THEWORSHIPFULCOMPANY OF PLAISTERERS CHARITABLE TRUST IREGISTERED CHARITY NUMBER.. 281035] 'Yhe Plai5terers' Charity" REPORT AND FINANCIALSTATEMENTS for the year ended 5, April 2025
THE WORSHIPFUL COMPANY OF PLAISTERERS CHARITABLE TRUST CONTENTS Page Trustees, Annual Report Report of the Independent Examiner Statement of Financial Activities Balance Sheet Notes to the Financial Statements 10-15
The Worshipful Company of Plaisterers Charitable Trust Reference and Adminlstrative Details Charlty Name: The Wor5hlpful Company of Plaisterers Charitable Trust Charity Registratlon Number.. 281035 Principal Offlce: Plaisterers, Hall l London Wall LONDON EC2Y 5JU Trustees: Mr P R A Baker, Past M3Ster & chairman (Retired 16 july 20241 Mrs M A Coates, Past Master & Chairman IAppointed 16 July 20241 Mr T A W Edwards, Liveryman (Re-appointed 16 July 20241 Mr S A Gilbert, Deputy Master (Re-appointed 16 July 20241 Colonel (Rtdl G S M Manger, OBE, Clerk (Re-appointed 16 July 20241 Mr A K Mitchell, Deputy Master (Re-appointed 16 july 20241 Mr S P Steinbock, Liveryman (Re-appointed 16 July 20241 Mr J G Minett, Master IAppointed 16 july 20241 Solicltor: William Sturges LLP Burwood House 14116 Caxton Street LONDON SWIH OQY Banker: National Westminster Bank PIC St. Paul's Branch Juxton House 98 St. Paul's Churchyard LONDON EC4M 8BU Accountant.. Moore Kingston Smith LLP Devonshlre House 60 Goswell Road LONDON ECIM 7AD Investment Manager Rathbone Investment Management Ltd (to July 20241 8 Finsbury Circus, LONDON, EC2M 7AZ Waverton Investment Management Ifrom July 2024 16 Babmaes Street, London SWIY 6AH Page.. I
The Worshipful Company of Plaisterers Charitable Trust Trustees, Report PRINCIPAL ACTIVITY The Charitable Trust supports individuals and charities 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. Its income derives from The Worshipful Company of Plaisterers and from Freemen and Liverymen of the Company, together with investments and other donations, gifts and legacies. Bursaries, grants and other awards of charitable expenditure are decided upon by the Trustees, who may consult with the Company's Court of Assistants or other interested parties, where appropriate. GRANTS POLICY The Trustees consider.. lil Grants to members, widows and their dependents in need. lill Educational Grants in furtherance of training and education in plasterinE. liiil Educational Grants generally, including Cathedral Choir School Bursaries, and other music related bursaries. livl General Charitable Grants with a focus primarily on.. lal Charities and worthy causes with a plastering emphasis,. Ibl City of London and Greater London charitles with a "people. focus towards the disabled, disadvantaged and needv,. and Icl Charities connected with HM Armed Forces andlor music education and training. GOVERNING DOCUMENT The Fund is governed by a Trust Deed dated I" July 1980. The Trust was established for charitable purposes. Any capital or income not required for the charitable purposes of the Trust can be invested by the TrLJStees. The Financial Statements and Accounts prepared annually comply with the terms of the Trust Deed. TRUSTEES In accordance with the Trust Deed, the Custodian Trustee is the Worshipful Company of Plaisterers (the Liverv Company) and seven Managing Trustees who are.. The Master, Deputy Master and Clerk for the time being lex-officiol, together with two Past Masters and two Liverymen who are appointed by the Court of Assistants of the Worshipful Company of Plaisterers annually at the July Audit Court Meeting. The Trustees who act during the financial year, will normally reflect the changes made from the date of Inst2113tion and robing of the new Master, Deputy Master and Clerk lif applicable), at the July Audit Court Meeting, i.e. partway through the Charity's financial reporting year, together with the appointment of anv new Past Master or Liveryman Trustee. The re-appointment of and changes to the Trustees during the current financial year were approved at the Company's Court of Assistants Meeting held on 16 July 2024. Page 2
The Worshipful Company of Plaisterers Charitable Trust Trustees, Report The Managing Trustees who acted during the current financial reporting year were as follows.. - Mr P R A Baker, Past Master & Chairman (Retired 16 July 20241 Mrs M A Coates, Past Master & Chairman IAppointed 16 July 20241 Mr T A W Edwards, Liveryman (Re-appointed 16 July 20241 Mr S A Gilbert, Deputy Master (Re-appointed 16 July 20241 Colonel (Rtdl G S M Manger, OBE, Clerk (Re-appointed 16 July 20241 Mr A K Mitchell, Deputy Master (Re-appointed 16 july 20241 Mr S P Steinbock, Liveryman (Re-appointed 16 July 20241 Mr l G Minett, Master (Appointed 16 July 20241 RESTRICTED FUNDS The Manchester and Salford Fund Established in 2002 by a Gift of £50,000 (with an additional £1,000 in 20041 from the Trustees on the winding up of the Manchester, Salford and District Building Trades Employers, Association. The fund is designated to support education and training the plastering industry. Restricted Training Fund Established in 2007 with a gift of £IOO,000 from a generous Liveryman benefactor. The aim of the Fund is to support and maintain the quality and diversity of plastering and dry lining skills in the UK. With the agreement of the donor Inow deceased) this will be achieved by way of bursaries, grants or other awards. With the agreement of the donors of each of the above two Funds, the Trustees resolved to invest the capital of each Fund to create income to achieve the Funds, individual aims. It was also agreed by the donors of each Fund to apply the Charitable Trust's Reserves Policy, described on page S, to the income generated from the investments. th The Trustees resolved on 11 June 2015 to amalgamate the two funds, henceforth to be known as The Manchester & Salford and Restricted Training Fund,. The Spurllng Bursary Established in 2018 by a generous donation of £SO,000 made by Llveryman Andrew Spurling Inow deceased) in recognition of the 200 Anniversary11817- 20171 of some twelve Spurling family members of the Livery Company, of whom seven were former Masters of the Company. The income from this donation is currently being used to support a bursary for the furtherance of education and training in heritage plastering skills via The King's Foundation (formerly The Prince's Foundation). Page 3
The Worshipful Company of Plaisterers Charitable Trust Trustees, Report DESIGNATED FUNDS 500 Annlversary Fund Established to commemorate the 500, Anniversary of the Eranting of the first Royal Charter by Kin8 Henry Vll to The Worshipful Company of Plaisterers in 1501. The income from this fund currently SLJpports a chorister at St Paul's Cathedral. Harry Humber Fund Established in memory of Past Master land sometime Clerk) Harry Humber. Originally the income was used to support a bursary for a post graduate student at the Guildhall School of Music and Drama but may be used for any music related educational need. During the current financial year, this Fund has been used to provide a scholarship bursary for 3 student at the Loughborough Schools Foundation, of which the late Past Master Harry Humber was an alumnus. Henry Mott Fund Established in memory of Past Master land sometime Clerk) Henry Mott. The income supports a chorister at Peterborough Cathedral. Transfers from the Unrestricted General Funds of the Charity are made to the Designated Funds, when necessary, to ensure that the Trust meets the ongoing objectives of these three Funds. The Platinum Jubllee Fund During the financial year 2021122, the Trustees considered a proposal to establish a Platinum jubilee Fund to mark the Platinum Jubilee of the late Queen Elizabeth 11 in June 2022 and agreed to provide a sum of £50,000 to be allocated as one-off grants to four of the Livery Company's Military Affiliates and Peterborough Cathedral, all five of whom shared significant annivers3ries of association with the Livery Company and the Charity during 2021/22. At the january 2022 meeting of the Court of Assistants, the Livery Company resolved to match this allocation and made a gift of shares to the Charity to the value of approximately £50,000, which were subsequently encashed, thereby establishing a total fund value of £lOO,000. The charitable organisations selected by the Trustees and the level of one-off grants agreed to be paid were as follows.. Royal Marines Association IThe Gordon Messenger Centrel SRR Association (The Plaisterers, Educational Fund) HMS Dragon la Type 45 Destroyer) 282 (East Haml Squadron, Royal Air Force Cadets Peterborough Cathedral £45,000 £15,000 £5,000 £15,000 £20,000 The only grant paid during the financial year 2021122 was the £15,000 grant to the SRR Association. The £45,000 grant to the Royal Marines Association was paid during the following financial year 2022123 and the remaininE Erants were paid during the financial years 2022 to 2024, except the grant to HMS Dragon. That is likely to be paid during the financial year 2025126. Page 4
INVESTMENT INCOME The Trustees look for a 'total return, of income combininE capital gains and investment income. The performance of the funds showed a small surplus in the net movement of funds of £47,706 in this financial year12023-24.' surplus of £166,116). This brings the total funds in the Investment Portfolio to just over £2.5 million12023-24.' just under £2.5 million). Within these figures, there are net realised and unrealised losses on investments of £3,848 during thi5 financial year against gains of £138,203 in the previous financial year 2023124. PUBLIC BENEFIT The Trustees have had regard to, and are fully aware of, the guidance on Public Benefit issued by the Charities Commission and have taken notice of this guidance in all relevant discussions on distributions of bursaries, grants and other awards. During the current financial year £83,62512023-24.. £79,300) was distributed in charitable attivities to various groups of recipients, as follows.. 23% in the furtherance of education and training in plastering 36% in the education of Choristers and the provision of financial support for music education initiatives to schools, including those in impoverished areas of the City of London and Greèter London 18% to HM Armed Forces benevolent funds 6% Chaplains, Grace, to a charity nominated by the incumbent Honorary Chaplain 17% to other registered charities RESERVES POLICY The Trust is a grant-making trust, which derives its income from donations, gifts, legacies and investments. In recent years, the Trustees have significantly built up the charitable foundation to just over £2.5 million by partially limiting distributions, moving investments into equities and receiving large equity transfers. Whilst the Trustee5 wish to continue to increase the capital reserves, at the same time they also wish to increase charitable grants, subject to an overall increase in the available incoming resources. RISK ASSESSMENT As described in the foregoing section the Trustees have adopted a reserves policy which is designed to increase the assets of the charity over time to ensure its long-term future viability as a grant-making trust. They have reviewed the risks that could possibly be faced by the charity and are satlsfied that by taking a reasonably conservative view, they are mitigating the risks to which the charity may be exposed. FINANCIAL YEAR END ITEM OF SIGNIFICANCE Following a review of the historical investment performance of Rathbone Investment Management Limited I'Rathbone'l the Trustees, together with the Custodian Trustee (The Worshipful Company of Plaisterers'l and Plaisterers, Hall Limited, identified a potential need to replace the current investment manager. Having shortlisted and interviewed three appropriate potential investment managers (including Rathbonel from a much longer list of potential investment mangers the Trustees resolved at their meeting held on the 4, lune 2023 to appoint Waverton Investment Management Limited I'waverton'l to replace Rathbone as investment manager for the Charity (the other two entities subsequently similarly resolvedl, by employing one investment manager to oversee all three entities investment portfolios on advantageous terms. Page 5
FINANCIAL YEAR END ITEM OF SIGNIFICANCE (Continuedl The transfer of the Charity's investment portfolio from Rathbone to Waverton took place on the 22 july 2024. During 2024125 Waverton merged with London & Capital IL&CI. In March 2025 L&C and Waverton announced the company would be consolidating its brands under a new name WIM. There has been no change to the Charities and Specialist Investor team that look after WCPCT. STATEMENT OF TRUSTEES RESPONSIBILITIES The Charity's Trustees are responsible for preparing the Annual Report and Financial Statements in accordance with applicable law and United Kingdom Accounting standards Iunited Kingdom generallv accepted accounting practice). Charity law requires the Trustees to prepare financial statement for each financial year which give a true and fair view of the state of the charity and the incoming resources and application of those resources of the charity for that period. In preparing those financial statements, the trustees are required to.. al select suitable accounting policies 3nd apply them consistently,. bl observe the methods and principles in the Charities SORP,. cl make judgments and estimates that are reasonable and prudent,. dl state whether applicable accounting standards and statement5 of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements- el prepare the financial statements on the going concern basis unless It is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping proper 3ccounting records that disclose with reasonable accuracy at any time the financial position of the Charity, and which enable them to ensLJre that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention of fraud and other irregularities. Approved by the Trustees and signed on their behalf by: Margaret A Coate5 Trustee Date: 21L Page 6
INDbPEINDEINT EXAMINER'S BEIPOR'r THE WORSHIPFUL COMPANY or PLAISTEI RS CHARITABLE TRUST FOR I'HE YEI AR ENDED 5th APRIL 2025 l i'epoit to the Ti'ustees on my examinatioi) of the accoiiiits of the Worshipful Company of Plaistcrers Cliai"itable Trust (the I'rust) for the yeai. ended 5 Api'il 2025. Re5ponsil)ilities and basis of report As the cliarity tlllstees of ihe Tiii%t you are rcspoiisible for tlie prepatation of tlie accounts in accoi'dance with the requii'emenls of the Charities Act 2011 {'tl)e A¢t'). I repoil in respect of my exan)ination of tlie Trust's accounts can'ied oiit ulldei. section 145 of the 2011 Act and in caiyyiiig out niy examination I have followed all the applicable Directions given by the Cliarity Commission under seclion 14515)(b) of th¢ Act. Independent examiner's statement I have conipleted my exaniination. I confji'm that no matei'ial niatters have come to Iny attention in ¢onnectson with the exainination giving ine cause to believe that iii any matei'ial i'espect.. accolI]ng records were not kept in respect of the Trnst as required by section 130 of the Aet; or tile accounts do not accord witli those i'ecords. or the accounts do not con)ply witli tlie applicabl¢ requii"emenls concerning tlie foLin and content of accounts sct out in the Charitics (Accounts and Reports) Regulations 2008 othei" tlian any iEquirement that the accounts give a'iNc and fair view, which ss iiot a mattcr consideiEd a% part of an independent exaniination I have no concerns and have corne across no other matters in connection with the examination to whicl) attention should be drawn in this repoi't in order to enable a propel. undei'standing of the accounts to be reached. o(Te '1 b IEI UIP Adam Fullertoii fiCA DCIIA, On helialf of Moore Kingston Smith LLP Chai"lered Accauntanls 6t1) Floor 9 Appold Street Loiidon EC2A 2AP Date.. 23 July 2025 Page 7
rHE WORsIifpFUL COMPANY OF PLAISTEI RERS CIIARITABLE TRUST STATEMFNT OF FINANCIAI. ACTIVTTICI S FOR TIIE YF.AR EINDED 5th APKIL 2025 Unresti'icted Restricted Total f4unds Uni'esti'ieted Restricted Total Funds Fuiids Funds 2025 Funds unds 2024 Notes Income and endoivments Donations and legacies Investnicnt inLume 54.910 73,992 128,902 54,910 88,217 143,127 49,055 57,733 106,788 49,055 68,571 117,626 14,225 14,225 TO'I'AL INCOMF. 10,838 10,838 EXPF.NDITURE Costs of raising funds InvestTnent Management Costs Chat'itable a¢tivitic8 'roTAL EI XPENDITURE 1,084 72,714 73,798 209 17,566 17,775 1,293 90,280 91,573 4,014 69,739 73,753 772 15,188 15,960 4,786 84,927 89,713 NET OPEI RATING INCOMEIllLXPENDITURE) 55,104 (3,550) 51,554 33,035 {5,122) 27,913 OI'IIER REI COC.NISED GAINSI(LOSSLI S) Gainl{Loss) on Investnicnts (3,028 820 3,848) 116,026 22,177 138,203 NET INCOMEI(EI XPENDITURE) 52,076 (4,370) 47,706 149,061 17,055 166,116 Gross transfers between furtds {17,775) 17,775 {15,960) 15,960 NET MOVEMENT fiUNDS 34,301 13,405 47,706 133,101 33,015 166.116 RECONCtLIATION OF FUNDS Total funds brouglit fi)rwai'd 12 2,181,070 316,828 2,497,898 2,047,969 283,813 2,331,782 BALANCES CARRIED fi ORWARD 2,215,371 330,233 2,545,604 2,181,070 316,828 2,497,898 All ainounts r¢late to contEiiuing activities. All recogt]is¢d gains and losses are included ill tlie Stateinent of Finat)cial Activitie$. Page 8
THE WORSHIPFUL COMPANY OF PLAISTERERS CHARITABLE TRUST BALANCE SFIEEI T AS AT 5th APRIL 2025 Notes 2025 2024 FIXED ASSEITS Investinents 2,482,721 2,498.634 CURRENT ASSEI TS Debtors Cash at Bank 24,302 45,928 70,230 9,651 12,716 22,367 CURRENT LIABILITIES Creditors - falling due within one year io (7,347 {23,103) NEI, CURRENT {LIABILITICI S)IASSETS 62,883 (736 NKT ASSETS 2.545.604 2.497.898 FUNDS 12 Restrleted Uni'estrieted 330,233 2,215,371 2,545,604 316,828 2,181,070 2,497,898 Approved by tlie fi'ustees and autl)orised for issue on.. 22 July 2025 and signed on their belialf by.. Trust¢¢ Pag8 9
TIIE WORSHipfi UL COMPANY Ob PLAIS'I'LREIIS CHAIIITABLE'I'RUSI. NOTF.S TO THE FINANCIAL STATEMENTS riOR THE YEI AR EINDEID Sth APRIL 202S ACCOUNTING POLICIES lal Rasts of Preparation Tliese fJiiat]cial siatejncnts air prepared on a going coiicern basis, under t]ie historical eost convention, as Inodified by the revaluation of investments being measured at fair value tlii'oiigl) income and expenditure within tl)c Statcment of FirnCial Activities. The fjnancial stateinents have been prcparcd in accordance with the Financial Repoi'ting Standard applicable in Ihe UK and Republic of li"eland {FRS 1021. The Charily 15 a public benefit entity fur the pui'poses of FRS 102 and thereforc tjie Charity also pirpaird its fSllallcial statcnients iii accordancc with tlie Statemcnt of Rccammcndcd Practice applicable tu cliai'ities prepai'ing iheir accounts in accoi"dance with t]ie Fi[nCial Reportiiig Standard applicable in the UK and Republic of Irela[ {Tlie FRS 102 Cliai'ities SORP) and tlic Chai'ities Act 2011. Tlie financial statements are prepared in sterling, which is tlie functional currency of the cliarity. Monetary amounts in tliese fii)ancial statenients are rounded to the neaTest pound. The pi'incipal accounting policies adopted in the prepai?tion of the financial stateinents are set out below. (b) fiuiid Sti-uctllre U.¢Stl"iCted inLon)e funds are funds that are available foi. use at the ti'ustees, discretion in rtherance of the objectives of the c1.1(y. Resti'icted funds air those donated for use particular area or foi. specific purposes, tlie use of wliich is I'esti'icted to tliat ai'ea or purpose. Designated fiinds are uMEstricled funds set aside at tlie discretion of trllstees for specifIc pui'poses. Furtl)er details of eacli fLd are disclosed in note 12. {c) Income All iticoii)c is r¢cogt]ised in tlie Statement of Financial Aeliviti¢s (SOFA) wlien tlie conditions for r¢c¢ipt hav¢ been Inet and i'eceipt 15 probable. Where ft claini for i'epayjnent of incoine tax lias been or will be inade, sucl) ineomc 1% gi'os8cd up foi. tlie tax reeoverable. Tlie following accounting policies are applied to diffeJEnt categoj-ies of i21coiI)e'. Gi'ants and Donatlnljs Receivable Gi'ants and Doiiatioiis ai"e recogiiised in the SOFA wlieii coi)ditions foi. receipt have been complied with. liivestinent Iiicomc Interesl iEceivable on deposlt and securities is accounted for as it accrues. Dividend incoine receivable on securities is accounted for when received by the investment Inanagei.. Id) Expenditui'e l.iabilities ale iEcognised as expendire as sooti as there is a legal oi. constructive obligatioi) coiiiiiiitling the chai'ity to the expeiiditui'e. All expenditure 15 accoullted foi. oil an accruals basis and has beeii classified under headings that aggregate all costs related to tli¢ category. Tlie following accounting policies al'e applied to tlie different categoiies of expenditure.. Costs of Raisiiig Fuiids Tlie costs ofi'aising fviids consist of iiivesknnent Inanageinent and certain legal fees. Chai'itable Activities Doiiations payable al'e recognised when they alE approved by the Tlltees and the recipient of tlie grant has been infornicd of tlic aTnount to be paÉd. Pag8 10
THE WORSHIPFUL COMPANY or PLAISTERLIIS CIIARITABLE TRUST NOTEI S TO THF. VINANCIAL STATEMENTS r4OR THE YEAR ENDED 5th APRIL 2025 ACCOUNTING POLICIES (Continlled) Goveriiance Costs Govei'nance costs cojnprise 811 costs involving the public accountability of tlie charity and its ¢oinplÈanee wit]1 regulatloll and good pi'actice. Tllcse costs include costs i'elated to statutory audit fccs together with support costs. (e) Investments Inveslments arc 8tatcd at ntsrket value at the Balance Sheet date. The SOFA includes the Det gains and losses on revaluation and disposals tIOU81)0ut the year. (D Realised and Unreali$¢d Gain5 and Losses All gains and losses al'e taken to t]ie SOFA as diey arise. Realised gains and losses on investments are calculated as tlic diffei'ence between sales proceeds and opei)ing market value (puichase date if later). Uiirealised gains and losses al'e calculated as the difference between the Inarket value at the year end and opening market valuc {oi' purchase date if latei')- (g) Going Coiicern The'frustees have assessed wl)ether the use of the going concern basis is appropriate and have considered possible events oi. conditions Ilial migl)t ¢ast sigllificaiit duubi on tl)e ability of tile cliarity to continue as a going conc.. Tlie trustees have Inade this assessn)ent for a period of at least one year frojn tile date of approval of the financial statements. In pai'liclllai. tlie ti'ustees liave considei'ed tlie ¢l)arity's forecasts and projcetions alid Iiave taken account of pi'essures oil donation and investinent income. After making enquiries the tiustees have concluded that tliere is a reasonable cxpectation that the cliarity has adeqttate resoiirces to continue in opei'ational existeiice foi the foresecablc fumre. The charity thei'cfoi'e continucs to adopt thc goillg con¢eim basis in pjcpai'ing ils fii)ancial statenients. {h) Finatlcial Instruments Tlie cljarily lia% elected to apply tlie provisiot]s of Section I I 'Basic Financial Instruments of FRS 102 to all of its fJt]ancial inst1mentS. Financial insti'uniellts are i'e¢ognised in tlie charity's balancc sheet when tl)e ¢hai'ity becoines party to tlie conti'actual pi'ovisions of tlie Instn)ent. Finan¢ial assets aiid liabilities air offset, witl) tlie nct atnoullts presented in the financial statenients, when thcir is a legally enfoiceablc l'ight to Set off the recognised aniounts and there is an intention to settle on a net basis or to rcalise the asset and settle the liabiliry simultaneously. With the exceptions of prepa)4nenls and defeed income all other debtor and creditor balances al'e cot]sidered to be basic fanCIal instruments under FRS 102. See notes 9 and 10 foi. the debtois and creditoi"s notes. (i) Cash and Cash Equiv81ents Cash and cash equivalellts include cash in hand, deposits held at call with baiiks, other short-term IEqllid invcstments willi oi'iginal matui'itics of tliTee inontl)s or less. li) Key Ei stimates aiid Judgeinents lil preparing financial statemcnt% it is necessary to ke Certain judgements, estirnates and assumptions that affect tlie amounts reeogmised in ihe fll)ancial stalemenls. In the view of tlie TISteeS in applying the aecountii)g polici¢s adopted, no judgements were i'equired that have a significant effect oji thc aniounts recognised in tlie fjnallcial slatements noi. do any estimates or assumptions inade cary a significant risk of nvaterial adjustment in tl)e next fitiancial year. Page11
THE WORSHIPFUL COMPANY OF PI.AISTEKLRS CELIRITABLE TRUST NOTES TO THE blNANCIAJ. STATEMENTS IIOR THE YEI AR ENDEID 5th APRIL 2025 DONATIONS AND LECACIES 2025 2024 Appeals and doiiations 54,910 54,910 49,055 49,055 INVESI'MENT INCOMC 2025 2024 Income froni listed investments Itilerest on ¢as1i deposits 73,992 14,225 88,217 57,733 10,838 68.571 CHARITABLE ACTIVITIES 2025 2024 Grants payable- OtheT (see note 5) TTaining awards adminisli?lion Support costs (See note 6) 83,625 666 5,989 90,280 79,300 188 5,439 84,927 GRANI'_MAKING 2025 2024 10,000 9,000 8.000 7,500 7,000 6,000 5,615 5,000 4,000 3,000 2,500 2,400 2.000 2.000 1,700 1,700 1,500 1.500 1,350 750 750 360 5,000 4,500 8.000 7.500 5,000 3,000 5,000 Tlie King's Foundation (BuTsary) St Paul's Catliedral Poundalion Loughboi'oiigli Scliools Fouiidation Pc1'boroUgh Catlieth'al Chuirh Choir Pi'ioi. Wcsteix School Fioiit Line Naval CliaplaTTi Tlie FiiEt Aid Nui'sing Yeomanry Royal Maj'ines Asso¢iatioii- A Merry ]3oiu]y Dow% Community Association SPAB Colesliill Tlieo Nesbitt- Course donation- yeai. I TRMC F.ntetyi'ises Ltd Api)renti¢es of the year & runners up Student8 of tlie yeai. & runnei's up Cai'lisle College NPTC St Vedast eolleclion Ci"aveii College Llandrillo College 282 F.ast Harn ATC Loi'd Mayors Appeal Master's charily- The Children's Society Aid to Uki'aine Bliiid Veterans UK SaTnai'itans Tl)¢ CliildiEiis Magical Taxi Tour DMR Tiaining & Consuliancy 2,500 5,000 2,500 2,800 1,700 1,500 750 1.500 500 5,000 4,000 3,000 2,500 2,500 2,000 1,500 P8gt 12
'J'HL WORSkllPlI UL COMPANY OF PLAISTERERS CHARITABLE TRUST NOTF.S TO THE VIINANCIAL STATEMEI NTS riOR I'HE VEAR ENDED 5th APRIJ., 2024 GRANT-MAKING {contÈnued) 2025 2024 K Dycj. College of Noi'tli West London St Mary's Cliuich Total otlier gi'ants 900 750 400 79,300 83,625 SUPPORT COSTS 2025 2024 Bank charges Accountancy fees GoveTnance- independent exaininei's fee (current year) 251 1,056 4,682 5.989 247 984 4,208 5,439 TRUSTEES, REMUNERATION AND kXPTr.LYSLS No Trustees received any i'emunei'ation during the year (2024.. £0)- ILYVESTMENTS Movement in fixed asset listed investments 2025 2024 Market Value Brought Fonvard Additions at cost Less Disposal proceeds Net gainsl(losses) on investinents Market Valiie Cari'ied fioi'ivard 2,498,634 2,587.689 (2,599,754) {3.848) 2,482,721 2,331,790 68,263 (39,622) 138,203 2,498.634 Historical cost of Investments as at 5th April 2,560,113 2,191,037 Geographical Aiialysis United Kiiigdoni inve5tnients Ovei'seas investments 626,230 1,856,491 2,482,721 2,498,634 2,498,634 DEBTORS 2024 2024 Pirpayments and accrued income 24,302 24,302 9,651 9,651 Pagè 13
THE WORSHIPFUL COMPANY OF PLAISTERERS CHARITABLE TRUST NOTLS I'O THL DINANCIAL STAI"LMENTS riOR I'HL YLI AR ENDLI D 5tli APRIL 2025 10 CREDITORS: Atnollnts falling due witliin one year 2025 2024 Other creditors ACCa]S ajid deferred intoine Grant comiiiitments 2,847 4,500 2,847 5,256 15,000 23,103 7,347 11 RELATED PARTIES Related pai't), transactions Diiring Ilie year the Cliaiity received £8,739 (2024.. £nill from Ti'u5tees, includiiig the Worshipfiil Compat]y of Plai5teiEis. Tlie followillg TINsles are all inenibers of t]ie Livery Coiiipally'5 Court of Assislat]ts.' Petcr Baker. Maigaret Coates. Adam Edwards. Stephen Gilbert, Colonel (Retdl Garth Manager aiid Anthony Mitcliell. No Trustees received any remunei'ation during the year or were reimbursed for their expenses12024.' £nil) No Trustee or othcr per%on rclatcd to the Cliarity had any pei¥onal interest in any ¢onti3¢t or transaction enlered into by the Cliai'ity duj'ing tlic year12024'. nil) Controlling eRtity The Charity 15 controlled by the Tste¢S. 12 MOVEMENT IN FUNDS Brought forivRrd 2024 Ggfinsl {losse8) 2025 C&ri'lcd loi'ivArd 2025 Ineoliie Expetiditure 2025 Transfers 2025 2025 Designated funds Sooth Aiiniver&ary 14 14uinber H Mott 50,000 26.000 58,000 134,000 18,000) (7,500) 7,000 {22,500) 8,000 7,500 7,000 22,500 50,000 26,000 58,000 134,000 Unre$trlcted fund$ UmEstricted incoine fi]nd 2,047,070 128,902 {51,298) IJ,028) (40,275) 2,081,371 Re5ti'icted fuiids Man¢liestei" and Salford and Restricted T12illillg fund Spurling Bursary fund 266,828 50,000 14,225 18,775) 9,000) (820) 8,775 9,000 280,233 50.000 Total 2,497,898 143,127 {91,573 13,848 2,545,604 Page 14
THE WORSHIPFUL COMPANY or PLAISTERLRS CHARITABLE TRUST NO"I"ES TO lilNANCIAL STATf4 MF.NTS FOR I'IIL YEAR ENDED 5th APRIL 2025 12 MOVLI MENT IN FUNDS (eorttinued) Brought fol'ivard CAinsl {1055es) 2024 Cari'ied foi'ivard 2024 Incurne 2024 xpenditllre Transfei's 2023 2024 2024 Dtslgnated funds 500th Anniversary H Humber 11 Mott Platinuni Jubilee Fund 50,000 26.000 58,000 18,000) 17,500) 15,IX)O) 8,000 7,500 5,000 50.000 26,000 58.000 134,000 120,500) 20,500 134.000 Uni'estricted fund$ Unirslricted income fuiid 1,913,969 106,788 {53,253) 116,026 (36,4601 2,047,070 Restricted fund$ Manchesi¢T and Salford and Restricted Ti?ining fund Spui'ling Bursary hnd 233,813 50,000 10.838 (11,4601 4.500) 22,177 11,460 4.500 266.828 50,000 Total 2,331,782 117.626 89,713) 138,203 2.497,898 500111 Aiiisiveisoi Establislied to ¢oniiMeniorate the 500th Anrtiver5ary of the El?nting of the first Cliarter lo the Worshipful Compally of Plaisterei% in 1501. Ilie illcoine frojn Iljis fund CUETelltly supports a choijster at St Paul's Cathedral. HJluJJibe Establislied irt nieniory of Past Master Heiiiy Humbei.. The inconie originally supported a bllrsary foi a post kryaduatc sttident at the Guildhall School of Miisi¢ 2nd Di3ma. In iecenl years it ha5 suppoiled the work of llie VC19 Foundation. Ilmoll Established in memory of Past Mastei. Henry Mott. The income suppotts a choi'i5ter al Pclcrborough Cathedral. PlwlEiiiiiii Jiibileefiiiid Dui'illg tlie pi-ior ycar, tl)e Trustecs establislied a Platijiuni Jubilee Fund lo niaik HM Thc Qlleen's Plalinuiii Jubilee and agreed lo provide a suiii of £50,000 10 be allocated as one-off grants to four of the Livery Coinpany's Mililaiy Affiliates and Peterborougii Catliedial, all of whom sliared significant annive150ries witli tlie Lively Company and tlic Cljai'ity diirii)g 2021122. At Ilje Janllaiy Lmeeting of the Couii of Assistant5, tlie Lively Con)party resolved to nmlcli lliis allo¢ation aiid Inade a gift to the CliaTity to thc value of approxiTnately £50,000, thereby establishing a lot21 fund value of £IOO.aOO. This was fully Spent in tlie 2022 year. Tlie Maiichester oiidS&lloi.d Fiind Eslablishcd in 2002 by a gitl of £50,000 (with an addilional £1,000 ill 2004) fiY)m ¢lie trustees in winding up uf tl)e Mancliester, Salfoi"d and District Buildittg Trdde5 F.niploycrs' Association. The fund is foi. tlie purpoqe uf suppoiting education and training iii Ilie industiy. Tlie Trustee5 re501ved on I l June 2015 10 amalganiate tlie two funds, liencefordi to be known as'Tlie Manclie5tei' and Salford i'estricted Trainitjg Fund,. RÉ&ii'icled Ti'aiiiiisg Fiiiid Established in 2007 with a gift ()f £1 00,000 from a generous benefactoi., the aim of the fund Is to suppojt and mainv4in the quality and divcrsity of plast¢iing at]d drying skills in the UK. Witli agyccjneni of tlie donoi. tliis will be achieved by wav of buiEaries. Spui'liiig Buisaiy Fttiirf Esiablishcd during tlie 2021 year by a gcncrous donaiion of £50,000 Jiiade by Liveiymaii Alldrcw Spurling in TecoEnition of Ilie 200111 Aiiniveisai'y {1817- 20171 of some twelve Spui'ling faimily Jiienibers of tile LivY, of whom seven were foi'nieT Masteis of the Cojnpany. The illcojiie froin thi5 doiiation is used to siippoit a biiiEaiy for the ediication aiid IraiiiinA of a plasterej. iii hcriiaRe plasteriiiK skEIIs. Pag815