THE SHIPWRIGHTS COMPANY CHARITABLE FUND
IINCORPORATING THE SIR JOHN FISHER FUND &
EDUCATIONAL TRUST FUNDI
REGISTERED CHARITY NO. 262043
REPORT AND FINANCIAL STATEMENTS
30 APRIL 2025

THE SHIPWRIGHTS COMPANY CHARITABLE FUND
(INCORPORATING THE SIR JOHN FISHER FUND & EDUCATIONAL TRUST FUNDI
REGISTERED CHARifY NO. 262043
INDEX TO REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Officefs and Advisofs
Rewrt lo the Trustees
3-11
Auditocs Report
12-14
Statemenl of Financial Activitses
15
Balance Sheet
16
Statement of Cashflows
17
Notes to the Financial Statemer*ts
18-25

THE SHIPWRIGHTS COMPANY CHARITABLE FUND
(INCORPORATING THE SIR JOHN FISHER FUND & EDUCATIONAL TRUST FUND)
REGISTERED CHARITY NO. 262043
OFFICES AND ADVISERS
Officgs
Ironmon9ers Hall
Shaftesbury Pla
London
EC2Y 8AA
Trustees
"The Shipwrights. Company" described as Ihe Masters. Wardens. Assistants and Commonaw of The
Ancient Fraternity or 8rolherhood of Free Shipwrights in London" is a corporate Iruslee. Members of the
Court ol Assistants, except those classed as "retired" or "emeritus" are charity trustees. The Court has
fomia11y appointed the Chaimian of the Education and Charities Committee and the Pnme Warden and
Wardens to undertake the business ol the Charity for the lime being. For the year to 30 April 2025 they
were..
Mr S C W Beale- Prime Warden
Admiral Sir George Zafftbella5 GCB DSC DL - Renler Warden
MT A G Bisbas- Third Warden
Mr N J Marshall - Fourth Warden
M5 C M Mulvihill- Fifth Warden & Chair Education & Charsty Committee
Mr N J A Shaw- Immediate Pasl Prime Warden
Ms L M 8ugiJen - Preceding Immediate Past Prime Warden IReb"red 10 April 20251
Mr R H J de C Moore - Honorary Treasurer
Mr J J H Penn IAppoinled 10 April 20251
The following Trvslee was appointed after the year end..
Mr G M Campbell (Appointed l May 2025)
Investment Managers
Cazenove Charities
1 London Wall Place
London
EC2Y SAU
Sarasin & Partners
Juxon House
11)0 St Paul's Churchyard
London
EC4M 8BU
Bankers
Royal Bank of Scotland
Chatham (Shipping)
Waterside Court
Chatham Maritime
Chatham
Kent
ME4 4RT

THE SHIPWRIGHTS COMPANY CHARITABLE FUND
IINCORPORATING THE SIR JOHN FISHER FUND & EDUCATIONAL TRUST FUNDI
REGISTERED CHARrrY NO. 262043
OFFICES AND ADVISERS
Accountants
Moore Family Office Limited
42 Berk&ley Square
London
W1J SAW
Auditors
REJones&Co
Chartered AcGountsnls
132 Buml Ash Road
London
SE12 8PU
Solicitors
Holman Fenwick Willan LLP
8 Bishopsgate
London
EC2N 4BQ

THE SHIPVIRIGHTS COMPANY CHARITABLE FUND
(INCORPORATING THE SIR JOHN FISHER FUND & EDUCATIONAL TRUST FUND}
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 APRIL 2025
The Trustees present their report and financial statements for the year ended 30 April 2025. The report
and financial s¢alemenls have been prepared in accordance with the requirements of the charity's trust
deed, the Charities Act 2011 and Accounting and Reporb"ng by Charitses Slalemenl of Recommended
Practice applicable to charities preparlng their accounts in accordance with the Financial Repo￿.n9
Standard in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20151 (Charities SORP IFRS
10211.
Con$titution and Objects
The Shipwrigh15 Company Charrtable lund 15 constituted under the Deeds of Trust of 30 Apnl 1948 and
22 De￿mber 1970. and is a registered ¢harity. number 262043. The Truslees are reqUI￿d to apply the
Trust Fund and the incorne thereof for such purposes and objects being charitable at law 8$ the Trustee5
may in their absolute and uncontrolled discretion from tsme to lime determine. Under the terms of
reference laid down by the Court in 2002 donalK)ns a￿ directed towards Maritime Projects. the City of
London and 'Mini51enng Authorities", with an emphasis on support lor young people. There were no
changes in the Trust's objects during the year
Objectivos and Activltl•s for thè Publlc 8on•fit
The Trustees confim that they have referred lo the guidance contained in the Charity Commission's
general guidance on public benefit when reviewing the Trust's aims and objectives. in planning future
activities and when setting the grant making policy for the year. The Tnjstees have also tsken Into account
the Ch8nty Govemance Code for smaller charit￿S and have mappe(I the Shtpwrighls. Companls
governance against the seven principles as part of an ongoing programme of continuous improvement.
The Trust carries oul rts objectives by providing grants to individuals and organisations that enable
participants to gain practycal training. education and marine related skills which they would otherwise not
have had access lo. Full details are given in the Review of Activities. Achievements and Developments
on pages 6 to 9. The Trustees are lully satisfied that the Shipwrights Company Charitable Fund operates
for the wide publi¢ benefit In all that il does in rts Charitsble activrties.
Organl$ation
The TnJste&s of tho Shipwright5' Company have U￿"rnate Tesp)nsibility for the operation of the Fund.
Authority for all expenditure lie5 Wlth the Court of Assistants of the Company. as adv15ed by the Finance
Committee of the Cornpany and its professional advisers. Membership of the Court Is conferred by
election from the Livery. Decisions on Cha￿tab￿ donations are delegated lo the Education and Charities
Committee, chaired by a member of the Court, which meets to consider applications for funding. The
Committee has authority to donate up to £2.500 in a single donation but must refer lar9er donations, and
any changes lo the sums donated lo Ihose organisatsons and charities listed under 'Standard Donations
Regular, lo the Court, for endorsement. All donatsons a￿ fom)ally reported through the Wardens lo the
Court as an agenda rtem at its next meeting.
The Charitable and Educational Committees merged on 1 May 2005 in ordew lo provide greater clarity of.
and perspective to. the Shipwrights, financial support to educational and charitable causes. This merger
has reduced the time and costs required lor committee meeting5 and enabled more specialist attention
lo be given to particular activities through the fomiation of specific sub committees. Since 1 May 2013 the
Education Fund has been formally ac￿pIed by the Charity Commission as a restricted fund within the
Charity Fund, lo reduce administrats.ve costs_

THE SHIPWRIGHTS COMPANY CHARITABLE FUND
{INCORPORATING THE SIR JOHN FISHER FUND & EDUCATIONAL TRUST FUNDI
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 APRIL 2025
ICONTINUEDI
Governance
The Company is governed by the Court which has formally appointed the Prime Warden and Wardens
and the Chairman of the Education and Charities Committee to undèrtakè the businèss ol the Charity. so
the Wardens. Commrttee acts as the Board. The Finance Committee advises the Wardens and the Court
on the sustainability and performance of its income sources and their impact on the Company's ability to
achieve Its charitable purposes over time. All members of the Court are rèminded of thèir duties as
Trustees annually and all members ol the Company receive regular updates on the charity's purposes
and beneficial impact.
The Company mel its responsibilities as a City of London Livery Company predominantly through ils
annual pA￿raMMe ol standard, or annual. donations which are reviewed by the Education and Charities
Committee. the Wardens and the Court at the stsrt of each year. The Company believes In the importance
of maintaining public tru5¢ through transparency and accounlability. encourages communication with its
stakeholders and publtcises Its activities via Its website. bespoke reports. publications and social media
(Linkedlnl. Communication is regularty reviewed. and new initiatives adopted where applicable
Education and Charities Committee
The ftjll Education and Charities Committee met on three occasions during the year in June and Odober
2024 and F8bruary 2025. aAhough the Sub committees were more active In terms of consultation and
decision making. primarily via email and phone. The Mentorship sub-¢omTnittee ¢onduGted m05t ol 115
businéss virtually to assess applications and paiT univer51ty students with suitable Shipwright mentor5.
The Education and Charities Committee members who served during the year were..
Grou
1 8illmeir and Univefsi
Sub4ornmittee Chair (Court Assistant)
Mr C B Adams
Llverymen
Mr I Calogeras
Mr G M T Eddings
Miss L T Willson OBE
Grou
2-TheKin
s Sifver Medal and Outside Activities Bursaries
Committe• Chalrman & Sub4ommiit•• Chairman {Court Assistant)
Ms C M Mulvihill
Liverymen
Mr N S Cooper KC
M5 K Khosla
Admiral Sir Philip Jones GCB DL
Grou
3-Re5
onsive Donations
Committee Deputy Chaimian and Sub-committè• Chalmian - (Court Assistantl
Mr T P Theochari
Liverymen
Lieuienant Commander D J Boswell RN
Rear Admiral J R H Clink C8E
S*r William Reardon Smith Bt

THE SHIPWRIGHTS COMPANY CHARITABLE FUND
(INCORPORATING THE SIR JOHN FISHER FUND & EDUCATIONAL TRUST FUNDI
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 APRIL 2025
{CONTINUEDI
Education and Chartties Committee (Continued)
Grou
4 - Mentorshi
Sub£ommittee Chairnian (Liverymanl
Mr J E Wilkes
Court A$si$tant
Mrs C J Kirk
Liveryman
MrPJPary
Member
Lieutenant Colonel R C Cole-mackintosh
ntsce Lectures Workin
Grou
Sub£ommitt¢e Chairman (Court Assistant)
Mr M J Dernck
Liverymen
Mr S G Crawford
Mr K R Longman
Ex-officio Members
Prime Warden
MrSCWBeale
Immediate Past Prime Warden
MrNJAShaw
Chaimian of th• Flnan¢e Comrnittee
Mr A S Marsh
Honorary Trèasuror (Court Assistsntl
MrRHJdeCMoore
Thè Honorary Chaplaln
Rev Canon W Chrislianson
Clerk I CEO
Lieutenant Colonel R C Cole-mackintosh
Grant4laklng Policy and Activities
The t8rn1s of reference and thè polw of the Commrttee. which were onginally laid down by the Court in
2002. were confirmed at the first meebng ol the year in June 2024 and continued under ￿vIeW throughout
the year with the emphasis on woviding support to young and disadvantsged PeO￿e. Donations were
directed towards.
Maritime proiecls Of activities including education and apprenkn.ce training
The City of London
Church Work

THE SHIPWRIGHTS COMPANY CHARITABLE FUND
IINCORPORATING THE SIR JOHN FISHER FUNO & EDUCATIONAL TRUST FUNDI
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 APRIL 2025
ICONTINUEDI
Donations Received and Madè
Donations continue to play a vrtal role in enabling the Company's charitable and educational activities to
onlinue and details of the charitable donations and bursaries made in the year are given in the notes lo
the financial statements. During the financial year a total of £571.624 lincluding some donations that
qualify for Gift Aid plus an estimate ol the GiftAid that Is reclaimable on those amount51 was donated lo
the Charitable Fund. The fund the sum of £40.000 Irom the EBM Charitable Trust to supplement
Billmeir awards and, if necessary. undèrwrite the salary of the shipwright onboard CUTTY SARK. The
Charity received grants to support Its chantable endeavours of £3,000 from the Inchcape Foundation,
£1,500 from J and J Denholm Ltd, arKJ £SOO from the Castsways Club.
The Charity re￿iVed a very generous legacy of £200.000 from the estste ol the late Reverend Ronald
Philip Casebow made in memory of his late wile Elhel Annie Casebow (nee Everardl to be known as the
Ethel Everard Bursaries After consultation with the family of Reverend Ronald Phillip Casebow and Ethel
Annie Casebow, the Court agreed to use the ￿gacY lo support the purchase of a fifth yacht lor the Tall
Ships Youth Trust ITSYTI in a c(>venture with The Gosling Foundatiot) who donated a further £200,000.
TSYT Is the UK'S oldest and largest youth development sail training charity supporting youth from all
walks of life. The additional yacht will Increase TSYT outpijt by oroviding an additional 400 young people
with the opportunity lo develop by undertaking offshore sailing voyages through sail-training bursaries
th8t would not otherwise have been available.
Rèview of Activities. Achrevement5 and Dgvglopment
Standard IAnnuall Donations
The Shipwrights, poli￿ on standard or annual standar(I donations is lo help young people and to support
youth organisalions, while fostering the Company's relationship and influence with the maritime sector
and the City of London. The recommèndations of the 2013 Education and Charibes Cofflmittee review of
regular donations continue to be implernented as It provides an effertive manner ol allocating grants. and
the list of recipients and amounts remains largely unchanged year by yèar Expènditure on standard
donations totalled £35.000 in the year and included disbursements to George Grèen's S¢hool. the London
Nautical School. national, regional and local elements of the Sea Cadets. the Sea Scouts, the Inslilule ol
Chartered Shipbfokers HMS Queen Elizabeth. St Paul's Cathedcal, various otheT City of London charities
and lo the Institute ol Chartered Shipbrokers for the Annual'Shipwright5' Pri2e'.
Outdoor Activities Bursaries
The Shipwrights. Company makes annual donalions to established chanties that provide Ihe opportunity
for young people lo benefit from the experience an¢J challenges of offshore sail training and £40.000 was
allocated for the purpose In the year. Donations were made to the Tall Ships Youth Trust1£22.0001. Ocean
Youth Tfust Iscotlandl 1£5,5001 UKSA 1£10.0001 and Oxford Sailability 1£2.5001 for the purposè of
enabling disadvantage(J and l or d5sabled young people lo benefrt from the challenge and improve their
sell-eonfidence. Each organisalion provided progress and expenditure reports.
Responsive Donation$
Thè Company mad8 charitsble donations totslling £36.208 to charities and organisations in line with its
policy on Responsive Donations During the year 24 applications were considered by the Committee of
which 20 were supported with grants ol between £300 and £3,510 Recipients included Adventure Under
Sail I Seas Your Future Fulham Reach Boat Club. Ihe Boleh Trust. London Museum. Women in Boat
Building and London Search and Rescue.

THE SHIPWRIGHTS COAIPANY CHARITABLE FUND
IINCORPORATING THE SIR JOHN FISHER FUND & EDUCATIONAL TRUST FUNDI
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 APRIL 2025
ICONTINUEDI
Review ol Afjtivilies, AGhievements and Developments IGontinuedl
The Klng'$ Sllver Medal Competition
The King's Sifver Medal IKSM) Competitson was instituted by HM ￿'ng George Vl in 1944 to identify the
shipyard apprentice of the year and the Shipwrights. Company was charged ￿th running this challenging
competition annually. The KSM Competrtion is intense for the compeb'tors but Is designed and run lo
ensure that every participant is given the maximum opportunty to leam and develop from the experience.
Following thorough consideration ofthe applications 18 suitsble participants attended the intensive week-
long Phipps Leadership and Development Course at Hawkhirst Scout Cenlre on Kielder Water which was
or5ce again delivered by the Learning Skills Consultancy Ltd I Infinile Perspedives who provided detailed
Coufse reports on all attendees. Based on Ihe reports the KSM sub-committee seÈGted the top eight
participants lo attend final interviews in London In November 2024 after which the prize winners were
confirrned. The four individual prize winners and rèpresèntatives of the wnners of the company prize were
lomially presgnled with Ihwr medals by the Prime Warden al a CcHJrt Meeting on 16 January 2025. The
KSM 2024 rtrsults were".
The King's Silver Medal & £2.000 Ms Aice Stè8n. of BAE Systems Submarines. Barrow-in-
Furness.
The ShiF)wryJhls' Bronze Medal & £1.500 - Mr Hugo Keeble of A&P, Falmouth.
The Derèk Kim￿1 Medal & £1.01)O- Mr K8bwe'Ni¢k' Kapapa of BAE Systems Subm8rbne5. Barrow-
inpFurness.
Prize for Most Notsb￿ Endeavour at ￿eld￿ & £750 - Ms Lily Abraham of Babcock Inlemational,
Devonport. Plymouth.
Company Priz•. BAE Systems Submarine5 in Barrow-in-Furness wasjudged th8 company thal had
provided the highest degree of training and support to its Apprentices during the various stages of
the King's Silver Medal Competitson in 2024.
The total cost of the KSM. including the awards and administrath?n costs, was E41.919.87 or £2.328 per
compelilor118 participantsl in 2024 In previous years expenditu￿ has b￿n as follows." 2023". £40,927
or £2.046 per competitor120 parti¢ipanlsl 2022". £2.1501151. 2021. £1.6821181, 2019." £1.6341171. 2018..
£1,6201181. 2017_ £1.6951181: 2016.. £1.2391241 and 2015.. £1,5051181.
The Billmeir Award SchÈme
The Billrneir Awa¥d scheme provides grants lo support individuals undergoing technical education and
training and is routinely. though not exclusivety. awarded for the purchase of tools or to assist with COLJrse
or tuition fees. The significaTrt uplrft resutting Irom the grant of £40,000 from the EBM Charitable Trust
enabled a lolal of £73.895 to be awarded in Billmeir grants lo 41 successful applicants which were pald
to training Colleges or employers. not directly to Individuals. This included the 9rant of £5,000 whi¢h was
made lo the Clyde Maritime Trust to supporl 2 apprent￿e$ employed on the SV GLENLEE in Glasgi)w.
One award of £750 was outslanding al the year end and ha5 Sin￿ been paid.

THE SHIPWRIGHTS COMPANY CHARITABLE FUND
IINCORPORATING THE SIR JOHN FISHER FUND & EDUCATIONAL TRUST FUND}
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 APRIL 2025
(CONTINUED)
Raview of A¢tivrties. A¢hievtments and Developments {Continuedl
University Bursaries
The Cornpany donated £18.000 to support nine university students studying Naval Architècture and
Marine Engineenng.. three at Newcasue University ano three al t)olh the Universities ol Soulhamplon and
Slrath¢lyde. Each Individual bursary was £2.000 in accordance with ihe Gift Agreements made betwèen
the Company and each respective University. Siudents are selected for Shipwrights, Bursaries based on
a mixture ol need and academic ability following their first-yeaf èxams and the bursaries are paid In their
second. third and fourth years. In adttitson. pnzes of£1,000 were awarded to the studenl at each university
who scored top of their penultimate yearfs exams.
The Danholm Bursary
In accordance wrth the grft agreèment made befv4een the Chaimian of J&J Denholm Limited and the
Shipwrights. Company three Dènholm Bursanes. each of £2.000 were awarded to Marine Engineering
students at the University of Strathclyde. Denholm Bursaries are awarded lo studen15 foilheir first. second
and third years of sluey and are specifically d*r¢cted to assist students who would not otherwise be able
attend. Total expenditure on Denholm Bursaries was £6.000 in year.
The Shipwrights. Apprentice Lectures
The Annijal Shipwrights Apprentice Lectu￿$ We￿ held on 15 October 2024 at the MAST Theatre in
Southampton and over 300 app￿ntICeS students and employers attended. some hav1ng travelled over
200 miles to attend. The lotsl cost ol Ihe event. whtch was partially sw)nsored by Pendennis Shipyard,
was £11,079.28.
Investment Policy
The Shipwrights Company's Investment strategy is contained in its Invèstment Policy Statément, which
is reviewed annually by the Finance Committee. the Wardens and approved by the Court. The Company's
financial objective is for its charitable snvestments to mainlain their value in real terms and produce a
minimum return after inflation. and net of fees, of 3.5°/.. The Investment Managers are required to abide
by the strategy. The Company employed Iwo fund managers throughout the year.. Cazenove Charities,
who were appK)in¢ed in May 2018. and Sarasin & Partners. who were appointed 4n October 2019.
They must at all times be in a position to maintain th8 fabric of the fund by covering administration
and support costs.
They wish to provsde some protection against a need to scale down distributions in the event of a
fall in investment incoffle.
They may wish to respond to special applications for grants or donations which may arise from lime
to b"me. but which could not be met from current Investment in¢ome.
Overall. it remains the policy of Ihe Tntrstees to expend the income after taking into account annual
uclualions and special c4r¢umstances. The posrtion Is kept LÈnder dose review by the Trustees when
setting budgets and formulating policy.

THE SHIPWRIGHTS COMPANY CHARITABLE FUND
(INCORPORATING THE SIR JOHN FISHER FUND & EDUCATIONAL TRUST FUND)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 APRIL 2025
ICONTINUEDI
Risk Managem•nt
The TfUSt8es have examined the major Strategic. business. 3nd operational risks which the Fund faces,
and have assessed their likelihood and potential impact. They confim that an effective systern of control
to mitigate risk has been in place throughout the year and the complete Schedule ol Risk is fomially
rfrview8d regularly by the Risk Management Cofflmittee and are approve(I by the July Court annually
Reserves Policy
In fomiulating their policy the Trustees tske into accouni a number of factors, namely-.
They must at all times be in a position to maintain the fabric of Ihe fund by covering adminislralion
and support costs.
They wish lo provide some proteth.on against a need to scale down distributions in the event of
fall in investment income.
They may wish to resrx)nd to special applicat￿nS for grants or donations which may arise from
lime lo lime, bul which could not be met Irom current investment income.
Overall, it remains the policy of Ihe Tfustees to expend the income after laking into accounl annual
fluctuations and special circumstances. The posrt￿n is kept under cbose review by the Trustees when
setting budgets and formulating policy.
Trustees Training
A letter is sent to all Trustees annually in which they are encouraged to familiarise themselves with the
Charity Commission Websitè. in particular thè advice lo Tmstees. and undertake applicable training when
specrfic needs a￿ identified.
R•cruitm•nt and Appointment of Trustees
The recruilrnenl and appointment of Trustees to the Court is d¥cided by a vole amongst the existing
Trustee5. New Trustees are given guidance on Iheir roles and responsibilities and referred lo suitable
reference material received from the Chanty Comfflission. they are also required to confirm that they
understand the role5 and respon51bilities ol a Trustee and Court Assistant of the Company and that
they agree to be bound by the Acts. Ordinances and Constttutions of the Company and to devote the
necessary time and effort to their stewardship ol il.
Trustees, responsibilities in relation to the financial statements
The Trustees are responsible for preparing the Trustees. Annual Report and the financial statements
in accordance with applicabl& law and United Kingdom Accounting Standards Iuniled Kingdom
Generally Accepte¢J Accounting Praclicel. In preparing these finaneial statements, the trustees are
required to..
select suitable accounting policies. and then apply them consistentty.,
observe the methods and principles in the Charities SORP.,
make judgements and estimates ihal are reasonable an¢J prudent.. and
prepare the financial statements on the going COn￿M basis unless it is inappropriate lo presume
that the chantable company will continue in business.
10

THE SHIPWRIGHTS COMPANY CHARITABLE FUND
IINCORPORATING THE SIR JOHN FISHER FUND & EDUCATIONAL TRUST FUNDI
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 APRIL 2025
ICONTINUEDI
Trustèes, responsibilities in rolation to the financial statements IcontinuÈdl
The Trustees are responsib￿ for keeping accountsng records which disclosè with reasonable accuracy at
any lirne the financial position ol the charity. and enable them to ensure that the financial statements
comply with the Charities Act 2011 They are also restx)nsible for safèguarding the assets of the Fund
and hence for taking reasonable steps for the prevention and delection ol fraud and other irregularities.
In $0 far as Ihe trustees are aware".
there is no relevant audrt information of which Ihe chariiable company's auditor is unaware.. and
tha trustèes have taken all steps that they ought to have taken to make themselves aware of any
re￿vant audit information and to establish that the auditoi is aware of that Information.
Approved by the Trustees and signed on Iheir behalf by.
Lieutenant Colonel R C Cole4lackinlo$h
Clerk I CEO
miral
irGe
rge Za
Ilas GC8 DSC DL
arden
Date..
October 2025

THE SHIPWRIGHTS COMPANY CHARITA8LE FUND
(INCORPORATING THE SIR JOHN FISHER FUND & EDUCATIONAL TRUST FUNDI
INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF
THE SHIPWRIGHTS COMPANY CHARITABLE FUND
We have audited the financial statements of The Shipwrights Company Charitable Fund Ilncorporating The Sir
John Fisher Fund & Educational Trust Fund) Ilhe 'charity'l for the year ended 30 April 2025. which comprise
the Statement of Financial Act￿vIties. the Bala￿e Sheet, Statement ol Cash Flow5 and the related notes.
including a summary of significant accounting policies. The financial reporting framework that has been applied
in their p￿paratiOn is applicable law and Uniled Kingdom Accounting Slandards, including FRS 102 The
Financial Reptsrtsng Standard applicatAe in the UK an¢J Republic of Ireland (United Kingdom Generally AGGepte(I
Accounting Practice.
In our opinion the financial ststemenls..
give a true and fair view of Ihe stsle of the thanws affairs as at 30 Apnl 2025 and of its incoming
resour￿$ and application of resources. induding its income and expenditure, for the year then ended.,
have been properly prepared in accordance with Uniled Kingdom Generally Accepted Accounting
Practice;
have b￿n prèpared in accordance with the requirements of the Charities Act 2011.
Ba515 for opinion
Wè eonductèd ouraudil in accordancèwith Intemational Standards on Audiling IUKI IISAs IUKII and applicable
law. Our responsibil￿e$ under those standards are further descnbed In the auditorfs ￿spOnSIbl1111eS for the
8udit of the financial statements section of our rew)rt. We are Independent of the charity In 8¢cord8n¢e with the
ethical requirements that a￿ re￿want to our audit of the financial statements In the UK, including the FRC'S
Ethical Standard. and we have ILtlfilled our other ethical responsibilities in accof¢Jance vAth thèsè rèquirements.
We believe thal the audit evidence we have obtained 15 sufficjent and appropriate to provide a basis for our
ownion.
Conclusions r•lating to going concern
In auditing the financial statements. we have concluded that the tTUStees' us8 ol the going concem basis ol
accounting in the prepaTation of the financial staiements is approwate.
Based on the work we have perfomied, we have not identified any material uncertainties ￿lating to events or
conditions that, individually or collethvely. may cast significant doubt on Ihe £tharity's a￿lIty to continue as a
go¢ng concem for a peri¢)d ol at laast tw*￿è months from when the financial staternents are authorised for
issue. Our respon51bilities and the responsibilits.es of the tnjstees wilh respect io going concem are described
in the relevant sections of this rewrt.
Othèr information
The other inlormation comprises the informa(ion induded in the annual report, other than the financial
statements and our auditor's report thereon. The truslees are responsible for the other Infomiation. Our opinion
on the financial slalemenls does not covef the other infomalion and, except lo the extent otherwise explicidy
ststed in our ￿pOrt. we do not èxprèss any lom) of assurance conclusion thèr80n.
In connection with our audit of the financial statements. Our ￿SponsIbl11ty is to read the other infom)ation and.
in doing so. consider whelher the other information is materially inconsistent with the financial slalements or
our knowledge obtained in the audit or othemse appears to be malenally misstated. If we identify such material
inconsisténcies or apparent malenal misstatements. we are required to detemiine whether there Is a material
misstatement in the financial ststements or a rnaterial mi5Statefflent of the other infomiation. If, based on the
wort we have performed, we conclude that thefe is a material Miss￿leMent ol this othef information. we are
rèquired lo report that faot.
We have nothin9 to report in this regard.
12

THE SHIPWRIGHTS COMPANY CHARITABLE FUND
(INCORPORATING THE SIR JOHN FISHER FUND & EDUCATIONAL TRUST FUPIDI
INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF
THE SHIPWRIGHTS COMPANY CHARITABLE FUND
Matters on whlch we are required to report by exceptlon
In the light of the knowledge and undeTSlanding of the chaflty arHJ its environment obtained in the course
of the audit. we have not Identrfied material misststemenls In the trustees. report.
We have nothing to ￿port in ￿SpeCt of the following matters in ￿latIon lo which the Charities IAccounts
and Reports) regulations 2008 requires us to report to you if. in our opinion".
sufficient accounting records have not been k8Pt. or returns adequate for our audit hav8 not been
receivèd from branches not V1Slted by us.. or
the financial statements are not In agreement with the accounting records and returns.. or
certain disclosures of trustèès. ￿muneratIon specified by law are not made", or
we have not recetved all the information and explanations we require for our audit.. or
the trustees were not entitled to prepare the financial statement5 in accordance with the small
cornpanies regime and lake advantage of the small companies, exemptions in preparing the
directors, report and from the ￿qUIreMent to prepare a strategic report
Responsibilities of trusteès
As explained more lully In the irustees. Tesponsibilities statement. the trustees are responsible for the
preparation of the financial statements and lor being satisfied that they give a true and fair view, and for
such Internal control as the irustees determine is necessary to ènabk the preparation of financial
sl8lemenls that are free from material misstatement. whether due to fraud or error.
In preparing the finanual statements, the trustees are rosponsible for assessing the charity's ability to
continue as a going concem. disclosing, as applicablè, matters related to going concern and using the
going concern basis of accounting unless the trustees either Intend to liquidate the charity or lo cease
operations, or have no Tealistic 8ltÈrnative but to do so.
Auditorfs responsibilitiès for th¢ audrt of ihe financial statements
Our objoctives are to obtain raasonablè assurance about whether the financial statements 8s a wholè arè
free from material rnisstatement, vthethef due to fraud or erTor. and to Issue an auditor's report that
includes our opinion. Reasonable assurance is a h*gh level of assurance. bijt is not a gijarantee that an
audit conducted in accordance with ISAS IUKI wi51 always detect a material misstatement when it exists.
Misslalemenls can arise from fraud or error and are conS￿ered matenal 51. Ino*ividually or In the aggregate.
they could reasonably be expected to influence the economic decisions of users taken on the basis of
these financial slalements.
Irregularities, including fraud. are instances of ncM)rycompllan￿ with laws and regulations. We design
procedures in line with our reSponS￿bIlItIes. outlined al￿ve. to delecl material misstatements in iespect ol
rregulaThlie5, including fraud. The extent to which our procedures are ¢apable of delecling Irregularities,
including fraud Is detailed below..
Capability of the audit in detecting irregularitles, Including fraud
The objectives of our audit are to identify and assess the risks of material misstatement of the financial
statements due lo fraud or errDr.' lo obtain sufficient appropriate audrt evidence regaréing the assessed
risks of material misstatemeni due to Iraud or èrror. and to respond appfopriately to those risks.
Based on our understsnding of the charity and Industry. and through discussion wth the trustees and
othÈr managèrs las required by auditsng 5tandard51. we id8ntrfied Ihat Ihe principal risks of non-
compliance with laws and regulations ￿lately lo heanh and safety. anti-bnbery and employment law.
13

THE SHIPWRIGHTS COMPANY CHARITABLE FUND
(INCORPORATING THE SIR JOHN FISHER FUND & EDUCATIONAL TRUST FUNDI
INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF
THE SHIPWRIGHTS COMPANY CHARITABLE FUND
We considered the extent lo whith non-compliance might have a material effect on the financial
slalemenls. We also considered those laws and règulations that have a direct Impact on the preparation
of the financi81 statements such as the Charities Acl, Charities SORP IFRS 1021. taxation and pension
legislation. We communicated identified laws and regulatKJns throughout our team and remained alter to
any indications of non-compliance throughout the audit. We evaluated managèment's incentives and
opportunitie5 for fraudulent manipulation of the financial ststements Iin¢luding the risk of overnde of
eontrolsl and dètèmiined that the principal nsks were related lo posting inappropriate Ioufnal entries to
increase revenue or reduce expenditure and management bias in accounting estimates. Audit procedures
performed by the engagtrrnent team in¢luded".
Discussions with Trustee'5 and assessmènt of known or suspectsd instsnces of non-compliance
W11h laws and regulations lincluding heatth and saletyl and fraud.. and
Identrfying and assessing the design effecbveness of controls that management has in place to
prevent and detect fraud,. and
Performing analyt1cal proceilures to identtfy any unusual or unexpected relationships. including
lated party transactions that may Indicate risks of material misstatements to fraud. and
Id8ntifying and tèsting journal entries, in particular any manual entries made atg year-ènd for
financial statement pr8paration.
There are inherent limitations in the audit prO￿dureS described above and the further removed non-
compliance with laws and regulations is from the events and transactions reflected in the financial
statemenis, the less likely we wouhl become aware of it. Also, the risk of not detecting a material
misslalemenl due lo fraud is higher than the risk of not tjelecling one resuming from error, as fraud may
involve deliberate concealment by. for example, forgery or Intentional misrepresentations, or through
collusion.
Use of our report
This report Is made solely to the Charity's members. as a body. in a¢cord8nce with section 144 of the
Chanlies Act 2011 and regulations made under section 154 of that Act. OUT audit work has been
undertaken so that we might state to the charivs members those matters we are required to state to them
in an auditorfs report and for no other purpose. To the fullest extent permitted by law. we do not accept or
assume responsibility to ¥yone other than the chanty and the charity's members as a body, for our audit
work, lor this rgPQrt, or fur the Opin￿n$ we have fomied.
Stephen Jones (Senior Auditor)
For and on behaw of
R E Jones & Co - Chartered Accountsnts and Sialutory Auditor
132 Burnt Ash Road
London SE12 8PU
Dale. IL4
2025
14

THE SHIPWRIGHTS COMPANY CHARITABLE FUND
(INCORPORATING THE SIR JOHN FISHER FUND & EDUCATIONAL TRUST FUNDI
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30 APRIL 2025
Restricted Unrestricted
Fund
Fund
2025
2025
Total
Funds
2025
Total
Funds
2024
Note
Incoming and Endowmènts
Donations and Legacies
Incoffle from investments
2￿,000
35 839
411.624
203,724
611.624
239.563
194.133
236.931
Total Income and Endowmerlts
235.839
615,348
851.187
431.064
Expenditure
Expenditure on Raising Funds
Portfolio managemenl fees
530
3.013
3,543
3,512
Expenditure on Charitable Activltl•s
General charitable donations
Outdoor activity bursaries
Govemance costs
4&5
347.815
324.372
40,000
122.115
672.187
40.000
149 325
219.191
40.000
134,719
27.210
375.025
486.487
861,512
393,910
Totsl Expenditure
375.555
489.500
865.055
397,422
Net IExpenditurelllncome and net
Movement in funds before Gains
and Losses on Investmènts
1139,7161
125,848
113,8681
33.642
Net GainsllLosses1 on investments
I1.(￿5
16,0511
17.1161
296.241
Net Movements in Funds
1140.7811
119,797
120.9841
329.883
Funds Biought Forward at
1 May 2024
157.678
6,388.431
6.546.109
6.216.226
Funds Carried Forward at
30 April 2025
16.897
6.508.228
6.525.125
6.546.109
15

THE SHIPWRIGHTS COMPANY CHARITABLE FUND
(INCORPORATING THE SIR JOHN FISHER FUND & EDUCATIONAL TRUST FUNDI
BALANCE SHEET
AT 30 APRIL 2025
Note
2025
2024
In¥•stm•nts at Market Value
Stocks and shares
Portfolio cash
6.510,663
11,082
6,549.600
26.583
6.521,745
6,576,183
Current Assets
Accrued Income
Stock
Cash at bank-
Current account
Dèposit account
45.453
238
22.500
238
1,054
34.438
19.024
13.489
81.183
55,251
Creditors- amounts falling
dug wilhin one year
Creditors & other accnjals
Deferred Income
Shipwrights Company General
Fund
10
19.845
1.910
13.620
56,048
71,705
77.803
85.325
Net Current A$setsllLiabiliti8s}
3.380
130,0741
Total Funds
6.525.125
6.546,109
Restricted Funds
16.897
157,678
Unrestricted Funds
6.508.228
6,388,431
Total Funds
6.525,125
6,546,109
Lleut•nant Colonel R C Cole4lacklnto$h
Clerk I CEO
Admlral Slr Geor
ballas GCB DSC DL
Prime Warden
Date".
IG
October 2025
16

THE SHIPWRIGHTS COMPANY CHARITABLE FUND
(INCORPORATING THE SIR JOHN FISHER FUND & EDUCATIONAL TRUST FUNDI
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 APRIL 2025
2025
2024
Nèt Cash used in 0￿rating Actlvities
1283,9061
1155.9751
Cash Flows from invèsting activities
Interest and dividends
Tax reclaims
Payments to acquire investments
Funds withdrawn from investments
239.563
236,871
60
1111.6871
122.41 $1
54.237
Net cash provided by investing activities
271.385
125.244
Change in cash and cash •quivalènts in Year
112.5211
130.7311
Cash and cash equivalents brought forward
59.096
89.827
Cash and cash equivalents earrlèd forward
46.575
59.096
17

THE SHIPWRIGHTS COMPANY CHARITABLE FUND
IINCORPORATING THE SIR JOHN FISHER FUND & EDUCATIONAL TRUST FUNDI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Accounting Polici•s
la} Basis of accountin
The financial stalements have be8n prepared under the hi5toric81 cost convention with items
recognised at cost or transaction value unless otherwise stated in th8 relev8nt notelsl to these
financial statements. The financial statemen15 have been prepared in accordance with the
Statement of Recommended Practice.. Accounting and Roporting by Chanties preparin9 their
accounts in accordance wlh the Fsnancial Reporting Standard applicable In the UK and Republic
of Ireland IFRS 1021 leffeclive 1 Jantjary 20151 (Charities SORP IFRS 10211. the Financial
Reporting Standard applicable in the United kn'ngdom and Reput&lic of I￿land IFRS 1021 and the
Charities Act 2011.
The Charilable Fund constrtutes a pU￿1C benefit entity as defined by FRS 102.
The TTUSt8es consider that there ar* materi81 uncertainties the Fund's ability to continue
as a wng wncerrt. There are no signifi&3nt areas of judgernent or key assumpts.ons that affect
items in the financial statements other Ihan Ihose included within the accounting policies
described betow. With respect to the next reporting peno¢l for the year ending 30 April 2025. the
most significant areas of uncertainty that affect the carrying value of assetg held by the Fund are
the level of investment retum and the performance of the investment Markets (see the Inve5trnenl
policy and pèrfomiancè and nsk management sèctsons of the Rewt of the Cornmittee of
Management for more infomiationl.
Ibl Investment income
Income from investments is shown gross of any tax (Thlts and is accounted for when ￿Ceived.
Icl
Bank dè
osit int8rÈst
Interest on bank deposrts is accounted for c47 an accruals basis.
Idl Donations and le
acies
Amounts a￿ recognised as income as and vthen ihey are received.
lel Tax recoverable
Tax credits and income tax recoverable are accounted for on the same ba515 a5 the income to
which they relate.
If)
Marketable investments
Investments are staled at a middle-market value. Thè Statement of Financial Activities
includes Separately those realise¢ g8ins 8ntt losses arising in thè year. and the rnovemenl
on the balance of unrealised gains and losses.
Igl
endrture on Raisin
Funds PcKtrolio mana
emenl fees
Portfolio management fees are met from portfolio fvnds.
18

THE bVORSHIPFUL COMPANY OF SHIPWRIGHTS
(INCORPORATING THE SIR JOHN FISHER FUND & EDUCATIONAL TRUST FUNDI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Accounting Policies (Continued)
Ihl
ersditure on Charitable aclivities
Expenditure is rec(¥Jnise(l on an accruals basis as a liability is incurred. Expenditure
includes any VAT which cannot be fully recoVe￿d, and is reported as part of the gxpgndilufe
to which It relates.
All costs are allocated between Ihe expendilure cat•goriès on a basis designgd to reflect
the use of the resource. Costs relating to a particular activity are allocated directly.. Dthers
are apportioned on a basis constsièftt with the use of the resource.
Govemance costs
Governance costs include those costs associated with meeting the conslilulional
and statutory reqL*irements of the charity and include the fees and costs linked to
the strategic rnanagemenl of the charity.
Donations and bursaries
Charitable donations and bursaries are charged against income in the year in which
committed.
Investment Income
Restricted
202S
un￿StrICted
2025
Total
2025
Total
2024
Listed investmenl dividend
income
Income from cash hekj
Interest on tax reclaims
35.177
662
199.963
3,761
235.140
4.423
232,651
4.220
60
35.839
203.724
239.563
236.931
Donations and Legacies
Restricted Unreslri¢ted
2025
2025
Total
2025
Total
2024
Special donalions
Planned giving
E.B M. Charitable Trusl
Legaeies
200,000
44.704
126.920
40.000
200.000
244.704
126.920
40.000
200.000
37,860
116.217
40.000
21YJ.000
411.624
611.624
194.133
19

THE SHIPWRIGHTS COMPANY CHARITABLE FUND
{INCORPORATING THe SIR JOHN FISHER FUND & EDUCATIONAL TRUST FUNDI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Genèral Charitable Donations
2025
2024
Charitable Donations - Standard
Annual National Service lor Séafarers
City of London Sea Cadets Corps
Clergy Support Trust
Geor9e Green's School
Guildhall Library
HMS Queen El￿abeth
Institute of Chartered Shipbrokers
London Area Sea Cadets linc. pocket moneyl
Lord Mayor's Appeal
London Nautical School
Manne Society & Sea Cadets
Merchant Nawy
Sea Scouts
Sherrff5' and Re¢ord8r's Fund
St Paul's Cathedral
Unrted Guilds, SeNice
500
3,000
200
3,250
300
2,000
2,000
1,200
1.000
3,250
13,000
100
4,000
500
500
200
soo
3.000
200
4.250
300
2,000
2.000
1,200
1.000
4.250
13.000
100
4.000
500
200
35,000
37,000
2025
2024
Charitablè Donations - Rosponsiv•
Aberdeen Line 200 Tall Ships
Adventures Offshore
Advent{j￿ Under Sail
Association of Sail Training
Children's Sailing Trust
Cirdan Sailing Trust
Cove Sailing Club
Douglas Bader Foundation
Excelsior Trust
Fellowship Afloat Charitable Trust
Frensham Pond Sailability
Fulham Reach Boat Club
Livery Food Initiative
London Museum
London Search & Rescue
MACS
Medway Watef5POrts Trust
Mersey Rowing Club
Sir Thomas Lipton Foundation
SPILL Think Tank
Stour Blue Water Pass Trusl
The Boleh Trust
The Ethel Trust
1.000
2.000
3.510
2,000
2,160
2,000
2,640
2,000
1,000
1.500
2.000
5.000
2,000
2,000
1.080
2.000
3,250
2.000
2,060
1,500
1.000
1,400
1,000
2,000
1.620
2,000
Carried forward
26.920
24.800
20

THE SHIPWRIGHTS COMPANY CHARITABLE FUND
IINCORPORATING THE SIR JOHN FISHER FUND & EDUCATIONAL TRUST FUNDI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
2025
2024
Charltable Donations - Responsive IContinu•dl
8roughl forward
26.920
24,800
The Sea Rangèr Association
Turn to Starboard
Welwheels
Women In Boaibuilding
Youth Adventure Trust
Other- below £1,OCQ111
3,000
2.000
3.500
1.280
2.208
300
2,200
36,208
30,000
2025
2024
Local Prol•cts
ABF The Soldiers Charity
Christs Hospital
National Maritime Museum- curry SARK shipwright
FiNLI
SSAFA The Amied Forces Charity
Tall Ships Youth Trust
Other- below £1.0(Ki191
1.100
2.500
32.750
2.785
2,000
200,000
2,050
32.750
1.643
242,085
35.493
Shipwright Apprentice Lectures
11.079
5.521
Total General Charitable Donations
324.372
108,014
Restrictèd Grant$ and Donations
2025
2024
King's Silvèr Medal Awards
Infinite Perspective Limited (Course Feel
King's Silver Medal Winner
The Shipwrights Bronze Medal Winner
De￿k Kimber Medal Winner
Most Notable Endèavour
Other
33 498
2,000
1.500
1.000
750
3.172
31.656
2.000
1.500
1.000
750
4.021
41,920
40.927
21

THE SHIPWRIGHTS COMPANY CHARITABLE FUND
(INCORPORATING THE SIR JOHN FISHER FUND & EDUCATIONAL TRUST FUNDI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Restricted Grants and Donations {CiJntinuedl
202S
2024
Billmeir Awards
Bournemouth & POO￿ College
Clydè Maritimè Projèct. SV GLENLEE
Cockwèlls
Coleg Lkndrillo
Falmouth Marine School
Intemakn'onal Boat Building Training College, LO￿St0ft
Lyme Regi5 Boat Building Academy
Marine Skills Centre. Southampton
Seff-employed boat builderlrestorer
Stirling & Son Ltd, Ptymouth
The Education Tnjsl l E P Bamjs Lld
750
5,000
5.000
750
2.000
9,750
6.000
1.250
9,000
2,800
15,345
12.500
25.000
7.500
300
1,250
3,450
1,500
3.000
73,895
38,250
2025
2024
Unlversity Grants
University ol Newcasl
University of Southampton
University of Strathclyde
University of Straihclyde- Dènttolm bursaries
University of Strathdyde- Abfam travel bursary
7.000
7.000
7.000
6.000
5,000
7,000
7.000
6,000
5,000
32,000
32,000
2025
2024
Local Projects
Tall Ships Youth Trust
200,000
200,000
Total Restricted Grants and Donatsons
347,815
111,177
Outdoor Actlvlty Bursarles
2025
2024
Jubilee Sailing Trust
Ocean Youth Trust Iscollandl
Oxford s8ilability
Tall Ships Youth Trust
UKSA
5,000
5,000
5,500
2,500
22,000
10.000
20,000
10,000
40,000
40,000

THE SHIPWRIGHTS COMPANY CHARITABLE FUND
(INCORPORATING THE SIR JOHN FISHER FUND & EDUCATIONAL TRUST FUNDI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Governance costs
Restrictèd
202$
Unrestricted
2025
Total
2025
Total
2024
Staff costs and pensions
A¢couniancy - Non Audit
Previous year adjustment
Audit
Irrecoverable VAT
Sundry expenses
19.342
4.978
106.381
9.956
125,723
14,934
114,993
13,800
13.6001
4,333
4,870
323
1.500
1.296
2,591
187
3,887
281
27.210
122.115
149.325
134,719
Costs apportioned between Restricted and UnreslrÈcled Funds based on relevant input.
Analysis of Staff Costs and Remuneration of Key Management Personnel
2025
2024
Salaries and wages
Social security costs
Pension costs
109.119
8.821
7.783
101.647
6.433
6.913
125,723
114.993
The average weekly numberof persons empk)yed by the charity during the year (full lime equivalent
was 312024 - 31 with all employee time involved in providing either support to the govemance of
the charity or support services lo Charitable aclivities.
The Fund considers it5 key management personnel comprise the trusteès. Nonè of thè Truslges
received ernolurnents or a reimbursement of expenses.
No employee has received Temuneralion of more than £60.CN)O in the year.
23

THE SHIPWRIGHTS COMPANY CHARITABLE FUND
IINCORPOPATING THE SIR JOHN FISHER FUND & EDUCATIONAL TRUST FUNOI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Investments
2025
2024
Market value at 1 May
6,549.600
6.141.672
Addrtions
Disposals
Unrealised gainllloss}
Realised gainlllossl
22,415
154.2371
114.3991
7.284
111.687
296,241
Market value at 30 April
6.510.663
6,549,600
Cash
11,082
26,583
Total Market value at 30 April
6,521,745
6.576,183
10. Creditors and A¢¢wals
202S
2024
Accruals
19.845
13,620
19,845
13,620
11. Funds
R•strict•d
Unrestricted
Total
At 1 May 2024
157.678
6.388.431
6,546,109
Nel incoming resources
235,839
615.348
851,187
Net resour￿5 e¥pende(I
Revaluation of investments
{375.5551
11,0651
1489.5001
16.051 }
1865,0551
17,1161
At 30 April 2025
16.897
6,508.228
6.525,125
As al 1 May 2013, the Worshipful Company ol Shipwrights Educational Fund merged with the
Worshipfijl Company ol Shipwrights Charitable Fund. The restricted fund therefore represents the
Educational Fund that conlinues for educational pUr￿SeS.
24

THE SHIPWRIGHTS COMPANY CHARITABLE FUND
(INCORPORATING THE SIR JOHN FISHER FUND & EDUCATIONAL TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDEO 30 APRIL 2025
12
Related Party Transa¢tbons
In the Trustees, opanion. Ihe Worshipful Company's Shipwrights General Fund is relaied by
common control.
During the year. the General Fund reduced its deficrt of inlerfund recharged expenses with the
Charitable Fund by £15.657 12024.. increased by £33.7471.
At the year end, the balance payable to Worshipful Company's Shipwrights Gener81 Fund totalletj
£56.04812024.' £71.7051
13. Reconciliation of Net Movement in Funds to Net Cash Flow from Operating Activities
2025
2024
Nel movement in funds
Deduct Investment Income shown in investment acbvities
IGainsliLosses on Investments
IlncreasellDe¢rease In debtors
IDecTeaselllncrease In Credrtors
120.9841
1239.5631
7,116
122,9531
17,5221
329.883
1236.9311
1296.2411
18 891
28,423
1283,9061
1155,9751
25