Charity Registratlon No. 278164 The Wax Chandlers, Charitable Trust Report and Accounts Year ended 31st March 2025
THE WAX CHANDLERS. CHARITA8LE TRUST FOR THE YEAR ENDED 31 MARCH 2025 Contents Page Trustees. Annual Report Independent Ex&niner's Report Sl*ement of Financial Activities Balance Sheet Notes lo the Accounts Detailgd Slatemenl of Finla1 Actimties with Comparatives 14 8-14 1S
THE WAX CHANDLERS. CHARITABLE TRUST FOR THE YEAR ENDED 31 MARCH 2025 TRUSTEES REPORT The Trustees present the annual report and financial statements of the charlty for the year ended 31 March 2025. The financial statements have be&n prepared in accordance with the accounting policies Set out in note 2 to the accounts and comply with the eharrtls trust deed. the Charities A¢t 2011 and Accounting and Reporting by Charitres-. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard appluble in tho UK and Republic of Ireland- SORP FRS 102 (effective 1 January 20191. objectiv and a¢tlvttie$ The objedive of the charity is to make grants for general charitable purposes. The Trus88s h agreed lo continue to honour earfier commitments made in perpetuty regarding the supply of candles at st. Paul's Cathedral (fomier Aldridg8 B8que$t) and Ighlham Church (former Todd Bequest). Priorty is given to the making of grants for the encouragement of beekeeping. for innovation and advances in the modem wax industry, and the disseminatK)n of knoedge rega¥ding bee kee.ng and the modem uses of wax. The Trustee pays due regard lo the Charity Commission's guidan¢& on public benefrt. The Trustees have paid due regard to guklanc8 issuèd by the Charity Commission in deciding which actMIS the charity should undertake. Achi&vam8nts and ptrfomiance During the year the charty awarded grants of £25,12012024." £27.258I as set txjt in note 6. These grants enabled the recipients to maintain and Search into beekeeping, and to continue The Wax Chandlers Charitable Trust's objectives of innovation and advances in the modern wax industry. ?nd the diss8min8tion of knDvAedge rggarding1gkeeping and the modem uses of wax. The grants also enabled the conlinLFal suppty of candles at St. Paul's Cathedral Ifonner Akjridge Bequesll and Ightham Church (former Todd Bequest). The grants given also raised the profile of The Worshipful Company of Wax Chandlers ITrustee of The Wax Chandlers Charitable Trust) and encouraged new members lo join the Company. Flnanclal revlew The charity derives its income from a portfolio of inv8Stments and personal donations from membws of The Worshipful Company of Wax Chandlers. There are no reslriclions in the Trust Scheme so the Trusl88s are bound by the provisions of the Trustee Act 2000 in respect of investments. The Trust¢os' awn is to baLgnce the need$ of present and future beneftciaries and as such aim lo achieve the best possible total rdurn aThJ follow a medium risk 8tralegy. The Trustees aim to maintsin the capilal of the investsnenl funds al least in line wlh inflation. The free serveS of the charty are ratsined lo ensure the charity has sUffiCnt reserves lo meet its fthure commthents which include staff costs, céher overhead commf(menls and potential investment oppOrtune3. The fr88 r&sorves at 31 qarch 2025 were £367,52612024.. £386,544). Investment funds are managed on behaw of the Trustees by Cazenove Capital wf(hin thg chartys investment polry. Invesbnent relums, both capital and income, are reviewed regularly and moni(ored against the general investment market The market value of all listed investrments including cash 8131 March 2025 was £1,290.599 {2024'. £1,276,956). There was a net gain on the inveslmenls of £11,113 {2024'. net gain of £162,087). Page 1
THE WAX CHANDLERS. CHARITABLE TRUST FOR THE YEAR ENDED 31 MARCH 2025 TRUSTEES REPORT During the year the charity received investment inc¢)me of £34,734 {2024'. £29,550) an incraase compared to 2024 of £5,18412024". an increasg of £4,413) and committed £25,120 to grants12024'. £27,258). At 31 March 2025 each fund had adequate resources to fulfil the Charity's planned grant prcgramme {see Trjte G}. Struclure. governance and managemont The governiry document of the charity is the Trust Deed of 29 March 1979 amended by resolutions dated 22 June 1998 and 28 March 2008. The corporate Tnjstee is The Worshipful Company of Wax Chandlers la Cty Livery Company), and ils Court of Assistants lequrvalenl of a Board of Directors) are tha charity Trnslees within the meaning of the Charities Act 2011. New charty trustees are elected by Ihg Court. The Court is vISed by the Chanty Committee on all aspects of poIY and administration. The day to day agminislr*M of the eharity 1$ undert8ken by th8 Clerk. The Trustee is noltfied of any vpdales to any Chanty Commission legislation relevant lo the charity and tho way il operate5. Referenco and administration detalls of tho charlty. its Trusleo and advlsèrs The Wax Chandlers, Chafitsble Trust is a 18gi81ered charty no. 278164. The principal address of the charity is Wax Chandlers, Hall, 6 Gresham Street, London EC2V 7AD. The Truslge is The Worshipful Cornpany of Wax Chandlers, operallng under a charter granl8d by KirvJ Charles11 on 23 November 1663. The members of the Court of th¢ Company serv8 as Ihg charity TrLvJlees wthin the meaning of the Charities Act 2011. The membership ol thè Court during the year and up to the date of the approval of the Trustee's Report is shown bolov. Master Mrs Lynda Marsl¢Jn-Weslon Daputy Master Dame Fiona WTrJM Upper Warden Mr lan AppIon Renter Warden Mrs Margaret Ginman Page 2
THE WAX CHANDLERS. CHARrrABLE TRUST FOR THE YEAR ENDED 31 MARCH 202S TRUSTEES REPORT Court Assistants Mr Anthony Ward Mr Jonathan Simpson Mr Haydn Ce Mr Robert McLean Mi Andrew Blaxland Dr Frank Cselik Mrs Constsnllna Firth Past Master Court Assistants Mr John Sleeman Mr Peter Tompkins Mr Arthur Davey Mrs Joan Beavingt( Mrn Susan Green Mr Tim Maile Mr Anthony Bickmore IwiprEd 01-(W41 Clerk Mr Richard B MDU The prfnclpal advlsers to the charlty are: Bankers Cafcash Limited Kings Hill Wesl Mallirvj Kent ME194TA Investment Managers Cazanova Capital 1 London Wall Place London EC2Y SAU Sollcltors Reedsmilh Richards Butler LLP Beaufort House 15 Sl Botr>lph Stroot London EC3A 7EE Indopondorrt Accountant Sarah Shearer FCA Emmaus Chartered Ac¢ounlants 377-399 London RL*d Camberley Surrey GU15 3HL Page 3
THE WAX CHANDLERS. CHARrrABLE TRUST FOR THE YEAR ENDED 31 MARCH 2025 TRUSTEES REPORT Statgmont of trustees. responsibilities Charity law requires the Trustees lo prepare financial statements for each finanrAal year, which give a Irve and fair view of th8 stsle ol affairs of the charity and of the nel incomingl loutgoingl resour¢es for th8 year. In preparing the financk91 statements the trustees are required to.. . Seiect sullable accounting policies and apply them consisténtly, Make judgements and estimates that ar& reasonable and prudent,. and Prepar• th8 financial Statements on a going wncern basis unless il is inappropriate to do so. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy al any lime the financial posf(k)n of the eharity and lo enable it lo ensure that the financial ststemenls compty wrth the Charities Act 2011. They are also responsible for safeguardir)g the assets of the charity and hence for tsking steps for thè prevenlton and detection of fraud and othor irregularities. This report and tha financial Statements have been pi$parod in accordance with.. • the provisions of the Charities Acts- and . Statement of Recommended Practice." A¢Unting and Rewrting by Charities Issued on 1 January 2019. Appioved by the Tru8tees on ........ ...... Mr5 ynda Marslon-weslon Master Mr lan Appleton Upper Warden Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE WAX CHANDLERS. CHARITABLE TRUST I'the Charity'l I report to tho charty trustees on my examination of the 0vnI$ of the Charty for the year en¢Jed 31 March 2025 which are sel out on pages on pages 6 10 7 following, vthiGh have been prepared on the basis of the accounting poli¢ies set out on pages 8 to 9. Responsibilitiès and basls of rnport As the ¢harty's trustees you are responsible for the preparation of the accounts in rdance with the Ioquirgmenls of the Charities Act 2011 {'Ihe Act'l. I report in resped of my examination of the eharrty's accounts carrled out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charrty Commission under Section 145{51{bl of the Act. Indopendgnl examlnerfs statement I have ts)mpleted my examination. I confirm that no male¥ial matters have come lo my attention in connecth)n with the examination giving me cause to believe that in any material respest.. 1. accounttng racords were not kapt In respect of the Chanty as required by section 130 of the Act., or 2. the accounts do not accord with those records,. or 3. Ihg a¢counls do not comply with the applicable requirements concerning the form and conlenl of accounts set OLtI in the Charities (Accounts and Report81 Regulations 2008 other than any rUIrement that the aecounls give o 'true and fair vie¥ which is not a matter ¢onsidered as part of an IndgpenJent Examination. I have no concerns and have coma across no oth&r matters in connection with the axamination lo which attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. Sarah Shearer FCA Member of the Institute of Chartered Accountants England & Wales Emmaus Chartered Acntants 377-399 London Road Cambedey Surrey GU15 3HL Date.. (g-JJg kl,- Page 5
THE WAX CHANDLERS. CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 erK1abJÈ Unrestricted Re$th¢ted Endonent F¥J$ F5 2025 Totsl Fund5 Expendal8 UnRstrf¢lgd Reslnc16d ErvJO%nenI FuThd6 Furnls 2024 2024 Fund6 2025 2¢Y25 2025 2024 2024 Not INCOME AND ENDOWMENTS FROM: Donations Legacies Inbrnts Other income 54.130 7,000 34.734 195 64.130 7,000 34,734 195 82.237 5,935 88.172 29,550 29,$60 Total Incomè and ondowm•nts 96,059 96.059 111,787 S.936 117,722 EXPENDrruRE ON: Investment managers fees Grants Fund raising costs l)ffleè rent and rates Recharged expenses IndeFendent Examinerf5 fee Bank fees Exchang8 rate varian Pollnats"ng London Together 4.490 2,052 25.120 6,442 16,480 27.389 2,248 60 179 358 899 26.120 6A42 16,480 2Y.389 2,248 4,119 1.883 27,258 2.177 39.463 36,514 2,172 61 162 6,002 27.268 2.1TI 39,463 36,514 2.172 61 162 02.180 179 52,180 Totsl expondlture 4.490 79,970 358 84117 4119 109,690 62.180 165.989 Nèt g#in$lllosses} on inve8trn•nts 6,099 1788 2,226 11.113 111.240 50.847 182.087 Net moY•m•nt in lunds 18,877 1.869 22.36$ 107,121 51944 146,245) 113,819 Ro¢onclliatlon of fund$: Total lunds brought foNard 792,313 386.544 163.984 1.342.842 685,192 360.562 183.268 1,229.022 137,8951 37.895 126.9821 26,962 Funds transfer Total fund8 carTl¢d fobward 793,922 367,526 203,74B 1.365.196 792.313 386.544 163,984 1,342,842 The notes on pag&g &14 f( part of IIEse axounts. Page 6
THE WAX CHANDLERS. CHARITABLE TRUST BALANCE SHEET AS AT 3114lARCH 2025 2025 2024 Note FIXED ASSETS Investments 12 1.290.599 1,276,956 1,278.956 1,290,599 CURRENT ASSETS Other debtors and prepaymgnts Cash at bank and in hand 13 15,527 66,143 54,815 35,447 81.670 90,262 CREDITORS.. Amounts falllng due within one year 14 17,072) (24,376> Net current assets I Iliabiliti•s} 74,597 65.886 Total assets lèss current Ilabllities 1.365.196 1.342.842 TOTAL NEf ASSETS 1,365,196 1.342.842 FUND BALANCES Expendable Endowment fund¥ Reslricled fund5 Unrestricted income fund$ 15 793,922 203.748 367,526 792,313 163,984 386,544 1.365.196 1,342,842 The financi81 slalements were approved by Ihg Trustees o&W25 8nd were signed on their behalf by.. Lynda Marslon-weston Master Mr18n Appleto Upper Warden The notes on pages &14 form part of these accounts. Pag8 7
THE WAX CHANDLERS. CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 Statutory Infomiatlon The Wax Chandlers, Charitable Tru51 is a charity registered in England and Wales Mlh The Charitie$ Commission. Details of ils registered number and address gre shcwn in the Trustees Report, page 2. 2 Accountlng Polkles The piincipal accounting policE$ which are adopted consistently in the praparation of thè financial statements are sel out below. a) Basis of accountlng The financial stalaments have been prepared under the historical cost convention with items rece•Jnised at cost or transaction value unless otherwise stsled in the relevant notes lo these financial statements. The financial statements have been prepared in accordance with the Charrt*s Statement of Recommended Practice (Charities SORP IFRS 1021 second edition published October 2019) and the Financial Reporting standard 102 IFRS 102 publi8hed March 2018- effective 1 Jan 2019}. The Wax Chandlers. Charitable Trust meets the definition of a public b8n8fil antity under FRS 102. bl Financial raporting standard 102- reduced dlsclosurg gxemptlons The charity has ta(on advantage of the folknwing disclosure exemption in preparing these financial statements, as pemrtted by FRS 102 'The Financiaf Reporting Stsndard aPpIable in the UK and Republic of Ireland,: - th8 réquirements of SeclK)n 7 Slalement of Cash Flows c) Incomè Dc)nation inc¢)rne is recognised upon 8ntrtlemenl. Recoverable gift ard is recognised when the related donation is received. Gift aid that has not been recovered by the balance sheet date is included as a debtOT. Investrnent income rglates lo dimdends C listed shares and is wognised upon enlillemenl. Income from legacies rec¢)Jnised when a distribution is received from the estate or, rf 8arfier, when the ¢harty has been nolifEd that a distributi wll be made and the amount receivable can be measured reliably. Other income is recognised upon entitlement. dl Expenditure EXpeIllure 18 reccxJni8ed once there 1$ a legal or constrliVe obligation lo make a payment lo a third party, it 18 probable that settkment will be required and the amount of the obligation can be measured reliably. Allocatlon of expenditur• Expenditure is accounted for on an accruals basis and allocated lo thè relevant activty. Where an exwnse relates to more than one activity it is apportioned on an appropriate basis as detailed in the support cost note. Granls offered subject to conditions which have not been met at the year end dale are noted 88 a commitment bul not accrued as eXFenditure. el Investments Investments are included at fair v81ue 81 the Balance She8t date. Page 8
THE WAX CHANDLERS. CHARrrABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2026 fj Debtors AJI debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid net of any trade discounts due. gl Ca8h and cash equlvalents Cash and cash equivalents Include eash in hand, deposts held at call with banks, other short-term Iiquk nvestments with original maturities of three months or less, and bank overdrafts. hl Gredllors and provlslons CrjitOrS and provisk)ns are recc4nised where the charrty has a p¥esent oblwJalion arising from a past event that will probab resutt in the transfer of funds lo a third party and the amount due lo settle the obligation can be measured or eslimaled reliably. Cre(Jitors and provisions are recognised at their sèttlemant amount after allowing for any trade discounts due. l) Flnan¢itil instruments The charity only has financial assets and liabilities of a kind that qualrfy as basic financial instruments. Th8 listed investments which are shares held in an investsnent portfolio are recogniz8d at their fair value. All other basic financial instruments are Initial re¢(vJnised al Iransactp)n value and subsequendy measured at their settlement value. 1> VAT Th8 charity is not regislered for VAT and 40[dingty expenditure includes VAT where appropriate. kl Taxation Tha charity 1$ exempl from tax on its charrtable activities. 11 Going Concern The Trustees consrdar that there are no material uncertainties about the chaiity's abilrty to continue as a going ¢oncern. ml Fund accounting Expendable Endowment Funds are those funds which are retained for the future benefrt of the charitys beneficiaries but may be converted into income al the trustees, discretion. Incomo der*ving from these funds is unleslricted. - Restricted funds ere donations which the donoi has spectfied are lo be solety used for Partlar areas of the Trust's work. - Unreslricled funds are expendable at the discretion of the Trustees in lurtherance of the ¢Jbjects of the harity. - Further explanatrjn of the nature and purp¢)se of each fund is included in the note8 to the financlal statements. n) Koy ostlmatss and Judgomènts The Trustees feel there were no judgements made in the process of applying the accountiro policies that had a siqntficanl effect on th8 amounts recoqnised in the financial statement. Page 9
THE WAX CHANDLERS. CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 3 Income from donations and18gacies 2025 2024 Cash donations lin¢luding tsx recoverable) Logacies 54.130 7.000 61130 88,172 88172 4 Inv88tm8nt Income 2025 2024 Income from listed investments Interest receivable 34,613 121 29,316 234 29 550 S Ra181ng fund8 2025 2024 Investment management eosts Investment manager fees 6899 6.899 6002 6002 6 Grants payabla 2¢)25 2024 National Honey Show Bee Farmers ASS(th1on Bees Abroad PHIRA Science British Beekeepers Associalion Sl. Paul's Cathedr81 Foundation RAF Coningsby Sl Vedast City Special Events Elaine Robinson Trustee5 of the UGS Vvelsh Beekeepers Association Hayes & Finch Asian Hornet Alert Ulster Beekeepers Asssock*ion St Mary's Regents Pa 5 Rifles Chades Butler 400 Foundation Westrninster Abbey Dr Stephen Green M D McLoughlin LCSC Annual Subs 8,000 S.333 5.100 3,000 1.230 720 500 391 200 200 2CIJ 150 8,000 3.150 1,210 1,166 428 200 5,000 4,OC 2,0(Kl 700 500 308 200 200 100 27.258 25 120 7 Rocharyed exp8n8eS 2025 2024 Staff costs Trustees insurance 27,110 279 27.389 36,250 36.514 Stsff costs and Trustees insurance are MinistratiOn costs recharged by The Worshipful Company of Wax Chandkrs. See note 17. Page 10
THE WAX CHANDLERS. CHARITA8LE TRLIST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 8 Govemance costs 2025 2024 Independent Examinerfs fee 2.248 2.248 2,172 9 Other costs 2025 2024 Bank charges 80 60 61 10 Trusttts remunerntlon and expenses There were no trustses. remuneration or other benefts for the year endeil 31 March 2025 nor for the year endèd 31 March 2024. There were no trustees. expens8s reimbursed for the year ended 31 IAarch 2025 nor for Ihe year ended 31 March 2024. 11 Staff costs staff costs cc¢nprise administration costs recharged by The Worshipful Company of Wax Chandlers. See note 17_ Key managanenl personnel comprises only the Iruslees. none of whom were remur)erated. No employees received emoluments in excess of £60,OCID. 12 Fix•d Ass•t Inve$tm¢nt$ 2025 2024 Listed investments Fair value at 1 April 2024 Fges charged Income re-invested Movement in unrealised gainsllk)sses} Movement in exehange rate Fair value at 31 March 2025 1,276,956 1,084,393 16,899} {6,002} 11,477 36,316 8,887 162,087 179 162 90 599 1 276 956 The Fixed Asset Investments include both the Unraslricled and Restricted funds. For further information, See note 16 of the accounts. The asset allccalithi within invostm8nts was as follows.. 2025 2024 UK Hddings Overseas Holdings 577,378 713221 5C6,315 No )ldingS comprise more than S'/fy of the investment portfolio in 2025 or 2024. 13 Debtors 2025 2024 Trade debtors Grft Aid Investment income Accrued income 70 8.187 2,990 4,280 39.343 7.546 7,926 SS.815 Page11
THE WAX CHANDLERS. CHARITABLE TRLIST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 14 Creditors: liabllitios falllng duè wlthln one year 2025 2024 Trade creditors Accruals 4,872 22,264 2.112 24.376 7.072 15 Funds Expendable EndOTran1 Funds are those fund8 which are retsined for the futu benefit of the chartys beneficiaries bul may be convertèj into income at the trustees, discretion. Income d8riving from these funds is unrestricted. Unrestricted Inc¢)me Funds are those funds that ¥9 avalable to the Iru81ees to appty to the general charitabl8 purposes as laid out in the Trust Deed. Reslrictsd fvnds must be used for the SFrfrfi¢ purpose laid dtmn by the donor. Expenditure which meets that purpose is allDcaled to the relovant reslricled fund. Specificalty.. - The Hall Capital Fund - a fund used for refurbishing Wax Chandlers. Hall Movèment In funds At 01.04.24 Nel Al 31.03.25 Movement in funds Expgndablo endowment Fund Unrestri¢led funds 792,313 386,544 1.609 (19,0181 793,922 367,526 Rostri¢tsd funds Hall caltal Fund TOTAL FUNDS 163,984 39.764 203,748 22,355 1.365 196 Durfng the year the movements In tho charws fundB were as follows: Incoming Outgoing Gains and resource5 rosources losses Funds transfer M(wemenl in fund8 Expendable Endowment Fund (4,4901 6.099 1.609 UnrestriGled funds 96,059 179.970) 2.788 {37,8951 {19,018) Re8trfct8d funds Hall Captial Fund TOTAL FUNDS 13581 84.818 2,226 37,895 39,764 Page 12
THE WAX CHANDLERS. CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2026 16 cont. CoMparatiV8s for movement in funds Al 01.04.23 Net At 31.03.24 movement in funds Expendable Endowrnent Fund 685,192 107.121 792,313 Unre5trlcted funds 360,562 25,981 386,544 Restricted funds Hall Capital Fund Pollinaling London Together TOTAL FUNDS 158,054 25,213 5,930 (25,2131 163,984 1,229 021 113 819 1 342 842 Comparativ8 net movement In funds, Included In the above are as follows: Incoming Outgoing resources resources Gains and losses Funds transfer Movement in funds Expendabla Endowment Fund {4,1191 111,240 107,121 Unrnstrlcted funds 111,787 1109,690) $0.847 126,9621 25.982 Restrlctèd fund$ Hall Capital Fund Pollinating London Together 5,930 5.930 125.2131 152.1801 26,962 TOTAL FUNDS 117,722 165 989 162.087 113.819 DurirKJ th8 year to 31 March 2024, Pollinating Londen Togeth8r Iwhich was a pro11 part funded by The Wax Chandlers, Charitable Trust) established rtself as a separate charity no. 12Q1781, registered wfth The Charity Commission. It IS 8dminisl8rad Separately from The Wax Chandlers. Charitsble Trust. The funds relating to Pollinating London Together wore a cornbinakn'on of Unrestricted and Restricted Funds which were then combinod into the RgstrKlgd Fund Pfior to transferring to the new charty. 16 Analysis of funds Fixed Assets Current Asse13 Cuffent Liabiliknes Total Al 31-03-25 Expendable Endowment Unreslricled Reslricled 793.922 292,929 203,748 1,290 599 793,922 367,526 203,748 1 365.196 81,670 {7,0721 At 314)3-24 Expendable Endowment Unrestricted Restricted 792,313 320.659 163.984 1.276 956 792,313 386,545 163,984 90 262 1342 842 90.262 124,376) Page13
THE WAX CHANDLERS. CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 17 Related party disclosurns Th8 Worshipful Cfflipany of Wax Chandlers is the sole Trustee of the Charity and appoints the persons N¥ho act as Ihg Trustees of the Charity. The Charity shares accommodation and certain costs with The Worshipful Company of Wax Chandlers. Duriw the year £27,48412024: £36,514} was rachargad to th& Charty by Thg Worshipful Ccxmpany of Wax Chandlers in this respect. Al 31 Mareh 2025 the Charity owed the Company £4,872 {2024.. £22,264). During the year, the Company donated £7.407 {2024-. £40.2731 to the Charty lo support the Charity with 11$ business rates obligation. 18 Grant Commltments The Charty ccmittee made 8 grant commitment of £5.133 per year to The Bee Famiers Associal*)n until March 2027. 19 Financial Instruments 2025 2024 Financial Instrumant at Falr Value 1.290.599 1.276.956 The Fair Value of the listed investments is d8riV8d from tho market price of the ralevant sharas as at thg year end. For further infomation. seè Note 12 of the accounts. Page 14
THE WAX CHANDLERS. cHAlTABLE TRUST DETAILED PROFIT ANO LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 31.03.2025 31.03.2024 INCOME AND ENDOWMENTS Donations Donatn8 frorn The Worshipful Cc¥npany ofwax Chandlers Legacies Other investment in¢ome Other income 46,724 7,407 7,000 34,734 195 47.899 40,273 29,550 Total Incomlng resources 96.059 117,722 EXPENDrruRE Investment management costs Portfolio management 6,899 6,002 Chaiitable activities Grants Fund raising costs Staff costs Office rent and rates Pollinating London TtyJether 25,120 6,442 27,110 16.480 27,258 2.177 36,250 39,463 52,180 Gov9rnan¢o Costs Accountsncy fees Trustees IrtsUrCe 2,248 279 2.172 other Bank charges Exchange te varian 60 179 61 162 Total resource5 expendod 84,817 165.989 Net incomel{expendlthre} belor8 gains and losses 11,242 148,2871 N•t in¢omo1(expenditure) 11.242 48.2671 This page does not fom part of the statutory financi818tstemenl$. Page 15