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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|ofTallow Chandlers|
|---|---|---|---|---|---|
|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||||
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|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|
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|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||||||
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||||||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|
##
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|Investment
management|costs|
|---|---|
|Support costs - raising|funds|
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|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|
##
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|||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|
##
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|||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|
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||||||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|
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|||||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|
##
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|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|
##
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|||||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|
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|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|
##
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|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)|
##
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||||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|
##
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