RN TROPHY FUND
STATEMENT OF ASSETS AND LIABILITIES
31-Mar-23
31-Mar-22
Assets
| Fixed Assets Notes Trophies 5 Fund Property Total Fixed Assets Current Assets Current Accounts Charities Deposit Account Petty Cash PayPal Misc Debtors & Prepayments 3 Total Current Assets Current Liabilities Account Examination Net Current Assets Net Assets Represented by: General Purposes Fund Commissioning Grants Fund 4 |
25,802,270.00 £ 69.00 £ |
25,911,962.00 £ 69.00 £ 25,802,339.00 £ 189,075.57 £ 101,535.28 £ 86.75 £ - £ 20,423.60 £ 311,121.20 £ 175.00 £ 175.00 £ 323,428.13 £ 26,125,767.13 £ 26,115,767.13 £ 10,000.00 £ 26,125,767.13 £ |
25,912,031.00 £ 310,946.20 £ |
|---|---|---|---|
| 206,435.10 £ 103,369.91 £ 33.00 £ 1,603.63 £ 12,166.49 £ |
|||
| 323,608.13 £ 180.00 £ |
|||
| 180.00 £ |
|||
| 26,222,977.20 £ |
|||
| 26,205,977.20 £ 17,000.00 £ |
|||
| 26,222,977.20 £ |
Approved on 25 May 2023 on behalf of the Trustees
Signed on Original
Commodore J Voyce OBE Royal Navy
1
RN TROPHY FUND
Receipts and Payments Summary
1 Apr 22 - 31 Mar 23
| Investment Account Area Receipts Deposit Account Interest Payments Silver Purchases 7,500.00 £ Picture/Painting Purchases 4,695.00 £ Other Purchases 3,310.00 £ Payments exceed Receipts General Hire Account Area Receipts Hire Fees 35,972.50 £ Recycling Note 6 5,166.00 £ Bank Charge Refund 257.25 £ Payments for losses & damage - £ Payments Silver Repairs 36.00 £ Painting Repairs 912.00 £ Other Repairs 3,064.35 £ Insurance 2,502.70 £ BRNC Valuation - £ Valuation - Russian Artefacts - £ Trustee Meeting - £ Bank Charges - £ Leaving Presentation - £ Office Items 11.99 £ PayPal Charges 104.30 £ Account Examinations 350.00 £ Receipts exceed Payments Bank, & Cash Balances @ 1 Apr 22 Investment Area - Payments exceed Receipts General Hire Area - Receipts exceed Payments Bank, Paypal & Cash Balances @ 31 Mar 23 |
1,834.63 £ 12.06 £ 9,500.00 £ 2,000.00 £ - £ 15,505.00 £ 11,500.00 £ (13,670.37) £ (11,487.94) £ 24,316.16 £ - £ - £ 15.45 £ 41,395.75 £ 24,331.61 £ 300.00 £ 937.31 £ 9,506.00 £ 2,502.70 £ 360.00 £ 1,048.22 £ 21.65 £ 40.60 £ 64.04 £ - £ - £ 350.00 £ 6,981.34 £ 15,130.52 £ 34,414.41 £ 9,201.09 £ 290,697.60 £ (13,670.37) £ 34,414.41 £ 311,441.64 £ Previous Year |
1,834.63 £ 12.06 £ 9,500.00 £ 2,000.00 £ - £ 15,505.00 £ 11,500.00 £ (13,670.37) £ (11,487.94) £ 24,316.16 £ - £ - £ 15.45 £ 41,395.75 £ 24,331.61 £ 300.00 £ 937.31 £ 9,506.00 £ 2,502.70 £ 360.00 £ 1,048.22 £ 21.65 £ 40.60 £ 64.04 £ - £ - £ 350.00 £ 6,981.34 £ 15,130.52 £ 34,414.41 £ 9,201.09 £ 290,697.60 £ (13,670.37) £ 34,414.41 £ 311,441.64 £ Previous Year |
|---|---|---|
| (11,487.94) £ |
||
| 24,331.61 £ 15,130.52 £ |
||
| 9,201.09 £ |
||
2
RN TROPHY FUND
Notes to the Accounts dated 31 Mar 23
Note 1 - Accounting Policy
The accounts have been prepared on a receipts and payments basis
Charity Law requires the Trustees to prepare financial statements for each financial year which comply with the regulations set out in the Charities Acts. The Trustees have elected to take advantage of the provisions that apply to small charities and have arranged for Receipts and Payments accounts and Statements of Assets and Liabilities to be prepared
Note 2 - Investments
None held
Note 3 - Misc Debtors
| Outstanding 2260 payments Outstanding hire payments - 22/23 Outstanding hire payments - previous years JP Morgan Dividend Insurance prepaid |
1,684.00 £ 5,719.00 £ 3,147.00 £ 260.49 £ 1,356.00 £ |
|---|---|
| 12,166.49 £ |
Note 4 - Commssioning and Other Grants
Funds set aside for the next 12 months for trophies and oil paintings for following ships and establishments. Up to £10,000 for new ships.
| HMS Medway HMS Pegasus Portsmouth NB State Funeral (Contingency) |
1,000.00 £ 2,000.00 £ 2,000.00 £ 5,000.00 £ |
|---|---|
| 10,000.00 £ |
Note 5 - Trophies
It has been established that the trophies held are the property of the Royal Navy Trophy Centre. The Trophy Centre has control of all trophies but the bulk of trophies are held at other sites, which are responsible for security and insurance. The items held in the Trophy Centre are insured for £2,600,000 with £50,000 cover for items in transit.
Note 6 - Recycling
The Trophy Centre held an amount of items which cannot be issued on loan, many of which were for smoking related items. A provisional list of such items was prepared and the Trustees gave approval to write off items with a book value of £123.7K. These items will be sold for recycling, once the Service identifying marks have been removed. The first batch raised £5.2K. A further check for items with historical connections will be completed before the Trustees approve the final list for disposal.
3