THE WORSHIPFUL COMPANY OF CLOCKMAKERS THE CLKMAK£RS, CHARITY FINANCIAL STATEMENTS YEAR ENDED 31 ooBER 21120 Haym)atlntyre LLP 10 Queen Street Pliee London EC4R IAC Ch•rlry Nwllb¢r 275381)
THE WORSHIPFUL COLPA1¥y OF CLOCKMAK THE CLOCKMAKERS, CHARITY TRUSTEE DURING THE YEAR TO 31 ocfoBER 2020 TRUSTEE Th¢ Worshipful Qymp3Dy of Cl(Kkmaker5 cx¢rci*d through the CIJ oIA&sistants CLERK DURINC THE YEAR Col O P Bartn MBE until I l Novetnber 2019 Camilla SZymawSkl from i ith Novembcr 2019 PRINCIPAL ADDRESS l ThrognM)rlon AY4XU¢ EC2N 2BY
THE WOILSHtPFUL COLPANy OF CLOcKMRs THE CLOCKMAKERS, CHARITY ADVISORS INDEPENDENT EXAMINERS Haysmacintyre LLP 10 Qu¢eD Str¢rt Place EC4R IAG BAI¥KERS Caf Bank Limikd Kin&$ Hill Wcst Malling KenL ME19 4TA INVESTMEi¥T AIIVISORS InVt¢£ Wcalth & Inv¢strn¢nt Ild 30 GT¢shJm S¢r¢¢t EC2V 7QN
THE WORSHIPFUL COMPANY OF CLOCKMAKERS THE cCKMAKERS, CHARITY TRUSTEES, ANNUAL REPORT AND FINANCIAL STATEMENTS FOR TIIE YEAR ENDED 31 OCTOBER 2020 l. Strueture, GDvern#nee ad MMgemeDt The Charity is 8ovcrned by two Trust Deed's daled 4 Aprsl l977 aTrJ 6 Scpthber 1977. 11¢$¢ d¢¢ds set out the powers of the Trt and its objectiv&s. There Are no rt4trithion8 imFosed cth the Charitys activities by the Tn Dets. The objeetives of the Ch&riry are specifd beknw. The re5pJosibilities of the Tnts¢ ar¢ ¢x¢r¢isl by the Court of A&sistants in order to achieve the specified objectives. The Coun has Thet four times in th¢ period. There has been no significant change irt the objectives. or8anisaii(• or kKJlicies during the last year. 2. Truits of the Charlty The fjjnd includes Thvo Tnts entided the flockne[S charl and the 'Clockmakers Collection Fund.. The Trustee of the80 is the Worshipful CompnY of Clockmakus. wlThe r¢sw1b111tits Are exereised by itx Court of Assistants. 3. ObJectlve¥ and A¢tlvlt Th¢ Chariry has the objective of makiD8 Chl¢able don4 in particular, ooi exclusively al Work connected with th¢ his¢ory of, r¢s¢h into Attd futttre of the measurement of lime. b> The pUhas1nS of horological iiem$ for th¢ Clockmakets. Collection and their maintenance (Collection Fund). c) Prizes for the promo¢ion of educatson and trBinin8 and in panicular the science and art of hoTology. d) Training of ¢Ik and W2hmakCS (al collcBe or as apprentlces) (HaublSandersfTappeth Fund). e) Research and development into th¢ n)e•sLmeni of tEn both mechanica] and non-mh4n1Cal (HainlSanderTapp¢nd¢n FUTKII. Selected ¢hariii¢s working within th¢ City of tlldOn ) The Mansion Hous¢ App¢41 m8d¢ by the LAJrd Mayor of London ("Lord Mayor'5 Appeal"). ) Uiilising the iti¢om¢ from th¢ D¢rek Pratt Pnze Fund award £20.(MX) from time lo time aeeord8n¢e with th¢ agreement estsblighiti8 the Furtd.. Jwnely achievement in relaljng to th¢ ¢r8fi snd s¢ien¢e of ¢im¢ ajxl The income (from gift8, gubscriptions. le8acits. INuests, investments and Ik)natioDS) and capital of both the untt$tri¢i and restricted funds is available in the fiuther8nce of the above objectiv. Th¢ Chwrity owns the Clockmakers. Collection. comprising a colkctiottof ¢I(K wai¢h¢s. loo artefacts, records',paper6, books, magaziftes. ephemera. portyaiw engravings and OtherIr0101¢al ims and rel¥t¢d item& the majority of which a on display in the Clockmakers. Museurn at the Science Museum or sIor1 at the Science Mu5etsm, the Guildball Library and london Metropolitsn Archives. TtrLe c11Y also OWDS a wlltttiott of silver, otherplate. re4aiia and bJge8. No ilemy in the Clockmakers. CoUe¢rion are valueAI within accounts. 4. Statement oll Publle Benellt The Trustee B(xJy confJnn5 that they have complied with the duty in section 4 of the ChaTitie5 Act 2011 to have due re¥a to public bcri( guid8n¢e publislKd by th¢ Ch¥Tity c{M"s$101dennlllI the acts'vities und¢rtak¢n by the Chatitabk Fund. 5. Achlevem¢nts ind P¢rfonngn¢e and Flltllre etlvltles come Inv¢slm¢nt incojlle has decreased to £65.472 this year wnpgTcd with £79.960 in 2019 to a rthction in ¢Jividends d¢clar¢d be£ausc of the Covid19 pandemi¢. Donations reccivcd and incorne tax rccovttable amounted to £48.307 {2019- £49.824}, Ix)th Yr5 includmg a dortation of £30,IXK> from tl G¢orge DleL8 Ethtional Tntst.
THE WORSHIPFUL COMPANY OF CLOCKMAKERS THE CLOCKMAKERS, CHARITY TRUSTEES, ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED JI ooBER 2020 Iconthiueo) S. AcldeveJneDts and Ptrforjnance Ind Future a¢dv1th5 l¢o•tlnued) The Trnstee Body o)nsiders that the ll1 emphasis shCld be WardS the followinB Objects of th¢ Charity... l. Support to alld prizes for the promotion of ¢dwauon and rc5e4rch for thos¢ involved with prnetical knrology #nd the history of limekeeping. 2. Other desetvin8 causes as may be by th¢ coll¢10n Commtll¢e w Chtirity Cornmittee iftcluthnB 5UPPOrt of the LA)rd Mayor's Appeal. During the year, the Collection Fund acquired.. Unfinished strik8 watch movement fTom a priva1¢ Colkctor. Fe Horologiographia at auction A pocket watch and tool Associated with the BTooks f8mily from ¥ private ¢oU¢¢tor. Thc Ch4rity received w donatioTL8 to th¢ Coll¢dion.' Appr¢ntice indenture and memoTrndum of a8Teement ftr James Miles. don&*d by a private donor. Thc Coll¢¢iion reccivcd, &8 loany-in fordisplay in the Museum hvo from one pivate lender. and three objLxts from th¢ Scien¢¢ Museum. In regpe¢t of training #TMI education. the Haiti Sattders Tappettden Fund nJe an award of £1,342 to candidates completing the British HoTologicd In%titute dist&tti le8rning courses and on Award of£i.895 to D Hi880n. The Colle¢tion Fund ¢ontribut¢d £750 foT tree clearance adiacent kn the lomb of John Haffison et Hampstead Parith CburGh and £1.485 foT Tesior3tion nMint¢naiKe of the Vulliamy Rrnve.(FuJS rais•J from the companies and m¢mber8 of the Vulliatlly family for of th¢ grave). During theyear the Charity (knWI£1,0(Y inffespectofprizes to students at Birn)ingh Ciry University and to University Coll¢s¢ Londctts Obs¢rv4wry. Addiiionally a 8Tane of £IXW was znade ts St Petrock's Churd4 Timberswmbe, Exrnoor. for reMoraiion of their ¢hur¢h ¢l(Kk. Other donations allg £2.425 (2019.. £3,750) wue ID WlP)rt of.. TSteeS of Uoited Guilds Serviez Lord Mayors Appeal Museum of London Help Musicians UK Friends of Highgate Cemetery Ciiy of London Guide Lecturers City of London Police Widows & Orplw City of London Poppy Appeal Royal British L¢gion GSMD S¢holarslu'p FuDd Si Pauls Cathedral Foundati( Liry Schools LiDk Livery Cornpany Skn'115 Council Sheriffs & Recordcr8 FuThJ 175 200 200 100 100 100 150 250 250 425 125 loo 150 £2,425
THE WORSHIPFUL COMPANY OF CLOCKMAKERS THE CLOCKMAKERSI CHARITY TRUSTEES, ANiYUAL REPORT AND FIliANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 20211 {CoDtinued) S. A¢hlevetneDts •nd Perfom#n¢ ttd Future ttfivAtfies (eomtlnlled) D k Pratt Priz F No award ofthe Cknkmakers, Durk Prall Prize was tnade in 201W20. The Derek Prats Prizc is an award of £20,0(X) to bonour thse ijmlividuals or organisations of any nation whose work btars the same swthrds of innovatioffj iti84Wity, elegance. precision, wothanthip andpuseverance &s the work of th¢ latc Derek Prat¢. Nomiti4U0Th4 for the award are ¢(sIdered by the Awards Panel and are subject to Court tpprovttl. The first award of the Prize was in June 2014 to MartiA Bur8ess for lifetime achievements in hoTology. The sc¢ond award was made An 2018 to Charles Frodsh4m & Co Lfrl for the deveILVnl and launch of theiT new wTiSt.Wah incoryK)rJ¢iti8 a double impul chronometer esGap¢m¢ni. Yi Th¢ operntiffl of the Clockmakers. Museum ts the resFonsibility of the Charity; this together with maintsining and ¢nhancin8 th¢ horolo¥ieal collection will ren)aiD the 10 f¥xus of the Charity's xtiviry in the futhre. The Tru8iee Body h&$ resolved to retsio res¢rv¢s su¢h th4t as tor &8 KK)ssible tuntre irte4)me will be sutlicienL and robu51 to Changes in the economic climale, to ¢b ¢on¢iDuing supwtof th¢ Chority'$ (Ojective4 and aciivitieg. Ai the year end the amount held in Merves was £2.802,105 (2019- £2,851,678). The Hain Sander5 Tappenden Furt thai fimds Resevch and per&1 Development awards fw qualified ¢lo¢kniakers seekm8 10 gain new skills, is 4 restri¢¢¢d furtd that forn)ID part of the reserves. The objects of the Fund were reviewed a1 updated to complement the objffts of the GDEf which now Covers the majoriiy of traInU rela funding requests from UK smdents and apprenti. Th¢ Htiin Sandcrs Fund also includes the TWdell Fund that was ¥ rcstricted Fund within the Museum & Educationa] Trust (M&E Tn) thai was iransfened to the Clockmakers. Charity part of the M&E Tntst ID May 2017. Notice is given on the Clockmakers, Company w¢bsiie. HTrs'w. ets.o . alxwt the Fun4 and the procedure for applyin8 for awards. Two awuds were m during 2019-20. O. Rlik MAts#8tme*( Risks to which the Charity may be susceptible have idents'fKd and a Risk Re8iSter hos been developj ag mana8emeni t¢xJl io nwia8e mitigation when and where arwriale.
THE WORSHIPFUL COLWPANY OF CLOCKMAKERS THE CLOCKMAKEILS, CHARITY TRUSTEES, ANNUAL REPORT AND FINANCIAL STATEMENIS FOR THE YEAR ENDED 31 OCTOBER 2020 (ContIne0) 7. Stotement of th¢ respom8lblMtles of the Trultee for the ststemettts The Tnte¢ is required to prqjare accounts lor each fuwKJal peri¢yJ which give a true alld fair view of the state of affairs of the Chariry whith compiise5 a statemcllt of the income athl exptr)diture of thc Clwity and a siat¢JD¢nt of its ets and liabilitiGs. In pr¢patI aounts the Trustee is trquired to: (a) maintain sut¢able rcwrds of its tr8nsaciions whiclj disclo with reasonableaccuracy. th¢ fin4n¢ial position of the Charity at any tim¢, It suiwbl¢ awountitig w>licies alld appty them consislentty. 51at¢ wh¢ther the accounting policies are in accordanc¢ with the Charity Cornmission's "Accouniing and Rep)rting by CIwTities'. Statement of Recommended Practice- published in 20151"SORP 2015"). subject lo any d¢partur¢$ dis¢108ed attd explaitied in the accout)ts. prepare the a¢¢wnts on a'going concern basis" unkss it is inapprowi•te to pre5um¢ thatth¢ Clwity will continue its aCtIti¢ make judgements and estimaks thai rt4&)nknle and pnmlenk gafeguprd th¢ 8ss¢ts of the Chan"ty, take reasonable sK)s io pV¢ and dethct fra and other iTheBulaTitie8. (b) (c) (d) (e) (o 8. tmvestmemi powe The Truste¢ is empowere41 by th¢ Tntst Deed to invest fund8 its abso* dilIL On behf of the Tw8¢e4 Migdal (LAdy Vlhite)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 OCTOBER 2020 TO THE TRUSTEE OF THE WORSHIPFUL COMPANY OF CIA)CKMAKERS THE CLOCKMAKERS, CHARITY I report to the Trustees on tny exninli0rt of the accounts of the CFwiry for the year eTrJeJ 31 Octh 2020 which ar¢ set out OD pages 8 to 14. Rwpectiv¢ respoDgibiiities of truslezs examlner The truste¢¥ are responsible for the preparallon of the accounts ID accordartce with the requirements of the Chariues Act 2011 ("th¢ 2011 Act"). Tbc tnLsiecs are satisfied that audit is required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and have chtssen iLstthl to have all independeni examinaiioll. I r¢port in r¢spect of my examinaiion of the Trn'S accounts as carrled undtt section 145 of the 201 L Act. In carying oui my txamination I have followed the requiremcttts of the applicable DItionS given by the Chariry Commi8510n under soction 145{5Xb) of th¢ 2011 kn. Independent exmln¢r'J stst¢m¢Dt I have Complej my exartil.0ll. l ¢onfirni th41 no have come to rny atnuon giving me cause ts beli¢v¢ th4t in any ma¢erial TesF¢¢t.' 4¢¢ouniing re¢ords w¢ffe not k4)t in re4)eci of the charity as required by section 130 of the 2011 Act; or 2. the accounts do accord with thctse records: or 3. the accounts do noi comply with the applicable requirements concerning the fonn and ¢ontent ofvxounts Set out in the Charities IAccounL$ and Reports) ReBulati00g 21K)8 other than any Tequiremeni thai the accounts give a mi¢ and fair view which is not * maller considexed as part of an in&peDdent examitiOn. I have DO conc¢rn¥ 3TKI haye come acyom no other mauers in corn)e with the examination to wbith attention thould be drawrt in this rq)ort in ordtt w etsabk a proper understhDding of the aonts to be re4¢hed. Alldrew Broome ACA For And on beb8ifof Ilaysmaclntyre LLP Ch8nered A¢¢owlltants 10 Queen Street Plaee ljondo EC4R IAG 14 Apdl 2021
THE WORSHIPFUL COMPANY OF CLOCKMAKERS THE CLOCKMAKERSJ CHARITY BALANCE SHEET 31 OCTOBER 2020 Notes 2020 2019 FIXED ASSETS Quoted investments Royal Albert Hall Box 2,089,978 650.( 2.164,310 650.000 2.739.978 2.814.310 CURRENT ASSETS Stock Debtor8 Ch at bank 4.055 17.218 75.436 800 24,369 52.036 96,709 77205 CREDrroRS: amounti falling dwt wltbth One year Other creditor8 (34J82} 139.837) NET CURRENT ASSETS 62.127 37.368 NET ASSETS £2.802,105 £2,851,678 iJNRESTRICTED FUND Gen¢Ta] Fund (page 91 540.370 531.537 RESTRICTED FUNDS (pa8e 9) Collection Fund Hain Sanders Tappenden FuThl Derek Pratt Prize Fund 1.751.499 309.893 200,343 1.813.449 307.649 199.042 2.261.735 2.320,141 TOTAL CHARITY FUNDS £2,802.105 £2,851,678 The fuwi¢Aal statements were approved authori for issue by th¢ TnLSte¢s on 26th Jaouary 2021 and were Signed below on its behalf by: J Migdal jI2dy White) .
THE WORSHIPFUL COMPANY OF CLOCKMAKERS THE CLOCKMAKERS. CHARITY STATEMENT OF FILYAi¥CIAL ACTIVITIES ONCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 ocfoBER 20211 Rfstrk¢¢d Funds D Pratt Unrestrieted Funds H1 Sanders T•ppenden 2020 Toti Fundg Total Fulld8 Collectlo 2020 21120 2020 2020 2019 INCOME FROM: Reftmd Croll Testimonial Investsnent income Royal Albert H] Box income Conlonts of Poor Box Royalti¢5 in¢om¢ Donations r¢1yed Lega¢i¢s rtteived Profit on $e of meTchandise Profitl(U)ss) on Cl(Kkmoktrs of ldOn 5,958 79,960 32,229 880 490 49,824 7.134 6,022 40,426 7.144 65,472 7,144 40 308 50.140 lo,0 244 2,806 308 31,710 18.430 10.( 244 2,8(K 373 (3,235) 33,410 17.134 6.022 79.588 136.154 166,479 EXPENDITURE ON: 'rect Clwitable Expenth'bjre margI<i and administration of th¢ charity 4,425 3237 64.057 71,719 L04242 J,401 1221 1.058 19,208 24,888 24J37 7.826 4,458 1.058 83265 96.607 128,579 ET INCOME BbbORE GAINS IILOSSES) ON INVESTMENTS 25.584 12.676 4.964 (3,677) 39.547 37,900 OTHER RECOGNISED GAINS AND (LOSSFS) unrealis net gairtlooss) o investments Realised net 88{loSsI on sale or inves¢ments (773) (464) 45 (2.62D (3.819) 122,290 (15.978) 19.587) (5.409) (54.326) 185,3(K)) 8,743 116.751) (10.0511 (5 J64) (56,953) (89.119) 131,033 NET INCOMFJ(EXPENDrruRE) 8.833 2,625 {400) (60.630) (49.572) 168.933 Fund balance brou8ht fonvard Transferbetween funds 531.537 307.649 (381) 199,042 1,701 1,813,449 {1,320) 2.851.677 2,682,744 FUND BALANCE CARRIED FORWARD AT 31 OCTOBER 20211 £540J70 £309,893 £2j43 £1,751.499 £2,802.105 £2.851,677 The statement of fu1¢1a1 a¢tivities includes all gains aDd10&8¢S Te¢ogDwd iti the ye4t. All income and expellditure derive from cootinuing activities The notes on pages 10 to 14 fonn part of tbese fwan¢ia] ststementy CotllFArntive figures are shoTr in TK*te I l.
THE WORSHIPFUL COMPANY OF CLOCKMAKERS THE CIA)CKMAKERS' CHARITY r40TES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020 ACCOUNTt¥G POLICIFS Th¢ financthl $tstettThts have been prepared on the his¢oriG cosl wIVetion with excq)tion thai investtllents are v41ued atjnthet value. Thc accounts are in auordan¢e with applicable xcountin8 Standards Acc<tIng and Reportin8 by Cban"tie5'. StaiemctLI of Recommeotsj Praaice appliuble to CltieS preparing their accounts in accordance with FRS 102 Section IA and con)ply with th¢ ChJriti¢s (Ac¢ounts otsd Reports) Regulations 2(KJ8 and the Chan"tiC5 Act 2011. The Clrity owns the Clockmakers. Collection. details of which are listed irt section 3 of the Trust¢es' Report. No valuation of this Collection is incluthd in these fll)anciaJ sthiements. Invc5tmenL% arc includcd ai closing mid-mwkei vae at the Balance She¢t datr. Any gain or loss on revaluation or disposjl iy ¢aken to the Siatheni of FinaDcAal Activitie5. Th¢ Fun(Ls &8 &tailed in rtotr 2 are invesied in A range of commercial in¢Justrial cquiti¢S. fixed intereyt attd invethent and unit tru8L8. Sio¢k is valued a¢ the low¢r of ¢0* or net realisable vah%. Inv¢slm¢Dt other in¢om¢ reIVed are xcounted for on the accnJ8]s basis. Grants payable. donations. iwsaritt and au other exwith'trjre are a¢nIed for when the obligation 1$ probabl¢. FIXED sETs- Investmenls Pooled Derek PrAtt Fulld Total Market value l November 2019 Additsons Prced5 of disposals Reallsed (loss) IBains Nei (lossl Igain on revaluation 1,874,985 389.508 (311.831) (79,891) (3.862) 197226 28,026 {21,681} (5,409) 45 2.072,211 417.534 (333,512) 185,3001 (3,817) Markn Value 31 Odober 2020 1.868.909 198207 2.067,116 C&8h awaiting reinve8tmeni 20,726 2.136 22.862 1,889,635 2.343 2.089,978 Historic cost 1,729,602 102,481 1,832,083 FLXED ASSETS- Royal All>crt Hall Box The Royal Albert Hall Box is part of the be4Ue5t of the late Regitiald Bdoe to the M&E and was transferred to the Charity on its witiding up. The Charity Te¢eives inwm¢ from th¢ Premium TickeÉ Return Scheme operaied by the Hall. The Box w&$ valued by the TThsttts in 2017 al a Mark¢t Valu¢ of £650.¢XX). io
TIIE WORSHIPFUL COMPANY OF CIA)CKMAKERS THE CLOCKMAKERS. CHARITY NOTES TO THE FILYANCIAL STATEMENfs (¢owtinrn¢d FOR THE YEAR ENDED 31 ocfoBER 21120 DIRECT CHARITABLE EXPENDITiiRE 2020 2019 Unrutricted Fund Donations Pri7£s 3,425 1.000 3.750 3.051 Co1]elon FuDd A5SiStant Keeper's fe¢3 Curators sa]ary and pension c09 Curatori81 Adviser Ifysuran¢¢ Vulli8my 8rave Display and stOrn8e costs RestOTation CosL4 Tin Box movemeni Other sundry expa5 Picture Mudge Memorial Watch cOervation of Croll Tertimortial 3.056 34,963 4,684 33.413 I,(K)O 5.288 1.485 12,096 8.887 1.485 3.476 479 3(MJ 1.643 2.475 25.oc 12.OCrf) 3.315 5,453 HAln SaDd¢rs TappeDdets Aw*rd Prize awarded Horolo8ical Trninin8 Course 1,895 1,342 £71,719 £104.242 MANAGEMENT AND ADMINISTRATION OF THE 2020 2019 Atrouniancy Contribution to Worshipfvl Company of Clc¢kmakm stsff Portfolio dvisory ¢h•ry¢s Sundry ¢xpen 4,IXIO 9.$92 11236 60 4.oc 8,716 11,142 479 £24,888 £24,337 COVENANTS AND DONATIONS RECEIVED 202• 2019 Donation frnm the Ge4)rg¢ Daniels Educational TrKtst Other donatiojks received In¢ome recovernble 30,0 17.722 2,418 30,000 16,695 3,129 £50,140 £49,824 TRUSTEE REMUNERATION Th¢ TrwsLe¢ recaved MnUtIOn or reimbwse4Dent of ¢XP¢DS¢S dunng the year save as disrlosed in th¢ Related Party TTrnsaCtio5 Note (Jy)te 7).
THE WORSHIPFUL COMPANY OF CLOCKMAKKRS THE ClllCKMAKERS' CHARITY NOTES TO THE FllYAI¥CIAL STATEMENTS (eothiMed) FOR THE YEAR ENDED 31 ocfoBER 202(1 RELATED PARTY TRANSAcfioNS MT F Brodie was paid £3,056 for his choTg &s A&8iStant Keeper. Mr Brodie 18 8 Liv¢rym8n of the Worshipfi Compally of Clwkn]aket& An ount of £l.(W in respect of Curntori21 Adviser's f¢e w&% paid to Mrj Betts who is a member of the Court ofAssiStants of the woTship1 Company o[CkMkc$. EMPLOYEES The average monthly Tmunber of employ¢¢s th¢ yearwas ODe12019.' one). ANALYSIS OF FUND ASSETS AIW LIABILrriLs CURRENT YFAR Unrestrletsd Fund Restricted Fund T•tl Fixed A%8ct Inv¢gIm¢S Curr¢rht Asets Curr¢ni Li4biliti&s 2.739.978 96,709 (34,582) 465,521 91,925 (17,076} 2.274,457 4,784 (17,506} £2,802.105 £540J70 £2261,733 PRIOR YEAR COMPABATIVES Uttreilrl¢¢ed FuDd Regtrlcted Fund• To¢ Fixed 1nve5tsnets Curreni Assets Current Liabilitie5 2.814,310 77205 (39.837) 509,219 65,955 (38,837) 2.305,091 11,250 (l.O(M)) £2.851,678 £536J37 £2.315,341 12
THE WORSHIPFUL COMPANY OF CLOCKMAKERS THE CLOCKMAKERS, CHARITY NOTES TO THE FINANCIAL STATEMENTS (tontlnued) FOR THE YEAR ENDED 31 OCTOBER 202 io. APPORTIONMENT BETWEEN FUNDS Incoming and expended res[rCeS togethtt with realisoj and unrealtsed gajnsllosses art Usually Apportion between the ffstricted a¢]d w)sl¢l¢d funds pro the balance on each fjmd ai the beginning of the financi41 year orfrom when new fimdswere received during the fm8JKial ye4r. This is with the exception of the Derek Pratt Prize Fund where to the separnte investmellL%' held inveslmeol t[W¢er¢I sts ar¢ allocat¢d directly. COMPARATIVE FIGURES R¢Jtri¢t¢d Futsdi D Pratt Prkn UDmtrktrd FvDds Hln Sanders Tppenden 2019 Tothl Fundi Colle¢tk)n 2019 21119 2019 2019 INCOME FROM: Refvnd Croll Te4timoni81 Investment In¢om¢ Royal Albert Hall Box in¢ome Content¥ of Poor Box Royalties incom¢ Donati¢)ns Received Profit on sale of merchalldise Loss Clockmaker8 of Loodon 5,958 79,960 32.229 880 490 49.824 373 (3.2351 14,lJO .324 7.354 50,152 32.229 880 490 30,000 19.824 373 {3235) 31.972 ,324 7.354 118,829 166,479 EXPENDITURE ON: Direct Charitable Expenditure Management and administratson of the ¢lharity 801 97.441 104.242 3.721 1,161 1,018 18.437 24.337 10522 1,018 115,878 128,579 NET IJ¥COME BEFORE GAINS I{LOSSKS) ON INvEsTMEr5 21.450 7.163 6J36 2,951 37,900 OTHKR RECOGNISED GAINS AND ILOSSES) Unrealised net gain100> on invesunents Realised net Rainl(108s) on sale of investments 21.723 12.797 10,666 77,104 122,290 1.763 1,039 (3171 6258 8.743 23,486 13,836 10.349 83 J62 131,033 NET INCOME 44,936 20.999 16.685 86J13 168,933 Fund balanc¢ brought forwatd 486,601 286.650 182.357 1.727.136 2.682,744 FUTrID BALANCE CARIUED FORWARD AT 31 OCTOBER 2019 £531 J37 £307.649 £199,042 £1,813,449 £2,851.677 13
THE WORSHIPFUL COMPANY OF CLOCKMAK THE CLOCKMAKERS, CHARITY NOTES TO THE FINANCIAL STATEMENTS {¢omtinued} FOR THE YEAR ENDED 31 ocfoBER 2020 12. CONTINGETrIT LIABILITY The Clwity has uudertakert to COnthule 5¢YAofthe ¢ostsofdigilisiDg themiDuW ofthe Court of the Worshipfidcompany of Clockrnakers. There was w contribution irt either this year or lasi year. 14