2023-12-31-accounts

ntents	Page
ReferenceandAdministrativeInformation	1
ReportoftheTrustees	2-7
IndependentAuditor'sReport	8-9
StatementofFinancialActivities	10
BalanceSheet	11
StatementofCashFlows	12
NotestotheFinancialStatements	13-21

Registeredname:		TheRoyalSignalsCharity
Charityregistration	number:	284923
Principaloffice:		RegimentalHeadquartersRoyal Signals
		GriffinHouse,BlandfordCamp
		BlandfordForum,Dorset, DT118RH
Trustees	CorporateTrustee:
		TheRoyalSignalsTrusteeLimited(RSTL)
	Acting	asDirectorsofRSTL,asifTrustees:
		MajorGeneral DMcDowallCBE
		BrigadierEMFlint
		BrigadierTJPWattsOBE
		ColonelEAMortimore
		CaptainMCFitton
	appointed:
		MajorGeneralRJBSpencer	from28March2024
		ColonelNCBruceADC	from22March2023
		LieutenantColonelP Wright	from11January2023
		LieutenantColonelPBBrogan	from10January2024
		WarrantOfficer2 D Roserie	from11January2023
	retired:
		MajorGeneralTGInshawCB	to28March2024
		MajorGeneralJ StokoeCBCBE	to11January2023
		ColonelMCBrookesADC	to22March2023
		ColonelKJBruce-SmithTD	to10January2024
		StaffSergeantJMFatiaki	to11January2023
Secretary		ColonelDACraft
IndependentAuditor		CroweU.K.LLP
		StJamesHouse,StJamesSquare
		Cheltenham,Gloucestershire,GL503PR
Bankers		LloydsBankplc,CoxandKingsBranch
		POBox1000,BX11LT
		CCLAInvestmentManagementLimited
		1AngelLane,London,EC4R3AB
Solicitors		WilsonsSolicitorsLLP
		AlexandraHouse,StJohnsStreet
		Salisbury,Wiltshire,SP12SB
InvestmentAdvisers		AITiTiedemannGlobal
		Level5 NovaNorth,11BressendenPlace,	LondonSW1E5BY
		previousname:AlvariumInvestmentAdvisors(UK)Limited
		10OldBurlingtonStreet,London,W1S3AG
InvestmentManagers		BlackRockInvestmentManagement(Uk)	Limited
		12ThrogmortonAvenue,London,EC2N2DL
		TroyAssetManagementLimited
		33DaviesStreet,London,W1K4BP

THE ROYAL SIGNALS CHARITY

IND,EPENDENT AUDITOR'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

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). 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 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.

These inherent limitations are particularly significant in the case of misstatement resulting from fraud as this may involve sophisticated schemes designed to avoid detection, including deliberate failure to record transactions, collusion or the provision of intentional misrepresentations.

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.

Date: 24 September 2024

Crowe U.K. LLP, Statutory Auditor

St James House, St James Square, Cheltenham, GL50 3PR

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

2022	TotalFunds	£		819,605	547 269,885 366,558	1,456,595		45,034	1,572,723	1,617,757	(161,162)	(1,273,663)	(1,434,825)	12,947,166	11,512,341
	Restricted	£		468,560	- 178,047 231,218	877,825		4,498	948,381	952,879	(75,054)	(840,271)	(915,325)	8,646,841	7,731,516
	Unrestricted	£		351,045	547 91,838 135,340	578,770		40,536	624,342	664,878	(86,108)	(433,392)	(519,500)	4,300,325	3,780,825
2023	Note Unrestricted Restricted TotalFunds	£ £ £	INCOMEFROM	Donationsandlegacies 2 Othertradingactivities Investments 3 Charitableactivities 4 365,706 1,471 106,932 8,950 503,495 869,201 - 1,471 200,025 306,957 302,135 311,085		TOTALINCOME 483,059 1,005,655 1,488,714	EXPENDITUREON	Raisingfunds Charitableactivities 5 1,220 611,129 1,830 1,248,297 3,050 1,859,426		TOTALEXPENDITURE 612,349 1,250,127 1,862,476	Operatingsurplus/ (deficit) (129,290) (244,472) (373,762)	Netgains/ (losses)oninvestmentassets 8 60,388 112,960 173,348	NETINCOME/ (EXPENDITURE)AND NETMOVEMENTINFUNDS (68,902) (131,512) (200,414)	Fundbalancesat1 January 3,780,825 7,731,516 11,512,341	FUNDBALANCESAT31DECEMBER 3,711,923 7,600,004 11,311,927	Note13 Note12	Allactivitiesintheyeararecontinuing.	TheCharityhadnorecognisedgainsorlossesotherthanthoseincludedintheStatementofFinancialActivities.	Thenotesonpages13to21formpartofthesefinancialstatements.

	Note	2023	2022
		£	£
FIXEDASSETS
TangibleFixedAssets		729,931	726,308
ListedInvestments		10,812,843	10,769,615
		11,542,774	11,495,923
CURRENTASSETS
Debtors		116,419	153,421
CashatBankandinHand		44,603	313,526
		161,022	466,947
CREDITORS:amountsfallingduewithinoneyear	10	(282,618)	(355,733)
NETCURRENTASSETS		(121,596)	111,214
ProvisionforLiabilitiesandCharges	11	(109,251)	(94,796)
NETASSETS		11,311,927	11,512,341
FUNDS
Unrestricted:
DesignatedFunds		102,226	102,226
GeneralFunds		3,609,697	3,678,599
	13	3,711,923	3,780,825
RestrictedFunds	12	7,600,004	7,731,516
		11,311,927	11,512,341

	2023	2022
	£	£
Operatingactivities
Netincome/ (deficit)forthereportingperiod	(200,414)	(1,434,825)
Adjustmentsfor:
Depreciationcharges	6,822	5,771
Dividendsandinterestfrominvestments	(306,957)	(269,885)
(Gains)/ Lossesoninvestments	(173,348)	1,273,663
Decreaseinstockofgoodsforresale	-	37,309
Decrease/ (Increase)indebtors	37,002	(46,302)
Increase/ (Decrease)increditorsandprovisions	(58,660)	(101,307)
Netcashusedinoperatingactivities	(695,555)	(535,576)
Cashflowsfrominvestingactivities
Interestanddividends	306,957	269,885
Accumulatingdividends	(19,565)	(7,759)
Cashfrominvestmentincome	287,392	262,126
Purchaseoffixedassets	(10,445)	(18,000)
Purchaseofinvestments	(550,000)	-
Proceedsfromsaleofinvestments	699,685	-
Netcashprovidedbyinvestingactivities	426,632	244,126
Changeincashandcashequivalentsintheyear	(268,923)	(291,450)
Cashandcashequivalentsbroughtforward	313,526	604,976
Cashandcashequivalentscarriedforward	44,603	313,526

INCOMEFROMDONATIONSANDLEGACIES	2023	2022
	£	£
Unrestricted Funds
Donations	34,725	37,359
Subscriptions- OneDay'sPay Legacies	326,070 4,911	313,419 267
	365,706	351,045
RestrictedFunds
Donations	34,721	37,357
Subscriptions- OneDay'sPay	441,998	425,793
Subscriptions- RetiredOfficers	4,958	5,143
Legacies	21,818	267
	503,495	468,560
TotalFunds
Donations	69,446	74,716
Subscriptions- OneDay'sPay	768,068	739,212
Subscriptions- RetiredOfficers	4,958	5,143
Legacies	26,729	534
	869,201	819,605

3.	INCOMEFROMINVESTMENTS	2023	2022
		£	£
	UnrestrictedFunds
	GrossDividends	106,504	91,761
	InterestonDepositAccounts	428	77
		106,932	91,838
	RestrictedFunds
	GrossDividends	199,272	177,908
	InterestonDepositAccounts	753	139
		200,025	178,047
	TotalFunds
	GrossDividends	305,776	269,669
	InterestonDepositAccounts	1,181	216
		306,957	269,885
4.	INCOMEFROMCHARITABLEACTIVITIES	2023	2022
		5	£
	UnrestrictedFunds
	GrantsfromOtherOrganisations		123,360
	RSIEventsandAdvertisements	8,950	11,980
		8,950	135,340
	Restricted
	GrantsfromOtherOrganisations	110,299	146,100
	DisposalofRedundantCorpsSilverware	551	240
	RSIEventsandAdvertisements	183,022	76,029
	WireMagazinesubscriptions	8,263	8,849
		302,135	231,218
	TotalFunds	311,085	366,558
5.	EXPENDITUREONCHARITABLEACTIVITIES	2023	2022
		a	£
	UnrestrictedFunds
	GrantsPayableandExpenditure
	Sporting	126,899	147,239
	Sailing		19,045
	AdventureTraining	104,699	70,975
	Messes,HeritageandHistory	131,000	125,000
	OtherAssistancetotheservingCorps	33,263	64,557
	Bands	15,533	8,141
	EventsandActivities
	CorpsPropertymaintenanceandcontrol	17,540	15,355
	RSIevents,awardsandpublishing	41,053	40,892
	WireMagazine	56,599	49,822
	SupportandSharedcosts
	CorpsActivities	68,199	66,088
	Governance	16,344	17,228
		611,129	624,342

5.	EXPENDITUREONCHARITABLEACTIVITIES(continued)	2023	2022
		£	£
	RestrictedFunds
	GrantsPayableandExpenditure
	Welfare	476,712	336,021
	Sporting	106,299	134,650
	Sailing	-	2,850
	AdventureTraining	-	7,000
	Messes,HeritageandHistory	98,254	110,151
	OtherAssistancetotheservingCorps	72,151	31,404
	EventsandActivities
	CorpsPropertymaintenanceandcontrol	20,067	24,471
	RSIevents,awardsandpublishing	220,061	62,240
	Officers’Dinner& Social	17,187	15,213
	WireMagazine	8,263	8,849
	Reunionsandothercosts	104,330	93,755
	SupportandSharedcosts
	Welfare	25,115	23,984
	Veterans	33,486	31,978
	OfficerActivities	41,858	39,973
	Governance	24,514	25,842
		1,248,297	948,381
	TotalFunds
	GrantsPayableandExpenditure
	Welfare	476,712	336,021
	Sporting	233,198	281,889
	Sailing	-	21,895
	AdventureTraining	104,699	77,975
	Messes,HeritageandHistory	229254	235,151
	OtherAssistancetotheservingCorps	105,414	95,961
	Bands	15,533	8,141
	EventsandActivities
	CorpsPropertymaintenanceandcontrol	37,607	39,826
	RSIevents,awardsandpublishing	261,114	103,132
	Officers’Dinner& Social	17,187	15,213
	WireMagazine	64,862	58,671
	Reunionsandothercosts	104,330	93,755
	SupportandSharedcosts
	Welfare	25,115	23,984
	Veterans	33,486	31,978
	CorpsandOfficerActivities	110,057	106,061
	Governance	40,858	43,070
		1,859,426	1,572,723

TheRoyalSignalsInstitution(RSI)fostersprofessionaldevelopmentamongsttheservingCorps,theretiredCorps	TheRoyalSignalsInstitution(RSI)fostersprofessionaldevelopmentamongsttheservingCorps,theretiredCorps	TheRoyalSignalsInstitution(RSI)fostersprofessionaldevelopmentamongsttheservingCorps,theretiredCorps
andtheirclosecolleaguesinDefenceandIndustry.
WelfareGrantsincludespaymentstoothercharitiesforthe	2023	2022
furtheranceoftheCharity'sobjectives:	£	£
ArmyBenevolentFund	35,000	35,000
variousnursinghomeswithexRoyalSignalsresidents	7,750	-
	42,750	35,000

ROYALSIGNALSCHARITY TESTOTHEFINANCIALSTATEMENTSFOR THEYEAR	ROYALSIGNALSCHARITY TESTOTHEFINANCIALSTATEMENTSFOR THEYEAR	ENDED31DECEMBER2023
EXPENDITUREDISCLOSURES		2023	2022
SharedSupportCosts
UnrestrictedFunds
Accounts&	ManagementSalariesShared		52,968
ITSupportandEquipmentCosts			5,733
Postage			630
BankCharges			1,066
Depreciation		362	361
TotalShared	SupportCosts	63,623	60,758
DirectCorps	Administration	1,226	2,132
		—__64,849_	——__62,890	__
RestrictedFunds Accounts& ManagementSalariesShared ITSupportandEquipmentCosts Postage BankCharges Depreciation		90,783 10,366 706 1,363 590	86,421 9,353 1,029 1,740 590
		103,808	99,133
TotalFunds Accounts& ManagementSalariesShared ITSupportandEquipmentCosts Postage BankCharges Depreciation		146,424 16,719 1,138 2,198 952	139,389 15,086 1,659 2,806 951
TotalSharedSupportCosts		167,431	159,891
DirectCorps	Administration	1,226	2,132
		168,657 ——————_——	162,023
Attributedto:	UnrestrictedFunds
	CorpsFund	64,849	62,890
	RestrictedFunds
	OfficersFund	50,229	47,967
	Welfare	10,045	9,593
	Veterans	43,534	41,573
		168,657 ——	162,023 —_—
TotalExpenditureincludedthefollowingcosts
UnrestrictedFunds
StaffCosts	|WagesandSalaries	92,598	84,600
	SocialSecurityCosts	10,829	9,586
	PensionSchemeCosts	3,111	2,836
		106,538 —————	97,020 —_—_ 1	_
Depreciation	ChargesfortheYear	2,651	1,600
RestrictedFunds
StaffCosts	|WagesandSalaries	243,977	208,012
	SocialSecurityCosts	23,850	17,362
	PensionSchemeCosts	7,553	6,189
		275,381 es	231,565 —
Depreciation	ChargesfortheYear	4,171	4,171
TotalFunds
StaffCosts	|WagesandSalaries	336,576	292,612
	SocialSecurityCosts	34,679	26,948
	PensionSchemeCosts	10,664	9,025
		381,919 st _	328,585 ——
Depreciation	ChargesfortheYear	6,822	5,771

	2023	2022
GovernanceCostsincludedthefollowing	£	£
UnrestrictedFunds
Audit	7,156	7,111
InvestmentAdvice	7,684	7,822
TrusteeExpenses	715	1,149
TrusteeMeetings	195	520
TrusteeLiabilityInsurance	594	626
	16,344	17,228
RestrictedFunds
Audit	10,734	10,667
InvestmentAdvice	11,525	11,733
TrusteeExpenses	1,072	1,724
TrusteeMeetings	293	780
TrusteeLiabilityInsurance	890	938
	24,514	25,842
TotalFunds
Audit	17,890	17,778
InvestmentAdvice	19,209	19,555
TrusteeExpenses	1,787	2,873
TrusteeMeetings	488	1,300
TrusteeLiabilityInsurance	1,484	1,564
	40,858	43,070

7.	TANGIBLEFIXEDASSETS	HQOfficers	Historic	Regimental
		Mess	Assets	HQ	YachtClub	Bands	Total
	2023	£	£	£	£	£	£
	Cost/ Deemedcost
	At1 January2023	360,000	381,111	7,718	35,267	22,347	806,443
	Additions	-	8,450	-	-	1,995	10,445
	CostofDisposals	-	-	-	-	-	-
	At31December2023	360,000	389,561	7,718	35,267	24,342	816,888
	AccumulatedDepreciation
	At1 January2023	27,916	-	6,766	35,267	10,186	80,135
	ChargeforYear	3,600	-	952	-	2,270	6,822
	EliminatedonDisposals	-	-	-	-	-	-
	At31December2023	31,516	-	7,718	35,267	12,456	86,957
	NetBookValues
	At31December2023	328,484	389,561	-	-	11,886	729,931
	At31December2022	332,084	381,111	952	-	12,161	726,308

	HQ	Officers	Officers	Historic	Historic	Historic	Regimental
		Mess		Assets			HQ	YachtClub			Bands Total
	2022		£			£	£			£		£	£
	Cost/ Deemedcost
	At1 January2022	360,000		370,111			7,718		35,267		15,347	788,443
	Additions	-		11,000			-		-		7,000	18,000
	CostofDisposals	-			-		-		-		-	-
	At31December2022	360,000		381,111			7,718		35,267		22,347	806,443
	AccumulatedDepreciation
	At1 January2022	24,316			-		5,815		35,267		8,966	74,364
	ChargeforYear	3,600			-		951		-		1,220	5,771
	EliminatedonDisposals	-			-		-		-		-	-
	At31December2022	27,916			-		6,766		35,267		10,186	80,135
	NetBookValues
	At31December2022	332,084		381,111			952		-		12,161	726,308
	Theassetsaboverelate directlytocharitable		purposes.
	Theassetsarekeptcontinuouslyunderreview			forpotential			impairment.
	HeadquartersOfficersMess
	Aprofessionalvaluationin2014of	thefurnitureinthe			HeadquartersOfficersMesstotalled£360,000,allofwhich								ar
	assetsforwhichtherisksandrewardsbelongtothe				Charity.Thiswasdeemedtobehistoriccost							ontransitionand
	thereforeassumednotrevaluedgoingforward.
	HistoricAssets
	Reliablecostinformationisnotavailableforhistoricassetsacquiredpriorto								1January1994		which	havenotbeen
	capitalised. Recentvaluationsofsilverware			andpaintings			intheHeadquartersOfficersMesstotalledover£1.25
	millionandotherlocationswereassessed		in	theyear.
	Since 1January1994historicassetshave		beenacquired				fortheBlandford		Garrison	Church	£22,365,theNational
	ArboretumMemorial£22,185andSilverand			Artworks	£345,011(2022:£336,561). Depreciationis							notchargedon
	historicassetsastheirresidualvalueisconsideredto				be	higherthantheircarryingvalue.
8.	INVESTMENTS- LISTED								2023			2022
										£			£
	MarketValueat1 January							10,769,615				12,035,519
	Additions								569,565			7,759
	DisposalProceeds								(699,685)			-
	(Losses)/ Gainsinyear								173,348			(1,273,663)
	MarketValueat31December							10,812,843				10,769,615
	HistoricCost							9,413,426				9,417,356
	Heldin:-
	BlackRock,ArmedForcesCharitiesGrowth			&Income		Fund			7,022,550			6,932,890
	TroyAssetManagement,Trojan	'S'shares
	AccumulationUnits								3,340,293			3,836,725
	BlackRockSterlingLiquidityFundshares								450,000			-
								10,812,843				10,769,615
9.	DEBTORS								2023			2022
										£			£
	Subscriptions								64,589			61,588
	Loans								-			1,002
	OtherDebtors								15,239			10,534
	Prepayments								36,591			80,297
									116,419			153,421

10.CREDITORS:amountsfallingduewithinoneyear	10.CREDITORS:amountsfallingduewithinoneyear			2023	2023			2022
					£			£
BalancewithRelatedEntities				107,805				105,335
SocialSecurityandOtherTaxes				9,377				8,737
BalancesheldasAgent(seenote15)				68,701				60,619
OtherCreditors				42,489				43,457
Accruals				22,478				22,478
DeferredIncomeandProvisions
Broughtforwardfromprioryear				115,107				222,056
Usedorrepaidinyear				(115,107)				(218,452)
Arisingintheyear				31,768				111,503
Carriedforward				31,768				115,107
				282,618	_		~~ 355,733
DeferredIncomeariseswhenreceiptsrelateto	activities	plannedforthefuture.
11.PROVISIONSFORLIABILITIESANDCHARGES				2023				2022
					£			£
Employees’RetirementProvision				109,251				94,796
Provisionfortheamountsduetoemployeesupontheirretirementinaccordancewith					theiremployment			contract.
12.RESTRICTEDFUNDS	1January		Income	Expenditure		Investment	31	December
		£		£	£	Gains	£	£
2023
Welfare& VeteransFund	5,048,781		466,290	(642,148)		81,258		4,954,181
Officers’ActivitiesFund	2,157,847		360,089	(335,577)		23,253		2,205,612
Sergeants’MessesFund	118,622		53,135	(73,315)		1,909		100,351
DisbandedUnits- PRIFund	299,417		8,986	(84,525)		5,075		228,953
DisbandedUnits- OfficersMessesFund	78,383		1,908	-		1,078		81,369
DisbandedUnits- SergeantsMessesFund	28,464		685	-		387		29,536
OtherCorpsActivityIncomereceivedand
expendedinyearforspecificpurposes	-		114,562	(114,562)		-		-
	7,731,514		1,005,655	(1,250,127)		112,960		7,600,002
2022
Welfare& VeteransFund	5,722,537		421,372	(489,631)		(605,497)		5,048,781
Officers'ActivitiesFund	2,262,793		238,499	(178,675)		(164,770)		2,157,847
Sergeants'MessesFund	173,601		53,673	(90,282)		(18,370)		118,622
DisbandedUnits- PRIFund	371,948		8,485	(40,943)		(40,073)		299,417
DisbandedUnits- OfficersMessesFund	85,090		1,801	-		(8,508)		78,383
DisbandedUnits- SergeantsMessesFund	30,871		646	-		(3,053)		28,464
OtherCorpsActivityIncomereceivedand
expendedinyearforspecificpurposes	-		153,349	(153,349)		-		-
	8,646,840		877,825	(952,880)		(840,271)		7,731,514

UNRESTRICTEDFUNDS	1January	Transfers	Transactions	31December
	£	£	£	£
2023
DesignatedFunds
YachtClub,vesselreplacementsandexpeditions	101,597	-	-	101,597
Corps- YachtClubOffshoreAccount	629	-	-	629
TotalDesignatedFunds	102,226	-	-	102,226
Corps- GeneralFund	3,678,599	-	(68,902)	3,609,697
	3,780,825	-	(68,902)	3,711,923
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

	ALLOCATIONOFNETASSETS	Unrestricted	Restricted	Total
		£	£	£
	2023 TangibleFixedAssets	56,436	673,495	729,931
	investments	3,886,334	6,926,509	10,812,843
	CurrentAssetslessCurrentLiabilitiesandProvisions	(230,847)	-	(230,847)
		3,711,923	7,600,004	11,311,927
	2022
	TangibleFixedAssets	67,662	658,646	726,308
	Investments	3,696,745	7,072,870	10,769,615
	CurrentAssetslessCurrentLiabilitiesandProvisions	16,418	-	16,418
		3,780,825	7,731,516	11,512,341