2020-12-31-accounts - Royal Engineers Association

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					Page
Trustees' report					1-8
Reference and adminiistrative		details ofthe charity,	iis trustees	and advisers	9-10
Independent auditor's	report				11 —14
Statement offinancial	activities				15
Balance sheet
Statement ofcash flows					17
Notes to the financial	statements				18-29

			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
		Note	2020f	2020 5	2020	2019 E
Income and endowments	from:
Donations & Legacies Other trading activities Investment income Other income		3 9 10 11	716,162 22,571 411,088 11,289	19,702 -	716,162 22,571 430,790 11,289	570,243 138,047 425,080 22,059
Total income			1161,110	19,702	1,180,812	1 155429
Expenditure on:
Raising Funds Charitable activities		12 13	5,342 1,370,163	24,903	5,342 1,395,068	3,052 1,425,352
Total expenditure			1375,505	24,903	1,400 408	1 428 404
Net expenditure before	revaluations		(214,395)	(5,201)	(219,596)	(272,975)
Net gains on investments		19	552,951	27,075	580,026	1,520,885
Net movement in funds	for year		338,556	21,874	360,430	1,247,910
Reconciliation offunds
Total funds at 1 January 2020			12,333,777	697,187	13,030,964	11,783,054
Total funds at 31December 2020			12,672,333	719,061	13391,394	13030,964

				2020		2019
Fixed assets			Note	8		8
Tangible assets			18		90,782		85,943
Investments			19		124119,090		12,164,035
					12,590,457		12,249,978
Current assets
Debtors			20	189,808		173,471
Cash at bank and	in	hand		802117		663,053
				831,723		838,524
Creditors: amounts one year		falling due within	21	(30,788)		(55,538)
Net current assets					800037		780,986
Net assets					13391304		13030,004
Charity Funds
Restricted funds			22		720,801		696,516
Unrestricted funds			22		12870,793		12,334,448
Total funds					13,391,394		13,030,964

			Note	2020	2019
Net cash used in operating activities			27	(665396)	(708844
Cash flows from investing activities
Interest and dividends Purchase oftangible fixed assets Movement on Branch Investments Disposal offixed asset investments				430,790 (10,696) (5,634) 250„000	425,080 (7,815) 4,182
Cash provided by (used in) investing	activities			664,460	421,627
Increase/(decrease) in cash and cash
equivalents in the year				936	285217
Cash and cash equivalents at the beginning		ofthe year		663,053	948,289
Total cash and cash equivalents at the end ofthe year				662,117	663,053

th	e year end	ed 31 December 2	020
				Unrestricted	Restricted	Total	Total
				funds	funds	funds	funds
				2020	2020	2020	2019
3	Donations	& Legacies
	Donations Legacies		(Note 4) (Note 5)	125,847 125,000		125,847 125,000	82,761 28,728
	Grants		(Note 6)	2,500		2,500	2,500
	Subscriptions Donated services and facilities		(Note 7) (Note 8)	384,193 78,622		384,193 78,622	382,759 75,495
				716162		716162	570,243

	General donations Donations from branches Tax refund	General donations Donations from branches Tax refund		119,879 830 952		119,879 830 952	74,764 5,381
	Website donations Sapper Network			2,836 1,350		2,836 1,350	2,616
				125,847		125,847	82,761
5	Legacies
	Other legacies			125000		125000	26 728
6	Grants
	H&M Charitable	Trust		2,500		2,500	2,500
7	Subscriptions	and tax
					6	6
	Membership			17,472		17,472	24,554
	Grant from RECCT (represents Pay Scheme subscriptions to		50%of Day's RECCT)	366,721		366,721	358,205
				384,193		384193	382 759

t	he year ended	31 Dece	mber 2020
			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
			2020	2020	2020	2019
8	Donated services and		facilities
	Gas Electricity Water and sewage		1,757 2,068 835		1,757 2,068 835	1,744 2,044 822
	Community charge Utilities MOD salaries Administration salaries		5,519 1,421 28,093 38,929		5,519 1,421 28,093 38,929	5,465 1,421 26,000 37,999
	Total		78622		78622	75,495
9	Other trading	activities
				6	E	E
	Esprit de Corps	income	22 571		22,571	138,047
	REA Branches	generated	E22,571 (2019 —E138,047) from activities.

10	Investment	income
	Dividends —Armed Forces Charities Bank interest		Fund	411,041 47	19,645 57	430,686 104	424,627 453
				411088	19,702	430,790	425 080

	Activities
	undertaken directly	Support costs	Total	Total
	2020	2020	2020	2019
	6	E		E
Benevolence (Note 14) Esprit de Corps (Note 15)	476,534 594,593	134,617 189,322	611,151 783,915	627,090 798,262
	1071 127	323939	1395,066	1 425,352

			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
			2020	2020	2020	2019
14	Benevolence grants and allowances
	Activities undertaken	directly
	Grants Christmas grants Weekly allowances Army Benevolent Fund SSAFA Families Help Other charities		248,456 11,503 125,767 50,000 20,000	24,903	273,359 11,503 125,767 50,000 20,000	300,485 12,210 137,671 50,000 20,000 402
	Refund Grants previous	years	(4,095)		(4,095)	(7,607)
	Support Costs		451,631	24,903	476,534	513,161
	Committee 8 Travel costs Audit Fees &Subscriptions Insurance Administration Post &Telephone Depreciation Donated services support costs Donated services MOD salaries Staff costs		600 3,576 3,773 1,435 4,344 2„340 294 22,173 28,093 67,989		600 3,576 3,773 1,435 4,344 2,340 294 22,173 28,093 67,989	1,907 3,360 2,446 1,355 3,355 2,120 252 21,831 26,000 51,303
			134,617		134 617	113929
			586248	24,903	611,151	627090

		Unrestricted	Restiicted	Total	Total
		funds	funds	funds	funds
		2020	2020	2020	2019
15Esprit de Corps
Activities undertaken	directly
Corps activities Branch donations Branch activities		539,659 10,332 43,204		539,659 10,332 43,204	325,545 21,974 218,038
Annual Conference Annual Dinner Sapper Sunday Lunch REVETT Grant Refund previous year		1,398		1,398	7,440 7,515 1,285 30,000 (5,103)
Support Costs		594,593		594,593	606,694
Committee 8 Travel costs Audit Fees &Subscriptions Insurance Administration Post &telephone Depreciation Donated services support costs Staff Costs		2,399 3,576 3,773 1,435 4,803 2,340 5,583 28,356 137,057		2,399 3,576 3,773 1,435 4,803 2,340 5,583 28,356 137,057	7,627 3,360 2,446 1,355 4,188 2,120 4,792 27,664 138,016
		189,322		189,322	191,568
		783915		783,915	798,262
16 Net Income / Expenditure
This is stated after charging: Depreciation oftangible fixed assets:				E	5
—owned by the charity Auditor's remuneration				5,877 7 152	5,044 6,720

						Total	Total
						funds	funds
17	Staff costs					2020 6	2019 F
	Staff costs were as follows:
	Wages and salaries Social security costs Other pension costs					179,961 12,423 12,662	165,391 11,649 12,279
						205046	189,319
	The average monthly	number of	employees	during	the year was as follows:	No.	No.
	Management and administration		ofthe charity

18Tangible fixed assets
	Unrestricted Designated Fixtures & fittings	Unrestricted General Property	Unrestricted General Computer equipment	Total
		5
Cost
At 1 January 2020 Additions	79,043 6,532	115,591	21,487 4,164	216,121 10,696
At 31 December 2020	85„575	115„591	25,651	226 817
Depreciation
At 1 January 2020 Charge for the year	11,865	106„455 2,324	11,858 3,553	130,178 5,877
At 31 December 2020	11,865	108,779	15,411	136,055
Net book value
At 31 December 2020	73710	6,813	10,238	90762
At 31 December 2019	67,178	9137	9,629	85,944

		Listed	Branch	Total
		securities	Investments
		6	f
INarket value
At 1 January 2020 Disposals Revaluations Movement on branch	investments	12,144,870 (250,000) 580,026	19,165 5,634	12,164,035 (250,000) 580,026 5,634
At 31 December 2020		12,474,896	24,799	12499,695
Historical cost		5,847,891	22,550	5,870,441
Investments at market value comprise:
			2020	2019
			6	E
Listed investments Branch investments Total market value			12,474,896 24799 12,499 695	12,144,870 19,165 12,164,035

20	Debtors
		2020	2019
		6	5
	Branch debtors Other debtors Prepayments and accrued income	137,441 32,165	1,116 137,862 34,493
		169606	173,471
21	Creditors:
	Amounts falling due within one year
	Branch creditors Other creditors	4,735 26,051	4,604 50,934
		30,786	55 538

22 Statement offunds	22 Statement offunds
Current Year			Brought Forward 5	Income E	Expenditure 5	Transfers in/out	Gains/ (Losses)	Carried Forward 6
Designated funds
Branch funds			432 257	160,813	(53,537			539533
General funds
General funds			11,902,191	1,000,297	1,321,968	2,211	552,951	12,131,260
Total Unrestricted	funds		12,334,448	1,161,110	1,375,505	2,211	552,951	12,670,793
Restricted funds
Gabriel Fund Kitchener Scholarship		Fund	2,691 693,825	19,702	(7,460) 17,443	4,769 2,558	27,075	720,601
Total Restricted	Funds		696,516	19,702	(24,903	2,211	27,075	720,601
Total offunds			'l3,030,964	1,180,812	1,400,408		580,026	13,391,394
Prior Year			Brought Forward	Income 6	Expenditure 6	Transfers in/out 5	Gains/ (Losses) 6	Canted Forward 6
Designated funds
Branch funds			420 660	251 609	240,012			432 257
General funds
General funds			10,744,668	1,136,029	(1,430,379)		1,451 873	11902 191
Total Unrestricted	funds		11 165,328	1,387638	1,670,391		1,45'I,873	12,334448
Restricted funds
Gabriel Fund Kitchener Scholarship		Fund	3,362 614364	2 19,400	(673) 8,951		69,012	2,691 693825
Total Restricted Funds			617726	19,402	9,624		69,012	696516
Total offunds			11,783,054	1,407,040	1,680,015		1,520 885	13030964

23 Analysis ofnet assets between
Current Year	Unrestricted	Restricted	Total
	funds	funds	funds
	2020	2020	2020
	6		5
Tangible fixed assets Fixed asset investments Current assets Creditors due within one year	90,762 11,923,675 687,142 (30,786)	576„020 144,581	90,762 12,499,695 831,723 (30,786)
	12670793	720 601	13391394
Prior Year	Unrestricted	Restricted	Total
	funds	funds	funds
	2019	2019	2019
			5
Tangible fixed assets Fixed asset investments Current assets Creditors due within one year	85,943 11,612,950 691,093 (55,538)	551,085 145,431	85,943 12,164,035 836,524 (55,538)
	12,334,448	696,516	13,030,964


All transactions with related parties are disclosed	in the Trustees		Report and notes to the accounts.
Reconciliation ofnet movement in funds to net
cash flow from operating activities.
		Total	Total
		funds	funds
		2020	2019
Net movement in funds Add back depreciation charge Deduct interest income shown in investing activities Deduct gains / add back losses on investments Decrease (increase) in debtors Increase (decrease) in creditors		360,430 5,877 (430,790) (580,026) 3,865 (24,752)	1,247,910 5,044 (425,080) (1,520,884) 1,702 (15,536)
Net cash used in operating activities		665,396	706,844