| Page | |||
|---|---|---|---|
| Reference and administrative | details ofthe Charity, its Trustees and advisers | ||
| Trustees' report |
2-6 | ||
| Independent examiner's report |
|||
| Statement offinancial | activities | ||
| Balance sheet | |||
| Notes to the financial | statements | 10-22 |
| REFERENCE | AND | ADMINISTRATIVE | DETAILS OF THE CHARITY, ITSTRUSTEES AND ADVISERS |
|---|---|---|---|
| for | the year ended 5April 2021 |
| Trustees | Brigadier H A Watson MBE |
|
|---|---|---|
| Captain C R Renwick | ||
| Major (Retd) M Tazey MBE | ||
| Major W G Peto | ||
| Lieutenant Colonel T R M Robinson |
||
| Major H P Ogden | ||
| Captain (Retd) C N Bird | ||
| C FS May Esq | ||
| N A Milne Esq. | ||
| Captain E T Legard | ||
| WO1 (RSM) L Iddon | ||
| Captain J R Barkes | ||
| Charity registered | ||
| number | 1041982 | |
| Principal office | Home Headquarters | |
| Fenharn Barracks |
||
| NE2 4NP | ||
| Accountants | Ryecroft Glenton | |
| Chartered Accountants |
||
| 32 Portland Terrace | ||
| Newcastle upon Tyne |
||
| NE2 1QP | ||
| Bankers | Lloyds TSB | |
| Cox's &King's | ||
| PO Box1190 | ||
| Pall Mail | ||
| London | ||
| SW1Y5NA | ||
| Solicitors | Gibson &Co, | |
| 77 - 87West Road | ||
| Newcastle upon Tyne |
||
| NE15 6PR | ||
| Investment | Managers | Brewin Dolphin |
| Time Central | ||
| Galtowgate | ||
| Newcastle upon Tyne |
||
| NE1 4SR |
| Restricted | Unrestricted | Total | To/a/ | |||
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| Note | 2021 f |
2021 f |
2021f | 2020 | ||
| Income from: | ||||||
| Donations and legacies |
9,641 | 126,078 | 135,719 | 105,027 | ||
| Charitable activities: |
||||||
| Refund ofwelfare grants | 500 | 500 | 12,625 | |||
| Sale of reunion function |
tickets | 694 | 694 | 5,958 | ||
| Receipts from sale ofstock | 968 | 968 | 2,313 | |||
| Uniform sales 5grants refunded | 750 | 750 | 1,500 | |||
| Sales of"Regimental Journal" |
75 | 75 | 180 | |||
| Investments | 28,487 | 23,494 | 51,9&1 | 65,887 | ||
| Total income | 38,628 | 152,059 | 190,687 | 193,490 | ||
| Expenditure on: |
||||||
| investment management |
fees | 7,371 | 7,016 | '}4,387 | 14,840 | |
| Other charitable activities |
54,018 | 159,086 | 213,104 | 253,069 | ||
| Total expenditure | 61,389 | 166,102 | 227,491 | 267,909 | ||
| Net expenditure before net |
||||||
| gains/(losses) on investments |
(22,761) | (14,043) | (36,804) | (74,4'/9) | ||
| Net gains/(losses) on investments |
275,991 | 260,741 | 536,732 | (341,320) | ||
| Net income/(expenditure) | 253,230 | 246,698 | 499,928 | (415,739) | ||
| Transfers between funds |
22,048 | (22,048) | ||||
| Net movement in funds |
275,278 | 224,650 | 499,928 | (415,739) | ||
| Reconciliation offunds: |
||||||
| Total funds brought forward |
972,269 | 1,006,035 | 1,978,304 | 2,394,043 | ||
| Net movement in funds |
275,278 | 224,650 | 499,928 | (415,739) | ||
| Total funds carried forward | 1,247,547 | 1,230,685 | 2,478,232 | 1,978,304 |
| 2021 | 2020 | |||||||
|---|---|---|---|---|---|---|---|---|
| Fixed assets | ||||||||
| Tangible assets (note 11) | 4 | 6 | ||||||
| Investments (note |
12) | 2,268,933 | 1,837,299 | |||||
| 2,268,937 | 1,837,305 | |||||||
| Current assets | ||||||||
| Stocks (note 13) | 23,472 | 23,981 | ||||||
| Debtors (note 14) | 7,566 | 2,691 | ||||||
| Cash at bank and | in hand | 187,573 | 131,500 | |||||
| 218,6'I1 | 158,172 | |||||||
| Creditors: amounts | falling | due within one | year (note | |||||
| 15) | (9,316) | (17,173) | ||||||
| Net current assets | 209,295 | 140,999 | ||||||
| Total assets less | current | liabilities | 2,478,232 | 1,978,304 | ||||
| Net assets | 2,478,232 | 1,978,304 | ||||||
| Total net assets | 2,478,232 | 1,978,304 | ||||||
| Charity funds | ||||||||
| Restricted funds (note 17) | 1,247,547 | 972,269 | ||||||
| Unrestricted funds |
(note 17) | 1,230,685 | 1,006,035 | |||||
| Total funds | 2,478,232 | 1,978,304 | ||||||
| The financial statements | were approved | and authorised | for issue by the | Trustees and | signed on their | behalf by: | ||
| Captain C R Renwick |
CFg | ay& |
| Restricted | Unrestricted | Total |
|---|---|---|
| funds | funds | funds |
| 2021 | 2021 | 2021 |
| 9,641 | 126,078 | 135,719 |
| 9,641 | 126,078 | 135,719 |
| Restricted | Unrestricted | Totai |
| funds | funds | funds |
| 2020 | 2020 | 2020 |
| 1,081 | 83,446 | 84,527 |
| 20,500 | 20,500 | |
| 1,081 | 103946 | 105027 |
| Restricted | Unrestricted | Totai | |||
|---|---|---|---|---|---|
| funds | funds | funds | |||
| 2021 | 2021 | 2021 | |||
| E | E | ||||
| Charity | incoming | resources | 500 | 2,487 | 2,987 |
| Restricted | Unrestricted | Tote/ | |||
| funds | funds | funds | |||
| 2020 | 2020 | 2020 | |||
| Charity | incoming | resources | 1,165 | 21,411 | 22,576 |
| Restricted | Unrestricted | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2021 | 2021 | 2021 | ||
| Income from investments | within the UK | 21,414 | 18,431 | 39,845 |
| Bank and Brewin Dolphin | deposit account interest received | 8 | 8 | 16 |
| Income from investments | outside the UK | 7,065 | 5,055 | 12,120 |
| Total 2021 | 28,487 | 23,494 | 51,981 | |
| Restricted | Unrestricted | Totai | ||
| funds | funds | funds | ||
| 2020 | 2020 | 2020 | ||
| Income from investments | within the UK | 28,188 | 24,982 | 53,170 |
| Bank and Brewin Dolphin | deposit account interest received | 57 | 86 | 143 |
| Income from investments | outside the UK | 7,170 | 5,404 | 12,574 |
| 35,415 | 30,472 | 65,887 |
| Restricted | Unrestricted | Total | |||
|---|---|---|---|---|---|
| funds | funds | funds | |||
| 2021 | 2021 | 2021 | |||
| F | K | ||||
| investment | management | fees | 7,371 | 7,016 | 14,387 |
| Restricted | Unrestricted | Total | |||
| funds | funds | funds | |||
| 2020 | 2020 | 2020 | |||
| Investment | management | fees | 7,577 | 7,263 | 14,840 |
| Restricted | Unrestricted | Total | |||
|---|---|---|---|---|---|
| funds | funds | funds | |||
| 2021 E |
2021 E |
2021f | |||
| Other | charitable | activities | 54,018 | 159,086 | 213,104 |
| Restricted | Unrestricted | Total | |||
| funds | funds | funds | |||
| 2020 | 2020 | 2020 | |||
| Other | charitable | activities | 64,386 | 188,683 | 253,069 |
| Activities | ||||
|---|---|---|---|---|
| undertaken | Support | Total | ||
| directly | costs | funds | ||
| 2021 | 2021 | 2021 | ||
| Direct | costs | 199,781 | 13,323 | 213,104 |
| Activities | ||||
| undertaken | Support | Total | ||
| directly | costs | funds | ||
| 2020 | 2020 | 2020 | ||
| Direct | costs | 238,808 | 14,261 | 253,069 |
| Total | ||||||
|---|---|---|---|---|---|---|
| Activities | funds | |||||
| 2021 | 2021 | |||||
| Depreciation | 2 | 2 | ||||
| Heritage Fund donations |
107,939 | 107,939 | ||||
| Welfare grants and Old Comrades | donations | 51,143 | 51,143 | |||
| Donations | 4,365 | 4,365 | ||||
| Funeral and memorial expenditure |
3,451 | 3,451 | ||||
| Charitable Trust Fund expenditure |
27,668 | 27,668 | ||||
| Reunion functions expenditure |
683 | 583 | ||||
| Consultancy fees |
1,313 | 1 313 | ||||
| Home Headquarters and risk management insurances Purchase value ofshop stocks sold (including LD History free issue) |
2,460 757 |
2,460 757 |
||||
| 199,781 | 199,781 | |||||
| Total | ||||||
| Activities | funds | |||||
| 2020 | 2020f | |||||
| Depreciation | 2 | 2 | ||||
| Welfare grants and Old Comrades | donations | 69,965 | 69,965 | |||
| Donations | 843 | 843 | ||||
| Funeral and memorial expenditure |
3,371 | 3,37'1 | ||||
| Charitable Trust Fund expenditure |
138,424 | 138,424 | ||||
| Printing costs of "Regimental | Journal" | 8,880 | 8,880 | |||
| Reunion functions expenditure |
6,349 | 6,349 | ||||
| Consultancy fees | 1,509 | 1,509 | ||||
| Home Headquarters and risk management insurances Purchase value ofshop stocks sold (including LD History free issue) |
2,462 7,003 |
2,462 7,003 |
||||
| 238,808 | 238,808 |
| 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|
| K | |||||||
| Fees payable independent |
to the Charity's examination of |
independent the Charity's |
examiner for the preparation annual accounts |
and | 3,800 | 3,800 |
| Ilaterial inves | tments wh |
ch represent more than 5%ofthe |
portfolio valuation comprise |
of: | |
|---|---|---|---|---|---|
| 2020f | |||||
| Vanguard Investments UK |
Ltd US equity units | 148,191 | 99,423 | ||
| Threadneedle | Investment | UK Equity inc. units | 117,030 | ||
| Ninety One Fund Managers | UK Aipha | 116,057 | |||
| Fidelity UClTS | ICA US units | 113,925 | |||
| Threadneedle | investment | UK Equity inc. units | 92,992 | ||
| 495,203 | 192,415 |
| 2021f | 2020 |
|---|---|
| 23,472 | 23,981 |
| 2021 | 2020 | ||
|---|---|---|---|
| Due within one year | |||
| Other debtors | 5,779 | 1,306 | |
| Prepayments | and accrued income | 1,787 | 1,385 |
| 7,566 | 2,691 |
| 2021 | 2020 | ||
|---|---|---|---|
| Other creditors | 1,766 | 1,343 | |
| Accruals and deferred | income | 7,550 | 15,830 |
| 9,316 | 17,173 |
| 2021 | 2020 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Financial | assets | ||||||||||
| Financial | assets | measured | at | fair | value | through | income | and | expenditure | 2,268,933 | 1,837,299 |
| Balance at 6 April 2020 |
Income | Expenditure | Transfers in/out |
Gains/ (Losses) |
Balance at 5 April 2021 |
|
|---|---|---|---|---|---|---|
| E | ||||||
| Unrestricted | ||||||
| funds | ||||||
| General Fund |
1,006,035 | 152,059 | (166,102) | (22,048) | 260,741 | 1,230,685 |
| Restricted | ||||||
| funds | ||||||
| Colonel's Appeal | ||||||
| Fund | 972,269 | 38,628 | (61,389) | 22,048 | 275,991 | 1,247,547 |
| Total offunds | 1,978,304 | 190,687 | (227,491) | 536,732 | 2,478,232 | |
| Statement offunds - prior year | ||||||
| Balance at 6April 2019 |
Income | Expenditure | Transfers in/out |
Gaina' (Losses) |
Balance at 5April 2020 |
|
| Unrestricted | ||||||
| funds | ||||||
| General Fund |
1,138,764 | 155,829 | (195,946) | 66,945 | (159,557) | 1,006,035 |
| Restricted | ||||||
| funds | ||||||
| Colonel's Appeal | ||||||
| Fund | 1,255,279 | 37,661 | (71,963) | (66,945) | (181,763) | 972,269 |
| Total offunds | 2.394043 | 37,661 | (267,909) | (341,320) | 1,978,304 |
| Summary offun | ds - current year | |||||
|---|---|---|---|---|---|---|
| Balance at 6 April 2020 |
Income | Expenditure | Transfers in/out |
Gains/ (Losses) f |
Balance at 5 April2021 |
|
| General funds Restricted funds |
1,006,035 972,269 |
152,059 38,628 |
(166,102) (61,389) |
(22,048) 22,048 |
260,741 275,991 |
1,230,685 1,247,547 |
| 1,978,304 | 190,687 | (227,491) | 536,732 | 2,478,232 |
| Summary offun |
ds -prior year | |||||
|---|---|---|---|---|---|---|
| Balance at 6April 2019 |
Income | Expenditure | Transfers in/out |
Gains (Losses) |
Balance at 5April 2020 |
|
| General funds | 1„138,764 | 155,829 | (195,946) | 66,945 | (159,557) | 1,006,035 |
| Restricted funds | 1,255,279 | 37,661 | (71,963) | (66,945) | (181,763) | 972,269 |
| 2,394,043 | 193,490 | (267,909) | (341,320) | 1,978,304 |
| Analysis ofnet assets between funds -curr | ent year | ||
|---|---|---|---|
| Restricted | Unrestricted | Total | |
| funds | funds | funds | |
| 2021 | 2021 | 2021 | |
| Tangible fixed assets | 4 | 4 | |
| Fixed asset investments | 1,165,656 | 1,103,277 | 2,268,933 |
| Current assets | 83,841 | 'l34,770 | 218,611 |
| Creditors due within one year | (1,950) | (7,366) | (9,316) |
| Total | 1.247,547 | 1,230,665 | 2,478,232 |
| Restricted | Unrestricted | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2020 | 2020 | 2020 | |
| Tangible fixed assets Fixed asset investments Current assets Creditors due within one year |
928,720 45,143 (1,594) |
6 908,579 113,029 (15,579) |
6 1,837,299 158,172 (17,173) |
| Total | 972,269 | 1,006,035 | 1,978,304 |