## 



|Legal and admimstrative|Legal and admimstrative|information||
|---|---|---|---|
|Members ofthe Court|of|Assistants||
|Trustees' report||||
|Independent<br>auditor's|report||13|
|Accounts||||
|Statement offinancial|activities||16|
|Balance sheet|||18|
|Statement ofcash flows|||19|
|Principal accounting|policies||20|
|Notes tothe accounts||||





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|Grants, analysed by type, as defined on the previous<br>page, ar|e as follows:||||
|---|---|---|---|---|
||2022||2021||
||E'000|No.|E'000|No.|
|Tocharities:|||||
|Single|1,110|207|656|187|
|Multi-year|1,935|143|2,368|177|
|Charities sub-total|3&045|350|3,024|364|
|Toindividuals|294|91|261|123|
|Total grants awarded in year|3,339|441|3,z85|487|



|||2022||2021||
|---|---|---|---|---|---|
|||E'000|96|E'000||
|Charitable<br>Sector||||||
|Education||1,024|31|1,050|32|
|Leather Associated||187|6|141|4|
|Advice||150|4|168|5|
|Community<br>Support||z88|9|244|7|
|Creative Arts||103|3|127|4|
|Criminal<br>Justice|8 Rehabilitation|104|3|88|3|
|Disability||142|4|234|7|
|Domestic & Sexual Abuse||460|14|343|10|
|Employability||43||92|3|
|Food 8 Essential|Provisions|6z|z|6z|z|
|Heritage<br>8r Environment||51|I|21|I|
|Homelessness||226|7|221|7|
|Health||241|7|185|6|
|Recreational<br>&Out ofSchool Activities||224|7|287|8|
|Services Support|8 Rehabilitation|34||22|I|
|Total||3,339|100|3,285|100|





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||||||||||Expendable|Permanent|||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||General|Restricted|endowment|endowment|Total funds|Total funds|
||||||||fund|funds|funds|funds|2022|2021|
|||||||Not.es|s'ooo|e'000|c'000|c'000|c'000|s'000|
|Income:|||||||||||||
|Donations||||||||264|||264|172|
|Investment|income|||||1|1,646|27|||1,673|1,487|
|Total income|||||||1,646|291|||1,937|1,659|
|Expenditure:|||||||||||||
|Cost ofraising funds|||||||||||||
|Investment|management|costs|||||||208||208|193|
|Expenditure|on charitable|activities|||||||||||
|Charitable|grant making|||||2|3,372|292|||3,664|3,539|
|Total expenditure|||||||3t372|292|208||3,872|3,732|
|Net expenditure<br>before||transfers|||||(1,726)|(1)|(208)||(1,935)|(2,073)|
|Transfer between<br>funds||||||9|2,529||2,529)||||
|Net income|/ (expenditure)||before gains on investments||||803||(2,737)||(1,935)|(2,073)|
|Unrealised|gains on investinent|||property||5|||3,145||3,145|765|
|Net realised|and unrealised||(losses) / gains||||||||||
|on investment<br>portfolios||||||6|||(4,637)|(10)|(4,647)|12,012|
|Net income|/ (expenditnre)||and|net movement|in|funds|803|(1)|(4,229)|(10)|(3,437)|10,704|
|Reconciliation offunds:|||||||||||||
|Total funds|brought<br>forward||as at 1August 2021||||649|6|71,724|532|72,911|62,207|
|Total funds|carried forward as|||at 31July 2022|||1,452|5|67,495|522|69,474|72,911|





||||||||||Expendable|Permanent||
|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||General|Restricted|endowment|endowment|Total funds|
||||||||fund|funds|funds|funds|2021|
|||||||Notes|E'OOO|E'OOO|E'OOO|E'OOO|E'OOO|
|Income:||||||||||||
|Donations||||||||169|||172|
|Investment<br>income||||||1|1,464|23|||1,487|
|Total income|||||||1,467|192|||1,659|
|Expendil, ure:||||||||||||
|Cost ofraising funds||||||||||||
|Investment<br>management||costs|||||||193||193|
|Expenditure<br>on charitable|activities|||||||||||
|Charitable<br>grant making||||||2|3,350|189|||3,539|
|Total expenditure|||||||3,350|189|193||3,732|
|Net expenditure<br>before|transfers||||||(1,883)||(193)||(2,073)|
|Transfer between<br>funds||||||9|2,076||(2,076)|||
|Net income / (expenditure)||before||gains on investments|||193||(2,269)||(2,073)|
|Unrealised<br>gains on investment||||property|||||765||765|
|Net realised and unrealised|||(losses) / gains|||||||||
|on investment<br>portfolios|||||||||11,910|102|12,012|
|Net income<br>/ (expenditure)|||and net movement||in funds||193|3|10,406|102|10,704|
|Reconciliation<br>offunds:||||||||||||
|Total funds brought<br>forward as||||at 1 August|2020||456|3|61,318|430|62,207|
|Total funds carried forward|||as at 31July 2021||||649|6|71,724|532|72,911|





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||||||2022|2022|2021|2021|
|---|---|---|---|---|---|---|---|---|
|||||Notes|E OOO|E'000|E'OOO|E'000|
|Fixed assets|||||||||
|Investment|property|at|market value|||18,955||15,810|
|Investment|portfolios at market value|||||49,520||56,798|
|||||||68,475||72,608|
|Current assets|||||||||
|Debtors|||||231||68||
|Cash at bank and in ha,nd|||||1,079||433||
||||||1,310||501||
|Liabilities:|||||||||
|Creditors: amounts||falling due within one year|||(311)||(198)||
|Net current|assets|||||999||303|
|Total assets|less current||liabilities|||69,474||72,911|
|The funds|ofthe Foundation:||||||||
|Permanent|endowment||funds|||522||532|
|Expendable|endowment||funds|9||67,495||71,724|
|Restricted funds||||10||5||6|
|Unrestricted|funds||||||||
|General fund||||||1,452|||
|Total Foundation<br>funds||||||69,474||72,911|





|||||||||2022||2021|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||Notes||E000||E'000|
|Cash flows from operating|activities:||||||||||
|Net cash used in operating|activities|||||||(3,658)||(3,692)|
|Cash flows from investing|activities:||||||||||
|Investment<br>income||||||||1,673||1,487|
|Proceeds from the disposal|ofinvestments|||||||48,941||13,788|
|Purchase ofinvestments||||||||(4z,o56)||(11543)|
|Net cash provided<br>by investing<br>activities||||||||8g58||3.732|
|Change in cash and cash equivalents<br>in the|||year|||||4,900||40|
|Cash and cash equivalents|at I August|zozi||||||555||515|
|Cash and cash equivalents|at 31July 2022|||||||5,455||555|
|Notes to the slalement of|cash flows|for the||year to 31July 2022.|||||||
|A Reconciliation ofnet movement||in funds||to net cash used||in operating|activities||||
|||||||||2022||2021|
|||||||||E'000||E'000|
|Net movement<br>in funds (as per the statement||||offinancial|activities)|||(3,437)||10,704|
|Adjustments<br>for:|||||||||||
|Losses / (Gains) on investments||||||||1,502||(12,777)|
|Investment<br>income||||||||(1,673)||(1,48V)|
|(Increase) in debtors||||||||(163)||(66)|
|Increase<br>/ (decrease) in creditors||||||||113||(66)|
|Net cash used in operating|activities|||||||(3,658)||(3,692)|
|B Analysis ofcash and cash equivalents|||and reconciliation|||ofnet funds|||||
||||||||IAugust|2021|Cash Flows|31July 2022|
|||||||||E'000|EO,OOO|E'000|
|Cash at bank and in hand||||||||433|646|1,079|
|Cash held by investment<br>managers||||||||122|4,254|4,376|
|Total cash and cash equivalents||||||||555|4,900|5,455|





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|||General|Restricted|Total|General|Restricted|Total|
|---|---|---|---|---|---|---|---|
|||fund|funds|2022|fund|funds|202I|
|||E'OOO|E'OOO|E'OOO|E'000|E'000|E000|
|Rents from UK investment|property|731||731|592||592|
|Income from investment|portfolios|914|27|941|872|23|895|
|Bank deposit interest||1||1||||
|||1,646|27|1,673|1,464|23|1,487|



|||||Grants|Support|Total|Grants|Support|Total|
|---|---|---|---|---|---|---|---|---|---|
|||||payable|costs|2022|payable|costs|202I|
|||||E'OOO|E'OOO|E OOO|E000|E'000|E000|
|Education||||1,024|100|1,124|1,050|81|1,131|
|Leather Associated||||187|18|205|141|11|152|
|Advice||||150|15|165|168|13|181|
|Conununity|Support|||288|28|316|244|19|263|
|Creative Arts||||103|10|113|127|10|137|
|Criminal<br>Justice||8|Rehabilitation|104|10|114|88|7|95|
|Disability||||142|14|156|234|18|252|
|Domestic 8 Sexual|||Abuse|460|45|505|343|27|370|
|Employability||||43|4|47|92|7|99|
|Food 8 Essentials|||Provision|62|6|68|62|5|67|
|Heritage<br>8 Environment||||51||56|21|1|22|
|Homelessness||||226|22|248|221|17|238|
|Health||||241|23|264|185|14|199|
|Recreational|& Out ofSchool|||224|22|246|287|22|309|
|Services Support||8r Rehabilitation||34|3|37|22|2|24|
|||||3,339|325|3,664|3,285|254|3,539|





|Analysis ofgrants payable|Analysis ofgrants payable|2022<br>No.|2022<br>8'000|2021<br>No.|202I<br>6'000|
|---|---|---|---|---|---|
|Grants toinstitutions:||||||
|Education||39|750|37|809|
|Leather Associated||15|167|9|121|
|Advice||21|150|26|168|
|Community<br>Support||64|288|53|244|
|Creative Arts||15|103|20|127|
|Criminal<br>Justice 8 Rehabilitation||9|104|10|88|
|Disability||28|142|35|234|
|Domestic 8 Sexual Abuse||40|460|31|343|
|Employability||9|43|9|92|
|Food &Essentials<br>Provision||7|62|20|62|
|Heritage<br>8 Environment||4|51|13|21|
|Homelessness||20|226|33|221|
|Health||41|241|26|185|
|Recreational<br>8 Out ofSchool||28|224|35|287|
|Services Support<br>8 Rehabilitation||10|34|7|22|
|Grants to institutions:|Total|350|3,045|364|3,024|
|Grants to individuals:|Education|86|274|86|241|
|Grants to individuals:|Leather hardship|5|20|37|20|
|||441|3,339|487|3,285|





|2. Expenditure<br>on charitable|2. Expenditure<br>on charitable|2. Expenditure<br>on charitable||activities: charitable|activities: charitable|grant making|(continued)|||
|---|---|---|---|---|---|---|---|---|---|
|Grants payable include the||following|||grants ofe20,000or more.|||2022<br>e'Ooo|2021<br>sooo|
|Advice||||||||||
|Women's<br>Work (Derbyshire)||||||||20|20|
|Community<br>Support||||||||||
|Separated Child Foundation|||||||||34|
|Be Free Young Carers|||||||||27|
|Community<br>Solutions<br>North|||West Ltd|||||20|20|
|Valleys Kids||||||||25||
|Tros Gynnal<br>Plant (TGP Cymru)||||||||25||
|Shoreditch Trust||||||||20||
|Ihe Enthusiasm<br>Trust Ltd||||||||22||
|Ihe Violence Intervention||Project||||||20||
|Creative Arts||||||||||
|Oily Cart|||||||||20|
|Ihe Big House||||||||20||
|Criminal<br>Justice 8 Rehabilitation||||||||||
|Key4Life||||||||20|20|
|A band ofbrothers||||||||20||
|The Hardman<br>Trust||||||||39||
|Domestic and Sexual Abuse||||||||||
|Iranian<br>& Kurdish<br>Women's|||Rights||||||20|
|My Sister's Place||||||||20|20|
|Port Talbot and Afan Women's||||Aid||||20|20|
|Fermanagh<br>Women's<br>Aid||||||||20|20|
|The River Manchester|||||||||27|
|Latin American<br>Women's|Aid|||||||20||
|Safeline||||||||25||
|Insight Counselling<br>Coaching||||and Support||||20||
|Moira Anderson<br>Foundation||||||||20||
|Street Teams||||||||20||
|Education||||||||||
|Guildhall<br>School Trust|||||||||25|
|Colfe's School ~||||||||300|420|
|Leathersellers'<br>Federation||ofSchools||||||145|174|
|Khulisa||||||||25||
|Football Beyond Boarders||||||||25||
|RCN Foundation||||||||20||
|Ihe Guildhall<br>School Trust||||||||25||
|Food and Essentials Provision||||||||||
|World Central Kitchen||||||||50||





## 

|Grants payable include the following|Grants payable include the following|Grants payable include the following|grants ofE20,000or more.|grants ofE20,000or more.|grants ofE20,000or more.|grants ofE20,000or more.||2022<br>E'000|202I<br>E OOO|
|---|---|---|---|---|---|---|---|---|---|
|Health||||||||||
|The Listening Place||||||||20|20|
|The UK Sepsis Trust|Ltd||||||||20|
|Blue Smile||||||||20||
|Noa Girls||||||||23||
|Manchester<br>Action|on Street Health|||||||25||
|Women Counselling|and Therapy Service|||||||25||
|Heritage and Environment||||||||||
|Saint Mary the Virgin Parish Church||||||||40||
|Homelessness||||||||||
|Baron's Court Project||||||||20|20|
|Park Lodge Project|||||||||40|
|The Bond Board||||||||20|20|
|'Ihe National<br>House|Project|||||||25||
|Burton upon Trent|Ik District|||||||25||
|Leather Associated||||||||||
|Cockpit Arts||||||||25|22|
|University<br>ofNorthampton|||||||||40|
|London College ofFashion||||||||22||
|The Leather Conservation||Centre||||||20||
|Recreational||||||||||
|BIGKID Foundation||||||||20|20|
|Youth Adventure<br>Trust||||||||22||
|Total ofaggregate<br>grants E20,000and|||over|||||1,358|1,069|
|Other aggregate<br>grants<br>under 820,000||||||||1,687|1,955|
|Grants to individuals|under|the Leathersellers'||University||Exhibitions|Scheme|274|241|
|Grants to individuals|under|the Leather Hardship|||Scheme|||20|20|
|||||||||3,339|3,285|





|3. Support|costs||||2022<br>K'OOO|2021<br>E000|
|---|---|---|---|---|---|---|
|Staff costs (note 4)|||||203|179|
|Leathersellers'<br>Company||management||charge|45|42|
|Governance|costs —Auditor's||remuneration||12|11|
|Other costs|||||65|22|
||||||325|254|



|Staff costs and remuneration|ofkey management|personnel|2022<br>R'OOO|2021<br>E'000|
|---|---|---|---|---|
|Staff costs were:|||145|130|
|Social security costs|||12|11|
|Pension contributions|||41|34|
|Medical insurance|||5|4|
||||203|179|





|5. Investment|property|||2022|202I|
|---|---|---|---|---|---|
|||||E'OOO|E000|
|UK long leasehold<br>land||and buildings||||
|Market value at|1 August|2021||15,810|15,045|
|Unrealised<br>gain||||3,145|765|
|Market value at|31July 2022|||18,955|15,810|
|Historic cost of|investment|properties|at 31July 2022|4,977|4,977|



|6. Investment<br>portfolio|||||||2022|202I|
|---|---|---|---|---|---|---|---|---|
||||||||E'OOO|E'000|
|Investments|||||||||
|Market value at 1August 2021|||||||56,676|46,909|
|Add: Purchases at cost|||||||42,056|11,543|
|Less: Proceeds from sales|||||||(48,941)|(13,788)|
|Net realised and unrealised<br>(losses) Igains|||||||(4,647)|12,012|
|Market value ofinvestments<br>at 31July|2022||||||45,144|56,676|
|Cash held by managers<br>at 31July 2022|||||||4,376|122|
|Total market value at 31July 2022|||||||49,520|56,798|
|Total historic cost ofinvestments<br>at 31||July|2022||||42,098|34,535|
|%he investment<br>portfolios at market|value||comprises:||||||
|UK investments<br>listed on a recognised|stock||exchange|(Cazenove||8 M8 G)|9,085|22,205|
|Overseas investments<br>listed on a recognised|||stock exchange||(Cazenove)||35,912|34,329|
|Unquoted<br>investments<br>(Goldman Sachs)|||||||147|142|
|Totalinvestments|||||||45,144|56,676|
|Cash|||||||4,376|122|
||||||||49,520|56,798|
|The quoted Investments<br>are held:|||||||||
|Directly|||||||44,475|34,456|
|Indirectly,<br>through<br>unit and investment||trusts|||||522|22,078|
||||||||44,997|56,534|





|The following<br>investment|The following<br>investment|holdings were material|in the context ofthe investment|portfolios as at 31 July 2022:|portfolios as at 31 July 2022:|||
|---|---|---|---|---|---|---|---|
|||||2022|2022|2021|2021|
|||||E'OOO||E000|96|
|Astrazeneca<br>pic||||2,277|5.0|||
|Microsoft|Corp|||2,908|6.4|||
|S4 Capital|pic|||||3,054|5.4|
|Rathbone|Global Opportunities|||||6,777|12.0|



|Creditors: amounts|falling due within|one year|2022<br>E'OOO|2021<br>E'000|
|---|---|---|---|---|
|Rents received<br>in advance|||161|127|
|VAT paya,ble and other|taxes||25|22|
|Other creditors|||125|49|
||||311|198|



|8. Permanent|endowment|endowment|funds|Balance atIAugust 2021|Gains and losses|Balance at 3t July zozz|
|---|---|---|---|---|---|---|
|||||E'OOO|E'OOO|E'OOO|
|Ann Elliott and||Others Trust||532|(10)|522|
|||||Balance at I August 2020|Gains and losses|Balance at 31July 2021|
|||||E000|E'000|E000|
|Ann Elliott and||Others Trust||430|102|532|





|9.|Expendable|endowment|endowment|funds|funds||||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||Balance at|Gains||Balance at|
|||||||1|August 2021|and losses|Transfers|31July 2022|
||||||||e ooo|K'OOO|S'OOO|E'OOO|
|'Ihe|Leathersellers'||Foundation||Funds||71,724|(1,700)|(2,529)|67,495|
||||||||Balance at|Gains||Balance at|
|||||||i Augus(. zozo||and losses|Transfers|31July 2021|
||||||||e'000|e'000|e 000|e'000|
|Ihe|Leathersellers'||Foundation||Funds||61,318|12,482|(2,076)|71,724|



||||Balance at|||Balance at|
|---|---|---|---|---|---|---|
|1O.Restricted|funds||1Augllst 2021<br>E'OOO|Income<br>E'OOO|Expenditure<br>e'ooo|31July 2022<br>8'OOO|
|University<br>Exhibitions||fund||69|(70)||
|Relief ofthe Poor fund||||67|(67)||
|Leathersellers'|Personal|Giving fund||85|(85)||
|Jubilee fund||||70|(70)||
|||||291|(292)||
||||Balance at|||Balance at|
||||1August 2020|Income|Expenditure|31July 2021|
||||E000|E000|E000|E'000|
|University<br>Exhibitions||fund||63|(60)||
|Relief ofthe Poor fund||||40|(40)||
|Leathersellers'|Personal|Giving fund||89|(89)||
|||||192|(189)||





|11. Analysis|ofnet assets between funds||||||||
|---|---|---|---|---|---|---|---|---|
|||Permanent|Expendable||||||
|||endowment|endowment||Restricted||General|Total|
|||funds||funds|funds||fund|2022|
|||E'OOO||E'OOO|E'OOO||E'OOO|E'OOO|
|Investment|property|||18,955||||18,955|
|Investment|portfolios||522|48,540|||458|49,520|
|Debtors|||||||231|231|
|Cash at bank and in hand|||||||1,074|1,079|
|Creditors|||||||(311)|(311)|
||||522|67,495||5|1,452|69,474|



|||Permanent|Expendable||||
|---|---|---|---|---|---|---|
|||endowment|endowment|Restricted|General|Total|
|||funds|funds|funds|fund|2021|
|||E'000|E'000|E'000|E'000|E'000|
|Investment|property||15,810|||15,810|
|Investment|portfolios|532|55,914||352|56,798|
|Debtors|||||68|68|
|Cash at bank and in hand|||||427|433|
|Creditors|||||(I98)|(r98)|
|||532|71,724|6|649|72,911|



|Iz. Financial commitments|2022|2021|
|---|---|---|
||E'OOO|E'000|
|Payable in the year ending 3IJuly:|||
|2022||1,821|
|2023|z,o83|1,063|
|2024|1,288|64O|
|2025|8oz|z36|
|zoz6|72||
||4,245|3,760|





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