**The Blues and Royals Association Annual Financial Report for 2022/2023** ## **Aims and Objectives** . During the past year the Association has continued to maintain its aims and objectives as laid down in the Constitution and Rules. In support of application for assistance, from members of the Association **and from other Military Charities who gave the Association Grants for the Military App, the sum of £66,180.54 has** been distributed from the funds. We also contribute to 25 cases for assistance, which have been seen and sanctioned by the committee. The Association Annual Dinner was held at The Castle Hotel, Windsor on Saturday 25[th] March 2023, with 210 members in attendance. The Annual General Meeting was held prior to the dinner, and the minutes of this meeting are in this year’s Regimental Journal. ## **Summary of Financial Assistance given during the year** . - Applications received 25 - • Grants / Donations made 23 - Applications referred to other funds 15 ## **Reasons for assistance** . The following is a summary of the main purposes for which grants / donations were made during the past year: - Accommodation Costs - • Clothing / Food Vouchers - • White/Brown Goods • Invalidity / EPV - • IT Equipment - • In-Pensioner Grants • Removals • Property Maintenance ## **Income** . Income during the year was £141,410.00 of which £47,436.53 was contributed by either serving officers or soldiers under the “One Days’ Pay Scheme”, 51% was kept by the Association for charitable use, 49% was transferred to the Household Cavalry Foundation. Donations were also received from members of the Association. The Dividends received from the Associations Investments amounted to £13,320.00 for this financial year, these were reinvested into the portfolio. ## **Expenditure.** Expenditure for the year totalled £151,073.39, these costs were made up from the Grants made by the Association and varies administrative expenditures in support of the Association Members including, transport for organise events i.e. Battlefield Tours, memorial parades, and dinner nights. It also covers admin cost for IT Support, insurance policies, Honorariums, postal cost, memorabilia and NMA Maintenance. In the past 12 months there have been considerable charitable support and assistance provided for setting up a new online and mobile platform support network for the Association and serving members. ## **Financial Statement** . |**Income**|**Income**|**01/04/2021 - 31/03/2022**|**01/04/2021 - 31/03/2022**|**01/04/2022 - 31/03/2023**| |---|---|---|---|---| |Dividends||£14,010.06||£0.00| |Bank Interest||£0.07||£5.22| |Information TechnologySupport||£876.18||£500.82| |Donations||£7,726.37||£14,233.93| |One Day’s PayScheme||£44,629.80||£47,436.53| |Christmas Cards||£6,401.43||£4,590.76| |Postage received for Cards||£953.87||£754.28| |Dinners||£12,437.36||£5,245.00| |Miscellaneous||£4,849.50||£3,605.99| |Grant Refunds / Transfer Repayments||£1,069.05||£47,748.25| |Diaries||£2,770.00||£2,414.00| |Wreaths||£127.21||£0.00| |Memorials||£0.00||£0.00| |Battlefeld Tours||£3,180.00||£14,875.22| |**Total**||**£99,030.90**||**£141,410.00**| |||||| |**Expenditure**||**01/04/2021 - 31/03/2022**||**01/04/2022 - 31/03/2023**| |Dividends||£0.00||£0.00| |Bank Interest||£0.00||£0.00| |Information TechnologySupport||£3,478.93||£3,426.31| |Donations||£1,015.25||£2,010.00| |One Day’s PayScheme||£21,868.43||£23,244.19| |Christmas Cards||£3,808.28||£18.00| |Postage received for Cards||£1,048.76||£2,444.83| |Dinners||£16,296.63||£15,130.28| |Miscellaneous||£13,783.90||£16,657.54| |Grant in Aid||£14,991.65||£66,180.54| |Diaries||£0.00||£0.00| |Wreaths||£787.54||£1,585.62| |Memorials||£1,186.69||£1,070.99| |Battlefeld Tours||£3,580.55||£19,305.09| |Transfer to Investments||£0.00||£0.00| |**Total**||**£81,846.61**||**£151,073.39**| |||||| |||**01/04/2021 - 31/03/2022**||**01/04/2022 - 31/03/2023**| |Cash in Hand||£0.00||£0.00| |Current and Deposit Accounts||£78,939.69||£69,276.30| |Total Cash and Bank||£78,939.69||£69,276.30| |Debtors||£0.00||£0.00| |Creditors||£0.00||£0.00| |**Total Funds**||**£78,939.69**||**£69,276.30**| ## **Investment Portfolio** . The Household Cavalry Foundation investment portfolio currently sits at £6,772,774.00, of which The Blues and Royals Association Investments make up 20.10% of this fund thus making our share of the portfolio valued at £1,388,739.00. ## **Report of the Independent Examiner** . I have examined the Associations Bank Statement, Balance Spreadsheets and the Income and Expenditure Accounts and report that, in my opinion, these give a true and fair view of the Association Financial affairs as at the 31[st ] March 2023, in line with the excess of income over expenditure for the year ended on this date. Mrs Jane Rozario Accounts Manager FGH Inns Ltd. ## **Independent examiner's report on the accounts** **Section A Independent Examiner’s Report Report to the trustees** The Blues and Royals Association **On accounts for the Charity no (if any)** 259191 **year ended**[31][st][ March 2023 ] **Set out on pages** (remember to include the page numbers of additional sheets) I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended **DD / MM / YYYY** . **Responsibilities and** As the charity's trustees, you are responsible for the preparation of **basis of report** the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. **Independent examiner's statement** [The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of [insert name of applicable listed body]]. _Delete_ [ ] _if not applicable._ I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect: - the accounting records were not kept in accordance with section 130 of the Charities Act; or - the accounts did not accord with the accounting records; or - the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. - _Please delete the words in the brackets if they do not apply._ **Date:** th **Signed:** 11 Jan 2024 **Name:** Mrs J Rozario **Relevant professional qualification(s) or body (if any):** **Address:**[The Old School House ][Petworth Road, Chiddingfold ][Godalming GU8 4UF ] ## **Section B Disclosure** Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners). **Give here brief details of any items that the examiner wishes to** Nothing to report. **disclose** .