2022-12-31-accounts - Princess Of Wales's Royal Regiment (Queen's And Royal Hampshires) Benevolent Fund

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The Charity
The Charity was formed in 1992on the formation ofthe Regiment		from forebear regiment charities'. The Charity's
effiaency ofthe Regiment. All grants were made in line wit objectives are Benevolence and Welfare for our serving personnel, 'h		veterans, and dependents and to promote the
these objectives.		Case Study 1(notefor all cases thatinitial interaction
		is carried out by SSAFA)
Income during the year was similar to 2021at 6366k. A small surplus off5k was realised after expenditure.		Status: Veteran
Investment losses (unrealised) over the near were almost		Background: This veteron suffered severe burns
f700k which is a reflection on the markets post COVID and		becouse ofan occupational explosion. As the main
economic situation after the invasion of Ukraine. This loss has		provider forthe family finances had taken a hit and
recovered by cf500k in the first quarter of2023.		the fomily were struggling with day-to-day living.
The trustees are mindful that the use of charitable funds		The veteran's condition required agreat deal oftravel
should have an element ofbenefit to the public and the		toattend medical appointments to address his injuries
remainder ofthis report lays out the Charity's position in this		and an updated diognosis put extra demands on this
respect.	family.
Equality &Diversity Statement	A request was made foro contribution towords
The Regiment conforms to the Army's Values and Standards'		general needs, an OTreport and a specialist bed.
and trustees are required to adopt these standards which are
akin to the Nolan Principles4. The Regimental Family consists		Grant f1000
of diverse ages (from children to aged veterans), sexes, sexual orientation, nationalitiess, ethnicity and religious		Referral to military charities: ABFf1000ond TRBL
backgrounds; all ofwhom are supported with proper regard	f300
to any protected charactedistics. The trustees aspire for
greater diversity on the Management Board and in 2022 the trustees agreed to amend the Trust Deed to allow any
person with the necessary skills to become a trustee rather than	an officer who had served in the regiment (however,
Kings Regulations in dealing with the Days Pay' scheme specify that the Chair ofthe charity must be a serving or
retired officer).

							31.12.22	31.12.21
						Endowment	Total	Total
			Notes	Designated f	Unrestricted f	funds f	funds f	funds f
INCOME AND ENDOWMENTS
FROM
Donations and legacies			3	40,151	183,985		224,136	279,684
Charitable activities
Hardship or distress		relief for
former and serving	members			235	12,228		12,463	7,490
Investment income			4	73,646	53,315	~2434	129,395	148,740
Total				114,032	249,528	2,434	365,994	435,914
EXPENDITURE ON
Raising funds				13,890	32,117	59	46,066	80,507
Charitable activities
Hardship or distress		relief for
former and serving	members			115,395	199,613		315,008	220,408
Total				129,285	231,730	59	361,074	300,915
Net gains/(losses) on
investments				(634,880)	(41,367)	(19,803)	(696,050)	546,565
NET INCOME/(EXPENDITURE)				(650,133)	(23,570)	(17,428)	(691,131)	681,564
Transfers between	funds		14	30,971	(30,971)
Other recognised gains/(losses)
Gains on revaluation		offixed
assets								187,184
Net movement in funds				(619,162)	(54,541)	(17,428)	(691,131)	868,748
RECONCILIATION OF		FUNDS
Total funds brought	forward			3,892,008	3,037,338	128,846	7,058,192	6,189,444
TOTAL FUNDS CARRIED
FORWARD				3,272,846	2,982,797	111,418	6,367,061	7,058,192

						31.12.22	31.12.21
					Endowment	Tota I	Total
		Notes	Designated f	Unrestricted f	funds f	funds f	funds E
FIXEDASSETS
Tangible assets		7		562,222		562,222	400,991
Heritage assets		8		99,894		99,894	99,894
Investments		9	3,257,128	2,318,933	109,043	5,685,104	6,381,450
			3,257,128	2,981,049	109,043	6,347,220	6,882,335
CURRENT ASSETS
Stocks		10		12,618		12,618	12,718
Debtors		11		11,354		11,354	30,407
Investments		12		3,206		3,206	18,909
Cash in hand			15,718	99,013	2,375	117,106	346.824
			15,718	126,191	2,375	144,284	408,858
CREDITORS
Amounts falling due within one
year		13		(124,442)		(124,442)	(233,001)
NET CURRENT ASSETS			15,718	1,749	2,375	19,842	175,857
TOTAL ASSETS LESSCURRENT
LIABILITIES			3,272,846	2,982,797	111,418	6,367,061	7,058,192
NET ASSETS			3,272,846	2,982,797	111,418	6,367,061	7,058,192
FUNDS		14
Unrestricted	funds					6,225,643	6,929,346
Endowment	funds					111,418	128,846
TOTAL FUNDS						6,367.061	7.066.162

4.	INVESTMENT INCOME
			31.12.22	31.12.21
			E	E
	Other fixed asset invest	—Fll	128,545	148,421
	Deposit account interest		850	319
			129,395	148,740
5.	GRANTS PAYABLE
			31.12.22	31.12.21
			E	6
	Hardship or distress relief for former and serving members		87,778	72,679

TANGIBLE FIXEDASSETS
		Improvements	Fixtures
	Freehold	to	and	Computer
	property	property	fittings	equipment	Totals
	f	E	E	f	E
COST
At 1January 2022	400,000		800	11,505	412,305
Additions		164,615		1,108	165,723
At 31December 2022	400,000	164,615	800	12,613	578,028
DEPRECIATION
At 1January 2022			267	11,047	11,314
Charge foryear		3,292	53	1,147	4,492
At 31December 2022		32,923	320	12,194	15,806
NET BOOK VALUE
At 31December 2022	400,000	161,323	480	419	562,222
At 31December 2021	400,000		533	458	400,991

HERITAGE ASSETS
	Tota I
	E
MARKET VALUE
At 1January 2022 and 31December 2022	99,894
NET BOOKVALUE
At 31December 2022	99,894
At 31December 2021	99,894

FIXEDASSET INVESTMENT	S
			Listed
			investments
			E
MARKET VALUE
At 1January 2022			6,381,450
Revaluations			(696,346)
At 31December 2022			5,685,104
NET BOOKVALUE
At 31December 2022			5,685,104
At 31December 2021			6,381,450
There were no investment	assets outside the UK.
Cost or valuation at 31December 2022 is represented		by:
			Listed
			investments
			E
Valuation in 2022			5,685,104

10.	STOCKS
									31.12.22	31.12.21
									f	f
	Stocks								12,618	12,718
11.	DEBTORS:AMOUNTS		FALLING DUE WITHIN ONE YEAR
									31.12.22	31.12.21
									f	f
	Other debtors								8,854	7,031
	Prepayments	and accrued income							2,500	23,376
									11,354	30,407
12.	CURRENT ASSET INVESTMENTS
									31.12.22	31.12.21
									f	f
	Listed investments								3.206	13.909
13.	CREDITORS:	AMOUNTS		FALLING		DUE WITHIN	ONE YEAR
									31.12.22	31.12.21
									f	f
	Trade creditors								14,666	16,544
	Taxation and	social security							(950)
	Other creditors								110,726	216,457
									124,442	233,001
14.	MOVEMENT	IN FUNDS
								Net	Transfers
								movement	between	At
							At 1.1.22	in funds	funds	31.12.22
							f	f	f	E
	Unrestricted	funds
	General fund						3,037,338	(23,570)	(30,971)	2,982,797
	The Cadets Endowment			Fund			13,100	128,703		141,803
	The Queen's	Regiment		Benevolent		Fund	1,965,756	(457,252)	30,971	1,539,475
	The Queen's	Royal Surrey Benevolent
	Fund						1,913,152	(321,584)		1,591,568
							6,929,346	(673,703)		6,225,643
	Endowment	funds
	The Royal Sussex Regimental				Association		128,846	(17,428)		111,418
	TOTAL FUNDS						7,058,192	(691,131)		6,367,061

					Incoming	Resources	Gains and	Movement
					resources f	expended E	losses E	in funds
Unrestricted	funds
General fund					249,528	(231,730)	(41,367)	(23,570)
The Cadets Endowment		Fund			3,128	(91)	125,666	128,703
The Queen's	Regiment	Benevolent		Fund	75,077	(106,048)	(426,281)	(457,252)
The Queen's	Royal Surrey Benevolent
Fund					35,827	(23,146)	(334,265)	(321,584)
					363,560	(390,646)	(676,247)	(673,703)
Endowment	funds
The Royal Sussex Regimental			Association		2,434	(59)	(19,803)	(17,428)
TOTAL FUNDS					365,994	(361,074)	(696,050)	(691,131)
Comparatives	for movement		in funds
							Net
							movement	At
						At 1.1.21	in funds	31.12.21
						E	E	E
Unrestricted	funds
General fund						2,795,012	242,326	3,037,338
The Cadets Endowment		Fund					13,100	13,100
The Queen's	Regiment	Benevolent		Fund		1,552,034	413,722	1,965,756
The Queen's	Royal Surrey Benevolent
Fund						1,726,149	187,003	1,913,152
						6,073,195	856,151	6,929,346
Endowment	funds
The Royal Sussex Regimental			Association			116,249	12,597	128,846
TOTAL FUNDS						6,189,444	868,748	7,058,192

					Incoming	Resources	Gains and	Movement
					resources	expended	losses	m funds
					E	E	f	E
Unrestricted	funds
General fund					273,379	(218,237)	187,184	242,326
The Cadets Endowment		Fund				(435)	13,535	13,100
The Queen's	Regiment	Benevolent		Fund	118,709	(75,860)	370,873	413,722
The Queen's	Royal Surrey Benevolent
Fund					41,273	(6,045)	151,775	187,003
					433,361	(300,577)	723,367	856,151
Endowment	funds
The Royal Sussex Regimental			Association		2,553	(338)	10,382	12,597
TOTALFUNDS					435,914	(300,915)	733,749	868,748

				31.12.22	31.12.21
				E	E
INCOME AND ENDOWMENTS
Donations and	legacies
Donations				182,886	265,360
Grants				41,250	14,324
				224,136	279,684
Investment income
Other fixed asset invest			—FII	128,545	148,421
Deposit account interest				850	319
				129,395	148,740
Charitable activities
BookSales				12,463	7,490
Total incoming	resources			365,994	435,914
EXPENDITURE
Raising donations		and legacies
Investment Management			Costs	3,162	18,147
IVlembership Costs				2,196
Presentation Costs				21,800	17223
Events Costs				10,522	42,312
Remembrance	Costs			8,386	2,825
				46,066	80,507
Charitable activities
Travel				8,939	7,835
Telephone				384
Postage and stationery				4,298	23,752
Sundries				108
Insurance				6,515	7,474
Consultancy				29,092	36,173
Hospitality				11,747	13,909
Trustee Meeting Costs				1,768	21,172
Accountancy				9,620	8,914
Subscriptions				2,706	1,250
Office Expenses				14,139	3,159
Website Costs				25,386	6,030
Carried forward				114,702	129,668

			31.12.22	31.12.21
			E	E
Charitable activities
Brought forward			114,702	129,668
Soldier Support			25,601
Journal Pdinting Costs			46,149	10,850
Donations			1,000
Regimental Chattels Expenses			27,401
Repairs and Renewals			1,285
Improvements to property			3,292
Fixtures and fittings			373	659
Computer equipment			827
Grants to individuals			87,778	72,679
			308,408	213,856
Support cos'ts
Governance costs
Auditors' remuneration			3,000
Auditors' remuneration		for non audit work	3,600	3,276
Hire of plant and machinery				3,276
			6,600	6,552
Total resources expended			361,074	300,915
Net (expenditure)/income		before gains and
losses			4,919	134,999
Unrealised recognised	gains and losses
Unrealised gains/(losses)		on fixed asset
investments			(696,050)	546,565
Net (expenditure)/income			(691,131)	681,564