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 pro*isions 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.
Befv￿en 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 pc*tfolio.
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 b￿ev(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 ar￿jnd Al, and
shrfts loward looser monetary policy, despite significant volatility. Markets were shaken eaty in the year following
President Trurnp's tariff annOUn￿ments, but sentiment improved after negOtiat￿j tariff reductions and sUppO￿va 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 str￿gty. 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 F￿rtfOlIo. the equities produrEd strong retums. The finanaals and communication services contributed m()st
Strongly, standout gains from BBVA, Standard Chartered. Alphabet, and Ten￿nt. 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 dIve￿i￿e￿ 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 In￿Me 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 ante￿dentI 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 ne￿SSary 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 Un￿striCted 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 Offi￿r5, Fund is a registered charity originally established as the Royal Green Jackets offi￿r5, Fund under a
Trust Deed dated 14th April 1966. By a Scheme dated 16 December 2008 the Charty was renamed The Rifles offi￿￿S
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 offi￿r$ 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 prope￿e$ (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 C￿nsIder 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 SUk￿Committee 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 CU￿ent 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 discussi￿S where any conflict of Interest arises. There has been no suth eonfiict
the ojrrent year.
REFERENCE AND ADMINISTrATIVE D￿AlLs
Registorod Charity nurn￿r
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- reti￿d 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 D￿rllber 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 cong￿ered 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 ENDoWME￿fS 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 BO3￿1 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 u￿ler FRS 102. have teen prepared in
accordan￿ with the Charities SORP (FRS 1021 'Acmunting and Repo￿ng 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 prepa￿d under the historical CAJSt convention, ￿th the
8￿ptIon of inv8$tments which are included at market value. as mc*Sified 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 Act￿￿eS 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 re￿gnised as expenditijre as soon as there is a legal or constructive obllgation CLNnmtLbng the
charity to that expendilure, it is probatr￿e 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 partI￿lar 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 borrov￿ngS
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
In￿stMent 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)
Sup￿1
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
ManageM￿t
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 AcTIV￿lEs
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 fO￿ard
2.088,1)59
TOTAL FUNDS CARRIED FORWARD
2,228,153
FIXED ASSEf INVESTMENTS
Listed
Investments
MARKET VALUE
Al 1 January 2025
Add￿OnS
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
c￿ntinued...

THE RIFLES OFFICERS. FUND
NOTES TO THE FINANCIAL sTATEmE￿s - 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
l￿ber9 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
l￿ber9 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 fU￿ls, 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
reSoUr￿S
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 icet￿rg 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