In common with many other charities and businesses the Company has a Finance and General Purposes Committee. meets about eight times to year to cover a whole range of Company activity.
The major job is to maintain oversight of the Company's finances, both those which are charitable and also what is known in the Company as corporate. That is the funds for the day to day management of the Company and the Hall, including our substantial catering business. This part of our activity pays tax but, of course, can contribute surpluses to charity. Additionally the Committee has oversight of a huge range of other activities.
The Committee has for some years been chaired by Past Master David Handley and its members include Past Masters Peter Bottomley, Graham Zellick, Master Warden Tony Walker, Assistant David Chalk and Liverymen Philip Beddows, Nigel Maud and Ben Padovan.
The agenda for Wednesday's meeting was typical in its variety. It included:
An update on Past Master Graham Zellick's Almshouse Review
Rationalising the Company ownership of our share in the Mark Lane island site. Hopefully after many years as a boarded up eyesore near Fenchurch Street Station it is, with a fair wind, about to go forward to substantial redevelopment. As it is still somewhat speculative the charity share is being bought out by corporate and the charity's share is planned to be invested in a petrol station in Wapping, not quite so glamorous but it brings in a secure income.
Reviewing the Company's risk register and the analysis arising from it.
Taking an overview of the catering operation. This is a growing business with John Freestone and his team turning over nearly £2million annually.
In summary a lot of useful work done to maintain the Company on an even keel and ensure its successful development.
Being Descriptions of and General Observations on the Master's Year by Major General Adrian Lyons, Master of the Worshipful Company of Drapers of London: July 2010 to July 2011
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