2023-03-31-accounts - Royal Military Academy Sandhurst Commandant's Fund

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		Page
Report ofthe Trustees	1	to	4
Report ofthe Independent Auditors	5	to	8
Statement ofFinancial Activities
Balance Sheet		10
Cash Flow Statement
Notes to the Cash Flow Statement		12
Notes tothe Financial Statements	13	io	20
Detailed Statement ofFinancial Activities	21	to	22

						2023	2022
				Unrestricted	Restricted	Total	Total
			Notes	funds f	funds f	funds F	funds
INCOME AND	ENDOWMENTS	FROM
Donations and	legacies		2	1,000		1,000	430
Other trading activities			3	269		269	523
Investment income			4	286,291		286,291	270,932
Other income				749975		749 975
Total				1,037,535		1,037,535	271,885
EXPENDITURE	ON
Raising funds			5	(10,759)		(10,759)	(10,628)
Charitable activities			6
The Sandhurst	Collection			12,348		12,348	32,037
General sundry	grants			180,002		180,002	137,829
Depreciation on	asset used for charitable
purposes				720		720	847
SQM Infrastructure grants				412 071		412,071	380,810
Total				594,382		594 382	540 895
Net gains/(losses) on investments				~373838		~3738381	784751
NET INCOME				69,315		69,315	515,741
RECONCILIATION OF FUNDS
Total funds brought forward				9,874,595		9,874,595	9,358,854
TOTAL FUNDS	CARRIED FORWARD			9,943,910		9.943,919	9 874 595

				2023	2022
		Unrestricted	Restncted	Total	Total
		funds	funds	funds	funds
	Notes	6	F	6
FIXEDASSETS
Tangible assets Investments	11 12	4,077 9889715		4,077 9 88~ 715	4,797 9 826,768
		9,893,792		9,893,792	9,831,565
CURRENT ASSETS
Prepayments and accrued income		79,232		79,232	76,203
Cash in hand		83241		83241	53619
		162,473		162,473	129,822
CREDITORS
Amounts falling due within one year	13	(112,355)		(112,355)	(86,792)
NET CURRENT ASSETS		50,118		50,118	43,030
TOTAL ASSETSLESSCURRENT
LIABILITIES		9,943,910		9,943,910	9,874,595
NET ASSETS		9,943,910	—	9,943,910	9874,595
FUNDS	14
Unrestricted funds				9,943,910	9,874,595
TOTAL FUNDS				9943910	9,874,595

			2023	2022
		Notes	6	6
Cash flows from operating	activities
Cash generated from operations		1	183,046	~485,794)
Net cash provided by/(used	in) operating	activities	183,046	~485,794)
Cash flows from investing	activities
Purchase offixed asset investments Sale offixed asset investments Cash deposits (increase)/decrease Interest received			(300,000) (136,785) 4,447	(1,892) 300,000 (87,646) 17
Dividends received			278,914	271 223
Net cash (used in)/provided	by investing	activities	~753424)	481,702
Change in cash and cash	equivalents
in the reporting period			29,622	908
Cash and cash equivalents	at the
beginning ofthe reporting	period		53619	52,711
Cash and cash equivalents	at the end
ofthe reporting period			83,241	53.619

RECONCILIATION	OF NET INCOME TO NET CASH FLOW FROM	OF NET INCOME TO NET CASH FLOW FROM	OPERATING ACTIVITIES	OPERATING ACTIVITIES
			2023	2022
Net income for the	reporting	period (as per the Statement of
Financial Activities)			69,315	515,741
Adjustments for:
Depreciation charges			720	847
Losses/(gain) on investments			373,838	(784,751)
Interest received			(4,447)	(17)
Dividends received			(278,914)	(271,223)
(Increase)/decrease	in debtors		(3,029)	30,022
Increase in creditors			25,563	28,587
Net cash provided	by/(used	in) operations	183,046	~480,794)

ANALYSIS OF CHANGES IN NET FUNDS
	At 1.4.22	Cash flow	At 31.3.23
		6	6
Net cash
Cash at bank and in hand	53,619	29622	83241
	53,619	29,622	83,241
Total	53,619	29,622	83,241

2.	DONATIONS	AND LEGACIES	AND LEGACIES
						2023	2022
							F
	Donations					1 000	430
3.	OTHER TRADING ACTIVITIES
						2023	2022
						6	6
	Sandhurst Collection sales					269	33
	Sandhurst book sales						490
						269	523
4.	INVESTMENT	INCOME
						2023 f	2022 5
	CCLA investment income					281,015	270,915
	Deposit account interest					5,276	17
						~286 291	270,932
5.	RAISING FUNDS
	Investment management		costs
						2023	2022
						6	F
	Porffolio management					(10,759)	(10,628)
6.	CHARITABLE	ACTIVITIES COSTS
				Grant
				funding	of
				activities		Support
				(see note		costs (see
				7)		note 8)	Totals
				6		F	F
	The Sandhurst	Collection		6,672		5,676	12,348
	General sundry	grants		167,590		12,412	180,002
	Depreciation on asset used		for
	charitable purposes					720	720
	SQM Infrastructure grants			~412071			412,071
				586,333		18,808	605,141

		2023	2022
The Sandhurst	Collection	6,672	26,502
General sundry	grants	167,590	97,527
SQM Infrastructure grants		412071	380,810
		586,333	504,839

							Governance
						Finance	costs	Totals
							f	5
The Sandhurst Collection							5,676	5,676
General	sundry grants					20	12,392	12,412
Depreciation		on asset		used for
charitable	purposes						720	720
						20	18,788	18808
Support costs, included				in the above, are as follows:
Governance		costs
							2023	2022
						Depreciation
						on asset
				The	General	used for
				Sandhurst	sundry	charitable	Total	Total
				Collection f	grants f	purposes	activities	activities f
Auditors'	remuneration				4,620		4,620	4,770
Auditors'	remuneration
for non audit		work			5,400		5,400	5,520
Insurance				5,676			5,676	5,535
Printing,	stationery		&
postage					140		140
Depreciation		oftangible
fixed assets						720	720	847
Sage support		costs			2,232		2,232	1,847
				5,676	12392	720	18788	18,521

			Unrestricted	Restricted	Total
			funds	funds	funds
			8	F
INCOME AND	ENDOWMENTS	FROM
Donations and	legacies		430		430
Other trading activities			523		523
Investment income			270,932		270,932
Total			271,885		271,885
EXPENDITURE	ON
Raising funds			(10,628)		(10,628)
Charitable activities
The Sandhurst	Collection		32,037		32,037
General sundry	grants		137,829		137,829
Depreciation on	asset used for	charitable
purposes			847		847
SQM Infrastructure grants			380,810		380,810
Total			540,895		545 895
Net gains on investments			784 751		784751
NET INCONIE			515,741		515,741
RECONCILIATION OF FUNDS
Total funds brought forward			9,358,854		9,358,854
TOTAL FUNDS	CARRIED FORWARD		9874 595		9,874,595

TANGIBLE FIXEDASSETS
		Plant and
		machinery
		6
COST
At 1st April 2022 and 31st March 2023		12717
DEPRECIATION
At 1st April 2022		7,920
Charge for year		720
At 31st March 2023		8,640
NET BOOK VALUE
At 31st March 2023		4,077
At 31stMarch 2022		4,797
FIXEDASSET INVESTMENTS
	2023	2022
		6
Shares	9,652,773	9,726,612
Other	236,942	100,156
	9889715	9820,700

Additional information as follows:
	CCLA	Minority
	Listed	interests
	Investments	share	Totals
		F	f
MARKET VALUE
At 1st April 2022	10,751,038	(1,024,426)	9,726,612
Additions Revaluations	299,999 ~4)2,230)	- 384DD	299,999 ~373830
At 31stMarch 2023	1D,638,799	~900020)	9 052 773
NET BOOK VALUE
At 31st March 2023	10,038,799	~086,020)	9,002,773
At 31st March 2022

											2023 f	2022 f
	COLA cash deposits										236,942	100,156
13.	CREDITORS: AMOUNTS				FALLING DUE WITHIN ONE				YEAR
											2023	2022
											f	f
	Minority	interests - dividends				&interest due					101,836	76,622
	Accrued	expenses									10,519	10,170
											112355	86792
14.	MOVEMENT		IN FUNDS
											Net
											movement	At
									At	1.4.22 f	in funds f	31.3.23 f
	Unrestricted		funds
	General	fund							9,874,595		69,315	9,943,910
	TOTAL	FUNDS							9 874 595		69,315	9,943,910
	Net movement		in funds,	included			in the above	are as follows:
								Incoming	Resources		Gains and	Movement
								resources	expended f		losses f	in funds f
	Unrestricted		funds
	General	fund					1,037,535		(594,382)		(373,838)	69,315
	TOTAL	FUNDS					1	037635	~594,382		~373838, 69,315
	Comparatives		for movement			in	funds
											Net
											movement	At
									At	1.4.21	in funds f	31.3.22 f
	Unrestricted		funds
	General	fund							9,358,854		515,741	9,874,595
	TOTAL	FUNDS							9,358,854		515741	9874595

Comparative	net movement in fu	nds, included in the abov	e are as follows:
		Incoming	Resources	Gains and	Movement
		resources	expended f	losses f	in funds f
Unrestricted	funds
General fund		271,885	(540,895)	784,751	515,741
TOTAL FUNDS		271,885	f5540,895	784,751	515,741

A curren	t yea	r 12 months and prior year	12months combined position is	as follows:
				Net
				movement	At
			At 1.4.21 f	in funds f	31.3.23
Unrestricted		funds
General	fund		9,358,854	585,056	9,943,910
TOTAL	FUNDS		9,358,854	585D56	9943910

A current yea above are as	r 12 months and p follows;	rior year 12 months com	bined net movem	ent in funds, i	ncluded in t
		Incoming	Resources	Gains and	Movement
		resources F	expended f	losses f	in funds f
Unrestricted	funds
General fund		1,309,420	(1,135,277)	410,913	585,056
TOTAL FUNDS		1,309,420	~7,1352771	410913	585,D56

				2023	2022
				5	5
INCOME AND ENDOWMENTS
Donations and legacies
Donations				1,000	430
Other trading activities
Sandhurst Collection	sales			269	33
Sandhurst book sales					490
				269	523
Investment income
CCLA investment income				281,015	270,915
Deposit account interest				5,276	17
				286,291	270,932
Other income
Other income Kingdom		of Bahrain		449,975
Other income RMAS				300000
				749,975
Total incoming resources				1,037,535	271,885
EXPENDITURE
Investment management			costs
Porffolio management				(10,759)	(10,628)
Charitable activities
Grants to supported	causes			586,333	504,839
Support costs
Finance
Bank charges				20
Other
Loan write off					28,163
Governance costs
Auditors' remuneration				4,620	4,770
Auditors' remuneration		for	non audit work	5,400	5,520
Insurance				5,676	5,535
Printing, stationery	&postage			140	2
Carried forward				15,836	15,827

			2023	2022
			F
Governance costs
Brought forward			15,836	15,827
Plant and machinery			720	847
Sage support costs			2,232	1,847
			18,788	18521
Total resources expended			594,382	540,895
Net income/(expenditure)		before gains
and losses			443,153	(269,010)
Realised recognised	gains and losses
Realised gains/(losses)	on	fixed asset
investments				8,863
Net income/(expenditure)			443,153	~258,747