||||Page||
|---|---|---|---|---|
|Report ofthe Trustees|||to|4|
|Report ofthe Independent|Auditors|5|to|7|
|Statement ofFinancial Acthrities|||||
|Balance Sheet|||||
|Notes to the Financial Statements||10|to|20|
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|||FORT|HEYEAR ENDED 31DECEM|BER2022||
|---|---|---|---|---|---|
|||||2022|2021|
|||||Unrestricted|Total|
||||hlotes|funds|fundsf|
|INCO5IIE AND ENDOWMENTS||FROM||||
|Donafions and legacies|||||12,018|
|Investment
income||||289,865|220,368|
|Total||||289,865|232,386|
|EXPENDITURE ON||||||
|Raising funds||||29,900|9,708|
|Charitable
activities||||||
|Grantmaking||||148,389|295,674|
|Total||||178,289|305,382|
|Net gains/(lasses)|on investments|||(319,699)|164,167|
|NET INCOMEI(EXPENDITURE)||||(208,123)|91,171|
|RECONCILIATION|OF FUNDS|||||
|Total funds
brought|forward|||5,097,432|5,006,261|
|TOTAL FUNDS CARRIED FORWARD||||4,889,309|5,097,432|
||BALANCE SHEET
31DECEMBER2022|||
|---|---|---|---|
|||2022|2021|
|||Total|Total|
|||funds|funds|
||Notes|6|5|
|FIXEDASSETS||||
|Tangible assets
Heritage assets|10
11|754
64,110|1,298
76,183|
|Investments||||
|Investments|12|2,906,757|3,217,188|
|Investment
property|13|1,737,000|1,709,000|
|||4,708,621|5,003,669|
|CURRENT ASSETS||||
|Debtors|14|10,237|5,717|
|Cash at bank||217,177|276,440|
|||227,414|282,157|
|CREDITORS||||
|Amounts
falling due within one year|15|(46,726)|(188,394)|
|NET CURRENT ASSETS||180,688|93,763|
|TOTAL ASSETSLESSCURRENT|LIABILITIES|4,889,309|5,097,432|
|NET ASSETS||4,889,309|5,097,432|
|FUNDS|16|||
|Unrestricted
funds||4,889,309|5,097,432|
|TOTAL FUNDS||4,889,309|5,097,432|
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|DONATIONS|AND LEGAC|IES|||||||
|---|---|---|---|---|---|---|---|---|
||||||||2022f|2021f|
|Donation
by|Hants IOW Territorial|||Trust||||12,018|
|INVESTMENT INCOME|||||||||
||||||||2022|2021f|
|Rents received|||||||141,438|95,593|
|Grant ofthe|right ofaccess|across car park|||||22,500||
|Dividends
from equities|||||||125,879|123,957|
|Interest from|cash deposits||||||48|818|
||||||||289,865|220,368|
|All investment
income is derived|||from assets held in the United||Kingdom|and overseas.|||
|RAISING FUNDS|||||||||
|Investment|management|costs|||||||
||||||||2022|2021|
|Commission|and management||fees||||1,000|1,000|
|Investment
advice|||||||6,671|(454)|
|Bad debts|||||||18,888||
|Property repairs and maintenance||||||||434|
|Insurance|||||||968|1,025|
|Sundry expenses|||||||72|708|
|Estate agent|and survey fees|||||||6,205|
|Printing and|advertising||||||1,756|243|
|Depreciafion|||||||545|547|
||||||||29,900|9,708|
|CHARITABLE ACTIVtTIES COSTS|||||||||
|||||||Grant|||
||||||funding of||||
||||||activities||Support||
||||||(see note||costs (see||
|||||||7)f|note 8)
f|Totalsf|
|Grantms king|||||107,823||40,566|148,389|
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||FOR THE YEAR ENDED 31DECEMB|ER2022||
|---|---|---|---|
|6.|DIRECT COSTSOF CHARITABLE ACTMTIES|||
|||2022|2021|
||||6|
||Book project costs||6,000|
|7.|GRANTS PAYABLE|||
|||2022|2021|
|||6||
||Grentmaking|107,823|251,743|
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|The tots! g|rants
paid to institutions
durin|g the year was as follows:|||
|---|---|---|---|---|
||||2022|2021|
|Reserves|||||
||4th Bn PWRR HQ||2,000|601|
||128 Coy REME||2,195||
||2Tp 579 Field Sqn RE||500|1,250|
||679 (Duke ofConnaughts)|Sqn AAC|1,724||
||CCoy 4 PWRR
CCoy 6th BnThe Rifles||3,500
750||
||MOD Leighton House||2,500||
||Royal Wessex Yeorsanry||400|500|
||Southampton
UOTC||2,200|980|
|Cadets|||||
||1105(City ofWinchester)
Sqn ATC||1,400||
||Alton School CCF||6,053||
||Andover College CCF||2,648|2,950|
||ARK Charter Academy
CCF
Berkshire Army Cadet Force||5,000|9,016
7,479|
||Brakenhale
School CCF (3|Awards)|12,930|5,000|
||Bnghton
Metropolitan
College CCF||4,944||
||Canford School CCF||5,250||
||Central District Sea Cadets||5,000|7,35D|
||Chichester Free School CCF||2,500||
||City of Portsmouth
College|CCF (2Awards)|5,792||
||Claires Court School CCF|||5,00D|
||Cowes Sea Cadets|||4,680|
||Crawley Sea 8 Marine Cadets|||2,500|
||Denefield School CCF||5,000||
||Effingham
Schools Trust CCF||4,974||
||Famham,
Fleet and Aldershot Sea Cadets|||2,000|
||Hampshire
and Isle ofWight ACF (4Awards)||17,588|7,376|
||Hampshire
and Isle ofWight RAF||5,000|105,000|
||Headquarters
Volunteer Cadet Corps||6,000|19,400|
||HMS Excellent VCC||5,000||
||John Made)ski Academy|||3,011|
||Littlehampton,
Arundel
and|Die(dict Sea Cadets|3,350|3,863|
||Lord Wandsworth
College|||6,000|
||Maidenhead
Sea Cadets|||2,500|
||Marine Society and Sea Cadets|||6,480|
||Newbury Sea Cadets||5,000|8,000|
||Petersfield
School CCF|||1,786|
||Poole Sea Cadets||2,000||
||Porlsmouth
Grammar School CCF||3,285||
||Porlsmouth
Sea Cadets|||1,500|
||Southampton
Sea Cadets|||31,495|
||Surrey District Sea Cadets||4,00D||
||Tisbury detachment
Wiltshire ACF||1,308||
||UTC Reading CCF||4,032|1,576|
||Volunteer Cadet Co~ps Training Centre|||4,500|
||||133,823|251,743|
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|AYABLE - con|tinued||||
|---|---|---|---|---|
|4th Bn PWRR|HQ (2021 grant)||(600)||
|Central
District|Ses Cadets (2022 grant)||(3,500)||
|HMS Excellent|VCC(2019grant)||(5,000)||
|Hampshire
and isle ofWight ATC (2022||grant)|(1,500)||
|Hampshire
Lord Lieutenants
Fund|||(400)||
|Southampton|Sea Cadets (over accrued|in 2021)|(15,000)||
||||107,823|251,743|
|8.|SUPPORT COSTS|SUPPORT COSTS||||||
|---|---|---|---|---|---|---|---|
|||||||Governance||
|||||Management|Finance|costs|Totals|
|||||E|6||L'|
||Grantmaking|||2,403|59|38,104|40,566|
||Support costs, induded||in the above,|are as follows:||||
||Management|||||||
|||||||2022|2021|
||||||||Total|
|||||||Grantmaking
f|activities|
||Marketing|||||1,527|620|
||Sundries|||||108|849|
||ITsupport|||||768|944|
|||||||2,403|2,413|
||Finance|||||||
|||||||2022|2021|
||||||||Total|
|||||||Grantmaking|activities|
||Bank charges|||||59|88|
||Governance costs|||||||
|||||||2022|2021|
||||||||Total|
|||||||Grantmaking|activities|
|||||||6|E|
||Accountancy|||||780|750|
||Auditors'|remuneration||||5,850|866|
||IEFees||||||2,240|
||Executive|to the Trust's|fees|||27,019|26,056|
||Trustees'|expenses||||2,105|2,679|
||Professional fees|||||2,350|2,839|
|||||||38,104|35,430|
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|TANGIBLE FIXEDASSETS||||||
|---|---|---|---|---|---|
||||||Fixtures|
||||||and|
||||||fit0ngs|
||||||E|
|COST||||||
|At 1 January 2022 and 31 December 2022|||||7,119|
|DEPRECIATION||||||
|At 1 January 2022|||||5,821|
|Charge for year|||||544|
|At 31 December 2022|||||6,365|
|NET BOOK VALUE||||||
|At 31 December 2022||||||
|At 31 December 2021|||||1,298|
|HERITAGE ASSETS||||||
|MARKET VALUE|2022|2021|2020|2019|2018|
|At 1 January|76,183|75,315|55,905|55,905|59,605|
|Additions|280|868|19,410|||
|Revaluations|(11,313)||||(3,700)|
|Disposals
At 31 December|(1,040)
64 110|76183|75315|55905|55905|
|NET BOOKVALUE||||||
|At 31 December|64 110|76 183|75315|55905|55905|
##
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|FIXEDASS|ET IN|VEST|MENTS|||||
|---|---|---|---|---|---|---|---|
||||||||Listed|
||||||||investmentsf|
|MARKET VALUE||||||||
|At 1 January|2022||||||3,217,188|
|Additions|||||||30,968|
|Disposals|||||||(5,014)|
|Revaluations|||||||(336,385)|
|At 31 December 2022|||||||2,906,757|
|Cash available to||invest|||||23|
|NET BOOKVALUE||||||||
|At 31 December 2022|||||||2,906,757|
|At 31 December 2021|||||||3,217,188|
|Analysis of|investments||by type:|||||
|||||||2022
f|2021
f|
|Equities||||||1,853,767|2,293,774|
|Bonds||||||333,920|283,592|
|Multi-Asset|Funds|||||47,792|53,779|
|Properly||||||204,929|226,476|
|Other||||||313,101|299,160|
|Cash held within the investment||||porffolio||153,248|60,407|
|||||||2,906,757|3,217,188|
|Analysis of|investments||between|those held within or outside the United|Kingdom:|||
|||||||2022
f|2021|
|Within the United||Kingdom||||1,215,548|1,024,434|
|Outside the|United|Kingdom||||1,691,209|2,192,754|
|||||||2,906,757|3,217,188|
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|FAIR VALUE|||
|---|---|---|
|At 1 January 2022||1,709,000|
|Revaluation||28,000|
|At 31 December 2022||1,737,000|
|NET BOOK VALUE|||
|At 31 December 2022||1,737,000|
|At 31 December 2021||1,709,000|
|Fair value at 31 December 2022 is represented|by:||
|Valuation
in 2022||1,737,000|
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|||||2022|2021|
|---|---|---|---|---|---|
|||||f|6|
|Other debtors||||30|30|
|Accrued|income|||9,210|3,616|
|Prepayments||||997|2,071|
|||||10,237|5,717|
|CREDITORS: AMOUNTS|||FALLING DUE WITHIN ONE YEAR|||
|||||2022|2021|
||||||6|
|VAT||||5,891|9,402|
|Grants payable||||7,195|149,000|
|Deferred|income|(see below)||25,095|25,039|
|Accrued|expenses|||8,545|4,953|
|||||46,726|188,394|
|Deferred income||||2022|2021|
|Brought|forward|||25,039|9,023|
|Amount|released|to incoming resources||(25,039)|(9,023)|
|Amount|deferred|in year||25,095|25,039|
|Carried|forward|||25,095|25,039|
##
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|MOVEMENT|IN FU|NDS||||
|---|---|---|---|---|---|
|||||Net||
|||||movement|At|
||||At 1.1.22|in funds|31.12.22|
|Unrestricted|funds|||||
|General fund|||4,985,985|(206,596)|4,779,389|
|Repairs to Property||Fund|86,822||86,822|
|Marketing
Fund|||18,607|(1,527)|17,080|
|Book project|||6,018||6,018|
||||5.097,432|(208,123)|4,889,309|
|TOTALFUNDS|||5,097,432|(208,123)|4,889,309|
|Net movement|in fu|nds, include|d
in the above|are as follows:||||
|---|---|---|---|---|---|---|---|
|||||Incoming|Resources|Gains and|Movement|
|||||resources|expended|losses|in funds|
|||||6|6|K||
|Unrestricted|funds|||||||
|General fund||||289,865|(176,762)|(319,699)|(206,596)|
|Marketing
Fund|||||(1,527)||(1,527)|
|||||289,865|(178,289)|(319,699)|(208,123)|
|TOTAL FUNDS||||289,865|(178,289)|(319,699)|(208,123)|
|Comparatives|for|movement|in funds|||||
|||||||Net||
|||||||movement|At|
||||||At 1.1.21
8|in funds
f|31.12.21
6|
|Unrestricted|funds|||||||
|General fund|||||4,899,778|66,207|4,965,965|
|Repairs to Property||Fund|||87,256|(434)|86,822|
|Marketing
Fund
Book project|||||19,227|(620)
6,018|18,607
6,018|
||||||5,006,261|91,171|5,097,432|
|TOTAL FUNDS|||||5,006,261|91,171|5,097,432|
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|Comparative|net mo|vement
in funds,
i|ncluded
in the above are as|follows:|||
|---|---|---|---|---|---|---|
||||Incoming
resources|Resources
expended|Gains and
losses|lVlovement
in funds|
||||6|||8|
|Unrestricted|funds||||||
|General fund|||220,368|(298,328)|164,167|86,207|
|Repairs to Properly||Fund||(434)||(434)|
|Marketing
Fund||||(620)||(620)|
|Book project|||12,018|(6,000)||6,018|
||||232,386|(305,382)|164,167|91,171|
|TOTALFUNDS|||232,386|(305,382)|164,167|91,171|
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