THE WORSHIPFUL COMPANY OF PLAISTERERS CHARrfABLE TRUST [REGISTERED CHARITY AIUMBER., 281035] 'The Plalstererg Charlty" REPORT AND FINANCIAL STATEMENTS th lor the year ended 5 April'2023
THE WORSHIPFULCOMPANY OF PLAISTERERS CHARITABLETRUST CONTENTS Pagè Trustees, Annual Report Report of the Independent Examlner Statement of Financlal Activities Balance Sheet Note5 to the Financ131 St3tement5 10-15
The Worshipful Company of Plai5terers Charitsble Trust Reference and Admlnlstratlve Detalls Charlty Name.. The Worshipfvl Company of Plaisterers Charitsble Trust CharSty Reglstration Number: 281035 Prlnclpal Oflice.. Plaisterers, Hall l London W311 LObJDON EC2Y 5JU Trustee5: Mr P R A Baker, Past Master & Chalrman (Re-appointed 19 July 20221 Mrs M A Coates, Deputy Master IRe-2ppointed 19 July 20221 Mrs B Cook, Liveryman (Retired 19 July 20221 Mr T A W Edwards, Liverymari (Re-appolnted 19 July 20221 Mr S A Gilbert, Mastèr (Appointed 19 July 20221 Alderman A l Gowman, Deputy Master (Retired 19 july 20221 Mr W P Mahony, Past Master (Re-appointpd ig July 20221 Colonel G S M Manger, OBE, Cleyk IRe-Bppuinted 19 July 20221 Mr Samuel Philip Stelnbock, Liveryman IAppolnted 19 July 20221 Solicltor: Wllliam Sturges LLP 8urwood House 14116 CaxtDn Street LONDON SWIH OQY Banker.. National Westminster Bank PIC St. Paul's Branch luxton House 98 St. Paul's Churchyard LONDON EC4M 8BU Independènt Examlner., Moore Kingston SÈMlth LLP 6, Floor 9 Appold Street LONDON EC2A 2AP Investment Manager Rathbone Investment Management Ltd I Cur20n Street LONDON Wll SFB PaEe: I
The Worshlpful Company of Plaisterers Charltable Trust Trustees. Report PRINCIPAL ACTIVITY The Charltable Trust supports individuals and eharities in accordance with the Objects of the Charity as stated in the Trust Deed dated I July 1980 and as further explained in the Grants Policy stated below. It5 income arlses from The Worshipful Company of Plaisterers and from Freomen and Liverymen of the Company, together with inve5trnents and other donations, gifts and lega¢ie5. Bursarle5, giants and other donations and charitable expendlture are declded upon by the Trustees, who consult wlth the Court of Assistants and other Interested parties, where appropriate. GRANTS POLICY The Trustees conslder., lil Grants to members, widows and their dependents In need. lill Educational Grants In furtherance of t¥alning and education In plastering. lilll Educational Grants generally, Including Cathedral Cholr School Bursaries, 3nd other music related bursaries. livl General Charitable Grants with a foeus prlmarily on.. lal Charitles and worthy cause5 Wlth a plastering emphasSs,' Ibl city of London l London charities with a"people" focus towards the disabled and dlsadvantaged,. and Icl Charities tonnected with HM Armed Forces andlor music educatSon and trainlng. GOVERNING DOCUMENT The fund is governed by a Trust Deed dated I July 1980. The Trust Is establlshed for charltable purposes. Any capital or income not required for the charltable purpuses of the Trust can be Invested by the Trustees. The Financial Statements and Accounts prepared annually comply with the Trust Deed. TRUSTEES In accordance with theTrust Deed, the Custodian Trustee is the Worshipful Company of P131Sterers Ithe Livery Company) and the seven Managin8 Trustees are.. The Master, Deputy Master and Clerk lex-olliciol for the timE being), together with two Past Ma5ter5 and two Liverymen. The two Past M3Sters and two Liverymen are appointed by the Court of Assistants of the Worshipful Company of Plaisterers annually at the July Court Meetlng. The Trustees who act during the financial year, wlll normally reflect the changes made from the date of Installation of the new Master, Deputy Masterand Clerk lif applicable), at the Julycourt MeetingJ1.e. p3rtway through the financial reporting year, as well as the appointment of any new Pzst Master or Liveryman Trustee. The re-appointment of 3nd changes to the Trustees during the current financial year were approved at the Court of Assist&nts Meeting held on 19 July 2022. Page 2
The WoY5hlpful Company of Plaisterer5 Charitable Trust Tru5tees' Report The Managing Trustees who acted during the current financial reporting year were as follows'.- Mr P R A Baker, Past Master & Chairman Mrs M A Coates, Deputy Master (Ex-offlclo Trustee) Mrs B Cook, Liveryman IRetired 19 July 20221 MrT AW Edwards, VeryMan Mr S A Gllbert, Master (Ex-olficio Trustee) (Appointed 19 july 2C>221 Alderman A J Gowman, Deputy Master (Ex-officio Trustee) IRetlred 19 July 20221 Mr W P Mahony. Past Master Colonel G S M Manger, OBE, Clerk (Ex-offlclo Trusteel Mr Samuel Phi1Sp Stelnbock, Liveryman IAppolnted 19 july 20221 RESTRICTED FUNDS The Manchester and 5allord Fund Established in 2002 by a Gift of £50,000 Iwlth an addltional £l,OtXJ In 20041 from the Trusteeg in the winding up of the Manchester, Salford and District BuildingTrades Employérs, Association. The fund is design(Iled to 5UPPOrt education and tralnlng in the plastering industry. Restricted Trainlng Fund Established in 2007 wlth a gift of £IOO,OCX) from a generous benefactor, the airn of the Fund is to support and malntain the quality and diver51ty of plasterlng and dry lining 5kllls in the UK. With the agreement of the dc>nor this will be achleved by way of bursaries, grants or other awards. With the agreement of the donor of eath of the above two Fund5', the Trustees resolved to Invest the c2pltal of each Fund to create income to achieve the Funds indivldual aims, It wa5 also agreed by the donor5 of each Fuhd to apply the Charitable TrLtst's Reserves Policy, described on page 5, to the Income Eenerated from the Investments. The Trustees resolved (>n 11 June 2015 to aTnalgamate the two funds, henceforth be known as 'The Manchester and Salford and Restricted Training Fund,. The Spurllng Bursary Established in 2018 by a generous donation of £50,000 made by Liveryman Andrew Spurling in recognition of the 200 Anniver5ary11817- 20171 of some twelve Spurling famlly members of the Livery, of whom seven were former Masters of the Company. The Income from thls donation Is Cltrrently being used to support a bursary lor the furtherante of education and training In herltage plastering skills. Page 3
The Woyshlpful Company of plaisterers Charitable Trust Trustees, Report DESIGNATED FUNDS 500 AnnlveYs8ry Fund Establlshed to commemorate the 500, Anniversary of the grallting of the first Charter to The Worshipful Company of Plalgterers in 1501. The Income from this fund currently supports a chor15ter at St Paul's Cathedral. Harry Humbèr Fund Establlshed In memory of Past Master Harry Humber. Originally the income supported a bursary for a post graduate student at the Guildhall School of Music and Drama but rnay be used for any mu51C Telated educational need. During the current financial year, this Fund has been used to provide a seho13rship bursarv for a student at tho Lou£hborough Schools Foundation, of whlch the late Past Master Harry Humber was an alumnus. Henry Mott Fund Established In memory of Past Master Henry Mott. The Income. supports a chorlster at Peterborough cathed1. Transfers from the Unrestricted Geneial Funds of the Charily are made to the Deslgnated Funds, where necessary, to ensure that the Trust meets the ongoing oblectlve5 of these three Funds. The Platlnum Jubllee Fund During the previousflnancial year 2021122, the Trustees considered a propos81 to establish a Platinum Jubllee Fund to mark HM The Quoen's Platinum Jubilee in June 2022 and agreed to provide a sum of £50,QOO to be allocated as one-off grants to Four of the Livery Company's Military Affiliatos and Peterborough Cathedral, all of whom shared significant annive15arles with the Livery Company and the Charity durlng 2021122. At the january 2022 meeting of the Court of Assistants, the Livery Company resolved to match this allocation and made a glft of shares to the charity to the value of approxlmately £50,000, which were subsequently encashed, thereby establishing a total fund value of £IOQ,OIKJ. The charitable organisations selected by the Trustees and the level of one-off grants agreed to be pald were as follows.. Royal Marines Association (The Gordon Messenger Centrel SRR A5SOCl2tion (The Plalsterers, Educational Fundl HMS Dragon 282 IEast Haml Squadron Royal Air Force Cadet5 Peterborough Cathedral £45,000 £15,000 £5,000 £15,000 £20,000 Only one grant Wa5 paid during the previous flnancial year 2021122, namely the £15,000 grant to thé SRR Association. The £45,000 grant to the Royal Marine5 Association was paid at the start of this financial year end and it is anticlpatèd the remaining grant5 will be pald during 2023/24 financial year, the latter particularlv for HMS Dragon, which Is currently in è naval dockyard undergoin2 a major refit with an unknow recommissionlng date, anticipated to be durlng 2023124. Page 4
The WorshSpful Comp3ny of Plaisterèrs charitable Trust Trustees, Report STATEMENT OF TRUSTEES RESPONSIBILITIES The Charibl5Trustees are responsible for preparing the Annual Report and Financial Statements in accordance with applicable law and Unlted Kingdom Accounting standards (United Klngdom Generallv Accepted Ac¢out)tinE PractKel. Charity law requlres the Trustees to prepare financial statemènt for each financial year whlch give a true and fair view of the state of the charity and the Incoming resources and application of resource5 of the charity for th3t period. In preparing those flnancial statements, the trustees are required to.. al select suitablo accoLEnting policies and apply them con51Stentlv bl observe the methods and principles in the Charities SORP., cl make judgments and estimates that are reasonable and prudent,. dl state whether applScable accounting standards and statements of recommended practice have been followed, subject to any departures dlsclosed and explained In the financial statements; el prepare the financ131 statements on the going concern basis unle55 It is Inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping proper atcounting records that disclose with reasonable accuracy at any time the. financlal position of the Charity, and whlch enable them to ensure that ihe financial Statements comply with the Charltles Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the TrEst Deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable Steps forthe prevention of fraud and other irregularlties. Approved by the Trustees and slgned on their behalf by,. PRABaker TrLtstee Date; c>S Page 6
INVESTMENT INCOME The Trustee5 look for a 'totsl return, for income comblning c3Pltal gains and income. The performance of the lunds showed a deficSt In the net movement o fsjnds of £161,802 this year12Q21-22.. £85,101 surplus). Thls bring5 the total funds In the Investment Portfollo to just over £2.3 million12021-22.. £2.5 millionl. Withl these figures, there are net iealised and unreali5ed losses on investments of £198,700 this year against £93,998 gain last year. PUBLIC BENEFIT The Trustees have had regard to, and are fully aware of, the guidance on Public Beneflt issued bythe Charlties Commlssion and have taken notice of this guidanee In all relevant discu55iDns on distributions of grants and bursaries. During the year £59,78812021-22.. E145,4J61 was distributed to various grotps of reclpi@nts as follows.. • 35% In the furtherance of education and training in plasterlnE 52% in bursarles towards the educatlon of Choristers and the provlsion of financial support for music educatlon initiatives to Khoo15, including those in impoverlshed areas of the Clty of London and Greater London 0% to HM Armed Forces benevolent funds15ee note below) 12 % to the Masters, nominated charities121122,' The Children's SDciety & 2022123 Musl¢ Masters) l % to other registered charities in the City of London and Greater London area Note,, The Platinum lubllee Fund disbursements were accrued in the 2021122 Flnancial Statements. RESERVES POUCY The Trust Is a grant-making trust, whith derlves its income from donations and investments. In recent vears, the Trustees have slgnificzntly bullt up the charltkble foundation to over £2.3 million by limiting distributions, mrjving Investments into equities and recelvlng large equity transfers. Whilst the Trustees W15h to continue to increase the capital reserves, at the same time they also wlsh to make an increase In charitable grants, subject to an overall increase In the avallable incoming resources. RISK ASSESSMENT As descrlbed in the foregolng sectlon the Trustees have adopted a reserves policy whlth Is designed to increase the assets of the charity over tlme to ensure Its long-term future viabillty as a grant-making trust. They have revlewed the risks that could possibly be faced by the Charity and are satisfied that by taklng a conservative view, they are mitigating the risks to which the charity may be exposed. Page 5
INDEPLI NDENT EXAMINER'S PORT IHE WORSHIPTr UL COMPANY OF PLAISTEI RERS CHARITABLE TRUST FOR THb YEI AR ENDED 5tlh APRIL 2023 I i'epoi't to tlie I'ivstees on niy exainination of tlie accounts of the WoLsliipful CoLnpaiiy of PlaisteiErs Cliai'itable Trust (tEie Ti'Ll$t) for tlie y¢aJ' aided 5 Api'il 2023. Responsibfiiltles and b&sis of I'epoi't As tlie cliaiity tiustees of the Ttust you are responsible foi. the pieparation of the aCContS in accoi'dance with the reqllireo)ents of the Chayities Act 2011 ('the Act'l. I report iii irspect of iny examinatioii of the Ti'ust's accouuts cai'Li¢d outu11d. section 145 of the 2011 Act and in c&tryli)g out iny examination I have followed all tl)e applicable Directioi)s given by the ClritY Commi8sxoii und&. section 145{5)(b) oftlie Act. Independellt s st8t¢ment I hav¢ Completed lliy examinatioll. I confirin tli&t no nMterial Inatters have eome to Jny attention in conlle¢tion with tlie examination gaviiig n)e cause to believe tliat in aiiy ittatei'ial respect-. aeeounting i'etoi'ds were not kept in I'espect of tlie TLT]St as requii'ed by section 130 of the Act. or the accounts do not accord witl) those reeords. oi. Ilie accounts do not cottiply with the applicable requii'ements coi)cei'niiig the foilln and coiilent of accoiints set oiit the ChaLlties lArOunt8 aiid Rei)orts) Regulations 2008 otliei. than aiiy requii'ement that tlie accounts give a'true ]d fa1 vi¥w' whicli is not a m&ttei' considered a8 part of ali independciit cxamiiiatioii I Ive Ao coiicei'ns alld have com¢ aci'oss no otliei. i)iatl¢i'g in conneclioll with die examinalion to wlii¢l) atteiitiOJL should be drawll in tliis i'cport in order to enable a pi'op¢r uiiderstanding of the accounts to be reaulied, o(xe &n LLP Adam Fullerton VCA DChA, On btli8lf of Muore Iangslon Smith LLP Chartered Accountants 6t1) Floor 9 Appold Sti'ect LA)ndon EC2A 2AP Date.. 6 September 2023 Pago 7
THE WORSHIPFUL COMPANY OF PLAISTERERS CHARITABLE TRUST STATEMEI NT OF FINANCIAL ACTIVI'IIES FOR THE YEAR ENDED 5tli APRIL 2023 Unrestricted RestrActed Total Fund$ Uiii'e5tricted ReBtrfieted TDtAI Funds Funds Funds 2023 Funds riunds 2022 Not¢s Incoiiie And eMd¢)Ivments DotJation5 and legacies Investment ittcoille TOTAL tNLOM 47,865 49,610 97,475 47,865 58,732 106.597 95.481 43,511 138,992 95,481 51,469 146,950 9,122 9,122 7,958 EXPEI NDITURE Costs of i'aising ftll)ds Investsnent M8nageinent Costs Chai'itable activ%ties TOTAL LXPENDITURK 3,940 43,879 733 21,147 21,880 4,673 65,a26 69.699 4.386 150,220 154,606 802 429 1,231 5,188 150,649 155,837 NF.T opfi.RATING INCOMEIllKXPENDtTURE) 49,656 (12,758) 36,898 {15,614) 6,727 {8,887) OTHER IiEI COGNlbbD GAINSI(LOSSES) Ga%nl(Lossl on Investsnents 176,342 22,358 (198,7QO 79,503 14,485 93,988 NLT INCOMEI(EXPENDITURE} (126,6861 (35,116) {161,802} 63,889 21,212 85,101 Gross ti'ansfei's between fiinds 121,880) 21,880 21,212 (21,212) NET MOVEMENT IN FUDIDS {148,566) 113,236) (161,802) 85,101 85,101 RECONCILIATION OP FUNDS Total fuiids bi'ollght foi'wai'd 12 2 196,535 297 049 2,493 584 2,111,434 297,049 2 408,483 BALANCES CARIUED FORWARD 2,047,969 283,813 2,331,782 2.196,535 297,049 2,493,584 All ainounts rekate to eontinuing activities. All ieeogllised gains and10sses are lli¢luded ill tlie Stateinent of Finaiicial Activities. Page 8
THE WORSHIPFUL COMPANY OF PLAISTEREI RS CHARI'fABLE TRUST BALANCE SHEI ET AS AT 5tli APRJL 2023 Notes 2Q23 2022 FIXEI D ASSETS Investhients 2,331,790 2,529,758 ctJRRfL Nf ASSETS Debtoi's Casli at Battk 9,033 21,480 30,513 8,838 4.5,326 54,164 CURRENT LtABILITIES Creditoiy - falling due witliin one year io 30,521) 90,338 NET CURREI NT (LIABILITIES)IASSETS (8 36,174 NET AS.8E'rs 2,331.782 2,493,584 FUNDS 12 Restricted Uni'esti'i¢ted 283,813 2,047,969 2,33L,782 297,049 2,196,535 2,493,584 AppiDved by the TNstees and autlioi'i.%ed for issue on..è S Igand sigiied on dieii. behalf by., TrLlStee Pa9e 9
I'HE WORSHJPFUL COMPANY ofi PLAISTEI RERS CHARJTABLL TRUSI, NOTES TO THE FINANCIAL STATEME4 NTS FOR THEI yfi AR £1 NDED 5th APRtL 2023 ACCOUNTING POLICIES {a¥) Basis of Pi'epoI'atioD T11 finaiieial statei)Knts ale prepared on a going conc¢i'n basis, uiider the l)istorical cost conveJitlDn, as modified by tl)e IEvttIiti0tTr of itivestillents being measiiied at fair value thi'ougli incojne and cxpeIiditurc within the Staten)jE of Fiiwicial ActivÉties. The fJi)aucial 8tateinettts have been pi'epared in aceordance willi the FinanciAI Repoilii)g Staiidard applicable in tlie UK and Republic of li'eland (FRS 102). The Chai'ity is a public benefit entity foi" tlie piijposes of FRS 102 and tlici'efoiE the Cliaiity also pi'epai'ed its financial statements iii accoi'dance witli the Statenient of Recoinmeiided PracLice dpplEcable to chaLities pitpai'ing t]1r aecounts in ace{)rdlCC Hrytli the FittanciAI Repoilin8 Standai'd applicable in the UK and Republic of IIEland (Tl]e FRS 102 Cliatities SORP) tl)e Cliai'ities ACL 2011. The financial slateiiients are piepai'ed in slerling, wl]icl) i8 the funetioiial CUiLfiiCy of die charity. Monetaiy ainoullts in ihese flltsncial stateiaents ai¢ rounded to tILe neai'est pound. Tlie prii)Gipal accounting policies adopted in tlie pi'epai'ation of tl)e fit]an¢ial stateents are set out below. (b) Fllnd Sti'uctui'e Umesli'icted incoiiie funds are fiEnds that are available foi. use at the t£ustees' discretioii iii fUither1cC of the objcetivcs af the cliarity. Resb'icted funds ale those donated foi. use in pai'li¢ulai' aiEa oi. foi. specific ijuiposes, the use of wliich 15 resti"icted to tlial arta oi. purpose. Designated fthids are umEstricted funds Set aside at the discretion of tsustees for specific purposes. Truriher details of each fvnd al'e disclosed in tLOte 12. {¢) Incomo All incoii)e is recowiised in tlie Statement of Fii)ancial Activities {SOFA) wlicn tlie cotsdiiiolls foi- receipt Iiavc bEen niet and i'eceipt is pi'obable. Whei"e a elaiiii foi. iipaytlleiit of iii¢oIiie tax has been oi. witt be n)ade, suel) iiicoine is grossed lip for the tax recoverable. The followitig accounting i?oli¢ies ale applied to different categoi'ies of in¢ome'. Gi'ants and Dollatloms Reeelvable 'ants aiid DoiiatLOIIS aiE I'ecogftised in tlie SOFA when conditions for mipt l)ave been cgiytplicd with. Investmciit llleome Interest i'eceivable on deposit and secui'ities is accounted for as it a¢crues. Divideiid incoille i'eceivable on seciuities is accounted for wlien iEceived by the Envesthiient tiialge1'. {d) Ixpendlture Liabilities al'e i'ecognised as expeiiditure as soon as tliei'e is a legal oi. constmctive obligation comniitting tlie cliai'ity to Ilie expenditui'e. All expendituir is accoui)ted for on an aecruals basts and lias been classified linder Ikeadings tliat aggiegate all costs I'elated to tlie category. Tlie following accouiiting policies arc applied to Uie diffei'ent categoiies of expenditure.. Cost5 of Ralsfing Funds Tl?e costs of raising funds consist of investinent msnagemIt and certain l¢gMI fees. Cliarltable Activltles Donations payable are reLognised wlien tl)ey aLE approved by the Tiustees and the recipient of tlie 'ant has been iiiforined of tile aniount to be paid. Page 10
THE WORSHIPFUL COMPANY ofi l)LAISTEREI RS CHA]UTABLE TRUST NOTEI S TO THE FINANcfAL STATEMENTS FOR THE y£1 AR ENDED 5tlI APIUL 2023 ACCOUNTING POLICIES {Coiitiiiued) Govei'naiice Costs Govei'nai)ce costs conipi'ise all costs ittyolviiig tl)e public accountability of tlie cliarity atid its conipliance cgulatiott and good PLaetice. These costs in¢lude casts related to slaMtoi'y audit fees ttsgether with support costs. (e) Ftxed Assets Imvestmeiils aEe stated at inaiket value at the Balance Sheet dale. Tlie SOFA includes the net gains 2nd losses ott revaluation and disposals thi'ougbout the yeai.. lfj Re3lised aiid Uiii'ealised Galns glnd Losses All gaii)s and losses al'e lakell to the SOFA as tliey arise. Realised gaiiia and losses on investinenls art calculated as tlie diffei'ence between $ale8 pi'oceeds aiid opejiiiig Iket value {pui'cliase date if lat.). Unrealised gains and losses al'e calcultted as the differcnce betweell the in8iet value at the yeai eiid 2nd opening market valiie (ot pw'cliase date if later), (g) Gaing Coneern Tlie TIgleeS l)ave a8sessed whether the ue of Ihc going coiicei.ji basis is appropi'i2te and Iiave eonsidered possible event8 01 condi¢iiJns that iniglit ct significant doubt oli the ability of the charity to conliiiuc as a going concci'n. The twstees h&ve inade this asses81nent foi. a pei'iod of at least one year froin the date of appi'oval of tlie f]nanGial.%tattincnts. Tii pailicul. tlie ttwtees liave Collsidd'ed the chai'ily's foiEca8ts and pi'ojectioiis and liav¥ lalcen account of piesslllts on donation and investment income, Aftu. Inaking enquiiies the tiustees have Concluded tIt th£Lt is a reasonable expectation tltst tlie ¢lurity lias adequate irsow'ces to continue in operational existence foi. dic fni'cse¢able future. The Cliarity tlieEefai'e continues lo adopt tlie goÉng eoncem basis Ln Pl'tpai'ing its finallcial stateihents. (h) f4iiiaaiLi21 In$truillents Tli¢ diarity lias eltoted to apply tlie provisions of Sectioii I I 'Basi¢ Firkaiieial Instnllnents of FRS 102 to all of tts fjnancial iiistsuinents. Financial InstlentS al'e recognised in tlie ol)ai'ily's bal&iice sheet wlieii the cliai'ity bEcoine% pai'ty to tlie coi)tractu&l provisions of the instiRiti7t. Finaijcial asset8 alld liabilitle5 al'e offset, witli tlie net atnoiillts pi"eseiited in tl)e financial statei]]ents, wlien theiE is a legally enfoi'ceable l'ight to set off the cognised amoiints Ikiid there an intentÉon to settle oi) t net basis or to realise the asset and settlc the liability siinultaileously. With the excepttons of prepaymEllts ld def6fL"ed income all oth¢i' debtoi. alld ci'Editor balaiKes ale con8idei.ed to be basic financial instrumeiit& under FRS 102. See notes 9 aiid 10 foT the debtotE and Creditors notes. (i) Casli and Ca5b EquivAlents Casli ai)d casli equivalents Illtlude casli in hoiid, depo8lts lield at call with banks, other shoit-Lem liquid iiivestmeiits witb o¥i£inal ntUritieS of tlutc iknontlis or less. U) l<ey Bstiinates and Judgemeijts In pi'epai'inE fiiiancial st&tenieiJt% it is iieeessary to niake cei'taiii jiidEements, estiimates and a55UlllPtion5 that affect tht amout)ts recogiiised in the fJnan¢ial slateinents. In the view of tlie Ti'ustees in applyiiig the accountiiig policies adopted, no judgements were i'equired that hav£ a signifscant elfe¢t on the aTnollnts 'eCOlis¢d in the financial statancrtts iior do at]y e8tunates oi, assiiinptiolls made cairy a significant iisk of terIal adjustsnettt in tl)e iiext fin&iicial year. Page11
THE WORSHIPFUL COMPANY ofi PLAISTEI RERS CHARITABLL TRUST
NOTES TO THE FINIINCIAL STATEI MENTS
FOR THE YLI AR ENDLI D 5th APRtL 2023
DOL¥ATIONS AND LEGACIES
2023
2022
Appeals and donations
Donatioii fiY)tii Worshipfvl Compaiiy of PlaisteiErs
47,865
45,481
50,000
95,481
47,865
JNVESI'MEE4T INCOMK
2023
2022
l]Lcoine fJ'oJn listed iove5thieiits
Interest on ca811 deposits
58,596
136
51,466
51,469
CHARITABLK ACTLVITIEI S
2023
2022
GrdM18 payable- oth¢i' [Ce note 5)
Ti'aining awai'ds adillinisti?tion
Suppoj't eosts (See note 6)
59,788
145,416
429
4,804
150,649
5,238
65,026
GRANTMAI
'rHE WORSHIPFUL COTrIPANV OF PLAISTEREI RS CHARITABLE TRUST NOTES TO THE FJNAP4ClAL s'fATEI MENTS FOR THE YEAR INDEI D 5th APRIL 2013 SUPPORT COSTS 2023 2022 Bal CliarEeS Accounl4n¢y Fees Govci'nance- independent examlnei s fee (cun"ei)tyear) 278 960 4,000 5,238 292 960 3,552 4,804 TRUSTEI ESI REMUNEIRATION AND EXPII NSES No TIStee8 irceived atsy remuneration du¥siig the yeai. (2022.. £0) INVLSTMENTS Movement fL¥ed asset li8ted investllients 2023 2022 Mai'ket Value Bi"ouglit Forwa¥d Additions at cost Le%s ni81)ns&l procecd8 Net (los$es)Igains on inve$tiiict]ts Mai'ket Vallle Carrled Voyward 2,529,758 42,131 (41,399) 1198,700 2J31,790 2,389,542 96,374 150,146) 93,988 2,529,758 Hi8101"ieal Cost of Investmejils a& at 5th April 2,160 917 2,l57,471 Geograplii¢yl AnAIysi5 United Kingdom investhients Ovei"b¢ab investinetits 2,331,791J 2,529,758 2,331,790 2,529,758 DEBTORS 2023 2022 PIEpayiiients and accrlled income 9,033 9,033 8,838 8,838 Page13
'ri.IL WORSHIPIIUL COMPANY ofi PLAISTF.R£RS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEI MENTS FOR THE YEAR NDED 5th APRIL 2023 10 CREDITORS: Amounts falling due witliill one year 2023 2022 Other citditors AcciTr]als and dtfeiyed ineDIII¢ Gixllt con)n)itin¢nts 492 4.946 25,1>83 30,521 669 4,669 85,000 90,338 11 RELATED PARTIES Related pxrty ts'an5a¢tions During the yeai- tl)e Cliarity received £nil (2022.. £50,000) froiii the Worshipful Conipany of PSai5teiris. Tlie following Txvstees ai'¢ all nieillbcLS of tilt Livery Court.. Peier Bakei., MaigaiEt Coates, Bill Mabony and Adaiii Edw.d. No TIMstee5 received any reniullei'&tEon during the year orwere reiinbui3ed for tlieir ¢xpeE]scs (2022- £nil) No Th]stee oi. otlier peiyon i'elattd to tlie Chai'tty had any personal inteLest in aiiy contract or ti'uitsaction ei)tered into by tEie Charity dlli'ing Ilie yeai. (2022.. iiil) CoiEtI'olling entity Tlie Charity 18 eontrolled by Ili¢ TIsteeS. 12 MOVEI MEI NT IN FUIYDS Brvught fui'wai'd 2022 Cainsl {losses) 2023 Carried foi'iyard 2023 Income 2023 I xpenditure Ti'#nsfei's 2023 2023 Deslgnated fuiids 500tt1 Ai)llsversary 11 Iluillber H M(Itt 50,000 26,000 58,000 134,000 (6,000) (15,0001 (4,750) (25,750) 6,000 15,000 4,750 25,750 50,000 26,000 58,000 134,000 Uiii'estrReted fuiids UnrestL'iCted iiicome fund 2,062,535 97,475 (22,0691 (176,342) {47,630) 1.913,969 Restricted fuiids Mancheslei. aiid Salfoi'd aiid Restricted I'raii)ing fttnd Spurltng But$Y fund 247,049 50,000 9,122 113,880) 8,000 (22,358) 13,880 8,000 233,813 50,(K)O Yot 2,493,584 10fj597 {69,699 (198,700) 2,33J,782 Page 14
THK WORSHIPFUL C.OMPANY OF PLAIS'I'ERERS CHARITABLE TRUST flOTES'fo THE fiINANCIAL STATEI MEN'I'S FOR THE YEAII FL¥DED 5th APRIL 2023 12 MOVEI MENT IN FUNDS (CO11lled) Brought foi'ivard 2021 Gaillsl (los%es) 2022 Carl'led forivard 2022 Income 2022 xp¢ndlture 2022 Ti'ansfei 2022 Designated fllnd5 500th A[1Ve1alY H Huinber 14 Mott Platinum Jubilee Fund 50,000 26,000 58,000 (6.000) 6,000 50,000 26,000 58,000 (4,750) 100,000 (110,750) 4,750 i(x),000 I 10,750 134,000 134,000 UnrestiYctcd funds Unrestricted inconie fill 1,977,434 138,992 (43,856) 79,503 {89,538) 2,062,535 Restrlcted fund$ Maii¢11ester and Salfoi'd and Resti'icted Traiiiing fund Spurliiig BSlY fttnd I'otal 247,049 50,000 2,408,483 7,958 11,231) 14,485 {21,212) 247,049 50,000 146,950 (155,837) 93,9¥8 2,493,584 500111 Aiiiiiiiéi'smry Eslablislied lo con]Lnemorate tlie 500tli Ann1veiE'Y of tlie .niIng of tlie fJiEt Cl]al't lo the Woi'sliipful Co2Dpany of Plaisteirrs in 1501. Tl)e ineojkne froin this fuiid CiUTently suppoi'ts a chorista. at St Paul's Cathedral. H HuiiibÉi' Establisli¢d ii) mcinory of Past Mast. He1Y Hulnber. The inooine originally suppoi'led a bursary foi. a post Rl'aduF4tc student at Llie Guildhall Scliool of Mugic and Draii)a. Tn recent years it l)as glliii)arted the woi.k of die VC19 Foui)dation. IIMoll Est&blish¢d irt mcmory of Past Mast. Hen]y Mott. The iiicome 8uppoi't8 a chorist. at Petei'boi'ollgh Catl)edi'al. Plutiiiiijji Jitbileefiiiid Dui"ing tl)e prioi. yeai., tl)e Tiustees tablished a Platinum Jiibil¢¢ Fund to niai'k Tlie Queen's Platinum Jubilee aiid agi'eed to provide a of £50,000 to be allocated as oiie-uff lo f(¥ur of tlie Livel'y Company's Militsry Affiliates and Pctei'boi'ougl) Cathedi'*LI, all of whoin shared significant annivLI%1eS witli the LIvY Coinpany and the Cl)ai'ity dui'ing 2021122. At the January ineeting of the Court of As%istants, the Lively Coii)pany iEsolved to match this allocation and inade a 8ift to tlie c}rity to the value of appi'oximat¢ly £50,000, theieby eslablisliing a total fund value of£1 00,000. This was fully spent in tlie 2022 yeai.. Tlie Maiiclté&lÉr NttdSulfoi,d niiirf Establislied iii 2002 by a gift of 0,00 Iw¥tli at] additio11 £1,000 in 2004) froiii Iht tAte¢S in wiiidiiig up of tlie Manohe5tei', Salfoi'd and Disti'ict Building Trades En]ployers' Ass00iation. The fund is foi. the puiyose ofsuppoitiiig education and trainthng tlie industry. Tlie Tiustees resolved on I l June 2015 (o ainalgan)ate tlie two fuiid8, hencefoi.th to be ki)owry 98 'The Manchester and Salfoi'd ai)d rcsti'ieled Ti2ininB Futid,. Restricled Ti'aliilNg Fiiiid Establislied in 2007 with a gifi of £IOO,000 a generous benefactor, tlie airll of the fund is lo support and niaii)tsin the quality at]d dIVeItY of pIc1stIng and thyiiig skills in Lhe UK. With ag'cement of the donor this will b¢ &chieved by way of burs3rie8. Spiii'liiig BuisNry Fiiiid Eslablisijed during ilie 2021 yeai. by B gelleious donation of £50,000 iiiade by Liveryinan Andrew Spiii'ling in regi)ILl0 of the 200tli in1Ve1ry {1817- 20171 of sojiie twelve Spurlit)g ft)ittily ineinbei3 of tbe Liyeryi of wlioin seven weie forniei. Ma5tei's of tlie Coinpany. Tl)e iiicoiue fi'oni thi8 doiiatioii is used lo suppoyt a bui'saLy foi. the educatioii and u%iiiRI)g of a plastei'ei. iii herita£e pla8teriiig slcills. Pao&15