THE ROYAL NAVAL BENEVOLENT TRUST (GRAND FLEET AND KINDRED FUNDS)
Financial health, per its FY2025 accounts
The accounts state that the charity achieved an operating surplus of £530k in 2024-25, a significant improvement from the previous year's deficit, driven by increased income and cost control. Per the trustees' report, unrestricted general funds stood at £16.1m, which is within the stated reserves policy target range of £10m to £16.9m, indicating strong financial sustainability.
What the accounts disclose
“Tim Forer, the Trust’s specialist Legal and Management Trustee is employed by Blake Morgan, the Trust’s solicitors. During the year £12,899 was paid to Blake Morgan (2024: £10,184) for advice on contracts and employment law matters.” — page 26
“The Trust owns a subsidiary company, RNBT Care Ltd which was created during the feasibility stage of the Admiral Jellicoe House Project but has never been used and is dormant.”
Leadership, per the charity’s website
- Commodore Russell Best RN OBE — Chair of Trustees
- Admiral Sir Tim Fraser KCB — President
- Dr Alf Crossman — Vice President and Honorary Treasurer
- Debbie Dollner — Chief Executive
- Colonel Matt Stovin-Bradford Royal Marines — Admiralty Governor
- Captain Ashley Spencer Royal Navy — Senior Serving Officer Trustee
- Lieutenant Commander Tim Forer Royal Navy — Specialist Trustee
- Nick Gartside CFA — Specialist Trustee
Structured financials (annual return, FY ending 31/03/2025)
Register events
- Received assets from another charity (03/08/2018)
- Received assets from another charity (17/06/2016)
Trustees
- Russell Bestchair
- Adrian Boswell
- Anthony Michael Maher
- Captain Ashley Spencer RN
- David Baxter
- David McGinley
- Dr Alfred Victor Crossman
- Geoffrey Hounslea BEM
- Helen Wright
- Lieutenant Commander Tim Forer
- Matt Stovin-Bradford
- NICHOLAS JOHN GARTSIDE
- Natalie Ellis-Burt
- Pauline Shaw OBE
- Peter Hopkins
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/03/2025 | £12.5m | £11.9m |
| 31/03/2024 | £9.3m | £11.5m |
| 31/03/2023 | £8.0m | £9.1m |
| 31/03/2022 | £6.3m | £5.9m |
| 31/03/2021 | £5.7m | £5.7m |
Common questions
Is THE ROYAL NAVAL BENEVOLENT TRUST (GRAND FLEET AND KINDRED FUNDS) financially healthy?
The accounts state that the charity achieved an operating surplus of £530k in 2024-25, a significant improvement from the previous year's deficit, driven by increased income and cost control. Per the trustees' report, unrestricted general funds stood at £16.1m, which is within the stated reserves policy target range of £10m to £16.9m, indicating strong financial sustainability. Its FY2025 accounts were audited by UHY Hacker Young.