Clwity Re8tOnNth r8164 The Wax Chandlers, Charitable Trust Report and Accounts Year ended 31st March 2024
THE WAX CHANDLERS. CHARITABLE TRUST FOR THE YEAR ENDED 31 MARCH 2024 Contènts Pag• Trustees, Annual Report Independent Ex8minerfs Rep)rt Statement of Financral AclNibes Balae Sheet Notes to the Accounts Detailed Statement d Financial A¢tivikne5 wrth Comparatives 14 8-14 15
THE WAX CHANDLERS. CHARrrABLE TRUST FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEES REPORT The Trustees present the annual report and financial stat9ments of the ¢hartyfor the year ended 31 March 2024. The finanGial statements have bggn prepared in accordance with the CountIng porleS Set out in note 2 to the accounts and compty with the charity'8 trust deod, the Charttièg Act 2011 and A0ting and Reporting by Ch#frbes.' Statement of Recommended Practice applicable to charthes preparing their accounts in accordance th the Financial Reporting Standard appluble in the UK and Republ of Ireland- SORP FRS 102 (effecti 1 January 2019). ObJoctfvg8 and actSviti•s The objective of the charity 15 to make grants for general charitable purposes. The Trustees have agreed to continue to IKJnour earlier commthents made in perpetuty regardiry the suppty of candles at St. Paul's Cath•drl (former Aldrklge 8equestl and Ightham Church {fomier Ttssj Bequesti. Prionty 15 given lo the making of grants for the eOuragrnent of be•keepiry. for innovatlon aThJ advances in modem wax indu$ty. and tha drssemination of knoOdge regarding bee keeping and the modern use8 of wax. The Trustee payE due regard lo the Charity Commission's guidance on publ benefft. The Trustee8 have paid due regard to guidance issuad by the Charity Commissicn In d&iding which aetwtties the charty should undertake. A¢hi•vem•nts and p•rfomiancg Durlng IIE year the charfty awarded grants of £27,258 {2023.' £19,852) as Set in note 6. Thesa grants enabled the recipients to maintain and research into beekeeping, and lo conlinue The Vvax chandr$ Charitab18 Trust's ci)jectives of innovation and advanceg in the modem wax industy. and the dissemination of knowkdge regarding beekeeping and the modern uses of wax. The grants also enabled the continual supply of candles al Sl. Paul's Cathedral (f¢)rmer Aldridge Bequest) and Ighlham Church Ifomi&r Todd Bequest). The grants given also r815ed the prolile of The Worshipful Compary of Wax Chandlers (Trustee of The Wax Chandlers Charitable Trust) 8rKA anCra9ed new members to jthn the Company. Flnanclal revlthv The charity d¢rNes 118 income frcfn a portfolio ot investments and personal donations from members of The Worshipful Company of Wax Chandlers. There are no restrictK)ns in the Trust Scheme so the Trustee8 are bound by the prowslons of the Trust88 Act 2000 in respect of investment$. The Trustees. aim Is lo balance the ne&Js of present and future beneficiaries and as such aim to a¢hieve the best possible total return and follow a medium risk strategy. The Trustees aim to maintain the captsl of the investrn8nt funds al least in line th Inflation. The free reserves of the charty are retained to ensure th8 charity has sufficient reseNe$ to meet ts future ¢cMents whrch include staff costs, rrther overhead commitments and potenti inveBtrnent opportunilies. The fr89 reseNes at 31 March 2024 were £391.$4412023'. £360,562). Investment funds are managed on behaw of the Twstees by Cazerove Capital within tho charws investsnenl polrey. Invesknent retums. toth capital and income, are revivwed regarty and moniiored against the general investment m8rkeL Page 1
THE WAX CHANDLERS. CHARITABLE TRUST FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEES REPORT The market value of an liste(l investhents In¢[n9 ¢a$h al 31 March 2024 w88 £1,276,95612023.' £1,084,396}. There was a net gain on the inve8lments of £162,08712023.' netloss of £15,185). DurirvJ the year the chliy rthved inv&8tment income of £29,550 {2023.. £25,137) an i$? mpared to 2023 of £4,413 (2023.. an increase of £2.64n and committed £27,258 to grants (2023.. £17,852). Ai 31 Match 2024 each fund had odequale Tesources to fulfil the charty$ planned grant programme {8ee note 6). Structurei governanc• and managemgnt The governird dc¢ument of the charity IB the Trust D88d of 29 March 1979 amended by re801utpJn dated 22 June 1998 arKI 28 Mar¢h 2C4)8. The corporate Trustee is The Worshipful Company of Wax Chandlers la City Livery Comparyl, and its Court of Assistants (equivalent of a Board of Diredorsl are the charty Trustees within meaning of the charit Act 2011. New charty trustees are ekcted by COU Tho Court FS advised by the Charrfy Committee on all aspects of poli and *imini$tration. The day to day odminislration of the charlty Is undertaken by Ihg Clerk. The Trustee is notified of any updates lo any Charity CommissiC legi$1o1ion relevant to the charity and the way It operates. Rgf•r•nce and administration drfall$ of tho charlty. Its Tru8tsè and advlsèrs Wax Chandlers, Chartable Trust is a registergd charity no. 278164. The principal address of the charity is Wax Ch•ndlers' Hall, 8 Gre8ham Streel. London EC2V 7AD. Tho Trustee is Th8 Worshipful Company of Wax Chandlers. cp8rating under 8 charter granted by King Chad8811 on 23 NOVemr 1663. The m8mbeTS of tha Court ofthe Ccthpany Se as the Gharty Trustees wlhin the meaning of the Charitie8 Act 2011. The membership of the Crt during the year arKI up lo the date of the approval of the TNstee's Report i% shovm belthv.. Mast Dame Fiona Woom Dgputy Master Mr Timothy M81 Upper Warden Mrs Lynda Marston-weston Renter Warden Mr lan Appleton Page 2
THE WAX CHANDLERS. CHARITABLE TRUST FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEES REPORT Court Assistants Ms Margar8t Ginman Mr Robert Holland Mr Jonathan Simpson Mr Anthony Ward Mr Haydn Cole Mr Robert McLean Mr Andrew Blaand Dr Frank Cselik Mrs Gonstantin8 Firth Past Master Court A88lst•nts Mr John Sleanan Mr Peter TLJnpkin$ MrArthur Da Mrs Joan Be4ngton Mrs Susan Green MrAnthony Bmore Clerk Mr Rhard B Moule principal advisers to th• charlty arè: Bank•r5 Cafcash Limlted Kings Hill Wesl Malling Kent ME19 4TA Investment Managers Cazenove Capital 1 London INall Pla¢9 London EC2Y &4U Sollcltors Reedsmith Richardts Butler LLP Beaufort House 15 Sl Botolph Street London EC3A 7EE Indep•ndent Attountant Sarah Shearer FCA Emmaus Chartered Accountants 377-399 London Road Camberi8y Surr8y GU15 3HL Page 3
THE WAX CHANDLE CHARITABLE TRUST FOR THE YEAR E14DED 31 flARCH 2024 TRUSTEES REPORT Statamènt of trustws. responsibilltlgs Chanty law rèqwres the Trustees to prepara finani¥al 8tatsments fcf each financral year. whh give a Inje Bnd fair vièw of the stal? of affaKs of the charity of the Incom1 {(xrtgoW resources for thè year. In preparing the financial statemenlg the trusteas are reguir&J to: • Select suitable accounllng policies and apptythem consistenltr. Make judgements and 8sllmates that a reasonable and prLKlent'. and . Prfjparg the anc91 slalemwts on a goin9 c¥¥n(xrn bagis lesS it 1$ irwpri)prial8 lo do so. The Trustees are r8sw)n$ible for keeping propèr accounttyw rertS which disdos• reasonab18 accUcY al any tim& tha financial positson ofthe charity and to enable rt to ensure that the finan(xal statèmènts comptyvrilh Ihg Charities Act 2011. They are also responsible for safeguarding thè assets ol Iha charty arKI hence for tskln9 Steps for Ihe wevontion and d8tecttrt of froud and other irregularib8S. This report and th8 financial statements have begn wep8rgJ in acc(ffdance wilh.. . the proviwon5 of the Chaiib8s Acts,. and . statement of Recommend8d Prach¢e.' Acownling and Rew1ing by Chwthes k8suwJ on 1 January 2019. Ar4)roved bythe Truste on ...................................2024 and sNJned w Ihgir behall by.. D8me Frta Woolf Master ynda Marston-weston Upper Warden Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE WAX CHANDLERS. CHARITABLE TRUST {Ihe Charity.) I report to the d)aTty tru8tee8 on my 8xamlnatlon of the accounts of the Charty for tfr£ year ended 31 March 2024 which are $el out on pages on pages 610 7 folkywing. which have been prepared on the basi8 of the accountiro policies set out on pages 8 10 9. Regpon8ibilitie8 and bas18 of report As the charrtl3 trustees you are responsible for the preparation of the accounts in aCCd9nCe wth the r8quirgments of the Charities Act 2011 (Yhe Arf>. I report in respect of my examirbation of the charitys accounts carried out under section 145 of Ihg Ad and in carrying out my 8xaninalion I have followed all Ihg applicable Directions given by the Ch8r Commission under 59dK*n 145151(b) of the Act. Independent examlner's statom8nt I have completed my examination. l ¢onfimi that no material matter5 have me to my atention in nn8ction with the examination giving me Use lo bolle that in any material respect". 1. accounting records w918 not kept in respe¢l of the Charity a5 rgquired by section 130 of the Act,. or 2. the accounts do not acrd with those records; c 3. the accounts do not mpty th the appli¢abl8 requirements concerning the fonn and content of accounts set out in thg Charities {Accounts and Reports) Regulations 2008 other than any requirement that th? accounts give a 'lrue and fair which not a matter considered as part of an Indepgndent Examination. I have no coneerns and have come across no other matters K) ¢onrttlK)n with the examination to whh att&nlion strKJuld be drawn in this report in order to enable a proper Ltnderstanding of the accounts to be reached. Sarah Shearer FCA Mgmber of the Institute of Chartored Accountants England & Wales Emmaus Chartered Accountants 377-399 Lo1 Road Camb Surrey GU15 3HL Date". Zf/t/¥ Page 5
THE YIAX CHANDLERS. CHARrrABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE AccouKr FOR THE YEAR ENDED 31 MARCH 2024 [able unrej£d Restrickny Erthmnenl Furnls FuTrJs 2024 7otl ey¥endae UNEBtrkted ResM¢t¢d Fund• Endo%Ynenl Fund 2023 2023 Tolal fuDd¥ 2023 2024 2024 2024 2023 INCOME AND ENOOTMIENTS FROM.. Donations and legacEs Legae4#5 Investments 82,237 5,935 88,172 20,387 173,801 10,000 1•4,168 10,0 20,137 29.550 25.137 Total Incom• and gndovM0b7ts 111.787 5,935 117.722 45,504 183.801 229,30B EXPENDrruRE ON: Inveskn)8nt managerfs fegs Grants Fund raisi OfficA nt aThJ rates Recharged &xp8nses Independènt Exarninefs fvo Bank fee8 Pollinatiro London Togather Exchangfr rate variance 4,119 1,883 27,258 2,177 39,463 38,574 2,172 61 6.002 27.268 2.177 39,463 36.514 2.172 61 52.180 162 4.058 1,855 17,852 820 6,913 17,862 820 10,978 2,010 72 10,978 2,010 72 147,930 181) S2.180 147,930 {811 T4)t•l eXndre 4,119 109.6•0 52.18D 165,989 4.068 31506 147,930 185,495 N•t g•Ino4•1 on I10 111,240 50.847 162.087 110,421) (4.7641 {10,1861 N•t mov•m•rt In lund$ 107,121 62,944 (46,2451 113.119 (14.4801 7,234 36.871 28.62S R•con¢Oll•llon of fund•: Totsi funds brought foNard 685,192 360,562 183,288 1,229,022 699,671 353,328 147,398 1.2110.397 Trarofer of Polllngting London Tcgether funds 126,9621 26,2 Tot1 fund• ¢•rrF•d forward 792.313 386.544 163,984 1,342.842 884192 380,562 1B3.268 1,229.022 Tht notss on pages &14 form part ofthèse account& Page 6
THE WAX CHANDLERS. CHARITABLE TRUST BALANCE SHEET AS AT 31 AIARCH 2024 2024 2023 FIXED ASss Investmer 12 1.276,956 1,084.393 1,276,956 1.084.393 CURRE1 ASSETS Other debtors and prepaym)ts Cash 81 bank and in haThJ 13 54,815 35.447 152,974 90,262 157,658 CREtXTORS: Amounts falling due withln one y•ar 14 124.376) (13,029) N•t tuvrent a88ets I Illablllfjesl 65.886 144,629 Total as195$ ¢Urt h111•S 1,342042 1.229.022 TOTAL NET ASSETS 1.342.842 1.229.022 FUND BALANCES Expendable Endowmentf(HvJs Restrictad lurKIs Unrestricted income funds 15 792.313 163,984 386.544 e95,192 183,268 1,342.842 1329.022 1311 Iw21r The financaal Statements were apFxoved by the Tntstaas on ....2024 and were sKJnwJ on their behair Dame Fi(M)a wlf Master Mrs ynda Mai$ton-Weston Upper Warden The notes on pages &14 form part of these accounts. Page 7
THE WAX CHANDLERS. CHARrrABLE TRUST NOTES TO THE Accoupirs FOR THE YEAR ENDED 31 MARCH 2024 1 Statutory Inft•m)atlon The Wax Chand18TS' Charitable Trust is a charity registered in England and Wales wth Cheritie8 CiJmmi$$ion. Details ol its wistered number aNJ address are $hcwn in the Tfuslees Report. page 2. 2 A¢countlng Pollcles The prlncipal accounting policies which are adopted nsiSten11Y in the preparation of tho financial stslemenls are set out below. a) B•sls of accountlng The financial 8talemenls have been prepared under the histortcal cost ¢onvention wth f(ems rI09n16¢d al Cost or transaclton walue unless otheThse stated in the relevant notes lo these financi stslwnents. The financial statements hav8 bagn propared in accordan with the Charities Statement of Recommended Practic8 (Charities SORP IFRS 1021 second published October 2019} and the Finanal Reporting standard 102 {FRS 102 published March 2018- effectivg 1 Jan 2019). The Wax Chandlers. Charitabie Trust meets the definithjn of a public benefft entity under FRS 102. b) Flnanclal reportlng Standard 102- reduGed dlsclo8ure exemptlons The ch8rty has takén advantsge of thè fdlowing discl¢)sure exempt in preparing these financial Stat8mants, as peed by FRS 102 The Financial Reporting Standard applicable in the UK a1 Republic of Ireland,: - the requirements of Section 7 Statement ol Ca$h Flows o) Income Donat income 1$ rewnised upon entitlement. ReGov8rable gift aid is recc*Jni8ed when tha related donation is received. Gift aid that has not been r0vered by the balanee sheet dale is included as a debtor. Investment incomo r¥lale8 to diendS on listed shares and is f&ogni$ed upon entillemenl. Incomo from legau8s is reeognised when a dislributK)n is received from the estate or, if eadier, when the charity has been notified that a distribution will be made and the amount receivable can be measur8d reliably. Other income is recognised upon entidement. d) Exp•nditu Expenditure is reeognised onc? there a legal OT constructive obligats'on lo meke a payment lo a third party. it is probablo that sattbement wll be required and amount of the obligth.on can be m8asurad reliabty. Allocation of •xpendlture Expenditure 18 xcounted for on an gccrual8 basi8 and althoted to the relevant aclwAy. Where an expense relates to more than one actimty rt is apportioned on an apprSte basig as detailed in the support cost note. Grants offered subject to cormlilrons which have not been met at the year end date aro noted as a commitment bul not accrued as expenditure. •) Invejtmonts Investment$ are included at far value at the balance sheet date. Page 8
THE WAX CHANDLERS. CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 fj Debtorn AN debtQTS are included al the 8etUement amount due. Prepayment$ are valued at the Jnount prepaid net any trade discounts du g) Cash and 9h equfvalents Cash arKI cash equivalents include ca$h in hand. deposits hgld at C811 with banks, other short-term IK4uid investments th orginal malurilies of three monlhs cx188$. and bank overdraft$. h) Crodltors and provlslon6 C110¢S and provisions are recognised whgre the ch?iity has a present obligalion ad8ing frrxn a past event that will probabty result in the transfer of funds to a Ihlrd paty and the amount due to settle the I)bIallOn ean be m&Asured or eslimaled relk?bly. crltOrS and provish?ns are wognlsed at their settlement amount after allowng fof any trade discount8 due. l) Flnanclal Instruments The charty onty has financial assets and liabilit$ of a kind that qualfy as b88ic financial instrumerts. The list investments which are shares held in an investment portfolio are recogniied al their fair value. All other basic financial instruments are Inty rOgnIsed at trans&tKn value and subsequently m&38ured at their setugment value. JI VAT The charty is not rogistered for VAT and accKJrdingty expenditure includes VAT where appropriate. kl Txatlon The charity 18 exempt from tsx on its charitsble llties. l) Going Concem The Trustees consider that there are no malerkil uncertainlies the charity's abibty to continuè as a going Concgrn. ml Fund accountlng - Expendable Endowment Funds are those fvnds which are retainth lor the future beneffl of the Charitls beneficiarie8 but may be converted into income at tha trustees, di$cretion. Income deTNing from these funds is unrestricted. - Restricted funds are donations which the donor ha$ are to bè so19 u8ed for partlar area8 of the Trust's wcrfk. - Unreslricled funds are expandable at the discretion of the Trustee8 in furtherance of the c4)jects of the charity. - Further expLgnation of the nature and purpose of eath fund is irduded in th8 notes lo the financial $tatements. n) Key estlmates and Judgemènts The Trustee8 feel there were no judgements made in the process of appn9 accounting pOIleS that had a signifKanl effect on the amounts re¢c#JnEed in the financial $talemenL Page 9
THE WAX CHANDLERS. CHARrrABLE TRUST NOTES TO THE ACCOVNrs FOR THE YEAR ENDED 31 MARCH 2924 3 Incom• from donatlons and l•gacl 2024 2023 Cash donalioro li[KI1n9 tax rtrovorable) Legacies 88.172 194,168 10,000 204,168 88.172 4 Investment In¢om• 2024 2023 Iorne from listed irwestments Interest re¢ewatle 29,316 234 29,550 24,398 739 25.137 Ra18ing funds 2024 2023 Investment management Costs Investment manag6rfee8 6,002 6,002 5,913 5,913 6 Grants payab 2024 2023 N*ional Honey Show Asian Homel Alert Ulster Bgekeepers A$S$Iation Bees Abroad Sl Marls Regents Park St. Paul's Cathedral FOundatn British Bèekeepers Association 5 Rrftes Chades Buller400 FouThJation st Vedasl We5tmin51er Abb8y Cty Special Events Dr Stephen Green M D McLoughlin LCSC Annual Subs Hayes & Fih William Kd311,$ Chwty- candles for Sl. Paul's A Briseombe WCC J RKller RAF Benevofenl Fund City of London FUF Conirosby SLIU Trustees of the UGS Clty Special Events St. Ma8 Secret Garden {Buzz in th8 Cty} 8.000 5,000 4,OC(J 3,150 2,000 1,186 1,210 7CN) 500 428 2.920 1,301 1.100 1,013 200 200 200 100 100 2,191 750 714 500 375 300 200 200 188 12,000) 17.852 27,258 Page 10
THE WAX CHANDLERS. CHARrrA8LE TRUST NOTES TO THE AccouKf8 FOR THe YEAR ENDED 31 MARCH 2024 7 Recharyed éwnsos 2024 2023 Stoff costs Offe costs 36,250 10,000 978 10.978 36,514 Staff Costs and office costs are administration costs recharged by The Worshipful Company ol Wax Chandler8. See note 17. 8 Govèrna9 costs 2024 2023 Independent Examinerfs fee 2.172 2.010 2.010 9 Other costs 2024 2023 Bank charges 61 61 72 10 Trustees remun•ratk4n and expenses There Yre no trustees, rernunerat or other benerrts for the year ended 31 Marth 2024 nor fortho year ended 31 March 2023. There were no ITuslees' expenses reimbursod for the yoar ended 31 March 2024 nor for the y8aT ended 31 March 2023. 11 Staff costs Staff costs c(>nprtse administration costs recharged by The W81pful C¢¥npany of Wax Chandlers. See note 17. Key management personnel eomprises onthe trustees, none ofwhom wore r¥mun8rated. ) empknyees rec8w8d emoluments in ex5$ of £60,000. 12 Flx•d Asset Investments 2024 2023 List Investments Fair value at 1 April 2023 Fees charged Irwme re-invested ovement in Unrealed g8insllk)ssas) Movem6nt in exchange rate Fair value at 31 March 2024 1,084,393 1.105.055 16,002} 15,913) 36,316 3SS 162.087 115,1851 162 81 1276 956 1084 393 The Fix&S Asset Investments include both tho Unra$trtt8d and ReStrted fund$. For further inform*ion, $ee rte 16 of the &counts. Page 11
THE WAX CHANDLERS. CHARrrABLE TRUST NOTES TO THE AGCOUIITS FOR THE YEAR ENDED 31 MARCH 2024 Th8 a88et allocatron wllhln investsnents wa$ as foltm: 2024 2023 UK Hddings Overseas Holdings 506,315 480.828 770,641 603,565 1276 956 1084 393 No hoklings comprrse more than 5% of the investment portfolto in 2023 or 2022. 13 DebtorJ 2024 2023 Trade debtors GfftAd Invesbnent In¢ome 39.343 4,681 7,926 54,815 4,684 14 Crodltor3: IlabililiK falllng du8 wlthln ono y•ar 2024 2023 Trade creditors Accruals 22.264 2,112 24,376 10.264 2,765 13.029 15 Funds Expendable Endowment Funds are thosg funds which are retained for the future benefrt of the chanlls benefiae3 but may be ccfivertod into income al the trustees, discretion. Income derpling from these funds 13 unrestricted. Unrestrided Incc4ne Funds are se funds that are available to tha trustees to apply to the general charilable purposes as laNJ out in the Trust Deed. R8strict&l funds must be used for the 5p8crf purpose laid down by tho donor. Expenditure which meets that purp059 is alkxaled to the relevant restrthd fund. Specfftalty. - The Hall Fabric Fund- a fund used for refvrbishing Wax Chandkrs. Hall - Pollinating London Tcgether- a fund that supports pollinators and related events Movement In funds Al 01.04.23 Net At 31.03.24 Movement in fvnd8 Expendabl• Endowment Fund Unrestiicl•d funds 685,192 360,562 107,121 25,981 792.313 386,544 R8stri¢led funds Hall Fabric Fund Pollinating London Together TOTAL FUNDS 158.054 25,213 1 229 022 5.930 125,213} 113 819 1.342.842 163,984 P898 12
THE WAX CHANDLERS. CHARrrABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 l)urln9 the yr the mov•monts in th• charity's funds wero as follows: Incoming Outgoing Gains and rKources resourGes Funds Movwnent transfer in funds Expgndable Endont Fund 14,1191 111.240 107,121 Unrgstrlctod fund# 111.787 1109,690) 50,847 {26,9621 25,981 Rgstrfcted funds Ham Fabric Fund Pollinating London Together TOTAL FUNI)S 5.930 5.930 125.2131 (52,180) 165,989 117,722 162.087 DuriThJ the year. Pollinallng London Together (which was a prq'ect part funded by The Wax Chandlers, Charitable Trust) eslablishgd itself as a separate charity no. 1201781. registered wth The Charity Commission. 11 11 be adminiqtered separately from The Wax Chandlers, Charitable Trust. The funds relating lo Pollinating Lon¢Jon Together were a combination of Unroslricled and Restrirtfyj Funds which were then combined into the Restricted Fund ptigr to liansferring to the new charrty. 26.962 113,819 Comparatlv•J for mov•ment In funds Al 01.04.22 Net At 31.03.23 m¢)vemenl in funds Expendable Endowm•nt Fund 699,671 {14,480) 685.192 Unrestrlctod funds 353,325 7.234 360,562 Restricted funds Hall FabrK Fund Poll*iating London Together TOTAL FUNDS 143.07S 4,323 14,980 20.891 158,054 25.213 1,200,394 28,625 1,229,022 Comparative not mov•ment In funds included In the above are as follows: Incomlng Outgoing Gain8 and Movement resources resour3 in funds Expondable Endo¥trnt Fund (4.058) (10.421) {14.4801 Unrgstrlcted funds 45,504 {33,5CEI (4,764) 7,234 Rgstrfjcted fund¥ Hall Fabric Fund Pollinating London Together 14,980 168,821 14,980 20,891 {147,9301 TOTAL FUNDS 229 305 185,495 15,185 28,625 Page13
THE WAX CHANDLERS. CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 16 Anjtysh of fundl Ftxed Assets Current Current Assets Liabilib8s Total At 31-03-24 Expendab Endowmonl Unrestrided RestrKted 792,313 320,659 183,984 1276 956 792.313 386,545 163,984 90 262 1 342.842 24.376 90.262 {24,3761 Al 314)>23 Expendable Endowmenl Unrestricled Re81riclwJ 685,192 241,147 158.054 1.084.393 685,192 360,563 183,268 1,229,022 132,445 25.213 157.658 113,029) 13.029 17 Rglated party dlsclosures The Worshipful Ccmp8ny of Wax Chandlers 18 the sole Tru3t88 of the Charity and appoints the person$ vtho act as the Trustees of the Chsrity. The Charity shares a¢comm&Jation and cgrtain costs Thg Worshipful Company of Wax Chandlers. During the year £36,51412023'. £10.9781 was recharged lo the Charty by The Worshipful Company of Wax Chandlers in this respect. At 31 March 2024 the Charity owed the Company £22,26412023'. £10,264). During the year, the Company donated £40,27312023.' nil) to the Charty. 18 Connected parti•x The Charity has a common Trustee and Shares accommodation with Willlam Kendall's Charty. Al 31 March 2024 the Charfy was owed £nil12023.' £nil} by Wllliam Kendall's Charty. 19 Flnanclal Instrumonts 2024 2023 Financial Instrument at Faw Value 1,276.956 1.084.393 Th8 Fair Valuo of the listed investments is derived from the market pr* of rdev8nl share8 a8 at th8 year end. For further infom)ation, see Note 12 of the account8. Page 14
THE WAX CHANDLERS, CHARifABLE TRUST DETAILED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 31.03.2024 31.03.2023 INCOME AND eNDOWMENTS Donats'(S and lews Legacies Other investrrtent income 88,172 194.168 10,000 25,137 29.550 Totsi Incomlng tesourc 117.722 229,305 EXPENDITURE Invostmont managemonl costs Porifolio management 6.002 5,913 Charltablo actlvltles Grar Fund raising costs 27,258 2.177 36,250 39,463 52,180 17,852 820 10.000 714 147.930 Office rent and rates Pollinating London Together Govemanco costs Accounl8n¢y fe Trustees insurane6 2,172 2,010 Other Bank charges Exchange rate varlar 61 162 72 {811 Totsl rosources expended 165.989 185.496 N•t incom•l(expondhurol before galns and losses 148267) 43.B10 Net in¢0mell•xpditUrnI (48,2671 43,810 This page d)es r*)t fomi part d the slatLrtory financial ststwnents. Page15