## ## ## ## |Page|||| |---|---|---|---| |Trustees
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I—| ||||2022|2021| |---|---|---|---|---| |Totalincome|||1,790,645|1,471,855| |Total Expenditure|||1,423,398|1,246,349| |Unrealised/realised||gains and losses on:||| |Revaluation|of Investments||(3,395,717)|3,009,877| |Net income|for the|year|(3,028,470)|3,235,383| |U|N
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activities||||(633,164)||122,642|| |Cash|flows from investin
activities|||||||| |Dividends,
interest
and rents from investments|||||715,274||734,087|| |Purchase of investments|||||(6,286,331)|(39,077,332)||| |Proceeds from sale of investments|||||6,223,300|39,075,332||| |Net|cash generated
in investing
activities||||652,243||732,087|| |Net|increase
in cash 5cash equivalents||||19,079||854,729|| |Cash|and cash equivalents
at the beginning||ofthe year||2,068,406|1,213,677||| |Cash|and cash equivalents
at end ofthe|year|||2,087,485|2,068,406||| |Notes to the cash flow statement||||||||| |1.|Reconciliation
of net movement|in|funds to net||2022||2021|| ||cash flow from operating
activities||||||f|| ||Net movement
in funds||||||3,819,117|| ||||||(3,744,193)|||| ||Losses/(gains)
on Investments||||4,090,240|(3,626,874)||| ||Investment
income||||(715,274)||(734,087)|| ||Investment
aliquot changes||||6|||| ||(Increase)/decrease
in debtors||||(187,742)||532,300|| ||(Decrease)/increase
in creditors||||(97,401)||110,986|| ||Depreciation
charge||||21,200||21,200|| ||Net cash used
in operating
activities||||(633,164)||122,642|| ||Analysis ofcash and cash equivalents||||At 1Jan|Cash|At|31Dec| ||and net debt||||2022|flow||2022| |||||||f||f| ||Cash on short term deposit||||1,777,274|35,503|1,812,777|| ||Cash current account||||33,927|(5,250)||28,677| ||Cash balance
held
in investments||||6,878|495||7,373| ||Cash held by branches||||250,327|(11,669)|238,658|| ||Net cash provided
by operating|activities|||2,068,406|19,079|2,087,485|| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |2022 Donations
and|legacies inc SP|GS|||| |---|---|---|---|---|---| |||Unrestricted|Restricted|Permanent|Total| |||||Endowment|| ||||2022||| |||f|||| |Officers' subscriptions||105,415|||105,415| |Soldiers' subscriptions||152,359|||152,359| |Retired Donations||19,945|||19,945| |Income tax recoverable|(gift aid)|7,406|||7,406| |Donations
and Grants||65,011|||65,011| |Intangible
Income —Wages in Kind
Legacies||136,688
451,031|1,045||137,733
451,031| |||937,855|1,045||938,900| |2021 Donations
and|legacies inc SPGS Comparison||||| |||Unrestricted|Restricted|Permanent|Total| |||||Endowment|| ||||2021||| |||f|||E| |Officers' subscriptions||105,740|||105,740| |Soldiers' subscriptions||155,547|||155,547| |Retired Officers Donations||21,608|||21,608| |Income tax recoverable|(gift aid)|12,436|||12,436| |Donations
and Grants||57,354|||57,354| |Intangible
Income —Wages in Kind||127,848|1,014||128,862| |Legacies||175,827|||175,827| |||656,360|1,014||657,374| ## |||||||Unrestricted|Restricted|Permanent|Total| |---|---|---|---|---|---|---|---|---|---| |||||||||Endowment|| ||||||||2022||| ||||||||f||f| ||Investments|||||536,104|179,170||715,274| |||||||536,104|179,170||715,274| ||2021 Investment
Income Com||||arison||||| |||||||Unrestricted|Restricted|Permanent|Total| |||||||||Endowment|| ||||||||2021||| |||||||f|||f| ||Investments|||||518,069|215,993||734,062| |||||||518,069|215,993||734,062| |4.|2022 Other|||Income|||||| |||||||Unrestricted|Restricted|Permanent|Total| |||||||||Endowment|| ||||||||2022||| |||||||f|||| ||Interest received on short term deposits|||||649|||649| ||Event income|||||2,782|||2,782| ||Merchandise|||income||144|||144| |Christmas|||card income|||773|||773| ||Registration||fees|||3,733|||3,733| |Alanbrooke|||Club|||(955)|||(955)| |||||||7,126|||7,126| ||2021 Other|||Income Com
arison|||||| |||||||Unrestricted|Restricted|Permanent|Total| |||||||||Endowment|| ||||||||2021||| |||||||E|||f| |Interest received on short term deposits||||||25|||25| |Event income||||||1,302|||1,302| |Merchandise||||income||187|||187| |Christmas||card income||||1,409|||1,409| |Registration|||fees|||680|||680| |Alanbrooke|||Club|||716|||716| |||||||4,319|||4,319| ## |2022 Cos|t of Raisin|Fu|nds||||||| |---|---|---|---|---|---|---|---|---|---| ||||||Unrestricted|Restricted||Permanent|Total| |||||||||Endowment|| ||||||||2022||| ||||||f||||f| |Fundraising|costs||||1,178||||1,178| ||||||1,178||||1,178| |2021 Cost|of Raisin|Funds Com||arison|||||| ||||||Unrestricted|Restricted||Permanent|Total| |||||||||Endowment|| ||||||f||||f| |Fundraising|costs||||2,065||||2,065| |Investment|management||Fees||48,234|10,614||12,064|70,912| ||||||50,299|10,614||12,064|72,977| ## |||||||Unrestricted|Restricted|Permanent|Total| |---|---|---|---|---|---|---|---|---|---| |||||||||Endowment|| ||||||||2022||| |Welfare||||||f|f||f| |Welfare
grants
—1,234||||(2021: 1,031)||440,653|183,763||624,416| |individual
cases|||||||||| |Welfare grants to institutions:|||||||||| |Gunner
Magazine||||||5,000|||5,000| |Royal Artillery Sports||||||50,378|||50,378| |Army Benevolent|Fund|||||89,000|||89,000| |Other Grants:|||||||||| |Regiments
and Batteries||||||81,000|||81,000| |Regimental
Welfare/Comradeship||||||29,163|||29,163| |RAM||||||47,200|||47,200| |Betterment
Grants||||||9,800|||9,800| |Awards||||||1,639|||1,639| |General grants||||||3,650|||3,650| |RA Memorials||||||10,891|||10,891| |Events|||||||||| |RA Assembly||||||10,717|||10,717| |NMA||||||3,615|||3,615| |Gunner Sunday||||||1,684|||1,684| |||||||784,390|183,763||968,153| |Support Cost to Charitable||||Activities:|||||| |Wages and salaries||||||97,856|||97,856| |Employers
Pension|Contribution|||||10,324|||10,324| |Employers
Nationals||Insurance||||4,532|||4,532| |Wages and sa laries|in|kind||||136,688|1,045||137,733| |||||||249,400|1,045||250,445| |Insurance||||||2,523|||2,523| |Printing,
stationery|and||advertising|||793|||793| |Office cost (inc. publicity 5||||postage,|IT)|12,147|||12,147| |TRS||||||13,242|||13,242| |Branch travel||||||12,325|||12,325| |Misc||||||2,035|||2,035| |Bank charges||||||623|||623| |Cottage expenses|||||||4,658||4,658| |Depreciation
(Cottages)||||||||21,200|21,200| |Audit and accountancy|||fees|||19,926|||19,926| |Legal and professional||fees||||3,587|||3,587| |Total support costs||||||316,691|5,703|21,200|343,594| |2022 Total Expenditure||||||1,100,991|189,466|21,200|1,311,657| ## |||||||Unrestricted|Restricted|Permanent|Total| |---|---|---|---|---|---|---|---|---|---| |||||||||Endowment|| ||||||||2021||| |Welfare||||||f|||| |Welfare
grants
—1,031||||(2020: 1,256)||325,351|198,194||523,545| |individual
cases|||||||||| |Welfare grants to institutions:|||||||||| |Gunner
Magazine||||||3,840|||3,840| |Royal Artillery Sports||||||51,902|||51,902| |Army Benevolent|Fund|||||79,500|||79,500| |Other Grants:|||||||||| |Regiments
and Batteries||||||84,200|||84,200| |Regimental
Welfare/Comradeship||||||23,024|||23,024| |RAM|||||||||| |Betterment
Grants|||||||||| |Awards||||||1,100|||1,100| |General grants||||||5,675|||5,675| |RA Memorials||||||772|||772| |Events|||||||||| |RA Assembly||||||453|||453| |NMA||||||2,543|||2,543| |NMA Maintenance||||||32,488|||32,488| |GunnerSunday||||||1,674|||1,674| |||||||612,522|198,194||810,716| |Support Cost to Charitable||||Activities:|||||| |Wages and sa laries||||||111,439|||111,439| |Employers
Pension Contribution||||||4,272|||4,272| |Employers
Nationals||Insurance||||6,294|||6,294| |Wages and sa laries|in|kind||||127,848|1,014||128,862| |||||||249,853|1,014||250,867| |Insurance||||||2,163|||2,163| |Printing,
stationery|and||advertising|||1,125|||1,125| |Office cost (inc. publicity||||%postage,|IT)|17,786|||17,786| |TSS||||||6,969|||6,969| |Branch travel||||||3,481|||3,481| |Misc||||||2,770|||2,770| |Training||||||192|||192| |Bank charges||||||779|||779| |Cottage expenses|||||||5,251||5,251| |Depreciation
(Cottages)||||||||21,200|21,200| |Audit and accountancy|||fees|||14,070|||14,070| |Audit under provision||2020||||3,030|||3,030| |Lega
I and professional|||fees|||2,861|||2,861| |Total support costs||||||305,079|6,265|21,200|332,544| |2021Total Expenditure||||||917,601|204,459|21,200|1,143,260| |||||||Page 27|||| ## |The average|number ofpersons employed|by the Fund during the year was:|| |---|---|---|---| |||2022|2021| |||Number|Number| |Office and|administration|4|4| ## ||Unrestricted|Restricted||Permanent|Total| |---|---|---|---|---|---| |||||Endowment|| ||||2022||| |||||E|| |||||Cottage Homes|| |Deemed cost at 31December 2022||||1,081,200|1,081,200| |At 31December 2022||||1,081,200|1,081,200| |Depreciation
at 1January 2022||||169,600|169,600| |Charge for the year||||21,200|21,200| |At 31December 2022||||190,800|190,800| |Net book value at 31December 2022||||890,400|890,400| |Net bool& value at 31December 2021||||911,600|911,600| ## |||Unrestricted|Restricted||Permanent|Total| |---|---|---|---|---|---|---| ||||||Endowment
.|2022| |uoted investments|||f||f|f| |Market value at 1January||26,107,109|5,745,016||6,529,394|38,381,519| |Net additions
at cost||4,275,962|955,162||1,055,207|6,286,331| |Sales proceeds||(4,233,089)|(933,495)||(1,056,716)|(6,223,300)| |Net realised/unrealised|gains|(2,782,181)|(613,536)||(694,523)|(4,090,240)| |Aliquot Changes||(6)||||(6)| |Cash Commitments||341|75||84|500| |Market value at 31December||23,368,136|5,153,222||5,833,446|34,354,804| |Historical
value at 31December||23,068,341|5,087,108||5,758,607|33,914,056| |Investment
Cash Breakdown||||||| |Investments||23,363,122|5,152,115||5,832,194|34,347,431| |Bank Settled Account||3,800|839||949|5,588| |Bank Unsettled
Account||1,214|268||303|1,785| |||23,368,136|5,153,222||5,833,446|34,354,804| |8b.RACF||||||| |||Unrestricted|Restricted||Permanent|Total| ||||||Endowment|2022| |uoted investments||f|||f|f| |Market value at 1January||24,924,958|5,745,016||6,529,394|37,199,368| |Net additions
at cost||4,079,782|954,570||1,054,537|6,088,889| |Sales proceeds||(4,041,411)|(933,495)||(1,056,716)|(6,031,622)| |Net realised/unrealised|gains|(2,653,640)|(612,944)||(693,853)|(3,960,437)| |Aliquot Changes||(6)||||(6)| |Cash Commitments||325|75||84|484| |Market value at 31December||22,310,008|5,153,222||5,833,446|33,296,676| |Historical
value at 31|December|22,023,788|5,087,108||5,758,607|32,869,503| |Investment
Cash Breakdown||||||| |Investments||22,305,221|5,152,115||5,832,194|33,289,530| |Banl& Settled Account||3,628||839|949|5,416| |Bank Unsettled
Account||1,159||268|303|1,730| |||22,310,008|5,153,222||5,833,446|33,296,676| |||||f|f|| |---|---|---|---|---|---|---| |||||Group|RACF|| |BLKChar UK EQ Fund A lnc (33.05%)||||11,353,004|11,003,331|| |BlackRock Dev Mkt Sust Equity|(28.22%)|||9,694,362|9,395,776|| |Blacl&Rocl& Char UK Bond Fund|A Inc (13.71%)|||4,709,893|4,559,013|| |BFM-BLK Emerging
Markets (10.90%)||||3,742,801|3,627,523|| |TACT OPP FD X ACC (5.49%)||||1,884,187|1,826,154|| |fthe holdings
listed are in collective investment|||vehicles as opposed to single securities.|||| |2021 Fixed Asset Investments||||||| |~8c. Grou||||||| |||Unrestricted||Restricted|Permanent|Total| ||||||Endowment|2021| |uoted investments|||f|f|f|| |Market value at 1January|||23,671,647|5,209,079|5,920,284|34,801,010| |Net additions
at cost|||26,580,397|5,849,166|6,647,763|39,077,326| |Sales proceeds||(26,579,041)||(5,848,867)|(6,647,424)|(39,075,332)| |Net realised/unrealised
gains|||2,467,000|542,877|616,997|3,626,874| |Cash Commitments|||(32,894)|(7,239)|(8,226)|(48,359)| |Market value at 31December|||26,107,109|5,745,016|6,529,394|38,381,519| |Historical
value at 31December|||23,674,557|5,209,719|5,921,012|34,805,288| |Investment
Cash Breakdown||||||| |Investments|||26,102,432|5,743,986|6,528,224|38,374,642| |Bank Settled Account|||3,212|707|803|4,722| |Banl& Unsettled
Account|||1,465|323|367|2,155| ||||26,107,109|5,745,016|6,529,394|38,381,519| |8d. RACF||||||| |||Unrest:ricted||Restricted|Permanent|Total| ||||||Endowment|2021| ||||f|f|f|f| |Market value at 1January|||22,599,776|5,209,079|5,920,284|33,729,139| |Net additions
at cost|||25,376,816|5,849,166|6,647,763|37,873,745| |Sales proceeds||(25,375,521)||(5,848,867)|(6,647,424)|(37,871,812)| |Net realised/unrealised
gains|||2,355,292|542,877|616,997|3,515,166| |Cash Commitments|||(31,405)|(7,239)|(8,226)|(46,870)| |Market value at 31December|||24,924,958|5,745,016|6,529,394|37,199,368| |Historical value at 31December||22,602,554||5,209,719|5,921,012|33,733,285| |Investment|Investment|Cash|Cash|Breakdown|Breakdown||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |Investments||||||||24,920,492|5,743,986|6,528,224|37,192,702| |Bank Settled||Account||||||3,067|707|803|4,577| |Bank Unsettled|||Account|||||1,399|323|367|2,089| |||||||||24,924,958|5,745,016|6,529,394|37,199,368| |9.|Debtors||||||||||| |||||||||Total|Total|Total|Total| |||||||||2022|2021|2022|2021| ||||||||||Group
f|f|RACF
f| ||Royal Artillery||Association|||||||28,778|34,296| ||Income tax|repayments||||||2,696|2,332|2,668|2 333| ||Accrued Service|||Giving Income||||28,803|26,226|25,435|22,835| ||Sundry
Debtors||||||||2,500||2,500| ||Legacies Receivable|||||||354,524|167,223|354,524|91,000| |||||||||386,023|198,281|411,405|152,964| |10. Current Asset||||Investments|||||||| |||||||||Total|Total|Total|Total| |||||||||2022|2021|2022|2021| |||||||||f|Group||RACF
f| ||Short term|deposits|||(incl investment|||1,812,777|1,777,279|1,218,593|1,178,541| ||balance)||||||||||| |11.Creditors|||||||||||| |||||||||Total|Total|Total|Tot.al| |||||||||2022|2021|2022|2021| ||||||||||Group
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f| ||Amounts
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I-| THE ROYALARTILLERY CHARITABLE FUND Page 40