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2021-12-31-accounts

General Information
Trustee's
Report		 2-5
Independent
Auditor's		 Report 6-8
Financial Statements
Statement of Financial Activities
Balance Sheet 10
Cash flow statement
Notes to the Financial Statements 12-18

Full Name: The Weavers' Company Company Company Benevolent Fund
Registered Number: 266189
Governing Instrument: Trust deed dated 5 June 1973
Trustee: Worshipful
Company		 ofWeavers
Registered Address: Saddiers'
House
Gutter Lane
London
EC2V 6BR
Telephone: 020 7606 1155
Emaih weavers@weavers. org.uk
Website; www. weavers. org.uk
Clerk to the Trustee: James Gaselee
Bankers: C Hoare Ik Co
37 Fleet Street
London
EC4P 4DQ
Investment Advisors: Brewin Dolphin Ltd
12Smithfield
Street
London
EC1A98D
Solicitors; Lee Bolton Monier-Williams
1The Sanctuary
London
SW1P 3JT
Auditors: Haysmacintyre LLP
10Queen Street Place
London
EC4R 1AG

Notes Total Total
unrestricted unrestricted
funds funds
2021 2020
Income from:
Donations
and legacies		 2 190,483 160,574
Investment
income		 473,055 434,505
Total income 663,538 595,079
Expenditure
on:
Investment
management		 fees 42,505 37,274
Charitable
activity —grant		 making
Grants and donations 3.1 451,712 370,381
Support costs ofgrant making 3.2 75,838 87,436
Total expenditure 570,055 495,091
Net income before investment gains 93,483 99,988
Net gains on investments 1,901,577 218,861
Net Income for the year 1,995,060 318,849
Reconciliation
of Funds
Funds brought
forward		 15,592,904 15,274,055
Funds carried forward 17,587,964 15,592,904

Notes 2021 2021 2020 2020
Fixed Assets
Investments 17,228,603 15,299,585
Programme Related Investment-
Concessionary loan to Weavers'
Almshouse Charities 80,000 95,000
Current Assets
Debtors 6 27,588 6,003
Cash at bank and in hand 362,146 258,447
389,734 264,450
Creditors
Amounts
falling		 due within one year 7 (110,373) (66,131)
Net current assets 279,361 198,319
Total assets less current liabilities 17,587,964 15,592,904
Funds
General
Fund		 16,711,752 14,872,844
Designated Funds 876,212 720,060
Total 17,587,964 15,592,904
2021 2020
Cash flows from operating
activities
Net cash used
in operating
activities		 (369,599) (400,696)
Cash flows from Investing
activities
Investment
income received		 473,055 434,505
Purchase of investments (2,433,733) (1,250,369)
Sale of investments 2,418,976 1,240,985
Repayment
of Programme
Related		 Investment 15,000 15,000
Net cash provided
by investing
activities		 473,298 440,121
Change
In cash and cash equivalents		 In the year 103,699 39,425
Cash and cash equivalents
at the start ofthe year		 258,447 219,022
Cash and cash equivalents
at the end		 ofthe year 362,146 258,447
econciliation
of net movements
ln funds to net cash provided		 by operating activities
2021 2020
Net income for the year (as per the Statement
of Financial Activities)		 1,995,060 318,849
Adjustments
for:
Gains on investments (1,901,577) (218,861)
Investment
income		 (473,055) (434,505)
(Increase)/Decrease
in debtors		 (21,585) 16,914
Increase/(Decrease)
in creditors		 44,242 (35,810)
Increase
in investment
cash		 (12,684) (47,283)
Net cash used
in operating
activities		 (369,599) (400,696)

2021 2020
E E
Donations from the Worshipful Company of Weavers'
General Fund 144,475 106,538
Donation from the Clothworkers' Foundation 22,500 30,028
Legacies 5,000
Other donations 18,508 24,008
190,483 160,574

2021 2020
f f
Quoted investments:
Market value b/f 15,196,641 14,968,396
Additions
at cost		 2,433,733 1,250,369
Dispose
I proceeds		 (2,418,976) (1,240,985)
Realised
gains/(losses)		 229,613 (57,416)
Unrealised
gains		 1,671,964 276,277
Market value c/f 17,112,975 15,196,641
Short-term
cash deposits		 115,628 102,944
Total market value at31December 17,228,603 15,299,585
Historic cost at 31December 9,874,232 9,175,761
Excess over cost at 31December 7,354,371 6,123,824
5. Programme
Related Investment —Concesslonary		 Loan to Weavers' Almshouse Charities
An interest-free
loan off350,000was		 made to Weavers' Almshouses Charities on 28" February
2000 towards
the cost of refurbishing		 Weavers' House.
The loan		 is repayable at the rate of
f15,000 per annum
but the terms of		 repayment of the loan may be varied
by		 the agreement
of both parties.
No repayment		 was made for the years 2005 to 2007 inclusive, but repayments
resumed
in 2008,
6. Debtors due within one year
2021 2020
f f
Gift aid recoverable 2,288 3,203
Prepayments
and accrued income		 25,300 2,800
27,588 6,003
7. Creditors due within one year
2021f 2020
f
Related party creditors:
Weavers'
Almshouse
Charities		 520 141
Accrued grant commitments (see note 8) 92,386 50,334
Other creditors and accruals 17,467 15,656
110,373 66,131

2021 2020
f E
Support for Education Awards 66,386
Student piacements 7,500 18,834
Other Textile Fund grants 11,500 10,000
Charitable
Grant Fund		 grants 7,000 1,500
Primary Schools grants 20,000
92,386 50,334

. Summary of Fun ds
Brought Transfers Income Expenditure Gains Carried
forward forwal d
2021 2021 2021 2021 2021 2021
f E E f E f
Designated Funds 720,060 460,000 67,806 (450,031) 78,377 876,212
GeneralFunds 14,872,844 (460,000) 595,732 (120,024) 1,823,200 16,711,752
Total unrestricted funds 15,592,904 - 663,538 570055) 1,901,577 17,587,964

Charitable Millenial Primary Textile Total
Grants Schools
2021 2021 2021 2021 2021
E E E E E
Income
Voluntary
income		 21,308 4,500 22,500 48,308
Investment
income		 19,498 19,498
Grant allocation from unrestricted fund 200,000 60,000 200,000 460,000
Total income 200,000 40,806 64,500 222,500 527,806
Expenditure
Grants 201,813 49,099 197,800 448,712
Support costs 1,319 1,319
Total expenditure 201,813 49,099 199,119 450,031
(Deficit)/Surplus 1,813 40,806 15,401 23,381 77,775
Income balance b/f 7,678 (8,726) 10,997 9,949
Investment
gains		 78,377 78,377
Capital balance 710,111 710,111
Total designated fund c/f 5,865 829,295 6,675 34,377 876,212

Brought Transfers Income Expenditure Gains Carried
forward forward
2020 2020 2020 2020 2020 2020
f E f f f
Designated Funds 681,294 327,000 73,707 (371,473) 9,532 720,060
General Funds 14,592,761 (327,000) 521,372 (123,618) 209,329 14,872,844
Total unrestricted funds ~15274,055 595,079 495,091) 218,861 15,592,904
Charitable Millenial Primary Textile Total
Grants Schools
2020 2020 2020 2020 2020
f f F. E f
Income
Voluntary
income		 3,174 14,585 36,278 54,037
Investment
income		 19,670 19,670
Grant allocation from unrestricted fund 172,000 40,000 115,000 327,000
Total Income 175,174 34,255 40,000 151,278 400,707
Expenditure
Grants 190,885 46,970 132,526 370,381
Support costs 1,092 1,092
Total expenditure 190,885 46,970 133,618 371,473
Surplus/(deficit) (15,711) 34,255 (6,970 17,660 29,234
Income balance b/f 23,389 (1,756) (6,663) 14,970
Investment
gains		 9,532 9,532
Capital balance 666,324 666,324
Total designated fund c/f 7,678 710,111 (8,726) 10,997 720,060

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Summary Summary
The income of the Weavers' Company Benevolent Fund
may be applied to any charitable purpose. In 2021 the
following funding was previded for the three spending
committees;
~ The Charitable Grants Committee: f200,000
~ The Primary Schools Committee: f60,000
~ The Textile Committee: F200,000
Appendices:
List of Major Grants App 1
List of Annual
Awards
And Casual Grants App 2
List of Primary School
Grants App 3
Summary
of		 Textile
Awards App 4
Annual Accounts:
This Report forms a part ofthe
Annual Accounts, which are
bound separately

Charitable Grants The Committee
continued
with
its policy of preferring
one-
Committee Report off projects
and
keeping
its
forward
commitments
to a
minimum.
Applications
were received
from throughout
the
United
Kingdom;
from these 19 applications
were formally
assessed
and
16
major
grants
were
awarded.
The
assessments
were
carried
out
by
Liverymen
of
the
Company
and
all the projects that were assessed were of a
very
high
standard.
The projects
varied
from
community
projects to those
involved
with
offenders
and ex-offenders
with the emphasis
this year on the latter category.
Objectives ofThe Charitable
Grants Committee
Since
2006
the
priorities
of
the
Charitable
Grants
Committee
are:
Offenders
and ex-offenders
(particularly
those under
30years ofage), and
Helping disadvantaged
young people.
Within
the
above
categories,
the
Trustee
has
clear
guidelines
to assist applicants
for grants.
Policy Guidelines
Grant policies:
~
Applications
should
normally
be
for
grants
under
615,000 per annum.
~
Grants
may be awarded
for up to three years.
The Committee
will normally
consider funding
in the
following
areas:
~
Local
organisations,
eg those
working
in a village,
estate or small town with an income of less than about
6100,000.
Those
working
across
the
UK
should
normally
have
an
income
of not
more
than
about
F250,000.
Applications
for
pump-priming
grants
from
small
community-based
organisations
where
the Company's
grant would
form a major element ofthe funding.
~
Projects where the funding
is for an identified
purpose.
~
Overheads
associated
with
a
project,
eg
office
or
secretarial
support,
~
Ongoing
funding
for successful
projects
which
have
proved their worth.
~ Salaries, for up to three years.
~ Emergency
or
deficit
funding
may
be
awarded		 in
exceptional
circumstances
to an organisation		 which the
Company
knows well or has previously
supported.
The Committee
will not normally
consider		 funding:
~ Sponsorship,
marketing,
or other fundraising		 activities.
~ Endowment
funds,
bursaries,
or
long-term		 capital
projects.
~ Grant-giving
charities.
~ Work that has been
completed
or will		 be completed
while the application
is being considered.
~ Work that should be covered
by statutory		 funding.
~ Building work.
~ Capital
projects
to provide access
in compliance		 with
the Disability
Discrimination
Act.
~ Grants to individuals.
~ Collaborative
or
partnership
projects		 with umbrella
bodies or large, well-established
organisations.
~ Organisations
outside the UK,
~ Overseas expeditions
or travel.
Work that the Committee
will not support,		 other than In
exceptional
circumstances,
includes:
~ Work with children
under 5years ofage.
~ Universities
or colleges.
~ Medical charities or those involved
in medical		 care,
~ Organisations
of
and
for
people
with		 disabilities,
including
learning
and physical
disabilities.
~ Environmental
projects.
~ Work
in promotion
of religious or political		 causes.
Grant making activities:
The Trustee allocates the income
in two main		 ways:
~ major grants,
which meet the criteria and		 guidelines for
such grants and are fully investigated
and		 visited; and
~ casual
donations,
which
might
fall
outside		 the main
criteria
but are considered
by the Trustee		 to merit a
small donation.

Assessment
Visits
Members
ofthe Company
are invited
to visit charities
which
have
applied
for major grants
with their reports
forming
an
important
part
of the
assessment
process,
Many
have
continued
to keep
in touch
with
the projects,
which
have
derived
great benefit from their personal
support.
This close
involvement
is also of great value to the Company.
Applications
The
Company
is willing
to consider
applications
from
all
regions
of
the
UK
and
prospective
applicants
may
download
both
the
Guidelines
and
Application
Form
at
www. weavers. or
.uk,
Prospective
applicants
are
strongly
urged
to study
the guicfelines
carefully
before
proceeding
but many continue
to rely on the limited
information
given
in
(often
out-dated)
directories
of
grant-giving
trusts
and
consequently
submit
proposals
which
do
not
meet
our
criteria; a sad waste oftime and resources.
Nlonitoring
and Evaluation
The Company
maintains
contact with successful
applicants
and
monitors
their
projects
through
regular
progress
reports.
Some of the work supported
by the Company
is
also
independently
evaluated;
these
reports
and
evaluations
inform
grant-making
policy
and
disseminate
examples
ofgood practice.
Future Policy
The Trustee
regularly
reviews
its grant-making
policy
and
believes
that
the
work
undertaken
by
charities
with
the
support
of the Company
is more important
today than ever
before.
Young
people
are growing
up
in a fast-moving,
complex,
and
multi-ethnic,
multi-cultural
society
where
local
neighbourhoods
are changing
rapidly.
Modern
technology
and
mass
production
have
brought
within
reach
things
that
most
people
could
only
dream
about
until
quite
recently
and
young
people
have
much
higher
expectatlons
than
in the past. There
is intense
peer
pressure
to acquire what are seen as the signs ofsuccess,
particularly
on those who are under-achievers,
suffering
low
self-esteem,
and
there
has
been
a
deeply
worrying
increase
both
in the incidence
and seriousness
of criminal
behaviour,
and specifically
knife crime.

Primary Schools Primary Schools Summary
Committee Report The
Primary
Schools
Committee
supports
three
London
primary
schools
situated
in Southwark,
Tower Hamlets
and
Stockwell.
In addition
to the financial
support,
these schools
also receive a range
of practical
assistance
from
individual
Liverymen.
Structure,
governance
and management
The Trustee
is assisted
by a Primary
Schools Committee,
comprising
both Court members
and other members
of the
company,
which
meets
three
times
a year,
and
makes
recommendations
to the Trustee.
Objectives and activities
The overarching
objective
of the Committee
is to provide
help
in areas
of social
deprivation
and
family
breakdown,
and this is achieved
through
its work with Primary
Schools.
Within
London
this
work
centres
on
Grange
School
in
Bermondsey,
Chisenhale
School
in Tower Hamlets
and St.
Andrew's
Church of England
School
in Stockwell.
Achievements
and performance
Each School has a Liveryman
on the Board of Governors
and
grants
are awarded
annually
to assist the schools
in
funding
projects that are not supported
by public funds.
The Primary
Schools Committee
maintains
regular
contact
with the supported
Schools
Grants
totalling
949,099 were made to Primary
Schools
in
2021. A list is at Appendix 3.

Textile Committee Summary
Report In the 21st Century,
the Weavers'
Company
seeks to build
on almost
nine
hundred
years of involvement
in the craft
and
manufacture
of textiles,
especially
weaving,
The main
aims
and
objectives
of
the
Fund
are
to
encourage
excellence
in
all spheres
of the
United
Kingdom
woven
textile
industry
by
identifying,
supporting
and
nurturing
exceptional
students
during
their training;
to sponsor young
talent
working
within
the
industry;
supporting
centres
of
excellence
in textile education;
and
finally
recognising
and
working
with
those
who
have
made
the
most
significant
contribution
to the industry.
Structure,
governance
and management
The Trustee
is assisted
by a Textile Committee,
comprising
both Court members
and other members
of the company,
which meets twice a year,
and makes
recommendations
to
the Trustee.
Objectives and activities
The Textile Committee
meets
regularly
to select recipients
of
scholarships
and
to
assist
textile
educational
establishments
in
providing
the
training
necessary
to
properly
equip
students
to
work
in
the
modern
textile
industry.
The emphasis
is on supporting
projects
from
a
smaller
number
of educational
establishments
and also to
making
awards
to
people
in
industry.
The
Textile
Committee
will keep the process under
review,
Achievements
and performance
The scope of the
support
given
continues
to grow,
The
Textile
Committee
assisted
six universities
and
colleges
with
funding
support.
Scholarships
were
awarded
to 25
students
on textile-related
degree courses, and the colleges
themselves
supported
with
funding
for
equipment.
The
Committee
also provided
eight placements
within the textile
industry
for students
recently
graduating
with
a textile-
related degree.
Visits are made to the supported
textile establishments
to
monitor the grants
that have been made
and to assess the
need for future financial
assistance.
Efforts are also made
to
maintain
contact
with
individuals
that
have
received
awards
and scholarships.
Textile grants
and awards
totalling 6199,119 were made
in
2021. A summary
is at Appendix 4.
The Weavers' The Weavers' The Weavers' Company Millennial Fund was
launched
in
Company
Fund		 Millennial 1995 to receive
with the aim of
the Company's		 donations
building
a
Millennium		 from members
of the Company
significant
new charitable
fund by
in 2130.Income from donations,
legacies and investments was 840,806.
Peter Baxendell
Renter Bailiff
June, 2022
Appendix 1
CHARITABLE GRANTS
Major Grants
Charity Grant E
~hth
h		 15,000
Funding
had been previously
granted
to set up a transitional
support		 programme for
prisoners
leaving
HMPs Exeter and Dartmoor.
A need		 for a similar programme
had
been identified
at a female
prison, Eastwood
Park, An award was agreed towards
salary costs.
C2C Social Action 15,000
An award
had been agreed
in 2020 to enable C2C to set up a sewing		 project
providing
skills training
and practical and emotional
support
for young		 female
offenders.
A further award was agreed to extend programme
delivery.
Code 4000 7,000
Code4000 delivered
coding skills training
workshops
In		 male prisons and planned to
extend delivery
to work with female offenders at HMPs		 Low Newton and New Hall.
An award was agreed as a contribution
to core delivery		 costs.
~Et' * 15,000
Escapellne
worked
with young people aged 10-18with		 young
people		 aged 10-18at
risk of being groomed
and criminally
exploited
following		 an increase in the number
ofCounty
Lines gangs operating
in Somerset
8t Dorset		 with an ex-gang member
using
his own experiences to educate young
people about the consequences
and
reality of being recruited
by criminal
gangs.
Funding
for salary costs		 was agreed.
~hit
Fi t		 3,500
Innercity's
'Future
Hackney'
project had been previously		 supported
by the
Company.
An award was granted
for an organisational		 development trip to share
experiences
and to give a direct link to a wider platform		 of professional
experience.
It's Not Your Birthda
But		 15,000
The company
delivered
a range ofarts programmes
to		 young offenders
in HMPYOI
Feltham,
including
writing,
poetry,
music and dance.
The 'in-prison'		 programme had
been funded
by UK Youth,
Match funding was agreed		 to extend project delivery
'through-the-gate'.
Launch
itTrust Palsle		 15,000
A grant
in 2019 helped
LITP set up a community
enterprise
hub to support young
people setting
up a business.
A further award was agreed to support		 running
costs
to enable the Trust to develop a longer-term
funding
plan.
Middleton
Po stars Academ		 6,000
Middleton
Popstars delivered
a range of performing		 arts programmes
and
workshops
to build confidence
and aspirations
in young people. An award
was agreed to enable young
people to become involved
in making
costumes to wear
in drama
productions
with which		 they were involved.
CHARITABLE GRANTS
Major Grants ICont
Charity Grant E
Workin
0 tions in Education		 15,000
Working
Options
is an employability
and life skills charity that		 helps young
people
fulfil their potential.
A careers		 options programme
was delivered
free in		 state
schools, colleges and on-line by industry
volunteers,
A grant		 was awarded
to enable
Working
Options to develop a		 registration
portal for students		 to easily access the
programme
and to develop
an		 App to enable them to easily track their progress.
Y*
Sf r!		 14,300
Youretory
provided 1:1mentoring
support to young offenders		 through their court-
ordered
community
service. YourStory would work with youth		 offending services in
Lambeth
and Wandsworth
to		 support those aged 12-16.An award of614,300was
agreed for project costs -paid
receipt of satisfactory
reports),		 in 2 instalments
(67,300 and the second S7,000 on
The second instalment
will be due
in 2022.
TOTAL MAJOR GRANTS, 2021 f182,618
CHARITABLE GRANTS Appendix 2
Annual
Awards
&Casual		 Donations
Charity Grant 6
Annual
Awards
City & Guilds of London
Institute		 500
City of London Freemen's School 250
City of London Police Widows & Orphans Fund 150
Guildhall
School of Music		 6,000
Koestler Award Trust 1,000
Lord Mayor's Appeal 2,000
Sheriffs'
&Recorder's
Fund		 1,000
St Paul's Cathedral 500
Upper Bailiff's Charities, 2021
Students:
Aiicia Rowbotham
(Textiles) &		 Megan Brown (Siiversmithing) 1,500
Sub Total —Annual Awards 12,900
Casual Donations
Afghanistan
& Central Asian		 Association 500
Astriid 495
Broderer's
Company		 500
City of London Corporation (re Afghan resettlement) 500
Corbett Network 300
Daws Hall Trust 500
Kidmore End Cooks for Carers 500
Little Angel Theatre Company 500
Livery Kitchen
Initiative		 500
Longlands
Farm		 500
Macmillan
Cancer		 500
Monk Sherborne
Village
Hall		 500
Naturespot 500
Sub Total —Casual Grants 6,296
TOTAL ANNUAL
AWARDS		 & CASUAL GRANTS, 2021 619,195
Appendix
3
PRIMARY SCHOOL GRANTS
School Grant F.
Grange
Primary School (Southwark)		 F16,999
~ Sensory Room (F7,699)
~ Book Appeal (f9,000)
Christmas
Party (F300)
Chisenhale
Primary School (Tower Hamlets)		 Ef6,800
~ Artis Project (F6,500)
~ Schools Counselling
Partnership		 (62,000)
~ Book Appeal (67,500)
~ Weavers'
Awards Scheme (6500)
~ Christmas
Party (F300)
St. Andrew's
Church of England		 Primary School (Stockwell) Ef6,300
Promotion
of Creative Arts (F5,000)
~ Book Appeal (F6,000)
~ Staying Safe on the Streets (F2,000)
~ Weavers'
Awards Scheme (F2,000)
~ Christmas
Party (8300)

excellence.
p
Scholarships
totalling f45,000		 were awarded to students at the colleges:
Falmouth
University		 F4,000
Glasgow School ofArt 84,000
Heriot-Watt
University		 F5,000
Manchester
School ofArt		 F15,000
Nottingham
Trent University		 F8,000
The University
of Huddersfield		 59,000