| Referenceandadministrativeinformation | 1 |
|---|---|
| Trustees'report | 3 |
| Independentauditor'sreport | 10 |
| Financialstatements | |
| Statementoffinancialactivities | 14 |
| Balancesheet | 15 |
| Statementofcashflows | 16 |
| Principalaccountingpolicies | 17 |
| Notestothefinancialstatements | 20 |
| ClerktotheTrustees | ColonelSDRowland-Jones |
|---|---|
| Telephone | 01722501413 |
| QMRT@hotmail.co.uk | |
| Registeredoffice | 2SovereignClose |
| Quidhampton | |
| Salisbury | |
| SP29ES | |
| Charityregistrationnumber | 211715 |
| Auditor | BuzzacottLLP |
| 130WoodStreet | |
| London | |
| EC2V6DL | |
| Bankers | CAFBankLtd |
| 25KingsHillAvenue | |
| KingsHill | |
| WestMailing | |
| Kent | |
| ME194JQ | |
| Investmentmanagers | CazenoveCapitalManagementLimited |
| 1LondonWallPlace | |
| London | |
| EC2Y5JA | |
| Solicitors | WilsonsSolicitors |
| AlexandraHouse | |
| StJohn'sStreet | |
| Salisbury | |
| SP12SP |
13 December 2022
| Endowment | Unrestricted | Total |
Endowment | Unrestricted | Total | ||
|---|---|---|---|---|---|---|---|
| funds | funds | 2022 | funds | funds | 2021 | ||
| Notes | £ |
£ | £ | £ | £ | £ | |
| Incomeandendowments | |||||||
| from: | |||||||
| Investments | 1 | 491,524 | 491,524 | 371,439 | 371,439 | ||
| Totalincome | 491,524 | 491,524 | 371,439 | 371,439 | |||
| Expenditureon: | |||||||
| Raisingfunds | |||||||
| .Investmentmanagement | |||||||
| costs | 2 | 18,036 |
18,036 | 49,571 | 49,571 | ||
| Charitableactivities | 3 | 509,027 | 509,027 | 401,109 | 401,109 | ||
| Totalexpenditure | 18,036 | 509,027 | 527,063 | 49,571 | 401,109 | 450,680 | |
| Netexpenditurebefore | |||||||
| investmentgains | |||||||
| 6 | (18,036) |
(17,503) | (35,539) | (49,571) | (29,670) | (79,241) | |
| Netgainsoninvestments | |||||||
| 9 | 607,859 |
607,859 | 2,026,377 | - | 2,026,377 | ||
| Netincome | |||||||
| (expenditure)andnet | |||||||
| movementinfunds | 589,823 | (17,503) | 572,320 | 1,976,806 | (29,670) | 1,947,136 | |
| Reconciliationoffunds: | |||||||
| Fundbalancesbrought | |||||||
| forwardat1April2021 | 14,382,817 | 71,080 | 14,453,897 | 12,406,011 | 100,750 | 12,506,761 | |
| Fundbalancescarried | |||||||
| forward | |||||||
| at31March2022 | 14,972,640 | 53,577 | 15,026,217 | 14,382,817 | 71,080 | 14,453,897 |
| 2022 | 2022 | 2021 | 2021 | ||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Fixedassets | |||||
| Investments | 9 | 14,980,770 | 14,372,912 | ||
| Currentassets | |||||
| Cashatbankandinhand | 51,597 | 87,481 | |||
| Totalcurrentassets | 51,597 | 87,481 | |||
| Creditors:amountsfallingdue | |||||
| withinoneyear | 10 | (6,150) | (6,496) | ||
| Netcurrentassets | 45,447 | 80,985 | |||
| Totalnetassets | 15,026,217 | 14,453,897 | |||
| Thefundsofthecharity: | |||||
| Endowmentfunds | 12 | 14,972,640 | 14,382,817 | ||
| Unrestrictedfunds | |||||
| Generalfund | 53,577 | 71,080 | |||
| Totalcharityfunds | 15,026,217 | 14,453,897 |
| 2022 | 2021 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Cashflowsfromoperatingactivities: | |||
| Netcashusedinoperatingactivities | A | (504,672) | (443,026) |
| Cashflowsfrominvestingactivities: | |||
| Dividendsandinterestfrominvestments | 491,522 | 371,439 | |
| Proceedsfromthedisposalofinvestments | - | 18,653,567 | |
| Purchaseofinvestments | (40,313) | (18,606,281) | |
| Netcashprovidedbyinvestingactivities | 451,209 | 418,725 | |
| Changeincashandcashequivalentsintheyear | (53,463) | (24,301) | |
| Cashandcashequivalentsat1April2021 | B | 105,060 | 129,361 |
| Cashandcashequivalentsat31March2022 | B | 51,597 | 105,060 |
| Notestothestatementofcashflowsfortheyearto31March | Notestothestatementofcashflowsfortheyearto31March | 2022 | ||
|---|---|---|---|---|
| A | Reconciliationofnetmovementinfundstonetcashusedinoperatingactivities | |||
| 2022 | 2021 | |||
| £ | £ | |||
| Netmovementinfunds(asperthestatementoffinancialactivities) | 572,320 |
1,947,135 | ||
| Adjustmentsfor: | ||||
| (Gains)oninvestments | (585,124) | (2,026,377) | ||
| Dividendsandinterestfrominvestments | (491,522) | (371,439) | ||
| Decreaseindebtors | — | 7,411 | ||
| Decreaseincreditors | (346) | 244 | ||
| Netcashusedinoperatingactivities | (504,672) | (443,026) | ||
| B | Analysisofcashandcashequivalentsand | movementinnetdebt | ||
| 2021 | Cashflows | 2022 | ||
| £ | £ | £ | ||
| Cashatbankandinhand | 87,481 | (35,884) | 51,597 | |
| Cashheldbyinvestmentmanagers | 17,579 | (17,579) | - | |
| Totalcashandcashequivalents | 105,060 | (53,463) | 51,597 |
| Incomefrominvestments | ||
|---|---|---|
| Unrestricted | Unrestricted | |
| andtotal | andtotal | |
| funds | funds | |
| 2022 | 2021 | |
| £ | £ | |
| Incomefromlistedinvestments | 491,524 | 371,439 |
| 491,524 | 371,439 |
| Expenditureonraisingfunds | ||
|---|---|---|
| Endowment | Endowment | |
| andtotal | andtotal | |
| funds | funds | |
| 2022 | 2021 | |
£ |
£ |
|
| Investmentmanagercosts | 18,036 | 49,571 |
| Unrestricted | Unrestricted | |||||
|---|---|---|---|---|---|---|
| Grants | Support | andtotal | Grants | Support | andtotal | |
| payable | costs | funds | payable | costs | funds | |
| (note4) | (note5) | 2022 | (note4) | (note5) | 2021 | |
| £ | £ | £ | £ | £ | £ | |
| Grantmaking | ||||||
| activities | 477,100 | 31,927 | 509,027 | 370,000 | 31,109 | 401,109 |
| Grantspayable | ||
|---|---|---|
| Unrestricted | Unrestricted | |
| andtotal | andtotal | |
| funds | funds | |
| 2022 | 2021 | |
£ |
£ |
|
| RoyalBritishLegionIndustries—routineexpenditureandreliefwork | 25,000 | 15,000 |
| BroughtonHouse—routineexpenditureandreliefwork | 15,000 | 20,000 |
| CombatStress—insupportoftheCommunityMentalHealthProgramme | 30,000 | |
| foreligiblebeneficiaries | 25,000 | |
| ErskineHospital—routineexpenditureandreliefwork | 30,000 | 25,000 |
| PoppyFactory—Insupportofthe'GetYouBacktoWork'programmefor | ||
| eligiblebeneficiaries | 30,000 | 20,000 |
| Stoll(previouslySirOswaldStollFoundation)—routineexpenditureand | ||
| reliefwork | 30,500 | 30,000 |
| BlesmaTheLimblessVeterans—insupportofthe'MakingGenerationR' | ||
| programme | 25,000 | 15,000 |
| Defence MedicalWelfareService—routineexpenditureandreliefwork | 25,000 | 20,000 |
| The'NotForgotten'Association—routineexpenditureandreliefwork | 10,000 | 10,000 |
| RoyalNavalBenevolentTrust—routineexpenditureandreliefwork | 20,000 | 10,000 |
| VeteransAid—Insupportofeligiblebeneficiaries | 25,000 | 25,000 |
| BritishEx-ServicesWheelchairSportsAssociation—routineexpenditure | 10,000 | 12,000 |
| RoyalCommonwealthEx-ServicesLeague—routineexpenditureand | ||
| reliefworkforeligiblebeneficiaries | 20,000 | 15,000 |
| Soldiers,Sailors,AirmenandFamiliesAssociation—routineexpenditure | ||
| andreliefwork | 25,000 | 15,000 |
| CaninePartners—insupportofaspecificcaninepartnership | 8,100 | 10,000 |
| GurkhaWelfareTrust—welfaresupporttoeligiblepensionersandin | ||
| supportoftheirtwocarehomesinNepal | 14,000 | 11,000 |
| ScottishVeterans'Residences—repairandmaintenancework | 5,000 | 6,000 |
| Alabare—routineexpenditureandreliefwork | 10,000 | 20,000 |
| BournemouthWarMemorialHomes—insupportofcapitalplanstorebuild | ||
| thecommonroom | 8,000 | |
| ChaseleyTrust—routineexpenditureandreliefwork | 25,000 | 8,000 |
| Launchpad—routineexpenditureandreliefwork | 10,000 | 10,000 |
| RoyalNavyandRoyalMarineChildren'sFund—routineexpenditureand | ||
| reliefwork | 5,000 | 5,000 |
| SpinalInjuriesAssociation—routineexpenditureandreliefwork | 7,500 | 7,500 |
| NationalGulfVeteransandFamiliesAssociation—routineexpenditureand | ||
| reliefwork | 10,000 | 7,500 |
| QueenAlexandraHospitalHome—routineexpenditureandreliefwork | 4,000 | 4,000 |
| VeteransOutreachSupport—routineexpenditureandreliefwork | 8,000 | 6,000 |
| WilliamSimpson'sHome,Stirling—routineexpenditureandreliefworkin | ||
| supportofeligiblebeneficiaries | 5,000 | 5,000 |
| RAFAssociation | 20,000 | |
| RMAssociation | 5,000 | |
| RoyalAlfredSeafarers | 15,000 | |
| KartForce—routineexpenditureandreliefwork | 5,000 | 5,000 |
| Totalgrantspayabletoinstitutions | 477,100 | 370,000 |
| 5 | Supportcosts | ||
|---|---|---|---|
| Unrestricted | Unrestricted | ||
| andtotal | andtotal | ||
| funds | funds | ||
| 2022 | 2021 | ||
£ |
£ |
||
| Staffcosts(note7) | 23,886 | 24,677 | |
| Governancecosts | 6,859 | 5,984 | |
| Othercosts | 1,182 | 448 | |
| 31,927 | 31,109 | ||
| 6 | Netexpenditurefortheyearbeforenetinvestmentgains | ||
| Thisisstatedaftercharging: | |||
| 2022 | 2021 | ||
£ |
£ |
||
| Auditor'sremuneration | |||
| .Auditfees | 6,150 | 5,984 | |
| 7 | Staffcostsandremunerationofkeymanagementpersonnel | ||
| 2022 | 2021 | ||
£ |
£ |
||
| Salariesandwages | 22,723 | 23,527 | |
| Pensioncontributions | 1,163 | 1,150 | |
| 23,886 | 24,677 |
| Investments | ||
|---|---|---|
| 2022 | 2021 | |
£ |
£ |
|
| Marketvalueat1April2021 | 14,355,333 | 12,376,241 |
| Additionsatcost | 17,578 | 18,606,281 |
| Disposalsatopeningmarketvalue | — | (16,643,168) |
| Unrealisedinvestmentgains | 607,859 | 15,979 |
| Marketvalueat31March2022 | 14,980,770 | 14,355,333 |
| Cashheldbyinvestmentmanagersforre-investment | 17,579 | |
| 14,980,770 | 14,372,912 | |
| Historicalcostofinvestmentsat31March2022 | 14,445,538 | 14,362,014 |
| Holdingat31March2022 | ||
|---|---|---|
| CharityMulti-AssetFund-Dis | 87.07 | 13,044,042 |
| CharityMulti-AssetFund-Acc | 12.93 | 1,936,726 |
| Holdingat31March2021 | ||
| CharityMulti-AssetFund-Dis | 87.48 | 12,557,664 |
| CharityMulti-AssetFund-Acc | 12.52 | 1,797,669 |
| 2022 | 2021 | |
|---|---|---|
£ |
£ |
|
| Accruals | 6,150 | 5,970 |
| Taxationandsocialsecurity | 526 | |
| 6,150 | 6,496 |
| Amount | ||
|---|---|---|
| 2022 | ||
| Trustee | Voluntaryorganisation | |
| MajorJamesJMacnamara | DefenceMedicalWelfareService | 25,000 |
| AirCommodoreBCooper | DefenceMedicalWelfareService | 25,000 |
| Amount | ||
| 2021 | ||
| Trustee | Voluntaryorganisation | |
| LieutenantCommanderH.BettsRN | BlesmaTheLimblessVeterans | 15,000 |
| MrEdwardTytherleigh | Stoll | 30,000 |
| MajorJamesJMacnamara | DefenceMedicalWelfareService | 20,000 |
| Endowmentfunds | ||||
|---|---|---|---|---|
| At1 | Expenditure, | At31 | ||
| April | gainsand | March | ||
| 2021 | Income | losses | 2022 | |
| £ | £ | £ | £ | |
| Endowmentfunds | 14,382,817 | 589,823 | 14,972,640 | |
| At1 | Expenditure, | At31 | ||
| April | gainsand | March | ||
| 2020 | Income | losses | 2021 | |
| £ | £ | £ | £ | |
| Endowmentfunds | 12,406,011 | 1,976,806 | 14,382,817 |
| Analysisofnetassetsbetweenfunds | |||
|---|---|---|---|
| Unrestricted | Total | ||
| Endowment | general | funds | |
| funds | fund | 2022 | |
| £ | £ | £ | |
| Fundbalancesat31March2022arerepresentedby: | |||
| Investments | 14,980,770 | - | 14,980,770 |
| Currentassets | (8,130) | 59,727 | 51,597 |
| Creditors:amountsfallingwithinoneyear | — | (6,150) | (6,150) |
| Totalnetassets | 14,972,640 | 53,577 | 15,026,217 |
| Unrestricted | Total | ||
|---|---|---|---|
| Endowment | general | funds | |
| funds | fund | 2021 | |
| £ | £ | £ | |
| Fundbalancesat31March2021arerepresentedby: | |||
| Investments | 14,372,912 | - | 14,372,912 |
| Currentassets | 9,905 | 77,576 | 87,481 |
| Creditors:amountsfallingwithinoneyear | — | (6,496) | (6,496) |
| Totalnetassets | 14,382,817 | 71,080 | 14,453,897 |
| Thetotalunrealisedgainsasat31March2022constitutemovementsonrevaluationand | |||
| areasfollows: | |||
| 2022 | 2021 | ||
£ |
£ |
||
| Unrealisedgainsincludedabove: | |||
| Oninvestments | 535,233 | (6,682) | |
| Totalunrealisedgainsat31March2022 | 535,233 | (6,682) | |
| Reconciliationofmovementsinunrealised(losses)gains | |||
| Unrealisedgainsat1April2021 | (6,682) | (636,171) | |
| Movementsinrespectofdisposalsintheyear | 613,510 | ||
| Book costadjustment | (65,945) | ||
| Netgains(losses)arisingonrevaluationintheyear | 607,860 | 15,979 | |
| Totalunrealisedgainsat31March2022 | 535,233 | (6,682) |