REGISTERED CHARITY NUMBER: 297913 R•port of the Trustees and Flnanclal Stsl•ments for lh• Year Ended 30 June 2024 for THE COOKS CPIARITY Knox Cropper LLP Charter8d Accountants and Stalulory Auditors 65 Lgodenhall Street London EC3A 2AD
THE CCKIKS CHARITY Contsnts of th• Fln8nclo1 Ststèmtb lor lh• Y•w End•d 30Jun• 2024 Report of the Trusteos 1 10 18 R•port of the Indopondent Audltor8 17 10 19 statement of Flnanclal Actlvltlas 20 Ba1c• Sh••t 21 Note8 to the Flnanclal Slatoment8 22 10 30 Dotailed Statement ol Flnanclal Actlvhles 31 10 32
THE COOKS ¢HARrrY Roport of thg Tru81$ forlh• Yo#r Ended 30 June 2024 The Trustees present their annual r8port togather wllh tho finalla1 slalemenls ol thè ChArity lor the year ended 30 June 2024. Th8 Trustees have adomed thp provlslons of Accounting and Reportlng by Charities.. Stalemenl ol Recomwnentlgd Practice {'soRP applScable lo charities preparing Iheiraecounls in accordance with th8 nanCIal Reporting Standard gpplicablg in thg UK Rapublic ol Irebond IFRS 1021 (effect 1 January 20191. OBJECTIVES AND ACTIVITIES Objectlveg and actlvltles . Pollcl88 and oblecllvos The lundamenlal obj8Cts ol th8 Charity are the advanCn9n1 of the educalon and IhB g8tral welfare ol persons who are in any way associated with the catèring trade.. Iha support ol any Charitable purpose connected th th8 Clly ol London,. and tho relief ol poor members ol the Worshipftjl Company of Cooks ol London and Ihelr poor r8latfvès. In assessing applications lor grants, awards or donations. which musl fall Within the Gharflys objects, the Trust898 adopted a Grant.giving Pollcy on 8 June 2023. The PoliBy 13 by way of gtjidanco on gran1-9ing and both reflecled thg prévlous current practice and idenliligd lulure principal prlorllles. It is Iwo-tiered= Nghllghting th8 Four PilL4rs bèhind Ihe objects ol the Charfly and Tw8lv8 Princlpl8s in aFplylw Ihe Pillarn. They are.. Four Pill Craft- the advancemenl of edatIon and general wellare of profess1cal chelslcooks and thos8 iralning to become prolossional chalslcookg,. Clly any ¢harftsble purpose {wlih a pr8feronce for lood-relaled prolactsl connecl&J wllh the C'ty ol London., Company- the welfare ol WCC nMberS and their famllios.. Elizabeth Fund - small 0-Off grants lo dasèmng City and City Fringe V.9. neighbouring boroughs to th8 City ol London) food-rolalgd andlor cooklng prolects or good causos. e Princi To follow the objects In the 15th October 1987 Declaratlon ol Tw81', To consider the pMary Iu$ of granl-uiving lo be thp educallon ol profossional ch8ls and future profesOnal chels. nomialty in LldOn. to include the former hom&less. prisoner veteran communllies. To promote an educallon continuum ol the craft sklll ofcookgry from prlmary 8chool to secrmdory school and speclalist C(M)kery co118g& loaming andlor QpprentSshlp and tertiary educallonliesearch: To promote a3 a secondary locus the welfar8 ol prol8ssional chels, potential professional chefs and ex. prolasslonal chefs. normally in London {but nol nomally fronl-ol-house and other kilchan st8111, so Ihal thère will always bg SOre of the regular fund wllhln Plllar A dedicalad to prolèssional chèf wellare., To promote as a Secondary focus Pillar B lany charitable purpose associaled wilh tho Ciiy ol London) lo Sncludè benellclarfes from the Cty Frlng8,' Normally to hav& a mlnSmum of three and up lo core benèficiaries represontlng around ol thB annual regular grant fund bul normally lo commit onty lo grants for a on&yaar pariod land no longar than three year81 whilst establishing rnedlum and longer lerm relationships with core land other) ben8liclariBS, Trusl8es will providg lo Ihe Truslges. Advisory Panor annually a regular fund budget lo b& calculated lo Includ8 all donallons from tho WGG. WCC members. lund-rBisNig 6venls and inveslm9nt IncDm@ laller application of the Charivs Reserves Policy) lo award grants in Plllars A and B. Trustees will agree such grants following recomm8ndation$ from thè Trustees, Advlsory Panel. Granis in Pillars C and D will bp madg by the Trustees only., To dlvide the total annual grants from the regular fund so that the majorily Ilnanclally will be always made from Pill&r A and Ih8re will aayS be al laast ong grant from Pillar B. Funds lor Pillar C wlll be mBd8 avallable whon required and olher than In 8xceptional circumstances, will not nomidly b8 more than £1.000 per beneliGiary. PlIar D has its own do(Ikaled fund. Page 1
THE COOKS CHAAITV R•port 011ho TruBte lor lh•Yr End•d 30 Junt 2024 Only trxceplionally lo apply grants from Ihg regular lund to kltchen relurbi8hrn8nt, food charities. community kitchens. nulrillonal prOts and non-craft cook8ry classes.. 10. Normally lo commit no more than 20.kn ot Ihe annual lotal grants to any single benaliciary. 11. To r8quir8 b8neliciaries lo be accountable lo The Cooks ChaTlty by Tegular impa¢1 reports and confirmation of Ihe use ol the grant mado lo reference grants on appropiiate publallonS and websites- 12. To be transparent lo ben&faclor8 by provldlng regular reports, In nèwslètters and other puijicalions as W811 as th8 Annual R8POrt and Accounts. A core ongolng Inlllalve In PINars A or B Is regarded as one Ythere the annual grant is apPrmatelY £15,(KJO or morg. All appllcations are assessed on merit and qualitying applicallons whlch are recee with Ihe 8UPPOrt of a WCC member, are generally Inve8llgated. When making awards lo individuals. the Twslges ara requlrad to take into account the financial mean8 01 prop08ed benefkiaries and where relevanl. thelr parents or guardiBns. Whilst th8ra are no g8ogr8phical limi18 on th8 Charlly actlng In areas comected with the catering trade {Plllar A Icraftll. the Trustees consider Ihat, unless In exceponal clrcumslances, tho boneficiary 8hould b9 normally be In tho London arga and reas(ablY acsSible lo beiThJ vis11od by a member of the Truslpe5' Advisory Panel. 11 Is eslablished practice for th8 Charity lo commit lo pay a maln ongoing iniliative land cartain oth8r Pillar A and B banaficlariasl a set sum, Isubj8ct to th8 TrLJsts8s' atproval as lo how the mon6y is spenil, wth an annual applicatlon and to vlsit each a Pillar A or B baneli¢iary al least 08 a year lo vlow prcmjress and require regular wrillen lrnpacl reports lo the Trustees. Advlsory Pan&1 lo ensure that grants made aro being spent in accorda9 with the Panel¥ wlshgs. Ongolng Initlallves are morwlor8d by 8t18ast one tnember of lh8 Trusl&8s' Advlsory Pan81 and, noTfflally. represenlalives from three larger or new banaliciaries da19T pr8sèntalion8 on achievement and performanc8 lo lh8 Trustses. Advisory Panel al their April m88ting. Consislgnt wilh this pracbce, presenlalions w@re glven In person on 24 April 2024 by r8pros8nlalivos ol Treloar'8 Trust, Clly HaNesl and Only a Pavement Away. Some grants made are slngla payments lor a specific project and it is made c19ar lo the benollclary that Ihls Is a one-off obllgallon at the Ime. A Pillai C {Conwanyl grant is usually a slngle hardshlp payment for th8 W811are of WCC members lor Iholr families). On 24 Jonuary 2023, th8 Tru8ts88 èslabli8hed the Pillar D IE112abeth Fund) In memory of the late HM Queen Elizabeth11. wth the aim ol Ihe fund belng lo provido small one-off grants to dosèrving lood-related andlor cooklng prolecls or good causes which would not otherwise be supported by the Charflvs normal anwal granl%iving. Qualllwng projects musl b& located within the City or the City Fringe boroughs Inolghbourlng boroughs to thè City of London). Tha Trust88s wll usualty maka Pillar D (Ellzabelh Fund) grants of £1,000 or lèss and be more Ilexiblg than the Tnaln lund. No WCC membèr. unrkr any circumslances, is ernpowered lo ndIcate that 1he Charity will make a grant. unless it has begn aulhorisgd by the Trustees. Normally. balor8 a grant can b& consldèr8d, thè Tw818es' A(Ivlsory Panel will have r8C6ived a written applicathon which will then be discussed by Ihe Trustees, Advisory Panel wllh Ihe Panèl's r8oomm8ndations bèing rèviewed by Trusloes lor Ilnal approval. Such applications should nomially bg subrritted lo the Clerk al least seven days prior lo th6 moellng. Those rgquesls for fundlng which fall oulsldg the scopg of Charitls governing thcumen1, bul whlth the Truste&s' Athisory Panel b81i8v8 should be consid8rod lor support. ar8 r81@rrod to tha WCC Courl with a iecommendallon th818 grant should be consldered from WCC funds. The Charity has no employegs, and none of the Trusleos recoived or obtaingd any remuneration as a Trustee or o1heifinarIal benefit torlhe year. direcllyor indirecllyfrom lh8 Charity's funds. From timato tim8, Trustees recelve C8rtain modest out-of-pocket expenses as Tru81ee8, which are normally rèimbursèd by the WCC rather than the Charity. Paga 2
THE COOKS CHAFfiTY Report of the Trust$ lor ihe Yoar Endgd 30 June 2024 The Trust88s would like lo record Ihelrlhanks lo tho m9mbers 91 the Trust9, Adw80ry Pand for th8 eon$idèrable amounl of lime devoled volunlarfly to partlclpallng al panel m881ings, to Iha assessm8nl ol apICatIOnS for grants and lor liaislng with beneficiaries and for monltoring th8ir projects. b. Maln actlvltle8 und•rtak•n to furthor the CharltV$ purpo8&8 lor the publ1¢ ben¢15t In Setting objectives and plannlng lor aclfvities, th8 Trusl&es have ralarred to the Charity Conwnlsslon's genèral guIda[8 on public bgnelil, IrlUdIng thg guSdanc8 PLJblic Benefit.. runnlng a charity {PB21' when revlewlng the alms and objgctiv8s and F4anning future activities. In view ol the relallvely small nwnber of donallons, tha practic8 ol including a list ol grants gfven Ipag&s 9 10 10) is continued so as lo illustrate th8 breadth of public benefit derived from the Charftls activitiès. Whllst some ot the Inlllallv&8 are of a local naturè In thè London area, the Trust888 do not COnder Ihis lo b8 an unr8asonabl8 geogrophical restricllon and those In povety are nol excluded from bengfil. The Trustees do noi consld6r there are sigrbi*cant private benefits receivgd by those who ar8 nol dlrecl ben81lari9S ol th8 r8cipient's acllvilios or that any detriment or harm is causad. ACHIEVEMENT AND PERFORMANCE Charltable actlTrAtIos . Maln achlevemenls of ihè Charity The Charity has bg&n able lo ¢onllnue ils ongolng Pilars A (Craft) and 8 (Cltyi Iniliatives. as well as maklng sovèral one-off grants, Including from the Pillar D IEl&ab8th Fu1). In tho 2023-24 year therè was no requosl lo make a Pillar C Icoffpanyl grant. A 8ummary ol grnnts pald Is sel tsn pages 9 10 10. Delalls of tha actlville8 undertakén by th8 b8n8fvciari88 fdknws an oveIeW o11h9 Chartly's grant-giving In the year. b. Overylew of grants The Trustees have be8n plgased to be abl8 to mainlaln donallons this year al a substanllally similarlgvel of funding lo the prevlous yoar. Although the majority of the (lonaled furvjs derive from inv8stm8nt incoma, maintaining Ihls level ol lunthng would not hav8 boon possible without Ihg ggnerous donallons from lh8 WCC and WCC mèmbBrs. The Trust888 cuwenlly have five maln ongolro initl81ive$, namely tho WeslThinsler College WCC fflagship appranticeship programm8, Royal Acadèmy of Culinary Arts IRACAI Adopt a School Trust, Sprlngboard Futurechef. Treloavs School and New Clty College in Hackney. The Trustges hav8 b88n abl8 lo malnlaln substantlal grants lo Ise ¢harilles and al th9 same Ume ensuring no one beneflciary has received more than 20% 01 the over1 grants for the year. RACA Adopt a School Tru811£30,000, 17°kl, Tho Clink Charity1£25.000, 16%) and Treloarfs Trusl1£25,000. 18Qkl represent the thr68 Thst significanl payments by the Charity IFw8 year. Page 3
THE COOKS CHARITY Report ot Ih? Trusl#g for Iha Y¢8r End•d 30 Jun• 2024 ACHIEVEMENT AND PERFORMANCE Charitable actlvltA88 The Cooks Charlty Grants £219.893 IFY 2023-241 eiftibeUblund£7.5fK) 316 PACAAthpt•S( 14% Sprln8boird Fu1vt¢Ch5UmMi1 S(hoDI È11thI 29 li¥ tlqwOtyCDIIt eis,¢¢J Th¢UlnI(.9 WttAppr¢nuct S¢trdffleÉ20. . 5priD¢btr¥d 1¥lw¢t115unr5cpll4£21mv) ,.Tht air£25 . TrÈk¥s É2SMts . WCCAPWtthlK¢%htynE EZaLSD L•kIe CilwlryfolliiÈ ÈllJJ3 .14ewciiYCdknp represent8 th8 Charftls maln ongoing Iniliallves. In 2023-24, 80Vo grants related lo HllarA (Craft gducalion and w8118r81, 17.5% to Pillar B (City charitablo purposes) and 1.5°A lo Plllar D (The Elizabeth Fund). No grants were made to PINar C IWCC members and Iheirfami11g$1. c. Specific grants awardod and impact Plllar A- Craft- Chof edu¢otlon Thè Charity has continued lo support chef8 Inleracling wlth primary Schools regarding lood educallon through helping to fund demonstrator ch8ls at RACA'8 A(lopt a sch)1 Trust {£?O.000). Adopt A School Ch8fs delnier a food education programm8 in prlmary schods across 1he country. which encwraggs childrèn lo enloy an 8nlhusiasm lor food, cooklng, provenan¢o and susfwnabilily and an inslght into the hospilallty Industry. For the 2023-24 academic yegr. Ihg Adopt a School 18am d8llver8(116.330 child.sosslons of food edUcallL at 129 schools or olhgr youlh sellings and Ihe Adopt a School volunleer chefs slgnithcanly extended thg programme'8 reach and impact. In Iha 2023.24 8cademlc year, they delivered 4.700 ¢hlld-session8. AdDpI a School continuas 10 expand ils volunteer base and delivered 9 In-person training sessions and 3 onlin@ relrgshei Iralning Sessn$ lo chefs in 2023-24. The Adopt a Schod chefs have delivarad carèBrtslk8 In both primary and secondary schools. During theso talks. thgy share insights about various career paths In the hospitality industry and discuss potenllal next stsps in edLrcation. Page 4
THE COOKS CHARITY Raport of th? Truste•8 for Ih•Ygar Endgd 30 June 2024 The Charity has also ma1ntsld its longstanding support for the education ol potentlal C18 Ihrough the Springboard FulureChet1£20.CKJOI annual comp81ilion lor secondary school puplls. Durlng 2023-24 Springboard Fulurechef. 14.012 slud9nls partlclpRtad from 515 schools, with 6,913 Futurechpl Jvnlors {11-13 year81 Itng part in the Bake Ofl competltionl, and 7,136 partidpatlng In tho FulureChef114-16 yaarsl comp81ilion wlih the suptK)rt from 356 Industry ch81s across 12 regions. From the 2023 Fulurechef Bchool leavers. 1,859 sludenls proceeded lo a posftlve career In the ho8pilalily iTrJuslry. In addilion, Ihè Charlly supported Sprlngboard s Summer School 1£3.0001, a naw inltlative tor young pecpla lo brldge iha gap belween Ihg FulureCh81 comp81ilion and employment in the hospitality industry. The Summer Schc()I comprises 4 days. skllls IralnSng and 5 da, work exper18. lollowed by a guaranlged intetvigw al a Ial Industry bu81r1988. Tho Cooks Charity has conlinuod Its support lo Ih8 WCC apprenticeship 1£20,0591 programme admini81er8d through Wgstrnin81er College Ilormerly Westminster Kingsway College). providing an 6nhanc8d learning 8xp8ri8nc8 foi young 1ralnee chels. Thls year, 15 apprentices wgrg sponsored through lo Clty & Gullds Trailblazer qualifationS in Prolessbonal Cookery.. 12 at Level 2 (commis chell and 3 gaduated at Level 3 Ichel do partiel. They spent one day a wagk al collaga and four days working lor an employer. learning and prlIs1ng new skllls In th9 workplace. WCC uses ils conlacls In the Industry and in the Ciiy of L(dOn to hèlp find the best possibla employers. Apprentlces who succasslully complale both Level 2 and Lev913 are gen9rally Invtted lo the WCC 88 Apwenlice Cwks, whereupon ihey will be assigned a mentor (their Awrent8 Maslee) from WCC members. In addition, Ihg Charlly conunued to support ch818ducatlon at Lakefield Hospilaliiy College1£12.CQOI. an approvgd City & Guilds Centr8 dedlcat8d to Irainlng young116-241 women lor r6warding traregrs in tho Hospitality Indu81ry. This WBS achi8v8d by matched funding from City & Guilds lo help slx students. live ol whom completed their courses. Four weTe o11gred full-llme lobs th the estsblishm9nt they compl8tad thair year-long placement ai and two ol Ih8s0 have alpIed those posil1¢)ns. has a8p1ed a part-lime Sob while she completes her A lovels in preparallon lor a Unfverslly Degree in Food PollIS.. on8 has acc8pl8d 8 j(kn In another establishment and the last has decidgd lo conllnu8 with hèr 8ducalion closer to ho as she lives oul ol London. Lakelield c1058d temporarily in from Augu8t 2024 unill 2027, %hile Ihe Collego undertakes a major refurbishm8nt programm8. 11 is hoped that th8 Charty will b@ able lo suprt new puplls once Lakefield rfropgns. 'The Cooks havo baon an integralpartofour students'suG¢eSS.° L•k•fldd FknBpltsllly College End Dt Yo8r Report2023-2024 New City College in Hackney provid85 a unlque orvortunityon Ils Levèl 2 Culinary Skills.. Prolosslonal Chefcourse 10 sludenls from th8 most deprived areas in London. The maS0rity of students come from homas that Strug0 wllh m8eting daily living costs, 80 the Charlly's grant I£15,CIJOI enables thg Coll8g8 lo oller studènts from low income farnilies the chance lo all9 the catorig school without the worry ol having to find the extra monoy for unrfonns. trfps and professional equipment. Other opportunitias include educallonal trips to Ial food markgls and rgstaurants anfj the ehance lo compel8 successfully at the highest levels. $Lh as w) the Nestle Towe d'or. Th8 Charlws grant 01 £15,000 lor these ethjcafvonal Irlps, knlves and uniloThns was lundamantal to attracng students. The Charfl$ granl lo the CTumbs Project Tralne8ship Programme {£10,0001 In Bournemouth supports two studgnls. who war8 bolh 19 to paid èmployment as a wsult. delivering 20 IUrS pei week on hospitalit based Irainlng and developmont programmes in Food Production & SeNce. Administrallon. Hou8ék88ping and Dlgil& Skills to around 30 adult trginees a y&ar. The CruThth Proje¢l ¢hangg5 Ihg Ilves ol adul18 aged 18-70 with disabilities, mental health condlllons, slabilised addictio1 or acquirad brain injuries. Th8y work lo create owortunllles. change perceptions. and promoto tha inclusion and equal Ireaimènt of those are dlsadvantsged bgcause of who Ihey ar8, where they are from, or what challenges they face. Through Iheir iraining programme8 they èducatg and support adult8 to develop professional skills lor worklng In the Hospitality industry, and tho personal skills io ve mre independenlly. Over 90 /0 of their trainees TllOV& into employmènt in the hospltallty industry al Ihe end of Ihelr training programffles and all galn the confidence ènd sèll-èsteem lo be mora Indepgndenl. Tho programm8 costs c£12,C()O p.a. per Ira88. Pa5
THE COOKS CHARITY Rèport of the Trustse¥ for Ih•Y•ir EThd JO J 2024 The CharilY8 funding assisted with the inlroducllon ol tablets for18arns, enabling blended18aming and provision of everyday use ol IT. This was the final yoar ol a thraa-y8ar funding by the Chaiily and thè thrae-year Impact ol the chaly'S funding has enabled 8everal leamers lo Ilve independently and serni-independenlly because of the training and life ski118 learned; lo work In full-tlmo empksymenl and one is looking lo bgccffie a trner at Crumb8. "The Traineeship Programme has prov8n lo b8 translom?BtiV8, bolh in advanclng calering and hospitality skills and professiorpal eXperi8n. bul also In daveloping and inpprowng tho self-esleem, confidence, heallhy oallng 8nd w8M.b8ing of indNlduals who are often marginallsod &nd would othgrwise havg vory limit opportunlly to grow as people and as members of soclely. Wlthout the support of Ihe Cooks, the Inppacts of tha Train88ship Programme wouldnol h&va boen possible.. CrLTrmb4 TrolnBpthlp proyramrne updAie Aepjrt MoyW23 Wlth tha unpraced8nl8d demand lor staff in Ihg ho8pllallly Industry, particularly in kitchens. Iho Trust99s continued to support job opportunities and Iralning forlhe ex-hom81ess, ex-prlsoner and veteran communities Ihrouth House of Sl. Barnab8s (sadly closed In January 20241, Only a Pavefflenl Away IOAPAI. Thg Cllnk Charity and No Going Back. House ol Sl. Bamabas was both a charity and social enterprise, With a mlsslon to break the cycle ol homelessness aThJ ran 10.week programmes lor thosè who wanted lo work bul were at Ihe rlsk of Ik)melessness or wer8 hom8le8s. Tha Cooks Charity regularly training 013 partlcSpanls (ln an Intake o112} who worked in Ihe HOSB kitchen. Unlortun8lety, due lo lh8 closure ol the Members. Club on whh HOSB relled for woth OFPOrtunltlas and funds, the HOSB Charity also cgasgd operatlng and OAPA took pastoral responsibllily lor former HOSB students. Onty a Pavement Away 1£9.0001 is a charity Ihal provides pathways and supports people out of homglessness and crlma Into purFY)sBful a50YManI within th8 ho8piialliy industry. Thè Trust ol the Cooks Charity agreed a one-off exlraordinary E4.000 grant to OAPA lo assl8t In the welfare ol lom)ei HOSB sILentS, whose pastoral support had been Iranslorre(J to OAPA on HoSB's ¢losurg. from funds which had bgen eaffnarked lor HOSB Ilsell. In addlllon, the Charity granle(l OAPA £5.000 for ils own Passport 2 Employmant 5-day imm8rsive programme to give 12 candidates skills and conlidenca lo slart a caregr in hospilalily and to bè run 4 limas a year. Thg Cli[ Charily1£25,0001 ha8 a principal aim to reduce re-oltending by Irainlng people In prlson to galn now skllls and qualilicalions in catering and horticulture and rehabllllallng by supporting Iheln as Clink graduates aThJ helplng them to secure employment and accommodation upon release. The Cooks Charity wnade a £20,(M)O grant this year lo Support the employment costs of a Sous Chel Trnerfor The Clink Evanls tralnlng programm8 al HMP Downsview in Surrgy. AccordlrwJ lo tho Juske Oala Lab report, prisoners are 49.6% less likely to re-offend by entering The Clink's training programm8s. Irb addltlon. the Charily participaled In the Big Glve pledge so that an additiond grant of £5,0(X) lor ch81 training was matched by tha Big Glve reStIng in the Clink Charity recelvlng £10,000. No Going Back1£4,0001 Is a charSty worklng In the penal system lulfilling a critical rol8 In pravanting rooflendlng and SLW)rting it is part of a Livery Snlllatfve. 11 Complements the yrk of The Clink Charity with an annual budget of £400,000. working with c.400 prison8rs allowing c.97 01 Ih8rn to go into long-18mi employment. £4.000 funds ong pdsoner through the prcNJramme. Bayond Food Foundalion18FFI {£9,500) Is a charlly in Southwark Ihal he*s Ihoso who had bggn homeless, ex- prisoners and refugees reallso a car88r In hospllallty and provides Ihem th pastoral and administrative supporL The Cooks Charity had prgvlously supporlad BFF in 2022 during the cOd pandèmic and thL8 new grant of £9,50Q funds the Irairwng 015 trainees over 3 we8ks and continued 8UPPDrt provided by Ihe FouThYallon b8yond the training. Pag8 6
THE COOKS CHARITY R•port al Ihg Tr1??¥ lorlh• Yw End•d 30 Juno 2024 The Victor Cesorani Hospltdity Memorial Scholarshlp {£3,(KIOI we$ eslablishgtl in 202110 celebrate th8 lil8 and legacy ol Victor Ce8erani 11919-20171, one ol th6 UK'8 mosl Inspirational caloring 8duEalionali$ts. 11 aims lo provide bursarfes lo caterlny sludenls lo help wllh purchasing uniforms and oquipmènl. The Charity granted a contribution ol rJ,000 representlThJ £500 per sludent lor slx sttjdanls. The Fellx Prolecl1£1,5001 Is a le(Ml dislribulion charlty, part of the Fareshare n8lwoth. proparg and dellverlng around 4,000 meals a day in LoThlon. The prolecl employs chef8 and18 Ilnked to a Lèvel 2 Iraineeshlp. A small grant 01 £1,500 was mad8 lo provid8 chets. whilas and kniv8S. pi f welf The Twstees have also bean kw) to support the gen8ral w8llar8 ol ch8fs aThY mada a grant to Ho4)itality Acwon {HAI 1£5.0001, the UK hospitality industry's principal benevolent charfty, offering lifelines to people who work or have wothed in ho8pilalily and lind themselves In dimlcully or crfjsis. £5.000 supports 10 ch8fs in Grgaler London and th8 Soulh Eastwith a cost ol lThilro grant of £500. Including prlical advke and support from HA'S éxpèr1erd cas8 work8r8. Plllar B- Tho C Charit8bl8 conn8¢tions th the Clty tsf London are also a kgy object ol the Charlty and tha Truste8s ar8 pleased to rnaintain a slroThJ relatlonshlp wlth the nulrttional tgam at Trgloa¢s School in AlOn, Hampshirè. Treloarfs School is a charfly commllled lo a worfd whor9 young. Severe disabled people can take control of Ihelr Ilves and reach tholr full potentl. All 170 students contend with th8 most compl&x physlcal disabilities and a slgnlfScanl number also have a rangg ol leaming difflties. The Cooks Charlty has a longslandlng commrf(m8nl to Treloarfs and this year continued lo provide £25.0(K> towards dielellc seNlcos, allowing sludants to have the right nulilllon, preparad to a conslstency th81 is both aFvellslng lo the eye bul also mggllng th8ir dietary needs. °Wllh your lunthng. The Gooks Ghorilyis supportlng a 818p changa lor the benafil ofso many p80pIe.' Tr•loq¢• IntrA Report Janupry 2CQ4 Tr Cook6 Gharlty hav8 begn on8 ofthe mostgenwous and loy&lLlvory GoMnI0$ overa considerable numb9r of yo8 Yotsr continued support for our dieletic seryicos Is Invaluabls to so many of our studgnts with many complex medlcal needs.. Slmon Blr¢h, D•puty Chlel Executl¥e Tre1084 12 Septbe12024 Th& Chaiily as part of ils commltm8nt to acadgmic studies relatlng lo food policy. has stpported fvom the out8el in 2010 City. Unfvarslty ol London C8nlre for Food Policys annual Clly Food Policy Symposium. Thls Symposium offers a unique cf)portunlly lo brfng logelhor acadgmics, practitioners, stud8nl$, governmènt polwm&ke advocacy organlsalions, charitable groups and Industry r8pre8enlalives from Bcross Ihe food syslgm. Thls forum prompts dlscusslon and interdisciplinary Inl8gration on a topical Issue affecllng the food syslgm. Through plenary talks, panel dI5cusslons and int8r8clive workshops delogates identify pracllcal solullons arKJ follow.up actions. The 2024 Symposium was held at the UlVer$t*S campus on 18 April 2024 b8lora a capacity audlence 01225 aliand88s wlh th8 theme ol'Achloving rgsilienl and dwersg food systsm5 through local and regional governance,. Thp Charty contributed £9.000 towards Certain hosling costs. In partUlr. a summary report which is produ¢ed IlOWIng each Syinposium which outllnas tha dlscussion highllghis and policy recommendallons. Thi8 report 18 used as a resource lor people worklng across th8 food Byslem lo mako posilwe change. Page 7
THe COOKS CHARITY Report of the Tru8ts98 fr>rlh8 Year Ended 30 2024 Followlng the Charity's conlribullon1£10,CIJOI lo the Lniery Food inSllalive appeal for a rèlrfgerated vAn for Clty HaNasi in 2022-2023, the Charlly contrfbuled to the Second Livery Food InitlBlnie truck appoal (£10,000) lor Glly HaNest In 2023-24. This represented a collaboratlon 0161 Liverycompanies and Livery Charflles ralslng E195.000 lo keep the truck on the road for three years and follows 42 Llvery nanIeS ar charities raSsing in Iha previous y8ar the full £1 .0(K> needed lo keep a relrlgerated van on the road for three y8ars. Thls van has delwered 500,000 meals annually Irrm recovered food to 375 LorKlon charllies tackling food poverty in locd communi11gS and the now truck can lake morg capaclty. largar individual load8 and go further afield. °Your ggn9rous donatlon (to Ihe LFI vanAppealJ enabled80. 180 meats ata velue 01£120,000 to people in need,. th8 rwue of 14,000 ronnes olsurplus food and the prev8ntion 0184 tonn8s ofgrg8nhous8 gas emlsslons. Youi Febnjary 2024 donatth will have even greater Impacf.. Tha knvary's 7.5 lonne tmck to rescue 3.5 mllllon meals overlhe ngxt Ihreeyears (willmean) overthe nexlyear, thB Cooks, lundlng wlll onablo this fruckto rescuo 129,629 m8als af a valua of ovar £190,000.. Pr•88nt&tlon by Sarah Cilcult, CEO olcly H•wv••t 24 Apwll I r D- The Ellzabeth Fund The Trustee8 mad8 @Ight grants from th8 Elizabeth Fun(1, Seven of E1.000 and ong of £5. St John's1£1,0001 & Sl Paul's Whllechapel1£1,0001 CE Prlmary Schools. Thè WCC had prlOuS supporte(J bolh schoolg food banks during the Govid pandemic and the Charity agreed to support each School £2,000 equally under Pillar B ICIty} and Plllar D (The Elizabeth Fund). Falr Shot Calé1£1.0001 A $Cla1 8nterprisa c91é and reglslered UK Gharlly that alms lo tran81omi th8 1fv6$ of young adults wllh leaming dlsabililies andlor aullsm Ihrough SP8Bialily coff88. Cookery School al ttle Porlland Streat's1£1,0001 aim 18 to lakè peorlo back to honesl. IK>mety, deliGiou8 and elhical food and encourage people away from ultra-Pr&s8&d Food8. InCommon1£1,0001 brfngs genèrations togetherlo bulld more connected, inclusive and ag8.tri8ndty communllles. Through two IN)ur long weekly classes. the course supports partiapan18 01 all ages to learn how to cook nulrhlous, pl8n1-baS meals whilst nurlurfng exlsllng inlerg8neralional relationships. Mlracl8S the CharIty1£1,OI supports children and Ihgir famlles Ilving in kK)verty and h8lps them through crlsls sltuatlons such as serious illness. Thelr'Feed Lon(lon Project.. whith takes place overlhe summer Se01 holKja. purchases Ingrts(fienls lor clNldr¢n and famS1igs livlng in Hackney. The Refuge9 Communlly Khchen1£1,0001 represented a high level ol Impact provi(ling 2( meals a month. Maggi8's Royal Free1£5001 is an Indepèndent charity provldlng an gvidenc8-based programme of psythologlcal, social, and pracllcal support lo peDpl8 with cancer and th8lr lamili88. T1 grant Is lo bè focused on Ihe nulrillonal aspects of Ihg bid. Page 8
THE COOKS CHARITY Report of Iho Trust8 forth• Yo8r E¢d ao June 2024 . Grants paid Grants mad& for the year lo 30 Jun8 2024 {'224) are detalled an(J compargd to Ihe year lo 30 June 20231'2023'1 below.. 2024 2023 Pillar A- Craft Advancement ot Educatlon ond Genoral Welfare of Profe88lonEI Cooks Royal Acadgmy ol Cullnary Arts Chef8 Adopt a School Trust" Thg Springboard Charlty- Schools Fulurechef Compolilion. Westminslgr Klngsway College WCC Apprèntice Programme. Chels In Schools New Clly Collage Hackng Th8 Cllnk Chartty House of Sl Bamabas Lakelleld Tralning College (City & Guilds Makhed Fundlngl Crumbs Traine&8hlp Project B¢de House Assocbalion The Burnt C1 Project Bgyond Food Foundalion Only A Pavement Away Hospitallty Action No Golng Back Ceseranl S¢holarshlps The Felix Proi8Ct 30.000 23,000 20.060 35,000 20,000 20,061 10,000 15,000 32,000 4,600 12,CK)O 10,C(JO 10,IxJo 4,000 15,C()O 25.000 11.333 10,(YXI 5,WO 4,000 3.000 1,500 166,393 177,661 Plllar 8- Clty Any choritablo purpoje connected wlth the Clty ol London TrBloar Trusr City Harvest Spitsllield Crypi Trust City Univ8rsily Food Symposium St Johnslst Pauls Schools Fdbank 25,000 10,000 27,800 8,000 2.500 9,ODO 46,000 38.300 Plllar D- Ellzabeth Fund Sl John'slst Paufs Primary schools Falr Shot Café Incommon Portland Streg1 Cookery School Miracles The Charity Refug99 Comw4JnSly Kllchen Maggie's City Hawest Ozer Umagen Charity Global Gangratlon 2,000 1.000 1,000 1,000 1,000 1,000 500 2.000 500 500 7,500 3,000 Total gvants award•d 219 893 218,961 Page g
THE COOKS CHARITY Fl•port of the Trug1008 lor lh¢ Year Enthd 30 Juno 2024 "d[le8 a main ongoing iniliathve Cily & Guilds matched funding is a scheme where City and Guilds match a grant gSven by The Cooks Charity for the advancgmonl of edu¢8llon and whore City and Guilds qualilicallons arg awardod. All donations were paid from unrestrfcled funds tor bolh the yèars orbdèd 30 June 2024 dnd 30 June 2029, excepl lor £5,687 (2023: £8,600) which were paid hDm Ci1y & Gullds Matched Fu)dlng. Pago 10
THE COOKS CHARITY Report of Ih? Trust¢p$ tor the Year Ended 30 Jun• 2tr24 FINANCIAL REVIEW a. Golng concern After making approprfale 8n(wlri88. thé Trustees have a reasonabl8 8xp8ctation that the Charity has adequate resources to cOnr8 in operallonal exislerKe for Ihg loreseeable luture, For Ihls reason, they continua lo adgpl tha goiThJ concern basis in preparing the Ilnancial sta18menls. Further detalls regarding the athption ol the going eoncèm basis can be found In th8 accounting policles. b. Flnanclal raview Ilncludlng roserves pollcy) Th8 8ndowm8nt fund, which has been built up ov8r ihe y80rs oul of donations from The Wor8hlpful Company ol Cooks ol London. has been dosignaled 'Th8 Gooks Endowm6nt'. The pollcy has conllnu8d ol rog9rding the Incoma arising from the Inveslm6nts reprB8onling en(lovfflnI funds as avallabl@ to bg expended in accordance wllh the Charfty's objectnigs. Incomo Irorn Ihg Invgslmenl8 repreSentg the Cooks Endowment Is unreslricled as lo Its usa. The Charlly rec8wed a donatlon in Jun8 2023 lo be appliod lo Ihg 2023-24 Charily finarla1 year from Ihg WCC of £37.804 by way of a transfer ol AVI Global Trust sharas, which w8r8 then sold and re-lnvesled in Ihe Schroder Charily Multi-Asset Fund. In 2023-24, donations recaivad. most ol whh wère Irom WCC m$mber8. amounlad lo £29.553 and inv8slmonl incomo and Interest receivable amounted lo £247.974. Aller making charitabl8 grants of £219,893 and cov8rlng operating costs. th8r8 was a surplus ol unrestrrct funds for the year of £41,471. Thi$ surplus wa8 transferred to the Expendable Endowrnenl Fun(l. Accor(Jlng to Iha Caz8nove r8port al the Truslg9s mepling h8ld on 11 June 2024. tho portlolio had risan in the la81 weak and now 8lood al c.£5.9M with 72% in equities. This represented a medium to hrgh level rfsk investment apprOh which allgnod with many othar charili88. It was reported that thw8 had b88n an Increasthg exposure lo equities in lasl 6 months within ihe CMAF which was required lo gnable It to re8ch the target return ol CPl+4°k.11 was expeCtj that exposur8 to growlrom 72%10 75180%. The Sterling Liquldliy Funds IBlackRc¢k and JP Morganl were earnlng c.5.2Q/o crn11Y. Interest rates were expected to come down slowly. so return should slay high. These lunth would therefore r9main attract6 lor short lerm holdings, bul greater lorig-18rm retums could be achieved by InvestirwJ in Ihg GMAF portfolio. Overall Cazenove f8PDrted in their 7th Jun8 2024 report thal interest rates wore weighing on gro bul consum8r demand remains rfjsilienl in developed markets. Invesltsrs remaln bullish while volatillly r8m8ins low. Consumerconlldence has improv8d across develope(I markets, lIst busin88S conlid8rKe appears to have bollomed OUL Elevated lav8ls ol inllallon Could warrant continued hawklsh c8nlral bank policy and 8scalallon in ge0polital 1gnsion8 are both rlsks, as well as lalloutfrom a large numbèrol electlons taklng place this year (particularly In tha USA). The balance of Ihe Charity's investments, representing Ihe maiorlty ol ils andowment. carrlod lomard as al 30 June 2024 was £5.955 mlllion, compared wilh £5.478 milllon al 30 June 2023 Ireslaledl. Tho majority ol lhasa funds ar8 ii)v8sled In ihe Cazenove Charity Mulli- Ass81 Fund but 2150,000 Is invested through Cazenove equdly in two slethng Ilquidilyfund5 managed byJP Morgan and Blackrock lo allow a belter rgium than banks could offer and lo diversity the portfolio. Th8 Trustees, th the SUFPOrt ol the Tru8lees' Advlsory Pan81, have taken the view that the predornlnant part ol regular annual receipts from the WCC slKJuld b8 regarded as endowed lunds and the Incom8 8rlslng from the investments rèpresenting Ihosg lund8 as unreslrfctgd funds untll such lime as a Capllal fund of £5 milllon had been achieved and maintained In real tarms. Page 11
THE COOKS CHARITY Report oftho Trugle lor Ihe YeAr Ended 30 Juno 2024 Thg Trustses review IlnanLYal position ol the Charity al each Trustee meellng and finalised the Charmy's grant- glvlng stratogyon 8 June 2023. Tho Trustees sel a granl-giving budget in June each year. wlmch Ihgy communlcale to the TruslBes' Advisory Panel and seek rocomm8ndations from tha Panel lor IhB award ol specific grants. In the past. thg Trusle9s havg regarded a caplial sum ol aboul £5 mllllon in the endowm8nt to be sufficient to generate 9nough incom8, alongside r8gular donallons from the WCC and other bonefactors, to fulfil its objects. gven at rad@d levels compared to previous flnancial years bul this is now uler dIscus$i bglw99n thg Trusl8es wlth a view to revision. Wllh the current volalllily of mark8ts and inllallonary pressurgs and noting that futur8 donAtions from the WCG wlll bg slgnlllcanlly reduced lin some years lo n511 due to the rethjctton ol WCC'S own incomg, Ihg Trustee8 continu8 to kaap this policy under roview. The Trusteès have resolved lo cease raising papar bank ch8ques In the future and move lo an electronic banking plalform, whllst mainlaiThng dual aulhorisa1i¢)ns. The Charitys thon bankers National Wèstmlns18r Bank PLC unable lo provvje Ihls $8rvir and. lollowlng a revlew ol pol¢nllal allemalive banking provlders, the Charity IrdnslBrr8d its bank accounts to HSBC PLC. vthich bgcame operational on 7 May 2024. Unr8lated lo thls liansler of bank accounts, th8 Charily suffered a fraud Ilhe Axa Iraudl during thls financial year, whlch has been resolved lo Ihe salisfacllon of thè Truslaes and the Charlty Comflli88ion. The malter was dlscovored lollowlng routln8 bank reconc51iations and reported lomially to the Trus188s al Iheli roullna pland meeting on 30 January 2024. A total of £248.76 by way ol four dlrect debil p8ymènts to AXA Insurance wa8 laken from the Charity Bank Account in Sgplgmbor and Octobgr 2023. AXA made two refunds lolalling £421.50 into th8 Charity Bank Account. Axa's Fraud 08partmenl having idèntified the payments as fraudulent. The Char6ty's thgn bankers. NalWe81 have bean unablè lo explaln how a direct debll mandate was set up and ulillsed wlthoul aulhorfsallon by any 81gnalodes to thè accounl. Th8 Chair, with the support of tho AclSng Honorary Treasur9r. formally liled online reports Yilh the Chaiity Commission and Acllon Fraud on 1 February 2024. The Charity Commission assured the Tru818eS that thay hav8 dealt wllh tho matter appropriately arKJ responslbly. No substanlfve response was racalved by Action Fraud. The Charits former auditor8, MHA w8r8 inform8d on 5 February 2024. A Finar)Glal Working Group {FWGI was formed conslstlng ol a Tmslee, Ihe BGA hokeeper, the Clerk to tha TnJ$iees and le(1 by the Ading Honorary Treasurer. There were four obAeclivas'. using the Charity CommSsslon Guidance review11) the charitS inlemal Ilnancial conlrols and121 the Charills polkie8 assoclaled with fInarla1 conlrols'131 the CharitlslBGA's bookkeeplng processes and 141 outlining the services provlded by the WCC to the Charity. The FWG reported to the Trustees al their meeting on 4 April 2024, the Acting Honorary Treasurer commenting thal generally the Charills procedures worked well bul neerkd IlghtefNng in somg araas. H8 explalnèd Ihe FWG used the Chaiily Commlsslon ch8cklisl lo revlew procedures and ha nolgd 4 key lindings.'111 the need for an ovorarching Charlty Flnancial Policy Document'121 the r6qulremenl to cond1 an Annual Flnancial Aoviow'.131 the opening ol the rbew Online Bank Account wlll address many ol the recommendations ol the FWG and141 the potential requiremant lor an audll conwniltee and internal auditor thich was viewed as (Isproportionale for a charity oflhe size ol the Cooks Charlty with no lull-llme 8mploy888. The recommendallons were unanimoudy adopled by Ihg Twslees. Th8 draft Financial Pollcy was 8dopled by the Trustees al a megllng on 15th Octobgr 2024, Including annexes on Anli-Bribèry, Donallons, Expendlluro Umlts aThJ Aulhor1118s. and Howitallly. A riumbor ol ffinancial control processes had begn changed following the April Trustggs, meeling and thè Hospilallly Regis18r on gifts and enlertalnmenl recelved be¢am9 effeclivg on l July 2024. Page 12
THE COOKS CHARITY R¢port of tho Tru81888 ltsr Ihe Year Endgd 30 June 2024 FUTURE PLANS The Trustees have declded that the lolal sum available for clsbursemenl as habitual gTants from Plllars A and B, for the year ending 30 Juna 2025. wll rèmain al £205,000. In addllion. £10.000 is availabl8 lor City & Guild8 Matched Funding under Plllar A and £7,500 is avallable from The Ellzab8th FU under Plllar D. Grants from Plllar C wlll be mad@ from Ihe expendablo endowmgnl. when requirgd. The Truste8s regard the Charity as haviThJ pledg8d grants tolalling £179,J0 as at 30 Jun8 2024 in r8spect ol ongolng projects for Ihe year erKling 30 June 20251.2025"), as follows.. 2025 Plllar A- Craft Royal Acadgmy of Culinary Arts Springboard Fuiurechellsummer school WCC Apprentice Schemo Now City Collegg The Cllnk Charity Hospllalily Action Only a Pavement Away No Golng Back 30.0 25.0 20,0(NJ 15,OtN) 25,OThJ 10,0fy) 10,000 5,000 Plllar B- Clty Trelo8r Trust City Universlly Food Symposium 30,000 9,000 Total PIXar8 A and B Prevlous b8nefici8ry organlsalions including Beyond Food Foundatlon, City Harve$l and The Felix Project may warrant ongoing lundlng In cour8e. STRUCTURE. GOVERNANCE AND MANAGEMENT Governlng document The Cooks Charity is an unlncorporaled charily, registered nun*)er 297913. constiluled and gov8m8d by a Declaralion ol Trust dated 15 Oclob8r 19871'the govèrnlng document?. Thg Charfty was eslablished by the WCC as a way ol dIr8Cti most of its charftable glving lo a vatlely ol good works assoclal8d with the cal1ng Ir&Jg or tha City ol London. R8erullment and appolntment ol new Irust•¢8 The power of eowinthng new Trusta8s Is vèsIBd In the Court of Assistants of the WCC and if and wh8n8v8r lh8 number ol Truslee5 is less Ihan threa, then one or more new Trustgas hav8 to b8 appointed 10 bring the number up to thr88 at18aSt. Since 2016,11 has been practlcg ol the Charity to op8rata with live Trustees. Pag8 13
THE COOKS CHAAITY Aeport ol the Trustees lor the Year Eb)ded ao Jun• 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure The Trustees havg revi8w8d th8 Charity Commi$slon Guldance for Charfli8s th a Conneclion lo a Non-charlly published on 29th March 2019 and given the assoclallon with Ih&WCC as founder, appoir)ler ofTrusle&s, princlpa benelaclorand provider ol ¢ertaln seNicestothe Charity, havé noted this connection In th& Charivs Rlsk R&gi818r. The Chgir ol Twstges is responsle lortho indudLN) ol any new Trustgo, whkh Involv¢s awareness of a Trusle&'s responsibilities. tha goveming document, adminlslrallve procedur8S, the history and philosophi¢al approach of the Charily. A new Trustee would recohjè a copy ol tho praviou8 yeavs Annual Report and A(LOtS and a copy ol Ihe Charity Commi8slon leaflet. Thg Essenlld Tm8lee - What You Need lo Know.. tho govarning documént, the various Policies, the risk regi8ler and recant Minule8 Ot TNstee mgelings. A new Trustee with no previi)us exporlonce would bg ancouraged lo aiiend one ol Ihe many publicly availabl8 charity conferences. This Induction proces8 wa8 last lollowèd in 2021 when two new Trusl8gs w8r8 appolnled. The Chari1y Is admlnlslered by th8 Trusl88s and the Clerk to tho Trustee8 th the assistance ol the Trustees, Advlsory Panel dected annually by th& Court of ASStants of the WCC and providing the Trustegs wlth recommgndalions regarding spedlic grant-giving. The Charlty has adopted and operate8 accordlng to & number ol policies., namely. Conlllcls of Inleresl, Safeguarding, Invoslmenl. Reserv8s, Data Privacy and Granl-Glvlng, which ar8 8ach reviawed al least annually by the Tnjsloes. During thi8 year, In wxordance wlh the Charity's Conflict of Inter881 Policy, Ihe Trustses wer8 routinely asked lo d8clar8 81 each Tiuslees, or TAP Mgellng any conlllcls ol interest. All Tiuslees declarad they wgre mgmb8rs ol Ihe WCC Court and Iho Clerk to the Trusl88s dlared he was the C19rf( lo, awmj paid by, the WCC. In addition, D9d Snmlh dlared ha was appointed an Honorary Follow of Weslmlnsl8r Kingsway College and a member ol the Sl8erlng Group Ibut not a Tw5tÈ&l ol the No Golng Back charity,. and SSmon Fooks declared he WBS a RACA member bul h8ld no offi'cial role. Me911ngs of the TTU8lees are required lo b& held at least four tlm8s a year. The Trustees mel slx lim88= routinely on 25 Octobgr 2023 (ln persor)). 30 January (by videoconferencel, 4 Apr1 (by videoconlarancBI and 11 Junè 2023 (ln person). In addition, there wa8 an extraordinary Trustees, meeting hel¢J vlrtually on 11 January 2024 to dlscuss the Axa fraud and ils irnpllcations and a sp8clal Truslegs, mealng held vlrtually on 21 Juno 2024 lo dlscuss Elizabeth fund grants. The Trustees, Advisory Panel mol fourtimes Itwic@ in p8rson and ts%ice byvldeoconferenc81 on 12 Oclobsr 2023, 25 January. 24 April and 21 J[e 2024. The Truslees have (lèleimingd that maètings held vlrtually by de0ConferenCe, includlng those where only sornè part1panIS join virtually. n$111U1e tormal meelirrfJ8 and are b8 recorded In the Minulg1)ook as such. In addltion to th8 Trust8gs, othér WCC members wnslhutod the Trustees, Advisory Panel were.. The Master. Thg Second Master, the Late Master, the Acling Falh8r of thB Company, Thè Acting Hon.Tr8asurer, four Past Master8, one Asslstant. hvo Lwerymen. one Freeman and one Honorary Freeman. In accordance Mlh the discr811onary pow8rs given In hs goveming doclmenl, th8 Charity ha$ delegated th9 day- to-day rnanag8m8nt of 118 investmènt Portfolio lo professional inveslmgnt managers who work closely with thg Irwe8tm8ni CDmffilte8 ol the WCC in delerminlng inveslmenl seleciion. Follovlng a forrTial r8vigw of several investment managers, Cazgnove Capital Management werg r&appoinled in 2018. An Snlomal rleW wlll be conducted by the Invostmenl Commillee In 21)25. Page 14
THE WOKS CHARITY Report of Ihg Tr8 for tho Yèar End 30 June 21)24 STRUCTURE. GOVERNANCE AND MANAGEMENT The Truslegs are responsibla lor salgguarding th8 ASS8ts of ts CharSly and lor ensurlng that il is fully ¢rAnplianl with relevant regulations and best practlce. They have reviewed the key rlsks lo whlch tho Chailly is exposed, which ar& recorded In Its Rlsk Reglster. together with operalirw. financial and complianc8 Controls that have bean implemented10 miligalo those ilsks. The Truslees are therefore ol the view that th8r8 Is a fomial orooing process lor idgrbtifwng. 8valualng and managing th8 chori18 signili¢8nl risk8, Ihat has bèen in place lor the year gndlng 30 June 2024. This procv65 and the Risk Register are regularfy, al least annually, revlewed by tho Truste9s and Wag reviewed In lull al the Trustees, meeting held on 30 January2024 and11 was delgm)ined that th@ R18k Reglsler should bg reviewed al the outset of all future Truslee8' meelings. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charlty numbor 297913 Prln¢lpal addr•s$ 3 Rock Lana Wamiln81er Willshir8 BA12 9JZ Tiustees OHW Goodinge (Chair PAP Wright DAHM Smilh CBE SJ Fooks PV Buthj OBE lappoinled as a Tiuslee 18 September 20131 (appointed 2 February 201 $1 (appointed 3 May 20161 lappolnted 19 May 20211 lappoint8d 21 July 20211 Audltors Knox Cropyer LLP Chartered Accounlanls and Stalulory Auditors 65 L8adanhall Slreal London EC3A 2AD Bankers National Weslmln8ler Bank Ple PO Box 3038 57 Vlctorla Street London SW1H OHN Investment advi88r8 Cazenove Capllal Managemenl 1 London Wall Pla¢e London EC2Y SAU STATEMENT OF TRUSTEES, RESPONSIBILITIES Tho Truslggs are responsible for preparing th8 Report ol the Trustees and the financial Statements In aOrdanCe with applicab18 law and Unltad Kingdom Accounb'ng Slandar(Js Iunlled Klngdom GOrallY Accepted A¢untIng Pracli¢el. Pag815
THE COOKS ¢HARrrY R•port ol th? True0 lor Ihè Yèar Ended 30 Jun¢ 2024 STATEMENT OF TRUSTEES, RESPONSIBILmES- continued The law applloabl8 to charities In England and Wales, the Chartlie8 Act 2011, Charity (Accounts anij Aeportsl Regulalions 2008 and the provlslons of thè trust deed requirgs th8 Trustees to preparè financial slalomenls lor each Ilnanclal year which givg atrue and lairview ol the 51ale ol allairs ol tho charity and of the incomlng r@SOlI$ and 8ppllcallon of resources. including the incorng aThY expendllurg, of the ¢harily lor that period. In Preparing those Ilnanclal slat8menls, lh8 Trustèes are requirgd to select sullable accountir¥J pol1cl aThJ then apply them eonsistenlly, obseNe the methods and prilpleS in the Charity SORP., make jLwJgemenls and 8Stimal8s Ihal are reasonable and pwdgnt., prepare the financial atennts on tho golng Co6rn basis unl8SS it is inappmprlale Ic* prasume Ihatlhe charlty will continue In buslnèss. The Tru81ees ar8 responslbl8 for kè8ping prop8r accountirtg records whlth di8dose th r8asonabl8 Bccuracy at any thme the flnancial Fxjsilion ol the charlty and to enable tham to èngure that the financial slalemenls comply wlth the Charities Acl 2011, the Charity (Accgunts and Report81 Regulallons 2008 and provisSons ot thg trust dÉed. Thèy are also responsible lor saf8guardiTrJ the ass8ts ol the charity and hence for taking roasonablg $1gPS for the preventlon and detection ol fraud and othar irregularlles. Approv8d by ord8r ol the board of Tnjslees 3 April 2025 and slgned on Ils behalf by.. OHW Gooding9 (Chairl - Truste8 Page 16
Report ol th8 Ind•p8ndènt Audltors to the Tru8te8s ol Tho Cook8 Chorlty Oplrxon Wo have audlled the Iln8nclal ststemenls ol The Cooks Charity {Iha 'charit lor th8 yèar ended 30 June 2024 which compris8 the Slalement ol Finan¢ial Act1vg$, the Balance Sheet and notes lo the finarla1 statements. IlUdIng a summary of signlllcanl accounting policlos. Th8 linanclal reportiNJ Iramgwork that has been applied in Ihelr preparaliorb is appllcabl8 law and Unlièd Kingdom Accounting Standards IUnil6d Klngdom Generalty Acoeptgd Accounllng pract&1. In ¢)ur opinion the Ilnanclal 81alemenls= give a Irug and tair w8w ol the statè of the charity's allalrs as al 30 June 2024 and 01118 Incoming resourcgs and application of Tesources, for the year Ihen endod- hav8 bean properly prepared in accordancg th Unit8d lfjngdom Generally Accepted Accounllng Practicg,. havè been prepared In accordance wlth th8 r8quir8mènls ol the Charities Act 2011. Ba818 for oplnlon W8 conduct8d our audll In accorda9 with In19rnalional Standards on Audiling IUKI IISAS (UKI) and applicable law. Our responsibilibes under those standards are lurth8r d8scrib8d In the Audilors, rgsponsibilttie8 lor the audit ol the financlal stalomenls section ol our rgporl. Wa arè Independent ol IhB charity in accordance wlh Ihe elhlcal requlrgmenls that are relevant to our aLKJil ol Ihe Ilnancial slalemgnls In th& UK, including the FRC'S Ethical StsrKlard. and wè hava lullilled our othor ethical rgsponsibililies in accordance with Ihese requirements. We beli8ve that the audit evidence we have obtained is sulFl6nt and approprfato to provlde a basis lor our opinlon. Concluslons relating to golng ¢on¢ern In audlling the financlal stalamenls, we have conclude(J that Ihg Trusl888' us& ol tha going concem basis of accounllng In th8 preparation ol thè Ilnancial slalemenls is ap5Mopriale. Based on the woth we have pgrformgd. have not Identrfied any malwial unGertalnl8s r8l&ling lo events or conditions thal. Indlvldually or colleclivdy, may cast signilEcant doubl or) the ¢harlly's ability to continue as a golng conc8rn for a period ol al least twelva months from when the financl81 slateTnenls aro aulhorisgd lor Issuè. Our r8sponsibilitias and the reSpOnbIlItIeS ol Ihg Trustees wlh réspèct lo ng concern are doscrlbed In the relevant sections of Ihls report. Other Informatlon The Trus18es ar8 r8sponsibl8 for the other InfomialK)n. Th9 Othor information comprises the Snformation included In tho Annual Report, other than the financial slalements and our R8port ol the Independent Aud11ors Ihereon. Our opinion on the financial slalem8nls does not cover Ihg other Infomiation and. except lo th8 exient otherwlso explicllly slated in our r8port. W8 do not exprès8 any lom) of assurance conclusion Ihereon. In connection Mth our audll of the linancial stalemonts. our r8sponslblllty is to read th8 olher inlomiatlon and, In doing $0, conslder whether Ihe olhor information 15 materially inconsls1enl wlth the flnancial statéments or our knowledge oblalned In the audit or otherwis8 appears lo be maltsrially misslalod. If we identify such malerfal inconslstenclas or apparent materlal misstatements, we are rewired 10 d918rmi whelhor this gfves rfse lo Matla1 mi881alement In the financial slalernenls themselves. 11. basèd on the work we have perfomed, w8 conclud8 that Ih8re Is a malorial misstalomonl of this other inlormalion. wa are requlrgd to ropgrt Ihal lacl. Wa hav6 nothing lo report in Ihls regard. Page 17
Report ol thg Indepd*t Audltors to tho Truste98 01 The CoDk8 Charlly Matter$ on whlch we ore reqred to report by excoplion We have nothing lo report in respect of tho following matters there Iha Charilies (Accounts and Reports) Regulatior 2009 requirès us lo report to you il. in our opinlon.. the information glvèn in the Report of the Trust8es is Inconsislenl In any material r9spect 1h th8 flnancial slatemenls., or sufficient countIng words have noi been kepl., or the finarKial stalem8nls are not In agroemenl with the accounllng records and returns., or we have not recèived all the Inlomialii)n and explanations we requlro for our audit. Re8pon8lbllllles ol TYu8tees As exrrfa1rd mor& lully in Ihg Slalemenl of Truslegs, RgsponslLllllles. thè TNsle88 are re8ponsibl8 lor Ihe preparation ol the flnancial statements which ge a Iru8 and lair view, and forsuch inlernal conlrd a8 the Trustees dètermine is necessary to enable the preparallon of financlal statèments that are fr8e frorn matarial mi88lalemenl. whether duè lo fraud or error. In preparing the Ilnanclal statements, the Trustees are responsibl8 lor as88sslng the Charflls ablllly lo contlnuè as a going concem, discloslng. as applicable. fflallgrs ralatèd lo golng concern and using the going concam basls of accounting unless the Trustee8 either Intènd to liquidate the Charity or lo c8asB operatlons. or have no rgausli allemallve lo do so. Pauw 18
Report ol the Ind8peThJent Audllors to the Trus# of Thè Cooks Charlty Our re6ponslbilltles lor tho audlt of tho flnan¢lal $tatem•nts We have been appointed 88 auditors under Section 144 01 th8 Char1ti9s Acl 2011 and report In accordance wlh the A¢X and relevant regulations rnad9 or havlng 8flecl Ihereund8r. Our objactiV8s ar@ to obt8in reasonable assurance about whglher the flnancial stal8ments as a whole are Ire8 from material misslatemenl, whelh8r due to fraud or grror, and lo Issuè a Raporl of the Ind8pend8nt Audltors that Inclu(les our opinion. Fleasonablg assurance is 8 high level of assurance. tr1 Is not a guaranloo that an audit conducted in accordanc8 th ISAS IUKI will always dalect a malerfal misslalomgnl wh9n il exis18. Misstatements can arise from Iraud or error and are considered mal8rlal11. Individually or in lh8 aggragale. thay couI(J reasonably be expected to Inlluence the economlc declsion8 of users taken on the basls of thésé finala1 $taiements. The extent lo which our proceduras aro Cap8t8 ol d81ecling Irr8gulariliès. including fraud Is delalled below. We obtalnéd an unthrslanding of the legal and regulatory fram8works that ar8 applicable lo t Charlty and determined that the mosl signilicanl arg the Slalemenl ol R8commended Praclicg 'Accounllng and Roporting by Charillgs, {SORPI. In accordance wilh th8 Financial Raportg Standard applkable in the UK (FRS 1021 and the Chariligs Act 2011. We gained an understanding ol how the Chadly compli9d wlh ils logal and r8gulalory Framework, Including the r8quiremenl lo propwly account for reslri¢led funds. through discussions wlth management and a revlew ol th8 docurnenled pollcles, procedures and controls. The audlt team. whlch is experienced In th8 audit of ch8ri1188, consldered the Charity's suscepllblllly to material mlsslalem¢nl and how fraud may occur. Ow considerations include tho ilsk of rnanagemenl overrida. Our opproach was to ch8¢k Ihal the Incomo from donations and Inv8slwnen18 Were properly Identrfied and accurately disclosed, that expendilure compliod th the control procethr85 and was appropriately charged. We also revlewed joumal adjuslmenls and unusual translI0n8 lor managèment Ovgrridg and consldered the idgntifi¢alSon and dlsclosure ol r8lal8J party transactions. Thgra ara Inharant limilgtions In the audlt prc¢edures descrlbed above and, th8 further removed n0n.compl1ar wlih laws and regulations Is from the evonls and transactions reflectad in Ihe linanclal statémenis, thp less Ilkgly we would becomè aware of rf. The rfsk of not detecting a material misslateTnenl dLJa lo fraud Is hIgIr than the rlsk of nol delectlng one r8suttiny from error. as fraud May involv8 dellberalo concealment by. forexamplg, forgery or in19ntlonal ml$representalion8, or through collusion. A ftJrth8r drliOn ol our r8sponsibllilies lor the audll ol the linancial slalemenls Is located on the Fina181 R8POrting Council's websile al www.Irc.org.uklauditorsre8ponsibillti8s. This d8scriplion forms part ol our Report of tho IrKlgpendenl Auditors. V80 of our rwrt This report Is made solelyto the Chariivs Trusl8es. as a body. in accordance with Part 4 ofthè Charllles (Accounts and Reports) Regulatlons 2008. Our audll work has b8en undértaken so that we might stale lo Ihe Charity Truslggs those mallors wg are required 10 81ale lo them in an auditors, report and lor no olhei purpose. To the lullest exlenl per11ed by law, we do not 8CCePt or 8s$ume responslbility to anyone olhor than the Charity Ihe Charity'8 Twslees as a body, lor our audll work, for Ihls report. or lor the opinions we have formed. Knox Cropper LLP Charterod Accountants and Statutory Audllors 65 Leadenhall Slreet London EC3A 2AD Page 19
THE COOKS CHARrrY Statem1 of Flnanclal A¢Uvllle8 lor the Year Ended 80 JunB 2024 2024 Totsl funds 2023 Total lunds a8 restated Unrest(lOd fund R951rictsd fund Enilowmont funds Notes INCOME AND ENDowf&qEWts FROM Donations and legaci88 27,553 iooo 29.553 89.074 Investment ir0 Olhor Income 247.974 172 247,974 172 238.650 Totsl 275,699 000 277.699 327.724 EXPEN0uRE ON Raising funds 10.243 10,243 9,899 Charltable actlvitie8 Grantmaking 223,985 5,667 229,652 233.499 T¢)tal 243,398 Nel galnsl{lossesl on Inveslmonts 420,977 1176,5691 NET INCOMEI{EXPENDrruRE) Tran8fers betwe•n fundg 15 41,471 41,4n {3,667) 420,977 41.471 458,781 19a243 N•t mov•m•nt In lund8 (3.867) 462,446 458.781 192.2431 RECONCIUATION OF FUNDS Total fundj brought foNard As previously reported Prlor yoar adjuslmgnl 5,584.672 5,584,672 38.634 834 5.666,926 52,823 10 4,000 A$ restatsd 4,000 5.623.506 5,627.506 S,719,749 TOTAL FUNDS CARRIED FORWARD 333 6.085,954 6,oes,287 5.627,506 Th8 nofgs lorm part of these flnanclal 8tat8m8nts Pa 20
THE COOKS CHAFirrY Bahnce Shert 30 Jung 2024 2024 2023 as r8stat8d Notes FIXED ASSETS Investments 5,955.028 5,477,552 CURRENT ASSETS Debtors Cash al bank 12 75.180 122.454 143A82 143,682 197,634 CREDITORS Amounts falling due wlthin one year 13 (12,6231 147,6801 NEf CURRENT ASSETS 131259 149.954 TOTAL ASSETS LESS CURRENT LIABILITIES 6,086.287 S.627,5C NET ASSETS 6.086,287 5.627,X FUNDS 14eslricted funds Endowment fund8 15 333 8,08S 954 4,000 5,623,506 TOTAL FUNDS 6,086287 5,627,506 The flnanclal statements werg approwj by the Trust8•s and RLrthorfsed lor issug 3 April 2025 and wer8 8lgn8d on Ils bshall by. OHW Goodlnge (Chairl - TrL e8 The not&$ fomi part ol thas& fIn&rla1 slatemnts PaLB 21
THE COOKS CHAAITY Not98 to thg Flnanclal Stotements for thè Yèar Ended 30 June 2024 GENERAL INFORMATION Th8 Cooks Charlty is an unincorporated charity registered In England and Wala$, regi8tered nUMr 297913. Tho wgislered office is 3 Rock Lane. Warmlnster, Wlltshim, BA12 Z. ACCOUNTING POLICIES Basis of prèparlng the flnan¢lal 8tatsment8 The Nnancial ststemen18 of the Charily. which is a public ben8fft enlily under FRS 102, hav9 bggn prepared in accordance with Iha Charilles SORP IFRS 1021 'Accounting and Reporting by Chatfjlie8'. Stalemenl of Recommended Practke applicable lo charllles preparw)g their accounls Irb accordanca wth Ihe FlnarKial R8porling Standard 8pplicablg in the UK and Rgpublic of Ireland IFRS 1021 loffecive 1 January 20191., Financlal Reportlng Standard 102 The Financlal Reporting Standard appllcablè in Ihg UK and Rgpubllc of Ireland. and the Charitigs Act 2011. Th8 financial staiemènts have been prepared under the hi81orical cost convention. with the exception of Inves1ments whith are included at market valué, as modllled by the rgvaluation ol certain a8s81s. The Ilnanclal sta19menls have been praparad to giva a 'lrue and lalr, view and have dgparted from the GharflSgs (Accounts and Reports) Regulailons 2008 only lo the extent required to provide a'true and lai vlew. TFUS departur@ has Involved lollowlng Ihg Charities SORP IFRS 1021 published in oober 2019 rather than the Accounting and Reportlng by Charilles.. Slaleffl8nl ol Recommgnded Prl¢e elfecllve from 1 Aprll 2005 whlch has since been thdraWn. The Tw8tees consider Ihore ara no mat8rial Lmcert8lntles about Ihg Charitys abillty to conllnu& a8 a golr concgrn. Incom8 All income is recognlsed In the Stsl8wnent of Rnarbcial Aclivities once lh8 Charlly has anlillemgnl lo Ihe funds, 51 is probablg that tha income Mrill be received and the amount can ba m8asur8d reliably. For donations lo be recognlsed, the Charity will havg bggn nolifi'wj of the amounts and th8 sgtll8menl dats In wriilng. 11 there are conditlons altad)eil to the donation and this raquir8s a level ol performance before enllllemont can be obtained. thon Incoma Is d8lwred unlll those conditions gre lully mel or the fulfilment of Ihose condhlons is within the control Of the Charity and it is probable that thoy will be fulfilled. No amc4Jnt is included in the fffinanclal slatements for vohjnleer tlme In lin8 Wlth tha SORP {FRS 1021. Furthar delall Is glven In th& Trus19es' Annual R9PQrt. Investmgnl incowne is eam8d 1hrOu holdlng ass8ts for •iveslment purposès. such as shargs. 11 includ8s dividends and Inter881. Whère it is not praclicable lo Idenllfy Investment Magement costs incurr8d wlhin a scheme wth reasonable accuracy, tho invoslmenl incomo Is raport8d n8t of these costs. It is Includpd when amount can be m&asured reliably. Interest incom8 Is recognised using the effectivè interest method and dividend income is rscognisod a9 the Charfly's rtghl lo receive paymonl is establi8hed. Invgstmenl income S818ken Inio account when the incomo Is recelvable by the Charity. Th8 rÉcognlllon of Income from legacies is dgpendent on establishing ent1118m8nt. the probability of recelpt and the abSllly lo estlmate with sufficient accuracy the amount f8cefvable. Evldence ol enlillomonl la a legacy exists vthen the Charlty has suffici8nl evid8nce that a gift has left lo them (through knowledge of the existence ol a valid will and the death ol the benelactorl and the executor Is satlsliad that th8 property In qu8Stion will not be required lo satisfy claims in the eslale. Recgipt ol a legacy musl b8 recognised when it is probable that il vill be recelved and the lair value ol th8 amount rniable, which wlll generally bg the expected cash amount lo be d151rfbutgd lo the Charlly, can be rèllably n*asured. Page 22 contlnu8(L..
THE COOKS CHARITY Nol?$ to Hnancl&S Stat•monts. ¢ontknued for Ihe Year Ended 30 Juno 2024 ACCOUNTING POUCIES- continued Expgnditure Uabililies are recognised as exp8nditur8 a8 800n as thar8 is a legal or conslruclNe obligallon commitling the Charity to that gxpendllurg, It is probable that a transfer ol economlc benafits will b@ requlred in settlem8nt and the amount ol the obligation can be measured reliably. Expanditurè 18 accounted lor on an acoruals basis and has been classified undgr headlngs that aggregate all cost related lo the catory. Wherè costs cannot bg dlrectly attrfbuled lo partKular headings Ihey have tOn allocale(I lo tivItIeS on a basls consislenl with the use of r6sourcas. Grants payabla to third parbès are wlthln the charitable ObltIVes. Wh8re uncondliional grants Bre offered, this is accrued as soon as the r1plent Is notlfied ol the granl. as this 'Ve$ rise lo a reasonablg gxpgclallon that Ihe reoplenl will th8 grant. Wh8re grants are condilionaj rdallng lo perfomiance. then th8 grant is only ac¢rued when any unlulffilled conditions are ouiside of tha control of the Charily. Taxallon The Chority is exempl from t8x on Ils charitable actles. Fund aoUntIng Unrastrict8d funds can be used in accordance th tha charitable obl8ctlves at the dlscrellon of tho Trustees. Reslricted funds can only be u88d for particular r8Stricled puwoses within the obigcls of the Charlty. Restrictlons aris8 when sp8citi by the donor or when funds are rals6d for particular reslricted purposes. Furth8r explanation ol the nature and purpose ol each fund is InclLJ8d In th8 nol98 to tho financial stsl&ment$. Dobtor8 Trade and other debtors are recognised al the settlomgnt amounl due after any trade discounl offered. Pr8Pgymenls arè valuèd at the amount prepald nel of any Irade dlscounts du8. Cash at bank and In hand Cash bank and cash and short t8mi hlghly liquid investments with a short malurhy ol thTee months or lass Irom the dale of acqui8111on or openlng ol the deposll or slmllar account. Croditors and provl$lon$ Creditors a1 proviOn5 ale r0glsd whgre th8 Charity has 8 presenl obligallon resulting from a past event that will probabty reyjlt In thg transfèr ol funds to a third party and the amount due to satlle th8 obligalion can be measured or estimgled reliably. Cre(lors and provl4ons are normally reeogni3ed at I1r satllamont amounl aft8r allowlng for any trade dlscounls due. Pdgg 23 continuod...
THE COOKS CHARIPI Not99 to Flnanclal StOtement$- contknued Igr Ih? Yèar Endéd 30 JuTh0 2024 DONATIONS AND LEGACIES 2024 2023 8$ restated Donailon from Th6 Worshipful Company ol Cooks ol London Donallons from members ol Th8 Worshiplul Conwany ol Cooks of London LegacSes City & Guilds matched funding 68,060 19,035 8,516 2.(rf)O 17,814 3200 29.553 69,074 INVESTMENT INCOME 2024 2023 as restated Inveslm8nt income Dep051t accounl inleresl 246,288 236,404 2,246 247.974 238.650 RAISING FUNDS Investment management CO8t8 2024 2023 as r8sl8t9d Inv8Stm8nl managemènt lees 10,243 9.899 GRANTS PAY ABLE 2024 2023 a6 r8stsiad Granlmaking 219.893 218.961 Full datalls of granlmaking arg shown In Ihe Report of the Truslee8. Paw 24 eontinued...
THE COOKS CHARITY Note6 to Ihe Flnenclal St•tgments - contknu¢d for th• Yr End•d 3D June 2D24 SUPPORT COSTS Govemance osts Flnancè Tota GranlmBking 449 9,310 9,759 Supporl costs, iluded In thè above. arg as follows: 2024 2023 as r8stai8 Total aclthrttl8S GrantmakAng Bank charges Subscriptions Audilors, remuneration Auditors, ramun8ration for non-audil work Sundri88 145 304 9.160 188 12.4fKI 2.000 150 9,759 14.538 TRUSTEES, REMUNERAnoN AND BENEFITS There were no Trustees, reThwngralion or olher b8nellts for the year gndgd 30 June 2024 nor lor the year ended 30 JLe 2023. Tru8tet8' expen80S Th8r8 were no Trust&s' gxpgnses pald by Ihe Charlty for Ihe year ended 30 June 2024 nor lor thè y8ar ended X) Jun8 2023 but from tlm8 to tim8 modest expenses of th9 Trustses are paid by th8 Wsh1[rful Company of Cook$. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restrkt fund lund Endowment fdS Total funds as r8stal8d INCOME AND ENDOWMENTS FROM Donations and legaaes 85.874 3,2 89,074 Inveslm9nl income 238,650 238 650 Total 324.$24 3.200 327,724 EXPENDITURE ON Raising funds 9,899 9,899 Charltablè activltles Grantmaking 225.499 8,000 233,499 Totsl 235,398 8,000 243,398 Paga 25 contlnuod...
THE COOKS CHAAir( Nots$ to thè Flnanclal Statements- wlU•d for the Yeor Endgd 30June 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- contlnued UnreslJicted fiestted EndDWrn8nt lund fund lunds Total funds as reslaled Not gns/(lo$s9$I on Snveslmen18 NET INCOMEI(EXPENDiniRE) Transfers between lund8 89.126 89.126 14,800) 1176.5691 192,243) Net mov•m•nt In funds {4.8001 187,4431 {92.2431 RECONCILIATION OF FUNDS Tolal lund8 brought lorward As pr8vSousty reported Prior year adjustment 5.686,926 44,023 5.666,926 52,823 8,800 As r•stAt8d 8,800 5,710.949 5,719,749 TOTAL FUNDS CARRIED FORWARD 4,OOD 5,623,506 s,e27.506 10. PRIOR YEAR ADJUSTMENT The88 Ilnanclal st&lgmen18 InCOorate prior year adjustmen18 In resrttt of Ihe lollowng- The linanclal stateTll8nts prevlously overslat8d credllors for grants payable whlch wèrè not outstandlng. The financial statements hav8 bÈ8n restated to reduce ¢r8dhors by £45.450 at 30 June 2022 and £45.450 al 30 Jun8 2023. The linanclal statemenls prevlously not record IhB r8strict8d fund in respocl ol Clly & Guild5 Matchgd Fundlng. The financial stalamgnts hav8 been Testated lo restrlcled funds brought loard al 30 June 2022 of £8,800 matched by a reduction in endowment fuThJs. Donation Incomè for Ihe year Ènded 30 June 2023 of £3,200 ha8 b80n rgclassili8d from unrestricted to rgslricled while t8,000 ol grant expenditu has beon recl8ssiliéd from unrostricted lo reslrfcled. Athjitionally, IOme and expandilure for that year have been reduced by £3,200. At 30 June 2023. Ihe reslrfcled fund Amounted lo £4,000 matched by a reducllon in endowment ld$ ol the same amount. Th8 flnancS8l siatemenis previously dld not reflecl th8 accru8d investment managomerst le&s as at thè y8ar end date. The Ilnanclal stalomenls havo ba8n r8slated to reflect adOnal accrued 8xp8ns8s of £2,525 al 30 Juno 2022 and £2,419 at 30 June 2023. As a result ol tha above nel assets and funds al 30 June 2022 incr80sed from £5,686,926 to £5.709,851. The re8uII for the year ended 30 June 2023 decreased from net expencliture ol £182,253) lo net eXndItUre 01 £(92,2441- Nel assets and funds al 30 Jung 2023 increasad from £5,584,674 to £5.627.506. Pag8 26 ¢ontJnued...
THE COOKS CHARITY Not•8 to Iho Flnonclal Ststwngnts- contlnued for thè Year EThJ8d 30 Jun•2024 11. FIXED ASSET TrIVEsTMErs Lted investlnents MARKET VALVE At 1 July 2028 Additions Dlsposals Flevaluallons Exchanga thff8r8ne88 ,477.552 59,500 {5.5891 420.940 2.825 At 30 June 2024 NET BOOK VALUE AI 30 June 2Q4 6,95S,028 At 30 Jun8 2023 5,477.552 There were no Inv8slmenl ass81s wlskle thè UK The balance at 30 ne comprises Ihg follong. 2024 2023 as reSld Inve81ments Cash 5.951.891 3,137 5.477.040 512 5,955.028 5.477.552 Tha carrylng amouni ol financial assets measured al fair valu8 thTwgh income axpgndilure wilhln Inveslmenls19 £5,951.891 {2023: £5.477.0401. Irwe8tmenls have a historic C081 al 30 June 2024 of e4.639.063 {2023: £4,584,299). 11 DEBTORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2024 2023 as rgstat8d Other deblo Amount owgd by WCC 67.S40 7,640 75,180 Pa 27 conb"nued,..
THE COOKS CHARITY Notes to thB Flnan¢lal Slatemenl•- ¢ontlnu8d for the Y8ar Ended 30 Juno 2024 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 as r85tated Othgr cr8ditors 47,880 14. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2023 as r88taied Total funds Unrestrtctod fund R88trict8d lund Endowtn8ni funds Total funds Investments Current assets Current Uabilllies 5,955,028 130,926 &955.QB 143,882 12,623) 5,477,552 197,634 147,6801 12.623 {12,623 333 333 6.085.954 6.086,287 5.627.506 15. MOVEMENT IN FUNDS Prfior year adjustnI Net ovemnl in fvnds Transfers batWè8n funds At 30.6.24 At 1.7.23 Unre8trlcted funds Gènèral fund 41.471 {41.471) Restricted lund$ City & Gullds Matched Funding 4,1)00 (3.667} 333 Endowment fund8 Cooks Pebanent Endowm8nl Expendable ElowMent 4.930,009 654,664 (3&236) 77,070 420.977 5.312.749 779.205 41.471 5 584 672 38.834 420,977 6,065 954 TOTAL FUNDS 5,564.672 458,781 6,086,287 Page 28 contlnued...
THE COOKS CHARITY NolB6 to the Flnanckl Slat¢men¢8- contlnued for lh• Y•ar Endad 30 Jun8 2024 15. MOVEMENT IN FUNDS . contlnued Net movement In fvnds, Includ1 in Ihe above ara as follows: ItKornlng rasourc&s Resouices ewended Galns and Ioss8S Movemgnt In funds unrestr1¢t fundg Ganeral fijnd 27&699 (234.228) 41,4n Re$trl¢tsd funds Gily & Guilds Matched Fundng 000 (5,66n 13,667) Endowment fund8 Cooks Pem)anenl Endowwnenl 420,977 420,977 TOTAL FUNDS 277.699 239,895 420.977 458.781 Comparative8 for mov•m•nt in fund8 Prfor yoar adjustrn8nl Not MonI in funds Transfers betr8n lunds At 30.6. At 1.7.22 Unrestricted funds Genoral lund 89,128 189,1261 Ro8trictsd lunds City & Gultls Match&d Funding 8.800 {4,8001 4.000 Endowm8nt funds Cooks Pemanenl Endowment Expend&Jlg Entk)wm8ni 5.¢X8.341 1176.5691 4,891.772 731,734 44,023 5,666,926 176.569 89.126 5,623,506 TOTAL FUNDS 5,666,92fj 92.2431 Pago 29 conllnued...
THE COOKS CHARITY Notes to Iho Flnanclal Ststsments- contlnued lry th¢ Year Ended ao Juno 2024 15. MOVEMENT IN FUNDS- connud Comparallva net moveFn8nt in lund5. includgd irb th8 above are a8 follows- Inconlng resources R&ource8 Bxp8nd8d G81n8 and sse8 Movemgnt In funds Unrestrfcted funds General fund 324,S24 1235,3981 89,126 Rastrict•d funds City & Gullds Matched Funding 3,200 18,0001 14.800) EndoY•ment fund8 Cooks Pamianenl Endowment 1176,5691 1176,569 TOTAL FUNDS 327,724 243.3981 176,5691 92 2431 16. RELATED PARTY DISCLOSURES The WorshiplLI Company ol Cooks in London Is a relalod party. by virtug of SIS right lo appoint the Charity's trust8&s, supplwng certaln seNicès to the Gharlly. as described in the Report of thé Trust88S. During the ar, the Charity re¢elvgd donotlons of £N11123.. £68,060) from Iha Worshlpful Company ol Cooks In London. Al the year and, no amounis wgra owad lo or from the Worshipful Company of Cooks in London.
THE COOKS CHARITY Delalled Slatemwt ol Flnanclal Acilvltl forth8 Ygar Ended 30 June2024 2024 2023 as rest8ted INCOME AND ENDOWMENTS Donatlons and legacle8 Donation from The Worshipful Gompany ol Cooks of London Donations from mernb8rs of The Worshipful Company ol Cook8 ol London Legaci8s Clly & GuSld8 matched lundlng 68,060 19,035 816 2,000 17,814 3,200 29,553 89,074 Invg8tmont income Investment Income Deposit account Intere81 246288 1086 236.404 2,246 247,974 238,650 other Incom• Olher 172 Total Incoming r•aoure•• 277,699 327.724 EXPENDITURE Invgstmant management ¢08ts Inves1ment manag&menl le9S 10.243 9.899 Chr*ltable activitle8 GrRnts to instiludon8 219.893 218,981 Flnan¢o Bank charg88 Subsctlpllons 145 138 449 138 Govemance costs Audltors, remun8ralion Carried ltsrnard 9,160 9,160 12,4(M) 12,4 This pagè do¢$ not form part ol Ihe statutory Iln&ncLg1 slatem&nts P890 31
THE COOKS CHARI Detalled StstBm8nl of Flnanclal Actlvltlo8 for th6 Y•w End•d 30 Jun• 2024 2024 223 08 restated Governance co8t8 Broughl foard Auditors, remuneration lor non-audil worf Sundritts 9,100 12,400 2,000 150 14.4QO Total rgsources expended 239 895 243,398 Not Income belore galng •nd108se8 37.804 84.326 Investmènt gBln# and 10s8e8 Realisod galnsl{1058e81 on Ilx6d asset Inveslmgnts Unrealisad gain8111ossas) on lixed asset inV6Stments 37 {5321 420.940 1176.03n Mat IncOm•l(exndItUre) 456 741 92.2431 Thls pagg does not lorffl part ol th8 statutory fknarKlal stalements pa ¥2