The Worshipful Company of Bowyers' Bowyers Charitable Trust Charity Registration number 270702
Income and Expenditure Accounts and Statement of Assets and Liabilities
31st December 2020
The Worshipful Company of Bowyers' Bowyers Charitable Trust Registered Number 270702
Report of the Trustees for the year ended 31st December 2020
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1 The overall object of the charity is to raise funds from the members of the Bowyers' Company by way of donations, gift aid, legacies and gifts for the purpose of donating funds to charitable causes in accordance with the Company's charitable giving strategy, as approved by the Trustees from time to time. The Trustees' current strategic focus is on donations that will make a significant positive difference of outcome in these four main areas:
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(a) for the benefit of educational opportunity;
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(b) for the constructive benefit of disadvantaged persons, preferably young and London-connected and ideally with some archery element to the benefaction;
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(c) for the benefit of the Company’s military affiliations’ benevolence; and
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(d) for the benefit of the relevant charitable causes of the Lord Mayor and other City of London civic bodies.
At the discretion of the Trustees, the charity may also donate funds to other selected charitable causes of some relevance to the Bowyers' Company where a significant positive difference of outcome can be foreseen. A special provision is agreed by the Trustees to donate £1,000 in total over each Master’s two-year period of Mastership in the name of the Company to a charitable cause or causes of the Master's own choosing.
- 2 The capital fund set up in 1999 now stands at £110,978. The purpose of the capital fund is to provide for the accumulation of capital, the income from which is to be used for charitable donation purposes. The original intension was to build a fund of at least £100,000.
The trustees agreed, in 2017, that while any surplus charitable income would continue to be reinvested in the capital fund, there was no longer a specific requirement to grow the fund above the level of £100,000 and that the investment income from the fund as from January 2017 could be used to increase our charitable giving. In 2020, £4,000 was transferred from the Capital Fund to the General Fund.
The Trustees are minded for the future that consideration could additionally be given to making exceptional disbursements from some of the capital in excess of the level of £100,000, although no such consideration is yet being given.
- 3 The Trustees of The Bowyers Charitable Trust are the holders of the office of Master, Upper Warden and Renter Warden at any one time. The current Trustees are:-
Master - Mr David Laxton - Upper Warden Mr Nigel Heilpern Renter Warden - Alderman Sir David Wootton
- 4 The Receipts and Payments account for the general and capital fund for the year ended 31st December 2020 are shown on pages 3 to 5 attached and the Statement of Assets and Liabilities at 31st December 2020 is shown on page 6 with a note on page 7.
Signed
David Laxton - Master
Nigel Heilpern - Upper Warden
Signed Signed Alderman Sir David Wootton - Renter Warden
Fosters Lodge Duck Street Date 26th August 2021 Sutton Veny Warminster BA12 7AL
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Independent Examiner's Report to the Trustees of The Worshipful Company of Bowyers' Bowyers Charitable Trust
I report on the accounts of the Trust for the year ended 31st December 2020 which are set out on pages 3 to 7.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under section 43(2) of the Charities Act 1993 (the Act) as amended by s28 of the of the Charities Act 2006 and s144(2) of the Charities Act 2011 Act) and that an independent examination is needed.
It is my responsibility to:-
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1) Examine the accounts (under section 145 of the 2011 Act);
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2) Follow procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act);and
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3) State whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the accounts.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
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(1) Which gives me reasonable cause to believe that, in any material respect, the trustees have not met the requirements to ensure that:-
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(a) proper accounting records are kept (in accordance with section 130 of the 2011 Act);and
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(b) Accounts are prepared which agree with accounting records and comply with the accounting requirements of the 2011 Act; or
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(2) to which in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Wandle House Associates 47 Wandle Road Croydon CR0 1DF
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The Worshipful Company of Bowyers' Bowyers Charitable Trust Receipts and Payments Account (General Fund) Year ended 31st December 2020
| Receipts Donations to Fund Personal Bowyers Company Freemen Fund Raising Deposit account interest Income tax repayment Transfer from Capital Fund Payments Donations (see list attached on page 5) Surplus Transfer to Capital Fund Balance brought forward Balance carried forward |
2020 £ 29,984 100 1,225 - 12 7,500 4,000 42,821 30,250 30,250 12,571 - 12,571 23,776 36,347 £ |
2019 £ 21,650 100 1,325 1,479 13 5,391 3,500 |
|---|---|---|
| 33,458 | ||
| 29,575 | ||
| 29,575 | ||
| 3,883 500 |
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| 3,383 20,393 |
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| 23,776 £ |
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The Worshipful Company of Bowyers' Bowyers Charitable Trust Receipts and Payments Account (Capital Fund) Year ended 31st December 2020
| Receipts Contributions by Bowyers Transfer from General Fund Proportion of Company surplus Income Banks Investments Total Receipts Expenditure Investment management charges Surplus (Loss)/Gain on disposal of investments (Loss)/Gain on Currency Transfer to General Fund Balance brought forward Balance carried forward |
2020 £ - - - 12 3,512 3,524 3,524 1,186 2,338 (12,604) - (10,266) 4,000 (14,266) 125,244 110,978 £ |
2019 £ 500 500 |
|---|---|---|
| 1,000 | ||
| 31 5,344 |
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| 5,375 | ||
| 6,375 1,150 |
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| 5,225 (385) (8) |
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| 4,832 3,500 |
||
| 1,332 123,912 |
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| 125,244 £ |
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The Worshipful Company of Bowyers' Bowyers Charitable Trust Donations Year ended 31st December 2020
| 338 Squadron RAFAC ABF The Soldiers Charity Brentwood Sea Cadets British Blind Sports Archery Cavell Nurses Trust Central Foundation Girls' School GAC Scaramouche Goodenough College Help Musicians UK Kings College, London Lord Mayor's Appeal Mercian Regt. Benevolent Fund Royal British Legion Sherriffs' & Recorders' Fund Sick Children's Trust Suited & Booted Centre The Drapers' Company - The Livery Kitchen Treloar Trust United Guilds Service West London Mission |
2020 £ 1,000 - 1,500 - 2,000 4,000 - - - 6,000 - 7,500 750 - 1,000 3,000 1,000 1,000 - 1,500 30,250 £ |
2019 £ 1,000 1,000 1,500 2,000 - 1,500 2,000 1,000 150 6,000 1,500 6,000 - 250 3,500 1,000 - 1,000 175 - |
|---|---|---|
| 29,575 £ |
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The Worshipful Company of Bowyers' Bowyers Charitable Trust Statement of Assets and Liabilities As at 31st December 2020
| Fixed assets Investments Note Page 7 Current assets Debtors Bank accounts Broker's accounts Net current assets Less Creditors Net assets Represented by General Fund Capital Fund Total funds |
2020 £ 95,101 7,500 39,661 5,513 52,674 450 52,224 147,325 £ 36,347 110,978 147,325 £ |
2019 £ 107,040 8,579 29,550 3,851 |
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| 41,980 - |
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| 149,020 £ |
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| 23,776 125,244 |
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| 149,020 £ |
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The Worshipful Company of Bowyers' Bowyers Charitable Trust Investment Schedule Year ended 31st December 2020
Note:- Investments
| Holding Number Brought Forward Abcam Ord Alibaba Group Holdings 18 Alphabet Inc Capital Stock 3 Amazon Com Inc 2 Apple Inc Com ASML Hldgs Aviva, 25p 1,300 City of London Inv Trust .25p 1,950 Diageo Ord Edinburgh Inv Trust 25p 1,300 Genus Ord 10p Halma Ord 10p HSBC ord US$.50 650 Illumina Inc 19 Intuitive Surgical 7 LionTrust Asset Management 595 Marlborough 2,925 Marstons ord 07375p 2,775 Microsoft Corp Murray Income Trust 25p 890 Nestle chf.10 95 Ocado Group 220 On the Beach Group Ord Persimmon 240 Polar Capital FundsEmerging 730 Procter & Gamble 80 Royal Dutch Shell .07 Euro 255 Schroder Oriental ord 1p 2,250 Scottish Mortgage Inv Trust 734 Securities Trust of Scotland 1p 5,375 Unilever ord .031111p 170 Vodafone .2095238 US$ 2,536 |
Cost Number Brought Bought Forward £ 220 2,838 3,055 3 2,810 1 11 12 3,668 5,876 115 6,064 85 150 4,643 3,460 2,990 2,971 4,824 4,075 20 5,834 4,566 2,768 1000 5,225 4,440 4,418 5,499 4,563 3,965 5,988 4,643 7,857 107,040 |
Cost Number Bought Sold 3,038 2,851 1,650 2,911 3,887 1,300 1,950 3,443 1,300 3,422 3,388 650 2,925 2,775 2,944 3,032 255 2,536 30,566 |
Cost Proceeds Gain Number Cost Sold Loss Carried Carried Forward Forward 220 3,038 18 2,838 6 5,906 3 4,460 11 2,911 12 3,887 3,668 3,122 (546) 5,876 6,892 1,016 115 3,443 6,064 5,794 (270) 85 3,422 150 3,388 4,643 2,406 (2,237) 19 3,460 7 2,990 595 2,971 4,824 4,089 (735) 4,075 960 (3,115) 20 2,944 890 5,834 95 4,566 220 2,768 1,000 3,032 240 5,225 730 4,440 80 4,418 5,499 3,552 (1,947) - - 2,250 4,563 734 3,965 5,375 5,988 170 4,643 7,857 3,085 (4,772) 42,506 29,900 (12,606) 95,101 Value at 31 December 2019 |
Cost Carried Forward 3,038 2,838 5,906 4,460 2,911 3,887 3,443 3,422 3,388 3,460 2,990 2,971 2,944 5,834 4,566 2,768 3,032 5,225 4,440 4,418 - 4,563 3,965 5,988 4,643 |
Market Value 3,410 3,064 7,687 7,146 4,270 4,264 3,310 3,567 3,674 5,141 4,188 7,735 3,253 7,405 8,189 5,031 3,725 6,641 4,942 8,140 5,884 8,911 11,099 7,466 |
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| 95,101 | 138,142 | ||||
| 133,698 |
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