The Livery Newsletter and Gazette Issue 26 Winter 2016 | Page 14

The Tobacco Pipe Makers and Tobacco Trade
Benevolent Fund
The lunch was deliciously catered by Mark Grove
The audited Annual Report and Financial Statements
for the year to 31 March 2016 may be accessed through
this link.
The highlights of the Financial Statements are:
• Total incoming resources were £453,639, down from
the previous year’s total of £637,856.
• Investment income was 2% higher at £224,475.
• Donations in 2015 benefited from the transfer of
assets valued at £204,172, representing the Bernhard
Baron Welfare Fund. On a like for like basis,
donations were 4% lower at £175,192, due to a oneoff reduction in the donation from British American
Tobacco to the Welfare Fund.
• Donations from Liverymen and Freemen rose
strongly to £26,000 due to an increase in the number
of donations and a prior year recovery of Gift Aid.

The Welfare Fund
• Relief and grants made by the Welfare Fund were
£16,847 lower at £191,331.
• Maintenance grants made by the Welfare Fund
were broadly in line with the prior year at £30,600
while pensions and general relief were 8% lower at
£68,999. One-off grants were significantly lower at
£29,593 (2015: £51,020) but Welfare Assistance rose
25% to £31,693. TV rentals and licences combined
with Christmas and birthday gifts were 17% higher at
£31,046.

The General Fund
• The funds available to the Trustees to make grants
to various charitable causes are determined by
the Annual Grant Target. The target is based on
investment income and regular donations less
governance costs. The Annual Grant Target was
£120,585 and grants made amounted to £108,700.
The Speech Language and Hearing Centre returned
a donation of £10,000, following a restructuring and
change of charitable status.
• The budget for the Master’s donations is derived
from the income generated by the Robert Freeman
Master’s Fund. The budget was set at £3,300 and
fully distributed.

and his team at Cook & Butler and we cracked
along at a made:
goodly pace. Our guests were admirably
Donations
introduced by Liveryman Fran Morrison and our
Sevenoaks
School
Principal
Guest,
Tim Wonnacott gave a500
generous and
very
humorous
reply to which I responded
Oxford
and Bermondsey
5,000initially
by
drenching
Youth
Club poor Tim in a glass of water - he was
very
kind Castle
about it
(sorryFoundation
Tim!). I was 10,000
very pleased
Arundel
Cricket
toGuildhall
show offSchool
the newly
found
Livery
Grant
of Arms
of Music and
15,000
and
Letters Patent which have been missing for many
Drama
years - our Clerk tenaciously sought them out, and
Barrow Farm Riding for
8,000
the new Immediate Past Master, Chris Allen, and his
the Disabled
IPM, Mark Gower-Smith have funded a beautiful reSheriffs' & Recorders'
Fund
5,000in frames
presentation
and they are
now resplendent
CCHFwith
All About
Kids
carved
tobacco
leaves (or close to);5,000
Sandra also
Pembroke
House
(Music)
10,000
located
a huge
banner
not seen since 1985
and Angus
Menzies,
Clerk
to the
Master Mariners15,000
and never shy
Pembroke
House
(Dance)
ofLondon
a challenge
saw to it that it was displayed
Regiment
2,500on the
Quarterdeck.
St Lawrence Jewry
1,000
Whilst
allYouth
this was
going on, apparently10,000
biblicalS Pinter
Project
style
downpours
were
being
had
all
over
London
Bobath Centre for Children with
5,000
-Cerebral
obliviousPalsy
to all that drama we ended our lunch
and
trooped back to the quarterdeck where
S3 Physics
3000 Coffee,
Cigars, and Cognac awaited us (I did mention that
Mark Evison Foundation
5,000
our Livery enjoyed dining on the High C’s..) and
Master's
Donations
3,300Jemma
which
seemed
to hit the mark – Liveryman
Other regular
grantsprovided the torpedo
4,400
Freeman
had kindly
cigars
Members’
1,000with our
and
had hadcharities
them placed in souvenir tubes
Crest
emblazoned
on
it.
Several
of
us
also
sported
Total charitable activities
108,700
a limited edition Livery Smoking hat - originally
conceived as a sort of shooting hat, it serves its
Investment performance
purpose so well as a “team” hat, that of the twenty
ordered,
but one
remained
by the close
of the
day!
Stock
markets
have
been particularly
volatile
during
Thank
you
to
the
Master
Mariners
for
allowing
us the
the last 12 months or so. The Trustees reviewed the
use of the venue,
to Tim
for being 2015
a perfect
Principal
investment
managers
in December
and received
presentations
four competing
It wasmy
Guest, and forfrom
everyone
attending firms.
and giving
decided
toacontinue
with Quilter Cheviot on the basis
year such
special start.
of their past investment performance and management
style. The unrealised losses of £205,532 recorded in the
accounts were broadly in line wit h market movements.
The Master
Since the EU referendum, the FTSE100 has risen
steadily as share prices benefited from the weaker
pound. By September, the balance sheet had grown
from £6.8 million to £7.4 million.

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