Registered Charity Number: 274573
THE WORSHIPFUL COMPANY OF CONSTRUCTORS CHARITABLE TRUST
TRUSTEES’ REPORT
AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
THE WORSHIPFUL COMPANY OF CONSTRUCTORS CHARITABLE TRUST
CONTENTS
| Page | |
|---|---|
| Reference and administrative information | 1 |
| Trustees’ Report | 2 – 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 11 |
THE WORSHIPFUL COMPANY OF CONSTRUCTORS CHARITABLE TRUST
REFERENCE AND ADMINISTRATIVE INFORMATION
Trustees
Dr Paul Shepherd (Chair) Douglas Barrat (Deputy Chair) Michael Gordon Ankers (Secretary) Robert Heathfield Victoria Russell Edward Philip Willmott Terry Withers (Appointed – 04.12.2025)
Charity Registration Number
274573
Date of Registration
25 November 1977
Registered Office
Foxhills Elvetham Road FLEET Hampshire GU51 4QW
Independent Examiner
Bowdon Accounting Services Bartle House Oxford Court Manchester M2 3WQ
1
THE WORSHIPFUL COMPANY OF CONSTRUCTORS CHARITABLE TRUST
TRUSTEES’ REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
The Trustees present their annual report and financial statements for the year ended 30 September 2025. These have been prepared in accordance with the Charities Act 2011, the Charities SORP (FRS 102), and the Trust’s governing document.
Highlights of the Year
-
The Trust continued to focus on its primary remit: advancing education and research in the construction industry, while maintaining support for the City of London, Armed Forces, the Church, and hardship relief.
-
Total grants awarded during the year amounted to £64,454, a notable increase compared with £52,419 in 2024.
-
The largest sector for giving remained Education and Training, with significant support directed to scholarships and apprenticeships.
-
The Trust benefited from strong fundraising efforts and generous donations from members, including Gift Aid recoveries, which together contributed £49,891 in income.
-
Investment performance remained robust, with income of £26,624 and a net revaluation gain of £63,319, despite ongoing market volatility.
-
The Trust’s scholarship programme transitioned further towards targeted support for apprentices and school children, delivered through accredited external bodies, building on the successful partnership with Primary Engineer.
-
Trustees continued to apply rigorous due diligence to grant applications, ensuring that funds were directed to projects with measurable impact.
Strategy and Grant-Making Policy
The Worshipful Company of Constructors Charitable Trust is registered as a charity in England and Wales (No. 274573).
The charity’s objects are:
-
To advance education, training and research in the construction industry, including awarding scholarships, grants, and distinctions.
-
To relieve hardship among members of the Company or their dependants.
-
To pursue other charitable purposes as determined by the Trustees.
The Trustees met regularly during the year to review grant applications, monitor investment performance, and oversee governance. Investment funds continue to be managed by Brewin Dolphin, with regular reviews of risk profile and ESG credentials.
2
Financial Review
-
Income: Total income for the year was £77,399 , comprising donations, fundraising, Gift Aid, and investment income.
-
Expenditure: Total expenditure amounted to £82,655 , including grants of £64,454 , audit fees of £ 4,740 , investment management fees of £9,940 and independent examiner’s fee of £720 .
-
Investments: The portfolio closed at £1,150,660 , including the bank balances held by investment advisor of £4,267 , reflecting strong market performance and careful stewardship.
-
Funds: At year-end, total funds stood at £1,162,326 , comprising unrestricted general funds of £1,108,128 and restricted funds of £54,198 (the Sir Ian Dixon Fund and the Scholarship Fund).
-
Reserves: The Trust maintains healthy reserves, ensuring resilience against fluctuations in income and enabling sustained grant-making capacity.
The Trustees consider the financial position to be sound, with sufficient liquidity to meet commitments and flexibility to respond to future opportunities.
Risk Analysis and Management
The principal risk remains a reduction in income from fundraising and member donations. The Trust mitigates this risk through:
-
Maintaining adequate reserves and liquid investments.
-
Diversifying income streams between donations, fundraising, and investment returns.
-
Regular monitoring of investment performance and market conditions.
A detailed budget is agreed annually, and real-time management information ensures Trustees are fully informed. The Board’s collective expertise across construction, finance, law, and governance provides strong assurance in managing risks.
Statement of Trustees’ Responsibilities
The Trustees are responsible for preparing the Trustees’ Report and accounts in accordance with applicable law and UK accounting standards. They must ensure the accounts give a true and fair view of the charity’s affairs, apply suitable accounting policies consistently, and safeguard the charity’s assets.
3
Conclusion
The year to 30 September 2025 has seen continued generosity from members and strong investment returns, enabling the Trust to increase its grant-making impact. The Trustees remain committed to advancing education and training in the construction industry, while supporting wider charitable causes aligned with the Company’s values.
On behalf of the Board of Trustees:
Dr Paul Shepherd CBE Chair of Trustees
Philip Willmott Treasurer
Date: ___
4
THE WORSHIPFUL COMPANY OF CONSTRUCTORS CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2025
| Note Income from: Donations and gifts Investments 2 Total Expenditure on: Investment management fees Grants 3 Audit fee Other costs Total Net gain/(losses) on investment assets 2 Transfer between funds Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds £ - 27,508 27,508 (9,940) - (4,740) (3,521) (18,201) 63,319 (14,563) 58,063 1,050,065 1,108,128 |
Designated funds £ 49,891 - 49,891 - (64,454) - - (64,454) - 14,563 - - - |
Restricted funds £ - - - - - - - - - - - 54,198 54,198 |
Total funds 2025 £ 49,891 27,508 77,399 (9,940) (64,454) (4,740) (3,521) (82,655) 63,319 - 58,063 1,104,263 1,162,326 |
Total funds 2024 £ 61,800 23,865 85,665 (9,128) (52,419) (4,740) (2,915) (69,202) 93,018 - 109,481 994,782 1,104,263 |
|---|---|---|---|---|---|
The notes form part of these financial statements
5
THE WORSHIPFUL COMPANY OF CONSTRUCTORS CHARITABLE TRUST
BALANCE SHEET AS AT 30 SEPTEMBER 2025
| Fixed assets Investments 6 Current assets Debtors 7 Cash at bank and in hand Creditors: Amounts falling due within one year 8 Net current assets Total net assets Funds of the charity Restricted funds 9 Unrestricted funds Designated 10 General 10 Total funds Note |
2025 £ 1,146,393 1,146,393 8,035 15,196 23,231 7,298 15,933 1,162,326 54,198 - 1,108,128 1,162,326 |
2024 £ 1,033,014 1,033,014 7,556 70,271 77,827 6,578 71,249 1,104,263 54,198 - 1,050,065 1,104,263 |
|---|---|---|
Approved by the Board of Trustees and signed on its behalf by:
….............................. ….............................. Dr Paul Shepherd CBE Philip Willmott Chair Trustee Date …............... Date …...............
The notes form part of these financial statements
6
THE WORSHIPFUL COMPANY OF CONSTRUCTORS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
1 Accounting policies
1.1 Basis of preparation
The accounts have been prepared under the historical cost convention, with items recognised at cost or transaction value unless otherwise stated in the relevant notes to the accounts.
The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities applying the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), effective from 1 January 2019.
The accounts depart from the Charities (Accounts and Reports) Regulations 2008 only to the extent necessary to provide a true and fair view. This departure arises from the application of the above-mentioned Statement of Recommended Practice, which supersedes the version referred to in the Regulations and which has since been withdrawn.
The charity constitutes a public benefit entity as defined by FRS 102.
The trustees have assessed the charity’s ability to continue as a going concern and consider that there are no material uncertainties related to events or conditions that may cast significant doubt on its ability to do so.
1.2 Income recognition
Income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Donations are recognised when the charity has been notified of the amounts and settlement date. Donations include tax recoverable where applicable.
Investment income is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the income paid into the income account held by the investment managers.
1.3 Expenditure recognition
Expenditure is recognized when a liability is incurred. Contractual arrangements and performance related grants are recognized as goods and services are supplied. Grant payments are recognized where there is a current or constructive obligation to pay. Resources expended are allocated to a particular activity where the costs relate directly to that activity and include attributable VAT when this cannot be recovered.
1.4 Investments
Listed investments are a form of basic financial interest and are initially recognized at their transaction value and subsequently measured at their fair value at the balance sheet date using the mid- market value.
1.5 Funds structure
Restricted funds are subject to specific conditions as to how they may be used as determined by the donor. The purposes and uses of the restricted funds are set out in the notes to the accounts.
Unrestricted funds comprise funds which can be used in accordance with the charitable objectives at the discretion of the trustees. Designated funds comprise unrestricted funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the accounts.
7
THE WORSHIPFUL COMPANY OF CONSTRUCTORS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
2 Income from investments
| Income from listed investments Interest receivable Grants payable Grants to institutions £ 2025 64,454 2024 47,919 |
Total 2025 £ 26,624 884 27,508 Grants to individuals £ - 4,500 |
Total 2025 £ 22,636 1,229 23,865 Total £ 64,454 52,419 |
|---|---|---|
3 Grants payable
Details of institutional grant recipients are disclosed in the Trustees’ Report.
4 Trustees' remuneration and expenses
None of the trustees, nor any persons connected with them, received any remuneration, expenses, or other benefits from the charity during the year ended 30 September 2025.
5 Key management personnel
The trustees are considered to be the key management personnel of the charity. The charity had no employees during the year.
8
THE WORSHIPFUL COMPANY OF CONSTRUCTORS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
6 Fixed asset investments
| 2025 £ Market and Net book value as at 01 October 2024 1,033,014 Capital invested 60,000 Management fees paid (9,940) Net gain/(loss) on revaluation 63,319 Market and Net book value as at 30 September 2025 1,146,393 All investments are listed investments.They are held to provide investment income to the charity Geographic analysis of investments: 2025 £ UK Fixed interest 136,678 UK Equities 168,731 UK Unit Trusts - UK Cash 81,817 Global Corporate Bonds 15,006 Global Index-Linked Bonds 16,102 Global Sovereign Bonds 22,133 Overseas Unit Trusts 129,713 Europe 62,185 North America 360,357 Asia 68,077 Japan 31,905 Commodities 35,485 Cash Product & Pending Dividends - Other 18,204 1,146,393 7 Debtors 2025 £ Other debtors 3,768 Bank balances held by investment advisor 4,267 8,035 8 Creditors 2025 £ Other creditors - Accruals 7,298 7,298 |
2024 £ 949,039 - (9,043) 93,018 1,033,014 2024 £ 138,871 192,650 21,373 24,671 15,325 - - 116,891 60,345 305,667 63,865 27,813 24,438 20,877 20,228 1,033,014 2024 £ 3,768 3,788 7,556 2024 £ - 6,578 6,578 |
|---|---|
9
THE WORSHIPFUL COMPANY OF CONSTRUCTORS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
9 Restricted funds
The charity’s income funds include restricted funds, comprising unexpended balances and donations and grants held on trust for specific purposes. These restricted funds consist of the Sir Ian Dixon Fund, which is applied to provide resources for the Sir Ian Dixon Scholarship, and the Scholarship Fund, which was established to hold surplus donations raised in connection with the “No Strings Attached” appeal.
Current year:
| Sir Ian Dixon fund Scholarship fund Prior year: Sir Ian Dixon fund Scholarship fund |
Balance 01.10.2024 £ 50,057 4,141 54,198 Balance 01.10.2023 £ 54,557 5,641 60,198 |
Income £ - - - Income £ - - - |
Expenditure £ - - - Expenditure £ (4,500) (1,500) (6,000) |
Gain/ (loss) £ - - - Gain/ (loss) £ - - - |
Transfers £ - - - Transfers £ - - - |
Balance 30.09.2025 £ 50,057 4,141 54,198 Balance 30.09.2024 £ 50,057 4,141 54,198 |
|---|---|---|---|---|---|---|
10 Unrestricted funds
The charity’s income funds include a designated revenue fund, which has been set aside by the trustees from unrestricted funds to meet the charity’s current and future commitments.
Current year:
| Designated funds Donations and awards General funds |
Balance 01.10.2024 £ - 1,050,065 1,050,065 |
Income £ 49,891 27,508 77,399 |
Expenditure £ (64,454) (18,201) (82,655) |
Gain/ (loss) £ - 63,319 63,319 |
Transfers £ 14,563 (14,563) - |
Balance 30.09.2025 £ - 1,108,128 1,108,128 |
|---|---|---|---|---|---|---|
10
THE WORSHIPFUL COMPANY OF CONSTRUCTORS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
10 Unrestricted funds (continued)
| Prior year: Balance 01.10.2023 £ Designated funds Donations and awards - General funds 934,584 934,584 Analysis of net assets between funds Current year: Investments Current assets Creditors: amounts falling due within one Prior year: Investments Current assets Creditors: amounts falling due within one |
Income £ 61,800 23,865 85,665 year year |
Expenditure £ (46,419) (16,783) (63,202) Unrestricted funds £ 1,092,195 23,231 7,298 - 1,108,128 Unrestricted funds £ 978,816 77,827 (6,578) 1,050,065 |
Gain/ (loss) £ - 93,018 93,018 Designated funds £ - - - - Designated funds £ - - - - |
Transfers £ (15,381) 15,381 - Restricted funds £ 54,198 - - 54,198 Restricted funds £ 54,198 - - 54,198 |
Balance 30.09.2024 £ - 1,050,065 1,050,065 Total 2025 £ 1,146,393 23,231 7,298 - 1,162,326 Total 2024 £ 1,033,014 77,827 (6,578) 1,104,263 |
|---|---|---|---|---|---|
11 Analysis of net assets between funds
11
Registered Charity Number: 274573
THE WORSHIPFUL COMPANY OF CONSTRUCTORS CHARITABLE TRUST
TRUSTEES’ REPORT
AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
THE WORSHIPFUL COMPANY OF CONSTRUCTORS CHARITABLE TRUST
CONTENTS
| Page | |
|---|---|
| Reference and administrative information | 1 |
| Trustees’ Report | 2 – 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 11 |
THE WORSHIPFUL COMPANY OF CONSTRUCTORS CHARITABLE TRUST
REFERENCE AND ADMINISTRATIVE INFORMATION
Trustees
Dr Paul Shepherd (Chair) Douglas Barrat (Deputy Chair) Michael Gordon Ankers (Secretary) Robert Heathfield Victoria Russell Edward Philip Willmott Terry Withers (Appointed – 04.12.2025)
Charity Registration Number
274573
Date of Registration
25 November 1977
Registered Office
Foxhills Elvetham Road FLEET Hampshire GU51 4QW
Independent Examiner
Bowdon Accounting Services Bartle House Oxford Court Manchester M2 3WQ
1
THE WORSHIPFUL COMPANY OF CONSTRUCTORS CHARITABLE TRUST
TRUSTEES’ REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
The Trustees present their annual report and financial statements for the year ended 30 September 2025. These have been prepared in accordance with the Charities Act 2011, the Charities SORP (FRS 102), and the Trust’s governing document.
Highlights of the Year
-
The Trust continued to focus on its primary remit: advancing education and research in the construction industry, while maintaining support for the City of London, Armed Forces, the Church, and hardship relief.
-
Total grants awarded during the year amounted to £64,454, a notable increase compared with £52,419 in 2024.
-
The largest sector for giving remained Education and Training, with significant support directed to scholarships and apprenticeships.
-
The Trust benefited from strong fundraising efforts and generous donations from members, including Gift Aid recoveries, which together contributed £49,891 in income.
-
Investment performance remained robust, with income of £26,624 and a net revaluation gain of £63,319, despite ongoing market volatility.
-
The Trust’s scholarship programme transitioned further towards targeted support for apprentices and school children, delivered through accredited external bodies, building on the successful partnership with Primary Engineer.
-
Trustees continued to apply rigorous due diligence to grant applications, ensuring that funds were directed to projects with measurable impact.
Strategy and Grant-Making Policy
The Worshipful Company of Constructors Charitable Trust is registered as a charity in England and Wales (No. 274573).
The charity’s objects are:
-
To advance education, training and research in the construction industry, including awarding scholarships, grants, and distinctions.
-
To relieve hardship among members of the Company or their dependants.
-
To pursue other charitable purposes as determined by the Trustees.
The Trustees met regularly during the year to review grant applications, monitor investment performance, and oversee governance. Investment funds continue to be managed by Brewin Dolphin, with regular reviews of risk profile and ESG credentials.
2
Financial Review
-
Income: Total income for the year was £77,399 , comprising donations, fundraising, Gift Aid, and investment income.
-
Expenditure: Total expenditure amounted to £82,655 , including grants of £64,454 , audit fees of £ 4,740 , investment management fees of £9,940 and independent examiner’s fee of £720 .
-
Investments: The portfolio closed at £1,150,660 , including the bank balances held by investment advisor of £4,267 , reflecting strong market performance and careful stewardship.
-
Funds: At year-end, total funds stood at £1,162,326 , comprising unrestricted general funds of £1,108,128 and restricted funds of £54,198 (the Sir Ian Dixon Fund and the Scholarship Fund).
-
Reserves: The Trust maintains healthy reserves, ensuring resilience against fluctuations in income and enabling sustained grant-making capacity.
The Trustees consider the financial position to be sound, with sufficient liquidity to meet commitments and flexibility to respond to future opportunities.
Risk Analysis and Management
The principal risk remains a reduction in income from fundraising and member donations. The Trust mitigates this risk through:
-
Maintaining adequate reserves and liquid investments.
-
Diversifying income streams between donations, fundraising, and investment returns.
-
Regular monitoring of investment performance and market conditions.
A detailed budget is agreed annually, and real-time management information ensures Trustees are fully informed. The Board’s collective expertise across construction, finance, law, and governance provides strong assurance in managing risks.
Statement of Trustees’ Responsibilities
The Trustees are responsible for preparing the Trustees’ Report and accounts in accordance with applicable law and UK accounting standards. They must ensure the accounts give a true and fair view of the charity’s affairs, apply suitable accounting policies consistently, and safeguard the charity’s assets.
3
Conclusion
The year to 30 September 2025 has seen continued generosity from members and strong investment returns, enabling the Trust to increase its grant-making impact. The Trustees remain committed to advancing education and training in the construction industry, while supporting wider charitable causes aligned with the Company’s values.
On behalf of the Board of Trustees:
Dr Paul Shepherd CBE Chair of Trustees
Philip Willmott Treasurer
Date: ___
4
THE WORSHIPFUL COMPANY OF CONSTRUCTORS CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2025
| Note Income from: Donations and gifts Investments 2 Total Expenditure on: Investment management fees Grants 3 Audit fee Other costs Total Net gain/(losses) on investment assets 2 Transfer between funds Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds £ - 27,508 27,508 (9,940) - (4,740) (3,521) (18,201) 63,319 (14,563) 58,063 1,050,065 1,108,128 |
Designated funds £ 49,891 - 49,891 - (64,454) - - (64,454) - 14,563 - - - |
Restricted funds £ - - - - - - - - - - - 54,198 54,198 |
Total funds 2025 £ 49,891 27,508 77,399 (9,940) (64,454) (4,740) (3,521) (82,655) 63,319 - 58,063 1,104,263 1,162,326 |
Total funds 2024 £ 61,800 23,865 85,665 (9,128) (52,419) (4,740) (2,915) (69,202) 93,018 - 109,481 994,782 1,104,263 |
|---|---|---|---|---|---|
The notes form part of these financial statements
5
THE WORSHIPFUL COMPANY OF CONSTRUCTORS CHARITABLE TRUST
BALANCE SHEET AS AT 30 SEPTEMBER 2025
| Fixed assets Investments 6 Current assets Debtors 7 Cash at bank and in hand Creditors: Amounts falling due within one year 8 Net current assets Total net assets Funds of the charity Restricted funds 9 Unrestricted funds Designated 10 General 10 Total funds Note |
2025 £ 1,146,393 1,146,393 8,035 15,196 23,231 7,298 15,933 1,162,326 54,198 - 1,108,128 1,162,326 |
2024 £ 1,033,014 1,033,014 7,556 70,271 77,827 6,578 71,249 1,104,263 54,198 - 1,050,065 1,104,263 |
|---|---|---|
Approved by the Board of Trustees and signed on its behalf by:
….............................. ….............................. Dr Paul Shepherd CBE Philip Willmott Chair Trustee Date …............... Date …...............
The notes form part of these financial statements
6
THE WORSHIPFUL COMPANY OF CONSTRUCTORS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
1 Accounting policies
1.1 Basis of preparation
The accounts have been prepared under the historical cost convention, with items recognised at cost or transaction value unless otherwise stated in the relevant notes to the accounts.
The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities applying the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), effective from 1 January 2019.
The accounts depart from the Charities (Accounts and Reports) Regulations 2008 only to the extent necessary to provide a true and fair view. This departure arises from the application of the above-mentioned Statement of Recommended Practice, which supersedes the version referred to in the Regulations and which has since been withdrawn.
The charity constitutes a public benefit entity as defined by FRS 102.
The trustees have assessed the charity’s ability to continue as a going concern and consider that there are no material uncertainties related to events or conditions that may cast significant doubt on its ability to do so.
1.2 Income recognition
Income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Donations are recognised when the charity has been notified of the amounts and settlement date. Donations include tax recoverable where applicable.
Investment income is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the income paid into the income account held by the investment managers.
1.3 Expenditure recognition
Expenditure is recognized when a liability is incurred. Contractual arrangements and performance related grants are recognized as goods and services are supplied. Grant payments are recognized where there is a current or constructive obligation to pay. Resources expended are allocated to a particular activity where the costs relate directly to that activity and include attributable VAT when this cannot be recovered.
1.4 Investments
Listed investments are a form of basic financial interest and are initially recognized at their transaction value and subsequently measured at their fair value at the balance sheet date using the mid- market value.
1.5 Funds structure
Restricted funds are subject to specific conditions as to how they may be used as determined by the donor. The purposes and uses of the restricted funds are set out in the notes to the accounts.
Unrestricted funds comprise funds which can be used in accordance with the charitable objectives at the discretion of the trustees. Designated funds comprise unrestricted funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the accounts.
7
THE WORSHIPFUL COMPANY OF CONSTRUCTORS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
2 Income from investments
| Income from listed investments Interest receivable Grants payable Grants to institutions £ 2025 64,454 2024 47,919 |
Total 2025 £ 26,624 884 27,508 Grants to individuals £ - 4,500 |
Total 2025 £ 22,636 1,229 23,865 Total £ 64,454 52,419 |
|---|---|---|
3 Grants payable
Details of institutional grant recipients are disclosed in the Trustees’ Report.
4 Trustees' remuneration and expenses
None of the trustees, nor any persons connected with them, received any remuneration, expenses, or other benefits from the charity during the year ended 30 September 2025.
5 Key management personnel
The trustees are considered to be the key management personnel of the charity. The charity had no employees during the year.
8
THE WORSHIPFUL COMPANY OF CONSTRUCTORS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
6 Fixed asset investments
| 2025 £ Market and Net book value as at 01 October 2024 1,033,014 Capital invested 60,000 Management fees paid (9,940) Net gain/(loss) on revaluation 63,319 Market and Net book value as at 30 September 2025 1,146,393 All investments are listed investments.They are held to provide investment income to the charity Geographic analysis of investments: 2025 £ UK Fixed interest 136,678 UK Equities 168,731 UK Unit Trusts - UK Cash 81,817 Global Corporate Bonds 15,006 Global Index-Linked Bonds 16,102 Global Sovereign Bonds 22,133 Overseas Unit Trusts 129,713 Europe 62,185 North America 360,357 Asia 68,077 Japan 31,905 Commodities 35,485 Cash Product & Pending Dividends - Other 18,204 1,146,393 7 Debtors 2025 £ Other debtors 3,768 Bank balances held by investment advisor 4,267 8,035 8 Creditors 2025 £ Other creditors - Accruals 7,298 7,298 |
2024 £ 949,039 - (9,043) 93,018 1,033,014 2024 £ 138,871 192,650 21,373 24,671 15,325 - - 116,891 60,345 305,667 63,865 27,813 24,438 20,877 20,228 1,033,014 2024 £ 3,768 3,788 7,556 2024 £ - 6,578 6,578 |
|---|---|
9
THE WORSHIPFUL COMPANY OF CONSTRUCTORS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
9 Restricted funds
The charity’s income funds include restricted funds, comprising unexpended balances and donations and grants held on trust for specific purposes. These restricted funds consist of the Sir Ian Dixon Fund, which is applied to provide resources for the Sir Ian Dixon Scholarship, and the Scholarship Fund, which was established to hold surplus donations raised in connection with the “No Strings Attached” appeal.
Current year:
| Sir Ian Dixon fund Scholarship fund Prior year: Sir Ian Dixon fund Scholarship fund |
Balance 01.10.2024 £ 50,057 4,141 54,198 Balance 01.10.2023 £ 54,557 5,641 60,198 |
Income £ - - - Income £ - - - |
Expenditure £ - - - Expenditure £ (4,500) (1,500) (6,000) |
Gain/ (loss) £ - - - Gain/ (loss) £ - - - |
Transfers £ - - - Transfers £ - - - |
Balance 30.09.2025 £ 50,057 4,141 54,198 Balance 30.09.2024 £ 50,057 4,141 54,198 |
|---|---|---|---|---|---|---|
10 Unrestricted funds
The charity’s income funds include a designated revenue fund, which has been set aside by the trustees from unrestricted funds to meet the charity’s current and future commitments.
Current year:
| Designated funds Donations and awards General funds |
Balance 01.10.2024 £ - 1,050,065 1,050,065 |
Income £ 49,891 27,508 77,399 |
Expenditure £ (64,454) (18,201) (82,655) |
Gain/ (loss) £ - 63,319 63,319 |
Transfers £ 14,563 (14,563) - |
Balance 30.09.2025 £ - 1,108,128 1,108,128 |
|---|---|---|---|---|---|---|
10
THE WORSHIPFUL COMPANY OF CONSTRUCTORS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
10 Unrestricted funds (continued)
| Prior year: Balance 01.10.2023 £ Designated funds Donations and awards - General funds 934,584 934,584 Analysis of net assets between funds Current year: Investments Current assets Creditors: amounts falling due within one Prior year: Investments Current assets Creditors: amounts falling due within one |
Income £ 61,800 23,865 85,665 year year |
Expenditure £ (46,419) (16,783) (63,202) Unrestricted funds £ 1,092,195 23,231 7,298 - 1,108,128 Unrestricted funds £ 978,816 77,827 (6,578) 1,050,065 |
Gain/ (loss) £ - 93,018 93,018 Designated funds £ - - - - Designated funds £ - - - - |
Transfers £ (15,381) 15,381 - Restricted funds £ 54,198 - - 54,198 Restricted funds £ 54,198 - - 54,198 |
Balance 30.09.2024 £ - 1,050,065 1,050,065 Total 2025 £ 1,146,393 23,231 7,298 - 1,162,326 Total 2024 £ 1,033,014 77,827 (6,578) 1,104,263 |
|---|---|---|---|---|---|
11 Analysis of net assets between funds
11
Independent examiner's report on the accounts
Section A Independent Examiner’s Report
Report to the trustees/ members of
The Worshipful Company of Constructors Charitable Trust
On accounts for the year 30/09/2025 Charity no 274573 ended (if any) Set out on pages 1-2
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 30/09/2025 .
- Responsibilities and As the charity trustees of the Trust, you are responsible for the preparation basis of report of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried 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 145(5)(b) of the Act.
Independent I have completed my examination. I confirm that no material matters have examiner's statement come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
-
accounting records were not kept in accordance with section 130 of the Act or
-
the accounts do not accord with the accounting records
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Date: 06/02/2026 Signed: Name: Adeel Sahi Relevant professional ACCA qualification(s) or body (if any): Address: Bowdon Accounting Services Bartle House, Oxford Court, Manchester M2 3WQ
1
October 2018
IER
Section B Disclosure
Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
Give here brief details of any items that the examiner wishes to disclose .
N/A
2
October 2018
IER