THE MOST HONOURABLE ORDER OF THE BATH Trustees’ Annual Report 1st April 2022 - 31[st] March 2023
Charity registration number: 257501
Principal Office:
Central Chancery of the Orders of Knighthood St James’s Palace London SW1A 1BH
Objective
The main purpose of the charity is to meet the costs of Ceremonies connected with the Most Honourable Order of The Bath.
Achievements and performance
Throughout the year, memorial and other Christian services are held in Westminster Abbey to which a large number of the public are invited to attend.
Significant services during the year:
Weddings - 6 Baptisms - 8 Memorials - 3
Every four years the order holds a Ceremonial Service in Westminster Abbey, the last being on the 24[th] of May 2022, which was attended by over 2,000 people. The next Ceremonial Service is on May 2025.
The trustees have regard to the guidance issued by the Charity Commission on Public Benefit.
Structure, governance and management
The Trust is a registered charity, number 257501. Trustees are selected by all the listed trustees and are subject to approval by His Majesty The King. Certain trustees are appointed ex officio , for example the Secretary of the Central Chancery of the Orders of Knighthood is the Deputy Secretary and the Dean of Westminster Abbey is the Dean of the Order. The others are notable holders of the Order of the Bath.
The charity is constituted by its governing document, a declaration of trust, dated 31[st] July 1914.
Clause 2 of the declaration of trust:
“The trust fund shall be held for the purpose of meeting the cost of Ceremonies connected with the said Most Honourable Order of the Bath and shall be administered by a Committee consisting of the persons who from time to time shall be the officers of the Order viz: the Dean, the King of Arms, the Registrar and Secretary, the Genealogist and the Gentleman Usher of the Scarlet Rod.”
Trustees
| Dean | - The Very Reverend Dr David Michael Hoyle MBE |
|---|---|
| King of Arms | - Air Chief Marshal Sir Stephen Dalton GCB, ADC |
| Registrar and Secretary | - Major General Jamie Gordon CB CBE |
| (from April 2023) | |
| Rear Admiral Iain Henderson CB CBE DL | |
| (retired April 2023) | |
| Deputy Secretary | - Lieutenant Colonel Stephen Segrave |
Gentleman Usher of the Scarlet Rod - Major General Susan Ridge CB |
|
| (from June 2023) | |
| Major General Jamie Gordon CB CBE | |
| (as Registrar and Secretary from April 2023) | |
| Genealogist |
- David Vines White Esq |
Risk Management:
Periodically, the Trustees identify and review the major risks that may affect the stability and successful
Financial review
The major source of funding for the Order is from donations made by the Order's members, the tax rebates from these donations, and dividends from the Order's investments.
The income surplus over expenditure in 2023 amounts to £23,042.62 while the cash held at Coutts Bank totals £60,210.28. The market value of the investments at the end of the period is £1,306,841.98, down by 7% from March 2022. The Trustees review the performance of the Investment Manager on a regular basis.
The Trustees regularly review the amount of reserves that are required to be able to support the Order’s services and charitable contributions.
General funds are unrestricted funds that are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity.
Auditor
G J Lowe Ltd, Pennyweights, 168 Welcomes Road, Kenley, Surrey CR8 5HB
Banker
Coutts & Co. Villiers Office, 440 Strand, London WC2R OQS
Investment Manager
BlackRock Investment Management (UK) Limited, 12 Throgmorton Avenue, London, EC2N 2D
Declarations
The Trustees declare that they have approved the Trustees’ report above during the Officers’ meeting on the 10[th] of June 2023.
Signed on behalf of the Charity’s Trustees:
_____ Major General Jamie Gordon CB CBE Registrar and Secretary
_____ Lieutenant Colonel Stephen Segrave Deputy Secretary
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THE MOST HONOURABLE ORDER OF THE BATH
STATEMENT OF RECEIPTS AND PAYMENTS OF
THE CHAPEL MAINTENANCE FUND FOR THE YEAR ENDED 31st MARCH 2023
2022 RECEIPTS 2023 PAYMENTS 2023 2022
£6,126.80 SUBSCRIPTIONS & DONATIONS £5,997.80 AT HOME £697.91 £2,219.96
WESTMINSTER ABBEY SERVICE £21,043.65
DIVIDENDS & INTEREST
Coutts Money Market Interest £43.90 INSURANCE £387.09 £341.12
Coutts 90 Day Notice Account Int £237.63
BLK Charities UK Bond Fund £6,413.57 POSTAGE & CARRIAGE £299.65 £262.11
£38,455.93 BLK Charities UK Equity Fund/CGI £32,937.86 £39,632.96
ACCOUNTANCY FEE £480.00 £468.00
INCOME TAX REBATE
STALL PLATES £808.40
£890.24 2022-2023 £938.76
GALLOWAY BOOK STOCK
Closing stock £10,138.20
£83.10 £138.50
£125.00 GALLOWAY BOOK SALES £75.00 STALL FURNISHINGS BY INSTALMENT £610.50
£45,597.97 £46,644.52 £23,601.90 £4,238.09
SURPLUS OF INCOME OVER EXPENDITURE £23,042.62 £41,371.88
£45,597.97 £46,644.52 £46,644.52 £45,609.97
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BALANCE SHEET AT 31st MARCH 2023
ASSETS
LIABILITIES
SHARES - MARKET VALUE @ 31/3/23
FUNDS BLK Charities UK Bond Fund £ 161,730.48
£1,893,338.42 Funds as at 31/3/22 £1,974,572.60 BLK Charities UK Equity Fund/CGI £ 1,145,111.50
£39,862.30 Change in Value of Assets -£139,574.93 £1,306,841.98 £1,407,065.58
£41,371.88 Income surplus £23,042.62
PROPERTY
Mantles £ 10.00
Property at Westminster £ 481,620.00 £481,630.00 £481,630.00
FUNDS AT BANK (COUTTS)
Chapel Current Account
Chapel Money Market Account £ 34,468.90
Chapel 90 Day Notice Account £ 25,741.38 £60,210.28 £69,659.40
BOOK STOCK
The Order of the Bath Book £10,138.20 £10,221.30
STALL FURNISHINGS BY INSTALMENTS
Amounts due or prepaid as at 31/3/23 -£1,718.93 £5,106.08
GIFT AID £938.76 £890.24
£1,974,572.60 £1,858,040.29 £1,858,040.29 £1,974,572.60
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The above accounts have been examined and in my opinion are true and fair
Recommended for Approval
Accountant, G J Lowe FCCA
King of Arms, Bath Chapel Committee
Secretary, Bath Chapel Committee
Independent Examiner’s Report to the Officers of The Order of The Bath
We report on the accounts of the Order for the year ended 31 March 2023, which are set out on the attached sheet.
Responsibilities and basis of report
As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Order’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
-
accounting records were not kept in accordance with section 130 of the Act or
-
the accounts do not accord with the accounting records
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Gary Lowe FCCA
G J Lowe Limited Chartered Certified Accountants
Pennyweights Welcomes Road Kenley Surrey CR8 5HB
23 June 2023