Charity rK). 253973 THE WORSHIPFUL COMPANY OF GLASS SELLERS OF LONDON CHARITY FUND FINANCIAL STATEMENTS YEAR ENDED 31 JANUARY 2021
THE WORSHIPFUL COMPANY OF GLASS SELLERS OF LONDON CHARITY FUND YEAR ENDED 31 JANUARY 2021 TRUSTEES AND OFFICERS TRUSTEES: J Whitwnan L Baiklharn M Nathan A N ThatLtsr P Wenham D Wikinson R Re#1 {Chwr 30 Sept 20201 {chrfrOM 1 Oct 20201 (resigned 30 Sept 2020) {ressgn8d 30 Sept 2020) {aFP)inted 11 J•n 2021} CHARITY REFERENCE NUMBER: 253973 PRINCIPAL ADDRESS: S BraykO 6 Tubbenden Orping Kent BR6 9PN INDEPENDE1 EXAMINER: K Carey 113JadLa WestertM Kent TN163SD BANKERS: Caf Bank Limited "r83 Mil West MalliNJ ME19 4TA HSBC PIC 1(X) Old Broad Street EC2N 1BG 114VESTMENT ADVISERS: Charfes Stsnky& Co. Limited 25 Luke Street EC2A 4AR SECRETARY TO THE TRUSTEES: Ms S Evans 19 LUct$ Av•M Buc*hurst Hlll Essex IG9 5SG
THE WORSHIPFUL COMPANY OF GLASS SELLERS OF LONDON CHARITY FUND YEAR ENDED 31 JANUARY 2021 TRUSTEES. REPORT The Trustee5 present their rwrt abn9 vthh Ihe fv)an¢fjal statements of th8 for the year endgd 31 January 2021. The finanual stslements have been prepared in accordance with thè accounttiig policies set ¢yJt on page 7 and comply WTth the tharF$ twst ¢ked and appkablè IAT. CONSTITimoN AND OWECTIVES Thg Charity is rewlated In 8eeowd8nco wilh a Trust Deed dated 20 September 1967 Whti formalised the charitable activrties of the Worshiplul Company of Glass Sellers of London lincorporaled by Royal Charter in 16641 rfhe Comparfl. at that time consisted prinCipty of Ihe Abbott SthIAarship FuThJ. set up in 1875. and a"Chaiity Fun(r set up on 18 Juty 194S. AIMS AND ORGANISATION The Worshipfijl Company of Gl8$s Sdiers Charlty Fund set up for gengral charitab purposes, which it ftlfils by making grants, donatior. scholarships and awards to indidUalS and organisations. The main argas of support are.. the wider glass indu5ty, the Cty and its speufic appeals. Edu¢)tion and the less priviw in and arourKI the Cty of LOlOn. I members of the LNery are expeet•d to ¢onlrilyJte to the Chanty Fund thrcw9hout thew rnembership according to thr means. The Abbott Schdarshlp Fund pays a burnary to a deseThrfNJ stthl fmm thp City of London School entsring Oxford or Cambndg• UnNetsity and Russel Group Unl¥ersrfiès. The management and administrauon of the Chwity Cale by thè Trustees wlh parmwne supporL REVIEW OF THE YW INCLUDING FINAMCIAL REVIEW In pursuing ts obj'ectives over the year to 31 January 2021 Charty Fund spent £13,020 i£e6,488 in 2019120201, of whith £3,063 I£2.(0 2019120201 was from a $trted fund, th8 Abbott Scholarship Fund. Th8 unre$tri¢ted donatnS Ere divided between glass (including the 9$$ w) Society project and student bursariesl. City thartbe¥. incJud#)g thè Lord Mayorfs appeal and education (mainly bursaries & schoLarships to 8tudents at Cty srorAs) and others. Thesè bursarie$ wll be reviewed on an annual basis. The charity finances several avmrds induding The Glass Selers. Art and Craft Award. The Glass Sellers, Art and Craft Student Award. The GI Selers. Beelhoven Piano Prize, The Glass Sellers. Trophy. Thè G$$ Selkn. Sdenc¢ and Technokngy Awwd and The Glass Sekrs. Tankard. Followlng an appe by th? Trustees most LN¢1)ry have now ctynpleted Gift fomis and make regu18r donations to th& Ch8rity Fund.
THE WORSHIPFUL COMPANY OF GLASS SELLERS OF LONDON CHARITY FUND YEAR ENDED 31 JANUARY 2021 TRUSTEES. REPORT REVIEW OF THE YW INCLUDING FIIiANCIAL REVIEW {contlnu•d) Athitse8 during the ended 31 JanLMry2021 w•r• stvdy rostr1 by the COVID pandem Trustees ntInued to meet wrtualtyto ensure the day to d8y rurming of the Chariws actWIt was oble to rA)ntinue. However, the Glass in s"ety initi"aknve whth makes granls to schLh)15 in supwt of Glass and STEM related prw¢cts was mgsty su8pended as schools were cb)s&J for many months. This reduced the Ch¥riW¥ expendrture ty approximatety £20.LI. lft addb"m. many of Ihg planne<l fvn&raising events were also caeld because ofthe pathic and this reduced ¢h8ritable inrA)W INVESTMENT POUCY The Trustees haw eonshlered the most approwiate polry for investing funds and have concluded that Invèstin9 in a broad based pothllo meets its requirements for income and grolth with a ide spread of risk. It Is th• Tru¥tses' policy lo aim to increase its invesknents eath year by not less Ihan 10% of it¥ income from dOn8n$. trMJt thi& 1$ depen¢Jent UP MadIlUCIUatknn$. Charity law wuirgs the Trustees to prepare finanual stalements each financial year give twè and fair vtew of the chanlys fin8n¢Kql ¥0ibeS during the year and of rts fin0t1 posb.on at th¢ end of the year. In preparing thosè financi ststements. Trustees are requlred to.. select suitable aco)urdirMJ pdicies and appty thwn COnenty. have been folblved Jt¥ect to Iknpart di8rJosed and expknnl in the final statemgnl$," and prepare th• fin•rAal Statem on lh• cormxn basis lesS it is inappropriate to presumethat the tharity wil cont#iu• in 1n. Tha Tru$lees are responsib for keePg proper aCCnI records dlsck)se with roasonablg accuracy at any time the ffinandal position of the charity and to enablE them to ensure that th8 fin8nd81 statements compty with the requireménts of the Charthes Act 2011. They a s0 responsible for safeguarding the as59ts of the chanty and ho? tr ts9 Teasonatl8 stw for the wevent)n and detaetion of fraud and 01hèr irreguk3rTbes. TNstee 9 0(#ober 21r21
THE WORSHIPFUL COMPANY OF GLASS SELLERS OF LONDON CHARITY FUND YEAR ENDED 31 JANUARY 2021 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE WORSHIPFUL COMPANY OF GLASS SELLERS OF LONDON CHARITY FUNI I report lo thg tharity trustees my examination of the xctyjnts of the dwity for the year eThJed 31 January 2021 which are set on the Ststement of FinaThial AL¥rbes.' Balance Sheet.. and notes to th• firWirJ statements. RESPONSIBILrriES AND BASIS OF REpoKr requirements ol the Charitie8 Act 2011 Cthe . The chawiW8 trustees ¢Lsler that an audit i¥ not raquired for this year under Son 144(2) of thè Charth% A(a 2011 Ctt)a ) and that Indèpendent examination is ne&JgJ. I report in respeia of rny examinatton of thè ¢haritys ac£4Junts Lmrt se(knn 145 ofthe Act and in carrying out my examination I havè fob7wed am arat4e Dwecons given by the Charity CommissÉoA under section 14515)Ib} of the Aca. INOEPENDENT EXAMINER'S STATEMEP I have completed my examination. I confirm that ro mtsi rnattws have (x)mè lo my attention in ¢onnectKJn with thtr wmination gmng m• t$e to beli that in any material respec aruntij lerdS were keFI respe( of the dwity as rewired by sec*icffl 1S} ofthe Ad., or (21 I have no eoncems and havè come a(¥oss no matters in cOntiOn wilh the examin81ion lo whith attèntion shoutd be dr in this rw1 in ord8rto enawe a proper undgrstsrKliro of the accounts to be rèaehed. 113J8ILane We&erham K Carey TN163SD 9 O¢tober 221
THE WORSHIPFUL COMPANY OF GLASS SELLERS OF LONDON CHARITY FUND YEAR ENDED 31 JANUARY 2021 STATEMENTS OF FINANCIAL AcmvmES 2021 2020 RestrLtgd Fund Re8triced Fund The Abb)tt ntrIctl Scholarship Fund Unrestrt S(K)larship Funds Fd INCOMING RESOURCES Donations and income tax repaym relating thereto Investment income Fundraiwng income Other incomè Bank Interè$1 24.058.91 18,709.25 1,150. 4,951.90 20.84 25.771.71 22,801.77 27,563.38 250. Total Ineoming Resourw4 48,89).90 76.445.52 RESOURCES EXPENDED Direct Chariiablo Expenditure.. Scholarships Grants and donati.. Gl&8s - Edu¢K)n Non Eduiior Educat Non Etat)nal Fundr8i¥ing costs Administration expen (bank charge¥) Goveman¢e costs 3.). 2.000.CQ 25.144.39 10.231.88 1.(X.00 8.310.00 17.810.70 120.00 1.809.20 s.5.c 691.25 128.C 2.639.45 9..70 3.063.IxJ 64,426.17 2.C60.C NET INCOMING RESOURCES FOR THE YEAR 38,9X20 (3.063.00) 11019.35 I1060.) OTHER RECOGNISED GAINS AND LOSSES Gainsl{loss•sl on investrnenls 34.133.31 3S.984.04 4,917.16 4800.89 {12.146.06) 48.003.39 2.857.16 NET MOVEMENT IN FUMDS Funds brought fOard 620.895.52 57.368.83 572.89113 54,511.67 Funds carri8d fOard 625.696A1 45.221TI 620.895.52 57.368.83
THE WORSHIPFUL COMPANY OF GLASS SELLERS OF LONDON CHARITY FUND YEAR ENDED 31 JANUARY 2021 BALANCE SHEET 2021 2020 Restri(tsd Fund The Abbott unre8trictl SCarship Funds Fund FLmd The Atkntt UnrestrKled Scholarship FuThJs FL FIXED ASSErs Investments at mark•t v¥k 558,584.84 44.119.94 532.718.15 53.203.C(I CURRENT ASSErs Cash at bar& at brokers Debtor8 Stock olTrophies aThJ mu Prizes {not valued) 67.111.57 1.1tr2.83 88.177.37 4.165.83 @25,.41 45,22177 620.895.52 57.368.83 CREDITORS {Du# wrfhin one ye¥) NET ASSETS L&8S CURRENT LIABILinES 625.696A1 45.22177 620,89&52 57.368.83 FUNDS On Capital Account On Accumulated Income 32,437.L 32.437.CKI 593,259.41 45.222.77 588.458.52 57.368.83 625.696AI 45,221TI 620,89&52 5T.36&03 AppThw bythe Board ofTN$t on 9 Odot*r 2021 wned on its behalfby. Trust•e
THE WORSHIPFUL COMPANY OF GLASS SELLERS OF LONDON CHARITY FUND YEAR ENDED 31 JANUARY 2021 NOTES TO THE FINANCIAL STATEMEPfft8 ACCOUNTING POUCIES The finon¢ial 8tatements ha¥e been prepared under the historKal co81 convenlion in accorda• vJ6th 8pplicable accnting stsndord$. a8 modifd for the inth¥K>n of fryed as8et invesbments at market Value. In FwrirwJ thè fmanc1 statements the charity folknws best pr8¢tice as lakl down in th¢ StateThrt of recommended wxlice "Aco)unting and Repon9 by chartbes" ISORP 20151. INCOME cash r¢¢eived basis. DONAnONS DonAtw$ a550Ckated irthme tsx repay1 are crndrt•d to the 8tatement of narla1 actiVrtS In thÈ year in they ar• rled. INVESTMENT INCOME InveStMt irKome is aCew tho pernd in the dwrity 1$ entilled lo receipL INVESTMENTS In cordance ¥4ilh Statemrt of Recommentsj Pracke"AYntsng by chItIes.. the tharty TRUSTEES. REMUNERATION The charity has no employees and nom of th8 Trustees recel¥ed 8ny rèmuner¥t)n. Eypenses reimbur¥gd are disckjsed in Nots 5. INVESTMENTS 20 2020 Restricted Fund Fund The Abbot The Abbot UnreicW Srknlarship UnrestrKted SCJ1atshlp Fund5 Fund Funds Fund Markèt vakje at 1 Febnjary 2020 532.718.15 53.203.¢xI 496.734.11 48.285.84 Purth&8es Markèt (1088llgain fortr* y••r 60,{. 134.133.31) 19.083.1%1 35.984.04 4,917.16 Mark8t Value At 31 January 21r21 558,584.84 44,119.94 532,718.15 53,203.IXI
THE WORSHIPFUL COMPANY OF GLASS SELLERS OF LONDON CHARITY FUND YEAR eNDE0 31 JANUARY 2021 NOTES TO THE FINANCIIL STATEMEKrs FUNDS R•stricod funds R•stricted ftjnds hold nts rec9 for yific acb¥ll$ aThJ ex[thIre on those ath"vitses is 8et against t)se amounts. Abbot Seholornhip The Abbot Scholarship Fund pays a trSary to a des¥11¥j siudent from thg Cty of London School entering Oxford or Cambridge UnNersity or Rus581 UnNersth Group. The fund is no longer able to covar a fijll 8dK4arslip pay4 a Ir to Wp him cover Ir¥ing expenses during his b"m& al uruvww. Unr•strl¢ted funds TRANSACTIONS wmi TRUSTEES During the yw, trustees were re1mLr1 £nll (2020: £nil) whi18t urKlertaking actNiti98 of the charity.