TRUST AIMS
- The aims of the Trust are:
a. The promotion of the efficiency of the Regiment and the maintenance of its history traditions and esprit de corps.
b. The purchase of such chattels and other property as in the opinion of the Trustees is for the benefit of the Regiment and the insurance and upkeep of any property for the time being belonging to the Trust.
c. Other charitable purposes promoting the efficiency or esprit de corps of all ranks of, or serving with, the Regiment - including without prejudice to the generality of the foregoing the provision of recreational facilities and amenities not provided for out of public funds.
d. The relief of distress, hardship or poverty amongst serving or former members of the Regiment or their dependents by the provision or application of such moneys whether by loan or gift as the Trustees consider to be necessary.
ACTIVITIES DURING THE YEAR
-
The principal intent of the Trust remained unchanged from previous years – to support the activities of the Regiment and the Association. 2024 was the 75[th] anniversary of the start of the Queen’s Gurkha Signals Regiment and Trustees therefore released some capital from investments to support additional celebrations in UK and Nepal.
-
The Regiment conducted a number of community social events, which remain very important in maintaining community connections. These events involve serving and retired personnel and their families and are an important part of building and maintaining morale and support within the serving Gurkha community. The overall size of the Regiment is increasing and it is anticipated that the size (and cost) of the community events will therefore also increase.
-
The Balance Sheet and Breakdown of Income and Expenditure for 2024 are attached.
PLANS AND EXPECTATIONS
-
Trustees anticipate funding returning to normal levels for 2025 and beyond with continued investment to return the value of the capital growth fund to be able to support the next special community celebration.
-
The Trust investments continue to perform in line with market conditions.
QG Signals Trust Fund - 2024
| RECEIPTS | RECEIPTS | RECEIPTS | |||||||
|---|---|---|---|---|---|---|---|---|---|
| DATE | NAME | VOU NO |
INVOICE NO/ CHEQUE NO |
CASH | BANK | Dividend | |||
| Task | GA ID | ||||||||
| £ - | £ 5,833.97 | ||||||||
| 2-Jan-24 2-Jan-24 4-Jan-24 10-Jan-24 5-Feb-24 |
watts verdon cole Investment cole |
1 2 3 4 5 |
£ 180.00 £ 120.00 £ 10.00 £ 16,440.96 £ 10.00 |
Investment | |||||
| 5-Mar-24 | cole | 6 | £ 10.00 | ||||||
| 5-Mar-24 | Q1 dividend | 7 | £ 1,306.98 | Q1 | |||||
| 30-Apr-24 | Blackrock withdraw | 8 | £ 14,000.00 | Withdraw | |||||
| 4-May-24 3-May-24 |
Cole Cole |
9 10 |
£ 10.00 £ 10.00 |
||||||
| 14-May-24 | Keaveney | 11 | £ 25.00 | ||||||
| 14-May-24 | Selling | 12 | £ 25.00 | ||||||
| 15-May-24 | Gift Aid | 13 | £ 685.00 | ||||||
| 15-May-24 | Shilley | 14 | £ 25.00 | ||||||
| 20-May-24 29-May-24 |
Hannah BEWF |
15 16 |
£ 25.00 £ 8,287.53 |
||||||
| 5-Jun-24 | Q2 dividend | 17 | £ 2,381.58 | Q2 | |||||
| 6-Jun-24 3-Jul-24 4-Jul-24 5-Aug-24 20-Aug-24 21-Aug-24 3-Sep-24 4-Sep-24 4-Sep-24 20-Sep-24 30-Sep-24 3-Oct-24 14-Oct-24 25-Oct-24 25-Oct-24 5-Nov-24 18-Nov-24 26-Nov-24 4-Dec-24 16-Dec-24 18-Dec-24 |
Cole Cole Keenan Cole Cameron Lewis Reed Johnson Cole Q3 dividend Keavney Lymar Cole Dev Shah Owens Cummings Cole Regt Cutting BEWF Cole Donation Q4 dividend |
18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 |
£ 10.00 £ 10.00 £ 25.00 £ 10.00 £ 25.00 £ 25.00 £ 20.00 £ 10.00 £ 1,990.30 £ 25.00 £ 25.00 £ 10.00 £ 25.00 £ 25.00 £ 25.00 £ 10.00 £ 1,500.00 £ 8,554.92 £ 10.00 £ 1,200.00 £ 3,066.31 |
Q3 Q4 |
| 48 49 |
|||||||||
|---|---|---|---|---|---|---|---|---|---|
| TOTALS | £ - | £ 65,987.55 | |||||||
| Cash Balance | £ - | £ 65,987.55 | |||||||
| Bank Balance | £ 5,376.25 | £ 5,376.25 | |||||||
| Total Cash | £ 5,376.25 | ||||||||
| Donation | Donation | Gift Aid | Gift Aid | Regt | Regt | BEWF | BEWF | |
|---|---|---|---|---|---|---|---|---|
| Amount | Task | Amount | Task | Amount | Task | Amount | Task | Amount |
| £ 16,440.96 £ 1,306.98 £ 14,000.00 £ 2,381.58 £ 1,990.30 £ 3,066.31 |
BST fund raisin | £ 180.00 £ 120.00 £ 10.00 £ 10.00 £ 10.00 £ 10.00 £ 10.00 £ 10.00 £ 10.00 £ 10.00 £ 10.00 £ 10.00 £ 10.00 £ 10.00 g £ 1,200.00 |
2023 | £ 685.00 | Cutting | 1,500.00 | H1 H2 |
£ 8,287.53 £ 8,554.92 |
£ 39,186.13 £ 1,620.00 £ 685.00 £ 1,500.00 £ 16,842.45
| QGSA | QGSA | QGSA | R&C | R&C | DEBTORS | DEBTORS | CREDITORS | CREDITORS |
|---|---|---|---|---|---|---|---|---|
| Task | GA ID | Amount | Task | Amount | Task | Amount | Task | Amount |
| Keaveney Selley |
£ 25.00 £ 25.00 |
|||||||
| Shilley Hannah |
£ 25.00 £ 25.00 |
|||||||
| Keenan | £ 25.00 | |||||||
| Cameron | £ 25.00 | |||||||
| Reed Johnson Keaveney Lymar Shah Owens Cummings |
£ 25.00 £ 20.00 £ 25.00 £ 25.00 £ 25.00 £ 25.00 £ 25.00 |
£ 320.00 £ - £ - £ -
| PAYMENTS | PAYMENTS | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| DATE | NAME | VOU | INVOICE NO | CHEQUE No | CASH | BANK | Inves | ||||
| No | Task | ||||||||||
| 13-May-24 | Complin | 1 | £ 15.30 | ||||||||
| 26-Jun-24 26-Jun-24 |
GBA Subs QGSA HK |
2 3 |
£ 405.00 £ 350.00 |
||||||||
| 26-Jun-24 26-Jun-24 26-Jun-24 26-Jun-24 |
TW Team Nepal Cup Attestation Pde Newsletter |
4 5 6 7 |
£ 1,500.00 £ 1,500.00 £ 1,500.00 £ 500.00 |
||||||||
| 26-Jun-24 8-Aug-24 30-Sep-24 |
BST & NST Birthday Coins |
8 9 10 |
£ 2,000.00 £ 17,100.00 £ 12,996.00 |
||||||||
| 4-Oct-24 10-Oct-24 2-Dec-24 2-Dec-24 2-Dec-24 27-Dec-24 |
GB Donation QGSA Nepal Regt Dashain Heritage QGSA Nepal Birthday Painting |
11 12 13 14 15 16 |
£ 45.00 £ 10,000.00 £ 6,500.00 £ 1,000.00 £ 2,700.00 £ 2,500.00 |
||||||||
| Vertical | £ - | £ 60,611.30 | |||||||||
| Horizontal | 60,611.30 |
| stment | Travel | Travel | Office | Office | Regt | Regt | Sec D | ||
|---|---|---|---|---|---|---|---|---|---|
| Amount | Task | Amount | Task | Amount | Task | Amount | Task | ||
| £ 15.30 | £ 1,500.00 £ 1,500.00 £ 1,500.00 £ 500.00 £ 2,000.00 £ 17,100.00 £ 12,996.00 £ 6,500.00 £ 1,000.00 £ 2,500.00 |
Donation | |||||||
| £ - | £ - | £ 15.30 | £ 47,096.00 |
| isc | QGSA | QGSA | R&C | R&C | DEBTORS | DEBTORS | CREDITORS | CREDITORS |
|---|---|---|---|---|---|---|---|---|
| Amount | Task | Amount | Task | Amount | Task | Amount | Task | Amount |
| £ 405.00 | ||||||||
| £ 350.00 | ||||||||
| £ 45.00 | £ 10,000.00 £ 2,700.00 |
|||||||
| £ 45.00 | £ 13,455.00 | £ - | £ - | £ - |
SHARE VALUATIONS
| Investment Valuation | Investment Valuation | Investment Valuation | Investment Valuation |
|---|---|---|---|
| Share | Value | */- | |
| M&G 2023 | £ 139,597.66 | ||
| M&G 2024 | £ 146,564.00 | £ 6,966.34 | |
| AF 2023 | £ 58,725.90 | ||
| AF 2024 | £ 48,696.76 | -£ 10,029.14 | |
| Total | -£ 3,062.80 |
DIVIDENDS
TAKEN AS INCOME
| Walker Cripps | Walker Cripps | Walker Cripps |
|---|---|---|
| Item | Amount 2023 | Amount 2024 |
| Dividend Dividend |
£ 1,250.90 £ 2,291.29 |
£ 1,306.98 £ 2,381.58 |
| Dividend Dividend |
£ 1,972.57 £ 2,738.95 |
£ 1,990.30 £ 3,066.31 |
| Total | £ 8,253.71 | £ 8,745.17 |
REINVESTED
| Blackrock | Blackrock | Blackrock |
|---|---|---|
| Item | Amount 2023 | Amount 2024 |
| Dividend | £ 551.77 | £ 582.89 |
| Dividend Dividend Dividend |
£ 570.38 £ 576.50 £ 586.34 |
£ 347.34 £ 391.79 £ 369.26 |
| Total | £ 2,284.99 | £ 1,691.28 |
| Balance Sheet QG | Balance Sheet QG | Balance Sheet QG |
|---|---|---|
| Previous Period Figures | ||
| Totals | Sub-Totals | Totals |
| £ - | ||
| £ 5,833.97 | ||
| £ 5,833.97 | ||
| £ - | ||
| Le | ||
| P | ||
| £ 5,833.97 | T | |
| £ 5,833.97 | T | |
| £ - | ||
| £ - | ||
| £ - | ||
| £5,833.97 | Net WorkingCapi | |
| I | ||
| £ 139,597.66 | ||
| £ 58,725.90 | Armed Forc | |
| £ 16,400.00 | ||
| £ - | ||
| £ 214,723.56 | ||
| GEN | ||
| £ 220,557.53 | Balance |
|
| £ - | Ad | |
| Subt | ||
| £ 220,557.53 | Accumulat | |
| being Net Workin |
Date: 14 Jan 23
Date:
| Signals Trust Fund as at 31 Dec 2024 | Signals Trust Fund as at 31 Dec 2024 | Signals Trust Fund as at 31 Dec 2024 | BREAKDOWN OF INCOM | BREAKDOWN OF INCOM | BREAKDOWN OF INCOM | |||
|---|---|---|---|---|---|---|---|---|
| Current Period Figures | INCOME/EXPENDITURE 202 | |||||||
| Totals | Sub-Totals | Totals | Item | Income | ||||
| ASSETS | General | |||||||
| Dividends | £ 8,253.71 | |||||||
| Donations | £ 2,790.62 | |||||||
| Cash in Hand | £ - | BEWF Grant | £ 15,371.92 | |||||
| Cash in Bank | £ 5,376.25 | Gift Aid | £ 685.01 | |||||
| R&C | ||||||||
| Total Cash | £ 5,376.25 | Share Purchase | ||||||
| Deposit Accounts | 75th Birthday Investment | |||||||
| ss SundryCreditors | ||||||||
| lus SundryDebtors | £ - | Totals | £ 27,101.26 | |||||
| Total Liquid Assest | £ 5,376.25 | QGSA | ||||||
| otal Current Assets | £ 5,376.25 | Memberships | £ 165.00 | |||||
| LIABILITES | GBA Mship | |||||||
| £ - | QGSA (Nep) | |||||||
| £ - | Pokhara Museum | |||||||
| Total Liabilities | £ - | QGSA (UK-S) | ||||||
| QGSA (HK) | ||||||||
| ital(Current Assets minus Liabilities | £ 5,376.25 | Sec Discretionary | ||||||
| FIXED ASSETS | ||||||||
| nvestments at Cost | ||||||||
| M&G Chari Fund | £ 146,564.00 | |||||||
| es Common Investment Fund | £ 48,696.76 | Totals | £ 165.00 | |||||
| Lloyds Bond | ||||||||
| **Regt ** | ||||||||
| Market Value | Donation | £ 2,345.70 | ||||||
| Capital Property | £ - | BST Grant | ||||||
| Total Fixed Assets | £ 195,260.76 | NST Grant | ||||||
| NERAL PURPOSES FUND | Dasain | |||||||
| asper Last Balance Sheet | £ 220,557.53 | Regtl B'day | ||||||
| dd Excess of Income | -£ 19,920.52 | Nepal Cup | ||||||
| ract Excess of Income | £ - | Attestation Pde | ||||||
| ted General Purposes | Fund | £ 200,637.01 | Regt Newsletter | |||||
| ng Capital and Total Fixed Assets | TW team | |||||||
| Heritage improvements | ||||||||
| Regt Tent Purchase 2022 Remainder | ||||||||
| QG Signals P&D | ||||||||
| Signature | of Fund Manager | |||||||
| Totals | £ 2,345.70 | |||||||
| Signature of Internal Auditor: | ||||||||
| Travel | £ - | |||||||
| Office | ||||||||
| Grand Totals | £ 29,611.96 |
|---|---|
| Balance Income over Expenditure |
| E AND EXPENDITURE FOR THE PERIOD 1 JAN 2024 - 31DEC 2024 | E AND EXPENDITURE FOR THE PERIOD 1 JAN 2024 - 31DEC 2024 | E AND EXPENDITURE FOR THE PERIOD 1 JAN 2024 - 31DEC 2024 | E AND EXPENDITURE FOR THE PERIOD 1 JAN 2024 - 31DEC 2024 |
|---|---|---|---|
| 23 | INCOME/EXPENDITURE 2024 | ||
| Expenditure | Item | Income | Expenditure |
| General | |||
| £ 2,345.70 £ 16,000.00 £ - |
Dividends Donations BEWF Grant Gift Aid Investment Return Share Purchase Trust Reserve AFCIF Withdrawal |
£ 8,745.17 £ 1,620.00 £ 16,842.45 £ 685.00 £ 16,440.96 £ 14,000.00 |
£ - £ - |
| £ 18,345.70 | Totals | £ 58,333.58 | £ - |
| QGSA | |||
| £ 405.00 £ 2,000.00 £ 200.00 £ 5,500.00 £ 250.00 £ - £ - £ - £ - |
Memberships GBA Mship QGSA (Nep) 75th Pokhara Museum QGSA (UK-S) QGSA (HK) 75th Sec Discretionary |
£ 320.00 | £ 405.00 £ 12,700.00 £ 350.00 £ 45.00 |
| £ 8,355.00 | Totals | £ 320.00 | £ 13,500.00 |
| **Regt ** | |||
| £ - £ 500.00 £ 500.00 £ 6,500.00 £ 4,000.00 £ 1,500.00 £ 1,500.00 £ 500.00 £ 1,500.00 £ 1,000.00 £ 2,230.00 £ 1,000.00 £ - £ - |
Donation BST 75th Grant NST 75th Grant Dasain Regtl B'day Nepal Cup Attestation Pde Regt Newsletter TW team Heritage improvements Birthday Coins Birthday Painting |
£ 1,500.00 | £ 1,000.00 £ 1,000.00 £ 6,500.00 £ 17,100.00 £ 1,500.00 £ 1,500.00 £ 500.00 £ 1,500.00 £ 1,000.00 £ 12,996.00 £ 2,500.00 |
| £ 20,730.00 | Totals | £ 1,500.00 | £ 47,096.00 |
| £ 311.85 | Travel | £ - | £ - |
| £ 14.84 | Office | £ 15.30 | |
Balance as at 1 Jan £5,833.97
| £ 47,757.39 | Grand Totals | £ 60,153.58 | £ 60,611.30 |
|---|---|---|---|
| -£ 18,145.43 | Balance Income over Expenditure | -£ 457.72 | |
| Initial Bank Balance £ 5,833.97 Final Balance 5,376.25 |
| Income | Income | Expenditure | Expenditure |
|---|---|---|---|
| Donatons | £1,620.00 | Regt Grants | £47,096.00 |
| Dividends | £8,745.17 | Assoc Grants | £13,500.00 |
| Regt Cutng | £1,500.00 | 2023 Expenses | £15.30 |
| BEWF | £16,842.45 | Shares Purchase | £0.00 |
| Membership | £320.00 | ||
| Gif Aid | £685.00 | ||
| Investments | £30,440.96 | ||
| Total Income | £ 60,153.58 | Total Expenditure | £ 60,611.30 |
| Income over Expenditure -£ 457.72 | |||
| Balance as at 31 Dec £5,376.25 |
INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES FOR THE YEAR ENDED 2023 Report I wish to report on the accounts of the Queen's Gurkha Signals Trust for the year ended 31 December 2024 as set out on the attached documents. Responsibilities of the Trustees and the Examiner As explained more fully in the Trust Charter, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. The Treasurer, on behalf of the Trustees, is responsible for overseeing the preparation of the financial statements. I have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Independent Examiner's Report My examination was carried out in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. l am independent of the Queen's Gurkha Signals Trust Fund in accordance with the ethical requirements that are relevant to an audit of the financial statements in the UK, including the FRC'S Ethical Standard, and I have fulfilled my ethical responsibilities in accordance with these requirements. I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my opinion. Independent Examiners Opinion The following comments are offered to the Treasurer and Trustees: In respect of my examination, the financial statements provided: give a true and fair view of the state of the Queen's Gurkha Signals Trust Fund affairs as at 31 Dec 24 and of its incoming resources and application of resources for the year then ended" matches accurate overall worth of the fund including income and expenditure details. All evidence provides includes the balance sheet, bank statements, receipts and payment supporting documents. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. confirms the accurate accounting and have been prepared in accordance with the Charities Act 2011.
This report is made solely to the Queen's Gurkha Signals Trust Fund Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. The audit has been undertaken so that I may state to the Trustees those matters l am required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my audit work, for this report, or for the opinions that I have formed. Signed: Date: Capt Sumit Joshi Regimental Admin Officer 30 Signal Regiment Gamecock Barracks Bramcote Nuneaton Warwickshire CV116QN .0TH I 18 blA(, I,IUIQEk', I APSWJICKSHIRE C