Charlty Numb•r: 32a028 THE WORSHIPFUL COMPANY OF GIRDLERS THE GIRDLERS, COMPANY CHARITABLE TRUST Flnanclal ststemonts 29 Séptombor 2025
Girdlers Company Charitable Trust Trustee Report Introduction The Girdlers Company Charitable Trust (GCCT) is the means by which the Girdlers Company. blessed as it is with significant assets, makes lis contribution lo the strengthening of the society ofwhich il is part. Impact on society and on people's lives We work in partnership with chosen charities in five main sectors to transfonn lives and society for th¢ bett¢r. We support communities and individuals. helping them io overcome their problem5 and succeed. We do ihis through grant funding. opening Girdlers, H811 to them for fund-rnising and stakeholder ¢vents' and providing training, mentoring and capacity building support- and active participation through the members and staff of the Company. Through our strategic grant programme we work towards the following beneficial outcomes.. • enhanced employability in order to boost beneficiaries. self-worth and economic independence. the improvement of carers, health and wellbeing to enable them lo continue supporting those for whom they care. a reduction in rnental health di50rders 10 irnprove people's overall health and happiness. the improvement of people's literdcy. irrespective of age. to help their inte8ration into society and improve their economic well-being. a reduction in the rate of prisoner rewoffending through the better integration of ex- off¢ndcr5 a5 active, contributing members olsociety. Westminster House Youth Club DofE Exhibition
2024125 Donations by Charitable Activity £854,004 Member Led Progr8rnme$. £155,170.18% MentalH6alth, £134,2(. 16% Charity Uso of Hall. £7.091 . 1% Offendor £64,500, 8% ¢arer8, £43,5QO. Fund8r Plu8 Pllot., £20,000. 2% Irish Guards 8enevolent Fund, E33,000, 4 Llt8r8w. £48,000. cityof London, £11,000.1% E337,543, 3Wh • Fund¢r Pilot.. toprovido buyinE¥ wn#ulthrKy. ¢oll#E4JrnIi m¢nwrim$, ondl ¥1¢td ple10•F¢cr 5UPPUrt hr thntiu withln the Cirdkrs'CompAny ii•n18 PQrtfol Long term impact The Girdler5 Company has been in existence since 1327. Throughout ils history, li has served Ihc community initially by bein8 responsible for maintaining the trade of Girdlers and for the last hundreds of year5 by providing welfare and charitable support to society. Our aim is lo develop long terni partnerships wilh the charities with whom we work. Currently we provide approx. over £850,000 of donations through our grant programmes to over l 00 separate charities (see note 3 in the a¢¢ounts) and for some we can Irace our partnership to the beginning of this century. Many of our 5UPPQrted charities value the on5iStency and long-t¢rni natu of our support and involvement. The GCCT is proud of its long rnDning reputation for making an impact to the eommullities that we serve. Case studies To make these commitments real, we want to share some individual stories from a few of our partner organisations. Ahoy and Westminster House are both intervening al an early stage to enhance young pcople's proSptS in life, and so their employability- Honeypot cares for young carers. And Swit¢hback works with younE ex-offenders. We are proud to be associated with all of them.
rh¢ C4nlr# TheAHOY Centre The AHOY Centre is a Waler Sport5 charity based in Deptford, just downstream of the site of King Henry Vlll's naval dockyard and birthpla¢¢ of ihe Mary Rose. AHOY offers activities on the tidal river Thames and on land that includ¢ Sailing, Ruwing and Powerboaling Ciym and boat maintenance leading lo Royal Yachting Associ&lion and other qualificalioiis, We laryel Children and young people who du¢ to their economic, cultural and family backgrounds would not oihen¥ise have the opportunity lo engage in the excllisive and expensive world of water5POrts. Lasi year AHOY piloted a River Ind Water SAfety Awareness Courge after the tragiL deaths of 2 children in 2 separate incidents in the Thaines. We are now rolling) this programme out to schools near the Thaimes, to prevent further fatalities. We are delighted to engage in the prizegiving evening at Girdler5' Hall, at which Girdl¢rs' Medallions are presented by the Master Girdler lo individuals nominated by us. It is gre&1 WAY to celebrate positive attitude, leadership and contribution of our beneficiaries and this year we have nominated a former Shipmate. The ongoing support of the Girdlers Company for ShipttLates gives Children and Young people a long-lerm engagement WLth waler sports and a proven pathway to employmenl.
eJv. Westminster House Youth Club Weslminsler House Youth CILIb, established in 1888 is one of the oldest Youth Clubs in Ihe Lountry with a strong commilmenl to Cquality of opportunity. Oiir membership is 8010 BAME and 50 % girls and young wonien. We have young people with both visible and invisible disabilities, looked after young people and those on Special GL14rdiAnship Hrrangemenls and with EHCPS engaged in of our programmes. We currently offer.. 4 nighis ol'Generic Youth Club and I night of Junior Club.. 5 targeted ev¢ning5 Of afier school provision, including GCSE homework and liieracy aiid numeracy. We work with children and young people and their families lo ensure that they remain in educalion, and stay out of the criminal justice system by engaging our members in a wide array of activilies. We have worked in partnership with The Worshipful Company of Girdlers for almost ? decades now. They are ali excellent exampl¢ of a funder who actually listens to Ihe needs of the organisalions they suppoil and will adjust aitns and targets if needed. They visit often and foster strong relationships wilh individiial Girdler5, the Charities Manager and the Charitics they support. 111141 I,_
Honeypot Children's Charity Your funds are currently supporting our wrap-round provision at Honeypot House in Hampshire. specifically helping children from Soiith-East England and flexible in the services that they go towards, meaning we can choose to use them where we need them most. The majorily has been used for our 3- day residential breaks, ensuring yoiing carers can have time awlly from their re5ponsibililies, enjoying fun and dventure (and no chores!) in the New Forest. On our breaks, children almost always mention that they have made a new friend, helping to take ihem oul of the i501ation that caring can cause. Children also value the support they get fmm our slaff, helping them deal with worries about thosc they care for and anxielies about lrying new things. They take on new challenges like climbing up high in New For¢st Wildlife Park and riding a scary rollercoasler in Paultons Park. They run in the surf at Lepe beach, one boy exclaiming it was the first lime he had touched the seal The children talk about how much fun they hav¢ playing and how Ihey don't always get to play at home. They have the chance to just be children.
Switehbfick Initiative SwilchbaLk supports young Londoners lo find a way out of the justice system and build stable, rewardin£ lives after prison. Our pioneering mentor approach works: in stark contrast to the national averag¢ which sees ncarly half of prison leavers back inside within a year- only l 00/0 of Switchback Trainees reoftend. while over half Inove into lon&-l¢m) work. Bclow, SwiichbaLk Trainee14amza* share8 his story. Growing lip, I lost a family member and that was when I Iosi passion for my hobbies. I started hanging out with the wrong crowd and got into drug dealing atthe age of15. I still fiiiished college and did one year of Uni because l olways tried (o keep Imy mlim proiid. Eventually th¢ police caine knocking. I went to prison in 2023 and spent foiir months not knowing how long I'd be there. When I plead¢d guilty and gol 58 months, I wanted io change my life, and I knew ihat Switchback could help me. I'll be honcsl, I was 5car¢d to even start a job, so I was turning everyil)ing down. I didn I have faith in myself. Now I work tull-lime al Dusly Knuckle, 'm playing football agaii), volunteering and coaching at Streel Soccer. Switchback opened so many doors for me and helped me see myself for who l am. Switchback changcd my life." Name has been changed.
THE WORSHIPFUL COMPANY OF GIRDLERS THE GIRDLERS. COMPANY CHARITABLE TRUST Flnanclal statements for the year ended 29 September 2025 TN$le8'8 Rewt 1-9 Indopendani Au(1Jks Report 10-12 Statement of FInaral hdv1I08 13 Balae Sheet 14 Ca8hlSow Stat•mont 16 tel to th& FInal Statamant8 16-23
THE WORSHIPFUL COMPANY OF GIRDLERS THE GIRDLERS, COMPANY CHARITABLE TRUST Trustse's Report for the year ended 29 September 2025 REFERENCE AND ADMINISTRATIVE DETAILS The Glrdlers, Company chtable Trust fthe Charit*l 18 a roglstered charity under the Charitie5 Act 2011. Number 328026. Thése financlal 8talemBnts comply wllh current stslutory requlrements. the TN$t Deed, and the Stslement of Recommended PracUce'Acc¥Juntlng and Roportlng by Charftl88' (SORP 2015). The Girdler8' Company. whlch18 managed bythe Court oftho Company,18 the Trus188 ofTho Charlty. Member8 of the Court during the year were.. ARUd81+# S K Drake +# A M Jam&8 A R We81all J M Weslall OCSSwann Sir Charles Bumell 81 # R T H Robart8 I C N Sealon MBE CC #+ RMJKeen8 The Rl Hon the Lord Strathalmond M G Roberts S N Sèaton The Hon Robln Nelll PHR88ve# The Reverend Slr G8org8 Nthwton Bt + J N M8ltl8nd C N G Crowthersmlth + J T Jarnes +# T H Crawfey-Boevey # N P G Soll¥bury # A K Maluand MCR Jam08 E Mackangss T Moul (El8cted 28n125) Members of the Benefactions Commiltee
Members of the Finance Commlllee
Lwerymen Mr SW Loveridge and Mr TW F81cxm are a180 membern, bjl not on the Court. The Glrdlers, Company Is also Trustse of the Begston's. Andr5, and Palyn's (Almshouse) Ch8rty. Staff assisting thg Court wore.. Mr N her ICl8rk lo the Company) Mrs S T Harris (Financial Manager} Miss S A Bennett (Charllio$ Manager)
THE WORSHIPFUL COMPANY OF GIRDLERS THE GIRDLERS, COMPANY CHARITABLE TRUST Trustee's Report Year endad 29 September 2025 Addrn•8 The GIrdls, Company Girdlers, Hall B08inghall Avenue London EC2V EL)D Bank•rn National W8stmln¥ter Bank PIC POBox712 94 M¢al8 London EC2M 6UR Audltor Saffery LLP 71 Queen Vlctorfa Street London EC4V 48E v••tm•nt M•n•g•r W1M 10 8abrDaeB Stregt London SW1Y 8AH
THE WORSHIPFUL COMPANY OF GIRDLERS THE GIRDLERS, COMPANY CHARITABLE TRUST Trustee's Report Year ended 29 September 2025 Con$titutlon, Alms and ActiVFti• Under the terms of the Tnjsl Deed of g December 1988, th8 Court of the Glrdler8' Compgny a$ Trustee {se Statement of Re8ponslbllilie$ infr8) delermlnos tho general pollcy of the Charlly, on the basi5 of advlce frorn Its 8enefactions Committee, which is responsible for recommendations to the Court on the charitable polbcy of the Trust and the distribution of thelr fund5. The Fin8nce Commrttee is responslble for advislng the Court on matter8 concerning money management, Investments, accounllng and financlng of the Tru81'5 commilfftents. The (jay- to-day affairs of the Charity and any advlce and guidelines necess for excepllonal Items are Cowordinated by the Clerk. the Charities Manager and the Fbnanclal Manager. The Benefactions Committee and the FinC0 Commlllee th conslsl of the M8sler. a number of members of the Court of Assistants arKI representallvos from the Llvery. The Commtttees each meet al least three times a year. Th8 Clerk ar Charilles Manager attend the Benef8ction8 Comfnlttee. The Clerk and the Flnancial Manager attend the Finance Commlltea. M•mb•r•hlp ol th• Gourt The Court Is made up of the Ma8ler, ltsee Wardens and up lo 24 A8818tanl8 gnd Its member8hlp18 dr8wn Irom the Llvgry of the Company. Progre89lon lo the offlc8 of Master, by alection at each stage. is from A$$l$tant (for tsvo y8ar81, Renter Wardèn, Mlddle Warden. Upp8r Warden lone year In each offlcel ané ffnally lo Master. Aftor one further year as Immgdlate Past Master. memberB of the Court asBumg the officè of Pa81 Master unbl retirement from the Court. Assl$tants. when lolning the Court. recelve an inducllon p8ck whlch Sndud88 the Charlty Commi8Blon'8 Yhe Essential Tnjslee,. the Charity'8 Tru81 Deed and lalg$1 accounts. They ère encouraggd to allend appropflate semlnar8, run ty the Compangs various prof8ssional advisers, 011 the re$ponsibililies of being a trustee. Gov•manc• M•mb•rn' Re9l•t•r of Inter••t• During the year, Court members raviewed ond, as rèqulred. updated thelr Register of Intsrests Fomis. Tru¥to• Ellglblllty All Court M6mber$ have revlew8d and signed a Tru8te8 Ellglbllity Fomi.
THE WORSHIPFUL COMPANY OF GIRDLERS THE GIRDLERS, COMPANY CHARITABLE TRUST Trustee's Report Year ended 29 September 2025 Risk manag•m8nt The Trustee has examined tho Charivs operations and cDngidere(I the Sk5 arlslng. In the opinlon of th8 Truste8, the Charity has well*stsblished resources and revlew systems which. under normal condrttons. allow risks identified to be managed al an acceptable level In Its day-to-day operat10t. Risk areas monllored Include Charlty Law and R918110n- Governance and Managem8nt,. Exlemal Influences,. Operallonal Proce8ses,' Human Resources.. Technologkal,. and Flnancial. Further detalls of the Trustee's approach lo managing ri8k¥ in these araaB are given later in Ihls r8port. Saf•guardlng Th8 Trustee endorsed the Benefactsons Commlttae's recommendallon that the Charllable Trust had a safeguarding responsibllty tjolh as a charfty in Its own right and as a funder of other organisalions. The Tw8toe ha8 agreed a Safeguardlng Pollcy and proce88 to ensure that rlwrous duo dlen¢0 15 carrfed out on al appllcant8 and grantees. 08JECTIVES AND ACDVITIES The Charlty's objective 18 to provide flnanci818UPPOrt to charllles or charitable c8u8es, whether In the Unlted Kingdom or elsewhere, as th8 Trustee shall in118 ab$olule dl8crellon delerrnlne. The Charfty assesseB naw wanl fec4plent8. This revl8w Include8 under8tandlng the Impact In one or more of Ihe following arèas.. The Improvement In people's employablllty, In order to Improv8 tholr sense of sew-worlh and oconomlc ndependen., The improvemonl in carers, health and wellbelng, In order that they are able lo conllnue 8UPPOrtlng those for whom they c8re" The reduotknn In mental heolth dlsoTder8: Speclficalty. to improve people'8 overall health and happlnes8', The Improvement in people'8 lil8r8cy {IrrespeclSve of ago), In ordèr to help th8ir integrauon Into Boclety arKI improve economlc wellbelng,. The reductlon in prisoner r8offendlng. in order to support Ihelr Int8gratJon a8 actlve and poslUvo members of sociely and h¢lp make society a $8f8r place.
THE WORSHIPFUL COMPANY OF GIRDLERS THE GIRDLERS, COMPANY CHARITABLE TRUST Trustee's Report Year ended 29 September 2025 Tho Charity's granl-making Is focused on its Principal Charitl8S. tYFM'cally numbering around 20, with many of which it maintairbs longstanding relationships, and whlch receive around half its annual grants. For exarnple. Girdler links wrth the Crown and Manor CILJb for boys go b8ck three generatlons. A formal revl8w of each rdatkjnship is undertak8n every or three years applylrKJ tha following crit8ri8: 1. Does the ch8rily's model of op8rallDn work? 2. Does the charity have the desire and méans to a888SS the value of Its work? 3. Whal has bèen the outcome of the grant? 4. Is th8 charty financially Bound? 5. Is there a dose relalion8hip with the leadershSp of the ch8rlty7 6. 18 the Chari8 approach to ènvlronmental suslalnability compatU)le wlth Girdler values? Elghl princlpal tharilies were ravad durlng the yaar urKler revlew. The Jock French Charttablo Fund en8ble8 Membgr8 of tha Lfvery lo Secure fundlng from tha Charlty to enhancè Ihelr personal BUPPOrt for p8rtlcular charllles. Th8 Fund glves lo those Charit5 8 total of three Ilmes the value of donations made lo tho Charlty by members of the Llvery. Subscritsng Member8 nomlnote chaltles wlth whlch they or a family member have a cloye Involvemenl, whather as a volunteer, donor or Trustee lo recèive grBnlg,' a COmmlee of Livery Member8 COll8ider8 th8se nominallons and Makes rocommendalion8. ThlB area ropresenls the Ihlrd largest part of the Trust's charitable gfving. Members of the Court may In addllbon nomlnale cherltles to receive a don8Uon at Chr18tmas. M881arfs Fund enabl85 th6 M88tsr to donate to charrtS0¥ of hls own cholce. Durtng the year, the Tru8lee laun¢hed a new fund. The 700 Fund, lo celebrate tho 700th anniver88ry of The Glrdler$' Company. An gxp8ndable endrywmanl fund, lo receive donatk*ns from members ané legocle8 and lo b8 dlstributed for the advance of education. This fuThl 1$ to be bu511 up over a number of years before ditstrlbullon. The Charlty Commlsslon'8 g8n8ral guldance on publlc benefft informs all gIng by the Charhy. ACHIEVEMENTS ANO PERFORMANCE The Charlty'8 grants Incraas8d thls year. wrth the Trustee Increasing donations to current Prfnclpal ¢harltle5. A surnmary of donations is included In note 3. 1. Prlnclpal. Hamm•r8mlth & P•¢kham, l¥llngton. G•n•ral Charkl•B. and Select•d App•a Nearly all the Charlty's grants are to regiytered charlti88 whose benefiCIae8 wlde In England. Geographlcally the Chariivs priorllies are the City and. In Greater London, Isllnoton, Hammersmilh and Peckham. The Glrdlers hava hlstLViC Ile8 Wlth all Ihe8e areos. Princlpal Charfts presented 48% of the Charl5 lolal gr8nts12024'.41%1 2. The New Zealand Connoctlon There have been dose Ilnks been the Girdler8' copanY an¢J New Zealand slnc8 1933, when members of the Mew Zealand Soctety were first invited to the GlrdleT5' Hall after a Wallangl Day Service at St Lawrence Jewry. Thi5 relallonshlp Is reflected In the Charity's contsnulng supporl of New Zeal8nd UrergTadU?l8 8chdar$hip8 at Cambridge Univorsity and a mgdKal research fellow3hKp 8t Green Templelon College, Oxford. This aree represents 9% of the Charity's grants in thè current year (2024'.1fl.). The beneficiarie5 durfng the year undar revlew were:
THE WORSHIPFUL COMPANY OF GIRDLERS THE GIRDLERS, COMPANY CHARITABLE TRUST Trustee's Report Year ended 29 September 2025 Nw Z•aland Fdlowshlp IGr88n Tornpl•ton Colhg• Oxft+rdl DrAlex3ndra Wild, the 2024 Fdlow, commenced her gearch in the fld of gaslroonlerology, sp8clficallylooking at blomarkers assoGialod wllh irrlable bowel syndrome. Now Zoaland Scholarships (Corpus Chrlsil Collo9•. Cambrfdg•} On8 New Zealand scholar. All tuition fees are met, and each schol8T rec8ives 8 grant for accommodation and Ilving expenses. 3. Corpu• Chrl8tl Coll#g•- Po•t Gradu•t• scholar•hip In May 2023, Mr Elliot Sludholmo wa5 8electetJ a8 the Inaugural UK poslgraduale scholar and commenced his PhD skndle8 in Physics with a focus on oplooloclronlcs al Carnbridge In October. He was lolned In October 2024 by Mr Joshua Abioye, comm•ncing his Pho in organic chemlslry. Th• Irl*h Guard• The Charlly ho$ had a charltable Ilnk wfth the Irlsh Guards 9inc8 2004. Th8 8nnual donation goes to the Regirnenl's Benevolent Fund whlch supports 9uard$men'$ welfare, adv8nlurou8 tralnlng and sporting 8clivities. The dortalion repr88ented 3.5% of the lota12024'. 3.8%}. S. Jock Fr•nch Charltabl• Fund Aclu81 (Jonalions from members were £36,364 12024.. £41.2471. A total of £125.300 {2024'. £130.6301 wa$ donated to 71 12024.'74} charities from Ihls fuTrJ. O, L•ath•r Fund The Charity awards grants to support leather-reloted a¢tlvity In orejer lo malnlaln 8 connectlon with the Glrdler8' hl8loric trade. During tha ygar or8nt8 were awarded lo Northampton Unlverslty's Instllute for Creatfve Leather Sl¢Jdies. tho London College of Fashion, and the Bill Amborg Sludlo for a néw apprenticeship. Donations In Ihls area represented 3.5% of the total12024.'2.3%1. T. Chrf•tm Court Donatlon• Court member8 8nd Senior Past Masters were each allotted £1.000 lo donate to charitS of Ihelr choice. A lolal of £29.00012024.' £31,000) was donat8d to 38 {2024.' 411 charftles. 8. Mut•r'• Fund The Master donatBd £2.370 from hls fulld {2024-. £2,000). 9. 700 Fund The fund value at the year-ond was £374,103. A8 the Glrdl8rs' Company approaches its 700th annNersaTy in 2027, the Girdlers. Company Charrtable Trust has launched its first ever Endowm8nl Fund lo glve many more young people transformational educational opportunities in future. The Expendable Endowment Fund will initially be financed by donations from, and fvnd-raising efforts by. individual Girdlers. Ov8r time the Trustee expects il to grow too through the re-Snve51ment of its Sncome. Monits this Fund are ring-fenced for this purpose only, and lor the long-term.
THE WORSHIPFUL COMPANY OF GIRDLERS THE GIRDLERS, COMPANY CHARITABLE TRUST Trustee's Report Year ended 29 September 2025 10. Ukraine fund Thls restrict¢d fund was wound up Shortly aft8r the year end, with th8 balance being fully dislitut8d. Inv•stmont power•lpollcy Tha Charity's Investment power3 are governed by the Trust Deed. whlch perrnits the fvrKls to be Invested wilhcwl reStron. The unr8stricte(I portfolio Is managed on a total rèturn basis, With a lonTrlerm oblectSve of CPI + 4.5%. maxlmislno the valu8 of its capital by participallng in the growth of the wodd economy. in selecilve asset cla¥$e8. The fuod should then be well positioned lo tolerate periods of slgnlncant volallllty and have the flexibility lo hold a8h In dlfflcull market condition8. AS a b8nGhmark for performance. ft wa8 8gree¢Y lo use the MSCI AC World Index and the TN8lee18 content wlth the perfomiance of the fund over the perfiod under conslderallon. The new 700 fund has a separate Investment pollcy - funds are to be held 50..50 Waverton Charrty Growlh Income Fund and a 81ackrock cash funtl. The Trusteg has reoently engaged wlth Portfollo R8vl8w Servlca8 lo undertake a raview of Its curr8nl inv8Stmenl objecllve, lo ensure Ils policy 18 Sultable an¢J conslslenl wlth bèst pr8ctlc8 Within the sector. There18 no Income requlremanl. The Charlty18 not rellant on Income from Investments and has tha power to reo1180 ca8h from held reserve8 If needed. Flnanclal R•vl•w During the year donallons 8nrJ glft 81d Income amounted lo £405,89412024.. £47.597,1 wilh inveylment Income and Interest of £41,382 (2024.. £56.220). the total income lor the year lolalled £447,056 {2024= £103,817). The 81gniflcent Increase 1$ due to the launch of Ihe 700 fund. The Tru81ee reviewed ils medium term cashflow and reserv8$ dufing the year ond determined that annual b8nefactions can be increased by 3% year on year, slgnlficanl reservo# havlng been built up In the Charlty lo cover years when It would not recelve éonatlons from th8 Glrdler8 Company. Fwther comment bè found in nol8 la of Ih88e account8. Charitae expenditure was £1,088,379 {2024..£925,1011. The Inv881ment portfollo had a net unreallsed galn of £187,49812024. gaSn £556,958). Ru•rv•• polky At 29 September 2025 the charity had total funds of £2,405.717 of which £374,173 were hold as an expendablg endowment, £3,428 were restrtcled an(J the balancè wa8 endowed. 12024.. £2,839,542 with £3,078 being re8trictsdl. ThB Charlty is curnnlly using accumulated reyervey from it3 expeThJable endowment fund to fund Its unrestrlcled commitments and 11 conllnue lo do so over the next 3 years. ThSs is a planned slralegy underpinning the Tnjslee's commitment lo Increase the Charlly's glving 3% year on year. To maintain adeqvate liqulity, 8 C8sh balance of c. £250,iX)O will be malnlained in the near-tervn fLrtur8. funded from wlthdrawais from the equity porttolio. The pract8 of the Trustee Is to sellgvels of granls and donations which reflect the expecteil lev81 of income in any given year. A low level of donations Irom the Company Is anticipaled in the short tanm. The Tnjstee Is aware of this and has plannod accordingly. 11 is anlicipata¢J that the Charty 11 have remainlng funds of c£560,000 on 29 Septemb8r 2027. (excluding the 700 fund) The 8xpendable endowment 700 fund wlll be built up In tha shcrt lo medium 18rm.
THE WORSHIPFUL COMPANY OF GIRDLERS THE GIRDLERS. COMPANY CHARITABLE TRUST Trusteo's Report Year ended 29 September 2025 10 year ¢8shfiow8 8r6 malntslned, updatsd rev1j at Ilwe8 Twsts8 me8tlng8 durlng the yoar. Even wlth the lovffjr return8 antknpated from ihe Inve8tmenl porifollo In the short twm, and draknlowns from that portfolio. the Charity will stlll have more than 5ufflclant re88Ne8 for its operations. FufuRE PLANS TheTruatea has no plan to changèthe main oblectfvas or main responsibilities of th• Charlty. Further [rrfrnall0ft rQgwdir the CharityB ability to oJnlSnue as a wlng concemlg induded In note 1 (0).
THE WORSHIPFUL COMPANY OF GIRDLERS THE GIRDLERS, COMPANY CHARITABLE TRUST Trustee's Report for the year ended 29 September 2025 STATEMENT OF TRUSTEE'S RESPONSIBILITIES The Trustee is responsible. prudanlly, dlllgently and in good fallh. for preparing the TTU51ee's R8port and the fln8nrAal statements in a¢cordanr wllh applicable law and Unit•d ltirydom ACCOUnng Standards (United Kingdom Generally Accepted Accwnling Practscel. The l&v appllcabl8 lo ch8r6tl88 In England & Wole8 requires th8 Trusteg lo pr8pare financol slatern1$ for eath ngndal year gNe a true and falr vw of the state of affairs of the charity and of the incoming re$ource5 and applicalion of resourc88 oflho Chtythat In pr8parbng Ih88efinancial statements, th8Trustee is required ¢om(Ay with the Fvovlslon8 of the Deed ofTrusL Seknt 8uftablo aoUntIng polkies and apply fhern con8lstenUy", obueNe the methods arKI prIncIe8 in th8 Char18$ SORP., make ludgmonts and gsts'maies that are reason8 and pwdenl", 8t#lo ether apable seuntIng 8laTrd8rds have been followed, Buts¢1 to any material d8partUfa8 dlschxed and explaln8d In the 8tstem•nl8,' prewe the nClaI 8tatements on the wlng corThrn bas18 eSS It Is Inopmlate to kyesume ihal the charity WHI conllnue kn LMJslngS8. Pursuant lo the above. the TnJste8 Is r8spon8lble11) for keeplng [per auntIng records th81 dlsclose wEth reasonable cr¥ gt any tlme the financlal poslllon of the charlty and121 for causirKg to be kyoduced financial statements whlchcornply with the relevant provisions oflha CharSlle5 Act 2011, Ihg Chwity (Accounts and RgPOrt8) Regulalhin8 2008 and the provLsions of the Charfty's Tnjst Deed 8nd13) fcf Sofeguardlng the 8SSo1s of the charfty and in 80 dolng t8kSng r8880n8Ne stops for the preventlon and delecilon of fraud and other Irr¥trlarlUes. The Tru8lae is responsible for the maintenance and Integrity of the charity and flnanci81 Inform8tlon Included on the charfty's webs0. L8gi¥lallon in th• United lQngdom govomlng the eParaOn and dl86emlnation of finandal 8tstemonls may dlffer from leg151allons In other lurisdlcllon8. AUDITOR Soffery LLP has expre889d Its wllllngness to b8 reappointed as audltor for the forthcomlng year. Approved on 12m May 2026 and SIgn 4)n behalf of the TnJslee by.. ALOU. MrARUdal Mastor of th8 Girdlgr5 Company
THE WORSHIPFUL COMPANY OF GIRDLERS THE GIRDLERS, COMPANY CHARITABLE TRUST Independent Auditor's Report to the Trustee OplnSon We have audited the financial staternenls of The Girdlers, Company Charitabk Trust for the year ended 29 September 2025 whlch comprise the Slatement of Financial Aclivltles. Balance Sheet and Cash Flow Statornenl and notes lo the financial slalemenls, Indudlng significant accounting pol&$. The finarKial reporting framework that h8s been applled Sn Ihelr preparation is applicable law and United Kingdom Accounting Standards, includlng Financial Roporting Standard 102, the Financial Reporting Standard aPplble In the UK and Republlc of Ireland (Unlted Klngdom Generally Accepted Accounting Practice). In our opinlon the flnanclal slalements.. glve a true and fairvlew of the 8iale uf the charity'5 affalr8 as at 29 September 2025 and of Ils Incomlng r8source5 and 8pplicalion ol resourc&s for the year than ended., havo been properly prepared In acrdanCe with United Kingdom Generally Accepted Accounllng Practice.. and have been prepared in accord8nc8 wlth the r8qulrements of the Chorilies Act 2011. Ba•18 for oplnlon We conducted our audlt in accordancè vAlh Inlemalbnal stalar(l6 on Audrtlng (UK) (ISA8 IUKII and appllcable law. Our responslb11115es under those standards ar8 further described In the Audltor's responsSbllllios for the 8udll oflhe fancIal statements section of our report. We are independent of the charlty in accordance with the ethical requirements that a relevant to our audll cf the flnanclal 8tslemenls in the UK, Includlng tho FRC'S Ethlcal SiBfjdard. gnd we hava fulfllle(l our olhar 8thlcal r8sponslblllknes In Accordar wllh these requirements. We believe that Ihè audll evidènce we have obtained Is Sufficient appropriate lo provlde a basis for our opinion. Conclu•lon8 r•latlng to golng conc•rn In audillng thè flnancial 8tstements. we have conduded that the Trustee's U89 of the golro concem ba818 of 8ccountiry in th• pr8parollon of the flnanclal slalements Is 8pprowlate. Based on the wc¢k we have performed, we have not idenlrfied any Mat01 uncertalnlies rdaling to events or (x)nélllons Ihal, IndNi¢Jually or lIeVely, may cost 81gntficant doubl on the charlty's ablllty lo contlnve 08 3 gJing CarrTr for a perh)d of al least 1ve monlhg from when ihe financlal statements are authorlsed for i88ye. Our r8spon8ibilst188 and the responsibilitiey of the Trustee wllh respect lo going concern de8cdbed In the relevant sectlons of this report. Other Infonn*loD Th8 Trustee 18 respons1t8 for the other InforTnati. The othor infomiallon comprises the Infomallon Included In the annual report, other than the financial slalemenls and our au¢YSlor's report thereon. Our opinion on th8 financial stalem&nts does not cover the other infomiallon and. except lo the extent otherwise explicllly state(1 in our report, we do not express 8ny fomi of 888urance conclusSon Ihefeon.
THE WORSHIPFUL COMPANY OF GIRDLERS THE GIRDLERS, COMPANY CHARITABLE TRUST Our r85ponslbS1ity is to read the other Informatlon and, in doing so, consider whether the other Information Is materially Inconsistent with the financial statements or Ouf knowledge obtalned In the course of Ihe audit or olhwise appears lo b8 materially misslaled. If we Ident1fy such material inconsistencies or apparent matérial misstalemanls, we are required to determlne whèther this gNes rise to a material mi8Statsmenl In the financial statemen15 themselves. If. based on thè work we have performed, we Gonclude that there Is a materlal rnisstalement of this other information.. w8 are requlred lo report that fact. We have nothlng lo report In Ihis regard. Matters on whlch wo are requlred to roport by exceptlon We hav8 nothing lo report in respect of the following matters Sn relalbn to which th8 Charities (Accounts and Reports) Regulations 2008 require us to report lo you if. in our opinion.. the informatlon glven Sn the Tru8188's Annual Report is Incon$lstenl in any material resPt with Ihe financlal statements,. or the charity has not kept sufficient acc(MJntlng records.. or the flnanci81 statements are nol In agreement with the a¢xountlng records and retum$,' or we have not rec8Sved all the information and 8xplanalions we require for our audll. R••pOn8lbSlltl ol th• Tru•t•• A8 explained rnore fully in th8 Truslea's Responsibilities Slalemenl set out on pa98 g, the TTu8188 Is responslbla for the preparation of the financlal 8tat8mants and for being sallsfied that they glve a Inje and fair view, and for such internal control as the Tru8lee determlnes Is necessary to enable Ihe preparauon of financlal s18ternent8 Ihal ar8 free from material misstalemant, whether thje lo fraud or error. In preparSng the finBncial 8lalemenls, the Tnjslee 1$ responsible for assesslng Ihe chafity's ability lo contlnue as a golng concem. disclosing, as applicable, matters Telaled lo going concern and using the golno concern basss of accounting unles¥ the Trustee ellher Intends to15qultlata tho Charity or lo cease operallon8, or hB8 no reallsl allernatlve bul to do $0. AudStorn' r••pon•lbllltlM for th• audlt of th• flnandal •tat•m•nts We havo been appolnted as audllors under the Ch¥rlll68 Act 2011 ond report In accordance wFth r8gulatlon$ made under Ihal Act. Our oblecllves are to obtaSn reasonable assuranoe about whether the flnandal Statements a8 a whole are free from malarial mlsslalemenl, wholh8r due lo fraud or error, and lo issue an auditors. report th8t includes our opinlon. Reasonable assurance 1$ a high level of assuranc8 but Is not a guargnlee that an audit conducted in accordance wblh ISA5 {UKI wlll alwoy8 delecl a malerlal Mlsslalement wh&n it exists. Misstalemenls can arS$e from fraud or error and are considefed material If. Sndividually or in the aggregate, they Could reayon8bly be expected to infiu8noe the ewnomic decislon8 of users taken on the bosss of these ffin8ncial ¥talemenls. 1mgul8rit1, includlng fraud, are instsnces of non-wmplian¢e with laws and regulallons. We deslgn preduleS In Ilne with our responsibi1Slles. outlined above, to delecl rnalerial missialemen15 In re$pecl of irregularities. induding fraud. The specific procedures for Ihls engagemanl and the extent to whlch these are capable of delecling Irr8gulari1Ses, including fraud are detailed balow. Identlfylng and 8¢531n9 rl8k8 rolatsd to Irr•gularltloS: We asse85ed the susceplibiliiy ofthe charitlsfinancial stalements to materlal misst818m8nt and howfraud might occur. including through discussions with representatives of the Tnjstee. discusstons wlthin our audit team planning rneeung, updating our record of internal controls and ensurlng these controls operated as inlended. We evaluated possible Incentives and opportunlt19s for fraudulent manipulion of the financial statements. Vve identTffed laws and regulations that are of signiftcanca in the context of the charity by discussions wlth represantatives of th8 Trustee and updating our understsrJing of the Seth in vthich the charity operates. La and gulaOns0f Llreclslgnilkanc8 in the context of the charity includethe Cheriti8sAct 2011, tne Charibès (Accounts Repcthl Regulauons 2008 and guidane8 issued by Charity CoMmissN for England anLI WaleB.
THE WORSHIPFUL COMPANY OF GIRDLERS THE GIRDLERS, COMPANY CHARITABLE TRUST Audlt response to risks Sdanlifi•d.. We considered the extent of compllance wlth these laws and regul8llons as part of our audit procedures On the related financial statement items Induding a review of financial slalemenl disdosures. We reviewed the chaflly's records of breaches of laws and regijlalions, mlnules of meellngs and correspondence wlh relevant authorities to identtfy potents'al material misstalomenls arising. We discussed tha charlty's poliaes and procedures for compllance with laws and relatIonS with memb8r8 of manag8menl re5POll8ible for complSance. During the planning meetin9 with the audit tgarr, the engagement partner drew attention lo the key areas which might involve non-compllance with laws and regulations or fraud. Wo enqulred of management wholher they were 8W8re ofany instances of non-compliance with18ws and regulations or knowledg8 ofany actual, 8uspected or alleged fraud. Vve addressed the risk of fraud through manag8menl override of conlrds by le31ing the appropriateness of Journal entrles and iijentfylno any significant transactions that were urnjsual or outside thg normal course of business. We assessed whether judgemen18 made in making acc(xJntlng 0811mates gave rlse lo a p089ible indicauon of management blas. At the cornplelion stage of the audll. th8 enG8g8ment partnerfs review Included onsudng that th8 188rn had approached Ihgir work wth 8ppropriale professlonal scepJcl8m and thu8 the capxity lo Identlfy rKWmpl1an with laws arKI regulatbns and fraud. Thore a Inherent limltallons in the audit procedures described above and the fvrther 0Ved nonwcompliance wilh law8 and regulation818 from Ihè events and transactions r8ftectgd in the financial sta¢em8nls, the1888 likely we would become aware of11. Aso. the rl8k of 1 deloctlng 8 material mi88tatemenl due to fraud Is hlgher than the risk of not detecting one resulting from 8rror. as fraud may Involve deliberate concealment ty, for 8xampl8. forgery or Intenllonal mlsrepres8ntations, or through collusion. A further d8scrfplSon of our responslbllllles ly avallable on Ihe Financial Reporting Councll's webslte al,. .ukJa rsre . Thls descrlplion forms part of our audilorf8 report. U•• of our r•port Th18 report 18 made scAdyto the ch8dty'8 Truste8. as a boo, In accordance wllh Part 4 of th8 Charille8 (Accounts and Raportsl Regulations 2008. Our Budil work has been undertaken so thal we mlghl Blale to the Trusleo those matters we are requlred to slate to 11 in Bn audrtorf$ report and for no other pur)Se. To the lIest extent permltted by18w. we do not accapl or a88ume r6spon8lbllity to anyone other than the charlty and the Tru5te8, for (¥Jr audh worK for thls report, orfor the opinions we have formad. Saff8ry LLP Stslulory Audllor8 71 Queen Vlcloria Streat London EC4V 48E D810.' 113cxnL 2 016 Saffery LLP Is eligible to act a¥ an audrtor in lem18 of sBGtion 1212 of the Companles Act 12
THE WORSHIPFUL COMPANY OF GIRDLERS THE GIRDLERS, COMPANY CHARITABLE TRUST Statement of Financial Activities Year ended 29 September 2025 Reytrlct• Uraine lund E%nd£b1• Erthwmonl Fund fund 7001und 1025 2024 DOntI)S legacl 38,489 3SO 404 4T,597 41.319 43 41.302 5e,220 Totsl Incon¥• 79,808 350 368,898 447.ose 103,817 Rql¥lng fijndi 12.493 12. 18.1 I.05588 1,055,1 925.101 Tot41 Exp•ndlturn 1,088.379 1,008.379 ,293 Not Expend5tyJrn bofor• gHIrf(k>El on IrNwtrnenlB 1988.5711 350 388.898 1621.3211 1830,4ni Nity1k)sI on Invwhanra 180.223 187,491 556.958 7,275 1988.5711 350 374,173 180.223 14348251 1282,5181 988.671 1988,5711 380 374,173 1808.3481 143&USI 1262,51al B81#n bmughl ftstha YO S8ptnbex 2024 3.078 2.838.484 1839M42 2,057.024 8il•w ¢•rrf•d forw•rd 29 S•pt•mb•r 2025 374,1n 2.028.116 2,4QS,717 2.839,542 AJI actfvltles are continulng. The note5 on pages 16 to 23 fomi part irf these financial slalemants. 13
THE WORSHIPFUL COMPANY OF GIRDLERS THE GIRDLERS, COMPANY CHARITABLE TRUST Balance sheet as at 29 Soptember 2025 Not•s 2025 2024 Fix•d A•$•ts Invostmonts- al mthl value 2,582,$24 2.952.505 1062.524 2,952,505 Current A8•ats Debtors Cash al bank 26.736 234.398 231,576 280.132 Cr•dltorn: amounts falliry du vAlhln one year (28i397) (281,957) N•t curr•nt (IlabllitiMya•••t• 162661 (9.573} Cr•dftorn: amount8 fallSng duo after more than on8 year (100,542) (103,3901 2,405.717 2,839,542 Fund• Unre81rlcl•d fund8 Restricted fund - Ukralne Expendable Endowment 700 F Endowment fvnd8 3,428 374.173 2,028,116 3,078 2,836.4e4 2 405 717 Approved by the Tru$tg9 arvj autl¥Jri88d for186ue on 12UT May 2028 anol sh3ned on Its beham by.. OL MrARUdal Master of the Glrdl8r3 Comp The notes on pages 18 10 23 form W ofthes8 finoncial statements. 14
THE WORSHIPFUL COMPANY OF GIRDLERS THE GIRDLERS, COMPANY CHARITABLE TRUST Cash Flow Statement Year ended 29 Septembar 2025 Not•• 2026 2024 Cash flows from op•rating activitloo: N•t cash uged In op•ratlng acthilti 11 ¢h from Inv•sllfig aCtl¥ttla•: Dlvldends and Interest from Inv8stmonts Proceeds from Sale of inva8lment8 Purchas8 of Snvestmenls Demsel(Incr88se) In c88h 8waMlng re4nve8tmenl N•t cuh provld•d by Invostlng •¢tlvltle8 31,308 2,421325 (1,741.0751 49,812 1,721.812 1938.734) 731200 Ch•ng• In c••b and cA•h •qulval•nl• In th• y••r 2,821 <13.215) Ca•h cmh •quival•nt• at th• b•glnnlng of th• r•portlng p•rlod 231,$75 Cuh •rKI ca•h •qulval•nt• at th• •nd of th• r•portlng p•rlod 12 234,396 231.575 Thg notes on page8 16 to 22 fonn part of IheBe flnanclal 61alements. 15
THE WORSHIPFUL COMPANY OF GIRDLERS THE GIRDLERS, COMPANY CHARITABLE TRUST Notes to the financial statements For the year ended 29 September 2025 A¢countlng pollGles (8) Ba¥l8 of accounting The Charity18 an IneA)rporaled charrty Iregisl8r8d nufflber 3280261. Th9 addr83$ of the wlstered offlce 18 The Gffdlers. Company, Girdlers, Hall, Baslnghall Avenue. London EC2V5DD. The flnancl81 statements have boen prepared under the hl¥toric81 c081 convenllon (except for the valuation of Investmen151. The fr'nanelal stslements are prepared In accordance with the 'Slalemenl of Recommonded Practice.. Accounting and Reporting by ChaTilles preparing Ihelr accounts In accordance vAlh Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS102}' and the Financial Reporting Standard appl+cabl8 In the UK and Republic of Ireland {FR5102} and the Charitt08 Ac12011. The finanGSal slalem8n18 have been prepared lo give a 'trLte and lair. vlw and havo doparted from the Ch8rilies IAccounls and Report$) Regulations 2008 only lo the exlenl requSred to provide a 'lrug and fair. vlew. Thls departure has involv8d following AccoLtnlSng and Reportin9 by Charitie$ Pfepaftng Ihelr rinancial slalemenls In accordance wllh the Financlal Reporting Standard appllcable In the UK and Republic of Ireland IFRS 1021 Isecond Edillonl rather than the Accounting and Raportlng by Charltles.. Stsiemenl of Recommended Praolke effecUv8 from 1 April 2005, whlch has since been withdrawn. The accwnl8 are wapared In kX)und 8terling and are rounded lo IhB nearest pound {£}. The Chortty congt51utss a publlc benafit enllty as dofined by FRS 102. Golng Conc•m The Tru8tee has a reA8onable expectation th8t tha entlly ha8 adequalo Teyources to contlnue In operalSon¥l exlstence for tho foreseeable future which Is a perd of al18asl 12 month8 from thg glgnlng of the accounts and audit report. (b) In¢om• AJI inwme 15 rewgnisod in the Slalement of Financial Aclfvllies whell tha chartty Is enlllled lo the Incom8, the amount can be lIablY measured and receipt Is probable. Donation8 are recowised wh8n received. (cl Expgnditurg Expendiivre Is allocated lo two expen88 headings, Costs of Raising Funds and Charitable Activities, on a dlrect cost basis. Costs of Raising Funds are inveglmenl managerfs fee5. Charitable activities comprises (Jlrect charitable expendkure Idonatlons-se8 3 bolowl plus chadly managers 58lary costs. Govemance costs are included here and wmprise aud¢t costs, recharged salary costs for support staff, and other similar charges. Donations payable are recognisl In Ihe Stalgment of Flnancial Acllvilies as charltable expenditure in the perlod in which Ihe grant is communicated to the beneflary. AonIS payablè more than one year from ba5ance shoot dale are separately disdos8d. Penslon contrfbutions are made on behalf of staff lo a defird contrlbulion P8rsonal Pension Plan. 16
THE WORSHIPFUL COMPANY OF GIRDLERS THE GIRDLERS, COMPANY CHARITABLE TRUST Notes to the flnancial ststements For the year ended 29 September 2025 {dl Taxatlon The Charty is enlHled lo exemption from laxalion on IOrne and capitsl galns lo the extenl that its funds aré applied for charitable purpos88. le) Investment8 Investments held for the long term to generate income cy caplt81 growth ar8 caryled al markot value as fixed asse15. Realised and unrealised gains and losses are included In the Staternenl of Flnancral Activit5. (fj Flnanclal In¥trumonts Flnancial liabilllles and equity are classified accA)rdlng to the substance of Ihe finandal inslwmant'8 contractual oblvJallon8, rather than ils legal fom). The Charity's cash at bank and in hand and trade and other debtor8 and rts Ir8de and olh8r credltors arKI bank overdrafts are measureil initially al th8 Iran88cllon price, indudlno Iransoclion co818, and subsequenlly al amortised cosl usirYJ the offective Inlefvsl method. Debt Instrument8 that are payable or receivable wlthln one year are measured at the undiscounted arnount of the cash or other con81dwalion expected lo bb pak1 or recoived. Ig) Fund• The fund8 are cateBori8ed a5 lollow8'. Unreytrlcled fund8 can be u88d for the Chartty's general purposes. RestrKted fvnds comprlse income recefved by the Charity whore the donor has specified that the funds or8 to be used for partkular purp08e8 of the Charity. They can only be Bpgnt on Ihg Speclfied purpose. The ondowmenl fund 18 expendable at tho Tru81ee'8 di8crelion. Th8 Trustee tr8n8ferred funds to tho k)come funds In the ye¥ to ensure Ih08e funds were able lo mael th8 c08ts of deliverlng the charlty'8 actfvllles. The 700 fund Is an expend8ble endomnent. where the donor h89 spaclfled that the fund8 be h8ld In the short to medlum term and spent onlts 8pectflod purpose. Ih) Crltlcal ludg•m•nts and estlmatlon• In proparlng these aceounls, the Truste8 has estOrn8ted th8 future cost f the current stholars, based on Ihelr bes1 esUmate$ of the course being completed in the expected tlmefrarne. For fijrther In1matIon on the Charity's Golng concprn, please refer lo nole 1 la). In¢om• •nd gndowmgnt• Total Total 2025 2024 Unr•strSctgd Inrome from members Donations Inveslmenl income Bank interest Re•trlct•d Income from members- Ukraln Incom8 from mombBrs- 700 fund 3&364 2.125 31.308 10,054 40.305 6,000 49,812 6.408 350 366,B55 350 103,817 17
THE WORSHIPFUL COMPANY OF GIRDLERS THE GIRDLERS, COMPANY CHARITABLE TRUST Notes to the flnancial statements For the year ended 29 Septembor 2025 Charltable actitI Amounts approv•d for paym•nl In yoor 2025 2024 Frqmn Unr••trSct•d FundB: Prfncipal Ch8rllle6 Enhanced Selected Gir(iler8 SuppcKIpoJ Charilie8 Harnmersmith and Peckham Charllles New Zealand Scholarshlps and Fellowshlp Corws Chrislle P08t Graduate Scholarsh Id8h Guard8 Loather Fund 400,175 325,226 28,849 33.000 08,000 78,209 28.859 33.000 30,000 5.500 20,000 55,000 87,940 12,890 30.000 29,500 5,000 29,000 1811ngton Charllle8 Other On8 Off Grants 9,850 Entertalnmanl- Charlty use of hall 7,091 11,781 Jock French Charftable Fund 124300 130.630 ChrL8tma8 Court Charlty MaBWs Fund 28,500 31,000 2J70 2.000 Total Donallon• approv•d for paym•nl 850.004 788,865 8rcwhl forw8rd acLwed bursarl•s (237,1741 (229.9721 Carrled forward accrued bur88rles 304328 237,174 Total donations pay•ble 796 887 0[t staff costs 71540 74,488 Govemance costs: Staff ¢J)sts Audrt fe88 Charlties databasg Software Professional fees Entertainment 26,041 8,860 2,625 314 17,080 T¢)tal cos1> charitablg acllvlti• 1055 880 925 101 18
THE WORSHIPFUL COMPANY OF GIRDLERS THE GIRDLERS, COMPANY CHARITABLE TRUST Noto5 to the financlal statements For the year ended 29 September 2025 With the exceptton of mainlanance grants paid lo the New Zealand Scholars tolalling £11,802 (2024 £19,670) donatlong are pald ta rxganisations. The fc41¢M6ng organls&tton8 receNed materlal donalknnB In the year ended 29 Sepiembw 2026.. AHOY Barons Court Project The Bill Amberg Studio B08ence Farm Community The Chlldren8 Lltgraoy Chgrity Country Trust Crown and Monor Club Discovery Sailirg Project Dorothy House H08pMce Gordon Foundallon Gulldhall S¢hool of Mu¥lc and Drama Honeypot Chlldren's Charlty Irl8h Gu8rd6 Klng Edward'8 Sthool, Imlley LorKlon College of Foshk)n London YcMJth- Hlndlèap Warren Lord M8yorf8 App8al Pecan Queen Ellzabelh Foundatk*n Roy81 Sch)ol of Needlework SportsAid Sl Giles Trust 27,500 11,000 16,500 11,OlX) 11,000 22,000 16,500 10,000 16.500 26.350 16,600 22.1)]O 33,000 19.8110 14,300 13,750 10,000 10,000 16.500 16,500 13,750 27.500 14,850 20.000 11.000 10,000 12.500 16.500 16.500 st Paul'8 Cathedral Chorlster Trust Swltchback The School and Famlly Works The Uppw Room Tho Wine Centre Wesknlnsler House Youth Club Young Actor8 Theatre Total •xp¢ndlturn tmrect Costs Tctal 2025 Total 2024 Cogts Investment Manage¢s cosi8 Charitable ActNith 12.493 12,493 1055 886 18.192 925.101 943,293 109,933 1.068,379
THE WORSHIPFUL COMPANY OF GIRDLERS THE GIRDLERS, COMPANY CHARITABLE TRUST Notes to the flnancial statements For the year ended 29 September 2025 St•ff ¢tS 2025 2024 Staff cosis.. Wage8 and salari Employer's NIC Penslon costs 81.654 10.429 74.904 10.248 No omployee eamed in exc88s of £60,0 dur+ng the year fof servlc88 provlded to the Charmy. The averag9 number of Staff on an average head count basls dudng the year was 812024.. 8)- K•y manaym•nt p•r•onn•l The Twslee ha8 authority and respon8lbllty for plannlng, dlrectlng and conlrolllng the acllvllies of the Charty, The Trustee receives no remunoratlon for serv*e8 provkled 88 Trustse. Flxed a•Mt Inv••tm•nt• RM¢rlct•d Endowm•Trt 700 Fund fund• 2025 2024 Quoted Investments L181ud Investments Cash awaiting re-lnveslmant 340,199 2,202,455 2.542.654 2,912,894 343,169 2.219365 2.562.524 2,952,505 Market value al 30 September 2024 Additions Dlspo381 at carying value Unrealised galns 2.912.894 2.912,894 3.139.014 1.408.152 1.741,075 938.734 12,421.2251 (2.421.225) {1.645.7851 480911 332,923 Markot v•lu• at 29 SoPt•mb•r 2025 2 202 455 2912894 Cost of investments al 29 Sept8mber 2024 332,923 1.899.821 2332.744 1,936.943 r•dllors.' amoun1• falling du• wlthln ono yoar 2023 2024 AccnJ815- audit fee Accruals- investment manage18 fees Other- charitable donations Due lo The Girdlers, Company Other 7.320 3,000 212,538 41,245 7.080 4.500 221,434 28,943 397 261957
THE WORSHIPFUL COMPANY OF GIRDLERS THE GIRDLERS, COMPANY CHARITABLE TRUST Notes to the financial statements For the year ended 29 September 2025 Cr•dltors.' amounts falling du• aftér more than one year 2025 2024 Charllable donations 150,542 An8ly¥l• ol net a$8Ots twe8n fund• Y•ar •nd•d 2V Septhmbor 2025 Rostrlct•d Ukraln¢ Fund Endowm•nt Iln. r8•trlet•d R•strl¢ted 700 Fund Tot•1 Flxed A889t Inv8atsn¢nts Net curfanl 088•t8 Cr8(Jknts'. falllng thjo gftor moro than on• year 343,158 2•,945 2319,305 1189,8831 2.M2,523 14,9681 {151,$421 2.407,013 151.542 1151,5421 3,428 373,103 3,428 2,02•,482 FLxed a8get Investments N•t current 8680t8llllablliti881 Crèdltoi¥.. fallFng due aftermoro Ihan one yoai 2,952,505 2,952,505 11 t8,041} {9,5731 1103,3eOI 103,3 3.078 1103.3gKIi Yr endod 2W S8ptw)ber 2024 3.078 2,836,464 2,839,542 The entlowmentfund Is axpendab4e. Incom& generated by thè fund can be used to 8UPPOrt the Chadtys ganeral purposes. The restricted Ukraine fund reflects income received Io 8UPPOrt the Charlty's work Sn relation lo Ukrain8,11 cal) only bg spent on this purpose, was lully dlstrltxjled shoruy after the year and and 15 now c108ed. The restrlGled 700 endowment fundls 8xpendable. Income generatsd by tho fund can only be u8ed lo 8UPPOrt 113 charllabl8 obl8CtIv8s. 10. OutlSn0 •ummary of lund mov•mont¥ A• •t Igth S•pt•mber 2025 Galn8 and Lo880S Fund Balance Incom• Exp•ndltur• Tr•nsfvr¥ Balanc¢# Unreslr¢cted Reslricled 700 EThlowment Totsl 79,808 350 366.898 11.068,379) 988,571 3.078 3,428 373,173 2028116 2 405,717 7,275 2.836.464 2,839.542 447,056 1068 379 187 498 21
THE WORSHIPFUL COMPANY OF GIRDLERS THE GIRDLERS, COMPANY CHARITABLE TRUST Notes to the financlal statements For the year ended 29 September 2025 As at 2W Soplemb8r 2024 Fund Balanco Income Expendlture Transfers Galns and Balances Losses Unrestricted Restricted Endowment Total 100,763 350 1943,293) 839,476 2,728 3,119,332 3 122 060 3,078 558 958 2 836 464 556 958 2 839 542 839 476 103817 943 293 11. R•conclllatlon of n•t •xp•ndl¢ur• to n•t c•ih flow from oper•tlng acllvltloj 2025 2024 Nat •xp•ndltur• for the y•ar Adjustments for.. L0888sllgaln8) on Inve8lm8nls Dlvld8nds. Interest and rents from Inv88tments IDecreaseylncrease in credil(vs Dec38e/lln¢reasO> Sn debtors Net cash us•d In op•ratlng actlvltl 1433.8251 (282.518) 1309,9111 {556,9581 (31,308) (49,812) B1.592 19.944 728 379 881218 12. Analy•l• ol ¢a•h and ca•h •qulval•nts 2025 2024 Cash In harKI 234,396 231.575 Total ¢uh and cwh •qulval•nts 231 575 Th8 Charlly di(1 rK)t have ary dèbt al the year end.12024'. none) 13. Rol•t•d party tr•n¥a¢tlon* The Glrdl8r8' Company18 IheTrnslee ofthe ChaMty.11 recefve8 n6ilher remuneration norexpenses for 8ervice8 provlded as Trust80. Membors of the Truslee who make an annual qualfylng donation to the The Glrdlers, Charflable Trust. ar8 entitled lo nominate a registered charity whlch 11 b8 consldered by the Jock Fr8rh Charflable Fund commlitea to réceNe a donation. Th¢ Girdlers. Compary maintains a central payroll system for all employees. Salary and wages costs tolaling £108,637 12024.. £100,529) are r8fie¢t8d In the accounls. An am1n1 of £41.245 (2024.. £28,943} w89 due lo The Girdlers. Company at 29 September 2025. Mgmbers ot the Tru8lee were invited, in 2023 to donate to th8 Charitvs Ukralne appeal. £350 was received from tnernbers this PUTpose {2Q24.. £350}. Th8 new 700 fund 81so received donations from members this year totallng £147,580. Further details about how tha fiinds will be used are pded in the annual TèWI 22
THE WORSHIPFUL COMPANY OF GIRDLERS THE GIRDLERS, COMPANY CHARITABLE TRUST Statement of Financial Activlties Year ended 29 September 2024 re8trfctsd Funds R88ttsted Fund$ Endovrnnl Fund8 2024 2023 DDnattons and1#$$ 47.247 350 47,597 56,220 63,423 67,3C Inve8tsm8nts 56,220 Totol Incom8 103.467 103.817 120,723 Exp8ryJlture on: Ral8lrvJ fund8 ch0rftaB acdvlt508 18,192 925,101 18.192 925,101 17,737 957,798 Totsl E%pendlture 943.293 943,293 975.536 (839,8281 350 1839,476} (854,8121 gaInlI08086)On On In¥e91rnI8 668.958 566,958 336.126 Net l9xp8nd1turnllrK1ma 1839,8281 350 556.958 1282,518) {518,88ei Tron8for batsyTr fund9'. 839,828 1839.8261 N81 m0vernl In 360 (282,8681 1282.518? 1518,6881 8alanc88 broughtforwaTII 30 Septambgr 2023 2,728 3.119.332 3.122.080 3.840,746 Balance3 carri9d fonvard 29 September 2024 3,078 2.836,464 2,839,542 3,122.CfO