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2023-12-31-accounts

- BRITISH LIMBLESS EX SERVICEMEN’S ASSOCIATION

ANNUAL TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR YEAR END 31 DECEMBER 2023

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BLESMA - The Limbless Veterans

British Limbless Ex Service Men’s Association

REFERENCE AND ADMINISTRATION

Charity Number 1084189 Company Limited by Guarantee Number 4102768 Registered in Scotland SC010315

Head Office: 115 NEW LONDON ROAD, CHELMSFORD, ESSEX, CM2 0QT

Tel: 020 8590 1124 E-Mail: info@blesma.org Website: www.blesma.org

Patron: HRH The Duke of Gloucester KG GCVO Vice Patron: The Rt Hon the Baroness Willoughby de Eresby DL

The Board of Trustees

National Chairman: Gen Sir Adrian Bradshaw KCB OBE DL Vice Chairman: Mr S White Honorary Treasurer: Mr M Ambler Mr S Croxford (until Mar 2023) Mr B Watts (until Aug 2023) Mr R Gilbert Ms A Grant Mr N Heritage (from Aug 2023) Mr R Kerrigan Mr L Maguire Mr A Mistlin CBE (from Aug 2023) Mr C Rouse MBE Mr C Whitworth (from Aug 2023)

Head Office Blesma :

Chief Executive: Mr J D Bryant OBE (until Oct 2023) Miss V W Buck CBE (from Oct 2023) Operations Director: Mr T R Bloomfield Director Independence and Wellbeing: Mr I G Harper (until April 2023) Interim Director Independence and Wellbeing: Mr B Chenier MBE (from May 2023) Finance and Support Director: Mr B C Mwense

Solicitors:

Forsters LLP, 31 Hill Street, London W1J 5LS

Bankers:

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National Westminster Bank plc, Princes Street, London EC2R 8PA

Auditors:

Crowe U.K. LLP, Chartered Accountants, 2[nd] Floor, 55 Ludgate Hill, London, EC4M 7JW

Investment Managers:

Cazenove Capital Management, 1 London Wall Place, London, EC2Y 5AU

OUR THANKS AND ACKNOWLEDGEMENTS

We are a charity and we seek to use every donation wisely and well. We also gratefully accept all manner of support and collaboration in our various endeavours. This Report cannot possibly thank and acknowledge all who have helped us make a difference in 2023 so, as ever, the list below is but an example:

• All our supporters: those who donate, those who fundraise for the Association, those who provide grants to support our work, those who partner with us to assist our Members, all those who enable our Members to push their boundaries and achieve amazing things, those who give up their time for us, advise us and spread the word.

• All the organisations who provided restricted funding this year including, but not limited to:

The Armed Forces Covenant Fund Trust for supporting aspects of our Activities programme and Outreach work in Scotland.

The Office of Veterans’ Affairs Afghan Veterans’ Fund managed by the Armed Forces Covenant Fund Trust, for supporting specific regional and national Blesma activities to support recent conflict veterans.

The Armed Forces Covenant Fund Trust, Reaching and Supporting Armed Forces Communities Programme, for supporting specific regional and national Blesma activities for female veterans.

The Office of Veterans’ Affairs Health Innovation Fund project in collaboration with Anglia Ruskin University to conduct a research project into Assistive Technology.

The Office of Veterans’ Affairs for awarding the Veterans Mobility Fund to a partnership of Help for Heroes and Blesma.

The National Lottery Community Fund, Awards for All programmes, for supporting specific Outreach activities for Blesma Members and their families in Yorkshire and the North East of England; and Northern Ireland.

The Bernard Sunley Foundation for choosing Blesma as our Charity Champion for the Big Give Christmas Challenge 2022 campaign to help limbless and injured veterans combat hardship and isolation.

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The Forces in Mind Trust for sponsoring the second Caring & Coping study into the family experience of living with loss of use of limb, which will report in 2024.

St Helena Hospice and their make a smile lottery of which Blesma is a partner.

The Drive Project who delivered our Making Generation R programme until its closure mid-2023 and thereafter a new Storytelling programme.

Citizen Foundation Ukraine for working with Blesma to bring injured Ukrainian soldiers into contact with Blesma Members.

To our corporate supporters who have engaged staff, held fundraising events, and sponsored a range of fundraising activities. In particular NRS Healthcare, Corp of Commissionaires Management Ltd, Hills Partnership Ltd, Surewise, Chelmsford City Racecourse and BAE UK staff from sites throughout the UK.

HOW YOU CAN HELP Blesma

We need to raise at least £4.3m in 2024 in order to continue all our vital work.

At present, Blesma looks after over 2,600 Members and Widow beneficiaries and provides support to their families. Our elderly membership continues to increase and all Members face uncertainty over the provision of adequate care. Serving personnel and veterans also continue to suffer accidents and injuries.

Your support means we can ensure that our oldest Members can continue to live a dignified life and that our youngest Members can face the challenge of a lifetime dealing with disability. All those we support know that they can reach out to others in similar circumstances. Limb loss is for life - so Blesma is too.

Our Members have been busy supporting each other throughout this difficult year by volunteering, fundraising, sharing their experiences and looking out for each other. Our welfare services continue to advise and assist our Members from Head Office, through our regional Support and Outreach Officers and our Branch and Volunteer networks. None of this would be possible without your ongoing support and donations.

If you would like to help or make a donation, please contact our Fundraising Team by

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telephone on 020 8548 7089 ; by email on fundraising@blesma.org ; through our website on www.blesma.org or write to us at the address below:

Fundraising Team Blesma – The Limbless Veterans 115 New London Road Chelmsford Essex CM2 0QT

Your contribution towards Blesma will make a real difference to the lives of our disabled servicemen and women who have given so much.

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TRUSTEES’ REPORT 2023

CONTENTS

Subject Page
Strategic
Objectives 8
Activities 11
Achievements and Performance 12
Plans for the Future 21
Financial Review 23
Governance & Administration
Structure, Governance & Management 28
Independent Auditor’s Report 33
Financial Statements 38

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THE Blesma MISSION

To assist limbless veterans to lead independent and fulfilling lives

STRATEGIC REPORT

INTRODUCTION

Blesma is a specialist Service charity, an Association. Its Members are the war wounded, disabled veterans and their dependants. Blesma shall work tirelessly to meet the challenges of injury, to bring comfort, and to help its Members realise their fullest potential.

2023 was anticipated to be a challenging year as it was the first full year of activities, and in person support, following the Covid pandemic. The continued Russian invasion in Ukraine, and the Hamas led attack on Israel in October, that led to Israel launching a large-scale invasion of the Gaza Strip as part of the Israel–Hamas war, has had significant economic consequences that were made worse by the continued economic upheaval at home. The cost-of-living crisis and increases in global energy prices had a major effect on household incomes, although there was a slight recovery towards the end of the year. Market uncertainty also impacted on investment performance. The consequences for Blesma were an increase in the need for charitable support for its Members, a more difficult fundraising environment and a loss on the market value of the Association’s reserves. Whilst the Charity made a conscious decision to maintain existing levels of service by drawing on these reserves in 2023, it will continue to closely scrutinise and prioritise its spending in order to meet its commitment to provide life-long support.

Throughout the year our Blesma Support Officers, Outreach Officers and volunteers maintained close contact with our Members, visiting in person and increasing the number and scope of regional and online outreach events that kept Members in touch with each other. By using the experiences and lessons learned from the Covid era, our teams have reinforced the success of a mix of in person and online activities to reach a wider cross-section of Members. This has also been enabled by development of our digital communications platforms and systems.

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With a full activities programme at home and overseas, Members have participated in skiing trips, golf, sailing, cycling events and fitness and lifestyle courses. Closer to home others took part in family glamping events, widows’ and seniors’ weeks and a wide range of group activities across the UK. Other Members were supported in their own personal challenges, including mountaineering, motorsports, diving, bodybuilding, endurance events and competitive sport .

The Making Generation R programme ended in June 2023 and was replaced by a new Storytelling Wellbeing programme delivered by our partner The Drive Project. The uptake of the new programme has been very successful with new and a wide range of Members signing up. It also brings Blesma Members injured in Afghanistan together with injured Ukrainian soldiers to share their experiences.

During 2023 we welcomed 217 new Members into the Association, providing advice, assistance and the friendship and support of others familiar with the experience of limb loss. Sadly we also learned of the loss of 155 Blesma Members, widows and widowers over the year. Our sympathies go out to their families and friends.

This report summarises Blesma’s objectives, activities, and financial position for 2023. Financial results and considerations have been reflected in the Financial Review and Independent Auditors Report.

The Association remains steadfast in its determination to be there for its Members, through life.

OBJECTIVES FOR 2023

OUR CHARITABLE OBJECTS

Blesma is there:

To promote the welfare and wellbeing of all serving and Ex-Service men and women who have lost a limb or limbs or one or both eyes as a result of Service in any Branch of Her Majesty’s Regular or Auxiliary Forces as may from time to time be defined.

To promote the welfare and wellbeing of all those serving and Ex-Service men and women who suffer loss of a limb, permanent loss of speech, hearing; or the loss of sight in one or both eyes; or the loss of use of a limb.

To assist needy Widows, Widowers and dependants of the above.

LINES OF OPERATION

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Blesma is not just a charity provider that has beneficiaries in the normal sense; it is an Association with the Membership (contributors and beneficiaries) central to all aspects of its existence and purpose. As a matter of principle and as far as practicable, Member is encouraged to help Member to overcome the challenges of serious injury.

The membership’s interests are pursued in four principal ways, termed Lines of Operation, these being: Security , Identity , Connectivity and Resourcing . Within these lines in 2023 we sought to achieve the following:

Security:

Identity:

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Connectivity:

Resourcing :

Looking forward, the priority for the Board was to continue to provide appropriate support to Blesma Members during a difficult economic year.

PUBLIC BENEFIT

The Trustees confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s three-part guidance on public benefit.

Living with limb loss or loss of use of limbs is an everyday challenge, often a painful one. It is a condition that must be managed for the rest of life. For many Blesma Members the effects can be compounded, battlefield blast injury in particular carrying complications far beyond those that might be experienced with other elective and non-elective forms of amputation. The most severely

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injured of recent conflicts benefit from the advance of medical treatments and are grateful to have their lives, but we have little experience of the long-term effects. Other veterans are affected by limb loss in later life. Our Members and their families must learn to cope with all this; Blesma is here to help them take their full and rightful place in society. The Association continues to push the bounds of rehabilitation, prosthetic knowledge and capabilities for veterans and the wider nation alike, encouraging deeper expertise in health services and supporting academic research. Knowing Blesma is there, should they suffer traumatic incident, reassures the Service community. This is Blesma’s contribution to the nation.

ACTIVITIES IN 2023

With its focus on meeting the needs of its Members, Blesma acts as the specialist Service charity dedicated to those serving or ex-Service personnel who have lost limbs or the use of limbs. It will know all its Members individually and will strive to understand and meet their needs to live independent and fulfilling lives. It will be recognised as the authoritative voice in its field. In 2023 its ongoing operations are summarized as:

Connectivity between Members is the foundation of Blesma’s proposition to its Members. It is why Blesma exists. The Association uses a variety of communications to foster close links between its Members and with other agencies. The Association participated on many bodies of influence in 2023. These included:

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In broader context we played a role and consulted widely with:

OUR ACHIEVEMENTS and PERFORMANCE

IN 2023

The fundamental principles that guide Blesma’s operation remain unchanged year on year in that supporting our Members is undertaken on a daily basis, in person wherever possible, as it always has been. The vital support our Members themselves and their families provide each other comes from lived experience and first-hand knowledge, gained over decades. In this respect our perspective is unique. We know about living with limb loss in all stages of adult life. Members tell us their stories in their own homes and we strive to understand and to deliver appropriate and timely support. Our principal beneficiaries are also Members with a vote on how Blesma is run. Their guidance and scrutiny promotes genuine impact and efficiency, ensuring Blesma is responsive and relevant in what it does.

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DELIVERING THE PRIORITIES

In accordance with the Blesma Strategic Plan, the Charity’s Lines of Operation, Priorities and Outputs are mapped out in the Table below. Explanatory notes follow.

Line of Operation and
Priority		 Delivery Outputs and Outcomes
Security:
Confirm the full extent of
Members’ needs; refresh
constantly, ensuring
relevance, determining
partnerships with other
charities to meet need in full.
Understand all Government
and Administrations’ position
and provision for limb loss,
and loss of use, and be
geared to act on judged
gaps.
Deliver the Blesma position
on later life care and the
most vulnerable focusing
upon any lack of, or
distressing, statutory
provision.
Personal access to the
relevant support officer or
outreach officer.
Timely and responsive grant
assistance.
“In-person” specialist
support on limb loss and
loss of use treatment,
compensation and social
care provision to ensure
prescribed standards are
met fully, consistently and
fairly.
Support and representation
with statutory bodies,
specialist providers and
Limb Centres.		 677home visits,30online
meetings,13,463other
contacts and
communications, including
letters, emails, texts, phone
calls and social media
contact.
1,397grants to1,141
recipients.
434 referrals.toother
charities/statutory services.
17 collaborative grants.
10tribunal cases, in addition
to PIP Assessments and
Mandatory
Reconsiderations.
376Veteran’s Prosthetic
Panel grants in 2023,
totalling £2,111,591.
62new individual referrals to
counselling service.
Identity:
Continue to bring Members’
Activity programmes,
including high-end events
such as the Paralympics, to
a position of prominence.
Extend the programmes to
meet the widest possible
range of individual
membership and whole
Association needs,for		 Opportunity to lead, support
and partake in activities of
interest.
Communication to Members
to inspire and motivate
fellow Members.
Access to physical, mental
and social engagement
focused activities, to unfold		 324live and77virtual
activities conducted, with
4,497Members, family
members and carers
participating.19Member-led
events.
35Members supported at
elite level by the Venture
programme (28 in 2022).

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example the_Making_
_Generation R_Programme.		 new horizons, potential,
confidence and self-respect.
Line of Operation and
Priority		 Delivery Outputs and Outcomes
Connectivity:
Grow our inclusive, positive
and crisply responsive
communications network,
exploiting the latest
communication technology
but not to the exclusion of
those unfamiliar with the
digital age.
Grow voluntary support
across the network, at the
hub of communities, and
reaching out, including best
use of Members’ skills and
commitment, especially
reinforcing the impact of the
Activity programmes.
Actively promote the
Association, making sure
that all who are eligible to
join the Association know of
us and our offer.		 A connected Outreach
programme.
Regular magazine, bulletin,
website and social media
news.
Introduction to fellow
Members and civilian user
groups.
Opportunity to volunteer and
support Blesma and its
members.		 34.8 millionpeople saw
Blesma content on social
media in 2023.
Blesma has72,200
followers across social
media.
Blesma was mentioned 654
times in national and local
press articles.
Four issues of the Blesma
magazine were produced.
Grow the number volunteers
and actively engage with
them.
217new Members in 2022
Resourcing:
Establish varied Fundraising
activities to engage with
funders/
donors
across
multiple mediums.
Provide a welcoming and
safe, environment for
Members, staff, volunteers
and supporters.
Operate a fit for purpose
Finance and Support
function for Blesma.		 A well-established, cost
effective, agile, and efficient
fundraising function with the
ability to quickly adapt to
new methods of fundraising
as the situation dictates.
Prioritise the health, safety,
and wellbeing of Members,
staff, volunteers and
supporters.
Efficient and timely delivery
of financial and other
support services to the		 A return on investment of4
(2022: 3).
17pence of every pound of
income in 2023 is planned to
be spent to raise funds in
2024 (2022: 22p).
Up to date Health & Safety
manual in place; and
establishment of a
conducive environment that
is compliant with relevant
governmental regulations.
Efficient, responsive,
proactive, and fit for purpose
Finance and Support
function inplacewitha

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Association in a cost
effective manner.		 focus on risk based
approach and continuous
improvement.

SECURITY

Throughout 2023 Blesma’s Support and Outreach Officers, supported by specialist head office staff have continued to deliver advice, assistance and welfare support to our 2,662 Members in the UK and abroad. In addition, our 80 active volunteers selflessly supported Blesma in a variety of ways, from befriending calls to transporting mobility aids from region to region or Member to Member.

2023 saw the return of a more traditional model of welfare delivery, supplemented by online and telephone services being provided by Support Officers, Outreach Officers and Branch and regional volunteers. In total there were 14,170 contacts with our members during 2023, of which, 677 were home visits and 30 were on-line consultations. Our work to counter digital isolation has continued throughout 2023 with Members engaging online with families, friends, and other Members across the country and overseas.

In total, Blesma awarded 1,397 welfare grants to 1,141 members in 2023, providing support across a range of member’s needs including powered and manual wheelchairs, mobility scooters, stairlifts, disabled bicycles, and white and brown goods (Essential household goods). We also assisted with adaptions to bathrooms, kitchens, access to homes, car ports and gardens. Members were also provided with equipment and training for employment.

Feedback from Blesma’s Support Officers indicated that casework during 2023 continued to follow a similar theme to 2022 by becoming more complex, professionally demanding and time intensive with some evidence that statutory services were struggling to meet the financial obligations to provide works or services. This was largely attributed to the impact of the Covid legacy and financial pressures on statutory service delivery, particularly where support to Members required a multi-agency intervention. Where this was evident, Support Officers continued to coordinate with other providers in multidisciplinary teams to ensure Members receive the joined-up support they needed.

Delivery of in-person prosthetics support by all NHS limb centres continued in 2023. Staff levels remain a concern in some areas. Most limb centres in England now manufacture new sockets off-site using a central fabrication approach which, on occasions, led to additional delays, particularly when problems with sockets were identified at the fit and delivery stage. In 2023 we continued to monitor developments in prosthetic provision to our Members across the UK. At an individual level, Blesma advocated directly for Members who required support locally at their NHS Limb Centres. We continued to raise

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awareness of living with physical disability through regional GP veteran’s awareness training sessions over the year.

The Complex Prosthetics Assessment Clinic received 11 referrals for provision of prosthetic sockets. The Veterans Trauma Network was renamed Op Restore and Blesma attended the official launch as key partners in the network, Blesma was represented on the Op Restore programme board and was actively involved in 22 Multi-Disciplinary Teams meetings which directly benefited our Members. In 2023 Op Restore received 358 referrals into the service.

Blesma continued to maintain close links with the Defence Medical Rehabilitation Centre at Stamford Hall, where we enjoy good working relationships with both the clinical staff and the Veteran Welfare Service. Blesma’s support recovered to pre-Covid levels with regular visits to Stanford Hall by BSO Midlands.

For those with Service attributable amputations, the Veterans Prosthetic Panel continued to provide an excellent route for funding components in England. In 2023, the VPP authorised 376 successful advanced prosthetic component applications for veterans valued at £2,111,591. Eligible Members living in the devolved administrations had similar access to enhanced prosthetics through national care pathways, again supported by Blesma.

Blesma’s BSO Prosthetics continues as a member of the NHS England Prosthetic Service Review board which is at the stage of designing and drafting an NHS-wide Service specification which will be publicised and subject to public consultation in due course. Blesma were also represented on the Direct Skeletal Fixation (Osseointegration) Policy Working Group which submitted a policy draft and evidence review to NHS England for consideration of further surgical intervention for prosthetic users who have a low tolerance of conventional prosthetic sockets. Despite a successful completion of outstanding Osseointegration surgeries, NHS England were unable to commission this intervention during the funding round for 2023/24 due to other funding priorities.

The Pattenmakers . In 2023, Blesma was pleased to remain engaged with the Worshipful Company of Pattenmakers, and particularly delighted that through their generous donation, we were able to assist another member to have a pair of bespoke leather shoes made by Bill Bird Shoes which supported the use of orthotics to aid mobility. The Member was proud to wear the shoes at the National Remembrance Parade at the Cenotaph in London in November. We look forward to further engagement and support in 2024.

Blesma’s membership enquiries and application process continued to benefit from the move to an online process in 2023 with 217 new members joining the Association during the year, some applications were received from veterans whilst still recovering in hospital, helping to reduce anxiety and stress about what will happen next for them.

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Blesma’s Benefits and Social Care Advisor successfully resolved 63 benefit enquiries submitted via BSOs and a further 31 directly from members. She also conducted at home consultations with BSOs to advise and support members with particularly complex cases as well as video message consultations. Blesma continued to engage with the DWP and its providers to ensure the Association kept staff and members up to date with legislation and processes. BSOs also continued to directly support individual Members who wished to challenge their War Pensions, Armed Forces Compensation Scheme Awards or DWP benefits. This also included representing them at 10 Hearings or Tribunals. Blesma continued to engage with the DWP and delivery partners, highlighting issues affecting veterans. This included monitoring and publishing changes to existing policy which may affect Members.

Work with Devolved Governments .

Blesma continued to work with Social Security Scotland to help shape their new disability benefit system, specifically where it has impact on veterans. The Adult Disability Payment is the Scottish equivalent to the Personal Independence Payment.

In Wales, Blesma continued to attend the Cross-Party Group for Armed Forces and maintained a strong relationship with the Welsh Government Armed Forces Team. The Association continued to highlight gaps in support for Veterans and their families in Wales, while supporting initiatives to improve service provision, reduce social isolation for veterans and improve prosthetics provision. BSO (Wales and West) collaborated directly with the new Wales Veterans Commissioner and now sits as Vice Chair of the Wales Veterans Advisory and Pensions Committee (VAPC).

In Northern Ireland the Association worked closely with the NI Veterans Support Office (NIVSO) to coordinate support and raise awareness of veteran’s issues. Blesma also contributed to the success of six veteran’s information roadshows hosted by the Veterans Commissioner. BSO (Prosthetics) and BSO Scotland & Northern Ireland are members of the NI Armed Forces Liaison Forum and work with the Musgrave Park Limb Centre on issues affecting prosthetic provision in the Province.

Branch Network

Blesma’s five remaining branches continued to support and connect our members through their local networks of Members and volunteers, supported by regional Blesma Support Officers and Outreach Officers.

In 2023 the Bournemouth and District Branch reported that they had a good year and kept in touch with all their Branch Members by letter. They held regular meetings and well attended events in both Bournemouth and

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Dorchester, to ensure that they reached those that are out of Bournemouth’s catchment area. In December they enjoyed hosting Vivienne Buck CBE, Blesma’s new Chief Executive, at their Branch Christmas lunch. Last year, a proposal was put forward to share a joint venture with Southampton Branch, and this will come into fruition in 2024.

Merton Sutton and Districts Branch have welcomed quite a few new Members who regularly attend the Branch meetings. They hold five to six meetings a year and all are very well attended. The Branch Members are inspiring and take on challenges that most would baulk at, including skiing, car rallying to Gibraltar, horse riding, amongst a host of others. Pete Turner, the Chelsea Pensioner Branch Member, successfully organised a few trips to The Royal Chelsea Hospital in 2023. It was an honour for the Branch to visit this great establishment and dine in the magnificent Great Hall. The Branch looks forward to celebrating its 75th year in 2024.

Nottingham Branch continues to flourish, regularly welcoming new Members who attended meetings throughout the year. During 2023 they ran six Branch meetings and lunches, at The Vale Hotel in Daybrook, Nottingham. These were all well attended with on average 15–20 Members. Unfortunately, poor weather resulted in the cancellation of a Blesma and Branch fundraising and awareness event at Thoresby Park, but this will be re-organised for summer 2024. After an absence of 3 years, the Nottingham Branch summer evening meal was held at Colwick Hall. A fabulous event where 24 members gathered in the once ancestral home of the famous poet Lord Byron. The Branch Christmas Lunch was held on the 5[th] December at The Orchard Hotel. Around 30 members enjoyed this spectacular venue set in the beautiful grounds of Nottingham University and Lakeside Park. They were also welcomed the new Chief Executive who gave an update on Blesma’s activities.

Great Yarmouth & Lowestoft Branch held three social events in 2023, with the AGM being held during the March lunch. Existing Committee Members were re-elected by Members. Branch membership was 33, but sadly in 2023 two Members passed away. The Branch held a stall at the Lowestoft Armed Forces Day event on 24[th] June, raising awareness of the support Blesma offers its Members, and raise funds to support branch activities. This continues to be the biggest fundraising activity. Local support for the branch is strong with regular attendance by both the Great Yarmouth and the Norfolk Broads Lions Club at the Christmas lunch, and donations from other supporters.

In 2023 Southampton Branch gained four new Members but sadly had three bereavements. At the AGM, all Committee Members continued to stand except for one who retired. The Branch made grants of £5,350 and also provided M&S vouchers and Post Office cards to its Members. The Mayor of Winchester was the main guest at the Summer Lunch and the Lord Mayor of Southampton and Mayor of Winchester at the Christmas Lunch at the Woodland Lodge Hotel. Blesma’s Chief Executive, Vivienne Buck CBE, Support Officer Pat Donnachie, and Outreach Officer Amy Barnes also attended. The Branch held two

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enjoyable trips in the Solent, which they hope to repeat in 2024. The Honorary Secretary laid the Branch Wreath at the Remembrance Service at Winchester Cathedral in November in memory of Fallen Comrades.

IDENTITY

A varied programme of international activities took place throughout the year. These including skiing in France, Winter Sports in Colorado, golf in Portugal and sailing in Greece.

There was also an excellent programme of national activities for Blesma Members ranging from Family Glamping to Gaming. The programme was also used to help deliver the Armed Forces Covenant Funded Afghan Veterans Fund project that focussed on those injured in recent conflicts including a trip to a Safari Park.

Blesma was awarded funding, again by the Armed Forces Covenant Trust, to deliver a Women’s Veterans Fund programme. Meetings with female Members took place and programme to be delivered in 2024 has been designed.

After the decision to bring Making Generation R to a close in 2022 the programme finally ended in June 2023 with a Closing Celebration in West Midlands Arts Centre which brought together Member participants from throughout the programme.

Making Generation R has been succeeded by a new Storytelling Wellbeing programme again delivered by our partner The Drive Project. The uptake of the new programme has been very successful with new and a wide range of Members signing up. The Storytelling programme included bringing Blesma Members injured in Afghanistan together with injured Ukrainian soldiers to share their experiences.

Members Weekend once again took place in Chesford Lodge, Warwickshire and included an in person Annual General Meeting. The Weekend included a Remembrance Service and a range of activities on the Sunday along with evening meals and plenty of opportunities to meet friends, new and old.

The Remembrance Cenotaph Parade took place in November and included a range of Members and the Chief Executive.

The Venture Fund continued to support Members taking part in personal sporting challenges and endeavours and in sporting pathways including the Paralympics. Members supported via the Venture Fund accomplished some amazing feats including climbing Everest, motorsports, diving, bodybuilding and representing the country a range of competitions.

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Coordination of the delivery of the Office of Veteran’s Affairs Health Innovation Fund project on Assistive Technology was carried out with our research partner Anglia Ruskin University and is due to end early 2024.

CONNECTIVITY

Four Blesma magazines were produced throughout the year focussing on Member stories and updates about the Association. Highlights included stories of Members injured in the Second Iraq War to mark its 20[th] Anniversary, Hari Budha Magar’s successful and record-breaking ascent of Everest, and the announcement of the successful bid and official launch of the Veteran’s Mobility Fund.

The Blesma website started undergoing a significant upgrade to its engine and online performance with the work scheduled to end in Spring 2024. Website traffic hit its highest ever level during the year. Blesma continued to have a strong presence across social media with particular growth seen on LinkedIn. Stories covered including Second Iraq War commemoration and Members supported via the Venture Fund.

Press coverage continued to be secured with the accomplishment of Hari Budha Magar, in particular boosting Blesma in the news, including the BBC. There was close cooperation between Blesma, Help for Heroes and the Office of Veterans Affair concerning the award of the Veterans Mobility Fund to Help for Heroes in partnership with Blesma. An official announcement took place in the Union Jack Club in October with the Minister for Veterans Affairs Rt Hon Johnny Mercer MP in attendance.

RESOURCING

In 2023, 77% ( 2022: 76%) of all income came from general fundraising in the form of donations and legacies; 18% came from the investment portfolio and investment property (rental income); and 5% from grants and miscellaneous sources. General fundraising income (excluding legacies) was above 2022’s income by 12% and above the set target by 24%, a significant achievement considering the economic headwinds at the start of 2023. Legacy income exceeded 2022’s income by 70% and was above target by 111%. The Association plans to use 17p ( 2022: 22p ) in every pound of income raised in 2023 to raise funds in 2024.

The Association is registered with the Fundraising Regulator and continues to abide by GDPR requirements in all its fundraising activities e.g., obtaining consent and being transparent. Blesma does not employ agencies to raise funds from the public and our fundraising activities are monitored closely. Our fundraising ethics and promise, complaints policy and privacy policy are published. Our safeguarding policy toward vulnerable people is adhered to in

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our fundraising activities. There were no formal complaints relating to Blesma’s fundraising methods in 2023.

PLANS FOR THE FUTURE

The Board of Trustees regularly review Blesma’s 5 year rolling Strategic Plan in step with the Board’s annual cycle of governance. A review of the Plan will be undertaken in 2024. The purpose of the Plan is to:

In future the Plan will address:

Security:

Identity:

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Connectivity:

Resourcing :

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FINANCIAL REVIEW

GENERAL PERFORMANCE IN 2023

During the year ended 31 December 2023, the Association recorded an operating loss of £717,697 ( 2022: £2,398,491). The net income after the gain on investments of £1,327,170 was £609,473 ( 2022: £5,800,840 net expenditure after investment loss of £3,402,348 ) largely due to comparatively positive macroeconomic indicators as inflation driven by energy prices continued to fall post the pandemic era despite the continuation of the war in Ukraine.

Donations, legacies, grants and other income amounted to £5,365,543 ( 2022: £3,956,288 ) and these included:

Total Incoming Resources less the cost of generating funds amounted to £4,202,842 ( 2022: £2,893,816). This included net Investment Income of £816,701 ( 2022: £537,670 ). The total increase in income was 36 % on the previous year overall.

Expenditure on Blesma’s charitable activities was £4,920,539 ( 2022: £5,292,307 ), a decrease of 7% over the previous year largely due to the pulldown effect of falling energy prices on inflation. This included:

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FUNDRAISING

Total fundraising income was £4,110,227 ( 2022: £3,024,554 ), an increase on of 36% on the previous year largely due to positive economic outlook. The performance of selected individual income streams in 2023 was as follows:

INVESTMENT POLICY AND PERFORMANCE

The Association’s funds are invested in line with direction given by Trustees to its Fund Managers, Cazenove Capital Management, in the form of investment policy. Trustees delegate matters of policy development and general supervision to the Finance and Investment Sub Committee. It delegates dayto-day policy management to the National Treasurer and the Finance and Support Director and the Chief Executive who remain in close contact with Fund Managers. The Fund Managers present the Investment Report to the Finance & Investment Sub Committee twice a year, and Trustees receive quarterly Reports. An ethical ‘look through’ is conducted annually.

Investment Objective

Blesma’s investment objective is to have an optimum level of income commensurate with operational requirements to meet the needs of Members, whilst maintaining the real value of the investments over the longer term. The return for 2023 was based on a total return basis (i.e., income and capital).

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Asset Allocation and Benchmarks

During 2023 Trustees and Managers reviewed and confirmed the asset allocation being set within the following ranges:

Investment Restrictions

Not to invest in unquoted securities, individual Futures, Warrants or Commodities, in property directly, or to participate in underwriting. Fund Managers are not to invest directly in foreign currencies or Chinese government securities without prior agreement with Trustees. Total equity allocation should not exceed 80% and not fall below 50%.

Investment Performance

Invested funds increased to £33m ( 2022:£32.8m ) over the period. The net income was £816,701 ( 2022: £537,669 ) - a yield of 2.5% ( 2022: 1.6%). In Q4 of 2023, the performance of the equity market was up by 9% led by the ‘Magnificent 7’ or the ‘Big 7’ stocks (i.e., Tesla, Apple, Amazon, Facebook, Google, Microsoft, NVIDIA) which represent circa 28% of the US or the S & P 500 US market. Minus the ‘top 7’ stocks the performance of the equity market was flat. The bonds market performed below par largely due to high interest rates whereas the commodities market (oil and gold) was helped by the war in Ukraine. The strategic allocation of bonds increased slightly whereas the balance on the cash portfolio slightly reduced to 6% of the total fund value. The inflation objective of CPI + 3.5% can only be achieved over the long term. The trustees approach in 2023 was to cut through the noise and focus on the long term performance of the portfolio because Blesma aims to be there for its Members for life.

RISK MANAGEMENT

At a strategic level the Charity Commission’s guidance, Charities and Risk Management, on the four basic approaches of transferring, avoiding, managing or accepting risk has been followed. Strategic and operational level risks are reviewed quarterly by the Board using a traffic light system of risks against

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performance and management, including mitigation and trend analysis. The two most concerning strategic risks are:

In the opinion of the Trustees the Association has the established resources and the review systems in place, which should allow risks identified by them to be managed appropriately.

CHARITY RESERVES

Blesma’s Free Reserves (i.e. investment portfolio plus cash at bank) at the balance sheet date stood at £35.7m ( 2022: £36m ), broadly the same as 2022. The total Fund balance was £39,238,072 ( 2022: £38,628,599 ) of which Unrestricted Funds stood at £38,692,580 ( 2022: £38,081,435 ) and Restricted Funds £545,492 ( 2022: £547,164 ). Blesma’s resources are managed in a sustainable manner in order to achieve its charitable objectives of supporting its Members for life. The need to maintain contingency for the casualties of future conflict requires readiness, as do unforeseen issues such as those we have experienced in the recent past. Blesma’s main assets are its office building and the investment portfolio managed by Cazenove.

20 per cent of Free Reserves is allocated to an increase in spending on more comprehensive services to Members as defined in the Strategic Plan.

20 per cent of Free Reserves is allocated to funding the increased cost of supporting care for the most infirm and those in later life, specifically in the longer term under the Blesma grants scheme. The demand for welfare grants remains elevated though not as high as in 2022. The government continues to be under pressure to deliver appropriate health and social care provision, particularly for those in later life. This is reflected across the NHS and at Local Authority/ Integrated Care Board level. Where State provision is found wanting in a definite way, and on the understanding Blesma is not replacing the State

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in a wholesale manner, grants are made to relieve distress and meet immediate need.

20 per cent of Free Reserves is allocated to providing instant funds for the support of casualties in a future conflict and to absorb increased costs in the provision of services resulting from medical advances and a more holistic approach. Blesma must be ready for unexpected and violent scenarios.

40 per cent of Free Reserves will remain as such (approximately 28 months of operating costs) to ensure business continuity, thus demonstrating to beneficiaries, funders and the public the charity’s continuing resilience and capacity to manage unforeseen financial difficulties. Free Reserves are the only asset available to Blesma to meet ongoing, and future, commitments to support the membership for life should current income streams be jeopardised.

At the balance sheet date, the Trustees are satisfied that the level of Free Reserves is adequate for the purpose, given the requirement to address a backlog in health provision, ongoing economic uncertainty and increasing pressure on household incomes that is likely to continue to impact on charitable donations. The Board will continue to review the Association's reserves and its policy annually; more frequently if circumstances dictate. Trustees pay particular attention to the ratio of Free Reserves to operating costs.

GOING CONCERN

Despite reporting a comparatively lower operating loss during 2023 ( 70% below the operating loss reported in 2022 ), the Trustees are content that Blesma retains sufficient free reserves to meet its commitments in the foreseeable future and is therefore a going concern. The Blesma Strategic Plan continually looks forward five years matching policy, resources, programmes and projects, ensuring prudent balance is maintained. In 2023 Blesma partially applied its reserves to cover excess expenditure over income in furtherance of its charitable objectives as planned.

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GOVERNANCE AND ADMINISTRATIVE REPORT

STRUCTURE, GOVERNANCE & MANAGEMENT

CONSTITUTION

Charity Number 1084189 Company Limited by Guarantee Number 4102768 Registered in Scotland SC010315

Blesma The Limbless Veterans is a national charity for those who lose limbs or the permanent use of limbs, or lose the sight of eyes, or suffer permanent loss of speech or hearing, in Service or as a result of Service in Her Majesty’s Forces, or Auxiliary Forces, and for ex-Service men and women who lose limbs or sight of eyes, or in certain circumstances use of limbs, after Service. While the majority of its Members are ex-Service men and women, there are a number who are still serving. Membership is also open to all men and women of civilian status who lose a limb or an eye, or suffer the loss of use of limb as a result of War Service or enemy action, or terrorist action against Her Majesty’s Forces with which those of civilian status are employed, or volunteer, to provide direct support, or in exceptional circumstances subject to the approval of Trustees.

The Association also accepts responsibility for the dependants of its Members and in particular their Widows as beneficiaries. The Association is governed by its most recent Articles of Association and Rules adopted at the Annual General Meeting on 25 June 2023.

ANNUAL GENERAL MEETING AND APPOINTMENT OF TRUSTEES

The Blesma AGM was held during the 2023 Members Weekend on 25[th] June 2023. A full report on proceedings was included in the Autumn Association Magazine .

The maximum number of elected Trustees is 11. One third of trustees are required to resign and stand for re-election, if they so wish, at each AGM.

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Additionally, any Trustee over the age of 70 must do likewise every year. The Board aims to achieve an appropriate balance of knowledge and experience; at least half the trustees should be full or associate Blesma Members while the remainder are granted honorary membership. This promotes connectivity across the Association and the right blend of experience, knowledge and expertise to fulfil all Board responsibilities. Blesma acknowledges the Charity Governance Code, abides by the Code’s principles and works to implement the recommended practice. Blesma is a full Member of the Confederation of Service Charities.

TRAINING OF TRUSTEES

Following election to the Board, each Trustee is provided with relevant Charity Commission publications covering responsibilities and essential knowledge, and these are updated when necessary. Trustees also receive regular briefings on issues affecting charities at their quarterly meetings. New Trustees receive a full induction programme covering both their generic and specific responsibilities and the spectrum of Blesma business, including externally provided training.

ORGANISATIONAL STRUCTURE

The Board. The Board of Trustees exercises supervision by holding four meetings each year. The agenda cycle is Fiduciary and Strategy (March/April), Performance and Risk (June), Strategy Review and Programme Proposal (September) and Programme Approval (December).

The Board of Trustees:

National Chairman: Gen Sir Adrian Bradshaw KCB OBE DL Vice Chairman: Mr S White Honorary Treasurer: Mr M Ambler

Mr R Gilbert Ms A Grant Mr N Heritage Mr R Kerrigan Mr L Maguire Mr A Mistlin CBE Mr C Rouse MBE Mr C Whitworth

Mr C Rouse was extended in post as a trustee for 2023/24 in order to retain his specialist knowledge of Member events and activities.

The Finance & Investment Sub Committee (FISC). The FISC meets twice a year under the chairmanship of the Honorary Treasurer. Its terms of reference including delegated powers are laid down in an appropriate Blesma 29

Governance Instruction. At each bi-annual meeting the FISC is briefed by the Association’s investment managers from Cazenove Capital Management Limited.

The Remuneration Sub Committee (RSC). The RSC meets once a year routinely, under the chairmanship of the Vice Chairman. It reports to the full Board to make recommendations upon the specific remuneration and terms and conditions of service for the Chief Executive and Senior Management Team, and remuneration policy in general for all staff.

The Governance Sub Committee (GSC). Governance matters and Blesma’s policies are reviewed on a regular basis by the GSC under the chairmanship of the Vice Chairman. Blesma’s Governance Standing Instructions are reviewed annually.

The Executive. The Chief Executive Ms V W Buck CBE runs the Association on a day-to-day basis from Chelmsford in Essex.

The key structure is:

There are no trading subsidiaries of Blesma.

KEY MANAGEMENT – REMUNERATION

The remuneration of key management personnel is set by the Trustees, upon recommendation of the Remuneration Sub Committee, with the policy objective of ensuring that they are provided with appropriate incentives to encourage strong performance and are, in a fair and responsible manner, rewarded for their individual contributions to the Charity’s success. The appropriateness and relevance of remuneration is reviewed annually, in particular noting role

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responsibilities and including reference to comparisons with sector and national statistics to ensure that Blesma remains sensitive to the broader issues of pay and employment conditions elsewhere. The key management are the Chief Executive, the Director of Operations, the Director of Independence and Wellbeing and the Finance and Support Director, collectively known as the Senior Management Team (SMT). The staff salary bands and sum of remuneration are noted in the Charity Accounts. The Chief Executive and SMT are employed on the same terms as all other staff and the Charity does not pay bonuses. Trustees normally receive no remuneration or benefits other than expenses incurred.

DATA PROTECTION

Trustees are briefed regularly on matters surrounding data protection and personal information, and ensure policies are appropriate and kept up to date. Blesma continues to closely monitor its compliance with General Data Protection Regulations and the Blesma Privacy policy is published on the Blesma website.

STATEMENT OF TRUSTEES’ RESPONSIBILITIES AND CORPORATE GOVERNANCE

The trustees, who are also the directors under company law, are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with the Statement of Recommended Practice for Charities (SORP 2015) issued October 2019, Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Companies Act 2006.

Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the profit or loss of the charity for that period. In preparing these financial statements, the trustees are required to:

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The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Insofar as each of the trustees of the company at the date of approval of this report is aware there is no relevant audit information (information needed by the company’s auditor in connection with preparing the audit report) of which the company’s auditor is unaware. Each trustee has taken all the steps that they should have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the company’s auditor is aware of that information.

This Report which incorporates the Strategic Report, was approved by the Trustees on 4[th] April 2024, and signed on their behalf.

General Sir Adrian Bradshaw KCB OBE DL National Chairman

4[th] April 2024

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INDEPENDENT AUDITOR’S REPORT TO THE - MEMBERS OF THE BRITISH LIMBLESS EX SERVICE MEN’S ASSOCIATION

OPINION ON THE FINANCIAL STATEMENTS

We have audited the financial statements of the British Limbless Ex-Service Men’s Association for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement, and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the charitable company’s affairs as at 31 December 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities and Trustee Investment (Scotland) Act 2005 and Regulations 6 and 8 of the Charities Accounts (Scotland) Regulations 2006 (amended).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

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Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustee's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion based on the work undertaken in the course of our audit the information given in the trustees’ report, which includes the directors’ report and the strategic report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the strategic report and the directors’ report included within the trustees’ report have been prepared in accordance with applicable legal requirements.

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Matters on which we are required to report by exception

In light of the knowledge and understanding of the charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report included within the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 requires us to report to you if, in our opinion:

adequate and proper accounting records have not been kept; or

the financial statements are not in agreement with the accounting records and returns; or

certain disclosures of trustees' remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 30, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with the Acts and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material

35

misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations, are set out below.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.

We obtained an understanding of the legal and regulatory frameworks within which the charitable company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006 and the Charities and Trustee Investment (Scotland) Act 2005 and fundraising regulations, together with the Charities SORP (FRS102) 2019. We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company for fraud. The laws and regulations we considered in this context for the UK operations were fundraising regulations, and General Data Protection Regulation (GDPR).

Auditing standards limit the required audit procedures to identify noncompliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any. We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the override of controls by management. Our audit procedures to respond to these risks included enquiries of management and the Board of Trustees about their own identification and

36

assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, including Serious Incidents reported, and reading minutes of meetings of those charged with governance. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed noncompliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect noncompliance with all laws and regulations.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Dipesh Chhatralia Senior Statutory Auditor For and on behalf of Crowe U.K. LLP Statutory Auditor London

26 April 2024

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BRITISH LIMBLESS EX-SERVICE MEN'S ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2023

Notes
FUNDS
UNRESTRICTED		 RESTRICTED
FUNDS		 2023
2022
TOTAL
TOTAL
£
Income
2
3,770,416
936,451
67,133
-
21,552
1,025,136
4,795,552
Expenditure on raising funds
Fundraising
5
1,039,601
Investment Management fees
119,750
1,159,351
Membership Services - Welfare
6
3,253,386
Membership Services - Activities
7
796,749
Awareness and Representation
8
302,091
4,352,225
5,511,577
Operating (loss)/surplus
(716,025)
12
1,327,170
611,145
Transfers between funds
-
Net movement in funds for the year
611,145
Balances brought forward 1 January 2023
17/18
38,081,435
BALANCES CARRIED FORWARD 31 DECEMBE
38,692,580
Security
Donations and Legacies
Investment Income
Total Income
Expenditure
Resourcing
Expenditure on charitable activities
Other Income
Grants
Investment Income - Other
Identity
Connectivity
Total Expenditure
Net gain / (loss) on investments
Net income/(expenditure)		 £
339,811
-
-
230,180
-
230,180
569,991
3,350
-
3,350
463,525
99,404
5,384
568,313
571,663
(1,672)
-
(1,672)
-
(1,672)
547,164
545,492		 £
£
4,110,227
3,024,554
936,451
664,868
67,133
44,849
230,180
198,934
21,552
23,084
1,255,316
931,734
5,365,543
3,956,288
1,042,951
935,274
119,750
127,198
1,162,701
1,062,472
3,716,911
3,861,705
896,153
1,117,831
307,475
312,771
4,920,539
5,292,307
6,083,240
6,354,779
(717,697)
(2,398,491)
1,327,170
(3,402,348)
609,473
(5,800,840)
-
-
609,473
(5,800,840)
38,628,599
44,429,439
39,238,072
38,628,599

The Notes on pages 41-55 form part of these financial statements.

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BRITISH LIMBLESS EX-SERVICE MEN'S ASSOCIATION BALANCE SHEET (Company number: 04102768) AS AT 31 DECEMBER 2023

2023
TOTAL		 2022
TOTAL
Notes
Fixed assets
Tangible fixed assets
11
Intangible fixed assets
11(b)
Investment properties
11(a)		 £
2,079,694
8,951
820,398		 £
2,143,755
18,023
839,345
Investments
12		 32,970,630 32,769,056
Current Assets
Stocks
Debtors
13		 35,879,673
22,310
1,087,717		 35,770,179
15,771
515,210
Balances at bank and in hand 2,771,802 2,838,237
Creditors: amounts falling due within one year
14
Provision for liabilities and charges
14 (a)
Net current assets
Net Assets
FUNDS
Unrestricted funds
17
Restricted funds
18
Total Funds		 3,881,828
466,616
56,812
3,358,399
39,238,072
38,692,580
545,492
39,238,072		 3,369,218
458,363
52,434
2,858,420
38,628,599
38,081,435
547,164
38,628,599

Approved by the Board of Trustees on 4 April 2024 and signed on its behalf by: General Sir Adrian Bradshaw KCB OBE M Ambler V Buck CBE

The Notes on pages 41-55 form part of these financial statements.

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BRITISH LIMBLESS EX-SERVICE MEN'S ASSOCIATION CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023

----- Start of picture text -----
2023 2023 2022 2022
£ £ £ £
Cash flows from operating activities:
Net cash provided by (used in) operating activities (2,186,407) (2,906,458)
Cash flows from investing activities:
Investment income 1,003,585 709,717
Purchase of investments (9,438,050) (8,607,825)
Purchase of property, plant and equipment (9,209) (50,883)
Proceeds from the sale of investments 11,414,210 9,264,224
Net cash provided by (used in) investing activities 2,970,537 1,315,234
Cash flows from financial activities
(Increase)/decrease in amounts awaiting investment (850,565) (166,733)
Net cash provided in (used by) financial activities (850,565) (166,733)
Change in cash and cash equivalents in the
reporting period (66,435) (1,757,957)
Cash and cash equivalents at the beginning of the
reporting period 2,838,237 4,596,194
Cash and cash equivalents at the end of the
reporting period 2,771,802 2,838,237
(a) Analysis of cash and cash equivalents 2023 2022
£ £
Cash at bank and in hand 2,771,802 2,838,237
2,771,802 2,838,237
(b) Reconciliation of cash flows from operating activities 2023 2023
£ £
Net (expenditure)/ income
as per the Statement of Financial Activities 609,473 (5,800,840)
Adjustments for:
Net (gain)/loss on investments (1,327,170) 3,402,348
Investment income (1,003,585) (709,717)
Depreciation and amortisation 100,591 163,269
(Increase) / decrease in stocks (6,539) (2,017)
(Increase) / decrease in debtors (572,506) (83,370)
Increase/(decrease) in creditors 12,631 96,377
Prior year adjustment 697 27,491
Net cash provided by (used in) operating activities (2,186,407) (2,906,458)
----- End of picture text -----

The Notes on pages 41-55 form part of these financial statements.

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BRITISH LIMBLESS EX-SERVICE MEN’S ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1. CHARITY INFORMATION AND ACCOUNTING POLICIES

British Limbless Ex-Service Men’s Association is a Member charity specialising in and helping limbless and loss of use of limbs veterans.

The charity is a private company limited by guarantee (registered number 4102768) and was established in 1932 (charity number 1084189) and incorporated in 2000. The charity is also registered in Scotland (registered number SC010315). The address of the registered office is 115 New London Road, Chelmsford, Essex, CM2 0QT.

Accounting policies

The following accounting policies have been applied consistently for all years in dealing with items that are considered material in relation to the financial statements of the Charity.

i) Basis of preparation. The financial statements have been prepared in accordance with Accounting and Reporting by Charities under the historic cost convention, as modified for the revaluation of certain investments and properties measured at fair value, and in accordance with the Statement of Recommended Practice (SORP) Accounting and Reporting by Charities , 2[nd] edition, published in 2019, Financial Reporting Standard 102 ‘ The Financial Reporting Standard applicable in the UK and Republic of Ireland ’, the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005, and the Companies Act 2006.

The Charity meets the definition of a public benefit entity under FRS 102.

ii) Going concern. As stated in the Trustee’s Report, Trustees believe there are no material uncertainties that call into doubt the Charity’s ability to continue as a going concern and the accounts have therefore been prepared on the basis that the Charity is a going concern. In the short term cash holdings are sufficient to ensure adequate cashflow for the foreseeable future. In the medium to long term plans for, and the structure of, Blesma remain extant and will continue to be reviewed regularly.

iii) Fund accounting. Donations for specific capital projects are transferred to the fixed asset fund. Income received for specific expenditure is restricted for that purpose, as analysed under Note 18. Capital expenditure not funded by donations is allocated from the general fund. Annual depreciation is transferred from the fixed asset fund to the general fund so that the fixed asset fund is always equal to the book value of the fixed assets.

41

iv) Income. All income is included in the Statement of Financial Activities when the Charity is entitled to it and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

v) Expenditure. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all the costs related to a category. Where costs cannot be directly attributed to particular category they have been allocated to activities based on staff head count full time equivalents (FTE), as shown in Note 10. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

vi) Estimates and judgements. Estimates and judgements are continually evaluated and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Estimations that have a significant effect on the amounts recognised in the financial statements are summarised below:

Depreciation – is calculated based on the useful life of the asset and written off accordingly.

Provision for Care Home Residents – is an estimate for third party assistance to care for Blesma Members resettled in care homes shown as part of Note 14(a).

vii) Governance Costs. Governance costs are those incurred in compliance with constitutional and statutory requirements and are shown as part of Note 10.

viii) Tangible Fixed Assets. Tangible Fixed Assets are stated at cost less depreciation and are capitalised at a value of £1,000 and above. They are depreciated at rates intended to reduce their cost to their residual value over their estimated useful life on a straight-line basis as detailed below:

42

o Freehold Property 2.0% on cost o Furniture, Fittings and Equipment 10.0% on cost o Computer Equipment 33.3% on cost o Motor Vehicles 25.0% on cost o Coaches and Buses 12.5% on cost

ix) Intangible Fixed Assets. Intangible fixed assets are capitalised at a value of £1,000 and above and include software costs. They are amortised over 3 years i.e. 33.3% on cost over their estimated useful life on a straight-line basis.

x) Investment Properties. Investment properties are included in the accounts measured at fair value. The properties are reviewed annually for impairment. Any change in fair value is reflected through the Statement of Financial Activities.

xi) Investments. Fixed asset investments are stated in the Balance Sheet at market value. Realised gains and losses on disposal and unrealised gains on investments are shown in the statement of financial activities.

xii) Stocks. Stocks are valued at the lower of cost and net realisable value.

xiii) Pension Costs. The charity contributes to a Group Personal Pension scheme with AEGON which is a defined contribution scheme. The amounts charged in the accounts are the employer’s contributions payable in the financial year.

xiv) Operating Leases. Rentals applicable to operating leases are charged to the statement of financial activities in the period to which the cost relates. Operating lease commitments are highlighted under Note 20.

xv) Financial assets and liabilities. Financial assets and financial liabilities are recognised when BLESMA becomes a party to the contractual provisions of the instrument. Additionally, all financial assets and liabilities are classified according to the substance of the contractual arrangements entered into. Financial assets and liabilities are initially measured at transaction price (including transaction costs) and are subsequently re-measured where applicable at amortised cost.

Financial assets held at amortised cost comprise of cash and bank, together with accrued interest and other debtors.

Financial liabilities held at amortised cost comprise of creditors and accruals.

43

----- Start of picture text -----
BRITISH LIMBLESS EX-SERVICE MEN'S ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2023 2022
£ £
2. Donations and legacies
Community and Lotteries 559,146 492,251
Corporate 156,507 50,894
Direct mail 362,788 355,518
Major donors 125,675 166,125
Organised events 54,316 78,366
Trusts and foundations 742,994 640,727
Legacies 2,108,801 1,240,673
4,110,227 3,024,554
----- End of picture text -----

Included in Trusts and foundations income is an amount of £350,000 (2022: £175,000) from the Antioch Settlement Trust.

Legacy Pipeline

The charity has been able to identify from incomplete bequests through pecuniary and residuary legacies confirmed and expect to receive approximately the sum of £159,186 (2022: £267,533). The bequests have not yet met all criteria for income recognition.

44

----- Start of picture text -----
BRITISH LIMBLESS EX-SERVICE MEN'S ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2023 2022
TOTAL TOTAL
4. Total Staff Costs £ £
Salaries and wages 1,904,410 1,870,324
Social security 205,280 204,684
Pension and life cover 100,797 96,889
Other staff costs 57,210 47,962
2,267,698 2,219,859
Actual number of staff employed (headcount average over 12 months):
Membership Services 28.3 27.6
Activities and Events 3.0 4.0
Fundraising 12.0 10.6
Awareness and Representation 1.3 2.8
Support 8.1 6.9
52.7 51.9
----- End of picture text -----

Total redundancies and settlement costs of £0 (2022: £0) were made in the year.

----- Start of picture text -----
|||| |---|---|---| |Key personnel| |The charity has four key personnel in the salary bands shown below (there are no bonus or benefit schemes).| |Staff salary bands:| |£60,000 - £70,000|-|1| |£70,000 - £80,000|2|1| |£80,000 - £90,000|1|1| |£90,000 - £100,000|1|1|

----- End of picture text -----

Total remuneration paid to key management personnel during the year is £379,284 (2022: £366,809).

BLESMA contributes to a Group Personal Pension scheme with AEGON and new employees are auto-enrolled upon joining.

Total reimbursement of travel and other expenses to members of the Board of Trustees was £4,698.93 (2022: £2,206). Trustees are remunerated when they undertake paid work for Blesma approved by the Board of Trustees. The total paid in 2023 was: £0 ( 2022: £2,700 ).

45

BRITISH LIMBLESS EX-SERVICE MEN'S ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

----- Start of picture text -----
2023 2022
£ £
5. Fundraising Costs
Staff costs 399,000 376,778
Database costs 41,080 26,642
Advertising costs 11,708 12,787
Community 9,329 13,160
Challenge and Events 22,142 17,121
Direct Mail costs 277,176 259,446
Other related costs 52,005 43,081
Attributable support costs 230,512 186,258
1,042,951 935,274
2023 2022
6. Membership Services - Welfare £ £
Staff costs 1,208,107 1,185,696
Welfare grants to members (all categories) 1,174,623 1,413,585
Continuing assistance to widows (all categories) 2,080 1,040
Chiropody 1,945 1,772
Welfare visiting 23,063 27,287
Other related costs 399,514 378,226
Members' annual conference 86,078 91,234
Special events 9,443 41,068
Research 15,300 16,822
Members' BLESMAG costs 197,645 184,850
Branch welfare activities 13,223 11,788
Branch support costs 746 880
Attributable support costs 585,145 507,457
3,716,911 3,861,705
----- End of picture text -----

Included in welfare grants is a total of £0 (2022: £368K) one-off cost of living grants paid to Members due to high energy prices caused by the war in Ukraine. A total of 1,397 grants were paid in 2023.

7. Membership Services - Activities
Staff costs
Activities and Events
Venturers program
Inspiration and Individual Recovery (Includes MGR)
Other related costs
Attributable support costs		 2023
2022
£
£
160,487
159,163
364,258
451,129
119,990
131,321
209,232
302,915
(2,143)
8,864
44,329
64,439
896,153
1,117,831

46

BRITISH LIMBLESS EX-SERVICE MEN'S ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

----- Start of picture text -----
||| |---|---| |2023|2022| |£|£|

----- End of picture text -----

----- Start of picture text -----
8. Awareness and Representation
Staff costs 84,260 129,540
General media costs 180,158 116,998
Subscriptions and fees 9,998 9,761
Other related costs 6,461 8,142
Attributable support costs 26,597 48,329
307,475 312,771
----- End of picture text -----

BRITISH LIMBLESS EX-SERVICE MEN'S ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

10. SUPPORT COSTS

Expenditure recognised in notes 5 to 9 includes Support Costs apportioned by full time employee equivalents (FTE) and is detailed below.

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |FUNDRAISING|[MEMBERSHIP ]|ACTIVITIES|AWARENESS &|2023|2022| |SERVICES|REPRESENTATION| |Basis of apportionment (FTE)|TOTAL|TOTAL| |£|£|£|£|£|£| |Salaries and related costs|115,977|294,404|22,303|13,382|446,067|379,955| |Travel and meetings|320|813|62|37|1,232|1,750| |Motor vehicle expenses|8,821|22,392|1,696|1,018|33,927|24,653| |Postage|1,933|4,908|372|223|7,436|10,916| |Telephone & office supplies|2,457|6,236|472|283|9,449|11,490| |Pensions to retired staff|233|591|45|27|896|864| |Headquarters premises cost|34,420|87,373|6,619|3,972|132,384|102,113| |Publications and subscriptions|2,208|5,606|425|255|8,494|8,398| |Office equipment maintenance|12,117|30,758|2,330|1,398|46,603|46,775| |Other professional fees|6,009|15,253|1,156|693|23,111|4,803| |Governance costs|17,099|43,404|3,288|1,973|65,764|43,999| |Bank charges|495|1,255|95|57|1,902|2,321| |Depreciation|26,342|66,869|5,066|3,039|101,316|163,269| |Sundries & Presentations|2,081|5,283|400|240|8,004|5,175| |230,512|585,145|44,329|26,597|886,583|806,483|

----- End of picture text -----

Governance costs include the gross annual audit fee of £31,500 incl VAT (2022: £30,500).

47

TISH LIMBLESS EX-SERVICE MEN'S ASSOCIAT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

11. Tangible Fixed Assets

Cost or valuation:
At 1 January 2023
Additions
Disposals
At 31 December 2023
Depreciation:
At 1 January 2023
Charge for the year
Depreciation on disposal
At 31 December 2023
Net book value
At 31 December 2022		 Freehold
Premises
£
2,373,003
-
-
2,373,003
309,344
46,583
-
355,927
2,017,076
2,063,659		 Computer
Equipment
£
149,545
6,784
-
156,329
128,571
13,439
-
142,010
14,319
20,974		 Fittings &
Equipment
£
147,239
-
-
147,239
88,841
10,099
-
98,940
48,299
58,398		 Motor
Total
Vehicles
£
£
69,613
2,739,400
-
6,784
(69,613)
(69,613)
-
2,676,571
68,889
595,645
-
70,121
(68,889)
(68,889)
-
596,877
-
2,079,694
724
2,143,755

11(a) The investment properties value of £820,398 is apportioned on the basis of floor space (sq ft).

Investment Property
Fair value at 1 January 2023
Loss during the period
Fair value at 31 December 2023
11(b) Intangible Fixed Assets
Brought forward at 1 January 2023
Additions
At 31 December 2023
Amortisation:
At 1 January 2023
Charge for the year
At 31 December 2023
Net book value
At 31 December 2023
At 31 December 2022		 £
839,345
(18,947)
820,398
Computer
Software
£
209,051
2,425
211,476
191,028
11,497
202,525
8,951
18,023

48

12. Investments
2023
£
FOR THE YEAR ENDED 31 DECEMBER 2023
BRITISH LIMBLESS EX-SERVICE MEN'S ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS		 12. Investments
2023
£
FOR THE YEAR ENDED 31 DECEMBER 2023
BRITISH LIMBLESS EX-SERVICE MEN'S ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS		 2022
£
Market Value
At 1 January 2023
Purchases
Sales
Net Investment gain/ (loss)
At 31 December 2023
Add: Cash awaiting investment
Market Value at 31 December 2023
Cost at 31 December 2023
Analysis of investments at 31 December 2023
UK Quoted investments
Equities:
United Kingdom
Europe / Asia
North America
Global
Total Equities
Bonds:
United Kingdom
Global
Total Bonds
Alternatives:
Multi-Asset
Hedge Funds
Property		 32,085,271
9,438,050
(11,414,210)
1,327,170
31,436,280
1,534,350
32,970,630
27,860,684
1,178,100
3,498,626
6,547,334
10,560,182
21,784,242
1,529,349
2,124,396
3,653,745
401,620
507,935
2,302,255		 36,144,018
8,607,825
(9,264,224)
(3,402,348)
32,085,271
683,785
32,769,056
30,015,784
3,087,517
3,947,112
5,842,532
8,445,845
21,323,006
1,595,454
1,356,908
2,952,362
594,224
574,118
2,614,627
Commodities & Others 2,786,483 4,026,934
Total Alternatives
Cash		 5,998,293
1,534,350
32,970,630		 7,809,903
683,785
32,769,056

49

BRITISH LIMBLESS EX-SERVICE MEN'S ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023


13. Debtors
Rent incentive debtor
Other debtors
Prepayments and accrued income
Accrued legacy income
14. Creditors due within one year
Trade creditors
Accruals
Other creditors (incl pension scheme)
2023
£
2,813
-
678,872
406,033
1,087,717
2023
£
228,438
231,076
7,102
466,616		 2022
£
6,563
700
392,842
115,106
515,210
2022
£
82,687

375,646
30
458,363

14 (a). Provision

The sum of £56,812 (2022: £52,434) is a provision for third party assistance to care for Blesma Members resettled in care homes as detailed below.

Carehome provision bal at 01.01.2023
Movement/ addition during the year
Carehome provision bal at 31.12.2023
15. Financial assets at fair value
Investments
Investment Property		 £
52,434

4,378
56,812
2023
2022
£
£
32,970,630
32,769,056
820,398
839,345

50

BRITISH LIMBLESS EX-SERVICE MEN'S ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

16. Related party transactions

BLESMA has a 20% interest in WSY Holdings Limited (in liquidation), a company established to distribute legacies arising from an estate. During the year BLESMA received £150,000 (2022: £0). WSY Holdings Limited was liquidated in 2023.

Other related party transactions to report are at note 4.

17. Unrestricted Funds
General Fund
Investment Properties
Intangible Fixed Assets
Fixed Asset Fund		 1 Jan 2023
£
35,080,313
839,345
18,023
2,143,755		 Income
£
4,795,552
-

-

-
 Expenditure
£
(5,511,577)
-
-
-		 Investment
Transfers
Gain (loss)
£
1,327,170
92,080

-
(18,947)

-
(9,072)
-
(64,061)

1,327,170
(0)
 31 Dec 2023
£
35,783,538
820,398
8,951
2,079,694
38,081,436 4,795,552 (5,511,577) 38,692,580

The trustees have designated a fixed asset fund in order to represent funds for depreciating assets in the charity.

18. Restricted Funds
All restricted funds are held as part of balanc
Welfare:-
Geographic specific
Specific restrictions - various individuals
Wives and widows
Libor Funds
Research
Chiropody Fund		 1 Jan 2023
£
es at bank and in
436,170
97,166
(0)
3,994		 Income
Expenditure
£
£
hand.
229,476
(269,035)
340,515
(296,389)
-
-

-
(3,994)
569,991
(569,418)
-
(300)
-
(1,945)
569,991
(571,663)		 31 Dec 2023
£
396,611
141,292
(0)
(0)
537,329
-
3,523
6,313		 537,902
-
3,223
4,368
547,164 545,492

51

BRITISH LIMBLESS EX-SERVICE MEN'S ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

19. Net Assets
The net assets of the charity are summarised below:
Fixed Assets
Intangible Fixed Assets
Investment Properties
Investments
Current Assets
Creditors		 Unrestricted
Restricted
Total
2023
£
£
£
2,079,694
-
2,079,694
8,951
8,951
820,398
-

820,398
32,970,630
-

32,970,630
3,336,336
545,492
3,881,828
(523,428)
-

(523,428)
38,692,580
545,492
39,238,072

20. Operating lease commitments

As at 31 December 2023, the charity had annual commitments under non-cancellable operating leases of:

Within one year
Between two and five years		 Motor
Vehicles
£
219,015
294,858		 Office
Equipment
2023
£
£
26,316
245,331

70,590
365,448
96,907
610,779
513,873

52

21. COMPARATIVE NOTES 2022

(a) Comparative Statement of Activities

BRITISH LIMBLESS EX-SERVICE MEN'S ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2022

Notes
FUNDS
UNRESTRICTED		 Notes
FUNDS
UNRESTRICTED		 RESTRICTED
2022
FUNDS
TOTAL
Income
2
Expenditure on raising funds
Fundraising
5
Investment Management fees
Membership Services - Welfare
6
Membership Services - Activities
7
Awareness and Representation
8
Operating (loss)/surplus
12
Transfers between funds
Net movement in funds for the year
Balances brought forward 1 January 2022
17/18
BALANCES CARRIED FORWARD 31 DECEMBER
Net income/(expenditure)
Expenditure on charitable activities
Security
Identity
Connectivity
Total Expenditure
Net (loss)/gain on investments
Investment Income - Other
Grants
Other Income
Total Income
Expenditure
Resourcing
Donations and Legacies
Investment Income		 £
2,718,267
664,868
44,849
-
23,084
732,801
3,451,067
934,274
127,198
1,061,472
3,249,893
1,078,668
312,771
4,641,332
5,702,804
(2,251,737)
(3,402,348)
(5,654,085)
-
(5,654,085)
43,735,520

38,081,435		 £
£
306,287
3,024,554
-
664,868
-
44,849
198,934
198,934
-
23,084
198,934
931,734
505,220
3,956,288
1,000
935,274
-
127,198
1,000
1,062,472
611,812
3,861,705
39,163
1,117,831
-
312,771
650,975
5,292,307
651,975
6,354,779
(146,755)
(2,398,491)
-
(3,402,348)
(146,755)
(5,800,840)
-
-
(146,755)
(5,800,840)
-
693,919
44,429,439
547,164
38,628,599

~~53~~

21. COMPARATIVE NOTES 2022 (continued)

(b,c) Comparative Unrestricted Funds

BRITISH LIMBLESS EX-SERVICE MEN'S ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

17. Unrestricted Funds
General Fund
Investment Properties
Intangible Fixed Assets
Fixed Asset Fund		 1 January 2022
£
40,594,520
857,150
66,095
2,217,756		 Income
Expenditure
£
£
3,451,067
(5,702,804)
-
-
-
-
-
-
3,451,067
(5,702,804)		 Investment
Gain (loss)
£
(3,402,348)
-
-
-		 Transfers
139,878
(17,805)
(48,072)
(74,001)		 31 December 2022
£
35,080,313
839,345
18,023
2,143,755
43,735,520 (3,402,348) (1) 38,081,435

The trustees have designated a fixed asset fund in order to represent funds for depreciating assets in the charity.

18. Restricted Funds
1 January 2022
Income
£
£
All restricted funds are held as part of balances at bank and in hand.
Welfare:-
Geographic specific
468,788
254,586
Residential Fees
82,229
-
Specific restrictions - various individuals
2,867
250,634
Wives and widows
110,347
-
Libor Funds
7,182
-
General Welfare
-

-
671,412
505,220
-
Prosthetic Aids
-
-
Research
3,823
-
Chiropody Fund
8,085
-
Branch specific
10,600
-

693,919
505,220		 18. Restricted Funds
1 January 2022
Income
£
£
All restricted funds are held as part of balances at bank and in hand.
Welfare:-
Geographic specific
468,788
254,586
Residential Fees
82,229
-
Specific restrictions - various individuals
2,867
250,634
Wives and widows
110,347
-
Libor Funds
7,182
-
General Welfare
-

-
671,412
505,220
-
Prosthetic Aids
-
-
Research
3,823
-
Chiropody Fund
8,085
-
Branch specific
10,600
-

693,919
505,220		 18. Restricted Funds
1 January 2022
Income
£
£
All restricted funds are held as part of balances at bank and in hand.
Welfare:-
Geographic specific
468,788
254,586
Residential Fees
82,229
-
Specific restrictions - various individuals
2,867
250,634
Wives and widows
110,347
-
Libor Funds
7,182
-
General Welfare
-

-
671,412
505,220
-
Prosthetic Aids
-
-
Research
3,823
-
Chiropody Fund
8,085
-
Branch specific
10,600
-

693,919
505,220		 Expenditure
£
(369,433)
-
(156,335)
(110,347)
(3,188)
-		 Transfers
82,229
(82,229)
-
-		 31 December 2022
£
436,170
-

97,166
(0)
3,994
-
671,412
-
-
3,823
8,085
10,600		 505,220
-
-
-
-
 (639,303)
-
(300)
(1,772)
(10,600)		 - 537,329
-
-

3,523
6,313
(0)
693,919 505,220 (651,975) - 547,164

54

21. COMPARATIVE NOTES 2022 (continued)

(d) Comparative Net Assets

BRITISH LIMBLESS EX-SERVICE MEN'S ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

----- Start of picture text -----
19. Net Assets Unrestricted Restricted Total
2022
£ £ £
The net assets of the charity are summarised below:
Fixed Assets 2,143,755 - 2,143,755
Intangible Fixed Assets 18,023 18,023
-
Investment Properties 839,345 839,345
Investments 32,769,056 - 32,769,056
Current Assets 2,822,053 547,164 3,369,218
Creditors (510,797) - (510,797)
38,081,434 547,164 38,628,599
----- End of picture text -----

55