*XXVIi Lxvii THE ROYAL HAMPSHIRE REGIMENT TRUST Chairman- Colonel SAC Frere-cook MBE Secretary- Lt Col CA BuLleid HE TH STDE EMBER2 24 1. The Royal Hampshire Regiment Trust continuas to act as the umbrella for the following charityfunds: The RoyaL Hampshire Regiment Museum The RoyaL Hampshire Regiment Welfare Fund 272965 246902 2. The Royal Hampshlre Regiment Trust- Summary a. Work has continued to streamline the administrative burden of the Trust during the year. The original plan was to do the necessary paperwork ourselves and applyfor both charities to become Charitable Incorporated Organisations (CIOS), however it rapidly became clear that this was a major undertaking and not as easy a task as first presumed, so it was decided to employ a solicitor to do this in 2025. b. The 2022 lease continues to run with the RegimentalTrust paying Hampshire County Council IHCC) the agreed £10.000 per annum as the Upkeep and Maintenance charge for the use of the Ground Floor of Serle's House. This sum includes an eLement for the provision of fuel and light; despite financial constraints on the Council, it was perceived that the cost of splittingthe wiring and piping for separate meterage would not be cost effective. b. Lt Col CA Bulleid continues as Trust Secretary and Chief Executive on a parttime basis13 days a week); Mrs Susannah Jarvis, remains the Curator. In addition, 3 part-time assistant curators are now employed to carry out"Front of House" duties and help the Curatorwith ancestor research enquiries etc. Volunteers (now more lay members of the public than ex-soldiers forthe first time) continued to do outstanding and essential work-especially in the Museum and Memorial Garden. c. The footfall by the general public, which had marginally increased post Covid Pandemic. has still not returned to pre-covid numbers and more work will need to be done to encourage this.
- Financial Policles a. Funds for the 2 charities in the Trust are accounted for separately, but all continue to contribute to Core expenditure. The Transaction account continues to man8ge this. The Welfare Fund continues to foster 'esprit de corps, (as the Comrades. Association did before it) and Welfare Grants are also paid from this fund as had happened in the pastwith the Hampshire and Isle of Wight MilitaryAid Fund. b. The investments, with Newton Investment Management Ltd since 2015, have continued to produce excellent returns. Trustees believe suff icient funds need to be generated and held in reserve in order of priorityto: (i) Support benevolence and esprit de corps forformer members of the RoyaL Hampshire Regiment and who are in need, hardship, or distress. (li) Improve and refresh the Museum displays so that these continue to enlighten the Public about the County Regiment as well the Armytoday. In 2024, a revamp of the museum was started to coincide with th the 80 anniversary of the D Day Landings. This was started, butfor various staffing reasons was not fully completed and was rolled into 2025. (iii) Insure the museum and its artefacts against unexpected disasters. (iv} Maintain the Memorial Garden to a high standard. c. Looking ahead, Trustees project at least a further 25 years required for benevolence. For the Museum and Memorial Garden, we are looking, initially, to 2032. We assess annual running costs, using predominantly volunteers working under an experienced curatorialteam. to be of the order of £80-90k a year from 2024.
- General Policies Risk assessment, DDA and child protection policies continue to be maintained. The Child Protection Policy forms part of ourAccreditation Status. A schedule of all risks is assessed annually coveringthe Museum, the Memorial Garden, electrical and office equipment. A COSHH register is also maintained, including dates when inspections and risk assessments and action taken, are carried out.
- Regimental Museum & MemoriaLGarden a. Whilst the Museum continues to subscribe to and be part of the Winchester Military Museums, group, it remains an independent body. Additionally, the Trustees continue to: li) Provide education opportunities. Working with the Winchester Military Museum group, the Hampshire and Isle of Wight Military Museum Forum, Trustees offer a range of exhibits and demonstrations to encourage schools to visit. Visitor numbers were still down on pre-covid rates as tourists returned and people got back into the habit of goingto public institutions. in 2024 they remained around 6,000 which were approximately the same as the 2023 figure. (li) Advertise widely and use our website to encourage visits of groups of all ages. {iii) Meet requests by local organisations to provide staff and Regimental experts to lecture on military and Regimental matters. liv) Encourage esprit de corps amongst former members of the Regiment. b. Subscriptions via standing orders and donations for the MLJseum and the Memorial Garden in 2023 were: (i) Museum £11,700 and the Memorial Garden £1,700. lill Donations for the Museum £7,500; Memorial Garden £620.
c. Trustees recognise the need to maintain the profile of the British Army in general and of the Royal Hampshire Regiment's successors, the Princess of Wales's Royal Regiment, in particular. To achieve this, they display a range of military publications and include a PWRR specific display. d. Family Ancestor Research. The Museum maintains its complete archive, the contents of which are available to the general public via the museum staff. The number requests from the general public for assistance in researching ancestors connected with the Regiment has remained at around 25 per month, though there has been a reluctance from people to pay for the research. A full ancestor research report takes around 4 hours to complete and this is becoming a drain on staff time. Interest is now predominantly in WIN2, with a steady flow of requests about WW1. 6. Memorial Garden a. The Memorial Garden continues to be maintained as a place of tranquillity and is regularly visited through the year. Members of the public enjoy sitting on the benches, a sandwich lunch and time for reflection. 7. The Comrades, Association a. On account of the demographics of the body of the Comrades, Association, there are now two very distinct groups of Comrades. The "Town Branches", which had been formed at the end of WW2 and were sustained by the National Seniice generation are dwindling on account of age and morbidity and a number of the Branches have now closed. The"Younger Generation- of Comrades who tended to serve in the 1970s180s and early 90s continue to hold their annual reunion in Portsmouth in March each year, this is continuing and up to 200 Comrades attend. Communication between the two groups is either via the Branch Secretary (for the older generation) and via social media (for the younger generation). b. As well as fostering the esprit de corps of the Regiment, welfare grants are given to ex-soldiers and their families as necessary, if in need, hardship or distress. Grants given by the Harnpshire and Isle of Wight Military Aid Fund continue to be 'topped' up bythe Comrades, Association Fund {for soldiers). 8. The Royal Hampshire Regiment Welfare Fund a. Grants to soldiers continue to be given by'The Hampshire and Isle of Wight MilitaryAid Fund. after a recommendation from SSAFA or the Royal British Legion. More than half of the grants in in 2024 were over £500, with many being at £1,000, but the over811 number of grants remained at about 20. The cases were evenlyspread between assistance for brown or white goods for home, mobility aids leg hoists, electric scooters or beds and retraining. b. No grant was made in 2024 to anyformer officerwhich in the past would have been made from the Princeps Bowden Smith Memorial Fund, before it merged with the Comrades, Association in 2021. Chairman of Trustees -ColoneL Simon Frere-cook MBE 22" October 2025
REGISTERED CHARITY NUMBER: 246902 ort of the Trustees and Daudlted Financial Stste ar nded for al Ham shire Re Fund ime Wheeler & Co Ltd Chartered A¢countants The Sbrubb¢ry 14 Church Street Whitchuwh Hampshire RG28 7AB
The Ro IHam shire Re Fund iment Welfare Contents of the Flnanclal Statement5 or the Year Ended Page Report of the Trustees I to 3 Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes lo the Flnanelal Stalemenls 7 to 12 Detalled Statement of Financial Activltiej 13 to 14
The Ro al Ham hire Re Iment Welfare Fund rt of the Trustees for the Year Ended 31st Deeember 2024 The trustees present their report with the fmancial statements of the charity for the year ended 31 st December 2024. The stees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicabl¢ in the UK and Republic of Ireland (FRS I02) (effe¢tiv¢ l January 2019). OKJECTIVES AND ACTIVITIES Objectives and aims The objects of th¢ WelfaTe Fund are: l ) To promote the efficiency of the successor Regiment (the Princess of Wales's Royal Regirnent (PWRR)) by: i) Fostering esprit de corps among fornier members of the Royal Hp$h]re Regiment and fonner and serving members of the PWRR and enabling them to keep in touch with Regimental affairs and with one another. ii) As5jSting fornier members of the Royal Hampshire Regiment and fornier and serving members of the PWRR to obtain suitable employment. 2). To relieve fornier m¢mbers of the Royal Hampshire Regiment or fonner and serving members of the PWRR or their dependants, who are in nee4 hardship or distress. The Trustees may relieve persons in need by: a. Making grants of money to them; or b. Providing or paying for goods, services or facilities for them. or . Making grants of money to other persons or bodies who provide good4 service5 or facilities to those in need. The objects of the Hllpshjr¢ & Isle of Wight Military Aid Fund are: l ). The relief of those members of the British Arniy (whether regular, reservist, militia> yeomanry or volunteer) and their dependents who are in need, hardship or distress and who are, or were: i) Members or fornier members of any Tegirnent or corps raised in the County of Hampshire (and Isle of Wight), ii) Members or fornier members of The Princess ofwales's Royal Regiment who were resident in the county of Hampshire (and Isle of Wight) at the time of enlisknent. 2). The trustees may relieve persons in need by." a. Making grants of money to them. or b. Providing or paying for goods, services or facilities for them. or . Making grants ofmoney to other persons or bodies who provide go(Kls, services or facilities to those in n¢cd. SignificaDI actlvltle5 The number of cases consid¢r¢d by the Hampshire & Isle of Wight Military Aid Fund in 2024 continued to fall, with a total of 18 being considered and fund5 being allocated to 15 of them, the remainder being ineligible under the tenns of the Charity. Just short of £10,000 was granted, mp8red to £14,000 the previous year. 2 Cases were for mobility equipment. 4 for household goods, with the majority (6 cases) being for debt related and 2 for travevremoval costs. The fund continues to be supported by the Comrades, Association, for fornier Royal Hampshire soldiers. Those that benefit the most are the soldiers who transitioned into the PWRR in 1992, on amalgamation as they will benefit from a grant from the Welfare Fund and a grant from PWRR. Th¢ Comrades, Association branch¢s that still exist, continue to decline in member number with the exception of the Regimental, whose core members are still by and large in full time employment. The Club continue to meet once a year in Portsmouth. Following on from the success of the post Covid Memorial Service in 2022, a further Religious Service held in the Memorial Garden at the beginning of August. wh¢n the names of those who had died in the previous 2 years were read out, Approximately 80 forn]¢r soldiers and the wiveslpartners attend¢d. The event was deemed to be such a success that it was agreed that it would be h¢ld annually in future on th¢ n¢arest Saturday to 1st August ((Minden Day). Page I
The Ro al Ham shlre R Furld iment Welfare ort of the Trustees for the Year Ended 31st December 2024 OBJECTIVES AND AcrIvrriES Publie benefil In line with the Charity Commission's guidance the trustees have been made aware of the need for public benefit to be a cial part of the decisions of the committee. The trnstees consider that this is hleyed by grant payments and the rnaintenance of reserves as well as the social investments detailed elsewhere. Social inveslments The fostering of Esprit de Corps amongst fornier members of the Regiment is considered by the Thistees to be a very important role of the Comrades, Association. Many of the functions including the Annual Reunion rejnain heavily subsidised. GrantmakiDg The vast majority of benevolence to fornier members of the lioyal Hampshire Regiment is adminis*red by the Hampshire and Isle of Wight Military Aid Fund (a separate and independent clwity (No 202363), to which the Comrades, Association contribu¢¢s in most cases by up to 20 % of the grant. ACHIEVEMENT AND PERFORMANCE Investment performgnee Investment funds continue lo be managed by the Newton Growth & Inwme Fund for Charities. FINANCIAL REVIEW Reserves polley It is the policy of the trustees to maintain sufficient capital within the Hnp8hIre & Isle of Wight Military Aid Fund to provide incorne for benevolence at the 21M14 level until the year 2050, at which point it is assumed that the need for benevolence will have reached a very low level due to lack of people who qualify for help according to the cuent rules. As the number of clairnanL8 falls, the fund will be able to accept a greater share of the burden thus reducing claims on The Soldiers, Charity (The Anny Benevolent Fund). STRUCTURE, GOVERNANCE AND iKANAGEMENT Governfing document On 9th December 2021 th¢ Hampshir¢ & Isle of Wight Military Aid Fund became linked to the Royal Hampshire Regitnent Con]rades' Asso¢iation, at which point the name was changed to the Royal Hampshire Regiment Welfare Fund. The basi¢ tenets of the scheme have not ¢hanged from the governing document. dated April 2003. Risk management l. The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. 2. Investments are managed by BNY Mellon who, with the Trustees, will ensure that they are sufficiently diverse. REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Charity number 246902 Printipal address Serle's House Southgate Street Winchester Hampshir¢ S023 9EG Page 2
The Ro al Ham shire Re Iment Welfare Fund Re rt ftheTr e Year End tees r 2024 Trustees Col SAC Frere-cook MBE Lt Col CF Warren OBE Brig TAL GI&ss Brig DA HTison MBE DL Col PA Davis CBE Lt Col SJ Nye MBE Maj MF Pearce Capt J M Curtis Ms A E Stone Chairnian Secretary Lt Col CA Bulleid Independent Examiner Wheeler & Co Ltd Chartered Accountants The Shrubbery 14 Church Street Whitchurch Hampshire RG28 7AB Approved by order of the board of trustees on ..... and signed on its behalf by: Col SAC Frere4ook- Trustee Page 3
Inde endent Examlner's Re ort to the Trnstees of The Ro al Ha shire Re iment Welfare Fund Independent examiner's report to the trustees of The Royal Hampshire Regiment Welfare Fund I report to the charity trustees on my examination of the accounts of The Royal Hampshire Regiment Welfare Fund (the Trust) for the year ended 31 st December 2024. Responsibilities and basis of report As the charity trustees ol the Trust you are responsible for the preparation of the accounts in accordance with the requirernents of the Charities Act 2011 (Ihe Act,). I rert in respect of my examination of the Trust's accounts carried oul under Section 145 of the Act and in carrying out my exarnination I have followed all applicable Directions given by the Charity Commission under Section 145(5Xb) of the Act. Independent examlner's stalement I have completed my examination. I confirni that no material matters have come to my attention in connection with the examination giAllg me cause to believe that in any malerial respect: accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or the accounts do not accord with those records: or the accounts do not comply with the applicable requirements concerning the fonn 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 considered as part of an independent examination. I bave 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 understanding of the accounts to be reached. Kevin Wheeler FCA Wheeler & Co Ltd Chartered Accountants The Shrubbery 14 Church Street Whitchurch Hampshire RG28 7AB Page 4
The Ro al Ham shire R Fund iment Welffdre t8 ement of FinYdDcial Activitie I t December 2024 31.12.24 31.12.23 Hampshire & Isle of Wight Military Aid Fund Comrades, Association General Fund Total funds Total funds Notes L¥COME AND ENDOWMENTS FROM Donations and legacies 985 985 1,872 Other trading a¢tiviti¢s nvestsnent incorne 750 750 490 Total EXPENDITURE OIY Charltable aetlvltles Charitable grants and th)nations Comrades, activities In support of the regimental museum In support of the memorial garden ,107 8,107 2,261 88,309 223 10.817 1,965 70.074 1.312 2,261 88,309 223 Other Total Net gains on investments 121612 NET INCOME 54.695 45,071 99,766 91,179 RECONCILIATION OF FUNDS Total funds brought forward 936,147 846,668 1,782,815 1,691,636 TOTAL FUNDS CARRIED FORWARD 891739 1882 581 1782 815 The notes forn] part of these fmancial statements Page 5
TheRo alHam shlreRe Fund fiment Welfare Balance Sbeet eember 2024 31.12.24 31.12.23 Hampshire & Isle of Wight Military Aid Fund Comrades, Association General Fund Total funds Total funds Notes FIXED ASSETS Tangible assets Investh]ents io 2,300 961679 2,300 1799 228 2,300 1717616 837 549 963,979 837,549 1,801,528 1,719,916 ctFRRENT ASSETS Debtors Cash at bank 12 14,262 14,262 11,762 28,588 54,190 82,778 64,594 CREDITORS Amowits falling due within one year 13 (1,725) (1,725) (1,695) NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES 990,842 891,739 1,882,581 1.782.815 NET ASSETS 990 842 891739 1882 581 1782 815 FUIYDS Unrestricted funds: Comrades, Association General Fund The Hampshire & Isle of Wight Military Aid Fund 14 990,842 891,739 936,147 846,668 1882 581 1782 815 TOTAL FUNDS 1882 581 1782 815 The fmancial Statements wer¢ approved by the Board of TTUStees and authorised for issue on .. and were signed on its behalf by.. SAC Frere-Cook- Trustee The notes forn] part of these financial ststements Page 6
The Ro al Ham shire Re IEnent Welfare Fund Notes to the Financial Statements for the Year Ended 31st December 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the clwity, which is a public benefit entity under FRS 102, have been prepared in accordanc¢ with the Charities SORP IFRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing th¢irawounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of treland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 'Th¢ Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The fllW]cial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain a55ets. Ineome All income is recognised in the Stdtemenl of Financial Activities once the charity has entitlement to th¢ fimds, it is probable that the income will be received and the amount can be measured reliably. Expendlture Liabilities are recognised as expenditure as soon &s there is a legal or constructive obligation committing the ¢harity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement gnd the amounl of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all c05t relal¢d to the ¢at¢gory. Where costs cannot be dIrtIY attributed to particular headings they have been allocated to activities on a basis consistent with the us¢ of resources. Grants offered subject to conditions which have not been met at the year-end date are noted as a commitment but not accrued as expendittlre. Allocation and apportlonment of costs As coThfned at the Trustees, Meeting on 26th June 2015, the chariry incurs a charge of 75Q/o of the management and administration costs of the rnnning the Regimentsl Trust. Tv4nglble fixed assets Depreci&tion is provided at the following annual rates in order to write off each asset over its estimaled useful life. Freehold property not provided Taxatlon The charity is exempt from t&x on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trust¢es. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by tbe donor OT when funds are raised for particular restricted purposes. As agreed at the Trust¢¢s' Meeting on 26th June 2015, the funds which for decades had been designated as restricted and unrestricted should b¢ combined The history of these funds dates back to just after the Second World War when certain money had been donated forthe benefit solely of those Comrades who had been Prisoners of War. It was agreed that as the number of Comrades still alive who fell into this category was in single figures and this was the tirne to combine the funds. The cases for all comrades (th05e who had been prisoners of war and those who had not) are all dealt with the same. Pensfion costs and other post-retlrement benefits The charity operates a defmed contribution pension scheme. Contributions payable to the charity's pcnsion scheme &re cbarged to the Statement of Financial Activities in the p¢riod to whÉch they relate. Page 7 continued...
The Ro al Ham hire R Fund iment Welfare Iyoles to the Financial Statements - continued he Year Ended 31st December 2024 DONATIONS AIYD LEGACIES 31.12.24 31.1223 Donations Subscriptions 325 660 1.252 620 985 OTHER TRADING ACTIVITIES 31.12.24 31.12.23 Reunion Newsletter Wreaths 350 360 40 370 120 750 490 INVESTME INCOME 31.12.24 31.12.23 Dividends received Interest received 39,125 348 40.018 308 CHARITABLE ACTIVITIES COSTS Grant funding of tivitxes (see note Support Costs (5¢e note 7) Direct Costs 6) Totals Charilable grants and donations Comrades, activities tn support of the regimental museum In supp)rt of the memorial garden 8,107 8,107 2,261 88,309 223 2,261 82,342 223 5,967 GRANTS PAYABLE 31.12.24 31.12.23 Charitsble grants and donations The total grants paid to individuals during the year was as follows: 31.12.24 31.12.23 Individuals Page 8 ontinued...
The Ro al Ham hire Re Fund iment Welfare Notes to the Financial Ststem nts - tontlnued ar Ended 31st Decem SUPPORT COSTS Governance costs Management Totals Other resources expended tn support of the regimental museum (40.444) 4,598 (35,846) Support costs. included in the abov¢, ar¢ as follows: Management 31.12.24 31.12.23 support ofthe regimental museum Other resources expended Total activities Totsl activities Staff salaries Travelling expenses Telephone Office costs Sundries Cleaning Trustee meeting costs Trust costs allocation Less PWRK Contribution 19,810 19,810 416 1,185 3,453 510 953 446 (58,250) 18,000 235 1,105 2,993 124 955 943 (58,000) 416 635 3,453 510 953 550 446 (58,250) Governanee eogts 31.12.24 Other resources expended 31.12.23 Total activities Legal fees Accountancy 3,428 Page 9 continued...
The Ro Al Ham shlre Re iment Welfare Fund Notes to the Financial Statements - continued he Year Ended 31st December 2024 TRUSTEES, REMUNERATION AND BENEFITS There were no ttustees, remuneralion or other benefit5 for the year ended 31 st December 2024 nor for the year ended 31 st December 2023. Trusteej, expenJe5 There were no trustees, expenses paid for the year ended 31st December2024 nor for the year ended 3 1st December 2023. STAFF COSTS The average monthly number of employees during the year was as follows: 31.12.24 31.12.23 Administration Museum No employees received emoluments in excess of £60,000. 10. TANGIBLE FIXED ASSETS Freehold property COST At I st January 2024 and 3 1st December 2024 NET BOOK VALUE At 3 1st December 2024 At 3 1st December 2023 ii. FIXED ASSET INVESTMENTS Unlisted investments MARKET VALUE At 1st January 2024 DispK)sals Revaluations 1,717,616 (40,000) 121612 At 3 1st December 2024 1799 228 NET BOOK VALUE At 31 st December 2024 1,799,228 At 31st DeC¢mr 2023 1717 616 There were no investment assets outside the UK. Th¢ historic cost of investmts is £1,170,079. revaluation £629.149 (2023 - £507,537) Page 10 continued...
The Ro IHam hire Re Fund iment Welfare Note5 to the Financial Sta ar Ended 31s emen continued 12. DEBTORS: AMOUI¥4TS FALLING DUE WITHIN ONE YEAR 31.12.24 31.12.23 Inter trnst balances Prepayments and ac¢rued income 11,222 11,222 540 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.24 31.12.23 Accrued expenses 14. MOVEMENT IN FUNDS Net movement in funds At 31.12.24 At 1.1.24 Unrestrleted funds Cornrades, Association General Fund The Hampshire & Isle of Wight Militsry Aid Fund 936,147 54,695 990,842 891739 1782 815 1882 581 TOTAL FUNDS 1782815 1882 581 Net movement in funds, included in the abov¢ are as follows.. Incoming resources Resources expended Gains and losses Movernent in funds Unrestrlcted funds Comrades, Association General Fund The Hampshire & Isle of Wigbt Military Aid Fund 21,658 (31.897) 64,934 54,695 31157) 121612 TOTAL FUNDS 63 054) 121612 Pagell continud..
The Ro al Ham hire Re Fund 'ment Welfare Notes to the Fin8ncRal Statements - Continued 14. MOVEMENT IW FUNDS - continued Comparatives for movement in funds Net movement in fid$ At 31.12.23 At 1.1.23 Unrestrlcted funds Comrades, A550ciation General Fund The Harnpshire & Isle of Wight Military Aid Fund 888,752 47,395 936,147 802 884 1691636 1782 815 TOTAL FUNDS 1691636 1782 815 Compardtive net movement in funds, included in the above are as follows: Incoming resources Resources expended Gains and losses Movement in funds Unrestrieted funds Comrades, Association General Fund The Hampshire & Isle of Wight Military Aid Fund 23,119 (26,802) 51,078 47,395 20 340) TOTAL FUIYDS 47 142) IS. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 3 1st December 2024. Page 12
The Ro al Ham shire Fund iment Welfare Delailed Slatement of Finaneial Activities he Year Ended 31 t 31.12.24 Unrestricted funds 31.12.23 Total fun(ts INCOME AND ENDOWMENTS Donations and legAeies Donations Subscriptions 325 660 1,252 620 985 1,872 Other tradfing actlvities Reunion Newsletter Wreaths 350 360 40 370 120 750 490 IDvestment Ineome Divid¢TJds received Interest received 39,125 348 40,018 308 Total Ineomlng resources 41,208 42.688 EXPENDITURE Charitable actlvltles Museum - wages Mus¢um - social security PeTh5ions Annual Reunion Wreaths Subscriptions Comrades, Esprif de Corps Museurn - HCC service charges Mu5¢um - volunteers, expenses Museum - IT support Garden - m¢rnorial bench Garden - maintenanr Grants to individuals 66,526 299 1,524 350 202 585 1,304 7,500 186 6,127 60,406 996 275 544 540 1,146 2,500 420 3,721 1,252 60 223 92.933 82,677 Support costs Management Staff salaries Travelling expenses Carried forward 19,810 416 20,226 18,000 235 18,235 This page does not forni part of the statLrtory financial statements Page 13
The Ro al Ham Shire Fund iment Welfare etail¢d Statement of Financial Activitie5 orth Y rEnded3 24 31.12.24 Unrestricted funds 31.12.23 Total funds Management Brought forward Telephone Office costs Sundries Cleaning Trustee meeting costs Trust costs allocation Less PWRR Contribution 20,226 1,185 3,453 510 953 446 (58,250) 18,235 1,105 2,993 124 955 943 (58,000) (34,477) (36,645) Governance costs Legal fees Accountancy 3,428 Total resources expended Net Income This page dS not forni part of the statutory fu1claI statements Page 14
REGISTERED CHARITY NUMBER: 246902 ort of the Trustees and Daudlted Financial Stste ar nded for al Ham shire Re Fund ime Wheeler & Co Ltd Chartered A¢countants The Sbrubb¢ry 14 Church Street Whitchuwh Hampshire RG28 7AB
The Ro IHam shire Re Fund iment Welfare Contents of the Flnanclal Statement5 or the Year Ended Page Report of the Trustees I to 3 Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes lo the Flnanelal Stalemenls 7 to 12 Detalled Statement of Financial Activltiej 13 to 14
The Ro al Ham hire Re Iment Welfare Fund rt of the Trustees for the Year Ended 31st Deeember 2024 The trustees present their report with the fmancial statements of the charity for the year ended 31 st December 2024. The stees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicabl¢ in the UK and Republic of Ireland (FRS I02) (effe¢tiv¢ l January 2019). OKJECTIVES AND ACTIVITIES Objectives and aims The objects of th¢ WelfaTe Fund are: l ) To promote the efficiency of the successor Regiment (the Princess of Wales's Royal Regirnent (PWRR)) by: i) Fostering esprit de corps among fornier members of the Royal Hp$h]re Regiment and fonner and serving members of the PWRR and enabling them to keep in touch with Regimental affairs and with one another. ii) As5jSting fornier members of the Royal Hampshire Regiment and fornier and serving members of the PWRR to obtain suitable employment. 2). To relieve fornier m¢mbers of the Royal Hampshire Regiment or fonner and serving members of the PWRR or their dependants, who are in nee4 hardship or distress. The Trustees may relieve persons in need by: a. Making grants of money to them; or b. Providing or paying for goods, services or facilities for them. or . Making grants of money to other persons or bodies who provide good4 service5 or facilities to those in need. The objects of the Hllpshjr¢ & Isle of Wight Military Aid Fund are: l ). The relief of those members of the British Arniy (whether regular, reservist, militia> yeomanry or volunteer) and their dependents who are in need, hardship or distress and who are, or were: i) Members or fornier members of any Tegirnent or corps raised in the County of Hampshire (and Isle of Wight), ii) Members or fornier members of The Princess ofwales's Royal Regiment who were resident in the county of Hampshire (and Isle of Wight) at the time of enlisknent. 2). The trustees may relieve persons in need by." a. Making grants of money to them. or b. Providing or paying for goods, services or facilities for them. or . Making grants ofmoney to other persons or bodies who provide go(Kls, services or facilities to those in n¢cd. SignificaDI actlvltle5 The number of cases consid¢r¢d by the Hampshire & Isle of Wight Military Aid Fund in 2024 continued to fall, with a total of 18 being considered and fund5 being allocated to 15 of them, the remainder being ineligible under the tenns of the Charity. Just short of £10,000 was granted, mp8red to £14,000 the previous year. 2 Cases were for mobility equipment. 4 for household goods, with the majority (6 cases) being for debt related and 2 for travevremoval costs. The fund continues to be supported by the Comrades, Association, for fornier Royal Hampshire soldiers. Those that benefit the most are the soldiers who transitioned into the PWRR in 1992, on amalgamation as they will benefit from a grant from the Welfare Fund and a grant from PWRR. Th¢ Comrades, Association branch¢s that still exist, continue to decline in member number with the exception of the Regimental, whose core members are still by and large in full time employment. The Club continue to meet once a year in Portsmouth. Following on from the success of the post Covid Memorial Service in 2022, a further Religious Service held in the Memorial Garden at the beginning of August. wh¢n the names of those who had died in the previous 2 years were read out, Approximately 80 forn]¢r soldiers and the wiveslpartners attend¢d. The event was deemed to be such a success that it was agreed that it would be h¢ld annually in future on th¢ n¢arest Saturday to 1st August ((Minden Day). Page I
The Ro al Ham shlre R Furld iment Welfare ort of the Trustees for the Year Ended 31st December 2024 OBJECTIVES AND AcrIvrriES Publie benefil In line with the Charity Commission's guidance the trustees have been made aware of the need for public benefit to be a cial part of the decisions of the committee. The trnstees consider that this is hleyed by grant payments and the rnaintenance of reserves as well as the social investments detailed elsewhere. Social inveslments The fostering of Esprit de Corps amongst fornier members of the Regiment is considered by the Thistees to be a very important role of the Comrades, Association. Many of the functions including the Annual Reunion rejnain heavily subsidised. GrantmakiDg The vast majority of benevolence to fornier members of the lioyal Hampshire Regiment is adminis*red by the Hampshire and Isle of Wight Military Aid Fund (a separate and independent clwity (No 202363), to which the Comrades, Association contribu¢¢s in most cases by up to 20 % of the grant. ACHIEVEMENT AND PERFORMANCE Investment performgnee Investment funds continue lo be managed by the Newton Growth & Inwme Fund for Charities. FINANCIAL REVIEW Reserves polley It is the policy of the trustees to maintain sufficient capital within the Hnp8hIre & Isle of Wight Military Aid Fund to provide incorne for benevolence at the 21M14 level until the year 2050, at which point it is assumed that the need for benevolence will have reached a very low level due to lack of people who qualify for help according to the cuent rules. As the number of clairnanL8 falls, the fund will be able to accept a greater share of the burden thus reducing claims on The Soldiers, Charity (The Anny Benevolent Fund). STRUCTURE, GOVERNANCE AND iKANAGEMENT Governfing document On 9th December 2021 th¢ Hampshir¢ & Isle of Wight Military Aid Fund became linked to the Royal Hampshire Regitnent Con]rades' Asso¢iation, at which point the name was changed to the Royal Hampshire Regiment Welfare Fund. The basi¢ tenets of the scheme have not ¢hanged from the governing document. dated April 2003. Risk management l. The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. 2. Investments are managed by BNY Mellon who, with the Trustees, will ensure that they are sufficiently diverse. REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Charity number 246902 Printipal address Serle's House Southgate Street Winchester Hampshir¢ S023 9EG Page 2
The Ro al Ham shire Re Iment Welfare Fund Re rt ftheTr e Year End tees r 2024 Trustees Col SAC Frere-cook MBE Lt Col CF Warren OBE Brig TAL GI&ss Brig DA HTison MBE DL Col PA Davis CBE Lt Col SJ Nye MBE Maj MF Pearce Capt J M Curtis Ms A E Stone Chairnian Secretary Lt Col CA Bulleid Independent Examiner Wheeler & Co Ltd Chartered Accountants The Shrubbery 14 Church Street Whitchurch Hampshire RG28 7AB Approved by order of the board of trustees on ..... and signed on its behalf by: Col SAC Frere4ook- Trustee Page 3
Inde endent Examlner's Re ort to the Trnstees of The Ro al Ha shire Re iment Welfare Fund Independent examiner's report to the trustees of The Royal Hampshire Regiment Welfare Fund I report to the charity trustees on my examination of the accounts of The Royal Hampshire Regiment Welfare Fund (the Trust) for the year ended 31 st December 2024. Responsibilities and basis of report As the charity trustees ol the Trust you are responsible for the preparation of the accounts in accordance with the requirernents of the Charities Act 2011 (Ihe Act,). I rert in respect of my examination of the Trust's accounts carried oul under Section 145 of the Act and in carrying out my exarnination I have followed all applicable Directions given by the Charity Commission under Section 145(5Xb) of the Act. Independent examlner's stalement I have completed my examination. I confirni that no material matters have come to my attention in connection with the examination giAllg me cause to believe that in any malerial respect: accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or the accounts do not accord with those records: or the accounts do not comply with the applicable requirements concerning the fonn 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 considered as part of an independent examination. I bave 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 understanding of the accounts to be reached. Kevin Wheeler FCA Wheeler & Co Ltd Chartered Accountants The Shrubbery 14 Church Street Whitchurch Hampshire RG28 7AB Page 4
The Ro al Ham shire R Fund iment Welffdre t8 ement of FinYdDcial Activitie I t December 2024 31.12.24 31.12.23 Hampshire & Isle of Wight Military Aid Fund Comrades, Association General Fund Total funds Total funds Notes L¥COME AND ENDOWMENTS FROM Donations and legacies 985 985 1,872 Other trading a¢tiviti¢s nvestsnent incorne 750 750 490 Total EXPENDITURE OIY Charltable aetlvltles Charitable grants and th)nations Comrades, activities In support of the regimental museum In support of the memorial garden ,107 8,107 2,261 88,309 223 10.817 1,965 70.074 1.312 2,261 88,309 223 Other Total Net gains on investments 121612 NET INCOME 54.695 45,071 99,766 91,179 RECONCILIATION OF FUNDS Total funds brought forward 936,147 846,668 1,782,815 1,691,636 TOTAL FUNDS CARRIED FORWARD 891739 1882 581 1782 815 The notes forn] part of these fmancial statements Page 5
TheRo alHam shlreRe Fund fiment Welfare Balance Sbeet eember 2024 31.12.24 31.12.23 Hampshire & Isle of Wight Military Aid Fund Comrades, Association General Fund Total funds Total funds Notes FIXED ASSETS Tangible assets Investh]ents io 2,300 961679 2,300 1799 228 2,300 1717616 837 549 963,979 837,549 1,801,528 1,719,916 ctFRRENT ASSETS Debtors Cash at bank 12 14,262 14,262 11,762 28,588 54,190 82,778 64,594 CREDITORS Amowits falling due within one year 13 (1,725) (1,725) (1,695) NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES 990,842 891,739 1,882,581 1.782.815 NET ASSETS 990 842 891739 1882 581 1782 815 FUIYDS Unrestricted funds: Comrades, Association General Fund The Hampshire & Isle of Wight Military Aid Fund 14 990,842 891,739 936,147 846,668 1882 581 1782 815 TOTAL FUNDS 1882 581 1782 815 The fmancial Statements wer¢ approved by the Board of TTUStees and authorised for issue on .. and were signed on its behalf by.. SAC Frere-Cook- Trustee The notes forn] part of these financial ststements Page 6
The Ro al Ham shire Re IEnent Welfare Fund Notes to the Financial Statements for the Year Ended 31st December 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the clwity, which is a public benefit entity under FRS 102, have been prepared in accordanc¢ with the Charities SORP IFRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing th¢irawounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of treland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 'Th¢ Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The fllW]cial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain a55ets. Ineome All income is recognised in the Stdtemenl of Financial Activities once the charity has entitlement to th¢ fimds, it is probable that the income will be received and the amount can be measured reliably. Expendlture Liabilities are recognised as expenditure as soon &s there is a legal or constructive obligation committing the ¢harity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement gnd the amounl of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all c05t relal¢d to the ¢at¢gory. Where costs cannot be dIrtIY attributed to particular headings they have been allocated to activities on a basis consistent with the us¢ of resources. Grants offered subject to conditions which have not been met at the year-end date are noted as a commitment but not accrued as expendittlre. Allocation and apportlonment of costs As coThfned at the Trustees, Meeting on 26th June 2015, the chariry incurs a charge of 75Q/o of the management and administration costs of the rnnning the Regimentsl Trust. Tv4nglble fixed assets Depreci&tion is provided at the following annual rates in order to write off each asset over its estimaled useful life. Freehold property not provided Taxatlon The charity is exempt from t&x on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trust¢es. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by tbe donor OT when funds are raised for particular restricted purposes. As agreed at the Trust¢¢s' Meeting on 26th June 2015, the funds which for decades had been designated as restricted and unrestricted should b¢ combined The history of these funds dates back to just after the Second World War when certain money had been donated forthe benefit solely of those Comrades who had been Prisoners of War. It was agreed that as the number of Comrades still alive who fell into this category was in single figures and this was the tirne to combine the funds. The cases for all comrades (th05e who had been prisoners of war and those who had not) are all dealt with the same. Pensfion costs and other post-retlrement benefits The charity operates a defmed contribution pension scheme. Contributions payable to the charity's pcnsion scheme &re cbarged to the Statement of Financial Activities in the p¢riod to whÉch they relate. Page 7 continued...
The Ro al Ham hire R Fund iment Welfare Iyoles to the Financial Statements - continued he Year Ended 31st December 2024 DONATIONS AIYD LEGACIES 31.12.24 31.1223 Donations Subscriptions 325 660 1.252 620 985 OTHER TRADING ACTIVITIES 31.12.24 31.12.23 Reunion Newsletter Wreaths 350 360 40 370 120 750 490 INVESTME INCOME 31.12.24 31.12.23 Dividends received Interest received 39,125 348 40.018 308 CHARITABLE ACTIVITIES COSTS Grant funding of tivitxes (see note Support Costs (5¢e note 7) Direct Costs 6) Totals Charilable grants and donations Comrades, activities tn support of the regimental museum In supp)rt of the memorial garden 8,107 8,107 2,261 88,309 223 2,261 82,342 223 5,967 GRANTS PAYABLE 31.12.24 31.12.23 Charitsble grants and donations The total grants paid to individuals during the year was as follows: 31.12.24 31.12.23 Individuals Page 8 ontinued...
The Ro al Ham hire Re Fund iment Welfare Notes to the Financial Ststem nts - tontlnued ar Ended 31st Decem SUPPORT COSTS Governance costs Management Totals Other resources expended tn support of the regimental museum (40.444) 4,598 (35,846) Support costs. included in the abov¢, ar¢ as follows: Management 31.12.24 31.12.23 support ofthe regimental museum Other resources expended Total activities Totsl activities Staff salaries Travelling expenses Telephone Office costs Sundries Cleaning Trustee meeting costs Trust costs allocation Less PWRK Contribution 19,810 19,810 416 1,185 3,453 510 953 446 (58,250) 18,000 235 1,105 2,993 124 955 943 (58,000) 416 635 3,453 510 953 550 446 (58,250) Governanee eogts 31.12.24 Other resources expended 31.12.23 Total activities Legal fees Accountancy 3,428 Page 9 continued...
The Ro Al Ham shlre Re iment Welfare Fund Notes to the Financial Statements - continued he Year Ended 31st December 2024 TRUSTEES, REMUNERATION AND BENEFITS There were no ttustees, remuneralion or other benefit5 for the year ended 31 st December 2024 nor for the year ended 31 st December 2023. Trusteej, expenJe5 There were no trustees, expenses paid for the year ended 31st December2024 nor for the year ended 3 1st December 2023. STAFF COSTS The average monthly number of employees during the year was as follows: 31.12.24 31.12.23 Administration Museum No employees received emoluments in excess of £60,000. 10. TANGIBLE FIXED ASSETS Freehold property COST At I st January 2024 and 3 1st December 2024 NET BOOK VALUE At 3 1st December 2024 At 3 1st December 2023 ii. FIXED ASSET INVESTMENTS Unlisted investments MARKET VALUE At 1st January 2024 DispK)sals Revaluations 1,717,616 (40,000) 121612 At 3 1st December 2024 1799 228 NET BOOK VALUE At 31 st December 2024 1,799,228 At 31st DeC¢mr 2023 1717 616 There were no investment assets outside the UK. Th¢ historic cost of investmts is £1,170,079. revaluation £629.149 (2023 - £507,537) Page 10 continued...
The Ro IHam hire Re Fund iment Welfare Note5 to the Financial Sta ar Ended 31s emen continued 12. DEBTORS: AMOUI¥4TS FALLING DUE WITHIN ONE YEAR 31.12.24 31.12.23 Inter trnst balances Prepayments and ac¢rued income 11,222 11,222 540 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.24 31.12.23 Accrued expenses 14. MOVEMENT IN FUNDS Net movement in funds At 31.12.24 At 1.1.24 Unrestrleted funds Cornrades, Association General Fund The Hampshire & Isle of Wight Militsry Aid Fund 936,147 54,695 990,842 891739 1782 815 1882 581 TOTAL FUNDS 1782815 1882 581 Net movement in funds, included in the abov¢ are as follows.. Incoming resources Resources expended Gains and losses Movernent in funds Unrestrlcted funds Comrades, Association General Fund The Hampshire & Isle of Wigbt Military Aid Fund 21,658 (31.897) 64,934 54,695 31157) 121612 TOTAL FUNDS 63 054) 121612 Pagell continud..
The Ro al Ham hire Re Fund 'ment Welfare Notes to the Fin8ncRal Statements - Continued 14. MOVEMENT IW FUNDS - continued Comparatives for movement in funds Net movement in fid$ At 31.12.23 At 1.1.23 Unrestrlcted funds Comrades, A550ciation General Fund The Harnpshire & Isle of Wight Military Aid Fund 888,752 47,395 936,147 802 884 1691636 1782 815 TOTAL FUNDS 1691636 1782 815 Compardtive net movement in funds, included in the above are as follows: Incoming resources Resources expended Gains and losses Movement in funds Unrestrieted funds Comrades, Association General Fund The Hampshire & Isle of Wight Military Aid Fund 23,119 (26,802) 51,078 47,395 20 340) TOTAL FUIYDS 47 142) IS. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 3 1st December 2024. Page 12
The Ro al Ham shire Fund iment Welfare Delailed Slatement of Finaneial Activities he Year Ended 31 t 31.12.24 Unrestricted funds 31.12.23 Total fun(ts INCOME AND ENDOWMENTS Donations and legAeies Donations Subscriptions 325 660 1,252 620 985 1,872 Other tradfing actlvities Reunion Newsletter Wreaths 350 360 40 370 120 750 490 IDvestment Ineome Divid¢TJds received Interest received 39,125 348 40,018 308 Total Ineomlng resources 41,208 42.688 EXPENDITURE Charitable actlvltles Museum - wages Mus¢um - social security PeTh5ions Annual Reunion Wreaths Subscriptions Comrades, Esprif de Corps Museurn - HCC service charges Mu5¢um - volunteers, expenses Museum - IT support Garden - m¢rnorial bench Garden - maintenanr Grants to individuals 66,526 299 1,524 350 202 585 1,304 7,500 186 6,127 60,406 996 275 544 540 1,146 2,500 420 3,721 1,252 60 223 92.933 82,677 Support costs Management Staff salaries Travelling expenses Carried forward 19,810 416 20,226 18,000 235 18,235 This page does not forni part of the statLrtory financial statements Page 13
The Ro al Ham Shire Fund iment Welfare etail¢d Statement of Financial Activitie5 orth Y rEnded3 24 31.12.24 Unrestricted funds 31.12.23 Total funds Management Brought forward Telephone Office costs Sundries Cleaning Trustee meeting costs Trust costs allocation Less PWRR Contribution 20,226 1,185 3,453 510 953 446 (58,250) 18,235 1,105 2,993 124 955 943 (58,000) (34,477) (36,645) Governance costs Legal fees Accountancy 3,428 Total resources expended Net Income This page dS not forni part of the statutory fu1claI statements Page 14