THOMAS CARPENTER'S TRUST
(REGISTERED CHARITY NUMBER 3121551
ACCOUNTS
FOR THE YEAR ENDED 30Th JUNE 2023

OFFICERS AND ADVISER5
FOR THE YEAR ENDED 311Th JUNE 2023
Tiustees
Slr Michael Berry Sa¥ory (Chairman
resigned July 20231
Aldemièn Sir William Anthony Bowater Russell
(Chairman. appointed July 20231
Aldeman ￿exander Robertson Martin Barr
Revd. George Raymond Bush
Michael Norman Evans
Sarah Mann
Melanle Peters
An8U5 James Ro55
Se¢retary to the Trustees
LieLrtenant Colonel Richard Martin M8E
(resigned 15 October 20231
Nlcholas Westgarth {appointed 15 Ortober 20231
Admlnlstratlve Office
St Margaret's Churth
Lothbury
London. EC2R 7HH
Reglstered Charlty Numljer 312155
Bankers
Natlonal Westminster Bank plc
P.O.Box 411
34 Henriett3 Street
London. WC2E 8NN
Independent Examlner
Mlchael T Morton FCA
MB Associates
Tax Consultants
Hamilton HOL
l Temple Avenue
London EC4Y OHA

FOR THE YEAR ENDED 3m JUNE 2023
Report of the Trustees
Certificatlon and Statement of the Responslbillties
of the Tnjstees
Independent Examiner's Report
Balance Sheet
Statement of Flnanaal Activltles
Schedule of Investments and Income Received
Grants
Accountlng Pollcles and Notes

THOMAS CARPENTER'S TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30Th JUNE 2023
The Trust comprises the Educatlonal & Apprenticin8 Foundation, registered
number 312155, and the Trustees are empowered to make educational grants to
suitably qualtfied persons under the regulattons laid down in the prlncipal scheme
of 1909 as amended from tirne to tlme by the Charlty Commissioners.
The Trustees have due regard to the Charlty Commlsslon publlc beneflt guidance
when exercising any power or dutie5 to which it Is relevant. Grants have been made
to sultably qualified appllcants for educational purposes a5 listed in this report. The
activities of the Trust are Carried out for the public benefit a5 the grants awarded
support education and tralning.
The Trustees manage the investments as thou8h It were a permanent endowment
Invested to generate Income, and nomially fund operations from net Incoming
sources. The Investment pollcy is to seek to achieve a re350nable balance between
the need to provlde primarily for future increases In expenditure and, so far as is
practical, the need to protect the capital base. There have been no direct fvndraising
activltles In the year.
The prlclpal rlsk Identrfled by the Trustees is to thÈ Trust's Income and investments.
The Trust's Investrnents are reviewed by the Trustees on a regular16 monthly) basls
to ensure that provision of Income for the operation of the charlty is balanced by the
malntenance of the value of the capltal.
Durlng the year to 30th June 2023 the Trustees were able to make grants to 14
5tudents12021-22 . 121 under the Educational & Apprenticin8 Foundatlon amountln8
to £41,3￿. The resultlng excess of income over exFenditure amounting to £2.942 was
added to the Accumulated Income account, leaving a surplus to be carrled
forward of £46.495. Over the year the Capital funds of the Trust, after allowln8 for
sales and purchases, rose by £43,736 to show a market value at the accountln8 date
of £1,460,319.
Signed on behalf of the Trustees on 13th Februèry 2024:
.Sir William Russell
Chairrnan of the Trustees
..Nltholas We5t8arth (Authorised to slgnl
Secretsry and Treasurer

THOMAS CARPENTER'S TRUST
CERTrHCAnoN OF THE TRUSTEES
FOR THE YEAR ENDED 30Th JUNE 2023
We certify that the books. vouchers and inforniatlon produced to the
Independent Examiner, from which the attached accwnts have been prepared,
¢ontain a full and correct record of the Charrvs transaction5 to the best of our
knowledge and bellef.
..Sir William Russell
Chalmian of the Trustees
.Nicholas West8arth
Secretary and Treasurer
Dated . 13 February 2024
THOMA5 CARPENTER'S TRU5r
STATEMENT OF THE RESPONSIBiunES OF THE TRUSTEES
FOR THE YEAR ENDED 30Th JUNE 2023
The Trustees are reqvlred to prepare finandal statements for each flnancial year
which give a true and fairview of the state of the affalrs of the Trust a5 at the end
of the financlal year and of the surplus or deficit. and totsl reco8nised gains and
1055es of the Trust for that year.
The Trustees Confirm that appropriate aCC￿nting policies have beèn used and
applied consistently, and ￿aSOnable and prudent Judgements and estimates have
been made in the preparation of the financial statements for the year ended 30th.
June 2023. The Trustees also confirm that applicable accounting standards have
been followed. The Trustees confirm that assets are available and adequate
to fulfll the obligations of the Charity.
The Trustees are responsible for maintainlng adequate records and dats protection.
for safeguardlng the assets of the Tntst and for takin8 reasonable steps to ensure
financial statements comply with the Trust t>eed, the Charitres Act 2011, Attounting
and Reporting by Charitiès: Ststoment of Recommended Practice appllcable to
charlties preparing their accounts in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland {FRS102) effective l January
2019. They are also responsible for taking reasonable steps for the prevention and
detertion of fraud and other irre8ularitie

THOMAS CARPENTER'S TRUST
REPORT OF THE INDEPEt4DENT EXAMINER TO THE TRUSTEES
FOR THE YEAR ENDED 30Th JUNE 2023
I report on the accounts of the Trust for the year ended 30th June 2023 which are
set out on pages 5 to 9.
Respectfve Responslbllltles of the Trustees and the Examlner
The Charity's Trustees are responsible for the preparation of the accounts. The
Charity's Trustees conslder that an audit is not required for this year under Section
144{2) of the Charlties Act 2011 (the 2011 act) and that an independent examination
Is needed.
It is my responsibility.
to examine the accounts under section 145 of the 2011 Act:
to follow the procedure5 laid down In the General Direttions given bv
the Charity Commissioners under Section 14515llb} of the 2011 Act: and
to state whether particular matters have come to my attention
Basls of the Independent Examlner's Report
My examinatlon was carried-out in accordance with the General Directions given by
the Charity Commlssioners. An examination includes a review of the accounting
records kept by the Charity and a comparison of the accounts presented with those
record5. It also includes consideration of any unusual items or disclosures in the
accounts, and the seeking of explanation from you as trustee5 concerning any
matters. The procedures undertaken do not provide all the evidence that would be
required in an audlt and, consequently, no opinion is gNen as to whether the
accounts present a "true and fair view. and the report Is Ilmited to those matters
set-out in the statement below.

REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEE5
FOR THE YEAR ENDED 30Th JUNE 2023 (tontlnuedl
Independent Examlr*s Statement
In connertion wSth my examlnatlon. no matter has come to my attentlon '.
which 8ives me reasonable cause to belleve that, In any materlal respect,
the requirements '.
8) to keep accountln8 records In accordan￿ wtth Section 130 of the 2011
Art,. and
bl to prepare accounts whSch accord with the accountlng records and to
compty with the accounting ￿quireMeTrts of the 2011 Act have not
been met ,' or
to which. in my opinion, attention should be drawn in order to enable a
proper understandlng of the accounts to be ￿ached.
Michael T Morton FCA
M8 A550clates
Hamilton House
l Temple Avenue
London EC4Y OHA
Date . 25th September 2023

THOMAS CARPEPItER'S TRUST
BALANCE SHEET
AS AT 30Th JUNE 2023
2023
2022
Quoted Investments
Market Value
AtJM Finn
At 8lackRock
1.467,783
1,423,984
1.467.783
1,355,655
68,329
Current Ass•ts
Stc¢kbroker's Balance
6.362
5,226
Bank Deposit Account
38.6iYJ
37,016
44,971
42,242
Sundry Credftors and Accn￿kn
Net Current Assets
39.031
36,152
Total Ass•ts less Llabllltl•s
1,506,814
1,460.136
Represented by .
Re5trfcted Funds
1,460,319
1,416,583
Unrestrlrted Funds
46.495
43,553
1.506,814
1.460,136
The accounts were approved by the Board of Trustee5 on 13th Febnjary 2024.
Sir William Russell
Chairman of the Trustees
Nicholas Westgart
Secretary and Treasurer

m li
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VXZS

THOMAS CARPENTER'S TRUST
EDUCATIONAL APPRENTICING FOUNDATION FUND
SCHEDULE OF INVESTMEPITS AND INCOME RECElliED
FOR THE YEAR ENDED 30Th JUNE 2023
Market
Value
£32.013 £143,438
£101,885
£11￿.384
£82,373
£56,722
£63,731
£59,254
£43.523 £112,351
£54,608
£91,211
£35.589
£56,871
Quantlty Nam•
14,230 Allian￿ Trust Ord 25p
43.600 Artemis Fund Managers Income Ins Inc untts
56,950 Augmentum FinTech plc Ord GBPO.01
42,453 Black Rock Charities UK 8ond
28,3th) City of London Trust Ord 25p
32,230 Dunedin Income Growth Ord 25p
8.900 Edlnburgh Investmerrt Trust Ord 25p
47,141 Investtj Selert Trust Equity Shares £0.01 Sold
12,500 Law Debenture Ord 25p
41.738 Martln Currle Portlollo Ord 5p
18,775 Merchant Trust Ord 25p
12,250 Murray Income Trust Ord 25p
43,875 Murray International Trust Ord 25p
23,7￿ Scottish American Inv ord 25p
13,650 Scottish Mortgage Inv Trust Ord Sp
32,250 Temple Bar Inv Trust Ord 5p
In¢om8
Recelved
£3,441
£4,371
£0
£2,547
£5,674
£4,222
£2,305
£2,190
£3,813
£1,753
£5,182
£4,410
£4,914
£3,287
£501
£1,548
£29,678
£95,875
E16.889 £146.083
£62,175
£99.507
£34,96S £102.533
£47,294 £111,442
£43,421 £123,714
£6,&XI
£90.964
£75.864
£71.434
£730,608 £1,467,783
£50,158
Investment Sales
Proceed5
Galn
47141 Invesco Ord 25p
£77,351
£55.327
£22,024

THOMAS CARPEPItER'S TRusr
GRANT5 MADE FROM THE EDUCATIONAL AND APPRENTlaNG FOUNDATION
FOR THE YEAR ENDED 30TH JUNE 2023
2022-23
2021-22
£2.5(Kl.i
£2,5(M).00
£2,OIJ).LKI
£800.00
£1,000.00
£2,5CK).
£O.(K)
£3,IXJo.00
£o.cM)
£2,500.IJ)
£2,5fyJ.(M)
£6,(KX).Q)
£5,0(X).00
£5.(M)O.I
£5,0(M).00
£i,(w.00
AO
AO
EC
cc
HD
ME
NE
RF
EK
GK
spcs
MR
MR
OT
Jw
£2,000.(X)
£2,CW.00
£1,000.00
£0.00
£0.
£2,500.00
£2,5(Ki.(M)
£2,000.00
£2,000.(X)
£0.00
£2,OCN).IX)
£5,000.00
£4,0(Y).00
£4,iJ)O.00
£3,5(Yl.
£0.00
Totsl 14 Student Grants (2021-22 ." 12)
£41,3￿.(M)
£32,51X).Iy)

THOMAS CARPEIITER'S TRUST
FOR THE YEAR ENDED 30TH JUNE 2023
NOTES TO THE ACCOUNT5
18asls of Ac¢ountin8
The financial statements have been prepared in accordance wit
applicable accounting standards and under the historical cost convention
Iwith the exception of Investments whith are carried at market value).
They comply with the Trust Deed and the Charities Act 2011.
The recommendations presented in the Statement of Recommended
Practlce for "Accountlng and Reporting by Charities" (revised 20141
publlshed by the Charity Commlssion for England and Wales have been
complled wrth.
2 Remufieration
The Trustees received no personal remuneration or relmbursement of
expenses durin8 the period under revlew In thèlr capacity ès Trustees.
3 Golng Conorn
The Trustees conslder there are no material uncertainties about the
Trust'5 ablllty to continue as a golng concern. The review of our financlal
position. reserves level and future plans gives Trustees confldence the
Trust remains a 8olng concern for the foreseeable future.
4 Cash Flow Statsment
The Trustees have not prepared a Cash Flow Ststement In vlew of the
size of the funds.
5 Credit(Ys and Accruals
Credltors and Accruals at the accountin8 date were .
Secretary's Fees
Accountancy Fees
Brokers Fees
£4.5(Xl
£1.440
£0
Totsl
£5.940