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|||Page||
|---|---|---|---|
|Report ofthe Trustees|1|to|8|
|Report ofthe Independent
Auditors|gto12|||
|Statement of Financial Activities||13||
|Balance Sheet||14||
|Cash Flow Statement||15||
|Notes to the Cash Flow Statement||16||
|Notes to the Financial Statements|17 Io||25|
|Detailed Statement of Financial Activities|26 Io||27|
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|||||2020|2019|
|---|---|---|---|---|---|
|||||Unrestricted|Total|
|||||fund|funds|
||||Notes|f||
|INCOME AND ENDOWMENTS||FROM||||
|Donations
and legacies||||884,919|894,400|
|Investment
income||||956,965|1,004,000|
|Other income||||3,999|3,000|
|Total||||1,845,883|1,901,400|
|EXPENDITURE ON||||||
|Raising funds||||23,309|22,885|
|Charitable
activities||||||
|Grants to dependants|and ABFThe|||||
|Soldiers' Charity||||1,801,593|1,685,295|
|Total||||1,824,902|1,708,180|
|Net gains/(losses)
on|investments|||(121,910)|3,216,711|
|NET INCOME/(EXPENDITURE)||||(100,929)|3,409,931|
|RECONCILIATION
OF FUNDS||||||
|Total funds brought|forward|||27,856,652|24,446,721|
|TOTAL FUNDS CARRIED FORWARD||||27,755,723|27,856,652|
##
|||2020|2019|
|---|---|---|---|
|||Unrestricted|Total|
|||fund|funds|
||Notes|F|8|
|FIXEDASSETS||||
|Tangible assets
Investments|14
15|194
25,699,005|290
25,820,916|
|||25,699,199|25,821,206|
|CURRENT ASSETS||||
|Debtors|16|1,006|1,333|
|Cash at bank|17|3,004,005|2,083,834|
|||3,005,011|2,085,167|
|CREDITORS||||
|Amounts
falling due within one year|18|(948,487)|(49,721)|
|NET CURRENT ASSETS||2,056,524|2,035,446|
|TOTAL ASSETSLESSCURRENT||||
|t.lABILITIES||27,755,723|27,856,652|
|NET ASSETS||27,755,723|27,856,652|
|FUNDS|19|||
|Unrestdcted
funds||27,755,723|27,856,652|
|TOTAL FUNDS||27,755,723|27,856,652|
##
|||CASH FLOW STATEMENT|CASH FLOW STATEMENT|CASH FLOW STATEMENT||
|---|---|---|---|---|---|
||FO|THE|YEAR E|ED 31DECEMBER 2020||
|||||2020|2019|
||||Notes||8|
|Cash flows|from operating
activities|||||
|Cash generated
from operations|||1|(36,794)|(1,420,851 )|
|Net cash used
in operating
activities||||(36,794)|(1,420,851 )|
|Cash flows|from investing
activities|||||
|Purchase
oftangible fixed assets|||||(308)|
|Interest received||||3,086|5,300|
|Dividends
received||||933,351|972,661|
|Property
investment
income||||20,528|26,039|
|Net cash provided
by investing||activities||956,965|1,003,692|
|Change
in|cash and cash|||||
|equivalents|in the reporting|||||
|period||||920,171|(417,159)|
|Cash and|cash equivalents|at the||||
|beginning|ofthe reporting
period|||2,083,834|2,500,993|
|Cash and|cash equivalents|at the||||
|end ofthe|reporting
period|||3,004,005|2,083,834|
##
|||
FOR THE YEAR E DED3 DECE|
FOR THE YEAR E DED3 DECE|
FOR THE YEAR E DED3 DECE|E
2020||
|---|---|---|---|---|---|---|
|1,|RECONCILIATION|OF NET (EXPENDITURE)/INCOME|||TO NET CASH FLOW|FROM|
||OPERATING ACTIVITIES||||||
||||||2020|2019|
||||||f|6|
||Net (expenditure)/income||for the reporting|period (as|per||
||the Statement ofFinancial||Activities)||(100,929)|3,409,931|
||Adjustments
for:||||||
||Depreciation
charges||||96|143|
||Losses/(gain)
on investments||||121,911|(3,216,711)|
||Interest received||||(3,086)|(5,300)|
||Dividends
received||||(933,351)|(972,661)|
||Property
investment|income|||(20,528)|(26,039)|
||Decrease/(increase)|in debtors|||327|(319)|
||Increase/(decrease)|in creditors|||898,766|(609,895)|
||Net cash used in|operations|||(36,794)|(1,420,851)|
##
##
|ANALYSIS OF CHANGES
IN NE|T FUNDS|||
|---|---|---|---|
||At1.1.20
f|Cash flow
f|At 31.12.20
E|
|Net cash||||
|Cash at bank|2,083,834|920,171|3,004,005|
||2,083,834|920,171|3,004,005|
|Total|2,083,834|920,171|3,004,005|
##
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|||FOR THE YEAR E|FOR THE YEAR E|FOR THE YEAR E|NDE
31D CEMBE|R 2020||
|---|---|---|---|---|---|---|---|
|3.|DONATIONS
AND|LEGACIES||||||
|||||||2020|2019|
||||||||f|
||Members'
subscdptions|||||884,078|893,302|
||Donations|||||841|1',098|
|||||||884,919|894,400|
|4.|INVESTMENT INCOME|||||||
|||||||2020|2019|
|||||||f|f.|
||Property based investment|||income||20,528|26,039|
||Dividend
income|||||933,351|972,661|
||Interest on cash deposits|||||2,289|4,927|
||Charities Trust Gainshare||interest|||797|373|
|||||||956,965|1,004,000|
||RAISING FUNDS|||||||
||Raising donations|and legacies||||||
|||||||2020
f|2019|
||Staffcosts
General insurance|||||22,143
195|21,940
193|
||Printing,
postage, stationery,|||telephone|and internet|323|409|
||Sundries|||||18|98|
||Books and software|||||93|102|
||Repairs and renewals ofequipment|||||441||
||Depreciation|||||96|143|
|||||||23,309|22,885|
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||||||||||Grant||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||funding|of|||
||||||||Direct||activities||Support||
||||||||Costs (see||(see note||costs (see||
||||||||note 7)
f||8)f||note 9)
f|Totals
f|
|Grants to|dependants|||and ABF|||||||||
|The Soldiers' Charity|||||||33,484||1,754,000||14,109|1,801,593|
|DIRECT|COSTS|OF CHARITABLE||||ACTIVITIES|||||||
||||||||||||2020|2019|
|Staffcosts|||||||||||31,633|31,343|
|General insurance|||||||||||280|277|
|Printing,|postage,||stationery,||telephone||and internet||||464|589|
|Sundries|||||||||||27|141|
|Books and software|||||||||||133|145|
|Repairs,|renewals||and office equipment||||||||635||
|Foreign exchange|||||||||||312||
||||||||||||33,484|32,495|
|GRANTS PAYABLE|||||||||||||
||||||||||||2020|2019|
||||||||||||f||
|Grants to dependants||||and ABFThe Soldiers'||||Charity|||1,754,000|1,640,000|
|The total|grants paid to institutions|||||during the||year was as|||||
|follows:|||||||||||||
||||||||||||2020|2019|
|ABFThe|Soldiers'||Charity||||||||929,000|800,000|
|The total|grants|paid||to individuals||during the year was as|||||||
|follows:|||||||||||||
||||||||||||2020
f|2019
f|
|Beneficiaries ofdeceased members|||||||||||825,000|840,000|
##
##
||||||||Governance|
|---|---|---|---|---|---|---|---|
||||||||costs|
||||||||f|
||Grants to dependants||and ABF||The|||
||Soldiers'|Charity|||||14,109|
||Support|costs, included|in the|above, are as follows:||||
|||||||2020|2019|
|||||||Grants to||
|||||||dependants||
|||||||and ABF||
|||||||The||
|||||||Soldiers'|Total|
|||||||Charity|activities|
||Wages|||||8,587|8,495|
||Social security|||||813|820|
||Pensions|||||90|88|
||Auditors'|remuneration||||2,880|2,880|
||Indemnity|insurance||||953|953|
||Auditors'|remuneration|over|||||
||provision|last year|||||(480)|
||Subscriptions|||||746||
||Books and software|||||40|44|
|||||||14,109|12,800|
|10.|AUDITORS' REMUNERATION|||||||
|||||||2020|2019|
|||||||6||
||Fees payable to the charity's|||auditors for the audit ofthe||||
||charity's|financial statements||||2,880|2,880|
|11.|TRUSTEES' REMUNERATION||||AND BENEFITS|||
##
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##
##
|STAFF CO|STS||||
|---|---|---|---|---|
||||2020|2019|
||||8|6|
|Secretary's|salary||37,008|37,047|
|Other staff|salaries||20,239|19,585|
|Social security|||5,419|5,466|
|Secretary's|pension|contributions|||
|Other staff|pension|contributions|600|588|
||||63,266|62,686|
##
##
|||Office|
|---|---|---|
|||equipment|
|COST|||
|At 1 January 2020 and|||
|31 December 2020||1,470|
|DEPRECIATION|||
|At I January 2020||1,180|
|Charge for year||96|
|At 31 December|2020|1,276|
|NET BOOK VALUE|||
|At 31 December|2020|194|
|At 31 December|2019|290|
##
|FIXEDASSET INVESTMENTS||
|---|---|
||Unlisted|
||investments|
||f|
|MARKET VALUE||
|At 1 January 2020|25,820,916|
|Revaluations|(121,911)|
|At 31 December 2020|25,699,005|
|NET BOOK VALUE||
|At 31 December 2020|25,699,005|
|At 31 December 2019|25,820,916|
|market values at the end|ofthe yea|r as follows:||,
|
|---|---|---|---|---|
||||2020
f|2019
f|
|The Armed Forces Charities
Growth||& Income Fund|20,354,30
0|19,419,80
0|
|Mayfair Property
Income|Trust for Charities||445,434|473,425|
|M&G Equities Investment|Fund for|Chadties|4,899,271|5,927,691|
||||5,699,005|5,820,916|
##
|DEBTORS:AMOUNTS|
FALLING DUE WITHIN|ONE YEAR||
|---|---|---|---|
|||2020
f|2019
f|
|Members
subscriptions|due|3|4|
|Other debtors|||308|
|Prepayrnents||1,003|1,021|
|||1,006|1,333|
##
##
##
|||2020|2019|
|---|---|---|---|
|||Total|Total|
|||funds|funds|
|||8|9|
|Clearing|bank account|2,131,116|1,213,234|
|Charities|deposit account|872,889|870,600|
|Total||3,004,005|2,083,834|
##
|2020
f|2019
E|
|---|---|
||27|
|944,000|45,000|
|1,447|1,814|
|160||
|2.880|2,880|
|948,487|49,721|
##
|MOVEM|ENT|IN FUNDS||||
|---|---|---|---|---|---|
|||||Net||
|||||movement|At|
||||At 1.1.20|in funds
f|31.12.20
F|
|Unrestricted||funds||||
|General|fund||27,856,652|(100,929)|27,755,723|
|TOTAL|FUNDS||27,856,652|(100,929)|27,755,723|
|Net mov|emen|t
in funds,
includ|ed
in the above are as|follows:|||
|---|---|---|---|---|---|---|
||||Incoming|Resources|Gains and|Movement|
||||resources
f|expended
f|losses
F|in funds|
|Unrestricted||funds|||||
|General|fund||1,845,883|(1,824,902)|(121,910)|(100,929)|
|TOTAL|FUNDS||1,845,883|(1,824,902)|(121,910)|(100,929)|
##
##
##
||||||||Net||
|---|---|---|---|---|---|---|---|---|
||||||||movement|At|
|||||||At 1.1.19|in funds|31.12.19|
||||||||F|f|
|Unrestricted||funds|||||||
|General|fund|||||24,446,721|3,409,931|27,856,652|
|TOTALFUNDS||||||24,446,721|3,409,931|27,856,652|
|Comparative||net movement|in funds,|included|in the|above are as|follows:||
|||||Incoming||Resources|Gains and|Movement|
|||||resources||expended|losses
f|in funds
f|
|Unrestricted||funds|||||||
|General|fund|||1,901,400||(1,708,180)|3,216,711|3,409,931|
|TOTAL|FUNDS|||1,901,400||(1,708,180)|3,216,711|3,409,931|
##
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##
||F|OR THE YEAR E DED 31D|ECEMBER 2020||
|---|---|---|---|---|
||||2020
f|2019
F|
|INCOME AND ENDOWMENTS|||||
|Donations
and legacies|||||
|Members'
subscriptions|||884,078|893,302|
|Donations|||841|1,098|
||||884,919|894,400|
|Investment
income|||||
|Property based investment||income|20,528|26,039|
|Dividend
income|||933,351|972,661|
|Interest on cash deposits|||2,289|4,927|
|Charities Trust Gainshare|interest||797|373|
||||956,965|1,004,000|
|Other income|||||
|Employers
N.l.allowance|||3,999|3,000|
|Total incoming
resources|||1,845,883|1,901,400|
|EXPENDITURE|||||
|Raising donations
and legacies|||||
|Wages|||20,036|19,821|
|Social security|||1,897|1,913|
|Pensions|||210|206|
|General insurance|||195|193|
|Printing,
postage, stationery,||telephone|||
|and internet|||323|409|
|Sundries|||18|98|
|Books and software|||93|102|
|Repairs and renewals ofequipment|||441||
|Office equipment
depreciation|||96|143|
||||23,309|22,885|
|Charitable
activities|||||
|Wages|||28,624|28,316|
|Social security|||2,709|2,733|
|Pensions|||300|294|
|General insurance|||280|277|
|Printing,
postage, stationery,||telephone|||
|and internet|||464|589|
|Carried forward|||32,377|32,209|
##
##
|D|ETAILED STATEMENT OF FINA
FORTHE YEAR
DED 3|NCIAL ACTIVITIES
CEMBER 20 0||
|---|---|---|---|
|||2020f|2019f|
|Charitable
activities||||
|Brought forward||32,377|32,209|
|Sundries||27|141|
|Books and software||133|145|
|Repairs, renewals
and office equipment||635||
|Foreign exchange||312||
|Grant to ABFThe Soldiers' Charity||929,000|800,000|
|Grants awarded
to dependants||825,000|840,000|
|||1,787,484|1,672,495|
|Support costs||||
|Governance costs||||
|Wages||8,587|8,495|
|Social security||813|820|
|Pensions||90|88|
|Auditors'
remuneration||2,880|2,880|
|Indemnity
insurance||953|953|
|Auditors'
remuneration|over provision|||
|last year|||(480)|
|Subscriptions||746||
|Books and software||40|44|
|||14,109|12,800|
|Total resources expended||1,824,902|1,708,180|
|Net income before gains and losses||20,981|193,220|
|Unrealised
gains and losses||||
|Gains/(losses)
on investments||(121,910)|3,216,711|
|Net (expenditure)/income||(100,929)|3,409,931|