THE ARMOURERS & BRASIERS GAUNTLEf TRUST Charity Registration Number: 279204 REPORT AND AccouNrs 31 March 2024 Page 1
The Armourers & Bra5iers' Gauntlet Trust IND TO REPORT ANDACCOUPtFS 31 March 2024 Pages Reference and administration information Trustee5' report Independent auditor'5 report Statement of financial activitiés io Balance sheet li Prlnclpzl accountin8 policies 12-14 Note5 to the a¢¢ounts 15.17 Appendices to the accounts Charitable Grants Materla15 Sclence- A Am)ourers & Braslers, Aolls-Royce Scheme B Amourers & Braslers. AWE Scherne C Amourers & Brasiers, MPI Scherne D Towards Materials Stien E Other Charitable Grants 18 19 20 21-22 23-24 Index Page 2
The Armourers & Brasiers' Gauntlet Trust
DETAILS
31 March 2024
| Charity Registration Number | 279204 |
|---|---|
| Founder | The Worshipful Company of Armourers & Brasiers |
| Trustees | Mrs N Davies (Chairman, Appointed 2024) |
| Prof E Ream | |
| Dr G Andrews | |
| Mr C Honnywill (Appointed 2024) | |
| Prof W Bonfield | |
| Mr M Goulette | |
| Resigned Trustees | Mr E Pitt (Resigned Chairman 2024) |
| Dr R Bowdler (Resigned 2024) | |
| Mr J Hale (Resigned 2023) | |
| Secretary | Mr J Pughe-Morgan |
| Chief Executive | Ms AM Clift |
| Nature of Governing Instrument | Declaration of Trust dated 21 November 1979 |
| Registered Office | Armourers' Hall |
| 81 Coleman Street | |
| London | |
| EC2R 5BJ | |
| Auditor | HaysMac LLP |
| 10 Queen Street Place | |
| London | |
| EC4R 1AG | |
| Bankers | C.Hoare & Co. |
| 37 Fleet Street | |
| London | |
| EC4P 4DQ | |
| Fund Managers | Rathbone Investment Management Limited |
| 8 Finsbury Circus | |
| London | |
| EC2M 7AZ |
Page 1
Detail
The Armourer5 & 8ra51ers' Gauntlet Trust TRUSTEES. REPORT Y•artv 31 Marth 2024 The trustees present thelr ststutory r@port tO8ether whh the xcounts of The Armourers and Brasi2rs' Gauntlet Trust Ilhe Trusv or he charity) for the yeaT endpd 31 March 202 The accounts have been prepared accordan with the accountin8 polides set out on page5 12 to 14 of the attKhed accounts and coThply wlth the chartys trust deed, applicable laws and Accountin8 ard Reporting by CTharitie5.' Ststernerf of RÈtommended Practice appllcable to Charitles preparlng thelr ac£ounts in acttjrdance th the FinarKial Reportin8 Standard applicable in the UK aNI RepuL4Ic of Ireland IFRS 1021. GOVERNANt¢ SThUCTURE ANO MANAGEMENT Go¥erh•n¢e The Armourws and 8raFAer< Gauntlet Trust 15 Bovernèd by 8 Dedaration of Trust dated 21 No¥mber 1979. The Trust Is re8lstered under the CharibesAtt 2011 with Charity Registrallon Number 279204. The power to appoint trustees Is vested In the Worshipful Company of Armourer5 & Brasltrs and Is extrtised by resolutlon of the Court of Ass15tants of the Worshipful Coftwany. When new lJustees 8re appolnted. they are 8lven an Intreductlon to woth of the Trust and provided wlth the inlormation they need to fulfil their role. Thetrusteeswho Se¢ iJurln8the year are li$teil on page 3. The trustees meet three times annual to rthiew the Tru5t'5 flnances. to censlder appllcaiions and io appro¥e Erants. AppllG4tion5 lor grants should be made via the website Iwww.am)ourershall.co.uVfundiw-8rantsl, The (hief ExecutNP 15 responslble for the day to day admini5tratioTh olthe Trust. Trustet< resp0ns1biii¢S5¢•te¢tt1 The truttees are re5ponlblE for preparin8 the trustees, report and attounts In accordance with applitable I and United AccountlnE Standards Iunhed Klngdom GeneralAttepted Accounting Practice) The law appllcable to chartyes in England and Was r4uires the trustees to prepar@ aca)unts for eath 1claI year which gove true and falr view of the stste of affair5 of the Charity and of the Income arKI expendlture of the charityfor that period. In preparlng these accounts, thetru5tees are requSred to.. sÈlett sultable accountin8 pollcle5 and then apvthern ¢onslstentlv* observe the methods and prlnciples in ACCOUnn8 and Reporting by tharitiÈs'. Ststement ol Retommended Prattice app51cable to tharltles preparln8 their accounts in aOrdtt wrih Flnancial Rèporting Standaid appIlob In the UK and Republic of Ireland (FPS 1021: makelutJ8ements and e5timate5 that are reasonable and prudent,. state whether applicable Unrted Kingdom Accounting Stsndar(ts have been followed, 5ublett to any materlal depare$ dlscb5ed and exploinEd inthe actounts. and prepare the accounts on thE 8oin8concern basis unless it Is ipproprIate to presume that the tharftyvAII ccffjtinue In opefdtion. ThE trustees arE respon51bk for keeplng adE4uate acc¢untln8 records that are suffidentto show and explèln the ¢harlVs transactljns and d15close wh rea50nabie accuracy. at ony time. the finanthal position ef the tharlty and enable them to ensure that the accounts CDrnply with the Charltles Act 2011. applit8blÈ Charty (Accnts and RepDrt51 Regulat10Tr5 and the Pro$10n$ of the charlty's trust deed. They are a150 responble for 53ftguardlng the assets of the charlty and ben for takln8 reasonable step5 lor the prevention and detectlon of fraud ènd other Irreoularities. K•y m•Ng¢Mert petspnnql The key monagemEnt persot)nel comprise the Trustees.Secretsry to the Trust and the lef Exeojtfjve. Otherthan the Chief Executlve the key management personnel recelyed reSmbursemeTrt of iravel expenses from the charity to the value ef £210.93. A charge 15 rnade ftom the Worshlpful Company of Armourers and Brasler5 to theTrusttor the management and admln15tratlon (rfthe thèrity. Tw8tees' Report Pag8 4
TRUEE5, REPoRT-clIfvue Yearto 31 Mah 2024 Rlsk m•n•tement The principal risks faced by the Trust Ile in the performantr of Investments,. the risk of 1neffÈrte 8r•nt makin& and the capacty ol Ihe Tru5tto malntsin the kvel of 8rant makin8 in conjunrtion with o)rporate partner5. The trustees conslder varfabllty of Investment retums on Invettments io Consbtute the chariV5 malor flnanclal r15k. This Is mttl8at by rEtalnln8 expErt Investment rnanager5 arKI havlng a der5med Investment wrtfollo. The Investment m3er report5 to the trustees In person ontr a year, Is available for consultatlon and supplies wtitten reports at thelr request. The operatlonal rfskfrom Ineffe¢twe 8rant makln8 15 rniti83ted bv.. confirmin8 the tharitaW2 5tatU5 and other eligllIty crlterfa agreed by the trustees fur the redplents of 8rants under the small charities pfoErarnme: Retsining trustees of 5ufflclent skfjll and expertlse te chalr our Materlals klence sub-¢otnmtttee ond ensurlng that the other membÈrs of the MatÈrials StlÉncÈ su&tDmmlttee together provide an approprlate range and depth of knowledge tsf the UK Materia15 Sclence sector,. and Malntalnln8 Ilns at swlor I1 wtth unlversltles, Institutions and milkary unftsthrou8h whith prlies and other Erants are awarded. The risk of a reduction in the level of Brt rnaklng Sn cenjunction with our torporatÈ partllef5 rnltiged by careful stewardship of those relètionships induding annual imp8tt reporting and consultation abo the joint proErammes at meetSn8s and through other reÈular contact The tru5tee5 seek opportunitle5 to extend their contacts through0 the UK Matèrialssuentt community. ACT1vm 5PEaFICOWECIIVES AND REievANT POUCIES Objettlves and attivttles The Declaration of Trust establishln8 the Trust directs ttst wrth the con5tnt of the Court of Assistants of the Worshlpfvl Company of Armourers and Brasiers. the Trust shall svpport all or any institutions or purptrses as the trustees shall from tirne to tlme thlnk fit. The charrty meets these owectlves by makinggrants in accordante wlth the yant making wlicy bEIow. GAmt mthktnu kY The trustees make a large number of Individual Small grznts In support of education. materièls sclente and Bweral chartta14e purwses. Addltk)naly, the Armourers & Brèsiers, Rolls-Royce, the Armourer5 & Brasiers, AWE and the Armourers & Brasiers. Materfals Pro¢essith8 Instltute schemes are run jtrinUy ith, Ro115-Royce plG AWE end the materIa Protessin8 Institute respecbvely to fund students of materials science. Fvll list5 of the grant5 rnade can befound in appendi5 A to E. In¥stmentpollcv The charity has a portfollo of InvestMents1h a marketvalue as at 31 March 2024 ¢f £9.642,16712023-£8,655,8391. In¥stment powers held by the trustees have been delegated to th¢ fund rnana8er. Rathbone Investment Management Llmlted. The trustees monitor the pÈrformancÈ of the fund manager against the obieclive of a balance of capftal growth arn1 Income wlth a medlum level of rt5 Tho Trustees have decidFd that for future year5 theTrust wlll draw down for expendf(ure each yeara #able am¢unL Ilkely to be atrJut 2.75% of the capltal value, frem time t¢ time. of the Investsd Funds. This will ènablÈ thè Trustge5 tr pl3n expendlture based on a Stsb income and will a150 allow the fund rnana8er5, Rathbones, greater flexlbllhy to Invest 50 a5 to 8enerate money for thp Trust to srend each year t)th from dividend income and caoital growth The tnJste85 are satlsfied that their Investment policy is bein8 pursued a5 a8reed. PulAlc benefit The truttÈes confim) that they have c¢)mpliÈd with their duty under Sertion 11 ot the Charrfiie5 Act Zoll. They have considered the public trenefft gui(tsnce published by the Charty Commission and believe that they have followed its Buidan in this area. The trustees, reportBlves a descrSpiion ol the actfvities undertaken by the charfty durlng th* yÈar in furtherance of its charitible purposes. and the trustees are 5at1511ed thatall Such acUvltle5 provlde o publlr benefit. Trustees, Report Page 5
TRUSTEtS' REPORT. Cononued Ye•rto 31 M•rth 2024 ACHIEVEMElIt5 AND PERFORMANCE Re¥tew otaasvhle5 The objectives, as set out almE. were 8thVed durSnE the current year. Grants of £277,710 IZOZ3 - £2369131 were to 172 12023- 1781 Indl¥Adua15. causes & instrtutlons. FINAN0 REWEW Results forthe year A summary of thE yearfs resultscan lound on pa8e 10 olthe TepDrt and accounts. Durfn8 the year the trustees Te1Ved £75,3L412023 - £99.7511 under Bift aid from indDiiduals. Investments prodUd income of £230,17112023- £251.0771 and Interest on rash dep05rts and other Income 01 £68012023-£1.8201 was retÈived. Durlng the year £25.WO12023- £25,LN)01 was reEeW from Rolls-Royce plc, £30,IXN)12023- £25,CKM)l from AWE and £30,LK)012023- £30,CI)Ollrom the Materials pressIng4n$t(tUte. ThEtotal income fortheyearwas £391,16512023- £432,648). Re$POlI The charKy is operated 45 a 8rant 8ivrn8charity and the tru5tees' PDlicy is to seekto dlstrlbutethe Income arising exh lin•tial yÈar. The tru5tee5 are ol the eplnlon that the currert 1 of uThrestricted re5er¥e5 provides suffident flexibility to cover tempornry shortfalls In Income duetotlrnln8differens in income flow Flnandal po4tlon The balance sheet show5 totsl funds of EJQ,CQ7A69 12023 - £9,213M31 cornprlsln8 ePPdable eowment fvnds of £9.675.171 12023 £8,911,105). restrfrted funds of £012023 - 12.8501 and unrestrlcted Bener31 fvnds (free reser¥esl of £332.298 12023 £289,4881- The tru5tee5 con51der that thls level of free reserves rnatches thÈ pafatntters set OLrt in the charivs reserves policy and they,therefore, con51derfree reserve5to adeque t not exce$5ive. FUTURE PLANS The trustees do not anticipate any signffl¢ant changes to the char¥ or its livities ¢)verthe nex¢ two to fve year& It Is thelr Intentl to et the follovAn8 oblectlves.. To monttor InStment performan so that rf at all p055ible. it 4thieves the crherla set by them so that there aye Suffitient fundso meettheir 8rant wing policie5. To continuelo make grants at a slmlhr lèvel. Approved bythe Trustee5 on Mrs Nltèla D8vies-a)alrman. - 2019 . Trustees, Report Pagè 6
The Armourers & 8raslers' Gauntlet Trust INDEPENDENT AUDrroRS REPORT 31 M•r¢h 2014 Qplmlon We have audlted the financial stateménts of The Armourers & Bra5iers' Gountlet Trust for the year ended 31 March 2024 whlch ccnprise the Ststement of Flnanclal Actfvities, the Balance Sheet, Cash Flow StatemenL and nDte5 to the finandal statÈmÈnts, IncIlIng 8 summary of slgniflcant èccountin8 politses. The flnandal reportlngframework that has been applkd Irb their prepar3tion 15 applicable law and Untted Kingdom Accourting Stsndards, IncludlnB Financial Reportlng Sta)dard 102 The Flnanclol Reportln9 Stthidord Jpplicoble in the UKondReDublic of Irelortd (United KinFdom. In our oplnlon.the ffinanual statements.. glve a true and fair Vlew of the State of the charrtable cornpany's afF3lrs as at 31 March 2024 and of thÈ tharitable companvs net rnovement In fund5, Indudln8the Income and expendlture. for the yearthen ended. have been properly prepared in 4ccordantr with Unlted ngdoM Generally Accepted AecDuntiTr8 Practice.. and have been prepared In accordance With the requlrÈmÈnts of the chare$A 2011. B•4$ for oplnlon WÈ have been plared as authtor under settion 144 of the Charltles A¢t 2011 and report Irb accordance th the t and relevant re8ulatlons made ef ha¥ln8 effert thereunder. We tondurtÈd our audlt in accordanre wlth Internatlonal Standards on Auditing IUKI {ISAs IUKII and applicable law. Our respon51bllltles under those standards are further descrlbed in thÈ Auditor'5 re5ponslbllhles forlhe uditof thefin3ncial statements sectlon of our report. We are independent of the charty in accordance the ethical iequirements that ère relevant to our audit of the financK4151atements in the UK, including the FRCS Ethlcal StandaTd. bnd we have hjlfilled our othor ethltal pOnsIbIlitieS in accordance with these requirements. WÈ bellevethat the auditevidence we have obtsined 15 suffiaent and aPprOprte to pro¥5de a basls for ouroplnlon. Contlusions relatithg togtqthg concern. In auditlng the fSnanclal statements, we have conduded that the Tf¥$tee5' Use of the going coThrn basb ol actounting in the preparètion of the finantial ststements Is approprfe. Based on the work we have performed, vie have not identlfied any materlal untsrtalntles retstinB to events or conditlon5 that, individualty or collectlvely, may cast slgnlficant doubt on the charity's ability to continue a5 3 gdng c0Thrn for a pe of it least twelve months from when thÈfinÈncial statement5 are avthorized for issue. Our reSponbilItieS and the re5pongbilitie5 of the Trustees wlth respect to gelng cMcern aredÈscrib2d in the rel@vènt sertlons of thls report. oiher Inlormaifjon The Trustees are responslble for the other InforrnaYon. The other informafjon cemprlses the Informion induded In the Trustees, Annval Report. Our oplnkn on the finandal statements does not cover the tsther infortnatlon and, except to tho eÈnI OtheSe explicitly stated in our report. we dD rKrt eMpre55 any fDrm of 05suran conclusion thereon. In connectlon wlth r audit of thÈ flnanrlal 5tstements. our re5pon51bllty 15 to read the othw InforMatn and, in doing so, wnsfjder whether the other Informatlon Is m3terfally Inconsistent wlth the financlal statements. or our knowledge obtalned In the audlt or otherwlse appears to be materially missted. If we Identlfy such materlal Inconslstencie5 or apparent material tni55tsternents, we are Tequired to determine whether there 15 a materlal misststement in the financial ststemens or i rnaterlal mI55tstement of the other information. If, based on the work we have performed. we conclude that there is Material mi5ststement of thi5 iTrfoimatlon, we are requlred to report thatlatt. We have ntsthingto report in this reEird. Matter5 onwhlthwo av¥ requlred to reporr by emceptlon. We have nothing to Teport in re5pett ol the lollowing matters in relation to whlch the Charltles IAccDunt5 and Report5) Re8ulafjons 2008 require us to report to you Sf, in ouropinion.. dÉquatÈ accountlnB records have not been kept bythe tharty, or Sufficient accountln8 records have not been kept.. or the charlty finantlal ststements are not in agreement wth the accounting records and rEturn5.' or we have not reIVed 311 the InfOrMaOn and explanions we requlre forour aud Audrtofs Rep)rt Page 7
The Armourers & Bra51er5' Gauntlet Trust INDEPENDE14T AUDITOR'S REPORT- Condnued ResponsIblties01Trn$tees lorthe flnan¢l#l st•¢ements As explalned more fulty In the Trustee'5 responsiknlTLies statement set out 4. the Trustees ère respOne for the preparatlon of the fiDanclal staternents and for belnB sat15fied that they 8lve a true and fair view. and for such Internal contrd as the Trustees detÈrmine Is necessary to enable the prÈparatlon of fInCIal 5tements th are free frorn materlal misstatemeffl. thether due to fraud or error. In weparlng the finandal statements, the Twstees are responsible for assessln8 the charity's ability t¢ continue as a Koing corKeTn. dis¢105in& a5 applicable, matt@r5 related te 8oln8 concern and using the goin8 t0thrn basis of accJ)unling the Trustees efther intend to 1iquKie the charlty or to cease operations. 01 have no realistic altematwe butlo do. thtor'5respom4bllltles forthe audltof thefinnti81 statrmÈnts Our objertlves are to obtsin reasonablÈ assurantr about whdhÈr the financlèl statement5 a5 a whole are free from materL31 mI5Stement. whether due to frau(5 or error, and to issve an audltorfs report that includes our oplnlon. Reasonable assurante Is è level of assurance but 15 not è 8uarantee that an audit Conducted th accordan with 1&4$ IUKI wlll èlways detect a material m155tatement when It exists. W155tatemÈnts tan arlse from fraud or etyor and are considered materfal rf. In¢fvldually or In the a88re¥ate. they CDuld reasonably be expected 1¢ infiuente the econornic deci5ion5 of users on the basls of these Inand41 statements. Irvegularltles, int111n8 fraud. are Instsnces of noTrcomplian¢e w6th law5 and reRul8tlon5. WÈ dÈsi8n procedures ln lIr wth our responbIlItIeS. outlSned above, to detect materfal mls5tatements In respÈtt ef Irre8ularltles, Indudln8 traud. The extent to whlch wr procedures are capable of det¢¢fjn8lrre8ularle5 ifKludin8fraud is detalkd bdow. ased Dll Dur understandSnE of the charity and th2 envlronment ln whlch It ¢perntes. we Idenufied that the prlntlpal fisks of non- compllance with law5 and re8ullons related to the regulatory framework appllc3ble to rpgistered charltles. and we (Dnsldered the extent to whlch n0CoMplinCe might have a materk31 efft on financial statements. We ¥150 (x)nsidÈred those laws and regulatlons that have a dlreci Impact on the preparation of the flnanclal 5tstements sh as (harlties Act 2011 and other lartors sh as taxatffjn. We evaluated management's InntiVeS and opporLunities for fraudulent manlpullon of the flnancial 5tstements IiA¢luding the risk of override of controL51 and dEtermlned that1 prlrKlpal r15kwas rdèted to manual accountiry¥ journa15. Audlt procedures performed by the Èn8a8ement team induded.. DIscu55ions with management indudlnB consldEtofjon of known or suspected In5tan(Ys¢f thaCOmplI3n¢e wlth lows, regula0Th. and fraud. Evaluatin8 mana8ements a)ntrols desi8ned to wevent and detett IrregUlare$. and Identlfylng andteSn8c0ntro In particular journal entries posted with UNUS81 £nI combinations postlngs ty unusual U5er5 or wlth unusual descriptlonk Because of the Inherent Ilmlt8tlons of an audit. there Is a rfsk that we wlll not detÈrt all Irre8ularltles, Indudln8 those loadlng to materlèl mlsststernent In Ihe Inanclal statements or non-comp11ae with re8ulatlon. Th15 rk increases the more that coMplnCe wlth a law or re8ulatlM Lg removed from the events and transactlons refi2cted in thÈ finandèl ststernents, as we will be lÈss likely to become aware of instances of non-c0rnpl1an. The T15k is also 6reater regarding irre8ularities ocrrIng due to fraud rather than error, asfraud In¥rfves IntenOnal contealment.for8eryi Coll10. omi55iDn. or mlsrepresentstlon. A further dÈstriptlon of our re5ponslbllltles for thE audlt of the financlal steTnents Is located on the Flnancial RepDrtir48 Countil's webslte at.. vn¥w.frc.or8.uVaudkorsrespo¢)slblli(les. Thisdes¢riptiun fomis part of our auditor'5 report. Audi¢orfs Report Page 8
INDEPENDENT AUDITOR'S REPORT - Continued
31 March 2024
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the charity’s trustees, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity’s trustees as a body for our audit work, for this report, or for the opinions we have formed.
Andrew Broome (Senior Statutory Auditor) For and on behalf of HaysMac LLP, Statutory Auditors 10 Queen Street Place London EC4R 1AG
10 December 2024
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Aud.report
The Armourers & Bra$lers' Gauntlet Trust STATEMENT OF FINANCIALAcnvmES Yvrt•31 M•rth 2024 Expend&ble EThdvwrngnt Fund 2023 Total Funds fjeba1 Fund Resvlcted Fund5 T4kn1 Funds IrKomefrom". tnatiOnS and Rifts InStment income tharitab &tivltles 85.C 160,994 23I171 18L571 251,077 250,171 Totsl Income Expendltur* on.. RalsSngfund5'. Charftable acimtles 33A61 a3361 364.204 24,245 318.109 266,354 97,850 Totsl ExPendjre Z66.354 33,361 397,566 341354 Net Incoffle befare8ains on Investments I210 1333611 13MOII 93294 Net11055esl g•lns on Investments io 797,427 797A17 -734835 NFf WVEMEMf IN FUNDS 42,810 764,066 794,026 6415411 FUND BALANCES BROUGHT FOAWARD 289,48B 8,911,105 I25{1 9.213A43 9.854.984 FUND BALANCES CARRIED FORWARD 532,Z98 9 675 171 10 007 469 9 213 443 I reColsed 1n$nd losses are induded in the above ststementoffinancval attivhles. JI of thecharltys acthAtle5 derfved from contlnuln8operatlonsdurln8the abo¥e twofinarKlal perio1& SOFA24 Page 10
The Armourers & Brasiers, Gauntlet Trust LANCE SHE 31 March 2024 2024 2Q23 Notes FIXED A55Ers Fixed asset Investrnents io 9.75755 9,003,999 CURRENT ASSETS Stock Debtors Cash at bank and in hand 13.037 83,306 14Z,113 338,457 13,308 89.623 145,5LI3 248,440 li CREDITORS Amounts fallln8 due wthln one year Iz 188.8431 138,9961 NET CURRENT ASSETS TOTAL AS%TS 10,IX17.469 9.213.443 FUNDS AND RESERVES Expendable endowmentfund Restrirted fndS Vnrestri¢ted fund5 De51Knated fur General fund 13 14 9.675.171 8,911,105 12,850 332,298 289,488 10,007.469 9,213,443 Approved bytheTrustees on: J,- L 31--< Mrs Nicola Davies- Chairman. 15 2•L4. Balan Sheet Page11
The Armourers & Braslers. Gauntlet Trust PRINCIPALACCO(MTING pouaES 31 M•rth 2024 The princlpal accountln8 pollcles adopted. jud8ernents and key sources of estimafjw uncÈrtalnty In the preporabon ofthe accounts 4re18id out below. Basls OfpreparaD These account5 have bEen prewed for the yearto 31 March 2024. The ar¢ounts hève been prepared under the hlstodcal c05t Conntion Yiith Items rero8ni5ed at C05t tr8ntIon value Lmless otherwlse ststed In thÈ rÈlant accountlng policie5 below or the ncte5tothe Kwunts. The accounts have been prepared In accordan with Accountin8 and Reportln8 by (harities.. Ststement of Recommended Facti¢e pplkabk to Charle$ preparlng thelr attounts In accordance vilth the Financlèl Reportin8Standard applit8ble In the UK and Aepublic of Ireland IFAS 1021 ISORPI. Sectlon IA of the Nnancial Reportln8 stdard applit2b in the LIK and RepublK of Ireland IFRS 1021 and the Charr(ies Act 2011. The charlty censtitute$ 8 publ benefit entity 35defined by FRS 102. The acttyjnts are presented In 5terlin8 and are rounded tothe neaiest pnd. Qltlul 8tctyJthtln8 estknates •nd areasoflud8effnt Preparation of the accounts may requirethe trurtees and managernentto make }1Cant1ud8ernets and estlmates. There are no items in the a¢cous)ts where Such lud8prnents and e5tlmatsS have been made. AwSsMt ol iolni toncem The trustees have assessed whether the use of the gdng contern assumptlen Is approprlate in preparing these3ccounts. The trustee5 have made th15355Èssment In respect to a period of one year frem the datÈ of appr4)val of these accounts. The trustees of thè charlty have conduded that there are no material un¢ertaintles reLed to events or (nd(lonS Ihat mèy cast snfficant doubt on the abilty of the charlty to continue as a 80lng£onm. The trustÈes arÈ of the opinlen thatthe ch3rity WI have suffioent resour5 to meet Its Ilabilities asthey lall due. Wlth re8ord to the next accourtinE Ferlod, the year Èndln8 31 March 2025, the most signlficant areas that affect the carrwnB value of the as5et5 held by the ¢harFty are ihe level ol Investment return and the performance of the Snvestment markets (see the InveStnI pollcy and the rlsk mana8ement se¢UDns of the tiustees, reportfof mve Informotionl. Income rewttlon lThcome 15 rewisÈd in the period in whlch the d)arfty has eDtIUement to the Income, the amovnt ol Income can k measured reliably and it il probable that the Income will be rece¢d. Incorne comprls¢s dDnions and 81ft5. Investent income and Income from choritabieth1les. Donatlons are recogD15ed wh¢n the charlty confirmation of both the amount settlement date. In the event of donatn$ pledged but not receS¥ed, the orrK)unt is accrued for where the receipt is COndered probable. In the èvent that 3 donation is subject to cond50Th5that require a level of perf¢Ymance before the chartyi5 entitled to the funds, the income 1$ deterrÈd and not rgnISed until ether those condltion5 are fulty met, or the fvlfilment of those condltions is wholty whhlth the control of the charfty and tt Is Drobable th* those conditions wi11 befulfilled Inthe reDortinK perlod. Dwidends are recognised On the dlvldend has been declared and notffi¢ation has been recelved of the dIend due. InterÈ5t on funds held on dep05tt 15 )nded when recelvlble and the amount can be rneasured reliably by the charfty, thls is normally upon noJflratlon of the Intere5tp•ld or payable bythe bank. lrtcornÈ from charltable Kti¥itie5 tonslsts of Incorne recefved from the Armourers and BraSr$, Cambrhlge Forum. The Income Is recognised when recehfabk and the amount can be measured rellably by the ¢harfty.' this15 normally In the peiiod the event tske5 Polic Page 12
PRINCIPl4LAcCOUI1NG POLIOES.Contihyed 31 Morch 2024 Expendlture r•ro8nl¢lon Uabllltie5 are recognlsed as expendY(ure a5 soon a5 there 15 a legal or con5tructyve obllgJtion commSttinE the charfty to make a payment to a third party. it & probable that a transfer of ecornmlc benefits wlll be required Sn sÈtdÈmÈnt and thÈ amount 06 the c&IIEadon can be measvred rellabty- AJI expenditu 15 accounted for on an accruals basls. Expendlture ts)mprlsÈs dlrÈct costs and support costs. expenses, Indudln8 support Costs, are alloced or apportloned to the appllcable expendlture headlngs. The classltlcatlon between artfvhies Is as follows.. a. EKpeDditure on raislng funds CL¥nwi5es fees pald to Investment managers in connertlon with the management of the chafftrfs 114ed Investments. b. Expenditure on ¢haritsble artivit$ Indudes all costs assodated wlth furthering the charltable purposesof the dmrity through the provlsion of its charitable actiwtSes. Such costs Sndude charftable grants, the costs of the the Armourer5 and Br8sler< Cambrldge Forum arKI supportand Bovemance Cotts. c. Grants payable a Included in the statement of finantial a¢tlwltles when approved an(1 when the Intended recipient has elther re1Ved the funds or been Informed of the decislon to make the yant and 5atlsfled all performance condllons. Grants apkYo¥erf but not paid 3t the end of the finandal yeaT are accrued. Grants where the bpneficiary has not be@Th Inforrned or ha5 to lulfll Frformance condltlons before the grant Is reaSed are not accrued for bLrt are dlsclosed a5 fTnanclal commfjtments In the Th)tes to the accounts. d. Support costs representlndirect charltable expendlture. In order to carry out the prlmary purposes of the charlty It Is necessaryto prowde 5UPPOrt In the forrn of per59nTrEI dpvEhpment, financlal procedures. prowsion Df offlre serv15 and equlpment and a 5ultable worklng envlronment. Support Costs also include governance c05t5 involvlng the publlc acccuntabllity ol the charity rindudin8audit costsl and c05t5 In re5pe£t to its compliènce with reguL4tion and 8ood p1acti. All exppndlture Is statd Incluslve of irrecoverable VAT. Fixtd asset Imvesiments Listed investments are a forrn of baslc flnanclal instrument and are Inltsally recoEnlsed at thelr transaCOn value and subsequentty rne3sured attheir fair v31ue a5 at the balance Sheet date usin8the tlo*ng quoted market price. The chartty do¢s not acqulre put optlons, derIVateS or other complex flnanclal Instrument5. RealL8ed gains lor losse51 on investrrvént assets are calculated as the difference between disposal prOed5 and thelr openlng c8rrylng value or thelr purchase value If acqu1¢ subsequent to the day of ihe financSal year. Unreallsed 8alns aThJ losses are cal(xJlated a5 the dlfference between the falr value * the ye8r end and thelr carrOn8 value at that date. Reali5ed and unrealised Investment galns lor losses) are combinÈd in the ststemÈnt of finanoèl Xtivies and are credfted lor debStedl in the year in which they arfso. Sto¢J15 Stotks are stated atthe lower of cost and net reali5able value. DeOr$ Debtors are recoBni5ed attheir settlement amounL less any provisKin for Non-tO¥erabl11ty- Prepayments are valued at the amount prepaid. They have been dlscounted tothe presentvalue of the future cash recelpt where such dlscountlng is materlal. P8ge 13
PftINapALACCOUNnNG pouaES. CobrtlNed 31 March 20Z4 CrÈdltor$8nd PsIDS Credltors and provision5 are rÈco8nlsed when there Is an obllgatbn at the balance sheetdate as a resutt of a pastevent, It Is probable thtt a transfer of ecenomk terefft wlll be re9Lrfred In S*emen¢ and the amount ot ihe setdement can be estSm3ted rellably. Credltors and prov151ons are reco8nlsed atthe amountthe Charity èt)tldpates It will pay to settle tho debL FUNDsTrucfuRE Expendable endowment fund Endowrnent fvnds comprlse menles which must be held as capitsl. Where the trustee5 have a power of dlscretlon to convert endowed capital into Income, the fund Is known 35 an expendable endowment. Income ar151n8 from the expendable ondowrnent 15 applled forgeneral charltable purp0585. Restrftted lunds The restrlcied fuThd5 relate to fitnds whlch have been reIved their use restrlcted to 3 5peclfic purpose, or grnnts •nd don•Yons sub)Èrtto donor Imposed condi(ion5. Gener•1 fvnd The general fund, bein8 unrestrlrted fvn&, represents those monles whlth are freety available for applicalion toward5 achlevinz any tharltalje purpDSÈthat falls wlthin the objects ofthe charity. Pe$ Page14
The Arniourers & Brasler5' Gauntlet Trust NOTES TQThEAccoupifs 31 Mayth 2024 DONATIOMS AND GIFTS ENpendabl¢ Endtywment Fund 2024 2023 Totsi Funds Gn•AI Fwnd Restrkt Fynd5 Funds The Materlals ProcesslnB Instltirte Rolls-Royte plc AWE DoThatlon5 from Indlvldual$ Otherdonation5 2024Total funds 30 25.1? 30,0 30£ 25,CO) 25.(KM) 99.751 L820 181.571 30M 75,314 75,314 75,994 160.994 'A restricted donation of £12.(W was pald into the Peter & Nlckl Mason Fund from prioryear. fvom Inv•strn•nts 2023 UK eqvltles UK government stctkand fixed InterÈstsecuritiÈS O¥ersÈa5 fixed interest seturles Interest on Cash Dep¢5its and Other Income Accrued lThcome 147,218 169,370 81953 77.923 3,784 14171 251,077 corne from tharftsbleAciivllles 2024 2023 Armourer5 & BraslEts' Cambrhl8e F(xum 3.000 3.(KJO Expendab Endowment Fund 2023 ExporKlltsrn on r•151nB lund¥ Investsnent ManaBement Fees 3a,361 24.245 EWedIre on (TherltableAdlvltles Unrestrlrted Funds 2023 Totsl Funds Total Grants yOe In0te 61 Support Costs (note 71 2024Total Funds 179.860 86,494 266,354 97.850 277,710 86M94 364.104 236.913 81,196 318,109 97050 fjrnhts P)b 2024 2023 AmurerS & Braslers. Rolls-Royce scheme Ire5trlcted £25cOl Armourers & Braslers. Materlals Processlt)8 Instltute Scheme (restricted £3Q.OODI ArmourÈTS & BrasiÈr5' AWE Scheme (restricted Éao.omi Charitsble grants tOW3rds materials Science (restricted £12,LKK) Mason Fundl Other ch3rftrble 8r3nts 36*50 ¥910 36550 32,910 28.950 101503 37,C 236,913 125,850 47.3 277.710 The ¢harity makes Fxants in accordante with its grant rniking polw setout in the tru5tees' rekYJfL grants made b¥ charity in the year are listed in 3ppendices A to E attsched to tfÈse accounts. Note5 P8ge15
The Armourer5 & Brnsiers, Gauntlet Trust NOTES TOTHE ACCOUNTS 31 Mzrth 2024 Supportcosts 2023 mln15tratiOD char8efromihe wshIP1 Company of Armeurers & BraerS Staff costs Offlce Expenses Audsiors Remuneratlon f0rAlIt$$ry1cÈs 13.469 58.348 5,028 9,650 86,494 11,905 55.693 4,839 8,7 81,196 Stsff Costs and renwnernwon oftNStee54nd kMInIS¢m¢ peysonnel The thgrlty employed I member ofstsff from tAp1 202412023- 11. T¢)tsl staff costs were.. Br055 pay £45.975. EmplDyers nationèl Insurance £5,156p pensions £6.766 and lile in5uranco £450. No wtee received any remunerafjon or relmbur5ed expenses In respett of thelr servKes as a trustee durins the year12023- £nill. TAXATION The Armurers arKI Brasl¢rs' saunetTruSrIs a registered tharity and, therefore, K% lIae to Income tax or corporatlon tax on income or gains derived from charitrdblt 8rtivitles as tly fall within eMemptlonsivailab to Strred chèrlfjes. io FIXEDASSET INVESTMEPITS Movements in fixed asset In¥estment5 durlngthe yearwere as follows.. 2023 Marketvalue3t IApril 2023 ditbns atC05t Di5posoI proceeds Adlu5trnent NetgalnsllkJ55esl the year 8,655,839 2.759,902 $71.IXIII 1188.9021 9.613,283 3.043,599 13.266,2081 222,611 957,446 Market value at31 Marth 2024 Cash hekl by in¥estment mènè8ers 9.642,167 8.655.839 9,757,855 9 LK13 999 Costtsf frAed In¥estsnents at 31 March 2024 7 424551 Hxed a55et investm*ts held at 31 March 2024compri5Ed thÈ followln8: 2023 quidity Equlty DfverflefS 594.110 ,255,744 908,IXII 9 757 855 626,8n 7,363,287 1013 840 9 003 999 All listed investments were deèlt on a recognised sto¢k exchange. At 31 Marth 2024 the portfolio tontsined no Indyalty mzterfal holdlnB5. Note3 Pa9e16
The Amiourer5 & BrdSiers' Gauntlet Trust NOTES TO THE ACCOUP4TS 31 March 2024 li DEBTORS 2024 2023 Tax recoverable on Snvesfftnt Income Investment income receivable otherdebror5 and prepayrnents 82 89.541 70324 12,901 83,306 12 CREDrroRS 2023 Worshlpful Company of Amourers & Br351ers Accruals and LkfetTed Incon Grant Creditots Othercreditors 79.820 7,77B 1,245 13,693 23A86 I16 There is rn movemeni to deferred IrKome for the yea¥. eXPENDA8LE ENDOWMeNfFUP4DS The expendable eTrJowment tomwlsesdonètionstothe thèrity to be held as tapital. including any resuttant reaSed orunreallsed movement on Investments. RÈstritted Funds At IApril 1023 A¢ 31 Mwch 2024 Ewp•ndltur• Materfals Proce5sln8 In$tUte Scheme Ro115-RDYteSch2rn AWE Scheme The Peter & NSckl Mason Fund 30.iYM) 25,CO) I30,0) 125,8501 130.0fy)1 IiiLMJOI 97050 850 12000 12.850 The restrttted funds fr¢m corporate partr*rs are forgrants and awardswhlch meetthe qu1ments ofthe relevant schemes. 15 ANALYSISOF NET ASSETS BEfwEEM FUNDS Expendoble Endowmert Fund fj¢nerdl Fund R•Strkt4d Funds Totsi 2024 Fund balansat 31 Mafch 2024# represented by.. Flxed asset Investments Current assets Creditor5'. amounts fallln8 du¢thIn ¢ne year Total net assets 82.685 3a8N57 188,8431 332,298 .675,171 9,757.856 338,457 188,843 lo,769 9,675,171 16 RELATED PARTY TRAP45ACTIONS The trustees a members of The Worshlpfvl Cornpany of Armourers & Otasiers. therefore the Wor5hlpful Company Is consldered to be a related pary.TransartloThs the Worshlpful Company are disclosed In the approprl8te noies to the accounts. There were no other transathons wlth any relatsd partles12023- £MIII and the a no balance5 outstandlng with any related pÈrti2s at the Balance Sheet date512023- Erlill. DonJilon5from trustees durlngthe yeartotslled £6.41012023- £4.2301. Not83 Page 17
ARMOURERS & BRASIERY GAUNTLEfTRusr APPENDIX A ROAoycE STATEMENT 202>24 Prior Year 31m.23 Aclu•l Yearto 31.03.24 l Educatlon 2 School Level 3 Primary Schoo15 Equlpment Grants 4 Secondary Schools Equipment Grants 5 Salters Festivals of Chemistry 6 Royal Armourles Schools Prolert 4,000 4,000 4,000 800 800 1,000 9,800 9000 8 Under8raduote Level 9 Unlver5ity of BirminBham 10 uniVety of Cambridge 11 Imperial Colle8e, London 12 Unlverslty of Manchester 13 University of Oxford 14 Swansea University IS University If Strathclyde 16 Industrlal Experience Awards17 at £l,CpJOI 17 18 Resear¢h Student Lth*l 19 Conference and Placement Travel Grants 21 22 Post Dortoral Level 23 Armourers and Bra5ier5' Cambrid8e Forum 24 Armourers, RolLs-Royce Fellow5hlp 25 26 Totsl 27 28 Funded 29 Ro115- Royee 30 A&B GT 31 Funded Totsl 500 500 SC 250 250 250 500 150 7,500 9,900 7,500 10.500 11.500 11,750 11,350 11,350 4,000 5,000 36.450 36 25.0 25,OC(I 11,650 25mO Appx A- Roll$-Roy 2024 Page 18
ARMOURf RS & BRASIERS. GAup1fTRVST APPENDIX B AWE STATEMEiif 202>24 Prlor Year 31.03.23 Actual Year to 31.03.24 l Educatlon 2 School Level 3 Matèrials Reuuitin8 at Universities 4 Universlty of Cambrldge Schoo15 Outreach 5 Update Course for Teachers 3,0 2,OCKJ 7,OLXI 7 Undergradyate Level Industrial Experience Awards 9 Manchester Universlty Prolect 10 General Undergraduate Support 11 Metallur8y Awards/Bursaries 12 Academic Priies," 2 x 250 13 14 Research Siudent Level 15 Conference Travel Grant5 16 Research Student Prizes 3 x 250 17 Special Project for Centenary of University of Cambridge DMSM 18 Arrnourer5 & Brasiers, C3mbrid8e Forum 19 Projett Fund 20 21 Imperial College Block Grant 22 Special Projert Fund (Merye with MS) 23 Total 2,000 5.9CQ 5CX) 10.4Q) 900 2.9C(I 9,7(Kl 1,350 5,750 1.000 LOLKS 12.050 10,000 7,250 10,350 35.(KXI 28,950 24 25 Funded 26 AWE 27 A&B GT 28 Funded T¢)tal 2S,LXK) 30,C 25,OLKI 35,000 Appx,B- AWVE 2024 Page 19
ARMOURERS & BRASIERS, GAU14TLETTRUST APPENDIX C MPI STATEME1 2023-24 Prlor Year Y•arto 31.03.23 31.03.24 l Education 2 Researth Student Le¥el 3 Post Graduate Research Syrnp05ium 4 Mlllman scholarships 450 31,310 31.760 15,072 16,838 31,910 6 R•s•8r¢h Comnmmity 7 Armourer5 & Brasiers, Cambrldge Forum I,oc 9 Totsl io 11 Funded 12 MPI 13 A&BGT 14 Funded Totsl 30,0(Y) 30,0(*) 2,910 30.1 C- MPI 2024 Page 20
ARMOUREAS & BRASIERS. GAU14TLET TRUST APPENDIX D MATERIAL SCIENCE SCHEME STATEMENT 2023.24 Proor Athal Year Ye•rto 31.03.24 31.03.23 l Edu¢atlon 2 Sthool Lwel 3 Primary khools Science Programme 4 SE(Lindary Schoo15 Science Pro8ramme 5 Slxth Form Material Prlzes 6 SATRO. Problem Solving Challenge 7 IOM3 Magic of Materials Summer School IOM3 Teachers Conference 9 IOM3 Knowledgè Quarter 10 Salters, Festivals of Chemistry 11 Royal Armouries Materials Project (Fort Nelsonl 12 Armourers Ambassador Challenge 13 University School Links 3@ £3.CM)O 14 15 Under8radu•te Level 16 Undergraduate Summer Placernents & Experlence IGTadm5n15teredl 17 Sheffield Hallam University For*n$ic Engineering S¢holarships Ilst & Final year 4,3C(J 15,900 6,81)0 1,000 1,000 4,200 I,orKJ 2,500 3,000 31,900 4,21X) 18,600 10.000 1,200 1,800 18 Indu5trlal Experlence Awards 19 Swansea Unlversty, Entry Sponsorshlp Imax per annuml 20 21 Unfvetslty Medals & Awards for Excellence 22 Aston UnlversSty 23 UnivÈr51ty of Bath 24 University of Blrmin8ham 25 University of Cambridge12 @ £250 plus one rnedall 26 Crènfleld UnSversty13 x 1501 27 Imperial College, London 28 Lancaster University 29 Universrcy of Leeds 1st Award 2025126 30 University of tiverpool 31 Lou8hborou8h University12 @ £250 Plus 2 Medals) 32 University of Manchester 33 University of Nottingham 34 University of Oxford 35 Queen Mary University ol London 9,000 1,000 21.200 20,050 21,850 250 250 250 500 250 250 500 300 1,250 250 1,250 250 250 500 250 250 250 250 500 250 250 250 250 Appx.D- MS 2024 Page 21
36 Royal College of Art 37 Unlverslty of Sheffield 38 Sheffield Hallam Univenity 39 University of Southèmpton 40 Universlty of Strathclyde 41 Swansea University 42 ijniverslty College, London 43 Medals 500 250 250 250 250 250 250 875 7.625 250 250 250 250 250 6,550 45 Research Student Levèl 46 Oxford Bursary 47 Post Graduate Cofiferences and Placements 2,000 15,155 17,155 2X)00 11,000 13.L 49 Post Dortoral le1 50 tsmbridge Fellowshlp Imarchl 51 Oisdnguished Visf(in8 Fellow 52 Grant- Mary Rose Trust 53 54 Pmfesslonal Institutions 55 Ititute of Materials-Youn8 Persons, Lerture QJmpetitlon16 Re8ional Prizes of 56 tivery Schools 57 Royal 5ocietylRAErg Award (Alternate Years-Prfze Money, Medal, En8ravln8 & 58 Instkute of MaterSaSs Robert Perrin Medal1792 + 551 59 60 Other 61 Sheffleld Scheme Awards (Cutlers In Hallamshlrel 62 TATA Steel Scheme GT contribution rè-allocated 63 (£11,0 less 6th form prizes under school level al)ovel 64 The Mason Fund 65 Surnrner Placements 66 Other ACtIvleS 67 Contingency Fund 68 Imperial Colle8e Bkxk Grant 69 Special Project Fund IMeT8e with MS) 70 Totsl 71 72 Funded 73 Gauntlet Trust 74 Peter & Nikki Mason 2,500 2500 -904 J.596 2.5(xJ 900 900 3,672 35 4.601, 2,580 850 4,330 3,500 3.500 12,000 ,0 1,050 42,445 125A50 99,557 113,850 12.IXHJ 11SJSO 12,000 12.000 Appx.D- MS 2024 Pag• 22
ARMOURERS & BRASIEKS. GAUNllETTRUST APPENDIX E GENEPALGIVING STATEMENT 202>24 Prlor Year 31.03.23 A¢tual Year to 31ffj3.24 I Commun4tylArmed Forces 2 Prizes 3 Royal Navy- Armourer5 Prize 4 Royal Navy- Atmoury Prize 5 Royal Navy-junior Weapon Engineer Officer Pdze 6 Britannia Royal Naval College 7 Faslane Flotilla- Submariner 8 Faslanè Flotilla- Sufface Vessel 9 Royal Marines (Amours) 10 Army 11 Royal Army Chaplains, Department 12 Royal Elettrical & Mechanlcal Englneers, Armourer 13 Royèl Elettritèl & Methanlcal Engfjneers, ArtIfir 14 Weapons Caurse 15 Royal Armoumd Corps.13 Courses, 3 Troop Leader Statuettes) 16 Royal Air Force 17 Cosford En8ineerin8 Officer 18 8 Squadron 19 WeaponsTethnlclan (ArmourI- Medal On 20 Cost of Medals1£25 x 161 21 22 Military RÈstrnr 23 first Aid Nur51n8 Yeomanry 24 Mllltary CharStles 25 VC & GC Association 26 Royal Britlsh Leglon 27 Communlty 28 Alexander Forsyth I£1 Award + £450 Medall 29 Sherlff5' & Aecorder's Fund 30 31 Childrenlyouth Education 32 The Utysses Trust 33 Livery Schools Llnk 34 Army Cadet Units Iwhipps Cross) 35 36 Medl£allHeaiih 37 Hospice (Richard Housel 250 250 SC soo 500 2,500 500 500 500 soo soo 550 1.0 3.050 500 2.oc 2.01)) 4.0 2.0(fJ 4,OC 2,000 3,OC Appx.E- Ganaral GIng 2024 Pags 23
38 39 ArtslArn15lATrnour 40 Guildhall School of Music & Drama 41 Brass Prize 43 West Dean Cdle8e- Armour Studentship 3.oc 45 Chrlstlan Mission 46 St Marg¥ret Lothbury 47 St Paul's Cathedral 48 United Guilds Seryice 49 SO Events 51 Gauntlet Trust Subscription Supper 52 Lord Mayor's Appeal 53 I.ooD 500 I,oco 1,500 1,50) 4,250 4.250 2,000 6.250 6.250 55 O¢casslonal Grants 56 Scarabeus Aerlal Theatre 57 The Compasslonate Friends $8 The Rodolfus Fgundation 59 The Spitz Charitable Trust 60 Teddy's Wish 61 Chan8ln&Tunes 62 Yes Outdoors 63 Stuart LowTru5t 64 DEC Appeals 65 Contingency 66 67 Total i.OLX) LOC 1,0 4,OtQ 5,000 s,000 24,¢J]O 47300 5,OC 36.250 Appx.E- Genefal GIng 2024 Page 24