Duke of Edinburgh's Own Gurkha Rifles Regimental Trust CIO I-IIL INDEPCXDENT SERN'ICES AGENCI. La"D. POBox314 Woking GU24 9FA Telephone." 012-, 6 855835 Email.. 1svcsageno@o1t¥C0I REGISTERED CHARITY NUMBER 257895 THE ANNUAL REPORT OF THE TRUSTEES ACCOUNTS OF THE CHARITY FOR THE YEAR ENDED TH 30 APRIL 2025
th 7 Duke of Edinburgh's Own Gurkha Rifles Regimentsl Trust cio THE INDEPENDENT SERVICES AGENCI. LTD. PO Box 314. West En Woktng GU24 9FA Tglphone_' 01276 855825 Emull." isvcsagency&owlTrA¢o ANNUAL REPORT FOR THE YEAR ENDED 30TH APRIL 2025 The 7 Duke of Edinburgh's Own Gurkha Rifles Regimental TnLSt (Registered Charity number 257895) is governed by a Trust Deed dated 21. March 1968 duly amended by Charity Commission schemes sealed on the l July 1994 and on 17 November 2000. The objects of the Charity are lo promo the efficiency of the Royal Gurkha Rifles, to relieve distress amongst fornier or s¢rving members of the RegimenL as well as fostering esprit d¢ corps and preserving the traditions of the Regiment. Public benef The Trust achieves its objectives by the making of clwitable grants out of its capital for the purpose of promoting the eftTiciency of the arn]ed forces of The Crown. particularly by supporting the welfare of fomier serving personnel and in commemorating the history and traditions of the Regiment. The Charity makes a range of grants that supwrt activities that are not adequately, or direcily, provided from Public FuThds. The TnleeS recognise the ben¢fits that this brings to the Arniy generally. They consider, therefore, that the Charity more than meets the requirement to provide Public Benefit under the charitsble "'Head- of 'Mhe promotion of the etTiciency of the armed force5 of The Crow, The Er-officio Trxflees are. Colonel MH Kefford, OBE. Chairn]an of the Regimentsl Aswiation Major P.H. Gay, Hon Secrelary of the Regimental Association Together with the following Cowopted Tru51ees,' MT J.W. Bulbeck Major T.D.P. O'Leary MBE Major Padam Bahadur Limbu MVO Lt Col Q.W.M. Naylor, MBE Colonel D.J. Robinson Captsin G. R. Smith Trustees are recruited from the membership of th¢ Regimental Association. They may only be contacted via the Charlty's Secretary at the address given on this lethead.
Activity during iheyear. The TnLSt's activities during the year included supwrt with major grants for Regimental gatherings in the UK. Nepal and Darjeeling. A iotsl of £5,900. was committed to these aclivities. Grants were made to finance the production costs of the Regimental Journal (£9.446.00 covering two years) and to the Royal Gurkha Rifles for chattels maintenance (£600). A major grant of £30.000.00 was made io the Gurkha Museum Tt. Overall charitable expenditure was £49.346.1X). Administratio Proper minutes of all meetings of Trustees have been kept. All necessary action to put into effect an). decision5 made by the Ttte5 ha5 been tsken. The Trust'ts investm¢nts were now centralised with CCLA in accumulation units of the COIF Chariti¢s Investment Fund. C&sh over and aEK)ve immediate drawing Tequir¢m¢nts is held on dew>sit with both The Royal Bank of Scotland and 7th COIF. During the year there w&$ a drawdown of capital of £30.0(X).00. The Trust is considered to be a going concern. The Jnveslmenl Policy (which is elaborated upon below): The Reserves Policy and The Risk Protile of the Charity are up to date. The Reserves Policy; The Trust is a mature trnst. subject to two factors: a. Its activtties and liabililies are likely to diminish with time. as numbers of fornier members of the Regiment in Nepal and elsewhere fall. b. It is a small trust with limiied infr&structure. where the TnLStees can only meet on an annual basis. The Scheme for the management of th¢ Regimental Trust sets out in Claws 29-32 the provisions for the management of investments and includes th¢ power of the Truste¢s lo appoinl an investment committee, to agree the general ternls of reference for the investment committee and delegated authoriti¢s. A totsl relurn policy is followed. The Aim of tbe Trust's Investment StrateLv. The aim of the I rust's Investment Straleg). is to m&ximi5e capital appreciation with a reasonable tolerance of risk. Given the factors listed in a and b above. the Truslees have agreed that this is besl achieved by a limiied amounl of cash Ing held on interest earning deposil and for the professional management of the Trusl's other assels. Capitsl is drdNvn dowTr from investments on an annual basis to meet outgoings. IDvestment Portfolio ThL follo.}ng general principles apply to the structh of the 7 GR TTht's wrtfolio of investments- All investments are lo be readily realisable and in inslruments approved by the Charity Commission and Financial Conduct Authority. These should b¢ Manag by reputable and well-founded financial institutions licensed by the FCA or su¢cc550r UK regulatory bodies.
b. Cash and deposits are to be held by a reputable UK headquartered banknffiuilding society with a balance on current accounl sufficient for foreseeable expendilure. The Independent Services Agency I$ been engaged by the TrteeS to act &s its administrator on all matters pertaining lo the management of the Trust. The Agency iaises with the investment manager, when necessary, on investmenl matters on behalf of the Trustees and al the direclion of the Tt'S Investment Commitfre. GovernaDCe. Trustees are selected on the basis of special skills that they can offer which will benefit the Charity in tenns of its operation. A balance is maintained in order to ensure that both the old Regiment and the CUent one (RGR) are adequately represenled. Trustees, training is mainly achieved by virtu¢ of posilions held by Truslees in their civilian or military capacities. Where necessary, th¢ Independeni Services Agency Ltd provides ScIalISed technical advice on relevant current charity matters. The TSteeS are all '*olunteers- and offer their services on a financially un-rewarded basis. No other volunleers are employed. No regular fund-raising activities were. or are, employed. Individual donations from the Tnembership olthe Regimentsj A&8ociation may be sought on special occasions for unique purposes. Risk Assessment and Policy. The TnleeS review the risks which might affect the Charity on a regular basis. Foremosi among them is the risk of a major collapse of the Stock Market. The Trusl s tnvestment stTategy is centred on the funds being managed by a major financial organisation. Written FK)licy documents are in place to cover risk management, investment and conflicts of interest. No such documents are considered to be Tequired to cover volunteer managemenL safeguarding vulnerdble beneficiaries and complaint handling as the Charity has no, and is most unlikely lo have any, involvement in such matter5. A copy of the annual accounw duly inspected, for the year ended 30 April 2025 is attached. Original signed by a Trnstee on behalf of aIl the Trustees;
Inde ndent Ex&miner's Re Rilles R imental Trust rt to the Trnstees of tbe 7th Duke of Edinbu h's Own Gurkh¥4 I rewrt the CoUnts of the Tnt for the riod ended 30 April 2025 &8 set out on the attached documents. Kes nsl+*llrfa o the TnLffees Eramlher As the Charity'5 Twstees you are reswnsible for the preparnion of the accounts: you consider thai the audit requirement of section 43(2) of the Charities Aci 1993 (the Ac() does NOT apply. li is my resp)nsibility to examine the accounLS under seeiion 145 of the Charities Act ?01 l (the Acil; and io follow the procedures laid down in the General Directions of the Charity Commissione]5 under section 145{5lb of the Aci and io swe whether particular mattets have come io my attention. Bluis o Ihe Ind ndeni s R My examination was carried out in accordance with the Generdl Directions given bv the Charity Commissioners. An examinaiion includes a review of the attouniing records kept by the Charity and a comparison of the accounts presented with those on record. li also includes considerdiioD of any unusual itern5 or di5closur¢s in the accoun and seeking explan&ions from you as TTUStees ¢on¢erning any such matter5. The priK¢dur¢s und¢rtaken do Provide all the evidence that would be required an audit. and wnsequently I do NOT expres5 an audii opinion on the view given in the accounts. Inde endeni EranunerJ &alemenl In connlI0n with my examin10n. NO matter h&8 come to my atteniion: (l) which gives me reasonable cause to lIeVe in any respect the requirements - to keep accounting records in accorthce with the Ad. and - to pr¢pare COunts which accord with the accouniing Yecoyds and to comply with the accounting requirements of the Aci have been md. or (2) io which. in my opinioTL attention shId be thawn in order to enable a proper undeT5tanding of the accounts to be reachoj. Name; A. C(IAkJvJrLL- CHIL3> 2015
7th Duke of Edlnbu h's Own Gurkha Rmes R Imentsl Trnst Income and Ex ndlture Account for the ear ended 30th A rf12025 2024 EXPENDITURE 2025 imental ,9M 7GR RA IUKI 7GRfor UK Regt BirthdayTpt £0. £4,000.00 £4.000.00 Regr Assn Nepal Brunei £3,500.00 £400.00 Eo.00 Hong Kong D3ee"nB CB BGK Shainik Bhawan £0.00 £2.000.00 £0.00 £2.. £i.LW.thJ £10.784.99 £5,900.00 £4,7&5.Th1 Rewmentsl Journal & website Postages on above Nepaljoumal prints"r 12yearsl £8..00 . £0.00 E827.(#J E795.C¥) £950.00 £6J57.rxi £9,446.00 Donations Total GBA Subscriptions {p0V52 years) Gurkha Museum Grant ,IPaid from Capital) Transfer to 7GR FIA Account Ire Willlsl £0.00 £30,000.00 £0.00 Transter of 7GR FL4 cash to CCLA £825.17 RGR Property maintenance £600.00 Memorial design work £1.200.00 Trustse disburnements Fares & mileage allowances Neplvisit £550.00 £500.00 £1,050.00 £10,20LOI Battlefield Tour Payfflents £4.062.18 Commercial Char Insurance £143. £143.80 E4.000.C retarialfee&VATl2>tarsi Bank charges NOTyet applied £151.50 £135.50 £4295aO Total Expenditure £57,362.65
2024 INCOME 2025 Investment Income £4A45.42 R4FCGIIF Tliisi NIL AJC closed £7Y).17 NIL Pje closed £&&35. £470.7 RBS Bank Deposil interest OIF Intewe5t Illellecledln baLqrKesIKyAb*reSheeIi £158.81 7GR RA Contribution tojoumal £420.19 Illis l(Jue to RAI Kefford refund Nepalvisit £i,O(KJ.00 £0.00 Memorial Project £1,2(Kl.00 Ei0,660. Itallan BFT recelpts £4.024.35 Total Income £6,803.35 £30,000.00 Capil4ldr4wdty NOTcounled as Income EIW4.4 Excess olexpendlture over Income £20,539.30 £57.362.65
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