THE WORSHIPFUL COMPANY OF CiA)CKMAKERS
TRE CiA)CKMAI<ERS' CHARITY
FINANCIAL STATEMENTS
YEAR ENDED3A OCTOBER 20LI
Ch*rity Number2753811

THE WORSHIPFUL COMPANYOF CiL)CKMAKERS
TRUSTEE DURll¥G THE YEAR TO 31 OCTOBER 2023
IIIUSTEE
W(¥sbipfjJl Comp8lly of aocknth exer¢i*d thrcdghth¢ Court
of
CLERK DURING THE YK4R
CaTDill8 SZYM￿0wSk&
PRINCIPALADDRESS
l ThropAthton Ayertue
London
Ef2N 2BY

THE WORSHIPFUL COMPAfiY OF CLOCKMAKKRS
THE CLOCKMAKERS. CHARITY
ADVISORS
INDEPENDENT EXAMINER
DavÈd Andrcws Bsc MBA FCA
Northacrc
D¢eTleap Road
Westc4)tt
Surrey RJ14 3LD
Caf Bank Limited
Kings Hill
Wtst Mallillg
Kent, ME19 4TA
INVESTMENT ADVISORS
Irwcstee Wealth & Inve5trKth
30 Grtsham Strret
Lortdo
EC2V 7QN

THE WORSHIPFULCOMPANY OF CLOCI(MAK
THE CiLICKMAKERS' cHAR￿y
TRUSTEEV ANNUAL REPORT AND FINANCIAL ￿AT￿ME￿I5
FOR THE YEAR ENDED 31 ocfoBER 2023
J. Strudur4 GoverDAw¢e and Ma#•8ement
Th¢ Clwity is gov¢rn&l by two Trust D¢¢4ts dat¢d 4 AFrfil 1977 and 6 Stptemlw 1977. Th¢Ee deeds 8¢t out the p￿￿tr5 of
th¢ThLSt and its objective&
Th¢Te are no reslrictions irnp)s>J on the Chvitysaetivitiesby the Thist Deeds.
The objectives of lh¢ Chwity are below. Th¢ resPOD8ibibii¢s of th¢ TnJ*¢e are exercised by th¢ of
Assi4anls in othr toa¢hiev¢ the speafied obje¢iiv¢s. Th¢ C￿￿[1 Iw md four times in the￿10d.
The Cowrt Iw cimtinu&l the prom4 of Teviewing of t￿ Charity its ¢h¢paiod, Ther¢view proces5 1$ ongoing.
Ther¢ ha￿be¢ll1 no thgAifi¢attt dwhses i# th¢ objethiv4 tx8•nis2tion oroth¢rpoliric5 duyin8 the last yew.
L Tr4th o¢¢he Cb•rJty
Th¢ fond iAclud¢s iwo Tfi￿$ entitled the'aockmthrs CTharity' thc'ClothD¥k¢r5 C&Trllection Fund.. The Thi&*ee of
thc5cis theworshipfvl CornpoThy of (Jockmak¢T4 whoser¢5tM)DSibiliti¢s pr¢ by its of Assi*Jnt&
Charity h•8 the objective of making ¢hwi￿bled0D￿tlOTrS in p￿D￿l#r. bul not uclusivdy, to:
a) Work conuected with thc hi#ory of. Tese4rch inlo and fvture ofthe Me&9Jr￿￿ oftim
b) The purchasin8 of hoTtsIo8ical itern$ for the Clockni￿rr￿, Collection Ind thelr Maint￿1￿Ce {Coll¢dioD Fund
c) Priw for th¢ promotion of du¢a¢ioD and training and in Parti￿1)r th¢ 6ci¢nce 4Dd art of howlogy.
d) Trainin8 of ¢1￿k ond wat¢hmakers ¢ollege or as *pI￿rti¢¢$) (Hainthd¢nifwenden Fundl
8) Rese4t¢h wjd deVelopn￿llt into the fotur¢ me4sjtyth￿ of tim¢ m¢¢hanical and noh.mthical
(Hal￿Pe￿ Fund).
S¢l¢c¢e41 ¢hWill￿ working within the City Qf LoDdoyJ
g) The ma￿Ory House Appeal mad¢ by the MayoT of L4ndoD (-Lord Mayor's Appell").
h) Ulilisirtg the irt¢4)me from tht tkrrk PrAtt Piiz¢ Fund to avnrd £20,1100 from time to lime •cwrd￿¢e with thE
agreernent C5tabli8hing the Trknnd.. narncly achievement in WOTk relating to the ¢raft and science of time and
timek£epTrn8
The income (from gifts. sub￿1￿1￿4 lega¢ic4 br4uest9, inveslm¢nt5 donolions) and vital of both ihe UDrestractcJ]
re#ri¢trAI fvnds is available in the fllrflw8￿c of the above obieaivlx
Th¢Qarfty ownstht Clo¢km&keTS' Colleetion. eomwl$I￿0e￿1]tcIL0th of ¢lo¢ks, WAt¢h¢8,th018 artefa¢ts, records papers.
kn¢ks magd2ine4 epherntr4 POthi4 cn8ravin8sand othtt horolo8ica] itcms andTelatcd ilalls. th¢ majoriiy vf which ar¢
on display in the Clo¢kn￿keTs, Museum at the Science Museum or stOTed at the Science Mu$¢yn), the Guildhtill Libr¥y
dIrnd0￿ Mctropolitan Archivtt8. The Chuity als0 owms acoJl¢ttioJJ of silver. oth¢rpJat4 rryalia and b*Jges. No items
. the Clockmaker5' C4)Il¢ction ar¢ within thex a￿0￿DI*
4. Sl•tem¢•t on P4bll¢ B¢Nfft
ThcTruste¢ W coJJfinD5 that they Imve cornplied withthe thty in section 4 of theCIwbii¢sAcl 2011 w bavtth* r¢88rd
trj publitbenefft 8uidamct publishpj lryth¢Charfftty Conunission in ￿tI*MIlDingthe activitiL*undeztsk¢n by th¢CJwritthl¢
In th¢p&st kn¢ial yew. the CIDckm#kEfS' Chwity hos •worded 8Mts to a wide v*1etyofwoi¢¢￿ b¢nefilting itioividul
Uden￿ 8nd traitting in&ilution& A5 wdl ￿ publi¢ ¢lorks throughoui the City ofLo)th and UK in oddition to small
8f8llts to a v8riety of Charities within the City of LknndoD.
The Court of As8isthnts ar¢ s&tisfied that ttll Brants gi￿ wtte iti lin¢ with tl* ¢h¥Jilabiepwp¢￿$ of th¢ Ch9Jiry, and that
the grants given werc fotrth¢public ben¢fit.

THE WORSUIPFiJL COMPANY OF CIA)CKMAKERS
THE CLOCKMAKERS. CHA
TKUSTEE5' Af¥NUAL RKPORT AND FINANCIAL STATKMEI¥T8
FOR THE ITAR ENDED 31 o￿oBER 2023 (ContIN￿ed}
The Collection Fund ¥upports thc Museum. Library and ATchiv¢. Thes¢ are available to tbe public at no ¢harg< eiihero
open a￿e$S or byprior appOintll￿nI foTs¢holarlypuryoses. Thecourt of A$5istsnts aresitisfied that the Museum. Ltbrary
and Ar¢hive are admTn2s1ercd in line with the ch¥itable of the aurily. that ihey contribute lo Ihe public
bcnefit. bthng opentoth¢public fre¢]y or byarrangem￿1, foriheuse Of$tt￿¢￿rs of horology,hislOria￿ and oilLcrinler&4tcd
m¢mbers of ihe publi
5. A<hi•v¢m¢nts Perforwn¢e *Dd Futhre Artiwltiee
InY¢5tmcnt income has increased to £73,963 this year wmp4w¢d with £66.662 in 2022. Donations reccivcd alwl I￿￿0￿¢ tox
re￿¥¢rabl¢ amoun*d to £70,76512022- £62.024), b{￿ y¢ars in¢ludin8 a dortation oY£30.000 fm the Gu)rge Daniels
Edwtional T￿￿.
TheThJsl¢¢ Body considws that Ihe main emphasis thtsuld be iowèrds the following Objttts of the (brity'.-
l. Support to and prizes forth¢ promotion of ethuiion ond M¢ar¢h for ihos¢ Involv￿ with PT*ical borology attd
th¢ history of timekwithg.
2. Other deserving eouse$ 8s may be rewmm¢nded by the Collection Committee OT Charity Commititt includin8
sUp￿rt of the Lord Mayor's Appeal.
Having approv￿ the ¢on¢ept of annual temporary exhibiliorts within rhe museum. Ihe Charity had agrthl to undcrwrite
the necessary Ballery Works and furnishings to ihe sutTr of £IOO,000. Some £20,000 had been raised in the previous year.
The balance of £85.144 was roi5ed in 2022-23. Aorordinglyj the WTnplcle sum iequiTtd was ￿l$ed by exlemal
fundrnisiiig.
Of this sum £52.984 was spent display ca5¢s and £20,059 ij) r¢5P¢ft of cost5 relatiDg to the Brequet Fxhibition. Thc
sts have been capitalised and are being expensed io Ihe in¢othe and expenditure a¢¢ourtt (kver IhTee yea
Duritt8 the ye4r, the Collecliort reteivtd by thnJti¢Jn '• 5Ct of viatth corks. from the AntiquWi￿ Horolo8icai knidy,
and 'Benethh ihe Dial. by Sunny D2ik.
In r¢sFrt of •rtd edu¢81ion, the Hoin Sanders Tsppenden Fund made two buT5ary Sw￿￿5 l¢xallin8 £5,000 to two
students ot West Deajj fnlkge. and £9.611 to ihe BHI on beh￿r of 10 Clockmakers. Company Apprenti¢¢5 An payment
for Examinalioji enty fees and the purchase of BriiistrL HoroloBical Instltule's Di51ancE Ixarniijg cours¢5 to bc used by
Clothngkers. CompaTry Appr¢nti¢¢s.
Jn addition to Ihes¢ awatds, tlr Charity fuThdcd rnrntoring for thr 4ud¢ntN thr wholc w5t of which w&$ mct, and will
continue to be mel by th¢ Line4 2 Charitsbl¢ Fowidation. up ¢0 a totsl sym of £ILXIIM)O.
Durin8 the year, from the Urtrth¢t￿l Fund, Ihe Tharity madc donations foT hoTologird projert grants &8 follows..
L¢ihtw*>dine Parish Chur¢h £1,000, Codf¢)rd St Pctrr £l.iY)O. St Martin's Desford £500. S¢ St¢ph¢n's Bath £l.000. St
Cl¢ob￿Y £500. SIEdw8rds Kni8hwn £750.Blumhthn PaTigh Chur¢h £750, Sl Mary's Chtllwi £2.500.
The Charity donated £2,100 in respect of prizu tostudents at Binningham City UniveT5ity. thc BHI to UnTrversity
Colleg¢ LoDdon Obwvatory.

THE WORSHIPFIJL COMPANY OF CLOCKMAKERS
THE CLOCKMAKERS, CHARITY
TRUSTEES, ANNUAL REPORT AND FINANCIAL STATEMENIS
FOR THE YEAR ENDED 31 OCTOBER 2•23 (C•ntlnued)
Athlevemwrti *Rd Perfornance •¢tsvitkn4 {witl¥wl)
donations totsTlittg ￿,43{￿2022.. £4,095) were mad¢ from thtUJwthi¢ted Futsj iti suplkn of:
415
415
210
210
2C
2(
210
500
525
315
185
730
315
of l￿d0
H¢lp Musicians UK
Friends of Highg8tc Cemdery
Unitcd Guilds UGS
GaTda) of R¢m¢mbranc¢
Royal Briiish Loion tJty of i￿rA10Th Poppy Ap￿￿1
City Hw4¢5t L
St Pw15 Cath&lrai FwThdaiio
Shcriffs & Recorders Fund
Livery Sthools LiD
Gre¢ttwich DO￿ord And Rotr*rhitht Sta Cad￿$
GuildHall SchoolsTnL
.430
Th¢ 4bov¢ in ¢h¢ tabJ¢ below.
dents 4t West DAI
rainin8 expeiises
"nAble4 ¢0 #¢
nher sbjdy WOTkin8towards
'ri¢ation. Excdlenl
9,633
bled JppMtitt5 1088iD
f&ssional qualifi¢atitsn$
.8] for theITlo￿-fts
s, and th¢ fviur¢ of the
der
awards for atttiinment in
logy aDd rdoted fields
ft¢a)iivising *udents attd
iding r¢sourcrs for iheth to
inuetheir sradiffj i[Kh￿Lrt
b]i¢ Cjrth
ration of hwit￿# 88s¢¢s
¢s¢n•tton for fllbjre
¢rations. BEn¢fit to the I￿1
muni
i¢f of porty
erable
aTidy of Cily ChaTiiies
4,430

THE WORSHIPFUL COMPANY OF CLOCI<mAI￿Rs
THE CLOCKMAKERS, CHARITY
TRUSTEES, ANNUAL REPORT AND FIIYAIYCIAL STATEMENf6
FOR THE YEAR ENDED 31 OCTOBER 2023 (Cfjnt1nU￿)
5. A¢hi¢v¢mtots And Performance alld Futur¢ ¥liviti# (￿￿tinued)
No &w2rd ofthe aorkrnakcrl Derek Prth Prize wa5 made 2022-23.
The Derek Pratt Prize is an award of £20,000 to honour those indivithials oroffganisations of any nation vhose wwk beDrs
sam¢ swdards of inno￿•tiO￿ wuity, elcganc¢ prrtision, WOrkm￿shiP and p¢¥sevcrance as the work of the l*¢
Dttek Pratt.
Nominaiions for thc award considered by Awards Pancl and are 8ubj.ect to approval. The award of th¢
Ptizc wa% in June 2014 to Martin Burg￿8 for lifaime achievements in horology. The second award made in 2018 10
Charles Frotsham & Co Ltd for the d¢velopm¢ni and laU￿h of their new wriSt-W￿(h tn¢(wMing 8 doLhbl¢ imp¥ls¢
The operation of the Clockmak¢J¥' Museum is the respottsibtlity of Chariiy,. This iogetknu wilh maintaining and
¢nh8n¢itJ¥ thvb(wlo8ical wll¢<tion will remain the tnain focus ofthe Charity's activity in the futUTe.
The B¢dy h&8 resolved to retain reswves such that as far &8 ￿)SsIble future intome will ￿ sufffjcicnt. and roiRLr& to
thanges in the ecoDomic ¢lim41¢, lo ¢nable ¢ontiNing Suppoft of th¢ Charity's obj¢ciiYes athd A¢tivili¢8. At the year
thr a￿0￿11 kld in tf5Ctvr5 W85 £1922.240 (2022- £2.851.474).
The Hain SaDd¢rs Tappenden Fun4 that funds Res¢ar¢b and Personal Dcvdopmem aw8rds for qualified clockmakers
se¢king to salt) new skills is a r¢stricicd fund Ihat forms part of thc rescrvc5. The Hain Sand¢r5 Furtd now in¢ludes the
TAppendets Fund that o r¢thta¢d Fund withJ"n the Mus¢um & Ed¥caiiona] TNst {M&E Twst), transfeTrd to the
Clockniakers, Charity ¥ part of th¢ M&E Thist An May 2017. Noti¢¢ is given on the Clo¢km4ktts' C￿partY websile,
www.¢lO¢kmaktts.o￿ about the Fun4 and the procedurc for applyin8 for awards.
RSik Mam8g¢m¢r4
Risks to which thc Charity may b¢ wscgptibl¢ hev¢ bea) id¢ntifi¢d and a Risk Regi$l¢r been devdopr4J as A
managernenl 100] to rnanag¢mitj￿ioTh WI￿ and where appTopTiate.

ThE WORSHIPFUL COMPANY OF CIA)CI<MAKERS
TrusrEES' ANNUAL REPORT AND FINANaALSTATEMENIS
FOR THE YEAR ENDED 31 OCTOBER 2123 {Condpy¢d)
7. Stottm¢Dt of tkn rewMlblllll# of the Tru#e¢ f•tr the th1￿¢￿1 thtemefjts
ITheTn￿ is rcquiral to Fwart accowTJts forca¢h firwKia] tviod whi¢h Bive a tm¢ and fair view of theswe of affairs
of the Charity which Compl￿ 4 ststemetht of the ineome And expendit￿Te of the Charity and a swem¢nt of il5 ass¢ts aud
In pr¢pArinB thc Th&e¢ isryt￿l kn.,
{a)
mainlain suithbl¢ rfLorfs of ilstr¥nsllctionsTthieh di*lo*.with rtuonable •¢¢urncy. the fin￿181 position ofthe
Charity at any timc,
5¢J¢¢¢ guitsbk a¢¢ouDtiDg policies and appty Ih¢m consistethiy.
st** wh¢ther the a¢¢ounting policit5 ￿ in rt¢OTdanee with th¢ Charity Commission's 'A￿￿ntIng and
Rewting by Chtirities.. Staternent of R¢conJmendBd Pr¥rtiv" publish¢d in 20151"SORP 201VI sybjert to
dcputures disdosed and explaina in lh¢ account
pry¢ th¢ &-$oin8 ¢oA¢em b%qis" Nntess li is In￿propriate ￿presUmeth81tht Chwity will cojthiie
its y¢tivitie
make judgements knd &gti]n1tr5 thkt are r¢llllonable prudon4
sJf¢Kuard the rn of lh¢ Charity.
take rewnaN¢ gt¢p$ io prevent and drA¢¢t and other iff¢gularities.
Ib)
(¢)
(d)
(¢)
(D
8, lllvutmwt pow¢
1kcThis*c L5 ￿QWered by theTrust to inve# funds at its tholute discr¢tion.
On behalf of the1trust
K¢Jth A. Scobitryoungs FBHI ACR

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 OCTOBER 2023
TO THE TRusfEE OF THE WORSHIPFUL COMPANY OF CLOCKMAKERS
THE CLOCKMAKERS. CHARITY
I report to th¢ Trusl¢e5 on my examination of th¢ p*¢ow)¢s orth¢ Charity for rhe year ended 31 Octol)er 2023 whith 4r¢ sei
out on pages 9 to 16.
pe¢tlve Tewnslblllde5 of trniteÈ& and
The truste¢s ar¢ r¢spoAsible for the prq)ardtion of the aceollnts in o¢tordan¢e with the requirements of rhe Chorities Act
2011 ('Mh¢ 2011 Ad'l The tru5t¢es are sati8fJ¢d ihat an audit is not required for this year under *¢tion 144(2) of th¢
Chawitics Act 2011 {Ih¢ 2011 Art) and have choseo Ansiead 10 have an indep¢ndthi examination.
I r¢port in rcspect of my examingtion ofihe Trust's accouDts as ¢aTried out under S￿¢10￿ 145 of th¢ 2011 Act. In CallyiDg
out my ex8minatJon I have followed the T¢quir¢meJll$ of the applicable Dwrction¥ given by the ChaEity Commi55ion wnd¢f
section 145(5)(b) of the 2011 Act.
lthdéptndeot examiner's rtatement
I have completed my examio2¢io￿ l ¢onfiThn tILat rthj matters have com¢ to my attention givin8 me to believe that in
#Dy materi81 resTrtcl:
accountitag ￿OrdS w¢r¢ I￿1 kcpt in re5pe£t of th¢ chtirity &% requir&1 by Se￿10n 130 of tbe 2011 Att" or
the accounts do n(pt acmrd with thL>S¢ rccord4' or
Ihe accounts do not comptywith Ib¢ oppli¢able requirettk¢nt5 concerntng the fornl and content of arcwnts set oiit
in theC￿nti￿8{AC¢oun¢s ond Report$}Rtgulations I￿8 other than any requiretnent tkal the accounts give 8tTue
and fair view which 15 not a matttr considetrA Ls part of independent eXa￿]natiO
I havc no con¢¢ms and have ¢om¢ aer05s no oth¢r malt¢rs in ¢(￿lI0n with ihe examination to which ￿¢Mu¢D should
be drawn in this report in orderto enable a propcr undcrst8nding of the ￿(QU￿5 to bc rcachrd.
D•Yld A•JreivJ BS¢ MBA FCA
Nonha¢r¢
Deetleap Road
W¢stcott
Suu¢y RH4 3LD

THE WORSBIPFULCOMPANY OF CU)CKMAKZRS
THE CIA)CKMAKERS' CHARITY
BALANCE SHEET
31 ocfoBER 21ll3
Notes
2023
2022
FIXED ASSETS
QuotNI investments
Royal Albert H411 Box
Display c4s¢s
2.197.979
65ffjOC
35,299
2,124J04
650.1
883,278
2,774J04
St￿k
1,361
36,593
5,851
1.859
30,790
61.678
Cth at bank
43.805
94.327
CRED11X)RS: lalll•K due
Qthef ¢reditoTs
(4.843)
{17,357)
r4YT CUIUIENT ASSETS
3&962
76.970
A&SETS
£2.921240
£2,851,474
uNR￿￿TRICTED FUND
Gcncr21 (page 10)
627.620
558345
RFSTRICITD FUNDS (pase 10)
I1￿110n F￿ld
Ilain Sanders Toppend¢n Fbnd
DBrdt Pratl Trize Fund
1.780.891
296.840
216.889
1.770.1
307,480
215J89
2294.620
2.293,129
4922340
£2￿5}.4?4
The fiTMncial *atemcnts wffe approved authori%41 for i&we by th¢Thi&tees on 26M￿¢b 2024 aJd w¢r¢ si
ithw wh itsbcha]f by..
Keith A. Scc4)ie.YourwFBHI ACR

THE WOIi8HIPFUL Co￿(PANy OF CLOCKMAKERS
THE CLOCKK4KKRS' CHARITY
STATEMENT OF FINANCIAL A￿lYrri￿ (INCORPORATING AN INCOME AND EXPBNDITURE
ACCOUNT)
FOR THE YEAR ENDED 31 0￿0B￿R 2023
R•Jtri¢ted Fulldl
D Frgtt
Prlze
Umrestrided
Fwnd•
Hal
Sandtn
T8ppetLden
Total
Fund$
Totgl
FuDds
Coll¢¢tlo
2023
2023
20
2022
INCOME FROM:
Bresuet fund rai￿r
Inv¢s¢D)¢nt income
Royal Alt¢rt Hall Box incom
CoD¢¢ll￿ ofpoorBoA
Royaltics intomt
Donation8 rcceivtd
Charity fuTM]ed mffllorin8 scIKmc
PrnfTrt {los$) on sale of merchandise
PrDfLV(tw} on Clockmakers of
85.130
12,764
85,130
73,963
35,521
350
261
70.765
14.054
1.575
471
18,855
66,662
20,135
1.450
493
62.024
4.199
234
1,191
7.292
7.501
35.521
350
261
31131
38,634
14,054
268
29
J.307
442
151,229
7,292
7501
116.C68
282.090
175,243
EXPENDITURE ON:
Dirttt Charitablc Ex￿milt1¥t
Manag¢Tn¢rt and admirti5tr*ion of
the charity
70.055
14,633
76.828
161.516
123.823
8,355
1.247
1.216
15.355
26.173
24,146
78.410
15.880
1.216
92.183
187.689
J47.969
NET INCOME BEFORE GAINS
I(LOSSES) ON INVLSTMKNTS
72,819
{8.588)
6.285
23,885
94.401
27,274
OTHER RECOGNISED CAINS
Af4D (LOSSES)
Unrcalixd nct 8ainl{lo&s) on
iftvesiments
Realis¢d nd 8ainl{loss) on SAie of
inVthn¢nis
(8,405)
(4.866)
15.864) 130,964)
{50,099) (395,913)
4,861
2,814
879
17,910
(3,958)
(3,544)
(2.052)
{4,9851
(13.054)
(23,635) (399,871)
NET INCOMEMEXPENDITURE)
69.275
(10,640)
1.300
10.83L
70.766
{372,597)
FuThd balance brought forwllrd
558,345
307,480
215,589
.770,060
2,851.474 3,224,071
FUND BALANCE CARRIED FORWARD
AT 31 OCTOBER 2Tr23
£627.620 £296.840 £216,889 £1.780,891 £2,922,240 £2,851,474
The stateNJenl of financial activitics includes all ¥uins &)d Losytt reco¥nisaf in thc year.
All illcome and ¢xp¢ndilwr¢deriv¢ from ¢oniinuing aclivill
Tb¢ notes OJ pages I I to 16 forni part of these finan¢iai 4atements. comparati￿ flgures are sh¢)wn in not¢ I l.
10

THK WORSHIPFiJLCOMPANY 011 CLLICKMAKERS
THE CLOCKMAKERS. CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED3J o￿oBER 2023
AccoiNriNG POLICIES
The financial ststcll*nis have been pr¢par&l on the biBwri¢ c05t conycntion with the ex¢rytion that investments
e V￿lled atmarkd valu& The a¢¢ount$ ar¢ in accordwKe with ftFyli¢ablea¢couJMins Accooniing and
R¢poTtin8 by Charities: Ststem¢nt of R¢¢omm¢nded Pra¢tic¢ Vplichblc to Clwities pr¢parin8 th¢ir 3ccouni$ in
accordanc¢ with FRS 102 Sedion IA and tomply w&th the Ctrtarities {A￿o￿nts and R9￿8) RwlAtions 2(K18
and thc Charities Act 2011.
Thc Cbvity th¢ aockm•k¢rs' Collextiw dethils of which listed Èection 3 of the TDLSt¢e$' R¢port.
No ￿1￿81]0￿ of this Co1]eCti￿ is inclttded in these finawial #¥t¢ments.
In￿lm￿ we included at ¢losin8 mid-markct value* the ￿8fte£ Sh¢¢t th, Any gAin or loss on revthatiDn
OTdiwal 1$ to the Statem￿1 of FinaD¢ia] Adivi¢i¢s.
The Funds 08 daailed in note 2 8Te inVe￿ell in a TaT]ge of ¢oTAnI￿ and industrlal equitic4 fixtd Antettat
inve5trne￿ aDd unil Intsts.
St￿k 18 valuol at th¢ lower QT net re411￿1¢ val￿.
Ikwttialion of display cases is written ottoyer 3 year&
Invest￿￿ awj rtherin¢om¢ reeeivel ar¢ a¢¢rAmtsJ f¢*r on the ae¢nAls b88iJ.
Qlrants pay8bl4 d(￿tionS but￿1¢5 and all othe¥ ￿p￿di￿re ar¢ uCc￿nted for when the t&li8ation is prob￿k.
FIXED ASSETS. InY¢8nnents
Pooltd FuTrdi D•rek Pr•tt
Mèrk¢t valu¢ l NOv¢mi￿r 2022
AddiitOnS
Pmceed8 of disp058ls
R¢a]jxd {Ios5) IgaiTh6
Net (1￿) 1Éoin on r¢valu•tion
1,904396
496205
{401.490)
25.585
(44235)
213,034
12.910
{9.074)
879
(5,864)
1117.4JO
509,115
(410J64)
26.464
{50.099)
Market Valu¢ >1 2023
1.980.461
211 J85
2.192.346
Casb •w￿ling reinv¢*ment
630
5.(Kb3
5.633
1.981,091
216.888
1197.979
£1.774.605
188.227
£1.962I32
FIXED ASSETS- Dhpl*y C*•
Addltltsll•
51948
Cost 1131 Odober 2tr23
2.948
l•r ye*r
17h49
Depr•el*don at 31 Ort•bw 2023
£17.fA9
Net book #t 31 (ktsb¢r21)23
£35299

THE WORSRIIPFUL COMPAf4Y OF cLOcK￿Rs
THE CU)CKMAKERS' CHARITY
NOTFS TO THE FINANCIAL STATEMENTS (eontknued
FOR THE YEAR ENDED 31 OCTOBER 2023
FIXED ASSETS- Royal Albcrt Hall Box
The Royal AlbErt Hall Box was bequeathed ￿ ihe Worshipfvl Company of Clo¢kmakers' Chgrity by the late
Reginald Beloe. The ChaTity rcccive5 incom¢ frorn the Prerniurn Ticket Relurn Schemc QPCTHted by Ihe Hall.
The Box valued by the Trnstees in 2017 at a Mark¢i Valllt of £650,0(Kl, and this was review&1 by the
F&KPC in 2023 and lefi unchangcd.
DIRECT CHARITABLE EXPEIYDITURE
2023
2022
Unreitrirted Fuwj
Donations
Prizfs
c￿al08￿1Th8 Projtct
Diplomas
Restsration of SilverColl&tiOD
Consetvation of Frc*tsham Memorial
Subscriptions
Tru*¢es Insurnnce
Trainin
Mentoring c05t8
Livery Schw15 Showt*%e
13.030
2.140
6.320
1.300
30,740
5C4)
408
,398
225
506
125
447
55
5.199
14.054
494
Bwuet ExblbltloD
Display materials
Diw¢g1 ¢4alosu¢
Travel
Advertisirt8 and photo8Tapty
R#¢plion
Sundry expmse5
Depreeiation of dI￿18Y ¢&%ts
13.583
i.joo
42
U64
2J69
17.619
C•MectloD
Assiswii Ke¢p¢r's f¢¢s
Curntor's sal*ry and p¢n5ion costs
Curatoriol Adviser
4,413
43.3SO
4,160
40.792
4,754
Purch￿ of RippDn Portrait
Display and lora8¢ ¢OSLS
Restoration ¢ost8
Travel and ￿mMOdatIOn
Oiher sundry dxpcn5CS
Tnining
Collcction photography and digltisation
T[￿Sport
3,960
4.795
I,7￿)
175
3(M)
62
(si)
876
2,730
826
Haln S•oderJ Tappenden AwKd
HST Awatdg
14,633
11,907
£161,516
£123,823
12

THE WOKSHIPFUL COMPANY OF CLOCI(MAKF
NOTES TO THE FINANCIAL STATEMENTS (tomlIn￿td)
FOR nix YEAR ENDED 3] ocfoBER 2021
MANAGEMENT AND ADMINISTRATION OF THE CHARITY
2023
2022
AccouThtan¢y
CDJ]tribution to Worshiphl C￿paDY of Clwkmak¢rs staff ¢oaF
Portfolio #dvisory ¢h*T
Sutblry expetbses
2.150
9.￿0
12,398
2.625
2.0
iuii
935
£26,173
£24.146
COVENATh AND DONATIONS RF£EIVED
2•2J
2D22
Don*ion frDrn the George DanielsEducational Thisr
(Xh¢r donations T￿¢1¥¢0 (I￿l￿ding Bregu¢l fundraisu)
30.￿XI
105.267
20,628
30.f
45.401
5,478
£155.895
£8Q.879
TRUSTEE REMUNERATIO
The rvxived no rM)uncTr¢ion or Teimt•j￿UThtrn of during th¢ year 8ttV¢ 8$ th¢
Related Party Trwdions Noie (nott 71
REIATED PARTY TRANSACTIONS
Mr F Brodi¢ was pid £4.413 for his ¢kng¢s as Assisiant KeeFtr. Mr Brodi¢ is a L4veryttwi of the Ww&hipful
Cornpany of athakcr& An ￿o￿TrI of £1.1)￿ in respect of CMTaknial Advis¢r's fee was paid toMT J Bttts
who is a rD¢mb¢r of ¢h¢Covrt of A$5iStants of the WoTsbipful Company of Clockniak•
£10.133 waspaid10 th¢BHI.Pkn M*erDavid PooleisVice-Pr¢sident ofth¢BHI. Ju$1in KoullapTr$ isa Direetor
of thc BHI. Dr Jws Ny< Keith Scobi￿yo￿1￿S. J￿￿thIn M8Tk EIIiDti Philip Whyl¢, Roy Ilattxs,
kn￿hall Hill4 Anthony Gray. ROl￿rt Wren. Ralph B8iw, Howard Ncwnan arc m¢mbess of the BH[.
£300 w&8 awarded ts a pyiz¢ to A y*dulltin8 9IUd￿bt of Bimiin8hwn City Uthiv¢tsity. Th¢ d¢p8TtsnexJt 15 nm by
WCC Liv¢rym8n J¢y¢my Hobbtns. A ￿tal of %5,fy)O was bLw$2ries fortwo stydents ￿ W¢st De*n
Colkg& Junior Wath Robcrt Wrcn is a visittng le0￿rer at the ColkB& £sc￿ Ewarded to a 5tytht of
University Colkge LA)ThJoh c￿. As5i51ant Dff P*rlTr￿ 1$ i co1￿J]lan1 to the Obserntthy.
Tht Charity paid £5,(4)Oiow•rd5 ¢hufth ¢lo¢k r¢stornlion project4 execthed by TheCuM￿s￿ CJo¢k C4mpAny,
of which K¢ith S¢ob1¢•Youn￿iS a diff¢toi and hay 8 finAncial int￿¢8¢ in that ¢ompany. Th¢ ClockmakerJ'
Charity had no Tole in awarding thtcontr2cts. K¢ith S¢obitrYoyn8É did not pwticipzte in discussion5 about
Granis for m¢Moring w¢r¢ rv*ive41 from the Litiea 2 Charitabk F¥nd. Jonathaj Bett& Dr JaTns5 Ny< Keith
Scobie-youngs and Richard Staming are advisers to the fund £2.345 w&% ￿ld to Pasl Mas1er Roy Harrii for
m¢ntOTih& U.538 w*s paid to w m&%1￿ David Poolc for mcsjtori
The av•a8¢ )wnihty nurnberof anployees duriJ8 theY￿r was thbe (2022.. on¢1
13

THE WORSHIPFUL COMPANY OF c1￿cl￿AKERs
THE CLOCKMAKERS. CHAIUTY
iYOTL8 TO THE FINANCIAL STATEMENTS (¢ontIn￿ed)
FOR THE YEAR ENDED 31 OCTOBER 2011
ANALYSIS OF FUND A&SETS AND LIABILrriES
CURRENT YEAR
Unrntrlcttd
Total
Funth
FIX￿ A￿ InV￿at$
Cutrent Ass&s
cU￿ent Liabiliues
1883.278
43.805
(4.843)
600,286
30.484
(3.150)
2282.992
13,321
(1,693)
£2,922.240
£627,620
294.620
PRJOR YEAR COMPARATtVES
Rutri¢ted
F4￿d$
Totsl
Fixed Inv¢Am¢Dts
Cuveni Assas
Cuwrcnt Liabilities
2,774ll04
94,327
(17.357)
478.142
86,518
(6J15)
2,296.362
7,809
(11.042)
£2,851,474
£558,345
£2,293.129
APPORTIONMEI¥T BETWEEN FUNtK8
Inwming resour￿, ittvesttttent m#n¥em¢nt fw together with r¢alistyJ aThJ uwealis&l gail￿1rJsfj¢4 are
appon10n￿ between the restricted and ynr¢stri¢rat funds pro Ma ￿ the balance on each fund at lh¢ b¢ginnin8 or
the financial yeAr or from whcn ncw futth wcrc ￿￿e1ved duri￿8 th¢ finan¢ial year. This is with tbe exception of
the Duek Pfatt Priz¢ Fund where duc to the separate Investm￿15 h¢ld it$ investhiellt maDaBernent cosls are
allocated directly. Accountancy and aJeapportioned in&Co￿anCe with tkebudgct5prepared ittadvanc¢
of thcyear. Sundry expcnscs 8tc allocated lo the &Fecific fiJDd thcy relate to.
14

THK WORSHIPFUL COMPANY OF CLOCKMAK
THE CLOCKMAKERS, CHARITY
NOTL%TO THE FINANCJAL STATEMENTS (co*tlnMt41)
FOR THE YEAR ZI4DED 31 ocfoBER 2023
li.
COMPARATIVE FIGUR
Re¥trk1￿
D PTott
TotAI
Prize Colle¢¢loll FMnd•
Unreknlcted
Dd•
HalD
Sgnders
TappeKdeD
21122
2022
2022
2022
Noles
INCOMKFROM:
Br¢gua fjjnd rriser
Investrnt￿ income
Roya] Albert Hall Box int47rnC
Cont¢nts of P(￿r Boi
Royalii¢s I￿orne
18,855
11,395
18.855
06.662
20.135
1.450
493
62.024
6J73
863
41131
2Q,135
1,450
493
31,031
3Q993
Lyles ￿¢1yed
Charity fvAde41 Mell¢￿1￿8 the
PJofii Oo&sJ on 8￿e of merdwidi&t
PJofiUIl￿$$) on aockmakers of
4.199
234
4,199
234
.191
67,126
573
6.863
94,681
17534Y
EXPEPIDrruRE OF4:
Dirwt Ch•ritabl¢ Expthditure
man¥8￿¢￿ and adminithtion of
the ¢hority
44.$94
11.907
67,322
123.823
5,559
1.430
1207
15950
24.146
50.153
13.337
1207
83272
147.969
NET INCOME BEFORE GAINS
IIIDSSES) ON Ir4vKsfMENTS
1fi973
(6.764)
5,656
11.409
27,274
OTHER RECOGNISED GAINS
Af4D ILOSSES)
Unreaiistd 8atiV{105$) on
invc*rntsits
Rea]1￿1 net gainlllos81 on sfftie of
iDv¢s¢m¢nts
(68.614)
(39,724) (34.785) (252.790) 1395,913)
(596)
(345)
(823)
(2,194) {3.958)
(69,210)
(40.C69) (35.608) (254,984) 1399.871)
{46.833) (29952} (243.575) (371597)
NET INCOMFJ(EXPEIWDinJRE)
(52.237)
Fund balance broughi forw•Td
61Q582
354,313
245J41
1013.635 3J24.071
FUND BALANCE CARRIED FORWARD
T 31 OCTOBER 2022
£558.345
£307,480 £215.589 £1,770.060 4851.474
Is

THE WORSHIPFUL COMPANY OF cLoCK￿￿(ERs
THE CLOCKMAKERS. CHA
IYOIES TO THE FINATr4CIAL STATEMENTS (eoDtinkned}
FOR THE YEAR EM)ED 31 ocfoBER 2023
12.
CONTINGENT LIABILITIES
FTVM the Collection Fund:
coll￿110n Pholography. The Court ha5 approved £2AO(Q in expenditure pl￿09raphY of ik¢ ¢olledion, of wh*h
£&500 15 OUt4aTding.
FTOM Unrestricted Fw)ds:
Thecourt has approved pledEes of £10.051 to 4 thurrhe5 and one village hall fOrre￿oratIO1¥ works to tkn twtet clo¢k&
The Cowt has approv¢d an bwsary of £S.(KXJ to West Dean College.
FTOM Hain Sanders TAHJendett Fund:
The Court Iw apprnv¢d $wJtwi 4mountin8to £6.(K)O to ￿PP)rt th¢ ￿udi&S of company appmitice&
16