THE WORSHIPFUL COMPANY OF CLOCKMAKERS
THE CLOCKMAKERS. CHARITY
FINANCIAL STATEMENTS
YEAR ENDED 31 OCTOBER 2021
Cb4rity Number 2753811

THE WORSHIPFUL COMPANY OF CLOCKMAKERS
THE CLOCKMAKERS, CHARrrY
TRUSTEE DURING THE YEAR TO 31 ocfoBER 2021
TRUSTEE
The Worshipful Company of ClOckn￿ exercised through the Court
of Assistants
CLERK DUIUNG THE YEAR
Camilla S￿rnan0w3ka
PRINCIPAL ADDRESS
l Throgmorton Avenue
London
EC2N 2BY

THE WORSHIPFUL COMPANY OF CU)CKMAKERS
THE CLOCKMAKERS. CHAIUTY
ADVISORS
INDEPENDENT EXAMINER
David Andrew5 Bsc MBA FCA
Northacre
De¢rleap Road
Weslcott
Surrey RH4 3LD
BANKERS
Caf Bank Limited
Kings Hill
W¢st m￿lIng
KenL ME19 4TA
INVESTMENT ADVISORS
Inv¢s¢¢c Wealth & Invegtmeni Ltsl
30 G￿5b￿rn Stree(
London
EC2V 7QN

THE WORSHIPFUL COMPANY OF CLOCKMAKERS
THE CLOCKMAKERS, CHARITY
TRUSTEES. ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 ocfoBER 2021
l. Structure, Governan¢e and Management
The Charity is gov¢rned by two Tnjst Dee&8 d*¢d 4 April 1977 and 6 S¢pi¢mber 1977. These d¢ed5 set out the powers of
th¢ TE7￿ and its objectives.
There are no restri¢tions imposed on the Charity's ¥livilie5 by the Trust D¢¢d8.
The obj¢¢tives of the Charity are specified b¢low. The responsibiliti¢S of the Tnjstee are exercis￿ by the Court of
As$istaniS in order to achieve the sp¢¢ified objectives. The Court has met four times in the period. There has been no
significant change in the objectivw organisation or policies during the last year.
2, TruJ¢s of the Charity
The fimd includes two Tn￿ts ¢niitled the'cloekmakers Charity. and the 'Clockrn¥k¢rs Collection Fund,. The Trustee of
these is the Worshipful Company of Clockn)akers. whose Te5ponsibilities are ¢xercis¢d by its Court of Assistants.
3. ObJe¢tlves and Actlvitles
The Charity ho5 th¢ objective of making charitable donations in particular, but not exCI￿1ve1y. ¢0:
a) Work connected with (he hi$tory of, research into and future of the rneasurement of time.
b) Th¢ pur¢ha5ing of horological Ltems for th¢ c1￿kn7akCrs, Collection and their mainlenance (Collection Fund).
c) Priz¢s for the promotion of edU￿tIon and training and in particular the sci¢n¢¢ and art of horology.
d) Trainin8 of clock and wal¢hmak¢ts (at college or as apprenti¢¢s) (Hal￿Sande￿￿appende￿ Fund).
e) Research and developm¢nt into the fijture measurement of time both mechanical and non-mechanieal
(HainlSandersrrAppend¢n Fund).
Selected charitie5 working within the Ciry of [￿ndon.
The MAnsion House Appeal made by the Lord Mayor of t￿ndOn ("Lord Mayor's Appeal").
h) Uiilisin8 the income from the Derek Pratt Prize Fund to award £20,000 from ¢ime to time in accordance with the
agreement establishing the Fund.. namely achievement in work relating to th¢ ¢Taft and science of time and
timekeepin8.
The ineome (from gifts, subscriptions, legacies, bequests, investments and donations) and capital of both the unrestri¢ted
and restrieted fim&s is avAil&bl¢ in the fiwth¢ranR of the above objectives.
The Charity OMTLS the Clockmakers, Collection, comprising a¢ollection of clocks, watches. tools, artefacls, re¢ord51 papers,
books, magazines, ephemera, POTiTait4 engravings and other horolo8ieal items Ind T¢lated items, the majority of which are
on display in the Clockniakers. Museum at the S¢ien¢¢ MuseuTn or stored at the Science Museum, the GuildhHII Library
and London Metropolitan Archives. The Charity also owns a collection of silver, other plate, regalia and badges. No items
in the Clockmaker5' Collection are valued within these accounts.
4. Statement on Publlc Benefit
The Trustee Body confms thai they have complied with th¢ duty in section 4 of the Charities Act 2011 to have due Tegard
to public benefit guidance published by the cI￿lty Cotnmission in determin￿8 the activities undertaken by the Charitsbl¢
Fund.
5. Achlevement8 and Perform*nte Futur¢ 4¢tivities
Income
Investment incom¢ h&8 in¢reas¢d to £67.742 this year compared with £65,472 in 2020 when there was a reduction ID
dividends because of the Covi&19 pandemic. Donwioos received and income t&K recoverdble amounted to £47.106
(2020- £48,307). both years including a donation of £30.1)IJO from th¢ G¢org¢ Daniels Educational Trust.

THE WORSHIPFUL COMPANY OF CLOCKMAKEKS
THE CLOCKMAKERS, CHARITY
TRUSTEES? ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021 {CoDtlnued)
5. Aehievements and Perforniance and Future activities (continued)
Charitabl¢ Ex
nditure
The Trn$tee Body co￿lderS that the rnain emphasis should be towards the following Objects of th¢ Clwity'.-
Support io and prizes for the promotion of education and r￿earCh for those involved with practical horology and
th¢ his¢ory of timekttping.
2. Other deserving ￿USe5 as be recornm¢nded by the Coll￿tiOn Committee or Chariry Comrnittee including
support of the iATrrd Mayor's Appeal.
During th¢ y¢ar, the Collection Fund awuired a Heck ¢ngravin& William Clement turret clock. donation of Roland
Jarvis descriptions, drawings and photographs by his daughter Sophie m&50￿ and a selethion of carTiage clock
patterns and castings by J C Tribe. boih donations from privale individuals.
The Coll¢¢tion received no loans-in to the Covid-19 pandemic.
In r¢spe¢t of training and education. the Hain Sandets Tap￿nden Fund rnade two bursary award$ tolallin8 £5.000 ¢0 two
sbjdents ai West Dean College, and £701 to one ¢4ndidate completing British Horologieal Institute distanee le4rnin8
cours¢$. A further £2.512 wa$ paid from the Unr¢stri¢¢ed Fund to support fuTther BHI candidates.
Dwing the year. from the Unrestrict￿ Fund. the Chority made donarions for workshop faciltties and equipment of
£15,000 to Birnitngham City University. £8,850 10 Dean College and £3,000 was donaied to the Hand Engravers
Ass￿l8110n in support of on oppr¢ntice enwver.
The Charity donated £1,500 in re$pe¢t of prize5 to sTr￿¢nts ￿ West De4n. Birniingham City University Ind to Univ¢rsity
College London Observatory.
Additionally hoiological projeei ￿nts were made as follows.. £4.000 to SI James Garliekhythe for restoration of their
trj￿et clock,. £500 to Si Mi¢hael'$ Bishops Cleeve for r¢storntion of th¢ir turret clock. £1,000 to Staunton County Park.,
£6,418 10 Bevi5 Marks Synagogue: £500 for rellorntion of the clo¢k at Gorleston Carnegie.
Other donaiions toialling £4.190 (21)20.. £2.425) were mad¢ from the Unrestrictrd Fund in support of..
Lord Mayors Appeal
Mus¢um of London
Help Musicians UK
Friends of Hi8hgate Cemetery
City of London Gtside Lecturers
City of London Police Widows & OEphaDs
Garden of Remembrance
Royal British Legion City of London Poppy Ap￿￿1
GSMD S¢holar5hip Fund
St Pauls Cathedra] Foundation
Livery Schools Link
Livery Company Skills Council
Sheriff5 & Recorders Fund
HMS Archer
Greenwi¢h Deptford and Roth¢thithe Sea Cad¢ts
400
400
200
200
200
300
190
200
500
500
100
100
300
100
500
£4,190

THE WORSHIPFUL COMPANY OF ClnCKMAKERS
THE c[￿cKMAKERS, CHARITY
TRUSTEES, ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021 (Conilnued)
5. Achievements and Perforniance and Future a¢tivities (continued)
Derek Pratt Prize Fund
No award of th¢ Clo¢kmakers' Derek Pratt Priz¢ wa5 made in 202(k21.
The Derek Prarr Prize is an award of £20,000 to honour those individua]5 or organisations of any nation whose work bears
the same siandard5 of innovation. ingenuity. elegance. precisio￿ workmanship and p¢rsev¢rance as tbe work of the late
Derek Pratt.
Nominations for th¢ oward are considered by th¢ Awards Panel and ar¢ subje¢t to Court approval. The fiTSt aword of the
Prize was in June 2014 to Martin Burgess for lifetime achievements in horology. The sxond award w&s made in 2018 to
Charles Frodsham & Co Ud for the development and 1oun¢h of their new wrisi-wa*h incOry)or￿in8 a double impu19e
chronometer escap¢m¢nt.
The operation of th¢ c]￿kMakers, Museum is the responsibility of the Charity. this together with maintaining and
enlwicin8 th¢ horological collection will r¢main the main fo¢￿8 of th¢ Charity's activiry in the future.
The Tn￿lee Body has resolved to retain Teserryes such that as for as possible ffiJttLre income will be sufficient, and robust io
¢hanges in the economi¢ ¢limate, to enable continuing support ol the Clwiry'$ obJe¢¢ive5 and activities. At the year end
the amount held in reserves was ￿324,071 (2020- £2,802,105).
The Hain Sand¢rs Toppenden Fund, that Research and Personal Development awards for qualified clockmakers
s¢¢king to gain new Skills, is a restricted fimd that fonns part of the r¢$¢rv¢$. The objects of the Fund were reviewed and
updated to complement th¢ objects of the GDET which now covers the majority of training related funding requests from
UK students and appr¢n¢ices, The Hain Sanders Fund also includes the Tappenden Fund that was a resthcted Fund within
Ihe Museum & Educational Trust IM&E Trust) that was transf¢￿ed to the Clockmakers, Charity ￿ part of the M&E Trust
in May 2017. Notice 15 given on the clockn￿kers, Company websile, www.
proeedure for opplyin8 for awards. Three award% wer¢ made during 2020-21.
6. Rlik M4n*g¢rnent
Risks to which the Charity may be susceptible haye b¢¢Th Identifi￿ and a Risk Re8is¢¢r has been developed as a
management ti)ol to manage miti8ation when and where appropriate.

THE WORSHIPFUL COMPANY OF CL(ICKMAKEILS
THE CLOCKMAKERS, CHARITY
TRUSTEESY ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 3] OCTOBER 2021 (Conlinued)
7. Statement of the responslbllliles of the Trnstee for th¢ finaneial statements
The is required to prepar¢ accounts for fjnancial period which give a true and fair vi¢w of the state of affairs
of the Chariry whi¢h Gomprises a sthtem¢nt of the income and expenditure of the Charity and a statemeni of its assets and
tn preparing these aceounts the TnJ5tee is required to..
(a)
maintait] suithble records of its tTan5actions which dix105e. with reasonabl¢ accuracy, the financial position of th¢
Charity at any time,
sel¢¢t suitable accountin8 pili¢ies and apply them ¢onsi5tendy.
staw whether the accounting policies are in accordance with the Charity Commission's "Accounting and
Reporting by Charities.. Stht¢ment of Recomm¢nd¢d Practice" published in 2015 {"SORP 2015"), subject to any
depgrtures disclosed and ¢xplained in the accounts,
prepare ihe accounts on a'going ConC￿n basi$" unl¢s5 it is inappropriate to presume that the Charity will continue
its a¢iivities,
make judgements and estimates that are reasonable and prudeni
safeguard the asseis of the Chariry,
take reasonable $t¢ps to prevent and det¢¢t frnud and other iry¢8ulaTitI￿.
(b)
{c}
(d)
(e)
(D
(g)
8. Investrnent powerj
The T￿$t¢¢ is empow¢r¢d by the Tn￿ D¢¢d to invest funds at 118 absolute dI￿r¢tiOn.
On behalf of ihe Tn￿tte
Dr James Ny
FSA

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 ocfoBER 2021
TO THE TRUSTEE OF THE WORSHIPFUL COMPANY OF CIA)CKMAKERS
THE CLOCKJVIAKERS, CHARITY
I report to the T￿￿teeS on my examiJJa¢ioD of the accounts of the Charity forthe year ended 31 October2021 which are set
out on pages 8 to 14.
Respeetiv¢ r¢spon5ibilities of trusteu *nd exarniner
The tn￿tte5 are r¢5ponsible for the preporation of the accounts in ￿Cordance with the requirements of the Charities Act
2011 ("th¢ 2011 ACY,). The tnL%tees are satisfied thai an audit is noi required for thi$ year under section 144(2) of the
Charities Act 2011 (the 2011 Act) and have chosett instead to have an independent examination.
I report in Tespe¢t of my examination of th¢ T￿￿.5 accounts &$ carried out under section 145 of Ihe 2011 Act. In Carrying
out my examination I have followed the requirements of the applicable Direaions given by the Charity Commission under
section 14515)(b) of th¢ 2011 ACL
Independent examlner'$ Itatemenl
I have completed my examination. I Conf￿ that no mallers have come to my attention giving me cause to believe that in
any material respect..
accountin8 records w¢rt not kept in respeci of th¢ ¢hhrity 85 required by secrion 130 of the 2011 Act,. or
2. the accounts do not accord with those records,. or
3. the accounts do nol comply with the applicable requirements concerning the fom) and content of accounts set out
in the Charities {Accounts and Reports) R¢gulations 2008 other than any requirement that the accounts give a true
and fair view which is not a matter considered as part of an indeF¢ndeni exatninatio
I have no concerns aDd have come across no other matters in COr￿e¢ll0n with the examIn￿10n to wbich attention should
be drawn in this report in order to enable a proper underswiding of the ac¢ounts to be reached.
IQ J•a
Davld Andr¢wi BSC MBA FCA
Northacre
Deerleap Road
We5t¢ott
Surrey RH4 3LD

THE WORSHIPFIJL COMPANY OF CLOCKMAKERS
THE CLOCKMAKERS, CHARITY
BALANCE SHEET
31 OCTOBER 2021
]Yotes
2021
2020
FIXED ASSETS
Quotcd invesmients
Royal Alb¢rt Hall Box
2,529.724
650.(￿]0
2.089.978
650,000
3.179.724
2,739.978
CURRENT ASSETS
Stock
DebtOTS
Cash at bank
3,626
20,193
39,576
4,055
17.218
75,436
63,395
96.709
CREDITORS: fallln¥ due
within one year
Other creditors
(19,048)
(34.582)
NET CURRENT ASSETS
44.347
62,127
NET A￿ETs
£3,224,071
£2,802,105
UNRESTRICTED FUND
GenerE41 Fund (page 9)
610,582
540,370
RESTRICTED FUNDS (pag¢ 9)
Collection Fund
Hain Sanders Tappenden Fund
Derek Pratt Prize Fw
2,013,635
354,313
245.541
,751,499
309.893
200.343
2.613.489
2.261,735
TOTAL CHARITY FUNDS
£3.224,071
£2,802,105
The financial sia¢¢Tn¢nts were approved and authorised for issue by the Tnjstees on
and wer¢ $i￿¢d below on its b¢hallby-
2022
JaTll¢S Ny
FSA

THE WORSHIPFUL COMPANY OF CLOCKMAKERS
THE CLOCKMAKERS, CHARITY
STATEMENE OF FINANCIAL ACTIVITIES (INCORPORATING Af4 INCOME AND EXPENDITURE
ACCOUNT)
FOR THE YEAR ENDED 31 OCTOBER 2021
Restritted Futhds
D Pratt
Prize
Unrestricted
Futtdj
H31n
Sanders
Tappenden
2021
Total
Funds
Total
Funds
Collectlo
2021
21121
2021
2021
2020
Notes
INCOME FROM:
Investment income
Royal Alb¢rt Hall Box income
Conl¢nls of Poor Box
Royalties income
Donations received
Legacies received
Profil on sale of merchandise
ProfiV(Loss) on Clo¢kmokers of
London
12,843
6.727
6,586
41.586
{4.415)
67,742
(4,415)
21
158
47,106
2,000
454
655
65,472
7,144
40
308
50,140
10.000
244
2,806
21
158
30.000
17.106
454
655
33.079
6,727
6.586
67,329
113.721
136.154
EXPENDITURE ON..
Dire¢t Charitable Expenditure
Managemeni and athninistraiioD of
the charity
44.540
5.701
62,878
71,719
3,525
1.233
1,197
18,192
24,147
24,888
48,065
6,934
1.197
81.070
137,266
96,607
NET INCOME BEFORE GAINS
I(LOSSES) ON INVESTMEP4TS
(14,986)
(207)
5.389
(13.741)
(23.545)
39,547
OTHER RECOC.NISED GAINS
AND (LOSSES>
Unrealised net gairnl(1055) on
inve.%tment5
Realised net gaiThl{loss) on sale of
investments
80.831
42.340
34,175
261.738
419,084
(3.819)
4.367
2287
5.634
14.139
26.427
(85,300)
85.198
44.627
39,809
275,877
445,511
(89,119)
NET INCOMEI{EXPENDITURE)
70.212
44,420
45.198
262.136
421,966
(49,572)
Fund balance brought forward
Transfer between funds
540.370
309.893
21x1,343
1.751.499
2,802,105
2,851,677
FUND BALANCE CARRIED FORWARD
AT31 OCTOBER 2021
£610.582 £354.313 £245.541 £2.013,635 £322A,071 £2,802,105
The statement of financial activities includes all g#ins and losses recognised in the year.
All income and expenditure derive from eontinuing activities
The notes on pag&s 10 to 14 forni part r)f these finan¢iai 5Wements. Comparative figwes are shown in note I l.

THE WORSHIPFUL COMPANY OF CLOCKMAKERS
THE CLOCKMAKERS, CHARTrY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 o￿oBER 2021
AccouTrrriNG POLICIES
The fujancial statements have been pr¢p8red on the historic cost convention with the ex¢eption that investments
are valued at rnarket valu¢. Th¢ accounts aTe in accordance with appli¢abl¢ a¢counting 5randards, A￿Ounting and
Reporting by Charities.. Staterneni of Recommended Practirx applicable to Charities preparing their accounts in
accordan¢¢ with FRS 102 Section IA and comply with the Charities (Accounts and R¢ports) Regulations 2008
and the Charitie5 Act 2011.
The Charity owns th¢ Clockn]akers' collectio￿ detaib of which are listed io s¢¢tion 3 of the TDJstees' R¢port.
No valuation of this Collection is included in th¢x financial staiements.
Investments are included at closing mid-mark¢¢ value at the Bal8nc£ Sheet d*e. Any gain or lo￿ on r¢v8luation
or disposal 15 tsken to the Statement of FiDan¢iai Activities.
Th¢ Fund5 as detailed in note 2 are Inv￿￿1 in a range of commereial and industrial equities. fixed interest and
Inv¢stmtnt and unit tn￿ts.
Sto¢k 1$ valued at the lower of cost or nel realisable value.
Investment ond other income received are T￿o￿nt￿l for on the ac¢nwls basis.
Grants payable, donations, bursaries and 811 other expenditure are accounted for when ihe obligation is prob&ble.
FIXED ASSETS- Investm¢n¢S
Pooled Funds Derek Pra¢¢ Fund
Totsl
Market value l November 2020
Additions
Proceeds of disposals
Realised Iloss) Igains
Net (lossl 188in on revaluation
1.868.909
167.416
(170,641)
20,792
384,909
198.207
10,328
(25,489)
5,634
34.175
2.067,116
177,744
(196,130)
26.426
419.084
Market Value 31 October 2021
2.271.385
222.855
2.494,240
Cash awaiting reinv¢sllneM
12.798
22.686
35,484
2.284,183
245.541
2,529,724
Historic cost
1.613,170
154,782
1,767,952
FIXED A&SETS- Royal Albert H411 Box
The Roy41 Albert Hall Box is part of the bequest of the I￿¢ Reginald Beloe to the M&E and was transferred to
the Charity on its winding up. The Charity r￿CIv¢S income from the PremiuTh Ticket Return S¢herne ¢)perated
by the Hall. The Box was valued by the TnLSte¢s tn 2017 at 4 Markei Value of £650.000.
io

THE WORSHIPFUL COMPANY OF CIA)CKMAKERS
THE CLOCKMAKERS, CHAIUTY
NOTES TO THE FINANCIAL STATEMENTS (eontinued)
FOR THE YEAR ENDED 31 OCTOBER 2021
DIRECT CHARIT ABLE EXPENDITURE
2021
2020
Unrestricted Fund
Donations
Prizes
Subscriptions
Trn$t¢￿ InsuraD¢e
42,858
1,000
125
557
3.425
1,000
Collection Fund
Assistant Keeper's fees
Curntors salary and pension costs
Curatorial Adviser
Insuranc¢
Vulliamy grave
Display and storage costs
Restoration Costs
Tin Box movement
Other sundry expenses
Pilot digitisation project
Clement clock
Wat¢h
Conservation of Croll Testimonial
Awards
Hfiln SADders T#pp¢nden Award
Prize awarded
Horological TrainiJJ8 Course
3,351
39,790
1,000
6,022
3,056
34,963
1,000
8,887
1,485
3.476
479
300
1,643
792
1,861
3,000
4,550
3,315
5.453
2,512
1,895
,342
701
£113.119
£71,719
MANAGEMENT AND ADMINISTRATION OF THE CHARrrY
2021
2020
Accouniancy
Contribuiion to Worshipful Company of Clockn￿erS staff ¢osts
Portfolio advisory charges
Sundry expenses
2.(X)O
9,600
12,409
138
4,000
9,592
11,236
60
£24,147
£24,888
COVENANTS AND DONATIONS RECEIVED
2021
2020
Donation from the George Daniel$ Educational Trust
Other donations received
Income tax recoverdble
30,(M)O
14,814
2292
30,000
17.722
2.418
£47,106
£50,140
TRUSTEE REMUNERATION
The Trustee received no remuneration or reitllbursement of expens¢s during the year save &s disclosed in the
Related Party Trdnsactiot)s Note (note 7).

THE WORSHIPFUL COMPANY OF CLOCKMAKERS
THE CLOCKMAKERS, CHARITY
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 OCTOBER 2021
RELATED PARTY TRANsA￿loNs
Mr F Brodie paid £3.351 for his chaTg&s as A55islant Keeper. Mr Brodie is a Liveryman of th¢ Worshipful
Company of Clo¢km4kers.
An amouTbt of £l,(KK) in res[￿ of CurntOTial Adviser's f¢¢ wa5 paid to Mr J B¢tts who 1$ a member of the Court
of Assistants of the Worshipful Company of Clocknwk¢r5.
£3,213 wos paid to BHI. Past M&ster David Poole is Vice-Presidertt of the BHJ. Justin Koullapis is & Director of
the BHI. Dr James Nye, Keith Scobi¢-Youn8s. Jonathan Bett5, MaTk Elliot4 Philip Whyte, Roy Harris, Jonathan
Hi115, Anthony Grny. Robert Wren are all memb¢TS of the BHI.
£15.000 was paid to Birniingham City Universiry. The departmenl is run by WCC Liveryman Jeremy Hobbins.
£13.850 wps paid to West Dean Colleg¢. Roben Wren is a visilin8 lecturer at th¢ College.
£3,000 was paid to the Hand En8rnvtrs Association. Past M&%ier Sir George White and Deputy Master Lady
Joayw White are Patrons of the Hand Engravers Associaiion.
£1,500 was paid to University Coll¢8e London Obs¢rvaiory. A55iStaDt Dr Pew Thom&% is & Consultant co the
Observatory.
£I.000 wa5 paid for work at Stonton Country Park and £6,418 for work 41 Bevis Marks Synagogue. The work$
were executed by the Cumbria Clock Company, of which K¢ith Swbie-youngs is a dir￿lor
EMPLOYEES
The average monthly number of ¢mployee$ during th¢ year was one (2020.. on¢).
ANALYSIS OF FUND A&SETS AND LIABILITIES
CURRENT YEAR
Unrestrlcted
Fund
Reslrlcted
Funds
Totsl
Fixed Asset Investsn¢nts
Current Assets
Current Liabilitie$
3.179,724
63,395
{19.048)
465,521
63,395
(11.105)
2,714.203
(7.943)
£3224,071
£517.81]
£2.706.260
PRIOR YEAR COMPARATIVES
Unrestricted
Fund
Restricted
Funds
Total
Fixed Asset Investments
Curr¢nt Assets
Cu)Tent Liabilitie5
2.739,978
96,709
(34.582)
465.521
91.925
(17,076)
2.274,457
4,784
{17,506)
£2,802.105
£540,370
£2,261,735
12

THE WORSHIPFUL COMPANY OF CLOCKMAKERS
THE CLOCKMAKERS, CHARITY
NOTES TO THE FINANCIAL STATEMEP¥IS (tontlDued)
FOR THE YEAR Ef4DED 31 OCTOBER 2021
io.
APPORTIONMEfU BETWEEN FUNDS
Incoming and expended resources ￿gether with realised and unreali5ed gains/loss¢5 are usually apportioned
between the restricted and unrestrlc￿d fijnds pro rata to the balance on each fund at the be8innLng of the financial
year or from when new fun(ts were received during the financial year. This is with the exception of th¢ Derek Pratt
Prize Fund where due ￿ the separat¢ investments held its investment management costs are allocated dir¢ctly.
ii.
COMPARATIVE FIGURES
Re4trieted Funds
D Pratt
Prize
Unrestrici
Fynds
Hai
Sanden
T8ppendeD
2020
Total
Fund$
Colltttlon
21no
2020
2020
2020
Notes
INCOME FROM:
Investment Income
Royal Albert Ilall Box in¢ome
Contents of Poor Box
Royalties income
Donations Rec¢ived
Legacies received
Profit on sale of merchaodise
11,890
7,134
6.022
40.426
7.144
65.472
7,144
40
308
50,140
10,000
244
40
308
31.710
18,430
10,0
244
Profit on Clockmakers of London
2.806
2,806
EXPENDITURE ON:
33.410
17.134
6,022
79.588
136,134
Direct Charitable Expenditure
Management and administration of
the eharity
4,425
3.237
64.057
71,719
3.401
1221
1.058
19,208
24,888
7.826
4.458
1.058
83,265
96,607
NET INCOME BEFORE GAINS
I(LOSSES) or4 INVESTMENTS
25584
12.676
4,964
(3.677)
39.547
OTHER RECOGNISED GAINS
AND (LOSSES)
Unrealised net gainl(loss) on
investments
Realised net gdinl{loss) on sale of
investments
(773)
{464)
45
(2,627)
{3,819}
(15.978}
(9.587)
(5,409)
(54,326) (85,300)
(16,751)
(10.051)
(5,364)
(56,953) (89,119)
NET INCOMEI(EXPENDITURE)
8,833
2.625
(400)
{60,630) (49,572)
Fund balance brought fmwd
Transfer between fi￿d9
531,537
307.649
(381)
199,042
1,701
1,813.449 2,851.677
{1.320}
FUND BALANCE CARRIED FORWARD
AT 31 OCTOBER 2020
£540.370
09,893 £200,343 £1,751,499 £2,802,105
13

THE WORSHIPFUL COMPANY OF CLOCKMAKERS
THE CLOCKMAKERS, CHARITY
NOTES TO THE FINANCIAL STATEME]wrs (eontiDu¢d)
FOR THE YEAR ENDED JI OCTOBER 21)21
12.
CONTINGENT LIABILITIES
From the Collection Fund:
Publication of early Court minutes. The Court hLs approved a budg¢l of £IOk for the digitizing and publishing of
early Court minutes. Of this, £2,820 will cover photography of the 18th eenwry Court mirtut¢s in late 2021.
tA)ndon MetropolitaD Archiv¢8. Conserygtion work on archivej and ¢*taloguiDg. The Court has approved a
budget of £43K (or the recThitmeThi of stoff at LMA for thc catsloguing ond Conservation of archival material.
Colleetion PhotogrAphy. Th¢ Cowt h&% opproved £15,000 in expenditur¢ on photO8raphy of the collection. of which
£12.500 is outstanding.
Unrestricted Fwid
The Court ha5 approved a pledge of £ 1,000 io Codford Si Peter for restorntion work to their turret clock.
Th¢ Court approved a pledge of £500 to St Martin's Desford for restoration work to their turret ¢lo¢k.
14