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|---|---|---|
|Report ofthe Trustees||1to 10|
|Report ofthe Independent
Auditors||11 to 13|
|Statement ofFinancial|Activities|14|
|Balance Sheet|||
|Cash Flow Statement||16|
|Notes to the Financial|Statements|17to 27|
|Detailed Statement ofFinancial Activities||28 to 32|
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||||||Year ended|Year ended|
|---|---|---|---|---|---|---|
||||||31.12.2021|31.12.2020|
||||Unrestricted|Restricted|Total|Total|
||||funds|funds|funds|funds|
|||Notes|8|8||f.|
|INCOME FROM|||||||
|Donations
and legacies
Other trading activities
Investment
income|||519,676
9,227
63,224|15,469
25,397|535,145
9,227
88,621|195,808
7,787
111,087|
|Total|||592,127|40,866|632,993|314,682|
|EXPENDITURE ON|||||||
|Raising funds
Charitable
activities|||34,531
299,878|7,234
85,446|41,765
385,324|34,617
298,864|
|Total|||334,409|92,680|427,089|333,481|
|Net (losses)/gains
on investments|||388,165|148,950|537,115|298,630|
|Net (expenditure)/income|||645,883|97,136|743,019|279,831|
|Transfers between
funds|||||||
|Net movement
in funds|||645,883|97,136|743,019|279,831|
|RECONCILIATION|OF FUNDS||||||
|Total funds brought|forward||4,220,634|1,783,991|6,004,625|5,724,794|
|TOTAL FUNDS CARRIED FORWARD|||4,866,517|1,881,127|6,747,644|6,004,625|
##
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||||||2021|2020|
|---|---|---|---|---|---|---|
|||||Notes|||
|FIXEDASSETS|||||||
|Investments||||13tk 14|9,142,132|7,624,021|
||||||9 142 132|7,624,021|
|CURRENT ASSETS|||||||
|Debtors||||15|49,000|60,726|
|Cash at bank|||||97,287|64,846|
||||||146,287|125,572|
|CREDITORS|||||||
|Amounts
falling due within one|||year|16|(59,537)|(54,322)|
|NET CURRENT|ASSETS||||86,750|71,250|
|TOTAL ASSETS|LESS CURRENT||||||
|LIABILITIES|||||9,228,882|7,695,271|
|CREDITORS|||||||
|Amounts
falling
than one year|due|atter|more|17|(2,481,238)|(1,690,646)|
|NET ASSETS|||||6,747,644|6,004,625|
|FUNDS
Unrestricted
funds
Restricted
funds||||18&19|4,866,517
1,881,127|4,220,634
1,783,991|
||||||6,747,644|6,004,625|
##
##
||||||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||Notes|||8||
|Cash flows from operating
activities:
Cash generated
from operations|||||||||||815,981|77,754|
|Net cash provided
by (used in) operating||||activities|||||||815,981|77,754|
|Cash flows from investing
activities:
Purchase offixed asset investments|||||||||||(3,349,545)|(2,733,013)|
|Saleoffixed asset investments|||||||||||2,565,996|2,697,013|
|Interest received|||||||||||9|51|
|Net cash provided
by (used in) investing||||activities|||||||(783,540)|(35,949)|
|Change in cash and cash equivalents||in|the reporting|||period|||||32,441|41,805|
|Cash and cash equivalents
at the|beginning ofthe||||reporting||period||||64,846|23,041|
|Cash and cash equivalents
at the|end|ofthe reporting||||period|||||97,287|64,846|
|1. RECONCILIATION
OF NET (EXPENDITIJRE)/INCOME|||||||||TO NET||CASH FLOW FROM|OPERATING|
|ACTIVITIES|||||||||||||
||||||||||||2021|2020|
|Net
(expenditure)/income
for
statement
offinancial activities)|the||reporting||period||(as|per||the|743,019|279,831|
|Loss/(Gain)
on investments
Interest received|||||||||||(734,562)
(9)|(381,171)
(51)|
|Decrease/(Increase)
in stock
Decrease/(Increase)
in debtors
(Decrease)/Increase
in creditors
(decrease)/Increase
in long term liabilities|||||||||||11,727
5,214
790,592|30,363
(38,552)
187,334|
||||||||||||815,981|77,754|
|ANALYSIS OF CHANGES IN|NET|(DEBT)/FIJNDS|||||At||01.01.21||Cash flow|At 31.12.21|
|Net cash|||||||||||||
|Cash at bank|||||||||64,846||32,441|97,287|
||||||||||64,846||32,441|97,287|
|Total|||||||||64,846||32,441|97,287|
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##
||||Unrestricted|Restricted|Year ended|Year ended|
|---|---|---|---|---|---|---|
||||Funds|Funds|31.12.21|31.12.20|
|Suhscriptions|(Riflemen|and Officers)|164,373||164,373|149,752|
|Subscriptions|(Officers)||34,987||34,987|34,059|
|Donations
and|legacies||254,356|15,259|269,615|10,706|
|Gift aid|||||||
|Curators
grants|||||||
|Book sales|||1,776|210|1,986|1,291|
|Saleofassets|and other|items (see note 8)|64,184||64,184||
||||519,676|15,469|535,145|195,808|
##
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|OTHER|TRADING ACTIVITIES|||||
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Year ended|Year ended|
|||Funds|Funds|31.12.21|31.12.20|
|Magazine|income|9,227||9,227|7,787|
|Trading|activities|||||
|||9,227||9,227|7,787|
|INVESTMENT INCOME||||||
|||Unrestricted|Restricted|Year ended|Year ended|
|||Funds|Funds|31.12.21|31.12.20|
|Deposit|account interest|9||9|51|
|Dividend|and interest|63,215|25,397|88,612|111,036|
|Sale oftrading operations||||||
|||63,224|25,397|88,621|111,087|
##
##
||||Unrestricted|Restricted|Year ended|Year ended|
|---|---|---|---|---|---|---|
||||Funds|Funds|31.12.21|31.12.20|
|Investment|management|fees|18,075|7,234|25,309|23,124|
|Regimental|magazine||16,456||16,456|11,493|
|Trading activities|||||||
||||34,531|7,234|41,765|34,617|
##
##
##
|CHARITABLE A|C|TI|VIT|IES|||||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||Grant funding||Support||
||||||||Direct|ofactivities|costs||
||||||||costs|(see note 7)|(see note 8)|Totals|
|||||||||f.|||
|General (RHQ)|||||||88,899|373|106,719|195,991|
|Battalions, Reserve|Forces, ITC Coy||||and AFC Harrogate|grants||45,500||45,500|
|City and County office|||grants|||||7,350||7,350|
|Officers Fund|||||||21,561|8,975||30,536|
|5 (V)RGJTrust Fund||||||||7,500||7,500|
|Lawrence Bequest|Fund|||||||20,000||20,000|
|Hatton Bequest Fund||||||||1,000||1,000|
|RGJ Management|Fund||||||16|64,116||64,132|
|Light Infantry Management||||Fund|||114|200||314|
|Museum
Grant||||||||13,000||13,000|
||||||||110,590|168,014|106,719|385,323|
|GRANTS PAYABLE|||||||||||
|The total ofgrants|paid||during the year was as follows:||||||||
||||||||||Year ended|Year ended|
||||||||||31.12.21|31.12.20|
|Unrestricted
funds:|||||||||||
|Battalion, Reserve|Forces,|||ITC Coy and AFC Harrogate|||||45,500|51,900|
|Cornwall office||||||||||1,500|
|Exeter office|||||||||1,000||
|London office|||||||||850||
|Salisbury office|||||||||||
|Shrewsbury
office|||||||||1,000|1,580|
|Taunton office|||||||||1,200||
|Yorkshire office|||||||||2,300|1,000|
|South West office|||||||||500|1,000|
|Rifles admin|||||||||500|500|
|RHQ grant|||||||||373|215|
|5(V)RGJ Trust|||||||||7,500|9,000|
|Officers fund grant|||||||||8,975|10,185|
|Restricted funds:|||||||||||
|Grants (Hatton Bequest Fund)|||||||||1,000|1,000|
|Grants (Light Infantry|||Fund)||||||200|100|
|Adventure
Training||grants||(Lawrence Bequest Fund)|||||20,000|20,000|
|RGJ Museum
Trust||grant||(RGJ Management
Fund)|||||64,116|35,000|
|RGJ Association (RGJ Management|||||Fund)||||||
|New museum
CIO|||||||||13,000|21,551|
||||||||||168,014|154,531|
##
##
##
|SUPPORT COS||TS|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||||Governance|||
|||||||||||Management||(see note 9)||Total|
|Postage and stationery|||||||||||365|||365|
|Publications|||||||||||606|||606|
|IT admin support||and equipment|||||||||7,544|||7,544|
|Membership
and|subscriptions||||||||||153|||153|
|Equipment
maintenance|||and repairs||||||||6,491|||6,491|
|Trustee honoraria|||||||||||||||
|Staffhonoraria|||||||||||10,000|||10,000|
|Insurance|||||||||||3,815|||3,815|
|Meeting costs||||||||||||72||72|
|Regimental
Secretary expenses|||||||||||51|||51|
|Colonel Comdts|Expenses||||||||||1,284|||1,284|
|Accountancy|||||||||||5,390|||5,390|
|Auditors'
remuneration||||||||||||6,764||6,764|
|Rifles collection|—9Statuettes|||from|sale|ofassets by melting||down|||64,184|||64,184|
|broken and unused||silver|||||||||||||
||||||||||||99,883|6,836||106,719|
|GOVERNANCE||COSTS|||||||||||||
||||||||Unrestricted||||Restricted|Year ended||Year ended|
||||||||||Funds||Funds|31.12.21||31.12.20|
|||||||||||8|||8||
|Meeting costs||||||||||72||72||175|
|Auditors'
remuneration|||||||||6,764|||6,764||6,760|
||||||||||6,836|||6,836||6,935|
|TRUSTEESREMUNERATION|||||AND|BENEFITS|||||||||
|With the Charity||Commission's||approval,||Lt Col P Balls|OBE,||Regimental||Secretary|and a Trustee|was|paid g4,000|
|for his exceptional||contribution||to the Charity (2020:X2,000).|||||||||||
|Trustees'
Expenses|||||||||||||||
|There
were
no|trustees'||expenses||paid|for the year|ended||31stDecember2021|||or for the period||ended
31st|
|December 2020.|||||||||||||||
|STAFF COSTS|||||||||||||||
|||||||||||||2021||2020|
|||||||||||||||8|
##
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##
##
##
##
|||Unrestricted|Restricted|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||8|8|8|
|INCOME FROM|||||
|Donations
and legacies||195,199|609|195,808|
|Other trading activities||7,787||7,787|
|Investment
income||78,240|32,847|111,087|
|Total||281,226|33,456|314,682|
|EXPENDITURE ON|||||
|Raising funds||27,777|6,840|34,617|
|Charitable
activities||242,583|56,281|298,864|
|Total||270,360|63,121|333,481|
|Net gains/(losses)
on investments||211,257|87,373|298,630|
|Net income/(expenditure)||222,123|57,708|279,831|
|Transfers
between funds|||||
|Net movement
in funds||222,123|57,708|279,831|
|RECONCILIATION|OF FUNDS||||
|Total funds brought|forward|3,998,511|1,726,283|5,724,794|
|TOTAL FUNDS CARRIED FORWARD||4,220,634|1,783,991|6,004,625|
##
##
||Listed|
|---|---|
||Investments|
|MARKET VALUE||
|At 1stJanuary 2021|7,623,921|
|Additions|3,349,545|
|Disposals|(2,565,996)|
|Revaluation
(Charity)|537,113|
|Revaluation
(held for third parties)|197,449|
|At 31stDecember 2021|9,142,032|
|NET BOOK VALUE||
|At 31stDecember 2021|9,142,032|
|At 31stDecember 2020|7,623,921|
|||||Market|
|---|---|---|---|---|
|||||value|
|Within|the|United|Kingdom|3,085,002|
|Outside|the|United|Kingdom|6,057,030|
|||||9,142,032|
##
##
||||2021|2020|
|---|---|---|---|---|
|Listed investments|||9,142,032|7,623,921|
|Investment|in unlisted|subsidiary|100|100|
||||9,142,132|7,624,021|
##
|||2021|2020|
|---|---|---|---|
|Other debtors||49,000|60,726|
|Deferred|consideration|||
|Amounts|falling due in more than one year:|||
|Deferred|consideration|||
|||49,000|60,726|
##
||||2021|2020|
|---|---|---|---|---|
|||||8|
|Other|creditors||23,012|21,401|
|Rifles|Benevolent|Trust|36,525|32,921|
||||59,537|54,322|
##
##
|Group||||
|---|---|---|---|
|||2021|2020|
|DDLI Charities||865,829|846,866|
|I Rifles PRI||117,632|108,723|
|2 Rifles PRI||219,944|203,285|
|4Rifles PRI||58,682|54,238|
|5 Rifles PRI||68,759|63,551|
|6Rifles PRI||38,772|35,835|
|7Rifles PRI||172,906|164,844|
|Rifles &LIAssociation|Somerset|231,119|213,304|
|RGBW Fund||707,595||
|||2,481,238|1,690,646|
##
|||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|
|||Funds|Funds|2021|2020|
||||8|8||
|Fixed assets||||||
|Investments||4,831,016|4,311,117|9,142,133|7,623,921|
|Current|assets|95,044|51,243|146,287|125,572|
|Current|liabilities|(59,538)||(59,538)|(54,322)|
|Long term liabilities|||(2,481,238)|(2,481,238)|(1,690,646)|
|||4,866,522|1,881,122|6,747,644|6,004,524|
##
##
##
|MOVEMENT IN|FUNDS|||||||
|---|---|---|---|---|---|---|---|
|||Balance at|Incoming|Resources|investment||Balance at|
|||01.01.21|resources|expended|gains/(losses)|Transfers|31.12.21|
||||g||||g|
|Unrestricted
fund||||||||
|General
fund||4,063,101|536,776|295,815|376,479||4,680,541|
|Designated
funds||||||||
|5 (V)RGJ Trust||143,588|1,955|8,058|11,686||149,171|
|Olflicers Fund||13,945|53,396|30,536|||36,805|
|RGBW Fund||||||||
|||4,220,634|592,127|334,409|388,165||4,866,517|
|Restricted
funds||||||||
|Hatton Bequest Fund||40,650|576|1,164|3,446||43,508|
|Lawrence Bequest|Fund|395,258|5,526|21,577|33,039||412,246|
|RGJManagement|Fund|1,235,247|17,737|69,179|102,797||1,286,602|
|Rifles Collection Curators Fund||||||||
|Light Infantry
Fund||112,836|17,027|760|9,668||138,771|
|||1,783,991|40,866|92,680|148,950||1,881,127|
|TOTALFUNDS||6,004,625|632,993|427,089|537,115||6,747,644|
|||Balance at|Incoming|Resources|Investment||Balance at|
|---|---|---|---|---|---|---|---|
|||01.01.20|resources|expended|gains/(losses)|Transfers|31.12.20|
|||f.||8|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|
|||3,998,511|281,226|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|
|RGJManagement|Fund|1,190,863|23,104|39,906|61,186||1,235,247|
|Light Infantry
Fund||105,567|2,566|584|5,287||112,836|
|||1,726,283|33,456|63,121|87,373||1,783,991|
|TOTAL FUNDS||5,724,794|314,682|333,481|298,630||6,004,625|
##
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##
##
##
||||||Year ended|Year ended|
|---|---|---|---|---|---|---|
||||||31.12.2021|31.12.2020|
||||||K||
|INCOME|FROM||||||
|Donations|and legacies||||||
|Regimental|Subscriptions||(Riflemen|and Officers)|164,373|149,752|
|Regimental|Subscriptions||(Officers)||34,987|34,059|
|Donations|and legacies||||262,009|9,989|
|Donations|(Light Infantry)||||11|503|
|Rifles Direct Income|||||7,595|214|
|Book sales|(Light Infantry)||||1,986|1,291|
|Sale ofassets and other items (see note 8)|||||64,184||
||||||535,145|195,808|
|Other trading
activities|||||||
|Magazine|income||||9,227|7,787|
|Investment|income||||||
|Dividends|and interest||||88,612|111,036|
|Deposit account interest|||||9|51|
||||||88,621|111,087|
|Total|||||632,993|314,682|
|EXPENDITURE ON|||||||
|Raising funds|||||||
|Investment|management|fees|||25,309|23,124|
|Regimental|magazine||||16,456|11,493|
||||||41,765|34,617|
|Charitable|activities||||||
|Recruiting|costs||||19,537|21,685|
|Honour boards etc|||||12,805|4,999|
|Wreaths and rememberance|||||||
|Travel expenses (Regional|||Colonels|and Advisory Board)|657|467|
|Adventure|training/sports||sponsored|through RHQ|1,150|1,650|
|Band and|Bugles expenses||||||
|Officers Fund expenditure|||||16,561|30,545|
|Chronicle|contribution||||2,031|4,000|
|Rifles Association|||||4,059|59|
|Divisional|colonel||||3,832|3,139|
||||||60,632|66,544|
##
##
||||||Year ended|Year ended|
|---|---|---|---|---|---|---|
||||||31.12.2021|31.12.2020|
|Charitable
activities|continued||||60,632|66,544|
|StCross Cricket Ground|||||10,000|10,000|
|Battlefield
study/tours|||||||
|Marketing
and family|support||||||
|Buglers|||||||
|Freedom parades|||||838||
|Grants (see note 8)|||||168,014|154,531|
|RCO salary|||||17,500|5,250|
|Reunion/gathering
costs||||||1,020|
|RGJ Management
Fund costs|||||16|105|
|Light Infantry
Management|||Fund costs||114|77|
|Regimental
awards|||||1,700||
|Awards
dinner|||||19,790||
||||||278,604|237,527|
|Support costs|||||||
|Postage and stationery|||||365|790|
|Publications|||||606|2,100|
|IT and admin support|and|equipment|||7,544|9,582|
|Membership
and subscriptions|||||153|90|
|Equipment
and maintenance||||and repairs|6,491|12,022|
|Trustee honoraria||||||2,500|
|Staffhonoraria|||||10,000|15,500|
|Insurance|||||3,815|4,469|
|Meeting costs|||||72|175|
|Regimental
secretary|expenses||||51|45|
|Colonel Comdts Expenses|||||1,284|306|
|Accountancy|||||5,390|6,998|
|Auditors'
remuneration|||||6,765|6,760|
|Rifles collection - 9 Statuettes||||&om sale ofassets by melting|64,184||
|down broken and unused||silver|||||
||||||106,720|61,337|
|Total|||||427,089|333,481|
|Net (losses)/gains
on|investments||||537,115|298,630|
|Net (expenditure)/income|||||743,019|279,831|
##
||||5(V)RCJ|Officers|RGBW||
|---|---|---|---|---|---|---|
||||Trust|Fund|Fund|Total|
|INCOME FROM|||||||
|Donations
and legacies||||14,790||14,790|
|Subscriptions||||34,987||34,987|
|Investment
income|||1,955||9,419|11,374|
|Bugle sales||||3,619||3,619|
|Other income|||||644,550|644,550|
|Total|||1,955|53,396|653,969|709,320|
|EXPENDITURE|ON||||||
|Grants|||7,500|8,975||16,475|
|Chronicle/Bugle
Publications||||16,561||16,561|
|Chronicle honoraria|||||||
|St Cross||||5,000||5,000|
|Adventure
trmning|||||||
|Investment
management||fees|558||2,688|3,246|
|Total|||8,058|30,536|2,688|41,282|
|Net (losses)/gains|on investments||11,686||56,314|68,001|
|Net (expenditure)/income|||5,583|22,860|707,596|736,039|
|Nct movement
in|funds||5,583|22,860|707,596|736,039|
|RECONCILIATION||OFFUNDS|||||
|Total funds brouglit forward|||143,588|13,945||157,533|
|TOTAL FUNDS|CARRIED FORWARD||149,171|36,805|707,596|893,572|
##
##
|||Hatton|Lawrence|RGJ|Light||
|---|---|---|---|---|---|---|
|||Bequest|Bequest|Management|Infantry||
|||Fund
8|FundI|Fund
g|Fund
g|Total|
|INCOME FROM|||||||
|Donations
and legacies|||||15,259|15,259|
|Book sales|||||210|210|
|Investment
income||576|5,526|17,737|1,558|25,397|
|Total||576|5,526|17,737|17,027|40,866|
|EXPENDITURE ON|||||||
|Grants||1,000|20,000|64,116|200|85,316|
|Meeting costs|||||||
|Postage and stationery||||16|114|130|
|Wreaths and rememberance|||||||
|Investment
management|fees|164|1,577|5,047|446|7,234|
|Total||1,164|21,577|69,179|760|92,680|
|Net (losses)/gains
on investments||3,446|33,039|102,797|9,668|148,950|
|Net (expenditure)/income||2,858|16,988|51,355|25,935|97,136|
|Transfers between funds|||||||
|Net movement
in funds||2,858|16,988|51,355|25,935|97,136|
|RECONCILIATION|OF FUNDS||||||
|Total funds brought
forward||40,650|395,258|1,235,247|112,836|1,783,991|
|TOTAL FUNDS CARRIED FORWARD||43,508|412,246|1,286,602|138,771|1,881,127|
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