THE SAPPER CHARITY Royal Engineers Association Charity nurnbers= 258322 ond SC041832 Trustees, Report and Financial Statements for the year ended 31 December 2025
Royal Engineers Assoclatlon Trustee's report For the year ending 310ecember 2025 Contents Page Tru5tee5' report Reference and administrative details Independent auditor's report Statemerit of financial activitie5 Balance sheet Statement of cash flows Notes to the financial statements 1-12 13 14-17 18 19 20 21-34
Royal Engineers Assoclation Tru5tee'5 report Icontinuedl For the year ending 31 December 2025 Trustees, Annual Report President's Introduction To deliver lifelong support and meaningful connection to serving and veteran mernber5 of the Corps of Royal Engineers and their farnilie5, f05tering esprit de corps, wellbeing. and unity acr055 generations. As part of this purpose, the REA- The Sapper Charity also play5 a vital role in strengthening the Corps today. In addition to supporting veterans and their families, our work contributes directly to the moral component of fighting power by reducing the personal and family pressure5 that can distract Sapper5 from their mission. We reinforce cohesion, pride and shared identity that make units resilient. Through timely welfare assistance, proactive outreach alongside unit5, and by enabling 5POrt, adventure training. and Shared experiences, we help ensure that Sappers remain focused, confi.dent and ready to deliver. Major General IRetdl Alastair Dlcklnson CBE. President. Royal Englneers Association Introduction The Board of Trustee5 present their annual report and the audited financial statements for the year ended 31 December 2025. The financial statements have been prepared in accordance with the accounting policies Set out in the accounts and comply with the charity's governing documents, the Charities Act 2011. and the Charities SORP IFRS 1021. Trustees consider that in preparing these financial statements they have considered all information that iould reasonably be expected to be available lincluding levels of reserves held). Therefore, the going concern basis of accounting is deemed appropriate and there are no material uncertainties. Constitution Deed of Declaration of Trust dated 19 Nov 1968, and Supplemental Deed dated l Dec 1974 as varied by Charity Commission Scheme dated 11 Aug 1997- supplemented by the Rule5 of the Royal Engineers Association12009, as amended). Objects and Public Benefit The REA exists to: Foster esprit de corps and comradeship across the Sapper familv. Provide financial and other assistance to serving and former members of the Corps and their dependents who are in need. Make grants to aligned charities which further these objectives. The Trustees confirm they have had regard to the Charity Commission guidance on public benefit when planning the yearfs activities. Strategy 2030 To deliver lifelong support and meaningful connection to serving and veteran members of the Corps of Royal Engineers and their families, fostering esprit de corps, wellbeing, and unity across generatior15. As part of this purpose. the REA- The Sapper Charity also plays a vital role in strengthening the Corps today. In addition to supporting veteran5 and their familie5, our work contributes directly to the moral cornponent of lighting power by reducing the personal and family pressure5 that can distract Sappers from their mission. We reinforce cohesion, pride and shared identity that make units resilient. Through timely welfare assistance, proactive
Royal Engineers Association Trustee's report Icontinuedl For the year ending 31 Detèmber 2025 outreach alongside units. and by enabling sport. adventure trainin& and shared experiences, we help ensure that Sappers remain focused. confident and ready to deliver. Strategic prioritie5'. Deliver Effective Support Deliver Effective Connectivity Develop & Sustain the Charity Delivery ffamework pillars= Operation5 Marketing Communications Finance Achievements and Performance (2025) Benevolence Core benevolence to individuals was delivered promptly and in line with policy. 2025 highlights- Cases assessed.. 458.. cases assisted: 380.. cases declined.. 78. Total grant5 to individuals: £258.068.94 (underspend vs allocation by 15.02%). Weekly allowances: £15.744 (care homes) and £82.659 lat homel. Special Christmas Grants- £7.390. Referrals assTrsted= 22115SAFAIABFIUWOI and 217 IRBLlothersl. ABF contribution to Sapper c3ses'. £SI.926 IREA referra151. Age profile.. modal range 31F50: increased semng-soldier casework due to outreachlcaseworker vi5ibilitv. Restricted funds activity.. Mccabe Fund grant5= £131.105.67. Sapper Charity Children's Fund (Kitchenerl.. £78,293.28 across the year. Gabriel Fund.. One career-retraining case supported1£25,0001. Trials enabling national branches (Airborne, Commando) to deliver immediate small-scale benevolence locally progressed well and will inform a wider branch model in 2026. Esprit de Corps & Community The REA supported branch and Ltnit acLivitie5 lincluding memorials. stable belts. adventurous trainin& elite sport scholarships, and Corps eventsl to promote cohesion and well-being across the Sapper family. Engagement in northern units remains an area for targeted irnprovement. Membership & Comrnunications New members120251'. 214,. new branches.. 8.
Royal Engineers Association Trustee's report Icontinuedl For the year ending 31 Dernber 2025 Newsletter open rates typically between 54% and 80%- Linkedln following rose to 15,735. Facebook to 5,796. Fundraising Total fundraising income120251'. £98,151.90. Marathon places ILondon/Bri@htonl filled rapidly,- expansion of unit-led fundraising le.g.. Kinlossl. Tru5t5 & foundations bids submitted (STEM. DCMS Wolfson. AFCF. micro-grantsl,. earty corporate cultivation le.g.. KNDS for Sapper Games.. invitations to 40 pfospects for Corps Boxingl. Benevolence Summary.. Number of cases assessed Number of cases assisted Number of case5 declined Number of weekly grants in care homes 1£) Number of weekly grants at home 1£) Special Christmas Grants 458 380 78 £15,744 489 386 103 £15,237 471 346 125 £14.500 £82.659 £86345 £97,042 £7.390 £7,790 £8.275 Cases referred by SSAFA. ABF and UWO which were a5515ted. 221 240 Cases referred by RBL and other charities which we assisted. REA caseworker cases Cases referred to ABF 217 249 io li 20 161 154 12 13 ABF grant total to date Total granted (£1 £51.926 258,068 £78,925 293.776 236,339
Benevolence Expenditure 2025 350,000 En oc 300,000 250.000 Lnln 200.000 150,000 loo.000 50,000 Feb Mar Apr May lun Aug sept ott Nov Dec •Total spent Forecasr expenditure Artuol expeDditt]re Age of Benevolence recipients 1st lan- 31st Dec 2024- 2025 comparison 120 114 112 09 04 loo 2 72 60 3212 3È3 3634 CountolAge 2024 CountofAgè 2025 20 io itho 11 Age Range A8e. The modal age of benevolence recipienis has not changed over the last two years with the 30 - 50 age range5 requesting the m05t benevolerice.
Royal Engineers Assoclatlon Trustee's report Icontlnuedl For the year endlng 31 Oecember 2025 Branch Membership Status of Benevolence Requests 1st Jan- 31st Dec 2025 soo 468 450 400 350 300 250 •Total 200 150 loo 50 22 Acrlve branch member Branch Membership, M05t benevolence requests are from non-branch members. It is likely that this trend will continue as the local branch Structure declines.
Royal Engineers Association Trustee's report Icontinuedl For the year ending 31 December 2025 Sapper family connection 1st Jan - 31st Dec 2025 306 350 300 250 200 150 loo 74 50 •Total Sapper lamily connection Reclplent Sapper Family Connection. The increase in requests from serving soldiers, these requests have been received predominantly through SSAFA and RBL case workers.
Royal Engineers Association Trustee'5 report Icontinuedl For the year ending 31 December 2025 Reason for Decline 1st Jan- 31st Dec 2025 i i i i i i i i i i i i i i i i i i i i i i i •Total LZZ Rvdson fordecline Reasons for Case Declines. There ha5 been an increase in a55iStance for flights and debt reduction from service personnel.
Royal Englneers Association Trustee's report Icontinuedl For the year ending 310ecember 2025 Forms Of Assistance 1st Jan- 31st December 2025 80 70 68 60 50 40 37 36 29 30 24 22 20 17 17 18 Toial 14 16 14 12 li 10 7 Forml51 of Asslstan¢e. The most common request for benevolence remalns brown goods. This 15 Usually due to the reclpient havlng to start afresh due to separation, divorce, prison release etc. The Sapper Charlty Chlldren's Fund. The Sapper Charity's Chlldren Fund Iformerly the Kitchener Fund) is currently supporting 8 families and 14 children. Gabriel Fund. No change. The Gabriel Fund assisted with the retraining of one individual at a cost of £25,000. Dedlcated Case Worker. Since the I" Oct 2025, the Sapper Charity has ernployed a dedicated case worker. The priority of the case worker was the administration and ownership of the Sapper Charity Children's Fund Beneficiaries followed by the benevolence of serving soldiers and their families and finally veteran5 and Sapper Family members. It was envisaged that the case worker would be able to compile and submit cases using MOSAIC la5 per SSAFA and RBL case workers). However, the decision (there is no guarantee) will be rnade in Oecember. Until that point The Sapper Charity has created its own processes to support servin8 soldiers and their families. Without the requisite permissions it is not be able to request assistance from other charities such as the RBL and 15 not in a position to support Veterans on a scale. Requests have been forthcoming however these have predominantly come from Unit Welfare Teams and are not initiated by individua15. The aspiration is that serving soldier5 request benevolence of their own volition. This requires Other departrnent5 Wlthin the Sapper Charities a551Stance.
Royal Engineers Association Trustee'5 report Icontinuedl FOT the year ending 31 December 2025 Fundraisin8 During 2025, the charity continued its delitierate shift towards a more diversified fundraising rnodel, strengthening challenge events and individual giving while building early momentum in corporate spon50r5hip and trust-based support,. total fundraising income recorded for 2025 wa5 £98,151.90, and we saw encouraging signs of growing engagement as more supporters chose to fundraise for the Sapper Charity through personal challenge5 and community-led activity. Alongside this proaress, the Trustees recognise that sustained fundraising growth depends on consistently demonstrating the impact of our work, and feedback from prospective donors continues to reinforce the need to show clearly what donations will achieve,. we will therefore strengthen impact reporting and storytelling across our owned channels Iweb51te, social media and new51etterl, recognising that these are a150 the first places that trusts and foundations, corporate sponsors and individual fundraisers look when deciding whether to 5UPPOrt us. Financial Review Headlines.. Total income.. £1,731.7381+21% YOYI Total expenditure- £1,989,0071-2.6% YOYI Net expenditure before gains.. E1257,2691 Ip13nned deficit consistent with rnulti-year strategy) Net gains on investments.. £843.849 Net gains on property £5.000 Net movement in fund5.' +£591.580 Closing funds.. £12,687,031 Income mix {indlcative) Donations & legacies.. £1,019,313 (includes £455.345 from RE Days, Pay Schemel Investment income.. £474,695 Other trading & other income.. £237.730 Expenditure analysis lindicativel Charitable activities: £1,987,196 (Benevolence and Esprit de Corp51 Raising funds.. £1,811 Support Costs allocated acr055 charitable headings are monitored,. Board discussions recogni5ed that esprit de corps appropriately exceeded direct benevolence in 2025 given strategy and objectives. Investrnents and property Portfolio managed via 81ackRock AFC Growth & Income Fund delivered +12.83% total return in 2025 vs +10.25% benchmark,. dividends £432,081.
Royal Engineers Association Trustee's report Icontinuedl For the year ending 31 Dernber 2025 Portfolio value on 31 December 2026.. £11.83m. Property portfolio (Ebbsfleet. two 3-bed units): combined 2025 net rental income £46.2: yields c. 4.43%- 4.93%- valuation £1.04m. The portfolio provides long-term growth. reliable income. and liquidity.. the property element Iliversifies income. Reserves policy and going concern The REA maintain5 free reserves to provide resilience against market volatility and operational shocks (including dependence on MoD-donated service5 such as DPS administration and RHQ facilitie51. In line with policy reviewed annually, unrestricted reserve5 are held to secure long-tem) benevolence and operatin@ capacity. Trustees consider the going concern basis appropriate. The charities free re5eTve5 at year-end were £11.241,54912024= £10,645,650) Fund Structure Historically restritted A and B fund5 are dormant (since 20151. Current restricted funds include Gabriel Iretrainingl and the Sapper Charity Children's IKitchenerl Fund- designated funds include Mccabe for unit/branch welfare le5pritl grants. All restrictedldesignated funds are administered by donor intent and policv. Governance. Structure and Management The Association 15 governed by the Deeds and Rule5 noted above. The Board of Tfusiees directs the charitvs affairs through standing committees.. M3n3Eernent. Benevolence. and Finance- at least two trustee5 51t on each. Day-to-day operations are delegated to the Chief Executive. supported by the Operations Director and HQ team. Recruitment and training of Trustee5 Trustees are appointed in line with the Rules and receive induction covering fiduciary duties. SORP. reseeS and investment policy. safeguardin& GDPR and ryber risk. Related parties and wider Corps family The REA collaborates with RHQ Royal Engineers, the Royal Engineers Museum. Institution of Royal Engineers, unit welfare staffs and other military charities le.g.. ABF The Soldiers. Charity and SSAFAI to deliver charitable objects efficiently. io
Royal Engineers Assoclatlon Trustee's report ItontinuÈdl For the year ending 310ecember 2025 Rlsk Management Key risk5 and mitigations include: Financial markets volatility.. diversified investment approach., close monitoring of a55et allocation and drawdown5.' consideration of external advisory input. Operational dependency on MOD infrastructure.. reserves policy and contingency planning. Cyber security and data protection.. 12.month uplift roadrnap IMFA enforcement, conditional acce55, DLP, DPIA for Sapper App. training KPlsl. Branch financial governance.. transition to unified banking liarget$ 75% by lune 2026. 100% by Nov 20261. Plans for 2026 Complete branch bankin8 unification175% by lune.. 100% by Novemberl. Sapper App.. july launch,. full roll-out by Corp5 Memorial Weekend,, begin migration from Sappercom. Expand benevolence delivery and branch.led models,. enhance impact storytelling and fundraising activation. Maintain investment diseipline,. review asset-allocation ranges and independent advisor optlons. Acknowledgements The Trustees thank the Corps, branches and group5, volunteers, donors, and partner charities IABF The Soldiers, Charity, SSAFA and others) for their practical support to the Sapper family during 2025. Fundraising Standards The Royal Engineers AssociatSon (The Sapper Charity) follows the Code ol Fundraising Practice and strives to meet the Fundraising Regulator's Standards. We commit to being legal, open, honest, and respectful in all fundraising activity.. to protecting vulnerable people,. and to using donations for the purposes for which they were given. Concern5 or complaSnls about fundraising can be raised with REA HQ Isee the administrative details in Section 11. If a matter cannot be resolved, supporters may refer it to the Fundraising Regulator. Safe8uardin8 We have zero tolerance of harm and are committed to safeguarding children and adults at risk across the Sapper community. The Trustees oversee safeguarding arrangements., a Designated Safeguarding Lead coordinates procedures, Stafflvolunteer trainin8, reporting, and referrals to statutory agencies where requlred. All concerns should be raised promptly with REA H(L in an emergency, contact the police or local authorStv immediately. Our safeguarding approach align5 With Charity Commission guidance. li
Royal Englneers Assoclatlon Trusteds report Icontlnuedl For the ye•r endlni 31 Deomber 2025 Data protectlon IUK GDPRI The Royal EnBlneers Assoclatlon Is the Data Controller for personal data processed durlng Its charitsble actlvltles. We process personal data on lawful bases including legltlmate Interests, performance of a contract, legal obligatlon, and consent where applicable. We apply princlples of data minlmisation, purpose Ilmitatlon, retention controls, and appropriate technic?1 and organisatlonal securlty1Sncludlng MFA condltlonal access. and DLPI. Data sublects may request access, rectSflcation. erasure, restrSrtion. or objectlon to processlng by contactlng REA Halsee Section 11. Concerns rnay also be ralsed wlth the Infomiatlon Commlsslonerfs Office Iicoi. Complalnts and feedback We welcome feedback and wlll treat all complalnts serlously and falrly. Please address complalnts to REA HQ uslrbg the contact detalls In Sectlon I, We alm to acknowled8e wlthin five workln8 days and provSde a response or next steps promptly. Fundralsln8 complalnts that we cannot resolve can be escalated to the Fundraisin8 Regulator,. other re8ulatory ¢on¢ern5 about the charlty may be ralsed wlth the Charlty Commlsslon lafter usln8 our Internal process). Granl-maklng pollcy15ummaryl Our 8rènt-maklng sUPPOrts our charltable objects.. benevolence to $ervlng and fomier Sappers and thelr dependent5, and esprlt de corps across the Sapper famlly. Appllcatlons may be recelved dlrectly. vla partner$ le.g., SSAFA, ABF The Soldlers. Charity), throu8h unlt welfare teams, or vla REA branches. Declslons are made agalnst publlshed crlterla, wSth dele8ated Juthorltles for rotstlne awards IHQteam wlthln polScyl. and Benevolence Committee approval for hl8her-value or complex cases. Urient out-of-commlttee cases above dele8at5on may be approved by the Benevolence Chalr and HonoraryTreasurer wlth subsequent ratlflcatlon. Re5trlrtedldeslgnated funds le.8., Mccabe, Sapper Charlty Chlldren's Fund, Gabrlell are used In Ilne wlth donor Intent. In 2025 we also trlaled branch-led benevolence for rapld, small-scale need vla natlonal branches (Alrborne, Commandol. Modern slavery and human trafflckln8 Statement The REA has 2ero toler4nce for modern slavery and human trJffickln8 In our operatlons and supply chains. We undertake proportlonate due dlllgence for hlgher-rlsk suppllers le.g., merchandlsln& events). Include approprlate contractual expectatlons. encourage whlstle-whlstleblowln& and wlll Investl8ate and art on concerns. We wlll contlnue to reflne our approach In Ilne with sector guldance and our procurement actlvlty. 12
Royal Englneers Association Trustee's report Icontrnuedl For the year ending 31 December 2025 Reference and administrative details of the charityi its trustees, and advisers For the year ended 31 December 2025 Charity registered number5: 258322 (England & Wales) and SC041832 (Scotlandl Princlpal office.. Ravelin Building, Brompton Barrack5, Chatham, Kent, ME4 4UG Working name.. The Sapper Charity IRoyal Engineer5 Association) Governing instrument.. Deed of Declaration of Trust dated 19 Nov 1968, and Supplemental Deed dated l Dec 1974 as varied by Charity Commission Scheme dated 11 Aug 1997,. Supplemented by the Rules of the Royal Engineers Associatlon12009, as amended). Auditor.. Kre5ton Reeves Audit LLP, 2nd Floor, Maritime Place, Quayside, Chatham Marltlme, Chatham, Kent, ME4 4QZ Investment Manager.. 81ackRock Investment Managers, Armed Forces Charities Growth & Income Fund IAFC GIFI Solicitors: Furley Page LLP, 39 St Margaret'5 Street, Canterbury, Kent, CTI 2TX Trustees and Senior officers120251'. President (Chair of the 8oardl.. Major General IRetdl Alastair Dickinson CBE V5ce President & Chair, Benevolence Committee.. Brig (Retdl Matt Bazeley OBE Honorary Treasurer & Chair, Finance Committee.. Colonel IRetdl Jonathan Ruddy Corp5 Colonel lex officiol.. Colonel Richard Hawkins MBE AOC Corp5 Sergeant Major lex officiol.. WOI Spencer Eardley Governance Trustee.. Mr. jeffrey Jupp KC Fundraisin8 Committee Chair.. Mr. Rowan Adam5 Wider Community I Service Charities Trustee.. Air Cdre (Reldl ColSn Basnett CBE Reservist Trustee.. Lt Col Martin Heffer TD Trustee.. Major General Lord Lancaster of Kimbolton Chief Executive Isecretary to the Board).. Ken Kirk In attendance.. Operations Director- Malor (Retdl Nlck Gunnell., Corps Treasurer- Major (Reldl lan Sldebottom. The above aliBns to the 2024 flling and the 2025 governance returns,. any changes effective post year-end will be reflected in the final signed report. Approved by the Trustees and Signed on behalf of the Trustee5 8 May 2026 Major General A S Dickinson CBE Chair 13
Independent Audltorfs report to the Tntstees of the ftoyal EnglThw5 A$slat We have audited the financial ateMeftts of the Royal Engineers AssoLiation {the'charityl forthe year ended 31 December 202S whlch comprfse the Statement of finanaal activities. the Balance sheet. the Ststement of cash flows and the related notes. Indudlng a summary of si8nificant accountin8 policles. The fln3nclal reportln8 framework that has been applled In thdr preparation ts applicable law and United Kln8dom Accountln Starbdards, including Financlal Reportingstandard 102 The Financial Reporting Standard appllcable In the UK and Republic of Ireland, (United Kin8dom Generally Accepted Accountin8 Prarticel. In our opinlon the financial statements.. glve a true and fair view of the state of the charrtvs affalrs as at 31 December 2025 and of Its Income and application of resources for the year then ended- have been properly prepared in accordance with Unlted Kln8dom GenerallyAccepted Accountlng Practlce: and have been prepared In accordance wbth the requlrements of the Chadtle5 Art 2011. Oasls for oplnlon We c¢)ndurted our audlt In accordance wSth Intematlonal Stand¥d5 on Audltln8 IUKI115A5 UKI} and appllcable law. Our responslbllltle5 under those standards are fwther described In the Auditorfs responslbllitlÈs for the audlt of the flnancial staternents 5ettlon of our Port. We are independeni of the chartty In accordance wlth the ethScal requirements that are relevant to our audSt of the financial ststements In the Unlted Kln8dom, Includln8 the Flnanclal ReportSng Councll's Ethlcal Stsndard. and we have fulfilled our other ethlcal responsibillties in accordance wSth these requirements. We believe thai audlt evlden¢e we have obtalned bs sufficient and appropriate to provide a basis lor our oplnlon. Conclu05 rel•lSni to iolni eonc•rn In audltlng the flnanclal ststements. we have concluded that theTrustees' use of the 8olNd concern basls of accountlng In the prepJratlon of finandal statements is approprlate. 8ased on the work we have perfom)ed. we have not Ideniified any materlal urKertaintles relatlne to events or condltlons that. Indmdually or collectlvely, may cast %8nificant doubt on the charity's abllrty to continue as 80ing ¢oncern for a perlod of at least twelve months from when the finandal statements are authorlsed for Issue. Our responslbllltles and the responsllxlities of the Tru5tee5 wlth respert to 8oln8 concem are descrfbed In the relevant sertSons of this report. Other Infwmadon The other Inforniatlon comprises the infomiation induded in the Annual repo¢ other than the financlal statements and our Auditorfs report thereon. Our opinlon on the finandal ststements does not cover the other informatlon and we do not expre55 arw form of assurance condusion thereon. Our responsSblllty Is to ad the other infomiation and. in doing so, conslder whether the other Information Is materially inconsistent with the finandal statement or our knowledge obtained in the audit or otherwise appears to be Material misstated. W we identify suth materlal inconsistenaes or apparent materlal mls5tatements, we are required to detemine whether there is a material mi5Statement in the financlal 14
Independent Auditorf5 repNt tothe Trustees of the Rtrpl EryibwetsAss(bda statements or a material misststement of the other Inf0mtIOn. ff. based on the work we have performed, we conclude that there is a material mis5tatementof thi5 Other inforniation. are required to report the fact. We have nothing to report in this regard. Matters OTh whlth we are requlredto report ex¢eptlon We have nothing to report in respect of the following matters vthere the CharftSes (Accounts and Reports) Re8ulalions 2008 requires us to report to you if, in our opinion: the inforniation given in the Trustees. report is Inc4)nsistent In any material respect with the flnanaal statements,. or sufficient accounting records have not been kepL or the finantial statements are not in a8reement with the accountlng record5 and returns; or we have not received all the infomiation and explanations we require for our audlt. R•spectlve responsibililles of Trustees aThl audltor As explained more fully In the Tee$, respon&bilities ststemen¢ the Trustees are responsible forthe preparation of finanaal statements whith gNe a tn and fair View. and for suth intemal control as the Trustees determlne is necessary to enable the weparation ofthefinanaal ststements that are free from material mi55tstement. whether due to fraud or error. In preparing the financial statements. the Trustees are SPOnSible for assessing the chartws ablllty to continue as a going conorn, disdosin& as applicable. matters related to golng corKem and usinethe 8oing concem basis of accounting unle55theTru5tees either intendto liquidatethe charity orto cease operations. or have no realistic alternative butto do so. Audltorfs Yespolb•liesf0l the of the flnandal slatem• We have been appolnted as audltor under settlon 144 of the Charltie5 Att 2011 and report in accordance wlth the Act and relevant ulationS made or having effect thereunder. Our objectlves a to obtain reasonable assuran about whether the financlal statements as a whole are free from material misstatemenL whether due to fraud or error. and to issue an Auditorfs report that includes our opinlon. ReasonaNe assuran is a high level of assurance but is not a guarantee that an audit conducted In accordart with ISA'S IUKI will always detect a material misstatement when st exists. Misstatements can arfse from fraud or error and are conwdered material rf. indmdually or in the awe8ate. they could reasonably be experted to Influen economic deasions of users taken on the basis of these financial statements. Irregularities, indudingfraud. are InStsn of Th)n-compliance ryth laws and regulatlons. We design procedures in line our responsilmlities. outlined above, to detect material misstatements in respert of Irregularities, including fraud. The extentto whith our pr¢KedU capable of detecting irregularities, including fraud is detailed below- Capability of the ouditin detecting irregulorities includingfroud 15
Indepdent AudltoVs reportto the Tn*es dthe Roya Ewlneets Asd)on l¢onllnued) Based on our understandiro of the charity and the 5ettor as a whole. and through discussion wtth theTrustees and other management la5 QuIred by auditing stsndan151, we identified that the prinapal risks of non- compllance wSth laws and regulatlons related to health and safety, antIrIbery and employment law. We considered the extent to which non<ompliance might have a material effect on the financial statements. We also considered those laws and regulatlons that have a dirett impact on the Pp¥abOn of the finanoal statements such as the Charfjtles SORP IFRS 1021 Second Edition Ireleased Ottober 20191, and other relevant tharity legislation. We communicated identified law5 and regulations throughout ourteam and remained alert to any indications of non-complian throughout the audiL We evaluated Trustees, and managemenvs incentives and opportunities for fraLKlulent manipulation of the financial statements linduding the risk of override of controls) and determtned that the prinupal risks related to Iting inappropriate journal entries to Increase revenue or reduce expenditure. and mana8ement bia5 in accounting estimatss. Audtt procedures performed by the engagement team inthded: Oiscussions with management and assessment of known orsuspected fjnstan of non-compliance with laws and regulations1Sndudlng health and safety) and fra. and Assessment of Identified fraud ri5kfactors.' and ReeW of cash expenditure to confirm no evidence of personal benefit; and Challen8in8 assumptions and judgements made by management In its signifiont accounting estimates: and Performing analytical procedures to identify any unusual or unexpected relationships. induding related party transaction5. that may indicate rtsks of material misstatement due to fraud,. and Confirmation of related parties wth management. and review of transattions throughi)ut the perilxl to identify arry prlOUSty undisclosed transactlons with related parties outsidethe rKThal course of buslness- and Perfomiin8 analytical procedure5 With aut(Mnated dats analytlcs tools io identify any unusual or unexpected relationships. includinB related party transartions, that may Indicate risks of material misstatement due to frau¢i: and Reading minutes of meetiw of those tharged with governan. and Physical inspection of tsngible assets SUSptib1e to fraud or irregularity: and Review of significant and unusual transactions. and Identifying and testing journal entries. In partlcular a)y manual entries made at the yearond for financial statement preparation. Because of the Inherent limitations of an audit, there is a risk that we not detertall irregularitie5. including those leading to a material misstatement in the finanaal statements or non-compliance with regulation. This risk inueases the more that ComlanCe with a law or regulation is remwed from the events and transactions refiected in the financlal statements, as we wll be less likely to become aware of Instsnces of non-compliance. The risk is atso greatef regarding irregularities occurring due to fraud ratherthan error. as fraud involves intentional concealment. forgery, collusion. omission or rnisrepre5entation. As part of an audit in accordance wtth I&As (UK), we exercise professional judgement and maintain professional 5PtI¢l$M throughout the audit. We also: 16
Independent Audltorfs vepwtto the Trustees olthe Royal En8ine•ts Assoon (¢onknu•d) Identrfy and a55e55 the risks of materfal mlsstatement of the financlal statsments. whether due to fraud or err¢y. design and perfomi audit procedures responsive to those rt5ks, arKI obtain audit evidence that is sufficlent and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higherthan for one resultingfrom err¢r. as fraud may involve collusion. forgery. intenllonal omissions. miSrepresentans. or the cwerride of Internal control. Obtain an urtder5tanding of internal ci>ntrols relvrnnt to the audit in order to design audit procedures that are appropriate in the urcumstances. but not for the purpose of expressing an opinion of the effectiveness of the chariws internal control. Evaluate the appropriateness of accounti poliaes used and the rea50nablene55 of accounting estimates and related disd05ure5 made tythe Trustees. Conclude on the appropriateness of the Trustee< use of the going concern basis of accountinE and, based on the audit evidence obtained. whether a material Uncertainty eXts related to events or conditions thai may &ist significant doubt on the charitVs ability lo continue as a going concern. If we condude that a maierial urKertainty exists. we are rÈquired to draw attention in my Auditorfs reportto the related disclosures in the financial statements or, if such di5dosures are inadequate. to modify our oplnion. Our concluslons are based on the audit ewdence obtaned up to the date of my Audltorfs report. However. future events or ¢thtionS may ouse the charity to ceaseto contlnue as a golng concern. Evaluate the overall presentatlon, strucbjre and content of thefinancial ststements, Indudlng the dlsclosures. and whether the financial ststements rewe5ent the underlyiry transactions and events in a manner that achieves falr presentstion. We communicate with those charged with governance regardln& among other matters, the planned scope and timing of the audit and significant alit findings. Induding any slgnificant deficiencie5 in internal control that we identify during our audit. ilse of our report This report is made Sole to the Chari5 Trustees. as a b(xty. in accordance with Part 4 of the Charities (Accounts and Report51 Regulatign5 2008. Our audit work has been undertaken so that we mlght stale to the charitvs Trustees those matters we are required to state to them in an Auditorfs pOrt and for no other purpose To the fullest extent pemitted by law, we do not accept or assume respo[bOt1tytO anyone other than the charity and itsTnsstees. as a body. for our audit worl forthts report. or for the opinions we have fornied. Swnantha R(¥Jse FCCA DChA d tthall Kre¥ton R•ev•s LLP ststulory AlItOr 2nd Flo M¥rtJ"me Ploce Quayside Ch•th¥m Marilime Chatham K•nt PAE4 4QZ Datè.. 9 May 2026 J••ton Rw¥•¥ Autht LLP •r• lo •¢1 u •tsy4 In lj1rn of ••ckn 1212 of th• COrrP•n Ad 2¢X 17
Th¢ Royal Englneers AssoclatloD ststemenl of flnanclal activities For the year onded 310gGember 2025 Unr•8trictsd R•8trlctod lundg funds 2026 2026 Total funds 2026 Total funds 2024 Noto Income and endowments from: Donatlons & Legacies Olher trading activilieB 1ntrnent Income Other Income 1.019.313 180,012 460,887 87,718 1.019.313 180,012 474,695 67,718 737,307 149,433 452.242 98,054 10 11 23,808 Total Income 1707 930 1731738 1437.038 Expvndltur• on: Ralsing Fund8 Chadlable a¢tfvltt68 12 13 1,811 1,912,132 1,811 1,987,196 2.196 1,964,485 76,064 Total expendllurn 1989 007 1966 681 exp•ndltur• b•fore rnValuatl* 1206,0131 101.266) {267,2691 1529.6451 Net galn on Investments Not G4in¥ on property 19 20 797,762 5.000 46,087 843,849 6,000 446,838 15,000 N•t mov•m•nt In fund• for year 596,749 {5,168) 691,580 167.807) R•conclll•tlon of fund• Totsl lund$ at 1 January 2025 12,002,995 $04,700 12,095,451 12,183,258 Totsl fund• •t 31 Do¢frmb•r 2025 12599744 499 032 12 687 031 12 095 451 The Statement of Flnanclal Actlvltle8 Includes 011 gains and108$es in the year. All act1¢$ lo ¢onlinuing operatvJns. The not88 on pag8B 2110 34 form part Oft8• financlal sts18mants 18
The Royal Eng1fi•8ts Assoclatlon 8•lan¢e sh•8t For the year ended 31 December 202S Charlty Numbern: 258322 and SC041832 2025 2024 Foxgd assets Tangiblg assets 18 69,335 73.204 Investments 19 10,786,694 10,245.350 Inveslment propertie5 20 1.040,000 520,000 11,896,029 10,838.554 Current asgets Debtors 21 196,115 186,799 Cash at bank arKI in harvj 826.918 1,386,603 CredltopJ: amounts falling dLNry wlhln one year 13*9161 1129,706) Not GurrpDt assets 791002 1.256 897 Net assets 12 687 031 12.095 451 Charlty Funds RestrKt8d funds 23 655,882 561,051 Unrestrtcted fund8 23 11534.400 Totsl fund$ 12687031 12,095.451 The financial statements were approved by tho Trustees on 8 May 2026 and signed on thelr behaw. by. IAaJor General AS Dlcklnson CBE, Chalrnian Colonel JM uddy, Honorary Treasurer The notes on pages 21 to 34 form part of these financial stst¢ments 19
T Royal Englne•rn A8•o¢latl•n Stat•mgnt of Cash Flows For the year end•d 310oe•mbgr 2026 Note 2025 2024 ¢h In oporntlng a¢llvlll 27 921,641 Ca•h flow• from InvMtlng ACtlvltlo8 Interest and dividends Movement on br8nth fixed assets M¢)vgmgnl on Branth Investrnents Pur¢ha89 ol inve31ment properties Dlsposal of ffix•d 8sa8t investrnents 474.696 3.037 2.505 {816.0001 300.000 452,242 29,886 515,000 Cash provlded ty lu Inl Invmtlng a¢tlvltl08 266,237 1,000,658 ln¢rea$èl{decreal in cash and cash •quiv*nts in the year 589 001 Cash and eash aqLtlvabnts ¥t the beginning of year 1,219,804 1,140,787 Totsl ¢ash and ¢a8h equlvalents at th• •nd of tho year 630.803 1.219,804 An•ty•l8 ol ¢h#ng0¥ In net debt At 01 Jan 2026 At 3100¢ 2028 Cashllows Cash and 8h •qulvaknts Cash 1.219,804 589.001 630,803 20
The Royal Englnegr¥ As50Glatlon Notss to thg finaDGl•l ststom8nts For the year ended 31 December 2026 General admlnlstrallve Inforniatlon Royal Engineers Ass¢xiatKJn 1$ an uninG¢xporaled tharty in England & Wales and Scotland with the registration numbers 258322 and SC041832. The address of thg registered t)e Headquarters Royal Engineers, Bromplon Barracks, Chatharn, Kent. ME4 4UG. The Charws principal obje¢tN&s ¢onlinued to ba to prom¢)t• t efficiency of the Corps in all or any of the followng ways: by fostering E$prit de Corps and a spirit of comradeship amongst seNing and fomier members of the Corps.. to pr0ce financial and other assistance to servtng and fomier members of the Corps. their spouses. widows, widowérs and dependants who are in need,. to make grants to the Amiy Benevolent Fund The Soldiers Charity and lo such other charities a5 the Council think fil which furtrthe objectives of the Association. Accountlng pollcle¥ 2.1 B•$is of preparation of flnanclal stalements The financial statements have been prepared in accordan¢e with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Ststement of Recomrnended Practice applicable to charities prepaTing their accounts in accordance with the Financial Reporting Standard applTcable in the UK arÈd Republlc of Ireland (FRS 102) (effectNO 1 January 2019) and the Chartties Act 2011. The Royal Engineers A$8oclatton meets the definition of a Publ benefft enlty under FRS 102. Assets and liabilities are initially recognised at historitsl cost or transactti)n value unless othe158 stated in the relgvant accounting pollcy notels). The financial statements are presented in UK sterling whi¢h is the Charit$ funGtional currency, and rounded to the nearest p)und. 22 Preparatlon of th• accounts on a golng concern basls The Trustee8 assess whether the use of going concem Is appropriate, i.e., whether there are any material uncertainlie¥ rekled to events or conditions that may cast signfficant doubt on the abilty of thé Charity to continue as 8 going corKem. The Trustees make this assessment in sPect of a period of at least one year from the date of aulhori5ation for issue of the financial statements and havg concluded that the Charity has adequ*è resources to continue in operational existence for the foreseeable future and there are no matsrial uncertainties about the Charitys abilty to continue as a goin9 concem, thu5 they continue to a(lopl the going concerrb basts of &countin9 in preparing the financial statements for the fore4ee able futur&. 2.3 Fund Accountlng General unrestricted funds represent unrestricled income of subscriptions, donations and legacies which is expendable at Ihe di$cretlon of the Council in the furtherance of the objects of the Associath)n. Such fu8 may be held in order to finance tjoth working Gapilal and capital investment. Designated funds represent amounts whlch havg been put aslde out of unrestricted lunds at the discrntion of the Trustees to rneet specific purpose8. Restricted funds represent grants, donations and legaths received whkh are allocated bythe d¢)nor for spècrfk purpose. These are the Gabriel & Kitchener Scholarship funds whh are explained in detail on pag8 1 in thg Trus196s' repJrL Investment inGom8, gains and b)¥ses are allocated to the appropriate fund. 21
The Royal Englnoers AGsoclatlon Notès to the financlal statements For the year ended 31 Deceffll)or 2025 ArKounting polkles (contlnued) 14 InGom• l income ig recognised once the chty has entiern to the irKome. it is probabl8 that Sithcrpth)ns Seryirwj officws. vrdThant offKers and soldiers subscni)e to the Royal Er4Jineers Central charitab Trust under the Armls Ds Pay Schwne. The Assock4t)n recebved 50% ofth8 Donations are irK1Ud6 in full in the incLthe antl expendiiure xcounts on a receipts basis. Gift AKI donaknons arn included in the uKome and experKIitU account on a receivabb basis. 25 Expendllur• Liabilities are recffjnised as exrnditur¢ as s(w as there 15 an oblthn to commiting the charityto the eXp#ure. All eypltUrE is accounted xcrua15 basis. Grants payablè are payThents made to thyd paities in furtherarKe ofthe chariable objects Sh¢h in note 13. The cost of gen8ralY furth consksts of irNesknent. mwment. and ¢atsin legal fees. 16 Tanglble fixgd ass•ts and deprnciation REA assets. includin9 th08e pUhase¥ by 8T•Kh8S, Costvy more than £1.OC(l are cawklised. Depreciat)n is charged on assds a Straht line ba$15 over thr estimated Ibfe on thefdbAryrvJ basis.. FLXtures and Gerwal property Comput equiFKnent 10% w annum 10% pernurn 21rA per annum 2.7 Inveslmw Invesknents hekl as fwl assets are included in the accounts at fdhmtion based on their bh PfKe al th& balan Sheet d. The Statement offinancial activitses IrdeS the gains and losses ar1ng on rwahJations arKI dtspwb Ihr¢)LW3hrt Ihe yaar.
Th• Royal EngInlS Assoclatlon Notes to th8 financlal statements For the year endod 31 DfjGemr 2025 Accountlng pollcle• (conllnuedl 18 D•btorn Trade and other debtorn are recogni8ed at the Settnert affnL Prmments are valued at the amount prepard. 19 Cash at bank and In hand Ca8h at bank arrfl in kAnd indudes ca8h and sh¢Jrt tem) liquid in%wtm8r)ts a Short maturity of Ihree months or from th8 date cl acquiBitK)n LY owing of the depo8bt or slmihr account. 2.10 Uabllltl•• Llabllllles are recognised I*Tr ther& 15 an obl¥ation al the Balance St1 date as a r8suIt of past event, it 18 probabl8 that a trarffjfer of ecOn1C benefft wll be requ5red in settlgm•nt, and the amount of tho 8ètlJèmont ¢an b8 estlmated relwbw. Ltabililies are recogni6od al the omount that the charity anti¢ipates il w1 pay to 8ettle the debt or tho amount It has r8ceNed 0$ advanced payments for the gocés or seNKes rt mu81 PTO¥Kle. PmM6ion$ ara measurgd 8t the best estimate of the amounts requwed to selt1• tho obbJatlon. Where the effect of thg time value of money 15 material. the provisvjn 15 based on tha present value of th08• 8mounl$. discounted at th• pr84ax discount rat6 that retlects the rtsks 8pgufic lo the li•bility. The unndIng of th• dC( ti recogniMd Ihlthkn Irrterest Pay0b •kl •lmlar charges. 111 Fln•nclal In•tfum•nts The charty onty has financial assets and finartkql liabililie8 of a kind Ih8t qu•llfy a8 ba8iC financk81 instrument8. Bas financAal instruments are initialty recogntsad at Iran8action val and subsequentty measurnd at their setl1ennl v8lug wilh tho exception of bank loanj which are 8ubsequentty measured at amort1 ¢<Mt th? •ff•ctl¥e interest method. 2.12 P•n•lono The charity cFerates a defined contribUtn ponSft s¢heme and the pension ¢harg¢ represents the amounts payth by the dwrity to the fur in respect of tho yoar. 113 Donat•d s•ThlcM and Ixlllll•• Intan0[b Income. whkh comprises dongted seTrryces. • included in incwng at a valuation thich is an estimatè cl th• finanual cost bome by the dcrfmx wh8re such a cosl quantifiable and me88urable. This amount 18 matched by inkngibl8 expendlture. 114 Tender pollcy Trustees introdLKed 8 lender that Cows oxpthNIMure: 8. 8eten £2.Sk arKI £Sk b. Bdween £5k and £11 . Over£11
Th• Royal Englno0rn A8oclatlan Notes to the $tstom•nts For tho yw endod 31 Doc•mbor 2026 xcounllng {c4xrtln4wd) 2.15 Tax•tlon 2.18 crftlc•l a¢¢ounttng ••tlm•t•# Ind affM• 0ljw1yn Eslimates aThl are continuaty v48lugl•J ore ba8fjd on tr4stod¢o1 and other facttys. ¥J11j ollulure e¥erts that We belioved lo be reanAtIO (mder the droJMst)C. Tho Chathy dotrs not have any acts)ling 24
Notes to the financlal 8tat•m8nts Fly th? yoaronded 31 t)enber 2025 Total funds 2024 fund¥ fund 2025 202S fund¥ 2025 3 Donatlon8 & LegaGles (Nrte 4) INe S) otè 61 (Note TJ 170.n4 170,T24 114.184 100.rJJ5 SLknpliCs tlonatpjj seThThs and faafibes 480.WJ n.231 452.763 67.87S n.231 1019 313 1019313 n7.307 4 Donatlon8 G¥1 DOnatK)r frorn brandS Tax rthnd Website donafjo Annual din1 reCpts lizende receijts 116.832 116,832 81.992 61 788 27.163 6.693 43.759 6.693 43.769 4.180 114.164 S Loy¢le4 Lggy Trn Legacy Baldry Small Bequests 21,735 21.ns 10.005 11)0.005 6 Grnnts H8M CharitabteTnt 7 Sub*erIO and tax Mombwshlp Grant from RECCT {reWe$ of Dws Pay S¢hwM subsulplcffts to RECCT) 24624 ZJ.244 429.519 452.763
The Royal Englneern As50Ci•tion Notes to the IlnanGlal statements For thg yur ènd•d 31 December 2025 UnY•strfcted Restrlcted funds funds 2025 2026 Total nd$ 2025 Totsl funds 2024 8 Donated servlces and facllitlo8 In 2025. donated services and facilities consisted of.. Donated staff lime Donated facifjtie5- office premise$ and utilities Total 60,739 60,739 55,408 12,467 12.492 12.492 67.875 9 Other tradlng aGtlvltlos Esprit de Corps income 180,012 180,012 149,433 180012 180012 149,433 10 Investment Income Investment Propety Rent DMdends-Armed Forces Charitigs Fund Bank interest DIendS Mccabe Fund 40,051 323N39 2A31 40.061 347,115 24,450 379.981 4.650 43.181 452 242 23,676 132 Of the total investment income received: £474.69612024.. £446,57SI, £450,887 was from unrestricted fund$12024.' £409,345) and £ 23.808 wa$ from restricted funds (2024: £42,897). 11 Othèr Incom8 Sundry inMme Slable Be$ Fundraising Refund previou8 years grants 49,402 8,261 49.402 8,261 29,633 4,470 9.116 54.835 12 Ralslng Funds Recruiting
The Royal Englnwrs Assoclallon Not•$ to the flnanclal statements For tho year end•d 31 D•cthnb•r 2025 13 Chathable Actl¥ltt Support costs 2026 Total 2025 2026 2024 Benevolence INe 14) Espnt de cOS (Note 15) Donated flItIeS & staff costs 663A08 260,952 924,360 1,012.625 661214 328,391 989,606 883.986 662 $74 1987 196 1964 485 £1,838.901 of thoritsO bvities experKture from Unrestri fv{2O24. £1.805.340) and £75,064 wa8 lffjm re8trI1 fund8 (2024: £160.3011. 2026 2024 3upport ¢08ts Donated fa¢lkl8B. offieo pr8mlM• and uliMi•6 12A92 12,487 Tot•1 nd• 2026 Tcrtal funds 2024 fund¥ funds 2025 14 B•n•vol•n¢• grnnts •nd •llowan¢ Dlr•¢t M•ts Grnnts Christmas grants W8okty allowonc¢8 Amiy Banlent Fund SSAFA Famille8 H Other charit M¢Cab• Grant• Refund Pr6vknu8 Yoorn Grnnts 76,084 303,073 7,390 98.403 70.000 32,OlJO 406.198 7.790 101,582 66.000 30,000 105,000 97,789 7,390 98,403 70.000 142,328 142A28 688.344 76,064 663h08 814.339 Support costs Cornmitieg & Trnvol ¢osts Audit Fees & Subscrp Insuranc• Administration Post & Telephono Depredalknn 10,944 6.321 11,673 1,162 10,944 6,321 11,673 1,152 9.704 6,147 42 7,971 5,367 8,921 1.605 15,762 5,041 52 260.962 260,962 198.286 924 360 1012.625 The CoMperatr foi th8 Prev*x Years <¥aTts 15 inckKbJ wthin Other IrKm ts 2024. hov•rnr 27
Th• Roy81 Englnogrs At1&t10n Notes to the financlal ¥t•tsrnonts For the yoar 0nd 31 Dècember 2025 Unrestrlcted Rostrlctsd funds funds 2026 2025 Total fund8 Total 1S E8prlt de Corp8 DITect costs Corps achvitS Branch donations Branch activltles Annual Dinner ljzendijke Vit Memorials 281,270 29,342 311,985 9.760 281.270 29,342 311,98 9,780 353.396 16,513 245.002 143 10.375 28.857 661.214 28.857 661.214 625.429 Support ¢osts Committee & Travel costs Audit Fees & Subscriptions In$uran¢8 Admini3lralion Posl & lelephono Depre¢iai¢on Staff Costs 43.776 6,322 11,673 1.152 12,782 6.147 791 245.749 43.775 6.322 11,673 31.883 5,367 8,¥21 12.782 6.147 791 245.749 17,407 S,041 187,34S 328.391 328.391 258,557 883,986 16 Nèt Income l Expendlturn This is staled after tharging: DeprerAai¢on of tangible fixed as80ts.' . owned by the charity Audllorf8 remuneratton 833 7,120 10,734 Durtng the yw. no Trustees receNed any remuneration12024- £NILI. During the year. no TrusteeB receNed any benefft$ In kind12024- £NILI. Trnslees reved reimtwrnement of expenses amounliNJ lo £4.035 in the current yew. (2024- £NifJ. Total fun 202 Total funds 2024 17 StAII ¢08ts St¥ff C4xts were a5 follrpws.. Wages and Salaries ScKial Becrity o)sts Pension costs 398.563 37.125 25.030 298,622 18,%J4 23,898 l)onat•d otAff tlmo 55,407
Th• Royal Engln•orn A¥¥oGlatlon Notes to th• flnancl•l $tatemonts For tho y¥ 6nded 31 Docamb•r 2025 T¢)tal nd8 2025 Total funds 2024 17 Staff ¢ts contlnuod The v•rago numb8r of p8r80n8 employed by the Chadty dun9 the year was a8 folbw8.' No. 20 No. 18 Management And •dmini$lr•lion of the tharity The average h&ad¢ount exprossod a8 full-tim• •quival•nt• wa$.. No. 11 No. 11 M•n8oèm•nt 8nd dmin181r•llon of th• (*arfty The number of employ•e$ who80 b•nefits lexcludlng omployer non costs) •xceod•d £60,000 wa8: 2026 2024 No In the band £70,001- £80,000 The total employffl•nt b•n•fil• Includln9 •mploy•r p•n•lon contdbulion• of th• key manapment r8onn•l were £91,585 (2024- £88,888). 18 Tanglbh flx•d a••ots Unro¥trfctsd D•8lgnAtsd Flxlurn8 & flttlng• UThr••trlctsd G•n•rnl Proporty VnM•trlctsd G•n•ral Computsr •qulpm•nt Total Co¥t At 1 January 2026 Mov•monl In branch 83,029 12,3871 7,724 7,979 98,732 12,387) At 31 Dec•rnber 2025 Dgpr•clatlon At 1 Jonu•ry 2025 Charge for the year D•prnclallon on dlJpo8al 11,018 7,532 192 6,082 640 26,629 832 At 31 December 2025 Not book valu• At 31 December 2025 At 31 D8camb8r 2024 192 29
The Royal Engineers Asgociatlon Notss to the financlal statements For the year endod 31 Decembgr 2025 19 Flxed asset Investmentg Llgted Branch securllles Investments Total Market value Al 1 January 2025 DispDsals Revaluations movVant on branch investments 10,226,580 1300,OQDI 843,849 18,770 10,245,350 1300,000) (2.505 (2.$05) At 31 December 202S 10 770 429 10786694 Hi8torical cost 4 006,824 1750,192 5757016 Inv8stmgnts at market value comprfse: 2025 2024 Listed investments Branch investments Total market value 10,TIO,429 10,226,580 10245 350 All of the fixed asset inve¥lment5 are held in the UK. IAat•rfal Investments All invgsted fvnd5 were held in the BLK Arned Forces Charities Growth & Income Fund, managed by Bl8ckRock Inv&stmgnl Managers Ltmiled. 20 Invostment Propertles Freehold Investment Propgrty Valuatlon Al 1 January 2025 Revaluation Propary Purchase At 31 December 2025 520.000 5.IX)O 515 OIJO 1040 000 Going forward the investment prop&ti6s will b8 valued on an open market value for existing use basis 30
The Royal Englneer8 Assoclatlon Notss to the flnanclal statements For th• year anded 31 Decomber 2025 21 Deblors 2025 2024 Other debtors Prepayments and accrued income Braneh Debtors 171,636 24,479 142,231 24,479 196 115 166,799 22 Credftors: Amounts falllng duo wlthln one year General creditors Trade crediior5 Branch Creditors 12,678 22.948 290 10,988 118,718 31
Th• Roy•1 En9ln8•Y A8so¢lallon Notss to th• financlal statements For the #r ondod 31 De¢ombar 2025 23 Statsm•nt offund• C¥rmtY•ar Brnught Income Expendltuv• TMn•f•rn IMI knlout IL0•> rArrl•d Fon¥ard Deg1gnat•d fund• Ballard Grants Gabriel Grnnts Branth luThds Total Dèivjnated fwmls 15V32 47,226 166.332 47.226 341 27 1341.327) 815.146 319.2311 793.049 Ggn•rnl fvnds Gera1 lunds 18.700 618 802.762 11338 100 Tolal Unr8slrided furKi¥ 11 34800 1707 9311 802 762 12 131148 RtrICt funds Kltdfier Scholatshy Fund Tolal Restri¢l8d FuThJs Tolal of fur 095 451 1731738 848.849 12 687 031 P1 Year BIW Inr¥m? Trartsfers Fward Gakn {Lo8sesl Carried Forward Oesnated tuThl$ 8allard Grants Gabriel Grants Branch fund¥ Total De5#Jnated fd$ 181.332 125,(th1 {2.7741 61.515 {289.2891 156,332 47.226 611,5B8 B15,146 607.374 838.706 2fj5.729 265.729 General fvndg General furtds 10.767.220 1 128.410 1,614.860 438 484 10 719,254 Totsl Unrestricd fund8 11,805.926 1.394.139 1904.149 438,484 11.534 400 Restricted (ur#J$ $57.332 42.897 62.$32 23.354 561,051 557,332 42.897 62.532 23.354 561.051 Tolal of fvnts 12.163.258 1437.036 1.966.681 461.838 12,095.451
Th• Royl Englrn•rn A•¢01110 Mot•8 to th? financlal •tat•rnents For tho y•ar •nd•d 31 O•c•mb•r 2028 24 An•fy•l• of n•t ••••ts b•lw••n ldI Curr•nt Y••r Total fund• 2028 funds 202S 2025 TaJ1• fu•J 888•t• Fad 8Sa•t investm8nts Inv•stm•nt prwit Currant ass•ts Cr•dltorn du• within on• 10.221297 1.1140.000 808,217 138J16) 804W7 10.786.694 1,040,000 826.911 11,701 12 103 933 593 091 12 887 031 Prlor Y1 Unr•strlcled Ro•trKknJ fvntJ• 2024 Tot•1 bJnd• 2024 Tangle fixed 88gtts FW asset Inv•8tmfjnts InVlMont pwrt Current ouets Codttors lthln or• >wr 73,204 9.677,041 73,204 868.310 10.245,351 520,000 I,388,3 I129,7} 1.382.017 1129.7fA8) 24,$88 11 502 558 $92 896 12 095 452
The Royal EnglneeT• A••ocl•tlon N¢)te$ to thg finan¢lo1 ¥tat•rnents For th• y•ar ended 31 December 2028 26 Pen•lon commltm•nts The ¢harily operateB a defined contn'butions pension stheme. The as8els of the ¥theme are held 8eparately frorn thos8 of the chArfty In an Indapandènlly adrnlnSster8d hjnd. Thè penglon cosl ChAr lèp¢M11 con¢ributlon8 payable by the chartty to the lund and amounted to £25,03012024'. £18,778). 28 R•latsd p•rty tran••ctlon• All transacllon8 vlth rnlal8d Par•1 arn dlbclo4•d In Iho Tru8le•• R•port and not•$ lo Ihe account•. 27 R•¢¢n¢lll•llon of n•t mov•m•nt In fund to n•t ¢••h tlow from oporntlng •ctlvStl•• Total Totsl fvnd8 2024 2026 N•t mov•m•nt In fiJna• Add back depredotlon charg8 Oeduct Intere81 incorne shown In Inve8tlng 8cllvltl Deduct galn8 l add back IoJ898 on inveslrnenti Deduct g8Sn8 l Add back10$801 on Inv•8lm•nl prop•rti•• 08cr8a80 (Incr8al in debtorn Increawe Idecrea8el In cr•dll¢y• 691.B80 832 1474.6861 1843.e491 16.0001 129,316) 193,710 187,8071 1.040 1452.242 1446,8381 115,0001 3.454 55,752 N•t ¢a•th u••d In op•ntln9 •thIU•1 864 238 921 e41 21 Rol•t•d yrty dl¥clo•ur• Colon•l Rl¢h4rd Bouk• Hawhln8 MBE ADC, and CSM Spenc•rWllllarn Amokl Eardl8y, Tw•t••$ ofth• Roy•l Enqlneers A88oclatlon IRFAI ore 0180 TN6tee¥ of the InsutuOn ol Royal Englneern foT whlch Ir•Th8icllon• huve taken place durfn9 Iha y•ar. Tho Royal Engln8•rn A880datlon pald over Subs¢riplions •nd olh¢r Iran8action• 01£53 to tho In8tlbJta ol Royal engine•rn whic ra tr•n$forrnd during the yeir. A• of 31 D8c8mb•r 2025 no bal8nce wa8 owed lo Ihe Inslbtute ol Royal Englnger•.12024.' £2801 Colon•l Rh•rd Bouko Hawkln8 MBE ADC, TnJ8tee ol th8 Royal Engln8arn Agsoclalfron (R) 1$ 81 TNslee8 of the Royal Engln88rn Mu8•um lor whlch tr8n•actloThs have taken place durtng the year. Durlng th• ai tha REA paid the Royal Englneers Muswm gran18 totalllng ÉSO,000. In #ddillon. REA repuid olh•r •xpèn$•$ ol £8.549 to the Royal Engineer8 Museum rolaThg to admln nd •undry rnthotgos. As of 31 December 2025. no ba1)n by the REA12024'. £nlll. The Royol EThglneer8 Mu8eum rnlmburnod £798 lo REA durfng the #1 Ml•llng lo iundry r•L*Tg••. A• of31 rJ8c8mb•r 2025. no tsalanC re 0d to REA12024.' £nlll. Colonel Rlchard Bouk• Hawkin8 MBE ADC, Mal Gen. al•8t•ir OlckinBon CBE and Corp8 SM Sp•nc•rWllllam Amold Eardky. TNst8es of th& Royal Engiwrs Aswciation IREAI are al80 Trustees of the Royal Engineer• Central Chadtoble Trust IRECCT) forwhlch trantscti¢n$ have takèn plat8 during the year. RECCT collected ¥uh¢ription Income on behalf of REA totalling £454.625 which was tranBf8rred lo th? REA dudrbg the yoar. A further £6.023 of oth•r ffjirnburBernenl¥ were made to Ihe REA in relatlon to sundry recharge8. A8 of31 t)ecember 2025, no balanu wa8 owed frnm RECCT12024.. £nill. The REA also pald £118,838 to RECCT during the •r In relation to retharge¥ lor salarfe8 and pen61ons, 9rnnts and Admln Mchafge8. AS 011 December 2025, no balance was OVEd io RECCT12024.. £nlll.