THOMAS CARPENTER'S TRUST
(REGISTERED CHARITY NUMBER 312155)
ACCOUNTS
FOR THE YEAR ENDED 30TH JUNE 2024

THOMAS CARPENTER'S TRUST
OFFICERS AND ADVISER5
FOR THE YEAR ENDED 30TH JUNE 2024
Trustee5
Alderman Slr William Anthony Bowater Russell (chairman)
Alderman Alexander Robertson Martin Barr
Revd. George Raymond Bush (resigned 13 February 2024)
Michael Norman Evans
Sarah Mann
Melanie Peters
Angus James R05S
Caroline Wilma Haines {appointed 18 July 2024)
Secretary to the Trustees
Lieutenant Colonel Richard Martin MBE
(resigned 15 October 20231
Nicholas Westgarth (appointed 15 October 20231
Admlnlstrative Office
St Margaret's Church
Lothbury
London, EC2R 7HH
Registered Charlty Number
312155
Bankers
National Westminster Bank plc
P.O.Box 411
34 Henrietta Street
London, WC2E 8NN
Independent Examiner
Michael T Morton FCA
MB Associates
Tax Consultant5
Hamilton House
l Temple Avenue
London EC4Y OHA

THOMAS CARPENTER'S TRUST
CONTENTS
FQR THE YEAR ENDED 30TH JUNE 2023
Pa
Report of the Trustees
Certification and Statement of the Responsibilities
of the Trustees
Independent Examiner's Report
Balance Sheet
Statement of Financial Activltles
Schedule of Investments and Income Received
Grant5
Accounting Policies and Notes

THOMAS CARPENTER'S TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30TH JUNE 2024
The Trust cornprises the Educational & Apprenticing Foundation, registered
number 312155, and the Trustee5 are empowered to make educational grants to
suitably qualified persons under the regulations laid down in the principal scheme
of 1909 as amended from time to time by the Charity Commlssioners.
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
activities 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 incomin8
resources. The investment policy is to seek to achieve a reasonable balance between
the need to provide primarily for future increases in expenditure and, so far as is
practical, the need to protect the capital base. There have been no direct fundraising
activities in the year.
The principal risk identified by the Trustees is to the Trust's income and Investments.
The Trust's investments are reviewed by the Trustees on a regular (6 monthly) basis
to ensure that provision of income for the operation of the charity is balanced by the
maintenance of the value of the capltal.
During the year to 30th June 2024 the Trustees were able to make grants to 15
students {2022-23 . 14) under the Educational & Apprenticing Foundation amounting
to £47,054 (2022-23: £41,300). The resulting deficit of income compared with
expenditure amounting to £3,476 was deducted from the Accumulated Income account
leaving a balance to be carried forward of £43,019
Over the year the Capital funds of the Trust rose by £137,449 to show a market value of
£1,605,232.00
Signed on behalf of the Trustees on 25th February 2025:
.Sir Willia m Russell
Chairman of the Trustees
.Nicholas Westgarth (Authorised to Sl8nl
Secretary and Treasurer

THOMAS CARPENTER'S TRUST
CERTIFICATION OF THE TRUSTEES
FOR THE YEAR ENDED 30TH JUNE 2024
We certify that the books, voucher5 and information produced to the
Independent Examiner, from which the attached accounts have been prepared,
contain a full and correct record of the Charity's transactions to the best of our
knowledge and belief.
.Sir William Russell
Chairman of the Trustees
.Nicholas Westgarth
Secretary and Treasurer
Dated . 25th February 2025
THOMAS CARPENTER'S TRUST
STATEMENT OF THE RESPONSIBILITIES OF THE TRUSTEES
FOR THE YEAR ENDED 30TH JUNE 2024
The Trustee5 are required to prepare financial statements for each financial year
whlch give a true and fair view of the state of the affair5 of the Trust as at the end
of the financial year and of the surplus or deficit, and total recogni5ed gains and
losses of the Trust for that year.
The Trustee5 confirm that appropriate accounting policies have been used and
applied con515tently, and reasonable and prudent judgements and estimates have
been made in the preparation of the financial statements for the year ended 30th.
June 2024. The Trustee5 also confirm that applicable accounting Standards have
been followed. The Trustees confirm that assets are available and adequate
to fulfil the obligation5 of the Charity.
The Trustees are responsible for maintaining adequate records and data protection,
for safeguarding the assets of the Trust and for taking 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 applicable in the UK and Republic of Ireland {FRS102} effective l January
2019. They are also responsible for takin8 reasonable Steps for the prevention and
detection of fraud and other irregularities.

THOMAS CARPENTER'S TRUST
REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES
FOR THE YEAR ENDED 30TH JUNE 2024
I report on the accounts of the Trust for the year ended 30th June 2024 which are
set out on pages 5 to 9.
Respectlve Responsibilities of the Trustees and the Examiner
The Charity's Trustees are responsible forthe preparation of the accounts. The
Charity's Trustees consider that an audit is not required forthis year under Section
144121 of the Charities 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 procedures laid down in the General Directions given bv
the Charity Commissioners under section 145 {5}Ib} of the 2011 Act; and
to state 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 Directions given by
the Charity Commissioners. An examination includes a review of the accounting
records kept by the Charity and a comparison of the accounts presented with those
records. It also includes consideration of any unusual items or disclosures in the
accounts, and the seeking of explanation from you as trustees concerning any
matter5. The procedures undertaken do not provide all the evidence that would be
required in an audit and. consequently. no opinion is given 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.

THOMAS CARPENTER'S TRUST
REPQRT OFTHE INDEPENDENT EXAMINER TO THE TRUSTEES
FOR TME YEAR ENDED 30TH JUNE 2024 (contlnued)
Independent Examiner's Statement
In connection with my examination. no matter has come to my attention .
which gives me reasonable cause to believe that, in any materlal respect,
the requirements:
a) to keep accounting records In a¢¢ordance with section 130 of the 2011
Act; and
b) to prepare accounts which accord with the accounting record5 and to
omply with the accounting requirements of the 2011 Act have not
been met ' or
to which, in my opinion, attention should be drawn in order to enable a
proper understanding of the accounts to be reached.
Michael T Morton FCA
MB Associates
Hamilton House
l Temple Avenue
London EC4Y OHA
Date . Ilth.February 2025

THOMAS CARPENTER'S TRUST
BALANCE SHEET
AS AT 30TH JUNE 2024
2024
2023
Quoted Investments
Market Value
Atj M Finn
1,605,232
1,467,783
1,605,232
1,467,783
Current Assets
Stockbroker's Balance
3,430
6,362
Bank Deposit Account
36,365
38,609
39,795
44,971
Sundry Creditors and Accruals
5,940
5,940
Net Current Assets
33,855
39,031
Total Assets le55 Llabllltles
1,639,087
1,506,814
Represented by:
Restricted Funds
1,596,068
1,460,319
Unrestrlcted Funds
43,019
46,495
1,639,087
1,506,814
The accounts were approved by the Board of Trustees on 13th February 2025
Sir William Russell
Chairman of the Trustees
Nicholas W
stgarth
Secretary and Treasurer

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THOMA5 CARPENTER'S TRUST
EDUCATIONALAPPRENTICING FOUNDATION FUND
SCHEDULE OF INVESTMENTS AND INCOME RECEIVED
FOR THE YEAR ENDED 30TH JUNE 2024
Book
Market
Cost
Value
£32,013
£172A68
£101.885
£121,164
£82,373
£67,770
£63,731
£61,219
£43,523
£118,860
4,608
£90.244
£35,589
£64.614
£29,678
£105,625
£16,889
£156,935
£62,175
£104,765
£34.965 £104,983
£47,294
£110,784
£43,421
£121,581
£6,61J) £120,693
Income
Recelved
£3,649
£2,048
£0
£2,547
£5,773
£4.432
£2,403
£4,000
£1,753
£5,332
£5,053
£5,046
£3,377
£560
Quantlty Name
14,230 Alliance Trust Ord 25p
43,6(K> Artemis Fund Marbagers Income Ins Inc unlts
56,950 Au8mentum FlnTech plc Ord GBPO.01
42,455 Black Rock Charities UK Bond
28,3LK) City of London Trust Ord 25p
31230 Dunedin Income Growth Old 25p
8,900 Edinburgh Investment Trust Ord 25p
12,500 Law Oebenture Ord 25p
41,738 Martin Currie Portfolio Ord 5p
18.775 Merchant Trust Ord 25p
12,250 Murray Income Trust Ord 25p
43,875 Murray International Trust Ord 25p
23,70D Scottish Amerfcan Inv ord 25p
13,650 Scottish Mort8a8e Inv Trust Ord 5p
32,250 Temple Bar Inv Trust Ord 5p
111
£75,864
£83.527
£3,160
£730,608 £1,605,232
£49,133
Investment Sales
Proceeds
C05t
Galn
£0

THOMAS CARPENTER'S TRUST
GRANTS MADE FROM THE EDUCATIONAL AND APPRENTICING FOUNDATION
FOR THE YEAR ENDED 30TH JUNE 2024
2023-24
2022-23
£0 £2,500.00
£3,500 £2,500.00
£3,000 £2,000.00
£1,085
£800.00
£529 £1,000.00
£3,500 £2.500.00
£3,500
£0.00
£3,500 £3,000.00
£0
£0.00
£3,500 £2,500.00
£3,500 £2,500.00
£7,000 £6,000.00
£6,500 £5,000.00
£4,500 £5,000.00
£0 £5,000.00
£1,430
£0.00
£1,000 £i,000.oo
£i,oio
£0.00
AD
AT
CE
cc
DH
EM
EN
KE
KG
SPCCT
RMI
RM2
TO
wc
WJ
wp
Total 15 Student
Grants12022-23: 14)
£47,054 £41,300.00

THOMAS CARPENTER'S TRusr
FOR THE YEAR ENDED 30TH JUNE 2024
NQTES TO THE ACCOUNTS
l Basls of Accountlng
The financi35 statements have been prepared in accordance with
applicable accounting standards and under the historical c05t convention
(with the exception of investments which are carried at market value).
They comply with the Trust Deed and the Charities Act 2011.
The recommendations presented in the Statement 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
posltion, reserves level and future plan5 gives Trustees confidence the
Trust remains a going concern for the foreseeable future.
4 Cash Flow Statement
The Trustees have not prepared a Cash Flow Statement In view of the
size of the funds.
S Creditors and Accruals
Creditors and Accruals at the accounting date were
Accountancy Fees
Secretary's Fees
Total
£1,440
£4,500
£5,940