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2022-09-30-accounts

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS CHARITABLE FUND

Registered Charity No: 235467

Annual Report and Financial Statements for the year ended 30 September 2022

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 Warwick Lane
London
EC4M 7BR
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: Philippa Anne Joan (Pippa) Latham
Howard Grant
Richard Hill
Andrew Brian Williamson
Bursar: Julie Langford
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 2022

The Trustees present their report and the accounts for the year ended 30 September 2022.

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 2022 were: Martin Stewart Earle (resigned 1 January 2022) Leo James Martin (resigned 1 January 2023) Stewart William Pierce (resigned 23 October 2021) Philippa Anne Joan (Pippa) Latham Andrew Williamson (appointed 23 October 2021) Howard Grant (appointed 1 January 2022)

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 2022, the members of the Charities Committee were John Poore (Chairman), Andrew Williamson (Master), Richard Hill (Senior Warden), the Trustees, Julie Langford (Bursar), Alan Hawkins (Junior Warden), Simon Lawson (Keeper of the Roll), Lucia Di Stazio, Mark Mulvey and Charles Ledigo.

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS CHARITABLE FUND

TRUSTEES’ REPORT for the year ended 30 September 2022

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, Julie Langford, 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 £49,660 (2021: £49,168) made up of gifts and donations under Gift Aid from members of WCoBM. Charitable grants amounting to £101,945 (2021: £79,818) 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 – (£45,134 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 2022

The investment portfolio has realised a gain of £46,454 (2021: £61,182) on investments sold in the year whilst also reporting unrealised losses of £(225,456) (2021: gains of £413,237). Overall the performance of the portfolio in the year ended 30 September 2022 was considered to have been in line with the market average.

The Statement of Financial Activities (page 11) shows the fund balance of £2,564,817 (2021: £2,768,398) as at 30 September 2022.

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

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 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 2022

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.

----- Start of picture text -----
Howard Grant (Jun 25, 2023 20:41 GMT+1) Julie Langford (Jun 26, 2023 08:01 GMT+1)
H Grant J Langford
TRUSTEE BURSAR
Jun 26, 2023
………………………………………………….2023
----- End of picture text -----

Principal Office: 4 Warwick Lane, London EC4M 7BR

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 2022 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.

Extent to which the audit was capable of detecting irregularities, including fraud 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:

We considered the nature of the charity’s industry and its control environment and reviewed the charity’s documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also enquired of management about their own identification and assessment of the risks of irregularities.

We obtained an understanding of the legal and regulatory framework that the charity operates in and identified the key laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements, including the UK Charities Act and tax legislation, and those that do not have a direct effect on the financial statements but compliance with which may be fundamental to the charity’s ability to operate or to avoid a material penalty.

We discussed among the audit engagement team regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.

INDEPENDENT AUDITORS’ REPORT

TO THE TRUSTEES OF WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS

CHARITABLE FUND

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgments made in accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.

In addition to the above, our procedures to respond to the risks identified included the following:

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our 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.

………………….……………………….. 26 June Ryan Hancock (Senior Statutory Auditor) ……………………….….2023

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 2022

Note
Incoming resources
Income from:
Donations
2
Investments
3
Interest received
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
2022
£
49,660
45,134
13
94,807
12,601
90
58,817
3,750
75,258
19,549
46,046
(244,462)
(198,416)
(178,867)
2,107,763
1,928,896		 Restricted
2022
£
-
-
-
-
-
-
43,128
1,000
44,128
(44,128)
408
19,006
19,414
(24,714)
660,635
635,921		 Total
2022
£
49,660
45,134
13
94,807
12,601
90
101,945
4,750
119,386
(24,579)
46,454
(225,456)
(179,002)
(203,581)
2,768,398
2,564,817		 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

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS CHARITABLE FUND

BALANCE SHEET 30 September 2022

Fixed assets
Note
Investments
6
Current assets
Bank and brokers deposit accounts
Liabilities
Due within one year
Loan from Corporate Fund
Net current assets / (liabilities)
Net assets
The funds of the charity
Unrestricted
7
Restricted
7		 2022
£
2,536,585
82,920
54,688
54,688
28,232
2,564,817
1,928,896
635,921
2,564,817		 2021
£
2,787,520
35,566
54,688
54,688
(19,122)
2,768,398
2,107,763
660,635
2,768,398

Approved by the Trustees and signed on their behalf on …………………2Jun 26, 2023 023.

----- Start of picture text -----
Howard Grant (Jun 25, 2023 20:41 GMT+1) Julie Langford (Jun 26, 2023 08:01 GMT+1)
H Grant J Langford
TRUSTEE BURSAR
----- End of picture text -----

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS CHARITABLE FUND

NOTES TO THE ACCOUNTS

for the year ended 30 September 2022

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 2022, 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

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 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 2022

2 INCOMING RESOURCES

Donations 2022 2021
£ £
Unrestricted
Gift Aid, legacies and Deeds of Covenant – gross 49,660 49,168
3 INCOMING RESOURCES 2022 2021
£ £
Investments
Unrestricted
Income from quoted investments (note 6) 45,134 45,228
4 CHARITABLE ACTIVITIES 2022 2021
£ £
Unrestricted
Grants and donations 58,817 61,093
Restricted
Grants and donations		 43,128 18,725
An analysis of grants and donations made in the period can be found at Appendix A.
5 OTHER COSTS 2022 2021
£ £
Unrestricted
Management fee 3,750 3,750
Restricted
Management fee 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 2022

6 INVESTMENTS

6
INVESTMENTS
Cost at
30.09.21
£
Quoted
investments -
unrestricted
Bonds and
Government
Stocks
29,423
Equities and Unit Trusts
1,594,913
1,624,336
Other investments -
restricted
Charifund Equities
Investment Fund
584,659
2,208,995
7
MOVEMENT IN FUNDS
At
01.10.21
£
Restricted
Builders Merchants
Training Trust
660,635
Unrestricted
2,107,763
2,768,398		 Cost at
30.09.21
£
29,423
1,594,913		 Cost at
30.09.22
£
29,423
1,630,088
1,659,511
584,659
2,244,170
Incoming
resources
£
-
94,807
94,807		 Market
value at
30.09.22
£
29,755
1,870,909		 Gain on
disposal
from
30.09.21
Valuation
£
-
46,046
46,046
408
46,454
Net gains
£
19,414
(198,416)
(179,002)		 Gross
Income
£
2,180
42,954
1,624,336
584,659		 1,900,664
635,921		 45,134
-
2,208,995 2,536,585 45,134
Outgoing
resources
£
(44,128)
(75,258)		 At
30.09.22
£
635,921
1,928,896
(119,386) 2,564,817

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 2022

8 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Investments
Current assets
Liabilities		 Unrestricted
Funds
£
1,900,664
82,920
(54,688)
1,928,896		 Restricted
Funds
£
635,921
-
-
635,921		 Total
£
2,536,585
82,920
(54,688)
2,564,817

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS CHARITABLE FUND SUMMARY OF GRANTS AND DONATIONS for the year ended 30 September 2022

APPENDIX A

Unrestricted donations

General Donations

General Donations
Age UK
Army Cadet Charitable Trust
Aldgate Primary School Appeal
Amy Reade
Build Up Foundation Van Donation
Cavell Nurse’s Trust
Chicken Shed Theatre Trust
Clapton Common Boys Club
Construct Youth Trust
Crackerjack Children’s Trust Crisis Appeal
Dame Kelly Holmes Trust
Deafblind UK
Disaster Emergencies Committee - UKRAINE
Fine Cell Work
Frontline Organisation
Glass Door
Hackney Carr. Drivers Charity
Historic England
Ironbridge Museum
Ken Hawley Collection Trust
Linda Jayne Florist
London Air Ambulance
Maytrees Respite Centre Charity
National Emergencies Trust
Oasis Community Partnerships
Royal British Legion Poppy Appeal
Royal British Legion - Falklands Project
S. Pinter Youth
Second Chance Charity
Spitalfields City Farm
Spitalfields Crypt Trust
Step Together Volunteering
St. Mary’s University Organ Fund
Team Up
Team Mikayla
The Marlets
The Silverline
Treloar’s Trust
Widows of Past Masters Xmas Flowers
Winston’s Wish
World Heartbeat Music Academy
Carried forward to page (ii)		 2022
£
500
500
500
500
-
1,000
1,500
-
-
550
500
500
3,000
500
500
1,000
1,400
1,000
1,000
1,000
-
1,000
-
-
500
-
1,000
1,000
1,000
500
500
500
500
1,000
-
-
-
2,000
417
500
1,000
26,867
26,867		 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

(i)

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS

APPENDIX A

CHARITABLE FUND

SUMMARY OF GRANTS AND DONATIONS (continued)
Carried forward from page (i)
City
Awards Lunch
Barts COVID-19 Appeal
City & Guilds Art School
City of London Corp. - Police Volunteer Cadets
C & G London Art School
Clergy Support Trust
Drapers Company – Livery NHS Meals Support
Historic Royal Palaces
Garden of Remembrance
Guildhall School of Music & Drama
Laura Miller re Murray Craig retirement
Lord Mayor’s Appeal
Mansion House Scholarship Scheme
Platinum Jubilee Pageant
Pollinating London Together
Poulters Company
Shrieval Badge Alastair King
Shrieval Badge Alison Gowman
Shrieval Badge Andrew Marsden
Shrieval Badge Nicholas Lyon
Skinners Malmesbury Fund
St Paul’s Cathedral Foundation
Company
Master Part Contribution to TTBS
Master Part Contribution to Greyhound Trust
Masters Part Donation to Rainy Day Trust
Masters Donation to RDT
Junior Warden’s Nomination - Crash
Almoner’s Nomination – Bliss N Charity for Newborn
Awards Lunch
BBMF RAF Memorial Flight O.C.
Bliss N.Charity for Newborn(Almoner Donation)
B&P Sea Cadets
B&P Sea Cadets Tools – Toolbank
B&P Sea Cadets Tools – Malcolm Kendall
Catholic Ass. Performing Arts
Construction Youth Trust
Cure Leukaemia
Dun-Roamin' Rehoming
HMS Forth Welfare Fund
HM Tower of London Chapel
PWRR 3rd Batallion Welfare
RAF Coningsby Grants Account (Fiona Woolf)
Senior Warden Richard Hill - Crash
Team Mikayla
Carried forward to page (iii)		 2022
£
26,867
250
-
-
500
1,000
-
-
2,000
190
500
50
1,500
500
500
500
210
50
-
50
-
-
1,000
8,800
-
-
-
2,000
-
-
1,650
2,000
500
2,000
-
-
500
250
500
250
2,500
1,000
2,500
500
1,000
-
17,150
52,817		 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

(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 Sponsorship
Building Heroes Foundation
Building People
Build Up Foundation - Materials
Build Up Prizewinners
Build Up Foundation – Curtis Holt Ltd
Construction Youth Trust – Maddie Rose Project
Lawson
Mike Rigby Limited
MRA
No Going Back
Princes Foundation
Rainy Day Trust
Total restricted donations
Total of all donations made		 2022
£
52,817
1,500
1,500
1,500
1,500
6,000
58,817
2,726
1,800
2,500
2,000
6,183
-
9,919
5,000
-
2,000
-
5,000
2,000
4,000
43,128
101,945		 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

(iii)

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS

APPENDIX B

CHARITABLE FUND

SUMMARY OF QUOTED INVESTMENTS for the year ended 30 September 2022

Bonds and Government Stocks
£30,000 5.875% Gtd Bonds
Equities and Trusts
Adobe Inc Com
32 USD 0.0001 shares
Advanced Micro Devices Inc
310 USD 0.01 shares
Allianz SE
115 shares
Alphabet Inc Google
580 Capital Stock USD 0.001 shares
Amazon Com
340 USD 0.01 shares
Aptiv plc Com
0 USD 0.01 shares
Anglo American
325 USD 0.54945 shares
Associated British Foods
0 ord 15p/22p shares
ASML Holdings
42 NV EUR 9p shares
Astrazeneca
295 ord shares
Baillie Gifford
30,000 Japanese Growth shares
Barclays
7,950 ord 25p shares
BBGI SICAV
18,400 ord shares
BHP Billiton
0 US$0.5 ord shares
BP Amoco Plc
6,645 US$0.25 ord shares
Cellnex Telecom SA
316 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
900 10c ord shares
Exxon Mobil Corporation Com NPV
215 ord shares
FIL Investment Services (UK) Limited China
Consumer – R GBP Account (0 shares)
Grafton Group
2,300 ord EUR 0.05 shares
Carried forward to page (ii)		 Cost at
30.09.21
Cost at
30.09.22
£
£
29,423
29,423
19,488
11,338
20,138
20,138
19,433
19,433
13,067
10,242
11,689
11,689
15,691
-
-
10,845
15,036
-
19,835
16,661
-
29,915
35,727
35,727
20,314
20,314
29,992
29,992
12,380
-
29,019
34,021
25,378
12,414
40,876
40,876
20,254
20,254
20,959
20,959
20,453
20,453
715
715
35,708
35,757
7,663
6,897
-
15,229
20,762
-
11,994
11,994
466,571
435,863		 Market
Value at
30.09.22
Gain
(loss) on
Disposal
from
30.09.21
Valuation
£
£
29,755
-
7,891
(941)
17,599
-
16,343
-
49,707
12,426
34,424
-
-
4,341
8,890
-
-
(5,199)
15,996
1,655
29,335
-
39,960
-
11,472
-
29,440
-
-
15,451
28,779
-
8,824
(1,850)
58,366
-
39,906
-
28,611
-
20,758
-
39,874
-
40,855
-
23,949
2,663
16,819
-
-
(8,463)
15,451
-
582,979
20,082

(i)

APPENDIX B

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS

CHARITABLE FUND

SUMMARY OF QUOTED INVESTMENTS (continued) For the year ended 30 September 2022 Equities and Trusts (continued)

SUMMARY OF QUOTED INVESTMENTS
(continued)
For the year ended 30 September 2022
Equities and Trusts (continued)
Gain
(loss) on
Market Disposal
Cost at Cost at Value at from
30.09.21
30.09.21 30.09.22 30.09.22 Valuation
£ £ £ £
Brought forward from page (i) 466,571 435,863 582,979 20,082
GSK PLC - 8,210 6,059 -
464 ord GBP 0.3125 shares
Haleon PLC - 1,821 1,620 -
580 ord GBP 0.01 shares
Halma
600 ord GBP 0.10 shares 14,981 14,981 12,270 -
HICL Infrastructure
13,500 ord GBP 0.0001 shares 22,140 22,140 21,816 -
Honeywell International Inc Com
100 USD 1.00 shares 19,516 14,456 14,961 105
HSBC Holdings plc
3,400 75p ord shares 17,774 21,766 15,892 -
International Public Partner
18,958 GBP 0.0001 shares 29,874 32,199 28,778 -
Intuit Inc Com
30 USD 0.01 shares - 9,914 10,411 -
Ishares
0 msci Far East Ex-Jap 26,981 - - 24,525
Ishares
6,800 GBP dist 100,040 90,703 70,788 645
JD Sports Fashion plc
9,250 ord GBP 0.0005 shares 15,078 15,078 9,269 -
JP Morgan Asset Management UK Ltd
Emerging Markets C Net Income (0 shares) 30,290 - - 8,918
JP Morgan Chase & Co
380 USD 1.00 shares 28,109 28,109 35,580 -
Land Securities Plc
0 10p ord shares 14,885 - - 1,885
Legal & General
4,300 ord GBP 0.025 shares 11,261 11,261 9,310 -
Legal & General
2,200 Rob & Auto 25,342 25,342 33,286 -
Lloyds Banking Group
25,065 GBP 10p shares 12,261 16,256 10,374 -
London Stock Exchange Group
160 GBP 0.06918604 shares 14,785 14,875 12,205 -
LVMH Moet Hennessy Vuitton SE
43 EUR 0.30 shares 25,253 19,743 23,054 1,499
M&G plc
5,550 ord GBP 0.05 shares 11,522 11,522 9,244 -
Marriott International Inc Com Stk
230 USD0.01 Class A shares 19,105 19,105 28,880 -
Mayfair Capital Investment Mgm Ltd
Property Inc Trust for Charities (54,993 shares)		 50,000 50,000 55,239 -
Medtronic plc
240 USD 0.0001 shares 19,670 19,670 17,364 -
Mercantile Investment Trust plc
14,500 ord GBP 0.025 shares 35,076 35,076 23,925 -
Merck & Co Inc Com
350 USD 0.50 shares 19,264 19,264 27,007 -
Mondelez Intl Inc Com NPV
290 ord shares - 14,950 14,247 -
Carried forward to page (iii) 1,029,778 952,215 1,074,738 39,823

(ii)

APPENDIX B

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS

CHARITABLE FUND

CHARITABLE FUND
Gain
SUMMARY OF QUOTED INVESTMENTS (loss) on
(continued) Market Disposal
For the year ended 30 September 2022 Cost at Cost at Value at from
Equities and Trusts (continued) 30.09.21 30.09.22 30.09.22 30.09.21
Valuation
£ £ £ £
Brought forward from page (ii) 1,029,778 952,215 1,074,738 39,823
National Grid
1,765 ord GBP 0.12431289 shares		 16,325 16,325 16,432 -
Neste SA
150 CHF010 shares		 - 14,806 14,577 -
Netflix Inc Com
40 USD 0.001 shares 15,945 15,945 8,438 -
Novartis Ag
300 CHF 0.50 shares 12,797 12,797 20,564 -
Pacific Capital UCITS Funds Plc
2,785 ord shares - 33,651 31,771 -
Palo Alto Networks Inc Com
69 USD0.0001 shares - 9,801 10,126 -
Pfizer Inc Com
225 USD 0.05 shares - 9,853 8,822 -
Philip Morris International Inc Com NPV
125 ord shares - 9,841 9,297 -
Pimco Global Advisors Irl Ltd Global Inv Grade
Cred Hgd Instl Inc Nav (2,500 shares) 35,250 35,250 27,125 -
Prudential
1,340 5p ord 9,337 9,908 11,977 -
Prusik Umbrella UCITS Fund PLC
185 ord shares - 30,526 30,221 -
Rio Tinto
520 10p ord shares 29,905 29,905 25,459 -
Roche Holdings AG
85 Genusscheine 15,603 15,603 24,951 -
Rockwell Automation Inc Com
80 USD 1.00 shares 29,973 14,532 15,419 (1,373)
Schindler-Hldg AG
100 CHF 0.10 shares 19,496 19,496 14,035 -
Segro Plc
1,550 ord 10p shares 15,039 15,039 11,672 -
Shell PLC
1,966 0.07 Euro ord Shares 20,024 20,024 44,166 -
Smith and Nephew
1,300 USD 0.20 ord shares 5,616 5,616 13,657 -
Smith (DS)
4,186 ord 10p 13,312 13,312 10,754 -
Smiths Group
0 37.5p ord shares 11,249 - - 4,871
T-Mobile US Inc Com
210 USD 0.00001 shares 19,789 19,789 25,245 -
Taiwan Semiconductor Manufacturing Spon
ADS Each Rep 5 Ord TWD10 (160 shares) 14,683 14,683 9,829 -
Templeton Ems Mkt
31,000 5p ord shares 52,437 52,437 43,524 -
Thermo Fisher Scientific Inc Com
55 USD 1.00 shares 20,752 20,752 24,994 -
Trane Technologies Plc Com
0 USD 1.00 shares		 29,553 - - 2,725
Unilever plc
700 0.031111 ord shares 2,154 2,154 27,783 -
Carried forward to page (iv) 1,419,017 1,394,260 1,555,576 46,046

(iii)

WORSHIPFUL COMPANY OF BUILDERS’ MERCHANTS

APPENDIX B

CHARITABLE FUND

SUMMARY OF QUOTED INVESTMENTS (continued) For the year ended 30 September 2022 Equities and Trusts (continued)

Brought forward from page (iii)
Union Pacific Crop Com STK
700 USD 2.50 shares
United Rentals Inc 200 Com Stk
110 USD 0.01 shares
Vanguard Index Funds
600 S&P 500 ETF USD shares
Veritas Funds PLC Veritas Asian D GBP
22 ord shares
Visa Inc Com Stk
180 USD 0.0001 ord shares
Volkswagen Ag Non Vtg Prf
120 shares
VH Gbl Sustainable Energy
29, 600 ord GBP0.01
Whitbread
430 ord GBP 0.76797385 shares
Other investments
Charifund Equities Investment Fund		 Cost at
30.09.21
£
Cost at
30.09.22
£
Market
Value at
30.09.22
£
Gain
(loss) on
Disposal
from
30.09.21
Valuation
£
1,419,017
1,394,260
1,555,576
46,046
-
9,906
9,950
-
11,891
11,891
26,623
-
104,701
104,701
176,514
-
-
19,982
19,441
-
19,130
19,130
28,651
-
25,344
25,344
13,323
-
-
30,044
30,932
-
14,830
14,830
9,899
-
1,594,913
1,630,088
1,870,909
46,046
584,659
584,659
635,921
408

(iv)

Charity�Final�Accounts�2022�(for�signing)

Final�Audit�Report 2023-06-26

Created: 2023-06-25 By: Julie�Langford�(julie.langford@nmbs.co.uk) Status: Signed Transaction�ID: CBJCHBCAABAATWGpu2OO6hczn7wskf8Ehw3gnH4LpCFS

"Charity�Final�Accounts�2022�(for�signing)"�History

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

2023-06-25�-�6:02:14�PM�GMT-�IP�address:�92.8.253.52

Document�emailed�to�hgassociates@yahoo.co.uk�for�signature

2023-06-25�-�6:04:05�PM�GMT

Email�viewed�by�hgassociates@yahoo.co.uk

2023-06-25�-�6:04:40�PM�GMT-�IP�address:�104.28.40.142

Signer�hgassociates@yahoo.co.uk�entered�name�at�signing�as�Howard�Grant

2023-06-25�-�7:41:37�PM�GMT-�IP�address:�86.157.222.43

Document�e-signed�by�Howard�Grant�(hgassociates@yahoo.co.uk)

Signature�Date:�2023-06-25�-�7:41:39�PM�GMT�-�Time�Source:�server-�IP�address:�86.157.222.43

Document�emailed�to�Julie�Langford�(julie.langford@nmbs.co.uk)�for�signature 2023-06-25�-�7:41:40�PM�GMT

Email�viewed�by�Julie�Langford�(julie.langford@nmbs.co.uk)

2023-06-26�-�6:56:11�AM�GMT-�IP�address:�195.97.223.62

Document�e-signed�by�Julie�Langford�(julie.langford@nmbs.co.uk)

Signature�Date:�2023-06-26�-�7:01:33�AM�GMT�-�Time�Source:�server-�IP�address:�195.97.223.62

Agreement�completed.

2023-06-26�-�7:01:33�AM�GMT