Charity registration number 248713 ROYAL MILITARY POLICE CENTRAL BENEVOLENT FUND ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ROYAL MILITARY POLICE CENTRAL BENEVOLENT FUND LEGAL AND ADMINISTRATIVE INFORMATION Trusteès EX￿￿¢10 Brigadier S L PriThJle-Smth MrRAPotts Warrant Officer (Class 11 J RaddiffeAGC {RMPI Nominat¢d Colonel D Dray MBE Lieutenant Cckjnel KA GarwoodAGC RMPI Elected Mrs J Bratton Rear-Adrniral S M R Moowhouse CBE Brigadiei M Nugenl CBE Corw)raJ D Robertson AGC IRMPI Secretsry & Fund Controller Cobnel J T Green OBE IReb"red) Benevolen¢e Grants Offieèr Major S E Brooks (Retired) Charity number 248713 Piincipal addrè$$ Regimentsl Headquartet5 Royal Milrtasy Police Southwid¢ Park {Posial Point 381 Hampshire Ni. Faieham P0176EJ Auditor SumerAudil Piper House 4 Dukes Court Bognor Road ChKhesler West Sussex P019 8FX Bankers Bardays Bank pk 74175 East Street Chichester West Sussex P019 1HT CCLA ICOIF Charities Deposrti One Angel Lane London EC4R 3AB InV￿tMent advisors RBC Brewn Dolphin Limrted 100 Bishopsgate London. EC2N 4AA ROYAL MILITARY POLICE CENTRAL BENEVOLENT FUND CONTENTS Page Truslees report Statement of trustees responsibrfities Independent audrtorfs report Statement of finanaal activrties Balan￿ sheet 10 Notes to the financial statements ROYAL MILITARY POLICE CENTRAL BENEVOLENT FUND TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and finarKial statements for the year el￿ed 31 Marth 2024. The financial stalements have been p￿pared in acc£)rdance wrth the accounting poliaes set out in note 1 to the financial statements and comply with Ihe Trust's deed. the Chatities Act 2011 and "Accounting and Rèporting by Charities.. Statement of Recommended Practice appb"cable to charities preparing their accounts In accordance wtth the Financial Reports"ng Standard appIl￿ble in the UK and Republic of Ireland {FRS 1021 leffeclive 1 January 20191" Obiectives and activilies The Royal Military Ptslice VRMVI Cerrttal Benevolenl Fund fThe FuThJ"I was established by Charitable Tnjsl Deed on 31 January 1944, under the provisions of the ¥Nar Charities Act 1940. The Trust Deed was amended in 1993. On 19 June 1998. a new Scheme fThe Schemel was matje by the Charrty Commission. On the 25 January 2019. the Stherne was arnended {cku5e 51 so as to prowde for the appointment to, and cA>mpositi'on of. the Fund's goveming wmmrtlee. The objecl of the Fund is.. To maintain and increase the military effi(J"ency and esprtt de corps of ihe RMP and.. To relieve the need hardship or distress of beneficiaries. The Irustees have paid due regaid Io guidan￿ issued by the Charity Commission in de(#ding what actimties the Trust should undertake. Achievements and perfomiance Since the late 1970.5 the Fund was funded primarily by SL￿￿sSIVe generations of serving Mililary Police wlK* made substantial voluntary donations through the Armed Forces, Payroll GNing Stheme (now kriown as thè'one Day's Pay Gwin9 Scheme'l to the F¢Jnd. They did this in iecognttion of the enduring bond Wh￿￿ exists within the Military Poli¢e 'family' and their wish ol ensuring that those in need, for whalevei reason. continued to be cared for. Sincé Apnl 2019, however. the majorlty {100%1 of One Day's Pay Giwng by semng rnembers ol the RMP is given to the Adjulanl-General's Corps I-AGCI Assoa3b"on and the Fund now rel￿5 upon Income from its investment portfolio and from donations In a￿drt￿n to the 18°A of the One Davs Pay Gimng Stheme re￿ip1S it retains. The trustees wish to re[￿rd Iheif thanks lo the f(Altswing organtzations, Wh￿ provtde advice. financial asslstance care. guidance and cotnfort to soldiers. former soldiers and their dependents. Wrthout their work the Fund would be unable to help Ihose who have found themsefves in need. disabled. distressed, (x bereaved". ABF . The Soldiers. Charity SSAFA- The Armed Forces Chatty The Royal British Legion & Poppy Scotland The Confederalion of Service Chartbes The Royal Military Poli￿ Association The Royal Hospital, Chelsea ve1￿3n5 Bereavement Support & Aftercare Seryices The Lan1￿cOrpOral Ben Hyde Mernorial Tnjst The Royal Commonwealth Ex-SerwrEs League The Officers. Assouation Walking Wrth The Wounded The Adjutant Gefteral's Corps Assoaalion and other Reyirnental and Corps Benevolent Funds The ABF-Thè Soldiers, Ch31ty is once again deseNng of mention a5 it has helped seNing and fom)er merrbers of the RMP and their immediate families over the last finanual year and has alsts paid for two annuities for eligible widows and veteians. The ABF also supports individuals direcity wa grènts paid through other charitie5 and its enduring suppori lo the Amiy Recovery Progfatnrne on behatr of the Fund and all other Regimental and Corps charities. ROYAL MILITARY POLICE CENTRAL BENEVOLENT FUND TRUSTEES REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Legaciès: The Fund received a £1.IK)O.00 legary from the estate of Lieutenant-Coh)nel L Murray MBE. Payrall Giving: Wrth effect 1 April 2019. the RMP Onè-Day's Pay Giwng Stheme was converged with the AGC A550riation, of which rt Is a part. so the Fund no longei benefits from all that income stream. Serwng members of ttte RMP cc>nliibule 118°/o of a Day s Pay and now 1CKI% is transferTed to Ihe AGC A$s(￿tiOn. while the Fund retains the balance. Benevolenc•: Calls for bènevolence supp(*t decreased in the last year from 93 (3ses in 2022Q023 to 74 cases during Ihi5 period. and the average amount gifted (for 61 approved cases) incteaseij from an aver3ge of £898.64 In 20221 2023 10 £942.49. Responsiveness to (xlls for financ￿1 assistance continued to be very good and on¢e again the Fund has been told, anecdotally. that it had maintained its good reputation lor speed of response. Ils broad s¢ope. and its Ilexibilrty in the handling ol casewor Financial review Benevolence Grants: Grants to irKlividuals during this peri¢)J totalled £59.315. This induded.. From General Fund5'. Individual Grants". Christmas Giants". £57.315 £2,000 From ReslrKted Funds-. NIA Of Ihe 74 applicatic>n5 fof grants re￿1ve￿. 61 were approved and 13 were refvsed. In general, refusals were made on the basis that the applicants were not entrtled to SUPFK¥t i.e.. no connection wrth the RMP. the request for support was Out-ol-scope of Ihe Fund's grant giving policy, or the need had been rnet already. There were no applicaticTrns carried forward to the new accoijntsng penod. In addilron. the Christmas G¥anls of £100.00 were approved for 18 people who had ¥ecewed an indiwdual benevolent grant prewously and weie over 80 years of age. This is again down from previous years. a trend that has been maintained since 2012. Addrtionally, 7 RMP and 1 WRAC IProvostl ln-Pen5￿nerS resident at Ihe Royal Hospilal Chdsea. who wished to receive a 'Chrislmas Box,. were given £25.00. a sum set in ac4ordance wrth the Royal Hosprtal's extant Christmas Grants Policy. The Fund has increased its Un￿StrICted ie5erves by £484.754 to £5.573.87fj. Reservè$ Policy It is the policy of Ihe charity that LSnre5tncted funds whith have nol been designated lor a specffic use should be maintained at a level equivalenl to three to Six-month's expenditure. The Trustees consider that reserves al this level will ensure that, in the event of a s￿n￿{￿nt drop In funding. Ihey will be able to continLte the charty's current activities while consi¢Jeralion is given to ways in which addilK)nal funds may be raised. This level of reserves had been maintained throughout the perK)d. ROYAL MILITARY POLICE CENTRAL BENEVOLENT FUND TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARGH 2024 Incorne: Income to Ihe Fund is derived from a number of Sour￿.. Donatlon$ Since 2013. ienewed efforts have been made to attrad donab.ons from other soui(%s other than the One-oay's Pay Giwn9 Scheme and lo date, yeai-ofFyear. some not Insign￿l¢ant amount5 of additional money has been raised and donated by the seNing RMP, RMP veterans. rTrembers of the public and other individuals. donations over £50.00 are recorded annualty {for the calendar yearl and are then published in the Apiil edition of the RMP Joumal. The Sums (lonated for the year ending 31 December 2023. arnounled to a loial of £16.653.41, which does not indude those ofF￿r5 "In Receipt of Rebred Par and Iotrnei Non-c0￿mIssIOned Offi{￿r5 who generously continue to donate Ihe equivalent of eTther a dav5 pay or a day'5 pensKJn to the Fund every year. Invesknents Throughout the period RBC Brewin Dolphin Limited has conlinued to manage thè Fund's portft>lTO of investment5. RBC Brewin Dolphin has discretionary powers to buy and sell acujrding to markel trends and in line with the Trustees Investment policy ol'medium growth and medium risf to achieve an income of not less than £90,000 pèr annum. The market value ol the portfdio is £5.130.787. Income over this peri(Kl decyeased to £103,791 from £108,966 in the previous period whith reflecis the uncertainlies in the maFket over the majorty of this period, but remain within ￿quireMent. Risk lactors The Trustees have assessed the major nsks to whth the chartty is exposed and are satisfied that systems are in place to mitigate exposure to major rTsks. Public Benefit The Irustees have paid due regèrd to the Char7ty Commission's 'Guide on Public Benefrt. in deciding what activitie5 the Charity should undertake. The sole aim of the Fund is to support the RMP 'family. which includes those whc> contnbute lo the defence of the nation and ils interests and to those who have done so in the past. 8y the giving ol fin3n(xal granls. the Fund has also enab￿ other RMP and Arrny related tharIt￿S to maximrLe their benefit in support of the RMP, Its Associatjon. its veterans and their dependents and has contributed directly to activity that increases the effiuency. effectiveness. and esprit de corps of Ihe nabon's Military Police while often. the swift intervention by the Fund prevents the claimant having to call on the Stale s resources for assistance. Asset covér for funds Note 21 sets out an analysis ol the assets aitribulable to the various fvThJs and a de￿ptIOn of the Trusts. These assets are suffitient lo meel the ¢*arit￿S obligth.ons on a fund-by-fund basis. Structurè, governanee and management The polici95 adopted in furtherance of these obieLts are managing Ihe inveslmenl portfolTrti vra BTewin Dolphi Limited and encouraging donations. ROYAL MILITARY POLICE CENTRAL BENEVOLENT FUND TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The Trustee5 who seThed during the year aNJ up to the datè of signature of the fina￿al slatements were: Brigadier V W Buck (Chwr of Trustees) replaced by Br￿￿er S L Prir#Jle4milh on 16 ju￿ 2023,. Rear-Admiral S M R Moofehouse CBE. Brigadier M Nugent CBE., Colonel K P Rolchell Ivice-chair) repraf￿ by Cob)nel D t)w MBE ￿ 30 thjne 2024,. Lieutenant-colonel K Gatwood AGC {RMP): Mrs J Bratton: MrRAPotts Warrant Officer {aass 1} J MillerAGC IRMP) by Wamt Officer (Class 1) J RadcfiffeAGC {RMPI on 30 August 2024 co￿Or31 T SluartAGC (RMP) reFAaced ty Corwr81 D Robertscffl AGC {RMP) on 1 November2024 The Trustees have the power to appint an Inveslment Manager and to delegate to him￿rdIsCr0tlonary powers in relatw)n lo the management of the tharivs invesbw)ts. The Twstees also have the power to aptx)int a Corporate 8ody as the Tnjslee's nOMir￿ lo IKAd the in￿$￿ents of the clwtty. The current Investment Manager is Mr David Thomas. and the CryKate jRBC Brwn tk4phin Limited. With effect on the 1 April 2019, the RMP One Da￿S Pay Gmro Stheme CA)nW￿ that of the AGC ofwhich the RMP is a part. aTrJ be￿fiting directy those serve in the RMP ￿ have served in thg RMP Sin￿ 2 April 1992. Decisions are tsken by the trustees actiThJ iojether at meebngs hgld at le8St fv￿ce per annum. The Regimental Secretsry as Fun(J Controller has been given delegated wwers to deal %wth benevdeThx g￿15 UP to £1,500.00 wlthout refeience. The Regimentsl Secretary rxowdes Ihe truste8s ￿ a summary of all cases dealt wth at every trustee meeting. Ap￿i￿nts lor Thbjney MO￿ than £1.5￿.￿ are cxmsidered by a separate Benefits Committee, the Fund's only suwmmittee up to a Ceiling of £3.OCQ.00, whilsl any appli(ations over £3.000.00 are placed before the full Board of Trustees. The Benefits Cc¥nmiltee is thaired by the Commanding Officer of the SpecralFSt Operats"ons Regiment RMP {a nominated trustee). The other mem￿r$ are either hxally based trustees or nominated ttjmmittee mem The operational aclivilies of th8 Fwwj are restri￿ lo the twms of the Scheme dated 19 June 1998 las amended.) The Iruslees (and their bpannual twb"rvJs) control all expendibjre. Both the Fund Controller and Fund Holder have powers and financial limits (see above) delegated from the Trustees. Day404ay Lwsiness all case work contin￿S to be conducted by the Assistanl41egimentsl SecTetary. The trustees report was approved by the Board ofTrustees. rigadier S Prfn Chair of Trustees 4mith Dated.. ROYAL MILITARY POLICE CENTRAL BENEVOLENT FUND STATEMENT OF TRUSTEES RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The trustees are respOns￿le for preparing the Trustees Report and the financial statemènts in accordan￿ wth appli¢able law and United Kingdom Accounb"ng Standwds (Unrted Kingdom Genecally A(Lepled Accounting Practice). The law applicable to chant￿5 in England and ￿dIeS requires the trLtstees to prepare fjnancial Statements lor eath financial year whith give a true and fair view of the stale of affairs of the Trust and of the irTrcorning resour￿5 and application of resources of the Trust for that year. In preparing these financtal Statements. the trustees are required to.. - select sltitable accounting poliaes and then appty them ￿}nSISten￿.. - observe the methods and prinople5 in the Charihes SORP- - maka iudgernents and estimates that are reasonat4e and prudent", state whether applicable ac¢oun¢ing slandards have been fc41owed. subject lo any material departures disck)sed and explained in the fjnan(i¥ Statements". and prepare the finanual statements on the going conr£m basis unless it is inappropriate to presume that the tharity will continue in operation. The trustees are responsible loi keeping suffKienl accourrting recoft15 Ihat dr5dose wtth reasonab￿ acvjracy at any time the financial position of the Trust and enable thèm to ensure that the finanaal statements comply with the Charities Act 2011. the Charty IAccountS and Reports) Regulats"on$ 2008 and the provIs￿n5 of the trust deed. They are also responsible for Safeguarding the assets of the TnJ5t and hence lor taking reasonable step5 for the prevention and detethon of fraud and olher irre9ularilies. ROYAL MILITARY POLICE CENTRAL BENEVOLENT FUND INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF ROYAL MILITARY POLICE CENTRAL BENEVOLENT FUND Opinion We have audited the financial slalement5 of Royal Mli ttary Policè Cenlfal Benevolent Fund {Ihe 'Trust'l for Ihe year ended 31 Maich 2024 which comprise the statement of finanaal aciivib"es. the balance sheet and notes lo the financial staternents. induding significant accounb.ng piliues. The finanaal reporting tramewoik thai has been applied in their preparation is appli£3ble law and Uniled Ktngdom Accounting Standards, induding Finan￿al Reporting Stsndard 102 The Financial Reporting Sta￿an$ a￿￿￿Gable the UK and Republic of Ir&l8nd (United Kingdom Generalty Accepted Accounting Pradicel. In our opinion, the financial stalements.. give a ITue and fair wiew of the state of the d)arty's affairs as at 31 March 2024 and of its incA)mirtg ￿sOurceS and application of TesOur￿s, for the year thèn ended. have been property prepared in a(urdance with United Kingdom Gener￿ty Accepted Accounting Praclice," and have been p￿pared in accordance wtth the requirèments of the chant￿sAct 2011. Basis for oplnion We conducted our audrt in accordance wtth International Standards on Aud￿"ng (UK> IISAS IUIQI and applicable law. Our responsibilities under those standards are further desthbed in the Audilorfs respon&bilities for the audit ol the accounts section of our ieport. We are independent ol ihe Trust in accordance with the ethic￿ requirements that are ielevant to our audrt of the accounts in the UK. including the FRC'S Ethrcal Standard. and we have fulfilled our other ethical responsibilities in accordance wrth these requirements. We believe that the audit ewdence we have obtained is sufficient and appropriate to provide a basis for IXJT O￿niOn. Conclusions relating to goin9 conctm In auditing the finanoal staiemenls, we have conduded Ihat the twstees use of the going concem basis of accounting in the preparation of the finanryal statements is appropriate. Based on Ihe work we have perfcxmed. we have not identffied any malerial uncertainlies relating to events or conditions that. indiwdualty or collectively, may cast signtficant doubt on the TtU5t"s ability to continue as a going concein for a period of at least twelve months from when the fjnanaal slatemenrs are authorised for issue. Our responsibilrties and the responsibilities of the tnjstees ¥Yth respect to going con(%rn are described in the relevant sections of this report. Other infomiation The other information r4)mprises the inlomafyon induded in the annual report other than the financial slalements and our auditorfs report the￿On. The trustees are responsible foi the other informatii)n contained wrfthin the annual report. Our opinion on the financ4al sta(emenls does rK>t cover the other inlomialion and we do not expre55 any f(>rrn of assurance condusion thereon. Our responsibility is to read the olher information and, in doing so, consider whether the other infomab.on is malenalfy Ineonsislent with the finanrial statements 01 our knowledge obtailled in the course of the audit. or olhetmse appear5 to be matenalty misstated. If we identify such material inconsi51encies or apparent material misstatements. we are required to determine whether this gNes rise to a material misslalement in the financial statements Ihernselves. 11. based on the work we have performed. we condude that there is a material misstatement of this other informats"on, we ale required to report that facl. ¥Ne have nothing to report in Ihis re9ard. Matters on which w8 are required to report by exception We have nothing lo report In respect of the folk)wing matters in relation lo which the Charities {AccLJunts and Reports) Regulations 2008 require us to report to you rf. in our opinion". the Information given in the financial statements is inrA)nsistent in any material iespect with the trustees report". or sufficient accountrng records have not been kept.. or thè fillanci￿ statements are not in agreement with the accounting iecords.. or we have not received all the inlorniation and explanation5 we requiie for our audrt. ROYAL MILITARY POLICE CENTRAL BENEVOLENT FUND INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ROYAL MILITARY POLICE CENTRAL BENEVOLENT FUND Responsibilities of trustees As explained mole fully in the stalelnent of trustees responsrbI￿l￿$. the tnjstees a￿ responsible for the preparation of the financial slatemenis and lor being satisfred lha( they give a Irue and fair Mew. and for SLJ¢h internal control a5 (he trustees determine is ne￿$sary to enable Ihe preparatson of financial statements th31 are free from material misstatement. whether due to fraud or erTor. In preparing Ihe financial slatemenls, the tru51ees are responsible for assessing the Trust's abilty to conb.nue as a going concern. disclosing, as applicable. matters related to going concem and using the going concem b3sis of accounting unless the Irustees either intend to cease operations. or have no realistic alternative btrt to ¢Jo so. Audito￿5 responsibllloès for the audit of thè financial statem•nts We have been appointed as auditor under section 144 of the CharIt￿S Ad 2011 and ieport in ac£oTdance with the Ad and relevant regulations made or having effed thereundet. Our objedives are lo obtain reasonab￿ assurance about whether the financxal statements as a whole are free frorn material misstaternent. whether due to fraud or error. and to issuè an audttorfs report that Indudes our opinion. Reasonable assurall￿ Is a high level ol assurance but is not a guarantee that an audit conducted in accordance with ISAS IUKI will a￿lay5 detect a material misslatement when rt exists. Misslalements G3n arise from fraud or error and are considered material rf. individually or in the aggregate. ihey could reasonabty be expected to inflLJence the economiG de￿s1OnS of users tsken on the basis of these financial statemenls. Identification and assessment of irr8gularities including fraud Irregularities. Induding fraud, are instances of non-complhqnre with laws and regulations. Vve design procedures in line with our responsibilth"es, oullined above, lo detect fflalerial misslalements in iespect of irregularities. including fraud. The extent to which ottr priK%dures are capable of detecting Irregulai￿"es. induding fraud, is detailed below. In ide¥)tifying and assessing nsks of material misstatemènt in respect ol irreoularitiès. induding fraud and non- cotnpliance with laws and regulations. our procedures indu(led the followtng- Obtaining an understanding of the legal and regulatory framework that the chanty operates in. focusing on those laws and regulations Ihal had a direct effect on the finanaal slaiements and operations." Obtaining an understanding of the chantvs pdiues and pr¢xedures on fraud risks. induding knowledge of any actu81. suspected or al￿ged fraud,. Discussing arllong the engagement team how and Whe￿ fraud might occur in the financial statements and any potential indiG3tors of fraud through our knovAedge and undersianding ol the company and our sector-specif experience. As a result ol these procedures. we considered the opportunitses and in￿ntiveS that may exist within the asso¢i3tion foi fraud. We are also fequiFed lo perfomi speafic procedu￿$ to rèspond to the risk of managernenl override. As a result of performing Ihe above. we identtfied the following arèas a5 those most likety to have an impact on the financial slalements.. heatth & safety and empbyment law. as well as compliance with the UK Companies and Charities Acls. ROYAL MILITARY POLICE CENTRAL BENEVOLENT FUND INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ROYAL MILITARY POLICE CENTRAL BENEVOLENT FUND In addthon to the above, our pro(xdures to respond lo risks Klentified indudÈil Ihe following.. Making enquiries of managefflenl about any known or suspected instsnces of norpcompliance with laws and regulaltons and fraud.. Reviewing minutes of meetings of Ihe board and sen￿r managemenL Reading correspondence with regulators Challenging assumptions and judgements made by managemenl in thar significanl accounting estimates". and Auditing the risk of management ovetride of controls. induding Ihrough testing journal entn.es and other adjustments for appropriateness. Due to the inherent limilalions ol an audrt. there is an Unavoidab￿ risk ihat some material misstatements in the financial slalements rnay not be deteded. even though the audit is property planned and performed in accordance with the ISAS IUKI. For instance. the further rernoved non-compliance is from the events and transactions reftected in the finanaal 5taternenls, the te55 likely Ihe audrtor is to become aw￿ of rt or to recognise the notFcompliance. A further description of our responsibilrties is available on the Financial Reporting Counol's website at.- hltps'.11 ¥Thw.frc.org.uklauditorsresponsibilitEs. This description forms part of our audrtorfs report. Other matters Your attention is dfawn to the fact that the tharty ha5 prepared finan(Jal statements in accordan￿ wth "Attounting and Reporting by Charities_ Stalement of Re￿rnmended Praclice applicable to thariljes piepaiing their accounts in accordan￿ wilh Ihe Finanaal Reporting Standard applicablè in the UK aftd Republic of Iie18nd IFRS 1021 las amended) In prefèience to the Ac¢ountrng and Reporting by Charities. Statement ol Re¢ornmended Practice issued On 1 April 2005 which is refèrred lo in the extant iegulations but has now been withdrawn. This has been done in order for the finan(ial statemenls lo provide a Iwe and fair v￿W in accordance with current Generally Accepted Accounting Pradice. Use of our rèport This report is made solely to the tharty's truslees. as a body. In accordanr£ with part 4 of the Charitiès IA(Lounts and Reports) Regulations 2CXJ8. Our audti work has been undertaken so that we might slate to the chaiity's trustees those matters we are required to state to them in an audilorfs report and for no olher purpose. To the fullest exlent permitted by law, wè do nol accept or assume ièsponsibiljty to anyone olher than the d)arily and the chanty's trustees as a body. loi our audit work. for this rèport. or for the opinions we have lofflied. Sumer Audit Chartered Accountants Statutory Audltor Chlchester 0510312025 Sumor Audit is the trading name of SumerAudlt¢o Ltmited Sumer Audf( is eligible lor apwnlment as auditor of the Tnjst by wrtue of ils elwibilrty lor apwnlment as auditor of a company under sèction 1212 01 the CompanEsAd 2C(IS. ROYAL MILITARY POLICE CENTRAL BENEVOLENT FUND STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 As ￿$tated Total Unrestri¢ted Restiicted fullds fvnds 2023 2023 As restated Total Unrestricted Restricted fund5 funds 2024 2024 2024 2023 Notes Income from.. Donations and legaues Charitable activities Investments 18,492 144.851 119.2 18.492 144.851 119,2 30.383 151.015 114.520 30.383 151,015 114,52 Totsl income 282,633 282,633 295,918 295.918 Expenditur* on: Raising funds Charitable activilies 29,220 249,887 29.220 249,887 29.005 285.711 29.005 285,711 Total expenditure 279.107 279.107 314.716 314.716 Nel gainslllossesl on investments 12 470,432 470.432 {179.9361 1179.936} Net incomÈlleXpenditu￿I 473.958 473.958 (198.7341 1198,7341 Tiansfer5 befv4een fu5KIs 14 10.796 (lo.7￿) Ntrt movement in nds 484,754 110.796> 473.958 1198,7341 1198,7341 Reconciliation of funds: Fund balances at 1 Apnl 2023 5,089.122 10.796 5.099.918 5.287.8 10,796 5.298,652 Fund balances at 31 March 2024 5,573,876 5.573.876 5.089.122 10,796 5,099.918 The slatement of financial activitses indudes all gains and losses re￿nised in Ihe year. All income and expenditure derive from ￿ntInuing *Xivilies. ROYAL MILITARY POLICE CENTRAL BENEVOLENT FUND BALANCE SHEET ASAT31 MARCH2024 2023 Flxed assèts Tangibl8 8sgets Invastrnents 16 17 3,450 4.688.732 5.130.787 5.134.407 4.692.182 Curr•nt •$8ets 13.591 Cash at ba￿ in har*Y 13.129 412.842 Ctsd•tofs.' amowts ta1￿j du• T*lthkn one ygar 4Z5,971 19 119,179) 118,235) Nel current assets 407,736 5.573,876 5.099,918 In¢ome funds Restricted funds Un￿s￿l¢led fijnds 10.796 5.089.122 5.573.876 5.573.876 S.099,918 gadie Chair ot TnAsts8s l*Sffltth 10- ROYAL MILITARY POLICE CENTRAL BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charity information Royal Military P￿iCe Central Benevdent Fund rs a tharilable trust. The registered office is Regimental Headquarters Royal Militsry Poli￿, The Old Slabfes. SouthwKk House, SoLrthwick Park. IPoslal Point 381. Nr. Fareham. Hampshire. P017 6EJ. 1.1 Accounting ¢onvention The financial staternents have been prepared In accordance with the Tnjsfs Deed the Charities Act 2011 and "Accounting and Reporting by Charib"es" Statement of Re¢A)mmen¢Jed Practice applicabbe to charities prep3rirTrg their acwunts in ac£ordance with the Finanoal Reporting Standaid applicable in the UK and Republic of Iieland IFRS 102) (effedive 1 January 2019)" The Trust is a PL¢bl¢c Benefrt Entty as defined by FRS 102. The Trust has taken advantage of Ihe piovisions in the SORP for charibes applying FRS 102 Update Bulletin 1 not lo prepare a Slatement of Cash Ffows. The financial statements have departed fvom Ihe Chartties (Accounts and Reportsl Regulations 2008 only to the extenl required to prowde a tnje and fair wew_ This departure has involved lolbwing the Statement of Recommended Practice foi charib.es applying FRS 102 tather than the version of the Statement of Re￿mmended Practice vthieh is refetTed to in the RegulatiMs but whjch has since been withdrawn. The financial statements are prepared irr slerling. whith is the lunctional (xjrrency of the Tr(tst. Monetary amounts ir) thesè Iinanctral statements are rounded to the nearest £_ The financial statements have been prepared under the historical ￿5t conventi¢)n. The prin(apal accounting policies adopted are set out bebw. 1.2 Going concem At the time of 3pproiYng the f￿an(jaI staternents. the trustees have a reasonable expectation that the Tnjst has adequale [esour￿$ to continue in operab.onal existenee for the foreseeable future. Thus the Irust6es continue to adopt Ihe going concem basis of accounting in preparing the financial $tstements. 1.3 Charitable lunds Unrestricted funds are available lor use at the di5c¥etion of the Irustees in furtherance of their cha¥itable objectives. Reslrirted funds are subject to spery.fic conditions by donors as to how they may be used. The operab.onal activit]'es of the Trust ale restricted to the terms of declaration of Ttust dated 31 January 1944 as amended in January 1993. 1.4 Incorne Income is recognised when Ihe Trust is legalty entitled to it after any perfom)ano o)ndition5 have been met, the amounts can be measured reliably. and if is probable that inu)me will be received. Cash donats'ons are recognised on receipl. Other donations are recognised once the Trust has been notified of the donation. unless performance condttions require deferr81 of the amounl. Income lax recoverable tn relation lo donab'ons re￿iVed Ur￿er GrfIAid or deeds of o)venant Is recognised at the bme ol the donation. Legacies are recogni5ed on receipt or othemse if the Trust has been notrfied gf an impending distribubon. the amount is known. and receipt Is expected. If the amount is not known, the legacy is treated as a contingent asseL Grants of a revenue nature are uedrted to income in the peri¢xl to whith they relate. 11 ROYAL MILITARY POLICE CENTRAL BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continuedl 1.5 Expenditure Expendrture is recognised once there is a legal or constructtve obligation to Iransfer economic benefft to a third party, it is probable that a transfer of econoJnic beneffts will be required in settlement. and the aniount of the obligatron can be measured reliably. Expendrture is dassified by activrty. The costs of each actmty are made up of the total of direot cos15 and shared costs. including support costs invofved in Underta￿ng eath activity. Direct costs attributable to a single activity are allocated diiectly lo Ihat activrty. Shared costs which conlribute to more than one activty and support costs which are not atlribulable to a single activrty are apportioned between Ihose adrvities on a basis consistent with the use of resources. Central staff costs are alocated on Ihe basis of time spent, and deprèciation charges are alkjcated on thè portion of the asset's use. Resources èxpended a￿ recognised either when they fall due or are paid. whr¢hever is the sooner. 1.6 Tangiblè r￿ed ass•ts Tangible fixed assets are initially measured at cost and subsequenlty measured at C￿$1 or valuation. net of depreaalion and any impairment losses. Depreciation is re￿nised so as to write off Ihe ¢osl or valuation of assels less their re5Klual values over their useful lives on the Idlowing bases.. Plant and machinery Fixtures, fitttngs & equipment Strajght line Over 10 years Staight line over 5 years The gain or loss arising on disposa of an asset Fs detemined as the difference between the sale proceeds and the carrying value of Ihe asset, and is re¢ognised In the ststement of financ4al activities. 1.7 Fixed asset investments Fixed asset investrnents are initially measured al transadion pri￿ exduding transaction costs. and a subsequently measured at fair value at each reporiing (Jate. Changes in farr value are recognised in net incomell&xpenditurel lor the year. TransaGknon o)sts are expensed as i[Ku￿ed_ Fixéd asset investments ale stated at matkel value. Realised gains or losses arising on the disposal of investmen15 Ilogether with prowsion fro diminution value), are ciediled or debited to the Statement of Financial Activibes and subsequently Iransferied to Capital Reserve o¥ Restricted Funds as appropriate. Investment income linduding as50cialed tax credrtsl is uedited to the Slatement of Finanaal Activities when receiVa￿e_ The amounts r8lab.ng to fvnds hekl for restricted purposes are SubS￿Ue￿1IY Iransferred to those fvnds. 1.8 Impairrnent of fixed assets Al each reporting end dale. the Trusl revws the carrying arnounls of rts tsngtble assets lo determine whether there is any Indication that those assets have suffered an Impaiment loss. If any such indication exists. the recoverable amount of the asset is esbrnated in order to determine the extent of the impaiment loss Irf any). 1.9 Cash and cash equivalfrnts Cash and cash equivalents include cash in hand. deposits hdd at call wrth banks. other short-term liqutd investments with original maluritjes of three months ol less. and bank overdrafts. Bank overdrafts are shown wilhin borrowings in curient liabilities. 12- ROYAL MILITARY POLICE CENTRAL BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies {ConUnued) 1.10 Financial instrumenis The Trust has elected to atvty the pro¥Asions of Section 11 'Basic Frnanual Instruments. and sect￿￿ 12 'Olher Finanual Instruments Issues, of FRS 102 lo afi of rts financtal instruments. Financial instruments are recognised in the Tiusvs b￿arKe sheèt when the Trust becomes paty to the contractual promsions ol the inslTumenl. Finanrial assets and liabilrties are offset, with thè nel amounts presented in the finanoal statements, when theré is a legally enforceable nght to sel off the recognised amounts and there is an intention lo setue on a nel basis or to realise thè asset and settle the liability simuhaneousty. Basic financial assets Basic financial assets. which indude debtors and cash and bank batances. are inth.ally measured at transaction price induding transaction costs and ale sub5equenVy carried at amort15ed cost using the effectivè interest method unless the arrangement ¢onstilutes a finawng transaction. where the transaction is rneasured at the present value ol the fvlure re￿iptS discounted at a market rate ol interest. FTnan(ial assets cjassified as recÉivable wilhin one year are not amortised. Basic fiTnanci31 liabilities Basic financial liabilities. including credrtOf5 and bank loans are initiaNy recognised at transaction price unless the arrangement conslilules a finanang transaction. where the debt instrurnent is measured at the presenl value of the future payments discounted at a market rate of inte￿$1. Finan(xal lialM"lilies cL3ssified as payable wilhin onè year are not amort15ed. Debt instruments are subsequentty carried at amorfr.sed cost. usFng the effeclive inlefest rale meth(xl. Trade creditor5 are oblvJations to pay for goods or seTrices that have been acquired in the ordinary course of operations from suppliers. Amounts payable ale dassified as cutrenl liabilrties rf payment is due within one year oi less. If not. they are presented as non-ujrrent Iiabilrties. Trade credrtors are recognised initially at Iransaclion price and subsequently rneasured at amortised cost using the effechve interest rnethod. Dèrecognltion of financial liabilities Financial liabilrties ale derecognised when the Trust's u)ntractual Obl￿atio[l$ expire or are discharged or canceued. 1.11 Employee benèfrts The costs of short-term employee beneffts are Teco9ni5ed as a liabilfy and an expense. The cost of any unused holtday Èntitlement is recognised in the peri(xJ in which the employee's servlces are received. Temiination benèfits are recognised immediatety as an expense when V)e Twst is demonstrably eommitted to lemiinate Ihe employment of an employee or lo provide lemiinalion benefits. 1.12 Retirement ben•fits Payments tts defined contribution retsrernent benefft schemes are tharged as an expense as they fall due. 13- ROYAL MILITARY POLICE CENTRAL BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 cri￿¢31 accountlng esl#tiates and judgements In the application of the Trust's accounting wliaes. the trustees are required to make judgemen15. ests"males and assumptions about the carrying amount of as5e15 and liabtlits"e5 that are not readijy apparent from othei souices. The estimates and assoaated assumptions are based on historical experien¢e and other factors thal are considered to be relevant. Atxual resums may differ from ￿se estimates. The estimates and underlying assumpiions are rewewed on an ongoing basis. Revisions io arLounting estimales are recL)gnised in the period in which the estimate is ievised wheTe the revision affects only that period, or in the period of the rewsion and frJlure periods Whe￿ the re￿$lon affects both CLJrrenl and future peiiods. Key sour¢es of estimation uncertainty Useful life of tangible fixèd assets The useful lives of a55ets are determiT7ed by management at the time the asset is acquired and reviewed for appropriateness. The lives are based upon historical experienc£ with similar assets as 4Yell as anthcipalion of lulure èvents. whi¢h may Impact their life. Income from dtsnations and legacies Unrestrictèd funds 2024 Unrestricted funds 2023 Donations and grfts Legacies receivable 17,492 1,000 21,383 18.492 30.383 Charitabk aetivities tated DPS DPS Donations Donations 2024 2023 PerfOMan￿ related grants 144,851 151.015 14- ROYAL MILITARY POLICE CENTRAL BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from Investmènts Unrestrict•d Unrestricted fijnds fund¥ 2024 2023 Incorre from lisled investments Inleresl r￿1vable 103,791 15.499 108.966 5.554 119,290 114.520 Expenditure on raising funds Unrestricted un￿triCted funds fund¥ 2024 2023 Investment management 29.220 29.005 Charitablè activities reststsd 2023 2024 Staff costs Depreaation and impainnent Postage Insurance Other fees payable Donations out 39.985 761 37,735 575 867 216 11,500 216 41.546 50,895 Grant ftjnding of actiwtiès (see note 8} 202,156 228.136 Share of support costs Isee r￿le 9} Share of govemance costs (see note 91 2.135 4.050 2,594 4,086 249.887 285.711 15- ROYAL MILITARY POLICE CENTRAL BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Grants payable r•stated 2023 2024 Grants to institutions.. RMP Regirnenlal Fund contritKJtion RMP contribution lo AGC RMP subsuiplion$ V￿) 21.989 107,882 12.970 22,987 114,881 13.147 142.841 151.015 Grants to indiwdu￿s 59.315 77,121 202.156 228.136 Grants lo individuals of £59.315 includes". a) Fiom general funds £59,315. induding Chrislmas grants and olher indivKlual grants. b} From iestricted funds £0. Svpport Costs allocated to activltiÈ¥ Total 2024 Total 2023 Computer costs Advertising Travel and subsistence Stair lift warranly General éxpenses Govemance 1,391 300 1,456 800 40 287 286 108 4,050 4.086 6.185 6.680 Governance costs comprise: 2024 2023 Audit feès Arllounts payable tts the audilor for non-audit serwces 2.610 1.440 1.440 4,050 4.086 16_ ROYAL MILITARY POLICE CENTRAL BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 Trustees Nonè of the trustees lor any persons connecied with them) r￿ryed any remuneration or benefits fri)m the Trust during the year. Employèes The average monlhty number of employees durrng the yearwas.. 2024 NUffj￿r 2023 Number Employmènt costs 2024 2023 Wages and Sala￿e$ Soeial securty costs Other pension costs 38,424 1,108 453 36,249 1.090 39,985 37,735 There were no employees whose annual remun￿a￿.0n was more than £60.0(h). Rèmunefttion of key management personnel The remuneration of key management personnel is as follows. 2024 2023 Aggregate cornpensation 17,076 15.820 12 Gains and lossès on investments Unrestricted UnrestrTrcted funds funds 2024 2023 Gainslllossesl arising on". Revaluation ol investrnents Sale ol investments 488.104 {17,6721 1127.3991 152.5371 470,432 1179.936) 13 Taxation The charrty is exempt frorn taxation on rts actsvrties because all its inwme is applied for charitable purpos8s. 17_ ROYAL MILITARY POLICE CENTRAL BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 14 Tran¥fers There is a transfei from restricted to unTestsicled funds of £10,796 due to Ihe bfting of the restiiction on the annuty scheme income as annuty scheme grants are now paid by the Amiy Benevolent Fund. 15 Pfior y•ar adjustment There has been a prior year adjustment due to Ihe reallocah.on of RMP Subs(yiptions WD paid, which had previously been offset ègainst ineA)me. This has led to an incTease in perf0rrnan￿ related grant income gf £13,147 and an increase in grants paid to insbtutsons of £13,147. The wnpact on reseryes is nil. lfj Tangible f￿0d assets Pl¥rrtand Fixtures, fittlngs & oquipmerbt Tolal Cost At 1 April 2023 Additions 5,750 5.750 931 931 Al 31 March 2024 5,750 931 6,681 Depreclation and impairn)ent Al 1 April 2023 Depreciation tharged in the year 2.3C(J 761 575 At 31 March 2024 2,875 186 3,061 Carying amount Al 31 March 2024 2.875 745 3,620 Al 31 March 2023 3,450 3,450 17 Fixed asset investments Listèd Investments Cash in portfolio Total Cost or valuation Al 1 April 2023 Additions Valualion changes Net movement lo cash Disposals 4,494.983 761,774 488,104 193,749 4,688.732 761.774 488.104 2,565 181 CS.3881 2.565 1810.3881 At 31 March 2024 4.934.473 196.314 5.130,787 Carying amount Al 31 March 2024 4.934.473 196.314 5,130,787 Al 31 March 2023 4.494.983 193,749 4.688.732 18- ROYAL MILITARY POLICE CENTRAL BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Fixed asset •nv•stments (Continuadl Fixed a55et investments r•valued Listed investrnents are induded at markel Va￿e. The comparable amount under the histori&￿ cost basis was £3.420.84012023.' £3.509,0511. 18 Debtors 2024 Amounts falling due within one year. 2023 Othei debtors Prepayments and accnJed In￿Me 11.692 1,899 12,116 1.013 13.591 13.129 19 Creditors: amounts falling due within year 2024 2023 Olhei faxatitsn and social security Olher credilors Accruals and delerred inc¢)me 851 14.308 4.020 810 13.615 3.810 19,179 18,235 20 Restricted funds The restricted funds of the charity comprise unexpended balances of donalions and grants held on trust subject to specthc conditions by donors as to how they may be (Jsed. At 1 April 2023 TrnnsfeT5 At 31 P•Tarch 2024 Grants to indivJdua15 10.796 110.7961 Pr•vious year: At 1 April 2022 Transfers At 31 March 2023 Grants to individuals 10.7 10,796 19- ROYAL MILITARY POLICE CENTRAL BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 21 Unrestrt¢tsd fvnds The unrestrided funds of Ihe charity comprise the unexpended baLlr￿S of (k)nab"ons and grants wh￿h are not subject to speafic condthons by donors and granlors as to how they may be used. These indudè designaled fvnds which h3ve been set aside out ol unrestricted funds by the trustees for speufic purposes. At 1 April 2023 Inc¢)ming resources ResouTces expended Transfers Galns and At 31 March losse5 2024 General funds 5.089,122 282,633 1279.10n 10.796 470,432 5.573,876 restated Incoming re$ources restated Resources txpended Prevlous year: At l April 2022 Trdnsfe Gains and At 31 March lossès 2023 General funds 5.287,8 295.918 {314.716) {179.936} 5.089.122 22 Anatysi$ of net assets bètween funds Unrestrictèd funds 2024 Restricted lunds 2024 Total 2024 Fund balances at 31 March 2024 arè represented by.. Tangible assets Investments Current assetsloiabilthesl 3.620 5.130,787 439.469 3.620 5.130.787 439.469 5,573.876 5,573,876 Unrestiicted funds 2023 Re$trict•d nds 2023 Total 2023 Fund balanc￿ at 31 March 2023 are rep￿sented by: Tangible assets Inv6Stmenls Current assetsJlliabi￿.tie9} 3.450 4,688.732 396,940 3,450 4.688.732 407.736 10,796 5.089.122 10.796 5.Q99,918 23 Related paty transactions There were no disdosable related paty transactions dunng the year12023- r￿ne1. -20-