THE ROYAL CORPS OF ARMY MUSIC TRUST
## REGISTERED CHARITY NUMBER 1073432
Annual Report and Financial Statements for the year 1 April 2023 to 31 March 2024
The Charity’s principal address is:
## Headquarters
The Royal Corps of Army Music Trust
Cloutman Building
Gibraltar Barracks
Minley GU17 9LP
## **Contents**
## **1. List of Trustees**
## **2. Governance**
## **3. Objects of the Charity**
## **4. Annual Report**
## **5. Independent Examiner’s Report**
## **6. Statement of Financial Activities**
## **7. Balance Sheet**
## **8. Analysis of Income and Expenditure**
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## 1 LIST OF TRUSTEES
## Role Date of appointment
Lieutenant General David James Eastman MBE Colonel Simon Neil Haw MBE Colonel David Andrew Barringer MVO MBE Lieutenant Colonel Craig Hallatt Lieutenant Colonel Lauren Petritz-Watts Warrant Officer Class One David James Hatton Doctor Marc van Grondelle MSc PhD Mr Nik Preston Professor Philip Dermot McEvoy OBE Mr Vincent Eckerman Mr Francis Roseman
Mr John Arvid Camillo Huggins Major Guy William Bennett
Chair 6 September 2021 Trustee Retired – 15 May 2024 Trustee 15 May 2024 Trustee Retired – 2 September 2024 Trustee 2 September 2024 Trustee 3 April 2023 Trustee 1 March 2014 Trustee 23 April 2015 Trustee 29 November 2016 Trustee 31 March 2022 Trustee 3 November 2022 Secretary Retired – 30 September 2024 Secretary 1 October 2024
Contact the Secretary Telephone: 07879 671138 Email: CAMUSCorpsSec@hotmail.com
Major Guy Bennett Telephone: 07976 292818 Email: Guy.Bennet134@mod.gov.uk / CAMUSCorpsSec@hotmail.com
## 2 GOVERNANCE
2.1 Colonel S Haw MBE retired as Corps Colonel (Trustee) on 15 May 2024 and Colonel D Barringer MVO MBE was appointed Corps Colonel (Trustee) on 15 May 2024. On 2 September 2024 Lieutenant Colonel C Hallatt Principal Director of Music (Army) (Trustee) retired and Lieutenant Colonel L Petritz-Watts was appointed Principal Director of Music (Army) (Trustee). On 20 September 2024, Dr M van Grondelle retired as a Trustee. Mr J Huggins retired as Secretary on 30 September 2024 and Major Guy Bennett was appointed Secretary on 1 October 2024.
## 3 OBJECTS OF THE CHARITY
3.1 Object 1. to promote the efficiency of the army and in particular that of the Royal Corps of Army Music (the Corps) in such ways as the trustees from time to time think fit.
3.2 Object 2. to foster esprit de corps and comradeship between all serving and former members of the Corps.
3.3 Object 3. to relieve either generally or individually serving and former members of the Corps and their dependants who are in conditions of need, hardship or distress (beneficiaries).
3.4 Object 4. to promote the education, training, physical fitness and efficiency of members of the Corps.
3.5 The Trust is open for membership to serving members of The Royal Corps of Army Music who subscribe one day’s pay a year to the Charity through the Day’s Pay Giving Scheme. On joining a member becomes a ‘life’ member, eligible for welfare and benevolence whilst serving or in
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retirement. Subscriptions are only collected from serving members of the Corps, but donations are welcome from all retired members and establishments.
## 4 ANNUAL REPORT
4.1 The Trust has three funds – an unrestricted General fund and two restricted funds; Army Sports Control Board which provides grants for Corps sporting activity and the RCAM Trust’s Enterprise funds. The latter of these is an experimental project, testing the viability of a larger income generating scheme. The report also shows Custodian funds managed through these accounts for the British Army Jazz Orchestra, the British Army Brass Band, the Director of Music’s Presentations, Kneller Hall Club and the Roots Memorial Prize funds.
## The Corps Journal
4.2 The journal of The Royal Corps of Army Music, “Fanfare” is published annually and distributed to all members of the Corps and is available for purchase to those who have an interest in the Corps or military music and is essential for communicating with serving and veteran members. This year £349 was received in subscriptions for the journal and production costs were £3,979. Postal copies of the journal were extended to include members of the Army Musicians Association, as well as the Kneller Hall Club, the Corps’ veteran associations.
## Financial Report
4.3 The overall income for this period was £153,145, an increase of 52% on the previous year’s amount of £100,636, showing a surplus of £7,679 compared to a deficit of £55,622 in the previous year. The total Trust income was £131,214 (unrestricted), an increase of 33% from £87,799. The increase was predominantly due to delayed investment receipts of an extra £18,484, a difference of £38,304 from BlackRock in the previous years and an increase of Subscriptions (outlined below).
4.4 The Statement of Financial Activity shows Subscriptions (Day’s Pay) was £67,763, up £5,494. Merchandise expenditure rose to £5,728 from £848, due to increased stocking levels in preparation for the upcoming Corps 30[th] Anniversary in 2024.
4.5 The Trust encourages welfare grants, which are a significant means of encouraging fitness and sporting activities through the contributions made to individuals’ cost of taking part in adventure training and other sporting activity. These activities develop not only part of an individual’s continuous professional development, but also the esprit de corps and moral component within the Corps and wider Army. The Army Sports Control Board grant of £10,000, was underutilised due to the Corps’ full commitment to the Coronation of His Majesty, King Charles III, however £5,484 was spent with the remaining amount identified for upcoming Corps events. Adventure Training, as ever, remains the greatest part of expenditure in the area of welfare support, with an overall spend of £15,506 promoting the training and education of members.
4.6 Expenditure of £40,434 has been made in preparation for the Corps’ 30[th] Anniversary Project – ‘RCAM30’ in 2024 and other expenditure is expected into the following year.
4.7 Benevolence grants are used to support Army musicians and their immediate dependants who require assistance through illness, disability or other personal conditions. Generally, grants are only a part of the individual’s needs and are made after in depth liaison with external service charities through their caseworkers. Expenditure in this area has increased by £2,844 to £8,911 from the previous year.
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## Reserves Policy
4.8 The Royal Corps of Army Music Trust’s Funds are generated primarily through donations from the One Day’s Pay Scheme and investments income. Trustees are satisfied that the Trust funds remain sufficient to continue to support the objectives appropriately, sustaining the efficiency of the Corps and those in need.
4.9 The Trust Reserves Policy recognises Restricted and Unrestricted funds, the latter of which include the Free Reserves which are kept available for use in future years and include the RCAM Trust’s Enterprise project and the Corps’ 30[th] Anniversary events. It also considers strategic planning for catastrophic events, a planned increase in administrative spending and a working capital to support the objects for the next five years. This is a total of £1,089k.
## Volunteers
4.10 RCAM Trust currently has no volunteers.
## Structure, Governance and Management (Governance)
4.11 The Royal Corps of Army Music Trust is constituted by a Deed of Trust (Dated 8[th] January 1999) and was entered onto the Charity Commissioners Register on 21[st] January 1999. On 15[th] October 2020, these were amended to reflect new practices and changes to the ex-officio Chairmanship and Board membership composition. As such it is an unincorporated association.
## Related Partes
4.12 There were no related party transactions during the year.
## Investments and Cash
4.13 A total of £586,373 was held as investments at the end of the year. This is a reduction as the Investment Committee at that time were in the process of making new investments. Subsequently, in the next financial period, £562,733 was invested with Waverton Investment Management Ltd in September 2024. We no longer invest with St James’s Place Wealth Management, but have maintained investments with Blackrock Armed Forces Charity Growth & Income (Distribution) fund although this is reduced to £586,373. It should be noted that there was a gain on the overall investment value by £25,894 in this period, which is positive. Investments are reviewed periodically by the Investment Committee.
4.14 All funds are managed through two bank Accounts. The primary Current Account administers the Unrestricted Funds and Restricted Funds. The second, Special Interest Bearing Account provides some additional income to the charity through interest, this year returning £2,641, an increase on last year’s income. The third ‘Restricted’ account is due to be closed and is kept at nil value. There was £10,361 held in the primary Current Account, £717,800 in the Special Interest Bearing Account, which includes the Waverton investment funds (£562,733) noted above, and £0 in the Restricted Current Account at the end of the year with £115 in Petty Cash.
## Bankers
4.15 Royal Bank of Scotland (Holt’s Military Banking).
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## Disbursement Policy
4.16 The Trustees will continue to welcome applications from serving and former members of the Royal Corps of Army Music for disbursements which fall within the Objects of the Trust.
Approved by the Trustees on 29 January 2025 and signed on their behalf by:-
D J Eastman MBE Lieutenant General Colonel Commandant The Royal Corps of Army Music Headquarters Cloutman Building Gibraltar Barracks Minley, GU17 9LP
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## 6. STATEMENT OF FINANCIAL ACTIVITIES
## The Royal Corps of Army Music Trust For the period from 01 April 2023 to 31 March 2024
||Unrestricted|Designated|Restricted|Total|Prior year|
|---|---|---|---|---|---|
||funds|funds|funds|funds|total funds|
|Income and endowments from:||||||
|Donatons and legacies|70,066|10,000|6,475|86,541|76,009|
|Income from charitable actvites|374|-|-|374|749|
|Other trading actvites|1,568|-|-|1,568|4,138|
|Investments|59,206|-|-|59,206|18,903|
|Other income|-|-|5,456|5,456|837|
|Total income|131,214|10,000|11,931|153,145|100,636|
|Expenditure on:||||||
|Raising funds|9,707|-|-|9,707|848|
|Expenditure on charitable actvites|-|-|-|-|-|
|Grants for the beneft of individuals|96,425|6,091|-|102,516|138,987|
|Grants to other charites|7,550|-|-|7,550|100|
|Grant making and other support costs|9,300|-|-|9,300|11,405|
|Other expenditure|-|-|16,393|16,393|4,195|
|Total expenditure|122,982|6,091|16,393|145,466|156,257|
|Net income / (expenditure) resources before transfer|8,232|3,909|(4,462)|7,679|(55,622)|
|Transfers:||||||
|Gross transfers between funds - in|-|-|11,610|11,610|10,000|
|Gross transfers between funds – out|(11,610)|-|-|(11,610)|(10,000)|
|Other recognised gains / losses||||||
|Gains/losses on investment assets|25,894|-|-|25,894|-|
|Gains on revaluaton, fxed assets, charity's own use|-|-|-|-|(3,000)|
|Net movement in funds|22,516|3,909|7,148|33,573|(58,622)|
|Reconciliaton of funds||||||
|Total funds brought forward|1,262,190|9,863|31,051|1,303,104|1,361,725|
|Total funds carried forward|1,284,706|13,772|38,199|1,336,677|1,303,104|
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## 7. BALANCE SHEET DETAILED
**The Royal Corps of Army Music Trust – 1073432** For the period from 01 April 2023 to 31 March 2024
||As at
31 Mar 24|As at
31 Mar 23|
|---|---|---|
|Fixed assets
Heritage assets
Investments
Current assets
Debtors
Investments
Cash At Bank And In Hand
Liabilites
Creditors: Amounts Falling Due In One Year
Net current assets less current liabilites
Total assets less current liabilites
Liabilites
Total net assets less liabilites
Represented by
Unrestricted
Unrestricted - General Funds
Designated
Designated - Army Sports Control Board
Restricted
Restricted - DOM Presentaton Fund
Restricted – BAJO
Restricted – BABB
Restricted - Enterprise
Restricted - Kneller Hall Club
Restricted - Roots Prize Day
Restricted – Other
Fund Totals|13,200
586,373
599,573
8,828
-
728,276
737,104
-
-
737,104
1,336,677
-
1,336,677
1,284,707
13,772
5,491
5,864
1,065
8,141
5,668
360
11,610
1,336,677|13,200
1,123,212|
|||1,136,412|
|||2,039
-
164,653|
|||166,692|
|||-|
|||-|
||||
|||166,692|
|||1,301,104
-|
|||1,301,104|
|||1,262,190
9,863
5,611
6,443
1,065
6,642
10,930
360
-|
|||1,303,104|
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## 8. ANALYSIS OF INCOME AND EXPENDITURE
## **The Royal Corps of Army Music Trust – 1073432**
||Total
General
Designated
Restricted
As at
31 Mar 24
As at
31 Mar 23|
|---|---|
|Income and endowments from:
Donatons and legacies
2201 - Subscriptons (Day's Pay)
2202 - Donatons Concerts
2203 - Donatons Personal
2204 - Donaton Corporate
2205 - Donatons Collectons
2206 - Grants - Army Sports Control Board
3331- Kneller Hall Club Subscriptons
3333- Kneller Hall Club Reunion
3334 - Kneller Hall Club Sales
3337 - Army Musicians Associaton Income (AMA)
3344 - DOMs Presentaton Fund
Donatons and legacies Totals
Income from charitable actvites
1161 - Benevolent Grants Return
2220 - Refund Welfare Grants
2230 - Welfare & Adventurous Training
3351 - Corps Journal Fanfare Subs
Income from charitable actvites Totals
Other trading actvites
3382 - Merchandise Sales
Other trading actvites Totals
Investments
4422 - Interest RBS SIBA
4424 - AFCIF BlackRock Dividends
Investments Totals
Other income
3346 – RCAM Enterprise
Other income totals
Income and endowments Grand totals|67,763
-
-
67,763
62,269
200
-
-
200
-
773
-
-
773
1,318
1,320
-
-
1,320
-
-
-
-
-
418
-
10,000
-
10,000
10,000
-
-
1,443
1,443
1,692
-
-
4,505
4,505
30
-
-
437
437
30
10
-
-
10
-
-
-
90
90
252|
||70,066
10,000
6,475
86,451
76,009
25
-
-
25
139
-
-
-
-
106
-
-
-
-
200
349
-
-
349
304|
||374
-
-
374
749
1,568
-
-
1,568
4,138|
||1,568
-
-
1,568
4,138
2,641
-
-
2,641
642
56,565
-
-
56,565
18,261|
||59,206
-
-
59,206
18,903|
||-
-
5,456
5,456
837|
||-
-
5,456
5,456
837|
||131,214
10,000
11,931
153,145
100,636|
|||
|Expenditure on:
Raising funds
3561 - Corps Journal Printng
3,979
-
-
3,979
-
4324 - Merchandise Expenditure
5,728
-
-
5,728
848
Raising funds Totals
9,707
-
-
9,707
848
For the period from 01 April 2023 to 31 March 2024|3,979
-
-
3,979
-
5,728
-
-
5,728
848|
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||General
Designated|Total
Restricted
As at
31 Mar 24
As at
31 Mar 23|
|---|---|---|
|Expenditure on charitable actvites
Grants for the beneft of individuals
1665 - Benevolent Grants
2512 - Training Courses
2662 - Welfare Grants
2663 - Welfare Elite Sports
2664 - Welfare Sports
2665 - Welfare ASCB
2666 - Welfare Grants Adventurous Training
2667 - Welfare Music
3313 - Anniversary Projects (RCAM 30)
3511 - RCAM Prizes
3515 - Ofcers' Sergeants' / HQ Messes
3567 - Ethos - Veterans
3568 - Ethos - Expenditure
4501 – Roots
4601 - Presentatons
Grants to other charites
4304 - Donatons to other Charites
Grant making support costs
4335 - Postage
4517 - Statonery
4562 - RCAM Trustees Meetng
4564 - RCAM Trustees Expenses
4586 - Computer & IT
4590 - Independent examinaton fees
4600 - Bookkeeping fees
4723 - Insurance Premiums
4724 - Bank Charges
Expenditure on charitable actvites Totals
Other expenditure
3532 – Kneller Hall Club Purchases
3536 – Kneller Hall Club Expenditure
3539 – Kneller Hall Clubnight
3544 – DOM’s Presentaton
4542 – Britsh Army Jazz Orchestra (BAJO)
4544 - RCAM Enterprise
Other expenditure Totals
Expenditure Grand totals|8,911
-
650
-
6,901
-
-
-
786
-
-
6,091
15,606
-
250
-
40,434
-
78
-
10,200
-
2,035
-
5,100
-
-
-
5,474
-|-
8,911
6,067
-
650
-
-
6,901
10,531
-
-
1,000
-
786
6,883
-
6,091
10,137
-
15,606
17,713
-
250
3,183
-
40,434
64,800
-
78
850
-
10,200
2,353
-
2,035
1,465
-
5,100
12,844
-
-
104
-
5,474
1,057|
||96,425
6,091
7,550
-|-
102,516
138,987
-
7,550
100|
||7,550
880
-
89
-
44
-
30
-
3,534
-
1,440
-
2,574
-
606
-
103
-|7,550
100
-
880
359
-
89
216
-
44
339
-
30
5
-
3,534
9,922
-
1,440
-
-
2,574
-
-
606
495
-
103
69|
||9,300
-|-
9,300
11,405|
||||
||113,275
6,091
-
-
-
-
-
-
-
-
-
-
-
-
-
-
122,982
6,091|-
119,366
114,425
1,877
1,877
174
50
50
-
9,720
9,720
549
210
210
-
579
579
-
3,957
3,957
4,195|
|||16,393
16,393
4,918|
|||16,393
145,466
156,257|
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