THE WORSHIPFUL COMPANY OF INFORMATION TECHNOLOGISTS CHARITY
Financial health, per its FY2024 accounts
The accounts state that the charity generated a surplus of £214,527 for the year ended 31 December 2024, driven by a net gain on investments of £269,684. Per the trustees' report, unrestricted funds stood at £1,107,556, which the trustees consider to be above the minimum level required by their reserves policy, maintaining positive cash flow throughout the period.
What the accounts disclose
“It is the policy of the WCIT Charity to maintain its free reserves at a level to enable it to be administered efficiently, to meet its short-term expenditure requirements, and have adequate resources to fund its charitable activities and projects, i.e. hold free reserves sufficient to cover up to six months’ forward activity.” — page 9
“As stated in note 2.15, the Charity is charged an appropriate proportion of salary costs and shared costs by the Livery Company. During the year, the total of these costs was £144,273 (2023: £154,126). As stated in note 2.15, the Charity is charged an amount of shared costs by the Livery Company. During the year, the total of these costs was £14,444 (2023: £9,052). In addition, the Charity incurs some costs on behalf of the Livery Company which are recharged. During the year, the total costs recharged, inclusive of VAT, was £35,196 (2023: £46,696). During the year, Trustees made donations of £3,120 (2023: £3,235) to the Charity. During the year, surpluses from some Livery Company Panel events were donated to the Charity, the total of these donations was £18,914 (2023: £7,812). During the year, a donation of £30,000 (2023: £NIL) was received from the Livery Company as a contribution towards a grant being made from the Charity to Hammersmith Academy. During the year, a grant of £6,160 (2023: £NIL) was made to a CIC whose CEO and Founder also acts as an Officer of the Livery Company. As at the year end, there was a balance of £363 (2023: £833) due from the Livery Company.” — page 26
Structured financials (annual return, FY ending 31/12/2021)
Trustees
- Bryan John Parkinson
- David Berry
- Gary Moore
- John Hugh Angel
- Matthew Nigel Eglin
- Maxine Barbara Holland
- Peter Cordery
- Robert Wirszycz
- Serena Aleem Chaudhry Pandey
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £423k | £478k |
| 31/12/2023 | £365k | £392k |
| 31/12/2022 | £375k | £472k |
| 31/12/2021 | £832k | £484k |
| 31/12/2020 | £316k | £392k |
Common questions
Is THE WORSHIPFUL COMPANY OF INFORMATION TECHNOLOGISTS CHARITY financially healthy?
The accounts state that the charity generated a surplus of £214,527 for the year ended 31 December 2024, driven by a net gain on investments of £269,684. Per the trustees' report, unrestricted funds stood at £1,107,556, which the trustees consider to be above the minimum level required by their reserves policy, maintaining positive cash flow throughout the period. Its FY2024 accounts were audited by Kreston Reeves LLP.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| DAWAT-E-HADIYAH TRUST (UNITED KINGDOM) | 1 | £21.1m |