| Page | |
|---|---|
| Legal and Administrative information | 2 |
| Report of the Trustees | 3-6 |
| Independent auditors5 report | 7-9 |
| Statement of financial activities | 10 |
| Balance sheet | 11 |
| Notes to the financial statements | 12-16 |
| Detailed i ncome |
17 |
| Detailed expenditure | 18-19 |
| Trustees | Major General CRY Walker DSO | |||
|---|---|---|---|---|
| Lieutenant General Sir George Norton KCVO, | CBE | |||
| Brigadier D J H Maddan | ||||
| Captain C A G Bennett | ||||
| The Rt Hon The Earl of Derby, DL | ||||
| Colonel R E H Aubrey - Fletcher | ||||
| General Secretary | ||||
| and Treasurer | Major A J Green | |||
| Registered Charity | ||||
| Number | 287265 | |||
| Address | Wellington Barracks | |||
| Birdcage Walk | ||||
| London SW1E6HQ | ||||
| Auditors | Saffery Champness LLP | Solicitors | Wrigleys Solicitors LLP | |
| 71 Queen Victoria Street | 19 Cookridge Street | |||
| London EC4V 4BE | Leeds LS2 3AG | |||
| Bankers | Lloyds Bank Pic | Investment | Cazenove Capital | |
| Cox’s & King’s | managers | Management | ||
| PO Box 1000 | 12 Moorgate London | |||
| Andover | EC2R 6DA | |||
| BX11LT |
| Unrestricted funds | Note | 2020 | 2019 |
|---|---|---|---|
| £ | £ | ||
| Income from: | |||
| Donations and subscriptions Legacies |
|||
| Investment income Sales of goods |
|||
| Other income | |||
| Total income 133,163 |
|||
| Expenditure on: | |||
| Raising funds Charitable activities |
|||
| Total expenditure (136,965) |
|||
| Net (expenditure)/income for the | |||
| year before investment gains/(losses) | (3,802) | (26,979) | |
| Other recognised gains and losses | |||
| Net gains/(losses) on investments | 141,287 | 268,509 | |
| Net movement in funds | 137,485 | 241,530 | |
| Balances brought forward | 2,347,213 | 2,105,683 | |
| Balances carried forward | 2,484,698 | 2,347,213 |
| Cost of raising funds Cost of goods sold Investment management fees |
||
|---|---|---|
| Charitable activities | ||
| 2020 | 2019 | |
| £ | £ | |
| Welfare grants Association events |
||
| Support costs |
| Auditor’s remuneration | ||
|---|---|---|
| The auditor’s remuneration constituted an audit fee of £6,030 (2019: £6,210). | ||
| 4 | Tangible fixed assets | |
| Office & display | ||
| equipment | ||
| £ | ||
| Cost | ||
| At Ì January 2020 | 10,266 | |
| Additions | 2,235 | |
| At 31 December 2020 | 12,501 | |
| Depreciation | ||
| At 1 January 2020 | 7,554 | |
| Charge for the year | 1,007 | |
| At 31 December 2020 | 8,561 | |
| Net book value | ||
| At 31 December 2020 | 3,940 | |
| At 31 December 2019 | 2,712 |
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Market value | |||||
| At 1 January 2020 Additions |
|||||
| Disposals Net investment gains/(losses) |
|||||
| At 31 December 2020 | 2,071,706 | 1,960,580 | |||
| 2020 | 2019 | ||||
| Cost | Market | Cost | Market | ||
| value | value | ||||
| £ | £ | £ | £ | ||
| Fixed Interest | |||||
| United Kingdom | 227,412 | 246,282 | 216,477 | 228,128 | |
| Equities | |||||
| United Kingdom North America |
|||||
| Continental Europe Far East |
|||||
| Emerging Markets Global |
|||||
| Portfolio Funds | |||||
| Portfolio Funds | 52,646 | 73,047 | |||
| Hedge Funds | |||||
| Other International | |||||
| United Kingdom | |||||
| Other investments | . 7,299 | 7,299 | 7,278 | 7,278 | |
| Total | 1,722,359 | 2,071,706 | 1,659,191 | 1,960,580 |
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Accruals | 17,331 | 17,368 |
| 2020 | 2019 | |||||
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | |||
| Non-investment income | ||||||
| Sales of Association goods | ||||||
| Other Income Income from investments |
||||||
| Investment income gross Deposit interest |
||||||
| Donations and subscriptions | ||||||
| Welfare grants from regimental funds | 50,004 | 51,721 | ||||
| Covenants and gift aid | 3,271 | 5,143 | ||||
| Refund of tax on donations | 818 | 1,003 | ||||
| Non-covenanted or gift aid donations | 11,785 | 15,520 | ||||
| Subscriptions | 1,320 | 715 | ||||
| Christmas draw | 10,122 | 22,029 | ||||
| Christmas gifts | 295 | 5,365 | ||||
| Branch events | 3,845 | 22,387 | ||||
| Recurring | 81,460 | 123,883 | ||||
| Legacies Non-recurring |
||||||
| Total income | 133,163 | 200,610 | ||||
| Recurring i : ncome |
132,563 | 196,170 | ||||
| Non-recurring i ncome |
600 | 4,440 | ||||
| 133,163 | 200,610 |
| 2020 | 2019 | ||||||
|---|---|---|---|---|---|---|---|
| £ | £ | £ | £ | ||||
| Cost of raising funds | |||||||
| Costs of goods sold Investment management fees |
|||||||
| Charitable activities | |||||||
| Grants and donations: | |||||||
| Chantable allowances paid Christmas gifts Welfare grants Welfare expenses |
2 5 4 5 6 , 9 , 6 , 7 , 5 , 5 , 5 ， 1 ， |
12,133 11,686 37,723 3,472 |
|||||
| 48,964 |
65,014 | ||||||
| Donations, wreaths and crosses | |||||||
| Association events: | |||||||
| Grenadier Day expenses Regimental Remembrance Day |
|||||||
| Branch dinners official expenses Annual dinner and dance |
|||||||
| Presentations Other Carried forward |
94,035 | 170,093 |
| 2020 | 2019 | |||||
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | |||
| Brought forward | 94,035 | 170,093 | ||||
| Other expenditure | ||||||
| Support costs: | ||||||
| AGM, Finance and Central Committee | 1,804 | 8,216 | ||||
| General administrative costs in | ||||||
| Branches .. |
608 | U32 | ||||
| Honoraria, pension and travelling | 13,029 | 16,874 | ||||
| Insurance | 824 | 824 | ||||
| Repairs, renewals and maintenance | 867 | 1,633 | ||||
| Postage | 2,187 | 2,819 | ||||
| Printing, stationery and office expenses | 9,770 | 9,447 | ||||
| Legal costs | 649 | |||||
| Audit and accountancy | 12,464 | 12,942 | ||||
| Bank charges Depreciation of fixed assets |
379 2,581 |
' | ||||
| Total recurring expenditure | 136,965 | 227,589 |