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@o￿1t¥￿C0￿I
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
Tgl*phone_' 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 Tn￿leeS 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 let￿head.

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 T￿￿t. 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 T￿￿tte5 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 TTh￿t'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 Tr￿teeS 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 T￿￿t'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 CU￿ent 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 S￿cIalISed technical advice on relevant current charity matters.
The T￿SteeS 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 Tn￿leeS 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 Tn￿t 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 conn￿lI0n with my examin￿10n. 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 sh￿Id 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
D3￿ee￿"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 {p￿0V52 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 baLqrKesIKyA￿￿b*r￿eSheeIi
£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

11