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2021-09-30-accounts

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS CHARITABLE FUND

Registered Charity No: 235467

Annual Report and Financial Statements for the year ended 30 September 2021

C O N T E N T S Pages
GENERAL INFORMATION 1
STATEMENT OF TRUSTEES’ RESPONSIBILITIES 2
TRUSTEES’ REPORT 3-6
INDEPENDENT AUDITORS’ REPORT 7-10
STATEMENT OF FINANCIAL ACTIVITIES 11
BALANCE SHEET 12
NOTES TO THE ACCOUNTS 13-16
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
Staverton Court
Staverton
Cheltenham
GL51 0UX
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 2021

The Trustees present their report and the accounts for the year ended 30 September 2021.

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 2021 were: Martin Stewart Earle Leo James Martin Stewart William Pierce (appointed 23 October 2020) Philippa Anne Joan (Pippa) Latham (appointed 27 January 2021) Kenneth Brian Pepperrell (resigned 27 January 2021)

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 2021, the members of the Charities Committee were John Poore (Chairman), the Trustees, Alan Hawkins (Bursar), Brian Blanchard, Howard Grant, Lucia Di Stazio, Mark Mulvey and Charles Ledigo.

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS CHARITABLE FUND

TRUSTEES’ REPORT for the year ended 30 September 2021

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, Jane Hilliard.

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 £49,168 (2020: £36,607), made up of gifts and donations under Gift Aid from members of WCoBM. Charitable grants amounting to £79,819 (2020: £88,954) 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 (£45,228 – note 3 on page 14) 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 2021

The investment portfolio has realised a gain of £61,182 (2020: £13,766) on investments sold in the year whilst also reporting unrealised gains of £413,237 (2020: unrealised losses of £285,831). Overall the performance of the portfolio in the year ended 30 September 2021 was considered to have been in line with the market average.

The Statement of Financial Activities (page 11) shows the fund balance of £2,768,398 (2020: £2,295,884) as at 30 September 2021.

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 charity 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.

8 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, add value and enable positive change.

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS CHARITABLE FUND

TRUSTEES’ REPORT for the year ended 30 September 2021

9 AUDITORS

Hazlewoods LLP have expressed their willingness to continue in office.

10 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.

Martin Earle Alan Hawkins Martin Earle (May 3, 2022 09:50 GMT+1) Alan Hawkins (May 4, 2022 16:59 GMT+1) M S Earle A K Hawkins TRUSTEE BURSAR

………………………………………………….2022

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 2021 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

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. 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

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 course of 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 themselves. 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

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report.

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.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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.

INDEPENDENT AUDITORS’ REPORT

TO THE TRUSTEES OF WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS

CHARITABLE FUND

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

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.

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 fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

INDEPENDENT AUDITORS’ REPORT

TO THE TRUSTEES OF WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS

CHARITABLE FUND

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)

……………………….….2022

For and on behalf of Hazlewoods LLP, Statutory Auditor

Staverton Court Staverton Cheltenham GL51 0UX

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 2021

Note
Incoming resources
Income from
Donations
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
2021
£
49,168
45,228
94,396
11,645
88
61,093
3,750
76,576
17,820
61,103
238,428
299,531
317,351
1,790,412
2,107,763		 Restricted
2021
£
-
-
-
-
-
18,725
1,000
19,725
(19,725)
79
174,809
174,888
155,163
505,472
660,635		 Total
2021
£
49,168
45,228
94,396
11,645
88
79,818
4,750
96,301
(1,905)
61,182
413,237
474,419
472,514
2,295,884
2,768,398		 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

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS CHARITABLE FUND

BALANCE SHEET 30 September 2021

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		 2021
£
2,787,520
35,566
-
54,688
54,688
(19,122)
2,768,398
2,107,763
660,635
2,768,398		 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

Approved by the Trustees and signed on their behalf on ………………..2022.

Martin Earle Alan Hawkins Martin Earle (May 3, 2022 09:50 GMT+1) Alan Hawkins (May 4, 2022 16:59 GMT+1) M S Earle A K Hawkins TRUSTEE BURSAR

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS CHARITABLE FUND

NOTES TO THE ACCOUNTS for the year ended 30 September 2021

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 2021, 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 charity 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 2021

2 INCOMING RESOURCES
Donations 2021 2020
£ £
Unrestricted
Gift Aid, legacies and Deeds of Covenant – gross 49,168 36,607
3 INCOMING RESOURCES 2021 2020
£ £
Investments
Unrestricted
Income from quoted investments (note 6) 45,228 44,161
4 CHARITABLE ACTIVITIES 2021 2020
£ £
Unrestricted
Grants and donations 61,093 46,450
Restricted
Grants and donations		 18,725 42,504
An analysis of grants and donations made in the period can be found at Appendix A.
5 OTHER COSTS 2021 2020
£ £
Unrestricted
Management fee 3,750 3,750
Restricted
Marketing 1,000 1,000

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 2021

6
INVESTMENTS
Quoted
investments -
unrestricted
Bonds and
Government Stocks
Equities and Unit Trusts
Charibond
Other investments -
restricted
Charifund Equities
Investment Fund		 Cost at
30.09.20
£
29,423
1,312,657
30,000		 Cost at
30.09.21
£
29,423
1,594,913
-
1,624,336
584,659
2,208,995		 Market
value at
30.09.21
£
36,497
2,073,799
-		 Gain on
disposal
from
30.09.20
Valuation
£


-

61,401
(298)
61,103
79
61,182		 Gross
Income
£
2,570
42,480
178
1,372,080
604,992		 2,110,296
677,224		 45,228
-
1,977,072 2,787,520 45,228

7 MOVEMENT IN FUNDS

Restricted
Builders Merchants
Training Trust
Unrestricted		 At
01.10.20
£
505,472
1,790,412
2,295,884		 Incoming
resources
£
-
94,396
94,396		 Outgoing
resources
£
(19,725)
(76,576)
(96,301)		 Net gains
£
174,888
299,531
474,419		 At
30.09.21
£
660,635
2,107,763
2,768,398

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 2021

8
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
Funds
£
Investments
2,110,296
Current assets
35,566
Liabilities
(54,688)
Owing between funds
16,589
2,107,763		 Restricted
Funds
£
Total
£
677,224
2,787,520
-
35,566
-
(54,688)
(16,589)
-
660,635
2,768,398

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS CHARITABLE FUND SUMMARY OF GRANTS AND DONATIONS for the year ended 30 September 2021

APPENDIX A

Unrestricted donations

General Donations

General Donations
ACFA Army Cadets
Build Up Foundation Van Donation
Cavell Nurse’s Trust
Chicken Shed Theatre Trust
Children with Cancer
Clapton Common Boys Club
Construct Youth Trust
Crackerjack Children’s Trust Crisis Appeal
Dame Kelly Holmes Trust
Deafblind UK
Frontline Organisation
Glass Door
Historic England
Ironbridge Museum
Ironbridge Silver Patron
Ken Hawley Collection Trust
Linda Jayne Florist
London Air Ambulance
LONSAR
Maytrees Respite Centre Charity
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
Team Mikayla
The Marlets
The Silverline
The Soldiers Charity – Big Curry Lunch
Treloar’s Trust
Turning Corners
UK Sepsis
World Heartbeat Music Academy
Carried forward to page (ii)		 2021
£
-
5,000
1,000
2,000
-
500
500
500
500
500
1,000
2,000
500
1,000
-
1,000
477
2,000
-
1,000
2,000
-
500
2,000
1,000
1,000
-
500
1,000
250
100
500
-
2,000
-
-
1,000
31,327
31,327		 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

(i)

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS

APPENDIX A

CHARITABLE FUND

SUMMARY OF GRANTS AND DONATIONS (continued)
Carried forward from page (i)
City
Barts COVID-19 Appeal
City & Guilds Art School
C & G Nominated Prizewinner
Clergy Support Trust
Drapers Company – Livery NHS Meals Support
Guildhall School of Music & Drama
Lord Mayor’s Appeal
Mansion House Scholarship Scheme
Shrieval Badge Alison Gowman
Shrieval Badge Nicholas Lyon
Skinners Malmesbury Fund
St Paul’s Cathedral Foundation
Company
Master’s Nomination – London Transport Museum
Master’s Nomination - National Railway Museum
Master’s Nomination London Community Foundation
Master Part Contribution to TTBS
Master Part Contribution to Greyhound Trust
Masters Part Donation to Rainy Day Trust
Warden’s Nomination – Evie’s Gift
Junior Warden’s Nomination - Crash
Bursar’s Nomination – Cure Leukemia
Almoner’s Nomination – Rennie Grove Hospice Care
Almoner’s Nomination – Bliss N Charity for Newborn
Beckenham & Penge Sea Cadets Unit
B&P Prizewinner
B&P Sea Cadets
B&P Sea Cadets Tools – Toolbank
B&P Sea Cadets Tools – Malcolm Kendall
Cure Leukaemia
HMS Forth Prizewinners
HMS Forth Welfare Fund
HM Tower of London Chapel
PWRR 3rd Batallion Welfare
PWRR Best Soldier
PWRR Best Recruit
PWRR – Extra Support for COVID-19
Team Mikayla
The Princess of Wales’s Royal Regiment
Carried forward to page (iii)		 2021
£
31,327
1,000
1,000
-
250
2,000
1,000
1,000
500
50
50
1,000
1,000
8,850
-
-
-
750
1,000
250
-
500
-
-
500
-
-
2,500
284
132
500
-
2,500
1,500
2,500
-
-
-
1,000
-
13,916
54,093		 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

(ii)

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS

APPENDIX A

CHARITABLE FUND

SUMMARY OF GRANTS AND DONATIONS (continued)

Carried forward from page (ii)
Builders Merchants
Commonwealth Forestry Association
Crash
Lighthouse Construction Industry Trust
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 - Materials
Build Up Prizewinners
Construction Youth Trust
Down Tools
Lawson
Livery Schools Link
Mercers “No Going Back” Initiative
MRA
No Going Back
Princes Founation
Rainy Day Trust
Tankards for Prize Winners
The Prince’s Foundation
Total restricted donations
Total of all donations made		 2021
£
54,093
1,000
2,000
1,000
3,000
7,000
61,093
-
-
-
1,800
-
-
1,412
283
-
-
(770)
-
-
5,000
5,000
2,000
4,000
-
-
18,725
79,818		 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

(iii)

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS

APPENDIX B

CHARITABLE FUND

SUMMARY OF QUOTED INVESTMENTS for the year ended 30 September 2021

Bonds and Government Stocks
£30,000 5.875% Gtd Bonds
Equities and Trusts
Adobe Inc Com
55 USD 0.0001 shares
Advanced Micro Devices Inc
310 USD 0.01 shares
Alcon
CHF 0.04 shares
Allianz SE
115 shares
Alphabet Inc Google
37 Capital Stock USD 0.001 shares
Amazon Com
17 USD 0.01 shares
Aptiv plc Com
250 USD 0.01 shares
Associated British Foods
620 ord 15p/22p shares
ASML Holdings
50 NV EUR 9p shares
Baillie Gifford
30,000 Japanese Growth shares
Barclays
7,950 ord 25p shares
BBGI SICAV
18,400 ord shares
BHP Billiton
1,165 US$0.5 ord shares
BP Amoco Plc
5,400 US$0.25 ord shares
Cellnex Telecom SA
646 EUR 0.25 shares
Charities Prop Fd
40,000 Property Fund Income
Chevron Corporation Com
310 USD 0.75 shares
Coca Cola Co Com
570 US$0.25 ord shares
Compass Group Plc
1,150 11.05p ord shares
Diageo Plc
1,050 25p ord shares
Eastspring Investment Japan Dynamic
3,741 RG GBP Cap
Experian
1,000 10c ord shares
FIL Investment Services (UK) Limited China
Consumer – R GBP Account (14,000 shares)
Grafton Group
2,300 ord EUR 0.05 shares
Halma
600 ord GBP 0.10 shares
Carried forward to page (ii)		 Cost at
30.09.20
Cost at
30.09.21
£
£
29,423
29,423
-
19,488
-
20,138
4,056
-
-
19,433
21,190
13,067
14,439
11,689
18,830
15,691
-
15,036
-
19,835
35,727
35,727
29,385
20,314
29,992
29,992
18,581
12,380
33,318
29,019
-
25,378
40,876
40,876
-
20,254
31,255
20,959
39,128
20,453
1,362
715
35,658
35,708
19,158
7,663
-
20,762
18,252
11,994
-
14,981
391,207
481,552		 Market
Value at
30.09.21
Gain
(loss) on
Disposal
from
30.09.20
Valuation
£
£
36,497
-
23,498
-
23,672
-
-
1,400
19,261
-
73,409
8,797
41,443
157
27,638
1,828
11,532
-
27,762
-
46,890
-
15,073
1,577
32,016
-
21,998
8,926
18,376
244
29,598
-
52,140
-
23,339
-
22,195
(613)
17,526
2,011
37,863
3,068
42,599
-
31,090
(3,646)
15,008
-
29,325
2,702
17,052
-
700,303
26,451

(i)

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS

APPENDIX B

CHARITABLE FUND

SUMMARY OF QUOTED INVESTMENTS (continued)

For the year ended 30 September 2021 Equities and Trusts (continued)

SUMMARY OF QUOTED INVESTMENTS
(continued)
For the year ended 30 September 2021
Equities and Trusts (continued)
Gain
Market (loss) on
Cost at Cost at Value at Disposal
from
30.09.20 30.09.21 30.09.21 30.09.20
Valuation
£ £ £ £
Brought forward from page (i)
391,207
481,552		 700,303 26,451
HICL Infrastructure
13,500 ord GBP 0.0001 shares 22,140 22,140 22,491 -
Honeywell International Inc Com
135 USD 1.00 shares - 19,516 21,267 -
HSBC Holdings plc
2,700 75p ord shares 27,978 17,774 10,531 1,344
International Public Partner
17,500 GBP 0.0001 shares 29,874 29,874 28,350 -
Ishares
1,185 msci Far East Ex-Jap 29,557 26,981 56,323 755
Ishares
7,500 GBP dist 100,033 100,040 102,375 -
JD Sports Fashion plc
1,850 ord GBP 0.0025 shares - 15,078 19,397 -
JP Morgan Asset Management UK Ltd
Emerging Markets C Net Income (13,000 shares) - 30,290 26,767 -
JP Morgan Chase & Co
380 USD 1.00 shares 36,986 28,109 46,161 3,015
Land Securities Plc
2,140 10p ord shares
 17,865
 14,885 14,916 2,948
Legal & General
4,300 ord GBP 0.025 shares 29,855 11,261 12,087 4,617
Legal & General
2,200 Rob & Auto
 25,306
 25,342 42,235 -
Lloyds Banking Group
17,450 GBP 10p shares 24,591
 12,261 8,126 1,385
London Stock Exchange Group
160 GBP 0.06918604 shares - 14,785 11,920 -
LVMH Moet Hennessy Vuitton SE
55 EUR 0.30 shares - 25,253 29,318 -
M&G plc
5,550 ord GBP 0.05 shares 17,647 11,522 11,300 816
Marriott International Inc Com Stk
230 USD0.01 Class A shares 33,225
 19,105 25,277 3,363
Mayfair Capital Investment Mgm Ltd
Property Inc Trust for Charities (54,993 shares)		 50,000 50,000 48,688 -
Medtronic plc
240 USD 0.0001 shares - 19,670 22,325 -
Mercantile Investment Trust plc
14,500 ord GBP 0.025 shares - 35,076 38,570 -
Merck & Co Inc Com
350 USD 0.50 shares - 19,264 19,509 -
National Grid
1,765 ord GBP 0.12431289 shares - 16,325 15,613 -
Netflix Inc Com
40 USD 0.001 shares - 15,945 18,117 -
Carried forward to page (iii) 836,264 1,062,048 1,351,966 44,694

(ii)

APPENDIX B

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS

CHARITABLE FUND

SUMMARY OF QUOTED INVESTMENTS (continued) For the year ended 30 September 2021 Equities and Trusts (continued)

Gain
(loss) on
Market Disposal
Cost at Cost at Value at from
30.09.20 30.09.21 30.09.21 30.09.20
Valuation
£ £ £ £
Brought forward from page (ii) 836,264 1,062,048 1,351,966 44,694
Novartis Ag
300 CHF 0.50 regd shares 29,860 12,797 18,361 6,161
Novo- Nordisk
A/S ‘B’ DKK1 24,675 - - (271)
Pimco Global Advisors Irl Ltd Global Inv Grade
Cred Hgd Instl Inc Nav (2,500 shares) 35,520 35,250 34,575 -
Prudential
1,300 5p ord 14,364 9,337 18,915 704
Reckitt Benckiser
10p ord shares 13,185 - - -
Rio Tinto
520 10p ord shares - 29,905 25,550 -
Roche Holdings AG
85 Genusscheine 29,370 15,603 23,154 (1,056)
Rockwell Automation Inc Com
165 USD 1.00 shares - 29,973 36,004 -
Royal Dutch Shell
1,966 0.07 Euro B Shares 28,173 20,024 32,431 2,444
Schindler-Hldg AG
100 CHF 0.10 shares - 19,496 20,011 -
Segro Plc
1,550 ord 10p shares - 15,039 18,523 -
Smith and Nephew
1,300 USD 0.20 ord shares 8,639 5,616 16,731 (438)
Smith (DS)
4,186 ord 10p 24,283 13,312 17,284 2,845
Smiths Group
1,100 37.5p ord shares 20,452 11,249 15,851 1,214
T-Mobile US Inc Com
210 USD 0.00001 shares - 19,789 19,910 -
Taiwan Semiconductor Manufacturing Spon
ADS Each Rep 5 Ord TWD10 (160 shares) - 14,683 13,257 -
Templeton Ems Mkt
31,000 5p ord shares - 52,437 55,800 -
Templeton Ems Mkt
25p ord shares 22,539 - - -
Tesco
5p ord shares 19,260 - - -
Thermo Fisher Scientific Inc Com
55 USD 1.00 shares - 20,752 23,319 -
Trane Technologies Plc Com
280 USD 1.00 shares - 29,553 35,875 -
Travis Perkins
10p ord shares 11,127 - - -
Unilever plc
700 0.031111 ord shares 2,154 2,154 28,035 -
Carried forward to page (iv) 1,119,865 1,419,017 1,805,552 56,297

(iii)

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS

APPENDIX B

CHARITABLE FUND

SUMMARY OF QUOTED INVESTMENTS (continued) For the year ended 30 September 2021 Equities and Trusts (continued)

Brought forward from page (iii)
United Rentals Inc 200 Com Stk
110 USD 0.01 shares
United Utilities Group
Ord GBP 0.05 shares
Vanguard Index Funds
600 S&P 500 ETF USD shares
Visa Inc Com Stk
180 USD 0.0001 ord shares
Vodafone Group Plc
USD 0.2095238 ord shares
Volkswagen Ag Non Vtg Prf
120 shares
Whitbread
430 ord GBP 0.76797385 shares
Charibond
M + G Securities
Other investments
Charifund Equities Investment Fund		 Cost at
30.09.20
£
1,119,865
21,619
-
104,701
42,510
23,962
-
-
1,312,657
30,000
604,992		 Cost at
30.09.21
£
1,419,017
11,891
-
104,701
19,130
-
25,344
14,830
1,594,913
-
584,659		 Market
Value at
30.09.21
£
Gain
(loss) on
Disposal
from
30.09.20
Valuation
£
1,805,552
56,297
28,647
4,477
-
1,882
175,611
-
29,755
(1,255)
-
-
19,975
-
14,259
-
2,073,799
61,401
-
(298)
677,226
79

(iv)

WCOBM - FY21 charity accounts for signing

Final Audit Report 2022-05-04

Created: 2022-05-03 By: Julie Langford (julie.langford@nmbs.co.uk) Status: Signed Transaction ID: CBJCHBCAABAA-7AfbGGxb81RNQ7o1IGE_jKSEsgxITDc

"WCOBM - FY21 charity accounts for signing" History

Document created by Julie Langford (julie.langford@nmbs.co.uk)

2022-05-03 - 7:58:49 AM GMT- IP address: 195.97.223.62

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2022-05-03 - 8:01:21 AM GMT

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Document e-signed by Martin Earle (martin@migsy.com)

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