Charity nurn￿r. 267372
The Worshipful Company of Turners Charitable Trust
Unaudlted
Trustees, Report and Financlal Ststements
For the year ended 31 May 2024

The Wornhipfvl Company of Turners Charltable Trust
Contents
Page
Refernnce and admlni8trntlv• details of the chaylty. Its Trustees and •dvl88rn
Trust•o•' r•port
Indopondent examlngV$ report
Stat•m•nt ol flnancl•l •ctivitl•s
6•lanG• •h••t
Note¥ to th• financial •t*t•m•nt•

Tha Worshiplul Comp*ny of Turnern Charitable Trust
R•fgrence and adminlstratlve detsll$ of the charlty, its Tru$teo$ and advl$ers
For th8 y•av ènd￿ 31 May 2024
Trusteos
Mr C ScotL De facto Chair from 9 May 2024
MrNAJHLuson
IAr P C Logan IT8signed 31 January 20241
Mr A Ewens lappointed 22 Janyary 20241
Ms Josèphine Richardson (appointed 9 May 20241
r M KèTm#ek l#ppoinled 1 Juty 20231
Dr M Gaved (resigned 9 May 20241
Charfty r•glst•r•d
numbor
267372
P￿ncIPal offlcé
Saddlers. H¢)u5e
44 Gutter Lane
London
EC2V 68R
Cl•rk
Mr N Macnaughton
A¢¢ount•nt•
Kreston Reeves LLP
Ch8rt•rod Accountants
ststutory Audrtor
2nd Floor
168 Shoreoitch High Stre
London
E16K4
Bankgrn
Barclays 8ank Pk
Leicester
LE87 288
Page 1

The Wornhlpful Company of Turners Charitsble Trust
Trust•è$' report
Fortho year ondod 31 May 2024
The Trustees present their annual report together with the financial statements of the charity for the year 1 June
2023 10 31 May 2024.
Oblectlv•8 and 4ctivltl¢s
Pollel•8 and obj•ctlv•¥
In Sett￿ng obl•¢iives and pknning for activitres. the Truste8s have given due consideratK)n to general guidance
published by the Charity commiss￿)n relating lo public benefit, including the guidance 'Public benefit.. running
charity IP821'.
b. Maln actlvltlm und•rtakon to furth•r tho ch•rlty'• purpo•M for th• publlc b•n•llt
The Trust's prinapal aims are to promote the craft of luming and lo support a range of educational, training and
professional aclivilies. often through the prow5ion of lathes, Icols and training on a k>ng-lem) basis as well as
BUPPOrting tharilies related to the City of London and the craft
Achl•¥•m•ol• and pfjrfomianc•
•. R•vi•w of *¢tlvltl••
In October 2023, the Trust funded the biennral luming competitions, which showcased the skills of professional
and hobby turners. Prvzes of cash lin total £4.425) and Irophies were awarded lo those winning their chosen
C81egory of competition. The exhibition 8lso displayed some 20 turned pieces by invited professional tUTners who
were ¢hallenged to cr•ate a piece ol turned art to ¢elebrale Ihe Coronation ot His Majesty King Chades 111.
The Trust supports educational establishments and charrties including those colering for young people with
special needs, by providing lath?s and equipment. Th• Trust has developed a rèlationship with Ihts BlackhoTse
Workshop in Walthamsl¢)w. North London and is contrnuing to help aspiring turners develop their skills at
Cockpit Arts, a business ineubalof in South London for crafts people. The Trust's agreament to fund three
scholarships ovei six yeais. awarded by the Queen Elizabeth Scholarship Trust IQESTI for aspiring tumers, was
continued in 202314. A lotal of £15.000 has beén committed over the six wrs.
Th8 Trust has also continued to develop the Yeoman sd)eme. under whi¢h previous Bursary winners, Cod(pil
Art scholars and QEST scholars can l)e¢ome 8 'Yeoman' in Ihe Worshipful Comp8ny of Turners. Through this,
they Join a professional development programme to build the core skill$ needed to develop their car8er5 and
businesses. In 202314, the Trustees allocatèd £4,300 from an earlier donation Df £50,000 from a Liveryman to
fund this scheme. Other ways of supporting the Yeomen are under consideration.
The Trust supported a Second 'EmeTging tumèrs, workshop. OTgani5ed by the Register ol Professional Tumers,
which teaches new skills and offers networking opportunitses lo young professional turneT5. The Trust allocated
£2, 188 to th￿ venture.
Total expenditure on charFtable aclivrtjes by the Trust was £60,937 12023.. £70,937), compri$in9 the traditional
mix ol craft awards and contributsons to Cty of London and Amigd FoTC8S charities.
The Trustees are aware of a signffjcant legacy due to the charity and are Concerned about the delay in ils
payment to the Trust by the executors. They have engaged lawyers to advise on their best course of acty"on.
Page 2

The Woyshipful Company of Turnern Charitsble Trust
Trustees. report {continuedl
For the ye*r •nd•d 31 May 2024
Flnanclal rovi
Going concern
Aftei makin9 appropriate enquiries. the Trustees have a reasoneble expectation that the charity has adequate
resources to continue In operational existence for the foreseeable future. For this reason, they continue lo adopt
the 9oing coneem basis in preparing the financial Statèments. Further details regarding th8 adoption ol the going
concern basis c8n be found in the accounting polieies.
b. Re8•NM pollcy
It is the intention of the trustées to di$lnbute an amount approximately equal lo the income each year and lo
manage held investments to provide a balance betsveen future capital appreciation and in¢ome. Roserv8s hald
at 31 May 2024 are accordingly considered appropllale and adequate to support on-going adivilies.
¢. R••ult•
Income Is received from invo$tsnenls, thg covenants and gffts from Liverymen. and from contributions from the
Turners, Compeny. The Trust 1$ administered by the Clerk lo the Worshipful Company of Tumers, whose
services are charged to the Trust at the eslimaled cost to the Worshipful Company of Tumèrs calculated by
Tel¢rence lo limè spent.
The r88ull of the Trust's actmties during the year18d lo an in¢r•a8e in the Trust's total funds tg £917.37012023'.
£874,978), reflecting the distribution of fund8 and the chang• in the valuè of investments in Ihe year.
d. M•t•rlal Snv••tm•nt• poll¢y
Investrnenl powers are sel out Tn the Trust Ooed which perniil the Trusl8e$ to purchase and disp08e cf
investments as they think fit and lo delegate disexeb'onary powers when they consider il appropriate. In support
ol Ihe Trust's objectives, the trusteès invest to a¢hiev• a balanc•d rglum betsyeen In￿Me and capital.
The perfornan￿ of thè inve8trnent portlolio h¥$ bwn satisfadory in 202314.
Struetur•, qov•rnan¢• and m•nag•m•nt
. M•thod# ol •ppolntmont or •l•ctlon of Tru•to
The management of the charity 18 the responsibilty of the Trustees who ¥re 818cted and co-opted under Ihet
tems of the TNSI deed. The TTUSteo$ sre shown on page 1.
b. OryanlJatlon•l 8tructur• and deci8ion4n•king pollci•s
The Worshipful Company of Turners charitab￿ Trust i¥ a regislered chanty INo.2673721 constituted by a Deed
of Trust dated 1 March 1974.
The Trustees delegate much of the administration of the TtU5t lo a Chanty Committee, under 8 document that
forms part of the Company Manua5 of tho Worshipful Company of Turners. The Charity Committee reports lo the
Trustees at least fwe times a year by virtue of the Committee's report to the Court of the Company on which the
Trustees sit.
Page 3

Th• Worshipful Comp•ny of Turners Charhable TN¥t
Trustee8' r•port (continued)
For the year ended 31 May 2024
Structurg. gov¢rn•n¢¢ and management Icontinued
c. Rlsk managemont
The Trustees have assessed the majof nsks lo which the Worshipful Company of Tumers Charitable Tru¥l
exposèd. in particular those related lo the operations and finance. and are satisfied that Systems and procedures
are in place to mitigate ils exposure lo the major risks.
The main fomi of finan￿al risk faced ty the Trust is that ol volatility in equity market$ and investment markets
due lo wider economic Conditions, the atblude of investors to investment risk. and changes in sentimènt
oncerning equities and within particular sedors or sub sectors.
Futur• d•volopments
The Trusloes will continue their objectives of prtynoting the craft of tuming, especially through the major
exhibition 'Wizardry In Wood, in October 202S.
8tstemgnt of Truot•M' r••pon8lblllti
The Trustees are responsible for prepanng the Tnjslees. report and the financial Statements in accordance with
applicable law and United ￿ngdorn Accounting Standards (Uniled Kingdom Generolly Accepted Accounling
Practlc•l.
The law applicable to charrties in England & Wales requires the TNslefj$ to prepare financial stalemenlg for
each financial year which give a true and fair view of the slate of affairs of the charity and of its incoming
resources and application of resources, including ils income and expenditure, for that period. In preparing thesè
financial statements, the TnJ3teeJ are required lo".
$elecl 8Uitablo a￿OUntIng polici•s and then apply them consi$tenlly'.
observe the methods and principles of the Charrties SORP IFRS 1021.,
make Ivdgements and accLJunting ests'mates that are reasonable and prudent,.
state whether applicable UK Accounting Standards IFRS 1021 have been loll¢)wed. subject to any material
departures di5dosed and explained in the financial statements.,
prepare the fin8nual statements on the going c¢n¢em basis unless it is inappropnale lo pre$ume that the
Charity wll continue in business.
The Trustees are T8sponsible for keeping adequate accounling records that are sufficient lo show and explain
the charity's transactions and disclose with reasonable accuracy at any time the financial posit+on of the chanty
and enable them to ensure that the finan￿81 5ts1emenls comply with the Charities Act 2011, the Charty
(Accounts and Reports) Regulations 2008 and the provisions of the TrLISi deed. They are also responsible for
safeguarding the assets of the charity and hence for 18king reasonable steps for the prevention and detection of
fraud and other irregularities.
Appr
edbyo
r of the members of the board of Trustees and signed on their behalf by..
Mrc Scott
Tfustee
Data..
Page 4

The Wor8hlpful Company of Tumers Charitsble Trust
Independent examlnèrf8 report
For the year ertd￿ 31 May 2024
Ind8pendent •xam5n•f S report to th• Trust99• of Th• Wornhlpful Company of Turnorg
Charitablg Tru•t Ilh• charlty'l
I report lo the charity Truste•s on my exaMina￿"0n of the accounts (rf the charity for the ye8r ended 31 May 2024.
RMpon•ibiliti04 •nd b*si8 of r•port
As the Trustees of the charity you are responsible for the weparatKsn of the accounts in accordance with the
requirements of the Chanties Act 2011 Ilhe 2011 Act,).
I report in r85pecl of my exarninabon of the charity's accounts carr¢ed out under section 145 of the 2011 Act and
in carrying out my examination I have followed the applicable Directions given by the Charity Commission under
section 14515llbl of thè 2011 Act.
Ind•p•nd•nt oxamln•rf• •t•twn•nt
Your attention is drawn to the fact that the charity has prepared the accounts in a¢cordane8 with kcounling and
Reporting by Charities.. Sialement of R￿QmMended Practieé applicable lo chanties preparing their ac¢ounls in
accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 in
PTeferenGe lo the Accountsng and Reporting by Charities.. Slalemenl of Rewmmended Pra¢ti¢e Issued on l April
2005 which is referred to in the extant regulations bul ha$ been withdrawn.
l undorsl8nd Ihgt this has been done in order for the accounts to providg a true and foir vigw in 8ccordance with
the Generally Accepted Accounting Practice effe¢ts"v¢ for ￿pOrting periods beginning on oi after 1 January 2015.
I h8ve complgted my examination. I confiryn that no matters hav• ¢omè to my attention in connection with the
examination giving me cause lo believe that in any material respect..
accounting records wom not kept in respect of the charity as required by section 130 of the 2011 Act,. or
the ac¢ounls do not accoTd with those re¢￿d8,. or
the accounts do not ¢ompty the 8pplicable requirernenls eoneeming the forni 8nd content of
accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requiiemenl
that the accounts give a 'true and lai¢ vitrw whd) is not a mattef considered as part of an independent
examination.
I have no concerns and have come across no other matters In connection wrth the examination lo which
ollenb.on should be drawn in Ihis report in ordeT to enab￿ a propw understanding of the accounts lo be reached.
This report is rnade solely to the ch8Tity's Tru51ees, 83 a body, in accordance with Part 4 of the Charities
IAccounts and Reports) Regulations 2008. My Work has been undertaken so that I might Stale lo the charity's
Trustees those matters l am ￿QUired lo stale lo them In an Independenl examiner's report and for no othar
purpose. To the fullest extent permitted by law. I do not accept or assume respon5ibil.ty lo anyone other than the
charity and the charity's Trustees as a body. for my work or for this report.
Signed.
Dated..
Stephen Moss Bsc (Honsl ACA
Kreston Reeves LLP
Ch8rtered Accountants
Statutory Audrtor
Paae S

The Wornhlpful Company of Tumers Charitsble Trust
Independent 6xamlnerfs report Icontlnued)
For th8 ytaronded 31 M¥y 2024
2nd Floor
168 Shoreditch High Street
London
E16RA
Page 6

Th• Wornhipful Company of Turnorn Charitable Trust
Statsment of flnanclal activities
For th? year•nd•d 31 May 2024
Unrn8tricted
fund$
2024
R￿trict
funds
2024
Total
funds
2024
Total
funds
2023
Not•
Incomt from..
Donations and IcgaGIQ8
Charitablè aetivilies
Investments
61.669
3.077
25.666
61,659
3,077
25.665
118,424
8.788
23,635
Total ift¢om•
80.391
80,391
148,847
Expondlturn on:
Charitable activities..
Awards and donats'ons
Support co8t8
Governance
60.937
27.548
4.740
60,937
27,648
4,740
70,937
24,518
4,920
Total exp•ndltur•
93,226
93,226
100,775
Nol l•xp•ndlturelllncom• b•for• n•t
gain$lllo•8••1 on Inv••tm•nts
Net gainslllossesl on Invèstments
{12.834)
66.226
112,834)
85,226
48.072
116.635)
Ngt mov•ment In funds
42.392
42,392
31,437
R•conclll8tlon ol fund8:
Toial funds brought forward
Nel movement in funds
870.080
42.392
4.898
874.978
42,392
843,541
31.437
Tot•1 fund• carrled forward
912,472
4,898
917,370
874,978
The St81gmenl of financial activib.es indudes all gains and losses recognised in the year.
The notes on pages 9 to 22 fomi part of these finanual st8temenls.
Page 7

The Wordhlpful Company ol Turntrrs Charltsblg Trust
Balance •hoet
As at 31 May 2024
2024
2023
Note
Fixèd a•s•ts
Inveslmenls
10
910.954
787,197
910,954
787,197
Current as8Ot4
Debtor8
Cash at bank and in hand
6.499
18,339
5,049
100.856
24,838
10S,905
Creditors.. amounts falling due within one
year
12
118,4221
118.1241
Not curr•nt a•*•ts
6,416
87,781
Total n•t a•••ts
917,370
874.978
Charlty funds
Restricted funds
Unrestricted funds
14
4,898
912,472
4,898
870.080
14
Total fundo
917,370
874,g78
The fi'nancial 8tatemen18 were 8pproved and authorised for issue by the Trustees and signed on their behatf by..
Mr C Scott
TrL¢Stee
Dale.. +.12Tr Z¥
The notes on pages 9 10 22 fomi part of thes• financi81 st8tements.
Page 8

The Wor8hlpful Company of Turn•r8 Charttsble Trust
Not•# to the flnanclal statemants
Fortho yoar gndod 31 May 2024
Genornl Infom)ation
The Worshipful Company of Tumers Ch8ri18ble Twst is a Charity registered in England & Wales. The
Charitys registered addfess is Saddlers, House. 44 Gutter Lane, London, EC2V 6BR.
Accountlng policles
2.1 Ba818 of prnparatlon of flnanclal 8tat¢m•nts
The financial stalernenl$ have ￿een prèpared in accordance wrth the Charities SORP IFRS 1021-
Accounting and Reporting by Charities.. Stalernenl ol Recommended Practice applicable lo charits"e$
preparing their accounts in accordan￿ with the Financial R8POrting Standard 8pplicablè in the UK
and Republic of Ireland IFRS 1021 leffethve 1 January 20191. the Financial Reporting Standard
applicoble in the UK and Ropublic of Ireland (FRS 1021 and the Charities Act 2011.
The finanual stal8menls have been prepared lo give a 'lrue and fair view and have departed from
the Charities (Accounts and Reports) Regulations 2008 only lo the exienl requi￿ to provide a 'lrue
and fair view. This departure ha5 involved following the Charities SORP IFRS 1021 publijhed in
Octob¢r 2019 rather than the Accounting and Reporting by Charilie8.' Slalemenl of Recommendèd
Praclice 8ffective from 1 April 2005 which h¥$ since been withdrawn.
The Worshipful Company of TurneTS Char¢tsble Trust meets the definrfcion of a public banefil entity
under FRS 102. Assets and liabilities are inilially r￿OgnIsed ai historical cost or tonsaclion value
unless otherwise staled in the rel8vanl accoun￿n9 policy.
2.2 Fund accountlng
General funds are unrestricted funds whKh are available for use 81 the discret￿n of the Trustees in
furtherance of the general obj8ctive$ of the tharsty and whith have not been designated for ciher
purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for pa￿'CUlar
purposes. The aim and use of each designated fund is sel out in the notes lo the financial
ststemeni$.
Restncted funds are funds whid) are to be used in accordanc* wth specific re3thclion$ imposed by
don0￿ or which have been raised by the charity for particylar purposes. The c08ts of raising and
administering Such funds are charged against the speafic fund. The aim and use of each restricted
fund is sel ovl in the notes lo the financial slaloments.
Investment income, gains and losses are albcated to the appropriate fund.
Page 9

The Wof5hipful Company of Turn•r5 Charitable Trust
Notss to the flnancial 6tat8ments
Fortho year•nd•d 31 May 2024
Accountlng poli¢i•s (continued)
13 Golng ¢on¢ern
The Trustees have, al the lime of approving the financial slalemenls, 8 reasonable expectstion that
the Charity has adequate Tesources lo continue in operational existence or ihe foreseeable future.
Thus. the Trustees continue 10 8dopt the goin9 concern basis of accounting in preparing the financial
statement8.
2.4 In¢om•
All income is recognised once the chanty h8$ entidemenl lo the income, rt is probable that the Income
will received and the amount of inc4)me receivable can be measured feliably.
In¢ome lax recoverable in relation to donations rewved under Gift Aid is recognised at the lime of
the donation.
Inc(yne tax recover8ble in relation to investment income its re¢ogni$ed al the time the investment
income is receivable.
2.6 Exp•ndltuM
Expenditure is recognised once there is a legal or ￿nstrUCtive obligation to Iransfor economic benefit
lo a third party, il is probable Ihat a transfer of economic benefits will bg required in settlement and
the amount of the obligèlion can be measured T81iably. Expendrture is classrfied by activity, The costs
ol tach activty are madg up of the totd of direct co$t$ and shared Costs, in¢luding support cost$
Involved in undertaking each activity.
Award¥ and donalions are payments made to third parties in the furtherance of th• tharitable
objectives ol th• TNst. They are charged in the year In which payment is made.
Expenditure on charitsbte acD"vib"e$ 1$ incurred on diredy undertaking th• activits'es which further the
charitys gbieth'ves. a8 well as any associated support costs.
Al èxpenditure is inclusive of irrecoverabte VAT.
2.6 In¥￿tMent*
Fixed assèl Inveslmenls are g fom of financial in8lrumenl and ar8 inilially r•cognised at their
transaction cost and subsequenlty measured at fair value at the Balance Sheet dale using the c105ing
quoted market price. The Statemènt of Finanaal Activrtie5 includes the net gains ond losses arising
on Tevaluation and di5poBals throughout the year.
Page 10

The Worshipful Company of Turner8 Charltsble Trust
Notes to tho financial statem•nts
Forth• year endod 31 May 2024
Accounting policie8 {continu•dl
2.7 Reall￿d and unrealb8td galns and l(w•
All gains and losses are taken lo the Stalemenl of financial activities as they arise. Realised gains
and losses on Inve51ments are Gal¢ulaied as the difference beMeen sales proceeds and their
opening carying value or their purchase value if acquired subseqvenl to tFie first day of the financial
year.
Unrealisod gain$ and losses are caleulate¢J ès the difference behveen the fair value al the year end
and their Carrying value. Realised and unreali8ed inveslrnent g8in5 and losses are combined in Ihe
Statement of financi818ctivities.
2.8 Ca•h at bank and In hand
Cash al bank and in hand indud•$ ￿$h and short-tom highly liquid investrnenl8 wrth 8 short rnalurity
of three months OT less from the date of acquisition or opening of the deposit or similar account.
In¢omo from donatlon•
Unrestrictod
fund•
2024
Total
fund•
2024
Total
funds
2023
Don4tion•
Liverymen
Gift aid
Legacies
Olh•r donations
Donation lo the Yooman fund
36,001
8,398
7,000
260
36,001
8,398
7,000
260
31,921
19,503
10,000
5,000
50,000
51,659
61,659
116,424
Totsl 2023
116,424
116,424
Page1f

The Worshlpfvl Company of TurneY8 Charitsbl• Trust
Not•s to tho flnancial stat•rn•nts
For tho y•ar •nded 31 May 2024
Income from charlL9ble actlvttles
Unmtri¢t•d
fundty
2024
Total
fund8
2024
Total
funds
2023
Sale of Turned Goods
Turning Compelity'on Sales
769
2.308
769
8,788
2,308
3,077
3.07T
8.788
Tol812023
8.788
8,788
In¥••tment In¢•m•
Unrn8trl¢t•d
fund8
2024
Tot•1
fund•
2024
Total
funds
2023
Dividends from listed investrnenl$
25,655
25,665
23,635
Tot812023
23,635
23.635
Page 12

The Worshlpful Company of Tumers Charltablo Trust
Ntst￿ to th• flnan¢ial st•tem•nts
Forth• year ended 31 May 2024
Awards and donation8
2024
2023
Th• City
Musician?, Company
United Guilds Service
Sheriffs, and Recordgfs Fund
The Children's m891￿1 Taxi Tour
Sl Paul's Foundat'on
St BartholemeW¥ Hospital
City University of London Devt Fund
City of London Garden of Remembrance
City of London Fre•men's School Priz
Spirit of Nomiandy Trust
Treloars Trust
Sub total
500
200
500
200
1,245
1.500
500
500
850
1,500
500
360
190
175
250
300
4,626
4,635
Th• Lord Mayorf• Ch•TIty
Lord Mayoes Appeal
2,000
2,000
2,000
2,000
The Lord Mayols Scholarship Fund
Sub total
4,000
4,000
Th• M••t•rf• Ch•rfty
Treloars Trust
Ma¢Millan CBncer Support
East Surrey Woodlurning
Cc£kpit Arts foi Workshop Manager
Sub total
soo
500
500
1,500
1.600
1,500
Authorl8•d by thè ¥lmon•r
Benevolence payments
1.000
7,269
Ami•d serrflc
Army 8enevol¢nl Fund
Royal British Legion
REME 8esl Armourer Prize
RAF Benevolent Fund
REME Benevolent Fund
RNRMC
565
665
500
100
1,000
1.000
1,000
1,000
1,000
1.000
100
Best RAF Trainee
Sub totsl
3,665
4,265
Page 13

Th• Wornhlpful Company of Turners Charltsblo Tvu$t
Notei to the fln4nclal statements
Forthe year ended 31 May 2024
Ch*rlty Commltt•è- other donation•
Clergy Support Trust
Fairest Isle Festival
loo
1.000
600
Wcodland Heritage
Sub total
1,700
Crnft
Burchill - luloring at Cermelile Convent
Educabon and Standards
Sub total
400
2.008
2A38
2,438
2,408
Cr•ft Awards and rnlat•d exp•ndltur•
City of London Freemen's School Prilo
REME Best Amiourer Prize
YoLtlh Training
Bodrnin & District Woodwmern for Di58bled Youth
8lackhoTse Workshops
Building Crafts College Prize
8ursary Award
Cockprt Arts
Howe Committee Expenses
Ccckpit Arts Wood Hub
Emorging Turn6rs
QEST scholarship
COUntr￿ayS Road Fa
Yeoman Scheme
8ed(el Pogeanl
Competitton Awards
Competition Expenses
250
175
100
2,500
2,300
250
5,000
5,000
250
11,426
5.735
1,649
10,000
5,555
3.260
4,500
2.369
2,188
4,000
2,874
4,300
712
4.425
9,753
498
Sl Paul's Bell Whe81 Table
Sub total
42.009
46,860
Totsl
60,937
70,937
Page 14

The Worshipful Company of Tum•rs Charltable Trust
Notos to the financial stat•m•nts
For the year •nd•d 31 May 2024
Analysis of expèndltur• on charltsble actlvltlol
Summ•ry by fund typ•
Unrtstrictod R•strict•d
fund•
fund•
2024
2024
Total
fund•
2024
Totsl
funds
2023
Charitsble ath'vrties
Support cost and govemance
60.937
32,288
60,937
32,288
70.937
29,838
93.225
93,225
100,775
Totsl 2023
99.540
1,235
100.775
An•ly81• of •xp•nditur• by *etlvltl
Grnnt
Support
lundlng of
costs and
8ctivitiU gov•maneè
Total
funds
2024
Total
funds
2023
2024
2024
Charitable activities
Support CO8ts and governance
60.937
60,937
32,288
70,937
29,838
32,288
60,937
32,288
93,225
100,775
Total 2023
70.937
29,838
100.775
Page 15

Tho Wor¥hlpful Company of Turn•rn CharTtable Tru¥t
Note8 to tho flnancial statèm•nt8
Forthg y•arend•d 31 M•y 2024
Analysi$ of exp•nditurn by •ctivitie¥ Icontlnued)
Analy$i6 of support costs
Total
fund$
2024
Tot31
funds
2023
Clerk's salary appo￿.Onrnent and other shared costs
Bookkeeping services
8ank charges
Softsvare
Printy'ng
Miscellaneous expèn8es
Auditorfs remuneration
Investrnenl advisors fees
23.968
1,621
103
365
151
YS
4,740
1.265
22.290
1,618
118
322
4,920
570
32,288
29,838
Tru•tee•' rnmun•rntlon *nd •xp•n8
During the year, no Trusloos received any remuneration, expenses or other benefrts12023- £NILI.
10.
Flxod 4$s•t Inv••tm•nts
C•8h hold
Ll8t•d
for
Inv￿tM•￿tS Inv•$tm&nt
Total
Valuation
At 1 June 2023
Addition8
Disposals
RevalUat￿n8
Movement in cash held
785.624
70.000
19271
S5,226
1.573
787,197
70,000
1927}
56,226
IS421
1542)
At 31 May 2024
909,923
1,031
910.954
Page 16

Tho Worshipful Company of Tumern Charitsble Trust
Notes to the financlal statemgnts
For th• y•ar ond•d 31 May 2024
11. D•btor*
2024
2023
Due wlthln on• year
Income lax recovera￿8
Prepayments
4.81 S
1,684
3,700
1,349
6.499
5,049
12. Cr•dltor¥: Amount• f•lllTrg du• wlthln ono y•ar
2024
2023
The Worshipfvl Company of TumeTS
Accruals and deferred income
6.613
11,809
6.223
11,901
18,422
18,124
The amount shown in the acmunls as owed by the Trust to the Company represents th• nel b81an¢e al
thè end of the finaneial year of lil Gosts incurred by the Company on beh8N of the Trust partially or wholly
offset by lill donations made by the Company to the Trust.
Page 17

The Worshipful Company of Tum•rs Charitable Trust
Not•8 to the flnan¢lal stat•m•nts
For th• y•ar end•d 31 May 2024
13. Summary of funds
SummAry of fund8- currnnt ye•r
8•laneo at 1
June 2023
Trnn8f•Ys
inlout
Gainsl Balance at
(L￿88￿)31 May 2024
InGom¢ Exyndlturn
Designated
funds
100,098
769.982
4.898
116,1461
177,0791
12.000
112.0001
96,952
816,520
4.898
General fund$
Restncted funds
80,391
66,226
874,978
80.391
(93,225)
55.226
917,370
Summary of funds- prfor y••r
Balanc• at
1 June 2022
Tran$fer$
inloul
Gasnsl
Balancè 8t
(Losses) 31 May 2023
Income Expenditure
De8ign81•
funds
General funds
Restricted funds
33,583
803,825
6,133
82,500
86,347
18,485)
191.055)
11,235)
12.500
112.5001
100,098
769,982
4,898
116,6351
843.541
148.847
(100.7751
116.6351
874,978
Page 18

The Worshlpful Company of Turnerg Charltable Trust
Notes to th• financial statements
For th• y•ar •nd•d 31 May 2024
14.
St•tement of funds
Statement ol funds - ¢urrMt y•ar
Balanc• at 1
Juno 2023
Tran8l•rs
inlout
Gainsl Balance at
Lo880s1 31 May 2024
Incom• Expgnditur•
Unrestrlcted
funds
0•8lgnat•d
fund8
Bursary Fund
Exhibition Fund
Compelilion
Fund
Yeoman Fun
8,723
16,250
6,000
14.723
16.250
12,625
62,500
{11,8461
14,3001
6.000
6,779
58.200
100,098
116,146)
12.000
96.962
G•n•ral fund•
General Funds
769,982
80,391
{77,079)
112,000)
SS,228
816.S20
Tot•1
Unr•strlct•d
nd8
870.080
80.391
193,2251
55,226
912,472
R••trfcted
lund•
8rosi¢ff Fund
4.898
4,898
Total of fund•
874,978
80,391
193,2251
55,226
917,370
Page 19

The Wornhipful Company of Tumern Charitsble Trust
Nota$ to th• financial statements
For the year ended 31 May 2024
Statoment of funds (contlnuod)
Statement of fund*- prior year
Balance at
1 June 2022
Transfers
inlout
Gainsl Balance al
{Lossesl 31 May 2023
Income Expenditure
Unr•8trfctod
fund8
De8lgnated
fund•
Bursary Fund
Exhibitson Fund
11.208
16.250
18.4851
6,000
8,723
16,250
Competition
Fund
Yeoman Fund
6.125
6,500
12,625
e2,500
62.500
33,583
62,500
18,4851
12,500
100,098
G•n•r41 lund•
General Funds
803,825
86.347
191,OS5)
112.5001
118,6351
769,982
Tot•1
Unr•Btrlet•d
fund8
837,408
148,847
199,540}
116,6351
870.080
R•8trf¢t•d
fund#
Brostoff Fund
6,133
11.235)
4,898
Total of fund8
843,541
148.847
1100.77SI
116.6351
874.978
Page 20

The Wor8hlpful Company of Tumèrn Challtablo Trust
Notes to the financial 8tstèm•nts
Forthe year •nded 31 May 2024
14. Stat•m•nt of funds Icontlnued)
Designat6d funds
The BuT5ary and Compelitson Fund comprises cash funds alIC￿ed for the biennial Bursary Award and
Turners Company's Competition.
The Exhibrtion Fund has been created lo provide funds I¢y•vards Ihe cost of tre exhibition of turning which
lakes ploce every four years.
Thg Trust cannot make provisions for these cyclieal events and so uses the rnechanism of dasignaling
fvnds.
The Yeoman Fund has been created to provide funds lo support the Yeoman Stheme. designed to help
the TumeT5 Company Yeomen build their cnre skn'lls through a Professional Develcyment Programme.
R••tricted lund•
The Brostoff Fund has been created lo allocate funding towarfs the cost of training and equipment for
th8 Ch8rills awardees al Coekpil Arts for 5 years from 2021122.
15. An•ly•i• of n•t •uots bètw••n fund•
An•ty#l• of n•t •u•ts b•tw••n fundi - current perlod
Unr•¥tricted Rogtrfct•d
fund¥
fund•
2024
2024
Total
funds
2024
Fix¢d asset investsrents
Current assets
Creditors due within one year
910,954
19.940
118,4221
910,9S4
24,838
118,4221
4,898
Tot•1
912,472
4,898
917,370
Analys1• ol n•t a88•ts between funds - prlor p•rlod
Unrestricted
fvnds
2023
Restricted
fun¢Js
2023
Total
fund$
2023
Fixed asset investrnents
Current assets
Creditors due within one ygar
787.197
101,007
(18,124)
787,197
105,905
118,1241
4,898
Total
870,080
4.898
874,978
Page 21

The Worshipful Company of Turnern Charitable Trust
Notes to the financial stalemènts
Forth• year ended 31 May 2024
16.
Ro18ted party tran$actionB
The Trust is charged an apPropr￿te proportion of salary costs and sh8red costs by the Worshipful
Company of Turners. DuTing thè year Ihe recharged costs were £25.589 12023. £23.9081. The Trustees
are rnember5 01 the Court of the Worshipful Company of Tumers. At the balance sheet date the Trust
owed tho Company £6,61312023.' £6.223}.
During the year Trustees made donations under ordinary rna￿et condition5 to the Trust.
17.
Conlrolllng party
Ther8 is no uttimale controlling paty.
Page 22