Charlty rggl8tratlon number: 275080 The Broderer's Charity Trust Annual Report and Finan¢lal Statem•nts For the Year Endèd 5 Awil 2021
Tho Brod•r•rfs Ch•rlty Tntst Reference and Administrative Oetails Tn5Stee3' Report 2103 Statement of Trustees. RespJnsibiIeS Independent ExamSnerfs Report Statement of FinancAal AGtivi Bala Sheet es lo the Finanaal Statements 81013
The Brod•rerfs Charlty Tnmt Reftrgnce and Adminlstratlve Detslls Chalrnian P E Lumley (Past Master) S A C Bonnington (Court Member) Mrs E M Efvin (Court Member) R S T Gunter Imaslerl Mrs L A Palmer (Court Member) J M Neill {Court Member) J H I111am50n lkn"verymanl Secfttary Brigadier W Aklridge CBE Prlncipal oifKe Orchard H¢yJse Vicarage Lane Steeple Ashton Trowbndge V4111s BA14 6HH Charfty Rogistration Numb•r 275080 IndgP9nd•nt Examiner HJWHamwi West Wng, Beedings Castle Nutboume Lane Pulborough West Sussex RH20 2HS Bankers Uoyds Bank PIC 154 Watton Road East Molesey Surrey KT8 OKP Investment Managorn Investec Wealth & Investment 2 Gresham Street London EC2V 7QP I Pwjet
To. Report The Trustees PSent their annual rewt together wth Ihe finar1 sL*ements of the Charity foi the year ended S April 2021. ObJectlves and actlvltles Objects and aims The Charity is constiluted by a Trust Deed dated 29th Decernber 1977, and Tts objects are to pay or apply the income of The Trust Fund. and to pay or apply capital. for such charitable purposes. subjecl to the terms of the Twst Deed. or as the Ccwrt ofthe Company may from time to tirr direcL The main charitable objectives are.. a) The advancement of education of Perso desiriThJ"lo be apprenticed in the * of eMt1ery through a recognised edu¢ats"onal Chafity. bl To award prizes in conne¢bon wth examinatK>n$ ¢y work of apprentw or persons undergoing training for any recognised art or profe5Si cl To make donations to any registe Charity having a direct connection to the art of embroidery or those wrth the need lor assistance embroidery related requirements. d) To make dstionS to any registered Charity and in parti¢ular to charthes nominated by the Lord Mayor of the City of London for the time being together charbtw having a direct conntttton with the Cty of London. Publk benefft The Trustees confimi that they have CoMled with the requirements of sertion 4 of the Charities Act 2011 to have due regard to the publ benefft guidance putAished by the Charity Commission for England and Wales. Grant making policios It18 the policy of the Trustees to make grants in a¢dance wilh Tt8 obiectsves. The Trustee$ confimi that they have refetred to the guKYance contained in The Charity Commission's general guidance on publi¢ benefft when reviemng the Trusfs aims objecti.ves and in anning fvthre activitiès and setting the grant making policy for the year. Slructurg. govgrnance and management Recrultment andappointment of Tntstees The Trustees are all members of the Livery of The tI[ShIP1 Company of Broderers and meet three timès a year P E LuMY is a Past Master of the Company and R S T Gunter is the current Master." S A C Bonnington. E M Efvin, L A Palmer and J M Neill are Court Assistants and J H Williamson is a veryman. Day lo day adMinistratn is responsibility of the Secretsry. Appointment of Trustees i8 governed by the Trust Deed of the Charity. The Company is authorised to appolnt new Trustees to fill vacancies arising through the reyignation or death d an existing Trustee. Inductlon and NnIng of fnths New Trustees wll have been INerymen of The Worship1 Company of Broderers for a number of years prior to being invited to bewme a Trustee and are aware of the purpose of the charity. Not V+ithstsnding this the Chairman and Secretary will ptovide them Imth historical infomiation and spend time as part of their induction process induding IMIn9 them to attend Trustees meetings before fomially accepts'ng the positL.
The Gharlty wag Set by Ihe Company ot and the TIt, eornpiwTrJ Past P E Lum. C¢Mt Istants S A C Bor91. R S T Gurrtar, Mr8 L A rrtters and to eM¥dwoppkalh2M knr war am 8pryowale kn MMunl¥j ¥ny rlsk totr• TrLMtltsnd Rt8k RrIS rthd * kastw•. Chanty's grant rnthw pr¢4r8mmè. Dlthng bl• y•¥tho Charty tknaikn• of£18.(O) fivm the Joknt venrg pshl • off21.29) to Ihe af L. - 2q L or&1 ¥y•J bBhattty." PJ_TL
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Indepermknt Ex•rninerfs Rewrt C Thè A¢ctyJnts {Accrual8 Ac¢<xw)ts) Rewrt to the trust88S Thè Brc¥Jerefs Chity Twst Charity NuN)er. 27180 On untS forthe year ended 5 April 2021 Set out on pages 6t013 Ro¥pective responsibilities The chari$ TrLtstees are re$sIble for thè prèparakn of the acctyjnts. The Charity's of trust••s and ¢xaminer Tru51ees considerthat an a111 is not required for this yw {uThYer sectk)n 144121 ofthe Ch8ribes Ad 2011 (the 2011 Ad) arKI t an 1TrjerdenI examination is needed. 11 1$ my resFWit¥lty to ex8mirE awjunts under 5e(Iw 145 ofthe 2011 to f¢41tyw the LAid down in the gener81 Dlrections glven by the Chartty Comrrission uJKler section 14515)(bl ofthe 2011 Act. and to st8te thellw parfirAA¥ matters Iw¥e lo my ottth. Basis of independent ?mIn¥8 8lat•m•nt My examination was camed ¢xrt in a¢xorfance general Directions given by the Charity CommissTron. An exarrination indudes a rèviert ofthe )untIng records kept by the tharity and a pariSOn of the a¢o)unts wesented with Ihose records. It also indudgs (X)MTalKn of 8ny unusual items or d1sdogJ in the accx)unts and seeking exp18nations ttE trustees n(nIng 8ny suth matters. prctgjures undertaken do not provide 11 the evidence that would te requirgj in an wdTt. and cthgequerfy no opinion is given as to whether the accounts present a kn arKJ f¥ir v/ and the rert is limited lo those rnatte set J1 in the statement below. lThleperMlent examins In connec1K ilh my ellation. no mth has come to my attention.. alat•ment which gives me reasonle cause to believe that. in any material r¢spect. the requiremenls.. to keep aco)unbng recnrds OCrdartt vnth sedion 130 of the 2011 Act; arbj to kxepe 8cxx)unts whith &)rd •Ath the a¢xounting reIdS and (x)mpty wilh the applicatAe requirements CC*mirj the fomi and contenl of aOunts set out in the Chaities (AntS and Reports) Regulations of 2fK18 otlw than any requirement that th& accounts gNe a'tru& and foirf view whth is not a matter c))nsidwed as part of an indeFen(nt exaninats". have )1 met., or (21 lo whth. in my w"nion. 8ttenh.C sky be itrawn in c¥der to enable Sign&1 Naft James Harman Rdevant professional qualification or body Institute ofCh8rtered Acccrtnts in EnglaThJ & Wales Ad(kess We$t Wng. B88thrvJs Casu• Nutboume Lane Pulborough West Sussex RH20 2HS Page S
The Brod•r*s Charfty TruBt statement of Financial Actl¥lli•s For th• Y••r Endod S April 2021 unrestric R8strlctsd Tolal funds 2021 Totsl 2020 Not? Incom• and End0Onts from: Donations and legacies Investment income 53.721 53.721 34.679 T(rtal inco Exp9nditurg on: Charitable activities Total gxpgndilure 57.069 25,000 82.069 54,995 Nel income 18,410 6.590 3,950 (Losses) gains on investments 185.659 185.659 Net movement in funds 204.069 (25,Crf)O) 179.069 (93,5091 Transfer betsleen funds {10.959} 10.959 RKonGiliation of funds Total funds brought foNRrd 670.090 709,131 802.640 Total fvnds carried forward 11 863.200 25.000 709 131 l of the Charty's athvrtie5 derive from continuing operations durirvJ the above tsvo wods.
A• •tSAwll IQ21 n7 351 588 938 Cash At bwk 10.479 108 698 121034 118,t41 131.513 120 193 24000 39.041 Total fw¥trs 11 688 200 70D 131 on vj on th&rl*4irty: ICl¥knwn) S A C 8onnln0thi TnLbt••
Brrthrne$ Charity Tnwt Notss to the Financlal Statemonts For the Yur Ended S Aprll 2021 1 Accountlng policitis Summary of slgnlficant accountlng pollclas and k&y I¢1119 osllmatys The financial ststements have been prepared on a going concem basis. The Trustees assess whether the use of going concern is aL)proprk8le and have identified no material uncertainties related to events or Conditions that may cast signlficanl doubt on the ability of the charity to conb'nue as a going concern. The Trustees make this assessment in resFe¢t of a penod of 12 months from the date of approvd of the Financial Statements. Statgmont of compllan The accounts have been prepared under the histori¢al cost ¢onvention and in a¢¢ordance 7Mth the Financial Reporling Standard applicable in the UK and Republic of Ireland IFRS 1021 and Accounting and Reporting by Chartbes Standard of recommended Practice applicable to charitie$ preparing their counts in accordance wrth FRS 102 (ChareS SORP IFRS 102)) issued by the Charity commission aNJ applicable with effect from 1 January 2015. Ba$1$ of prgparation The Broderer's Chanty Trust npets the definihon of a publ benefft entity under FRS 102. Assets and liabilities are initialty recognised at historical cost or transa¢Aon value unles$ othemse stated in the relevant accounting policy notes. Golng concern The Trustees consider that there are no material uncertainties about the Chanty's abllrty to continue a5 a going concern nor any signfftant aa$ of UnrtaInty that affect the ca1ng value of assets held by the chlty. In¢¢m• and •ndovmi•nts All income is recognised once Charrty has entitlement to the income, rt is probable th* the income 11 be reiVed and the arnount of the income receivth can be measured reliabty. Donatlons and lfjgaGioS Donations are recognised lthen the Chanty has been notified in wrrbng of both the amount and s&tdement date. In the event that a donab.on is subject to condiknons that require a level of performan by the Ghamty before e Charity is ented to the funds. th¢ income is deferred and not renISed until either those condftions aTr fvlty mel or the fUlment of those conditions is wholly ilhin the control of the Charty and it is probable that these eonditions will be ftjlfilled in the reporting period. Investmont Inci Dividends are recognised once the theTry has been declared and notification has teen receNed of the dividend due. ExndItUre All expenditure is recognised once Ihere is a kgal or constructNe obligation to that expenditure, it is profiaf)le setuemenl is required and the amount can te asUred reliabty. All costs are allocated to the applicable expenditure heading that aggregate Milar costs to that cate9w. ere costs cannot be fjirectty attributed to partirAJlar headings they have been all(tated on a ba$L8 nsistent with the use of resources. P4ge 8
The BrodprBrf5 Charity Tat Nolos to FlnaTrclal Ststements For th? Yr Ended S April 2021 Gov•mance costs These include the costs attribulable to the Charity's mpliance n$tUtional and ststulory requirements. Valu• Add8d Tax Value Added Tax is not recoverabte by the Charity and as SLKh is included tyi the relevant costs in the Statement of Financial ACti¥e5. Flxed assèt inv•stmonts Fixed a35et inveslmenls, other than programme related investrnents, are included at market value al the balance sheet dale. Realised gains and losses on investments afe calculated as the drfference betsveen sales proceeds and their market value at the start of the year, or their subsequent Cost. and are charged or tredrted lo the Statement of Finanrial Activities in the period of disposal. Unrealise<l gains and losses rerxesent the movw)ent in mathet values during th8 year and are credite(l or clwrged to the Statement of Financial Acti¥e$ base<l on the market value at the year end. Fund structure Unrestricted income funds are general furKl$ thal are awlablg f use * the Trtee$, discrelion In furtherance of the objectives of the Charity. Designated funds a unrestricted funds set aside for specific purposes at the discretion of the Trustees. Restricted income funds are those donated for use in a partKul¥ area or for speafic purposes, the use of which 18 restricted to that area or purpose. 2 Income from donallons and 18gacios Restrlct•d Totsl funds 2021 Totsl 2020 Deslgnated General Donations from indivKluals 53,721 53,721 34.679 Page 9
The Brererfs Charity Tntst Motss to tho Financial stst8Mts Forthe Year End8d S A1 2021 3 Investment income Vnre$tri¢ted funds Total 2021 Total 2020 Genornl Interest recervable on bank deposits Dividends from fixed asset Investrnts 37 24.229 24,266 21,758 21.758 21.758 4 Exwditurn on ¢haritabl• a¢tivitlos Unrostr1¢1od Nole funds Re5trictad Totsl Totsl funds 2021 2020 Generdl Grant fvnding of activrbe8 Govemano costs 14 47.383 9,686 25,000 72.383 49,275 5.720 25.000 82 069 54 995 Grdnt Funding Govgmanco Total Activity costs 2021 Total 2020 Administration Costs Accountancy fees Independent Examineffs fee Investment AdSer$, fees Grants 3.600 3,600 2,160 2,160 2.160 750 750 1.100 3.176 3,176 2.460 47,383 24.275 9 686 57 069 29 995 Page 10
Th• Brodor•trs Charrty Trt Notes to the Flnanclal Statom8nlS For th• Year End•d S Awil 2021 6 TntO•S romun•ration and 0Xns•S The Trustees represent the Key ManagenEnt of the Charity. The Trustees give their time generousty and without remuneration or benefiL 7 Taxatlon The Chafity is a registered Charity and therefore exempt from taxaticm. 8 Flx•d assgt inv8stm8nts 2021 2020 Investments. at Market Value 777.351 588.938 Totsl Llstod Inv•stm•rrts Cost or Valuation At 6 Aprfl 2020 Revaluation Additions Disposals 588.938 185.659 42,754 At 5 April 2021 777.351 Net book val At 5 Ar1 2021 777 351 At S April 2020 588,938 P4e 11
Th* Brodorerfs Ch•rity Trust Notss to thg Finan¢lal Stat8ments For tho Yr Endod 5 Awil 2021 g Dgblorn 2021 2020 Dividends due Gift Aid recoverable 5,137 4,406 9,543 5.259 5.220 10,479 10 Crnditors: amounts falllng duo vAthin on• ywr 2021 2020 Accruals Sundry ereditors 2.910 4,382 11.320 11 Funds 8•lancè at 6 Incoming R•sourcos Balance at S April 2020 rnsourcos expondèd April 2021 Unr•Btri¢ted funds General 647,4LK) 75.479 168.0281 654,851 Designated Movement in Investments 5,365 5.365 17 325 185 6S9 Total unrnstrlct•d funds 670,090 261,138 (68.028) 872,094 39,041 10.959 Totsl fund5 709 131 272 097 888,200 12 Anatysis of not ass•ts Totsl funds Fixed asset investments Current assels Current liabifthes 777,351 118,141 Total net assets P•3e 12
The 8rodoreVs Charity Tru¥t N¢)to5 to th• Flnanclal St•t6m•nts For the Year End•d S April 2021 13 Analy$l$ of r*t funds At 6 Aprll 2020 At 5 April 2021 Cash fl¢>w Cash at bank 121,034 112,436) 108,598 14 Analysis of grnnts Grnnts lo institutions 2021 2020 The Grange Centre Fine Cdl Work Lord Mayols Appeal The Cty & Guild$ London Institute (Including piize) United Guilds, Service Associated Companies Joint Venlure Contributic Museum of London Royal School of NeedIevrk British Lung Foundath)n Sl Hilda's East Sheriffs. & Recorder's fvnd IrOn"dge Gorge Muswm Amy Benevolent fund Appleshaw Parish Church Hand & Lsxk St John Baptist Holburne Museum Royal Charter- Broderers Company Royal British Legion AntK4uaries Society Treloar Trust Shakespeare's Globe Mrs Sarah Helen Hulme {8radford Sdents} Drapers, Company (Livery Krtchen Initiative) Central Regimental Bank. Royal Irish Uncashed grants Total grants paid from unrnstricled funds 5,999 5.000 3,000 1,000 1.810 3,000 3,000 1.000 175 18,000 3,250 6,400 1,000 2,000 6,400 500 1,000 500 1,000 1,000 1,500 1,000 440 250 700 1,000 1.000 I,0 250 434 1,000 300 2,500 1,000 Royal College of Art Total grants pald fr rnstrlct8d funds 25.000 Total grnnts pald from r•strictod and unrostrfct8d funds 49.275 P•Je 13