Charity registration number 1113553 (England and Wales) 101 (CITY OF LONDON) ENGINEER REGIMENT (RICHMOND HILL) CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
101 (CITY OF LONDON) ENGINEER REGIMENT (RICHMOND HILL) CHARITABLE TRUST LEGALAND ADMINISTRATIVE INFORMATION Trustees Lt Col Retd M J Heffer TD RE (Chair) Lt Col D A White RE Col R B H Hawkins MBE ADC Major E Mukhtar MBE RE W01 (RSM) M W Gawne RE Capt Retd S Clubley RE (Appointed 1 July 2024) {Appointed 18 January 2025) Charlty number 1113553 Principal address Army Reserve Centre Hudson House Bromley Road London SE6 2RH Independent examiner Stuart Faed BS¢ (Hons) CA DipPFS 17 Walkergate Berwick-upon-Tweed Northumberland TD15 1DJ Bankers The Co-operative Bank plc Investment advisors Sarasin & Partners LLP Juxon House 100 St. Paul's Churchyard London EC4M 8BU BlackRock Investment Management (UK) Limited 12 Throgmorton Avenue London EC2N 2DL
101 (CITY OF LONDON) ENGINEER REGIMENT (RICHMOND HILL) CHARITABLE TRUST CONTENTS Page Trustees, report Independent examinerfs report Statement of financial acAivslies Balance sheet Notes to the financial statements 7-11
101 (CITY OF LONDON) ENGINEER REGIMENT (RICHMOND HILL) CHARITABLE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 The trustees present their report and accounts for 101 (City of London) Engineer Regiment (Richmond Hilt) Charitable Trust (the Charity) for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in nole 1 to the financial statements and comply with the Charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP 'Accounting and Reporting by Charilies.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" Objectlves and activities The Charily's objects are-_ To promote the efficiency of the Regiment, or any SUCsS0r unit in such charitable ways as the trustees may decide., To make grants to any regimenlal charity or to any other charity or charitable organisation for the benefit of the Regiment, or any successor unit., To make grants to any member or former member of the Regiment, or of any successor unit who is in need. hardship or distress. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake. Achievements and perforn]ance During the year the Charity has continued to support current and former members of the Regiment and their families and dependents in accordan with the aims and objectives set out above, through requested grant payments made to the 101 Engineer Regiment. It is anticipated that these activilies will continue for the foreseeable future. The trustees will continue to monilor the prevailing economic climate and its potential impacts on relevant serving personnel and veterans, finances and wellbeing. An increase in applications for benevolence support is an ongoing possibility. The performance of the investment funds has fluctuated. due to geopolitical reactions to world trade economics, with the value of listed investments decreasing by £37,191 (2024: £115,795 increase) and broadly reflects the global stock market performance over the period which is now starting to show signs of recovery. Therefore, the trustees strongly believe this will allow the Charity to conlinue to meet the current calls on the funds. Public benefit In considering the operation, achievements and performance and finances of the Charity, the trustees are satisfied that public benefit has been provided in accordan wilh the Charities Act 2011 and the guidance provided by the Charity Commission. Financial review The financial results are shown on pages 5 - 11 of the accounts for the year. The Statement of Financial Activities recorded a surplus (after investment revaluations) of £5,742 for the year (2024.. £132.861 surplus}. The net assets of the General Funds at 31 March 2025 were £2,573,261 (2024.. £2.567.519). The market value of the investments at 31 March 2025 was £2.404,312 (2024: £2,441,503). Grant making policy Grants are rnade in accordance with the Charity's objectives, as set out above. Each application is considered on its merits.
101 (CITY OF LONDON) ENGINEER REGIMENT (RICHMOND HILL) CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Reserves All the Charity's funds are available to meet the charitable objectives set out above. The trustees review the resetves of the Charity annually and consider the nature and adequa of Ihe income and expenditure streams and have concluded that the reserves are sufficient to allow the Charity to continue to meet its objectives. Investment policy Investments are professionally managed by Sarasin & Partners LLP and BlackRock Investment Management (UK) Limited, who continue to act on a discretionary basis. The investment objectives are to achieve a balance of income and capital growth with an emphasis on income, assuming a medium risk profile. Rlsk review The trustees have assessed the major risks to which the Charity is exposed. and are satisfied that systems are in pla to mitigate exposure to the major risks. Structure, governance and management The Charity was established by a charitable Trust Deed dated 4 April 2006 as amended 15 January 2015. The trustees who served during the year and up to the date of signature of the financial statements were.. Maj Gen A M G Smylh QVRM TD DL (Deceased 3 January 2025) Lt Col Retd M J HefferTD RE (Chair) Lt Col DA White RE Col R B H Hawkins MBE ADC Major E Mukhtar MBE RE W01 {RSM) C A Stewart RE W01 {RSM) M W Gawne RE Capt Retd S Clubley RE (Resigned 30 June 2024) (Appointed 1 July 2024) (Appointed 18 January 2025) Trustees are selected to ensure that they have the best inlerests of the Regiment al heart bul remain a balanced group able to advise on the best means of achieving the objectives of the Charity. The Charity's affairs are under the control of the Irustees who are responsible for all transactions and matters relating to the Charity. The minimum number of trustees is six: 3 ex-officio trustees and 3 co-opted trustees. The ex officio trustees will i) the Commanding Officer for the time being., ii) the Regimental Second-in-command for the time being- and iii) the Regimental Sergeant Major for the time being. Ex-officio trustees are appointed by virtue of their posts- general trustees are co-opted by serving trustees. In selecting individuals for appointment as trustees, the trustees must have regard to the skills, knowledge and experience needed for the effective administration of the Charity. New trustees are also given a copy of the Trust Deed, the latest report and accounts and all the Charilvs documents on governance. Subject to their experience and expertise, they are also given pamphlets issued by the Charity Commission explaining the duties of Trustees of Charities and offered training in any area of their duties which they Ihink they would like strengthening.
101 (CITY OF LONDON) ENGINEER REGIMENT (RICHMOND HILL) CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Statement of trustees. responsibilities The trustees are responsible for preparing the Trustees, Report and the accounts in accordance wilh applicable law and United Kingdom Accounting Standards (United Kingdom Generally Apted Accounting Practice). The law applicable to tharities in England and Wales requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that year. In preparing these accounts, the trustees are required to: select suitable accounting policies and then apply them consistently- observe the methods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudent., state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts,. and prepare the accounts on the going concem basis unless it is inappropriate to presume that the Charity will continue in operation. The trustees are responsible for keeping suffirienl accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the accounts comply with the Charities Act 2011. the Charity (Accounts and Reports} Regulations 2008 and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the Charity and hen for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees, report was approved by the Board of Trustees. Lt Col Reld M J Heffer TD RE (Chair) Trustee 15 September 2025
101 (CITY OF LONDON) ENGINEER REGIMENT (RICHMOND HILL) CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF 101 (CITY OF LONDON) ENGINEER REGIMENT (RICHMOND HILL) CHARITABLE TRUST I report to the trustees on my examination of the accounts of the Charity for the year ended 31 March 2025. Responsibilities and basTS of report As the trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Acl 2011 {'the Act,). I report in respect of my examinalion of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the Act. Independent examinerfs statement 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 respect: accounting records were not kept in respect of the Charity as required by section 130 of the Act. or the accounts do not accord with those records.. or Ihe accounts do not comply with the applicable requirements conmIng the form and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts 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 which attention shou drawn in this report in order to enable a proper understanding of the accounts to be reached. Stuart ae Bsc (Hons) CA DipPFS er ate Beick-up0n-TWeed Northumberland TD15 1DJ Dated: 15 September 2025
101 (CITY OF LONDON) ENGINEER REGIMENT (RICHMOND HILL) CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestrscted funds 2025 Total 2024 Notes Income from: Investments 82,364 79.922 enditure on: Charitable activities 39,431 62,856 Net gainsl(losses) on investments (37.191) 115,795 Net movement in funds 5,742 132,861 Fund balances at 1 April 2024 2.567.519 2.434.658 Fund balances at 31 March 2025 2,573,261 2,567,519 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
101 (CITY OF LONDON) ENGINEER REGIMENT (RICHMOND HILL) CHARITABLE TRUST BALANCE SHEET ASAT31 MARCH 2025 2025 2024 Notes Flxed assets Investments 11 2,404,312 2,441,503 Current assets Cash at bank and in hand 170,281 127.306 Creditors: amounts falling due within one year 12 (1,332) (1,290) Net current assets 168.949 126,016 Totsl assets less current liabilities 2,573,261 2,567,519 The funds of the Charity Unrestricted funds 2.573,261 2,567,519 2.573.261 2,567.519 The financial statements were approved by the Irustees on 15 September 2025 Lt Col Retd M J HefferTD RE (Chair) Trustee Capl eld Clubley RE
101 (CITY OF LONDON) ENGINEER REGIMENT (RICHMOND HILL) CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Charity infomiation 101 {Cily of London) Engineer Regiment (the Charity) is an unincorporated charity established by a Trust Deed, registered with the Charity Commission, number 1113553. 1.1 Accounting convention The financial statements have been prepared in accordan with the Charity's goveming document, the Charities Act 2011, FRS 102 Yhe Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "AGcounling and Reporting by Charities= Statement of Recommended Practi applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" The Charity is a Public Benefit Entity as defined by FRS 102. The Charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows. The financial statements are prepared in Sterling, which is the functional currency of the Charity. Monetary amounts in these financial stalemenls are rounded to the nearest £. The accounts have been prepared under the historical cost convention. modified to include the revaluation of fixed asset investments and certain financial instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial stalements, the truslees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the truslees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. 1.4 Incoming resources Income is recognised when the Charity is legally entitled to it after any perf0mlan conditions have been met, the amounts can be measured reliably. and it is probable that incorne will be received. Investment income comprises dividends re1vable during the year on listed investmenls held within the investment portfolio as well as interest receivable. 1.5 Resources expended All expenditure is accounted for on an accruals basis. Costs are allocated to appropriate headings, based on the activities to which they are attributable. 1.6 Fixed asset Investments Fixed asset investments are initia15y measured at transaction Pri excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomel(expenditure) for the year. Transaction costs are expensed as incurred. 1.7 Cash and cash equivalents Cash and cash equivalents include cash in hand. deposits held at call with banks, other short-term liquid investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabililies.
101 (CITY OF LONDON) ENGINEER REGIMENT (RICHMOND HILL) CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies {Continuedl 1.8 Financial instruments The Charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Charity's balance sheet when the Charily becomes party to the conlractual provisions of the instrument. Financial assets and liabilities are offset. with the nel amounts presented in the financial statements. when there is a legally enforceable right to sel off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transadion costs and are subsequently carried at amortised cost using the effective interest method unless Ihe arrangement constilutes a financing transaction, where the transaction is measured at ihe present value of Ihe future receipts discounted at a market rate of interest. Financial assets classified as re1vable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction. where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or seNices that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilTties if payment is due within one year or less. If not, they are presented a5 non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the Charity's contractual obligations expire or are discharged or cancelled. 1.9 Grants payable Grants payable are charged in the year in which the offer is made to the recipient. 1.10 Realised gains and losses All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sale proceeds and opening market value (purchase date if later). Unrealised gains and losses a calculated as Ihe difference between the carrying value at the period end and opening market value (or purchase date if later).
101 (CITY OF LONDON) ENGINEER REGIMENT (RICHMOND HILL) CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Critical accountlng estimates and judgements In the application of the Charity's accounting policies. the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are nol readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions lo accounting estimates are recognised in the period in which 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. Income from Investments Unrestricted Unrestrictsd funds funds 2025 2024 Income from listed investments Other interest 82.322 42 79,881 41 82,364 79,922 Charitable activities Grants payable 2025 Other Total 2025 Total 2024 2025 Trustee meetings 192 192 87 Grant fijnding of activities (see note 5) Share of governan costs (see note 6) 37,955 1,284 37,955 1,284 61,509 1,260 39,239 192 39,431 62,856 Grants payable 2025 2024 Grants payable 37.955 61,509 37,955 61,509
101 (CITY OF LONDON) ENGINEER REGIMENT (RICHMOND HILL) CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Grants payable {Continued) Grants are made in aCrdan with the Charity's objectives., During the year 3 grants totalling £37,955 (2024.. 4 grants tolalling £61,509) were made 10 101 Engineer Regiment. Support costs Governance costs 2025 Governance costs 2024 Accountancy and independent examination fee 1,284 1,284 1,260 1,260 1,284 1.284 1,260 1.260 Analysed beiween Charitable activilies 1,284 1.284 1,260 1,260 Governance costs includes payments to the independent examiner of £1.284 (2024: £1,260) for accountancy and independent examination services. Trustees None of the trustees (or any persons connected with them) received any remuneration (2024= £Nil) or expenses {2024.' £Nil) during the year. Gains and losses on investments Unrestrlcted Unrestricted funds funds 2025 2024 Gainsl(losses) arising on: Revaluation of investments (37,191) 115,795 Employees There were no employees during the year. 10 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 10-
101 (CITY OF LONDON) ENGINEER REGIMENT (RICHMOND HILL) CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 11 Fixed asset investments Listed investments Cost or valuation At 1 April 2024 Valuation changes 2,441,503 (37,191) At 31 March 2025 2,404,312 Carrying amount At 31 March 2025 2,404,312 At 31 March 2024 2,441,503 Fixed asset investments revalued All quoted investments are held in the United Kingdom. They are included above at market value. The historic cost of the investment portfolio is £2,140,000 {2024: £2.140.000). 12 Creditors: amounts falling due within one year 2025 2024 Accruals and deferred income 1,332 1,290 13 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balanS of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. At 1 April 2024 Incomlng resources Resources expended Gains and At 31 March losses 2025 General funds 2,567,519 82,364 (39,431) (37,191) 2,573,261 Previous year: At 1 April 2023 Incoming resources Resources expended Gains and At 31 March losses 2024 General funds 2,434,658 79,922 (62,856) 115,795 2,567,519 14 Related party transactions There were no disdosable related party transactions during the year (2024.. None). 11
101 (CITY OF LONDON) ENGINEER REGIMENT (RICHMOND HILL) CHARITABLE TRUST DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Investment income Investment income Bank interest 82,322 42 79,881 41 82,364 79.922 Total incomlng resources 82.364 79,922 Resources ex ended Charitable activitles Grants payable Grants to 101 Engineer Regiment 37.955 61.509 (37,955) {61,509) Other Trustee meetings 192 87 (192) (87) Governance costs Accountancy and independent examination fee 1,284 1,260 {1,284) (1,260) Net gainsl{losses) on investments Revaluation of investments (37,191) 115.795 Surplus for the Year 5,742 132.861 12-