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2023-09-30-accounts

REGISTERED CHARITY NUMBER: 327681

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

THE CHARTERED ACCOUNTANTS' LIVERY CHARITY

THE CHARTERED ACCOUNTANTS' LIVERY CHARITY

CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 30 September 2023

Page
Administrative Details 1 to 2
Report of the Trustees 3 to 9
Independent Examiners Report 10
Statement of Financial Activities 11
Balance Sheet 12
Notes to the Financial Statements 13 to 25
Detailed Statement of Financial Activities 26
Thanks to Donors 27 to 28

THE CHARTERED ACCOUNTANTS' LIVERY CHARITY

ADMINISTRATIVE DETAILS

Status of the Charity

The Charity was constituted by Trust Deed on 14th January 1988 between the then Master and Senior Warden of the Worshipful Company of Chartered Accountants in England and Wales (‘The Chartered Accountants' Company’) and the Charity’s first Trustees. The Charity is registered at the Charity Commission for England and Wales.

Organisation and governance

The Court of The Chartered Accountants' Company appoints the Trustees. There must be no fewer than three and they must be Liverymen of The Chartered Accountants' Company. Unless the Court determines otherwise, two of the Trustees shall be the Master and the Almoner for the time being. In December 2021 the Court agreed that for 2021-22 Senior Warden Richard Green should be a Trustee in place of the Master. It is the present practice of the Court to appoint other Trustees, two of whom are Court Assistants and four of whom are not Court Assistants at the time of their appointment, for three year terms of office, renewable for one term. The Clerk to the Trustees manages the administration of the Charity and there are no employees. The Trustees normally meet four times a year. They may appoint Advisory Panels to assist them with tasks; at least one Panel member must be a Trustee.

Objects

The legal Objects of the Charity are widely drawn to support general charitable purposes, as follows:

The relief of poverty throughout the world; the advancement of education throughout the world; the advancement of religion throughout the world; and such other charitable purposes anywhere in the world as are for the benefit of the United Kingdom community.

Within these Objects, broadly speaking, the Trustees tend to support (in no particular order):

Public benefit statement

As trustees of a Public Benefit Entity, the Trustees confirm that we have referred to and complied with the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives, in planning future activities, and when setting the grant making policy for the year.

Powers

As Trustees we are not restricted in our investment powers.

Page 1

THE CHARTERED ACCOUNTANTS' LIVERY CHARITY

Trustees

The Trustees during the year and up to the date of this report were:

Beverley Turner (appointed 25 October 2023) Kevin Parry (appointed 25 October 2023) David Matthews (appointed 25 October 2023) Peter Jenkins (appointed 25 October 2023) Sally O’Neill (appointed 25 October 2023) Neeraj Kapur Steve Maslin Sue Field (appointed 11 October 2022) David Watson (appointed 11 October 2022) Richard Green (retired 25 October 2023) Dr Hilary Lindsay (retired 25 October 2023) Miles Hedges (retired 11 October 2022) Sally Orton (retired 25 October 2023) Andrew Pianca (retired 11 October 2022) Martin Robinson (retired 25 October 2023)

Chairman and the Company’s Almoner The Company’s Master 2023-24 Court Assistant of the Company

Court Assistant of the Company

The Company’s Master 2022-23 Company’s Almoner Court Assistant of the Company Court Assistant of the Company Court Assistant of the company

The Clerk to the Trustees

Principal Office

Bankers

Investment Managers & Custodian Trustee

Independent Examiner

Clare Ferrar 30 The Avenue Welwyn Herts AL6 0PP Tel: 07939047845 e-mail: charity@accountantslivery.org Web: www.accountantslivery.org The Royal Bank of Scotland plc 62 - 63 Threadneedle Street London EC2R 8AH Quilter Cheviot Limited Senator House 85 Queen Victoria Street London EC4V 4AB Elizabeth Wicks ACA WMT Chartered Accountants 4 Beaconsfield Road St Albans Hertfordshire AL1 3RD

Registered in England & Wales Charity Number

327681

Page 2

THE CHARTERED ACCOUNTANTS’ LIVERY CHARITY

REPORT OF THE TRUSTEES for the year ended 30 September 2023

The Trustees present our report for the year ended 30 September 2023 together with the Charity’s financial statements. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's trust deed. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS102) (Second edition) in preparing the annual report and financial statements of the Charity.

THE CHARITY’S OBJECTS AND ITS RELATIONSHIP WITH THE CHARTERED ACCOUNTANTS’ COMPANY

The formal legal objects of the Charity are set out on page 1. The Charity is closely associated with The Chartered Accountants’ Company and virtually all its donation income is received directly or indirectly from present and past members of the Company.

The Trustees are an independent body, mindful of our duty as Trustees of a charity operating in the public interest, while always supportive of the objectives of the Company whose members provide the majority of the Charity’s funds. The Company’s practical objectives set out in its Mission Statement include giving back to society, directing members’ efforts and funds to relevant sustainable causes and communities and leveraging the skills and experience of its members. Delivery against the Company’s mission is the responsibility of the Company’s Master, Court and members. This separate Charity is a vehicle through which Company members can fulfil their financial obligations within the charitable mission. The Company’s Almoner and the Trustees are very aware of the Company’s and the Court’s objectives, but as Trustees think and act independently of them. We are aware that there are potential conflicts of interest and conflicts of loyalty in relation to our duties to the Charity and the Company and seek to avoid or manage those conflicts. The Trustees’ conduct is guided by the seven principles of the Charity Governance Code: organisational purpose; leadership; integrity; decision making, risk and control; board effectiveness; equality, diversity and inclusion; and openness and accountability. The Trustees recognise our duty to keep up to date with developments in charity law. We act appropriately in relation to any conflict of interest. New Trustees receive an appropriate induction, including a pack describing the activities of the Charity and Trustees' responsibilities.

FUNDRAISING

As stated, almost all the Charity’s donation income comes from Company members. When prospective Company members are interviewed, they learn that in normal circumstances Company members are expected to make an annual gift to this Charity which, before gift aid is added, is roughly equivalent to the annual quarterage payable to the Company. A lower contribution is expected from those members who are under 40.

The Charity has successfully accumulated an expendable endowment fund, currently in excess of £2 million, and increasing the charity’s impact will only be assured if this capital fund is increased substantially over time. Each year the Charity aims to distribute most of the annual donations from members plus the income generated from the existing capital fund. To extend our charitable support, and respond appropriately to the continuing and increasing demand from worthwhile causes, we recognise that we need to increase our capital fund to generate more income. To achieve this the Charity will increasingly rely on members’ generosity in capital donations and legacies. To aid this process, on 8[th] July 2021, the Trustees created a separate fund – to be known as The Cork Fund (named after Sir Kenneth Cork a founder member of the Livery Company who was Lord Mayor in 1978-79). The legacies and donations made to this Fund, although remaining part of the expendable endowment of the Charity, are intended to be retained as capital to generate income to supplement and increase the annual funds available for distribution. It is hoped that members will leave legacies and make one-off donations to the Cork Fund so that it becomes a significant part of the capital base for the Charity. To date over 30 members have expressed their intention to leave a legacy to the Charity.

Page 3

THE CHARTERED ACCOUNTANTS’ LIVERY CHARITY

REPORT OF THR TRUSTEES for the year ended 30 September 2023 (continued)

.

Company members have again been generous this year and, as a result, we received unrestricted donation income of £138,693. The comparable total figure from the previous year was £150,523.

GRANTS AWARDED

The Charity’s formal objects are set out on page 1. The details of all the recipients are included in the financial statements. This year we donated £175,025 (2022 - £185,676) broken down into the following categories:

The accounts number for grants of £170,542 includes a write back of funds of £4,483 awarded but not paid to 47 Squadron prior to it being disbanded.

Major project

The Trustees use a large proportion of the Charity's available funds each year to make a substantial impact in support of a major project, expecting to continue the support over three years, subject to the Trustees' decision each year based on reports received. The Panel convened to review the applications comprised Beverley Turner, Sue Field, Miles Hedges and Tim Roberts. We drew up a shortlist of six applicants whom we then visited. From that process we then chose two for the final presentations.

And the winner is …… BEYOND FOOD FOUNDATION.

The charity was established in 2009 and to date has supported over 7,000 people. It works in collaboration with PwC who own the Brigade + Bar Kitchen where all the training is done. We are offering funding for them to run two Freshlife programmes per year for 3 years offering 150 individuals the opportunity to get back into work, using food as the foothold to remove barriers that inhibit individuals from securing financial independence.

The Freshlife programme will include life-skill cooking, employability classes, introduction to hospitality, barista training as well as an immersive experience in hospitality. Food plays a crucial role in helping people to live healthier lives, stand on their own two feet and understand healthy life choice – both physically and mentally.

The success rates are impressive – 90% who complete the programme secure a City & Guilds Certificate. 86% progress into paid employment within 12 months.

Bursaries

It is important to our profession that teachers of accountancy in UK universities include Chartered Accountants. The Charity therefore provides bursaries to ICAEW Chartered Accountants pursuing Doctoral studies, thus assisting them to construct funding arrangements to enable them to study for post-graduate degrees in accountancy related topics, and hence to develop careers as teachers and researchers in UK universities. These bursaries are typically at about £5,000 per annum for those studying full-time, for a period of up to four years. Candidates are selected from applicants by a panel which includes Trustees and academic advisers, with considerable assistance from ICAEW. Currently there are three bursary or development grant recipients who were awarded in total £6,500.

Page 4

THE CHARTERED ACCOUNTANTS’ LIVERY CHARITY

REPORT OF THE TRUSTEES for the year ended 30 September 2023

Welfare funds of Military and Cadet affiliations

The Chartered Accountants’ Company is honoured to support Military and Cadet affiliations where there may be some financial support: The Honourable Artillery Company, Royal Marines Poole (The Special Boat Service), 47 Squadron Royal Air Force, The Royal Naval College Dartmouth, and HMTS Dundas (The Harrow and Wembley Sea Cadets). The Charity supports welfare funds of these units, which were awarded £2,500 in the year (2022 £11,000). Sadly, this year saw the decommissioning of Hercules and therefore 47 Squadron has been disbanded. We look forward to renewing our affiliation with 47 Squadron when the new aircraft are commissioned expected to be 2026.

Causes related to the City of London and its surrounding boroughs

The Charity supports a number of causes connected with the City of London and its surrounding boroughs. Most of these grants are of small sums, excepting those to The Lord Mayor’s Appeal and to Treloar’s School. Such causes were awarded £24,600 in the year (2022 £12,100). The biggest grant was £10,000 to City Harvest. City Harvest London is a charitable organisation focused on alleviating food insecurity and food waste across London. City Harvest feeds over 12,000 Londoners a day with quality, nutritious, surplus food from a myriad of food producers. City Harvest delivers food to over 350 organisations and projects in London.

Other grants

In addition to the above, the Trustees make a number of other grants each year, no more than £3,000. Some of these are to causes introduced by Company members, so involving Company members with the Charity and giving the Trustees some first-hand assurance about the recipients. Twenty five such grants totalling £64,625 (2022 17 grants £39,165) were awarded in the year, including £15,000 in total to the runner up and shortlisted Major Project Award applicants.

INVESTMENTS AND INVESTMENT OBJECTIVES

The Trustees, having regard to the advice of the Trust’s investment advisers, determine investment policies and have delegated discretionary authority to our advisers. Our present investment policy is to maintain the level of investment income (having regard to our commitment to fund grants), balanced with maintaining the growth of the portfolio at a medium risk level.

FINANCIAL REVIEW AND PERFORMANCE

The Charity's income for the year ended 30 September 2023 was £221,102 (2022 £235,925). Grants awarded decreased to £170,542 (2022 £185,676), in large part because 2022 included the Wave 3 Emergency Grants Programme of £29,911 and there was an add back of £4,483 for a grant to 47 Squadron.. Before investment gains, the Charity's surplus for 2023 was £20,641 (2022 surplus of £21,584).

Page 5

THE CHARTERED ACCOUNTANTS’ LIVERY CHARITY

REPORT OF THE TRUSTEES for the year ended 30 September 2023

FINANCIAL REVIEW AND PERFORMANCE (continued)

Net gains on investments in the year were £27,174 (2022 a loss of £350,512). The Trustees' principal benchmark is the MSCA WMA Private Investor Balanced Index. The portfolio out-performed this index during the period under review. Investment income was £79,825 (2022 £78,539). The portfolio is invested 71% in equities across the world (mostly in investment trusts) and 29% in fixed interest and alternative investments.

The net movement in Funds for the year was an increase of £47,815 (2022 a decrease of £328,688). The Charity’s investment portfolio stood at £2,060,228 as at 30 September 2023 (2022 £2,046,934). The investment portfolio is managed for the long term as the Charity has sufficient liquid funds.

The Charity continues to benefit from an interest free loan from The Chartered Accountants' Company which amounted to £70,000 at the year-end (2022 £70,000).

RESERVES POLICY

All of the endowment funds of £2,047,110 (2022 £2,020,609) held by the Trustees are held as an Expendable Endowment. It is the Trustees’ policy that, taking one year with another, over a period of time approximately 90% of the Charity’s donation, investment and other income less expenses should be distributed as grants, any unexpended balance being held as Unrestricted income funds.

The Charity’s Expendable Endowment is an investment fund held to generate income and ensure the stability of the grant making programme. This Expendable Endowment in accordance with the Trust Deed may be drawn in full or part to be used for the purpose of the Charity at the discretion of the Trustees. The Unrestricted Income funds of £120,237 (2022 £97,923) represent free reserves. The Trustees consider these reserves adequate at 30 September 2023. Both the policy and its implementation are under regular review. At 30 September 2023 there is a restricted fund of £1,500 which is being held for future contributions to the Livery Schools Link Opportunity Fund.

GOVERNANCE, COMMUNICATION AND PAN LIVERY INITIATIVES

A full review of all our governance processes was carried out in 2021 and this is now reviewed regularly. We were very sorry to be losing two very experienced and expert Trustees in Sally Orton and Martin Robinson, whose terms of office ended on 25th October 2023, and are very grateful to them for all they have done for the charity over the last six years. Identifying the skills and experience we were losing meant we were able to invite any Liverymen who thought they had relevant experience to apply to become Trustees. We were unable to decide between the excellent experience of both Sally O’Neill and Peter Jenkins as a new Liveryman trustee so we are delighted to announce that we appointed both to the Board. We also welcome David Matthews as a new Court member trustee.

One major change that also happened on 25[th] October was to say a sad farewell to Hilary Lindsay our outgoing Almoner. Hilary brought her great experience and organisation skills to the role and was instrumental in launching the Wave 1, 2 and 3 Covid grants which helped so many organisations in a time of crisis. We are delighted to welcome Beverley Turner to the post of Almoner. Beverley knows she has big shoes to fill but is also relishing the opportunity. All new appointments are for a three-year period commencing 25[th] October 2023.

Page 6

THE CHARTERED ACCOUNTANTS’ LIVERY CHARITY

REPORT OF THE TRUSTEES for the year ended 30 September 2023

GOVERNANCE, COMMUNICATION AND PAN LIVERY INITIATIVES (continued)

As mentioned earlier, the Trustees observe the principles in the Charity Governance Code. The final principle in the Charity Governance Code is Openness and Accountability. A key element within that is communicating effectively. Having shared ‘Belonging’ for so many years we are delighted that the charity now has its own newsletter called ‘Your Charity’. The first two publication were distributed in April and July 2023. The Charity newsletter will be published every few months letting members know about the grants made and how these have ‘Made a Difference’.

We know that the Major Project Award funding of £75,000 per annum for three years makes a massive difference and we were delighted that both Nicky Goulder, Founding Chief Executive of Create Arts, the last recipient of our Major Project Award, and Pars Purewal, Chairman of Beyond Food Foundation, the new recipient of the Major Project Award could attend the Mansion House Banquet in July when Beyond Food was announced as the ‘winner’ and share their experiences.

The Livery Charity Chairs Group (LCCG) was founded by our former Almoner Hilary Lindsay in 2021. It now has over 100 members from more than 90 Livery Companies and Guilds. The group provides an opportunity for charity chairs to share experiences and learn from each other through quarterly online workshops, an annual conference, informal drop-in sessions and a WhatsApp group. Our Trustees again agreed to underwrite and provide the banking facility for the LCCG second annual conference at Ironmongers’ Hall in June 2023, which was attended by over 70 delegates. In the event the conference broke even.

Recognising that more can be achieved when grant giving charities collaborate, last December LCCG launched the Livery Food Initiative. The aim is to raise funds from as many Livery charities as possible to support City Harvest over three years in their endeavours to rescue more food that would otherwise go to waste and deliver it to charities who can then use the food to provide meals for those in need. The Trustees were pleased to donate £10,000 towards the £200,000 raised in its first year from 50 Livery Companies. The money raised will enable a City Harvest van to deliver food for 2,500,000 meals over the three year period.

The Company has also joined and the Trustees have contributed to Pollinating London Together, a livery-wide initiative that is raising awareness of the importance of biodiversity and of pollinators, following their substantial recent decline. The aim is to create spaces, starting in the City of London, where all the natural pollinators can thrive, and their habitats can be enjoyed by everyone.

RISK MANAGEMENT

The Trustees regularly review the major strategic, financial, business and operational risks which the Charity faces. We have considered the vulnerability of the Charity to factors which could seriously impair its ability to achieve its objectives and have ensured that the Charity's systems enable these risks to be managed. The main income sources are donations, including Gift Aid tax recovery, and investment income. The ability of the Charity to make grants at the current level is dependent on members of The Chartered Accountants' Company continuing to maintain their level of giving and on the stability of investment income.

Page 7

THE CHARTERED ACCOUNTANTS’ LIVERY CHARITY

REPORT OF THE TRUSTEES

for the year ended 30 September 2023

FUTURE PLANS

The Trustees had a Strategy Day in October 2023 to consider plans for the forthcoming year. The Trustees felt strongly that a key objective of any grant we make is that it makes a difference to the organisation. We aim as a minimum to maintain the present levels of expenditure for the year to 30 September 2024 but to do this we do need our very generous members to carry on making donations to the Charity. We asked that our members review what they are giving and just see if they could give a little more. There are so many worthy causes who need help, and we would dearly like to help as many causes as possible.

We are continuing to promote the Cork Club, requesting members to consider leaving a legacy to the Charity in their wills. The specific wording for these bequests can be found on the Charity pages on the website.

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the Charity and of the incoming resources and application of resources of the Charity for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed. We are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT OF DISCLOSURE TO THE INDEPENDENT EXAMINER

As far as the Trustees know, there is no relevant information of which the independent examiner is unaware and they have taken all the steps they ought to have taken to make themselves aware of any relevant information and to establish that the independent examiner is aware of that information.

Page 8

THE CHARTERED ACCOUNTANTS’ LIVERY CHARITY

REPORT OF THE TRUSTEES For the year ended 30 September 2023

INDEPENDENT EXAMINER

The Company’s Court and the Charity’s Trustees are agreed that as a matter of policy it is sensible for the two organisations to appoint the same Independent Examiner. In 2020 WMT Chartered Accountants were appointed by Court and by the Trustees as Independent Examiner for both entities with effect from that year’s accounts.

ACKNOWLEDGEMENTS

The Trustees are grateful to all members of The Chartered Accountants' Company and others who have supported the Charity during the year. We are especially grateful to the new Freemen elected during the year who have enthusiastically chosen to contribute to the Charity and to members who have chosen to generously increase their level of giving. Our Charity is very fortunate that our members collectively are among the most generous across all Livery Companies. Company members and others who made financial contributions in the year are named on pages 26 and 27. Trustees hope that any Company members not making regular contributions to the Charity will consider doing so in future and would encourage Company members to consider leaving a legacy to the Cork Fund in their will.

The Trustees would like to thank Liveryman Joseph Gordon who quietly and very efficiently carries out a most valuable job by compiling a summary of grant applications received, for consideration by the Trustees.

The Trustees are also most grateful to Quilter Cheviot Limited for its care as discretionary manager of our invested funds.

On behalf of the Trustees

Beverley Turner

Chairman, Almoner of the Chartered Accountants’ Company 15 January 2024

Page 9

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CHARTERED ACCOUNTANTS' LIVERY CHARITY

Independent Examiner’s Report to the Trustees of The Chartered Accountants’ Livery Charity

I report to the trustees on my examination of the financial statements of The Chartered Accountants’ Livery Charity (‘the charity’) for the year ended 30 September 2023 which comprise the Statement of Financial Activities, the Balance Sheet and related notes.

This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Elizabeth Wicks ACA WMT Chartered Accountants 4 Beaconsfield Road St Albans Hertfordshire AL1 3RD Date:

.............................................

Page 10

THE CHARTERED ACCOUNTANTS' LIVERY CHARITY

STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 September 2023

Notes
INCOME AND
ENDOWMENTS FROM
Donations and legacies
Investment income
2
Total
EXPENDITURE ON
Raising funds
Charitable activities
Grants to institutes 3
Support costs 4
Total
Net gains/(losses) on investments
NET
INCOME/(EXPENDITURE)
RECONCILIATION OF
FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED
FORWARD		 Unrestricted
fund
£
138,693
81,609
220,302
8,938
168,742
20,981
198,661
673
22,314
97,923
120,237		 Restricted
funds
£
800
-
800
-
1,800
-
1,800
-
(1,000)
2,500
1,500		 Endowment
fund
£
-
-
-
-
-
-
-
26,501
26,501
2,020,609
2,047,110		 2023
Total
funds
£
139,493
81,609
221,102
8,938
170,542
20,981
200,461
27,174
47,815
2,121,032
2,168,847		 2022
Total
funds
£
157,273
78,652
235,925
9,730
185,676
18,935
214,341
(350,512)
(328,928)
2,449,960
2,121,032

Page 11

THE CHARTERED ACCOUNTANTS' LIVERY CHARITY

BALANCE SHEET 30 September 2023

Notes
FIXED ASSETS
Investments
7
CURRENT ASSETS
Debtors
8
Cash at bank
CREDITORS
Amounts falling due within one
year
9
NET CURRENT ASSETS
TOTAL ASSETS LESS
CURRENT LIABILITIES
NET ASSETS
FUNDS
10
Unrestricted funds
Restricted funds
Endowment funds
TOTAL FUNDS		 Unrestricted
fund
£
50,965
30,718
114,120
144,838
(75,566)
69,272
120,237
**120,237 **		 Restricted
funds
£
-
-
1,500
1,500
-
1,500
1,500
1,500		 Endowment
fund
£
2,009,263
-
37,847
37,847
-
37,847
2,047,110
2,047,110		 2023
Total
funds
£
2,060,228
30,718
153,467
184,185
(75,566)
108,619
2,168,847
2,168,847
120,237
1,500
2,047,110
2,168,847		 2022
Total
funds
£
2,046,934
33,296
131,661
164,957
(90,859)
74,098
2,121,032
2,121,032
97,923
2,500
2,020,609
2,121,032

The financial statements were approved by the Board of Trustees and authorised for issue on 15 January 2024 and were signed on its behalf by:

............................................. Beverley Turner Almoner

The notes form part of these financial statements

Page 12

THE CHARTERED ACCOUNTANTS' LIVERY CHARITY

NOTES TO THE FINANCIAL STATEMENTS for the year ended 30 September 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the '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 (FRS 102) (Second edition)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

The financial statements have been prepared to give a "true and fair" view and have departed from the Charities (Accounts and Reports) regulations 2008 only to the extent required to provide a "true and fair" view. This departure has involved following "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)(Second edition)" rather than the Accounting and Reporting by Charities; Statement of Recommended Practice effective from April 2005 which has since been withdrawn.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Donations are accounted for when received. Tax reclaimable in respect of Gift Aid is accounted for when the income giving rise to the claim is received.

Dividends are recognised once declared, normally upon notification by the investment advisor of the dividend yield of the investment portfolio. Interest on funds held on deposit is included when receivable normally upon notification by the bank.

Legacy income is recognised following the grant of probate and when sufficient information has been received to enable valuation of the Charity's entitlement.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants payable are payments to third parties in furtherance of the charitable objects of the Charity. A grant offer is accrued once agreed by the Trustees and the recipient has been advised of the amount awarded. Grants that are subject to the recipient fulfilling performance conditions are only accrued when the Trustees are satisfied that such conditions have been fulfilled and the recipient has been notified of the grant.

Support costs include those incurred in the day to day operation of the Charity and include statutory examination and legal fees. Irrecoverable VAT is charged against the expenditure heading for which it was incurred.

Taxation

The charity is exempt from tax on its charitable activities.

continued...

Page 13

THE CHARTERED ACCOUNTANTS' LIVERY CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2023

1. ACCOUNTING POLICIES - continued

Fund accounting

The Expendable Endowment represents funds principally accumulated during the first 21 years of the Charity under its Trust Deed dated 14 January 1988. After that date further sums have been added through gains less losses on the investments held by this Endowment and from donations specifically made to the Endowment. In accordance with the Trust Deed the Trustees may at any time by resolution of the Trustee Board apply any or all of this Endowment Fund for the Objects of the Charity.

Unrestricted Income funds are Unrestricted funds that can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Investments

Investments are recognised initially at their transaction value and subsequently measured at their fair value as at the balance sheet date using quoted mid-market prices at the close of business. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year.

Going concern

The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties or risks exist. They have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements.

Financial Instruments

Financial Instruments such as cash and debtors are measured at their present value of the amounts receivable, less an allowance for the expected level of doubtful receivables. Financial liabilities such as trade creditors, and loans are measured at the present value of the obligation.

Material judgements and uncertainties

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts recorded for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. The nature of estimation means that actual outcomes could differ from those estimates. There are no judgements made that have a significant effect on the amounts recognised in the financial statements.

2. INVESTMENT INCOME

Investment income
Deposit account interest		 2023
£
79,825
1,784
81,609		 2022
£
78,539
113
78,652

continued...

Page 14

THE CHARTERED ACCOUNTANTS' LIVERY CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2023

3. GRANTS AND DONATIONS

GRANTS AND DONATIONS
Unrestricted
Principal Charitable Project
Create: CHANGE:MATTERS a programme for young carers
Beyond Food Foundation
Bursaries
Military Welfare Grants
SBS, RM Poole
47 Squadron
H&W Sea Cadets (HMS Dundas)
Britannia RNC Dartmouth
Causes related to the City and its surrounding boroughs
Lord Mayor's Appeal
City Harvest
Treloars Trust, annual
Mansion House Scholarship Scheme
City of London Academy - Edey prize
Big Curry Lunch (via ABF)
Help Musicians (St Cecilia)
Sheriffs' & Recorder's Fund
United Guilds Service
Clergy Support Trust
St Paul's Cathedral School re Bread Street Choir
St Pauls' Cathedral re Orchestral Mass
No Going Back
Pollonating London Together
British Red Cross Society
Lord Mayor's 800th Anniversay Awards
City of London Police Widows & Orphans Fund
Fruiterers Foundation - Fruit Culture
Ironbridge Foundation		 2023
75,000
75,000
6,500
(4,483)
2,500
(1,983)
3,500
10,000
3,000
1,500
650
500
250
300
250
250
500
3,000
250
500
250
150
-
-
-
24,850		 2022
75,000
75,000
17,500
3,000
3,000
2,000
3,000
11,000
3,500
-
3,000
1,500
600
500
250
300
250
250
500
-
-
-
-
-
200
250
1,000
12,100

Page 15

THE CHARTERED ACCOUNTANTS' LIVERY CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2023

COVID-19 Emergency Grants
The London Early Opera Co Ltd
Westminster Cathedral
The Kenward Trust
Skillway
The Listening Place
City of Exeter YMCA Housing Association
Alive and Kicking Theatre Company Ltd.
The Guide Association Bristol & South Glouscestershire
Turner Contemporary
Other grants
Parkinson's UK (in mem David Shaw)
Community Safety Education
The Grange Festival
Helen Arkell Dyslexia Charity
Interfaith Glasgow
Southbank Sinfonia
The Koestler Trust
Helping Disabilities
The Children's Literacy Charity
The GASP Motor Project
XLP
Queen's Commonwealth Trust
Bromley by Bow Centre
Chichester Festival Theatre
Vision Foundation for London
Leadership through Sport and Business
Andrew Simpson Sailing Foundation
Create Community Network
Leadership thrugh Sport and Business
Life Cycle
Prisoners Education Trust
London Village Network		 2023
-
-
-
-
-
-
-
-
-
-
100
2,200
3,000
3,000
3,000
2,700
2,600
3,000
3,000
3,000
3,000
2,500
5,000
2,500
2,500
2,500
2,975
3,000
3,000
3,000
3,000
2,500		 2022
2,000
2,000
5,000
2,411
5,000
5,000
3,500
2,500
2,500
29,911
-
-
-
-
-
-
-
-
-
3,000
-
-
-
-
-
-
-
-
-
-
-
-

Page 16

THE CHARTERED ACCOUNTANTS' LIVERY CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2023

Other Grants - continued
Association of Chairs
ICAEW Level 4 Apprenticeship Scheme Prizes
Westwood
London Symphony Orchestra Ltd
Watford Sheltered Workshop Ltd
Make Them Smile
Jubilee Sailing Trust
Teach First
Aspire
Boro of Lewisham Holy Trinity CE School
The Social Mobility Foundation
The Community Hub
ICAEW
Christie Charity (In mem D Illingwoth)
Association of Charity Chairs
Deddington PCC
Leadership Through Sport and Business
Source 2 City
Restricted
Livery Schools Link Ltd
City Harvest
Total		 2023
3,000

300
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
64,375
168,742
1,000
800
1,800
170,542		 2022
-
-
3,000
3,000
3,000
1,615
1,000
3,000
3,000
3,000
3,000
3,000
300
100
3,000
3,000
3,000
150
39,165
184,676
1,000
-
1,000
185,676

Page 17

THE CHARTERED ACCOUNTANTS' LIVERY CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2023

4. SUPPORT COSTS

Governance
Management
costs
£
£
Support costs
17,801
3,180
Support costs, included in the above, are as follows:		 Totals
£
**20,981 **

Management

Share of Clerks' fees
Other costs
Bank & direct debit charges
Governance costs
Independent examination		 2023
2022
Support
Total
costs
activities
£
£
15,000
15,000
1,739
173
1,062
1,062
17,801
16,235
2023
2022
Support
Total
costs
activities
£
£
3,180
2,700

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 September 2023 nor for the year ended 30 September 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 September 2023 nor for the year ended 30 September 2022.

Page 18

THE CHARTERED ACCOUNTANTS' LIVERY CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2023

6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
Investment income
Total
EXPENDITURE ON
Raising funds
Charitable activities
Grants to institutes
Support costs
Total
Net gains/(losses) on investments
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
150,523
78,652
229,175
9,730
181,426
18,935
210,091
(8,671)
10,413
87,510
97,923		 Restricted
funds
£
6,750
-
6,750
-
4,250
-
4,250
-
2,500
-
2,500		 Endowment
fund
£
-
-
-
-
-
-
-
(341,841)
(341,841)
2,362,450
2,020,609		 Total
funds
£
157,273
78,652
235,925
9,730
185,676
18,935
214,341
(350,512)
(328,928)
2,449,960
2,121,032

continued...

Page 19

THE CHARTERED ACCOUNTANTS' LIVERY CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2023

7. FIXED ASSET INVESTMENTS

7.
FIXED ASSET INVESTMENTS
MARKET VALUE
At 1 October 2022
Additions
Disposals
Revaluations
At 30 September 2023
NET BOOK VALUE
At 30 September 2023
At 30 September 2022
There were no investment assets traded outside the UK.
Cost or valuation at 30 September 2023 is represented by:
Valuation in 2023
Cost
8.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Gift Aid recoverable
Sundry debtors
Accrued income		 2023
£
25,066
426
5,226
30,718		 Listed
investments
£
2,046,934
376,082
(389,962)
27,174
2,060,228
2,060,228
2,046,934
Listed
investments
£
342,851
1,717,377
2,060,228
2022
£
25,559
98
7,639
33,296

continued...

Page 20

THE CHARTERED ACCOUNTANTS' LIVERY CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2023

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Chartered Accountants' Company Loan
Other creditors		 2023
£
70,000
5,566
75,566		 2022
£
70,000
20,859
90,859

10. MOVEMENT IN FUNDS

Unrestricted funds
Income fund
Restricted funds
Source to City
Endowment funds
Expendable Endowment fund
TOTAL FUNDS
Net movement in funds, included in the above are as
Unrestricted funds
Income fund
Restricted funds
Source to City
City Harvest
Endowment funds
Expendable Endowment fund
TOTAL FUNDS		 follows:
Incoming
resources
£
220,302
-
800
800
-
**221,102 **		 At
1.10.22
£
97,923
2,500
2,020,609
2,121,032
Resources
expended
£
(198,661)
(1,000)
(800)
(1,800)
-
(200,461)		 Net
movement
in funds
£
22,314
(1,000)
26,501
47,815
Gains and
losses
£
673
-
-
-
26,501
27,174		 At
30.9.23
£
120,237
1,500
2,047,110
2,168,847
Movement
in funds
£
22,314
(1,000)
-
(1,000)
26,501
47,815

continued...

Page 21

THE CHARTERED ACCOUNTANTS' LIVERY CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2023

10. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
Income fund
Restricted funds
Source to City
Endowment funds
Expendable Endowment fund
TOTAL FUNDS
Comparative net movement in funds, included in the
Unrestricted funds
Income fund
Restricted funds
Source to City
Endowment funds
Expendable Endowment fund
TOTAL FUNDS		 At
1.10.21
£
87,510
-
2,362,450
2,449,960
above are as follows:
Incoming
Resources
resources
expended
£
£
229,175
(210,091)
6,750
(4,250)
-
-
235,925
(214,341)		 Net
movement
in funds
£
10,413
2,500
(341,841)
(328,928)
Gains and
losses
£
(8,671)
-
(341,841)
(350,512)		 At
30.9.22
£
97,923
2,500
2,020,609
2,121,032
Movement
in funds
£
10,413
2,500
(341,841)
(328,928)

continued...

Page 22

THE CHARTERED ACCOUNTANTS' LIVERY CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2023

10. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
Income fund
Restricted funds
Source to City
Endowment funds
Expendable Endowment fund
TOTAL FUNDS		 At
1.10.21
£
87,510
-
2,362,450
2,449,960		 Net
movement
in funds
£
32,727
1,500
(315,340)
(281,113)		 At
30.9.23
£
120,237
1,500
2,047,110
2,168,847

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
Income fund
Restricted funds
Source to City
City Harvest
Endowment funds
Expendable Endowment fund
TOTAL FUNDS		 Incoming
resources
£
448,447
6,750
800
7,550
-
455,997		 Resources
expended
£
(408,752)
(5,250)
(800)
(6,050)
-
(414,802)		 Gains and
Movement
losses
in funds
£
£
(7,999)
31,696
-
1,500
-
-
-
1,500
(315,340)
(315,340)
(323,339)
(282,144)

Page 23

THE CHARTERED ACCOUNTANTS' LIVERY CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2023

11. ANALYSIS OF ASSETS AND LIABILITIES PER FUND

Current Year
Fixed Asset - Investments
Current Assets
Current liabilities
Prior year
Fixed Asset - Investments
Current Assets
Current liabilities		 Unrestricted
Fund
£
50,966
144,838
(75,566)
119,207
Unrestricted
Fund
£
50,637
138,143
(90,857)
97,923		 Restricted
Fund
£
-
1,500
-
1,500
Restricted
Fund
£
-
2,500
-
2,500		 Endowment
Fund
£
2,009,262
37,848
-
2,047,109
Endowment
Fund
£
1,996,297
24,312
-
2,020,609		 Total
2023
£
2,060,228
184,185
(75,566)
2,168,847
Total
2022
£
2,046,934
164,955
(90,857)
2,121,032

12. FUNDS

Endowment Fund

The Charity’s Expendable endowment is an investment fund held to generate income and ensure the stability of the grant making programme. The Trustees' investment objective is therefore to give priority to preserving and, where prudent, enhancing the income from investments so as to provide full scope for charitable giving, while seeking at least to maintain the real value of the capital.

Unrestricted Fund

The unrestricted income fund represents free reserves available to be distributed by way of grants. The Trustees tend to support (in no particular order):

It is the Trustees’ policy that, taking one year with another, over a period of time approximately 90% of unrestricted income and investment gains less expenses should be distributed as grants, any unexpended balance being held as Unrestricted income funds.

Page 24

THE CHARTERED ACCOUNTANTS' LIVERY CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 30 September 2022

FUNDS (continued)

Restricted Fund

As a result of a direct appeal during the year the Charity received restricted donations, mainly from members, for City Harvest.

In the previous year the Charity received a donation from Source2City which was restricted by the donor.

13. RELATED PARTY DISCLOSURES

The Charity received a donation of £631 from the Chartered Accountants Company (2022 - £2,500).

The Charity was owed £341 by the Chartered Accountants Company on current accounts as at 30 September 2023 (2022 - £11,380 owed to).

There was no movement on the £70,000 interest free loan from the Chartered Accountants Company in 2023 or 2022. Subsequent to the year the Chartered Accountants Company requested full repayment of the loan. It is anticipated that full repayment will be made during the current year ending 30 September 2024

Page 25

THE CHARTERED ACCOUNTANTS' LIVERY CHARITY

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 September 2023

INCOME AND ENDOWMENTS
Donations and legacies
Donations mostly from members of The Chartered
Accountants' Company
Investment income
Investment income
Deposit account interest
Total incoming resources
EXPENDITURE
Raising donations and legacies
Investment management fees
Charitable activities
Grants to institutions
Support costs
Management
Share of Clerks' fees
Other costs
Bank & direct debit charges
Governance costs
Independent examination
Total resources expended
Net income before gains and losses
Realised recognised gains and losses
Realised gains/(losses) on fixed asset investments
Net income/(expenditure)		 2023
£
139,493
79,825
1,784
81,609
221,102
8,938
170,542
15,000
1,739
1,062
17,801
3,180
200,461
20,641
27,174
47,815		 2022
£
157,273
78,539
113
78,652
235,925
9,730
185,676
15,000
173
1,062
16,235
2,700
214,341
21,584
(350,512)
(328,928)

This page does not form part of the statutory financial statements Page 26

THE CHARTERED ACCOUNTANTS’ LIVERY CHARITY THANKS TO DONORS

The Trustees acknowledge with grateful thanks gifts received in the year ended 30 September 2023 from the following, most being members of The Chartered Accountants’ Company. We are also very grateful to our Company members and others who took part in and supported sponsored events for the Charity’s benefit.

Sir Gerald Acher Niall Carroll Michael Fowle Sian Hill Rachel Adams Andrew Carver John Francis Mark Hindmarch Asif Ahmed Anthony Cates David Franklin Stephen Hodgson David Allen Kathryn Ceams Angela Freeman Ruth Horgan Claire Anderson Bhevan Chandrasena Mark Fresson Stuart Howard Victoria Andrew Anthony Cherry Kenneth Gardener Mark Hudson Charles Ansley David Chitty Mark Garrett Chris Humphrey Keith Arundale Faiz Choudhary James Gibson Scott Huntley Michael Ashley Sanawar Choudhury Geoff Gillo Clive Hyman Johan Auren Martin Clapon Anthony Glenton Howard Hyman Malcolm Bacchus Alan Clarke Peter Glenton Constantinos Ioannou Chrissie Bacon David Clarke George Godfrey David Isherwood Arthur Bailey Simon Collins Henry Gold Michael Izza Paul Baker John Coombe Anthony Golding Will Jackson Rachel Balchin Anthony Cooper Fiona Goldsmith Michael Jeans Bob Barnett Christabel Cowling Graeme Gordon Ian Jefferson Michael Barton Thomas Crowe Jane Graham Sir Brian Jenkins Caroline Bass Iain Cummings Dame Teresa Graham Peter Jenkins Libby Bassett John Curry Richard Graham-Taylor Rajan Kapoor Roger Bates Jimmy Daboo Kenneth Greatbatch Neeraj Kapur Andrew Batty Robin Darbyshire Richard Green Eric Kench Anthony Bennewith Ian Davies John Greenhalgh Clive Kendall Jonathan Bewes Margaret Dawes Keith Greenhalgh Maximillian Kendall Abdul Banji Paul Denby Geoffrey Griggs Michael Kerr David Bill Peter Dickinson Michael Groom Alan Kingsley David Blair Linda Dixon Jonathan Grosvenor Kenneth Kirk Arthur Bonham Andrew Dodds Sharron Gunn Anthony Komendera Sir Charles Bowman Paul Druckman Franki Hackett Jack Ladeveze Evie Bowyer Graham Durgan Martin Hagen Graham Lamont Hugh Boyle Tom Durie Stuart Hancock David Lapthorn Alexandra Boyle Keith Durward Sir Jeremy Hanley Roger Lawson Miles Bradbury Richard Dyson Michael Hardman Edward Le Good Stuart Bridges Clive Emerson Anthony Harper Michael Legg Charlotte Brigden James Estlin Nat Harper Lord Leigh of Hurley Kathryn Britten Sir Peter Estlin Douglas Harrison Simon Letts Adam Broke James Eyre-Walker John B Harrison Charles Lewis Philip Brook Javier Faiz John T Harrison Colin Lindsay William Brooks Angus Farr Peter Harrison Hilary Lindsay CoIin Brown Richard Farr James Hartley Nick Lloyd Anne Bulford John Felthan Michael Hawkins Stephen Lockley Clifford Bygrave Leslie Ferrar Kevin Hatman Jane Lodge Heather Bygrave Sue Field Miles Hedges Graham Lovelock John Cardnell Robin Fieth Paul Von De Hyde Michael Lowe Olivia Carling Tim Fitzpatrick Loughlin Hickey Paul Maberly

Page 27

THE CHARTERED ACCOUNTANTS’ LIVERY CHARITY THANKS TO DONORS Continued

Neil Macdonald John Machin James Macnamara Richard Macve Kaaeed Mamujee Steven Maslin David Matthews Douglas McMillan John Mellett Joanne Merchant Roger Merchant Christopher Merry Mike Metcalf Victoria Middleton Matthew Millane Tarun Mistry Sheilagh Moffat Edith Monfries Peter Moore Margaret Morrissey Jayne Mould Martin Muirhead Mark Mullins Giles Murphy Claire Musgrave Christopher Napier Jenny Nelder Sir Brian Nicholson Vincent O'Brien Biyi Oloko Sally O'Neill Sally Orton Mark Pacitti Nicholas Page Clive Parritt Kevin Parry Viresh Paul Gareth Pearce Simon Pearce Lynn Pearcy

Julia Penny David Perry Andrew Pianca Russell Picot Shaun Pitt Ian Plaistowe Andrew Pomfret Andrew Popham Ed Potter Ian Powell Mark Pugh Pars Purewal Sir Michael Rake Alan Ramsey Michael Ransom Andrew Ratcliffe David Redfern Matthew Rees Jasdev Rehncy Mark Rennison Edwin Richards Linda Richardson Michael Richardson Tom Robb Tim Roberts Jill Robinson Martin Robinson Paul Rolison Charles Russam Gerald Russell David Sawer David Scott Trevor Seckel Rodney Sellers Richard Sexton Hitesh Shah Sumitra Shah David Shaw Naima Siddiqi Sean Sloan

Jeffrey Smith John Smith Peter Smith Richard Smith Susan Smith Stephen Smith Robert Smyth Emma Snow Vernon Soare Richard Somers Robert Spedding John Speed John Spencer Mark Spofforth Michael Squires Sam Stafford Allen Kim Staniforth Clive Stevens Brian Straughan Sir John Stuttard Mark Summerfield David Sunderland Andrew Sutton Timothy Sutton Jonathan Symonds Nicos Syrimis Derek Tail Walker Phillip C Taylor Philip K Taylor Lloyd Thomas Deirdre Thomas Richard Thomas Kevin Thompson James Thomson Peter Townsend Neville Trotter Penelope Tuck Nigel Turnbull Beverley Turner Richard Wade

David Walker Peter Walker Christopher Walliker Jonathan Wallis Carol Warburton Chris Ward Graham Ward David Watson Nigel Watts Edward Weiss Yancey Westerfield Martin Wheatcroft Richard Wheater Stephen Whitaker James Whiteley John Whiter Linda Wiggins Janette Wilkinson Huw Williams Polly Williams Peter Williams Geoffrey Wilson Richard Wilson Terence Winter Alan Wintersgill Robert Woolford Melanie Wotherspoon John Wreford Matthew Wreford Peter Wyman Mary Yale David Young Gino Zabeo

Page 28