THE CENTRAL AMENITIES FUND
HMS RALEIGH
ANNUAL REPORT AND FINANCIAL STATEMENTS
For Period
1 December 2024 to 30 November 2025
Registered Charity No. 1132053
Trustees’ Annual Report and Comments
| Central Amenities Fund | |
|---|---|
| HMS RALEIGH | |
| Charity Registered No: | 1132053 |
| Covering the Accounting Year: | 1 December 2024 to 30 November 2025 |
| Address: | HMS RALEIGH |
| Torpoint | |
| E Cornwall PL12 2PD | |
| Governing Document: |
Constitution |
| Objects: | Promotion of the Military Efficiency and Operational |
| Effectiveness of the Armed Forces by the provision of | |
| Amenities to Service personnel serving in | |
| His Majesty’s Ship Raleigh. | |
| Trustee: | Captain R J Roe Royal Navy (until 31 July 2025) |
| Captain J H D Ussher Royal Navy (from 1 August 2025) | |
| Trustee selection method: | Appointed as such by the Naval Secretary. |
| Bankers: | Lloyds TSB |
| Royal Parade | |
| Plymouth | |
| Independent Examiner: | P A Nicholls MBE MAAT |
| 5 Nursery Road | |
| Havant | |
| Hants PO9 3BG | |
| Activities and Achievements: | To have resources available for expenditure on improvements |
| to the quality of life and the engenderment of espirit de corps. | |
| The fund continued to support sporting and leisure activities | |
| and provide a central bank for a number of Service and other | |
| funds. | |
| Financial Review: | On its normal business the CAF made a gain of £23.8K mainly |
| because of Raleigh Enterprise donations. In addition, it made | |
| an unrealised gain of £22.8K on its investments. It ended the | |
| year worth £747.9K, of which £260K was represented by Gutter | |
| Tor and property. Its bank account held £112.8K which easily | |
| covered liabilities, mainly to other funds, of £33K. | |
| Investment Selection Policy: | £310K was invested in a variety of investments, mainly |
| medium risk, managed by Hansford Bell. | |
| Financial Reserves Policy: | The Trustee has considered the level of reserves to retain, |
| appropriate to the charity’s needs. These are set at £310K and | |
| are held in investments. This will allow the fund to continue for |
twelve months without income and to fund capital projects. The Trustee aims to ensure that the charity will be able to fulfil its charitable objectives even if there is a temporary shortfall in income and unexpected expenditure. The Trustee will endeavour not to set aside funds unnecessarily. Grant Policy: Grants are paid for capital projects to enhance amenities, and small grants are paid to individuals to support sporting activities. Risk Assessment: The Trustee reviews the major risks to which the charity is exposed, and systems have been established to manage those risks and believes that by maintaining the free reserves stated it would provide sufficient resources in the event of adverse conditions. Public Benefit Statement: This fund provides public benefit by assisting Service personnel to perform their roles more effectively within the Armed Forces of the Crown. It does this by providing and supporting leisure and sporting amenities. This assistance enables Service personnel to face the challenges and danger associated with military service by developing and maintaining teamwork, spirit and attitude, and morale. As a result, the fund promotes the efficiency of the Armed Forces of the Crown by enhancing the Royal Navy’s and Royal Marines’ capability to undertake the roles demanded of it including the defence of the United Kingdom and its interests.
I confirm that I have paid due regard to the Charity Commission of England and Wales’s guidance on public benefit when deciding what activities, the charity should undertake.
Declaration:
I declare, in my capacity of Charity Trustee, that I have approved the above report.
Signature Signed on Original Name Captain J H D Ussher Royal Navy. Appointment Commanding Officer and Sole Managing Trustee Date 24 January 2026
HMS RALEIGH CENTRAL AMENITIES FUND
Registered Charity No 1132053
BALANCE SHEET
30-Nov-25
| Fixed Assets Notes Gutter Tor 500,000.00 £ Property 7 9,990.00 £ True Potential 310,202.83 £ Total Fixed Assets Current Assets Debtors & Prepayments 8 4,599.00 £ Virgin Money 120 Day Notice Account 84,403.77 £ Virgin Money 30 Day Notice Account 7,815.71 £ Bank Account 112,790.45 £ Cash 1,102.45 £ 210,711.38 £ Current Liabilities Creditors 9,9A,9B,9C 33,017.77 £ Net Current Assets Long Term Liability Nuffield Trust 9D Total Net Assets Approved on 28 January 2026 |
30-Nov-24 500,000.00 £ 26,080.00 £ 287,365.12 £ 820,192.83 £ 15,691.00 £ 81,388.68 £ 7,650.14 £ 65,921.39 £ 264.51 £ 170,915.72 £ 33,064.40 £ 177,693.61 £ (250,000.00) £ 747,886.44 £ d Ol |
813,445.12 £ 137,851.32 £ (250,000.00) £ |
|---|---|---|
| 701,296.44 £ |
||
Signed on Original
Captain J H D Ussher Royal Navy Sole Managing Trustee
1
RAL-CAFMainNovBS25ZBALANCE SHEET
HMS RALEIGH CENTRAL AMENITIES FUND
STATEMENT OF FINANCIAL ACTIVITIES
| Income Notes Voluntary Income Charitable Activities Other Trading Activities Investment Income Other Income Total Income 3 Expenditure Raising Funds Charitable Activities Other Costs Total Expenditure 4 Net Income Gain on Investments Net Movement of Funds Total Funds Brought Forward 1 Dec 24 Total Funds Carried Forward 30 Nov 25 |
51,263.34 £ 40,808.78 £ 10,344.30 £ 12,706.66 £ 2,575.00 £ ~~t~~ 117,698.08 £ 1,018.90 £ 88,366.89 £ 4,560.00 £ 93,945.79 £ 23,752.29 £ 22,837.71 £ 46,590.00 £ 701,296.44 £ 747,886.44 £ 2025 |
2024 26,182.90 £ 22,397.50 £ 9,510.60 £ 10,929.02 £ 4,072.00 £ |
|---|---|---|
73,092.02 £ |
||
| 653.07 £ 48,731.07 £ 6,222.00 £ |
||
| 55,606.14 £ |
||
| 17,485.88 £ 42,480.34 £ 59,966.22 £ |
||
| 641,330.22 £ |
||
| 701,296.44 £ |
2
HMS RALEIGH CENTRAL AMENITIES FUND
Notes to the Accounts dated 30 Nov 2025
Note 1 - Accounting policies
a. The financial statements are prepared under the historic cost convention (as modified by the revaluation of fixed asset investments) and in accordance with applicable accounting standards: Charities Statement of Recommended Practice. UK Accounting Standards and the Charities Acts.
Income
-
a. Donations are included in the Statement of Financial Activities (SOFA) when the CAF becomes entitled to the donation or grant and it is reasonably certain that it will be received.
-
b. Incoming resources from fund raising are reported gross in the SOFA
-
c. Intangible income is not included in the accounts.
-
d. The CAF receives no unpaid volunteer help.
-
e. Investment income is included in the accounts when receivable.
Expenditure and Liabilities
a. Liabilities are recognised as soon as there is a legal or constructive obligation committing the CAF to the expenditure.
Assets
a. Tangible fixed assets are capitalised if they can be used for more than one year and cost at least £50. They are valued at cost or a reasonable value on receipt. The CAF does not have a policy of revaluation. Depreciation is straight line and over the estimated life of the item.
- b. Stocks are valued at the lower of cost or market value.
Note 2 - Investments
Investments were transferred to True Potential Investments LLP in 2024.
| Purchases Dec-17 (Fidelity Funds) Feb-18 Value at 30 Nov 24 Gain on Revaluation Value at 30 Nov 25 |
150,000.00 £ 100,000.00 £ |
|---|---|
| 250,000.00 £ |
|
| 287,365.12 £ 22,837.71 £ |
|
| 310,202.83 £ |
3
Note 3 - Income (General Fund & Designated Funds)
| Voluntary Income Raleigh Enterprises China Fleet Club Income Boxing Closed Funds Previous Year Social Refunds Grants/Donations Charitable Activities Gutter Tor Sports Income Gig Insurance Claim Argyle Event Miscellaneous Other Trading Activities B&B Booklet Car Wash Dog Passes Recreation Passes Investment Income Interest True Potential Dividend Fidelity Dividend Other Income (As Agent) Passing Out Parades Total Income |
45,250.00 £ 25,500.00 £ - £ 195.00 £ 1,000.00 £ - £ 3,767.35 £ - £ 896.91 £ - £ 349.08 £ 487.90 £ 51,263.34 £ 26,182.90 £ 28,890.00 £ 20,390.00 £ 1,513.79 £ 2,007.50 £ 9,500.00 £ - £ 655.00 £ - £ 249.99 £ - £ 40,808.78 £ 22,397.50 £ 680.00 £ 1,240.00 £ 1,709.30 £ 1,524.60 £ 5,730.00 £ 4,998.00 £ 2,225.00 £ 1,748.00 £ 10,344.30 £ 9,510.60 £ 3,106.66 £ 3,596.00 £ 9,600.00 £ 3,200.00 £ - £ 4,133.02 £ 12,706.66 £ 10,929.02 £ 2,575.00 £ 4,072.00 £ 117,698.08 £ 73,092.02 £ 2024 2025 |
45,250.00 £ 25,500.00 £ - £ 195.00 £ 1,000.00 £ - £ 3,767.35 £ - £ 896.91 £ - £ 349.08 £ 487.90 £ 51,263.34 £ 26,182.90 £ 28,890.00 £ 20,390.00 £ 1,513.79 £ 2,007.50 £ 9,500.00 £ - £ 655.00 £ - £ 249.99 £ - £ 40,808.78 £ 22,397.50 £ 680.00 £ 1,240.00 £ 1,709.30 £ 1,524.60 £ 5,730.00 £ 4,998.00 £ 2,225.00 £ 1,748.00 £ 10,344.30 £ 9,510.60 £ 3,106.66 £ 3,596.00 £ 9,600.00 £ 3,200.00 £ - £ 4,133.02 £ 12,706.66 £ 10,929.02 £ 2,575.00 £ 4,072.00 £ 117,698.08 £ 73,092.02 £ 2024 2025 |
|---|---|---|
| 28,890.00 £ 1,513.79 £ 9,500.00 £ 655.00 £ 249.99 £ |
||
| 680.00 £ 1,709.30 £ 5,730.00 £ 2,225.00 £ |
||
| 3,106.66 £ 9,600.00 £ - £ |
||
| 73,092.02 £ |
4
Note 4 - Expenditure
| Raising Funds Car Wash Recreational Passes Dog Passes Charitable Activities Operating Costs Chaplaincy Individual's Grants Socials/CLD Lourdes China Fleet Club Passes Argyle Event Catering Team Building Comedy Night Well Being King's Portrait RM Band AT RNSMS Coins Café Drawing JR Bar Gutter Tor Roebuck Theatre Sports Expenditure Gig Trophies Internet & Phone Insurance TV Miscellaneous Expenditure Governance Costs Independent Examination Fees Support Costs Office Administration Cardnet Charges Depreciation Other Expenses (As Agent) RNSMS Contingency Fund Passing Out Parades Total Expenditure |
258.84 £ 226.45 £ - £ 88.00 £ 760.06 £ 338.62 £ 1,018.90 £ 653.07 £ 3,350.00 £ 2,300.00 £ 365.36 £ 3,559.78 £ 2,090.00 £ 2,625.00 £ 100.00 £ 1,000.00 £ - £ 1,734.00 £ 1,800.00 £ - £ 559.40 £ - £ 195.00 £ - £ 600.00 £ - £ 750.00 £ - £ 1,770.00 £ - £ 1,040.00 £ - £ 550.00 £ - £ 971.10 £ - £ 2,134.92 £ - £ 37,631.53 £ 21,790.07 £ 560.63 £ 669.89 £ 9,382.68 £ 4,860.17 £ 566.58 £ 936.52 £ 176.00 £ 182.25 £ 1,099.70 £ 757.84 £ 2,055.59 £ 2,304.47 £ 1,036.93 £ - £ 345.40 £ - £ 1,250.00 £ 1,140.00 £ 47.14 £ 41.09 £ 1,325.94 £ 239.99 £ 16,612.99 £ 4,590.00 £ 88,366.89 £ 48,731.07 £ 2,000.00 £ 2,000.00 £ 2,560.00 £ 4,222.00 £ 4,560.00 £ 6,222.00 £ 93,945.79 £ 55,606.14 £ 2025 2024 |
|---|---|
Note 5 - Paid Employees
There were no paid employees.
Note 6 - Trustees and Other Related Parties
-
a. No expenses or emoluments have been paid to the Sole Managing Trustee.
-
b. There are no amounts due to or from the Sole Managing Trustee.
-
c. The Sole Managing Trustee is also the trustee of the charitable funds that use the CAF as their Central Bank (Note 9A).
5
Note 7 - Fixed Assets - Fixtures, Fittings and Equipment
| Total Value at 30 Nov 24 Addition Less Depreciation Less Write Off Property Value at 30 Nov 25 |
26,080.00 £ 522.99 £ (4,712.99) £ (11,900.00) £ |
|---|---|
| 9,990.00 £ |
Note 8 - Miscellaneous Debtors (Payable in less than one year)
| Interest Accrued Gutter Tor Fees Christmas Socials 25 Prepaid Sports Prepaid Insurances Prepaid Trophy Hire Prepaid |
244.00 £ 290.00 £ 1,170.00 £ 520.00 £ 2,316.00 £ 59.00 £ |
|---|---|
| 4,599.00 £ |
Note 9 - Creditors (payable in less than one year)
| Gutter Tor Repairs BT Accounts Examination |
582.50 £ 181.91 £ 1,250.00 £ |
|---|---|
| 2,014.41 £ |
Note 9A - Other Service (Charitable) Funds using CAF as a bank
| Church Funds Church of England CSFC RC Church |
1,116.55 £ 2,139.63 £ 216.89 £ |
|---|---|
| 3,473.07 £ |
Note 9B - Approved Funds using CAF as a bank.
| Apprenticeship Reward Scheme Chaplaincy Catering Fund Jupiter Point RYA Fund Op Leave Package Butties Seamanship STO Dog SLA Fees RNSMS Wellbeing Fund RNSMS Contingency Fund Capita Social Grass Roots Suspense Note 9C - Charity Funds RNRM Charity Grants Unspent |
286.01 £ 443.96 £ 730.22 £ 3,854.20 £ 479.68 £ 3,615.24 £ 1,975.00 £ 1,939.42 £ 10,000.00 £ 720.00 £ 450.00 £ 30.00 £ |
|---|---|
| 24,523.73 £ |
|
| 3,006.56 £ |
|
| 3,006.56 £ |
6
Note 9D - Liability to Nuffield Trust (over one year) £ 250,000.00
Gutter Tor was purchased in 1986 and later rebuilt. The Nuffield Trust provided a 50% grant. If Gutter Tor is sold 50% of the net proceeds must be repaid to the Nuffield Trust.
Note 10 - Other Information
-
a. The CAF does not have any material commitments not provided for in the accounts
-
b. The CAF has not given any guarantees to any third party that could be called on at the year end. c. The CAF has not granted any loans.
-
d. The CAF did not make any ex gratia payments during the year.
Declarations
-
a. The Trustee has not changed the year end date nor the length of the CAF's financial year
-
b. All the CAF's operations are continuing operations.
-
c. The CAF has no intangible assets (other than office space provided by MOD)
-
d. There were no interfund loans outstanding at the balance sheet date.
-
e. None of the CAF's functional assets have been revalued during the year and the CAF does not have a policy of revaluation of these assets.
-
f. The CAF has no material fixed assets which have not been capitalised and included in the Balance Sheet.
7
Independent Examiner’s Report to the Trustee of the Central Amenities Fund HMS Raleigh. Registered Charity No. 1132053
I report on the accounts of the Charity for the year ended 30 November 2025 which are set out in pages 1 to 7 and accompanying notes.
Responsibilities and basis report
The charity’s trustee is responsible for the preparation of the accounts. The charity’s trustee considers that an audit is not required for this year under section 144(2) of the Charities Act 2011 (The Charities Act) and that an independent examination is needed.
I report in respect of my examination of the charity’s accounts carried out under section 145 of the 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 Act.
Independent examiner’s statement
I have completed my examination; I confirm that no material matters have come to my attention which gives me cause to believe that in any material respect:
-
The accounting records were not kept in accordance with section 130 of the Charities Act; or
-
The accounts did not accord with the accounting records; or
-
The accounts did not comply with the applicable requirements concerning the form and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than in 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.
Signed on Original
P A Nicholls MBE MAAT 5 Nursery Road Havant Hants PO9 3BG
28 January 2026