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|`1-3`|`Trustees' Annual Report`|
|---|---|
|`4`|`Independent Examiner's Report to the Trustees`|
|`5`|`Statement of Financial Activities`|
|`6`|`Income and Expenditure Account (General Fund)`|
|`7`|`Income and Expenditure Account (Benevolent Fund)`|
|`8`|`Income and Expenditure Account (Margaret Hartley Fund)`|
|`9`|`Balance Sheet`|
|`10-12 `|`Notes to the Financial Statements`|





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The Cheshire Yeomanry Association
Independent Examiner's Report to ihe Trustees or
The Chesbire Yeomanry Association
l Feport to the chJFity trustce5 on m}, examtnation of the aceowts of the charit). for the vear ended 31 March 2025 which ate set out
on pages 5 to 12.
Respective responsibilities of iht Tru$ttes *ttd tbt lttdependent ExaD)iDer
As ihe charity s trusie¢s )'ou are resW)￿lbIt for the prewaiion of ihe xwun15 in accotdanee WEth the Tequirem¢nts ofthe C harjties
ALt 2011 I'the Aci'i. Th¢ charil) s trusiees consider that an aLKlil Is JKtri reqwrttl for Ihis }'ear u￿1t¥ secihin 14421 of ihe Chariiie.%
Act 2011 (the 2011 Acll and Ihai ttn Èndepethi examinaiion 15 ne¢d¢d.
I rew)rt in respeci of my exaMinat￿n of the chwits s xcounts Carried out under SttiiDn 145 of the Aci and in inB out my
exaiiiination I h2ve folloi%'ed all the appli¢abl¢ Directions given bi, the Chaniv Commission under section 14515Xbi of the Act.
l Jm a150 ¥cquiied io siaie ivhdher ￿niCular matiers hai'e come ￿ my. auenlion.
BASIS of Indepcndcnt LxamiDer's Report
My eNamiAaÈion Wds earried oui in accordance N'ith the 8eneral Dire¢iions 8i%'en by the Charil? Commi%sion An ¢xaminatio
includes a revie￿ ol-the accounting records b). the chaTiI)' and a comparison orth¢ aceounts prescnied wilh tlw8e records It
also Includes coiisidcralion of ans. un115ual iiems t)r di￿10$UreS in the ￿cOUl)￿ and seLking expl￿latio1)S frorn vou IrL151¢es
ci?ncerning ani. siich matters. The pr￿ed￿re$ uNlenaken do rn)I proi'ide all ihe ei'idence thol would be required in an audii lind
conlequentlv no ()pinion Is 8ii.en a*10 ilhether the 3CC0Lhnts preseni a'wue and lair i'l¢￿, and the repon Is limited ts) thosc mattcis
set ()ui In ihe siatement b¢loM'
Independent Ex*miDer's St*temtnt
I havc compl¢l¢d my examinaibon I confirm ihat no material mattershave come ￿ mi. ?ii¢nlion in conTheaion iviih Ihe examiniiiion
givJn8 me re&sanahle cause io ￿lieve th￿ in 401, maicFtal Testxri.
accountin8 TL*(wd5 ￿[e k¢pi in resF¢Ct of ihe ehon.ty as required by s¢¢tion 130 of the Aci. or
Ihe accounts do accord wilh those records or do rn)i ¢(￿nplY wilh the acCo￿tIng wuiiemcnts ofthe 2011 Ath. or
Ihe ¥¢¢oun15 do I￿1 Comply with ihe applicablt requir¢mcnts corKcrninB thc form and con*nt of a¢cowits sct nut in thc
Chariiies IAc¢oiinls and Reports) Re8ulaiions 21MIR ot￿1 ihan om" Tequirement thai the accounts 8i¥e a 'tnJe and fair view
which is not a maltcr considered &$ w oran ind¢peThJent twin￿lOn.
I have no Concerns and have come acro￿ no oih¢r matter5 in eonnection iiiih the examinaliijn to which attenlion lhould he dra￿
in 11115 repotl in ord¢'r 10 enable a prO￿r Understa￿lin8 of the *c(wJnis 10 ￿ rea¢W.
Susan H￿15 MA ACA
Champion AIIHIKrtls Limited
Chartered AccowitanL8
2rd fioor Rcfvge H￿5¢
33-37 W&c￿￿1t Row
Chest¢r CHI 2LE

The Cheshire Yeomanry Association
Stfitement of Financigl Aelivities
Ye2r Ended 31 Nlarch 202)
Re5tritted Cxrestricted
fttnd5
2025
Totsl
2025
2025
2024
Income and e ndoi)Tnents ￿m.
Voluntarv ￿¢0￿￿..
Lk)naiKJnS
Ixhtr
InieslnEnts
21_753
21.753
2.094
8530
2.456
2,521
13,475
8.i77
Tot#1 ID¢ome and eD(lo*Thents
15)
18.4)2
E%penditure
Fundrai8ing ¢05t of goods sokl and oihercosts
C05t of chgrttANt i¢tiiTItS-
Grants and benevokace
(hher eNpenditurc
1949
i269
4.723
4.091
3,8
333
4.6)?
Total expenditure
4.(bl
&￿1
12.t62
132)6
Net Ineome/lexpenditure) before ini'estmeDt gal￿$
3.q)81
2).623
19.715
5,196
Unrealised ga￿5 Ilossesl on In¥eStn￿nI assds
28.273
12i.1791
3.094
Ntt IDcomel{eAPtnditure) for the vear
24Ji
11.5)61
Fund balances bro￿shI for%wd ai l April 2024
22i.121
289.6il
514.752
486.949
Fund balartce5 al il March 2015
249.486
288.07)
537561
514.7)
The Statement of Financial Activiiies is a requiTETUC¥rt of the Charities Act and summarises on one Slater￿ent the Income and
EVe￿dIt￿e of the Association for the }"rdr.
The detsiled IncoTf2e and Ewnditure xcounts on pages 6 to 8 ar￿ the notrs on paqes 10 10 12 forni pan of these accounts

The Cheshire Yeomanry Association
Income attd Expenditure Account- GeDer81 Fund (L',nre5tricled)
ear Ended 31 March 2025
2025
2024
Ineome and tndoThiDtnts
Other iiicon
2(
2521
In¢onr from donatM)ns
- Wesimin5tef FoUndat￿n
- Other donat￿n5
21.753
188
1.188
iDel)Illt Igrossl:
Disiributions on Chil rifund units
DistributH)ns on Canaccord Ctnuffv Invest￿ftL Funds
Distribuiioiis on Am*d Forees COm￿n In%'estn%nt Fund
Disiributions fr(Trrn CaZeno￿t MUlt￿A$Sel fund
Intcrcsi on COIF Chathies £kposrt Fund
Intercst on Baiik Deposii account
R¢aliscd P(ofrtlllnssl on Sale oflni'estn*nts
3,703
2517
957
447
&775
47
8,377
7.324
31224
11,033
Expenditure
Lhxrit*lle t%￿n￿l￿re.
Ch(Irilable donallons
RL'inb Llav LunLh
Breakf85( Club
hcr ewendrtLire
Sports Sponsorship
Sumnrr So¢MI F.v¢ni
242
326
2.488
2.707
(3.9491
162691
Other eX￿n￿l￿r¢.
Insurdnte
Stationcry. posia8e and other
Bcn¢voleni Secretary Honorw
Bank interest
Chri51nB8 Part).
Gift aKI iaxdebtor HTitien off
InvesLnYnt rronagerrtnt fees
Accounlancv and Independent EwThnation Itncludm8 VATI
Ctss of oITr t1￿￿11￿re for yt•r ￿tort giill5
Unrealised gauls Ib)55¢sI on llive51nYni assets
E(re55 of imconr o*r t1￿￿11￿re for
Balan¢e brought fonwd at l Apni 2024
Accumu￿tCd Fund at 31 ma￿h"2015
Athl Banner Furtd at 31 March 2025
Tot81 L.nrt5tritttd Funib
545
41
$45
12
124
543
2.IX)
2238
14.652}
23.623
13.8thl
867
25.179}
11.5)61
14.769
15,636
289.631
287.71K)
375
27i,620
289>6
375
288.075
289.631

The Cheshire Yeomanry Association
lllcome and Expenditure Account- Benevolent Fund (Restricted)
Year Ended 31 MAreh 2025
2025
2024
Ineome frf)m dollations and legacies
tknnaiions
634
634
knYstmeDt iD¢oll* Igr05s1-
Distribuiions on Canaccord Ini'esiTrrfti Funds
Distnbuiions fromCa2Enoi"e mUh￿ASSe[ Fund
DLStributMins on Amid Forces CO￿￿Ksn Ini'estn*nÈ Fund
B£alised PtofrtlllDs%l on Sde af Ini'esuwn
21
1253
4.898
li.0851
153
6.151
6.785
li3
Expe nditure
Ch8ritslle exFllththre".
Beiievolent donatK)ns
rI1￿h legion
Patade &cLnr￿)datIOTr
Willbeing break.fasi
Funer￿ ScTrK¢s
Ov¢r5L2S AKi & Tnps
1.873
1240
13.7231
(2.7401
Othtr ex￿￿14￿re.
InvestmEnl ￿n88¢Dr￿1 fees
13381
Exct5s ofinconr 0￿r eX￿o￿tUrn for trfort galLs
4.fy15
Unre￿i$¢d ga￿5 Ik)ssesl on investnrni &ssets
7.839
Excess of iD¢omt ffttr for Thtir
24365
11.884
Baknce bTOU-ht f0Th￿d * l AP￿ 2024
221.105
2179221
Actrmu1xtedfund￿3l Ihrch 2025 (restriftedfunth
245,4TJ
221.105

The Cheshire Yeomanry Association
Incomt And Expenditure Ae¢ounl- NlargAret Hartley Fund (Restricted)
Year Ended 31 Mareh 2025
2025
2024
Income
tknnations
634
Expe nditvr¢
ChAritaFle eX￿nd￿re.
W¢lfare packJse
351
13511
Ekreis of incthmc thtr el￿n07ture for i'tar
283
Balance brought toriieTd 81 l April 2024
4.016
3.733
A¢cum¥lated Fuod ¥131 i%lArch 202$ Irt$trltteil funthl
4.1116
4,016
The MaTgaT¢I l.lartley Fund wa5 previousl5, kJ)owi ai the CNJl* Fund

The Cheshire Yeomanry Association
Balance Sheet
31 March 2025
2025
2024
FixtdAsset IDveslmeots
The Equff ies ln1.esttt￿￿ts Fund for c￿artI]es
- 4.3(kS Incony Uniis sold and trdnsftrred to tsnove
CGWM (PS Cauiious Fund IforRrth. CGWM (PS (4)tllEll￿d Ponfolx))
10? 934.[M￿9 untts sokl
C&WM Select Bond Fund Ifornrrty Canaccord Trnuiij ￿1nd)
110.68 units sold
87,359
9230
Arnrd Forces CoTruTh)n Inve5tnYni Fund
- 32,514 shares sold
Calenove Multi-Asset Fund
-890,916 units plus cash balance at nÉTket value Icost £4f**.3i71
tkposf( Hi(h The Unt¢d SeryKes Tmslee (Cost £llTr))
Total ￿l'esIn￿nlS Itost £468.437)- total cosÈ fro5n 5unwwv
Curre nt Asstts
Siocks Ai c05t
149240
511.768
2.1(K>
198,434
IICK)
i13.868
830
891
Detrtors llioie 61
B#l#ttces at B8nk
Barcts)'s Bqnk plc- Bussness S2I'¢r Account
BarcLqN5 PAnL pl¢- Conmyjnlly Account
Cash
174
?1.407
3.465
3.1&7
81
.931
7.695
I2,1￿)
Crethtws." ArTh)unls due MiihÉn one l'ear
i et Currellt Assets
23.693
5.)65
Net.455ets
Rtwestnttd B!.:
Rt5tr¥tltd 15'4)te 71:
Benevolent Fund
ma￿a￿et Hartky Fund
537,i61
)14,752
245.4KJ
4.016
221,105
4.016
249,486
L￿reStri¢led Income
r*ne￿ FEtnd
A(kl Desiguated Fund5:
Bantter Fund
5.121
2&1.7(X)
289256.
375
375
288.075
289,631
514.7)2
i37,￿[
These financial State￿￿nts were approved bTr" the Board of Trusiees on
and s]￿ed on its behalf by".
Pcter M Cooper TD. Honotaty ColoneL C (Cheshite YeomanTh'l Sqd WY

The Cheshire Yeomanry Association
Notes to the Financial Statements
31 March 2025
I'hese accounts are prep2ted utMleT the Chariiies Act )01 l on the histOTi¢at tosi convenlion. ￿'1th the exLepiioii of Ini'tsimeni
sets Mthich are sthkd * market %￿ue. and in accordance iiith applicable aceounting Standard5 al￿ the Statement of
Recommended Practice on Accountjng and R¢￿yrtjng h, Chatiiies." the Clhin'ties SORP 2019 (FRS 1021. a￿1 eomply with the
Charities (Acco￿nIS ttr%i Rep)rtsl Regulations 21X)8.
The fjnanciol ststements aTt Frtpored in sierlins Mthich is the fundioMI ¢urrerw' of the chaTifj'. rounded to the nearest £.
The eharity. cOn￿lIu￿s a public t*nefJt eniil)" &% defined bk FRS 102.
Aecounting Polieits
Tr pllncipal attouniing ￿liC￿e$ 2doNed in the pret*rnuon of finwKial s￿￿ments we Set oui below..
B•si4 of PT¢Pgrntlott of fi&*ntig15t*temenlS
A5se15 and liabilitjes are Jniijalli. reco8nised ￿ historical c051 or tr#n￿ello￿ price unless otheNist s(aied in
the relevant a¢couniin8 policl. n(Ac
b)
Incoine l¥om fundrai.sin& srA)rtsorship. COVeEW¢ts. dt)naiions and legacies is reeo8nised tn Ihe ￿￿oUnt]I)g
peri￿1 In I￿h1£h th¢ ¢haril) becomes entiilcd to the income. Ihe performa¥Ke condilinn% hav¢ bccn rnet and
rettipi Is PTobobl¢
Iniestmeni Income is recoBni5cd in ihe Ixriod in M'hich distributions are m￿¢ t)r inteTeM crediied to iliL
Awialion 5 accouni
Dinet th*rft#ble txpenditurt and oiber resources tIptDdtd
l%pendiiurc Is accaunied for in ihe accounting perlod in ￿ts1¢h li falls dut. on an aicTua15 bost5. •nd is
inclLLsive ol"V AT whue appriwrialc.
dl
UnT¢Strieled lundsare availablc forwe ￿ ihediscretion of the irnsitts in funhernn¢e ol-Ih¢ 8ener#l ohjeeiiveq
of the charity and ￿'h￿h hve rni been design￿ed for oiher PUFFK)5¢$
Design￿lted lunds compri5¢ unrrstncted funds thai have been *1 aside by the trustees for particular purpo¥¢,
The aim and use of each desigroicd fund LS sei In ihe noi¢% lo thc financial stsiements
Rewicted funds ate funds ￿h1¢h we to be used in accordance WEth 5rrtbfK restTictioi?s impos¢d by donors or
which hai'e becn raised b) ihe chantK, for wti¢ul¥ purrA)se5. The use of each restricted fund i5 Set
in Ihc tKttes ￿ thc fina￿lai sth*ments.
lllvtstmtnts
In%'cstment8 8]t recognised initiail). at fw"r Wal￿ ￿h1¢￿ is nom*lly the transaction price. Subsequently the).
are measured at fair value ii'ith chan8e5 reco8nised In uainsl IIOssc51 on investments in I1￿ SOFA If Ih¢
inve51m¢nts arc publicl>" Iraded or their fair value can othern￿ls¢ be mrd5ured reliably.
Stocl
Stttks art stsicd ai the IourT of w5t OT nd reali58ble
81
Goin8 colletr
The financial stateEllents ha￿"t ￿en prerAred on a going ￿l¢ern basis as the trusiees beliei'e thal no material
uncertainty." exists. The fftLMees have considered the lei'tl of funds held and expected level of income and
¢xr*ndiiure for 12 montlLS from authorising these fiajancwl statements
Htrit4ge Assets
Heritage ￿Sets c¢)mprise Fe8imeTrtal silier. pictures aryl xcoutsrmenu It is the Association's pol¥¢v not to include the
value ol such assets in the ftnarKial staiemeTts & the cost 01 of these heritage assets i5 Tlot *adily available
and the c05t of obiaining this u)fonnatton sigllificanili. ounNEi8h5 ans" benefii ￿ the u5ei of the fmancial statemeii
10-

The Cheshire Yeomanry AssocRation
Notes lo the Financial Statements
31 March 2025
Fixed Asstt Inveslmellts
Rtstriftsd
d5
iknrestri¢led
listed tiivestntnts held prinMrJN. foran invesin*nt fttum."
At nkrkei value l Aprd 2￿£4
Addit%)ns al cosi
D￿pOsaL$ at M2tkei Value
Reinvest¢d ￿tOrt￿
Managenrnt fees
Nct 8&￿s/[loS5) arisin8 on ￿alUat￿￿n in )"eat
210.460
lil.8)5
I1£6.8￿)
7.803
13381
28273
298.f27
173.145
(li).i891
447
1854}
{￿.179)
509,187
30i,(m
1310.4711
8250
Ai Ttktk'el val￿e il March 202)
291697
513.868
RecotscilÉ#tion of ID wireglised
g*ins on ittitstmeni assets:
Unrealised gains ai I tlpnl ry￿4
RekasL ofunrealLsed on Sale of Ini'esin*n15
Net ?ainsJllossl artsinct on revaluat￿￿ in l'ear
117,712
I￿.0>6)
l? j.1791
143,786
{105.(H31
114.987)
28.*73
Unrealised gain5 at il MaTeh Ipi
2ii7
Other Filed Assets
The A5s(K141tIO￿ ￿ncU[s e.xpetKEiÈure on ¥nea￿C37 a5ds iihirh ate loaned iftdefinitcli 10 ex-seThicemen and tlieir Fdmilies.
It *$ the Associalion s tK)lici' to iinie off eN￿lidi￿re on medical aids tn the i'fdf il 15 Inlufftd.
et Incoming Resourees
Net inco￿ong resources is stated after¢ha￿]ng-.
2025
21124
Indep¢nd¢nt c￿n￿¢￿S fr¢ I￿¢]￿dID0 VAT)
2238
2.130

The Cheshire Yeomanry Association
Notes to the Finaneial Statements
31 March 2025
Debtors
2024
Taxrecoverable on R]ft
Loan
124
174
Re5triettd Funils
Benti'olellt
This reslriLied fiiijd conipr15es le8a¢ics recvived K4'h¢TC undLr the terins ol. the Will8 thc fuiids are lo be used fur the
purpo￿$ ol'bcii¢i'DIèi)cL'.
In ?ddilioii. donaiions havc beeii receii'ed and funLl$ raised specificallv for benevolence uiid inLome Is ieL¢ivLid from
iiivestrnenis held ￿'1th1n the ben¢volenL I'und.
M#ryArtt11grtlti ￿￿Thd IprN'iTru%li' Gulf Fund)
-l-lii% resiTiCted fynd cornpri%es doiiaiions TeLeived for th¢ benefil ofyeomcn and iheiT lumilie8 on actii'c service.
Summary of Net A55tts by Funds
ixod Aiset
Nel currtnt
Banner fund
(iLnLr81 fund
375
292,322
375
287,7(K)
14.6221
I'otal unrt4trl¢t*d income funth
292.697
14,6221
28&075
Reslricled I'unth
Benevolent fund
221.171
24,2
4.016
245.470
4.016
Mar8ar¢L 14artleN' Fund
TolAI funth
513,868
23,693
537.561
T.rustee Eypensts
No trustee 01 an), person connected ii'ith them has Teceived or is due (o receive any rcmuiieration or expei)s¢s for the
year directly or indirectly from the Association 5 Funds.
10.
Controlling Pirtv
The Association is undei the control of the rnark38erDeRt committee.
12