Charity registration number: 313525
Lord Kitchener National Memorial Fund
Annual Rew)rt and FinanciaI Statrments
for the Year Ended 31 March 2024

CoDteDts
Reference and Administrative Detsils
Trustees, Report
2to5
ststement of Trnstses, Responsiblities
Ststement of Financial Activftties
Balance Shect
Notes to the Financial Statements
9t015
Independent Examinees Report
16

Reference and Administrstive Details
Trnste£s
The Lady Emma Kitchener LVO, President
Lieutenant General Sir David Bill KCB. BSc(Eng), MtinstRE
Mr Christopher de Mattos Bsc(Eng), CED& MtMechE. MBA. Treasurer
Mr Nicbolls Macfarlane BA
Mr Simon C Piggott MA (Cantab), MBA. MSC
Ms Victoria Provis BA. MBA
Ms Susan Saunders BA (Hons)
Mr Paul Skipworth MEng (Hons). ACGI. MBA
Secretsry
Lieutenant Colots¢l M R Bassett BEM
Prineipal Office
2 New Cottages
Old Chatham Road
Maidstone
Kent
ME14 3AJ
Chartty Registration Number
313525
Bankers and Investment Advisors National WestminsteT Bank PIC
250 Bishopsgate
London
EC2M 4AA
COIF ChaTity Funds
CCLA Investment Managcmeut Limited
One Angel Lane
Londo
EC4R 3AB
Barclays Invesiment Solutions Limited
Level IS
I Churchill Place
London
E14 5HP
Independent Examiner
Manningtons
High Street
Heathfield
East Sussex
TN218LS
Page I

Trustees, Report
The Trnstees present the annual report together wtth the financial statements of the charity for the year ended
31st March 2024. The TTUStees who served durlng the year and up to the date of this report are 5¢t out on page l.
Structsre
The Lord Kitchener National MemoriaI Fund (the -Fund-) operdtes as a Charitable Tn￿t which was ¢stablished
by Royal Charter on the 20th December 1919. The Trust is registered as an unincorporated charity with the
Charity Commission. registered number 313525.
Appointment of Trustees and Countil
A number of the Council appointments are ex-officio and these are named in the Royal Charter. The remaining
ap￿Intments to Council are by invitstion.
The Trustees are all memlxt5 of the Council. Tn￿ and members of the Executive Committee may be
selected from Council or from externaI SOUTce5 in order to ensure that appropriate skill sets and experience are
available to the Fund. The Trustees intend to reflect society by maintsining membership Principally from the
Aryned Services. fijnner scholar4 the legal profession and those with a specific int¢rest in training and
education. The President and Chairman are el￿ted by the Council.
There were no ¢hanges to the Tn￿e¢S and Council during the reporting peri(￿. All members of the Committee
are up to date with regard to trustee training and have been guided to the HFdRC and Charity Commission web
sites for continuation training. Copies of the Charity Commission's guidance on the Thtie5 of a Trustee" have
also been circulated to all Tn￿teeS elethnically.
Objectives and Aetivlties
The Lord Kitchet]er National Memorial Fund provides educational scholarships to fonner servicemen and
women and to the sons and daughters of parents tho have served in HM Amed For¢es. Scholarships are
currently offered to candidates who are expected to make a sigmificant positive contribution to Society and who
ar¢ studying at university in the UK. Following a period during which financial considerntions Testricted support
to undergrdduate students onty. the Trustees are pleased to report the reintroduction of postgraduate awards
during the 2023-24 financial year. Eligible candidates may now apply for awards to support undergraduate,
postgraduate or doctoral studies.
In the year ended 315t March 2024, there were 103 Kitchentr Scholars studying at 34 universities.
Publie Benefit
The Trustees ¢tsnf￿ that thcy havc refe￿ed to the guidance provided by the Charity comm￿10n on public
benefit when reviewing the Objectives and Activiti&s of the Fund. The TTUStees aim to increase the number of
schools at which Kitchener Scholarships are promoted and pupils from 130 schools were encouraged to apply in
2023. The Trustees also aim to assist qualifying fonner servi¢e personnel with further education. The Trustees
are satisfied that the award of scholarships to suc£essful candidates from military backgrounds is in accordance
with the objects of the Fund.
Page 2

Trnstees, Report
Achievements
Th¢ Tn￿te¢S are deligbted to report thaL despite continued volatility in financial Ma￿ets durftng the accounting
year, the Fund was able to award 35 scholat5hips. two of which were to gap year students whose award has been
carried forward to the a￿emIC year starting in September 2024. Including one deferred award, payments were
made to 34 scholaTS. 18 of whom were supported by the Fun( seven by Annington Homes Limited, three by
Mid Kent College (specifically for guccessful applicants with a Royal Engineers parental background). two by
Holdf&5t Training Services, thrce by formeT scholars and one by The Btythe Sappers Association. Eight
undergraduate scholars had secured places at Oxbridge.
The Trustees wish to record their sincere thanks to Amiington Homes Limited for their donation of £25,000
during the year, which allowed the Fwid to support the bulk of four postgraduate awards in addition to the seven
undergraduate scholars mentioned above. The Fund would also like to show its appreciation to the organisations
and Individual sponsors wbosc contributions have made a significatst difference to the support that the Fund h&s
been able to offer.
Scholarship Award Process
Following the introduction of remotc, &$ opposed to face-trpface. Inte￿1¢WIng during the COVID pandemic. the
Executive Comrnittee has now fulty embwed this approach. Interview timings can more easily be adjusted to
meet the requirements of int¢rview panels and interviewe4 including pemiitting the interview of overseas
candidates.
There is evidence that the ¢ducation system is settling down after the disrnption occasioned by COVID and
associated grade inflation. This return to a more 5tandardised grading regime helps the Scholarship Committee
in the process of selecting candidates for interview.
Following the de¢ision of the Executive Committee to increase the value of each scholarship from £1,500 to
£2,000 for the 2023-24 financial year. the Fund also re-launched postgraduate scholarships during the year. Four
postgraduate awards of varying amowits were granted to existing Kitchener Scholars. two pursuing doctorates
and two pursuing M&8teTS qualifi¢*ions, tti¢urring totsl expenditure of £14.000.
The Kitchener Priz4 awarded to an outstanding candidate sh￿Y]ng subjects relating to Science. Tccbnology,
Engineering and Mathematics (SIEM) by the PresidenL w&g PTesented to Gemma Capps who is r￿dIng for a
BA in Medicine at Keeble College. Oxford.
Finance
Financial results for the year ended 3 1st March 2024 are set out on page 8 and show that as at 31st March 2024.
the value of investments had increased by 10.40/0, to £2.593,953 (2023: 2.350,292). In addition, the Fund beld
cash of £173.556, much of which was invested in low-risL interest-bearing a￿OUnts as a buffer against
volatility in the Fund's investment account. Net wets of the Fund on the 31st March 2024 amounted to
£2,760,928. up 9.0 % from £2.533,180 at the start of the financial year, l)oosted by legacy Aft￿me of £74,187.
Unce￿Inty in financial markets contitiucd during the year. with the outhreak of hostilities in Gaza adding to
concerns regarding the Ukraine conflicL However, after a 4.00/0 fall in the value of investtnents in the 2022-23
financiaI year, it was encouraging to see the 10.4QA reLx)very during the year to the 31 st March 2024. The Fund
remains in a sound fmancial posÈtion and takes a long-tem) approach to investment. The TTUStees currently
consider that the Fund has sufficient wh resources to continue awarding scholarships for the next two years
without withdrawing money from invcstments. However, in order to gtwd against a material setback in the
value of investments. some withdrawal from investments is likely in order to maintsin a healthy cash balance.
During the reporting perio4 the Finance Committee held two meetings at which the Fund's investments were
reviewed and a number of proposals were recommended to the Executive Committee. The Council agreed to the
Finance Conllnittee's 5 year plan and approved the budget for 202415 at the Fund's AGM on the 14th November
2023.
Page 3

Trustees, Report
Investment Risk
The Executive Committee monitOTS risks to the Fund at its biannual meetings. One of the principal risks faced
by the Fund is poor investment perforniance, as this would ￿duce the amoutrt of money available to invest in
scholarships. The Committee believes thaL in order to gener8te acceptable long-tetm returns. it is necessary to
take a ce￿Ill amount of risk and a moderate investment risk profile has been adopted. The Fund's investments
are held in the Barclays Charity Fund and the perfonnance benchmark is the ARC Steady Growth tndex. This
implies that quity investtnents account for approxitnately 6(k80% of holdit)gs iti a diversified portfolio.
In order to mitigate the risk of investment lo&ses in the sbort term, the Fund holds sufficient to cover
expenses for approximately 18 months. There is also a risk of investment underperfornwice in the longer tern]
and thi5 is monitored by the Finance Committee, with a full review of cxisting and potential investment
managers undertaken approximately every five years. Such a review is expected to take place during the
202425 financial year, with a report to the Exe¢utTve Committee during 2025.
PIAn5 for the Future
The Trustees WAII continue to rely principally on the long-tenn apprxiation of invesknents and income
therefrom in order to wver the nmning costs of the Fund and the cost of scholarships. Although the value of
¢quity inv¢stments can fluctuate stgnificantly in the short term. it is considered that the ¢uThen( moderate risk
stance remains appropriate in meeting the Fund's long-temi objertives. In order to mitigate the risk of stock
market volatility, it is planned that a c&sh buffer of approximately 18 months. expenditure will be maintained.
The Tn￿tee$ have carefi￿]Y Lx)nsidered plans for the award of scholarships ID 2024 and 2025. They have
oncluded that the objective of awarding approximately 20 under￿Zduate scholarships from the Fund each y¢aT.
together with a further five from restricted funds, should stand. Furtherniore. the Fund will continue with
postgraduate awards. Although this may result in a limited drawdown of capital in the short term. it is hoped that
external fundin& such &$ Sponsorship from Annington Homes Limitr( will perniit the achievement of this aim.
The Secretary, on behalf of the Srholarship Committee. will continue to poll membets of the Fund's Council
and the Kitchener Scholars, Association regarding the most effective use of the Fund's resources. This ongoing
review aims to ensure an appropriate balance between undergraduate and postgraduate scholarships. as well as
appropriate support to the KSA, is a¢h1￿cd within budgetary constraints.
The number of scholarships to be awarded will continue to be reviewed in fi]ture year5 and extern￿ financial
support for additional awards will be soughL The Trustees intend that the Fund should continue to provide
support to the Kitchener Scholars, Association in line with the charitable objects of the Fund.
Page 4

Trustees, Report
A thll list of Vice Presidents. 2nd CouncAI Members as at the 31st Mar¢h 2024 is:
PRESIDETrrr The Lady Ernma Kitchener, LVO *
VICE PRESIDEFUS
His Grare the Lord Archbishop of Canterbury
His Grace the Lord Archbishop of York
His Eminence the Archbishop of Westhiins
The Free Churches, Moderator
The Very Rev the Chief Rabbi
The Chainnan of the Baltic Exchange
The ChaiThnan of Lloyds
The Chairnlan of the Stock Exchallgc
Major General R L Prtk, CB, BSc(Eng). ￿n& FICE MlnstRE
Air Chief Marshal Sir Andrew Wilson. KCB, AFC
THE COUNaL
Chaiman. The Lady Emma Kitchener. LVO •
Treasurer. Mr Christopher de Mattos, BSdEng). CEng, MtMechE, MBA*
Members: The Lord Provost of Aberdeen
Mr Robert A5COt¢ MA
Lieutenant General Sir David Bill. KCB, BSc(EDg). MtnstRE *
The Lord Provost of Dundee
The Rt Hon the Lord Provost of Edinburgh
The Rt Hon the Lord Provost of Glasgow
Air Chief Mat5hal Sir Clive Load¢r. KCB. OBE, At
The Rt Hon the Lord Mayor of London
Mr Nicholas Macfarlane. BA
Surgeon Commander Andrew Murrison, RNK MP
The Very Rev the Dean of St.PauJ's
Sir Tom Phillips. KCMG
Mr Simon PiggotL MA (Cantab). MBA. MSC*
Ms Victoria Provis. BA, MBA*
Ms Susan Saunders BA (Hons)
Mr Paul Skipworth h￿ng (Hons), ACGI. MBA*
* Denotes Trustee and member of the Executive Committ¢¢.
The amiual re￿rt was approved by the Trustees, of the clwity on 15 October 2024 and signed on its behalf by:
Emma Kttch
er LVO
TNstee
Mr Christopher dc Mattos BsrfEng). CEng. MtMechE. MBA
Trustee
Page 5

Statement of Trnstees, Responsiblities
The Trustees are resp)nsible for preparing the financial statements in accordance with the United Kingdom
Accounting Standards (United Kingdom Generalty ACC￿ted Accounting Practice) and applicable law and
regulations.
The law applicable to charities requires the Trustees to prepare financial statements for each financial year
which give a tnje and fair view of the State of affairs of the charity and of the incoming resources and
application of resources of the charity for that period. In preparing these financial statements. the Trjstees are
required to:
select suitable accounting ry)licies and then appty them consistentty"
observe the methods and principles in the cP￿ritieS SORP.
make judgements and estirnates that are T￿Onable and prudenL
stst¢ wheth¢r applicable accounting standards have been followed. sthject to any material departures
disclosed and explained in the financial statements" and
prepare the financial statements on the going concern basis unles5 it is Ènappmpriate to presume that the
charity will continue in business.
The Trustees are responsible for keeping proper accounting records thai disclose with r¢asonable accuracy at
any tim¢ the financial position of the charity and enable them to ensu￿ that the financial statements comply
with the Charities Act 2011, the applicable Charities {A¢￿U￿ts and Reports) Regulations, and the provisions of
the constithtion. The Trustees are also resry)nsible for Safeguarding the &ssets of the chwity and hence frir tsking
reasonable steps for the prevention and de*ction of fraud aud other irregularities.
Approved by the T￿￿teeS ofthe charity on 15th October 2024 and signed on its behalf by:
Trustee
Mr Christopher de Mattos BsclEng). CEng, MtMechE, MBA
Trustee
Page 6

Statement of Financial Activities for the Year Ended 31 March 2024
Unrestritted Restricted
funds
Dds
Total
2024
Note
Income and Endowments from:
Donations and legacies
Investment income
77,492
6.515
24,000
101,492
6,515
Total income
84.007
24.000
108,007
Expenditure on:
Raising fimds
Charitable activities
(24,429)
(54.492)
(24.429}
(100,492)
(46,000)
Total expenditure
Gains1105ses on investment assets
(78,921)
243,662
(46,000)
(124.921)
243.662
Net incomel(expenditure)
Net movement in fimds
248,748
(22,000)
226.748
248.748
(22.000)
226,748
Reeonciliation of funds
Totsl funds brought fonvard
Totsl fimds carried forward
2.495,055
38.125
2,533,180
13
2,743.803
16,125
2.759.928
Unrestrirted
funds
Restricted
funds
Total
2023
Iyote
Ineome and Endowments from:
Donations and legacies
Investment income
Other income
460
2,708
300
22,500
22,960
2.708
300
Totsl Income
3,468
22,500
25.968
EJpenditure on:
Raising fundg
Charitsble activities
{18,347)
42.067)
(18,347)
(57,067
(15,0130
Total expenditure
GaIn￿lOSseS on Trnvcslment assets
(60.414)
{97.465}
{15,000)
(75.414)
97.465)
Net (¢xpenditur¢yincome
154.411)
7.500
(146,911)
Net movement in fimds
(154.411)
7.500
(146.911)
Reconeili4tioa of
Total funds brought forward
2.649.466
30.625
2,680,091
Totsl funds carried forward
13
2.495.055
38.125
2,533,180
All of the charity's activities derive from continuing operations during the aknve two periods.
The fimds breakdown for 2023 is shown in note 13.
The notes on pages 9 to 15 forni an integral part of these fm2n¢ial statements.
Page 7

(Registration llvmber: 313525)
Balauce Sheet as at 31 March 2024
2024
2023
Note
Filed assets
Investments
2.593,953
2,350,292
Current assets
Debtors
Cash at bank and in hand
io
180
173,556
li
185,640
173,736
185,640
Crediton: Amollnts falling due within one year
Net current assets
12
7.761)
(2.752)
165.975
182.888
Net assets
2,759.928
2,533.180
Funds of th¢ charity:
Restricted income ￿ndS
Restricted fuuds
16,125
38.125
Unrestricted income ￿ndS
Unrestricted funds
Revaluation reserve
2,19),867
549,936
2,188,781
306,274
Totsl unrestricted funds
2,743.803
2,495.055
Total funds
13
2.759.928
2,533.180
The financial statements on pages 7 to 15 were approved by the Tn￿tees, and authorised for issue on 15th
(ktober 2024 and signed on their behalf by:
ma
Itchen
LVO
T￿S
Mr Christopher de Mattos Bsc(Eng), CEn& M[mec￿ MBA
Trustee
The notes on pag&$ 9 to 15 fornj an integral part of these financial statements.
Page 8

Notes to the Financial Statements for the Year Ended 31 March 2024
l AceouDtRng policies
Statement of Compliance
The financial statements have been prepared in acwrdance with Accounting and Reporting by Charities."
Statement of Recommended Practicc applicable to Charities preparing their accounts in accordance with the
Financial Reporttng Standard applicable in the UK and Republic of Ireland IFRS 102) (effective l January
2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of
treland (FRS 102) and the Charities Act 2011.
Basls of preparation
Lord Kitchener National Memorial Fund meets the definition of a public ben¢fit entity under FRS 102. Assets
and liabilities initially rxognised at histOriC81 wst or ttwaction value unle&8 otherwise stated in th¢
relevant accounting policy notes.
Exemption from preparing 4 cash flow statement
The charity opted to early adopt Bulletin I published on 2 Febnwy 2016 and Iw therefore not included a cash
flow statement in these financial statements.
Going eontern
The Trustees consider that there 15 no material uncertainties about the cbaritys ability to continue as a going
oncern.
Income 2nd endovrnieDts
Voluntary income including donations. gifts, legacies and grants that provide ¢ore fi￿dIng or are of a general
nature is recogniscd when the charity has entitlement to the incA)me. it is pmbable that the income will be
received and the amount can be me&8ured with sufficient reliabiiiry.
Donations and leggcies
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be
reliably me&8ured.
Investment ineome
Divid¢nd5 are recognised once th¢ dividend has been declared and notifiLxtion b&8 been received of the dividend
due.
Expenditure
All expenditure is recognised once there is a legal or co1￿ctIVe obligation to that expettdAture. it is probable
settlement is required and the amount can be me&sur¢d reliably. All costs are alloc*d to the applicable
expenditure heading that aggregat¢ Similar costs to that category. Where wsts catmot be direcdy attributed to
particular headings they have b¢¢n allocated on a basis consistent with the use of r¢50urces. with ¢¢ntrnl staff
costs allocated on the b&sis of lime spcnL and d￿reCIatIon charges all0￿d on th¢ portion of the asset's use.
Other support wsts are allocated based on the spread of staff costs.
Raising funds
These are costs incutred in atlracting voluntary income. the management of inveslments and those incurred in
trading actvvities that rdisc funds.
Page 9

Notes to the Financial Statements for the Year Ended 31 March 2024
Charitable activities
Charitsbl¢ expenditure comprises thos¢ costs incuTred by the charity in th¢ delivery of its activitie5 and services
for its beneficiaries. It includes both costs that can be aIlocated directly to such activities and those costs of an
indirect nature necessary to 5UPPOrt them.
Grant provisions
Provisions for grants are made when the ititention to make a grant has been communicated to the recipient but
there is uncertainty about either the timing of the gTant or the amount of grant payable.
Support costs
Support costs include central fimctions and have been allocated to activity wst ca*gories on a basis consistent
with the use of resources, for exarnple. allocating property by floor areas, or per ¢apit4 staff wsts by the
time spent and other wsts by their usage.
Governance costs
These include the costs attributable to the charity's Compliance with constitutional and statutory requirements,
including audiL strategic management and trustees meetings and reimbursed expenses.
TaxatlOD
Th¢ charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and
therefoTe it meets the der￿ltiOn of a charitable company for UK wrporation tsx purposes. Accordingty, the
harity is N)tentialty exempt from taxation in resp#t of income or capital gains received within categories
overed by Chapter 3 Part I l of the CoTpofdtion Tax Act 2010 or Section 256 of the Taxation of Cha￿eable
Gain5 Act 1992. to the extent that such income or gain5 are applied exclusively to charitable purFN)ses.
Fixed asset investments
Fixed asset investments, other than pmgramme related inv¢slments, are included at market value at the balance
sheet date. Realised gatns and lo&ses on investments are calculated as the difference between sales proceeds and
their market value at the start of the year, or their subsequent cosL and are charged or credited to the Stat¢ment
of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movernent in market value5 during the year and are credited or
charged to the Statement of Financial Activities b&%ed on the market value at the end.
Debtor5
Debtors are recognised initially at the transaction value. A PTovision for the impairment of the delrtor is
established when there ts objective evidence that the fimd will not be able to collect all amounts due according
to the original tenns of the receivables.
Cash gnd eash equivalents
Cash and cash equivalents u)mprise cash on hand and call deposits, and other short-tern) highly liquid
investments that arc readily convertible to a known amount of cash and are subjert to an insignificant risk of
hange in value.
Fund structure
Unrestricted income fimds are general funds that are available for use at the trths discretion in f(rtherdnce of
the objectives of the charity.
Restrithed income funds are those donated for use in a particular area or for specific purposes. the use of which
is restricted to that area or PUTPOSe.
Page 10

Notes to the Financial Statements for the Year Ended 31 March 2024
2 Income from donxtlons •nd legaties
Ullrestricted
funds
General
Restricted
fuDds
Total
funds
Donations and legacies.
Donations from it)dividuals
Legacies
R¢gular giving and capitsi donations
1.125
74.187
2,180
1.125
74,187
26.180
24,000
Total for 2024
77,492
24,000
101,492
Total for 2023
460
22.500
22,960
3 InvestmeDt income
Unrestricted
nds
General
Total
fuDds
Interest receivable and similar income.
Interest reccivable on bank deposkts
6.515
6,515
Total for 2024
6.515
6.515
Totsl for 2023
2,708
2,708
4 E￿endI¢ll￿ on tharitable activities
Unrostricted
funds
General
Restrictsd
ds
Total
nds
Grant fimding of activities
Allocated support costs
Governance costs
40.000
9,689
4.803
46.000
86,000
9,689
4,803
Total for 2024
54.492
46,000
100.492
Total for 2023
42.067
15.000
57.067
Pagell

Not£$ to tbe Finanei21 Statements for the Year Ended 31 March 2024
5 Anatysis of governance and support tosts
Governance costs
Unrestrieted
nds
General
Totsl
nds
Independent examiner fees
Examination of the financial statements
Other governance costs
2.400
2.403
2.400
2,403
Totsl for 2024
4,803
4,803
Total for 2023
3.860
6 Trustees, remuneration and
No Tr￿te¢s, nor any persons connected with them. have received any remuneration from the charity during the
year.
No tnlstees have received any reimbursed expenses from the charity during the year.
7 Independent eumintr's remnnerAtion
2024
2023
Examination of the financial statements
2.400
2,400
8 Taxation
The charity is a registered Charity and is th¢refor¢ rxempt fro￿ taxation.
Page 12

Notes to the Financial Statements for the Year Ended 31 March 2024
9 Filed $￿et investments
Other investments
Unlisted
investmeDts
Total
Cost or Valuation
At l April 2023
Revaluation
2,350,292
243,661
2J50292
At 31 Mwch 2024
2,593,953
2,593.953
Net book value
At 31 March 2024
2.593.953
2,593,953
At 31 March 2023
2,350,292
2.350.292
111 Debtor5
2024
Other debtors
180
11 Cash and cash equivalents
2024
2023
Cash at bank
173.556
185,640
12 Creditors: amounts falling due Ivithin one year
2024
2023
Other creditors
Accruals
5.262
2.499
252
2,500
7.761
1752
13 Funds
Other
Resources recognised
expended
gainsloosses)
Balance at
31 March
2024
Balgnee at I
Incoming
April 2023 resourrn5
Unrestricted thnds
General
General Funds
Reserve fund
2.188,781
306274
24.945
(78,921)
2.134.805
549,936
243.662
2.495.055
24.945
78,921)
243,662
2.684.741
Page 13

Not&8 to the Financial Statements for the Year Ended 31 March 2024
Otber
Incoming
Resources
recognised
resourees e4btnded gainsloosstt)
Bal4nce at I
April 2023
Balance at
31 March
2024
Restrlcted funds
Mid Kent College
Derek Ridout
Blythe Sappers
Holdfast
Individual Donations
Annington Homes
16250
2.000
2J75
5.500
7.000
5.000
(6,000)
(2,000)
(2.000)
(4.000)
(4.000)
(28.000
10.250
375
1,500
3.000
1.000
24.000
38,125
24,000
(46,000
16,125
Totsl funds
2.533.180
48.945
(124.921)
243.662
2,700.866
Other
reeognised
gains/Ooss&8)
Balance At
31 March
2023
Balance at I
April 2022
Incoming
rosoDrces
Resources
ptnded
Unrestricted funds
General
GeneraI Funds
Reserve fund
2245,727
403,739
3.468
(60,414)
2,188,781
306,274
(97,465)
{97.465)
2.649,466
3,468
(60.414)
2.495,055
Restricted
Mid Kent College
Derek Ridout
Blythe Sappers
BAE Systems
Holdf&st
Individual Donations
ADnin8ton Homes
16.250
2.000
875
16,250
2,000
2.375
7.500
1,500
(6,000)
{1s00)
5,500
6.000
5,500
7.000
5,000
1.000
12,500
(7,500
30,625
22,500
(15,000)
38,125
Totsl ￿lldS
2,680,091
75.414
25.%8 2,533.180
97.465
Pag¢ 14

Notes to the Financial Statements for the Year Ended 31 March 2024
14 Analysis of net assets between funds
UDrestrict¢d
Total funds at
31 March
2024
Restrieted
General
Fix¢d asset investments
Current assets
CuTrent liabilities
1593.953
116.611
(7,761)
2,702.803
2.593,953
143.736
(7.761)
27,125
Totsl net assets
27.125
2,729.928
Unrtstricted
funds
General
Total fund5 at
31 March
2023
nds
Fixed asset investments
Current &ssets
Current liabilities
1350.292
147.515
2.752
2.350.292
180,640
(2,752
33.125
Total net assets
2,495.055
33,125
2.528,180
15 Staff costs
The aggregate payroll costs were as follows..
2024
2023
Stsff tosts during the year were:
Wages and salaries
17,181
15.332
No employee received emoluments of more than £60,000 during the y￿.
Page 15

Independent Examiner's Report to the Trnstees of ￿rd Kitchener National Memorial
Fund
I report to the charity Tn]ste¢s. on my examination of the accounts of the charlty for the year ended 31st March
2024 which are set out on pages 7 kn 15.
Respe¢tive respoDsibilities of Trustees, and euminer
As T￿SteeS of Lord Kitchener NatIOt￿ Memorial Fund you are reS￿nSIble for the pwaration of the accounts
in accordance with the requirements of the Chariti&s Ad 2011 (Ihe Act,).
I report in respert of my examin*ion of the Lord KitrheneT National Memorial Fund's accounts ¢wried out
under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable
Directions given by the Charity Commission under section 145(5Xb) of the ACL
Independent examiner's statement
I have ¢omplet¢d my examination. I confimi that no material matters have come lo my attention in connection
with thc examination giving me cause to ￿lieve that in any material respect.
l. acwunting rcwrds were not kept in respert of Lord Kitchener National Memorial Fund as required by
section 130 of the Ac¢ or
2. the acwunts do not accord with those records. or
3. the accounts do not ¢omply with the accounting requirements concerning the forni and ￿ntent of accounts
set out in the Charities (Acwunts and Reports) Regulations 2008 other than any requirement that the
accounts give a 'true and fair view which is not a matter wnsidered as part of an independent
examination.
I have no concerns and have come acr055 no other mattets in connection with the examination to which attention
should be dra￿ in this re￿rt in order to enable a proper und¢TStandAng of the accounts to be reached.
A E J Staples BSC FCA CTA
ManningtODS
8 High Street
Heathfield
E&st Sussex
TN21 8LS
Page 16