GUARDS, CHAPEL TRUST
TRUSTEE'S REPORT AND FINANaAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
REGISTERED CHARITY NO. 238694

GUARDS, CHAPEL TRUST
CONTENTS
Legal and administrative infomiation
Report of the trustee
Independent examinerfs report
Statement of financial activities
Balance sheet
Statement of Cash Flows
Notes to the financial statements
io

GUARDS. CHAPEL TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Further to a resolution passed on 11 December 2023 the Trustee
board resigned and the sole Trustee became the Household Division
Charity CIO Iregistered charity number 12LK)8731 with effect from 16
January 2024. The Trustees of the Household Division Charity who
served during the year are".
Major General J M H Bov￿er OBE
Brigadier M S P Bery
Lieutenant Colonel G C Light
Lieutenant Colonel C M J Foinette lappointed 5 August 20241
Lieutenant Colonel J E N B Shaw (resigned 5 August 20241
D S S Chichester Esq
J A C Campbell-johnston Esq
J B Codrington Esq (appointed 29 May 20251
Trustees of the charity serving during the period to 16 January 2024
were..
Major General J M H Bowder OBE
Brigadier Mark Simon Peter Berry
Lieutenant Colonel G C Light
Lieutenant Colonel J E N B Shaw
D S S Chichester Esq
J A C Campbell-johnston Esq
Charlty number
238694
Address
Horse Guarils
Whitehall
London
SWIA 2AX
Independent examlner
Cara Turtington FCA tKhA
Saffery LLP
71 Queen Vittoria Street
London
EC4V 4BE
Bankers
Lloyds TSB Bank PIC
Guards & Cavalry Branch
7 Pall Mall
London
SWIY SNA
Solicitors
Wilsons
4 Lincoln's Inn Fields
London
WC2A 3AA

GUARDS. CHAPEL TRUST
REPORTOF THE TRUSTEE
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The trustee presents its financial statements for the yearended 30 September 2024. The trustees who served
during the period and up to the date of this ￿port are set out on page l.
Strurture* governance and management
The Guards, Chapel Trust is a charitable trust. It is governed by a Trust Deed dated 28 October 1964 as
amended by a scheme dated 11 October 1966 as amended bya scheme dated 9 September 2010 as amended
by ￿SolUtion dated 15 December 2011.
On 11 December 2023 the Trustee board resolved to resign and the sole Trustee became the Household
Division Charity CIO (registered charity number 12(X)8731 with effect from 16 January 2024.
The objects of the Charity are to erect and maintain memorials to members of the Brigade of Guards (the
Household Divi5ionl who have lost their lives in the service of theircountry as part of the fabric at the Guard
Chapel, also to repair, clean, furnish, decorate and maintain the Guards, Chapel and such other charitable
purposes connected with the Guards, Chapel as the trustees may at their absolute discretion determine.
The charity takes into account experience. qualifications and dedication to charitable causes when recruiting
and appointing new trustees. The charity provides on80ing training for its trustees where appropriate.
Representotives of the Trustee
On their first appointment, new representstives of the Trustee are given a copy of the scheme and a copy of
the Charivs latest report and statement of account5. All representatives of the Trustee undergo induction
training by the Charivs lawyer on appointment and fvrther training is promulgated when perceived to be
necessary, guided by legal and accountancy advisors.
The Major General Commanding the Household Division is the chairman of the meetings of the
representatives of the Trustee.
The representatives of the Trustee must hold at least 2 meetings in each 12 month period and at one such
meeting the representative5 of the Trustee review the Trustee's Annual Report and Accounts and approve
the Report and Accounts for adoption and authorise the Chairman to sign the report on the Trustee's behalf.
Orgonisutional strurture
The representatives of the Tnjstee manage the Charity through the Treasurer and part-time Assistant
Treasurer. Sub-committee5 are provided with Terms of Reference and budgets to ensure good governance
and compliance with best practice.
The representatNes of the Trustee comply with the requirements of the Charity Scheme by holdin8 meetings
during the year. Minutes provide records of decisions unless these are made out of Committee in which case
written records are maintained. The Treasurer is provided with an annual budget within which he applies
the Trustee's policy. Where thresholds are likely to be exceeded. authorisation is sought from the
representatives of the Trustee. The representatives of the Trustee maintain a Register of the Risks facing the
Charity which, along with the Budget, is reviewed routinely.

GUARDS. CHAPEL TRUST
REPORT OF THE TRUSTEE
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Risk monagement
The representatives of the Trustee have regard for the principal areas of the Charivs operation5 and the
major risks which may arise in these areas. In their opinion. the Charity has established resources and review
systems which, under normal conditions, should allow the risks identified by them to be mitigated to an
acceptable level in their day to day operations. The representatives of the Trustee are aware of the risks
associated with the small staff team at the charity. including the risk of fraud and risks associated with cash
handling. The representatives of the Trustee are therefore involved in the day to day management of the
charity.
The principal risk is that poor investment perfomiance could severely deplete the Charity's reserves and
ability to generate sufficient funds to meet needs. Thi5 risk 15 mana8ed by apFK)inting reputable fund
managers and review of their performance at meetings of the representative5 of the Trustee. The risk of
inappropriate expenditure is covered by authorisation PrO￿dUreS and review of detailed management and
year-end account5 by representatives of the Trustee.
A secondary risk is the inC￿asing cost of funding the Choir, combined with diminishing demands for services
for which fees are charged. The fees are reviewed annually.
Additional digital card readers and QR code Cards have been made available to encourage digital donations
by vi51tor5 and efforts are made to welcome passing tourists. The new organ is expected to attract greater
interest a5 It has now been completed.
Objertives and artivities
The charity's main objective and activity is the operation and maintenance of the Guards, Chapel located at
Wellington 8arracks in London. The representatives of the Trustee have referred to the guidance contained
in the Charity Commission's general guidance on publit benefit when reviewing its aim and objectives.
Achievements and perforniance
The Guard5, Chapel Committee members, on behalf of the Trustee. continue to optimi5e the use of the
Chapel in support of all military personnel in London but also the wider community of stakeholder5. the
general public and visitors from abroad.
The primary function at the Chapel remains to hold church services and recitals on a routine basis too- the
recitals being open to the public. Initiatives continue to be explored, in particular engaging with local
schools.
During the year covered by this report. the representatrves of the Trustee continued to raise funds to
replace the a8eing pipe organ. Installation of the new instrument was completed in June 2024.
Financlal Review
The charity generated a total net surplus for the year of E26,29312023= surplus of 161,8371 before gains on
investments of £63,117 12023= gains of £24,557). This surplus included all organ related income and
expenditure.
The charity generated a net surplus on restritted funds of £109.704 before other recognised gains or losses
12023.. a surplus of £181,557) and a deficit on its unrestricted funds of £83,41112023: deficit of £19.7201.
After accounting for gains on investments. all of which were unrestrirted. the total deficit on the unrestricted
funds wa5 £20,29412022: surplus of £4.8371.
During the year the charity made donations of £1.154 (2023.. £4371.

GUARDS. CHAPEL TRUST
REPORT OF THE TRUSTEE
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Reserves policv
It is the policy of the charity to maintain unrestricted funds sufficient to provide a stable base for the charity's
continuing activities while at the Same time ensuring excessive funds are not accumulated. At 30 September
2024 unrestricted reserves were £1,053,85912023'. £1,074,153) and restritted reserves were £1.341,993
12023: £1,232,289).
Investment pollcy
The majority of the Charitys funds are invested with Evetyn Partners Investment Management. The
investments aim to achieve a balance between capitsl growth and a steady and growing level of income from
a diversified portfolio predominantly investing in bonds and equities. The portfolio aims to deliver
progressive income growth that exceeds longer-term inflation. Over the longer term the portfolio aims to
preserve and grow its capital value in real terms notwithstanding shorter term market volatility.
The equity securities in the portfolio will general￿ be considered to have good potential for capital growth
together with rising leve15 of income where dividends are payable. The fixed income portion of the fund is
invested in UK government bonds, sterling denominated corporate issues and interest paying instruments
such as convertible securities. The portfolio's asset allocation reflects the trustees, benchmark IEvelyn
Partners Strategy 5 Index). The yardstick asset allocation las at May 20231 is 23-24% UK, 40% overseas, 30%
Bonds or Alternatives and 6-7% cash Ideviation authorised within Evelyn Partners, current risk assessment
guidance). This benchmark allocation is used in conjunction with the ARC Steady Growth Charity Index and
CPI +3%.
Publlc Benefit
The Trustees confirm that in setting their objectives and planning their activities they have given careful
consideration to the Charity Commission's general guidan￿ on public benefit.
Plans for future perlods
It is the charitys intention to continue to operate the Guards, Chapel on an established annual programme
in accordance with precedent. The trustees seek to embrace the widest congregation in order to meet the
tharit¢s objectives fully. In the coming year the trustees plan to explore live-streamin8 for all special Services
and increase the amount of donations received by the charity by making the process of donating more
straightforward.

GUARDS. CHAPEL TRU
REPORT OF THE TRUSTEE
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Statement of trustee's responsibilities
The Trustee is responsible for preparing the Report of the Trustee and the financial statements in accordance
with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted
Accounting Practice).
Charity law requires the trustee to prepare finanual statements for each financial year which give a true and
fair view of the state of affairs of the charitable company and of the incoming resources and application of
resources. In preparing these financial statements, the trustee is required to:
Select suitable accounting policies and then apply them con5iStently-
observe the methods and principles in the Charities SORP-
make judgements and estimates that are reasonable and prudent-
state whether applicable accounting standards have been followed. subjett to any material departures
disclosed and explained in the financial statements..
prepare the financial statements on the going concem basis unless it is inappropriate to presume that
the charity will continue in business.
The Trustee is responsible for keeping proper accounting records that disclose with reasonable accuracy at
any time the financial position of the charity and enable them to ensure that the financial statements comply
with the Charities Act 2011, the Charity IAccounts and Reports) Regulations 2W8 and the piovisions of the
trust deed. The Trustee is also responsible for safeguarding the assets of the charity and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustee on
and signed on tts behalf by:
3sL
Lieuten
Truste
nl Colonel C M J Fo
ette
ot Household Division Charity

GUARDS, CHAPEL TRUST
INDEPENDENT EXAMINERS REPORT TO THE TRusfEE OF GUARtyS CHAPEL TRUST
FOR THE YEAR ENDED 30 SEwfEMBER 2024
I report to the trustee on my examination of the accounts of the chèrity for the year ended
30 September 2024.
ftespertlve responsibilities of trustees and exarniner
As the charity trustee of the Trust you are responsible for the preparation of the accounts in accordance
with the requirements of the Charities Act 20111.the Arf).
I report in respect of my examination of the Trusvs accounts carried out under section 145 of the 2011 Act
and in carrying out my examination I have followed all the applicable Directions given by the Charity
Commission under section 14515llbl of the Art.
Basls of independent examlnees report
My examination was carried out in accordance with the 8eneral Directions given by the Chartty Commission.
An examination includes a review of the accounting record5 kept by the charity and a compari50n of the
accounts presented with those records. It also includes consideration of any unusual items or disclosure5 in
the accounts, and seeking explanations from you as the trustee concerning any such matter5. The
procedures undertaken do not provide all the evidence that would be required in an audit and consequently
no opinion is given as to whether the accounts present a 'true and fair Vie￿ and the report is limited to
those matter5 set out in the statement below.
Independent exarninerfs sLitement
Since the charity's gross income exceeded £250.IXKI your examiner must be a member of a body listed in
section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a
member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in
connection with the examination giving me cause to believe that in any material respect=
accounting records were not kept in re5pett of the Trust as required by section 130 of the Act- or
2. the accounts do not accord with those records: or
3. the accounts do not compty with the applicable requirement5 concerning the form and content of
account5 set out in the Charities (Accounts and Reports) Regulations 2(KJ8 other than any requirement
that the accounts give a 'true and frdir view which is not a matter considered as part of an independent
examination.
I have no concerns and have come acr055 no other matters in connection with the examination to which
attention should be drawn in this report in order to enable a proper understanding of the accounts to be
reached.
Cara Turtington FCA DChA
Saffery LLP
71 Queen Vidoria Street
London
EC4V 48E
28 July 2025

GUARDS. CHAPEL TRUST
STATEMENT OF FINANCIAL AcfiviTIES
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Unrestrirted
2024
Restrirted
2024
Totsl
2024
Total
2023
Income
Donation5
Charitable artivities
Investment income
61,166
72,878
18,035
306.762
367,928
72,878
18,035
321,432
79,099
21,357
Total income
152,079
306.762
458,841
421,888
Expenditure
Raising funds
Charitable activities
SSI
234.939
124,067
72,991
124.618
307.930
51,001
209,050
Total expenditure
235,490
197,058
432,548
260,051
Net incoming resources
before movements on
investments
183.4111
IC8,704
26,293
161,837
GainsllLossesl on investment
63.117
63.117
24,557
Net income and M0￿ment Sn
funds
(20.2941
109,704
89.410
186,394
Reconciliation of Funds
Total funds brought forward
at i October 2023
1.074.153
1,232,289
2,306.442
2,120,048
Total funds canied forward
at 30 September 2024
1,053,859
1,341.993
2.395.852
2,306,442

GUARDS, CHAPEL TRUST
8AiANCE SHEET
AT 30 SEPTEMBER 2024
2024
2024
2023
2023
Notes
Fixed assets
Tangible fixed assets
Investments
1,532.540
666,736
1,378,336
853,619
2.199.276
2.231,955
Current assets
Stock
Debtors
Cash at bank
io
li
5.711
5,674
318.857
5,711
9,173
189,667
330,242
204,551
Current liabilities
Creditors
12
1133.6661
1130,0641
Net current assets
196,576
74,487
Net asset5
2.395.852
2,306,442
Represent￿ by:
Unrestricted funds
Restricted funds
13
13
1.053,859
1,341,993
1,074,153
1,232,289
Total funds
2.395,852
2,306,442
Approved and authori5ed for issue by the trustee on
,'Ji
2025
Lieutenant Colon
C M J Foinette on behalf of the Household DbViSion Charity CIO
Trustee of Household Division Charity

GUARDS, CHAPEL TRUST
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
ststement of cash flows
2024
2023
Net cash provided by operating activities
33.017
149,387
Cash flows from investing arti¥ities
Investment income
Purchases of investments
Disposal proceeds from investments
Cash withdrawal from the portfolio
Purchase of tan8ible fixed a55ets
Net cash provided byl (used in) Investin8
artivities
19.E4)7
1117,6111
117,614
250.CKKJ
1173,4371
96.173
21,357
1136.6041
146,459
1850,7751
1819,5631
Change in cash and cash equivalents in the
year
Cash and cash equivalents at l October
Cash and cash equivalents at 30 September
129.190
189,667
318,857
1670,1761
859,843
189.667
Reconcillation of net income to net cash flow
from operatin8 activities
Net Income ft*r the reporting period as per
the ststement of financial activities
Adjustments for:
Depreciation charges
Unrealised investment lossesl(8ains)
Investment income
Decrease/lincreasel in debtors
Increase/ldecreasel in creditors
Decrease/lincreasel in stock
89.410
186.394
19,232
163,1171
118.035)
1.925
3.602
17,533
134.4101
121,3571
{1,8561
2,975
Net cash provided by operatin8 activities
33,017
149.387
Cash and cash equivalents
Ati
October
2023
At30
September
2024
Movement
in year
Cash at bank
189,667
129.190
318,857

GUARDS. CHAPEL TRusr
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Accounting policies
The principal accounting policies are summarised below. The accounting policies have been applied
consistently throughout the year and the preceding year.
8asis of accounting
The financial statements have been prepa￿d in accordance with the Statement of Recommended
Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the
Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 10211second
edition) and the Financial Reporting Standard applicable in the United Kingdom and Republic of
Ireland IFRS 1021 and the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
The financial statements are prepared in sterling which is the functional currency of the charity.
Monetary amounts in these financial statements are rounded to the nearest £.
Fund accounting
Funds held by the charity are=
Unrestricted funds=
These are funds which can be used in accordan￿ with the charitable objerts at the discretion of
the trustees.
Restricted funds:
These are funds Whe￿ the donor has specified their future use and they are held a5 restricted
funds until they have been used on that purpose. Where funds are raised for a significant capital
project the asset will be retained in the fund with future depreciation debited to the fund over the
expected useful economic life of the asset.
Going con¢em
The Trustees have reasonable expectation that the charity has adequate resources to continue in
operational existence for the foreseeable future. Thus they adopt the going concern basis in
preparing the annual financial statements.
Incomlng re￿urCeS
All incoming resources are included in the statement of financial artivities when the charity is
entitled to the income and the amount can be quantified with reasonable accuracy. The following
specific policies are applied to particular categories of income:
Voluntary income is received by way of grants. donations and grfts and is included in full in the
statement of financial activities when receivable. Grants where entitlement is not conditional on
the delivery of a specific performance by the charity are recogni5ed when the charity becomes
unconditionally entitled to the granL
Income from investments is included in the year in which it is receivable.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any
VAT which cannot be fully recovered. and is reported as part of the expenditure to which it relates.
io

GUARDS, CHAPEL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Resources expended {continued}
Costs of generating funds comprise the costs incurred by the charity in the delivery of its activities
and seryices for its beneficiaries. It includes both costs that can be allocated directly to such
activities and those costs of an indirect nature necessary to support them.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities
ènd services for its beneficiaries. It includes both costs that can be allocated directly to such
activities and those costs of on indirect nature necessary to support them.
Stock
Stock is held at the lower of cost and net realisable value.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of
depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or vèluation of assets less their residual values
over their useful lives on the following basis:
Sound System
Choir Robe5, Furniture and Equipment
Organ
25% straight line
25% stralght line
Over ICM) years from date of completion
The organ is treated as an asset under construction until it is completed and brought into Use. No
depreciation is charged during the period of construction.
The charity owns the embellishments of the Guards, Chapel. the Book of Remembrance and the
Memorial Bookcase which are kept for the benefit of future generations. Therefore assets of these
types are not depreciated.
Investments
Listed investments are stated at market value at the balance sheet date.
Financial assets
Financial assets are recognised in the charity's balance sheet when the charity becomes party to
the contractual provisions of the instrument. Basic financial assets. which include trade and other
receivables and cash and bank balances, are initially measured at transaction price including
transaction costs.
Financial assets are dereco8nised only when the contractual rights to the cash flows from the asset
expire, or when it transfers the financial asset and substantially all the risks and rewards of
ownership to another entity.
i.io
Financial liabilities
Basic financial liabilities are initially measured at transaction price.
Financial liabilities are derecogniied when. and only when, the charitys obligations are discharged,
cantelled. or they expire.
li

GUARDS. CHAPEL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
i.ii
Key judgements and assumptions
The key judgements and assumptions that have been made by the Trustees in the preparation of
the financial statements relate to the dep￿tIatIOn and valuation of assets.
1.12
Taxatlon
The charitws activitie5 fall within the exemptions afforded by the provisions of the Income and
Corporation Taxes Act 1988. Accordingly. there is no taxation charge in these accounts.
Oonatlons
Unrestrirted
2024
Restrfrted
2024
Total
2024
Totsl
2023
Donation5 collections & 8rants
Donations- Friends of the Guards Chapel
Donations for kneelers and plaques
Wages in kind
50.761
1.879
291,762
342.523
1,879
I5,(￿)
,526
308,224
5,741
15,(M))
8,526
7,467
61,166
306.762
367,928
321,432
In 2023 £253,497 of the donations were re5trirted.
Charitable Activitie5
Unrestrlrted
2024
Unrestrlrted
2023
Choir event5
Chapel fees
114
72,764
79.099
72,878
79,099
Investment incorne
Unrestrirted
2024
Unrestricted
2023
Investment income
Bank interest
17,054
981
21,357
18,035
21.357
12

GUARDS. CHAPEL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Fundralslng
Unrestrirted Restrtrted
2024
2024
Total
2024
Total
2023
Staff costs
Travel
Fundraising for organ costs
Other fundraising
6,958
108
20,568
23,367
551
551
124,067
124.067
551
124,067
124.618
51.(MJl
In 2023 all fundraising costs were unrestricted apart from Organ project costs of £34,343.
Charltable Artivities
Unrestricted
2024
Restrirted
2024
Total
2024
Total
2023
Staff cost5
Grants and donations
Organ scaffoldin& consultant and
composition5
Organist and choir
Wages in kind
Furniture. kneelers and plaques
Insurance
maintenan￿ and depreciation
Admin and IT
31,5
1,154
31,590
1,154
437
42,355
661
42,355
155,102
8,526
33.608
2,235
19,232
8.897
4,531
37,597
135.975
7.467
154,441
8,526
18.608
2,235
4.556
8.897
4.531
15.(MXI
14,676
19,247
1,893
4,221
Accountancy
Legal fees
Sundry
Travel
401
401
299
299
305
234.939
72.991
307,930
209,050
In 2023 all Charitable ActNities were unrestricted apart from Organ projett costs of £37,597.
The Chartty has no employees12023-. none). During the period no payments were made to anv
Trustee for their services nor were any expenses reimbursed to them12023= none).

GUARDS, CHAPEL TRUST
NOTES TO THE FINANaAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Wages and salarles
2024
2023
Wages
Social Security
Pension costs
23.704
7.886
6.858
31.590
6,858
Salary costs as Gift in Kind
Travel costs
8.526
299
7,467
305
40,415
14,630
Employees and trustee tran5artion5
There were 2 employee$12023= 0 employeesl during the period.
The Trustee5 are tonsidered to be the key management personnel of the charity with the staff
having more operational roles. Consequently the costs of the key management personnel of the
organisation amounted to £0 for the year {2023= £ 01
No employee earned more than £60.(MJ) on an annuali5ed basis {2023= none).
The trustees did not receprfe any remuneration or expenses during the year12023= nill.
14

GUARDS, CHAPEL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Tangible Fixed A55ets
Embelllshmerf of
Book of
Guard< Chapel RemembrarKe
Memorlal
Bookcase
At l Ortober 2023
Additions
74,407
3.472
1,612
At 30 September 2024
74.407
3,472
1.612
Depreclation
At l October 2023
Charge for the year
At 30 September 2024
Net Book Value
At 30 september 2024
74A07
3,472
1,612
At 30 September 2023
74,407
3,472
1.612
Sound
Choir robes.
equipment
and furniture
Organ
Total
At l October 2023
Addition5
69.71XI
37,106
1,294,183
173,437
1,480.480
173,437
At 30 September 2024
69,7(K)
37.106
1,467.620
1,653,917
Deprecialion
At l October 2023
Charge for the year
65,252
36,892
102,144
19,232
14,676
At 30 September 2024
69.7(M)
37.CrfXI
14.676
121,376
Net B¢)ok Value
At 30 September 2024
106
1.452.943
1,532,540
At 30 September 2024
214
1.294,183
1,378,336
15

GUARDS, CHAPEL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Investments
1024
2023
Market value at l October 2023
Additions
Disposals
Gainslllossesl on investments
Cash movement
Capital withdrawn
Impact of aliquot Changes
853,619
117.611
1119,8851
63,117
157,4591
1250,CWI
59,733
829,063
136,604
1146,4591
27,774
6,637
Market value at 30 September 2024
666,736
853,619
2024
2023
UK Government Bonds
UK Fixed interest securities
Overseas Fixed interest securities
UK Equity shares
Overseas Equity shares
Other
24,046
31,652
19,431
166,317
312.433
107.827
30,956
58,567
14,686
237,(KJ5
342,766
107,151
661,706
5.030
791,131
62,488
Cash
Market value at 30 September 2024
666.736
853,619
io.
Stocks
Unrestrfrted
2024
Unrestrfrted
2023
Cloth and badge materials
5,711
5,711
5,711
5,711
ii.
Debto
Unrestricted
2024
Unrertrirted
2023
Other Debtors
Accrued income
1,394
4.280
3,319
5,854
5.674
9,173

GUARDS, CHAPEL TRUST
NOTES TO THE FINANCIAL sfATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
12.
Credttors
2024
2023
Accruals
Loans from regiments
3,666
130.CKJ)
5,064
125.OCQ
133.666
130,064
13.
Net a55ets by fund
2024
Unrestrfrted Restricted
Total
Tangible fixed assets
Investments
Stock
Debtors
Cash at bank
Creditors
79.597
666.736
5.711
5.674
299.807
13,6661
1,452,943
1.532.540
666.736
5,711
5,674
318.857
1133,6661
19,050
{130.LKKII
Total
1,053.859
1,341,993
2.395.852
2023
Unrestricted
Re5tritted
Total
Tangible fixed assets
Investments
Stock
Debtors
Cash at bank
Creditors
84,153
853.619
5,711
9,173
126,561
15,0641
1,294,183
1,378,336
853,619
5,711
9,173
189.667
1130,0641
63,106
I125.C￿l
Total
1,074.153
1.232,289
2.306.442
17

GUARDS, CHAPEL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
14.
Rertrfrted furds
Ati
Atyo
September
2024
Galns I
transfers
2023
Organ
Kneelers and plaques
1,232,289
291,762
15,C(X)
1182,0581
115,CKM)I
1,341,993
1,232.289
3[￿,762
1197,0581
1,341,993
2023
Organ
1.050.732
253.497
171.9401
1,232,289
1.050.732
253,497
171,9401
1,232.289
Restricted funds represent money raised in connection with The Guards, Chapel Organ Campaign,
the purpose of which is to commission and inrtall a new pipe organ in the Chapel. Thi5 new organ
will support not only the Chapel's ceremonial and weekly service5 but also a greater programme
of recitals and concerts which make use of the Chapel's facilities. including outreach initiatives for
the local community and schools.
A grant was received in the year to restore the plaques and cabinets damaged in the bofflbing
during WWII. This has been fully spent in the current year.
15.
Related party transactlons
The Trustees confim that there have been no related party transactions in the period which
require disclosure in the financial statements12023: none).
18

GUARDS, CHAPEL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
ComparatNe ststement of financial a¢t•¥itie5
Unrestrirted
2023
Restricted
Z023
Total
2023
Note
Income
Donations
Charitable activities
Investment income
Other incomin8 resources
67,935
79,099
21.357
253.497
321.432
79.099
21,357
Total income
168.391
253,497
421,888
Expendlture
Raising funds
Charitable activities
16.658
171.453
34,343
37.597
51.(Kll
209,050
Total expenditure
188,111
71.940
260,051
Net incoming resources before
movements on investment5
119.7201
181.557
161,837
Gains1lLossesl on investment
24.557
24,557
Net income and m¢>vement in fvnds
4,837
181557
186,394
Reconciliation of Funds
Total funds brought forward at I
October 2022
I,C69,316
1,050.732
2,120,048
Total fvnds carrfed forward at 30
September 2023
1,074,153
1.232.289
2,306,442