CHARITY REGISTRATION NUMBER: 1012766 The Regimental Charity of the Royal Dragoon Guards Unaudited Financial Statements 31 March 2025 IAN CRISOP ACCOUNTANCY Chartered accountants Unit 1, Borough House Business Centre, 5 Borough Road, Richmond, North Yorkshire DL10 4SX
The Regimental Charity of the Royal Dragoon Guards Financial Statements Year ended 31 March 2025 Page Trustees, annual report Independent examiner's report to the twstees Statement of financial activities Statement of financial position Notes to the financial statements The following pages do not form part of the financlal statements Detailed statement of financial activities 14 Notes to the detailed statement of financial activities 15
The Regimental Charity of the Royal Dragoon Guards Trustees, Annual Report Year ended 31 March 2025 The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2025. Reference and administralive details Reglst8red charity name The Regimental Charity of the Royal Dragoon Guards Charity regislratlon number 1012766 Prlnclpal offlce Royal Dragoon Guards Règimental Association 3 Tower Street York Y01 9SB The trustees J S A Carr-smith Maj (Reld) G M Green Maj Gen T D Hyams CB OBE C Cuss Lt Col H Campbell Smith MBE N Read Lt Col M P Morrissey M8E W01 IRSM) M Foster SFBest J Robertson R J Mellar Maj Gen TJ Bateman CBE N C T Millen OBE S Pendry DL (Appointed 3 August 2024) (Resigned 3 August 2024) (Resigned 3 August 20241 (Resigned 3 August 2024) (Resigned 3 August 20241 (Appointed 3 August 2024) {Appoinled 3 August 2024) Independent examlner R I Crisop Unit 1, Borough House Business C8ntre, 5 Borough Road, Richmond, North Yorkshire DL10 4SX Structure, governance and management The Charity is administrated by a committee of trustees who are listed above. Non ex officio trustees are appointed at the Annual General Meeting of the organisation. Risk Policy The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that syslems have been established to enable regular reports to be produced so that the necessary steps can be laken to lessen these risks.
The Regimental Charity of the Royal Dragoon Guards Trustees, Annual Report (Gontinued) Year ended 31 March 2025 Objectives and activities The oblect of the Charlly is: to promote the efficiency of the Armed Forces and in particular the Royal Dragoon Guards {The Regiment) by'.- a) relieving. either generally or individually, members of the Association or past and present serving members of the Royal Dragoon Guards or its predecessor regiments, who are in condilions of illness, need, hardship or distress.. bl maintaining contact between past and present members of The Regiment and allied associations, fostering communication and mutual friendship between them and providing for social gatherings for them- and c) fostering esprit de corps, comradeship and the welfare of The Regiment and maintaining and preserving its traditions. The trustees may apply to use the assets of The Association to the objects of the Charity.. 11) in making benevolent grants to members of The Association and to other Charities who, in thelr opinion, will assist members either directly or indirectly,. 12) to make payments in support of The Regiment- 131 lo support the organisation of functions and reunions and.'141 to support annual publication of Regimental Journals. Achievements and performance During this reporting period the Trustees have used assets to meet all of the charities objectives as set out above. Areas of Investment and support include. Benevolence Grants to help alleviate hardship for members of the Regiment and their families. Grants paid to Service Charities that support them in the d8livery and resolution of casework. Providing positive outcomes for our soldiers, veterans and their families. An Annual Grant is made directly to the Regiment, to help improve the lived experience of our soldiers and their families. Particularly in those areas where the MOD has reduced its funding and support to previously public funded costs and activities, examples of this include transport, sport, adventure training ceremonial and heritage, out of scope compassionate travel and participation in cathartic events. Both nationally and overseas. The Charity has contlnued to support a broad range of activities across Ihe Regimental Family. Examples include Reunion Dinners at Blackpool. Oxford, North8rn Ireland and London. Sporting events most notably the Zambelli and Enniskillen Trophies. Th8 charity supported activities towards the Funeral of Her Majesty the Queen and the Coronation of His Majesty the King. While contir)uing to support cathartic events in support of ils members and their families as well as Oates Sunday in York. Studland in in Dorset, where a new Memorial was installed in preparation for D Day 80 Everktreavalry Memorial Weekend, with the Regiment being the Lead Regiment for the 1 Ooth Aoniversary Parade in May 24. Services at Lepe and Normandy, including events at Creully, Verieres and Lingevres. Later in the year Remembrance activities across the Nation were supported, notably in York, Enniskillen and at the Cenotaph in London. Finally, The Charity has continued with investment in areas that promote and sustain Ethos, Comradeship and herilage. The Charity continues to publish the Regimental Journal and invest in the digitisation of archives and the conservation and resloration of its historical collection5.
The Regimental Charity of the Royal Dragoon Guards Trustees. Annual Report (continueil) Year ended 31 March 2025 Financial review Investment policy In accordance with the trust deed, Ihe trustees have the power to invest in such stocks, shares, investments and property in the UK as they see fit. Reserves policy It is the policy of Ihe charity to maintain unrestricted funds, which are the free reserves of the charity, at a level that equates lo approximately twelve months unrestricted oxpenditure. This provides sufficient funds to Gover management and administration and support costs and to respond to emergency applications for grants that arise from time to time. Unrestricted funds were maintained in excess of this level throughout the period. Grant making policy The Charity makes grants and paymenls to beneficiaries, which afe authorised by a committee of Trustees. Grants are paid in the period lotalled £32.39012024..£25,925}. Creditor payment policy Liabilities are included in the accounts when they become legally due. Fixed assets Inveslments have fallen slightly in the year. Unrealised losses slnce the 1 st April 2024 total £1,407 and Investments are now valued at £1,710,331. During the year no investment income was taken by the Association but was instead reinvested into the portfolio. Details of the investment are set out on page 12. Plans for future perlods The Trustees are of the opinion that the resources of the Association are adequate to meet commitments for the fores88able future. The trustees, annual report was approved on 12 March 2026 and signed on behalf of the board of Irustees by- J S A Carr-smith Trustee Maj (Reld) G M Green Trustee
The Regimental Charity of the Royal Dragoon Guards Independent Examiner's Report to the Trustees of The Regimental Charity of the Royal Dragoon Guards Year ended 31 March 2025 I report to the trustees on my examination of the financial statements of The Regimental Charity of the Royal Dragoon Guards ('the charity'l for the year ended 11 March 2025. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financial statements In accordance with the requirements of the Charities Act 2011 I'the Act,). I report in respect of my examination of the charitls financial slatements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145{51{bl of the Act. Independent examiner's statement I have cornpleted my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respecl: accounting records were not kept in respecl of the charity as required by section 130 of the Act; or Ihe financial statements do not accord wllh those records; or the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities IAccounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue and fair, view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in conneclion with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. R I Crisop Independent Examiner Unit 1, Borough House Business Centre, 5 Borough Road, Richmond, North Yorkshire DL10 4SX 12 March 2026
The Regimental Charity of the Royal Dragoon Guards statement of Financial Activities Year ended 31 March 2025 2025 Unrestricted funds Total funds 2024 Total funds Note Income and endowments Donations and legacies Investment income 77,819 6,621 84,440 77,819 6,621 217,404 3,705 Total income 84,440 221,109 Expenditure Expenditure on raising funds.. Cosls of raising donations and legacies Expenditure on Gharitable activities Total 6xpendSture 133,816 6,611 133,816 6,611 132,230 6,253 140,427 140,427 138,483 Net (expendlture)Ilncome 155,9871 (55,987} 82,626 Other recognlsed gains and losses ILosse5llgains from revaluatlon of fixed assets Net mov8m8nt in funds {1,4071 157,3941 11,4071 (57,394) 229,911 312,537 Reconclllatlon of funds Total funds brought foNard Total funds carried forward 2,001,058 1,943,664 2,001,058 1,943.664 1,688,521 2,001,058 The statement of financial activities in¢lud8s all gains and losses recognised in the year. All Income and expenditur8 derive from continuing activities. The notes on pages 7 to 12 form part of these financlal statamènts.
The Regimental Charity of the Royal Dragoon Guards Statement of Financial Position 31 March 2025 2025 2024 Fixed assets Investments Note 11 1,710,331 1,711.738 Current assets Cash at bank and in hand 233,333 233,333 1,943,664 289,320 Net current assets Total assets less current liablllties 289,320 2,001,058 Funds of the charity Unrestricted funds.. Revaluation reserve Other unrestricted income funds Total unrestricted funds Total charity funds 736,667 1.206,997 1,943,664 738,074 1,262,984 2,001,058 12 1,943,664 2,001,058 These financial statements were approved by the board of truslees and aJJlhorised for issue on 12 March 2026, and ar& signed on behalf of the board by.. J S A Carr-smith Trustee j (Ret Trustee IGMGreen The notes on pagos 7 to 12 form part of these financial statements.
The Regimental Charity of the Royal Dragoon Guards Notes to the Financial Statements Year ended 31 March 2025 General information The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Royal Dragoon Guards Regimental Association, 3 Tower Street, York, Y01 9SB. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (Charities SORP IFRS 102)) and the Charities Acl 2011. Accountlng pollcles Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financi81 statements are prepared in sterling, which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Disclosure exemptlons The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102.. (a} No cash flow slalement has been presented for th8 company. (b) Disclosures in respect of financial inslruments have not been presented. Judgements and key sources of estimation uncertalnty The preparation of the financial statements requires management to make judgements, estimates and assumptions thal affect the amounts reporterj. These estimates and judgemenls are continually reviewed and are based on experience and other factors, including expectations of future events Ihat are believed to be reasonable under the circumstances. Fund accounllng Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of I0 sub-classes: restricted income funds or andowment funds.
The Regimental Charity of the Royal Dragoon Guards Notes to the Financial Statements (eonfinuedj Year ended 31 March 2025 Accounting policies (continued) Incoming resourees All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. income from donations or grants is recognised when there is evidence of entitlement lo the gift. receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the eslimaled resale value. Donated facilities and services are recognised in the accounts when received if the valu8 can be reliably measured. No amounts 8re included for the contribution of general volunteers. incom8 from contracts for the supply of services is recognised with the delivery of the contracted service. This is classifi8d as unrestricted funds unless there is a contractual requirement for it to be spent on a partlcular purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered. and is classified under headings of the statement of financial activities lo which il relates.. expenditure on raising funds includes the costs of all fundraising activilies, events, non- charitable Irading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable airns for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for th8 charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allooaled directly to that aclivily. Sharod costs are apportioned between the activities they contribute to on a reasonable. justifiable and consistent basis. Investments Unlisted equity investments are initlally recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assots are measured at cost less impairment. Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
The Regimental Charity of the Royal Dragoon Guards Notes to the Financial Statements (continu) Year ended 31 March 2025 Accounting policies fcontinued) Investments In assoclates Investmenls in associates accounted for in accordance with the cost model are recorded at cost less any accumulaled impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting dale, the investmenls are measured at fair value, with changes in fair value taken through income or expenditure. Where il is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investmant are recognised as income without regard lo whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition. Investments in joint ventures Investments in jointly controlled entilies accounted for in accordance wllh the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at tha transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditur8. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whelher the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition. Impairment of fixed assets Flnancial Instruments A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrumenl. Basic financial instruments are initially recognised at the amounl receivable or payable including any related transaction costs. Currenl assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised Cost. Where investments in shares are publicly traded or their fair value can otheiSe be measured reliably, Ihe investment is subsequenlly measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured al cost less impairment.
The Regimental Charity of the Royal Dragoon Guards Notes to the Financial Statements (contlnued) Year ended 31 March 2025 Accounting policies (Continued) Flnancial Instruments (¢ontlnu8d) Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the fulLJre payments discounted al a market rale of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financlal assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar Gr8dit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Donatlons and legacles Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Donatlons Subscriptions General SOT & ODPS Donations Reunion Receipts 11,627 51,228 7,502 7,462 11,627 51,228 7,502 7,462 77,819 11,341 51,953 147,825 6,285 11,341 51,953 147,825 6,285 77,819 217,404 217,404 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Investrnent Income 6,621 6,621 3,705 3,705 Costs of raising donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Costs of raising donations and legacies Subscriptions 133,816 133,816 132,230 132,230 10
The Regimental Charity of the Royal Dragoon Guards Notes to the Financial Statements (contlnued) Year ended 31 March 2025 Expenditure on charitable activities by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Support costs 6,611 6,611 6,253 6,253 Independent examination fees 2025 2024 Fees payable to the independent examiner for: Independent examination of the financial statements 1 ,440 1,704 Slaff costs The average head count of employees during the year was Nil (2024.. Nil). No employee recaived employee benefits of mor8 than £60,000 during the year12024'. Nil). 10. Trustee remuneration and expenses The trustees received no incom8 in the year other than the reimbursement of expenses. This was also the case in the previous year. 11. Investments Listed investments Cost or valuation At 1 April 2024 Additions Fair value movements 1,711,738 (1,407) 1,710,331 At 31 March 2025 Impalmient At 1 April 2024 and 31 March 2025 Carrying amount At 31 March 2025 1,710.331 At 31 March 2024 1,711,738 All investments shown above are held at valuation. Financial assets held at fair value The value shown is the market vallue al the year end and the Trustees believe this to be a fair value.
The Regimental Charity of the Royal Dragoon Guards Notes to the Financial Statements (continuedj Year ended 31 March 2025 12. Analysis of Charitable funds Unrestrlcted funds At Gains and 31 March 202 losses At 1 April 2024 Income Expenditure General funds Revaluation reserve 1,262,984 738,074 84,440 (140,4271 1,206,997 736,667 {1.407} {1,407) 1.943,664 2,001.058 84,440 (140,427) At Gains and 31 March 202 losses At 1 April 2023 Income Expenditure General funds Revaluation reserve 1,180,358 508,163 221,109 (138,4831 1,262,984 738,074 229,911 229.911 1,688.521 221,109 1138,483) 2,001,058 13. Analysis of net assets between funds Unrestricted Total Funds Funds 2025 Investments Current assets 1,710,331 233,333 1,710,331 233,333 Net assets 1,943,664 1,943,664 Unrestricted Total Funds Funds 2024 Investments Current assets 1,711,738 289,320 1,711,738 289,320 Not assets 2,001.058 2,001,058 12
The Regimental Charity of the Royal Dragoon Guards Management Information Year ended 31 March 2025 The followlng pages do not form part of the financlal statements. 13
The Regimental Charity of the Royal Dragoon Guards Detailed Statement of Financial Activities Year ended 31 March 2025 Income and endowments Donations and legacies Subscriptions General SOT & ODPS Donations R&union Receipts 2025 2024 11,627 51,228 7,502 7,462 77,819 11,341 51,953 147,825 6,285 217,404 Investment income Investment Income 6,621 3,705 Total Income 84,440 221,109 Expenditura Costs of raislng donations and 18gacies Grants Paid Wreaths & Memorials Reunions Expenditure Heritage Home HQ Benevolence Merchandise Purchases Cost of Printing & Postage RDG Journal 32,390 5,032 26,427 20,704 21,075 23,959 25,925 1,695 15,961 31,873 11,033 37,029 376 8,338 132,230 4,229 133,816 Expenditure on charitable activities Insurance Trustees Expenses Examiners Fees Telephone, Printing, Postage & IT General Expenses 1,112 1,372 2,016 869 1,242 6,611 1,144 1,180 1,704 1,019 1,226 6,253 Total expendlture 140,427 138,483 Net (expenditure}lincome (55,9871 82,626 14
The Regimental Charity of the Royal Dragoon Guards Notes to the Detailed Statement of Financial Activities Year ended 31 March 2025 2025 2024 Costs of raising donations and legacies Grants Paid Wreaths & Memorials Reunions Expenditure Heritaga Home HQ Benevolenc8 Merchandise Purchases Cost of Printing & Postage RDG Journal 32,390 5,032 26,427 20,704 21,075 23,959 25,925 1,695 15,961 31,873 11,033 37,029 376 8,338 4,229 133,816 132,230 Costs of raising donations and legacies 133,816 132,230 Expenditure on charltable activities Support costs Insurance Trustees Expenses Examiners Fee Telephone, Printing, Postage & IT General Expenses 1,112 1,372 2,016 869 1,242 1,144 1,160 1,704 1,019 1,226 6,611 6,253 Expendlture on charltable actlvlti8S 6,611 6,253 15