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|Eoander||The Late Colonel SirDavid Stirling DSO OBE|
|---|---|---|
|Correspondent||The Treasurer|
|Charity number|||
|Registered office||PO Box 35051
London|
|||NW1 4WF|
|Auditor||Whittle & Partners LLP|
|||The Old Exchange|
|||64West Stockwell Street|
|||Colchester|
|||Essex|
|||CO1 1HE|
|Bankers||HSBCPlc|
|||13-14Sloane Square|
|||London|
|||SW1W 8AL|
|Solicitors||Greene & Greene|
|||80 Guildhall
Street|
|||Bury StEdmunds|
|||Suffolk|
|||IP331QB|
|Investment|advisors|J Stern &CoLLP|
|||4Carlton Gardens|
|||London|
|||SW1Y5AA|
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||Page|
|---|---|
|Trustees' report|1-3|
|Statement ofTrustees' responsibilities||
|Independent
auditor's report|5-8|
|Consolidated
statement offinancial activities||
|Consolidated
balance sheet|10|
|Charity balance sheet||
|Consolidated
staiement ofcash flows|12|
|Notes to the financial statements||
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||||2021|||
|---|---|---|---|---|---|
||Notes|||||
|Fixed assets||||||
|Tangible assets|13,||66,745||70+77|
|Investments|14||13,439~6||11/89412|
||||13,506,101||11,460~9|
|Current assets||||||
|Stocks|16|32,109||19,261||
|Debtors|17|11,132||23,552||
|Cash atbank and in hand||73,290||90/99||
|||116+31||133,211||
|Creditors: amounts faIling due within||||||
|one year|18|(54,757)||(33,719)||
|Net current assets|||61,774||99,492|
|Total assets less current liabilities|||13/67,875||11,559,881|
|Capital funds||||||
|Endowment
funds —general|||3,650,000||3,650,000|
|Income funds||||||
|Restricted funds|21||238,355||192,821|
|Unrestricted
funds|||9,679420||7,717,060|
||||13/67+75||11~9,881|
##
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|||2021||2020||
|---|---|---|---|---|---|
||Notes|||||
|Fixed assets||||||
|Tangible assets
Investments|13
14||66,745
13,439@58||70,577
11389,814|
||||13/06,103||11,460,391|
|Current assets||||||
|Stocks|16|30,809||17,961||
|Debtors|17|9,133||21,552||
|Cash atbank and in hand||53,992||70,462||
|||93,934||109,975||
|Creditors: amounts falling due within
one year|18|(54,631)||(33~)||
|Net current assets|||39,303||76,435|
|Total assets less current liabilities|||13,545,406||11,536,826|
|Capital funds
Endowment
funds - general|20||3,650,000||3,650,000|
|Income funds||||||
|Restricted funds|21||238,355||192,821|
|Unrestricted
funds|||9,657,051||7,694,005|
||||13,545,406||11,536,826|
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||||||2021||2020||
|---|---|---|---|---|---|---|---|---|
||||Notes||||||
|Cash flows from operating activities|||||||||
|Cash absorbed by operations||||||(617,949)||(856,700)|
|Investing activities|||||||||
|Purchase oftangible fixed assets|||||||(691)||
|Purchase ofinvestments||||(6,289,619)|||(3,731,960)||
|Proceeds on disposal of|investments|||6,589,702|||4,036,511||
|Investment
income||||202,373|||412@97||
|Net cash generated
from investing|||||||||
|activities||||||502,456||716,257|
|Net increase/(decrease)|in cash and cash||||||||
|equivalents||||||(115,493)||(140,443)|
|Cash and cash equivalents
atbeginning||ofyear||||395,104||535~6|
|Cash and cash equivalents
at end ofyear||||||279,611||395,104|
|Relating to:|||||||||
|Cash atbank and in hand||||||73,290||90,399|
|Short term deposits included in fixed asset|||||||||
|investments||||||206+21||304,705|
|||||||279,611||395,104|
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|3|Donations|and legacies|and legacies|2021||
|---|---|---|---|---|---|
|||||6||
||Donations and gifts
Legacies receivable|||99,088
62,695|84,259
34,010|
|||||161,783|118,269|
|4|Charitable|activities||||
|||||2021|2020|
|||||6|6|
||Christmas|draw income||33,534|32+77|
||Stock sales|||15,559|5,083|
||Others|||16,225|16,807|
|||||65,318|54,767|
|5|Other|||2021|2020|
||Booksales|||11,901|6,186|
||Journal income|||5,915|4,767|
||Life Subscriptions||and Reunions income|504|3,860|
|||||18,320|14,813|
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|Investments|||||
|---|---|---|---|---|
||Unrestricted|Restricted|Total|Total|
||funds|funds|2021|2020|
|Dividends|139886||139/86|366,817|
|Income received on Russell King Investment||8,690|8,690|7,000|
|Interest on bonds|53,797||53,797|38~0|
|Interest on bank accounts|||||
||193,6S3|8,690|202,373|412/97|
|For the year ended 31March 2020||||
|---|---|---|---|
||Unrestricted|Restricted|Total|
||funds||2020|
|Dividends|366/17||366,817|
|Income received on Russell King Investment||7,000|7,000|
|Interest on bonds|38,580||38,580|
|Interest on bank accounts||||
||405+97|7,000|412,397|
##
|Raising funds|||||
|---|---|---|---|---|
||||2021|2020|
|Activities for raisin||funds|||
|Direct trading costs|||4/16|1,454|
|Fundraisin
and|ublici||||
|Stock purchases|||14+37|5,751|
|Draw costs k publicity|||31,99S|28,727|
||||51,051|35,932|
|Investment
mana|ement||45,172||
||||96,223|104,755|
||||RmR|RmR|RmR||||||||||||||||
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|Support costs|||||||||
|---|---|---|---|---|---|---|---|---|
|||Support|Governance||2021|2020|Basis ofallocation||
|||costs|costs||||||
|Staff costs||186,075|||186,075|177P61|Charitable|activities|
|Depreciation||3,832|||3+32|3 832|Charitable|activities|
|Office Costs||95,465|||95,465|75,176|Charitable|activities|
|Travel &Subsistence||2,856|||2,856|1Q,844|Charitable|activities|
|Audit fees|||7|320|7/20|7680|Governance||
|Meeting &Training|costs|||135|135|693|Governance||
|Financial Managers|Fee||18,013||18,013|25,22Q|Governance||
|||288,228|25,468||313,696|301/06|||
|Analysed
between|||||||||
|Charitable
activities||288,228|25,468||313,696|301+06|||
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|The average monthly|number
ofemployees
during the yea|r was:||
|---|---|---|---|
|||2021|2020|
|||Number|Number|
|Office and adminhtration||||
|Employment
costs||2021|2020
6|
|Wages and salaries||158,727|151+23|
|Social security costs||15,791|15,035|
|Defined contribution|pension costs|11,557|11,303|
|||186,075|177/61|
|||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|
|||funds|funds|2021|2020|
||||||6|
|Revaluation|ofinvestments|1,314,095|25,245|1,339+40|(1492,753)|
|Gain/Poss)|on sale ofinvestments|1,141,258|10,599|1,151,857|(265,427)|
|||2,455,353|35,844|2,491,197|(1,858,180)|
||||Unrestricted|Restricted|Total|
|---|---|---|---|---|---|
||||funds|funds|2020|
||||||E|
|Revaluation|of|investments|(1,590,363)|(2,390)|(1/92,753)|
|Gain/Poss)|on|sale ofinvestments|(265,427)||(265,427)|
||||(1,855,790)|(2,390)|(1,858,180)|
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|Tangible fi
Group and|xed assets
charity|||||
|---|---|---|---|---|---|
|||Computers|Roll of|Works ofArt|Total|
||||Honour|and Artefacts||
|Cost||||||
|At 1April 2020||35,991|34,588|24+51|95,130|
|Additions||||||
|At31~2021||35,991|34~8|24,551|95,130|
|Depreciation|and impairment|||||
|At 1April 2020||24/53|||24/53|
|Depreciation|charged in the year|3,832|||3,832|
|At31March|2021|28,385|||28,385|
|C~ amount||||||
|At31March|2021|7,606|34,588|24,551|66,745|
|At31March|2020|11,438|34@88|24,551|70,577|
##
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|Fixed asset investm
Group|ents||||||
|---|---|---|---|---|---|---|
||||Listed|Cash|in|Total|
||||investments|portfolio|||
|||||E|||
|Cost or valuation|||||||
|At1April 2020|||11,085,108|304,704||113S9,812|
|Additions|||6,289,619|||6@89,619|
|Valuation
changes|||1,296,153||43,187|1,339,340|
|Profit/(loss)
on disposal ofinvestments|||1,151,857|||1,151,857|
|Disposals|||(6,589,702)|(141+70)||(6,731,272)|
|At31March 2021|||13,233,035|206,321||13,439@56|
|Carrymg
amount|||||||
|At 31March 2021|||13,233,035|206,321||13,439356|
|At 31March 2020|||11,085,108|304,704||11,389,812|
|Fixed asset investments|||||||
|Charity|||||||
|||Listed|Cash in|Other||Total|
|||investments|portfolio|investments|||
|Cost orvaluation|||||||
|At 1April 2020||11,085,108|304,704|||11/89,814|
|Additions||6,289,619||||6,2S9,619|
|Valuation changes||1,296,153|43,187|||1,339,340|
|Profit/(loss)
on disposal ofinvestments||1,151,857||||1,151,857|
|Disposals||(6,589,702)|(141470)|||(6,731,272)|
|At31March 2021||13,233,035|206+21||2|13,439+58|
|Carrying amount|||||||
|At31March 2021||13,233,035|206,321||2|13,439+58|
|At31March 2020||11,085,108|304,704||2|11,389+14|
|||||2021||2020|
|Other investments|comprise:||Notes||||
|Investments
in subsidiaries|||||||
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|Creditors: amounts falling due within one year|||||
|---|---|---|---|---|
||Charity||Group||
||2021|2020|2021|2020|
||f.|||6|
|Taxation and social security
Trade creditors|8,257
10,995|5,841
3,565|8/83
10,995|6,021
3365|
|Other creditors
Accruals and deferred income|35,379|24,134|35@79|24,133|
||54,631||54,757|33,719|
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##
||||Movement in funds|Movement in funds||
|---|---|---|---|---|---|
|||Balance at 1|Incoming|Resources|Balance at 31|
|||April 2020|resources|expended|March 2021|
|||6||||
|Permanent|endowments|||||
|Russell King fund
Jubilee Appeal||150,000
3+00,000|||150,000
3+00,000|
|||3,650,000|||3,65O,OOO|
##
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||||Movement
in funds|Movement
in funds|Movement
in funds||
|---|---|---|---|---|---|---|
|||Balance at 1|Incoming|Resources|Revaluations,|Balance at 31|
|||April 2020|resources|expended|gains and|March 2021|
||||||losses||
|Russell King fund||192/21|8,690|(1,000)|35~|238,355|
|Analysis ofnet assets between funds|||||||
|Group|||||||
|||Unrestricted||Restricted|Endowment|Total|
||||funds|funds|funds||
|Fund balances at31March 2021 are|||||||
|represented|by:||||||
|Tangible assets
Investments|||66,745
9,632,809|156~|3,650,000|66,745
13,439356|
|Current assets/(liabilities)|||(20,034)|81,808||61,774|
||||9,679,520|238~5|3,650,000|13+67/75|
|Analysis of|net assets between funds||||||
|Charity|||||||
|||Unrestricted||Restricted|Endowment||
||||funds|funds|funds||
|Fund balances at31March 2021are|||||||
|represented|by:||||||
|Tangible assets|||66,745|||66,745|
|Investments|||9,632,811|156,547|3,650,000|13,439358|
|Current assets/giabilities)|||(42,505)|81,808||39,303|
||||9,657,051|238@55|3r650r000|13$45r406|
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|24|Subsidiaries
'||||||
|---|---|---|---|---|---|---|
||Name ofundertaking|Registered|Nature ofbusiness|Class of|0/
Held||
|||Office||shares held
Direct|||
||SASRegimental
Association|England &Wales BookPublishing||Ordinary|100||
||Publishing
Limited||||||
|25|Cash generated from operations||||2021|2020|
||Surplus/(Deficit)
for the year||||2,007,994|(2,291,133)|
||Adjustments
for:||||||
||Investment
income recognised|in statement of financial activities|||(202+73)|(412,397)|
||Gain/Loss
on disposal of investments
Fair value gains and losses on investments
Exchange gain/loss
Depreciation
and impairment
oftangible fixed assets|||(1,151,857)
(1339340)
43,187
3,832||265,427
1392,753
2,456
3,831|
||Movements
in working capital:||||||
||(increase)/Decrease
in stocks
Decrease/(increase)
in debtors||||(12,848)
12,418|2,751
(16,978)|
||Increase/(Decrease)
in creditors||||21,038|(3,410)|
||Cash absorbed by operations||||(617,949)|(856,700)|