|CONTENTS||Page|
|---|---|---|
|Trustee and advisors|||
|Trustee Report||'i<br>4|
|Independent<br>auditors'|report|5-7|
|Statement offinancial|activities||
|Balance sheet|||
|Notes to the financial|statements|10-17|





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||||Unrestricted||Expendable|||
|---|---|---|---|---|---|---|---|
||||General|Restricted|Endowment|2022 Total|2021 Total|
||||Fund|Funds|Fund|Funds|Fundsf|
|Income from:||Notes||||||
|Donations|||90,681|27,647|35,713|154,041|197,546|
|Investments|||37,605|15,528||53,133|40,907|
|Charitable<br>activities|||1,486|||1,486|400|
|Total income|||129,772|43,175|35,713|208,660|238,853|
|Expenditure<br>on:||||||||
|Charitable<br>activities|||||||48,638|
|Charitable<br>donations||4|27,550|68,086||95,636|109,214|
|Costs incurred|making|||||||
|donations||5|42,996|||42,996|37,620|
|Other||6|6,110|||6,110|4,601|
|Total expenditure|||76,656|68,086||144,742|200,073|
|Net income before gains||||||||
|on investments|||53,116|(24,911)|35,713|63,918|38,780|
|Transfer between funds||||25,853|(25,853)|||
|(Losses)/Gains<br>investments|on||5,539)|942)|139,132)|~45,6)3)|312,052|
|Net movement|in funds||47,577||(29,272)|18,305|350,832|
|Reconciliation|offunds|||||||
|As 1 July 2021|||440,208||1,969,867|2,410,075|2,059,243|
|As 30June 2022|||487,785||1,940,595|2,428,380|2,410,075|





||||Notes|2022f|2021f|
|---|---|---|---|---|---|
|Fixed assets||||||
|Investments||||2,347,336|2,342,949|
|Total fixed assets||||2,347,336|2,342,949|
|Current<br>assets||||||
|Cash at bank||||146,635|135,275|
|Debtors||||36,985|3,228|
|Total current assets||||I83,620|138,503|
|Current liabilities||||||
|Creditors||||(102,576)|(71,377)|
|Net current|assets|||81,044|67,126|
|Net assets||||2,428,380|2,410,075|
|The funds ofthe Charity||||||
|Unrestricted|fund||11|487,785|440,208|
|Restricted<br>fund|||11|||
|Expendable|endowment|fund|ll|1,940,595|1,969,867|
|||||2,428,380|2,410,075|






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|Donations<br>receiv|ed|||||||
|---|---|---|---|---|---|---|---|
||||||Expendable|||
||||Unrestricted||Endotrrnent|2022|2021|
||||General|Restricted|Fund|Total|Total|
||||Fund<br>E|Fundsf|f|Fundsf|Funds<br>E|
|Salters' Company|Grant-in-Aid||60,879|||60,879|110,000|
|Charities ofNicholas||and||||||
|Beamond||||25,000||25,000|18,000|
|Livery||||||||
|Donations|||29,802|2,647|35,713|68,162|69,546|
||||90,681|27,647|35,713|154,041|197,546|



## 



|3|Charitable<br>activities|||||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||||2022|2021|
|||||||||f|f|
||Costs relating to the charitable<br>activity|||ofproviding|an|educational|public|||
||programme.||||||||48,638|
|4|Charitable<br>donations<br>made|||||||||
||General Fund|||||||2022|2021|
||Military and Cadet Affiliations|||||||||
||Northern<br>District, London|Area Sea Cadet Corps||||||1,500|1,500|
||South West London Army|Cadet Force||||||1,500|1,500|
||RAF Air Cadets London Wing|||||||1,500|1,500|
||The King's Royal Hussars|Regimental||Association||||1,000|1,000|
||HMS Vengeance<br>Welfare|Fund and Crew Prize||||||300|300|
||Bursaries and education|||||||||
||Arkwright<br>Scholarships<br>Trust|||||||4,600|4,400|
||The Lord Todd Memorial|Bursary at Christ's College|||||||3,250|
||London Youth|||||||10,000||
||City|||||||||
||Mansion House Scholarship||Scheme|||||2,000|2,000|
||St Paul's Cathedral<br>Foundation|||||||1,000|1,000|
||Medical|||||||||
||Cure Parkinson's<br>Trust|||||||1,000|1,000|
||Other donations|||||||||
||Royal British Legion (City ofLondon|||poppy appeal)||||150|150|
||St Mary's Grammar<br>School||||||||75|
||St Pius XCollege||||||||75|
||Rainey Endowed<br>School||||||||75|
||Sperrin Integrated<br>College||||||||75|
||Magherafelt<br>High School||||||||75|
||Kilronan School||||||||75|
||Members'<br>matched<br>fundin|||||||||
||Young Minds||||||||5,000|
|||||||Sub-total|carried forward|24,550|23,050|





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|||||||2022f|2021f|
|---|---|---|---|---|---|---|---|
|||||Sub-total brought|forward|24,550|23,050|
|Master's Discretionary|Fund|||||||
|Harris Westminster<br>School||||||3,000||
|Samaritans'<br>City Hub|||||||3,000|
|Total charitable<br>donations||from General Funds||||27,550|26 050|
|Relief ofNeed||||||2022f|2021f|
|Community||||||||
|Voyage|||||||3,000|
|Endeavour||||||3,000||
|Circle Community||||||2,500||
|Sam Carling||||||750||
|Providence<br>Row||||||5,000||
|Military<br>and Cadet Affiliations||||||||
|The Royal Naval Benevolent Trust||||||1,000|1,000|
|Bursaries and education||||||||
|City ofLondon School for||Girls||(2)||9,336|20,664|
|Christ's<br>Hospital||||(3)||11,000|11,000|
|Royal National<br>Children's|Springboard||Fund|(4)|||10,000|
|City &Guilds||||||2,000|2,000|
|Farheen Muhammed|||||||500|
|Harris Westminster<br>School||||||18,000||
|City||||||||
|St Giles Church Residents'||Fund|||||3,000|
|Treloar's||||||2,000|2,000|
|Lord Mayor's Appeal||||||1,500|1,500|
|Sheriffs' and Recorders' Fund||||||1,000|1,000|
|Lord Mayor's Curry Lunch,||supporting|ABF|(The Soldiers Charity)||1,000|1,000|
|YMCA London City||||||10,000||





|Response to Covid-19 pandemic|Response to Covid-19 pandemic|Response to Covid-19 pandemic|||||2022|2021|
|---|---|---|---|---|---|---|---|---|
|||||||||f|
|London Community<br>Response|||||||||
|Fund||||||||8,000|
|Livery Kitchen Initiative||||||||10,000|
|Samaritans<br>City Hub||||||||4,500|
|Salters' members||||||||4,000|
||Total charitable||donations|for Relief ofNeed|||68,086|83,164|
||Total charitable|donations<br>made during|||the year||95,636|199.214|
|(1)|An additional f10,000to be||paid in 2022/23 subject to satisfactory project||||progress.||
|(2)|Two year bursary<br>awarded|in 2020/21; to be paid in 2021/22||||and 2022/23.|||
|(3)|Two year bursary<br>awarded|in 2020/21; to be paid in 2021/22||||and 2022/23.|||
|(4)|Two bursaries<br>awarded<br>in|2020/21; to||be paid in later years.|||||
||Costs incurred<br>making donations||||||||
|||||General|Restricted||2022|2021|
|||||Fund||Fund|Total|Total|
|||||f||f|f|f|
||Secondment<br>charge - The||||||||
||Salters' Management<br>Company<br>Ltd '|||42,996|||42,996|37,620|
|||||42,996|||42,996|37,620|





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||||General|Restricted|2022|2021|
|---|---|---|---|---|---|---|
||||Fund|Funds|Total|Total|
||||f|f|f|f|
|Audit fees|||4,405||4,405|3,480|
|Investment|management|&other|||||
|expenses|||1,705||1,705|1 121|
||||6,110||6,110|4,601|



## 

|Investments||||
|---|---|---|---|
|||2022<br>f|2021<br>f|
|Equities||2,346,839|2,342,538|
|Cash deposits with Newton||497|411|
|||2,347,336|2,342,949|
|Equities||||
|Market value at 1 July||2,342,538|1,977,399|
|Additions||50,000|53,087|
|Disposals<br>Net investment|(tosses)/gains|(86)<br>~45,6131|312,052|
|Market value|at 30June|2,346,839|2,342,538|
|Historic cost||1,464,705|1,424,728|



||are:|||||
|---|---|---|---|---|---|
||Newton|Fund Managers|Global Growth and Income Fund for|||
||Charities|||2,327,240|2,320,934|
|8|Debtors|||||
|||||2022f|2021f|
||Other Debtors|||36,985|3,228|
|||||36,985|3,228|



## 

|2022f|2021f|
|---|---|
|11,148|2,490|
|91,428|68,887|
|102,576|71,377|





## 

|||||Transfer||Net||
|---|---|---|---|---|---|---|---|
||Balance 30|||between||investment|Balance 30|
||June 2021f|Incomef|Expendituref|funds|f|gains/(losses)<br>f|June 2022<br>f|
|General Funds||||||||
|General Fund|421,141|129,347|(76,656)||-|(5,167)|468,665|
|Manor ofSal|19,067|425||||372|19,120|
||440,208|129,772|(76,656)||-|(5,539)|487,785|
|Restricted Funds||||||||
|Relief ofNeed||43,175|68,086|25,853||(942|0|
|||43,175|(68,086)|25,853||(942)|0|
|Expendable<br>endowment|funds|||||||
|Relief ofNeed|659,904|2,647||(25,853)||(13,029)|623,669|
|General Capital Fund|1,309,963|33,066||||(26,103)|1,316,926|
||1,969,867|35,713||(25,853)||(39,132)|1,940,595|
||2,410,075|208,660|(144,742)||-|(45,613)|2,428,380|
|||||Transfer||Net||
||Balance 30|||between||investment|Balance 30|
|PRIOR YEAR:|June 2020|Income|Expenditure|funds||gains/(losses)|June 2021|
|Movement offunds||||||f|f|
|General Funds||||||||
|General Fund|309,280|175,766|(110,633)|||46,728|421,141|
|Manor ofSal|16,494|341|450)|||2,682|19,067|
||325,774|176,107|(111,083)||-|49,410|440,208|
|Restricted Funds||||||||
|Relief ofNeed|42,002|32,712|(88,990)|7,907||6,369||
|Heritage Lottery Fund||||||||
||42,002|32,712|(88,990)|7,907||6,369||
|Expendable<br>endowment|funds|||||||
|Relief ofNeed|577,760|2,521||(7,907)||87,530|659,904|
|General Capital Fund|1,113,707|27,513||||168,742|1,309,962|
||1,691,467|30,034||(7,907)||256,277|1,969,866|
||7,059,243|238,853|(200,073)||0|312,052|2,410,075|



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|OR|THE YEAR ENDED 30JUN<br>General Capital Fund|THE YEAR ENDED 30JUN<br>General Capital Fund|THE YEAR ENDED 30JUN<br>General Capital Fund|THE YEAR ENDED 30JUN<br>General Capital Fund|E 2022|E 2022|E 2022|E 2022||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||During the year ended 30June||||2011 a General Capital Fund||||was|established,|as an expendable||endowment|
||fund, for those Livery donations||||received||by the Salters' Charitable|||Foundation|which are to be|held as capital.||
||Income arising on investments||||held|in the General Capital Fund is||||treated as unrestricted<br>income and agocated||||
||to the General|Income Fund.||Members'|||donation received for distribution<br>(rather than capital)|||||are|transferred|
||to the General|Fund for distribution||||during||the year.||||||
||The General Fund comprises|||the following:|||||||2022<br>f||2021<br>f|
||General<br>fund||||||||||468,665||421,141|
||Manor ofSal||||||||||19,120||19,067|
||||||||||||487,785||440,208|
|11|Funds|||||||Relief of||||||
|||||||||Need|Expendable||2022|||
||||||General|||Restricted|Endowment||Total||2021Total|
|||||||Fund||Fund||Fund|Funds||Funds|
|||||||f||f||f|f||f|
||Investments||||406,741|||0||1,940,595|2,347,336||2,342,949|
||Net current assets||||81,044||||||81,044||67,126|
||||||487,785|||0||1,940,595|2,428,380||2,410,075|
||Expendable|endowment|fund||analysis|||Relief of||||||
|||||||||Need||General|2022|||
|||||||||Endowment||Capital|Total||2021Total|
|||||||||Fund||Fund|Funds||Funds|
|||||||||f||f|f||f|
||Investments|||||||623,669||1,316,926|1,940,595||1,969,867|
|||||||||623,669||1,316,926|1,940,595||1,969,867|
||PRIOR YEAR:|||||||Relief of||||||
||Funds|||||||Need|Expendable||2021|||
||||||General|||Restricted|Endowment||Total||2020 Total|
|||||||Fund||Fund||Fund|Funds||Funds|
|||||||f||f||f|f||f|
||Investments||||373,082|||||1,969,867|2,342,949||1,978,897|
||Net current assets||||67,126||||||67,126||80,346|
||||||440,208|||||1,969,867|2,410,075||2,059,243|
||PRIOR YEAR:|||||||Relief of||||||
||Expendable|endowment||||||Need||General|2021|||
||fund analysis|||||||Endowment||Capital|Total||2020 Total|
|||||||||Fund||Fund|Funds||Funds|
|||||||||f||f|f||f|
||Investments|||||||577,760||1,113,707|1,969,867||1,691,467|
|||||||||577,760||1,113,707|1,969,867||1,691,467|





## 

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||||||Relief of||||
|---|---|---|---|---|---|---|---|---|
|||||Unrestricted|Need|Expendable|2021|2020|
|||||General|Restricted|Endosvment|Total|Total|
|||||Fund|Fund|Fund|Funds|Funds|
||||||||f||
|Income|||||||||
|Donations||||146,991|20,521|30,034|197,546|190,776|
|Investments||||28,716|12,191||40,907|56,005|
|Charitable<br>activities||||400|||400|2,320|
|Total income||||176107|32,712|30,034|238,853|249,101|
|Expenditure|||||||||
|Charitable<br>activities||||48,638|||48,638|49,622|
|Charitable<br>donations||||26,050|83,164||109,214|134,087|
|Costs incurred|making||donations|32,429|5,191||37,620|36,293|
|Other||||3,966|635||4,601|6,902|
|Total expenditure||||111,083|88,990||200,073|226,904|
|Net incoming|resources before other gains||||||||
|and losses||||65,024|(56,278)|30,034|38,780|22,199|
|Transfer between||funds|||7,907|(7,907)|0||
|Gains on investments||||49,410|6,369|256,272|312,051|117,277)|
|Net incoming|resources before transfers|||114,434|(42,002)|278,399|350,831|(95,078)|
|Reconciliation|of|funds|||||||
|As 1 July2020||||325,774|42,002|1,691,468|2,059,244|2,154,322|
|As 30June 2021||||440,208||1,969,867|2,410,075|2,059,244|