| Trustees | Brigadier (retired) G H F | S | Nickerson | ||||
|---|---|---|---|---|---|---|---|
| Col J D LLeask MBE | |||||||
| The Rt Hon Sir lain Duncan | Smith PC MP | ||||||
| Major N A McClelland | |||||||
| Mrs L Hobbs | |||||||
| Captain (retired) M Joynson |
|||||||
| Captain (retired) P D Vail |
|||||||
| Regimental | Adjutant | Major (retired) J R Kelly | |||||
| Regimental | Welfare and Finance Officer | Major (retired) M ACape |
(Company | Secretary) | |||
| Charity | number | (England and Wales) | 1174691 | ||||
| Charity | number | (Scotland) | SC048007 | ||||
| Company | number | 10596645 | |||||
| Principal | address | The Castle | |||||
| Edinburgh | |||||||
| EHI 2YT | |||||||
| Registered | office | Regimental Headquarters |
Scots Guards | ||||
| Wellington Barracks |
|||||||
| Birdcage Walk | |||||||
| London | |||||||
| SW1E6HQ | |||||||
| Auditor | Alliotts LLP | ||||||
| Manfield House |
|||||||
| 1 Southampton Street |
|||||||
| London | |||||||
| WC2R OLR | |||||||
| Bankers | Lloyds TSBBank Pic | ||||||
| Cox's and King's | |||||||
| PO Box1190 | |||||||
| 7 Pall Mall | |||||||
| London SW1Y5NA | |||||||
| Investment | advisors | Ruffer LLP | |||||
| 80 Victoria Street | |||||||
| London SW1E5JL | |||||||
| AUBREY Capital Management | |||||||
| 10Goatee Crescent | |||||||
| Edinburgh EH3 7AL |
|||||||
| Asset Risk Consultants | (UK) Ltd (ARCUK) | ||||||
| 46 Chancery lane |
|||||||
| London WC2A1JE |
| Page | ||
|---|---|---|
| Supporting the regiment |
1-2 | |
| Trustees' report |
3-5 | |
| Statement oftrustees' |
responsibilities | |
| Independent auditor's |
report | 7-10 |
| Statement offinancial | activities | |
| Balance sheet | 12 | |
| Notes to the financial | statements | 13-22 |
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |||
|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||||
| 2023 | 2023 | 2023 | 2022 | 2022 | 2022 | |||
| Notes | F | 8 | F | 6 | F | 6 | ||
| Ittgftm~m; | ||||||||
| Donations and |
||||||||
| legacies | 404,512 | 404,512 | 206,597 | 206,597 | ||||
| Charitable activities |
56,209 | 56,209 | 30,154 | 30,154 | ||||
| Other trading | ||||||||
| activities | 6,597 | 6,597 | 7,016 | 7,016 | ||||
| Investments | 42,129 | 42,129 | 38,447 | 38,447 | ||||
| Total income | 509,447 | 509,447 | 282,214 | 282,214 | ||||
| ExugttfliItmun; | ||||||||
| Raising funds | 82,418 | 82,418 | 52,571 | 52,571 | ||||
| Charitable activities |
8 | 396,932 | 396,932 | 363,548 | 363,548 | |||
| Total expenditure | 479,350 | 479,350 | 416,119 | 416,119 | ||||
| Net gains/(losses) | on | |||||||
| investments | 12 | (299,776) | (299,776) | (104,119) | (104,119) | |||
| Net movement | in | funds | (269,679) | (269,679) | (238,024) | (238,024) | ||
| Fund balances | at 1 April | |||||||
| 2022 | 8,072,214 | 2,014 | 8,074,228 | 8,310,238 | 2,014 | 8,312,252 | ||
| Fund balances | at | 31 | ||||||
| March 2023 | 7,802,535 | 2,014 | 7,804,549 | 8,072,214 | 2,014 | 8,074,228 |
| 2023 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| Notes | 6 | 6 | |||||
| Fixed assets | |||||||
| Intangible assets | 15 | 3,456 | 4,320 | ||||
| Tangible assets | 16 | 112,423 | 112,423 | ||||
| Investments | 17 | 7,263,163 | 7,571,516 | ||||
| 7,379,042 | 7,688,259 | ||||||
| Current assets | |||||||
| Stocks | 18 | 11,823 | 12,483 | ||||
| Cash at bank and in | hand | 426,915 | 384,690 | ||||
| 438,738 | 397,173 | ||||||
| Creditors: amounts | falling due within | ||||||
| one year | 19 | (13,231) | (11,204) | ||||
| Net current assets | 425,507 | 385,969 | |||||
| Total assets less current | liabilities | 7,804,549 | 8,074,228 | ||||
| Income funds | |||||||
| Restricted funds | 2,014 | 2,014 | |||||
| Unrestricted funds |
|||||||
| Designated funds |
20 | 7,263,165 | 7,571,516 | ||||
| General unrestricted |
funds | 539,370 | 500,698 | ||||
| 7,802,535 | 8,072,214 | ||||||
| 7,804,549 | 8,074,228 |
| Donations | and | giRs |
|---|---|---|
| Grants |
| Unrestricted | Unrestricted |
|---|---|
| funds | funds |
| 2023 | 2022 |
| 6 | 6 |
| 376,690 | 186,469 |
| 27,822 | 20,128 |
| 404,512 | 206,597 |
| 2023 | 2022 |
|---|---|
| 6 | E |
| 56,209 | 30,154 |
| Unrestricted | Unrestricted |
|---|---|
| funds | funds |
| 2023 | 2022 |
| F | |
| 6,597 | 7,016 |
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2023 | 2022 | ||
| F | F | ||
| Investment | income | 39,751 | 38,162 |
| Interest receivable | 2,378 | 285 | |
| 42,129 | 38,447 |
| Unrestricted | Unrestricted | ||||||
|---|---|---|---|---|---|---|---|
| funds | funds | ||||||
| 2023 | 2022 | ||||||
| 6 | |||||||
| Fnriin | n | ||||||
| Other fundraising | costs | 34,092 | |||||
| Investment | managers' | fees | 48,326 | 52,571 | |||
| 82,418 | 52,571 | ||||||
| 8 | Charitable | activities | |||||
| Grants | Grants | ||||||
| payable | payable | ||||||
| 2023 | 2021 | ||||||
| 6 | F | ||||||
| Depreciation | and | impairment | 864 | 240 | |||
| Charitable | expenditure | 102,425 | 156,789 | ||||
| 103,289 | 157,029 | ||||||
| Grant funding | of | activities (see note 10) | 152,489 | 67,405 | |||
| Share ofsupport | costs (see note 9) | 130,402 | 126,535 | ||||
| Share ofgovernance | costs (see note 9) | 10,752 | 12,579 | ||||
| 396,932 | 363,548 |
| Support | Governance | 2023 | Support | Governance | 2022 | |||
|---|---|---|---|---|---|---|---|---|
| costs | costs | costs | costs | |||||
| 6 | 6 | 6 | 8 | |||||
| Honorarium | 48,375 | 48,375 | 47,493 | 47,493 | ||||
| Archives | 9,654 | 9,654 | 6,690 | 6,690 | ||||
| Magazine, | Diary and | |||||||
| Christmas | cards | 21,176 | 21,176 | 19,720 | 19,720 | |||
| Postage | 9,309 | 9,309 | 5,916 | 5,916 | ||||
| Flowers and | wreaths | 466 | 466 | 780 | 780 | |||
| Fees and | insurance | 14,133 | 14,133 | 14,472 | 14,472 | |||
| Events and | GiRs | 3,962 | 3,962 | 14,364 | 14,364 | |||
| Travel costs | 187 | 187 | ||||||
| Regimental | stock | 6,094 | 6,094 | 4,933 | 4,933 | |||
| Regimental | ||||||||
| Headquarters | costs | 17,233 | 17,233 | 11,980 | 11,980 | |||
| Audit fees | 10,752 | 10,752 | 12,579 | 12,579 | ||||
| 130,402 | 10,752 | 141,154 | 126,535 | 12,579 | 139,114 | |||
| Analysed | between | |||||||
| Charitable | activities | 130,402 | 10,752 | 141,154 | 126,535 | 12,579 | 139,114 |
| Grants | Grants | ||||||
|---|---|---|---|---|---|---|---|
| payable | payable | ||||||
| 2023 | 2022 | ||||||
| 6 | 6 | ||||||
| Grants to institutions: | |||||||
| Clothworker's | Grant - Awarded | to 1st Battalion & 'F' company | Scots Guards | ||||
| Regiment | 22,004 | 20,000 | |||||
| Scots Guards | Regiment- | Command | officer, 'F' & 'K' companies | and Band Grants | 11,050 | 11,050 | |
| 33,054 | 31,050 | ||||||
| Grants to individuals | 119,435 | 36,355 | |||||
| 152,489 | 67,405 |
| Unrestricted Unrestricted |
Unrestricted Unrestricted |
|||
|---|---|---|---|---|
| funds | funds | |||
| 2023 | 2022 | |||
| F | 6 | |||
| Revaluation | of | investments | (286,797) | (115,759) |
| Gain/(loss) | on | sale of investments | (12,979) | 11,640 |
| (299,776) | (104,119) |
| There were | 2 individuals in receipt of honoraria pay |
ments | |
|---|---|---|---|
| 2023 | 2022 | ||
| Number | Number | ||
| Honoraria | costs | 2023 | 2022 |
| 8 | 2 | ||
| Honoraria | 47,375 | 46,501 | |
| Pension | 1,000 | 992 | |
| 48,375 | 47,493 |
| 15 | Intangible fixed assets |
Intangible fixed assets |
||
|---|---|---|---|---|
| Information | system | |||
| 6 | ||||
| Cost | ||||
| At 1 April 2022 and 31 March 2023 | 4,800 | |||
| Amortisation | and impairment | |||
| At 1 April 2022 | 480 | |||
| Amortisation | charged for the year | 864 | ||
| At 31 March | 2023 | 1,344 | ||
| Carrying amount |
||||
| At 31 March | 2023 | 3,456 | ||
| At 31 March | 2022 | 4,320 |
| Tangible fix | ed assets | ||||
|---|---|---|---|---|---|
| Fixtures and | Chattels | Atlantic | Total | ||
| fittings | Guardsmen | ||||
| 6 | |||||
| Cost or valuation | |||||
| At 1 April 2022 | 21,587 | 52,423 | 63,257 | 137,267 | |
| At 31 March | 2023 | 21,587 | 52,423 | 63,257 | 137,267 |
| Depreciation | and impairment | ||||
| At 1 April 2022 | 21,587 | 3,257 | 24,844 | ||
| At 31 March | 2023 | 21,587 | 3,257 | 24,844 | |
| Carrying amount |
|||||
| At 31 March | 2023 | 52,423 | 60,000 | 112,423 | |
| At 31 March | 2022 | 52,423 | 60,000 | 112,423 |
| Fixed as | set investments | |||
|---|---|---|---|---|
| Listed | Cash in | Total | ||
| investments | portfolio | |||
| 6 | ||||
| Cost or valuation | ||||
| At 1 April | 2022 | 7,241,371 | 330,145 | 7,571,516 |
| Additions | 3,468,310 | 3,468,310 | ||
| Valuation | changes | (286,797) | (146,323) | (433,120) |
| Disposals | (3,343,542) | (3,343,542) | ||
| At 31 March 2023 | 7,079,342 | 183,822 | 7,263,164 | |
| Carrying | amount | |||
| At 31 March 2023 | 7,079,342 | 183,822 | 7,263,164 | |
| At 31 March 2022 | 7,241,371 | 330,145 | 7,571,516 |
| 18 | Stocks | ||||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| 6 | 6 | ||||
| Raw materials | and consumables | 11,823 | 12,483 | ||
| 19 | Creditors: amounts | falling due within one year | |||
| 2023 | 2022 | ||||
| 6 | 6 | ||||
| Other taxation | and social security | 2,671 | |||
| Trade creditors | 840 | ||||
| Accruals and deferred | income | 10,560 | 10,364 | ||
| 13,231 | 11,204 |
| Balance at | Transfers | Balance at | Transfers | Balance at | ||
|---|---|---|---|---|---|---|
| 1 April 2021 | 1April 2022 | 31 | March 2023 | |||
| E | F | E | ||||
| Investment | Fund | 7,790,044 | (218,528) | 7,571,516 | (308,351) | 7,263,165 |
| 7,790,044 | (218,528) | 7,571,516 | (308,351) | 7,263,165 |
| Analysis of | net assets | between funds | |||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | ||
| funds | funds | funds | funds | ||||
| 2023 | 2023 | 2023 | 2022 | 2022 | 2022 | ||
| E | E | E | E | E | E | ||
| Fund balances at 31 | |||||||
| March 2023 | are | ||||||
| represented | by: | ||||||
| Intangible fixed assets |
3,456 | 3,456 | 4,320 | 4,320 | |||
| Tangible assets | 112,423 | 112,423 | 112,423 | 112,423 | |||
| Investments | 7,263,163 | 7,263,163 | 7,571,516 | 7,571,516 | |||
| Current assets/(liabilities) |
423,493 | 2,014 | 425,507 | 383,955 | 2,014 | 385,969 | |
| 7,802,535 | 2,014 | 7,804,549 | 8,072,214 | 2,014 | 8,074,228 |
| non-cancellable operating leases, which fall due as follow |
s: | |
|---|---|---|
| 2023 | 2022 | |
| F | E | |
| Within one year | 13,537 | 14,093 |
| Between two and five years | 1,688 | 6,325 |
| 15,225 | 20,418 |