2021-04-05-accounts - Tallow Chandlers Benevolent Fund No 2

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			Page
Reference and administrative		details ofthe Charity, its Trustee and advisers
Trustee's report			2-5
Independent auditors'	repok	on the financial statements	6-10
Statement offinancial	activities
Balance sheet			12
Statement ofcash flows
Notes to the financial	statements		14-29

Trustee		The Worshipful	Company ofTallow Chandlers	Company ofTallow Chandlers
Charity registered
number		246255
Principal ofgce		Tallow Chandlers'		Hall
		4 Dowgate Hill
		London
		EC4R 2SH
Independent	auditors	Kreston Reeves	LLP
		Chartered Accountants
		Springfield House
		Springfield Road
		Horsham
		West Sussex
		RH12 2RG
Bankers		Coutts &Co
		440 Strand
		London
		WC2R OQS
Investment	Managers	Quilter Cheviot	Limited
		Senator House
		85Queen Victoria		Street
		London
		EC4V 4AB

for the year ended	5April 2021
			Restricted	Designated	Total	Total
			funds	funds	funds	funds
			2021	2021	2021	2020
		Note	6	6	5	5
Income from:
Donations and legacies			49,062	343,435	392,497	572,621
Investments				311,736	3'I1,736	329,557
Total income			49,062	655,171	704,233	902,178
Expenditure on:
Raising funds				32,213	32,213	42,057
Charitable activities		8	49,062	417,103	466,165	777,104
Total expenditure			49,062	449,316	498,378	819,161
Net income before net gains/(losses) on investments				205855	205855	83,017
Net gains/(losses)	on investments			2,626,694	2,626,694	(1,399,664)
Net movement in	funds			2,832,549	2,832,549	(1,316,647)
Reconciliation of	funds:
Total funds brought	forward		2,840	8,651,607	8,654,447	9,971,094
Net movement in funds				2,832,549	2,832,549	(1,316,647)
Total funds carried forward			2,840	11,484,156	11,486,996	8,654,447

as at5April 2021
					2021		2020
			Note		6
Fixed assets
Investments			12		11,374,972		8,631,122
					11,374,972		8,831,122
Current assets
Debtors			13	220,045		219,147
Cash at bank and	in hand			414,842		324,227
				634,887		543,374
Creditors: amounts	falling due within one
year			14	(452,038)		(419,553)
Net current assets					182,849		123,821
Total assets less	current liabilities				11,557,821		8,754,943
Creditors: amounts	falling due after more
than one year			15		(70,825)		(100,496)
Net assets excluding		pension asset			11,486,996		8,654,447
Total net assets					11,486,996		8,654,447
Charity funds
Restricted funds			17		2,840		2,840
Unrestricted funds			17		11,484,156		8,651,607
Totalfunds					11,486,996		8,654,447

Statement ofcash flows for the year ended 5April	2021
			2021	2020
Cash flows from operating	activities
Net cash used in operating	activities		(104,006)	(141,832)
Cash flows from investing	activities
Dividends, interests and rents from investments			311,736	329,557
Proceeds from sale ofinvestments			1,361,087	727,291
Purchase ofinvestments			(1,184,218)	(880,335)
Net cash provided by investing activities			488,605	176,513
Change in cash and cash	equivalents in	the year	384,599	34,681
Cash and cash equivalents	at the beginning	ofthe year	354,716	320,035
Cash and cash equivalents	atthe end of	the year	739,315	354,716
The notes on pages 14to 29form part ofthese financial statements

						Restricted	Designated	Total
						funds	funds	funds
						2021	2021	2021
						8	6	8
Donations	from Liverymen	and	Freemen	(including	tax
recoveries)							119,393	119,393
Other donations						24,531	37,800	62,331
Donation	from The Worshipful		Company	ofTallow	Chandlers	24,531	186,242	210,773
						49,062	343,435	392,497
						Restricted	Designated	Total
						funds	funds	funds
						2020 F	2020 F	2020 f
Donations
Donations	from Liverymen	and	Freemen	(including	tax
recoveries)							119,919	119,919
Other donations						106,391	46,545	152,936
Donation	from The Worshipful		Company	ofTallow	Chandlers	116,391	173,375	289,766
Total donations						222,782	339,839	562,621
Legacies						10,000		10,000
						232,782	339,839	572,621

Designated	Total
funds	funds
2021	2021
5	R
293,754	293,754
17,982	17,982
311,736	311,736
Designated	Total
funds	funds
2020	2020
F
309,487	309,487
20,070	20,070
329,557	329,557

			Designated	Total
			funds	funds
			2021	2021
			6	R
Investment	management	costs	12,689	12,689
Support costs - raising funds			19,524	19,524
Total2021			32,213	32,213
			Designated	Total
			funds	funds
			2020	2020
			6
Investment	management	costs	22,372	22,372
Support costs - raising funds			19,685	19,685
Total 2020			42,057	42,057
Analysis ofsupport costs
			Designated	Total
			funds	funds
			2021	2021
			6	6
Staff costs			13,860	13,860
Office costs			2,522	2,522
Premises costs			3,017	3,017
Professional	costs		125	125
Total 2021			19,524	19,524
			Designated	Total
			funds	funds
			2020	2020
Staff costs			12,252	12,252
Oiffcs costs			3,188	3,188
Premises costs			4,032	4,032
Professional	costs		213	213
Total 2020			19685	19685

							Grants to	Total
							Institutions	funds
							2021	2021
							8	5
Grant funding							341,893	341,893
							Grants to	Total
							Institutions	funds
							2020	2020
Grant funding							666,863	666,863
Analysis	ofgrants
							Designated	Total
							funds	funds
							2021	2021
							6	6
Grants paid		to institutions	in the current year				328,756	328,756
Awards							10,093	10,093
Payments	to insStutions		supporting	the poor and pensioners	connected	with
the Tallow		Trade					950	950
Movement	in grant creditor						2,094	2,094
Total 2021							341,893	341,893
							Deignated	Total
							funds	funds
							2020f	2020 5
Grants paid		to institutions	in the current year				424,981	424,981
Awards							7,793	7,793
Payments	to ins6tutions		supporting	the poor and pensioners	connected	with
the Tallow		Trade					700	700
Movement	in grant creditor						233,389	233,389
Total 2020							666,863	666,863

Analysis ofgrants (continued)	Analysis ofgrants (continued)
The following institutions received grants ofF1,000or more:
		Grants to	Total
		institutions	funds
		2021	2021
		8	8
Cubitt Town Junior School		57,780	57,780
Greig City Academy		50,440	50,440
The Halley Academy		30,000	30,000
Bart's &Royal London School ofMedicine		17,500	17,500
Treloar Trust		15,000	15.000
Friends cfSt Paul's Cathedral		11,261	11,261
Federation ofLondon Youth Clubs		10,000	10,000
City &Guilds		10,000	10,000
Inta University		10,000	10,000
London Wildlife Trust		10,000	10,000
SOAS (SOAS and MW Beer Scholorship)		10,000	10,000
City ofLondon School for Girls		8,000	8,000
Guildhall School Trust		8,000	8,000
City ofLondon School for Boys		7,500	7,500
Reed's School		6,000	6,000
The Poppy Factory		6,000	6,000
City of London Volunteer Police Cadets		5,350	5,350
Bankside Open Spaces		5,000	5,000
Batemans Trust		5,000	5,000
King Edwards School		5,000	5,000
London Youth Support Trust - Launch	It	5,000	5,000
Lord Mayors Appeal		5,000	5,000
London's Air Ambulance		4,425	4,425
Clean Break		4,000	4,000
Cheny Trees		3,000	3,000
London Youth Choir		3,000	3,000
Talent Ed		3,000	3,000
The Creative Dimension		3,000	3,000
London Symphony Orchester		2,500	2,500
Southwark Sea Cadets		2,500	2,500
Innovations for Learning		2,000	2,000
Plafform Cricket TH Youth Support		2,000	2,000
Sheriffs and Recorders Fund		1,500	1,500
		328,756	328,756

		Restricted	Designated	Total
		funds	funds	funds
		2021 6	2021 f	2021 8
Grant funding		49,062	410,323	459,385
Governance	costs		6,780	6,760
Total 2021		49,062	417,103	466,165
		Restricted	Designated	Total
		funds	funds	funds
		2020	2020	2020
		F	6	8
Grant funding		232,782	538,562	771,344
Governance	costs		5,760	5,760
Total 2020		232,782	544,322	777,104

		Grant	Support	Total
		funding	costs	funds
		2021	2021	2021
		8	6	8
Grant funding		341,893	117,492	459,385
Governance	costs		6,780	6,780
Total 2021		341,893	124,272	466,165

						2021	2020
						6	6
Fees payable	to the Charity's	auditor		for the audit ofthe Charity's	annual
accounts						6,120	5,100
Fees payable	to the Charity's	auditor		in respect of:
All non-audit	services not included		above			660	660

	Listed	Cash for re-
	investments	investment	Total
	6	6	6
Cost orvaluation
At 6 April 2020	8,600,633	30,489	8,631,122
Additions	1,184,218		1,184,218
Disposals	(1,361,087)		(1,361,087)
Revaluations	2,626,735	293,984	2,920,719
At 5April 2021	11,050,499	324,473	11,374,972

		2021 6	2020 f
Due within one	year
Other debtors		213,111	194,749
Tax recoverable	(giR aid)	6,934	24,398
		220,045	219,147

forth 1*	e year ended 5April Creditors: Amounts	2021 falling due within one year
			2021	2020
			8	f'
	Accruals and deferred	income	7,680	6,960
	Grant commitments		444,358	412,593
			452,038	419,553
15.	Creditors: Amounts	faglng due after more than one year
			2021	2020
			5
	Grant commitments		70,825	100,496

				Under 1			Total
				year	Over	1year	funds
				2021 8		2021	2021f
Grant commitments		brought	forward	412,593	100,496		513,089
New commitments		entered	into in year	208,150	133,743		341,893
Grants paid	during	year		(339,799)			(339,799)
Total 2021				444,358		70,825	515,183
							Total
				Under 1 year	Over	1 year	funds
				2020		2020	2020
				F			5
Grant commitments		brought	forward	200,350		79,350	279,700
New commitments		entered	into in year	566,367	100,496		666,863
Grants paid	during	year		(433,474)			(433,474)
Commitments	now	due within one year		79,350	(79,350)
Total 2020				412,593	100,496		513,089

				Balance at6			Galnsl	Balance at 5
				April 2020	Income	Expenditure	(Losses)	April 2021
				E	E	E	E	E
Unrestricted		funds
Designated		funds		8,651,607	655,171	(449,316)	2,626,694	11,484,156
Restricted	funds
Restricted	fund		- FOSFA	2,840				2,840
Restricted	fund		- The Halley
Academy					49,062	(49,062)
				2,840	49,062	(49,062)		2,840
Total offunds				8,654,447	704,233	(498,378)	2,626,694	11,486,996
Statement	offunds - prior year
				Balance at			Gains/	Balance at
				6 April 2019	Income	Expenditure	(Losses)	5 April 2020
				E	E		E	E
Unrestricted		funds
Designated		funds		9,968,254	669,396	(586,379)	(1,399,664)	8,651,607
				Balance at			Gains/	Balance at
				6 April 2019	Income	Expenditure	(Losses)	5April 2020
				E	E	E	E
Restricted		funds
Restricted	fund		-FOSFA	2,840				2,840
Restricted	fund		-Ths Halley
Academy					232,782	(232,782)
				2,840	232,782	(232,782)		2,840
Total offunds				9,971,094	902,178	(819,161)	(1,399,664)	8,654,447

Summary	offunds - current ye	ar
		Balance at 6			Gains/	Balance at 5
		April 2020 6	Income f	Expenditure 6	(Losses) 6	April 2021 6
Designated	funds	8,651,607	655,171	(449,316)	2,626,694	11,484,156
Restricted	funds	2,840	49,062	(49,062)		2,840
		8,654,447	704,233	(498,378)	2,626,694	11,486,996
Summary	offunds - prior year
		Balance at			Gains/	Balance at
		6 April 2019f	Income	Expenditure 8	(Losses)	5 April 2020 2
Designated	funds	9,968,254	669,396	(586,379)	(1,399,664)	8,651,607
Restricted	funds	2,840	232,782	(232,782)		2,840
		9,971,094	902,178	(819,161)	(1,399,664)	8,654,447

	Analysis	of n	et assets	betwe	en funds -current year	en funds -current year
					Restricted		Designated	Total
						funds	funds	funds
						2021	2021	2021
						6		6
	Fixed asset investments						11,374,972	11,374,972
	Current assets					264,684	370,203	634,887
	Creditors	due within one year				(261,844)	(190,194)	(452,038)
	Creditors	due	in more than one year				(70,825)	(70,825)
	Total					2,840	11,484,156	11,486,996
	Analysis	ofnet assets		between funds - prior year
					Restricted		Designated	Total
						funds	funds	funds
						2020 6	2020f	2020
	Fixed asset investments						8,631,122	8,631,122
	Current assets					215,622	327,752	543,374
	Creditors	due	within one year			(212,782)	(206,771)	(419,553)
	Creditors	due	in more than one year				(100,496)	(100,496)
	Total					2,840	8,651,607	8,654,447
20.	Reconciliation		ofnet movement in funds to net cash flow from			operating	activities
							2021	2020
							6	6
	Net income/expenditure			for the year (as per Statement ofFinancial
	Activities)						2,832,549	(1,316,647)
	Adjustments		for:
	Gains/(losses)		on investments				(2,626,735)	1,401,798
	Dividends,	interests and rents			from investments		(311,736)	(329,557)
	Increase	in debtors					(898)	(130,815)
	Increase	in creditors					2,814	233,389
	Net cash	used in operating			activities		(104,006)	(141,832)