2023-03-31-accounts - The Wax Chandlers' Charitable Trust

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Contents		Page
Trustees' Annual Report		14
Independent Examiner's	Report	5
Statement ofFinancial AcbvrTies		6
Balance Sheet		7
Notes to the Accounts		844
Derailed Statement ofFinancial ActtvrTies with Comparatives		16

			Expendable	Unresbicied	Restricte	Trrisl -	Expendable	Unrestricte	Restricted	Total
			Endowment	Funds	Funds	Funds	Endowment	Funds	Funds	Funds
			2023	2023	2023	2023	2022	2022	2022	2022
		Nots	E	E	F	f	E	E	5	5
INCOME AND ENDOWbf ENTS		FROM:
Donations and legacies		3		20,367	173,801	194,168		49,093	171,053	220,145
Legacies					10,000	10,000
Investments		4		25,137		25,137		22,490
Total income and endowments				45,504	183,801	229,305		71,583	171,053	242,636
EXPENDITURE ON:
Invsstmsnt manager's fees			4,058	1,855		5,913	3,813	1,743		6,655
Grants				17.852		17,862		27,382		27,382
Fund raising costs				820		820		1,988		1,968
Recharged expenses				10,978		10,978		5,784		6,764
Independent Examineris fee				2,010		2,010		1,980		1,980
Bank fees				72		72		97		97
Pollinating London Together					147,930	147,930			54,992	54,992
Exchange rats variance				(81)				(3)
Total expenditun.			4,068	33,506	147,930	185,576	3,813	38,930	54,992	97,737
Net gains/(losses) on investments			(10,421)	(4,764)		(15,185)	62,275	28r466		90,740
Net incomlngl(oulgolng)	resources		{14,480)	7,234	35,571	28,625	58,462	61,118	118,061
Net movement in funds			('l4,480)	7,234	35,871	28,625	68,462	61,122	116,061	235,642
Reconciliation offunds:
Total funds brought forward			699,671	353,328	147,398	1,200,396	541,209	292,210	31,337	964,756
Total funds cerned forward			685,192	360,562	183,267	1,229,022	899,671	353,328	147,398	1,200,396

3	Income from donati	ons	and	legacies
					2023	2022
					5	5
	Cash donations	(including		tax recoverable)	204,168	220,145
	Legacies				10,000
					214,168	220,145
4	Investment income
					2023	2022
						5
	Income from listed investments				24,398	22,477
	Interest receivable				739	13
					25,137
5	Raising funds
					2023	2022
	Investment management			costs	8	8
	Investment manager		fees		5,913	5,555
					5,913	5,555
6	Grants payable
					2023	2022
					5	5
	R.Paul's Cathedral		Foundation		1,301
	William Kendall's	Charity -		candles for St.Paul's	2,191
	National Honey Shaw				8,000	7,153
	BeesAbroad				2,920	4,300
	British Beekeepers Association				'l,100	1,250
	RAF Benevolent	Fund			500	500
	RAF Coningsby				300	500
	StVedast				1,013	378
	City ofLondon				375	375
	A Briscombe				750
	WCCJ Ridler				714
	LCSCAnnual Subs				100
	City Special Events				188
	SLiu				200
	Trustees ofthe UGS				200
	BeeFarmers Association					7,000
	Welsh Beekeepers Association					6,000
	Fellowship ofClerks					740
	Hayes &Finch St.Mary's Secret	Garden (Buzz in the City)			~2,000 17852	186 ~7,000 27,382
	Recharged expenses
					2023	2022
	Stalf costs				10,000	5,000
	Office costs				978	764
					10.078	5.704

d Asset Investments
				2023	2022
					E
Listed investments
Fair value at 1 April 2022			1,105,055		876,826
Fees charged				(5,913)	(5,555)
Income re-invested Movement in unrealised Movement in exchange	gains/(losses) rate			436 143,044 (15,185) 90,740 81 ~33
Fair value at 31 March	2023		1	084393	1 105055
Fixed Asset Investments	include	both the Unrestricted	and Restricted funds.	For further
mation, see note 17ofthe accounts.
asset allocation within investments		was as follows:
				2023	2022
				E	E
UK Holdings				480,828	441,446
Overseas Holdings				603,565	520,310
Cash held for reinvestment					143,299
			1	084303	1 105055

	NOTES TO THE ACCOUNTS	NOTES TO THE ACCOUNTS	NOTES TO THE ACCOUNTS	NOTES TO THE ACCOUNTS	NOTES TO THE ACCOUNTS
	FORTHE YEAR ENDED 31MARCH 2023
During the year the movements			in the charity's funds were as follows:
				Incoming	Outgoing	Gains snd	Movement
				fesoUIces	IesoUfces	losses	in funds
							F
Expendable Endowment	Fund				(4,058)	(10,421)	(14,480)
Unrestricted funds				45,504	(33,506)	(4,764)	7,234
Restricted funds
Hall Fabric Fund				14,980			14,980
Pollinating London Together				168,821	(147,930)		20,891
TOTALFUNDS				223,385	~785495	15.185	28625
Comparatives for movement		in	funds
					At01.04.21	Net	At 31.03.22
						movement
						in funds
						5	5
Expendable Endowment	Fund				641,209	58,462	699,571
Unrestricted funds					292,210	61,115	353,325
Restricted funds
Hall Fabric Fund					8,025	135,050	143,075
Pollina6ng London Together					23.311	(18,988)	4,323
TOTALFUNDS					964,755	235639	1,200,395
Comparative net movement		in funds, included		in the above are as follows:
				Incoming	Outgoing	Gains and	Movement
				resoUKes	I'esoUIces	losses	in funds
				F	5
Expendable Endowment	Fund				(3,813)	62,275	58,462
Unrestricted funds				71,583	(38,933)	28,465	61,115
Restricted funds
Hall Fabric Fund				135,050			135,050
Pollinating London Together				36,003	(54,992)		(18,988)
TOTAL FUNDS				242.638	~67.78	ltll,748	235,639

			Fixed	Current	Current	Total
			Assets	Assets	LiabiliTies
At 314)3-23				5
Expendable	Endowment		685,192			685,192
Unresbicted			241,147	132,445	(13,029)	360,562
Restricted		158,054 1 088393		25,213 157858	~13D29	183,288 1,229022
At 31%3-22
Expendable	Endowment		699,671			699,671
Unrestricted			262,309	94,997	(3,980)	353,327
Restricted		1	143,075 '105 D55	4,323 99320	~3980	147,397 1.20D.395

DETAILED PROFIT	AND LOSSACCOUNT FORTHE Y	EAR ENDED 31 MARCH	2023
		31.03.2023	31.03.2022
		E
INCOME AND ENDOWMENTS
Donations and legacies		194,168	220,145
Legacies		10,000
Other investment income		25,137	22,490
Total incoming resources		229,305	242,635
EXPENDITURE
Investment management	costs
Portfolio management		5,913	5,555
Charitable activities
Grants		'I7,852	27,382
Fund raising costs		820	1,966
Staffcosts		10,000	5,000
Ofgce costs		714	500
Pollinating London Together		147,930	54,992
Governance costs
Accountancy fees		2,010	1,980
Trustees insurance		264	264
Other
Bank charges		72	97
Exchange rate variance		(81)	(3)
Total resources expended		185,495	97,734
Net income/(expenditure)	before gains and losses	43,810	144,902
Net incomal(expenditure)		43,810	144,902