2022-06-30-accounts

		Page
Trustee and advisers
Report ofthe Trustee		2-7
Independent auditors'	report	8-10
Statement offinancial	activities
Balance sheet		12
Cash flow statement		13
Notes to the financial	statements	14 - 22

Trustee		The Master, Wardens	The Master, Wardens	and Commonalty ofthe Art or Mistery ofSalters'	and Commonalty ofthe Art or Mistery ofSalters'
		London
Bankers		Lloyds Bank pic
		Threadneedle Street,		London
Solicitors		Pinsent Masons LLP
		London
Investment	Manager	Newton Investment	Management		Limited
Auditors		Saffery Champness	LLP
		71 Queen Victoria Street
		London
		EC4V4BE
Clerk to the Trustee		Mr TD Smith
		Enquiries about the	Charity should		be addressed to:
		The Salters' Company
		Salters' Hall
		4 London Wall Place
		London
		EC2Y5DE
Registered	Charity No.	328463
Date ofregistration:		7 December 1989

			Unrestricted	Unrestricted	funds		Restricted funds	Restricted funds
										6-Month
									Year	period
						Festivals			Ended 30	Ended
			General	Centenary		of	Chemistry	Technicians	June	30June
		Note	Fund		Fund	Chemistry K	Club f	Network f	2022 f.	2021f
Income from
Donations and
legacies			546,125		66,977				613,102	240,237
Charitable activities		3	6,024			5,175			11,199	264
Investment income		4	2,099		15,264				17,363	6,401
Total income			554,248		82,241	5,175			641,664	246,902
Expenditure	on:
Raising funds					42,518				42,518
Charitable
activities:
-Curriculum
Development	&
Awards			230,464						230,464	26,386
- Festivals of
Chemistry					124,316	20,175			144,491	180,506
-Chemistry Club					83,815				83,815	63,399
- Alumni			8,973						8,973	21,382
- Ambassadors			16,728						16,728	2,154
-Public Programme			213,133						213,133	12,194
Total expenditure		6	469,298		250,649	20,175			740,122	306,021
Net operating
(expenditure)fincome			84,950		(168,408)	(15,000)			(98,458)	(59,119)
Transfer between
funds		11	(26,000)			26,000
Net investment	gains J
(losses)			(3,772)		(12,262)				(16,034)	56,377
Net income and net
movement in	funds		55,178		(180,670)	11,000			(114,492)	(2,742)
Funds at I Jan 2021
/ I Jul 2021			176,408		701,208	15,000		4,577	897,193	899,935
Funds at 30June		11	231,586		520,538	26,000		4,577	782,701	897,193

			Note	2022	2021
				f	f
Fixed assets
Listed investments			8	774,101	790,136
Investment in subsidiary			13	1	1
				774, 102	790,137
Current assets
Debtors				25,808	2,148
Cash				222,758	291,490
Total current assets				248,566	293,638
Current liabilities
Creditors due within		1 year	10	~239,967)	~)-3,789)
Net current assets				8,599	167,849
Creditors due & 1 year			10		(60,793)
Net assets				782,701	897,193
Tbe funds ofthe Charity
Unrestricted fund
General fund				231,586	176,408
Centenary Fund				520,538	701,208
				752,124	877,616
Restricted fund
Salters' Festivals ofChemistry			11	26,000	15,000
Salters' Chemistry	Clubs		11
Salters' Technician	Networks		11	4,577	4,577
Total Charity Funds				782,701	897,193

								6month
								period to30
							2022	June 2021
							f	f
Cash flows from operating activities:
Net cash provided by operating	activities			(Note A)			(86,095)	(135,801)
Cash flows from investing activities:
Dividends and interest from investments							17,363	6,401
Movement in investment cash								13,000
Purchase oflisted investments								(13,000)
Proceeds from sale ofinvestments								(1)
Net cash provided by investing	activities						17,363	6,400
Change in cash and cash equivalents		in the	period				(68,732)	(129,401)
Cash and cash equivalents at the beginning			ofthe period				291,490	420,891
Cash and cash equivalents at the end		ofthe	period				222,758	291,490
Note A - reconciliation ofnet income		to net	cash flow from	operating	activities
								30June
							2022	2021
							f	f
Net income for the year (as per	the
statement offinancial activities)							(114,492)	(2,742)
Adjustments for:
(Gains)/losses on investments							16,034	(56,377)
Dividends and interest from investments							(17,363)	(6,401)
(Increase)/decrease in debtors							(23,659)	(1,908)
(Decrease)/increase in creditors							53,385	68,373)
							(86,095)	(135,801)
Analysis ofchanges in net debt
				At start period	of	(	ash flows	period
Cash				291,490			68,732)	222,758
Total				291,490			68,732	222,758

								6month
								period to
								30June
2	Donations	and legacies					2022f	2021f
	Donation	from		Salters' Company			546,125	229,500
	Donations	from members
	investment			into Centenary		funds - capital	1,875
	unrestricted						65,102	10,737
	restricted		expenditure
							613,102	240,237
								6 month
								period to
								30June
3	Income from ~Shi			charitable	activities		2022f	2021f
	Salters' Festivals ofChemistry						5,175
	Fees
	Salters' Festivals ofChemistry
	Support for		activities				1,662
	Attendance		fees				4,362	264
							11,199	264
								6 month
								period to
								30June
4	Income from			investments			2022 f	2021f
	Dividends	received					17,363	6,401
							17,363	6,401

4	Income from investments
	Dividends received

Expenditure
											6 month
						Direct expenses	Publicity	Governance	Support	2022	period to 30June
											2021
											f
Charitable activities
Curriculum Development				&Awards		83,162	65,179	1,767	80,357	230,464	26,386
Festivals ofChemistry						72,699		1,544	70,247	144,491	180,506
Chemistry Club						42,171		896	40,748	83,815	63,399
Alumni						4,514		96	4,362	8,973	21,382
Ambassadors						8,417		179	8,133	16,728	2,154
Public Programme						107,236		2,278	103,619	213,133	12,193
Costs ofdevelopment		generating
voluntary income									42,518	42,518
						318,199	65,179	6,760	349,984	740,122	306,020
Prior period expenditure						Direct expenses	Publicity	Governance	Support	202l	31 December 2020
											f
Charitable activities
Festivals ofChemistry						105,321		5,366	69,819	180,506	111,712
Curriculum Development			&Awards			7,785	10,859	397	7,345	26,386	297,966
Chemistry Club						54,588		2,781	6,030	63,399
Public Programme						8,108		413	3,672	12,193
Alumni						239		12	21,131	21,382
Ambassadors						719		37	1,398	2,154
Costs ofgenerating	voluntary			income							423
						176,760	10,859	9,006	109,395	306,020	410,101
											6month
										period to 30
Total expenditure										2022	June 2021
										f	f
Total expenditure		is stated		atter charging:
Salters' Company		salary	recharge						240,029		100,496
Salters' Company	accommodation				recharge					67,351	8,899
Audit fee										5,350	8,204

						6 month
						period to 30
					2022	June 2021
	Headcount at period end				6	4
	Full time equivalent staff			to run the Institute	4.7	3.2
8	Listed investments				2022	2021
						f
a)	The Centenary	Fund
1)	Stock exchange	securities		at market value	659,723	671,986
	Deposits with Newton				69	69
	30June				659,792	672,055
2)	Market value at	1 July	2021 /1 January 2021		671,986	609,549
	Additions					13,000
	Disposals				(1)	(50)
	Net investment	gain/(loss)			(12,262)	49,487
	Market value at	30June			659,723	671,986
	Historic cost				366,729	366,729
b)	The Salters' Institute		General Fund
1)	Stock exchange	securities		at market value	114,309	118,081
	30June				114,309	118,081
2)	Market value at	1 July	2021 /1 January 2021		118,081	111,191
	Additions
	Disposals Net investment	gain/(loss)			~3.7723	6,890
	Market value at	30June			114,309	118,081
	Historic cost				78,710	78,710
	Total listed investments			at30June	774,101	790,136

	Investments held at 30June considered	Investments held at 30June considered	Investments held at 30June considered	material	in the context of	2022	2021
	the market value ofthe portfolio are:					f	f
	Newton Global Dynamic Bond					18,481	20,471
	Newton Growth and	Income Fund	for Charities			755,551	769,596
9	Debtors
						2022 f	2021f
	Other debtors					25,808	2,148
10	Creditors
						2022	2021
						f
	Accruals and other creditors					131,079	180,205
	The Salters' Management Company		Ltd			108,888	6,377
						239,967	186,582
	Creditors: Amounts	falling due within		one year		239,967	125,789
	Creditors: Amounts	falling due between 2-5			years		60,793
						239,967	186,582
	Included under other	creditors are	grant	commitments.
	Balance at 1 July 2021 / 1 January		2021			134,428	239,046
	Grants paid					(91,987)	(104,618)
	Grants awarded
	Balance at 30June					42,441	134,428

					Investment
		Balance	Incoming	Resources	Gains(	Net	Balance 30
		I Jul 202I	Resources f	Expended	(Losses)	Transfers	June 2022
Unrestricted funds
General Fund		176,408	554,248	(469,298)	(3,772)	(26,000)	231,586
Designated funds
Centenary Fund
-Capital Fund		630,856	66,977	(165,033)	(12,262)		520,538
-Income Fund		70,352	15,264	(85,616)
		701,208	82,241	250,649)	(12,262)		520,538
Total unrestricted	funds	877,616	636,489	(719,947)	(16,034)	(26,000)	752,124
Restricted funds
Salters' Festivals of
Chemistry		15,000	5,175	(20,175)		26,000	26,000
Salters' Chemistry	Clubs
Salters' Technician
Networks		4,577					4,577
Total restricted funds		19,577	5,175	(20,175)		26,000	30,577
Total Funds		897,193	641,664	(740,122)	(16,034)		782,701

					Investment
		Balance	Incoming	Resources	Gains l	Net	Balance 30
Prior Period		I Jan 2021	Resources	Expended	(Losses)f	Transfers	June 2021 s
Unrestricted funds
General Fund		144,553	230,797	(62,115)	6,890	(143,717)	176,408
Designated funds
Centenary Fund
-"Capital" Fund		570,632	10,737		49,487		630,856
-"Income" Fund		64,984	5,368				70,352
		635,616	16,105		49,487		701,208
Total unrestricted	funds	780,169	246,902	(62,115)	56,377	(143,717)	877,616
Restricted funds
Salters' Festivals of
Chemistry		73,309		(180,506)		122,197	15,000
Salters' Chemistry	Clubs	41,880		(63,399)		21,520
Salters' Technician
Networks		4,577					4,577
Total restricted funds		119,766	-	(243,905)		143,717	19,577
Total Funds		899,935	246,902	(306,021)	56,377		897,193

Split ofnet assets between	funds	funds
	Unrestricted		Restricted	Total	Funds
			Festival
			of
	General	Centenary	Chemistry		30June
	Fundf	Fund	&otherf	2022f	2021f
Investments	114,309	659,792		774,101	790,136
Net current assets Creditors ) 1 year	117,277	(139,254)	30,577	8,600	167,850 60,793
	231,586	520,538	30,577	782,701	897,193
Prior period	Unrestricted		Restricted	Total	Funds
			Festival
			of		31
	General	Centenary	Chemistry		December
	Fund	Fundf	&otherf	2021f	2020f
Investments	118,081	672,055		790,136	733,758
Net current assets Creditors ) 1 year	119,120 60,793)	29,153	19,577	167,850 60,793	217,971 46,794)
	176,408	701,208	19,577	897,193	899,935

							6 month
							period ended
		Gcnernt	Ccntenery	Festlvcls	Chemistry	Tcchntclons	30June
	Note	Fundf	Fundf	ofChcmhtryf	Club f	Network	sett
Income from
Donations and legacies		229,500	10,737				240,237
Charitable activities		264					264
Investment income		1,033	5,368				6,401
Total income		230,797	16,105				246 902
Expenditure on:
Raising funds
Charitable activities:
- Curriculum Development
&Awards		26,386					26,386
Development projects
Festivals ofChemistry				180,506			180,506
Chemistry Club					63,399		63,399
Alumni		21,382					21,382
Ambassadors		2,154					2,154
- Public Programme		12,193					12,193
Total expenditure		62,115		180,506	63,399		306,021
Net operating income/(expenditure)		168,682	16,105	(180,506)	(63,399)		(59,119)
Transfer between funds		(143,717)		122,197	21,520
Net investment (losses)/gains		6,890	49,487				56,377
Net income and net movement		31,855	65,592	(58,309)	(41,879)		(2,742)
in funds
Funds at 1 January 2021		144,553	635,616	73,309	41,880	4,577	899,935
Funds at 30June 2021	ll	176,408	701,208	15,000	0	4,577	897,193