REGISYERED CHARITY NUMBER: 246639
REPORT OFTHE TRUSTEES AND
UNAUDITED FINANCIAL STATÉMENTS
OR THE PERIOD I NOVEM
ER 2022
0310
BER 20
THEWOR5HIPFULCOMPANYOF FO
SEXCENTENARY APP
FUND
NDERS

THE WORSHIPFUL COMPANY OF FOUNDERS
SEXCENTENARY APPEAL FUND
NTS oFT￿E FINANCIAL
FOR THE PE
IOD I NOVEMBER2
TEMENTS
22 TO 31 ocfoBER 2023
Page
Report of the Trustees
Independent Examlnerf5 Report
Statement of Financlal A¢iivities
Statement of Flnancial Posltlon
Notè5to the Financial Statements
8 to 13
Oetalled Statement ot Financlal Artfvities
14 to 15

THE WORSHIPFUL COMPANY OF FOUNDERS
EXCENTENARY APPEAL FUND
REPORT
FOR THE P
FTHETR
STEE
RIOD I NOVEM
ER 2022 TO 31 ocfoBER 2023
Thetrustees presenttheir report with the financial statements of the charity forthe period l November2022 to 31 Ottober
2023. The trustees have adopted the provisions of Accounting and Reporting by Chartties.. Statement of Recommended
Practice applicable to charities preparing their accounts in accordance wlth the Financial Reportin8 Standard applicable in
the UK and Republic of Ireland IFRS 1021 (effective l January 20151.
08JEcllvESAND AcnvinES
Oblectives and alms
The charity was established wtih monies subscribed by the rneMbe￿ of The Wotshipful Company of Founder5 to celebrate
the 600th anniversary of the establishment of the Company. The objects were and remain for the benefit of any charitable
or educational object including the relief and care of the elderly, the education of the youn& and the advancement of
technical and artistic education and research.
Under a Heads of Agreementdated 19 March 2020 the assets held by the 8runel Centreof Bedford Limited were transferred
to the Company as trustee forthesexcentenary Fund. The objects of thegrantWe￿t0 advance the thèoretical and practical
education and training of persons engaged or intending to be engaged in industry and commerce. and. subjett to that. to
extend such provision or assistance to the trnining or education of members of the public 8enerally. Awards made out of
Its funds are to be referred to as Founders Brunel Awards.
The income frorn these transferred assets are accounted for as a designated fvnd.
The tmstees confirm that they have referred to the guidance contained in the Charity Commission'5 general guidance on
public benefit when reviewin8 the Trust's aims and objettives and In planningfuture activities and settingthe 8rant makin8
policy forthe year.
Slgnificant attivit5e$
Investment Fund- Non Endowed fund on l April 1996.
The charity receives a share of the net income of the fund arisin8 in the period and ownsthe net assets in proportion to the
market value of the investments at l April 1996 and any subsequent capltal contributions to that fund.
The fund's share of the unrestricted income and net assets on this inf(ial contribution for the year was 76.343%12022
76.343%).
During 2019120. the charity acquired the assets of Brunel Centre of Bedford knrnited. a charity whose chartsble objetts
includethe vocational and educational training of young people in the wider engineerin8 industry. The assets acquired were
comprised of cash funds totalling £1.795m and two freehold properties, being the former charities principal trnining centre
and charity offices located in Bedford.
The principal training centre will continue to be leased by Bedford College in accordance with the ex¢sting lease and the
offices are now let to a commercial tenant. The rent received will be applied in Ilne with the objects of the grant stated
above.
Of the funds received from the Brunel Centre, £1,750,000 wa5 transferred to The Founders Cornbined Charlty Common
Investment Fund. of which 100% of incorne received in relation to the investing actlvities of these funds, is directly
attributsble to the charity.
Page I

THEWORSHIPFULCOMPANYOFFO
EXCENTENARY APPEAL FUND
NDERS
ORTOFTHETR
EES
FOR THE PERIOD I NOVEMBER 2021 TO 31 o￿oBER 2023
FINANCIAL REVIEW
Reserves poll¢y
It is the poliry ofithe charitythat unrestritted funds which are ￿adIlY available forspending and have not been designated
for a specific use should be rnaintained at a level between six and twelve months, expenditure. The trustee considers that
reserves at this level will ensure that, in the event of a significant drop in funding, it will be able to continue the charitls
current activities while consideration is given to ways in which additional funds may be raised. At 31 October 2023 the
charity held £230K. These levels are above the target range. The trustee intends to manage its expenditure to brin8 the
reserves in line wtth the target range over the comin8 5 years.
5fRucfuRE, GOVERNANCE AND MANAGEMENT
Governlng document
The charity Is controlled by ￿S governlng document. a deed of trust and constitute5 an unincorporated charity.
The trustees have paid due regard to guldance issued by the Charity Cornrnisslon in declding what activities the charity
Should undertake.
Decislon rnaklng
The trustee and the 8overnin8 body meet quarterly. The Charity and Education Commtttees of the Worshipful Company of
Founders also rneet quarterly and agree the broad strategy and areas of activity for the Trust, includin8 consideration of
grant rnakin8, investment. reserves and risk managetnent, policies and performance. The day-to-day administration of
8rants and the processing and handling of new grant applications prior to consideration by the Charity and Education
Cotnmittees is dele8ated to the Clerk of the Cornpany. The Charity and Education Comrnittees subsequently make
recomrnendations for appropriate grant funding to the Court for its final approval.
The Charity and, Educatlon Cornmittee5 also con5&derthe monitorSng information concerning the performance of grants to
date, and make recommendations to the Court concerning the extension, cessation or suspension of existing grant
approvals.
Trustees are required to disclose all relevant interests and reglsterthem wr(h the Clerk and if appropriate to wtihdrawfrom
decisions where a conflict of Inte￿5t arises.
Risk management
Thetrustees have consideTed the major risks to which the charity is exposed and have reviewed those risk5 and established
systems and prO￿dureS to TTianage those risks.
The trustees consider variabilty of investment retum5 on the charitable assets to constitute the charity's major financlal
risk and recent extreme volatilty in world stock rnarkets has demonstrated this risk. The trustees manage the assets on a
medium risk basis of income 8eneration and capital growth. thereby maintaining stabilrty for grant making, and hopefully
thereby facilitating lon8er term 8rants and a rnore stable"nurnber of awards, but the trustee5 also take account of the
outlook for investrnent returns and keep the level of awards under review.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity numl)er
246639
Page 2

THE WORSHIPFUL COMPANY OF F
EXCENTENARY APPEAL FUND
UNDERS
PORT OF THETRU
FOR THE PERIOD I NOVEMBER 2021 TO 31 OCTOBER 2023
Principal address
Founders, Hall
I Cloth Fair
London
ECIA 7JQ
Trustees
The trustee of the charity is The Worshipful Company of Founders.
The Master. Wardens and Court of Assistants ofThe Worshipful Company of Fotjnders comprise the goveming body.
Both the Court, which consists of the goveming body and the Charity Cornrnittee rneet quarterly. The Charity Committee
reporrs and make5 recommendations to the Courtfor its final 3pprov81.
Independent Examiner
Comfield Accountants Limited
Charrered Accountants
S Cornfield Terrace
Eastboume
East Sussex
BN214NN
STATEMENT OF TRusfEES' RESPONSI8ILmES
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance wlth
applicable law and United Kingdorn Accounting Standards Iunited Kin8dom Generally Accepted Accounting p￿CtIce1.
The law applicable to chaTlties in England and Wales. the Charities Att 2011. Charity IAccounts and Reports) RegulatSons
2008 and the provi5i0ns of the trust deed requires thetrustees to prepare financial statements for each financial year which
give 8 true and.fair view of the State of affairs of the charity and of the incoming resources and application of resources.
including the in¢ome and expenditure. of the charity for that period. In preparin8 those fsnancial statements. the trustees
are required to i
select suitable accounting policies and then apply them consistently,.
observe the methods and principles in the Charity SORP.,
make judgernents and estimates that are reasonable and prudent,.
prepare the finaneial statement5 on the going concern basis unless ft is inapproprlate to p￿5￿Me that the charfty will
continue in buslness.
The trustees are responsible for keepin6 properaccounting records which disclose with reasonable accuracy at any time the
financial position of the charty and to enable them to ensure that the financial statements comply with the Charities Att
2011. the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible
for safeguarding the assets of the charity and hence for tsking reasonable steps for the prevention and detection of fraud
and other irregularities.
Page 3

THE WORSHIPFUL
MPANYOF F
SEXCENTENARY APPEAL FUND
NDER
REPO
TOFTH
Tru
FOR THE PERIOD I NOV
MBER 2022 TO
OCTOBER 2023
Approved by orderof the board of trustees on...........
and signed on its behalf bv..
Master
Clerk
Page 4

INDEPENDENT EXAMINER'S REPORTTO TH
THE WORSHIPF
LCOMPANYOF FOUNDE
SEXCENTENARY APPEAL FUND
TRU5tEES OF
ndependent examiner's report to the twstees ofThe Worshiptul Company of Foundttssexcentenary Appeal Fund
I report to the charity trustees on my examination of the accounts of The Worshipftjl Company of Founder5 Sexcentenary
Appeal Fund Ithe Trust) for the period l November 2022 to 31 October 2023.
Responsibilitles and ba$15 of report
As the charity trustees of the Trust you are responsible for the preparation of the accoLgnts In accordance with the
reouirernents of the Charities Act 20111.the Act'l.
I report in respect of my exarnination of the Trust's accounts carried out undersettion 145 of theAct and in carryin8OUt mv
examination I have followed all applic8ble Directions given bythe Charity Cornmission under settion 14515llbl of the Aet.
Independent examiner's statement
I have completed my examlnation. I confirm that no material matters have come to my attention in connection with the
examination giving rne cause to believe that in any material respect..
accountipg records were not kept in respect of the Trust as required by sectlon 130 of the Act,. or
the accounts do not accord with those records,. or
the accounts do not eomply with the applicable requirernents concerning the form and content of accounts set out
in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true
and fair view which i5 not a rnatter considered as part of an Independent examination.
I have no concems and have come across no other matters in connettion whh the examsnation to which 8ttentlon should
be drawn in this report in orderto enable a proper understanding of the accounts to be reached.
A L Breeze FCA
Cornfield Accountants Limited
Chartered Accountants
5 Cornfield Terrace
Eastbourne
East Sussex
8N214NN
Date..
Pa8e 5

ThEWORSHIPFULCOMPANYOF FO
SEXCENTENARY APPEAL FUND
NOERS
STAT
MENT
F FINA
FOR THE PERIOD I N
aALA
Ivm
VEMBER 2022 TO 31
roBER 2023
PERIOD
01111122
TO
31110123
Unrestricted
funds
PERIOD
26110121
TO
31110122
Total
funds
Notes
INCOME AND ENDOWMEMfs FROM
Donations
Investments
2,500
125,411
106,708
Totsi
127.911
106.708
EXPENDITURE ON
Charltable artivitles
Grants payable to individuals
Grant5 payable to institutions
John Warner School
Talks. Lectures and Exhibitions
8runel Properties
6,300
21,700
11,718
28,871
1,309
10.969
Other
8.728
17,925
Total
60,286
47.234
Net galns / Ilosse51 on investments
NÉT INCOME
161.9001
157.6881
RECONCILIATION OF FUNDS
Total funds brought forward
5.039,954
5,097.642
TOTAL FUNDS CARRIED FORWARD
4.798,054
5,039.9S4
The notes form part of these financial 5tstements
Page 6

THE WORSHIPF
LCOMPANYOF FO
SEXCENTENARY APPEAL FUND
NDERS
STAT
MENT OFIFI
31 ocr
BER 2023
NCI
POSITION
2023
Unrestricted
funds
2022
Total
funds
Notes
FIXED ASSETS
Investments
Investments
Investrnent property
2,042.461
2.720,000
2.171,986
2,720.000
4,762,461
4,891.986
CLIRRENT ASSETS
Debtors
Cash at bank
38.677
229.110
115,055
69,253
267.787
184,308
CREDrroRS
Arnounts falling due within one year
152.1941
136.3401
NET CURRENT ASSETS
215.593
147.968
TOTALASSETS LESS CURRÉNT LIABIUTIES
4,978.OS4
5,039,954
NET ASSETS
4.978,054
5.039,954
FUNDS
Unrestricted fund5
4,978.054
5,039.954
TOTAL FUNDS
4,978.054
5,039.954
The fin
and
ial statements were ap
igned on its
roved by the Board tsf Trustee5 and authortsed for Issue on .......
re
The Worshipful Company of Founders 4Upper Warden
The Worshipful Company of Founders- Underwarden
The notes form part of these financlal Statements
Page 7

THE WORSHIPFULCOMPANV OF FOUNDÉ
EXCENTENARY APPEAL FUND
HE FINANCIAL
TATEMENTS
FOR THE PERIOD I NOVEMBER 2022 TO 31 ocfoBER 2023
ACCOUNTING POLICIE5
Basis,of preparing the finan¢ial Statements
The financial statements of the charfty. which is a public benefit entr(y under FRS 102, have been prepared in
accordance wlth the Charities SORP IFRS 1021'Accounting and Reporting by Chartties-. Staternent of Recommended
Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191., Financial Reporting Standard 102
'The Financial Reporting Standard applicable in the UK and Republic of Ireland. and the Charities Act 2011. The
financial statement5 have been prepared under the historical cost convention, with the exception of investments
which are included at market value. as modified by the revaluation of certain assets.
Critl¢al accountinglud8ements and key sour￿5 of e5tlmation vn¢èrta5nty
In the application of the Charity's accountin8 policies. n7ana8ernent is requlred to make judgements. estlmates and
assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The
estimates are underlying assurnptions and are based on historieal experience and other fattors that are considered
relevant. Actual resuhs May differfrom these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are
recognised in the period in which the estimate is revised if the revision affects only that period. or Sn the period of
the revision and future periods if the revislon affects both current and future periods.
The key sources of estimation uneertainty that have a significant effect on the amounts recognised in the financi81
statements as described below..
Inv
stmen
ro
valua
Investment properties are valued under the fair value Method. Professional valuations are sought to justify the fair
valueof the property within the financial statements.
Income
All income is reeognised in the Statement of Financial Artivities once the charity ha5 entitlement to the fuTrds, It
probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised 8$ expenditure a5 soon as there is a legal or constructive obligation committlng the charity
tothat expenditure. it is probablethat a transferof economic benefits will be required in settlementand theamount
of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified
under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to
particular headings they have been allocated to activities on a basis consistent wlth the use of ￿SOurCes.
Grants offered subject to conditions which have not been met at the yearend date are noted35 a commitment but
ot accrued as expenditure.
Allocation ond apportionment of costs
The Charity's operating costs include professional fees, adrninistration costs and other related costs. Such costs are
directly allocated to the Support function of the Charity.
Grants made by the Charity to individuals and institutions are allocated to Charitable attivities.
Pa8e 8
continued...

ThE WORSHIPFUL COMPANY OF FOUNDERS
SEXCENTENARY APPEAL FUND
NOTE
OTHEF
NANCIALSTAT
MENTS- tontin
FOR THE PERIOD I NOVEMBER 20
2 TO 31 OCTOBER 2023
ACCOUNTING POLICIES- contlnuèd
Imiestment property
Investment property is shown at most recent valuation. Anyaggregate surplus or defictt ari5in£ from changes in falr
value is recognised in the Statement of Financial Attivities.
T3xotltrn
The charity is exempt from tax on its charStable actSvities.
Fund accounting
Unrestricted funds can be used in accordance wlth the charitable objertives at the discretion of the trustees.
Snvestments
Fixed asset investments are stated at market ￿lUe. Market value is calculated a5 the charty's share of the net assets
of The Founders Combined Ch3rity Income Common Investment Fund. The charity'5 share is calculated in proportion
to the market value of the investments transferred at l April 1996 and any subsequent capital contributions.
Cash and cash equlvalents
Cash and cash equivalents comprise cash on hand and other shon term highly liquid inve5trnents that are readilv
eonvertlble to a known amount of cash and are subject to an insignificant risk to changes in value.
DONATIONS
£2,500 was received from the Robert Clutterbuck Charitable Trust, Contributing to the sixth form scholarships
awarded to pupils studying STEM subjects at the John Wamer School.
INVESTMENT INCOME
PERIOD
01111122
TO
31110123
PERIOD
26110121
TO
31110122
Rents and related income received
Founders Cornbined Charity Income CIF
77.225
48.186
73,533
33,175
125.411
106,708
The financial ststernents include net income from investments managed by Charles Stsnley. which 15 distributed to
the Charity.
Pa8e 9
continued...

THE WORSHIPFUL COMPANY
SEXCENTENARY APPEAL FUND
F FOUNDERS
TEST
THE FINANCI
STATEMEN
. tontinued
FOR THE PERIOD I NOVEMBER 2022 TO 31
OBER 2023
TRU5fEES' REMUNERATION AND BENEFITS
During the period the charity paid £7.23212022- £4.2531 to its trustee, the Worshipfvl Company of Founders, for
administrative and management support.
No person5 connected to the trustee ￿te1Ved any remuneration during the year12022- nill.
FIXED ASSET INVESTMENTS
Listed
investrnents
MARKET VALUE
At 01 November 2022
Revaluations
2.171.986
1129.5251
At 31 October 2023
2.042.461
BOOK VALUE
At 31 October 2023
2,042,461
At 31 Ottober 2022
2,171,986
All investrnents are carrfed at their fair value. Investments are all traded In quoted public markets. prfmarily the
London Stock Exchange.
Cost or valuation at 31 (ktober 2023 is represented by..
Listed
inve5tmRnts
Valuation in 2023
2,042,461
Listed Investments represents the Sexcentenary Appeal Fund'5 share of the funds held in The Worshipful Companv
of Founders Combined Charity Income Comfflon Investment Fund.
Page 10
continued...

ThE WORSHIPFUL COMPANY OF FOUNDERS
SEXCÉNTENARV APPEAL FUND
NOTES
THE FINAN
IAL Sf
TEMENTS-
ntinu
FOR THE PERIOD I NOVEMBER 2022 TO 31 O￿OBER 2023
INVE5fMENT PROPERTY
FAIR VALUE
At 31, Ottober 2022
and 31 Ottober 2023
2.720,000
BOOK VALUE
At 31 Ortober 2023
2,720.000
At 31 October 2022
2,720.000
The investment properties were ￿lUed at the acquisition date by Kirkby Diamond Chartered Surveyots. on a fair
value basi5. At the reporting date no remeasurement was deerned necessary.
DEBTORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR
2023
2022
Robert Warner Fund
Anniversaries Fund
Founders Comblned Charity Income Common Investment Fund
Prepayments
34.400
34.400
23,650
53,175
3.830
4.277
38,677
115.OSS
CREDITORS.. AMOUNTS FALUNG DUE wrrHIN ONE YEAR .
2023
2022
Worshipful Company of Founders
Founders Combined Chartty Income Common Investment Fund
Accruals
Defer Brunel property income
Brunel property deposit
6,842
12.121
11.555
16,276
5.400
4,253
11,358
15.329
5.400
Total Creditors
52.194
36.340
MOVEME￿ IN FUNDS
Net
movement
in funds
Transfer5
between
funds
At
26110122
At
31110123
General fund
Brunel Fund
480,218
4.559,736
1117,8461
55,946
362,372
4,615.682
Unr•strirted fund$
5,039.954
161.9001
4.978,054
TOTAL FUND5
5.039.954
161,9001
4.978.054
Page 11
continued...

THEW
R5HIPF
L COMPANY
EXCENTENARY APPEAL FUND
F FOLINDERS
NOTES T
HEFI
NCIAL STA
EN
contln
FOR THE PERIOD I NOVEMBER 2022 TO 31 ocfoBER 2023
MOVEMENT IN FUNDS- continued
Net movement in funds, included in the above ère as follows-.
Incomin8
resources
Resources
expended
Gains and
losses
Movement
in funds
Unrestrlrted fvnds
General fund
Brunel Fund
11,069
116.842
12,4181
157.8681
1126,4971
13,0281
1117,8461
55.946
127,911
160.2861
1129.5251
161.9001
TOTAL FUNDS
127.911
160,2861
1129,5251
161,9001
Comparatfve5 for movemènt in fvnds
Net
rnovement
in funds
T￿nsfer$
betweèn
funds
At
26110122
At
311101232
Unre5trl¢ted funds
General fund
Brunel Fund
494.301
4,603.341
114,0831
143.6051
480.218
4.559,736
5,097.642
57.688
5,039.954
TOTAL FyfvDS
5,097.642
157,6881
5,039.954
Comparatlve net movement ia funds. included in the above are ès follows-.
Inctsming
resources
Resources
expended
Galns and
losses
Movement
in funds
Unrestricted funds
General fund
8runel Fund
5,653
101,055
18,3541
38.8801
111.3821
105.7801
114,0831
143,6051
106.563
147.2341
1117,1621
157,6881
.TOTAL FUNDS
106,563
147,2341
1117,1621
57.6881
Page 12
continued...

THE WORSHIPFUL COMPANY OF FOUND
SEXCENTENARY APPEAL FUND
NOT
TOTH
FINANaAL sr
TEMENTS- c
Tnued
FOR THE PERIOD I NOVEM8ÉR 2022 TO 31 ocfoBER 2023
io.
RELATED PARTY DISCLOSURES
During the period. the charity had investment income receivable of £48.18612022 £33.1751 from The Founders
Combined Charity Income Common Investrnent Fund. At the period end £12.120 12022 £53.175 debtor) was
Included in creditors.
During the period the charity paid £6.84212022- £4.2531 to its trustee, the Worshipful Company of Foundets. for
administrative and mana8ement suppgrt. Atthe period end £6,842 was in c￿dItOrs.
At the period end Énil12022- £23,6501 was Included in debtors a5 due from the Anniversaries Fund.
Atthe perioLI end £34,40012022- £34,400) was included in debtots as due frorn the Robert Wamer Fund.
The charities have the same trustee and governing body.
Page 13

THE WORSHIPFUL COMPANY OF F
EXCENTENARY APPÉAL FUND
NDE
ILED
TATEMENTOF
FOR THE PERIOD I NOVE
INAN
IALA
BER 2022 TO
VITrES
I OCTOBER 2023
PERIOD
01111122
TO
3VIO123
PERIOD
26110121
TO
31110122
INCOME AND ENDOWMENTS
Donatlons and legacies
Donations from other charities
2,500
Investment Incoffle
Rents received
Property insurance ￿Charged to tenants
Founders Combined Charity Income CIF
71,258
5.967
48.186
68.268
5,265
33.175
125.411
106.708
Total incoming resources
127.911
106.708
EXPENDITURE
Charitable acttvltles
Talks, Lectures and Exhibrtions
Grènts to institutions
John Warner School
Grants to individua15
1,309
21.7(K)
11.718
28.871
6.300
40,589
29,309
Support costs
Management
Rates and water
Insurance
Light and heat
Property managpment costs
S.967
141
4,305
5.265
4.126
10.268
5.753
Flnance
Legal and professional fee5
Carried forward
700
700
35
35
This page does not fom) part of the statutory financial statements
Page 14

THE WORSHIPFUL COMPANY
SEXCENTENARY APPEAL FUND
F FOUNDERS
ILED STA
R THE PERI
MENTOF FINANCIAL
D I NOVEMBER 2022 T
IVMES
31 ocfoBER 2023
PERIOO
OVll122
TO
31110123
PERIOD
26110121
TO
31110122
Flnan¢e
Brought forward
Bank charges
700
35
59
760
4.220
Governanee costs
Administration fees
Accountancy and legal fees
7,232
1,437
4.253
3,699
8,669
7,952
Total resources éxpended
60,286
47,234
Net income
67.625
59.474
Th¢5 page does not form part of the statutory financial statements
Page IS