**THE MILITARY PROVOST STAFF ASSOCIATION BENEVOLENT FUND TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2023**
1. 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.
2. The Charity is known as the Military Provost Staff Corps Association (MPSCA).
## **OBJECTIVES AND ACTIVITIES**
3. 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.
4. 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**
5. 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.
6. 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.
7. 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**
8. 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**
9. At the end of the year, the charity held unrestricted reserves of: to follow
## **RESERVES POLICY**
10. 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**
11. 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**
12. New Trustees are appointed by members of the committee of Trustees.
## **INDUCTION AND TRAINING OF NEW TRUSTEES**
13. 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**
14. Registered Charity Number: **1078437**
## **PRINCIPAL ADDRESS**
15. RHQ MPS Association Berechurch Hall Camp Berechurch Hall Road COLCHESTER Essex CO2 9NU
## **TRUSTEES**
16. 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**
17. 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**
18. 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:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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**
|**Five year summary:**
31.3.23
31.3.22
£
£
Acquisition
-
-
Impairment
258
298
**13.**
**FIXED ASSET INVESTMENTS**
**MARKET VALUE**
At 1 April 2022
Disposals
Revaluations
At 31 March 2023
**NET BOOK VALUE**
At 31 March 2023
At 31 March 2022
There were no investment assets outside the UK.
Cost or valuation at 31 March 2023 is represented by:
Valuation in 2023
**14.**
**STOCKS**
Stocks|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 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
for the Year Ended 31 March 2023
## Report of the Trustees
## **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:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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**
|**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**
|**Five year summary:**
31.3.23
31.3.22
£
£
Acquisition
-
-
Impairment
258
298
**13.**
**FIXED ASSET INVESTMENTS**
**MARKET VALUE**
At 1 April 2022
Disposals
Revaluations
At 31 March 2023
**NET BOOK VALUE**
At 31 March 2023
At 31 March 2022
There were no investment assets outside the UK.
Cost or valuation at 31 March 2023 is represented by:
Valuation in 2023
**14.**
**STOCKS**
Stocks|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
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