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2022-07-31-accounts

CONTENTS Page
Report ofthe Trustee I —13
Independent auditors' report 14-17
Statement of financial activities 18
Balance sheet 19
Statement of Cash Flow 20
Notes to the financial statements 21-33

Unrestricted Restricted Eadowment Total Tora/
Fund Fund Fund 2021/22 2020/2021
Note
incoming
and
endowments
from:
Donations
and legacies		 2 172,000 4,000 77,302 253,302 368,389
Investments 3 1,838,364 644,252 47,304 2,529,920 2,526,69I
Other income
2,010,364 648,252 124,606 2,783,222 2,895,080
Expenditure
on:
Charitable
activities		 4, 5 1,803,840 687,923
Total 1,803,840 687,923 14,000 2,505,763 2,227,797
Net investment
gains		 6,11,12 (64,494) (570,829) (635,323) 6,975,829
Leasehold amortisation (433,332) (433,332) (433,332)
Net income
/ expenditure		 (226,808) (104,165) (460,223) (791,196) 7,209,780
Transfer between
funds
Net movement
in funds
Balance at 1 August 5,526,020 7,857,612 66,332,319 79,715,951 72,506,/7/
Balances at 31July 5,299,212 7,753,447 65,872,096 78,924,755 79,7I5,95I

2022 2021
Cash flow from operating
activities:
Net cash provided
by operating
activities		 CFI (2,659,530) (2,044,153)
Cash flow from financing
activities
New endowment
Cash flow from investing
activities:
Dividends,
interest and rent from investments		 2,783,222 2,537,357
Proceeds from the sale ofinvestments
Purchase ofinvestments (119,977) (152,127)
Net cash from investing
activities		 2,663,245 2,385,230
Changes in cash and cash equivalents in the year 3,715 341,077
Cash and cash equivalents
at I August		 CF2 1,836,312 1,495,235
Cash and cash equivalents
at 31 July		 CF2 1,840,027 1,836,312
CF1Reconcfliation ofnet income/expenditure to net cash flow from operating activities
2022 2021
Net income/expenditure (791,196) 7,209,780
Adjustments
for:
(Gains)/losses
on investments		 635,323 (6,975,829)
Dividends
income and rents from investments		 (2,783,222) (2,537,357)
New endowment
Amortisation
ofThrogmorton
Assets lease		 433,332 433,332
(Increase)/decrease
in debtors		 (62,374) (3,774)
(Decrease)/Increase
in creditors		 (91,393) I70,305)
Net cash provided
by operating activities		 2,659,530) (2,044,153)
CF2 Analysis ofcash and cash equivalents
2022 2021
Cash in hand 1,840,027 1,836,312
1,840,027 1,836,312
Analysis ofchanges in net debt
At start of year Cash flows At end of year
1,836,312 3,715 1,840,027

Unrestricted Restricted Endowment Total
Funds Funds Funds 2021/22
Donations from The Drapers'
Company 172,000 172,000
Other donations 4,000 77,302 81,302
172,000 4,000 77,302 253,302
Unrestricted Restricted Endowment Total
Funds Funds Funds 2020/21
Donations from The Drapers'
Company 271,000 271,000
Other donations 97,389 97,389
271,000 97,389 368,389
3 Investment income
Unrestricted Restricted Endowment Total
Funds Funds Funds 2021/22
Dividends receivable from Drapers* Charities Pooling 1,338,324 644,252 47,304 2,029,880
Scheme
Rents received from mtermediate lease 500,000 500,000
Bank interest receivable 40 40
1,838,364 644,252 47,304 2,529,920
Unrestricted Restricted Endowment Total
Funds Funds Funds 2020/21
8
Dividends receivable from Drapers' Charities Pooling 1,335,454 644,247 46,353 2,026,054
Scheme
Rents received from intermediate lease 500,000 500,000
Bank mterest receivable 637 637
1,836,091 644,247 46,353 2,526,691

4 Cost ofgrants awarded 2020/21 2019/20
Grants awarded
from		 Unrestricted Funds
General Fund
Bancroft's School (2 awards) 70,000 70,000
Queen Mary, University ofLondon (2 awards) 54,200 54,200
Drapers'
Multi Academy		 Trust (2 awards) 50,800
Bangor University 40,000 40,000
Centre ofthe Cell 40,000 40,000
Thomas Adams School (3 awards) 37,200 5,000
Pembroke College, Cambridge (2 awards) 35,750 35,750
Future Youth Zone 35,000 35,000
Hertford College, Oxford 30,000 30,000
Jamie's Farm 30,000 30,000
Poppy Factory 30,000 30,000
Resurgo Spear 30,000 30,000
StAnne's College, Oxford 30,000 25,000
The Hon The Irish Society 30,000 30,000
Doorstep Library 26,766
Cardinal
Hume Centre		 25,000
Chance UK 25,000
Disaster Emergency
Committee		 25,000
Launch It 25,000 20,000
Literacy Pirates 25,000
New Horizon Youth Centre 25,000
Prisoners Education Trust 25,000
Think Forward Uk 25,000
Waltham
Forest Churches		 Night Shelter 25,000 15,000
Ciy &Guilds of London Art School 20,900 41,700
Handel House Museum Trust 20,000
Just for Kids Law 20,000
Prisoners
Abroad		 20,000 20,000
Shannon Trust 20,000 20,000
Stoll 20,000
Switchback 20,000 20,000
Trailblazer
Mentoring		 20,000 15,000
Youth Action Alliance 20,000
Goodenough
College (2		 awards) 18,000 1,000
Lambeth Elfrida Rathbone Society 16,675
The Textile Conservation Foundation 15,500
Barons Court project 15,000
Football Journeys 15,000
Forward Youth 15,000
Garden Classroom 15,000
Hackney Doorways 15,000 15,000
House ofStBamabas 15,000
Open Door 15,000 15,000
Regenerate 15,000
Saracens Sports Foundation 15,000
StAndrew's
Club		 15,000
Balance C/fwd 1,175,791 637,650

Balance b/fwd 1,175,791 637,650
The Avenues
Youth Project		 15,000
Unlocking
Potential		 15,000
Waterloo Uncovered 15,000
Yes Futures 15,000
Young Women's
Trust		 15,000
Brandon Centre 14,968
Calibre Audio 14,960
Your Story 14,835
1,295,544 637,650
108grants to further 102charities/institutions 446,086 1,032,56I
Total grants awarded
from General Fund to		 Institutions 1,741,640 1,670,2II
Grants awarded
from General		 Fund to Individuals
21 awards (2020/21 - 26 awards) 9,500 7,550
Total grants awarded
from General		 Fund 1,751,140 I,677,761
Unclaimed
grants written back		 (24,550) (/08,375)
Designated
Funds
Special Project Fund
Total grants awarded
from Unrestricted		 Funds 1,726,590 /,569,386
Grants awarded
from Expendable		 Endowment Funds
Gift and Legacy Fund 14,000 21,000
Grants awarded
from Restricted		 Funds
Friends ofDrapers'
Almshouses		 (FODAH) 6,792
Baroness de Turckheim
Music Fund
Guildhall
School ofMusic &Drama		 11,500
Royal Academy ofMusic 11,500
Royal College ofMusic 11,500
Royal Northern
College ofMusic		 11,500
StPaul*s Cathedral
Chorister Trust		 11,000
Trinity Laban Conservatoire
of		 Music &Dance 11,500 68,500 48,000
Bangor Research Fellowship
Fund		 51,000 51,000
Drapers'
Consolidated
Charity
Harold Hill Foodbank 25,000
RL Glasspool Charity Trust 25,000
Alexandra Rose Charity 20,000
FoodCycle 15,000
Afghanistan
and Central Asian		 Association 15,000
Link Age Soutwark 15,000
Home Start Haringey,
Hackney		 and Waltham Forest 15,000
Shepherds
Bush Families Project		 15,000
The Society ofMary and Martha 15,000
Bonny Downs Community
Assoication		 14,367
Fashion &Textile Children's
Trust		 10,000
Queen Mother's
Clothing
Guild		 10,000
South London Cares 10,000
Bishop Creighton
House		 8,000
Working Families 7,500
Balance c/fwd 219,867

Balance b/fwd Balance b/fwd 219,867
Welfare payments
(6 individuals)		 2,218
Almshouse
Residents'
Welfare		 Funds (2 awards) 1,950 224,035 174,681
Drapers'
Academy
Endowment		 Fund 89,200 89,196
Henry Dixon's Foundation
for Apprenticing:
UKFT (3 awards) 42,500
University ofLeeds (3 awards) 30,900
London Metropolitian
University		 (2 awards) 8,550
Bradford Textiles Society 3,000
Shrewsbury
Drapers		 2,000 86,950 35,200
Drapers'
(Wigiam
and Mary) Tercentennial		 Award
Queen Mary, University of London 10,000 10,000
Redcliffe Foundation
Fund		 151,446 151,446
Total grants awarded
from Restricted Funds		 687,923 603,146
Support Costs
Management
Costs: Administration		 20,313 18,519
Office 8,397 7,770
Finance Costs; Administration 20,313 18,519
Office 8,397 7,770
Governance
costs (see note 5)		 19,830 25,310
2,505,763 2,227,797
020/21: f2,9 25).
Governance costs
2021/22 2020/21
Administration staff costs 10,154 9,258
Office costs 4,198 3,885
Audit fees 4,838 10,494
Other 640 1,673
19,830 25,310

Investments
2021/22 2020/21
Pooling Scheme Investment Total Total
Property 0
Market value at 1 August 74,074,883 3,899,988 77,974,871 71,280,247
Acquisitions 119,977 119,977 152,127
Lease amortisation (433,332) (433,332) (433,33Z)
Net investment
(losses)/gains		 635,323 (635,323) 6,975,829
Market value at 31 July 73,559,537 3,466,656 77,026,193 77,974,871
Historical cost at 31 July 33656,323 33,504,196

7 Debtors
2021/22 ZOZO/21
Accrued income 290,321 227,947
290,321 Z27,947
8 Creditors: Amounts falling due within one year
2020/21 2019/20
Provision for grants payable 141,220 64,747
Sundry creditors 90,566 258,432
231,786 323,179

10 Analysis of Analysis of total net assets
Unrestricted Restricted Endowment Total
Funds Funds Funds 31.07.22
f.
Investments 3,466,656 7,753,447 68,806,090 77,026,193
Net current assets 1,832,556 66,006 1,898,563
5,299,212 7,753,447 65,872,096 78,924,756
Unrestricted Restricted Endowment Total
Funds Funds Funds 31.07.21
Investments 3,899,988 7,857,612 66,217,721 77,974,871
Net current assets 1,626,032 114,59B 1,741,080
5,526,020 7,857,612 66,332,319 79,715,951
11 Endowment funds
Balance Income Expenditure Trfs/Gain/ Balance
01.08.21 (losses) 31.07.22
Expendable Endowment Fund 46,313,290 (408,151) 45,905,139
Permanent Endowment Fund
Drapers' Consolidated Charity 7,157,634 (63,482) 7,094,152
Drapers' Consolidated Charity 1,725,578 47,304 (5,731) 1,767,151
(CRF)
Henry Dixon's Foundation 2,836,596 (24,861) 2,811,735
Drapers' William and Mary 544,784 (4,774) 540,010
Redchffe Foundation Fund 5,526,612 (48,437) 5,478,175
17,791,204 47,304 (147,285) 17,691,223
Gig and Legacy Fund 2,227,825 77,302 (14,000) (15,393) 2,275,734
66,332,319 124,606 (14,000) (570,829) 65,872,096

Endowment funds /continued) Endowment funds /continued) Endowment funds /continued)
Balance Income Expenditure Trfs/Gain/ Balance
01.08.20 (losses) 31.07.21
Expendable Endowment Fund 41,911,515 4,401,775 46,313,290
Permanent Endowment Fund
Drapers' Consolidated Charity 6,472,995 684,639 7,157,634
Drapers' Consolidated Charity 1,531,647 46,353 147,578 1,725,578
(CRF)
Henry Dixon's Foundation 2,568,483 268, 113 2,836,596
Drapers' William
and		 Mary 493,292 51,492 544,784
Redcliffe Foundation Fund 5,004,241 522,371 5,526,612
16,070,658 46,353 1,674,193 17,791,204
Gift and Legacy Fund 1,947,105 97,389 (21,000) 204,311 2,227,825
59,929,278 143,742 (21,000) 6,280,299 66,332,319

12
Restricted funds		 12
Restricted funds
Movements ofFunds
01.08.21 Income Expenditure Gains/ 31.07.22
(losses)
Bangor Research Fellowship Fund 1,706,729 45,388 (51,000) (14,516) 1,686,601
Friends ofDrapers* Almshouses Fund 3,000 4,000 (6,790) 210
Baroness de Turckheim
Music		 Fund 2,531,996 66,556 (68,500) (21,286) 2,508,766
Taylor Chantable
Trust		 23,287 508 (163) 23,632
Drapers* Academy Endowment Fund 3,254,301 89,200 (89,200) (28,529) 3,225,772
Drapers'
Consolidated
Charity		 140,907 198,492 (224,035) 115,364
Henry Dixon's Foundation 167,402 77,732 (86,950) 158,184
Drapers* William
and Mary		 29,990 14,928 (10,000) 34,918
Rrxtchffe Foundation
Fund		 151,448 (151,448)
7,857,612 648,252 (687,923) (64,494) 7,753,447
Movements ofFunds
01.08.20 Income Expenditure Gains/ 31.07.21
(losses)
Bangor Research Fellowship Fund 1,555,797 45,386 (51,000) 156,546 1,706,729
Friends ofDrapers'
Almshouses		 Fund 3000 3,000
Baroness de Turckheim
Music		 Fund 2,283,869 66,557 (48,000) 229,570 2,53 1,996
Taylor Charitable
Trust		 21,018 510 1,759 23,287
Drapers'
Academy Endowment		 Fund 2,946,646 89,196 (89,196) 307,655 3,254,301
Drapers'
Consolidated
Charity		 117,097 198,491 (174,681) 140,907
Henry Dixon's Foundation 124,870 77,732 (35,200) 167,402
Drapers'
William
and Mary		 25,061 14,929 (10,000) 29,990
Redcliffe Foundation
Fund		 151,446 (151,446)
7,077,358 644247 (559,523) 695,530 7,857,612

The Unrestricted The Unrestricted Funds consist of Designated Funds, which have been set aside by the Trustee been set aside by the Trustee for specific
purposes, and the General Free Funds ofthe Charity.
Balance Incoming Resources Balance
01.08.21 resources expended Transfers 31.07.22
Designated Funds:
Special Projects Fund 428,183 428,183
Intermediate Lease Fund 3,899,988 (433,332) 3,466,656
4,328,171 (433,332) 3,894,839
General Fund 1,197,849 2,0)0,364 (1,803,840) (,404,373
5,526,020 2,010,364 (2,237,172) 5,299,212
Balance Incoming Resources Balance
01.08.20 resources expended Transfers 31.07.21
8
Designated Funds:
Special Projects Fund 428,183 428,183
Intermediate Lease Fund 4,333,320 (433,332) 3,899,988
4,76),503 (433,332) 4,328,171
General Fund 738,032 2,107,091 (1,647,274) 1,197,849
5,499,535 2, 107,09 1 (2,080,606) 5,526,020

16
Prior year SOF		 A
Unrestricted Restricted Endowment Total
Fund Fund Fund 2020/21
Incoming
and endowments		 from:
Donations
and legacies		 271,000 97,389 368,389
Investments I 836,091 644,247 46,353 2,526691
Total 2,107,091 644,247 143,742 2,895,080
Expenditure
on:
Charitable
acttvittes		 1,647,274 559,523 21,000 2,227797
Total 1,647,274 559,523 21,000 2,227,797
Net investment
gains		 695,530 6,280,299 6,975,829
Leasehold amornsation (433,332) (433,332)
Net income
/ expenditure		 26,485 780,254 6,403,041 7,209,780
Transfer between
funds
Net movement
in funds		 26,485 780,254 6403,041 7,209,780
Balances at I August(restated) 5,499,535 7,077,358 59,929278 72,506,171
Balances at31July 5,526,020 7,857,612 66,332,319 79,715,951