2023-06-30-accounts

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

Trustee		The Master, Wardens	and Commonalty	and Commonalty	and Commonalty	ofthe Art or Mistery of Salters'
		London
Bankers		Lloyds Bank pic
		Threadneedle Street,	London
Solicitors		Pinsent Masons LLP
		London
Investment	Manager	Newton Investment Management			Limited
Auditors		Saffery Champness
		71 Queen Victoria Street
		London
		EC4V 4BE
Clerk to tbe 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:		7December 1989

			l/nrestrtcted	funds	Restricted funds	Restricted funds
								Year
					Festivals		Year	Ended
			General	Centenary	of	Techaicians	Eaded 30	30June
			Fuad	Fuad	Chemistry	Network	June 2023	2022
	Note					8	8
Income from
Donations and legacies			527,751	46,252			574,003	613,102
Charitable activities			6,598		5,000		11,598	11,199
Investment income			3,639	15937			19576	17363
Total iacome			537,988	62,189	5,000		605,177	641.664
Expenditure on:
Raising funds				105,293			105,293	42,518
Charitable activities:
- Curriculum
Development Jt Awards			228,756				228,756	230,464
-Festivals ofChemistry				55,433	31,000		86,433	144,491
-Chemistry Club				68,532			68,532	83,815
-Alumni			21,349				21,349	8,973
-Ambassadors			41,206				41,206	16,728
-Public Programme			215,872				215,872	213,133
Total expenditure		6	507,183	229,258	31,000		767,441	740,122
Net operating (expenditure)/income			30,805	(167,069)	(26,000)		(162,264)	(98,458)
Net investment gains	/ (losses)		5,032	36875			41 907	16034)
Net income and net	movement	in
funds			35,837	(130,194)	(26,000)		(120,357)	(114,492)
Funds at 1 July 2022			231,586	520538	26,000	4,577	782,701	897,193
Funds at 30June		11	267,423	390344		4,577	662,344	782,701

		Note	2023	2022
Fixed assets
Listed investments		8	816,008	774,101
Investment in subsidiary		13	1	1
			816,009	774,102
Current assets
Debtors			67,389	25,808
Cash			145,215	222,758
Total current assets			212,604	248,566
Current liabilities
Creditors due within	1 year	10	366,269	~239,967
Net current assets			(153,665)	8,599
Creditors due & 1 year		10
Net assets			662.344	782 701
The funds ofthe Charity
Unrestricted fund
General fund			267,423	231,586
Centenary Fund			390,344	520,538
			657,767	752,124
Restricted fund
Salters' Festivals ofChemistry				26,000
Salters' Technician Networks			4,577	4,577
Total Charity Funds			662,344	782.701

						2023	2022
Cash flows from operating activities:
Net cash provided by operating	activities			(Note A)		(97,119)	(86,095)
Cash flows from investing activities:
Dividends and interest from investments						19,576	17,363
Movement in investment cash
Purchase oflisted investments
Proceeds from sale ofinvestments
Net cash provided by investing	activities					19,576	17,363
Change ia cash and cash equivalents		in the	period			(77,543)	(68,732)
Cash and cash equivalents at the beginning			ofthe period			222,758	291,490
Cash and cash equivalents at the end		ofthe	period			145,215	222 758
Note A - reconciliation ofnet income		to net	cash flow from	operating	activities
						2023	2022
Net income for the year (as per	the
statement offmancial activities)						(120,357)	(114,492)
Adjustments for:
(Gains)/losses on investments						(41,907)	16,034
Dividends and interest from investments						(19,576)	(17,363)
(increase)/decrease in debtors						(41,581)	(23,659)
(Decrease)/increase in creditors						126,302	53,385
						97,119	$6,095
Analysis ofchanges in net debt
				At start of period		Cashflows	At end of period
Cash				222 758		77,543	145215
Total				222 758		77,543	145,215

				2023	2022
Donation	from	Salters' Company		527,751	546,125
Donations	from members
investment		into Centenary	funds - capital		1,875
unrestricted				46 252	65,102
				574,003	613,102

3	Income from charitable	activities	2023	2022
	~8
	Salters' Festivals ofChemistry		5,000	5,175
	Fees
	Support for activities		1 335	1 662
	Attendance fees		5 263	4.362
			11,598	11.199
4	Income from investments		2023	2022
	Dividends received		19,576	17363
			19,576	17,363

Expenditure
	Direct
	expenses	Publicity	Governance	Support	2023	2022
Charitable activities
Curriculum Development k
Awards	90,819	31,514	2,832	103,591	228,756	230,464
Festivals ofChemistry	39,798		1,241	45,394	86,433	144,491
Chemistry Club	31,555		984	35,993	68,532	83,815
Alumni	9,830		306	11,213	21,349	8,973
Ambassadors	18,973		592	21,641	41,206	16,728
Public Programme	99,397		3,100	113,375	215,872	213,133
Costs ofDevelopment				105,293	105,293	42,518
	290,372	31,514	9,055	436,500	767,441	740,122

Prior period expenditure	Prior period expenditure	Direct expenses	Publicity	Governance	Support	2022	2021
Charitable activities
Curriculum Development k
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					42,518	42,518
		318,199	65 179	6,760	349,984	740,122	306,020
Total expenditure
						2023	2022
Total expenditure	is stated after charging:
gaiters' Company	salary recharge					412,219	321,146
Salters' Company	accommodation	recharge				74,919	81,927
Audit fee						8,450	5,350

								2023	2022
	Number ofstaff	to run the	Institute		at	the year end		8	8
	Number ofSslters' Ambassadors			at	the year end *			14	3
	Total Headcount	at period	end					22
	Full time equivalent staff		to run	the	Institute			6.2	5.2
	*Salters' Ambassadors, are chemistry					undergraduate	students	employed to support Salters' outreach activities.
8	Listed investments							2023	2022
									0
a)	The Centenary	Fund
I)	Stock exchange	securities	at market		value			696,598	659,723
	Deposits with Newton							69	69
	30June							696,667	659,792
2)	Market value at	I July						659,723	671,986
	Additions
	Disposals Net investment	gain/(loss)						(I) 36.873 ~72,262
	Market value at	30June						696,598	659,723
	Historic cost							366,729	366,729
b)	The Salters' Institute General			Fund
I)	Stock exchange	securities	at market		value			119,341	114,309
	30June							119,341	114,309
2)	Market value at	I July						114,309	118,081
	Additions
	Disposals
	Net investment	gain/(loss)						5,032	3 772
	Market value at	30June						119,341	114,309
	Historic cost							78,710	78,710
	Total listed investments		at 30	June				816,008	774,101

	Investments held at	30June considered	30June considered	material	in the context of	2023	2022
	the market value ofthe portfolio are:
	Newton Global Dynamic Bond					18,156	18,481
	Newton Growth and	Income Fund	for Charities			797,783	755,551
9	Debtors
						2023	2022
	Other debtors					67389	25 808
10	Creditors
						2023	2022
	Accruals and other creditors					139,635	131,079
	The Salters' Management Company		Ltd			226,634	108,888
						366,269	239,967
	Creditors: Amounts	falling due within		one year		366,269	239,967
	Creditors: Amounts	falling due between 2 - 5			years
						366,269	239967
	Included under other	creditors are grant		commitments.
	Balance at 1 July					42,441	134,428
	Grants paid						(91,987)
	Grants awarded
	Balance at 30June					42 441	42,441

Analysis ofmove	m	ents on fun	ds
						Investment
			Balance	Incoming	Resources	Gains /	Net	Balance 30
			IJul2022	Resources g	Expendedf	(Losses)	Transfers	June 2023
Unrestricted funds
General Fund			231586	537,988	507 183	5,032		267423
Designated funds
Centenary Fund
-Capital Fund			520,538	46,252	(213,321)	36,875		390,344
-Income Fund				15,937	15937
			520,538	62,189	229,258	36,875		390344
Total unrestricted		funds	752,124	600,177	736,441	41,907		657,767
Restricted funds
Salters' Festivals	of
Chemistry			26,000	5,000	(31,000)
Salters' Chemistry		Clubs
Salters' Technician		Networks	4,577					4,577
Total restricted	funds		30,577	5,000	(31,000)			4,577
Total Funds			782,701	605,177	767,441	41907		662344

						Investment
			Balance	Incoming	Resources	Gains /	Net	Balance 30
			IJul 2021	Resources	Expended	(Losses)	Transfers	June 2022
Prior Period			0	g
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			70352	15,264	85,616
			701,208	82,241	250,649	12,262		520,538
Total unrestricted		funds	877616	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

			Unrestricted funds	Unrestricted funds	~R'	~R'	sr	s
			Geneml	Centenary	Festivals	Chemistry			Teehnteians	Veer Ended 30
		Note	Fund f	Fund	efChemistry f		Clubf		Network f	June 2S22 f
Income from
Donations and legacies		2	546,125	66,977						613,102
Charitable activities		3	6,024		5, 175					11,199
Investment income		4	2,099	15464						17363
Total income			554248	82 241	5 175					641.664
Expenditure on:
Raising funds				42,518						42,518
Charitable activities:
- Curriculum Development	dt
Awards			230,464							230,464
-Development projects
-Festivals ofChemistry				124,316	20,175					144,491
-Chemistry Club				83,815						83,815
-Alumni			8,973							8,973
-Ambassadors			16,728							16,728
-Public Programme			213 133							213 133
Total expenditure			469,298	250 649	20 175					740 122
Net operating income/(expenditure)			84,950	(168,408)	(15,000)					(98,458)
Transfer between funds			(26,000)		26,000
Net investment (losses)/gains			3772	12262						16034
Net income and net movement			55,178	(180,670)	11,000					(114,492)
ia funds
Funds at 1 January 2021			176408	701 08	15000				4577	897 193
Funds at 30June 2021		11	231,586	520,538	26,000				4,577	782.701