Charity Number.. 1075109 CHARITY COMMISSION copy BRITISH FORCES FOUNDATION (COMPANY LIMITED BY GUARANTEEI (REGISTERED (MRITY) TRUSTEES. REPORT AND UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
BRlSH FORCES FOUNDATION CONTENTS TO THE FINANCIAL ATEMEIrS FOR THE YEAR ENDED 31 MARCH 2024 Page Legal and administrative detai15 Trustees. Report Independent Examiners Report ststement of Financial Activities io Balance Sheet li Cash Flow Statement 12 Notes to the Financial Statements 13
BRITISH FORCES FOUNDATION LEGAL AND ADMINisfRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2024 Status The organisation is a company limited by guarantee, incorporated on 30 March 1999 and registered as a charity on 15 April 1999. Company number 3745373 Charity number 1075109 Registered and Principal office IOA High Street Pewsey Wiltshire SN9 5AQ Chairman Air Vice Marshal M Wiles CB CBE Chief Executive Isomeiimes referred to as 'Director' as a job title but not a direttor of the cornpanvl MJACann Patron HM King Charles 111 President Mr L Mansfield Vice-presidents Major General Arthur Denaro CBE Admiral Sir Jock Slater GCB LVO DL Field Marshal The Lord Guthrie GCB LVO OBE Bankers The Royal Bank of Scotland Holt's Farnborough Branch Lawrie House Virtoria Road Farnborough Hampshire GU147NR Solicitors Appointed on specific needs basis as and when required Independent Examiner Nicholas Jones FCCA Fawcetts LLP Chartered Accountsnts Windover House St Ann Street Salisbury SPI 2DR
BRITISH FORCES FOUNDATION (COMPANY LIMITED BY GUARANTEEI TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their report and the independently examined financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of the Statement of Recommended Practice ISORPI "Accounting and Reporting by Charities" in preparing the annual report and financial statements of the charity. The financial statements have been prepared in accordance with the accounting policies setout in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities-. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019. Legal and administrative information set out on page I forms part of this report. REFERENCE AND ADMINISTRATION DETAILS Brit15h Forces Foundation is a company limited by guarantee and a Charity registered with the Charity Commission. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Document The Charity is regulated by its Memorandum and Articles of Association adopted on 30 March 1999 and last amended on 27 February 2005. The Trustees All the trustees of the Charity are also directors of the company. The Board of Trustees is responsible for the overall governance of the Charity. There are to be a minimum of three Trustee5 on the Board. but no maximum 15 specified. The directors who served during the year and up to the date of this report were as follows: Appointed Resigned Mr L Mansfield Lord Robertson KT GCMG PC Miss K M Jenkins OBE BMUS IRAMI ARAM Lieutenant General P T C Pearson CB CBE SirGerald Howarth MP Mrj W C MoirCBE LVO KSG Air Vice Marshal M Wiles CB CBE Chairman Srigadier A Thomson Msc MBA FIEF C Eng Wol Michael Stanion Lieutenant General Phil Jones CB CBE DL Katharine Pooley Mr Andrew Pike 30-Mar-99 04-Nov-04 04-May-06 21-Sep-06 19-Mar-09 31-Oct-13 11-Jun-15 16-Mar-16 02-Nov-22 02-Nov-22 01-Mar- 20 04-Mar-24 07-Sep-23 The names of senior executive staff and the independent examiner of the Charity are set out on page l. Definitions- Input - fundraisin& sponsorship and donations. Output- product of the Charity fulfilling its charitable objertives. Recwitment, appointment and training of trustees Trustees are appointed by the members at the next available Trustee meeting of the Charity after nomination by the Trustees as required by the Charity's Articles of Association.
BRITISH FORCES FOUNDATION (COMPANY LIMITED BY GUARANTEEI TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 Recruitment. appointment and training of trustees continued All the Trustees either work for. represent or are trustees of another UK registered charity. In addition, each Trustee is given a copy of CCI Charity Commission Publications and CC3 The Essential Trustee: What you need to know, on appointment. All new Trustees attend an induction day and a number of discussions with professionals about the work of the Charity, its consummate responsibilities and their responsibilities as a Trustee. The Chief Executive is constantly available to advise Trustees on their responsibilities and recommend Charities Aid Foundation courses. The Charity is a member of the Fundraising Regulator and COBSEO (Confederation of British Service and Ex Service Organisation51. The CEO 15 a member of ACEVO. Management In addition to the Governance meetin& under normal circumstances the Board will meet on four occasions each year where Trustees review performance and as necessarythe future operating plans and budgets. Extraordinary Board meetings are also held when required. The Finance Committee meets approximately six times a year to monitor investments, renumeration, set the budget and make any adjustments to the financial management. The Fundraising Committee meets 2 times a year and takes an in-depth look at the risk, style and effectiveness of all fundraising activity- The Charity has approved a Data Protection Policy that includes the new General Data Protection Regulation IGDPRI that came into force on 25 May 2018. The Board delegate the exercise of certain powers in connection with the management and administration of the Charity to M l A Cann (Chief Executive). This is controlled by requiring regular reporting back (against approved budgets) to the Board $0 that all decisions made under delegated power are briefed to the full Board. M J A Cann is responsible for the day-to-day management of the Charity's affairs, all the Charity's operations, and events and for implementing policies agreed by the Board. Risk Assessment The Trustees have identified the major risk5 to which the Charwty 15 exposed. reviewed those risks and have established systems to mitigate those risks. The Charity has a Risk Management Policy and Register that is regularly reviewed by the Executive and Trustees. ORGANISATION The Charity is delighted that HM The King has agreed to be its Patron as he did in his capacity as HRH The Prince of Wales, maintaining a relationship that has lasted 25 years. The Charit5 office is in Pewsey. Wiltshire. The Charity employs a full time Chief Executive. The Charity has successfully employed three disabled ex-5ervicemen and will endeavour to do so again soon. A suitable p05t has been identified and discussion5 are underway with another service charity. The Charity also retains the services of a Marketing and Research Expert, who manages the website, co-ordinates PR, produces all print material and assists with input and output events and an additional consultant working on special projects. The charity employs the services of a part time Charitable fundraiser (approximately 5 days per month specialising in Trusts and special fundraising events (marathon and AFC) and a bookkeeping company, Riverview Portfolio Limited a local accounting firm. Additional expert15e and staff are hired to handle specrfic productions/events/projects whether input or output on a case-by-case basis. These tend to be the same people who are well known to the Charity and particularly good at dealing with the specific difficulties of productions in war zones and on military property. Though not on any retainef, these people are permanently available to the Charity. Their impressive loyalty to the Charity remains worthy of note. ENVIRONMENTAL CONSIDERATIONS The Trustees take environmental issues seriously. To that end, they have encouraged, where possible. environmental considerations in all aspects of the Charity's operations. Whilst the Charitys output necessitates a high volume of travel and working hours. the Charity endeavours to Use trains and public transport wherever possible and continue to minimise air travel. The Charity has taken advantage of the Government 'Cy(le to Work, initiative in the past and one employee regularly 'cycles to work,. This is similar to a policy internally developed by the Charity in previous years. The Charity has fully embraced the local council's recycling scheme.
BRITISH FORCES FOUNDATION {COMPANY LIMITED BY GUARANTEE} TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 OBJEcfivES AND AcnviTIES The principal objective of the Charity, as set out in the Memorandum and Articles of Association, is to "promote the efficiency of the Armed Forces by charitable means, by promoting the well-being and esprit de corps of all setving personnel primarily through entertainment". It remains the special intention of the Trustees that the Foundation contributes to the enhancement of both the quantity and quality of live entertainment currently provided to Service men and women both at home and overseas and contribute5 to the community and connectivity of the armed forces. This is achieved bythe Foundation continuing to fund and produce its own shows to entertain the military community, especially, but not exclusively. those on operational tours of duty. The Foundation uses its influence to persuade major artistes to take part in its events and shows as charitable activity li.e. charging no feel. The Charity will continue to ensure the provision of entertainment be on a 'need' basis evaluated to the outcomes, to ensure the right people get the right entertainment of the highest possible quality at the right time for the lowest cost to both the charity and in any formal arrangement with the MOD. The Charity remain5 contemporary and lateral in its approach asthe Trustees seek other methods to enhance troop morale through entertainment and other mediums. There has again been significant activwty in this area dLbring the yeai. The Charity continues to highlight important aspects of welfare to the Ministry of Defence and government in general. In the year, the Charity carried out a few activities in partnership with other settor charities. The Charity will further develop these and other partnerships and is always willing to consider a merger with other charities. Although considerable work has been done by the Charity in this area, not least to honour the agenda of COBSEO and the Charity Commission, it has encountered considerable reluctance from all those it has held discussions with. As a corollary to this the Charity also goes out of its way to make it known that it is happy to help and advise others on entertainment, events and using celebrities effectively. A notable exception to this has been with the Burma Star Memorial Fund with whom the charity entered into an effective Cooperation Agreement in 2021 which remain5 extant. The charity is beginning to develop a relationship wwth Supporting Wounded Veterans ISWVI. The Charity is particularly pleased wwth the effert and popularity of its travelling Pantomime project that tours UK twice a year during the Easter and Christmas periods. The output has grown with an average annual demand of 70+ shows in UK, Cyprus and Germany. These are very popular with serving families and increasingly single "young" setving personnel l This will continue to evolve. The role of broadcast media as part of the Chariws output remains a feature of the Foundation's contribution to the Armed Services and to Service men and women. The expansion into making short films such as the annual Chri5tma5 message is an important part of the Charitvs output activity. which will continue to expand in tandem wwth the Chariws Video on Demand IVODI and digitlsation programme, using social media to further communicate with Service men and women to offer support and boost morale. The Charity is still in discussions (delayed by intransigence) about a Radio project, a TV one off programme project with BBC/ITV and a short film project. Research is important to the Charity's activity and the Charity will look to condurt further research in important areas to a5515t it in providing help and assistance in the geographical areas that need it most and in hitherto neglected areas of welfare. Health messaging and engaging with early service leavers (before they leave) are two areas that have been identified in the year. Research is an important aspect of keeping evaluation and monitoring relevant and up to date. The Charity contributes to a wide number of research projects. ACHIEVEMENTSAND PERFORMANCE The number of Output shows in the year has dramatically increased including to deployed units.
BRITISH FORCES FOUNDATION (COMPANY LIMITED BY GUARANTEEI TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 ACHIEVEMENTSAND PERFORMANCE continued Alongside the increased number of shows a particular achievement of the year was 'yet' another successful trial and further development of BFF TV IVODI. It is fully tested in the most arduous of deployed conditions and has been extremely well received. The SF trial Unit concluded their report by saying 'we consider it inconceivable that we will deploy without the BFF box again,. Trying to get acknowledgement from civil servants and officers in the welfare space continues to be extremely frustrating. What is in no doubt is,. the BFF VOD works, is wanted, is extremely popular and is different from anything else that is provided as well as being particularly adapt at servicing the areas most welfare cannot reach. The story 15 not untypical. Such an innovative and contemporary solution embraced by the young men and women of the Armed Forces will always experience a lag. The pace of change in habits, taste and use of entertainment is rapid and to an extent the lack of comprehension is understandable. The consequence is however a grave failing to those who (leserve better. The charity is receiving enqijiries from other NATO countries and indeed some are using a version of VOD (even on submarines) and yet (lespite the clear demand amongst the military community the will to move forward is absent without an explanation. The Trustees are very satisfied with the beneficiary feedback and monitoring and the praise BFF has received from audiences for its conduct and effectiveness during the year. Major event reports are published on social media when appropriate. The Charity's relations with broadcast media continues to be sound and it has worked on a variety of programmes and projects during this reporting period. During the year the Charity further developed its digitisation programme, and social media interactivity. These programmes are firmly meant to communicate between the public and those on the frontline. This corollary of the Charity's activity continues to be endorsed by the Charity's on-going'Lap of Honourf programmelcampaign although it is acknowledged that in recent years this has lost momentum due to the lack of kinetic military activity, which is a good thing. The trustees are very pleased with the recent website upgrade. The Trustees are satisfied that the Charwty is progressing as intended and are content that the aims of year twenty-four were achieved. The Charity's website www.bff.or8.uk and Facebook has detailed accounts of all BFF input and output activity. Trustees wish to draw particular attention to the fact that the Charity achieves impressive leverage from the donations of individuals, (major starsl time and talent. Independent valuations of such donations in kind far outstrip the total income of the Charity. The charity holds this data and can confidently state it equates to an average of more than £lm per year. The Charity IS indebted to those who give their time and considerable talent, in difficult circumstances, in this way. The fundraising targets of the Charity are being reached. A 5at15factory level of funding is achieved for the Charity's Output activities. Trustees are particularly pleased with the Cooperation agreement they entere(l in December 2021 with the Burma Star Memorial Fund IBSMF as mentioned above). This has proved to be a great success in re(lucing both charities running costs by sharing resources and fundraising events. The model is simple and effertive to great mutual benefit and is worth repeating. The Trustees are confident the Charity is achieving all its objectives and continues to be lateral and imaginative in its approach and remains a going concern. INVESTMENT POLICY and PERFORMANCE A reserve of cash deposits is held with banks authorised by the Trustees. The purpose of this reserve is to be available to cover fluctuations in cash requirements through the course of the year and to allow for an orderly restructuring of the organisation in the event of a sudden and sharp reduction of income. The remaining reserves are marked for the medium-term development of the Charity. The most important objective of this fund is to earn the highest total return within an acceptable level of financial risk. The principal investments held at the year end are holdings in the Armed Forces Growth and Income Fund with the BlackRock Group. and Waverton charitable fund. The investments were monitored regularly during the year against a comp051te index of benchmarks. The quoted investments showed a capital gain during the year of £40,255 12023 capital loss £150,411). The investment performance over the period was volatile but satisfactory. Against comparable products the Charitys investments performed well.
BRITISH FORCES FOUNDATION (COMPANY LIMITED BY GUARANTEEI TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 INVESTMENT POLICY and PERFORMANCE continued The charity is now investing cash reserves and receiving a respectable return from RBS. Trustees are grateful that the policy to build Reserves has proved incredibly prudent during the Transition post Op Herrick, the cancellation of the Live Entertainment contrart and uncertainty over MOD welfare fijndirbg. As a policy the charity has never relied on MOD funding. The Charity carried out an Internal Governance review and a Strategic review during the year and is satisfied with its governance procedures and oversight and is monitoring identified areas of potential concern. It believes it5 current strategy is extant for at least the next two years but if MOO engagement does not improve, then a major shift in strategy will be required. FINANCIAL REVIEW Donations and sponsorship of £160,249 12023 £178.9201 were received in the year. Net assets at the balance sheet date amounted to £1,752,59512023- £1,830,872). The Trustees are satisfied with the financial position of the Charity at 31 March 2024 arld consider the charity a going concern. The Trustees have ensured the Charity has fulfilled its legal obligation to PAYE employees by providing for an opted-out Pension. The pension scheme through NEST has now been disbanded. One employee had chosen to opt out of the NEST plan prior to it being disbanded. RESERVES The Charity holds reserves that equate to approximately two years. operating costs (including output costs) from which interest IS earned and placed in the CharlS general funds. Financially the Charity is stable but for wt to develop further it would be pru(lent to have greater cash resources to underwrite any potential drop in income and to cope with a possible increase and widening of the demand for activities and new projects. At the balance Sheet date the Charity had free resetves of £293.21312023- £384,2321- PLANS FOR FUTURE PERIODS During the 25th year of operation the intention of the Charity will seek to increase Its output levels. albeit within the constraints of available funds. It will continue to plug the gap created by the termination of the Live Entertainment Worldwide Contract. The Charity expects in the next two years to draw down on its reserves to compensate forthis. The Charity will continue to engage with the services to develop a sustainable model by which to Pfovide its output. Support to Operational personnel will be the charitls main effort, in furtherance of its objerts, for the next year. The uncertainty over welfare direction is a challenge for the charity and is frustrating long-term planning. Whatever the resolution may be, there is unquestionably an issue that means personnel are missing out on a significant amount of important welfare provision, especially in the areas that seek to mitigate against isolation on Operations. This is an area the Trustees are determined to identify to the MOD and work with them in providing a sat15factory solution.
BRITISH FORCES FOUNDATION (COMPANY LIMITED BY GUARANTEEI TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 PLANS FOR FUTURE PERIODS continued The Charity is aware of the significant beneficial impact it has on 'Unit cohesion" and will remain mindful to maintain that and increase the impact where possible. The campaign to establish a greater understanding of the Charitws status in the eyes of the MOD and Services is in progress and has been partially successful but must continue in perpetuity due to the high turnover of personnel with the Ministry. This point has become more evident in recent years. The Charity fee15 Strongly that it could play a significant role using its celebrity contacts to more effectively 'message' welfare issues to service personnel. It now believes it has been successful in moving entertainment to a 'need' footing. BFF project5 remain the highest profile and effective provision of entertainment to the Armed Forces. The Charity will always be open to discussion and keen to participate fully in Joint Ventures with other charities. It will also continue to seek out possible merger opportunities. VOD IBFFfvi project development will continue. Its potential expands all the time but the charity cannot help being disappointed at the lack of understanding and engagement with the MOD. The Charity believes it has a strong and positive role to play with positive 'messaging' to the serving community and is looking at how this can be effectively achieved. The Charity will expand the concept of grant giving for morale projects to further help with the demand created by the contract demise but also as an expansion of its charitable artivity for serving personnel. The impact of the Charitys benefit to Service men and women, families and others is measured by an approved qualitative monitoring process. The effect on morale and esprit de corps is beneficial at both group and individual level. Testimonies from serving personnel. family members and commanding officers show that the ChariVs activities have a positive impact on those serving or injured. The Charity commissioned an independent report on 'morale' published in 2012 by the Institute of Psychiatry at King's College London University, which looked in detail at the impatt and effett of its projects. The conclusion was that the Charity makes a significant impact to morale and the feeling of support from the Eeneral public and that the creation of such conditions has a significant effect along with other conditions in reducing the incidents of stress and mental disorders later on. Recent experience in the reporting period has further endorsed this view. The Charity intends to commission further research for publication in 2025. In these difficult financial times, government welfare budgets are being cut and therefore the role of charities particularly those that as515t 'serving' military personnel will become more important and Significant. The Charity 15 in a strong position to expand into area5 of welfare that may no longer be publicly funded and to work in partnership with MOD to this end. This will be particular area of focus in 2024/25. The Trustees plan to build up funds to a level that will guarantee the Chartvs long-term future and provide a greater measure of confidence in its ability to deliver quality output to the Services. Trustees would like to emphasise that the significance of VOD should not be underestimated. 2025 will also See a comprehensive and forensic review of all the charwties activities and produce a revision of the 2017 Strategy. In November 2024 the charity will celebrate its 25, anniversary being both proud and confident in what it has achieved over the last 25 years.
BRITISH FORCES FOUNDATION {COMPANY LIMITED BY GUARANTEE} TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 STATEMENT OF TRUSTEES RESPONSIBILITIES The Trustees are responsible for preparing the Trustees, Annual Report and the financial statement5 in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the Charity and of the surplus or deficit for that period. In preparing these account5. the Trustee5 are required to: al Select suitable accounting policies and then apply them consistently. bl Observe the methods and principles of the Charities SORP 2015 IFRS 102}. Make judgements and accounting estimates that are reasonable and prudent. dl State whether applicable accounting standards have been followed. subjert to any material departure5 disc105ed and explained in the financial statements. Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The Trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and the group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities. EXEMPTION The Trustees. report has been prepared taking advantage of the exemptions available to small companies under the Companies Act 2006. Approved by the Trustees on and signed on their behalf by AVM M Wiles- Chairman Trustee
INDEPENDEPU EXAMINER'S REPORT TO THE TRUSTEES OF BRITISH FORCES FOUNDATION I report to the charity trustees on my examination of the accounts of British Forces Foundation for the year ended 31 March 2024, which comprise the Statement of Financial Activities, the Balance Sheet. the Statement of Cash Flows and notes to the financial statements, including a summary of significant accourbting policies. Responsibilities and basis of report As the charity trustees of the company land also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'the 2006 Act'l. Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your compan¢s accounts as carried out under section 145 of the Charities Act 20111'the 2011 ACVI. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examiner's 5taternent Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in Section 145 of the Act. I confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountant5 in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. Accounting records were not kept in respect of the company as required by section 386 of the 2006 Act- or The accounts do not accord with those records- or The accounts do not comply wwth the accounting requirements of section 396 of the 2006 Att other than any requirement that the accounts give a 'true and fair viesrf which is not a matter considered as part of an independent examination; or The accounts have not been prepared in accordar)ce with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other matters in connettion with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Nicholas Jones FCCA Fawcetts LLP Chartered Accountants Windover House St. Ann Street Salisbury SPI 2DR Date
BRITISH FORCES FOUNDATION STATEMENT OF FINANCIAL AcnviTIES (INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2024 2024 Total 2023 Total Unrestricted Restricted Note INCOME AND ENDOWMENTS FROM- Donations and sponsorship5 124.051 36.198 160.249 178,920 Income from charitsble activities Fundraising Investment and other income 31.719 84.374 31.719 84.374 149.931 73.047 TOTAL INCOME AND ENDOWMENTS 240.144 36.198 276.342 401,898 EXPENDITURE ON: Charitsble activities Direct costs 176.428 150.920 327.348 295.826 Raising funds Fundraising costs 73.085 73.085 169.685 Total expenditure 249.513 150.920 4CX),433 465.511 NET IEXPENDITURE)IINCOME 19.3691 1114,722} 1124,0911 163.6131 Gain/llossl on investments- unrealised Gainlllossl on investments- realised io io 40,255 40,255 1150,4111 8,383 Net movement in funds 30.886 1114,722} 183.8361 1222.4071 Fund balances brought foNiard 14 1,716,150 114,722 1,830,872 2,053,279 Fund balances as at 31 March 2024 14 1,747,036 1,747,036 1,830,872 Details of comparatives by fund are disclosed in Note 20. All of the above results are derived from continuing activities. There were no recognised gains or losses other than those stated above. 10
BRITISH FORCES FOUNDATION {Coiiipaiiy nuniber 3745373) BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Fixed issets Tangible fixed assets Ii)vestineiils li io 2,238 1,448,586 2,332 1,349,5.31 1,450.824 1,351,863 Cuireiit assets stock Debtors Cash at bank and in haiid 28,932 36.293 257,746 29,216 17,742 467,996 12 322,971 514,954 Credltors: amoui)ts due ivitliin one year 13 26.758 35,945 Net cu¥reiit assets 296,213 479,009 Net assets 1,747,037 1,830,872 Fiinds Unrestricted fÉJnds'. Restritted funds 14 14 1,747,036 1,716,150 114,722 Total funds 15 1,747,036 1,830,872 For the year eliding 31 March 2024 the company ivas entitled to exemption from audit undor soction 477 of the Con)panies Act 2006 relating to sniall companies. Oirectors, responsibilities: i The members have not required the con)pany to obtain an audit ol its accounts for the year in question in accordance ivitl) section 476- 2 The directors acknoivledge thÈir responsibilities for complying ivith tl)e requireineiits of the Act witli respect to accounting record5 and the preparation of accounts. Approved and auihorised for issue by the tru5teÈs on. and signed on their behèlf by Air Vice Marsh31 M Wiles CB CBE - Chairman Trustee
BRITISH FORCES FOUNDATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 Note 2024 2023 Cash provided used in operating attivities: 16 1208,4911 124.254 Cash flows from investing activities: Purchase of fixed assets Disposal of investments Purchase of investments Cash provided used in investment artivities: 11,759} 170,572 240,000 169,4281 11,759} Cash flows from financing activities: Loan repayments Increasel (Decrease) in cash and cash equivalents in the year 1210,2501 1193,6821 Cash and cash equivalents at the beginning of the year 467.996 661,678 Cash and cash equivalents at the end of the year 257,746 467,996 12
BRITISH FORCES FOUNDATION NOTES TO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES al British Forces Foundation is a company IrmTted by guarantee incOrTated and registered in England and Wale5. The charity constitutes a Public Benefit Entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities= Statetnent of Recomrnended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 leffertive l January 20151- ICharttie5 SORP 2015 IFRS 10211, the Charities Act 2011 and the Comp3nies Act 21Th. The fin3ncial statements are prepared on a going concern basis under the historical cost convention. The financial statements are prepared in Sterling 1£) which 15 the fvnctional currency of the charitable cornpany. bl Don2tions, grants and legacies arÈ rÈto8nised in full in tho statement of finantial 2rtivities in tho yÈar in which thÈy aro receivatr)le. When donor5 specrfy that donations and grants are for particular restricted purposes which do not amount to pre-conditions rÈEarding ÈntitlÈmÈnt, this intomÈ is intluded in intoming resourcos of restrirted funds when receivaPJle. Donated item5. assets or servi5 are included at the market value at the time of receipt and are unrestrittÈd unless disclosed otherwise. cl All investrnent income. including deposit interest. is shown on the basi5 of amounts received and receivable. dl All resources expended are accounted for on an accruals basis. Cost5 are classified under headings that aggregate all similar costs and which can then be related to tosts of gÉnÈratin8 funds. tharitable attivities and govÈrnancÉ costs. Where costs cannot be directly attributed to those expenditure categories they are attributed to management and administration, which in turn is rÈ-allotatÈd to ndraiSIng tosts. tharitable activttios and governance costs. GovÈrnance costs are those associated with constttutional and statutory requirements. el Quoted investments are includÈd in thÈ cOUnts at market value Js at 31 March 2024. Tho unquotod invÈstmonts are included in the accounts at cost plus attributable accrued interest. Gains/losse5 arising on disposal are recogni5ed in the income and expenditure account and creditedlcharged to the accumulated fund. gl Stocks are valuÈd at the lowÈr of tost and nÈt rÈalisablÈ valuÈ. ItÈms donatÈd for resalÈ are not included in thÈ financial statements until they are sold. h) Depreciation is provided at rates calculated to write down the cost or valuation. less estimated residual value. of each asset over its expected useful life_ The depreciation rates in use are a5 follows.. Sound and lighting equipment Property improvements Fixtures and fittings Office equipment Computer equipment 2LPA straight line basis 20% 5trai8ht line basis 25% straight line basis 25% straight linÈ basis 33% straight line basis il Renta15 payable under operating lease5 are charged to the Statement of Financial Aclivitie5 as incurred over the terrn of the lease. Il Unrestrirted funds are donations and other incoming resourced receivable or generated for the objects of the charity wtthout fvrther Specified purpose and are available as general fvnds. kl Designated fvnds are unrestricted funds set aside by the Trustees for particular purp05e5. 11 Restricted funds are those wheTe the donor ha5 specifically re5trirted the purpose for which they can be used. The ba13nce in the fund represents the amount still remaining for future expenditure. ml Debtors are me3sured at their recoverable amounts. n) Creditors and provisions are recognised where the company has a present obltgation resulting from a past event that will probably result in the transfer of fund5 to a third party and the arnount due to settle the obligation can be me3sured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any tTrde discounts due. 13
BRITISH FORCES FOUNDATION NOTES TO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES ICONTINUEDI ol The company makes contributions into one employee's personal pension scheme. The contributions to the scherne are chareÈd to the profit and loss actount as they attruo. pl TTrnsactions denominated in foreign currencie5 are translated into 5terliDg at the rate of exchange ruling at the date of the transaction. Assets and liabilities denominated in foreign currencies are translated into sterling at the exchange rates ruling at the balance sheet date_ All exchange drfFereTrces are taken to the profit and1055 account. INCOMEAND ENDOWMENTS Income and ÈndowmÈnts are derived Whol from within the United Kingdom. STAFF COSTS Staff costs were as follows= 2024 2023 Salaries and wage5 Social 5ecurrty costs Other pension costs 103,805 8.070 24.520 103,806 8,760 25,283 136.395 137,849 The key management pÈrsonnel of the charity comprise the trustees and the ChiÈf Exetutivo Otriter. ThÈ total remuneration of the key rnanagernent personrnel was £103.80512023- £103.8061. The key managernent personnel also recÈivÈd pÈnsion contributions totalling E24.52012023- £25.2831. The average number of employees analysed by function was.. 2024 2023 GÈnorating funds Furtherance of the charity's objects Trustees are not remunerated. During the year three trustees received reimbursed expenses of £2.13712023.. £6031 TAXATION The Foundation is Èxempt from corporation tax as all its intomÈ is charttablo and is applied for charitablÈ purposes. INVESTMENT AND OTHER INCOME Unrestricted Restricted 2024 2023 Bank intÈrost Eross Rents receivable Investment income 10,219 15,355 58.8CM) 10,219 15,355 58.8C 1,947 15,5(K) 55,6 84.374 84,374 14
BRITISH FORCES FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 DIREcf COSTS Unrestricted Restricted 2024 2023 Charitable output expenses Share of support costs (note 81 73.754 102.674 47.844 103,076 121.598 205.750 96,916 198.910 176,428 150,920 327,348 295,826 FUNDRAISING COSTS Unrestricted Restricted 2024 2023 Fundraising costs Share of support costs (note 81 21,648 51.437 21,648 51.437 103,382 66.303 73,085 73,085 169,685 SUPPORT COSTS 2024 2023 Bank charges and interest Consultancy fees Accountancy Bookkeeping Depreciation General expenses Insurance Printing, postage and stationery Rent and rate5 Repairs and equipment hire Salaries and NIC Subscriptions and donations Telephone and electricity Travel and entertaining Computer expenses Marketing 131 63.432 4,200 780 1,853 2.248 2.035 253 80 60,687 3.960 848 1,928 2,537 1.942 874 15,267 2,071 137.849 3,769 8,337 21.544 3.243 277 265,213 15,555 1.908 136.395 3,797 7,451 15.183 1.918 48 257.187 2024 2023 Allocated to.. Costs of Charitable Activities (output costs) Inote 6180% Fundraising cost5 (input C05tsl (note 7120% 205,750 51,437 257,187 198,910 66,303 265,213 15
BRITISH FORCE5 FOUNDATION NOTES TO THE FINANCIAL STATEMEK FOR THE YEAR ENDED 31 MARCH 2024 EXPENDITURE Support Costs Other Total Total Costs 2024 2023 Expenditure on dirert CQSts Output expenses 205.750 121.598 327.348 295,826 Expenditure on raising fvnds Fundraising c05t5 51.437 21.648 73.085 169,685 Total expendlture 257.187 143.246 4(X),433 465.511 10. INVESTMENT5 Quoted Unquoted Total Market value l April 2023 Additions Disposals Reinvestments ILossl/Gain in the year 1,337,595 11,936 1,349,531 58,81KI 39,954 58,800 40,255 301 Market value 31 March 2024 1.436,349 12.237 1.448,586 Historical c05t 31 March 2024 640,071 647,071 16
BRITISH FORCE5 FOUNDATION NOTES TO THE FINANCIAL STATEMEK FOR THE YEAR ENDED 31 MARCH 2024 11. TANGIBLE FIXED ASSETS Sound & lighting equipment Property improv- ements Fixtures & fittings Office equipment Computer equipment Total Cost At l April 2023 Additions Disposals At 31 March 2024 21.367 1.759 5.354 14.732 10,514 15,131 67,098 1.759 23,126 5,354 14,732 10,514 15,131 68,857 Depreclatlon At l April 2023 Charge for the year Eliminated on di5pos315 At 31 March 2024 19,758 1,397 5,354 14,561 171 10,224 102 14,869 183 64,766 1,853 21.155 5.354 14.732 10.326 15.052 66,619 Net book value At 31 March 2024 1,971 188 79 2,238 At 31 March 2023 1.609 171 262 2,332 12. DEBTORS 2024 2023 Trade debtors Prepayments and accrued income 1,746 34,547 88 17,654 36,293 17,742 13. CREDITOR5: AMOU5 OUE WITHIN ONE YEAR 2024 2023 Trade creditors Social security and other taxes Accruals and deferred income Other creditors 12.526 3,854 8,788 1.590 13.144 3,734 17,291 1.776 26,758 35,945 17
BRITISH FORCE5 FOUNDATION NOTES TO THE FINANCIAL STATEMEK FOR THE YEAR ENDED 31 MARCH 2024 14. ANALYSIS OF FUNDS Balance at 1.4.23 Incoming resources Resources expended Balance at 31.3.24 Unrestrirted fund5 General fund Designated tangible asset fund 1.713.150 240.144 1209.2581 1,744.036 3.OCrf) Total unrestricted funds 1.716.150 240.144 1209,2581 1,747.036 Restrirted funds Panto Bu5 Libor Grant Hercules HMS Sultan Polo 150 17,688 117,6881 1114.7221 11.3491 115,1601 12,0001 114.722 1.349 15,160 2,000 Total restricted fund5 114,722 36,197 1150,9191 Total funds 1.830.872 £276.341 360,177 1747 036 Panto Bus The don3tions were gNen towards the cost of the Panto Bu5 entertaining Force5 farnilie5 in the UK. The grant was given to support costs towards performing shows for military personnel. The donations were given towards the cost of the final goodbye party fo¥ the hercules aircraft To provide entertainment to HMS Sultsn To support specific fundraising events. Libor Grant Hercules HMS Sultan Polo 150 15. ALLOCATION OF NET ASSErs Unrestricted Designated fund Restricted fund General fund Total Tangible assets Investments Net current Iliabilitie5llasset5 2,238 1,448,585 293.213 2,238 1.448,585 296,213 3.000 1.744.036 3.0( 1 747 036 16. RECONCILIATION OF INCOMEI{EXPENDITUREI TO NET CASH FROM OPERATING AcfiviTIES 2024 2023 Net lexpenditurel for the year as per SOFA Adjustments for= Depreciation of tangible fixed a55et5 Ilncreasel in debtors IDecreasel/lncrease in creditors Non cash investment income Decrease in Stock 1124,0911 163,6131 1.853 118.5511 19,1871 158,8001 285 1,928 19.2311 155,6001 258 Net cash flow from operating activities 208,491 124,254 18
BRITISH FORCE5 FOUNDATION NOTES TO THE FINANCIAL STATEMEK FOR THE YEAR ENDED 31 MARCH 2024 17. RELATED PARTY TRANSAcfioNS The Charity paid £14,23412023 - £14,113) rent and service charges and £6,7(2023 - £7,200) other business supplies to CU2 Limited. CU2 Limited is a company in which M J A Cann is a dirertor and Mrs E Cann, wife of M J A Cann, is a director and sole shareholder. At the year end there was an amount outstanding of £1,16712023- £1,250). 18. MEMBERS GUARATrEE The company is incorporated under the Companies Act 1985 and not having a Sha capital. is limited by guarantee. The guarantee of each member is limited to 3 maximum of £10 and is for a maximum period of 12 months after ceasing to be a member. The position at the year end concerninÉ members giving a guarantee was as follows: 2024 2023 Number of members giving a guarantee at the year end io li 19. COMMITMENTS The company has an operating lease commitment in Spect of its office building of £1.168 per month12023- £1,168). the lease is on a rolling basis and the lease may be terminated by eitherthe company orthe landlord giving the months. notice. 19
BRITISH FORCES FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 20. PRIOR YEAR COMPARATIVE STATEMENT OF FINANCIAL AcfiviTIES 2023 Total Unrestricted Restricted Note INCOME AND ENDOWMENTS FROM: Donations and sponsorships 118,918 60,002 178,920 Income from charitable activities Fundraising Investment and other income 109,931 73,047 149,931 73,047 TOTAL INCOME AND ENDOWMENTS 301,896 100,002 401,898 EXPENDITURE Expenditure on charitsble artivities Direct cost5 54,986 240,840 295,826 Expenditure on raising funds Fundraising costs 129,685 169,685 Total expenditure 184.671 280.840 465,511 NET EXPENDITURE 117,225 1180,8381 163,6131 Gainlllossl on investments io 1158.7941 1158.7941 Net movement in funds 141,5691 1180,8381 1222,4071 Fund balances brought forward 14 1.757.719 295.560 2.053,279 Fund balance as at 31 March 2023 14 1.716.150 114.722 1.830.872 20