Queen Mary's Roehampton Trust Annual Report and Financial ststements 31 Marth 2024 Charfty R8&*stratbJn N￿nbIr 211715 Contsnts R8ports Reference and adnwnislralive infom)8tion Trustees, rep&t Ind8p8nd8nl auditor's rew)rt Financial statements Slatement of financial actimties 15 Balanco sheèt 16 Statement of c&8h Ilows 17 Principal accounting poliaes 18 Notes lo the finandal statements 21 Queen Mary's Roehampton Trust Rgference and admlnlstratlve infomiallon Tru8tws Alr Marshal Sir Bary Thomton KCB RAF (Chairman) Colonel P B G Cummillgs (WI￿ Chairman) Mr J J Macnamara CStJ TD JP VR DL MA FCA (Honorary Treasurer) Lieutenant Commander H 8etts RN Colonel R Bhabutta OBE URAMC Mrs A Child r CornrrKJdore B Ccoper CBE Mr C H G￿en CBE Mr B Marshall Ms M Thompson-schwab Ueulenanl Cok)nel l A Vere Nlcdl MBE lunlll 30 Nov¢mber 2023) Ms A Wyman lunfjl 2 June 2023) M8 V Littlechlld (from 7 June 2024) Mr l McGregor (from 7 June 2024) Ms C Marsh lfrom 7 Juno 20241 Grants Sub Colonel P B G Cumming5 ex officio MT C H Green CBE Ms M Thompson-schwab Air Ma￿ha1 Sir Bary Thorftton KCB RAF Lieutenant Colonel l A Vefft Niwll MBE (Unt￿ 30 November 20231 aueen Marfs Roehampton Trnst Reference and admini8tralive intomiation Cler1( to the Trugtee8 Colonel S D RovAand-J¢nes T•l•phon• Email 07891484508 MRT hotmail. o.uk R•gister•d offic• 2 Sovereign Clr)se Quidharnplon Salisbury SP2 9ES Charity r0gistTrtion numb•r 211715 Auditor Charlton Baker (Brtsld) Lt(I Eden Business Park, 61 Macrae RD•S. 1st Floor, Ham Green, Br4Stol, BS20 ODD Bankers CAF Bank Ltd 25 Kings Hill Aven Kings Hill West Malling Kent ME194JQ Investment managers C8zenove Capital Management Limited 1 London Wall Place London EC2Y Sollckars Wilsons SrAiolors Alexandra House Sl John's Street Salisbury SP12SP Queen Mary's Roehampton TrL￿1 Trusts8s' report Year to 31 March 2024 The Trustees present Ihls amual report and financial statem8nts of Queen Mary's Roehampton Tru81 for the year ended 31 March 2024. The firtancial stal8m&nts hav8 b8en prepared in accordance bmth the accounting pollry8S Set out on pages 18 to 20 of the attached linancial statements and comply with the applicable laws and Acwunb'ng and Reporting by Charitles.. Slatemenl ol R8commended Pra¢ts'c• applicablè to charities preparing their arLounts in 8￿rdance with tho FinancAal Re￿1*ng Standard ap￿IcaLle in the United Kingdom and Republic of Irdand IFRS 102). GOVERNANCE. STRUCTVRE AND MANAGEMENT Constitutlon The condud of the Trust is govemed by an Ord8r of Charity Commis&oners dated 10 April 1972. which superseded eartier Orders. as varied later by the Schemes of 7 Noverr*)er 1990, 3 September 1999 and 30 October 2006 and as amended by Resolutioris of the Trustees al Speryal Meetings held on 18 June 2002, 1 December 2rJ)5, 21 June 2007 and 16 June 2009. TnBtees Tho namgs of the Trustees who served during the period and up to the dato of approval of this rep)rt are sel out as part of the reference and adnlnistrab.ve Infcrfmalion on page l of these annual report and financial statements. In accordance vllh the Trust's Goveming Documènt. the Board of Trustees consists of no fewer than len and not mre than thirteen Trustees. Durlng Ihe perlod Ms Wyman 12 June 20231 and Lleutenant Colond l A Vere NFcoll (30 Noverrt)er 20231 stepped down a5 Trustses, bolh havlng begn appolnled In 2020. Th6 ChairFll8n and Board wsh to thank them for their conlribution as Trusleos, having brought conSidera￿e exp8riene4 of granl4ivtng and kno￿8￿g& oflhe &x-military con81iluency to the Board. The stepping down of Ms Wymon ontj Lieutenant Colonel Vere Nicoll pronptsd the Board of Trustees to ertark on a recruitment campaign over th8 wnter months. The TNst has an opèrb and transparent recruilmenl policy aThl a suitable advert was placed in appropriate pla￿. In the Spring of 2024 applications were SCTutinised and. foll￿n9 Sntsrview5. three n&w Twslees werè duly appointed as shown earlier in this rep)rL The induction process was initsaled and new Trustees reraved full information packs whilsl thg necessary paperwork and appointments were carried oul by the Clerk lo the Trustees. The Board of Trustees is assisted its work by a Grants Su￿¢0rrthltt9ft and a Flnance & InvestnEnts Sub-comnmttee; the sub-committees are comprisad of a number of Trustees and some Trustees sit on bolh sulTrcommittee8. In 20121, as a ￿￿seq￿nce d the Covid- 19 pandemic. w facg-tsfacè meetings tCM)k place. However, like manyolher organisth'ons, the Trustees arranged for ￿rtUal meellngs uslng the Zoom so￿&re package. Ajbelt normality has retymed. the TrLtslees deaded to continu¥ to havo thtr abSllty tojoin vlrtually for those Trustees that might oth8rwis8 b8 unabl8 lo join a meeting in peison. QLteen Marf$ Roehampton TTUSI Tru8tses' report Year to 31 March 2024 GOVERNANCE. STRUCTURE AND MANAGEMENT (continued) Statement of Trust•g3' responslbllltles Th& Tnjstees are r8sponsibl8 for prepariro the Trustses, report finandd ststerronts In accordan￿ with apyicable law and United Kingdom Accounting Slandwds (Urmted Kingdom Gene￿￿Y knepted Aecounting Pra¢ticè). The law 8ppEicatle to charities in Engl8nd and Wales wimres Trustees to prepare finandal statements for each financial year which give a tnje and fair wew of the stsle of affaits of the Charity and of the intt)mÈ and 8xpènditurè of the rharity for that r*riod. In preparing these financial statements. Ihe Truslees a￿ required lo.. select suitable accounting potiaes and then apply Ihem consistenlly,. • observe the methe￿8 and prinoples in Accounling 8nd Reporling by Charities- Statement of Recommended PracU¢e applicable to charillas prepaiing their 8cwunts in accordance with the Flnandal Reporlng Stsndard atvllcable lo th8 Unlled Klngdo and Republic of Ireland (FRS 102)., make jud9errents and estlm8tes that aro reosonable and prL*Jent: • stste whether applicable Unlted Kingdom AccounONJ Standards have been fL4lowed, subiect to any ¥natsrkg1 departures disdosed and explained in the finanaal stalem8nts', and prepare the financial staterrEnts on the going concem basis unless it is inappropriate to presume that the charity will continue in operali¢Jn. The TNste8S are responsible for keeplng prop&r 8CCOtJnltng reccKds that disdose with reasonable accuTrcy at any lime the financial posilirm OF tho ¢harity and enaNe them to ensure that the financial statemBnts comply with th8 Charltles Act 2011. applicable Charity IA¢counts and Roportsl R8gulalion$ and the prowsions of Ihe chafity$ constllution. They are also responsible for safeguarding the assets of the tharily and hence for taking reasonat4e steps for thg prevention and detection of fraud and oth8r irregularities. Rlsk managamont The Trustees rwewed their approach to risk during th8 yoar. rew9wing and, wherg ne¢essary. updating the risk management strategy. The chief risks to the Trust remain those associaied wllh safeguarding Ihe value of the fvnds whilst generating appropriale levels of ir￿rrE that may be awarded to organisations bthich support eligible beneficiaries ensuring that sullable finanual systems are place. induding those TelatirvJ to the awarding and rnonitoring of ryanls. Tlw Trustees nlnlnlsè Inveslrront rf$k throl￿h the use of a fimi of inVestr￿nt martaggrs maintaining a diversified porttolio with a balance of asset allocations. Thè investrnent risk is fvrther minirrllsgd through the detailed s(¥uliny by the Finan(* & Investment sub- eommittee. which is Comprised of kno￿edgeeb1e and flnancially astute Trustees. Queen Mary's Roeharyton Trust Trustees, report Year to 31 Marth 2024 GOVERNANCE, STrVCTURE ANO MANAGEMENT IcKJntinu8dl Rlsk management loonlinuedl Contingency m98tings wth thg investment managors are prograrnmed durlng the ygar should the investment situation demarKI. Gener￿ operating risk is nwnimised through the regular review of the Tru$t's activities by the Twslaes. The Trustees are SatiSf￿d Ihal the 8rrangemnts whtch in place to manage 8nd reduce risk lo a ￿￿nImUM are appropfiale in the circumstances. All data used by th6 Trust is held ele¢troni¢ally th a copy being held by Ihe Treasurer as a back-up, should the n88d ari$e. The Tnjslees have agreed a suitable risk mariagement strategy to ensure that the business of tha Tiust and SUPFK)rt to beneficiaries continues. as discussed below. Key management ptrnonnel The Trustees con&der that they, along the Clerk to the Twstses, (ompdse Ihe key managgmgnt of Iho charity ￿ charge of direding and conlrollirrtJ, running and operating the charity on a dayto day bosis. Tho Treasurer a¢ts as lh* principal lino-manager for th& Clerk. The salary of the CleFk is reviewed and set by the Trustsos U￿n9 the annual retall pric index as a guide. ACTIVITIES. SPECIFIC OWECTIVES AND RELEVANT POLICIES Charltablo obJectlv95 and activiti95 The object of the Trust is lo relieve persons of the followng dasses are in need of as8islance- • Persons who seThed in any of the Armed Forces ol the Crown and tho were disabled in suth seNce and the widows 8fKI other depondants of such person5. • Persons who served in the mgr¢antile marino or in any service established under Ihe Clvil Defence Acts 1937 and 1939 and who were disabled in such Servi￿ and the wldows and other depgndanls of Suth pergjns. Thè Trustetss moet thè object of the Trust by maklng grants to any charilaue instltulions or organis81ions whose obje￿S i￿vd* Iho r¥ception. ac¢ommodatton. Irealmenl or aft¥r-COT8 of ￿rSOnS who com within the Trust's object as set out above. The Trusléas may also m8ke grants in aid of mgdiGal or SUTgica research having particdar regard to Ihg neèds of disabled persons who served in the Anned Forces of the Cro￿. Mindful of the aveT-¢hanging landsca￿ within the semng and ex-service community. and the evolving needs of ￿neficiaries. the Trustees review the granl%iving Fdicy on an annual basis and have a robusl progra￿9 of vists to previous and current benefidary organisation$. Queen Mary's Roehampton Trust Tru8tee8' report Year to 31 Mar¢h 2024 ACTIVITIES, SPECIFIC OBJECTIVES AND RELEVANT POLICIES Icontlnu•d) Publlc boneflt The Trust88s have had regard to the guldance Issued ty the Charlty Commfsslon Con￿mIng publlc ben*fit. They are satisfied th81 Ih? inf¢)mialion glven In thls Report, partiwlarfy regarding the activtlles undertaken when read in conjunth'on with the obi&cl$ of the Trust, demonstrates that the rgquiren*nis to identify puNic benefit have been rnel. The Trustees publicyse the work of the TTUSt and each year invite relevant orgonisation$ to apply to it for as&stsn¢*. Grant maklng pollcy The TrtJsl8es (xjnsider applications for grants from charitsNe institutions (Y oryanisations ose objects wilhin the Trusys object as set out above. There is r•) minimum or mayirThJm grant and the anKsunl avrdrded is revie￿ on o ¢a$8- byuse b88ls. Terms and condittons for grants are dl8cussed and draft&J by Truslees based on the applications. also on a case-by-case basis, but mindful of available funds. In som circumstances. the Twstees may decide lo award grants without any aeLompanying conditions. kn¥e$tment polScy ond perform•n¢e The Trust invests in accordance with the Trustee Investmont Act 201)0. Under the present law, the Tmst88s cannot Spend the Trust's Capital endowment or any capital gains vknlch derfve from IL unless special permis81on 18 obtained from the Charity Commission. Th8 numbers of potential benefiaaries (lepend on a vhde ranue of significant factors indudiro- Ihe mass rTh)bHlsatlon of men and women In 193945 have dwlndl8d to a few are now Cèntanarians atMI. in th8 main. frail; + the subsequent decade and a half of National Service inv(AviThJ a significant proportion of the male Ftyulation, seNing for short periods, 81though with a limited number of Inluries and (leaths in semce.. • th¢ progr6$9've rtdurtion thereafter Of the ArwÈd Forces 18llhough noting reC￿t ¢Jperations and casualties. many of whom would not have >JTrived in eadier conflicts but who will need expensive and long-temi helpl,. an inueasing recognition of the long-t8rm r￿tUre and often debiliiating effects of i severe rrEntal stress that may be incurred by persons military service" and • the additjonal life exp8ctsncy of wdow5, wiijowèrs end Cbvil partners extendlng the Ilf long peri￿1 of need of each generation ol ben&fioaries. Queen Marfs Roehampton Trust Tnwtoets, report Year to 31 March 2024 ACTivmES, SPECIFIC OBJECTIVES AND RELEVANT POUCIES {continuedl Inv•$knent poll¢y and perfommnco Icontinuedl Given th& passage of tiwE, and with due cortsideration to the age of thos& from the mass- n￿bIlISa￿On of 1939-45. the peak In numbers of veterans has passed. The number of veterans vAth War Pensicffl$ or awards from th8 Armed Forcos Cony8nsation Scheme appears lo have peaked also altho￿) some injuries. especi811y those of a mental nalure. takg some limg to to light. However, the proportion of veterans of working age continues to rise. albeit slovAy, and support in their advancing years is likely to increase also. What Is dear is the Inc*easiro cost of medl¢*l, and home support servlces which are prolonging both life length and quality. The c3)st incyeases tend to oulslrip inflatron al an accelerallng rate which continues to pul pressure on the funds available. The Trust&s' ¢ontinuing aim is to balance Ihg interèsts of cutTent and future benefiryaries by maxi￿sing inveslment incoTh. sijbject to the agreed risk profile, for distribution, while seeking lo maintsin the value of the undislrilxited Capital by no less than the RPI measure of inflation nKtr￿ recenuy. CPI. ￿n￿ 1990. the Trustees have distribthed over £17.5 million in grants from in¢i)rrE generated by the capital fund. The Trustees resolvg to continue th￿r long-lerm defensive approach lo the Trust's Inveslrr￿nt pcliGy. applyng due diligence throLbgh qUarte￿Y reviews. As prevlousty ￿ported. duTlng 21122 ts Finance & Investsnent Sub£ommSttee recommgndeo lo the Board of Trustees that the portfolio should be investsd in the Chartrty Mulli-Ass81 Fund whlch would into fvll effect 22123. This has resulted in the sn￿01h1nS-0UI of the income over 8 IhrFe-year pgliod and had given a greatgr at41ty lo forecast annu81 incorne. In the interests ofdarity, the Finance & Investn￿nI Sub-commlttee made r￿mmendatIOnS lo the Board ofTrustees on the treatmnl of Awmulalion units and Disthbulion Units within the investment in the Charity Multi-Asset Fund. After due consldetaljon the Board of TnAslees agreed that InCON￿ and incrèases In tha valu8 of units within the CMAF werg to be treated as follows: • Gains and losses in value of Ac£umulation Units are not treated as In(x)me for accounting and auditing purposes but are c4)nsidered as an unrealised capitsl gain lo the investment in order lo keop pace with inflation. • Income from the Dlslribution units is recaived as cash by the Trusl and treated as incom8 and Bvailable for distribution as grants approved by the Tfustees and lo sustain the runni￿ costs of th8 TrusL This was agreed lunanin￿usly) by Resdulion and reGorded on 16 April 2024. Queen Ma￿$ Roehanpton Tnjst TN$te8s' report Year to 31 Marth 2024 ACHIEVEMENTS AND PERFORMANCE Review of aclfvllles During the ygar the Grants sv￿cOmmIttee reviewed thg Grants Pollcy, nwklng recOm￿EndatiOnS for minor thang&$ which wgre endorsed by the full Board of Trustees ènsuring the needs of benefirAaries and potential benefic#aries could be nwlched with available funds. The Trustees agreed to continue lo review the Grants Pdicy on a regular basis. In parallel. the Grants sU￿)Mmittee revi4*Yed and n7ade some chan9es lo the application form in order to give 9￿ater w&bility to the numter of efigibte beneffiryarigs who wll benefit sf the 8pp4ic81ion is sutcessfvl. Ordinarfly the Tnjstees have an annual programm8 of vislts to benefidary and potenti41 benefiaary organlsations. S88 below for fijther delèlls. FNANCIAL REVIEW RwJul¢s forthe year A surrynary of the year's results can bg found on page 15 of this rep%)rt and finanL?81 ststen*nts. The Trust's totsl incomo for the year ended 31 March 2024 was £532,59112023 - £603.5601 comprising inveslmenl incon* and interest receiv8￿0. After grants and 0th8r èxpènses. the nel incom8 of thè unreslrict8d g8n8ral fvnd was £123,51212023 - £26,300). The r)et is added lo the unreslricted general fwtd aThJ thè balant* of the fund is available for distribution. Al 31 March 2024 Ihe balance of the fund was £203,389 {2023 - £79,877>. 97% of total OLrtgolngs were attrfbuted to charttable expEndlluro12023- 97%). Investment safe custody charges of È16,65112023- £17.3661 and net gains on inVeSth￿nts of £934.565 (2023 - losses £1,135.7071 are credited lor charged) to the gndowod cat#lal fund in aGcordan¢e with the Charity ComThHssipn'$ Statement of R9￿Mrrended Practice. The balance of the endowed ca￿tal fund at 31 March 2024 was £14,737.481 12023 - £13,819,567). Reserves pollcy 11 1$ the Trustees, pdicy to maintain a level of free reseNes neeessary to meet any sudden and unforeseen needs of Trust beneficiaries and to enablg the Trust's level of support for benefitiaries to be maintain&J in any year wher¢ incorrE falls below expectations. At present, the Trustees luijge the appropri8te level of such ￿SerVeS to be in the wion of £50.000 to £100,000. Where it beC￿n*$ necessary to use up any of these reseFNes, th& 8im is tr) restore them lo the dewred levd as soon as w8cti¢ablo. Where the Trust's accumulated income reserves 8xceed Iha desired level, the Trustees se8k to disburs8 the excess by way of grants to benefirAaries. At 31 March 2024 the free reserves of the Trust were above the desired level, at £203,38912023- £79,877). auean Marfs Rc*hamplon Trust Truste88' report Year lo 31 March 2024 FINANCIAL REVIEW Icontinu•d) Co¥ld-19 Pand¢ml The Covid-19 Pandemic prompted a number of restrictions on visi15 to medical arKI sotial cale estsbllshments to reduce the likdihwd of further Infacttons. In 22123. many of these r6stfictions were relaxed and 8 degreo of normality retuned. However, w11￿￿ the sou81 care sector, the ongoing caulionary approach impaded on the Trust's akn'lity to Carry out its programme of annual vlsils to som8 benefio8ry organisatksns In 23124. Nevertheless, a number of us8ful visits were carried out during the year which broadened the felationship be￿￿en the Trusts 8tbd benefid81 organis8tions. Golng concorn The Trustees have assessed the position of the charity as a gc4ng ooncern In preparlng thls report and finanTral statements and h8ve made kn's assessrnent in respect to a pgriod of one yèar from tha date ofapproval 01the￿ acwunts. based on the expecl8d18val of activity during 2024154. The charity had net current assets at 31. March 2024 and significant fixed asset inves￿nts whth can be converted lo cash if necessary in order to TrEetfu1U￿ grant commitments as or ￿en they are made. Th8 Trustees have theref￿e ¢xindud8d that. despite the res+dual chamenges of the Coron8vlrus pandemic. Ihere are no materi81 uncertainties re18ted to events or condlttons that may cast slgn¢fi(8nt doubl on thg abillty of the charity to as a golng conc*rn, and the L*arity wll have suffiaonl fesources to meot ils liabilib88 as they fall due. Queen Mary's Roehampton Trust Trustees, report Year to 31 March 2024 FUTURE PLANS It i¥ wdely aC￿pIed that a principal role of Governrrent is to ensure the safety of bts cllizens ond se¢ure th¢ country from fot¢ign interference or hostile acton. Thus. the neod forAmBI ForcE5 in pursuit of defen￿ of the country is enduring, for the foreseeable future at least. To that 6nd thè Trusteos fèèl th6 need for charitable sUp￿rt for those havg s9Ngd in the Armed Forces and have been injured or dIsa￿ed {be it ￿￿ntaI or physical iniuryl and their depelldonls will remain in perpetuity. On Ihg ong hand, those who have sgrved and are likely lo see Sery1￿ in the Amied For￿9 M ￿ntInue to dedlne in future years.. on the oth8r hand. Ihe cost 8nd complextty of support to indlvlduals Is Ilkely lo cont4nug 10 rfso. HislortGally, Ihe costs olmedi¢AI sUPPVrt and 50(llal care have tended to oulpace the general rate of inflafjon by a signrflcanl nkqrgln and there 1$ no suggfrstion that this tendoncy is likely to change. So10gainst such a background. the Trustees are minded to continue to support organisations which provide $8Nces lo individuals fall within the objects ofthe Charty. to the extent that the finanaal resour￿$ allow. Thus. the Trustees intend lo manage the Trust's incorne through the proper and prudent Investrnent policies whllst rrolntainlng the value of the endowfrEnt. F￿low5n9 the thallenges of the co￿￿ pande¥niG and the oruoing p(Ai*cal uncertainty, the assoaated nses In o)sts of raw materials. power 8nd foodstLrffs. the generd Ibul signifiwll rise in infiation has and will continu& lo see 8 corresponding in¢Jease in the need for suppcrt to bfrnefioary organlsations. Ind8ed. sinc* the Covid pandemic the Twst has seen a steady increase in requests for support, some of ￿[ch do not meet our ¢horilable objects. This is likdy to remain a theme in the short4erm albeit the longer-term is somewhat less predictable. However, when consideriThJ applicatsons for support. the Trustees wll continue to focus their pri(ty for supp(Yt to those organisaltons that provide support to eligibie beneficiaries who are most in need. To this end, application form and Grants Policy will continue lo be reviewed on a regLdar basi5 ensuring the most eff8ctiv8 IJS8 of the Trust's Incon*. Signed on b8haJf of th& Trust88S: As'r Marshal &r Barry Thornton KCB FIAF Chaimwn Apwoved by Ihe Trustees on.. %- - ILt Queen Marfs Rotshanwton Trust 10 Ind•pondent audltorfs r•port Y8ar to 31 March 2024 Independent audilorfs report to tho tru5tè8s of Queen Mary's Ro8hampton Trust Oplnion We have audited the a¢counl8 ofQueen Ma￿$ Roeh8mplon Trust Ilhè'th8rty'l for the year ended 31 March 2024 which comprfs8 the statem8nt of finandal aclivilie8, the balance sheet. the ststemant of ca8h flows, the prtndpal a¢￿untIng pollclos and the notes lo the accounts. The financial reporting frarrrawork that has been applled In thelr preparation 18 appllcaLle law 8nd United Klngdom Accounting Stsndards. induding Finanryal Reporting Stsndard 102'The Fln8ncaal Reporting Stsndard applicable in the UK and Reputjic of Ireland. (United Klngdom Generally Accept￿ Accounting Praotir*l. In our OF4nion, thè 8ccounts'. • give a tnje falr view of Ihe state of tha charity's affalrs as at 31 March 2024 and of Its incotyt end expenditu￿ for the year Ihen ended" • have been wopèrfy prepare(J in accord8n¢* with Unitsd Kingdom Geneially Ac¢eptod Accounting Practice: and * have been prepared in actordance wth the requirernonts of the Chafities Acl 2011. Basls for oplnlon We conducted ¢Jur a￿111 In accordance IntsrnaJon81 Stsndards on Audltlng (UK} {ISA8 IUK}l and apKAlcable law. Our rgsponsibiliti8s under thos8 standards are fvrther do￿be£l In the audilor's responstbilities for the audit of the accounts se¢tion of our report. We are independentof the charity in accordance with Ihfj ethical requirements thatare rglgvant to our audit of the accounts in Ihe UK, indudin9 the FRC'S Ethical Standard. and we have fvlfflled our other ethicl responsiknlilies in aco)rdance wlh these requirements. We believe Ihat the audit eviden￿ we have obtained is sufficient and appropriate lo prowde 8 basis for our opinion. Con¢luslon8 relatlng lo golng concern In audlting the accounts. we have ¢x)ridu¢Jed that the truste6s' use of the g(¥ng concern basis of aco)unliThJ in the preparab.on of the 8ccourrtg is appropriate. B8Sgd on thg work we have perfomi¢d. we have not identsfied any material uncertalntles relating to ovonl$ cjr conditions that. indiwdually or colleth"vely, may cast signifi￿nI doL*I on the charity's ability to rA7ntinua as a going Concern for a period of 8t least twelve mnlhs frcrfn when the accounts are authorised for issue. Our responsilmlities and Ihe responsitrAlilies of the trustees respect to going (x)nr£m are describgd in the relevant sections of this report. Qu¢6n Mary's Roehampton Twst 11 Independent audltor'8 report Year to 31 March 2024 Other inf0m￿tiOn The trustees are r8sponsibl8 for the other inlomialion. The other infomialion Comprises the informalim included in the annual report 8nd accounts other than the accounts and our 8uditorfs reFth thoreon. Our opinion on Ihe accounts does not cover the other Information and we do not express any fomi of a$surancg conclusion Ihweon. In connecb.on wlth our audltof the accounts. our responsiknlity is to read the other Information and, Sn doing so, Consider whethèr thè other information is materially inconsistent with th accounts or ojr kno%￿edge obtained in the aLKlit or otherwise appears to be materially misststed. If we identify such maleF181 Inconsisténaes or apparent nwterid misstalemenls, we arg f8quired to determine whether Ihere is a material mi55tsle￿E￿t in tho accounls or a material mlsstsleu￿llt ofthe other information. If. based on the th we have perf0M￿d. we clude that there Is a matsrf81 mlsstatemenl of this other information, we are requlr8d lo report that fact. We have nolhing to rep¢)rt in this regard. Matters on whlch are requlred to report by •xcoptlon W8 havo nothing to ieport in lesped of the fdlowing wpatters in r8lafjon to ￿lCh the Charities Act 2011 req￿reS us to report to you if. in ouropin40n'. • Ihe infomHlion given in the trustees, annual report 15 in¢onsistenl in ary material respect wlh the accounts: or • sufficlent acLvunting records have not been kept.. or • th8 &c￿Unts are not in agreemènt wth the accounting records and ratums". or • wo hovg not r¥cgiv8d all tho information ar¥J explanations we require for our audit. ResponslbllhSes of trustees As explained more fully in Ihe trustees. responsibilities slalemenl, the trustees are responsit4e ft)r the preparation of the accounts and for being satisfied that they give 8 true and fair view. and for such intsmal ￿ntrol a$ the trustees determi￿ Is necessary lo enable tho preparafjon of accounts Ihat from material rnisstateThEnt. %thether duo to fraud or ernr. In preparfng Ihe accfjunts, the trustses ar& ￿spOnsI￿e for assessing the charity's ablllty to continue as o golng concam. dl$d¢)slng, as appllcabltr. m9tt•rs r818t8d to going Con￿rn arHI using the goirNJ conc8m basis of accounting unlass th8 trust8as eilh8r intend to liquidate the charity or lo ceaso operations. or have no realists'c alternativa bul lo do so. Quéen Ma￿$ Roehampton Trust 12 Ind•p•ndont audltorfs raport Year to 31 March 2024 AudltoVs responsibilltleg for the audlt of the accounts Our ob3ecbve$ aro to obtain reaSona￿e assuran￿ about whether the account$ as o whole are free from material misslalemenl. whether due lo fra￿ or error, and to issue an auditorfs reportthat Indudes our opinlon. Reasonable assurance is 8 hlgh level ofassurance, butls rmrt a 9uaranl8e that an auditconducted in acix)rdance with ISAS {UK}wll alwaysiJel8cta Troterial misslalemenl when itexists. Misstalemnts can arise from fi8ud or error and are Con￿dered malgrial if. individually or in the 8ggregale, thay could reasonably be 8xp8ctsd to influenco the ecommic deasions of users tsken on the basls of these accounts. Irregularities. induding fraud. are instances of non•compl1an￿ with laws and regulations. We design procedures in line wilh our responsibilities. ouljined above, to delect material nNsslal8ments in reS￿cl of irregLlarities. irK4uding fraud. The extentto which our prO￿dureS are Gapab18 of d8t8cling irrylarilies, induding fraud is deLwled below= Our approach to Id8ntifylng and as88sslng lh8 rfsks of materlal rn1ssts1e￿nt in iespect of Irregularities, induding fraud aThY nort-CX)mplianca with laws and regul*ions, was as fdlows: • the engage￿￿nt partner ensured that engage￿￿￿1 team collectbvety had Ihe appropriote (ompalenG8. capabilib.es and ski115 to identrfy or recognise non-compliancg with applicable laws and regdaliMs.' 8nd + we oblained an understanding of tho legal and regulatory framgworks that are applicable to the charity and detemiined that Ihe nM)st significant framewoths vthich are direcdy relevant to st)ec¥fic assertions in the fir*ancial State￿nts are those that relate to Ihe roporfing frame￿￿rk (Statement of Reca)M￿￿￿ded Practice." Aco)LFnting and Reporting by Charities preparing theiraccounts in accordance with the FinanGal Reporting Standard applicable in the United lQngdom and Rewbli¢ of keland {FRS 102) and the Chadties Act 20111. We assessed Ihe susceptibility of th& charity's financial statemènts to malgria misslalgm8nt. induding obtaining an understanding of how fraud rrright occur, by. making enqLiries of management as to lh￿r knovdedge of actual, suspected and alleged traud: an considering Ihe internal controls in F4ace to ￿￿tIgate risks of fraud and non•complian with laws and regulations. To address the risk of fraud through management bias and override of contrd5. we.. • perfomk¢Y an8lyJical proc£dures to Identify any unusual or unexpected relationships n response to the rtsk of irrggularities and nonkncompliance with laws and regulations, 9slgned procedures whlch Included. t)ut ￿re not limlted lo.. • review of the minutes of meetings of those clHrged with gov&manc8' and • enquiriThJ of managetr*nl as lo a(aual and Fthntial litigation and daims. Queen Marfs Roehampton Twst 13 Ind•wndent auditof$ report Year lo 31 March 2024 Audltorfs responslbllltles for the audtt of the accounts {￿ntinued) There are inheienl limitations in our audit prccedures desuibed above. The more removed that laws and re9￿￿tiOnS are from finènoal transaettons, the less likely il is that we w<)uld become 8war8 Qf non-compliance. Auditlng standards also lirril the audit pro￿lUreS requlred lo identify n¢)n-complIan￿ with laws and regulations to enquiry of the trustsos and other nwnagoment and the inspection of regulatory and legal correspondenrA. if any. Material misslatsmgnts that arise dug to fraud Can be harder to deted than thosg that arise from error as they may involve deliberate concealment or collusion. A furthw descriptiDn of our r8sponsibililies for the audit of the accounts is located on thè Flnandal Repofdng C(yJncil'$ website at www.fre.org.uKlauditorsresponsibilities. This descripl'on fom)s part ol tsur authtorf$ reFX)rL Ug0 Qf our report This ieport18 made $018ly to the charity's Irustees, as a bc4Jy. In aclofdance wth Section 144 of tha Chartllas Act 2011 and Mth regulations Frode undei section 154 of th81 Act. Our audit work has been undertaken so that we might slate to thfj chorlty's truste8s those Inatters we 8re requir8d to stale to them in an auditorfs report and for no oth8r purpose. To the lulle51 extent pemiltted by law, we ¢Jo rM)l accEpt or assume responsibility to anyone olher than the charity and the (tsrity's trustees as a body. for ￿r audit Kjrk. for this report, or for Ihg opinions we have fomied. Chartton Baker {B￿stC1} Ltd Eden Business Park, 61 Macrae Road, 1st Floor, Ham Green. Bristol. BS20 ODO Dale.. Chartton 8ak8r l&istol} Ltd is eligible to act as an auditor in term5 of section 1212 of the Companlas Acl 2006 Queen Ma￿S Roehampton Tru8t 14 Stalement of financial activitie8 Year lo 31 Marth 2024 Endawmertt UN￿1¢￿0 fuThd8 Total EndowTn8nt un￿strthd 2024 funds fuNJs 2023 Not¢s In￿me and •ndcwrnients InvgStrn8nts Total In¢c¥n• 531591 531591 532.591 J32W1 528,215 S28,215 528215 $28215 E%pen(Mlure on: Raising furtds . Investrnlnt manag*n*)t costs ¢h8rftsbte ￿ti￿lieS Totsl •xW￿l￿j 1&651 1&651 409,079 425.730 17.366 17,366 501,915 519,281 409,079 40b.079 501.915 501.915 1&651 17,366 Net lexpendlturel In¢¢ b•for• knvtstment 118,6511 123,512 10V61 (17,3ffi1 8,934 N8lgaingltr>sesl gan8r Investments Net In¢ome lexpendlturel netfflov•mwrt' funds 934,565 934.565 11.135.707) 11.135.707 917.914 123,512 1.Q41A26 11.153,0731 26,300 11,126,773) R•croved on". S- 11 - 14 {￿een Mary's Roehamplon Tn￿1 16 Statement of cash 110￿ 31 Mard) 2024 2024 2023 Noles Cash flows from operating actlvlttes: Net cash us*J In cyerab.ng actt¥th"es A 1427.061} 1518.6601 Cagh flow* from Invgstlng aGtivltiO5= Cash dividends and Inte￿$t from inVestm￿ts s#￿ of imiestmenls Not eash provldod by Invtstlny acllvths 532.591 17A59 550.050 528.215 528.215 Chang• in Cash and rAsh •qulvalgnts In Ihe yo•r 122.989 9.555 Cagh and ca6h equlvaknnt$ at 1 April 2023 81,152 51,597 Cash and cuh •quI￿l￿nts at 31 Mar¢h 2024 184.141 61,152 Motes to the statemènt of cash flow8 lor th year to 31 March 2024 A Recon¢lllatlon ol net mowmfjnt In funds to ngt cash used In oporatlThJ actlvltles 2024 2023 N•t mov•m•nt In funds las pèr the statèment of finanelal aettvitlesl 1,041A26 11,12e.7731 Adiustmonts for.. (Gains) I losses on investrnents other movements on investMe￿S DNidends and interestlrom investh)enls IDecTeasel l increase in ¢reditors Net ¢a>h uged In gperntlng activitks 1934,5651 1,135,707 {6111 13891 1532,5911 1528.2151 ¢7201 1427.0611 1518,6601 B Anaty818 of c88h and cash equlval•nts and movemnt In net debt 2023 Cash 2024 CBsh at bank and in har Total cash and cash •guiv•l•nts 61.152 61.152 122.989 t22,989 184141 184,141 Que8n Ma￿S R08hamplon Trust 17 Principal accounting policiès 31 March 2024 ACCOUNTING POLicies The prlnapd accounting polities adopted, judgements and key sources of estlnw￿on uncortainty in tho preparallon of the flnanclal statements are lald out below. Bas1$ of preparatlon Those financ4al staleff*nts hav8 been prepared for th& year 10 31 March 2024. The financial statements have been prepared underlhe historical cost convention with items recognisad at cosl or transaction value unless oth8rwse staled in the relevanl accounting pcAicie$ bdow or tho notes to th8s9 accounts. The finanoal staterHents have been prepared in acwrdance wtrth Accounling and Reporbng by Charities.. Ststernnt of Recommended Pra¢lice appli¢2ble lo tharities preparing their accoLtnts in aefxbrdance with the Financial Reporting Standard apFIiCa￿e in the United Kingdom and Republlc of Ireland IFRS 1021 {Ch8ri1ies SORP FRS 1021. the Finanoal Reporting Standard applicabl8 in tho UK an(J Republic of Irdand IFRS 102> and the Charlties Act 2011. The cha￿ty conslFtutes a public benefit entity as d8fin8d by FRS 102. The financial $1ot8monts are wesgnted In 81eding and are rounded to the nearest pound. Crltlcal ac¢ountlng e8tlmates and areas of judgement T￿re are no &gnbfi(xrrt areas of judgement or key assurytions that affe¢i in the financial Staten￿ntS. With resixt to the next reporting period, Ihg rrost signlficant areas of UT￿ertaintyare the carrwng value ofinvestmenl as5els held bythe charity. wh￿h vJ5N depend on the perfompnce ol inv6slm9nt markets and the invest￿￿￿1 income from these assets. Assessrnent of going ¢on¢grn The trustees have assessed whelherthe use of thegoing concern assumption Is appropriate in prepartng these financial statements. The IN8lee$ have made this assessment in r8sp8Ct lo a period of one yew from lh& dato of approval of these finanaal State￿nIs. The trustees of th8 charfty have conduded that IheTe are mat8rial unrxrtainties related to 8vfrnl$ ￿ o)ndillons that n￿Y cast slgnificant doubl on the abillty ol the chanty to cont6nue as a going conc8m. The trustses are of the opinion Ihat the chanty wll have suffiu¥nl resouices to meet its liabilill¢s as they fall due. This is because the value of assets held by the ¢h8rity is very materially in excess of the liabililies of the tharity and the level of commitmènts in respect of grants approved for pro3ecls payable in fvtU￿ years. The most tsignlfi¢ant arpa5 of judgement that affect items in the financial statements ar8 detailed above. With regarf to the nèxt accounting period. the year ending 31 March 2024, the most signlll¢ant areas that affoctlhe value of the assets held by Ihe chartty are the I$vg1 of investment return and the pèrformance of thè investn*nt markets (see Ihe investnpnl policy and the risk management sections of the trustees. report for more infommtionl. Qu88n Mary's Roehampton Trust 18 p￿￿¢[Pa1 a¢eountlng pollcl•s 31 March 21Y24 In¢om• r9￿gnItIon Incom8 Is rewgnlsed In the perlod In whlGh the chadty has enllllem&nt to Ihe income, Ihe amount of income can be measured reliably and il is probable Ihal the irkcome wlll be received. In¢on* ¢omprisg$ inieTe$l r¢oivaLl¢ and invastmsnl in¢ome. AJI in¢om¢ is a¢c4unted for on an accfu815 basi5 in aco)rdance with the ts)nditions of the SORP. Inveslment Income from Ilst&J investments Is recognised once Ihe Incc4m8 h8s been dedared and nolificatton has been received of the an￿)Unt due. Interest on funds held on dèpost is induded when reeeivable and the arrwnt can tr measured rdiat4y by the charity.. this is normally upon nolrfication of the interest paid or payaL4e by the bank. Exp•nd4tur• rKogfMtion Liabilities are recogr4sed as expendlture as srx)n as there Is B 18981 or construcllve obligalion ￿MIr￿tting thè charity to make a pay￿nI to a third paty. 11 Is probabl$ Ihat a transfer of ecK)nomic benefits wll Ee required in settierrEnl 8nd the amount of the oblig81i n be measLsrgd rdiobly. AJI expenditure is accounted for on an acctuals basis and indudes attributable VAT whith cannol be rewve￿d. Ewenditure comprises dlrect costs an¢J support costs. Al expenditure, indudiro suppirt ttjsts, Is allO￿ted or apportioned to the applicable exp8ndilure headings. Expenditure COrnPTises the folFowing.' a. Expenditure on ralsing funds indudes the fees payable to the Investm&nt ￿nagerS In connection with the management of the charity's investments. b. Expenditure on charitable activities comprises grants payable to rèlieve persons are in need ol assistance who served in any of Iho amie11 foTCèS of the Cr(Mn or in tha merc8nllle rnarirte or in any Swmce esl8biSshed under the Cithl D8fenc8 Acts 193f and 1939 and who were disabloJ kn such service and thesr depen¢Y8nts. together wlih Ihe cost of administering tho grant programrne. Grants payable aré Induded In Uie statement of fln8ndal aclvilles %then 8pprovad 2nd vthen Ihe intended ret?pient has either received the funds or been infomied of the decisi¢)n to make the grant and has satisfied all related condStions. Allocation ol Support and gov•mance co8t8 Supwrt cos15 represent irmlirect charitable expendllure. In order to carry out the object of the charity 11 is necessary to prowd8 support in the form of financia and govemanea procedures. wovl&on of office serwces and equipment and a sultable environment. G¢)vemance costs comprtse the costs Invdvlng the public accovntsbllty of the charity linduding audit W5tsl and costs in respect lo ils compliance with regulation and g(KKI Queen Mar*s R￿haMPIOn Trust 19 PrinGipal accounting polici•9 31 March 2024 Support costs and govemance costs are allOc￿ed to the charitls singla charitable aLllwty 88 any app(*tionmenl be￿88Th exp8ndllur6 on ralslng fuThJs charitsble activltlo$ would bo immaleriaF. Inve$tm•nts Listed inveSt￿nIS are a fomi of basic financid inslnjment and are 1nlkn.ally Ttscognised at therrtransaction value and subsequenty measured al theirfair value 8s attha balan¢8 sh881 ate using the dosing quoted market price. The charitythes not acqulre put options, derivatives c*othercomplexfinancial bislruwÉnts. Realised gains lor I￿$9$) on investrmnt 8ssets are ￿l¢Ulatslj as the difference beiween disposal proceeds and their opening carying value or their purchase value if acquired subsequent to the first day of the finanaal year. Unreglised gains lor losse8) are calculated as the difference be￿een the fair value at the year end and tholr ¢arywng Ydlue at that date. Realised ar￿ unreallsed investment gans lor losses) are ¢ombined In the ststsment of nancial actiwties arKI are credited lor debited} in the year in ¥thi¢h troy arise. The main foim of financial risk faced by the charity is th81 of volatility in equity mark9ts and investment martgts due to wder 8conomiccondilions, th6 attitude of investors to investn*nl risk. and changes in sentirrtnl concerning equtbes ￿thin parbw18r sectors or SLtb sectors. Debtors Debtors are recognised at their seluemenl amount. less ary proM$ion for nonarecoverability. Prapayments are valued at the anM)unl prepaid. They have been di8￿Unted to the prosent value of the fiJlLtre cash receipt where suth discounllng Is materfial. Cash at bank aftd In hand Cash at bank 8nd in hand represents suth accounts and instru￿￿ntS that are available on dgmand or have a maturity of less than three nv)nths from the date of acqulsition. Cash placed on depost for mrg Ihan on$ year is disdosed as a fixed asset inveslm8nl. Crndltors and provislons credito￿ and provisions are recognbsed when there is an obligation at th8 balance sh8gt dats as a result of 8 past event. it is probable that a transfer of economic benefit will te required in selllement. and the amount ofthe sètdementcan bè esb"mated rdiably. Creditors and provisions are recognised al the amoltnl the charity antscipales il wll pay lo setue the debt. They have been discounted to tho pr8s8nt vauo of Ihe Gash paynpnl where Such discounlng15 malerlal. Fund accounting Th8 unrestrlo*ed fijnds represent funds available for 98nera charifat4e wrposes of the Trust al Ihe disL¥etion of the Trustees. 9ndown￿nI fttnd comprises monies whid) must be held indefinitdy a$ ¢apitsl. The income Iherefrom can be used for general purposes and is credited directly to unrestricted funds. Queen Mary's Roehampton Trust 20 Notes to Ilnanclal statem•nts 31 March 2024 1 kncome from Inwstments Unrostrictod and total fijnds 2024 Unrestrict and total funds 2023 hcomg frcfft li5tgd Investmgnts 532,591 531591 528.215 528,215 2 expendlture on ralslng fund$ EndDwment Endowm8nt and totsl and tolal funds lunds 2024 2023 y8strn8nt manag8rix6ts 16.651 17,366 3 Expenditure on charitable aclivitlos Unre*trtctèd and total fvndo 2024 Uwestiicted and lot funds 2023 Grants payabl• 4) Suppurt ¢08ts {nots S) Granls payable Inote 41 Suppclt cost5 Inole 51 Gfant rnaklng 3n.40 3SS59 40*￿79 465.000 36,915 501,915 Queen Mary's Rcehamplon Trust 21 Not8$ to the financlal slatements 31 March 2024 4 Giant$ payable Unrostrlctod UNe&lrtho and totsl an¢ toi funds funds 2024 2023 Royal Biitssh L8gion lfidu5trie5- routine ex￿￿1￿￿8 8nd f￿*r￿rk 8foughton H￿S8-MU11ne exFenditur8 and reL￿fV￿rk Combat Str8S8-kn suprm of th? CommuNiy Mental Hoalth Proyramm• for oligiblo bgnefidarfes Elskine Hoswtal- nutinB gxp8ndibJrg rdld *rrfk P¢Jppy Fac40ry- In suppJrt of the'Get You Back to Work, pr¢gr￿rne for eligible benefidarf8s Sloll Ipraviously Sir08wBld Sioll FoundaUonl- (oubne exF•nditur¥ aThY relpf YKJrk Blesma The ￿M￿855 VEterdn5-In SUPPOTi ofthe'M*kng GenBralbn R, program Defanc8 MedKal Wellare Sarvk8- rtyjtine expendture and rd68f The'Not Forgotten, AsswalM)n- n)ullne expenithlure and ￿lef %￿rk Roy81 Naval BenevdentTru8t- rrxjune ex(*nditure fel*f w)rk Veterarts Aid- In support of ebgibie be￿icIa￿eS BritBh Ex-SgNILXS wheelchairS￿rts Assctlatlon- roulknè ￿Po￿lit￿re Royal Commonwvlth Ex-SBryl¢es Lea•￿- routine exp￿th.tU￿ atxl rdlgfmvrk fordigltle bgnthjarfes , Sailor¥, Aim•n and F8￿MIl88A$soLlation- r￿tin8 ￿p9ndit￿le and relief Carune P8rtneTs- In SUFVOrt of £ sp8dfK canln¢ parfnerthp Gurkha Welfar8 Trusl-vAfare 8UPPDrttO 81191b￿ pen$t￿￿r8 and In support of thair care homes In t￿paI Sc4)ltish Veteran$. ResidenGes- *pair and m&ntenance Akbare-foubne expendilvre and rel￿f w)rk Chasaley Trust- riNAtine expeThlkur8 and rel￿w￿rk L8unc* pad- roub"n8 éxpeTh11tt5m and relièf vA)rk Royal Navy and Roy81 Marine Ch#d￿￿'S Fund- rNtine exp8ndiiuro ar¥J reli8l*ork SkNn4 Injuiigs AsscKlatk)n- rouling expend￿r9 and rdief National GuKVeterans and FamiliesAssouabon-rwtiMexperrt1i￿re relief ￿rk Wings frKWanlors Tum to Str￿0￿d Royal Stsr and Garter No￿S V¢teran8 Outr8ach Supwrt- rfAJtsne expwditure and Yelief WIUiam Sknp$on's Hon￿. Slirflng- rO￿tir￿ exFty￿itUre and relFef In 8UPPOrtol digi￿6 b8n&￿a￿@S RAFAssouaiiory RM AssoGiall( Royal Ajfrwj Seafargrs ca￿ forveterans BMWH- Inbtalkntion of new domestic bThlew5 On COu￿e Fwndalion- routine expenditure aTrJ T￿￿f Totsl grants payable to In8thution8 3S,ONI 15.1 35.OCO 15,C 30,000 30,QIMJ 30,(MX) 30,￿7 30,000 30,(KiI 2￿01X1 30,IX)O 25.000 25,000 10,000 30,OIXI 240ty) 25,CO) 10,000 20,0 240 140 16.CKJ) 10,IYX) 10,1KKJ 20.(￿0 10.( 40 10,000 30.(hJo 12.000 21.CQO 10.000 10,(KJO 5.wo 10.CN)O 21,000 5,01)0 37￿20 465,WO Queon Ma￿$ Roeharrpton Trust 22 Not08 to the fiftancial statements 31 Marth 2024 5 Support ¢ost8 Unr•5trict•d Unrèstricted and total and tot fvnd4 funds 2024 2023 Staff ccets (note 71 GL}vama￿ cosls Other costs 25,707 7,881 1,971 35.559 26,825 9.167 2,066 38,078 6 Net expendlture for the yoar ￿fOre net investment gai This is staled aftei charging.. 2024 2023 Audiiorfs ￿M￿neratIon . Audrt fees fj.420 7.140 7 Staff ¢osts and remungratlon of key manag•m8nt ￿r$I)nDe1 2024 2023 S818rieg and wages Pension contributions 24.43B 1,269 25,707 25,662 1,1e3 26,825 No employee earnèd £60,000 ￿ ￿￿)re in the year {2023- none). The averago number of ery)loye8s during the year was 112023- 11. The key management Personnel ofthe charity in ofdirectng and controling. runniTr3 and (yraling thè charity on a dBy to day basis C£Jmprise the trustees and the Clerk to the truste8s. The total remuneration linduding tsxable benefits and eryployees pension cont￿bUt10n81 ofthe key managementpersonnel forthe yearwas £25.70712023- £26.825). No remuneration or other bgngfits have been paid or aro paya1￿9 to any Trustee or person connected with such a Trustse directly or indirectly frcth the lunds of the Trust in the year 12023- none). Ourfng the y8ar the Trusl ￿1mbUr8ed lo 6 Twste&s (2023 - 5) travel. subs1sten￿ and rneeting expenses of £1,46112023- £1,022}. 8 Taxatlon Queen Mary's Roehampton Trust is a ragistered charity and Ihgrgth is nol Ilable to Inco tax or ¢aFilal gains t8x on In￿n* derived frcm ils charilat46 activiti'es. as it falls thrilhin thè various exe￿￿tionS available to regisiered tharit￿$. Queen Mary'$ Roeharnpton Trust 23 Notes to th• financlal slatemenls 31 March 2024 9 hwestments 2024 2Q23 ark8t value a11 April 2023 Addttions 81 cost Di5PD5aFs Vnrealised inv85tm8nl garns 11ts59$1 Ma￿et value at 31 March 2024 Cash hdd by investment rnanaggrs k)r r94nvgstrngnt 13.845.063 14.980.T70 117,4591 934,$65 11.135,7071 14,762,168 13,845.(￿3 369 14,763,149 13,645.432 H￿l￿ra[ ¢r6t of Snvestmfrnts at 31 March 2024 14,SB1.576 14.520.883 Al 31 Mafch 2024, the charity's investments LL)rnprised hoEdings in UK Multt-Asset Holdlng Unit Trusts only. 10 Crnditors.. amounts lalling due wlthln one year 2tr24 2023 Accruals 6A20 0,420 7.140 7.140 11 Related party transacti¢n$ All Trustees are requir￿1 lo dedare any interests they ￿ have wlh rAganlsaJons Ihal are applwng for support 81 every meeting. The following Twstees wore also trustees of, or connectsd with. oth8r volLtntary organisatic￿$ which re¢8ived gronl8 anty donations from Queen Mary's RoehaTrplon Trust durbng the year ended 31 March 2024: Amunt Tr￿tee Voluntary oryan15a￿on Major Jatngs J M*namara DelenLY Medical WeW8r8 S8Nice 30.000 Amount 2023 Trust8• Vduntsry organi$8tion M8jorJame$ J Macnarngr8 Def8FKY Medul Welfare Servi 25.0(Y) Quèen Mary's Ro$hanplon Trust 24 Notè¥ to tho financial slatements 31 March 2024 12 Endowmont funds Expendlturo, Ins and At31 Aprfl 2023 2D24 Endcmment fwids 13019.567 917.914 14737.481 Exp8naleurè. gwn$ and Jbsses IrKoffle R&sfat6d A131 Atl 2022 R&stated 2027 14,972.640 {1.153,0731 13,819.567 The endowrrEnt fund of the charity derives oflginally from the sale of real estate. Ihe proceeds of which Y•ere Invested. 11 Is, therefore. not available ffx dls1ribulJon by U Truste6S. 13 Analys1$ of not assots betw•8n funds Unrostrlcted general fund EndowTnaDI Fund balan¢eg at 31 March 2024 ￿ represenw by: Invggtmgrrts Curr9nl assets Creditors.. arnounts falling within ong ygar T4)tal nèt asxts 14737.481 25.861 14.763.1 1M141 184,141 16,4201 16.4201 203.38 14.W87Q 14737.481 Unr8stnct8d gerETrl f￿d Endowment hjnds funds 3023 Fund b818nces 8131 hlarch 2023afe reP￿Sentedby.' Investmenls Gurrent ass&ts Crndllor$.' amounts fawng wflhln y8or Totsl net 8888ts 13,819.567 25,865 61, 152 17.140) 79,877 13.845.432 61.152 (7, 140) 13.899.444 13.819.567 Queen Mary's Rc¢hampton TrLtsI 25