Charity number- 265579 The Barbers, Company General Charities Trustee's report and financial statements for the year ended 31 August 2024
Contents Page Trustee's Report Independent examinerfs report Statèment of financial activities Balance sheet Notes to the financial statements 9-16
The Barbers, Company General Charities Trustee's Report and Financial Slatements for the year ended 31 August 2024 TRUSTEE'S REpofiT The Barbers, Company General Charities is constituted under a Trust deed dated 23 March 1973 and is a registered charity, number 265579. The Trustee at the date ol this report is The Master, Governors and Commonalty of the Mystery of Barbers of London (commonly called the Barbers, Companvl.. Qb'ective and Activities The principal object of the charity is to provide 8rants and general donations for charitable purposes. It makes gr3nts under the two main headings of.. The advancement of education, with a particular focus on medical education Relief of sufferin6 During 2023124, the charity made awards of £248,45112023.. £255,442). The Trustee continues to have regard to the Charity Commission guidance on public benefit in settin8 Its grant making policies and future plans and is satisfied that the grants that have been made provide public benefit to the cofflmunity. The charity primarily makes grants to instltutions, but a small number of awards are also made to individuals. The majorlty of the charit¢s grants are made to those organisations with which it has a long- standing relationship. Achievements & Performance In 2023124, the charity's main beneficiaries were the following,. King's College London- £90,00012023.. £80,000) The charity has supported students at King's College London since 2008, when it launched an appeal to mark the Barbers, Company's 700, Anniversary in conjunction with ihe Extended Medical Degree Programrne IEMDPI at Guqs, Kind5 and StThom2s' Medical School. This programme encouraged pupils in the inner London boroughs to take up careers in medicine. During 2017118 a new appeal called Outreach 2020 w3s set up to expaid on this work. The 700, Anniversary appeal and the Outreach 2020 appeal were closed in October 2020 and August 2022 respectively. A nèw 2-year agreement, which continued to support the work of the EMDP and the Outreach for Medicine programmes from unrestricted funds, awarded £80,000 in 2022123 and £90,000 in 2023124. The agreement updated some of the modalities of the support, for example providing digital tablets and e-books in lieu of textbooks, reflecting both student wishes and the evolution of COLsrse delivery. Further donation5 of £50,000 have been agreed for 2024125 and 2025126, reslricted to EMDP, Royal College of Surgeons - ES0,00012023- £50,000) For many years, the charityfunded the Barbers, Company Professor of Anatomy at the College. Retirement of the long serving incumbent and an extensive restructuring of the College's approach to learning created an opportunity for the charity to refocus its support. Between 2019120 and 2021122 it granted £50,000 per annum to fund specific aspects of the CDlleEe's investigation into emerging technologies and delivery methocls of training in surgery, This allowed the College to deliver learning to previously unmet educational needs and reach trainees, members and fellows more e35ily. The programme successfully concluded at the end of August 2023 with demonstrable success achieved In 2023124, given the totemic nature of the relationship between the College and the Barber5, Company, the eh3rity provided £50,OtK) to part-fund an eponymous research fellowship at the College, The Dame Clare Marx Barbers, Cornpany Fellowship,. phylli5 Tuckwell H05pice- £50,00012023.. £30,0001 The hospice was fourided by a past Master of the Barbers, Company, Sir Edward Tuckwell, in memory of his wife. Like all hospices, Phyllis Tuckwell receives only limited support from public funds and depends
The Barbers, Company Gener31 Charities Trustee's Report and Financial Statements for the yèar ended 31 August 2024 TRUSTEE'S REPORTcontinued heavily on voluntary don3tions. Palliative and respite care 3re provided at the Hospice, which has 18 beds. a day hospice (the Barbers, Day Care Centrel and an outpatient's department. The Hospice also provides h05pice care to patients in their own homes. In 2023124 and in 2024/25, gr3nts were/will be restricted to funding the hospice's educational activities thèt support the national Er)d-of-Life Care Strategy. BMA Charities IMcNee Awards) - £nil12022.. £30,000) Awards are made to medical students at London medical schools who already have a degree and do not therefore have access to mLJch of the financial support that Is available to those studying medicine 35 8 first degree. The charity provides this support primarily during the Middle three years of the five-year course. The grants are intended to cover the deficit between a Student's annu31 income and their outgoin85. All applicants are interviewed by the charity before awards are made via the 8MA Charities. In 2024, this grant was made by the Barbers, Amalgamated Charity. The 83rbers' Clinical Nursing Scholarship- £20,00012023.. £14,7501 Annual awards are offered to encourage Qualified nurse5 to undertake research projects in connection with their clinical work. These awards were administered by the University of East Anglia. with a member of the Court of the Barbers, Company involved in inteThfiewing shorilisted candidates. School awards and bursaries The charity supports pupils at a numberof Inner London schools throu8h the provision of awards and prizes. ndividual prizes are largely, but not exclusively, targeted to recognise excellence in STEM subjects or leadership pur5Ults that might lead to gucce5sful entry to further education in medical disciplines. During the year prizes were awarded to 13 schools12023'. 12 schools1. The charity also g3vp a bursary of £7,300 to the Guildhall School of Music & Dram312023- £7,300, plus a performance grant of £2(X)l. A grant of £S.000 was made to the Richard CIoLJdesley School for literacy trainin812023.' E5,104 to enable the school to purchase a Reac Write Inc programmel and a grant of £3,00012023'. £3,000) w35 made to the City of London Acadetlly Isouthwarkl for bursaries. Other grants and donations are distributed on a di5cretion3ry basis to 8 variety of causes, particularly those charities associated with the City of London and the surrounding boroughs. The charity has limited resources and donations are therefore targeted to make a re313nd noticeable difference. This means that, as a rule, grants are made to small charities where funds are limited rather than to large national charities. Each request s assessed and 3pproved using agreed guidelines, which emphasise that relief of need is of paramount importance in all such assessments. The charity's guidelines for charitable Eiving are reviewed annually by its Charity Committee and any proposed amendment is submitted to the Court of the Barbers, Company, acting for the Trustee, for approval. Potent131 applicants can check the most recent charity guidance at www.barberscom .or The charity received donations of E161,95512023.. £279,0661, legacies of £25,0(KI12023.. £nill and investment income of £56,47012023.. E52,0251. The donations figure included a don3tion into unrestricted funds of listed investments with a market value of £53,875 from the Barbers, Company12023'. £173,218, £72,589 into unrestricted funds and £100,629 into endowment funds). It expended £248,45112023: £255,442) in charitable don3tion5 and grants. Financial Review Investment Review The charitys Investment portfolio is managed by Quilter Cheviot. 0rIng 2012113, the Trustee agreed a total return approach with its investment managers, The Trustee regards 3% of the base v31ue of investments as being an appropriate figure to budget For spending out of unrestricted funds. This base value is the value of
The Barbers, Company Gener31 Charitie5 Trustee's Report and Financi31 Statements for the year ended 31 August 2024 TRUSTEE'S REPORT continued investments basecs on the average of the twelve preceding quarters. If in any one year income is below the 3% level, funds may be transferred from the ExpendabSe Endowment Fund to make up this shortfall. At 31 Au8USt 2024, the market value of the investments was £1,904,89112023= £1,755,255). At the year-end, the yield on the portfolio wa5 2.9%12023: 2.9Yol. Reserves policy The charity's reserves policy is to hold a level of unrestricted reserves that cover at least six months, worth of anticipated expenditure. At 31 AuBUSt 2024 the charity held total funds of £2,054,04312023.. £1,909,852) of which £92,01712023.. £81,915) were restricted and not available for the general purposes of the charity, £1,762,158 12023.. £1,621,7211 were expendable endowment funds and £199,86812023.. £206,216) were unrestricted funds (free reserves). The level of free reseeS is in line with the Charity's reserves policy. Administrative costs The charity pays no administrative expenses at all, except for investment management fees and bank charges. All its other costs 3re borne by the Baibers, Company. Risk Management The Trustee has assessed the major risks to which the charity 15 exposed, in particular. those related to the operations and finances of the charity and is satisfied that £ystems are in place to mitigate its exposure. A major financial risk derives from market vo13tility and the potential knock-on effect on the charittys ability to meet it5 charitable commitments should markets struggle. The investments are man3ged by repLJtable professional investment manager5 who adhere to a policy agreed by the Trustee and the Ch3rity Committee. Regular meetings are held WiLh the investment managers and their performance and that of the portFolio are monitoied regularly. Whilst various worldwide crises may influence markets, the Trustee does not believe that there Is any material risk that the charity COLsld not continue as a going concern. It has sufficient reserves to cope with any short-term income loss and charitable spending could be adjusted as necessary. Structure Governance & Mana ement The Trustee is responsible for preparing the Tfu5tee's Report and the financial statements in 3ccord3nce with applicable law and United Kingdom Accounting Standards (United Kingdom Generally ACpted Accounting Practicel, The law applicable to charitie5 in England and Wales requires the Trustee to prepare f inancial statement5 for each financial ye3r, which give a true 2nd fair view of the state of aff3irs of the charity and of the income and expenditure of the charity for that period, In preparing these financial statements, the Trustee is required to.. Select suitable accounting policies and apply them consistently,. observe the methods and principles in Accounting and Reporting by Charities= Statement of Recomtnended Practice applicable to charitiès preparing their accounts in accordance with the Financial Reportln8 Standard applicable in the UK and Republic of I reland IFRS 1021,. make judgements and estimates that are re3sonable and prudent,. state whether applicable United Kingdom accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements,. ar)d prepare the f inancial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operBtion. The Trustee is responsible for keeping proper accounting records that disclose wlth reasonable accuracy at 3n¥ time the financi81 position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations and the provisions of the trust deed.
The Barbers, Company General Charitiès Trustee's Report and Financial Statements for the year ended 31 August 2024 TRUSTEE'S REPORT continued They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The managernent of the charity is the responsibility of the 83rbers' Company, and these duties are exercised by all the members of the Court of the Company, with routine charitable matters being conducted on behalf of the Court by the Charity Committee. Day to day man3gement and administration of the Barbers, Cotnpany 15 delegated to its Executive Officer, the Clerk. M J Doran, who also attends all meetings of the Charity Committee. New members of Court are selected from the Livery of the Company and are elected by ballot by existing Court members. All members of Court are regularly reminded of their re5POn5ibilities by the Clerk who draws their attention to the relevant Charity Commission publications, including "The Essential Trustee., Wh3t you Need to Know, What You Need to Do" plus details of the Company's charities, guidelines 3nd objectives. ApprDpri3te training and development are encouraged and Supported by the Company. Members of the Court and the Charity Committee are expected to comply with ongoing continual professional development requirements and opportunities are regularly given to 3ttend charity educational training and events. Members of the Court of the Baiber5' Company and of the charity Committee do not receive any remLJneration or expenses in respect of their duties. The Charity Committee is responsible for the routine administration of the charity and is 3S5iSted by the Clerk. The Committee reports to the Court of the Barbers, Company four times a year following meetings at which appeals for financial 3£SlSt2nce are considered. The Clerk to the Company and the Chairman of the Charity Committee conduct a prellminary review of incoming appeals to determine which fall within the limits of the Court's guidelines,. those that qualify are placed on the agend3 for further consideration by the Charitv Committee at its next meeting. Members ofcourt.. The Members of the Court of the Barbers, Company between the be8inning of the financial year and the date that the accounts were signed were as *ollows'. Wl Cr05er Imasterl DrAI Michalski The Hon Mrs V Lovell S Bh3ttacharya MR King CW Spr3gue FN Read Drjs Bolton BW Cope JN Rounce Sir Roger Vicker5 GR Preston AE Hoskinson Dr TP Cutler MIB Roberts NJ Goddard Pl Fabricius Dr ME Heber DG Tomlinson TR Lee Nl Gregory PDR 5praggs (appointed 8 August 20241 DK Ellis lappointed 8 August 20241 Sir Barry Jackson Iresigned 8 August 20241 Lord Ribeiro (resigned 8 August 20241
The Barbers, Compar,v General Charities Truslee's Report and Financial Statement5 for the year ended 31 August 2024 TRUSTEE'S REPORTcontinued chari Committee Members.. Charity Committee Members between the beginning of the financial year and the date that the accounts were signed were as folloivs.. Wl Croser Dr AJ Michalski The Hon Mrs V Lovell 5 8hatlacharya lappolnted 8 August 20241 MR King Dr ME Heber (appointed Chairman 8 Au8USt 20241 GR Preston DK Ellis Sl Cooke Prof Fcf Smith Dr JH Taylor (appointed 8 August 20241 AJ Lye (appointed 8 August 20241 ASE Goddard13ppointed 8 August 20241 AE Hoskin50n (Chairman, resigned 8 AuEUSt 20241 Nl Goddard (resigned 8 August 20241 Dr GL Henson Iresigned 8 August 20241 PA Cole Iresigned 8 August 20241 Reference & Administrative Details Prlncipal Office.. The Barbers, Company Barber-surgeons, Hall Monkwell Square Wood Street London EC2Y SBL Bankers.. C Hoare & Co 37 Fleet Street London EC4P 4DQ Independent Examiner.. Edward Finch Buzz3COtt LLP 130 Wood Street London EC2V 6DL Investment Managers.. Quilter Cheviot Sènator House 85 Queen Victoria Street London EC4V4AB This report was approved by the Trustee on 25 February 2025 and signed on its behalf, by.. Dr ME Heber (Chairman of the Charity Committee)
The Barbers, Company General Charities Trustee's Report and Financial Statements for the year ended 31 August 2024 Independent examinerfs report to the Trustee of the Barbers, Company General Charities I report to the charity Trustee on my examination of the accounts of the &arber5' Company General Charities Ithe charityl for the year ended 31 August 2024. Responsibilities and ba515 of report A5 the Trustee of the charity, YOU are responsible for the preparation of the account5 in accordance with the requirements of the Charities Act 20111'the Acf l. I report in respect of my examination of the charity's accounfs carried out under section 145 of the 2011 Act and in carrying out my examinatior) I have followed 311 the applicable Directions given by the Charity Commission under section 1451Sllbl of the Act. Independent examinerfs statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination 8iving me cause to believe that in any material respect: accounting records were not kept in respect of the charity as required by section 130 of the Act., or + the accounts do not accord with those records,. or + the accounts do not comply with the applicable requirements concerning the form 3nd content of accounts set out in the Charitie5 IAccounts and Reportsl Regulations 2008 other than any requirement that the accounts 8ive a 'true and lair view, which is not 3 matter considered as part of an independent examination. I have no concerns and have come acros5 no other matters in connection with the examination to which attention should be drawr) in this report in order to enable a proper understanding of the accounts to be re3ched. Name,, Edward Finch Relevant professional qualification or body.. ICAEW On behalf of Buzzacott LLP Chartered Accountants 130 Wood Street London EC2V 6DL
The Barbers, Company General Charities Trustee's Report and Financial Stitements for the year ended 31 August 2024 Statement of financial attivitles for the year ended 31 August 2024 Notes Expendablè Endowment Funds 2024 Restricted Funds 2024 Unrestricted Funds 2024 Total Funds 2024 Income from,. Donztions and legacies Investment income 186,955 53,084 240,039 186,955 56,470 243,425 3,386 3.386 Total income Expenditure on.. Raising Funds Investment rnanagement fees Charitable actNities Total expenditure Net gains on investments Net incomellexpendlturel 9.654 633 10,287 248.887 259,174 159,940 144.191 2,5 3,133 9,849 10,102 246,387 246,387 9.654 150,091 140,437 16,3481 Total funds 3t I September 2023 Total funds at 31 August 2024 1.621,721 1,762,158 81.915 92.017 206,216 199,868 1,909,852 2,054,043 Stotement offffnonciol aGtlvitlesfvr the yeur ended 31 August 2023 Notes ExpÉntloble Endowment Funds 2023 Restricted Funds 2023 Unrestricted Funds 2023 Totol Funds 2023 Incomefrom., Donations and lega¢ies Investment income 100,629 178,437 48,543 227,080 279.066 52.025 331,091 3,383 3.382 Totallncome Expenditure on.. RcTising Ftjnds Investment manogementfees Choritable uctivities Total expendlture Net1055es on investments Netincome/la¥penditure) It,529 8,983 629 9,612 355,839 265,451 {56,(M52 120,405) 5,000 5,629 (5,311) 17,558J 250,839 250,839 8,983 180, 734) 10,912 {23,759J Tottslfunds ot I September 2022 rotulfunds ot 31 August2023 1.610,809 1,621,721 89,473 81.915 229,975 206,216 1,930,257 1,909,852 ASI activities relate to continuing operations. The notes cin pages 9 to 16 form part of these financial staternents.
The Barbers, Company General Charities Trustee's Report and Financial Statements for the year ended 31 August 2024 B21ance Sheet As at 31 August 2024 Notes Total Funds Total Funds 2024 2023 Fixed assets Investments 1,904,891 1,755,255 Current assets Debtors Cash at bank and in hand 26,473 171,435 197,908 27,125 223,186 250,311 Creditors.. amounts falling due within one year Net current a55ets 148,7561 149,152 195,7141 154,597 Total a55et5 less current liabilities 2,054,043 1,909,852 Funds Expendable endowment funds Restricted funds Uniestricted funds Total fund5 819 819 819 1,762,158 92,017 199,868 2,054,043 1,521,721 81,915 206,216 1,909,852 The financial statements were approved by the Trustee on 25 February 2025 ancl si£nÈd on its behalf. by.. Dr ME Pteber Ichairrnan of the Charity Committee) The notes on pages 9 to 16 form part of these financial statements.
The Barbers, Compapy General Charities Trustee's Report arid Financial Statements for the year ended 31 August 2024 Notes to the flnancial statements lor the year ended 31 AuBUSt 2024 l. Accounting Policies The principal accounting policies adopted, judEernents and key sources of estimation uncertainty in the preparation of the financial statements are as follows.. al Basis of Preparation The financial statements have been prepared in accordance with 'Accounting and Reporting by Charitie5.' St3tement of Recommended Practice applicable to charities prepaling their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. The charity constitutes a Public Beiiefit Entity as defined by FRS 102. The financial statemènts have been prepared in sterling and rounded to the nearest pound. bl Preparation of the Bccounts on a going concern basis The Trustee is satisfied that the charity is a going concern and has prepared these finar)cial statements on that basis. The charity has adequate unrestricted reserves tD meet its annual commitments for the foreseeable future and also has significant expendable endowment funds which could be spent should the need arise. cl Key estimates and judgement5 The financial statements do not contain any material key estimates or jud8ements. dl Income Donation income 15 recognised when the charity ha5 entitlement to the funds. it is probable that the income will be received. and the amount can be measured reliably and is not deferred. Investment income, including interest. is recognised when receivable. el Fund accounting Endowment funds are funds that the Trustee is legally required to invest or to keep and use for the charity's purposes. The charity's endowment funds are considered to be expend3ble, and the Trustee ha5 the power to convert these Into income should the need arise. However, these funds are distinguishable from'income, by the absence of a positive duty on the part of the Trustee to apply them for the purposes of the charity, unless and until thi5 power to convert into'income, is actually exercised. In 2013, following 3 review of the ch3rity's reserves, the Trustee considered the Source and intention of the original fundg given and decided it was more appropriate to classify part of unrestricted rèserves as expendable endowment funds. The level of this reserve as at I September 2012 reflected the amount of unrestricted investment funds at the same date. General funds are unrestricted fLJnds which are 3vail3ble for use at the discretion of the Trustee in furtherance of the Eeneral objectives of the charity and which have not been designated for other purposes.
The Barbers, Company General Charities Trustee's Report and Financial Statements for the year ended 31 August 2024 Notes to the financial statements for the year ended 31 August 2024 Icontinuedl el Fund accounting Icontinuedl Restricted funds are funds which are to be used in accordance with specif ic restrictions imposed by donors, or which have been raisecs by the charity for particular purposes. The cost of raising 3nd administering such funds Is charged against the specif ic fund. The aim ancs usè of each restricted fund is sel out in the notes to the financial statements. fl ExpenditLJre and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reli3bly. Expenditure is classified under the following headings.. I nve5tment Management Fees include the charity's share of fees charged to collective investments schemes in which it has holdings where these are clearly identifiable. Expenditure on Charitable Activities include5 both grants awarded and their associated support costs. Irrecover3ble VAT is charged 3s a cost against the activity for which expenditure was incurred. gl Investments Investments are stated at market value at the balance sheet date. The statement of financial activities includes the net gains 3nd losses arisin8 on revaluation5 and disposals throughout the year. h) Debtors Trade and other debtors are reco8nised at the settlement amount due. il Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions 3re recognised at their settlement amount due, Donations & Legacies Endowment Funds 2024 Restrlcted Funds 2024 Unrestricted Funds 2024 Total funds 2024 Donations received and gift aid Donation from Barbers, Company LeBacies Total 108,080 53,875 25,0 186,955 108,080 53,875 25,000 186,955 io
The Barbers, Company General Charities Trustee's Report ard Financial Statements for the year ended 31 August 2024 Notes to the financial statements for the year ended 31 August 2024 IcontiHuedl 2. Donations and Legacies (continuedj Endowment Funds 2Q23 Restricted Funds 2023 Unrestricted Fund5 2023 Totsl Fund5 2023 onations received ond gift aid Donation frc)m Barbers, Comp(Jny Totol 105,848 72,589 178437 105,848 173,218 279,066 100.629 100,629 Charitable Activitie5 Restricted Funds 2024 Unrestricted Funds 2024 Total funds 2024 Grants to individua15 Grants to institutions Support Costs Ibank charges) Total 2,500 500 245,451 436 246,387 3,000 245,451 436 248,887 2,5QO Grants were m3de to one individLJal from restricted funds and one individual from unrestricted funds. A list of Institutional grants is shown overleaf. Restricted Fund5 2023 Unrestricted Funds 2023 Totol Fynds 2023 Grc7nts to ffndividuuls Grants to institution5 Support Costs (bunk chorgesl Total 5,000 300 250,142 397 250,839 5,30Q 250,142 397 255,839 5,000 Gronts were mode to two individualsfrom restrictedfunds (3nd one individualfrom unrestrictedfund5. A list of institutional grants 15 shown owerleaf. li
The Barbers, Company General Charities Trustee's Report and Financial Statements For the year ended 31 August 2024 Notes to the financial statements for the year ended 31 August 2024 Icontinuedl Choritoble Activitftes continued Institutional grants 2024 2023 King's College London Royal College of Surgeons Phylli5 Tuckwell Hospice University of East Anglia INursing scholarships) The Guildhall School Trust Ischolarships and bursaries) Richard Cloudesley School Treloar Trust City of London Academy ISouthw2rkl British Society of Gastroenterology British Orthopaedic Association IDEALS Maggie's Centres Music Therapy Charitv The Lord M3yo¢s Appeal Doctors, Orchestra18arbers' staff timel Royal British Legion (Garden of Remembrancel St Paul's Cathedral Choir School FoundatlDn Sl Giles, Cripplegate Sheriffs, & Recorder's Fund Tooting & Balham Sea Cadet5 SSAFA Carol Concert Swilch 180 (Snow Camp) ABF The Soldiers, charity IBig Curry Lunch) BMA Charities IMcNee awards) ABF The Soldiers, Charity (King Edward Vll Hospital pain management programmel City Harvest London Sympk¥ony Orchestra City of London School liGEMI Other grants less than £1,0 90,000 50,000 50,000 20,000 7,300 5,000 5,000 3,100 3,000 3,000 2,500 2,496 2,000 1,500 1,033 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 80,000 50,000 30,000 14,750 7,500 5,104 5,000 3,100 3,000 2,244 1,500 1,000 1,000 1,000 1,000 1,000 1,000 30,000 6,500 5,000 4,000 3,000 5,159 261,857 111,7151 250,142 3,280 257,209 111,7581 245.451 Le55 grants paid by the Haymarket Charitable Trust Total Institutional Grants During the year, the Barbers, Company General Charities gave bursaries of £7,300 to the Guildhall School Trust12023.. £7,300, plu5 a perfoimance Brant of £2001. It also gave bursaries of £3,000 to the City of London Ac3demy ISouthwarkl12023.' £3,(M)01 and awarded prizes to 13 schools12023', 12 schools). Of this, £11,758 12023.. £11,715) wa5 pBid by the H3ymarket Charitable Trust, with the balance being mèt by the Barbers, Comp3ny General Charities. 12
The B3rber5' Company General Charities Trustee's Report and Financial Statements for the year ended 31 August 2024 Notes to the financlal statements for the year ended 31 August 2024 Icontinuedl 4. Trustee remuneration During the year, the Trustee did not receive any remuneration from the charity12023 - £nill During the year. the Trustee did not receive any benefits in kind from the ch3rity12023 Enill During the year, the Trustee did not receive any reimbursèment of Èxpenses from the charity12023 - £nill 5. Fixed asset investment5 Listed securitles Market value At I September 2023 Additions Donation fron) Barbers, Company Disposals (proceeds £286,006, realised gains E15,2201 Unre31ised gains At 31 August 2024 Cash awaiting investment Total investment5 1,626,067 338,838 53,875 1270,7861 144,720 1,892,714 12,177 1,904,891 Investments at market value comprise: 2024 2023 Listed investments Cash 1,892,714 12,177 1,904,891 1,626,067 129,188 1,755,255 All fixed asset investments are held in the U K. 2024 2023 Historical cost of listed investments 1,614,941 1,616,463 Material investments There were no investments held at year-end that individually comprise more th3n 5% of the total market value of the investments. 13
The Barbers, Company Gener31 Charities Trustee's Report and Financial Statements for the year ended 31 August 2024 Notes to the financial statements for the year ended 31 August 2024 Icontinuedl 6. Debtors 2024 2023 Prepayment5 2nd accrued income Gift aid recoverable 12,862 13,611 26,473 14,224 12,901 27,125 7. Creditors.. Amounts falling due within one year 2024 2023 AmoLJnt due to the Haymarket Charitable Trust Amount due to the Barbers, AmalEamated Charity Accruals and deferred income 14,557 31,199 3,000 48,756 14,565 31,149 50,000 95,714 8. Statement of funds For the year ended 31 August 2024 Brought ft)Iward Carrled forward Income Expenditure Gains Expendable Endowment 1,621,721 19,6541 150,091 1,762.158 Restricted funds Ronald Raven Bequest 81,915 3,386 13,1331 9,849 92,017 Unrestricted funds General funds 206,216 240,D39 1246,3871 199.868 Tolal funds 1,909,852 243,425 1259,1741 159,940 2,054.043 Expendable Endowment Funds In 2013, following a review of the charity's reserdes, the Trustee considered the source and intention of the original funds given and decided it was more appropriate to classify p3rt of unrestricted reserve5 as expendable endowment funds. Th2 level of this resepde as at I September 2012 reflected the amount of unrestricted investment funds at the same date. The movement on this fLJnd reflects the cost of investment manager's fees, gainsllosses on the portfolio since I September 2012 and any donations to the fund. Restricted Funds The Ronald Raven Bequest aims to provide financial assistance for special training or educational projects proposed by Ljndergraduate or postgraduate medical or surgical students or by members of the Medical Artists, Association. 14
The Barberg, Company General Charities Trustee's Report and Financial Statements for the year ended 31 August 2024 Notes to the financial statements for the year ended 31 AuEust 2024 Icontlnuedl 8. Statement of fund5 Icontinuedl For the yearended 31 August 2023 Brought fofword Corried forwt7rd Income Expendlture Losses Expenduble Endowment 1,610.809 100,629 (8.983) {80,734J 1,621,721 Restrictedfvnds Ronuld RavEn Bequest 89,473 3,382 (5,629} (5,311) 81,915 Unrestrictedfunds Generolfund5 229,975 227,080 1250,839) 205.216 Totalfunds 1.930,257 331,091 {265,451) (86.045) L9Q9,852 9. Assets byfunds For the year ended 31 August 2024 Expendable Endowment Funds 2024 Restricted Funds 2024 Unrestricted Funds 2024 Total Funds 2024 Fixed Assets Investments 1,791,811 113,080 1,904,891 Current A5set5 Debtor5 Cash at bank and in hand 544 25,929 171,435 197,364 26,473 171,435 197,908 544 Creditors.. amounts falling due within one year Net current assets 148,7561 148,7561 148,608 149.152 544 Interfund balance Total a55ets less current liabilitie5 129,6531 1,762.158 121,6071 92,017 51,260 199,868 2,054,043 15
The 8arbers' Company General Charities Trustee's Report and Financial Statements for the year ended 31 August 2024 Notes to the financial statements for the year ended 31 August 2024 Icontinuedl 9. Assets by funds Icontinuedl For the yet7r ended 31 August2023 Expendable Endowment Funds 2023 Restricted Funds 2023 Unrestricted Funds 2023 Total Funds 2023 FixedAssets Investments 1,651,371 103,884 1. 755,255 CurrentAs5et5 Debtors CJ5h at bonk and in hand 601 26,524 223,186 249,710 27,125 223,186 250,311 601 Creditors.. umountsf(711ing due within one year Net currerpt Qssets 195, 714) (95,714) 601 153,996 154,597 Interf(Jnd balonce Total os5ets less current liobilitles (29,6501 1,621,721 (22,570) 81,915 52,220 206,216 1,909,852 10. Related partie5 The charity shares 3 common Trustee (the Barberg, Company) with the Barbers, Amalgam3ted Charities and the Haymarket Charitable Trust. During the year the Trustee donated listed inve5tment5 Wlth a market value of £53,87512023.. £173,218) to the charity. The Haymarket Charitable Trust has no bank account of its own and all of its income is received, and all of its donations are paid via the Barbers, Company's General Charities bank account. During the year grants of £11,75812023.. £11,7151 were paid by the charity on behalf of The Haymarket Charitable Trust. Balances due lo related parties at the year-end are shown at note 7. DG Tomlinson, a member of the Court of the Barbers, Company, is also a trust&e of the Phyllis Tuckwell Hospice. Professor Fct Smith, a member of the Charity Cotnmittee, is a member of the Roy31 College of Surgeons Eng Fellowship Awardin8 Committee. AE Hoskinson, a member of the Court of the B3rbers' Company and former member of the Charity Committee, is chairman of the Treloar's lundraiging committee. Mr Tomlinson. Professor Srnith and Mr Hoskinson declare their interests and whilst their opinion might be sought, they are not involved in the decision making, or subsequent review of grants made to those charities. There were no other related party transactions requiring disclosure. 16