## 

## 

||Page|
|---|---|
|REPORTOFTHETRUSTEE|1-9|
|REFERENCEANDADMINISTRATIVEDETAILS|10|
|STATEMENTOFTRUSTEE'SRESPONSIBILITIES|11|
|INDEPENDENTAUDITOR'SREPORT|12-14|
|STATEMENTOFFINANCIALACTIVITIES|15|
|BALANCESHEET|16|
|CASHFLOWSTATEMENT|17|
|NOTESTOTHEACCOUNTS|18-29|





## 

## 



## 

## 

## 

## 



## 

## 

## 

|||#ofgrants|
|---|---|---|
|GrantsbyTheme|2022Value|awarded|
|Arts|£28,500I|9|
|Churches|£37,800I|16|
|Disability|£54,321I|16|
|Education|£311,912|21|
|Elderly|£38,495|9|
|Environment|£45,000|11|
|Health|£161,907|28|
|Heritage|£6,000I|2|
|Military|£26,000I|6|
|Poverty|£213,182|30|
|Youth|£100,528|24|
||£1,023,645|172|





## 

## 

## 

## 

## 



## 

## 

## 



## 

## 

## 



## 



## 

## 



## 

|CHARITY|255230|
|---|---|
|REGISTRATION||
|NUMBER:||
|TRUSTEE:|TheGrocers'TrustCompanyLimited|
|SETTLOR:|TheGrocers'Company|
|SECRETARYTOTHE|BrigadierGrevilleBibbyCBE|
|TRUSTEE:||
|CHARITYMANAGER:|MsMichelleMolyneux|
|PRINCIPALOFFICE:|Grocers'Hall|
||PrincesStreet|
||London|
||EC2R8AD|
|AUDITOR:|BuzzacottLLP|
||130WoodStreet|
||London|
||EC2V6DL|
|BANKER:|BankofScotlandplc|
||25GreshamStreet|
||London|
||EC2V7HN|
|INVESTMENT|RathboneNomineesLimited|
|CUSTODIANS|PortofLiverpoolBuilding|
||PierHead|
||Liverpool|
||L31NW|
||(From1stJuly2021)|
|INVESTMENT|RathboneInvestmentManagementLimited|
|MANAGER:|8FinsburyCircus|
||London|
||EC2M7AZ|
||(from1stMay2021)|
|SOLICITORS:|CharlesRussellSpeechlysLLP|
||5FleetPlace|
||London|
||EC4M7RD|





## 



## 

## 

## 

## 



## 

## 



## 

## 

## 

|||Permanent|Expendable|||||
|---|---|---|---|---|---|---|---|
|||Endowment|Endowment|Restricted|Unrestricted|TotalFunds|TotalFunds|
|||Funds|<br>Funds|Funds|Funds|2022|2021|
||Note||£|£|£|£|£|
|Income<br>and<br>endowments||||||||
|from:||||||||
|Donationsandlegacies||||180,774|137,076|317,850|6,330,908|
|Investments|||-|34,481|<br>653,067|687,548|470,589|
|Totalincome||-||215,255|790,143|1,005,398|6,801,497|
|Expenditureon:||||||||
|Raisingfunds||||||||
|Fundraisingexpenses||||31,271||31,271|<br>1,518|
|Investmentmanagerfees||45,355|<br>50,853||1,818|98,026|7,800|
|Expenditure<br>on<br>charitable||||||||
|activities||||||||
|Grant-making|4,5,6|180||224,890|888,754|1,113,824|957,445|
|Totalexpenditure||45,535|<br>50,853|256,161|<br>890,572|1,243,121|<br>966,763|
|Net(expenditure)/income||||||||
|beforeinvestmentgainsand||||||||
|losses||(45,535)|<br>(50,853)|(40,906)|(100,429)|<br>(237,723)|5,834,734|
|Net(losses)/gainson||||||||
|investments||(1,175,827)|(1,300,423)||(106,725)|(2,582,975)|6,675,460|
|NET(EXPENDITURE)/INCOME||(1,221,362)|(1,351,276)|(40,906)|(207,154)|(2,820,698)|12,510,194|
|Transfersbetweenfunds|12|||995|(995)|||
|NETMOVEMENTINFUNDS||(1,221,362)|(1,351,276)|(39,911)|(208,149)|(2,820,698)|12,510,194|
|Balancesbroughtforward||||||||
|atbeginningofyear||17,132,836|19,204,763|121,466|688,492|37,147,557|24,637,363|
|Balancescarriedforwardat|10,11,|||||||
|endofyear|12|15,911,474|17,853,487|81,555|480,343|£34,326,859|£37,147,557|





## 

## 

## 

||||Permanent|Expendable|||||
|---|---|---|---|---|---|---|---|---|
||||Endowment|Endowment|Restricted|Unrestricted|TotalFunds|TotalFunds|
||||Funds|Funds|Funds|Funds|2022|2021|
|||Note|£|£|£|£|£|£|
|FIXEDASSETS|||||||||
|Investments||7|15,849,512|17,528,990||596,010|33,974,512|36,449,560|
||||15,849,512|17,528,990||596,010|33,974,512|36,449,560|
|CURRENTASSETS|||||||||
|Debtors||8||||4,822|4,822|58,096|
|Cashatbank|||65,678|328,670|81,555|(111,476)|364,427|658402|
||||65,678|328,670|81,555|(106,654)|369,249|716,198|
|CURRENTLIABILITIES|||||||||
|Creditors||9|(3,716)|(4,173)||(9,013)|(16,902)|(18,201)|
|NETCURRENTASSETS/|||||||||
|(LIABILITIES)|||61,962|324,497|81,555|(115,667)|352,347|697,997|
|TOTAL<br>ASSETS|LESS||||||||
|CURRENTLIABILITIES|||15,911,474|17,853,487|81,555|480,343|£34,326,859|£37,147,557|
|||Note|10|11|12||||





## 

## 

||2022|2021|
|---|---|---|
||£|£|
|Cashflowsfromoperatingactivities:|||
|Netcashusedinoperatingactivities|(873,262)|(695,229)|
|Cashflowsfrominvestingactivities:|||
|Dividendsandinterest|687,514|422,163|
|Proceedsfromthesalesoffinancialinvestments|16,417,356|30,530,251|
|Purchaseoffinancialinvestments|(17,795,389)|(27,986,859)|
|Netcash(usedin)/providedbyinvestingactivities|(690,519)|2,965,555|
|Changeincashandcashequivalentsinthereportingperiod|£(1,563,781)|£2,270,326|
|Changeincashandcashequivalentsinthereportingperiod|(1,563,781)|2,270,326|
|Cashatthebeginningofthereportingperiod|2,512,482|242,156|
|Exchangedifferencesoninvestmentcash|70,954||
|Cashandcashequivalentsattheendofthereportingperiod|£1,019,655|£2,512,482|
|Reconciliationofnet(expenditure)/incometooperating|||
|cashflows|||
|Net(expenditure)/incomefortheyear|(2,820,698)|12,510,194|
|Adjustmentsfor:|||
|Dividendsandinterest|(687,514)|(422,163)|
|Donationofinvestments||(6,108,283)|
|Losses/(gains)oninvestments|2,582,975|(6,675,460)|
|Decrease/(increase)indebtors|53,274|(10,108)|
|(Decrease)/increaseincreditors|(1,299)|10,591|
|Netcashusedinoperatingactivities|£(873,262)|£(695,229)|



||1August|Cashflows|Othernon-|31July2022|
|---|---|---|---|---|
||2021|£|cash|£|
||£||movements||
||||£||
|Cashatbankandinhand|658,102|(293,675)||364,427|
|Cashheldbyinvestmentmanagers|1,854,380|(1,270,106)|70,954|655,228|
|Totalcashandcashequivalents|2,512,482|(1,563,781)|70,954|1,019,655|





## 

## 

## 



## 

## 

## 

## 

## 

## 



## 

## 

## 

|||Permanent|Expendable||||
|---|---|---|---|---|---|---|
|||Endowment|Endowment|Restricted|Unrestricted|TotalFunds|
|||Funds|Funds|Funds|Funds|2021|
||Note||f|f|f|f|
|Income<br>and<br>endowments|||||||
|from:|||||||
|Donationsandlegacies|||6,018,779|123,877|188,252|6,330,908|
|Investments||||28,246|442,343|470,589|
|Totalincome||-|<br>6,018,779|152,123|630,595|6,801,497|
|Expenditureon:|||||||
|Raisingfunds|||||||
|Fundraisingexpenses||||1,518||1,518|
|Investmentmanagerfees||3,659|<br>4,046||95|<br>7,800|
|Expenditure<br>on<br>charitable|||||||
|activities|||||||
|Grant-making|4,5,6|121||99,563|857,761|<br>957,445|
|Totalexpenditure||3,780|<br>4,046|101,081|857,856|<br>966,763|
|Net(expenditure)/income|||||||
|beforeinvestmentgainsand|||||||
|losses||(3,780)|<br>6,014,733|51,042|(227,261)|<br>5,834,734|
|Netgains/(losses)on|||||||
|investments||3,464,568|<br>3,030,028||180,864|6,675,460|
|NETINCOME/(EXPENDITURE)||3,460,788|<br>9,044,761|51,042|(46,397)|12,510,194|
|Transfersbetweenfunds|12|||6,128|(6,128)||
|NETMOVEMENTINFUNDS||3,460,788|<br>9,044,761|57,170|(52,525)|12,510,194|
|Balancesbroughtforward|||||||
|atbeginningofyear||13,672,048|10,160,002|64,296|741,017|24,637,363|
|Balancescarriedforward|||||||
||10,11,||||||
|atendofyear|12|17,132,836|19,204,763|121,466|688,492|f37,147,557|





## 

## 

||||Permanent|Expendable||||
|---|---|---|---|---|---|---|---|
||||Endowment|Endowment|Restricted|Unrestricted|TotalFunds|
||||Funds|Funds|Funds|Funds|2021|
|||Note|£|£|£|£|£|
|FIXEDASSETS||||||||
|Investments||7|17,097,984|18,909,754||441,822|36,449,560|
||||17,097,984|18,909,754|-|441,822|36,449,560|
|CURRENTASSETS||||||||
|Debtors||8|||3,844|54,252|58,096|
|Cashatbank|||38,511|299,057|121,022|199,512|658,102|
||||38,511|299,057|124,866|253,764|716,198|
|CURRENTLIABILITIES||||||||
|Creditors||9|(3,659)|(4,048)|(3,400)|(7,094)|(18,201)|
|NETCURRENTASSETS||||||||
||||34,852|295,009|121,466|246,670|697,997|
|TOTAL<br>ASSETS|LESS|||||||
|CURRENTLIABILITIES|||17,132,836|19,204,763|121,466|688,492f37,147,557||
|||Note|10|11|12|||





## 

## 

||Grants|Staffand||
|---|---|---|---|
||Payable|Governance|Total|
|||Costs||
||£|£|£|
|Grant-making2022|1,023,645|90,179|£1,113,824|
|Grant-making2021|875,895|81,550|£957,445|
|Grantspayableweremadeinthefollowingcategories:||||
|||2022|2021|
|||£|£|
|Education||311,912|288,010|
|ReliefofPoverty||213,182|99,612|
|Health||161,908|86,788|
|Youth||100,528|80,479|
|Disability||54,320|78,144|
|Environment||45,000|24,000|
|TheElderly||38,495|58,840|
|Churches||37,800|39,800|
|Arts||28,500|68,770|
|Military||26,000|31,452|
|Heritage||6,000|20,000|
|Total||£1,023,645|£875,895|



## 

|Staffcostsrelatetoonefull-timememberofstaff(2021-1):|2022|2021|
|---|---|---|
||£|£|
|Salaries|49,443|47,088|
|Socialsecuritycosts|5,755|5,283|
|Pensioncosts|7,277|6,930|
|Temporarystaff|14,895|9,282|
|Otherstaffcosts|4,590|4,562|
|Total|£81,960|£73,145|





## 

## 

## 

## 

|ERNANCECOSTS|||
|---|---|---|
||2022|2021|
||£|£|
|Auditfees|7,080|7,300|
|Subscriptions,printingandbankcosts|1,139|1,105|
|Total|£8,219|£8,405|
|STMENTS|||
||2022|2021|
|QuotedSecurities|£|£|
|Marketvalue|||
|Atbeginningofyear|34,595,180|24,354,829|
|Additions|17,795,389|34,095,142|
|Disposals|(16,417,356)|(30,530,251)|
|(Losses)/gains|(2,653,929)|6,675,460|
|Atendofyear|33,319,284|34,595,180|
|Cashheldbyinvestmentmanagers|655,228|1,854,380|
|Totalmarketvalueat31stJuly2022|£33,974,512|£36,449,560|
|Historicalcost|||
|Atendofyear|£35,376,787|£33,017,392|



## 

## 

|TORS|||
|---|---|---|
||2022|2021|
||£|£|
|Incometaxrecoverable|4,789|4,889|
|Prepaymentsandaccruedinterest|33|53,207|
||£4,822|£58,096|





## 

## 

||||2022|2021|
|---|---|---|---|---|
||||f|f|
|Accrualsanddeferredincome|||15,000|14,800|
|Othercreditors|||1,902|3,401|
||||£16,902|£18,201|
|MANENTENDOWMENTFUNDS|||||
||Balanceasat|Expenditure,||Balanceasat|
||1stAugust2021|GainsandLosses||31stJuly2022|
||£|£||£|
|Grocers'Company|16,905,529|(1,206,469)||15,699,060|
|DameMargaretSlaney|206,018|(14,713)||191,305|
|Mercers'andWaterford|21,289|(180)||21,109|
|Total|£17,132,836|£(1,221,362)||£15,911,474|
||Balanceasat|Expenditure,||Balanceasat|
||1stAugust2020|GainsandLosses||31stJuly2021|
||f|f||f|
|Grocers'Company|13,486,289|3,419,240||16,905,529|
|DameMargaretSlaney|164,350|41,668||206,018|
|Mercers'andWaterford|21,409|(120)||21,289|
|Total|f13,672,048|f3,460,788||f17,132,836|



## 



## 

||Balanceasat|Income|Expenditure,|Balanceasat|
|---|---|---|---|---|
||1stAugust2021||GainsandLosses|31stJuly2022|
||£||£|£|
|Grocers'Company|17,554,127||(1,234,720)|16,319,407|
|Queen'sGolden|||||
|JubileeScholarship|1,650,636|-|(116,556)|1,534,080|
|Total|£19,204,763|£-|£(1,351,276)|£17,853,487|
||Balanceasat||GainsandLosses|Balanceasat|
||1stAugust2020|||31stJuly2021|
||f||f|f|
|Grocers'Company|8,839,572|6,018,779|2,695,776|17,554,127|
|Queen'sGolden|||||
|JubileeScholarship|1,320,430|-|330,206|1,650,636|
|Total|(10,160,002|f6,018,779|(3,025,982|(19,204,763|





## 

||Balanceasat|Income|Expenditure|Transfers|Balanceas|
|---|---|---|---|---|---|
||1stAugust|||between|at31stJuly|
||2021|||funds|2022|
|||||£|£|
|DameMargaretSlaney|1,424|3,826|(5,000)||250|
|Mercers'andWaterford|||(800)|800||
|Queen'sGolden||||||
|JubileeScholarship|70,899|30,656|(20,250)||81,305|
|FundraisingCampaigns||||||
|andEvents|(857)|138,773|(137,916)|||
|Restricteddonations|50,000|42,000|(92,195)|195||
|Total|f121,466|£215,255|£(256,161)|£995|£81,555|
||Balanceasat|Income|Expenditure|Transfers|Balanceas|
||1stAugust|||between|at31stJuly|
||2020|||funds|2021|
||£|£|£|£|£|
|DameMargaretSlaney|2,285|4,139|(5,000)||1,424|
|Mercers'andWaterford|||(800)|800||
|Queen'sGolden||||||
|JubileeScholarship|60,292|24,107|(13,500)||70,899|
|FundraisingCampaigns||||||
|andEvents|1,719|8,877|(16,781)|5,328|(857)|
|Restricteddonations||115,000|(65,000)||50,000|
|Total|£64,296|£152,123|£(101,081)|£6,128|£121,466|



## 



## 

## 



## 

## 

||£34,500|
|---|---|
|Churches||
|StMatthew,Highfield(2)|£7,000|
|StMary-le-Bow,Cheapside|£5,000|
|StStephen,Walbrook|£3,000|
|StMichaelandAllAngels,Waterford|£2,800|
|AllHallows,Bromley-by-BowPCC|£2,000|
|AllSaintsChurchPCC,Caldecote|£2,000|
|Awardsunder£2,000(2)|£2,000|
|StBarnabas,HomertonPCC|£2,000|
|StJohntheBaptist,ParishofStone|£2,000|
|StMaryBow&HolyTrinityBowChurch|£2,000|
|StMaryVirgin,NorthillPCC|£2,000|
|StMary'sChurch,Bucknell|£2,000|
|StPeter'sChurch,Ugborough|£2,000|
|St.Ladoca,Ladock|£2,000|
||£37,800|
|Elderly||
|AsbestosSupportCentralEngland|£5,000|
|BasingstokeNeighbourcare|£5,000|
|FulhamGoodNeighbourService|£5,000|
|TheAnneRobsonTrust|f5,000|
|TheLippyPeopleCharitableTrust|£5,000|
|LiveMusicNow|£4,795|
|Turner'sHouseTrust|£3,200|
|Omega|£3,000|
|HackneyCaribbeanElderlyOrg.|£2,500|
||£38,495|



|Environment||
|---|---|
|TeachtheFuture|£6,000|
|ecobirmingham|£5,000|
|InterClimateTrust|£5,000|
|TheBristolNaturalHistoryConsortium|£5,000|
|TheFrozenArk|£5,000|
|WildThings|£5,000|
|InternationalOtterSurvivalFund|£4,500|
|YoungPeople'sTrust|£3,000|
|WiltsandBerksCanalTrust|£2,500|
|FutureTreesTrust|£2,000|
|ProtectOurWintersUK|£2,000|
||£45,000|
|Disability||
|BlindinBusinessTrust|£5,000|
|BrighterOpportunitiesSpecialPeople|£5,000|
|Scope|£5,000|
|TheGoedLife|£5,000|
|TheHydrationFoundation|£5,000|
|TouretteSyndromeAssociation|£5,000|
|Jigsaw(Bury)|£4,984|
|FriendsandPlacesTogether|£4,000|
|TheSensoryPlace|£3,500|
|AdvocacyOrkney|£3,000|
|HeadwayPortsmouth&SEHampshire|£2,195|
|Awardsunder£2,000(5)|£6,641|
||£54,320|
|Military||
|BuildingHeroes|£5,000|
|GiveUsTime|£5,000|
|LittleTroopers|£5,000|
|UKVeteransHearingFoundation|£5,000|
|FirstAidNursingYeomanry|£3,000|
|ABFTheSoldiers'Charity|£2,000|
|Awardsunder£2,000(1)|£1,000|





## 

## 

## 

|||||
|---|---|---|---|
|Health||ReliefofPoverty||
|MQMentalHealthResearch|£53,936|TheHouseofStBarnabas|£52,026|
|BritishTinnitusAssociation|£5,000|DEC(DisastersEmergencyCommittee)|£40,000|
|CounsellingintheCommunity|£5,000|TheKensington&ChelseaFoundation|£10,000|
|DEBRA|£5,000|VSO(VoluntaryServicesOverseas)|f10,000|
|DoctorsinDistress|£5,000|AspirationsProgramme|£5,000|
|NIDAS|£5,000|BramberBakehouse|£5,000|
|OrchidCancerAppeal|£5,000|ChristianAction&ResourceEnterprise|£5,000|
|Ovacome|£5,000|ContactHostel|£5,000|
|SomethingToLookForwardTo|£5,000|GloucestershireBundles|£5,000|
|TeapotTrustSCIO|£5,000|Home-StartCambridgeshire|£9,058|
|TheBrainTumourCharity|£10,000|MaggsDayCentre|£5,000|
|TheCarlieTufnellCharitableTrust|£5,000|StreetPaws|£5,000|
|TheListeningPlace|£5,000|TheBigIssueFoundation|£5,000|
|TheLordMayor'sAppeal|f5,000|TheCowshed|£5,000|
|TheRosemaryFoundation|f5,000|TheMarginsProject|£5,000|
|TheodoraChildren'sCharity|£5,000|TheRecruitmentJunction|£5,000|
|WestKentMind|£5,000|TheTalentTap|£5,000|
|KidsInspire|£4,640|WestonFavellCentreFoodBank|£5,000|
|HOPEforPaediatricEpilepsyLondon|£4,386|REFEO|£4,900|
|LittleHeartsMatter|£4,000|HospitalityandHope|£4,800|
|ProstateCancerUK|£2,550|BournemouthFoodbank|£3,500|
|KingstonSamaritans|£2,000|HOHCharitableTrust|£3,500|
|MakingMiracles|£2,000|City&MetropolitanWelfareCharity|£3,000|
|Awardsunder£2,000(5)|£3,396|ChristChurchSouthampton|£2,500|
|||LeightonLinsladeHelpers|£2,000|
|||Awardsunder£2,000(4)|£2,898|



||£161,908|
|---|---|
|Education||
|OundleSchool|£150,000|
|MossbourneCommunityAcademy|£20,000|
|TheElms(Colwall)Limited|£13,310|
|ImperialCollegeLondon|£11,250|
|StPaul'sCathedralSchool|£10,352|
|City&GuildsofLondonArtSchool(2)|£22,500|
|TheGuildhallSchoolofMusicandDrama|£10,000|
|UniversityCollegeLondon|£9,000|
|CityofLondonFreemen'sSchool(2)|£8,000|
|CityofLondonSchoolforBoys|£8,000|
|CityofLondonSchoolforGirls|£8,000|
|Reed'sSchool|£7,500|
|RoyalCollegeofArt|£6,000|
|ChelseaAcademyFoundation|£5,000|
|HollandParkSchoolTrust|£5,000|
|MansionHouseScholarshipScheme|£5,000|
|UniversitiesCollegesChristian|£5,000|
|UniversityofSt.Andrew's|£5,000|
|City&GuildsofLondonInstitute|£3,000|



||£311,912|
|---|---|
|TotalGrants|£1,023,645|



||£213,182|
|---|---|
|Youth||
|NoGoingBack|£10,000|
|ABandofBrothers|£5,000|
|ArundelCastleCricketFoundation|£5,000|
|BeFreeYoungCarers|£5,000|
|Black&MEYoungPeople'sProject|£5,000|
|CAFLO|£5,000|
|MarkEvisonFoundation|£5,000|
|OurTime|£5,000|
|TheBreckFoundation|£5,000|
|ThePreciousTrust|£5,000|
|TheSeparatedChildFoundation|£5,000|
|TheUlyssesTrust|£5,000|
|HothouseTheatre|£4,987|
|TheYouthCounsellingProject|£4,900|
|DoorstepLibraryNetwork|£4,780|
|YoungPeople'sPuppetTheatre|£4,500|
|KidsinMuseums|£4,000|
|LightUpLearning|£4,000|
|YoungSpeakersScotland|£4,000|
|ExposureOrganisationLimited|£2,000|
|Awardsunder£2,000(4)|£2,361|
||£100,528|