Identity area
Type of entity
Authorized form of name
Parallel form(s) of name
Standardized form(s) of name according to other rules
Other form(s) of name
Identifiers for corporate bodies
Description area
Dates of existence
History
The 1333 ordinances of the Carpenters' Company throw some light on the early financial matters of the Fraternity. The four wardens who governed the Fraternity looked after the 'common' box, money from which was used to assist members in time of need, and they would have overseen the payments of quarterage (quarterly subscriptions) by members, and any fines imposed, such as the pound of wax payable on absence from certain masses. The Company's earliest accounts date from 1438 and form an almost unbroken series to the present day. Regularly appearing in the accounts were quarterage paid by the members, sums paid on admittance to the freedom of the Company, rents from Company properties, fines imposed on members for misbehaviour and breaking the Company ordinances, payments for entertainments and the washing of linen.
The establishment of a Court of Assistants by the Company's ordinances of 1455 transferred the responsibility for important financial decisions to the Court, with the Master and Wardens acting as agents. On leaving office, the Master and Wardens presented their accounts to the Court who acted as auditors. The Company's income came from five main sources: quarterages, rents, fees for presenting apprentices to be bound to masters, fines and other fees payable under the ordinances, and other variable sources, such as bequests, donations and any special subscriptions raised, such as for the payment of Company charters. Expenses comprised ordinary payments made on a regular basis, such as pensions to alms-folk living at the Hall, the Beadle's, and later the Clerk's wages, housekeeping expenses for the Hall, hospitality and festivals and maintenance of properties. Occasional extraordinary payments were also a feature of the Company accounts, such as charges by the Crown for equipping soldiers or ships, the Lord Mayor's assessments for the relief of hardship in the City, and for legal expenses the Company incurred in disputes with other livery companies over craft control in the 17th century.