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2023-03-31-accounts

Charity number: 1114654

THE ROYAL YORKSHIRE REGIMENT BENEVOLENT TRUST (PREVIOUSLY THE YORKSHIRE REGIMENT BENEVOLENT TRUST)

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

THE ROYAL YORKSHIRE REGIMENT BENEVOLENT TRUST

CONTENTS

Page
Reference and administrative details of the charity, its Trustees and advisers 1
Trustees' report 2 - 5
Independent examiner's report 6 - 7
Statement of financial activities 8
Balance sheet 9
Notes to the financial statements 10 - 18

THE ROYAL YORKSHIRE REGIMENT BENEVOLENT TRUST

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023

Trustees Lt Col David O'Kelly
MajGen Zac StenningOBE
Col Charles Le Brun
Mr Alex Liddle
Mr David Barraclough
Mr Peter Lee
Col Jason Wright
BrigPeter Monteith MBE
Lt Col Andrew Drake MBE
BrigDavid ColthupCBE
Charity registered number
1114654
Principal office
3 Tower Street
York
YO1 9SB
Independent examiners
Laura Masheder FCA DChA
BHP LLP
Rievaulx House
1 St Mary's Court
Blossom Street
York
YO24 1AH
Bankers
The Royal Bank of Scotland
Holt's Farnborough Branch
Lawrie House
Victoria Road
Farnborough
GU14 7NR
Investment manager
Sarasin & Partners LLP
Juxon House
100 St Paul's Churchyard
London
EC4M 8BU

Page 1

THE ROYAL YORKSHIRE REGIMENT BENEVOLENT TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2023

The Trustees present their annual report together with the financial statements of the The Royal Yorkshire Regiment Benevolent Trust for the year 1 April 2022 to 31 March 2023. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” in preparing the annual report and financial statements of the charity.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and 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 UK and Republic of Ireland published in October 2019.

Objectives and activities

a. Policies and objectives

The object of the charity is to support the relief of such persons in need by virtue of sickness, poor health or financial hardship who are serving or have served in the Regiment or the Former Regiments or the Former Disbanded Regiment or the children or dependants (whether or not remarried) of such persons (whether alive or dead) by:

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

b. Main activities undertaken to further the charity's purposes for the public benefit

The Trustees met three times in June 2022, December 2022 and January 2023. All Trustees submitted Declaration of Interests at the end of the year.

During the financial year, the committee approved 129 cases (2022: 158) for payment and £98,992 (2022: £76,661) was paid to beneficiaries. An additional grant of £10,000 (2022: £10,000) was awarded to The Soldiers’ Charity ABF.

Achievements and performance

a. Review of activities

The charity continues to provide essential support to the serving and retired community, and their dependants, in accordance with the objects of the Trust. Trustees noted that still a small percentage of grants made this year were to serving soldiers and/or their dependants.

There have been no changes to the overall governance structure; some work was done with an umbrella organisation, COBSEO (Confederation of British Service Charities) which helped Trustees to consider all aspects of good governance. This, together with the Risk Management Strategy, provides the Trust with necessary assurance.

Page 2

THE ROYAL YORKSHIRE REGIMENT BENEVOLENT TRUST

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

Achievements and performance (continued)

b. Investment policy and performance

The management of investments this year was by Sarasin & Partners who were appointed in September 2018.

Funds are invested for the purpose of generating future income to enable each of the Trusts to achieve their objectives. As the requirement for income will continue into the very long term, the Trustees aim to preserve the capital value of the portfolio in real terms. The Trustees are satisfied that the investments continue to meet our investment objective, and return a consistent and appropriate level of income, in line with our risk profile and time horizon.

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

b. Reserves policy

The charitable funds of The Royal Yorkshire Regiment are to provide support for the Regiment and its antecedent Regiments for welfare, benevolence, and the relief of need. The funds represent the total reserves of the Regimental charities and the income from them, together with the Day's Pay Scheme, represent the total income of the charities. As the requirement for income will continue into the very long term, the trustees aim to preserve the capital value in real terms. The Trustees consider that a level of free reserves of £1,100,000 is sufficient to achieve this.

Free reserves as at 31st March 2023 are £1,621,536 (2022: £1,724,995). Whilst this is above the target level, the income currently generated is at a level to enable the charity to provide grants to beneficiaries and was largely utilised in the current year.

c. Results

Donations to the charity during the year amounted to £56,761 (2022: £61,013) from the Soldiers Day Pay Scheme and £7,112 (2022: £2,311) of other donations. Fundraising activities linked directly to these donations totalled £nil (2022: £nil), resulting in net other donations of £7,112 (2022: £2,311).

There is sufficient cash flow within the charity to meet the benevolence obligation. It is our aim to continue to invest all donations received.

The charity is accruing funds to meet the future obligations to support soldiers and their dependants in need.

During the year, the charity had a deficit of income over expenditure of £1,624 (2022: £19,511 surplus). Taken together with the loss on investments of £101,835 (2022: £34,840 gain), this has resulted in a decrease of funds of £103,459 (2022: £54,351 increase). Total funds carried forward amount to £1,621,536 (2022: £1,724,995) and are all unrestricted.

Page 3

THE ROYAL YORKSHIRE REGIMENT BENEVOLENT TRUST

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

Structure, governance and management

a. Constitution

The Royal Yorkshire Regiment Benevolent Trust is unincorporated and is governed under a trust deed dated 15 May 2006.

b. Methods of appointment or election of Trustees

The Trustees of the charity are the persons who are the trustees from time to time of the charity called The Royal Yorkshire Regiment Charitable Trust, being:

The ex-officio trustees shall be: The Colonel of the Regiment The Deputy Colonel of the Regiment The Honorary Colonel Army Reserves The Regimental Secretary

Nominated Trustees shall be nominated by the Colonel of the Regiment in writing and appointed by a resolution of the trustees passed at a special meeting. A nominated trustee shall hold office for five years unless nominated for a shorter period.

c. Financial risk management

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks. The principal risks are connected to the volatility of the stock and fixed income markets, potential cuts to the defence budget and our inability to recruit and therefore man our battalions. This would lead directly to less ODPS money for the charities and potentially less dividend being paid to us.

Page 4

THE ROYAL YORKSHIRE REGIMENT BeNEVOLENTThUST TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2Q23 Stat•ment of Trustee5' responslbllltl•s The Trustees art responslble for preparlngthe Trustees, report and the flnanclal statements In accordan￿ wlth appllcable law and Unlted Klngdom Acttsuntlng Standards (United Klngdom Generally Accepted Accountlng Prattlcel. The law applioblÈ to charltles In En8land & Wales requlres the Trustees to prepare financlal statement5 for each flnanclal whlth glve a true and falr vlew of the state of affairs of the charlty and of Its Incomln8 re50Urtes and appllcatlon of resources forthat perlod. In preparln8 thesè flnanclal ststernents, the Trustees are requirèd to: select suitable accountlng pollcle5 and thèn apply them consi5tentty' obSe￿e the methods and prlnclples of the Charltles SORP 2019 IFRS 1021: make lud8ments and accountlng estlmates that are reasonable and prudenL' state whether appllcable UK Atcountlng Standards have been followed, sublert to any materfal departures d15closed and explalned In the flnantlal Statements; prepare the flnanclal statements on the 8olnB concem ba51$ unless It Is Inapproprlate to presume that the charlty wlll contlnue In bu51ness. The Trustee5 are responslble for keepln8 adèquate accountln8 records that are sufficlÈnt to show 8nd explaln the charlty's transactions and dlsc105e with reasonable accuracy at any tlme the financlal posltlon of the charlty and enable them to ensure that the flnanclal staternents comply wlth the Charlties Act 2011. the Charlty (Accounts and Reports) Regulations 2008 and the provlsion5 of the Trust deed. They are also responsible for safe8uaTding the assets of the charlty and hence for taklng reasonable steps forthè preventlon and detertlon of fraud and othèr Irre8ularltle5. Approved by order of the members of the board of Trustees and slgned on thelr behalf by: Lleut•nant Colonel D E O'Kelly MA BA Page 5

THE ROYAL YORKSHIRE REGIMENT BENEVOLENT TRUST

INDEPENDENT EXAMINER'S REPORT

FOR THE YEAR ENDED 31 MARCH 2023

Independent Examiner's Report to the Trustees of The Royal Yorkshire Regiment Benevolent Trust ('the charity')

I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 March 2023.

Responsibilities and Basis 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 Act 2011 ('the 2011 Act').

I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent Examiner's Statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts 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 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 should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Page 6

THE ROYAL YORKSHIRE REGIMENT BENEVOLENT TRUST

INDEPENDENT EXAMINER'S REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.

Laura Masheder

Laura Masheder (Nov 24, 2023 12:31 GMT)

Signed:

Dated: Nov 24, 2023

Laura Masheder FCA DChA

BHP LLP Rievaulx House 1 St Mary's Court Blossom Street York YO24 1AH

Page 7

THE ROYAL YORKSHIRE REGIMENT BENEVOLENT TRUST

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MARCH 2023

Note
Income from:
Donations and legacies
3
Investments
4
Total income
Expenditure on:
Charitable activities
5
Total expenditure
Net (expenditure)/income before net (losses)/gains on
investments
Net (losses)/gains on investments
9
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward
12		 Unrestricted
funds
2023
£
63,873
47,233
111,106
112,730
112,730
(1,624)
(101,835)
(103,459)
1,724,995
(103,459)
1,621,536		 Total
funds
2023
£
63,873
47,233
111,106
112,730
112,730
(1,624)
(101,835)
(103,459)
1,724,995
(103,459)
1,621,536		 Total
funds
2022
£
63,324
47,048
110,372
90,861
90,861
19,511
34,840
54,351
1,670,644
54,351
1,724,995

The Statement of Financial Activities includes all gains and losses recognised in the year.

All funds in the current and previous year were unrestricted.

Page 8

THE ROYAL YORKSHIRE REGIMENT BENEVOLENTTRUST BALANCE SHEET ASA T31 MARCH2023 2023 2022 Note Flxed 4gsets Investments 1,595,69Q 1,696,201 1,595.690 1,696,201 Current assèts Debtor5 io 4,867 38,178 Cash at bank and In hand 25,358 30,055 43,045 Credltor5'. amounts fallln8 due wlthln one year li 14,2091 114,2511 Net current a55ets 25A46 28,794 Totsl #ssets less tyrrent Ilabllltl•s L61&536 1,724,995 Tot#1 net assets L62L536 1,724,995 CharSty fvnds Unrestrlcted fund5 12 1,62L536 1,724.995 Total funds L62L536 L724,995 The flnanclal statements were approved and authorf5ed for Issue by the Trustees and sl8ned on thelr behalf by: Lleutenont Colo I D RE O'Kèlly MABA The notes on pages Ioto 18 form part of these financlal statèments. Page 9

THE ROYAL YORKSHIRE REGIMENT BENEVOLENT TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

1. General information

The Yorkshire Regiment Benevolent Trust is an unincorporated charity registered in England and Wales.

2. Accounting policies

2.1 Basis of preparation of financial statements

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the 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 UK and Republic of Ireland issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The Royal Yorkshire Regiment Benevolent Trust meets the definition of a public benefit entity under FRS 102.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

2.2 Going concern

As part of their assessment of the going concern basis of preparation, the trustees have considered the period up to 12 months from the signing of the accounts. The majority of the expenditure, being grants, is at the discretion of the Trustees. The charity also has sufficient reserves to cover the current level of expenditure for several years ahead.

At the time of approving the financial statements therefore, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis in preparing the financial statements.

2.3 Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Page 10

THE ROYAL YORKSHIRE REGIMENT BENEVOLENT TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

2. Accounting policies (continued)

2.4 Expenditure

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 a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.6 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.

2.7 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.8 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 three months or less from the date of acquisition or opening of the deposit or similar account.

Page 11

THE ROYAL YORKSHIRE REGIMENT BENEVOLENT TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

2. Accounting policies (continued)

2.9 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

2.10 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.11 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Investment income, gains and losses are allocated to the appropriate fund.

2.12 Critical accounting estimates and areas of judgment

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 not 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 to 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.

There are no critical accounting estimates and areas of judgement that are considered to have a material impact on the accounts in either year.

Page 12

THE ROYAL YORKSHIRE REGIMENT BENEVOLENT TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

2. Accounting policies (continued)

2.13 Taxation

The charity is considered to pass the tests set out in Sch.6, para.1 of the Finance Act 2010 and therefore it meets the definition of a charity for UK income tax purposes. Accordingly the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Income Tax Act 2007, Part 10 s521-s537 or s256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

3. Income from donations and legacies

Donations
Soldiers Days Pay Scheme
Donations
Total 2022		 Unrestricted
funds
2023
£
56,761
7,112
63,873
63,324		 Total
funds
2023
£
56,761
7,112
63,873
63,324		 Total
funds
2022
£
61,013
2,311
63,324

4. Investment income

Income from UK listed investments
Bank interest receivable
Total 2022		 Unrestricted
funds
2023
£
47,150
83
47,233
47,048		 Total
funds
2023
£
47,150
83
47,233
47,048		 Total
funds
2022
£
47,045
3
47,048

Page 13

THE ROYAL YORKSHIRE REGIMENT BENEVOLENT TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

5. Analysis of expenditure by activities

Benevolent grants
Total 2022
Analysis of direct costs		 Activities
undertaken
directly
2023
£
108,992
86,661		 Support costs
2023
£
3,738
4,200		 Total
funds
2023
£
112,730
90,861		 Total
funds
2022
£
90,861
Benevolent grants
Total 2022		 Benevolent
grants
2023
£
108,992
86,661		 Total
funds
2023
£
108,992
86,661		 Total
funds
2022
£
86,661

Included in benevolent grants is a payment of £10,000 (2022: £10,000) to the Army Benevolent Fund. All other grants are for the benefit of individuals.

6. Independent examiner's remuneration

2023 2022
£ £
Fees payable to the charity's independent examiner for the independent
examination of the charity's annual accounts 3,465 3,150

7. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2022 - £NIL).

During the year ended 31 March 2023, no Trustee expenses have been incurred (2022 - £NIL).

Page 14

THE ROYAL YORKSHIRE REGIMENT BENEVOLENT TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

8. Staff costs and emoluments

During the year no staff costs were incurred.

9. Fixed asset investments

Listed
investments		 Total
2023		 Total
2022
£ £ £
Cost or valuation
At 1 April 2022 1,696,199 1,696,199 1,638,839
Additions - - 22,520
Revaluations (101,835) (101,835) 34,840
At 31 March 2023 1,594,364 1,594,364 1,696,199
Investment cash 1,326 1,326 2
At 31 March 2023 1,595,690 1,595,690 1,696,201
Historical cost 1,431,335 1,431,335 1,430,012

All the fixed asset investments are held in the UK.

The investments are held in Sarasin Endowments Fund in both years.

10. Debtors

Due within one year
Other debtors		 2023
£
4,697
4,697		 2022
£
4,867
4,867

Page 15

THE ROYAL YORKSHIRE REGIMENT BENEVOLENT TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

11. Creditors: Amounts falling due within one year

Accruals and deferred income
Statement of funds
Statement of funds - current year
Unrestricted funds
General Fund
Revaluation Reserve
Statement of funds - prior year
Unrestricted funds
General Fund
Revaluation Reserve		 Balance at 1
April 2022
£
1,458,805
266,190
1,724,995
Balance at
1 April 2021
£
1,439,294
231,350
1,670,644		 Income
£
111,106
-
111,106
Income
£
110,372
-
110,372		 Expenditure
£
(112,730)
-
(112,730)
Expenditure
£
(90,861)
-
(90,861)		 2023
£
4,209
Gains/
(Losses)
£
-
(101,835)
(101,835)
Gains/
(Losses)
£
-
34,840
34,840		 2022
£
14,251
Balance at 31
March 2023
£
1,457,181
164,355
1,621,536
Balance at
31 March
2022
£
1,458,805
266,190
1,724,995

12. Statement of funds

Page 16

THE ROYAL YORKSHIRE REGIMENT BENEVOLENT TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

13. Summary of funds

Summary of funds - current year

General funds
Summary of funds - prior year
General funds		 Balance at 1
April 2022
£
1,724,995
Balance at
1 April 2021
£
1,670,644		 Income
£
111,106
Income
£
110,372		 Expenditure
£
(112,730)
Expenditure
£
(90,861)		 Gains/
(Losses)
£
(101,835)
Gains/
(Losses)
£
34,840		 Balance at 31
March 2023
£
1,621,536
Balance at
31 March
2022
£
1,724,995

14. Analysis of net assets between funds

Analysis of net assets between funds - current year

Fixed asset investments
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2023
£
1,595,690
30,055
(4,209)
1,621,536		 Total
funds
2023
£
1,595,690
30,055
(4,209)
1,621,536

Page 17

THE ROYAL YORKSHIRE REGIMENT BENEVOLENT TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

14. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year

Fixed asset investments
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2022
£
1,696,201
43,045
(14,251)
1,724,995		 Total
funds
2022
£
1,696,201
43,045
(14,251)
1,724,995

15. Ultimate controlling party

Throughout the year the charity was under the control of the Trustees.

16. Related party transactions

At the year end £4,697 (2022: £4,867) due from The Yorkshire Regiment Charitable Trust, which is an associated charity, was included in other debtors.

At the year end £51 (2022: £51) due to The Yorkshire Regiment Charitable Trust, was included in accruals and deferred income.

17. Associated charities

The trustees of The Royal Yorkshire Regiment Officers' Fund and Chattels are also the trustees of the following:

Page 18