REGISTERED CHARITY NUMBER: 1104235
Report of the Trustees Ydnd
Unaudlted Flnancial Stfitements
rorthe Ye8r Ended 31 March 2024
for
The Royal Armoured Corps Memorlil Trust
Page I

The Royal Armoured Corps Memorial TNst
Contents of the Financial Statements
for the Year End¢d 31 March 2024
Page
Report of the Trustees
Independent Examiner's Report
Statem¢nt of Financial Activities
Balance Sheet
Notes to the financial Statements
9 to 14
Detailed Statement of Financial Activities
IS to 16
Page 2

The Royal Armoured Corps Memorial Trust
Report of the Trustees
for the Year Ended 31 March 2024
tNTRODUCTION
The 'frustees present their Report with the f]nancial statements of the Charity for the year ended 31 March 2024. The 'frnstees have
adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the U K and Republic of Ireland (FRS 102)
(effective l January 2015).
OBJECTIVES AND ACTIVITIES
ObJe¢tlves
'riie Trustees shall hold the Fund and its income upon trust to apply them for the following charitable objects:
a. The relief of pcrsons in ne¢d, hardship or distress who are either:
Serving or fornicr serving personnel of the Corps; OT
ii. The d¢pendants, wives, widows (whether remarried or not) or children of such persons.
b. To promole the ¢ffiLiency of the co￿s, bul not exclusively by encouraging rnilitary efficiency.
Activitles Employed to Achleve the Ch8rity's Objectives
The Trustees hold and mana&ve the Fund upon trust for the following VACtivities.'
a. Maintaining a M¢morial insid¢ The Tank Museum, exhibiting for public benefit and contemplation the Roll of Hunour Books
recording the names of all regular and reservist mernbers of the Royal Amoured Corps who have died in service sin¢e its
fonnation in 1939.
b. Maintaining the Memorial Wall of Remembrance at the Tank Museum presenting for public benefit and conteinplation the names
of all regular ¢iiid r¢s¢rvist members of the Royal Arnioured Corps who have died on active service since the end of the Second
World War in 1945.
Promoting the RAC Memorial Trust's work as an effective living m¢morial that provides public benefit.
d. Assistingy Ihose who claim to have served in an IIAC unit and have diffiLulty establishing claim to a RAC Regimental Fund.
AssistingF ihose who claim to have served in a disbanded Second World War RAC Regiment, the Reconnaissance Corps or served
in several RAC Regiments.
Couperating and working in conjunction with other RAC, Regimental and bcnevolcnt institutions both military and Civilian.
g. Offering tm Educalion Schemc for the education of children of all ranks in full-liin¢ or tertiary education.
Making byrants to any charity or charilable fund or charitable institution (military QT civil) existing or hereafter established which in
the opinion of the Managing Trustees directly or indirectly benefils the persons referred to in our objects.
Regularly reviewing our vision, aims, obj¢ctlV¢5 and activitie5 when fonn ing any plans and budgels.
Ilcviewing Charity Commission guidance on public benefit against the setting of our plans to ensur¢ it will deliver public benefit
and contribute to our objectiV¢S.
k. Ensuring we are qualified and properly equipped to meet our objectives.
Recruiting and selection of Trustees by Board Mernbers. Potential truste¢s are interviewed and briefed by the Chaiman b¢fore
being proposed io the board for final approval.
Maii)taining an annual declaratiun and register of Trustee interests.
Li8igin8 Wlth other military and civilian welfare agencies such as SSAFA, RBL and the ABF (the Soldiers, Charity) Trade Unions
and Government agencies.
Reviewing the fonnal financial Management and Investment of our Capital Investments, to g¢nerate enough income for uy to meet
our objectives. Our income from investinent for this year was £36,000.
p. The "frustees confirni that they have complied with the duty in Section 17(5) of the 2011 Charities Act to have due regard to the
guidance ¢ontain¢d in the Charity Commission's general guidance on public benefjt when r¢vi¢wing the Trust's (iims and
objectives.
Page I

The Royal Arnioured Corps Memorial Trugt
Report of the Trustees
for the Year Ended 31 Mareh 2024
ACH[EVEl￿ENT AND PERFORMANCE
Charilable activitie5
W¢ continue to offer immediate financial assistance to the lamilies of those killed on operalions and to those seriously injured on
operations. though fortunately no applications wcre received th?s year.
b. All fornier serving and current members of RAC, regular and reserves and their families benefit from our support, provided their
regim¢nt, if they have one, has supported them. The number of applications this year remained the same as the previous year at 37,
however the total sum request¢d was down by aboui £10,000 to £75,728. The Trnst granted a total surn of £15,214 which continues
to repTes¢nt 200/0 of the rcqu¢sted £75,727 that we know of for welfare benevolencc grants. Regiments provided £22.015 (290/0)
and the major service donor charities provided the remaining 510/0. The number of grants awarded to individuals withoui a
regiment increased from 6 to 9 this year.
We supported one military etficiency expedition with £l.000, which may reflect the limited amount of adventur¢ training being
und¢rtaken in the present military circumstances. We want our grants to make a difference so that serving members of RAC are
better prepar¢d physically and mentally for operations. The Trustees do not support applications from Headquarters organisalions
for activilies which should be funded through central MOD funds.
d, We met twice as a bo<ird during the year, but incr¢asingly we conduct business electronically.
Our investtnent manag¢menl costs have reduced io £5,362 froin £6,993 in the previous y¢ar.
We have designed and constructed a new Memorial Room in the Tank Museum to house our 4 Roll of Honour books in a
more appropriate manner and to educate the general public in words and videos the scale of sacrifice made by members of the
Corps over the years sinc¢ its fonnation. This wa5 completed on time and to budget (£300,000). It was opened by our Patron, HRH
ThL Dukc of Kent, in May 2023.
'rhe 'l'rust has now digitised the Roll of Honour. which has been made available to family m¢mbers. researchers and the gcneral
public on a new touch screen facility mounted within the Meniorial Room. This reduces the need to handle th¢ aLtual Books of
Rem¢mbrancc, which are now contained in hem¢tically seal¢d cabinets to protect their fabric. This digital facility provides a direct
link to the Commonwealth War Graves Commission site, lo allow ftunily members and others the ability to view wherc individuals
on the Roll of Honour are buried or commemoraled,
h. We have now creuted web pages promoting the work of the Trust, which are contained within both The Tank Museum's and the
Royal Arinoured Corps, rnain web sites. This includes a search facility for the digilised Roll of Honour, again with a direct link to
the CWG'C website. The pagyes also include advice on how potential applicants can access ben¢volcnLe and military e￿]cIencY
griints. During the first year over 3.500 individual users had accessed these web pa&Fes with almost 23.000 individual page views.
The Memorial Wall at the Tank Museum continues to remind the public of Ihe sacrifice made by RAC Personnel killed on
operations since 1945.
We continue to award grants to the parish church of Wool, Dorset for the upkeep of RAC graves.
k. We coiitinue to support the Annual National Field of Remembrance Event in Westminster.
We continue to be members of Inforniation Commissioner8 Oftice, COBSEO and the FundrpAising Regulator.
m. Saf¢guardinb, Health. and Saf¢ty reporting and r¢viewing conflicts of interest are p¢miancnt items on the Board's Agenda and no
incid¢iits have bcen reported.
FINANCIAL REVIEW
Flnanclal posltion
The fiiiancial position of the Charity at the balance sheet date was secure. The assets of the Charity are held for the generation of further
income. They consist principally of investments which are shown in the accounts at market value.
Trustee's power of investment
The Trustees have delegated the discretionary management of the investment funds to JM Finn. The Tn￿teeS have agreed to retain
their services for a further year.
b. Th¢ Investment Managers shall invest all property and funds not lawfully applicable as current income of the Charity and all
property and Funds applicabl¢ as income which in the opinion of the Investment Managers are not presenlly required for
applications.
Primary Investment Objective: The Trnstees have mandated an income flow of £36,000 per year from the portfolio for the FY
23124. The Trustee5 have amended this figure to £30,000 for the nexi financial year.
d. Secondary Investment Objective: L,ong terni balance of capital and incom¢ growth and outperforniing the agreed benchmark.
Payment of total rcturn5 incoine is monthly in arrears.
Rcserve's policy
Trustees, policy is to maintain throughout the year unrestricted funds of approx. £30,000 in a cash account with J M Finn. JM Finn
have confinned to retain this sum in an iT]Stant access investhlttnt portfolio. The current and deposit cash accounts at the end of March
2024 show cash holdings of over £25.000. This equates to approximately 12 months unrestricted expenditure to cover manageinent and
administration and support costs. In line with ih¢ Truste¢s' decision, this sum will b¢ drawn down to £10,000 OV¢T the course of the
next financial year by funding the budgeted shortfall in expected income over expenditure. In an emergency Trust¢es plan to fall back
on the capilal sum.
Page 2

The Roya] Arn)oured Corps Memorial Trust
Report of the Trustee5
for the Year Ended 31 March 2024
CURREiYf AND FUTURE ACTIVITIES AND PLANS
Our staff continue to work hard at improving the management and accountability of our welfare benevolence grant system, to make it
simple and accessible for applicants. The obtainment of a verification of service (VOS) lo confirni the applicant was a genuine member
of the corps, still takes time, though we appreciate MOD does all it can to r¢duce th¢ time taken.
We share with The Tank Museum common charitable objectives and requirements laid out in ECAB Paper IP (98)6 dated 25 June
1998. We have an MOU with the Tank Mu%eum which is in both party's equal mumal interest. The objectives are to:
Preserve, house. and maintain a pernian¢nt record of those who have lost their lives whilst in the service of the RAC since its
formation in 1939 (currently contained in four Books of Remembrance).. "RAC Roll of Honour"
b. t¥ovide and maintain a public memorial to those who have lost their lives on active scrvice from the BAC since 1945.. "RAC
Memorial Wall"
Educate the publi¢ in the sacrifice and suffering made by members of RAC and their dependants.
d. Promote public recognilion of the record of sacrifice of those who have served in th¢ RAC.
Provide a focus for remembrance for families, relatives, and fri¢nds of those who have suffered in the servTce of the RAC.
f. Promote the charitable objeLtives of both Parties, particularly those relating to the edu¢atkon of the public, (the Museum),
benevolence and promoting the efficiency of the RAC (the Trust).
g. Encourage further charitable donations to both Parties.
The MOU timeframe for partnership activities is coincident with the Tank Museum Ministry of Defence Lease, providing us with the
security of tenure for our investment in the new indoor Memorial and to continue maintaining the external Memorial wall. In addition,
the Tank Museum also provides resources on their website by hosting content pages promoting our work as well as providing a digital
version of the Roll of Honour including & search facility.
The new Memorial inside The Tank Museum has been well received by veterdns, the general public and Tank Mus¢um staff during its
first year. a5 evidenced by a survey qu¢stionnaire Completed by members of the public for the Tank Museum. Their responses
demonstrate that it clearly provides, in a contrasting space to the other Tank Muscum exhibitions, a meinorial that draws in visitors,
offering them an opportuiiity to reflect upon and contemplate the sacrifice made by those 12,600+ members of the RAC whose names
are recorded in the four Books of Remembrance. To help visitors grasp the suffering involved, a continuous loop video relates five very
personal accounts of individual losses and their effect upon their farnilies. A total of £300.000 was withdrawn over two years trom
capital to create this new Memorial. In addition. trustees added valu¢ of over £100,000 to th¢ project by contributing over 200 days of
voluntary work, based on HLF protessional volunteer time.
The Trustees continue to consider future improvements including how best we can..
Research and PTomote other stories behind the names in the Roll of Honour Books.
b. Digitise the RAC Battle Casualty cards held in the Tank Museum archives, to make them accessible to all.
Better promot¢ and develop a web presence on our work to ensure the memory of those in the Roll of Honour Books is kept alive.
This may include cooperating with The Tank Museum to produce short YouTube videos rerounting individual storylines, with the
emphasis on'we will Remember Them"
Rrbuild vtspilul ball￿￿0 uftor a Jignifietsnt proj¢¢t exp¢ndituro ott the Memorial Room (Tot&l cogt nf project £300k)-
During this year. in line with many MOD establishments having to scale back their output. HHQ RTR announced that it intended to
withdraw its support for the administration of the T'Nst, includtng all secretarial, accounting, benevolence and military efficiency
responsibilities. HQ RAC has otlered an S03 rnember of staff to assist with the secretarial role. In the short tern] the Chairnian of
Trustees has adopted ihe accounting and grant giving roles, subject to a more pernianent arrangement being put in place during th¢ next
financial year. Inevitably, the loss of HHQ RTR'S long-standing support will impact on the level of benevolcnce and military efficiency
funding that the 'frust Gan offer going forward. Alternative operational systems are currently und¢r consideration, including further
discussions with HQ RAC and The Tank Museum. Trustees are also willingly shouldering more of the burden of the general
administration. Thi5 remains a fluid situation, which th¢ Trustees int¢nd to resolv¢ over th¢ next 12 months.
The threats and risks facing the charity are continually under review and we continuously evaluate our current work to improve how we
can best serve our beneficiaries.
Th¢ value of our investments increased by 2.53 % during the year from opening to closing. Our investm¢nt managers are confident they
will meet our mandated target of £30,000 for FY 202412025.
Page 3

The Royal Arn)oured Corps Memorial Trust
R¢port of the Trustees
rorthe Year Ended 31 Mareh 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing DoeumenL The Charity is controlled by it5 governing document, a Deed of Trust, and constitutes an unincorpornted
Charity. The Charity is called th¢ Royal Annoured Corps Meinorial Trust (KACMI") regulated by a governing document dated 25
September 2018.
Recruitmenl and Appointment of New Trustees. The recNitment of Trnstees 15 th¢ r¢sponsibility of Board Members. Before being
fomierly proposed to the Board pot¢ntial trustees are interviewed and briefed by the Chainnan.
Organisation
The Charity operates for the benefit of all serving and ex-serving RAC members and their dependants helping them in times of
need and hardship.
b. The major in year activity has been the opening of the new internal M¢morial in the Tank Museum and the ¢ontinuing
dev¢lopment ot the web pages.
The MOD currently provides premises for Th¢ Charity
Meetlngs. The Trustees met physically twice in the year and conduct an increasing amount of business electronically.
Staff. The Chairnian currently volunteers as a chief executive with an S03 from HQ RAC acting as secretary, ably supported by a
privately lunded Finance officer. A CMS qualitied approved volunteer has generously managed our welfare support syslem up until
this year, but the Chaimian will take ovcr this role temporarily as from l April 2024. Ihe salary aiid office cosls have been shared with
RTR on the ratio RTR 900/0 RACMT IOO/•. This arrangement has now come io an end as @ 31 March 2024.
Risk ManagemenL The Tru5te¢s actively review the major risks which the Charity faces on a regular basis and believe that
maintaining reserves at currenl. levels, combined wtth an annual review of the controls over key tinancial systems, will provide enough
resources in the event of adverse condition5. The Trustees have also examined other operational and business risks faced by the Charity
and confirni that they have established systems to mitigate the Si&Tnificant risks.
Preml$es. The Charity has been mosi grateful to the Ministy of Defence for the provision of office space for our staff in Home HQ
R'FR. This has now bccn withdrawn as froin 31 March 2024. Alt¢rnative arrangements are currently under review, with the support of
HQ RAL and Tlie 'fank Museum. Thc Trust's historical and finaiicial archives remaiii housed at HHQ R TR for thc foreseeable future,
to meet statutory requirements. Assets are available and adequate in respect of all funds ot the Charity lo enable it to fulfil its
obligations. MOD still provides uther s¢rvices and space for The Memorial Room and Wall at'The Tank Museum, cnabling us to carry
out our objectives. Assets are available and adequate in respect of all funds of the Charity to enable it to fulfil its obligation5.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Cbarlty number
1104235
Prineipal address
HQ RAC
Allenby Barracks
Bovington
War¢ham
Dorset
BH20 6JA
Page 4

Th¢ Royal Annoured Corps Memorial Trust
Report of the Trustees
for the Year Ended 31 March 2024
Trustees
Mr J H E Colton
Brigadier (Retd) D Allfr¢y MBE FRGS
Major General S J M Graham CB VR
Mrs P G LorLgman
Major (Retd) J J Macnamara CStJ TD VR JP DL FCA
Mr M D Powell
Colonel (Retd) D Swann CBE
Brigadier (Retd) S J B White MBE
Chainnan
Appointed 01 .01.2022
Appointed 05.07.2023
Appoinled 07.04.2019
Appoint¢d 07.04.2019
Appointed 01.03.2000
Appointed 01.08.2018
Appoinled 18.04.2023
Appointed 08.11.2019
Mr J Walsh
Appoinled 05.05.2020
Resigned 07.02.2024
Appointed 18.04.2023
Resigned 31.10.2023
Appoinled 01.09.2016
Resigned 05.07.2023
Mr Richard Smith OBE
Lolonel (Retd) J Woodward MBE
Approved by order ofthe board of trustees on
and sign¢d on its behalt by:
Trustee -
Date -
Trustee -
Name-
Date -
Page 5

Independent ExYdmlner'$ Report to the Trustees of
The Roygl Armoured Corps Memori91 Trust
Independent examiner's report to the trustees of The Royal Armoured Corp5 Memorial Trust
I report to the charity trustees on my exainination of the accounts of The Royal Armoured Corps Memorial Trust (the Trust) for the
year ended 31 March 2024.
R¢sponqibilities and b2sls of report
A5 the chai'ity trustees of ihe Trust YOU are responsible for the preparation of the accounts in accordance with the requirements of
th¢ Charities A¢t 2011 {'the Act,).
report in respect of my examination of thc Trust'8 accounts carried out under section 145 of the Act and in cai'rying out my
examination I have lollowed illl applicable Directions given by the c.harity Commission under section 145(5)(b) of the Act.
Independent examiner's stat¢ment
I have completed my examination. I confirm that no material matters have come to my attention in connection with the
examination giving me cause to believe that in any material I'esp¢¢t'.
a¢¢ounting I'ecords wei-¢ not kept in I'espect of the Trust as required by s¢ction 130 of the Act. or
the accounis do not aLcord with those records. or
the accounls do not comply with the applicable requirements concerning the forni and conient of accounts set out in the C,harilies
(Accounts and Reports) Regulatioiis 2008 other than any requirement that the a¢¢ounts give a truc and fair vicw which is not a
matter considered as part of an independent examination.
I have no concems and have come across no other matters in connection with the examination to which attention should b¢ drawn
in this report in ol'der to enable a proper understanding of the accounts to be reached.
J A Ricliardson
FCA FC.C.A DChA
32 Award Road
Wimborne
Doi'set
BF1217NT
Date,,
Page 6

The Royal Armoured Corps Memorial 'l'rust
Statement of Financial Activities for
the Year Ended 31 March 2024
2024
2023
Total
funds
Total
funds
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
1,672
2,114
Investment income & Interest
36,159
37,373
Total
37.831
39. 487
EXPENDITURE ON
Raising tunds
11,332
11.821
ChY4rltabl¢ octlvlties
General funds
16,923
326,717
Other
2,180
2,080
Total
30.435
340.618
N¢t (losses)/gains on investments
25,494
(170,064)
NET INCOME I (EXPENDITURE)
32,890
(471,195)
RECONCILIATION OF FUNDS
Tolal funds brought forward
950,538
1,421,733
983,4211
950,538
TOTAL FUNDS CARRIED FORWARD
The notes fomi part ofthese financial statements
Pag¢ 7

Th¢ Royydl Armoured Corps Memorial Trust
B#l2nee Sheet
31 March 2024
2024
Unrestricted
funds
2023
'rotal
funds
Notes
FJXED ASSETS
Investments
959.765
935.508
C.URRENT ASSETS
Cash at bank
27.825
17.185
CREDITORS
Amounts falling due within one year
{4,163)
(2.155)
23,662
15. 030
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
983,428
951),538
IYET ASSEI'S
983.428
950,538
983.428
950,538
FIINDS
Uni'LstriGted funds
'roTAL FUNDS
983,428
950,538
The financial statcmeiits were approved by the Board of Trustees and authorised for issue on .
signed on its beha
. and were
Trustee -
Date -
Trustee-
Name-..
Date -
The notes form part of these financial statements
Page 8

The Royal Armoured Corps MemoriAI Trust
Iyotes to Ihe Financial Statements
for the Year Ended 31 Mareh 2024
ACCOUNTING POLICIES
Basis of preparing the financial staternents
The financial slatements of the charity, which is a public benefit entity under FRS 102. have been prepared in accordance
with the Charities SORP (FRS 102) 'Ac¢ounting and Reporting by Charities: Statement of Recommended Practice applicable
to charities preparing their a¢¢ounts in accordance with the Financial Reporting Standard applicable in the UK and Republi
of Ireland IFRS 102) (effective l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard
applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under
the historical cost convention, with the exception of investments which are included at market value, as modified by the
revaluation of certain assets.
Donations
Dondtions are included within the financial statements as 500n as the income is received
LegAcie$
Lega¢ies arc included in the financial ?itatements when the conditions for receipt have been met.
Granls recelvable
Grants are accounted for in the ststement of financial activities on an accrual basis. Grant income received in advance is
shown as deferred in¢oin¢.
Investment Income
I'he C.harity's investments are managed by JM Finn & Co. Investment income received is rcmitted by the fund managers to
the ChI￿lIY quarterly in arr¢ars.
Dlrect charitAbl¢ expendlture
Direct charitiible expenditure includes all expenditure directly related to aims of the Charity. Expenditure is accounted for
wheii payable.
Management and admlnlgtratlon of the ChAri*y
Management and administralion costs represent expenditure incurred in the management and administration of the Charity's
assets, organisational administralion and compliance with constitutional and 8tatutory requirements.
Grants payable are accounted foi. on an accruals basis and are made at the dis¢rdion of the Trustees.
Taxation
ThL charity is exeinpt from tax on its charitable activities.
Fund accountlng
The charity maintains the following types of fund:
Unr¢$tricted funds
Gen¢ral unr¥strictcd funds represent funds which ar¢ expendable at the discretion of the Trustees in the furtherance of the
object5 of the Charity.
Pension costs and other post-retlrement beneflts
The charity operates a defined ¢ontribution pension scheme. Contributions payable to the charity's pen8ion scheme are
charged to the Statement of Financial Activities in the period to which they relate.
Page 9
continued..-

The Royal Armoured Corps Memorial Trust
Notes to the Financial Ststements- eontinued
for tbe Year Ended 31 March 2024
ACCOUNTING POLICIES- continued
Debtors and prepayments
Debtors and prepaymcnts are recognised at the transaction price where an entity has a present obligation r¢5ulting from a past
event that will probably result in the transfer of fibnds from a third party to the charity and the amount due to settle the
obligation can be measured or estimated reliably.
Creditors and provlslons
Creditors ¢ind provisions are recognised where the charity has a present obligation resulting from a past eveT]t that will
probably result in the transfer of funds to a third party and the amount due to settle the obligJation can be measured or estimated
reliably. Creditors and provision5 are normally r¢¢ognised at their transaction prity¢ after allowing for any trade dis¥ouiits duc.
Cash at Bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of 95 days or less from
the date of acquisition or opening of the deposit or similiir account.
Fixed assets
It 15 the policy of the I'rust¢es not to capitalise fixed assets in the balance sheet under £1,000 of Cost and to write off the
cosl of fixed assets purchased in the year through the Statement of Financial Activity. fixed assets con%ist primarily of
ompuler equipment which in the view of the "frust¢es soon becomes obsolete and are shared by all the C.harilies undoi.
common administration. No fixed assets were purchased in the year ended 31 March 2022.
Investments held as Flxed Assets
In ordcr to comply wilh the slatement of Recommended Practice Accounting and Reportin¥ by Charities" investments
held as fixed assets are stated at market value and realised and unreali5ed ¥ains and losse.s are shown in the Appropriate section
of the Statement of Pinancial Activities.
INVESTMENT IIYCOME & INTEREST
2024
2023
Dividend Income
36,000
36,000
Deposit Account Interest
Other Investment Income
159
33
1,340
36,139
Page 10
continued,..

The Royal Armoured Corps Memorial Trust
Notes to the Financial Slatements - contlDued
For the Year Ended 31 Mareh 2024
RAISING FUNDS
Raising donations and legacies
2024
2023
Management Support Costs (see note 5)
5,885
4,743
CHARtTABLE EXPENDITURE
2024
2022
Grants payable
Other charilable expenditure
15.214
325.849
1.709
868
16,923
326.717
Grants to Individuals
15,214
25,849
Grants to Institsjtions
The Tank Museum
300.000
15.214
325,849
In the year to 31 March 2023 £300.000 was paid as a grant to The Tank Museum for refurbishment of the Memorial Room.
SUPPORT COSTS
Management
Other
Tota15
Raising donations and legacies
5,883
8J
5,970
Investment managem¢nt costs
5,362
5,362
Other re50ur¢es expended
2,180
2,180
5,885
7,627
13,512
During the year to 31 March 2024 an amount of £2,180 {2023: £2,080) was paid to the independent examin¢r. These are
included in support costs tor the year.
During the year to 3 1st March 2024 investment manag¢ment costs totslling £5.362 were paid (2023: £6,993).
TRUSTEES, REMUNERATION AND BENEFJTS
There were no trustees, remuneration or other benefits for the year ended 31 Mar¢b2024 nor for the year ended
31 March 2023.
Pagell
continued...

The Roy&il Armoured Corp$ Memorial Trnst
Notes to the Financial Statements- eontinued
for the Year Ended 31 Mareh 2024
TRUSTEES, REMUNERATtON AND BENEFITS- contlnued
Trustees, expenses
Trustees r¢¢eived expenses for meeting costs during the year ended 31 March 2024 totalling £Nil {2023'. £247), Trustee
Indemnity Insurance is included in total insurance costs of £727 {2023: £727).
STAFF COSTS
2024
2023
Wages and salaries
Other pension costs
3,085
119
2,856
195
3,204
3,051
Ainounts in¢ludcd within staff costs are a pei'centage attributed of the total costs split between the wider
charity consortium. No employees received cmoluments in excess of £60,000.
The averag¢ monthly number of employees during the year was as follows:
2024
2023
Head Count
FIXFD ASSET INVESTMENTS
Listed
Investments
MARKET VALUE
At l April 2023
Additions
935,508
245,SIO
Disposals
Revaluations
(292,624)
71,371
As at 31 MaTch 2024
959,765
NET BOOK V ALUE
At 31 March 2024
959,765
At 31 March 2023
935.508
There wer¢ no investment assets outside the UK.
The full value disclosed as fixed asset investments at the year end are held as listed investments. Any cash balances held in
the portfolio valuation at the reporting date are in¢luded as Cash in these financial statements. C&8h held in the portfolio at
the year end was £2,455 (2023.. £6.724).
Page 12
continued...

The Royal Armoured Corps Memorial Trust
Notes to the Finydneial Statements- continued
for the Year Ended 31 March 2024
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Other creditors
4,163
2,155
4,163
2,155
io.
MOVEMENT IN FUNDS
At
1,4.23
Nel movement
in funds
Transfers
between funds
At
31.3.24
Unrestricted funds
General tund
950.538
32.890
983,428
TOTAL FUNDS
950,538
32,890
983,428
Net movement in funds, included in the above are as follows:
Incoming
resources
Resour¢¢s
expended
Gains and
losses
Movement in
funds
Unrestricted funds
General fund
37,831
30,435
25,494
32,890
TOTAL FUNDS
37,831
30,435
25,494
32,890
Comparatives for movement In funds
Net
Movement
in funds
At
1.4.22
At
31.3.23
Unrestricted funds
General fund
1,421.733
(471,195)
950.538
TOTAL fuNDS
1,421,733
(471,195}
950,538
Comparalive net movement in funds, included in th¢ above are as follows..
Incoming
resources
Resources
exp¢nded
Gains and
losses
Movement in
fund5
Unrestricted funds
¢neral fund
39,239
340,370
(170,064)
(471,195)
TOTAL FUNDS
39,239
340,370
(170,064)
(471,195)
Page 13

The Royal Armoured Corps Memorial Trust
Notes to the Financiydl Srtatements - eontinued
for the Year Ended 31 Marcb 2024
ii.
RF.LATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024 (2023 - £nil).
Page 14

The Royal Armoured Corps Memorial Trust
Detailed Statement of Fin*nelAI Aetivities
For the Year Ended 31 March 2024
2024
2023
tNCOME AND ENDOWMENTS
Donations and lebyacies
Donations
,672
2.114
Envestment income & Interest
Dividend income
36.000
36,000
Deposit account interest
Other investment income
159
33
1,340
36.159
37,373
Total incoming resource5
37,831
39.487
EXPENDITURE
Charitable activities
Military Efficiency, Wreaths and Memorials
Grants payable
1,709
868
R5,214
325,849
16,()23
326,717
Support cosls
Management
Wages and national insur1￿¢¢
Pensions
3,085
119
2,856
195
Insurance
727
727
Office and computer repairs
Postage and Stationery
1,765
47
208
SILndri¢$
38
Bookkeeping
Committ¢¢ expenses
49
104
708
5,885
4,743
Other
Accountancy
Portfolio fees
2,180
2,080
5.362
6,993
Subscriptions
85
85
7,627
9,158
Total resources expended
Net {expenditure) l income before gains and losses
7,396
This page does nol fomi part of the statutory financial statements
30.435
340,618
(301,131)
Page 15

The Royal Armoured Corps Memorial Trust
Detailed Stitement of Flnaneial Actlvitles
For tb¢ YeAr Ellded 31 MNrch 2024
2024
2023
Realised rc¢o¥nAzed gains and losses
Realised gains 1(losses) on fixed asset investm¢nts
N¢t lexpenditur¢) l income
25,494
(170,064}
32.890
(471,195)
This page does not forni part of the statutory financial statem¢nts
Page 16