| 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 |