunteering
Team Up
The Soldiers Charity – Big Curry Lunch
Treloar’s Trust
Turning Corners
UK Sepsis
World Heartbeat Music Academy
Carried forward to page (ii)		 2020
£
-
500
500
-
2,000
1,000
-
500
500
-
2,000
-
500
-
1,000
1,000
1,000
2,000
1,000
-
2,000
1,300
500
1,500
500
500
500
500
500
500
1,000
500
500
-
23,800
23,800		 2019
£
500
600
-
1,400
2,000
1,000
250
600
500
276
1,000
500
500
2,000
-
-
-
1,500
-
500
-
-
500
1,000
-
-
-
500
500
-
3,000
-
-
500
19,126
19,126

(i)

CHARITABLE FUND

SUMMARY OF GRANTS AND DONATIONS (continued)
Carried forward from page (i)
City
Barts COVID-19 Charity
City & Guilds Art School
C & G Nominated Prizewinner
Chapel Royal Tower of London
Drapers Company – Livery NHS Meals Support
Guildhall School of Music & Drama
Lord Mayor’s Appeal
Mansion House Scholarship Scheme
Poulter’s Company (Pancake Race)
Sheriffs’ and Recorder’s Fund
Shrieval Chains
St Paul’s Cathedral Foundation
United Guilds Service
Company
Master’s Nomination – London Transport Museum
Master’s Nomination - National Railway Museum
Master’s Nomination London Community Foundation
Warden’s Nomination – Evie’s Gift
Warden’s Nomination – Garsington Opera
Warden’s Nomination - Science Museum Group
Bursar’s Nomination – Cure Leukemia
Almoner’s Nomination – Rennie Grove Hospice Care
Beckenham & Penge Sea Cadets Unit
B&P Prizewinner
Canon Roger Hall (Honorary Chaplain – sabbatical)
Exotic Pet Rescue
HMS Forth Prizewinners
HMS Forth Welfare Fund
HM Tower of London Chapel
Imperial Health Charity Queen Charlotte’s Hospital
Leicestershire Air Ambulance Service
PWRR Best Soldier
PWRR Best Recruit
PWRR – Extra Support for COVID-19
St Leonard’s Church
The Princess of Wales’s Royal Regiment
Carried forward to page (iii)		 2020
£
23,800
500
750
250
-
2,000
1,000
1,500
-
-
-
-
1,000
-
7,000
1,250
1,250
(1,000)
250
-
-
250
250
2,000
100
-
-
400
2,000
1,000
-
-
200
200
1,000
-
2,500
11,650
42,450		 2019
£
19,126
-
250
-
1,000
-
1,000
1,000
500
300
500
100
1,000
175
5,825
-
-
1,000
1,000
1,000
-
-
2,000
100
750
500
400
5,000
-
500
500
200
200
-
500
2,500
16,150
41,101

(ii)

CHARITABLE FUND

SUMMARY OF GRANTS AND DONATIONS (continued)

Carried forward from page (ii)
Builders Merchants
Commonwealth Forestry Association
Crash
Lighthouse Construction Industry Trust
Lily Marsh
Timber Trades Benevolent Society
Total unrestricted donations
Restricted donations
Education and Training
Awards Lunch
BMF Miscellaneous Costs
BMF Prizewinners
BMF Sponsorship
Building Heroes
Building People
Build Up Foundation - Lawsons
Build Up Foundation - Materials
Build Up Prizewinners
City & Guilds Award Winner
Construction Youth Trust
Dickies – Build Up Materials
Down Tools
Lawson
Livery Schools Link
Mercers “No Going Back” Initiative
MRA
Rainy Day Trust
RDT (Apprentice Reusable Costs)
RDT Bursary Payment
Tankards for Prize Winners
The Prince’s Foundation
Toolbank
Total restricted donations
Total of all donations made		 2020
£
42,450
500
2,000
500
-
1,000
4,000

46,450
367
31
2,000
-
2,500
2,000
-
1,618
210
-
5,000
-
1,995
7,800
2,500
5,000
3,020
5,000
-
-
1,463
2,000
-
42,504
88,954		 2019
£
41,101
500
1,000
-
250
1,000
2,750
43,851
1,137
-
2,000
1,800
2,620
-
1,906
8,030
-
500
1,000
2,182
-
-
1,000
-
1,020
3,000
1,000
2,000
347
2,000
3,367
34,909
78,760

(iii)

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS

APPENDIX B

CHARITABLE FUND

SUMMARY OF QUOTED INVESTMENTS for the year ended 30 September 2020

Bonds and Government Stocks
£30,000 5.875% Gtd Bonds
Equities and Trusts
Alcon
Alphabet Inc Google
60 Capital Stock US Do 0.001
Amazon Com
21 US0.01
Aptiv plc
Com usd
Baillie Gifford
Japanese Growth
Barclays
11,500 ord 25p shares
BBGI SICAV
BHP Billiton
3,400 US$0.5 ord shares
BP Amoco Plc
6,200 US$0.25 ord shares
Charities Prop Fd
40,000 Property Fund Income
Coca Cola Co Com
850 US$0.25 ord shares
Compass Group Plc
2,200 11.05p ord shares
Diageo Plc
2,000 25p ord shares
Eastspring Investment Japan Dynamic
2600 RG GBP Cap
Experion
3,000 10c ord shares
Grafton
3,500 UTS
HICL Infrastructure
HSBC plc
4,250 75p ord shares
International Public Partner
Ishares
1,300 msci Far East Ex-Jap
Ishares 7500 GBP dist
JP Morgan Chase & Co
Com usd 1
Land Securities Plc
3,250 10p ord shares
Carried forward to page (ii)		 Cost at
30.09.19
Cost at
30.09.20
£
£
29,423
29,423
-
4,056
21,190
21,190
14,439
14,439
18,830
18,830
35,727
35,727
29,385
29,385
-
29,992
18,581
18,581
33,318
33,318
40,876
40,876
31,255
31,255
39,128
39,128
1,362
1,362
35,305
35,658
22,989
19,158
18,252
18,252
-
22,140
27,978
27,978
-
29,874
29,557
29,557
100,033
100,033
36,986
36,986
17,865
17,865
573,056
655,640		 Market
Value at
30.09.20
Gain
(loss) on
Disposal
from
30.09.19
Valuation
£
£
38,094
-
6,154
-
68,034
-
51,158
-
21,279
-
43,020
-
11,225
-
31,722
-
39,691
-
13,962
-
49,178
-
32,467
-
25,718
-
53,000
-
30,799
-
73,000
10,164
23,643
-
22,383
-
12,814
-
28,245
-
60,138
-
110,663
-
37,241
-
15,915
-
861,449
10,164

(i)

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS

CHARITABLE FUND

SUMMARY OF QUOTED INVESTMENTS (continued) For the year ended 30 September 2020 Equities and Trusts (continued)

Gain
(loss) on
Market Disposal
Cost at Cost at Value at from
30.09.19 30.09.20 30.09.20 30.09.19
Valuation
£ £ £ £
Brought forward from page (i) 573,056 655,640 861,449 10,164
Legal & General
11,400 ord 2.5p 29,855 29,855 21,472 -
Legal & General
2200 Rob&Auto 25,231
 25,306 32,621 -
Lloyds Banking Group
35,000 0.10 24,591
 24,591 9,224 -
Marriott International Inc Com Stk
USD0.01 ClassA 33,225
 33,225 28,651 -
Mayfair Capital Investment Mgm Ltd
Property Inc Trust for Charities 50,000 50,000 45,293 -
M&G plc ord GBP0.05 - 17,647 13,558 -
Novartis Ag
700 CHFn0.5 regd 33,916 29,860 47,015 -
Novo- Nordisk
270 A/S ‘B’ DKK1 24,675 24,675 72,292 -
Pimco Global Advisors Irl Ltd Global Inv
Grade Cred Hgd Instl Inc Nav 35,250 35,520 34,775 -
Prudential
3,580 5p ord 16,671 14,364 22,180 -
Reckitt Benckiser 750
10p ord shares 13,185 13,185 37,800 -
Roche Holdings AG
160 Genusscheine 29,370 29,370 42,381 -
Royal Dutch Shell
1,723 0.07 Euro B Shares 40,904 28,173 26,006 2,258
Smith 9DS) 9,700
ord 10p 24,283 24,283 22,503 -
Smiths Group
3,000 37.5p ord shares 20,452 20,452 27,500 -
Smith and Nephew 5,000
US$0.2 ord shares 8,639 8,639 30,330 -
Templton Ems Mkt 3,300
25p ord shares 22,539 22,539 27,324 -
Tesco
10,000 5p ord shares 19,260 19,260 21,250 -
Travis Perkins
3,400 10p ord shares 11,127 11,127 26,064 -
Unilever 1,807 .03111p
ord shares 2,154 2,154 33,432 -
United Rentals Inc 200
Com Stk USD 0.01 21,619
 21,619 27,001
-
Carried forward to page (iii) 1,060,002 1,141,484 1,510,121 12,422

(ii)

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS

CHARITABLE FUND CONTINUED

SUMMARY OF QUOTED INVESTMENTS (continued) For the year ended 30 September 2020 Equities and Trusts (continued)

Brought forward from page (ii)
Vanguard Index Funds 600
Visa Inc Com Stk
400 $0.01 ord shares
Vodaphone Group Plc 10909
$.114 ord shares
Charibond
M + G Securities
Other investments
Charifund Equities Investment Fund		 Cost at
30.09.19
£
1,060,002
104,701
42,510
23,962
1,231,175
30,000
680,510		 Cost at
30.09.20
£
1,141,484
104,701
42,510
23,962
1,312,657
30,000
604,992		 Market
Value at
30.09.20
£
1,510,121
142,813
61,885
11,201
1,726,020
29,209
522,749		 Gain
(loss) on
Disposal
from
30.09.19
Valuation
£
12,422
-
-
-
12,422
-
1,344

(iii)