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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|||
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|
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|||||
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|||||||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|
##
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##
||||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|
##
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|||||||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|
##
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##
|||||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|
##
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||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)|
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