ChArtty reglstratlon nutnber 8110055 THE ROYAL YEOMANRY REGIMENTALASSOCIATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR EM)ED 28 FEBRUARY 2023 THE ROYAL YEOMANRY REGIMENTALASSOCIATION LEGALAND ADMINISTRATIVE INFORMATION Tru5te¢5 Lt Col S Memenemy Capl J A511ey Col N Astbury A Frdttklin Mr R Llewellyn {Apwinted 31 Morch 20221 Cbarlty number 800055 Reglstered offiee clo Langridgc FaTm Hook Larte WLSI Hoalhly East Grinslead West Sus¥ex RH19 41Yr Independent examlner Da￿en Hardillg ACA FCCA DChA Richard Place Dokb50n Scrvio¢$ Limited 1-7 Station Road Crawley West Suskx RHIO IHT THE ROYAL YEOMANRY REGIMENTAL ASSOCIATION CONTENTS Page Trustee5' rewrt Independent examinerfs report Strdiemeni of financial activities Balanc¢ sheet Notes to the financial statements 6-10 THE ROYAL YEOMANRY REGIMENTALASSOCIATION TRUSTEES, REPORT FOR TH£ YEAR ENDED 28 FEBRUAR Y21123 Th¢ tnJ5t¢es present their 8nnual report and financial 8tateTnents for the year ended 28 F¢bn￿ry 2023. The financial statements have been prepared in 8ccordAnce with Ihc accounlTng policies Set out ill note I to th¢ finan¢ial Statements and cotnply with th¢ ¢h&Tity'S Coilslitution. rhe Charities Acr 2011 and 'Accounling and ReportiE)g by Ch8riti¢5'. Statement of Recomrnended Pra¢li¢e applicable lo charities preparing their accounts in accordance with the Financial ReptsrtinB Standard applicablc in the UK RepubliG of lrt18nd IFRS 102) (eff￿lIVe l Janu8ry 2019).. Objective5 ahd actlvltles The Objects of the charity are- {1) To pramole the effjciency of the Royal YeomaDry by.. Maintaining contact between pa51 and present m¢rllb¢r5 of the T¢gsm¢nt, woviding for social gallierings for th¢m,' and b, Fost¢ring espirit de cotys, comradeship and the welfare of Ille regiment and p￿SentIng Its Iradilions. 121 To relieve either generally or indi￿duallY memb¢rs of the Association Members of the Regiment alld their dq)endent5, who are in eonditions of need. hardship or dist￿$& To support aud PTOTnQt¢ th¢ activiti¢$ of the Royal Yeomanry Re8tment and provide Welfa￿ support to ￿rrt￿t and pAsi members of the association. The tN81ees have paid due regard to guidance issu¢d by the Charity Commtssion in deciding what activities th¢ charity should undertakc. Achlevem¢nts and perfumatt¢e Ov¢r the past lew years the Association has U8cd ils fvnd5 for th¢ followirt8 Putposes by mAkirt8 a finattcial contribution tOWaTds'. Battl¢fTeld TOUTS Funeral expen5¢5 Parades Regimental sport Welfare of gcrvtng soldier8 and their familie5 Regimental soci21 gatherings The Associatloll has H150 Provided loatt facilitie8 and grants to s¢rwng 501diers who through no fault of their own flnd th&nselves iu 5hort-term finan¢i)I diifi¢uliies as 8 result of their service. Durirtg this period The RY A&8ociation contributed towtsrds 8 delayed homecoming parad¢ for soldi¢rs returning from Op CABRIT Shrewsbury. After a parade through th¢ town a lea was held at Shrewsbury Castle for friend8 and farnily of the Regiment whiGh theA5SOClOtion helped 10 arrange and fund. The Association also helped the Regimental ReC￿lItn8 Team in enhancing the Regiment&l recrniling and retention by paying for clothing for new r¢crui15 th8t would olhenvise havc to be PUTcha5td by the re¢Tuits themselv￿. TheAssociation also supported a battl¢fi¢ld tour 10 Gallipoli organized by Thc Royal Y¢oznanry. A5 ￿8￿￿[. the Association organized 8nd lknded th¢ Regiment's participation in th¢ Cotnbin¢d Cavalry Old Comrades A55LKlÈtion parade itt Hyde Part( followed by a lunch for Serving and veteran members aftenv3rds at th¢ ATtny & Na Club. In June th¢ A55Ofl8tion held ils fjrst 'Vct¢rans Day, at Regimental He1dquÈrtc￿ in Leicester and paid for r¢frcshTn¢nts 2 barbeque for th05¢ gtt¢ndirtg. FinxnelAI revlew At the year ended 28 February 2023, the charity had nct incoming r¢50urce6 of £9,53612022.. £8,913). THE ROYAL YEOMANRY REGIMENTALASSOCIATION TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUAR Y2023 It is the policy of the thsriry IhÈi uniesiricled thnd$ whi¢h h#v¢ rtot been desigDat¢d for a specific use should be maintained at # l¢vel equivol¢nt to b¢twe¢n three and six rnonth's cxpenditure. The trustees considers that rest￿¢5 al this level will ensu￿ that, in th¢ ¢v¢nl of a 5ibmifLGallt drop in fundTng. they will be able to continue the chariry's CLtrreni a￿1vItieS while COll5Tderatioll is given to ways Ln which additional fund5 may be raised Th¢ tn￿te¢S have assessed the msjor risks 10 whi¢h the ¢haTity is ¢xp05¢d, and ar¢ 5ati5fid that systems are in place to itig8t¢ ￿pOsUr to th¢ Tnajor ri5k5. Structure? governance and management The Rvy81 Yeomartry Regitnenl21 A550ciation wos set up in 1988. 11 is a reb7isl¢r¢d chaThty {no. 800055) which is goverlled by 4 ConstitutioD subject to charit1¢5 law alld the supervision of the Ch&rili&8 Commi&8iOll. Originally administered by the Regiment itself a change in the low required all military ¢hÈriiie$ to b¢ indepertdently. WoikinE eloscly with Iht longer esiablishcd Squadron A*soci21ions the RYRA 1$ now th¢ main body thgt ¢XlSt5 for the pll￿)&e of providing org8nis&iionkl as well as fittatt¢idl sUPlY)rt to th¢ Re8itn¢nt 8Dd sts Tll¢Tllb¢r5. serving and v¢teTan5. Anyone who has seTved as a Roy&l Yeotnan is a polen1191 benefioiary of the A%$ociation. The Association also organi5e8 th¢ R¢gim¢nt's participation in the Cavalry Memorial Parade and other event& Fund5 wcre originally raised for the Association through the 'one day'5 pay %ch¢rne' which purcha5¢d insurance befoTC the Armed Forces Compen$&tion S¢hem¢ and other 'saf¢ty n¢ts' w¢K put in place. The Association then relied for umber of y¢ars on voluntary contributsons from serving and fornier meTnbers of the Eiegimenl. Some of the donations still Teceived are rnade on this ba%is. In 2016 the one day'5 pay scheme was Teinlroduced and for the last hvo years the Regiment has Teceiv¢d donations from serving member8 of the Regiment this way which hfjs helped the As8ociaiion plan for the tiiture with much MO￿ certainty. In 20L2 the Regitnental PR[ Ishopl wa5 tak¢n on by the A550cialion alld sells Regimental uniforni items and branded Products via an on12ne shop. A modest profil is made on each item in order lo increase the general funds of the Charity. The trustees ￿1￿0 seTv¢d during the y¢ar attd up to th¢ date of signAiure of the finanGi41 sitttemettis w¢re.' Sgt R All¢n (Resigned 31 20221 Lt Col S Mcmenemy Capl J Aslley Maj {retd) G TuTn¢r Capl C Chadwick Col N Asibury AFranklin Mr R Ll¢w¢llyn (R¢sign¢d 31 M4TCtL 20221 {Resigned 31 March 20221 (Appuirtted 31 Mar¢h 2022) The Trustee8 m¢¢t at least three timcs a year alld also disc￿5 urgent requests or other matt¢rs a5 required. They 8etve for three or more years on informal rotation. Tn]stee8 wve of their time freely and undertakc to keep up with best practice guidance as issued by the Charity Commtssion ajjd act ￿ the custodians of the Charity's assets. The tN5tees' report was 3pproved by the Board of Ttusie¢$. Lt c.ol S Mcmeknemy Trustee Dated.. ## **THE ROYAL YEOMANRY REGIMENTAL ASSOCIATION** ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF THE ROYAL YEOMANRY REGIMENTAL ASSOCIATION** I report to the trustees on my examination of the financial statements of The Royal Yeomanry Regimental Association (the charity) for the year ended 28 February 2023. ## **Responsibilities and basis of report** As the tmstees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: - 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or - 2 the financial statements do not accord with those records; or - 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. ## **Darren Harding ACA FCCA DChA** Richard Place Dobson Services Limited 1-7 Station Road Crawley West Sussex RHl0 lHT 5/1/2024 Dated: ........................ . THE ROYAL YEOMANRY REGIMENTALASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPEIYDITURE ACCOUNT FOR THE YEAR ENDED 28 FEBRUAR Y2023 Unre5tr1eted Unrestrlcted funds funds 2023 2022 Notes me frtsm: Donations and membership Charitable activities Other tradirtg adivities Invesimenis 18.155 2,632 13.5(A 2,070 19.208 5,365 9.636 Totol Iwcome 36.421 34.212 endlture on: Raising funds 10,966 13,978 Charitable activitie5 15,919 Total expendtthre 26.885 25.299 Net Income for the yearl Net movem¢knt In fuDd$ 9.536 8.913 Fulld balances at l March 2022 72,806 63,893 Fund bglanccs at 28 February 2023 82.342 72.806 Th¢ 5tatem¢nt of firtAn¢ial #Clivities ittcludes all 8aiks and losses recognis¢d in the year. All income and expendirure derive from contilluillg &ctivAti¢s. THE ROYAL YEOIIqANRY REGIMENTAL ASSOCIATION BALANCE SHEET ASA T28 FEBRUAR Y2023 2023 2022 Notes Current a55ets Siocks CRsh 21 bank and tn haDd 12 22,083 63,859 20,104 56,302 85.942 76,406 Credltors: amount8 falllng due wlthln one year 13 {3,6001 13.600) Nel current assets 82.342 72,806 Jhtome funds Unresiricied funds 82.342 72.806 82,342 72,806 2.61:,1,, The financial statements were approved by th¢ Tnjstets on . ol S Memenemy Ih15tee THE ROYAL YEOMANRY REGIMENTALASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUAR Y2023 Aetollntlng pollcles Chartty IDformAtIo Thc Royal Yeom8nry Reglmental Associstiott is a charity regi8tered on England and Wale8. the rtg18te￿d office is clo Langtid8¢ F8rm, Hook Lane, West Hoaihly, Easi Grinslead, RH19 4PT. 1.1 Ac¢ountlng eonvent￿ Th¢ finanGial statements have been prepared in accordince with the charity's constitution adopted 3Lst August 1988. the ChaThlie5 Act 2011, FRS 102 'Th¢ Fsnart¢i￿ Reportittg Standard applicable in the UK and Republic of Irelattd" {"FRS 102,) and the ChaTlties SORP"Ac¢ountlll8 alld R¢porting by Charities.. Ststcmettt of Recommcndcd Practice applicable to charities pr¢parillg their accounts in accordance with th¢ Fiiiancial R￿OrtIng Stsndard appli¢able in the UK and Republic of Ireland {FRS 1021 (effective l January 2019}. Th¢ charity is a PubliG Benefit Entity as defin¢d by FRS 102. Th¢ charity has taken advantage of the provisions in the SORP forcharitie5 not to prepare a Statement of Cash Flow5. The financial ststements have departed frem the ChAriiies (Accounts and Reports) Regulations 2008 only lo the extent required to provide a true attd fair view. This depattUTe h88 involved following the Statement of Recommended Practice for chaTltie% applying FRS 102 rath¢T than the version of th¢ Statem¢Dt of R¢¢omm¢ndcd Practite which is ￿ferred 10 in thc Regulations but which ha8 5itLC¢ been withdrawll. Thc fipan¢iAI stxtem¢nt$ ire prepatEd irt sterling. which is Ihe functional currency of the ch&rity. Monetary amounts in these financial 5t8trTnent5 art rounded to the nearest £. The firt&rtcial sl&tement8 h&ve been prepared utlder the histOTica] cvst convention. Th¢ PTLn¢ipal a¢¢oMnting poli¢ies adopted &re $et out below. 1.2 Golng ¢on¢ern At the time of approving the firtancial statements, the trustees have a reasonablc cxpeclation that the charity has adcquate rcsourc¢s to contiDue in op¢r8tional ¢xi$ience for the foreseeable fvture. Thus the tnjstees continue lo adopt the going concem basis of accounting in P￿pAring the financial staltments. IJ Ch#rlt*ble fund$ UnrestN¢i¢d fiJttd$ are availoble foruse at the discretion of the tru5tt¢s in furth¢ranc¢ of their GhÈritabl¢ obje£tives. IA I￿¢￿Me Income is recognised when th¢ charity i5 l¢glllly ¢ntiiied to it after 8ny perfomiance condition8 have been met. the smounls can bc measured r¢liably* and it 15 PTobabl¢ that in¢om¢ will b¢ ttc¢ived. Cash donations are recogni5ed on receipt. Other don&titsns ore rcco8nised once the charity h8s been notified of the donation. unless performance conditsons rquire dtfeTral of th¢ amounl. Shop sales ere re£oBnised at the point that the so1¢ ha5 tak¢n plÈ¢¢. Membership income is recoBni5d when th¢ ineome is reteived. THE ROYAL YEOMANRY REGIMENTALASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUAR Y2023 Ac¢ountlng pollcles (Contlnu¢d) 1.5 Expendlture Liabilities are recognised a5 expenditur¢ as soon as there is a legal or consrrnclive obli8atioti commiiiitig th¢ chatity to that expcnditure. il is probable that a transfcr of cconomic bencfils will bc rcquircd in settlement and the atnount of th¢ obligation can be measured reliably. Expenditure is oCco￿nied for on sn accrllals basis #rtd has been ¢lwified und¢r headings that aggrcgale all cost related lo the category. Where costs cannot bB directly attributed to partiwllr h¢ading5 they have been allocared to fictiviiies ott i b&81% ¢on$i$tcnt WLth the use of r¢sourGts. Chsrltabl¢ s¢tlvld¢$ Charitable aclivities represents th¢ c08t5 directly attributable to cany out the charitable objects. including support costs and costs relating lo the gov¢rnance of the charity. 1.6 Stocks Stotk$ are valued At the low¢r of eost and net ￿a]ISabl¢ valuq after making due allowance for ob501ete and slow moving items. 1.7 CA8h and cash equlvAlents Cash and cash cquivalents include cash in hand. dO￿811S held at call with banks. other short-terni liquid inve8rments with original maturitie5 of three months or less, and bank overdrafts. Bank overdrafts are shown witbin bom)wings in current Crffitlcll *¢¢ountIng estlmgtes And Judgements In the application of the charity's accounting policies, the t￿sttts ar¢ required to make judgements. esiimfjies and assiimptions about the carrying arnounl of assets and liabilities that are not readily apparettt from other sources. The es¢imares and associared assumptions are based on historical experience ond other factors thbt are considered to b¢ relevaJJt. Actual results may differ from the8e estimates. The e$limAie$ and urtd¢rl>ing 8s$umptiott$ Are ￿Viewed on at] onEoing bgsis. Revisions to accounting estimate8 are recognised in th¢ p¢riod in which the esliTn8te i5 revised wher th¢ revision affects only that period, or in the peri{￿ of the r¢wsion and future period5 whcre the Tev15ion affects both Current and fiiture period5. Dongtlons and membershlp Uttrn$trl¢ted Uure5trlcted fufftd$ ruhd5 2023 2022 Donations and 8ifts 18,155 19,208 THE ROYAL YEOIWIANRY REGIMEIYTALASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR EIVDED 28 FEBRUAR Y2023 Charitable activlties Provlde welfare suppTrrt Provlde welfare support 2023 2D22 Event reimbursement in¢om¢ 2,632 5,365 Other trgdlng aetlvltl Unrt5tr1c¢ed Unrestricted fuhd5 funds 2023 2022 Shop income 13.564 9.636 Illvt&tmentg Unrestrlcted Unrestrlcted fuhd5 2023 2022 Jntercst receivable 2,070 RAlslng fundi UDr¢strlettd Unr¢stri¢ted funds fimds 2023 2022 TTadin costs Owating online charity shop 10,966 13,978 10,966 13,978 THE ROYAL YEOMANRY REGIMENTALASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUAR Y2023 Ch#rltable activities Prtsvlde Provlde w¢lfar¢ #nd welfar¢ and support support 2023 2022 Events Travel costs 14,119 8,271 1,250 14,119 9.521 Share of governance ¢ests (see not¢ 9) 1.800 1.800 15,919 Sllpport ClJ5t Support eosts Govern&noe Costs 2023 2022 Accountancy 1.800 1,800 1.800 1,800 1.800 1.800 Anblysed betwe¢n Charitable activities 1.800 1,800 1,800 Gov¢m2tt¢¢ Gosls includes p4yfft¢nts to the illdtp¢nd¢nt ¢xatllin¢rs of £l.800 (2022: £1.800) for the independent ¢xamination. 10 Trustees None of the ¢rustee5 lor any per50fLS ¢onnect¢d with th¢tnl received ally remuneration or ben¢fi18 from the charity during the year. li T¥4Xatlo The charity is exempt from lax ort income ind Ebin% falling within $e¢tion $05 of th¢ T￿¢5 Act 1988 or Section 252 of the Tixhtiort vf Chargeable GainsAci L992 to the extent that these are applied to ils Gharitabl¢ obj¢¢ls. 12 Stocks 202J 2022 Finished goods and goods for resal¢ 22,083 20,104 THE ROYAL YEOMANRY RECIl￿ENTALASSOC[ATIoN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUAR Y2023 13 Cr¢dltors', #mouht$ fAlllvg du¢ wlthln on¢ year 2023 2022 Trade credirors Accruals 1,800 1.800 1.800 1,80f> 3.600 14 Related Party transactl0115 Th¢r¢ were no disc105able related party transactions during the year12022- none).