**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:
- 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;
- Fostering esprit de corps, comradeship, and the welfare of The Regiment and its members;
- 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;
- providing for the general benefit of bodies connected to The Regiment or the former Regiments; and
- 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:
- accounting records were not kept in accordance with section 130 of the Act or
- 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
**4**
## **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|
**5**
## **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
**6**
## **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|
**7**
## **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|
**8**
## **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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