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2022-12-31-accounts
|
Page |
| Legal and Administrative information |
2 |
| Reportofthe Trustees |
3-6 |
| Independent auditors' report |
7-9 |
| Statementoffinancial activities |
|
| Balance sheet |
11 |
| Notes to the financial statements |
!2-16 |
| Detailed income |
17
'I |
| Detailed expenditure |
18-19 |
| Trustees |
MajorGeneral J M HBowderOBE |
|
|
|
Lieutenant General Sir CRVWalkerKCBDSO |
|
|
|
LieutenantGeneralSirGeorgeNmtonKCVO,CBE |
|
|
|
BrigadierDJH MaddanDL |
|
|
|
Captain C A G Bennett |
|
|
|
TheRtHonTheEarlofDerby,DL |
|
|
|
Colonel R E HAubrey- Fletcher |
|
|
| General Secretary |
|
|
|
| and Treasurer |
Lieutenant Colonel J_A_KeeleyMBE |
|
|
| Registered Charity |
|
|
|
| Number |
287265 |
|
|
| Address |
Wellington Barracks |
|
|
|
BirdcageWalk |
|
|
|
LondonSWlE6HQ |
|
|
| Auditors |
SafferyChampnessLLP |
Solicitors |
Wrigleys Solicitors LLP |
|
71QueenVictoria Street |
|
19CookridgeStreet |
|
LondonEC4V4BE |
|
Leeds LS23AG |
| Bankers |
LloydsBankPlc |
Investment |
CazenoveCapital |
|
Cox's&King's |
managers |
Management |
|
P 0Box1000 |
|
12MoorgateLondon |
|
Andover |
|
EC2R6DA |
|
BXllLT |
|
|
| Unrestricted funds |
Note |
2022 |
2021 |
|
|
£ |
£ |
| Income from: |
|
|
|
| Donations and subscriptions |
|
136,838 |
91,812 |
| Legacies |
|
43,283 |
1,000 |
| Investment income |
|
29,123 |
22,923 |
| Salesofgoods |
|
24,353 |
18,199 |
| Other income |
|
|
|
| Total income |
|
233,597 |
133,934 |
| Expenditure on: |
|
|
|
| Raising funds |
2 |
33,923 |
28,409 |
| Charitable activities |
3 |
260,885 |
148,490 |
| Total expenditure |
|
(294,808) |
(176,899) |
| Net (expenditure)/income for the |
|
|
|
| year before investment (losses)/gains |
|
(61,211) |
(42,965) |
| Other recognised (losses) and gains |
|
|
|
| Net(losses)/gain on investments |
|
(236, 190) |
207,769 |
| Net (expenditure)/income movement |
|
(297,401) |
164,804 |
| infunds |
|
|
|
| Balances brought forward |
|
2,649,502 |
2,484,698 |
| Balances carried forward |
|
2,352,101 |
2,649,502 |
|
Note |
|
2022 |
|
2021 |
|
|
|
£ |
£ |
£ |
|
£ |
| Fixed assets |
|
|
|
|
|
|
| Tan gib 1 e assets |
4 |
|
3.593 |
|
|
3,931 |
| investments |
5 |
|
2,014,368 |
|
2271,914 |
|
|
|
|
2,017,961 |
|
2,275,845 |
|
| Current assets |
|
|
|
|
|
|
| Stocks |
|
39,459 |
|
35,367 |
|
|
| Debtors |
|
3,489 |
|
3,225 |
|
|
| Cash at bank andinhand |
|
314,860 |
|
364A86 |
|
|
|
|
357,808 |
|
403,078 |
|
|
| Current liabilities |
|
|
|
|
|
|
| Creditors |
6 |
(23,668) |
|
(29,421) |
|
|
| Net current assets |
|
|
334,140 |
|
|
373,657 |
| Total assets less current |
|
|
|
|
|
|
| liabilities |
|
|
2,352, l01 |
|
2,649,502 |
|
| Funds |
|
|
|
|
|
|
| Unrestricted |
|
|
2,352,101 |
|
2,649,502 |
|
| 2 |
Costofraising funds |
|
|
|
|
2022 |
2021 |
|
|
£ |
£ |
|
Costofgoods sold |
!9,120 |
12,563 |
|
Investment management fees |
14,803 |
15,846 |
|
|
33,923 |
28,409 |
| 3 |
Charitableactivities |
|
|
|
|
2022 |
2021 |
|
|
£ |
£ |
|
Welfare grants |
65,054 |
50,588 |
|
Association events |
131,783 |
46,224 |
|
Supp01i costs |
64,048 |
51,678 |
|
|
260,885 |
148,490 |
| 4 |
Tangiblefixed assets |
|
|
|
Office&display |
|
|
equipment |
|
|
£ |
|
Cost |
|
|
Atl January 2022 |
12,966 |
|
Additions |
133 |
|
At31December2022 |
13,099 |
|
Depreciation |
|
|
At1 January 2022 |
9,035 |
|
Chargefortheyear |
471 |
|
At31December2022 |
9,506 |
|
Net book value |
|
|
At31December 2022 |
3,593 |
|
At31December2021 |
3,931 |
| ixed assets investments |
|
|
|
|
|
|
|
|
|
|
2022 |
|
2021 |
|
|
|
|
£ |
|
£ |
| Market value |
|
|
|
|
|
|
| At 1January2022 |
|
|
|
2,189,715 |
|
2,015,747 |
| Additions |
|
|
|
664,775 |
|
413,821 |
| Disposals |
|
|
|
(756,974) |
|
(447,622) |
| Netinvestment (losses)/gains |
|
|
|
(236, 190) |
|
207,769 |
| At31December2022 |
|
|
|
1,861,326 |
|
2,189,715 |
| Cash |
|
|
|
153,042 |
|
82,199 |
| Total investments as at31December |
2022 |
|
|
2,014,368 |
|
2,271,914 |
|
|
2022 |
|
|
2021 |
|
|
Cost |
|
Market |
Cost |
|
Market |
|
|
|
value |
|
|
value |
|
£ |
|
£ |
£ |
|
£ |
| Fixed Interest |
|
|
|
|
|
|
| United Kingdom |
288,786 |
|
267,795 |
218,984 |
|
232,470 |
| Equities |
|
|
|
|
|
|
| United Kingdom |
86,725 |
|
95,049 |
216,796 |
|
267,655 |
| North America |
426,021 |
|
544,623 |
255,480 |
|
434,115 |
| Continental Europe |
|
|
|
45,819 |
|
69,552 |
| Far East |
81,391 |
|
88,732 |
81,572 |
|
99,853 |
| Emerging Markets |
118,892 |
|
129,226 |
135,680 |
|
185,166 |
| Global |
335,068 |
|
385,409 |
347,496 |
|
433,801 |
| PortfolioFunds |
|
|
|
|
|
|
| Portfolio Funds |
|
|
|
|
|
|
| Hedge Funds |
|
|
|
|
|
|
| Other International |
429,362 |
|
443,122 |
386,765 |
|
459,80I |
| Cash |
|
|
|
|
|
|
| United Kingdom |
53,042 |
|
53,042 |
82,199 |
|
82,199 |
| Other investments |
7,370 |
|
7,370 |
7,299 |
|
7,299 |
| Total |
1,826,657 |
|
2,014,368 |
1,778,090 |
|
2,271,914 |
| reditors |
|
|
|
2022 |
2021 |
|
£ |
£ |
| Accruals |
23,668 |
21,636 |
|
|
2022 |
|
|
2021 |
|
|
£ |
|
£ |
£ |
|
£ |
| Non-investment income |
|
|
|
|
|
|
| SalesofAssociation goods |
24,353 |
|
|
18,199 |
|
|
| Other Income |
|
|
|
|
|
|
|
|
|
24,353 |
|
|
18,199 |
| Income from investments |
|
|
|
|
|
|
| Investment income gross |
28,963 |
|
|
22,871 |
|
|
| Deposit interest |
160 |
|
|
52 |
|
|
|
|
|
29J23 |
|
|
22,923 |
| Donations and subscriptions |
|
|
|
|
|
|
| Welfare grants from regimental funds |
30,000 |
|
|
30,000 |
|
|
| Covenants and gift aid |
2,968 |
|
|
3,080 |
|
|
| Refundoftax on donations |
744 |
|
|
770 |
|
|
| Non-covenantedorgift aid donations |
16,755 |
|
|
8,407 |
|
|
| Subscriptions |
1,337 |
|
|
430 |
|
|
| Christmasdraw |
19,706 |
|
|
17,889 |
|
|
| Christmas gifts |
|
|
|
210 |
|
|
| Branch events |
65,328 |
|
|
31,026 |
|
|
| Recurring |
136,838 |
|
|
91,812 |
|
|
| Legacies |
43,283 |
|
|
1,000 |
|
|
| Non-recurring |
43,283 |
|
|
1,000 |
|
|
|
|
|
180,121 |
|
|
92,812 |
| Totalincome |
|
|
233,597 |
|
|
133,934 |
| Recurring income |
|
|
!90,314 |
|
|
132,934 |
| Non-recurring income |
|
|
43,283 |
|
|
1,000 |
|
|
|
233,597 |
|
|
133,934 |
|
|
2022 |
|
|
2021 |
|
|
£ |
|
£ |
£ |
|
£ |
| Costofmising funds |
|
|
|
|
|
|
| Costsofgoods sold |
19,120 |
|
|
12,563 |
|
|
| Investment management fees |
14,803 |
|
|
15,846 |
|
|
|
|
|
33,923 |
|
|
28,409 |
| Charitable activities |
|
|
|
|
|
|
| Grants and donations: |
|
|
|
|
|
|
| Charitable allowances paid |
4,623 |
|
|
5,115 |
|
|
| Christmas gifts |
6,973 |
|
|
5,817 |
|
|
| Welfare grants |
42,391 |
|
|
32,085 |
|
|
| Welfare expenses |
2,696 |
|
|
3,590 |
|
|
|
56,683 |
|
|
46,607 |
|
|
| Donations, wreaths and crosses |
8,371 |
|
|
3,981 |
|
|
|
|
|
65,054 |
|
|
50,588 |
| Association events: |
|
|
|
|
|
|
| Grenadier Day expenses |
10,922 |
|
|
318 |
|
|
| Regimental Remembrance Day |
13,259 |
|
|
470 |
|
|
| Branch dinners official expenses |
2,547 |
|
|
349 |
|
|
| Annual dinner and dance |
73,655 |
|
|
26,286 |
|
|
| Presentations |
45 |
|
|
204 |
|
|
| Other |
31,355 |
|
|
18,597 |
|
|
|
|
|
131,783 |
|
|
46,224 |
| Carried forward |
|
|
230,760 |
|
|
125,221 |
|
|
2022 |
|
|
2021 |
|
|
£ |
|
£ |
£ |
|
£ |
| Brought forward |
|
|
230,760 |
|
|
125221 |
| Other expenditure |
|
|
|
|
|
|
| Support costs: |
|
|
|
|
|
|
| AGM, Finance and Central Committee |
8,940 |
|
|
5.976 |
|
|
| General administrative costsin |
|
|
|
|
|
|
| Branches |
550 |
|
|
550 |
|
|
| Honoraria, pension and travelling |
14,875 |
|
|
11,065 |
|
|
| Insurance |
1,028 |
|
|
903 |
|
|
| Repairs, renewals and maintenance |
1,210 |
|
|
543 |
|
|
| Postage |
1,054 |
|
|
2,520 |
|
|
| Printing, stationery and office expenses |
13,651 |
|
|
9,216 |
|
|
| Legal costs |
|
|
|
|
|
|
| Audit and accountancy |
20,407 |
|
|
19,442 |
|
|
| Bank charges |
1,177 |
|
|
354 |
|
|
| Depreciationoffixed assets |
1,156 |
|
|
1,109 |
|
|
|
|
|
64,048 |
|
|
51,678 |
| Total recurring expenditure |
|
|
294,808 |
|
|
176,899 |