Chlty registrntlon numb•r. 275080 The Brodererfs Charity Trust Annual Rtyort and Flnanelal Stat•mènts Forth• Y•ar Endod 5 Aprfl 2022
The Brod•rerf$ Charlty Ttusl Contsnts Reference and Administralive De18ils TnJstee8' ReF¥St 2to3 Stslement of Trustees, ResrKithilili8S Independent Examirs Rewi Statement of Financia A(*vibes B818nc8 Sheet 8t014
The Brodernrfs Charlty Trust Reference and Admlnlslralfve D•tsll¥ Chalmwi P E Lrn IP88t Marl TrustO08 S A C Bonnitwn (Court Ments) Mrs E Efvin (Court Member) R S T Gunter (Past Masterl {Liveryman) (kn 5Th022) Mrs L A PaknEr (Court Memtwl J M 11 IC(yJrt Member) M Palmer.E(Wmbe ILN8rymanl {from W41221 J H W711iamson (Lweryman) Briga(58rW Ahidg8 CBE Principal ITh• Vicarage La Steele Ashton TruwbrK1ge Its BA14 6HH Charlty Roglstratlon Numlw 2750eii Indepenrknt ExIn¢r HJWHam West n9. BWJl Casffje bwh West s RH20 2HS Bankers LW Bank Pk 154 wall Road &Jrrey KT8 OKP Invgslec Wèalth & In4*stm Ln EC2V 7QP
Th• Br18$ Chxlty Tnt Trustees. Report The Trustees present I1r annual re[ wth the finanrial slatements of thg Charity for the year ended 5 April 2022. Obj•ctiv•s and activitl8s Obi8cts andain The Charfty is (X)nst[ed by a Trust D88d dat&1 29th Decamber 1977. and ils ol'ects arg to pay or appty the income of The Trust Fund. aThJ to pay or aPFAy c4Ntal. suth tharitatAe purpos8$. sl'eCt to the tem8 of th8 Tnjst Doed, or as the Cwt ofth8 Company may from time lo time direcL al The thancèment of education of desiring to be apwenliced in the art of embrothy through a recognised edational Charity. b) To award prizes in conneth.on with examinations or of apenti or perS uThJergoing trwning for any re(x)gni8ed art cf profeswon cl To make donatiorL8 to any Tegister&J Ch81ity hawng a dwe(a ojnnth to the art of èmtxoldery or those wlh the need for assistance embroidwy rekted requirements. dl To make donatiorts to any register Charity arKJ in partkwlar lo charthe8 nomateAI by the Lord Mayor of tho City of Lonth)n fc the trn Ling Icgether wilh ctstli8s havirwJ a direct (tIOn with the Cty of London. Thè Trustees rA)nfimi that tw hav8 (X)Mpl with t r8quirements of se(on 4 of the Charibes Act 2011 to have due regard to the pull guthKe wbjished by thg Charity Commission for EWnd and Wajes. Grantmaklngpollcl•s It is the poltcy of the Trustees to make grants in 7Mth fts Tnjslees confirm Ihat they have r8ferred to thè guidance ojntsined in The Charfty ComissKx)'8 general guidan¢x on publ befft when revitrg the Tnjsfs al ofy'ectives and in planning future actts 8n(18ettiNJ the grant mthng policy forts y88r. The Tnjsteas are all mÈmbers of the LNery of The Worshipful c74)anY of Brc¥Jerers and net three times a year. P E Lumley and R S T Gunter are Past Masters of the Company" S A C Bonningtgn, E M Elwn, L A Palmer and J M Neill are Cwrt Asistants and J H Williamson and M PaJmer-Edgecumbe are Livarymen. Day to day adrrinlstra1 is the r•spLThitihty of the Secretary. Appoinbmenl of Trustees 15 g¢)vemed by the Tnt Deed of the Chanty. Thè Company is authoris&J to appoint now Trustees to fil vacano6s •Ing tlwh the renal)n death ofan exisb.ng Truste8. New Trustees wll have been livTh The Worshipful Company of BrrMler8rs fc a numbw of years prior lo Irvj inMted to beo)ma o Tn45tee and are avtarE of the purpose cl Ihe charity. Not thstsnding this the Chamian and Secr8tsry PrOde them with historical inf0mtIOn and spend time as part of their indu(( prctess iTwJLMng inwb"ThJ to atterbj TrLLSte8s meetirgs bef¢x6 formalty accepting the p0sOn.
Th8 Trusteas 8dministsr the Charty in aC0)rd %%ith the Trusl Dep4J. R•lation$hlps wlth r•latod partles Relat•d Partlo$ The Charity Wds Set up by Worshipful Company of Brodwers and the pyesenl Trustees. (x)mprising Past Master P E Lumley and R S T Guntsr (kn 514r221. Cwrt Asnts S A C Bonninglon. Mrs L A Pdmer, J M Nwll and Mrs E M Emn: J H WIUiamwJn arnl M Palw-Edgecumb8 (from 5141221 ar& members of that Company. Th8 TnJste8s have assessed ts JOr risk£ to the Chaiity is exrM)s&l, in partthlw those relalgd to the operations ar¥J finance of th8 Charrty and are satisfied th ad8qU8te systems and procedures arè in F4ace to mitiqate ey¥osure to tIKe ks. The nare ofthe rS and the associated syste a1 [adur$S are reguLgrly revith¥&l. - The Trustees meet at $1 three tirres a year to rwe4V financial rtI)n of the TF¥JsI aNI other matters and to consider 8pplicatK)ns for grants . The Trust8ès have r8vEwed tha Trust's own intemal finan&al c(#tro& arKI arfy Satisf th* Ihese are appropnate in rnlniming any risk to the Trust fvnds. . Th8 Trust88s have prred a risk regster tP+ith aTrJ inwls or each rfsk identir&. Tr Flsk Register is reviffived al $1 annuaNy. The Trustees conslder the unreslrictgj General FuThJ. wthich amounted to £887,981 al 5 April 2022, to be primarity an investment fvrKI hehj to werale and [mIe a measure of stability to thè Chaitys wt making pr¢gnThe. The annual Teport was apwDv&J ty the TnJst89s ofthe Ch8rity ( half ty. and signed on ts P LuThey Chairman
Law applicable to taritw in ErKJlarKI and Wales wulres the Tntste&8 to wep8re aCrUts for the finawal year which grve a true ar)d fair vthv of the Charitsbk Trust's fiarla1 ivtbes duriThJ the year of its finala1 p)sthon at ts erNJ of thg year. In pyepamg the aCcnts that giv8 a true and fair wew. tre Trust shId frAkM best pra(IKe and: obseThe the methods arKI wlncip in the Charits SORP. makejudgements arKt estimates thal are reascxth wutht.. stale vknether 8pplic4trAÈ UK knwnting Stsndards and Statements of Remmended Pract have been followed. sut4.ecl to any trthrial departur8s disdosad and expLoined In the finandal stalem8nts', ar¥J prepare the finanoal on the gorNJ concwn bass Lmloss rt is Inwoprpte to presume that the chaiil3kAe company will CtinUe in tsIneSs. In order ihal the financi81 sL8tenwnts gve a and fair have departèd from the Charities IAco)unts and Reports) Regulab"ons 2LX)8 to the ext1 requir9d lo provide a true and f&r view. This departure has invdved knOting aThY Rep%)rtir¥J ty Charrbes.. Statement of Recomm8ndsd Practice apk%icable lo charities preparing their accounts in aco)rdance wi(h the Finaroal RetM)rt Standard applicatAe in the UK IFRS 11r21 published in 2014 rather than the AUnting and RepDrtirvJ by Charities.. StateThnt of Ra(xXm Pra(aiee eff&Ne from 1 Pw'l 2[)5 which has sinca b The Trustees are resFKThth for maintsining kyoper accounting recyyds thal disdose with reasonable acwracy at any tirr the finanaal prtIOn of the TrLBts. TW are also re$[K$1e for safeguarding th8 8ssets of the Trusts and tthrg reasonat48 St fc the tfftention detection of fraud and other irTegularilies. Approved by th8 Trustees of the Charity ( and svjned on its behalf by.. Chairman
IntyTrd•nt Examlnges R•port On Reporttothts Irustees of The Brodererfs Ch•ity Trusl Chhyty Nurrthr 279)80 On forthe year ended 5April 2022 Sel out on pages 6t014 R••pKtlv• rn8ponslbllilie8 Tho ChlS Trust8•s are responstAa forts weparalion ofthg ¥xounts. The Charity's 01¢rt••$ and •Mminer Trustees con¢er that an audrt is [t reqllirwj for this y82r lundgr sectth 144(21 of the Charth¢s ArA 2011 2011 A} and that an irnlwd8nt 8xaminath li wled. is my res[#1Y to gxamTnE the 0)lts under 5ecl)n 145 Oft 2011 A to lollow Ihe yc<dures laKI in the gèner Di0n8 sl¥¢n by thè Charty Commtsthn urKJ8r sectkn 145(Sllbl Dfthg 2011 Art aThJ to Slatè whether parbfatsr rnatters have o)me to rny atttiOn. Basls of Indopgndont g¥amln•¢ 8tstsmènt Commission. An exam¥Hlion incaKles a of thg aL>7Junting reo)rds kept by the charty and a ¢x¥npaiMn crfthe acmunts yewted those fecords. 11 also inclu¢s Gwsideratic•i of any unusual rdems or disdtsswes in the axounb and seeking eWartior from tsustees r1j any sjxh nwtte¢B. The procgjures undertaken tlu TrJt prOVe all the eVidèr thalwryJd be qUired in an audit. and rtseqUeny opinion is given as to whetherthe a¢xaiur)ts present a and fairMth¢ and the Tewt is limited to those matiar5 Set in the statemert Independent •¥amine# In c•nnectbJn ry exarriThtbJn. no rnattw has b) my atienll)n'. twhith W$able caus8 lo b8fkne Ih¥L irt ary matiial rtSPBC( th to keep a0?)kng r8<x)rds in aCr3)rdar w6th 130 ofthe 2011 Att and ) ac£ounts wtrich the aLxtyJntirvJ recL¥ds and (¥Jrnpty with the appIa1)le Nwrements (XXLcemiTrJ the fomi and conie6rt ofa(UMJnts s8t out in the Charknes IAc£ourts and Rer)rtsl R•gulatth)r of 2C#)8 other Ihan any requirementlhatthe accounts gNe a'iiue and fairf thew wl*ch is Dot a rnaiter consbjered as part of an 121 to whith, fft my o&wiion. attentk)n $Uk1 te dr8wn in orderth etWAe 8 &gnod llKY Dale.. Relevant profe88kl•l qu•llllcallon or body Inslthrte ofCharterBd Pmjmlants in ErvJlaTrJ & Wales Pulbomugh RH20 2KS Page 5
Tho Brod•rerfs Chwity Trust For th• Year Endod 5 Awll 2022 Unrestri¢ted Rostrided Totsl funds funds 2022 Total 2021 Income and Endonts frun: Donalwjns and leges 38.997 38,997 23.092 53.721 21.758 Totsl incon Expenditurg ¢)n- Charitable activitte8 57.lJ)6 10.(KJO 67.006 82.069 T(rtal expen(titure 57. 10.0(M) 67.OC6 2.069 Nel incclne ILrAssesl pns on Irwestmts Nel movement in ftjnds Reconcillation of funds Tcrtal fvnds brcght forward Totsl frjnds carried foThvard 19.698 19.698 1&5.659 24.781 {10.rnJ) 14,781 179.(9 863.2Tr) 25.(MXI 888.2W 709.131 887.981 15.CW 2.981 888,2CQ 11 of the Chwty's ¥111&5 tlerivefrom CAYMInn9 opw8t1 during the above fv40 poriods.
The Brod9rfs Charfty Tntst As at 5 Aprll 2022 2022 Flxed as8•ts Investm8nts Current as8•ts Debt5 Cash at bar 16,095 .057 112.152 9.543 108.598 118,741 Credltors: Amounts falling du• 4th1n on• y• Ngt current ass•ts 10 .292 104.8eiJ Y2.981 888.2CQ Fund$ of th• Charity: Rutri¢t¢d funds 15.1)XJ 25.000 Unrnstrlcted inciMn• fund$ Unrestricted funds 887,981 863,2 Total funds 11 9)2.981 888.2 financid statenwnts on F49g88 6 to 14 aFyoved ty fhe Tnes, afftl authoriJ for tssue arKI on thew behalf ty.. Trustee (Chain) S A C Bonnington Twslee
Tl 8rod•r•rfs Charlty Trust Notes totho Financlal Statoments For thg Year Endod 5 Aprll 2022 1 A¢¢ounling pollcl•s Summary of signMeant accountlng polldes and kéy a¢¢ountlng estlmates The finanaal StsleMts have been prepared on a gng concem bs. The Trustees asses5 whether Ihe use of gobng concem i8 appropriate and have thntifil no lia1 uncerta'nties related lo events or corKJitions that may cast gnificant d(¥Jbt cn thè M"lrty of the charty to cntinUe as a going concem. The Trustees makg this assessment i) w8sFwt of a FWKXJ of 12 Tth$ the dale of approval of the Financial Ststement& Statsment of compliance The accounts have iwn wepar&J uThJer thg htslL¥i(xl c05t c(wtion in axxKdan(8 7MtI) the Financkil Rgwting Standard appIlble in the UK and RepubEic of Ireland IFRS 1021 arid AccountiNJ and RgWrting by Charities Standard of rn¥ended akviKable to charibes preparing ther a¢¢ounts in accordance wth FRS 102 {Chan"ties SORP IFRS 10211 isy by the Charrty ¢ommi5sh)n and appkcalAe th efft frrth 1 January 2015. Basis of pr8pardtlon The Brodererfs Charity Tnjst definitTh ofa bw8fft entity uTrJer FRS 102. A88ets and liabilities are initially recognised at historic81 cost cf tranwtKX) vdue lesS otheNise staled in the rejovant accounting w4bCy not8s. Going concern Th8 Trustees consKl•r thal thwe are no rnat8rial un(rtainties th8 Charity's 8bilty to CL¢nlinue as a n9 c0M nor any signrfwl wea5 of uncertainty that affec4 the carrywig value of assets by the Charity. Incom• and endovfftwnts l inix)me is recojnised onc8 the Charity ha5 entiuement to the Ir)rr. rt is that the irK¥Jme VAII be received and the am01 ofthe rwxvable can be mearat1 rdk8. Donations and1ogacl•8 Donations are rwnised when th8 has notified in writiThJ of both tlw amount and setdernent dale. In the event that a doNqtion is suty'ect to cldtI10ns thal require a level cl performance by the Charity befc¥e the Charity i¥ entiued to the fuThJs. the Inoyne is deferred and not rec4Jgnised until either thc6e ¢cdonS luty rreL or th& fuNTrwnt of Ihoso conditK)ns is whojty thin the control of the Charity it is kwr)alJe that these corKlitiors wll be fvffilw in the reportirvJ Investment Incom• Dividends are re¢ognisgJ orTh th8 dNi(*nd has been d4ared aTrJ Tr)tificaUon has recafved of the drvhdend ijue. Expenditur• All expanditurè is recognised orKe there is a 1894 or 1xtrUthe otligation to that expenditurè. It obable setY8rnent is required aThJ the anUnt (gn Thwsured reliably. AJI cosis are allocatsd to the aOi¢able expgndiknre heading that a93regate similar costs to that catewy. Where Costs (8nrw)t be direcuy attr1tred to headww they have allo¢atwJ on a ba515 nsIstsnt with use of resources.
Not•s l• th? Flnan¢lal &Xatem For tho Y•ar Ended 5 1 2022 Governance olsts These indijde the CA)sts 8ttribLrtabie to ChariW$ c(larte with c£Jnstutal aThJ stalukny r8quirements. Value Add•d Tax Value Added Tax is not recOVe bythe Charity ¥KI as 15 Indled in th8 rdevant o)sts in the Fixed investnts, other than proJrammB lated investsw)ts. are i(1j al market value at the bala sh991 de. Re81ised gans and losses on investrnents arè 1lated as the drfferere between sales IxoCJS and thelr market value 8t the start of the year, or their suttsequenl eost, and are charged or fle(led to the Stalementof cIal in lh8 P8ricMI of dispx)sa. Unrealised gains and losses represatt the rrw)vement in market ¥aeS durtng the year and are credited or Charg to the Statement of Fin4 A(Xivrties based on the market vae al the year end. Fund stru¢ture Unrestricte(l iTwxJrr£ fiJNts a gera1 fimds that aT8 avdi18bie for use al th8 Trues' dlscretion rn furtherarTh of the (*iectives ofthe Charrty. Designated funds we Unrestric )lJnds aside for wrposes at tho distttititin of th8 Twstees. Re8tricted ino)me funds we t donat•J tr use in a parti1 aTra or for speryfic purposes. the use crfvthith B restr to that area or wrpo8e. Rwlrl¢tsd Total Designat•d General fund¥ Totsl 2021 38.997 53 721 38.997 53 721 38.997 P•38 9
For th¢ Yw Ended S Awll 2022 3 Investm•nt In¢omg funds Total 2022 2021 Interest rgceivable on bank depOts Dwidends from fix wet inveslm 23.OW2 23.W2 23.092 21,758 4 Expenditsr¢ ¢Jn charltsblo a¢ilv Restricted T¢)lal Total funds 2022 2021 G•n•ral Grant funding of adMb8S 14 45.254 11.752 10.000 55254 72,383 11.752 10 OW 67 006 82,069 FurKllry Govornaneo Totsl costs 2022 Total 2021 Administration Co AccountanGy fees Indapèndent Exarr*narfs f89 InVestsml Ajlvisers, fg9S ants 3,&X1 3.600 3,600 2.160 2.180 2,160 79) 7SO 750 5.242 5.242 3,176 55,254 47,383 11.752 67.0( 57,069 Page io
Forthe Year Ended 5 Aprll 2022 6 Trust••s r•mun•rntion and •yns Trustees represent ts Key ManaJwwl ofth8 Q*iity. Tr Trustees give th8ir generous 7 Taxatlon 8 Fixod asset inv•slmeJts 20 Investsme. at Market Value 798.121 777,351 Total Ust Investmonts Cost ¢rValuatl¢)n At 6 April 2021 Revaluatio Adon$ DisFrt)sals 777.351 19,698 Y2.075 31.003 Al 5 April 2022 Nat book val At 5 2022 798,121 At 5 April 2021 777.351 Page11
Forth6 Year En(kd 5 ArKII 21>22 9 D•btors 2022 2021 Dividends due 5.025 11,070 5.137 10 Crodltorn: amounts fallww du• vrithin on• y•ar 2022 AccnAIs ndry (xfjditors 2.910 4,382 7,292 2.910 7.292 11 Funds Balan at 6 In¢oming R•sour¢e6 8alanc& at 5 Aprll 2021 resour8 expended Aprfl 2022 Unrgstrlcted funds Gener 654.851 62.089 {57,1kn) 659,934 Designated 5,365 3J2.964 19.698 Total unr•5trict8d funds 863,SXI 81.787 {57.(Kl 10.(QO 888.981 R•strt¢t4d funds 15,0 Tolal funds 888.2fy) 81.787 12 Analysis of n•t ass•ts Tt)tsl funds FrKed assei investmts Current assets Current liabilities 798.121 112,1S2 Total nel assets 2.981 P8g8 12
Tho Brod•rs Charity Trust For the Year Ended S Awil 2022 13 Analysls ndS At 6 Aprll 2021 Cash fl¢)w At 5 April 2022 C8sh at bank 108.598 112.5411 98.057 14Analysis ofwants Grdnts to In8titutlon¥ 2022 2021 The lknnge Centre Fine Cell Work Lord May8 al The City & &Jilds LonLkn Inlts Cty of London Afghan Schcd untforrn appeal United Gullds, Service Associat8d C(xnpanies nt Venknre Contribut Museum of London Royal Sthool of N8ed184 British Luro F(xJndat Sl Hilda's East Shertffs. & R8corWs furKI Ironbrits Gorye Museum Army Banevolenl lund The Wodmen's Compary Hand & Lc UK Fash1C & Textile AssCts0n nchesler Catherdrd Royal Brtbsh Legion Antiquaries Socigty Liv8ry- No Going Shakespear&'s Gk)L Mrs Sorah Helen HU1 (Bradford Sbjjenlsl Drapers, Company (Liw Kitchen In8th) Central RegIMenL Bank. Royd Iri Garden of Rememlxan Buxton Ats Fethial The British Monarchy Sknnnws Malmesbury Uncashad grants T¢)tsl grants pald from unreBtrlcted fwKIs 5,3TT 3.642 3.000 5.999 175 18,000 3,250 10,8 2,0 500 1,000 470 250 4,¢X)O 6.2x1 47.383 45.254 Page 13
Th• Brod•r4rfs Ch•ty Trust Fortheyear Ended S Aprfl 2022 Royal Cdlege ofArt Guiidhall School of MC Totsl grants paid from restriet•d funth 25.000 55.254 Pago 14