Charity Registration Number: 1183992
The Devonshire and Dorset Regimental Trust
Unaudited Financial Statements
31 December 2023
SM Accountancy Services (South West) Ltd Chartered Certified Accountants
The Devonshire and Dorset Regimental Trust
Statement of Financial Activities
Year Ended 31 December 2023
| Page | ||
|---|---|---|
| Trustees' annual report | 1 | |
| Independent examiner's report to the trustees | 4 | |
| Statement of financial activities | 5 | |
| Statement of financial position | 6 | |
| Notes to the financial statements | 7 |
The Devonshire and Dorset Regimental Trust
Trustees' Annual Report
Year ended 31 December 2023
The Trustees present their report and the unaudited financial statements of the Charity for the year ended 31 December 2023.
Reference and administrative details
Registered Charity name The Devonshire and Dorset Regimental Trust Charity registration number 1183992 Principal office Wyvern Barracks Barrack Road Exeter Devon EX2 6AR
The Trustees
Brig Simon Young CBE DL Brig Richard Toomey CBE DL Lt Gen Alexander Storrie CB CBE Brig Carl Boswell Col Christopher Beattie Lt Col Geoffrey Nicholls Lt Col William Sharpe MBE Capt Jeremy Archer WO2 Alan Hincke Capt Michael Jarrett Independent examiner Stephen Morton FCCA SM Accountancy Services (South West) Ltd 4 Bampton Avenue Chard TA20 1DS
Structure, governance and management
Governing document
The Devonshire and Dorset Regimental Trust is a Charitable Incorporated Organisation established on the 20 June 2019. It is a registered charity, number 1 183992. Brought about from the amalgamation of two active charities to one. This made the Regimental Charity (Number 1054968) and Regimental Association Charity (Number 1054963) redundant and they have been closed.
Risk Management
The Trustees have assessed the major risks the Charity faces and are satisfied that the systems are in place to mitigate its exposure to them.
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The Devonshire and Dorset Regimental Trust
Trustees' Annual Report
Year ended 31 December 2023
Objectives and activities
The objective of the Charity is to promote the efficiency of the Army for the public benefit, in particular but not exclusively by:
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Maintaining contact between past and present members of the Devonshire and Dorset Regiment (and any successor Regiment or unit, including The Rifles) ("The Regiment") and the former Regiments: The Devonshire Regiment, The Dorset Regiment and affiliated reserve and Cadets Unit (the former Regiments), fostering mutual friendship between them, and providing opportunities to enable serving and former members to mix together;
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Fostering esprit de corps, comradeship, and the welfare of The Regiment and its members;
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preserving the traditions and heritage of The Regiment and former Regiments, in particular by: i) Providing for the upkeep and maintenance of museums associated with The Regiment or the former Regiments and their contents for the acquisition of new exhibits relating to The Regiment or former Regiments for public display at such museums; and ii) providing for the preservation and maintenance of memorials, wherever they may be, and chapels in public places of worship associated with The Regiment or any of the former Regiments;
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providing for the general benefit of bodies connected to The Regiment or the former Regiments; and
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providing relief to past and present members of The Regiment or former Regiments and their dependents who are in conditions of need, hardship or distress.
Achievements and performance
The Annual Reunion returned to Exeter with the Drumhead Service sited on Cathedral Green near the Memorial. The weather was fine and once again a good turn-out from members and their families, meeting up with old comrades and friends, embracing the RIFLES family this year.
Branches continue to be active and remain in touch with members by social media and regular branch meetings. The annual Newsletter, valued by all and published in March each year, continues to be the backbone of Regimental connectivity and is well worth the cost. The monthly Janner was re-introduced and sent far and wide to our members.
Funerals were represented on every occasion by our stalwart Standard Bearers paying their respects to comrades, sometimes travelling way outside the County.
Remembrance events were well supported in Devon and Dorset and members travelled to London to take part in the Cenotaph Parade and Field of Remembrance. Battlefield trips continue to Normandy and Holland and are such an integral part of the Regiment.
The Charity continues to support all aspects of the Regiment and members of the Association.
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The Devonshire and Dorset Regimental Trust
Trustees' Annual Report
Year ended 31 December 2023
Financial review
During the year the incoming resources totalled £23,153 (£23,175 – 2022) The total expenditure for the year was £55,472 (£62,305 - 2022) The Charity awarded grants during the year totalling £16,419 (£18,897 - 2022)
Investment Policy
The investment portfolio continues to be managed by Schroders and is overseen by The Rifles Investments Sub Committee.
Public Benefit
In planning our activities for the year we kept in mind the Charity Commission guidance on public benefit.
Reserves Policy
The Trustees are satisfied that the level of reserves, as shown in the balance sheet, is adequate to cover known and anticipated costs in the short term. Current assets are enough to cover anticipated costs in the next 12 months.
£789,734. of the Charity's reserves are held in long term assets which are there to continue to generate income for the Charity in the future.
The reserves policy is reviewed annually.
The reserves policy is reviewed annually.
The Trustees' Annual Report was approved on .............................. and signed on behalf of the Board of Trustees by:
Brig Simon Young CBE DL Trustee
Lt Col G S Nicholls Trustee
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The Devonshire and Dorset Regimental Trust
Independent examiner's report on the accounts
Year Ended 31 December 2023
I report to the Trustees on my examination of the accounts of The Devonshire & Dorset Regimental Trust (“the Charity”) for the year ended 31 December 2023
Responsibilities and basis of report
As the Charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention (other than that disclosed below *) in connection with the examination which gives me cause to believe that in, any material respect:
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accounting records were not kept in accordance with section 130 of the Act or
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the accounts do not accord with the accounting records
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Stephen Morton FCCA Independent Examiner SM Accountancy Services (South West) Ltd
4 Bampton Avenue Chard Somerset TA20 1DS
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The Devonshire and Dorset Regimental Trust
Statement of Financial Activities
Year Ended 31 December 2023
| Unrestricted Total funds funds Note £ £ Income and endownments Donations and legacies 1 4,603 4,603 Charitable activities 2 5,002 5,002 Investment income 3 13,548 13,548 Total income 23,153 23,153 Expenditure Expenditure on charitable activities 4,5,6 55,472 55,472 Total expenditure 55,472 55,472 Net gains /loss (-) on investments 32,715 32,715 Net income and net movement in funds 396 396 Reconciliation of funds Total funds bought forward 871,286 871,286 Total funds carried forward 871,682 871,682 2023 |
2022 Total funds £ 9,538 2,811 10,826 |
|---|---|
| 23,175 | |
| 62,305 | |
| 62,305 | |
| 60,350 - |
|
| 99,480 - |
|
| 970,766 | |
| 871,286 |
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The Devonshire and Dorset Regimental Trust
Statement of Financial Position
31 December 2023
| Note Fixed Assets Tangible fixed assets Investments 9 Current assets Debtors Cash at bank and in hand Creditors: amounts falling due within one year Net current assets Total assets less current liabilities NET ASSETS Funds of the charity Unrestricted funds TOTAL CHARITY FUNDS |
2023 Total funds £ 154 789,734 789,888 8,696 78,289 86,985 5,191 81,794 871,682 871,682 871,682 871,682 |
2022 Total funds £ 205 757,019 |
|---|---|---|
| 757,224 | ||
| 9,048 110,088 |
||
| 119,136 | ||
| 5,074 | ||
| 114,062 | ||
| 871,286 | ||
| 871,286 | ||
| 871,286 | ||
| 871,286 |
These financial statements were approved by the board of trustees and authorised for issue on
…....................................., and are signed on behalf of the board by:
Brig Simon Young CBE DL Trustee
Lt Col G S Nicholls Trustee
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The Devonshire and Dorset Regimental Trust
Notes to the Financial Statements
Year Ended 31 December 2023
1 Donations and legacies
| Unrestricted Total funds funds £ £ Donations Legacies & Donations 3,027 3,027 Gift Aid 1,576 1,576 4,603 4,603 Charitable activities Unrestricted Total funds funds £ £ Charitable activities Reunion 5,002 5,002 Lottery - 5,002 5,002 2023 2023 |
Unrestricted funds £ 8,751 787 9,538 Unrestricted funds £ 2,111 700 2,811 |
2022 Total funds £ 8,751 787 |
|---|---|---|
| 9,538 | ||
| 2022 Total funds £ 2,111 700 |
||
| 2,811 |
2 Charitable activities
3 Investment Income
| Unrestricted Total funds funds £ £ Investment Income Income from listed investments 12,453 12,453 Bank interest receiveable 1,095 1,095 13,548 13,548 2023 |
Unrestricted funds £ 10,598 228 10,826 |
2022 Total funds £ 10,598 228 |
|---|---|---|
| 10,826 |
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The Devonshire and Dorset Regimental Trust
Notes to the Financial Statements
Year Ended 31 December 2023
4 Expenditure on charitable activities by fund type
| Unrestricted Total funds funds £ £ All activities 36,724 36,724 Support costs 2,329 2,329 Exceptional costs of charitable activities 16,419 16,419 55,472 55,472 2023 |
2022 Unrestricted Total funds funds £ £ 41,368 41,368 2,040 2,040 18,897 18,897 62,305 62,305 |
|---|---|
(Included in All Activities are Minibus costs of £1,339 (2022 £2,118)
5 Analysis of support costs
| Governance costs Trustees' expenses |
Analysis of support costs £ 2,240 89 2,329 |
Total 2023 £ 2,240 89 2,329 |
Total 2022 £ 2,003 37 |
|---|---|---|---|
| 2,040 |
6 Analysis of grants
| Keep military Museum - Dorchester Exeter Cathedral Sherborne Abbey Fovant Badges Chapels & Memorials Total grants |
Total 2023 £ 13,871 750 250 600 948 16,419 |
Total 2022 £ 12,000 - - - - |
|---|---|---|
| 12,000 |
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The Devonshire and Dorset Regimental Trust
Notes to the Financial Statements
Year Ended 31 December 2023
7 Staff costs
The average head count of employees during the year was 1 (2022: 2).
No employee received employee benefits of more than £60,000 during the year (2021: Nil).
8 Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
During the year a total of one trustee was reimbursed expenses incurred on behalf of the charity totalling £89 (last year, one trustees were reimbursed £37).
The Regimental Secretary was paid £11,000 in 2023 and this is listed under wages and salaries. The Regimental Assn Ssec was paid £5,000 (2022 £4,000).
| 9 Investments Cost or valuation At 1 January 2023 Additions Disposals Fair value movements At 31 December 2023 |
Listed Investments £ 757,019 - - 32,715 |
|---|---|
| 789,734 |
10 Related parties
There were no further related party transactions to disclose during the year other than those disclosed in the trustee remuneration and expenses note.
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