2022-04-05-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			2-6
Independent auditors'	report	on the financial statements	7-10
Statement offinancial	activities
Balance sheet			12
Statement ofcash flows			13
Notes to the financial	statements		14-30

Trustee		The Worshipful	Company	Company
Charity registered
number		246255
Principal office		Tallow Chsndlers'		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
		85 Queen Victoria		Street
		London
		EC4V 4AB

Balance she	et
as at 5April	2022
						2022		2021
				Note		6
Fixed assets
Investments				12		12,408,503		11,374,972
						12,408,503		11,374,972
Current assets
Debtors				13	330,666		220,045
Cash at bank	and in hand				88,788		414,842
					419,454		634,887
Creditors: amounts		falling	due within one
year				14	(307,819)		(452,038)
Net current	assets					111,635		182,849
Total assets	less current		liabilities			12,520,138		11,557,821
Creditors: amounts		falling	due after more
than one year				15		(99,000)		(70,825)
Net assets						12,421,138		11,486,996
Total net assets						12,421,138		11,486,996
Charity funds
Restricted funds				17		(53,724)		2,840
Unrestricted	funds			17		12,474,862		11,484,156
Total funds						12,421,138		11,486,996

for the year ended 5April	2022
			Restricted	Designated	Total	Total
			funds	funds	funds	funds
			2022	2022	2022	2021
		Note	6	6		E
Income from:
Donations and legacies			414,886	290,424	705,310	392,497
Investments				325,499	325,499	311,736
Total income			414,886	615,923	1,030,809	704,233
Expenditure on:
Raising funds		5		67,757	67,757	32,213
Charitable activities		8	471,450	524,876	996,326	466,165
Total expenditure			471,450	592,633	1,064,083	498,378
Net (expenditure)/income	before net
gains on investments			(56,564)	23,290	(33,274)	205,855
Net gains on investments				967,416	967,416	2,626,694
Net movement in funds			(56,564)	990,706	934,142	2,832,549
Reconciliation offunds:
Total funds brought forward			2,840	11,484,156	11,486,996	5,654,447
Net movement in funds		17	(56,564)	990,706	934,142	2,832,549
Total funds carried forward			(53,724)	12,474,862	12,421,138	11,486,996

Statement ofcash flows for the year ended 5April		2022
				2022	2021
				6
Cash flows from operating		activities
Net cash used in operating	activities			(585,438)	(104,006)
Cash flows from investing		activities
Dividends, interests and rents from investments				325,499	311,736
Proceeds from sale of investments				932,899	1,361,087
Purchase of investments				(1,294,196)	(1,184,218)
Net cash (used in)/provided		by investing	activities	(35,798)	488,605
Change in cash and cash		equivalents in	the year	(621,236)	384,599
Cash and cash equivalents		at the beginning	ofthe year	739,315	354,716
Cash and cash equivalents		at the end of	the year	118,079	739,315
The notes on pages 14to 30form part ofthese financial statements

					Restricted	Designated	Total
					funds	funds	funds
					2022 f	2022	2022
Donations from Liverymen	and	Freemen	(including	tax
recoveries)						111,134	111,134
Other donations					177,679	39,030	216,709
Donation from The Worshipful		Company	ofTallow	Chandlers	237,207	140,260	377,467
Total 2022					414,886	290,424	705,310
					Restricted	Designated	Total
					funds	funds	funds
					2021	2021 f	2021 8
Donations
Donations from Liverymen recoveries)	and	Freemen	(including	tax		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
Total donations					49,062	343,435	392,497
Total 2021					49,062	343,435	392,497

Designated	Total
funds	funds
2022	2022
305,352	305,352
20,147	20,147
325,499	325,499
Designated	Total
funds	funds
2021	2021
8
293,754	293,754
17,982	17,982
311,736	311,736

Investment management	costs
Support costs - raising	funds

Investment management	costs
Support costs - raising	funds

Designated	Total
funds	funds
2022	2022
48,851	48,851
18,906	18,906
67,757	6'7,757
Designated	Total
funds	funds
2021f	2021 6
12,689	12,689
19,524	19,524
32,213	32,213

Staff costs
Office costs
Premises costs
Professional	costs

Staff costs
Office costs
Premises costs
Professional	costs
Total 2021

Designated	Total
funds	funds
2022f	2022
13,860	13,860
2,794	2,794
2,099	2,099
153	153
18,906	18,906

Designated	Total
funds	funds
2021	2021
F
13,860	13,860
2,522	2,522
3,017	3,017
125	125
19,524	19,524

		Grants to	Total
		Institutions	funds
		2022	2022
			6
Grant	funding	866,377	866,377
		Grants to	Total
		Institutions	funds
		2021	2021
		5
Grant	funding	341,893	341,893

						Restricted	Designated	Total
						funds	funds	funds
						2022f	2022 6	2022 6
Grants paid		to institutions		in the current year		666,893	365,747	1,032,640
Awards							6,593	6,593
Payments	to institutions		supporting		the poor and pensioners
connected	with the Tallow			Trade			700	700
Movement		in grant creditor				(195,443)	21,887	(173,556)
Total 2022						471,450	394,927	866,377
						Restricted	Deignated	Total
						funds	funds	funds
						2021	2021f	2021 F
Grants paid		to institutions		in the current year			328,756	328,756
Awards							10,093	10,093
Payments	to institutions		supporting		the poor and pensioners
connected	with the Tallow			Trade			950	950
Movement		in grant creditor				49,062	(46,968)	2,094
Total 2021						49,062	292,831	341,893

		Grants to	Total
		Institutions	funds
		2022	2022
			6
The Halley Academy		698,893	696,893
Greig City Academy		45,000	45,000
Cubitt Town Junior School		42,326	42,326
Roots4Life		20,000	20,000
Bart's & Royal London School o	f Medicine	17,500	17,500
Treloar Trust		15,000	15,000
Friends ofSt Paul's Cathedral		11,496	11,496
It's Your Life		10,800	10,800
Into University		10,000	10,000
London Wildlife Trust		10,000	10,000
Reed's School		10,000	10,000
Manchester University		8,250	8,250
City of London School for Girls		8,000	8,000
Guildhall School Trust		8,000	8,000
City of London School for Boys		7,500	7,500
City ofLondon Volunteer Police	Cadets	7,500	7,500
The Poppy Factory		7,000	7,000
Tower Hamlets Opportunity		7,000	7,000
First Aid Nursing Yeomanry		6,000	6,000
Bankside Open Spaces Trust		5,000	5,000
Batemans Trust		5,000	5,000
King Edward's School		5,000	5,000
Lord Mayor's Appeal		5,000	5,000
London Youth Support Trust		5,000	5,000
Pan Livery- No Going Back		5,000	5,000
Kids Space		5,000	5,000
The Right Course		5,000	5,000
Relmagine		5,000	5,000
London's Air Ambulance		4,425	4,425
Clean Break Theatre Company		4,000	4,000
Cherry Trees		3,000	3,000
London Youth Choir		3,000	3,000
TalentEd		3,000	3,000
The Creative Dimension Trust		3,000	3,000
London Symphony Orchestra		2,500	2,500
Southwark Sea Cadets		2,500	2,500
Superbloom		2,500	2,500
Future Frontiers		2,000	2,000

Analysis ofgrants	(continued)
ABFThe Soldiers	Charity	2,000	2,000
XLPThe Excel Project		2,000	2,000
Switch		1,550	1,550
Sherifl's and Recorders Fund		1,500	1,500
Homers Company	Science Open Doors	1,400	1,400
Grants ofless than	f1,000 were made totalling	1,000	1,000
Total 2022		1,032,640	1,032,640

		Restricted	Designated	Total
		funds	funds	funds
		2022 6	2022 f	2022 6
Grant funding		471,450	517,086	988,538
Governance	costs		7,788	7,788
Total 2022		471,450	524,876	996,326
		Restricted	Designated	Total
		funds	funds	funds
		2021	2021	2021
				6
Grant funding		49,062	410,323	459,385
Governance	costs		6,780	6,780
Total2021		49,062	417,103	466,165

		Grant	Support	Total
		funding	costs	funds
		2022	2022	2022
Grant funding		866,377	122,161	988,538
Governance	costs		7,786	7,788
Total 2022		866,377	129,949	996,326
		Grant
		funding of	Support	Total
		activities	costs	funds
		2021	2021 f.'	2021 E
Grant funding		341,893	117,492	459,385
Governance	costs		6,780	6,780
Total2021		341,893	124,272	466,165
Analysis of	support costs
			Total	Total
			funds	funds
			2022f	2021
Staff costs			104,768	104,768
Office costs			2,794	2,523
Premises costs			6,296	9,052
Other costs			7,843	774
Professional	costs		460	375
Governance	costs		7,788	6,780
Total 2022			129,949	124,272

					2022	2021
Fees payable	to the Charity's	auditor	for the audit ofthe Charity's	annual
accounts					7,128	6,120
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 6	Total f
Cost or valuation
At 6 April	2021			11,050,499	324,473	11,374,972
Additions				1,294,196		1,294,196
Disposals				(932,899)		(932,899)
Revaluations				967,416	(295,182)	672,234
At 5 April	2022			12,379,212	29,291	12,408,503
Included	within the revaluation		gains on listed investments	are realised (losses)/gains of(575,676)(2021
-gain ofF52,727).
Debtors
					2022	2021
					6	F
Due within one year
Other debtors					324,082	213,111
Income tax recoverable		(gift aid)			6,584	6,934
					330,666	220,045

Creditors: Amounts	falling due within one year
		2022 6	2021f
Other creditors		56,564
Accruals and deferred	income	8,628	7,680
Grant commitments		242,627	444,358
		307,819	452,038

2022f	2021
99,000	70,825

					Under one	Over one	Total
					year	year	funds
					2022	2022	2022
Grant	commitments		brought	forward	444,358	70,825	515,183
New commitments			entered	into in year	767,376	99,000	866,376
Grants	paid	duding	year		(1,039,933)		(1,039,933)
Total	2022				242,626	99,000	341,626
					Under one	Over one	Total
					year	year	funds
					2021f	2021 E	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)
Commitments		now	due within one year		163,414	(163,414)
Total 2021					444,358	70,825	515,183

				Balance at6			Gains/	Balance at 5
				April 2021	Income	Expenditure	(Losses)	April 2022
				6	6		E	8
Unrestricted		funds
Designated		funds		11,484,156	615,923	(592,633)	967,416	12,474,862
Restricted	funds
Restricted	fund - FOSFA			2,840				2,840
Restricted	fund - The		Halley
Academy					414,886	(471,450)		(56,564)
				2,840	414,886	(471,450)		(53,724)
Total offunds				11,486,996	1,030,809	(1,064,083)	967,416	12,421,138
Statement	offunds		-prior year
				Balance at			Gains/	Balance at
				6 April 2020 f	Income E	Expenditure E	(Losses)	5 April 2021 8
Unrestricted		funds
Designated		funds		8,651,607	655,171	(449,316)	2,626,694	11,484,156
				Balance at			Gains/	Balance at
				6 April 2020	Income	Expenditure	(Losses)	5April 2021
				E		F	K	6
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

to the financial statements year ended 5April 2022 Analysis of net assets between funds Analysis of net assets between funds - current	year
	Restricted	Designated	Total
	funds	funds	funds
	2022 6	2022	2022f
Fixed asset investments		12,408,503	12,408,503
Current assets	193,968	225,486	419,454
Creditors due within one year	(247,692)	(60,127)	(307,819)
Creditors due in more than one year		(99,000)	(99,000)
Total	(53,724)	12,474,862	12,421,138

Analysis of net assets between funds -prior ye	ar
	Restricted	Designated	Total
	funds	funds	funds
	2021	2021f	2021
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)
	2,840	11,484,156	11,486,996

Reconciliation ofnet move	ment in funds to net cas	h flow from opera	ting activities
			2022f	2021 6
Net income for the year (as	per Statement of Financial	Activities)	934,142	2,832,549
Adjustments for:
Gains on investments			(967,416)	(2,626,735)
Dividends and interest from	investments		(325,499)	(311,736)
Increase in debtors			(110,621)	(898)
(Decrease)/increase in creditors			(116,044)	2,814
Net cash used in operating	activities		(585,438)	(104,006)

			2022	2021
			6
Cash	in hand		88,788	414,842
Investment		cash	29,291	324,473
Total	cash	and cash equivalents	118,079	739,315