REGISTERED COMPANY NUMBER: 00911219 (England and Wales) REGISTERED CHARrrY NUMBER: 253425 Report olthe TrU￿et$ *Thd Fin*nci•l Statem¢ots for the Y¢ar Ended 31 Mareh 2024 Cor The York Gl4ziers' Trust Clive 0￿￿ LLP Chartered Ac¢ountsnts & S￿￿tory AudiioTS 140 Coniscliffe Road Darlingron County Durham DL3 7RT *AODART3U" 0811012024 COMPANIES HOUSE #76 Th¢ York Glvi¢rs' Trnst Contents of the FSnaDcia] St*tements for the Year EDded 31 March 2(124 Page Report of the Trustees Report of the ludependetht Audi¢tsr5 St¥terneDt of FiThanci#l Activ5ties io BxlAn¢¢ Sh¢et C*$h Flow St*temttht 12 Note5 to the C￿￿ Flow StatemEllt 13 Notes to the Flnanclal Statenwnts 14 to 24 The York Gl*zi¢Ts' Trnst (Registered uvmber: 0091J2J9) Rtprt of the Trusltes for the Y￿r Ended 31 M*r¢h 2024 The Trll5tees. who also Directors of the cljarity for the puryos¢s of the Companies ACL present report (in¢ludillg Diwtors, report) with the fitWLciai stalett￿n[S of the Charity for the year ended 31 March 2024. The fLn2n¢ial Sth￿m¢nts comply with th¢ Cbarities Act 2011, the C(ryaDies Act 2(K16, the Memordndum and Articles of A5socJatiort. and Accounting and Reporting by Chan"ties." StrtrrneDt of Re￿mm¢nd¢d Pra¢rice applicable to Ch￿IlleS preparin8 their accounts in accordance with the Financial iiew)rtiog Stsndard applicable in the UK and Republi¢ of Ir¢laud {FRS102) effeciivt l January 2019_ OKVECTIVES AI4D ACTIVITIES Objeftives 4nd Aim5 The objeciivt of the Tnjst ¢Olliinu¢s io be the coos¢ttvation aDd pr￿er￿￿tion of stained glass of historJ¢ai or anisii¢ mportatlce. th¢ ¢onduct of appropria* research pursuit of these aims, tbe provision of excellent Èrdinin8 in the discipliDe alld ihe PlOiDOliou of publi¢ appre¢iaiion of th¢ medium of Stained glass. The Djain activities of the Tn￿t have continued io b¢ the CQDseryauon of hj'storic staillcd in public aDd Don-public buildings the UDiied Kin¥dom. The principal ¢lieni in the period under review h&5 been The Chapt¢r of YorK for work tt) windows ID the Mioster. Public Benefit The charity's al￿￿ and achievemenls are set out within this report. The aetivitics described have been undertaken to rthu the T￿￿t'S charitable purpose for the public beDefiL The Trusws have due iegaid to public benefit guJdan¢e published by th¢ Charities Commissiott and the trusws have paid due rewdrd to thi5 8ULdance ill decidiDg what activities th¢ Tn￿t should undertakc. ACHIEVEMENT AND PERFORhiANCE New Leader5bip of the Board Otl 26 April 2023 Mark Hosea FRICS JOiDed the board as its cbair. Mark firs( worked with the YGT in ill"5 capacity as di￿[0¥ of the Heri(a8e Li)ttery Funded York Miiister Revealed ptojec¢ whell be regularly attended meetillg5 of the Easi Window Advi50ry Group. After leading a major Lottery fimded projeci at Cantert)ury Cathedral, Ile has recently thken up th¢ role ￿ Director of Estates and ConseThation it the Old Royal Naval College in Greenwich. York Minsttr We tlave contirtued work on panels from the huge 15tFkcenw St Ci]thbert window (57), while progTe55ing the Twtnry Year Plan through the con5trvation and proteciion of windows of 14th and I 5th century dale from the south choir clerestory {S3, S4, S5). The YGT teatn also CODtribu*d to tht sllcces5fi￿ refiwbjshnxnt of the Minster Rtfectory, wlllch was op¢n¢d by HM The King on Maundy Thursday 2023. External Clients Highlights have included th¢ conservaiion and protection of two windows of 1623 from the chapel of Lincoln's ix London and finher phases of wod( in the Old Library at M¢rton Colle8e, Oxford, where ground-breaking UV resistant glass is providing extra layers of environtnevtal protection. In April 2023 the unique 15th4enDJry Creation window i Great Malvern Pnory Wds reinstalled with the benefit of Environmental Protective glazing IEPG), it perfornian¢e now the subject of ongoing envLronmental monitoring. In SILU cleaning and repair of Ihe Sumptuo￿ Victorian 812zing of Rochdale Town Hall has continued. with art EPG trial undertsken Ln the Great Hall. The YGT has also been enrrnsied wi¢h a WLndow from th¢ chapel of Giggleswck School. which will benefit fr(Mn EPG wthen It returns to the ¢h8p¢l. New work has Jncluded a jcwel-li8ht LKU]us wirtdow for the eau v411 of Acaster Malbis church close to York. and a new set of nine heraldic panels commeft￿rating the TT¢asurer5 of the Honourable Socitty of Lincoln'5 Inn, dedicated at a four hundredth anniv¢r5ary festal evensong in the chapel on 18 October 2023. York Mln$ter Centre •f Exc¢lleDc¢ The YGT has witnessed at c105e quarteTS the developmEnt of the Technology Hub. one part of the new Centre of Excellence in Heritage Skills, which will include a new wotkshop exLension for the YGT. The new facilities foT the Minsier sione Ydrd and the YGT will be operational in the summer of 2024. Staff Successes Sophie Gwynrt has been rcco8niscd as an Accreditcd Conscrvator Restottr (ACR) by ICON. lrt September 2023 YGT dire¢toi Sarah Browil wa5 awardtd the pre5tl8ious Royal Warrant Hold¢r5 Awiation Plowden Medal for her outstanding contribution to Stained 8Sa&s con5ervatson. Page I The York Gl*ziers' Trnst (Regislered number: Q0911219) Report ol tht Trusttts for th¢ Yt•r EDded 31 M*r¢h 2024 FTh ANCDL REVJEW The iD¢ieas¢ m the fimds for the year amouDted 10 £84.789 (decrease in 2023: £21.178). STRUCTURE. GOVERNANCE AND MANAGEMENT GovtrDiDg document The charity is controlled by its governing dOCw￿e￿L its me￿Or8nd￿￿ arjd Articles. and COOSLiWt¢$ a limited company. limited by guaTaKttr4 as defioed by the Compaoies Act 2(kn. The Tn]stees, who mcet regularly, are responsible for the tnan2g¢m¢ni of the Tn4L Day to day mang¥ement of the charity ljas been delegated by Tr￿￿teS to the Director. Sarth Brow Rttruitrnent and 4ppointrnent of neT¥ trustee5 The Articles of Association sp¢cify that the tsujnber of TnLSlte5 u[￿ incoTporntion would be ti8ht, but that the Council of Mana8emeni rnay from titne to time register an increase in metnber5. Up to four o(th¢ Trust¢¢5 b¢ llomiDated by Th¢ Chapter of York Currently one Tr￿Slee is a Cbapter appointee. Key managenwnt rMuner4tion The trusiees collsider the Senior Management Tvdm to forEn the key management penollnel of the charitable ¢ompaDy. in cbarge of directing. ¢ootrolliD& n￿trng and operaiing tbe cbari(abl¢ company on a day to day basis. The pay of the senior staff is revstwed annually. In view of the Da￿re of the charitable Compally. the tNs*es bencbmark against pay levels in similar Ch￿ltieS and Sthined gla￿ studios. Related partles One of the principal clients of the Trnsi is The Chapw of YoTk, a t￿Y which h&5 the power to nominate TrUs￿eS of the TrusL PaEe 2 The York GIAzlers' Tryst (Regi5ter¢d number: 1109112191 Report of the Trnstees for tbe Ye*r Ended 31 March 2024 STRUCTURE, GOVERPIANCE AND MAI¥AGEMENT Risk management Tbe Tru51ces bavt a duty to ideDtify attd revitw (be risks 10 which thc charity 1$ exposed and to ¢uswe appropria ntrols ar¢ itt place to provid¢ rt&sot)able assuraoce again￿ fraud and error. TILe Trustees bave r¢viewed tbe Tnajor risks to which th¢ c]wity is ¢xposed. Where sigtuficant rjsks have beell id¢ntifi¢d, 8ppropriate 5trps hav¢ been tsktn to Mit1￿(e these. The board of Truste&s take reasonable st4K8 to ejjsure that Th¢ YNk Glaziers. Tnjsi operates p)lici¢s thai ensute the followiDg.' Tb¢ York Glaziers, Tnjsi is (yentillB efS¢iendy aÉ)d ¢ffe¢tiveAy An a¢¢ord￿¢ with the York Glaziers. TA￿1,$ staled purpose and obje¢tives. Th¢ York Glaziers, Trust's assets are safeguarded againsi Un&U￿riSed use or disposition. Proper records. iDcludiDg financial records are maintsiti¢d. Financial iDftsrn)atioo used within the charity or for publi¢ation i5 reliable. The York Glaziers. Trust coJnpiie5 with relevanl laws and regul*ions. An ann￿al budgd is approved aDd any variat]ce is reported and subsequendy agr¢¢d. Policies ar¢ approved. Key perforrnance indicators are reviewed aThd evalua¢ed. Delegation of authority alld segregatiOD of duties to the direcwr and stsff ￿ ar¢ appropri* for th¢ siz¢ aud nawre ofthe orgalli5aiioIi. This is achieved by-. (i) GovernA*te The Trust strives for excellellce from its kn.ghly trained and commirted staff and has a 5(rong working relationship with The Chapier of York MiLstrr Whic￿ in Djrn. have stated a comtrrittneoi (o coDtinue eTJWloy￿g the Tn]sr on the Minstels historic glass. The Chapter of York pa>3 the Trt￿'S Invoices monthty and cashflow from other customers is nmin￿1￿ed by inrerim pa￿￿entS on a monthly basis. The wages and 5alari¢5 are pro￿55ed cvery month by 8D Outside agery. so this major item of eXpe￿A]n￿e eacb month is professional and distiplined. Th¢ costs of ¢a¢h project ar¢ maintsined OD a bespoke, in1m)￿ Cosiing system. Budgets are sei for tb¢ y¢ar and analy5ed each quarter. The Trustees oversee the wknol¢ busiJ)ess process at th¢ir rneetin85 v/hicb ar¢ a mini￿ of three titt￿ per year. lil) Staff policy All $￿ff are issued wtth the 'staff battdbook. thai dtfmts tmployecs. ri8hLS and obligauons whilu in employment with Tbe York GLaziers' TnL5t. It is updaied as and vALcll SrnDJrory re8uiations 3￿j etllployees. conditions of employmeoi change. Staff appraisals with the DiT¢CIOT and the relcvant staff are conducted anm￿lly. This coveTS, an￿ngSt otheT4 training and continuiug personal developtncnl {CPD). Staff ￿￿etIngS are held as appropriatt but a minimum of four times PEr year. lili) Reserves policy The Trust¢es h8v¢ ¢onsid¢red the level of reserves thai the charity will require to $￿taIn its operati¢)n5 in the futur ¢xcluding those funds rEpresented by lan￿ble fixed assets, and have established a policy whereby free reserves held by the Charity should exceed 24 rM)nths salarie& ￿1¢h equa￿ io appToxiMa￿lY £l.Im Pag¢ 3 The York Glaziers, Trust (Registered numbtr: iK1911219) Report of the Tru5¢ees for the Yur Ended 31 Mxr¢h 2024 STRUCTURL GOVERNANCE AND MANAGEMEIYT At preseni, free reserves (excludi￿¥ those represenied by rangible f￿ed assets) arnounc ￿ £1.621Tth. This is £0.521m hixher thart targeted. bui will be called upon ¢0 support the YGfs Ctststribuliotl 10 the developmeni of the Deangate premise5. part of the wider pro8rartune of work Involved ID the cteation of the Minstrvs Centre of Excellence in heritage crafis (see page 2). io wlu.ch ibe Tnjst Is a parther. {iv) Grant making policy Grants payable are charged in the year wheo tht offer Is cooveyed to the rteipielli except in those cJses ￿ere the offer is conditional, such grattts beitt¥ r¢￿S￿S￿ as eX￿ditUre wheD the CODditiolls attathing are fuifjlled. Iv) Conrlusio The Tnjsiees have txamtn¢d the rnajor business and operaiional nsks whtch the cbarity faces and confjrni thai systelljs bave b¢¢u ¢stabli5bcd to enable regular reports to be prLwJuc¢d so that De¢essary steps can b¢ taken lo manage th¢s¢ risks. REFERENCE AND ADMINISTRATIVE DETAILS Rtgistered Company number 00911219 {ED8land and Wale5) Registered Charity Dumber 253425 Regi$t¢red office 6 Deanga YORK North Yorkshire YOI 7JB Tru$tee5 Ms Noirin M Carnxjdy (Chair) Mr Mark Hosea FRICS (Chair) Mr David Raymer CBE Mr5 Carole Milner ACR MBE Dr Ivo Ra￿h ProfessoT Christopher Norton FSA Mrs Linda Baines (Re$l￿ed 26 April 2023) (Appointtd 26 April 2023) (Resigned 06 September 2021 } (Reappointed 06 Jw)¢ 2022) David PodnK)re Mr Orlando Bridgeman ProfessoT Sarah Brown FSA FRHIMS Director Professor Sarah Brown FSA FRHi5 Compiny Secretary Professor Sarah Brown FSA FRHi5tS Sensor Stat￿tOry Auditor Christopher Beaumont BA (Hons) BFP FCA fknA Auditor5 Clive Owen LLP Chartered Accountants & Statutory Auditors 140 Coniscliffe Road Darlirtgton County Durham DL3 7RT Page 4 The York Gl#xlers' Trthst (Registered Mumbtr: (M191J219) Rtporl of the Try$tttJ for the Yur Ended 31 March 2024 Ballker5 Barclays Ballk Pl¢ 1-3 Parliottwil Str¢et York YOI 8SE Key M*nagemeNt Personnel Professor Sarah Brown FSA FRHisiS- DIreC￿T Dr Marie Groll - BusitK&% Maoager Investment managers Maunby Inve5ttnelll Managemeni Ltd Caoaccord Genuity Wealth Managell*nt STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees (who are also the directors of The York Gla2iets' Tn￿1 for the putyoses of company law) are r¢sponsibl¢ for preparing the Repon of the Trnstees and the financial sr2*ments in accordance with applicable law and United 'Dgdorn Accounting Stsndards [U￿l￿d Kingdom Generdlly Accepted Accounting Practice). Company law requires the trustees to prepaff financial 51atements for e4ch fiDaDCLal year whicll give a true alld fair view of the state of affairs of th¢ charitable cornpany and of the in￿Mi￿g resource5 and application of re50urce5, illcluding the income and expenditure. of the charirable Company for thai period. In preparins those financial sratemellts. the trnstees are required to select suitable accounting p)li¢ies and then apply them consistently, observe the methods and prÈnciplc5 in the Charity SOR￿.. Duke judgements and estimates tba( are reasonable and prudent. prepare the fittancial ststemcnts on the goiDg concern basis unless it is inapwropri3ie to preswne that th¢ charitable compaoy will continue in business_ The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the fll]aDcial p¢)silion of the dJarit3blc company and to enable them to ensure thai the finan¢ial siatrtMents comply wth th¢ Compani¢5 Act 2006. They are also responsjble for safeguarding the assets of the charitablt company and hence for takL'n8 reasonable steps for the prevention and detection of fraud and othcr irregularilies. ST ATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS So far as the trustees ai¢ aware, there is no relevant information (as defirted by Section 418 of the Conyanies Act 2(X)6) of which the charitable compan￿5 auditors are unawdrr. and each truslee has taken Bll tht sltps thai they ought to have taken 15 a trustee in or(kr to rnake them awar¢ of any audit infornmtion arml to establish that the charitable companys auditors are aware of that infomlaiion. AUDITORS The auditors. Clive Owen LLP, ar¢ d¢¢nKd to be reappointed under secti(m 487{2) of the Companies Act 2(K)6. Approved by order of the Ixjard of trtsstres on................ . and si8n¢d on its b¢half by: M Hosea- Tn￿tee Pagc 5 Report of the Independent Auditor5 to tbe Members of The York Glazrers, Trnst Opinlon We hav¢ audit¢d the financial 5ts1¢ments of The YO￿ Glaziers, Trust (th¢ '¢hari¥bl¢ for the year ended 31 Marcb 2024 which comprise the sralett￿t of Finallcial Activities. the Balauce SheeL the Cash Flow SratrDKnt and notes to ihe flnallcial siateDKnts, including a summary of significaui attowitiDg policies. Th¢ finaDciai re￿rtill8 framework that ha5 b¢¢n 4)pli¢d ill their prepardiion is applicable law aod United Kiugdom Accounting s￿Ddards (United KEllEdom Generdlly Accepted Accowiung Practice). Itl our opinion the financial swenxents". give a true and fair view of the $tst¢ of the charitsble Companls affairs as at 31 March 2024 and of its incorning restsurees and application of resources. including its itt¢ome atsd expendithtre. for the year then cndcd. hove been properly prepared in accordance with Urrited Kingdom Generdlly Accepted A¢counLing Practice. aDd have been prepared ill accordanct wAth the rtqu]remellts of the Companies A¢t 2(Kl6. Basis for opinio We cotlducted our audit ID accordaDCt with International Standards on AudJ"tkDg (UK) (ISAS (UK)} aod applicable law. Our rcspowibilities under thost siandards fi￿er described iti the Audilor5' rtSPODsibilitie5 for the audil of the f￿anCIal statements section of our report. We art independent of the charitsblc corDpaDy ID ac¢ordaD¢¢ with tht ethical requiretnents that are rclevant ¢0 our audit of the financial statrments in the UL ￿cludi[￿B the FRCS Ethj'cal Standard, and we have fvlfill¢d our other ¢thi¢al r¢skX)osibJli(i¢s itt a¢¢ordance with these requirements. We beknevc that the audLt evidence w¢ have Ob￿Illed is Su￿J(lent and appropriate lo providc a basjs lor our opinion. Conclusions relxting to goiDg coneerD In aLEditing the fujancial statemellts. we have coocluded thar the trus*es' use of rbe gowg ¢oo¢¢rn b&515 of accounting in the pr¢parauon of th¢ f￿2￿121 5ta*m¢nts is appropriat¢. Based on the work we bave peTfomied, bav¢ noi id¢nnfi¢d any nywial wi¢enainties relaiiDg to evenL8 or condiiiolls thaL individually or collectively, may cast SL8nifJcant doubt OD the charitable coMpall￿$ ability io conunue as a going coDcern for a period of ai leasi fftlve moDths from when the fu)ancial sratrm¢nts are 8uthoris¢d for issue. Our responsibilities and the responsibililies of the trustees with ffspeci to going coocern are d&5cTib¢d in the relevant s¢ction5 of this report. Other information The trustees are Tesponsible for the othcr Lnformation. The other irbfOm￿tiots comprises the inf0M￿tion included ID the Atu)ual Repo￿ other th8n th¢ Snan¢ial srar¢m¢Dts al￿ our Report of th¢ IDdepeDdent Auditors thereon. Our opinion ort the fitJanciAI srat¢nJettts does not cover the other inforniation and, cxcept to the extetti otherwise explicitly stated in our report. we do not expres5 any form of a&%uraDce conclusion thereon. In conncction with our audii of the financial statemtnts, our responsibility is to read the other ULftJmbatiotx at)d. it) doiug 50, cof15Lder whether the other inforrnatioD LS materially inconsisieut with the fJnan¢ial 5r21¢m¢nrs OT our knowledge obtained in th¢ audil or otherwise appears to b¢ maL¢riaUy miss(attd. If we identify such material inconsJstert¢tes or apparent material nu55ratemcDts. we are required to determ￿¢ whethcr gives nse to a mai¢rial misstalemellt the f￿ancial stat¢Jnellts themselves. If, based OD th¢ work we have ptrfollned, we cotKludE that there is a matertal rni55taternent of this other intortDatii)n. wt are requ￿ed to Eq￿rt thai fact. We have Dotbing ¢0 report Èn this ￿gard. Opinion5 On other rnatter5 prescribed by the CompaDieS Act 2006 In our opinion. based ots the work undenaken in the cowse ofthe audil. the inforn)ation giveD in the Report of the TnkStees for th¢ fwan¢ial year for wkn.ch the fIna￿cial 5tat¢nKDts are PTep8red is consistent with the fir]an¢ial ststeTnents' and the Repo¥r of the Tnutees has b¢¢n prepared in accordaD¢¢ with applicable legal requirell*nts. Page 6 Report of the Independent Audilors to the Members of The York Glaxiers, Trnst M74tters DD whith we #rt required to report by exeeptioD In the lighi of the knowledg¢ and understanding of the chan"tablc company a￿j etivironment obtsit)td in the course of th¢ audit. we hav¢ not identified material misstatcnmts in thc Rewjrt of th¢ Truslees. We bave Dothing ¢0 report in resp￿[ of the fouowing mallers whete the C¢)tYyaDies Act 21X)6 requires us to report to you if. in our opinion.. - adequate accoutLtin8 records have Dot bem kepi or re ad¢qua* lor our audit bave not rec¢iv¢d froni branche5 not V151ted by ￿$. or - the financial sra*m¢nts are not in agree[[￿t with the accouDfing tecords and rewms: OT - certain disclosu￿5 of trustees, r¢￿ulle￿tioll specified by law are not made,. or - we have not received all the infom)arion attd explanatioDs we require for our audit- or - the ¢tustees were not eniltled to thke advantsge of the small ¢ompanyes exemption from the reqUirell￿1t to prepar¢ Strategic Report or in preparing the Report of the Tn￿tte5. Responsibilities of trnstee5 As explaiDed tDor¢ fully in ihe Ststemetlt of Tnjstees. Re5ponsibilitie5. the trustees (who are also the direc￿r$ of the char21able CDtnpauy for tb¢ purposes of company law) are responsible for the preparaiion of the financial 5t3tem¢rt15 and for bem¥ s#tisfi¢d tbat they give a truc and fair view. and for wch i0￿M21 control as tht tsikstees deierniine 15 necessary to cnable the preparation of fu]atJ¢ial stslttnents thai are free from material mi￿lateMen1. whether thje to fraud OT error. ID preparing the fLDancial slatenmts. the ttust¢es are responsible for assessing the charitable Company's ability to continue as a goitig concen4 dixlosin& as applicable. rnatters relatrd to goirjg ¢oD¢ern and tht going conccm basis of accountin¥ Unle￿ ihc trus*¢s either inletxd ￿ liquidate the cbarhtable company or to cease opcrdtiolls. or have no realtstiG altettlative bui 10 do so. Page 7 Report of the Independent Auditors to the Member5 of The York Glaziers. Trnst Our respottslbillti¢$ for the *udit of the fin*nci*l stAtemeAts Our objectives are to obtaill ieasonable wuronce aix)ut whether the finattcial s¢a*menls as a whole are free frot alerial uu551atcmeni whether dut to fraud or em)r, alld to iswe a R¢kKJn of Ihe Independent Audilor5 th11 includes our opinion. ReasoDable assuran¢e is a high level of a&surdDce. but is ￿)1 a guardnlee that an audit condu¢i¢d in 4cc(Trrdance with ISA5 (UK) will alwdys detect a material misstaomellt when il exists. Misstat¢n%nts ¢aD arise from fraud or erroT and are COD5idered Ma￿la1 if. individually or in the aggregate, they could rc4sollably be expected 10 IJJfiuen¢¢ the economic decisions of users thkeD ott the basis of these finaDcial 51atements. The extetst to which our proceth]res are capable of d¢wting ifTegulariiies. Inc￿dIng fraud is dciailed below. Irregularities, including fraud, are instances of Th)n-¢omplianc¢ wth law5 and regulations. We design procedures in line with our resportsibili¢ies. io delec¢ ma¢cTial missta*ments in respect of iTregul¥nties, includill8 fraud. Our audit must b¢ altrt to the risk of manipulation rjf the fuwwial stat¢tt)ents ond seek 10 understand tbe incellfiv¢s alld opportunities for management io achieve this. We undcrtske the following procedurcs to idcotify arHI resporyd ￿ thes¢ risks of noll-c0mplka￿c.' UtLder5tanding the key legal and re¥ulaiory Irdmework5 that arc appljublc to the Company. We communicated hd¢DtifiEd laws aud re8uiations throughf)ut the audit t¢ao) and rtmaintd alert to any indications of DOll-compliatLce tbroughout the audil. Wt deterrniDed the ￿m￿t 5ignificaD¢ of these 10 be financial reportin8 legi51atjOD, charity lew51atiorJ. iaxatioll leg]slation. health & safety, 8Dd en)ployn￿nI law. Eoquiry of directors and tDanagemeDt as to policies aDd procethires Io ensure compliaD¢e atyd atty known t15tances of Don-compliance Review of board minut¢s aJx4 corr¢sFKJn&n¢e with ￿gulators. Enquiry of director5 and ttwiagezueDt as to areas of the fiDancia] sts*ments sus¢eptibl¢ ￿ fraud and these risks ar¢ maDaged. Ch2lltnging manag¢m¢Dt w ￿timat￿ &S5ullytions and judgements made ill the prepararion ofthe finaD¢ial statements. including depreciation and amortisation of ￿ll￿ble attd illtangible fJx¢d assets and revetvje recogniiion. Identif￿￿8 and testing utwsual journal etttrie& wittb a PMrt]culat focus 00 rnanual journ81 entries. Througkn these p￿￿ed￿re4 we did not become avJre of actyal or susp¢cied noD-conyliance. We planned and perf0ffl￿d our audit in accordance with auditing standards but owing to the ittherent limitaiioDs of procedures required in these oreas. there is an unavoidable risk that we may noi bave detrc*d a material mi8siateJnent in the accounts. The further removed noD40mplbance with laws and regulaiions is from the events aod transactyons reflecitd in the fjnancial staiemellLS, the less likely we would becorne awdre of IL The risk of not dewting a material mi55tatement due to fraud is bi8her than the risk of not detecting one resultiDg from error. as fraud may involve collcealtnent. collusion. forgery, misrepresetstations. or ovettide of Internal CODtrols. We are noi responsible for preveniin8 non-compliaDcc and cannot be expected to deteci non-compliance with 211 laws 2nd regulations. A fijrthtt dewiption of ow rtspoL%ibilitics for thc a￿11 of the finartial statell￿nts is located on the FiDanctal ReportitJ8 Council's website at www.frc.org.uklauditorsTcspousibilitses. This descripuon fornis part of our Report of the It)depend¢nl Auditors. Page 8 Report of tht l*depeftdent Auditors to the Members ol The York Glaziers, Trust U$t tsf our report This report is made solely to the charitable companls membets. as a body, IA accordance with Chapter 3 of Part 16 of tbe compani￿ Act 2006. Our audit work has been undertaken 50 thai we might state to the charitsble CornpaD￿S mcrDbers those maueTS we are required to stste 10 them in an gudiiors, report aDd for nts other purpose. fo the fullest extent pemiilted by law. we do not accept or assume responsibility io anyone other than the ¢horitsble couspaDy athd the Charitable company's Members as a body. for our audil worK for tbi5 fqK>r4 or for the opinioDS we have forn)ed. Christopher Beaumont BA (Honsl BFP FCA DChA (Senior Statutory Auditor) foT alld tsn behalf of Cltvt Owen LLP Charter¢d A¢¢ountattts & Statutory Auditors 140 Coniscliffe Road Darlington Couttty Durbam DL3 7RT Date.. Page 9 The York G132i¢rs' Trust s1#ten￿nt of Fiti*ndal AttfvSt5es A¢4)rpoNtsng Inet)me Ind Expenditure Aecount) for the Ye&r Ended 31 Marth 2024 2024 Unrestricted nds 2023 Total funds Noies INCOME AI¥D ENDOWMENTS FROM Donatiotss and legacies 58.159 30,379 Charitable activitie5 Work Done- Dean and Chapter Work Done- oth¢r ¢li¢tLts 275.742 448.755 391.366 442.754 tllvestment income 35,223 23.207 Tot41 817,879 887.706 EXPENDITURE ON Raising fi￿d5 6.350 4.107 Ch*rit&ble &ctivitie5 Charitable activities 747.554 813.314 Other Tot41 753.904 817.421 Ntt 8ain51llosses) on investments 18.957 (49,693) NET INCOME Other recognised gxinsl(10sses) Gainsl(105ses) on revaluation of fixed assets 82,932 20,592 1.857 (41,770) Net movement funds 84,789 (21,178) RECONCILJATION OF FUNDS rotal funds brought forward 1,563,522 I,S84.700 TOTAL FUNDS CARRIED FORWARD 1.648,3 11 1,563.522 The notes form part of these financial stsrenKnts Page 10 The York Glatltrs. Tr•s¢ (Registered iM)911219) BAlan¢e Sheet 31 Mxr¢h 2024 2024 Ullr￿trIc￿d nds 2023 Total fi￿dS Note5 FIXED ASSETS Tanwble assets IuvcsthxeDts 14 15 26.667 948.486 48,628 920276 975,153 968.904 CURBINT ASSETS Sio¢ks Debtors Casb at bank and in band 16 17 102.412 64.916 569,500 81.445 130.850 456.924 736.828 669.219 CREDITORS Amounts fallitlg due withiti on¢ year 18 {63,670) (74,601) IYET CURRENT ASSETS 673.158 594.618 TOTAL ASSETS LLSS CURRENT LIABILITIES 1.648.311 1.563,522 TrIET ASSETS 1.648.311 1,563,522 FUNDS Unr¢stri¢t¢d fiLnds 20 1.648.311 1,563,522 TOTAL FUNDS 1.648,311 1,563,522 These financial stat¢ments have been prepared in ac￿rdar￿e with the provisioD5 applicable to Charitable Companies subject to the small companies regim¢. The fjnancial statemenrs were approved by the Board of Tn￿tr¢S and authorised for i55ue . and were ￿gned on its bebalf by. on M Hosea- Trnstee The n(Ae5 fLwm part of these finan¢ia] srat¢mcnts Pag¢ 11 The YorkGlaiiers' Trwt C•sb Flow Stit¢in¢Dt for tbe Year Ended 31 March 2024 2024 2023 ￿￿eS Cash fiow5 from operatlng ActlvArfes Cash generaied from operaiions 87.424 35.816 Net cash provided by operatin8 activilies 87.424 35,816 Cash flows frorn investing activities Purchase of tangible flxed assets Purchase of r￿ed asset investmen Sale of [￿ed a&sel illvesttnet lttierest received Dividellds received {2.675) (352.315) 344.919 3.846 31,377 (3.9231 {528,686) 473,723 514 22.693 Net casi] provided byl{used ill) illvesting acEiviiies 25,152 (35.679) Change In eash CAsh equIv￿eMts In the reporting period Cash and e85h equivalents It the beginning of the reporting period 112.576 137 456,924 456.787 Cash and Cash equivaleDts at the end Of the reporting period 569.5 456.924 The notes fo￿ part of these finartial Stalen￿ts Pag¢ 12 The York GI￿lers. Trnst Note5 to the Cash Flow Stalement fw the Year Etsded 31 M*rth 2024 RECONCILIATION OF NET LNCOME TO NET CASH FUIW FROM OPEK4TtNG ACTIVITIES 2024 2023 Net income for tbe reporting period (*5 per the StstewDt of FinAn£ial Activities) Adju5ttnents for- Depreciation Charges (Gainyios5es on iDvestments Interest received Dividends received Realised (gainsllto&s¢s Oll i1￿¢5￿￿nts {Increase)Idecrease in stocks Decrease in debtors Decrease ill crediiors 82.932 20.592 24.636 {18,957) (3,846) {31377) 34,307 49.693 15141 (22.693) (49,693) 16.684 20.455 (33,015) (20.967) 65,934 (10.931) Net cash provided by operntions 87.424 35.816 ANALYSIS OF CIIANGES IN NET FUNDS At 1.4.23 Cath flow At 31.3.24 Net cash Cash at bank and in haDd 456.924 112.576 569,500 456.924 112,576 569.500 Tot*1 456.924 12,576 569,500 The Th)t&% forni part of these financial staternenrs Page 13 The Ytsrk Gl*zitrs' Tnut Note5 to th¢ Flnandal Statemenll for the Year EDded 31 March 2024 COMPAPIY INFORMATION The York Glazier5' Tr￿t is a cljarithle company. limited by 8uarantec. inCor￿rated itt England & Wale5. The registered office is 6 Deangate. York Nr*th yO￿$hI￿C YOI 7JB. The charitable ¢ompaDy i5 limi*d by guarantee of its me[1￿cIS. the tsustees named iti the tsijsrees report. to contribute to the assets of the cbaritable compwry ]n the eve￿ of winding up in an an￿Unt uoi to exceed £1 p¢r member. ACCOUNTING POLICIES Basis of preparing the fJnan¢ial statements The fiDancial 5taletllents of the charitable company. which is a pubhc bellefit eouty FRS 102, have bcen pr¢par¢d iti a¢¢ordaoc¢ with the Cfftwiii¢s SORP {FRS 102) 'AccouDtiDg and Reporting by Cbarjues". STa￿tt)ent of Recornmended Practice applicable lo charities preparing their accounts in x¢ordan¢e with th¢ FiDancial Reporting Standard applicable in the UK and Republic of Ir¢land (FRS 102) Icffeetive l January 2019),. Financial Reporting Stsndard 102 The Financial Reporttng Stsndard applicable ill the UK and Republic of eland, and Comparjies Act 21K)6. There weie no maierial departures froll) the standard. The financial State￿eThts have beell prepated under the his￿riCal cosr conveouon with the exception of iovestments which are included ai markei value. as modif￿d by the revaluation of cen&iD assets. Ineome All income 15 recognised in the Sra*ment of Financial Activitie5 once the charity has entL(lemenr ￿ the fiu]ds, it is probable that the income will be received and the an￿rtI w be nKasured reliably. Revenue Recognition Revenue frotn the rendering of services is recwised by reference io the sthge of ¢ompl¢tioD to the exient that the outcome of a contract can be estimaied reliably. Expenditure Liabilities are recognised as eX￿nditUre as a5 there is a legal or constnJ¢iiv¢ obligation committing the ¢Jhariry to that expendinlre, Ai is prob2bl¢ that a trat)sfer of economic bcncfits will be required in settlett)ent attd the amount of the obligaiion caD bc measured reliably. Expetmliture is accounted for 0￿ at) a¢£n￿lS basis and bas been classifjed uftdet headings that awegatr all ¢ost r¢lai¢d ￿ the category. Where costs caniiot be diiectly attribut¢d to parti¢ulaT h¢adings th¢y hav¢ allocated to activitics on a basis consist¢ni th¢ u5¢ of resources. Grants Offered subject to conditions ￿1¢h have not been met at the year end dat¢ ar¢ noted as a commitment but noi acCn￿d as expendiuwe. Tangible Ilied •ssets Depr¢¢iation is provided at the following annual rates in order to write off each assei over its esiimated us¢fvl life. Improvements to prop Plant aDd machLrtery Fixtures and f)tting5 Computer equipment 12.5% on cost 20Yv on cost 2￿/0 OTI Cost 20Vv on cost Tangrble fixed assets aTe rneasured ar cost les5 a¢amiulat¢d depreciation and impairn￿￿L Individual assets costing £l,(M)O OT more are capitali5ed. S¢oclis Stocks are valued at the lower of cost and estimated selling prire less cosrs to sell. Taxatio The charity is exempt from wporation tsx on its charitable activitie5. Page 14 continued... The York Gl*ziers' Tr￿1 Notes to the FiD8ncial Statements- continued for the Y￿r Ended 31 M*r¢lJ 2024 ACCOUNn74G POLJCILS- CQDtillued Fund afcoDAtiTrg Unrestricted furtds be used ill accordance with the cbarithble objectives ai the discretion of the Trusiees. Further expl3natiotJ of the naDJre and purpose olthe fiumls is iucluded ID the Dotes to the financial statements. Hire purchase and Ita$5ng commitm¢nts Relltals paid undei op¢raiing le&ses are charged to the Staternent of Finattial Activiti&% on z straigbr llne basis over the period of th¢ le&fe. PeDs1O￿ costs and other p05t-ret&remeAt b¢Defits The charitable company 0￿ra￿ a defined contribution pension scheme. Contributsolls payable to the ehariiable company's pension scheme are charged io the Stsiemtnt ofFinancial Activities in the peritsd to which th¢y relat¢. Investments Listed iDveslments are ststed at market value ij) order to comply with tht provi5iOJLS of 'A¢¢owiting and R¢portin8 by Charitie5'. Statemeni of Rccotntncnded Prdctice. (revised 2￿5). InvesiiDent incornc 15 brought into account whell received. Foreign currencies Foresgn curreDcy transactions ar¢ converted at the excbaDge rdte ruling at the date of the trawctiorL Foreign currellcy &ssets and liabilities are traDslatd ar the exchange Tate rnling at the b818nce sheet date with any profit or loss on exchange being Lnclvded in the Staiem¢n( of FinaDcial Ac(ivitis5. Fin*n¢lal tnstrttments The charity ottly b85 financial assets and liabilities of a kÈtyJ thai quallfy as basic financial instruments. Basic financial instruments are initially recognised ai trnwction value and subsequently m¢Asuttd at their settlement v&lue with the ex¢¢piion of bank loaus wbhch arc subsequ￿tlY n￿aSUr￿ at arnortised cost ILsill8 effective ntere5t rllett￿d. Government graints Rev¢nu¢ b3s¢d 8Tants ar¢ ¢r¢dited io the profit aTKi10s5 account on rec¢ipt. CrltTcal g¢counting Judgements and key 50urt¢s Of estirnalioA uTrc¢rtaiThty The preparation of ihe financial statemeiits requires managemeni w make judgements. es¢imate5 and assumptions that aff￿1 the amounts reported for ass¢s and liabilitie5 a5 at the balance she¢1 dai¢ and th¢ amounts reported for income and expenses during the year. However, the narnre of estimation means that aclual outcomes could differ from those ¢stimaies. The following jvdgcTnents (apart from those involving estimates> have had the most si8nificant effrct on amounts reco￿lSed io the financsal ststemcnts. Operating le•5¢ Commitments The ¢haritable compony has entered into ¢ommer¢ial leases as lessee to obrain th¢ use of property and equipmcTht. The classification of such le&ses &$ operating of finance leases requires the company to deterniine, based on an evaluaiion of the *rm5 and conditions of the arrangements. whether it retsbns or acquires the significant risks and rewards of owneTship of these assets and accordingly whether the Icase rcquires the reco8niiion of an a55et and liability in the balancc sheei. Pagc 15 continued... The York Gl•ziers' Trust Notts to the financial Statements- tontinued for the Yt4r Ended 31 M•rch 21124 DONATIONS AND LEGACtF 2024 2023 GraDts and donatioJs 58.159 30.379 All of the £58,159 ￿CeIved 202412023.. £30,379) related ￿ uorestricttd fijtth. INI￿STMENT INCOME 2024 2023 Fixed asset investment incornc Deposit attouut iDierest 31.377 3,846 22,693 514 35,223 23.207 £31.829 received in 2024 (2023.. £21.823) relawl to g¢o¢ral fiwds th £3.394 {2023.. £1.384) relared to the des)￿)ated fimd. ¥COME FROM CIL4RfrkBLE ACTtvr 2024 2023 Work dolle- Dean and Chapter Work don¢- other cli¢Dis 275,742 448.755 391.366 442.754 All of the £724,497 incoJrK ID 202412023.. £834,120) reL4ted w westiicted fits￿. RAISING FUNDS Investment manag¢rnent tosts 2024 2023 Porttoiio r￿qnagement 6,350 4,107 CHARITABLE ACTIVITJES COSTS 2024 2023 Direct costs Support costs (see T) 727,861 19.693 792,932 20J82 Page 16 continued... The York Glaziers. Trwt Notes to the Fin*fvtS*l St4tements- ttsntlnmed for ihe Ye*r Ended 31 M#reb 2024 GiiANfs PAYABLE 2024 2023 Charitable a¢tivits¢S 1.200 693 SUPPORT COSTS 2024 2023 Govcrnaoce 19.693 20.382 io. NET INCOMEI(EXPENDITiJRE) Net resources are ststed after charginty(cred"Liing).' 2024 2023 Audilors, rcmuDeratiOO tkpr¢ciation- owned a￿ts 9.100 16,688 8,825 34,307 ii. TRUSTEES. REMUNEIiATION AND BENEFITS There were no trustees, remuneTaiion or other b¢t)¢fiLs for the year ¢nded 31 Mar¢b 2024 nor for the year ended 31 March 2023. Trustees. txpenses 2024 2023 Mrs Carol¢ Miloer Mr Orlando Bridgetnatt Mrs Linda Baiues Dr Ivo Rauch Professor Chn'stopher Nonon 135 242 24 306 398 65 ExpeL%￿ relate to rellnbursemt￿ of expenses including tra￿] u*rin& 12. SfAFF COSTS 2024 2023 Wag¢5 and salarie5 Social secuTiry costs Otherpension costs 472.189 40,682 40.973 491,808 41,513 45.810 553,844 579,131 The average mcfflthly number of einployees during thc year w&$ as follows.. 2024 15 2023 Charitable attlVLties No employces received emoluments in excess of £60,￿. Page 17 ¢ontinu¢d... The Yfjrk GIAzi¢rs' Trust Notes tt) the Fin**ci*l St)iien)ents- cowtinued for the Yur Ewled 31 M*r¢h 2024 12. STAFF COSTS- cotttinutd The key management personftel of the charitabl¢ Corwy comprise the stR]ior Itadcrthip team a5 disclosed o page 4. The total amount of employet bencfits (including crnploycr pension contributions) rtctived by key rnatjagemenl personnel for their Services to the Ch￿.1¥ble company was £107.83012023: £85.6421. 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestri¢t¢d fi]nds ¥COME AND ENDOWMENTS FROM Donaiions and legacies 30,379 Charitable #etivltles Work Done- Dean atMI Chaptcr Work DotLe- other clients 391.366 442.754 Investment Lnwm¢ 23.207 Total 887,706 EXPENDITURE ON Raising fimds 4,107 Ch#ritablt #¢tivitie5 Charithble activities 813,314 Total 817,421 N¢1 gainfJ(Ios5¢s) on investm¢nt5 (49.693) INCOME Other recognised 8ainsIOosses) Gain￿[10$%$) on revaluation of fLxed assets 20,592 (41.770) Net movemetht ID fohds (21,178) RECONCILIATJON OF FUNDS Totsl fimds brou8ht fonvard 1,584,7 TOTAL FUNDS CARRIED FORWARD 1.563,522 Page 18 continued... The York Glaziers. Tntst Notes to the St*tements- continued for tbe Ytar EDd¢d 31 M*reh 2024 TAIYGtBLE FIXED ASSETS 1tt4)n)venM io Planl and pnwrty m8cIMDery Fixtyres COmpu￿r equipm¢nt fjttin8S Tota15 COST At l April 2023 Additious 63,585 142.082 2.674 96.C4)9 49,688 351,364 2,675 At 31 Marcb 2024 63.585 144.756 96.010 49,688 354.039 DEPRECIATION At l April 2023 Charge for year 39,740 7.948 128.137 10,258 88.741 4.776 46,118 1,654 302.736 24,636 At 31 MarcFL 2024 47,688 138.395 93.517 47.772 327.372 NET BOOK VALUE At 31 March 2024 15.897 6,361 2,493 1.916 26,667 At 31 March 2023 23.845 13.945 7,268 3.570 48,628 IS. FIXED ASSET INVE¥fMENrs Listed inv¢sDnents Al l April 2023 AddJti0tt5 Disposals R¢valuatioDs 920,276 352.315 (325,962) 1.857 At 31 March 2024 948.486 NET BOOK VALUE At 31 March 2024 948,486 At 31 March 2023 920,276 Investments with a ¢8rrying value of £445,648 (2023.. £110.096) related to furMIs Outsid¢ the UK. Thc above are all Iisied invesritKnts and are at market valu¢. The ¢o5t of these invesrm¢nrs at 31 Marth 2024 was £913,918 (2023.. £983,161)- The fair value oclisted investmertts is deiemiined by refeffnce w the quowi price for iden¢i¢al assets in an active rna￿¢t at th¢ balance shttt date. Pagc 19 ¢ontitwcd... The York Glazi¢rs' TrKst Notes lo the Fillaneial stalen￿llts- tontin¥ed for tb¢ Yt4r E*ded 31 Mareh 2024 16. STOCKS 2024 2023 Stocks 102,412 81.445 17. DEBTOILS: AMOUNTS FALUThG DUE wfTHIN ONE YEAR 2024 2023 Trade debiors Prepa￿￿ents and a¢croed income 22.330 42,586 115,599 15,251 64,916 130,850 18. CREDITORS: AMOUNTS FALLING DUE wmiiN ONE YEAR 2024 2023 Trade creditors Social security and other laxes VAT Other creditor5 Ac¢Tued expenses 4,730 7.812 29,479 11.385 10,264 6,355 8,962 46,323 4.887 8,074 63.670 74,601 19. LEASING ACREEMENrs Minin)um lease payinents under noll-canceIlable opera¢ing leases fa]1 due as follo￿. 2024 2023 Within one yeat Between one and five years In more thatl five years 10.380 2.583 3.229 6,481 2583 5,811 16.192 14,875 211. MOVEMENT IN FUNDS N¢1 m0Ven￿￿t in fi￿d$ At 31.3.24 At 1.4.23 Unre$trieted funds General fimd P¢ter Gib50n ffijnd lJ56,391 207.131 78,541 6248 1.434,932 213.379 1.563.522 84,789 1,648.311 TOTAL FUNDS 1,563,522 84,789 ,648,311 Pagc 20 continued... The York Gl•zieYs' TnL5t Notes to ¢be Fi•&ncixl Statements- continued for the Yt&r Ended 31 M*rch 21124 20. MOVEMEIYT tN FUNDS- tontinued Net roovement in fiJnd5. included iu the above are as follows". lttcorniD8 Resourc&8 Gaitis and resources expcnded MovenKnt its fi￿d5 UTrrestTl¢ted luttds Generdl fiu Petrr Gibson fijnd 817,868 (752,663) (1.241) 13.336 7,478 78,541 6,248 817,879 (753.904) 20.814 84,789 TOTAL FUNDS 817.879 1753,904) 20,814 84.789 Comparadves for movenynt in funds Net ny)ven)ellt ia fi￿d5 Ai 31.3.23 Ai 1.4.22 Unrestrirted General fimd Peter Gibson fimd 1340,951 243,749 15,440 (36.618) E.356,391 207,131 1,584,7 (21,178) 1.563.522 TOTAL FUNDS 1.584.7¢)0 {21,178) 1,563.522 co￿Parative nei o￿VemEnt ID funds. incmded in the above ar¢ as follows.. Incomujg resour¢es Resources expended Gains and losses Movement in fun(ts Unrestricted funds Gerteral fijnd Peter Gibson fiu 887,110 596 (816.972) (4491 (54.698) (36,765) 15.440 {36,618) 887,706 (817.421) (91,463) (21,178) TOTAL FUNDS 887,706 (817.421) {91,463) (21,178) Page21 continued... Th¢ York Glazitrs. Trust Notes to the fitsanel*l Sla¢ements- ￿ntinued Ct)r the Year End¢d 31 M4r¢h 2024 20. MOVEMENT IN FUNDS- cont5n￿ed A current year 12 and prior year E2 trn)nths combined positioo is as follows: Net movement in fiujds At 31.3.24 At 1.4.22 Unrestricted funds General fwid Pettr Gibson fi￿d I J40,951 243.749 93.981 130,370) ,434,932 213,379 1.584.700 63,611 .648.311 TOTAL FUNDS 1.584,700 63,611 1.648,311 A ¢wr¢nt year 12 moDths and prior year 12 months Combined n¢t mov¢ment in funds, included ill the above are as follows.. Movement in fiujds 105S¢S UnTestrlcted furtds General thnd Peter Gibson fimd 1.704,978 607 (1,569,635) (1.690) (41.362) (29,287) 93.981 (30.370) .705,585 (1.571.325) (70.649) 63.611 TOTAL Fuf4DS .705,585 (1.571,325) (70,649) 63.611 Movement on in(bvith]al funds are shown above. The purwse of ead) fvt)d is as louows". General Fund The General Fund meets all genrr41 operatin8 costs of thc charity. TraThsfe￿ are mad¢ from th¢ general fund to the Peter Gibson at the th'scretion of the Tn￿le¢s. Peter Glbson Fund Th¢ Peter Gibson FuDd was cr¢at¢d in th¢ y¢ar ¢rthd 31 March 2018 and is made up of a legacy donation received as part of Peter Gibson's final will and testamertt and a transfer from th¢ general uDrestricted funds in memory of P¢*r Gibson. Th¢ fvnd wa5 iDvest¢d and any I￿vement has been added to the sirtce. CAPITAL COMMrrMENTS 2024 2023 Contracted but notprovided for In the curru)t financial sutements 27.805 This ielaies io an a&s¢t pwchased forwhich a SIY/• dqM)sit ha5 already been paid in the ¢urrentyear_ Pagc 22 continued... The York GI￿lers. Trnst Notes to the FiD*ncial Statements- contiDued for tbe Year Etsded 31 Mirth 2024 22. IiELATED PARTY DISCLOSURES Olle of the principal ¢lients of the is the The cbap￿ of YorK a bcwjy wbich ljas the power to nominate tnJs*es of the Trust. The Tnjst OCa]PLG5, rent fre¢. pr¢rni5es at 6 Dean￿¢ York owned by Th¢ Chapter of York. The Cbapw of YO￿ perforrncd work aod p￿￿ldtd seryic¢s to the valuc of £16.79412023: £12,461) for The York Gluiers, Trust. Duriu¥ rhe y¢ar th¢ The York Glazius. Tn￿t perfom*d work to th¢ value of £275.742 {2023.. £391,336) for The Chapier of Yor At 31 Match 2024. £8.120 (2023.. £32,624) was due fron) Tr Cbapter of York and £2,725 {2023. £2,345) due to The Chapier of York. 23. PENSION SC]IEME York Glaziers Tn￿1 IDBS) particEp31es in the Defined Bellefits Sthen* section of CWPF for lay s¢aff. The Scheme is admjnistercd by the Church of Ell￿alld PeLsioDS Board, wkn'ch bolds the assets of the scheme separately from thost of the Emplts￿r and the other participating emplO￿T$. The Church Workers Pension Fund has a section 35 the ikftned Benefits Scheme. a dcferred annuity Sttlioll known as Pension Builder Classic and a usb balaDcc stction kttown &5 Pe￿$lOn Builder 2014. Der￿ed Benefi¢5 Scheme The Defilled BellefLiS Scbeme ('DBS-) seuion of the ￿Vr¢h Workers Pension Fund provid¢s benefits for lay staff based OD fjnal pensionable salaries. For fvttding purposes. DBS is th"vid¢d iDiO sulTrpools in respect of each participaiing employ¢r as Well a5 a fi￿er SUl￿POOj, knovill as the Life RJ"sk Pool. Tbe Life ￿"Sk Pool exists to shar¢ ¢ertain risks between employers. includJn8 those relaring to mortaliry and posi-retirement investment returns. Tbe division of the DBS into sub*oo]5 15 notional and is for the purpose of caJ¢ulatin8 ongoing contribulj0o5.They do not altcr the fact that the assets of the DBS are held 2s a sitigle tn¥t fimd out of wkn¢h 811 the benefits are to be provided. From tirne ￿ time, a t￿tional prenuum is transferred frorn ¢mployer5'sub-pools to the Life Rl'sk Pool and all peD5ions aud death bclleflts are paid from the Life ￿"sk Pool. Th¢ schell￿ is a muliL