THOMAS CARPENTER'S TRUST IREGISTERED CHARITY NUMBER 3121551 ACCOUNTS FOR THE YEAR ENDED 30TH JUNE 2022 THOMAS CARPENTER'S TRusr OFFICERS AND ADVISERS FOR THE YEAR ENDED 30TH JUNE 2022 Trustees Sir Michael Bery Savory {Chairman} Alderman Alexander Robertson Martin Barr Revd. George Raymond Bush Michael Norman Evans Sarah Mann Melanie Peters Angus Jame5 Ross Alderman Sir William Anthony Bowater Russell Secretary to the Trnstees Lieutenant Colonel Richard MartSn MBE Admlnlstrative Office St Margaret's Church Lothbury London, EC2R 7HH Registered Charity Number 312155 Bankers National westrnin￿er Bank plc P.O.Box411 34 Henrietta st￿et London, WC2E 8NN Independent Examiner Mithael T Morton FCA MB Associates Tax Consultants Hamilton House l Temple Avenue London EC4Y OHA THOMAS CARPENTER'S TRUST FOR THE YEAR ENDED 3(FtH JUNE 202Z Report of the Trustees Certlfication and Statement of the Responsibilities of the Trustees Independent Examiner's Report Balan￿ Sheet Statement of Financial Activities Schedule of Investrnents and Income Received Grants Accounting Policies and Notes THOMAS CARPEKtER'S TRUST REPORT OF THE TRUSfEES FOR THE YEAR ENDED 30Th JUNE 2022 The Trust comprises the Educational & Apprenticing Foundation. registered number 312155. and the Trustees are empowered to make educational grants to suitably qualified persons under the regulation5 laid down in the principal scheme of 1909 as amended from time to time by the Charity Commissioners. The Trustees have due regard to the Charity Commission public benefit guidance when exercising any power or duties to which it is relevant. Grants have been made to suitably qualified applicants for educational purposes as listed in this report. The artivities of the Trust are carried out for the public benefit as the grants awarded SUPPOrt education and training. The Trustees manage the investments as though it were a permanent endowment Invested to generate income. and normally fund operations from net Incoming resources. The investment policy is to seek to achieve a reasonable balance between the need to provide primarily for fvture increases in expenditure and. 50 far as is practical. the need to protect the capital base. The￿ have been no direct fundrdising artivitles In the year. The pricipal risk identilled by the Trustees is to the Trust's income and investments. The TnJst's investments are reviewed by the Trustees on a regular16 monthly) basis to ensure that provision of income for the operatlon of the charlty is balanced by the malntenance of the value of the capital. Durin8 the year to 30th June 2022 the Trustees were able to make grants to 12 students12020-21 '. 181 under the Educational & Apprenticin8 Foundation amounting to £32.500. The resulting excess of income over expenditure arnounting to £9,216 was added to the Accumulated Income account, leaving a surplus to be carried forward of £43,553. Over the year the Capital funds of the Trust, after allowing for sales and purchases. fell by £224.260 to show a market value at the accounting date of £1,416,583. Signed on behalf of the Trustees on 19th January 2023: .Sir Michael Savory Chèirn)an of the Trustees ..Richard Martin MBE (Authorised to sign) Secretary and Treasurer THOMAS CARPEKfER'S TRusr CERTIFICATION OFTHE TRU5tEES FOR THE YEAR ENDED 30Th JUNE 2022 We certify that the books, vouchers and inforn)ation produced to the Independent Exarniner, from which the attached accounts have been prepared, contain a full and corrert record of the Charity's trnnsactions to the best of our knowledge and belief. ..Sir Michael Savory Chairman of the Trustees ..Lieutenant Colonel Richard Martin MBE Se¢￿tary and Treasurer Dated . 19 January 2023 THOMAS CARPENTER'STRUST STATEMENT OF THE RESPONS181LmES OF THE TRUSfEES FOR THE YEAR ENDED 30Th JUNE 2022 The Tnjstees are required to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the Trust as at the end of the financial year and of the surplus or deficit, and total recognised gains and 1055es of the Trust for that year. The Trustees confirm that appropriate accounting policies have been used and applied consistently, and reasonable and prudent judgements and estimate5 have been made in the preparation of the financial statements forthe year ended 30th. June 2022. The Trustees also confimi that applicable accounting standards have been followed. The Trustees confirrn that assets are available and adequate to fulfil the obligation5 of the Charity. The Trustees are responsible for maintaining adequate records and data protertion, for safeguarding the assets of the Trust and fortsking reasonable steps to ensure financial statements comply with the Trust Deed. the Charities Act 2011. Accounting and Reporting by Charities- Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applitsble in the UK and Republic of Ireland {F￿£102) effective l January 2019. They are also responsible for taki￿ reasonable steps forthe prevention and detection of fraud and other irregularittes. THOMAS CARPENTER'S TRUST REPORT OF THE INDEPENDENT EXAMINER TO THE TRusfEES FOR THE YEAR ENDED 30TH JUNE 2022 I report on the accounts of the Trust for the year ended 30th June 2022 which are set out on pages 5 to 9. Re5pertive Responslbllitles of the Trustees and the Examlner The Charty's Trustees are responsible for the preparation of the accounts. The Charity's Trustees consider that an audit is not required for this year under Settion 144121 of the Charities Act 2011 Ithe 2011 act) and that an independent examination 15 needed. It is my responsibility to examine the accounts under section 145 of the 2011 Act . to follow the procedures laid down in the General Directions glven by the Charity Commissioners under section 14515llbl of the 2011 Act: and to stste whether particular matters have come to my attention Basls of the Independent Examlner's Report My examination was carried-out in accordance with the General Dlrectlons given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Charty and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disc105ures in the accounts. and the seeking of explanation from you as trustees concerning any matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, no opinion is gNen as to whether the accounts present a "true and fair view. and the report is limited to those matters set-out in the statement below. REPORT OFTHE INDEPENDENT EXAMINER TOTHE TRUSTEES FOR THE YEAR ENDED 30TH JUNE 2022 {continued) Independent Examinerfs Statement In connection with my examination, no matter has come tt> my attention . which gives me reasonable cause to believe tha¢ in any material respert. the requirernents". a) to keep accounting records In accordance wrf(h section 130 of the 2011 Act . and bl to prepare accounts which accord with the accounting record5 and to comply with the accounting requirements of the 2011 Att have not been met; or to which, in my opinlon, attention should be drawn in orderto enable ¥ proper understsnding of the accounts to be reached. Michael T PAorto"nTCA MB Assoaates Ham51ton House l Temple Avenue London EC4Y OHA Date: 25th November 2022 THOMAS CARPENTER'S TRUST BALANCE SHEET AS AT 30Th JUNE 2022 2022 2021 Quoted Investments Market Value AtJMFinn At BlackRo¢k 1,423,984 1,647.615 1.355.655 68,329 1,567,846 79.769 Stockbroker'5 Balance 5.226 4.143 Bank Dep051t Account 37.016 27.622 42,242 31.765 Sundry Credltors and AffTuals 4,2 Net Current Assets 36.152 27.565 Totsl A%ets less Llabllftles 1,460,136 1.6?5,180 Represented by: Restrlrted Funds 1.416,583 1,640,843 UnTestrlcted Funds 43.553 34,337 1,460,136 1,675,180 The accounts were approved by the Board ofTrustees on 19th January 2023. Sir Mic Savo Chalrman of the Trustees artin MBE Seuetary and T￿a￿reT u¥ o > 000 rp) 0008-888 ¢D oth o o) 0￿W Jthoo ODOO ) o THOMAS CARPEKfER'S TRusr EDUCATIONAL APPREPfflCING FOUNDATION FUND SCHEDULE OF INVE5fMEP￿5 AND INCOME RECEIVED FOR THE YEAR ENDED 30Th JUNE 2022 Market C1>5t Value £32,013 £128,639 £101,885 £102,320 £82.373 £59.370 £63,731 £68,329 £43,523 £113.342 £54.608 £87,988 £35,589 £53,133 Income Received £3,038 £4,427 £0 £2,547 £5,490 £3,555 £2,586 Quantlty Name 14.230 Alliance TnJ5t Ord 25p 43,600 Artemis Fund Managers Income Ins Inc units 56,950 Augmentum FinTeth pk Ord GBPO.01 42,453 Charinco Units 28,300 City of London Trust Ord 25p 32,230 Dunedin Income Growth Ord 25p 8,900 Edinburgh Investment Trust Ord 25p Eiii 47,141 Invesco Ord 25p 12,500 Law Debenture Ord 25p 41,738 Martin Currie Portfolio Ord 5p 18,775 Merchant Trust Ord 25p 12,250 Murray Income Trust Ord 25p 8,775 Murray Intematlonal Trust Ord 25p 23.700 Scott15h American Inv ord 25p 13,650 Scottish Mortgage Inv Trust Ord 5p £55,326 £75,426 £29,678 £95,CiKJ £16,889 £121.040 £62,175 £101.573 £34,965 £101,920 £47,294 £108.284 £43.421 £109.968 £6,6CX) £97,652 £3,159 £3,625 £1,753 £5,126 £4,226 £4,331 £3,051 £733 £710,070 £1,423,984 £47,647 Investment Sales Proceeds Gain Scottlsh Mortgage Investment Trust Prd 5p É80.484 £3,553 £76,931 THOMAS CARPE￿rER's TRUST GRANTS MADE FROM THE EDUCATIONAL AND APPRENTICING FOUNDATION FOR THE YEAR ENDED 30TH JUNE 2022 2021-22 2021>21 £2,(￿).(￿) £2,(￿0.00 £1,000.00 £2,500.CKI £0. £2,5CM).C(J £2.OCQ.LYJ £2,000.00 £0.00 £0.00 £0. £2.000.IXI £0. £0. £5.000.fJ) £4.000.CI) £4.000. £3,500.(K) £2,000.00 £2.000.00 £500.00 £2,000.00 £2,¢XIo.00 £2,000.00 £2,(KlO.00 £1,500.00 £1,500.00 £2,000.00 £2,000.00 £2,000.00 £5,000.00 £2,000.00 £5,000.00 £2,000.00 £3,500.00 £3.000.ChJ AO AO HD IE ME NE RF OH AH EK GK JL SM spcs MR MR OT Total 12 Student Grants12020-21 . 181 £32,500.00 £42,000.00 THOMAS CARPEKfER'S TRusr FOR THE YEAR ENDED 30Th JUNE 2022 NOTESTO THE ACCOUNTS l Basis of Accounting The financial statements have been prepared in accordance with applicable accounting Standards and under the historical cost convention Iwith the exception of investments which are carried at market value). They comply with the Tnjst Deed and the Charities Act 2011. The recommendations presented in the Statemer¢t of Recommended Practice for"Accounting and Reporting by Charities" {revised 20141 published by the Charity Commission for England and Wales have been complied with. 2 Remuneratlon The Trustees received no personal remuneration or reimbursement of expenses during the period under review in their capacity as Trustees. 3 Going Concern The Trustees consider there are no material uncertainties about the Trust's ability to continue as a going concern. The review of our financial position, reserves level and future plans gives Trustees confidence the Trust remains a going concern for the foreseeable futu￿. 4 Cash Flow Ststemert The Trustees have not prepared a Cash Flow Ststement in view of the Size of the funds. S Creditors aDd Acuyals Creditors and Attruals at the accounting date were . Secretary's Fees Accountancy Fees Brokers Fees £4,500 £1,440 E150 Total £6.090