What does being a ‘modern’ Livery Company mean?

Livery companies trace their roots back to the medieval guilds who were responsible for the protection and promotion of their individual trades in the City of London.  Any company granted Livery status after 1932 is known as a ‘modern’ Livery company even if it was formed before then or its trade pre-dates the 1930s.

The first of the ‘modern’ Livery companies is the Honourable Company of Master Mariners who were granted Livery status in 1932.  They are ranked number 78 in the order of precedence for the City of London Livery companies.  The Worshipful Company of Information Technologists is ranked number 100.