REGISTERED CHARITY NUMBER: 200524 Re ort of tbe Trusteeg #nd Financigl Statements for the Year Ended 31st March 202S for The Charles Ben amin Wilson Be ue$t WTheeler & Co Ltd Chartered Accountants The Shrubbery 14 Church Street ]1hh Ha]npshire RG28 7AB
he Charles Ben Wilson Be uest Con nts of the Finaneial Statements for the Year End d 31st March 2025 Page Report of the Trustees Independent Examiner's Report Statement of Financial Activi¢les Balance Shoet Notes to th¢ Financial Statemcnts
The Ch&rles Ben amin Wlls uest Re ort of thc Trustees for the Year Ended 31$ rch 2025 The trustees present their report with the financial stat¢ments of the charity for the year ended 31st March 2025. The trust¢¢s have adopt¢d the provisions of ALcouRiing and Reporting by Charities.. Statement of Recommended Practice appIlble to charities preparing their ac¢ounts in accordancc with th¢ Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 {effe¢tive l January 2019). OWECTIVES AND ACTIVITIES Objective5 and Aims The Charles Benjamii) Wilson Bequest at Home Headquarters. The King's Royal Hussars, Peninsula Barracks, Romsey Road, Winchest¢r, Hampshire S023 81-P. is registered with the Charity Commission (No 200524) and regulated by a Scheme of th¢ Charity Commission of 4th October 1999. I l) The object of the Charity is the relief of persons who are- in need, hardship or distress. and in the following order of priority fornier officers of the regiment gr of the fomer regiments, or their dependents- member5 or fomier members of the regiment or ofthe forimer regiments, or their dependents. (2) The trustees may relieve persons in need by.. making grants or loans of money to them,. or b providing or paying for good5, servi¢es or facilities for them. or making grants of money to other persons or bodies who provide goods, s¢rvices or facilities to those in need. Public benefit The trustees believe that the charity me¢ts the requirtment of public benefit by virtue of lis activitics providing financial as5istsnce to arnied forces personnel who are in financial need and by grani payments to charities and organisations that sllpport the welfare of armed forces personnel and their dependents. ACHIEVEMENT AND PERFORMANCE Review of CharKtable Aetivities The charity worked in parthership with The KiDg's Royal Hussars Regimental Trust Welfare Fund, assisting with grants for 4 cases totalling £18,-361. lllvestment Performance The income of the fund is obtained rnainly from dividends on investments. The Inveslrnent Committee Of Trustees monitors the perfomanee of the portftslio in conjunction with the Investsnent Advisor to ensure the best Pts5sible return is obtained consistent with the objects of the Charity. For the year ended 31 st March 2025 the value of ibe portfolio had increased by 20/0. FIIYAf4CIAL REVIEW Inytstrnent policy and objeclivLs The trustees are aware of their general power of investment as laid down En the Charitie5 Act 2006 and the specific power of Delegation of Investment Management as laid down in paragraph 22 of the Charity CommissEoners Scheme, dated 4th October 1999, that gov¢ms the C B Wilson B¢quest. They have delegated the investsnent mthageinent to Mr Nicholas Scott of Smith Williamson Investsnent ManagemenL the nominee holder ot the iJivestmen15 and ihe Investment Advisor. The trustees have established an Investment Committee of the Chairnian. Captain E St J Hall and the Secretary who, with advice from the Investment Advisor. review ihe porrfolio and make investment decisions on behalf of the trusiees. Changes to the portfolio and the reasons for the changes are r¢poned to the full board at the AGM by the Investment Advisor. The Invcstment Committee invests in markets where financial services are closely regulated and Compensation heM¢S are in plac¢. Thc Committce maintains a 511itably div¢r5¢ Portfolio and is particularly wary of making speculative foTtns of investment. Page I
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The Charles Ben min Wilson Be lle orl nf the Tru ,nded 315t March 2025 STRUCTURE, GOVERNANCE Af4D MANAGEMENT Governin¥ Dvcument The charity is Controlled by its goyeming document, a scheme dated 4 October 1999, and constitutes an unincoryorated charity. Connected Parties The charity is connected with the King's Royal Husws Officers, ThIsL The King's Royal Hussars Regimental Trust, and the King's Royal Hussars Mubeurn in Winchester Trust (ail of them registered charities) by virtue of Some common trustees. The independence of the charity is ensur by there being a majority in number of trustees who see only as trustees of th¢ CB Wilson Bequest. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 200524 Principal address Hom¢ Headquarters The King's Royal Hussars Peninsula Barracks Winchester Hampshire S023 8TP Trustees Chairman Captain S R B Merton Members Brigadier J N N Orr I,ieuienant Colonel D Welford Colonel G H R Tilney MBE Professor D G R Evans MB BS MD FEiCP Major P J Lawson Captain E Si J Hall Captain R D Barclay Captain W H Bancroft lex offjcio) (ex officio} Seeretary Lieutenant Colonel G Wells Independent Examlner Kevin Wheeler FCA Whe¢ler & Co Ltd Chartered Ac¢ountant5 The Shrubbery 14 Church Stre¢t Whitchurch Hampshire RG28 7AB Bankers Lloyds Bank plc Cox's and King's Branch PO Box 1000 BXI ILT Page 2
The Chkrles Ben min Wilson Be ue$t Re rt of fhe Trustee$ for the Year Ended 31st March 202S REFEREP4CE AND ADMINISTRATIVE DETAILS Ini'estment advisers Evelyn Parthers Investment Management 45 Gresham Street London EC2V 7BG Approved by order of the b d of tNstees o and signed on its behalf by.. Captain S R B Merton - Trustee Page 3
de endent Examintr's Re ort to the Trustees or The Charles Ben min Wilson Be uest IndepÈDdent examiner's report to the trustees of The Charl¢& Benjamin Wilson Bequest I report to the charity trustees on my examination of the accounts (Trf The Charles Benjamin Wilson Bequest (the Trnst) for the year ended 3 1st March 2025. Responslbilitie5 and basis of report As the charity trnstees of the Irust you are responsible for the preparalion of the accounts in accordance wirh the requirements of the Charities Act 2011 I'the Act.). I report in respect of my examination of the Tnjst's accounts Carried out under Section 145 of the Act and in carrying out my ¢xamination I have followed all applicable Direciions giv¢n by the Charity Commission under Section 145(51(bl of the Act. Independent examiner's stateffteNt I have completed my examinatiot). I confimi that no mat¢riV41 matters have tom¢ to my attention in Connection with the examination giving m¢ cause to believ¢ that in any mateTial respect.. counting records were not kept in Tesp¢ot of the Trust requir¢d by Section 130 of the Act; or the aecounts do not accord with Those records. or the CoUnts do not comply with the applicable requirerrtents ¢on¢erning the forni and content of a¢¢ounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter ¢onsidered as part of an independent examination. I have no concerns and hav¢ come across no other matteTS in connection with the ¢xamination to which attention should be dram in this report in order lo ¢nable a proper understanding of the accounts to be reached. Kevin Wheeler FCA Wheeler & Co Lid Chartered Ac¢oun&int8 The Shrnbbery 14 Church Street Whitchurch Hampshire RG28 7AB Page 4
The Charles Ben amin Wi150n Be uest Staternent of Financi#l Activities for the Year EMdtd 31$1 March 2025 31.3.25 Unrestricted fund 31.3.24 Totsl funds Notes INCOME AND ENDOWMENTS FROM Investment income 27.649 EXPENDITURE ON Charitable activities Direct charitable expenditure 18,361 23,129 Other Total 26.781 Net gains on investments 24,203 NET INCOME 24,302 46,078 RECONCILIATION OF FUNDS Totsl funds broUt fonvard 1,092,430 1,046,352 TOTAL FUL¥DS CARRIED FORWARD 1 116,732 1.092.430 The notes fomi part of thes¢ financial statements Page 5
The Charles B¢n #MIM Wilson B¢ est Balance Sheet 31st March 2025 31.3.25 UnrestTSCted fund 31.3.24 Total funds Notes FIXED ASSETS Investmenis 1,063.765 1,038,168 CURRENT ASSETS Cash at bank 55.227 56,157 CREDITORS Amounts falling dll¢ within one year (2,2601 {1.895) NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES 16,732 ,092,430 NET ASSETS 1 116 732 1092,430 FUNDS Unrestricted ndS 1 116 732 1092 430 TOTAL FUNDS 1 116732 1,092 430 The financial statements We approved by the Board of Trustees and auihorised for issue on ../J...o.yE&4A*...2P.2£.. and were signed on its behalf by.. S R B Merton - Trustee The notes fomi part of these financial Statements Page 6
The Ch&rlts Ben amin Wi150n Be uest Notts to the Finanetal Stutemtnt for the Year Ended 31st March 2025 ACCOUNTU+IG POLICIES Basis of preparing the financial statements The fanCIal stateinents of the Lharity. which is a public benefit entiry under FRS 102, have been prepared in accordwic¢ with the Chariries SORP IFRS 102) 'Accounting and R¢porting by Charities.. Statement of Recommended Practice applicable to charilies prepwing their accounts in accordance with the Financial Reporting Standard applicable in the UK Republic of Ireland IFRS 1021 (effective l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and RepL)blic of Ireland, and the Charitie5 Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments w,hi¢h we included at market value, as modified by the revaluation of certain assets. Income All income is recognised in ihe Stat¢inent of Financial AbliVlti¢s gnce the charity has entitlernent to the funds. it s probable that the income will be rec¢iv¢d and the atnount can b¢ measured reliably. Expenditure Liabilities are rttognised as expenditure as soon as there is a legal or constrnctive obligation committing the charity to that expenditure, it is probable that a tr2nsler of economic benefits will be required in seiilement and the atnounl of the obligation can be measuT¢d reliably. Expenditure is accounted for on an Accruals basis and has been elassified under headings that aregate all cost rclat¢d to the caiegory. Where costs cannot be directly attributed to particular headings they have been allocated to activitie5 on a basis consistent with the use of resources. Grants offered subject to conditions which hav¢ not been met at the year end date are noted as a ¢ommith)ent E>ut nol accrued as expenditure. Taxation The ¢harity is exernpt from tax on its charitable activities. Fund accounting Unreslricted ndS can b¢ used in accordanc¢ with the charitable objectives at the diretion of the trustees. Restricted funds Can only be llsed for particular restricled purposes within the objects of th¢ charity. Restriction5 arise when specified by the donor or when funds are raised for particular restricted purposes. IIYVESTMENT INCOME 31.3.25 31.3.24 Investment income 27,649 GRANTS PAY ABLE 31.3.25 31.3.24 Direct charitsble expenditure 23,129 The total grltS paid to institutions during th¢ ye8r was as follows.. 31.3.25 31.3.24 Officer5. Association via KRH Welfare Fund The Stars App¢al SSAFA 2,000 1,000 2,000 Page 7 ¢ontinued...
The Charles Ben amin Wilson B uest Note5 to th¢ Financial Statemenls- continued for the Year Elided 31st March 2025 GRANTS PAY ABLE- continued The total grants paid to individuals during th¢ year was as follows= 3 1.3.25 3 1.3.24 via KRH Welfare Fund 18,361 SUPPORT COSTS Governance costs Management Finance Tolals Other resources expended 480 8.420 Support Costs, in¢luded in the above. are as follows.. 31.i.25 Oth¢r resources expended 31.3.24 Total activities TrusiLLS' leTnuiieration eic Managem¢nt fees Trustee meeting expenses Bank charges Accountancy and legal f¢es 556 6,759 7.682 254 480 270 8,420 TRUSTEES, REMUNEILITION AND BENEFITS No remuneration or other benefits was paid to the trnstees for the year ended 3 1st March 2025 nor for the year ¢nded 31 si March 2024. Tru5t¢es' expeN5e5 No exptnses were paid to th¢ trustees for the year ended 3 1st Mah 2025 nor for the year ¢nded 3 1st March 2024. FIXED ASSET INVESTMENTS Listed invcstments MARKET VALUE At 1st April 2024 Additions Disp05als Revaluations 1,038,168 101,328 (99,934} At 3 1st March 2025 1063 765 NET BOOK VALUE At 3 1st March 2025 1063,765 At 315t March 2024 1038 168 Ther¢ were no investment assets outside the UK. Page 8 continued...
The Charles Ikn amin Wilson B uest Note5 to the Financial Statement5- eontinued for the Year Elided 31st March 2025 FIXED ASSET INVESTMENTS- eontinued The above investments are stated as follows.. 2025 2024 Historic cost Revaluation 645,260 418,505 637,568 400,000 1063 765 1038 168 CASH AT BANK 31.3.25 Total funds 31.3.24 Total funds Llovd5 iunent account EvelJT] dividend account Evelyn client account 34,413 766 26,101 1,206 Total CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.25 31.324 Accru¢d expense$ RELATED PARTY DISCLOSURES There were no related party tran5a¢tioDs for the year ended 3 1st March 2025. Page 9