2022-12-31-accounts - The Grenadier Guards Charity

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Charity Commission	Charity Commission	Scheme	The Grenadier Guards	Charity was	Charity was	formed	formed	formed	by a Charity	Commission	Commission	Commission	Commission
			Scheme dated 17 September		2015 which			merged the Grenadier				Guards
			Regimental and Battalion Charity, The Grenadier Guards Suspended Animation Charity, The Grenadier Guards							2" 3'"	Battalion Battalion
			Suspended Animation	Charity	and The		Grenadier Guards Regimental						and
			Battalion Relief Charity. The		Scheme		took effect on I			January			2016
			following which the assets and		liabilities			of The Regimental		and	Battalion
			Charities of the Grenadier		Guards		Common Investment			Fund			were
			transferred to the new charity and that charity						closed.
Ex-officio	Trustee		The Regimental Lieutenant Colonel ofthe					Grenadier Guards
			(Major General J M H	Bowder	OBE)
Co-opted Trustees			Brigadier D J H Maddan, DL
			Captain C A G Bennett
			Lieutenant General Sir	George	Norton	KCVO CBE
			Lieutenant General Sir	Charles	Walker	KCB DSO
			The Rt Hon The Earl ofDerby,		DL
Election			Replacement Co-opted	Trustees are appointed					by the Trustees
Regimental	Adjutant		Major JPW Gatehouse
Treasurer			Lieutenant Colonel JA	Keeley MBE
Address			Wellington Barracks
			Birdcage Walk
			London SW1E6HQ
Registered	Charity	Number	1062257
Bankers			Lloyds TSBBank Plc		Auditors				Saffery Champness		LLP
			Cox's k King' s						71 Queen Victoria		Street
			P0Box 1000						London EC4V 4BE
			Andover
			BX111LT
Solicitors			Wrigleys Solicitors LLP		Investment				Cazenove Capital
			19Cookridge Street		Managers				Management	Limited
			Leeds LS2 3AG						12Moorgate
									London EC2R 6DA
Property	Managers		The Hedley Foundation 1 College Hill						P J Smith Associates The Old Place, Lockpath
			London EC4R 2RA						Dorney, Windsor		SL4		6QQ

							2022	2021
				Notes
					Unrestricted	Restricted	Total	Total
					Funds	Funds
Income from:
Donations and legacies					53,119	177,036	230,155	143,022
Trading activities					12,771	33,531	46,302	90,870
Investments					201,210	81,844	283,054	199,419
Total income					267,100	292,411	559,511	433,311
K&xpenditure on:
Raising funds					79,718	57,661	137,379	110,882
Charitable activities					352,527	298,909	651,436	517,511
Total resources	expended				432,245	356,570	788,815	628,393
Net expenditure	before		investment		(165,145)	(64,159)	(229,304)	(195,082)
movements
Other recognised		gains	and losses
Realised and unrealised			gains/	13
(losses):
on 1nvestments					(489,462)	(393,283)	(882,745)	839,238
on property								45,000
Net income/(expenditure)					(654,607)	(457,442)	(1,112,049)	689,156
Transfers between		funds		14	6,704	6,704
Net movement	in	funds			(647,903)	(464,146)	(1,112,049)	689,156
Funds balance	brought		forward		7,018,831	4,163,539	11,182,370	10,493,214
Funds balance	carried		forward		6,370,928	3,699,393	10,070,321	11,182,370

		2022	2022	2021	2021
	Notes
Fixed assets
Tangible fixed assets	12		696,271		691,998
Investments	13		9,325,536		10,348,800
			10,021,807		11,040,798
Current assets
Stocks		3,018		3,172
Sundry debtors		67,529		39,513
Cash at bank and in hand		43,562		160,398
		114,109		203,083
Current liabilities
Sundry creditors		(65,595)		(61,5]1)
Net current assets/(liabilities)			48,514		141,572
Net assets			10,070,321		11,182,370
Funds
Restricted funds:	14
Relief in Need			1,245,724		1,371,975
Colonel's Fund			2,453,669		2,791,564
Unrestricted funds			6,370,928		7,018,831
			10,070,321		11,182,370

				2022	2021
Net cash (used)/provided by operating	activities (see
note below)				(533,709)	(419,427)
Cash flows from investing activities
Investment income				283,054	199,419
Purchase oftangible fixed assets				(6,701)	(7,599)
Proceeds from disposals offixed assets
Purchase ofinvestments				(2,798,329)	(1,531,532)
Proceeds on disposal ofinvestment				2,938,849	1,836,557
Net cash provided/(used) by investing	activities			416,873	496,845
Change in cash and cash equivalents	in the	year		(116,836)	77,418
Cash and cash equivalents at 1 January				160,398	82,980
Cash and cash equivalents at 31December				43,562	160,398
NOTE				2022	2021
Reconciliation ofnet (expenditure)/income		to net
cash flow from operating activities
Net (expenditure)/income for the reporting		period	as
per the statement offinancial activities				(1,112,049)	689,156
Adjustments for
Depreciation charges				2,427	2,770
Realised/unrealised (gains)/losses on investments				882,745	(839,238)
Unrealised (gains)/losses on property					(45,000)
Investment income				(283,054)	(199,419)
Decrease in stock				154	49
Decrease/(increase) in debtors				(28,016)	(11,934)
(Decrease)/increase in creditors				4,084	(15,811)
Net cash provided by operating activities				(533,709)	(419,427)
Analysis ofcash and cash equivalents
			At 1January	Movement	At 31
			2022	in the year	December 2022
Cash at bank and in hand			160,398	(116,836)	43,562

										2022	2021
							Unrestricted		Restricted	Total	Total
	One Day's	Pay Scheme							51,175	51,175	51,313
	Donations	—Colonel's		Fund					125,861	125,861	45,540
	Donations	—other						53,119		53,119	46,169
								53,119	177,036	230,155	143,022
3.	Trading activities
										2022	2021
							Unrestricted		Restricted	Total	Total
	Band Fund	income						863		863	182
	Colonel's	Fund fundraising							33,531	33,531	80,229
	Sale ofregimental		goods					11,908		11,908	10,459
								12,771	33,531	46,302	90,870
4.	Investment	income
										2022	2021
							Unrestricted		Restricted	Total	Total
								f.
	Dividends							91,428	19,061	110,489	47,490
	Dividends	—Colonel's		Fund					39,899	39,899	33,308
	Rental income							109,766	22,884	132,650	118,608
	Deposit interest							16		16	13
								201,210	81,844	283,054	199,419
										2022	2021
	Rents receivable:
	10 High Street, Tenterden,				Kent					58,000	53,167
	7 and 15 High Street, Wimborne,					Dorset				50,000	50,479
	Land at Middle Green,			Langley,		Slough,		Berkshire		2,650	2,650
	Sherborne									20,000	10,312
	Other income —wayleave				rent/grazing		land rent			2,000	2,000
										132,650	118,608

5.	Raising funds	Raising funds
								2022	2021
						Unrestricted	Restricted	Total	Total
	Colonel's	Fund fundraising
	expenses						46,977	46,977	20,607
	Cost ofregimental		goods		sold	25,975		25,975	27,892
	Band Fund	expenditure				2,498		2,498	2,530
	Investment	management			fees	39,677	8,272	47,949	49,526
	Rental expenses					1],568	2,412	13,980	10,237
						79,718	57,661	137,379	110,882
6.	Charitable	activities
								2022	2021
						Unrestricted	Restricted	Total	Total
	Grants and donations			(note 7)		162,535	226,965	389,500	298,115
	Support costs (note		8)			189,992	71,944	261,936	219,396
						352,527	298,909	651,436	517,511

Grants and donations
			2022	2022	2021	2021
				Total		Total
Unrestricted specific:
Adventure and individual	training:
Battalion/Company			8,642		4,400
Officers' welfare: Battalion		messes	10,000		10,000
Spoils, recreation and other
activities: Battalion/Company			47,004		47,000
Welfare grants —serving soldiers:
Education			900		1,550
Charitable donations			854		290
Recruiting and publicity			6,604		5,217
				74,004		68,457
Unrestricted other grants:
Queen's Guard subsidy			1,050		1,498
First Guards Club-Wedding		Present
Grant			4,500
Sergeants' (Past and Present)		Club	1,750		1,750
ABF The Soldiers' Charity			8,000		7,500
Lieutenant Colonel's Contingency
Fund			17,019		15,632
Special Events			9,703
Other grants			46,509		13,500
				88,531		39,880
Total unrestricted				162,535		108,337
Restricted:
Welfare grant to Association			30,000		30,000
Colonel's Fund (including	casualty		196,965		159,778
support)
Total restricted				226,965		189,778
				389,500		298,115

Support costs	Support costs
				2022	2022	2021	2021
					Total		Total
							K
Administration:
Printing, postage and			stationery	3,860		3,735
Staff costs				85,878		110,776
Accounting	support, tax and other			27,917		31,918
advice
GDPR project				998		1,236
Computer				10,397		9,592
Audit and	accountancy			18,740		19,580
Legal and	professional		fees	32,636
					180,426		176,837
Regimental	prope:
Repairs, maintenance			etc	33,945		20,219
Insurance				7,899		5,058
Leased vehicle						(555)
Valuation	ofproperty					7,129
Depreciation				2,427		2,770
Sundry				228
					44,499		34,621
Regimental	commitments:
Grenadier	Day			8,406		317
Remembrance		Day		7,802		471
Travelling	and	entertaining		12,032		4,206
Presentations				8,771		2,944
					37,011		7,938
					261,936		219,396

Emoluments	ofemployees	ofemployees
			2022	2021
Wages			120,049	140,524
Social Security			6,913	5,172
Pension Costs			2,724	3,431
			129,686	149,127
Allocated to:
Grants and donations		(note 7)	43,808	38,351
Support costs	(note	8)	85,878	110,776
			129,686	149,127

		2022	2021
Audit fees		15,645	15,575
Accounting	support	1,400	1,400
Taxation and other advice		1,695	1,605
		18,740	18,580

			Furniture
		Pictures,	fixtures	Band
		Silver, etc	8r, equipment	instruments	Total
Cost
At	1 January 2022	685,333	65,763	89,843	840,939
Additions		6,700			6,700
At	31December 2022	692,033	65,763	89,843	847,639
Depreciation
At	1 January 2022		59,098	89,843	148,941
Charge for the year			2,427		2,427
At	31December 2022		61,525	89,843	151,368
Net book value
At	31December 2022	692,033	4,238		696,271
At	31December 2021	685,333	6,665		691,998

Total investments at market value	at the year end are:
		2022	2021
Land and Property		1,880,000	1,880,000
Managed Portfolio ofquoted investments		5,010,905	5,764,605
Colonel's Fund quoted investments		2,434,631	2,704,195
Total investments held at year	end	9,325,536	10,348,800
Freehold interest in land and buildings
		2022	2021
10High Street Tenterden, Kent		770,000	770,000
7 and 15 High Street, Wimborne,	Dorset	770,000	770,000
Sherborne		270,000	270,000
Land at Middle Green —Grazing	land	70,000	70,000
Total		1,880,000	],880,000
Market value at 31 December 2021 Costs ofadditions		1,880,000	1,835,000
Gain/(Loss) on revaluation			45,000
Market value at 31 December 2022		1,880„000	1,880,000

Investments (continued)	Investments (continued)
Managed Portfolio ofquoted investments
		2022		2021
	Cost	Market	Cost		Market
		value			value
Fixed Interest
United Kingdom	1,465,313	1,451,884	1,230,081		1,463,286
Other International	326,652	314,342	274,799		264,341
Equities United Kingdom	222,356	245,132	559,149		690,294
Other International	2,243,596	2,655,558	2,251,894		3,120,513
Cash
United Kingdom	343,989	343,989	226,172		226,172
Total Assets	4,601,906	5,010,905	4,542,095		5,764,606
Market value at 31 December 2021		5,764,606			5,397,856
Acquisitions		1,926,740			1,034,501
Disposals		(2,088,938)			(1,254,452)
Investment gains		(591,503)			586,701
Market value at 31December 2022		5,010,905			5,764,606

olonel's Fund quo	ted investments
			2022		2021
		Cost		Market	Cost	Market
				value		value
Fixed Interest
United Kingdom		636,805		631,517	530,997	630,629
Other International		162,020		155,708	I32,823	138,008
Equities
United Kingdom		89,154		97,073	237,412	291,974
Other International		992,943		1,]82,540	928,683	1,318,699
Property
Charities Property	Fund	144,506		198,756	144,506	215,739
Cash
United Kingdom		169,037		169,037	109,146	109,146
Total Assets		2,194,465		2,434,631	2,083,567	2,704,195
Market value at 31 December 2021				2,704,195		2,536,731
Acquisitions				871,589		497,031
Disposals				(849,911)		(582,104)
Investment gains				(291,242)		252,537
Market value at 31December 2022				2„434,631		2,704,195

The transfer between	unrestricted		and restricted	funds represent a correction ofan allocation	funds represent a correction ofan allocation	between
funds made in the year which		relates to the		Relief In Need's Share of the 2021 audit fee paid in
September 2022 from	unrestricted		funds.
				Relief in
				Need	Colonel' s	2021
				Fund	Fund	Total
Balance at 1 January 2021				1,296,581	2„560,284	3,856,865
Income				79,910	159,076	238,986
Expenditure				(112,985)	(180,385)	(293,370)
Gains and Losses				60,015	252,537	312,552
Transfers between	funds			48,454	52	48,506
Balance at 31December 2021				1,371,975	2,791,564	4,163,539

			2022
	Unrestricted	Restricted	Total
Tangible Fixed Assets	696,271		696,271
Investments	5,702,155	3,623,381	9,325,536
Net Current Assets /(Liabilities)	(27,498)	76,012	48,514
	6,370,928	3,699,393	10,070,321
			2021
	Unrestricted	Restricted	Total
Tangible Fixed Assets	691,998		691,998
Investments	6,325,834	4,022,966	10,348,800
'Net Current Assets /(Liabilities)	999	140,573	141,572
	7,018,831	4,]63,539	11,182,370

			Unrestricted	Restricted	2021
			Funds	Funds	Total
Income from:
Donations and legacies			46,169	96,853	143,022
Trading activities			10,641	80,229	90,870
Investments			137,515	61,904	199,419
			194„325	238,986	433,311
Total
Expenditure on:
Raising funds			79,965	30,917	110,882
Charitable activities			255,058	262,453	517,511
Total resources expended			335,023	293,370	628,393
Net (expenditure)			(140,698)	(54,384)	(195,082)
Other recognised	gains	and losses
Realised and unrealised		gains/(losses):
on investments			534,449	304,789	839,238
on prope			37,237	7,763	45,000
Net (expenditure)/income			430,988	258,168	689,156
Transfers between	funds		(48,506)	48,506
Net movement in funds			382,482	306,674	689,156