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##
||||Page|
|---|---|---|---|
|Reference and adminisfrative||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 Chandlers'||Hall||
|||4 Dowgate
Hill||||
|||London||||
|||EC4R 2SH||||
|Independent|auditors|Kreslon Reeves|LLP|||
|||Chartered
Accountants||||
|||Springfield
House||||
|||Springfield
Road||||
|||Horsham||||
|||West Sussex||||
|||RH12 2RG||||
|Bankers||Coutls &Co||||
|||440 Strand||||
|||London||||
|||WC2R OQS||||
|Investment|managers|Quilter Cheviot|Limited|||
|||Senator House||||
|||85 Queen Victoria||Street||
|||London||||
|||EC4V 4AB||||
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|for the year en|de|d|5 April|2023||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||Restricted|Designated|Total|Total|
|||||||funds|funds|funds|funds|
||||||Note|2023
6|2023
f|2023
6|2022
E|
|Income from:||||||||||
|Donations
and|legacies||||4|35,802|520,047|555,849|705,310|
|Investments|||||5||357,471|357,471|325,499|
|Total income||||||35,802|877,518|913,320|1,030,809|
|Expenditure
on:||||||||||
|Raising funds|||||||70,135|70,135|67,757|
|Charitable
activities|||||||548,522|548,522|996,326|
|Total expenditure|||||||618,657|618,657|1,064,083|
|Net income/(expenditure)||||before net||||||
|(losses)/gains||on investments||||35,802|258,861|294,663|(33,274)|
|Net (losses)/gains|||on investments||||(1,311,639)|(1,311,639)|967,416|
|Total transfers||||||||||
|Net movement|in||funds|||35,802|(1,052,778)|(1,016,976)|934,142|
|Reconciliation|of||funds:|||||||
|Total funds brought|||forward|||(53,724)|12,474,862|12,421,138|11,486,996|
|Net movement|in|funds||||35,802|(1,052,778)|(1,016,976)|934,142|
|Total funds carried forward||||||(17,922)|11,422,084|11,404,162|12,421,138|
##
|Balance sheet
as at 5April 2023|||||||
|---|---|---|---|---|---|---|
|||||2023||2022|
|||Note||8|||
|Fixed assets|||||||
|Investments||12||11,322,966||12,408,503|
|||||11,322,966||12,408,503|
|Current assets|||||||
|Debtors||13|179,735||330,666||
|Cash at bank and in hand|||248,824||88,788||
||||428,559||419,454||
|Creditors: amounts|falling due within one||||||
|year||14|(232,026)||(307,819)||
|Net current assets||||196,533||111,635|
|Total assets less current liabilities||||11,519,499||12,520,138|
|Creditors: amounts|falling due after more||||||
|than one year||15||(115,337)||(99,000)|
|Net assets||||11,404,162||12,421,138|
|7'otal net assets||||11,404,162||12,421,138|
|Charity funds|||||||
|Restricted funds||17||(17,922)||(53,724)|
|Unrestricted
funds||17||11,422,084||12,474,862|
|Total funds||||11,404,162||12,421,138|
##
##
|Statement ofcash flows
forthe year ended 5April|2023||||
|---|---|---|---|---|
||||2023|2022|
|||||6|
|Cash flows from operating|activities||||
|Net cash used
in operating|activities||28,667|(585,438)|
|Cash flows from investing|activities||||
|Dividends,
interests and rents from investments|||357,471|325,499|
|Proceeds from sale ofinvestments|||1,304,168|932,899|
|Purchase ofinvestments|||(978,232)|(1,294,196)|
|Net cash provided
by/(used
in) investing||activities|683,407|(35,798)|
|Change
in cash and cash|equivalents
in|the year|712,074|(621,236)|
|Cash and cash equivalents|at the beginning|ofthe year|118,079|739315|
|Cash and cash equivalents|at the end of|the year|830,153|118,079|
|The notes on pages 14to 30form part ofthese financial statements|||||
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||||||Restricted|Designated|Total|
|---|---|---|---|---|---|---|---|
||||||funds|funds|funds|
||||||2023|2023|2023|
||||||6|6|5|
|Donations
from Liverymen|and|Freemen|(including|tax||||
|recoveries)||||||111,723|111,723|
|Other donations|||||35,802|293,403|329,205|
|Donation
from The Worshipful||Company|of Tallow|Chandlers||114,921|114,921|
|Total 2023|||||35,802|520,047|555,849|
||||||Restricted|Designated|Total|
||||||funds|funds|funds|
||||||2022
f|2022
5|2022
f|
|Donations||||||||
|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 donations|||||414,886|290,424|705,310|
|Total 2022|||||414,886|290,424|705,310|
##
##
||Designated|Total|
|---|---|---|
||funds|funds|
||2023|2023f|
|Dividends|322,963|322,963|
|Interest|34,508|34,508|
|Total 2023|357,471|357,471|
||Designated|Total|
||funds|funds|
||2022|2022|
||5|8|
|Dividends|305,352|305,352|
|Interest|20,147|20,147|
|Total 2022|325,499|325,499|
##
##
||||Designated|Total|
|---|---|---|---|---|
||||funds|funds|
||||2023|2023|
||||6|R|
|Investment|management|costs|48,170|48,170|
|Support costs - raising||funds|21,965|21,965|
|Total 2023|||70,135|70,135|
||||Designated|Total|
||||funds|funds|
||||2022|2022|
|||||8|
|Investment|management|costs|48,851|48,851|
|Support costs - raising||funds|18,906|18,906|
|Total 2022|||67,757|67,757|
|Analysis|ofsupport costs||||
|||Designated|Total|
|---|---|---|---|
|||funds|funds|
|||2023f|2023
R|
|Staff costs||15,531|15,531|
|Office costs||3,217|3,217|
|Premises costs||3,057|3,057|
|Professional|costs|160|160|
|Total 2023||21,965|21,965|
|||Designated|Total|
|||funds|funds|
|||2022
8|2022f|
|Staff costs||13,860|13,860|
|Office costs||2,794|2,794|
|Premises costs||2,099|2,099|
|Professional|costs|153|153|
|Total 2022||18,906|18,906|
##
||||||||Grants to|Total|
|---|---|---|---|---|---|---|---|---|
||||||||Institutions|funds|
||||||||2023|2023|
|||||||||6|
|Grant funding|||||||393,967|393,967|
||||||||Grants to|Total|
||||||||Institutions|funds|
||||||||2022f|2022|
|Grant funding|||||||866,377|866,377|
|Analysis|ofgrants||||||||
|||||||Restricted|Designated|Total|
|||||||funds|funds|funds|
|||||||2023|2023|2023|
|||||||6|6|6|
|Grants paid||to institutions|in the current year|||62,974|350,426|413,400|
|Awards|||||||5,893|5,893|
|Payments|to institutions||supporting||the poor and pensioners||||
|connected||with the Tallow||Trade|||700|700|
|Movement||in grant creditor||||(62,974)|36,948|(26,026)|
|Total 2023|||||||393,967|393,967|
|||||||Restricted|Designated|Total|
|||||||funds|funds|funds|
|||||||2022|2022|2022|
|||||||||F|
|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)|
|Total202|2|||||471,450|394,927|866,377|
##
##
##
||||Grants to|Total|
|---|---|---|---|---|
||||Institutions|funds|
||||2023|2023|
|||||8|
|The Halley Academy|||92,974|92,974|
|Cubitt Town Junior School|||45,070|45,070|
|Greig City Academy|||39,500|39,500|
|Bart's 8 Royal London School o
fMedicine|||22,500|22,500|
|St Paul's Cathedral
Chorister Tr||ust and Friends ofSt Paul's Cathedral|11,837|11,837|
|It's Your Life|||10,800|10,800|
|London Wildlife Trust|||10,000|10,000|
|Into University|||10,000|10,000|
|Blossoms London|||8,400|8,400|
|Reed's School|||8,000|8,000|
|City of London School for Girls|||8,000|8,000|
|Guildhall
School Trust|||8,000|8,000|
|City of London Volunteer|Police|Cadets|7,500|7,500|
|The Poppy Factory|||7,000|7,000|
|Manchester
University|||6,600|6,600|
|Bankside Open Spaces|Trust||6,500|6,500|
|First Aid Nursing
Yeomanry|||6,000|6,000|
|King Edward's
School|||6,000|6,000|
|Lord Mayor's Appeal|||5,000|5,000|
|Kids Space|||5,000|5,000|
|London Youth Choir|||5,000|5,000|
|TalentEd|||5,000|5,000|
|Batemans Trust|||5,000|5,000|
|CPotential
Trust|||5,000|5,000|
|Highlights|||5,000|5,000|
|North
London
Hill Club|||5,000|5,000|
|FOSFA|||5,000|5,000|
|London's
Air Ambulance|||4,425|4,425|
|Clean Break Theatre Company|||4,000|4,000|
|London Symphony
Orchestra|||4,000|4,000|
|Switch|||4,000|4,000|
|Ellen McArthur Cancer Trust|||3,294|3,294|
|Cherry Trees|||3,000|3,000|
|The Creative Dimension|Trust||3,000|3,000|
|Ahoy Centre|||3,000|3,000|
|Helping
Disabilities|||3,000|3,000|
|Turkey Syria Disaster|||2,500|2,500|
|Future Frontiers|||2,000|2,000|
##
|to the financial statements
year ended 5 April 2023|||
|---|---|---|
|Analysis
ofgrants (continued)|||
|Sheriffs and Recorders Fund|2,000|2,000|
|Miracles|2,000|2,000|
|Believe UK|2,000|2,000|
|Girls Friendly Society|2,000|2,000|
|Plafform
Cricket TH Youth Support|2,000|2,000|
|Youth Futures|2,000|2,000|
|Homers Company Science Open Doors|1,400|1,400|
|Level Water|1,000|1,000|
|British Red Cross Ukraine appeal|1,000|1,000|
|Grants ofless than F1,000 were made totalling|2,100|2,100|
|Total2023|413,400|413,400|
|||Designated||
|---|---|---|---|
|||funds|Total|
|||2023|2023|
|||8|6|
|Grant funding||537,582|537,582|
|Support costs||10,940|10,940|
|||548,522|548,522|
||Restricted|Designated||
||funds|funds|Total|
||2022|2022
f|2022
f|
|Grant funding|471,450|517,088|986,538|
|Support costs||7,788|7,788|
||471,450|524,876|996,326|
##
##
##
|||Grant|Support|Total|
|---|---|---|---|---|
|||funding|costs|funds|
|||2023|2023|2023|
||||6||
|Grant funding||393,967|143,615|537,582|
|Governance|costs||10,940|10,940|
|Total 2023||393,967|154,555|548,522|
|||Grant|||
|||funding
of|Support|Total|
|||activities|costs|funds|
|||2022f|2022f|2022f|
|Grant funding||866,377|122,161|988,538|
|Governance|costs||7,788|7,788|
|Total 2022||866,377|129,949|996,326|
|Analysis of|support costs||||
||||Total|Total|
||||funds|funds|
||||2023f|2022
F|
|Staff costs|||115,430|104,768|
|Office costs|||3,217|2,794|
|Premises costs|||9,171|6,296|
|Other costs|||15,316|7,843|
|Professional|costs||481|460|
|Governance|costs||10,940|7,788|
|Total 2023|||154,555|129,949|
##
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|||||||2023|2022|
|---|---|---|---|---|---|---|---|
||||||||6|
|Fees payable|to the Charity's|auditor||for the audit ofthe Charity's|annual|||
|accounts||||||10,260|7,128|
|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
f|investment
6|Total|
|Cost or valuation||||
|At 6 April 2022|12,379,212|29,291|12,408,503|
|Additions|978,232|552,038|1,530,270|
|Disposals|(1,304,168)||(1,304,168)|
|Revaluations|(1,311,639)||(1,311,639)|
|At 5 April 2023|10,741,637|581,329|11,322,966|
##
##
|||2023|2022f|
|---|---|---|---|
|Due within one year||||
|Other debtors||170,734|324,082|
|Income tax recoverable|(gift aid)|9,001|6,584|
|||179,735|330,666|
##
##
|||2023|2022|
|---|---|---|---|
|||6||
|Other creditors||20,762|56,564|
|Accruals and deferred|income|11,000|8,628|
|Grant commitments||200,264|242,627|
|||232,026|307,819|
##
##
##
|2023f|2022|
|---|---|
|115,337|99,000|
##
##
|||||Under one|Over one|Total|
|---|---|---|---|---|---|---|
|||||year|year|funds|
|||||2023|2023|2023|
|Grant commitments||brought|forward|242,626|99,000|341,626|
|New commitments||entered|into in year|278,631|115,337|393,968|
|Grants paid|during|year||(419,993)||(419,993)|
|Commitments|now|due within one year||99,000|(99,000)||
|Total 2023||||200,264|115,337|315,601|
|||||Under one|Over one|Total|
|||||year|year|funds|
|||||2022|2022|2022|
|||||6|5|F|
|Grant commitments||brought|forward|444,358|70,825|515,183|
|New commitments||entered|into in year|767,376|99,000|866,376|
|Grants paid|during|year||(1,039,933)||(1,039,933)|
|Commitments|now|due within one year||70,825|(70,825)||
|Total2022||||242,626|99,000|341,626|
##
##
||||Balance at 6|||Gains/|Balance at 5|
|---|---|---|---|---|---|---|---|
||||April 2022|Income|Expenditure|(Losses)|April 2023|
||||E|E|E|E|E|
|Unrestricted||funds||||||
|Designated||funds|12,4'74,862|877,518|(618,657)|(1,311,639)|11,422,084|
|Restricted|funds|||||||
|Restricted|fund - FOSFA||2,840||||2,840|
|Restricted|fund - The Halley|||||||
|Academy|||(56,564)|35,802|||(20,762)|
||||(53,724)|35,802|||(17,922)|
|Total offunds|||12,421,138|913,320|(618,657)|(1,311,639)|11,404,162|
|Statement|offunds - prior year|||||||
||||Balance at|||Gains/|Balance at|
||||6 April 2021|Income|Expenditure|(Losses)|5Apdl 2022|
||||E|E|E|E|E|
|Unrestricted||funds||||||
|Designated||funds|11,484,156|615,923|(592,633)|967,416|12,474,862|
||||Balance at|||Gains/|Balance at|
||||6 April 2021|Income|Expenditure|(Losses)|5April 2022|
||||E||E||E|
|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|
##
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##
|Analysis of n|et assets between funds - current year||||
|---|---|---|---|---|
|||Restricted|Designated|Total|
|||funds|funds|funds|
|||2023|2023|2023|
||||6|6|
|Fixed asset investments|||11,322,966|11,322,966|
|Current assets||125,934|302,625|428,559|
|Creditors due|within one year|(143,856)|(88,170)|(232,026)|
|Creditors due|in more than one year||(115,337)|(115,337)|
|Total||(17,922)|11,422,084|11,404,162|
|Analysis of net assets between funds - prior year|||||
|||Restricted|Designated|Total|
|||funds|funds|funds|
|||2022
8|2022
5|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)|
|l||(53,724)|12,474,862|12,421,138|
##
||||||2023f|2022|
|---|---|---|---|---|---|---|
|Nei income/expenditure||for the year (as per||Statement of Financial|||
|Activities)|||||(1,016,976)|934,142|
|Adjustments
for:|||||||
|Gains on investments|||||1,311,639|(967,416)|
|Dividends
and interest||from investments|||(357,471)|(325,499)|
|Decrease/(increase)|in|debtors|||150,931|(110,621)|
|Increase/(decrease)|in|creditors|||(59,456)|(116,044)|
|Net cash provided|by/(used||in) operating|activities|28,667|(585,438)|
##
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