INFORMAL LIVERY DINNER 10 NOVEMBER

The Livery of the Company is approximately 300 strong and is its senior members.  By ancient custom the Livery comes together to dine at the Hall on a number occasions each year.  The other ancient custom where the Livery in its robes - hence the name - paraded through the streets of London on notable festival days has long disappered into history.

There are now three Livery Dinners in the Company year that starts in late July. Two are major events: one in April where the Company entertains the Lord Mayor and Sheriffs.  Although with 108 livery companies and relentless overseas travel commitments we do not always entertain the Lord Mayor these days.  The other is the Election Dinner in July: see some of my earliest posts.

The third is a more low key affair.  Guests are not invited and the Livery dine rather more informally and with a lot less ceremony. This year's Informal Livery Dinner took place on Wednesday 10 November.

The after dinner speeches are also very curtailed and principally include a 'state of the nation' review by the Master of the Company. 

This year I thought I could be particularly positive. 

Drapers' Academy has opened.  Work on the new school buildings is at last underway.  Now we are started there is an opportunity for the Livery and Freedom of the Company to become engaged in a number of ways.  We need to share our success and experience with the Harold Hill community. 

Despite the unsettled and unsettling times our investment portfolio is doing very well and our assets are back at the highest levels we have seen over the last few decades.  A great deal of credit goes to Past Master John Padovan and the Investments Committee - I shall do a post on this vital group shortly - aided by our Director Finance, David Sumner, and Company Secretary, Priya Ponnaiyah.

Finally, I noted that the Almshouse Review Committee, under the leadership of Past Master Graham Zellick, is beginning to define the issues that need to be addressed to make progress.

In response Past Master David Addis, only recently and safely back from the southern Sudan where he was setting up a radio station, gave a most generous vote of thanks.  Its content was such that, as the saying goes, only my mothere would recognise the person described.

It is a pleasant position to be in to report such positive developments and, despite a difficult economic situation the Company is in a position to move forward in so many areas.

MUCH MORE INTERESTING THAN IT SOUNDS: FINANCE AND GENERAL PURPOSES COMMITTEE MEETING

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.

BANCROFT'S SCHOOL GOVERNORS' MEETING 21 SEPTEMBER

Bancroft's School, founded in 1737 by the Drapers' Company as trustees of Francis Bancroft's will, is today a highly successful co-educational independent school.  See http://www.bancrofts.org/ for further details.

The close links between the between the school and the Company continue on many levels.  One small manifestation of these ties is that two governors' meetings a year are held at the Hall.  Traditionally the Master is in attendance at these meetings.  In the past the Master was styled as the Visitor.  However when Professor Graham Zellick was Master last year he pointed out that this title raised some interesting and probably unresolvable legal issues.  So this year I attend in an untitled, and possibly a little uncertain, capacity.

The Chairman of Governors, who is always a Draper, is currently Past Master Stephen Foakes.  I was chairman of governors from 2003 to 2008 immediately before him.  Caroline Bonnor-Moris, Dr Colette Bowe and Craig Tallents are also Drapers' governors out of a total of some fifteen also drawn from London Borough of Redbridge, Essex County Council, the Old Bancroftians and the local community, some of whom have sent children to the school.

I had not attended a Bancroft's School meeting since November 2008 when I stood down to devote my time to Drapers' Academy.  It was heartening to see that the school still makes excellent progress under the leadership of the Head, Mary Ireland, and a whole range of intiatives that will continue to improve the school are being actively and enthusiastically developed by the governors and the senior leadership team.