Charity registration number ID3T942 THE FALKLAND ISLANDS MEMORIAL CHAPEL TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
THE FALKLAND ISLANDS MEMORIAL CHAPEL TRUST CONTENTS Page Trust*s' pcl IndepEfident examinerfs repw)rt Statement of financial aGtiwti95 Balance sheet Notes to the financiBI st8ternentS 10-17
THE FALKLAND ISLANDS MEMORIAL CHAPEL TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2023 The Trustees present their amual reFth and fillan0 Statnents for (he yeaT eThJed 31 March 2023. The financial staten7ents have been Pfepared in a(wdarKe the XCOLmting p)licEs set note 1 to the nancial statements and (x)mply wrth the charitys wvemiThJ duMent, the Charths Aca 2011 and "Accouming and RÈportsng by Chaiitie& Statement of RecommerKled prl¢e to charities prepari their accounts in accoidance 1th the Financaal ReportirwJ stsrKjI aFWicai4e in ts UK and Rewblic ol Iteland IFRS 1021" leffectNe 1 January 20t9}. Objectives and AGVitieS TFustees hdd the capital and income ol the Trust FL•id upon trust to apply the {rrne and all OT Slth parts of the capital for or tuwafds Ihe erection. pres¥0, prcthknn, ifflwovern&ts. maintenance arKI running for public benefit ol a chapel as a memorial chapel. Th& CF¥3Fd Vfds origrolly kn be dedicated to tf#memw of those members of Ihe ROY Navy and Mercttam Na vtho ¢JeO or 0rWISe took part in Falwands r of 1982 and wujtd be satert, tf possible, at PanUMe Cc4ege, PaJb0urne. Berkshire. It was to be useil for services in aCrdance with the riles of the Esta)tished Church. Pro7ded thal not less than once a ye8T there shall be hdd a norpthnorninab.onal memorial 5eTrice. Tr Trust a150. rf funds SD pemiit, provide an¢J maintain for ts publie benèfit art ¢xF¥bitw)n of fecuth, photO9whs obieds r¢Eo¥anl 19 tho FaIand$ War. th parbcular refere to the Royal Navy aKI Merchant Navy. at PaWoLrne College or eL$ewh. The Trustees m8y p8mtt thè memortal clkgpd to i u8ed by ParWJbW Col. At a mÈÈting of Ihe Trustees held on 27 March 1995. it was agreed Ihat otiects of the Trust 5houl¢J be n8nded so Ihat the Me1 chapel be lo the memory of 1 Servicernen. men of the MChant Navy, G(kOPted c4vilians and men of the Royal Fet Auxilwy died or otherwise to)k part in the Faklands lfitsr of 1982. In accordance wth the objects of the TrusL the buikfin9 erecled during 1998199 and offioally opened by Her Majesty the Queen in Marth 2QOO, frAlowng its Ded$13tion ty Ihe Biskw of Re19 the prewous NOVber. At the AGM in 20, Admiral Sir John Woochvafd G8E KCB rthd as Chawrnan ofthe Trustees and. rnng his signrficant contrfbutton, was subsequendy eleded as the Trust's first Pl0t Fdlcrmng Admiral Kbodward's death in 2013. Adtniral IhE Rghl Fk)noutabb Barrjn 5t of Stxthea GCB DSC PC became the Twst'5 seo)nd Presid8ni After 22 years as a Trustee, Major Aatsr Bruce of Cricffwth OBE DL and cuwrent Governor ol Edinburgh Casue, retiTe(t from the Board of Trustees in atrtumn 2022 His corrtribuiion to the TTUSI was unNersally appLAuded. In the spring of 2023, the Tnjstees wdcomed a new Trustee. a fomier cadet ol ParOLr[ Colge al now a sewving naval offi, Captain Mafk Hamli ton Roya Naby. Captsin Hamilton was (teemed wèll qualffied to join the Board, sirrE he has twice been deployed to the Fand 1slarKJs and his father served in HMS Coverty dLbring the Falk5ands In a(klthn. he Lwtns a trend tr younger Trustees to keep abrea51 of thing wortd and tr) c(ne& with Ihe gènerati to come. 11 was wtth greal s&Yness that the Trustees received the that PA4esty the Queen had died on 8 Septe[nr 2022. and a hoartfelt tribute was posted to her on the cha web 5itE." Her Majesty the Queen hJ OfficilY 0ed the CWI in 20fK) arKI had return severydl b.mes over kne years, the last ts'me being in 2017. AchlevemÈnts, Perfom)ance, Ev¢nts and Pubtic Benefit Aftei h¥0 difficu years in 2020 and 2021, when the parKlern restThJtons had disaltowed the Annual June servi to take place. a conydeiaiAe effDrt was iequiie¢J to finalise preparalions for a 4(Ith AnnNers8ry servi to be held on Sunday 12 June 2022. During 2021. chrrnan appn1j a fvryjraising cornmittee of Trustées tx)mprislng Sukey GaIner OBE. SaT8 kne5 CBE and Bn"gadiei Charfes Pa9e MBE. back up from the Seuetsry. The mrnmittee'5 aim was to raise an esbmat¢d £fjO.000 to fund the o¥ganisatiDll of the proptssed Servi¢e d Remembrydfice, to cater for up to 1.000 atterhdaes and to carry oul any nSSary pre-serytce Chapet repwrs and r&deCa.on. It was a lall order.. but the rA)mmitt SUIXeed in exr£eth the targe( mainly rlue to the initiative and knthedge of Sukey Cameron. who called for help Irc crporate communrty n th Falklands Islands and frotn UK Gomp8nies wtth FaIand lnts' trathrvJ uffined*yts. The F8lkk3nds Government s also fOrtmIng providErtsJ substantial support for lh8 comme[ation
THE FALKLAND ISLANDS MEMORIAL CHAPEL TRUST TRUSTEES. REPQRT (CONTINUED FOR THE YEAR ENDED 31 MARCH 2023 11 s therefore vAth much reJcq¢ing thal 8 COreIDn of almost 1.000 velEfdn5. faTnitse& and wpporters. with HRH the Duke of Kent as the RDyal Guest Df HoTvyJr, galhwEd in the Memori81 Chapel on SuTNlay 12 June 2022 for Ihe 40thAnniversary Serwce ol Remembran(z armj Thanksgivrng. Othef dith'ryJuLshÈd guèsts induded Mr James Puxley the Lord Lieuterwt of Berkshire. aeixjmpanied by h4$ vrife, Mr5 DebDrah Puxley. and Admiral Lor(S st GCB DSC PC, PSident of the Chapd Trust. Br8n¢he5 gf the rRilitary were repieserrted by senior officer5. induding Admiral Sir Philip je5 GCB DL. br the 1st Sea Lord. Chief Marshal Sir Andy Pulford GCB CBE, for ihè f.hief of thè Air 8tsff, Major General Alastair Br OBE DL. ID[ the Chief of the General Staff and Chepel Chairman Major Gener81 Jeff Mason MBE lor the C(Mnfflandant General Royal Thnarines. Vivien Foster OBE was psent to reprèsent tt7e Merchanl Navy Ass4xiatson. and MLA Rc¥eT Spink presented the FalTrJan Islands Government Legislth've Assembly. a¢¢oMpanI by UK reprewilab"v& Mr Rchard Hyslop. FOT the first lime evei. the ChapEI welcomed two Bishops." The Rjglt Reverend Hugh Nelson. Bishop to the Anxed FO5, who deliVed s fitbr¥g addre55. VRS Fxned by h15 Roman Catholic cDunlerparL The Righl Reverend Paul Mason Lunch after the SeThi, for enTh" congregatron. was held rn the largest marquee ever erected al Pangbourne. ané Individual Ships. 8nd Army reunion gf(xJps were kKated on reserved tables so that m&nb8rs farnilies could ffind ar¥J 1n them. It was unwersally appreryaled io t¢ alAe to meet in Such large numbers to renew acquaintan after such a long peri(xl of'kmbJ' In the past year. it was er1rj to hcw muth lentsC was paid to the events of 1982, thereby remernbering the tmgic losses suffe by so marty families and the lif&changing expÈriÈnces that so many ot vetersn5 encountered 40 yeals w In thè South AU8nttc. Al of th Ks against a ba(drop of a r8treatirg pandemic and a unhversal dere to retum to some ktnd of nCartY. Efficient managdment of the Chapd webslle has tsTked wefl tr) keèp Sup in dose t(X5ch wth changes and news during the afièmiath of the parKlemic one.of the investments male by the Trustees prior to the 40th Anniversary Service was to tribute towarts Ihe installation ol a peTfnarEnt camwa facility in the Chapel. so that all Chapd events COU be 'lwe streamed. for the Denefit af 115 Ix)ngegations and public. The website was therefore easily ab to provide a Ilnk to tt)e 12 June ServKe was vIj by over 1.000 peoe. The Trustees are plea%ed lo reFtrt that suprrt)rt for the Chaw has rDt diminished and that interest in its semce ts th& ganeral public, serving arKI Vetetan {sOnnel and Ihose fatNdves teaVe in 1982 GDntinues to crease. The Chapel 15 publicised through its annual neletter. throLwJh ts Wel'te {wMch is linked to veteran and family specffi£ assordatr'ons. web51tesl and by ¥Id of mouth. up jIn31 by popul¥ dernand from vethns of the F81k18rS War. the Trustees eontinue to allow a FaVKt8fK(s Cha1 SuppNters Irlosedl Group page on Facebjok which ts both popular and active and has 783 members As a resur(. rewests trom interested parties to bè added to substantial mailing list are received on a regukr basis via both FacetKJok and the cha website Iwww.falklands-chapel.org.ukl, and TncTgasirMJ numbèrs of vetwan reuThon groups attend. in nom)al year5. both the June Annual seN1 of Remembr and ThanksgiviryJ and their oyffl 'taAoi-tnade' 5er¥ice5 ond events. The Chapel Truss has reStCted 118 Funds vhu.ch 8re available lo assist tdmilies and v8terons wrth travel ot accornrnodation visiling tl Chapd and to hdp cover expendrtLwe asSW8led with the ¢xrtfea¢h WO of th6 charty". The FIMCT FalklaThJ Families Welfao Fund Th¢s fund was siarted with a gift of £24,360 from membefs ofthè Falkland Families Associth"on IFFA) 0.7 rts d¢)SUTe in 2015. SUbSeqntty, former rnemtEt8 of the FFAvoted to allow the Tyustees to distribute funds to al families bereaved in 1982, irtespecttve of whether they had Lvn metllbers of FFA. £20.880 remains in the fu1 at the year end The FIMCT wed Fund. In 2022r2023. this fvnd T1Ve a gr3nt ol £5,000 from the Falkland Islands Govemment towards tr,e costs of the 4LXh Anntversary June Semce Iwhith cost £64,479 In totall. At the end of the year, the Werfare Fund hei5 a credTrt of £8.816. Over the year5. several oiganisations Mave contributed to th*s fijnd, inclUng. more ntly. the Merchant Memorial ", 982 Trust Fd. Drir the year. the Twstees crThb"nued io promote tsir Information leafirt designed to encompass both these weWare fvjnds. lo include sepa¥ale applItIOn forrns for farnilie5 arKI veter8ns. The leaflet. whith was originally funded by ABF the Soldiers Charity, was iwjuled in the Annual n1 pack sent to everyong the mailing list in January. 11 can ajso be ck)knTrbaded from the Chapel website and is 8vailthe In the Chapel foyer for visting veterans and families.
THE FALKLAND ISLANDS MEMORIAL CHAPEL TRUST TRUSTEES. REPORT (CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Pastoral Care and Public Beneflt The Trustees confirm that they have refèrr io the Chanty Commissw's general guidance on public benefit when reviewing thè Trust's aims and objeclive5 and in plannip.g hrtufe activiiies The Trustees continuè to conssder how they can best @xlertd the Das12 care aspects of the Chapel beyond the newsletter (W,1Gh ts mailed annijalty to 2 0[ kmiles. veterans and interested parties) and the Annual Servicè. In particblar. wsrts to thè Cftspél b¥ veteran groups ave been encouraged. and a gUlar 1.'8ison has been maintained between the Trustees and the bereaved famil".es aThJ veleons. In adO1t¢ to keeping abreast of the needs of individuals. they have. in norm21 times. incrEasingly grow..ded a measure d assistance lo th0 who are unable 10 acc the Chapel eawly due to har(Iship or Inability to travel.. this has iEen acLieVed through th8 Welfaie and the Falkland Families re51t5cied fuTrd5. The arJdTtiDll of the permanènt G4tnèra for the recorcting ol 'IDJe streaming, in Ihe Chapel is very helpful for 11)ose eklerfy or disabled members of the Chapel ¢[HUnitY who are no longer able to attend Chapel Services TY ale remindeii of this facility ihrough the aral new51etter, the web 3ile, Facebook and personal emails lo ItM)se ident'he(I fr( twkn.ng frms The TThslees and their Adminiwaloi have 8150 worked c105ety wth the veteFans' organssalion Ihe South Atkntic Medal Asswialion ISAMA821. Addib"onally. liaison also r£curs from time to bme wth relaled OTganisatiDns suth as.. SSAFA.. The Falklands VÈt¥ans Asswiatio.n." C(m".tFt st5." Veterans AKI. an¢J The Not Foigoite Association. The Trustees contip.ue to see this area as one of growth in Ihe fvtuie and. evef mindful DI the increa&NJ nee(l. Contin to seek and to attract funding for the chanty's wèlfa Fund. The Chapel.specific Salegu8rding Policy, afjopted by the TrLStees in 2019, is diwayed on the Trust's website to ènsurè thal all volunteers. donors and benefic6aries have access to rt atKJ atp alert tc the Is5ue5 safeguarding and people protection. The Trustees are minclful to keep Ihis poliry un(Jer review on a Tegular basis. The web site also now Includes advice for wsitors to the ChaFEI WI need lo'd)erJt in. at a barrir on arrival. Financial Review and Reserves Policy The Trustees hava an LMgoing fundraiyNJ stratY vthich is reyiewed annually. N has proved successful to dale and has attracted 5uffioenl fund5 to cover the Chapel's annual out.'ay and rnaintena costs. It is also f pxible, so that whEn extra rrMal funding is required (.40th Anniversary) special measures are FJt In place to handle them. In addition to the measures weviou5ty de5cxibed. the ongory commemcwative project of Ihe in5tallalion ol plaques in the urcular Memorial GatdErTr to t[rk the 40th Ariniversary has prospered binGe ils laurTrch in the 2021 newsletter. Hawr.g been enthusiastically reiVed by assocHtions alld unn grp5 of Ihose who h8d gone lo the South Atlantic in 1982. the disaY now comprises 28 plaque5. To attract regular income. the TRJ5tees continue to promote a Friends Schemè for vétwans, fatnilies and Supporte who wculd fvkè to £)E inv(JverJ wrth the Chapel. bu! at a wJEly altsuistic levd. Friend5 contributing on a regular basis are largely responsible for coverlng the Ix)sl OF aru)ual repairs and refurbk8hmenl in the Chapel. and Trustees vabje their contributions very highly. Thère a optK)ns to 9ive annually. quarterfy OT monthly and to give more than the minimum l%thich many donor5 dol. 'FnerKls of the Chapel" have th15 year produGed an inrne ol £13,166 Each year, :.he TrL'slees aim to Increase the number of 'regukr dows. and to countef Ile inewtable rate of attriJon aMOrst elderly supporter5. At pteseTrr. they nL4nb2r 260. An ongoing sthme to Spon a seat in the Chapel has pioved hwhty SuC$ful sinGe il was introduc%d after the Millenftium. Of the potential Seats, wdl over Te¢ quarter5 01 that nufftber have been sponsored al £1.000 a seat lor at £800 + Gift Nd for Individuals). The xheme remains OFen ancl attracts onty Ihe occasion& S50r. The Ghapel adminislralion claims yeady GiftAJd from HMRC, and thKs year benefftled by £3.S67 ft(xn this income stream. Other ancillary aclivities. such as Chapel hire, servti colwions ancl sales of cards and books. provide further incorne The Charity's assets are a 75-yeaT lea5e15igned 18 NovemLtr 19961 for Chapel buijdiry and adjoining l&r)d, of which 48 years remain vtr)èxrQd. together with Ihe contents of14e Chapel and an investrnent porfolio which Is managed by professonal Inveiors under the directiofj of the Trustee5. The performance of investrnents )5 ularty revtowed by ihè Truste¢5. and the re-?ppnknent of Ihe investment athsers is c0nsded ar7nually.
THE FALKLAND ISLANDS MEMORIAL CHAPEL TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Vljhilst theré is currenuy a substar investrnent 12023". £1,123.644), Ihe Trustees are aware of the uncertainty that Ihe comiw year wil,, bnn9. due to an urtseiued worfd ar¥J consequent volatile stOGk markets_ The Trustees will therefore conts.nue ts augrnent the Investment fund, akvays seeking to en$7J thal this will be sufficient lo meet the paIrIng obligatioi under the Lease They have hcts¥È¥er sgtisfjed themsekffts that the Ttust's resèrves are currently SLrfhoeni io futvj the Trusl's afttXiP(Ited annual expenditu. The total level of tree reserves held by the Gharity a5 8t 31 Marth 2023 wwe £113,609 (2022." £111.6751. being unrestricle(l fvn45 less fixed assets. At théir Septèmbw 2022 meeting. Trustees agreed to instruct Invest klan8gerll8nt to transfer the dividend Incomè from FIMCT investmenl to their o¥renl ac£ount to hdp cover the extra expendtture aS50oated with the 40thAnniversary seIce. Structure. Governance and Management New Trustee5 are prop05e¢ for decb'on by e¥isting Ttuslee3. checked acCOrdar vrilh Charity CmISSiO guidelines. and appointed by Deed. TradItsallY they have been represenlalive ol each Dranch of the SEtviGes and veterans of the Falklands War. In arjditm to others who can bring necgssary skill> such as legal financi and ar¢httectural, to the Tr¢Jstee Board. As bmè passes and falklaThJs vetEran5 and bereaved famity membèrs become er. Trustees ale beginrring Eo l(N)k at sons arid daughters as FK)tenti81 SLrture Trustees. It be•me evident al tre 401h Annf¥ersary Service that younger atte were interested in accomp8nyn)g their elder5 and might be prepated io pid( up the txt(M ITr the fuiure. en new Truees are appointed, they are introd,JceJ tc the )rk of tt Ttusi ar%J wovided wth e tnforrngtion they rEed Eo fulfil ttpii iofes." th"s cludeS infOrmats" atNM the rde of Ihe Trustees and th2ir re5ponsibililie5 under the Charities Acts_ Day-to-day administraton of the Tru4 Is dewed to an adrt¥ni51ratDr un(kn suprs1o of the Trustees. DgcIsion-m8kir poweis are ietsined by the TrusEees anrl exeffjased at regular Trustees. meetings. These meebngs 8re usually held London ar Pangboume IftK thE AGMI. Trustees ha¥e Klentified the major risks which may affect the Charrty and have tsken reaSonae steps to timtigaie those ti5ks. Future Plans The TTUStees plan lo ¢onlinuo commemoration of the anniverwy of confitct by staging a live c [trIal annu Servicè of Remembrance and T1nksglng at Ihe Chapd and lo mainkin suffioent funds for th8 tnainlenance ol the building both ani5 into Ihe fijture. It is ant1pated that the W( wth v9t8rans and families of the confiicl 11 continue to grow. even 40th Anniversary is now passed. and separate nrts wll be kept and -t8nd Ihe annual service bLrt who not have the 8ugmenled for the Purpose Df aiding those who would like to - rneans to do so. To achieve these outcomes. rt is recognised th* rt wll be f)ecessary to continue 1¢ seek to r&se nds As indicated e2rtier. the Trustees maje spea.al provision this past year ID an and execute the 40th Annivet5ary senri. by conducting a fur¥jrisg campaign to re the extra cost.
THE FALKLAND ISLANDS MEMORIAL CHAPEL TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Reference and AdministraUvè Dqta•15 Piesident Admiral The Right Honourthe Baron KÈst of Spithead GCB DSC PC Trustees afft)r General MBE ICh8wmanl Command&rAndrew GordorFLermox Royal Na (Vice Chaimianj hr DawttAlbert Major Ge4èralAlasts]"r 8rl of CrK)natch OBE VR DL Iretsred . 15 Sep12fflber 20221 Sukey Ca[ll8 OBE Reverend David Cooper C2Ptain Mark HamAion Roya Navy {aw)oint8d 15 September 20221 Mrs Sa? Jones CBE DL Mi Robert Mason ReaiAdmiral Richard Melly BrigJEr Cb.arl&s Page PABE Ali Chjef Marshal Sir Andrew GCB CBE Caplain Marth Reed RD. Mr Ron Sidell R18ADip. Arch Admini5tFator Mrs ela P MBE Charity nunJer 1037942 Prlncipal Address PangtJ)4Jme Cdbege Pangboume Berkshife RG8 8LA Bankers Natk)nal Éstm1nSteT Bank Pl¢ Reading Market Place Branch 13 Kqarket PL Readi Berkshire RG12EG Solicitors Ashurst LLP Lcfft(lon Frurt and Wwl Ex(J)ange l Ouval sqUe London E1 6PW Investment ad¥lsors In¥èsfec INealth & In)festment 2 Gresham Street Lrt EC2V 7QP
THE FALKLAND ISLANDS MEMORIAL CHAPEL TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Independent examlner Ellacotts LLP CoLmWxle House 23 Bar Oxk*tt5hire OX16 9SA Enyand Trusta&s' rap)rt was approv by thè Board Tnj$Iees. Major General Jeff Mason MBE Ichainnanl
THE FALKLAND ISLANDS MEMORIAL CHAPEL TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE FALKLAND ISLANDS MEMORIAL CHAPEL TRUST I reFKxt to the charty on my Èxaminath4)n of Ihe finan081 ernentS of The FaIand Idands fv48morial Chapel Trusl (the charity) for the year ended 31 Mwch 2023 whith are set OLrt on pages 8 10 17. Respon$lbilities and basis of reF>Ort As Trustees of (he charity you are respDn&ble foi the preparatth of ihe finan(ial statements in aGcordance wth the requirements of the CharttEs Act 2Q11 Ilhe Act'i_ I report in respect ol my exarnination of thè tharity's finanoal statements carried4)ut under seclTDll 145 of th& Act In Gairying Olrt my exarnination I have ted all the applicable Direttjons given by the Ckenty Comtnission undèr secbon 14515)Ibl of theAct. Independent examinerfs ststement I have completed my examin8tKn. I confirm Ihat no rnatt have come to my atterItiC in crnnech"Dn with tho examination giving me cause to befieve tt in any.aterial resperl". accounting reCth vlere rM)t kept in respact of the charty as requiTed section 130 01 theA¢l,' or the fjnancial staternents do not accord wth Ihose reo)rds". or the financial statemants do no,. comply with the appit(able requirements concerniThJ the form and cunterrt ol nancial statements sel cLrt in the Chanhes IA(xounts and Reports) ReguLots"ons 2008 other Ihan any requirement that the accounts give a irue ar,d fay VEW wh&ch 15 not a matter ¢onsidered as part of an independent 8x8minatson. I have rn con¢ems and have come across no matlets in (nl)n the examItion to which attention should be drahvn in this report in (xderto ena& a Proper undgrstarKling of the finatxJ* statefftersts lo be re¥hed Charlott8 Toema05 Bsc FCA EllaaS LLP Countryw"de House 23 Imest Bar Banbury Oxfordshire OX18 gSA
THE FALKLAND ISLANDS MEMORIAL CHAPEL TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 Unr•strl¢tsd Re5tricte41 funds funds 2023 2023 Total Unréstricted Restricted funds funds 2022 2022 Total 2023 2022 Note$ Donatsons and gacies Investsnents 55,187 29.005 60.187 29.005 105.795 26,476 110,825 26.4K Totsl income 84,192 5.(X)D 89.192 f32,271 137.301 Raising funds 11.391 11.391 12.116 12,116 Ch3ritstAe actiwties 117.263 8.932 126.195 42.741 13,165 55.906 Total expenditure 128.654 8.932 137.586 54.857 13.165 68.022 Net gainslllosses) on investments {97,93BI 197.938) 48.319 48.319 Net movement In funds 1142,41XSI 13,932} 1146.332) 125,733 18,135) 117,598 Fund balances 311 April 2Q22 1.379.618 59.172 1.438,790 1,253.885 67.307 1.321,192 Fund balances at 31 rch 2023 1.237,218 55.240 1.292.458 1.379.618 59.172 1.438,790 The statemeni irffinanclal activtbes tncludes 1 gain5 arnl tosses recognised in the year. l income and expendrture derive frtyn eonlinLHny ac.be5.
THE FALKLAND ISLANDS MEMORIAL CHAPEL TRUST BALANCE SHEET AS AT 31 MARCH 2023 2023 2021 Flxed assets nvestments 12 1,123.644 1,257,943 Current assets Debtors Cash at bk 8nd in har 13 1,475 174.591 1,555 173.%0 176.066 175,1151- CYedltoYs: arnounts falllng due wilhin on• y•ar 14 (7.2521 (4.2681 Net tsjrrent assets 168.814 170,847 Total assets less current liabllities 1.292,458 1.438.790 Income funds Reslrieted frjnds UnrgstsiGted furKIs 15 55.240 1.237218 59,172 1.379.618 1.292.458 1,438.790 The finanaal statements re wroved by Ihe Tnjstees on .. .. . . Maior General Jeff MasOn•thBE IChaim)anl n-LenriDX Royal Nawy IV chanI Trust••
THE FALKLAND ISLANDS MEMORIAL CHAPEL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accountlng pollcies Charity information The FaIand 151ands Memottal cha Ttusl is a tharity r4istered with the Charity CommissK)n (Charity No. 10379421. Thè athlrESS is Pangbourr College. PatxWme. B&shire. RGB 8L 1.1 A¢¢ounting convention The f nanuaj statelnents h8ve been prepared in accLKdance ¥•Ath the Chantip& kt 2011 and FA¢c))untsng and RepOng by Chafities. Ststemènt of Reccmftrnended Practre apr&"cAb ID ran$ preparing their accounts in aCcDrd3e wth thE Financial Rewrb"r&J Staiidatd apklKable in the UK arKJ RepubliG of Ireland IFRS 102). {as arnended for accouming porsods ¢ommencirwJ from 1 Ja¥llry 20191. The charity is a Public Benefil Entity as d&fin8d by FRS 102. Th8 financ4al stalemertts are prepared in Ihe fvnuion4 (Jffrency of the Chty. letsry amoun15 in these fin1 statemenls are [1 to the neest £ 1.2 Goitjg concern At the time of apprwng the fmancial statements. Trustees Iwe a reascwwble exFtatIOn that the charity has auate oUrceS to continue in opwat3rl exislence for the fr¥eseeable future. Thus the Twslees continue to adcyt gOg ts)rKem basi5 of accA)urts"rwJ in wep8ruTg the statements. 1.3 Charitable fijnds Unresl¢irlgd furmls 318 avalabla fDf us8 at the thscr81ic•) of thè Tnjslees in furthèranc8 of thr charTtable obs'e(knes. Restricted funds are sJbject to specifjc ccn3rt40ns by th)rus as to they fflay te L. The purposes and uses ollh8 r85trided fund5 are set out I lh8 notes to the finanoal statements. 1A Incoming $ourCeS Donatlons Donations are itxluded in thè acLounls at the date recervable. Legacios Legaues are accounted (Dr on a receivable basis. Investment Income Inve5trnent income ts ognIsed kn receivab. 1.5 Resources expÈnd ExpEndrtUfe. which 15 charge¢ ijn an aGUUai5 basis. is all¢xzted bet1 the c051 of Tal funds and expenditure on charitable oGtivitE5. ExpeIlture on chartse activitl'es indLDJes costs irf runnlng the rnemotial Cha1. Govemance cos are tjé irurfèd irt ctynpjiance Vith c¢x*strhJknwl aTMJ Statutory requirernents. 1.6 FlxÈd assot inve3lm¢nts Fixed asset investments a inthaEy measured at transaLton induding transaclion ¢0sls, and are subsequenffy measured at fair vakne al earh rwb"n9 date. Changes in kir vJLSe are recognised ill net incomellexpen(Iturèl hr the ye8r. 1.7 Cash and cash equivalents Cash and cash equivalent5 include (xh in h8ThJ. depx8rts held at cal with banks and ts short-lemi liquNJ investment5 Wth otiginal rn8tuiilS of wnontlks OT less. 10-
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THE FALKLAND ISLANDS MEMORIAL CHAPEL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Investments Unrestricted UnrestftGted funds funds 2023 2022 Bond intér&st Dividend irMX)me Inlere51 recetvable 8.729 19,937 6,45 19.624 2S.O05 26,476 Ralslng funds Urhrestrirted Unrestricted fuftd5 funds 2023 2022 Investment management 11,391 12,116 11.391 12,116 12-
THE FALKLAND ISLANDS MEMORIAL CHAPEL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Charitable activitie5 Running the Running the m•morÉal tnemorbal hapel chapèl 2023 2022 Trust secretary costs Annual semce cosls Newsleiter o)sts maintenan and Frfègsional costs Memorial garden (x15t5 40th anllive15ary servu costs Hymn bwks 28,714 8,932 4,716 4,216 4,680 56,178 10,250 28.1D3 6.883 4,791 4,051 3,120 117,686 46,926 Share of supwt cosis Isee ncrte 61 Share ol governance costs n¢Ae 6) 5,894 2.615 6,467 2,511 126.195 55,9( Analysis by fund Unfestrictod funds Restricted funrts 117,263 6.932 42,741 13,165 126.195 55.9L Support costs Support GovÈmance costs cos15 2023 Support Governance costs costs 2022 Chapd Insuran Sundry Cost5 Piirtting & st*itinary VVBbsrte Gosls 1.673 1.673 3.897 1.634 720 216 3,897 1,634 720 216 4.221 4.221 Independent Examingrs Fees Tiuste¢s' MeelÈrus Trustees. Liability Insurance 1.422 745 1.422 745 1,578 1,578 427 427 5.894 2.615 6,467 2,511 8,978 Anatysed betreN Chantable tlYrtIeS 5.894 2.615 6.467 2,511 8,978 13
THE FALKLAND ISLANDS MEMORIAL CHAPEL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 TrnstÈes Trustee< indemryty insuTarKe amounling to £448 tKas pa dunThJ the year12022- £427}. The total amour¥t of Trustee eXne5 TEimtMJrsed thring the year was £nl Q022- £271 other than the above. none of the Twstees lor arty pOrS urted wrth them) recsved any remunerab.on or benefits ftom the Gharity dLW9 the year. Employèos The averag& monthly nLber ol employees 4YLwing the yeai VKS." 2023 Numbèr 2022 Number Total There were no eMaYe5 whase ar1 rernunefatn was mwe than £60,000. NEt 93insHt055•51 on Investsi)ents Unre¥trlcted Unfestrlcted funds funds 2023 2022 Revaluatiw of investsrenls 197.9381 48.319 10 Taxatlon Tre cttanty Is ex2mpt Irom tsx irxome arHJ gar falli Vnthin s&on 505 01 TaxesAd 1988 or sedon 252 of tha Taxab"oTh)f chargeab GainsAct 1992 to exterrt that these are ap¥Ad to its charitsble obpth. 11 Tangible fixed assets Pangboume Ce Ltd has granted to Ihe Trustees a lease of the laTrJ on the Chapel has be built which èxpires in 2071. No rent payable. but Twstees a oN"geO to keep the Chapel in good repair aThY can only use the Chapd lor the PWFX)ses of the charty. The book value ofthe Chapd been My written ¢knvn arKJ is eanied at £n. f4-
THE FALKLAND ISLANDS MEMORIAL CHAPEL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 12 Flxed asset iavestments Listèd investmonts Cost or valuatio Al 1 April 2022 Additions Valuation chang85 Increaselldecse) in cash dewsit COUnt Disp0581s 1.267.943 408,617 197,9381 198,2541 135S,7241 At 31 Marth 2023 1.123,644 Carying amount At 31 March 2023 1.123,644 At 31 MaTch 2022 1,267.943 2023 2022 Inve%tm2nls at fair value ccmpnse: Equib"Ès Fixed interest cUrths Cash held within the in¥eslmenl portr00 Property Alternale in¥estmerrts 693,638 173,165 12,232 67,022 177.587 825,230 131,952 87,841 79,f70 143,750 1,123,644 1.267,943 13 Debto 2023 2022 AmDunts falling due within one year. Other debtors Prepayments and acc inc¢)me 35 1,520 1,475 1.475 1,555 15-
THE FALKLAND ISLANDS MEMORIAL CHAPEL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 14 Credltor5". amounts falllng duo within one year 2023 2022 Other creditors Accrua15 defErd i)Kome 4.795 2,457 1.765 2.503 7.252 4.268 15 R8stricted fund5 The income fund5 of the charty include $th"e fuNJs 1x)Mprl[vJ the fdkFM" unexpended balan5 of nations and grts hdd ori tr¥Jsl foy specffic w[Se5." Movement In funds lfjct>mit¥J PE5rJUe5 BaarbBe al gxpended 1 Awil 2022 ement in fvIS Balancè 81 t Aprfl 2e21 BalanE8at expended 31 MaTch 2023 resour Wafare- Veterans wf2r- Farnilies (Falkland Farnilies Association FFAI Window Repair Fund 23,869 5.000 {10.720 18.149 (8,9321 14.217 21,784 1934) 20,880 20.880 21,654 11.5111 20,143 20.143 67.307 5.030 113.1651 59.172 s.000 {8,9321 55.240 Welfare- Veterans This fund Provides fittancral support to veterans of 1982 prilarity to help thern and their familie5 to access Ihe Chapel. Welfare- Families IFalkland Families Association FFAI This fvnd provides Bimi18T a¢¢ess sUprt io fam1 tereaved as a result of the 1982 Fkand5 r. Window Repair Fund This fund exists to ensure the general upkeep ofthe d)apd rlOw$ an(5 provide mcyues s)uld any repair or replacemenl 15 [Eed. 16-
THE FALKLAND ISLANDS MEMORIAL CHAPEL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 16 Analysis of net assets bettveen funds UtrICted Restricted funds funds 2023 2023 Total UnTestricteLt RestrictÈd nt1s funds 2022 2022 Total 2023 2022 Fund balances at 31 March 2023 are represep.ted by.. Invesimenls Current assetslllHbilities} 1.123.644 113.574 1.123.644 168.814 1.267.943 111.675 1.287,943 170,147 55.240 59.172 1.237.218 55.240 1,292.458 1.379.618 59.172 1.438.790 17 Related paty transattions There were rn disd05able related pty Iransackns durry Ihe yeaT12022- rwEI. 17-