_The First Sea Lord, Admiral Sir Ben Key, addresses RNA National Conference in Liverpool_ ## **Royal Naval Association Annual Trustees Report 2023** **Includes** **Report to Annual Conference 2024 Annual Accounts for Financial Year 2023** Central Office Building 1/087, Scott Road HM Naval Base PORTSMOUTH, PO1 3LU - - www.royal naval association.co.uk Registered Charity Number 266982 ## **EXECUTIVE SUMMARY** **The RNA is a going concern; indeed, it is thriving. The major events in the year included a highly successful AGM and Annual Conference in Liverpool which coincided with the 80[th] Anniversary of the turning of the tide in the Battle of the Atlantic, the hosting of the Naval Associations Parade at the Cenotaph and, recognising the importance of Welfare and Wellbeing of our Shipmates, a well attended symposium weekend to educate and inform those in our Branches involved in the provision of this support.** **At the close of 2023, our membership numbers were sitting just shy of 19000 members and our finances are in better shape than a year ago. RNRMC now do our Management Accounts with Brooms retained as our Auditors; Sarasin are our Investment Managers.** **S/m Keith Ridley stood down as National Chairman after seven years of dedicated service and was succeeded by S/m Peter Godwin.** **Another successful World Uckers Championships was staged in Portsmouth as well as the routine business of Culture and Values Sessions with Phase 2 trainees and support projects like Project Semaphore.** **The Association was represented at the Coronation of the King both by our National President, VAdm Duncan Potts CB and our National Standard Bearer, Steve Champion. Confirmation of continuation of patronage by the Monarch is awaited. Recognising the RNA’s role as current President of the International Maritime Confederation, the National President laid a wreath at the German Naval Memorial in Keil on Armistice Day.** ## **REFERENCE and ADMINISTRATIVE DETAIL** ## 1. **Central Office Address** Royal Naval Association Central Office Building 1/087 Scott Road HMNB PORTSMOUTH Hants PO1 3LU 2. **The Trustees.** As at 31 December 2023 the Trustees of the Royal Naval Association were: VAdm D L Potts CB National President Cdre M Slawson OBE RN Deputy National President S/m R Lock MBE Vice-President S/m K Ridley Vice-President and NCM 6 Area WO1 J Wright Vice President – Warrant Officer to the Royal Navy WO1 C Robson Vice President – Serving Member S/M P Godwin National Chairman & NCM 8 Area S/M A Christie Deputy National Chairman & NCM 3 Area _New National Chairman: Peter Godwin_ RNA Annual Trustees Report for 2023 Page | 2 |S/M M Foley|NCM|1 Area| |---|---|---| |S/M W Belfitt|NCM|4 Area| |S/M P Chivers|NCM|5 Area| |S/M L Higgon-Young|NCM|7 Area (S Wales and Gloucester) & Overseas| |S/M S Simmons|NCM|10 Area| |S/M R Hastie-Murray|NCM|11 Area| |S/m P Stephenson|NCM|12 Area (Ireland)| |S/M S Elliot|NCM|Scottish Area| |S/M I Irvin|National|Treasurer| No 2 and No 9 Area NCM/Trustee billets remain vacant. 3. **Executive Staff.** The Trustees delegate responsibility for the day-to-day management of the affairs of the Association to its General Secretary, Capt Bill Oliphant RN. The Central Office team in 2023 consisted of: 4. **Independent Examination.** The Association’s Auditors acting as independent examiners are Messrs Brooms Professional Services Ltd of Broom House, 39/43 London Road, Hadleigh, BENFLEET, Essex, SS7 2QL. They are represented by Mr Kevin Cornelius a Director of the Company. 5. **Bankers** . Our bookkeeping and management accounts are now done by RNRMC and our accounts sit with the RBS. Branch: Holt’s, 31-35 Victoria Rd, Farnborough, GU14 7NR. Our investment managers are Sarasin and Partners LLP under a custody arrangement with the RNRMC on a RNA Annual Trustees Report for 2023 Page | 3 unitised basis. The National Hon Treasurer, Ian Irvin, represents the Association at the RNRMC Investment Committee. 6. **Solicitors.** The Association’s Solicitors are Messrs Blake Morgan LLP, Harbour Court, Compass Rd, Portsmouth PO6 4ST. 7. **Advisors** . In addition, the Trustees have appointed a number of Advisors to assist the Association Management Committee: S/M Nick Purkis Head of Governance Committee S/M Geoff Apperley BEM National Welfare Advisor S/M Mike Smyth National Ceremonial Advisor S/M Gareth Booth National Branch Recruitment and Retention Advisor S/M Steven Caulfield National Events Advisor S/M Terry Whitty HMS RALEIGH Lead Mentor ## **Report of the Trustees for the year ended 31 December 2023** ## **GOVERNANCE AND MANAGEMENT** 8. The Trustees present their annual report and financial statements of the Charity for the year ended 31 December 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity’s Royal Charter, the Charities Act 2011 (in accordance with note 1 to the Accounting Policies YE 31 December 2020 sub para a ‘Accounting Convention’) and the Statement of Recommended Practice 2015. The accounts have been prepared under the provisions of FRS 102. 9. The Royal Naval Association was incorporated by Royal Charter granted by Her Majesty The Queen on the advice of Her Privy Council on 15[th] July 1954. A Supplemental Charter was granted on 26[th] May 1990, which is the Charter now in force and forms the basis of the current Rules and Bye-Laws and is our primary governance document. There was a minor revision of the Charter and more significant revision of the Rules and Bye-Laws during 2014. The Charter and Rules are subject to minor amendments annually depending on Conference motions. While the Association enjoyed the patronage of Her late Majesty, it is yet to be confirmed by _The original Charter hangs in Central Office in HMNB Portsmouth_ RNA Annual Trustees Report for 2023 Page | 4 Buckingham Palace who will take on the patronage. 10. The Trustees comprise the National President, Deputy National President, National Vice Presidents which includes the Warrant Officer to the Royal Navy (WORN), in addition a serving Warrant Officer, National Honorary Treasurer and elected members of the National Council. Each elected member of the National Council represents a loosely defined geographical area and is elected for a period of two years by a simple majority based on a postal poll of Branches within the area represented. These are counted and reported on by members of the Standing Orders Committee at each Annual Conference. The National President, Deputy National President, National Vice Presidents, National Honorary Legal Adviser and National Honorary Treasurer (when not an elected NCM) are appointed by the National Council, as are the two RN Warrant Officers. The National Council of the Association delegates routine work to three sub-committees – the Finance and Administration Committee (FAC) **,** Association Management Committee (AMC) and the Governance Committee. In 2022, it also established a Diversity and Inclusion Advisory Group (DIAG). 11. Newly appointed Trustees are provided with information regarding their legal duties and responsibilities, as well as key documents published by the Charity Commission. As soon as practicably possible, Trustees training is also conducted. The General Secretary also arranges Trustees Continuation Training. 12. Details of the Association’s officials are included on the Association website (here) which allows members of the public and Association members to know easily who represents them and manages the affairs of the Charity. After 7 years of outstanding service, S/M Keith Ridley (NCM 6) stood down as National Chairman and S/M Peter Godwin (NCM 8) was elected to succeed him. The RNA enjoys membership of: COBSEO; International Maritime Confederation and the Conference of Naval Associations. The RNA signed a formal Memorandum of Understanding with the Royal Navy in 2023. There is a strong network of naval charities who are in regular communication. These include, but are not limited to: RNRMC, Greenwich Hospital, RNBT, the Naval Families Federation and the Royal Marines Association. The General Secretary acts as a managing member of the Irish ex-Services Trust disbursement committee. 13. **Central Office.** RNA Central Office is located in Scott Road and the building is shared with the Association of Wrens. The Board of Trustees would like to take this opportunity to thank the Second Sea Lord and Naval Base Commander (Portsmouth) for their continued support of the RNA in providing premises within the Naval Base for use as RNA Central Office. ## 14. **Objectives of the Royal Naval Association.** The Objects are: _RNA Central Office, HMNB Portsmouth_ (1). To further the efficiency and well-being of the Service, preserve its traditions and encourage recruiting. (2). To foster comradeship and "esprit de corps" among those who have served or are serving in Her Majesty’s Naval Forces. (3). To provide facilities for bringing Members together. (4). To perpetuate the memory of those members of Our Naval Forces who have died in the service of their Country. RNA Annual Trustees Report for 2023 Page | 5 (5). To provide relief from conditions of need, hardship or distress to persons who have served or are serving in Our Naval Forces and their dependants. (6). To advise members and other persons who have served in Our Naval Forces and their dependants on subjects affecting their welfare, referring on to appropriate agencies where specialist advice is required. (7). To advise and assist Members and other persons who have served in Our Naval Forces in their search for employment. (8). To pursue any or all of objects (2), (4), (5), (6) and (7) above for the benefit of members or former members of the Naval Forces or former members of the Commonwealth at a time when those Naval Forces were part of Our Naval Forces, and either or both objects (5) and (6) above for the benefit of the dependents of such persons. 15. **Public Benefit.** The Trustees confirm that they have taken due regard of the guidance contained in the Charity Commissions guidance on public benefit, set in ‘Charities and the Public Benefit – Section G’, when reviewing the Charity’s aims and objectives; and in planning future activities and setting the budget for the year. The Trustees note the ongoing exceptional public benefit provided by Project Semaphore iPads, the LIBOR minibuses and through the Seven Cs Comradeship model. Also, there exists a host of academic evidence that being part of an Association like the RNA creates social benefits which contribute extensively to improved mental health resilience and by contributing to the fight against loneliness the Association does much to lend itself to social prescribing. ## **FINANCE** 16. **Funding Model.** At the end of 2020, a Special National Meeting was convened to set subscriptions to zero and switch to a donation funding model. The Trustees are most thankful to the Royal Navy Royal Marines Charity who have underwritten this move with a substantial grant. This has allowed considerable growth of the organisation which has now nearly doubled in numbers in the 3 years since. We are now reaching more of the wider naval family. 17. **Risk and Reserves Policy.** With the shift in funding model, the Trustees recognise that there is considered to be more financial risk however with the loss of approximately 1000 members per year for over 30 years, the risk in maintaining the same model was obvious – membership numbers in 2020 had dwindled below 10k for the first time. The Trustees have concluded that the risk set against the Reserves policy remains satisfactory for the uses of the Association. The Association’s Reserves Policy is reviewed annually and aims at holding sufficient Unrestricted and Undesignated Funds to provide funding for the following: - a. To provide financial resilience if donations do not keep pace with the rising costs of providing services to members. - b. To generate income to subsidise current activities. - c. To provide future income. - d. A reserve in case of a major business continuity issue. RNA Annual Trustees Report for 2023 Page | 6 - e. A contingency for wind up costs to cover legal requirements for redundancy payments; incomplete periods of contracts etc, which the Trustees will be legally obliged to meet. - f. A contingency for other unexpected events. - g. Future projects not yet mature in development. - h. To provide the opportunity to purchase a freehold or leasehold property as the Central Office, since the lease for the present premises in HM Naval Base, Portsmouth is unsecured. 18. **Review of Reserves.** The Trustees have reviewed the level of reserves against their policy and, despite the additional risk of moving to a donation-based income model, have agreed that they remain at a satisfactory level. The level of investment income deriving from the Association’s Reserves is an important factor in deciding whether or not to expand or reduce them since investment income contributes significantly to meeting operating costs. The Trustees have also reviewed the policy of maintaining the designated Property Fund and have considered that this is still a valid necessity in order to secure funds needed to acquire property in the event of changes to our current arrangement. 19. **Offices** . Our lease for the offices within the Naval Base has been renewed and there is little sign that we are likely to be asked to move. Notwithstanding, the Trustees conclude that it remains prudent _Open Day in full swing at Central Office – note the GS’s legs are whiter than his RNA Tropical Rig white shorts!_ to make provision in the reserves to cover the potential costs of providing office space. The property fund stood unchanged at £491,375 at the end of FY2021. The Trustees have reviewed Portsmouth commercial rents, and the trustees consider this remains an adequate figure to provide office accommodation. The requirement to maintain funds in case of a major Business continuity problem remains valid, as does provision against wind-up costs and unexpected events. 20. **Investments** . After the political turmoil in 2022 which took a toll on our investments, the performance in 2023 has improved with better than budgeted results. That said, the investment brokers which we are using – Sarasin – have not done as well as might have been expected so they remain under scrutiny by the Investment Committee. 21. **Legacies** . Unless we have had prior knowledge of a legacy coming in, we do not bank on legacy income when budgeting. 2023 was, however, an exceptional year for legacies with income of £234k. RNA Annual Trustees Report for 2023 Page | 7 22. **Restricted Funds** . The reserves figure is inflated by grant money held for various projects and which are held in Restricted Funds. The generation of income through investment of the reserves is an essential part of the RNA business model as donations alone do not cover expenditure. This policy has not changed with the shift to the donation-based income model. 23. **Standards Fund** . This is a fund where the Association self-insures Branch Standards with Branches paying an annual premium. It provides for the cost of repair and in cases of loss or damage beyond repair, the cost of a new Standard. ## **FINANCIAL REVIEW** 24. The Trustees make the following observations: **Overall. The Trustees report an overall increase in funds of £84,386 – an increase in the value of the organisation of 5.4%. This was due in the main to a generous legacy bequeathed to the Association. The Trustees are content with the financial position of the Association.** **The Board of Trustees are thankful to the RNRMC for taking on the role of Management Accountants during 2023. Brooms retain the audit function. The 2024 budget process included all Funds** **The Trustees are cognisant of the additional risk the switch to a donation based income model presents and are thankful for the support of the RNRMC to allow us to achieve this. Nevertheless, the Trustees are thankful for the level of strategic reserve which gives confidence to allow the safe transition and grow the Association.** a. **Donations in lieu of Subs** . £72,901 was raised in donations, including a very generous donation from the Plymouth Branch to the Central Charities Fund for £10k. This was up from last year’s £61,708. The RNRMC has underwritten the move to withdraw annual subscriptions and kindly donated £147,000 towards operating costs. This grant is also tied to the 7 Cs initiative. b. **RNA Lottery** . To help with fundraising, the RNA introduced a lottery in 2023 launching it at the Annual Conference. After set up costs, it raised £4161 to 31 Dec 23. c. **Legacies** . It was a good year for legacies with £234k income received. The Trustees are thankful for these donations and recognise they are an important element of our funding. We do not however anticipate legacies, so they are not included in the budget unless we have had prior indication with some certainty that they are forthcoming. Recognising the value of these legacies, the RNA has joined services with a major will writing organisation to introduce a free will writing service where, it is hoped, that more shipmates will leave a little something to the RNA in their will. d. **Operating Costs** . The operating costs of the charity increased in 2023. This year they were £565,828, up from £402,183 in 2022. This includes a charge of £72,959 for the services provided by RNRMC which is effectively a contra entry as these services were donated. The true figure therefore for operating costs is £492,869. e. **BCSF** . The Trustees continue to be delighted with the success of the Branch and Club Support Fund minor grants scheme introduced in 2018. The scheme allows the CEO to approve grants of up to £250 with minimal bureaucracy. Applications this year have included Branch annual RNA Annual Trustees Report for 2023 Page | 8 Zoom fees. ## f. **Gift Aid** . £3,816 for 2023. g. **Investments** . Investment income is reported under FRS102. Investments remain held in a Custodian arrangement with the RNRMC. The market value of investments at Year End was £1,395,324 which is down from £1,416,454 . This included a drawdown of £50k for cash flow purposes. The investment income for the Full Year was £33,412. Our National Treasurer, S/m Ian Irvin represents the RNA on the RNRMC’s investment Committee. h. **2024 Budget** . With RNRMC now acting as our Account Managers, we have extended the 2024 budget to include all Funds rather than just the General Fund. This means that we will have a better handle on our Cash Flow throughout the year as the budget will encompass the entirety of our business. i. **The Naval Service Memorial Fund** . Expenditure on the fund was £1417 leaving £8511. The fund stands at a sustainable level with 10 years worth of insurance and maintenance in hand. **j. Minibus Fund** . The Minibus Fund was established in 2017 with a sizeable grant from the Libor Fund. It is now down to £2,666 and running costs for the 3 x minibuses sit at approx £7.5k/year. A number of bids have been raised to support the continuation of the minibuses as they are all still in very good condition. - **k. Standards Fund.** The standards fund remains at £10,000 ## **Annual Accounts** 25. The main element of the Accounts for the year ended 31 December 2023 is the Statement of Financial Activities for the year, which is an annex to this report. 26. It is important that the Statement of Financial Activities and Balance Sheet are read in conjunction with the Notes, which appear in the Accounts. The market value of Investments is as stated in Notes to the Financial Statements. 27. The Trustees remain indebted to the auditors Brooms for their continued support and guidance and to the Finance Team in the Royal Navy Royal Marines Charity who do the bookkeeping and management accounts. ## **Risk Management** 28. Risks are assessed by the Trustees, with the Risk Management Policy reviewed annually and the Risk Register reviewed more regularly. Financial risk is assessed in the 10-year forecast. The most significant financial risks are: the switch to a donation based income model will not realise the funds required to operate the Association, movements in financial markets affecting investments and the MoD unexpectedly terminating the lease on HMNB Portsmouth offices. 29. The main strategic risk is to membership numbers. The strategy of switching to a donation based income model and the development of Special Interest Groups where members are encouraged to form groups to feed their interests and hobbies, demonstrate relevance to a younger cohort and serving personnel and are already proving attractive – the Association has nearly doubled in membership RNA Annual Trustees Report for 2023 Page | 9 numbers in the last three years. Marketing and communications are tuned to this goal. 30. The Trustees are also very alive to the risk of reputational damage to the Association and have established a Diversity and Inclusion Advisory Group (DIAG). 31. The most serious operational risk is slip, trip and medical emergencies during RNA events. The Charity mitigates this risk by training all the Central Office (HQ) staff as Red Cross qualified workplace first aiders and the acquisition of an Automated External Defibrillator. There is also the Reputational Risk associated with branches failing to meet their governance responsibilities. which is now receiving a great deal of focus as part of an ongoing Governance Review. 32. **Branch Governance** . It came to light during the year that some Branches of the Association are not following the Association Rules and Byelaws as laid down in the Royal Charter and, having taken advice from the Charity Commission, one Branch is subject to further confidential investigation. This has necessitated hoisting governance up the priority list, and it is now a standing item on the agenda of the Trustees Board Meeting. The risk of reputational damage to the Association is significant so it has been necessary to employ a Governance Support Officer both to police and support this business area. 33. **Insurance** . Risks to the Association and to the RNA’s support of its Trustees are mitigated by adequate insurance, which has provided a significant protection to RNA funds in previous years. Insurance has been expanded to include the activities of the mentoring at HMS RALEIGH and also includes liability insurance for the National Standard Bearer when on RNA duties. The Association is GDPR compliant and has invested in strong security of members’ data held in the new database server. Nevertheless, insurance also exists for data breaches including hacking and theft. ## **STRATEGY** 34. **Mission.** Our mission is to **foster comradeship within our membership.** 35. **Strategy** . 2023 represented Year 3 of our 5 Year Plan depicted here. While this plan has driven budgeting, all effort aligns to our Objects in Paragraph 14 above, pointing in one direction towards a realised RNA vision. RNA Annual Trustees Report for 2023 Page | 10 36. As reported in our Annual Report last year, we have developed the concept of the **Seven Components of Comradeship – the Seven Cs** - and we are working with partners like the RNRMC, Greenwich Hospital, the Naval Families Federation and the naval benevolence charities to take forward the components of this initiative. As we move forward, the Seven Components of Comradeship will become our measurable deliverables of output and our reporting will be geared around this. ## **ACTIVITY REPORT** 37. **Annual Conference.** This year the Conference was held in Liverpool to coincide with the 80[th] anniversary celebrations and commemorations for the turning of the tide in the Battle of the Atlantic. There were a full range of events including the dedication of the Battle of the Atlantic Memorial Garden by HRH The Princess Royal who also took time to meet some of our WWII veterans in the Memorial Thanksgiving Service held in the Church of Our Lady and St Nicholas. 38. During Conference, the Lord Mayor of Liverpool, Councillor Mary Rasmussen, admitted the Association to Liverpool City Council’s Freedom Roll of Associations and Institutions in recognition of the RNA’s outstanding contribution to the community. _HRH The Princess Royal shares a moment with RNA Vice President, Claire Robson at the Battle of the Atlantic 80 commemorations in Liverpool._ Conference was privileged to hear from: - The Lord Mayor of the City of Liverpool, Councillor Mary Rasmussen, and the Mayor of Liverpool, Joanne Anderson. RNA Annual Trustees Report for 2023 Page | 11 - The First Sea Lord, Admiral Sir Ben Key KCB CBE ADC briefed on the current opportunities and challenges facing the Royal Navy And, complementary to the BOA80 theme: - Dr Jann Witt of the Deutscher-Marine Bund (DMB,) which is the RNA’s German equivalent, briefed on German maritime strategy for WWII. - Vice Admiral Mike Gretton CB CVO presented on the success of Convoy ONS-5 which is generally accepted to be the turning point in the Battle of the Atlantic. His father, Peter Gretton, commanded the Convoy Escort Group for that convoy. 39. **Biennial Parade of Naval Associations.** The RNA led with the planning and execution of the Naval Associations Biennial Parade at the Cenotaph on 10 September. The event was enjoyed by some 400 participants on Parade at the Cenotaph. The complete naval family was represented with serving squads from both Sultan and Collingwood, RNR from HMS President, Sea Cadets and of course the RNA and many other associations represented. We were also joined by the RNA’s sister association in Belgium who sent representatives to take part. All in all, with Second Sea Lord, Vice Admiral Martin Connell, taking the salute in a sunny _The Naval Associations' Biennial Parade - Whitehall_ Whitehall, it was a great occasion. ## 40. **HMS RALEIGH Mentoring.** After a period of adjustment post Covid the mentor programme **,** has been re-established on a firm footing in RALEIGH. All mentors will now be DBS checked and receive the same E&D training the staff enjoy. The mentoring was one of five examples of “Best Practice” in a recent OFSTED type inspection at HMS RALEIGH. _“The divisional staff do an amazing job of turning recruits into sailors. But it is just that, their job. They are proud professionals and the gatekeepers to the Navy. But who is there to balance that? Who is there to say “Don’t worry, this is normal, trust the process”? Well simply, you were there. Thank you so much. Thank you from the recruits and thank you from the families.”_ **Quote from parent of an HMS RALEIGH trainee – Dec 23** 41. **Open Days.** Central Office arranged a number of Open Days in 2023 which were much enjoyed by Shipmates. The Open Day features a sandwich lunch, RNA activity brief and boat trip of Portsmouth dockyard. Branches from all over the UK have previously enjoyed this event. RNA Annual Trustees Report for 2023 Page | 12 42. **Culture and Values Sessions** . The initiative continues with Phase 2 trainees from COLLINGWOOD and SULTAN. Andy Christie has kindly offered to continue this service _pro bono_ after his retirement. 43. **World Uckers Championships 2023** . As endorsed by the First Sea Lord, the RNA is the World Governing Body for Uckers and the Association was proud to host the 2023 Uckers World Championships in the Royal Maritime Hotel on Saturday, 14 October. The popularity of this event means that it will now take place on an annual basis. 44. **Special Interest Groups.** A successful bid to the Afghan Fund of the Covenant Trust Fund in the autumn of 2023 _The RNA hosted World Uckers Champs 2023 – never underestimate the intensity of this blood sport!_ resulted in the employment of a former RN PTI, Chris “Scouse” Reeves, with the aim of attracting a younger cohort of working age veterans to the Association. This has also added momentum to the SIGs some of which are doing particularly well, for example, the Caravaning and Camping Group now has over 500 members. The list of current SIGs is at Annex C. 45. **CONA Conference.** This was successfully conducted in Feb 2023 with participation from many associations. The RNA retained the Chair. 46. **LIBOR Minibuses** . Well used and still in very good condition. Funding bids are pending. RNA Annual Trustees Report for 2023 Page | 13 ## 47. **Communications** . The following comms outputs have been achieved in 2023: ## a. Hard Copy **Yearbook.** The Central Database has allowed us the ability to post a copy of the Yearbook to all members’ households. Although a costly evolution, it is the only occasion that something physical is despatched to the entire membership so is considered a worthwhile exercise. It also gave the opportunity to remind those who might not have already set up a Standing Order to donate to the Association. ## b. Soft Copy: **Semaphore Circular.** This is the monthly newsletter of the Association which is published on the first Friday of the month. **Semaphore Short.** The Semaphore Short is a weekly publication sent out on the third and successive Fridays in the month. As with the Semaphore Circular, it now goes out to all the membership who have an email address on the Central Database. **Branch Committee News.** The 2[nd] Friday of the month is communications for Branch Committees and is addressed to both the Branch Secretary and, as backup, the Branch Chairman. ## c. Virtual Gatherings: **Fireside Chats.** These continue on every Monday evening at 1830 (stand fast Bank Holidays and Christmas leave period) with a range of both internal and external speakers on naval matters historical, current and charitable. The list of Fireside chat speakers for 2023 is at the Annex. They are all recorded and available on the RNA community Facebook site. To avoid confusion, we use the same Zoom link each week: = https://us02web.zoom.us/j/2888305105?pwd TmtwempUWGwwUEtOcjY4ZU15RU5FZz09 by the Wrexham Branch continues. Details on the Community page. **QR Codes.** We started using QR codes to lead us to our “Join Us” page in 2021 and the original QR code has now been updated to lead you to a menu of choices including offers like tickets. ## 48. **Operations and Membership** The Central Office database still works well although with the increase in numbers, we have started work on a more powerful successor. RNA Annual Trustees Report for 2023 Page | 14 With the third year of a donation-based income model now achieved we can see that it has done wonders for our membership numbers – at the end of the year we were nearing 19,000 members, up nearly double our figures of 3 years ago. **----- Start of picture text -----**
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## 2023 Membership Matrix |2023 Membership Matrix|2023 Membership Matrix|2023 Membership Matrix|2023 Membership Matrix|2023 Membership Matrix|2023 Membership Matrix|2023 Membership Matrix| |---|---|---|---|---|---|---| |Area|Life|Full|Assoc|Year 2023|Year 2022|Year 2021| |1|11|85|346|442|371|274| |2|39|361|283|683|667|626| |3|57|934|765|1756|1563|1283| |4|80|972|387|1439|1374|1208| |5|38|404|505|947|958|868| |6|22|283|423|728|681|577| |7|27|363|325|715|645|605| |8|49|468|727|1244|1217|981| |9|33|302|582|917|834|680| |10|54|620|763|1437|1277|1103| |11|45|430|830|1305|943|623| |12|18|175|221|414|407|362| |Scotland|24|482|108|614|577|495| |Overseas|9|245|367|621|519|298| |HQ|83|4743|1,051|5877|4136|2758| |TOTALS|589|10,867|7,683|19,139|16,169|12,741| RNA Annual Trustees Report for 2023 Page | 15 49. We are keen to attract working age veterans into the Association to give the organisation a younger feel and to give it some longevity. The data below is encouraging in that it shows that the majority of new joiners in the 50-70 age range are Full members and the numbers of Serving members who have joined the Association are also increasing. We can clearly see the effect of recruiting the new entrants at HMS RALEIGH and BRNC but the challenge going forward will be to retain them. **----- Start of picture text -----**
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## **WELFARE/WELLBEING** 50. **Strategy/Funding.** The Welfare/Wellbeing component of Comradeship really came to the fore during COVID when it was realised just how important this was. The Trustees therefore take the opportunity to thank RNRMC for their continued support in granting the Association continued funding for the provision of a Wellbeing Delivery Programme in 2023. The Board of Trustees are cognisant of safeguarding legislation and are seeking to ensure that the Association operates within the bounds of safeguarding best practice while not losing sight of our desire to support close friends and shipmates. **Project Semaphore** . Funding for the Project is now exhausted and the Fund is closed but rather than bringing the Project to a complete halt there will be a natural wind down as there will be an element of recycling of hardware which should keep us going for a few years. We will reach obsolescence at some stage. In 2023, this was subsumed into the Wellbeing Delivery Programme. **Wellbeing Workshop** . Significant energies were invested in the planning, preparation, and engagement of welfare officers for the Wellbeing Workshop which took place in Feb 23. There was an excellent response and 95 delegates attended. **DBS** . We are now registered with the UK DBS Umbrella Service and the Raleigh Mentors were the first tranche to be DBS checked. ## **ENGAGEMENT** 51. **Partnering.** There has been lots of change in the leadership of close partners within the naval charity sector with RNRMC, Greenwich Hospital, the Royal Marines Charity/RMA and the White Ensign RNA Annual Trustees Report for 2023 Page | 16 Association all appointing new Chief Execs in 2023, while the WRNS Benevolent Trust voted at their AGM to come under the management of RNRMC. 2024 will also see new Chief Execs in the RNBT and Aggies changing over. Despite this, the Association continues to have a close working relationship within the sector. The Association has collaborated with the following partners **during 2023:** - **RNRMC** for funding, admin support, and shared communications. RNRMC’s key support is - fundamental to the success of this programme. • **RNBT** for beneficiaries Wellbeing Support and advice - our "one up" when wellbeing becomes a welfare need. • **Fighting With Pride** for support with D&I improvement and tackling loneliness within the LGBT community. We have signed up as a Pride in Veterans Standard (PIVS) member, and updated our D&I policy. - **RNRM Widows Association** for a close partnership in bereavement support. - **NFF** to reach the wider naval family. - **Aggies** to better link pastoral support with wellbeing. • **CONA** . As President to reach and influence up to 100 individual large and small naval associations (including Submariners, the AoW, RNR, MNA, and RMA), providing overall coordination, advocacy, and leadership where applicable. Our next CONA Conference is on 28 March 2025. • **Cobseo, OVA, SSAFA, TRBL, VOS, ASDIC, Veterans UK, Single Capbadge Association Network (SCAN), Portsmouth/Liverpool City Council** and others regarding AFC, Freedom of the City and a wide range of advocacy issues. NB: On many higher level occasions, the RNA are the only naval representative, speaking on behalf of members. 52. **Corporate Sponsors.** The Trustees are also extremely grateful to all our corporate sponsors. 53. **Chairman’s Message.** The Council continue to be supported by a growing professional crew in Central Office; without their dedication and determination to deliver the best for our Association, we would not be the centre point for Royal Navy veterans around the world. We recognised the outstanding work of our Membership Secretary, Sara Field. The Council awarded Sara a Certificate of Appreciation for going above and beyond in her service to the Association. Also, our partnership with RNRMC in particular, has seen our Association expand further this year in so many ways. We thank them for all their support. The Council recognise that we need to modernise our governance and professionalise our delivery of welfare and wellbeing to our veteran community. Furthermore, we continue to develop our Diversity strategy so that the RNA is a place for all who have served in the Royal Navy. These transitions are essential to modernise our Association, to meet the needs of our members and to reach out to the ‘lost and lonely’ veterans, wherever they may be. In particular, to provide a safe harbour for those shipwrecked in the storms and turbulence of life. RNA Annual Trustees Report for 2023 Page | 17 I was honoured to be elected as National Chair in 2023 and recognise I have large shoes to fill. I thank my predecessor Shipmate Keith Ridley for his outstanding service to the Association and the Council honoured Keith making him a Vice President. The RNA has achieved a lot in the last twelve months but there is still much to do. There is a wealth of experience and leadership in the National Council, with the contribution of our advisors, Central Office crew and our partners, we will rise to meet the challenge of providing a safe and hospitable haven for all who are serving and who have served. ## **Peter Godwin National Chairman** ## Annexes: - A. Life memberships awarded in 2023 - B. List of Fireside Chats conducted in 2023 - C. Current list of SIGs with lead contact details RNA Annual Trustees Report for 2023 Page | 18 Annex A ## **Life Memberships awarded to Shipmates in 2023** Deborah Beeson – Plymouth Andy Christie – Lee-on-the-Solent Ronald Howell – Dartmouth Donald Jones – Wrexham Anne Macleod-Carey - Purley Desmond McCarthy MBE – Plymouth Gordon Mustard – Woking Kevin Norman – Paddock Wood Michael Noonan – Portsea & Portsmouth David Richards - Caerphilly Dennis Taylor – Ramsgate Ken Tinkler - Birmingham Brian Toney – Falmouth Gordon White - Rhondda Brian Witham – Eastbourne ## **The following were also awarded Honorary Life Memberships in 2023 to mark their service in WWII** Vera Brett – HQ Roll (WWII veteran) Robert Dack – HQ Roll (WWII veteran) RNA Annual Trustees Report for 2023 Page | 19 ## Annex B ## **Fireside Chats Programme 2023** |02-Jan||NY Public Holiday|| |---|---|---|---| |09-Jan||RAdm Steve Moorhouse|Director Force Generation, Royal Navy| |16-Jan||Richard Cutler|International Search and Rescue| |23-Jan||Gordon Jones/David Clough|RN E Gaming Association| |30-Jan||Prof Matt Kiernan|Veterans Food Poverty Survey| |06-Feb||Capt Mark Hardwick|RN Logistics Training in 2022| |13-Feb||Mike Milne|Battle of the Atlantic| |20-Feb||Capt Katharine Armstrong RN|Head of Naval Intelligence Branch| |27-Feb||Stuart Wright|White Ensign Association| |06-Mar||WO1 Jim Wright RM|WORN - Naval Update| |13-Mar||Kevin Casey|Diving Museum No2 Battery Stokes Bay| |20-Mar||Cdr Tom Sharpe|HMS ENDURANCE near loss| |27-Mar||Micheal Edwards|SAIL - Seafarers Advice Information Line| |03-Apr||Malcolm Farrow|The Union Jack| |10-Apr||Easter Monday|| |17-Apr||Cdr Bryan McCavour|RN Battlestaff Update| |24-Apr||Dr Mark Barton|Duelling in the Royal Navy| |01-May||May Day BH|| |08-May||Coronation BH|| ||1900,||| |09-May|Tues|Steve Dingley|Pusser's Rum to propose Toast to His Majesty, King Charles III| |15-May||David Lewin|The History of Waterproof Clothing| |22-May||Mike Milne|Western Approaches Tactical Unit| |29-May||Spring BH|| |05-Jun||Mark Calhoun|US National WW2 Museum| |12-Jun||Hugo Mitchell-Heggs|HMS Audacious - RN Ocean Rowing Team| |19-Jun||VAdm Mike Gretton|The Tonnage War - Convoy ONS-5| |26-Jun||Richard Jones|The sinking of the SS Lulworth Hill| |03-Jul||Mike Ellis|The Baltic Cauldron| |10-Jul||Sandra Peaston|CIFAS (Credit Industry Fraud Advisory Service)| |17-Jul||Cdr Brian Boxhall-Hunt|Royal Alfred Seafarers Society| |24-Jul||Dr Jann Witt|WWII German strategy for defeating the RN| |31-Jul||Hannah Prowse|Portsmouth Historic Dickyard - Future Plans| |07-Aug||Summer Leave|| |14-Aug||Summer Leave|| |21-Aug||Malcolm Farrow|Colours of the Fleet| |28-Aug||Summer BH|| |04-Sep||Brian Finch|The SS Lisbon Maru story| |11-Sep||Susie Martin|Helicopters at sea| |18-Sep||Mark "Dicky" Barton|The history of the Engineer Branch| |25-Sep||Paul Godfrey|Operation Source - X-Craft v Tirpitz| |02-Oct||Malcolm Farrow|Britain beyond the Seas| RNA Annual Trustees Report for 2023 Page | 20 |09-Oct
16-Oct
23-Oct
30-Oct
06-Nov
13-Nov
20-Nov
27-Nov
04-Dec
11-Dec
18-Dec
25-Dec|Craig Jones/Caroline Paige
Fighting With Pride - Government Compensation Roll-out
Mark Johnson
Legal issues in an uncertain commercial maritime world
Angus Konstam
"The Convoy"
Tony Moth
The RNA Riders Branch
Capt John Foreman
Defence Attache in Russia when Putin invaded Ukraine
Prof Claire Jowitt/Julian
Barnwell
The Last Voyage of the Gloucester and Why it Matters
RAdm Iain Lower
Commonwealth War Graves Commission
Capt J-M Sullivan USN
USN Update
Mark "Dicky" Barton
Forgotten/lost naval dockyards and bases
Matron Dodds
The Confessions of a Health Professional - Part II
Christmas Leave
Christmas Leave| |---|---| RNA Annual Trustees Report for 2023 Page | 21 Annex C ## **List of Special Interest Groups/Branches with lead contact details** Riders Branch – Mark Gayton: secrnariders@gmail.com Camping and Caravanning – Ron Shilton: rna.camping.caravan.motorhome.club@gmail.com Classic Cars – Mike Burnham: hon.secretary@rnarayleigh.org Cricket – Mark Smith Markmiff1962@gmail.com Cycling – Craig Fulton: craig@govguide.co.uk Divers – Bill Lawless: billylawless40@yahoo.com Fishing – Selwyn Davies/John Stephenson: rna.fishing.sig@gmail.com Football – Chris “Scouse” Reeves: scc@rnassoc.org Golf – Colin Dinsdale: rna.golfers@gmail.com Model Makers – Gary Daisley: gddaisley@blueyonder.co.uk Rugby - Steve Phillips: stevephillips99_uk@yahoo.co.uk RNA Annual Trustees Report for 2023 Page | 22 THE ROYAL NAVAL ASSOCIATION Charity R¢gi$tration Number: 266982 STATEMENT OF ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2 BROOMS PROFESSIONAL SERVtCES LIMrrED CIL4RTERED CERTIFtED ACCOUNTANT REGISTERED A[1D￿ORs Contents Page Charity Reference and Adminlstratlve Details Trustees. Annual Report (separale document) Indopendent Examinerts Report Statement of Financial Actlvities Balance Sheet statement of Cash Flows Notes lo Financtal Statements 6-15 The Royal NavalAssoelatlon CharltyR•fer•nce andAdmlnlstratlve DetalLs fortheyearended3tst DKemb¢r2023 ch￿ity Regi5tra(ion number 266982 VAI]tn D L Potts CB- Natiollal Presid￿¢ Cdre M SlawsLM OBE RN- D¢puty National President Slm R Lock MBE- VicePresideDt Sltt) K R2'dley- Vice Presidelli and NCM 6 Arca WO l J Wright- Vice Pra%idenl- Warrant Officer lo theRoyal Navy WO I C Rob$m- Vice Ptesidettt- Sttviti8 Member SIM P Goodwitt-Naiiottal Chairman & NCM 8 Arca Slhq A Chtistie. Deputy National Chairnw) &NCM 3 ATra SIM M Foley- NCM l Area SIM W BeSfLtt- NCM 4 Area SIM P Chiv¢rs-NCM S ATeA SIM L Higgoll-YDull8-NCM 7 Area IS Wales & Gloucester) & Overse4s SIM S Sinbnon$. NCM 10 AFeA SIM R H&stie- Murtey. NCM I l Area SIM P StephellsoD. NCM 12 Area (Irelandl SIM S Elliot- NCM Scottish Area SIM l trvin. Nutional Trea5UT¢r Chief oxecutiv¢ offictt {Gtheral S￿) pÉ Bill OliphatttRN tnd4)elldent examiller BtoorL8 PTofes510nal S¢rvices Limited Broom HOUK 39143 LondoD Road H&dleigty B¢nfie E55¢x SS7 2QL Solicitor Messrs BlakeMorEart LLP Harbour Court, Compass Road Royal BoJJk of Scotland Holts Branch 31-35 Victoria Road Farnborough Th¢Roy41 Nary 8JJd Rcyal Marinecknity Independent Examlners, Report tothe Trustees ofThe Royal NavatAssoclatlon forlhe year ended 31st December2023 l report to th¢ ¢harity truste¢B Oll lljy ¢Xatt)iDAtion ofthe Hccounts orth¢ ¢JJarity for the year end￿ 31si De¢ember2023. Re8potsglbl]Id¢$ •Dd bo91s of repfyrt As th¢ clwitys tswstees. Y￿ Are re8[X￿sIble for the prepaTAtion of the A¢¢ixmts in accordanc¢ with therequiremejts of th¢ ChNriti¢s A¢t 2011 Cthe ACVI. I report in r¢speet of my examiD8ti0n of the charitys accounts ¢Ani¢d out under Section 145 of the A¢¢ alld in canying out my ¢xaminatkon I hav¢ followed 811 th¢ appli¢abk Direrti(6)$ 8iV¢ll by the Charity Commission uoder section 145(S)Ib) of the Aet. 1ndep¢lld￿t exAmlAer'8 5tst¢Awit The Charitys ￿ inGorn¢ eX￿ed £250,000 8nd l am qualified to und¢rthk¢ the ¢xamtllalion byiEing a qualifid member of the A$80¢iation of Chart¥¢d AccoutLtantS. I b8v¢ completrd my expmittation. I ¢onfirni thatnomaterial rntters have ¢omets my att¢ntion in conne¢tionwith the ¢xamioation 8iving mc to believe that in anymat¢riaJ w¢e¢'. l. acco￿lIng rttords wer¢ not kepl ill resp¢¢4 of the charity as required by 5¢¢tith5 130 of th¢ A¢¢ 2. th¢¥cwunts do not accord with thos¢ records" or 3. th¢ ac¢outtts do not comply with the èppli¢abk r¢qvirem¢nts concerning the fornl anOcoll*ll¢ of ACeO¥Qts set wt iaj th¢ Charili¢s (A¢￿￿15 and Reports) R¢8ulatiomLY 2008 Otherth￿ any requirEm¢u¢ thatth¢ o¢¢ouotS 8ive a ￿￿Ond favK wi¢wwhich is a ma CoL8Ld¢r￿Os part of aD independeirt ¢xArniDatiOn. I hav¢ no c￿ernS and have ¢(ffj)¢ a¢ross tso otherJDatters ID contlection with the ex8Min￿on to wbicb attention should be dTAVm iAthis re￿rt in orderto ¢nabl¢ a proper understanthgof the a¢cowits w b¢ re•¢bed. Sigll SolliA S]Mh FCCA ACA CTA Brooms Profes5ffio#al SerilceB IAd 39143 I￿lldO￿ Road Hadieigh Benfieet Essex SS7 2QL 311- 4 e4 t4 V r4 JI- I 3 continu The RoyalNavalAssorlatl<¥n Balan¢eSheei as at31stDecember2023 2023 2022 Flxed issets Intsnglble 86sets Tangible assets 10,8(K) 7.738 18,538 12 2,7J7 InVeSt￿e7ktS 13 lJ95224 1,4J6,454 Current 95sets Stock of gooth for ￿Sale Debtor8 B&l8nces with batJkers 8.769 91.978 296,350 JO,454 95,606 J65,048 14 Tolal¢rffTenl 0s3els 397,097 271.108 Credltsrs.. faUkn8 due withlD one year Creditors )5 162296 126,002 162296 J26.002 Nel currelltwsets 234.801 J45.106 ruli71ossets léss curnentliobilili 1648 663 1.564,277 Ullrestrkted fMnd5 Get￿al fill Life sUb￿ription bJDd Stsndarts fijttd 989.630 920,608 9,762 10.000 491.375 iO,ODO 491,375 Restrl¢ted fund5 Central ¢h8Tities fulld I￿0 good deots fund Brattchand Club support fuDd Navaj servieememrial fvDd Project setnaphort Helpiug bands fund 22.728 3,815 34,425 12,439 4.456 34.24J 9.928 3J,JSIO 3,333 7.452 8.304 9,337 537 6,178 4.325 852 5.078 8.227 2,666 M￿lbu$ fund Podcast fijtsd Wellbeujg salary fw Sparko ty fimd TEMS hmd RNRMC SIG Co.ordiDator 10,785 4,325 57,098 648 663 1.564.217 Thtse filw￿l•l statements were approved byth¢ Tnw¢¢5 ¢)n 20thMaTch2024 and sI￿d on theirbe]wJf by. Vice Admiral D Potts CB PreSid￿t I Jrvin FCCA HonoraryTTeasiiT The Royal Naval Asgoelatlon Statsmentof Cash Flow as at31st December 2023 Cuh now from fund a¢dvlty Net mov¢m¢nt in funds Reconciliation to caslL generated from operations: Depreeiation vestsnent income Net loss/(gain) (n¢t of ¢harges) in inv¢stm¢nts (Inm¢yDecreas¢ in Stock Gncrease)IDecrease in debtors Inerease/(Decrease) in creditors 84,386 (420,956) 1,050 (33.412) (28,870) 1,685 3,628 36294 039 (29.255) 220.483 2,547 (54,844.00) 18, 110 Net cAsh floY4 from fll￿d aetlvltles 64.761 Cash flow frvjn IDV¢$tlJg g¢tlvltleg Payments to a¢qu2re intangible f￿ed assets Payments io acquire tangible fixed assets Proceeds from disposal of fixed asset investments Acquisition of fixed asset investments Investment inwme r￿giV¢d (10,800) (6,071) 50,000 (2.008) 200.000 29,255 33.412 l¥et Cash flow from invesllng a¢tivlties 66.541 227,247 Ca$b flow from flnanesng aetivili¢$ Net IncreAse l (deerease) ID eAsh and t88h eqyiv*kDts 131,302 {42,029) Cash and ¢4sh eq￿1v￿1ellts at s*Art date 21123 165.048 207.077 Cash alld cash equlvalents at ettd dale 2023 296 Cash and equlvalents CODStsts of: Cash at bauk and in baud Sborttsrm deposits 296,350 J65.048 Cash alld cash equlvalents at end d#1¢ 2023 296 350 165.048 The Royal Naval Assoclatlo Notestothe Accounts for the year ended 31st December 2023 l. Aecoullting Pollcle5 A¢¢ountlng CoDven¢lon The fmancial statements have been pr¢pared under th¢ historical cost convention. m¢)dified for tbe r¢valuatioll of iDve51ments. They been prepared IT) a¢¢oTdat)ce with the Statement of Recoromended Practice- Accounting and Reporting by Cbarities preparing their 8c¢ounts in accordance with the Financial Rcporting Stsndard appli¢able in th¢ UK IFRS 102) issued in October 2019. applicable a¢counting Sta[￿ardS and the Charities Aci 2011. They have been prepared otj an 2ccruals basis of accountin& except fo the restricted funds, whi¢h have been prepared on a cash ac¢ountirnn8 basis. b. Intome Retognition tncome is recogoized in the period when thc Associatioll is entitled to re¢eipt and the amount Can b¢ M￿SUred with reasonable aecuracy. In accordance with this poli¢y.' Legacldv are included when the Royal Naval Association is advised that a payment will be rnade and the allM)unt Involv￿ Gats be quantifjed. Grants arc included when the conditions forreceipt have been complied with. Gifv in knnd and tsngibl¢ into￿e are i￿luded at tost to the donor if known, or the value to tb¢ Royal Naval Association at the date of re¢¢ipL Th¢ accounting policy for subscription income is detailed below. c. Fund A¢coumtkng General funds art llnrestricted funds which are availabl¢ for the vse at the discretion of ihe tsvsteu iti furtherallce of th¢ Designated fiujds ar¢ comprised of unrestricted fwid5 that have be¢n set aside by the trustees forparticular pulposes. The aim Restri¢ted funds are fimds which ate to be used in accordaDCe with specific restri¢tion8 irnposed by donoTS or whtch have tnvesttD¢nt income aud gains are allo¢at¢d to thc appropriate fund. d. Donations Donations are tsk¢n as income upon ￿¢¢Ipt, and allocated to each relevant fI￿d &s advsse(L . Llfe MeD)bers' Sub5eriptions Life subscription5 caIinot be purchased by individuals, but only byBranGhes and Are&8 in recognition of tiwitoriolls service. Life subscriptions re¢eived were brought into the Accounts a5 incorne by equal illstshnents over a period of ten years. But from 2023 Life subscriptions recieved are now brou8bt into the Accounts as illcome upon receipt. f. Glft Aided Subscription$ Incotne Tax is recoverable from HM Revenue & CustonK% iti respect of subS￿lpt1ons paid by gift aid, and is taken inlo account the year the subscriptions are received. The Royal NavalAssoclatlon NotestotheAccountslortheyearended 3tst December2023 l. A¢eouDIknB Pollths (contlDued) g. Jnvestm¢ats BHbk DepDsM Vtsttt￿Lts 8restated at markw v•lue as 81 the bala1￿e$heetda1ets1illgth¥tl0S1]18qU0¢al mRTketpiice. Realistyj gaiu$ 8tsd ksscs OD inve5bn¢nts ue cDtculated as the differeDce bBLweeD 5a]es pri¢¢¢d5 and thwrop¢nirt8 ¢wryDig valu¢4y theiTpurcb8se vahje if a¢quittyJ subsequetst to the fjrtday of the fitta¢ialye4t. ullrtb￿d aDd IossBSaTe c&lcukntui&sthe dkffetellce b¢tw¢eD Ib¢ vah]ellttheyear¢nd 2Dd tIL¢￿ ￿yill￿ Re81i5¢daud UDreabs¢dgain%8ttd kns8es at¢combin¢d in th¢ State])￿tOf FiD8n¢ial Actiwfjes. Dividetids atsd iti*resirtt¢ivabJe art illcludd ill tbc illcoll￿ expellditurea¢towrt wi￿1 t]Ky are tw¢ived at an arnountwhicb includeygnytax ¢t•Yitrrxov¢rnN¢ from HM Revthue & Custs*￿. Intrttst r(wavablc from fixedtthTh dewyits aTeac¢nwJ iti thewityj thatit isthj h. ￿￿end1*ure RccDgtiitioD Liabibties an T¢¢O8Di5ed as expcnditttre as sooll8S tbete is a Iwl orcon51￿ctive ob]igatiollwDmity8 th¢ cbarity tothllt ¢xFndilur4 it is pnthble th&t settlementwilt b¢ rquir¢4 artd th¢amountof tbeobb'8atiDll bB]]K&surd ￿￿&b]y. All ¢xttDditure is accounted foron an a¢cnwls basis. All ￿p￿Se% *tich￿l￿g supwtlX>5ts aDd8ov¢Tn￿¢09ls ar¢altwllte41 or wbtsD>J to theapplithle expaiture he&dinBS. '. AllocAtlon of Support GDverll•ntt Costs iovolving the pub]ic S￿0VAt￿bilIty0f the ¢barity and its comp]iaDrewith regujxtion aDd8[￿lP￿eti Th¢ 0nlyapporbollT[￿ttO governBllC¢ retweio 4dmiDiStrative sthrits etc.. BllDualconferew whichJTe j. Costof Rai5illE k Cost of Thlrltable Atdrfdes supwt Costs. L Tax Redalmed 4)n Glft Ald JLeott)et&x isrccovered fronj Hmkc ott iti¢ome￿knd 7W7 41345 516 9J13 1S9 9J43 142M7 407W2B 145,744 696259 Th Roy4lNavalAMocletlon NotestO1heAeeountsloriheye•i¢nd￿3ISlD•¢•fflb8W2o2j & A]io£Qtjollof8OVff￿IpÉ$lry0&ts￿PbrtQ0*i1 2023 2021 Olh Suppffi¢os TOMI Go}yr￿¢8 S#ppo ocured rehtsd COJ£f allocdted F¥ndEdfvnT AthnuIjmti￿ iikne5,nÈtiOnal ifftwratK¢ 4ndJ*ff PEnliDn Eeh¢me¢ontributionJ RNRMC*upportKé 29}64 29.564 23.537 21,537 72959 71.959 16.520 16.J20 7.009 14938 3577 3.$28 4062 61J 389 1.960 2.400 525 14.938 3,577 JS28 4.062 J.J73 J.802 2.098 Joi43 872 1.134 3,172 3.802 2.698 JO.14J 372 CouJpu*rsotttwor¢ Offi¢¢eqyipmeDt Offiwe4uipmEntiwitig 389 1,960 J.134 525 1,3JO 1.310 DepTec?atsonoffjxr0r¢s￿ finu knual￿fern¢¢ C8pwgtion ftes 746 746 039 2,319 639 2942 3.3J9 l J39 .539 145,744 49 95,90Q 72.010 48.245 23.765 io The Royal NavalAsso¢latlon NotestotheAc¢ount$forthe ye8rended 31st December2023 Gr￿ts A7varded 2023 2022 ntralChaririesFund.. Welfarc to Individuals 1000 GoodDeedsF¥nd.. Gtallts to illdividua]$ 641 J66 Branch undclub SupponFund.. Grants ty Braachts and ClubB 11,915 5,173 Irtsh TransportFund.. Grduts to ittdividuals 77 Total Grattts Awarded 13 5.33 10. Ithcomlng Resources after ¢h#rging: 2023 2022 Nei in¢omingreFourtes oresiotedafiercha￿Jn¥ in ihe GenerolFuml.. Broo]1￿ ProfessioLal Servic¢5 Ltd.. itid¢pcDdent¢X4Tnin8tion 2,400 1,000 taxation and consultsn¢y 16.320 D￿￿￿atioll of fixtur¢s alld fiiting8 1.050 639 li Thè Royal NavalAvJoclatlon Notes to the Accountslorlhe year ended 31st December 2023 ii. Intanglble fixed 458¢ts WebBIts Tothl CostlValuAtlon At 1st January 2023 Additions Di8posal8 At 31st Decunber 2023 10,800 10,800 10,800 10,800 Amortlsntlon At 1st January 2023 Charge for yegr Disposals At 318t Ikc¢mber2023 Net Book Value At 31st Deeember 21)23 10.800 10,8(K> Ai 31stDecember 2022 li TAnglble flxed 4ssets Flxtures and Total equipment Costlvaluatlon At 1st JAnuary 2023 15.493 15,493 Additioj 6,071 6.071 Disposals At 31stDe¢¢yJthr 2023 21.564 15,493 Deprecladon At 1st January 2023 12.776 11776 Charge for year 1,050 1.050 Disposals At 31st December 2023 13,826 13,826 Net Book Va]ue At 318¢ De¢ember 2023 7.738 7.738 Ai 31stDecember2022 2.717 2.717 12 The Royal NavalAssocl8tlon Notesto theAccount$for theyearended 31st DeCgmb•r2￿23 13. Illvestment5 Th¢ investtt)entportfolio has beenvalued atllWTk¢tvalue &8 at 31st Decem￿¥ 2023. Th¢ investsnents are categori8ed 8s follows: 2023 2022 M8rketValue Cost Morkel Value Cosi Listed inves1￿nts 1.395.324 1,429,589 1,4J6,454 1.48J,J05 1.395.324 1.429.589 1.416.454 1.481.J65 The invcslm¢rLt porthlio hi$ beert valued atrn￿ktt value as at 31st December 2023. Movements in fixed asset inv&8trllents 2023 2022 Mark¢t vallle biou8ht fonvard Additions at cost Dispo8a15 at Ca￿]￿g valu¢ Net gailllllossl on revaluation 1,416.454 709,196 1770,6801 40,354 1.836,632 706.352 1920,5581 1205.9721 Market valu¢ Carried forword 1.395,324 1,416,454 Attajysis of market value Orin￿$t￿ellts bytype.. 2023 Flxed Income Equltles Property Alternatlve Investments 212,428 964,263 60,545 147,038 11.052 150.715 971.677 62,804 175.406 55.852 LlquidAssets 1,395,324 1,416,454 Analysis of rn￿ket value of invcstrnetlts between th05¢ held wkthin and outside the United Kingdom.. 2023 Within the UK Outside the UK 458,558 936,766 390.559 1.025,896 1.395.324 1.416.454 13 The Roya( NavalAssoclatlon Notes to the Accountsforlhe yearended 31st December 2023 14. DelrtOTJ 2023 2022 Due from branches 11.874 35,113 44.991 12,257 28.242 55,107 Loans toolubs and branches S￿ndry debtors and prepayn*nts 91,978 95.006 15. Creditors 2023 2022 Trade creditors Due to branches Provisioll for capitatioll f Funds from decommwioned branches Swthy creditor4 accn]als alld defetted income 26527 2,023 1*92 75.660 56,194 26,089 2.698 1,951 65.943 29.321 162296 126.002 14 TheAoyal Na¥8lA8soclatton Nots5tothfrAG¢oyntsfvrthayoaweDded 31$1 Decomber2023 2022 S4lwic¥ Pe￿0￿ Costs ETnployer&'llational iJk8Ur￿ce 321,342 30,535 27.702 275,528 19,877 26,426 319.631 AV¢rd￿nU￿b¢r•t $tsff durn8 theye￿. Ernploy¢el emohun¢Ats beiow£60,0 Ernployte¥ emolumMts ¥bove£60,OOD E￿p10YeCI ernolumcntsppidthrijugh othttfvnd yonts 12 io No trustee0rp￿5On reknt¢dor C<>rd￿ttEébybuSi￿e$S to thcmh8srettiv￿ anyTEmunct#tithi frornthe A55ociatioL oorhav¢ th¢ye4teEÈd 1rttoattytt￿suthion, contr4ci oroth¢rarraDEethettt with the Assw￿￿ duYin8the year. ring th¢y¢at. eXp¢ll$￿ wer¢ r¢imbuTwJtoth¢Bo)rdofTnL8teemembetswbicb priD¢ipallyiwe5tni Tel￿Vr5¥d1[aVtII1ti& accomD￿damoll and sub&ist¢DCC ￿pEnSeS th attending me¢ting5 and ¢fficial att4nS¢rn￿ts, which ¥[* ty¢h￿ed in the'trav¢]iI￿8 ￿d]Ial$0￿. tsilional council Dnd oth¢rrownJittetiiJeetitV' COSEof£14.938. 16. Funds The GeDeThl FvDd and LifeSubsuirAioD Fur￿ aTcunr¢stsirteil fat 8enerolpwpcvA, DDdthis y￿( the life subscxipiioDS fvDd hasbeen tTrllSfe￿2d tD the 8¢tteAI fvnd. b. Th¢ sfattdèTdsFulld iswb¢ws¢dfor therepairor replacement ofdpm?rt I0sti)t 5to]Ellbts￿ch sthndDrds. o The Property Fund is dESi8oathd for the putpJse ofacquiriDgpropErty forusebythe C¢otralOffi¢¢. d. Tht Cetsttal CbaTiiiCS Fuud is V5a foT$pCcj￿charithblCprOiCcts whicb pTtyvidÈwith￿ckns¢r¥iU$•lld ex-naval per5OMtLtI atsd theiTdepeAdants. Th¢ 10(Y) Good Deeds Fulld i8 ￿ encourngefflote )bk sbiptsJa*s to tth less able shipmths outtoevtllts. £ Th¢BTrnch a￿a Club SupportFvnd wovj&s 45Si5LqnBe tDbt8n¢bc5 and thcir clubs. Th¢NavAI SthwiCtMemoriaJ Fulld (forU￿1]y￿0wn L% CharterChalienge2014 FuDd) 15 U5¢d foTth¢ fijntst tcDattccand iDyurance oftheTneTowitiI uected IETheNdiional Memuria] ATbot¢twts. b. TheProieciScrnaphoreFuDO i5 topiovidc iDformau(thiechDologytothc digilally isp12ted we￿805. TheHcJpuJgllunds Fund istoptovid¢ assist8U¢¢ to th¢ fina￿l￿ger1Plld voluntr¢Texpetts¢* This kndbas Dtsw been traDsfeTr¢dto theB?lleral futsd. j. IbeCoJDms Fund is wer0￿￿proVlded byCTmwi¢h Hospiwl Is L graDt to allow the utiwoyed coJllrn5 with IbeRNA throu8hemploJm¢rttofacomms profcssional in th¢ rcDtsaloffi¢¢ teanj. k Th¢TrishTAospM Futsd is w proside fillan¢ial 35515taRce foithcptoirysion oftr4nsport im the whoieof IrEla l. Tr MiuibusFuDd i& iobeused 10 supply oud IbttotsiLibu5e5 torniiisaie isdaioD illvete1a￿$. ThePookaStFund is topromo*aDd conts2but¢Ioth?w￿bÈi￿B0fshlpAW1cS tackleloneliDe58. Thi¥ futtd has tsowbeen transf￿[￿ to th2BetLual fithd. Th¢ Wellbeth8Fund LB tvyrovid¢fuDds foT#sthry alld debV¢ryforthcpmfes8ionB￿uIloD ofW￿rates￿pPortto Ibem¢mberthip. Sp￿kn TVFund isserrtyw$lyiKovSWbyRNRMC forRNAmemkn QKpeDses *swiit¢d wltb thesllpplyof thr SparkoProjEBt Jx IEMS (r[a￿ltiOnED￿0JmImc￿tQrITr8 Sthw¢l tllettt0ri0gsche￿fQrpusOnntI kavinglb¢ Roy￿NI*Y. q. RNBJIC SIG crr0rdintorFur￿ h85 b¢eD e5t8b1is1￿d wilh i genotous yantfro]ll the fuud wh￿hha5 beenrtceived from theCov¢DRiTTU31tbrDuth RNRMC. Itisainwd atnTr4kiDg theA539Liation morta¢ee5&ibk Attd 0￿rea#r*￿vet0wOr￿ltsg3BQ Vetsn￿gI￿È￿bYImpr0V)uBthe￿ wellbiA8atsdmeLLglhe41th resiliew Is The Royal NavalAssoclation Income and Expendlturek¢ountforthe yearended 31st December2023 2023 2022 Income Members Donations Received 72,￿1 72.959 153.485 233.639 8J50 61,708 RNRMC Serviees Donated RMiMC Fulldtng Legacies and Other DoD2tions Received Corpornte Donations Life Member SubwiptioDS Replacement Membership Cards Ineome TLX Reclaimed on GiftAid 93,134 16.794 3.816 5.265 545,9 J81.924 Goods DepaTttn¢nt. IDcome Costs 8,266 6,755 J7.002 126 Di8rÉes- IDcome Costs 1,661 (1,319) 2.645 (2,925) 342 Q80) Royalties and co1￿mISSiO￿ Re¢¢ived 155 177 Lottery Income 4,161 InV￿tM¢llt Income 33.412 29.255 Grant for CONA 1,148 3,816 Tolgj Income (farrled forivard) 586,719 2J3,4J9 Note.. This page does not forni part of the formHI accounts 16 The RoyalNa¥aiAsso¢laWon Inrome•nd ÈxpendhUreAc¢oDnttsrtheyearended31stDe¢emb￿2O2J toU￿t frnd 58&719 213,4]9 De￿￿¢1.. Ex￿lur¢ Admi￿ls￿l￿ve Stheiand Stsff Pth510n Scheme Con￿lbul NaiionslTn5yrhllcBContributioni PNRNC5UPWrtcuSts AccoulllallcyattdConsuitsncyF¢ 295.640 215.372 72,9S9 1&320 368,599 231.092 TTllvrlhng8od Liiisjn:. Gtsv¢r¢n¢¢ 14,938 16.505 7.069 11.7QJ 43J 19.2QJ C¢tstr41 Office OpenD& K8te$3lldUtilitses 3.577 3,528 3.172 3.892 Jl,679 PastageaudTtk￿oQc Printillg&swior 6.615 JQ14J Y￿l￿)k5 cit¢u1￿¥1nd N¢wiletters OffieeEqDipnKDtMA￿tCDnnC¢ Offi¢e FqpiprnEDtt£asth8 Mwk¢tiD&PubbcityaLd Webslte Grnphi Gizzits 2.354 872 15.643 5.973 149Q 17.470 3.953 5.054 7Ji 6278 3.078 3.8J6 CONA EXP￿￿1¢￿e I*EDd¢tstEX￿rtIDI￿D￿ mc￿￿[Ship Saf?BukYd1n$Trg￿WtyDNS Celtifiuts 14 1.380 285 I*￿1￿￿0PrQf￿IO￿a1Ftts Sub¥¢thPtioths to Oth¢rorgani￿ti0rffj Ballk Chw ondbtervt Curt¢o¢yConv¢r6ion (GE￿)1￿￿# 13,548 4.282 1.747 J.3Jo (5) J3.840 525 10,558 1,698 746 1,895 I￿C¢51S Ikprtriation ofFixnuuardFitlill 63 1.252 94 cnotsphBi¢DnialP StsDdtsd BeaTer*CoTDPEtitioD Social atsd cerwn0n￿) EveD 4,391 3.853 1,409 B,197 538 31,iN)3 IMCExe¢utiveCourKil Annual Conf¢t¢nc¢ UckEr&CbathpiotthiD C4PitatithiF¢es 1.463 23.193 1,539 165,146 1,599 J30.5J7 565J28 381.410 (D•lW¢IIStttyluifoY theyear 20.891 (167.991) NrtE.'ThSpa8ed￿l￿f￿n￿p￿0ftherom8l a¢￿￿. 17 THE ROYAL NAVAL ASSOCIATION Charity R¢gi$tration Number: 266982 STATEMENT OF ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2 BROOMS PROFESSIONAL SERVtCES LIMrrED CIL4RTERED CERTIFtED ACCOUNTANT REGISTERED A[1D￿ORs Contents Page Charity Reference and Adminlstratlve Details Trustees. Annual Report (separale document) Indopendent Examinerts Report Statement of Financial Actlvities Balance Sheet statement of Cash Flows Notes lo Financtal Statements 6-15 The Royal NavalAssoelatlon CharltyR•fer•nce andAdmlnlstratlve DetalLs fortheyearended3tst DKemb¢r2023 ch￿ity Regi5tra(ion number 266982 VAI]tn D L Potts CB- Natiollal Presid￿¢ Cdre M SlawsLM OBE RN- D¢puty National President Slm R Lock MBE- VicePresideDt Sltt) K R2'dley- Vice Presidelli and NCM 6 Arca WO l J Wright- Vice Pra%idenl- Warrant Officer lo theRoyal Navy WO I C Rob$m- Vice Ptesidettt- Sttviti8 Member SIM P Goodwitt-Naiiottal Chairman & NCM 8 Arca Slhq A Chtistie. Deputy National Chairnw) &NCM 3 ATra SIM M Foley- NCM l Area SIM W BeSfLtt- NCM 4 Area SIM P Chiv¢rs-NCM S ATeA SIM L Higgoll-YDull8-NCM 7 Area IS Wales & Gloucester) & Overse4s SIM S Sinbnon$. NCM 10 AFeA SIM R H&stie- Murtey. NCM I l Area SIM P StephellsoD. NCM 12 Area (Irelandl SIM S Elliot- NCM Scottish Area SIM l trvin. Nutional Trea5UT¢r Chief oxecutiv¢ offictt {Gtheral S￿) pÉ Bill OliphatttRN tnd4)elldent examiller BtoorL8 PTofes510nal S¢rvices Limited Broom HOUK 39143 LondoD Road H&dleigty B¢nfie E55¢x SS7 2QL Solicitor Messrs BlakeMorEart LLP Harbour Court, Compass Road Royal BoJJk of Scotland Holts Branch 31-35 Victoria Road Farnborough Th¢Roy41 Nary 8JJd Rcyal Marinecknity Independent Examlners, Report tothe Trustees ofThe Royal NavatAssoclatlon forlhe year ended 31st December2023 l report to th¢ ¢harity truste¢B Oll lljy ¢Xatt)iDAtion ofthe Hccounts orth¢ ¢JJarity for the year end￿ 31si De¢ember2023. Re8potsglbl]Id¢$ •Dd bo91s of repfyrt As th¢ clwitys tswstees. Y￿ Are re8[X￿sIble for the prepaTAtion of the A¢¢ixmts in accordanc¢ with therequiremejts of th¢ ChNriti¢s A¢t 2011 Cthe ACVI. I report in r¢speet of my examiD8ti0n of the charitys accounts ¢Ani¢d out under Section 145 of the A¢¢ alld in canying out my ¢xaminatkon I hav¢ followed 811 th¢ appli¢abk Direrti(6)$ 8iV¢ll by the Charity Commission uoder section 145(S)Ib) of the Aet. 1ndep¢lld￿t exAmlAer'8 5tst¢Awit The Charitys ￿ inGorn¢ eX￿ed £250,000 8nd l am qualified to und¢rthk¢ the ¢xamtllalion byiEing a qualifid member of the A$80¢iation of Chart¥¢d AccoutLtantS. I b8v¢ completrd my expmittation. I ¢onfirni thatnomaterial rntters have ¢omets my att¢ntion in conne¢tionwith the ¢xamioation 8iving mc to believe that in anymat¢riaJ w¢e¢'. l. acco￿lIng rttords wer¢ not kepl ill resp¢¢4 of the charity as required by 5¢¢tith5 130 of th¢ A¢¢ 2. th¢¥cwunts do not accord with thos¢ records" or 3. th¢ ac¢outtts do not comply with the èppli¢abk r¢qvirem¢nts concerning the fornl anOcoll*ll¢ of ACeO¥Qts set wt iaj th¢ Charili¢s (A¢￿￿15 and Reports) R¢8ulatiomLY 2008 Otherth￿ any requirEm¢u¢ thatth¢ o¢¢ouotS 8ive a ￿￿Ond favK wi¢wwhich is a ma CoL8Ld¢r￿Os part of aD independeirt ¢xArniDatiOn. I hav¢ no c￿ernS and have ¢(ffj)¢ a¢ross tso otherJDatters ID contlection with the ex8Min￿on to wbicb attention should be dTAVm iAthis re￿rt in orderto ¢nabl¢ a proper understanthgof the a¢cowits w b¢ re•¢bed. Sigll SolliA S]Mh FCCA ACA CTA Brooms Profes5ffio#al SerilceB IAd 39143 I￿lldO￿ Road Hadieigh Benfieet Essex SS7 2QL 311- 4 e4 t4 V r4 JI- I 3 continu The RoyalNavalAssorlatl<¥n Balan¢eSheei as at31stDecember2023 2023 2022 Flxed issets Intsnglble 86sets Tangible assets 10,8(K) 7.738 18,538 12 2,7J7 InVeSt￿e7ktS 13 lJ95224 1,4J6,454 Current 95sets Stock of gooth for ￿Sale Debtor8 B&l8nces with batJkers 8.769 91.978 296,350 JO,454 95,606 J65,048 14 Tolal¢rffTenl 0s3els 397,097 271.108 Credltsrs.. faUkn8 due withlD one year Creditors )5 162296 126,002 162296 J26.002 Nel currelltwsets 234.801 J45.106 ruli71ossets léss curnentliobilili 1648 663 1.564,277 Ullrestrkted fMnd5 Get￿al fill Life sUb￿ription bJDd Stsndarts fijttd 989.630 920,608 9,762 10.000 491.375 iO,ODO 491,375 Restrl¢ted fund5 Central ¢h8Tities fulld I￿0 good deots fund Brattchand Club support fuDd Navaj servieememrial fvDd Project setnaphort Helpiug bands fund 22.728 3,815 34,425 12,439 4.456 34.24J 9.928 3J,JSIO 3,333 7.452 8.304 9,337 537 6,178 4.325 852 5.078 8.227 2,666 M￿lbu$ fund Podcast fijtsd Wellbeujg salary fw Sparko ty fimd TEMS hmd RNRMC SIG Co.ordiDator 10,785 4,325 57,098 648 663 1.564.217 Thtse filw￿l•l statements were approved byth¢ Tnw¢¢5 ¢)n 20thMaTch2024 and sI￿d on theirbe]wJf by. Vice Admiral D Potts CB PreSid￿t I Jrvin FCCA HonoraryTTeasiiT The Royal Naval Asgoelatlon Statsmentof Cash Flow as at31st December 2023 Cuh now from fund a¢dvlty Net mov¢m¢nt in funds Reconciliation to caslL generated from operations: Depreeiation vestsnent income Net loss/(gain) (n¢t of ¢harges) in inv¢stm¢nts (Inm¢yDecreas¢ in Stock Gncrease)IDecrease in debtors Inerease/(Decrease) in creditors 84,386 (420,956) 1,050 (33.412) (28,870) 1,685 3,628 36294 039 (29.255) 220.483 2,547 (54,844.00) 18, 110 Net cAsh floY4 from fll￿d aetlvltles 64.761 Cash flow frvjn IDV¢$tlJg g¢tlvltleg Payments to a¢qu2re intangible f￿ed assets Payments io acquire tangible fixed assets Proceeds from disposal of fixed asset investments Acquisition of fixed asset investments Investment inwme r￿giV¢d (10,800) (6,071) 50,000 (2.008) 200.000 29,255 33.412 l¥et Cash flow from invesllng a¢tivlties 66.541 227,247 Ca$b flow from flnanesng aetivili¢$ Net IncreAse l (deerease) ID eAsh and t88h eqyiv*kDts 131,302 {42,029) Cash and ¢4sh eq￿1v￿1ellts at s*Art date 21123 165.048 207.077 Cash alld cash equlvalents at ettd dale 2023 296 Cash and equlvalents CODStsts of: Cash at bauk and in baud Sborttsrm deposits 296,350 J65.048 Cash alld cash equlvalents at end d#1¢ 2023 296 350 165.048 The Royal Naval Assoclatlo Notestothe Accounts for the year ended 31st December 2023 l. Aecoullting Pollcle5 A¢¢ountlng CoDven¢lon The fmancial statements have been pr¢pared under th¢ historical cost convention. m¢)dified for tbe r¢valuatioll of iDve51ments. They been prepared IT) a¢¢oTdat)ce with the Statement of Recoromended Practice- Accounting and Reporting by Cbarities preparing their 8c¢ounts in accordance with the Financial Rcporting Stsndard appli¢able in th¢ UK IFRS 102) issued in October 2019. applicable a¢counting Sta[￿ardS and the Charities Aci 2011. They have been prepared otj an 2ccruals basis of accountin& except fo the restricted funds, whi¢h have been prepared on a cash ac¢ountirnn8 basis. b. Intome Retognition tncome is recogoized in the period when thc Associatioll is entitled to re¢eipt and the amount Can b¢ M￿SUred with reasonable aecuracy. In accordance with this poli¢y.' Legacldv are included when the Royal Naval Association is advised that a payment will be rnade and the allM)unt Involv￿ Gats be quantifjed. Grants arc included when the conditions forreceipt have been complied with. Gifv in knnd and tsngibl¢ into￿e are i￿luded at tost to the donor if known, or the value to tb¢ Royal Naval Association at the date of re¢¢ipL Th¢ accounting policy for subscription income is detailed below. c. Fund A¢coumtkng General funds art llnrestricted funds which are availabl¢ for the vse at the discretion of ihe tsvsteu iti furtherallce of th¢ Designated fiujds ar¢ comprised of unrestricted fwid5 that have be¢n set aside by the trustees forparticular pulposes. The aim Restri¢ted funds are fimds which ate to be used in accordaDCe with specific restri¢tion8 irnposed by donoTS or whtch have tnvesttD¢nt income aud gains are allo¢at¢d to thc appropriate fund. d. Donations Donations are tsk¢n as income upon ￿¢¢Ipt, and allocated to each relevant fI￿d &s advsse(L . Llfe MeD)bers' Sub5eriptions Life subscription5 caIinot be purchased by individuals, but only byBranGhes and Are&8 in recognition of tiwitoriolls service. Life subscriptions re¢eived were brought into the Accounts a5 incorne by equal illstshnents over a period of ten years. But from 2023 Life subscriptions recieved are now brou8bt into the Accounts as illcome upon receipt. f. Glft Aided Subscription$ Incotne Tax is recoverable from HM Revenue & CustonK% iti respect of subS￿lpt1ons paid by gift aid, and is taken inlo account the year the subscriptions are received. The Royal NavalAssoclatlon NotestotheAccountslortheyearended 3tst December2023 l. A¢eouDIknB Pollths (contlDued) g. Jnvestm¢ats BHbk DepDsM Vtsttt￿Lts 8restated at markw v•lue as 81 the bala1￿e$heetda1ets1illgth¥tl0S1]18qU0¢al mRTketpiice. Realistyj gaiu$ 8tsd ksscs OD inve5bn¢nts ue cDtculated as the differeDce bBLweeD 5a]es pri¢¢¢d5 and thwrop¢nirt8 ¢wryDig valu¢4y theiTpurcb8se vahje if a¢quittyJ subsequetst to the fjrtday of the fitta¢ialye4t. ullrtb￿d aDd IossBSaTe c&lcukntui&sthe dkffetellce b¢tw¢eD Ib¢ vah]ellttheyear¢nd 2Dd tIL¢￿ ￿yill￿ Re81i5¢daud UDreabs¢dgain%8ttd kns8es at¢combin¢d in th¢ State])￿tOf FiD8n¢ial Actiwfjes. Dividetids atsd iti*resirtt¢ivabJe art illcludd ill tbc illcoll￿ expellditurea¢towrt wi￿1 t]Ky are tw¢ived at an arnountwhicb includeygnytax ¢t•Yitrrxov¢rnN¢ from HM Revthue & Custs*￿. Intrttst r(wavablc from fixedtthTh dewyits aTeac¢nwJ iti thewityj thatit isthj h. ￿￿end1*ure RccDgtiitioD Liabibties an T¢¢O8Di5ed as expcnditttre as sooll8S tbete is a Iwl orcon51￿ctive ob]igatiollwDmity8 th¢ cbarity tothllt ¢xFndilur4 it is pnthble th&t settlementwilt b¢ rquir¢4 artd th¢amountof tbeobb'8atiDll bB]]K&surd ￿￿&b]y. All ¢xttDditure is accounted foron an a¢cnwls basis. All ￿p￿Se% *tich￿l￿g supwtlX>5ts aDd8ov¢Tn￿¢09ls ar¢altwllte41 or wbtsD>J to theapplithle expaiture he&dinBS. '. AllocAtlon of Support GDverll•ntt Costs iovolving the pub]ic S￿0VAt￿bilIty0f the ¢barity and its comp]iaDrewith regujxtion aDd8[￿lP￿eti Th¢ 0nlyapporbollT[￿ttO governBllC¢ retweio 4dmiDiStrative sthrits etc.. BllDualconferew whichJTe j. Costof Rai5illE k Cost of Thlrltable Atdrfdes supwt Costs. L Tax Redalmed 4)n Glft Ald JLeott)et&x isrccovered fronj Hmkc ott iti¢ome￿knd 7W7 41345 516 9J13 1S9 9J43 142M7 407W2B 145,744 696259 Th Roy4lNavalAMocletlon NotestO1heAeeountsloriheye•i¢nd￿3ISlD•¢•fflb8W2o2j & A]io£Qtjollof8OVff￿IpÉ$lry0&ts￿PbrtQ0*i1 2023 2021 Olh Suppffi¢os TOMI Go}yr￿¢8 S#ppo ocured rehtsd COJ£f allocdted F¥ndEdfvnT AthnuIjmti￿ iikne5,nÈtiOnal ifftwratK¢ 4ndJ*ff PEnliDn Eeh¢me¢ontributionJ RNRMC*upportKé 29}64 29.564 23.537 21,537 72959 71.959 16.520 16.J20 7.009 14938 3577 3.$28 4062 61J 389 1.960 2.400 525 14.938 3,577 JS28 4.062 J.J73 J.802 2.098 Joi43 872 1.134 3,172 3.802 2.698 JO.14J 372 CouJpu*rsotttwor¢ Offi¢¢eqyipmeDt Offiwe4uipmEntiwitig 389 1,960 J.134 525 1,3JO 1.310 DepTec?atsonoffjxr0r¢s￿ finu knual￿fern¢¢ C8pwgtion ftes 746 746 039 2,319 639 2942 3.3J9 l J39 .539 145,744 49 95,90Q 72.010 48.245 23.765 io The Royal NavalAsso¢latlon NotestotheAc¢ount$forthe ye8rended 31st December2023 Gr￿ts A7varded 2023 2022 ntralChaririesFund.. Welfarc to Individuals 1000 GoodDeedsF¥nd.. Gtallts to illdividua]$ 641 J66 Branch undclub SupponFund.. Grants ty Braachts and ClubB 11,915 5,173 Irtsh TransportFund.. Grduts to ittdividuals 77 Total Grattts Awarded 13 5.33 10. Ithcomlng Resources after ¢h#rging: 2023 2022 Nei in¢omingreFourtes oresiotedafiercha￿Jn¥ in ihe GenerolFuml.. Broo]1￿ ProfessioLal Servic¢5 Ltd.. itid¢pcDdent¢X4Tnin8tion 2,400 1,000 taxation and consultsn¢y 16.320 D￿￿￿atioll of fixtur¢s alld fiiting8 1.050 639 li Thè Royal NavalAvJoclatlon Notes to the Accountslorlhe year ended 31st December 2023 ii. Intanglble fixed 458¢ts WebBIts Tothl CostlValuAtlon At 1st January 2023 Additions Di8posal8 At 31st Decunber 2023 10,800 10,800 10,800 10,800 Amortlsntlon At 1st January 2023 Charge for yegr Disposals At 318t Ikc¢mber2023 Net Book Value At 31st Deeember 21)23 10.800 10,8(K> Ai 31stDecember 2022 li TAnglble flxed 4ssets Flxtures and Total equipment Costlvaluatlon At 1st JAnuary 2023 15.493 15,493 Additioj 6,071 6.071 Disposals At 31stDe¢¢yJthr 2023 21.564 15,493 Deprecladon At 1st January 2023 12.776 11776 Charge for year 1,050 1.050 Disposals At 31st December 2023 13,826 13,826 Net Book Va]ue At 318¢ De¢ember 2023 7.738 7.738 Ai 31stDecember2022 2.717 2.717 12 The Royal NavalAssocl8tlon Notesto theAccount$for theyearended 31st DeCgmb•r2￿23 13. Illvestment5 Th¢ investtt)entportfolio has beenvalued atllWTk¢tvalue &8 at 31st Decem￿¥ 2023. Th¢ investsnents are categori8ed 8s follows: 2023 2022 M8rketValue Cost Morkel Value Cosi Listed inves1￿nts 1.395.324 1,429,589 1,4J6,454 1.48J,J05 1.395.324 1.429.589 1.416.454 1.481.J65 The invcslm¢rLt porthlio hi$ beert valued atrn￿ktt value as at 31st December 2023. Movements in fixed asset inv&8trllents 2023 2022 Mark¢t vallle biou8ht fonvard Additions at cost Dispo8a15 at Ca￿]￿g valu¢ Net gailllllossl on revaluation 1,416.454 709,196 1770,6801 40,354 1.836,632 706.352 1920,5581 1205.9721 Market valu¢ Carried forword 1.395,324 1,416,454 Attajysis of market value Orin￿$t￿ellts bytype.. 2023 Flxed Income Equltles Property Alternatlve Investments 212,428 964,263 60,545 147,038 11.052 150.715 971.677 62,804 175.406 55.852 LlquidAssets 1,395,324 1,416,454 Analysis of rn￿ket value of invcstrnetlts between th05¢ held wkthin and outside the United Kingdom.. 2023 Within the UK Outside the UK 458,558 936,766 390.559 1.025,896 1.395.324 1.416.454 13 The Roya( NavalAssoclatlon Notes to the Accountsforlhe yearended 31st December 2023 14. DelrtOTJ 2023 2022 Due from branches 11.874 35,113 44.991 12,257 28.242 55,107 Loans toolubs and branches S￿ndry debtors and prepayn*nts 91,978 95.006 15. Creditors 2023 2022 Trade creditors Due to branches Provisioll for capitatioll f Funds from decommwioned branches Swthy creditor4 accn]als alld defetted income 26527 2,023 1*92 75.660 56,194 26,089 2.698 1,951 65.943 29.321 162296 126.002 14 TheAoyal Na¥8lA8soclatton Nots5tothfrAG¢oyntsfvrthayoaweDded 31$1 Decomber2023 2022 S4lwic¥ Pe￿0￿ Costs ETnployer&'llational iJk8Ur￿ce 321,342 30,535 27.702 275,528 19,877 26,426 319.631 AV¢rd￿nU￿b¢r•t $tsff durn8 theye￿. Ernploy¢el emohun¢Ats beiow£60,0 Ernployte¥ emolumMts ¥bove£60,OOD E￿p10YeCI ernolumcntsppidthrijugh othttfvnd yonts 12 io No trustee0rp￿5On reknt¢dor C<>rd￿ttEébybuSi￿e$S to thcmh8srettiv￿ anyTEmunct#tithi frornthe A55ociatioL oorhav¢ th¢ye4teEÈd 1rttoattytt￿suthion, contr4ci oroth¢rarraDEethettt with the Assw￿￿ duYin8the year. ring th¢y¢at. eXp¢ll$￿ wer¢ r¢imbuTwJtoth¢Bo)rdofTnL8teemembetswbicb priD¢ipallyiwe5tni Tel￿Vr5¥d1[aVtII1ti& accomD￿damoll and sub&ist¢DCC ￿pEnSeS th attending me¢ting5 and ¢fficial att4nS¢rn￿ts, which ¥[* ty¢h￿ed in the'trav¢]iI￿8 ￿d]Ial$0￿. tsilional council Dnd oth¢rrownJittetiiJeetitV' COSEof£14.938. 16. Funds The GeDeThl FvDd and LifeSubsuirAioD Fur￿ aTcunr¢stsirteil fat 8enerolpwpcvA, DDdthis y￿( the life subscxipiioDS fvDd hasbeen tTrllSfe￿2d tD the 8¢tteAI fvnd. b. Th¢ sfattdèTdsFulld iswb¢ws¢dfor therepairor replacement ofdpm?rt I0sti)t 5to]Ellbts￿ch sthndDrds. o The Property Fund is dESi8oathd for the putpJse ofacquiriDgpropErty forusebythe C¢otralOffi¢¢. d. Tht Cetsttal CbaTiiiCS Fuud is V5a foT$pCcj￿charithblCprOiCcts whicb pTtyvidÈwith￿ckns¢r¥iU$•lld ex-naval per5OMtLtI atsd theiTdepeAdants. Th¢ 10(Y) Good Deeds Fulld i8 ￿ encourngefflote )bk sbiptsJa*s to tth less able shipmths outtoevtllts. £ Th¢BTrnch a￿a Club SupportFvnd wovj&s 45Si5LqnBe tDbt8n¢bc5 and thcir clubs. Th¢NavAI SthwiCtMemoriaJ Fulld (forU￿1]y￿0wn L% CharterChalienge2014 FuDd) 15 U5¢d foTth¢ fijntst tcDattccand iDyurance oftheTneTowitiI uected IETheNdiional Memuria] ATbot¢twts. b. TheProieciScrnaphoreFuDO i5 topiovidc iDformau(thiechDologytothc digilally isp12ted we￿805. TheHcJpuJgllunds Fund istoptovid¢ assist8U¢¢ to th¢ fina￿l￿ger1Plld voluntr¢Texpetts¢* This kndbas Dtsw been traDsfeTr¢dto theB?lleral futsd. j. IbeCoJDms Fund is wer0￿￿proVlded byCTmwi¢h Hospiwl Is L graDt to allow the utiwoyed coJllrn5 with IbeRNA throu8hemploJm¢rttofacomms profcssional in th¢ rcDtsaloffi¢¢ teanj. k Th¢TrishTAospM Futsd is w proside fillan¢ial 35515taRce foithcptoirysion oftr4nsport im the whoieof IrEla l. Tr MiuibusFuDd i& iobeused 10 supply oud IbttotsiLibu5e5 torniiisaie isdaioD illvete1a￿$. ThePookaStFund is topromo*aDd conts2but¢Ioth?w￿bÈi￿B0fshlpAW1cS tackleloneliDe58. Thi¥ futtd has tsowbeen transf￿[￿ to th2BetLual fithd. Th¢ Wellbeth8Fund LB tvyrovid¢fuDds foT#sthry alld debV¢ryforthcpmfes8ionB￿uIloD ofW￿rates￿pPortto Ibem¢mberthip. Sp￿kn TVFund isserrtyw$lyiKovSWbyRNRMC forRNAmemkn QKpeDses *swiit¢d wltb thesllpplyof thr SparkoProjEBt Jx IEMS (r[a￿ltiOnED￿0JmImc￿tQrITr8 Sthw¢l tllettt0ri0gsche￿fQrpusOnntI kavinglb¢ Roy￿NI*Y. q. RNBJIC SIG crr0rdintorFur￿ h85 b¢eD e5t8b1is1￿d wilh i genotous yantfro]ll the fuud wh￿hha5 beenrtceived from theCov¢DRiTTU31tbrDuth RNRMC. Itisainwd atnTr4kiDg theA539Liation morta¢ee5&ibk Attd 0￿rea#r*￿vet0wOr￿ltsg3BQ Vetsn￿gI￿È￿bYImpr0V)uBthe￿ wellbiA8atsdmeLLglhe41th resiliew Is The Royal NavalAssoclation Income and Expendlturek¢ountforthe yearended 31st December2023 2023 2022 Income Members Donations Received 72,￿1 72.959 153.485 233.639 8J50 61,708 RNRMC Serviees Donated RMiMC Fulldtng Legacies and Other DoD2tions Received Corpornte Donations Life Member SubwiptioDS Replacement Membership Cards Ineome TLX Reclaimed on GiftAid 93,134 16.794 3.816 5.265 545,9 J81.924 Goods DepaTttn¢nt. IDcome Costs 8,266 6,755 J7.002 126 Di8rÉes- IDcome Costs 1,661 (1,319) 2.645 (2,925) 342 Q80) Royalties and co1￿mISSiO￿ Re¢¢ived 155 177 Lottery Income 4,161 InV￿tM¢llt Income 33.412 29.255 Grant for CONA 1,148 3,816 Tolgj Income (farrled forivard) 586,719 2J3,4J9 Note.. This page does not forni part of the formHI accounts 16 The RoyalNa¥aiAsso¢laWon Inrome•nd ÈxpendhUreAc¢oDnttsrtheyearended31stDe¢emb￿2O2J toU￿t frnd 58&719 213,4]9 De￿￿¢1.. Ex￿lur¢ Admi￿ls￿l￿ve Stheiand Stsff Pth510n Scheme Con￿lbul NaiionslTn5yrhllcBContributioni PNRNC5UPWrtcuSts AccoulllallcyattdConsuitsncyF¢ 295.640 215.372 72,9S9 1&320 368,599 231.092 TTllvrlhng8od Liiisjn:. Gtsv¢r¢n¢¢ 14,938 16.505 7.069 11.7QJ 43J 19.2QJ C¢tstr41 Office OpenD& K8te$3lldUtilitses 3.577 3,528 3.172 3.892 Jl,679 PastageaudTtk￿oQc Printillg&swior 6.615 JQ14J Y￿l￿)k5 cit¢u1￿¥1nd N¢wiletters OffieeEqDipnKDtMA￿tCDnnC¢ Offi¢e FqpiprnEDtt£asth8 Mwk¢tiD&PubbcityaLd Webslte Grnphi Gizzits 2.354 872 15.643 5.973 149Q 17.470 3.953 5.054 7Ji 6278 3.078 3.8J6 CONA EXP￿￿1¢￿e I*EDd¢tstEX￿rtIDI￿D￿ mc￿￿[Ship Saf?BukYd1n$Trg￿WtyDNS Celtifiuts 14 1.380 285 I*￿1￿￿0PrQf￿IO￿a1Ftts Sub¥¢thPtioths to Oth¢rorgani￿ti0rffj Ballk Chw ondbtervt Curt¢o¢yConv¢r6ion (GE￿)1￿￿# 13,548 4.282 1.747 J.3Jo (5) J3.840 525 10,558 1,698 746 1,895 I￿C¢51S Ikprtriation ofFixnuuardFitlill 63 1.252 94 cnotsphBi¢DnialP StsDdtsd BeaTer*CoTDPEtitioD Social atsd cerwn0n￿) EveD 4,391 3.853 1,409 B,197 538 31,iN)3 IMCExe¢utiveCourKil Annual Conf¢t¢nc¢ UckEr&CbathpiotthiD C4PitatithiF¢es 1.463 23.193 1,539 165,146 1,599 J30.5J7 565J28 381.410 (D•lW¢IIStttyluifoY theyear 20.891 (167.991) NrtE.'ThSpa8ed￿l￿f￿n￿p￿0ftherom8l a¢￿￿. 17