2020-09-30-accounts - Guards' Chapel Trust

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	Page
Legal and administrative information
Report of the trustees	2
Independent examinees report	6
Statement of financial activities
Balance sheet	8
Statement of Cash Flows	9
Notes to the financial statements	10

Trustees	Major General B J Bathurst CBE
	Major General C J Ghika CBE (appointed 15 November 2019)
	Colonel C A Lockhart MBE
	Lieutenant Colonel S G Soskin
	Lieutenant Colonel G C G R Stone
	DS SChichester Esq (appointed 13 November2019)
	James Campbell Johnston (appointed 18 February 2021)
Charity number	238694
Address	Horse Guards
	Whitehall
	London
	SW1A 2AX
Independent examiner	Cara Turlington FCA DChA
	Saffery Champness LLP
	71 Queen Victoria Street
	London
	EC4V4BE
Bankers	Lloyds TSB Bank Pic
	Guards & Cavalry Branch
	7 Pall Mall
	London
	SW1Y SNA
Solicitors	Wilsons
	4 Lincoln's Inn Fields
	London
	WC2A 3AA

9 July 2021

		Unrestricted	Restricted	Total	Total
		2020	2020	2020	2019
Income	Note	£	£	£	£
Donations Charitable activities	3 4	75,375 54,331	449,100	54,331	604,142 68,034
	5	19,537		19,537	25,341
resources		502		503	593
Total ¡		149,745	449,100	598,845	698,110
Expenditure
Raising funds Charitable activities	6	3,926 171,726		3,926	94,310 167,005
Total expenditure		175,652	16,403
Net (outgoing)/ incoming
resources before movements
on investments		(25,907)	432,697	406,790	436,795
(Losses)/Gains on investment		(68,708)		(68,708)
Net movement in funds		(94,615)	432,697	338,082
					467,262
Reconciliation of Funds
Total funds brought forward at 1 October 2019		1,221,638		1,809,587	1,342,325
Total funds carried forward at 30 September 2020		1,127,023	1,020,646	2,147,669	1,809,587

		2020	2020	2019	2019
	Notes	£	£	£	£
Fixed assets
Tangible fixed assets Investments	8 9		135,653 842,258		141,317 910,898
			977,911		1,052,215
Current assets
Stock Debtors	10	6,178		5.696
Accrued income Cash at bank	11	5,473 1,160,837		10,388 744,245
		1,172,488		760,329
Current liabilities
Creditors	12	2,730
				2,957
		2,730
				2,957
Net current assets			1,169,758		757,372
Net assets			2,147,669		1,809,587
Unrestricted funds Restricted funds	13Д4 13Д4		1,127,023 1,020,646		1,221,638 587,949
Total funds			2,147,669		1,809,587
Approved by trustees on	*L (h*	2021
Trustee

Statement of cash flows		2020	2019
		£	£
Net cash provided by operating activities		379,558	423,565
Cash flows from investing activities
Investment income Purchases of investments Disposal proceeds from investments Purchase of tangible fixed assets Net cash provided by/ (used in) investing activities		19,537 (116.773) 150,939 (16,669) 37,034	25,341 (181,648) 173,388 (52,657) (35,576)
Change in cash and cash equivalents in the
year Cash and cash equivalents at 1 October Cash and cash equivalents at 30 September		416,592 744.245 1,160,837	387,989 356,256 744,245
Reconciliation of net income to net cash flow
from operating activities
Net income for the reporting period as per
the statement of financial activities			467,262
Adjustments for:
Depreciation charges Unrealised investmer Investment income Decrease/(lncrease) in debtors (Oecrease)/increa$e in creditors (lncrease)/Decrease in stock		34,474 (19,537) 4,915 (227) (482)	9Д69 (22,207) (25,341) (2,041) (4,492) 1,215
Net cash provided by operating activities		379.SS8	423,565
Cash and cash equivalents	At 1		At 30
	October	Movement	September
	2019	in year	2020
	£	£	£
Cash at bank	744,245	416,592	1,160,837

Donations
	Unrestricted	Restricted	Total	Total
	2020	2020	2020	2019
Donations collections & grants Donations - Friends of the Guards Chapel	£	£ 449,100	£ 498,971 5,926	£ 579,645
Donations for kneelers and plaques Wages in kind			4,872 14,706	4,492
	75,375	449,100	524,475	604.142

Charitable Activities
	Unrestricted	Restricted	Total	Total
	2020	2020	2020	2019
	£	£	£	£
Grants and donations	12,753			12,979
Organ project costs		16,403
Organist and choir	86,986		89,986
Staff pay and Chaplain’s expenses	700		700
Wages in kind	14,706
Flowers and candles			4,976
Kneelers and plaques	9Д67		9Д67	5,244
Cushions	1,398
Books printing, stationery & postage	8,562
Insurance	1,638
Maintenance and depreciation
Admin and IT	1,782
Accountancy	2,960
Committee costs	187		187	118
	171,726	16.403	188Д29	167,005

Tangible Fixed Assets
	Embellishment of	Book of	Memorial
		Remembrance	Bookcase
	£	£	£
Cost at 1 October 2019 Additions	74,407	3,472	1,612
Cost at 30 September 2020	74,407	3,472	1,612
Depreciation at 1 October 2019
Current year depreciation charge
Total depreciation at 30 September 2020
Net Book Value at 30 September 2020	74,407	3,472	1,612
Net Book Value at 30 September 2019	74,407	3,472	1,612
	Sound	Choir Robes,
	System	Furniture and	2020
			Total
	£	£	£
Cost at 1 October 2019	52,657	36,676	168,824
Additions	16,669
			16,669
Cost at 30 September 2020	69,326	36,676
			185.493
Depreciation at 1 October 2019		27,507
Current year depreciation charge	13,164
			22,333
Total depreciation at 30 September 2020	13,164	36,676
Net Book Value at 30 September 2020	56,162		135,653
Net Book Value at 30 September 2019	52,657	9Д69	141,317

Investments
	2020	2019
Market value at 1 October 2019 Additions Disposals (Losses)/ Gains on investments Cash movement	£ 910,898 116,773 (150,939) (68,708)	£ 880,431 181,648 (173.388) 30,467 (8.260)
Market value at 30 September 2020		910,898
	2020	2019
UK Government Bonds UK Fixed interest securities Overseas Fixed interest securities UK Equity shares Overseas Equity shares Other	£ 36,218 62,308 16,425 281,785 310,236 89,719	£ 30,191 64,237 15,898 417,273 311,531 60,435
Cash	796,691 45,567	899.565 11,333
Market value at 30 September 2020	842.258	910,898

12.	Creditors
		Unrestricted		Unrestricted
			2020	2019
	Accruals Other creditors		£ 2.730	£ 2.500 457
			2,730	2,957
13.	Net assets by fund
	2020
		Unrestricted	Restricted	Total
	Tangible fixed assets Investments Stock Debtors Cash at bank Creditors	842,258 6,178 140,191 (2,730)	1,020,646	135,653 842,258 6,178 5,473 1,160,837 (2,730)
	Total	1,127,023	1,020,646
	2019
		Unrestricted	Restricted	Total
	Tangible fixed assets Investments Stock Debtors Cash at bank Creditors	141,317 910,898 5,696 10,388 156.296 (2,957)	587,949	141,317 910,898 5,696 10,388 744,245 (2,957)
	Total	1,221,638	587,949	1,809,587

	1 Octo	Incoming	Resources	Loss on	30
	019	resources	expended	investments	September
					2020
Unrestricted fund Restricted fund	1,221,638 587,949	149,745 449Д00	(175.652) (1M03)	(68,708)	1,127,023 1,020,646
Total	1,809,587		(192,055)	(68,708)	2,147,669
	1 October	Incoming	Resources	Gain on	30
	2018	resources	expended	investments	September
					2019
Unrestricted fund Restricted fund	1,040,911 301,414	319,230 378,880	(168,970) (92,345)	30.467	1,221,638 587,949
Total	1,342,325	698,110	(261,315)	30,467	1,809,587

		Unrestricted	Restricted	Total
		2019	2019	2019
Income	Note	£	£	£
Donations Charitable activities Investment income Other incoming resources	3 4 5	225,262 68,034 25,341 593	378.880	579,642 68,034 25,341 593
		319,230	378,880	698,110
Expenditure
Raising funds Charitable activities	6	1,965 167,005	92,345	94,310 167,005
Total expenditure		168,970	92,345	261,315
Net (outgoing)/incoming resources before
gains on investments		150,260	286,535	436,795
Gains on investment		30,467		30,467
Neti		180,727	286,535	467,262
Net movement in funds		180,727	286,535	436,795
Reconciliation of Funds
Total funds brought forward at 1 October 2018		1,040,911	301,414	1,342,325
Total funds carried forward at 30 September 2019		1,221,638	587,949	1,809,587