THE FELTMAKERS
CHARITABLE FOUNDATION
Registered Charity Nuinber 259906
REPORT AND FINANCIAL STATEMENTS
31ST MARCH 2024
DALY, HOGGETT & CO.
Chcll"tereLI Accountants
5-11 Moi'timer Street
LoiiLlon
WIT 3HS

THE FELTMAKERS CHARITABLE FOUNDATION
CONTENTS
PAGE
Charity Information
Report of the Trustees
Independeiit Examiner's Report
Statement of Financial Activities
Statement of Financial Position
Notes to the Financial Statements
Five Year Summary (For Information purposes only)
16

THE FELTMAKERS CHARITABLE FOUNDATION
Trustees during the year:
P.C.C. Simeons (Cliairmclll)
J.S. Ray - retired 18.10.2023
N.G.B. Edwards- retired 06.10.2023
M.L. Williams
N.C.L. Macdoiiald
Ms A. Mannix
J.E. De Broe-Ferguson
T.E. Stocks
Lt Col S.E. Wilkiiison - appoiiited 06.10.2023
Clerk to the Trustees:
Major General A.M. Smytli
Principal Address:
13 Bircli Close
Bouiidstoiie
Farnliam
Surrey
GUIO 4TJ
Bankers:
CAF BANK Ltd.
Kings Hill
West Malling
Kent
ME19 4JQ
Independent Examiners:
D J Bartlett, FCA
Daly, Hoggett & Co.
Chartered Accouiitants
5-11 Mortimer Street
Loiidoii
W1T3HS

THE FELTMAKERS CHARITABLE FOUNDATION
REPORT OF THE TRUSTEES
The Trustees present tlieir Report and Accounts for the year ended 31st March 2024.
Statutory Information
The Charity was establislied by a Trust Deed dated 2nd October 1969 by tlie City of London Livery
Compaiiy giveii its full Iiame iii tlie Deed as The Master kvardens and Commonalty of the Art or
Mistery of tlie Felhiiakers of London aiid described in the Deed as Tlie FouIidei Tlie Fouiider is more
commonly known as The Worsliipful Conipany of Feltmakei's aiid has the power to appoint tlie
Chai'ity's Tru5tee5, wliich it exercises by Resolution. The origiiial deed was replaced by a new deed
dated Iltli July 2008.
The Charity's name in the Register of Charities is The Feltmakers Charitable Foundatioii and its
registered number is 259906. Page 1 of these Accouiits also contains certain statutory informatioii and
should be regarded as an integral part of this Report.
Charitable Objects
The Trust Deed allowrs the Trustees absolute discretion to apply the income and, to the exteiit provided,
the capital of the Fouiidation for Cliaritable purposes and places 110 restriction on tlie cliaritable areas
to whicli their applicatioii of fuiids sliould be directed. Iii practice, due to tlie Fouiidation's relationsliip
with The Founder, tlie Trustees have lai'gely directed theii. charitable giving to objects wliich are either
related to the Felt Hat Manufacturing Industry or are associated witli tlie City of London wliere the
Founder is based. As previously reported, the Fouiidation is suppoi'tllig tlie Helen Arkell Dyslexia
Cliarity and a youiig milliner based at Cockpit Arts in London, where they offer an expert busiiiess
package and cledicated studio space to people developiiig tlieir careers iii coiiteinporary crafts. It is also
the UK'S only business incubator for makers and designers. Due to tlie COVID paiidemic, tlie support
for botli had been suspended but tlie Trustees were able to resunie tlie Fouiidation's support for Heleii
Arkell during the previous finaiicial year. Support for Cockpit Arts resumed during the flliancial year.
The period of support for Helen Arkell lias Iiow coiiie to ali eiid and, following recommendations made
by the Charity Committee of tlie Founder, tlie 'frustees have agreed to support tlie Bi'ain Tumour
Research Trust for a period of three yeai's, subject to aiinual review.
Distribution and Reserve Policy
Tlie Trustees aim to distribute the majority of the Foundation's aiinLial net income taking oiie year with
another. Subject to any donor restrictions, legacies aiid otlier Iump suni donations received are normally
added to capital funds iii order to iiicrease future iiiconie and consequeiitial graiit making capacity.
The details of donations to wliich restrictions apply are shoNvn separately in tlie accouiits.
Investment Policy
The Investnieiit policy of the Trustees is to seek to get tlie greatest possible overall return on tlie
investinent portfolio irrespective of wliether tliat return is derived as conventional income or as capital
appreciatioii. There are no restrictions 011 tlie types of llivestment that tlie Trustees can acquire.
Management
Tlie Trustees meet on a regular basis in order to fulfil their duties and ensure tliat the objectives of the
Fouiidation are niet. In tlie course of their duties the Trustees regularly review the major risks to which
the Foundatioii is exposed and ensure tliat appropriate steps are takeii to mitigate them.

THE FELTMAKERS CHARITABLE FOUNDATION
REPORT OF THE TRUSTEES CONTINUED
Review of 2023
24
Introduction
Tw'o changes occui'red in the coniposition of the Board of Trustees during the year. In October 2023,
the aiiiiual cliaiige in the ex-officio appoiiitnient of the Mclster of our Founder took place wlien Lt Col
Simon Wilkin5011 succeeded Mr Neil Edwai"ds. Also in October 2023, Mr John Ray retired as a Trustee.
Financial Information
Income
The Foundation's incoiiie for tlie yeai. from grants and doiiations aiiioiiiited to £25,209 compared with
£33,584 in the previous year. Duriiig tlie year, tlie tlieii Master, Mr Neil Edwards, held successful cliarity
events at Kew Gardeiis and Tivickenhani. The funds froiii tliese events have been used to assist our
Iiomiiiated charity, Heleii Arkell Dyslexia Cliarity, aiid tlie Mastei s choseii charit),, My Nanie'5 Doddie.
The Trustees are Iiiost grateful for a legacy of £1,000 received from the late Honorary Liverymaii
Baroness BoothroyLI.
Receipts from doiiors to tlie St Clenients initiative uiifortuiiately fell again during the year. The Trustees
express their thaiiks to all Liverymeii wlio contribute to the sclieine and would encourage all tliose wlio
do not currently contribute to consider making an aniiual contribution.
The Foundatioii's iiivestment iiicome iiicreased during the year to £28,162 froni £26,456 in tlie previous
year.
Out
oin
Grants
During the period under review, graiits totallllig £43,802 (2023: £51,966) were niade. In adcqition to
providing support to Pensioiier Hatters of £12,460 aiid £7,250 foi. tlie Feltiiiaker Awards, graiits totalIing
£24,092 (?0?3: £32,216) were made to 12 (2023: 10) other charitable bodies.
We coiitiiiue to support our regular beneficiaries such as tlie Loi'd Mayor's Appeal aiid tlie armed forces
and increasingly assist charitable veiitures undertaken by our Liverymeii.
The Feltmaker Design Award Competition continues to attract a gi'eat deal of interest iii tlie millinery
worlLI and we were pleased to be able to Inaiiitalll the prize for tliis Award at £4,250.
Investment Portfolio
The year under review again saw volatility in tlie financial niarkets. Hom'ever, at tlie year end, the value
of the Fouiidation's iiivestnieiits had risen by £59,380. Tliis represents an inci'ease iii the general fund of
£54,345 and £5,035 in the Eiidowiiieiit Fund. Duriiig tlie yeai. we remained largely invested iii
Investnient Trust conipaiiies but late in the year decided that we would switch the bulk of our holdings
to Charity Multi Asset funds. Duriiig tlie year, ali inveshneiit of £2,997 in 615 Personal Assets Trust was
Inade by the Eiidowiiieiit Fund. The value of tlie Foundation's ijivestmeiits at 31st March 2024 was
£961,882 (20?3 £899,505). Tliere were no otlier cliaiiges in iiivestments held during tlie year. The
Trustees would like to tliank tlie Investnient Coiiimittee of the Fouiider for their help aiid advice in
maiiagiiig the Foundatioll's llivestments.

THE FELTMAKERS CHARITABLE FOUNDATION
REPORT OF THE TRUSTEES CONTINUED
Outlook
After three years of support for the Helen Arkell Dyslexia Cliarity, it was decided to cease our support.
Followllig reconimendations froni the Charity Committee of the Fouiider, tlie Trustees agreed to
support Tlie Bi'ain Tumour Researcli Trust. This charity will now be the main focus of support for the
Foundation for tlie next tliree years, subject to aniiual review.
A suitable candidate has Iiow been selected and our support for Cockpit Arts will coiitiiiue.
The Mastei. inteiids to hold various charity events during tlie comiIig year. Fuiids froni these events will
be sliared betw'een the Foundatioii, Tlie Brain Tumour Trust aiid a cliarity of the Master's clioice.
The Foundatioii continues to assist trade related activities of current niillinei's and siipport retired
milliners, aloiig witli activities associated with the City of London aiid the armed forces and cadets. As
always, tlie Triistees will be receptive to any new suggestioiis for graiit-lnaking opportuiiities Iiiade by
our Liveryiiieii.
Responsibilities of the Trustees
Tlie Trustees Iiave resolved thclt financiaI statements are prepai'ed for each flliancial year Mrliicli give a
true and fair view of the state of affairs of the Charitable Foundation and of its iiicoiiie and expenditure
for that period. Tlie preparation of tliese fiiiancial stateiiieiits requires the Trustees to:
Select suitable accountiiig policies and then applsi tliem consistently.
Make judgements and estimates that are reasoiiable aiid prudeiit;
Prepare the financial statements 011 the goiiig concerii basis, uiiless it is iiiappropriate to
presunie that the Foundatioii will coiitiiiue lll buslliess.
Coiifirm tliat the Accounts coniply Mritli the curreiit statutory requireiiieiits, tlie requirements
of the Fouiidation's Trust Deed and the Stateinent of Recoiiinieiided Practice for Cliarities, as
far as applicable.
Tlie Trustees are respoiisible for tlie keeping of proper accouiitiiig records, whicli disclose Ivith
reasoiiable accuracy at aiiy time tlie finaiicial position of tlie Fouiidation. They are also responsible for
safeguarding the assets of tlie Foundatioii and hence for taking reasoncible steps for the preveiition aiid
detectioii of fraud and other irregularities.
Approved by the Trustees on 1st July 20?4 aiid signed on their belialf by:
trrnQafi
P C C Simeoiis - Trustee
Lt
I S E Wilkinson - Trustee

INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF
THE FELTMAKERS CHARITABLE FOUNDATION
ON THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024
I report to tlie Trustees on my examiiiation of the accounts of the above Charity ("tlie Foundation"),
Iiumber 259906, for tlie year ended 31st March 2024 as set out 011 pages 6 to 15.
Responsibilities and basis of report
As tlie Charity's Trustees, you are respoiisible for the preparatioii of the accouiits lll accordance with
the requirements of tlie Cliarities Act 2011 ("the Act").
I report in respect of my exaniiiiatioii of the Foundatioii's accouiits carried out uiider sectioii 145 of tlie
2011 Act and in carryiiig out Iiiy exaiiilliation, I have followed all the appliccible Directioiis given by the
Cliarity Comiiiission under sectioii 145(5)(b) of tlie Act.
Independent examiner's statement
I Iiave completed Iiiy exaiiiiiiatioii. I confirm tliat no Iiiaterial matters have coiiie to my attention in
connection with tlie examiiiation wliich gives me cause to believe tliat in, any niaterial respect:
The accouiitiiig records were not kept iii accordaiice with section 130 of the Charities Act. or
The accouiits did not accord with tlie accouiitiiig records. or
The accounts did not comply with the applicable I'equirenieiits concerning tlie form aiid content
set out lll the Cliarities (Accouiits aiid Reports) Regulatioiis 2008 other tlian aiiy requireiiieiit
tliat the accounts give a 'true and fair, view Ivhich is not a niatter considered as part of an
independeiit exaiiiiiiatioii.
I Iiave no coiicerns aiid have come across no othei. niatters in coiiiiection with the examiiiation to Ivhicli
atteiition should be drawn lll tliis report in orLler to eiiable a proper understanding of the accoiints to
be reachecl.
D J Bartlett, FCA
Daly, Hoggett & Co.
CliartereLI Accouiitants
5-11 Moi"tinier Street
Loiidon
WIT 3HS
1st July 2024

THE FELTMAKERS CHARITABLE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31ST MARCH 2024
Notes
Unrestricted
Funds
Restricted
Funds
Endowment
Funds
Total
Funds
2024
Total
Funds
2023
INCOME AND
ENDOWMENTS
Voluntary Income:
Grants, legacies and clonations
Investment Income
Interest Receivable
Income from Fundraising
Events
16,623
26,660
1,052
8,586
25,209
28,162
1,12?
33,584
26,456
264
1,502
70
4b
15,680
Total Income
44,335
8,586
1,572
54,493
75,984
EXPENDITURE
Expenditure on charitable
activities:
Graiits and Doiiations
AdministratioIi aiid Support
Governaiice-Accountancy
and Legal
Expenditure on Fundraising
activities
38,493
4,311
5,309
43,802
5,511
51,966
5,524
1,3?6
1,326
1,296
33,146
Total Expenditure
44,130
5,309
1,200
50,639
91,932
Net Operating Income/(Loss)
for the Year
205
3,277
372
3,854
(15,948)
Net gains/(losses) on investments
Realised
Unreatised
54,345
54,345
5,035
5,035
59,380
59,380
101,400
(101,400)
Net Incomingl(Outgoing)
Resources for the Year
54,550
3,277
5,407
63,234
(117,348)
Balances brouglit forward
at 1st Apri120?3
911,326
1,523
69,937
982,786
1,100,134
Balances carried forward
at 31st March 2024
965,876
4,800
75,344
1,046,020
982,786
A full breakdown of comparative aiiiouiits is sholvn lll note 10.
TIie statenient of fiiiancial activitie5 iiicludes all gatns and losses recogiiised iii tlie year. All income and
expenditure derives fi'oni continLiing activities.

THE FELTMAKERS CHARITABLE FOUNDATION
STATEMENT OF FINANCIAL POSITION AT 31ST MARCH 2024
Notes
2024
2023
FIXED ASSETS
Investiiieiits
961,88?
899,505
CURRENVF ASSETS
Casli at Baiik
Casli at Stockbi'okers
41,779
37,035
CREDITORS: Amouiits falling
due Mritliin oiie year
Accrlials
NET CURRENT ASSETS
84,138
83,281
TOTAL ASSETS LESS
CURRENT LIABILrriES
1046 0?0
982 786
RESERVES
UnrestricteLI Fu IlL-Is
Geiieral
- Designated
883,683
834,481
965,876
75,344
911,3?6
69,937
EndoN%rnieiit Fuiids
Restricted Funds
1046 020
98? 786
Approved by the Trustees 011 1st Jul), 2024 aiid signeLI on tlieir belialf by:
QGThC
P C C Siiiieons - Trustee
Ltc
I S E Wilkiiison - Trustee

THE FELTMAKERS CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
GENERAL INFORMATION
The cliarity is registered in England aiid Wales and is uiii.ncorporated.
The address of tlie pi'iiicipal office is 13 Bircli Close, Bouiidstoiie, Fariiliam, Surrey, GUIO 4TJ.
STATEMENT OF COMPLIANCE
These finaiicial statenients Iiave been prepared in conipliance witli FRS 102, "Tlie Financial Reporting
StanLlard applicable in tlie UK aiid tlie Republic of Irelaiid" the Statement of Reconimeiided Practice
applicable to cliarities preparing tlieir accounts in accordance witli the Fiiiancicil Reportiiig Staiidard
applicable in tlie UK aiid Republic of Ireland (FRS 10?) (Charities SORP (FRS 102)) ￿ld tlie Cliarities Act
?011.
ACCOUNrfING POLICIES
a) Basis of Preparation
Tlie finaiicial statements have beeii prepared uiider the historical cost coiivention modified by tlie
valuation of investments at niclrket Vcilue. The fiiiancial stcltemeiits are prepared in sterlllig, whicli
is the functional currency of tlie charity.
b) Investnieiits
Iiivestiiients are iiicluded at tlieir Inarket value as at tlie balaiice slieet date. Gains or losses arising
froiii disposals of fixed asset uivestments, togetlier witIi unrealised gaiiis aiid losses, are iiicluded
in the statenieiit of finaiicial clctivities.
c) Grants, legacies and donations
Legacies are recognisecl wlien receipt is probable which is normally the granting of probate having
establislied tliat tlie Estate lias sufficient assets to pay tlie legac),.
Other donations (ire recognised at tlie earlier of tlie date of I"eceipt or wheii tliey are receivable.
Gift aid is recogiiised 011 receipt aiid recoi'ded as a sepai'ate donatioii categoi'y.
d) Grants Payable
Graiits payable are accouiited for wheii paid by the Trustees.
e) Restricted and Unrestricted funds
Restricted fuiids are subject to restrictions iii tlieir use as laid dow'n by tlie donor (see note 8).
Uiirestricted fuiids are donatioiis and otliei. iiicoiiiing resources received or geiierated for tlie
FouiiLlatioii's charitable purposes.
Going concern
Tliere are 110 Iiiaterial uncertainties about tlie cliarity's ability to continue.

THE FELTMAKERS CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
g) Taxation
As a registered charity tlie Foundatioii is not liable to United Kingdom income tax or corporatioii
tax on its cliaritable activities.
INCOME AND DONATIONS
GRANTS AND DONATIONS RECEIVED
20?4
2023
UNRESTRICTED FUNDS
St Clemeiits initiative
12,757
13,705
The Mclster's Cliaritable Event
Otlier doiiations
977
Legacy
1,000
1,000
Gift Aid recovered on donatioiis
RESTRICTED FUNDS
Donations for Helen Arkell
7,500
Donatioii for Brain Tuiiiour Research
4,800
The Mclsters, Cliaritable Events
3,40?
3,755
Liveryman's Charity RONV
Source2City
3,350
Grft Aid recovered on doiiations
384
37
TOTAL
4b. INCOME FROM FUNDRAISING EVENTS
RESTRI￿ED FUNDS
Sale of tickets to Master's Cliaritable Event
In addition to tlie donatioiis aiid ticket sales relclted to the Mastei s Cliaritable Event, Nil (?023: £11,623) was
raised for Helen Arkell by ali auctioii riiii iiidependently of the Foundatioii at the eveiit.

-10-
THE FELTMAKERS CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
GRANTS AND DONATIONS PAID
2024
20?3
Support to Pensioner Hatters:
Graiits
12,460
12,000
Feltmaker Awards:
Feltmaker Desigii ANvard
Feltmaker Award - Morley College
Morley College - HNC @ 20 Exliibition
4,250
3,000
4,250
3,000
500
7,750
7,250
Other Grants and Awards:
Providence Row
Treloar College
Lord Mayor's Appeal
Sherrffs, aiid Recorder's Fund
Slieriffs, and Recorder's Fund
Sheriff's Ride
St Paul's Catliedral
St Paul's Cliorister Trust
Cockpit Arts
Heleii Arkell Dyslexia
My Naiiie,? Doddie
HMS Laiicaster
United Guilds
British Red Cross
3,000
3,000
4,000
1,000
3,000
3,000
4,000
1,000
250
1,000
1,500
3,333
2,673
2,636
1,500
200
1,000
1,500
16,791
1,500
175
250
24,092
32,216
43,80?
51,966
TRUSTEES REMUNERATION AND EXPENSES
No amounts were paid to tlie Trustees in respect of reiiiuneratioii aiid expenses for tlie period (2023 -
£Nil).

-14-
THE FELTMAKERS CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
8. ENDOWMENT AND RESTRICTED FUNDS
Balance
1st April
20?3
Bcilance
31st March
2024
Moveiiieiit in Resources
Inconiiiig
Outgoing
Endowment Fund
Restricted Fuiids
Helen Arkell Dyslexia Charity
My Nanie'5 Doddie Foundation
Brain Tuniour Research Trust
69,937
6,607
1,200)
75,344
780
743
1,893
1,893
4,800
8,586
(2,673)
(2,636)
4,800
4,800
1,523
(5,309)
The Endowment Fund comprises donations aiid legacies wliere the doiiors have stipulated that the Capital
is preserved and accumulated for the benefit of future generations and where tliey have also stipulated a
degree of restriction on tlie distributioii of income. Tlie Fund curreiitly results froiii a doiiation froni Past
Master Peter Graiit which required incoiiie to be accuniulated until Iiis deatli.
The Restricted Fund results from donations and otlier income received to support of the Cliarity's work with
the Helen Arkell Dyslexia Cliarity, the My Nanie'5 Doddie Foundation and the Brain T'umour Researcli Trust.
9. ANALYSIS OF NET ASSETS BETIN￿EN FUNDS
Other Net
Assets
Total
2024
Total
2023
Iiivestiiieiits
Endowment Fund
Restricted Fund
Unrestricted Fuiids
General
Designated
72,317
3,027
4,800
75,344
4,800
69,937
1,5?3
823,602
65,963
60,081
16,230
883,683
82,193
834,481
76,845
961,882
84,138
1,046,020
982,786
The Uiirestricted Designated Fuiids relate to a legacy received for tlie late Past Master Mcirtiii Harper, OBE,
wliich tlie Trustees have agreed should be invested and tlie iiicoiiie used to part fuiid the aiinual Hat Prizes
awarded by tlie Fouiidatioii.
Movement 011 UnrestricteLI Designclted Funds comprise:
20?4
2023
Investinent income
Prize payment
Revaluation of investiiieiits
1,782
(1,757)
1,757
(1,744)
5,348
(3,893)
Balance at 1st April ?0?.3
Balance at 31st Marcli 2024

-15-
THE FELTMAKERS CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
10. COIIIPARATIITE AIIIOUNTS FOR STATEIIIENT OF FINANCIAL ACTIVITIES
Unrestricted
Funds
Restricted
Funds
Endowment
Funds
Total
Funds
2023
INCOME AND
ENDOWMENTS
Voluntary Income:
Graiits, legacies aiid doiiation5
Investment Income
Interest Receivable
Master's Charity Event
18,942
25,080
245
14,642
33,584
26,456
264
15,680
1,376
19
15,680
Total Income
44,267
30,322
1,395
75,984
EXPENDITURE
Expenditure on charitable
activities:
Grants aiid DoIiations
Administration aiid Support
Governaiice-Accouiitancy
and Legal
Master's Charity Event
35,175
4,324
16,791
51,966
5,524
1,200
1,296
1,296
33,146
33,146
Total Expenditure
40,795
49,937
1,200
91,932
Net Operating (Loss)/ Income
For the Year
3,472
(19,615)
195
(15,948)
Net gains on investments
Realised
Uiirealised
86,731
(86,731)
14,669)
(14,669)
101,400)
(101,400)
Net Outging Resources for
the Year
(83,259)
(19,615)
(14,474)
(117,348)
Balances brought forward
at 1st April 20?2
994,585
21,138
84,411
1,100,134
Balances carried forward
at 31st March 2023
911,326
1,523
69,937
982,786