Charity registration number 8000$ THE ROYAL YEOMANRY REGIMENTALASSOCIATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2024
THE ROYAL YEOMANRY REGIMENTAL ASSOCIATION LEGALAND ADMINISTRATIVE INFORMATION Trusteei Lt Col S Mcmenemy Maj J Astley Col N Astbury Maj A Franklin R Llewellyn Col C Bragg Lt Col L Webb (Appoint¢d 24 March 2023) (Appointed 19 April 2024) (Appointed 19 April 2024) Charity number 8000SS Registered offiee ¢10 LaThgridge Farm Hook Lan¢ West Hoathly East Grinstead West Sussex RH19 4PT Tndependent ex8miner Dauen Harding ACA FCCA DChA Riehard Place Dobson Service5 Liniited 1-7 Station Road Crawl¢y Wesl Sussex RHIO IHT
THE ROYAL YEOMIlNRY REGIMENTAL ASSOCIATION CONTENTS Pagt Trustees. report Iiidep¢ndent examinevs report Statcmcnt of financial activities Balanc¢ sheet Notes to the finan¢ial statements 6- 10
THE ROYAL YEOMANRY REGIMENTAL ASSOCIATION TRUSTEES, REPORT FOR THE YEAR ENDED 28 FEBRUAR Y2024 Th¢ Irust¢¢s present their annual report and financial stat¢m¢nts for th¢ y¢ar ¢nded 28 February 2024. The fii)aii¢ial ststeinenls have been prepared in accordance with the accounting poli¢%es set out in note I to the financial stat¢m¢nls and comply with the charity's constitution, tli¢ Cl)arities Act 2011 and "Accounting and Reporting by Charities.. Statement of Recommended Practic¢ applicable lo charities preparing their accounts in accordance with th¢ Financitsl Reporting Staiidard F4ppli¢able in the UK and Republic of Ireland (FRS 102) (effective l January 20191" Objectivcs and aetivilies The Objects of lh¢ charity are.. (l) To proinote the efficiency of the Royal Y¢omanry by.. • a, Maintaining Contact b¢tween past and present meinbers of the regii)ient, providiiig for so¢ial gatherings for th¢ni,' 8iid b, Fostering espirit de corps, coiiiradeship and th¢ w¢lfar¢ of the regiment and presenting its trdditions. (2) To relieve eitlieT g¢n¢rally or individually ineillbers of tlie Association Meinbers of the R¢gitn¢nl and Ih¢ir dep¢nd¢nls. who ar¢ iii conditions of need, hardship or distress. To suppoit and promote the activities of the Royal YeomAniy Regiment and provide welfare support to ciirrerjt and past members of the associalion. T]ie trustees liave paid due gard to guidaJic¢ is$u¢d by the Charity Commission in deciding what activiti¢s th¢ ¢haTity should undertake. Achievements and ptrformance Over the past few years thc Asso¢iatiort has used its funds for the following PUTposes by making a financial Contribution towards.. Battlefield Tours Funeral expenses Parades R¢giiiienlal sport Welfare of serving soldiers and their fainilics Regiiiiental social gatherings The As50¢181ion has also provided loan lacilities and grdllts 10 5¢rving soldi¢rs who through no fault of their own find theinselves in short-teri)) fiiiancial difficulti¢s as a result of their service. During this p¢riod Th¢ RY Association invested heavily in technology introducing the 'Military App, The app is free to all ni¢inb¢rs of the Regiinent, veterans and their fainili¢s as a nieans of staying connected to the Reginient and each oth¢r. It also coni)eels them with the wider Inilitary ¢(Fn)iiiuiiity and signposts to useful services and organisatiorts. in¢luding m¢nlal l)ealtl) services. The Association also helped the Regimental Rccruiting T¢aiii in enhancing the Regimental recruiting and r¢tcntion by paying for ¢loihing for new recruits that would oth¢rwise have to be purchased by tlie recruits theinselv¢s. As iisual. tlie Association organized and funded the Regiment'5 participation in the Coinbined Cavalry Old Coinrades Association paradc in Hyde Park followed by a lunch for s¢rving and vetei'aft members afterwards at the Coach & Horse in Mayfair. as well as the dining club and annual carol s¢rvice. The Association also contributed to a Regiinental Adventure training weekend. Fin8nelal revieii, At the year ended 28 Febary 2024. the charity had net outgoing resources of £2,036 (2023: net incoming Tesour¢¢5 of £9,536}. page I
THE ROYAL YEOMANRY REGIMENTAL ASSOCIATION TRUSTEES, REPORT (CONTINUED) FOR THE YE4R ENDED 28 FEBRUAR Y2024 It is the policy of th¢ ¢harity that unrestricted funds whieh have not been designat¢d for a specific use should k maintained at a level equivalent to between three and six month's expet3ditur¢. The trustees considers that res¢rv¢s at this level will ensu that, in the event of a signifscant drop in funding, thcy will be able to continue th¢ charity's current activities while consideration is given to ways in whieh additional funds niay be raised The tTUSte¢s have assessed the major risks to which the charity is exposed, and are satisfied tliat systems are in place to mitigate ¢xposure to the Inajor risks. Strueturel governance and man8gement Tlie Royal Yeomanry Regiin¢nlal Association was set up in 1988. It is a registered charity (no. 800055} which is gov¢rncd by a Constitution subject to charities law and th¢ siipei'vÉsion of the Chariti¢s Coniniission. Originally adininislered by the Regimcnl itself a ¢hange in the law required all military charities to be run independently. Workiiig clo$ely with the longer ¢stablished Squadron Associations the RYL4 is now the maÉn body that exists for the purpose of providing organisational as well as finai)cial support to tlie Regiment and its members, servii)g and vet¢ran5. Aiiyone who has scrv¢d as 2 Royal Yeoman is a pglential beneficiary of the Asso¢ialion. The Association also orgonises the Regiment's participation in the Cavalry M¢inorial Parade and other Cvenls. Funds were originally raised for the Association through the 'one day's pay seheme, which pUhaSed insurance before the Arm¢d Forees Compensation S¢heme and other 'saf¢ty n¢ts' were put in place. The Association tl)eii relied for a nuinber of years on voluiilary contributions from serving È]id fonner members of the R¢giment. Some of the donatioi)5 still received ar¢ made on this basis. In 2016 th¢ oi)e day's pay sclieme was reiiitroduced and for the last two years tl)e Regiment has received donations from serving members of the Regiment this way which has help¢d the Association plan for tli¢ future Miith much mor¢ ¢ertainty. In 2012 the Regimental PRI {sl)op) was taken on by th¢ Association and sells R¢giikn¢nt81 unifomj items and branded products via an onlin¢ shop. A modest profit is m#d¢ on each item in order to iii¢rease the general funds of th¢ Charity- Tl)e trustees who served during th¢ year and up to the date of signature of the financial stat¢m¢nls were.. Lt Col S Mcmeneiny Maj J Astley Col NAstbury Maj A Franklii) R Ll¢wellyn Col C Bragg Lt Col L Webb (Appointed 24 March 2023) (Appointed 19 April 2024) (Appoint¢d 19 April 2024) The Triistees meet at least three times a yeai. 8rtd also discuss urgent Kqii¢sts or other matters a5 requircd. They serve for tIee or more y¢ai's on informal rotalion. Trustees givc of th¢ir tiine freely ond uiidertake to keep up with best practice guidance as issued by the Charity Coininissioii and act as the custodians of the Charity's a5s¢ts. The lrnstees, report was approv¢d by the Board of Triislees. Lt Col S Memencmy Trustee Dated.. page 2
THE ROYAL YEOMANRY REGIMENTAL ASSOCIATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ROYAL YEOMANRY REGIMENTALASSOCIATION r¢port to the trustees on my examination of the financial statcments of Th¢ Royal Yeomanry Regimental Association (the charity) for the year ended 28 Fcbruary 2024. Responsibilities b48is of report As the trustees of th¢ charity you ar¢ responsible for the preparation of the financial statements in accordance with the requiremeiits of the Charities Aet 2011 (the 2011 Act). I report in respect of iiiy exJiiiination of th¢ ¢harity'$ tinancial stateinents carried OLIt under section 145 of the 2011 Act. In Carrying out iiiy ¢xainination I have followed all the applicable Directions given by the Charity Coll)n)ission und¢r 5¢¢tion 145151(b) of the 2011 Act. Independent examiDer'$ statement Your attentign is drawn to the fact that the eharity has prepared financial stat¢m¢nts in acrdanCe with Accounting and R¢portsng by Charities preparing their accounts in accordan¢e with th¢ Finan¢ial Reporting Standard applicable in the UK nd Repiiblic of Ireland (FRS 102) in prcf¢r¢n¢¢ lo th¢ Ac¢ottnting and Reporting by Charities.. Statement of Recommended Practice issued on l April 2005 whi¢h is referr¢d to in the extant regulations but has now b¢¢n withdrawn. l und¢i'stand that this has been done in order for financial 3tat¢m¢nls lo provid¢ o true and fair view in accordance with Generally Accepted Accounting Practice eff¢cliv¢ foi. r¢porting periods beginning on or after l January 2015. I hav¢ eompleted my examination. I confim) that no iTJatt¢rs have ¢ome to my attention in connection with the examination giving me cause to bcli¢v¢ that iii atty material respect.. accountiiig ir¢ords were i)ot kept in respect of the charity as required by 5¢Ction 130 of th¢ 2011 Act. or tlie finaneial stateinents do not accord with those records; or the financial stateinents do not comply witli the applieAble requirements concerning the foTm and c4)nt¢nl of accounts set oul in th¢ Charitles (Accounts and Reports) Regulations 2008 oth¢r tlian any reqiiiremei)t that tlie accounts giv¢ a lrne and fail. view wl)ich is not a matter consid¢r¢d as part of at) independent examinatioii. I have no concerns and have coill¢ a¢ross no other niatters in connection with the exaniination to whi¢h att¢rtlion Should be drawn in this report ID order to ¢n8ble a proper understanding of th¢ financial stat¢in¢nts lo b¢ reaehed. Darren Harding ACA FCCA DChA Richard Place Dobson Services Limited 1-7 Station Road Crawley West Sussex RHIO IHT Dated.. 19 December 2024 page 3
THE ROYAL YEOMANRY REGIMENTAL ASSOCIATION STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUIYT FOR THE YEAR ENDED 28 FEBRUAR Y2024 Unrtstricted funds 2024 Unrestricted nds 2023 Notes Income from: Donations and legaci¢s Cliaritabl¢ a¢tivities Othcr trading activities Investments 18,217 3,060 7,490 306 18,155 2,632 13,564 2,070 Total intome 29,073 36,421 Exptnditure on: Raisii)g fui)ds Charitable actiipities 8,742 22,367 10,966 15,919 Total expenditure 31,109 26,885 Net incomel(expendlture} movement in funds (2,036) 9.536 Recon¢iliAtion of funds: Fund balances at l March 2023 82,342 72,806 Fund bal8nce5 4t 28 February 2024 80,306 82,342 The statement of fin2ncial activities in¢lud¢s all gains and los3 recognised in the year. All ineoine and expci)ditur¢ derive from continiiing kctivities. pag¢ 4
THE ROYAL YEOMANRY REGIMENTALASSOCIATION BALANCE SHEET ASAT28 FEBRUARY2024 2024 2023 Notes Current assets Stocks Cash at bank and in hand 12 17.578 66,418 22,083 63,859 83.996 85,942 Creditors: amount$ fAllimg due within one ye4r 13 (3,690) 13,600} Ntt Current asscts 80,306 82,342 Net ass¢ts excluding pension liability 80,306 82,342 Th¢ funds of the ehArily Unrestricted funds 80,306 82,342 80,306 82,342 The fJnan¢ial statements were approved by the trustees on ...... ij Lt ol S Mcmenemy Trustee page 5
THE ROYAL YEOMANRY REGIMENTALASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUAR Y2024 Aeeounting policies Charity information The Royal Yeoinanry Regimental Association is a charity T¢gisl¢r¢d on Englond and Wal¢s. the registered 0]ee is clo Langridge Farm, Hook Laii¢, West Houihly, East Grii)stead, RH19 4PT. 1.1 Accounting eonyention The financial al¢ll7¢tS hav¢ been prepared in aeeordance Mjith the charity's constitiition adopted 3 1st August 1988, the Charities Aet 2011, FRS 102 "The Financial Reporting Standard Applicable in the UK and Republic of Ir¢l8nd" ("FRS 102") and the Charities SORP "Accounting and Repoitiiig by Charities.. Slat¢inent of Recomm¢nded Pra¢tice applicable to charities preparing th¢ir accounts in accordan¢ with the Financial Reporting Standard applicable in the UK and Republi¢ of Ir¢land {FRS 102) letTective l January 2019}. The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for ¢horiti¢$ ntsl lo prepare a Statenient of Cash Flows. Th¢ finaR¢ial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the ext¢nt reqiiired to provide a true and fair view. This departure has involved following th¢ Stat¢m¢nt of Re¢omrn¢nded Pra¢tice foi. charities applying FRS 102 rath¢i' than th¢ v¢rsion of th¢ Statement of Recommended Practice which is referred to in the R¢gulations bul which has sin¢¢ been Miithdrawn, The financial statcmciils are pr¢par¢d in sterling, which is the functional currency of the cliarity. Monetary amounts in tlics¢ financial slalements are rounded to the nearest £. The financial staten)ents have been prePad und¢r th¢ histori¢al eosl convention. The principal accounting policies adopted are sct out b¢low. 1.2 Going Concern At the time of approving the finai)¢ial slal¢itt¢nls, th¢ (riistees have a reasonable expectation that the charity has adeqiiate resourc¢s to COEltinii¢ in operdlional existence for the foreseeable future. Thus the trustees contiiiue to adopt the going ¢onccrii basis of accounting in preparing the financial statements. 1.3 Chxrit&ble funds Unrestricted funds are available for use at th¢ discr¢tioii of the trustees in furtherance of their charitable objectives. 1.4 Income Income is r¢¢ognis¢d when tl)e charity is legally entitled to it after any P¢Tformance ¢onditions Iiave been tnet, the ainounls can be measured reliably, and it is probable tliat incom¢ will b¢ r¢ceived. Cash donations are recognised on receipt. Other doiiations are re¢ognised once the charity has been notified of the donation. unless perfonnan¢c condition5 require deferral of the ainount. Shop sales are recognised at th¢ point that th¢ sale has taken place. Menibership inconie is re¢ognised wh¢n th¢ income is received. page 6
THE ROYAL YEOMANRY REGIMENTALASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUAR Y2024 A¢¢ounting policies (Continued) l.$ Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constriictive obligation committing the charity to tltht expenditure, it is probable that a Iransf¢r (>f ¢¢onomi¢ benefits will be required in settlcm¢nt and th¢ amottnt of the obligation can k m¢asuitd itliably. Expenditure is accounted for on a¢¢ruals basis aiid has been classified under h¢adiJ)gs that aggregate all cost related to the category. Wh¢r¢ ¢ost$ ¢annot be direetly attributed to particular headings they have been allocated to a¢tiviti¢s on a basis ¢onsistent with the iise of resources. Ch4rit&ble a£tivities Chw'itable activities represents the costs directly 4ttribulabl¢ lo carry out the charitable objects, including sllPPOrt Costs and costs relating to the gov¢i'nan¢¢ of th¢ ¢harity. 1.6 Stoeks Stoeks are valued at the lower of ¢ost and net realisable value, after making due allowan¢¢ for obsolete and slow moving items. 1.7 Cash and CRsh equival¢nt3 Cash and cash equivalents include cash in hand. deposits held at ¢all with banks. other short-terni liquid investments with original n)aturities ofthree Inonths or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current Critical accounting estimate5 and judgements In tlie applicatioi) of the charity's aecounting policies, Ilie trustees are required to make judgeineiiw estimal¢s and assumptions about the carryiiig amouiit of assets and liabilities that are iiot readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are eonsidered to be relevant. Actuol results niay differ from these estiinates. The estimates and underlying assiimptions reviewed on an oiigoing basis. Revisions to &¢counling estimates are recognised ii) tlie period in which the estimate is revised where the revision affe¢ls only that period. or iii the period of t]ie revisioii and futur¢ p¢riods where the revision affects both ¢Liiirnl and future periods. Ineome from donations and legacie5 Unrutricttd futtds 2024 Unrestricted funds 2023 Donations Èrtd gifts 18,217 18.155 page 7
THE ROYAL YEOMANRY REGIMENTAL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUAR Y2024 Charitable activities Provide Ivelfart Support Provide Ivelfare support 2024 2023 Event reimbursement incom¢ 3.060 2,632 Income from other trading activities Unrestricted Unrestrieted funds funds 2024 2023 Shop iii¢orne 7,490 13,504 Income from iDVt5tments Unrestricted Unre$trieted funds funds 2024 2023 Interest rec¢ivabl¢ 306 2,070 Raising fund5 Unrestyicted Unrestricted funds funds 21124 2023 Tradin eosts Operating online charity shop 8,742 10,966 8,742 10,966 Pa8¢ 8
THE ROYAL YEOMANRY REGIMENTAL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUAR Y2024 Eypenditur¢ on charltablt Activitits Provide welfAre #nd support 2024 Provide welfart and support 202J Direet eosts Events 20,477 14,119 Sh#re of support and goVeraN¢C costs (see note 9) Govemance 1,890 1,800 22,367 15,919 Analysis by fund Unrestricted funds 22,367 15,919 Support costs #llocxted to #etivities 2024 2023 Gov¢Ynance costs 1,890 1,800 Analysed betiveen: Provid¢ welfar¢ and support 1.890 1,800 io Tru5te¢s None of the ISteeS (or any p¢rsons connected with thein) received any reinuneration or benefits froiii th¢ ¢harity during the year. li Taxation The ¢liarity 1$ exempt from tax on income and gains falling within s¢¢litsn 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the ¢xtent that these are applied to its charitable objects. 12 Stock5 2024 2023 Finished goods and goods for resale 17,578 22,083 page 9
THE ROYAL YEOMANRY REGIMENTAL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUAR Y2024 13 Creditors: amounts falling due ivithin one ytAr 2024 2023 Trade creditors Accruals 1,800 1,890 1.800 1,800 3,690 3.600 14 Unrestrieted funds The ui)restricted funds of the charity comprise the unexpended balances of doi)ations and grai)Is which are not subject to specific conditions by donors and gTantors as to how tl)¢y may be used. These include designated funds whicli have been set aside out of ui)restrict¢d furtds by the trustees for specifie purposes. At l M¥reh 2023 Ineomlng resources Resources At 28 February expended 2024 General fund5 82,342 29,073 (31,109) 80,306 Previous year: At l M¥Ych 2022 INcomlng resourc Resources At 28 February expended 2023 GenerAI funds 72,806 36,421 {26,885} 82,342 15 Relxted party transactions Th¢r¢ w¢rc no dis¢losable related party transactions during the year (2023 - nonc). page 10