Charity reglstratlon number. 275080 The Broderer's Charity Trust Annu•l Report and Flnan¢(al Sl•tgmgnts For the Year Endod 5 Aprfl 2026 The Brodererfs Charlty Trust Contgnts Reference and Administr8tive Detalls Trustees, Report 2103 Stalem&nt of Trustea$' ReSpo￿lbilitIeS Indep8ndenl Examinefs Report Statement of Finan¢io1 Activit Balance Sheet Nolos lo tho Financial Slats￿￿t$ 8t014 The Brodernrfs Charfty Trust Reference and Administrative Details Chaimian S A C Bonn•3ion (Past Master) Truste•s Mrs L A PaIn￿r IMa$ler 202¥25) Mrs E M E￿1￿ (Court Member) J M Neill (Court Member) J H Wlliamson ILiveryrnan) Rev A Walker ILiveryman)- (appointed 25102r25) G M Beer (Liveryman)- (appointed 25102r251 Dr L M Hulse {Lwerymanl- lappointed 25102r25) Secretary Brigadier WAkJlldge CBE Prfnclpal Offlcè Orchard House Vurage Lane Steepk A4hton TrowbrKlge BA14 6HH Charlty Reglstratlon Number 275080 Indepondent Examln•r HJWHaman West Wng, Beedings Ca8tl8 NLrtboume Lano Pulborough West Sussex RH20 2HS 8ank•rs Lloyds Bank Pk 154 Watton Road East Mo Surrey KT8 OKP InY8stmont Managers Rathbones Ilncorporating Investec V4eaWh & IrNestmenl UK) 2 Gresham Street London EC2V 7QP P&Je 1 The Brodererfs Charlty Trust Trustees. Report The Trustees present their annual rew)rt I￿Jether with the financial statements of Charity for the year ended 5 April 2025. Objeetiv8s and acdvlties Objects and aims The Charity Ss constituted by a Trust Deed dated 29th December 1977. and its objects 8re to pay or apply the income of The Twst Ftjnd. and lo pay or appty capital. for sueh charitable purposes, subject to the tenms of the Trust D￿, or as thg Court of the Company may fmm lime to lim direct. The main charitable obJe¢tive8 are". al The advancement of èdueation of parsons desiring lo b8 apprentic•J in the art of ombroidgry through a recognised 8dLKalional Chanty. bl To award prLzes in COnn￿tIon with examinakn$ or WOFk of appMts'¢es or pèrsons undergoing training for any recognisa art or Pfofesston cl To make donations lo any registered Ch8rlty hamng 8 direct cOnr￿tIon to the art of embroidory or tho88 with the need for assistance with embrohlery related requiremonls. dl To make donations to any iegislood Charity and in particuLar to charities nominated by the Lord Mayor of the Cty of London for the time being together wth charltle8 havlng a dIr￿t connection with the Cty of London. Publlc bon•fft The Trustees confim that thoy have complied wiiti the requirements of section 4 of the Charities AGt 2011 to have due regard lo the public benefft gu￿anCe published by the Charity Commission for England and W8108. Gr•nt m•klng poll¢les It is the policy of Ihe Trustees to make grants in accordance with thg Trust's obigCtNes. The Trustees confim that they have referred to th8 guthnce cc￿laIned in The Charrty Commission's general guidance on public benefrt when reviewÉng the Tr￿t'S t)bjective8 0rKF in planning future activrties and setting the gfanl making policy for the year. Structure, gov•rnance and management R•erultm•ntand appointm•nt of Tmst The Trustees are all membèrs of the Livery of The Worshipful Company of Broderers and meet three tim￿ a year. S A C Bonning1c￿ is a Past Master of the C*)npany', Mrs L A Palmer (Master 20241251, E M Elvin an¢J J M Neill are Court Assislant$ and J H Williamson, Rev A Walker, GM Beer and Dr L M Hulse are Liverymen. Day lo day &Jministration 1$ the responsibility of the Secretary. Appx)intmenl of Trustees is govgmed by the Trust Doed of the Charity. Th8 Company is aulhorised lo appoint naw Trustees to fill vacancies arising throbjgh the resignation or death ol an existing Trustee Induction and tralnlng of Trustees New Trusteos will have been liverymen of The Worshipfvl Company of Broderers for a number of year8 prior to b￿ng invited to become a Trusteé and are aware of the Purpose of the charty. Noi th$tanding this the Chaimian and &¢retary will provKle them with historical informathTh and spend time as part of their induction process incIL￿Ing invrtÈng them to attend Trustees meebngs before formally accepllng the p08rtion. Page 2 The Brodererfs Charity Trust Oryanlsatlonal structure The Trustees administer the Charty in accordance Thryth the Twst Deed. Relatlonshlps wlth related partles Related Parti0¥ The Charty was set up by the Worshipful Company of Br0dere￿ and the present Trustees, ¢ompri$ing Past Master S A C Bonnington, Mrs L A P8lm8r (Master 20241251, Court Assistants J M Neill and Mrs E M E￿in,. J H WIliams￿, Rev A Walkgr, G M Beer arKI Dr L M Hulse are members of that Company. Major Risks and Managwnwt of Risks Rlsk Management Thè Trustees hav8 assessed the major risks lo which the Charity is èxposed, in particular those related lo the operations arKI finance of the Charty and are satisfied that adequate $y5tems and procedures ale in plaee to mitigate exposu￿ to those risks. The r￿Ule of the iisks and the a880c￿ted systems and procedure8 are regulaty revithved. As part of the proce88 the Tru6toes have impknthted th8 following.. - Th6 Trustees meet al least three times a year to revi8w Itts finatKial ￿11￿)￿ of the Tru81 and other mattefs and lo consider applications for grants . The Trustees have reviewed the Trust's own intem81 financial controls arn satisfi8d thot th&so are appropriate in minimising any risk lo the Trust fiJnds. - The Trustees have prepared a risk register wlth 1thellhL￿ 8nd knpacts or each risk hJentrfi8d. Tho Risk Register is reviè**d 81 ￿$1 annualw. Reseryes Poll¢y Th8 TnJstee8 consider the unrestricted General Fund to be primarity an inveslffent fund hekd to generate income and provieje 8 mea¥ure of slabilty lo the Charbty'8 grant making programme. The annyol rekwrt was approved by the TTu$lees of the Charity on behalf by.. 11 J 24ndsbgnedonit8 S A C 8onnington Chairman P8ge 3 Thè Brod•rerf$ Charity Trust Stat•m¢nl of T￿￿108$. Rosponsibllltles Law 8pplThble lo eharities in England 8nd W81es requires the Trustees lo prepare accounts for the financial year which give a In¢e and fair vpw of the Charitable Trust's financial aetwities during the year and of its financk81 position at the end of the year. In preparing the awunl$ that give a true ar>d fair view, the Trustees should fdlc¥w best practice and.. select Suitab￿ accounting pol￿￿ and appty them consi81enlty'. observe the methods and princtples in the Charities SORP; make judgements and estimate5 that are reaStsnab￿ and prudent., sl818 whether app￿.tobIe UK Accounting Standards and Statements of Recommendgd Practice have been followed, $ubject to any materi81 departures disclosed and explained in the financial slalements., and prepare the financial statements on the geing concem basis unths it 18 inappropriate to presume that the charitable company wsll ccffllinue in business. The Trustees are responsible for malntaining prwr accc4Jnting records that di5¢10s8 with rea8onab6& curacy at any lime the financial po&lK)n of the Twsl. They are also resFonsible for safeguarding the assets of the Trust and ￿nce for laking reasonable steps fu the prevention and detection of fraud and other irreguLqriti'es. Approved by the Trustees of the Charity on 11 J-. 202> and signed on its behaw by.. S A C Bonnington Chaiman PaJe 4 Independent Examinerfs Repryt On The Accounts IAccTuals A¢countsl Report lo th8 Irustoes of The Broderef s Charity Tnjst Charity Number.. 275080 On actounls for the year ended 5 April 2025 Set out on payes 6t014 R•sp•ctlv¢ Yvspon$lbllltlM Thg Charitys TvJste8s we responsible for the preparntion of the aco)unts. The Charity'8 of tru8t¢eJ Ind exarnin•r Trustees consider that an audit is [￿t required for this year (under section 144121 of the Chaiitiès Ad 2011 2011 Act) and that an independent examination is nèeded. 11 Is rny responsibility to examine the accounts under soclion 145 of the 2011 Act, to follow the procedures laid down in the general DiTection3 given by th6 Charrty Commlssion under socbLN) 145151{bl of tha 2011 Act, and to state ¥rt￿81 partiixlar matters h#v• ¢cm• lo my att¥ntlon. Bas1• of Ind•pendont •xamSnerf• 8tstsmont My examination was ￿rried oui in accordar&g wilh general Directions given by the Chanty Commission. An examinati￿] indud8s a ofthe accounting records kept by the charity and a ciynparison of Ihe accounts presènted tr￿)$6 iecords. 11 algo indudes conshleration of arby unLBual ttwn$ or disdosures In the accounts and seeking explanations frc*m the trusl88s conc&ming any such matters The procedurgs undertaken do not provide all thg gthnc8 that would be required in an audil. and consequenlty no opinion is given a8 lo wh8ther the a¢¢ounts k¥esgnt a 'true and fair ¥i8w' and the report is limited lo thos& matters set out in th8 statem￿1 bo￿￿. Independent •xamln•e• In ￿n￿O¢bon wilh my exwnination, ￿ matter ha8 ccffio lo my ottenlion.. •tatsm•nt whith giv88 mg r8a8Mabl8 ca￿￿ to bgllwe that, in any material respect, the reqUireff￿rts.. to keep acr￿unting records in acc£Jrdanc8 With section 130 ofthe 2011 Acl.. and lo pt8pare accounts whid)8cc￿d %￿lh the accounting records and comply with the appl￿ble requirements omceming the fomi and conlenl ol accounts sel oul in the Ch8ritKgs (Accounts and Reports) Regulations of 2008 other than any requirement that th8 acctsunl$ yivg a 'Ir￿ and fairf ¥iew which 18 not 8 mattèr fxsnsidèred as part of an Independent eX8mination. have rnt been met.. or (21 lo whlch. In my opinion, attèntN)n should be dfawn in order to enab￿ a proper underslandirs of the 8c¢ounts to be reac*ed. S[gr￿￿ Dalfj.. Name James Haffl￿n Relevant prof•••lon•l quallfi¢aUon or body Insbtute of Chartared Accountants in England & Wales Address West WrwJ. Beeding$ Casue Nulboumè Lane Pultx)rou9h West Sussèx RH20 2HS Page 5 Th8 Brodererfs Charity Trust Statement of Financlal A¢llvltl•s For tho Year Endèd S Aprfl 2025 Unrestrlctod Restrfctod funds funds Total 2025 Total 2024 Noto Income and Endowments fr(m: Donations and legacies Inveslmgnl ineom& 45.828 29.750 45.828 40,042 29 289 Totsl income Expendlture on: Charitable a¢tiviti¢s Total expenditure Nel income G81ns (10s8881 on Investmgnt8 Nel mov•mènt In fund8 4,248 4,246 40,210 Réconclllatlon of fund$ Totsl funds brought fo￿9[d Totsl funds carrth forward 11 8SS 897 855 897 851651 All of the Charty'8 a¢liviti8s derive from continuirvj operati?ns during the abova two pericd$. Pag8 6 The Brod•rerfs Charlty T￿￿t Balance Sheel As at5 April 2025 2026 2024 Flx•d a880ts Invèstments 784.511 Current ass•ts Debtors Cash at bank 15.430 63.448 13.253 96,581 Crgdltors: Amounts falllng due vrtthln one year 10 492 Net current aJ#ets 102 342 N•t a8s•ts 855.897 851 651 Fund¥ ol the Charlty: R•std¢tad funds Unre8trl¢t¢d Income funds Unreslricled funds 855 897 851651 Total funds 11 855 897 851651 The finan¢i81 Btatwn8nt8 ¢)n pages 6 10 14 were approved by th8 Tru8lea8. and authorlsed for i88ue on and $wned on their behalf by.. S A C Bonninglon Trustee IChaiman} Mrs L A Palmer Trustee P&p7 The Brodernvs Charity Trust Notes to the Financial Ststernents Forthe Year Ended 5 Aprfl 2025 1 Accountlng pollcles Summary of signlficant accountlng pollcles and key accountlng estlmatss Th8 financial statemenls have been prepared on a wng concem basis. The Trustees assess whether the use of going concem 1$ appropriate and have identified no material uncertaintie5 rel*ed to events or cond((ions that may cast svJnifKanl doubt on th8 abilty of the charity to continue as a going concern, The Trijslees make this aSSes￿Ment in respect of a of 12 months from the date of approval of the Flnancial Statements. Ststement of compllanco The accounts havè been prepared urbder the historKal rA>st convgntw)n and in accordance ￿th the Financial Reporting Standard appl￿ble in the UK and Republic of Ireland {FRS 1021 and Accounting and Rew)rting by Charittes Standard of recommended Pract￿ applicable to charilyas preparing thesr accounts in aceordan¢e wrth FRS 102 Icharitses SORP IFRS 10211 issued by the Charity commission and applicable with effect from 1 Januwy 2015. Basls ot preparatlon Tha BYod6rer'5 Charity T￿t the definitKJn of a public bonefft entty under FRS 102. A$8els and Ilabililies are initially recognised at h￿￿¢al cost or transacth)n value unless otheThvise staled in the r8bvant accounting polw rK>te8. Golng concern Tha TTuslees ¢onstder that there are no material uncertainties ats)ul the Charity's abillty lo continuè as a going concem nor any $ignthcanl areas of uncwtainty that afknt the carying value of assets held by the Charty. Income and endowm•nts All income ts recognised once the Charity has 8ntiUement lo thè income, it is probable that the income will be re¢gived and the amount of the Micome recefv8b￿ can be m8a$ured rtliabty. Donatlons and l•gacl Donations are recognised when the Charity has been notrF*d in wrrting of l)oth the amounl and settlement date. In the event th81 a dOna￿fi is subj'ect to condrtions that require 8 level of performance by the Charity before the Charity ts entitl&J lo the funds, the in¢ome is deferred and not re¢ognised until either those condrtK)n$ are lulty met, or the fulfilment of those c0ndrt￿nS is wholly within the control of the Charty and it is probable that the80 conditfv?ns wll be fu￿lled in the reporting period. Inv•stm•nt Incorno Dividends are recognised once the dNthnd has been declared and notIf￿t￿)n has b89n rgceived of the dividend due. Expenditure All expandilure is recognised once the￿ is a legal or constnjctive obligation to that expenditure, st Js probable settlement is required and the amount can be measured reliabty. Al cosls are allocated lo the applicable expendf(ure heading that aggregate simiLqi costs lo that category. Where costs cannot b@ directly attnbuted to particular headings they have been allocated on a basis consistent w(Ih the use of resour￿. Psgè 8 The Broderefs Charfty Tn￿t Notes to the Financial Statements For the Y￿r Ended 5 Aprll 2025 Gov9rnancè ¢08ts These include the costs attributab￿ k) the Charrty's compliance with con$trtutKJnal and stalulory requirements. Value Added Tax Value Added Tax is not rec¢)vernble by the Chanty and as SLth is indth4ed in th9 rebevant costs in the Statom8nt of Financial Aclivitigs. Flxod assot Investments Fixed asset investment$, othef than programme rel￿￿ investments. are Includ￿ at market value al the balance sheet d*e. Re81ised gains and losses ￿ inveStr￿n1$ ara cakulaled as the drfference befvleen sales proceeds and their market valuè at the stsrt of the year, or their subsequent C05t. ar are tharged or credited to the Statem8nt of Financhgl ActNiiw in the period of diwsal. Unrealised gains and losses represent the movenwl in rna￿et values during thè year and are credited or charged to the Statem8nl of Financi81 Activi￿9 based C￿ tho market value al the year end. Fund stru¢turg Unrestricted income fvnds are general funds that are available ft>r u80 at ihe TnJsl8es' dis¢retion in furtharance of the obiedwes of the Chafty. Desynated funds are unfestrthd funds $6t ashle for spe¢ffic purpowJ at the di8cretbn of th8 Truste8S. Restricted income funds are those donated ft)r usè in a particular arèa or for Sp￿lf￿ purpo8e$. the use of which is re$lrlcted lo th8t area or purpose. 2 Income from donatlons and legacl Unr•8trl¢ted fvnds Rostrlctod funds Total 2025 Total 2024 Doslgnated Gonornl Donations from individuals 45.828 40,042 45.828 40.042 Pa9e 9 Thg Brodorgrfs Charlty Tn￿¢ Notes to the Finan¢lal Ststemer For the Y￿r Ended 5 April 2025 3 Invèstrnent incom• Unre8trlct•d funds Total 2025 Total 2024 Genernl Interest ￿ceivable on bank deposhs 'vidend$ from fixed asset investrnents 29,289 4 Exp•ndlturn on charltabl• adlvttl Unrestrict fund8 R8strl¢tod Total fund$ 2026 Total 2024 Genornl Grant funding of a¢tNrt Governance costs Inve81ment Advisers, fe88 14 52.093 7.310 52.093 39,270 7.310 7,510 Govèmanco Total 2026 Totsl 2024 Administration c￿15 Accountsncy fees Independent Examinerf8 fee 4.200 4,200 2,160 2,160 950 9SO 7310 7310 4.200 2,160 Pago 10 The Broderfrvs Charlty Trust Notss to the Financial Statsments Forthe Year Ended 5 Aprll 2025 6 Trustees remuneratlon and expgnses The Trustees represent the Key Managen￿nI of thè Charity. Tho TN8tees gNe theii time generously and without ￿muner81￿￿ or benefii. 7 Taxation The Charity is a regislergd Charity and is th&r8forn exempt from taxa￿n. Flx•d u•et Investmenls 2026 2024 Inveslmnls. at Market Value 784,511 749,309 Total Ll8tod Investrnonts Cost or Valuatlon Al 6 April 2024 Revaluation Additions Disposals 749,309 17,6211 131.618 At S ￿ri1 2025 784511 N•t book value At S April 2025 At 5 April 2024 749,309 Page 11 The Brodererf6 Charity Trust Notes to the Flnancial Ststements For the Year Ended S April 2025 9 Debtorn 2025 2024 Dividends due Gift Aid re¢overable 8,837 7.863 10 Credltors: amounts falllng du• wlthln one year 2025 2024 Accruals Sundry creditors 3,110 3,110 11 Fund$ Balance al 6 Incomlng Ra￿￿r¢0$ 8alan¢e at 5 Aprfl 2024 r••ource• oxpèndod Aprfl 2025 Unrgstrlcted fund8 General 880.6e6 45.828 (59,4031 667,091 Movement in Inve8tsments 170 985 29.750 Total unr•8trlct•d fund$ 851.651 75.578 171.3321 8S5,897 Rostrlctsd fund$ Total funds 851651 75 578 855 897 12 AnalyBI8 of net assets Totsl funds Flxed asset investments Current assets Current liabilits$ 784.511 78,878 7,492 Total nel assets 855,897 Page 12 The Brodorofs Charlty Trust Notes to the Financial Stslements Forthe Year Ended 5 April 2025 13 Analysls of net funds At 6 Aprll 2024 AtSApri 2025 Cash flow Cash at b8nk 96,581 133.133) 63,448 14 Anaty81s of grants Grants to Instltutlons 2025 2024 Th8 Grango Contre Fine Cell Work Lord Mayorf$ Appeal The City & Guilds London Institute Un(fed Guild$, Associated compani￿ Joint Verrturo Contr*Jution (net of income) Barts Hea￿h NHS Trust Royal S¢hc¥Jl of Needleworf( R¢)edèan Sche