The Royal British Legion, the wealthiest military charity, recorded a total income of £163.2 million last year

Britain’s ten biggest military charities have combined assets of £1.4 billion and reserves of £275 million, prompting concerns that some may be “hoarding” cash.

An analysis by The Times has revealed that Britain’s 1,500 armed forces charities have a total worth in excess of £3.1 billion.

Questions have been raised about the amount of unrestricted reserves that some of the biggest charities have built up, as several admit they wish to reduce the amounts they hold.

Such reserves consist of cash that is not designated for a specific purpose or is restricted in how it can be used under the terms in which it was donated.

The Royal British Legion, the wealthiest military charity, began its annual poppy appeal last Thursday. Last year it recorded