Registered Charity Number 270477
## **REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[st] DECEMBER 2025 FOR THE ROYAL ARMY PAY CORPS REGIMENTAL ASSOCIATION**
## **Table of Contents**
|Annual Report|Introduction|2|
|---|---|---|
||President’s Report|3|
||Welfare|5|
||Membership|7|
||Finance|16|
|Annex A|Association committees|19|
|Annex B|Financial accounts and IE report|21|
||Independent Examiner’s report|22|
||Statement of financial activities|23|
||Balance Sheet|24|
||Notes to the financial statements|25|
1 of 29
## **INTRODUCTION**
1. The Trustees submit this their 78[th] report and financial statements for the Royal Army Pay Corps (RAPC) Regimental Association for the year ending 31[st] December 2025. The Association’s Council of Trustees sets the strategy and operating parameters for all activities including the policies for the making of grants, investments and reserves. The day-to-day routine administration is delegated to the 3 Committee Chairmen (Finance, Membership and Welfare) supported by the Association Administrator and the Association Accountant.
## **OBJECTS AND PUBLIC BENEFIT**
2. The objects of the RAPC Regimental Association, as laid down in the Rules, are:
- a. To promote the efficiency of the Army by:
(1) Maintaining contact between former members of the Royal Army Pay Corps (the former Corps) and former or serving members of the Adjutant General’s Corps (Staff and Personnel Support Branch) (the Branch); fostering mutual friendship between them and providing for social gatherings for them; and
(2) Fostering esprit de corps, comradeship and the welfare of the Branch and preserving its traditions and those of the former Corps.
b. To relieve either generally or individually members of the Association, former members of the former Corps and former and serving members of the Branch and their dependants, who are in conditions of need, hardship or distress.
## **GOVERNANCE**
3. **General.** The Association is a General Charity with a registered number of 270477. The Accounts and Independent Examiner’s Report are at Annex A. The address for communications is:
RAPC Regimental Association PO Box 2044, Andover, Hants SP10 9LZ
email address: administrator@rapc-association.org.uk
4. **The Rules.** The constitution, organisational structure, objects and the methods by which they are attained are as laid down in the Rules which also act as the Charity’s governing document. The rules are available to our members both on the Association website and by request from the Administrator or Honorary Secretary.
5. **Committee Membership.** The current make-up of the various Association committees is at Annex A.
2 of 29
## **PRESIDENTS REPORT**
6. Although I seldom approach it with a spring in my step and a song on my lips it is a useful exercise to have to produce this foreword to the mass of detail that is our Annual Report. Why? Because the day-to-day activity, sometimes urgent, sometimes important and sometimes both, can be so engrossing for all concerned that we do not necessarily remember to look at the whole picture. A friend describes this as ‘putting our foot on the ball’, although for a hockey player such as myself I am not sure the metaphor works as well. It is important that we should, though; this year has been a busy one in organisational terms and we are now in good order, if that is not tempting fate too far.
7. Finances underpin everything, of course, and it is gratifying that we again end the year with an excess of income over expenditure. Not glamorous, I accept, but vital to enable fellowship and benevolence to be funded at the level to which we have become accustomed. In terms of seeing the ‘big picture’, as well, it is interesting to recall that when I joined the Council 9 years ago everyone was very concerned that we would run out of money and so be forced to close down, or at least drastically reduce expenditure. It seems very much more likely today that we will run out of people willing and able to do things well before that happens.
8. As Jon Ward mentions below, in the Membership Report, we are seeing a definite drop-off in our regional branch footprint. That is partly due to our ageing membership – with every year that passes fewer people have the energy or inclination to attend events – but even more to the difficulty of finding volunteers to take on the sometimes-thankless task of organising things. We have a cunning plan to address that in the coming year, however, so watch this space. Even better, if there is nothing on offer in your area see if you can find a couple more of our brethren within range and start a monthly or quarterly pub lunch or midmorning brunch somewhere. These things have a habit of taking off and there is no specialist qualification required in order to put the world to rights with a couple of chums.
9. You will note that requests for welfare assistance have bounced back to pre-covid levels, both in case numbers and cash terms. As with the previous decline, there is no obvious reason that we can see for this. I am pleased though, as I am sure you are, that we remain in a position to help those of our cap-badge who have fallen on hard times. While we never seek to replace or bypass national welfare we can occasionally help supplement it to good effect.
10. I began with a claim that as an Association we are now in good order, and I realise that I have yet to substantiate such a claim in full. Well, a small but select band of gnomes has been busy behind the scenes for over 2 years to bring us back up to scratch on all those things that can slip over time. Our policies and procedures have all been scrubbed and updated where necessary. Just as importantly there is now a process to keep them that way! Data protection, our own database, our IT system and filing system have all been dragged into the 21[st] century and now support our volunteer workforce very much more effectively. We have combed through a mass of historic hard copy, scanning where required, donating to the AGC Museum where appropriate, and shredding the remainder. We have even, whisper it, got a handle on Gift Aid.
11. Mindful of the Charity Commission guidance on allowing people to remain in post overlong we have also taken steps on succession planning. Last year we engaged a new contractor as our Accountant. This year we have done the same with the Administrator post, saying farewell to Jeremy Drake after 19 years and welcoming Roger Walker. Both of these contracts will be reviewed every 3 years. Ron Rosenhead has handed over as Treasurer (after a ridiculously long time in post) to Mark B-D, and Pete Hawkins has taken over Welfare. I would like to place on record my thanks, on behalf of the Association, to all of
3 of 29
them for their service. Council itself has not been immune to this wind of change, and we have lost some of our stalwarts. I am confident, however, that the subsequent infusion of fresh blood will express itself in maintaining and improving on the standards set by their predecessors. Apart from the normal business we do every year their big challenge will be to produce a 150[th] Anniversary year to remember. It is only a couple of years away – 2028 - and there will be plenty of work to go round.
12. And finally, as I always do, may I express my most sincere thanks to all those of you who have (yet again) given up your time and energy over this reporting period to make our Association work. Without your and your families’ support we would have nothing.
Fide at Fiducia
AB
4 of 29
## **WELFARE**
## **Headlines:**
- **20 welfare cases considered, of which 17 were supported**
- **A rise in number of cases, year on year, and overall spend doubled**
13. **Welfare Committee.** The Welfare Committee membership has increased to eleven, this includes the Chair, this continues to reflect a broad cross-section of rank and military experience. A former Committee member has expressed interest in re-joining in the New Year, which will bring the Committee to its current maximum of twelve. Although the Committee has not met face-to-face for some time, it continues to deliver routine business and provide a full service remotely.
14. **Welfare Caseload** . During 2025, a total of twenty cases were presented to and considered by the Committee. Seventeen of these cases received support to varying degrees. Of the remaining three, two were withdrawn by the applicants and one was assessed as outside the scope of current Welfare guidance.
15. **Grants.** Grants awarded by the Association have been categorised by the primary cost driver within each application.
|**Category**|**2024 Cases**|**2025 Cases**|**2024 Welfare**|**2025 Welfare**|
|---|---|---|---|---|
||**supported**|**supported**|**Grants**|**Grants**|
||||||
|EPV’s,Wheelchairs,Stair lifts|1|2|£1000.00|£2500.00|
|Clothing/Food Vouchers|1|2|£629.00|£1080.00|
|Funerals/Memorials|2|3|£1450.00|£2887.87|
|Heating, Home Repairs, Carpets,
Painting|1|2|£1000.00|
£2250.00|
||||||
|Home Adaptation|1|4|£500.00|£4350.00|
||||||
|Homewares, white/brown goods etc.|2|2|£1133.59|£1061.82|
|Nursing Home Fees or Annuities|0|1||£1560.00|
|Other|2||£1,715.47||
|Riser-Recliners/Profiling Beds/Specialist
Furniture|1|1|£500.00|£1000.00|
||||||
|**Total**|**11**|**17**|**£7,928.06**|**£16,689.69**|
**Table 1 – Comparison of 2025 Welfare Grants awarded with Previous Year**
16. **Unsuccessful Application.** One application has, in its current format been classed as outside the scope, this submission was not made through the normal channels but came in directly from the Private Healthcare provider. This case was also submitted to the AGC, with the same outcome.
17. **Referrals to Other Charities** . The “Mosaic” Case Management System remains challenging to operate and interpret. However, SSAFA Caseworkers can readily assign individual cases to multiple charities when appropriate. This year we have seen several cases supported jointly by the Royal British Legion, Poppy Scotland, and, where applicants have served under multiple cap badges, by Corps such as the AGC and REME.
5 of 29
## 18. **Analysis and Trend.** The headline points are:
a. **Application Demographics** . The age range of applicants this year was 57 to 93, with an average age of 75.9 years. This represents a significant shift from last year’s average of 62.5 years. No clear trend explains this change, historically, it had been assumed that pensioners were relatively insulated by above-average increases in State Pension income. Further analysis will be conducted in 2026.
b. **Application Volume and Expenditure** . Seventeen applications have been supported this year, this is the highest number post COVID, as illustrated in Graph 1, grant expenditure has also increased noticeably.
**----- Start of picture text -----**
RAPC Welfare - Amounts by Year Awarded
18000
16000
14000
12000
10000
8000
6000
4000
2000
0
2020 2021 2022 2023 2024 2025
**----- End of picture text -----**
**Graph 1 – Monetary value of awards for period 2020 – 2025**
19. **Challenges** . Committee members are experienced and well-versed in assessing applications, with many having served the Committee for several years. The primary ongoing challenge remains the quality and completeness of information provided by SSAFA Caseworkers. Inadequate case detail continues to hamper the administrator’s ability to prepare comprehensive submissions for review.
20. **Summary** . This year’s expenditure represents the highest level since before COVID and is a positive indicator that veteran members are receiving the support they require. We continue to see an increasing number of applicants with shared service in the AGC, and closer liaison with them has already been beneficial and will remain a growing area of engagement.
6 of 29
## **MEMBERSHIP**
## **Headlines:**
- **Number of life members continues to decrease; this year we lost 89 life members reducing the total to 2695.**
- **Dormant members represent 54% of our overall membership.**
- **Income generation was boosted this year by a £66K legacy from the late Major Freddie Gates.**
- **Easyfundraising has increased to 67 members and is generating income for the Association at no cost to members.**
- **Our regimental magazine was circulated 3 months earlier than the previous year despite some delays in the printing and distribution.**
- **7 national events were organised this year and all well supported.**
- **27 Regional Branch events, attended by a total of 731, have been delivered albeit slightly down from 38 last year.**
- **7 golf events have been enjoyed by 105 members.**
- **113 reported deaths in 2025, flowers sent to the funerals of 21 members.**
- **132 crosses were laid at the Field of Remembrance, remembrance wreaths were sent to 18 members to lay in their home area, and 14 members joined the Cenotaph march.**
21. The Association continues to put members at the forefront of our decision making. Membership is the very lifeblood of our charity, without which it ceases to have a purpose. The Association database contains partial records for 6393 members we believe to be still alive; this is down by 208 members from the start of this year. Many RAPC and WRAC veterans have lost touch with their Association, and these members are shown as dormant. The Chart below gives a breakdown by category:
Graph 1 - Membership by category at 31 December 2025
7 of 29
22. **Changes since Last Year.** We have 89 fewer life members than at the start of the year, despite our best efforts to encourage more members to join, but given the age of our membership this is hardly surprising. The breakdown below shows the changes:
a. **Extraordinary Members.** An increase of 10 members this year, mostly the children or grandchildren of deceased members.
b. **Resigned** . An additional 3 life members resigned this year but, as with dormant members, we keep them on our books to hold a record of their RAPC service and, when the time comes, to record their passing in the annual roll of honour and offer our support to their families.
c. **Associate.** An increase of one record – we offer associate membership to the widows of our members. Some stay with us whilst others accept membership for just a year or two and then leave.
d. **Life** . We have 89 fewer life members than we had at the start of the year. Despite attracting new members, we have also seen 113 reported deaths in 2025.
e. **Dormant** . We have 133 fewer dormant members than last year. Most of these were dormant Associate members for whom we had no contact details and therefore no reason to hold the limited data we had in the database. Next year we intend to put more effort into researching our dormant members – beginning with the 208 dormant members who (if still alive) are now over 90 years old.
23. **Income Generation.** The Association is a charity in managed financial decline; donations from members and interest on investments merely help us to slow the rate of decline and in doing so prolong the life of our Association. Although we do not have a programme of income generation or fundraising, many members are extremely generous in giving their support through:
a. **Regular Donations.** Approximately one third of contactable members regularly donate funds though direct debits or standing orders. Donations this year have exceeded our budgetary forecasts.
b. **One Off Donations.** We frequently get one off donations from grateful families for helping them find out more about a relative’s service or for support given after the death of a member.
c. **Gift Aid.** This is a great system for Charities as claiming gift aid on donations from UK taxpayers enhances our income. All donors are asked if they are UK taxpayers and willing to sign a gift aid declaration. Although on the accounts it appears we have not claimed as much Gift Aid this year, this is a one-off anomaly as we transition to claiming by Financial Year rather than, as we have done previously, by our Accounting Year.
d. **Pecuniary Legacies.** Every so often, the Association receives a letter from a solicitor telling us we have been left something in a former member’s will. This year we were very grateful to the late Major Freddie Gates for leaving the Association one third of his estate, the massive sum of £66K.
8 of 29
e. **Easyfundraising.** This is a great way to generate income for the Association, and it is somewhat disappointing that only 67 members have elected to join but despite this reluctance to engage, the income has steadily increased.
24. **Data Protection** . The Association is registered with the Office of the Information Commissioner and our data protection policies are reviewed annually by the Board of Trustees.
25. **Association Database.** The Association database holds only such information on members as is necessary to conduct Association business. Access is restricted those who need it and is also compartmentalised to allow authorised users access to a limited subset relevant to their task. Each database user signs a confidentiality agreement, and records are updated frequently.
## **Communication**
26. **Magazine.** Our annual regimental magazine was produced and eventually distributed in March, some 3 months earlier than last year. The Association target is to have a magazine for the previous year ready for members by the end of February – a target we failed to achieve because of several delays that were outside of our control or influence:
a. The printer encountering unexpected cash flow issues. The printing and distribution company we have worked with for many years has now gone into liquidation.
b. The increased size of the magazine required a different method of binding as staples could not give a professional finish.
c. The weight of the magazine required a stronger envelope leading to a complete reprint of new envelopes that were strong enough.
d. The filling the envelopes and postage took much longer that predicted because the printer had to reschedule resources because of the envelope issue.
Despite all of this, we did (eventually) circulate a magazine which drew positive comments from many members.
27. **Social Media/Contact** The Trustees have a policy of not engaging in social media debates or using commercial marketing, preferring to use the members website enquiries and conventional lines of communication.
a. This year 119 members contacted the Association through the enquiries system and 30 members contacted the Association with specific concerns. Many of these were straightforward and dealt with by the Administrator but some required a more considered response from Council members. All queries were dealt with in a timely manner.
b. In December 2025 our enquiries system was attacked by 241 spam emails which caused a lot of unnecessary work – our contracted supplier has now inserted more validation to prevent any recurrence.
9 of 29
28. **Website** . We now have two volunteer webmasters who strive to keep our website topical and interesting – reports are produced with photos for our events, and we encourage our members to contribute articles of interest. The Trustees have discussed the limitations of our current website. Council has agreed in principle to replacing it in the next 3 to 5 years.
## **Heritage**
29. **Corps HQ AGC.** The Association maintains strong links to the Adjutant General’s Corps (AGC) and our regimental home, Worthy Down, through regular dialogue with the Corps HQ staff and having the Corps Col AGC as one of our trustees. This year, along with the WRAC Association, we have commenced developing a Bond of Friendship with the AGC Association which will allow our members to benefit from more events at Worthy Down, opportunities to use AGC facilities such as the holiday homes and more occasions to allow our members to gather with serving members.
30. **AGC Museum.** The AGC Museum holds our regimental history has continued to provide answers to regimental queries from families and to support us. Hampshire Cultural Trust displayed the stylized Hans Coper mural of an RAPC cap badge in the Winchester discovery centre. The redevelopment of the museum has temporarily stalled but the RAPC Coper mural remains a key element of the eventual design. The digitization of the whole RAPC
collection continues, and it is hoped to have a virtual museum and search facility available to members in the next 2 to 3 years.
31. **NMA Alrewas.** Our monument at the National Memorial Arboretum has been visited by many members and draws positive comments from not just our members but also veterans of other regiments and corps. It is good to see through their pictures on social media that many more members are taking the opportunity to visit this wonderful site.
Photo 1 - The RAPC Monument at the NMA, Alrewas
10 of 29
## **Fellowship**
32. **National Events.** This year the Association has delivered 7 national events which were open to all our members including one event in recognition of those who volunteer to assist the Association to deliver its objects:
a. **Annual Dinner** The annual dinner was held at The Union Jack Club in London on 25 April 2025, with 57 attending.
b. **Belton Wood Annual Dinner** The Apprentices Branch continue to organise this accompanied alternative event at Belton Wood. The dinner continues to be popular, being more relaxed and accompanied, with 75 attendees enjoying an excellent relaxed meal and for some, a round of golf on the following day.
c. **NMA Service, Reception and Hot Buffet** This year we had to change the format to this event with a service in the chapel celebrating the achievements of the RAPC, a reflection on those we have lost at the RAPC Memorial followed by a reception and hot buffet with friends. This event was attended by 80. This year we also took the opportunity to invite our volunteers to this event to allow the Board of Trustees to thank them publicly for giving their time to volunteer to assist us deliver our charitable aims.
d. **RAPC Sunday** This year the Association were encouraged by In-Pensioner Roger Thompson to have an RAPC Sunday event at the Royal Hospital. The event was excellent and well supported by the 123 people who attended. This will now be part of our annual calendar.
e. **Families Remembrance** This is arguably our most important event; an opportunity for recently bereaved families to join us in remembrance of their lost loved one at the Field of Remembrance in the grounds of Westminster Abbey. The event is organised by London Branch and 13 families of the 132 lost members, elected to join us. The service was conducted jointly by Trustees and members of London Branch. There were 81 people at the service and a large percentage of them joined us for an excellent Sgt’s Mess curry after the service.
f. **Battlefield Tour** Another successful battlefield tour took place in October 2024 with 21 members enjoying a guided tour of the Ardennes Counteroffensive
33. **Officers Dining Club.** This dinner, which is arranged in partnership with our SPS Branch and WRAC colleagues, takes place annually in the Officer’s Mess, Worthy Down. This year, one third of those officers attending had served in the RAPC. The dinner is a unique opportunity for retired officers to dine with serving and retired officers of the SPS Branch and the WRAC.
34. **Branches.** We have 12 regional branches and one national branch for the Apprentice community. Our Branch Chairs, often supported by other volunteers, offer events to their local RAPC community. Although it is getting difficult to recruit replacement branch chairs and some of our members are getting to that age where travel is difficult; the Trustees unanimously agreed to continue supporting the regional structure as long as it remains viable.
11 of 29
35. **Grants.** Branch events have this year attracted a total of 731 members which is an outstanding achievement by our volunteers. A breakdown and comparison with all the events in 2024 are shown below.
Table 1 – Comparison of Branch Activity with previous Year
36. **Golf.** The RAPC Golf Society has organised 7 events this year, including an overseas tour in Portugal. A total of 105 have attended and enjoyed the golf events this year, not all of whom are golfers, some just visit the events to meet old friends, have coffee and maybe eat, in a relaxed environment.
37. **Pop Up Events.** This is an emerging concept – self help events that can be organised by any member, anywhere, or by a group of members celebrating their service together or the geographic location. We have had 5 pop up events this year; 3 apprentice intake reunions, one recruit course reunion and one regional reunion with a total attendance of 74. Pop Up events may well be a significant part of the future - if we continue to lose volunteers to run branches to provide regional opportunities - for RAPC fellowship gatherings.
12 of 29
## **In Memoria**
Photo 2 - The RAPC Plot at the Field of Remembrance, Westminster Abbey
38. **Last Post** . In 2025, there were 113 reported deaths of RAPC veterans, although 61 of them occurred in 2024 or were belated reports of deaths through various channels. May they all rest in peace; we will never forget their service to their Country. Where notification is timely, the Association sends a condolence card to the family and offers use of the RAPC regimental standard, coffin drape (RAPC flag), and flowers for the funeral. Late notifications, no flower family wishes, and a greater use of companies like Pure Cremations has impacted on the number of families we are able to support at the funeral.
39. **Support to Families at Funerals** . This year we sent floral tributes to the funerals of 21 members:
Corporal Eric Allen Major Denis Barber Warrant Officer Class 2 Terry Bell Sergeant Glenn Croston Staff Sergeant George Frith Staff Sergeant Peter Green Private Andrew Gillard Staff Sergeant Colin Imeson Corporal David Joddrell Warrant Officer Class 1 Stephen Joslin Warrant Officer Class 2 Roy Morris
Private Peter Munro Staff Sergeant Ted Naseby Corporal George Patmore Major Eddy Payne Sergeant Colin Peters Corporal Mike Rasmussen Warrant Officer Class 1 Peter Rice Warrant Officer Class 1 Tony Suggitt Captain John Whitelaw Warrant Officer Class 1 Martin Yoxall
13 of 29
## 40. **Field of Remembrance.**
The Nation’s Remembrance events begin each year with the opening of the Field of Remembrance laid out on Abbey Green at Westminster Abbey. Not only is this site at the very heart of the capital, and within a stone’s throw of Whitehall, Parliament, and the Palace, but it has been a major place of worship for a thousand years. This event was opened by Her Majesty Queen Camilla and the RAPC was ably represented by 4 members of the Executive Committee.
Photo 3 – HM Queen Camilla with Lt Col Mark Burton-Doe
41. **Remembrance** . As is customary, the Association supported remembrance events up and down the Country and overseas, providing 18 RAPC remembrance wreaths to members who requested them. We also laid 132 remembrance crosses (see picture below) at the 2025 Field of Remembrance; one for each member whose death was reported in our remembrance year that ran from 1 September 2024 to 31 August 2025. It is hard to think of a more fitting place to begin the annual commemoration of our fallen comrades.
42. **Cenotaph March Past** Despite ill-health, old age and various other factors reducing the numbers each year the RAPC contingent of 14 RAPC members marched proudly past the Cenotaph.
Photo 4 – RAPC Contingent forming up for the Cenotaph 2025
14 of 29
## **The Reason Why**
43. After administration, membership activities remain the largest expense on our balance sheet and some may wonder why we spend so much. Well, membership activities:
a. Encourage our members to socialise with other RAPC veterans, reducing isolation, increasing morale a key component in the delivery of our charitable objects. Whilst we continue to struggle to get volunteers to organise events, those we have work relentlessly to support their RAPC community delivering this year a total of 40 events which were enjoyed by 1254 attendees.
b. Maintain contact with our members through our website, distributing over 3000 copies of our magazine and through invites to central events. For some these contacts are a vitally important part of keeping in touch.
c. Celebrate the achievements of RAPC personnel and provide support to bereaved families and offer them the option to share our final farewell to their loved one at Westminster Abbey.
d. Protect and maintain the RAPC heritage within the AGC Museum, the Worthy Down site, Winchester, Devizes and at our monuments.
44. Without members there would be no Association………………………………….
15 of 29
## **FINANCE**
## **Headlines:**
- **Excess of income over expenditure for the year - £34.6k**
- **Unrealised gain on investment - £31k**
- **Investment income received - £33k**
- **Unexpected bequest of £66k received in-year**
45. **General.** The Management of the Association’s finances is carried out by the Finance Committee, supported by the Accountant, as directed by the Council of Trustees (Council). Sarasin & Partners carry out the management of the Association’s investments, and the accounts are independently examined by Mrs J Killip FCMA CGMA.
46. **Policy on Reserves.** The Association exists to meet our objectives and public benefit statement laid out in Para 2 of this report. Council has accepted that over time available resources may become insufficient to achieve this and that the charity is now in managed decline. The Trustees continue to monitor this situation and have set financial trigger points to inform them of when more detailed planning for this event should commence.
47. **Investment Performance against Target.** Using the balanced risk approach mandated by Council Sarasin achieved a return of + 5.4% and income of £33k in 2025 against the Association’s target of CPI + 4%. Sarasin acknowledge that this was behind the composite benchmark return of 12.4% but rightly point out that the portfolio has outperformed our target with annualised growth of 8.5%, when taken over the last 3 years.
48. **Change of Holdings.** Sarasin transferred our holdings to the Sarasin Core Endowments Charity Authorised Investment Funds (CAIF) which has the same strategy and investment returns but broadens the investment universe by removing the ethical restrictions on the armaments and alcohol sectors. The other exclusions (tobacco, pornography, gambling, and predatory lending) remain in place. All their military charities will move to the new CAIF.
49. **Capital & Reserves.** The presentation of the Capital & Reserves falls under 3 main headings:
a. **Unrestricted Fund** . Activities that are carried out in fulfilment of the Association’s Objects are transacted through the Unrestricted Fund.
b. **Restricted Funds.** The Restricted Funds are payments for activities where members expect something specific in return, i.e. contributions towards events, such as the NMA Service, Annual and Reunion Dinners. A summary of the income and expenditure and grants made from the Restricted Funds is shown with the accounts.
c. **Endowment Fund.** The former RAPC Charitable Fund was transferred to the Association in 1992 as a permanently endowed fund with the stipulation that the income was to be spent exclusively for welfare payments with the capital remaining untouched.
16 of 29
50. **Endowment Fund Gains** . In order to recoup the capital losses caused by market conditions in 2022/3 Council took the decision not to take distributions for the Endowment Fund but instead allow them to accumulate. This year the unrealised gain on the Endowment Fund was £4,824, bringing the value of the Fund to £98,582.
51. **Income.** The main sources of income are distributions from investments, donations from members, and gift aid claimed on eligible donations. Key variations compared with 2024 are shown below:
a. **Voluntary Income** . Voluntary donations and gift aid is broadly similar but overall income is inflated by receipts of £66k from a pecuniary legacy.
b. **Income from Charitable Activities.** Income is up by £3k on 2025 due to increased activities and greater attendance at events.
52. **Expenditure.** The following are the main points when comparing this year’s expenditure with 2024:
a. **Welfare Grants.** As can been seen from the Chair Welfare’s report welfare grants are up on last year. The discrepancy between the figures in the report and the amount shown in the accounts is due to several returned grants and the omission of £125 in respect of Christmas grants to Chelsea Pensioners.
b. **Remembrance.** Expenditure on remembrance is down on 2024 by £2k through lower demand for wreaths this year and fewer families being able to join us at the Field of Remembrance event.
c. **Communications and Information Systems.** Expenditure in this area is higher due to the increased cost of producing the bumper Primrose and Blue, changes to the MS Not for Profits policy, and programming support to our essential IT systems.
d. **Administration and Governance.** It is pleasing to note the reduction in spend in this area as the Executive Committee continues to seek efficiencies. It is obvious that some costs cannot be avoided but where there are better ways of delivering our Objects, we must embrace them. With this in mind the Trustees have built upon the foundations laid in 2025 for a staged reduction in costs by:
i. Reducing the number of face-to-face committee meetings to save both direct meeting costs and attendee T&S. Many meetings which took place in London have been moved to Worthy Down reducing the travel and meeting room overheads. The downside here is that it disadvantages Trustees and Volunteers not based in the South or South-East.
ii. Maintaining as many as possible of the Association’s email accounts on Microsoft's ‘Free for Non-Profits’ accounts. This standardized our approach and provided free access to MS Teams for meetings and filing / sharing documents. The use of MS Forms for event planning and canvassing members opinion has also reduced cost and simplified processes.
53. **Summary.** This has been another strong year for the Association’s finances. Investment performance has been reasonably good, and members have continued to give voluntary donations. Welfare and fellowship needs have been funded both within budget and in line with current policies.
17 of 29
## **DECLARATION**
54. This Report was approved by the Association Trustees at – on -, and is signed on their behalf by:
## Signature
Name Alan Brown Appointment President, RAPC Association Date 27[th] February 2026
## **Annexes** :
- A. Trustees and Committee Membership in 2025
- B. Independent Examiner’s Report and Financial Accounts
18 of 29
## **ANNEX A – COMMITTEE MEMBERSHIP**
1. **Council of Trustees.** The appointed officers and members of the Council during the report period were:
Colonel A Brown President Vacant (covered pro-tem by President) Hon Secretary Colonel AJ Ward Chair Membership Captain PN Hawkins AGC(SPS) Chair Welfare Lieutenant Colonel RA Rosenhead MBE FCG Hon Treasurer (Jan to Oct 25) Lieutenant Colonel MMT Burton-Doe FCMA CGMA Hon Treasurer (Oct 25 onwards) Lieutenant Colonel MJR Cotton MBE Mr KP Lea – from 10 Dec 25 Lieutenant Colonel AM McTaggart FCMA CGMA Mr SW Roden – resigned 30 Jun 25 Colonel DJ Rutherford FCMA CGMA Colonel SR Allen MBE ADC ex-Officio, as Corps Colonel AGC
2. **Standing Committees.** The rules of the RAPC Regimental Association provide for the creation of 3 standing committees responsible to the Council for the management of the charities’ affairs and the attainment of the objects. The Council has appointed at least one Trustee to each committee to act as Chairman of that committee and to be responsible for reporting its proceedings to the Council. The standing Committees of the RAPC Regimental Association, their membership and responsibilities are covered in the following paragraphs.
3. **Finance Committee.** The purpose of the Finance Committee is: to recommend the investment policy to be followed by the Council; to monitor the performance of funds invested on behalf of the Association; oversight of the Association accounts; to create and maintain standard financial operating procedures; to maintain a risk register; to assist the Accountant in the performance of his duties; to appoint an independent examiner of the accounts. For this period the Finance Committee comprised:
Lieutenant Colonel RA Rosenhead MBE FCG (Chairman & Treasurer Jan to Oct 25) Lieutenant Colonel MMT Burton-Doe FCMA CGMA (Chairman & Treasurer Oct 25 to date) Mr Simon O’Brien ACMA CGMA (from Oct 25) Mr Anthony Power ACMA CGMA (from Oct 25)
In attendance as required: Mr JW Drake (until 1 Sep 25), Col WR Walker (from 1 Sep 25) and Mr R Sorsbie
4. **Welfare Committee.** The purpose of the Welfare Committee is to consider and action all requests for welfare assistance received by the Association; to oversee all benevolent activities carried out by the Association, including the maintenance of RAPC links with other benevolent institutions such as the Royal Hospital, Chelsea. The Welfare Committee comprises:
Captain PN Hawkins (Chairman xxx to Dec 25) Lieutenant Colonel MJR Cotton MBE Lieutenant Colonel SM Gleed Major SJP James Mr KP Lea Colonel DB McCulloch
19 of 29
Mr DC McKirdy Lieutenant Colonel AM McTaggart FCMA, CGMA Mr JA Pinhorn Mr SW Roden Mr JH Sale In attendance: Mr JW Drake (until 1 Sep 25), thereafter Col WR Walker.
5. **Membership Committee.** The Membership Committee is responsible for the efficient delivery of membership services, communication and social activities. It comprises:
Colonel A J Ward (Chairman)
And the following Branch Chairmen:
Mr B Atkinson (RAPC Old Boys Tyne & Wear) (retired Jun 25) Mr RA Bonwick (North Wales / Chester) Mr AP Bray (South Coast) Mr DJ Cole (Cardiff & S. Wales) Mr DM Dyson (Tees Valley) Captain T Edgar (Yorkshire) Mr D Evans (Gloucester) Lieutenant Colonel AR Fairclough (Apprentices) Major WA Forsyth (Worthy Down/Winchester) Captain W Forsyth (Scotland) Mr MJ Ganly (London) Lieutenant Colonel MJA Lemon (Kent) Mr C Martin (Fide et Fiducia Dining Club) Mr JD Purvey (Peterborough) Maj JT Unsworth (Tyne and Wear)
Sports Representatives **:**
Lieutenant Colonel I Pendlebery (Golf) Mr DM Stokoe (Golf)
Battlefield Tour:
Mr AJ Birchall
Website & IT:
Major PF Bamforth Major JD Caswell
In attendance:
Mr JW Drake (until 1 Sep 25), thereafter Col WR Walker.
6. **Contractors** The Association employs 2 contractors, Mr JW Drake (until 1 Sep 25), thereafter Col WR Walker (Administration) and Mr Richard Sorsbie (Accountant).
20 of 29
## **ANNEX B – FINANCIAL ACCOUNTS AND INDEPENDENT EXAMINERS REPORT**
## **STATEMENT OF TRUSTEES’ RESPONSIBILITIES IN RESPECT OF THE ACCOUNTS**
1. The Trustees are responsible for preparing accounts for each financial year, which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing those accounts, the Trustees are required to:
- Select suitable accounting policies and then apply them consistently
- Observe the methods and principles in the Charities SORP
- Make judgements and estimates that are reasonable and prudent
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements
- Prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue
2. The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They 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.
3. Insofar as the trustees are aware:
- there is no relevant audit information of which the charity’s auditor is unaware; and
- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
4. The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
21 of 29
## **INDEPENDENT EXAMINER’S REPORT TO THE RAPC REGIMENTAL ASSOCIATION FOR THE YEAR ENDING 31 DECEMBER 2025**
I report to the charity trustees on my examination of the charity’s accounts for the year ended 31 December 2025
## **Responsibilities and basis of report**
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust’s accounts carried out under s. 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under s. 145(5)(b) of the Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in in any material respect
Jo Killip FCMA CGMA
Dated:………………
22 of 29
## **Statement of Financial Activities Income and Expenditure Account as at 31 December 2025**
|Notes
**Incoming Resources**
Resources from generated funds
Voluntary income
2(a)
Activities for generating funds
2(b)
Income from investments
2(c)
Income from charitable activities
2 (d)
**Total incoming resources**
**Resources Expended**
Cost of generating funds
Membership and Social Activity
3(a)
Remembrance and Benevolence
3(b)
Welfare Activities
3(c)
Communication Costs
3 (d)
Governance and Other Costs
3 ( e )
**Total Resources Expended**
**Net Incoming/(Outgoing) Resources**
**Other Recognised Gains and Losses**
Gain on Investments
**Movement between Control Acs**
**Transfer between Funds**
8
**Net Movement of Funds**
**Balances Brought Forward**
**Balances Carried Forward**|**Total Funds**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Endowment**
**Funds**
**Yr Ended**
**31/12/25**
**Yr Ended**
**31/12/24**
**£**
**£**
**£**
**£**
**£**
80,629
80,629
17,225
180
180
797
30,606
2,342
32,948
32,864
21,111
21,111
227,904|
|---|---|
||132,526
2,342
134,868
278,790|
||41,275
295
41,570
38,024
5,081
5,081
6,983
14,907
14,907
5,967
12,827
12,827
9,963
52,130
52,130
53,641|
||126,220
295
**0**
126,515
114,578|
||6,306
26,207
(2,644)
2,342
(295)
(2,113)
2,342
2,482
8,353
28,689
(4,757)
2,342
164,212
95,460|
||32,211
(2,408)
4,824
34,627
259,672
1,299,765
3,956
93,758
1,397,479
1,137,807|
||1,331,976
1,548
98,582
1,432,106
1,397,479|
All the above amounts relate to continuing activities.
There were no recognised gains or losses other than the net movement of funds for the financial periods shown above.
The notes on pages 27 to 31 form part of these financial statements.
23 of 29
## **Balance Sheet as at 31 December 2025**
|Notes
**Fixed Assets**
Investments
4
**Current Assets**
Debtors
5
Cash at bank and in Hand
**Creditors:**amounts becoming due
and payable within one year
6
**Net Current Assets**
**Total assets**
Funds
Unrestricted Funds
7
Restricted
8
Endowment
8|**31.12.25**
**£**
**£**
1,411,986
1,411,986
102
26,145
26,247
6,127
6,127
20,120
1,432,106
1,331,976
1,548
98,582
1,432,106|**31.12.25**
**£**
**£**
1,411,986
1,411,986
102
26,145
26,247
6,127
6,127
20,120
1,432,106
1,331,976
1,548
98,582
1,432,106|**31.12.24**
**£**
**£**
1,165,955
1,165,955
63,667
170,447
234,114
2,590
2,590
231,524
1,397,479
1,299,765
3,956
93,758
1,397,479|**31.12.24**
**£**
**£**
1,165,955
1,165,955
63,667
170,447
234,114
2,590
2,590
231,524
1,397,479
1,299,765
3,956
93,758
1,397,479|
|---|---|---|---|---|
||26,247
6,127||234,114
2,590||
||6,127||2,590||
|||1,432,106||1,397,479|
|||1,331,976
1,548
98,582||1,299,765
3,956
93,758|
|||1,432,106||1,397,479|
The notes on pages 27 to 31 form part of these financial statements. The financial statements were approved by the
Trustees on: _______________________________
24 of 29
## **Notes to the financial statements as at 31 December 2025**
1. **Accounting Convention – Basis of Preparation. T** he financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the UK and Republic of Ireland (FRS 102) – (Charities SORP FRS 102). The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006/Charities Act 2011.
2. **Funds.** Unrestricted funds represent the General and Designated funds of the Association that are not subject to any restriction regarding their use and are available for application on the general purposes of the Association. Restricted funds are those which are subject to a specific restriction as to their use, imposed by the donors. The Endowment Fund represents the former RAPC Charitable Fund which was transferred to the Association in 1992. This permanently endowed fund came with the stipulation that the income was to be spent exclusively for welfare payments with the capital remaining untouched.
3. **Income** . All incoming resources are included in the statement of financial activities when the charity is entitled to income, and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
a. Voluntary income is received by way of grants, donations and gifts and is included in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
b. Donated goods and services and facilities are included at the value to the charity where it can be quantified. The value of services provided by volunteers has not been included.
4. **Resources Expended** . Expenditure is recognised on an accrual basis as a liability is incurred. Some items of expenditure include VAT which cannot be recovered, and the VAT is reported as part of the expenditure to which it relates. Cost of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
5. **Trustee Note.** No Trustee was remunerated but reimbursement of reasonable travel expenses in connection with Association’s business was permitted in accordance with the Association’s rules for travel and subsistence.
6. **Related Party Transactions** . Where a Trustee attended an event, they individually paid for their attendance in full.
7. **Reserves Policy** . Due to the unique nature of the Association, the charity is on drawdown to support membership, welfare and social activities. The longevity of the charity continues to be reviewed annually, along with the reserves policy.
8. **Going concern** . The accounts have been produced on the basis that the Association is a going
concern
25 of 29
## 2 **Incoming resources**
|||**Unrestricted**|**Restricted**|**Endowment**||**Total Funds**|**Total Funds**|
|---|---|---|---|---|---|---|---|
|||**Funds**|**Funds**|**Funds**||**Year ended**|**Year ended**|
|||||**31**|**December 2025 31 December 2024**|||
|||**£**|**£**|**£**||**£**|**£**|
|**(a)**|**Voluntary income**|||||||
||Donations from Members|12,483||||12,483|14,303|
||Gift Aid Recovered on Donations|1,854||||1,854|2,922|
||Legacy Income|66,292||||66,292|0|
|||80,629||||80,629|17,225|
|**(b)**|**Activities for generating funds**|||||||
||**and Other Income**|||||||
||Stock Sales|180||||180|797|
||Return of Grants|0||||0||
|||180|0||0|180|797|
|**(c)**||||||||
||**Income from investments**|||||||
||Investment income|30,606|0|
2,342||32,948|32,864|
|||30,606|0|
2,342||32,948|32,864|
|**(d)**||||||||
||**Income from charitable activities**|||||||
||NMA Dedication Event Fund|1,429||||1,429|566|
||RAPC Sunday|2,465||||2,465|0|
||Battlefield Tour Fund|12,194||||12,194|11,212|
||Annual Dinner|3,110||||3,110|1,828|
||Apprentice College Intake Reunion|
1,456||||1,456|1,420|
||Autumn Function|0||||0|760|
||Summer Party|0||||0|334|
||Sale of Victoria Cross|0||||0|211,500|
||Easy Funding|367||||367|284|
||Belton Wood|90||||90|0|
|||21,111|||0|21,111|227,904|
26 of 29
## 3 **Outgoing resources**
|**Unrestricted**
**funds**
**£**
**(a) Membership and Social Activities**
Grants
Autumn Function
8,506
0
Summer Party
0
Annual Dinner and Reunion
3,668
Battlefield Tour
12,784
Belton Woods Annual Dinner
2,598
Apprentice Reunions
4,677
Officer's Dinner Club
0
NMA Dedicated Event
4,300
Brig B Fullerton Memorial
0
RAPC Sunday
3,807
Pop Up Events
925
41,275
**(b) Remembrance, Commemorative & Benevolent**
Flowers and Funeral Donations
4956
Christmas and Birthday Gifts for In-Pensioners
125
Field of Remembrance & Remembrance Sunday
NMA Lion - Memorial
5,081
**(c) Welfare Activities**
Individual Welfare Grants
14,907
14,907
**(d) Communicaton costs**
Primrose and Blue
9,515
Information System
3,088
Presentation
224
12,827
**(e) Governance and Other Costs**
Insurance
357
Trustee and Committee meetings
1,166
Administration
38,278
Travel Claims
2,281
Professional Fees
Bank Charges
(97)
Scanning/Digital Archives
Stationery
158
Stock Purchase for Re-sale
Storage, Repairs and Other Supplies
539
IT Backup and User Licences
47
Other Printing Costs
900
Postage
Subscription Accounting Package
1,614
300
Independent Examiner's Fees
Consultant Finance Manager
1,000
5,587
52,130|**Restricted**
**funds**
**£**
160
135|**Endowment**
**funds**
**Year**
**31 Dec**
**2025**
**£**
**£**
8,506
0
0
3,668
12,784
2,598
4,677
160
4,300
135
3,807
925
0
41,570
4,956
125
0
0
0
5,081
14,907
0
14,907
9,515
3,088
224
0
12,827
357
1,166
38,278
2,281
(97)
158
539
47
900
1,614
300
1,000
5,587
0
52,130|**Endowment**
**funds**
**Year**
**31 Dec**
**2025**
**£**
**£**
8,506
0
0
3,668
12,784
2,598
4,677
160
4,300
135
3,807
925
0
41,570
4,956
125
0
0
0
5,081
14,907
0
14,907
9,515
3,088
224
0
12,827
357
1,166
38,278
2,281
(97)
158
539
47
900
1,614
300
1,000
5,587
0
52,130|**ended**
**31 Dec 2024**
**£**
8,950
3,887
611
2,542
15,456
2,698
675
260
2,831
114
0
0|
|---|---|---|---|---|
||295|||38,024|
||0
0
0
0|||6,983
0
0
0|
|||||6,983|
|||||5,967|
|||||5,967|
|||||5,971
3,992
0|
|||||9,963|
|||||405
350
37,982
2,773
(2,000)
98
2,143
736
510
564
40
624
3,603
225
850
4,738
53,641|
||||52,130||
27 of 29
## 4 **Investments**
|Market value at beginning of period
Cash Invested
Cash Withdrawn
Investment income
Unrealised gain in the period
Market value at end of period
nvestments comprising more than 5% of the portfolio were as
Sarasin & Partner - RAPC1-5
**Unrestricted**
Sarasin & Partner - Endowed
**Endowment**|**Unrestricted**
1,072,197
265,000
(80,606)
30,606
26,207
1,313,404
follows:|**Endowment**
93,758
0
2,342
2,482
98,582
**%**
93%
7%|**Total**
1,165,955
265,000
(80,606)
32,948
28,689
1,411,986
**£**
1,313,404
98,582|
|---|---|---|---|
||||1,411,986|
## 5 **Debtors**
|Prepayments
Other debtors|2025
£
102
0
102|2024
£
167
63,500|
|---|---|---|
|||63,667|
## **6 Creditors**
|**tors**|||
|---|---|---|
|Accruals and other creditors
Control Accounts|2025
£
1,370
4,757
6,127|2024
£
2,590
0|
|||2,590|
## 7 **Analysis of funds**
|Investments
Current assets
Total liabilities|**Unrestricted**
**Funds**
**£**
1,313,404
24,699
(6,127)
1,331,976|**Restricted**
**Funds**
**£**
1,548
1,548|**Endowment**
**Funds**
98,582
98,582|**Total**
**2025**
**£**
1,411,986
26,247
(6,127)
1,432,106|**Total**
**2024**
**£**
1,165,955
234,114
(2,590)|
|---|---|---|---|---|---|
||||||1,397,479|
28 of 29
## 8 **Restricted funds**
|Officers' Dinner Club
Annual Dinner
Brig B Fullerton Memorial
NMA Memorial Fund (see below)
NMA Dedication Event
Apprentice College Reunion
Autumn Function
Worthy Down Function
Belton Wood Annual Dinner
Endowment funds
RAPC Charitable Fund
**RAPC Charitable Fund**
Fund brought forward 1 January 2025
Investment income
Unrealised gain/(loss) on investments
Fund carried forward 31 December 2025|**At**
**1 January**
**2025**
**£**
815
808
1,028
0
(135)
1,440
0
0
0|**Incoming**
**resources**
**£**
**Outgoing**
**resources**
**£**
**Transfers**
**from/(to)**
**Unrestricted**
**£**
**At**
**31 December**
**2025**
**£**
(160)
655
**(808)**
(135)
893
0
0
135
(1,440)
0
0
0
~~0~~
(295)
(2113)
1548|**Incoming**
**resources**
**£**
**Outgoing**
**resources**
**£**
**Transfers**
**from/(to)**
**Unrestricted**
**£**
**At**
**31 December**
**2025**
**£**
(160)
655
**(808)**
(135)
893
0
0
135
(1,440)
0
0
0
~~0~~
(295)
(2113)
1548|
|---|---|---|---|
|||||
||3,956||1548|
|||||
||93,758|4,824
**£**
93,758
2,342
2,482
98,582|98,582|
|||||
||**£**
2,482|||
|||||
## 9 **Controlling interest**
The trustees consider no entity to have a controlling interest in the charity.
The Royal Army Pay Corps Regimental Association was first registered as a charity on 5 December 1975.
29 of 29