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|`CONTENTS`|`Page`|
|---|---|
|`ReportoftheTrustee`|`1-13`|
|`Independentauditors’report`|`14-17`|
|`Statementoffinancialactivities`|`18`|
|`Balancesheet`|`19`|
|`StatementofCashFlow`|`20`|
|`Notestothefinancialstatements`|`21`<br>`-32`|



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|||`Unrestricted`|`Restricted`|`Endowment`|`Total`|`Total`|
|---|---|---|---|---|---|---|
|||`Fund`|`Fund`|`Fund`|`2023/24`|`2022/2023`|
||`Note`|`£`|`£`|`£`|`£`|`£`|
|`Incoming`<br>`and`<br>`endowments`|||||||
|`from:`|||||||
|`Donationsandlegacies`<br>`Investments`|`2`<br>`3`|<br>`88,998`<br>`1,855,819`|<br>`-`<br>`644,252`|<br>`118,342`<br>`53,530`|<br>`207,340`<br>`2,553,601`|<br>`172,689`<br>`2,535,387`|
|`Total`||<br>`1,944,817`|<br>`644,252`|<br>`171,872`|<br>`2,760,941`|<br>`2,708,076`|
|`Expenditureon:`|||||||
|`Charitableactivities`|`4,5`|<br>`2,126,048`|<br>`646,571`|<br>`57,500`|<br>`2,830,119`|<br>`2,881,927`|
|`Total`||<br>`2,126,048`|<br>`646,571`|<br>`57,500`|<br>`2,830,119`|<br>`2,881,927`|
|`Netinvestmentgains/(losses)`|`6,11,12`|`-`|`455,523`|`4,154,344`|`4,609,867`|`(1,718,560)`|
|`Leaseholdamortisation`|`6`|`(433,332)`|`-`|`-`|`(433,332)`|`(433,332)`|
|`Netincome/ (expenditure)`||<br>`(614,563)`|<br>`453,204`|<br>`4,268,716`|<br>`4,107,357`|<br>`(2,325,743)`|
|`Transferbetweenfunds`|`11,12,13`|<br>`(138,842)`|<br>`137,395`|<br>`1,447`|<br>`-`|<br>`-`|
|`Netmovementinfunds`||<br>`(753,405)`|<br>`590,599`|<br>`4,270,163`|<br>`4,107,357`|<br>`(2,325,743)`|
|`Balanceat`<br>`|August`||`4,571,602`|`7,597,200`|`64,430,210`|`76,599,012`|`78,924,755`|
|`Balancesat31July`||<br>`3,818,197`<br>|<br>`8,187,799`<br>|<br>`68,700,373`<br>|<br>`80,706,369`<br>|<br>`76,599,012`<br>|





## 

## 

||<br>`Note`|<br>`£`|<br>`31.07.24`|<br> <br>`£`|<br>`31.07.23`<br>`£`|<br> <br>`£`|
|---|---|---|---|---|---|---|
|`Fixedassets`|||||||
|`Investments`||||`79,432,078`||`75,114,560`|
|`Currentassets`|||||||
|`Debtors`<br>`Cashatbank`||`33,322`<br>`1,438,424`|||`232,591`<br>`1,424,925`||
|||`1,471,746`|||`1,657,516`||
|`Liabilities`|||||||
|`Creditors:amountsfalling`|||||||
|`duewithinoneyear`||`(197,455)`|||`(173,064)`||
|`Netcurrentassets`||||`1,274,291`||`1,484,452`|
|`Totalnetassets`|`10`||`80,706,369`|||`76,599,012`|
|`Representedby:`|||||||
|`Capitalfunds`|||||||
|`EndowmentFund`|`11`||`68,700,373`||`64,430,210`||
|`Incomefunds`|||||||
|`RestrictedFunds`|`12`|||`8,187,799`||`7,597,200`|
|`Unrestrictedfunds:`|||||||
|`DesignatedFunds`<br>`GeneralFunds`|`13`<br>`13`|`2,599,992`<br>`1,218,205`|||`3,455,507`<br>`1,116,095`||
|||||`3,818,197`||`4,571,602`|
||||`80,706,369`|||`76,599,012`|






## 

||||`2024`|`2023`|
|---|---|---|---|---|
||||`£`|`£`|
|`Cashflowfromoperatingactivities:`|||||
|`Netcashprovidedbyoperatingactivities`||`CFI`|`(2,716,060)`|`(2,861,074)`|
|`Cashflowfromfinancingactivities`|||||
|`Newendowment`|||`118,342`|`93,689`|
|`Cashflowfrominvestingactivities:`|||||
|`Dividends,interestandrentfrominvestments`<br>`Proceedsfromthesaleofinvestments`|||`2,752,200`|`2,592,542`<br>`-`|
|`Purchaseofinvestments`|||<br>`(140,983)`|<br>`(240,259)`|
|`Netcashfrominvestingactivities`|||<br>`2,624,716`|<br>`2,352,283`|
|`Changesincashandcashequivalentsintheyear`|||<br> <br>`13,499`|<br> <br>`(415,102)`|
|`Cashandcashequivalentsat`<br>`1August`||`CF2`|`1,424,925`|`1,840,027`|
|`Cashandcashequivalentsat31July`||`CF2`|`1,438,424`|`1,424,925`|
|`CFIReconciliationofnetincome/expendituretonetcashflowfrom`|||`operatingactivities`<br>`2024`|`2023`|
||||`£`|`£`|
|`Netincome/expenditure`|||`4,107,357`|`(2,325,743)`|
|`Adjustmentsfor:`<br>`(Gains)/lossesoninvestments`<br>`Dividendsincomeandrentsfrominvestments`<br>`AmortisationofThrogmortonAssetslease`<br>`Decreaseindebtors`<br>`Increase/(Decrease)increditors`|||`(4,609,867)`<br>`(2,553,601)`<br>`433,332`<br>`670`<br>`24,391`|`1,718,560`<br>`(2,535,387)`<br>`433,332`<br>`375`<br>`(58,722)`|
|`Receiptofendowment`|||<br>`(118,342)`|<br>`(93,689)`|
|`Netcashprovidedbyoperatingactivities`|||<br> <br>`(2,716,060)`|<br> <br>`(2,861,074)`|
|`CF2Analysisofcashandcashequivalents`|||||
||||`2024`|`2023`|
||||`£`|`£`|
|`Cashinhand`|||`1,438,424`|`1,424,925`|
||||<br> <br>`1,438,424`|<br> <br>`1,424,925`|
|`Analysisofchangesinnetdebt`|||||
|`Atstartofyear`|`Cash`|`flows`|`Atendof`|`year`|
|`£`|`£`||`£`||
|`Cash`<br>`1,424,925`<br>|`13,499`<br>|<br>|`1,438,424`<br>|<br>|





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|`2`|`Voluntaryincome`||||||
|---|---|---|---|---|---|---|
|||`Unrestricted`||`Restricted`|`Endowment`|`Total`|
|||`Funds`||`Funds`|`Funds`|`2023/24`|
||||`£`||`£`|`£`|
||`DonationfromTheDrapers’Company`|`88,998`||`-`|`-`|`88,998`|
||`Otherdonations`|`-`||`-`|`118,342`|`118,342`|
|||<br> <br>`88,998`|<br>|<br> <br>`-`|<br> <br>`118,342`|<br> <br>`207,340`|
|||`Unrestricted`||`Restricted`|`Endowment`|`Total`|
|||`Funds`||`Funds`|`Funds`|`2022/23`|
|||`£`||`£`|`£`|`£`|
||`DonationfromTheDrapers’Company`|`79,000`||`-`|`.`|`79,000`|
||`Otherdonations`|`-`||`.`|`93,689`|`93,689`|
|||<br> <br>`79,000`|<br>|<br> <br>`-`|<br> <br>`93,689`|<br> <br>`172,689`|
||`Investmentincome`||||||
|||`Unrestricted`||`Restricted`|`Endowment`|`Total`|
|||`Funds`||`Funds`|`Funds`|`2023/24`|
|||`£`||`£`|`£`|`£`|
||`DividendsreceivablefromDrapers’CharitiesPooling`|`1,342,682`||`644,252`|`53,530`|`2,040,464`|
||`Scheme`||||||
||`Rentsreceivedfromintermediatelease`|`500,000`||`-`|`-`|`500,000`|
||`Bankinterestreceivable`|`13,137`||`-`|`=`|`13,137`|
|||<br> <br>`1,855,819`|<br> <br>|<br> <br>`644,252`|<br> <br>`53,530`|<br> <br>`2,553,601`|
|||`Unrestricted`||`Restricted`|`Endowment`|`Total`|
|||`Funds`||`Funds`|`Funds`|`2022/23`|
|||`£`||`£`|`£`|`£`|
||`DividendsreceivablefromDrapers’CharitiesPooling`<br>`Scheme`|`1,340,765`||`644,252`|`50,285`|`2,035,302`|
||`Rentsreceivedfromintermediatelease`|`500,000`||`-`|`-`|`500,000`|
||`Bankinterestreceivable`|`85`||`-`|`-`|`85`|
|||<br>`1,840,850`<br>|<br>|<br>`644,252`<br>|<br>`50,285`<br>|<br>`2,535,387`<br>|





## 

|`4`|`Costofgrantsawarded`|`2023/24`|`2022/23`|
|---|---|---|---|
|||`£`|`£`|
||`GrantsawardedfromUnrestrictedFunds`|||
||`GeneralFund`<br>`Bancroft’sSchool(2awards)`<br>`QueenMary,UniversityofLondon(2awards)`|`70,000`<br>`54,200`|`70,000`<br>`54,200`|
||`LiveryFoodInitiative`|`50,000`|`25,000`|
||`NoGoingBack`<br>`BangorUniversity`<br>`TheHonTheIrishSociety`<br>`PembrokeCollege,Cambridge`<br>`ActionTutoring`|`50,000`<br>`40,000`<br>`40,000`<br>`35,000`<br>`30,000`|`50,000`<br>`40,000`<br>`40,000`<br>`35,750`<br>`30,000`|
||`FutureYouthZone`|`30,000`|`35,000`|
||`HertfordCollege,Oxford`<br>`HistoricRoyalPalaces`|`30,000`<br>`30,000`|`31,000`<br>`-`|
||`PrisonRadioAssociation`|`30,000`|`30,000`|
||`StAnne’sCollege,Oxford`|`30,000`|`30,000`|
||`Veterans’Aid`<br>`WorkingChance`|`30,000`<br>`30,000`|`-`<br>`-`|
||`BaytreeCentre`|`25,000`|`.`|
||`BeatingTime`|`25,000`|`25,000`|
||`Envision`|`25,000`|`-`|
||`FineCellWork`|`25,000`|`-`|
||`FutureFrontiers`|`25,000`|`-`|
||`GetFurther`|`25,000`|`-`|
||`LaunchIt`|`25,000`|`-`|
||`NewHorizonYouthCentre`<br>`OneSmallThing`<br>`OnwardsandUpwards`|`25,000`<br>`25,000`<br>`25,000`|`25,000`<br>`.`<br>`30,000`|
||`Prisoners’EducationTrust`<br>`RoyalNationalChildren’sSpringboardFoundation`<br>`ThinkForward`<br>`Thrive`<br>`upReach`|`25,000`<br>`25,000`<br>`25,000`<br>`25,000`<br>`25,000`|`25,000`<br>`-`<br>`25,000`<br>`-`<br>`-`|
||`TreasuresFoundation`<br>`SettleSupport`|`24,000`<br>`21,500`|`-`<br>`-`|
||`CityandGuildsofLondonArtSchool`<br>`AccessProject`<br>`CareerReady`|`20,900`<br>`20,000`<br>`20,000`|`20,900`<br>`20,000`<br>`-`|
||`FirstStarScholarsUK`<br>`In2Change`<br>`NehemiahProject`|`20,000`<br>`20,000`<br>`20,000`|`-`<br>`20,000`<br>`-`|
||`ProvidenceRow`|`20,000`|`-`|
||`ThomasAdams’Foundation`|`20,000`|`-`|
||`ZahidMubarekTrust`<br>`GoodenoughCollege(2awards)`<br>`Balancec/fwd`|<br>`20,000`<br>`17,700`<br>`1,198,300`|<br>`-`<br>`17,800`<br>`679,650`|





## 

## 

|`Balanceb/fwd`<br>`171grantstofurther168charities/institutions`<br>`TotalgrantsawardedfromGeneralFundtoInstitutions`||<br> <br>`2023/24`<br>`£`<br>`1,198,300`<br>`804,645`<br>`2,002,945.`|<br> <br>`2022/23`<br>`£`<br>`679,650`<br>`1,433,529`<br>`2,113,179`|
|---|---|---|---|
|`GrantsawardedfromGeneralFundtoIndividuals`<br>`19awards(2022/23- 21awards)`||<br>`23,300`|<br>`19,600`|
|`TotalgrantsawardedfromGeneralFund`<br>`Unclaimedgrantswrittenback`||`2,026,245`<br>`(570)`|`—-2,132,779`<br>`(17,250)`|
|`DesignatedFunds`||||
|`SpecialProjectFund`|||`6,000`|
|`TotalgrantsawardedfromUnrestrictedFunds`||<br> <br>`2,025,675.`|<br> <br>`2,121,529`|
|`SupportCosts`||||
|`ManagementCosts:Administration`<br>`Office`<br>`FinanceCosts:Administration`<br>`Office`<br>`Governancecosts(seenote5)`||<br> <br>`23,943`<br>`11,636`<br>`23,943`<br>`11,636`<br>`29,215`<br>`2,126,048`|<br> <br>`21,950`<br>`9,486`<br>`21,950`<br>`9,486`<br>`23,727`<br>`2,208,128`|
|`GrantsawardedfromExpendableEndowmentFunds`<br>`GiftandLegacyFund`||`57,500`|`38,000`|
|`GrantsawardedfromRestrictedFunds`||||
|`FriendsofDrapers’Almshouses(FODAH)`||`3,792`|`2,653`|
|`BaronessdeTurckheimMusicFund`||||
|`GuildhallSchoolofMusic& Drama`|`11,500`|||
|`RoyalAcademyofMusic`|`11,500`|||
|`RoyalCollegeofMusic`|`11,500`|||
|`RoyalNorthernCollegeofMusic`|`11,500`|||
|`StPaul’sCathedralChoristerTrust`<br>`TrinityLabanConservatoireofMusic& Dance`<br>`BangorResearchFellowshipFund`|`11,000`<br>`11,500`|`68,500`<br>`51,000`|`68,500`<br>`51,000`|
|`Drapers’ConsolidatedCharity`||||
|`HaroldHillFoodbank`<br>`HomeStartHavering`<br>`RLGlasspoolTrust`<br>`CrosslightAdvice`<br>`AbbeyCommunityAssociation`<br>`BEfriend`<br>`StPancrasCommunityAssociation`<br>`SufraNWLondon`<br>`Helponyourdoorstep`<br>`AbbeyCommunityCentre`<br>`Welfarepayments(6individuals)`<br>`Drapers’AcademyEndowmentFund`|`25,000`<br>`25,000`<br>`25,000`<br>`20,000`<br>`15,000`<br>`15,000`<br>`15,000`<br>`15,000`<br>`14,000`<br>`10,000`<br>`1,762`|`180,762`<br>`89,201`|`193,333`<br>`89,201`|
|`Balancec/fwd`<br>||<br>`393,255`<br>|<br>`404,687`<br>|





## 

## 

|||`2023/24`|`2022/23`|
|---|---|---|---|
|||`£`|`£`|
|`GrantsawardedfromRestrictedFunds(contd)`||||
|`Balanceb/fwd`||`393,255`|`404,687`|
|`HenryDixon’sFoundationforApprenticing:`||||
|`UKFT`|`33,250`|||
|`UniversityofLeeds`|`21,600`|||
|`FrameworkKnitters’Company`|`15,000`|||
|`LondonMetropolitianUniversity`|`13,310`|||
|`Weavers’Company`|`8,710`|`91,870`|`69,666`|
|`Drapers’(WilliamandMary)TercentennialAward`||||
|`QueenMary,UniversityofLondon`<br>`RedcliffeFoundationFund`||`10,000`<br>`151,446`|`10,000`<br>`151,446`|
|`TotalgrantsawardedfromRestrictedFunds`||<br> <br>`646,571`|<br> <br>`635,799`|
|`Governancecosts`||`2023/24`|`2022/23`|
|||`L`|`£`|
|`Administrationstaffcosts`<br>`Officecosts`<br>`Auditfees`<br>`Other`||<br>`11,969`<br>`5,817`<br>`10,844`<br>`585`|<br>`10,972`<br>`4,74]`<br>`7,406`<br>`608`|
|||`29,215`<br>|`23,727`<br>|



|`6`|`Investments`|||`2023/24`|`2022/23`|
|---|---|---|---|---|---|
|||`PoolingScheme`|`Investment`|`Total`|`Total`|
|||`£`|`Property`|`£`|`£`|
||||`£`|||
||`Marketvalueat1 August`|`72,081,236`|`3,033,324`|`75,114,560`|`77,026,193`|
||`Acquisitions`|`140,983`|`-`|`140,983`|`240,259`|
||`Leaseamortisation`<br>`Netinvestmentgains/(losses)`|<br>`-`<br>`4,609,867`|<br>`(433,332)`<br>`-`|<br>`(433,332)`<br>`4,609,867`|<br>`(433,332)`<br>`(1,718,560)`|
||`Marketvalueat31July`|<br>`76,832,086`|<br>`2,599,992`|<br>`79,432,078`|<br>`75,114,560`|
||`Historicalcostat31July`|`33,527,475`<br>|`-`<br>|`33,527,475`<br>|`33,386,492`<br>|





## 

|`Investments(contd):`|`Investments(contd):`|`Investments(contd):`|`Investments(contd):`|`Investments(contd):`|`Investments(contd):`|`Investments(contd):`|
|---|---|---|---|---|---|---|
|`AllinvestmentassetsareheldwithintheUnitedKingdom.InvestmentsconsistofholdingsintheDrapers’`<br>`CharitiesPoolingScheme(CharityNo`<br>`1061675)and`<br>`its`<br>`interest`<br>`inaninvestmentpropertygiftedby`<br>`ThrogmortonAssetsplc,a whollyownedsubsidiaryof theDrapers’Company(seeNote14).`|||||||
|`7`|`Debtors`||||||
||||||`2023/24`|`2022/23`|
||||||`£`|`£`|
||`Accruedincome`||||<br>`33,322`|<br>`232,591`|
||||||<br> <br>`33,322`|<br> <br>`232,591`|
|`8`|`Creditors:Amountsfallingdue`|`withinoneyear`|||||
||||||`2023/24`|`2022/23`|
||`Provisionforgrantspayable`<br>`Sundrycreditors`||||`£`<br>`106,651`<br>`90,804`|`£`<br>`84,500`<br>`58,564`|
||||||<br>`197,455`<br>|<br>`173,064`<br>|
|`9`|`Futurecharitablecommitments`||||||



## 

||`Unrestricted`|`Restricted`|`Endowment`|`Total`|
|---|---|---|---|---|
||`Funds`|`Funds`|`Funds`|`31.07.24`|
||`£`|`£`|`£`|`£`|
|`Investments`|`2,599,992`|`26,258,612`|`50,573,474`|`79,432,078`|
|`Netcurrentassets`|`1,218,205`|`(18,070,813)`|`18,126,899`|`1,274,291`|
||<br> <br>`3,818,197`|<br> <br>`8,187,799`|<br> <br>`68,700,373`|<br> <br>`80,706,369`|
||`Unrestricted`|`Restricted`|`Endowment`|`Total`|
||`Funds`|`Funds`|`Funds`|`31.07.23`|
||`£`|`£`|`£`|`£`|
|`Investments`|`3,033,324`|`24,642,445`|`47,438,791`|`75,114,560`|
|`Netcurrentassets`|`1,538,278`|`(17,045,245)`|`16,991,419`|`1,484,452`|
||<br>`4,571,602`<br> <br>|<br>`7,597,200`<br> <br>|<br>`64,430,210`<br> <br>|<br>`76,599,012`<br> <br>|





## 

|`11`<br>`Endowmentfunds`|||||||
|---|---|---|---|---|---|---|
||`Balance`|`Income`|`Expenditure`|`Gains/Losses`|`Transfers`|`Balance`|
||`01.08.23`|||||`31.07.24`|
||`£`|`£`|`£`|`£`|`£`|`£`|
|`ExpendableEndowment`|`44,824,872`||`-`|`2,882,775`|`-`|`47,707,647`|
|<br>`Fund`|||||||
|`PermanentEndowment`|||||||
|`Fund`<br>`Drapers’Consolidated`|`6,926,130`|`-`|`-`|`448,378`|`(46,448)`|`7,328,060`|
|`Charity`<br>`Drapers’Consolidated`|`1,777,581`|`53,530`|`-`|`165,422`|`49,002`|`2,045,535`|
|<br>`Charity(CRF)`<br>`HenryDixon’sFoundation`<br>`Drapers’WilliamandMary`<br>`RedcliffeFoundationFund`|<br>`2,745,936`<br>`527,373`<br>`5,349,976`|<br>`-`<br>`-`<br>`-`|<br>`-`<br>`-`<br>`-`|<br>`175,590`<br>`33,723`<br>`342.108`|<br>`1,428`<br>`(2,535)`<br>`-`|<br>`2,922,954`<br>`558,561`<br>`5,692,084`|
||<br>`17,326,996`|<br>`53,530`|<br>`-`|<br>`1,165,221`|<br>`1,447`|<br>`18,547,194`|
|`GiftandLegacyFund`|`2,278,342`|`118,342`|`(57,500)`|`106,348`|`-`|`2,445,532`|
|<br>|<br> <br>`64,430,210`|<br> <br>`171,872`|<br> <br>`(57,500)`|<br> <br>`4,154,344`|<br> <br>`1,447`|<br> <br>`68,700,373`|
||`Balance`|`Income`|`Expenditure`|`Gains/Losses`|`Transfers`|`Balance`|
||`01.08.22`|||||`31.07.23`|
||`£`|`£`|`£`|`£`|`£`|`£`|
|`ExpendableEndowment`|`45,905,139`|`-`|`-`|`(1,080,267)`|`-`|`44,824,872`|
|<br>`Fund`|||||||
|`PermanentEndowment`|||||||
|`Fund`<br>`Drapers’Consolidated`|`7,094,152`|`-`|`-`|`(168,022)`|`-`|`6,926,130`|
|`Charity`<br>`Drapers’Consolidated`|`1,767,151`|`50,285`|`-`|`(39,855)`|`-`|`1,777,581`|
|<br>`Charity(CRF)`<br>`HenryDixon’sFoundation`<br>`Drapers’WilliamandMary`<br>`RedcliffeFoundationFund`|<br>`2,811,735`<br>`540,010`<br>`5,478,175`|<br>`-`<br>`-`<br>`-`|<br>`-`<br>`-`<br>`-`|<br>`(65,799)`<br>`(12,637)`<br>`(128,199)`|<br>`-`<br>`-`<br>`-`|<br>`2,745,936`<br>`527,373`<br>`5,349,976`|
||<br>`17,691,223`|<br>`50,285`|<br>`-`|<br>`(414,512)`|<br>`-`|<br>`17,326,996`|
|`GiftandLegacyFund`|`2,275,734`|`93,689`|`(38,000)`|`(53,081)`|`-`|`2,278,342`|
|<br>|<br>`65,872,096`<br>|<br>`143,974`<br>|<br>`(38,000)`<br>|<br>`(1,547,860)`<br>|<br>|<br>`64.430.210`<br>|





## 

|`12`<br>`Restrictedfunds`|||||||
|---|---|---|---|---|---|---|
|||`Movements`|`ofFunds`||||
||`Balance`|`Income`|`Expenditure`|`Gains/Losses`|`Transfers`|`Balance`|
||`01.08.23`|||||`31.07.24`|
||`£`|`£`|`£`|`£`|`£`|`£`|
|`BangorResearch`|`1,642,568`|`45,386`|`(51,000)`|`102,524`|`128,444`|`1,867,922`|
|`FellowshipFund`|||||||
|`FriendsofDrapers’`|`3,557`|`-`|`(3,792)`|`-`|`8,100`|`7,865`|
|`AlmshousesFund`|||||||
|`BaronessdeTurckheim`|`2,450,482`|`66,557`|`(68,500)`|`150,349`|`-`|`2,598,888`|
|`MusicFund`|||||||
|`TaylorCharitableTrust`|`23,710`|`510`|`-`|`1,151`|`-`|`25,371`|
|`Drapers’Academy`|`3,150,264`|`89,201`|`(89,201)`|`201,499`|`851`|`3,352,614`|
|`EndowmentFund`|||||||
|`Drapers’Consolidated`|`120,522`|`198,491`|`(180,762)`|`-`|`-`|`138,251`|
|`Charity`|||||||
|`HenryDixonsFoundation`|`166,250`|`77,732`|`(91,870)`|`-`|`-`|`152,112`|
|`Drapers’WilliamandMary`|`39,847`|`14,929`|`(10,000)`|`-`|`-`|`44,776`|
|`RedcliffeFoundationFund`|`-`|`151,446`|`(151,446)`|`-`|`-`|`-`|
|<br>|<br> <br>`7,597,200`|<br> <br>`644,252`|<br> <br>`(646,571)`|<br> <br>`455,523`|<br> <br>`137,395`|<br> <br>`8,187,799`|
|||`Movements`|`ofFunds`||||
||`Balance`|`Income`|`Expenditure`|`Gains/Losses`|`Transfers`|`Balance`|
||`01.08.22`|||||`31.07.23`|
||`£`|`£`|`£`|`£`|`£`|`£`|
|`BangorResearch`|`1,686,601`|`45,386`|`(51,000)`|`(38,419)`|`-`|`1,642,568`|
|`FellowshipFund`|||||||
|`FriendsofDrapers’`|`210`|`-`|`(2,653)`|`-`|`6,000`|`3,557`|
|`AlmshousesFund`|||||||
|`BaronessdeTurckheim`|`2,508,766`|`66,557`|`(68,500)`|`(56,341)`|`-`|`2,450,482`|
|`MusicFund`|||||||
|`TaylorCharitableTrust`|`23,632`|`510`|`-`|`(432)`|`-`|`23,710`|
|`Drapers’Academy`|`3,225,772`|`89,201`|`(89,201)`|`(75,508)`|`-`|`3,150,264`|
|`EndowmentFund`|||||||
|`Drapers’Consolidated`|`115,364`|`198,491`|`(193,333)`|`-`|`-`|`120,522`|
|`Charity`|||||||
|`HenryDixonsFoundation`|`158,184`|`77,732`|`(69,666)`|`-`|`-`|`166,250`|
|`Drapers’WilliamandMary`|`34,918`|`14,929`|`(10,000)`|`-`|`-`|`39,847`|
|`RedcliffeFoundationFund`|`-`|`151,446`|`(151,446)`|`-`|`-`|`-`|
|<br>|<br>`7,753,447`<br>|<br>`644,252`<br>|<br>`(635,799)`<br>|<br>`(170,700)`<br>|<br>`6,000`<br>|<br>`7,597,200`<br>|





## 

## 



## 

## 

||`Balance`|`Incoming`|`Resources`|`Transfers`|`Balance`|
|---|---|---|---|---|---|
||`01.08.23`|`Resources`|`Expended`||`31.07.24`|
||`£`|`£`|`£`|`£`|`£`|
|`DesignatedFunds:`||||||
|`SpecialProjectsFund`|`422,183`|`f`|`-`|`(422,183)`|`-`|
|`IntermediateLeaseFund`|`3,033,324`|`-`|`(433,332)`|`-`|`2,599,992`|
||<br>`3,455,507`||<br>`(433,332)`|<br>`(422,183)`|<br>`2,599,992`|
|`GeneralFund`|`1,116,095`|`1,944,817`|`(2,126,048)`|`283,341`|`1,218,205`|
||<br> <br>`4,571,602`|<br> <br>`1,944,817`|<br> <br>`(2,559,380)`|<br> <br>`(138,842)`|<br> <br>`3,818,197`|
||`Balance`|`Incoming`|`Resources`|`Transfers`|`Balance`|
||`01.08.22`|`Resources`|`Expended`||`31.07.23`|
||`£`|`£`|`£`|`£`|`£`|
|`DesignatedFunds:`||||||
|`SpecialProjectsFund`|`428,183`|`~`|`(6,000)`|`-`|`422,183`|
|`IntermediateLeaseFund`|`3,466,656`|`-`|`(433,332)`|`-`|`3,033,324`|
||<br>`3,894,839`||<br>`(439,332)`|<br>`a`|<br>`3,455,507`|
|`GeneralFund`|`1,404,373`|`1,919,850`|`(2,208,128)`|`“`|`1,116,095`|
||<br>`5,299,212`<br>|<br>`1,919,850`<br>|<br>`(2,647,460)`<br>|<br>`-`<br>|<br>`4,571,602`<br>|



## 



## 

## 

|`16`<br>`PrioryearSOFA`|||||
|---|---|---|---|---|
||`Unrestricted`|`Restricted`|`Endowment`|`Total`|
||`Fund`|`Fund`|`Fund`|`2022/23`|
||`£`|`£`|`£`|`£`|
|`Incomingandendowmentsfrom:`|||||
|`Donationsandlegacies`<br>`Investments`|<br>`79,000`<br>`1,840,850`|<br>`644,252`|<br>`93,689`<br>`50,285`|<br>`172,689`<br>`2,535,387`|
|`Total`|<br>`1,919,850`|<br>`644,252`|<br>`143,974`|<br>`2,708,076`|
|`Expenditureon:`|||||
|`Charitableactivities`|<br>`2,208,128`|<br>`635,799`|<br>`38,000`|<br>`2.881.927`|
|`Total`|<br>`2,208,128`|<br>`635,799`|<br>`38,000`|<br>`2,881,927`|
|`Netinvestmentgains`||`(170,700)`|`(1,547,860)`|`(1,718,560)`|
|`Leaseholdamortisation`|`(433,332)`|||`(433,332)`|
|`Netincome/ expenditure`|<br>`(721,610)`|<br>`(162,247)`|<br>`(1,441,886)`|<br>`(2,325,743)`|
|`Transferbetweenfunds`|<br>`(6,000)`|<br>`6,000`|||
|`Netmovementinfunds`|<br>`(727,610)`|<br>`(156,247)| `|<br>`(1,441,886)`|<br>`(2,325,743)| `|
|`Balancesat1 August`|`5,299,212`|`7,753,447`|`65,872,096`|`78,924,755`|
|`Balancesat31July`|<br>`4,571,602`<br>|<br>`7,597,200`<br>|<br>`64,430,210`<br>|<br>`76,599,012`<br>|





APPENDIX A
REFERENCE AND ADMINISTRATXVE INFORMATION
Trustee
Thc Drapers, Company
Priueipal office
Drapers, Hall
Throgmorton Avenue
Londo
EC2N 2DQ
Court of Assistants
Nicholas Ben¢e-Trower
David Ch81k
William Chamley
Jane Mather
Philp Ogden
Timothy Orchard
Thomas Harris
Stuarl Shilson
Patrick Beddows
Philip La￿Ord
Morng Shiach
Timothy Page
Richard Horner
Luke Savage
Andrew Ford
Ncil Redcliffe
Benedict Dunhill
Offl¢ers
Richard Winstanley (Clerk)
David SumneT (Dir¢Ltor of Finance)
Andrew Mellows (Director of Philanihropy)

APPENDIX A
REFERENCE AND ADMINISTRATtVE INFORMATION (continued)
Almshouse Managers
The Trust Partnership Ltd
6 Trull Farm Buildings
Tetbury
GIL)ucestershir¢
GL8 8SQ
Auditors
Saffery LLP
71 Queen Victoria Street
London
EC4V 4BE
Bankers
Lloyds TSB PIC
70-71 Che&psid¢
London
EC2V 6EN
Investment Advisors
Red]n￿on
Floor 6
l Angel Court
London
EC2R 7HJ
Property VAluers
Krlight Frank
20 Hanover Square
London
WIROAH
Scrurltlu Custodlan
RBC Investor & Treasury Services
71 Queen Victoria Sireet
London
EC4V 4DE
Solicitors
BDB Pitma￿% LLP
50 Broadway
Westminsl¢r
London
SWIHOBL
Surveyors
Epic Property Asset Managemem Ltd
3 Burlington Gardens
Londotl
WIS3EP

APPENDIX A
REFERENCE AND ADMINISTIL4TIVE INFORMATION (continued)
GOVERNANCE
Th¢ Drapers, Company is the Trustee and acts through its Court of Assistants ("the Court"), which
meets at least six times a year and thkes all policy decision5. Tlwee Standing Committees oversee
grani allocation. finance, and investments respectively while the njnning of the Almshouses is
overs¢¢n by the Court of Wardens. Further details are given below. Appendix B lists Members of the
Court and the Standing Committees.
The Court acts as the main Board of Trustees, setting policy guidelines, approving Financial
Statements, budgets and major investment decisions. D¢iail¢d work is handlcd by the CoTnpany's
Standing Committees and the Court of Wardens.
The Investment5 Committee, the Court of Wardens and the Finance and General Purposes Committee
usually mcet between five alld ten times 8 year, according to need. whilst the Charities Committee.
which is responsible lor thc allocation of grants, meets five times a year.
Once decisions have been taken and, if necessary, amended or fdtified by the Court, they are
irnpleTncnled by the Company's Officers
The operation of the Committees is reviewed annually by the Court for effectivencss against the
overall aims and objectives of ihe Company and its Charities.
Each year the Court elects al least one TJ¢W member from the Company m¢mtrtrship and they are
given specific training on trustee duties and obligalions by ihe Company's OtTi¢ers aiid external
providers before taking up their position. In addition, all members of the Court receive regular and
ongoing trustee trdining in relevant areas.

APPENDIX A
REFERENCE AND ADMINISTRATIVE INFORMATION (continued)
APPLICABLE COMMITTEE AND COURT TERMS OF REFERENCE
Court of Warden5
To oversee the day to day management of the almshouse Charities other than any financial or strategic
aspects relating io the almshous&s dealt with by the Finance and General Purposes Committee.
Investments Committee
To determine investment strategy for the Charities and to monitor and oversee the management of
inveslments including property, equities. Ix)nds. cash and other cl&8ses of investment.
To make recommendations lo the Court as to the all￿tIon of a55ets among differ¢nt clgsses of
investments having regard to risk diversification and where applicable besi practice for charities.
To keep the ￿rfOrmance of the Charities, invesknent advisors under review hnd to make
recommendations to the Court on their appointment, lenns of reference and fee5, Without detracting
from the Tesponsibilitie5 delegated lo the Clerk.
To examine the performance of the Charities, inv¢stm¢nts al intervals of not rnore than three months
and lo Teport lo the Court.
To approve all lettings, PUTchases and 5al¢s of investment property. renl revi¢ws and other properry
transactions and to make re¢omrnendation5 to the Couri for approval of all substantial investment
property transactions.
To keep the condition of the Charities, investment properties under review.
To ensure thai the Charities, investment properties are properly and adequately insured.
Flnance and General Purpnses Commlttee
To be the supervisory FK)dy for the financial str&legy and financial Control and keep the financial
arrangemenrs of The Company under review, including the preparation and presentation of accounts
and budgetsry control.
10
To prc5ent to the Court not later than iheir December meeting in ea¢h y¢8r ihc final audited Financial
Statements and A¢count5 in respect of Charitics for the previous year ended the 31 July duly reviewed
by the Chai'ities, Aiiditor5.
To review and advise on the Charities. compliance with all legal, audit and regulalory requirements
and best practice.
12
To ensure that risk asSessM￿ts for the Charitie5 are duly carried out and that recommenda¢ioThs are
implem¢nted.
13
To set the Charities, granl-making budgets in each Company Year, Subject to the approval of the
Court and generally to review and advise on all matters relating to the financial strategy and financial
arrang¢ments of the Charities.

APPENDIX A
REFERENCE AND ADMINISTRATIVE INFORMATION (continued)
APPLICABLE COMMirfEE AND COURT TERMS OF REFERENCE (continued)
Charltlts Committs¢
14
To keep the objects of each Charity under review and ensure that they are up to date and rel¢vant.
15
To review grant making policy (including themes for support) and procedure5 at least every three
years and to make r¢cornmendation5 to the Court.
16
To review the provision, value and administration of Continuing grants (including block grants) at
least every three years.
17
To manage the disbursement of all charitable monies and ensure that effe¢tiv¢ us¢ is mad¢ of
charitable income.
18
To consider and approve any gran15 UP to £S0,OIKJ for each Charity and lo recommend to ihe Court
any grants exceeding £50,IKH), provided that no grant shall be paid to the relevant beneficiary until the
minute5 of the Charities Committee hav¢ been received by tlie Court.
19
To allocate charitable expenditure within the overall grant making budgets approved by the Court.
20
To receive reports on any grnnts mad¢ by the chairman under delegated authority.
21
To evaluate and monitor the effectiveness of all charitsble aclivities.
22
To oversee the work of the Thomas Howell Education Fund for North Wales (THEFNW) and the
Govemors of Sir William Boreman Foundation.

APPENDIX B
MEMBERSHIP OF STANDING COMtTTEES
YEAR ENDED 31 JULY 2024
Court of Assistants
Charltie5
Investment
F&GP
Nicholas Bence•Trower
David Chalk
William Charnl
Jane Mather
Phili
Timoih Orchard
Thomas Harris
Sluaft Shilson
PatriLk B¥ddows
Phili
La￿￿ord
Mora Shiach
Timoth P
Richard Horner
Luke Sava
Andrew Ford
Neil Redcliffe
Benedict Dunhill
AddltlonAI Commlltee Mcmbers
lan Bickers
Bhumbra
Kaih¢rine Burns
Patricia Gallan
Michael Hu
hes
uentin Marshall
Victoria Slia
iro
Graham Turnnck
Andrew Youn
er
Llve
men & Freemen
Legend..
Chairman
M = Member

APPENDIX C
CHAIUTIES ADMINISTERED BY THE DRAPERS, COMPANY
YEAR ENDED 31 JULY 2024
General Charltles
The DrdFrs' Charitable Fund
The DraFKrs' Charitie5 Pooling Scheme
Alm$house Charlty
The Drape¢s' Almshouse Charity
EducAtIoD Ch8rltle$
Francis Bancroft's Trust
Thomas Howell's TnLqt
The Thom&8 Howell's Education Fund for North Wales
Sir William Boreman's Foundation