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|CONTENTS||Page|
|---|---|---|
|Legal and administrative|information|1 —2|
|Chairman's<br>report on activity|||
|Chief executive's<br>report||4-5|
|Report ofthe trustees||6 —23|
|Independent<br>auditor's|report|24- 27|
|Statement<br>of financial|activities|28|
|Balance sheet||29|
|Statement<br>of cash flows||30|
|Notes to the accounts||31 —47|





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|Trustees<br>was signed <br>|were as follows:||
|---|---|---|
|Trustees|A G Wallis MBE OL DL (Chairman)||
||Dr P Dyer BA (Hons)<br>MA DUniv (Kent) FBIPP FIOD ACII||
||(Deputy<br>Chairman,<br>Chairman<br>ofthe|Business Strategy|
||Committee)||
||Colonel Christopher<br>MacKenzie-Beevor<br>CBE LVO (Honorary||
||Treasurer)||
||Field Marshal<br>The Lord Walker of Aldringham<br>GCB, CMG,||
||CBE, DL||
||G J Holbourn<br>FCA FCCA DChA (Member ofthe Business||
||Strategy Committee)||
||Air Chief Marshal<br>Sir Stephen<br>John|Hillier GCB CBE DFC MA|
|Management|Wg Cdr Dr Hugh<br>Milroy OBE BTh MA PhD DCL (h.c.) (Chief<br>Executive,<br>Member ofthe Business Strategy Committee)||
||Natalia<br>Dabrowska<br>BA MSc CG (Affiliated)<br>(Company||
||Secretary<br>and Head ofAdministration)||
||Richard Greenhough<br>BCom ACMA (Head of Financial||
||Services)||
||Pat O'Connor MBE (NBH Manager)||
||Dorothy Jones Dip Eng Law (Open)|MCIM MCIOF (Head of|
||Fundraising)||
|Advisors|Lt Col Ian Palmer,<br>Professor of Military<br>Psychiatry<br>(Honorary||
||Psychiatric<br>Advisor)||
||Robert Emmet<br>FCA (Honorary<br>Compliance<br>Advisor)<br>Amanda<br>Lennon, Solicitor (England 5Wales) FCIPD||
||LLB (Hans) (Principa<br>I HR Advisor)||
|Legal Advisers|Spencer West LLP||
||Longbow<br>House||
||20 Chiswell Street||
||London<br>EC1Y4TW||
|Auditors|Saffery Champness<br>LLP||
||Chartered<br>Accountants||
||71 Queen Victoria Street||
||London<br>EC4V 4BE||





## 

|Investment|Investment|Managers|S ik TAsset Management|LLP|||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|8 Stockbrokers|||42-45 Market Street,||||||||||
||||Stockport, Cheshire<br>SK6 7AA||||||||||
|Bankers|||HSBC Bank||||||||||
||||60 Queen Victoria Street||||||||||
||||London<br>EC4N 4TR||||||||||
||||Lloyds TSB||||||||||
||||1 Butler Place||||||||||
||||London SW1H OPR||||||||||
||||Clydesdale<br>Bank PLC (trading as Virgin|||Money)|||||||
||||35 Regent Street||||||||||
||||London SW1Y 4ND||||||||||
|Registered||Office|27 Victoria Square||||||||||
||||London SW1W ORB||||||||||
|Company||No|04544532||||||||||
|Charity|No||1095308||||||||||
|Constitution|||Veterans<br>Aid is a registered<br>charity<br>and|||a company||||limited||by|
||||guarantee,<br>registered<br>in|England.|It||is governed||||by|its|
||||Memorandum<br>and Articles|of Association|||which|were|||revised||
||||and adopted<br>by Special Resolution<br>on||3~||April 2014.||||||
|Subsidiaries|||Veterans<br>Aid<br>(Services)|Ltd,<br>company|||registration||||number||
||||06096959,is a wholly-owned<br>subsidiary,||||currently||dormant. It||||
||||has not traded<br>during the|year.|||||||||
||||Hollenden<br>House,<br>charity<br>number<br>Belvedere<br>House,<br>charity<br>number||1095308-1, and<br>New<br>1095308-2, are<br>wholly||||||||
||||owned<br>subsidiary<br>charities,<br>currently|||dormant.||Neither||||has|
||||traded<br>during the year nor holds any||assets at the||||year-end.||||
||||Under<br>a uniting<br>direction<br>issued<br>by the <br>dated 3" 3une<br>2003, these<br>subsidiary||||Charity<br>Commission<br>charities<br>are<br>not||||||
||||required<br>to prepare<br>a separate<br>Annual||||Report|and||Financial|||
||||Statements.||||||||||
|Registered||Social|Veterans<br>Aid is registered|as a Social|Landlord<br>under|||||the|||
|Landlord|||reference<br>LH0674||||||||||





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||||Note||2021||2020|
|---|---|---|---|---|---|---|---|
||||||E||E|
|Fixed assets||||||||
|Tangible<br>fixed assets<br>Investments|||7<br>8||7,644,982<br>1 190212||7,748,930<br>913,429|
||||||8,835,194||8,662,359|
|Current assets||||||||
|Stock<br>Debtors|||9<br>10|7,140<br>108,542||5,984<br>90,449||
|Cash at bank and|in|hand||68,253||172,962||
|||||183,935||269,395||
|Current liabilities||||||||
|Creditors:<br>Amounts<br>falling due<br>in less than one year|||11|(78,747)||(99,112)||
|Net current assets|||||105,188||170,283|
|Less: Pension<br>deficit||provision|26||(27,767)||(35,556)|
|Net assets|||||8 912615||8797 086|
|Funds||||||||
|Property Funds:<br>Permanent<br>Endowment<br>Restricted<br>funds|||12<br>13||2,512,053<br>5,083,470||2,512,053<br>5,191,629|
|Revenue<br>Funds:||||||||
|Restricted<br>funds|||13||650|||
|General funds|||||1,316,442||1,093,404|
|Totalfunds|||||8912615||8 797 086|





## 

## 

||||||gQ21||
|---|---|---|---|---|---|---|
|||||Note|||
|Net cash|provided<br>by operating|activities||22|88,986|100,070|
|ash flows from<br>i<br>in<br>activities|||||||
|Dividends,|interest<br>and rents from|investments|||23,689|22,511|
|Purchase|of property,<br>plant and equipment||||(42,189)|(12,177)|
|Proceeds|from sale of investments||||189,862|244,108|
|Purchase|of investments||||(366,498)|(256,391)|
|Net cash|used<br>in investing<br>activities||||(195,136)|(1,949)|
|Net (decrease)/increase<br>in cash 5||cash equivalents|||(106,150)|98,121|
|Cash and|cash equivalents<br>at the beginning||ofthe year||245,429|147,308|
|Cash and|cash equivalents<br>at end ofthe||year|23,24|139,279|245,429|





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||||Direct expenses|Direct expenses|Direct expenses||Support|costs|Total|
|---|---|---|---|---|---|---|---|---|---|
||||Staff||Other||Staff|Other|2021|
|||||E||E||E|E|
|Raising Funds||||||||||
|Fundraising<br>costs|||||7,755||100,135|34,972|142,862|
|Investment<br>management<br>Cost ofgoods sold||costs|||5,330|||2,256|5,330<br>2,256|
|Charitable<br>Activities||||||||||
|Accommodation<br>and support<br>for homeless veterans|||313,748||230,201||107,988|171,073|823,010|
|Rehabilitation<br>and emergency<br>care for homeless veterans|||||231|268|436 427|166374|834 1169|
||||313 748||474|554|644 550|374 675|1807 527|
||||Direct expenses||||Support|costs|Total|
||||Staff||Other||Staff|Other|2020|
|||||E||||E|E|
|Raising Funds||||||||||
|Fundraising<br>costs|||||9,541||94,619|27,243|131,403|
|Investment<br>management<br>Cost ofgoods sold||costs|||5,749|||1,038|5,749<br>1,038|
|Charitable<br>Activities||||||||||
|Accommodation<br>and support<br>for homeless veterans|||320,489||199,925||113,426|184,874|818,714|
|Rehabilitation<br>and emergency<br>care for homeless<br>veterans|||||339|604|456 346|136 141|932 091|
||||320 489||554|819|664 391|349 296|1888 995|
|Total resources<br>expended||are stated after||charging:||||2021|2020|
|||||||||E|E|
|Depreciation<br>(see note|1.8 and 7)|||||||146,137|160,950|
|Auditors<br>remuneration:|For audit|||||||17,480|16,320|
|Amounts<br>payable<br>under||operating|leases|||||102,839|104,599|
|Governance<br>(included||in Support Costs above)||||||||
|Audit fees||||||||17,480|16,320|
|Trustee expenses|||||||||63|
|Staff Costs allocation||||||||25,248|24,611|
|Office Costs allocation||||||||8,248|5,980|
|Other||||||||344|790|
|||||||||51320|47 764|





## 


|Staff costs||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||2021|2020|
|||||||||||E|E|
|Wages and salaries<br>Social security<br>Pension costs||||||||||808,638<br>80,418<br>42,915|848,931<br>77,251<br>40,003|
|||||||||||931,971|966,185|
|Other staff costs||||||||||26 327|18695|
|||||||||||958 298|984 880|
|One member<br>of staff (2020: 1) was provided<br>on full-time<br>secondment.<br>These donations<br>been valued<br>based<br>on the costs of a staff member<br>undertaking<br>the same role. Salaries <br>(2020:f31,300) and social security costs of E3,200 (2020: E3,150)for this secondee|||||||||||in kind have<br> of E31,700<br> are included|
|in the above figures.||||||||||||
|Average<br>number of staff:||||||||||2021|2020|
|The average<br>number|of staff, based||on|average||head||count,||Number|Number|
|working<br>during the year was||||||||||||
|NBH staff and care workers||||||||||13|14|
|Administration||||||||||10|10|
|The number ofemployees||whose emoluments|||(salaries,|||||||
|wages and benefits<br>in|kind) fell within||the following|||bands:||||||
|f60,000 to E69,999||||||||||||
|f90,000 to E99,999||||||||||||
|During<br>the year the pension<br>(2020:E12,270)||contributions||on|behalf|ofthese members||||of staff amounted<br>2021|to f12,715<br>2020|
|||||||||||E|E|
|The total remuneration<br>comprise the CEO and|of key management<br>personnel,<br> the NBH Manager<br>was||||||who|||174310|168712|
|Donations<br>in Kind||||||||||||
|||||||||||2021|2020|
||||||||||||E|
|Donations<br>in Kind||||||||||38966|55 274|
|||||||||||38,966|55,274|



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## 

|angible fixed assets||||
|---|---|---|---|
||Freehold<br>land|Fittings and<br>Equipment|Total<br>6|
||and|||
||buildings|||
|Cost||||
|At 1October 2020|7,920,000|679,830|8,599,830|
|Additions||42,189|42,189|
|Transfers||||
|Revaluations||||
|At 30September 2021|7 92D 000|722 D19|8 642 019|
|Depreciation<br>At 1 October 2020|216,318|634,582|850,900|
|Charge for the year|108,159|37,978|146,137|
|Write-back<br>on revaluation||||
|At 30September 2021|324477|672 560|997 037|
|Net Book value||||
|At 30September 2021|7 595 523|49459|7 644 982|
|84308 01* I* 2020|7 7D3 682|45 248|7 748 930|



## 

|||||||2021|2020|
|---|---|---|---|---|---|---|---|
|||||||E||
|Authorised,|contracted|but|not|provided|for|Nil|Nil|





## 

## 

|8|Investments|||||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||||2021|2020|
|||||||||E|E|
||Quoted securities<br>Quoted securities||—UK<br>—Overseas|||||482,522<br>636,662|426,610<br>414,349|
|||||||||1,119,184|840,959|
||Investment<br>in subsidiary|||||||||
||Accrued investment|||income||||||
||Cash balances|||||||71,026|72,468|
||Total|||||||1 199212|913429|
||||||||Listed|Total|Total|
||||||Subsidiary||undertakings|2021|2020|
|||||||E|E|E|E|
||Quoted/unquoted<br>Market value at 1 <br>Additions<br>at cost||securities:<br> October 2020||||840,959<br>366,498|840,961<br>366,498|849,376<br>256,391|
||Disposal at market value<br>brought<br>forward<br>Unrealised<br>gains/(losses)||||||(177,895)<br>89,622|(177,895)<br>89,622|(256,454)<br>(8,352)|
||Market value at|||||||||
||30September|2021|||2||1,119,184|1,119,186|840,961|
||Historic cost of|securities||||||828,846|640,101|
|||||||||2021|2020|
|||||||||E|6|
||Investment<br>income <br>Bank interest|||is made up of-||||32|318|
||Dividends|||||||23,657|22,193|
||Accrued interest|on||fixed-interest|investments|||||
|||||||||23,689|22,511|





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## 

|9|Stock||||2021|2020|
|---|---|---|---|---|---|---|
||||||E||
||Clothing<br>Christmas|stock<br>cards||stock|5(245<br>362|5,984|
||Miscellaneous||stock||1,533||
||||||7,140|5(984|
|10|Debtors||||||
||||||2021|2020|
|||||||6|
||Rent and housing<br>Prepayments<br>Other debtors|||benefits|15,838<br>55,541<br>37,163|18,918<br>42, 133<br>29,398|
||||||108,542|90,449|
|11|Creditors|falling||due in less than one year|2021|2020|
|||||||6|
||Trade creditors||||25,332|28,733|
||Accruals||||17,026|42,672|
||Other creditors||||36,389|27,707|
||||||78,747|99,112|



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|3|Restricted funds||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||At 1|||At 30|
||||||||October|||September|
||||||||2020|Income|Expenditure|2021|
||||||||E||E|E|
|a|New Belvedere<br>House <br>Property Funds|Development|||fund||5,191,629<br>5 191629||~208 159<br>~308 159|5 083470<br>5 083470|
|b<br>c<br>d|Outreach<br>workers<br>(donation<br>in kind)<br>Not Forgotten Association<br>(donation<br>in <br>Grants for individuals|||||kind)||34,900<br>159<br>45,716|(34,900)<br>(159)<br>(45,716)||
|e|Substance<br>Misuse|||||||100,000|(100,000)||
|f<br>g|Clothing<br>82 footwear<br>Other Donations<br>in kind<br>Revenue Funds|||||||4,500<br>3 907<br>189 182|(3,850)<br>~3907<br> ~188532|650<br>650|
||||||||5,191,629|189,182|(296,691)|5,084,120|
||||||||At 1|||At 30|
||||||||October|||September|
||||||||2019|Income|Expenditure|2020|
||||||||||E|F.|
||8<br>~<br>I<br>d<br>8<br>Property Funds|~||I 0|11|d|5299788<br>5 299788||~308 159<br>~108159|5 191629<br>5 191629|
|b|Outreach<br>workers (donation|||in kind)||||34,450|(34,450)||
|c<br>d|Not Forgotten<br>Association<br>Grants for individuals||(donation||in|kind)|2,703|158<br>54,534|(158)<br>(577237)||
|e|Substance<br>Misuse|||||||50,000|(50,000)||
|f|Other donations<br>in kind|||||||20,666|(20,666)||
||Revenue Funds||||||2 703|159808|~362 511||
||||||||5,302,491|159,808|(270,670)|5,191,629|



## 

## 

## 

## 



## 

## 

## 

|||||Restricted|Restricted|||
|---|---|---|---|---|---|---|---|
||||Unrestricted<br>funds|Revenue<br>funds|property<br>funds|Permanent<br>Endowment|2021|
|||||E||E|E|
|Tangible fixed <br>Investments||assets|49,459<br>1,190,212||5,083,470|2,512,053|7,644,982<br>1,190,212|
|Pension|deficit|||||||
|provision<br>Net current assets|||(27,767)<br>14,538|650|||(27,767)<br>105,188|
||||1,316,442|650|5,083,470|2,512,053|8,912,615|
||||||Restricted|||
|||||Unrestricted<br>funds|property<br>funds|Permanent<br>Endowment|2020|
||||||E|E|E|
|Tangible<br>fixed <br>Investments||assets||45,248<br>913,429|5,191,629|2,512,053|7,748,930<br>913,429|
|Pension|deficit|||||||
|provision<br>Net current assets||||(35,556)<br>170,283|||(35,556)<br>170,283|
|||||1,093,404|5,191,629|2,512,053|8,797,086|
|Revaluation||reserves||||||
|||||||2021|2020|
|||||||E|E|
|Quoted securities||||||290,338|200,858|
|||||||290,338|200,858|



## 



## 

## 

|||Land and|Other|Total|
|---|---|---|---|---|
|||buildings||2021|
|||E||6|
|Due within<br>Between 2|one year<br> and 5 years|24,698|2,963<br>1 222|27,661<br>1 222|
|||24 698|4 185|28 883|
|||Land and|Other|Total|
|||buildings||2020|
||||E|6|
|Due within|one year|15,402|3,892|19,294|
|Between 2|and 5 years||4 033|4 033|
|||15402|7 925|23 327|



## 

## 

## 



## 

## 

## 




|23|Analysis ofcash|Analysis ofcash|and cash equivalents||||
|---|---|---|---|---|---|---|
||||||2021|2020|
||Cash|in hand and|at bank||68,088|172,737|
||Cash|with investment<br>managers|||71,026|72,467|
||Cash|equivalents-|vouchers||165|225|
||Total|cash and cash equivalents|||139 279|245 429|
|24|Analysis ofchanges<br>in net debt||||||
|||||At 1October||At 30September|
|||||2020|Cashflovvs|2021|
||Cash|at bank and|in hand|172,737|(104,649)|68,088|
||Cash|with investment<br>managers||72,467|(1,441)|71,026|
||Cash|equivalents|- vouchers|225|(60)|165|
||Total|||245 429|~205 150|139279|





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## 

## 

## 

|Deficit|contributions|||||||
|---|---|---|---|---|---|---|---|
|From<br>2025:|1 April 2016 to 30 September|612,945,440<br>annum|per|(payable<br>3%each|monthly<br> on 1st A|and increasing<br>ril|by|
|From<br>2028:|1 April 2016 to 30 September|654,560<br>annum|per|(payable<br>3%each|monthly<br> on 1st A|and increasing<br>ril|by|





## 

## 

## 

|||||||2021|2020|
|---|---|---|---|---|---|---|---|
|||||||E||
|Provision at start|of period|||||35,556|42,553|
|Unwinding<br>ofthe|discount factor|(interest||expense)||182|377|
|Deficit contribution<br>Remeasurements|paid by Veterans<br>Aid <br>- impact of any change|||during<br>the year<br>in assumptions||(7,907)<br>(64)|(7,677)<br>303|
|Remeasurements|- amendments|to|the contribution||schedule|||
|Provision at end of period||||||27,767|35,556|




## 

