REGISTERED CHARITY NUMBER: 102S591 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 FOR THE RIFLES OFFICERS. FUND
THE RIFLES OFFICERS. FUND CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Page Report of the Tru8tses 1 to 6 Ind•pendont Examinerfs Roport St*ement of Flnancial Actlvltl85 Balance Sheet Notes to the Financial Statemen15 10 10 17
THE RIFLES OFFICERS. FUND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025 The Injslees present their report W71h the finanual staternents of the tharity for the year ended 31 December 2025. The trustees have adopted the proisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo tharilies preparing their accounts in accoriiance wth the Financial Reporting Stanilard applicab in the UK and Republic of Ireland (FRS 1021 (effective 1 January 2019)- OBJECTIVES AND ACTIVITIES Prfnciple Activitles and Pollcies The prinapal acbvity of the Charity is the relief of persons who are In need by virtue of financial h8rdship. slekness, disability or the effects of old age, who are officers and fomier Dfficer5 of The Rifles. fomier officers of the RGJ and its antecedent regiments or th8ir families and dep&ndanls. To the extent that income is not required for the principal actimty, the Trusteps may apply it for the benefit of serving officers of The fvfles in such charitabl8 Ways for the offioency of the Regiment as the Truste8s may deade. To Ihis end, exce55 incorne in any year may be passed lo an Iceb8rg Fund. Grant making The Trustees meet annuaty in January to consider the budget for the year and any requests for onwing or new grants. The Trustees are alsa the Trustees of The Rifles Benevolent Trust who need to meet quarterly to ratrfy grants. Such quarterly meetrng5 also give the Trustees the opportunty lo consider income and expenditure on The Rines Offic&s Fund and any additional grants Ihat have been requested. Befven TnJslee Me8tings, the Grants Sub Committee can conslder any urgent cases and make grants wthin certain mits or recommend to the other Trustees that a higher grant should be made. Officer5 are also beneficiaries of The Rffles Benevolent Trust which wll nomialby be the first fvnd which Is asked to help in officer cases. Income In 2025 m051 of the income. £39,4731£42,5471, was from the investment pctfolio. Grants Benevdenl grants lo individual officers or their widows totalled £19.380 1£11,5001- In 2024 expenditure once again remained bw as most requests for individual benevolence were met by The Rifles Benevolent Trust, where applications rnet their cnteria. as they are the lead regimental bev(lence chatity. Tnjslees also approved payment towards the venue costs of the Officers Regimental Dlnner amounting lo £17,760 (£11,460). A grant was made for Officers Welfare to the King Edward Vll Hospital for Officers lo £500 (2024.. £%101. Offi(Er recruiting expended £38,0791£44,0061. This included the salary for the Officer Recruillng post, which is current being subsidised by the Charty due to a freeze on recruitment. £15K (£10K) was transferred to the Icetrerg Fund. Publlc Beneflt The following statements take into account the Charity Commission'5 guidance on public benefit disdosure. The Trustees are conscious that the us8 of charitable funds should have an element of b8nefil lo the publi¢. The main object of The Rffies Officers, Fund is to provide relief to officers who are or have been in the R8giment who are suffering from hardship or distress. The Twstees believe that this demonstrates the Charity'5 adherenc8 to the spirit and principle of public benefit. The beneficiary dass is wide and, although it include5 current serwng officers, the main b&nefiaarie5 are veteran5. wdows and dependants. Grants are targeted and based solety upon need - such relief does not duplicate state benefit. It is therefore considered that there is an id8ntifiable benefit. and it is to the indiwdual and to the nation at large. The existenix of th8 Charity helps lo ensure high morale and hlgl standards in The Rffles and thus contriblrtes to the effectiveness of the countys amied forces which in turn brings tangible benefits to the public. Page 1
THE RIFLES OFFICERS, FUND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025 ACHIEVEMENTS AND PERFORMANCE The G0Veman Sub Committee has again canied out a fvll remew of the risks to thich the Charity might be exposed, and improvements have been rnade to the risk analysis. FINANCIAL REVIEW Flnanclal and Markets R•view As at 31 December 2025, the OfficeryJ Fund porttoliD was valued at £2,373,375 (2024.. £2,193,421). 2025 delivered strong retums across most asset dasses. 8UPPOrted by steady global growth, optimism arjnd Al, and shrfts loward looser monetary policy, despite significant volatility. Markets were shaken eaty in the year following President Trurnp's tariff annOUnments, but sentiment improved after negOtiatj tariff reductions and sUppOva fiscal measures in the US, Europe, and China. Central banks eased policy, with the Fed cutting rates by 0.75% and Ihe BOE and ECB by 1%, helping offset g8opoli(ical risks and debt concems. Global equities perfomied strgty. with the MSCI ACWI up +13.9OA 1£). Al linked stocks again led gains, while Wodd ex US and emerging maTkets outperfomied the US for the first time in a number of yea. Bonds had their b85t year since 2020, though performance varied by region, and yield cuNes flattened as short end yields fell. Commodities saw dramatic divergenGe. with gjld and sifver surging while oil fell for a third year. Within the FrtfOlIo. the equities produrEd strong retums. The finanaals and communication services contributed m()st Strongly, standout gains from BBVA, Standard Chartered. Alphabet, and Tennt. Detrdclors came from industrials. heamhcare. materials, and parts of technology. where lariff uncertainty and macro pressures weighed. Non equity exposures perfomied well, led by gold. logelher th the investment grade credit and asset backed Securities allocations. In¢xsme from investments in 2025 was £39.442 1£42,5411. Total expenditure on tharitsble actiwties. governan and support costs amuuF)ted to £64.661 (£64,733). The gain on investments amounted to £200,954 (£198,360) and the fijnds carried forward on the Balance Sheet amount to £2,376,581 1£2.228.153). Inc%eas8 in expBnditure was due to absorbing the cost of employing, as an Intedm measure, a Rifies Recruiting Officer (kJe to a MOD recruiting ban following the death of Lt Col Dick Ovey. Risk Managemont Trustees consider that the wari&ty of investments with a dIveie investlnent portfolio exercised through the Fund managers, Cazenove Charitss, along with a 'total retum" approach. This alkjws a drawdown on caprtal of 3Yo. including investment income. plus an uplift factor to meet budgetary requirements 11% for 2023) which is monitored and recommended by the investments sukTrcofnmtttee and helps to stabilise the InMe and mttigates the risks as far as Is possibte. The Trustees will also approve a further drawdown of capttal were deemed necessary to meet essential demands in support of the Regiment Iserwng. former and antedentI its tlflemen and their dependents. However, to meet any extraordinary demand5 placed upon it a reassessment of the level of grants awarded takes place at their January meeting each year ary adjustrnenl neSSary being made to ensure the long-temi ability to support the Regimental TamlW. Reserves poIIcy A rewew took place in late 2021 and a baseline of 3% of the average mar1(et value of the pwJthlio over 3 years was retained {including actual investment income) and an 8dditlonal uplrft of IQA was agreed to enable th8 budgetary requirement for 2024 to be met. Golng forwanl for 2025 the basellne of 3% of value Is to be retained., this comprises of actual Investment income topped up by a drawdown, if required, from UnstriCted fund& STRUCTURE, GOVERNANCE AND MANAGEMENT Govqrning document The charity is (x)ntrolled by its governing document, a deed of trust and constitutes an unin¢orpor8ted charity. Page 2
THE RIFLES OFFICERS. FUND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025 The charity is controlled by its goveming document, a deed of trust and constitules an unincorporaied charity. The Rffle5 Offir5, Fund is a registered charity originally established as the Royal Green Jackets offir5, Fund under a Trust Deed dated 14th April 1966. By a Scheme dated 16 December 2008 the Charty was renamed The Rifles offiS Fund the Trust Deed rwritten. The Charity 15 for the relief of persons who are in need, hardship or distress who are officers or former officers of the Regiment and of the fomier Regirnenls or the Reserve Iformedy Territorial) units, or the f8milies and dependants of such persons. The definitions of the Regiment and the former Regiments in the Scheme mean that the Fund ran support offir$ and former officers of The Rffles, fomier officers of the Royal Green Jackets and its antecedent Regiments, or their families and dependants. The Regimentsl Trustees are the Finan Comrnittee of The Rifies Council, the goveming body of the Regiment. The TnJslees are also Trustees of The Rifles Regimental Trust and The Rilles 8enevolent Trust, the business of which is conducted al the same meetings of TnBtees. Governance There are up lo eight Icurrenlly four) Ex-offiao Trustees, being the Sen1 serwng officers of the Reglmenl. In addluon, there are up lo twelve Icurrenuy six) Nominated Truslees. the majority of whom have specific skills such as in the investment or legal fields and others have commanded battalions of The Rtftes or of Forming Regiments. A Nominated Trustee must be an officer or warrant officer, or forffler officer or warrant officer, of the Regimenl or of a Foming Regiment and may include a wfe Dr wdow of such. In moknng suth apFX)inlmenls care is taken to ensure representation from each of the Former Regiments. Nominated Trustees are elected for terms not exceeding four years an(J may be re-elected for a maximum of 4 terms. Re-elections are rotational and take place annualty nonnally at the April Trustees meeting. In 2025, Mr Jeremy Archer, Colonel Nikola Ilic, Lieulen8nl Colonel IReldl Simon Gray, Colonel Ashley Fulfood and Mr Oliver Marsh retired. and Mr Rob Reynolds commenced as a Iruslee. Meetings of the Trustees are held quarterty. nomialty in January. April, July and October. The Trustees have a Nomination Sub Committee which, annually and when a vacanry occurs, considers Skjitsble andidates to infOrCe the skills or representation of the TTUStees and proposes candidates to The Rifles Council for nornination. New nominated candidates, as well as Nominated Trustees seeking r&dection. are elected by the Trustees al the Sprin9 (secondl rneeting each year. New Nominated Trustees are briefed by the Chairrnan of Trustees and an appointment are given an induclion pack of background information on eath of the Regimental Charities. induding copies of Trust Deeds, annual accounts and minutes of recent meetings. and a c4)py of Charity commissi( booklet 'Respon8ibilities of a Charity Trustee,. Training through seminars etc is made available for 911 Trustees. Other Sub Commillees, lo cover the wortf of all The Rrfles Charities, have been fomied for Governan, Finance, Grants, Remuneration Investment. In additson, there is a Homes Sub Committee to manage propee$ (Green Jacket Closel owned by The Fmes Benevolent Trust. The Nomination Committee annualty wews the membership of Sub Committees to ensure that Trustees use their skills appropriately and gain experience trom the work of such Sub Committees. The risks to whith the Charity is vulnerabte are reviewed annualty by the Trustees after detailed work by the Governance Sub Committee. The Trustèes CnsIder the major risks lo lch the Charity be exposed and review the systems established to mitigate suc* risks. They are not aware of any irregularibes, induding fraud, involmng management or employees of the Charity; nor are they aware of any instances of actual or non-compliance with laws, regulations, contracts or agreements that might resu in the Charity suffering significant penatties or other loss. Page 3
THE FLEs OFFICERS. FUND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Key management remuneration The fTUSte8s oinsider the board of Trustees and the RiN8s R8gimental Secretary (also a Tru51ee) and the Rines Secrelary Finance as the Key Management personnel of the Chartty. Al Trustees give of their time freety and are not rernunèrated for their time spent on work on behalf of the Charity. The day404ay management is invested in other senior representatives in RHQ The Rifles. Remuneration of the Regimentsl Secretary as a Trustee has been approved by the Charity Commissioners and the sum along with any other ex gratia awards to the other senior members of RHQ Stsff are approved by a special meeting of Trustees held every 3 years. All awards are made annually and are scnjtinised and approved by the ReTnunerations Su&committee. Remunerations SUkCommittee also srxe8ns any other ex gratia awards recommended by the Regimental Secretary other members of the RHQ staff from an agreed budget Payment of award5 wll generalty be paid in December af each year. Dedaration of any related paty issues are contained a5 appropriate in the audtiovs notes. there has no such onflicl in the CUent year. In a55essing the award5 trustees asses5 against perfomiance, as there is no benthmarf( with which to c#NnpaTe the ex%rali8 payments. Trustees are also required to disdose all rethant interests in connection wth any grant application and in aceordance vthth the Trusys policy wilhdraw from discussiS where any conflict of Interest arises. There has been no suth eonfiict the ojrrent year. REFERENCE AND ADMINISTrATIVE DAlLs Registorod Charity nurnr 1025591 Prlnclpal address RHQ The Rifles Peninsula Barfacks Rolnsey Road Winthester Hampshire S023 8TS Page 4
THE RIFLES OFFICERS. FUND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025 Trusts Lieutenant Gèneral Thornas Richardson Copinger-symes CBE - retired April 2025 Lieutenant General Chades Seymore Collins DSO OBE- retired April 2025 Maj General Thoma5 Howard Bewck OBE - tIred April 2025 Major General Daniel Reeve MC Brigadier James Michael Henry Allen 08E appointed Jan 2025 Brigadier Malhew Richard Baker Brigadier Mark Christian Peter WilsM MBE- reb'red April 2025 Colonel Ralph Graham Arundell Colonel Ashley Raymond Fulford OBE- retired April 2025 Colonel Nikola Ilic MBE QGM- retired April 2025 Lieutenant Colonel Peter James Alexander Balls OBE Lieutenant Cok)nel Simon David Gray MBE - retired April 2025 Captain Robert Gribble - retired April 2025 Captain Adrian Hinks Jeremy Michael Archer- retid Aprl 2025 Simon Chades H821itt- Chaimian Rebecca Chark)tte Mauejewska Oliver Rupert Marsh- retired April 2025 Robert Charles Reynolds- appointed January 2025 Henry Chades Steel The offices of the Charity are based in the Regimental Headquarters of The Rifles which is an MOD establishrnent. Accommodation doe5 not cost the Charity. Throughout 2025 the person responsible for the day lo day running of the Charity was The Rwnes Regimental Secretary and Trus. Lieutenant Colonel {Relired) PJA Balls 08E, asslsted throughout the year by The Rffles Assistgnt Regimental Secretary {Financel Finan Kale Badcock. Independent Examlnar Paul Underwood FCCA Morris Crocker Chartered Accountants Lake House 2 Port Way Port Solenl PortsmoLrth Hampshire P06 4TY Bankers Royal Bank of Scofland plc Military Banking Lawrie House Victoria Road Farnborough Hampshire GU147NR Solicltors Blake Morgan New Kings Court Tollgate Chandlerfs Ford S053 3LG Page 5
THE RIFLES OFFICERS. FUND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025 REFERENCE AND ADMINISTrATNE DEfAILS vestrnent ManageTS Cazenove Capital Management 1 London Wall Place London EC2Y SAU 13AJb ApFwoved by order of the board of trustees on ..... . signed on its b8hair ty. S C Hazlitt- Trustee Page 6
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE RIFLES OFFICERS. FUNO Indopondent examinerfs rgport to the trustses of The RillDs Officers. Fund I report to the charity Irustees my examination of the accounts of The Rines Officers, Fund (the Trust) for the year ended 31 Drllber 2025. Responslbilities and basls of rgport As the Gharity Iruslees of the Trust you aTr responsible for the preparatIC of the accounts in accordance with the requirements of the Ch8riknes Act 2011 (the Aci,). I rerort in respeGt of my examination of the Trusfs accounts Carried out under Section 145 of the Act and in carrwng out my examination I have followed all appliGat4e Direclons given by the Charity Commission under Seclion 14515Xbl of the Act. Independent examinerfs Statement I have Cx)mpleled my 8xamination. I confirm that no material matters have come to my attention in connection with the ex8min8lon giving me caus8 to believe that in any material respect: accounting r8c4)rds were not kept in respect of the Trust as requi by Section 130 of th6 Act., or the accounts do not accord wth those cOrdS. or the accounts do not comply with the applicable requirements conceming the fomi and content of accounts set OLrt in the Charities {Acci)unts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair eW which is not a matter congered as part of an indepandent examination. I have no concems and have come acrDSS no other matters in connection th the examination to which attention should be drawn in thi5 report in Order lo enabk8 a proper vnderstsnding of the accounts lo be reach8d. Paul Underwood FCCA Morris Crocker Chartered Accountants Lake House 2 Port Way Port Solenl Portsmouth Hampshire P06 4TY Date.. Page 7
THE RIFLES OFFICERS FUND STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 310ECEMBER 2025 2025 Unrestricted fvnds 2024 Total funds Notes INCOME AND ENDoWMEfS FROM Donations legaues 32 Inveslmerrt income 39.442 42.541 Total 39,474 42,S47 EXPENDrruRE ON Raising fund5 7.959 Charltsble actfvltles Individual benefiaari&s Grants and pensions 64,661 19,380 80,649 11,500 Tolal 92,000 100,813 Net gains on investments 200,954 198,380 INCOME 148,428 140,094 RECONCILIATION OF FUNDS Tota5 funds brought foN 2,228.153 2,088,059 TOTAL FUNDS CARRIED FORWARD 2.376.581 2.228,153 CONTINUING OPERATIONS l income and expenditure has arisen from continuing activities. All funds within 2024 were unrestricted. The notes fo part ofthese finanaal statements Page 8
THE RIFLES OFFICERS. FUND BALANCE SHEET 31 DECEMBER 2025 2025 Total funds 2024 Totsl funds FIXED ASSETS Irwestments 10 2,373,375 2.193.421 CUFIRENT ASSErs Debtors Cash al bank 11 11,377 1.914 22,006 24.027 13,291 46.033 CREDITORS Amounts falling due withln one year 12 (10.085) (11,3011 NET CURRE1 ASSETS 3.206 34,732 TOTAL ASSETS LESS CURRENT LIABIUTIES 2.376,581 2,228,153 NET ASSErs 2.376.581 2,228.153 FUNDS Unrestricted funds 13 2,376,581 2,228,153 TOTAL FUNDS 2,376,581 2,228,153 The fina ial slalements were approved by the BO31 of Trustees and authorised for issue . and were signed on its behalf by: S C Hazlitt- Trustee The notes form part of these financi81 slatements Page 9
THE RIFLES OFFICERS. FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2025 ACCOUNTING POLICIES Basis of preparing the finan¢ial statements The finanaal statements of the tharity, which 18 a public nefit enb'ty uler FRS 102. have teen prepared in accordan with the Charities SORP (FRS 1021 'Acmunting and Repong by Charities.. Statement of Recommended Practrce ap•¢able to charities preparing their accounts in accordance the Finanoal Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (effective 1 January 2019)., Finanrjal Reporting Standard 102 'The Finanual Reporting Stsndard applicAble in the UK and Republic of Ireland. and the Charities Act 2011. The finana81 statements have been prepad under the historical CAJSt convention, th the 8ptIon of inv8$tments which are included at market value. as mcSified by the revaluation of certain assets. Going Concern The trustees believe that the going concem assumption remains appropriate for The Riffles Officers, Fund. Th8r8 are no known factors or conditions Ihat would suggest a need to question the charitys ability lo continue its operations for the foreseeab18 future. Income All inixjme is recoJnised in the Statement of Financial ActeS oncE the charity has entitlement to the funds, it is probable that the income wll be received and the amount Can be measured rekn'ably. Expendtture Liabilili8s are regnised as expenditijre as soon as there is a legal or constructive obllgation CLNnmtLbng the charity to that expendilure, it is probatre that a transfer of economic benefits 11 be required in settlement and the amount of the obligaliDn can be measured reliably. Expenditure is accounted for on an accruals basis and has been dassified under headings that aggregalg all cost relatsd to the category. Where costs cannot be directty attributed to partIlar headings they have been allocated to activities on a basis consistent vAth the use of resouTces. Grants offered subject to conditions whith have not been met at the year end dale are noted as a rJ)mmitment but not accrued as expenditure. Taxatlon The charity is exempt from tax on tts charitable aGtiMties. Fund aGcountlng Unrestricted funds can be used in accordance wpth the chaiitable objectives at the discretion of the trustee5. Restr(ed fvnds can onty be used for partigjlar restricted purposes within the objects of the tharity. Restrictions arise when specffied by the donor or when funds are raised for particular restricted purF¥)ses. Further explanation of the nature and rAJrpose of eath fund is induded in the notes to the finan¢ial statements. The charity onty ever enters into basic financial instruments transactions that result in the recognition of financAal assets and liabilities like trade and other accounts receNable and payable. loans from banks and other third parties and loans related to parties and investments in non-puttable ordinary share5. Trade and other debtors Short term debtors are measured at tr8nsaction prf, less any impalrfflent. Loans receivabie are measured initially at fair value. net of transaction cost. arKI are measured subsequ8ntly al amortised cost using the effective interest method, less any iTnpaimienl. Cash and cash equivalents Cash and cash equwalents (xxnprise cash and bank and on hand, d8POSits banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet. bank overdraft5 are Wthin borrovngS or current liabilities. Page10 ¢Mtinued...
THE RIFLES OFFICERS. FUND NOTES TO THE FINANCIAL STATEMENTS - ¢ontlnued FOR THE YEAR ENDED 31 DECEMBER 2025 ACCOUNTING POLICIE5 - Gontinued Flnanclal Instruments Trade and other creditors Short tem trade creditors are measured at the transaction price. Other finanaal liabiliknes. Indudlng bank loans. are measured initially at fair value, net of trdnsaction costs, and are measured subsequenly at amortised C•)St using the effedve Interest method. DONATIONS AND LEGACIES 2025 2024 Donatiun5 32 INVESTMENT INCOME 2025 2024 Investsnent income 39.442 42,541 AJI investment income is derived from assets he in the United Kingdom. RAISING FUNDS Raising donatlons and legacles 2025 2024 Sundries InstMent management costs 2025 2024 Portfolio management 7.959 7,220 Aggregate amounts 7,959 Page 11 continued...
THE RIFLES OFFICERS. FUND NOTES TO THE FINANCIAL STATEMENTS - corrtlnued FOR THE YEAR ENDED 31 DECEMBER 2025 CHARITABLE ACTivrriES COSTS Grant funding of actiwties (see note 6) Sup1 o)sts (see note 71 Totals Indmdual beneficiaries Grants and Fensions 64,661 64,661 19,380 19,380 19.380 64,661 84.041 GRANTS PAYABLE 2025 2024 Grants 8nd pensions 19.380 11,500 The total grarrts paid lo institutions during the year was as follows: 2025 2024 Husher Hosp for officers Iceberg 1 Rifie5 grant Hayes Simmons Treasure Lane RFCA Greater LoThlon Rifles Regimental Trngt 1,000 500 15,000 500 1,000 500 5.000 5,000 1.000 244 936 200 19,380 11,500 SUPPORT COSTS Govemance ManageMt Totals Individual benefioyaries 60,859 3,802 64,661 Page 12 ontinued...
THE RIFLES OFFICERS. FUND NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 DECEMBER 2025 SUPPORT COSTS - continued Support costs, induded in the above, are as follows: Management 2025 Individual beneficiaries 2024 Totsl acb'vilies Insurance Recruitment Database costs Officer events Staff Honorariun ountancy fees 1,116 38,079 1,116 44,006 2,917 11,460 1,650 17,760 2,650 1,254 60,859 61.149 G¢)vornanc• costs 2025 Individual beneficiaries 2024 Total activities Independent examinalron fee5 3,802 3.584 TRUSTEES. REMUNERATION AND BENEFITS There were no tnjstees, remuneration or (Aher benefrts for the year ended 31 December 2025 nor for the year ended 31 December 2024. Tru8tsgs' expenses During the year no Iruslees12024- nil) were reimbursed out of pocket expenses.12024.. £nil). COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcTIVlEs Unresth'cted funds INCOME AND ENDOWMENTS FROM Donab'ons and legacies Inv&%tment in¢ome 42,541 Total 42.547 EXPENDrruRE ON Raislng funds 8,664 Charitable activltles Indiwdual benaficiaries Grants and pensions 80,649 11,500 Totsl 100.813 Page 13 (xjntinued...
THE RIFLES OFFICERS. FUND NOTES TO THE FINANCIAL STATEMEKfs - contlnued FOR THE YEAR ENDED 31 DECEMBER 2025 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTlVtriES- continued Unrestiided funds Net gains on Investmenis 198.360 NET INCOME 140,094 RECONCILIATION OF FUNDS Total funds brought fOard 2.088,1)59 TOTAL FUNDS CARRIED FORWARD 2,228,153 FIXED ASSEf INVESTMENTS Listed Investments MARKET VALUE Al 1 January 2025 AddOnS DisFID5als Revaluations 2,193,421 2,042,536 {2,053.7161 191.134 At 31 December 2025 2,373,375 NET BOOK VALUE At 31 December 2025 2,373.375 At 31 December 2024 2,193,421 Gwraphical anatysis of investrnents: 2025 2024 Held inslde the United Kingdom Held outside the Unffed Kingdom 758,656 1.614,718 617,050 1.576,371 2,373,374 2,193,421 Page 14 cntinued...
THE RIFLES OFFICERS. FUND NOTES TO THE FINANCIAL sTATEmEs - contlnued FOR THE YEAR ENDED 31 DECEMBER 2025 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Other debtors 11.377 22,(M)6 12. CREDITORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 2025 2024 Trade LY8ditors other credit¢)rs 6.284 3,801 11,301 10,085 11,301 13. MOVEMENT IN FUNDS Nel movement in funds Transfers betsveen fijnds At 31.12.25 A11.1.25 Unreslricted funds General fund lber9 Fund 2.194,283 33.870 163,428 {15,000) (10.0001 10.000 2,347,711 28,870 2.228.153 148,428 2,376,581 TOTAL FUNDS 2,228,153 148,428 2,376,581 Net movement in funds. inGluded in the atL)ve are as follows= Incoming resources Resources expended Gains and losses Movement in funds Unrnstrlcted funds General fund IcAberg FUTh 39.474 {TT,000) (15,000) 200,954 163,428 (15,0001 39.474 (92,000) 200,954 148,428 TOTAL FUNDS 39.474 (92,000) 200.954 148,428 Page 15 continued...
THE RIFLES OFFICERS. FUND NOTES TO THE FINANCIAL STATEMENTS- conllnued FOR THE YEAR ENDED 31 DECEMBER 2025 MOVEMENT IN FUNDS - contlnued Comparotives for movoment in fvnds N8t vpment in funds Transfers bets¥een funds At 31.12.24 At1.1.24 Unrestrlcted fvnds General fund lber9 Fund 2,089,189 (1,130) 140,094 110.0001 10,000 2,219,283 8,870 2,088,059 140.094 2,228.153 TOTAL FUNDS 2,088,059 140,094 2,228,153 Comparative net movernenl in fUls, induded in the above are as follows.. Incoming resou$ Resources expended Gains and Movement in funds Unrestsicted funds General fund 42,547 {100,8131 198,360 140,094 TOTAL FUNDS 42,547 (ICKJ,813) 198,360 140,094 A current year 12 months and prior year 12 months cornbined position is as follows: Net movement in funds TransfeTS betsveen funds At 31.12.25 At1.1.24 Unrnstricted funds General fund Iceberg Fund 2,089,189 {1.130) 303,522 (15,0001 120.000) 20,000 2,372,711 3,870 2.088.059 288,522 2,376,581 TOTAL FUNDS 2,088,059 288,522 2,376.581 Pag8 16 ntinued...
THE RIFLES OFFICERS. FUND NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 DECEMBER 2025 13. MOVEMENT IN FUNOS-conlinued A current year 12 rnonths and prior year 12 rrM)nths combined net movement in fvnds, induded in the atM)ve are as follows.. Incomlng reSoUrS Resources expended Gains and losses Movement in funds Unrestrlcted funds General fijnd Iceberg Fund 82.021 {177,8131 115.0001 399,314 303.522 115.000) 82,021 1192.813) 399,314 288.522 TOTAL FUNDS 82,021 (192.813) 399,314 288,522 The icetrg fund supp(xts regimental events which members of the Royal Famty attend. RELATED PARTY DISCLOSURES 14. During the yearthe charity had the fouowlng transactions with related parbes: Related Party Relatlonship Nature of Transaction 2025 2024 The Rifle5 88nevolent Trust Shared board of trustees Shared board of twslees Salary obligations 38,483 34,780 The Rifies Regimental Trust Database costs Trustee rewards Insurance Awards dinner grdnl All other transaclons with related partl8s were conducted al am)'s length. 2,917 1,650 1,000 1,115 15,000 No guarantee5 w8re prowded lo or received frc*n relatad parties during the year. Page 17