Docusign En¥ÈlopÈ ID". 20595F23-EO92487C-A315-9B1D635B1AC7 COMPANY REGISTRATION NUMBER.. CE007127 CHARITY REGISTRATION NUMBER: 1168426 The Green Howards Trust Unaudited Financial Statements 31 December 2022 CHIPCHASE MANNERS Chartered Accountants 15 Newbiggin Richmond North Yorkshire DL10 4DR
Docusign En¥ÈlopÈ ID". 20595F23-EO92487C-A315-9B1D635B1AC7 The Green Howards Trust Financial Statements Year ended 31 December 2022 Page Trustees, annual report Independent examinees report to the Irustees Statement of financial activities (including income and expenditure account) Statement of financial position Notes to the financial statements The followlng pages do not forni part of the financial statements Detalled statement of financial activities Notes to the detailed statement of financial activities
Docusign En¥ÈlopÈ ID". 20595F23-EO92487C-A315-9B1D635B1AC7 The Green Howards Trust Trustees. Annual Report Year ended 31 Decembor 2022 The trustees, who are also the directors for the purposes of company law. present their report and the unaudited finanual statements of the charity for the year ended 31 December 2022. Rof•r•nce and admlnistrative dgtails Reg18tered charlty narne The Green Howards Trusl Chaiity reglstratlon number 1168426 Company reglstratlon number CE007127 Principal offl¢e and reglstered Regimentsl Headquarters offico Green Howards Museum Trinity Church Square Richmond North Yorkshire DL10 1AQ The trusteos Lt Col (Retdl J N Wall (Chairman) Major (Reld) P B R Houghton Colonel (Retd) S Fovargu& MBE Mr P 8ennison Captain IRetdl P Taylor Colonel J K Wright Colonel S Moss Mrs B Thornton-Bery Captain {Retd} R Neville Brig IRetd) Colthup Lady Hale DBE PC (Appointed 15 May 2022) {Appointed 15 May 2022) Independent examlner Sara-Louise Dickman ACA 15 Newbiggin Rlchmond North Yorkshlre DL10 4DR
Docusign En¥ÈlopÈ ID". 20595F23-EO92487C-A315-9B1D635B1AC7 The Green Howards Trust Trustees. Annual Report (wrtimnd) Year ended 31 December 2022 Structure. governanco and managgrngnt The Charilable Inrporated Organisalion was established by a ¢onslttution registered with the Charity Commission on 26 July 2016. During 2015116 the Trustees vieWed the slatus of the charity and decided to seek IncorptIOn. This was effected through the creation of a new Charitable Incorp)ratgd Organisation (CIO) and the subsequent transfer of assets from the unincorporated charitable trust Iregislered charity number 291931) lo the CIO on 1 January 2017. The transfer was part of a restructure induding the transfer of assets from The Green Howards Regimental Museum and The Green Howards Normandy Memorial Trust to the CIO as their corporate succes50r. The Charity CommlssM)n has also granted a scheme to appoint The Green Howards Trust as the sole Trustee of The Green Howards Regimental Museum. Historically the Trustegs have been former officers of the regiment. The current Trustees have begun lo broaden the Trustee base and will continue to do so over Ihe medium temi. Trustees are made aware of the Charities Commission regulalM)ns by the secretary. The Trustees meet fomally twice per year. They sel and monitor the annual budget and agree strategy and future plans. Two sub<ommittees have been established which report lo the board., a museum executive committee, which Is responsible for the overslght of the museum. and the Investment committee. The museum Directorlcurator. Lynda Powell, had day to day responsibility for the museum she has now retired from the museum and a new Directorl Curator will replace her in éue course.
Docusign En¥ÈlopÈ ID". 20595F23-EO92487C-A315-9B1D635B1AC7 The Green Howards Trust Trustees. Annual Report (conrfnu8di Year ended 31 Decembar 2022 ObJectiV0$ and actlvltles The tharity's objects are. for the public ben8fit'. To advance education in particular but not exciusively by the provlslon of The Green Howards Museum and the preservation and maintenance of the Regimental Collection. To promote the efficiency of the armed forces by upholding the traditions and ethos of the Green Howards Regiment and p8rp81uating ils deeds. The Trusvs vision for the museum is to be the best County Re9imental Museum in the country setting the quality s18ndard for interpretation. audience engagement and access lo collections. The Trusvs mission staternenl for the museijm L8 lo use the regimental collections to stimulate and inspire so that diverse audiences undeTsland and value the role of the Green Howard$ and the Yorkshire Regiment in national and world events. This vision and mission have shaped the Trust's long term aims and objectives for the museum which are to.. Provide a stimulating and engaging visitor experience that creates a ¢onne¢lion between the publ arKI the Army. Create inspirational activities and programmes that support learning at all stages of life. Develop and enhance the museum collections so that they are availabl8 for future generations to use and enjoy. Develop the Trust's financial and organisational capacty lo support the museum and its activities. The Trustees hav8 paid du& r8gard to guidance issued by lh8 Charty Commission in de¢iding what aelivilies the Charity should undertake.
Docusign En¥ÈlopÈ ID". 20595F23-EO92487C-A315-9B1D635B1AC7 The Green Howards Trust Trustees. Annual Report {continu•d) Year ended 31 December 2022 Achiovaménts and performance Trust Strategy During the year the trustees discussed and formulated a long term stralegy. The aim of the strategy is lo ensure that the charity's objects will be financially sustainable in perpetuity whilst also having regard for future technological and behavioural changes in the heritage sector. Key lo success will be a significant fundraising campaign. The Museum Th& museum had over T,1c visitors during the year, a welcome increase on the Covid affected number of 4.700 in 2021. The museum had 8 busy 2022 exhibition programme. opening in February with 'Man of Mystery.. the lives of John Purvis" Incorporating loans from the Borthwick Institute of Archives and the National Eady Music Centre we presented one of our largest creatNe archive collections following cataloguing project led by volunteer Poppy Milner, as part of her Maslers in Museums Studies degree. Elements of this exhibition were further ulilised in our main exhibition of the year "Created in Conflicr which, as well as showcasing the breadth of creativity in the museum collection, also saw major loans of iwo Christopher Nevinson paintings from Leeds Art Gallery and Sheffield Art Gallery. and loans from rMIv2te individuals such as walercolours by Major Mike Claydon. We also hosted the Museum of Military Medicine's Iring exhibition about the role of the Royal Amiy Dental Corps, which provided the opportunty lo display one of our unlque objects. a World War 1 dentsl prosthetic. The Director and Staff The trustees, as ever, are very grateful to all the slaff and volunteers for their professtonallsm and dedication, and wSlhout whose work, the museum would not be as successful as it is. In early 2023, Lynda Powell, the very long temi Curator and DireGtor of the museum, dedde¢, for personal reasons. lo leave. She does so with grateful thanks from the Iruslees and all Green Howards for everyihing she has achieved. in particular the redevelopment of the museum and the National Lollery Heritage grant which she procured in helping lo achieve this. The trustees are delighted that she will be staying wrth us as a trustee.
Docusign En¥ÈlopÈ ID". 20595F23-EO92487C-A315-9B1D635B1AC7 The Green Howards Trust Trustees, Annual Report(contknu•dJ Year ended 31 December 2022 Financlal revlew The trust holds the majorty of its assets in quoted investments and cash. The Trustees aim, over the medium term, is to sel a budget that balances the income from investments, the income earned from the museum and fundraising wlh expenditure. Given the liquid nature of the investment assets the Iruslees do not feol the need for a fomial reserves pc4icy. The investments are managed on a discretionary basis by professional fvnd managers. The Trustees review the investment mandate annually and delegate monitoring of the management and perfomian¢e to an Investment sub-committee. The Current manfjate Is to invest for 9rovAh. The Trustees consider the main risks facing the trust to be- The wthdrawal of grant$ from the Ministy of Defence in support of the museum. This is expected in 2030. The Trustees are looking to increase investment income by this lime to Gounter this. under-perf0m1an of investment assets. A dNesling event al the museum. The twst has a risk management strategy %thi¢h identifies the risk to the trust under the following headings., strategic, operational, museum, flnancial, legal. compliance and governare. The museum also ha$ an emergency plan. The stslement of Financial Activi3 shows total incoming resouros for the year of £206,703 and totsl expenditure of £362,272. The realised and unrealised loss on investments sold and tsined was £312,491 reSu.g In an overall defi¢il of £468,060 in the year ¢ompared to a surplus of £152,766 in the prior year. Total funds of the CIO al 31st Oecember 2022 amounted to £3,912,951 comprising of restricted funds of £620.772 and unre51ricted furTrds of £3,292.179. Small Company provlslons This report has been prepared in accordan with the provisions appliGable lo Gompanies entrtled lo the small companies exemption. The trustee$, annual report wa$ approve¢J on 15 September 2023 and slgned on behaw of the board of trustees by.. Major IRetd} P 8 R Houghton Trustee
Docusign En¥ÈlopÈ ID". 20595F23-EO92487C-A315-9B1D635B1AC7 The Green Howards Trust Independent Examiners Report to the Trustees of The Green Howards Trust Year ended 31 De¢ember 2022 I report to the trustees on my examinab'on of the finala1 statements of The Green Howards Trust {the charrty'l for the year ended 31 December 2022. Rosponslbllltlos and basls of report As the tru$tee$ of the ¢harty you are responsible for the preparation of Ihfr financial slatements in 8e¢ordance the requirements of the Charities Act 2011 (the 2011 Acti. I report in respect of my examinali¢)n of the charity's financial statements carried out under section 145 of the 2011 Act. In ¢arying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. IndOndant gxaminarfs stalomgnt Your attention is drawn to the fact that the charty has prepare(I financial stslements in accordan with Accounting and Reporting by Charitie$ preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 in preference to the Accounting and Reporting Standard by Charities.. Statement of Recommended Pract¢ce issued on 1 April 2005 vthich is referr&J lo in the extant regulatn8 but has now been withdrawn. l understand that this has been done in order for financial slalement8 to provide a tnje and fair view In accordance with Geneially A¢¢epted A¢¢ounling Prartice effective for reporting periods beginning ors or after 1 January 2015. I have completed my examination. I confimi that no matters have come lo my attention in connection th the examinats.on giving me cause to believe that in any material respect.. 1. accounting records were not kept in respect of the Chanty ay required by seclson 130 of the 2011 Act.. or 2. the financial ststemenls do not accord with Ihose records." or 3. the financial statements do not comply wlh tt)e applicable requirements concerning the fomi and content of accounts sel out in the Charilies (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair vièw vthi¢h is not a matter consided as part of an independent examination. I have no concems and have come across no glher matters in connection w7th the examinab'on to which attentton should be drawn in this ptsrt in order to enable a proper understanding of the financial Stslements to be reached. Sara-Louise Dickman ACA Independent Examiner 15 Newbiggin RhM0nd North Yorkshire DL10 4DR
Docusign En¥ÈlopÈ ID". 20595F23-EO92487C-A315-9B1D635B1AC7 The Green Howards Trust Statement of Financial Activities (including incomo and exponditure account) Year onded 31 December 2022 2022 Restricle(J funds Totsl funds Total funds 2021 Unrestricled funds Income and endowments Donations and grants Charitable activities Other trading activities Investment income 62,343 32,263 44,654 67,443 62.343 32,263 44,654 67,443 110.469 22,653 48,286 53,660 Total Incomè 206,703 206,703 235,068 Expendlture Expenditur8 on raising funds: Raising funds Costs of trading activities Investment management costs Expenditure on charitable activities Tolal expendlture 129,809) (26,555) 121,694) (244.898) (322,956> {29,809) {9.681) {26,555) (23,915) (21,694) (19,517) (39,316) (284,214) {282,168) 139,316) (362.272) (335.281 > 10 11.12 Net {lossesygains on investments 13 1312,4911 {312,4911 252,979 Net {expendltureylncomo and not movement In funds (428.744) {39,318) {468.060) 152,766 Reconclllatlon of funds Total funds brought forward Total funds carried forward 3,720,923 3,292.179 660,088 4.381.011 4,228,245 4.381,011 620.772 3,912.951 The statement of financial activities Includes all gains and losses recognised in the year. All income and expenditure derlve from continuing activtties. The notss pag86 9 to 20 fomi part 0fthe flnanclal stateménts.
Docusign En¥ÈlopÈ ID". 20595F23-EO92487C-A315-9B1D635B1AC7 The Green Howards Trust Statement of Financial Position 31 December 2022 2022 2021 Flxed assets Tangible fed assets Investments 18 1.163,798 19 2,670,393 3.834.191 1,243.154 3,001,156 4.244.310 Current assets Stocks Debtors Cash al bank antl In hand 20 21 25.061 4.758 76.429 19,102 4,482 128,054 106,248 151,638 Crgditor5: amounts falling dug YAthin one year Net current assets {27,4881 78,760 (14,937) 136,701 4,381,011 Total assets less current Ilabllltt 3,912,951 Net assets 3,912,951 4,381,011 Funds of the charfty Restricted funds Unrestricted funds 620,772 3,292,179 660,088 3,720,923 Total charity funds 25 3,912,951 4,381,011 Th8se flnanclal statements were approved by the board of trustees and authorised for issue on 15 September 2023, and are signed on behalf of the board by- Major IReldl P B R Houghlon Trustee Tho notss on pa9 9 to 20 form part of thÈsè finanelal statement
Docusign En¥ÈlopÈ ID". 20595F23-EO92487C-A315-9B1D635B1AC7 The Green Howards Trust Notes to the Financial Statèments Year ended 31 Dec•mber 2022 Gongral inlotmation The Green Howards Trust is a Charitable Incorporated Organisalion eslablished by constitution and reglstered with the Charities Commission. Statement of compliancè The accounts have been prepared in a¢¢ordance wlth the charlty's constitulion, the Charities Act 2011 and "Accounting and Reportingby Charitlos.. Statement of Recommended Practice applicable to chanlies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS102)" (as amended for accounting per•)ds commenGing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102. A¢countlng pollclos Basis of prnparation The financial ststements have been prepared on the historlcal cost basls, as modffled ty the revaluation of eertain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are wepared in sterling, which is the functional currency of the entity. Going concém There are no material unc£rtainlies about the charity's ability lo continue. Dlsclo8ure exemptlons The Charity has taken advantage of the provision in the SORP for charttiès appiying FRS 102 update bullelln 1 not to prepare a statement of cash flows. Judgements and kèy sourcès of ostimation uncertainty Th8 preparation of the financial slalements requi9 management lo make judgements. estimates and assumptions Ihal 8ffecl the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors. including expectations of fijlure events that are believed to be reasonable under the Gircumstances. Hwitage assèts 11 is the policy of the CIO not to capitalise heritage assets which compromise the Regimenlal Collection of medals. These are in effect inalienable, held in perpetuity, and are mostly irreplaceable. Any financially based valuation would be misleading lo the value and signsricance of the material Culture involved. The CIO has a clear duty of care for these assets and to make them available for the enjoyment and education of the public as far as p)ssible, commensurate wlth thelr long lem care and preservation. The highest possible standards of collection management are applied, and the catalogues are made availabl& as widely as possible lo facilitsle all enqulries and requests for infomialion, subject to appropriate security and data protection guidelines.
Docusign En¥ÈlopÈ ID". 20595F23-EO92487C-A315-9B1D635B1AC7 The Green Howards Trust Notes to the Financlal Statements fcontlnu8dJ Y•ar •nded 31 December 2022 A¢utIng pollcles {conUnuedJ Fund accounllng Unrestricted funds are available for use at the disuetion of the truste8S to further any of the charity's purposes. Design2ted funds are unrestricted funds 8arniark8d by thè trustees for partI19r future prO1t or commitment. Reslricled funds are subjeclgd to reslriclions on their expenditure dedared by the donor or through the terms of an appeal, and fall into one of Iwo sub-dasses: $trted income funds or endowmenl funds. Incoming rosourcgs l incoming resources are included in the slaternenl of financial activrties when entitlement has passed lo the charity., it is rxobable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The followng specific wlicies are applied lo partthlar categories of income.. income from donations or gr8nls is recognised when there is evidence of entitlement lo the gift. receipt is probable and ils amount can be measured reliably. legacy income is recognised wh8n r8cèipI is probable and 8ntitlement is established. income from donated goods is measured at the fair value of the goods unless this 18 impractical lo measure reliably. in which case the value is derNed from the cost lo the donor or Ihe estimated resale value. Donated facilities and services are recognised in the accounts when received rf the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of serye$ is rewgnised with the delivery of the contracted service. This is classrfied as unrestricted funds unless there is a contractual requirem8nl for il to be spent on a particular purpose and returned rf unspent, in which case it may be regarded as reslricled. 10
Docusign En¥ÈlopÈ ID". 20595F23-EO92487C-A315-9B1D635B1AC7 The Green Howards Trust Notes to the Financlal Statéments (contlnu•dJ Year ended 31 December 2022 Accounting polldes (contlnuedj Re80urces oxpended Expenditure is recognised on an accruals basis as a liabllity Is Incurred. Expenditure Includes any VAT which cannot be fully recovered. and Is clasSrfd under headings of the stslemenl of financial activities to which it relates.. expenditure on raisiro funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs in(yJrred by a charity in urKlertaking aclivrties thal further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relaling lo the governance of the charity apportioned lo charitable activities. other expenditure Includes all expendlture that is neithw related lo raising fvnds for the charity nor part of its expenditure on charitable activities. All costs are allocated lo expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activty- Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Tanglble a8sots Tangible assets are initially recorded al ¢ost. and subsequently staled al cost less any accumulated depreciation and impairment lossès. Any tangible assets carriad at revaluad amounts are recorded th the fair value al the dale of revaluation less any subsequent accumulated depreciation a1 subsequent accumulated impairment losses. An increase in th8 carrying amount of an asset as a regult of a revaluation, is recognised In other recognised gains and losses, unless it rev8rses a charge for impairment that has previously been recognised as expenditure within the statement of financi aclivilies. A decrease in the carrying amount of an asset as a result of revaluation. is recognised in other recognised gains and losses, except lo which it offsets any previous revaluation gain, in which case the Iosg is shown within other recognised gains and10sses on the slatement of financial 1VitieS. Dgpro¢iatlon Depreciation is calGulaled so as to Write off the cost or valuallon of an asset. less its residual value. over the useful econom lrfe of that asset as follows.. Long leasehold property Fixtures and fittings Equipment 2% slraighl line 10Vo straight line 3 years straight line Investments Unlisted equty investments are inilrally recorded al cost, and subsequently measured al fair value. If fair value cannot be reliably measured. assets are measured at cost less impairment. Listed investments are measured al fair value with changes In fair value being recognised in income or expenditure. 11
Docusign En¥ÈlopÈ ID". 20595F23-EO92487C-A315-9B1D635B1AC7 The Green Howards Trust Notes to the Flnanclal Statemènts iGonllnugd) Year ended 31 December 2022 Accountlng polieiès (Gontlnu Stocks Stocks are measured at the lower of cost and eslimaled selling price less costs lo complete and sell. Cost indudes all costs of purchase. costs of conversion and other costs incurred in bringing the Stock to its present location and condition. Government grants Governmenl grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there 15 reasonable assurance that the charity will comply with the condittons attaching to them and the grants will be received. Where the grant does not impose specified fijture performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, r( is recognised in InMe only when the p8rfomiance-relaled conditions hav8 been met. Where grants f1ve¢j are prior lo salisfying the revenue recognilion criteria, they are recognised as a Flnancial Instruments A financial asset or a financial liability is recognised only when tho entity becomes a party lo the contractual provisions of the inslrum8nl. Basic financial instruments are initially recognised at the amount receivable or payable induding any related transaction costs. The charlty does not use ary financlal instruments whSch are deemed lo be non-baslc. Defined ¢ontrlbutlon plans Conlritrrtjtions to defined contribution plans are recognlsed as an expense in the perlod In which the related servic8 is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment wtll lead lo a reduction in future payment5 or a cash refvnd. Donatlons and grants Unreslricled Total Funds Unreslricled Total Funds Funds 2022 Funds 2021 Donatlons GeTEral donalb)n$ 19,476 19,476 14.002 14,002 12
Docusign En¥ÈlopÈ ID". 20595F23-EO92487C-A315-9B1D635B1AC7 The Green Howards Trust Notes to the Financial Statements l¢onthMd) Yèar ended 31 December 2022 Donations and grants (comlntsed) Unrestricted Total Funds Unrestricted Total Funds Funds 2022 Funds 2021 Grants MOD wages grant Artfund Friends of the Green Howards Museum Sainsbury's Trust Grant Government grant income 24,485 1.752 24.485 1.752 22.305 4,245 22,305 4,245 3,879 3,879 3,000 5,000 61.917 3.000 5,000 61.917 12,751 62,343 12.751 62,343 110,469 110,469 Charitabl• activities unStriCted Totsl Funds unstriCted Total Funds Funds 2022 Fund5 2021 Admissions and museum events 32,263 32,263 22,653 22,653 Other trading activities Unreslricled Total Funds Unr8slricled Total FLtnds Funds 2022 Funds 2021 Sts)p sale5 Cafe 44.152 502 44.152 502 40,598 7.688 40,598 7.688 44,654 44,654 48,286 48,286 Investment Income Unreslrrcted Total Funds Unresthcled Total Funds Funds 2022 FurKIs 2021 Income from listed investments Bank interest receNable 67,422 21 67,422 21 53.6YJ 53,659 67,443 67,443 53,660 53,660 Ralslng fund8 Unrestricted Funds Restricted Total Funds Funds 2022 Advertising Exhibitions and special projects 5.726 24.083 5,726 24,083 29,809 29,809 13
Docusign En¥ÈlopÈ ID". 20595F23-EO92487C-A315-9B1D635B1AC7 The Green Howards Trust Notes to the Financial Statements Icontlnued) Year ended 31 December 2022 Ralslng funds (conalnu8d) Unreslricled Funds Reslricled Total Funds Funds 2021 Advertising Exhibitions and speci81 proj8Cts 4.318 3,727 4,318 6,363 1.636 8,045 1,636 9.681 Cos1$ of trading activities Unreslricled Total Funds Unrestricted Total Funds Funds 2022 Funds 2021 Shop costs Cafe costs 24,932 1.623 24.932 1.623 21.375 2.540 21,375 2,540 26,555 26,555 23,915 23,915 10. Invostm•nt managgmont ¢o8ts Unrestricted Total Funds Unreslricled Total Funds Funds 2022 Funds 2021 Investment management charges 21,694 21,694 19,S17 19,517 11. Expendbture on charltabl• actlvltles by fund type Unrestitted Funds Restricted Total Funds Funds 2022 Museum costs Support $1$ 246,491 11,5931 244,898 39,316 285,807 (1,593) 284,214 39,316 Unrestricted Funds Restricted Total Funds Funds 2021 Museum Costs Support costs 237,686 4,150 40,332 278,018 4,150 241,836 40,332 282,168 14
Docusign En¥ÈlopÈ ID". 20595F23-EO92487C-A315-9B1D635B1AC7 The Green Howards Trust Notes to the Financlal Statements (conlinu¢dJ Year ended 31 December 2022 12. Expendtture on charitable activities by activity typ• Activities undertaken diroctty Supptsrt Total funds costs 2022 Totsl fvnd 2021 Museum costs Govemance ¢o$ts 285,807 285.807 {1.593) 284,214 278,018 4,150 {1,593) {1,593} 285.807 282.168 13. Net {lo¥sesygains on invèstmants unrestrtell Totsl Funds Unrestricted Total Funds Funds 2022 Fundg 2021 Gainslllosses) on listed investments (312.491 } (312,491) 252,979 252,979 14. Not (•xp•ndltureylncome Net (expend1tureyirrne is stated after Ghargingl(creditingl'. 2022 2021 Depreciation of tangible Ted assets Loss on disposal of heritsge assets 79,356 79,892 9.201 15. Indepondent oxamlnatlon fees 2022 2021 Fees payabl8 to the independent examiner for.. Independent examinatson of the financial statements 4,500 16. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows.. 2022 2021 Wages and salaries Social security costs Employer contributions to pension plans 127,541 6,107 5.857 131,525 6.788 6.271 139.505 144,584 The average head count of employees during the year was 7 (2021.. 7). The average number of full-lime equivalent emoYeeS during the year is analysed as follows.. 2022 No. 2021 No. Museum No employee received employee benefits of more than £60,000 during the year {2021'. Nill. 1S
Docusign En¥ÈlopÈ ID". 20595F23-EO92487C-A315-9B1D635B1AC7 The Greon Howards Trust Notss to the Financial Statements {contimMd) Year ended 31 December 2022 17. Trustee remunèration and expenses No r8munerallon or other benefrts from employment with the charity or a related enlty were received by the trustees. 18. Tangiblo fixed assets Long Freehold leaSed Fixtures and property property ftitings Equipment Total Cost At l January 2022 and 31 Docgmber 2022 20,OLX) 1.049,824 582,465 11.773 1,664,062 Depreclation At 1 January 2022 Charge for the year At 31 Decemb•r 2022 107,940 20.996 301,307 58,248 11.661 112 420.908 79.356 128,936 359,555 11,773 500,264 Carrying amount At 31 December 2022 20,000 20,000 920,888 941,884 222,910 1.163.798 Al 31 December 2021 281,158 112 1,243,154 19. Investments Cash or cash Listed equivalents investments Total Cost or valuation At 1 JanLJary 2022 Additions Disposals Fair value movements Other movements 17,398 2.983,758 3,001.156 364,031 364,031 1365.332) {365.3321 1312,4911 {312,4911 111,0961 {16,971} 2,658,870 2,670,393 {5,8751 11.523 At 31 December 2022 lrnpairmont At 1 January 2022 and 31 DeGembgr 2022 Carrylng amount Al 31 December 2022 11.523 2,658,870 2,670,393 At 31 December 2021 17,398 2,983,758 3,001.156 All Inveslmenls shown above are held at valuatlon. Finan¢ial assots held at falr value The Green Howards Trust is the sole trustee of The Green Howards Regimental Museum (registered charity number 2726451. The Tnjst assumed control over the subsidiary on 1 January 2017 when il became the sole trustee. A linking directlon has been granted by the Charity Commission btheen the Iwo charities. 16
Docusign En¥ÈlopÈ ID". 20595F23-EO92487C-A315-9B1D635B1AC7 The Green Howards Trust Notes to the Financial Statements (¢ontthu¢dJ Year ended 31 December 2022 20. $to¢k¥ 2022 2021 Finished goods and gocxls for resale 2S,061 19.102 21. Debtors 2022 2021 Trade debtors Prepayments and accrued income Other deblors 395 3,989 374 491 3,616 375 4,758 4,482 22. Credilors: amounts falling due within on• year 2022 2021 Trade creditors Accruals and deferred income Social security and other taxes Other creditors 21.189 4.500 1.072 727 3.058 4.500 4.882 2.497 27,488 14,937 23. Pensions and othor post r8tirement banofits Defined contrlbutlon plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £5,85712021." £6.271). 24. Govwnment grants The amounts reCgnIsed in the financial stslements for government grants are a5 follows.. 2022 2021 Recognised in income from donations and legacw: Government grants income 12.751 61,917 17
Docusign En¥ÈlopÈ ID". 20595F23-EO92487C-A315-9B1D635B1AC7 The Green Howards Trust Notes to the Flnancial Statements (¢ontlnu¢d) Year ended 31 December 2022 25. Analysi8 of charitable fund8 Unrestrlctod funds At Gains and 31 Doc 202 losse$ At 1 Jan 2022 Income Expenditure Transfers General funds 3,720,923 206.703 {322,9561 (312,4911 3,292,179 At Gains and 31 Dec 202 losses At 1 Jan 2021 Income Expenditure Transfers General funds 3,528,284 235.068 {293,313} (2,095) 252,979 3,720,923 Reslrlcted funds At Gains and 31 Dec 202 losses At 1 Jan 2022 Income Expenditure Transfers Restricted Funds 660,088 139,3161 620,772 At Gains and 31 Dec 202 lo$se$ At 1 Jan 2021 Income Expenditure Transfers Restricted Funds 699.961 (41,968} 2,095 660,088 18
Docusign En¥ÈlopÈ ID". 20595F23-EO92487C-A315-9B1D635B1AC7 The Green Howards Trust Notes to the Financial Statoments (COlu*d} Year ended 31 December 2022 25. Analysls of charitable funds (contlAu Balance at 31 December 2022 Balance at 1 January 2022 Income Expenses Transfers Museum Development Fund Nonnandy Memorial Fund Weston Loan with Art Fund Programme AIM Fund & AMOT Conseryation Medal Room Project- HLF Med21 Purchases 609.782 (36,3441 573,438 18.976 18,976 6.867 (772) 6,095 1,938 1.938 18.614 3.911 12,200) 16,414 3,911 660,088 (39,316) 620.772 Purposes of reStrted fijnds The Museum Development Fund is restricted for future expeThYilure on the ongoing project lo redevelop the Green Howards Museum, including future depreciation charges on Gapitsl improvements made to the museum. The Normandy Momorial Fund was created from a donation from The Green Howards Normandy Memorial Trust and expgndilure is restricted in line with the former Gharity's objects. The Weston Loan with Art Fund PrcwJramm8 15 restricted to enable the museum lo borrow objects from national museums. The AIM Fund is a restricted fvnd for the purpose of carrying out a collections care audit. The AMOT Conservation Fund is restricted for lexlil8 conservation. The Medal Room Project is the refurbishment of the medal room incorporating a new display of Victoria Cross medals. This has been funded by the Heritsge Lottery Fund. The Medal Purchases Fund is lo be used only for the purchase of medals. 19
Docusign En¥ÈlopÈ ID". 20595F23-EO92487C-A315-9B1D635B1AC7 The Green Howards Trust Notes to the Financial Statements (contthu8dJ Year ended 31 December 2022 26. Analysls of nét assets betW89n fund$ Unrestricted Fun(Is Restricted Total Funds Funds 2022 Tangible fixed assets Investments Current assets Creditors le5S than 1 year N•t ass•ts 628,523 2,670.393 20,751 {27.488) 535,275 1,163,798 2,670,393 106,248 (27,488) 3,912,951 85,497 3,292,179 620.772 Unrestricted Funds Reslricte(l Total Funds Funds 2021 Tangible fixed assets Investments Current assets Creditors less than 1 year Not assels 668,563 3,001,156 66,141 (14,937} 3,720,923 574,591 1,243,154 3,001.156 151,638 (14,937) 4,381,011 85,497 660,088 20
Docusign En¥ÈlopÈ ID". 20595F23-EO92487C-A315-9B1D635B1AC7 The Green Howards Trust Management Inforniation Year ended 31 December 2022 Tho following pas do not fomi part of tho flnanclal statements. 21
Docusign En¥ÈlopÈ ID". 20595F23-EO92487C-A315-9B1D635B1AC7 The Green Howards Trust Detail•d Statement of Financial Activities Year ended 31 December 2022 2022 2021 Income and endowments Donatlons and grants General donations MOD wages grant Art fund Friends of the Green Howards Museum Sainsbury's Trust Grant Govemmenl grant income 19,476 24,485 1,752 3,879 14.002 22.305 4,245 3,000 5.000 61.917 12,751 62.343 110.469 Charitablè activities Admissions and museum events 32,263 22,653 Othèr trading actlvltles Shop sales 44.152 502 40.598 7,688 44.654 48,286 Investment income Income from listed investments Bank interest receivab18 67,422 21 53,659 67.443 53.660 Total income 206,703 235.068
Docusign En¥ÈlopÈ ID". 20595F23-EO92487C-A315-9B1D635B1AC7 The Green Howards Trust Detailed Statement of Financial Activities (¢onNn4Md) Year ended 31 December 2022 2022 2021 Expondituro Raising funds Purchases Advertising {24,083) (5,726) (29,809) (5,363) (4,318) 19,681) Costs of tradlng actlvltles Purchases Other office C1$ (25,733) (822) (26,555) (23,580) {335) (23,915) Investment management costs Investment management Gharges (21,694) (19,517) ExpenditUf• on charltablè actlvltlos Wage5 and salarie5 Employerfs NIC Pension costs Repairs and maintenare Insuran Other motorltravel costs Legal and professlonal fees Other office Gos15 Depreciation Other interest payable and similar charges Reallocation of heritage assets Non-recoverable VAT and sundry expenses Subscription$ {127,541) {131,525) (6,107) (6,788) 15,857) 16.271) (11,21S) 12,856) (37,4851 {23.218) 12,184) 12,050) 14,586) {17.927) 19,411) 15,568) {79,3561 {79,892) (527) (9,201) 1,475 4,345 11,947) (6W) (284,214) {282,168) Total expondltur¢ {362.272) {335,281) Net (lossesygalns on inv88tments Gainsl{lossesl on listed investments {312,491) 252,979 Net (expenditureyincome {468,060) 152,766
Docusign En¥ÈlopÈ ID". 20595F23-EO92487C-A315-9B1D635B1AC7 The Green Howards Trust Not•s to the Detailed Statement of Financial Actlvltles Year ended 31 December 2022 2022 2021 Raising funds Advertising Advertising {5,726) {4,318) Exhlbltlons and 8peclal projects Exhibition5 and special projects 124,083) (5.363) Ra181ng fund8 129.809) {9.681) Costs of trading actfvltles Shop costs Shop costs - purchaseg Shop costs - card merchant fees (24.1101 {8221 (24,9321 (21,0401 (335) {21,375> Cafe Go¥t$ Cafe - purchases {1,6231 {2,$40) Cost¥ of trading activities (26,555) {23,915)
Docusign En¥ÈlopÈ ID". 20595F23-EO92487C-A315-9B1D635B1AC7 The Green Howards Trust Notes to the Detslled Statsment of Financial Activities {contlmied) Year ended 31 December 2022 2022 2021 Expendlturo on charltsble activiti•s Museum ¢osts Actlvltles undertaken directly Wages Employerfs NIC Pension costs Repairs & maintenance Security & insurance Travel cosls Legal & professional fees Stationery & comwler costs Depreciation Reclassrfication of heritage assets Sundry expenses Subscriptions {127.541) {131,525) 16,107) {6.7881 15.857) {6,2711 {11,2151 {2,8561 {37,4851 {23,2181 12,184) (2,OSOI {8,7871 {5.5681 179,8921 {9,2011 14.704} {1,1721 11.947) (6) {285,807) 1278.0181 19.411) (79,356) Governance costs Accountancy fees Other financE costs Non-recoverable VAT {4,586) {9,140) (527) 5,517 6,179 1.593 14.150) Expondlturo on charltable acllvlllo8 1284.2141 1282.168) 25
Docusign En¥ÈlopÈ ID". 20595F23-EO92487C-A315-9B1D635B1AC7