HONOURABLE SOCIETY OF KNIGHTS OF THE ROUND TABLE BENEVOLENT FUND FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Page I Index Page 2 Trustees and Advisers Pages 3 - 4 Trustees, Report Page S Independent Examiner's Report Page 6 Statsment of Financial Aetivitks Page 7 Balance Sheet Pages &IO Notes to the Finaneial Statements HONOURABLE SOCIETY OF KNIGHTS OF THE ROUND TABLE BENEVOLENT FUND Rryi$1er￿ Charity N￿ 212217 TRUSTEES DURiNG 2022 The Trusttts of the Charity are the members of Chapter of the Sotiety Knight President Admiral the Lord West of sp1th￿l GCB DSC Deputy KDight Presldtnt DHA Jones FRCS Memb¢rs of Chapter *nd Truste¢s A T Clarke T Philp FRCS M Pi¢ko5gill MA FRSAIDece&ed 13th April 2023) C P L Mark¢ FCA D Grahame OBE P W T Wilkins FRSA A G Willenbruch MA BANKERS Nation￿ Weslminsier Bank PIC l Hatton Garden London ECIP IDU HSBC Bank Pl 123 Chancery Lane l￿w￿A IQH INDEPENDENT EXAhllNERS Perrys Audit Limited Chartered A¢countants Churchdoivn Chambers Bordyk¢ Tonbridge Kent TN9 INR HONOURABLE SOCIETY OF KNIGHTS OF THE ROUND TABLE BENEVOLENT FUND TRUSTEES, REPORT The Trustees present their report and Financial Statements for the year ended 31 December 2022. l. Objeetives and Activities The objective of the Fund is the provision of awards. exhibitions. special prizes, bursaries and scholarships for the purpose of education and training. The Trustees meet three times a year to approve the Financial Ststem¢nts and consider the level of awards recommended by a sub-committee. The Trustees hold a number of dinners each year at which awardees are able to meet members of a number of proftssions who may be able to help them in their future career. The Fund is regtstered with the Charity Commission, registration number 212217. L Achievements and Financial Review The results for the year are shown on page 6. The Trustees have continued to make grants in furtherance of the Fund's objectives. In the year grants totslling £54.750 were made (2021: £42,500). The Trustees continued to introduce new Knights and to encourage all Knights to take advantage of Gift Aid in order to maintain charitable donations to the maximum. The funds of the Charity were £185.527 at the end of the yearf2021: £229.403) The Trustees are satisfied with the state of the Charitys affairs. 3. Trusttts and Advtsers These are shown on page 2. 4. Investment Policy The Trustees rely on the investment management of COIF and M&G to provide balanced investment risk. In 2009. the Trustees made a general review of the Fund's investment policy in the light of the turbulent financial conditions and were satisfied that the status quo should be maintained. 5. Reserves Polfiey The Trustees regard the unrestricted fund as a fund to provide income to meet the Fund's objectives an although they could have reGours¢ to IL they do not intend to do so. Liquid funds are retained to ensure that they are available for current years, grants. 6. Constitution, Strueture* GovernaD¢e and Management The Knights of the Round Table Benevolent Fund was established on 29 February 1992 under a Declaration of Trust establishing the Fund as a charitable trust. The Fund was created by certain members of the Honourable Society of Knights of the Round Table (a company limited by guarantee No: 829635) in order to fornMlise the charitable activities administered by the Society for at least the previous 100 years. 7. Rtsk Management The Trustees have examined the major strategi¢ business and other operational risks which the Fund faces and ¢onfinn that they have taken steps to mitigate those risks as far as possible. There are regular meetings of the Trustees to keep risk under constant review. HONOURABLE SOCIETY OF KNIGHTS OF THE ROUND TABLE BENEVOLENT FUND TRUSTEES, REPORT For th¢ year endcd 31 December 2022 & Public Benefit In meeting the objectives the Trustees have given careful consideration to the Charity Commission's g¢neral guidance on public benefit and judge that all donations made meet this guidance. 9. Trustees, responsibilities in relation to the fiDancial statements The charity trnstees are responsible for preparing a trustee5' annua] report and fmancial statements in accordance with applicable law and United Kingdom Accounting SL3ndards (United Kingdom Generally Accepted Accounting Practice). The law requires the charity trustees to prepare financial statements for each year which give a trne and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure. of the charitable company for that period. In preparing the financial statements, the trustees are required to: • select suitable accounting policies and then apply them consistently, observe the methods and principles in the Charities SORP: make judgements and estimates that are reasonable and prudent. • state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements" prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trnstees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for saf¢guarding the assets of the charity and the group and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the mainlenance and integrity of the corporate and financial inforniation included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. CPL Marke Knight Treasurer Trustee DHA Jones FRCS Deputy Knight President Trustee Dated: INDEPENDEKf EXAMINER'S REPORT TO THE TRUSTEES OF THE HOIYOUII4BLE SOCIETY OF KNIGHTS OF THE ROUND TABLE BENEVOLEIYf FUND Independent examiner's report to the trustees of Tbe Honourable Society of Knights of tbe Round Table. I report to the tn￿teeS on my examination of the accounts of The Honourable Society of Knights of the Round Table (the Charity) for the year ¢nded 31 Dectmber 2022 which are set out on pages 6 to 10. Responsibilitie8 and basis of rnport As the Charity's truste&8 you are resp)nsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act.). I report in respect of my examination of the Charity's a￿nts carried out under section 145 of the 2011 Act and in carrying out my examination I have follow¢d all th¢ applt¢able Directions given by the Charity Commission under sedion 145(5Xb) of the ACL Independent examine￿5 statement I have completed my examination. I confirni that no material matters have corne to my attention in connection with the examination giving me cause to believe that in any material respect: l. accounting records were noi kept in respect of the Charity &5 required by section 130 of the ACL or 2. the accounts do not accord with those records. or 3. the accounts do not comply with the applicable requirements concerning the forni and content of accounts 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 conSide￿d as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper undustanding of the accounts to be rwhed. Stephen Hale FCA FCCA Perrys Audit Limited Chartered Aeeount9nts Churchdown Chambers Bordyke Tonbridge TN9 INR Date: HONOURABLE SOCIETY OF KNIGITfs OF THE ROUND TABLE BENEVOLENT FUND ATEMEwf OF FINANCIAL ACTIVITIES For the year ended 31 Deeember 2022 Unrestricted Restrirted Fund Fund I 2022 2022 Total Unrestricted Fund 2021 2022 Note INCOME AND ENDOWMENfs FROM Donations and Legacies Investh]ents TOTAL 35232 7,758 41990 35.232 7.758 42.990 43,9(K) 7.485 51,385 EXPENDITURE ON Charitable Activities (3) 59,722 (500) 59.222 44,827 TOTAL 59,722 (5(M)) 59222 44.827 (16,732) 51KI (16,232) 6.558 Net Gainsl(Losses) on Investments (4J) (27.644) (27.644) 30,778 Net Ineomel{ExpeDdi¢ure) (44J76) 5tx) (43.876) 37.336 Net Movement ID Funds (44,376) 5tK) (43.876) 37,336 Reconciliation of FuDd&" Totsj Funds brought fonvard 224.903 4.500 229,403 192.067 Total Funds e•rried forward (8) £180,527 £5,000 £185,527 £229,403 The notes on pages 8 tolo forn] part of these Financial Statements. HONOURABLE SOCIETY OF KNICHTS OF THE ROUND TABLE BENEVOLENT FUND BALANCE SHEET At 31 Dettmber 2022 Unrestricted Reslricled Fund Fund I 2022 2022 Total Unrestrietedl Total Funds 2021 2022 Note INVESTMENrs {4A9) 214.725 214,725 251369 CURRENT ASSETS: Cash at Bank and in Hand Debtors T&x recoverable 8,980 13.699 2,648 25.327 13,980 13,699 2.648 30J27 (0 17.875 12,537 1,232 31,644 CREDITORS: Amounis Falling Due Within One Year.- Creditors (7) 59.525 59.525 54.610 NET CURRENT ASSETS {34,198) (29,198) (22,966) NET ASSETS £180.527 £5.0(K) £185,527 £229.403 FUNDS Un￿strIcted Restricted Fund I TOTAL CHARITY FUNDS (8) 180.527 180.527 224.903 4.500 £229.403 £180,527 £5.0(X) £185,527 Approved by the Trus*es on ond signed on their behalf by: CPLMarke Knight Treasurer TTUStee DHA Jones FRCS Deputy Kni¥Jt Pr&qident Th¢ notes on pages 8 tolo fomi part of these Financial Stateme HONOURABLE SOCIETY OF KNIGFTfs OF THE ROUND TABI BENEVOLENT FUIYD NOTES TO THE FINANCIAL STATEMEI¥TS For the year ended 31 Deeember 2021 I. ACCOUNTING POLICIES (i) Basis of preparation and assessment of going concern The financial statanents have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial RepK)rting Standard applicablc in the UK and Republic of Ireland {FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicablc in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. The t￿￿¢¢5 consider that there are no material uncertainties a￿ut Tn￿'S ability to ￿)ntInU¢ &$ a going concern - see also Note 10. (li) Ineome tax The Benevolent Fund 15 abk ￿ recover income tax on gift aid donation& Credit is laken for incom¢ t&x recoverable tn the year in which it is due. (iii) Income recognition Income is recognised once the charity has entitlement to th¢ incon￿, it is probable that the incom¢ will received and tIK an￿nI of income can ￿ tncasured reliably. (ivl Expenditure reeognition Liabilities are rccognis¢d as expenditure as s(M)n as there is a legal or constructive obligation committing lh¢ Fund to that expenditure, it is probable that settlement will be required and the amount of obligaiion can ￿ measured reliably. (v) Allocation of governance costs Governance costs have Lwi aJl(Kated to charitsbl¢ activities in full. (vi) Charitable Vdetivities Charitable activities include grants mad@ costs of the dinner for recipients of the awards 8nd govemance costs. (vii) Realised gains and loss All gains and losses are taken to thc Staicments of Financial Activities (SOFA) as tlw arise. R¢alis¢d gains and losses on investments are calculated as the differen￿ between sales pr(￿eedS and their openin8 carrying value or purchas¢ valuc. Unffslised gains and losses are calculated as the difference betwcen the fair value at the year end and their carrying Val￿ Reali%d and unrealised investment gains and losses are combined in th¢ SOFA. 2. TRUSTEES, REMUNERATION AND EXPENSES Trust¢¢s receive no r¢muncration or expenses for their services. 3. ANALYSIS OF CHARITABLE AcfiviTIES Unrutrieled Restricted Fund Fund I 2022 2022 Total Total 2022 2021 Dinner guests Awards - general Independent exaininerfs fee 3,947 55.250 525 £59.722 3.947 54.750 525 £59.222 1.820 415￿) 507 £44.827 (51)0) (£500) HONOURABLE SOCIETY OF KNIGHTS OF THE ROUND TABLE BENEVOLENT FUND NOTES TO THE FINANCIAL STATENIEIYTS COIWD For the year ended 31 D¢eembcr 2022 4. RKCONCILIATION OF MARK￿ VALUE OF INVESTME￿ Unrestricted Fund 2022 Unrestrlcted Fund 2021 Majket value of invthnents at l January 2022 Additions Disposals Realised Gains Unttalised (lossesygains 252,369 226.590 198,401 (203.401 > 13.586 17.193 (10,000) 162 (27.806) Market value of investsna)ts at 31 December 2022 £214,725 £252.369 RECONCILIATION OF GAINSI(LOSSES) ON INVESTMENTS Unrutri¢ted Fund 2022 Unrestricted Fund 2021 Unreaiised gains Realised gaitL8 Total net gains (27,806) 162 (£27.644) 17,192 13,586 £30.778 6. DEBTORS Uttrestrfeled Fund 2022 Unrestrleted Fund 2021 Awards paid in advance Amount due from Limited Company 8,500 5.199 £13.699 10.000 2.537 £12.537 7. CREDITORS Unrestritt Fund 2022 Unrestrieted Fund 2021 Sunthy 58,750 775 £59.525 53.750 860 £54.610 & ANALYSIS OF FUND MOVEMENTS Unreslrletec R￿r￿trd Fund Fund I 2022 2022 Total Total 2022 2021 Balance at l January 2022 Income Expenditure Gains Balance at 31 DeL￿ber 2022 224.903 42,990 (59,722) (27.644) £180.527 4,500 229.403 42,990 (59222) (27.644) £5,000 £185,527 192,067 51.385 (44.827) 30.778 £229,403 500 Restrithd Fund I was created for HMS Dasher to aid their with young pwle. io HOIYOURABLE SOCIETY OF KNIGHTS OF THE ROUND TABLK BENEVOLENT FUND NOTLS TO THE FINANCIAL STATEMEwfs CONTD For the year ended 31 December 2022 , 8. ANALYSIS OF FUND MOVEMENTS CONTINUED Comparatives 2021 Unre5trieted Restricted Fund Fund I 2021 2021 Total 2021 Balance at l January 2021 Income Expenditure (LossesyGains Balanc¢ at 311)ecember 2021 188.067 51,385 (45,327) 30.778 £224.￿3 192.067 51,385 (44.827) 30.778 £229,403 500 £4.500 9. SCHEDULE OF INVESTMENrs UDrestritted Fund SAles in Year Units Cost Holdings at 1.122 Units Holdings at 31.12.22 Units Cost marI￿t Value Ineome COIF Charities Ethical Investment Fund income units 67.316 198.401 (3.338) (9,838) 63,978 188.563 175.351 5,534 M&G Charifund incom¢ units 1679 30,IMM) 2,679 30.000 39,374 2,224 Total £228.401 (9.838) £218.563 £214,725 £7.758 10. GOING CONCERN In asse&sing th¢ Fund's ability to continue as a going concern, th¢ Trustces hav¢ considered its liquidity position. The Fund a significant investment portfolio to draw upon. which would be available to meet its cash flow requirements. For this re&wn. the Trustees beli¢ve it is appropriate io continue to adopt the gotng concern basis in preparing these accounts.