Charity reglstration number 1069782 CHARifi FOR THE BENEFIT OF THE SHERWOOD RANGERS YEOMANRY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER Z024
CHARITY FOR THE BENEFIT OF THE SHERWOOD RANGERS YEOMANRY LEGAL AND ADMINISTRATIVE INFORMATION Trustees C Whitamore M Flint M Mawer D Fischer P Carnpbell N Cornish R Marsh N Astbury Charlty number 1069782 Independent examlner TC Group 20 Commerce Road Lynch Wood Peterborough Cambridgeshlre England PE2 6LR
CHARITY FOR THE BENEFIT OF THE SHERWOOD RANGERS YEOMANRY CONTENTS Page Trustees, report Independent examiner's report Statement of financial activlties Balance sheet Notes to the financial statements 8-14
CHARITY FOR THE BENEFIT OF THE SHERWOOD RANGERS YEOMANRY TRUSTEES, REPORT FOR THE PERIOD ENDED 31 DECEMBER 2024 The Trustees present their annual report and financial statements for the Period ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out in note I to the financial statements and comply with the charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charitie5: Statement of Recommended Practice applicable to charities preparing their account5 in accordance with the Flnancial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective l January 20191. Objectlve5 and artlvltles Public benefit The trustees shall hold the Trust Fund and Its Income upon trust to apply them for the following objects Ithe 'Oblerts'l Ca ital and Incom The tru5tee5 Shall a5 and when they thlnk flt opply or cause to be applied the whole or any part of the client capital or income cf the Trust Fund for the benefits of the Existing Units (shall mean 'B" Isherwood Rangers Yeomanry) Squadron formerly ofThe Royal Yeomanry but now of The Queen's Own Yeomanry and èny addition31 or successive Unit or Subunit thereof from time to timel and the Former Units IshalS mean any Troop of Yeomanry Volunteer Cavalry raised in Nottinghamshire and any unst formed from them or any combination of them, the North Nottin8hamshlre Yeomanry the Sherwood Rangers Yeomanry, Teriitorial Army and the Sherwood Rangers Yeomanry IT), Territorial and Army Volunteer Reserve-Cate8ory 1111 in accordance with the powers vested in them to., malntaln and promote esprlt de corps of the Existing Units,. assist so far as possible members or former members of the Existin8 Units and Former Units in obtalning employment., help widows of any such members or former members and chlldren who through no fault of their own flnd themselve5 in distressed circumstances,. help so far as possible necessltous cases among any such members and their families or dependants, and.. make grants for equivalent purposes to unit5 of the Army Cadet Force afflliated to Existing Units,, make grants to the Trustee5 ofthe Sherwood Rangers Yeom3nry Museum Trust,. make grants to the Committee of the Sherwood Rangers Yeomanry Regimental A5sociatlon for application in a551Sting persons in cases of need who are serving in the Existing Units of who have served in the Existing Units or in the Former Units and their dependants., make grants to the trustees of the Queen's Own Yeomanry Benevolent Fund,. make 8rants to the trustees of the Queen's Royal Lancer Regimental Museum Trust or any successor thereto,. make grants to the Queen 's Own Yeomanry Regimental Association or any other Regimental Association of a Unit of which the Existing Unlts from tlme to time form part,. pay subscription5 or make donations to any hospital, home or institution having among its objects the succour In slckness or convalescence of offScers or men who are serving or have servod any unit or branch of Her Majesty's Force5,' pay subscriptions or make donations to any charitable learned society or other charitable institution h3ving amons its object5 the promotion and advancement of the science and literature of the three fighting services or to public museums relating to British Mllitary Forces.,
CHARITY FOR THE BENEFIT OF THE SHERWOOD RANGERS YEOMANRY TRUSTEES. REPORT ICONTINUEDI FOR THE PERIOD ENDED 31 DECEMBER 2024 The Chattels To hold and maintain the chattels for the use by and benefit of (whether by way of loan or otherwise) the Existing Unit5 and generally in order to promote the Existin8 Units and their interests and for the maintenance of esprit de Corps. Insofar as any item forming part of the Chattels is not required for use by the Existing Units to SUPPOrt at the discretion of the Trustees (by making loans or otherwise).. I, The Sherwood Ranger5 Yeomanry Museum Trust. 2. Units for the time belng of the Army Cadet Force (including the combined Cadet Force of Schoo5sl which are in any such case affillated to the Existing Units., any Units or Unit5 for the time being of the Territorial Army,. any charitable learned society or other charitable institution having arnong5t its objects the promotion and advancement of the science and Ilterature of the three fighting services,. 5. public museums relating to 8ritish Military Forces,. such other body or organisation and for such purposes as the trustees with the consent of the Commi5s1oners may frorn time to time thlnk fit.
CHARITY FOR THE BENEFIT OF THE SHERWOOD RANGERS YEOMANRY TRUSTEES, REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2024 Review of the Year Preplanned reinvigoration of the Association's relationship with the 5ervin8 squadron built up well from the beginning of the year. This saw the contiriuance of the annu31 Dinner, the return to Carlton of the Alamein Ball, and strong support to the Squadron Christmas Party, together with monthly meeting5 held alongside drill nights. Regular low key welfare activlty of vi51ts and calls to let less fortunate members and their families know they ore remembered and cared about continued, thanks to our dedicated welfare representatives. Practical support was given to one serving member. Widows, fund Christmas voucher5 continued to be distributed to the much-reduced number who had requested this. The 80th anniversary of D Day and the Normandy campalgn was attended by a Sherwood Rangers party of 44, who participated Sn the 6th June ceremony at Le Hamel, the 8ayeux Liberation ceremony on 7th June, and a commemoration 3t the St Pierre farmhouse, In addition to other visits including Berjou. A Sherwood Rangers memorial bench at the British Normandy Memorial at Ver Sur Mer was established through private subscription bv many member5 of the A550ciation and the public. An appropriate contribution was made to a new memorial wall at Asnelles with the names of those from all units killed in or around the village on D Day Itself, this again beln8 covered by private subscription which a150 8ener3ted 3 useful surplus, Arrangements were made for our surviving veteran, Mr Roy Haywood. to feature prominently in the 8BC coverage of the 80yi anniversary of D Day ceremonies at Portsmouth, where he was sUPPOrted by a serving Sherwood Ranger and met member5 of the Royal Familv. Very substantial sustained effort by many volunteers meant that the Carlton collectSon and archlve were transferred by the end of the year to their new home in the former Corporals, Club, where over time they will be or8ani5ed and developed into a History Room, ie a store and workin8 area wlth a small 'workin8 dSsplay' element. A strong group of veterans marched in the Remembrance Sunday parade at Newark, where they were pleasantly surprised to hear complimentary comments on their drill and timing. A Sherwood Rangers plot at the Royally- attended Field of Remembrance in Westminster again contained individual memorial crosse5 for those lost. Flnanclal revlew The financial accounts show a profit for the year whlch was augmented by the Insurance pay out for the items of silver lost durlng the break In at the museum at Thorseby. The funds from the insurance pay out are held on deposlt pending a declsion on a replacement. During the year grants were pald to support welfare and subsidy of a servln8 member of the squadron to take part In the 80th annlversary of the Normandy landin85. A successful appeal was made for the memorial wall at Asne11es. The annual dinner was held in April which provided a contributlon to the account5. Annual payment5 from the widows fund were made again in December, at a lower level than in the past, the fund will continue to reduce in value,
CHARifi FOR THE BENEFIT OF THE SHERWOOD RANGERS YEOMANRY TRUSTEES, REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2024 Strurturei governance and management The Trustees who Served during the Period and up to the date of slgnature of the f5nancSal statements were-, C Whitamore M Flint M Mawer D Fischer P Campbell N Cornish R Marsh N Astbury The Trustee5' report was approved by the Board of Trustees. C Whitamore Trustee Date,.
CHARITY FOR THE BENEFIT OF THE SHERWOOD RANGERS YEOMANRY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHARITY FOR THE BENEFIT OF THE SHERWOOD RANGERS YEOMANRY I report to the Trustees on my examination of the financial statements of Charity For The Benefit Of The Sherwood Rangers Yeomanry Ithe I for the Period ended 31 December 2024. Responslbilities and basls of report As the Trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report Sn respect of my examinatlon of the charity's financial statements carried out under section 145 of the 2011 Act. In carryin8 Out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act, Independent examlner's statement Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accountin8 and Reporting by Charitle5 preparing thelr accounts in accordance wlth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 Sn preference to the Accounting and Reportin8 by Charities.. Statement of Recommended Practlce i55ued on l April 2005 which Is referred to in the extant regulations but has now been withdrawn. understand that this has been done In order for financial statements to provide a true and falr view In accordance wlth Generally Accepted Accounting Practice effective for reporting periods beginnln8 on or after I January 2015, I have completed my examination. I confirm that no matters have come to rny attention in connection with the examination giving me cause to believe that in any material respect,. accounting records were not kept in respect of the as required by sectlon 130 of the 2011 Act; or the financial statements do not accord with those records,. or the financial statement5 do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the a¢¢ountS give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to whlch attentlon should be drawn in this report In order to enable a proper understanding of the financial statements to be reached. TC Group 20 Commerce Road Lynch Wood Peterborough Cambridgeshire PE2 6LR England Dated..
CNARITY FOR THE BENEFIT OF THE SHERWOOD RANGERS YEOMANRY STATEMENT OF FINANCIAL ACTIVITIES INCLUDING SNCOME AND EXPENDITURE ACCOUNT FOR THE PERIOD ENDED 31 DECEM8ER 2024 Unrestricted Restrlrted funds funds 2024 2024 Total Unrestrlrted Restrlrted funds funds 2023 2023 Total 2024 2023 Notes Income and endowments from: Donations and leEa¢ies Charitable activities Investments Other income 1,510 40,428 4,241 859 1,510 40,428 4,241 859 1,120 536 3,420 218 1,120 536 3,420 218 Total Income 47,038 47,038 5,294 5,294 Expendlture on: Charitable activities 8,641 320 8,961 4,282 200 4,482 Total expendlture 8,641 320 8,961 4,282 200 4,482 Net gainslllossesl on investments 249 249 11121 11121 Net Income/{expendlturel and movement in funds 38,646 13201 38,326 900 12001 700 Reconciliation of funds.. Fund balances at l January 2024 114,316 2,448 116.764 113,416 2,648 116,064 Fund balances at 31 December 2024 152,962 2,128 155,090 114,316 2,448 116,764 The statement of financial activities includes all gains and losses reco¥nised in the Period. All income and expenditure derive from continuing activlties,
CHARITY FOR THE BENEFIT OF THE SHERWOOD RANGERS YEOMANRY BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Notes Flxed a55ets Investments li 85,919 85,670 Current assets Stocks Debtors Cash at bankand in hand 12 13 21,425 990 47,828 21,875 219 9,750 70,243 31,844 Creditors: amount5 fallln8 due wlthin one year 14 11,0721 17501 Net current assets 69,171 31,094 Total a55ets less current Ilabllltles 155,090 116,764 Net assets exeludlng penslon Ilablllty 155,090 116,764 The funds of the Restrlcted income funds UnrestrScted funds 15 2,128 152,962 2,448 114,316 15S,090 116,764 The flnancial statements were approved by the Trustees on itamore Trustee
CHARITI FOR THE BENEFIT OF THE SHERWOOD RANGERS YEOMANRY NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024 Aceountlng policies Charlty information Charity For The Benefit Of The Sherwood Rangers Yeomanry is a charity. The trustees shall.. A. As and when they think fit apply or caus2 to be applied the whole or any part of the client capital or income of the Trust Fund for the benefits of the Existing Units as defined under objects and activities. B. Hold and maintain the chattels. 1.1 Accountlng conventlon The financial statements have been prepared in accordance with the charity'5 governing document, the Charities Act 2011, FRS 102 'The Financial Reportin8 Standard applicable in the UK and Republic of Ireland" I'FRS 102,1 and the Charities SORP 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charlties preparlng their accounts in accord3nce with the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021" leffectlve l January 20191. The charity15 3 Public Benefit Entity a5 defined by FRS 102, The charlty ha5 taken advantage of the provislons In the SORP for charities not to prepare a Statement of Cash Flows. The financial statements have departed from the Charities IAtcounts and Reports) Regltlatlons 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the verslon of the statement of Recommended Practice which is referred to in the Regulations but which has slnce been wSthdrawn. The flnanclal statements are prepared In sterling, which 15 the functlonal currency of the Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the hlstorlcal cost convention, Imodified to include the revaluatlon of freehold properties and to Include Investment properties and certaln financial Instruments at fair valuel. The prlnclpal accounting policies adopted are set out below, 1.2 Going concern At the time of approvin8 the financial statements, the Trustees have a reasonable expectatlon that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue ta adopt the going concern basis of accounting in preparing the finantial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donor5 or grantors as to how they may be used. The purposes and uses of the restricted funds are Set out in the notes to the financial statements.
CHARITY FOR THE BENEFIT OF THE SHERWOOD RANGERS YEOMANRY NOTE5 TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2024 Accountlng policles (Continued) Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. 1.4 Income Income 15 accounted for on a receivable ba51S. 1.5 Expendlture Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement. and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct Costs attributable to single activity are allocated directly to that activity. Shared costs whlch contribute to mcre than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basls conslstent with the use of resources. Central staff costs are allocated on the basis of tlme spent, and depreciation charges are allocated on the portlon of the asset's use. 1.6 Flxed asset Investrnent5 Investments are stated at market value as provided by the investment manager. Sllverware which is difficult to value Is Included in the accounts at a notional f igure of £1. 1.7 Stocks The charity alse holds regimental sllverware and other high value assets. Due to the nature of many of these the value is difflcult to assess with any certainty, The trustees are of the opinion that to attempt a full valuation would be expensive and would serve no useful benefit to the charity. Consequently, no value ha5 been Included in the accounts. 1.8 Cash and cash equlvalents Cash and cash equivalents include cash In hand, deposlts held at call wlth banks, other short-term Ilquld investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown wlthln borrowing5 in current liabilities. Crltical a¢¢ountln8 estlmates and judgements In the application of the '5 accounting pollcies, the Trustees are required to make judgements, estimares and assumptions about the carrying amount of assets and Ilabilitie5 that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relev3nt. Actual results rray dlffer from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Aevisions to accounting estlmate5 are recognised In the perlod in whlch the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods,
CHARITY FOR THE BENEFIT OF THE SHERWOOD IiANGERS YEOMANRY NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE PERIOD ENDED 31 DECEMBER 2024 Incorne from donatlons and Se8acles Unrestrlrted funds 2024 Unrestrlrted funds 2023 Donation5 and 6ift5 1.510 1,120 Income from charltable activitSe5 UnrestrScted funds 2024 Unrestrlcted funds 2023 Surplus of sales of books Surplus on plaque5 Asnelles Projerts / sundry Insurance Dlnner tlcketS 159 98 2,495 12 35,300 2,364 503 13 20 40,428 536 Income from Investments Unrestrlcted Unrestrlrted funds funds 2024 2023 Investment income 4,241 3,420 10-
CHARITY FOR THE BENEFIT OF THE SHERWOOD RANGERS YEOMANRY NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE PERIOD ENDED 31 DECEM8ER 2024 Other Income Unrestrlrted Unrestrlrted funds funds 2024 2023 Gift Aid 859 218 Expendlture on charltable artlvltles 2024 2023 Dlrert costs Grants Museum Governance costs - accountancy Museum IT Insurance and valuations Circulars, printing and postage Repairs and renewals R8L, wreaths and flowers Annual dinner Asnelles 2,786 182 600 686 585 713 750 494 I,ooi 33 1,051 159 213 517 999 1,800 874 8,961 4,482 Analys1$ by fund Unrestricted funds Restricted funds 8,641 320 4,282 200 8,961 4,482 Trustees None of the Trustees lor any persons connected with theml received any remuneration or benefits from the during the Period. 11
CHARITY FOR THE BENEFIT OF THE SHERWOOD RANGERS YEOMANRY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD EAIDED 31 DECEMBER 2024 Gains and losses on investments Unrestrlcted Unrestricted funds fund5 2024 2023 Gains/llossesl arising on: Revaluation of Investments 249 11121 10 Thxation The charity is exempt from taxation on Its actlvitles because all It5 Income Is applled for charitable purposes. 11 Flxed asset Investments Investments Cost or valuation At l January 2024 & 31 December 2024 85,670 Carrylng amount At 31 December 2024 85,670 At 31 December 2023 85,670 12 Stocks 2024 2023 Legacy acqulsltions Stock 16,784 4,641 16,784 5,091 21,425 21,875 13 Debtors 2024 2023 Amounts falllng due wlthin on¢ year: Other debtors 990 219 12
CHARITY FOR THE BENEFIT OF THE SHERWOOD RANGERS YEOMANRY NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE PERIOD ENDED 31 DECEMBER 2024 14 Creditor5.' amounts falling due within one year 2024 2023 Trade creditors Accruals and deferred income 472 750 600 1,072 750 15 Restrlcted funds The restricted f unds of the charity comprise the tsnexpended balances of donations and 8rants held on trust Subject to specific conditions by donors as to how they may be used. At l January 2024 Resources expended At31 December 2024 2,448 13201 2,128 Prevlous year: At l January 2023 Resour¢es expended At31 December 2023 2,648 12001 2,448 16 UnrestrSrted funds The unrestrlcted funds of the charlty comprise the unexpended balances of donatlons and grants whlch are not subject to speclfic conditions by donors and grantors as to how they may be used. These include deslgnated funds which have been set aside out of unrestritted funds by the trustees for specif ic purposes, At l January 2024 In¢omlnz resources Resources eypended Galns #nd 1055es At31 December 2024 General funds 114,316 47,038 18,6411 249 152,962
CHARITY FOR THE BENEFIT OF THE SHERWOOD RANGERS YEOMANRY NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE PERIOD ENDED 31 DECEMBER 2024 16 Unrestricted funds Icontlnuedl Prevlous year: At l January 2023 Incoming resources Resources expended Galns and losses At31 December 2023 General fund5 113,416 5,294 14,2821 11121 114,316 17 Related party transactlons There were no dlsc10s3ble related party transactlons during the Perlod12023 . nonel. 14