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2022-12-31-accounts

ntents Page
ReferenceandAdministrativeInformation 4
ReportoftheTrustees 2-7
IndependentAuditor'sReport 8-9
StatementofFinancialActivities 10
BalanceSheet 11
StatementofCashFlows 12
NotestotheFinancialStatements 13-21

Solicitors WilsonsSolicitorsLLP
AlexandraHouse,StJohnsStreet
Salisbury,Wiltshire,SP12SB
InvestmentAdvisers AlvariumInvestmentAdvisors(UK)Limited
10OldBurlingtonStreet,London,W1S3AG
InvestmentManagers BlackRockInvestmentManagement(UK)Limited
12ThrogmortonAvenue,London,EC2N2DL
TroyAssetManagementLimited
33DaviesStreet,London,W1K4BP

2021 TotalFunds £ 821,076 20,561 260,065 206,099
1,307,801		 10,861 1,302,238
1,313,099		 (5,298) 1,130,857
1,125,559		 11,821,607
12,947,166
Restricted £ 472,393 170,550 188,337
831,280		 1,896 779,624
781,520		 49,760 741,620
791,380		 7,855,461
8,646,841
Unrestricted £ 348,683 20,561 89,515 17,762
476,521		 8,965 522,614
531,579		 (55,058) 389,237
334,179		 3,966,146
4,300,325
2022 Note
Unrestricted
Restricted
TotalFunds		 £
£
£		 INCOMEFROM Donationsandlegacies
351,045
468,560
819,605		 Othertradingactivities
547
547		 Investments
o
91,838
178,047
269,885		 Charitableactivities
135,340
231,218
366,558		 TOTALINCOME

578,770
877,825
1,456,595		 EXPENDITUREON Raisingfunds
40,536
4,498
45,034		 Charitableactivities
624,342
948,381
1,572,723		 TOTALEXPENDITURE

664,878
952,879
1,617,757		 Operatingsurplus/(deficit)
(86,108)
(75,054)
(161,162)		 Netgains/(losses)oninvestmentassets
(433,392)
(840,271)
(1,273,663)		 Transferbetweenfunds NETINCOME/(EXPENDITURE)AND
NETMOVEMENTINFUNDS

(519,500)
(915,325)
(1,434,825)		 Fundbalancesat1January
4,300,325
8,646,841
12,947,166		 FUNDBALANCESAT31DECEMBER

3,780,825
7,731,516
11,512,341		 Note13
Note12		 Allactivitiesintheyeararecontinuing. TheCharityhadnorecognisedgainsorlossesotherthanthoseincludedintheStatementofFinancialActivities. Thenotesonpages13to21formpartofthesefinancialstatements.
Note 2022 2021

£
£
FIXEDASSETS
TangibleFixedAssets ~ 726,308 714,079
ListedInvestments 10,769,615 12,035,519

11,495,923
12,749,598
CURRENTASSETS
StockofGoodsforResale - 37,309
Debtors 153,421 107,119
CashatBankandinHand 313,526 604,976

466,947
749,404
CREDITORS:amountsfailingduewithinoneyear 10 (355,733) (470,389)
NETCURRENTASSETS
111,214
279,015
ProvisionforLiabilitiesandCharges 11 (94,796) (81,447)
NETASSETS


11,512,341

12,947,166

FUNDS
Unrestricted:
DesignatedFunds 102,226 102,226
GeneralFunds 3,678,599 4,198,099
13
3,780,825
4,300,325
,
RestrictedFunds 12 7,731,516 8,646,841


11,512,341
12,947,166

2022 2021

£
£
Operatingactivities
Netincome/(deficit)forthereportingperiod (1,434,825) 1,125,559
Adjustmentsfor:
Depreciationcharges 5,771 8,892
(Gain)/Lossondisposaloffixedassets - (2,555)
Dividendsandinterestfrominvestments (269,885) (260,065)
(Gains)/Lossesoninvestments 1,273,663 (1,130,857)
Decreaseinstockofgoodsforresale 37,309 36,727
Decrease/(Increase)indebtors
Increase/(Decrease)increditorsandprovisions		 (46,302)
(101,307)		 158,160
2,334
Netcashusedinoperatingactivities

(535,576)

(61,805)
Cashflowsfrominvestingactivities
Interestanddividends 269,885 260,065
Accumulatingdividends (7,759) (6,127)
Cashfrominvestmentincome
262,126
253,938
Purchaseoffixedassets (18,000) (6,448)
Proceedsofdisposaloffixedassets - 2,555
Proceedsfromsaleofinvestments
Netcashprovidedbyinvestingactivities

244,126

250,045
Changeincashandcashequivalentsintheyear (291,450) 188,240
Cashandcashequivalentsbroughtforward 604,976 416,736
Cashandcashequivalentscarriedforward
313,526
604,976

INCOMEFROMDONATIONSANDLEGACIES 2022 2021
£ £
UnrestrictedFunds
Donations
Subscriptions-OneDay'sPay
Legacies		 37,359
313,419
267		 39,831
308,177
675
351,045 348,683
RestrictedFunds
Donations
Subscriptions-OneDay'sPay
Subscriptions-RetiredOfficers
Legacies		 37,357
425,793
5,143
267		 39,830
418,805
8,083
5,675


468,560 472,393
TotalFunds
Donations
Subscriptions-OneDay'sPay
Subscriptions-RetiredOfficers
Legacies		 74,716
739,212
5,143
534		 79,661
726,982
8,083
6,350

819,605 821,076
THEROYALSIGNALSCHARITY
NOTESTOTHEFINANCIALSTATEMENTSFORTHEYEAR ENDED31DECEMBER2022
3.INCOMEFROMINVESTMENTS 2022 2021
£ £
UnrestrictedFunds
GrossDividends 91,761 89,493
InterestonDepositAccounts 77 22
91,838 89,515
RestrictedFunds
GrossDividends 177,908 170,511
InterestonDepositAccounts 139 39
178,047 170,550
TotalFunds
GrossDividends 269,669 260,004
InterestonDepositAccounts 216 61
269,885 260,065
4.INCOMEFROMCHARITABLEACTIVITIES 2022 2021
£ £
UnrestrictedFunds
GrantsfromOtherOrganisations 123,360 -
RSIEventsandAdvertisements 11,980 15,207
RSYCCharterIncome
RSYCProfitonDisposals - 2,555
135,340 17,762
Restricted
GrantsfromOtherOrganisations 146,100 87,893
DisposalofRedundantCorpsSilverware 240 343
RSI!EventsandAdvertisements 76,029 94,097
WireMagazinesubscriptions 8,849 6,004
231,218 188,337
TotalFunds 366,558 206,099
5.EXPENDITUREONCHARITABLEACTIVITIES 2022 2021
£ £
UnrestrictedFunds
GrantsPayableandExpenditure
Sporting 147,239 107,768
Sailing 19,045 26,409
AdventureTraining 70,975 9,711
Messes,HeritageandHistory 125,000 110,024
OtherAssistancetotheservingCorps 64,557 58,648
Bands 8,141 11,365
EventsandActivities
CorpsPropertymaintenanceandcontrol 15,355 14,348
RSIevents,awardsandpublishing 40,892 50,517
WireMagazine 49,822 50,175
Reunionsandothercosts
SupportandSharedcosts
CorpsActivities 66,088 66,228
Governance 17,228 17,421
624,342 522,614

EXPENDITUREONCHARITABLEACTIVITIES(continued) 2022 2021
£ £
RestrictedFunds
GrantsPayableandExpenditure
Welfare
Sporting
Sailing
AdventureTraining
Messes,HeritageandHistory
OtherAssistancetotheservingCorps		 336,021
134,650
2,850
7,000
110,151
31,404		 285,068
78,000
7,393
-
62,085
16,897



EventsandActivities
CorpsPropertymaintenanceandcontrol
RSIevents,awardsandpublishing		 24,471
62,240		 20,592
130,208
Officers'Dinner&Social
WireMagazine
Reunionsandothercosts
SupportandSharedcosts		 15,213
8,849
93,755		 5,168
6,004
46,879

Welfare
Veterans
OfficerActivities
Governance		 23,984
31,978
39,973
25,842		 23,800
31,733
39,667
26,130


948,381 779,624
TotalFunds
GrantsPayableandExpenditure
Welfare
Sporting
Sailing
AdventureTraining
Messes,HeritageandHistory
OtherAssistancetotheservingCorps
BandsandDisplayTeam
EventsandActivities		 336,021
281,889
21,895
77,975
235,151
95,961
8,141		 285,068
185,768
33,802
9,711
172,109
75,545
11,365
CorpsPropertymaintenanceandcontrol
RSIevents,awardsandpublishing
Officers’Dinner&Social
WireMagazine
Reunionsandothercosts
SupportandSharedcosts		 39,826
103,132
15,213
58,671
93,755		 34,940
180,725
5,168
56,179
46,879
Welfare
Veterans
CorpsandOfficerActivities
Governance		 23,984
31,978
106,061
43,070		 23,800
31,733
105,895
43,551
1,572,723 1,302,238
1,572,723
1,302,238
Allwelfaregrantsaretothirdpartyorganisationsandmadeforthebenefitofbothservingandretiredmembersof
Corps(RegularsandReserves)andtheirfamilies.		 the
TheRoyalSignalsInstitution(RS!)fostersprofessionaldevelopmentamongsttheservingCorps,theretiredCorps
andtheirclosecolleaguesinDefenceandIndustry.
WelfareGrantsincludespaymentstoothercharitiesforthe
2022
2021
furtheranceoftheCharity'sobjectives:
£
£
ArmyBenevolentFund
35,000
35,000
variousnursinghomeswithexRoyalSignalsresidents
-
7,250
35,000
42,250

EXPENDITURE DI SCLOSURES 2022 2021
£
SharedSupport Costs
UnrestrictedFunds
Accounts &ManagementSalariesShared 52,968 49,970
1TSupport andEquipmentCosts 5,733 8,869
Postage 630 625
BankCharges 1,066 468
Depreciation 361 361
TotalSharedSupportCosts
DirectCorpsAdministration		 60,758
2,132		 60,293
2,761
____62,890_ 63,054
RestrictedFunds
Accounts &ManagementSalariesShared 86,421 81,529
ITSupport andEquipmentCosts 9,353 14,470
Postage 1,029 1,021
BankCharges 1,740 764
Depreciation 590 590
99,133 98,374
TotalFunds
Accounts&ManagementSalariesShared 139,389 131,499
ITSupport andEquipmentCosts 15,086 23,339
Postage 1,659 1,646
BankCharges 2,806 1,232
Depreciation 951 951
TotalShared SupportCosts 159,891 158,667
DirectCorpsAdministration 2,132 2,761
162,023 161,428
Attributedto: UnrestrictedFunds
CorpsFund 62,890 63,054
RestrictedFunds
OfficersFund 47,967 47,600
Welfare 9,593 9,520
Veterans 41,573 41,254
162,023 161,428
TotalExpenditure includedthefollowingcosts
UnrestrictedFunds
StaffCosts WagesandSalaries 84,600
SocialSecurityCosts 9,585 7,384
PensionSchemeCosts 2,836 2,738
___97,021_ __92,333_
DepreciationChargesfortheYear 1,600 4,721
RestrictedFunds
StaffCosts WagesandSalaries 208,013
SocialSecurityCosts 17,363 15,014
PensionSchemeCosts 6,189 5,076
231,565 213,708
Depreciation ChargesfortheYear 4,171 4,171
TotalFunds
StaffCosts WagesandSalaries 292,613
SocialSecurityCosts 26,948 22,398
PensionSchemeCosts 9,025 7,814
328,586 306,041
Depreciation ChargesfortheYear 5,771 8,892

TheCharitybenefitsfromstaff TheCharitybenefitsfromstaff costs,administrationand costs,administrationand buildingrunningcosts buildingrunningcosts buildingrunningcosts paid forby theMinistry ofDefence,
contributingtoespritdecorps. Itisnotpracticaltoquantifysuchcosts withany certainty.
2022 2021
GovernanceCostsincludedthe following £ £
UnrestrictedFunds
Audit 7,111 6,408
LegalFees - 911
InvestmentAdvice 7,822 8,418
TrusteeExpenses 1,149 590
TrusteeMeetings 520 190
TrusteeLiabilityInsurance 626 904
17,228 17,421
RestrictedFunds
Audit 10,667 9,612
LegalFees - 1,366
InvestmentAdvice 11,733 12,626
TrusteeExpenses 1,724 884
TrusteeMeetings 780 286
TrusteeLiabilityInsurance 938 1,356
25,842 26,130
TotalFunds
Audit 17,778 16,020
LegalFees - 2,277
InvestmentAdvice 19,555 21,044
TrusteeExpenses 2,873 1,474
TrusteeMeetings 1,300 476
TrusteeLiabilityInsurance 1,564 2,260
_____43,070_ 43,551
3
of		 Trustees(2021:2)receivedtheabovereimbursements
whichwerepaidtothirdparties.		 ofexpenses (travel,subsistence andaccommodation)non
Key Personnel
NoTrustee(2021:None)receivedanyremunerationorbenefitfrom theFundorany RelatedParties.
TheRegimentalSecretaryand theAssistantRegimental Secretary are employeesof theMinistryofDefence.
HonorariumswerepaidatatotalcosttotheCharityof£20,281(2021: £20,281).
TheCorpsAccountantandRSI DirectorareemployeesoftheCharity atatotal cost of£130,002(2021: £126,862).
7.TANGIBLEFIXEDASSETS HQOfficers Historic
Regimental
Mess Assets HQ
YachtClub		 Bands Total
2022 £ £ £ £ £ £
Cost /Deemedcost
At 1January2022 360,000 370,111
7,718
35,267		 15,347 788,443
Additions - 141,000
-		 - 7,000 18,000
CostofDisposals - - - - - -
At
31December2022
360,000
381,111

7,718

35,267

22,347
806,443

AccumulatedDepreciation
At 1January2022 24,316 - 5,815
35,267		 8,966 74,364
ChargeforYear 3,600 - 951 - 1,220 5,771
EliminatedonDisposals - - - - - -
At
31December2022
27,916
-
6,766

35,267

10,186
80,135
Net
BookValues
At 31December2022 332,084 381,111
952		 - 12,161 726,308
At 31December2021
 335,684
 370,111
1,903
-
 6,381
 714,079

HQOfficers Historic Regimental
Mess Assets HQ YachtClub Bands Total
2021 £ £ £ £ £ £
Cost/Deemedcost
At1January2021 360,000 368,875 7,718 69,658 10,135 816,386
Additions - 1,236 - - §,212 6,448
CostofDisposals - - - (34,391) ~ (34,391)
At31December2021
360,000
370,111
7,718
35,267
15,347
788,443
AccumulatedDepreciation
At1January2021 20,716 - 4,864 66,470 7,813 99,863
ChargeforYear 3,600 - 951 3,188 1,153 8,892
EliminatedonDisposals - - - (34,391) - (34,391)
At31December2021
24,316
-
5,815
35,267
8,966
74,364
NetBookValues
At31December2021 335,684 370,111 1,903 - 6,381 714,079

INVESTMENTS -LISTED 2022 2021
£ £
MarketValueat 1January 12,035,519 10,898,535
Additions 7,759 6,127
DisposalProceeds - -
(Losses)/Gains inyear (1,273,663) 1,130,857
MarketValueat 31December 10,769,615 12,035,519
HistoricCost 9,417,356 9,409,597
Heldin:-
BlackRock, ArmedForcesCharitiesGrowth&IncomeFund 6,932,890 8,056,585
TroyAsset Management,Trojan'S'shares
AccumulationUnits 3,836,725 3,978,934
10,769,615 12,035,519
DEBTORS 2022 2021
£ £
Subscriptions 61,588 60,016
Loans 1,002 1,080
OtherDebtors
Prepayments		 10,534
80,297		 10,009
36,014
153,421 107,119

10.CREDITORS:amountsfallingduewithinone year 2022 2021
£ £
BalancewithRelatedEntities
SocialSecurityandOtherTaxes		 105,335
8,737		 151,731
7,884
BalancesheldasAgent(seenote15)
OtherCreditors
Accruals		 60,619
43,457
22,478		 24,493
31,805
32,420
DeferredIncomeandProvisions
Broughtforwardfromprioryear
Usedorrepaidinyear

222,056
(218,452)




240,180
(90,445)
Arisingintheyear
Carriedforward
111,503
115,107


72,321
222,056
355,733 470,389
DeferredIncomeariseswhenreceiptsrelateto activities plannedforthe future.
11.PROVISIONSFORLIABILITIESANDCHARGES 2022 2021
£ £
Employees’RetirementProvision 94,796 81,447
Provisionfortheamountsduetoemployeesupontheirretirementinaccordancewith theiremploymentcontract.
12.RESTRICTEDFUNDS 1January Income Expenditure Investment
31		 December
2022
Welfare&VeteransFund
Officers’ActivitiesFund
Sergeants’MessesFund
DisbandedUnits-PRIFund
DisbandedUnits-OfficersMessesFund
DisbandedUnits-SergeantsMessesFund
OtherCorpsActivityIncomereceivedand		 £
5,722,537
2,262,793
173,601
371,948
85,090
30,871		 421,372
238,499
53,673
8,485
1,801
646		 £





 £
(489,631)
(178,675)
(90,282)
(40,943)
-
-
Gains
£
(605,497)
(164,770)
(18,370)
(40,073)
(8,508)
(3,053)		 £
5,048,781
2,157,847
118,622
299,417
78,383
28,464
expendedinyearforspecificpurposes - 153,349 (153,349) - -


2021
Welfare&VeteransFund
Officers’ActivitiesFund
Sergeants’MessesFund
DisbandedUnits-PRIFund
DisbandedUnits-OfficersMessesFund
DisbandedUnits-SergeantsMessesFund
OtherCorpsActivityIncomereceivedand

8,646,840
5,163,511
2,090,729
147,298
350,931
75,546
27,446









877,825
420,870
254,015
54,170
8,404
1,784
640









(952,880)
(397,621)
(225,410)
(43,149)
(23,943)
-
-

(840,271)
535,778
143,459
15,282
36,556
7,760
2,785








7,731,514
§,722,537
2,262,793
173,601
371,948
85,090
30,871
expendedinyearforspecificpurposes - 91,397 (91,397) - -

7,855,461

831,280

(781,520)
741,620
8,646,840
RestrictedFundsarisefromincomereceivedforspecifiedpurposesand are heldseparatelyuntilexpended.

UNRESTRICTEDFUNDS
1January
TransfersTransactions
31		 December
£ £ £ £
2022
DesignatedFunds
YachtClub,vesselreplacementsandexpeditions
101,597
-		 - 101,597
Corps-YachtClubOffshoreAccount

629

-
-
629
TotalDesignatedFunds

102,226

-
-
102,226
Corps-GeneralFund
4,198,099
-		 (519,500) 3,678,599

4,300,325

-
(519,500)
3,780,825
2021
DesignatedFunds
YachtClub,vesselreplacementsandexpeditions
101,597		 - - 101,597
Corps-YachtClubOffshoreAccount

7,415
(6,786)

-
629
TotalDesignatedFunds
Corps-GeneralFund

109,012
3,857,134
(6,786)
6,786

-

334,179

102,226
4,198,099

3,966,146
-
334,179

4,300,325

DesignatedFundsareUnrestrictedFundsthathavebeensetasideatthediscretionoftheTrustees.TheYachtClub
ExpeditionFundisanunexpendedgrantthathasbeenallowedtobecarriedforwardandtheYachtClubOffshore
Accountaccumulatedcharterfeesfortheuseoftheyachts,andisusedJoroffshoreracesandevents.
Thetransactionsofthe"Corps-GeneralFund"areasshownonpage10, Statementof FinancialActivities,
UnrestrictedFunds.
RELATEDPARTYTRANSACTIONS
TheCharityisrelatedtoTheRoya!SignalsMuseum(anincorporatedcharity)anditssubsidiaryThe
MuseumTradingCompanyLimitedduetotheirrelatedobjectivesandactivities.		 Royal Signals
IntheyeargrantsweremadetoTheRoyalSignalsMuseumof£125,000 (2021:£110,000).
AttheendoftheyearthedebtswithTheRoyalSignalsMuseumanditssubsidiarycompanyamountedto£105,335
payable(2021:£151,731payable).
AGENCYTRANSACTIONS
TheCharityactsasagentforactivitiesrelatedtoitsMoraleandEfficiency Objectives;thelargerfundsbeing:-
TheRoyalSignalsOfficersDomesticFundpurchaseswines,etcfortheHQOfficers’Messandmaintainsthewine
cellar,itsincomearisesfromtheconsumptionofwinesatspecialevents.
italsooperatesasecondhanduniformsales
andrentalfacility.At31December2022thebalanceheldamountedto£31,308(2021:£17,834).
TheRoyalSignalsRugbyClubsellsticketsfornationalrugbymatches(ArmyvNavyandArmyvRAF)andapplies
theprofitstoboostthefinancesoftheCorps’rugbyseason.
At31December2022thebalanceheldamountedto
£67,195(2021:£57,925),ofwhich£41,683washeldinaspecificbankaccount..
ALLOCATIONOFNETASSETS
Unrestricted		 Restricted
Total
2022
£		 £
£
TangibleFixedAssets
Investments
67,662
3,696,745		 658646
7,072,870		 726,308
10,769,615
CurrentAssetslessCurrentLiabilitiesandProvisions
16,418		 - 16,418

3,780,825
7,731,516
11,512,341
2021
TangibleFixedAssets
51,833		 662,246 714,079
Investments
4,050,924		 7,984,595 12,035,519
CurrentAssetslessCurrentLiabilitiesandProvisions
197,568		 - 197,568

4,300,325
8,646,841
12,947,166