Charity re8iStsalion ryUM￿. 313525
Lord Kitchener National Memorial Fund
ATthu81 Rcport And Fin8ocial Ststements
for the Ye*r Ended 31 March 2022

Contsnts
Refere￿e and Adt￿￿trativc Dethiis
Trus¢ee5 Reprt
2to6
StAtement of T￿￿e¢s, Rwnsibilities
Stgt¢ment of FitiaD¢iai Activities
Balatt¢e Sbe¢t
Note$ to the FIDaD¢1￿ Sthtements
IOto16
Independent Examinevs Re￿rt
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 Mat￿9 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 Tn￿le¢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 signific￿t posiiive contribution ￿ society and who
are studying for a f￿$1 degree at utiiversity in the UK. In the p&sL the Fund has also avdrded F,uropean
Scholarships lo eligible cwodidates Studying ftt 8 M8St¢fs Dewe ID Business Administraiioii (MBA). Alihough
limitcd funding cau5cd post-8rnduat¢ schol8rsbRPS to be Suspend￿ with effe¢t from 2009. th¢'l'rusiees aim
io r¢instste a limitcd number orp05t-gr*ju￿e s¢holar5hips when ￿ndIng pemiits.ln Ihe year ended 318t Marcli
2022. there w¢r¢ 61 Kitchener Univu5ity SclKJlar5 Studying ai 40 wiiversliiL￿.
Publ1¢ benerai
The Trt￿te¢s confm thai they have Yeferred ro the 8llidance provided by the chgn.ty Coinmission QD public
benefit wben reviewing the Obje¢tive$ 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$9isI qualify￿8 former service ptrsonnel with fi￿er education. The
Trustee$ 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 perform*Dce
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 N*Jo8e 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 succ￿81}J1 applicaDts with
Royal Engineers perental background). one was fi￿d¢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¢ OT￿nisationS and
individual s￿rJ5orS 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 CO￿81der¢d tbe potential in]pact of
Covid-indueed fujancial tnarker volatility on scholorslu'p ful￿1ng 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 n￿MberS 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¢ p￿VIouS year..
• Interview panel members h&v¢ b￿rne confident with online proces8.
. Candidates w¢rt Comfor￿b]e io be intrtviewed from their I￿atIonS ￿ld n>)8t were familiar with the Zoom
. Co#si¢krable trav¢lliDg time athl tA￿SeS were saved:
. Members of it)iervi¢w panels did NA bave to tr&vel and thus weff Dot required w sacrifice fi￿] Y￿rkin8 thy$
for intervi¢ws: and
. Admini8tr41ion redu¢e¢ 8lthou8h TTh>re t￿e ￿ spent or8oni$ing zoom meetings with individu&l8 to
ensure the systan and wtrmlogy w&$ iti pl*e.
Thi$ procéÈ$ en&bled $4 ¢èndid4t¢e to be intoryiewed followin8 Teviews by thc Scholarshlp Commlnee, 20
scholarship w¢r¢ awarde(t
Feedback frorn ￿hol2￿h]p candidatrs was very POSitiv¢ and C￿h successful candidate W&$ #Warded a
$¢holarship of £1.51X), to be used in the furth¢rnnce of their ￿1￿9th.0n. The Conjmittee th¢relore a8re¢d thai the
remot¢ intetview pro¢e5s hwj been successfijl and that a hybrid sys*m 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 a￿1 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 ag￿n$t volatility in th¢ Fund's iIivcstment accoiillL Net &wts of the Fund on the 31st 2022
amounted to £2.680.089, up 5.20A from £2.547236 ai the sthrt of the fitwlcial yw.
Extreme fragility in ftnancial tDarkets bas coniitiucd and the É&sue of Ukraine aThl Russia is expectcd to have a
n¢garive impact on the value of th¢ FU[￿'S investttmts througboui 2022 and beyond. De8Pite this. th¢ Fund
remdit]s in a 80und fmancial position th5 a long-toin appToacb to investmem. The TnJste¢s Currently
consider that thc Fulld l)as sufficieDt c&th resour¢es ￿ coniillu¢ awarding se1￿]&r$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 fut￿re 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 EX￿ul1Ve CoDimittee to ]D￿C4Se y￿￿e of each 8cholar8htp from £1,000 to
£1,500 with effeLt from tbe 202￿21 fillancial ye•r, fi￿ther 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 Obj￿tiVe 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 r￿lt 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 undcrgrnd￿tC alld 1x)St-￿te scholor5hips, as well as appropriat¢ support to the
KSA, 1$ achieved within budgetary coLstrau)L8. The Scholafsbip Commit*e and tbe Secretsry continue (o
monilor and ￿¥1$¢ on the mst appropriafr u8¢ of the Fund's rwur¢¢s.
The nuttthEr of schola￿lp8 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￿ COW￿11
A nuTnber of C(rtmcil appoinmKnts are eX￿fiel0 these aTe in the Royol Charter. The remainder of
the 4pwintm¢nL% to cour￿11 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 ex*rnal 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 re￿rd to misiee tr*iDing aThJ hav¢ been 8uided ty the HMRC 8nd Chority Con￿ls&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 Tn￿etS elcetronically.
Pa￿5

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 S￿Ck 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 Accept￿1 AccouDting Practi¢¢) and applicable law at
r¢gulatsons.
The law applicable to chtirities requires the Tr￿$1¢49 to prepar¢ financial stalements for each financial year
which ￿ve a true and fair view of the state of 4ffw.rs of th¢ charity arKI of the incomin8 resources and
8pplie8tion of resouTces of the ¢haTity for th* peTicd. In prepari￿ th￿¢ fina￿1a1 sta*mettts. the Trustees are
tYqULred to:
seleci suitable ￿countr.n8 policies and then apply them Co￿18¢¢n(ly.
observe the rnethots 4rtd principles im the Chan"tsa% SORP.
mbke jud8ements estim&t&5 thnt are TeLryonable and wudenL'
S￿le whether applicable ac£owitin8 S¢andards ￿ve been follorf 8ubjeKi to any m4tcrial departures
di$¢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 w￿1 conts'nue ID busine89.
Th¢ TTUSt¢¢s are respoAJsibl¢ for k¢¢pJn8 proper e￿o￿ntiO8 [C￿d$ 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 (A￿0￿1￿ and Reports) Rc8uiatiOllS, alld the provisions of
the cOnSti￿tion. 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 c￿ned 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 br￿ht fonward
Totsl funds C￿rIed fotward
2 101,525
13
2512,611
34.625
2,547,236
All of the chari￿5 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 f*llltyg 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 fi￿d$
2 512.611
T17￿1 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
Tn￿te¢
Th¢ notes on pYdge5 10 to 16 forni all integral partof these fiDwial sts*m¢nts.
Page 9

Notes to the Financfial Statements for the Year Ended 31 Mareh 2022
l Acco￿￿tIng 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) d￿j th¢ Charities kn 2011.
B*slJ of prep*TAtlon
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 c￿h
flow Sta￿ent in th¢5e fllwicial statanents.
G•ln% fonce
The TnLs¢ees consid¢r that there are DO matrti&l Y￿rtaIntieS 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¢I￿Ality.
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 head￿8 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 ￿nS￿￿t with the use of resouwes, wilh ¢¢ntral staff
Costs allocated on the ba$ts of time and deprecKation charges all￿ated on the portion of the &ssei'5 use.
Oiher support costs are all￿at0￿ based on the spre&l of staff costs.
Rai$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 all￿11¢d th"rectly ¢0 such activities aThJ th08¢ ¢051s of an
indirect na￿le 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 fijl￿tionS 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 t￿￿tC£S Ineety aThl reimburseil exp￿￿￿.
TAxitloD
The ¢hori¢y is considcred to P￿8 the t￿lS get oui in Paragrnph I Schedule 6 of the FÈnanee Aet 201 n and
Ih¢refor¢ it meets the definition of a Ch￿"t￿ble ¢ompamy for UK Corporation tsx purpoges. Ac￿rdinglY, the
harily is potentiglly exempt from tsxation in resp￿ of 7￿cOlDe 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 Ma￿tt 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 re￿IllY convertible to a known amouni ofcash and are subj￿1 to an insignificant risk of
change in value.
Fund structure
Unrestrictcd income fijnds are general fijnth that available for ￿se at the In￿eS 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 ICE￿1¢￿-
Donalions from indtvith￿s
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
Govern*n¢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¢r*tloD #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 v￿ue
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 eqU￿lett￿
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
Bal*Mte 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 recognl*d
rewur
expended 8*In￿(lO￿￿)
Balance at
31 Mareh
21J21
Bal*neé *1 I
Aprli 2020
U￿r¢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
Pa￿e 15

otes to the Flnanelal Ststements for the Year Ended 31 March 2022
14 All4￿1￿ of Det asaets b¢tw¢¢n fvllds
U•restrkted
fvnds
To¢Ai funds at
31 Marcb
2022
Fixed asset inv¢$trn￿ts
Current assets
CuTreni liabilitie8
2.447.756
204.458
2.750
2.447,756
235,083
2.750
30.625
Total assets
2.649,464
30.625
2,680,089
Uttrestrkl
Tot*1 fund& It
31 M*reh
2021
R¢•trlcted
General
Fixed asset invwtsn¢nts
Current asse1$
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 ejn0lyn￿Dts 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 ¢I￿ity T￿ste•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 applI￿b]e
Directions 8iven by the Charity Commission under section 145(5)(b) of the Act.
Independent examl*er'¥ 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 N￿lonal Memorial Fund as requiTed by
Beetion 130 ofthe Act. (trr
2. thc ￿¢￿v￿lS 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