#
#
##
##
|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|
|7.|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|
##
##
|8.|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|