2022-05-31-accounts - The Worshipful Company of Turners Charitable Trust

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			Page
Reference and administrative		details ofthe charity, its Trustees and advisers
Trustees' report			2-4
Independent auditors'	report	on the financial statements	5-8
Statement offinancial	activities
Balance sheet			10
Notes to the financial	statements		11-24

Trustees		Mr A J Sindall, Chair	Mr A J Sindall, Chair
		Mr P C Logan
		Miss M H A Scott
		Dr M Gaved
		Mr NA J HLuson
		Mr C Scott (appointed		26 May 2022)
Charity registered
number		267372
Principal office		Saddlers' House
		44 Gutter Lane
		London
		EC2V6BR
Clerk		Mr N Macnaughton
Independent	auditors	Kreston Reeves	LLP
		Chartered Accountants
		Statutory Auditor
		2nd Floor
		168Shoreditch	High Street
		London
		E16RA
Bankers		Barclays Bank Pic
		81 Fleet Street
		London
		EC4Y 1ET

				Unrestricted	Restricted	Total	Total
				funds	funds	funds	funds
			Note	2022	2022	2022f	2021 F
Income from:
Donations and legacies				46,581	6,875	53,456	42,753
Charitable activities				25,234	21,250	46,484	3,388
Investments				21,764		21,764	19,228
Total income				93,579	28,125	121,704	65,369
Expenditure on:
Charitable activities:
Awards and donations				50,624		50,624	39,863
Direct costs				23,937	21,992	45,929
Support costs				22,781		22,781	19,757
Governance				3,720		3,720	4,090
Total expenditure				101,062	21,992	123,054	63,710
Net (expenditure)/income		before net
gains on investments				(7,483)	6,133	(1,350)	1,659
Net gains on investments				24,813		24,813	86,540
Net movement in funds				17,330	6,133	23,463	88,199
Reconciliation offunds:
Total funds brought	forward			820,078		820,078	731,879
Net movement in funds				17,330	6,133	23,463	88,199
Total funds carried	forward			837,408	6,133	843,541	820,078

			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
			2022	2022	2022f	2021 F
Donations
Liverymen			38,829		38,829	31,156
Worshipful	Company	ofTurners				3,477
Turners Consort of Instruments						500
Gift aid			7,312		7312	7,123
Other miscellaneous			440		440	497
Brostoff donations				6,875	6,875
			46,581	6,875	53,456	42,753
Total 2021			42,753		42,753

		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
		2022	2022f	2022 f.	2021
Turning	for Good	1,312		1,312	3,388
Turning	Competition	3,655		3,655
Wizardry	in Wood (see note 6)	20,267	21,250	41,517
		25,234	21,250	46,484	3,388
Total 2021		3,388		3,388

		Unrestricted	Total	Total
		funds	funds	funds
		2022	2022	2021
Dividends	from listed investments	21,764	21,764	19,228
Total 2021		19,228	19,228

Wizardry in Wood exhibition
	Unrestricted	Restricted	Total	Total
	funds	funds	funds	funds
	2022	2022f	2022	2021 F
Income
Sponsorship		21,250	21,250
Exhibitors fees	4,680		4,680
Ticket sales	10,574		10,574
Raffle receipts	5,013		5,013
Total income	20267	21 250	41 517
Expenditure
Facilities	928	21,250	22,178
Marketing 8 print materials	5,735		5,735
Daytime events	5,484		5,484
Net cost of receptions	9,419		9,419
Miscellaneous	3,113		3,113
Total expenditure	24 679	21 250	45929
Net cost ofexhibition	(4,412)		(4,412)

Awards and donations
		2022	2021
The City
Musicians' Company		500
United Guilds Service		175
Sheriffs' and Recorder's Fund		820	250
The Children's Magical Taxi Tour		1,400
St Paul's Foundation		500	250
St Bartholemew's Hospital		500	750
City of London Police Widows	& Orphans	500	250
City of London Garden of Remembrance		190
Red Cross Ukraine Appeal		1,000
Aldgate School Book Fund		250
Pollinating London		500
UXO Playing Cards		500
Livery Schools Link			700
John Cass School			500
Livery Kitchen Initiative			500
Toynbee Hall			500
London Legal Support Trust			500
Pembroke College Foodbank			500
Mercers No Going Back		1,000	500
Sub total		7,835	5,200
The Lord Mayor's Charity
Lord Mayor's Appeal		2,000	1,500
The Lord Mayor's Scholarship	Fund	2,000	1,500
Sub total		4,000	3,000

The Master's Charity	The Master's Charity
Treloars Trust							300	300
Mental Fight Club							250
Sheriff &Recorders							250
Clervaux Fold							250
London Greenwood							250
City of London Sinfonia							200
Country Ways Farm							150
Save the Children							100
Max Carey Trust								250
Spread a Smile								100
Mind City, Hackney	&Waltham		Forest					300
Music for Life							(250)	250
								300
Hawkwood College
Sub total							1,500	1,500
Authorised by the	almoner
Benevolence payments							1,135	1,631
Armed services
Army Benevolent Fund							735
Royal British Legion							500	250
RAF StAthan							200	100
RAF Benevolent Fund							1,000	500
REME Benevolent Fund							1,000	500
RNRMC							1,000	500
Sub total							4,435	1,850
Craft
London Green Woodworkers								1,500
Axminster -lather for Somerset				Sheds			992
Clervaux Trust - pole lathe turner				in	NE		400
Burchill - tutoring at	Cermelite		Convent				338
Boxford lathe license for Amersham					School			642
Master Carvers Association		re	Grinling			Gibbons		750
Mercers re Grinling	Gibbons							3,500
Education and Standards							2,425
Sub total							4,155	6,392

Craft Awards and related	Craft Awards and related	Craft Awards and related	expenditure	expenditure
City of London Freemen's			School Prize		175	175
HMS Sultan Engineering		Prize			(50)
REME BestArmourer	Prize				100
Youth Training					800
Bodmin 8 District Woodturners				for Disabled Youth	300
Blackhorse Workshops					739
Woodturning Hartlepool					500
Bursary Award						1,000
Subscription to Skills' Council						200
Cockpit Arts					4,740	4,167
Howe Committee Expenses					995
Howe repairs					165
AWGB Scouts						973
Smallpiece Trust Arkwright			Scholarship			2,200
Covid-19 Support of Craft						11,025
Stour Music Festival					270	270
Consort of Instruments		Purchase			1,342
Pepys Recorder					6,100
Becket Pageant					800
Competition Awards					10,375
Competition Expenses					213
						280
WiW 2020 expenses
Sub total					27,564	20,290
Total					50,624	39,863

		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
		2022	2022	2022	2021
			E
Charitable	activities	74,561	21,992	96,553	39,863
Support cost		26,501		26,501	23,847
		101,062	21,992	123,054	63,710
Total 2021		63,710		63,710

		Activities	Grant
		undertaken	funding of	Support	Total	Total
		directly	activities	costs	funds	funds
		2022	2022f	2022f	2022f	2021f
Charitable	activities	45,929	50,624		96,553	39,863
Support costs				26,501	26,501	23,847
		45,929	50,624	26,501	123,054	63,710
Total 2021			39,863	23,847	63,710
Analysis	ofdirect costs
					Total	Total
					funds	funds
					2022	2021
Wizardry	in Wood				45,929
Analysis	ofsupport costs

			Total	Total
			funds	funds
			2022f	2021f
Clerk's salary	apportionment	and other shared costs	20,526	18,500
Bookkeeping	services		1,762	865
Bank charges			140	104
Software			298	288
Miscellaneous	expenses		55
Auditor's remuneration			3,720	4,090
			26,501	23,847

							Cash held
					Listed		for
					investments	f	investment	Total
	Valuation
	At 1 June 2021				729,012		3,467	732,479
	Revaluations				24,813			24,813
	Movement in cash held						(3,467)	(3,467)
	At 31 May 2022				753,825			753,825
12.	Debtors
							2022f	2021
	Due within one	year
	Income tax recoverable						4,649	3,700
	P repayments						154	11
							4,803	3,711
13.	Creditors: Amounts		falling due within one year
							2022	2021
							F
	The Worshipful	Company		ofTurners			5,456	4,964
	Accruals and deferred		income				12,984	20,340
							18,440	25,304

Summary	offun	ds - current year
		Balance at 1			Transfers	Gains/	Balance at
		June 2021	Income	Expenditure	in/out	(Losses)	31 May 2022
			E	F	E	F	E
Designated
funds		35,208		(12,875)	11,250		33,583
General funds		784,870	93,579	(88,187)	(11,250)	24,813	803,825
Restricted	funds		28,125	(21,992)			6,133
		820,078	121,704	(123,054)		24,813	843,541

Summary offun	ds	- prior year
		Balance at			Transfers	Gains/	Balance at
	1	June 2020	Income	Expenditure	in/outf	(Losses) F	31 May 2021
Designated
funds		32,208		(1,000)	4,000		35,208
General funds		699,671	65,369	(62,710)	(4,000)	86,540	784,870
		731,879	65,369	(63,710)		86,540	820,078

		Balance at 1			Transfers	Gains/	Balance at
		June 2021 F	Income	Expenditure	in/out	(Losses) f	31 May 2022 F
Unrestricted
funds
Designated
funds
Bursary Fund		7,208			4,000		11,208
Exhibition	Fund	18,000		(2,500)	750		16,250
Competition
Fund		10,000		(10,375)	6,500		6,125
		35,208		(12,875)	11,250		33,583
General	funds
General	Funds	784,870	93,579	(88,187)	(11,250)	24,813	803,825
Total
Unrestricted
funds		820,078	93,579	(101,062)		24,813	837,408
Restricted
funds
Wizardry	in
Wood Fund			21,250	(21,250)
Brostoff	Fund		6,875	(742)			6,133
			28,125	(21,992)			6,133
Total of	funds	820,078	121,704	(123,054)		24,813	843,541

Statemen	t offun	ds - prior year
		Balance at			Transfers	Gains/	Balance at
		1 June 2020	Income	Expenditure	in/out	(Losses)	31 May 2021
		f.					F
Unrestricted
funds
Designated
funds
Bursary Fund		4,208		(1,000)	4,000		7,208
Exhibition	Fund	18,000					18,000
Competition
Fund		10,000					10,000
		32,208		(1,000)	4,000		35,208
General	funds
General	Funds	699,671	65,369	(62,710)	(4,000)	86,540	784,870
Total
Unrestricted
funds		731,879	65,369	(63,710)		86,540	820,078

Analysis ofnet assets between funds -cur	rent year
	Unrestricted	Restricted	Total
	funds	funds	funds
	2022 K	2022 f.	2022f
Fixed asset investments	753,825		753,825
Current assets	102,023	6,133	108,156
Creditors due within one year	(18,440)		(18,440)
Total	837,408	6,133	843,541

Analysis ofnet assets between funds - prior year
	Unrestricted	Total
	funds	funds
	2021	2021
Fixed asset investments	732,479	732,479
Current assets	112,903	112,903
Creditors due within one year	(25,304)	(25,304)
	820,078	820,078