| Page | ||
|---|---|---|
| Report ofthe Trustees | I to 10 | |
| Report ofthe Independent Auditors |
11 to 13 | |
| Statement ofFinancial | Activities | |
| Balance Sheet | ||
| Cash Flow Statement | 16 | |
| Notes to the Financial | Statements | 17to 26 |
| Detailed Statement of | Financial Activities | 27 to 29 |
| Year ended | Year ended | ||||||
|---|---|---|---|---|---|---|---|
| 31.12.22 | 31.12.21 | ||||||
| Unrestricted | Restricted | Total | Total | ||||
| funds | funds | funds | funds | ||||
| Notes | 8 | ||||||
| INCOME FROM | |||||||
| Donations and legacies |
781,995 | 619 | 782,614 | 651,299 | |||
| Investment income |
287,387 | 19,565 | 306,952 | 231,775 | |||
| Charitable activities |
|||||||
| Green Jacket Close | 63,164 | 63,164 | 63,614 | ||||
| Total | 1,069,382 | 83,348 | 1,152,730 | 946,688 | |||
| EXPENDITURE | ON | ||||||
| Raising funds | 70,589 | 4,713 | 75,302 | 74,154 | |||
| Charitable activities |
795,127 | 138,915 | 934,042 | 617,066 | |||
| Total | 865,716 | 143,628 | 1,009,344 | 691,221 | |||
| Net (losses)/gains | on investments | (1,244,998) | (82,181) | (1,327,179) | 1,496,849 | ||
| Net (expenditure)/income | (1,041,332) | (142,461) | (1,183,793) | 1,752,316 | |||
| Transfer between | funds | ||||||
| Net movement in |
funds | (1,041,332) | (142,461) | (1,183,793) | 1,752,316 | ||
| RECONCILIATION | OF FUNDS | ||||||
| Total funds brought | forward | 17,281,670 | 6,590,404 | 23,872,074 | 22,119,758 | ||
| TOTAL FUNDS | CARRIED FORWARD | 16,240,338 | 6,447,943 | 22,688,281 | 23,872,074 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| Notes | ||||
| FIXEDASSETS | ||||
| Tangible assets | 13 | 5,345,000 | 5,345,000 | |
| Investments | 14 | 17,173,745 | 18,270,924 | |
| 22,518,745 | 23,615,924 | |||
| CURRENT ASSETS | ||||
| Debtors | 15 | 103,559 | 195,187 | |
| Cash at bank | 16 | 137,650 | 129,803 | |
| 241,209 | 324,990 | |||
| CREDITORS | ||||
| Amounts falling due within |
one year | 17 | (71,673) | (68,840) |
| NET CURRENT ASSETS | 169,536 | 256,150 | ||
| TOTAL ASSETSLESSCURRENT | LIABILITIES | 22,688,281 | 23,872,074 | |
| NET ASSETS | 22,688,281 | 23,872,074 | ||
| FUNDS | 19 | |||
| Unrestricted funds |
16,240,338 | 17,281,670 | ||
| Restricted funds |
6,447,943 | 6,590,404 | ||
| 22,688,281 | 23,872,074 |
| 2022 | 2021 | |||||||
|---|---|---|---|---|---|---|---|---|
| Notes | K | |||||||
| Cash flows from | operating | activities: | ||||||
| Cash generated from operations |
237,535 | 144,255 | ||||||
| Net cash provided | by (used | in) operating | activities | 237,535 | 144,255 | |||
| Cash flows from | investing | activities | ||||||
| Purchase offixed | asset investments | (4,773,957) | (5,176,499) | |||||
| Sale offixed asset | investments | 4,543,957 | 5,051,499 | |||||
| Interest received | 311 | 10 | ||||||
| Net cash provided | by (used | in) investing | activities | (229,689) | (124,990) | |||
| Change in cash and cash equivalents |
in | the reporting | period | 7,846 | 19,264 | |||
| 129,804 | 110,540 | |||||||
| Cash and cash equivalents | at the end | of | the reporting | period | 137,650 | 129,804 |
| 2022 | 2021 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Net (expenditure)/income |
for | the | reporting | period | (as | per | the | |||
| statement offinancial activities) |
(1,183,793) | 1,752,316 | ||||||||
| (Gain)/Loss on investments |
1,327,179 | (1,496,849) | ||||||||
| Interest received | (311) | (10) | ||||||||
| (Increase)/Decrease | in debtors | 91,628 | (104,178) | |||||||
| Increase/(Decrease) | in creditors | 2,833 | (7,025) | |||||||
| ANALYSIS OF CHANGES | IN | NET | (DEBT)/FUNDS | |||||||
| At | 01.01.22 | Cash flow | At 31 12.22 | |||||||
| Net cash | ||||||||||
| Cash at bank | 129,804 | 7,846 | 137,650 | |||||||
| 129,804 | 7,846 | 137,650 | ||||||||
| Total | 129,804 | 7,846 | 137,650 |
| Unrestricted | Restricted | Year ended | Year ended | ||||||
|---|---|---|---|---|---|---|---|---|---|
| funds | funds | 31.12.22 | 31.12.21 | ||||||
| Regimental | subscriptions | 131,299 | 131,299 | 147,284 | |||||
| Subscriptions - RGJ Ladies Guild |
565 | ||||||||
| Donations | - general | 101,473 | 92 | 101,565 | 7,369 | ||||
| Donations | —C4C appeal | 64,560 | 64,560 | 130,764 | |||||
| Donations | —Joanne | Booth-Mason | Memorial | Fund | 527 | 527 | 569 | ||
| Legacy income | 484,216 | 484,216 | 364,748 | ||||||
| 781,995 | 619 | 782,614 | 651,299 | ||||||
| INVESTMENT INCOME | |||||||||
| Unrestricted | Restricted | Year ended | Year ended | ||||||
| funds | funds | 31.12.22 | 31.12.21 | ||||||
| f. | |||||||||
| Investment | income | —general | 287,075 | 287,075 | 216,377 | ||||
| Investment | income | - RGJ Ladies | Guild | 4,160 | 4,160 | 3,170 | |||
| Investment | income | —GJ Close | 7,234 | 7,234 | 5,556 | ||||
| Investment | income | - Peter Bateman bursary | 282 | 282 | 230 | ||||
| Investment | income | —Joanne Booth Mason | Memorial | Fund | 173 | 173 | 210 | ||
| Investment | income | —Margaret | Phillips Legacy | 7,716 | 7,716 | 6,222 | |||
| Deposit account interest - general | 311 | 311 | 10 | ||||||
| 287,387 | 19,565 | 306,952 | 231,775 | ||||||
| CHARITABLE ACTIVITIES | |||||||||
| Year ended | Year ended | ||||||||
| 31.12.22 | 31.12.21 | ||||||||
| Activity | |||||||||
| Maintenance charge |
Green Jacket Close | 63,164 | 63614 |
| Unrestricted | Restricted | Year ended | Year ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| funds | funds | 31.12.22 | 31.12.21 | |||||||||
| Investment management |
fees | 69,151 | 4,713 | 73,863 | 7i,141 | |||||||
| C4C fundratsmg | costs | 1,438 | 1,438 | 3,013 | ||||||||
| 70,589 | 4,713 | 75,302 | 74,154 | |||||||||
| CHARITABLE ACTIVITIES | COSTS | |||||||||||
| Grant funding | Support | |||||||||||
| Direct | ofactivities | costs | ||||||||||
| costs | (see note 7) | (see note 8) | Totals | |||||||||
| 8 | ||||||||||||
| RHQ | 213,492 | 491,680 | 89,955 | 795,127 | ||||||||
| Green Jacket Close | 85,367 | 357 | 85,723 | |||||||||
| RGJ Ladies Guild | 3,950 | 125 | 4,075 | |||||||||
| Peter Batsman | bursary | 5,605 | 5,605 | |||||||||
| Joanne Booth-Mason | Memorial | Fund | 3,478 | 3,478 | ||||||||
| Margaret Philhps Legacy Fund |
40,034 | 40,034 | ||||||||||
| 298,858 | 544,747 | 90,436 | 934,042 | |||||||||
| GRANTS PAYABLE | ||||||||||||
| Year ended | Year ended | |||||||||||
| 31.12.22 | 31.12.21 | |||||||||||
| 8 | K | |||||||||||
| Grants to other |
Channes | 60,000 | 60,000 | |||||||||
| Through RHQ | 431,680 | 333,818 | ||||||||||
| RGJ Ladtes Gudd | 3,950 | 2,625 | ||||||||||
| Grants through | Peter | Bateman | Bursary | 5,605 | 2,670 | |||||||
| Grants through | Joanne | Booth | Mason Memonal | Fund | 3,478 | 4,836 | ||||||
| Grants through | John | Harris (DLI) Bequest Fund | ||||||||||
| Grants through |
Margaret | Philltps | Legacy Fund | 40,034 | 23,995 | |||||||
| 544,747 | 427,944 | |||||||||||
| Total ofgrants | paid | during the | year was as follows: | |||||||||
| Year ended | Year ended | |||||||||||
| 31.12.22 | 31.12.21 | |||||||||||
| g | ||||||||||||
| ABF (Thc Soldiers' | Charity) | 60,000 | 60,000 | |||||||||
| Grants to battahons | (Through | RHQ) | 53,200 | 60,000 | ||||||||
| C4C (Through | RHQ) | 63,586 | 42,968 | |||||||||
| Through RHQ | 314,894 | 230,850 | ||||||||||
| 491,680 | 393,818 | |||||||||||
| RGJ Ladtes Guild Christmas | grants | 3,950 | 2,625 | |||||||||
| Peter Batsman | bursary | grants | 5,605 | 2,670 | ||||||||
| Joanne Booth-Mason | Memorial | Fund grants | 3,478 | 4,836 | ||||||||
| Margaret Phillips Legacy Fund |
40,034 | 23,995 | ||||||||||
| 544,747 | 427,944 |
| Investment management |
fees |
|---|---|
| C4C fundratsmg costs |
| SUPPO | RT COSTS | ||||
|---|---|---|---|---|---|
| Year ended | Year ended | ||||
| Management | Governance | 31.12.22 | 31.12.21 | ||
| RHQ | 82,937 | 7,018 | 89,955 | 66,681 | |
| Green Jacket Close | 357 | 357 | 348 | ||
| RGJ Ladies Guild | |||||
| 83,294 | 7,018 | 90,312 | 67,030 | ||
| GOVERNANCE COSTS | |||||
| Unrestricted | Restricted | Year ended | Year ended | ||
| funds | funds | 31.12.22 | 31.12.21 | ||
| g | |||||
| Fidelity | insurance | 1,116 | |||
| Auditors' | remuneration | 7,018 | 7,018 | 6,354 | |
| 7,018 | 7,018 | 7,470 |
| STAFF COSTS | ||||
|---|---|---|---|---|
| Year ended | Year ended | |||
| 31.12.22 | 31.12.21 | |||
| Wages and salaries | 65,043 | 42,269 | ||
| The average monthly | number ofemployees | during the year was as foilows: | ||
| Year ended | Year ended | |||
| 31.12.22 | 31.12.21 | |||
| Green Jacket Close | and RHQ support | 3 | 3 |
| Unrestricted | Restricted | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| INCOME FROM | ||||
| Donations and legacies |
649,756 | 1,543 | 651,299 | |
| Investment income |
216,387 | 15,388 | 231,775 | |
| Charitable activities |
||||
| Green Jacket Close | 63,614 | 63,614 | ||
| Total | 866,143 | 80,545 | 946,688 | |
| EXPENDITURE ON | ||||
| Raising funds | 69,450 | 4,704 | 74, 154 | |
| Charitable activities |
500,436 | 116,631 | 617,067 | |
| Total | 569,886 | 121,335 | 691,221 | |
| Net gains/(losses) on investments |
1,397,261 | 99,588 | 1,496,849 | |
| Net income/(expenditure) | 1,693,518 | 58,798 | 1,752,316 | |
| Trasnfer between funds |
||||
| Net movement in funds |
1,693,518 | 58,798 | 1,752,316 | |
| RECONCILIATION | OF FUNDS | |||
| Total funds brought forward | 15,588,152 | 6,531,606 | 22,119,758 | |
| TOTAL FUNDS CARRIED FORWARD | 17,281,670 | 6,590,404 | 23,872,074 |
| Freehold | |
|---|---|
| property | |
| E | |
| MARKET VALUE | |
| B/fwd | 5,345,000 |
| Revaluation | |
| 5,345,000 | |
| NET BOOK VALUE | |
| At 31December 2022 | 5,345,000 |
| At 31 December 2021 | 5,345,000 |
| Listed | |
|---|---|
| investments | |
| g | |
| MARKET VALUE | |
| At I January 2022 | 18,270,924 |
| Additions | 4,773,957 |
| Disposals | (4,543,957) |
| Revaluation | (1,327,179) |
| At 31 December 2022 | 17,173,745 |
| NET BOOK VALUE | |
|---|---|
| At 31 December 2022 | 17,173,745 |
| At 31 December 2021 | 18,270,924 |
| Market | ||||
|---|---|---|---|---|
| value | ||||
| g | ||||
| Within | the | United | Kingdom | 6,845,047 |
| Outside | the | United | Kingdom | 10,328,698 |
| 17,173,745 |
| 15. | DEBTORS | |||
|---|---|---|---|---|
| 2022 | 2021 | |||
| Other debtors | 103,559 | 195,187 | ||
| 16. | CASH AT BANK | |||
| Cash at bank is represented by: |
||||
| 2022 | 2021 | |||
| 8 | 8 | |||
| Cash held by RHQ | 132,190 | 128,332 | ||
| Cash held by RGJ Ladies | Guild | 5,242 | 1,203 | |
| Cash held by Rifleman's | Air Society | 218 | 269 | |
| 137,650 | 129,803 | |||
| 17. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2022 | 2021 | |||
| E | ||||
| Other creditors | 71,673 | 68,840 |
| Unrestricted | Restricted | Total | Total | ||||||
|---|---|---|---|---|---|---|---|---|---|
| funds | funds | 2022 | 2021 | ||||||
| f | f | ||||||||
| Fixed assets | 720,000 | 4,625,000 | 5,345,000 | 5,345,000 | |||||
| Investments | 16,116,384 | 1,057,360 | 17,173,744 | 16,649,073 | |||||
| Current assets |
(524,601) | 765,810 | 241,210 | 201,549 | |||||
| Current liabilities |
(71,445) | (228) | (71,673) | (75.865) | |||||
| 16,240,338 | 6,447,943 | 22,688,281 | 22,119,758 | ||||||
| 19. | MOVEiMKNT IN FUNDS |
||||||||
| Balance «t | Incoming | Resources | Investments | Balance at | |||||
| 01.01.2022 | resources | expended | gains/(losses) | Transfers | 31.12.2022 | ||||
| f | f. | 8 | |||||||
| Unrestricted funds |
|||||||||
| General | 17,281,670 | I 069,382 | 865 716 | (1,244 998) | 16240 338 | ||||
| Restricted funds |
|||||||||
| RGJ Ladies Guild | 256,495 | 4,252 | 5,077 | (17,887) | 237,783 | ||||
| Green Jacket Close | 5,793,361 | 70,398 | 87.466 | (30,270) | 5,746,023 | ||||
| Peter Bateman Bursary | 23,239 | 282 | 5,673 | (934) | 16,915 | ||||
| Joanne Booth-Mason | 15,414 | 700 | 3,518 | (469) | 12,126 | ||||
| John Hams (DLI) Margaret Phillips |
Bequest Fund Legacy Fund |
501,895 | 7716 | 41,894 | ~32,621) | 435,096 | |||
| 6,590,404 | 83,348 | 143,628 | (82,181) | 6,447,943 | |||||
| Comparatives for movement |
in funds | ||||||||
| Balance at | Incoming | Resources | Investments | Balance at | |||||
| 0L01.2021 | resources | expended | gains/(losses) | Transfers | 31.12.2021 | ||||
| 8 | I | f. | I | ||||||
| Unrestricted funds |
|||||||||
| General | 15,588,152 | 866,143 | 569 886 | 1,397,261 | 17,281,670 | ||||
| Restricted funds | |||||||||
| RGJ Ladies Guild | 235,291 | 4,373 | 3,597 | 20,428 | 256,495 | ||||
| Green Jacket Close | 5.772,602 | 69,170 | 84.210 | 35,799 | 5,793.361 | ||||
| Peter Bateman Bursary | 24.270 | 230 | 2,741 | 1,480 | 23,239 | ||||
| Joanne Booth-Mason | 18,414 | 550 | 4,900 | 1,350 | 15,414 | ||||
| John Hares (DLI) | Bequest Fund | ||||||||
| Margaret Phillips |
Legacy Fund | 481,029 | 6,222 | 25 887 | 40,531 | 501 895 | |||
| 6,531,606 | 80.545 | 121,335 | 99,588 | 6,590,404 | |||||
| TOTAL FUNDS | 22,119,758 | 946,688 | 691,221 | 1,496,S49 | 23,872,074 |
| Year ended | Year ended | |||||||
|---|---|---|---|---|---|---|---|---|
| 31.12.22 | 31.12.21 | |||||||
| g | ||||||||
| INCOME | FROM | |||||||
| Donations | and legacies | |||||||
| Regimental | subscriptions | 131,299 | 147,284 | |||||
| Subscriptions —RGJ Ladies Guild |
565 | |||||||
| Donations | —general | 101,565 | 7,369 | |||||
| Donations | —C4C appeal | 64,560 | 130,764 | |||||
| Donations | —Joanne | Booth-Mason | Memorial | Fund | 527 | 569 | ||
| Legacy income | 484,216 | 364,748 | ||||||
| 782,614 | 651,298 | |||||||
| Investment income |
||||||||
| Investment | income | - general | 287,075 | 216,377 | ||||
| Investment | tncome | —RGJ Ladies | Guild | 4,160 | 3,170 | |||
| Investment | income | —GJ Close | 7,234 | 5,556 | ||||
| Investment | income | - Peter Bateman bursary | 282 | 230 | ||||
| Investment | income | —Joanne Booth Mason | Memorial | Fund | 173 | 210 | ||
| Investment | income | - Margaret | Phillips Legacy | 7,716 | 6,222 | |||
| Deposit account interest - general | 311 | 10 | ||||||
| 306,952 | 231,774 | |||||||
| Charitable activities |
||||||||
| Green Jacket Close | maintenance | charge | 63,164 | 63,614 | ||||
| 1,152,730 | 946,686 | |||||||
| EXPENDITURE ON | ||||||||
| Raising funds | ||||||||
| Investment | management fees |
73,863 | 71,141 | |||||
| C4C fundraising | 1,438 | 3,013 | ||||||
| 75,302 | 74,153 | |||||||
| Charitable activities |
||||||||
| Wages | 68,742 | 46,200 | ||||||
| Insurance | —Green Jacket Close | 3,018 | 2,327 | |||||
| Green Jacket Close | —general maintenance | 27,820 | 39,396 | |||||
| Green Jacket Close | —major repairs and contingency | 39,562 | 26,677 | |||||
| Casualty | support | 260 | 3,300 | |||||
| Wreaths/ | Rememberence | 3,182 | 4,193 | |||||
| Grants | 544,747 | 427,944 | ||||||
| Tesco vouchers | 156,274 | |||||||
| 843,605 | 550,037 |
| Year ended | Year ended | ||
|---|---|---|---|
| 31.12.22 | 31.12.21 | ||
| Support costs | |||
| Postage and stationery | 484 | 460 | |
| Telephone | 856 | 449 | |
| IT support costs | 26,667 | 28,813 | |
| Rifles database | 5,000 | ||
| Training | 5,220 | ||
| Staffhonoraria | 12,000 | 12,000 | |
| Fidelity insurance | 1,116 | ||
| Professional fees |
1,590 | ||
| Accountancy | 7,083 | 7,279 | |
| Auditors remuneration |
7,018 | 6,354 | |
| Interest paid | 9 | ||
| Travel | 24,507 | 10,557 | |
| 90,436 | 67,030 | ||
| Total | 1,009,344 | 691,220 | |
| Net (losses)/gains | on investments | (1,327,179) | 1,496,849 |
| Net (expenditure)/income | (1,183,793) | 1,752,315 |
| RGJ Ladies | Green | Peter | Joanne | Joanne | John Harris | Margaret | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Guild | Jacket | Bateman | Booth-Mason | (DLI) Bequest | Phillips | ||||||
| Fund | Close | Bursary | Memorial | Fund | Fund | Legacy Fund | |||||
| 8 | |||||||||||
| INCOtME FROM | |||||||||||
| Subscriptions | |||||||||||
| Investment income |
4,160 | 7,234 | 282 | 173 | 7,716 | ||||||
| Green Jacket Close | maintenance | charge | 63,i64 | ||||||||
| Donattons | 92 | 527 | |||||||||
| Total | 4,252 | 70,398 | 282 | 700 | 7,716 | ||||||
| EXPENDITURE | ON | ||||||||||
| Wages | 14,967 | ||||||||||
| Insurance | 3,018 | ||||||||||
| Telephone | 357 | ||||||||||
| General maintenance | 27,820 | ||||||||||
| Major repairs | 39,562 | ||||||||||
| Postage and stationery | 125 | ||||||||||
| Grams payable | 3,950 | 5,605 | 3,478 | 40,034 | |||||||
| Investmcnt management |
fees | 1,002 | 1,742 | 68 | 41 | 1,859 | |||||
| Total | 5,077 | 87,466 | 5,673 | 3,518 | 41,894 | ||||||
| Nct (losses)/gains on mvestments |
-17,887 | -30,270 | -934 | -469 | -32,621 | ||||||
| Net (expenditure)/income | -18,712 | -47,338 | -6,324 | -3,288 | 0 | -66,799 | |||||
| Transfer between | funds | ||||||||||
| Net movement in |
funds | -18,712 | -47,338 | -6,324 | -3,288 | 0 | — | 66,799 | |||
| RECONCILIATION | OF FUNDS | ||||||||||
| Total funds brought | forward | 256,495 | 5,793,361 | 23,239 | 15,414 | 501,895 | |||||
| TOTAL FUNDS | CARRIED FORWARD | 237,783 | 5,746,023 | 16,915 | 12,126 | 435,096 |