2022-12-31-accounts - Royal Engineers Central Charitable Trust

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Supporting Network Charities	Supporting Network Charities
The historic Trustee arrangement nominated network charities provided		that allocates them with the		a percentage from the following income:		Payroll	Giving	Scheme	direct to
					2022				2021
					E				F
Royal Engineers Association Institution of Royal Engineers Royal Engineers Museum					393,571 219,940 50,000				389,428 192,105 91,100
Grants to Foster Esprit de Corps
Trustees authorised the following	grants		in 2022:
					2022				2021
					E
RE Sports &Games The Sapper Magazine Esprit de Corps					366,372 79,458 120,338				248,448 56,012 66,425
Publishing 'The Sapper' Magazine

		Consequence	Consequence	Impact	Likelihood	Mitigation/Preventative	Action	Action
					/ Trend
				Medium	Medlrlm
Failure to generate sufficient income to cover planned / known expenditure		~ Failure to deliver outputs ~ Failure to meet charitable objects ~ Failure to sustainably				~ Robust financial reserves policy and prudent investment ~ Monitor Corps manning strength end contributions to RE DPS (Regular and
		finance our people				Reserves) to identify trends
		~ Members withdrawing				~ Produce accurate monthly	FOOs
		from RE Days Pay	Scheme			~ Link budgets to business	planning
		(RE DPS)				and Charitable Objects
		~ Loss ofcredibility	and			~ Promote legacy giving snd donations
		reputation				~ Ensure max long-term occupancy		of
		~ Degradation ofexisting				Corps property porffolio minimising
		capital / investments				'void' periods
				High	M6d IIIIT1
Significant	reduction	~ Inability to deliver	Chief			~ Improve finanaal planning	and
in Public funding		Royal Engineer's mandated				forecasting
		outputs				~ Promote sponsorship for	Sapper
		~ Corps' charities forced to				Sport
		fund additional staff	costs			~ Monitor financial reserves	policy
		~ Inability to preserve and				~ Continue to promote RE	Reserves
		maintain Regimental	identity			Days Pay Scheme
		and resilience
		~ Over-reliance on	Colonels
		Commandant

Forthe year ended 31 D	ecember 202	2
			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
		Note	2022	2022	2022	2021
Income and endowments	from:
Donations and legacies		3	813,673		813,673	767,468
Other trading activities		7, 8	249,609		249,609	245,901
Investment income		9	381,417		381,422	336,119
Charitable activities		10	4,200		4,200	4,200
Total income			1,448,899	5	1,448,904	1,353,688
Expenditure on:
Raising funds		8	234,521		234,521	218,724
Charitable activities		11	1,116,049	15,624	1,131,673	954,664
Total expenditure			1,350,570	15,624	1,366,194	1,173,386
Net income/(expenditure) before gains and losses on investments			98,330	(15,619)	82,711	180,300
Net gains/(losses) on investments			(1,436,814)		(1,436,814)	796,198
Net gains on revaluations fixed assets	oftangible		106,329		106,329
Net movement in funds	for the year		(1,232,155)	(15,619)	(1,247,774)	976,498
Total funds at 1 January 2022			11,427,086	15,619	11,442,705	10,466,207
Total funds at 31 December 2022			10,194,931		10,194,931	11,442,705

						2022	2022		2021
				Note			E		F
Fixed assets
Tangible assets				24		227,356			243,046
Investments				25		8,858,566			10,295,380
Investment	properties			26		1,220,000			640,000
						10,305,922			11,178,426
Current assets
Stocks				27	62,217			71,148
Debtors				28	170,215			179,197
Cash at bank and		in	hand		675,863			1,389,856
					908,295			1,640,201
Creditors: year	amounts		falling due within one	29	(1,019,286)			(1,375,922)
Net current	assets					(110,991)			264,279
Net assets						10,194,931			11,442,705
Charihi Funds
Restricted funds				30					15,619
Unrestricted	funds			30		10,194,931			11,427,086
Total funds						10,194,931			11,442,705

					Note	Note		2022	2021
Net cash used in operating	activities					34		(621,744)	1,040,542
Cash flows from investing	activities
Interest and dividends								381,422	336,119
Purchase oftangible fixed assets									(6,654)
Purchase offixed asset investments									(880,000)
Cash provided by (used in) investing			activities					381,422	550,535
Cash used in financing activities
Increase (decrease) in cash	and cash
equivalents in the year								713,993)	490,007
Cash and cash equivalents	at the beginning			ofthe	year			1,389,856	899,849
Total cash and cash equivalents		at the end ofthe year						675,863	1,389,856
Analysis ofchanges in net	debt
					At	31	Jan		At 31 Dec
						2022		Gashflowe	2022
							8	E	8
Cash and cash equivalents
Cash					1,389,856			713,993)	675,863

			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
			2022	2022	2022	2021
			6	6	6	E
3 Donations and legacies
Subscriptions			433,885		433,885	431,107
Donations			78,295		78,295	95,373
Legacies			53,489		53,489
Donated services and facilities		(Note 6)	248,004		248,004	234,070
Government Grants receivable						6,918
			813,673		813,673	767,468
All Income from Donations	and Legacies was		unrestdcted in	2022 and 2021.
4 Subscriptions
Serving officers' subscriptions			83,161		83,161	82,726
Retired officers' subscriptions			12,437		12,437	12,999
Soldiers' subscd ptions			305,087		305,087	301,514
Tax refund - Retired Officers &Reserves			1,525		1,525	1,458
Reserves DPS			5,323		5,323	5,189
WOs' &SNCOs' (5'lo subscription)			8,894		8,894	9,052
The Sapper Magazine			17,458		17,458	18,169
			433,885		433,885	431,107
5 Donations &Grants
General			2,022		2,022	4,606
WOs' &Sgts' Silver Fund			1,523		1,523	12,067
Comms Hub			74,750		74,750	78,700
			78,295		78,295	95,373
6 Donated services and facilities
Gas			950		950	932
Electnaty			1,122		1,122	1,102
Water and sewage			453		453	446
Community charge			5,686		5,686	5,574
Administration utilities			779		779	764
MOD salaries			194,000		194,000	182,543
Administration salaries			45,014		45,014	42,709
			248,004		248,004	234,070

					Unrestricted	Restricted	Total	Total
					funds	funds	funds	funds
					2022	2022	2022	2021
7	Other trading	activities		-RECCT
	Advertisements				2,225		2,225	1,950
	Miscellaneous	&	graphic	sales	178		178	45
	Project Funding				9,873		9,873	15,542
					12,276		12,276	17,537
8	Other trading	activities		- RECE Ltd
					6	5
	Income
	RECE Ltd Sales				237,333		237,333	228,364
	Expenditure
	Cost ofsales				141,730		141,730	130,351
	Staff costs				52,849		52,849	51,852
	Postage &telephone				22,133		22 133	23,345
	Printing &stationery				2,885		2,885	2,114
	ITcosts				6,783		6,783	4,667
	Miscellaneous				388		388	613
	Cardnet terminal		services		4,144		4,144	3,464
	Bank charges				316		316	302
	Depreciation				115		115	115
	Insurance				1,483		1,483	1,504
	Audit fee				200		200	172
	Advertising				1,495		1,495	225
					234,521		234,521	218,724
					2,812		2,812	9,640

Investment	Investment	income
			5	6	5	5
Dividends			338,766		338,766	312,565
Lloyds bank		interest	1,173	5	1,178	247
Kitchener	&	Ebbsfleet Properties	41,478		41,478	23,307
			381,417	5	381,422	336,119

	(2021:8	312,821)and 65	was restricted (202	1:F2).
10	Income	from charitable	activities
	Burgoyne	House		4,200	4,200	4,200

r th	e year ended 31 Dece		mb	er 2022
						Direct costs	Support costs	Total funds	Total funds
						2022	2022	2022	2021
11	Analysis ofexpenditure			by activities		8			f
	Burgoyne House (Note		12)			6,045		6,045	3,191
	Sports &Games (Note		13)			366,372	63,591	429,963	295,923
	Heritage (Note 14)					50,000		50,000	91,100
	Esprit de Corps (Note	15)				120,338	87,200	207,538	151,229
	RE HQ Mess (Note 16)					30,037		30,037	28,989
	Comms Hub (Note 17)					79,458	165,302	244,760	238,160
	WOs' &Sgts' (Note 18)					11,284	21,521	32,805	21,118
	RE Corps Enterprises	(Note 19)					75,402	75,402	71,050
	Day's Pay Scheme (Note			20)			55,123	55,123	53,904
						663,534	468,139	1,131,673	954,664
	Expenditure on charitable			activities	was F1,131,672 (2021:2954,664) of which E1,116,048				was
	unrestricted (2021:6953,284) and				815,624 was restricted (2021:		81,380).
12	Burgoyne House Direct costs:							8	f
	General Maintenance							3,300	144
	Land Rent							21	21
	Gas contract							321	331
	Depreciation							2,403	2,695
								6,045	3,191
13	Sports &Games Direct costs:							f	2
	RE Sports Board							372,412	249,209
	Refund sports grant from			previous	year			(6,040)	(761)
								366,372	248,448
	Support costs:
	Audit Fee							1,040	860
	Insurance							423	442
	Administration							1,507	1,057
	IT Support							774	1,972
	Depreciation							2,367	2,338
	Donated services support			costs				7,421	7,073
	Donated services MOD		Salaries					21,340	20,080
	Staff costs							28,719	13,653
								63,591	47,475
								429,963	295,923
14	Heritage Direct costs:							f	F
	RE Museum							44,600	38,000
	RE Museum Dockyard		Rent					5,400	8,100
	RE Museum Project								45,000
								50,000	91,100

rt	he year ended 31 December 2022
		Total	Total
		funds	funds
		2022	2021
15	Esprit de Corps Direct costs:	f	E
	Donations and presentations	716	909
	Other Corps events	32,902	10,839
	Corps entertainment	63,039	45,934
	Project Funding	10,305	8,144
	Colonels Comdt	1,066	763
	Unit grants - DUTF	15,624	1,380
	War Memorials	8,950
	Refund of previous years' grant	(12,264)	(1,544)
		120,338	66,425
	Support costs:
	Audit fee	2,080	1,720
	Insurance	846	883
	Administration	4,934	2,421
	IT Support	1,549	3,944
	Depreciation	4,734	4,676
	Donated services support costs	14,842	14,146
	Donated services MOD Salaries	42,680	40,159
	Staff costs	15,535	16,855
		87,200	84,804
		207,538	151,229
	HQ Mess
16	Direct costs:
	Mess Secretary salary	30,037	28,989

r th	e year ended 31	Dece	mber 2022
				Total	Total
				funds	funds
				2022	2021
17	Comms Hub
	Direct costs:
	Printing &distribution			72,693	53,749
	Miscellaneous			6,765	2,263
				79,458	56,012
	Support costs:
	Audit fee			1,040	860
	Insurance			423	442
	Administration			3,270	1,327
	IT support			6,163	5,755
	Depreciation			3,705	3,705
	Donated services	support costs		7,871	7,514
	Donated services	MOD	Salaries	31,040	29,207
	Staff costs			111,790	133,338
				165,302	182,148
				244,760	238,160
18	WOs' &Sgts' Fund
	Direct costs:
	Individual E2 Grants			750	710
	Corps Dinner Nights			1,080
	Adjustment Silver	Fund	2021	9,454
				11,284	710
	Supportcosts:
	Audit Fee			1,040	860
	Insurance '			423	442
	Administration			1,507	1,056
	Miscellaneous			927	56
	IT support			774	1,972
	Donated services	support costs		6,869	6,531
	Donated Services	MOD	salaries	9,700	9,127
	Staff costs			281	364
				21,521	20,408
				32,805	21,118
19	RE Corps Enterprises		Ltd
	Support costs:
	Donated services	support costs		9,219	8,837
	Donated services	MOD	Salaries	60,140	56,588
	Staff costs			6,043	5,625
				75,402	71,050

ort	he year ende	d 31 Dece	mber 202	2
					Total	Total
					funds	funds
					2022	2021
20	Day's Pay Scheme
	Supportcostsi
	Audit Fee				1,040	860
	insurance				423	442
	Administration				1,507	1,056
	ITsupport				774	1,972
	Depreciation				2,367	2,338
	Donated services support costs				7,781	7,426
	Donated services MOD		Salanes		29,100	27,381
	Staff costs				12,131	12,429
					55,123	53,904
21	Net Income	/(Expenditure)
	This is stated	after charging:
	Depreciation	oftangible	fixed assets:		6	f
	-owned by the		chantable	group	15,575	15,752
	Auditor's remuneration				6,240	5,160

rth	e year ende	d	31 De	cember 2	022
								Total	Total
								funds	funds
								2022	2021
23	Staffcosts
	Staff costs were as follows:
	Wages and	salaries						227,979	231,685
	Social security		costs					11,882	13,271
	Pension costs							17,523	18,149
								257,384	263,105
	The average	monthly		number	of employees	during	the year was as follows:
								No.	No.
	Management		and administration		ofthe charity			7	6
	RECE Ltd							4	4
								11	10

Tangible fixed assets
	Shop fixtures,
	fittings and	General	WOs' &Sgts'Comms Hub
	equipment	fund	fund	property	Total
Group	E	E	K	E	E
Cost or valuation
At 1 January 2022	1,074	121,993	174,642	28,814	326,523
At 31 December 2022	1,074	121,993	174,642	28,814	326,523
Depreciation
At 1 January 2022	959	65,645		16,873	83,477
Charge for the year	115	11870		3,705	15,690
At 31 December 2022	1,074	77„515		20,578	99,167
Net book value
At 31 December 2022		44,478	174,642	8,236	227,356
At 31 December 2021	115	56,348	174,642	11,941	243,046

24	Tangible fixed assets (co	ntinued)
			General	WOs' &Sgts'	Comms Hub
			fund	fund	property
			6	6	E
	Charity
	Cost or valuation
	At 1 January 2022		121,993	174,642	28,814
	At 31 December 2022		121,993	174,642	28,814
	Depreciation
	At 1 January 2022		65,645		16,873
	Charge for the year		11,870		3,705
	At 31 December 2022		77,515		20,578
	Net book value
	At 31 December 2022		44,478	174,642	8236
	At 31 December 2021		56,348	174,642	11,941
25	Fixed asset investments
					Listed
	Group &Charity				securitiesf
	Market value
	At 1 January 2022 Revaluations			10,295,380 ~1,436,614
	At.31 December 2022				8,858,566
	Historical cost				8,831,319
	Group 8 charity investments	at market value comprise:
					2022
					6
	Listed investments				8,858,566

Investment properties
	Freehold
	Investment
Group &Charity	Propertyf
Valuation
At 1 January 2022	640,000
Additions	473,671
Re-valuation	106,329
At 31 December 2022	1,220,000
Support Costs
Annual Fees	1,200
Comprising
Cost	1 220 000

			Group		Charity
27	Stocks:		2022	2021	2022	2021
			f		f
	Finished	goods and goods for resale	62,217	71,148
			Group		Charity
			2022	2021	2022	2021
28	Debtors:		F	F	f	f
	Amounts	owed by group undertakings			44,235	44,235
	Other debtors		170,215	179,197	155,213	171,970
			170,215	179,197	199,448	216,205

r th	e year ended 31 Decem	e year ended 31 Decem	ber 2022
30	Statement offunds
	Current Year		Brought Forward 6	Income 6	Expenditure f	Transfers in/out f	Gains/ (Losses) 6	Carried Forward 6
	Designated funds
	Comms Hub		11,941	94,611	(205,849)	107,531		8,235
	Project Funding		45,113	9,873	(10,305)			44,681
			57,054	104,484	216,154	107,531		52,916
	General funds
	RE Central Charitable Trust		11,095,210	1,096,665	(883,658)	(107,531)	(1,330,485)	9,870,201
	WOs' & Sgts' Fund		252,481	10,417	(16,236)			246,662
	RECE Lid		22,341	237,333	(234,521)			25,153
			11,370,032	1,344,415	(1,134,415)	(107,531)	(1,330,485)	10,142,016
	Total Unrestricted	funds	11,427,086	1,448,899	(1,350,569)		(1,330,485)	10,194,931
	Restricted funds
	DUTF		15,619	5	(15,624)
	Total offunds		11,442,705	1,448,904	1,366,193		1,330,485	10,194,931
	Prior Year		Brought Forwardf	Income F	Expenditure 6	Transfers in/outf	Gains/ (Losses) F	Carried Forwardf
	Designated funds
	Comms Hub		8,992	98,864	(238,160)	142,245		11,941
	Project Fund		37,715	15,542	(8,144)			45,113
			46,707	114,406	246,304	142,245		57,054
	General funds
	RE Central Charitable Trust		10,157,730	989,797	(706,270)	(142,245)	796,198	11,095,210
	WOs' & Sgts' Fund		232,072	21,119	(710)			252,481
	RECE Ltd		12,701	228,364	(218,724)			22,341
			10,402,503	1,239,280	(925,704)	(142,245)	796,198	11,370,032
	Total Unrestdicted	funds	10,449,210	1,353,686	(1,172,008)		796,198	11,427,086
	Restricted funds
	DUTF		16,997	2	(1,380)			15,619
	Total of funds		10,466,207	1,353,688	1,173,388		796,198	11,442,705

rth	e year e	nded 31 December 202	nded 31 December 202	2
31	Analysis	ofnet assets between		funds
	Current	Year			Unrestricted	Restricted	Total	Total
					Funds	Funds	funds	funds
					2022f	2022 6	2022 6	2021
	Tangible	fixed assets			227,356		227,356	243,046
	Fixed asset investments				8,858,566		8,858,566	10,295,380
	Investment properties				1,220,000		1,220,000	640,000
	Current assets				908,295		908,295	1,640,201
	Creditors one year	due within			(1,019,286)		(1,019,286)	(1,375,922)
					10,194,931		10,194,931	11,442,705
	Analysis	of net assets between	funds
	Prior Year				Unrestricted	Restricted	Total	Total
					Funds	Funds	funds	funds
					2021	2021	2021	2020
						6	6
	Tangible	fixed assets			243,046		243,046	252,259
	Fixed asset investments				10,295,380		10,295,380	8,619,162
	Investment properties				640,000		640,000	640,000
	Current assets				1,624,582	15,619	1,640,201	1,145,464
	Creditors one year	due within			(1,375,922)		(1,375,922)	(190,698)
					11,427,086	15,619	11,442,705	10,466,207

	The group operates a	defined contribution	defined contribution	defined contribution	pension scheme. The assets ofthe scheme are held	pension scheme. The assets ofthe scheme are held	pension scheme. The assets ofthe scheme are held	pension scheme. The assets ofthe scheme are held
	separately from those	of the group	in an		independently	administered	fund. The pension cost
	charge represents contributions payable			by the group to the fund and			amounted to	f17,523
	(2021:218,149).
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
							2022	2021
	Net movement in funds						(1,247,774)	976,498
	Add back depreciation	charge					15,690	15,867
	Deduct interest income	shown in investing			activities		(381,422)	(336,119)
	Deduct gains / add back losses on		investments				1,436,814	(796,198)
	Losses on revaluation	oftangible fixed assets
	Deduct gain on revaluation of investment				property		(106,329)
	Decrease (increase) in	stock					8,931	3,446
	Decrease (increase) in	debtors					8,982	(8,176)
	Increase (decrease) in	creditors					(356,636)	1,185,224
	Net cash used in operating activities						621,744	1,040,542