THE COLDSTREAM GUARDS ASSOCIATION
BALANCE SHEET AND ACCOUNTS
For the year ended 31 December 2024
A Registered Charity No. 260338
THE COLDSTREAM GUARDS ASSOCIATION
| THE COLDSTREAM GUARDS ASSOCIATION | |
|---|---|
| INDEX | |
| Page | |
| Information | 1 |
| Trustees’ Annual Report | 2 - 4 |
| Independent Examiner’s Report | 5 |
| Statement of Financial Activity | 6 |
| Balance Sheet, Statement of Assets and Liabilities | 7 |
| Notes to the Accounts | 8 - 9 |
| Statement of Financial Activity for Regimental Headquarters | 10 |
| Balance Sheet, Statement of Assets and Liabilities | |
| for the Regimental Headquarters | 11 |
| Statement of Financial Activity for Branches | 12 |
| Balance Sheet, Statement of Assets and Liabilities | |
| for the Branches | 13 |
1
THE COLDSTREAM GUARDS ASSOCIATION
Legal and Administrative Information
Patron:
The Colonel of the Regiment, Lieutenant General Sir J J C Bucknall KCB CBE
President:
Lieutenant Colonel (Ret’d) D Hugh Toler MBE DL
Trustees:
Lieutenant Colonel (Ret’d) D Hugh Toler MBE DL, Chairman Major (Ret’d) L Winter Colonel JHF Thurstan (appointed 10 January 2024)
Hon. Treasurer:
Colonel (Ret’d) J D Bagshaw CBE LVO
Nat. Sec:
S Francoise Reid, Assistant Regimental Adjutant
Registered Charity Number: 260338
Principal Address:
Regimental Headquarters Coldstream Guards Wellington Barracks Birdcage Walk LONDON SW1E 6HQ
Independent Examiner:
A J Spofforth FCA Spofforth Partners Limited Byne Cottage, Manley’s Hill Storrington, West Sussex RH20 4BN
2
THE COLDSTREAM GUARDS ASSOCIATION
TRUSTEES’ ANNUAL REPORT
Reference and administration details
The Trustees present their Annual Report for the year ended 31 December 2024, for the Charity known as The Coldstream Guards Association. The registered number of the Charity is 260338. The charity was previously known as “The Coldstreamers’ Association”. The Charity’s principal address, Trustees who manage the Charity and advisers are shown on the Legal and Administrative Information page.
Structure, governance and management
The Charity is governed by the Rules of the Association.
The Association comprises of Regimental Headquarters with 20 active branches which are spread over the United Kingdom.
Regular meetings are held with branch secretaries and Trustees. Branches are run autonomously from Regimental Headquarters, and have local examinations by Association members who are not the Secretary or the Treasurer of the books and records.
Objectives and activities
The rules of the Association were amended by Scheme on 22 January 2021, and the charitable objects are now to promote the efficiency of the Coldstream Guards (“the Regiment”) by
a) fostering esprit de corps, welfare and comradeship between past and present members of the Regiment and preserving the Regiment’s history, heritage, traditions and military accomplishments
b) assisting members or former members of the Regiment with their transition to civilian life, and
c) relieving the hardship, distress or need of members or former members of the Regiment or their families or other dependents.
The Charity carried out its activities in pursuance of the objects stated above. It subsidises the distribution of the Coldstream Gazette, a publication which keeps all Coldstreamers in touch with the Regiment.
The activities of the Association at Regimental Headquarters are shown on pages 10 and 11 for the year ended 31 December 2024.
The aggregate activities of the active branches are shown on page 12 and 13 for the year ended 31 December 2024.
3
THE COLDSTREAM GUARDS ASSOCIATION
TRUSTEES’ ANNUAL REPORT
- continued –
Risk Management Review
The Trustees review the major risks to which the charity is exposed, at their regular meetings, in particular those related to the finances of the charity, and are satisfied that systems are in place to mitigate the exposure to major risks.
The charity does not engage in activities that may result in a major risk to its continuing operation.
Achievements and performance
Donations and legacies were £25,076 (2023: £43,186). Income from Charitable activities, which are branch lunches and socials were £36,745 (2023: £36,546). Other activities reduced to £18,370 (2023: £24,573).
Expenditure on charitable activities was £68,691 (2023: £79,005). Other fundraising expenses were £16,209 (2023: £8,734). Other costs for governance were £5,346 (2023: £15,573).
This resulted in a deficit and use of funds for the 2024 year of £17,255 (2023: deficit of £2,739).
Public Benefit
The trustees have complied with section 17 of the Charities Act 2011 requiring them to have regard to the public benefit guidance published by the Charities Commission; the charity covered by this Report assists past service personnel to keep in touch with the Regiment and continue to provide assistance for the relief of hardship, need and the effects of disability, all of which maintains the identity and strength of the Regiment.
Reserves policy
Branches hold reserves in cash held at banks and in suitable deposit accounts, in order to fund local charitable activities.
The Regimental Headquarters holds reserves adequate to fund Central Association Days, Memorial Days and central overheads of the Association.
4
THE COLDSTREAM GUARDS ASSOCIATION
TRUSTEES’ ANNUAL REPORT
- continued –
Trustees’ responsibilities in relation to the financial statements
Trustees are required to prepare financial statements that give a true and fair view of the state of affairs of the charity at the end of the financial year and of its surplus or deficit for the financial year.
In doing so the trustees are required to:
-
Select suitable accounting policies and then apply them consistently;
-
Make judgements and estimates that are reasonable and prudent; and
-
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
D H Toler
Trustee
Date:
5
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE COLDSTREAM GUARDS ASSOCIATION
I report to the Trustees on the accounts of the Coldstream Guards Association for the year ended 31 December 2024, which are set out on pages 6 to 13.
Respective responsibilities of the trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to: examine the accounts under section 145 of the 2011 Act;
follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
- which gives me reasonable cause to believe that, in any material respect, the requirements to keep accounting records in accordance with section 130 of the 2011 Act; and
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
A J Spofforth, BA FCA Spofforth Partners Limited
Byne Cottage, Manley’s Hill Storrington, West Sussex RH20 4BN
Date:
6
THE COLDSTREAM GUARDS ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES FOR BOTH THE REGIMENTAL HEADQUARTERS AND BRANCHES FOR THE YEAR ENDED 31 DECEMBER 2024
| Unrestricted | Unrestricted | |
|---|---|---|
| Funds | Funds | |
| 2024 | 2023 | |
| Income | ||
| Donations and legacies | 25,076 | 43,186 |
| Charitable activities (note 3) | 36,745 | 36,546 |
| Fundraising income | 18,370 | 24,573 |
| Investments | 2,915 | 2,482 |
| Other income | 1,623 | 5,428 |
| ────── | ────── | |
| Total Income | 84,729 | 112,215 |
| ────── | ────── | |
| Expenditure | ||
| Charitable activities (note 3) | 68,691 | 79,005 |
| Fundraising expenses | 16,209 | 8,734 |
| Other costs of governance (note 4) | 5,346 | 15,573 |
| Other costs | 11,738 | 11,642 |
| ────── | ────── | |
| Total Expenditure | 101,984 | 114,954 |
| ────── | ────── | |
| Net (deficit) for the year | ||
| and net movement in funds | (17,255) | (2,739) |
| Total funds brought forward | 226,762 | 229,501 |
| ────── | ────── | |
| Total funds carried forward | £209,507 | £226,762 |
| ═════ | ═════ |
7
THE COLDSTREAM GUARDS ASSOCIATION
BALANCE SHEET FOR BOTH THE REGIMENTAL HEADQUARTERS AND BRANCHES FOR THE YEAR ENDED 31 DECEMBER 2024
| 2024 | 2023 | |
|---|---|---|
| Current Assets | ||
| Stocks | 15,910 | 18,014 |
| Silver gilt badges | 3,380 | 3,510 |
| Debtors | 928 | 1,044 |
| Cash at bank in hand | 197,985 | 214,392 |
| ─────── | ─────── | |
| 218,203 | 236,960 | |
| Creditors: Amounts falling | ||
| due within one year | (8,696) | (10,198) |
| ─────── | ─────── | |
| Net Current Assets | 209,507 | 226,762 |
| ─────── | ─────── | |
| ─────── | ─────── | |
| Net Assets | £209,507 | £226,762 |
| ═════ | ═════ | |
| ─────── | ─────── | |
| Total Unrestricted Funds | £209,507 | £226,762 |
| ═════ | ═════ |
Approved
D H Toler
Trustee
Date:
8
THE COLDSTREAM GUARDS ASSOCIATION NOTES TO THE ACCOUNTS
1. Basis of preparation
1.1 Basis of accounting
These accounts have been prepared on an accruals basis in accordance with the accounting regulations of the Charities SORP (FRS 102) and accounting standards.
2. Principal accounting policies
2.1. Income
All donations, bequests and activities in furtherance of the charity’s objects are accounted for on a receipts basis.
Where incoming resources have related expenditure the incoming resources are reported gross in the Statement of Financial Activities (SoFA).
Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to which they relate.
Investment income is included in the SoFA when it has been received.
2.2. Expenditure and liabilities
Liabilities are recognised as soon as there is a legal or constructive obligation committing the Charity to pay out resources.
The secretary and treasurer of each individual branch administer the funds under the control of branches, whilst the remainder of the funds are controlled at Regimental Headquarters.
2.3 Stocks
Stocks are valued at the lower of cost and net realisable value.
2.4 Funds held
The Regimental Headquarters holds reserves adequate to fund Central Association Days, Memorial Days and central overheads of the Association.
The unrestricted funds are held in the case of branches to fund local charitable activities.
2.5 Cash and cash equivalents
Cash includes funds held on deposit with banks and cash in hand.
9
THE COLDSTREAM GUARDS ASSOCIATION NOTES TO THE ACCOUNTS
3. Charitable activities can be broadly analysed as follows:
| 2024 | 2023 | |
|---|---|---|
| Income | ||
| Association meetings | 31,743 | 31,425 |
| Socials, trips and miscellaneous events | 5,002 | 5,121 |
| ────── | ────── | |
| £36,745 | £36,546 | |
| ════ | ════ | |
| 2024 | 2023 | |
| Expenditure | ||
| Association meetings | 32,273 | 37,063 |
| Social trips and miscellaneous events | 25,088 | 20,677 |
| Welfare grants and donations | 4,510 | 15,605 |
| Wreaths and flowers | 417 | 728 |
| Gazette subsidy | 6,403 | 4,662 |
| Other | - | 270 |
| ────── | ────── | |
| £68,691 | £79,005 | |
| ════ | ════ | |
| 4. Other costs of governance | ||
| 2024 | 2023 | |
| Branch officers’ expenses | 2,446 | 3,643 |
| Secretaries conference expenses | 240 | 6,133 |
| Preparation and examination of accounts | 2,660 | 2,494 |
| Part-time National Secretary | - | 3,303 |
| ────── | ────── | |
| £5,346 | £15,573 | |
| ════ | ════ |
5. Support costs
These include expenses reimbursed and presentations to voluntary workers of Association branches. The Association is dependent upon a large amount of unpaid voluntary work and time at branch level, which cannot be quantified.
6. Trustees expenses
The Trustees were reimbursed £nil (2023: £150) for their expenses incurred in attending various Association branch meetings and dinners.
10
THE COLDSTREAM GUARDS ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES CONTROLLED AT REGIMENTAL HEADQUARTERS FOR THE YEAR ENDED 31 DECEMBER 2024
| Unrestricted | Unrestricted | |
|---|---|---|
| Funds | Funds | |
| 2024 | 2023 | |
| Income | ||
| Donations and legacies | 5,293 | 19,000 |
| Fundraising income | 10,163 | 14,823 |
| Investment income | 2,699 | 2,357 |
| Suspended branch funds | 4,980 | 4,035 |
| ────── | ────── | |
| Total Income | 23,135 | 40,215 |
| ────── | ────── | |
| Expenditure | ||
| Charitable activities | 6,403 | 13,732 |
| Fundraising costs | 13,781 | 6,706 |
| Other costs of governance | 2,900 | 11,930 |
| Other costs | 2,222 | 4,417 |
| ────── | ────── | |
| Total Expenditure | 25,306 | 36,765 |
| ────── | ────── | |
| Net (deficit)/surplus for the year | ||
| and net movement in funds | (2,171) | 3,430 |
| Total funds brought forward | 98,122 | 94,692 |
| ────── | ────── | |
| Total funds carried forward | £95,951 | £98,122 |
| ═════ | ═════ |
11
THE COLDSTREAM GUARDS ASSOCIATION
BALANCE SHEET AS AT 31 DECEMBER 2024 CONTROLLED AT REGIMENTAL HEADQUARTERS
| 2024 | 2023 | |
|---|---|---|
| Current Assets | ||
| Stocks | 12,607 | 14,313 |
| Silver gilt badges | 3,380 | 3,510 |
| Cash at bank in hand | 88,448 | 89,836 |
| ────── | ────── | |
| 104,435 | 107,659 | |
| Current Liabilities | ||
| Creditors: Amounts falling | ||
| due within one year | (8,484) | (9,537) |
| ────── | ────── | |
| Net current assets | 95,951 | 98,122 |
| ────── | ────── | |
| ────── | ────── | |
| Net assets | £95,951 | £98,122 |
| ═════ | ════ | |
| ────── | ────── | |
| Total unrestricted funds | £95,951 | £98,122 |
| ═════ | ════ |
12
THE COLDSTREAM GUARDS ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES CONTROLLED BY BRANCHES FOR THE YEAR ENDED 31 DECEMBER 2024
| Unrestricted | Unrestricted | |
|---|---|---|
| Funds | Funds | |
| 2024 | 2023 | |
| Income | ||
| Donations and legacies | 19,783 | 24,186 |
| Charitable activities | 36,745 | 36,546 |
| Fundraising income | 8,207 | 9,750 |
| Investment income | 216 | 125 |
| Other income | 1,623 | 1,393 |
| ────── | ────── | |
| Total Income | 66,574 | 72,000 |
| ────── | ────── | |
| Expenditure | ||
| Charitable activities | 62,228 | 65,273 |
| Suspended branch funds | 4,980 | - |
| Fundraising expenses | 2,428 | 2,028 |
| Other costs of governance | 2,446 | 3,643 |
| Other costs | 9,516 | 7,225 |
| ────── | ────── | |
| Total Expenditure | 81,658 | 78,169 |
| ────── | ────── | |
| Net (deficit) for the year | ||
| and net movement in funds | (15,084) | (6,169) |
| Total funds brought forward | 128,640 | 134,809 |
| ─────── | ─────── | |
| Total funds carried forward | £113,556 | £128,640 |
| ═════ | ═════ |
13
THE COLDSTREAM GUARDS ASSOCIATION
BALANCE SHEET AS AT 31 DECEMBER 2024 CONTROLLED BY BRANCHES
| 2024 | 2023 | |
|---|---|---|
| Current Assets | ||
| Stocks | 3,303 | 3,701 |
| Debtors | 928 | 1,1044 |
| Cash at bank in hand | 109,537 | 124,556 |
| ────── | ────── | |
| 129,301 | 129,301 | |
| ────── | ────── | |
| Current Liabilities | ||
| Creditors: Amounts falling | ||
| due within one year | (212) | (661) |
| ────── | ────── | |
| Net current assets | 113,556 | 128,640 |
| ────── | ────── | |
| ─────── | ─────── | |
| Net assets | £113,556 | £128,640 |
| ═════ | ═════ | |
| ─────── | ─────── | |
| Total unrestricted funds | £113,556 | £128,640 |
| ═════ | ═════ |