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2022-04-05-accounts

The Worshipful Company of Butchers General Charities Annual Report and Unaudited Accounts 5 April 2022 Chsfity Regkstraticin Number 257928 (Engtand and W81861

Contents Reports Legal and administrative information Trustees. report Independent examinels report 10 Accounts Unaudited stslement of financial activities 11 Unaudrted balance sheel 13 Principal a¢¢ounling policies 14 Unaudited notes to the accounts 17 The Worshipful Company of Butchers Gener81 Charit¢es

Legal and administrative infomiation Trustees Master, Wardens and Court of the Art or Mislery of Butchers of the City of London Members ofthe Court Peter Alten John Allton Jones- Chair Charities Committee from 0910912021 David Baker Graham Baker-chair Charities Committee from 1010912020-0810912021 Margaret Boanas-masler from 0910912021 Bob Bansback-{Resigned 091912021) William Buchanan-from 0910912021 Andrew Burton- from 0910912021 Amanda Buitelaar- from 0910912021 Steve Chick Jim Connell Paul Dolan Tim Dumenil Rachel Griffiths Gwyn Howells And￿W Parker-master from 1010912020-09l09￿O2l Julien Putsglove Dave Richards Jean Sawdon Anthony Stanton Timothy Stone Alan Thompson-(Resigned 0910912021) Robert Y8ndell-IResigned 09109120211 Christopher Wood Registeredlprincipal olfice Worshipful Company of Butchers Butchers, Hall 87 8artholomew Close London EC1A 7EB Telephone Fax number 020 39318350 020 7606 4108 clerk bulch&rshall.com E-mall Charity rngistration number 257928 (England and Wales) The Worshipful Company of Butchers General Charities

Legal and admlnl8tratlve Informatlon Independent Examiner Kreston Reeves LLP Chartered Accountant$ 2nd Floor 168 Shoreditch High Street London E16RA Bankers CAF Bank Limited 25 Trfjngs Hill Avenue Kings Hill West Malling Kent ME19 4JQ Investment advisers Investe¢ 30 Gresham Street London EC2V 7QP The Worshipfvl Company of Butchers General Charities

Trustees, report 5 April 2022 The trustees have pleasure in presenting their annual report and the accounts which represent the activities of the charity for the year ended 5 April 2022. These have been prepared in accordance with the accounting policies sel out on pages 14 to 16 of the attached accounts and comply with the charity's trust deed, the Charities Act 2011 and Accounting and Reporting by Charities." Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021. Structure, govemance, and management Legal Status Under a Scheme ofthe Charity Commissioners dated 21 April 1999, the charities previousty known separately as The Worshipful Company of Butchers General Charities and The Worshipful Company of Butchers, United Charities were reorganised 8s The Worshipful Company of Butchers General Charities. The following is a history of the fomier charities that were combined.. Tha Worshipful Company of Butchers General Charities The Worshipful Company of Butchers General Charities fund was established on 2 Janlsary 1969 by The Master, Wardens and Commonalty of the Art or Mislery of ButGhers ofthe City of London lo support charitable purposes anywhere in the world. The General Funds were derNed from donations from liverymen and included appea15 launched by Past Master Norman Poultney in 1987 and in celebration of the additions lo Butchers Hall launched in 1996 and subsequent initiatives. The WorJhipful Company of Butchers United Charities The Worshipful Company of Butchers United Charities was established by a Scheme of the Charity Commissioners on 17 January 1968 as amended by an Order of the Commissioners dated 1 September 1987, which amalgamated various small trusts which were managed by The Worshipful Company of Butchers. The Funds were derived from. • The Charity of Alfred Lyon comprised in a trust deed dated 11 Octoter 1892. • The Charity of Benjamin Bloomfield Baker, founded In February 1896. • The Charity of Rulh Bayley, founded by will proved at London on 17 August 1840. • The Charity ofwilliam James Bonser, founded on 23 August 1888. • The Charity called The Charles Valents'ne Game Fund, founded on 6 April 1899. The Worshipful Company of Butchers General Charities

Trnsteos, report 5 April 2022 Structiirej governance, and managoment Icontinuedl Legal Status {continuedJ The Worshipful Company ofButch8rs United Charilies (continued) • The Charity known as The Poor Fund. consisting of (1) The Charity of James Leverett and121 The Playing Acts Money. • The Charity called The Leo Zwanenberg Gift, comprised in Ihe declarations of trust dated 27 February 1934 and 5 April 1935 and an Order of the High Court of Justice (Chancery Division) of 25 March 1963. The charity's ￿gIStered number was 238587. The charity under the Scheme was required to make various small annual payments due under the originating trusts of the constituent parts which were amalgamated. Beyond this the charity was established to relieve need, hardship, or distress either generally or to individual persons with preference lo such persons involved in. or associated with, the meat or a$S￿lated trades. Govemance The trustees of the charity are the Master, Wardens, and Assistants of the Court of the Worshipful Company of Butchers I'WCB'I. The Charity and Education Committee, comprised of a Warden as the Chairman and selected Court members. as well as co-opted liverymen, run the routines ensuring that there is a strategy and a plan and that it is executed correctly. seeking approval from Court for key decisions. The day-to-day administration of the charity is undertaken by the Worshipful Company of Butchers. Committee members are recruited from among the Livery of the Worshipful Company of Butchers. Membership rotates every September although 2 few Liverymen remain on the committees for or more years to provide continuity. The Chaimian normally remains in post for two years. Al the first meeting of each committee, the Clerk briefs all the new members on their responsibilities and gives each new member a copy of the governing scheme and the latest report and accounts. The charity's investments are managed through the Charity Committee of The Worshipful Company of Butchers which meets four times a year. The Charity Committee has appointed Inveslec as their investment manager, working to an advisory mandate. The Worshipful Company of Butchers General Charities

Truslegs, report S April 2022 stw¢ture, governance, and management Iconlinued) sk Management The Iruslees are satisfied that the current levels of intemal financial controls mitigate the risk of error and fraud. Considera*"on of investment risks was induded in the tender prO￿sS for an investment manager. The wider concepts of strategic and business risk were considered during the financial year and have been reported. The trustees aim to continue monitoring risk a5 an ongoing process that is part of the norn￿1 daity management of the charity. It is felt that this method is proportionate to the levels of income and expenditure typical of this Charity. Objectives and activities The objects of the charity are.. (1) The relief of persorss who a￿ in conditions of need, hardship, or distress. with a prefe￿n￿ for.. {a} Freemen of the Butchers, Company, their widows, or dependants, and (bl persons who are, have been, or intend lo be engaged in the meat or associated trades, and theirdependants. The trustees may relieve such persons by.. lil making grarsls of money to them., or (li) prov¢ding or paying for goods, setvices, or facilities for them. or lili} making grants of money to other persons of bodies who provide goods, services, or faoilities lo those in need. (2) The furtherance of such ¢haritable purposes in any part of the world as are determined from time to kn'me by the trustees. The first obje¢b've is achieved through direct grants to individuals. The second objective is achieved by concentrating on or three selected charit￿$ to which in4epth support is given. Additionally specific major appeals such as the Poppy Factory and the Lord Mayor of London's charity would be supported annually. The charity retsins a small contingency sum to be available for other causes as the Committee choose to support. In the 202112022 financial year our major charity 5UPPOrt went to Meningitis Now and Teach First. These charities a￿ designated to be beneficiaries of major awards. There are several essential and desirable criteria for major awards which are.. Essential Criteria- Major Awards • A limited number of charities to be $upported with meaningfvl sums which should be in the region of £20,000 per annum plus any additional sums during the period of award as may be available $ublect to the overall funds available and other commitments. • Annual donations are linked to investsment income generated. Support should be provided for a period of al least 3 years. The Worshipful Company of Butchers General Charities

Trustees, report 5 April 2022 + WCB should have a demonstrable relationship with the charity e.g., WCB providing practical engagement as well as finanoial support, bul it is recognised that the work of some charities may preclude this. + The charity should provide accreditation of WCB that enhances the profile of WCB. Desirable Crrteria for Major Awards • Preferred charities to have nationwide rather than London centric activities. + Dependent on successful relationships consideration should be given to extending the initial period of 3 years. • The administrative expenses of the charity should be reviewed and cons￿ered reasonable in the context of the scope and size of the charity. • Potential reciprocity, if appropriate. should be sought through hire of Butchers, Hall andlor involvement and acknowledgement of WCB through PR and olher events. We continue to support several other charities, the majorty of which a￿ annually recurring su¢h The Lord Mayor of London Appeal, The Poppy Factory, The United Guilds Service, St Bartholomew the Great Church, The St Paul's Cathedral Foundation and The Treloar Trust. There are several essential criteria laid down for these minor awards vthich are.. Essential Criteria- Minoi Awards Minor Awards will be made to a limited number of good causes with which the WCB is linked and rep￿Sented. • Minor Awards will be reviewed annually but can be expected to be repetitive due to the nature of the.good cause.. In that respect the Charty Committee will recelve guidance from the Clerk. • Minor Awards are as much a commitment as Majof Awards and must be considered simultaneously against the funds available foi distribution. • Minor charities, such as hospices, do not necessarily require having a national footprinL The Worshipful Company of Butchers General Charities

Trustees. report 5 April 2022 Grant making policy and grants made The charity made donations to 7 {2021". 111 different charities during the year totalling £67,42012021'. £59,526). Two grants committed in previous years were not tsken up by the reclpients and are now being credited back. CharItsb￿ actimlies A¢¢nJed (Yants no Iwoer commltlèj HMS Tyne KirvJs Schcol Bnrton Menlngitls Now No GoirKJ Back Parti￿ent Hill School 2022 £600 2021 -£306 -£4,600 -£20,000 £0 -£1,000 -£4,500 £0 -£23,000 -£1,000 £0 -£6.500 Poppy F&ctL¥y F 1.1 St BartMom8ws Church -£5,500 -£4,000 -£23,000 -£4.000 £0 £0 -£1,020 -£67,420 -£3,500 -£2,000 -£20,000 £0 -£2,000 -£600 -£1,020 -£59,526 St.Paufs Calhadral Ftyjndat Teach First Treloar SchD TreOIarTn￿t United Gullds I￿lI11dU¥I Grant One individual within the objects of the charity received financial assistance during the year. Public Benefrt The charity makes grants to a variety of individuals and organisations in pursuit of its charitsble objectives. The trustees have tsken due consideration of the Charity Commission guidance on Public Benefit in reviewing the charity's activities. Achievements and perfonnancts Apart from the financial amounts donated to Meningitis Now and lo Teach First, there has been a Significant amount of engagement from Liverymen in the fomi of school visits to workplaces as well as preparation of career videos. coaching teachers, and connecting Teach First with Harper Adams. Flnanclal revlew Total income for the year was £87,899 (2021.. £78,962} and total expenditure was £77,851 {2021'. £69.022). After gains on investments of £137,131 {2021'. Gain £344.5091, net expenditure for the year was £147,17912021. net expenditu￿ £ 354,4491. The restricted fund balance of £2.074 {2021.' £3551 rep￿Sents inwme arising on the King's School Bruton permanent end¢)wment fund that had not been spent at the year end. The Worshipful Company of But¢hers General Char￿.eS

Trustees, report 5 April 2022 Flnanclal revlew (continued) The Butchers, Company has promoted the benefits of voluntary donation5 to the capital funds of the charity from amongst ils Livery Membership. The trustees decided to increase the capitsl base of the charity to improve the size of grant-making in the ftrture. The charrty remains in a strong financial position with all assets easily realisable at short notice. Reserves and Investment Policy Considering the limited scope for fundraising, coupled with the increasing demands of other bodies seeking assistan￿, the trustees consider that the reserves are not excessive. The assets in the general. restricted, and pemianent endowment funds are adequate lo fulfil the obligations of the charity, and the former are realisable at short nots"ce. The investment manager Is employed on an advisory basis. working within the terms C4)ntained within the standard terms of investment approved by the trustees ¢Yuring the year. All investments are quoted on the London Stock Exchange. All investments have been acquired in accordance with the statutory powers available to the trustees. The main investment objective and the risk tolerance of the investment Folicy approved by the Courtare.. To achieve a total ￿al return over a five year period to preserve the pemanent endowment in real terms whilst sustaining a spending rate of 3% of the total asset value per annum. To maintain an overall total risk level that redU￿S to an acceptable level the likelihood of the portfolios total retum being exhausted under any likely five-year market fall whilst allowing the charity to support ils $pending commitments over this period At 5 April 2022 there were total reserves of £2,220,677 12021.. £2,073,498), including £476,814 {2021.' £450,208) of pemianenl endowment fvnds and £2,074 12021. £3551 of restricted funds. leaving free reseNes of £1,741.78912021'. £1,622,935). Statement of trustees, regponsibilitles The trustees are responsible for preparing the annLtral report and accounts in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Practice). Charity law ￿qUireS Ihe trustees to P￿pare accounts for each financial year which gNe a true and fair view of the charity's income and expenditure during the year and of its situation at the end of the year. In preparing those a¢¢ounts, the trLbStees are required to.. • select suitable a¢¢ounting policies and then apply them consislentty. + observe the methods and principles in Accounting and Reporting by Charities.. statement of Recommended Practice appli¢able to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. The Worshipful Company of Bul¢hers General Charities

Trustees, report 5 April 2022 • make judgements and estimates that a￿ reasonable and prudent. Statement of trustees, responsibilities (continued) • stste whether applicable United Kingdom Accounting Standards have been followed, sijbject to any material departures dis¢losed and explained in the accounts.. and • prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the a¢coLFnts comply with the Charities Act 2011, applicable Charity (Accounts and Reports) Regulations and the provisions of the chartty's eonststulion. They a￿ also responsible for safeguarding the Charity's assets and hence for taking reasonable steps for the prevention and detection of fraud and b￿acheS of law and regulations. Approv by the trustees d signed on their behalf by.. aimian of t ies Committee Approved on.. 202 The Worshipful Company of Butchers General Charities

Independent examiner’s report 5 April 2022

Independent examiner’s report to the trustees of The Worshipful Company of Butchers

General Charities

I report to the charity trustees on my examination of the accounts of the charity for the year ended 5 April 2022.

Responsibilities and basis of report

As the trustees of the charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with my examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report to enable a proper understanding of the accounts to be reached.

Stephen Tanner (BSc) (Econ) FCA Kreston Reeves LLP Chartered Accountants 2[nd] Floor 168 Shoreditch High Street London E1 6RA

05 July 2022

The Worshipful Company of Butchers General Charities 10

Unaudited statement of financial activities 5 April 2022 Unrtr$trictod fvnds Restricied funds Pernianent endowment funds Total 2022 Notes In¢omè from: t)onations and lega¢￿d$ Inveslrnents Total income 39,701 48,479 88,180 39.701 48.198 87,899 1,719 1,719 Exponditure on: Raising funds Charitable actwities 7,531 70.320 77,851 7,531 70,320 77,851 Total expendltur¢ Net Income for the year before investsnent gains and loss 8.329 1.719 10,048 Gains on inve8bnents 110.525 26,606 137.131 Net income and net movement In funds 118,854 1.719 26.606 147,179 Fund balances brought forward at 061rA12021 1,822,935 355 450,208 2.073.498 Fund balances carried forward at 0510412022 1,741.789 2.074 476,814 2.220,677 The Worshipful Company of Butchers General Charities 11

Unaudited statement of financial •¢llvlties S April 2021 Unreslri¢ted funds Restricted funds Permanent endowment funds Total 2021 Notes Income from: Donations and legacies Investments Total Income 17,291 60,120 77.411 17,291 61,671 78,962 1.551 1,551 Exp¢ndlture on: R8i$ing funds Charitable activitses Total oxpfrndlturo 6.475 57,947 64,422 6,475 62.547 69,022 4,600 4.600 Net Income lexpendlture) for the year before investsnent galns and losses 12.989 {3.049) Gains on investments 272.314 72.195 344.509 Net income lexpenditur¢l and net movemont in fund$ 285.303 (3,0491 72.195 354,449 Fund balances brought foNard at 0610412020 1,337,632 378,013 1,719.049 Fund balances carried fornard at 0510412021 1,622,935 355 450,208 2,073.496 None of the charity's activitses were acquired or pemianently discontinued durtng the above two financial periods. The Worshipful Company of Butchers General Charities 12

Unaudlted balance sheet 5 April 2022 Notes 2022 2021 Flxed assets Investments 2,167,637 2,035,952 Current assets Tax recov¢rable Piepaymenls and 3￿rued iFEcome Cash 81 bank and in hand 2.672 8,847 44.056 55.575 3,739 11,764 27,685 43,188 Creditorn.. amounts falling dut wlthin one ye -2,535 -5.642 53.040 37,546 Ntrt ¢urr¢nt assets Net as$•ts 2.220,677 2,073,498 The funds of the charlty Permanent endowment funds Re8tricted funds Unrestricted general fvnds 476,814 2,074 1,741,789 2,220,677 450.208 355 1,622,935 2.073.498 The accounts on pa ned on th 11 to behalf by.. O were approved and authorised for issue by the trustees Trustee Approved on. l J 022 The Worshipfvl Company of Butchers General Charities 13

Prln¢ip21 ac¢ounllng poll¢les 5 April 2022 The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the accounts are laid out below. Basls of preparation These accounts have been prepared for the year to 5 April 2022 with comparative Information presented for the year ended 5 April 2021. The accounts have been prepared under the historical cost Convention with items recognised at cost or transaction value unless otherwise staled in the relevant actounting policies below or the note5 to these accounts. The accounts have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordan¢e with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) and the Charities Act 2011. The charity constrtutes a public benefit entity as defined by FRS 102. The accounts a￿ presented in sterting and are rounded to the nearest pound. Crltlcal accounting estimates and arèas of Judgement In preparing the accounts the Iruslees and management were not required to make Slgnificant judgements and estimates. With regard to the next accounting period, the year ending 5 April 2023 the most slgnlficant areas that affect the carrying value of the assets held by the charity are the level of inveslmenl return and the performance of the investment markets. Assessment of going concern The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The trustees have made this assessment in respect to a period of one year from the date of approval of these accounts. The trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast Significant doubt on the ability of the charity to Continue as a going concem. The trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due. The Worshipful Company of Butchers General Charities 14

Prlnclpal accountlng pollcles 5 April 2022 Donations and Legacies Donatsons are recognised when receivable and the amount can be measured reliably by the ¢harity- Legac￿ are included in the statement of financial activities when there has been a grant of probate, the executors have estsblished that there are sufficient surplus assets in the estate to pay the legacy, and any conditions attached to the legacy are within the control of the charity. Interest and divldend In¢orne Interest on funds held on deposit is induded when receivable and the amount can be measured reliably by the ¢harity. This is normally upon notification of the inlerest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notificats'on has been received of the dividend due. Expenditure Expenditure is recognised once there is a legal or conslruclive obligation lo make a payment to a third paty. il is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Al expenditure is comprised of direct costs incurred on raising fvnds or activities in furtherance of the charitable objectives and is accounted for on an accrual's basis. Grants payable are included in the ststement of financial activities when approved and when the intended recipient has either received the funds or been infom)ed of the decision to make the grant and has satisfied 811 performance conditions. Grants approved but not paid at the end of the ffnancial year a￿ accrued. Grants where the beneficiary has not been informed or must fulfil performance conditions before the grant is released are not a¢orued for bL¢t are disclosed as financial commitments in the notes to the accounts. Investments Investments are a form of basic financial inslrument and are initially recognised at their tran5aGtion value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Realised and unrealised galns lor losses) are credited {or debited) to the statement of ffinancial activities in the year in which they arise. Debtors Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued al the amount prepaid, Cash at bank •nd in hand Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three trnnlhs from the date of acquisition. The Worshipful Company of Bul¢hers General Charities 15

Piincipal a¢¢ounting poli¢le$ 5 April 2022 Creditors and provisions Creditors and provisions are recognised when there is an obligation al the balance sheet date because of a past event, rt is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliabty. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt. Funds Endowment funds comprise monies which must be held as capital. Pemianent endowment funds must be permanently retained by the trustees and cannot normally be spent as if they were income. Income arising from endowment funds is credited lo general funds and applied for general purposes unless re$tri¢led for a specific purpose when il is credited to restricted funds. ReslTiCted fvnds comprise mnies raised for, or which have their use restrscted to, a specific .purpose, or contributions subject lo donor-imposed conditions. General funds represent those monies which a￿ freely available for application towards achievin9 any chanlable purpose that falls within the charity's charitable objects. The Worshipful Company of Butchers General Charities 16

Unaudited note5 to the a¢¢ounts 5 April 2022 1 Donations and lega¢ie6 Pormanent Restricted endowment funds funds Unrestricted funds 2022 General donations Legacy 2022 Totsl 19.701 20,000 39.701 19,701 20.000 39,701 Pemanent Restricted endowment funds funds Unrestricted funds 2021 Generaldon8tion$ 2021 Total 17,291 17,291 17,291 17.291 2 Investment incorne Pem8nent Restricted endowmenl funds fvnds unreStr￿ted funds 2022 Interest iyi cash with bank and sl(xa(broker Equities and fixed interest securities 2022 T¢tal 48.479 46.479 1,719 1,719 48,198 48,198 Pemiarent Restricted endowment funds funds Unre51ricled funds 2021 Int&￿st ort cash trvith bank and stockbroker Equities and fixed seGuiilies 2021 Total 60,115 60,115 1,551 1.551 61,666 61,666 3 Expenditure on raislng funds Expenditure on raising funds compri5e5 investrnent management fees which are charged to unrestricted funds. The Worshipfijl Company of Butchers General Charities 17

Unaudit¢d notes to the accounts 5 April 2022 4 Charitable aclivities 2022 2021 Grants to charities Major grants lover £1.000> Other grants 66.400 57.6 66,400 5B,508 Grants to individuals {0 beneficiary) Support costs 1,02 2,900 70,320 1,020 3,021 62,$47 Details of grants to charities a￿ sel oul in the trustees. report. All charitable expenditure is unrestricted. The charity is administered on a pro bono basis by The Worshipful Company of Butcher5. The trustees receive no remuneration or expenses from the charity. Support costs include the independent examiner's fee of £2,52012021. £2,520). 5 Investments 2022 2021 At market value= As at 6 April 2021 Additions Dispos81 pmceeds Gainlloss on disposal and revaluatron INCREASEIDECREASE Capital Accounts Funds As at 5 April 2022 2.035.952 1,642,814 325,405 1,018,915 1306,5721 (905,8421 112,770 344,509 82 164,4441 2,167,637 2.035,952 Market value 2022 Market value 2021 Portfollo structure Ftxed Interest UK Equities Intemational Equities Property tematives Cash As at 5 April 2022 163,726 506,667 1,080,999 77,868 326.273 12.304 2,1 S7.637 181,597 633.833 944,725 43,254 220,454 12,089 2,035,952 The Worshipful Company of Butchers General Charities 18

Unaudited notes to the accounts 5 April 2022 6 Permanent endowment funds + The King's School Bruton Fund was created by a donation of £50,000 (including Gift Aid) received in 2001-2002. All Income arising is restricted to the general-purpose uses of the King's School, Bruton, Somerset. + The Livery Donabon Capitsl Fund comprises of donations made by livery members of the Worshipful Company of Butchers. The Trust for Investment is the value in the accounts in 2012. • The Charity Commissioners, Fund was formed under the Scheme dated 21 April 1999. All income arising is available to support the first object of the charity {see page 51 relating to the relief of individuals. The Trust for Investment is the value in the a¢¢ounls in 2012. • The Master's Events Fund comprises donations and monies raised at events insligaled by the Master of the Worshipful Company of Butchers. The Trust for Investment is the value in the accounts in 2015. • No dNidend income is allocated to the unrestricted endowment funds as Income arising from the fund is available for the general purposes of the charity- talfitya S¢lm¢¢f1999 Fund 118,688 128.475 51,898 348,881 32,607 1,07D' 28,W6 161,082 ¥768 ￿,205 Twsl Fcrf U￿￿ed Total Reium EthhTn¢rt al￿011)Y21 Mo¥eMeNtslnYear InvestmentRetum-Cividend Investment RetUFn.Realisedand unipali5edgainsandlosses LessExpendituie ETrdry￿nta58tAgétS￿prfl 2022 14736 e4,736 171,V IIJM 10,513 3.444 26,rf e6,181 182,823 171,595 &212 4Th814 7 Rgstrictod Funds The restricted fund assets are represented by unspent investment in¢ome arising from the King's School Bruton pemianent endowment fund. The Worshipful Company of Butchers General Chanties 19

Unaudited notes to the accounts 5 April 2022 8 Statement of Funds 'a scrth 8LttsnFmJ y Fmd 18 iQ82 171. 11 2t1 161.C 10.513 527 21 476.81 1.741 78 207 Unre$￿tte0 Funss Resmaeo Funo ￿41&￿ Suffju6 1.622 110.5# 46.479 .701 In.$51) 479 41 PernentEndDwreAt SthdBnknnFur 143.018 124,Z% 43973 37&013 1.337.632 W9 161.C 5276 q).2)8 1.62 aers E%*rts Fiffj¢ 721 272 $14 13049) DWStn(gifj S¥nos tstnued Ftsnd Bnjton 5L¥WS ,1 17￿1 1644221 T4X¥ 17.291 422 9 Post Balan¢0 Sheet Event The market value of the General Charity investments at the balance sheet dale was £2,155,333 as at 241612022 il is £1,964,S10. This is a 90A decrease. The current market is extremely volatile, and values are expected lo recover over the next year. The Worshipful Company of Butchers General Charities 20