2022-12-31-accounts - The Weavers' Company Benevolent Fund

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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	The Weavers' Company	The Weavers' Company	The Weavers' Company	Benevolent
Registered	Number:	266189
Governing	Instrument:	Trust deed dated 5		June		1973
Trustee:		Worshipful Company			of	Weavers
Registered	Address:	Saddlers' House
		Gutter Lane
		London
		EC2V 6BR
Telephone;		02076061155
Email:		weaversoweavers.		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
		EC1A 9BD
Solicitors;		Lee Bolton Monier-Williams
		1The Sanctuary
		London
		SW1P 3JT
Auditors:		Haysmacintyre	LLP
		10Queen Street Place
		London
		EC4R 1AG

		Notes	Restricted	Unrestricted	Total	Total
			Funds	Funds
			2022	2022	2022	2021
					f	f
Income from:
Donations and legacies		2	20,500	165,954	186,454	190,483
Investment income				466,845	466,845	473,055
Total income			20,500	632,799	653,299	663,538
Expenditure on:
Investment management	fees			45,368	45,368	42,505
Charitable activities —grant	making
Grants and donations		3.1		511,027	511,027	451,712
Support costs ofgrant making		3.2		80,661	80,661	75,838
Total expenditure				637,056	637,056	570,055
Net (losses)/gains on investments				(2,104,282)	(2,104,282)	1,901,577
Net income/(expenditure)	for the		20,500	(2,108,539)	(2,088,039)	1,995,060
year
Reconciliation of Funds
Funds brought fonvard				17,587,964	17,587,964	15,592,904
Funds carried forward			20,500	15,479,425	15,499,925	17,587,964

		Notes	2022	2022	2021	2021
Fixed Assets
Investments				15,288,755		17,228,603
Programme Related lnvestment-
Concessionary loan to Weavers'
Almshouse Charities				65,000		80,000
Current Assets
Debtors		6	14,616		27,588
Cash at bank and in hand			254,724		362,146
			269,340		389,734
Creditors
Amounts falling due within one year		7	(123,170)		(110,373)
Net current assets				146,170		279,361
Total assets less current	liabilities			15,499,925		17,587,964
Funds
Restricted Funds				20,500
Genera I Funds				14,640,534		16,711,752
Designated Funds				838,891		876,212
Total				15,499,925		17,587,964

				2022	2021
Cash flows from operating activities
Net cash used in operating activities				(392,103)	(369,599)
Cash flows from investing activities
Investment income received				466,845	473,055
Purchase of investments				(750,579)	(2,358,928)
Transfer of investments from Weavers' Company				(101,585)	(74,805)
Sale of investments				655,000	2,418,976
Repayment of Programme Related		Investment		15,000	15,000
Net cash provided by investing activities				284,681	473,298
Change in cash and cash equivalents		in the year		(107,422)	103,699
Cash and cash equivalents at the start ofthe year				362,146	258,447
Cash and cash equivalents at the end		ofthe year		254,724	362,146
econciliation ofnet movements in	funds to net cash provided		by operating	activities
				2022	2021
Net (expenditure)/income for the year (as per the SOFA)				(2,088,039)	1,995,060
Adjustments for:
Losses/(Gains) on investments				2,104,282	(1,901,577)
Investment income				(466,845)	(473,055)
Decrease/(Increase) in debtors				12,972	(21,585)
Increase/(Decrease) in creditors				12,797	44,242
Decrease/(Increase) in investment	cash			32,730	(12,684)
Net cash used in operating activities				(392,103)	(369,599)

						Restricted	Unrestricted	Tata I	Tota I
						Funds	Funds
						2022	2022	2022	2021
						f	f	f	f
Donations	from	the		Worshipful
Company	of Weavers'		General		Fund	10,286	101,585	111,871	144,475
Donation	from	the		Clothworkers'
Foundation							39,377	39,377	22,500
Legacies							7,907	7,907	5,000
Other donations						10,214	17,085	27,299	18,508
						20,500	165,954	186,454	190,483

		2022	2021
		f	E
Quotedi nvestments:
Marketvalue b/f		17,112,975	15,196,641
Additions at cost		750,579	2,358,928
Transfer from Weavers'	Company	101,585	74,805
Disposal proceeds		(655,000)	(2,418,976)
Realised gains		13,072	229,613
Linrealised (fosses)/gains		(2,117,354)	1,671,964
Market value c/f		15,205,857	17,112,975
Short-term cash deposits		82,898	115,628
Total market value at 31December		15,288,755	17,228,603
Historic cost at 31December		10,148,406	9,874,232
Excess over cost at 31December		5,140,349	7,354,371

						2022	2021
						f	f
Gift aid recoverable						2,495	2,288
Prepayments	and accrued income					12,121	25,300
						14,616	27,588
Creditors due		within	one year
						2022	2021
						f	6
Related party	creditors:
Weavers'	Almshouse			Charities		564	520
Weavers'	General		Fund			10
Accrued grant		commitments			(see note 8)	96,192	92,386
Other creditors		and	accruals			26,404	17,467
						123,170	110,373

rovided for	from t	he cur	rent or previous	years' income	, but not p	aid at the year-	end are:
						2022	2021
						f	f
Support for Education Student placements			Awards			73,192 6,000	66,386 7,500
Other Textile Fund grants							11,500
Charitable	Grant	Fund	grants			17,000	7,000
						96,192	92,386
. Summary	of Funds
			Brought	Transfers	Income	Expenditure	Investment Carried
			forward				losses forward
			2022 f	2022 f	2022 f	2022 f	2022 f 2022 f
Restricted	Funds				20,500		20,500
Designated	Funds		876,212	500,000	89,692	(512,872)	(114,141) 838,891
General Funds			16,711,752	(500,000)	543,107	(124,184)	(1,990,141) 14,640,534
Total unrestricted		funds	17,587,964		653,299	637,056	(2,104,282) 15,499,925

				Charitable	Millenial	Primary	Textile	Total
				Grants		Schools
				2022	2022	2022	2022	2022
				E	E	f	f	E
Income
Voluntary income					23,992	1,000	39,377	64,369
Investment income					25,323			25,323
Grant allocation	from unrestricted		fund	220,000		60,000	220,000	500,000
Total income				220,000	49,315	61,000	259,377	589,692
Expenditure
Grants per Annual		Report		(221,928)		(49,363)	(239,736)	(511,027)
Support costs							(1,845)	(1,845)
Total expenditure				(221,928)		(49,363)	(241,581)	(512,872)
(Deficit)/Surplus				(1,928)	49,315	11,637	17,796	76,820
Income balance	b/f			5,865		6,675	34,378	46,918
Capital balance	b/f				829,294			829,294
Investment losses					(114,141)			(114,141)
Total designated	fund c/f			3,937	764,468	18,312	52,174	838,891

			Brought	Brought	Transfers Income Expenditure	Transfers Income Expenditure	Transfers Income Expenditure	Transfers Income Expenditure	Investment	Carried	Carried
			forward						Gains	forward
				2021		2021	2021	2021	2021	2021
				E		E	f	E	f		f
Designated Funds			720,060		(450,031) 460,000 67,806				78,377	876,212
General Funds			14,872,844		(120,024) (460,000) 595,732				1,823,200	16,711,7
Total unrestricted		funds	15,592,904			663,538 (570,055)			1,901,577	17,587,9
Summary of Designated			Funds	for the	year	ended 31	December 2021 (for comparative
purposes)
						Charitable	Millenial	Primary	Textile	Total
						Grants		Schools
						2021	2021	2021	2021	2021
						E	f	E	f	f
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
Capital balance	b/f						710,111			710,111
Investment gains							78,377			78,377
Total designated		fund c/f				5,865	829,294	6,675	34,378	876,212

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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 ofgreat 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 guidelines 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.
Monitoring 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 of good 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 expectations than in the past. There is intense peer
pressure to acquire what are seen as the signs of success,
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 649,363 were made to Primary Schools in
		2022. A list is at Appendix 3.

Summary
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 12
students on textile-related degree courses, and the colleges
themselves supported with funding for equipment. The
Committee also provided 14 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 6241,581 were made in
2022. A summary is at Appendix 4.

				Appendix 1
CHARITABLE GRANTS
Major Grants
Charity				Grant E
100& First Foundation				10,000
100 & First supported offender rehabilitation by providing assistance with
employment and skills training and enabling beneficiaries to turn those interests
into self-employment. An award was granted to	support a new project, Bars to
Business, that would help 18offenders from HMP/YOI Portland.
BBti t Tl				10,000
An award was granted to support the development	of 'Inside Job', a peer-led, in-
prison employment consultancy that was initiated	by a prisoner previously	involved
with Beating Time's Upstart training programme.
Bounce Back				30,000
Bounce Back provided 'through-the-gate' support	to prisoners through the	pan-livery
initiative, No Going Back. An award was agreed	to specifically support delivery of
the project for two years to 40 female offenders.
Children Heard &Seen				10,000
Children Heard &Seen developed a programme	of on-line support during	Covid to
support children with a parent in prison. An award enabled CHS to further		develop
the programme and make it a permanent feature	oftheir support provision,	enabling
them to have a broader reach and to help the increasing numbers referred,
Clean Slate Solutions				15,000
Clean Slate provided employment and information	and guidance advice, together
with mentoring support, especially for young people where early intervention work
was particularly important to break the cycle of escalating behaviour after		a first
minor conviction. An award was agreed for salary	costs to increase the mentor
support's hours to enable support to be provided	to additional beneficiaries.
~E				10,000
Escapeline delivered educational programmes in	schools, the community	and with
families, supporting those at risk of involvement with county lines gangs operating			in
Somerset & Dorset and at risk of being groomed	and criminally exploited.	An award
was granted to support salary costs for an ex-offender mentor.
London Basketball Association				9,680
An award was agreed to support BOOST —a year-long development, mentoring
and training programme that would provide weekly basketball session for		100young
people, qualifications training for 50 and volunteering opportunities for 75.		95'/B of
the beneficiaries came from BAME communities,	including refugee and migrant,
and 90'/B lived in social housing in the most deprived areas of London.
Maidstone Town Youth Cafis				6,959

CHARITABLE GRANTS
Major Grants / Cont
Charity			Grant E
~Ui T I t			10,000
Unique Talent would open a new e-bike engineering		hub giving young people the
chance to obtain accredited skills, work experience	and employment opportunities
as well as mentoring support. The project was based in South London which faced an escalating problem of gang violence. Funding towards salary costs was agreed.
~Ub U			4,039
Urban Uprising ran climbing programmes for at-risk		young people at various venues
throughout the UK. Programmes were delivered by	paid professional instructors,
supported by volunteers working directly with the youth at risk to improve physical and mental wellbeing. A contribution to salary costs was agreed.
TOTAL IIAJOR GRANTS, 2022			f205,178

							Appendix 2
CHARITABLE GRANTS
Annual Awards &Casual	Donations
Charity							Grant 6
Annual Awards
City & Guilds of London Institute							500
City of London Freemen's	School						250
Guildhall School of Music							6,000
Lord Mayor's Appeal							2,000
Sheriffs' & Recorder's Fund							1,000
St Paul's Cathedral							500
Upper Bailiff's Charities, 2022 London Youth Chairs (P1,000) and The Avenues					Youth Project (F500)		1,500
					Sub Total —Annual	Awards	11,750
Casual Donations
Snow Camp							500
City Remembrancer (Queen's		Platinum		Jubilee)			500
Wellingborough Recfwell Walking			Football Club				500
Prisoners Abroad							500
Fairview Education							500
School Studio Raveningham							500
St Giles Parish Church Wrexham							500
Suffolk Accident &Rescue	Services						500
Groby Sings							500
We Mind & Kelly Matters							500
					Sub Total —Casual	Grants	5,000
TOTAL ANNUAL AWARDS &		CASUAL		GRANTS, 2022			L'16,750