2023-03-31-accounts - The Military Provost Staff Corps Benevolent Fund

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

THE MILITARY PROVOST STAFF ASSOCIATION BENEVOLENT FUND TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2023

The Trustees present their report with the financial statements of the charity for the year ended 31 March 2023. The Trustees have adopted the provisions of the Accounting and reporting to Charities: Statement of Recommended practise applicable to charities in the UK and the Republic of Ireland (FRS 102) effective 1 January 2015.
The Charity is known as the Military Provost Staff Corps Association (MPSCA).

OBJECTIVES AND ACTIVITIES

To promote the efficiency of her Majesty’s Armed Forces by benefiting all those who have served from time to time in the AGC Military Provost Staff (MPS) and their dependants.
To relieve in cases of need, hardship and distress, former members of the former Military Provost Staff Corps and of the AGC Military Provost Staff and their dependants (beneficiaries).

SIGNIFICANT ACTIVITIES

The charity supports members of the MPSCA who are serving in the Military Provost Staff Regiment and ex serving members of the MPSC and MPS with grants for welfare and sports/adventure training activities.
The charity also recognises the contribution of past members through various commemoration activities. The charity also maintains contact with the widows and widowers of late MPSCA members.
The MPSCA also promotes esprit de corps by organising an annual commemorative weekend and also produces an annual Regimental Journal, it also maintains communications with all members via an Association webpage.

PUBLIC BENEFIT

The Trustees have complied with their duty under section 4 of the Charities Act 2006 to have due regard to guidance published by the Charity Commission on public benefit.

FINANCIAL REVIEW

At the end of the year, the charity held unrestricted reserves of: to follow

RESERVES POLICY

The charity holds sufficient reserves in its bank account to meet day-to-day running expenses. The remainder is invested to provide for future need. Investments are chosen to maximise returns and minimise risk to its capitol value.

STRUCTURE GOVERNANCE AND MANAGEMENT

GOVERNING DOCUMENT

The Charity is controlled by its governing document, a deed of trust dated 8 October 1999 and constitutes an unincorporated charity.

RECRUITMENT AND APPOINTMENT OF NEW TRUSTEES

New Trustees are appointed by members of the committee of Trustees.

INDUCTION AND TRAINING OF NEW TRUSTEES

New Trustees are provided with a copy of the Charity’s governing document and Charity Commissions guidance for new Trustees. If need further help is available from existing Trustees and the related Adjutants General’s Corps (AGC) Association.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity Number: 1078437

PRINCIPAL ADDRESS

RHQ MPS Association Berechurch Hall Camp Berechurch Hall Road COLCHESTER Essex CO2 9NU

TRUSTEES

The MPS Association Trustees are:

PRESIDENT

Brigadier S Pringle-Smith - appointed 8 August 2023 Brigadier V Buck - resigned 7 August 2023

TRUSTEES

Maj R D Moffatt Maj R Smith Lt Col (Retd) P Andrews OBE Maj R D Moffatt Maj R J Smith Capt T J Crickmore WO1 (RSM) D Batterham Mr L Pearse SSgt E Mannion-Williams Maj (Retd) R G Corcoran MBE

INDEPENDANT EXAMINERS

The Charity’s independent examiners are:

Mark Passmore MA FCA Passmore Weeks and Richardson Charted Accountants 2 Beacon End Courtyard London Road Stanway COLCHESTER Essex CO3 0NU

APPROVAL

Approved by order of the board of Trustees on……………………………and signed on behalf by:

………………………………………………………..

Maj R D Moffatt - Trustee

REGISTERED CHARITY NUMBER: 1078437

Report of the Trustees and

Financial Statements for the Year Ended 31 March 2023

for

The Military Provost Staff Corps Benevolent Fund

Passmore Weeks and Richardson A Xeinadin Company 2 Beacon End Courtyard London Road, Stanway Colchester Essex CO3 0NU

The Military Provost Staff Corps Benevolent Fund

Contents of the Financial Statements for the Year Ended 31 March 2023

		Page
Report of the Trustees	1	to	2
Independent Examiner's Report		3
Statement of Financial Activities		4
Balance Sheet		5
Notes to the Financial Statements	6	to	12

The Military Provost Staff Corps Benevolent Fund

Report of the Trustees for the Year Ended 31 March 2023

The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019).

The charity is also known as the Military Provost Staff Corps Association (MPSCA).

OBJECTIVES AND ACTIVITIES Objectives and aims

The objectives of the charity are:

1) to promote the efficiency of Her Majesty's Armed Forces by benefitting all those who have served from time to time in the AGC Military Provost Staff (MPS) and their dependants.

2) to relieve in cases of need, hardship or distress former members of the former Military Provost Staff Corps and of the AGC (MPS) and their dependants (beneficiaries).

Significant activities

The charity supports members of the MPSCA who are serving in the MPS Regiment and ex-serving members of the MPSC and AGC (MPS) with grants for welfare and sports/adventure training activities.

The charity recognises the contribution of past members through various commemoration activities. The charity also maintains contact with widows and widowers of late MPSCA members.

MPSCA promotes esprit de corps by organising an annual commemorative weekend and also produces an annual Regimental Journal, and maintains communications with all members via an Association webpage.

Public benefit

The trustees have complied with their duty under section 4 of the Charities Act 2006 to have due regard to guidance published by the Charity Commission on public benefit.

FINANCIAL REVIEW

Financial position

At the end of the year, the charity held general unrestricted reserves of £316,757 (2022: £341,322).

Reserves policy

The charity holds sufficient funds in its bank accounts to meet day-to-day running expenses. The remainder is invested to provide for future need. Investments are chosen to maximise returns and minimise risk to capital value.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust dated 8 October 1999 and constitutes an unincorporated charity.

Recruitment and appointment of new trustees

New trustees are appointed by the members of the committee of trustees.

Induction and training of new trustees

New trustees are provided with a copy of the charity's governing document and the Charity Commission guidance for new trustees. If needed, further help is available from existing trustees and the related AGC Association.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number

1078437

Page 1

The Military Provost Staff Corps Benevolent Fund

Report of the Trustees for the Year Ended 31 March 2023

Principal address

Berechurch Hall Camp Berechurch Hall Road Colchester Essex CO2 9NU

Trustees

Lt Col R J Robinson (Ret'd) (resigned 5.5.22) Lt Col P Andrews (Ret'd) OBE Brigadier V Buck (resigned 7.8.23) E L Mannion-Williams Major J Wharton (resigned 5.5.22) E Redgate (resigned 31.1.23) T J Crickmore (appointed 5.5.22) R J Smith (appointed 5.5.22) R D Moffatt (appointed 24.8.22) R G Corcoran L W Pearse (appointed 14.10.22) D Batterham (appointed 31.1.23)

President

Brigadier V Buck

Vice- President

Lt Col R J Robinson (Ret'd) (resigned 5/5/22)

Independent Examiner

Mark Passmore MA FCA Passmore Weeks and Richardson A Xeinadin Company 2 Beacon End Courtyard London Road, Stanway Colchester Essex CO3 0NU

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................ R D Moffatt - Trustee

Page 2

Independent Examiner's Report to the Trustees of The Military Provost Staff Corps Benevolent Fund

Independent examiner's report to the trustees of The Military Provost Staff Corps Benevolent Fund

I report to the charity trustees on my examination of the accounts of The Military Provost Staff Corps Benevolent Fund (the Trust) for the year ended 31 March 2023.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material 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 Trust as required by Section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection 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.

Mark Passmore MA FCA

Passmore Weeks and Richardson A Xeinadin Company 2 Beacon End Courtyard London Road, Stanway Colchester Essex CO3 0NU

Date: .............................................

Page 3

The Military Provost Staff Corps Benevolent Fund

Statement of Financial Activities for the Year Ended 31 March 2023

31.3.23
Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
15,691
Other trading activities
3
74
Investment income
4
8,089
Total
23,854
EXPENDITURE ON
Raising funds
5
2,778
Charitable activities
6
Commemoration
8,721
Welfare
4,440
Sport and Adventure Training
2,429
Support costs
9,746
Total
28,114
Net gains/(losses) on investments
(20,305)
NET INCOME/(EXPENDITURE)
(24,565)
RECONCILIATION OF FUNDS
Total funds brought forward
341,322
TOTAL FUNDS CARRIED FORWARD
316,757

31.3.22
Total
funds
£
14,538
422
7,828
22,788
3,529
9,751
2,633
1,998
8,369
26,280
14,165
10,673
330,649
341,322

The notes form part of these financial statements

Page 4

The Military Provost Staff Corps Benevolent Fund

Balance Sheet 31 March 2023

31.3.23
Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
11
5,142
Heritage assets
12
12,752
Investments
13
271,601
289,495
CURRENT ASSETS
Stocks
14
8,332
Debtors
15
-
Cash at bank
22,680
31,012
CREDITORS
Amounts falling due within one year
16
(3,750)
NET CURRENT ASSETS
27,262
TOTAL ASSETS LESS CURRENT
LIABILITIES
316,757
NET ASSETS
316,757
FUNDS
17
Unrestricted funds
316,757
TOTAL FUNDS
316,757

31.3.22
Total
funds
£
4,637
13,010
304,002
321,649
11,110
800
11,184
23,094
(3,421)
19,673
341,322
341,322
341,322
341,322

The financial statements were approved for issue by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. R D Moffatt - Trustee

The notes form part of these financial statements

Page 5

The Military Provost Staff Corps Benevolent Fund

Notes to the Financial Statements for the Year Ended 31 March 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Going Concern

The trustees have reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment - at variable rates on reducing balance

Heritage assets

Heritage assets are measured initially at cost. Wasting assets, such as photos, are depreciated at appropriate rates.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Investments

Unrealised gains and losses on investments are recognised in the Statement of Financial Activities.

continued...

Page 6

The Military Provost Staff Corps Benevolent Fund

Notes to the Financial Statements-continued
for the Year Ended 31 March 2023
2.
DONATIONS AND LEGACIES
Donations
Subscriptions
Days pay contributions
3.
OTHER TRADING ACTIVITIES
Shop income
4.
INVESTMENT INCOME
Investment income
Deposit account interest
5.
RAISING FUNDS
Other trading activities
Opening stock
Purchases
Closing stock
6.
CHARITABLE ACTIVITIES COSTS
Commemoration
Welfare
Sport and Adventure Training
Support costs

31.3.23
31.3.22
£
£
717
347
1,043
1,140
13,931
13,051
15,691
14,538
31.3.23
31.3.22
£
£
74
422
31.3.23
31.3.22
£
£
8,087
7,828
2
-
8,089
7,828
31.3.23
31.3.22
£
£
11,110
13,987
-
652
(8,332)
(11,110)
2,778
3,529
Grant
funding of
activities
Support
Direct
(see note
costs (see
Costs
7)
note 8)
Totals
£
£
£
£
8,721
-
-
8,721
505
3,935
-
4,440
-
2,429
-
2,429
-
-
9,746
9,746
9,226
6,364
9,746
25,336

continued...

Page 7

The Military Provost Staff Corps Benevolent Fund

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

7.	GRANTS PAYABLE
			31.3.23	31.3.22
			£	£
	Welfare		3,935	2,149
	Sport and Adventure Training		2,429	1,998
			6,364	4,147
	The total grants paid to individuals during the year was as follows:
	Sports & adventure		31.3.23 £ 2,428	31.3.22 £ 1,998
	Welfare		3,936	2,149
			6,364	4,147
8.	SUPPORT COSTS
	Support costs	Management £ 5,846	Governance costs £ 3,900	Totals £ 9,746
	Governance costs include the following fees paid to the independent examiner:
	Independent examination		31.3.23 £ 950	31.3.22 £ 950
	Accountancy services		2,950	3,130
	Support costs, included in the above, are as follows:
	Insurance		31.3.23 Support costs £ 1,420	31.3.22 Total activities £ 1,415
	Loan write off		800	-
	Postage and stationery		10	103
	Office running		2,428	1,707
	Depreciation of tangible and heritage assets		1,188	1,064
	Accountancy		3,900	4,080
			9,746	8,369

continued...

Page 8

The Military Provost Staff Corps Benevolent Fund

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

All financial activities in the previous year were within the general, unrestricted fund.

11. TANGIBLE FIXED ASSETS

11.	TANGIBLE FIXED ASSETS
		Office
		equipment
		£
	COST
	At 1 April 2022	30,126
	Additions	1,436
	At 31 March 2023	31,562
	DEPRECIATION
	At 1 April 2022	25,489
	Charge for year	931
	At 31 March 2023	26,420
	NET BOOK VALUE
	At 31 March 2023	5,142
	At 31 March 2022	4,637
12.	HERITAGE ASSETS
	MARKET VALUE	Total £
	At 1 April 2022 and 31 March 2023	19,824
	PROVISIONS
	At 1 April 2022	6,814
	Charge for year	258
	At 31 March 2023	7,072
	NET BOOK VALUE
	At 31 March 2023	12,752
	At 31 March 2022	13,010

Heritage assets include various Corps museum exhibits and books. Items are purchased to preserve the history of the Corps. A register of assets is maintained.

continued...

Page 9

The Military Provost Staff Corps Benevolent Fund

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

12. HERITAGE ASSETS - continued

31.3.23	31.3.22	31.3.21	31.3.20	31.3.19
£	£	£	£	£
-	-	-		150
258	298	347	404	472

			Listed investments £ 304,002 (20,590) (11,811) 271,601 271,601 304,002 Listed investments £ 271,601 31.3.23 31.3.22 £ £ 8,332 11,110

continued...

Page 10

The Military Provost Staff Corps Benevolent Fund

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

15.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Loan to members
16.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
17.
MOVEMENT IN FUNDS
At 1.4.22
£
Unrestricted funds
General fund
341,322
TOTAL FUNDS
341,322
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
23,854
(28,114)
TOTAL FUNDS
23,854
(28,114)
Comparatives for movement in funds
At 1.4.21
£
Unrestricted funds
General fund
330,649
TOTAL FUNDS
330,649

31.3.23
31.3.22
£
£
-
800
31.3.23
31.3.22
£
£
3,750
3,421
Net
movement
At
in funds
31.3.23
£
£
(24,565)
316,757
(24,565)
316,757
Gains and
Movement
losses
in funds
£
£
(20,305)
(24,565)
(20,305)
(24,565)
Net
movement
At
in funds
31.3.22
£
£
10,673
341,322
10,673
341,322

continued...

Page 11

The Military Provost Staff Corps Benevolent Fund

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

17. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

	Incoming	Resources	Gains and	Movement
	resources	expended	losses	in funds
	£	£	£	£
Unrestricted funds
General fund	22,788	(26,280)	14,165	10,673
TOTAL FUNDS	22,788	(26,280)	14,165	10,673

18. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2023.

Page 12

REGISTERED CHARITY NUMBER: 1078437

Report of the Trustees and

Financial Statements for the Year Ended 31 March 2023

for

The Military Provost Staff Corps Benevolent Fund

Passmore Weeks and Richardson A Xeinadin Company 2 Beacon End Courtyard London Road, Stanway Colchester Essex CO3 0NU

The Military Provost Staff Corps Benevolent Fund

Contents of the Financial Statements for the Year Ended 31 March 2023

		Page
Report of the Trustees	1	to	2
Independent Examiner's Report		3
Statement of Financial Activities		4
Balance Sheet		5
Notes to the Financial Statements	6	to	12
Detailed Statement of Financial Activities	13	to	14

The Military Provost Staff Corps Benevolent Fund

Report of the Trustees for the Year Ended 31 March 2023

The charity is also known as the Military Provost Staff Corps Association (MPSCA).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objectives of the charity are:

1) to promote the efficiency of Her Majesty's Armed Forces by benefitting all those who have served from time to time in the AGC Military Provost Staff (MPS) and their dependants.

2) to relieve in cases of need, hardship or distress former members of the former Military Provost Staff Corps and of the AGC (MPS) and their dependants (beneficiaries).

Significant activities

The charity supports members of the MPSCA who are serving in the MPS Regiment and ex-serving members of the MPSC and AGC (MPS) with grants for welfare and sports/adventure training activities.

The charity recognises the contribution of past members through various commemoration activities. The charity also maintains contact with widows and widowers of late MPSCA members.

MPSCA promotes esprit de corps by organising an annual commemorative weekend and also produces an annual Regimental Journal, and maintains communications with all members via an Association webpage.

Public benefit

The trustees have complied with their duty under section 4 of the Charities Act 2006 to have due regard to guidance published by the Charity Commission on public benefit.

FINANCIAL REVIEW

Financial position

At the end of the year, the charity held general unrestricted reserves of £316,757 (2022: £341,322).

Reserves policy

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust dated 8 October 1999 and constitutes an unincorporated charity.

Recruitment and appointment of new trustees

New trustees are appointed by the members of the committee of trustees.

Induction and training of new trustees

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number

1078437

Page 1

The Military Provost Staff Corps Benevolent Fund

for the Year Ended 31 March 2023

Report of the Trustees

Principal address

Berechurch Hall Camp Berechurch Hall Road Colchester Essex CO2 9NU

Trustees

President

Brigadier V Buck

Vice- President

Lt Col R J Robinson (Ret'd) (resigned 5/5/22)

Independent Examiner

Mark Passmore MA FCA Passmore Weeks and Richardson A Xeinadin Company 2 Beacon End Courtyard London Road, Stanway Colchester Essex CO3 0NU

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................ R D Moffatt - Trustee

Page 2

Independent Examiner's Report to the Trustees of The Military Provost Staff Corps Benevolent Fund

Independent examiner's report to the trustees of The Military Provost Staff Corps Benevolent Fund

I report to the charity trustees on my examination of the accounts of The Military Provost Staff Corps Benevolent Fund (the Trust) for the year ended 31 March 2023.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

Independent examiner's statement

I have completed my examination. I confirm that no material 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 Trust as required by Section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

Mark Passmore MA FCA

Passmore Weeks and Richardson A Xeinadin Company 2 Beacon End Courtyard London Road, Stanway Colchester Essex CO3 0NU

Date: .............................................

Page 3

The Military Provost Staff Corps Benevolent Fund

Statement of Financial Activities for the Year Ended 31 March 2023

31.3.22
Total
funds
£
14,538
422
7,828
22,788
3,529
9,751
2,633
1,998
8,369
26,280
14,165
10,673
330,649
341,322

The notes form part of these financial statements

Page 4

The Military Provost Staff Corps Benevolent Fund

Balance Sheet 31 March 2023

31.3.22
Total
funds
£
4,637
13,010
304,002
321,649
11,110
800
11,184
23,094
(3,421)
19,673
341,322
341,322
341,322
341,322

The financial statements were approved for issue by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. R D Moffatt - Trustee

The notes form part of these financial statements

Page 5

The Military Provost Staff Corps Benevolent Fund

Notes to the Financial Statements for the Year Ended 31 March 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

Going Concern

Income

Expenditure

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment - at variable rates on reducing balance

Heritage assets

Heritage assets are measured initially at cost. Wasting assets, such as photos, are depreciated at appropriate rates.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Investments

Unrealised gains and losses on investments are recognised in the Statement of Financial Activities.

continued...

Page 6

The Military Provost Staff Corps Benevolent Fund

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

2.
DONATIONS AND LEGACIES
Donations
Subscriptions
Days pay contributions
3.
OTHER TRADING ACTIVITIES
Shop income
4.
INVESTMENT INCOME
Investment income
Deposit account interest
5.
RAISING FUNDS
Other trading activities
Opening stock
Purchases
Closing stock
6.
CHARITABLE ACTIVITIES COSTS
Commemoration
Welfare
Sport and Adventure Training
Support costs

continued...

Page 7

The Military Provost Staff Corps Benevolent Fund

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

7. GRANTS PAYABLE

7.	GRANTS PAYABLE
			31.3.23	31.3.22
			£	£
	Welfare		3,935	2,149
	Sport and Adventure Training		2,429	1,998
			6,364	4,147
	The total grants paid to individuals during the year was as follows:
	Sports & adventure		31.3.23 £ 2,428	31.3.22 £ 1,998
	Welfare		3,936	2,149
			6,364	4,147
8.	SUPPORT COSTS
	Support costs	Management £ 5,846	Governance costs £ 3,900	Totals £ 9,746
	Governance costs include the following fees paid to the independent examiner:
	Independent examination		31.3.23 £ 950	31.3.22 £ 950
	Accountancy services		2,950	3,130
	Support costs, included in the above, are as follows:
	Insurance		31.3.23 Support costs £ 1,420	31.3.22 Total activities £ 1,415
	Loan write off		800	-
	Postage and stationery		10	103
	Office running		2,428	1,707
	Depreciation of tangible and heritage assets		1,188	1,064
	Accountancy		3,900	4,080
			9,746	8,369

continued...

Page 8

The Military Provost Staff Corps Benevolent Fund

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

All financial activities in the previous year were within the general, unrestricted fund.

11. TANGIBLE FIXED ASSETS

		Office
		equipment
		£
	COST
	At 1 April 2022	30,126
	Additions	1,436
	At 31 March 2023	31,562
	DEPRECIATION
	At 1 April 2022	25,489
	Charge for year	931
	At 31 March 2023	26,420
	NET BOOK VALUE
	At 31 March 2023	5,142
	At 31 March 2022	4,637
12.	HERITAGE ASSETS
	MARKET VALUE	Total £
	At 1 April 2022 and 31 March 2023	19,824
	PROVISIONS
	At 1 April 2022	6,814
	Charge for year	258
	At 31 March 2023	7,072
	NET BOOK VALUE
	At 31 March 2023	12,752
	At 31 March 2022	13,010

Heritage assets include various Corps museum exhibits and books. Items are purchased to preserve the history of the Corps. A register of assets is maintained.

continued...

Page 9

The Military Provost Staff Corps Benevolent Fund

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

12. HERITAGE ASSETS - continued

31.3.23	31.3.22	31.3.21	31.3.20	31.3.19
£	£	£	£	£
-	-	-		150
258	298	347	404	472

			Listed investments £ 304,002 (20,590) (11,811) 271,601 271,601 304,002 Listed investments £ 271,601 31.3.23 31.3.22 £ £ 8,332 11,110

continued...

Page 10

The Military Provost Staff Corps Benevolent Fund

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Loan to members
16.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
17.
MOVEMENT IN FUNDS
At 1.4.22
£
Unrestricted funds
General fund
341,322
TOTAL FUNDS
341,322
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
23,854
(28,114)
TOTAL FUNDS
23,854
(28,114)
Comparatives for movement in funds
At 1.4.21
£
Unrestricted funds
General fund
330,649
TOTAL FUNDS
330,649

continued...

Page 11

The Military Provost Staff Corps Benevolent Fund

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

17. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

	Incoming	Resources	Gains and	Movement
	resources	expended	losses	in funds
	£	£	£	£
Unrestricted funds
General fund	22,788	(26,280)	14,165	10,673
TOTAL FUNDS	22,788	(26,280)	14,165	10,673

18. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2023.

Page 12

The Military Provost Staff Corps Benevolent Fund

Detailed Statement of Financial Activities for the Year Ended 31 March 2023

Detailed Statement of Financial Activities for the Year Ended 31 March 2023
	31.3.23	31.3.22
	£	£
INCOME AND ENDOWMENTS
Donations and legacies
Donations	717	347
Subscriptions	1,043	1,140
Days pay contributions	13,931	13,051
Other trading activities	15,691	14,538
Shop income	74	422
Investment income
Investment income	8,087	7,828
Deposit account interest	2	-
	8,089	7,828
Total incoming resources	23,854	22,788
EXPENDITURE
Other trading activities
Opening stock	11,110	13,987
Purchases	-	652
Closing stock	(8,332)	(11,110)
Charitable activities	2,778	3,529
Flowers, funerals and remembrance services	268	541
49 per cent presentations	6,713	9,154
HQ mess	505	484
MPS Collection expenses	1,740	-
The Heritage Centre costs	-	56
Grants to individuals	6,364	4,147
Support costs	15,590	14,382
Management
Insurance	1,420	1,415
Loan write off	800	-
Postage and stationery	10	103
Office running	2,428	1,707
Depreciation	1,188	1,064
	5,846	4,289

This page does not form part of the statutory financial statements

Page 13

The Military Provost Staff Corps Benevolent Fund

Detailed Statement of Financial Activities
for the Year Ended 31 March 2023
	31.3.23	31.3.22
	£	£
Management
Governance costs
Accountancy	3,900	4,080
Total resources expended	28,114	26,280
Net expenditure before gains and losses	(4,260)	(3,492)
Realised recognised gains and losses
Realised gains/(losses) on fixed asset investments	(20,305)	14,165
Net (expenditure)/income	(24,565)	10,673

This page does not form part of the statutory financial statements

Page 14