|Reports||
|---|---|
|Legalandadministrativeinformation|1|
|Trustees'report|2|
|Independentauditor'sreport|6|
##
|Accounts||
|---|---|
|Statementoffinancialactivities|10|
|Balancesheet|12|
|Statementofcashflows|13|
|Principalaccountingpolicies|14|
|Notestotheaccounts|18|
##
|Trustees|MrMRMathews|
|---|---|
||MrMJSamuel|
||MrsRFBower|
||MrAMGregory-Smith|
|TheClerk|BrigadierTJGregson|
|Registeredaddress|Carpenters'Hall|
||ThrogmortonAvenue|
||London|
||EC2N2JJ|
|Charityregistrationnumber|276996|
|Auditors|BuzzacottLLP|
||130WoodStreet|
||London|
||EC2V6DL|
|Bankers|BarclaysBankPLC|
||1ChurchillPlace|
||London|
||E145HP|
|Investmentadvisors|TheInvestmentsCommitteeofTheWorshipful|
||CompanyofCarpenters|
|Solicitors|WedlakeBellLLP|
||71QueenVictoriaStreet|
||London|
||EC4V4AY|
|Surveyors|DanielWatneyLLP|
||165FleetStreet|
||London|
||EC4A2DW|
|Investmentmanagers|WavertonInvestmentManagementLimited|
||21StJames'sSquare|
||London|
||SW1Y4HB|
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||||||2022|2021|
|---|---|---|---|---|---|---|
|||Unrestricted|Restricted|Endowment|Total|Total|
|||funds|funds|funds|funds|funds|
||Notes|
£|£|£|£|£|
|Income|||||||
|Donations|1|
446,011|48,003|-|494,014|362,118|
|Investmentincome|2|934,175|-|-|934,175|822,229|
|Otherincome||—||—|—|439|
|Totalincome||1,380,186|48,003||1,428,189|1,184,786|
|Expenditure|||||||
|Costofraisingfunds|3|267,153|-|-|267,153|223,587|
|Charitableactivities|4|
1,425,897|46,600||1,472,497|1,331,482|
|Totalexpenditure||1,693,050|46,600|-|1,739,650|1,555,069|
|Netexpenditurebeforegainson|||||||
|investments||(312,864)|1,403|-|(311,461)|(370,283)|
|Gainonrevaluationofinvestment|||||||
|property|8|50,000|||50,000|400,000|
|(Losses)gainsonlisted|||||||
|investments|8|||(1,011,063)|(1,011,063)|3,084,196|
|Netincome(expenditure)and|||||||
|netmovementinfunds||(262,864)|1,403|(1,011,063)|(1,272,524)|3,113,913|
|Reconciliationoffunds:|||||||
|Fundbalancesbroughtforwardat|||||||
|1July2021||8,259,082|122,612|27,606,302|35,987,996|32,874,083|
|Fundbalancescarriedforward|||||||
|at30June2022||7,996,218|124,015|26,595,239|34,715,472|35,987,996|
||||||2021|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Endowment|Total|
|||funds|funds|funds|funds|
||Notes|`£`|`£`|
`£`|
`£`|
|Income||||||
|Donations|1|
309,063|53,055|-|362,118|
|Investmentincome|2|822,229|||822,229|
|Otherincome||439|—|—|439|
|Totalincome||1,131,731|53,055||1,184,786|
|Expenditure||||||
|Costofraisingfunds|3|223,587|-||223,587|
|Charitableactivities|4|1,281,742|49,740||1,331,482|
|Totalexpenditure||1,505,329|49,740|-|1,555,069|
|Net(expenditure)incomebeforegainson||||||
|investments||(373,598)|3,315|-|(370,283)|
|Gainon revaluationofinvestmentproperty|8|400,000||-|400,000|
|Gainsonlistedinvestments|8|||3,084,196|3,084,196|
|Netincomeandnetmovementinfunds||26,402|3,315|3,084,196|3,113,913|
|Reconciliationoffunds:||||||
|Fundbalancesbroughtforwardat1July2020||8,232,680|119,297|24,522,106|32,874,083|
|Fundbalancescarriedforwardat30June||||||
|2021||8,259,082|122,612|27,606,302|35,987,996|
||Notes|2022|2022|2021|2021|
|---|---|---|---|---|---|
|||`£`|`£`|`£`|`£`|
|Fixedassets||||||
|Investmentproperty|8||7,500,000||7,450,000|
|Listedinvestments|8||26,239,721||27,488,435|
||||33,739,721||34,938,435|
|Currentassets||||||
|Debtors|9|344,568||384,003||
|Short-termdeposits||502,504||502,504||
|Cashatbankandinhand||366,324||359,429||
|||1,213,396||1,245,936||
|Liabilities:||||||
|Creditors:amountsfallingdue||||||
|withinoneyear|10|(237,645)||(196,375)||
|Netcurrentassets|||975,751||1,049,561|
|Netassets|||34,715,472||35,987,996|
|Thefundsofthecharity:||||||
|Fundsandreserves||||||
|Capitalfunds:||||||
|Endowmentfunds|11||26,595,239||27,606,302|
|Incomefunds:||||||
|Restrictedfunds|12||124,015||122,612|
|Unrestrictedfunds||||||
|.Designatedfunds|13|7,744,383||7,706,298||
|.Generalfunds||251,835||552,784||
||||7,996,218||8,259,082|
||||34,715,472||35,987,996|
##
|||2022|2021|
|---|---|---|---|
||Notes|£|£|
|Cashflowsfromoperatingactivities:||||
|Netcashusedinoperatingactivities|A|(1,603,446)|(1,375,642)|
|Cashflowsfrominvestingactivities:||||
|Investmentincome||934,175|822,229|
|Proceedsfromthedisposaloflistedinvestments||8,017,946|4,975,463|
|Purchaseoflistedinvestments||(7,824,502)|(4,987,767)|
|Netcashprovidedbyinvestingactivities||1,127,619|809,925|
|Changeincashandcashequivalentsintheyear||(475,827)|(565,717)|
|Cashandcashequivalentsat1July2021|B|2,192,766|2,758,483|
|Cashandcashequivalentsat30June2022|B|1,716,939|2,192,766|
##
||2022|2021|
|---|---|---|
||£|£|
|Netmovementinfunds(asperthestatementoffinancialactivities)(1,272,524)||3,113,913|
|Adjustmentsfor:|||
|Gainoninvestmentproperty|(50,000)|(400,000)|
|Losses(gains)oninvestments|1,011,063|(3,084,196)|
|Investmentincome|(934,175)|(822,229)|
|SharesreceivedfromWorshipfulCompanyofCarpenters|(438,515)|(302,701)|
|Decreaseindebtors|39,435|119,997|
|Increase(decrease)increditors|41,270|(426)|
|Netcashusedinoperatingactivities|(1,603,446)|(1,375,642)|
|Analysisofcashandcashequivalents|||
|---|---|---|
||2022|2021|
||£|£|
|Cashatbankandinhand|366,324|359,429|
|Shorttermdeposits|502,504|502,504|
|Cashheldbyinvestmentmanagers|848,111|1,330,833|
|Totalcashandcashequivalents|1,716,939|2,192,766|
##
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##
|Donations|||||||
|---|---|---|---|---|---|---|
||||2022|||2021|
||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
||funds|funds|funds|funds|funds|funds|
||£|£|£|£|£|£|
|DonationfromTheWorshipful|||||||
|CompanyofCarpenters|438,515|-|438,515|302,701|-|302,701|
|Otherdonations|7,496|48,003|55,499|6,362|53,055|59,417|
||446,011|48,003|494,014|309,063|53,055|362,118|
|Investmentincome|||||||
||||2022|||2021|
||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
||funds|funds|funds|funds|funds|funds|
||£|£|£|£|£|£|
|Rentalincome|441,033||441,033|309,133||309,133|
|Incomefromlisted|||||||
|investments|491,858||491,858|512,976|-|512,976|
|Interestreceivable|1,284||1,284|120|-|120|
||934,175||934,175|822,229|-|822,229|
##
|Costofraisingfunds-I|nvestmentm|anagement|costs||||
|---|---|---|---|---|---|---|
||||2022|||2021|
||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
||funds|funds|funds|funds|funds|funds|
||£|£|£|£|£|£|
|Investmentmanagers'fees|195,238||195,238|189,352|-|189,352|
|Investmentpropertycosts|71,915||71,915|34,235|-|34,235|
||267,153||267,153|223,587|-|223,587|
||||2022|||2021|
|---|---|---|---|---|---|---|
||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
||funds|funds|funds|funds|funds|funds|
||£|£|£|£|£|£|
|Grantspayable|1,361,938|46,600|1,408,538|1,236,940|49,740|1,286,680|
|Supportcosts|52,617|-|52,617|37,362|—|37,362|
|Governancecosts(note5)|11,342|-|11,342|7,140||7,140|
|Donations|-|-|-|300|-|300|
||1,425,897|46,600|1,472,497|1,281,742|49,740|1,331,482|
##
||||2022|||2021|
|---|---|---|---|---|---|---|
||||Total|||Total|
||Grantsto|institutions|funds|Grantsto|institutions|funds|
||£|No.|||No.||
|BuildingCraftsCollege|1,265,213|1|1,265,213|1,139,381|1|1,139,381|
|Othereducation|61,500|2|61,500|56,984|2|56,984|
|Other|81,825|13|81,825|90,315|20|90,315|
||1,408,538|16|1,408,538|1,286,680|23|1,286,680|
||||2022|||2021|
|---|---|---|---|---|---|---|
||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
||funds|funds|funds|funds|funds|funds|
||£|£|£|£|£|£|
|Craftactivities|1,311,213|46,600|1,357,813|1,180,881|49,740|1,230,621|
|CityofLondon|8,000|-|8,000|13,000|-|13,000|
|Religiousorganisations|5,325||5,325|6,175||6,175|
|Youthandchildren's|12,400||12,400||||
|organisations||||6,784||6,784|
|Miscellaneous|25,000|-|25,000|30,100|-|30,100|
|2022Totalfunds|1,361,938|46,600|1,408,538|1,236,940|49,740|1,286,680|
||2022|2021|
|---|---|---|
||`£`|`£`|
|BuildingCraftsCollege|1,265,213|1,139,381|
|NortonFolgateTrust|48,600|49,700|
|Carpenters&DocklandsCentre|15,000|25,000|
|CreativeDimension|15,000|10,000|
|City&Guilds|10,000|10,000|
|NoGoingBack|10,000|—|
|InstituteofCarpenters|8,000|8,000|
|CarpentersPrimarySchool|6,400|784|
|Governancecosts|||
|---|---|---|
||2022|2021|
||`£`|`£`|
|Auditor'sremuneration|7,560|7,140|
|Taxadvice|3,782||
||11,342|7,140|
||2022|2021|
|---|---|---|
||£|£|
|Leaseholdinvestmentproperty|7,500,000|7,450,000|
|Listedinvestmentsincludingcashheldbyinvestmentmanagers|26,239,721|27,488,435|
||33,739,721|34,938,435|
||2022|2021|
|---|---|---|
|Leaseholdinvestmentproperty|£|£|
|Marketvalueat1July2021|7,450,000|7,050,000|
|Revaluationgain|50,000|400,000|
|Marketvalueat30June2022|7,500,000|7,450,000|
|Costat30June2022|5,628,312|5,628,312|
##
|Fixedassetinvestments(continued)|||
|---|---|---|
|Listedinvestments|2022|2021|
||£|£|
|Marketvalueat1July2021|26,157,602|22,758,401|
|Additions|7,824,502|4,987,767|
|SharesreceivedfromTheWorshipfulCompanyofCarpenters|438,515|302,701|
|Disposals(proceeds£8,017,946;realisedgains£66,898)|(7,951,048)|(5,352,245)|
|Netunrealisedinvestment(losses)gains|(1,077,961)|3,460,978|
||25,391,610|26,157,602|
|Cashheldbyinvestmentmanagersforreinvestment|848,111|1,330,833|
|Marketvalueat30June2022|26,239,721|27,488,435|
|Costoflistedinvestmentsat30June2022|21,756,566|18,942,893|
|Listedinvestments|2022|2021|
|---|---|---|
||£|£|
|UKequities|3,734,433|2,745,300|
|Overseasequities|17,012,822|19,340,889|
|UKfixedinterest|932,448|1,206,642|
|Alternatives|3,613,272|2,760,840|
|Commoninvestmentfunds|98,635|103,931|
||25,391,610|26,157,602|
##
|Debtors|||
|---|---|---|
||2022|2021|
|Duewithinoneyear|£|£|
|DuefromBuildingCraftsCollege|299,018|333,440|
|Prepaymentsandaccruedincome|31,287|37,970|
|Otherdebtors|14,263|12,593|
||344,568|384,003|
|Creditors:amountsfallingduewithinoneyear|||
||2022|2021|
||£|£|
|DuetoTheWorshipfulCompanyofCarpenters|44,961|37,401|
|Othercreditorsanddeferredincome|192,684|158,974|
||237,645|196,375|
##
##
||2022|2021|
|---|---|---|
||`£`|
`£`|
|Permanentendowmentfund|98,636|103,931|
|Expendableendowmentfund|26,496,603|27,502,371|
||26,595,239|27,606,302|
##
||||||At|
|---|---|---|---|---|---|
||At1July|Gainsand|At1July|Gainsand|30June|
||2020|losses|2021|losses|2022|
||`£`|`£`|`£`|`£`|`£`|
|HenryOsborneAwardfund|90,498|13,433|103,931|(5,295)|98,636|
##
||||||At|
|---|---|---|---|---|---|
||At1July|Gainsand|at1July|Gainsand|30June|
||2020|losses|2021|losses|2022|
||£|£|£|£|£|
|Stratfordfund|24,431,608|3,070,763|27,502,371|(1,005,768)|26,496,603|
##
|Restrictedfunds|||||
|---|---|---|---|---|
||At|||At|
||1July|||30June|
||2021|Income|Expenditure|2022|
||£|£|£|£|
|Carpenters'LiveryAwardfund|117,640|41,403|(40,000)|119,043|
|Sycamorefund|1,972|-|-|1,972|
|StuckeyAwardfund|3,000|6,600|(6,600)|3,000|
||122,612|48,003|(46,600)|124,015|
||At|||At|
||1July|||30June|
||2020|Income|Expenditure|2021|
||£|£|£|£|
|Carpenters'LiveryAwardfund|114,285|43,355|(40,000)|117,640|
|Sycamorefund|1,972|-|-|1,972|
|StuckeyAwardfund|3,000|7,700|(7,700)|3,000|
|KetlessAwardfund|—|2,000|(2,000)|—|
|Other|40|-|(40)|-|
||119,297|53,055|(49,740)|122,612|
##
||At||||At|
|---|---|---|---|---|---|
||1July|New|Utilised/|Investment|30June|
||2021|designations|released|gains|2022|
||£|£|£|£|£|
|Investmentpropertyfund|7,450,000|||50,000|7,500,000|
|Maintenancefund|256,298|55,000|(71,915)|-|239,383|
|Master'sgiftfund||5,000||-|5,000|
||7,706,298|60,000|(71,915)|50,000|7,744,383|
||At||||At|
||1July|New|Utilised/|Investment|30June|
||2020|designations|released|gains|2021|
||£|£|£|£|£|
|Investmentpropertyfund|7,050,000|-||400,000|7,450,000|
|Maintenancefund|302,360|55,000|(101,062)|-|256,298|
||7,352,360|55,000|(101,062)|400,000|7,706,298|
##
##
||General|Designated|Restricted|Endowment|Total|
|---|---|---|---|---|---|
||funds|funds|funds|funds|2022|
||£|£|£|£|£|
|Fundbalancesat30June||||||
|2022wererepresentedby:||||||
|Fixedassetinvestments||7,500,000||26,239,721|33,739,721|
|Currentassets|489,480|244,383|124,015|355,518|1,213,396|
|Creditors:amountsfallingdue||||||
|withinoneyear|(237,645)||||(237,645)|
|Totalnetassets|251,835|7,744,383|124,015|26,595,239|34,715,472|
||General|Designated|Restricted|Endowment|Total|
||funds|funds|funds|funds|2021|
||£|£|£|£|£|
|Fundbalancesat30June||||||
|2021wererepresentedby:||||||
|Fixedassetinvestments||7,450,000||27,488,435|34,938,435|
|Currentassets|749,159|256,298|122,612|117,867|1,245,936|
|Creditors:amountsfallingdue||||||
|withinoneyear|(196,375)||||(196,375)|
|Totalnetassets|552,784|7,706,298|122,612|27,606,302|35,987,996|
##
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