RECISTERED CHARITY NUMBERM 2110524 *tial Sl8te d 315t Whccler & Co Ltd ChBrtered Accountants The ShrubtrKry 14 Churrh Stre¢t Wbitchurch Hampshire RG28 7AB
Th nwil ottBÈ st f he Flfft• r the Ytor Ended 31st MArth 202 Page Rep•rt of th¢ Trnlle ldepeDdellt Ex•mlA•rfs R¢port $th¢¢m4nl of Fli#¢hl Actlvlths Billlte She•t Notu to the FiDiThthl St•¢emeots
Th mlR Witsou tbt Trnstets he Ytir Ended 31st M4rth 2024 The trust¢e5 pres¢ni their TeFOrt with the financial statements of ihe charity for the year cnded 31 March 2024. The tru5tee5 hav¢ adopted the provisions of Accounting and Reporting by Charili¢s.' S18tement of Re¢ommended Practice applicable to charities preparing their aGcoun¢s in accordancc with the Financial Reporling Stsndord applicable in the UK and Republic of Ireland {FRS 102) {etTective l JdnuAry 2019). OBJEcfivFs AND ACTIVITIES ObJe¢tlves And Alms The Charles Benjamin Wilson Bequcst Hom¢ Headquarter5, The King's Roy81 Hussar5, Pcnin8ulf4 Barrdck5, Romsey Road Wsnchcstcr, Harnpshire S023 8TP. is regislrred with the Ch8rity Commission 200524) and reguled by a sch¢ of the Ch8rity Commi&8ion of 4th O¢iober 1999. {1) The nbjed of th¢ Charity i8 the relief of who Hre.. in need. hardship OT di5trrss: and in thc following order of priority former officers ofihe regiment or of the former re8iments, or their d¢pendents: members or fonner rncmbers of ihe r¢Rimcnr or of thc former re8imentS. OT thcir dep¢ndents. {21 The irusie¢s may relicve pcrson5 in nced by: making grants or108ns of money to them.. or b Providing QT payinR for 8ix)d5. services or facilities for them; or m4king gr8nts of money lo oihcr TsOn8 or bodies wlx> provlde 8ood8. servi¢e8 or [11111¢3 ty ¢ho8e in nccd. Pbllt bene The Iruslccs b¢liev¢ thai the charity mcets the requirement of public ben¢flt by virtue of ils adlvlties providing fin&ft¢Sal istance lo armed forKi pergonn¢l who drc in firwicial need and by gT&nt Payments to ¢haritit5 and orn1$&liOnS th&t suprrf)rt th¢ w¢lfgr¢ of armed lorc¢s PEfgonn¢l and thcir d¢pend¢nt¥. AC.HIEVEMENT AND PERFORMANCE R•vlew of Chirlt•bl¢ ActlvliSt The Charity made grwjts lotAlling £?,0 io Thc oifi¢erJ' Associalion. thc Soldiers. S8iloTS, Airmen Fgmilies A550Giation. Salisbury District Hospital ihrouKh their own charity. the Siws APP1. and io The Royal H05pilal Chcl$¢a. The charity al80 worked in partnership with The King's Royal Hussars Regimentsl Trusi Welfare Fund, lSting with 8r4n¢s for 3 cayes totalling £16,129. Inv••¢mtDt P•rforrn4nce The in¢om¢ of the fijnd is obtsird malnly from divider¥Js on inv¢stm¢nts. The Investment Committee of Truste monitors the pcrformaDce of the portfolio in conjun¢tion with the Investmcnt Advisor lo enSUTe the bcsi kx)$sible retum ig obtained consislcnt with the objects ofihc Charity. For the ycar cndcd 3151 Mar¢h 2024 Ihe value of ¢h¢ portfolio itltteased by 6%. Pag¢ I
h#Aes mXD son ort of the Tru51ets forthe Year Ended 31st M•rch 2024 FIIYANCIAL REVIEW lThwesknent polity •nd obJ¢¢dv¢J The tru5tr¢s are aware of their general p)wer of it>vestment as laid down in the Charitics Act 2006 gnd the 5F]riC power of Delegation of Investment M8na8emcnl as laid down in PkTagraph 22 of the Charity CoTnrtLi55ioners Schemc, datsd 4th Oaob¢r 1999. th govcrn3 the C B Wilson Bequest. They havc delegated the investment mageMent to Mr Nicholas Swtl of Stnith Williamson Investment Morta8¢me, Ihe tx>minee holder of the Inve$tment$ and tl Investment Advisor. Th¢ Ir115tec5 havc cstabliBhed an Investhieni CommLlte¢ of the Chaimion, Captain E St J Hall and th¢ Secretory who, with advice from the Invutment Advisor, review thc portfolio make investment decisions ot) b¢half of the Irustces. Changes to the rtfolIO and th¢ r¢430ns for the ¢h8nges are reped the full i¥)ard ot thc AGM by Ihe Inveytment Advisor. The Investmeni Commill¢e inv¢51s in markets where flnancial services are dosely Te8uIAd and ¢omp¢n8&1ion $chem¢s Ar¢ in place. Thc Committee mainioins A suii&bly diverse p)rtfolio and 1$ partitulsrly of making specullYe form of investment. STRUCTURE. COVERNANCE AND MANAGEMENT CovenJin% Doeumtnt The charity 1$ o)ntyolled by lis governing document. a 8chcmc dated 4 Odober 1999. and wnstiNt¢8 •n unlncA)rwrated charity. ConJLe¢t•d Partl¢s The charity is wnncctcd with the King's Roy81 Hussars oifictT5' Trust, The King'5 Roya) Hu55Hrn Rcgimcntd Trust, and the King's Royal Hugsors Mug¢um in Winchcstcr Trust (all of thcm regiBtered charities) by virtue of some common truee. The independ¢n¢e ol'thc chuity 15 ¢n5urcd by there bein8 9 mqiority in number of tnLSteeB who serve only os trustees (Ff thc CB Wi150n Bcquest. REFERENCE AND ADMINISTRATIVE DETAIiS Regiiter•d Ch•rlty numb¢r 200524 PrlntlpAI Iddre Home Headquarters The King's RDyal Hu$8thn Peninsula Barrack& Winthesr Harnp5hire S023 8TP TrnJteeJ CbAIrnigD Capiain S R B M¢rn Members Brigadier J N N Orr Lieutrt C.(FIoDel P J Pcrownc Colonel G H R Tilney MBE Professor D G R Evan$ MB BS MD FRCP Major P J LaW)n Captain E S¢ J Hall Captain R D Barday Captain W H Bancroft lex oificio) Icx ojficio) Se¢r¢try Major S Penkethman
mln Wil f he Tru5ttes the Vt*r Ended 31 t
rth 2024
REFERENCE AND ADMINISTRATIVE DETAIL8 Indepemdemt Ex•mlner K¢viN Wlrtler FCA Whcelcr & Co Ltd The ShTubb¢ry 14 ThuTch Street Wh1hrth Hampshire RG28 7AB Bqnk•n Lloyd5 Bank pl¢ Cox's Kinls Bran¢h PO Box l(HX> BXI ILT Evelyn PortnLYS Investmcnt Mana8¢m¢nt 45 Gresham Street LK•ndon ECIV 7BG Approv¢d by ordcr of th¢ board of tte3 o .. and slgnr)J on Its bEhr by.. ¢rton- Tru*¢ Page 3
Ixd* dent Eximiner's Re ort to the T The Ch8rft5 Ben
min Wilsoth B
Ind¢p¢nd¢N¢ ¢xaminer'J report to tb¢ trnJtet4 of The Chsrlts BtnJthl• Wllwn Beqwest I rcport ihe chority trustees on my examiltiOft of the >Unts of Th¢ Charles Benjamin Wilson B¢qu¢si {Ih¢ Trust) for the year ended 3 1st M4rch 2024. Respoxiibilili¢s ofr•port A5 the charity tru$iees of the Ttwst you ar¢ r¢sNbn$iblc foT the preparation of the actounts in wordthce with the r¢quir¢tn¢nls of the Chariti¢8 Aa 2011 ('tlK Ace). I rtPDrt in respect of my ex8minaiion of the Trust's accounts catTied out undcr Saaion 145 of the Ac( and in c4rrying out my exsmination I have follow¢d applicable Dsrections giv¢n by lh¢ Ch8riry Commission under Scction 145(5)(bl of the Act. Indep¢thd¢nt eXIner'S st•t¢metht I hAVC completd my ¢xwninplion. I c(mfinn that no material matterg have eome to my attention in cfjnnection with the ¢xwnination giving me cause 10 believe that in any makrial respect.. llcwunii08 recoTd5 weye not kept in respe¢1 of the Trust as required by Seeiion 130 of the ACL or the accounts do not o¢cord with ih05c records. or the accounts th no¢ comply with the applic&bl¢ requirement5 conccTning the form ond wnr¢ni of a¢¢ouni$ set out irt thc Charities IAccoyni$ ond Reportsl Regulation8 2008 other thlrt sny requirernenl thDt the COUnts give a true and tair view whirh 15 not a matter nsidered &¥ Pon olan I[rPEndent examination. I have CLtynceTns hav¢ ¢ome acr055 no other matters in ¢ot)ne¢iion wilh the examlnation to whith 8tt¢ntion should be drawn In thi8 r¢Jx>rt in Ordcr to eThobl¢ a prop¢r undcrsianding of Ihe accounts lo be reathwl. Kevin Wh¢¢l¢r FCA Whceler & Co Ltd Ch8rtertd Ac¢oull18th8 The Shrubkry 14 Churcli Street Whilchurch Hamp$hir¢ RG28 7AB Dote.. Pagc 4
1 Stitement of Flllinrll Acthrities forthe Year Euded Jlst March 2024 31.3.24 31.3.23 Total fundJ Unrestricted fijnd INCOME AND EiYIM)WMENTS FROM Investment itKom¢ EXPENDrruRE OIY ChAritablt Aetlvid Direct ch8ritAble eXdi1¢ 23.129 13,913 7.585 7.295 T•tl 30.714 21.208 N¢t gains1(lo¢sI on It)v¢ytm¢nts INCOMEJIEXPENDITURE) 46,071 (21,177) RICONCIUATION OF FUNDS Totsi brought forward 1.046J52 1,067,529 TOTAL FUNDS CARRIED FORWARD 1.046.352 The tM)trs forn part ofth¢ flhanciaj stat¢rnts P8Re 5
min Wll$on ue BAl*thce Sheet 31st Marrh 1024 31.3.24 Unrc5triclcd fund 31.3.23 Total funds Notes FIXED ASSKTS Investments 1,038,168 945.075 CURRENT A&8ETS C&h at bank 56,157 104,171 CREDITORS AmoLhThls (]n8 due within one year {1.6951 (2.894) NET CURRE ASSETS 101277 TOTAL ASSETS LESS CURRENT LIABILITIES 1.092.4JO 1.046.352 ]YET ASSETS 1092 130 1040 352 FUNDS Unrestried furyjs 1.092.430 1.046 352 TOTAL FUNDS 1092.430 1.046 352 The fIT¢1&1 statements wer¢ approvcd by the Board of Trujiees al w¢hoTised for isgu¢ on . and wu¢ $igned on its bthajf by.. ¢rion- Trustee Thr note5 forni port of the financi 5tstrmcnts Pa8¢ 6
hrles ltt Wilson Be o tht Finan ment5 for the Year Ended 31st Mirch 202 ACCOUIYTING POLICIES Bajls of preparing tht fingnti81 Jtt¢Mnts The flnancial $tstonenls of ihe chArity. which IS Z4 publit benefjt entity undrr FRS 102, h&ve been prep8red in a¢¢ordance with ¢h¢ Charities SORP IFRS 1021 'Accounting and RerxTrrting by CharitLes.' Stsm¢nt of Rewrnmended Practice appli¢&bl¢ to charitie5 prepwing iheir accounts in accordan¢c wilh the Finan¢ial Reponing StsndaTd appli¢4ble in the UK and Republic of Ireld {FRS 102) (cffe¢live l Janry 20191., Firtancidl Reportin8 Stsndard 102 'Thc Financial Reporting Standard applicoblc in th¢ UK and Republic of Ireland, and the Charities A 2011. The fLnancial Statem18 have bBen prepared under the hisiorical cost ¢othvenrion. with the ¢x¢¢ption of inv¢stments which are inGlud¢d at market valuG as miKlifLed by th¢ revaluation of certain 8¢1S. lTr¢ome All incoTn¢ 15 Tc¢ogniscd in ihe Statcment of Fingncial A¢tiviiir$ once thc charity has entitlement to the funds. it 15 probAble ihat thc incornc will be rcceivcd Hnd the 8mounl can be meosured reliably. Expendlture LiabilitiC5 ar¢ r¢cognised as cxpcnditure &8 800n as ther¢ 1$ a legal or ¢ons¢ru¢uv¢ obligation ¢ommitting ihc chority to th&1 expenditur4 it is probablr Ihai a transfer of cconomic benefits will required in 5cttlem¢nt and thc gmount of the obligation rAn be mca$ured rcli8bly. ExpenditUT¢ is &c¢ounred for on an aCCfUFAls b&%is and has bcen clllssifia und¢r he&dings ihai a88re8ate all cost r¢leAJ the calcgory. Where cosls ¢annot bc directly attributed to psrti¢ular headin85 thcy hav¢ be Qllocolcd ¢0 &cliviiies on a b&41$ ¢on$i5tent with the use of resources. Orants offered subject io ¢onditions whl¢h have not bcch at th¢ y¢ar end datr are n¢xed a o)mmi¢m¢nt but not accru as ¢xpenditure. The Lh8rity is cxempt from w OTh its charitable tiVitIcS. Fund •e¢owJ¢lD8 Unreglricted fvnds can be used in accOrd¢e with the chorithble objective5 ihe disCrIDn of the tru$eJ. RestTLCted futhds ¢an only bc used for psrticular r¢Jtrict¢d purtrt)5cs wilhin th¢ obje$ of the charity. RcstTL¢tion$ aris¢ when specified by the donor or when fundj are rais¢d for particul rc4trl¢led purposcs. INVESTMENT INCOME 31.3.24 31.3.23 Inv¢stmen( incomc GRANfs PAYABLE 31.3.24 31.3.23 Direct Ghati¢abl¢ expJdituTe The to1 grants paid to institutions duTing the year was 86 follow8.. 31.3.24 31.3.23 Officcr5' Association via KRH Weif8re Fund The StaTS App¢al SSAFA 2,OLK) 1,000 2,000 2,0 1.000 2,000 7.000 7,000 Page 7 continued..
Tkech amln Wll 1 Notts to the Flnaneiil St ¢ontinutd for the Ye¥r Ended 31st Mrth 2024 CRANTS PAYABLE- tontifj#ed Th¢ to1 paid to indiv#lual$ durin8 iheyear w&% 0$ follows.. 31.3.24 31.323 via KRH Welfare Fund SUPPORT COSTS (lovernan¢e osts Man88ement Total Oth¢r r¢souwLs expcndcd 270 Support L))sls, included in the abov¢, are as followj: 31.3.24 Other re5011Tces exwid 31.3.23 Total livi¢ir5 Trustees, remun¢rntion ctc Management fees Acwunton¢y and Icsal fees 556 6.759 270 443 6,577 270 TRUSTEES, REMUNEILITION AND BEIYEFITS No remuneration or oth#r brIt9 W&8 paid to the tru5tc¢g for Ihe yeu end¢d 31$1 Mor¢h 2024 nor for thc yc4r ended J181 March 2023. T•t8, exp•w¢• No expenses wett paid to thc trustees for th¢ yew endrd 3151 March 2024 rKJr for the y¢at cnded 315t MCh 2023. FIXED ASSKT INVESTMENTS Listed Investments MARKET VALUE At 181 April 2023 Additior15 Dispos5 RcvaluatiorL8 945,075 244,334 (209.980) At 31 st March 2024 1038 168 NET BOOK VALUE At 3151 Mah 2024 1038,168 At 31st March 2023 94S,075 There were rm) inves¢1 assets outside th¢ UK. The aFKTrve inv¢sttnents are stated follows.. P8ge 8 LxTrntinued..
The chae5 Bea Wilsott B Note to thè Fi 1st ents- rontinu for the Ytgr Ended 31st M4r¢h 2024 FIXED AFAET INVEsfME]Yrs- eonthu¢d 2024 2023 Historic cost Rva]uatlon 637,568 545,212 1,038,168 945.075 CASH AT BANK 31.3.24 Totsl fvnds 31.3.23 Total fUJS Lloyd# current accounl Evelyn dividend rKc4)unt Bw¢lyn ¢llcnt wKowit 26.101 1206 28,850 23,407 1,206 104 171 CREDITOKS: AMOUNTS FALLING DUE wmiiiy ONE YEAR 31.3.24 31.3.23 AC01 Pe#S RELATED PAJITY DISCLOSURES Thtre were rni related paty trw)8a¢tlonJ for theyear ended 3 I March 2024. Pw9