| ontents | Page |
| ReferenceandAdministrative lnformation | 1 |
| Reportofthe Trustees | 2-7 |
| lndependent Auditor's Report | 8-9 |
| Statement of Financial Activities | 10 |
| Balance Sheet | 11 |
| Statement of Cash Flows | 12 |
| Notes tothe Financial Statements | 13-21 |
| REFERENCE AND ADMI | NISTRATIVE INFORMATION | |
|---|---|---|
| Registeredname: | The Royal Corps of Signals BenevolentFund | to16January 2020 |
| The Royal Signals Charity | from16January2020 | |
| Charityregistrationnumber:284923 | ||
| Addressoftheprincipal | office:Regimental Headquarters Royal Signals | |
| Griffin House, Blandford Camp | ||
| Blandford Forum,Dorset,DT11 8RH | ||
| Trustees | Corporate Trustee: | |
| The Royal Signals Trustee Limited(RSTL) | ||
| Acting as Directors of RSTL, asifTrustees: | ||
| MajorGeneralTGlnshawCB | ||
| MajorGeneralJStokoe CBCBE | ||
| BrigadierRJCarter | ||
| Colonel EAByfield | ||
| Lieutenant Colonel JM PictonQC | ||
| Warrant Officer2ALM Jarman | ||
| appointed: | ||
| MajorGeneralDMcDowallCBE | from14March 2020 | |
| BrigadierEMFlint | from 24 September 2020 | |
| BrigadierTJPWattsOBE | from 25 March 2020 | |
| Colonel MC Brookes ADC | from6November 2020 | |
| Warrant Officer 2 MC Fitton | from1June 2020 | |
| retired: | ||
| BrigadierDAHargreaves | to14March 2020 | |
| BrigadierJEThomas MBE | to3'1March 2020 | |
| ColonelJSGunning ADC | to 6 November 2020 | |
| Captain CEPagan | to22April2O20 | |
| Secretary | ColonelDACraft | |
| lndependentAuditor | Crowe U.K.LLP | |
| Carrick House, Lypiatt Road | ||
| Cheltenham,Gloucestershire,GL502QJ | ||
| Bankers | Lloyds Bankplc,CoxandKingsBranch | |
| 39 Piccadilly, London,W1V0AA | ||
| CCLA lnvestment ManagementLimited | ||
| 85QueenVictoriaStreet,London,EC4V | 4ET | |
| Solicitors | Wilsons Solicitors LLP | |
| Alexandra House,StJohnsStreet | ||
| Salisbury, Wiltshire,SPI2SB | ||
| lnvestmentAdvisers | Alvarium lnvestment Advisors (UK)Limited | |
| 10Old Burlington Street, London, W1S3AG | ||
| lnvestmentManagers | BlackRock lnvestment Management (UK)Limited | |
| 12ThrogmortonAvenue,London,EC2N2DL | ||
| Troy Asset Management Limited | ||
| 33 Davies Street, London, W1K 4BP |
formerly:-THE ROYAL CORPS OF SIGNALS BENEVOLENT FUND
THE ROYAL SIGNALS CHARITY
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011, and report in accordance with the Acts and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non compliance with laws and regulations are set out below.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Extent to which the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.
We obtained an understanding of the legal and regulatory frameworks within which the Charity operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Charities Act 2011, together with the Charities SORP (FRS102) 2019. We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the Charity's ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the Charity for fraud.
Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.
We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the recognition of income from donations and legacies, and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management and the Trustees about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence including that with the Charity Commission, and reading minutes of meetings of those charged with governance.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
Use of our report
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the Charity's Trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Crowe U.K. LLP, Statutory Auditor Carrick House, Lypiatt Road Cheltenham, GL50 2QJ
23 April 2021
Crowe U .K. LLP is eligible for appointment as auditor of the Charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
Page 9
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| Note | 2020 | 2019 | |
|---|---|---|---|
| g | € | ||
| FIXED ASSETS | |||
| TangibleFixedAssets | 7 | 716,523 | 767,641 |
| Listed lnvestments | 8 | 10,898,535 | 10,697,860 |
| '11,615,058 | 11,465,501 | ||
| CURRENT ASSETS | |||
| Stock of Goods for Resale | 74,036 | ||
| Debtors | I | 265,279 | 331,582 |
| Cash at Bank and in Hand | 416,736 | 146,906 | |
| 756,051 | 478,488 | ||
| CREDITORS:amountsfallingduewithinone year | 10 | (468,127) | (322,549| |
| NET CURRENT ASSETS | 287,924 | 155,939 | |
| Provision for Liabilities and Charges | 11 | (81,375) | (66,269) |
| NET ASSETS | 11,821,607 | 11,555,171 | |
| FUNDS | |||
| Unrestricted: | |||
| Designated Funds | 109,012 | 116,511 | |
| General Funds | 3,857,134 | 3,912,479 | |
| 13 | 3,966,146 | 4,028,990 | |
| Restricted Funds | 12 | 7,855,461 | 7,526,181 |
| 11,821,607 | 11,555,171 |
| 2020 | 2019 | |
|---|---|---|
| € | € | |
| Operatingactivities | ||
| Netincome/(expenditure) forthereportingperiod | 266,436 | 952,989 |
| Adjustmentsfor: | ||
| Depreciation charges | '14,180 | 24,722 |
| Loss/(Gain) on disposal of fixed assets | 25,907 | (12,7e8) |
| Dividends and interest from investments | (274,110) | (295,660) |
| (Gains)/Losses on investments | (582,664) | (1,233,246) |
| (lncrease)/Decreaseinstock of goods for resale | (74,036) | |
| Decrease/(lncrease)indebtors | 66,303 | (188,312) |
| lncreaseincreditors and provisions | 160,684 | 13,485 |
| Net cash used in operatingactivities | (3e7,300) | (738,820) |
| Cashflows frominvestingactivities | ||
| lnterest and dividends | 274,110 | 295,660 |
| Accumulating dividends | (21,109) | (35,027) |
| Cash from investment income | 253,001 | 260,633 |
| Purchaseoffixed assets | (62,556) | (14,364) |
| Proceedsofdisposaloffixed assets | 73,587 | 36,932 |
| Purchaseofinvestments | ||
| Proceeds from sale of investments | 403,098 | 419,800 |
| Net cash providedbyinvesting activities | 667 130 | 703,001 |
| Change in cash and cashequivalentsintheyear | 269,830 | (35,81e) |
| Cash and cash equivalents brought fonvard | 146,906 | 182,725 |
| Cash and cash equivalents carriedforward | ____116,?39_ | 146,906 |
| estimates where necessary. Apart from depreciation, there arenoite judgements and estimations have beenmade. |
msinthe financial stateme | nts where significan |
|---|---|---|
| 2.INCOMEFROM DONATIONS AND LEGACIES | 2020 | 2019 |
| E | t | |
| Unrestricted Funds | ||
| Proceeds fromtheclosureofthe Motorcycle Display Team | 68,385 | |
| Subscriptions-One Day'sPay | 296,671 | 296,1'10 |
| Legacies | 19,085 | 62,701 |
| 384,141 | 358,811 | |
| Restricted Funds | ||
| Donations | 68,385 | 54,969 |
| Subscriptions-One Day'sPay | 406,813 | 403,704 |
| Subscriptions-Retired Officers | 5,810 | 5,580 |
| Legacies | 19,085 | |
| 500,093 | 464,253 | |
| Total Funds | ||
| Donations | 136,770 | 54,969 |
| Subscriptions-One Day'sPay | 703,484 | 699,814 |
| Subscriptions-Retired Officers | 5,810 | 5,580 |
| Legacies | 38,170 | 62,701 |
| 884,234 | 823,064 |
| 3. INCOME FROM INVESTMENTS | 2020 | 2019 |
|---|---|---|
| E | e | |
| Unrestricted Funds | ||
| Gross Dividends | 97,941 | 106,668 |
| lnterest on Deposit Accounts | 35 | 21 |
| _____92E9_ | 106,689 | |
| Restricted Funds | ||
| Gross Dividends | 176,074 | 188,935 |
| lnterest on Deposit Accounts | 60 | 36 |
| 176.134 | 188,971 | |
| Total Funds | ||
| Gross Dividends | 274,015 | 295,603 |
| lnterest on Deposit Accounts | 95 | 57 |
| 274,110 | 295,660 | |
| 4. INCOME FROM CHARITABLE ACTIVITIES | 2020 | 2019 |
| € | e | |
| Unrestricted Funds | ||
| RSIJournal Advertisements | 3,600 | 4,125 |
| RSYCCharter lncome | 3,497 | 19,578 |
| RSYC ProfitonYacht Disposal | 12,798 | |
| 7.097 | 36,501 | |
| Restricted | ||
| Grants from Other Organisations | 44,035 | 64J92 |
| Disposal of Redundant CorpsSilvenruare | 8,550 | |
| RSI Events and Advertisements | 11,410 | 71,979 |
| Officers' Dinner Club | 30,323 | |
| WireMagazine subscriptions | 10,190 | 10,403 |
| Reunions | 875 | |
| 74,185 | 177.772 | |
| Total Funds | 81,282 | 214,273 |
| 5. EXPENDITURE ON CHARITABLE ACTIVITIES | 2020 | 2019 |
| t | € | |
| Unrestricted Funds | ||
| Grants Payable and Expenditure | ||
| Sporting | 112,374 | 130,068 |
| Sailing | 40,66'l | 52,528 |
| Adventure Training | 123,693 | 62,666 |
| Messes, Heritage and History | 1'10,000 | 110,000 |
| Other Assistance to the serving Corps | 70,261 | 35,838 |
| Bands | 14,532 | 13,320 |
| Events and Activities | ||
| Corps Property maintenance and control | 14,385 | 14,035 |
| RSIevents, awards and magazine | 40,726 | 39,818 |
| WireMagazine | 42,567 | 41,716 |
| Reunions and other costs | 28,154 | |
| Support and Shared costs | ||
| Corps Activities | 57,512 | 63,841 |
| Governance | 19,155 | 18,740 |
| 674,020 | 582,570 |
| NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDE | D 31 DECEMBER2O2O | |
|---|---|---|
| 5. EXPENDITURE ON CHARITABLE ACTIVITIES(continued) | 2020 | 2019 |
| E | g | |
| Restricted Funds | ||
| Grants Payable and Expenditure | ||
| Welfare | 339,647 | 411,138 |
| Sporting | 34,035 | 47,514 |
| Sailing | 12,178 | |
| Adventure Training | 7,500 | |
| Messes, Heritage and History | 113,262 | 171,639 |
| Other Assistance to the serving Corps | 22,439 | 19,992 |
| Events and Activities | ||
| Corps Property maintenance and control | 15,551 | 14,016 |
| RSI events, awards and magazine | 67,932 | 94,342 |
| Officers' Dinner Club | 99 | 47,911 |
| WireMagazine | 10,190 | 10,403 |
| Reunions and other costs | 70,216 | 81,659 |
| Support and Shared costs | ||
| Welfare | 20,726 | 22,232 |
| Veterans | 27,635 | 29,643 |
| Officer Activities | 34,544 | 37,053 |
| Governance | 28,730 | 28,111 |
| 792,506 | 1,027,831 | |
| Total Funds | ||
| Grants Payable and Expenditure | ||
| Welfare | 339,647 | 411,138 |
| Sporting | 146,409 | 177,582 |
| Sailing | 40,661 | 64,706 |
| Adventure Training | 131,193 | 62,666 |
| Messes, Heritage and History | 223,262 | 281,639 |
| Other Assistance to the serving Corps | 92,700 | 55,830 |
| Bands and DisplayTeam | 14,532 | 13,320 |
| Events and Activities | ||
| Corps Property maintenance and control | 29,936 | 28,05't |
| RSI events, awards and magazine | 108,658 | 134,160 |
| Officers' Dinner Club | 99 | 47,911 |
| WireMagazine | 52,757 | 52,119 |
| Reunions and other costs | 98,370 | 81,659 |
| Support and Shared costs | ||
| Welfare | 20,726 | 22,232 |
| Veterans | 27,635 | 29,643 |
| Corps andOfficerActivities | 92,056 | 100,894 |
| Governance | 47,885 | 46,851 |
| J166,526_ | 1,610,401 |
| The Royal Signals lnstitution (RSl)fostersprofessional developm andtheirclose colleagues in Defenceandlndustry. |
ent amongst the serving Corps, | the retired Corps |
|---|---|---|
| WelfareGrantsincludes payments to other charitiesforthe furtherance of the Charity's objectives: |
2020t | 2419 L |
| ArmyBenevolentFund | 35,000 | 35,000 |
| variousnursinghomeswith ex Royal Signals residents | 6,750 | 7,500 |
| !Lzu | 42,500 |
| EXPENDITURED | SCLOSURES | 2O2O e |
2019t |
| SharedSupportGosts | |||
| Unrestricted Funds | |||
| Accounts & Management Salaries Shared | 44,037 | 50,613 | |
| lT Support and Equipment Costs | 6,306 | 4,541 | |
| Postage | 839 | 632 | |
| Bank Charges | 1,180 | 391 | |
| Depreciation | 145 | 145 | |
| Total Shared Support Costs | 52,507 | 56,322 | |
| Direct Corps | Administration | 2,242 | 4,556 |
| 54.749 | 60,878 | ||
| Restricted Funds | |||
| Accounts & Management Salaries Shared | 71,849 | 82,578 | |
| lT Support and Equipment Costs | 10,289 | 7,408 | |
| Postage | 1,368 | 1,O32 | |
| Bank Charges | 1,925 | 637 | |
| Depreciation | 237 | 236 | |
| 85,668 | _9L99L | ||
| Total Funds | |||
| Accounts & Management Salaries Shared | 115,886 | '133,191 | |
| lT Support and Equipment Costs | 16,595 | 11,949 | |
| Postage | 2,207 | 1,664 | |
| Bank Charges | 3,105 | 1,028 | |
| Depreciation | 382 | 38'l | |
| Total Shared Support Costs | 138,175 | 148,213 | |
| Direct Corps | Administration | 2,242 | 4,556 |
| 17 | 152.769 | ||
| Attributedto: | Unrestricted Funds | ||
| CorpsFund | 54,749 | 60,878 | |
| Restricted Funds | |||
| Officers Fund | 41,452 | 44,463 | |
| Welfare | 8,290 | 8,892 | |
| Veterans | 35,926 | 38,536 | |
| _1!9.417 | 152.769 | ||
| Total Expenditure | included the following costs | ||
| Unrestricted Funds | |||
| StaffCosts | Wagesand Salaries | 72,704 | 78,747 |
| Social Security Costs | 7,912 | 8,384 | |
| Pension Scheme Costs | 2,624 | 2,363 | |
| 83.240 | |||
| DepreciationChargesforthe Year | 10,351 | 20,893 | |
| Restricted Funds | |||
| StaffCosts | Wagesand Salaries | 186,856 | 195,892 |
| Social Security Costs | 12,159 | 12,985 | |
| Pension Scheme Costs | 4,685 | 4,189 | |
| 203,700 | 213.066 | ||
| DepreciationChargesforthe Year | 3,829 | 3,829 | |
| Total Funds | |||
| StaffCosts | Wagesand Salaries | 259,560 | 274,639 |
| Social Security Costs | 20,071 | 21,369 | |
| Pension Scheme Costs | 7,309 | 6,552 | |
| 286.940 | 302,560 | ||
| DepreciationC | hargesforthe Year | 14,180 | 24,722 |
| The Charity benefits from staff costs, administration and bu contributing to espritdecorps.ltis not practical to quantifu |
ilding running costs paid forbytheMini such costs with any certainty. |
stry ofDefence, |
|---|---|---|
| 2020 | 2019 | |
| GovernanceCostsincluded the following | f | |
| UnrestrictedFunds | ||
| Audit | 6,240 | 6,300 |
| LegalFees | 3,040 | 1,834 |
| lnvestment Advice | 7,622 | 7,195 |
| Trustee Expenses | 1,394 | 2,330 |
| Trustee Meetings | 39 | 427 |
| Trustee Liability lnsurance | 820 | 654 |
| 19.155 | 18,740 | |
| Restricted Funds | ||
| Audit | 9,360 | 9,450 |
| LegalFees | 4,559 | 2,751 |
| lnvestment Advice | 11,432 | 10,793 |
| Trustee Expenses | 2,090 | 3,494 |
| Trustee Meetings | 59 | 641 |
| Trustee Liability lnsurance | 1,230 | 982 |
| 28.730 | 111 | |
| Total Funds | ||
| Audit | 15,600 | 15,750 |
| LegalFees | 7,599 | 4,585 |
| lnvestment Advice | 19,054 | 17,988 |
| Trustee Expenses | 3,484 | 5,824 |
| Trustee Meetings | 98 | 1,068 |
| Trustee Liability lnsurance | 2,050 | 1.636 |
| 47.885 | 46.851 |
| The Corps Accountant and R | SI Director are emp | loyeesoftheCharity ata | loyeesoftheCharity ata | total costof811 | 8,844 (2019 | :t118,848). |
|---|---|---|---|---|---|---|
| 7.TANGIBLEFIXEDASSETS 2020 |
HQ Officers Mess € |
HistoricRegimental Assets HQ te |
Yacht Club € |
Bands € |
Total t |
|
| Cost/Deemed cost | ||||||
| At1January 2020 | 360,000 | 309,173 | 4,864 | 180,825 | 31,933 | 886,795 |
| Additions | 59,702 | 2,854 | 62,s56 | |||
| Cost of Disposals | (111,167) | (21,7e8) | (132,e65) | |||
| At31December2O20 | 360,000 | 368,875 | 7,718 | 69,658 |
10,135 | 816,386 |
| Accumulated Depreciation | ||||||
| At'1January 2020 | 17,116 | 4,482 | 69,466 | 28,090 | 119,154 | |
| ChargeforYear | 3,600 | 382 | 8,677 | 1,521 | 14,180 | |
| Eliminated on Disposals | (11,673) | (21,798) | (33,471) | |||
| At31December2O20 | 20,716 | 4,8U | 66,470 | 7,813 | 99,863 | |
| NetBookValues | ||||||
| At31December2020 | 339,284 | 368,875 | 2,854 | 3,188 | 2,322 | 716,523 |
| At31December2019 | 342,884 | 309,173 | 382 | 111,359 | 3,843 | 767,641 |
| TANGIBLEFIXEDASSETS(c | ontinued) | |||||
|---|---|---|---|---|---|---|
| 2019 | HQ Officers Mess € |
HistoricRegimental Assets HQ et |
Yacht Club I |
Bands € |
Totalt | |
| Cost/Deemed cost | ||||||
| At1January2019 | 360,000 | 294,809 | 4,864 | 284,490 | 31,933 | 976,096 |
| Additions | 14,364 | 14,364 | ||||
| Cost of Disposals | (103,665) | (103,665) | ||||
| At 31 December20'19 | 9q0,000 | 309,173 | 4,864 | 180,825 | 3.1,933 | 886,795 |
| Accumulated Depreciation | ||||||
| At1January 2019 | 13,516 | 4,101 | 129,777 | 26,569 | 173,963 | |
| Charge for Year | 3,600 | 381 | 19,220 | 1,521 | 24,722 | |
| Eliminated on Disposals | (7e,531) | (7e,531) | ||||
| At31 December20'19 | 17,116 | 4,482 | 69,466 | 28,090 | 119,154 | |
| Net Book Values | ||||||
| At3'1December2019 | 342,884 | 309,173 | 382 | 111,359 | 3,843 | 767,641 |
| At31December2018 | 346.484 | 294.809 | 763 | 154,713 | 5.364 | 802,133 |
| s.INVESTMENTS-LISTED | 2020 t |
2019 f |
| MarketValueat1January | '10,697,860 | 9,849,387 |
| Additions | 21j09 | 35,O27 |
| Disposal Proceeds | (403,098) | (419,800) |
| Gains/(Losses)inyear | 582,664 | 1,233,246 |
| Market Value at 31 December | 10,898,535 | 10,697,860 |
| Historic Cost | 9,403,470 | 9,746,901 |
| Heldin:- | ||
| BlackRock, Armed Forces Charities Growth&lncomeFund | 7,359,226 | 7,263,084 |
| TroyAssetManagement, Trojan 'S' shares | ||
| AccumulationUnits | 3,539,309 | 3,434,776 |
| 10,898,535 | 10,697,860 | |
| 9. DEBTORS | 2020 | 2019 |
| s | t | |
| Subscriptions | 57,578 | 56,793 |
| Loans | 1,080 | 7,580 |
| Other Debtors | 191,768 | 36,616 |
| Prepayments | '14,853 | 230,593 |
| 265,279 | 331,582 |
| CREDITORS:amounts fallingduewithinone year | 2020 | 2019 |
| c | I | |
| Balance with Related Entities | 126,175 | 94,469 |
| Social Security and Other Taxes | 7,504 | 7,409 |
| Balances heldasAgent(see note15) | 48,913 | 101,494 |
| Other Creditors | 25,085 | 38,812 |
| Accruals | 20,270 | 24.570 |
| Defened lncomeandProvisions | ||
| Brought forwardfromprior year | 55,795 | 25,410 |
| Usedorrepaidinyear | (48,6e5) | (25,410) |
| Arisingintheyear | 233,080 | 55,795 |
| Carriedfonivard | 240,180 | 55,795 |
| 468,127 | 322,549 | |
| Deferred lncome arises when receipts relate to activities plannedfor thefuture. | ||
| PROVISIONS FORLIABILITIESAND CHARGES | 2020 | 2019 |
| L | e | |
| Employees' Retirement Provision | 81,375 | 66,269 |
| RESTRICTED FUNDS | lnvestment | ||||
| 1Januaryt | lncomeExpenditure e f |
(Losses)/ GainsS |
31 December e |
||
| 2020 | |||||
| Welfare&Veterans Fund | 4,915,990 | 456,388 | (476,618) | 267,751 | 5,163,5'11 |
| Officers' Activities Fund | 1,999,344 | 174,946 | (156,942) | 73,381 | 2,O90,729 |
| Sergeants'MessesFund | 173,967 | 56,181 | (92,325) | 9,475 | 147,298 |
| Disbanded Units-PRI Fund | 337,722 | 8,685 | (13,e43) | 18,467 | 350,931 |
| Disbanded Units-Officers MessesFund | 71,781 | 1,844 | (2,000) | 3,921 | 75,546 |
| Disbanded Units-Sergeants MessesFund | 27,377 | 662 | (2,000) | 1,407 | 27,446 |
| OtherCorpsActivitylncome receivedand | |||||
| expendedinyear for specific purposes | 51,725 | (51,725) | |||
| 7,526,181 | 750,431 | (795,553)374,402 | 7,855,461 | ||
| 2019 | |||||
| Welfare&Veterans Fund | 4,474,559 | 433,251 | (552,081) | 560,261 | 4,915,990 |
| Officers' Activities Fund | 1,829,160 | 256,483 | (235,032) | 148,733 | 1,999,344 |
| Sergeants'MessesFund | 232,064 | 59,156 | (146,310) | 29,057 | 173,967 |
| Disbanded Units-PRI Fund | 311,034 | 9,335 | (21,592) | 38,945 | 337,722 |
| Disbanded Units -OfficersMessesFund | 66,031 | 1,982 | (4,500) | 8,268 | 71,781 |
| Disbanded Units - Sergeants MessesFund | 23,699 | 711 | 2.967 | 27,377 | |
| Other CorpsActivitylncome receivedand | |||||
| expendedinyear for specific purposes | 70,095 | (70,095) | |||
| 6,936,547 | 831,013 (1,029,610)788,2317,526,181 |
| UNRESTRICTED FUNDS | 1Januaryt | Transfers Transactions €t |
31Decembert | |
| 2020 | ||||
| Designated Funds | ||||
| Yacht Club, vessel replacements and expeditions | 101 ,597 |
101,597 | ||
| Corps-Yacht Club Offshore Account | 7 ,549 |
(134) | 7,415 | |
| Other minor replacement Funds | 7 ,365 |
(7,365) | ||
| Total Designated Funds | 116,511 | (7,4ee) | 109,012 | |
| Corps-General Fund | 3,912,479 | 7,499 | (62,844) | 3,857,134 |
| 4.028.990 | (62,844)3,966,146 | |||
| 2019 | ||||
| Designated Funds | ||||
| Yacht Club, vessel replacements and expeditions | 10'1,597 | 01 ,597 |
||
| Corps-Yacht Club Offshore Account | 16,157 | (8,608) | 7 ,549 |
|
| Other minor replacement Funds | 7 365 | 7 ,365 |
||
| Total Designated Funds | 125,119 | (8,608) | 116,511 | |
| Corps - General Fund | 3,540,516 | 8,608 | 363,355 | 3,912,479 |
| 3,665.635 | 363,3554,028,990 |
| ALLOCATION OF NET ASSETS | Unrestricted t |
Restricted E |
Totalt |
|---|---|---|---|
| 2020 | |||
| TangibleFixedAssets | 52,913 | 663,610 | 716,523 |
| lnvestments | 3,706,684 | 7,191,851 | 10,898,535 |
| Current Assets less Current Liabilities and Provisions | 206,549 | 206,549 | |
| 3,966,146 | 7,855,461 | 11,821,607 | |
| 2019 | |||
| TangibleFixedAssets | 174,499 | 593,142 | 767,641 |
| lnvestments | 3,772,370 | 6,925,490 | 10,697,860 |
| Current Assets less Current Liabilities and Provisions | 82,121 | 7,549 | 89,670 |
| 4,028,990 | 7,526,181 | 11,555.171 |