## **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