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||||Page|
|---|---|---|---|
|Report ofthe Trustees|||1 tc 10|
|Report ofthe Independent
Auditors|||11to 13|
|Statement of Financial|Activities||14|
|Balance Sheet||||
|Cash Flow Statement|||16|
|Notes to the Finanmal|Statements||!7to 27|
|Detailed Statement of|Financial|Activities|28 to 32|
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||||||Year ended|Year ended|
|---|---|---|---|---|---|---|
||||||31.12.2020|31..12.2019|
||||Unrestricted|Restricted|Total|Total|
||||funds|funds|funds|funds|
|||Notes|f|f|f|f|
|INCOME FROM|||||||
|Donations
and legacies||2|195,199|609|195,808|184,169|
|Other trading activities||3|7,787||7,787|11,339|
|investment
income||4|78,240|32,847|111,087|170,586|
||||281,226|33,456|314,682|366,094|
|EXPENDITURE ON|||||||
|Raising funds|||27,777|6,840|34,617|49,596|
|Charitable
activities|||242,583|56,281|298,864|413,121|
|Total|||270,360|63,121|333,48 1.|462,717|
|Net (losses)/gains
on investments|||211,257|87,373|298,630|502,647|
|Net (expenditure)/iacome|||222,123|57,708|279,831|406,024|
|Transfers
between
funds|||||||
|Net movement
in funds|||222,123|57,708|279,831|406,024|
|RECONCILIATION|OF FUNDS||||||
|Total funds brought|forward||3,998,511|1,726,283|5,724,794|5,318,769|
|TOTAL FUNDS CARRIED FORWARD|||4,220,634|1,783,991|6,004,625|5,724,793|
##
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##
|||||Notes|2020f|2019
f.|
|---|---|---|---|---|---|---|
|FIXED ASSETS|||||||
|Investments||||13R 14|7,624,021|7,206,850|
||||||7,624,021|7,206,850|
|CURRENT ASSETS|||||||
|Debtors||||15|60,726|91,089|
|Cash at bank|||||64,846|23,041|
||||||125,572|114,130|
|CREDITORS|||||||
|Amounts
falling due within one year||||16|(54,322)|(92,874)|
|NET CURRENT|ASSETS||||71,250|21,256|
|TOTAL ASSETS|LESSCURRENT||||||
|LIABILITIES|||||7,695,271|7,228,106|
|CREDITORS|||||||
|Amounts
falling|due|ager|more||||
|than one year||||17|(1,690,646)|(1,503,312)|
|NET ASSETS|||||6,004,625|5,724,794|
|FUNDS||||18gt 19|||
|Unrestricted
funds|||||4,220,634|3,998,511|
|Restricted
funds|||||1,783,991|1,726,283|
||||||6,004,625|5,724,794|
##
##
||||||||||||||||2820|2019|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||||Notes||||
|Cash flaws from|operating|||activities:|||||||||||||
|Cash generated
from operations|||||||||||||||77,754|50,163|
|Net cash provided|by|(used||in) operating|||activities||||||||77,754|(50,163)|
|Cash flows from|investing|||actlvifles:|||||||||||||
|Purchase offixed|asset|investments|||||||||||||(2,733,013)|(2,971,521)|
|Saleoffixed asset|investroents||||||||||||||2,697,013|3,019,586|
|Interest received|||||||||||||||51|88|
|Net cash provided|by|(used||in) investing|||activities||||||||35,949|48,153|
|Change in cash and cash equivalents||||||in|the|repordng||period|||||41,805|(2,010)|
|Cash and cash equivalents||||at the|beginning|||ofthe|reportiag|||period|||23,041|25,0SI|
|Cash and cash equivalents||||at the|end|of|the|reporting||period|||||64,846|23,041|
|1. RECONCILIATION|||OF NET (EXPENDITI/RE)/INCOME|||||||||||TO NET CASH|FLOW FROM|OPERATING|
|ACTIVITIES|||||||||||||||||
||||||||||||||||2020|2019|
|||||||||||||||||f|
|Net
(expenditure)/income||||far|the|reporting|||period||(ss||per|the|||
|statement offinancial||activities)|||||||||||||279,831|406,024|
|Loss/(Gain)
on investments|||||||||||||||(381,171)|(633,485)|
|Interest received|||||||||||||||(51)|(88)|
|Decrease/(Increase)|in|stock|||||||||||||||
|Decrease/(Increase)|in|debtors|||||||||||||30,363|19,341|
|(Decrease)/increase|in|creditors|||||||||||||(38,552)|48,981|
|(decrease)/increase|in|long|term liabilities||||||||||||187,334|109,064|
||||||||||||||||77,754|(50,163)|
|ANALYSIS OF CHANGES
IN NET||||||(DEBT)/FUNDS|||||||||||
|||||||||||||At|01.01.20||Cash tlow|At 31.1220|
|Net cash|||||||||||||||||
|Cash at bank|||||||||||||23,041||41,805|64,846|
||||||||||||||23,041||41,805|64,846|
|Total|||||||||||||23,041||41,805|64,846|
##
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##
|||Unrestricted|Restricted|Year ended|Year ceded|
|---|---|---|---|---|---|
|||Funds|Funds
f|31.12.20f|31.12.19f|
|Subscriptions|(RIBemen and Officers)|149,752||149,752|148,058|
|Subscnptions|(Officers)|34,059||34,059|33,103|
|Donations snd|legacies|10,203|503|10,706|1.,516|
|Book sales||1,185|106|1,291|185|
|Sale ofassets|and other items||||1,307|
|||195,199|609|195,808|184,169|
##
|Uarestricted|Restricted|Year ended|Year ended|
|---|---|---|---|
|Funds
f|Funds|31.12.20f|31.12.19f|
|7,787||7,787|11,339|
|7,787||7,787|11,339|
##
|||Uarestricted|Restricted|Year ended|Yearended|
|---|---|---|---|---|---|
|||Funds|Funds|31,12,?0|31.12,19|
||||f.|||
|Deposit|account interest|51||51|88|
|Dividend|and interest|78,189|32,847|111,036|170,498|
|||78,240|32,847|111,087|170,586|
||||Unrestricted|Restricted|Year ended|Yeareaded|
|---|---|---|---|---|---|---|
||||Funds|Funds|31.12.20|31.12.19|
|Investment|management|fees|16,284|6,840|23,124|22,216|
|Regimental|magazine||11,493||11,493|27,380|
||||27,777|6,840|34,617|49,596|
##
##
||||||||Grant fundiog|Grant fundiog|Support||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||Direct|ofactivities|casts||
||||||||casts
f|(see nate 8)|(see nate 9)|Totals|
|General (RHQ)|||||||45,270|215|61,337|106,822|
|Battalions,
Reserve|Forces,|||ITC Coy aud AFC Harrogate||grants||51,900||51,900|
|Ctty and County oflice||grants||||||5,580||5,580|
|Gfflcers Fund|||||||37,545|10,185||47,730|
|5 (V) RGJ Trust Fund||||||||9,000||9,000|
|Lawrence
Bequest|Fund|||||||20,000||20,000|
|Hatton
Bequest Fund||||||||1,000||1,000|
|RGJ Management|Fund||||||ID5|35,000||35,105|
|Light Infantry
Management||||Fund|||76|100||176|
|Rifles Collection Curator's|||wages and costs|||||21,55 I||21,551|
||||||||82,996|154,531|61,337|298,864|
|GRANTS PAYABLE|||||||||||
|The total ofgrants|paid|during|||the year was as follows:||||||
||||||||||Year ended|Year ended|
||||||||||31.12.20|31.12.19|
|||||||||||f|
|Unrestricted
funds:|||||||||||
|Battalion, Reserve|Forces,||ITC||Coy and AFC Harrogate||||51,900|75,590|
|Cornwsl1 offlce|||||||||1,500|3,180|
|Exeter oflice||||||||||1,000|
|London oAice||||||||||493|
|Salisbury office||||||||||471|
|Shrewsbury
oflice|||||||||1,580|2,000|
|Taunton
oAice||||||||||4,000|
|Yorkshire office|||||||||1,000|3,500|
|South West oiTtce|||||||||1,000||
|Rifles admiu|||||||||500||
|RHQ grant|||||||||215|2,298|
|5(V) RGJ Trust|||||||||9,000|3,000|
|GAicers fund grant|||||||||10,185|14,547|
|Restricted feeds:|||||||||||
|Grants (Hanon Bequest||Fund)|||||||1,000|1,000|
|Grants (Light Infantry||Fund)|||||||100|7,061|
|Adventure
Training|grants||(Lawrence Bequest Fund)||||||20,000|11,000|
|RGJ Museum
Trust grant (RCiJ|||||Management
Fund)||||35,000|25,000|
|RGJ Association (RGJ||Management
Fund)||||||||45,50D|
|New museum
CIO|||||||||21,551|19,586|
||||||||||154,531|219,226|
##
##
##
##
##
|SUPPORT COS|TS|||||||
|---|---|---|---|---|---|---|---|
|||||||Governance||
||||||Management|(see note 10)|Total|
||||||f.|f||
|Postage and stationery|||||790||790|
|Publicattons|||||2,100||2,100|
|IT admin support|and|equipment|||9,582||9,582|
|Membership
and|subscriptions||||90||90|
|Equipment
maintenance|||and repairs||12,022||12,022|
|Trustee honoraria|||||2,500||2,500|
|Staffhonoraria|||||15,500||15,500|
|Insurance|||||4,469||4,469|
|Meeting costs||||||175|175|
|Regimental
Serretary||expenses|||45||45|
|Colonel Comdts|Expenses||||306||306|
|Accountancy|||||6,998||6,998|
|Auditors'
remuneration||||||6,760|6,760|
||||||54,402|6,935|61,337|
|GOVERNANCE|COSTS|||||||
|||||Unrestricted|Restricted|Year ended|Year ceded|
|||||Funds|Funds|31,12,20|31.12,19|
|||||f||||
|Meeting costs||||175||175|1,197|
|Auditors'
remuneration||||6,760||6,760|6,358|
|||||6,935||6,935|7,555|
##
##
##
|Rifles Collection Curators gross salaries|
|---|
|Pension costs|
|Employers
Nl|
|Total salary costs|
##
##
##
##
|||Unrestricted|Restricted|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||f|f|f|
|INCOME FROlyl|||||
|Donations
snd legacies||182,250|1,919|184,169|
|Other trading activities||11,339||'1 1,339|
|Investment
income||118,869|51,717|170,586|
|Total||312,458|53,636|366,094|
|EXPENDITURE ON|||||
|Raising funds||42,865|6,731|49,596|
|Charitable
activities||314,741|98,380|413,121|
|Total||357,606|105,111|462,717|
|Net gains/(losses)
on investments||351,990|150,657|502,647|
|Net income/(expenditure)||306,842|99,182|406,024|
|Transfers
between
funds|||||
|Net movement
in funds||306,842|99,182|406,024|
|RECONCILIATION|OF FUNDS||||
|Total funds brought forward||3,691,669|1,627,101|5,318,770|
|TOTAL FUNDS CARRIED FORWARD||3,998,511|1,726,283|5,724,794|
##
##
||Listed|
|---|---|
||Investmentsf|
|MARKET VALUE||
|At lstJanuary
2020|7,206,750|
|Additions|2,733,013|
|Disposals|(2,697,013)|
|Revaluation
(Charity)|298,630|
|Revaluation
(held for third parties)|82,541|
|At 31st December 2020|7,623,921|
|NET BOOK VALUE||
|At 31st December 2020|7,623,921|
|At 31st December 2019|7,206,750|
|||||Market|
|---|---|---|---|---|
|||||valuef|
|Within|the|United|Kmgdom|2,771,554|
|Outside|the|United|Kingdom|4,852,367|
|||||7,623,921|
##
##
|FIXEDA|SSET INV|ESTMENTS -CHARITY ONLY|||
|---|---|---|---|---|
||||2020|2019|
|||||2|
|Listed investments|||7,623,921|7,206,750|
|investment|in unlisted|subsidiary|100|100|
||||7,624,021|7,206,850|
##
|||2020|2019|
|---|---|---|---|
|Other debtors||60,726|82,263|
|Deferred|consideration||8,000|
|Amounts|falling due in more than one year:|||
|Deferred|considemtion||826|
|||60,726|91,089|
##
||||2020|2019|
|---|---|---|---|---|
|Other|creditom||21,401|25,480|
|Ritles|Benevolent|Trust|32,921|67,394|
||||54,322|92,874|
##
##
##
|Group||||
|---|---|---|---|
|||2020|2019|
|DDLI Charities||846,866|897,547|
|I Rifles PRI||108,723|104,405|
|2 Rifles PRI||203,285|195,212|
|4 Rifles PRI||54,238|52,41.4|
|5 Rifles PRI||63,551|61,027|
|6 Rifles PRI||35,835|34,411|
|7 Rifles PRI||164,844|158,297|
|Rifles k. LI Association|Somerset|213,304||
|||1,690,646|1,503,312|
##
||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|
||Funds|Fundsf|2020|2019|
|Fixed assets|||||
|Investments|4,217,852|3,406,169|7,624,021|7,206,750|
|Current assets|57,104|68,468|125,572|114,130|
|Current
liabilities|(54,322)||(54,322)|(92,874)|
|Long term liabilities||(1,690,646)|(1,690,646)|(1,503,312)|
||4,220,634|1,783,991|6,004,625|5,724,694|
##
##
##
|MOVEMENT
IN|FU|NDS|||||||
|---|---|---|---|---|---|---|---|---|
||||Balance at|Incoming|Resources|investment||Balance at|
||||OLD L20
f|resources|expended|gains/(losses)f
Transfers
f||31.12.20
f.|
|Unrestricted
fund|||||||||
|General fund|||3,828,028|243,614|213,104|204,563||4,063,101|
|Designated
funds|||||||||
|5(V)RGJ Trust|||143,916|2,504|9,526|6,694||143,588|
|Officers Fund|||26,567|35,108|47,730|||13,945|
||||3,99S,511|2S1,226|270,360|211,257||4,220,634|
|Restricted funds|||||||||
|Hatton Bequest Fund|||39,098|730|1,152|1,974||40,650|
|Lawrence Bequest|Fund||390,755|7,056|21,479|18,926||395,258|
|RGJ Management|Fund||1,190,863|23,1D4|39,906|61,186||1,235,247|
|Light Infantry
Fund|||105,567|2,566|584|5,287||112,836|
||||1,726,283|33,456|63,12'I|87,373||1,783,991|
|TOTAL FUNDS|||5,724,794|314,682|333,481|298,630||6,004,625|
|A detailed description||ofthe|dcstgnatcd
and restricted
funds ts included
in|||thc trustees
annual|report.||
|Comparative
net movements|||in funds, induded|io the above are as follows:|||||
||||Balance st|Incoming|Resources|Investment||Balance at|
||||01.01.19
f|resources|expended
f|gains/(lasses)
Transfers
f||31.12.19
f|
|Unrestricted
fund|||||||||
|General
fund|||3,537,884|274,506|324,258|339,896||3,828,028|
|Designated
funds|||||||||
|5 (V) RGJ Trust|||131,299|4,051|3,528|12,094||143,916|
|Officers Fund|||22,486|33,901|29,82D|||26,567|
||||3,69'1,669|3'12,458|357,606|351,990||3,998,511|
|Restricted funds|||||||||
|Hstton Bequest Fund|||35,829|1,107|1,144|3,306||39,098|
|Lawrence Bequest|Fund||358,547|11,2DS|12,461|33,461||390,755|
|RGJ Management|Fund||1,127,709|37,743|79,623|105,034||1,190,863|
|Light Infantry
Fund|||105,0'I 6|3,578|11,883|8,856||105,567|
||||1,627,101|53,636|105,111|150,651||1,726,283|
|TOTAL FUNDS|||5,318,770|366,094|462,717|502,647||5,724,794|
##
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##
##
##
||||||||Year ended|Year ended|
|---|---|---|---|---|---|---|---|---|
||||||||31.12.2020|31,12,2019|
|||||||||f|
|INCOME|FROM||||||||
|Donations|and legacies||||||||
|Regimental|Subscriptions||(Ritlemen|and Ofticers)|||149,752|148,058|
|Regimental|Subscriptions||(Officers)||||34,059|33,103|
|Donations|and legacies||||||9,989|1,089|
|Donations|(Light Infantry)||||||503|427|
|Rifles Direct Income|||||||214||
|Book sales|(Light Infantry)||||||1,291|185|
|Sale ofassets and other items||||||||1,307|
||||||||195,808|184,169|
|Other trading
activities|||||||||
|Magazine|income||||||7,787|11,339|
|Investment|income||||||||
|Dividends|and interest||||||111,036|170,498|
|Deposit account interest|||||||51|88|
||||||||111,087|170,586|
|Total|||||||314,682|366,094|
|EXPENDITURE ON|||||||||
|Raising funds|||||||||
|Investment|management|fees|||||23,124|22,216|
|Regimental|magazine||||||11,493|27,380|
||||||||34,617|49,596|
|Charitable|activities||||||||
|Recmiting|costs||||||21,685|26,081|
|Honour boards etc|||||||4,999|2,486|
|Wreaths snd rememberance||||||||547|
|Travel expenses (Regional|||Colonels|and Advisory||Board)|467|928|
|Adventure|training/sports||sponsored|through|RHQ||1,650|2,920|
|Band and Bugles expenses||||||||1,766|
|Officers Fund expenditure|||||||30,545|10,273|
|Chronicle|contribution||||||4,000|2,500|
|Rifles Association|||||||59|394|
|Divisional|colonel||||||3,139|2,540|
||||||||66,544|50,434|
##
##
||||Year ended|Year ended|
|---|---|---|---|---|
||||31.12.2020|31,122019|
|Charitable
activities|continued||66,544|50,434|
|StCross Cricket Ground|||10,000|10,000|
|Battlefield
study/tours||||1,311|
|Marketing
and fairnly|support|||82|
|Buglers||||619|
|Freedom parades||||3,178|
|Grants (see note S)|||154,531|219,226|
|RCO salary|||5,250|2,275|
|Reunion/gathering
costs|||1,020|28,452|
|RGJ Management
Fund costs|||105|4,384|
|Light Infantry
Management||Fund costs|77|935|
|Regimental
awards||||1,200|
|Awards
dinner||||23,841|
||||237,527|345,937|
|Support casts|||||
|Postage and stationery|||790||
|Publications|||2,100||
|)T and admin
support|and equipment||9,582|22,530|
|Membership
and subscriptions|||90|76|
|Equipment
and maintenance||and repairs|12,022|12,657|
|Trustee honoraria|||2,500|2,500|
|Staff honoraria|||15,500|10,000|
|insurance|||4,469|4,729|
|Meeting costs|||175|1,197|
|Regimental
secretary|expenses||45|101|
|Colonel Comdts Expenses|||306||
|Accountancy|||6,998|6,716|
|Auditors'
remuneration|||6,760|6,358|
||||61,337|67,184|
|Total|||333,481|462,717|
|Net (losses)/gains
on|investments||298,630|502,647|
|Net (expenditure)/income|||279,831|406,024|
##
||||Designated|Funds||
|---|---|---|---|---|---|
||||5(V)RGJ|Officers||
||||Trust|Fund|Total|
||||8||8|
|INCOME FROM||||||
|Subscriptions||||34,059|34,059|
|Investment
income|||2,504||2,504|
|Bugle sales||||1,049|1,049|
||||2,504|35,108|37,612|
|EXPENDITURE|ON|||||
|Grants|||9,000|1.0,185|19,185|
|Chronide/Bugle
Publications||||30,470|30,470|
|Chroniole
honoraria||||2,000|2,000|
|St Cross||||5,000|5,000|
|Adventure
training||||75|75|
|Investment
management||fees|526||526|
|Total|||9,526|47,730|57,256|
|Net (losses)/gains|on investments||6,694||6,694|
|Net (expenditure)/income|||(328)|(12,622)|(12,950)|
|Net movement
in|funds||(328)|(12,622)|(12,950)|
|RECONCILIATION||OF FUNDS||||
|Total funds brought forward|||143,916|26,567|170,483|
|TOTAL FUNDS|CARRIED FORWARD||143,588|13,945|157,533|
##
##
||||Hatton|Lawrence|RGJ|Light||
|---|---|---|---|---|---|---|---|
||||Bequest|Bequest|Management|Infantry||
||||Fund|Fund|Fund|Fund|Total|
||||8|||8|f.|
|INCOME FROM||||||||
|Donations
aod legacies||||||503|503|
|Book sales||||||106|106|
|Investment
income|||730|7,056|23,104|1,957|32,847|
|Total|||730|7,056|23,104|2,566|33,456|
|EXPENDITURE|ON|||||||
|Grants|||1,000|20,000|35,000|100|56,100|
|Meeting costs|||||48||48|
|Postage and stationery|||||I|40|42|
|Wreaths and rememberance|||||56|37|93|
|Investment
management||fees|152|1,479|4,801|407|6,840|
|Tatal|||1,152|21,479|39,906|584|63,121|
|Net (losses)/gains|on investments||1,974|18,926|61,186|5,287|87,374|
|Net (expenditure)/income|||1,552|4,503|44,384|7,269|57,708|
|Transfers
between
funds||||||||
|Net movement
in|funds||1,552|4,503|44,384|7,269|57,708|
|RECONCILIATION||OF FUNDS||||||
|Total funds brought
forward|||39,098|390,755|1,190,863|105,567|1,726,283|
|TOTAL FUNDS|CARRIED FORWARD||40,650|395,258|1,235,247|112,836|1,783,991|
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