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|**Contents**|**Page**|
|---|---|
|General Information||
|Trustees' AnnualReport|2|
|IndependentAuditor'sReporttotheTrustees|8|
|StatementofFinancial Activities|II|
|Balance Sheet|12|
|NotestotheFinancial Statements|13|
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|Registered Charities' Names|The Cordwainers' Company Common InvestmentFund(Pooled
Trusts), Minge'sGiftandthe EmilyFrancesJackson Bequest|
|---|---|
|Charity Numbers|261891, 266073and220442|
|Principal Office|Saddlers House
GutterLane
London
EC2V6BR|
|Trustees|The trustees are the MasterandWardensofthe Worshipful
CompanyofCordwainers,whoare electedandinstalled intotheir
officeeachyearbythe membersofthe Livery Company:
J H Millidge (resigned18July 2024)
JDI Church
**ABN **Peal
Sir Stephen H Powis (appointed18July2024)
Advisedbythe Charity Committeeofthe Worshipful Companyof
Cordwainers, including:
D P A Emerson,**P**GPeal, A G C Ferrier,**P A**E Nanson,
PMC HodsonandB Barns|
|Secretary|P J Graham|
|Auditor|HaysMac LLP
IOQueen StreetPlace,
London, EC4RI**AG**|
|Bankers|C Hoare & Company
37 Fleet Street,
London,EC4P4DG
BarclaysBank
39Hatton Garden,
London,ECIN8DN|
|Investment Managers|Bordier & Cie (UK)PLC
23King Street,
London, SW I Y6QY|
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||**2023/24**|**2022/23**|
|---|---|---|
|CommonInvestmentFund(Pooled Trusts) - restricted - Shorne
Almshouses|249,982|249,982|
|Minge'sGift- unrestricted investmentproperties|438,303|438,303|
||**2023/24**|**2022/23**|
|---|---|---|
|CommonInvestmentFund(Pooled Trusts)- restricted|£2,206,698|£2,048,158|
|Minge'sGift- unrestricted|£2,446,227|£2,271,814|
|EmilyFrances Jackson Bequest- restricted|£692,096|£632,508|
|Designated - MusicFund|£27,450|£30,350|
|**Total **|**£5,372,471**|**£4,982,830**|
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|**Note**
**INCOME**
Donationsand
2
legacies
Incomefrom
3
investments
Shorne almshouses
Chesham almshouses
**TOTALINCOME**
**EXPENDITURE**
Raisingfunds
4
Shorne almshouses
7,16
Chesham almshouses
8
Charitable activities
5
**TOTALEXPENDITURE**
**NETINCOME**
Gains/(losses) on
investments
12
Property revaluation
11
Tran sferbetween funds
16
**NETMOVEMENTIN**
**FUNDSFORTHEYEAR**
Total funds broughtforward
**TOTALFUNDS**
**CARRIEDFORWARD**|**Unrest-**
**ricted**
**Funds**
£
111,160
91,791
5,710|**Rest-**
**ricted**
**2024**
**Funds**
**TOTAL**
£
£
625
111,785
74,648
166,439
33,300
33,300
5,710
**108,573**
**317,234 **
12,728
27,767
52,589
52,589
12,202
39,144
184,654
I**04,461**
**277,212**|**Unrest-**
**ricted**
**Funds**
£
96,205
80,607
5,978
**Rest-**
**ricted**
**2023**
**Funds**
**TOTAL**
£
£
96,205
56,573
137,180
27,264
27,264
5,978|
|---|---|---|---|
||**208,661 **||**182,790**
**83,837 **
**266,627**|
||
15,039
12,202
145,510||11,080
167,178
109,359
12,136
23,216
51,108
51,108
167,178
32,580
141,939|
||**172,751 **||**287,617**
**95,824**
**383,441**|
|||||
||35,910
136,899
(1,296)|
4,112
40,022
212,720
349,619
1,296
**218,128**
**389,641**
2,680,666
4,982,830|( I04,827)
(30,291)
(100,000)
(16,500)
**(251,618)**
2,553,782
(11,987)
(116,814)
(47,091)
(77,382)
(100,000)
16,500
**(42,578)**
**(294,196)**
2,723,244
5,277,026|
||**171,513**
2,302,164|||
||**2,473,677**|
**2,898,794 5,3722471**|**2,302,164 **
**2,680,666**
**4,982,830**|
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|**Note**
**FIXED ASSETS**
Properties
II
Investment
11
properties
Investments
12
**CurrentAssets**
Debtors
13
Cashatbank
Creditors:amounts
14
fallingduewithin
oneyear
**NET CURRENT**
**ASSETS**
**TOTAL ASSETSLESS**
**CURRENTLIABILITIES**
**TOTAL ASSETS**
**FUNDS**
Unrestrictedfunds
17
Restrictedfunds
16|**Unrest-**
**Rest-**
**ricted**
**ricted**
**2024**
**Funds**
**Funds**
**TOTAL**
£
£
£
282,500
282,500
522,780
522,780
1,670,628
2,619,086
4,289,714
2,193,408
2,901,586
5,094,994
4,651
17,392
22,043
291,647
(8,309}
283,338
296,298
9,083
305,381
(16,029)
(11,875)
(27,904)
**280,269**
**(2,792)**
277,477
2,473,677
2,898,794
5,372,471
**2,473,677 2,898,794 5,372,471**
2,473,677
-
**2,473,677**
2,898,794**2,898,794**|**Unrest-**
**Rest-**
**ricted**
**ricted**
**2023**
**Funds**
**Funds**
**TOTAL**
£
£
£
282,500
282,500
522,780
522,780
1,539,694
2,383,374
3,923,068|
|---|---|---|
|||2,062,474
2,665,874
4,728,348
2,779
3,706
6,485
266,719
15,754
282,473|
|||269,498
19,460
288,958
(29,808)
(4,668)
(34,476)|
|||**239,690**
**14,792**
**254,482**
2,302,164
2,680,666
4,982,830|
||||
|||**2,302,164 2,680,666 4,982,830**
2,302,164
-
**2,302,164**
-
**2,680,666 2,680,666**|
||**2,473,6772,898,794 5,372,471**|**2,302,164 2,680,6664,982,830**|
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|Donations received
(includingGiftAid)
Donationsinkind - note19
Designated Cordwainer
Charityofthe Year
(includingGiftAid)
750Fund(includingGiftAid)
MusicFund|**Unrest-**
**Rest-**
**Unrest-**
**Rest-**
**ricted**
**ricted**
**2024**
**ricted**
**ricted**
**2023**
**funds**
**funds**
**TOTAL**
**funds**
**funds**
**TOTAL**
£
£
£
£
£
£
54,846
625
55,471
47,655
47,655
24,702
24,702
21,534
21,534
27,816
27,816
7,792
7,792
1,296
1,296
16,724
16,724
2,500
2,500
2,500
2,500
**111,160**
**625**
**111,785**
**96,205**
**96,205**|
|---|---|
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|Income from investments
Rental income - investment
property|**Unrest-**
**ricted**
**funds**
£
47,915
43,876|**Rest-**
**Unrest-**
**Rest-**
**ricted**
**2024**
**ricted**
**ricted**
**2023**
**funds**
**TOTAL**
**funds**
**funds**
**TOTAL**
£
£
£
£
£
74,648
122,563
36,818
56,573
93,391
43,876
43,789
43,789
**74,648**
**166,439**
**80,607 **
**56,573**
**137,180**|
|---|---|---|
||**91,791**||
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|Investment property costs
Investment managers fees
Otherfundraising costs|**Unrest-**
**Rest-**
**Unrest-**
**Rest-**
**ricted**
**ricted**
**2024**
**ricted**
**ricted**
**2023**
**funds**
**funds**
**TOTAL**
**funds**
**funds**
**TOTAL**
£
£
£
£
£
£
5,887
5,887
2,087
2,087
8,153
12,728
20,881
8,137
12,136
20,273
999
**999**
856
856
**15,039**
**12,728**
**27,767 **
**11,080**
**12,136**
**23,216**|
|---|---|
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|Grants - note 6
Designated Cordwainer
Charity oftheYear
Research intothe
developments ofthe
Footwear Awards
Support and governance
costs|**Unrest-**
**Rest-**
**ricted**
**ricted**
**2024**
**funds**
**funds**
**TOTAL**
£
£
£
62,758
12,967
75,725
27,000
27,000
5,403
5,403
50,349
26,177
76,526
**145,510**
**39,144**
**184,654 **|**Unrest-**
**Rest-**
**ricted**
**ricted**
**2023**
**funds**
**funds**
**TOTAL**
£
£
£
48,891
8,100
56,991
7,500
7,500
5,591
5,591
47,377
24,480
71,857|
|---|---|---|
|||**109,359**
**32,580**
**141,939**|
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|**Support and**
**governancecosts**
Salaries,employersNIC
andpension costs
Costofservices donated
bythe Worshipful
CompanyofCordwainers
Auditors' remuneration
Accountancyfees
Professionalfees
Sundry
Bank charges|**Unrest-**
**Rest-**
**ricted**
**ricted**
**2024**
**funds**
**funds**
**TOTAL**
£
£
£
18,086
21,062
39,148
24,702
24,702
5,020
3,578
8,598
445
317
762
1,453
1,035
2,488
384
384
259
185
444
**50,349**
**26,177**
**76,526**|**Unrest-**
**Rest-**
**ricted**
**ricted**
**2023**
**funds**
**funds**
**TOTAL**
£
£
£
18,960
20,221
39,181
21,534
21,534
5,200
3,248
8,448
1,321
825
2,146
65
65
297
186
483
**47,377**
**24,480**
**71,857**|
|---|---|---|
|**6**
**GRANTS**
**RESTRICTEDFUNDS**
Blind - The Royal SocietyforBlind Children
Clergymen's**Widows**- The Clergy SupportTrust
Deaf - RoyalAssociationforthe Deaf
Distressed fathers - Footwear IndustryTrust
Elderly ladies - Footwear IndustryTrust
Ex-servicemenandwomen - Fusiliers Aid Society
Ex-servicemenandwomen - WalkingWithThe Wounded
Shorne - Almshouses Association
Shorne - ShorneParishChurch
**Total restricted grants**|**2024**
£
**400**
1,100
700
100
800
4,300
5,000
267
300
**12!967**|**2023**
£
3,000
300
300
1,000
1,000
**2,500**|
|---|---|---|
|||**8,100**|
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|Almshouse Association
Blind inBusiness
C Company Royal Fusiliers
Capel Manor College
CityUniversity Music Scholarship (from the MusicFund)
Clarks Shoemakers Museum
Cordwainers' Footwear Awards
DeMontfortUniversity
Footwear IndustryTrust
Guildhall Library
Livery Food Initiative
London CollegeofFashion {in memoryofLiveryman I Goff)
Lord Mayor'sFund
Rochester Cathedral
Royal SocietyforBlind Children (£400fromtheMusic Fund)
Sheriffs'andRecorder'sFund
ShorneParishChurch
St Katherine Cree
St Mary Aldermary
StOlave's Church
University College London
UniversityofNorthampton
**Totalunrestrictedgrants**|1,000
1,008
3,000
5,000
2,500
11,000
10,250
1,100
250
2,000
1,800
2,500
1,000
4,600
1,000
1,750
8,000
5,000
**62,758**|200
991
10,800
11,500
100
5,000
1,000
400
2,000
100
200
400
200
5,000
11,000|
|---|---|---|
|||**48,891 **|
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|Management charges
Repairs
Garden maintenance
Insurance
Counciltax
Professionalfees|**2024**
£
3,996
44,709
2,170
1,472
242
**52,589**
**2023**
£
3,091
43,221
1,289
1,325
2,054
128
**51 , 108**|
|---|---|
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|Repairs
Gasandelectricity
Insurance
Garden maintenance
Professionalfees
Counciltax
Profit on disposalofalmshouses
GranttoWeedon's Almshouses Chesham|**2024**
£
1,552
10,650
**12,202**|**2023**
£
909
3,223
958
661
(26,003)
1,922
(604,492)
790,000|
|---|---|---|
|||**167,178**|
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|**2024**|**2023**|
|---|---|
|£|£|
|39,148|39,181|
|Support staff|**2024**
**No**
3
**2023**
**No**
3|
|---|---|
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|**Charitable Properties:**
Shorne Almshouses
**Investment properties:**
Rear car park, Bromham
Road30/32 BromhamRoad,
Bedford (45.56% at cost
1975)
46/48 High Street,
Weybridge|**Unrest-**
**ricted**
**funds**
£
22,780
500,000
522,780
**Rest-**
**ricted**
**funds**
£
282,500
**2024**
**TOTAL**
£
282,500
22,780
500,000
522,780
**Unrest-**
**ricted**
**funds**
£
22,780
500,000
522,780
**Rest-**
**ricted**
**funds**
£
282,500
**2023**
**TOTAL**
£
282,500
22,780
500,000
522,780|
|---|---|
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|Market valueoflisted investments brought forward
Purchases
Disposals
Gains/(losses) on investments
Cashheldforinvestment
Total investments
Historical costs|**2024**
£
3,871,916
566,642
(553,154)
349,619
4,235,023
54,691
4,289,714
3,543,061|**2023**
£
3,904,544
749,064
(704,310)
(77,382)
3,871,916
51,152|
|---|---|---|
|||3,923,068|
|||3,766,207|
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|Prepayments
GiftAid recoverable
Almshouses
Property Agentcashaccount
Investment propertydebtor|**2024**
£
2,343
867
15,986
500
2,347
22,043|**2023**
£
2,240
1,383
2,362
500|
|---|---|---|
|||6,485|
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|Accruals
Income receivedinadvance
SocialSecurity costs
The Worshipful CompanyofCordwainers
**eferred income:**
Balancebrought forward
Releasedduring the year
Advancedrentreceived
Balancecarried forward|**2024**
£
21,879
5,067
**958**
27,904
**2024**
£
7,500
(7,500)
5,067
5,067|**2023**
£
**8,568**
7,500
**958**
17,450|
|---|---|---|
|||34,476|
|||**2023**
£
2,083
(2,083)
7,500
7,500|
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|The750Fund
Hardship&
WelfareFund
Clergymen's
widows
Blind
Deaf
Distressed
Fathers
Shorne
Elderlyladies
**Total Pooled**
**Trusts**
EmilyFrances
JacksonBequest
**Total**
**Restricted**
**Funds**|**Undist-**
**ributed**
**income**
**1/8/23**
28,541
-
18,852
1,690
8,273
1,027
315,360
28,158|**Transfer**
**Grants**
**Undist-**
**from**
**Move-**
**Transfer**
**paid**
**ributed**
**Capital**
**Unre-**
**Transfer**
**mentin**
**Capital**
**Total**
**Expend-**
**between**
**during**
**income**
**funds**
**stricted**
**between**
**shares**
**funds**
**funds**
**Income**
**iture**
**Funds**
**theyear**
**31/7/24**
**1/8/23**
**Fund**
**Funds**
**31/7/24**
**31/7/24**
8,480
(2,599)
-
34,422
258,867
1,296
-
23,674
283,837
318,259
-
-
65,474
-
65,474
-
-
505,431
-
505,431
570,905
5,532
(2,140)
(21,144)
(I,100)
157,446
-
(173,249)
15,803
2,51I
(729)
(3,072)
(400)
58,411
-
(63,799)
5,388
3,666
(1,418)
(9,821)
(700)
108,575
-
(119,048)
10,473
887
(344)
(1,470)
(100)
27,204
-
(29,737)
2,533
63,392
(74,942)
-
(567)
303,243
928,312
-
-
85,979
1,014,291
1,317,534
4,255
(1,646)
(29,967)
(800)
107,442
-
(119,598)
12,156|
|---|---|---|
||401,901
90,920|88,723
(83,818)
-
(3,667)
403,139
1,646,257
1,296
-
156,006
1,803,559
2,206,698
19,850
(7,676)
-
(9,300)
93,794
541,588
-
-
56,714
598,302
692,096|
||**492,821**|**108,573**
**(91,494)**
~~-~~
**(12,967)**
**496,933**
**2,187,845**
**1,296**
~~-~~
**212,720**
**2,401,861**
**2,898,794**|
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|**MOVEMENTONUNRESTRICTEDFUND**|||
|---|---|---|
|**Income Fund**
Undistributed income at I August 2023
Netincomeforthe year
TransfertoRestrictedFund
Undistributed income at31July 2024
**Capital Fund**
Capital funds at I August 2023
Netmovement onshares
Capital funds at31July 2024
TotalFundsat31July2024||£
244,782
35,910
(1,296)|
|||279,396|
|||2,057,382
136,899|
|||2,194,281|
|||2,473,677|
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