2021-12-31-accounts

etwork charities	provided them with the followin	g income:
		2021	2020
			F
Royal Engineers Association Institution of Royal Engineers Royal Engineers Museum		389,428 192,105 46,100	361,829 184,442 48,800

Trustees authorised	the following	grants	in 2021:
				2021	2020
RE Sports 8 Games The Sapper Magazine Esprit de Corps				248,449 56,012 66,426	E 264,029 51,542 81,197

Risk	Consequence	Impact	Likelihood	Mitigation/Preventative Action
			ITrend
Failure to generate sufficient income to cover planned / known expenditure	~ Failure to deliver outputs ~ Failure to meet charitable objects ~ Failure to sustainably finance our people ~ Members withdrawing from RE DPS ~ Loss ofcredibility and reputation ~ Degradation of existing capital / investments	Medium	Low	~ Robust financial reserves policy and prudent investment ~ Monitor Corps manning strength and contributions to RE DPS (Reg and Res) to identify trends ~ Produce accurate monthly FOOs ~ Link budgets to business planning and Charitable Objects ~ Promote legacy giving and donations ~ Ensure max long-term occupancy of Corps property portfolio minimising 'void' penods
Significant reduction in Public funding	~ Inability to deliver Chief Royal Engineer's mandated outputs ~ Corps' charities forced to fund additional staff costs ~ Inability to preserve and maintain Regimental identity and resilience	High	Low	~ Improve financial planning and forecasting ~ Promote sponsorship for Sapper Sport ~ Monitor financial reserves policy ~ Continue to promote RE Reserves Days Pay Scheme
	~ Over-reliance on Colonels
	Commandant

				Unrestricted	Restricted	Total	Total
				funds	funds	funds	funds
			Note	2021	2021	2021	2020
Income and endowments		from:
Donations and legacies Other trading activities Investment income Charitable activities			3 7, 8 9 10	767,468 245,901 336,117 4,200		767,468 245,901 336,119 4,200	738,102 303,077 312,826 2,450
Total income				1,353,686	2	1,353,688	1,356,455
Expenditure on:
Raising funds Charitable activities			8 11	218,724 953,284	1,380	218,724 954,664	252,207 959,007
Total expenditure				1,172,008	1,380	1,173,388	1,211,214
Net income/(expenditure) before gains and losses on investments				181,678	(1,378)	180,300	145,241
Net gains on investments Net gains on revaluations		oftangible		796,198		796,198	403,643
fixed assets							38,260
Net movement in funds	for the year			977,876	(1,378)	976,498	587,144
Total funds at 1 January	2021			10,449,210	16,997	10,466,207	9,879,063
Total funds at 31 December 2021				11,427,086	15,619	11,442,705	10,466,207

As at 31 Dece	mber	2	021
						2021		2020
				Note				F
Fixed assets
Tangible assets				24		243,046		252,259
Investments				25		10295380		8,619,182
Investment properties				26		640,000		640,000
						11,178,426		9,511,441
Current assets
Stocks				27	71,148		74,594
Debtors				28	179,197		171,021
Cash at bank	and	in	hand		1,389,856		899,849
					1,640,201		1,145,464
Creditors: amounts			falling due within one				(190,698)
year
Net current	assets					264,279		954„766
Net assets						11,442,705		10,466,207
Charity Funds
Restricted funds				30		15,619		16,997
Unrestricted	funds			30		11,427,086		10,449,210
Total funds						11,442,705		10,466,207

Royal Engineers Central Charitabl	e Trust	e Trust
Consolidated Statement of Cash	Flows
For the year ended 31 December	2021
			Note		2021	2020
Net cash used in operating activities					1,040,542	138,736)
Cash flows from investing activities
Interest and dividends Purchase oftangible fixed assets Purchase offixed asset investments			9 24 25		336,119 (6,654) (880,000)	312,826 (36,468)
Cash provided by (used in) investing		activities			550,535	276,358
Cash used in financing activities
Increase (decrease) in cash and cash equivalents in the year					490,007	175,882
Cash and cash equivalents at the	beginning		ofthe year		899,849	723,967
Total cash and cash equivalents	at the end ofthe year				1,389,856	899,849
Analysis ofchanges in net debt			At	31Jan		At 31 Dec
				2021 P.	Gashflows	2021f
Cash and cash equivalents Cash			899,849		490,007	1,389,856

th	e year ende	d 31 December 20	21
				Unrestricted	Restricted	Total	Total
				funds	funds	funds	funds
				2021	2021	2021	2020
				F	f	F	E
3	Donations	and legacies
	Subscriptions Donations Legacies Donated services and facilities Government Grants receivable		(Note 4) (Note 5) (Note 6)	431,107 95,373 234,070 6,918		431,107 95,373 234,070 6,918	403,557 93,838 5,000 223,292 12,415
				767,468		767,468	738,102

4 Subscriptions
Serving officers' subscriptions Retired officers' subscriptions Soldiers' subscriptions Tax refund - Retired Officers 8, Reserves Reserves DPS WOs' 8 SNCOs' (5%subscription) The Sapper Magazine	82,726 12,999 301,514 1,458 5,189 9,052 18,169	82,726 12,999 301,514 1,458 5,189 9,052 18,169	80,106 11,039 281,723 1,312 4,892 8,757 15,728
	431,107	431,107	403,557
5 Donations &Grants
General Commercial Donations WOs' 8 Sgts' Silver Fund Comms Hub	4,606 12,067 78,700	4,606 12,067 78,700	972 166 1,950 90,750
	95,373	95,373	93,838
6 Donated services and facilities
Gas Electricity Water and sewage Community charge Administration utilities MOD salaries Administration salaries	932 1,102 446 5,574 764 182,543 42,709	932 1,102 446 5,574 764 182,543 42,709	925 1,089 440 5,519 748 175,642 38,929
	234,070	234,070	223,292

				Unrestricted	Restricted	Total	Total
				funds	funds	funds	funds
7 Other trading	activities		-RECCT	2021	2021	2021	2020
Advertisements Miscellaneous	&	graphic	sales	1,950 45		1,950 45	1,229 44
Project Funding				15,542		15,542	61,723
				17,537		17,537	62,996
8 Other trading	activities		-RECE Ltd
Income
RECE Ltd Sales				228,364		228,364	240,081
Expenditure
Cost ofsales Staff costs Postage &telephone Printing &stationery ITcosts Miscellaneous				130,351 51,852 23,345 2,114 4,667 613		130,351 51,852 23,345 2,114 4,667 613	155,837 53,885 24,812 2,345 1,800 238
Cardnet terminal Bank charges		services		3,464 302		3,464 302	3,608 360
Depreciation				115		115	165
Insurance Audit fee				1,504 172		1,504 172	1,539 100
Advertising				225		225	7,518
				218,724		218,724	252,207
				9,640		9,640	12,126

Dividends Lloyds bank interest	312,565 245		312,565 247	292,876 305
Kitchener Properties	23,307		23,307	19,645
	336,117	2	336,119	312,826

		Direct costs	Support costs	Total funds	Total funds
		2021	2021	2021	2020
11	Analysis of expenditure by activities Burgoyne House (Note 12) Sports 8 Games (Note 13) Heritage (Note 14) Esprit de Corps (Note 15) RE HQ Mess (Note 16) Comms Hub (Note 17) WOs' &Sgts' (Note 18) RE Corps Enterprises (Note 19) Day's Pay Scheme (Note 20)	E 3,192 248,448 91,100 66,425 28,989 56,012 710	47,474 84,804 182,148 20,408 71,050 53,904	E 3,192 295,923 91,100 151,229 28,989 238,160 21,118 71,050 53,904	43,522 307,996 48,800 254,657 30,355 135,214 19,871 68,567 50,025
		494,876	459,788	954,664	959,007

12 Burgoyne House Direct costs: General Maintenance Land Rent Gas contract Depreciation			F 145 21 331 2,695	F 40,469 21 337 2,695
			3,192	43,522
13Sports &Games Direct costs: RE Sports Board Refund sports grant from previous		year	F 249,209 (761)	F 264,029
			248,448	264,029
Support costs: Audit Fee Insurance Administration IT Support Depreciation Donated services support costs Donated services MOD Salaries Staff costs			860 442 1,056 1,972 2,338 7,073 20,080 13,653	856 459 855 517 1,934 6,522 19,321 13,503
			47,474	43,967
			295923	307,996
14 Heritage Direct costs: RE Museum RE Museum Dockyard RE Museum Project	Rent		f 38,000 8,100 45,000	F 38,000 10,800
			91 100	48,800

r the year ended 31 D	ecember 2021
		Total	Total
		funds	funds
15 Esprit de Corps		2021	2020
Direct costs:			E
Donations and presentations Other Corps events Corps entertainment Project Funding Colonels Comdt		909 10,839 45,934 8,144 763	2,076 5,639 39,476 24,008 270
Unit grants Refund of previous Communications	years' grant	1,380 (1,544)	1,025 (125) 8,828
		66425	81 197
Support costs:
Audit fee Insurance		1,720 883	1,712 917
Administration IT Support Depreciation Donated services support costs Donated services MOD Salaries Staff costs		2,421 3,944 4,676 14,146 40,159 16,855	2,057 1,033 5,777 13,044 38,641 110,279
		84,804	173,460
		151,229	254,657
HQ Mess
6 Direct costs:
Mess Secretary salary		28,989	30,355

tes to the financial statements theearended31December 2021
y	Total	Total
	funds	funds
	2021	2020
17 Comms Hub
Direct costs: Printing &distribution Miscellaneous	53,749 2,263 56,012	51,542 51,542
Support costs: Audit fee Insurance Administration IT support Depreciation Donated services support costs Donated services MOD Salaries Staff costs	860 442 1,327 5,755 3,705 7,514 29,207 133,338	856 459 884 1,597 2,444 6,958 28,103 42,371
	182148	83,672
	238,160	135,214
18 WOs' & Sgts' Fund
Direct costs: Silver Repairs Individual E2 Grants	710	950 200
	710	1,150
Support costs: Audit Fee Insurance Administration Miscellaneous IT support Donated services support costs Donated Services MOD salaries Staff costs	860 442 1,056 56 1,972 6,531 9,127 364	856 459 855 850 517 5,987 8,782 415
	20,408	18,721
	21,118	19,871
19 RE Corps Enterprises Ltd
Support costs: Donated services support costs Donated services MOD Salaries Staff costs	8,837 56,588 5,625	8,266 54,449 5,852
	71,050	68,567

						Total	Total
						funds	funds
						2021	2020
20	Day's Pay Scheme
	Support costs:
	Audit Fee Insurance					860 442	856 459
	Administration ITsupport Depreciation Donated services support costs Donated services MOD Salaries Staff costs					1,056 1,972 2,338 7,426 27,381 12,429	855 517 1,934 6,871 26,346 12,187
						53,904	50,025
21	Net Income I(Expenditure)
	This is stated after charging:
	Depreciation oftangible fixed assets: -owned by the charitable group Auditor's remuneration During the year, no Trustees received any remuneration					15,752 5,160 (2020: ANIL).	E 8,792 4,800
	During the year, no Trustees received		any benefits		in kind (2020: ANIL).
	Trustees received reimbursement	ofexpenses		amounting		to ANIL in the current year (2020;NIL)

Notes to the financial statements
For the year ended 31 December	2021								Total	Total
									funds	funds
									2021	2020
23 Staff costs
Staff costs were as follows: Wages and salaries Social security costs Other pension costs									231,685 13,271 18,149	188,695 13,095 13,172
									263,105	214,962
The average monthly number of employees					during the	year was	as follows:		No.	No.
Management and administration RECE Ltd		ofthe		charity					6 4	6 4
									10	10
The total employment benefits		including		employer pension contributions				ofthe key	management
personnel were F22,306 (2020: F14,742).
The number of employees whose pension costs) exceeded F60,000			benefits was:		(excluding	employer		2021 No	2020 No
In the band F60,001 -F70,000
24 Tangible fixed assets Group			Shop fixtures, fittings and equipment F			General fund F	WOs'	&Sgts'Comms Hub fund property F f.		Total F
Cost or valuation At 1 January 2021 Additions At 31 December 2021					1,074 1,074	121,993 121993		174,642 174,642	22,160 6,654 28814	319,869 6,654 326 523
Depreciation At 1 January 2021 Charge for the year At 31 December 2021					844 115 959	53598 12,047 65645			13,168 3,705 16873	67,610 15867 83,477
Net book value
At 31 December 2021					115	56,348		174,642	11,941	243,046
At 31 December 2020					230	68,395		174,642	8,992	252,259

			General	WOs' 8 Sgts'	Comms Hub
			fund	fund	property	Total
	Charity			E		E
	Cost or valuation
	At 1 January 2021 Additions At 31 December 2021		121,993 121,993	174,642 174,642	22,160 6,654 28,814	318,795 6,654 325,449
	Depreciation
	At 1 January 2021 Charge for the year At 31 December 2021		53,598 12,047 65,645		13,168 3,705 16,873	66,766 15,752 82,518
	Net book value
	At 31 December 2021		56348	174,642	11941	242,931
	At 31 December 2020		68,395	174,642	8,992	252,029
25	Fixed asset investments
					Listed
	Group &Charity				securities
	Market value
	At 1 January 2021 Additions Disposals				8,619,182 880,000
	Revaluations				796,198
	At 31 December 2021				10295,380
	Historical cost				8831,319
	Group &charity investments	at market value comprise:
					2021	2020
						F
	Listed investments				10295380	8619182

26	Investment	properties	Freehold
			Investment
			Property
	Group &Charity		F
	Valuation At 1 January	2021	640,000
	At 31 December 2021		640,000
	Comprising Cost		640000

	existing u	se basis.
			Group		Charity
27	Stocks:		2021 E	2020 F	2021 E	2020 F
	Finished	goods and goods for resale	71 148	74,594
			Group		Charity
			2021	2020	2021	2020
28	Debtors: Amounts owed by group undertakings Other debtors		F 179,197	F 171,021	F 44,235 171,970	E 44,235 162,210
			179,197	171,021	216,205	206,445

Amou	nts falling due within o	ne year
		Group 2021	2020	Charity 2021	2020
		F	F		F
Other	creditors	1,375,922	190,698	1,358„926	150,627
		1,375922	190,698	1,358 926	150,627

rthe year ended 31 Decem	rthe year ended 31 Decem	ber 2021
30 Statement offunds
Current Year		Brought Forward	Income	Expenditure	Transfers in/out	Gains/ (Losses)		Carried Forward
							E
Designated funds
Comms Hub Project Funding		8,992 37,715	98,864 15,542	(238,160) (8,144)	142,245			11,941 45,113
General funds		46,707	114,406	246,304	142,245			57,054
RE Central Charitable Trust		10,157,730	989,797	(706,270)	(142,245)	796,198		11,095,210
WOs' 8 Sgts' Fund RECE Ltd		232,072 12,701	21,119 228,364	(710) (218,724)				252,481 22,341
		10,402,503	1,239,280	(925,704)	(142,245)	796,198		11,370,032
Total Unrestricted	funds	10,449,210	1,353,686	(1,172,008)		796,198		11,427,086
Restricted funds
DUTF		16,997		(1,380)				15,619
Total offunds		10,466,207	1,353,688	1,173,388		796,198		11,442,705
Prior Year		Brought Forward	Income	Expenditure	Transfers in/out	Gains/ (Losses)		Carried Forward
							E
Designated funds
Comms Hub		832	17,001	(135,214)	126,373			8,992
Project Fund			61,723	(24,008)				37,715
General funds		832	78,724	159,222	126 373			46 707
RE Central Charitable Trust		9,594,151	1,014,525	(766,476)	(126,373)	441,903		10,157,730
WOs' &Sgts' Fund RECE Ltd		241,236 24,827	10,707 240,081	(19,871) (252,207)				232,072 12,701
		9,860,214	1,265,313	(1,038,554)	(126,373)	441,903		10,402,503
Total Unrestricted	funds	9,861,046	1,344,037	(1,197,776)		441 903		10449 210
Restricted funds
DUTF		18,017	5	(1,025)				16,997
Total offunds		9,879,063	1,344,042	1,198,801		441 903		10,466,207

31	Analysis of net assets between Current Year	funds	Unrestricted Funds	Restricted Funds	Total funds	Total funds
			2021f	2021	2021f	2020 E
	Tangible fixed assets Fixed asset investments Investment properties Current assets		243,046 10,295,380 640,000 1,624,582	15,619	243,046 10,295,380 640,000 1,640,201	252,259 8,619,182 640,000 1,145,464
	Creditors due within		(1,375,922)		(1,375,922)	(190,698)
	one year
			11427 086	15,619	11,442 705	10,466,207
	Analysis of net assets between Prior Year	funds	Unrestricted Funds	Restricted Funds	Total funds	Total funds
			2020 K	2020f	2020	2019 E
	Tangible fixed assets Fixed asset investments Investment properties Current assets		252,259 8,619,182 640,000 1,128,467	16,997	252,259 8,619,182 640,000 1,145,464	230,740 8,215,539 601,740 972,544
	Creditors due within		(190,698)		(190,698)	(141,500)
	one year
			10,449 210	16,997	10,466 207	9,879,063

33	Principal subsidiaries
	Company name		Country		Percentage Shareholding
	Royal Engineers Corps Enterprises		United Kingdom		100
34	Reconciliation of net movement in funds to net
	cash flow from operating activities
				Total	Total
				funds	funds
				2021	2020
	Net movement in funds			976,498	587,144
	Add back depreciation charge			15,867	14,949
	Deduct interest income shown in investing activities Deduct gains / add back losses on investments Losses on revaluation oftangible fixed assets Deduct gain on revaluation of investment property Decrease (increase) in stock Decrease (increase) in debtors Increase (decrease) in creditors			(336,119) (796,198) 3,446 (8,176) 1,185,224	(312,826) (403,643) (38,260) (38,260) 9,734 6,772 49,198
	Net cash used in operating activities			1 040 542	138,736