Charity re8iStsalion ryUM. 313525 Lord Kitchener National Memorial Fund ATthu81 Rcport And Fin8ocial Ststements for the Ye*r Ended 31 March 2022
Contsnts Referee and Adttrativc Dethiis Trus¢ee5 Reprt 2to6 StAtement of Te¢s, Rwnsibilities Stgt¢ment of FitiaD¢iai Activities Balatt¢e Sbe¢t Note$ to the FIDaD¢1 Sthtements IOto16 Independent Examinevs Rert 17
Reference and Admlnlstrative Detalls Trnste LieutrD8nt GeD¢rai Sir Dav¥J Bill KCB, BSc(En8X MliDsR Mr D E ColtEnall BWM The W Emma Kilchener LVO MT C de Mat9 MBA. Treasur Mr N BA Mr P Skipworth MBA Ms S Sautth Secr¢t•ry Lieuteneot Colonel M R Bassett BEM Prlntlpal Offle¢ 2 New Cotta8¢5 Old Chatham Road Maidstolle ME14 3AJ Charlty Number 313525 B&nker8 National Westsniti8ter B•nk Plc 36 Bridge Street Pinner Middlesex HA5 HT cotF Cbarity Fuud8 S¢nator House 85 Queen Vicloria Stre EC4V 4ET Bjrclays Wealth vel 15 I Churchill Place E145HP Independent Ex*nhltteT Manningtons 8 High Srreet Heathfield TN218LS PaAe I
Trnstees Report The Tnle¢S PTesellt the 4Dnual report together with the financial Aatements of the ¢harity for the year ended 31 M8Tch 2022. The Tru$tees who served durÈng the ye4r aDd up kn the date of this report are set oul on page l. ObJtr¢fves and •¢¢fvltlei ObJ¢¢ti and alms The tA)rd Kitchener National Memorial Fund provides educatsonal 8cbolarskn.ps to forn)er Servicemen and women and to the sons and daughws of parents who have seN¢d in HM Arni¢d Forces. S¢holarships ar¢ currently offered to ¢andIda WIK) art expected to make a significt posiiive contribution society and who are studying for a f$1 degree at utiiversity in the UK. In the p&sL the Fund has also avdrded F,uropean Scholarships lo eligible cwodidates Studying ftt 8 M8St¢fs Dewe ID Business Administraiioii (MBA). Alihough limitcd funding cau5cd post-8rnduat¢ schol8rsbRPS to be Suspend with effe¢t from 2009. th¢'l'rusiees aim io r¢instste a limitcd number orp05t-gr*jue s¢holar5hips when ndIng pemiits.ln Ihe year ended 318t Marcli 2022. there w¢r¢ 61 Kitchener Univu5ity SclKJlar5 Studying ai 40 wiiversliiL. Publ1¢ benerai The Trtte¢s confm thai they have Yeferred ro the 8llidance provided by the chgn.ty Coinmission QD public benefit wben reviewing the Obje¢tive$ 8nd Activitie8 of the Fwd. They contt'nue to ¢xplore and expand the number of s¢hool.$ throu8b which Scholarships are promot¢d in order to r3ise awatfDGSS of the Furtd and its activities. The Trustees a150 aim to a$9isI qualify8 former service ptrsonnel with fier education. The Trustee$ are satisfied thai the award of scholarships w su¢¢e5$fi candid#1¢5 from milit4ry backgroundg is in ceordance with the objects of the FUD Page 2
Trnstees Report AchleveDwnts #Dd performDce The Trustees 8ff delighted to rcwrt thaL dcspitc volats"h"ty in fllunctal markets during the ae¢ouDting year. the Fund was able to award 26 scholarshi. OHC of which is to a gap ye4r sthdent NJo8e award is being carried forward io the acadeniic year starting in Septcmber 2022. Of the ren1am1 scholarships. 20 were fimded by the Fun4 three were supported by a gTant from Mid Kent College (specifically for succ81}J1 applicaDts with Royal Engineers perental background). one was fid¢d by BAE Sys(ems And the final s¢holatship was sponsored by fonner scholaT5. The TTUSt¢¢s wish to r¢¢oTd their SiDKr¢ appreciation to th¢ OTnisationS and individual srJ5orS wFk)se ¢ODtributions have made a SigDificant difference to the support that the Futsd has bcen able io offer. Scholarships Th¢ drag of COVID 19 and irs potential resmctions eominued itito the reporting pericd and the LKWF complied with government ]kdOWn rtstri¢tions. These restn'ction8 understandably ¢aused eoncern amongst Ixith current kn'tchener s¢ho]ars and candid8¢es. The Ex¢cutive Committce CO81der¢d tbe potential in]pact of Covid-indueed fujancial tnarker volatility on scholorslu'p ful1ng end e0nflnn that th¢ Fund eould finance the planned number of scholarships withoui undue risk io its long4erm health. Wbth this in mind it way decided that onlin¢ Zoom m¢¢tinss would ¢onunue. Following trsts with panel nMberS and candidates, the fe&sibiliry ofthe online intcrview proc¢ss was confill There were obvious ¥thanta8e8 from this proct3s which were built on from th¢ pVIouS year.. • Interview panel members h&v¢ brne confident with online proces8. . Candidates w¢rt Comforb]e io be intrtviewed from their IatIonS ld n>)8t were familiar with the Zoom . Co#si¢krable trav¢lliDg time athl tASeS were saved: . Members of it)iervi¢w panels did NA bave to tr&vel and thus weff Dot required w sacrifice fi] Yrkin8 thy$ for intervi¢ws: and . Admini8tr41ion redu¢e¢ 8lthou8h TTh>re te spent or8oni$ing zoom meetings with individu&l8 to ensure the systan and wtrmlogy w&$ iti ple. Thi$ procéÈ$ en&bled $4 ¢èndid4t¢e to be intoryiewed followin8 Teviews by thc Scholarshlp Commlnee, 20 scholarship w¢r¢ awarde(t Feedback frorn hol2h]p candidatrs was very POSitiv¢ and Ch successful candidate W&$ #Warded a $¢holarship of £1.51X), to be used in the furth¢rnnce of their 19th.0n. The Conjmittee th¢relore a8re¢d thai the remot¢ intetview pro¢e5s hwj been successfijl and that a hybrid sysm could ¢onsidered for use in future. Thc Kit¢hener Prize, awarded io an outsthndin8 ¢andid8te by Presideni pruented to Struan Barclay who is Teadittg 4n MA in Cerm¢n a1 Russi8n at Si Andrews. PaAe 3
Trustees Report Flnan¢iai revleiv Financial results for the y¢ar ¢Ddcd 3 1st March 2022 ate set out OL pag¢ 5 alld sh¢)w that as at 3 1st Mawh 2022. the value of investments had incre&8¢d by 5.9QA, to £2.447.756 {2021.. 2JI1.580). In addition, the fund held h of £234,997, mucb of which wa5 subsequently invested in low ri5K intettst-bearing counts &5 a r¢setve buffer agn$t volatility in th¢ Fund's iIivcstment accoiillL Net &wts of the Fund on the 31st 2022 amounted to £2.680.089, up 5.20A from £2.547236 ai the sthrt of the fitwlcial yw. Extreme fragility in ftnancial tDarkets bas coniitiucd and the É&sue of Ukraine aThl Russia is expectcd to have a n¢garive impact on the value of th¢ FU['S investttmts througboui 2022 and beyond. De8Pite this. th¢ Fund remdit]s in a 80und fmancial position th5 a long-toin appToacb to investmem. The TnJste¢s Currently consider that thc Fulld l)as sufficieDt c&th resour¢es coniillu¢ awarding se1]&r$bipS dun"n8 thi$ period of inv¢stment volatility. During the reportsng period, the Financt Committee beld nyo m¢¢tin88 at which the FuThJ's inve&tment5 were reviewed and a number of proposals were recomrnended to the Ex¢cutive Committ¢¢. The Council agrced to the Financial Commitl¢¢'5 5 year plan approved the bud8¢1 for 2022 at the Fulld's AGM on the 18th Noven)ber 2021. Plan8 for futre perlody AIn #nd key obJe¢tlves f•r fvthre pevlods The Trustees will eontinu¢ to rely principally i)n th¢ lon8-rerm apprxiation of investments in order to cover the tiJiitiin8 costs of thc Fund and the c(k8t of scholpr5hips. Alth(gh th¢ uncertw.nty in fiDarKial markets, which continued thtOU8b 20218nd into early 2022, h&8 led to a thcline io the value of th¢ Fund'5 invesknents, 1¢ i cnvj5aged thai they will appreciat¢ ov¢r the longer Eerni Followitt8 the deci8ion of the EXul1Ve CoDimittee to ]DC4Se ye of each 8cholar8htp from £1,000 to £1,500 with effeLt from tbe 20221 fillancial ye•r, fither considcration is being given to the w)ssibility of realauttchioR postgraduate scholAr5hips within the nexi 24 nM)nths. The Trustees hav¢ ¢areSJlly ¢OtrL8idcred plans for the avrnrd of scTrMilatshws in 2022 2023. They have c(mcluded that the ObjtiVe of awardin8 appmxitnately 20 sclK)larships from the Fuud each ye4r. togcther with a fi]rther five from restricted fimds slM)uld stand. This may rlt in a limiteAJ dE3wdowm of capital iTt the short ierni. The Secreiary, on behalf of lh¢ Scholarship Committe¢, has ntInued to FM)11 rnembety of th¢ LKNMF and KSA regarding the naturc of the current awanls and potential pOst-8(C awards. The review airns to ensure that aD appropTi8te balance between undcrgrndtC alld 1x)St-te scholor5hips, as well as appropriat¢ support to the KSA, 1$ achieved within budgetary coLstrau)L8. The Scholafsbip Commite and tbe Secretsry continue (o monilor and ¥1$¢ on the mst appropriafr u8¢ of the Fund's rwur¢¢s. The nuttthEr of scholalp8 kn be will cot)tiDue to be Ttviewed ID firture years attd eAtcrnal financial SUPPOrt for Additional avrnrts will be wught. The Paoe 4
Trnstees Report Stru¢ture goverD•llte and wllagem¢llt Nature of governlHg document The Charitable Trust was incorpth¢d by Royal Charter dat¢d 20th December 1919. Th¢ 1$ regjstered &$ an unincorwrated charlty with the Chgrity Conll)YssI re8isw¢d number 313525. Appointsn¢nt of Tn COW11 A nuTnber of C(rtmcil appoinmKnts are eXfiel0 these aTe in the Royol Charter. The remainder of the 4pwintm¢nL% to cour11 are by invitation. Th¢ TN5tees are all munbets of the Couticil. Trust¢¢s and membu8 of the Ex¢¢utive Committee may be selected from Council or from exrnal sources in order to ensure that appropriat¢ skill sets and experi&ice are available to the fund. Th¢ TThs(ees inteNI to reflect so¢i¢ty by maintaining membership principally from the Arn]ed Services. fom)er s¢holars, the legal profession and those with a spe¢ific interest IA trainin8 and education. Th¢ Presid¢ttt and ChauD)an are elected by th¢ CounciL There were no chan8eS to the Trustees and Council duTillB the rewTrrtiDg penod. Due io CovRd Teskn'ctions, no fa¢e-tOThf&ce trustee tr&iMing took place during the year. However. all memben of the Cornmittee 4r¢ up to date with rerd to misiee triDing aThJ hav¢ been 8uided ty the HMRC 8nd Chority Conls&1 web sites for conrinuation training. C(Trpies of the Clwity Commission's 8uidanc¢ on th¢ "Duties of a Trustee" were 8150 ¢irculated to all TnetS elcetronically. Pa5
Trustees Report Recrultment appolntthent of tru8tees A fidl list of Viee Presidents, attd Council Metnber$ 0$ &t the 318t March 2022 is .' PRESIDENf The Lady Emma Kitehener LVO VICE PRESIDENTS His Gracc The l.ord Archbishop of Cant¢rbury His Grace the l.ord Archbishop of York His Eminence the Ar¢hbÈshop of Westtnin8ter The Free Churche5' Modcrator The Very Rev the ChiefRabbi The Chaimi8n of thc Bftliic Exchangg Th¢ Chairman of Lloyd5 The Chairman of the SCk Exchange Major General R L Peck CB. BSc(Eng). CBng, FICF., MTnstRF. Air Lhi¢f Marshall Sir Andrew Wil8on, KCB, AFC THE COUNCJL Chairnwi. 'fhe Lady b.mma KiiLI)¢n¢r LVO• Tr¥asuter. Mr Chri$topber de Matto. ML,ng CEng MBA Members.. The Lord PTOVOg1 of Aberdeen Mr R 11 C A%¢ott. MA Lieumnt General Sir David Bill, KCB, IJse{En8),Mlns Mr D E Collman, ESA, ALAM The Lord Provost of Dundee The Rt Hon the Lord Prov08t of F,dinbur8h rhe Rt Hon the Lord Provost of Glasgow Air Chief Marsh81 Sir Clive Loadet KCB OBF. ADC Th¢ Rt Hon The LA)rd Mayor of LAJndon Mr N Macfarlane, BA Surgeon Commander Andrew Murrison RNR MP The Very Rev the Dean ofsi. Paul'$ Sir Toin Phillip5 KCMO Mr S Piggott. MBA Ms V Provis MBA Ms S Saund¢rs Mr P Skipworth MBA * Denotes TnJ$t¢¢ and member of th¢ Executive committ¢¢ e annual re wa5 approved by the TTUStee5 of the charity on . th18igDed on its behalf by: a Kitchener LV MT C de Mattos MBA Trustee te Pa£e 6
Statement of Trn8tee8' Responslbufiti The Trust¢es are respon&Ie for preparing the financial 5WerneDts iti ccordan¢e with the United Killgdom Accounting Stathds (United Kingdom Generdlly Accept1 AccouDting Practi¢¢) and applicable law at r¢gulatsons. The law applicable to chtirities requires the Tr$1¢49 to prepar¢ financial stalements for each financial year which ve a true and fair view of the state of 4ffw.rs of th¢ charity arKI of the incomin8 resources and 8pplie8tion of resouTces of the ¢haTity for th peTicd. In prepari th¢ fina1a1 sta*mettts. the Trustees are tYqULred to: seleci suitable countr.n8 policies and then apply them Co18¢¢n(ly. observe the rnethots 4rtd principles im the Chan"tsa% SORP. mbke jud8ements estim&t&5 thnt are TeLryonable and wudenL' Sle whether applicable ac£owitin8 S¢andards ve been follorf 8ubjeKi to any m4tcrial departures di$¢losed and explained in the financial swements. and prepare the finatKiai ststements on the 80iti8 concern bfilis UDle88 it is iTWPPTOPri8t¢ to presume that the charity w1 conts'nue ID busine89. Th¢ TTUSt¢¢s are respoAJsibl¢ for k¢¢pJn8 proper eontiO8 [Cd$ that disclos¢ with reosoDable accura¢y at any time th¢ financial ltIOn of the ch4n.ty aDd enabl¢ them to eTJsure thai the financial ststements comply with the Charities Act 2011, the applicable Chariti&s (A01 and Reports) Rc8uiatiOllS, alld the provisions of the cOnStition. The Trustees are also responsible for the a55ets of the charity atsd hence for t&king re8sonable sieps for the preY¢n¢ion arwj skn¢iioD of fraud and ottKr irregulan'ties. Approved by the TTU8tres of the clwity on.................... and sI¢d on it8 behalf by.. The Trustee Emma KitcbeDer LVO Mr C de Matto8 MBA TnJ81tt Paoe 7
Statenxnt of Flnandal Athitles for the Year Ended 31 March 2022 Uortstrlrted ReJ¢rleted Tot¥l 2022 Note tllconhe attd Endo7Yments fronL' Donations and Icgacies Investtnent income 360 62.243 3,500 3.860 62243 Total income 3,500 Expettdlture on: BAising fvnds Clwi&ble activities (21.IKJ3) (40,924) (21,003) 48,424) (7.51H) Total expenditure Gainsl]05ses oll itivtsthi¢nt 888ets 161.927) 136,176 I7.5) (69.427) 136.176 Net inco]D¢l(expenditur¢) Net movement in fijnds 136.852 4.000 132,832 136,852 {4,0001 132.852 Re¢oDcllAatl•tt of fuDdJ Total ndS brou¥ht forn¥d Total fijnds cned forward 2.512.612 34.625 30.625 2.547,237 13 2 680,089 Umstrkted ReJtrlct¢d Total 2021 Note Income and Ktsdowment• from: DonAti(>ns and legkcies Investment income 17.401 58.559 18.51)0 35,901 58,559 Total income 94.460 end1thre on: Raising ndS Charitable activilie8 (19,861) (19,8611 32,441 Total e4xnditure (44.802) 4103,553 17500) (52 J02) 403,553 Net incotne 434.711 I1,)0 Net movement funds 434.711 445,711 Re¢on¢iliatloll of fvuds Total fandi brht fonward Totsl funds CrIed fotward 2 101,525 13 2512,611 34.625 2,547,236 All of the chari5 activities derive fTom c4)ntinuing owations thwing the 8iK)v¢ Iwo periods. The funds br¢4kdovm for 2021 is Shown in nole 13. The Dotes on ge5 10 to 16 form an inte&ai part of these fillanC ststements. Paoe 8
(Regl8tradon number: 313525) Balance Sheet as at 31 March 2022 2022 2021 Note Flxed amets InvestsD¢nts 2.447.756 2.311,580 Current Amets Debtorg C&sh at bank ond in harwj io li 86 234 997 86 238071 235.083 238,157 Credhon: Amountj fllltyg due wlthlD ono ymr Net current •sxts 12 (2,501) 232,333 2.680,089 235,656 Net #ssetj 2.547236 Fyndi oftbe eharlty: Rulrleted Incon funds Restricted fun 30.625 34.625 Unre•trl¢tsd IMeon fund8 Unrcstricted fund8 Revaluation reserve 2,245,726 2.245,050 267,561 Total unr¢stricied fid$ 2 512.611 T171 fvnds 13 2.680,089 2,547.236 al statements on rAges 8 to 16 were Approv by the TTU8tees. And authorised ftir issue OD .. and $i8rt&J on their behirty.. tchentt LVO Tmsiee Mr C de Mattos MBA Tnte¢ Th¢ notes on pYdge5 10 to 16 forni all integral partof these fiDwial stsm¢nts. Page 9
Notes to the Financfial Statements for the Year Ended 31 Mareh 2022 l AccotIng poJkl¢J Statement of eompllanee The fwncial statements have t¢ prepHred ID awdance with Accounkng and Reporting by Chariti¢s'. Sthtement of Recommended Praetice ar4)lictsble to ¢111e8 preparing their accounts in rth)rdaTr¢e wiib the Financial R¢portin8 Standard applicable in the UK and Republic of Jreland (FRS 102} {cfftttLVC l January 2015) - (chariti SORP IFRS lff2)). the FltWKi Rwtin8 Stath applie4ble ill the UK and Republic of Ir¢l8nd (FRS 102) dj th¢ Charities kn 2011. BslJ of prepTAtlon Lord Kitchener National M¢morial Fund rncets the d¢finition of a public benefit entiry under FRS 102. Asscts attd liabtlities are initially recognised ai hislorical ¢os( or tyansa¢iion value unle8s otheNise stated in the relevant accouniin8 policy notrs. Exemptlon from prep$rlng a vdsh flow It*tement The charity opted to early &dopt Bulleun I publi$hed on 2 Febnw 2016 and h4ve thtt¢fore not included a ch flow Staent in th¢5e fllwicial statanents. G•ln% fonce The TnLs¢ees consid¢r that there are DO matrti&l YrtaIntieS abo the clwity$ #biliry to ¢ODtinue as a 8oin8 CODcern. Income endowments Voluntary incomc including dollatio gifK le8acies ¥nd 8t8nts that provide core fuDdin8 or #re of a gen¢r&l nature is reco8ntxcd when the Llharity hA8 Cntitlemcnl to the ineoTne. it is probabl¢ that thc income will b¢ receivcd and the amount iall be maqured with suffici¢DI r¢IAlity. Donatlons aDd legaeley Donations and le8acie5 aTe reco8niwJ on a receiv4ble basis when receipt is probable the ornouni can be retiably measured. Invutment Income Divldends are rec4>gmsryJ once the divRdEnd ha5 been declared and notification has been gEved of the dividend due. Expenditure All expenditure 18 recognIs on¢¢ there ts a le8al or ¢onstnJciive obligats'on to that expendin. it 1$ probabl¢ settlement As rEquired and the 8nM>Ullt ran be measured reliably. All costs are allocated to tbe applicable expellditure head8 that 8ggregate similar costs to that cat¢gory. Where costs cannoi be direcily Attributed to particulat headiogs they have been Allocated on a b&sis nSt with the use of resouwes, wilh ¢¢ntral staff Costs allocated on the ba$ts of time and deprecKation charges allated on the portion of the &ssei'5 use. Oiher support costs are allat0 based on the spre&l of staff costs. Rai$lng fullds These are costs incU¢d in attrathg voluntary the of inv¢sthi¢llts al those Incurred in trading activities that raise funds. PAwe in
P4otes to the Financial Statements for the Year Ended 31 March 2022 Charitable acdvldes Charitable expenditure compris¢4 those costs incurred by the cl)arity in th¢ tklivery of its acts"vities and s¢rvi¢es foT its beneficiaries. 1¢ in¢ludes both costs that can be all11¢d th"rectly ¢0 such activities aThJ th08¢ ¢051s of an indirect nale necess to support them. GraD¢ provlslons Provisions for 8rants 8r¢ m&d¢ WIKD th¢ i£ntiOn to 8 8rAnt has been LX)Tnmunicated to th¢ r¢cipienl but ther¢ 15 uncertainty about eithtt the titDiDg of the grant OT the amount of grant p4yable. Support eoBts Sypport costs include central fijltionS hav¢ b¢¢n allocatoj trb activiry cost ut¢8Ori¢S on & bas?s consistent with the use of resourtts. for example, allocaliD8 property costs by thor gre&s. or per capit4 staff costs by the time 8pent and other ¢0sts by their usage. GfjveTD•nfe eojts The.9e include th¢ ¢osty attributable io thc charity's complÈancc with ¢onslitulional and ststulory requiftmenl including audit, Stralc8ic IIIDnp8cin¢nt and ttC£S Ineety aThl reimburseil exp. TAxitloD The ¢hori¢y is considcred to P8 the tlS get oui in Paragrnph I Schedule 6 of the FÈnanee Aet 201 n and Ih¢refor¢ it meets the definition of a Ch"tble ¢ompamy for UK Corporation tsx purpoges. AcrdinglY, the harily is potentiglly exempt from tsxation in resp of 7cOlDe or capitsl gains received within categories ¢ov¢d by Chapter 3 Part I l of the Corporatim TLX A¢t 2010 or Section 256 of the T8x&tlgn of Char8eable Gains A¢1 1992, to ihe extent income or 88ins are applityl exclusively to charitsble purposes. Flxed auet Invertmtnts Fixed asset investments. other thon programnK related inveslments. are included 8t Matt value ot the balan¢¢ br¢¢ date. Realiscd losyei ar¢ L4Liulatrd a5 the di(fercJJcc bctwccn [¢& prL)ceeds and their market value ai thc slart of the YCWT, or th¢ir sthequent cosL ard are chuged or emlited to the Strtement of Financial A¢tivilies in th¢ periLwJ of disposal. Ut)reali$ed ]n8 8nd losses represent the movemart in nwk¢t values during the year are credited or ¢harg¢d io th¢ Ststement of Financi8] Activities bascd on th¢ mark¢t valu¢ ¥t tbe year end. Debtors DehLoTY aT¢ tKO8nis¢d initially at the trnwctiott walue. A pwovi8i4)n for the impainnent of the debtor 1$ estAbli$h¢d when there is objective evidence thai the nd will not b¢ able to ¢ollect all amounts due according to the origin81 t¢m]s of the Tec£ivables. Cx$h And ush eqvlvxleAts Cash and eash equiwdlenty eomprise cash OD hand and call depisits. aJMI otho short.t¢rnt highly qUid investments that are reIllY convertible to a known amouni ofcash and are subj1 to an insignificant risk of change in value. Fund structure Unrestrictcd income fijnds are general fijnth that available for se at the IneS discretion in fiJrtbemcE of the objectives of the ¢haritv. R¢stri¢t¢d iti¢om¢ funds ar¢ thos¢ dona for ill & Pthicul&r atra or for 4>ecific purpl the use of which is restridwj to that 8Tea orpurpose. Pate 11
Notes to the Financial Statements for the Year Ended 31 Mareh 2022 2 from donAtIotss #Dd Iy¢le Restrleted Totsl funds Ctknernl Donaiions and ICE1¢- Donalions from indtviths Regular wving and Capital doDati¢)Ds TDtsI for 2022 180 180 180 3,680 3,5) 360 3,5 3,860 T•t41 for 2021 18,5(K) 35,901 3 Invutmen In¢om¢ Unreitrlet¢d funds General Tot¥Jl fullds Int¢rest Teceivablc and similar income: Interest receivable on bank deposits Other income from fixed Ms¢t investtnents 620 61,623 620 61,623 Total ftsr 2022 62.243 62,243 Tot for 2021 58,559 58,559 4 ExpendltsTe on Chthtsbk actlvlll¢s Unr¢s¢rle¢ed Restrl¢ted nd To141 funds Ce*¢ral Note Grant fvTxling of activiti AllIKated supwirt e05L8 Governance Costs 34.5 2.452 3.972 7.5(Kl 42,000 2,452 3.972 Total for 2022 40.924 7.5(Kl 48,424 Total for 2021 24,941 7,5 32.441 PAgp. I ?
Flotes to the Finanefft ststements for the Year Ended 31 March 2022 S ADalyits of gov¢rDaA¢e and iupport ¢wts Governn¢e costs Unrestrleted funds Geoeral TotAI fund8 lrtd¢pendenl examiner fe¢s Examination of the fuwKial statthlleDL8 (Mer governan¢• costs 2,400 1,572 Tot•l for 2022 3.972 3,972 Totsl Cor 2021 O Trnltets remlln¢rtloD #Md expen No Trustees, nor any persons connected with them. have re¢£ived any rem¢[all0n from the ¢haTity durin8 the year. No trnstee5 have received #ny reimbuts&l expues from the clwrity thuJn8 the ye4r. 7 Indepelld¢nt ¢xAmlDerfi remunerntlDn 2022 2021 2.4(M) 2,500 8 Txx*tlo The clwity is a regi$tern] charity and is therefore exemp¢ from laxauon. Page 13
1¥4ote8 to the Financial Statements for the Year Ended 31 March 2022 9 Flxed 4Jge¢ Investments O¢ber fiDvuiments Unllthd Total Cost or Valu•tlon At l April 2021 Revalu#tion 2.311.580 136,176 2.311.580 136.176 At 31 March 2022 2 447,756 2 447.756 N¢t book vue At 31 March 2022 2.447.756 2,447,7S6 At 31 March 2021 2.311,580 2,311,580 10 Ikbtorl 2022 2021 Trade debtors 86 86 11 C•$h And ¢Ash eqUlett 2022 2021 C4sh at bank 234,997 2311,071 12 Credlton: due wlthln ome ye•r 2022 2021 Other creditors Accruals 249 2501 2,501 2.750 2.501 13 Fun BalAnct At 31 MHrch 21122 B41•n¢e *¢ I APTII 2021 Rewurces recvgnised Ullrestrleted fvnds General Funds Re8erv¢ fimd 2245.050 267.562 61603 (61.927) 2.245,726 403.738 136 176 2.512.612 61,7 136,176 2.649,464 Pqwp. 14
Notes to the FinaDclal Statements for the Year Ende4131 Mareh 2022 Otber BalMte at l ]Deomln8 Rewuree4 recognlged Apru 2021 resDurteA expended £•lMIOosK) BAl%nee #t 31 Mareh 2022 Restrleted fvndj Mid Kent College Derek Ridout Blythe Sappers BAE Sysrems Holdfast Individu41 Donation$ 20.750 (4.500) l6,250 2.000 875 875 1.500 (1,5th)) 5.5 5.5CN) 6,QO 1.5th) 34,625 7.5(Kl 30.625 Total fund• 2J47237 69.427 136,176 2.680.089 Other IDeonthit RewureeA recognld rewur expended 8In(lO) Balance at 31 Mareh 21J21 Balneé 1 I Aprli 2020 Ur¢strkted funds Gentrdl Genernl Fund 2213.892 75960 (44.802) 2,245,050 267 361 44.802 2.512,61 Restrleted funds Mid Kent College Derek Ridout Blythe Sappers BAE System8 Holdf&8t Individual Tr)na¢ions 8,750 15.11 (3,(Xll) 20.750 2,0 875 875 IJL (1.5LM>) (1.51N)) 5,500 23,625 34,625 Total funds 2.101525 94.460 (52,302) 403,553 2,$47.236 Pae 15
otes to the Flnanelal Ststements for the Year Ended 31 March 2022 14 All41 of Det asaets b¢tw¢¢n fvllds U•restrkted fvnds To¢Ai funds at 31 Marcb 2022 Fixed asset inv¢$trnts Current assets CuTreni liabilitie8 2.447.756 204.458 2.750 2.447,756 235,083 2.750 30.625 Total assets 2.649,464 30.625 2,680,089 Uttrestrkl Tot1 fund& It 31 Mreh 2021 R¢•trlcted General Fixed asset invwtsn¢nts Current asse1$ Ctsrrent liabilities 2.311,580 203,532 2.501 2.311,580 238,157 2,301 34.625 Total net aswts 2.512.611 34.625 2,547,236 IS St#if costj The aw8¥t¢ PayToU costs were as follows: 2022 2021 S¢*ff ¢•th durlng the yur were: Wages arml salari&% 14.412 13,992 No employee received ejn0lynDts of mort thatt £60.(IKI duTiDg the yeor IA
Independent Examiner's Report to the trustses of Lord Kltchener NatloDV41 Memorial Fund I repori to the ¢Iity Tste•S on my examination of the aecounts of the cb8xAty for the year ended 31 March 2022 whi¢h are set out on pages 8 to 16. liespectlve rnsponslbllltles ofTru81ee$ and examlner As the charity's Trustees of Lord Kitchener National Memoria] Fund you are respoJsibl¢ for the pr¢para¢ioll of th¢ xccounts in a¢¢ordaDce with the requirements of the Chariti¢$ A¢t 2011 ('the Act.). I rep()rt iry r¢spect of my exumination of the Lord Kit¢hcncr National M¢morial Fund's acLou415 carried t)ut undrr seLtion 145 of the 2011 Act aDd in carrying out my examination I hav¢ followed all the applIb]e Directions 8iven by the Charity Commission under section 145(5)(b) of the Act. Independent examler'¥ itatement I have completed my ¢xamin&lion. I confirni ihol no material matters have Come to my 4tt¢ntion in connection with the examinatii)n giving me ¢se lo beli¢v¢ that in any material re$pe¢t.' aeeouftting records were not k¢pt in respect of Lord Kitchenw Nlonal Memorial Fund as requiTed by Beetion 130 ofthe Act. (trr 2. thc ¢vlS do uot accord with thoBe records; or 3. the accounts do not wmply with the accounting requirement& eoncerning the fomi and wntent of accounL% Set out in the Charities IA¢¢tsunts and Reports} Regulationi 2008 other thèn any requiremenl that the aeeounts give a 'trne and fair view, which is not 4 matteT considered L part of an ind¢pend¢nl examillHtion. I hav¢ no concerns and bave Come across Do other matters in ¢oonection with the ex&mination to which ottention should be drawn in thL'S r¢po cr to enable a prop¢r undcrstandin¥ of the a¢¢ouDts to be reaehcd. AV.J aples BSC F Manningtony ACTA 8 High Street H¢athfield East Sus8ex TN218LS Pa@e 17