Edinbur h Trust No 2 Aecount General Educational and Milita Chari Trustees. Re ort & Accounts Chari Number 227897 Year Ended 5 A ril 2021 th TntsiNo 2AccotsAt- ChttpytyNunrber227897 (Genepal. Edu¢otiofvalotydMililary ch￿rity) rnLFtKF'ReportaF￿AcCOunts SApri1202J TRUSTEES, REPORT & AccouNrs Content5 Legal and Administrative Inforniation Trustees, R¢port Ststement of TTUStees' Responsibilities tndependent Auditovs Report to the Tn￿te￿ of Fjinburgh Trust No 2 Account Stat¢m¢nl of Financial Activities Balance Sheet 10 Notes 11-16 Edinknylr TnLftNd 2AccotsnE- CharityNwuber227897 (G¢neiol. EdM¢otiofvqlondMililary Charity) Tnu1£￿,RePtsrt andAccounrJ 5 April 2021 LEGAL AND ADMINISTRATIVE INFORMATION Legal and administrative d¢tsils of the chatity aTe set out below: Charfity Address Until 31° October 2021- Buckingham Palace London, SWIA IAA From 3151 Octob¢r 2021: Bagshot Park BagshoL su￿¢Y. GU19 SPL Trustees Brigadier Archie Miller-Bak¢w¢ll George Hewson Matthew Moss MVO Captain Andrcw Mark Astmjen RN (from 15 S¢pt¢rnbcT 2021) Registered Charity Number 227897 Bankers Coutts & Co. 440 The Strnnd London WC2R OQS Investment Managers Cazenove Capital MAnag¢m¢nt Schrod¢r & Co. Limited 12 Moorgate London EC2R 6DA Auditor Kreston Reeves LLP Second Floor. 168 Shoreditch High Street London EI 6RA So]icitDrs Farrer & Co. 66 Lincoln's Inn Fields IA)ndon WC2A 3LH Edin1•￿￿h Tn£rfNo 2Accorinl. CknrityNupnber227897 (Genernl, Educationolundmilrtary Chariry) Tn£¥Ee￿'RÈPtr1I ttAdA¢¢ounl 5 Apri1202J TRUSTEES, REPORT The Tn￿te¢S pres¢nt th¢iT report with the audited financial statement of tbe TnLSt for th¢ y¢ar ¢nd¢d 5th April 2021. The financial stat¢m¢nts have been prepared on the accounting p)licies sel oul in nofr I to th¢ financial statements and comply with the Tn￿.5 In￿t the Charities Act 2011 and Accounting and R¢porting by ChArities- Statement of Recommended Prdctice applicable to charities preparing th¢ir accounts in accordanc¢ with th¢ Financial Reporting Standard applicable in the UK and R¢publir of Ircland published in October 2019. Th¢ information on Page I forms part of this report. Structure, Governance and Management The Edinburgh Trnst No 2 Accowit wa5 established by deed and registered with the Charity Commission on 18th S¢ptember 1959. The Tr￿SteeS m¢et regularly during th¢ y¢ar lo oversee the management of the Trust and to approve the donations mad¢. Admini5trativc 5UPPOrt is provide¢l without charge, by the Office of HRH The Duk¢ of Edinburgh until 3151 Octob¢r 2021. Aft¢r this (tst¢. #thninistrative support will be provided. without charge, by the Office of TRH The Earl Count¢55 of W¢s5cx. Th¢ Tr￿sleeS in office at the date of this report are set out on Page l. they were appointed by HRH Th¢ Dukc of Edinburgh until P April 2021 and after this date by HRH The Earl of We&s¢x' th¢y r¢¢¢iv¢ no ranuneration for their services. The Tn￿leeS seek professional advice as required to ensure that ihey aT¢ pr￿rIY bri¢f¢d with Tegard to current developments. As part of a review of ri8k management, the TnLStees hAv¢ id¢ntifid th¢riskstowhich the Trust is exwsed and have ensured that appropriAI¢ systems and ￿ntrOl$ are in place to mitigate the significant risks wbicb are reviewed regularly. Objectives and A¢tlvltles Th¢ Tnist siipports general charitsble PUTposes. how¢ver ¢￿h y¢8r a prowrtion of the income is applted for the promolion and advancement of ¢du¢ation of th¢ ¢ffici¢ncy of the Arnied Services of ihe Crown. To this en income is appliedby making grants and Awarding prizes of scholarships andbursaries for successful achievem¢nts in the field of educatioll and by awardÉng priz¢s and trophies for competitions and &ctivities which increase th¢ ¢fficiency of the Arnied For¢¢s of th¢ Crown. Thc aim 15 to benefit as many charities as ￿ssIble within th¢ limitatlODS of available resour￿. Achievements and Perfonnan¢e The Trust's income consists of donat￿ and investment income. In line with the objectives outlin¢d above, the Trustees have made grants and distributions as Analy5¢d in Note 3 to the financial ststements. Public Benefit The Tn￿t'S aim is to make grants to th¢ public ￿ncrIt in the following areas: general charitable purpos¢s. development of educational expedition research projects and support to th¢ Arnied Services of the Crown. As part of their role. the Ttuslees ensure that there is a wid¢ s¢op¢ of public b¢ncfit within the activilies of the Trusl and that there is a fair and equitable grant process. The TT￿ste¢s havc ￿vI¢W¢d the Trnst's objectives, activities and achievements for the year under review and are satisfi¢d that the Edinburgh Trusl No2 Account has complied with the requirements of public benefit r¢￿rtIllE LS S¢t out in the Charity Commission's Genernl Guidance on Public Benefit. Flnancial Review uring the year donatio￿ received increased frotn £1 1.599 to £1 1.926. However, dividends and interest has Teduced from £92,630 to £72,636. N¢t inwmiTLg resources amounted to £84.562 (2020.. £104,229). Charit2bl¢ distributions for the year amount￿ to £95.177 (2020.. £J28.959) leaving a deficil of £32.955 (2020.. £46,5JO) after deduction of adjustments and administrative expen5¢5. Total fwids at 5th ApTiI 2021, combining tbe d¢si￿ated and general amounted to £4.010.593 (2020.. £3. 103.890). Edinburgh Tr￿1 No 2AccowJl- CharityN4mber227897 (General. EdJwEiofvqlandMililary Charity) TnLFte£F'Reporl andAccounts 5 Apn12021 TRUSTEES? REPORT (continued) Investment Policy Th¢ deed of settlcm¢nt daied 7th August 1959 grants to the Tn￿te¢S the powcr5 to invest the Tn￿t'S funds. The Ttijstees have appotnt¢d CJz¢nove Capital Management at Schroder & Co. BAnk AG Limited as the investment advisers. Th¢ investmenl objective is to obtain a balance b¢twwi ¢apital and income return andto achieve income growth to ¢nable the Tn￿t lo maintain th¢ real valu¢ of its 8Thnual donations. The portfolio of inv¢stm¢nts {including cash held by the investment Tn8nagcT5) had a value of £4.017.124 (2020.. £3.079.040) at the year end, compared with a cost of £2.994.210 (2020.. £3.003.455). Reserves The Tn￿te¢S have d¢teTmined a policy for the building up of the Tn￿t'S investment portfolio in order to ensure that inv¢stm¢nt income. the principal source of the TnLSt's in¢om¢. is ￿aIntaIned in real iernis. This is achi¢v¢d through r¢alis¢d and unrealised investment gains b¢ing held in a S¢PaTalely DeS1￿￿ted Fund tog¢th¢r with occasional transfers from the General F￿d. A baian¢¢ is retsined in the General Fund equivalent to approximat¢ly two years. distributions to p¢rniit additional grants to be made if needs arise. tn accordan¢¢ with this policy, free reserves ITh the General Fund at 5th April 2021 amounted to £257.318 (2020.. £267.933). Plans for Future Perlods The TYust¢¢s intend to continue the current activiti&s of th¢ Trust for at I￿St 12 months from the date of signing the accounls. As a result of the ongoing COVID-19 pandcTnic, the Trustees have considered their ability to meet any obligations and discretionary spend ov¢r th¢ next 17 months. It is considered that free reserves are sufficicnily high to meet curreni levels of expenditur¢. without any incom4 for approximately 34 years. As donations are discretionary. th¢ Trnstees ¢ould decid¢ to reduce or Pa￿ activities. pmlonging the longevity of free reserves. Dls¢losure of Infomation to Auditor So far as ¢ach of the T￿￿teeS who have approved th¢ ffport aff owar¢. there is no Televant audit infomiation of which the charity's auditors are unawaTe. Th¢ TnLSt¢¢s hAV¢ takcn all steps that they ought to have taken to mak¢ themselves aware of any relevant audit infOrn￿tiOn andio establish thal the auditors are awaff of thai inforniation. Auditor The TnLSt's Auditor. Kr¢ston Reeves LLP. was appointed in Marcb 2021. Approved by QTdeT of the members of the board of Tn￿te¢S and signed on their behalf on22ndNovember 2021 by- Brigadier Archie Miller-Bakewell Tr￿¥tee George Hewson Trt¢stee Matthew Mos$ MVO ndrew Mark Aspden RN Tn￿lee Edwiwrgh TnuiNo 2Accorint. CharityNumber 227897 (G￿, Edricaironalandmiliiory Charity) Th&¥Eees'ReportrtndA¢¢ourtts 5 April 2021 STATEMENT OF TRUSTEES, RESPONSIBILITIES IN RESPEcf OF THE TRUSTEES, REPORT AND THE FINANCIAL STATEMENTS Under the lThst deed of the charity and ¢hATity law. th¢ are reSP)nsi￿le for preparing the Trustees, Report and the fJnan¢ial stat¢m¢nts in accordance with applicable law and Tegulations. The tsustees have ¢l¢¢ted to Prepare the financial statements in tt¢¢ordAn¢¢ with UK Accounting Standards. including Section IA of FRS 102. The Financial Reporling Siandardapplicable in ihe UKdndRepublie oflrelan The financial statements are requir¢d by law to giv¢ a tru¢ and fair view of the state of affairs of the charity and of the excess of income over expenditur¢ for that p¢riod. In preparing these fmanciai stat¢m¢nts, g¢n¢rally #¢¢cpted accounting practice entails that the trustees.. select suitable accounting policies and apply them consislenily? mak¢ judgements and estimth that are reasonable and prudent. stale whether applicable UK A￿OUntIng Standards and th¢ Stat¢ment of Recommended Prathice have been followed, subject to any n￿teri￿ depattr¢s dis¢los¢d and explain￿ in the financial statements" state whether the finan¢ial stst¢m¢nts ￿MplY with the1n￿t deeil subjectto any material departures disclosed and explained in th¢ financial ￿atements. and assess the chtiTity'S ability to continue as a going concern. disclosin& &$ applicable. matt¢rs r¢lat¢d to going concern. and us¢ the going concern basis of accounting UD]e&s they either intmd to liquidat¢ the ¢haTity or to cease op¢r8tions. OT hav¢ no Tealistic alternative but to do so. The trust¢¢s arc r¢quired to act in accordance with the ITUSt deed of the charity, within the framework of trust law. They are responsibl¢ for k¢¢ping PTop¢r accounting records. sufficient to disclose at any time, with r¢asonable a¢¢urn¢y. th¢ financial position of ihe charity at that lime, and to enable the tnJste¢s to ensu￿ that, wh¢re any statements of a¢¢ountS Ar¢ prcpar¢d by them under section 132(1) of the Cbarities Act 2011. thos¢ stat¢m¢nts of accounts comply with th¢ T¢quir¢mcnts of ￿gulatiOnS under thai provision. They are responsible for such internal control as they d¢t¢rniinc is n￿eSsary to enable the preparation of financial statements that 2r¢ fr¢¢ from matcrial misstatement, wh¢th¢r du¢ to fraudor error. and have general responsibility fortaking such st¢ps as ar¢ ￿8$onablY op¢n to th¢m to saleguard the assets of the charity and to prevent and detect fraud and oth¢r irr¢gulatities. INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE EDINBURGH TRUST NO 2 ACCOUNT GENERAL EDUCATIONAL AND MILITARY CHARIT Oplnlon We have audit¢d the financial statements of Edinburgh TnLSt No 2 A¢¢owil (Ihe'charity) for ihe year ended 31 March 2021 which comprise ihe Statement of financial activitics, the balance sheet and th¢ T¢lat¢d notes, including a sWnm￿ of significant accounting poli¢i¢s. Th¢ financial reporting framework that has b¢¢n applied in their preparation is applicable law and Unitcd kn"ngdom Accounting Standards, in¢ludi¥Lg Financial Reporting Stsndard 102'The Financial RepoTting Standard applicable in the UK alld R¢publi¢ of Ircland, (United Kingdom Generally Accepted Ac¢ounting Practice). The financial statements h2v¢ b¢¢n prepared in accorknce with A¢￿￿nting and Reporting by Charities preparing their a¢counts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and R¢porting by Charities". Statement of R¢¢ommcnded Practice issued on l April 2005 which is rcfctred to in the extant regulations but has been withdrawn. This has been done in order for th¢ a¢¢ounts to provide a true and fair view in aC￿rd￿nCe with generally Accepted Accounting Practice ¢ffective for reporting periods beginning on or #ftcr l January 2015. In our opinion the financial statements: Give atrue and fairvi¢w ofth¢ 51at¢ ofthe charity's affairs as at 5 April 2021 ond its incomingTesouTces and application of r¢sour¢¢s for the year ended; have been properly prepared in a¢¢ordanc¢ with United Kingdom Generally A¢¢¢pted Accounting Practice- and Hav¢ b¢¢n properly prepar￿ in accordance with the requir¢m¢nts of the Charities Act 2011. Basis for opinion We conductcd our audit in accordance with Int¢n]Ational Stsndard5 on Auditing IUK) (ISAS IUK)) and applicable law. Our responsibilities under those standards are fiwthw dcscribed in the Auditors, responsibilities for the audit of ihe financial statements section of our r¢port. Wc are independent of the charity in accordan¢¢ with the ethical requiremenls that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulftlled our oth¢r ¢thic81 responsibilities in accordance with thes¢ T¢qUiTements. We believe that the audit ¢vid¢n¢¢ wc have obtained is sufficient and appropriate to provid¢ a basis foT our opinion. ConelusioD5 relating to going CODeerD In auditing the financial statements, w¢ have concluded ihat the Tn￿ees, use of th¢ going concern basis of accounting in the preparation of th¢ financial statements is appropriate. Bas¢d on th¢ work we have perfonne4 we have not identified any Tnatcrial uncertainties relating to events or conditions thaL individually or collectively. may CLSt significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements ar¢ aUthoriS￿ for issue. Our responsibilities and th¢ r￿￿￿sIbIlitieS of the Trustees with respect to going ￿ncern are described in the relevant sections of this report. Other Infonnadon The other inforniation compris¢s the inf{￿MatiOn included in the annual rewrt other than tbe financial stAtement$ and our auditors, r¢port thcr¢on. The TTUStees are responsible for the other inforn]ation contained within th¢ annual report. Our opinion on the financial statements does not cover the other inforniation and. except to th¢ extent otherwis¢ ¢xplicitly ststed in OUT reporL we do not expre&s any forn) of assurance conclusion thereon. Our responsibility t$ to r¢ad thc other inforniation in doing so. consider whether the other inforniation ts materi211y inconsistcnt with the financial statements. or our knowledge obtained in th¢ COU￿ of the audit. or oth¢rwise appeaT5 to be rnaterially misststed. If we identify such material inconsistencies or kPPttT¢nt material misstatements. w¢ aff r¢quired to deterniine whether this gives rise to a material misstatement in th¢ financial statements th¢ms¢lves. If, b￿ed on the work we have perfO￿ed, we conclud¢ that th¢r¢ is a malcrial misstat¢m¢nt of thi5 other inforn)al1o￿ we are required to report that fact. We have nothing to r¢wrt in this r¢gJTIL Matters on wbieh we are requlred to report by ei¢¢ptlon Underthe Charities Act 2011 w¢ a￿ rwird to rwrtto you if. in ouropiDiOn'. the inforn￿tIOn giv¢n in th¢ TTUSt¢es' rq>ort is inconsistent in any material respect with the fman¢ial statements. or the charity has not kept sufficient accounting records. or the financial stat¢m¢nts are not in w¢ement with the accounting records" or * w¢ have not received all the infom]ation and explanations we require forouraudit. W¢ have nothing to report in th￿¢ Tespecls. Resp•n$lbilitie5 of trustees As cxplained more fully in the lrnslees. reswnsibilities statement, the TnJst¢¢s ar¢ responsible for the preparalion of the financial thiements which give a tDJe and fair view, and for such internal COTLtrol as the TrU￿e¢S d￿erMIne is necessary to enable the PTepaTation of financial ststements that AT¢ fr¢¢ from material misstatemenL whether duc to fraud or ￿Tor. In preparing th¢ financial statements, the TrU￿eeS are Tesponsible for &wsing th¢ ¢htiTity's ability to continue as a going conccrn, disclosin& as applicable. matters related to going concern and using th¢ going conccrn basis of a¢¢ounling unless the Truslees either intend to liquidate the charity or to cease 0[￿tions. or have no realislic alternative but to do so. Audltor$' responsibilities for the audit of the financial statements We have been appointed as auditOT undeT section 145 of the C￿￿TItieS Act 20112ndr¢port in a¢¢ordan¢e with the Act and r¢l¢vant ￿gUlationS made or having effect thereuDder. Our obj¢¢tives are to obtsin reasonable assuTance aFM)ut whetherthe financial stat¢m¢nts as a whol¢ MTe free from mat¢rial ￿]sstatement, whdher due to fraud or error. and to issue an auditors, report that includ¢s our opinion. R¢asonabl¢ a55UTance is a high level of assurance but is not a guaTantee that an alldit ¢onduct¢d in ac¢oTdance with ISAS (UK) will always detect a matrrial misstatement when it exists. Misstatements can arisc from fraud or ettor and are considered material if. individually or in the aggregate. they ¢ould r¢asonably be expected io influence the economic decisions of users taken on the basis of financial stst¢ments. Irregularities. including frau(t are instanc¢s of non-compliance with laws and regulations. We dest￿ procedures in line with our responsibilities. outlined abo￿. to detect material mi&statements in ￿SpeCt of ir￿gUlaritIeS, including fraud. The extent to whi¢h our pr{KedUr￿ are capable of detecting irregularitic5, including fraud is detailed below.. Capability ofihe audit in detecting irregulariiia. includingfraud Based on our understanding of th¢ charity aTMJ the sector as a whole, and through dis¢ussion wTth the Truslees and oiher management (&$ required by &uditing 5thndards), we identified that th¢ principal risks of non- compliance with laws and r¢gulations ￿lated to health and safety. anti-brib¢ry and emplo)rynent law. We considered the extent to whirh non-compliance mighi have a material effe¢t on the financial statements. We also considered those laws and Tcgulations that have a direct impact on the pr¢pAratiOTk ofth¢ financial statements such as the Chariti¢s SORP (FRS 102) Second Edition (released Octob¢r 2019), and other relevant charity legislation. W¢ communicatcd identified laws and regulations throughout our tcam and remained alert to any indi¢ation$ of non-COTnpliance ihroughout the audit. We evaluat￿ Tn￿te¢s, Ènd management's incentives and opportunitTCS for fraudulent manipulation of the financial slat¢menls (including the risk of override of ¢ontrols) and detemiined that the principal risks r¢lated posting inappropriate journal entries to incrx8¢ revenue OT reduce expendilure. Audit procedures perfomi¢d by the cngagement team included: Discussions with management at)d &ss¢ssm¢nt of known or slls￿ed Instances of non-complionce with laws and regulations (including h¢o1th and 5af¢ty) and fraud, and review of thc rcports made by management and intCTnal audil. and Assessmcnt of identified fraud risk factors. and Review of cash exp¢nditur¢ to confinn no evidence of personal benefit. and P¢rforming analytical procedures to identify any unusual or unexpected relationships. in¢luding ￿lAted paty trans&¢tions. Ihat may indicate risks of material misstat¢Tn¢nt due to fraud,. and Confirn)ation of ￿lated partie5 with management, and review of transactions thToughout the period to identify any prniously undisclosed transactions with related parties outside the normal course of business., and Reading minutes of meetings of thos¢ Chxrged with governance. reviewing internal audit reports and reviewing correspondence with r¢l¢vant tsx and Tegulatory authorities. and Identifying and testing journal entries. in particular Ally manual entries made at the year end frtr financial stal¢m¢nt preparation. Because of the inherent limitations of an audit, there is a risk that we will not det¢¢t all irr¢gularilies, including those leading to a material mi&stat¢m¢nt in thc financial statements or non4ompliance with regulation. This risk increases the more that complian¢¢ with o law or Tegulation is removed from the events and transactions reflected in the financial stat¢m¢nls. as we will be likely to become aware of Instanc￿ of non-compliance. As part of an audil in accordance with ISAS (UK). w¢ ¢x¢rcis¢ professio1￿ judgment and maintain professional s¢¢pli¢ism throughout the audit. We also: Identify and ass¢55 the risks of material misstatement of the f]non¢ial Statements, whether due to fraud or ¢rror, d￿1g￿ and perfonn audit proceduTes responsiv¢ to thos¢ risks, and obtain audit eviden¢¢ that is suffirienl and appropriate to provide a basis for our opinion. The risk of not detecting a material misstafrment resulting from fraud is highcr than for one resulting from error, as fraud may involve collusion. forgery. intentional omi55ion& misrepresentations, or the override of internal control. Obtain an understanding of internal control Televant to the audit in ordcr to desi￿ audit procedur¢s that aY¢ appropriafr in the circumstances. but Dot for the pUry￿se of expr¢5sing an opinion of the effectiv¢n¢ss of the charitys internal control. Evaluate th¢ appropriJteness of accounting policies used and th¢ r¢ason4bl¢ness of accounting estimates and related disclosures rnade by ihe Trustees. Conclude on the appropriat¢n¢ss of th¢ Tn￿tC¢S. use of the going concern basis of a¢¢ounting and, based on the audit evidence obtained. wh¢th¢r a rnateri￿ uncertainty exists related to ¢v¢nts QT conditions ihal may cast significant doubt on thc charity5 ability to continue as a going ￿ll¢em. If we conclude ihat a material uncertainty ¢xists. we are required to draw attention in our auditors. report to the related disclosur¢s in th¢ financial statements or. if such disclosures are inadcquate, to modify our opinion. Our conclusions are based ot) th¢ audit evidence obtsined up to th¢ d&t¢ of our auditors. re￿rt. However. IUTC evenls or conditions may ¢aus¢ th¢ charity to cease to continue Ls a going concern. Evaluate the overdll presentJtiOTL sINcture and content of th¢ financial statements. it)cluding the disclosures. and wheth¢r the financial slalements represent th¢ underlying transactions and events in manner that achi¢v¢s fair presenlation. We communicale with those charged with governanceregaTding, among other matters. th¢ planned scope and timing of th¢ #udit and significanl audit findin&s, including any Si￿lFICant deficien¢i¢s in internal control that w¢ identify dwing our audit. Use Df our report This report is made solely to the charAty'$ tn]ste¢s as a Erf)dy. in accordance with s¢ction 145 of the Charities Act 2011 (or it$ pr¢d¢c¢ssoTS) and Tegulations made under section 154 of that Act. Our audit work has been undertaken so th8t we might stale to the charity's trustCC5 those rnatters we are rquired to stal¢ lo them in an auditor's r¢port and for no other pUT￿)Se. To th¢ full¢st ¢xtent peThnitted by law, w¢ do not acccpl or assume responsibility to aTLyone other than the cl)2rity and its truslees as a b(Mly. for our audit work for this report, or for the opinions w¢ have fonned. Kreston Reeves LLP Chartered A¢¢ountants Statutory Auditor London Dat¢= 23 November, 2021 Kreston Reeves LLP are eligible to act &s auditOT5 in ternis of section 1212 of the Companies Act 2006. Edurburgk TnutNo 2A¢¢owrt- Clwity NumbeT227897 (Geneml. EdNaTtionalaThlMiliiary Charity) TnLfre&¥.Rep0rta￿dA¢c0￿ryts 5April 202J STATEMENT OF FINANCIAL ACTtVlTIES FOR THE YEAR ENDED 5 APIUL 2021 Note General DesigDated Fund Fund Total 2021 General Designated Fund Fund Total 2020 Income frorn: Donations Investment Income Total Income 11926 72,636 11926 72,636 11.599 92,630 11,599 92,630 104.229 Expenditure on: Raising Funds Charitabl¢ A¢tivities- G¢n¢ral Arn)¢d Services Education Total Expenditure 22J40 22J40 21,780 21,780 57,053 35,930 57,053 35,930 85,019 40,026 85.019 40,026 95,177 22J40 I17￿17 128.959 21,780 150.739 Net (loss) I gain on investments 939,658 939,658 (495,660) (495,660) Reconciliation of Funds: Net Movement ID Fund5 10,61 917J18 906,703 24,730 517.440 542,170 Fund balan¢¢s brought fonvard 267,933 2,835,957 3.103WO 292,663 3.353.397 3,646.060 Fund balances carried forsvard 257J18 3.753,275 4010593 267.933 2.835,957 3,103.890 For the CUTrent and previous y¢aT. all activities atise from continuing operations. Th¢ff are no Tecognised gains or losses other than th¢ net movement in funds disclosed abov¢. Th¢ not¢s on p&ges I I to 16 form part of these accounts. Edinburgh TpyLttNo 2ActOuJrtr- Charity Number227897 (G￿¢*41. EduCatior￿1￿￿￿￿1I1£ary Charity) Tn￿lees'ReP0rtUxdAe￿otyThtr 5 April 2021 BALANCE SHEET AS AT 5 APIUL 2021 Note 2021 2020 Ftsed Assets Inv¢stm¢ntS 4.017,124 3.079.640 Current Assets Cash at bat]k 2nd on dqN)sit Income tax r¢¢overable 6,054 2J64 8,418 34.150 4.579 38.729 Current Llabllltfies Creditors: Amounts falling due within one year Accrnals 14,949 Net Current Assets: 531 Total Assets Less Currellt iAablll¢les 4 010 593 3 103 890 Funds G¢neral DesiBn8t¢d 257J18 3,753,275 4,010,593 267,933 2.835,957 3.103,890 The notes on pages I I to 16 form part of these accounts Approved by the TnL8t￿S on 22nd November 2021 Brigadier Archie Miller-Bakewell Trustee Y. George HeTvson Trustee Matthew Moss MVO Truslee Captain Truslee drew Mark Aspden RN io Ed￿b￿z￿ fnLflNo 2ACc0t￿l- CknrityNMmber 227897 (Gueral. EdNcationalandMililary Charity) TnL¥te￿,REpOr1QndA￿Co￿￿II 5April 2021 IYOTES (forniing part of the accounts) l Ac¢outttln Policie5 The following accounting ￿licieS have b¢¢n Applied consistently in dealing with lten￿ whi¢h 8ff considered malerial in relation to the Tnjst's accounts. Basis of Pre aration Th¢ finan¢ial stAt¢Tn¢nt5 have been prepared in accordance with the ChaTitics So1￿ (FRS 102)- Accounting and Rwrting by Charities.. Siatement of Recommend¢d Practi￿ applicable lo charities preparing th¢ir A¢¢ounts in accordance with the Financial Re￿rtIng Standard Applicable in the UK and Republic of tr¢land (FRS 102) (effective l January 2019), Finan¢io1 R¢porting Standard applicable in the UK and Republic of Ireland IFRS 102) and the Charities Act 2011. The financial statements have been prepared to give &'trv¢ and fair. view and have departed from the Charities (A¢counts and R¢ports) Regulations 2008 only to the extent required to provide a 'true and fair view.. This d¢parture has involved following the Accounting and R¢poTting by Charities.. Siatement of R¢¢omm¢nded Practice applicable to charities preparing th¢ir tt¢¢owits in accordance with the Financial Reporting Standard applicable in the UK and R¢publi¢ of I￿land effective l January 2019 rather than the Accounting and Reporting by Charities.. Statem¢nt of Recommended Practice effective from l April 2005 which ha5 since been withdrawn. Edinburgh TntstNo 2 Account meets the definition of apubli¢ b¢nefit entityunder FRS 102. Assets and liabilities ar¢ initially r¢¢ognis¢d at histOTical cost or tTansaction valu¢ unless otheTWi5e ststed in the Televant accounting policy. Goin Concern The financial stat¢m¢nts have been PTepared OD a going concern basis which the T￿￿eeS consider to be &ppropriat¢ for th¢ following reasons. Th¢ busines5 model of ihe charity is such that its ¢haTitsbl¢ activities are limited to tbose whi¢h it has suificient fi￿d5 to support from the excess of funding re¢¢ivcd over the costs of administering the ¢haTity. The charity therefore has no specific commitm¢nts and no committed costs beyond its fixed costs of operation which are detailed in note fiv¢. The Trustees hav¢ r¢vi¢wed the cash flow forecasts for a period of 17 months from the date of approval of th¢s¢ financial statemenls which indicate that the charity will hovc sufficient funds to meet its liabilities &$ they fall due for that pertod. The Trustees have also consid¢r¢d th¢ implications of COVtD-19 on thes¢ ¢ash flow forecasts and consider that as a result of its operating mo(kl ¢xplained above. even if no further fimding is re¢cived in ihe 12 monlh period. the charity has suffici¢nt cash reserves to pay all committed costs. Consequently. the Trustees are confident that the clwity will have suffi¢ient fimds to continue to m¢¢t its liabiliti¢s as they fall due. Cash Floiv A cash flow statem¢nt hLS not been prepared as the Tn￿1 is exempt from th¢ r¢quir¢ment by virtue of its size. Edinbutyh Tr￿VIN0 2 Ateount- ChGrityNumber227897 (Gertetql. Edmcoiionalandmllit￿ry Charity) TnLfteu'ReportandAccounts 5April 2112J NOTES (continued) Resources Donations are recognis¢d when the receipt is PTob&bl¢, and the amount receivable can be measured reliably. Dividends are ¢r¢dited to income on the basis of the date for pa￿ent and are gross¢d up for th¢ amount of any taxation recoverabl¢. Bank int￿¢St is Cr¢th"t￿ to income when TeceIV￿1. Resources Ex ended All outgoing resources are iti¢lud¢d in th¢ Stat¢m¢nt of Financial Activities on an acctuals basis inclusive of any irrecoverable VAT. Costs of generating fimds ¢ompris¢ thos¢ Costs dirertly atttibutable to managing the investment portfolio and raising investment incom¢. ch￿ilable donations are charged in the year in which th¢ commitment is Jnade. TAxatioD As a registered charity, th¢ Tn￿t is not in g¢n¥Yal subject to lax on its income. Investments Investmenls are slated in ihe balance sheet at the maTket value n￿Ing at the balan¢¢ 5heei date. Realised and unrealised investment gains and losses are included in th¢ Stat¢mcnl of Financial Activities. Liabilitles Liabilities are recognis¢d wh¢n a ¢onstru¢tiv¢ obligation aTise5. Funds The Tn￿tffs have determined that Toyalty income as well as realised and unrealis¢d inv¢stm¢nt gaiDS and105ses together with investment management fe￿ should be recorded in a s¢parat¢ly dcsignated fund. Trdnsfers from the general fund are made to the designated fund &$ detern]in¢d by th¢ trust¢¢s. Both the deSI￿led and general funds unrestricted. 2 Investment Income 2021 2020 Gross Dividends Bank Int¢r¢st 72,599 37 72,636 91.999 631 92.630 12 Edinbw¥h T￿￿1 No 2Actoxnt- ChorityNMmber227897 (G￿t￿l, Ekniiomlttndmilitary Chqryty) Tpwieu'Reporl (uJdAccounts 5 April 2021 NOTES (continued) 3 Chgrltable Activities During the year, 72 donations totallin£ £95.177 made to chaTities with th¢ following classification: 2021 2020 General Armed Services Education 57,053 35,930 85,019 40,026 95,177 128,959 Governance costs of £8.4￿ hav¢ been prO￿rtIonatelY included acro&s each ¢at¢gory wtthin the aFM)ve table. Below is the list of all thos¢ distribution5 of a value greater than or equal to £l.IXK) made during the year ended 5. April 2021 Charfitable Donations Arniy Cadet Force Association Artists General Benevol¢nt Fwid ATC GeneTal Purpos¢ Fund Bowles Rock Trust App¢al Braemar Mountsin R¢s¢ue British Coun¢il for Rehabilitation of the Disabled British Heart Foundation British Red Cross Society British Trust for COnse￿ation Volunt¢¢rs British Trnst for Ornithology Cameron Highland¢rs of Ottawa Fund Catch22 (fornierly Rainer) Combat Str¢ss Countysid¢ Lwning Derbyshire Old Comrades Edwina Mountbatten TnLSt Family Action (fomi¢rly FaTnily Welfare Association) Fields in Tnjst {forni¢rly National Playing Fields A&sociation) Friends of St. George Galapagos Cons¢ryation TTUSt Game & Wildlife Conservancy TnLSt Gordonstoun Foundation Grenadier Guards'B' Account Guild of Air Pilots And Novigators Highlanders Asso¢i8tion tntelligen¢¢ Corps A550cialion King Edward Vtl Hospital for Offic¢rs LEPRA Children's Account 1.000 1.250 1.000 1.000 1.000 1.000 .000 I,￿0 1,000 1.000 1.000 1.250 1.000 1,000 3.275 1.000 1.000 I,(K)O 1,000 1.000 1,000 1,000 1.000 1.000 2,750 1,000 13 EdiHbvrgh TnLfrNo 2Aecowil- CharityNumber227897 TrrtsieeJ'Report ofvdA¢¢