2020-12-31-accounts - The Grenadier Guards Charity

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Charity Commission	Charity Commission	The Grenadier Guards	Charity was	Charity was	Charity was	Charity was	Charity was	formed	formed	formed	formed	by a Charity	Commission	Commission	Commission
		Schetne dated 17 September				2015		which			merged the Grenadier			Guards
		Regimental mtd Battalion		Charity,				The		Grenadier Guards			2"	Battalion
		Suspended Animation	Charity,				The		Grenadier Guards				3'"	Battalion
		Suspended Animation	Charity			and	Tbc		Grenadier Guards Rcghuental						and
		Battalion Relief Charity.		The		Srheme				took		effect on I	Januaiy		2016
		following which the assets		and		liabilities				of	The Regimental		and	Battalion
		Charitics of tbe Grenadier				Guards			Common Investment				Fund		were
		transferred to the new charity			and that			charity			closed,
Kx-officio	Trustee	Thc Regimental Lieutenant		Colonel			ofthe Grenadier Guards
		(Major General C RV	Walker		DSO)
Co-opted Trustees		Brigadier DJ H Madden
		Captain C A G Bemsett
		Lieutenant General Sir	George			Norton		I&.CVO				CBE
		The Rt Hon The Earl ofDerby,				DL
Election		,Replacement Co-opted	Trustees			arc	appointed					by the Trustees
Regimental	Adjutant	Major JPW Gatehouse
Treasurer		Major A J Green
Address		Wellington Barracks
		Birdcage Walk
		London SWIE6HQ
Registered	Charity Number	1062257
Bankers		Lloyds TSBBank Plc			Auditors							SaA'ery Champncss		LLP
		Cox's &King' s P0 Box 1000										71 Queen Victoria Street London EC4V 4BE
		A»Clover
		BXI I ILT
Solicitors		Wrigleys Solicitors LLP			Investment							Cazenove Capital
		19Cookridge Street			Managers							Management Limited
		Leeds LS2 3AG										12Moorgate
												London EC2R	6DA
Propedy Managers		The Fledley Foundation										P J Smith Associates
		I College Hill										The Old Place,	Lockpath
		London EC4R 2RA										Dorney, Windsor SL4 6QQ

						2020	2019
				Notes
				Unrestricted	Restricted	Total	Total
				Funds	Funds
Income from:
Donations and	legacies			47,236	67,796	115,032	iI43,946
Trading activities				15,049	29,037	44,086	24,269
Investmenls				179,545	65,085	244,630	336,269
Total income				241,830	161,918	403,748	504,484
Expenditure on:
Raising funds				74,535	19,616	94,151	128,419
Charitable activities				298,607	261,768	560,375	578,733
Total resources	expended			373,142	281,384	654,526	707,152
)6Iet (expenditure)				(131,312)	(119,466)	(250,778)	(202,668)
Other recognised		gains	and losses
Realised and unrealised			gains/	13
(losses):
on 2nvestnlents				360,685	239,057	599,742	'!,024,200
on pfopert3'				(359,958)	(75,042)	(435,000)
Net (expenditure)/income				(130,585)	44,549	(86,036)	821,532
Trausfers between		funds		14 ~366,263	368,293
Net movement	in	funds		(498,878)	412,842	(86,036)	821,532
Funds balance	brought		forward	7,135,227	3,444,023	]0,579,250	9,757,718
Funds balance	carried		forward	6,636,349	3,856,865	10,493,214	10,579,250

					2020	2019
Net cash (used)/provided	by operating	activities (see
note below)					(515,670)	(540,023)
Casli flows from investing	activities
Investment income					244,630	336,269
Pui'rhsse oftangible fixed assets Proceeds fiom disposals ol'fixed assets Purchase ofinvestments Proceeds on disposal ofinvcstmcnt					(2,950) (2,067,016) 2,368,9G3	(11,423) 1,750 (1,340,344) 1,579,717
Net cash provided/(used)	by investing	activities			543,627	565,969
Change in cash and cash	equivalents	in the	year		27,957	25,946
Cash and cash equivalents	at I January				55,023	29,077
Cash and cash equivalents	at31Itecember				82,980	55,023
NOTK					2020	2019
Reconciliation ofnet (expenditure)/income			to net
cash flow from operating	activities
Net (expenditure)/income	for the reporting		period	as
per the statement offlnaucial activities					(86,036)	821,532
Adjustmeuts for
Depreciation charges					3,072	2,618
Realised/unrealised (gains)/losses on investments					(599,742)	(1,024,200)
Unrealised losses on propeity					435,000
Investment income					(244,630)	(336,2G9)
Decrease in stock					60	524
Decrease/(increase) m debtors					47,058	(58,715)
(Decrease)/increase in creditors					(70,452)	54,487
Net cash provided by operating activities					515,670	(540,023)
Analysis ofcash and cash	equivalents
				At I January	Movement	At 31
				2020	in thc year	December 2020
				g
Cash at bank and in hand				55,023	27,957	82,980

							2020	2019
				Unrestricterl		Restricted	Total	Total
								8
One Day's Pay Scheme						46,150	46,150	45,081
Donations —Colonel's		Fund				21,646	21,646	50,972
Donations -other					47,236		47,236	47,893
					47,236	67,796	115,032	143,946
Trading activities
							2020	2019
				Unrestricted		Restricted	Total	Total
Band Fund income Colonel's l.und fundraising					179	29,037	179 29,037	1,804 12,700
Sale ofregimental	goods				14,870		14,870	9,765
					15,049	29,037	44,086	24,269
nvestment income
							2020	2019
				Unrestricted		Restricted	Total	Total
Dividends					49,896	25,686	75,582	101,074
Dividends —Colonel's		Fund				39,399	39,399	52,105
Rental income					129,635		129,635	182,189
Deposit interest					14		14	901
					179,545	65,085	244,630	336,269
							2020	2019
							f.
Rents raceivab!e:
10 High Street, Tenterden,			Kent				56,554	68,027
7 and 15 Iligh Street, Wi			nborne, Dorset				37,167	75,060
Land at Middk Oreen,		Langlcy, Slough,			Berkshire		2,650	2,650
Sherbonte							31,264	33,685
Other income —wayleave			rent/grazing	land rent			2,000	2,167
							129,635	182,189

5.	Raising funds	Raising funds
								2020	2019
						Unrestricted	Restricted	Total	Total
	Colonel's	f'und fundraising
	expenses						3,960	3,960	5,620
	Cost oi'regimental		goods		sold	23,133		23,!33	19,736
	Band Fund	expenditure				1,610		1,610	3,017
	investment	management			fees	29,435	15,696	45,091	45,023
	Rental expenses					20,357		20,357	55,023
						74,535	19,616	94,151	128,419
6.	Charitable	activities
								2020	2019
						IInrestricted	Restricted	Total	Total
						8
	Grants and	donations		(note 7)		118,731	203,543	322,274	350,481
	Support costs (note		8)			179,876	58,225	238,101	228,252
						298,607	261,768	560,375	578,733

Grants and donatious
		2020	2020	2019	2019
			Total		Total
Unrestricted specific:
Adventure and individual	training:
Battalion/Company		100		800
ONcers' welfare: Battalion messes		10,000		10,000
Sports, recreation and other
activities: Battalion/Company		47,000		41,900
Welfare grants —serving soldiers:
Education		300		600
Charitable donations		240		3,740
Recruiting and publicity		3,781		3,799
			61,421		60,839
Unrestricted other grants;
Queen's Guard subsidy		1,610		1,953
First Guards Club		'2,500
Sergeants' (Past and Present) Club		1,750
ABFThe Soldiers' Clarity		11,500		8,000
Lieutentult Colonel's Contingency
Fund		11,450
Penn k Fagan awards				1,361
Special Events				27,216
Other grants		28,500		20,079
			57,310		58,609
Total unrestricted			118,731		119,448
Restricted:
Welfare grant to Association		50,004		50,004
Colonel's I'und (includhlg	casualty	153,539		181,029
support)
Total restricted			203,543		231,033
			322,274		350,48'1

Support costs
			2020	2020	2019	2019
				Total		Total
Administration:
Printin&i, postage and		stationery	2,756		4,375
Staffcosts			106,048		121)916
Accounting support, tax and other			26,964		19,479
advice
GDPR project			3,561		1,528
MIsce Ilaneous			14,242		9,933
Audit and accountancy			18,990		19,480
Legal and professional		fees	165		1,817
				172,726		178,528
Regimental property:
Repairs, maintenance		etc	20,359		15,270
Insulance			4,350		4, 198
Leased vehicle			5,898		5,523
Valuation ofproperty			425
Depreciation			2,668		2,378
Provision for doubtful		debts	23,764
				57,464		27,369
Rcgimemal commitmcnts:
Grenadier Day					5,950
Remembrance	Day		441		7,030
Travel! ing and	entertaining		2,716		6,957
Presentations			4,754		2,418
				7,911		22,355
				238,101		228,252

		2020	2019
Wages		136,359	150,598
Social Security		6,310	7,418
Pension Costs		1,564	I,SSI
		144,233	I59,567
Allocated to:
Grants and donations	(note 7)	38,185	37,651
Support costs (note	8)	106,048	121,916
		144,233	159,567

		2020	2019
Audit fees		14,450	13,000
Account'mg	suppoit	2,110	4,260
Taxation and other advice		2,430	2,220
		18,990	19,480

he Charily had the following commitments und Decembm 2020:	er non-cancellable operating leases	as at 31
	2020	2019
	8
Payable in:
Less than one year	3,271	7,104
Between two and five years		3,082
	3,271	10,186

Tangible fixed assets
			Furniture
	Pictures,		fixtures		Band
	Silver,	etc	de equipment		instruments	Total
Cost
At 1 Januaiy 2020	679,869		60,678		89,843	830,390
Additions			2,950			2,950
At 31December 2020	679,869		63,628		89,843	833,340
Depreciation
At 1 Januaiy 2020			53,660		89,439	143,099
Charge for the year			2,668		404	3,072
At 31December 2020			56,328		89,843	146,171
Net book value
At 31December 2020	679,869		7,300			687,169
At 31December 2019	679,869		7,018		404	687,291
Regimental property (excluding f5,039,874(2019:f5,039,874).	Band	Fund	prope&xy)	is	currently	insured for

Total investments at market value	Total investments at market value	at the year end are:
			2020	2019
Land and Propeity			1,83 5,000	2,270,000
Managed Portfolio ofquoted	investments		5,397,856	5,182,176
Colonel's Fund quoted investments			2,536,731	2,454,616
Total investments held atyear		end	9,769,587	9,906,792
Freehold interest in laud and	buildings
			2020	2019
			g
10 High Street Tenterden, Kent			725,000	900,000
7 and 15 High Street, Wimborne,		Dorset	740,000	900,000
Sherborne			300,000	400,000
Land at Middle Green —Grazing		land	70,0GG	70,000
Total			1,835,000	2,270, GGG
Market value at 31 December	2019		2,270,000	2,270,000
Costs ofadditions
Revalued in the year			(435,000)
Market value at 31 December	2020		1,835,000	2,270,000

Investments (continued)
Managed Portfolio ofquoted	investments
		2020		2019
	Cost	Market	Cost		Market
		vshae			value
		g
Fixed Interest
United Kingdom	1,509,087	1,615,510	1,589,597		1,814,026
Other International	70,040	82,912	81,401		80,715
Kquities
United Kingdom	851,521	1,003,993	798,599		945,427
Other International	1,942,581	2,574,343	1,852,571		2,254,G I9
Cash
United Kingdom	121,098	121,098	87,389		87,389
Total Assets	4,494,327	5,397,856	4,409,557		5,182,176
Market value at 31 December	2019	5,182,176			4,613,773
Acquisitions		1,468,905			935,335
Disposals Investment gains		(1,693,4]3) 4140,188		(1,079,874) 7i2,942
Market value at3IDecember 2020		5,397,856			5.182,!7G

Colonel's Fund quoted investments	Colonel's Fund quoted investments
			2020		201.9
		Cost		Market	Cost	Market
				value		value
Fixed Interest
United Kingdom		639,311		684,048	687,438	782,961
Other International		78,i55		89,144	63,974	67,834
Equities
United Kingdom		239,653		257,994	338,107	398,030
Other International		904,599		1,234,218	754,287	946,608
Property
Charities Property	Fund	144,506		i95,275	144,506	202,569
Cash
United Kingdom		76,052		76,052	56,614	56,614
Total Assets		2,082,276		2,536,731	2,044,926	2,454,616
Market value at 31	December 2019			'2,454,616		2,238,192
Acquisitions				598,111		405,009
13isposals				(675,550)		(499,843)
Inveshnent gains				159,554		311,258
Marl&et value at 31	December 2020			2,536,731		2,454,616

		Relief in
		Need	Colonel' s	2020
		FundI	Fund	Total
Balance at 1 January 2020		989,407	2,454,G16	3,444,023
Income		71,835	90,083	161,918
Fxpenditure		(114,365)	(167,0 1.9)	(281,384)
Gains and Losses		4,461	159,554	164,015
Transfers between	funds	345,243	23,050	368,293
Balance at 31December 2020		1,296,581	2,5G0,284	3,856,865

nds fallowing a re	view offund balances,
		Relief in
		Need	Colonel' s	2019
		Fund	Fund	Total
Balance at I January 2019		889,871	2,238,192	3,128,063
Income		]OG,751	103,077	209,828
Expenditure		(G2,481)	(197,911)	(260,392)
Gains and Losses		122,990	311,258	434,248
Transfers between	funds	(67,724)		(67,724)
Balance at 31December 2019		989,407	2,454,616	3,444,023

				2020
		Unrestricted	Restricted	Total
		E	f,	6
Tangible	Fixed Assets	687,169		687,169
Investments		5,984,384	3,785,203	9,769,587
Net Current Assets /(Liabilities)		(35,204)	7I,662	36,458
		6,636,349	3,856,865	10,493,214
				2019
		Unrestrir ted	Restricted	Total
				g
Tangible	I'ixed Assets	687,291		687,291
Investments		6,162,645	3,744,147	9,906,792
Net Current Assets /(Liabilities)		285,291	(300,124)	(14,833)
		7,135,227	3,444,023	10,579,250

			Unrestricted	Restricted	2019
			Funds	Funds	Total
Income from:
Donations and legacies			47,893	96,053	]43,946
Trading activities			11,569	12,700	24,269
Investments			235,194	101,075	336,269
			294,656	209,828	504,484
Total
Expenditure on.
Raising funds			i05,540	22,879	128,419
Charitable activities			34],220	237,513	578,733
Total resources expended			446,760	260,392	707,152
141et (expend itu re'I			(152,104)	(50,564)	(202,668)
Other recognised	gains	and tosses
Realised and unrealised		gains/(losses):
on loves(nlell'ts			589,952	434,248	1,024,200
on propert)7
Nct (expenditure)			437,848	383,684	821,532
TIansfers between	funds		67,724	~67,724
Net movement in	funds		505,572	315,960	821,532