2024-03-31-accounts

Trusteesreport
Contents
	Page
Charityinformation	3-4
Trustees'report	5-13
Independentauditor'sreport	14-17
Statementoffinancialactivities	18
Balancesheet	19
Statementofcashflows	20
Notestothefinancialstatements	21-37

Trustees'report
Charityregistrationnumber:	1174874
Companyregistrationnumber:	10922587
Principaloffice:	199BoroughHighStreet,LondonSE11AA
GrandPresident:	GeneralTheLordRichardsofHerstmonceuxGCBCBEDSODL
DeputyGrandPresident:	MajorGeneralGIMitchellCB	MBE(andTrustee)
Trustees:	ColonelMJWinarickOBE	(from13February2024)
	MrJMArcher
	CaptainPChambers	(from13February2024)
	MrJCoward
	MajorGeneralCHElliottCVO	CBE
	BrigadierAWFreemantleCBEDBA
	BrigadierJCLKingMBE
	ColonelAJMartinONZM
	MrsEStrouts
	MrsEAWatkinsDL
	ColonelJMBowlesMBE	(to6December2023)
	ColonelPADavisCBE	(to6December2023)
	MrALHolmesOBE	(to6December2023)
	ColonelMSlatteryRRC	(to6December2023)
	BrigadierDAWilliamsMBE	(to6December2023)
	LieutenantCommanderMRHawthornMBERN(to20May2024)

	Notes	Unrestricted	Designated	Restricted	Totalfunds	Totalfunds
					Yearended31	Yearended
		funds	funds	funds	Mar2024	31Mar2023
						(note2)
		£	£	£	£	£
Income
Donationsandlegacies
Donations,grantsand
appeals	3	563,282		505,372	1,068,654	1,211,687
FCDOgrant	7			1,868,835	1,868,835	2,552,398
Legacies				-		5,000
		563,282		2,374,207	2,937,489	3,769,085
Incomefrom
investments	4	39,471	135	3,560	43,166	24,930
Totalincome		602,753	135	2,377,767	2,980,655	3,794,015
Expenditure
Expenditureonraisingfunds
Fundraisingcosts	5	43,743			43,743	52,098
Poppysuppliesand
freightcharges		14,855			14,855	14,436
		58,598			58,598	66,534
Expenditureoncharitable	activities
RCELwelfaregrants	6	870,591	15,849	558,467	1,444,907	1,228,761
FCDOwelfaregrants	7		-	1,869,086	1,869,086	2,541,944
Totalexpenditure		929,189	15,849	2,427,553	3,372,591	3,837,239
Net(expenditure)
beforeinvestment
gains		(326,436)	(15,714)	(49,786)	(391,936)	(43,224)
Gains/(losses)on
investments		36,545			36,545	(22,932)
Net(expenditure)
beforetransfers		(289,891)	(15,714)	(49,786)	(355,391)	(66,156)
Transfersbetween
funds		(30,000)	30,000	-
Netmovementinfunds		(319,891)	14,286	(49,786)	(355,391)	(66,156)
Totalfundsbrought
forward		1,712,244	36,069	165,245	1,913,558	1,979,714
Totalfundscarried
forward	16,17,18,19	1,392,353	50,355	115,459	1,558,167	1,913,558

		2024	2023
	Notes	£	£
Fixedassets
Intangibleassets	12	2,092
Investments	13	1,202,148	1,373,131
		1,204,240	1,373,131
Currentassets
Debtors	14	3,740	13,403
Cashatbankandinhand		410,061	577,285
		413,801	590,688
Creditors:amountsfallingduewithin
oneyear	15	(59,874)	(50,261)
Netcurrentassets		353,927	540,427
Netassets	19	1,558,167	1,913,558
Representedby:
Unrestrictedfunds	16	1,392,353	1,712,244
Designatedfunds	17	50,355	36,069
Restrictedfunds	18	115,459	165,245
		1,558,167	1,913,558

	Yearended	Yearended
	31Mar2024	31Mar2023
	£	£
Cashflowsfromoperatingactivities
Net(expenditure)	(355,391)	(66,156)
Adjustmentsfor:
Depreciation	303
(Gain)/lossoninvestments	(36,545)	22,932
Interestincome	(43,166)	(24,930)
Decreaseintradeandotherdebtors	9,663	625
Decrease/(increase)intradeandothercreditors	9,613	(19,332)
Cashflows(usedin)operatingactivities	(415,523)	(86,861)
Cashflowsfrominvestingactivities
Purchaseofinvestments*	(32,472)	(20,864)
Proceedsondisposalofinvestments*	240,000	175,000
Interestreceived	43,166	24,930
Purchaseoffixedassets	(2,395)	-
Cashflowsgeneratedfrominvestingactivities	248,299	179,066
Net(decrease)/increaseincash	(167,224)	92,205

	At1Apr2023	Movementincash	At31Mar2024
	£	£	£
Cashatbank	577,285	(167,224)	410,061

	Unrestricted	Designated	Restricted	Totalfunds
	funds	funds	funds	2023
	£	£	£	£
Income
Donationsandlegacies
Donations,grantsandappeals	686,850		524,837	1,211,687
FCDOgrant			2,552,398	2,552,398
Legacies			5,000	5,000
	686,850		3,082,235	3,769,085
Incomefrominvestments	23,109	62	1,759	24,930
Totalincome	709,959	62	3,083,994	3,794,015
Expenditure
Expenditureonraisingfunds
Fundraisingcosts	52,098		-	52,098
Poppysuppliesandfreightcharges	14,436			14,436
	66,534			66,534
Expenditureoncharitableactivities
RCELwelfaregrants	625,755	102,661	500,345	1,228,761
FCDOgrants	-	-	2,541,944	2,541,944
Totalexpenditure	692,289	102,661	3,042,289	3,837,239
Netincome/(expenditure)before
investmentgains	17,670	(102,599)	41,705	(43,224)
Gainsoninvestmentassets	(22,932)			(22,932)
Net(expenditure)/incomebeforetransfers	(5,262)	(102,599)	41,705	(66,156)
Transfersbetweenfunds
Netmovementinfunds	(5,262)	(102,599)	41,705	(66,156)
Totalfundsbroughtforward	1,717,506	138,668	123,540	1,979,714
Totalfundscarriedforward	1,712,244	36,069	165,245	1,913,558

	Unrestricted	Designated	Restricted	Yearended
	funds	funds	funds	31Mar2024
				Totalfunds
	£	£	£	£
Affiliationfees	240			240
DonationsfromMemberOrganisations	240,000			240,000
DonationsinkindfromMemberOrganisation
(seenotea)	62,880		-	62,880
Contributionsfromexternalfundsto
administration(seenoteb)	20,000			20,000
Otherdonations	240,162		505,372	745,534
	563,282		505,372	1,068,654
	Unrestricted	Designated	Restricted	Yearended
	funds	funds	funds	31Mar2023
				Totalfunds
	£	£	£	£
Affiliationfees	260			260
DonationsfromMemberOrganisations	240,000			240,000
DonationsinkindfromMemberOrganisation (seenotea)	60,346			60,346
Contributionsfromexternalfundsto administration(seenoteb)	34,222			34,222
Otherdonations	352,022		524,837	876,859
	686,850		524,837	1,211,687
a.ThedonationsinkindfromTheRoyalBritish	Legionweremadeupasfollows:-
			Yearended	Yearended
			31Mar2024	31Mar2023
			£	£
Donationoflapelpoppies			14,682	14,322
Freeofficeaccommodationandservices			48,198	46,024
			62,880	60,346
				24

	Yearended	Yearended
	31Mar2024	31Mar
		2023
	£	£
RoyalAirForceBenevolentFund		6,191
RoyalNavyBenevolentTrust		5,156
ABFTheSoldiers'Charity	20,000	20,000
TheOfficers'Association		2,875
	20,000	34,222

Incomefrominvestments
	Unrestricted	Designated	Restricted	Yearended
	funds	funds	funds	31Mar
				2024
				Totalfunds
	£	£	£	£
Dividendincome	13,906		-	13,906
Interestonfixeddeposit	18,563			18,563
Otherbankdepositinterest	7,002	135	3,560	10,697
	39,471	135	3,560	43,166
	Unrestricted	Designated	Restricted	Yearended
	funds	funds	funds	31Mar
				2023
				Totalfunds
	£	£	£	£
Dividendincome	16,541	-		16,541
Interestonfixeddeposit	4,203			4,203
Otherbankdepositinterest	2,365	62	1,759	4,186
	23,109	62	1,759	24,930

Fundraisingcosts
	Yearended	Yearended
	31Mar2024	31Mar2023
	£	£
Directfundraisingcosts	685	216
Supportcosts(seenote8)	43,058	51,882
	43,743	52,098

RCELwelfaregrants
	Unrestricted	Designated	Restricted	Yearended
	funds	funds	funds	31Mar
				2024
				Totalfunds
	£	£	£	£
Fundsadministeredanddisbursedonbehalfofother
charities			430,409	430,409
GrantstoMemberOrganisations	608,279		128,058	736,337
Projectgrants	16,306			16,306
Welfaretourcosts	14,835			14,835
Supportcosts(seenote8)	231,171	15,849		247,020
	870,591	15,849	558,467	1,444,907
	Unrestricted	Designated	Restricted	Yearended
	funds	funds	funds	31Mar
				2023
				Totalfunds
	£	£	£	£
Fundsadministeredanddisbursedonbehalfofother
charities			464,783	464,783
GrantstoMemberOrganisations	437,208		33,141	470,349
Projectgrants			2,422	2,422
Welfaretourcosts	21,338			21,338
Supportcosts	167,208	102,661		269,869
	625,754	102,661	500,346	1,228,761

henumberofindividualcasesassistedduringtheperiodwasasfollows:-
	2024	2023
	Number	Number
FromtheCharity'sownfunds	3,473	4,114
Fundsadministeredanddisbursedonbehalfofothercharities(Agency	485	544
work)
	3,958	4,658

7	FCDO
		Unrestricted	Designated	Restricted	Yearended	Yearended
		funds	funds	funds	31Mar	31Mar
					2024	2023
					Totalfunds	Totalfunds
		£	£	£	£	£
Income
FCDO	income-welfare			1,505,028	1,505,028	2,268,899
FCDO	income-operational			363,807	363,807	283,499
				1,868,835	1,868,835	2,552,398
Expenditure
FCDO	welfaregrants			1,519,777	1,519,777	2,155,161
FCDO	othercosts(seenote8)			349,309	349,309	386,783
				1,869,086	1,869,086	2,541,944

				Yearended	Yearended
				31Mar2024	31Mar2023
	Welfare	FCDOothercosts	Fundraising	Totalfunds	Totalfunds
	£	£	£	£	£
Staffcosts(seenote9)	139,868	270,919	19,883	430,670	439,440
Conferences&meetings	20,673	25,050	2,819	48,542	137,778
Officeaccommodation&services	31,858	7,096	9,715	48,669	46,566
Travel&subsistencecosts	21,087	21,034	1,110	43,231	29,021
Deliveryexpenses		203		203
Othercosts	14,184	1,415		15,599	7,785
Legalcosts	4,959	(450)	2,442	6,951	10,020
Auditor'sremuneration
- Audit	8,898	5,381	4,383	18,662	9,500
Accountancyservices	2,192	17,019	1,080	20,291	21,021
Annualreport	3,301	1,642	1,626	6,569	7,403
Total(seenotes5and6)	247,020	349,309	43,058	639,387	708,534

Staffcosts
	Yearended	Yearended
	31Mar2024	31Mar2023
	Totalfunds	Totalfunds
Wagesandsalaries	302,620	303,390
Socialsecuritycosts	30,506	33,805
Pensioncosts(seenote11)	33,013	29,019
Staffinsuranceandhealthcare	11,255	13,943
Overseasprojectofficers(contractstaff)	53,276	59,283
Staffcosts	430,670	439,440

		2024	2023
		No.	No.
£60,001	-£70,000	1
£70,001	-£80,000	1
£80,001	-£90,000		1

12 Intangiblefixedassets
	Website
Cost
Balanceat1April2023	2,063
Additions	2,395
Disposals	(2,063)
Balanceasat31March2024	2,395
Depreciation
Balanceat1April2023	2,063
Depreciationintheyear	303
Disposals	(2,063)
Balanceasat31March2024	303
Netbookvalue
At31March2024	2,092
At31March2023
13 Investments
	2024	2023
At1April	1,373,131	1,550,199
Additions	32,472	20,864
Disposals	(240,000)	(175,000)
Realisedandunrealisedgainsonportfolio	36,545	(22,932)
Marketvalueat31March	1,202,148	1,373,131
Historicalcostoflistedinvestments	279,068	486,596
Theportfoliodidnotincludeanyindividualshareholdingsinexcessof5%ofthetotal.
Thesplitoftheholdingswasasfollows	2024	2023
Listedinvestments	543,328	612,874
Cashbalances	658,820	760,257
		30

14	Debtors
		2024	2023
		£	£
Prepayments		3,028	9,573
Other	debtors	712	3,830
		3,740	13,403
15	Creditors:amountsfallingduewithinoneyear
		2024	2023
		£	£
Taxationandsocialsecurity		8,389	10,294
Accruals		34,206	23,129
Deferredincome		15,000	15,000
Other	creditors	2,279	1,838
		59,874	50,261

	At1April2023	Income	Expenditure	Gainson	Transfer	At31Mar2024
				investments	betweenfunds
	£	£	£	£	£	£
Accumulatedfund	1,712,244	602,753	(929,189)	36,545	(30,000)	1,392,353
	At1April2022	Income	Expenditure	Gainson	Transfer	At31Mar2023
				investments	betweenfunds
	£	£	£	£	£	£
Accumulatedfund	1,717,506	709,959	(692,289)	(22,932)		1,712,244

7 Designatedfunds
	At1Apr2023	Income	Expenditure	Transfer	At31Mar2024
				betweenfunds
	f	f	f	£	£
ConferenceFund	33,276		(15,849)	30,000	47,427
StaffContingencyFund	2,793	135			2,928
Total	36,069	135	(15,849)	30,000	50,355
	At1Apr2022	Income	Expenditure	Transfer	At31Mar2023
				betweenfunds
ConferenceFund	135,937	-	(102,661)		33,276
StaffContingencyFund	2,731	62	-		2,793
Total	138,668	62	(102,661)		36,069

	At1Apr	Income	Expenditure	At31Mar
	2023			2024
	£	£	£	£
FCDO	1,546	1,868,835	(1,869,086)	1,295
TheAskariAppeal	58,193	2,829	-	61,022
PrincePhilipLodgeFund	163	-	-	163
AuchinleckAppeal	22,163	731	(22,894)	-
Legacy:IndianArmyAssociation	31,031		-	31,031
TRBLWomen'sSection	11,339	-	(465)	10,874
QueenMary'sRoehamptonTrust		20,000	(20,000)	-
AfricanVeterans		30,000	(30,000)
RARZimbabwe		12,943	(12,943)
MStJWayCharitableTrust	30,000	-	(30,000)	-
Fundsadministeredonbehalfofother
charities(agencywork)	10,810	430,674	(430,410)	11,074
Otherrestrictedgrants		11,755	(11,755)
	165,245	2,377,767	(2,427,553)	115,459
	At1Apr	Income	Expenditure	At31Mar
	2022			2023
	£	£	£	£
FCDO	(8,908)	2,552,398	(2,541,944)	1,546
TheAskariAppeal	54,778	3,415		58,193
PrincePhilipLodgeFund	163	-		163
AuchinleckAppeal	21,771	5,392	(5,000)	22,163
Legacy:IndianArmyAssociation	31,031	-		31,031
TRBLWomen'sSection	11,788	-	(449)	11,339
QueenMary'sRoehamptonTrust	-	20,000	(20,000)
AfricanVeterans	2,422	-	(2,422)
MStJWayCharitableTrust	-	30,000		30,000
Fundsadministeredonbehalfofother
charities(agencywork)	10,495	465,098	(464,783)	10,810
Otherrestrictedgrants		7,691	(7,691)	-
	123,540	3,083,994	(3,042,289)	165,245

	Unrestricted	Designated	Restricted	Totalfunds
	funds	funds	funds	2024
	£	£	£	£
Intangibleassets	2,092	-	-	2,092
Investments	1,202,148		-	1,202,148
Currentassets	247,987	50,355	115,459	413,801
Currentliabilities	(59,874)		-	(59,874)
	1,392,353	50,355	115,459	1,558,167
	Unrestricted	Designated	Restricted	Totalfunds
	funds	funds	funds	2023
	£	£	£	£
Intangibleassets
Investments	1,373,131	-	-	1,373,131
Currentassets	389,374	36,069	165,245	590,688
Currentliabilities	(50,261)	-	-	(50,261)
	1,712,244	36,069	165,245	1,913,558

	31Mar2024	31Mar2023
	Totalfunds	Totalfunds
	£	£
TheRoyalBritishLegionannualdonation	240,000	240,000
TheRoyalBritishLegion(seenote4a)	62,880	60,346