## **TRUST AIMS**
1. 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**
2. 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.
3. 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.
4. The Balance Sheet and Breakdown of Income and Expenditure for 2024 are attached.
## **PLANS AND EXPECTATIONS**
5. 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.
6. 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