| 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 |