## ## |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|