```
REGISTERED COMPANY NUMBER: 08722309 (England and Wales)
REGISTERED CHARITY NUMBER: 1154476
```
```
Report of the Trustees and
```
```
Unaudited Financial Statements for the Year Ended 31 December 2022
```
```
for
```
## **`Sandhurst Trust`**
```
Harlands Accountants (Newquay) Limited
35 High Cross Street
```
```
St Austell
Cornwall
PL25 4AN
```
```
Sandhurst Trust
```
```
Contents of the Financial Statements
for the Year Ended 31 December 2022
```
|||**`Page`**||
|---|---|---|---|
|**`Report of the Trustees`**|`1`|`to`|`3`|
|**`Independent Examiner's Report`**||`4`||
|**`Statement of Financial Activities`**||`5`||
|**`Balance Sheet`**|`6`|`to`|`7`|
|**`Cash Flow Statement`**||`8`||
|**`Notes to the Cash Flow Statement`**||`9`||
|**`Notes to the Financial Statements`**|`10`|`to`|`15`|
```
Sandhurst Trust
```
## **`Report of the Trustees for the Year Ended 31 December 2022`**
```
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,present their
reportwiththefinancialstatementsofthecharityfortheyearended31December2022.Thetrustees have
adoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommended Practice
applicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReporting Standard
applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
```
## **`OBJECTIVES AND ACTIVITIES`**
## **`Objectives of the Charity`**
```
The Sandhurst Trust has two charitable objects:
```
```
Object1:TopromotetheefficiencyofthearmedforcesoftheCrownandinparticulartheRoyal Military
Academy (RMA) Sandhurst in such charitable ways as the trustees from time to time think fit.
```
```
Object2:Toadvanceeducationandresearchinthefieldsofleadershipandmanagementandthe training
of effective managers and leaders in civil and military life.
```
## **`Significant activities in the year and achievements`**
```
2022sawthecharityforgingaheadfromrestrictionsduetothecovidpandemic.Theearlypartofthe year
sawareturntoafullprogrammeofevents.Laterintheyearthepaceincreasedwith155eventstaking place
overall.
```
```
TheTrustcontinuestobesupportedbythePatron,TheKingofBahrain,withtheannualgrantof£70k paid.
Furthermore,thegrantinaidfromtheChiefoftheGeneralStaffwasincreasedto£65kandbothgrants were
fullyutilisedkeepingthecharityrunning.Reserves,whichhadbeenrundownduringtheearlypartofthe year,
werere-establishedatalowlevelbutwithaplantorestorethecashreserveto£75kbytheendof2022. The
profitfromtheincreasedamountofeventsenabledthedisbursementtoreach£125ka hugeimprovement on
the £83k in 2021 and exceeding the previous best of £107k in 2019.
```
## **`Public benefit`**
```
TheRoyalMilitaryAcademySandhurst(RMAS)hasaninternationalreputationforthetrainingofArmy officers
asleadersandmanagers.All Army officerstakethistrainingandsubsequentmilitaryexperiencebackinto the
civilarenaattheendoftheirmilitarycareerwhetherthisisshortorlong.TheTrustsupportsRMASby providing
prizesandleadershipgrantstoenhancetrainingactivityandalsoprovidesleadershipgrantsformembers of
the charity out in the Field Army.
```
```
Duringtheyear,thecharitysupportedtheCentreforArmyLeadershipwiththeprovisionofbooksfor the
leadershiplibraryandprovidedprizesinsupportofbothRMASandtheIntermediateCommandand Staff
Course.ThecharityalsosupportedtwoeducationalwebsitesrunbyservingArmyofficers,theArmy Leader
and The Wavell Room.
```
```
During2022TheTrustcharitablydisbursed£125kincluding648grantstoOfficerCadetsgoingon adventurous
trainingexpeditions.Furthermore,221grantsweresuppliedtomemberstakingtheirsoldiers adventurous
trainingandanother14tomembersoftheSandhurststaff.Welfarecontinuedtobeamajoractivity, with
supporttointernationalcadetsforcedtoremainatRMASduringtherecesses,unabletoreturnhomedue to
thecostofflights.Grantstointernationalcadetsroseto£66kduringtheyear(up from44kin2021).There were
someremaininglegaciesfollowingthecollapseoftheAfghanGovernmentin2021withover£4kgiven in
resettlementgrantstotheremainingsevenAfghancadetsatSandhurstandafurthersixwhohad escaped
thecountry.Itisanticipatedthatthisrequirementwilldwindlewillin2023althoughTheTrustalsoprovided a
grantto thelastremainingUkrainiancadetat theAcademy. At otherfarendofthescale,TheTrust refurbished
a small memorial garden for an Officer Cadet who died in training in 2012.
```
```
Finally,TheTrustsupportedLucknowPlatoon,whichhousesthecadetsinjuredduringtraining,and the
continuedprovisionofahiredgolfbuggycutsdowntheamountofwalkingrequiredonthelarge660 acre
site.Withthisandassistancewithextra-curricularsuchasavisittoBletchleyPark,thetotalgrantstothe rehab
cadets was £5k.
```
```
Page 1
```
```
Sandhurst Trust
```
## **`Report of the Trustees for the Year Ended 31 December 2022`**
## **`FINANCIAL REVIEW`**
## **`Reserves policy`**
```
Tomeetitsobjects,TheTrusthasagreedabudgetingandreservespolicythatenablesittomake the
appropriateallocationoffundswhileatthesametimesecuringasoundfinancialbasisforthefuture activities
ofthetrust.Theallocationofthefundsandresourcesareagreedbythetrusteesintheoveralllightof the
Trusts strategic needs.
```
```
TheTrustholdsseveraltypesofreserves.Somearerestricted,meaningthattheyhavebeengivenfor specific
purposes or have conditions attached that means they can only be spent in a specific way.
```
```
SomereservesareintheformofdesignatedfundsthatareputasidebytheTrusteestorepresentfixed and
other assets, which cannot be readily converted into cash.
```
```
Finally, The Trust holds general funds or free reserves for three principal reasons:
```
```
i. To supply working capital to enable the Trust to manage fluctuations in its cash-flow
ii. To enable the trust to invest in other operations that complement the objectives of the trust
iii. To provide protection in the case of any unforeseen costs or to enable an orderly winding up of the Trust
```
```
Thereservespolicyadoptedbythetrusteeshasestablished,atthecurrentlevelsofactivity,thetarget range
forthefreereservesisbetween£100,000and£150,000.Totalreservesattheendofthefinancialyear were
£111,852(2021:£224,581),whichiswithintherangethattheTrusteesfeelarenecessarytoprotectforany of
the events set out above.
```
## **`Going concern`**
```
SincetheBalanceSheetdateof31December2019,theTrust,inlinewithallothercharities, commercial
businessesandgenerallives,hasbeenadverselyimpactedbytheglobalCOVID-19pandemic, including
cancellationofvirtuallyalleventsandexternalactivitiesafterMarch2020.TheTrusteeshavetaken advantage
ofGovernmentalsupportmeasures,including'furlough'schemeclaims,andhavecutothercosts where
possible;fortunately,theTrustcontinuestobenefitfromregulardonationsandgrantstomaintainincome such
thattheTrusteesconsiderthattheTrustcancontinueasagoingconcernfortheforeseeablefuture- the
Trustees will continue to keep the financial position of the charity under regular review.
```
## **`STRUCTURE, GOVERNANCE AND MANAGEMENT Constitution`**
```
InaccordancewiththedecisiontakenbytheTrusteesduring2013,inconsultationwiththe Charities
Commissionandwithappropriatelegaladvice,TheSandhurstTrust(Charitynumber1154476; Company
number08722309)waslaunchedwitheffectfrom1Jan2014.Allassetsandliabilitiesofthe Sandhurst
FoundationweretransferredtotheSandhurstTrustasaresultofaTransferAgreementbetweenthetrustees of
eachorganisation(andwiththeauthorityoftheCharitiesCommission).SandhurstTrustisacompany limited
byguaranteeandgovernedbyitsmemorandumandarticlesofassociation.Consequently,the Sandhurst
Foundation has been removed from the Register of Charities.
```
## **`Methods of appointing trustees`**
```
Therearethreeexofficiotrustees:TheCommandant,theAssistantCommandantand theDirectorofStudies of
the Royal Military Academy Sandhurst. Other Trustees, between 3 and 9, are co-opted.
```
## **`REFERENCE AND ADMINISTRATIVE DETAILS`**
## **`Registered Company number`**
```
08722309 (England and Wales)
```
## **`Registered Charity number`**
```
1154476
```
## **`Registered office`**
```
Old College
The Royal Military Academy
Sandhurst
Camberley
Surrey
GU15 4PQ
```
```
Page 2
```
```
Sandhurst Trust
```
## **`Report of the Trustees`**
## **`for the Year Ended 31 December 2022`**
## **`Trustees`**
```
Trustees of the Sandhurst Trust during the year 2022 were:
Major General D F Capps CBE (ex officio and Chairman) - resigned 10 November 2022
Major General Z R Stenning OBE - appointed 9 September 2022
Lieutenant General (Retired) Sir Simon Mayall KBE CB (Chairman)
Colonel R N Alston MBE
Brigadier (Retired) I N A Thomas OBE (ex officio)
Mr R C R Anderson
Lieutenant Colonel S W Bartlett QVRM TD
Mr W R W Gornall-King
Ms J A D James
Mr S Taylor
Mr T R Sherwood
Mr P R J Smith
Mr R Tanna
Mr A M Skilton - appointed 1 October 2022
```
## **`Independent Examiner`**
```
Deborah Edwards
Harlands Accountants (Newquay) Limited
35 High Cross Street
St Austell
Cornwall
PL25 4AN
```
```
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
```
```
...........................................................................
Mr T Sherwood - Trustee
```
```
Page 3
```
```
Independent Examiner's Report to the Trustees of
Sandhurst Trust
```
## **`Independent examiner's report to the trustees of Sandhurst Trust ('the Company')`**
```
IreporttothecharitytrusteesonmyexaminationoftheaccountsoftheCompanyfortheyear ended
31 December 2022.
```
## **`Responsibilities and basis of report`**
```
Asthecharity'strusteesoftheCompany(andalsoitsdirectorsforthepurposesofcompanylaw)you are
responsibleforthepreparationoftheaccountsinaccordancewiththerequirementsoftheCompanies Act
2006 ('the 2006 Act').
```
```
HavingsatisfiedmyselfthattheaccountsoftheCompanyarenotrequiredtobeauditedunderPart16of the
2006Act andareeligibleforindependentexamination,Ireportinrespectofmyexaminationofyour charity's
accountsascarriedoutunderSection145oftheCharitiesAct2011('the2011Act').Incarryingout my
examinationIhavefollowedtheDirectionsgivenbytheCharityCommissionunderSection145(5)(b)of the
2011 Act.
```
## **`Independent examiner's statement`**
```
Sinceyourcharity'sgrossincomeexceeded£250,000yourexaminermustbea memberofa listedbody.I can
confirmthatIamqualifiedtoundertaketheexaminationbecauseIamamemberoftheInstitute of
Chartered Accountants in England and Wales, which is one of the listed bodies.
```
```
Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnection with
the examination giving me cause to believe:
```
`1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or`
`2. the accounts do not accord with those records; or`
`3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or`
`4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).`
```
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationto which
attentionshouldbedrawninthisreportinordertoenableaproperunderstandingoftheaccountsto be
reached.
```
## `Deborah Edwards`
```
Harlands Accountants (Newquay) Limited
35 High Cross Street
St Austell
Cornwall
PL25 4AN
Date: .............................................
```
```
Page 4
```
```
Sandhurst Trust
```
## **`Statement of Financial Activities for the Year Ended 31 December 2022`**
|`Notes`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`2`
`Investment income`
`3`
**`Total`**
**`EXPENDITURE ON`**
`Raising funds`
`4`
`Other`
**`Total`**
**`NET INCOME/(EXPENDITURE)`**
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
**`TOTAL FUNDS CARRIED FORWARD`**|**`31.12.22`**
`31.12.21`
**`Unrestricted`**
`Total`
**`fund`**
`funds`
**`£`**
`£`
**`983,535`**
`578,514`
**`682`**
`15`
**`984,217`**
`578,529`
**`770,619`**
`307,071`
**`326,327`**
`196,918`
**`1,096,946`**
`503,989`
**`(112,729)`**
`74,540`
**`224,581`**
`150,041`
**`111,852`**
`224,581`|
|---|---|
```
The notes form part of these financial statements
```
```
Page 5
```
```
Sandhurst Trust
```
## **`Balance Sheet`**
## **`31 December 2022`**
|**`31.12.22`**
**`Unrestricted`**
**`fund`**
`Notes`
**`£`**
**`FIXED ASSETS`**
`Intangible assets`
`9`
**`3,180`**
**`CURRENT ASSETS`**
`Stocks`
`10`
**`33,583`**
`Debtors`
`11`
**`41,303`**
`Cash at bank and in hand`
**`306,244`**
**`381,130`**
**`CREDITORS`**
`Amounts falling due within one year`
`12`
**`(202,374)`**
**`NET CURRENT ASSETS`**
**`178,756`**
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
**`181,936`**
**`CREDITORS`**
`Amounts falling due after more than one`
`year`
`13`
**`(70,084)`**
**`NET ASSETS`**
**`111,852`**
**`FUNDS`**
`15`
`Unrestricted funds`
**`111,852`**
**`TOTAL FUNDS`**
**`111,852`**|`31.12.21`
`Total`
`funds`
`£`
`3,180`
`23,168`
`7,871`
`248,273`
`279,312`
`(57,911)`
`221,401`
`224,581`
`-`
`224,581`
`224,581`
`224,581`|
|---|---|
```
ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct 2006 for
the year ended 31 December 2022.
```
```
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
31 December 2022 in accordance with Section 476 of the Companies Act 2006.
```
```
The trustees acknowledge their responsibilities for
```
- `(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and`
- `(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.`
```
The notes form part of these financial statements
```
```
continued...
```
```
Page 6
```
```
Sandhurst Trust
```
## **`Balance Sheet - continued`**
## **`31 December 2022`**
```
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicableto charitable
companies subject to the small companies regime.
```
```
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
............................................. and were signed on its behalf by:
```
```
.............................................
Mr T Sherwood - Trustee
```
```
The notes form part of these financial statements
```
```
Page 7
```
```
Sandhurst Trust
```
## **`Cash Flow Statement for the Year Ended 31 December 2022`**
|`Notes`
**`Cash flows from operating activities`**
`Cash generated from operations`
`1`
`Net cash (used in)/provided by operating activities`
**`Cash flows from investing activities`**
`Interest received`
`Net cash provided by investing activities`
**`Cash flows from financing activities`**
`New loans in year`
`Loan repayments in year`
`Net cash provided by financing activities`
**`Change in cash and cash equivalents in`**
**`the reporting period`**
**`Cash and cash equivalents at the`**
**`beginning of the reporting period`**
**`Cash and cash equivalents at the end of`**
**`the reporting period`**|**`31.12.22`**
**`£`**
**`(29,462)`**
**`(29,462)`**
**`682`**
**`682`**
**`100,000`**
**`(13,249)`**
**`86,751`**
**`57,971`**
**`248,273`**
**`306,244`**|`31.12.21`
`£`
`91,510`|
|---|---|---|
|||`91,510`|
|||`15`|
|||`15`|
|||`-`
`-`|
|||`-`|
||||
|||`91,525`
`156,748`|
|||`248,273`|
```
The notes form part of these financial statements
```
```
Page 8
```
```
Sandhurst Trust
```
## **`Notes to the Cash Flow Statement for the Year Ended 31 December 2022`**
## **`1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES`**
|**`Net (expenditure)/income for the reporting period (as per the`**
**`Statement of Financial Activities)`**
**`Adjustments for:`**
`Interest received`
`(Increase)/decrease in stocks`
`(Increase)/decrease in debtors`
`Increase in creditors`
**`Net cash (used in)/provided by operations`**|**`31.12.22`**
`31.12.21`
**`£`**
`£`
**`(112,729)`**
`74,540`
**`(682)`**
`(15)`
**`(10,415)`**
`1,704`
**`(33,432)`**
`7,814`
**`127,796`**
`7,467`
**`(29,462)`**
`91,510`|
|---|---|
## **`2. ANALYSIS OF CHANGES IN NET FUNDS`**
||`At 1.1.22`|`Cash flow`|**`At 31.12.22`**|
|---|---|---|---|
||`£`|`£`|**`£`**|
|**`Net cash`**||||
|`Cash at bank and in hand`|**`248,273`**|**`57,971`**|**`306,244`**|
||**`248,273`**|**`57,971`**|**`306,244`**|
|**`Debt`**||||
|`Debts falling due within 1 year`|**`-`**|**`(16,667)`**|**`(16,667)`**|
|`Debts falling due after 1 year`|**`-`**|**`(70,084)`**|**`(70,084)`**|
||**`-`**|**`(86,751)`**|**`(86,751)`**|
|**`Total`**|**`248,273`**|**`(28,780)`**|**`219,493`**|
```
The notes form part of these financial statements
```
```
Page 9
```
```
Sandhurst Trust
```
```
Notes to the Financial Statements
for the Year Ended 31 December 2022
```
## **`1. ACCOUNTING POLICIES`**
## **`Basis of preparing the financial statements`**
```
Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS 102,
havebeenpreparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReporting by
Charities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccounts in
accordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland (FRS
102)(effective1January2019)',FinancialReportingStandard102'TheFinancialReporting Standard
applicableintheUKandRepublicofIreland'andtheCompaniesAct2006.Thefinancial statements
have been prepared under the historical cost convention.
```
## **`Income`**
```
All incomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementto the
funds, it is probable that the income will be received and the amount can be measured reliably.
```
## **`Expenditure`**
```
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation
committingthecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswill be
requiredinsettlementandtheamountoftheobligationcanbemeasuredreliably.Expenditure is
accountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregateall cost
relatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadingsthey have
been allocated to activities on a basis consistent with the use of resources.
```
## **`Stocks`**
```
Stocksarevaluedatthelowerofcostandnetrealisablevalue,aftermakingdueallowance for
obsolete and slow moving items.
```
## **`Taxation`**
```
The charity is exempt from corporation tax on its charitable activities.
```
## **`Pension costs and other post-retirement benefits`**
```
Thecharitablecompanyoperatesadefinedcontributionpensionscheme.Contributionspayable to
thecharitablecompany'spensionschemearechargedtotheStatementofFinancialActivitiesin the
period to which they relate.
```
## **`2. DONATIONS AND LEGACIES`**
## **`3.`**
|`Donations`
`Other income`
**`INVESTMENT INCOME`**
`Interest receivable - trading`|**`31.12.22`**
**`£`**
**`266,587`**
**`716,948`**
**`983,535`**
**`31.12.22`**
**`£`**
**`682`**|`31.12.21`
`£`
`179,704`
`398,810`|
|---|---|---|
|||`578,514`|
|||`31.12.21`
`£`
`15`|
```
continued...
```
```
Page 10
```
```
Sandhurst Trust
```
## **`Notes to the Financial Statements - continued for the Year Ended 31 December 2022`**
## **`4. RAISING FUNDS`**
## **`Raising donations and legacies`**
## **`5.`**
|`Direct costs`
**`SUPPORT COSTS`**
`Management`
`Finance`
`£`
`£`
`Other resources expended`
**`301,019`**
**`13,678`**|**`31.12.22`**
**`£`**
**`770,619`**
`Other`
`£`
**`11,630`**|`31.12.21`
`£`
`307,071`|
|---|---|---|
|||`Totals`
`£`
**`326,327`**|
## **`6. TRUSTEES' REMUNERATION AND BENEFITS`**
```
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31December2022nor for
the year ended 31 December 2021.
```
## **`Trustees' expenses`**
```
Therewerenotrustees'expensespaidfortheyearended31December2022norfortheyear ended
31 December 2021.
```
## **`7. STAFF COSTS`**
|`Wages and salaries`
`Other pension costs`
`The average monthly number of employees during the year was as follows:`
`Staff`
`No employees received emoluments in excess of £60,000.`|**`31.12.22`**
`31.12.21`
**`£`**
`£`
**`244,264`**
`135,135`
**`12,223`**
`15,924`
**`256,487`**
`151,059`
**`31.12.22`**
`31.12.21`
**`7`**
`6`|
|---|---|
## **`8.`**
## **`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`**
|**`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`**||
|---|---|
||`Unrestricted`|
||`fund`|
||`£`|
|**`INCOME AND ENDOWMENTS FROM`**||
|`Donations and legacies`|`578,514`|
|`Investment income`|`15`|
|**`Total`**|`578,529`|
|**`EXPENDITURE ON`**||
|`Raising funds`|`307,071`|
|`Other`|`196,918`|
|**`Total`**|`503,989`|
```
continued...
```
```
Page 11
```
```
Sandhurst Trust
```
```
Notes to the Financial Statements - continued
for the Year Ended 31 December 2022
```
|**`8.`**|**`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued`**|||
|---|---|---|---|
||||`Unrestricted`|
||||`fund`|
||||`£`|
||**`NET INCOME`**||`74,540`|
||**`RECONCILIATION OF FUNDS`**|||
||`Total funds brought forward`||`150,041`|
||**`TOTAL FUNDS CARRIED FORWARD`**||`224,581`|
|**`9.`**|**`INTANGIBLE FIXED ASSETS`**|||
||||`IPR on`|
||||`Medals`|
||||`£`|
||**`COST`**|||
||`At 1 January 2022 and`|||
||`31 December 2022`||**`3,180`**|
||**`NET BOOK VALUE`**|||
||`At 31 December 2022`||**`3,180`**|
||`At 31 December 2021`||`3,180`|
|**`10.`**|**`STOCKS`**|||
|||**`31.12.22`**|`31.12.21`|
|||**`£`**|`£`|
||`Stocks`|**`33,583`**|`23,168`|
|**`11.`**|**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**|||
|||**`31.12.22`**|`31.12.21`|
|||**`£`**|`£`|
||`Trade debtors`|**`17,974`**|`3,600`|
||`Other debtors`|**`20,764`**|`4,271`|
||`VAT`|**`565`**|`-`|
||`Prepayments and accrued income`|**`2,000`**|`-`|
|||**`41,303`**|`7,871`|
```
continued...
```
```
Page 12
```
```
Sandhurst Trust
```
## **`Notes to the Financial Statements - continued for the Year Ended 31 December 2022`**
|**`12.`**
**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Bank loans and overdrafts (see note 14)`
`Trade creditors`
`Social security and other taxes`
`VAT`
`Other creditors`
`Accruals and deferred income`
`Commandant's fund loan`
**`13.`**
**`CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR`**
`Bank loans (see note 14)`
**`14.`**
**`LOANS`**
`An analysis of the maturity of loans is given below:`
`Amounts falling due within one year on demand:`
`Bank loans`
`Amounts falling between one and two years:`
`Bank loans - 1-2 years`
`Amounts falling due between two and five years:`
`Bank loans - 2-5 years`
**`15.`**
**`MOVEMENT IN FUNDS`**
`At 1.1.22`
`£`
**`Unrestricted funds`**
`General fund`
**`224,581`**
**`TOTAL FUNDS`**
**`224,581`**
`Net movement in funds, included in the above are as follows:`
`Incoming`
`resources`
`£`
**`Unrestricted funds`**
`General fund`
**`984,217`**
**`TOTAL FUNDS`**
**`984,217`**|**`31.12.22`**
**`£`**
**`16,667`**
**`144,941`**
**`8,338`**
**`-`**
**`3,850`**
**`28,578`**
**`-`**
**`202,374`**
**`31.12.22`**
**`£`**
**`70,084`**
**`31.12.22`**
**`£`**
**`16,667`**
**`16,667`**
**`53,417`**
`Net`
`movement`
`in funds`
`£`
**`(112,729)`**
**`(112,729)`**
`Resources`
`expended`
`£`
**`(1,096,946)`**
**`(1,096,946)`**|`31.12.21`
`£`
`-`
`-`
`14,962`
`6,776`
`11,846`
`19,151`
`5,176`
`57,911`
`31.12.21`
`£`
`-`
`31.12.21`
`£`
`-`
`-`
`-`
`At`
`31.12.22`
`£`
**`111,852`**
**`111,852`**
`Movement`
`in funds`
`£`
**`(112,729)`**
**`(112,729)`**|
|---|---|---|
```
continued...
```
```
Page 13
```
```
Sandhurst Trust
```
```
Notes to the Financial Statements - continued
for the Year Ended 31 December 2022
```
## **`15. MOVEMENT IN FUNDS - continued`**
## **`Comparatives for movement in funds`**
|**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`Net`
`movement`
`At 1.1.21`
`in funds`
`£`
`£`
`150,041`
`74,540`
`150,041`
`74,540`|`At`
`31.12.21`
`£`
`224,581`|
|---|---|---|
|||`224,581`|
```
Comparative net movement in funds, included in the above are as follows:
```
|**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`Incoming`
`Resources`
`Movement`
`resources`
`expended`
`in funds`
`£`
`£`
`£`
`578,529`
`(503,989)`
`74,540`
`578,529`
`(503,989)`
`74,540`|
|---|---|
```
A current year 12 months and prior year 12 months combined position is as follows:
```
|**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`Net`
`movement`
`At 1.1.21`
`in funds`
`£`
`£`
`150,041`
`(38,189)`
`150,041`
`(38,189)`|`At`
`31.12.22`
`£`
`111,852`|
|---|---|---|
|||`111,852`|
```
A currentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedin the
above are as follows:
```
|**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`1,562,746`
`1,562,746`|`Resources`
`expended`
`£`
`(1,600,935)`
`(1,600,935)`|`Movement`
`in funds`
`£`
`(38,189)`
`(38,189)`|
|---|---|---|---|
```
continued...
```
```
Page 14
```
```
Sandhurst Trust
```
## **`Notes to the Financial Statements - continued`**
## **`for the Year Ended 31 December 2022`**
## **`16. RELATED PARTY DISCLOSURES`**
```
There were no related party transactions for the year ended 31 December 2022.
```
```
Page 15
```