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|Trustees' report<br>Contents||
|---|---|
||Page|
|Charityinformation|t-2|
|Trustees'report|3-11|
|lndependentauditor/sreport|t2-15|
|Statement offinancial activities|15|
|Balancesheet|L7|
|Statementofcashflows|x8|
|Notestothe financ¡alstatements|19-34|





## 

|The Royal Commonwea|lth Ex-ServicesLeague|
|---|---|
|Trustees'report||
|Charityregistrationnumber:|1.174874|
|Companyregistrationnumber:|1o922587|
|Principaloffice:|L99 BoroughHighStreet,LondonSE11AA|
|Grand President:|GeneralTheLordRichardsofHerstmonceuxGCBCBE DSO|
|Deputy Grand President:|MajorGeneral GlMitchellCBMBE(and Trustee)|
|Trustees:|MrJMArcher|
||ColonelJMBowlesMBE|
||MrJCoward|
||ColonelPADavisCBE|
||MajorGeneralCHElliottCVOCBE|
||BrigadierAWFreemantleCBEDBA|
||Lieutenant CommanderMRHawthornMBERN|
||MrALHolmesOBE|
||BrigadierJCLKingMBE|
||ColonelAJ MartinONZM|
||ColonelMMSlatteryRRC|
||MrsEStrouts|
||MrsEAWatkinsDL|
||BrigadierDAWilliamsMBE|
|HonoraryRecorder:|ColonelMiWinarickOBE|
|HonoraryLegalAdviser:|MrTEJCase|
|Honorary Medical Adviser:|MajorGeneralDSJolliffeCBEFRCP|
|SecretaryGeneral|Lieutenant ColonelCFWarren|
|ControllerFinance:|MajorDHThompson|
|Bankers:|NationalWestminsterBank plc|
||65 Piccadilly|
||London W1A2PP|
|lndependent auditor:|MazarsLLP|
||90Victoria Street|
||Bristol|
||BS1 6DP|





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18 July 2023 




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## 

|ortheyear ended31|March2O2|3|||||||
|---|---|---|---|---|---|---|---|---|
||Notes|Unrestricted|Designated|Restricted||Totalfunds||Totalfunds|
|||||||Yearended||Yearended|
|||funds|funds|funds|31Mar2023||31Mar2O22||
|||||||||(note2)|
|||f|f|r.||€||f|
|lncome|||||||||
|Donations andlegacies|||||||||
|Donations, grantsand appeals|3|686,850||524,837||1,2!1,687||1,260,s38|
|FCDOgrant|7|||2,552,398||2,ss2,398||2,843,7L0|
|Legacies||||5,000||5,000|||
|lncomefrominvestments|4|23,r09|62|1,759||24,930||16,280|
|Total income||709,9s9|62|3,083,994||3,794,015||4,t20,528|
|Expenditure|||||||||
|Expenditure onraisingfunds|||||||||
|Fundraising costs|5|s2,098||||s2,098||47,397|
|Poppy supplies andfreight|||||||||
|charges||14,436||||14,436||3s,30s|
|||66,534||||66,534||82,702|
|Expenditure on charitable|||||||||
|activities|||||||||
|RCELwelfaregrants|6|625,755rO2,66L||s00,34s||L,228,761||L,302,0s9|
|FCDOgrant|7|||2,54r,944||2,54'J.,944||2,859,380|
|Total expenditure||625,755L02,661,||3,042,289||3,837,239||4,244,141.|
|Net income/(expenditu re)|||||||||
|beforeinvestment|||||||||
|(losses)/gains||\7,670|(102,s99)|47,705||(43,224l||(123,613)|
|(Losses)/gainson investments||(22,932)||||(22,932l.||72,858|
|Net(expenditure)/income<br>before transfers||(s,262)(102,ses)||47,70s||<br>(66,1s6)||<br>(s0,7ss)|
|Transfers between funds|||||||||
|Net movementinfunds||(s,262l.|(102,s99)|4I,705||(66,1s6)||(s0,7ss)|
|Total funds broughtforward||1,717,506|138,668|123,540||L,979,774||2,030,469|
|Total funds carriedforward|L6,t7,L8,L9|L,7!2,244|36,069|L65,245||1,913,558||1,979,714|





## 

## 

|||2023|2022|
|---|---|---|---|
||Notes|î.|f|
|Fixedassets||||
|lntangibleassets|L2|||
|lnvestments|13|1,373,131"|1,550,199|
|||1,,373,r3r|l_,550,1_99|
|Currentassets||||
|Debtors|1,4|13,403|L4,028|
|Cashatbank andinhand||577,285|485,080|
|||590,688|499,rO8|
|Creditors: amountsfallingduewithin||||
|oneyear|15|(50,261)|(69,593)|
|Netcurrentassets||540,427|429,515|
|Netassets|19|1,913,558|1_,979,71_4|
|Representedby:||||
|Unrestricted funds|L6|r,712,244|1,,717,506|
|Designatedfunds|t7|36,069|L38,668|
|Restrictedfunds|18|L65,245|r23,540|
|||1,913,558|1,,979,71,4|





## 

## 

|||Yearended|Yearended|
|---|---|---|---|
|||3tMar2O23|3tMar2022|
|||f|r.|
|Cashflowsfromoperatingactivities||||
|Net (expenditure)||(66,156)|(50,755)|
|Adjustments for:||||
|Loss/(gain)on investments||22,932|(72,858)|
|lnterestincome||(24,9301|(1"6,280)|
|Decrease intradeandotherdebtors||625|24,790|
|Decrease intradeandothercreditors||(19,332)|(9,050)|
|Cashflows(usedin)operatingactivities||(86,861)|lt24,t53l|
|Cashflowsfrominvestingactivities||||
|Purchaseofinvestments*||(2O,864',)|(16,398)|
|Proceedson disposalofinvestments*||175,000|200,000|
|lnterestreceived||24,930|1,6,280|
|Cashflows generatedfrominvesting activities<br>Netincreaseincash||':'ou<br>*,r*|199,882<br>75,729|
|Cashatbank|AttApr2O22<br>f<br>485,080|Movementincash<br>f<br>tr,r*|At31Mar2023<br>f<br>577,285|





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## 

|2<br>Comparative StatementofFinanc|ialActivities-year ended3LM|ialActivities-year ended3LM|arch2O22||
|---|---|---|---|---|
||UnrestrictedDesignated<br>funds<br>funds||Restricted<br>funds|Total funds<br>2022|
||f|f|f|f|
|lncome|||||
|Donations andlegacies|||||
|Donations,grants and appeals|664,282||596,256|1,260,538|
|FCDOgrant|||2,843,7!0|2,843,710|
|Legacies|||||
|lncomefrominvestments|t6,244|4|32|76,280|
|Totalincome|680,526|4|3,439,9984,L20,528||
|Expenditure|||||
|Expenditure onraisingfunds|||||
|Fundraising costs|47,397|||47,397|
|Poppy supplies andfreightcharges|35,305|||35,305|
||82,702|||82,702|
|Expenditure on charitableactivities|||||
|RCELwelfaregrants|680,637|77,804|603,6L8|1.,302,O59|
|FCDOgrants|||2,859,380|2,859,380|
|Total expenditure|763,339|t7,804|3,462,9994,244,L4L||
|Net(expenditure)beforeinvestmentgains|(82,813)|(17,800)|(23,000)|(123,613)|
|Gainsoninvestmentassets|72,858|||72,858|
|Net (expenditure)before transfers|(9,955)|(17,800)|(23,000)(50,755)||
|Transfers between funds|(37,000)|37,000|||
|Netmovementinfunds|(46,955)|t9,2O0|(23,000)|(50,755)|
|Total fundsbroughtforward|1,,764,467|t!9,468|146,540|2,030,469|
|Totalfunds carriedforward|L,7L7,506|138,668|L23,54O|L,979,7L4|





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## 

||Unrestricted|Designated|Restricted|Restricted|Yearended|
|---|---|---|---|---|---|
||funds|funds|funds||31Mar2023|
||||||Total funds|
||f|f||f|f|
|Affiliationfees|260||||260|
|DonationsfromMemberOrganisations|240,000||||240,000|
|Donations inkindfromMember Organisation||||||
|(seenotea)|60,346||||60,346|
|Contributionsfromexternal fundsto||||||
|administration(seenoteb)|34,222||||34,222|
|Other donations|352,022||524,837||876,859|
||686,850||524,837'J,,211,697|||
||Unrestricted|Designated|Restricted||Yearended|
||funds|funds|funds||3lMar2022|
||||||Totalfunds|
||f|f||f|f|
|Affiliationfees|270||||270|
|DonationsfromMemberOrganisations|242,624||||242,624|
|Donations inkindfromMember Organisation<br>(seenotea)|76,659||||76,659|
|Contributions from external fundsto||||||
|administration(seenoteb)|61,77',L,||||61.,771|
|Other donations|2g2,g5g||596,256||879,214|
||664,282||596,256||<br>1,260,538|
|Thedonations inkindfromTheRoyalBritish|Legionweremade upasfollows:-|||||
||||Yearended||Yearended|
|||31 Mar2023||3lMar2022||
||||f||r.|
|Donation oflapelpoppies|||14,322||31,222|
|Freeoffice accommodationandservices|||46,024||45,437|
||||60,346||76,659|





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## 

## 

|wing charitieshave madedonationstocontributeto|theLeague'sadministrationcosts:-|theLeague'sadministrationcosts:-|
|---|---|---|
||YearendedYearended||
||31Mar2023SLMa¡2O22||
||r.E||
|RoyalAirForceBenevolentFund|6,tg!|19,2L4|
|Royal NavyBenevolentTrust|5,156|3,557|
|ABFTheSoldiers'Charity|20,000|20,000|
|TheOfficers'Association|Z,B7S|20,000|
||34,222|6'J.,771|



## 

|<br>lncomefrominvestments|||||
|---|---|---|---|---|
||Unrestricted|Designated|Restricted|Yearended|
||funds|funds|funds|31Mar2023|
|||||Total funds|
||f|f|f|f|
|Dividend income|L6,541|||16,541|
|lnterestonfixed deposit|4,203|||4,203|
|Otherbankdepositinterest|2,365|62|'J,,759|4,786|
||23,r09|62|1.,759|24,930|
||Unrestricted|Designated|Restricted|Year ended|
||funds|funds|funds|3tMa¡2O22|
|||||Total funds|
||f|f|r.|f|
|Dividend income|75,799|||15,799|
|lnterestonfixed deposit|427|||427|
|Otherbankdepositinterest|18|4|32|54|
||'J.6,244|4|32|16,280|





## 

## 

## 

|Notestothefinancialstatements<br>Forthe year ended31March2023<br>5<br>Fundraising costs|||
|---|---|---|
||Yearended|Yearended|
||31Mar2023|3LMa¡2022|
||c.|f|
|Directfundraisingcosts|21.6|6,r72|
|Supportcosts(seenote8)|51,992|41,225|
||52,098|47,397|



## 

|Allamounts relatetounrestricted funds in bothyears<br>6<br>RCELwelfare grants|||52,098|47,397|
|---|---|---|---|---|
||Unrestricted|Designated|Restricted|Yearended|
||funds|funds|funds|31Mar|
|||||2023|
|||||Total funds|
||f|f|î|f|
|Fundsadministeredand disbursedon behalf ofother|||||
|charities|||464,783|464,783|
|GrantstoMemberOrganisations|437,208||33,!4t|470,349|
|Project grants|||2,422|2,422|
|Welfaretourcosts|21,339|||2'J.,339|
|Supportcosts(seenote8)|t67,208|L02,66L||269,869|
||625,7541,02,661,500,346r,229,76L||||
||Unrestricted|Desígnated|Restricted|Yearended|
||funds|funds|funds|31Mar|
|||||2022|
|||||Total funds|
||f|€|r|f|
|Fundsadministeredand disbursedon behalf of other|||||
|charities|||558,881|558,991|
|GrantstoMemberOrganisations|492,249||44,630|536,878|
|Project grants|9,440|||9,440|
|Welfaretourcosts|3,795|||3,795|
|Supportcosts|t75,r54|17,804|ro7|193,065|
||680,637|t7,804|603,619|1_,302,059|





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## 

|Notestothefinancialstatements<br>orthe year ended31March2023<br> <br>Welfare(continued)<br>henumberofindividualcasesassistedduringtheperiodwasasfollows:-||||
|---|---|---|---|
||2021||2022|
||Number||Number|
|Fromthe Charity's ownfunds|4,71"4||4,590|
|Fundsadministeredand disbursedonbehalfof other charities(Agency|544||705|
|work)||||
||4,658||5,285|
||:|:||



## 

|FCDO||||||
|---|---|---|---|---|---|
||Unrestricted|Designated|Restricted|Yearended|Year ended|
||funds|funds|funds|31Mar|31Mar|
|||||2023|2022|
|||||Totalfunds|Total funds|
||f|f|E|f|f|
|lncome||||||
|FCDOincome-welfare|||2,26g,ggg|2,268,899|2,578,41.5|
|FCDOincome-operational|||283,499|283,499|265,295|
||||2,552,398|2,552,3982,843,710||
|Expenditure||||||
|FCDOwelfare grants|||2,L55,'J.61|2,!55,r6t|2,492,888|
|FCDOothercosts|||386,783|386,783|366,492|
||||2,54I,9442,541,944||2,859,380|





## 

## 

## 

|||||Yearended|Yearended|
|---|---|---|---|---|---|
|||||31Mar2023|3tMar2O22|
||Welfare|FCDOothercosts|Fundraising|Totalfunds|Total funds|
||f|r.|f|f|f|
|Staff costs (seenote9)|126,403|292,499|20,539|439,440|427,926|
|Conferences&meetings|94,O75|30,875|L2,828|L37,778|46,184|
|Officeaccommodation &services|23,786|13,51-9|9,26r|46,566|46,971|
|Travel&subsistence costs|1,o57|27,909|56|29,02t|t8,717|
|Othercosts|5,873|L,9L2||7,795|15,634|
|Legalcosts|7,618|(1,350)|3,752|!0,o20|9,937|
|Auditor's remuneration||||||
|-<br>Audit|3,169|4,770|1,56t|9,500|9,744|
|-<br>Otherservices|3,867|L5,249|1,905|2t,o2l|20,874|
|Annual report|4,021|L,4O1.|1,981|7,403|4,795|
|Total(seenotes5and6)|269,869|386,783|51,882|708,534|600,782|



## 

|<br>Staff costs|||
|---|---|---|
||Yearended|Yearended|
||31Mar2023|3LMar2O22|
||Totalfunds|Total funds|
||Ê|f|
|Wages and salaries|303,390|298,908|
|Socialsecuritycosts|33,805|30,877|
|Pension costs (seenote11)|29,0r9|28,908|
|Staff insuranceand healthcare|13,943|11,198|
|Overseasprojectofficers(contractstaff)|s9,283|58,035|
|Staffcosts|439,440|427,926|





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## 

## 

|28,908).<br>12<br>lntangible fixedassets||
|---|---|
||Website|
||f|
|Cost||
|Balanceat1April 2022and31March2023|2,063|
|Depreciation||
|BalanceatlApril 2022and31March2023|2,063|
|Net book value||
|At31March2023||





## 

## 

|Notestothefinancialstatements<br>Forthe year ended31March2023<br>3<br>lnvestments|||
|---|---|---|
||2023|2022|
||f|f|
|At1January|1,550,199|1,660,943|
|Additions|20,964|16,398|
|Disposals|(175,000)|(200,000)|
|Realisedandunrealised gainsonportfolio|(22,9321|72,858|
|Marketvalueat31March|1,373,L3r|1.,550,199|
|Historical cost|486,596|640,732|



## 

|L4<br>Debtors|||
|---|---|---|
||2023|2022|
||f|f|
|Accruedinterest||83s|
|Prepayments|9,573|13,193|
|Other debtors|3,830||
||L3,403|t4,o28|





## 

## 

## 

|5<br>Creditors: amountsfallingduewithinoneye|ar||
|---|---|---|
||2023|2022|
||f|f|
|Taxationand socialsecurity|10,294|9,310|
|Accruals|23,t29|42,869|
|Deferred income|L5,000|15,000|
|Other creditors|1,,838|2,4t5|
||50,26L|69,593|



## 

|6<br>Unrestricted funds|||||||
|---|---|---|---|---|---|---|
||AtlApril2022|lncome|Expenditure|Gainson|Transfer|At31Mar2023|
|||||investments|between funds||
||f|f|f|f|f|€|
|Accumulated fund|1-,717,506|709,9s9|(6s428s|(22,s32)||L,712,244|
||At1Jan 2021|lncome|Expenditure|Gainson|Transfer|At31Mar2022|
|||||¡nvestments|between funds||
||€|€|E|f|f|f|
|Accumulated fund|t,764,46t|680,526|(763,339)|72,959|(37,000)|1,,777,506|





## 

## 

## 

|Fortheyearended3lMa<br>7<br>Designatedfunds|rch2023|||||
|---|---|---|---|---|---|
||AtLApr 2O22|lncome|Expenditure|Transfer|At31Mar2023|
|||||between funds||
||f|€|f|€|f|
|ConferenceFund|135,937||(1o2,667)||33,726|
|StaffContingencyFund|2,73t|62|||2,793|
|Total|138,668|62|(102,661)||36,069|
||AtIApr2021|Income|Expenditure|Transfer|At31Mar2022|
|||||between funds||
|ConferenceFund|98,937|||37,000|135,937|
|Staff ContingencyFund|20,s31|4|(77,8O4)||2,73r|
|Total|ttg,468|4|(L7,8041|37,000|138,668|





## 

## 

|Restricted funds|||||
|---|---|---|---|---|
||At1Apr|lncome|Expenditure|At31Mar|
||2022|||2023|
||f|f|r|f|
|FCDO|(8,908)|2,552,398|(2,54L,944)|1,546|
|The Askari Appeal|54,778|3,415||58,193|
|PrincePhilipLodgeFund|163|||163|
|AuchinleckAppeal|2t,771|5,392|000<br>5,|22,763|
|Legacy:lndian ArmyAssociation|31,031|||31,031|
|TRBLWomen'sSection|Lt,788||(44s)|11.,339|
|QueenMary'sRoehamptonTrust||20,000|(20,000)||
|AfricanVeterans|2,422||(2,422)||
|MStJWay CharitableTrust||30,000||30,000|
|Fundsadministered on behalf ofother|||||
|charities(agencywork)|10,495|465,098|(464,783)|10,810|
|Other restrictedgrants||7,69L|(7,6et)||
||t23,540|3,og3,g94|,ry,|L65,245|
||At1Apr|lncome|Expenditure|At31Mar|
||202L|||2022|
||f|f|f|€|
|FCDO|6,762|2,843,7tO|(2,859,380)|(8,908)|
|The Askari Appeal|53,443|2,463|(1,t28)|54,778|
|PrincePhilipLodgeFund|163|||163|
|AuchinleckAppeal|2L,6t5|209|(s3)|2L,771.|
|Legacy:lndian ArmyAssociation|31,031|||31,031|
|TRBLWomen'sSection|17,500||(5,712',)|L1.,788|
|QueenMary's RoehamptonTrust||20,000|(20,000)||
|African Veterans|4,3r2||(l-,890)|2,422|
|MStJWayCharitable Trust||4,000|(4,000)||
|Fundsadministered on behalf of other|||||
|charities(agencywork)|1.1.,7'J.4|557,662|(558,881)|10,495|
|Other restrictedgrants||tt,954|(11,954)||
||L46,54O|3,439,998|(3,462,9981|t23,54O|





## 



## 

## 

||Unrestricted|Designated|Restricted|Restricted|Totalfunds|
|---|---|---|---|---|---|
||funds|funds|funds||2023|
||f|f||r|f|
|lntangibleassets||||||
|lnvestments|t,373,r3L||||7,373,t31|
|Currentassets|389,374|36,069|1.65,245||590,698|
|Current liabilities|(50,261)||||(50,261)|
||L,7t2,244|36,069|<br>L65,245||<br>1,913,558|
||Unrestricted|Designated|Restricted|Total funds||
||funds|funds|funds||2022|
||r.|f|f||f|
|lntangibleassets||||||
|lnvestments|1,550,199||||1,550,199|
|Currentassets|236,900|138,668|123,540||499,108|
|Current liabllltles|(69,593)||||(69,593)|
||1,7L7,506|138,668|L23,54O||L,g7g,7L4|



## 

## 

|||31Mar2023|StMar2O22|
|---|---|---|---|
|||Total funds|Total funds|
|||r|f|
|The RoyalBritishLegion|annualdonatíon|240,O00|240,OOO|
|The RoyalBritishLegion|(seenote4a)|60,346|,r*|





## 

##