2021-03-31-accounts - The Armourers And Brasiers Gauntlet Trust

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

			Pages
Reference and administration		information
Trustees' report			2-6
Independent auditor's	report		7-9
Statement offinancial	activities		10
Balance sheet
Statement ofcash flows			12
Principal accounting	policies		13-15
Notes to the accounts			16-21

ts
	Charitable Grants
	Material Science-
A	Armourers &Brasiers'	Rolls-Royce Scheme	22
B	Armourers &Brasiers'	AWE Scheme	23
C	Armourers &Brasiers'	MPI Scheme	24
D	Grants Towards Materials Science		25
E	Other Charitable Grants		26

Charity	Registration	279204
Founder		The Worshipful Company		ofArmourers			& Brasiers
Trustees		E B Pitt (Chairman)
		Colonel David Wynne	Davies		(Resigned		25June 2020)
		MJ Goulette
		NJ Davies
		Prof. W Bonfield
		Mr JRH Hale
		Prof Emma Ream (Appointed			25 June 2020)
Secretary		P Bateman
Chief Executive		A M Clift
Nature of	Governing
Instrument		Declaration ofTrust dated		21	November		1979
Registered	Office	Armourers' Hall
		81 Coleman Street
		London EC2R 5BJ
Auditor		Haysmacintyre LLP
		10Queen Street Place
		London
		EC4R 1AG
Bankers		National Westminster	Bank pic
		94 Moorgate
		London EC2M 6XT
		C Hoare 8 Co
		37Fleet Street
		London
Fund Managers		Rathbone Investment	Management			Limited
		8 Finsbury Circus
		London EC2M 7AZ

Trustee

				Expendable		2021	202
			General	Endowment	Restricted	Total	TotI
			Fund	Fund	Funds	Funds	Func
		Notes
Income from:
Donations and
gifts			8,467	75,031	92,000	175,498	1,022,071
Investment
income Interest received			190,770 427			190,770 427	252,48( 2,47.'
Charitable
activities							8,00(
Total income			199,664	75,031	92,0QQ	366695	1 285 025
Expenditure on:
Raising funds:				29,746		29,746	26,024
Charitable
activities			329,943		928,900	1,258,843	374,087
Total Expenditure			329943	29746	928 90Q	1 288589	400,111
Net Income before	gains	on
investments			(130,279)	45,285	(836,900)	(921,894)	884,915
Net gains/(losses)	on
investments		10		1,881,964		1 881 964	(1 000 99c
NET MOVEMENT FUNDS	IN		«130279	I 927 249	~836900	9611070	~776,084
FUND BALANCES
BROUGHT FORWARD			297,907	7,296,513	857,000	8,451,420	8,567,504
FUND BALANCES	CARRIED
FORWARD			167628	9223 762	20 100	94114!IQ	8,451 4211

The Armourers &B	rasiers' Gauntlet Trust
BALANCE SHEET
Year to31March 2021
			2021	2020
		Notes
FIXEDASSETS
Fixed asset investments		10	9,275,776	7,922,576
CURRENTASSETS
Stock			8,243	9,603
Debtors			50,684	61,494
Cash at bank and in hand			1411,555	524 345
			205,437	695,442
CREDITORS
Amounts falling due within one year		12	(69,723)	(166,598)
NETCURRENTASSETS			135,714	528,844
TOTAL NETASSETS			9,411,490	8,451,420
FUNDS AND RESERVES
Expendable endowment	fund	13	9,223,762	7,296,513
Restricted funds			20,100	857,000
Unrestricted funds
Designated			19,331	150,000
fund
General	fund		148,297	147,907
			9,411,490	8,451,420

		2021	2020
		Total funds	Total funds
		F	E
Cash flows from operating activities (see note below)
Net cash used in operating activities		(1,197,796)	665,646
Cash flows from investing activities
Investment income received		191,197	285,870
Purchase of investments		(2,486,002)	(1,571,613)
Proceeds from sale ofinvestments (Increase)/decrease in investment cash		2,104,691 910075	1,682,340 ~935,803
Net cash provided by investing activities		719,961	(539,206)
Change in cash and cash equivalents in year		(477,835)	126,440
Cash and cash equivalents at the beginning	ofthe year	624 345	497905
Cash and cash equivalents at the end ofthe	year	146510	624 345
Note: reconciliation of net income to cash flows from operating		activities
		2021	2020
		Totalfunds	Total funds
Net income per the Statement of Financial Activities		960,070	(116,084)
Add: decrease in stock / deduct increase in stock		1,360	2,317
Add: investment losses / deduct: investment	gains	(1,881,964)	1,000,999
Deduct: investment income receivable		(191,197)	(254,955)
Deduct: increase in debtors/add: decrease in Add: increase in creditors/ deduct: decrease	debtors in creditors	10,810 ~96875	(39,988) 73,357
Cash flows from operating activities		~1,497,796	665646

1	DONATIONS AND	DONATIONS AND	DONATIONS AND	GIFTS	GIFTS		Expendable		2021
						General	Endowment	Restricted	Total
						Fund	Fund	Funds	Funds
	Tata Steel	pic						30,000	30,000
	Morgan Advanced			Materials				25,000	25,000
	The Materials Processing				Institute			25,000	25,000
	Donations	from	individuals			917	75,031	12,000	87,948
	Other donations					7,550			7,550
	2021 Total	funds				8,467	75,031	92,000	175,498
	PRIOR YEAR						Expendable		2020
						General	Endowment	Restricted	Total
						Fund	Fund	Funds	Funds
	Tata Steel	pic						1,000	1,000
	Morgan Advanced			Materials
	The Materials Processing				Institute			30,000	30,000
	Rolls-Royce pic							25,000	25,000
	AWE							25,000	25,000
	TWI							10,000	10,000
	Donations	from individuals					78,431		78,431
	Other donations					2,640		850,000	852,640
	2020 Total	funds				2,640	78,431	941,000	1,022,071
2	Income from Investments
								2021	2020
								Unrestricted	Unrestricted
								funds	funds
								E
	UK equities							190,770	222,241
	UK government		stock and
	fixed interest securities								30,239
	Interest on	Cash	Deposits
	and Other	Income						427	2 475
								191 197	254,955
3.	Income from Charitable				Activities
								2021	2020
								Unrestricted	Unrestricted
								funds	funds
									F
	Armourers	8 Brasiers'
	Cambridge	Forum							8 ODO

Armourers	8 Brasiers'
Cambridge	Forum

NOT	ES TO THE	ACCOUNTS
Year	to31March	2021
4.	Expenditure on raising funds
								2021	2020
								Expendable	Expendable
								endowment	endowment
								fund	fund
								E	E
	Investment	management		fees				29746	25024
5.	Expenditure on Charitable			Activities
									2021
							Unrestricted	Restricted	Total
							Funds	Funds	Funds
	Grants payable (note 6)						256,467	928,900	1,185,367
	Armourers	&Brasiers'
	Cambridge	Forum
	Support Costs (note 7)						73476		73476
	2021 Total	Funds					3211943	928900	1 258 843
	PRIOR YEAR 2020
							Unrestricted	Restricted	2020
							Funds	Funds	Total
									Funds
	Grants payable (note 6)						195,477	91,000	286,477
	Arrnourers	& Brasiers'
	Cambridge	Forum					8,000		8,000
	Support Costs (note 7)						79,610		79,610
	2020 Total	Funds					283,087	91,000	374,087
6	Grants Payable
								2021	2020
								Total	Total
								Funds	Funds
									E
	Armourers	8 Brasiers' Tata		Steel	Scheme				15,073
	Armourers	&Brasiers' Rolls-Royce Scheme						15,750	36,000
	Armourers	&Brasiers' Materials			Processing		Institute Scheme	33,000	34,320
	Armourers	& Brasiers' AWE Scheme						21,150	30,000
	Armourers	&Brasiers' TWI		Scheme					12,000
	Charitable	grants towards	materials			science		47,686	101,159
	Other charitable grants							67,781	57,925
	Imperial College London —Armourers					and	Brasiers Chair in Materials
	Science							1 000 QQ0
	Further details are provided			in appendices			A-G	1 185367	286,477

Fixed	asset investme	nts held at 31 March comprised th	e following:
			2021	2020
Listed	investments
	Fixed Interest Securities		451,433	507,994
	Investment	Companies	788,667	960,936
	UK Equities		4,168,128	2,881,897
	Overseas	Equities	3 726 55D	2 52D 127
			9 134226	6 87D 954

11	DEBTORS
					2021	2020
	Tax recoverable	on investment	income		594	1,920
	Investment income receivable				33,659	19,276
	Other debtors and prepayments				16431 5D684	46 298 61494
12	CREDITORS
					2021	2020
						E
	Worshipful Company ofArmourers			&Brasiers		84,569
	Accruals and Deferred income				24,350	48,175
	Grant Creditors				44,250	24,000
	Other Creditors				1 123	9854
					69723	166598

								As At
					At 1 April			31 March
					2020	Income	Expendituref	2021f
Materials Processing		Institute		Scheme		30,000	(30,000)
Rolls-Royce Scheme					7,000	25,000	(15,750)	16,250
AWE Scheme						25,000	(21,150)	3,850
TWI Scheme
The Peter 8 Nicki Mason			Fund			12,000	(12,000)
The Worshipful and Brasiers	Company		ofArmourer		850,000		~850,000
					857 0110	92 IIDD	~928 900	20 100
Prior year 2020
								As At
					At 1 April			31 March
					2019	Income	Expendituref	2020
Tata Steel Scheme						1,000	(1,000)
Materials Processing		Institute		Scheme		30,000	(30,000)
Rolls-Royce Scheme					7,000	25,000	(25,000)	7,000
AWE Scheme						25,000	(25,000)
TWI Scheme						10,000	(10,000)
The Worshipful	Company		ofArmourer
and Brasiers						850000		850,000
					7000	941 000	~91000	857 DDII

ANALYSIS OF NET	ASSETS BETWEE	N FUNDS
		Unrestricted	Restricted	Expendable	Total
		Fundsf	Funds	Endowment	2021
Fund balances at 31	March 2021 are
represented by:
Fixed asset investments		31,914	20,100	9,223,762	9,275,776
Current assets		205,437			205,437
Creditors: amounts	falling due
within one year		(69,723)			(69,723)
Total net assets		167,628	20,100	9,223,762	9,411,490

ANALYSIS OF NET PRIOR YEAR 2020	ASSETS BETWEE	N FUNDS (Continue	d)
		Unrestricted	Restricted	Expendable	Total
		Funds	Funds	Endowment	2020
			Z
Fund balances at 31	March 2020 are
represented by:
Fixed asset investments		457,505	857,000	6,608,071	7,922,576
Current assets		7,000		688,442	695,442
Creditors: amounts	falling due
within one year		(166,598)			(166,598)
Total net assets		297 9117	857 QQQ	7298513	8451 425

EDUCATION						2021f	2021f
School Level:
Royal Armouries	schools'	project				1 000	1,000
Undergraduate Level:
First year university prizes		(2 at f250)
Birmingham						750
Cambridge (Not	awarded	2020/21)
Imperial College,	London					500
Manchester						500
Oxford (Not awarded 2020/21)
Swansea						500
							2,250
University of Sheffield	Industrial	Training		Project
						7 000	7,500
Research Student Level;
Conference and	placement	travel	grants
Armourers & Brasiers' Cambridge				Forum		1 000
							1,000
Post-Doctoral Level:
Armourers' Rolls-Royce Fellowship						4,000	4,000
Sub-totai: amount charge to restricted			fund in 2021				15,750
Transferred to Covid Recovery		Fund to		be spent	in 2021/22
Rolls-Royce Funds						9,250
A&B Funds						11,000
							20,250
							36,000

EDUCATION						2021f	2021f
School Level:
Schools Outreach						3,000
Teacher's CPD						2,000
							5,000
Undergraduate Level:
Cambridge 1"Class Degrees						500
On site Summer Placements &Summer Placement					Support	4,000
Metallurgy awards/bursaries						400
Undergraduate Bursaries		(3xE1,000)				3,000
Oxford Summer Metallurgy		Tour				2,000
							9,900
Research Student Level:
Conference travel grants
Armourers & Brasiers' Cambridge			Forum			1,000
Recognising excellence	awards					250
University of Cambridge	Student		Opportunity	Fund	(DMSM)	5,000
							6,250
Sub-total: amount charge to restricted			fund in 2021				21,150
Transferred to Covid Recovery		Fund to be spent		in 2021/22
Conference travel grants						8,850
AWE Contribution		3,850					8,850
ABBContribution		5000
		8,850
							30 000

EDUCATION				2021	2021
Research Student	Level:
Millman Scholarship				16,000
Post graduate	research	symposium		15,400
Symposium Prizes				600
					32,000
Research Community
Armourers &	Brasiers'	Cambridge	Forum 2022		1,000
					33,000

EDUCATION								2021	2021
								E
School Level:
6th Form Materials Prizes								1,450
SATRO - the problem		solving challenge						1,000
IOM3 Magic of Materials				Summer School
Royal Armouries	materials				project			1,000
University school	links							3000	6,450
Undergraduate Level:
Industrial experience		awards and travel						9,000
Sheffield Hallam 4x 600	University				forensic engineerin		g scholarships	2,400
Swansea University entry				sponsorship		2 x500		1,000
Summer Placement		Support						1,925
University Medals 8,Awards		For	Excellence:
Aston								250
Bath								250
Birmingham								250
Cambridge x2								500
Cranfield x 2								300
Imperial College	London			x	3			375
Lancaster								250
Loughborough x	2							500
Manchester Materials		Science Centre						250
Nottingham								250
Oxford								250
Queen Mary University			London					250
Royal College of	Art							500
Sheffield								250
Sheffield Hallam								250
Southampton								250
Swansea								250
University College London								250
Alumni Evening Prize								34
Medals (23@F25each)								575	20,359
Research Student Level:
Oxford bursary								2 QQ0	2,000
Post Doctoral Level:
Cambridge post-doctoral		awards
Distinguished visiting	Fellow			Scheme				2 000	2,500

Professional Institutions:
Institute of Materials	-Young persons'			lecture competition	900
Livery schools link					125
Royal Society Medal	&	Award			2,505
Robert Perrin Medal					847	4,377
Cutlers' Company, Hallamshire:
Sheffield scheme	awards
Thr Peter & Nicki Mason Fund lrestricted)
Summer placements					10,000
Other activities					2,000	12,000
Sub-total: amount charge	to	expenditure	in	2020-21		47,686
Transfer to Covid Recovery		Fund				10,331
						58,017

AWARDS &GRANTS				2021	2021
COMMUNITY &ARMED FORCES
Prizes
Medals
Royal Navy
- Britannia Royal Naval		College
- Faslane Flotilla
-Armourers				250
-Armoury				250
-Junior Weapon Engineering			Officer	250
Royal Air Force - RAF Cosford Engineer Officer
-6Squadron				250
REME - Artificer Weapons Course
Royal Army Chaplains		Department		250
Royal Armourerd Corps (Binoculars 2019&2020)				1 814
					3,064
Cost of medals
Grants
First Aid Nursing Yeomanry				500
VC &GC Association				500
Alexander Forsyth award & medal				550
Royal British Legion				500
Sheriffs' &Recorder's		Fund		500	2,550
CHILDREN, YOUTH & EDUCATION
Cadet units				2,000
The Ulysses Trust				2 000	4,000
MEDICAL & HEALTH
The Richard House Hospice				2,000	2,000
THE ARTS
Guildhall School ofMusic & Drama - Brass Prize				1,000
West Dean College -	Armour		Studentship	1 000	2,000
CHRISTIAN MISSION
StMargaret Lothbury				1,000
St Paul's Cathedral				500
United Guilds service					1,500
GAUNTLET TRUST SUPPER				4,250
LORD MAYOR'S APPEAL				2 000
					6280
OCCASIONAL GRANTS					21,364
St Cuthbert's Centre				12,500
City Bridge Trust				30,000
Livery Kitchens Initiative				3,000
St Margaret Lothbury retiring	collection			917	46,417
TOTAL OTHER CHARITABLE		GRANTS			67781